MIRA INFORM REPORT

 

 

Report No. :

327963

Report Date :

16.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SMOLENSK DIAMONDS NV

 

 

Registered Office :

Hoveniersstraat 53-Bus 105 2018 Antwerp

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

09.11.1992

 

 

Com. Reg. No.:

448601046

 

 

Legal Form :

Public  Limited  Liability Company

 

                                            

Line of Business :

Wholesale of diamonds and other precious stones

 

 

No. of Employees :

6

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the government maintained the budget deficit below the euro-zone threshold of 3% of GDP for a second year in a row. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

 

Company summary

 

Business number                                             448601046

Branche Unit Number                                       2059607136

Company name                                                SMOLENSK DIAMONDS NV

Address                                                           HOVENIERSSTRAAT 53-BUS 105

2018 ANTWERP

Number of staff                                                6

Date of establishment                                       09/11/1992

Telephone number                                           032319808

Fax number                                                      032327779

 

 

Ultimate holding company

 

Company name Company                                  Number

Smolensk Diamonds NV                                    448601046

 

 

Commentary

 

The business was established over 22 years ago.

The business has 6 employees.

The business is part of a group.

This business has a foreign parent business.

The business has been at the address for over 12 years.

Operating Result in the latest trading period decreased 58% on the previous trading period.

Pre-tax profits increased by 2463% compared to the previous trading period.

The business saw an increase in their Cash Balance of 36% during the latest trading period.

Turnover in the latest trading period decreased 27% on the previous trading period.

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2013

138,616,135

114,742

826,875

6,692,599

31/12/2012

190,518,752

4,477

803,897

6,910,251

31/12/2011

165,730,882

402,005

696,021

37,198,360

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2013

72,366,575

6

240,264

176,256

31/12/2012

76,629,742

6

240,264

249,200

31/12/2011

87,220,467

3

240,264

375,186

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

146.34

Industry  average  payment

126.58

Industry  average  day  sales

185.59

expectation  days

 

outstanding

 

Day  sales  outstanding

7.11

 

 

 

Court data summary

BANKRUPTCY DETAILS

Court action type                                              no

PROTESTED BILLS

Bill amount -

NSSO DETAILS

Date of summons                                             -

 

 

Company information

 

Business  number

448601046

Company  name

SMOLENSK  DIAMONDS  NV

Fax  number

032327779

Date  founded

09/11/1992

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

Wholesale  of  diamonds  and other  precious  stones

VAT  Number

BE.0448.601.046  Check  VAT number

Belgian  Bullettin  of  Acts Publications

moniteur  belge

 

 

 

Contractor  details

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

 

Personnel  (NSSO  classification)

Code

-

Description

-

 

 

Joint  Industrial  Committee  (JIC)

JIC  Code

218

Description

Additional  national  joint  committee  for  the  employees

category

 

 

 

JIC  Code

324

Description

Joint  committee  for  the  industry  and  the  trade  in  diamant

category

 

 

 

Significant  Events

 

Event  Date

02/05/2013

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar  02-05-2013:  Herbenoemd  als  bestuurder  tot  na  de  jaarvergadering  van  2018:  Cohen

 

Raymond  (tevens  als  gedelegeerd  bestuurder),  Afanasyev  Nikolay  en  Abramov  Viacheslav.

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

%

31-12-2009

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

1,755,891

-6.63

1,880,513

3.55

1,816,104

48.43

1,223,553

-3.96

1,273,944

Intangible  fixed  assets

5,290

6950

75

-89.50

715

-51.55

1,475

-34.02

2,236

Tangible  fixed  assets

1,737,229

-6.95

1,867,063

3.59

1,802,414

49.10

1,208,845

-3.37

1,251,064

Land  &  building

1,101,477

-2.26

1,126,931

-22.03

1,445,406

47.79

978,004

-2.94

1,007,675

Plant  &  machinery

595,500

-13.81

690,904

118

316,341

47.10

215,051

-4.77

225,825

Furniture  &  Vehicles

40,251

-18.24

49,228

21.05

40,667

157

15,791

-10.10

17,565

Leasing  &  Other  Similar  Rights

-

-

-

-

-

-

-

-

-

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

13,372

-0.02

13,374

3.08

12,974

-1.95

13,232

-35.90

20,644

Total  current  assets

70,610,684

-5.54

74,749,229

-12.48

85,404,363

298

21,419,414

-29.15

30,233,103

Inventories

65,497,530

-6.34

69,931,187

-15.68

82,933,841

715

10,164,386

-27.08

13,938,369

Raw  materials  &  consumables

-

-

-

-

-

-

-

-

-

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

65,497,530

-6.34

69,931,187

-15.68

82,933,841

715

10,164,386

-27.08

13,938,369

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

2,700,619

-10.41

3,014,521

40.52

2,145,285

-76.77

9,233,516

-40.76

15,585,629

Other  amounts  receivable

18,234

12.61

16,192

-48.88

31,678

54.31

20,529

-27.52

28,322

Cash

2,375,717

36.46

1,740,947

660

228,810

-88.35

1,963,441

199

656,276

Miscellaneous  current  assets

18,584

-59.93

46,382

-28.37

64,749

72.48

37,541

53.19

24,506

Total  Assets

72,366,575

-5.56

76,629,742

-12.14

87,220,467

285

22,642,967

-28.13

31,507,047

 

 

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

832,164

3.51

803,972

15.39

696,736

44.28

482,892

290

123,727

Issued  share  capital

240,264

0

240,264

0

240,264

0

240,264

0

240,264

Share  premium  account

-

-

-

-

-

-

-

-

-

Revaluation  reserve

-

-

-

-

-

-

-

-

-

Reserves

591,901

5.00

563,709

23.49

456,472

88.14

242,628

208

-116,537

Provisions  for  Liabilities  &  Charges

0

-

0

-

0

-

0

-

0

Deffered  taxes

-

-

-

-

-

-

-

-

-

Creditors

71,534,410

-5.66

75,825,769

-12.36

86,523,731

290

22,160,075

-29.39

31,383,320

Other  long  term  loans

7,616,325

-4.64

7,986,792

-79.16

38,317,728

380

7,969,576

4.84

7,601,439

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

7,616,325

-4.64

7,986,792

-79.16

38,317,728

380

7,969,576

4.84

7,601,439

Current  portion  of  long  term  debt

42,369

5.57

40,133

5.77

37,945

5.37

36,012

-26.93

49,282

Financial  debts

8,157,494

2590

303,168

-67.31

927,429

-

-

-

-

Trade  creditors

55,466,226

-17.55

67,275,667

43.93

46,740,368

234

13,991,356

-40.78

23,624,912

Amounts  Payable  for  Taxes,

149,006

-17.51

180,644

-6.00

192,170

253

54,290

46.19

37,136

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

102,989

161

39,366

-87.22

308,092

183

108,839

54.27

70,550

Total  current  liabilities

63,918,085

-5.78

67,838,978

40.73

48,206,003

239

14,190,498

-40.33

23,781,881

Total  Liabilities

72,366,575

-5.56

76,629,742

-12.14

87,220,467

285

22,642,967

-28.13

31,507,047

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.08

-

0.00

-100

0.24

-40.0

0.40

47.06

-0.85

Return  on  capital  employed

1.36

2620

0.05

-95.15

1.03

-81.34

5.52

88.46

-6.24

Return  on  total  assets  employed

0.16

1500

0.01

-97.83

0.46

-77.67

2.06

134

-1.53

Return  on  net  assets  employed

13.79

2362

0.56

-99

57.70

-40.26

96.59

24.81

-389.30

Sales  /  net  working  capital

20.71

-24.88

27.57

518

4.46

-72.64

16.30

84.81

8.82

Stock  turnover  ratio

47.25

28.71

36.71

-26.64

50.04

480

8.62

-64.82

24.50

Creditor  days

146.34

13.14

129.34

25.09

103.40

138

43.39

-71.34

151.38

Debtor  days

7.11

23.01

5.78

22.46

4.72

-83.50

28.60

-71.40

100.00

 

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

 

Current  ratio

1.10

0

1.10

-37.85

1.77

17.22

1.51

18.90

1.27

Liquidity  ratio  /  acid  ratio

0.08

14.29

0.07

40.0

0.05

-93.67

0.79

14.49

0.69

Current  debt  ratio

76.81

-8.97

84.38

21.95

69.19

135

29.39

-84.71

192.21

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

176,256

-29.27

249,200

-33.58

375,186

-30.09

536,641

143

-374,703

Net  worth

826,875

2.86

803,897

15.50

696,021

44.58

481,417

296

121,491

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

1,900.61

83.44

1,036.12

-81.62

5,638.16

240

1,657.84

-73.19

6,183.56

Equity  in  percentage

1.15

9.52

1.05

31.25

0.80

-62.44

2.13

446

0.39

Total  debt  ratio

85.96

-8.85

94.31

-24.05

124.18

170

45.89

-81.91

253.65

Working  capital

6,692,599

-3.15

6,910,251

-81.42

37,198,360

414

7,228,915

12.05

6,451,222

 

 

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

138,624,855

-27.24

190,523,463

14.95

165,747,924

40.60

117,889,663

107

56,911,902

Turnover

138,616,135

-27.24

190,518,752

14.96

165,730,882

40.63

117,852,267

107

56,889,402

Total  operating  expenses

138,341,794

-27.13

189,859,113

15.07

164,995,115

40.18

117,700,137

106

56,961,808

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

138,350,514

-27.13

189,863,824

15.06

165,012,157

40.15

117,737,533

106

56,984,308

Employee  costs

492,730

4.36

472,150

55.44

303,749

58.70

191,398

10.46

173,279

Wages  and  salary

375,139

7.02

350,535

55.96

224,762

60.36

140,160

2.01

137,402

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

103,135

13.51

90,856

60.86

56,483

56.86

36,008

11.85

32,193

Other  employee  costs

14,456

-53.00

30,759

36.68

22,505

47.76

15,231

313

3,684

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and

133,058

13.77

116,955

35.85

86,092

11.17

77,439

3.69

74,683

depreciation

 

 

 

 

 

 

 

 

 

Operating  result

274,341

-58.41

659,639

-10.35

735,767

383

152,130

210

-72,406

Total  financial  income

1,120

-2.36

1,147

298

288

-99

737,051

104

359,875

Total  financial  expenses

160,719

-75.51

656,309

96.47

334,050

-20.98

422,742

-45.04

769,139

Results  on  ordinary

114,742

2463

4,477

-98.89

402,005

-13.81

466,439

96.84

-481,671

operations  before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

1,486

-99

206,979

5088

3,989

-56.52

9,175

-82.41

52,165

Extraordinary  Charges

-

-

-

-

-

-

7,412

-33.67

11,174

Extraordinary  items

1,486

-99

206,979

5088

3,989

126

1,763

-95.70

40,992

Results  for  the  Year  Before Taxation

116,228

-45.03

211,456

-47.92

405,994

-13.29

468,202

106

-440,679

Other appropriations

-

-

-

-

-

-

-

-

-

Taxation

73,031

-7.80

79,210

-32.24

116,900

1198

9,001

3.38

8,706

Results  on  ordinary operations  after  taxation

41,711

55.81

-74,734

-126

285,105

-37.67

457,438

93.28

-490,377

 

 

 

 

 

 

 

 

 

 

Net  result

43,197

-67.34

132,246

-54.26

289,094

-37.04

459,202

102

-449,385

 

 

 

 

 

 

 

 

 

 

Profit  (Loss)  for  the  Year  to be  appropiated

43,197

-67.34

132,246

-54.26

289,094

-37.04

459,202

102

-449,385

 

 

 

 

 

 

 

 

 

 

Dividends

15,005

-40.00

25,009

-66.77

75,250

-24.78

100,037

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

 

 

Social  Balance  Sheet

 

Total

 

During  the  reporting  year

 

 

 

ended  31-12-2013

 

 

 

Full-time  Employees

 

6

 

Part-time  Employees

 

1

 

Total  Fte  Employees

 

6

 

 

 

 

 

Number  of  hours  worked

 

 

 

Full-time  Employees

 

10,070

 

Part-time  Employees

 

391

 

Total

 

10,461

 

 

 

 

 

Personnel  Charges

 

 

 

Full-time  Employees

 

474,305

 

Part-time  Employees

 

18,426

 

Total

 

492,730

 

 

 

 

 

Benefits  In  Addition  To  Wages

 

-

 

During  the  previous  reporting  year

 

 

 

Average  number  employees  in  Fte

 

6

 

Actual  working  hours

 

9,597

 

Personnel  Charges

 

472,150

 

Benefits  In  Addition  To  Wages

 

-

 

 

 

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

5

2

6

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

 

 

 

 

Gender  and  Education Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

2

-

2

Secondairy  education

-

-

-

Higher  education  (non

1

-

1

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

1

1

Secondairy  education

2

1

3

Higher  education  (non

-

-

-

university)

 

 

 

Higher  education

-

-

-

(university)

 

 

 

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

4

2

5

Blue  collar  worker

1

-

1

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

1

1

2

Leavers

1

1

1

 

 

Total  of  formal  continuing  vocational  training  initiatives

 

 

for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  less  formal  and  informal  continuing  vocational

 

 

training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

Total  of  initial  training  initiatives  at  the  expense  of  the

 

 

employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

 

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

industry  average  credit

64.48

rating

 

Industry  average  credit  limit

140177.31

 

 

Payment  Information

 

Suspension  of  payments  /  moratorium  history

 

Amount

-

Details

-

Payment  expectations

 

Payment  expectation  days

146.34

Day  sales  outstanding

7.11

Industry  comparison

 

Activity  code

46761

Activity  description

Wholesale  of  diamonds  and  other  precious  stones

Industry  average  payment

126.58

expectation  days

 

Industry  average  day  sales

185.59

outstanding

 

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

146.34

Lower

120.44

Median

74.61

Upper

45.88

 

 

Day  sales  outstanding

 

Company  result

7.11

Lower

101.92

Median

54.07

Upper

24.18

 

 

Shareholder  Details

 

Group  -  Number  of  Companies

4

Linkages  -  Number  of  Companies

2

Number  of  Countries

2

 

Group  Structure

 

Company  name

Number

Latest

 

 

financials

- SMOLENSK  DIAMONDS  NV

448601046

31-12-2013

- - UBM  DIAMOND  NV

452844993

31-12-2012

- - SMOLENSK  DIAMONDS  ISRAEL

 

 

- - SMOLENSK  DIAMONDS  USA

 

 

 

Minority  Interests

 

No  minority  interests  found

 

Companies  that  match  this  address

 

no  Companies  Match  this  address

 

 

Linked  Companies

 

Summary

 

Group  -  Number  of  Companies

4

Linkages  -  Number  of  Companies

2

Number  of  Countries

2

 

NAME

NUMBER

LATEST  KEY

TURNOVER

 

 

FINANCIALS

 

 

 

 

 

TACHÉ  COMPANY  NV

404991430

31.12.2013

€213.476.038

TACHÉ  ENTERPRISES  CVA

861945958

31.12.2013

-

 

 

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

 

 

Director  details

 

Current  director  details

 

Name

RAYMOND  COHEN

Position

Managing  Director

Start  Date

03/08/2010

Street

9 MEZENLAAN  ANTWERP

Post  code

2610

Country

Belgium

 

 

Position

Director

Start  Date

01/07/2002

Street

9 MEZENLAAN  ANTWERP

Post  code

2610

Country

Belgium

 

 

Name

VIACHESLAV  ABRAMOV

Position

Director

Start  Date

01/07/2011

Street

6 APT.16,6,  TRETYA  LINIA  KRASNOARMEISKOY  SLOBODY

Post  code

214000

Country

Russia

 

 

Name

NIKOLAY  AFANASYEV

Position

Director

Start  Date

03/08/2010

Street

9 2-AYA  LINIYA  KRASNOARMEISKOY  SLOBODY

Post  code

214014

Country

Russia

 

 

Former  director  details

 

Country

Russia

Position

Chairman  of  the  Board

Start  Date

14/12/2006

End  Date

31/05/2007

Street

9 MEZENLAAN  ANTWERP

Post  code

2610

Country

Belgium

 

 

Name

PEGGY  MARIE-LOUISE  JACOBA  SUIJKERBUIJK

Position

Director

Start  Date

14/11/2006

End  Date

Unknown  date

Street

39 HUZARENBERG  STABROEK

Post  code

2940

Country

Belgium

 

 

Name

BART  FILIP  GERARD  MEYNENDONCKX

Position

Commissioner

Start  Date

04/06/1999

End  Date

Unknown  date

Date  of  birth

31/08/1957

Street

40 BREDEHEIDE  SINT-KATELIJNE-WAVER

Post  code

2860

Country

Belgium

 

 

Name

VLADIMIR  DANILOV

Position

Managing  Director

Start  Date

04/06/1999

End  Date

Unknown  date

Street

61 SCHALIENHOEFDREEF  SCHOTEN

Post  code

2900

Country

Belgium

 

 

Name

SOUREN  AKOPOV

Position

Managing  Director

Start  Date

27/10/1994

End  Date

Unknown  date

Street

17 KASTANJELAAN  KAPELLEN

Post  code

2950

Country

Belgium

 

 

Name

MAXIM  SHKADOV

Position

Chairman  of  the  Board

Start  Date

01/06/2007

End  Date

30/06/2011

Street

1 MIRA  ULITSA

Post  code

14014

Country

Russia

 

 

Position

Director

Start  Date

01/07/2002

End  Date

30/06/2011

Street

1 MIRA  ULITSA

Post  code

14014

Country

Russia

 

 

Name

YOURI  REBRIK

Position

Director

Start  Date

11/12/1996

End  Date

Unknown  date

Street

PODDULBNOGO  STREET

Post code

 

Country

 

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.64.09

UK Pound

1

Rs.99.57

Euro

1

Rs.71.84

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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.