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Report No. : |
305616 |
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Report Date : |
02.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
PARTEX DENIM LTD. |
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Registered Office : |
Road# 9, House# 02, Block# G, Banani, Dhaka-1213 |
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Country : |
Bangladesh |
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Date of Incorporation : |
04.04.2005 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Exporter and Distributors of Denim Fabrics. |
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No. of Employee : |
650 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Bangladesh |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BANGLADESH - ECONOMIC OVERVIEW
Bangladesh's economy has
grown roughly 6% per year since 1996 despite political instability, poor
infrastructure, corruption, insufficient power supplies, slow implementation of
economic reforms, and the 2008-09 global financial crisis and recession.
Although more than half of GDP is generated through the service sector, almost
half of Bangladeshis are employed in the agriculture sector with rice as the
single-most-important product. Garment exports, the backbone of Bangladesh’s
industrial sector and 80% of total exports, surpassed $21 billion last year,
18% of GDP. The sector has remained resilient in recent years amidst a series
of factory accidents that have killed over 1,000 workers and crippling strikes
that shut down virtually all economic activity. Steady garment export growth
combined with remittances from overseas Bangladeshis, which totaled almost $15
billion and 13% of GDP IN 2013, are the largest contributors to Bangladesh’s
current account surplus and record foreign exchange holdings.
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Source
: CIA |
IDENTIFICATION DETAILS
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Correct company Name |
: |
PARTEX DENIM LTD. |
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Head Office |
: |
Road# 9, House# 02, Block# G, Banani, Dhaka-1213, Bangladesh. |
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Tel No |
: |
88-02-9872370, 9872380, 9872390 |
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Fax No |
: |
88-02-9872360 |
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E-mail |
: |
mail@partexdenim.com, habib@partexdenim.com, shasan@partexdenim.com |
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Website |
: |
www.partexdenim.com |
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Date/ Year of Incorporation |
: |
04.04.2005 |
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Incorporation No. |
: |
C-56481
|
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
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Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
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Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY
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|||
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Year |
Turnover/
Sales |
Assets |
Income |
|
July’ 12~June’
13 |
BDT
210 Million |
BDT
305.00 Million |
BDT
21.50 Million |
|
July’ 13~June’
14 |
BDT 439 Million |
BDT 318.35 Million |
BDT 25.46 Million |
|
Exchange Rate |
USD1-Tk. 77.8200 EUR 1- Tk. 100.2711 GBP 1- Tk.118.5354 AUD 1 - Tk.82.8563 JPY 1 - Tk.0.9286 |
CAD 1 - Tk.80.1887 SEK 1 - Tk.12.2870 SGD 1 - Tk.65.3045 CNH 1 - Tk.12.8399 |
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FULLCHECK
REPORT DETAILS
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Information Parted By |
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Name |
: |
Mr. Md. Mamun |
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Designation |
: |
Manager |
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Contract No |
: |
88-01713479774 |
Locations Details
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Corporate Address |
: |
Road# 1, House# 37, Block# 1, Banani, Dhaka-1213, Bangladesh. |
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Tel No |
: |
88-02-9872370, 9872380, 9872390 |
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Fax No |
: |
88-02-9872360 |
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E-mail |
: |
mail@partexdenim.com,habib@partexdenim.com,
shasan@partexdenim.com |
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Website |
: |
www.partexdenim.com |
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Comments for Address Changed |
: |
The subject company changed their address
“Sena Kalyan Bhaban-16th Floor-195 Motijheel C/A 1000 Dhaka.” |
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Location : |
: Owned |
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Rented |
Ö |
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Leased |
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Area |
3200 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
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Semi-commercial
office Bldg. |
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Retail shop |
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Industrial Park |
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Business Center |
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Home Office |
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Residential Bldg. |
Ö |
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Factory: |
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Address |
: |
Banglabazar, Joydevpur, Gazipur,
Bangladesh. |
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Tel No |
: |
88-02-9204650 |
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Fax No |
: |
88-02-9205572 |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
58000 |
Sq. ft. |
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Holding Office: |
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Address |
: |
74, Bir Uttam A.K. Khandaker Sarak,
Mohakhali Commercial Area, Dhaka-1212, Bangladesh. |
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Tel No |
: |
88-02-8822888 |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
150 |
In Factory |
: |
500 |
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In Branch: |
: |
- |
Total |
: |
650 |
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Details: |
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OWNERSHIP/SHAREHOLDERS
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Names of Shareholders |
No. of
Share |
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Mr. M. A. Hashem |
275000 |
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Mr. Aziz Al-Masud |
75000 |
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Mr. Showkat Aziz |
75000 |
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Mr. Ashfak Aziz |
75000 |
DIRECTORS
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Name |
Designation |
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Mr. M. A. Hashem |
Chairman |
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Mr. Aziz Al-Masud |
Managing Director |
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Mr. Showkat Aziz |
Director |
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Mr. Ashfak Aziz |
Director |
MANAGEMENT
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Name |
: |
Mr. Md. Mamun |
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Job Description |
: |
Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
88-01713479774 |
BUSINESS
OPERATIONS
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Nature of Activity : |
Manufacturer |
Ö |
Trader |
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Dealer |
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Distributor |
Ö |
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Exporter |
Ö |
Importer |
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Services |
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Others |
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Range of
Products: |
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Products |
: |
Denim Fabrics. |
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Production Capacity |
: |
19751040 Mtr. Per year |
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Last Year
Production |
: |
Do. |
Trading Terms:
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Purchasing Terms: |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
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30 days |
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60 days |
Ö |
90 days |
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days |
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Selling Terms : |
L/C |
Ö |
Cash |
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Others |
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|||
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Credit : |
|
30 days |
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60 days |
Ö |
90 days |
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|
days |
DETAILED
DATA
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Trade Reference
& Related Parties |
: |
Overseas Clients |
: |
N/A |
Local Clients |
: |
N/A |
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Overseas Suppliers |
: |
N/A |
Local Suppliers |
: |
N/A |
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Trade Markets |
: |
Exports |
: |
Europe |
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Imports |
: |
China, India |
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Brand Name |
: |
N/A |
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Certified |
: |
N/A |
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Auditors |
: |
N/A |
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Operation Status |
: |
Active. |
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Member |
: |
Bangladesh Textile Mills Association. |
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CAPITAL STRUCTURE
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Authorized
Capital |
: |
BDT 500 Million |
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Paid-up Capital |
: |
BDT 5, 00,00,000 |
No. of Shares |
: |
5, 00,000 |
Share
Value |
: |
BDT 100.00Each |
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Main Assets |
: |
BDT 318.35 Million |
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FINANCIAL
STATEMENT- DETAILED
|
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The subject company don’t submit update full
financial figure to local registry office. |
ASSOCIARES/SUBSIDIARIES/
RELATED PARTIES
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Sister Concerns |
: |
Star Particle Board Mills Ltd. Danish Condensed Milk Bangladesh Limited. Danish Food Products. Danish Milk Bangladesh Limited. Amber Cotton Mills Limited. Amber Pulp and Paper Mills Limited. Partex Beverage Limited. Partex Furniture Industries Limited. Danish Distribution Network Limited. Partex Plastics Limited. Rubel Steel Mills Limited. Partex Real Estate Limited. Star Vegetable Oil Mills Limited. Star Coconut Mills Limited. Dhakacom Limited (ISP). Corvee Maritime Co. Limited. Fotoroma Limited. Partex Limited. Hashem Corporation (Pvt.) Limited. Ferrotechnic Limited Partex Energy Ltd. |
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Subsidiary |
: |
N/A |
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Name of The Group |
: |
Partex Group. |
BANKING
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Bank Name
|
: |
Dutch Bangla Bank
Ltd. |
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Bank Address |
: |
Mohakhali Branch. Hotel Zakaria (1st Floor), 35 Gulshan Road, Mohakhali C/A, Dhaka – 1212, Bangladesh |
ADVERSE
DATA MONITORING
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Dishonored Checks |
:
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No Record Found |
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Debt |
: |
No Record Found |
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Litigation |
: |
Clear |
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Performance Defaults |
: |
No Record Found |
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Adverse Local Media Coverage/ Adverse Filling History |
: |
No Record Found |
SITE
VISIT COMMENTARY
|
|
Our representative visisted the subject company Head Office is
situated at Road# 9, House# 2, Block# G, Banani, Dhaka-1213, Bangladesh. It
is situated at residential area & their office is well decorated. |
GENERAL
COMMENTS
|
|
The subject company is engaged in manufacturer, Exporter &
Distributor. It is reputed company in this line of business. We recommended
that Credit can proceed normally in Moderate amount |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.75 |
|
|
1 |
Rs.93.13 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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-- |
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.