MIRA INFORM REPORT

 

 

Report No. :

337849

Report Date :

24.08.2015

 

IDENTIFICATION DETAILS

 

Name :

JA - RI  SYSTEMS  NV 

 

 

Registered Office :

Bavikhoofsestraat  1-C, 8531 Harelbeke

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

23.10.1992

 

 

Com. Reg. No.:

448515132

 

 

Legal Form :

Public  Limited  Liability

 

 

Line of Business :

Subject is engaged in manufacture  of  power-driven hand  tools

 

 

No. of Employee :

9

 

 

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 shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

Company name

 

JA - RI  SYSTEMS  NV 

 

 

Company  summary

 

 

Business  number

448515132

Branche  Unit  Number

2059470940

Company  name

JA  -  RI  SYSTEMS  NV

Address

BAVIKHOOFSESTRAAT  1-C

 

8531 HARELBEKE

Number  of  staff

9

Date  of  establishment

23/10/1992

Telephone  number

056723152

Fax  number

056723154

 

Ultimate  holding  company

 

 

Company  name

Company  Number

-

-

 

 

Commentary

 

The  business  was  established  over  22  years  ago. The  business  has  9  employees.

The  business  has  been  at  the  address  for  over  10  years. Pre-tax  profits  decreased  by  24%  compared  to  the  previous  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

 

866,467

5,015,252

6,969,101

31/12/2012

 

1,151,225

4,731,279

6,021,064

31/12/2011

 

1,158,195

3,940,774

5,327,553

Accounts

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

8,870,624

9

3,524,524

738,483

31/12/2012

7,468,769

9

644,524

935,610

31/12/2011

6,533,297

9

644,524

941,246

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

-

Industry  average  payment

103.91

Industry  average  day  sales

152.96

expectation  days

 

outstanding

 

Day  sales  outstanding

-

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

PROTESTED  BILLS

Bill  amount

-

NSSO  DETAILS

Date  of  summons

-

 

 

Company  information

 

Business  number

448515132

Company  name

JA  -  RI  SYSTEMS  NV

Fax  number

056723154

Date  founded

23/10/1992

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2013

Activity  code

28240

Liable  for  VAT

yes

Activity  description

Manufacture  of  power-driven

VAT  Number

BE.0448.515.132  Check  VAT

 

hand  tools

 

number

Belgian  Bullettin  of  Acts

Publications

moniteur  belge

 

 

 

 

Contractor  details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

Personnel  (NSSO  classification)

 

Code

-

Description

-

Joint  Industrial  Committee  (JIC)

 

JIC  Code

149.04

Description

Joint  subcommittee  for  the  trade  in  metals

category

 

JIC  Code

218

Description

Additional  national  joint  committee  for  the  employees

category

 

Significant  Events

 

Event  Date

30/10/2010

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar  30-10-2010:  Herbenoeming  als  bestuurders  voor  een  termijn  van  6  jaar:  Berton  Paul,

 

Berton  Benny  (tevens  gedelegeerd  bestuurder)  en  Berton  Franky  (tevens  gedelegeerd  bestuurder).

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

 

 

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

426,231

-11.34

480,731

-14.76

563,941

-0.58

567,208

-11.60

641,609

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

426,231

-11.34

480,731

-14.76

563,941

-0.58

567,208

-11.60

641,609

Land  &  building

214,372

-14.28

250,084

-12.00

284,193

-11.62

321,547

-9.77

356,380

Plant  &  machinery

83,985

-17.81

102,178

13.38

90,121

-17.41

109,115

-30.82

157,730

Furniture  &  Vehicles

127,874

-0.46

128,468

-32.25

189,627

38.87

136,547

7.10

127,499

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-100

1

-

0

-

0

-

0

Financial  fixed  assets

-

-

-

-

-

-

-

-

-

Total  current  assets

8,444,393

20.84

6,988,038

17.07

5,969,356

15.39

5,173,114

13.88

4,542,505

Inventories

3,346,217

-1.38

3,392,967

-0.98

3,426,404

5.68

3,242,200

-6.99

3,485,700

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

3,346,217

-1.38

3,392,967

-0.98

3,426,404

5.68

3,242,200

-6.99

3,485,700

Trade  debtors

734,937

-10.48

820,989

-14.81

963,686

22.67

785,587

4.93

748,659

Other  amounts  receivable

3,405,891

276

904,591

49.40

605,479

1.18

598,435

2338

24,545

Cash

957,348

-18.14

1,169,491

20.10

973,787

78.06

546,892

92.84

283,600

Miscellaneous  current  assets

0

-100

700,000

-

0

-

0

-

0

Total  Assets

8,870,624

18.77

7,468,769

14.32

6,533,297

13.81

5,740,322

10.73

5,184,114

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

5,015,252

6.00

4,731,279

20.06

3,940,774

25.15

3,148,855

21.52

2,591,274

Issued  share  capital

3,524,524

446

644,524

0.00

644,524

0

644,524

0

644,524

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

1,490,728

-63.52

4,086,755

23.98

3,296,250

31.62

2,504,331

28.64

1,946,750

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

3,855,372

40.84

2,737,490

5.59

2,592,523

0.04

2,591,467

-0.05

2,592,840

Other  long  term  loans

2,380,080

34.43

1,770,516

-9.24

1,950,720

3.98

1,875,990

-13.07

2,158,157

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

2,380,080

34.43

1,770,516

-9.24

1,950,720

3.98

1,875,990

-13.07

2,158,157

Current  portion  of  long  term  debt

546,771

-

-

-

-

-

-

-

-

Financial  debts

-

-

-

-

-

-

-

-

-

Trade  creditors

440,189

-44.83

797,889

84.01

433,615

-20.63

546,308

56.75

348,522

Amounts  Payable  for  Taxes,

488,332

188

169,085

-18.78

208,188

28.24

162,345

89.39

85,718

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

0

-

0

-

0

-100

6,824

1440

443

Total  current  liabilities

1,475,292

52.57

966,974

50.67

641,803

-10.30

715,477

64.60

434,682

Total  Liabilities

8,870,624

18.77

7,468,769

14.32

6,533,297

13.81

5,740,322

10.73

5,184,114

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

-

-

-

-

-

-

-

-

-

Return  on  capital  employed

11.72

-33.82

17.71

-9.92

19.66

23.65

15.90

59.96

9.94

Return  on  total  assets  employed

9.77

-36.60

15.41

-13.09

17.73

27.37

13.92

52.80

9.11

Return  on  net  assets  employed

17.28

-28.98

24.33

-17.22

29.39

15.80

25.38

39.30

18.22

Sales  /  net  working  capital

-

-

-

-

-

-

-

-

-

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

-

-

-

-

-

-

-

-

-

Debtor  days

-

-

-

-

-

-

-

-

-

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

5.72

-20.89

7.23

-22.26

9.30

28.63

7.23

-30.81

10.45

Liquidity  ratio  /  acid  ratio

3.46

-6.99

3.72

-6.06

3.96

46.67

2.70

11.11

2.43

Current  debt  ratio

0.29

45.00

0.20

25.00

0.16

-30.43

0.23

35.29

0.17

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

738,483

-21.07

935,610

-0.60

941,246

33.07

707,346

44.18

490,606

Net  worth

5,015,252

6.00

4,731,279

20.06

3,940,774

25.15

3,148,855

21.52

2,591,274

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

58.36

55.96

37.42

-24.40

49.50

-16.92

59.58

-28.47

83.29

Equity  in  percentage

56.54

-10.75

63.35

5.02

60.32

9.95

54.86

9.76

49.98

Total  debt  ratio

0.77

32.76

0.58

-12.12

0.66

-19.51

0.82

-18.00

1.00

Working  capital

6,969,101

15.75

6,021,064

13.02

5,327,553

19.52

4,457,637

8.52

4,107,822

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

-

-

-

-

-

-

-

-

-

Turnover

-

-

-

-

-

-

-

-

-

Total  operating  expenses

-

-

-

-

-

-

-

-

-

Gross  Operating  Margin

 

-10.93

1,623,396

-18.15

1,983,485

44.30

1,374,602

23.33

1,114,583

Operating  Charges

-

-

-

-

-

-

-

-

-

Employee  costs

 

-2.15

479,580

2.84

466,340

6.81

436,591

16.44

374,957

Wages  and  salary

 

34.16

341,600

4.18

327,908

6.38

308,239

29.29

238,413

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

-

-

133,594

6.21

125,778

9.24

115,134

-14.38

134,478

Other  employee  costs

 

150

4,385

-65.35

12,654

-4.26

13,217

539

2,066

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

 

-7.30

145,105

-2.83

149,328

-0.29

149,765

1.84

147,066

Operating  result

 

-17.02

978,379

-24.78

1,300,700

70.58

762,506

33.75

570,107

Total  financial  income

 

-21.11

261,694

176

94,499

-24.89

125,818

2092

5,740

Total  financial  expenses

 

70.95

88,848

-62.51

237,004

165

89,290

-13.99

103,813

Results  on  ordinary  operations  before

866,467

-24.74

1,151,225

-0.60

1,158,195

44.95

799,034

69.28

472,033

taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

17,994

-

-

-

-

-

5,100

516

827

Extraordinary  Charges

-

-

-

-

3,161

-

-

-

-

Extraordinary  items

17,994

-

0

0

-3,161

-161

5,100

516

827

Results  for  the  Year  Before  Taxation

884,461

-23.17

1,151,225

-0.33

1,155,034

43.64

804,134

70.06

472,860

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

280,488

-22.24

360,720

-0.66

363,116

47.28

246,553

90.65

129,319

Results  on  ordinary  operations  after

taxation

585,979

-25.87

790,505

-0.58

795,079

43.91

552,481

61.21

342,714

Net  result

603,973

-23.60

790,505

-0.18

791,919

42.03

557,581

62.30

343,541

Profit  (Loss)  for  the  Year  to  be appropiated

603,973

-23.60

790,505

-0.18

791,919

42.03

557,581

62.30

343,541

Dividends

3,200,000

-

-

-

-

-

-

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

 

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2013

 

 

 

Full-time  Employees

 

7

 

Part-time  Employees

 

3

 

Total  Fte  Employees

 

9

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

12,527

 

Part-time  Employees

 

3,784

 

Total

 

16,311

 

Personnel  Charges

 

 

 

Full-time  Employees

 

344,281

 

Part-time  Employees

 

124,988

 

Total

 

469,269

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

10

 

Actual  working  hours

 

16,828

 

Personnel  Charges

 

479,580

 

Benefits  In  Addition  To  Wages

 

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

7

 

9

Contracts

 

 

 

Limited  Duration  Contracts

-

 

-

Contracts  For  Specific  Work

-

 

-

Contracts  Regarding Substitution

-

 

-

Gender  and  Education Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

7

-

7

Higher  education  (non

-

1

1

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

1

1

Higher  education  (non

-

1

1

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

1

3

3

Blue  collar  worker

6

-

6

Other

-

-

-

Temporary  personnel

 

Total

 

Average  number  of  temporary  staff

 

-

 

Actual  working  hours

 

-

 

Cost  of  temporary  staff

 

-

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

6

-

6

Leavers

6

-

6

 

 

Total  of  formal  continuing  vocational  training  initiatives

 

 

for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  less  formal  and  informal  continuing  vocational

 

 

training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  initial  training  initiatives  at  the  expense  of  the

 

 

employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

Industry  comparison

 

 

Activity  code

28240

 

Activity  description

Manufacture  of  power-driven  hand  tools

 

 

 

Payment  Information

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

Details

-

Payment  Information  Summary

 

Total  number  of  Invoices  available

5

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

4

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

1

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

0

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

 

Payment  expectations

 

Payment  expectation  days

-

Day  sales  outstanding

-

Industry  comparison

 

Activity  code

28240

Activity  description

Manufacture  of  power-driven  hand  tools

Industry  average  payment

103.91

expectation  days

 

Industry  average  day  sales

152.96

outstanding

 

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

-

Lower

121.95

Median

66.72

Upper

37.31

 

 

Day  sales  outstanding

 

Company  result

-

Lower

87.01

Median

43.57

Upper

20.45

 

 

Shareholder  Details

 

Summary

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

Group  Structure

 

No  group  structure  for  this  company.

 

Minority  Shareholders

 

No  minority  shareholders  found

 

Minority  Interests

 

No  minority  interests  found

 

Individual  Shareholders

 

 

SHAREHOLDER  NAME

 

Forename

Benny

Middle  name

-

Surname

Berton

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

31/03/1999

End  date

-

Percentage  owned

48.16%

 

 

SHAREHOLDER  ADDRESS

 

 

 

Street  name

Deken  De  Bostraat

House  number

56

Minor  town

Beveren

Postal  town

Waregem

Post  code

8791

Country

Belgium

SHAREHOLDER  NAME

 

 

 

Forename

Franky

Middle  name

-

Surname

Berton

 

 

SHAREHOLDER  DETAILS

 

 

 

Start  date

31/03/1999

End  date

-

Percentage  owned

48.16%

 

 

 

 

SHAREHOLDER  ADDRESS

 

Street  name

Oostrozebeeksestraat

House  number

1

Minor  town

Hulste

Postal  town

Harelbeke

Post  code

8531

Country

Belgium

 

Companies  that  match  this  address

 

no  Companies  Match  this  address

 

 

Linked  Companies

 

Summary

 

Group  -  Number  of  Companies

0

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

Summons

 

there  is  no  data  for  this  company

 

Protested  Bills

 

there  is  no  data  for  this  company

 

Bankruptcy  and  other  legal  events

 

there  is  no  data  for  this  company

 

 

Director  details

 

Current  director  details

 

Position

Chairman  of  the  Board

Start  Date

30/10/2010

Date  of  birth

04/06/1942

Street

13 OOSTROZEBEEKSESTRAAT  HARELBEKE

Post  code

8531

Country

Belgium

Name

PAUL  BERTON

Position

Director

Start  Date

19/10/2004

Date  of  birth

04/06/1942

Street

13 OOSTROZEBEEKSESTRAAT  HARELBEKE

Post  code

8531

Country

Belgium

Name

BENNY  DHR  BERTON

Position

Managing  Director

Start  Date

30/10/2010

End  Date

30/10/2016

Street

13 OOSTROZEBEKESTRAAT  HARELBEKE

Post  code

8531

Country

Belgium

Name

BENNY  BERTON

Position

Director

Start  Date

25/11/2010

Date  of  birth

17/08/1971

Street

56 DEKEN  DE  BOSTRAAT  WAREGEM

Post  code

8791

Country

Belgium

Name

FRANKY  BERTON

Position

Managing  Director

Start  Date

19/10/2004

Street

 

Post  code

 

Country

 

Position

Director

Start  Date

19/10/2004

Street

Post  code Country

 

Former  director  details

 

Name

BENNY  BERTON

Position

Managing  Director

Start  Date

19/10/2004

End  Date

31/12/2013

Date  of  birth

17/08/1971

Street

56 DEKEN  DE  BOSTRAAT  WAREGEM

Post  code

8791

Country

Belgium

Name

PAUL  DHR  BERTON

Position

Director

Start  Date

19/10/2004

End  Date

18/10/2010

Street

1 OOSTROZEBEKESTRAAT  HARELBEKE

Post  code

8531

Country

Belgium

Name

NANCY  GROENINCK

Position

Director

Start  Date

08/07/2010

End  Date

Unknown  date

Street

82 KERVIJNSTRAAT  HARELBEKE

Post  code

8531

Country

Belgium

Name

FRANKY  DHR  BERTON

Position

Managing  Director

Start  Date

19/10/2004

End  Date

Unknown  date

Street

82 KERVIJNSTRAAT  HARELBEKE

Post  code

8531

Country

Belgium

Name

FILIP  OSCAR  MICHEL  BERTON

Position

Managing  Director

Start  Date

04/06/1999

End  Date

Unknown  date

Date  of  birth

01/08/1967

Street

16 ROBERTS  JONESSTRAAT  BRUSSEL

Post  code

1180

Country

Belgium

Name

JEROOM  VERVINCKT

Position

Director

Start  Date

30/09/1997

End  Date

Unknown  date

Street

13 KOESTRAAT  EVERGEM

Post  code

9940

Country

Belgium

Name

FRANKY  BERTON

Position

Managing  Director

Start  Date

04/06/1999

End  Date

Unknown  date

Date  of  birth

04/06/1942

Street

1 OOSTROZEBEEKSESTRAAT  HARELBEKE

Post  code

8531

Country

Belgium

Position

Director

Start  Date

01/07/1993

End  Date

Unknown  date

Date  of  birth

04/06/1942

Street

1 OOSTROZEBEEKSESTRAAT  HARELBEKE

Post  code

8531

Country

Belgium

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.83

UK Pound

1

Rs.103.39

Euro

1

Rs.74.27

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

ASH

 

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.