MIRA INFORM REPORT

 

 

Report No. :

347479

Report Date :

29.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SPARTA  LOGISTIX  NV

 

 

Registered Office :

Sint-Lucaslaan  54 2180 Antwerpen

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

15.02.2008

 

 

Com. Reg. No.:

895863195

 

 

Legal Form :

Public  limited  company

 

 

Line of Business :

Sea and coastal freight water transport

 

 

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 :

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 budget deficit was 3.2% of GDP. 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 a 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

895863195

Branche  Unit  Number

2193103781

Company  name

SPARTA  LOGISTIX  NV

Address

SINT-LUCASLAAN  54

 

2180 ANTWERPEN

Number  of  staff

6

Date  of  establishment

15/02/2008

Telephone  number

035440050

Fax  number

035440070

 

 

Ultimate  holding  company

 

Company  name

Company  Number

SPARTAXX  NV

894316244

 

 

Commentary

 

The  business  was  established  over  7  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  3  years.

Operating  Result  in  the  latest  trading  period  decreased  94%  on  the  previous  trading  period.

Pre-tax  profits  decreased  by  76%  compared  to  the  previous  trading  period.

The  business  saw  an  increase  in  their  Cash  Balance  of  78%  during  the  latest  trading  period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

27,860,715

124,509

791,689

1,160,577

31/12/2013

31,524,232

525,253

872,680

1,172,141

31/12/2012

34,657,601

790,312

729,926

1,020,306

 

Accounts

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

4,688,075

6

61,500

159,955

31/12/2013

4,062,539

7

61,500

478,352

31/12/2012

4,220,243

7

61,500

687,758

Trends

 

Profitability

Liquidity

Net  worth

 

 

Payment  expectations

 

Past  payments

 

Payment  expectation  days

34.76

Industry  average  payment

99.02

Industry  average  day  sales

762.82

expectation  days

 

outstanding

 

Day  sales  outstanding

32.64

 

 

 

 

Court  data  summary

 

BANKRUPTCY  DETAILS

Court  action  type

no

PROTESTED  BILLS

Bill  amount

-

NSSO  DETAILS

Date  of  summons

-

 

 

Company  information

 

Business  number

895863195

Company  name

SPARTA  LOGISTIX  NV

Fax  number

03 544 00 70

Date  founded

15/02/2008

Company  status

active

Company  type

Public  limited  company

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

50200

Liable  for  VAT

yes

Activity  description

Sea  and  coastal  freight  water transport

VAT  Number

BE.0895.863.195  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

226

Description

JC  employees  international  trade,  transport  &  related  activities

category

 

 

Significant  Events

 

Event  Date

13/06/2013

Event  Description

re-appointment  of  director(s)

Event  Details

Commentaar  13-06-2013:  Herbenoemd  als  bestuurder  tot  de  jaar  vergadering  van  2017  :  NV

 

Spartaxx.

 

 

Event  Date

15/02/2008

Event  Description

Legal  creation

Event  Details

 

 

 

Company  accounts

 

Assets

 

 

 

 

 

 

 

 

 

Annual  accounts

31-12-2014

%

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

62,351

-32.53

92,408

-8.95

101,489

-18.79

124,966

115

57,878

Intangible  fixed  assets

0

-

0

-

0

-

0

-

0

Tangible  fixed  assets

62,351

-32.53

92,408

-8.95

101,489

-18.79

124,966

115

57,878

Land  &  building

0

-

0

-

0

-

0

-

0

Plant  &  machinery

18,624

-20.00

23,280

-20.00

29,100

-20.00

36,375

-

0

Furniture  &  Vehicles

43,727

-36.74

69,128

-4.50

72,388

-18.29

88,591

53.06

57,878

Leasing  &  Other  Similar  Rights

0

-

0

-

0

-

0

-

0

Other  tangible  assets

0

-

0

-

0

-

0

-

0

Financial  fixed  assets

0

-

0

-

0

-

0

-

0

Total  current  assets

4,625,723

16.51

3,970,131

-3.61

4,118,754

-2.71

4,233,613

42.50

2,970,871

Inventories

0

-

0

-

0

-

0

-

0

Raw  materials  &  consumables

0

-

0

-

0

-

0

-

0

Work  in  progress

0

-

0

-

0

-

0

-

0

Finished  goods

0

-

0

-

0

-

0

-

0

Other  stocks

0

-

0

-

0

-

0

-

0

Trade  debtors

2,491,070

-11.09

2,801,905

-21.12

3,552,176

6.27

3,342,507

65.65

2,017,787

Other  amounts  receivable

95,817

335

22,000

-29.03

31,000

-72.47

112,602

-66.40

335,162

Cash

2,031,071

78.60

1,137,188

117

522,222

-32.71

776,025

27.46

608,829

Miscellaneous  current  assets

7,765

-14.07

9,037

-32.34

13,356

438

2,479

-72.73

9,092

Total  Assets

4,688,075

15.40

4,062,539

-3.74

4,220,243

-3.17

4,358,579

43.91

3,028,749

 

Liabilities

 

 

 

 

 

 

 

 

 

Total  shareholders  equity

791,689

-9.28

872,680

19.56

729,926

61.19

452,849

19.63

378,555

Issued  share  capital

61,500

0

61,500

0

61,500

0

61,500

0

61,500

Share  premium  account

0

-

0

-

0

-

0

-

0

Revaluation  reserve

0

-

0

-

0

-

0

-

0

Reserves

730,189

-9.98

811,180

21.36

668,426

70.80

391,349

23.43

317,055

Provisions  for  Liabilities  &  Charges

431,239

10.05

391,869

0

391,869

-1.86

399,293

13.43

352,030

Deffered  taxes

0

-

0

-

0

-

0

-

0

Creditors

3,465,146

23.84

2,797,990

-9.70

3,098,449

-11.64

3,506,438

52.58

2,298,164

Other  long  term  loans

0

-

0

-

0

-

0

-

0

Long  term  group  loans

-

-

-

-

-

-

-

-

-

Other  long  term  liabilities

0

-

0

-

0

-

0

-

0

Total  long  term  debts

431,239

10.05

391,869

0

391,869

-1.86

399,293

13.43

352,030

Current  portion  of  long  term  debt

0

-

0

-

0

-

0

-

0

Financial  debts

0

-

0

-

0

-100

700,000

1094

58,604

Trade  creditors

2,650,395

26.43

2,096,272

-17.26

2,533,688

-1.29

2,566,899

24.78

2,057,108

Amounts  Payable  for  Taxes,

153,003

22.11

125,304

35.09

92,754

-53.08

197,691

23.26

160,385

Remuneration  &  Social  Security

 

 

 

 

 

 

 

 

 

Miscellaneous  current  liabilities

661,748

14.80

576,413

22.12

472,007

1027

41,848

89.64

22,067

Total  current  liabilities

3,465,146

23.84

2,797,990

-9.70

3,098,449

-11.64

3,506,438

52.58

2,298,164

Total  Liabilities

4,688,075

15.40

4,062,539

-3.74

4,220,243

-3.17

4,358,579

43.91

3,028,749

 

 

ratio  analysis

 

 

 

 

 

 

 

 

 

TRADING  PERFORMANCE

 

 

 

 

 

 

 

 

 

Profit  Before  Tax

0.45

-73.05

1.67

-26.75

2.28

7.04

2.13

208

0.69

Return  on  capital  employed

10.18

-75.49

41.54

-41.04

70.45

1.19

69.62

154

27.34

Return  on  total  assets  employed

2.66

-79.43

12.93

-30.97

18.73

37.62

13.61

106

6.60

Return  on  net  assets  employed

15.73

-73.87

60.19

-44.41

108.27

-17.36

131.01

148

52.77

Sales  /  net  working  capital

24.01

-10.71

26.89

-20.84

33.97

-11.49

38.38

-11.12

43.18

Stock  turnover  ratio

-

-

-

-

-

-

-

-

-

Creditor  days

34.76

40.44

24.75

-9.41

27.32

-20.33

34.29

32.50

25.88

Debtor  days

32.64

0.62

32.44

-13.29

37.41

-14.41

43.71

72.43

25.35

SHORT  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Current  ratio

1.33

-6.34

1.42

6.77

1.33

9.92

1.21

-6.20

1.29

Liquidity  ratio  /  acid  ratio

1.33

-6.34

1.42

6.77

1.33

9.92

1.21

-6.20

1.29

Current  debt  ratio

4.38

36.45

3.21

-24.29

4.24

-45.22

7.74

27.51

6.07

Liquidity  ratio  reprocessed

-

-

-

-

-

-

-

-

-

Cashflow

159,955

-66.56

478,352

-30.45

687,758

74.76

393,546

187

136,755

Net  worth

791,689

-9.28

872,680

19.56

729,926

61.19

452,849

19.63

378,555

LONG  TERM  STABILITY

 

 

 

 

 

 

 

 

 

Gearing

-

-

-

-

-

-

154.58

898

15.48

Equity  in  percentage

16.89

-21.37

21.48

24.16

17.30

66.51

10.39

-16.88

12.50

Total  debt  ratio

4.92

34.43

3.66

-23.43

4.78

-44.55

8.62

23.14

7.00

Working  capital

1,160,577

-0.99

1,172,141

14.88

1,020,306

40.31

727,176

8.10

672,706

Profit  &  loss

 

 

 

 

 

 

 

 

 

Operating  Income

27,891,903

-11.57

31,540,259

-9.09

34,692,118

24.21

27,930,625

-3.97

29,083,880

Turnover

27,860,715

-11.62

31,524,232

-9.04

34,657,601

24.18

27,909,046

-3.92

29,047,905

Total  operating  expenses

27,828,128

-9.98

30,912,401

-8.67

33,848,005

23.90

27,319,391

-5.83

29,011,637

Gross  Operating  Margin

-

-

-

-

-

-

-

-

-

Operating  Charges

27,859,316

-9.92

30,928,428

-8.72

33,882,522

23.93

27,340,969

-5.88

29,047,612

Employee  costs

526,599

9.24

482,065

-6.58

516,027

-26.71

704,129

8.99

646,073

Wages  and  salary

363,418

13.11

321,304

-1.14

325,018

-39.31

535,512

17.39

456,187

Employee  pension  costs

-

-

-

-

-

-

-

-

-

Social  security  contributions

105,912

19.43

88,681

-18.11

108,297

-11.98

123,036

-1.27

124,620

Other  employee  costs

57,269

-20.55

72,081

-12.85

82,712

81.46

45,581

-30.16

65,266

Director  remuneration

-

-

-

-

-

-

-

-

-

Amortization  and  depreciation

30,057

-4.78

31,567

-3.11

32,579

69.23

19,252

63.48

11,776

Operating  result

32,587

-94.67

611,830

-24.43

809,596

37.30

589,656

1525

36,268

Total  financial  income

143,378

778280

18

-99

37,446

-33.01

55,894

-73.06

207,461

Total  financial  expenses

51,456

-40.58

86,595

52.65

56,730

8.55

52,261

18.90

43,954

Results  on  ordinary  operations

124,509

-76.30

525,253

-33.54

790,312

33.21

593,289

196

199,775

before  taxation

 

 

 

 

 

 

 

 

 

Extraordinary  Income

5,868

-

-

-

11,917

-

-

-

-

Extraordinary  Charges

-

-

-

-

-

-

16,219

-

-

Extraordinary  items

5,868

-

0

-100

11,917

73.48

-16,219

-

0

Results  for  the  Year  Before

130,376

-75.18

525,253

-34.53

802,229

39.02

577,070

188

199,775

Taxation

 

 

 

 

 

 

 

 

 

Other  appropriations

-

-

-

-

-

-

-

-

-

Taxation

478

-99

78,468

-46.64

147,050

-27.48

202,776

171

74,797

Results  on  ordinary  operations after  taxation

124,031

-72.24

446,785

-30.54

643,262

64.72

390,513

212

124,978

Net  result

129,898

-70.93

446,785

-31.81

655,179

75.04

374,294

199

124,978

Profit  (Loss)  for  the  Year  to  be appropiated

129,898

-70.93

446,785

-31.81

655,179

75.04

374,294

199

124,978

Dividends

-

-

-

-

-

-

300,000

-

-

 

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet  Details

 

Social  Balance  Sheet

Total

During  the  reporting  year

 

ended  31-12-2014

 

Full-time  Employees

6

Part-time  Employees

2

Total  Fte  Employees

8

Number  of  hours  worked

 

Full-time  Employees

9,397

Part-time  Employees

2,026

Total

11,423

Personnel  Charges

 

Full-time  Employees

433,228

Part-time  Employees

93,371

Total

526,599

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

8

Actual  working  hours

11,556

Personnel  Charges

482,065

Benefits  In  Addition  To  Wages

-

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

6

1

7

Contracts

 

 

 

Limited  Duration  Contracts

-

-

-

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding Substitution

-

-

-

 

Gender  and  Education Level

Men

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

-

-

-

Higher  education  (non university)

3

-

3

Higher  education (university)

-

-

-

 

 

 

 

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

1

-

1

Higher  education  (non university)

1

1

2

Higher  education (university)

1

-

1

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

-

-

-

White  collar  worker

6

1

7

Blue  collar  worker

-

-

-

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

-

-

-

Leavers

-

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

50200

Activity  description

Sea  and  coastal  freight  water  transport

 

 

Payment Information

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

551

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

537

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

11

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

0

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

3

 

 

Suspension  of  payments  /  moratorium  history

Amount

-

Details

-

 

 

Payment  expectations

 

Payment  expectation  days

34.76

Day  sales  outstanding

32.64

 

 

Industry  comparison

 

Activity  code

50200

Activity  description

Sea  and  coastal  freight  water  transport

Industry  average  payment

99.02

expectation  days

 

Industry  average  day  sales

762.82

outstanding

 

 

Industry  quartile  analysis

 

Payment  expectations

 

Company  result

34.76

Lower

96.07

Median

35.58

Upper

14.75

 

 

 

Day  sales  outstanding

 

Company  result

32.64

Lower

111.32

Median

58.06

Upper

30.69

 

 

Shareholder  Details

 

Summary

 

 

 

 

Group  -  Number  of  Companies

2

 

 

 

Linkages  -  Number  of  Companies

0

 

 

 

Number  of  Countries

0

 

 

 

 

Group  Structure

 

 

Company  name

Number

Latest

 

 

financials

- SPARTAXX  NV

894316244

31-12-2014

- - SPARTA  LOGISTIX  NV

895863195

31-12-2014

 

 

Minority  Shareholders

 

No  minority  shareholders  found

 

Minority  Interests

 

No  minority  interests  found

 

Individual  Shareholders

 

SHAREHOLDER  NAME

Forename

Eric  (Nic)

Middle  name

 

Kris

Surname

Hanne

 

 

 

SHAREHOLDER  DETAILS

 

 

 

 

Start  date

15/02/2008(estimated)

End  date

 

-

Percentage  owned

0.16%

 

 

 

SHAREHOLDER  ADDRESS

 

 

 

 

Street  name

Houtelweg

House  number

 

15

Minor  town

-

Postal  town

 

Rijkevorsel

Post  code

2310

Country

 

Belgium

Companies  that  match  this  address

 

 

 

 

Business  number

Company  name

Rating

Limit

Date  of  accounts

894316244

SPARTAXX  NV

88

115000

31/12/2014

 

 

Linked  Companies

 

Summary

 

Group  -  Number  of  Companies

2

Linkages  -  Number  of  Companies

0

Number  of  Countries

0

 

 

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

 

Position

Director

Start  Date

25/05/2012

Street

 

Post  code

 

Country

 

 

 

Name

L2D  CONSULTING  &  LOGISTICS

Name

M  &  M  LOGISTICS  EBVBA

Position

Director

Start  Date

01/07/2011

Street

 

Post  code

 

Country

 

 

 

Name

PHU  LOGIXX  SPRL

Position

Director

Start  Date

01/07/2011

Street

 

Post  code

 

Country

 

 

 

Name

WNM  CONSULTING

Position

Director

Start  Date

01/07/2011

Street

 

Post  code

 

Country

 

Name

HLM

Position

Director

Start  Date

01/07/2011

Street

 

Post  code

 

Country

 

 

 

Name

SPARTAXX  NV

Position

Director

Start  Date

15/02/2008

Street

 

Post  code

 

Country

 

 

 

Name

Philippe  Baeten

Position

Permanent  representative  legal  entity

Start  Date

25/05/2012

Street

 

Post  code

 

Country

 

 

 

Name

Jorg  Matthyns

Position

Permanent  representative  legal  entity

Start  Date

16/11/2011

Street

 

Post  code

 

Country

 

 

 

Position

Permanent  representative  legal  entity

Start  Date

01/07/2011

Street

 

Post  code

 

Country

 

 

 

Name

Pascal  Huin

Position

Permanent  representative  legal  entity

Start  Date

01/07/2011

Street

 

Post  code

 

Country

 

 

 

Name

Nancy  Deckers

Position

Permanent  representative  legal  entity

Start  Date

01/07/2011

Date  of  birth

25/07/1973

Street

17 LARIKSDREEF  SCHOTEN

Post  code

2900

Country

Belgium

 

 

Name

Jurgen  D'Hauwe

Position

Permanent  representative  legal  entity

Start  Date

01/07/2011

Street

14 LANGE  NIEUWSTRAAT  BEVEREN-WAAS

Post  code

9130

Country

Belgium

 

Former  director  details

 

Name

Philippe  Baeten

Position

Director

Start  Date

26/08/2010

End  Date

25/05/2012

Street

 

Post  code

 

Country

 

 

 

Name

Jurgen  D'Hauwe

Position

Director

Start  Date

26/08/2010

End  Date

01/07/2011

Street

14 LANGE  NIEUWSTRAAT  BEVEREN-WAAS

Post  code

9130

Country

Belgium

 

 

Name

Nancy  Deckers

Position

Director

Start  Date

26/08/2010

End  Date

01/07/2011

Date  of  birth

25/07/1973

Street

17 LARIKSDREEF  SCHOTEN

Post  code

2900

Country

Belgium

 

 

Name

Jorg  Matthyns

Position

Director

Start  Date

26/08/2010

End  Date

01/07/2011

Street

44 HOF  VAN  DELFTLAAN  ANTWERPEN

Post  code

2180

Country

Belgium

 

 

Name

Pascal  Huin

Position

Director

Start  Date

26/08/2010

End  Date

01/07/2011

Street

 

Post  code

 

Country

 

 

 

Name

Nic  Hanne

Position

Director

Start  Date

15/02/2008

End  Date

26/08/2010

Street

15 HOUTELWEG  ANTWERPEN

Post  code

2030

Country

Belgium

 

 

Name

Marcel  Dubourg

Position

Permanent  representative  legal  entity

Start  Date

26/08/2010

End  Date

04/11/2011

Date  of  birth

22/07/1954

Street

66 MOLENSTRAAT  TEMSE

Post  code

9140

Country

Belgium

 

 

Name

Ria  Vinck

Position

Permanent  representative  legal  entity

Start  Date

15/02/2008

End  Date

26/08/2010

Street

 

Post  code

 

Country

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.65.04

UK Pound

1

Rs.99.58

Euro

1

Rs.71.75

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

TRU

 

               

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.