MIRA INFORM REPORT

Report No. :	320316
Report Date :	06.05.2015

IDENTIFICATION DETAILS

Name :	GENERAL PLASTIC INDUSTRIES

Registered Office :	Hati Muda Marg

Country :	Nepal

Date of Incorporation :	07.02.2003

Legal Form :	Proprietary Concern

Line of Business :	Manufacturer of Pet Jar, PVC cealing flim, Sinotech Pollymers.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	No Complaints

Litigation :	Clear

NOTES:

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ECGC Country Risk Classification List – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Nepal

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

NEPAL - ECONOMIC OVERVIEW

Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Nepal is heavily dependent on remittances, which amount to as much as 22-25% of GDP. Agriculture is the mainstay of the economy, providing a livelihood for more than 70% of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of commercially feasible capacity, but political uncertainty and a difficult business climate have hampered foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, persistent power shortages, underdeveloped transportation infrastructure, civil strife and labor unrest, and its susceptibility to natural disaster. The lack of political consensus in the past several years has delayed national budgets and prevented much-needed economic reform, although the government passed a full budget in 2013 and 2014. Nepal and India signed trade and investment agreements in 2014 that will amp up Nepal’s hydropower potential.

Source : CIA

Company name and address

GENERAL PLASTIC INDUSTRIES

Address                        :          Hati Muda Marg
Country                         :          Nepal
Phone                         :          977-21-420653

History

It is a Proprietary Concern.

Proprietor

1. MR. DEV AGARWAL

PAN No.

301326407

Year Establish

07.02.2003

Bankers

1. Nepal Bank Ltd., Kathmandu (Nepal)

Business

Manufacturer Pet Jar, PVC cealing flim, Sinotech Pollymers.

Financial

Capital Nepal Rupees 4 Cores

Turnover 7.5 Cores

Remarks

Payments are reported to be correct and regular as per commitments. Trade relations are fair. Consider good for medium basis. Business may be done on merit.

Information denied

Unable to contact the company

97721526972 (Constantly Ringing)

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.52
UK Pound	1	Rs.95.96
Euro	1	Rs.70.54

INFORMATION DETAILS

Information Gathered by :	DIP

Analysis Done by :	DIV

Report Prepared by :	VNT

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%)

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