MIRA INFORM REPORT

 

 

Report Date :

17.10.2014

 

IDENTIFICATION DETAILS

 

Name :

PFANNENBERG ASIA PACIFIC PTE LTD

 

 

Registered Office :

61, TAI Seng Avenue, B1-01, Crescendas Print Media Hub, 534167

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

08.12.2001

 

 

Com. Reg. No.:

200107883-G

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading and Servicing of Cooling Systems Parts and Components

 

 

No. of Employees :

4

 

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 :

Slow but correct

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)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub

Source : CIA

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

200107883-G

COMPANY NAME

:

PFANNENBERG ASIA PACIFIC PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

08/12/2001

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

61, TAI SENG AVENUE, B1-01, CRESCENDAS PRINT MEDIA HUB, 534167, SINGAPORE.

BUSINESS ADDRESS

:

61 TAI SENG AVENUE, #B1-01 UE PRINT MEDIA HUB, 534167, SINGAPORE.

TEL.NO.

:

65-62939040

FAX.NO.

:

65-62993184

CONTACT PERSON

:

ANDREAS OTTO PFANNENBERG ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING AND SERVICING OF COOLING SYSTEMS PARTS AND COMPONENTS

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00

SALES

:

SGD 9,928,837 [2013]

NET WORTH

:

SGD 729,518 [2013]

STAFF STRENGTH

:

4 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

LIMITED

PAYMENT

:

GOOD

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The Subject is principally engaged in the (as a / as an) trading and servicing of cooling systems parts and components.

 

The immediate holding company of the Subject is PFANNENBERG GROUP HOLDING GMBH, a company incorporated in GERMANY.

 

Share Capital History

Date

Issue & Paid Up Capital

16/10/2014

SGD 100,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

PFANNENBERG GROUP HOLDING GMBH

WERNER-WITT-STR. 1, HAMBURG, 21035, GERMANY.

T05UF2718H

100,000.00

100.00

---------------

------

100,000.00

100.00

============

=====

+ Also Director

 

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :

 

Local No

Country

Company

(%)

As At

CHINA

PFANNENBERG (SUZHOU) PTE. LTD.

100.00

31/12/2013



DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

ANDREAS OTTO PFANNENBERG

Address

:

WELLINGSBUETTLER WEG 47, HAMBURG, 22391, GERMANY.

IC / PP No

:

1303273229

Nationality

:

GERMAN

Date of Appointment

:

08/12/2001

 

DIRECTOR 2

 

Name Of Subject

:

PHILIP KOH KOK KHENG

Address

:

47, JEDBURGH GARDENS, FRANKEL ESTATE, 457109, SINGAPORE.

IC / PP No

:

S1175330B

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/01/2010



MANAGEMENT

 

 

 

1)

Name of Subject

:

ANDREAS OTTO PFANNENBERG

Position

:

DIRECTOR

 

2)

Name of Subject

:

EVAN

Position

:

STAFF

 

 

 

AUDITOR

 

Auditor

:

C.S. CHOONG & CO.

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

IAN NG FOOK YUN

IC / PP No

:

S2565916C

Address

:

151, CAVENAGH ROAD, 09-161, CAVENAGH COURT, 229628, SINGAPORE.

 

 

 

BANKING


No Banker found in our databank.

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The Subject refused to disclose its suppliers.

The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

X

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

OPERATIONS

 

Goods Traded

:

COOLING SYSTEMS PARTS AND COMPONENTS

 

Total Number of Employees:

YEAR

2014

GROUP

N/A

COMPANY

4

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) trading and servicing of cooling systems parts and components.

The Subject is engaged in the Design & Supply of cooling systems for control panel, air/water heat exchangers and water chillers for industrial and telecommunication applications, Visual and audible alarms for industrial, oil and gas applications.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-62939040

Match

:

N/A

Address Provided by Client

:

61 TAI SENG AVENUE, #B1-01 UE PRINT MEDIA HUB, 534167, SINGAPORE

Current Address

:

61 TAI SENG AVENUE, #B1-01 UE PRINT MEDIA HUB, 534167, SINGAPORE.

Match

:

YES

 

Other Investigations


On 14th October 2014 we contacted one of the staff from the Subject and she provided some information.

FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Increased

[

19.49%

]

Profit/(Loss) Before Tax

:

Decreased

[

(49.08%)

]

Return on Shareholder Funds

:

Unfavourable

[

(44.06%)

]

Return on Net Assets

:

Unfavourable

[

(44.06%)

]

The higher turnover could be attributed to the favourable market condition and the Subject could be gaining the market share progressively.The Subject could be more efficient in controlling its operating costs and had managed to reduce its losses during the year. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns.

Working Capital Control

Stock Ratio

:

Unfavourable

[

71 Days

]

Debtor Ratio

:

Unfavourable

[

96 Days

]

Creditors Ratio

:

Favourable

[

17 Days

]

The Subject could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. The Subject's debtors ratio was high. The Subject should tighten its credit control and improve its collection period. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Unfavourable

[

0.73 Times

]

Current Ratio

:

Unfavourable

[

1.08 Times

]

A low liquid ratio means that the Subject may be facing working capital deficiency. If the Subject cannot obtain additional financing or injection of fresh capital, it may face difficulties in meeting its short term obligations.

Solvency

Interest Cover

:

Nil

[

0.00 Times

]

Gearing Ratio

:

Favourable

[

0.00 Times

]

The Subject's interest cover was nil as it did not pay any interest during the year. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

Overall Assessment :

The higher turnover had helped to reduce the Subject's losses. Due to its weak liquidity position, the Subject will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the Subject. The Subject did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

Overall financial condition of the Subject : LIMITED

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2009

2010

2011

2012

2013

 

Population (Million)

4.98

5.08

5.18

5.31

5.40

Gross Domestic Products ( % )

(0.8)

14.5

4.9

1.3

3.7

Consumer Price Index

0.6

2.8

5.2

4.6

2.4

Total Imports (Million)

356,299.3

423,221.8

459,655.1

474,554.0

466,762.0

Total Exports (Million)

391,118.1

478,840.7

514,741.2

510,329.0

513,391.0

 

Unemployment Rate (%)

3.2

2.2

2.1

2.0

1.9

Tourist Arrival (Million)

9.68

11.64

13.17

14.49

15.46

Hotel Occupancy Rate (%)

75.8

85.6

86.5

86.4

86.3

Cellular Phone Subscriber (Million)

1.37

1.43

1.50

1.52

1.97

 

Registration of New Companies (No.)

26,414

29,798

32,317

31,892

37,288

Registration of New Companies (%)

4.3

12.8

8.5

(1.3)

9.8

Liquidation of Companies (No.)

22,393

15,126

19,005

17,218

17,369

Liquidation of Companies (%)

113.4

(32.5)

25.6

9.4

(5.3)

 

Registration of New Businesses (No.)

26,876

23,978

23,494

24,788

22,893

Registration of New Businesses (%)

8.15

(10.78)

2.02

5.51

1.70

Liquidation of Businesses (No.)

23,552

24,211

23,005

22,489

22,598

Liquidation of Businesses (%)

11.4

2.8

(5)

(2.2)

0.5

 

Bankruptcy Orders (No.)

2,058

1,537

1,527

1,748

1,992

Bankruptcy Orders (%)

(11.5)

(25.3)

(0.7)

14.5

14.0

Bankruptcy Discharges (No.)

3,056

2,252

1,391

1,881

2,584

Bankruptcy Discharges (%)

103.7

(26.3)

(38.2)

35.2

37.4

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

3.25

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(1.93)

(10.5)

12.10

(0.5)

-

 

Manufacturing *

71.5

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

90.4

96.4

100.0

103.5

103.5

Textiles

145.9

122.1

100.0

104.0

87.1

Wearing Apparel

211.0

123.3

100.0

92.1

77.8

Leather Products & Footwear

79.5

81.8

100.0

98.6

109.8

Wood & Wood Products

101.4

104.0

100.0

95.5

107.4

Paper & Paper Products

95.4

106.1

100.0

97.4

103.2

Printing & Media

100.9

103.5

100.0

93.0

86.1

Crude Oil Refineries

96.4

95.6

100.0

99.4

93.5

Chemical & Chemical Products

80.3

97.6

100.0

100.5

104.1

Pharmaceutical Products

49.1

75.3

100.0

109.7

107.2

Rubber & Plastic Products

101.2

112.3

100.0

96.5

92.9

Non-metallic Mineral

91.9

92.5

100.0

98.2

97.6

Basic Metals

92.6

102.2

100.0

90.6

76.5

Fabricated Metal Products

90.8

103.6

100.0

104.3

105.1

Machinery & Equipment

57.3

78.5

100.0

112.9

114.5

Electrical Machinery

86.8

124.1

100.0

99.3

108.5

Electronic Components

85.2

113.6

100.0

90.6

94.3

Transport Equipment

96.0

94.0

100.0

106.3

107.5

 

Construction

(36.9)

14.20

20.50

28.70

-

Real Estate

1.4

21.3

25.4

31.9

-

 

Services

Electricity, Gas & Water

1.70

4.00

7.00

6.30

-

Transport, Storage & Communication

3.90

12.80

7.40

5.30

-

Finance & Insurance

(16.4)

(0.4)

8.90

0.50

-

Government Services

4.50

9.70

6.90

6.00

-

Education Services

0.10

(0.9)

(1.4)

0.30

-

 

* Based on Index of Industrial Production (2011 = 100)

(Source : Department of Statistics)



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale and retail trade sector contracted by 1.5% in the fourth quarter of 2012, extending the 0.2% decline in the preceding quarter. For the whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The sector was weighed down primarily by the wholesale trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4% growth in 2011. Growth of the retail trade segment also moderated to 2.0%, from 3.2% in the year 2011.

The domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an improvement from the 5.4% decline in the third quarter. This was partly due to an increase in the sales of chemicals & chemical products and ship chandlers & bunkering. For the full year of 2012, the domestic wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011. The foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase from the 6.6% growth in the third quarter. The expansion was partly due to resilient sales of petroleum & petroleum products. For the whole of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the 4.3% increase in 2011.

In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the third quarter of 2012. The sales volume of motor vehicles fell by 11% in the fourth quarter of 2012, after contracting by 6.1% in the third quarter. The sales of several discretionary items also declined in the fourth quarter. Besides, the sales of optical goods & books in 2012 fell by 3.6%, while the sales of telecommunications apparatus & computers declined by 1.4%.

For 2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods & toiletries registered the largest increase (9.3%) in sales, followed by telecommunications apparatus & computers (6.9%). By contrast, the sales of watches & jewellery (-2.2%) and optical goods & books (-3.6%) declined.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 2001, the Subject is a Private Limited company, focusing on trading and servicing of cooling systems parts and components. Having been in the industry for 13 years, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. A paid up capital of the Subject is only SGD 100,000. However, having strong support from its holding company has enabled the Subject to remain competitive despite the challenging business environment.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 4 employees. Overall, we regard that the Subject's management capability is weak. Without capable management, the Subject is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business.

Despite the higher turnover, the Subject suffered pre-tax losses which reflected a highly competitive business environment. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Due to its weak liquidity position, the Subject may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the Subject. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at SGD 729,518, the Subject should be able to maintain its business in the near terms.

Having a strong assets backing, the Subject possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises.

Overall, the Subject's payment habit is good as the Subject has a good credit control and it could be taking advantage of the cash discounts while maintaining a good reputation with its creditors.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.

Based on the above condition, we recommend credit be granted to the Subject normally.

 

 

 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

PFANNENBERG ASIA PACIFIC PTE LTD

 

Financial Year End

2013-12-31

2012-12-31

Months

12

12

Consolidated Account

GROUP

GROUP

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

SGD

SGD

TURNOVER

9,928,837

8,309,554

Other Income

53,924

72,275

----------------

----------------

Total Turnover

9,982,761

8,381,829

Costs of Goods Sold

(7,488,503)

(6,746,855)

----------------

----------------

Gross Profit

2,494,258

1,634,974

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

(321,456)

(631,291)

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

(321,456)

(631,291)

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

(321,456)

(631,291)

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

824,502

1,455,793

----------------

----------------

As restated

824,502

1,455,793

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

503,046

824,502

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

503,046

824,502

=============

=============

 

 

 

BALANCE SHEET

 

 

PFANNENBERG ASIA PACIFIC PTE LTD

 

ASSETS EMPLOYED:

FIXED ASSETS

285,556

306,309

Computer software

13,503

18,450

----------------

----------------

TOTAL INTANGIBLE ASSETS

13,503

18,450

----------------

----------------

TOTAL LONG TERM ASSETS

299,059

324,759

Stocks

1,931,921

2,185,395

Trade debtors

2,602,887

2,006,932

Other debtors, deposits & prepayments

571,188

541,295

Amount due from holding company

-

25,117

Cash & bank balances

853,862

766,360

----------------

----------------

TOTAL CURRENT ASSETS

5,959,858

5,525,099

----------------

----------------

TOTAL ASSET

6,258,917

5,849,858

=============

=============

CURRENT LIABILITIES

Trade creditors

339,964

303,858

Other creditors & accruals

5,003,687

4,373,716

Amounts owing to holding company

182,066

185,741

Provision for taxation

3,682

3,682

----------------

----------------

TOTAL CURRENT LIABILITIES

5,529,399

4,866,997

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

430,459

658,102

----------------

----------------

TOTAL NET ASSETS

729,518

982,861

=============

=============

SHARE CAPITAL

Ordinary share capital

100,000

100,000

----------------

----------------

TOTAL SHARE CAPITAL

100,000

100,000

Exchange equalisation/fluctuation reserve

24,300

(43,813)

Statutory reserve

102,172

102,172

Retained profit/(loss) carried forward

503,046

824,502

----------------

----------------

TOTAL RESERVES

629,518

882,861

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

729,518

982,861

----------------

----------------

729,518

982,861

=============

=============

 

 

 

FINANCIAL RATIO

 

 

PFANNENBERG ASIA PACIFIC PTE LTD

 

TYPES OF FUNDS

Cash

853,862

766,360

Net Liquid Funds

853,862

766,360

Net Liquid Assets

(1,501,462)

(1,527,293)

Net Current Assets/(Liabilities)

430,459

658,102

Net Tangible Assets

716,015

964,411

Net Monetary Assets

(1,501,462)

(1,527,293)

BALANCE SHEET ITEMS

Total Borrowings

0

0

Total Liabilities

5,529,399

4,866,997

Total Assets

6,258,917

5,849,858

Net Assets

729,518

982,861

Net Assets Backing

729,518

982,861

Shareholders' Funds

729,518

982,861

Total Share Capital

100,000

100,000

Total Reserves

629,518

882,861

LIQUIDITY (Times)

Cash Ratio

0.15

0.16

Liquid Ratio

0.73

0.69

Current Ratio

1.08

1.14

WORKING CAPITAL CONTROL (Days)

Stock Ratio

71

96

Debtors Ratio

96

88

Creditors Ratio

17

16

SOLVENCY RATIOS (Times)

Gearing Ratio

0.00

0.00

Liabilities Ratio

7.58

4.95

Times Interest Earned Ratio

0.00

0.00

Assets Backing Ratio

7.16

9.64

PERFORMANCE RATIO (%)

Operating Profit Margin

(3.24)

(7.60)

Net Profit Margin

(3.24)

(7.60)

Return On Net Assets

(44.06)

(64.23)

Return On Capital Employed

(43.26)

(63.05)

Return On Shareholders' Funds/Equity

(44.06)

(64.23)

Dividend Pay Out Ratio (Times)

0.00

0.00

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.48

UK Pound

1

Rs.98.24

Euro

1

Rs.78.66

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

PDT

 

               

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%)

 

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.