MIRA INFORM REPORT

 

 

Report No. :

351937

Report Date :

30.11.2015

 

IDENTIFICATION DETAILS

 

Name :

HOLLAND COLOURS EUROPE B.V.

 

 

Registered Office :

Halvemaanweg 1, 7323, RW Apeldoorn

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

30.03.1979

 

 

Com. Reg. No.:

08034922

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacture of Dyes and Pigments

 

 

No. of Employees :

129 [2015]

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

NETHERLANDS - ECONOMIC OVERVIEW

 

The Netherlands, the sixth-largest economy in the European Union, plays an important role as a European transportation hub, with a persistently high trade surplus, stable industrial relations, and moderate unemployment. Industry focuses on food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for food-processing and underpins the country’s status as the world’s second largest agricultural exporter. The Netherlands is part of the Eurozone, and as such, its monetary policy is controlled by the European Central Bank. The Dutch financial sector is highly concentrated, with four commercial banks possessing over 90% of banking assets. The sector suffered as a result of the global financial crisis and required billions of dollars of government support, but the European Banking Authority completed stringent reviews in 2014 and deemed Dutch banks to be well-capitalized. To address the 2009 and 2010 economic downturns, the government sought to stimulate the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credits. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE has since implemented significant austerity measures to improve public finances and has instituted broad structural reforms in key policy areas, including the labor market, the housing sector, the energy market, and the pension system. As a result, the government budget deficit at the end of 2014 dropped to 1.8% of GDP. Following a protracted recession during which unemployment doubled to 7.4% and household consumption contracted for nearly three consecutive years, the year 2014 saw fragile GDP growth of 0.8 percent and a rise in most economic indicators. Drivers of growth included increased exports and business investments, as well as newly invigorated household consumption.

 

Source : CIA


Summary

 

Company name                                    Holland Colours Europe B.V.

Operative address                                Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Legal form                                           Private Company

Registration number                            KvK-nummer: 08034922

VAT-number                                         004812153

 

Fixed  assets

17.934.000

6,67

16.813.000

-1,78

17.118.000

Total  receivables

15.434.000

19,98

12.864.000

-8,17

14.009.000

Total  equity

30.659.000

18,42

25.891.000

3,88

24.925.000

Short  term  liabilities

13.035.000

31,85

9.886.000

-8,40

10.793.000

Net  result

3.444.000

-2,60

3.536.000

21,01

2.922.000

Working  capital

15.476.000

13,91

13.586.000

4,63

12.985.000

Quick  ratio

1,59

-1,85

1,62

12,50

1,44

 

 

 

Contact information

 

Company name                        Holland Colours Europe B.V.

Trade names                            Holland Colours Europe B.V.

Operative address                    Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Correspondence address         Postbus 720

7300AS Apeldoorn

Netherlands

Telephone number                   0553663143

Fax number                              0553662981

Email address                          info@hollandcolours.com

Website                                    www.hollandcolours.com

Registration

 

Registration number                                        KvK-nummer: 08034922

Branch number                                                000017538122

VAT-number                                                     004812153

Status                                                              Active

First registration company register                  1979-03-30

Memorandum                                                   1979-03-30

Establishment date                                          1979-03-30

Legal form                                                       Private Company

Last proposed admendment                             2013-08-07

Issued placed capital                                       EUR 1.462.500

Paid up share capital                                       EUR 1.462.500

 

 

Activities

 

SBI                                                                   2012: Manufacture of dyes and pigments

Exporter                                                           No

Importer                                                           No

Goal                                                                 A. (do) produce and (do) the trade in chemical import and export products including; B. (do) providing advice in the field of management and / or engineering and / or organizational systems.

 

Relations

 

Shareholders                                                   Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Percentage: 100%

 

Companies on same address (number)            11

Liability statements                                          Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

date of issue: 1994-07-06

Starting date: 1994-01-01

 

 


Management

 

Active management                              M.G. Wielens - Kleinsman Maria Gezina

Netherlands

Competence: Limited authorization

Function: Manager

Starting date: 2014-11-01

Date of birth: 1963-10-24, Haaksbergen, NL

Involved with the following companies:

Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Function: Manager

Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Function: Manager

R. Harmsen Robert

Netherlands

Competence: Fully authorized

Function: General Director

Starting date: 2012-01-05

Date of birth: 1957-09-13, Arnhem, NL

Involved with the following companies:

Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Function: General Director

R.P. Karrenbeld Robert Paul

Netherlands

Competence: Fully authorized

Function: General Director

Starting date: 2007-07-01

Date of birth: 1973-07-17, Deventer, NL

Involved with the following companies:

Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Function: General Director

M.J. van Aartrijk - Strootman Maria Johanna

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2001-04-01

Date of birth: 1972-11-16, Enschede, NL

Involved with the following companies:

Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Function: Proxy

G.J. Luiten Gerrit Jan

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2011-11-01

Date of birth: 1962-05-26, Haarlemmermeer, NL

Involved with the following companies:

Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Function: Proxy

W.J. van Essen Willem Jan

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2011-11-01

Date of birth: 1977-05-10, Apeldoorn, NL

Involved with the following companies:

Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Function: Proxy

J.C. van Vliet Johannes Cornelis

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2013-10-19

Date of birth: 1957-10-30, Rotterdam, NL

Involved with the following companies:

Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

Function: Proxy

E. Gerritsen Eelco

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 1999-11-01

Date of birth: 1971-10-13, Hengelo (Gld), NL

S.L.G. Tirmarche Sylvie Laure Gabrielle

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2001-12-01

Date of birth: 1971-01-02, Cucq-Trépied, FR

A.A.M. Steenwoerd - Vollering Adriana Antonia Maria

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2001-12-01

Date of birth: 1962-05-08, Epe, NL

S. Popping - Jongsma Sara

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2002-02-01

Date of birth: 1969-06-14, Haskerland, NL

P. Weulen Kranenbarg Pascal

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2002-03-01

Date of birth: 1974-10-10, Ruurlo, NL

S.A. van Asselt Stijn Arjen

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2002-04-01

Date of birth: 1976-10-19, Apeldoorn, NL

W. Koldenhof Wouter

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2004-07-15

Date of birth: 1973-09-13, Apeldoorn, NL

M.K. Edwards Mark Keir

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2007-08-01

Date of birth: 1966-11-10, Aberdeen, GB

T. Chiang Tunghai

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2008-08-15

Date of birth: 1964-09-13, Tainan, TW

R.P. Jongman Raymond Patrick

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2015-07-01

Date of birth: 1975-05-13, Enschede, NL

W.A. Grob Wilfried Albertus

Netherlands

Competence: Limited authorization

Function: Proxy

Starting date: 2015-07-01

Date of birth: 1967-07-17, Herwen en Aerdt, NL

 

 

Employees

 

Total according to the Chamber of Commerce

129

 

 

 

 

 

 

 

 

Year

 

2015

2014

2007

1993

Total

129

129

91

91

 

 

Payments

 

 

Description

Payments are made regularly no complaints are known

 

 

Key figures

 

Year

 

2015

2014

2013

2012

2011

Quick  ratio

1,59

1,62

1,44

1,08

1,11

Current  ratio

2,19

2,37

2,20

1,83

1,80

Working  capital/  balance  total

0,33

0,34

0,32

0,26

0,24

Equity  /  balance  total

0,66

0,64

0,61

0,55

0,55

Equity  /  Fixed  assets

1,71

1,54

1,46

1,29

1,22

Equity  /  liabilities

1,95

1,81

1,57

1,23

1,22

Balance  total  /  liabilities

2,95

2,82

2,58

2,24

2,22

Working  capital

15.476.000

13.586.000

12.985.000

10.520.000

9.884.000

Equity

30.659.000

25.891.000

24.925.000

22.441.000

22.156.000

Mutation  equity

18,42

3,88

11,07

1,29

11,16

Mutation  short  term  liabilities

31,85

-8,40

-15,29

3,25

-12,97

Return  on  total  assets  (ROA)

10,89

12,79

11,00

6,41

11,69

Return  on  equity  (ROE)

16,49

19,89

18,04

11,62

21,32

Gross  profit  margin

7,79

8,18

7,41

5,16

9,00

Net  profit  margin

5,05

5,36

4,43

2,78

5,21

Average  collection  ratio

5,24

6,67

6,11

4,81

4,90

Average  payment  ratio

4,42

5,13

4,70

4,92

5,15

Equity  turnover  ratio

2,23

2,55

2,64

2,73

2,73

 

Year

 

2015

2014

2013

2012

2011

Total  assets  turnover  ratio

1,47

1,64

1,61

1,51

1,50

Fixed  assets  turnover  ratio

3,81

3,92

3,85

3,52

3,33

Inventory  conversion  ratio

8,78

8,88

8,05

6,45

7,08

Turnover

68.246.000

65.950.000

65.904.000

61.241.000

60.506.000

Operating  result

5.317.000

5.393.000

4.883.000

3.157.000

5.446.000

Net  result  after  taxes

3.444.000

3.536.000

2.922.000

1.705.000

3.154.000

Gross  profit

68.246.000

 

 

 

 

EBIT

5.317.000

5.393.000

4.883.000

3.157.000

5.446.000

 

 

Summary

 

The 2015 financial result structure is a postive working captial of 15.476.000 euro, which is in

agreement with 33 % of the total assets of the company.

The working capital has increase with 13.91 % compared to previous year. The ratio with

respect to the total assets of the company has however, declined.

The improvement between 2014 and 2015 has mainly been caused by a current liabilities

reduction.

The current ratio of the company in 2015 was 2.19. A company with a current ratio between

1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2015 of the company was 1.59. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

The 2014 financial result structure is a postive working captial of 13.586.000 euro, which is in

agreement with 34 % of the total assets of the company.

The working capital has increased with 4.63 % compared to previous year. The ratio, with

respect to the total assets of the company has however, increased.

The improvement between 2013 and 2014 has mainly been caused by an increase of the

current assets.

The current ratio of the company in 2014 was 2.37. A company with a current ratio between

1.5 and 3.0 generally indicates good short-term financial strength.

The quick ratio in 2014 of the company was 1.62. A company with a Quick Ratio of more than

1 can currently pay back its current liabilities.

 

 

 

 

 

 

 

Financial statement

 

Last annual account                 2015

Remark annual account            The financial statements shown in the report relate to the consolidated financial

statements of the group.

 

Type of annual account            Consolidated

Annual account                        Holland Colours N.V.

Halvemaanweg 1

7323RW Apeldoorn

Netherlands

Registration number: 08036180

 

 

Balance

 

Year

 

2015

2014

2013

2012

2011

End  date

2015-03-31

2014-03-31

2013-03-31

2012-03-31

2011-03-31

Intangible  fixed  assets

363.000

303.000

327.000

337.000

424.000

Tangible  fixed  assets

15.139.000

14.345.000

14.292.000

14.567.000

15.742.000

Financial  fixed  assets

2.432.000

2.165.000

2.499.000

2.509.000

2.016.000

Fixed  assets

17.934.000

16.813.000

17.118.000

17.413.000

18.182.000

Total  stock

7.772.000

7.425.000

8.189.000

9.488.000

8.546.000

Accounts  receivable

13.662.000

11.246.000

12.114.000

10.468.000

10.156.000

Other  receivables

1.772.000

1.618.000

1.895.000

1.992.000

1.588.000

Total  receivables

15.434.000

12.864.000

14.009.000

12.460.000

11.744.000

Liquid  funds

5.305.000

3.183.000

1.580.000

1.313.000

1.934.000

Current  assets

28.511.000

23.472.000

23.778.000

23.261.000

22.224.000

Total  assets

46.445.000

40.285.000

40.896.000

40.674.000

40.406.000

Minority  interests

43.000

96.000

135.000

44.000

34.000

Total  equity

30.659.000

25.891.000

24.925.000

22.441.000

22.156.000

Provisions

 

58.000

 

 

1.220.000

Long  term  interest  yielding  debt

2.708.000

4.354.000

5.043.000

5.448.000

4.656.000

Long  term  liabilities

2.708.000

4.354.000

5.043.000

5.448.000

4.656.000

Accounts  payable

6.163.000

4.920.000

6.541.000

 

4.402.000

Other  short  term  liabilities

6.872.000

4.966.000

4.252.000

 

7.938.000

 

Year

 

2015

2014

2013

2012

2011

End  date

2015-03-31

2014-03-31

2013-03-31

2012-03-31

2011-03-31

Short  term  liabilities

13.035.000

9.886.000

10.793.000

12.741.000

12.340.000

Total  short  and  long  term  liabilities

15.743.000

14.298.000

15.836.000

18.189.000

18.216.000

Total  liabilities

46.445.000

40.285.000

40.896.000

40.674.000

40.406.000

 

Summary

 

The total assets of the company increased with 15.29 % between 2014 and 2015.

The fixed asset growth of 6.67 % is lower than the total asset growth.

The asset growth has mainly been financed by a Net Worth increase of 18.42 %. Debt,

however, grew with 10.11 %.

In 2015 the assets of the company were 38.61 % composed of fixed assets and 61.39 % by

current assets. The assets are being financed by an equity of 66.01 %, and total debt of

33.99 %.

The total assets of the company decreased with -1.49 % between 2013 and 2014.

This downturn is mainly retrievable in the fixed asset decrease of -1.78 %.

The asset reduction is in contrast with the equity growth of 3.88 %. Due to this the total debt

decreased with -9.71 %.

In 2014 the assets of the company were 41.74 % composed of fixed assets and 58.26 % by

current assets. The assets are being financed by an equity of 64.27 %, and total debt of

35.73 %.

 

 

 

 

 

Profit & Loss

 

Year

 

2015

2014

2013

2012

2011

Revenues

68.294.000

65.906.000

65.838.000

61.099.000

60.593.000

Other  operating  income

48.000

-44.000

-66.000

-142.000

87.000

Net  turnover

68.246.000

65.950.000

65.904.000

61.241.000

60.506.000

 

Year

 

2015

2014

2013

2012

2011

Operating  expenses

62.977.000

60.513.000

60.955.000

57.942.000

55.147.000

Operating  result

5.317.000

5.393.000

4.883.000

3.157.000

5.446.000

Financial  income

87.000

69.000

22.000

12.000

11.000

Financial  expenses

347.000

311.000

408.000

561.000

734.000

Financial  result

-260.000

-242.000

-386.000

-549.000

-723.000

Result  on  ordinary  operations  before  taxes

5.057.000

5.151.000

4.497.000

2.608.000

4.723.000

Taxation  on  the  result  of  ordinary  activities

1.613.000

1.615.000

1.575.000

903.000

1.569.000

Result  of  ordinary  activities  after  taxes

3.444.000

3.536.000

2.922.000

1.705.000

3.154.000

Net  result

3.444.000

3.536.000

2.922.000

1.705.000

3.154.000

 

Summary

 

The turnover of the company grew with 3.48 % between 2014 and 2015.

The operating result of the company declined with -1.41 % between 2014 and 2015. This

evolution implies an decrease of the company's economic profitability.

The result of these changes is a reduction of the company's Economic Profitability of -14.86

% of the analysed period, being equal to 10.89 in the year 2015.

This fall has contributed to a asset turnover decrease, whose index evolved from -10.37 to a

level of 1.47.

The Net Result of the company decreased by -2.6 % between 2014 and 2015.

The company's Financial Profitability has been negatively affected by the financial activities in

comparison to the EBITs behaviour. The result of these variations is a profitability reduction

of -17.09 % of the analysed period, being 16.49 in the year 2015.

The company's financial profitability has been positively affected by its financial structure.

The turnover of the company remained the same between 2013 and 2014.

The operating result of the company grew with 10.44 % between 2013 and 2014. This

evolution implies an increase of the company's economic profitability.

The result of these changes is an increase of the company's Economic Profitability of 16.27

% of the analysed period, being equal to 12.79 in the year 2014.

This growth has contributed to the increase in assets turnover, increasing by 1.86 % reaching

1.64.

The Net Result of the company increased by 21.01 % between 2013 and 2014.

The company's Financial Profitability has been positively affected by the financial activities in

comparison to the EBITs behaviour. The result of these variations is a profitability increase of

10.25 % of the analysed period, being 19.89 in the year 2014.

The company's financial structure has slowed down its financial profitability.

Page: 10

 

 

 

 

 

 

Analysis

 

Branch (SBI)                 MANUFACTURE OF CHEMICALS AND CHEMICAL PRODUCTS (SBI code 20)

Region                         Veluwe

 

Summary                     In the Netherlands 1365 of the companies are registered with the SBI code 20

In the region Veluwe 48 of the companies are registered with the SBI code 20

In the Netherlands 17 of the bankrupcties are published within this sector

The risk of this specific sector in the Netherlands is normal

The risk of this specific sector in the region Veluwe is normal

 

 

Publications

 

Consent statements      14-04-2015: Voor boekjaar 2016 is een instemmingsverklaring gedeponeerd.

08-04-2014: Voor boekjaar 2015 is een instemmingsverklaring gedeponeerd.

08-04-2014: Voor boekjaar 2014 is een instemmingsverklaring gedeponeerd.

08-04-2014: Voor boekjaar 2013 is een instemmingsverklaring gedeponeerd.

08-04-2014: Voor boekjaar 2010 is een instemmingsverklaring gedeponeerd.

08-04-2014: Voor boekjaar 2012 is een instemmingsverklaring gedeponeerd.

08-04-2014: Voor boekjaar 2011 is een instemmingsverklaring gedeponeerd.

03-05-2013: Voor boekjaar 2013 is een instemmingsverklaring gedeponeerd.

16-07-2012: Voor boekjaar 2012 is een instemmingsverklaring gedeponeerd.

16-07-2012: Voor boekjaar 2011 is een instemmingsverklaring gedeponeerd.

 

Functions                     02-07-2015: Per 01-07-2015 is gevolmachtigde Maroesja Selena Klomp uit functie getreden.

02-07-2015: Per 01-07-2015 is gevolmachtigde Wilfried Albertus Grob in functie getreden.

02-07-2015: Per 01-07-2015 is gevolmachtigde Raymond Patrick Jongman in functie

getreden.

28-11-2014: Per 01-11-2014 is gevolmachtigde Maria Gezina Wielens-Kleinsman in functie getreden.

28-11-2014: Per 01-11-2014 is gevolmachtigde Marco Michel Kok uit functie getreden.

28-11-2014: Per 01-06-2014 is gevolmachtigde Hendrik Marinus Jacobs uit functie getreden.

29-10-2013: Per 19-10-2013 is gevolmachtigde Johannes Cornelis van Vliet in functie

getreden.

06-06-2013: Per 03-06-2013 is gevolmachtigde Walter Bernard Jan Elderink uit functie

getreden.

08-03-2013: Per 28-02-2013 is gevolmachtigde Cornelis Pieter Janse uit functie getreden.

05-12-2012: Per 01-11-2012 is gevolmachtigde Marco Michel Kok in functie getreden.

01-10-2012: Per 31-08-2012 is gevolmachtigde Dick Gabriël Goudappel uit functie getreden.

01-10-2012: Per 31-08-2012 is gevolmachtigde Jeroen Jacobus Gerardus Straathof uit

functie getreden.

23-01-2012: Per 01-11-2011 is gevolmachtigde Willem Jan van Essen in functie getreden.

05-01-2012: Per 05-01-2012 is gevolmachtigde Robert Harmsen in functie getreden.

04-01-2012: Per 01-02-2002 is gevolmachtigde Sara Popping-Jongsma in functie getreden.

21-12-2011: Per 01-11-2011 is gevolmachtigde Gerrit Jan Luiten in functie getreden.

21-12-2011: Per 08-09-2011 is gevolmachtigde Sara Popping-Jongsma uit functie getreden.

 

Amendments                12-08-2013: Per 7-8-2013 statuten gewijzigd.

 

 

 

Company structure

 

Relations                      2

 

Company

 

Registration Number

Holland  Colours  N.V.  (Apeldoorn)

08036180

|  -  -  Holland  Colours  Europe  B.V.  (Apeldoorn)

08034922


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.67

Euro

1

Rs.70.87

EUR

1

Rs.70.75

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

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.