|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
JAYAM NV |
|
|
|
|
Registered Office : |
Schupstraat 18-20 2018 Antwerpen |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
01.11.1960 |
|
|
|
|
Com. Reg. No.: |
404965892 |
|
|
|
|
Legal Form : |
Public Limited Liability
Company |
|
|
|
|
Line of Business : |
Wholesale of diamonds and
other precious stones |
|
|
|
|
No. of Employees |
09 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
BELGIUM ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank
|
Source
: CIA |
Business number 404965892
Company name JAYAM NV
Address SCHUPSTRAAT 18-20
2018 ANTWERPEN
Number of staff 9
Date of establishment 01/11/1960
Telephone number 032310935
Fax number 032329220
The business was established over 54 years ago.
The business has 10 employees.
The business is part of a group.
This business has a foreign parent business.
The business has been at the address for over 3 years.
A 35% growth in Total Assets occurred during the latest trading period.
Pre-tax profits decreased by 99% compared to the previous trading period.
The business saw a decrease in their Cash Balance of 50% during the latest trading period
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/03/2013 |
66,336,125 |
5,754 |
10,548,995 |
26,225,604 |
|
31/03/2012 |
59,306,695 |
701,039 |
9,963,423 |
25,249,239 |
|
31/03/2011 |
43,991,635 |
507,748 |
8,902,988 |
24,204,142 |
|
DATE OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/03/2013 |
86,399,279 |
9 |
10,385,970 |
228,854 |
|
31/03/2012 |
63,808,220 |
11 |
17,676,376 |
554,167 |
|
31/03/2011 |
52,793,768 |
12 |
16,618,674 |
262,381 |
Payment
expectations
|
|||
|
Past
payments |
|
Payment expectation days |
206.08 |
|
Industry average payment expectation days |
133.33 |
Industry
average day sales outstanding |
134.28 |
|
Business number |
404965892 |
Company name |
JAYAM NV |
|
Fax number |
032329220 |
Date founded |
01/11/1960 |
|
Company status |
active |
Company type |
Public
Limited Liability Company
(BE) |
|
|
|
|
|
|
Currency |
Euro (€) |
Date of latest accounts |
31/03/2013 |
|
Activity code |
46761 |
Liable for VAT |
yes |
|
Activity description |
Wholesale of diamonds and other precious stones |
VAT Number |
BE.0404.965.892 |
|
Social Balance Sheet |
Total |
|
During the reporting year |
|
|
ended 31-03-2013 |
|
|
Full-time Employees |
10 |
|
Part-time Employees |
3 |
|
Total Fte Employees |
11 |
Number of hours worked
Full-time Employees 16,824
Part-time Employees 2,724
Total 19,548
Personnel Charges
Full-time Employees 492,409
Part-time Employees 79,727
Total 572,136
Benefits In Addition To Wages -
During the previous reporting year
Average number employees in Fte 11
Actual working hours 19,884
Personnel Charges 596,106
Benefits In Addition To Wages -
|
Type of
Contract |
Full-Time |
Part-Time |
Total Fte |
|
|
Unlimited
Duration Contracts |
8 |
4 |
10 |
|
|
Limited
Duration Contracts - - - |
||||
|
Contracts For Specific - - -Work |
||||
|
Contracts
Regarding |
- |
- |
- |
|
|
Substitution |
|
|
|
|
|
|
||||
|
|
||||
|
Gender and
Education |
|
|
|
|
|
Level |
|
|
|
|
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education |
- |
- |
- |
|
|
Secondairy
education |
- |
- |
- |
|
|
Higher education
(non university) |
5 |
- |
5 |
|
|
Higher
education |
- |
- |
- |
|
|
(university) |
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education - - - |
||||
|
Secondairy education |
- |
- |
- |
|
|
Higher education (non university) |
3 |
4 |
5 |
|
|
Higher
education |
- |
- |
- |
|
|
(university) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
|
|
Management |
- |
- |
- |
|
|
White
collar worker |
7 |
2 |
8 |
|
|
Blue collar
worker |
1 |
2 |
2 |
|
|
Other - - - |
||||
|
|
||||
|
|
||||
|
Temporary
personnel |
|
Total |
|
|
|
Average
number of temporary staff |
- |
|
|
|
|
Actual
working hours - |
||||
|
Cost of
temporary staff - |
||||
|
|
||||
|
|
||||
|
New staff
and leavers |
Full-Time |
Part-Time |
Total Fte |
|
|
New
Starters |
1 |
1 |
2 |
|
|
Leavers |
3 |
- |
3 |
|
|
|
||||
Code -
Description FROM 10 TO 19 EMPLOYEES
|
Significant Events |
|
|
Event Date |
21/03/2013 |
|
Event Description |
|
|
Event Details |
Bekrachtiging van de beslissing genomen op 20.12.2011 tot
omzetting van de aandelen aan toonder in aandelen op naam. |
|
Annual
accounts |
31-03-2013 |
|
31-03-2012 |
% |
31-03-2011 |
Industry
average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
66,336,125 |
11.85 |
59,306,695 |
34.81 |
43,991,635 |
40,657,642 |
63.16 |
|
Total
operating expenses |
64,211,533 |
11.95 |
57,356,826 |
34.35 |
42,693,655 |
40,254,905 |
59.51 |
|
Operating
result |
2,124,592 |
8.96 |
1,949,869 |
50.22 |
1,297,980 |
201,520 |
954 |
|
Total
financial income |
110,450 |
29.85 |
85,060 |
-44.86 |
154,264 |
56,154 |
96.69 |
|
Total
financial expenses |
2,229,289 |
67.13 |
1,333,890 |
41.23 |
944,497 |
197,934 |
1026 |
|
Results on
ordinary operations before taxation |
5,754 |
-99 |
701,039 |
38.07 |
507,748 |
54,149 |
-89.37 |
|
Taxation |
- |
- |
162,127 |
- |
- |
19,188 |
- |
|
Results on ordinary operations
after taxation |
5,754 |
-98.93 |
538,912 |
6.14 |
507,748 |
40,005 |
-85.62 |
|
Extraordinary
items |
151,313 |
335 |
-45,111 |
15.45 |
-292,064 |
2,253 |
6616 |
|
Other
appropriations |
0 |
- |
0 |
- |
0 |
- |
- |
|
Net result |
157,067 |
-68.19 |
493,801 |
128 |
215,684 |
42,285 |
271 |
|
Gross Operating
Margin |
- |
- |
- |
- |
- |
56,374 |
- |
|
Dividends |
- |
- |
- |
- |
- |
160,017 |
- |
|
Director
remuneration |
91,794 |
-2.26 |
93,915 |
- |
- |
144,326 |
-36.40 |
|
Employee
costs |
572,135 |
0. 11 |
571,526 |
7.29 |
532,698 |
176,454 |
224 |
|
Wages and salary |
459,029 |
3.69 |
442,676 |
7.36 |
412,347 |
150,640 |
204 |
|
Employee pension costs |
- |
- |
- |
- |
- |
153 |
- |
|
Social security contributions |
110,269 |
-7.15 |
118,756 |
6.15 |
111,880 |
39,277 |
180 |
|
Other employee costs |
2,838 |
-71.89 |
10,095 |
19.17 |
8,471 |
3,688 |
-23.05 |
|
Amortization
and depreciation |
71,787 |
18.92 |
60,366 |
29.27 |
46,697 |
21,860 |
228 |
|
Annual
accounts |
31-03-2013 |
% |
31-03-2012 |
% |
31-03-2011 |
Industry average 2013 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
808 |
-100 |
|
Tangible
fixed assets |
493,632 |
-3.53 |
511,708 |
56.86 |
326,222 |
223,614 |
120 |
|
Land & building |
- |
- |
- |
- |
- |
446,256 |
- |
|
Plant & machinery |
53,991 |
-13.97 |
62,755 |
-11.94 |
71,267 |
38,072 |
41.81 |
|
Furniture & Vehicles |
54,987 |
-14.81 |
64,544 |
672 |
8,352 |
15,947
4,471 |
244 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
14,695
19,027 |
- |
|
Other tangible assets |
384,654 |
0.06 |
384,409 |
55.88 |
246,603 |
5,349 |
7091 |
|
Financial
fixed assets |
178,146 |
-32.09 |
262,326 |
-14.49 |
306,772 |
52,773 |
237 |
|
Total fixed
assets |
671,778 |
-13.21 |
774,034 |
22.28 |
632,994 |
243,431 |
175 |
|
Inventories |
25,579,771 |
27.24 |
20,102,802 |
-2.44 |
20,605,176 |
3,482,814 |
634 |
|
Raw materials & consumables |
- |
- |
- |
- |
- |
- |
- |
|
Work in progress |
0 |
- |
0 |
- |
0 |
6,026 |
-100 |
|
Finished goods |
25,579,771 |
27.24 |
20,102,802 |
-2.44 |
20,605,176 |
2,326,057 |
999 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
553,678 |
-100 |
|
Trade
debtors |
51,590,850 |
41.14 |
36,552,330 |
38.47 |
26,397,256 |
6,042,174 |
753 |
|
Cash |
641,222 |
-50.12 |
1,285,422 |
-16.77 |
1,544,499 |
272,349 |
135 |
|
other
amounts receivable |
7,819,252 |
56.17 |
5,007,021 |
41.53 |
3,537,829 |
159,994 |
4787 |
|
Miscellaneous
current assets |
96,406 |
11.31 |
86,611 |
13.94 |
76,014 |
20,783 |
363 |
|
Total
current assets |
85,727,501 |
36.00 |
63,034,186 |
20.85 |
52,160,774 |
9,376,391 |
814 |
|
Total
Assets |
86,399,279 |
35.40 |
63,808,220 |
20.86 |
52,793,768 |
9,590,610
1,529,358 |
800 |
|
|
Trade
creditors |
36,254,154 |
135 |
15,396,565 |
110 |
7,327,309 |
3,821,839 |
848 |
|
Short term group loans - - - - - - - |
||||||||
|
|
Financial
debts |
21,678,862 |
4.41 |
20,763,109 |
2.12 |
20,332,140 |
5,413,582 194,404 |
300 |
|
|
Current
portion of long term debt |
- |
- |
- |
- |
- |
55,118
12,139 |
- |
|
|
Amounts Payable for Taxes,
Remuneration & Social Security |
55,453 |
-75.12 |
222,924 |
256 |
62,582 |
8,355 - |
79.60 |
|
|
Miscellaneous
current liabilities |
1,513,428 |
7.92 |
1,402,349 |
497 |
234,601 |
193 |
-- |
|
|
Total
current liabilities |
59,501,897 |
57.48 |
37,784,947 |
35.16 |
27,956,632 |
6,899,974 |
762 |
|
LONG TERM
DEBTS AND LIABILITIES |
||||||||
|
|
Long term
group loans |
- |
- |
- |
- |
- |
- |
-- |
|
|
Other long
term loans |
16,348,387 |
1.80 |
16,059,850 |
0.79 |
15,934,149 |
889 |
-- |
|
|
Deffered
taxes |
- |
- |
- |
- |
- |
49,067
41,554 |
- |
|
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
4,138 0 |
-100 |
|
|
Other long
term liabilities |
0 |
- |
0 |
0 |
-1 |
33,193 |
-100 |
|
|
Total long
term debts |
16,348,387 |
1.80 |
16,059,850 |
0.79 |
15,934,148 |
831,647 |
1865 |
|
SHAREHOLDERS
EQUITY |
||||||||
|
|
Issued
share capital |
10,385,970 |
-41.24 |
17,676,376 |
6.36 |
16,618,674 |
1,157,650 |
797 |
|
|
Share
premium account |
- |
- |
- |
- |
- |
129,193 |
- |
|
|
Reserves |
163,025 |
2. 11 |
-7,712,953 |
99 |
-7,715,686 |
631,976 |
-74.20 |
|
|
Revaluation
reserve |
- |
- |
- |
- |
- |
1,468,843 |
- |
|
|
Total
shareholders equity |
10,548,995 |
5.88 |
9,963,423 |
11.91 |
8,902,988 |
1,858,988 |
467 |
|
|
Working
capital |
26,225,604 |
3.87 |
25,249,239 |
4.32 |
24,204,142 |
2,476,416 |
959 |
|
|
Cashflow |
228,854 |
-58.70 |
554,167 |
111 |
262,381 |
60,523 |
278 |
|
|
Net worth |
10,548,995 |
5.88 |
9,963,423 |
11.91 |
8,902,988 |
1,858,180 |
467 |
|
|
Annual accounts |
31-03-2013 |
change(%) |
31-03-2012 |
change(%) |
31-03-2011 |
Industry average 2013 |
% |
|
TRADING
PERFORMANCE |
||||||||
|
|
||||||||
|
|
Profit Before Tax |
0.01 |
-99 |
1.18 |
2.61 |
1.15 |
4,00 |
-99 |
|
|
Return on
capital employed |
0.02 |
-99 |
2.69 |
31.86 |
2.04 |
4,00 |
-99 |
|
|
Return on
total assets employed |
0.01 |
-99 |
1.10 |
14.58 |
0.96 |
-10,00 |
0.10 |
|
|
Return on
net assets employed |
0.05 |
-99 |
7.04 |
23.51 |
5.70 |
9,00 |
-99 |
|
|
Sales / net working capital |
2.53 |
7.66 |
2.35 |
29.12 |
1.82 |
53,00 |
-99 |
|
|
Stock turnover ratio |
38.56 |
13.75 |
33.90 |
-27.63 |
46.84 |
73,00 |
-47.18 |
|
|
Debt or days |
283.87 |
26.19 |
224.96 |
2.71 |
219.02 |
261,00 |
8.76 |
|
|
Credit or days |
206.08 |
110 |
97.98 |
56.42 |
62.64 |
170,00 |
21.22 |
|
SHORT TERM STABILITY |
||||||||
|
|
Current ratio |
1.44 |
-13.77 |
1.67 |
-10.70 |
1.87 |
3,00 |
-92.80 |
|
|
Liquidity ratio / acid ratio |
1.01 |
-11.40 |
1.14 |
0.88 |
1.13 |
2,00 |
-49.50 |
|
|
Current debt ratio |
5.64 |
48.81 |
3.79 |
20.70 |
3.14 |
20,00 |
-71.80 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM
STABILITY |
||||||||
|
|
Gearing |
360.48 |
-2.46 |
369.58 |
-9.27 |
407.35 |
250,00 |
44.19 |
|
|
Equity in percentage |
12.21 |
-21.78 |
15.61 |
-7.41 |
16.86 |
-272,00 |
4.49 |
|
|
Total debt ratio |
7.19 |
33.15 |
5.40 |
9.53 |
4.93 |
20,00 |
-64.05 |
Industry
comparison
|
||
|
Activity
code |
46761 |
|
|
Activity
description |
Wholesale
of diamonds and other precious stones |
|
|
Suspension of payments / moratorium
history |
|
|
Amount -Details - Payment expectations |
|
|
Payment expectation days Day sales
outstanding |
206.08 283.87 |
|
Activity code |
46761 |
|
Activity description Industry average payment
expectation days Industry average day sales
outstanding Industry quartile analysis |
Wholesale
of diamonds and other precious stones 133.33 134.28 |
|
Company result |
206.08 |
|
Lower |
127.94 |
|
Median |
79.51 |
|
Upper |
46.56 |
Day
sales outstanding
|
|
|
Company result |
283.87 |
|
Lower |
109.87 |
|
Median |
56.46 |
|
Upper |
27.62 |
Company name Business
number Latest
Financials
404965892 31-03-2013
- - DIAMOND VALLEE 482856309 31-12-2012
- - JAYAM CHINA LTD
|
Company name |
Business number |
% |
Date of accounts |
|
JAYAM DIAMONDS INTERNATIONAL PTE. LTD. |
- |
- |
- |
|
FAS EAST INVESTMENT IN VEREFFENING
NV |
448977564 |
19.09 |
30/12/2006 |
|
SACHIN DIAMONDS BEIGIUM IN VEREFFENING NV |
867740719
|
3.82 |
31/12/2011 |
|
Business Company name number |
Date of accounts |
|
447811485 Sports of Club of India NV |
14/11/2012 |
|
Companies that match this address |
|||
|
Business number |
Company
name |
Date of
accounts |
|
|
406397039 |
IMMO
CORPORATION & CO BVBA |
31/12/2012 |
|
|
456696982 |
GABI S.
TOLKOWSKY ANS SONS BVBA |
31/12/2012 |
|
|
456756172 |
GABI S
TOLKOWSKY DESIGN BVBA |
31/12/2012 |
|
|
551947816 |
DIANEX
MANUFACTURING BVBA |
- |
|
|
835419626 |
TOMCHEI
SHABBOS OF ANTWERP VZW |
- |
|
|
879939458 |
JAYAM
JEWELLERY NV |
31/03/2013 |
|
|
881553816 |
LUMINIS
STAR NV |
31/12/2012 |
|
Summary
Group - Number of Companies 3
Linkages - Number of Companies 3
Number of Countries 1
Bankruptcy details
There is no bankruptcy data against this company
Court Data
there is no data for this company
DIAMOND INDUSTRY – INDIA
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From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
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The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
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The area of study of family owned diamond businesses derives its
importance from the huge conglomerate of family run organizations which operate
in the diamond industry since many generations.
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Some of the basic traits of family run business enterprises include spirit
of entrepreneurship, mutual trust lowers transaction costs, small, nimble and
quick to react, information as a source of advantage and philanthropy.
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Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
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Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
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Excerpts from Times of India dated 30th October 2010 is as
under –
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Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
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The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.88 |
|
UK Pound |
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
|
|
|
|
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 |
-- |
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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.