MIRA INFORM REPORT
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Report Date : |
03.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
MONNO CERAMIC INDUSTRIES LTD. |
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Registered Office : |
9, Wary Street, Wary, Dhaka-1203 |
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Country : |
Bangladesh |
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Financials (as on) : |
30.06.2013 |
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Date of Incorporation : |
21.04.1981 |
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Com. Reg. No.: |
C-8937 |
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Legal Form : |
Public Listed Company |
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Line of Business : |
Manufacturer & exporter of Porcelain Dinnerware |
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No of Employees : |
2506 (100 in Office & 2406 in Factory) |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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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 |
: |
Monno Ceramic
Industries Ltd. |
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Head
Office |
: |
Islampur, Dhamrai, Dhaka-1350, Bangladesh. |
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Tel
No |
: |
88-02-779 1347-50 |
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Fax
No |
: |
88-02-770 8800 |
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E-mail |
: |
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Website |
: |
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Date
of Incorporation |
: |
21.04.1981 |
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Incorporation No. |
: |
C-8937 |
|
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’ 11~June’ 12 |
Tk. 77,86,23,849 |
Tk. 304,01,80,913 |
Tk. 8,88,80,957 |
|
July’ 12~June’ 13 |
Tk. 75,39,89,906 |
Tk. 304,35,63,145 |
Tk. 7,86,34,749 |
|
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. Mustafizur Rahman |
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Designation |
: |
Supervisor In
Factory. |
Locations Details
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Operating
Address |
: |
Islampur, Dhamrai, Dhaka- 1350, Bangladesh. |
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Tel
No |
: |
88-02-779 1347-50 |
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Fax
No |
: |
88-02-770 8800 |
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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 |
4500 |
Sq. ft. |
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Type of Office : |
: Commercial
Office Bldg. |
Ö |
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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. |
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Factory: |
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Address |
: |
Islampur,
Dhamrai, Dhaka-1350, Bangladesh. |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
60000 |
Sq. ft. |
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Registered
Address: |
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Address |
: |
9, Wary
Street, Wary, Dhaka-1203, Bangladesh. |
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Tel
No |
: |
Nil |
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Fax
No |
: |
Nil |
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Employee: |
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No.
of Employees |
In Office |
: |
100 |
In Factory |
: |
2406 |
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In Branch: |
: |
- |
Total
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: |
2506 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of Share |
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Sponsor &
Directors |
251398 |
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Institutions |
990522 |
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Others |
22308020 |
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General Public |
376982 |
|
Foreign Investors |
173 |
|
Non Resident
Investors |
925 |
DIRECTORS
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Name |
Designation |
|
Mr. Harunar Rashid
Khan |
Chairman |
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Mr. Moynul Islam |
Vice Chairman |
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Mrs. Afroza Khan |
Managing Director |
|
Mrs. Huron Nahar
Rashid |
Director |
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Mr. Rasheed Mymunul
Islam |
Director |
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Mr. Rashidul Hasan |
Independent Director |
ManaGEMENT
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Name |
: |
Mr. Mustafizur
Rahman |
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Job Description |
: |
Supervisor In
Factory. |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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Name |
: |
Mr. Md. Ekramul
Hoque |
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Job Description |
: |
Company Secretary. |
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Nationality |
: |
Bangladeshi. |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
BUSINESS
OPERATIONS
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Nature
of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of Products: |
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Products |
: |
Porcelain Dinnerware |
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Production
Capacity |
: |
Porcelain-80,000
Green Wears per dayNew Bone China-Do Ibory-China-25,000 Green Wears per day. |
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Last Year Production |
: |
Do. |
Trading Terms:
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Purchasing
Terms: |
L/C |
Ö |
Cash |
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Others |
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Credit
: |
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30
days |
|
60
days |
Ö |
90
days |
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|
days |
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Selling
Terms : |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit
: |
|
30
days |
|
60
days |
Ö |
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 |
: |
UK, Australia,
Canada, Japan, France, Europe. |
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Imports |
: |
China, Italy,
Thailand. |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
Messrs. Shiraz khan
Basak & Co. Chartered
Accountants, R. K. Tower, 86, Bir Uttam C. R.
Datta Road, (312, Sonargaon
Road), Level-10, Hatirpool,
Dhaka-1205. |
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Operation Status |
: |
Active. |
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Member |
: |
Dhaka Chamber of Commerce & Industry. |
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CAPITAL STRUCTURE
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Authorized Capital |
: |
Tk. 50 Crore. |
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Paid-up Capital |
: |
Tk.239280200 |
No. of Shares |
: |
23928020 |
Share Value |
: |
Tk.10.00Each |
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Main Assets |
: |
Tk.304,35,63,145 |
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FINANCIAL STATEMENT- DETAILED
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The subject company
don’t submit update financial figure to local registry office. |
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Balance Sheet : |
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Currency |
: Tk. |
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Denomination |
: 1 |
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Financial Year Ending |
:July,31~June,30 |
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Income Statement : |
||
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Currency |
:
Tk. |
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Denomination |
:
1 |
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Financial Year Ending |
:July,31~June,30 |
ASSOCIARES/SUBSIDIARIES/ RELATED
PARTIES
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Sister Concerns |
: |
ACCORDION MENU LITE Monno Bone China
Ltd Monno Fabrics Ltd Monno Attire Ltd Mediacl College
& Hospital International
School & College Monno Jutex
Industries Ltd Monno Printing
& Packaging Ltd Rashid Trading Corp
Ltd Monno Power
Generation Monno International
Agency Monno Welfare |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Monno Group of Industries
Ltd. |
BANKING
|
Bank Name |
: |
Sonali Bank
Limited. |
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Bank Address |
: |
Local Office 35-44, Motijheel
C/A Dhaka, Dhaka Tel:
88-02-89553382, 9551482, 988-02-9568002 |
ADVERSE DATA MONITORING
|
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 Islampur,
Dhamrai, Dhaka-1350, Bangladesh. The subject company Supervisor In Factory
Mr. Mustafizur Rahman welcome us & given us all information. Its office
is situated at Commercial area which is well decorated. |
GENERAL COMMENTS
|
|
The subject company
is a well-known reputed company in Bangladesh. Their products popular to the local
customers. So day by day the subject
companies increase their goodwill. As well as its
financial condition, we recommend that Credit can precede with favorable
terms Large amount. |
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Adopted
Abbreviations: |
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NA- Not Available |
TK- Bangladeshi Taka |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
UK Pound |
1 |
Rs.97.39 |
|
Euro |
1 |
Rs.77.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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.