MIRA INFORM REPORT
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Report No. : |
344241 |
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Report Date : |
16.10.2015 |
IDENTIFICATION DETAILS
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Name : |
ELINA GARMENT INDUSTRIES PVT. LTD. |
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Registered Office : |
Balkumari, Gwarko, Lalitpur-9 |
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Country : |
Nepal |
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Financials (as on) : |
14.03.2015 |
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Date of Incorporation : |
10.01.1980. |
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Legal Form : |
Private limited company |
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Line of Business : |
Subject is working in Clothing and Accessories business activities. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Nepal |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 increase Nepal’s hydropower potential.
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Source
: CIA |
Company
name and address
ELINA GARMENT INDUSTRIES PVT. LTD.
Balkumari, Gwarko, Lalitpur-9 Nepal.
Phone : 977-1-5525548, 977-1-5527445
Fax : 977-1-5527920
History
It is a private limited company incorporated at Kathmandu under
Govt.
Act No.105976 of 10.01.1980.
Directors
Kedar Bahadur Amatiya
Sanjoy Amatiya
Bijoy Amatiya
Bankers
1. Nabil Bank,
Kathmandu, Nepal .
2. Nepal Grindlays
Bank Ltd. Nepal
Auditors
N.Amartya & Co
Pulchuwk
Lalitpur,Nepal.
Business
ELINA GARMENT INDUSTRIES PVT. LTD. is working in Clothing
and Accessories business activities.
Balance
Sheet
Remarks
Payments are reported to be correct and regular as per
commitments. Trade relations are fair.
Consider good for normal business Engagement as usual trade terms &
condition.
Information
denied
Management Non-cooperative (0977-1-5525548 /0977-1-5527445 /0977-1-5527455 / 0977-1-55270920
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.82 |
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UK Pound |
1 |
Rs.100.41 |
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Euro |
1 |
Rs.74.50 |
INFORMATION DETAILS
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Information
Gathered by : |
SUP |
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Analysis Done by
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RAS |
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Report Prepared
by : |
TRU |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.