MIRA INFORM REPORT

 

 

Report Date :

27.09.2014

 

IDENTIFICATION DETAILS

 

Name :

GENERAL FOOD TRADING COMPANY LIMITED

 

 

Formerly Known As :

GFT (WHOLESALE) LIMITED

 

 

Registered Office :

3 Viveash Close Hayes Middlesex Ub3 4RY

 

 

Country :

United Kingdom

 

 

Date of Incorporation :

12/01/1993

 

 

Com. Reg. No.:

02778964

 

 

Legal Form :

Private limited with Share Capital

 

 

Line of Business :

Wholesaling and distribution of foodstuffs

 

 

No. of Employees :

Not Available

 

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

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)

United Kingdom

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

UNITED KINGDOM - ECONOMIC OVERVIEW

 

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the  past two decades, the government has greatly reduced public ownership. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, are key drivers of British GDP growth. Manufacturing, meanwhile, has declined in importance but still accounts for about 10% of economic output. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Falling home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these included nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from about 11% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 largely due to the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of £375 billion (approximately $605 billion) as of December 2013. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy, however, in 2013 GDP grew 1.4%, accelerating unexpectedly in the second half of the year because of greater consumer spending and a recovering housing market. The budget deficit is falling but remains high at nearly 7% and public debt has continued to increase

 

Source : CIA

 

 

 

 

Company name

 

GENERAL FOOD TRADING COMPANY LIMITED

 

Company Summary

 

Registered Address

3 VIVEASH CLOSE
HAYES
MIDDLESEX
UB3 4RY

Trading Address

3 Viveash Close
Hayes
Middlesex
UB3 4RY

Company number        02778964

Website Address          http://www.gft-ltd.co.uk

Telephone Number      02088487555

TPS No

FPS No

Incorporation Date       12/01/1993

 

Previous Name            GFT (WHOLESALE) LIMITED

Type                            Private limited with Share Capital

Date of Change            22/02/1993

Filing Date of Accounts 30/09/2013

Currency                      GBP

Share Capital              £365,000

SIC07                           46390

Charity Number           -

SIC07 Description        NON-SPECIALISED WHOLESALE OF FOOD, BEVERAGES AND TOBACCO

Principal Activity         Wholesaling and distribution of foodstuffs.

 

 

Trade Debtors / Bad Debt Summary

Total Number of Documented Trade   2

Total Value of Documented Trade       £1,322

 

Commentary

 

No exact match CCJs are recorded against the company.

 

Net Worth increased by 549.4% during the latest trading period.

 

A 18.7% growth in Total Assets occurred during the latest trading period.

 

The company saw a decrease in their Cash Balance of 34.4% during the latest trading period.

 

The movement in accumulated earnings would indicate that the company incurred a loss after tax and other appropriations, including dividends.

 

 

There has been no significant change in the company's credit rating.

 

There has been no significant change in the company's credit limit.

 

The company is exempt from audit.

 

No recent changes in directorship are recorded.

 

The company is not part of a group.

 

The company was established over 21 years ago.

 

 

 

Show more

CCJ

Total Number of Exact CCJs -

0

Total Value of Exact CCJs -

 

Total Number of Possible CCJs -

0

Total Value of Possible CCJs -

 

Total Number of Satisfied CCJs -

0

Total Value of Satisfied CCJs -

 

Total Number of Writs -

-

 

 

Back to Top

Payment Information

 

Number of Experiences

1

 

Trade Payment Information

 

Average Invoice Value

276.02

Invoices available

93

Paid

91

Outstanding

2

 

Enquiries Trend

There have been 71 enquiries in the last 12 months.

There are an average of 6 reports taken each month.

 

 

 

3 MONTHS

6 MONTHS

9 MONTHS

Enquiries

6

16

40

Created with Highcharts 4.0.4616403 months6 months9 months051015202530354045

Show more

Total Current Directors

3

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

5

 

 

Current Directors

 

Name

Hussein Ali Charchafchi

Date of Birth

10/10/1945

Officers Title

Mr

Nationality

British

Present Appointments

8

Function

Director

Appointment Date

22/02/1993

 

 

Address

Windfall George Road, Kingston Upon Thames, Surrey, KT2 7NR

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Murtadha Hassan Ali

Date of Birth

01/01/1945

Officers Title

 

Nationality

 

Present Appointments

2

Function

Director

Appointment Date

14/05/1993

 

 

Address

Po Box 2536, Ruwi 112, Oman

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

Ali Mohammed Ali Charchafchi

Date of Birth

08/04/1983

Officers Title

Mr

Nationality

British

Present Appointments

11

Function

Director

Appointment Date

03/08/2009

 

 

Address

High Pine Warren Park, Kingston Upon Thames, Surrey, KT2 7HX

Other Actions

View Director Report

View Consumer Report

View AML Report

 

View Trace Report

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Current Company Secretary

Name

Ali Mohammed Ali Charchafchi

Date of Birth

-

Officers Title

Mr

Nationality

 

Present Appointments

1

Function

Company Secretary

Appointment Date

12/01/2011

 

 

Address

High Pine Warren Park, Kingston Upon Thames, Surrey, KT2 7HX

Other Actions

 

View Consumer Report

View Trace Report

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

MR MOHAMMED ALI CHARCHAFCHI

GBP

146,000

ORDINARY

1

40

MR HUSSEIN ALI CHARCHAFCHI

GBP

146,000

ORDINARY

1

40

MR MURTADHA HASAN ALI

GBP

73,000

ORDINARY

1

20

 

 

Profit & Loss

 

Date Of Accounts

31/12/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

(%)

31/07/08

 

Weeks

74

(%)

52

(%)

52

(%)

52

(%)

52

 

Currency

GBP

(%)

GBP

(%)

GBP

(%)

GBP

(%)

GBP

 

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

-

-

-

-

-

-

-

-

-

Export

-

-

-

-

-

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

-

-

-

-

-

Depreciation

£60,321

70.9%

£35,289

21.2%

£29,120

-45.2%

£53,116

13.1%

£46,977

Audit Fees

-

-

-

-

-

-

-

-

-

Interest Payments

-

-

-

-

-

-

-

-

-

Pre Tax Profit

-

-

-

-

-

-

-

-

-

Taxation

-

-

-

-

-

-

-

-

-

Profit After Tax

-

-

-

-

-

-

-

-

-

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

-

-

-

-

-

-

-

-

-

 

 

Balance Sheet

 

Date Of Accounts

31/12/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

(%)

31/07/08

Tangible Assets

£1,581,160

100.8%

£787,400

-0.3%

£790,132

0.3%

£787,816

0.5%

£783,688

Intangible Assets

£24,333

-

0

-

0

-

0

-

0

Total Fixed Assets

£1,605,493

103.9%

£787,400

-0.3%

£790,132

0.3%

£787,816

0.5%

£783,688

Stock

£307,744

-32.2%

£453,952

-40%

£757,030

-2.4%

£775,291

57.9%

£491,055

Trade Debtors

£367,200

-45.4%

£672,822

-10.7%

£753,474

-11.8%

£854,539

4.1%

£821,263

Cash

£9,475

-34.4%

£14,441

123.8%

£6,453

-69.5%

£21,150

-11.9%

£24,017

Other Debtors

0

-

0

-

0

-

0

-

0

Miscellaneous Current Assets

0

-

0

-

0

-

0

-

0

Total Current Assets

£684,419

-40%

£1,141,215

-24.8%

£1,516,957

-8.1%

£1,650,980

23.5%

£1,336,335

Trade Creditors

£1,125,807

-9.7%

£1,247,425

-6.3%

£1,331,856

-4.3%

£1,391,077

28.2%

£1,085,493

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

0

-

0

-

0

-

0

-

0

Miscellaneous Current Liabilities

0

-

0

-

0

-

0

-

0

Total Current Liabilities

£1,125,807

-9.7%

£1,247,425

-6.3%

£1,331,856

-4.3%

£1,391,077

28.2%

£1,085,493

Bank Loans & Overdrafts and LTL

£334,090

-40%

£557,122

-9.8%

£617,549

-12.3%

£704,477

-5.3%

£743,941

Other Long Term Finance

0

-

0

-

0

-

0

-

0

Total Long Term Liabilities

£334,090

-40%

£557,122

-9.8%

£617,549

-12.3%

£704,477

-5.3%

£743,941

.

 

Capital & Reserves

 

Date Of Accounts

31/12/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

(%)

31/07/08

Called Up Share Capital

£365,000

-

£365,000

-

£365,000

-

£365,000

-

£365,000

P & L Account Reserve

-£910,522

-277.9%

-£240,932

-999.9%

-£7,316

66.4%

-£21,758

70.8%

-£74,411

Revaluation Reserve

£843,596

-

-

-

-

-

-

-

-

Sundry Reserves

£531,941

-

-

-

-

-

-

-

-

Shareholder Funds

£830,015

569%

£124,068

-65.3%

£357,684

4.2%

£343,242

18.1%

£290,589

 

 

Other Financial Items

 

Date Of Accounts

31/12/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

(%)

31/07/08

Net Worth

£805,682

549.4%

£124,068

-65.3%

£357,684

4.2%

£343,242

18.1%

£290,589

Working Capital

-£441,388

-315.6%

-£106,210

-157.4%

£185,101

-28.8%

£259,903

3.6%

£250,842

Total Assets

£2,289,912

18.7%

£1,928,615

-16.4%

£2,307,089

-5.4%

£2,438,796

15%

£2,120,023

Total Liabilities

£1,459,897

-19.1%

£1,804,547

-7.4%

£1,949,405

-7%

£2,095,554

14.5%

£1,829,434

Net Assets

£830,015

569%

£124,068

-65.3%

£357,684

4.2%

£343,242

18.1%

£290,589

 

 

Miscellaneous

 

Date Of Accounts

31/12/12

(%)

31/07/11

(%)

31/07/10

(%)

31/07/09

(%)

31/07/08

 

Contingent Liability

NO

-

NO

-

NO

-

NO

-

NO

Capital Employed

£1,164,105

70.9%

£681,190

-30.2%

£975,233

-6.9%

£1,047,719

1.3%

£1,034,530

Number of Employees

-

-

-

-

-

-

-

-

-

 

Auditors

 

 

Auditor Comments

The company is exempt from audit

 

Bankers

BARCLAYS BANK PLC

 

Bank Branch Code

 

 

Ratios

 

Date Of Accounts

31/12/12

31/07/11

31/07/10

31/07/09

31/07/08

Pre-tax profit margin %

-

-

-

-

-

Current ratio

0.61

0.91

1.14

1.19

1.23

Sales/Net Working Capital

-

-

-

-

-

Gearing %

40.30

449

172.70

205.20

256

Equity in %

36.60

6.40

15.50

14.10

13.70

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.33

0.55

0.57

0.62

0.77

Return On Capital Employed %

-

-

-

-

-

Return On Total Assets Employed %

-

-

-

-

-

Current Debt Ratio

1.35

10.05

3.72

4.05

3.73

Total Debt Ratio

1.75

14.54

5.45

6.10

6.29

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

-

-

-

-

-

 

 

Summary Directors/Shareholders Financials Event History Group Structure Media Solutions

Status History Event History Rating History Limit History Previous Company Names

Status History

No Status History found

 

 

Event History

 

Date

Description

29/01/2014

Annual Returns

05/10/2013

New Accounts Filed

05/10/2013

New Accounts Filed

12/02/2013

Annual Returns

05/05/2012

New Accounts Filed

05/05/2012

New Accounts Filed

24/01/2012

Annual Returns

03/05/2011

New Accounts Filed

03/05/2011

New Accounts Filed

15/02/2011

Annual Returns

14/02/2011

Mr M.A. Charchafchi has resigned as company secretary

14/02/2011

New Company Secretary Mr A.M. Charchafchi appointed

14/02/2011

New Board Member Mr A.M. Charchafchi appointed

14/06/2010

New Board Member Mr A.M. Charchafchi appointed

11/06/2010

Mr M.A. Charchafchi has left the board

 

 

 

 

Previous Company Names

Date

Previous Name

22/02/1993

GFT (WHOLESALE) LIMITED

19/01/1993

OPENBID LIMITED

 

Statistics

Group

-

Linkages

0 companies

Countries

In 0 countries

 

Summary

Holding Company

-

Ownership Status

 

Ultimate Holding Company

-

 

Group structure

No group structure



Statistics

Group

0 companies

Linkages

0 companies

Countries

In 0 countries

 

 

Mortgage Details

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

14/09/05

 

 

Date Charge Registered:

16/09/05

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BARCLAYS BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

F/H 3 VIVEASH CLOSE HAYES

 

Mortgage Type:

DEBENTURE

Date Charge Created:

20/07/05

 

 

Date Charge Registered:

28/07/05

 

 

Date Charge Satisfied:

-

 

 

Status:

OUTSTANDING

 

 

Person(s) Entitled:

BARCLAYS BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURESFIXED PLANT AND MACHINERY

 

Mortgage Type:

DEBENTURE

Date Charge Created:

14/09/01

 

 

Date Charge Registered:

20/09/01

 

 

Date Charge Satisfied:

20/09/05

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

ARAB BANK PLC

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE UNDER THE TERMS OF THE CHARGE AND ON ANY ACCOUNT WHATSOEVER

Details:

THE F/H PROPERTY K/A 3 VIVEASH CLOSE HAYES MIDDLESEX T/N AGL54825 FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

28/08/98

 

 

Date Charge Registered:

08/09/98

 

 

Date Charge Satisfied:

29/01/03

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

BANQUE FRANCAISE DE L'ORIENT

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

LAND/BLDS KNOWN AS 3 VIVEASH CLOSE,HAYES,MIDD\X; T/NO AGL 54825; SEE FORM 395 UNDERTAKING AND ALL PROPERTY AND ASSETS

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

22/11/95

 

 

Date Charge Registered:

23/11/95

 

 

Date Charge Satisfied:

14/12/99

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

F/H UNIT 26 CYGNUS BUSINESS CENTRE II 416-424 HIGH ROAD WILLESDEN LONDON NW10 PART OF MX122220 AND GOODWILL OF THE BUSINESS FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

03/10/94

 

 

Date Charge Registered:

05/10/94

 

 

Date Charge Satisfied:

21/12/98

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

F/H LAND AND PROPERTY K/A UNIT 25 CYGNUS BUSINESS CENTRE AT 416-424 HIGH ROAD WILLESDEN PART TITLE NO MX122220 TOG WITHALL BUILDINGS STRUCTURES FITTINGS FIXEDPLANT MACHINERY AND EQUIPMENT ANY PROCEEDSOF INSURANCE THE GOODWILL OF THE BUSINESS FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT

 

Mortgage Type:

DEBENTURE

Date Charge Created:

03/10/94

 

 

Date Charge Registered:

05/10/94

 

 

Date Charge Satisfied:

21/12/98

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE GOVERNOR AND COMPANY OF THE BANK OF IRELAND

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

F/H LAND AND PROPERTY K/A UNIT 25 CYGNUS BUSINESS CENTRE AT 416-424 HIGH ROAD WILLESDEN LONDON PARTTITLE NO MX122220 FIXED AND FLOATING CHARGES OVER THE UNDERTAKING AND ALL PROPERTY AND ASSETS PRESENT AND FUTURE INCLUDING GOODWILL BOOKDEBTS UNCALLED CAPITAL BUILDINGS FIXTURES FIXED PLANT AND MACHINERY

 

Mortgage Type:

LEGAL CHARGE

Date Charge Created:

05/05/94

 

 

Date Charge Registered:

09/05/94

 

 

Date Charge Satisfied:

14/12/99

 

 

Status:

SATISFIED

 

 

Person(s) Entitled:

THE GOVERNOR & THE COMPANY OF THE BANK OF IRELAND

Amount Secured:

ALL MONIES DUE OR TO BECOME DUE FROM THE COMPANY TO THE CHARGEE ON ANY ACCOUNT WHATSOEVER

Details:

F/H LAND AND PROPERTY K/AS UNIT NO.24 CYGNUS BUSINESS CENTRE AT 416-424 HIGH ROAD, WILLESDEN, LONDONNW10 FORMING PART OF T/NO MX122220 AND ALL BUILDINGS AND FIXTURES THE GOODWILL OF THE BUSINESS FLOATING CHARGE OVER ALL MOVEABLE PLANT MACHINERY IMPLEMENTS UTENSILS FURNITURE AND EQUIPMENT SEE THE MORTGAGE CHARGE DOCUMENT FOR FULL DETAILS

 

 

 

Creditor Details

 

 

Total Number

Total Value

Trade Creditors

0

-

 

No Creditor Data

 

Trade Debtors / Bad Debt Detail

 

Total Number of Documented Trade

Total Value of Documented Trade

Trade Debtors

2

£1,322

 

Company Name

Amount

Statement Date

Sun Fresh Supermarket Limited

£1,146

21/03/2014

Flexitron Limited

£176

24/02/2010

 

 

Previous Director/Company Secretaries

 

Name

Current Directorships

Previous Directorships

Mohammed Ali Radhi Charchafchi

5

10

Mohammed Ali Radhi Charchafchi

5

10

Nizar Abdul Latif

2

4

SEVERNSIDE NOMINEES LIMITED

318

9515

SEVERNSIDE NOMINEES LIMITED

318

9515

 

Average Invoice Value

£276.02

Invoices available

93

Paid

91

Outstanding

2

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

63

25

2

1

0

Outstanding

0

0

0

0

2

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.57

UK Pound

1

Rs.100.42

Euro

1

Rs.78.44

 

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

 

--

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