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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

486194

Report Date :

16.01.2018

 

IDENTIFICATION DETAILS

 

Name :

BIREME GROUP (M) SDN. BHD.

 

 

Registered Office :

No. 16-1 Jalan Kuchai Maju 16, Kuchai Entrepreneurs Park, Jalan Kuchai Lama, 58200 Kuala Lumpur, Wilayah Persekutuan

 

 

Country :

Malaysia

 

 

Date of Incorporation :

20.12.2016

 

 

Com. Reg. No.:

1212905-D

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

The subject is principally engaged in the trading of industrial machinery and supplies for oil and gas.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

 

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

Maximum Credit Limit :

MYR 32,000 (USD 8,000)

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

(30.06.2017)

Current Rating

(30.09.2017)

Malaysia

A2

A2

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

MALAYSIA - ECONOMIC OVERVIEW

 

Malaysia, an upper middle-income country, has transformed itself since the 1970s from a producer of raw materials into a multi-sector economy. Under current Prime Minister NAJIB, Malaysia is attempting to achieve high-income status by 2020 and to move further up the value-added production chain by attracting investments in high technology, knowledge-based industries and services. NAJIB's Economic Transformation Program is a series of projects and policy measures intended to accelerate the country's economic growth. The government has also taken steps to liberalize some services sub-sectors. Malaysia is vulnerable to a fall in world commodity prices or a general slowdown in global economic activity.

 

The NAJIB administration is continuing efforts to boost domestic demand and reduce the economy's dependence on exports. Domestic demand continues to anchor economic growth, supported mainly by private consumption, which accounts for 53% of GDP. Nevertheless, exports - particularly of electronics, oil and gas, and palm oil - remain a significant driver of the economy. In 2015, gross exports of goods and services were equivalent to 73% of GDP. The oil and gas sector supplied about 22% of government revenue in 2015, down significantly from prior years amid a decline in commodity prices and diversification of government revenues. Malaysia has embarked on a fiscal reform program aimed at achieving a balanced budget by 2020, including rationalization of subsidies and the 2015 introduction of a 6% value added tax. Sustained low commodity prices throughout the period not only strained government finances, but also shrunk Malaysia’s current account surplus and weighed heavily on the Malaysian ringgit, which was among the region’s worst performing currencies during 2013-17. The ringgit hit new lows following the US presidential election amid a broader selloff of emerging market assets.

 

Bank Negara Malaysia (the central bank) maintains adequate foreign exchange reserves; a well-developed regulatory regime has limited Malaysia's exposure to riskier financial instruments, although it remains vulnerable to volatile global capital flows. In order to increase Malaysia’s competitiveness, Prime Minister NAJIB raised possible revisions to the special economic and social preferences accorded to ethnic Malays under the New Economic Policy of 1970, but retreated in 2013 after he encountered significant opposition from Malay nationalists and other vested interests. In September 2013 NAJIB launched the new Bumiputra Economic Empowerment Program, policies that favor and advance the economic condition of ethnic Malays.

 

Malaysia signed the 12-nation Trans-Pacific Partnership (TPP) free trade agreement in February 2016, although the future of the TPP remains unclear following the US withdrawal from the agreement. Along with nine other ASEAN members, Malaysia established the ASEAN Economic Community in 2015, which aims to advance regional economic integration.

 

Source : CIA

 

 

 

 

EXECUTIVE SUMMARY

 

REGISTRATION NO.

:

1212905-D

COMPANY NAME

:

BIREME GROUP (M) SDN. BHD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

20/12/2016

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

NO. 16-1 JALAN KUCHAI MAJU 16, KUCHAI ENTREPRENEURS PARK, JALAN KUCHAI LAMA, 58200 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

BUSINESS ADDRESS

:

NO. 12 JALAN EKOPERNIAGAAN 1/27 TAMAN EKOPERNIAGAAN ECO BUSINESS PARK 1, 81100 JOHOR BAHRU, JOHOR, MALAYSIA.

TEL.NO.

:

07-5550987

FAX.NO.

:

07-5550982

CONTACT PERSON

:

CHUA POH LEE ( DIRECTOR )

INDUSTRY CODE

:

46594

PRINCIPAL ACTIVITY

:

TRADING OF INDUSTRIAL MACHINERY AND SUPPLIES FOR OIL AND GAS

AUTHORISED CAPITAL

:

MYR 400,000.00 DIVIDED INTO 
ORDINARY SHARE 400,000.00 OF MYR 1.00 EACH.

ISSUED AND PAID UP CAPITAL

:

MYR 150,000.00 DIVIDED INTO 
ORDINARY SHARES 150,000 CASH OF MYR 1.00 EACH.

SALES

:

N/A

NET WORTH

:

N/A

STAFF STRENGTH

:

N/A

LITIGATION

:

CLEAR

DEFAULTER CHECK

:

CLEAR

FINANCIAL CONDITION

:

N/A

PAYMENT

:

UNKNOWN

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

HIGH

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

PROPOSED CREDIT LIMIT

:

MYR 32,000 (USD 8,000)

 

 

HISTORY / BACKGROUND

 

The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject shall have a minimum one director. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act, 1965 and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The subject is principally engaged in the (as a / as an) trading of industrial machinery and supplies for oil and gas.

The subject is not listed on Bursa Malaysia (Malaysia Stock Exchange).

 

Former Address(es)

Address

As At Date

ECO BUSINESS PARK 1, NO 12, JALAN KOPERNIAGAAN 1/27, 81100, JOHOR, MALAYSIA

N/A

 

Share Capital History

Date

Authorised Shared Capital

Issue & Paid Up Capital

24/03/2017

MYR 400,000.00

MYR 150,000.00

22/12/2016

MYR 400,000.00

MYR 100.00

 

The major shareholder(s) of the Subject are shown as follows :


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

MS. CHUA POH LEE +

NO. 10 JALAN PP 4/14, TAMAN PUTRA PRIMA, 47130 PUCHONG, SELANGOR, MALAYSIA.

730419-14-5052 A2520520

50.00

0.03

MR. LIM ZHI CHUAN +

NO. 33 JALAN JAYA MAS 8, TAMAN JAYA MAS, 81300 SKUDAI, JOHOR, MALAYSIA.

870409-04-5263

50.00

0.03

BIREME GROUP PTE. LTD.

63 UBI AVE 1, #06-05, 408937

XLZ00227143

149,900.00

99.93

---------------

------

150,000.00

100.00

============

=====

 

+ Also Director

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

TAN CHENG HOE

Address

:

BLK 1001 BUKIT TIMAH ROAD #07-16, 596288, SINGAPORE.

IC / PP No

:

E6315510N

Date of Appointment

:

20/12/2016



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

none in our databank

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

1212905D

BIREME GROUP (M) SDN. BHD.

Director

20/12/2016

0.00

-

-

-

-

26/12/2017

 

DIRECTOR 2

 

Name Of Subject

:

MS. CHUA POH LEE

Address

:

NO. 10 JALAN PP 4/14, TAMAN PUTRA PRIMA, 47130 PUCHONG, SELANGOR, MALAYSIA.

IC / PP No

:

A2520520

New IC No

:

730419-14-5052

Nationality

:

MALAYSIAN

Date of Appointment

:

20/12/2016



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

see below

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

1212905D

BIREME GROUP (M) SDN. BHD.

Director

20/12/2016

50.00

0.03

-

-

-

26/12/2017


INTEREST IN BUSINESS

No

Local No

Business

Designation

App Date

Shareholding (%)

Status

As At

1

002063293X

CPL ONE ENTERPRISE

SOLE PROPRIETORSHIP

17/08/2011

100.00

-

26/12/2017

 

DIRECTOR 3

 

Name Of Subject

:

MR. LIM ZHI CHUAN

Address

:

NO. 33 JALAN JAYA MAS 8, TAMAN JAYA MAS, 81300 SKUDAI, JOHOR, MALAYSIA.

New IC No

:

870409-04-5263

Date of Birth

:

09/04/1987

Nationality

:

MALAYSIAN

Date of Appointment

:

20/12/2016



INTEREST CHECK

Interest in companies

:

see below

Interest in business

:

see below

Former interest

:

none in our databank

INTEREST IN COMPANY

No

Local No

Company

Designation

App Date

Shareholding

Profit/(loss) After Tax

Financial Year

Status

As At

No.

%

1

1212905D

BIREME GROUP (M) SDN. BHD.

Director

20/12/2016

50.00

0.03

-

-

-

26/12/2017


INTEREST IN BUSINESS

No

Local No

Business

Designation

App Date

Shareholding (%)

Status

As At

1

JM0721019T

HOLIZON STATION ENTERPRISE

SOLE PROPRIETORSHIP

05/04/2015

100.00

-

26/12/2017

2

JM0613838T

ISTREET SOLUTION

PARTNERSHIP

16/01/2012

1.00

-

26/12/2017

3

JM0643566T

LEC ENTERPRISE

PARTNERSHIP

01/01/2013

33.00

-

26/12/2017

4

MA0171999K

TTL STATION ENTERPRISE

PARTNERSHIP

29/06/2012

11.00

-

26/12/2017



MANAGEMENT

 

 

1)

Name of Subject

:

CHUA POH LEE

Position

:

DIRECTOR

 

AUDITOR


No Auditor found in our databank 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MS. LAU NYOK BEE

IC / PP No

:

7212474

New IC No

:

640119-01-5564

Address

:

72,LORONG BANDAR TIGA, JALAN KELANG LAMA, 58100 KUALA LUMPUR, WILAYAH PERSEKUTUAN, MALAYSIA.

 

BANKING


No Banker found in our databank. 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation. 

 

LITIGATION CHECK - SUBJECT COMPANY AS A DEFENDANT


* A check has been conducted in our databank against the Subject whether the Subject has been involved in any litigation. Our databank consists of 99% of the wound up companies in Malaysia.

No legal action was found in our databank.

No winding up petition was found in our databank.

DEFAULTER CHECK AGAINST SUBJECT


* We have checked through the Subject in our defaulters' database which comprised of debtors that have been blacklisted by our customers and debtors that have been placed or assigned to us for collection. 

No blacklisted record & debt collection case was found in our defaulters' databank. 

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

MALAYSIA

Overseas

:

NO

Credit Term

:

N/A

Payment Mode

:

CHEQUES

 

OPERATIONS

 

Goods Traded

:

INDUSTRIAL MACHINERY AND SUPPLIES FOR OIL AND GAS

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading of industrial machinery and supplies for oil and gas. 

The Subject refused to disclose its operation. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

07-5550987

Match

:

N/A

Address Provided by Client

:

ECO BUSINESS PARK 1; NO 12, JALAN KOPERNIAGAAN 1/27 81100 TAMAN EKOPERNIGAAN

Current Address

:

NO. 12 JALAN EKOPERNIAGAAN 1/27 TAMAN EKOPERNIAGAAN ECO BUSINESS PARK 1, 81100 JOHOR BAHRU, JOHOR, MALAYSIA.

Match

:

YES

Latest Financial Accounts

:

NO

 

Other Investigations


We contacted one of the staff from the Subject and he provided soe information.

He refused to disclose the number of employees and bankers.


FINANCIAL ANALYSIS

 

No latest financial accounts are available at the Registry Office, thus we are not able to comment on the Subject's financial performance.

Overall financial condition of the Subject : N/A

 

 

MALAYSIA ECONOMIC / INDUSTRY OUTLOOK

 

Major Economic Indicators:

2014

2015

2016

2017*

2018**

Population ( Million)

30.0

31.0

31.6

32.1

32.9

Gross Domestic Products ( % )

6.0

4.6

4.2

5.5

5.3

Domestic Demand ( % )

6.4

6.2

6.3

-

-

Private Expenditure ( % )

7.9

6.9

7.8

10.6

10.0

Consumption ( % )

6.5

6.1

5.1

-

-

Investment ( % )

12.0

8.1

10.0

12.0

-

Public Expenditure ( % )

2.3

4.2

3.3

-

-

Consumption ( % )

2.1

4.3

2.0

-

-

Investment ( % )

2.6

(1.0)

1.1

-

-

Balance of Trade ( MYR Million )

82,480

91,577

88,145

94,593

96,993

Government Finance ( MYR Million )

(37,414)

(37,194)

(38,401)

(39,887)

(39,790)

Government Finance to GDP / Fiscal Deficit ( % )

(3.4)

(3.2)

(3.1)

(3.0)

(2.8)

Inflation ( % Change in Composite CPI)

3.2

4.0

2.1

3.5

3.0

Unemployment Rate

2.9

3.1

3.4

3.4

3.3

Net International Reserves ( MYR Billion )

417

390

391

-

-

Average Risk-Weighted Capital Adequacy Ratio ( % )

4.00

3.50

-

-

-

Average 3 Months of Non-performing Loans ( % )

2.10

2.00

1.90

-

-

Average Base Lending Rate ( % )

6.85

6.79

6.81

-

-

Business Loans Disbursed( % )

18.6

2.2

-

-

-

Foreign Investment ( MYR Million )

43,486.6

43,435.0

-

-

-

Consumer Loans ( % )

-

-

-

-

-

Registration of New Companies ( No. )

49,203

45,658

43,255

-

-

Registration of New Companies ( % )

6.1

(7.2)

(5.3)

-

-

Liquidation of Companies ( No. )

11,099

7,066

-

-

-

Liquidation of Companies ( % )

(19.5)

(36.3)

-

-

-

Registration of New Business ( No. )

332,723

364,230

376,720

-

-

Registration of New Business ( % )

1.0

9.0

3.0

-

-

Business Dissolved ( No. )

21,436

-

-

-

-

Business Dissolved ( % )

18.0

-

-

-

-

Sales of New Passenger Cars (' 000 Unit )

588.3

591.3

514.6

527.8

-

Cellular Phone Subscribers ( Million )

44.0

44.2

44.0

-

-

Tourist Arrival ( Million Persons )

27.4

25.7

30.2

30.1

-

Hotel Occupancy Rate ( % )

63.6

58.8

61.2

-

-

Credit Cards Spending ( % )

5.8

6.8

6.3

-

-

Bad Cheque Offenders (No.)

-

-

-

-

-

Individual Bankruptcy ( No.)

22,351

18,457

-

-

-

Individual Bankruptcy ( % )

1.7

(17.4)

-

-

-



INDUSTRIES ( % of Growth ):

2014

2015

2016

2017*

2018**

Agriculture

2.0

1.3

(5.1)

5.6

2.4

Palm Oil

6.7

7.0

8.2

-

-

Rubber

(10.4)

(11.0)

(12.3)

-

-

Forestry & Logging

(4.2)

(7.2)

(4.8)

-

-

Fishing

2.7

2.1

2.9

-

-

Other Agriculture

6.2

6.0

6.8

-

-

Industry Non-Performing Loans ( MYR Million )

303.8

343.7

420.3

-

-

% of Industry Non-Performing Loans

1.4

1.5

1.8

-

-

Mining

3.3

5.3

2.2

0.5

0.9

Oil & Gas

3.0

3.5

4.5

-

-

Other Mining

46.6

47.1

42.6

-

-

Industry Non-performing Loans ( MYR Million )

63.5

180.1

190.0

-

-

% of Industry Non-performing Loans

0.3

0.8

0.8

-

-

Manufacturing #

6.1

4.9

4.4

5.5

5.3

Exported-oriented Industries

7.1

6.5

3.3

21.1

-

Electrical & Electronics

11.8

9.2

7.0

-

-

Rubber Products

(1.3)

5.1

3.9

-

-

Wood Products

7.8

7.0

7.0

-

-

Textiles & Apparel

10.8

7.5

6.7

-

-

Domestic-oriented Industries

7.7

4.7

3.0

-

-

Food, Beverages & Tobacco

6.1

8.9

7.5

-

-

Chemical & Chemical Products

1.4

3.5

5.1

-

-

Plastic Products

2.7

3.9

5.1

-

-

Iron & Steel

2.8

1.6

2.2

-

-

Fabricated Metal Products

2.8

4.6

5.1

-

-

Non-metallic Mineral

6.9

6.8

5.5

-

-

Transport Equipment

14.4

5.2

(3.1)

-

-

Paper & Paper Products

4.7

3.2

3.9

-

-

Crude Oil Refineries

13.0

14.3

13.7

-

-

Industry Non-Performing Loans ( MYR Million )

5,730.8

4,243.7

4,214.1

-

-

% of Industry Non-Performing Loans

25.6

19.0

18.5

-

-

Construction

11.7

8.2

7.4

7.6

7.5

Industry Non-Performing Loans ( MYR Million )

1,666.4

1,638.0

1,793.9

-

-

% of Industry Non-Performing Loans

7.5

7.3

7.9

-

-

Services

6.6

5.1

5.6

5.9

5.8

Electric, Gas & Water

3.8

3.6

5.4

2.5

2.6

Transport, Storage & Communication

7.70

7.55

6.85

7.35

7.30

Wholesale, Retail, Hotel & Restaurant

7.70

6.65

6.65

7.05

6.65

Finance, Insurance & Real Estate

5.15

2.90

4.70

5.70

5.90

Government Services

6.3

4.0

4.9

4.4

4.5

Other Services

4.8

4.7

4.8

5.3

5.3

Industry Non-Performing Loans ( MYR Million )

5,373.5

6,806.6

7,190.6

-

-

% of Industry Non-Performing Loans

24.1

30.5

31.5

-

-

* Estimate / Preliminary

** Forecast

# Based On Manufacturing Production Index 



INDUSTRY ANALYSIS

 

MSIC CODE

46594 : Wholesale of industrial machinery, equipment and supplies

INDUSTRY :

MACHINERY

Malaysia is presently the leading manufacturer of automation machinery and equipment (M&E) in the ASEAN region with a total of 22 companies in production. The machinery and equipment industry assumes an important role in the industrial development of the country, in view of its extensive linkages to major economic sectors, such as manufacturing, construction, transportation, mining and agriculture. The industry supports a large number of Small and Medium Enterprises (SMEs), which are capable of producing machinery and equipment for both domestic and export markets. In turn, the industry is supported by a wide range of important engineering services, which mainly involve SMEs.

Exports of machinery, appliances and parts continued to post double-digit growth of 14.3% driven largely by specialized machinery for specific industries, particularly for civil engineering as well as the manufacture of semiconductors and parts. In addition, higher demand also emanated from general industrial machinery and equipment, particularly heating and cooling equipment as well as pumps, compressors, fans and parts. Key export destinations for machinery, appliances and parts were Singapore, Thailand, the US, China and Vietnam.

In 2015, machinery and equipment investment turned around to record a positive growth of 5.8%. According to MATRADE Malaysia, the exports of machinery, appliances and parts to Japan had increased by RM98 million in 2015 compared to 2014. However, export to China is decreased in 2015. Moreover, Machinery, appliances and parts also one of the major import products in Malaysia that is 8.9% of all total import products.

Under Budget 2016, Government will focus into chemical, electrical and electronics, machinery and equipment, aerospace and medical devices industries as well as services. For this, RM730 million is allocated to funds under the Malaysian Investment Development Authority (MIDA).

The Government has identified the M&E industry to be one of the key areas for growth and development. The growth will focus on the manufacture of high value-added and high technology M&E. For the further development of the M&E industry, six strategic thrusts have been set during the Third Industrial Master Plan (IMP3), 2006 - 2020 period:-

- Promoting Malaysia as a regional production, trading and distribution centre for M&E

- Rising the development and promotion of selected specialized and high technology M&E

- Strengthening the engineering support industries and support services

- Developing Malaysian Standards for machinery and equipment

- Developing sufficient highly skilled workforce

- Strengthening the institutional support for the further development of the industry

OVERALL INDUSTRY OUTLOOK : Average Growth



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2016, the Subject is a Private Limited company, focusing on trading of industrial machinery and supplies for oil and gas. The Subject was newly established and it has yet to build up a stable clientele base in the market. It is likely to incur start-up costs during the initial years of its operations. The Subject has a strong support from its shareholder. However, the Subject does not have a strong capital position of MYR 150,000. Without a strong capital, the Subject may face difficulties to expand its business compared to other large corporation. 

Investigation revealed that the Subject concentrates only on the local market. This narrow market segment has placed the Subject at high business risk and limits its business expansion opportunities. Any adverse changes to the local economy might have a negative impact on the Subject's business performance. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject. 

No financial accounts are available for analysis. As such, we are not able to comment on the Subject's current financial standing. 

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources. 

The industry shows an upward trend and this trend is very likely to sustain in the near terms. 

In view of the above, we only recommend credit be proceeded to the Subject with guarantee.



FINANCIAL ACCOUNT


No latest financial accounts are available at the Registry Office. 

 



FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 63.41

UK Pound

1

INR 87.17

Euro

1

INR 77.45

MYR

1

INR 16.41

 

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.