|
Report Date : |
30.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.T. UNILEVER INDONESIA TBK |
|
|
|
|
Formerly known as: |
N.V. LEVER’s ZEEPFABRIEKEN INDONESIAN |
|
|
|
|
Registered Office : |
GRAHA UNILEVER Building Jl. Jend. Gatot
Subroto Kav. 15 Jakarta 12930 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
05.12.1933 |
|
|
|
|
Com. Reg. No.: |
No. AHU-AH.01.10-27259 |
|
|
|
|
Legal Form : |
Public Listed Company |
|
|
|
|
Line of Business : |
Consumer Goods Manufacturing |
|
|
|
|
No. of Employees |
6,480 persons |
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 31st, 2014
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Indonesia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDONESIA - ECONOMIC OVERVIEW
Indonesia, a vast polyglot nation, has grown strongly since
2010. During the global financial crisis, Indonesia outperformed its regional
neighbors and joined China and India as the only G20 members posting growth.
The government has promoted fiscally conservative policies, resulting in a
debt-to-GDP ratio of less than 25% and historically low rates of inflation.
Fitch and Moody's upgraded Indonesia's credit rating to investment grade in
December 2011. Indonesia still struggles with poverty and unemployment,
inadequate infrastructure, corruption, a complex regulatory environment, and
unequal resource distribution among regions. The government also faces the
challenges of quelling labor unrest and reducing fuel subsidies in the face of
high oil prices.
|
Source
: CIA |
Name of Company :
P.T. UNILEVER
INDONESIA TBK
Address :
Head Office
GRAHA UNILEVER Building
Jl. Jend. Gatot Subroto Kav. 15
Jakarta 12930
Phones - (021) 526 2112 (hunting)
Fax. - (021) 526 2046
P.O. Box - 1162 JAKARTA
10011
Email - unvr.indonesia@unilever.com
Website - http://www.unilever.co.id
Building Area - 22 storey
Office Space - 2,400 sq.
meters
Region - Commercial
Status - Rent
Branches
All of big cities in Indonesia
Factories
a. Jalan Ngagel No. 173-175
Surabaya,
East Java
Phone - (031) 69301
b. Jalan
Rungkut Industri IV/5-11
Surabaya
Industrial Estate Rungkut
Surabaya,
West Java
Phones - (031) 811197
c. Cikarang Industrial
Estate
Kabupaten
Bekasi
West Java
Phones -
(021) 8934885-6
Fax. -
(021) 8934884
Date of
Incorporation :
a. 05 December 1933 as N.V. LEVER’s ZEEPFABRIEKEN INDONESIAN
b. 22 July 1980 as P.T. UNILEVER INDONESIA
c. 30 June 1997 as P.T. UNILEVER INDONESIA Tbk
Legal Form :
P.T. Tbk (Perseroan Terbatas Terbuka) or Public Listed Company
Company Reg. No. :
The Department of
Law and Human Rights
a. No. C-17533.HT.01.04.TH.2003
Dated 28 July 2003
b. No. AHU-51473.AH.01.02.Tahun 2008
Dated 15 August
2008
c. No. AHU-AH.01.10-27259
Dated 22 August 2011
Company Status :
Foreign Investment (PMA) Company
Permit by the
Government Department :
The Capital Investment Coordinating Board
a. No. Kep/77/Mekku/IX/1967
Dated 28
September 1967
b. No. 84/II/PMA/1990
Dated 23
May 1990
c. No. 62/II/PMA/1997
Dated 21
April 1997
d. No. 114/II/PMA/1998
Dated 5
October 1998
e. No. 83/II/PMA/1999
Dated 11
May 1999
f. No. 241/II/PMA/2003
Dated 18
November 2003
g. No. 740/III/PMA/2004
Dated 29
July 2004
The Department of Finance
NPWP No. 01.001.701.0-092.000
Holding Company :
UNILEVER INDONESIA HOLDING B.V. (Investment Holding)
Affiliated/Associated Companies :
A company member of the UNILEVER Group
Capital Structure
:
Authorized Capital - Rp. 76,300,000,000.-
Issued Capital - Rp. 76,300,000,000.-
Paid up Capital - Rp. 76,300,000,000.-
Shareholders/Owners
:
a. UNILEVER INDONESIA
HOLDING B.V.,- Rp. 6,484,877,500.- (85%)
b. The Publics - Rp.
1,145,122,500.- (15%)
Lines of Business
:
Consumer Goods Manufacturing
Production
Capacity :
A. Initial Unit
a.
Detergent Cream Powder and Bar -
37,200 tons p.a.
b.
Detergent Liquid and Scourer
- 8,600 tons p.a.
c. Toilet Soap - 42,500 tons p.a.
d. Loundry
Soap - 50,000 tons p.a.
e.
Sulphonic Acid - 6,000 tons p.a.
f. Crude
Glycerin -
6,750 tons p.a.
g. Refined
Glycerin -
2,200 tons p.a.
h. Refined
Oil - 67,000 tons p.a.
i.
Margarine - 39,000 tons p.a.
j. Bakery
Fat - 17,500
tons p.a.
k. Cooking
Oil and Fat -
5,000 tons p.a.
l.
Soupstock - 600 tons p.a.
m.
Specified Coconut Cream - 1,200 tons p.a.
n.
Spread - 3,000 tons p.a.
o. Tooth
Paste -
15,000 tons p.a.
p. Shampoo
& Conditioner - 14,000 tons p.a.
q. Hair
Cream -
1,950 tons p.a.
r.
Lotion - 450 tons p.a.
s.
Deodorant - 3,000 tons p.a.
t. Face
Care -
1,750 tons p.a.
u. Sanitary
Napkin -
5,000 tons p.a.
v. Baby
Set - 300,000 sets p.a.
w.
Mixtalot - 1,200,000 ltrs. p.a.
x. Tooth
Brush -
2,000,000 pcs. p.a.
y. Tea - 1,000 tons p.a.
z. Coffee - -
1,000 tons p.a.
aa. Ice
Cream - 9,000 tons p.a.
B. Expansion Unit
a.
Waterbased Adhesive - 4,000 tons p.a.
b. Hotmelt
Adhesive -
3,000 tons p.a.
c.
Solventbased Adhesive - 3,000 tons p.a.
d. Food
Processed - 30,000 tons p.a.
Total Investment :
A. Initial Unit
a. Owned
Capital - US$ 154.15 million
b. Loan
Capital - US$ 10.00 million
c. Total
Investment - US$ 164.15 million
B. Expansion Unit
a. Owned
Capital - ---
b. Loan
Capital - US$ 12.0 million
c. Total
Investment - US$ 12.0 million
Started Operation
:
1 9 3 3
Brand Name :
UNILEVER INDONESIA
Technical
Assistance :
MAVIBEL B.V., of the Netherlands
Number of Employee
:
6,480 persons
Marketing Area :
Domestic - 95.6%
Export -
4.4%
Main Customer :
Supermarket, Hypermarket, Mini-market, Retail Shops, Tradition Market,
etc
Market Situation :
Very Competitive
Main Competitors :
a. P.T. WINGS SURYA
b. P.T. SAYAP MAS UTAMA
c. P.T. TANCHO INDONESIA
d. P.T. ABC CENTRAL FOOD INDUSTRIES
Business Trend :
Growing
B a n k e r s :
a. P.T. Bank MANDIRI Tbk.
Jl. Gatot Subroto Kav. 36-38
Jakarta SElatan
b. P.T. Bank NEGARA
INDONESIA Tbk
Jl. Jend. Sudirman Kav.1
Jakarta Pusat
c. CITIBANK N.A.
Jl. Jend. Sudirman 1
Jakarta
Pusat
d. ABN-AMRO
Bank NV
Jl.
Jend. Sudirman Kav. 52-53
Jakarta
Selatan
Auditor :
KAP Tanudiredja, Wibisana & Rekan (a member of
PricewaterhouseCoopers)
Litigation :
No litigation record in our database
Annual Sales :
2009 – Rp. 18,246.9 billion
2010 – Rp. 19,690.2 billion
2011 – Rp. 23,469.2 billion
2012 – Rp. 27,303.2 billion
2013 – Rp. 30,757.4 billion
Net Profit :
2009 – Rp. 3,044.1 billion
2010 – Rp. 3,387.0 billion
2011 – Rp. 4,164.3 billion
2012 – Rp. 4,839.1 billion
2013 – Rp. 5,352.6 billion
Payment Manner :
Promptly
Financial Comments
:
Very healthy
Board of Management :
President Director - Mr. Maurits Daniel Rudolf Lalisang
Directors - a. Mr. Tevilyan Yudhistira Rusli
b. Mrs. Debora Herawati Sadrach
c. Mr. Hadrianus Setiawan
d. Mrs. Ira Noviarti
e. Mr. Vishal Gupta
f. Mr.
Ainul Yaqin
g. Mr. VSancoyo Antarikso
h. Mr. Ramakrishnan Raghuraman
Board of Commissioners :
President Commissioner - Mr. Peter Frank ter Kulve
Commissioners - a. Mr. Erry firmansyah
b. Mr. Cyrillus Harinowo
c. Mr. Bambang Subianto
d. Mr. Hikmahanto Juwana
Signatories :
President Director (Mr. Maurits Daniel
Rudolf Lalisang) or one of the Directors (Mr. Franklin Chan Gomez, Mrs. Enny
Hartati Sampurno, Mrs. Ira Noviarti, Mrs. Debora Herawati Sadrach, Mr. Ainul
Yaqin, Mr. Hadrianus Setiawan, Mr. Vishal Gupta or Mr. Sancoyo Antarikso) which
must be approved by the Board of Commissioners
Management Capability :
Excellent
Business Morality :
Good
Credit Risk :
Low
Credit Recommendation :
Credit can be proceeded promptly
Proposed Credit Limit :
Fairly large amount
Originally named N.V. LEVER's ZEEPFABRIEKEN INDONESIAN, the company was established
on December 5, 1933 with an authorized capital of N.Fl. 1,000,000.- and an
issued capital of N.Fl. 200,000.-
entirely paid up. The company was
founded by LEVER BROTHERS Limited of the United Kingdom and N.V. MARGARINE UNIE
of the Netherlands as the original shareholders. The company’s Articles of association have
been amended several times. In July 1980
the company was merged with two affiliated companies (P.T. VAN DENBERGH'S
Fabrieken Indonesia and P.T. OLIEFABRIEK ARCHA) and was renamed P.T. UNILEVER
INDONESIA. On this occasion its capital
structure was converted into Rupiah, and the authorized capital was set at Rp 76,300,000,000.- with the issued and paid
up capital amounting Rp 71,517,000,000.-. Then in 1980, P.T. UI was approved to
go public and sold 15% of its shares to the Indonesia community.
On June 30, 1997 the word Terbuka (Tbk) was added behind the name of
being P.T. UNILEVER INDONESIA Tbk., or P.T. UIT. Concurrently, the authorized capital of the
company is Rp. 76,300,000,000.- entirely was issued and fully paid up. The shareholders of the company are
Maatschappij Voor BELEGGINGEN (MAVIBEL) of the Netherlands (85%), P.T.
DANAREKSA of Indonesia (5.3%) and the publics (9.7%). This
Articles of Association amendment was approved by the Minister of Law and Human
Rights of the Republic of Indonesia by virtue of Decision Letter No.
AHU-51473.AH.01.02.Tahun 2008 dated 11 August 2008.
The latest pursuant to annual report of the company, as of 30 September
2011, the shareholders of the company are UNILEVER INDONESIA HOLDING B.V., of
the Netherlands (85%) and the Publics (15%).
This Articles of Association
amendment was approved by the Minister of Law and Human Rights of the Republic
of Indonesia by virtue of Decision Letter No. AHU-AH.01.10-27259 dated
August 22, 2011. No changes have been effected in term of its shareholding
composition and capital structures to date.
P.T. UIT is engaged in consumer goods manufacturing. The company operates three big plants, two of
them are located in Surabaya, East Java and one in West Jakarta. The plants produce various types of cosmetics
and toiletries, including toilet soap, shampoo, conditioner, deodorant,
perfumes, skin preparations, tooth paste, pomade, washing soap, food seasoning,
cooking oil, margarine, various floor cleansing materials and other products.
In 1992, P.T. UIT expanded to
build a new factory in Cikarang Industrial Estate, Bekasi, West Java. Besides, the company has diversified its
business in the field of ice cream manufacturing. The products are marketed under WALLS brand
with a success marketing strategy to compete with other well-known brands. Since the early 1997, the whole activities in
west Jakarta factory have been moved to the new factory in Cikarang, West Java.
P.T. UIT commands a very wide marketing network through out the country. The Company’s home & personal care
products and foods & refreshment products is distinguished by many of best
known and most trusted brands, including; Lifebuoy Vaseline, Pepsodent, Lux,
Pond’s, Sunlight, Rinso, Blue Band, Royco, Dove, Rexona, Clear, Wall’s and
others. The company covers a total or more than 460 thousand outlets in
Indonesia through 644 distributors. Some
5% of the products is exported to various Southeast Asian countries (ASEAN),
the Middle East, Hong Kong, the Netherlands, Australia, etc.
Besides, P.T. UIT is also in cooperation with P.T. AQUA GOLDEN
MISSISSIPPI for LIPTON Tea production
and marketing, with P.T. SARIWANGI TEA for tea production and marketing, and
with P.T. CIPTA YASA PANGAN MANDIRI for Goldfrost frozen dough production and
marketing. By standards applying to
companies in Indonesia, P.T. UIT is now the biggest in the cosmetics and
toiletries industry and in the production of several food-related products such
as cooking oil, margarine, food spices and other items.
In September 2003, P.T. UIT acquired light food plant of TATO and its
facilities in Bogor, West Java. They plan to invest US$ 4,500 million in coming
ten years particularly in modernizing supply facilities in the frame of export
planning. Other steps are by ceasing unpopular brands in the market.
Consequently the brands will be lessening from 60 brands to only 30 brands.
In January 2004, P.T. UIT acquired 99.99% shares of P.T. KNORR
INDONESIA, a producer of processed food under BESTFOODS brand worth US$
516,032.- In April 2004, P.T.UIT
acquired the rest of the shares of P.T. KNORR INDONESIA of which its entire
(100%) shares are owned by P.T. UIT.
Furthermore, the business of P.T. KNORR INDONESIA is merged into P.T.UIT
with the expectation of is sales value and profit obtained by P.T. UIT will
increase in the coming years.
We observe that P.T. UIT is the largest-sized company in Indonesia
dealing with consumer goods industry and distribution. Presently the company is a big player in its
tea drink under brand of LIPTON Tea, FRESH Tea and SARI WANGI Dip Tea. SARI WANGI is the pioneer of dip tea products
in the country. LIPTON and FRESH Tea
gained tight competition from The Botol SOSRO, Teh KITA, S-Tea and others. Beside, WALL’S Ice Cream has to face tightly
with ice cream of CAMPINA, DIAMOND, MEIJI, WOODY brands and others.
Mr. Maurits Daniel Rudolf Lalisang, the president director of P.T. UIT
explained that in 2013 the Company managed to book Rp.30.8 trillion in net
sales, a growth of 12.7% compared to 2012.
Sales were derived from their two business segments, Home and Personal
Car and Foods and Refreshment. The
contributions made by each segment to net sales in 2013 were as follows: Home
and Personal Care, 72.9%; and Food and Refreshment, 27.1%.
According to financial statement audited by Tanudiredja, Wibisana &
Rekan, a noted public accountant, the total net sales of P.T. UIT in 2009
amounted to Rp. 18,246.9 billion with a net profit of Rp. 3,044.1 billion increased to Rp. 19,690.2 billion with a net
profit of Rp. 3,387.0 billion in 2010 to
Rp. 23,469.2 billion with a net profit of Rp. 4,164.3 billion in 2011 to Rp.
27,303.2 billion with a net profit of Rp. 4,839.1 billion in 2012 and rose
again to Rp 30,757.4 billion with a net profit of Rp 5,352.5 billion in 2013,
with total assets of Rp. 13,348.2 billion.
So far we have never heard that P.T. UIT has been black listed by Bank
Indonesia (central bank) or detrimental cases being settled in local district
court. Payment condition for domestic and overseas suppliers is good with the
credit payment system of 1 month to 3 months. Financial statements of 31
December 2010, 2011, 2012 and 2013 are attached.
Previously the president director of P.T. UIT was Mr. Nihal Vijaya
Devadas Kaviratne (66). But since
December 2003 he was replace by Mr. Maurits Daniel Rudolf Lalisang (59), has
been working for Unilever Indonesia for 34 years and has held various senior
positions. He graduated from the
University of Indonesia with a degree in Business Administration, and attended
the Advanced Executive Programme at the Kellogg Graduate School of Management
of the University of Chicago, USA in 2001.
Daily activities, he is assisted by Mr. Tevilyan Yudhistira Rusli, Mrs.
Debora Herawati Sadrach, Mr. Hadrianus Setiawan, Mrs. Ira Noviarti, Mr. Vishal
Gupta, Mrs. Enny Hartati, Mr. Ainul Yaqin, Mr. Sancoyo Antarikso and Mr.
Ramakrishnan Raghuraman, all are as directors. They have excellent reputation
in consumer goods industry and trade. The management has maintained a wide
business relation among private businessmen at home and abroad as well as among
government sectors. So far we have
never yet heard of the company’s management having been involved in business
malpractices.
We are sure that P.T. UNILEVER INDONESIA Tbk., is very feasible for
normal business transaction.
Attachment:
PT. UNILEVER INDONESIA Tbk
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
Per 31 December 2010, 2011, 2012 and 2013
(in million Rupiah)
|
DESCRIPTION |
31 December |
|||
|
2013 |
2012 |
2011 |
2010 |
|
|
A. ASSETS |
|
|
|
|
|
a. Current Assets |
|
|
|
|
|
- Cash and Cash Available |
261,202 |
229,690 |
336,143 |
317,759 |
|
- Trade debtors – allowance for doubtful |
|
|
|
|
|
* Third Parties |
2,988,303 |
2,253,397 |
1,877,699 |
1,445,450 |
|
* Related
Parties |
281,391 |
172,845 |
198,384 |
122,088 |
|
- Advances and other debtors |
171,374 |
240,633 |
112,197 |
185,095 |
|
- Inventories |
2,084,331 |
2,061,899 |
1,812,821 |
1,574,060 |
|
- Prepaid Taxes |
10,168 |
3,558 |
48,127 |
51,533 |
|
- Prepaid Expanses |
66,170 |
73,940 |
60,848 |
52,145 |
|
Total Current
Assets |
5,862,939 |
5,035,962 |
4,446,219 |
3,748,130 |
|
b. Non Current Assets |
|
|
|
|
|
- Fixed Assets |
6,874,177 |
6,283,479 |
5,314,311 |
4,148,778 |
|
- Goodwill |
61,925 |
61,925 |
61,925 |
61,925 |
|
- Intangible Assets |
479,876 |
533,157 |
584,152 |
646,356 |
|
- Advances to Employees’ Pension |
-- |
-- |
-- |
45,696 |
|
- Other Non-current Assets |
69,271 |
70,456 |
75,705 |
50,377 |
|
Total Non Current
Assets |
7,485,249 |
6,949,017 |
6,036,093 |
4,953,132 |
|
TOTAL LIABILITIES TOTAL ASSETS = &
STOCKHOLDERS’ EQUITY |
13,348,188 |
11,984,979 |
10,482,312 |
8,701,262 |
|
B. LIABILITIES &
STOCKHOLDERS’ EQUITY |
|
|
|
|
|
a. Current Liabilities |
|
|
|
|
|
- Bank Borrowings |
976,792 |
1,040,000 |
-- |
-- |
|
- Short-term loans |
-- |
-- |
699,160 |
190,000 |
|
- Trade Liabilities |
|
|
|
|
|
* Third Parties |
3,568,628 |
2,639,460 |
2,158,530 |
1,612,672 |
|
* Related
Parties |
195,916 |
124,609 |
275,730 |
203,921 |
|
- Tax Payable |
438,920 |
519,274 |
451,630 |
208,778 |
|
- Accruals |
1,841,112 |
2,239,481 |
2,209,403 |
1,460,974 |
|
- Other Payable |
1,365,278 |
935,778 |
680,141 |
726,595 |
|
- Long-term employee benefits obligations |
32,796 |
37,294 |
27,087 |
-- |
|
Total Current
Liabilities |
8,419,442 |
7,535,896 |
6,501,681 |
4,402,940 |
|
b. Non Current Liabilities |
|
|
|
|
|
- Deferred tax liabilities |
181,367 |
126,991 |
70,930 |
49,939 |
|
- Employee benefits obligations |
492,709 |
353,727 |
228,764 |
199,530 |
|
Total Non Current
Liabilities |
674,076 |
480,718 |
299,694 |
249,469 |
|
c. Minority Interest |
-- |
-- |
-- |
3,434 |
|
d. Stockholders Equity |
|
|
|
|
|
- Issued and Paid Up Capital |
76,300 |
76,300 |
76,300 |
76,300 |
|
- Additional
paid-in Capital |
96,000 |
96,000 |
15,227 |
15,227 |
|
- Balance arising from
restructuring transaction between entities under
common control |
-- |
-- |
80,773 |
80,773 |
|
- Appropriated retained earnings |
15,260 |
15,260 |
15,260 |
15,260 |
|
- Un-appropriated retained earnings |
4,067,110 |
3,780,805 |
3,489,008 |
3,857,859 |
|
- Equity attributable to owner of the company |
4,254,670 |
3,968,365 |
3,676,568 |
4,045,419 |
|
- Non-controlling interest |
-- |
-- |
4,369 |
3,434 |
|
Total Stockholders
Equity |
4,254,670 |
3,968,365 |
3,680,937 |
4,048,853 |
|
|
|
|
|
|
|
C. INCOME STATEMENTS |
|
|
|
|
|
a. Sales – Net |
30,757,435 |
27,303,248 |
23,469,218 |
19,690,239 |
|
b. Cost of Goods Sold |
(14,978,947) |
(13,414,122) |
(11,462,805) |
(9,485,274) |
|
c. Gross Profit |
15,778,488 |
13,889,126 |
12,006,413 |
10,204,965 |
|
d. Operating Expenses |
(8,614,043) |
(7,391,019) |
(6,438,303) |
(5,662,340) |
|
e.
Operating Profit |
7,164,445 |
6,498,107 |
5,568,110 |
4,542,625 |
|
f. Other Income (Expenses) |
(5,637) |
(31,342) |
(1,188,137) |
(3,982) |
|
g. Profit before income tax |
7,158,808 |
6,466,765 |
5,574,799 |
4,538,643 |
|
h.
Income tax |
(1,806,183) |
(1,627,620) |
(1,410,495) |
(1,153,995) |
|
i. Profit (loss) before minority interest |
5,352,625 |
4,839,145 |
4,164,304 |
3,386,970 |
|
j. Minority interest |
-- |
-- |
-- |
2,322 |
|
k. Net Profit |
5,352,625 |
4,839,145 |
4,164,304 |
3,386,970 |
Note: 31 December 2009, 2010, 2011 and 2012 audited by Tanudiredja,
Wibisana & Rekan (a member of
PricewaterhouseCoopers)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.84 |
|
UK Pound |
1 |
Rs.98.41 |
|
Euro |
1 |
Rs.80.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.