MIRA INFORM REPORT

 

 

Report No. :

351952

Report Date :

04.12.2015

 

IDENTIFICATION DETAILS

 

Name :

CENTURY SYNTHETIC FIBER CORP

 

 

Registered Office :

Quarter B1-1 Tay Bac Cu Chi Industrial Park Ward 6, Cu Chi, Ho Chi Minh

 

 

Country :

Vietnam

 

 

Financials (as on) :

2015

 

 

Date of Incorporation :

08.10.2010

 

 

Legal Form :

Public Listed Company

 

 

Line of Business :

Manufacturer of textiles & raw material

 

 

No. of Employee :

1,000

 

 

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

:

CENTURY SYNTHETIC FIBER CORP

Name in Local Language

:

CÔNG TY CỔ PHẦN SỢI THẾ KỶ

Address

:

Quarter B1-1 Tay Bac Cu Chi Industrial Park Ward 6,

Cu Chi, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-37907565

Facsimile

:

[+84] 8-37907566

Email

:

century@hcm.vnn.vn

Website

:

http://www.theky.vn

Primary Business Activity

:

Manufacturer

Key Industry

:

Textiles & Raw Material

 

Registered Legal Address

:

Quarter B1-1 Tay Bac Cu Chi Industrial Park Ward 6, Cu Chi, Ho Chi Minh

Operational Address

:

Quarter B1-1 Tay Bac Cu Chi Industrial Park Ward 6, Cu Chi, Ho Chi Minh

Trading Name / DBA

:

CENTURY CORP

Name History

:

Business Entity Name

Effective Date

CENTURY MANUFACTURING & TRADING CO LTD

1 Jun, 2000

CENTURY SYNTHETIC FIBER CORP

11 Apr, 2005

License Status

:

License exists - Normal.

Issuing Authority

:

Dept. of Planning & Investment - Ho Chi Minh

License Number

:

0302018927

Legal Form - Category

:

Public Listed Company

Legal Form

:

Corporation

Legal Form - Abbreviation

:

CORP

Operational Status of Business

:

Normal

Date of Registration

:

8 Oct, 2010

Employees

:

1,000

Capital

:

US$ 21,190,217

PREVIOUS BUSINESS LICENSE/S

:

License Date

License No.

1 Jun, 2000

4102001242

11 Apr, 2005

4103003288

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Hoa Trieu Dang

Nationality

:

Vietnamese

 

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Phan Nhu Bich

Vietnamese

Chief Accountant

-

2

Mr. Hoa Trieu Dang

Vietnamese

Managing Director

-

3

Mr. Hu-and Weiling

Chinese

Deputy Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI03377375

Name

:

Ms. Phan Nhu Bich

Date of Birth

:

1970

 

Management Details - 2

Personal Unique Identifier

:

MI03377369

Name

:

Mr. Hoa Trieu Dang

Date of Birth

:

1969

 

Management Details - 3

Personal Unique Identifier

:

MI03377372

Name

:

Mr. Hu-and Weiling

Date of Birth

:

1976

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03928259

Name

:

Mdm. Anh Thi Que Cao

 

2

 

 

Personal Unique Identifier

:

MI03928256

Name

:

Mdm. Linh My Dang

 

3

 

 

Personal Unique Identifier

:

MI03928260

Name

:

Mr. Chi Tuan Thai

 

4

 

 

Personal Unique Identifier

:

MI03928255

Name

:

Mr. Cuong Huong Dang

 

5

 

 

Personal Unique Identifier

:

MI03377369

Name

:

Mr. Hoa Trieu Dang

Date of Birth

:

1969

 

6

 

 

Personal Unique Identifier

:

MI03928261

Name

:

Mr. Kuan Chien Lee

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing CENTURY SYNTHETIC FIBER CORP'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

:

₫ 465,358,350,000

Paid-up Capital

:

₫ 423,053,360,000

 

Date

Authorized Capital - History

1 Jun, 2000

112,000,000,000

11 Apr, 2005

201,000,000,000

2014

423,053,360,000

2015

465,358,350,000

 

Date

Paid-up Capital - History

2011

229,888,000,000

2012

274,915,000,000

2013

315,426,840,000

2014

423,053,360,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

Public shareholding traded via Stock Exchange

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Public shareholding traded via Stock Exchange

n/a

n/a

178,824,655,272

42.27

2

HUONG VIET INVESTMENT CONSULTANT JSC

Vietnam

n/a

79,280,199,664

18.74

3

Mr. Hoa Trieu Dang

Vietnam

n/a

58,804,417,040

13.90

4

Mdm. Linh My Dang

Vietnam

n/a

36,086,451,608

8.53

5

Mr. Cuong Huong Dang

Vietnam

n/a

36,086,451,608

8.53

6

VIETNAM HOLDING LTD

Vietnam

n/a

33,971,184,808

8.03

Total

n/a

423,053,360,000

100.00

 

 

PAYMENT INFORMATION

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

30%

International Sales (Export)

70%

 

Annual Purchases Analysis

Percentage

Local Purchases

10%

Imports

90%

 

 

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

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

CENTURY SYNTHETIC FIBER CORP - TAY NINH

Branch Address

:

Trang Bang Industry Park Rd 8 An Tinh Ward, Tay Ninh

Branch Tel

:

84-66-3887565

 

Branch

:

CENTURY SYNTHETIC FIBER CORP - TAN BINH DIST, HO CHI MINH

Branch Address

:

102-104-106 Ben Cat Ward 14, Tan Binh Dist, Ho Chi Minh

Branch Fax

:

84-8-37907566

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2013 Annual  

68,970,323

48,627,976

3,528,079

2014 Annual  

68,953,679

58,880,827

5,018,398

2015 2nd Qtr  

28,705,063

73,682,030

2,485,579

 

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2011 Annual

44,924,772

41,986,606

3,960,106

2012 Annual

52,788,713

48,816,115

4,015,384

 

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2013 Annual

2014 Annual

2015 2nd Qtr

Current Assets(*)

404,294,358,625

463,417,444,832

396,120,315,156

Non Current Assets(*)

621,176,784,110

781,535,198,363

1,222,010,740,045

Non Current Liabilities(*)

216,360,230,799

362,602,443,479

659,345,135,840

Share Capital(*)

315,426,840,000

423,053,360,000

423,053,360,000

Other long term assets 

Total Assets(*)

1,025,471,142,735

1,244,952,643,195

1,618,131,055,201

Total Liabilities(*)

522,407,728,355

570,136,332,123

944,846,510,514

Current Liabilities(*)

306,047,497,556

207,533,888,644

285,501,374,674

Long term liabilities 

Shareholders Funds(*)

503,063,414,380

-

673,284,544,687

 

Current assets & short term investments

404,294,358,625

463,417,444,832

396,120,315,156

Cash & cash equivalents

75,562,455,154

148,164,520,136

61,160,314,529

Cash

19,562,455,154

20,299,520,136

19,660,314,529

Cash equivalents

56,000,000,000

127,865,000,000

41,500,000,000

Accounts receivable

102,610,110,331

111,723,137,946

73,450,072,603

Accounts receivable trade

94,102,791,586

49,526,060,005

62,369,296,255

Trade prepayment

6,497,190,493

60,711,348,389

10,447,142,639

Others receivables

2,010,128,252

1,485,729,552

633,633,709

I. Inventories

210,311,803,168

183,506,950,504

221,200,878,920

II. Inventories

210,311,803,168

184,045,418,879

221,984,357,697

Provision for decline in inventory

-

(538,468,375)

(783,478,777)

I. Other short term asset

15,809,989,972

20,023,836,246

40,309,049,104

Prepaid expenses

1,635,144,357

6,213,378,919

3,668,732,483

VAT deductible

9,476,242,004

13,526,399,862

36,276,689,496

Other tax receivables

415,017,074

-

-

II. Other short term asset

4,283,586,537

284,057,465

363,627,125

Long term assets

621,176,784,110

781,535,198,363

1,222,010,740,045

Accounts of long term receivable

500,000,000

-

-

Accounts long term receivable trade

500,000,000

-

-

Fixed assets

577,642,203,873

744,113,484,659

1,174,378,601,270

Tangible fixed assets

480,236,428,350

492,328,571,397

453,650,450,338

I. Cost

748,498,005,938

874,191,340,581

874,640,556,581

I. Accumulated depreciation

268,261,577,588

(381,862,769,184)

(420,990,106,243)

Finance lease assets

86,668,534,591

-

-

II. Cost

122,355,578,248

-

-

II. Accumulated depreciation

(35,687,043,657)

-

-

Intangible fixed assets

8,965,479,674

6,466,047,720

5,093,886,080

III. Cost

13,594,039,674

13,834,916,387

13,834,916,387

III. Accumulated depreciation

(4,628,560,000)

(7,368,868,667)

(8,741,030,307)

Construction in progress

1,771,761,258

245,318,865,542

715,634,264,852

Other long term investments

-

-

7,468,652,342

Provision for long term investments

-

-

7,468,652,342

I. Other long term assets

43,034,580,237

37,421,713,704

40,163,486,433

Long term prepayments

36,717,669,411

35,522,710,260

37,036,669,603

Asset of income tax delay

1,057,910,826

1,899,003,444

3,126,816,830

II. Other long term assets

5,259,000,000

-

-

Total assets

1,025,471,142,735

1,244,952,643,195

1,618,131,055,201

Liabilities

522,407,728,355

570,136,332,123

944,846,510,514

Current liabilities

306,047,497,556

207,533,888,644

285,501,374,674

Short term borrowings

71,091,246,144

25,927,315,002

95,814,061,777

Accounts payables-trade

202,035,732,451

143,401,284,862

143,098,715,619

Advances from customers

5,310,643,377

6,993,191,400

11,251,715,531

Taxes and payable to state budget

13,102,356,638

7,954,297,693

14,127,420,371

Payable to employees

4,414,071,427

10,845,779,461

7,734,124,683

Accrued expenses payable

4,966,056,295

7,013,230,059

8,149,984,136

Other payables

2,458,721,302

3,477,398,912

2,772,772,702

Bonus and welfare funds

2,668,669,922

1,921,391,255

2,552,579,855

Long term liabilities

216,360,230,799

362,601,443,479

659,345,135,840

Accounts long term payables-trade

-

155,183,680,160

-

Long term other payables

353,326,959

311,921,959

368,452,750

Long term borrowings

216,006,903,840

207,105,841,360

658,976,683,090

Owner's equity

503,063,414,380

674,817,311,072

673,284,544,687

Business capital

315,426,840,000

423,053,360,000

423,053,360,000

Share capital's surplus

-

40,026,904,470

35,539,435,379

Shares

(11,826,900,000)

(11,826,900,000)

-

Financial reserved funds

1,219,011,000

1,219,011,000

1,219,011,000

Retained earnings

198,245,463,380

222,344,935,602

213,472,738,308

Total resources

1,025,471,142,735

1,244,952,643,195

1,618,131,055,201

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2013 Annual

2014 Annual

2015 2nd Qtr

Turnover(*)

1,454,452,384,377

1,457,929,000,000

630,391,883,876

Profit (Loss) Before Tax(*)

95,240,618,641

136,164,241,765

70,496,785,892

Profit After Tax attributable to Shareholders(*)

74,400,437,644

106,107,000,000

54,585,806,706

 

Gross sales

1,454,452,384,377

1,457,929,229,273

630,391,883,876

Less deductions

(1,405,012,430)

(412,068,800)

(46,481,853)

Net income

1,453,047,371,947

1,457,517,160,473

630,345,402,023

Cost of goods sold

(1,275,819,719,271)

(1,244,748,364,250)

(514,160,448,143)

Gross margin

177,227,652,676

212,768,796,223

116,184,953,880

Income from financial activities

7,090,533,409

2,125,649,412

7,928,187,380

Expenses from financial activities

(21,065,807,619)

(12,542,188,393)

(20,407,123,860)

In which: Interest expenses

(13,858,879,159)

(7,583,538,770)

(2,501,958,765)

Selling expenses

(34,306,328,995)

(31,645,142,564)

(14,764,764,130)

General & administration expenses

(33,520,287,799)

(35,290,327,400)

(18,816,378,407)

Net income from operating activities

95,425,761,672

135,416,787,278

70,124,874,863

Extraordinary income

471,455,166

844,878,635

440,134,484

Extraordinary expenses

(656,598,197)

(97,424,148)

(68,223,455)

Extraordinary gains

(185,143,031)

747,454,487

371,911,029

Net profit before tax

95,240,618,641

136,164,241,765

70,496,785,892

Income tax

(21,031,287,129)

(30,898,342,161)

(17,138,792,572)

Income tax delay

191,106,132

841,092,618

1,227,813,386

Net profit after tax

74,400,437,644

106,106,992,222

54,585,806,706

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2013 Annual

2014 Annual

2015 2nd Qtr

Growth % 

Year-on-Year Growth

32.31

0.24

-

Profitability 

Profit Margin (%)

5.12

7.28

8.66

Return on Equity (%)

14.79

-

8.11

Return on Assets (%)

7.26

8.52

3.37

Leverage 

Total Debt Equity (Times)

1.04

-

1.40

Current Debt Equity (Times)

0.61

-

0.42

Long Term Debt to Equity

0.43

-

0.98

Total Asset To Total Equity

2.04

-

2.40

Asset Management 

Total Assets Turnover (Times)

1.42

1.17

0.39

Fixed Assets Turnover (Times)

2.34

1.87

0.52

Liquidity 

Current Ratio

1.32

2.23

1.39

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000046 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Country

:

Vietnam

Business Entity Name

:

CENTURY SYNTHETIC FIBER CORP

Primary Business Activity

:

Manufacturer

Primary Industry

:

Textiles & Raw Material

 

Office Contact Details

Operating Address

:

Quarter B1-1 Tay Bac Cu Chi Industrial Park Ward 6, Cu Chi, Ho Chi Minh

Tel

:

[+84] 8-37907565

Fax

:

[+84] 8-37907566

Email

:

century@hcm.vnn.vn
csf@century.vn

 

Website Details

Website

:

http://www.theky.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

 

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

:

0302018927

Date of Issuance

:

27 Jun, 2000

 

Primary Products

Products / Materials / Services Description

Activity

Cotton fiber

Manufacturing, Exporting

Fully drawn yarns (FDY)

Manufacturing, Exporting

Partially oriented yarns

Manufacturing, Exporting

Polyester filament yarns

Manufacturing, Exporting

Recycled polyester fibers

Manufacturing, Exporting

 

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

Year

Imports

Exports

Total

2012

n/a

36,952,099

36,952,099

2013

n/a

48,279,226

48,279,226

2014

n/a

48,267,575

48,267,575

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Yarn, spun, of cotton, man-made fibers, and silk

2281

Manufacturing, Exporting

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Cotton, carded or combed, fibers of cotton processed, but not spun: other.

5203003000

Manufacturing, Exporting

 

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of CENTURY SYNTHETIC FIBER CORP is Manufacturing - Finished products.

Key products include :

Cotton fiber

Fully drawn yarns (FDY)

Partially oriented yarns

Polyester filament yarns

Recycled polyester fibers


An integral part of the core business includes:

Distribution

 

Supplementary Business

In addition to the core business, CENTURY SYNTHETIC FIBER CORP also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

 

 

STOCK EXCHANGE LISTING DETAILS

Country

:

Vietnam

Name of Stock Exchange

:

Name

Acronym

HOCHIMINH STOCK EXCHANGE

HOSE

Stock Symbol / No.

:

STK

Date of listing

:

9 Oct, 2015

 

 

BANK DETAILS

Bank Name

:

DONG A COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P1007587

Branch

:

Phu Nhuan,Ho Chi Minh

Branch Address

:

130 Phan Dang Luu St Ward 3 Phu Nhuan Ho Chi Minh (Head Office)

SWIFT Code

:

EACBVNVX

 

Bank Name

:

HSBC BANK (VIETNAM) LTD

Global Identifier

:

32403760

Branch

:

District 1,Ho Chi Minh

Branch Address

:

Metropolitan 235 Dong Khoi Ben Nghe Ward District 1 Ho Chi Minh (Head Office)

SWIFT Code

:

HSBCVNVX

 

Bank Name

:

VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK

Global Identifier

:

32408823

Branch

:

District 1,Ho Chi Minh

Branch Address

:

8Fl Vincom Center Bldg 72 Le Thanh Ton St Ben Nghe Ward District 1 Ho Chi Minh (Head Office)

SWIFT Code

:

EBVIVNVX

 

 

INTERNATIONAL TRADE

 

 Statistics (Currency: USD - US Dollar)

Year

Imports

Exports

Total

2011

n/a

31,447,340

31,447,340

 

 

INTERNATIONAL TRADE

 

Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

Middle-East

Medium

Exporting

China

Medium

Importing

Pakistan

Medium

Exporting

Thailand

Medium

Importing, Exporting

Turkey

Medium

Exporting

 

 

OFFICE & FACILITIES

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

Name

:

CENTURY SYNTHETIC FIBER CORP - CU CHI, HO CHI MINH

Primary Use

:

Office & Administration facilities

Building Size

:

16,800 Square meters

Address

:

Quarter B1-1 Tay Bac Cu Chi Industrial Park Ward 6, Cu Chi, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

 

COMPANY HISTORY

Date

Details

2005 - Apr

Changed legal form from Limited Liability Company to Joint Stock Company.

 

 

AWARDS

 

#

Award Name

Awarded by

Awarded Date

1

Excellent Performance

HCMC PEOPLE'S COMMITTEE

2009

2

Vietnam Trade Service Award

MINISTRY OF TRADE AND INDUSTRY

2009

3

Outstanding achievements in social insurance and health insurance

HCMC DEPARTMENT OF LABOR, INVALIDS AND SOCIAL AFFAIRS

2010

4

Outstanding achievements in attracting investment, development of industrial zones and contributing

VIETNAM PRIME MINISTER

2011

 

 

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.66.75

UK Pound

1

Rs.99.61

Euro

1

Rs.70.67

VND

1

Rs. 0.0030

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

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.