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Report No. : |
308832 |
|
Report Date : |
23.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ABUL KHAIR LIMITED |
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Registered Office : |
D.T Road, Pahartali, Chittagong-4000 |
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Country : |
Bangladesh |
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Date of Incorporation : |
28.12.1998 |
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Legal Form : |
Private Company |
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Line of Business : |
Manufacturer, Distributor & Exporter of Corrugated Iron Sheet, Galvanized Plain (GP) Sheet |
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No. of Employees : |
1100 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Bangladesh |
A2 |
A2 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
|
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.
|
Source
: CIA |
IDENTIFICATION
DETAILS
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Correct company Name |
: |
ABUL KHAIR LIMITED |
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Head Office |
: |
D.T Road, Pahartali, Chittagong-4000, Bangladesh. |
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Tel No |
: |
88-031-714541-2, 752233, 720284, 720239 |
|
Fax No |
: |
88-031-710051 |
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E-mail |
: |
f-alam@abulkhairgroup.com, wazed@abulkhairgroup.com |
|
Website |
: |
www.abulkhairgroup.com |
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Date/ Year of Incorporation |
: |
28-12-1998 |
|
Incorporation No. |
: |
C-37032 |
|
Legal Form (General) |
: |
Public Listed Co Public (but not listed) Private Co State-owned Co Sole Proprietorships Partnership Not Registered others (please specify)
________________ |
|
Legal form (Specific) |
: |
LTD CORP INC CO others (please specify)
________________ |
|
Issuing Authority |
: |
Registrar of
Joint Stock Companies & Firms City Corporation Municipal Administration Union Council Cantonment Board Chief Controller of Import & Export (CCIE) |
FINANCIALS- SUMMARY |
|||
|
Year |
Turnover/
Sales |
Assets |
Income |
|
July’ 12~June’
13 |
BDT 9867.37 Million |
BDT 39869.50 Million |
BDT 396.65 Million |
|
July’ 13~June’
14 |
BDT 10131.62 Million |
BDT 40127.50 Million |
BDT 415.39 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. Iqbal Anwar |
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Designation |
: |
General Manager |
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E-mail |
: |
iqbal@abulkhairgroup.com |
Locations Details
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Operating Address |
: |
D.T Road, Pahartali, Chittagong-4000, Bangladesh. |
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Tel No |
: |
88-031-714541-2, 752233, 720284, 720239 |
|
Fax No |
: |
88-031-710051 |
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E-mail |
: |
f-alam@abulkhairgroup.com, wazed@abulkhairgroup.com |
|
Website |
: |
www.abulkhairgroup.com |
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Location : |
: Owned |
Ö |
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Rented |
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Leased |
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Area |
2500 |
Sq. ft. |
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Type of Office : |
:
Commercial Office Bldg. |
Ö |
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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. |
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Factory: |
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Address |
: |
Khadimpara, Bhatiary, Sitakundu,
Chittagong, Bangladesh. |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Owned |
Ö |
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Rented |
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Leased |
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Area |
30 |
Acores |
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Branches: |
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Address |
: |
Nil |
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Tel No |
: |
Nil |
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Fax No |
: |
Nil |
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Employee: |
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No. of Employees |
In Office |
: |
40 |
In Factory |
: |
1060 |
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In Branch: |
: |
- |
Total |
: |
1100 |
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Details: |
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OWNERSHIP/SHAREHOLDERS |
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Names of Shareholders |
No. of
Share |
|
Mr. Abul Kashem |
1031 |
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Mr. Abul Hashem |
1182 |
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Mr. Md. Abu Syed Chowdhury |
1182 |
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Mr. Shah Shafiqul Islam |
1182 |
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Mrs. Hosneara Begum |
141 |
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Mrs. Noorjahan Begum |
141 |
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Mrs. Majeda Begum |
141 |
|
Shah Dairy Products Limited |
95000 |
DIRECTORS |
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|
Name |
Designation |
|
Mr. Abul Hashem |
Managing Director |
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Mr. Abul Kashem |
Director |
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Mr. Md. Abu Syed Chowdhury |
Director |
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Mr. Shah Shafiqul Islam |
Director |
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Mrs. Hosneara Begum |
Director |
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Mrs. Noorjahan Begum |
Director |
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Mrs. Majeda Begum |
Director |
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Mr. Abul Hashem |
Director |
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Mr. Md. Abu Syed Chowdhury |
Director |
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Mr. Shah Shafiqul Islam |
Director |
|
Mrs. Hosneara Begum |
Director |
MANAGEMENT |
||
|
Name |
: |
Mr. Iqbal Anwar |
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Job Description |
: |
General Manager |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
iqbal@abulkhairgroup.com |
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Other details |
: |
N/A |
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Name |
: |
Mr. Sarajit Kumar |
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Job Description |
: |
Accounts Officer |
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Nationality |
: |
Bangladeshi |
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Email address |
: |
N/A |
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Other details |
: |
N/A |
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 |
: |
Corrugated Iron Sheet, Galvanized Plain (GP)
sheet |
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Production Capacity |
: |
(Cold Rolling Mills): 60, 000 Mt per year |
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Last Year
Production |
: |
(Continuous Galvanized Line): 120000mt per
year |
Trading Terms:
|
Purchasing 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 |
|
|
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 |
|
60 days |
Ö |
90 days |
|
|
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 |
: |
N/A |
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Imports |
: |
China, India, Italy, Singapore, Germany, Turkey, Pakistan, Malaysia. |
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Brand Name |
: |
Goru Marka Dhew Tin (Cow Brand) |
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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 |
: |
N/A |
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CAPITAL STRUCTURE |
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Authorized Capital |
: |
BDT 50 Million |
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Paid-up Capital |
: |
BDT 1, 00,00,000 |
No. of Shares |
: |
1, 00,000 |
Share
Value |
: |
BDT 100.0Each |
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Main Assets |
: |
BDT 4127.50 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 |
: |
A.K Properties Limited Abul Khair Tea Limited Shah Dairy Foods Limited A.K Corporation Limited Beverage Industries limited Shah Cement Industries Ltd. Abul Khair Steel Mills Ltd Shah Dairy Products Limited Abul Khair Condensed Milk & Abul Khair Steel Products Ltd Abul Khair Match Factory Ltd. Abul Khair Steel Melting Limited Abul Khair Power Ishwardi Limited Smark Coconut Oil Products Limited Abul Khair Tobacco Company Limited Abul Khair Ceramic Industries Limited. Abul Khair Vegetables Oil Industries Ltd Abul Khair Condensed Milk Industries Ltd. |
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Subsidiary |
: |
Nil |
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Name of The Group |
: |
Abul Khair Group |
BANKING |
|
|
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Bank Name
|
: |
Islami Bank
Bangladesh Ltd. |
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Bank Address |
: |
Khatunganj Branch 82, Azim Market, Khatunganj, Chittagong Phone: (031) 620744, 634323 Fax: (031) 622748 Email: khatungonj@islamibankbd.com |
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||
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Bank Name
|
: |
Sonali Bank Ltd. |
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Bank Address |
: |
Khatunganj Branch Khatunganj, Chittagong Tel: 88-031-618299 |
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Bank Name
|
: |
National Bank Ltd. |
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Bank Address |
: |
Agrabad Branch 67, Agrabad C/A, Chittagong, Phone: 031-716163-4 |
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Bank Name
|
: |
Bank Asia Ltd. |
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Bank Address |
: |
Agrabad Branch 69, Agrabad C/ A, Chittagong Ph: 880-31-714665, 724876, 714703, Fax: 880-31-714548, Telex: 633274 BAAGR BJ |
ADVERSE DATA MONITORING |
||
|
Dishonored Checks |
:
|
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 Visited the subject company Head office which is
situated at D.T Road, Pahartali, Chittagong-4000, Bangladesh. The subject company
General Manager Mr. Iqbal Anwar given us all information. Is situated at
commercial area which is a well decorated modern office. |
GENERAL COMMENTS |
|
AKL has been established in the steel-flat division of the Group. AKL along
with two other companies by the name of Abul Khair Steel Industries Ltd., and
Abul Khair Steel Products Ltd. produces steel-corrugated iron (CI)
sheet/Galvanized Plain (GP) sheet from imported HR Coil through its CRM and
CGL plant. The three companies together serve a major portion of the domestic
demand in the country for CI/GP sheet. AKL holds an important position in the
Group’s financial standing today. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.