MIRA INFORM REPORT

 

 

Report No. :

303315

Report Date :

24.01.2015

 

IDENTIFICATION DETAILS

 

Name :

LS VINA CABLE AND SYSTEM JSC

 

 

Registered Office :

So Dau Ward, Hong Bang Dist, Haiphong

 

 

Country :

Vietnam

 

 

Financials (as on) :

December, 2013

 

 

Date of Incorporation :

25.06.2008

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of Electrical Equipment and Appliances.

 

 

No. of Employees :

420

 

 

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)

Vietnam

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

VIETNAM - ECONOMIC OVERVIEW

 

Vietnam is a densely-populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Vietnamese authorities have reaffirmed their commitment to economic modernization in recent years. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink from about 25% in 2000 to less than 20% in 2013, while industry's share increased from 36% to more than 42% in the same period. State-owned enterprises account for about 40% of GDP. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. The global recession hurt Vietnam's export-oriented economy, with GDP in 2013 growing at 5%, the slowest rate of growth since 1999. In 2013, however, exports increased by more than 12%, year-on-year; several administrative actions brought the trade deficit back into balance. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value remained relatively stable in 2013. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. In February 2011, the government shifted from policies aimed at achieving a high rate of economic growth, which had stoked inflation, to those aimed at stabilizing the economy, through tighter monetary and fiscal control. Although Vietnam unveiled a broad, "three pillar" economic reform program in early 2012, proposing the restructuring of public investment, state-owned enterprises, and the banking sector, little perceptible progress has been made. Vietnam's economy continues to face challenges from an undercapitalized banking sector. Non-performing loans weigh heavily on banks and businesses.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

LS VINA CABLE AND SYSTEM JSC (1)

Address

:

So Dau Ward, Hong Bang Dist, Haiphong

Country

:

Vietnam

Phone (S)

:

[+84] 31-3540142

Facsimile

:

[+84] 31-3824969

Email

:

lsvinacns@lsvina.com

Website

:

http://www.lsvinacable.com.vn

Primary Business Activity

:

Manufacturer

Key Industry

:

Electrical Equipment & Appliances

 

Key Facts

Registered Legal Address

:

So Dau Ward, Hong Bang Dist, Haiphong

Operational Address

:

So Dau Ward, Hong Bang Dist, Haiphong

Name History

:

Business Entity Name

Effective Date

LG VINA CABLE JOINT VENTURE CO

25 Nov, 1996

LS VINA CABLE JSC

30 May, 2005

LS VINA CABLE AND SYSTEM JSC

25 Jun, 2008

Issuing Authority

:

Dept. of Planning & Investment - Hai Phong

License Number

:

021032000091

License Status

:

License exists - Normal.

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

25 Jun, 2008

Employees

:

420

 

 

 

DIRECTORS/MANAGEMENT

 

Report Details

Country

:

Vietnam

Business Entity Name

:

LS VINA CABLE AND SYSTEM JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Electrical Equipment & Appliances

Office Contact Details

Operating Address

:

So Dau Ward, Hong Bang Dist, Haiphong

Tel

:

[+84] 31-3540142

 

:

[+84] 31-3540330

 

:

[+84] 31-3540141

 

:

[+84] 31-3528332

Fax

:

[+84] 31-3824969

Email

:

lsvinacns@lsvina.com

Website Details

Website

:

http://www.lsvinacable.com.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

Tax / VAT Details

Tax Issuing Authority

:

Ministry of Finance

Local Name Used

:

Gia Trj Gia Tang (Value Added Tax)

Acronym

:

GTGT / VAT

GTGT / VAT Number

:

0200117005

 

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Dinh Kim Cuong

Vietnamese

Chief Accountant

-

2

Mr. Nguyen Minh Duc

Vietnamese

Deputy Managing Director

-

 

 

Management Details - 1

Personal Unique Identifier

:

MI03814937

Name

:

Mr. Dinh Kim Cuong

 

Date of Birth

:

1975

 

Management Details - 2

Personal Unique Identifier

:

MI03814934

Name

:

Mr. Nguyen Minh Duc

 

Date of Birth

:

1964

 

 

COMPANY DIRECTORS

 

1

 

 

Personal Unique Identifier

:

MI03814931

Name

:

Mr. Jai-Baeg In

Date of Birth

:

1966

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing LS VINA CABLE AND SYSTEM JSC's reputation within the respective industry failed to reveal any adverse information.

 

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Capital

:

US$ 13,272,875

 

CAPITAL (Currency: USD - US Dollar)

Authorized Capital

:

$ 13,272,875

 

 

SHAREHOLDERS

 

Total number of shareholders

:

3

Total number of shares

:

n/a

 

Currency

:

USD - US Dollar

 

No.

Shareholders

Country

Shares

Number

Amount (USD)

%

1

LS CORP

Korea, South (Republic of Korea)

n/a

n/a

81.00

2

HAIPHONG ELECTRICITY WATER MACHINE ASSEMBLY JSC

Vietnam

n/a

n/a

15.00

3

LS CABLE VIETNAM CO LTD

Vietnam

n/a

n/a

4.00

Total

 

n/a

n/a

100.00

Based on corporate statutory laws / regulations in Vietnam, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

PAYMENT INFORMATION

 

Sales Trend – Analysis

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

Note: (*)

Financials listed are the most recent available for this company.

 

Key Person

Legal Title

:

Managing Director

Name

:

Mr. Jai-Baeg In

Nationality

:

Korean

 

Supplementary Business

In addition to the core business, LS VINA CABLE AND SYSTEM JSC also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Raw materials

 

 

DOMESTIC SALES & PURCHASES

Annual Sales Analysis

Percentage

Domestic Sales

55%

International Sales (Export)

45%

 

Annual Purchases Analysis

Percentage

Local Purchases

20%

Imports

80%

 

 

PAYMENT TERMS

 

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~90 days

Export

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Received at time of transaction

 

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Secured with Post-dated checks 30~90 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

INTERNATIONAL TRADE - Activity & Markets

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

North America

Medium

Importing

Australia

Medium

Importing, Exporting

China

Medium

Importing, Exporting

India

Medium

Importing

Indonesia

Medium

Importing

Korea, South (Republic of Korea)

Medium

Importing, Exporting

Singapore

Medium

Exporting

USA

Medium

Importing

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

DIRECT / INDIRECT CORPORATE PARENT DETAILS

Direct Parent

:

LS CORP

Global Identifier

:

31319400

Legal Form Category

:

Public Listed Company

Country

:

Korea, South (Republic of Korea)

Operational Address

:

19Fl Asem Tower 159-1 Samsung-dong Kangnam-gu Seoul 135798

Primary Business Activity

:

Service

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2011 Annual  

239,766,011

117,825,636

192,223

2012 Annual  

254,066,861

131,975,360

7,258,318

2013 Annual (*)

280,113,562

120,069,717

11,335,688

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Sales

Assets

Net Income

2009 Annual

182,654,606

94,706,057

4,542,038

2010 Annual

240,489,328

123,164,033

141,406

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Current Assets(*)

2,138,718,000,000

2,464,313,000,000

2,280,241,000,000

Non Current Assets(*)

315,590,000,000

284,029,000,000

251,800,000,000

Non Current Liabilities(*)

3,606,000,000

4,967,000,000

5,427,000,000

Share Capital(*)

173,367,000,000

173,367,000,000

173,367,000,000

Other long term assets 

Total Assets(*)

2,454,308,000,000

2,748,342,000,000

2,532,041,000,000

Total Liabilities(*)

2,099,587,000,000

2,262,049,000,000

1,827,996,000,000

Current Liabilities(*)

2,095,981,000,000

2,257,082,000,000

1,822,569,000,000

Long term liabilities 

Shareholders Funds(*)

354,721,000,000

486,293,000,000

704,045,000,000

 

Current Assets & Short Term Investments

2,138,718,000,000

2,464,313,000,000

2,280,241,000,000

Cash & Cash Equivalents

184,177,000,000

402,077,000,000

447,345,000,000

Cash

25,177,000,000

194,077,000,000

92,424,000,000

Cash Equivalents

159,000,000,000

208,000,000,000

354,921,000,000

Accounts Receivable

811,004,000,000

1,045,619,000,000

1,052,162,000,000

Accounts Receivable Trade

818,739,000,000

1,031,060,000,000

1,077,740,000,000

Trade Prepayment

9,957,000,000

36,033,000,000

12,522,000,000

Others Receivables

7,696,000,000

12,132,000,000

5,217,000,000

Provision For Bad Debts

(25,388,000,000)

(33,606,000,000)

(43,317,000,000)

i. Inventories

1,078,365,000,000

984,082,000,000

759,036,000,000

ii. Inventories

1,078,365,000,000

1,000,973,000,000

765,941,000,000

Provision For Decline In Inventory

-

(16,891,000,000)

(6,905,000,000)

i. Other Short Term Asset

65,172,000,000

32,535,000,000

21,698,000,000

Prepaid Expenses

12,228,000,000

1,769,000,000

5,410,000,000

Vat Deductible

51,749,000,000

29,560,000,000

15,298,000,000

ii. Other Short Term Asset

1,195,000,000

1,206,000,000

990,000,000

Long Term Assets

315,590,000,000

284,029,000,000

251,800,000,000

Fixed Assets

310,750,000,000

275,872,000,000

245,213,000,000

Tangible Fixed Assets

285,841,000,000

253,768,000,000

224,754,000,000

i. Cost

623,246,000,000

625,877,000,000

633,831,000,000

i. Accumulated Depreciation

337,405,000,000

372,109,000,000

409,077,000,000

Intangible Fixed Assets

24,562,000,000

21,737,000,000

19,758,000,000

ii. Cost

42,724,000,000

44,608,000,000

44,737,000,000

ii. Accumulated Depreciation

18,162,000,000

22,871,000,000

24,979,000,000

Construction In Progress

347,000,000

367,000,000

701,000,000

i. Other Long Term Assets

4,840,000,000

8,157,000,000

6,587,000,000

Long Term Prepayments

2,810,000,000

6,126,000,000

4,556,000,000

Asset Of Income Tax Delay

2,030,000,000

-

2,031,000,000

ii. Other Long Term Assets

-

2,031,000,000

-

Total Assets

2,454,308,000,000

2,748,342,000,000

2,532,041,000,000

Liabilities

2,099,587,000,000

2,262,049,000,000

1,827,996,000,000

Current Liabilities

2,095,981,000,000

2,257,082,000,000

1,822,569,000,000

Short Term Borrowings

1,376,105,000,000

791,657,000,000

642,876,000,000

Accounts Payables-Trade

635,915,000,000

1,331,848,000,000

994,206,000,000

Advances From Customers

58,255,000,000

69,140,000,000

78,325,000,000

Taxes And Payable To State Budget

5,329,000,000

26,884,000,000

34,541,000,000

Payable To Employees

1,218,000,000

5,285,000,000

5,684,000,000

Accrued Expenses Payable

17,921,000,000

31,347,000,000

66,329,000,000

Other Payables

1,238,000,000

1,477,000,000

1,164,000,000

Provision For Short Term Payable

-

-

(556,000,000)

i. Bonus And Welfare Funds

-

(556,000,000)

-

Long Term Liabilities

3,606,000,000

4,967,000,000

5,427,000,000

Provision Funds For Unemployment

3,606,000,000

-

-

Provision For Long Term Payable

-

4,967,000,000

5,427,000,000

i. Owner's Equity

354,721,000,000

486,293,000,000

704,045,000,000

ii. Owner's Equity

355,250,000,000

486,293,000,000

704,045,000,000

Business Capital

173,367,000,000

173,367,000,000

173,367,000,000

Business Development Funds

3,710,000,000

3,710,000,000

3,710,000,000

Retained Earnings

178,173,000,000

309,216,000,000

526,968,000,000

Budget Sources

(529,000,000)

-

-

ii. Bonus And Welfare Funds

(529,000,000)

-

-

Total Resources

2,454,308,000,000

2,748,342,000,000

2,532,041,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Turnover(*)

4,994,326,000,000

5,290,856,000,000

5,907,060,000,000

Profit (Loss) Before Tax(*)

5,339,000,000

211,469,000,000

327,265,000,000

Profit After Tax attributable to Shareholders(*)

4,004,000,000

151,152,000,000

239,048,000,000

 

Gross Sales

4,994,326,000,000

5,290,856,000,000

5,907,060,000,000

Less Deductions

10,241,000,000

14,748,000,000

9,308,000,000

Net Income

4,984,085,000,000

5,276,108,000,000

5,897,752,000,000

Cost Of Goods Sold

4,647,196,000,000

4,859,317,000,000

5,338,765,000,000

Gross Margin

336,889,000,000

416,791,000,000

558,987,000,000

Income From Financial Activities

64,418,000,000

24,044,000,000

30,012,000,000

Expenses From Financial Activities

293,981,000,000

71,513,000,000

74,444,000,000

In Which: Interest Expenses

-

55,353,000,000

32,890,000,000

Selling Expenses

71,301,000,000

113,083,000,000

139,831,000,000

General & Administration Expenses

35,778,000,000

46,541,000,000

49,043,000,000

Net Income From Operating Activities

247,000,000

209,698,000,000

325,681,000,000

Extraordinary Income

7,397,000,000

7,991,000,000

1,862,000,000

Extraordinary Expenses

2,305,000,000

6,220,000,000

278,000,000

Extraordinary Gains

5,092,000,000

1,771,000,000

1,584,000,000

Net Profit Before Tax

5,339,000,000

211,469,000,000

327,265,000,000

Income Tax

1,335,000,000

60,317,000,000

88,217,000,000

Net Profit After Tax

4,004,000,000

151,152,000,000

239,048,000,000

Note: (*)

Financial Highlights

 

 

Financial Ratios

Financial Highlights

2011 Annual

2012 Annual

2013 Annual

Growth % 

Year-on-Year Growth

6.55

5.94

11.65

Profitability 

Profit Margin (%)

0.08

2.86

4.05

Return on Equity (%)

1.13

31.08

33.95

Return on Assets (%)

0.16

5.50

9.44

Leverage 

Total Debt Equity (Times)

5.92

4.65

2.60

Current Debt Equity (Times)

5.91

4.64

2.59

Long Term Debt to Equity

0.01

0.01

0.01

Total Asset To Total Equity

6.92

5.65

3.60

Asset Management 

Total Assets Turnover (Times)

2.03

1.93

2.33

Fixed Assets Turnover (Times)

15.83

18.63

23.46

Liquidity 

Current Ratio

1.02

1.09

1.25

 

Based on the corporate laws of Vietnam, legal entities which are Joint Stock Company are not required to make public disclosure of their annual financials. Although basic financials were obtained for reference.

 

 

FOREIGN EXCHANGE RATES

 

N/A

 

 

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

Aluminium conductors

Manufacturing, Trading

Aluminium wires

Manufacturing, Trading

Bare cables, alumininum

Manufacturing, Trading

Bare copper wires

Manufacturing, Trading

Bare stranded cable

Manufacturing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Electrical equipment and supplies, nspf, and parts, nspf

3699

Manufacturing, Trading

Fabricated wire products, nspf

3496

Manufacturing, Trading

Nonferrous metal wire and cable, drawn and insulated

3357

Manufacturing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Electrical equipment and supplies, nspf, and parts, nspf

3699

Manufacturing, Trading

Fabricated wire products, nspf

3496

Manufacturing, Trading

Nonferrous metal wire and cable, drawn and insulated

3357

Manufacturing, Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Cable accessories

Primary

Manufacturing, Trading

Control cables

Primary

Manufacturing, Trading

Copper wire rods

Primary

Manufacturing, Trading

Copper wires

Primary

Manufacturing, Trading

Electrical cables

Primary

Manufacturing, Trading

Low voltage cables

Primary

Manufacturing, Trading

Medium voltage cables

Primary

Manufacturing, Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of LS VINA CABLE AND SYSTEM JSC is Manufacturing - Finished products.
Key products include :

Bare cables, alumininum

Bare copper wires

Aluminium conductors

Aluminium wires

Bare stranded cable

Cable accessories

Control cables

Copper wire rods

Copper wires

Electrical cables

Low voltage cables

Medium voltage cables
An integral part of the core business includes:

Distribution

 

 

BANK DETAILS

Bank Name

:

ASIA COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0075118

Branch

:

District 3,Ho Chi Minh

Branch Address

:

DUYEN HAI

SWIFT Code

:

ASCBVNVX

 

Bank Name

:

INDOVINA BANK LTD

Global Identifier

:

32404053

Branch

:

District 1,Ho Chi Minh

Branch Address

:

INDOVINA BANK LTD - HAI PHONG

SWIFT Code

:

IABBVNVX

 

Bank Name

:

KOREA EXCHANGE BANK

Global Identifier

:

P1242336

Branch Address

:

KOREA EXCHANGE BANK - HANOI

SWIFT Code

:

This bank does not have a SWIFT Code

 

Bank Name

:

SHINHAN VIETNAM BANK LTD

Global Identifier

:

P1885646

Branch Address

:

SHINHAN VIETNAM BANK LTD - HANOI

SWIFT Code

:

This bank does not have a SWIFT Code

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

LS VINA CABLE AND SYSTEM JSC - HOAN KIEM DIST, HANOI

Branch Address

:

Rm 202, 2Fl, 4 Tran Hung Dao St, Hoan Kiem Dist, Hanoi

 

Branch

:

LS VINA CABLE AND SYSTEM JSC - DISTRICT 3, HO CHI MINH

Branch Address

:

7Fl Khanh Nguyen Bldg 6 Pham Ngoc Thach St, District 3, Ho Chi Minh

 

Branch

:

LS VINA CABLE AND SYSTEM JSC - HAI CHAU DIST, DA NANG

Branch Address

:

Rm 910, 9Fl Hoang Anh Gia Lai Hotel 1 Nguyen Van Linh St, Hai Chau Dist, Da Nang

 

OFFICE & FACILITIES

The following information relates to the Business Entity's office as listed above:

Name

:

LS VINA CABLE AND SYSTEM JSC - HONG BANG DIST, HAIPHONG

Primary Use

:

Office & Administration facilities

Address

:

So Dau Ward, Hong Bang Dist, Haiphong

Country

:

Vietnam

Status

:

Operational

 

COMPANY HISTORY

Date

Details

1996 - Nov

Established as a joint venture company.

2008 - Jun

Changed formation to joint stock company

 

QUALITY ACCREDITATION

Quality Accreditation Listings

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2000

 

PREVIOUS BUSINESS LICENSE/S

License Date

License No.

25 Nov, 1996

1481/GP

 

 

NOTES & COMMENTS

 

Note

:

(1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.50

UK Pound

1

Rs.92.16

Euro

1

Rs.69.62

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.