|
Report No. : |
354087 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PETROCHEM PIPELINE SUPPLY LIMITED |
|
|
|
|
Formerly Known As : |
PETROLEUM & CHEMICAL ENGINEERING SUPPLIES LIMITED |
|
|
|
|
Registered Office : |
14 Euro Business Park, Little Island, Co Cork, 999937 |
|
|
|
|
Country : |
Ireland |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
26.05.1978 |
|
|
|
|
Legal Form : |
Private limited with Share Capital |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employee : |
44 |
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) |
|
Ireland |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
IRELAND - ECONOMIC OVERVIEW
Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity dropped sharply during the world financial crisis and the subsequent collapse of its domestic property market and construction industry. Faced with sharply reduced revenues and a burgeoning budget deficit from efforts to stabilize its fragile banking sector, the Irish Government introduced the first in a series of draconian budgets in 2009. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s banking sector and avoid defaulting on its sovereign debt. In March 2011, the KENNY government intensified austerity measures to meet the deficit targets under Ireland's EU-IMF bailout program. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt. In 2014, the economy rapidly picked up and GDP grew by 3.6%. The recovering economy assisted lowering the deficit to 4.2% of GDP. In late 2014, the government introduced a fiscally neutral budget, marking the end of the austerity program. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Ireland’s low corporation tax of 12.5% has been central to encouraging business investment. Loose tax residency requirements made Ireland a common destination for international firms seeking to avoid taxation. Amid growing international pressure the government announced it would phase in more stringent tax laws, effectively closing a loophole.
|
Source
: CIA |
PETROCHEM
PIPELINE SUPPLY LIMITED
14 EURO BUSINESS PARK, LITTLE ISLAND, CO CORK, 999937
|
Registered Address |
14 EURO BUSINESS PARK LITTLE ISLAND CO CORK 999937 |
Trading Address |
FIRST FLOOR FARRANLAE HOUSE FARRANLAE ROAD CORK |
|
Website Address |
- |
Eircode |
- |
|
Telephone Number |
|
Fax Number |
|
|
TPS |
No |
FPS |
Yes |
|
Incorporation Date |
26/05/1978 |
|
|
|
Previous Name |
PETROLEUM & CHEMICAL |
Type |
Private limited with Share Capital |
|
|
ENGINEERING SUPPLIES |
|
|
|
|
LIMITED |
|
|
|
|
|
FTSE Index |
- |
|
Date of Change |
- |
Filing Date of Accounts |
- |
|
Currency |
EUR |
Share Capital |
€4,444 |
|
SIC07 |
46690 |
Charity Number |
- |
|
SIC07 Description |
WHOLESALE OF OTHER MACHINERY AND
EQUIPMENT |
||
|
Principal Activity |
The supply of stainless steel
pipes, valves, fittings and process components
to the Irish Food and
Dairy, pharmaceutical and biotech markets. |
||
|
Year to Date |
Turnover |
Pre Tax Profit |
Shareholder |
Funds Employees |
|
31/12/2014 |
- |
€1,495,363 |
€8,929,765 |
44 |
|
31/12/2013 |
- |
€1,258,501 |
€7,625,937 |
43 |
|
31/12/2012 |
- |
€946,948 |
€6,528,911 |
44 |
|
Total Mortgage |
4 |
|
Outstanding |
4 |
|
Satisfied |
0 |
|
Total Number of
Documented Trade |
0 |
|
Total Value of
Documented Trade |
€0 |
No exact match CCJs are recorded
against the company.
A 22.1% growth in Total Assets
occurred during the latest trading period.
Pre-tax profits increased by 18.8% compared
to the previous trading period.
|
Total Number of
Exact CJs - |
0 |
Total Value of
Exact CJs - |
€0 |
|
Total Number of
Possible CJs - |
0 |
Total Value of
Possible CJs - |
€0 |
|
Total Number of
Satisfied CJs - |
0 |
Total Value of Satisfied
CJs - |
€0 |
|
Total Current Directors |
3 |
|
Total Current Secretaries |
1 |
|
Total Previous Directors / Company |
|
|
Secretaries |
0 |
|
Title |
|
Function |
Director |
|
Name |
MARGARET O'SHEA |
Nationality |
|
|
Date of Birth |
09/1956 |
Present Appointments |
4 |
|
Latest Address |
ROCKBORO AVE., OLD |
Appointment Date |
01/01/1902 |
|
|
BLACKROCK ROAD, CORK. |
|
|
|
Eircode |
|
|
|
|
Title |
|
Function |
Director |
|
Name |
MICHAEL O'SHEA |
Nationality |
|
|
Date of Birth |
04/1955 |
Present Appointments |
8 |
|
Latest Address |
TREVOR, ROCKBORO AVENUE, |
Appointment Date |
11/07/1978 |
|
|
OLD BLACKROCK ROAD, CO. |
|
|
|
|
CORK |
|
|
|
Eircode |
|
|
|
|
Title |
|
Function |
Director |
|
Name |
KEITH O'SHEA |
Nationality |
|
|
Date of Birth |
04/1984 |
Present Appointments |
1 |
|
Latest Address |
TREVOR, ROCKBORO AVENUE, |
Appointment Date |
06/04/2010 |
|
|
BLACKROCK, CORK |
|
|
|
Eircode |
|
|
|
|
Title |
|
Function |
Company Secretary |
|
Name |
MICHAEL O'SHEA |
Nationality |
|
|
Date of Birth |
04/1955 |
Present Appointments |
8 |
|
|
TREVOR, ROCKBORO AVENUE, |
|
|
|
Latest Address |
OLD BLACKROCK ROAD, CO. |
Appointment Date |
11/07/1978 |
|
|
CORK |
|
|
|
Eircode |
|
|
|
|
Name |
Currency |
Share Count |
Share Type |
Nominal Value |
|
KLK LTD |
EUR |
3,499 |
ORDINARY |
1.27 |
|
MICHAEL O'SHEA |
EUR |
1 |
ORDINARY |
1.27 |
Unable to report
percentage holdings as filed Shareholder
listing is not full.
Profit & Loss
|
Date Of |
31/12/14 |
(%) |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Weeks |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
(%) |
52 |
|
Currency |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR |
(%) |
EUR |
|
Consolidated |
|
|
|
|
|
|
|
|
|
|
A/cs |
N |
(%) |
N |
(%) |
N |
(%) |
N |
(%) |
N |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Export |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Cost
of Sales |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross
Profit |
€5,009,072 |
12.4% |
€4,455,585 |
19.2% |
€3,737,565 |
17.2% |
€3,188,604 |
24.5% |
€2,561,620 |
|
Wages
& |
€2,506,909 |
13.3% |
€2,213,404 |
19.3% |
€1,855,579 |
- |
- |
- |
- |
|
Salaries |
|
|
|
|
|
|
|
|
|
|
Directors |
€274,418 |
9.2% |
€251,269 |
32.8% |
€189,273 |
14.4% |
€165,488 |
19.3% |
€138,671 |
|
Emoluments |
|
|
|
|
|
|
|
|
|
|
Operating Profit |
€1,549,826 |
22.1% |
€1,269,810 |
31.1% |
€968,496 |
29.8% |
€746,291 |
16.2% |
€642,330 |
|
Depreciation |
€108,502 |
8.2% |
€100,283 |
49.7% |
€66,986 |
19% |
€56,286 |
30% |
€43,289 |
|
Audit
Fees |
- |
- |
- |
- |
€14,000 |
-32.2% |
€20,649 |
-29.6% |
€29,350 |
|
Interest |
|
|
|
|
|
|
|
|
|
|
|
€56,893 |
371% |
€12,078 |
-44.8% |
€21,896 |
6.9% |
€20,481 |
-5.8% |
€21,753 |
|
Payments |
|
|
|
|
|
|
|
|
|
|
Pre Tax Profit |
€1,495,363 |
18.8% |
€1,258,501 |
32.9% |
€946,948 |
30.4% |
€726,399 |
17.1% |
€620,577 |
|
Taxation |
-€191,535 |
-18.6% |
-€161,475 |
-32.7% |
-€121,726 |
-21.2% |
-€100,441 |
-14.5% |
-€87,707 |
|
Profit
After Tax |
€1,303,828 |
18.9% |
€1,097,026 |
32.9% |
€825,222 |
31.8% |
€625,958 |
17.5% |
€532,870 |
|
Dividends
Payable
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Retained Profit |
€1,303,828 |
18.9% |
€1,097,026 |
32.9% |
€825,222 |
31.8% |
€625,958 |
17.5% |
€532,870 |
Balance Sheet
|
Date Of |
31/12/14 |
(%) |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Tangible Assets |
€2,971,554 |
37.5% |
€2,161,804 |
253.7% |
€611,178 |
13% |
€540,811 |
22.7% |
€440,619 |
|
Intangible |
0 |
- |
0 |
- |
0 |
- |
0 |
-100% |
€70,000 |
|
Assets |
|
|
|
|
|
|
|
|
|
|
Total Fixed |
€2,971,554 |
37.5% |
€2,161,804 |
253.7% |
€611,178 |
13% |
€540,811 |
5.9% |
€510,619 |
|
Assets |
|
|
|
|
|
|
|
|
|
|
Stock |
€3,928,537 |
24.4% |
€3,157,716 |
1.7% |
€3,104,815 |
8% |
€2,874,539 |
38.4% |
€2,077,510 |
|
Trade
Debtors |
€3,773,997 |
0% |
€3,773,674 |
-3.3% |
€3,903,028 |
23.9% |
€3,151,312 |
43.9% |
€2,189,310 |
|
Cash |
€2,771,515 |
47.1% |
€1,884,141 |
43.1% |
€1,316,824 |
18.3% |
€1,113,378 |
-41.4% |
€1,898,514 |
|
Other
Debtors |
€700,131 |
14.6% |
€610,717 |
23.1% |
€496,019 |
21.2% |
€409,182 |
29.9% |
€315,066 |
|
Miscellaneous Current Assets |
0 |
-100% |
€150 |
- |
0 |
- |
0 |
- |
0 |
|
Total Current Assets |
€11,174,180 |
18.5% |
€9,426,398 |
6.9% |
€8,820,686 |
16.9% |
€7,548,411 |
16.5% |
€6,480,400 |
|
Trade
Creditors |
€2,218,307 |
19.6% |
€1,854,105 |
-14.8% |
€2,176,299 |
16.2% |
€1,873,095 |
33.4% |
€1,404,225 |
|
Bank Loans & Overdrafts |
€261,315 |
63.7% |
€159,610 |
478.5% |
€27,590 |
-11.4% |
€31,147 |
-56.5% |
€71,532 |
|
Other Short Term Finance |
€20,700 |
-46.1% |
€38,387 |
180.2% |
€13,700 |
- |
0 |
-100% |
€2,161 |
|
Miscellaneous Current Liabilities |
€800,453 |
88.2% |
€425,235 |
-18% |
€518,275 |
57.7% |
€328,699 |
26.2% |
€260,359 |
|
Total Current Liabilities |
€3,300,775 |
33.2% |
€2,477,337 |
-9.4% |
€2,735,864 |
22.5% |
€2,232,941 |
28.5% |
€1,738,277 |
|
Bank
Loans & Overdrafts
and LTL
|
€2,176,509 |
32.3% |
€1,644,538 |
744.7% |
€194,679 |
6% |
€183,738 |
-25.5% |
€246,541 |
|
Other
Long Term Finance
|
€12,916 |
-61.9% |
€33,894 |
-12.7% |
€38,817 |
- |
0 |
- |
0 |
|
Total Long Term Liabilities |
€1,915,194 |
29% |
€1,484,928 |
788.7% |
€167,089 |
9.5% |
€152,591 |
-12.8% |
€175,009 |
Capital & Reserves
|
Date Of |
31/12/14 |
(%) |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Called
Up Share Capital
|
€4,444 |
- |
€4,444 |
- |
€4,444 |
- |
€4,444 |
- |
€4,444 |
|
P
& L Account Reserve
|
€8,925,321 |
17.1% |
€7,621,493 |
16.8% |
€6,524,467 |
14.5% |
€5,699,246 |
12.3% |
€5,073,289 |
|
Revaluation
Reserve |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Sundry
Reserves
|
- |
- |
- |
- |
- |
|
- |
- |
- |
|
Shareholder |
€8,929,765 |
17.1% |
€7,625,937 |
16.8% |
€6,528,911 |
14.5% |
€5,703,690 |
12.3% |
€5,077,733 |
|
Funds |
|
|
|
|
|
|
|
|
|
Other Financial Items
|
Date Of |
31/12/14 |
(%) |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Net Worth |
€8,929,765 |
17.1% |
€7,625,937 |
16.8% |
€6,528,911 |
14.5% |
€5,703,690 |
13.9% |
€5,007,733 |
|
Working Capital |
€7,873,405 |
13.3% |
€6,949,061 |
14.2% |
€6,084,822 |
14.5% |
€5,315,470 |
12.1% |
€4,742,123 |
|
Total Assets |
€14,145,734 |
22.1% |
€11,588,202 |
22.9% |
€9,431,864 |
16.6% |
€8,089,222 |
15.7% |
€6,991,019 |
|
Total Liabilities |
€5,215,969 |
31.6% |
€3,962,265 |
36.5% |
€2,902,953 |
21.7% |
€2,385,532 |
24.7% |
€1,913,286 |
|
Net Assets |
€8,929,765 |
17.1% |
€7,625,937 |
16.8% |
€6,528,911 |
14.5% |
€5,703,690 |
12.3% |
€5,077,733 |
Cash Flow
|
Date Of |
31/12/14 |
(%) |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Net
Cashflow from
Operations |
€1,608,886 |
58.9% |
€1,012,451 |
95% |
€519,325 |
217.5% |
-€442,054 |
-164.6% |
€683,879 |
|
Net
Cashflow before
Financing |
€432,151 |
154.5% |
-€792,758 |
-448.7% |
€227,356 |
129.8% |
-€762,718 |
-233.1% |
€572,991 |
|
Net
Cashflow from
Financing |
€523,252 |
-60.3% |
€1,318,994 |
999.9% |
€31,577 |
240.9% |
-€22,418 |
64.8% |
-€63,706 |
|
Increase
in Cash
|
€955,403 |
81.6% |
€526,236 |
103.2% |
€258,933 |
133% |
-€785,136 |
-254.2% |
€509,285 |
Miscellaneous
|
Date Of |
31/12/14 |
(%) |
31/12/13 |
(%) |
31/12/12 |
(%) |
31/12/11 |
(%) |
31/12/10 |
|
Accounts |
|
|
|
|
|
|
|
|
|
|
Contingent
Liability |
NO |
- |
NO |
- |
NO |
- |
NO |
- |
NO |
|
Capital
Employed
|
€10,844,959 |
19% |
€9,110,865 |
36.1% |
€6,696,000 |
14.3% |
€5,856,281 |
11.5% |
€5,252,742 |
|
Number
of Employees |
44 |
2.3% |
43 |
-2.3% |
44 |
- |
- |
- |
- |
|
Accountants
|
|
|
|
|
|
|
|
|
|
|
Auditors |
HARTNETT
& COMPANY |
||||||||
|
Auditor |
The
audit report contains no adverse comments |
||||||||
|
Comments |
|
||||||||
|
Bankers |
ALLIED
IRISH BANK |
||||||||
|
Bank
Branch |
93-13-49 |
||||||||
|
Code
|
|
||||||||
Ratios
|
Date Of |
31/12/14 |
31/12/13 |
31/12/12 |
31/12/11 |
31/12 |
|
||
|
Accounts |
|
|||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pre-tax profit |
|
- |
- |
- |
- |
- |
|
|
|
margin % |
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current ratio |
|
3.39 |
3.81 |
3.22 |
3.38 |
3.7 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales/Net |
|
- |
- |
- |
- |
- |
|
|
|
Working Capital |
|
|||||||
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
Gearing % |
|
24.40 |
21.60 |
3 |
3.20 |
4.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equity in % |
|
63.10 |
65.80 |
69.20 |
70.50 |
73.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditor Days |
|
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debtor Days |
|
- |
- |
- |
- |
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
Liquidity/Acid |
|
2.19 |
2.53 |
2.08 |
2.09 |
2.5 |
|
|
|
Test |
|
|
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|
|
|
|
|
|
|
|
|
Return On |
|
|
|
|
|
|
|
|
|
Capital |
|
13.78 |
13.81 |
14.14 |
12.40 |
11.8 |
|
|
|
Employed % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return On Total |
|
|
|
|
|
|
|
|
|
Assets |
|
10.57 |
10.86 |
10.03 |
8.97 |
8.8 |
|
|
|
Employed % |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Debt |
|
0.36 |
0.32 |
0.41 |
0.39 |
0.3 |
|
|
|
Ratio |
|
|
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||
|
Total Debt Ratio 0.58 |
0.51 |
0.44 |
0.41 |
0.3 |
|
|||
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|
|
|
|
|
|
|
|
|
|
Stock Turnover |
|
- |
- |
- |
- |
- |
|
|
|
Ratio % |
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
Return on Net |
|
|
|
|
|
|
|
|
|
Assets |
|
16.74 |
16.50 |
14.50 |
12.73 |
12.2 |
|
|
|
Employed % |
|
|
|
|
|
|
|
|
Report Notes
There are no notes to display.
Status History
No Status History found
Event History
|
Date |
Description |
|
11/08/2015 |
New Accounts Filed |
|
11/08/2015 |
New Accounts Filed |
|
10/08/2015 |
Annual Returns |
|
06/10/2014 |
New Accounts Filed |
|
06/10/2014 |
New Accounts Filed |
|
04/10/2014 |
Annual Returns |
|
23/04/2013 |
New Accounts Filed |
|
23/04/2013 |
New Accounts Filed |
|
22/04/2013 |
Annual Returns |
|
14/06/2012 |
New Accounts Filed |
|
14/06/2012 |
New Accounts Filed |
|
13/06/2012 |
Annual Returns |
|
11/11/2011 |
Annual Returns |
|
11/11/2011 |
New Accounts Filed |
|
11/11/2011 |
New Accounts Filed |
|
Date |
Previous Name |
|
N/A |
PETROLEUM & CHEMICAL ENGINEERING
SUPPLIES LIMITED |
Received Documents
Writ Details
No writs found
|
Statistics |
|
Summary |
|
|
Group |
3 companies |
Holding Company |
K.L.K. LIMITED |
|
Linkages |
0 companies |
Ownership Status |
Intermediately Owned |
|
Countries |
In 0 countries |
Ultimate Holding Company |
K.L.K. LIMITED |
|
Company Name |
Registered |
Latest Key |
Consol. |
Turnover |
|
|
Number |
Financials |
|
|
|
K.L.K. LIMITED |
IE204193 |
31.08.2014 |
N |
|
|
PETROCHEM PIPELINE SUP... |
IE062847 |
31.12.2014 |
N |
|
|
ROCKBORO PROPERTIES LI... |
IE204190 |
31.08.2014 |
N |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.99 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.73.47 |
|
EURO |
1 |
Rs. 74.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.