MIRA INFORM REPORT

 

 

Report No. :

335583

Report Date :

14.08.2015

 

IDENTIFICATION DETAILS

 

Name :

SOC TRANG SEAFOOD JSC

 

 

Registered Office :

220 National Rd 1A Ward 7, Soc Trang, Soc Trang

 

 

Country :

Vietnam

 

 

Financials (as on) :

December, 2014

 

 

Date of Incorporation :

05.05.2011

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of Food Products.

 

 

No. of Employees :

3,486

 

 

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)

Vietnam

A2

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. Agriculture's share of economic output has shrunk from about 25% in 2000 to 18% in 2014, while industry's share increased from 36% to 38% in the same period. State-owned enterprises now account for only about 40% of GDP.

 

Vietnamese authorities have reaffirmed their commitment to economic modernization and a more open economy. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam joined the 12-nation Trans-Pacific Partnership free trade agreement negotiations in 2010.

 

Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value has remained relatively stable since then. 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.

 

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 to restructure public investment, state-owned enterprises, and the banking sector, Hanoi’s progress in meeting its goals is lagging behind its proposed schedule. Vietnam's economy continues to face challenges from an undercapitalized banking sector and non-performing loans weigh heavily on banks and businesses.

 

Source : CIA

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

Organization Name

:

SOC TRANG SEAFOOD JSC (1)

Address

:

220 National Rd 1A Ward 7, Soc Trang, Soc Trang

Country

:

Vietnam

Phone (S)

:

[+84] 79-3822367

Facsimile

:

[+84] 79-3823620

Email

:

stapimex@hcm.vnn.vn

Website

:

http://www.stapimex.com.vn

Primary Business Activity

:

Manufacturer

Key Industry

:

Food Products

 

Key Facts

Registered Legal Address

:

220 National Rd 1A Ward 7, Soc Trang, Soc Trang

Operational Address

:

220 National Rd 1A Ward 7, Soc Trang, Soc Trang

Trading Name

:

STAPIMEX

Name History

:

Business Entity Name

Effective Date

CONG TY THUY SAN XUAT NHAP KHAU TONG HOP SOC TRANG

17 Nov, 1996

CONG TY CO PHAN THUY SAN SOC TRANG

8 May, 2006

Issuing Authority

:

Dept. of Planning & Investment - Soc Trang

License Number

:

2200108445

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

:

5 May, 2011

Employees

:

3,486

Capital

:

US$ 3,558,310

PREVIOUS BUSINESS LICENSE/S

 

License Date

License No.

17 Nov, 1996

100675

8 May, 2006

5903000041

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. Ha Huu Tri

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Van Mang Nguyen

Vietnamese

Deputy Managing Director

-

2

Ms. Au Chau Phuong

Vietnamese

Chief Accountant

-

3

Mr. Ha Huu Tri

Vietnamese

Deputy Managing Director

-

4

Mr. Tran Van Pham

Vietnamese

Managing Director

-

5

Mr. Ta Van Vung

Vietnamese

Deputy Managing Director

-

Management Details - 2

Personal Unique Identifier

:

MI03048308

Name

:

Ms. Au Chau Phuong

Date of Birth

:

1969

Management Details - 3

Personal Unique Identifier

:

MI03048284

Name

:

Mr. Ha Huu Tri

Date of Birth

:

1959

Management Details - 4

Personal Unique Identifier

:

MI03048278

Name

:

Mr. Tran Van Pham

Date of Birth

:

1967

Country

University / College name

Qualification

Major

Vietnam

n/a

Master's Degree

n/a

Management Details - 5

Personal Unique Identifier

:

MI03618142

Name

:

Mr. Ta Van Vung

Date of Birth

:

1971

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03048284

Name

:

Mr. Ha Huu Tri

Date of Birth

:

1959

2

 

 

Personal Unique Identifier

:

MI03048278

Name

:

Mr. Tran Van Pham

Date of Birth

:

1967

Country

University / College name

Qualification

Major

Vietnam

n/a

Master's Degree

n/a

 

3

 

 

Personal Unique Identifier

:

MI03048301

Name

:

Mr. Van Mang Nguyen

Date of Birth

:

1967

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing SOC TRANG 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

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 77,500,000,000

 

SHAREHOLDERS

Total number of shareholders

:

n/a

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

UNDISCLOSED SHAREHOLDERS

n/a

n/a

n/a

53.54

2

Ms. Thi Bay Nguyen

Vietnam

n/a

n/a

10.09

3

Mr. Ta Van Vung

Vietnam

n/a

n/a

9.94

4

VIETNAM PUBLIC COMMERCIAL JOINT STOCK BANK

Vietnam

n/a

n/a

7.00

5

Mr. Ha Huu Tri

Vietnam

n/a

n/a

3.18

6

Ms. Au Chau Phuong

Vietnam

n/a

n/a

2.54

7

Mr. Vo Van Danh

Vietnam

n/a

n/a

2.44

8

Mr. Tran Van Bang

Vietnam

n/a

n/a

2.18

9

Mr. Dang Khoa Nguyen

Vietnam

n/a

n/a

2.13

10

Mr. Van Tan Nguyen

Vietnam

n/a

n/a

1.36

11

Mr. Tran Van Pham

Vietnam

n/a

n/a

1.29

12

Mr. Tran Thi Cam Pha

Vietnam

n/a

n/a

1.22

13

Mr. Van Mang Nguyen

Vietnam

n/a

n/a

1.18

14

Mr. Pham Thanh Phong

Vietnam

n/a

n/a

1.10

15

Ms. Tran Kim Phung

Vietnam

n/a

n/a

0.31

16

Mr. Ha Thanh Tuan

Vietnam

n/a

n/a

0.20

17

Ms. Ha Thanh Trang

Vietnam

n/a

n/a

0.11

18

Mr. Tran Van Phao

Vietnam

n/a

n/a

0.08

19

Mr. Van Cuong Nguyen

Vietnam

n/a

n/a

0.07

20

Mr. Ha Huu Tam

Vietnam

n/a

n/a

0.04

Total

n/a

n/a

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

 

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

Year

Imports

Exports

Total

2011

n/a

80,212,693

80,212,693

2012

n/a

85,854,213

85,854,213

2013

n/a

129,800,357

129,800,357

 

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 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 - Unsecured 30~60 days

Import

Letter of Credit (At-sight)

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

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/A

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2012 Annual  

107,317,767

34,273,981

717,371

2013 Annual  

162,250,446

38,742,532

978,514

2014 Annual  

254,957,387

62,511,067

1,335,865

 

Sales Trend – Analysis

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

-

-

-

-

-

-

-

-

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

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

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2010 Annual

80,930,272

28,737,301

1,268,138

2011 Annual

100,265,867

32,475,660

1,197,984

 

FINANCIAL STATEMENT – DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Current Assets(*)

553,293,000,000

669,724,000,000

1,199,173,000,000

Non Current Assets(*)

160,451,000,000

147,282,000,000

122,536,000,000

Non Current Liabilities(*)

0

0

0

Share Capital(*)

77,500,000,000

77,500,000,000

77,500,000,000

Other long term assets 

Total Assets(*)

713,744,000,000

817,006,000,000

1,321,709,000,000

Total Liabilities(*)

483,507,000,000

578,849,000,000

1,111,249,000,000

Current Liabilities(*)

483,507,000,000

578,849,000,000

1,111,249,000,000

Long term liabilities 

Shareholders Funds(*)

230,237,000,000

238,157,000,000

210,460,000,000

 

Current assets & short term investments

553,293,000,000

669,724,000,000

1,199,173,000,000

Cash & cash equivalents

7,124,000,000

194,000,000

810,000,000

Cash

7,124,000,000

194,000,000

810,000,000

Short term investments

-

-

91,150,000,000

Short term securities investments

-

-

91,150,000,000

Accounts receivable

183,179,000,000

345,656,000,000

408,759,000,000

Accounts receivable trade

169,949,000,000

331,006,000,000

344,803,000,000

Trade prepayment

24,671,000,000

27,830,000,000

50,761,000,000

Others receivables

2,640,000,000

1,459,000,000

29,194,000,000

Provision for bad debts

(14,081,000,000)

(14,639,000,000)

(15,999,000,000)

i. Inventories

349,343,000,000

309,963,000,000

683,260,000,000

ii. Inventories

349,343,000,000

309,963,000,000

683,260,000,000

i. Other short term asset

13,647,000,000

13,911,000,000

15,194,000,000

VAT deductible

4,938,000,000

4,788,000,000

6,157,000,000

ii. Other short term asset

8,709,000,000

9,123,000,000

9,037,000,000

Long term assets

160,451,000,000

147,282,000,000

122,536,000,000

Fixed assets

154,069,000,000

141,459,000,000

117,046,000,000

Tangible fixed assets

126,073,000,000

113,654,000,000

89,076,000,000

i. Cost

293,953,000,000

293,698,000,000

298,280,000,000

i. Accumulated depreciation

167,880,000,000

180,044,000,000

209,204,000,000

Intangible fixed assets

14,998,000,000

14,985,000,000

14,954,000,000

ii. Cost

15,095,000,000

15,095,000,000

14,954,000,000

ii. Accumulated depreciation

97,000,000

110,000,000

-

Construction in progress

12,998,000,000

12,820,000,000

13,016,000,000

Long term investments

5,000,000,000

5,000,000,000

5,000,000,000

Other long term investments

5,000,000,000

5,000,000,000

5,000,000,000

Other long term assets

1,382,000,000

823,000,000

490,000,000

Long term prepayments

1,382,000,000

823,000,000

490,000,000

Total assets

713,744,000,000

817,006,000,000

1,321,709,000,000

Liabilities

483,507,000,000

578,849,000,000

1,111,249,000,000

Current liabilities

483,507,000,000

578,849,000,000

1,111,249,000,000

Short term borrowings

443,595,000,000

387,644,000,000

913,661,000,000

Accounts payables-trade

20,297,000,000

152,931,000,000

118,492,000,000

Advances from customers

206,000,000

4,729,000,000

2,465,000,000

Taxes and payable to state budget

1,250,000,000

1,413,000,000

2,397,000,000

Payable to employees

5,372,000,000

25,635,000,000

67,186,000,000

Accrued expenses payable

1,915,000,000

280,000,000

741,000,000

Other payables

5,867,000,000

5,720,000,000

6,095,000,000

Bonus and welfare funds

5,005,000,000

497,000,000

212,000,000

i. Owner's equity

230,237,000,000

238,157,000,000

210,460,000,000

ii. Owner's equity

230,237,000,000

238,157,000,000

210,460,000,000

Business capital

77,500,000,000

77,500,000,000

77,500,000,000

Share capital's surplus

107,650,000,000

107,650,000,000

109,774,000,000

Shares

(2,695,000,000)

(2,695,000,000)

(22,723,000,000)

Business development funds

19,354,000,000

20,848,000,000

22,912,000,000

Financial reserved funds

12,479,000,000

13,226,000,000

14,258,000,000

Retained earnings

15,949,000,000

21,628,000,000

8,739,000,000

Total resources

713,744,000,000

817,006,000,000

1,321,709,000,000

Note: (*)

Financial Highlights

 

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Turnover(*)

2,234,856,000,000

3,421,552,000,000

5,390,717,000,000

Profit (Loss) Before Tax(*)

15,489,000,000

22,195,000,000

30,278,000,000

Profit After Tax attributable to Shareholders(*)

14,939,000,000

20,635,000,000

28,245,000,000

 

Gross sales

2,234,856,000,000

3,421,552,000,000

5,390,717,000,000

Less deductions

39,610,000,000

18,258,000,000

1,048,000,000

Net income

2,195,246,000,000

3,403,294,000,000

5,389,669,000,000

Cost of goods sold

2,070,114,000,000

3,234,389,000,000

5,181,518,000,000

Gross margin

125,132,000,000

168,905,000,000

208,151,000,000

Income from financial activities

18,152,000,000

7,650,000,000

89,496,000,000

Expenses from financial activities

29,485,000,000

17,854,000,000

48,783,000,000

In which: Interest expenses

24,686,000,000

12,265,000,000

19,377,000,000

Selling expenses

84,015,000,000

112,417,000,000

190,232,000,000

General & administration expenses

14,935,000,000

24,635,000,000

27,848,000,000

Net income from operating activities

14,849,000,000

21,649,000,000

30,784,000,000

Extraordinary income

917,000,000

1,416,000,000

508,000,000

Extraordinary expenses

277,000,000

870,000,000

1,014,000,000

Extraordinary gains

640,000,000

546,000,000

(506,000,000)

Net profit before tax

15,489,000,000

22,195,000,000

30,278,000,000

Income tax

550,000,000

1,560,000,000

2,033,000,000

Net profit after tax

14,939,000,000

20,635,000,000

28,245,000,000

Note: (*)

Financial Highlights

 

 

Financial Ratios

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Growth % 

Year-on-Year Growth

7.01

53.10

57.55

Profitability 

Profit Margin (%)

0.67

0.60

0.52

Return on Equity (%)

6.49

8.66

13.42

Return on Assets (%)

2.09

2.53

2.14

Leverage 

Total Debt Equity (Times)

2.10

2.43

5.28

Current Debt Equity (Times)

2.10

2.43

5.28

Total Asset To Total Equity

3.10

3.43

6.28

Asset Management 

Total Assets Turnover (Times)

3.13

4.19

4.08

Fixed Assets Turnover (Times)

13.93

23.23

43.99

Liquidity 

Current Ratio

1.14

1.16

1.08

Based on the corporate laws of Vietnam, legal entities which are a 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

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

SOC TRANG SEAFOOD JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Food Products

Office Contact Details

Operating Address

:

220 National Rd 1A Ward 7, Soc Trang, Soc Trang

Tel

:

[+84] 79-3822367

 

:

[+84] 79-3822164

Fax

:

[+84] 79-3823620

 

:

[+84] 79-3821801

Email

:

stapimex@hcm.vnn.vn

Website Details

Website

:

http://www.stapimex.com.vn

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

:

2200108445

 

Primary Products

Products / Materials / Services Description

Activity

Canned fish

Manufacturing, Exporting

Cured fish

Manufacturing, Exporting

Processed seafoods

Manufacturing, Exporting

Shrimps, breaded

Manufacturing, Exporting

Sushi

Manufacturing, Exporting

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Business Svcs, NEC

7389

Service

Canned and cured fish and seafoods

2091

Manufacturing, Exporting

Fish & Seafoods

5146

Trading

Food and Kindred Products

2000

Manufacturing, Exporting

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Business services, health, financial/insur. legal/real estate, hotels, and misc repairs

9900

Service

Fish & crustaceans

0300

Trading

Food preparations

2106

Manufacturing, Exporting

Shrimps and prawns, breaded, frozen

1605201020

Manufacturing, Exporting

Shrimps and prawns, prepared nesoi, frozen

1605201030

Manufacturing, Exporting

Shrimps and prawns, prepared or preserved

1605201050

Manufacturing, Exporting

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Seafood processing

Secondary

Service

Shrimp

Secondary

Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of SOC TRANG SEAFOOD JSC is Manufacturing - Finished products.

Key products include :

Canned fish

Cured fish

Processed seafoods

Shrimps, breaded

Sushi


An integral part of the core business includes:

Distribution

 

Supplementary Business

In addition to the core business, SOC TRANG SEAFOOD JSC also is engaged in the following areas of business:

Exporting

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

Exporting - Finished products

Importing

Importing - Raw materials

Trading

Trading - General products

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

International Sales (Export)

80%

Domestic Sales

20%

Annual Purchases Analysis

Percentage

Local Purchases

70%

Imports

30%

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

SOC TRANG

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - SOC TRANG, SOC TRANG

SWIFT Code

:

ICBVVNVX

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

SOC TRANG SEAFOOD JSC - DUYEN HAI DIST, TRA VINH

Branch Address

:

Phuoc Tri Hamlet Long Toan Commune, Duyen Hai Dist, Tra Vinh

 

Branch

:

SOC TRANG SEAFOOD JSC - SOC TRANG, SOC TRANG

Branch Address

:

101 Nguyen Chi Thanh St Ward 6, Soc Trang, Soc Trang

 

Branch

:

SOC TRANG SEAFOOD JSC - MY TU DIST, SOC TRANG

Branch Address

:

An Hiep Industrial Zone Lot N2, My Tu Dist, Soc Trang

 

INTERNATIONAL TRADE - Statistics (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2010

n/a

80,930,272

80,930,272

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

Europe

Medium

Exporting

North America

Medium

Exporting

Canada

Medium

Exporting

Japan

Medium

Exporting

USA

Medium

Exporting

 

OFFICE & FACILITIES

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

Name

:

SOC TRANG SEAFOOD JSC - SOC TRANG, SOC TRANG

Primary Use

:

Office & Administration facilities

Address

:

220 National Rd 1A Ward 7, Soc Trang, Soc Trang

Country

:

Vietnam

Status

:

Operational

 

COMPANY HISTORY

Date

Details

2006 - May

Changed its legal form category from Government-owned Enterprise to Joint Stock Company.

 

QUALITY ACCREDITATION

Quality Accreditation Listings

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2000

 

 

NOTES & COMMENTS

 

N/A

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.92

UK Pound

1

Rs.101.44

Euro

1

Rs.72.26

 

 

 

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

 

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.