MIRA INFORM REPORT

Report Date :

08.07.2014

IDENTIFICATION DETAILS

Name :	PUNJI BIKAS SAVING AND CREDIT CO-OPERATIVE LTD.

Registered Office :	P.O.B. No.: 11432 Pako, New Road, Kathmandu

Country :	Nepal

Financials (as on) :	15.07.2013

Date of Incorporation :	05.07.2010

Legal Form :	Co-operative Society

Line of Business :	Subject providing services like loan, Personal and Business loans and also banking services.

No of Employees :	10

RATING & COMMENTS

MIRA’s Rating :

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 – March 31, 2014

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Nepal

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2

nepal ECONOMIC OVERVIEW

Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Nepal is heavily dependent on remittances, which amount to as much as 22-25% of GDP. Agriculture is the mainstay of the economy, providing a livelihood for more than 70% of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of commercially feasible capacity, but political uncertainty and a difficult business climate have hampered foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, persistent power shortages, underdeveloped transportation infrastructure, civil strife and labor unrest, and its susceptibility to natural disaster. The lack of political consensus in the past several years has delayed national budgets and prevented much-needed economic reform, although the government passed a full budget in 2013.

Source : CIA

note

We have not found subject shareholding details from government. But Mr. Pawan (Financial head) claimed that major shares are held by “NEPAL RASTRA BANK”.

He also claimed that there are more 50 Shareholder but he decline to part information on them.

Company Identification Details

Enquired Name	:	PUNJI BIKAS SAVING AND CREDIT CO-OPERATIVE LTD.
Correct Name of Company	:	PUNJI BIKAS SAVING AND CREDIT CO-OPERATIVE LTD.

Registered Office	:	P.O.B. No.: 11432 Pako, New Road, Kathmandu, Nepal Phone: 977-1-4221517, 4258380 Fax: 977-1-4221726 Email : punjibikas@gmail.com

Industry	:	Credit & Co-operative

Official Company Data

Legal Form	:	Co-operative Society
Corporate Identity Number (CIN)	:	1021
ROC Code	:	Kathmandu
Registration Date	:	05.07.2010
Employee	:	10
Auditor	:	Mr. Bagirath
Business	:	Subject is act as a co-operative credit society. Providing services like loan, Personal and Business loans and also banking services.
Bankers	:	Nepal Rastra Bank Ltd

Financial data

(Attached Below)

Balance sheet as 0n 15^th July, 13

Board of Directors

Mr. Shyam Kumar Shrestha		Director
	Mr. Sagar Ku7mar Shrestha		Director
	Mr. Gopal Shrestha		Director
	Mr. Suman Ratna Tuladhar		Director
	Mr. Indrani Shrestha		Director

NOTE

INFORMATION PARTED BY
Name	Mr. Pawan Ranjit
Department	Finance Head
Tel No.:	977-1-4221517

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.59.79
UK Pound	1	Rs.102.66
Euro	1	Rs.81.32

INFORMATION DETAILS

Information Gathered by :	JML

Analysis Done by :	SUB

Report Prepared by :	NIS

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