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Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
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Name : |
POWER UTILITY BANGLADESH LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.07.1994 |
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Com. Reg. No.: |
C-35718 |
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Legal Form : |
Private Company |
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Line of Business : |
· Subject is a renewable energy company specializing in the engineering of PV Power Stations, Rooftop PV Installation (Including BIPV), PV in Transport (Solar-Charged Vehicle), Standalone/Hybrid Systems (Billboard Lighting, Telecommunication, Refrigeration, Street Light & Water Pumps), Rural Electrification & other innovative solutions powered by the free, abundant energy of the sun. Subject
offer complete power solutions of pre-assembled and custom-engineered systems
for industrial, commercial, residential & government applications. Engaged in Importer, Installation &
Distributors of Solar system. |
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No of Employees : |
30 (10 In Office & 20 in Warehouse) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Bangladesh |
B1 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bangladesh ECONOMIC OVERVIEW
Bangladesh's
economy has grown roughly 6% per year since 1996 despite political instability,
poor infrastructure, corruption, insufficient power supplies, slow
implementation of economic reforms, and the 2008-09 global financial crisis and
recession. Although more than half of GDP is generated through the service
sector, almost half of Bangladeshis are employed in the agriculture sector with
rice as the single-most-important product. Garment exports, the backbone of Bangladesh’s
industrial sector and 80% of total exports, surpassed $21 billion last year,
18% of GDP. The sector has remained resilient in recent years amidst a series
of factory accidents that have killed over 1,000 workers and crippling strikes
that shut down virtually all economic activity. Steady garment export growth
combined with remittances from overseas Bangladeshis, which totaled almost $15
billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s
current account surplus and record foreign exchange holdings.
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Source CIA |
IDENTIFICATION
DETAILS
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Correct
company Name |
: |
Power Utility
Bangladesh Limited |
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Head
Office |
: |
Bengal House, 75, Gulshan Avenue, Gulshan-1,
Dhaka-1212, Bangladesh |
|
Tel
No |
: |
88-02- 988 8248, 019 78 111111 |
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Fax
No |
: |
88-02-882
7507 |
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E-mail |
: |
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|
Website |
: |
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Date
of Incorporation |
: |
01.07.1994 |
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Incorporation No. |
: |
C-35718 |
|
Legal
Form (General) |
: |
Public Listed Co Public (but not listed) Private Co
State-owned Co Sole
Proprietorship Partnership Not
Registered others (please specify) ________________ |
|
Legal
form (Specific) |
: |
LTD CORP
INC CO
others (please specify) ________________ |
|
Issuing
Authority |
: |
Registrar
of Joint Stock Companies & Firms City
Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS-
SUMMARY
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Year |
Turnover/ Sales |
Assets |
Income |
|
July’ 12~June’ 13 |
BDT 85 Million |
BDT 24.53 Million |
BDT 3.00 Million |
|
July’ 13~June’ 14 |
BDT 135 Million |
BDT 29.60 Million |
BDT 4.99 Million |
|
Exchange Rate |
USD1-Tk. 77.8200 EUR 1-
Tk. 100.2711 GBP 1-
Tk.118.5354 AUD 1 -
Tk.82.8563 JPY 1 -
Tk.0.9286 |
CAD 1 -
Tk.80.1887 SEK 1 -
Tk.12.2870 SGD 1 -
Tk.65.3045 CNH 1 -
Tk.12.8399 |
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Information
Parted By
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Name |
: |
Mr. Shurov
Anik |
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Designation |
: |
Executive |
Locations Details
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Operating
Address |
: |
Bengal House, 75, Gulshan Avenue, Gulshan-1,
Dhaka-1212, Bangladesh |
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Tel
No |
: |
88-02- 988 8248, 019 78 111111 |
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Fax
No |
: |
88-02-882
7507 |
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E-mail |
: |
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Website |
: |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
4800 |
Sq. ft. |
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Type of Office : |
: Commercial Office Bldg. |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential
Bldg. |
Ö |
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Warehouse
: |
||
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Address |
: |
95/A, Tejgaon
I/A, Dhaka-1212, Bangladesh |
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Tel
No |
: |
N/A |
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Fax
No |
: |
N/A |
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Location : |
Owned |
Ö |
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Rented |
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Leased |
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Area |
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Sq. ft. |
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Employee: |
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No.
of Employees |
In
Office |
: |
10 |
Warehouse |
: |
20 |
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In Branch: |
: |
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Total
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: |
30 |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Mr. Morshed Alam |
1000 |
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Mr. Md. Jashim
Uddin |
1000 |
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Mr. Humayun Kabir
(Bablu) |
1000 |
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Mr. Firoz Alam |
1000 |
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Mr. Shamsul Alam |
1000 |
DIRECTORS
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Name |
Designation |
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Mr. Morshed Alam |
Chairman& Managing Director |
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Mr. Md. Jashim
Uddin |
Director |
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Mr. Humayun Kabir
(Bablu) |
Director |
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Mr. Firoz Alam |
Director |
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Mr. Shamsul Alam |
Director |
MANAGEMENT
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||
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Name |
: |
Mr. Shurov Anik |
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Job Description |
: |
Executive |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
· Subject is a renewable energy company specializing in the engineering of PV Power Stations, Rooftop PV Installation (Including BIPV), PV in Transport (Solar-Charged Vehicle), Standalone/Hybrid Systems (Billboard Lighting, Telecommunication, Refrigeration, Street Light & Water Pumps), Rural Electrification & other innovative solutions powered by the free, abundant energy of the sun.
Subject
offer complete power solutions of pre-assembled and custom-engineered systems
for industrial, commercial, residential & government applications.
Engaged in Importer, Installation &
Distributors of Solar system.
Trading Terms:
|
Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit
: |
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30
days |
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60
days |
Ö |
90
days |
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days |
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Selling
Terms : |
L/C |
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Cash |
Ö |
Others |
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|||
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Credit
: |
Ö |
30
days |
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60
days |
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90
days |
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days |
DETAILED
DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
N/A |
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Imports |
: |
India, China |
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Brand Name |
: |
Nil |
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Certified |
: |
Nil |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active |
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Member |
: |
N/A |
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CAPITAL
STRUCTURE
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Authorized Capital |
: |
BDT 10 Million |
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Paid-up Capital |
: |
BDT 500000 |
No. of Shares |
: |
5000 |
Share Value |
: |
BDT 100.00Each |
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Main Assets |
: |
BDT 29.60 Million |
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FINANCIAL
STATEMENT- DETAILED
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The subject company
don’t submit update financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Nutri Com Limited. Bengal Plastic
Industries Ltd. Bengal Overseas
Corporation Ltd Windsor Plastics
(BD) Ltd Bengal Corrugated
Carton Ind.Ltd. Bengal Poly &
Paper Sack ltd. Bengal Concept
& Holdings Ltd. Hamilton Metal
Corporation Ltd. Romania Food &
Beverage Ltd. Polycord Ltd. Power Utility
Bangladesh Ltd. R-TV (Television
Channel) Mercantile Bank Ltd Desh General
Insurance Co. Ltd. Bengal Build-up
Bangladesh Ltd. Compact Fluorescent
Lamps Co. Ltd. Bengal Agro Estate
Ltd. Bengla Airlift
Limited Bevgla Hi Style Ltd BanglaKnittex Ltd Bangla NFK Limited Bengla travel and
ToursLtd Xenergia
International Ltd ACE AVIATION
SERVICES LTD Arabi Fashion
Limited AST Knitwear
Limited ACE Cargo Ltd Bengal Teletech (
Bagkiadesh) Ltd Jack In the Box Bengla Cng-Lng
Service Ltd Bengal Poly Pack
ltd Bengal Sack
Architect Ltd Bengal Polymer
Wears Ltd Bengal Spinning
& Wears Ltd The Steel
Fabricators Ltd Bengal Hyper Market
Ltd Bengal Windsor Thermoplastics
Ltd Bengal Hotels &
Resorts Limited) Aitr Alliance Ltd
Licensed Operator of Ups Rahmania Biscuits
& Bread Industries Lit Bengal Adhesives
& Chemical Prod, Ltd Novel Hurricane
Knit Garments Limited Bengal Hurricane
Dyeing & Printing (Pvt.) Ltd |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Bengal Group of
Industries Limited |
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Bank Name |
: |
Dutch Bangla Bank
Ltd |
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Bank Address |
: |
Gulshan Branch The Grand Delvistaa,CES
(A) 1/A, Road # 113,Gulshan Avenue, Dhaka-1212, Bangladesh. |
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Bank Name |
: |
Southeast Bank |
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Bank Address |
: |
Gulshan Branch Opened on:
1997-05-04 House #82 CES (F), 1, Gulshan Avenue Dhaka Phone: 9883491,
9883401 - 5, 9883492 Fax: 88 - 02 -
9883495 |
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Bank Name |
: |
Exim Bank Ltd |
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Bank Address |
: |
Gulshan Branch Address: Delta Life
Tower, Plot# 37, Road # 45 & 90, North Gulshan C/A, Gulshan-2, Dhaka. Phone: 02-9862262,
9886296, 8819711, 01711-404821 Fax: 880-2-8818703 |
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Dishonored
Checks |
: |
No Record
Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance
Defaults |
: |
No Record
Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE
VISIT COMMENTARY
|
|
Our representative
visited the subject company Head Office which is situated at Bengal House, 75, Gulshan Avenue, Gulshan-1,
Dhaka-1212, Bangladesh. It is situated at residential area & their office
is well decorated by modern furniture. |
GENERAL COMMENTS
|
|
Subject is mainly engaged in Importer, Installation & Distributors
of Solar system. The subject company maintains acceptable business volume. |
|
Adopted
Abbreviations: |
|||
|
NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
UK Pound |
1 |
Rs.97.05 |
|
Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.