MIRA INFORM REPORT

 

 

Report No. :

335779

Report Date :

08.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SKY MAN INTERNATIONAL NV

 

 

Registered Office :

Scherpenhoek 70, 2850 Boom

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

02.10.1992

 

 

Com. Reg. No.:

448340532

 

 

Legal Form :

Public Limited Liability Company 

 

 

Line of Business :

Manufacture of Lifting and Handing Equipment.

 

 

No. of Employees :

35

 

 

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 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BELGIUM - ECONOMIC OVERVIEW

 

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank.

 

Source : CIA

 

 

Company summary

 

Business number                     448340532

Company name                        SKY MAN INTERNATIONAL NV

Address                                   SCHERPENHOEK 70

2850 BOOM

Number of staff                        35

Date of establishment               02/10/1992

Telephone number                   038446586

Fax number                              038442956

 

 

Commentary

 

The business was established over 22 years ago.

The business has 20 employees.

The business is part of a group.

The business has been at the address for over 2 years.

Operating Result in the latest trading period increased 52% on the previous trading period.

Pre-tax profits increased by 68% compared to the previous trading period.

The business saw an increase in their Cash Balance of 185% during the latest trading period.

Turnover in the latest trading period increased 29% on the previous trading period.

 

 

Accounts

 

DATE  OF 

LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

8,536,327

556,181

1,523,188

1,102,008

31/12/2012

6,579,413

330,458

1,424,209

1,034,499

31/12/2011

6,197,862

21,887

1,410,712

1,073,172

 

Accounts

 

DATE  OF 

LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

6,437,060

35

323,000

680,046

31/12/2012

5,776,385

31

323,000

494,422

31/12/2011

5,621,208

30

323,000

270,039

 

Payment Expectations

 

Past  payments

 

Payment  expectation  days

99.38

Industry  average  payment

67.17

Industry  average  day  sales

363.12

expectation  days

 

outstanding

 

Day  sales  outstanding

62.92

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                                  no

PROTESTED BILLS

Bill amount                                          -

NSSO DETAILS

Date of summons                                

 

 

Company information

 

Business  number

448340532

Company  name

SKY MAN INTERNATIONAL

NV

Fax  number

038442956

Date  founded

02/10/1992

Company  status

Active

Company  type

Public Limited Liability

Company (BE)

Currency

Euro (€)

Date  of  latest  accounts

31/12/2013

Activity  code

28220

Liable  for  VAT

Yes

Activity  description

Manufacture of lifting and handling equipment

VAT  Number

BE.0448.340.532 Check VAT

number

Belgian  Bullettin  of  Acts Publications

moniteur belge

 

 

 

 

Contractor details

 

Registered contractor

Number                        022811

Contractor description Various contractors

Date struck off register 22/12/2003 00:00:00

 

 

Joint Industrial Committee (JIC)

 

JIC Code                      111

Description                  JC for the metal, machinery and electrical construction

category

JIC Code                      209

Description                  Joint committee for the employees off the metal industry

category

Significant Events

Event Date                    03/07/2012

Event Description         resignation-appointment of director(s)

Event Details                Commentaar 18-06-2012: Leemans Management Services Bvba wordt benoemd als uitvoerend voorzitter (Executive Chairman) van de raad van bestuur.

 

 

Company accounts

 

Annual accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total fixed assets

1,994,181

-4.55

2,089,219

-2.80

2,149,456

-3.13

2,218,910

-5.89

2,357,885

Intangible fixed assets

311,231

5.69

294,472

11.41

264,304

75.62

150,501

4.08

144,601

Tangible fixed assets

1,664,108

-6.30

1,775,904

-5.78

1,884,902

-8.86

2,068,159

-6.55

2,213,034

Land & building

700,907

-2.73

720,585

1.90

707,137

-2.66

726,459

-2.63

746,103

Plant & machinery

30,989

-44.29

55,621

-2.85

57,252

-30.10

81,908

-0.53

82,345

Furniture & Vehicles

39,480

122

17,709

-27.22

24,333

-35.00

37,434

-7.22

40,348

Leasing & Other Similar Rights

877,680

-10.28

978,219

-10.22

1,089,546

-10.17

1,212,860

-8.94

1,331,875

Other tangible assets

15,052

299

3,770

-43.17

6,634

-30.15

9,498

-23.17

12,362

Financial fixed assets

18,842

0.00

18,842

7436

250

0

250

0

250

 

 

 

 

 

 

 

 

 

 

Total current assets

4,442,879

20.50

3,687,166

6.20

3,471,751

-7.51

3,753,787

-0.96

3,790,049

Inventories

2,217,351

10.75

2,002,036

23.37

1,622,763

-30.14

2,322,756

7.42

2,162,280

Raw materials & consumables

1,420,436

-12.62

1,625,589

5.91

1,534,841

-9.73

1,700,237

9.08

1,558,738

Work in progress

796,915

111

376,448

328

87,922

-82.82

511,738

-15.21

603,542

Finished goods

0

-

0

-

0

-100

110,781

-

0

Other stocks

0

0

-1

-

0

-

0

-

0

Trade debtors

1,471,457

40.96

1,043,872

3.39

1,009,608

52.96

660,068

5.15

627,760

Other amounts receivable

349,544

-15.45

413,439

-10.45

461,693

8.66

424,890

11.65

380,550

 

Cash

344,781

185

120,856

-58.99

294,697

0.88

292,113

-41.40

498,496

Miscellaneous current assets

59,747

-44.14

106,963

28.89

82,990

53.80

53,961

-55.39

120,962

Total Assets

6,437,060

11.44

5,776,385

2.76

5,621,208

-5.88

5,972,698

-2.85

6,147,933

Liabilities

 

 

 

 

 

 

 

 

 

Total shareholders equity

1,834,419

6.73

1,718,681

2.61

1,675,016

0.91

1,659,936

2.85

1,613,980

Issued share capital

323,000

0

323,000

0

323,000

0

323,000

0

323,000

Share premium account

-

-

-

-

-

-

-

-

 

Revaluation reserve

-

-

-

-

-

-

-

-

----------

Reserves

1,511,419

8.29

1,395,681

3.23

1,352,016

1.13

1,336,936

3.56

1,290,980

Provisions for Liabilities & Charges

0

-

0

-

0

-

0

-

0

Deffered taxes

-

-

6,118

-50.00

12,236

-33.33

18,355

-25.00

24,473

Creditors

4,602,641

13.60

4,051,586

2.99

3,933,955

-8.39

4,294,407

-4.77

4,509,481

Other long term loans

1,261,170

-9.85

1,398,919

-8.89

1,535,376

-9.02

1,687,527

-10.50

1,885,498

Long term group loans  

-

-

-

-

-

-

-

-

-

Other long term liabilities

600

-

0

-

0

-

0

-

0

Total long term debts

1,261,770

-10.20

1,405,037

-9.21

1,547,613

-9.28

1,705,881

-10.69

1,909,971

Current portion of long term debt

138,438

1.45

136,457

-10.31

152,151

-28.01

211,358

3.41

204,387

Financial debts

548,530

22.14

449,086

-3.27

464,259

20.04

386,740

53.66

251,690

Trade creditors

2,118,829

25.45

1,688,988

10.06

1,534,593

-8.52

1,677,585

18.58

1,414,777

Amounts Payable for Taxes, Remuneration & Social Security

218,057

10.07

198,101

-12.02

225,164

6.33

211,754

-58.13

505,713

Miscellaneous current liabilities

317,018

76.09

180,035

703

22,413

-81.24

119,442

-51.72

247,417

Total current liabilities

3,340,871

25.94

2,652,667

10.59

2,398,579

-7.99

2,606,880

-0.65

2,623,983

Total Liabilities

6,437,060

11.44

5,776,385

2.76

5,621,208

-5.88

5,972,698

-2.85

6,147,933

 

RATIO ANALYSIS

 

Profit Before Tax

6.52

29.88

5.02

1334

0.35

-72.00

1.25

-85.88

8.85

Return on capital employed

17.96

69.75

10.58

1455

0.68

-72.02

2.43

-87.55

19.52

Return on total assets employed

8.64

51.05

5.72

1366

0.39

-71.53

1.37

-87.76

11.19

Return on net assets employed

30.32

57.67

19.23

1367

1.31

-73.43

4.93

-88.44

42.63

Sales / net working capital

7.75

21.86

6.36

10.03

5.78

1.58

5.69

-14.69

6.67

Stock turnover ratio

25.98

-14.62

30.43

16.23

26.18

-26.44

35.59

27.98

27.81

Creditor days

99.38

-1.90

101.30

9.47

92.54

-3.96

96.36

27.75

75.43

Debtor days

62.92

8.65

57.91

-2.61

59.46

61.05

36.92

25.28

29.47

Current ratio

1.33

-4.32

1.39

-4.14

1.45

0.69

1.44

0

1.44

 

Liquidity ratio / acid ratio

0.67

4.69

0.64

-16.88

0.77

40.0

0.55

-11.29

0.62

Current debt ratio

1.82

18.18

1.54

7.69

1.43

-8.92

1.57

-3.68

1.63

Liquidity ratio reprocessed

-

-

-

--

-

-

-

-

-

Cashflow

680,046

37.54

494,422

83.09

270,039

-14.68

316,519

-59.35

778,698

Net worth

1,523,188

6.95

1,424,209

0.96

1,410,712

-6.54

1,509,435

2.73

1,469,378

Gearing

106.20

-8.02

115.46

-10.12

128.46

-6.70

137.69

-5.09

145.08

Equity in percentage

29.95

-4.47

31.35

0.26

31.27

9.68

28.51

6.06

26.88

Total debt ratio

2.51

6.36

2.36

0

2.36

-9.23

2.60

-7.47

2.81

Working capital

1,102,008

6.53

1,034,499

-3.60

1,073,172

-6.43

1,146,907

-1.64

1,166,066

 

PROFIT & LOSS

 

Operating  Income

9,046,527

28.62

7,033,490

21.36

5,795,630

-12.40

6,615,894

-16.15

7,890,406

Turnover

8,536,327

29.74

6,579,413

6.16

6,197,862

-5.03

6,525,836

-16.08

7,776,010

Total  operating  expenses

7,781,995

27.87

6,085,687

0.55

6,052,528

-4.75

6,354,286

-7.19

6,846,349

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

8,292,195

26.80

6,539,764

15.74

5,650,296

-12.32

6,444,344

-7.42

6,960,745

Employee  costs

2,067,764

9.44

1,889,445

2.18

1,849,141

-9.55

2,044,453

13.86

1,795,635

Wages  and  salary

1,438,309

7.47

1,338,287

1.79

1,314,736

-5.02

1,384,286

14.23

1,211,797

Employee  pension  costs

6,713

109

3,210

110

1,523

687

193

-

-

Social  security  contributions

481,338

10.38

436,084

-0.41

437,885

-12.77

501,999

19.74

419,223

Other  employee  costs

141,404

26.41

111,864

17.75

94,997

-39.87

157,975

-4.03

164,615

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

262,426

1.37

258,876

6.50

243,077

-6.03

258,681

-10.53

289,134

Operating  result

754,332

52.78

493,726

239

145,334

-15.28

171,550

-81.55

929,661

Total  financial  income

47,578

27.88

37,206

-30.97

53,899

-65.47

156,108

241

45,717

Total  financial  expenses

245,730

22.57

200,473

13.04

177,347

-27.86

245,843

-14.46

287,408

Results  on  ordinary  operations before  taxation

556,181

68.31

330,458

1409

21,887

-73.25

81,814

-88.11

687,969

Extraordinary  Income

74,976

302

18,620

243

5,422

53.06

3,543

-91.50

41,697

Extraordinary  Charges

1,470

-

-

-

41

-98.84

3,544

-

-

Extraordinary  items

73,507

294

18,620

246

5,381

404598

-1

-100

41,697

Results  for  the  Year  Before  Taxation

629,688

80.39

349,078

1180

27,268

-66.67

81,813

-88.79

729,666

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

218,186

82.35

119,650

1762

6,424

-78.65

30,093

-87.78

246,219

Results  on  ordinary  operations  after taxation

337,995

60.33

210,808

1263

15,462

-70.10

51,722

-88.29

441,750

Net  result

417,620

77.30

235,546

773

26,962

-53.38

57,838

-88.19

489,565

Profit  (Loss)  for  the  Year  to  be appropiated

417,620

77.30

235,546

773

26,962

-53.38

57,838

-88.19

489,565

Dividend

290,000

61.11

180,000

-

-

-

-

-

240,125

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2013

 

 

 

Full-time  Employees

 

34

 

Part-time  Employees

 

2

 

Total  Fte  Employees

 

35

 

 

 

 

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

53,596

 

Part-time  Employees

 

1,651

 

Total

 

55,247

 

 

 

 

 

Personnel  Charges

 

 

 

Full-time  Employees

 

1,999,459

 

Part-time  Employees

 

61,592

 

Total

 

2,061,051

 

Benefits  In  Addition  To  Wages

 

52,530

 

 

 

 

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

33

 

Actual  working  hours

 

53,376

 

Personnel  Charges

 

1,886,235

 

Benefits  In  Addition  To  Wages

 

51,340

 

 

 

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration Contracts

34

2

35

 

Gender  and  Education

 

 

 

Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

15

-

15

Secondairy  education

 

 

 

Higher  education  (non university)

16

2

17

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non university)

3

-

3

Higher  education (university)

-

-

-

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

19

2

20

Blue  collar  worker

15

-

15

Other

-

-

-

 

 

 

 

Temporary  personnel

 

Total

 

Average  number  of  temporary  staff

 

2

 

Actual  working  hours

 

3,727

 

Cost  of  temporary  staff

 

156,642

 

 

 

Payment INFORMATION

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

Details

-

 

 

Payment  expectations

 

Payment  expectation  days

99.38

Day  sales  outstanding

62.92

 

 

Industry  comparison

 

Activity  code

28220

Activity  description

Manufacture of lifting and handling equipment

Industry  average  payment expectation  days

67.17

Industry  average  day  sales outstanding

363.12

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

99.38

Lower

115.78

Median

75.58

Upper

44.84

 

 

Day  sales  outstanding

 

Company  result

62.92

Lower

75.38

Median

40.63

Upper

21.73

 

 

Shareholder Details

 

Group Structure

 

Company name

Number

Latest

financials

- LEEMANS MANAGEMENT SERVICES BVBA

C 877845446

31-12-2014

- - SKY MAN INTERNATIONAL NV

[ 448340532

31-12-2013

- - - SKYMAN, INC

m

 

Minority Shareholders

 

Business           Company name number

Date of accounts

 

884334152          Pro-Bel Europe BVBA

31/12/2013

 

 

Minority  Interests

No  minority  interests  found

 

Companies  that  match  this  address

no  Companies  Match  this  address

 

Protested Bills

There  is  no  data  for  this  company

 

Bankruptcy  and  other  legal  events

there  is  no  data  for  this  company

 

 

Summons

 

 

Legal  event  type

Social  Security  Summons

 

Event  date

13/12/2005

 

Court  type

Court  name

Antwerpen

Creditor's  name

3rd  party  type

 

Legal  event  type

Social  Security  Summons

 

Event  date

03/10/2000

 

 

 

 

Court  type

 

Court  name

Creditor's  name

 

3rd  party  type

Legal  event  type

Social  Security  Summons

 

Event  date

20/09/1999

 

Court  type

 

Court  name

Creditor's  name

 

3rd  party  type

Legal  event  type

Social  Security  Summons

 

Event  date

17/05/1999

 

Court  type

 

Court  name

Creditor's  name

 

3rd  party  type

Legal  event  type

Social  Security  Summons

 

Event  date

15/03/1999

 

Court  type

 

Court  name

Creditor's  name

 

3rd  party  type

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Name

LEEMANS  MANAGEMENT  SERVICES  BVBA

Position

Chairman  of  the  Board

Start  Date

20/06/2011

End  Date

19/06/2017

Date  of  birth

28/11/2005

Street

7 KERLEMEERS  AFFLIGEM

Post  code

1790

Country

Belgium

 

Position

Legal  Representative

Start  Date

18/10/2006

Date  of  birth

28/11/2005

Street

7 KERLEMEERS  AFFLIGEM

Post  code

1790

Country

Belgium

Name

GOCON  BVBA

Position

Managing  Director

Start  Date

03/07/2012

End  Date

02/06/2018

Date  of  birth

03/07/2012

Street

124 STEENWEG  OP  AALST  OPWIJK

Post  code

1745

Country

Belgium

Position

Director

Start  Date

03/07/2012

Date  of  birth

03/07/2012

Street

124 STEENWEG  OP  AALST  OPWIJK

Post  code

1745

Country

Belgium

Position

Legal  Representative

Start  Date

03/07/2012

Date  of  birth

03/07/2012

Street

124 STEENWEG  OP  AALST  OPWIJK

Post  code

1745

Country

Belgium

Name

HANS  DE  WOLF

Position

Director

Start  Date

20/06/2011

End  Date

19/06/2017

Street

 

Post  code

 

Country

Luxembourg

 

 

FORMER  DIRECTOR  DETAILS

 

Name

LEEMANS  MANAGEMENT  SERVICES  BVBA

Position

Managing  Director

Start  Date

18/10/2006

End  Date

31/12/2011

Date  of  birth

28/11/2005

Street

7 KERLEMEERS  AFFLIGEM

Post  code

1790

Country

Belgium

Position

Director

Start  Date

20/06/2011

End  Date

31/12/2012

Date  of  birth

28/11/2005

Street

7 KERLEMEERS  AFFLIGEM

Post  code

1790

Country

Belgium

 

Name

KRIS  GOOVAERS

Position

Director

Start  Date

20/06/2011

End  Date

03/07/2012

Street

40 HEIRBAAN  OPWIJK

Post  code

1745

Country

Belgium

Name

HUGO  LEEMANS

Position

Director

Start  Date

12/08/2010

End  Date

Unknown  date

Street

7 KERLEMEERS  AFFLIGEM

Post  code

1790

Country

Belgium

Name

KRIS  GOVAERT

Position

Director

Start  Date

20/06/2011

End  Date

31/12/2013

Date  of  birth

23/01/1980

Street

40 HEIRBAAN  OPWIJK

Post  code

1745

Country

Belgium

Position

Legal  Representative

Start  Date

01/07/2012

End  Date

Unknown  date

Date  of  birth

23/01/1980

Street

40 HEIRBAAN  OPWIJK

Post  code

1745

Country

Belgium

Name

MARC  SCHOOFS  &  CO  BVBA

Position

Commissioner

Start  Date

18/06/2001

End  Date

Unknown  date

Date  of  birth

30/12/1992

Street

177 PRINS  BOUDEWIJNLAAN  ANTWERPEN

Post  code

2610

Country

Belgium

Name

DAVID  STREET

Position

Managing  Director

Start  Date

18/10/2006

End  Date

31/12/2010

Street

30 STEELE  VALLEY  COURT

Post  code

L1R  2M4

Country

Canada

Position

Director

Start  Date

18/10/2006

End  Date

31/12/2011

Street

30 STEELE  VALLEY  COURT

Post  code

L1R  2M4

Country

Canada

 

Name

MARC  LEBEL

Position

Director

Start  Date

18/10/2006

End  Date

20/06/2011

Street

476 CHALK  LAKE  ROAD

Post  code

L9L  2B7

Country

Canada

Name

BERTUS  MARTINUS  ZWANENBURG

Position

Director

Start  Date

18/10/2006

End  Date

31/12/2011

Street

9 MUUS  JACOBSEPAD  SOMMELSDIJK

Post  code

3245RM

Country

The  Netherlands

Name

BERTUS  MARTINUS  ZWAENBURG

Position

Director

Start  Date

18/10/2006

End  Date

31/12/2010

Street

9 MUUS  JACOBSEPAD  SOMMELSDIJK

Post  code

3245 RM

Country

The  Netherlands

Name

TRUST  REPAIR  BUITENL.VEN

Position

Managing  Director

Start  Date

24/03/1999

End  Date

Unknown  date

Street

35 ANTHONETTA  KUIJLSTRAAT  ROTTERDAM

Post  code

3089TP

Country

The  Netherlands

Position

Director

Start  Date

20/08/1999

End  Date

Unknown  date

Street

35 ANTHONETTA  KUIJLSTRAAT  ROTTERDAM

Post  code

3089TP

Country

The  Netherlands


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.63.76

UK Pound

1

Rs.99.60

Euro

1

Rs.69.71

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

 

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.