MIRA INFORM REPORT

 

 

Report No. :

312478

Report Date :

23.03.2015

 

IDENTIFICATION DETAILS

 

Name :

EVERPIA VIETNAM JSC

 

 

Registered Office :

Duong Xa Commune, Gia Lam, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

2014

 

 

Date of Incorporation :

27.04.2007

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Manufacturer of Textiles & Raw Material.

 

 

No. of Employees :

1,100

 

 

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 :

Slow but correct

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)

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

:

EVERPIA VIETNAM JSC

Address

:

Duong Xa Commune, Gia Lam, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-38276490

Facsimile

:

[+84] 4-38276492

Email

:

info@everpia.vn

Website

:

http://www.everpia.vn/

Primary Business Activity

:

Manufacturer

Key Industry

:

Textiles & Raw Material

 

Key Facts

Registered Legal Address

:

Duong Xa Commune, Gia Lam, Hanoi

Operational Address

:

Duong Xa Commune, Gia Lam, Hanoi

Issuing Authority

:

People's Committee - Hanoi

License Number

:

011033000055

License Status

:

License exists - Normal.

Legal Form - Category

:

Public Listed Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

27 Apr, 2007

Employees

:

1,100

Capital

:

US$ 23,827,678

PREVIOUS BUSINESS LICENSE/S

:

License Date

License No.

4 Sep, 2003

195/GP-HN

 

Report Details

 

 

Country

:

Vietnam

Business Entity Name

:

EVERPIA VIETNAM JSC

Primary Business Activity

:

Manufacturer

Primary Industry

:

Textiles & Raw Material

Office Contact Details

Operating Address

:

Duong Xa Commune, Gia Lam, Hanoi

Tel

:

[+84] 4-38276490

Fax

:

[+84] 4-38276492

 

:

[+84] 4-36782030

Email

:

info@everpia.vn

Factory Contact Details

Address

:

Tan Quang, Van Lam, Hung Yen

Tel

:

[+84] 321-3791777

Fax

:

[+84] 321-3791999

Website Details

Website

:

http://www.everpia.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

:

0101402121

 

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chief Executive Officer - CEO

Name

:

Mr. Jae-Eun Lee

Nationality

:

Korean

 

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Yong-Hwan Cho

Korean

Deputy Managing Director

-

2

Mr. Jae-Eun Lee

Korean

Managing Director

-

Management Details - 1

Personal Unique Identifier

:

MI03837898

Name

:

Mr. Yong-Hwan Cho

 

Date of Birth

:

1966

Management Details - 2

Personal Unique Identifier

:

MI03837873

Name

:

Mr. Jae-Eun Lee

 

Date of Birth

:

1964

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03837873

Name

:

Mr. Jae-Eun Lee

Date of Birth

:

1964

 

 

NEGATIVE INFORMATION

 

 

REPUTATION

 

Reference checking for the purpose of establishing EVERPIA VIETNAM 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 (Currency: VND - Vietnam Dong)

Authorized Capital

:

₫ 500,000,000,000

Paid-up Capital

:

₫ 279,865,180,000

 

 

SHAREHOLDERS

 

Total number of shareholders

:

Public shareholding traded via Stock Exchange

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

Public shareholding traded via Stock Exchange

n/a

n/a

235,142,724,236

84.02

2

Mr. Jae-Eun Lee

Korea, South (Republic of Korea)

n/a

44,722,455,764

15.98

Total

n/a

279,865,180,000

100.00

 

 

PAYMENT INFORMATION

Na

GROUP STRUCTURE & AFFILIATED COMPANIES

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

The following provides a summary of the number of businesses that are related to EVERPIA VIETNAM JSC:

TYPE

DOMESTIC

INTERNATIONAL

TOTAL

Africa

Asia / Pacific

Europe

Middle-East

North America

South America

TOTAL

Subsidiaries

1

-

1

-

-

-

-

1

Joint-Ventures

-

-

-

-

-

-

-

-

Minority shareholdings

-

-

-

-

-

-

-

-

Affiliates

-

-

-

-

-

-

-

-

Liaison / Representative Offices

-

-

-

-

-

-

-

-

 

 

Domestic

Business Entity Name

:

MATTPIA VIETNAM JSC

Global Identifier

:

P3215671

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

Tan Quang, Van Lam Dist, Hung Yen, Hung Yen

Primary Business Activity

:

Trader

Industry

:

Textiles & Raw Material

International

Business Entity Name

:

EVERPIA (CAMBODIA) CO LTD

Global Identifier

:

P2589613

Country

:

Cambodia

Relationship

:

Subsidiary

Operational Address

:

394 St 360 Cnr Preah Monivong Blvd Sangkat Boeung Keng Kang1, Khan Chamcarmorn, Phnom Penh

Primary Business Activity

:

Trader

Industry

:

Textiles & Raw Material

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2012 Annual  

32,690,668

43,184,499

3,580,545

2013 Annual  

35,688,244

42,061,112

4,028,671

2014 2nd Qtr  

14,734,194

48,506,231

1,414,912

 

Sales Trend – Analysis

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

-

-

-

-

-

-

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

-

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2010 Annual

28,937,455

34,349,820

5,244,690

2011 Annual

38,380,509

40,791,359

7,238,262

 

 

 

FINANCIAL STATEMENT - DETAILED

 

Type: Consolidated

 

Balance Sheet

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2012 Annual

2013 Annual

2014 2nd Qtr

Current Assets(*)

588,488,692,218

593,967,907,207

738,954,667,712

Non Current Assets(*)

310,813,813,905

293,020,598,883

286,641,688,349

Non Current Liabilities(*)

16,887,020,918

14,316,731,027

13,922,543,118

Other long term assets 

Total Assets(*)

899,302,506,123

886,988,506,090

1,025,596,356,061

Total Liabilities(*)

177,267,246,030

108,966,147,483

220,788,519,639

Current Liabilities(*)

160,380,225,112

94,649,416,456

206,865,976,521

Current Assets

588,488,692,218

593,967,907,207

738,954,667,712

Cash and cash equivalents

107,330,448,733

51,350,127,079

130,996,709,334

Cash

17,382,948,702

14,754,381,616

23,719,709,334

Cash equivalents

89,947,500,031

36,595,745,463

107,277,000,000

Short-term financial investments

75,903,746,164

105,858,839,889

51,837,000,000

Short-term receivables

96,644,762,367

124,033,760,783

169,708,191,351

Trade accounts receivable

74,750,059,046

115,960,859,621

153,005,176,327

Advances to suppliers

23,996,566,766

11,442,644,376

19,891,458,232

Other receivables

3,762,111,998

2,707,245,475

3,791,281,264

Provision for short-term doubtful debts

(5,863,975,443)

(6,076,988,689)

(6,979,724,472)

Inventories

292,415,175,565

297,338,629,707

364,271,079,571

I. Other short-term assets

16,194,559,389

15,386,549,749

22,141,687,456

Short-term prepayments

3,435,016,139

2,311,288,608

2,778,878,242

VAT deductibles

8,552,946,042

11,687,366,607

16,363,974,712

Taxes and other receivables from the State budget

150,000,000

150,000,000

200,681,271

II. Other short-term assets

4,056,597,208

1,237,894,534

2,798,153,231

Non-Current Assets

310,813,813,905

293,020,598,883

286,641,688,349

Fixed assets

293,024,353,042

274,868,721,212

268,500,185,040

Tangible fixed assets

272,381,084,342

250,736,009,032

245,520,181,096

I. Cost

405,047,888,625

407,449,034,689

414,328,043,127

I. Accumulated depreciation

(132,666,804,283)

(156,713,025,657)

(168,807,862,031)

Fixed asset finance lease

-

-

111,664,144

II. Cost

-

-

113,556,756

II. Accumulated depreciation

-

-

(1,892,612)

Intangible fixed assets

18,833,892,336

16,887,712,180

15,623,339,800

III. Cost

37,465,687,876

38,048,647,876

38,048,647,876

Accumulated amortisation

(18,631,795,540)

(21,160,935,696)

(22,425,308,076)

Construction in progress

1,809,376,364

7,245,000,000

7,245,000,000

Long-term financial investments

1,397,200,000

2,638,200,000

2,638,200,000

Other long-term investments

1,397,200,000

2,638,200,000

2,638,200,000

I. Other long-term assets

16,392,260,863

15,513,677,671

15,503,303,309

Long-term prepayments

15,475,489,271

14,266,301,313

14,682,784,398

II. Other long-term assets

916,771,592

1,247,376,358

820,518,911

Total Assets

899,302,506,123

886,988,506,090

1,025,596,356,061

Liabilities

177,267,246,030

108,966,147,483

220,788,519,639

Current liabilities

160,380,225,112

94,649,416,456

206,865,976,521

Short-term loans and liabilities

38,882,404,665

1,311,440,000

116,816,940,677

Trade accounts payable

45,891,110,386

45,627,379,899

48,635,258,988

Advances from customers

4,426,974,747

2,963,363,219

6,125,231,348

Taxes and amounts payable to the State budget

38,148,468,096

29,456,478,013

21,402,809,743

Payables to employees

6,411,151,367

8,242,182,443

8,270,499,909

Accrued expenses

1,438,135,032

2,149,275,855

505,819,984

Other current payables

25,181,980,819

4,899,297,027

5,109,415,872

Long-term liabilities

16,887,020,918

14,316,731,027

13,922,543,118

Other long-term payables

321,868,000

821,868,000

2,801,471,536

Other long-term Provision

2,165,152,918

2,484,603,536

-

Borrowings and long-term debt

-

-

110,812,091

Scientific and technological development fund

14,400,000,000

11,010,259,491

11,010,259,491

Equity

720,986,771,177

777,271,965,443

804,074,815,217

Shareholders' equity

720,986,771,177

777,271,965,443

804,074,815,217

Charter capital

279,865,180,000

279,865,180,000

279,865,180,000

Share premium

191,000,000,000

191,000,000,000

191,000,000,000

Treasury shares

(10,491,434,356)

(10,491,434,356)

(10,491,434,356)

Other shareholders' funds

9,010,799,401

11,033,838,777

7,790,783,911

Retained earnings

-

32,749,178

86,317,436

Profit after tax distribution

251,602,226,132

305,831,631,844

335,823,968,226

Minority Interests

1,048,488,916

750,393,164

733,021,205

Total Resources

899,302,506,123

886,988,506,090

1,025,596,356,061

 

Note: (*)

 

Financial Highlights

 

Income Statement

 

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

 

Financial Highlights

2012 Annual

2013 Annual

2014 2nd Qtr

Turnover(*)

680,772,052,866

752,596,898,265

311,533,898,978

Profit (Loss) Before Tax(*)

96,081,163,407

116,359,232,573

39,360,385,068

Profit After Tax attributable to Shareholders(*)

74,563,632,880

84,956,979,214

29,916,342,003

Gross revenue from goods sold

680,772,052,866

752,596,898,265

311,533,898,978

Deductions

343,682,356

2,094,168,369

(604,019,646)

Net revenue from goods sold

680,428,370,510

750,502,729,896

310,929,879,332

Cost of goods sold

446,812,449,682

474,281,220,963

(200,829,102,302)

Gross profit from goods sold

233,615,920,828

276,221,508,933

100,100,777,030

Financial income

13,451,855,764

10,358,555,465

6,123,353,981

Financial expenses

4,801,646,648

4,841,580,094

(1,872,590,000)

In which: Interest expense

2,657,416,827

1,716,445,439

(698,549,436)

Selling expenses

70,410,422,994

80,686,627,259

(32,491,577,215)

General and administration expenses

78,015,578,430

86,576,596,525

(42,746,200,322)

Operating profit

93,840,128,520

114,475,260,520

39,113,763,174

Other income

3,009,590,459

3,046,540,013

696,698,634

Other expenses

768,555,572

1,162,567,960

(450,076,740)

Profit from other activities

2,241,034,887

1,883,972,053

246,621,894

Accounting profit before tax

96,081,163,407

116,359,232,573

39,360,385,068

Current corporate income tax expense

21,517,530,527

31,402,253,359

(9,444,043,065)

Net profit after corporate income tax

74,563,632,880

84,956,979,214

29,916,342,003

Minority interests

(162,043,090)

(297,581,191)

(17,371,959)

Profit after corporate income tax attributable to shareholders of the Company

74,725,675,970

85,254,560,405

29,933,713,962

Basic earnings per share

3,048

3,099

1,088

 

Note: (*)

 

Financial Highlights

 

Financial Ratios

 

Financial Highlights

2012 Annual

2013 Annual

2014 2nd Qtr

Growth % 

Year-on-Year Growth

(14.85)

10.55

-

Profitability 

Profit Margin (%)

10.95

11.29

9.60

Return on Assets (%)

8.29

9.58

2.92

Asset Management 

Total Assets Turnover (Times)

0.76

0.85

0.30

Fixed Assets Turnover (Times)

2.19

2.57

1.09

Liquidity 

Current Ratio

3.67

6.28

3.57

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000048 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Primary Products

Products / Materials / Services Description

Activity

Beddings

Manufacturing

Bedsprings

Manufacturing

Blankets

Manufacturing

Comforters

Manufacturing

Mattresses

Manufacturing

 

 

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Household furniture, NEC

2519

Importing, Trading

Mattresses and bedsprings

2515

Manufacturing

 

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Blankets (other than electric blankets) and traveling rugs, of cotton

6301300000

Manufacturing

Blankets and traveling rugs

6301

Manufacturing

Furniture; bedding, cushions; lamps & lighting fittings nesoi; illuminated signs, nameplates & the like, prefabricated buildings

9400

Manufacturing

Mattress supports; articles of bedding and similar furnishing

9404909560

Manufacturing

Mattress supports; articles of bedding etc

9404

Manufacturing

Pneumatic mattresses: of cotton

6306410000

Manufacturing

Quilts, eiderdowns & comforters,outer shell of oth text materl,nesoi

9404909036

Manufacturing

Quilts, eiderdowns and comforters of cotton

9404909010

Manufacturing

Quilts, eiderdowns and comforters of other textile materials

9404909030

Manufacturing

Quilts, eiderdowns, comforters and similar articles

9404908010

Manufacturing

 

 

\

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

Products / Materials / Services Description

Ranking

Activity

Beds

Secondary

Importing, Trading

 

 

CORE BUSINESS DESCRIPTION

 

Core Business

 

The primary business focus of EVERPIA VIETNAM JSC is Manufacturing - Finished products.

Key products include :

Beddings

Bedsprings

Blankets

Comforters

Mattresses
An integral part of the core business includes:

Distribution

 

Supplementary Business

In addition to the core business, EVERPIA VIETNAM JSC also is engaged in the following areas of business:

Importing

Importing - Raw materials

Trading

Trading - Finished products

 

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

 

 

 

Annual Purchases Analysis

Percentage

Local Purchases

40%

Imports

60%

 

 

 

STOCK EXCHANGE LISTING DETAILS

 

Country

:

Vietnam

Name of Stock Exchange

:

Name

Acronym

HOCHIMINH STOCK EXCHANGE

HOSE

Stock Symbol / No.

:

EVE

Date of listing

:

Dec, 2010

 

 

BRANDS & TRADEMARKS

Brands & Trademarks

Application Category

ARTEMIS

n/a

DEXFIL

n/a

EDELIN

n/a

EVERON

n/a

EVERON FURNITURE

n/a

 

 

BANK DETAILS

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

31-33 Ngo Quyen Hanoi (Head Office)

SWIFT Code

:

BFTVVNVX

Bank Name

:

SHINHAN BANK

Global Identifier

:

32406827

Branch

:

District 1,Ho Chi Minh

Branch Address

:

7Fl YOCO Office Bldg 41 Nguyen Thi Minh Khai St District 1 Ho Chi Minh (Head Office)

SWIFT Code

:

SHBKVNVX

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

EVERPIA VIETNAM JSC - DISTRICT 5, HO CHI MINH

Branch Address

:

85 An Duong Vuong Ward 8, District 5, Ho Chi Minh

Branch Tel

:

84-8-62612078

Branch Fax

:

84-8-62611514

Branch

:

EVERPIA VIETNAM JSC - HAI CHAU DIST, DA NANG

Branch Address

:

379-381 Ong Ich Khiem Hai Chau 2 Ward, Hai Chau Dist, Da Nang

Branch Tel

:

84-511-3815579

Branch Fax

:

84-511-3815679

 

 

INTERNATIONAL TRADE - Activity & Markets

 

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

North America

Medium

Importing

China

Medium

Importing

Korea, South (Republic of Korea)

Medium

Importing

USA

Medium

Importing

 

 

OVERSEAS SUPPLIERS

 

Business Entity Name

Global Identifier

Country

INVISTA SARL

P0772796

USA

 

 

 

OFFICE & FACILITIES

 

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

 

Name

:

EVERPIA VIETNAM JSC - GIA LAM, HANOI

Primary Use

:

Office & Administration facilities

Other Use

:

This facility is also used for Manufacturing

Address

:

Duong Xa Commune, Gia Lam, Hanoi

Country

:

Vietnam

Status

:

Operational

 

 

FACTORIES, SIZE, & LOCATIONS

 

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

 

Name

:

EVERPIA VIETNAM JSC - VAN LAM, HUNG YEN

Address

:

Tan Quang, Van Lam, Hung Yen

Status

:

Operational

Name

:

EVERPIA VIETNAM JSC - BIEN HOA, DONG NAI

Address

:

Industrial Zone Rd 4 Bien Hoa 1, Bien Hoa, Dong Nai

Status

:

Operational

 

 

 

 

COMPANY HISTORY

 

Date

Details

2012 - Dec

Opening of Hung Yen factory.

2013 - May

Opening in Da Nang branch.

2013 - Sep

Opening in Hoa Binh branch.

 

 

RANKING

 

Type

Coverage

Ranking Detail

Corporate Ranking

Domestic

Top 500 companies in Vietnam - Based on Turnover in 2012

Industry Ranking

Domestic

Top 50 companies within this industry sector in Vietnam in 2012

 

 

 

AWARDS

 

 

#

Award Name

Awarded by

Awarded Date

1

Golden cup in economic integration

n/a

2008

2

National Famous Trademark

n/a

2010

3

Golden Trademark

n/a

2012

4

Logo & Slogan Impressive

n/a

2012

 

 

QUALITY ACCREDITATION

 

Quality Accreditation Listings

 

#

Name

Accreditation Category

1

INTERNATIONAL STANDARDS ORGANIZATION (ISO)

9001:2008

 

 

 

NOTES & COMMENTS

 

Na

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.49

UK Pound

1

Rs.92.26

Euro

1

Rs.66.80

 

 

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.