|
Report No. : |
341510 |
|
Report Date : |
24.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.T. NESTLE INDONESIA |
|
|
|
|
Registered Office : |
Wisma
Nestle Arcadia Office Park, Blok B 5th Floor, Jalan T.B. Simatupang Kav. 88, Jakarta Selatan 12520 |
|
|
|
|
Country : |
Indonesia
|
|
|
|
|
Date of Incorporation : |
29.12.2000 |
|
|
|
|
Com. Reg. No.: |
AHU-AH.01.10-11542 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
· Instant Noodle Manufacturing · Coffee Processing · Confectionery Manufacturing · Food and Beverage Processing Industry · Cans Manufacturing |
|
|
|
|
No. of Employees : |
3,016 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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) |
|
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 |
BASIC SEARCH
|
Name
of Company :
P.T. NESTLE INDONESIA
A
d d r e s s :
Head
Office
Wisma
Nestle Arcadia Office Park, Blok B 5th Floor
Jalan T.B. Simatupang Kav. 88
Jakarta Selatan 12520
Indonesia
Phones -
(62-21) 7883 6000 (Hunting)
Fax - (62-21) 7883 6001
Email - ali.maulahela@id.nestle.com
Website - http://www.nestle.co.id
Building Area - 24 storey
Office Space - 2,500 sq. meters
Region - Commercial
Status - Rent
Factories
a.
Kejayaan
Factory
Jalan
Raya Pasuruan – Malang Km. 9.5
Desa Tambero Kejayaan
Pasuruan
East Java
Indonesia
Phones - (62-343) 421005-07
Fax -
(62-343) 421424
Land Area - 20,000 sq. meters
Building Area - 15,500 sq. meters
Region - Industrial Zone
Status - Owned
b.
Cikupa
Factory
Jalan Raya Serang Km. 12
Cikupa, Tangerang
Banten Province
Indonesia
Phones - (62-21) 596 1253, 596 0457
Fax -
(62-21) 596 0458
Land Area - 18,000 sq. meters
Building Area - 12,500 sq. meters
Region -
Industrial Zone
Status - Owned
c. Panjang
Factory
Jl. Raya Bakauheni Km. 13
Serongsom, Bandar Lampung
Lampung Province
Indonesia
Phones - (62-721) 31253
(Hunting)
Fax - (62-721) 31430
Land Area - 25,000 sq. meters
Building Area - 17,600
sq. meters
Region - Industrial Zone
Status - Owned
d. Karawang
Factory (planned)
Kawasan Industry Surya Cipta
Karawang, Bekasi
West Java
Indonesia
Phones - (62-21) none
Fax - (62-21) none
Land Area - 28 hectares
Building Area - 12
hectares
Region - Industrial Estate
Status - Rent
Date of Incorporation
:
a. 20 April 1981 as
P.T. SUPMI
b. 13 April 1982 as
P.T. SUPMI SAKTI
c. 29 December 2000
as P.T. NESTLE INDONESIA
Legal Form :
P.T. (Perseroan
Terbatas) or Limited Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
a. No.
C-14524.HT.01.04.TH.2003
Dated 25 June 2003
b. No. AHU-84643.AH.01.02.Tahun 2008
Dated 12 November 2008
c. No.
AHU-AH.01.10-11014
Dated 22 June 2009
d. No.
AHU-36892.AH.01.02.Tahun 2011
Dated 22 July 2011
e. No.
AHU-AH.01.10-33169
Dated 14 October 2011
f. No.
AHU-AH.01.10-21179
Dated 12 June 2012
g. No.
AHU-AH.01.10-11542
Dated 18 March 2014
Company
Status :
Foreign
Investment (PMA) Company
Permits by the Government Department :
a. The Department of Finance
NPWP No. 01.308.948.7-092.000
b. The Capital Investment Coordinating
Board
- No. 05/V/PMA/1995
Dated 21 February 1995
- No. 110/II/PMA/1996
Dated 17 July 1996
- No. 1799/III/PMA/2000
Dated 8 December 2000
- No. 1651/III/PMA/2001
Dated 7 December 2001
- No. 222/II/PMA/2002
Dated 17 October 2002
- No. 340/III/PMA/2003
Dated 3 April 2003
- No. 08/II/PMA/2004
Dated 29 January 2004
Affiliated/Associated
Companies :
a.
NESTLE S.A., Switzerland (Food & Beverages Processing Industry and
Investment Holding)
b.
P.T. SUMBER SELATAN NUSA (Investment Holding)
c.
P.T. Perusahaan Dagang MUARA (Investment Holding)
CAPITAL AND OWNERSHIP
|
Capital
Structure :
Authorized
Capital - Rp.
152,753,440,000.-
Issued
Capital -
Rp. 152,753,440,000.-
Paid
up Capital -
Rp. 152,753,440,000.-
Shareholders/Owners
:
a. NESTLE S.A. - 90.24%
Address : CH-1800 Vevey
Swiss
Switzerland
b. P.T. SUMBER SELATAN NUSA -
7.31%
Address : Jl. Tanah Abang III No. 20
Jakarta Pusat
Indonesia
c. P.T. Perusahaan Dagang MUARA - 2.45%
Address : Jl.
Jababeka XI Blok K No. 10-G
Bekasi, West Java
Indonesia
BUSINESS ACTIVITIES
|
Lines
of Business :
a.
Instant Noodle Manufacturing
b.
Coffee Processing
c.
Confectionery Manufacturing
d.
Food and Beverage Processing Industry
e.
Cans Manufacturing
Production
Capacity :
a.
Instant Noodles - 84,762 tons p.a.
b.
Culinary - 1,000 tons p.a.
c.
Spices (co-packing) - 4,000 tons p.a.
d.
Sweets - 9,190 tons p.a.
e.
Sweetened Condensed Milks - 5
million cases p.a.
f. Sterilized Milks -
5,600 tons p.a.
g.
Chocolate/Malt Powder Milks/
Milks Soya Powders - 120,570 tons p.a.
h.
Cereals - 4,400 tons p.a.
i. Seasoning, Bouillon Cubes &
other Culinary Preparations -
2,500 tons p.a.
j. UHS Milks - 32,000 tons p.a.
k.
Instant Tea Mix Powders - 3,000 tons p.a.
l. Instant Coffee/Coffee Mix -
21,074 tons p.a.
m.
Non Dairy-Creamers - 2,500 tons p.a.
n.
Cans -
400 million cans p.a.
Total
Investment :
a.
Equity Capital -
Rp. 60.0 million
b.
Loan Capital -
Rp. 849.6 billion
c.
Total Investment -
Rp. 909.6 million
Started
Operation :
1982
Brand
Name :
Nestle,
Dancow, Milo, Cerelac, Maggie, Kit Kat, Smarties.
Technical
Assistance :
NESTLE
S.A. of Switzerland
Number
of Employee :
3,016
persons
Marketing
Area :
Domestic (Local) - 80%
Export - 20%
Main
Customers :
a.
Distributors
b.
Hypermarket, Supermarket, Mini Markets and others
Market
Situation :
Very
Competitive
Main
Competitors :
a.
P.T. INDOFOOD SUKSES MAKMUR Tbk
b.
P.T. SIANTAR TOP Tbk
c. P.T. ULTRA PRIMA ABADI
d.
P.T. SUNTORY FOOD
e.
P.T. TIGAPILAR SEJAHTERA FOOD Tbk
f. Etc.
Business
Trend :
Growing
BANKER, AUDITOR & LITIGATION
|
B a n k e r s :
a. P.T. Bank MANDIRI Tbk
Plaza
Mandiri
Jalan Imam
Bonjol No. 61
Jakarta Pusat
Indonesia
b. P.T. Bank PERMATA Tbk
Permata Plaza
Jalan Hayam
Wuruk No. 84-85
Jakarta Pusat
Indonesia
c.
P.T. Bank CIMB NIAGA Tbk
CIMB Niaga Plaza
Jalan M.H.
Thamrin No. 55
Jakarta Pusat
Indonesia
d.
P.T. Bank DANAMON INDONESIA Tbk
Danamon Aetna Building
Jalan Jend. Sudirman 45
Jakarta Pusat
Indonesia
Auditor
:
Internal
Auditor
Litigation
:
No
litigation record in our database
FINANCIAL FIGURE
|
Annual
Sales (estimated) :
2011
– Rp. 9,210.0 billion
2012
– Rp. 10,220.0 billion
2013
– Rp. 11,090.0 billion
2014
– Rp. 12,066.0 billion
2015
– Rp. 6,560.0 billion (January – June)
Net
Profit (estimated) :
2011
– Rp. 460.0 billion
2012
– Rp. 508.0 billion
2013
– Rp. 550.0 billion
2014
– Rp. 590.0 billion
2015
– Rp. 320.0 billion (January – June)
Total
Assets (estimated) :
2011
– Rp. 1,230.0 billion
2012
– Rp. 1,280.0 billion
2013
– Rp. 1,430.0 billion
2014
– Rp. 1,520.0 billion
2015
– Rp. 1,580.0 billion (January – June)
Payment
Manner :
Almost
Promptly
Financial
Comments :
Strong
and sound
KEY EXECUTIVES
|
Board
of Management :
President Director - Mr. Muhammad Arshad Chaudhry
Directors -
a. Mr. Riauadi Wisman Djaja
b. Mr. Joselito Junior Aguiling Avancena
c. Mr. Thomas Keller
d. Mr. Gideon Stefanus Du Plessis
e. Mr. Benyamin Wijaya
f. Mrs. Debora
Rukmawati Tjandrakusuma
g. Mr. Vaughan Barton Wappet
h. Mr. Welih Sutidjan
Board
of Commissioner :
President Commissioner - Mr. Doreswamy Nandkishore
Commissioners - a.
Mr. Jean Daniel Luthi
c.
Mr. Frederik Bernard George Tumbuan
d.
Mr. Ramos Sihombing
e.
Mr. James Daniel Tabalujan
f. Mr. Pierre Francois Streit
g.
Mr. Antonio Helio Waszyk
Signatories :
President Director (Mr. Muhammad Arshad Chaudhry) or
one of the Directors (Mr. Riauadi Wisman Djaja, Mr. Joselito Junior Aguiling Avancena,
Mr. Thomas Keller, Mr. Gideon Stefanus Du Plessis, Mr. Banyamin Wijaya and Mrs.
Debora Rukmawati Tjandrakusuma) which must be approved by President
Commissioner (Mr. Doreswamy Nandkishore)
and one of the commissioners.
CAPABILITIES
|
Management
Capability :
Good
Business
Morality :
Good
OVERALL PERFORMANCE
|
P.T. NESTLE INDONESIA was originally named
P.T. SUPMI it was established in April 1981 with an authorized capital of Rp. 250,000,000
issued capital of Rp. 50,000,000 wholly paid-up. Founders and original
shareholders are Mr. Kakan Sukandinata, Mr. Budi Sintoro, Mr. Nurdin Hasyim,
Mr. Samsi Jusuf and Mr. Bit Soetoyo. The company notary deed has been converted
for a couple of times. In April 1982,
the company was renamed to P.T. SUPMI SAKTI. In 1995, NESTLE S.A. of
Switzerland took over the company's 80% shares and its status changed into a
Foreign Investment Company. In September 1999, the authorized capital was
increased to Rp. 60,000,000,000 wholly issued and paid-up and concurrently its
shares entirely were takenover by NESTLE S.A., and SOPHORA S.A., of
Switzerland. In December 2000, P.T. NESTLE INDONESIA and P.T. NESTLE
CONFECTIONERY INDONESIA merged into P.T. SUPMI SAKTI and concurrently renamed
to P.T. NESTLE INDONESIA (P.T. NI) and the company has automatically dissolved
by Law.
Since September 2001 P.T. NESTLE BEVERAGES
INDONESIA and P.T. NESTLE DISTRIBUTION INDONESIA had been merged into P.T.
NESTLE INDONESIA and since then all assets and activities of both companies had
been taken over by P.T. NESTLE INDONESIA. The merger is effective as from 31
December 2001 and hence both merged companies were dissolved by law and since
then the whole shares had been controlled by NESTLE S.A, of Switzerland
(90.24%) and the rest is owned by P.T. SUMBER SELATAN NUSA (7.31%) and P.T.
Perusahaan Dagang MUARA (2.45%), both are national private companies.
Based on Notarial Deed of Mochamad Nova
Faisal, SH., No. 06 dated October 10, 2011, the authorized capital was raised
to Rp. 152,753,440,000.- entirely was issued and fully paid up. Since that time, the shareholders of the
company are NESTLES S.A., of Switzerland (90.24%), P.T. SUMBER SLATAN NUSA (7.31%)
and P.T. Perusahaan Dagang MUARA (2.45%), both of Indonesia. The amendment to Deed was approved by the
Minister of Law and Human Rights through its Decree No. AHU-AH.-01.10-33169
dated October 14, 2011. Then, based on
Notarial Deed of Misahardi Wilamarta, SH., No. 53 dated April 19, 2012 the
company board of commissioner had been changed, Mr. Reinhold Jakobi pulled out
and replaced by Mr. Low Kim Fui. The
amendment to Deed was approved by the Minister of Law and Human Rights in its
decision letter No. AHU-AH.01.10-21179 dated June 12, 2012.
The most recently in March 2014 by notarial
Deed of Mochamad Nova Faisal, SH., a notary in Jakarta the company board of
director and board of commissioner had been changed again. The amendment to Deed was approved
by the Minister of Law and Human Rights of the Republic of Indonesia through
Decree No. AHU-AH.01.10-11542 dated March 18, 2014. Since then, no changes have been effected in
term of its shareholding composition and capital structure to date.
P.T. NI started with operation in 1982 in
the frame work of Foreign Investment (PMA) facility engaged in the field of
instant noodle manufacturing whose plant located at Jalan Raya Serang Km. 17,
Desa Telaga, Cikupa, Tangerang (Banten Province). In December
2000 after the merger with P.T. NESTLE INDONESIA operating as from 1972
in food and beverages processing industry and P.T. NESTLE CONFECTIONERY
operating as from 1983 dealing with confectionery industry, P.T. NI
automatically took over the whole
assets and operation of both of P.T.
NESTLE INDONESIA's plants located respectively at Jalan Raya Waru No. 25,
Sidoarjo and at Jalan Raya Pasuruan-Malang Km. 9.5 (both in East Java) and P.T.
NESTLE CONFECTIONERY INDONESIA located at Jalan Raya Serang Km. 12, Cikupa
Tangerang (Banten Province).
Merger of P.T. NESTLE BEVERAGES INDONESIA
into P.T. NI had been made in December 2001, and since then P.T. NI manages the
plant of P.T. NESTLE BEVERAGES INDONESIA located at Jalan Raya Bakaheuni Km.12,
Serongsom, Panjang, Bandar Lampung, which had been operating since 1980 in
coffee processing industry. Since June 2000 the activities of P.T. NI's plant
located at Jalan Waru No.25, had been relocated gradually to its plant at Jalan
Raya Pasuruan-Malang, Km. 9.5, Tambero, Kejayan, Pasuruan, East Java, and it
completed in June 2002.
All of the three plants operated by P.T. NI
to date produce food stuff including instant noodles, sweets, sweetened
condensed milks, sterilized milks, chocolates, malt powders, cereals,
seasonings, instant coffees, instant
tea and culinary preparations. For further particular details about P.T. NI's
type of products are as shown on profile of this report. Most of the basic
materials are still imported from Australia, Germany, the People's Republic of
China, Canada and other countries. P.T.
NI's products are distributed under several brands including Maggie, Maggie
Mie, Fox's, Polo, Kit Kat, Smarties, Omega, Nestle, Dancow, Carnation, Cap
Nona, Nestum, Bonus, Cerelac, Caresol, Nan, Neslac Bear Brand, Chief, Coffee
Mate, Nescafe and others. At present,
around 80% of its products are marketed domestically while the rest 20% is
exported to the South East Asian Countries.
We observed that P.T. NI is classifiable as a major company in Indonesia
which is now controlling 42% of full cream milk powder market shares and 18% of
sweetened milk market shares in Indonesia.
In mid of 2011, P.T. NI built a new factory
at Industrial Estate Surya Cipta, Karachi (West Java) with an investment of
US$.200 million and was planned to be fully operational in early 2013.
According to the plan of the fourth factory of P.T. NI will produce chocolate
drink "Milo", baby food "Cerelac”, and formula powdered milk
"Dancow" with a production capacity of 65.000 tons per year. Mr.
Muhammad Arshad Chaudhry, president director of P.T. NI said the new factory
would need about 10,000 tons of cocoa powder per year and most of cocoa powder
need was used for producing chocolate beverage brand "Milo" which up
to now still supplied from Malaysia. Mr. Chaudhry added that the decision to
build the production center was based on increased consumption of Nestle
products in the country in line with rapid national economic growth.
But, on October 2011, P.T. NI announced on
Monday that the company had no plans to invest US$.200 million in cocoa
plantations in Indonesia. The statement was made following a news report
published in sourced from Antara news agency on Friday about the firm’s
investment plans, quoting Indonesian Cocoa Association (Askindo) chairman
Zulhefi Sikumbang. “PT Nestlé Indonesia does not have any plan to invest in a
cocoa plantation, as plantation is not our core business. Nestlé does not
have any plans to relocate any factory from Malaysia,” Nestle Indonesia public
relation head, Brata T. Hardjosubroto said in a statement made available to the Jakarta Post.
However, on July 2012, Nestlé S.A., the
world’s largest food and beverage company, will begin production at its fourth
plant in Karawang, West Java, in the first quarter of next year as construction
remains on schedule. The US$.200 million plant, which is located on a
28.8-hectare plot in Surya Cipta industrial estate, will initially begin making
Cerelac infant cereals in March next year, Nestlé Indonesia president director
Arshad Chaudhry said. The plant will
then begin producing Milo chocolate malt drinks in August next year, and in
April 2014, Dancow milk powder will also be produced at the Karawang plant, he
added. “The factory will be completed by
2014, which is in line with the schedule,” he said on the sidelines of a visit
to its factory in Kejayan, Pasuruan, East Java. The output of the plant, which
the firm earlier said would have a total production capacity of 65,000 tons,
would be mainly allocated for the domestic market where demand for various
dairy products grew by up to 12 percent per year, Chaudhry further said.
Cutting down imported raw materials
Indonesia’s dairy industry is facing the
problem of limited milk supply from local breeders. The increasing price of
animal feed and beef over the last couple of years are among the factors that
have caused the fresh milk supply challenge. The lucrative price of cow meat
can increase the probability of farmers selling their cows rather than
retaining them as dairy cows.
The limited fresh milk supply has forced
companies to import 75 percent of milk requirements from the US, Australia, New
Zealand and European countries to be able to secure production. To reduce this
dependency on imported raw materials, Nestlé has been working to find
alternatives for cattle feeding. Within the Partnership for Indonesia’s
Sustainable Agriculture (PISAgro) Dairy Working Group, the company—in a public
private partnership—is working on the improvement of cattle feeding and
providing information to dairy farmers on the benefits of corn silage as an
alternative supply for animal feed to increase fresh milk production. Corn
silage is an excellent animal feed because it contains a lot of protein, energy
and is easily digested. Since it was first launched in 2012, the project has
improved animal health, as well as productivity, by an average of 25 percent.
Until this time P.T. NI has not been
registered with Indonesian Stock Exchange, so that they shall not obliged to
announce their financial statement. Therefore, the company has no obligation to
publish financial statement publicly. We have checked to Department of Trade
and Industry and found that no financial statement has been reported. We observed that total sales turnover of the
company in 2012 amounted to Rp. 10,220.0 billion increased to Rp. 11,090.0
billion in 2013 and rose again to Rp. 12,066 billion in 2014. The operation in 2014 yielded an estimated
net profit of Rp. 590.0 billion and the company has an estimated total asset of
at least Rp. 1,580.0 billion. Its sales turnover projected to go on rising by
at least 6% in 2015. We observe that P.T. NI is supported by foreign partner of
Switzerland 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).
a. Criminal Check
Based information from Jakarta District
Police P.T. NESTLE INDONESIA has never involved in criminal report. Therefore
there is no criminal report that registered on the name of P.T. NESTLE
INDONESIA.
b. Bankruptcy Check
We have observed to the Commercial Court in
Indonesia, there is no bankruptcy report that registered on the name of P.T.
NESTLE INDONESIA. No found nationwide for the previous several years.
c. Past and Current Litigations
We have observed to the Court in Indonesia,
there is no litigation report that registered on the name of the Subject. P.T.
NESTLE INDONESIA is not engaged in any material litigation, claims and/or
arbitration, either as plaintiff or defendant and has no knowledge of any
proceedings, pending or threatened, or of any facts likely to give rise to any
proceedings which might materially and adversely affect the financial position
of business of companies.
No detrimental were found with the applicant
involved during the investigation. Based on some information from some reliable
sources, no detrimental records were found with the applicant involved during
the investigation. The company’s
litigation record is clean and it has not registered with the black list of
Bank of Indonesia.
Since October 2011, P.T. NESTLE INDONESIA’s
management is led by Mr. Muhammad Arshad Chaudhry (51), a professional manager
of Pakistan with has experienced for more than 17 years in the field instant
noodle manufacturing, food and beverages manufacturing and trade. In daily activities, he is assisted by six
directors namely Mr. Riauadi Wisman Djaja (62), Mr. Joselito Junior Aguiling
Avancena (42), Mr. Thomas Keller (47), Mr. Gideon Stefanus Du Plessis (55), Mr.
Benyamin Wijaya (51), Mrs. Debora Rukmawati Tjandrakusuma (56), Mr. Vaughan
Barton Wappet (49) and Mr. Welih Sutidjan (47). We observed that management’s
reputation in said business is sufficiently fairly good. The management is well
experienced and handles by professional managers both of the local and foreign
countries in the above business. They have wide relation with home and overseas
private businessmen as well as with government sectors. So far, we did not hear
that the company’s management involved in business malpractices or detrimental
cases that settled in the country. The company’s litigation record is clean and
it has not registered with the black list of Bank of Indonesia.
P.T. NESTLE INDONESIA is sufficiently fairly
good for business transaction. However,
in view of the economic condition in the country is still unstable and
slowdown, we recommend to treat prudently in extending any new loan to the
company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.97 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
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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.