MIRA INFORM REPORT

 

 

Report Date :

06.01.2014

 

IDENTIFICATION DETAILS

 

Name :

SUPER ATES ATESE MUKAVIM MALZEME SANAYII A.S.

 

 

Registered Office :

Maslak Mah. Maslak Ayazaga Cad. No:9 Sisli Istanbul

 

 

Country :

Turkey

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

17.09.1966

 

 

Reg. No.:

93244

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacture and trade of refractory bricks and mortar.

 

 

No. of Employees :

123

 

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

B2

 

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

:

SUPER ATES ATESE MUKAVIM MALZEME SANAYII A.S.

HEAD OFFICE ADDRESS

:

Maslak Mah. Maslak Ayazaga Cad. No:9 Sisli Istanbul / Turkey

REMARKS ON HEAD OFFICE ADDRESS

:

The address was changed from "Ayazaga Koy Yolu Uzeri 4. Levent Maslak" to "Maslak Mah. Maslak Ayazaga Cad. No:9 Sisli" by the municipality.

PHONE NUMBER

:

90-212-285 26 20 (4 lines)

 

FAX NUMBER

:

90-212-276 51 83

 

WEB-ADDRESS

:

www.superates.com

E-MAIL

:

info@superates.com

 

 

LEGAL STATUS AND HISTORY

 

 

TAX OFFICE

:

Dis Ticaret

TAX NO

:

7870009582

REGISTRATION NUMBER

:

93244

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

17.09.1966

ESTABLISHMENT GAZETTE DATE/NO

:

23.09.1966

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   50.000.000

PAID-IN CAPITAL

:

TL   50.000.000

HISTORY

:

Previous Registered Capital

:

TL 550.000

Changed On

:

29.01.2007 (Commercial Gazette Date /Number 01.02.2007/ 6736)

Previous Registered Capital

:

TL 11.545.000

Changed On

:

11.05.2010 (Commercial Gazette Date /Number 17.05.2010/ 7565)

Previous Registered Capital

:

TL 20.000.000

Changed On

:

08.05.2012 (Commercial Gazette Date /Number 14.05.2012/ 8067)

Previous Registered Capital

:

TL 40.000.000

Changed On

:

03.09.2013 (Commercial Gazette Date /Number 09.09.2013/ 8400)

 

 

OWNERSHIP / MANAGEMENT

 

 

SHAREHOLDERS

:

Mehmet Memduh Uretmen

40,88 %

Mehmet Yalcintas

16,50 %

Murat Yalcintas

16,50 %

Merve Uretmen

13 %

Hande Uretmen

13 %

Dnk Grafik Tasarim ve Danismanlik A.S.

 

Adnan Etesan

 

 

 

SISTER COMPANIES

:

EMAS ENDUSTRIEL METALLURJI SANAYI VE TICARET A.S.

GAMMA-PAK STERILIZASYON SANAYI VE TICARET A.S.

GENESIS ENERJI VE MEKANIK SISTEMLER A.S.

GENPART DIS TICARET A.S.

IKAROS SOLAR ENERJI SANAYI VE TICARET A.S.

SARK BESIN VE TARIM SANAYI A.S.

TAHAMIS TARIM A.S.

URETSAN INSAAT TURIZM SANAYI VE TICARET A.S.

 

SUBSIDIARIES

:

EMAS ENDUSTRIEL METALLURJI SANAYI VE TICARET A.S.  ( 22 % )

 

BOARD OF DIRECTORS

:

Merve Uretmen

Chairman

Mehmet Memduh Uretmen

Vice-Chairman

Murat Yalcintas

Member

Mehmet Yalcintas

Member

Hande Uretmen

Member

 

 

 

 

OPERATIONS

 

 

BUSINESS ACTIVITIES

:

Manufacture and trade of refractory bricks and mortar.

 

NACE CODE

:

DI.26.26

 

NUMBER OF EMPLOYEES

:

123

 

NET SALES

:

1.802.592 TL

(1998) 

3.061.013 TL

(1999) 

4.969.594 TL

(2000) 

9.278.727 TL

(2001) 

13.120.295 TL

(2002) 

17.856.126 TL

(2003) 

21.591.157 TL

(2004) 

24.264.071 TL

(2005) 

25.057.672 TL

(2006) 

31.888.807 TL

(2007) 

39.980.800 TL

(2008) 

38.999.316 TL

(2009) 

46.688.333 TL

(2010) 

57.708.847 TL

(2011) 

60.257.248 TL

(2012) 

49.144 TL Thousand

(01.01-30.09.2013) 

 

 

CAPACITY

:

  ( tons/yr)

 

 

 

57.550

 

 

(2010)

57.550

 

 

(2011)

 

 

 

 

IMPORT VALUE

:

2.048.394 USD

(1999)

3.130.730 USD

(2000)

2.294.266 USD

(2001)

3.800.000 USD

(2002)

6.000.000 USD

(2003)

70.000.000 USD

(2004)

10.044.569 USD

(2005)

6.291.933 USD

(2006)

14.563.338 USD

(2007)

17.941.201 USD

(2008)

7.863.000 USD

(2009)

18.449.446 USD

(2010)

23.073.986 USD

(2011)

14.744.000 USD

(2012)

11.785.000 USD

(01.01-30.09.2013)

 

 

IMPORT COUNTRIES

:

China

France

Germany

Israel

Italy

Ukraine

Netherlands

Norway

 

MERCHANDISE IMPORTED

:

Intermediary goods

Raw materials

 

EXPORT VALUE

:

7.293 TL

(1998)

16.470 USD

(1999)

99.210 USD

(2000)

1.522.564 USD

(2001)

3.272.215 TL

(2002)

4.081.924 TL

(2003)

6.332.924 TL

(2004)

8.914.945 TL

(2005)

5.091.696 TL

(2006)

4.145.250 TL

(2007)

5.436.655 TL

(2008)

5.132.131 TL

(2009)

5.209.130 TL

(2010)

7.968.135 TL

(2011)

7.454.482 TL

(2012)

4.671.539 TL

(01.01-30.09.2013)

 

 

EXPORT COUNTRIES

:

Egypt

Greece

Iran

Pakistan

Syria

Azerbaijan

Northern Cyprus Turkish Republic

Romania

Uzbekistan

Qatar

Georgia

 

MERCHANDISE  EXPORTED

:

Cement

Refractory bricks

 

HEAD OFFICE ADDRESS

:

Maslak Mah. Maslak Ayazaga Cad. No:9 Sisli  Istanbul / Turkey ( owned )

 

BRANCHES

:

Head Office/Factory  :  Maslak Mah. Maslak Ayazaga Cad. No:9 Sisli Istanbul/Turkey (owned) (25.927 sqm)

           

INVESTMENTS

:

Investments are going on.

 

TREND OF BUSINESS

:

There was an upwards trend in  2012. There appears an upwards trend in  1.1 - 30.9.2013.

SIZE OF BUSINESS

:

Large

 

 

FINANCE

 

 

MAIN DEALING BANKS

:

Akbank Levent Branch

Anadolubank Topcular Branch

Garanti Bankasi Topcular Branch

ING Bank Topcular Branch

T. Is Bankasi Rami Kisla Cad. Branch

Yapi ve Kredi Bankasi Rami Branch

 

CREDIT FACILITIES

:

The subject rarely makes 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

(01.01-30.09.2013) TL Thousand

Net Sales

38.999.316

46.688.333

57.708.847

60.257.248

49.144

Profit (Loss) Before Tax

8.390.445

5.554.979

7.075.352

13.907.093

9.281

Stockholders' Equity

28.454.363

32.978.034

38.629.042

54.969.048

 

Total Assets

39.970.748

49.451.993

61.561.873

66.461.662

 

Current Assets

25.227.467

34.800.432

44.298.349

47.798.713

 

Non-Current Assets

14.743.281

14.651.561

17.263.524

18.662.949

 

Current Liabilities

3.622.667

2.555.197

2.927.635

2.725.271

 

Long-Term Liabilities

7.893.718

13.918.762

20.005.196

8.767.343

 

Gross Profit (loss)

11.694.297

9.451.958

15.200.163

19.093.521

14.327

Operating Profit (loss)

8.323.238

5.508.292

9.591.626

12.136.958

9.503

Net Profit (loss)

6.703.754

4.425.824

5.651.008

11.235.359

9.281

 

 

 

 

COMMENT ON FINANCIAL POSITION

 

THE DETAILS OF THE CAPITAL INCREASE  AFTER LAST BALANCE SHEET

 

:

Cash Part

:

Equity Part

:10.000.000 TL

Payment Due Date

:03.09.2013

 

Capitalization

High

Remarks on Capitalization

There has been capital increase after the last balance sheet date. The increase is decided to be financed by equity items so the capital increase is not expected to have a positive effect on equity total.

 

Liquidity

High As of 31.12.2012

Remarks On Liquidity

The favorable gap between average collection and average payable period has a positive effect on liquidity.

Profitability

High Operating Profitability  in 2009

High Net Profitability  in 2009

High Operating Profitability  in 2010

High 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

Favorable in 2012

General Financial Position

Good

 

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 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

 ( 01.01-30.06.2010)

4,93 %

1,5268

2,0325

2,3444

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 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

 ( 01.01-30.11.2013)

5,80 %

1,8999

2,5208

2,9748

 

BALANCE SHEETS

 

 

 ( 31.12.2009 )  TL

 

 ( 31.12.2010 )  TL

 

 ( 31.12.2011 )  TL

 

 ( 31.12.2012 )  TL

 

 

 

CURRENT ASSETS

25.227.467

0,63

34.800.432

0,70

44.298.349

0,72

47.798.713

0,72

 

 

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Cash and Banks

3.269.550

0,08

6.244.602

0,13

6.095.567

0,10

8.798.096

0,13

 

 

Marketable Securities

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Account Receivable

6.506.761

0,16

6.340.475

0,13

7.110.949

0,12

5.502.500

0,08

 

 

Other Receivable

39.860

0,00

49.860

0,00

49.860

0,00

49.670

0,00

 

 

Inventories

13.798.165

0,35

18.982.310

0,38

28.515.189

0,46

31.545.685

0,47

 

 

Advances Given

223.813

0,01

2.135.415

0,04

291.002

0,00

309.506

0,00

 

 

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Other Current Assets

1.389.318

0,03

1.047.770

0,02

2.235.782

0,04

1.593.256

0,02

 

 

NON-CURRENT ASSETS

14.743.281

0,37

14.651.561

0,30

17.263.524

0,28

18.662.949

0,28

 

 

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Long-term Receivable

1.736

0,00

1.736

0,00

8.527

0,00

24.577

0,00

 

 

Financial Assets

1.095.087

0,03

1.109.332

0,02

1.109.332

0,02

1.109.332

0,02

 

 

Tangible Fixed Assets (net)

13.558.015

0,34

13.214.522

0,27

15.746.431

0,26

15.796.821

0,24

 

 

Intangible Assets

65.834

0,00

308.928

0,01

381.016

0,01

1.711.551

0,03

 

 

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Other Non-Current Assets

22.609

0,00

17.043

0,00

18.218

0,00

20.668

0,00

 

 

TOTAL ASSETS

39.970.748

1,00

49.451.993

1,00

61.561.873

1,00

66.461.662

1,00

 

 

CURRENT LIABILITIES

3.622.667

0,09

2.555.197

0,05

2.927.635

0,05

2.725.271

0,04

 

 

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Financial Loans

0

0,00

0

0,00

300

0,00

1.093

0,00

 

 

Accounts Payable

1.298.362

0,03

1.984.457

0,04

1.887.197

0,03

1.605.038

0,02

 

 

Loans from Shareholders

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Other Short-term Payable

152.228

0,00

157.247

0,00

250.821

0,00

230.172

0,00

 

 

Advances from Customers

61.433

0,00

122.305

0,00

107.929

0,00

75.443

0,00

 

 

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Taxes Payable

396.871

0,01

261.432

0,01

282.196

0,00

341.529

0,01

 

 

Provisions

1.686.690

0,04

14.224

0,00

369.843

0,01

427.098

0,01

 

 

Other Current Liabilities

27.083

0,00

15.532

0,00

29.349

0,00

44.898

0,00

 

 

LONG-TERM LIABILITIES

7.893.718

0,20

13.918.762

0,28

20.005.196

0,32

8.767.343

0,13

 

 

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Financial Loans

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Securities Issued

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Long-term Payable

7.893.718

0,20

13.795.082

0,28

19.891.862

0,32

8.767.343

0,13

 

 

Loans from Shareholders

0

0,00

123.680

0,00

113.334

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

28.454.363

0,71

32.978.034

0,67

38.629.042

0,63

54.969.048

0,83

 

 

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Paid-in Capital

11.545.000

0,29

20.000.000

0,40

20.000.000

0,32

40.000.000

0,60

 

 

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Inflation Adjustment of Capital

2.393

0,00

2.393

0,00

2.393

0,00

2.393

0,00

 

 

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Reserves

10.203.216

0,26

8.535.572

0,17

12.961.396

0,21

3.717.051

0,06

 

 

Revaluation Fund

0

0,00

14.245

0,00

14.245

0,00

14.245

0,00

 

 

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

0

0,00

 

 

Net Profit (loss)

6.703.754

0,17

4.425.824

0,09

5.651.008

0,09

11.235.359

0,17

 

 

TOTAL LIABILITIES AND EQUITY

39.970.748

1,00

49.451.993

1,00

61.561.873

1,00

66.461.662

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

 

(01.01-30.09.2013) TL Thousand

 

Net Sales

38.999.316

1,00

46.688.333

1,00

57.708.847

1,00

60.257.248

1,00

49.144

1,00

Cost of Goods Sold

27.305.019

0,70

37.236.375

0,80

42.508.684

0,74

41.163.727

0,68

34.817

0,71

Gross Profit

11.694.297

0,30

9.451.958

0,20

15.200.163

0,26

19.093.521

0,32

14.327

0,29

Operating Expenses

3.371.059

0,09

3.943.666

0,08

5.608.537

0,10

6.956.563

0,12

4.824

0,10

Operating Profit

8.323.238

0,21

5.508.292

0,12

9.591.626

0,17

12.136.958

0,20

9.503

0,19

Other Income

2.450.159

0,06

2.009.345

0,04

2.321.211

0,04

3.230.327

0,05

1.120

0,02

Other Expenses

2.339.897

0,06

1.415.120

0,03

3.842.987

0,07

632.554

0,01

1.095

0,02

Financial Expenses

43.055

0,00

547.538

0,01

994.498

0,02

827.638

0,01

247

0,01

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

8.390.445

0,22

5.554.979

0,12

7.075.352

0,12

13.907.093

0,23

9.281

0,19

Tax Payable

1.686.691

0,04

1.129.155

0,02

1.424.344

0,02

2.671.734

0,04

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

0

0,00

0

0,00

Net Profit (loss)

6.703.754

0,17

4.425.824

0,09

5.651.008

0,10

11.235.359

0,19

9.281

0,19

 

 

FINANCIAL RATIOS

 

 

(2009)

(2010)

(2011)

(2012)

 

LIQUIDITY RATIOS

 

 

Current Ratio

6,96

13,62

15,13

17,54

 

Acid-Test Ratio

2,71

4,94

4,53

5,27

 

Cash Ratio

0,90

2,44

2,08

3,23

 

ASSET STRUCTURE RATIOS

 

 

Inventory/Total Assets

0,35

0,38

0,46

0,47

 

Short-term Receivable/Total Assets

0,16

0,13

0,12

0,08

 

Tangible Assets/Total Assets

0,34

0,27

0,26

0,24

 

TURNOVER RATIOS

 

 

Inventory Turnover

1,98

1,96

1,49

1,30

 

Stockholders' Equity Turnover

1,37

1,42

1,49

1,10

 

Asset Turnover

0,98

0,94

0,94

0,91

 

FINANCIAL STRUCTURE

 

 

Stockholders' Equity/Total Assets

0,71

0,67

0,63

0,83

 

Current Liabilities/Total Assets

0,09

0,05

0,05

0,04

 

Financial Leverage

0,29

0,33

0,37

0,17

 

Gearing Percentage

0,40

0,50

0,59

0,21

 

PROFITABILITY RATIOS

 

 

Net Profit/Stockholders' Eq.

0,24

0,13

0,15

0,20

 

Operating Profit Margin

0,21

0,12

0,17

0,20

 

Net Profit Margin

0,17

0,09

0,10

0,19

 

Interest Cover

195,88

11,15

8,11

17,80

 

COLLECTION-PAYMENT

 

 

Average Collection Period (days)

60,08

48,90

44,41

33,02

 

Average Payable Period (days)

121,19

152,56

184,44

90,71

 

WORKING CAPITAL

21604800,00

32245235,00

41370714,00

45073442,00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.41

UK Pound

1

Rs.102.54

Euro

1

Rs.85.20

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.