MIRA INFORM REPORT
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Report No. : |
301956 |
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Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
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Name : |
JEWELRY MANAGEMENT COMPANY LIMITED |
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Registered Office : |
8/F., On Hing Building, 1 On Hing Terrace, |
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Country : |
Hong Kong |
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Date of Incorporation : |
17.01.2014 |
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Com. Reg. No.: |
62651095 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in sale of jewelry Its main products are earrings, necklaces |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
|
-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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) |
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Hong Kong |
A1 |
A1 |
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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 |
HONG KONG - ECONOMIC
OVERVIEW
Hong Kong has a free market economy,
highly dependent on international trade and finance - the value of goods and
services trade, including the sizable share of re-exports, is about four times
GDP. Hong Kong has no tariffs on imported goods, and it levies excise duties on
only four commodities, whether imported or produced locally: hard alcohol,
tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping
laws. Hong Kong's open economy left it exposed to the global economic slowdown
that began in 2008. Although increasing integration with China, through trade,
tourism, and financial links, helped it to make an initial recovery more
quickly than many observers anticipated, its continued reliance on foreign
trade and investment leaves it vulnerable to renewed global financial market
volatility or a slowdown in the global economy. The Hong Kong government is
promoting the Special Administrative Region (SAR) as the site for Chinese
renminbi (RMB) internationalization. Hong Kong residents are allowed to
establish RMB-denominated savings accounts; RMB-denominated corporate and
Chinese government bonds have been issued in Hong Kong; and RMB trade
settlement is allowed. The territory far exceeded the RMB conversion quota set
by Beijing for trade settlements in 2010 due to the growth of earnings from
exports to the mainland. RMB deposits grew to roughly 12% of total system
deposits in Hong Kong by the end of 2013. The government is pursuing efforts to
introduce additional use of RMB in Hong Kong financial markets and is seeking to
expand the RMB quota. The mainland has long been Hong Kong's largest trading
partner, accounting for about half of Hong Kong's total trade by value. Hong
Kong's natural resources are limited, and food and raw materials must be
imported. As a result of China's easing of travel restrictions, the number of
mainland tourists to the territory has surged from 4.5 million in 2001 to 34.9
million in 2012, outnumbering visitors from all other countries combined. Hong
Kong has also established itself as the premier stock market for Chinese firms
seeking to list abroad. In 2012 mainland Chinese companies constituted about
46.6% of the firms listed on the Hong Kong Stock Exchange and accounted for
about 57.4% of the Exchange's market capitalization. During the past decade, as
Hong Kong's manufacturing industry moved to the mainland, its service industry
has grown rapidly. Credit expansion and tight housing supply conditions have
caused Hong Kong property prices to rise rapidly; consumer prices increased by
more than 4% in 2013. Lower and middle income segments of the population are
increasingly unable to afford adequate housing. Hong Kong continues to link its
currency closely to the US dollar, maintaining an arrangement established in
1983. In 2013, Hong Kong and China signed new agreements under the Closer
Economic Partnership Agreement, adopted in 2003 to forge closer ties between
Hong Kong and the mainland. The new measures, effective from January 2014,
cover services and trade facilitation, and will improve access to the
mainland's service sector for Hong Kong-based companies
|
Source
: CIA |
Company
name and address
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Company Name: |
Jewelry Management Company Limited |
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Supplied Name: |
Jewelry Management Company Ltd |
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Trading Address: |
Unit A2, 11/F, Kaiser Estate Phase 1, No 41 Man Yue Street Hung Hom, KL, HK |
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Supplied Address: |
Unit A2, 11/F, Kaiser Estate Phase 1 No 41 Man Yue Street Hung Hom |
Note: The exact name and address are as above.
Company
Identification Details
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Registered Name: |
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Registered Address: |
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Telephone Number: |
+852-2365-1021 |
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Date of Registration: |
2014-1-17 |
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Registered Number: |
2027869 |
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Business Registration No.: |
62651095 |
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Paid-up Capital: |
HKD 10,000 (USD 1,290) = 10,000 Shares @ HKD 1 (As of 2015.1, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
89731--Articles of jewellery and parts thereof, of precious metals or metals clad with precious metals (g) |
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Principal Activities: |
Trading of jewelry, etc. |
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Staff: |
N/A |
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Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
-- |
Notes:
Subject
declined to disclose its staff number, and from other source we can’t
obtain
the information, either.
History
Subject was incorporated on 2014-1-17 with the registered number 2027869 as Private Limited Liability Company in Hong Kong.
Corporate
Structure
Subject did not
introduce any subsidiaries or branches, from other source we can not obtain the
relevant information, either
Shareholders
|
Subscription Shares
|
Proportion of
Investment (%) |
|
|
Zetland Nominees Limited |
10,000 |
100% |
|
Total |
10,000 |
100% |
Major Shareholder
Information:
|
Name: |
Zetland Nominees Limited |
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Address: |
6th Floor, FWD Financial Centre, 308 Des Voeux Road Central, Hong Kong |
Management
Information
Core Management
Detailed Information of
Directors:
|
1 |
|
|
Name: |
Stuiber Dominik |
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Address: |
Flat D, 21/F, Canary Side 8 Shung Shun Street, Yau Tong, Kowloon, Hong Kong |
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Position: |
Director |
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ID Number: |
R685679(8) |
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Date of Appointment: |
2014-5-5 |
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2 |
|
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Name: |
Zetland Secretaries Limited |
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Address: |
8/F., On Hing Building, 1 On Hing Terrace, Hong Kong |
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Position: |
Corporate Secretary |
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Registered Number: |
752807 |
Former Directors:
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1 |
|
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Name: |
Wagner Holger |
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Address: |
House 12 Building 16 Apartment 8H Mebelnaya Street, Saint-Petersbury, Primorsky, Russia |
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Passport Number: |
C4K230CW9 |
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Issuing Country: |
Germany |
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Position: |
Director |
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Date of Cessation: |
2014-5-5 |
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2 |
|
|
Name: |
Zetland Nominees Limited |
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Address: |
6th Floor, FWD Financial Centre, 308 Des Voeux Road Central, Hong Kong |
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Position: |
Director |
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Registered Number: |
754119 |
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Date of Resignation: |
2014-1-21 |
Operation
Information
Offices & Factories
|
|
Office |
|
Address: |
Unit A2, 11/F, Kaiser Estate Phase 1, No 41 Man Yue Street Hung Hom, KL, HK |
Premises Information
Office address:
|
Address: |
Unit A On 11th Floor, Kaiser Estate, No. 41 Man Yue Street, Kowloon |
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Owners: |
Cheung Chak Sun |
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Memorial Number: |
UB1228195 |
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Date of Instrument: |
1975-12-4 |
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Date of Registration: |
1976-1-29 |
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Consideration Value: |
$1,377,027.80 (PT.) |
Note: P.T. means part of.
History of Premises Owners’
|
Memorial No.: |
UB1218795 |
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Date of Instrument: |
1975-11-27 |
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Date of Registration: |
1975-12-20 |
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Nature: |
Deed Of Mutual Covenant With Plans |
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In Favor of: |
-- |
Production Information
Subject is a trader of jewelry, etc. without any production activities.
Purchase Information
Subject’s products are purchased both at home and abroad.
Sales Information
Subject is engaged in sale of jewelry, etc.
Subject’s main products are earrings, necklaces, etc.
It is introduced that subject has its own jewelry shops for retailing services.
It is introduced that subject’s main sales regions are domestic market and abroad.
Settlements
Purchase
Domestic Purchase
|
Products |
Jewelry, etc. |
|
Payment Terms |
T/T, Cash, etc. |
Import
|
Products |
Jewelry, etc. |
|
Payment Terms |
L/C, T/T, etc. |
Domestic Markets
|
Product |
Jewelry, etc. |
|
Selling Terms |
T/T, Cash, etc. |
Export
|
Product |
Jewelry, etc. |
|
Selling Terms |
L/C, T/T, etc. |
Financial
Information
The subject has no obligation to supply its financial statement to the third party according to the relevant policy in Hong Kong and the only source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected to disclose the financial information; from other sources we could not obtain such information, either.
Bankers
Subject declined to disclose its bank details; from other source we could not obtain the relevant information, either.
Public
Mortgage Record
No mortgage record of subject was found.
Lawsuits
Up to now, no present or latent litigation of the subject has been found.
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High Court Action: |
Clear |
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High Court Baukufty Bankruptcy Proceedings: |
Clear |
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High Court Commercial Action: |
Clear |
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High Court Construction & Arbitration Proceedings: |
Clear |
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High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Department: |
Sales Department |
Industry
Information
89731--Articles of jewellery and parts thereof, of precious metals or metals clad with precious metals (g)
Unit: HKD/000
|
|
2014.05 |
2014.01~2014.05 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
United Arab Emirates |
360,811 |
286,593 |
1,910,636 |
2,509,526 |
|
3,452 |
187 |
14,139 |
4,212 |
|
|
Australia |
28,455 |
20,576 |
193,679 |
76,769 |
|
Belgium |
5,306 |
2,991 |
18,285 |
12,571 |
|
The Mainland of China |
15,416,663 |
2,786,822 |
80,725,040 |
14,919,295 |
|
Exports |
||||
|
United Arab Emirates |
34,144 |
20,993 |
266,704 |
182,114 |
|
895 |
1,895 |
2,797 |
5,247 |
|
|
Australia |
15,794 |
11,843 |
141,972 |
57,892 |
|
Belgium |
1,028 |
1,273 |
19,070 |
8,044 |
|
The Mainland of China |
286,047 |
25,826 |
1,126,839 |
117,609 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of Total exports |
Merchandise trade balance |
|
2011 |
3,764,596 |
65,662 |
3,271,592 |
3,337,253 |
+10.1 |
-427,343 |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2013.03 |
340,857 |
5,073 |
286,638 |
291,711 |
+11.2 |
-49,146 |
|
2013.04 |
332,963 |
4,503 |
285,763 |
290,267 |
+9.0 |
-42,696 |
|
2013.05 |
335,809 |
4,818 |
286,724 |
291,542 |
-1.0 |
-44,267 |
|
2013.06 |
327,309 |
4,476 |
273,161 |
277,637 |
-0.2 |
-49,673 |
|
2013.07 |
342,565 |
4,783 |
300,630 |
305,413 |
+10.6 |
-37,152 |
|
2013.08 |
347,059 |
4,932 |
302,558 |
307,490 |
-1.3 |
-39,570 |
|
2013.09 |
359,841 |
4,395 |
313,436 |
317,830 |
+1.5 |
-42,010 |
|
2013.10 |
361,196 |
4,458 |
318,686 |
323,144 |
+8.8 |
-38,052 |
|
2013.11 |
370,104 |
4,587 |
320,935 |
325,522 |
+5.8 |
-44,581 |
|
2013.12 |
365,228 |
4,596 |
306,281 |
310,877 |
0.0 |
-54,351 |
|
2014.01 |
323,436 |
4,299 |
299,157 |
303,456 |
-0.4 |
-19,979 |
|
2014.02 |
266,587 |
3,276 |
209,638 |
212,914 |
-1.3 |
-53,673 |
|
2014.03 |
351,889 |
5,120 |
296,403 |
301,523 |
+3.4 |
-50,365 |
|
2014.04 |
340,972 |
4,867 |
280,816 |
285,682 |
-1.6 |
-55,290 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
*Total exports figures have been rounded to the nearest final digit after summing up the constituent trade figures.
Attachment
Kaiser Estate Phase 1, No 41 Man Yue Street, Hung Hom, KL, HK
11/F, Kaiser Estate Phase 1, No 41 Man Yue Street, Hung Hom, KL, HK
Unit A2, 11/F, Kaiser Estate Phase 1, No 41 Man Yue Street, Hung Hom, KL, HK
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of diamonds
but history says that in the remote past, diamonds were mined only in India.
Diamond production in India can be traced back to almost 8th Century
B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of diamonds
has stopped completely.” Demand has started coming from the US, the UK, Japan
and China. India’s polished diamond export is expected to cross $ 21 bn in
2013-14.
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The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.97 |
|
|
1 |
Rs.94.97 |
|
Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.