|
Report Date : |
29.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MUNIC GEMS |
|
|
|
|
Registered Office : |
Hoveniersstraat, 30, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
08.09.1988 |
|
|
|
|
Com. Reg. No.: |
435257410 |
|
|
|
|
Legal Form : |
Public
Limited Liability Company (BE) |
|
|
|
|
LINE OF BUSINESS : |
WHOLESALER OF DIAMONDS AND OTHER PRECIOUS STONES |
|
|
|
|
No. of Employees : |
1 |
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 – 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 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 435257410
Company name MUNIC
GEMS
Address HOVENIERSSTRAAT
30
2018 ANTWERPEN
Number of staff 1
Date of establishment 08/09/1988
Telephone number 032050100
Fax number 032050101
The business was established over 25 years ago.
The business has 1 employees.
The business has been at the address for over 7 years.
Operating Result in the latest trading period decreased 62% on the
previous trading period.
Pre-tax profits decreased by 83% compared to the previous trading
period.
The business saw an increase in their Cash Balance of 122% during the
latest trading period.
Accounts
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET
WORTH |
WORKING
CAPITAL |
|
31/12/2012 |
46,655,961 |
73,854 |
14,665,054 |
14,473,324 |
|
31/12/2011 |
44,661,049 |
450,232 |
14,588,760 |
14,240,085 |
|
31/12/2010 |
63,846,261 |
179,189 |
9,896,210 |
12,975,247 |
Accounts
|
DATE OF
LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
36,893,347 |
1 |
5,126,000 |
287,011 |
|
31/12/2011 |
35,595,963 |
2 |
5,126,000 |
281,609 |
|
31/12/2010 |
36,540,016 |
3 |
500,000 |
400,248 |
Payment
expectations
|
Past
payments |
|
Payment
expectation days |
2.69 |
|
Industry
average payment expectation days |
164.26 |
Industry
average day sales outstanding |
120.92 |
|
Day
sales outstanding |
116.46 |
||
|
Court
data summary |
|||
|
BANKRUPTCY
DETAILS |
|||
|
Court
action type |
no |
||
|
Business
number |
435257410 |
Company
name |
MUNIC
GEMS |
|
Fax
number |
032050101 |
Date
founded |
08/09/1988 |
|
Company
status |
active |
Company
type |
Public
Limited Liability Company (BE) |
|
Currency |
Euro (€) |
Date of
latest accounts |
31/12/2012 |
|
Activity
code |
46761 |
liable
for VAT |
yes |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
VAT Number |
BE.0435.257.410 |
|
Belgian
Bullettin of Acts Publications |
moniteur
belge |
|
|
|
Social
Balance Sheet |
Total |
|
During
the reporting year ended 31-12-2012 |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
3 |
|
Total
Fte Employees |
2 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
3,453 |
|
Total |
3,453 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
- |
|
Part-time
Employees |
131,487 |
|
Total |
131,487 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
3 |
|
Actual
working hours |
5,498 |
|
Personnel
Charges |
158,594 |
|
Benefits
In Addition To Wages |
- |
|
Type of
Contract |
Full-Time |
Part-Time |
Total
Fte |
|
Unlimited
Duration Contracts |
- |
3 |
2 |
|
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 |
- |
1 |
1 |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
- |
- |
- |
|
Secondairy
education |
- |
2 |
1 |
|
Higher
education (non university) |
- |
- |
- |
|
Higher
education (university) |
- |
- |
- |
|
|
|||
|
Working
Category |
Full-Time |
Part-Time |
Total
Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
- |
3 |
2 |
|
Blue
collar worker |
- |
- |
- |
|
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 |
- |
- |
- |
|
Leavers |
- |
1 |
1 |
Personnel
(NSSO classification)
|
Code |
- |
|
Description |
FROM 1
TO 4 EMPLOYEES |
|
Joint Industrial
Committee (JIC) |
|
|
JIC Code |
218 |
|
Description |
Additional
national joint committee for the employees |
|
category |
|
|
|
|
|
JIC Code |
324 |
|
Description |
Joint
committee for the industry and the trade in diamant |
|
category Significant
Events |
|
|
Event
Date |
29/06/2011 |
|
Event
Description |
Honderd
aandelen aan toonder worden omgezet in honderd aandelen op naam. |
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
46,655,961 |
4.47 |
44,661,049 |
30.05 |
63,846,261 |
46,612,575 |
0.09 |
|
Total
operating expenses |
45,771,917 |
8.27 |
42,275,616 |
32.15 |
62,311,849 |
46,221,128 |
-0.97 |
|
Operating
result |
884,044 |
62.94 |
2,385,433 |
55.46 |
1,534,412 |
148,165 |
496 |
|
Total
financial income |
106,176 |
92.14 |
1,350,491 |
35.94 |
2,108,127 |
97,631 |
8.75 |
|
Total
financial expenses |
916,366 |
72.11 |
3,285,692 |
-5.13 |
3,463,350 |
204,468 |
348 |
|
Results
on ordinary operations before taxation |
73,854 |
83.60 |
450,232 |
151 |
179,189 |
33,229 |
122 |
|
Taxation |
- |
- |
- |
- |
- |
20,877 |
- |
|
Results
on ordinary operations after taxation |
73,854 |
83.60 |
450,232 |
151 |
179,189 |
18,398 |
301 |
|
Extraordinary
items |
2,440 |
0.64 |
-383,682 |
- |
0 |
-4,346 |
56.14 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0 |
- |
- |
|
Net
result |
76,294 |
14.64 |
66,550 |
62.86 |
179,189 |
14,071 |
442 |
|
OTHER
INFORMATION |
|||||||
|
Dividends |
- |
- |
- |
- |
- |
172,177 |
- |
|
Director
remuneration |
- |
- |
- |
- |
- |
112,544 |
- |
|
Employee
costs |
131,487 |
17.09 |
158,594 |
27.41 |
124,480 |
126,172 |
4.21 |
|
Wages
and salary |
102,614 |
15.85 |
121,942 |
24.39 |
98,030 |
105,771 |
-2.99 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
14,428 |
- |
|
Social
security contributions |
22,730 |
23.45 |
29,693 |
32.79 |
22,361 |
26,708 |
14.89 |
|
Other
employee costs |
6,143 |
11.73 |
6,959 |
70.20 |
4,089 |
4,365 |
40.73 |
|
Amortization
and depreciation |
210,717 |
-2.02 |
215,059 |
-2.71 |
221,059 |
17,886 |
1078 |
|
Annual accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,579 |
-100 |
|
Tangible
fixed assets |
1,940,992 |
-9.79 |
2,151,709 |
-9.07 |
2,366,335 |
184,763 |
950 |
|
Land
& building |
236,319 |
-7.87 |
256,511 |
-7.30 |
276,703 |
362,988 |
34.90 |
|
Plant
& machinery |
1,080 |
61.17 |
2,780 |
66.82 |
8,377 |
22,646 |
95.23 |
|
Furniture
& Vehicles |
18,834 |
20.66 |
23,737 |
17.16 |
28,653 |
17,300 5,364 |
8.87 |
|
Leasing
& Other Similar Rights |
1,684,759 |
-9.84 |
1,868,681 |
-8.96 |
2,052,602 |
142,153 32,369 |
1085 |
|
Other
tangible assets |
0 |
- |
0 |
- |
0 |
7,627 |
-100 |
|
Financial
fixed assets |
103,640 |
52.77 |
219,458 |
74.25 |
852,320 |
306,761 |
66.21 |
|
Total fixed
assets |
2,044,632 |
13.77 |
2,371,167 |
26.33 |
3,218,655 |
396,027 |
416 |
|
Inventories |
17,783,706 |
13.00 |
20,440,330 |
10.32 |
18,528,316 |
3,105,555 |
472 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
7,209,884 |
- |
|
Work in
progress |
0 |
- |
0 |
- |
0 |
2,396 |
-100 |
|
Finished
goods |
17,783,706 |
13.00 |
20,440,330 |
10.32 |
18,528,316 |
1,993,175 |
792 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
571,308 |
-100 |
|
Trade
debtors |
14,886,332 |
30.63 |
11,395,958 |
13.72 |
13,208,721 |
4,252,582 |
250 |
|
Cash |
179,964 |
122 |
80,915 |
50.18 |
162,425 |
225,847 |
20.32 |
|
other
amounts receivable |
1,995,502 |
53.27 |
1,301,949 |
5.62 |
1,232,718 |
187,318 |
965 |
|
Miscellaneous
current assets |
3,210 |
43.12 |
5,644 |
97.02 |
189,181 |
18,016 |
82.18 |
|
Total
current assets |
34,848,715 |
4.89 |
33,224,796 |
-0.29 |
33,321,361 |
7,312,246 |
376 |
|
Total
Assets |
36,893,347 |
3.64 |
35,595,963 |
-2.58 |
36,540,016 |
7,668,456 1,451,744 |
381 |
|
CURRENT
LIABILITIES |
|||||||
|
Trade
creditors |
337,312 |
29.57 |
260,330 |
95.25 |
5,478,197 |
3,140,893 |
89.26 |
|
Short
term group loans |
- |
- |
- |
- |
- |
- |
- |
|
Financial
debts |
19,531,055 |
6.45 |
18,348,368 |
32.03 |
13,896,691 |
4,252,492 189,481 |
359 |
|
Current portion
of long term debt |
169,590 |
6.66 |
158,999 |
4.67 |
151,900 |
110,204 15,373 |
53.89 |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
14,226 |
3.49 |
13,745 |
13.91 |
12,067 |
9,727 - |
58.11 |
|
Miscellaneous
current liabilities |
323,208 |
59.01 |
203,268 |
74.82 |
807,259 |
8.89 |
- - |
|
Total
current liabilities |
20,375,391 |
7.33 |
18,984,711 |
-6.69 |
20,346,114 |
5,436,355 |
274 |
|
LONG
TERM DEBTS AND LIABILITIES |
|||||||
|
Long
term group loans |
- |
- |
- |
- |
- |
- |
- - |
|
Other
long term loans |
1,852,902 |
-8.39 |
2,022,493 |
67.89 |
6,297,692 |
68.40 |
- - |
|
Deffered
taxes |
- |
- |
- |
- |
- |
37,626 26,358 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,181 0 |
-100 |
|
Other long
term liabilities |
0 |
- |
0 |
- |
0 |
128,543 |
-100 |
|
Total
long term debts |
1,852,902 |
-8.39 |
2,022,493 |
67.89 |
6,297,692 |
558,650 |
231 |
|
SHAREHOLDERS
EQUITY |
|
|
|
|
|
|
|
|
Issued
share capital |
5,126,000 |
0 |
5,126,000 |
925 |
500,000 |
945,040 |
442 |
|
Share
premium account |
- |
- |
- |
- |
- |
109,362 |
- |
|
Reserves |
9,539,054 |
0.81 |
9,462,760 |
0.71 |
9,396,210 |
692,702 |
1277 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
939,206 |
- |
|
Total
shareholders equity |
14,665,054 |
0.52 |
14,588,760 |
47.42 |
9,896,210 |
1,667,396 |
779 |
|
Working
capital |
14,473,324 |
1.64 |
14,240,085 |
9.75 |
12,975,247 |
1,875,891 |
671 |
|
Cashflow |
287,011 |
1.92 |
281,609 |
29.64 |
400,248 |
28,871 |
894 |
|
Net
worth |
14,665,054 |
0.52 |
14,588,760 |
47.42 |
9,896,210 |
1,664,134 |
781 |
|
Annual accounts |
31-12-2012 |
Change (%) |
31-12-2011 |
Change (%) |
31-12-2010 |
Industry average 2012 |
|
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit
Before Tax |
0.16 |
-84.16 |
1.01 |
260 |
0.28 |
-25,00 |
0.64 |
|
Return
on capital employed |
0.45 |
-83.39 |
2.71 |
144 |
1.11 |
29,00 |
-98.45 |
|
Return
on total assets employed |
0.20 |
-84.13 |
1.26 |
157 |
0.49 |
-201,00 |
0.10 |
|
Return
on net assets employed |
0.50 |
-83.82 |
3.09 |
70.72 |
1.81 |
19,00 |
-97.37 |
|
Sales /
net working capital |
3.22 |
2.55 |
3.14 |
-36.18 |
4.92 |
44,00 |
-99 |
|
Stock
turnover ratio |
38.12 |
-16.71 |
45.77 |
57.72 |
29.02 |
110,00 |
-65.35 |
|
Debtor
days |
116.46 |
25.04 |
93.14 |
23.35 |
75.51 |
134,00 |
-13.09 |
|
Creditor
days |
2.69 |
19.56 |
2.25 |
-92.99 |
32.09 |
123,00 |
-97.81 |
|
SHORT
TERM STABILITY |
|||||||
|
Current
ratio |
1.71 |
-2.29 |
1.75 |
6.71 |
1.64 |
6,00 |
-81.00 |
|
Liquidity
ratio / acid ratio |
0.84 |
25.37 |
0.67 |
-8.22 |
0.73 |
4,00 |
-79.00 |
|
Current
debt ratio |
1.39 |
6.92 |
1.30 |
-36.89 |
2.06 |
9,00 |
-84.56 |
|
Liquidity
ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG
TERM STABILITY |
|||||||
|
Gearing |
146.97 |
4.44 |
140.72 |
-31.56 |
205.60 |
359,00 |
-59.06 |
|
Equity
in percentage |
39.75 |
-3.00 |
40.98 |
51.33 |
27.08 |
-3.205,00 |
1.24 |
|
Total
debt ratio |
1.52 |
5.56 |
1.44 |
-46.47 |
2.69 |
11,00 |
-86.18 |
|
Payment
expectations |
|
|
Payment
expectation days |
2.69 |
|
Day
sales outstanding |
116.46 |
|
Industry
comparison |
|
|
Activity
code |
46761 |
|
Activity
description |
Wholesale
of diamonds and other precious stones |
|
Industry
average payment expectation days |
164.26 |
|
Industry
average day sales outstanding |
120.92 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
2.69 |
|
Lower |
134.13 |
|
Median |
83.75 |
|
Upper |
45.33 |
|
Day sales
outstanding |
|
|
Company
result |
116.46 |
|
Lower |
112.48 |
|
Median |
58.70 |
|
Upper |
27.62 |
Group
Structure
No group
structure for this company.
Minority
Shareholders
No
minority shareholders found
Minority
Interests
No minority interests found
Individual
Shareholders
|
SHAREHOLDER
NAME |
|||
|
Forename |
Mukesh |
Middle
name |
- |
|
Surname |
Shah |
|
|
|
SHAREHOLDER
DETAILS |
|||
|
Start
date |
31/03/1999 |
End date |
- |
|
Percentage
owned |
50% |
|
|
|
SHAREHOLDER
ADDRESS |
|||
|
Street
name |
Kwikstaartlaan |
House
number |
15 |
|
Minor
town |
Wilrijk |
Postal
town |
Antwerpen |
|
Post
code |
2610 |
Country |
Belgium |
|
|
|||
|
|
|||
|
SHAREHOLDER
NAME |
|||
|
Forename |
Nitin |
Middle
name |
Mafatlal |
|
Surname |
Shah |
|
|
|
SHAREHOLDER
DETAILS |
|||
|
Start
date |
31/03/1999 |
End date |
- |
|
Percentage
owned |
50% |
|
|
|
SHAREHOLDER
ADDRESS |
|||
|
Street
name |
Eekhoornlaan |
House
number |
36 |
|
Minor
town |
Wilrijk |
Postal
town |
Antwerpen |
|
Post
code |
2610 |
Country |
Belgium |
|
NSSO
details |
|
|
Business
number |
435257410 |
|
Name of
defendant |
- |
|
Legal
form of defendant |
- |
|
Date of
summons |
- |
|
Labour
court |
- |
Bankruptcy
details
There is
no bankruptcy data against this company
court data
there is
no data for this company
Current
director details
|
Name |
MUKESH
HARICHAND SHAH |
|
Position |
Director |
|
Start
Date |
05/05/1999 |
|
Street |
15 KWIKSTAARTLAAN
ANTWERPEN |
|
Post
code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
MUKESH
HARICHAND SHAH |
|
Position |
Managing
Director |
|
Start
Date |
27/09/2004 |
|
Street |
15
KWIKSTAARTLAAN ANTWERPEN |
|
Post
code |
2610 |
|
Country |
Belgium |
|
|
|
|
Name |
SANDHYA
MUKESH SHAH |
|
Position |
Director |
|
Start
Date |
08/10/2010 |
|
Street |
15
KWIKSTAARTLAAN ANTWERPEN |
|
Post
code |
2610 |
|
Country |
Belgium |
DIAMOND INDUSTRY – INDIA
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
-
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.
-
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. 59.07 |
|
UK Pound |
1 |
Rs. 99.20 |
|
Euro |
1 |
Rs. 80.53 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.