MIRA INFORM REPORT

 

 

Report Date :

10.11.2014

 

IDENTIFICATION DETAILS

 

Name :

CAN THO IMPORT EXPORT SEAFOOD JSC

 

 

Registered Office :

Lot 2.12 Tra Noc II Industrial Zone, O Mon, Can Tho

 

 

Country :

Vietnam

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

23.06.2009

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of Seafood & Fishing Industry

 

 

No. of Employees :

1,695

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Vietnam

B1

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

VIETNAM - ECONOMIC OVERVIEW

 

Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Vietnamese authorities have reaffirmed their commitment to economic modernization in recent years. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to less than 20% in 2013, while industry's share increased from 36% to more than 42% in the same period. State-owned enterprises account for about 40% of GDP. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession hurt Vietnam's export-oriented economy, with GDP in 2013 growing at 5%, the slowest rate of growth since 1999. In 2013, however, exports increased by more than 12%, year-on-year; several administrative actions brought the trade deficit back into balance. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value remained relatively stable in 2013. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. In February 2011, the government shifted from policies aimed at achieving a high rate of economic growth, which had stoked inflation, to those aimed at stabilizing the economy, through tighter monetary and fiscal control. Although Vietnam unveiled a broad, "three pillar" economic reform program in early 2012, proposing the restructuring of public investment, state-owned enterprises, and the banking sector, little perceptible progress has been made. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses.

 

Source : CIA

 

Company name and address

 

Organization Name

:

CAN THO IMPORT EXPORT SEAFOOD JSC (1)

Address

:

Lot 2.12 Tra Noc II Industrial Zone, O Mon, Can Tho

Country

:

Vietnam

Phone (S)

:

[+84] 710-3841289

Facsimile

:

[+84] 710-3841116

Email

:

sales@caseamex.com

Website

:

http://www.caseamex.com

Primary Business Activity

:

Manufacturer

Key Industry

:

Seafood & Fishing Industry

 

Key Facts

Registered Legal Address

:

Lot 2.12 Tra Noc II Industrial Zone, O Mon, Can Tho

Operational Address

:

Lot 2.12 Tra Noc II Industrial Zone, O Mon, Can Tho

Trading Name

:

CASEAMEX

Name History

:

Business Entity Name

Effective Date

XI NGHIEP CHE BIEN THUC PHAM XUAT KHAU CAN THO (KATACO)

30 Dec, 1995

CONG TY CO PHAN XUAT NHAP KHAU THUY SAN CAN THO

26 Jan, 2006

Issuing Authority

:

Dept. of Planning & Investment - Can Tho

License Number

:

1800632306

License Status

:

License exists - Normal.

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

23 Jun, 2009

Employees

:

1,695

Capital

:

US$ 5,489,355

Note

:

(1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Vo Dong Duc

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

 

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Vo Dong Duc

Vietnamese

Managing Director

-

2

Mr. Le Thanh Duoc

Vietnamese

Deputy Managing Director

-

3

Mr. Nguyen Chi Thao

Vietnamese

Deputy Managing Director

-

4

Mr. Nguyen Khac Trung

Vietnamese

Chief Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI02337076

Name

:

Mr. Vo Dong Duc

 

Date of Birth

:

1954

Identification Number(s)

      National ID No

:

360045871

 

 

 

Management Details - 2

Personal Unique Identifier

:

MI02338669

Name

:

Mr. Le Thanh Duoc

 

Date of Birth

:

1967

 

Management Details - 3

Personal Unique Identifier

:

MI02338668

Name

:

Mr. Nguyen Chi Thao

 

Date of Birth

:

1968

 

Management Details - 4

Personal Unique Identifier

:

MI02338671

Name

:

Mr. Nguyen Khac Trung

 

Date of Birth

:

1965

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI02337076

Name

:

Mr. Vo Dong Duc

Date of Birth

:

1954

Identification Number(s)

National ID No

:

360045871

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing CAN THO IMPORT EXPORT SEAFOOD JSC's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

http://www.asiancredit.com/Manage/Image/space.gif

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 114,993,200,000

Paid-up Capital

:

₫ 114,993,200,000

 

 

 

Date

Authorized Capital - History

2006

28,000,000,000

31 Dec, 2006

25,280,000,000

6 Mar, 2007

56,160,000,000

31 Dec, 2008

56,814,800,000

27 Jul, 2010

62,496,280,000

2012

114,993,200,000

 

SHAREHOLDERS

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

UNDISCLOSED SHAREHOLDERS

Vietnam

n/a

68,995,920,000

60.00

2

Mr. Vo Dong Duc

Vietnam

n/a

26,448,436,000

23.00

3

GOVERNMENT OF THE SOCIALIST REPUBLIC OF VIETNAM

Vietnam

n/a

19,548,844,000

17.00

Total

n/a

114,993,200,000

100.00

 

 

Based on corporate statutory laws / regulations in Vietnam, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

PAYMENT INFORMATION

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

10%

International Sales (Export)

90%

Annual Purchases Analysis

Percentage

Local Purchases

80%

Imports

20%

 

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Export

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Received at time of transaction

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

 

The following provides a summary of the number of businesses that are related to CAN THO IMPORT EXPORT SEAFOOD JSC:

 

TYPE

DOMESTIC

TOTAL

Subsidiaries

1

Joint-Ventures

-

Minority shareholdings

-

Affiliates

-

Liaison / Representative Offices

-

 

Domestic

 

Business Entity Name

:

CAN THO IMPORT EXPORT FISHERY LTD CO

Global Identifier

:

P3134404

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Lot 4 Tra Noc 1 Industrial Zone, Binh Thuy Dist, Can Tho

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2008 Annual  

33,862,183

34,930,881

793,848

2012 Annual  

34,326,323

34,698,670

81,106

2013 Annual  

28,667,319

39,845,287

477,426

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

Current Assets(*)

565,720,000,000

702,218,000,000

Non Current Assets(*)

156,868,000,000

138,043,000,000

Non Current Liabilities(*)

26,497,000,000

13,467,000,000

Share Capital(*)

99,997,000,000

114,993,000,000

Total Reserves(*)

-

-

Other long term assets 

Total Assets(*)

722,588,000,000

840,261,000,000

Total Liabilities(*)

537,108,000,000

640,819,000,000

Current Liabilities(*)

510,611,000,000

627,352,000,000

Long term liabilities 

Shareholders Funds(*)

185,480,000,000

199,442,000,000

 

ASSETS 

Current assets & short term investments

565,720,000,000

702,218,000,000

Cash & cash equivalents

15,913,000,000

3,457,000,000

Cash

15,913,000,000

3,457,000,000

Accounts receivable

322,261,000,000

479,406,000,000

Accounts receivable trade

286,885,000,000

388,931,000,000

Trade prepayment

1,281,000,000

993,000,000

Others receivables

57,062,000,000

112,449,000,000

Provision for bad debts

(22,967,000,000)

(22,967,000,000)

Inventories

222,997,000,000

210,230,000,000

Inventories*

222,997,000,000

210,230,000,000

Other short term asset

4,549,000,000

9,125,000,000

Prepaid expenses

2,469,000,000

2,115,000,000

VAT deductible

572,000,000

5,873,000,000

Other short term asset*

1,508,000,000

11,370,000,000

Long term assets

156,868,000,000

138,043,000,000

Fixed assets

131,802,000,000

116,729,000,000

Tangible fixed assets

106,884,000,000

91,828,000,000

Cost

195,566,000,000

196,914,000,000

Accumulated depreciation *

88,682,000,000

105,086,000,000

Intangible fixed assets

22,608,000,000

22,070,000,000

Cost*

26,884,000,000

26,884,000,000

Accumulated depreciation

4,276,000,000

4,814,000,000

Construction in progress

2,310,000,000

2,831,000,000

Long term investments

15,300,000,000

15,300,000,000

Invest to joint venture company

15,300,000,000

15,300,000,000

Other long term assets

9,766,000,000

6,014,000,000

Long term prepayments

9,766,000,000

6,014,000,000

Total assets

722,588,000,000

840,261,000,000

Liabilities

537,108,000,000

640,819,000,000

Current liabilities

510,611,000,000

627,352,000,000

Short term borrowings

255,690,000,000

258,468,000,000

Accounts payables-trade

205,516,000,000

319,845,000,000

Advances from customers

6,989,000,000

336,000,000

Taxes and payable to state budget

2,504,000,000

439,000,000

Payable to employees

7,431,000,000

5,319,000,000

Accrued expenses payable

3,880,000,000

1,000,000,000

Other payables

29,758,000,000

48,606,000,000

Long term liabilities

26,497,000,000

13,467,000,000

Long term other payables

-

7,750,000,000

Long term borrowings

8,120,000,000

5,717,000,000

Payable income tax delay

18,377,000,000

-

Owners equity

185,480,000,000

199,442,000,000

Owners equity*

185,480,000,000

199,442,000,000

Business capital

99,997,000,000

114,993,000,000

Share capital's surplus

66,466,000,000

57,936,000,000

Foreign exchange differences

1,786,000,000

-

Business development funds

9,898,000,000

9,692,000,000

Other funds from owners equity

5,333,000,000

5,229,000,000

Retained earnings

2,000,000,000

11,592,000,000

Budget sources

-

-

Bonus and welfare funds

(1,157,000,000)

(6,661,000,000)

Total resources

722,588,000,000

840,261,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

Turnover(*)

714,834,000,000

604,539,000,000

Profit (Loss) Before Tax(*)

2,238,000,000

10,686,000,000

Profit After Tax attributable to Shareholders(*)

1,689,000,000

10,068,000,000

 

Gross sales

714,834,000,000

604,539,000,000

Less deductions

1,143,000,000

2,187,000,000

Net income

713,691,000,000

602,352,000,000

Cost of goods sold

621,139,000,000

530,906,000,000

Gross margin

92,552,000,000

71,446,000,000

Income from financial activities

3,553,000,000

5,885,000,000

Expenses from financial activities

20,304,000,000

14,813,000,000

In which: Interest expenses

20,304,000,000

13,323,000,000

Selling expenses

69,519,000,000

46,216,000,000

General & administration expenses

5,872,000,000

5,877,000,000

Net income from operating activities

410,000,000

10,425,000,000

Extraordinary income

2,340,000,000

261,000,000

Extraordinary expenses

512,000,000

-

Extraordinary gains

1,828,000,000

261,000,000

Net profit before tax

2,238,000,000

10,686,000,000

Income tax

549,000,000

618,000,000

Net profit after tax

1,689,000,000

10,068,000,000

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2012 Annual

2013 Annual

Growth % 

 

 

 

 

Year-on-Year Growth

-

(15.43)

Profitability 

Profit Margin (%)

0.24

1.67

Return on Equity (%)

0.91

5.05

Return on Assets (%)

0.23

1.20

Leverage 

Total Debt Equity (Times)

2.90

3.21

Current Debt Equity (Times)

2.75

3.15

Long Term Debt to Equity

0.14

0.07

Total Asset To Total Equity

3.90

4.21

Asset Management 

Total Assets Turnover (Times)

0.99

0.72

Fixed Assets Turnover (Times)

4.56

4.38

Liquidity 

Current Ratio

1.11

1.12

 

Based on the corporate laws of Vietnam, legal entities which are Joint Stock Company are not required to make public disclosure of their annual financials. Although basic financials were obtained for reference.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000048 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

 

Report Details

 

 

 

 

 

 

Country

:

Vietnam

Business Entity Name

:

CAN THO IMPORT EXPORT SEAFOOD JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Seafood & Fishing Industry

Office Contact Details

Operating Address

:

Lot 2.12 Tra Noc II Industrial Zone, O Mon, Can Tho

Tel

:

[+84] 710-3841289

 

:

[+84] 710-3744619

 

:

[+84] 710-3841989

 

:

[+84] 710-3842344

Fax

:

[+84] 710-3841116

 

:

[+84] 710-3842341

Email

:

sales@caseamex.com
caseamex@vnn.vn

Website Details

Website

:

http://www.caseamex.com

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

Tax / VAT Details

Tax Issuing Authority

:

Ministry of Finance

Local Name Used

:

Gia Trj Gia Tang (Value Added Tax)

Acronym

:

GTGT / VAT

GTGT / VAT Number

:

1800632306

Date of Issuance

:

30 Jun, 2006

 

Primary Products

Products / Materials / Services Description

Activity

Breaded fish

Manufacturing, Exporting

Fish fillet

Manufacturing, Exporting

Pangasius breaded fillets

Manufacturing, Exporting

Seafood

Manufacturing, Exporting

Shrimps

Manufacturing, Exporting

 

International Trade - Statistics  (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2008

n/a

32,169,074

32,169,074

2012

n/a

30,893,690

30,893,690

2013

n/a

25,800,587

25,800,587

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Fish & Seafoods

5146

Manufacturing, Exporting

Fresh/Frozen Fish/Seafoods, NEC

2092

Manufacturing, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Fish & crustaceans

0300

Manufacturing, Exporting

Fish fillets & other fish meat, fresh, chilled or frozen

0304

Manufacturing, Exporting

Fish fillets nesoi, frozen

0304207500

Manufacturing, Exporting

Fish prepared or preserved

1604206090

Manufacturing, Exporting

Molluscs & aquatic invertebrates nesoi, live etc

0307

Manufacturing, Exporting

Shrimps and prawns, peeled, frozen

0306130040

Manufacturing, Exporting

Shrimps and prawns, prepared nesoi, frozen

1605201030

Manufacturing, Exporting

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of CAN THO IMPORT EXPORT SEAFOOD JSC is Manufacturing - Finished products.

Key products include :

Breaded fish

Fish fillet

Pangasius breaded fillets

Seafood

Shrimps


An integral part of the core business includes:

Distribution

 

Supplementary Business

In addition to the core business, CAN THO IMPORT EXPORT SEAFOOD JSC also is engaged in the following areas of business:

Exporting

Exporting - Natural food items, Unprocessed (Meats, Produce or Seafood)

Importing

Importing - Natural food items, Unprocessed (Meats, Produce or Seafood)

 

 

BANK DETAILS

Bank Name

:

DONG A COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P1007587

Branch

:

Phu Nhuan,Ho Chi Minh

Branch Address

:

Can Tho

SWIFT Code

:

EACBVNVX

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM - CAN THO

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

VIET NAM INT'L COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0741176

Branch

:

Dong Da,Hanoi

Branch Address

:

Can Tho

SWIFT Code

:

VNIBVNVX

 

Bank Name

:

VIETNAM DEVELOPMENT BANK , THE

Global Identifier

:

P2215949

Branch Address

:

VIETNAM DEVELOPMENT BANK , THE - CAN THO

SWIFT Code

:

This bank does not have a SWIFT Code

 

Bank Name

:

VIETNAM MARITIME COMMERCIAL JOINT STOCK BANK JSC

Global Identifier

:

32404826

Branch

:

Dong Da,Hanoi

Branch Address

:

Can Tho

SWIFT Code

:

MCOBVNVX

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

CAN THO IMPORT EXPORT SEAFOOD JSC - DISTRICT 6, HO CHI MINH

Branch Address

:

D024 Chung Cu An Phu 961 Hau Giang St Ward 11, District 6, Ho Chi Minh

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

Europe

Medium

Importing, Exporting

North America

Medium

Exporting

China

Medium

Exporting

Germany

Medium

Importing

India

Medium

Exporting

Japan

Medium

Exporting

Malaysia

Medium

Importing

Singapore

Medium

Importing

USA

Medium

Exporting

 

 

 

 

 

 

 

 

 

OFFICE & FACILITIES

 

The following information relates to the Business Entity's office as listed above:

 

Name

:

CAN THO IMPORT EXPORT SEAFOOD JSC - O MON, CAN THO

Primary Use

:

Office & Administration facilities

Type of Location

:

Industrial Area

Address

:

Lot 2.12 Tra Noc II Industrial Zone, O Mon, Can Tho

Country

:

Vietnam

Ownership of Property

:

Rented / Leased

Status

:

Operational

 

 

 

 

COMPANY HISTORY

 

Date

Details

2006 - Jan

Changed its legal form from Government Enterprise into Joint Stock Company.

 

 

 

 

AWARDS

 

 

 

 

#

Award Name

Awarded by

Awarded Date

1

HALAL CERTIFICATE

COMMISSION BOARD OF ISLAM

2012 - May 28

 

 

 

 

 

 

 

 

QUALITY ACCREDITATION

 

 

 

Quality Accreditation Listings

 

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2008

 

 

 

 

PREVIOUS BUSINESS LICENSE/S

 

 

 

License Date

License No.

30 Dec, 1995

4553/QD-UBND

26 Jan, 2006

5703000210

 

 

 

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.52

UK Pound

1

Rs.97.39

Euro

1

Rs.76.16

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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

 

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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%)

 

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.