|
Report No. : |
304354 |
|
Report Date : |
22.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASPECO BELGIUM NV |
|
|
|
|
Registered Office : |
Hoveniersstraat 30-Bus 153, 2018 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.02.1999 |
|
|
|
|
Com. Reg. No.: |
465442820 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesaler of diamonds and other precious stones |
|
|
|
|
No. of Employees : |
08 (31.12.2013) |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Belgium |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and
private-enterprise-based economy has capitalized on its central geographic location,
highly developed transport network, and diversified industrial and commercial
base. Industry is concentrated mainly in the more heavily-populated region of
Flanders in the north. With few natural resources, Belgium imports substantial
quantities of raw materials and exports a large volume of manufactures, making
its economy vulnerable to volatility in world markets. Roughly three-quarters
of Belgium's trade is with other EU countries, and Belgium has benefited most
from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the
unemployment rate increased to 8.8% from 7.6% the previous year, and the
government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%.
Despite the relative improvement in Belgium's budget deficit, public debt
hovers around 100% of GDP, a factor that has contributed to investor
perceptions that the country is increasingly vulnerable to spillover from the
euro-zone crisis. Belgian banks were severely affected by the international
financial crisis in 2008 with three major banks receiving capital injections
from the government, and the nationalization of the Belgian retail arm of a
Franco-Belgian bank.
|
Source
: CIA |
Business number 465442820
Company name ASPECO BELGIUM NV
Address HOVENIERSSTRAAT
30-BUS 153
2018 ANTWERPEN
Number of staff 8
Date of establishment 02/02/1999
Telephone number 034011000
Fax number --
Company name Company
Number
Aspeco Belgium NV
465442820
The business was established over 15 years ago.
The business has 8 employees.
The business is part of a group.
This business has a foreign parent business.
The business
has changed its registered name recently.
The business has
been at the address for over 6 months.
The business
has changed address 1 times in the last year.
A 26% decline in Total Assets occurred during the latest trading period.
The business saw a decrease in their Cash Balance of 49% during the latest trading period.
Turnover in the latest trading period decreased 33% on the previous trading period.
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2013 |
115,765,125 |
142,051 |
9,186,339 |
26,435,242 |
|
31/03/2013 |
174,874,575 |
156,537 |
9,788,168 |
28,251,633 |
|
31/03/2012 |
187,990,869 |
58,573 |
9,264,871 |
26,891,344 |
|
DATE OF LATEST ACCOUNTS |
BALANCE TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2013 |
72,543,820 |
8 |
7,689,646 |
279,440 |
|
31/03/2013 |
98,448,211 |
9 |
8,281,402 |
372,412 |
|
31/03/2012 |
112,570,042 |
10 |
7,939,923 |
295,693 |
BANKRUPTCY DETAILS
Court action type No
Business number 465442820
Company name ASPECO BELGIUM NV
Fax number Date founded 02/02/1999
Company status active
Company type Public Limited Liability
Company (BE)
Currency Euro (€)
Date of latest accounts 31/12/2013
Activity code 46761
Liable for VAT Yes
Activity description Wholesaler
of diamonds and other precious stones
VAT Number BE.0465.442.820
Belgian Bullettin of Acts moniteur
belge
Publications
Registered contractor number -
Contractor description -
Date struck off register -
|
Social Balance Sheet |
Total |
|
|
|
During the reporting year ended
31-12-2013 |
|||
|
Full-time Employees |
8 |
|
|
|
Part-time Employees |
2 |
|
|
|
Total Fte Employees |
9 |
|
|
|
|
|||
|
Number of hours worked |
|||
|
Full-time Employees |
9,696 |
|
|
|
Part-time Employees |
1,866 |
|
|
|
Total |
11,562 |
|
|
|
|
|||
|
Personnel Charges |
|||
|
Full-time Employees |
284,039 |
|
|
|
Part-time Employees |
46,285 |
|
|
|
Total |
330,324 |
|
|
|
Benefits In Addition To
Wages |
4,293 |
|
|
|
|
|||
|
During the previous
reporting year |
|||
|
Average number employees in
Fte |
11 |
|
|
|
Actual working hours |
16,888 |
|
|
|
Personnel Charges |
461,353 |
|
|
|
Benefits In Addition To
Wages |
5,708 |
|
|
|
|
|||
|
Type of Contract Full-Time |
Part-Time |
Total Fte |
|
|
Unlimited Duration 7 Contracts |
2 |
8 |
|
|
Limited Duration
Contracts - -
- |
|||
|
Contracts For Specific
Work - -
- |
|||
|
Contracts Regarding - -
- Substitution |
|||
|
Gender and Education |
|
|
|
|
|
Level |
|
|
|
|
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary education - - - |
||||
|
Secondairy education |
5 |
- |
5 |
|
|
Higher education (non |
- |
- |
- |
|
|
university) |
|
|
|
|
|
Higher education |
- |
- |
- |
|
|
(university) |
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary education - - - |
||||
|
Secondairy education |
2 |
2 |
3 |
|
|
Higher education (non |
- |
- |
- |
|
|
university) |
|
|
|
|
|
Higher education |
- |
- |
- |
|
|
(university) |
|
|
|
|
|
*— |
Working Category |
Full-Time |
Part-Time |
Total Fte |
|
|
|
Management |
- |
- |
- |
|
|
|
White collar worker |
5 |
2 |
6 |
|
|
|
Blue collar worker |
2 |
- |
2 |
|
|
|
Other |
- |
- |
- |
|
|
|
|||||
|
|
Temporary personnel |
|
Total |
|
|
|
|
Average number of temporary staff |
- |
|
|
|
|
|
Actual working hours |
|
- |
|
|
|
|
Cost of temporary staff |
|
- |
|
|
|
|
|||||
|
|
New staff and leavers |
Full-Time |
Part-Time |
Total Fte |
|
|
|
New Starters |
- |
- |
- |
|
|
|
Leavers |
- |
2 |
1 |
|
Personnel (NSSO classification) Code -
Description -
Joint Industrial Committee (JIC) JIC
Code 218
Description Additional
national joint committee for the employees
Category --
Personnel (NSSO classification) Code -
Description -
Joint Industrial Committee (JIC) JIC Code 218
Description Additional national
joint committee for the employees
Category
Event Date 23/07/2013
Event Description re-appointment of
director(s)
Event Details Commentaar
23-07-2013: Herbenoemd als bestuurders tot de jaarvergadering
van 2018 : Shah
Nitin,
Shah Bela (tevens voorzitter en gedelegeerd
bestuurder), Shah Yogesh en Shah Rashmikant.
|
Annual accounts |
31-12-2013 |
% |
31-03-2013 |
% |
31-03-2012 |
Industry average 2013 |
% |
|
Weeks |
39 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
115,765,125 |
-33.80 |
174,874,575 |
-6.98 |
187,990,869 |
54,844,489 |
111 |
|
Total operating expenses |
113,015,921 |
-34.33 |
172,100,603 |
-7.51 |
186,067,062 |
54,388,766 |
107 |
|
Operating result |
2,749,204 |
-0.89 |
2,773,972 |
44.19 |
1,923,807 |
149,720 |
1736 |
|
Total financial income |
93,204 |
-80.67 |
482,157 |
-21.91 |
617,421 |
80,212 |
16.20 |
|
Total financial expenses |
2,700,357 |
-12.88 |
3,099,592 |
24.85 |
2,482,655 |
188,629 |
1331 |
|
Results on
ordinary operations before taxation |
142,051 |
-9.25 |
156,537 |
167 |
58,573 |
35,110 |
304 |
|
Taxation |
44,457 |
17.14 |
37,952 |
-18.07 |
46,324 |
21,826 |
103 |
|
Results on
ordinary operations after taxation |
97,594 |
-17.70 |
118,585 |
868 |
12,249 |
19,092 |
411 |
|
Extraordinary items |
0 |
-100 |
6,250 |
-82.32 |
35,342 |
5,359 |
-100 |
|
Other appropriations |
0 |
- |
0 |
0 |
-1 |
- |
- |
|
Net result |
97,594 |
-21.82 |
124,835 |
162 |
47,590 |
24,586 |
296 |
OTHER INFORMATION
|
|
|
|
|
|
|
|
|
|
Gross Operating Margin |
- |
- |
- |
- |
- |
33,386 |
- |
|
Dividends |
- |
- |
- |
- |
- |
234,766 |
- |
|
Director remuneration |
- |
- |
- |
- |
- |
125,886 |
- |
|
Employee costs |
330,324 |
-33.52 |
496,856 |
-8.12 |
540,755 |
139,463 |
136 |
|
Wages and
salary |
250,071 |
-34.35 |
380,918 |
-6.85 |
408,950 |
120,523 |
107 |
|
Employee
pension costs |
- |
- |
- |
- |
- |
23,129 |
- |
|
Social
security contributions |
69,188 |
-31.40 |
100,860 |
-8.05 |
109,694 |
29,804 |
132 |
|
Other
employee costs |
11,065 |
-26.61 |
15,078 |
-31.81 |
22,111 |
3,981 |
177 |
|
Amortization and depreciation |
181,846 |
-26.55 |
247,577 |
-0.21 |
248,103 |
17,911 |
915 |
|
Annual
accounts |
31-12-2013 |
% |
31-03-2013 |
% |
31-03-2012 |
Industry average 2013 |
% |
|
Weeks |
39 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
0 |
- |
0 |
- |
0 |
1,303 |
-100 |
|
Tangible
fixed assets |
1,003,095 |
-16.58 |
1,202,408 |
-12.90 |
1,380,503 |
187,897 |
433 |
|
Land
& building |
- |
- |
- |
- |
- |
367,237 |
- |
|
Plant
& machinery |
496,363 |
-20.93 |
627,758 |
-10.81 |
703,822 |
26,714 |
1758 |
|
Furniture
& Vehicles |
50,997 |
4510 |
1,106 |
-94.74 |
21,018 |
15,817 4,605 |
222 |
|
Leasing
& Other Similar Rights |
455,735 |
-20.54 |
573,544 |
-12.52 |
655,664 |
107,517 34,551 |
323 |
|
Other
tangible assets |
0 |
- |
0 |
0 |
-1 |
9,063 |
-100 |
|
Financial
fixed assets |
5,615 |
-10.29 |
6,259 |
-83.15 |
37,150 |
181,302 |
-96.90 |
|
Total
fixed assets |
1,008,710 |
-16.54 |
1,208,667 |
-14.74 |
1,417,654 |
299,199 |
237 |
|
Inventories |
17,412,049 |
-26.42 |
23,664,079 |
-21.41 |
30,112,310 |
2,921,477 |
496 |
|
Raw
materials & consumables |
- |
- |
- |
- |
- |
6,545,857 |
- |
|
Work
in progress |
0 |
- |
0 |
- |
0 |
1,131 |
-100 |
|
Finished
goods |
17,412,049 |
-26.42 |
23,664,079 |
-21.41 |
30,112,310 |
1,936,680 |
799 |
|
Other
stocks |
0 |
- |
0 |
- |
0 |
449,387 |
-100 |
|
Trade
debtors |
50,779,560 |
-25.06 |
67,757,769 |
-14.28 |
79,047,059 |
4,233,539 |
1099 |
|
Cash |
2,628,279 |
-49.37 |
5,191,222 |
408 |
1,021,431 |
459,715,559 |
-99 |
|
other
amounts receivable |
638,570 |
13.76 |
561,351 |
-37.73 |
901,516 |
199,435 |
220 |
|
Miscellaneous
current assets |
76,652 |
17.70 |
65,123 |
-7.06 |
70,072 |
-452,557,856 |
0.02 |
|
Total
current assets |
71,535,110 |
-26.43 |
97,239,544 |
-12.52 |
111,152,388 |
7,114,418 |
905 |
|
Total
Assets |
72,543,820 |
-26.31 |
98,448,211 |
-12.54 |
112,570,042 |
7,380,766 1,283,898 |
882 |
|
Annual
accounts |
31-12-2013 |
% |
31-03-2013 |
% |
31-03-2012 |
Industry average 2013 |
% |
|
Trade
creditors |
4,120,476 |
-55.19 |
9,196,247 |
-71.76 |
32,563,021 |
2,902,416 |
41.97 |
|
Short
term group loans |
|
|
|
|
|
|
|
|
Financial
debts |
40,654,035 |
-31.61 |
59,446,862 |
15.70 |
51,378,787 |
4,398,237 146,879 |
824 |
|
Current
portion of long term debt |
159,429 |
5.43 |
151,217 |
0.06 |
151,130 |
76,213 13,806 |
109 |
|
Amounts
Payable for Taxes, Remuneration & Social Security |
113,667 |
-14.62 |
133,136 |
4.42 |
127,502 |
8,317 - |
259 |
|
Miscellaneous
current liabilities |
52,261 |
-13.55 |
60,449 |
48.87 |
40,604 |
-78.25 |
-- |
|
Total
current liabilities |
45,099,868 |
-34.63 |
68,987,911 |
-18.13 |
84,261,044 |
5,069,616 |
789 |
|
Long
term group loans
|
|
|
|
|
|
|
|
|
Other
long term loans |
5,785,893 |
-7.29 |
6,240,651 |
574 |
925,588 |
399 |
-- |
|
Deffered
taxes |
- |
- |
- |
- |
- |
46,266 28,377 |
- |
|
Provisions
for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
3,952 0 |
-100 |
|
Other
long term liabilities |
12,471,720 |
-7.15 |
13,431,481 |
-25.87 |
18,118,539 |
244,411 |
5002 |
|
Total
long term debts |
18,257,613 |
-7.19 |
19,672,132 |
3.30 |
19,044,127 |
675,434 |
2603 |
|
Issued
share capital |
7,689,646 |
-7.15 |
8,281,402 |
4.30 |
7,939,923 |
963,180 |
698 |
|
Share
premium account |
270,190 |
-7.15 |
290,982 |
4.30 |
278,984 |
124,160 |
117 |
|
Reserves |
1,226,503 |
0.88 |
1,215,784 |
16.24 |
1,045,964 |
643,435 |
90.62 |
|
Revaluation
reserve |
- |
- |
- |
- |
- |
852,199 |
- |
|
Total
shareholders equity |
9,186,339 |
-6.15 |
9,788,168 |
5.65 |
9,264,871 |
1,627,797 |
464 |
|
Working
capital |
26,435,242 |
-6.43 |
28,251,633 |
5.06 |
26,891,344 |
2,044,802 |
1192 |
|
Cashflow |
279,440 |
-24.96 |
372,412 |
25.95 |
295,693 |
39,114 |
614 |
|
Net
worth |
9,186,339 |
-6.15 |
9,788,168 |
5.65 |
9,264,871 |
1,626,493 |
464 |
|
Annual accounts |
31-12-2013 |
change(%) |
31-03-2013 |
change(%) |
31-03-2012 |
Industry average 2013 |
% |
|
TRADING PERFORMANCE |
|
|
|
|
|
|
|
|
Profit Before Tax |
0.12 |
33.33 |
0.09 |
200 |
0.03 |
-7,00 |
1.71 |
|
0.52 |
-1.89 |
0.53 |
152 |
0.21 |
-8,00 |
6.50 |
|
|
0.20 |
25.00 |
0.16 |
220 |
0.05 |
-8,00 |
2.50 |
|
|
1.55 |
-3.12 |
1.60 |
153 |
0.63 |
-8,00 |
19.38 |
|
|
4.38 |
-29.24 |
6.19 |
-11.44 |
6.99 |
134,00 |
-99 |
|
|
15.04 |
11.16 |
13.53 |
-15.54 |
16.02 |
76,00 |
-80.21 |
|
|
160.10 |
13.21 |
141.42 |
-7.86 |
153.48 |
140,65 |
13.83 |
|
|
13.31 |
-31.74 |
19.50 |
-69.47 |
63.88 |
123,06 |
-89.18 |
|
|
SHORT TERM STABILITY |
|
|
|
|
|
|
|
|
1.59 |
12.77 |
1.41 |
6.82 |
1.32 |
4,00 |
-84.10 |
|
|
1.20 |
12.15 |
1.07 |
11.46 |
0.96 |
3,00 |
-60.00 |
|
|
4.91 |
-30.35 |
7.05 |
-22.44 |
9.09 |
10,00 |
-50.90 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
|
|
LONG TERM STABILITY |
|
|
|
|
|
|
|
|
507.27 |
-24.59 |
672.64 |
18.80 |
566.18 |
231,00 |
119 |
|
|
12.66 |
27.36 |
9.94 |
20.78 |
8.23 |
-212,00 |
5.97 |
|
|
6.90 |
-23.84 |
9.06 |
-18.74 |
11.15 |
11,00 |
-37.27 |
Activity code 46761
Activity description Wholesale of diamonds and other precious stones
Payment expectations
Payment expectation days 13.31
Day sales outstanding 160.10
Industry comparison
Activity code 46761
Activity description Wholesale of diamonds and
other precious stones
Industry quartile analysis
Payment expectations
Company result 13.31
Lower 122.66
Median 75.38
Upper 46.73
Day sales outstanding
Company result 160.10
Lower 101.92
Median 54.34
Upper 24.45
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Summons
there is no data for this company
Protested Bills
there is no data for this company
Bankruptcy and other legal
events
there is no data for this company
Current director details
Name BELA NITINKUMAR SHAH
Position Chairman
of the Board
Start Date 17/12/2004
Street 9 DENNENLAAN ANTWERPEN
Post code 2020
Country Belgium
Position Managing Director
Start Date 01/07/2011
Street 9 DENNENLAAN ANTWERPEN
Post
code 2020
Country Belgium
Position Director
Start Date 17/12/2004
Street 9 DENNENLAAN ANTWERPEN
Post
code 2020
Country Belgium
Name NITIN
KUMAR NATWARLAL SHAH
Position Director
Start Date 01/04/2008
Street 9 DENNENLAAN ANTWERPEN
Post
code 2020
Country Belgium
Position Director
Start Date 01/01/2008
Street
Post code
Country India
Name RASHMIKANT NATWARLAL
SHAH
Position Director
Start Date 01/04/2007
Street
Post code
Country India
Name BELA SHAH BELA
Position Managing
Director
Start Date 01/07/2011
Former director details
Name NITIN KUMAR NATWARLAL
SHAH
Position Principal
Manager
Start Date 02/02/1999
End Date 17/12/2004
Street 9 DENNENLAAN ANTWERPEN
Post code 2020
Country Belgium
Position Managing
Director
Start Date 01/09/2009
End Date 30/06/2011
Street 9 DENNENLAAN ANTWERPEN
Post code 2020
Country Belgium
Name BELA SHAH BELA
Position Director
Start Date 17/12/2004
End Date 01/09/2009
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.
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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.
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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.
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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.
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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.61.61 |
|
UK Pound |
1 |
Rs.93.49 |
|
Euro |
1 |
Rs.71.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
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.