|
Report No. : |
341507 |
|
Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. SO GOOD FOOD |
|
|
|
|
Formerly Known As : |
P.T. SUPRA SUMBER CIPTA |
|
|
|
|
Registered Office : |
Graha Praba Samanta Jalan Daan Mogot Km. 12 No. 9, RT. 003 RW. 013 Pesing Poglar,
Cengkareng Jakarta Barat, 11730 |
|
|
|
|
Country : |
Indonesia |
|
|
|
|
Date of Incorporation : |
17.04.1996 |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Com. Reg. No.: |
AHU-AH.01.10-10635 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
|
|
|
|
|
No. of Employees : |
4,162 Persons |
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 : |
Exist |
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) |
|
Indonesia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDONESIA - ECONOMIC OVERVIEW
Indonesia has seen a slowdown in growth since 2012, mostly
due to the end of the commodities export boom. During the global financial crisis,
Indonesia outperformed its regional neighbors and joined China and India as the
only G20 members posting growth. The government has promoted fiscally
conservative policies, resulting in a debt-to-GDP ratio of less than 25% and
historically low rates of inflation. Fitch and Moody's upgraded Indonesia's
credit rating to investment grade in December 2011. Indonesia still struggles
with poverty and unemployment, inadequate infrastructure, corruption, a complex
regulatory environment, a current account deficit, and unequal resource
distribution among regions. President Joko WIDODO - elected in July 2014 - has
emphasized maritime and other infrastructure development, and especially
increased electric power capacity, since taking office. Fuel subsidies were
almost completely removed in early 2015, a move which could help the government
increase spending on its development priorities. Indonesia, with the nine other
ASEAN members, will continue to move towards participation in the ASEAN
Economic Community, though full implementation of economic integration will not
be completed by the previously-set deadline of year-end 2015.
|
Source
: CIA |
Name
of Company :
P.T.
SO GOOD FOOD
Address
:
Head Office
Graha
Praba Samanta
Jalan Daan Mogot Km. 12 No. 9, RT. 003 RW. 013
Pesing
Poglar, Cengkareng
Jakarta
Barat, 11730
Indonesia
Phones -
(62-21) 544 8648 (Hunting)
Fax - (62-21) 544 8683
Building Area - 4 storey
Office Space - 80 sq. meters
Region - Commercial
Building
Status - Rent
Date of Incorporation :
a. 17 April 1996 as P.T. SUPRA SUMBER CIPTA
b. 25 January 2010 as P.T. SO GOOD FOOD
Legal
Form :
P.T.
(Perseroan Terbatas) or Limited Liability Company
Company
Reg. No. :
The Ministry of Law and Human Rights
- No. C2-9030.HT.01.01.TH.96
Dated 19 September 1996
- No. AHU-18204.AH.01.02.TH.2008
Dated 11 April 2008
- No. AHU-07750.AH.01.02.TH.2010
Dated 12 February 2010
- No. AHU-AH.01.10-09842
Dated 31 March 2011
- No. AHU-26853.AH.01.02.TH.2011
Dated 27 May 2011
- No. AHU-AH.01.10-16441
Dated 30 May 2011
- No. AHU-AH.01.10-10635
Dated 13 March 2014
Company
Status :
Foreign
Investment (PMA) Company
Permit
by the Government Department :
The Department of Finance
NPWP
No. 01.776.155.2-038.000
The Capital Investment Coordinating
Board
No.
01178/1/PPM/PMA/2011
Dated
20 April 2011
Related
Company :
A
Member Company of the JAPFA COMFEED Group (see attachment)
Capital
Structure :
Authorized
Capital :
Rp. 600,000,000,000.-
Issued
Capital :
Rp. 500,000,000,000.-
Paid
up Capital :
Rp. 500,000,000,000.-
Shareholders/Owners
:
a. JUPITER FOODS PTE LT. -
Rp. 499,573,000,000.-
Address : 24 Raffles Place #07-02
Clifford Center, Singapore 048621
Singapore
b. ANNONA PTE LTD. -
Rp. 427,000,000.-
Address :
24 Raffles Place #07-02
Clifford Center, Singapore 048621
Singapore
Lines of Business :
a. Trading, Marketing and Distribution of
Consumer Food Products
b. Investment Holding
Production Capacity :
None
Total Investment :
None
Started Operation :
1996
Brand Name :
So Good Food
Technical Assistance
:
None
Number of Employee :
4,162 persons
Marketing Area :
Local - 80%
Export - 20%
Main Customer :
Supermarket, Mini
Market, Traders
Market Situation :
Very Competitive
Main Competitors :
a. P.T. BELFOODS
INDONESIA
b. P.T. INDOMAS JAYA
c. P.T. SAPTA DWI
PANGAN
d. P.T. SEKAR BUMI Tbk
Business Trend :
Growing
B
a n k e r s :
a.
P.T. Bank NEGARA INDONESIA Tbk
Wisma BNI
Jalan Jend. Sudirman Kav. 1
Jakarta Pusat
Indonesia
b. P.T. Bank
MANDIRI Tbk
Wisma Bank MANDIRI
Jalan Jend. Gatot Subroto Kav. 36-38
Jakarta Selatan
Indonesia
Auditor
:
Mulyamin
Sensi Suryanto & Lianny (Moores Stephens)
Litigation
:
See
Legal Matters
Annual
Sales :
2012
– Rp. 2,442.5 billion
2013
– Rp. 2,531.1 billion
2014
– Rp. 2,670.0 billion (estimated)
Net
Profit :
2012
– Rp. 115.4 billion
2013
– Rp. 99.9 billion
2014
– Rp. 133.5 billion (estimated)
Payment
Manner :
Average
Financial
Comments :
Satisfactory
Board of Management :
President Director - Mr. Dirk Budianto Wahjudi Djatmiko
Directors -
a. Mr. Ananda Soetrisno
b. Mr. Drs. Yusuf Paulus
Board of Commissioners :
President Commissioner - Mr. Tan Yong Nang
Commissioner - Mr. Peter Chi Kee Chin
Signatories :
President
Director (Mr. Dirk Budianto Wahjudi Djatmiko) or one of the Directors (Mr.
Ananda Soetrisno or Mr. Drs. Yusuf Paulus) which must be approved by Board of
Commissioner
Management Capability :
Good
Business Morality :
Good
Credit Risk :
Average
Originally the company named P.T. SUPRA SUMBER CIPTA was
incorporated in West Jakarta based on notary deed of Mr. Arief Zakaria, SH.,
No. 24 dated 17 April 1996 with the authorized capital of Rp. 10,000,000,000 issued
capital of Rp. 2,500,000,000 fully and paid up. The founding shareholders of
the company originally were P.T. OMETRACO LAND and Mrs. Dra. Hienny Aliaman an
Indonesian businesswoman of Chinese extraction. The company notary deed had
been changed a couple of times and according to the revision of notary
documents of Mr. Buntario Tigris Darmawa NG, SH., No. 225 dated 28 March 2008
the company authorized capital was increased to Rp. 250,000,000,000 issued
capital to Rp. 230,000,000,000 entirely paid up. On the same occasion
Concurrently P.T. OMETRACO LAND and Mrs. Dra. Hienny Aliaman pulled out and the
whole shares taken over by P.T. CIOMAS ADISATWA and P.T. MULTIPHALA AGRINUSA,
both are private national company as new shareholders. With this development the
composition of its shareholders has been changed to become P.T. CIOMAS ADISATWA
(99.85%) and P.T. MULTIPHALA AGRINUSA (0.15%). Then according to the revision
of notary documents of Mr. Buntario Tigris Darmawa NG, SH., No. 104 dated 25
January 2010 the company name of changed to P.T. SO GOOD FOOD (P.T. SGF).
Later according to the revision of notary deed Mr.
Buntario Tigris Darmawa Ng, SH., No. 171 dated 17 March 2011 the company’s
authorized capital was increased to Rp. 600,000,000,000 issued capital to Rp.
500,000,000,000 entirely paid up. On the same occasion P.T. MULTIPHALA AGRINUSA
pulled out and replaced by P.T. JAPFA COMFEED INDONESIA Tbk. With this time the
composition of its shareholders has been changed to become P.T. CIOMAS ADISATWA
(99.92%) and P.T. JAPFA COMFEED INDONESIA Tbk (0.08%).
Later according to the latest revision of notary deed Mr.
Buntario Tigirs Darmawa Ng, SH., No. 197 dated 26 May 2011 the whole shares had
been taken over by JUPITER FOOD PTE LTD., and ANNONA PTE LTD., both are private
company based in Singapore. With this time the composition of its shareholders
has been changed to become JUPITER FOODS PTE LTD., (99.91%) and ANNONA PTE
LTD., (0.09%). The latest according to notary documents Mr. Buntario Tigris,
SH., dated in February 2014 the shareholders was approved restructured the
board of director and the board of commissioner. So that the latest revision of
notary deed was approved by the Ministry of Law and Human Rights in its
decision letter No. AHU-AH.01.10-10635 dated March 13, 2014.
We observe that P.T. SGF is a member company of the JAPFA
COMFEED Group a large sized business group engaged in animal feed mills, animal
medicine, food product manufacturing, poultry division with all related poultry
industries, such as feed mill, breading farm, commercial farm, slaughter house.
Meanwhile JUPITER FOODS PTE LTD and ANNONA PTE LTD., both are of Singapore is a
private company based in Singapore which majority shares controlled by JAPFA
HOLDINGS PTE LTD (ex MALVOLIA PTE LTD), a private company based in Singapore.
P.T. SGF is a private national company started with
operating since 1996 engaged in the field of trading, marketing and
distribution of consumer products. P.T. SGF is a marketing of its parent
company of consumer food from P.T. JAPFA SANTORI INDONESIA and P.T. JAPFA
COMFEED INDONESIA Tbk. The consumer food products are chicken frozen meat,
value added meat products (chicken nuggets, fish nugget, prawn nugget, beef
nugget with brand 'SO GOOD', bone in marinated chicken), all with Halal
certification. Shrimp division with all related shrimp industries, such as
shrimp feed, shrimp pond, hatchery, cold storage as well as shrimp value added
products (ready cooked shrimp in soup, shrimp hakau, tempura ebi).
Beef and milk division, modern integrated dairy farm with
milk processing pack in UHT Tetra pack (with brand 'Yahuii' and 'GREENFIELDS').
Consumer product, producing butter cookies (with brand 'Zuka', 'HOLLANDA'), et
The consumer Business Division P.T. SGF was formed in late
1996 as a strategic business unit of Japfa Comfeed Indonesia Tbk. The intention
is for this Division to act as a strategic change agent to initiate and create
the necessary evolutionary momentum to achieve Japfa’s vision of becoming a
mainstream food company. Although only established recently, the Division has
already acquired some traditional regional household brands including
‘Hollanda’ for biscuit products, ‘Miami’ for confectionary products and ‘Fresh’
& ‘Orson’ for beverage products. To complement these established brands, it
is also developing a distribution network for some new brands including ‘So
Good’ for value added meat products and ‘Greenfields and Yahuii’ for dairy
products. With 7 manufacturing sites located close to major population centers,
the Divison markets and sells it products through its own distribution network
of 4 regional sales branches, servicing directly or indirectly some 250,000
retail customers spread across 25 primary and 117 secondary cities within the
archipelago of Indonesia. In addition it has exported to over 30 countries.
To effectively supplement its distribution and sales
penetration through traditional distribution channel, P.T. SGF has recently invested
in the development of an innovative end-user-direct distribution channel in
Indonesia. This enables the division to effectively market its products
directly to consumers within large population catchment areas in and around the
primary cities of the Java islands. This development is driven primarily by the
need for a shorter distribution channel for the efficient marketing of frozen
and chilled products (value added processed meat products) and fresh or short
shelf life products (bakery goods and dairy products). P.T. SGF products
marketed through Carrefour, 7 Eleven, K Market, Alfa, Kem Chiks, Yogya, Mini
Mart, Food Hall, Foodmart, Hari Hari, Ranch & Market, Indomaret, Yomart,
Giant, Super Indo, and others.
Besides, P.T. SGF is also engaged in investment holding
by controls and holds 99.60% shares of P.T. SEPTATRADA HARDAGUNA a national
private company dealing with biscuits & cookies manufacturing; 99.99%
shares of P.T. SO GOOD FOOD MANUFACTURING a national private company dealing
with food processing. We observe the operation of P.T. SGF has been growing and
developing well in the last three years.
Generally we find that food industries in the country had
been growing by 10% to 12% per year within the last five years until 2010 in
line with the increasing income of the people and rising demand for export. The
long-term prospect of snack food, biscuit product, health drink is favorable.
However, the competition is very tight on account of many similar companies
operating in the country. The company has competitors not only from the local
products but also the imported ones. The long-term prospect of the company is
favorable once unstable economic condition starts recovery. Business position
of P.T. SGF remains quite well for it has controlled a wide export network and
the products have been widely known in the country.
Legal
Matters
We have observed to the Court in
Indonesia, P.T. SGF has involved in disputes below:
a.
On
August 3, 2004, the Company, as the plaintiff, filed a lawsuit against Dede Rohaeti,
as the defendant, in the capacity of Ade Sanjaya’s agent/Tangerang agent, and
has been registered at the Tangerang District Court No. 190/Pdt.G/2004/PN.Tng.
This lawsuit relates to Company’s finished goods sold to and has not been paid
by Dede Rohaeti amounting to Rp 358,673,328. Further, Dede Rohaeti has pledged
a land certificate to Bank Mandiri which has been previously pledged to the
Company.
On January 6, 2005, the Chief Judge of
Tangerang District Court, Zainal Arifin, S.H., M.H., issued his decision in
favor of the Company, wherein, he ordered the guarantee of a parcel of land and
building owned by the defendant which is located at Ciepeuncang village, RT
03/RW 04, No. 1, Serpong Village, Serpong Subdistrict, Tangerang; declared that
the defendant is liable to the plaintiff in the amount of Rp 228,130,259; and
ordered the defendant to pay in cash his payable to the plaintiff in the amount
of Rp 228,130,259 plus interest of 12% per annum, among others.
Based on the above decision, Dede
Rohaeti submit an appeal on June 23, 2005, the Chief Judge of Banten High
Court, H. Sanim Djarwadi, S.H., issued decision No. 10/Pdt/2005/PT.BTN, which
stated that the lawsuits filed by the plaintiff are not acceptable; declared
that guarantee order placed on a parcel of land and building owned by the
defendant, which is located at Ciepeuncang village, RT 03/RW 04, No. 1, Serpong
Village, Serpong Subdistrict, Tangerang, was null and void; ordered Tangerang
District Court to cancel the guarantee; and ordered the plaintiff to pay the
first level lawsuit fee in the amount of Rp 769,000 and for the appeal level in
the amount of Rp 300,000.
In lieu of such decision, the Company
filed an appeal with case No. 60/Pdt.G/2008/PN.TNG. in 2008. On February 11,
2009, Tangerang District Court Accepted the lawsuit of the Company with
punishment of the defendant to pay debts in cash amounting to Rp 247,066,133
plus interest of 12% per annum since September 2003 until fully paid. On May 5,
2009, the defendant filed on appeal to the Supreme Court of RI. Based on
official copy of the civil lawsuit verdict No.
1652k/Pdt/2009.JO.No.60/Pdt.6/2008/PN/TNG which authority granted to the
defendant, appeal on April 24, 2012 mentioned that the appeal was not accepted
by the Supreme Court on August 24, 2010.
b.
On
October 27, 2005, the Company as plaintiff filed a lawsuit against Primadi, in
the capacity of Prima Agency’s owner, as Defendant I and Andre Herawan as
Defendant II. The lawsuit has been registered at the West Jakarta District
Court No. 414/Pdt/G/2005/PN.JktBar. This lawsuit filed relates to unpaid
payables of the defendant to the plaintiff for chicken nugget product “So Good”
amounting to Rp 167,635,590 which should have been paid on September 20, 2005.
On April 19, 2006, the District Court of West Jakarta stated that the lawsuit
claimed by the Company was not accepted.
The Company appealed
to the High Court of DKI Jakarta through the Decision Letter No.
360/Pdt/2008/PT.DKI dated November 6, 2008, which accepted the lawsuit of the
Company with punishment of the defendants I and II to pay debts in cash
amounting to Rp 167,635,590 plus interest of 6% per annum since the lawsuit was
registered in the district court of West Jakarta. Defendants I and II filed an
appeal to the Supreme Court of RI upon the decision of the High Court by the
Jakarta administration. Although there has been no ruling from the Supreme
Court of RI, the parties agreed to resolve this case thorough peace settlement
by signing the Peaceful Act of Civil Matters No. 414/Pdt/G/2005/PN.Jkt.Bar No.
71, dated November 30, 2010, made by the Notary Arsin Effendy, S.H. As of the
date of completion of the financial statements, the appeal is still in process.
c.
In
2001, CV Maju Makmur has filed a lawsuit against the Company which was in
default in a Civil case No. 731/Pdt.G/2011/PN.Jkt.Bar. The Company was sued for
a deceptive employee of the Company who acted without permission, right and
authority from the Company, ordered and received goods from CV Maju Makmur for
her own interest, which resulted to a loss in CV Maju Makmur amounting to Rp
485,490,000. On May 31, 2012, West Jakarta District Court declared that the
lawsuit of CV Maju Makmur is not acceptable.
d.
In
2011, the Company was sued (as Defendant II) by PT Sahabat Sumber Sejahtera, PT
Sinar Sakti Sejati and CV Bahtera Perkasa Mandiri (plaintiffs) in Civil Case
No. 822/Pdt.G/2011/PN.Jkt.Bar. The Company was sued for a deceptive employee of
the Company who acted without permission, right and authority from the Company,
ordered and received goods from PT Sahabat Sumber Sejahtera, PT Sinar Sakti
Sejati and CV Bahtera Perkasa Mandiri for her own interest, which resulted to a
loss in PT Sahabat Sumber Sejahtera, PT Sinar Sakti Sejati and CV Bahtera
Perkasa Mandiri amounting to Rp 2,100,300,000. West Jakarta District Court
accepted a part of the lawsuit of the plaintiffs. The Company filed an appeal.
As of the date of completion of the financial statements, the judicial process
is still ongoing.
According to financial statement of P.T. SGF as per 31
December 2012 the sales turnover of has amounted of Rp. 2,442.5 billion with a
net profit of at least Rp. 115.4 billion increased to Rp. 2,531.1 billion with
a net profit of at least Rp. 99.9 billion in 2013. We estimated the sales
turnover of the company in 2014 amounted at Rp. 2,670.0 billion with a net
profit of at least Rp. 133.5 billion and projected to go on rising by at least
5% in 2015. We observe that P.T. SGF is supported by JAPFA COMFEED Group a
large sized business group with has financially strong and sound behind it. So
far, we did not heard that the company having been black listed by the Central
Bank (Bank Indonesia). The company usually pays its debts punctually to
suppliers. The financial figures of 31 December 2012 and 2013 is attached
below:
(In million Rp)
|
Descriptions |
31 December |
|
|
2013 |
2012 |
|
|
A. ASSETS |
|
|
|
a. Current Assets |
1,289,020 |
1,144,940 |
|
b. Non Current
Assets |
551,355 |
396,219 |
|
c. Other Assets |
- |
- |
|
TOTAL ASSETS =
TOTAL LIABILITIES & EQUITY |
1,840,375 |
1,541,159 |
|
B. LIABILITIES &STOCKHOLDERS EQUITY |
|
|
|
a. Current
Liabilities |
727,631 |
539,645 |
|
b. Non Current Liabilities |
293,719 |
228,376 |
|
c. Stockholder’s
Equity : - Paid Up
Capital - Additional
Paid-in capital - Retained
Earnings Total
Stock holder’s Equity |
500,000 (17,248) 336,273 819,025 |
500,000 (17,248) 290,386 773,138 |
|
C. INCOME STATEMENT |
|
|
|
a. Sales Net |
2,531,124 |
2,442,493 |
|
b. Income From
Operation |
121,391 |
154,279 |
|
c. Net Profit
(loss) |
99,992 |
115,436 |
Notes: 31
December 2012 and 2013 by KAP Mulyamin Sensi Suryanto & Lianny (Moores &
Stephens)
The management of P.T. SGF is led by Mr. Dirk Budianto
Wahjudi Djatmiko (53) a businessman and professional manager with experience in
trading, marketing and distribution of consumer food products. The company's
management is handled by professional staff in the above business. They have
wide relations with private businessmen within and outside the country. So far, we did not hear that the management of the company
being filed to the district court for detrimental cases or involved in any
business malpractices. We are convinced that P.T. SO GOOD FOOD is
considered to be quite good for business transaction.
List the JAPFA COMFEED Group Members
1.
ARTHA
LAUTAN MULYA, P.T. (Shrimp Culture)
2.
BUMI
ASRI LESTARI, P.T. (Shrimp Culture)
3.
CIOMAS
ADISATWA, PT. (Chicken Farming and Investment Holding)
4.
EMKL
BINTANG LAUT TIMUR, P.T. (Shipping and Freight Forwarding)
5.
INDOJAYA
AGRINUSA, P.T. (Poultry Breeding and Poultry Feed Processing)
6.
JAPFA
COMFEED INDONESIA, P.T. (Animal Feed Milling and Investment Holding)
7.
JAPFA
COMFEED LONG AN Ltd., China (Trading)
8.
JAPFA
COMFEED VIETNAM Ltd., Vietnam (Trading and Poultry Breeding)
9.
JAPFA
COMFEED INDIA Ltd., India (Trading and Poultry Breeding)
10.
JAPFAFOOD
NUSANTARA, PT. (Food Processing Industry)
11.
JAPFAFOOD
SENTRA DISTRIBUSI, P.T. (Distribution of Animal Feed)
12.
JAPFA
SANTORI INDONESIA, P.T. (Food Processing Industry)
13.
JAPFA
INDOLAND, P.T. (Real Estate Management)
14.
JAPFA
INTITRADA, P.T. (General Trading)
15.
JAVA
CITRA INDONUSA, P.T. (Shipping Services)
16.
KARYA
CIPTANYATA WISESA, P.T. (Beverage Processing)
17.
KRAKSAAN
WINDU, P.T. (Shrimp Culture)
18.
LINDONESSIA
PELLETING, P.T. (Pellet Industry)
19.
MATRIKSTAMA
ANDALAN MITRA, P.T. (General Construction Services)
20.
MILLENIA
PROSPERINDO OPTIMA, P.T. (Investment Holding)
21.
MULTIPHALA
AGRINUSA, P.T. (Agribusiness Industry)
22.
OMETRACO
ARYA SAMANTA, P.T. (General Trading and Contracting Services)
23.
OMETRACO
INFRACITI, P.T. (Investment Holding)
24.
PADMA
TERANG SENTOSA, P.T. (Investment Holding)
25.
PAN
PACIFIC INSURANCE, P.T. (Lost Insurance Services)
26.
SANTOSA
AGRINDO, P.T. (Investment Holding)
27.
SEPTATRADA
HARDAGUNA, P.T. (Food Processing Industry)
28.
SINAR
MITRA SEPADAN FINANCE, P.T. (Multi Finance Services)
29.
SO
GOOD FOOD, P.T. (Trading, Distribution of Food Products and Investment Holding)
30.
SUPRA
ANEKA BOGA, P.T. (Food Processing Industry)
31.
SURI
TANI PEMULA, P.T. (Shrimp Freezing, Chicken Freezing and Flake Ice)
32.
WABIN
JAYATAMA, P.T. (Plantation and Farming)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.75 |
|
UK Pound |
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.74.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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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.