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Report Date : |
14.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MYANMA TIMBER ENTERPRISE [MTE] |
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Registered Office : |
Gyogone Forest Compound, Bayint Naung Road, Insein Tsp, Yangon |
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Country : |
Myanmar |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
09.02.1948 |
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Com. Reg. No.: |
SEC VXII-FR |
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Legal Form : |
State Owned Concern |
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Line of Business : |
Subject is engaged in Extracting, Milling and Marketing both Domestic
and Export of Teak and Nonteak Hardwood. |
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No. of Employees : |
30,000 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
|
Myanmar |
B2 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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Company name |
MYANMA TIMBER ENTERPRISE [MTE] |
|
Risk |
SUBJECT IS CONSIDERED TO BE GOOD FOR ANY NORMAL BUSINESS ENGAGEMENT |
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Status |
Active |
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Company name |
MYANMA TIMBER ENTERPRISE [MTE] |
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Trading name |
MYANMA TIMBER ENTERPRISE [MTE] |
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Operative address |
GYOGONE FOREST COMPOUND, BAYINT NAUNG ROAD, INSEIN TSP, YANGON,
MYANMAR |
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Correspondence address |
PO BOX 206 STRAND ROAD CRNR OF AHLONE ROAD, AHLONE, YANGON MYANMAR |
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Telephone number |
95-1 220644, 220652, 220641, 222200, 252440, 528789 |
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Fax number |
95-1 221816, 254228, 528731 |
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Email address |
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Website |
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Registration number |
ESTABLISHED AS PER ACT OF 1948 SEC VXII-FR OF 1948 |
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VAT-number |
Unknown |
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Status |
Active |
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Establishment date |
09 02 1948 AS A STATE TIMBER BOARD [STB], IN
1989 RENAMED AS MYANMA TIMBER ENTERPRISE |
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Legal form |
STATE OWNED CONCERN |
|
Subscribed share capital |
STATE OWNED CONCERN |
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SUBJECT IS A MAJOR ORGANIZATION OF MYANMAR MINISTRY OF FORESTRY, IS ENGAGED
IN EXTRACTING, MILLING AND MARKETING BOTH DOMESTIC AND EXPORT OF TEAK AND
NONTEAKHARDWOOD. ONLY THIS STATE OWNED CO IS AUTHORIZED TO EXTRACT FOREST
TIMBER, PRODUCTS ARE SAWN, SQUARES, POSTS, BOARDS, TEAK PLANKS, TEAK
SCANTLINGS, TEAK LOGS, SLEPPERS,HARDWOOD LOGS IN VARIOUS SIZES, ALL LOGS ARE
SOLD BY TENDER, OTHER PRODUCTS ARE TEAK GARDEN FURNITURE, FLOORING, PARQUET
TEAK, LAM-PARQUET, TEAK MOLDING, TEAK SKIRTING AND PANEL DOORS. EXPORTS TEAK,
HARDWOOD, OTHER WOODS, TIMBER PRODUCTS AND LOGS, IMPORTER OF INDUSTRIAL
MACHINERY AND TECHNOLOGIES, IT USES IMPERIAL SYSTEM OF INCHES AND FEET IN
MEASURING SIZES OF TIMBER/LOGS WHILE NO METRIC SYSTEM LIKE MM'S AND EM'S IS
USED. SUBJECT OPERATES 96 STATE-OWNED SAWMILLS, 4 PLYWOOD FACTORIES, 6
FURNITURE AND MOULDING AND 1224 RECUTTING MILLS |
|
Shareholders |
STATE OWNED 100% |
|
Associates |
MINISTRY OF FORESTRY |
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Branches |
330 PYAY ROAD YANGON NO (72/74) SHAWE DAGON PAGODA ROAD, DAGON TSP, YANGON ND IN MANDALAYA
AND BAGO+ |
|
Management |
U KHIN MAUNG YEE - MANAGING DIRECTOR U SEIN WHET - DIRECTOR/MANAGER U WAI KYING U AYE KYAW U LWIN OO MAUNG U NYUNT WIN U TYN OO |
|
Year |
2014 |
|
|
30.000 |
MYANMAR FOREIGN TRADE BANK POBOX 203 YANGON
SUBJECT AND BANKS ARE LEARNT TO BE GOOD RELATED
|
Remarks |
Import/export: WORLDWIDE |
|
CAPITAL AS AT |
31 12 2013 IN
KYAT/ MILLION [UNAUDITED] |
|
Intangible Assets |
5803.50 |
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Property, Plant/Equipment |
7430.60 |
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Investments |
5513.54 |
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Total Non-Current Assets |
18747.64 |
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Inventories |
5480.00 |
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Receivable |
6120.80 |
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Cash/Cash Equivalents |
1532.10 |
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Total Current Assets |
13132.90 |
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Total Assets |
31880.54 |
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Invested & govt. Funds |
9766.05 |
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Reserves/Surplus |
3980.32 |
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Non-Current Liabilities |
3151.50 |
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Deferred Liabilities |
5467.60 |
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Borrowings |
9515.07 |
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Total Liabilities |
31880.54 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.25 |
|
|
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.