MIRA INFORM REPORT

 

 

Report Date :

04.02.2014

 

IDENTIFICATION DETAILS

 

Name :

SAMPA OTOMOTIV SANAYI VE TICARET A.S.

 

 

Formerly Known As :

SAMPA OTOMOTIV SANAYI VE TICARET LTD. STI.

 

 

Registered Office :

Organize Sanayi Bolgesi Organize Sanayi Bulvari No:31 Kutlukent Tekkekoy Samsun

 

 

Country :

Turkey

 

 

Financials (as on) :

30.09.2013

 

 

Date of Incorporation :

15.09.1994

 

 

Com. Reg. No.:

125-Tekkekoy

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer and Trader of automotive spare parts.

 

 

No of Employees :

760

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Turkey

B2

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

TURKEY - ECONOMIC OVERVIEW

 

Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas to meet 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal reforms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth - averaging more than 6% annually until 2008. Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis and GDP rebounded strongly to 9.2% in 2010, as exports returned to normal levels following the recession. Growth dropped to approximately 3% in 2012. Turkey's public sector debt to GDP ratio has fallen to about 40%, and at least one rating agency upgraded Turkey's debt to investment grade in 2012. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit. The stock value of FDI stood at $117 billion at year-end 2012. Inflows have slowed because of continuing economic turmoil in Europe, the source of much of Turkey's FDI. Turkey's relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.

 

Source : CIA

 

 

COMPANY IDENTIFICATION

 

 

NAME

:

SAMPA OTOMOTIV SANAYI VE TICARET A.S.

HEAD OFFICE ADDRESS

:

Organize Sanayi Bolgesi Organize Sanayi Bulvari No:31 Kutlukent Tekkekoy Samsun / Turkey

PHONE NUMBER

:

90-362-266 40 35

90-362-266 77 92

 

FAX NUMBER

:

90-362-266 62 19

90-362-266 93 58

 

WEB-ADDRESS

:

www.sampa.com.tr

E-MAIL

:

sampax@sampa.com.tr

 

 

LEGAL STATUS AND HISTORY

 

 

NOTES ON LEGAL STATUS AND HISTORY

:

Change at tax no .

 

 

TAX OFFICE

:

19 Mayis

TAX NO

:

7420420876

REMARKS ON TAX NO

:

As the subject changed its legal status from limited company to joint stock company, the tax number of subject was changed from "7420050605" to "7420420876".

REGISTRATION NUMBER

:

125-Tekkekoy

REGISTERED OFFICE

:

Samsun Chamber of Commerce and Industry

DATE ESTABLISHED

:

15.09.1994

ESTABLISHMENT GAZETTE DATE/NO

:

21.09.1994/3621

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   60.000.000

HISTORY

:

Previous Legal Type

:

Limited Company

Changed On

:

10.02.2012 (Commercial Gazette Date /Number 15.02.2012/ 8006)

Previous Name

:

Sampa Otomotiv Sanayi ve Ticaret Ltd. Sti.

Changed On

:

10.02.2012 (Commercial Gazette Date /Number 15.02.2012/ 8006)

Previous Registered Capital

:

TL 50.000

Changed On

:

14.07.2005 (Commercial Gazette Date /Number 21.07.2005/ 6351)

Previous Registered Capital

:

TL 2.100.000

Changed On

:

12.09.2008 (Commercial Gazette Date /Number 17.09.2008/ 7151)

Previous Registered Capital

:

TL 6.120.000

Changed On

:

14.07.2009 (Commercial Gazette Date /Number 22.07.2009/ 7359)

Previous Registered Capital

:

TL 6.300.000

Changed On

:

10.05.2011 (Commercial Gazette Date /Number 18.05.2011/ 7818)

Previous Registered Capital

:

TL 15.420.000

Changed On

:

29.09.2011 (Commercial Gazette Date /Number 05.10.2011/ 7914)

Previous Registered Capital

:

TL 17.915.000

Changed On

:

25.11.2011 (Commercial Gazette Date /Number 30.11.2011/ 7951)

Previous Registered Capital

:

TL 40.000.000

Changed On

:

10.02.2012 (Commercial Gazette Date /Number 15.02.2012/ 8006)

Previous Registered Capital

:

TL 49.000.000

Changed On

:

28.09.2012 (Commercial Gazette Date /Number 17.10.2012/ 8176)

Previous Registered Capital

:

TL 53.000.000

Changed On

:

13.12.2012 (Commercial Gazette Date /Number 19.12.2012/ 8218)

Previous Address

:

Ornek Sanayi Sitesi Sahil Cad. No:47/4 Kutlukent  Samsun

Changed On

:

03.09.2009 (Commercial Gazette Date /Number 09.09.2009/ 7394)

Merger

:

The subject took over and merged with “Mettek Metal Isleme Teknolojileri San. ve Tic. Ltd. Sti.” and “Smt Sac Metal Teknolojileri San. ve Tic. Ltd. Sti.”

Changed On

:

27.08.2008 (Commercial Gazette Date /Number 03.09.2008/ 7141)

Merger

:

The subject took over and merged with “Elaskom Kaucuk Metal San. ve Tic. Ltd. Sti." .

Changed On

:

12.06.2009 (Commercial Gazette Date /Number 17.06.2009/ 7334)

Merger

:

The subject took over and merged with "Sampa Dis Ticaret Ltd. Sti."

Changed On

:

26.04.2011 (Commercial Gazette Date /Number 04.05.2011/ 7808)

Merger

:

The subject took over and merged with “Etp Otomotiv Dis Ticaret ve Lojistik Hizmetleri Ticaret Ltd. Sti.”

Changed On

:

15.11.2011 (Commercial Gazette Date /Number 23.11.2011/ 7946)

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Tarik Altuncu

33,46 %

Tayfun Altuncu

31,02 %

Sahin Sahinkaya

11,17 %

Hasan Mufit Sahinkaya

11,17 %

Emine Sahinkaya

11,17 %

Nurettin Husnu Cep

2,01 %

 

 

SISTER COMPANIES

:

Declared to be:None

 

BOARD OF DIRECTORS

:

Tarik Altuncu

Chairman

Tayfun Altuncu

Vice-Chairman

Nurettin Husnu Cep

Member

Hasan Mufit Sahinkaya

Member

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Manufacture and trade of automotive spare parts.

 

 

NACE CODE

:

DM.34.30

 

 

NUMBER OF EMPLOYEES

:

760

 

 

NET SALES

:

1.639 TL Thousand

(2001) 

3.955 TL Thousand

(2002) 

7.700 TL Thousand

(2003) 

13.098 TL Thousand

(2004) 

13.384 TL Thousand

(2005) 

18.041 TL Thousand

(2006) 

27.871 TL Thousand

(2007) 

29.075.487 TL

(2008) 

21.441.577 TL

(2009) 

61.284.568 TL

(2010) 

74.036.006 TL

(2011) 

112.242 TL Thousand

(2012) 

81.144 TL Thousand

(01.01-30.09.2013) 

 

 

 

IMPORT VALUE

:

3.000.000 USD

(01.01-30.09.2011)

 

 

 

IMPORT COUNTRIES

:

Spain

Germany

China

Romania

Taiwan

India

 

 

MERCHANDISE IMPORTED

:

Automotive spare parts

Raw material

 

 

EXPORT VALUE

:

3.407 TL Thousand

(2002)

7.095 TL Thousand

(2003)

11.463 TL Thousand

(2004)

11.744 TL Thousand

(2005)

16.221 TL Thousand

(2006)

18.511 TL Thousand

(2007)

17.256.114 TL

(2008)

2.784.044 TL

(2009)

158.309 TL

(2010)

62.587.692 TL

(2011)

94.239.354 TL

(2012)

68.188.812 TL

(01.01-30.09.2013)

 

 

 

EXPORT COUNTRIES

:

Germany

Italy

Belgium

Australia

Bulgaria

France

Iran

Poland

Spain

Greece

Saudi Arabia

Ethiopia

Tunisia

Morocco

Russia

Albania

Romania

Slovakia

Estonia

Finland

Portugal

Ireland

Malaysia

Chile

Ecuador

Yemen

 

 

MERCHANDISE  EXPORTED

:

Automotive spare parts

Roller bearings

 

 

HEAD OFFICE ADDRESS

:

Organize Sanayi Bolgesi Organize Sanayi Bulvari No:31 Kutlukent Tekkekoy  Samsun / Turkey ( owned )

 

 

BRANCHES

:

Factory/Warehouse  :  Kerimbey Mah. Kazak Sok. No:3 Tekkekoy Samsun/Turkey

 

Head Office/Factory  :  Organize Sanayi Bolgesi Organize Sanayi Bulvari No:31 Kutlukent Tekkekoy Samsun Samsun/Turkey (owned)

 

Branch Office  :  Yavuz Sultan Selim Bulv. Alemdag Cad. Perla Vista AVB B Blok Kat.10 Beykent Beylikduzu Istanbul/Turkey (owned)

 

Branch Office/Warehouse  :  Dolapdere Sanayi Sitesi 20. Ada No:24-26-28 Ikitelli Istanbul/Turkey (rented)

                                                                                

 

INVESTMENTS

:

Machinery investments are going on.

 

 

 

TREND OF BUSINESS

:

There was an upwards trend in  2012. There appears a decline at business volume in nominal terms in  1.1 - 30.9.2013.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Akbank Samsun Ticari Branch

Garanti Bankasi Merkez Branch

T. Halk Bankasi Ticari Branch

T. Is Bankasi Ticari Branch

T. Vakiflar Bankasi Sanayi Branch

T.C. Ziraat Bankasi Ticari Branch

 

CREDIT FACILITIES

:

The subject company is making use of credit facilities.

 

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

 

KEY FINANCIAL ELEMENTS

:

 

(2009) TL

(2010) TL

(2011) TL

(2012) TL Thousand

(01.01-30.09.2013) TL Thousand

Net Sales

21.441.577

61.284.568

74.036.006

112.242

81.144

Profit (Loss) Before Tax

610.162

992.637

11.054.514

15.700

8.742

Stockholders' Equity

14.380.010

15.238.441

48.995.398

68.197

 

Total Assets

25.469.545

50.429.086

97.860.204

160.617

 

Current Assets

12.064.060

29.700.746

68.831.477

104.805

 

Non-Current Assets

13.405.485

20.728.340

29.028.727

55.812

 

Current Liabilities

9.022.938

26.242.503

35.308.879

56.916

 

Long-Term Liabilities

2.066.597

8.948.142

13.555.927

35.504

 

Gross Profit (loss)

5.315.852

8.606.910

25.321.994

36.281

26.171

Operating Profit (loss)

2.352.046

1.915.758

14.803.412

21.100

13.387

Net Profit (loss)

401.890

794.110

8.995.398

13.234

8.193

 

 

COMMENT ON FINANCIAL POSITION

 

 

Capitalization

Satisfactory As of 31.12.2012

Liquidity

Satisfactory As of 31.12.2012

Remarks On Liquidity

The liquid assets consist mainly of receivables the amount of cash&banks or marketable securities (which are more liquid) are low.

Profitability

High Operating Profitability  in 2009

Fair Net Profitability  in 2009

Fair Operating Profitability  in 2010

Low Net Profitability  in 2010

High Operating Profitability  in 2011

High Net Profitability  in 2011

High Operating Profitability  in 2012

High Net Profitability  in 2012

High Operating Profitability (01.01-30.09.2013)

High Net Profitability (01.01-30.09.2013)

 

Gap between average collection and payable periods

Unfavorable in 2012

General Financial Position

Satisfactory

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2001 )

88,60 %

1,1991

1,0714

1,7300

 ( 2002 )

30,80 %

1,5168

1,3741

2,2001

 ( 2003 )

13,90 %

1,5302

1,7141

2,4982

 ( 2004 )

13,84 %

1,4266

1,7666

2,6001

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-30.09.2011)

9,72 %

1,6335

2,3016

2,6294

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 2012 )

2,45 %

1,7995

2,3265

2,8593

 ( 01.01-30.09.2013)

4,43 %

1,8785

2,4774

2,9189

 ( 2013 )

6,97 %

1,9179

2,5530

3,0178

 

 

BALANCE SHEETS

 

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

 ( 31.12.2012 )  TL Thousand

 

CURRENT ASSETS

12.064.060

0,47

29.700.746

0,59

68.831.477

0,70

104.805

0,65

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

Cash and Banks

135.284

0,01

7.778.654

0,15

429.066

0,00

1.276

0,01

Marketable Securities

0

0,00

0

0,00

0

0,00

34

0,00

Account Receivable

4.958.682

0,19

16.369.873

0,32

35.719.864

0,37

51.190

0,32

Other Receivable

500.418

0,02

3.295.621

0,07

2.931.722

0,03

4.140

0,03

Inventories

5.620.709

0,22

1.561.670

0,03

28.194.433

0,29

43.828

0,27

Advances Given

417.980

0,02

446.694

0,01

40.775

0,00

49

0,00

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

Other Current Assets

430.987

0,02

248.234

0,00

1.515.617

0,02

4.288

0,03

NON-CURRENT ASSETS

13.405.485

0,53

20.728.340

0,41

29.028.727

0,30

55.812

0,35

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Receivable

531.405

0,02

1.625

0,00

62.700

0,00

63

0,00

Financial Assets

760.678

0,03

320.000

0,01

3.051.996

0,03

6.166

0,04

Tangible Fixed Assets (net)

11.535.078

0,45

18.427.583

0,37

23.866.746

0,24

45.281

0,28

Intangible Assets

506.340

0,02

1.927.603

0,04

1.966.511

0,02

3.914

0,02

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

71.984

0,00

51.529

0,00

80.774

0,00

388

0,00

TOTAL ASSETS

25.469.545

1,00

50.429.086

1,00

97.860.204

1,00

160.617

1,00

CURRENT LIABILITIES

9.022.938

0,35

26.242.503

0,52

35.308.879

0,36

56.916

0,35

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

936.448

0,04

8.869.910

0,18

7.327.002

0,07

20.397

0,13

Accounts Payable

2.000.846

0,08

15.639.981

0,31

21.246.979

0,22

29.415

0,18

Loans from Shareholders

0

0,00

73.607

0,00

0

0,00

39

0,00

Other Short-term Payable

271.389

0,01

416.281

0,01

485.226

0,00

832

0,01

Advances from Customers

4.512.441

0,18

724.882

0,01

0

0,00

1.350

0,01

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

0

0,00

Taxes Payable

1.301.582

0,05

499.013

0,01

443.402

0,00

588

0,00

Provisions

0

0,00

18.829

0,00

749.105

0,01

972

0,01

Other Current Liabilities

232

0,00

0

0,00

5.057.165

0,05

3.323

0,02

LONG-TERM LIABILITIES

2.066.597

0,08

8.948.142

0,18

13.555.927

0,14

35.504

0,22

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

Financial Loans

1.532.898

0,06

8.948.142

0,18

10.015.732

0,10

32.534

0,20

Securities Issued

0

0,00

0

0,00

0

0,00

0

0,00

Long-term Payable

533.699

0,02

0

0,00

3.540.195

0,04

2.970

0,02

Loans from Shareholders

0

0,00

0

0,00

0

0,00

0

0,00

Other Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

Provisions

0

0,00

0

0,00

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

14.380.010

0,56

15.238.441

0,30

48.995.398

0,50

68.197

0,42

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

68.197

0,42

Paid-in Capital

6.300.000

0,25

6.300.000

0,12

40.000.000

0,41

0

0,00

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

3.433.607

0,13

3.419.767

0,07

0

0,00

0

0,00

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

0

0,00

Reserves

4.244.513

0,17

4.724.564

0,09

0

0,00

0

0,00

Revaluation Fund

0

0,00

0

0,00

0

0,00

0

0,00

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

401.890

0,02

794.110

0,02

8.995.398

0,09

0

0,00

TOTAL LIABILITIES AND EQUITY

25.469.545

1,00

50.429.086

1,00

97.860.204

1,00

160.617

1,00

 

 

REMARKS ON FINANCIAL STATEMENT

:

At the financial statements according to TAS, "Cheques Received" and "Outstanding Cheques" figures are under "Cash And Banks" figure. Beginning from the financial statements of 31.12.2011, "Cheques Received" and "Outstanding Cheques" figures are given under "Account Receivable" figure and "Account Payable" figure respectively.

 

 

INCOME STATEMENTS

 

 

(2009) TL

 

(2010) TL

 

(2011) TL

 

(2012) TL Thousand

 

(01.01-30.09.2013) TL Thousand

 

Net Sales

21.441.577

1,00

61.284.568

1,00

74.036.006

1,00

112.242

1,00

81.144

1,00

Cost of Goods Sold

16.125.725

0,75

52.677.658

0,86

48.714.012

0,66

75.961

0,68

54.973

0,68

Gross Profit

5.315.852

0,25

8.606.910

0,14

25.321.994

0,34

36.281

0,32

26.171

0,32

Operating Expenses

2.963.806

0,14

6.691.152

0,11

10.518.582

0,14

15.181

0,14

12.784

0,16

Operating Profit

2.352.046

0,11

1.915.758

0,03

14.803.412

0,20

21.100

0,19

13.387

0,16

Other Income

460.022

0,02

385.534

0,01

3.945.535

0,05

2.681

0,02

3.010

0,04

Other Expenses

1.700.086

0,08

599.368

0,01

4.108.202

0,06

3.284

0,03

1.179

0,01

Financial Expenses

501.820

0,02

709.287

0,01

3.586.231

0,05

4.797

0,04

6.476

0,08

Minority Interests

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

610.162

0,03

992.637

0,02

11.054.514

0,15

15.700

0,14

8.742

0,11

Tax Payable

208.272

0,01

198.527

0,00

2.059.116

0,03

2.466

0,02

549

0,01

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

401.890

0,02

794.110

0,01

8.995.398

0,12

13.234

0,12

8.193

0,10

 

 

FINANCIAL RATIOS

 

 

(2009)

(2010)

(2011)

(2012)

LIQUIDITY RATIOS

 

 

Current Ratio

1,34

1,13

1,95

1,84

Acid-Test Ratio

0,62

1,05

1,11

1,00

Cash Ratio

0,01

0,30

0,01

0,02

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,22

0,03

0,29

0,27

Short-term Receivable/Total Assets

0,21

0,39

0,39

0,34

Tangible Assets/Total Assets

0,45

0,37

0,24

0,28

TURNOVER RATIOS

 

 

Inventory Turnover

2,87

33,73

1,73

1,73

Stockholders' Equity Turnover

1,49

4,02

1,51

1,65

Asset Turnover

0,84

1,22

0,76

0,70

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,56

0,30

0,50

0,42

Current Liabilities/Total Assets

0,35

0,52

0,36

0,35

Financial Leverage

0,44

0,70

0,50

0,58

Gearing Percentage

0,77

2,31

1,00

1,36

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

0,03

0,05

0,18

0,19

Operating Profit Margin

0,11

0,03

0,20

0,19

Net Profit Margin

0,02

0,01

0,12

0,12

Interest Cover

2,22

2,40

4,08

4,27

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

92,18

96,17

173,99

164,39

Average Payable Period (days)

56,58

106,88

183,18

153,48

WORKING CAPITAL

3041122,00

3458243,00

33522598,00

47889,00

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 62.68

UK Pound

1

Rs.  102.96

Euro

1

Rs.  84.57

 

 

INFORMATION DETAILS

 

Report Prepared by :

DPT

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.