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MIRA
INFORM REPORT
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Report No. : |
505670 |
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Report Date : |
03.05.2018 |
IDENTIFICATION DETAILS
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Name : |
NALAHIYA TRADING PVT LTD |
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Registered Office : |
8Fl Faaroshige Orchid, Magu, Male
20189 |
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Country : |
Maldives |
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Date of Incorporation : |
18.03.2002 |
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Com. Reg. No.: |
C-85/2002 |
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Legal Form : |
Private Company with Limited Liability |
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Line of Business : |
·
Manufacture of cement ·
Wholesale of furniture, carpets and lighting equipment ·
Operation of gravel and sand pits; mining of clays
and kaolin ·
Quarrying of ornamental and building stone, limestone,
gypsum, chalk and slate ·
Renting and leasing of other personal and household
goods ·
Painting and glazing ·
Demolition |
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No. of Employees : |
350 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 935.000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Maldives |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
MALDIVES - ECONOMIC OVERVIEW
Maldives has quickly become a middle-income country, driven by the rapid growth of its tourism and fisheries sectors, but the country still contends with a large and growing fiscal deficit. Economic growth slowed to 2.8% in 2015, mainly because of a decline in tourists from China and Russia. Despite lower growth, tourism-related tax receipts increased by 13% in 2015 because of higher tax rates. This increase in tax receipts led to higher usable foreign exchange reserves that helped partially fund increases in construction related imports.
In 2015, Maldives’ Parliament passed a constitutional amendment legalizing foreign ownership of land; foreign land-buyers must reclaim at least 70% of the desired land from the ocean and invest at least $1 billion in a construction project approved by Parliament.
Diversifying the economy beyond tourism and fishing, reforming public finance, increasing employment opportunities, and combating corruption, cronyism, and a growing drug problem are near-term challenges facing the government. Over the longer term, Maldivian authorities worry about the impact of erosion and possible global warming on their low-lying country; 80% of the area is 1 meter or less above sea level.
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Source
: CIA |
Company Summary |
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Business Name |
NALAHIYA TRADING PVT LTD |
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Country |
MALDIVES |
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Company Registration Number |
C-85/2002 |
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Main Activity Code |
2351 |
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Main Activity Description |
Manufacture of cement |
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Company Status |
Normal (Active) |
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Latest Turnover Figure |
- |
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Latest Shareholder Equity Figure |
- |
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Credit Limit |
935.000 USD |
Basic Information |
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Business Name |
NALAHIYA TRADING PVT LTD |
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Registered Company Name |
NALAHIYA TRADING PVT LTD |
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Company Registration Number |
C-85/2002 |
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Country |
MALDIVES |
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Date of Company Registration |
2002-03-18 |
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Date of Starting Operations |
2002-03-18 |
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Legal Form |
Private Company with Limited Liability |
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Type of Ownership |
Registered ownership by Subject Business Entity |
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Company Status |
Normal (Active) |
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Contact Telephone Number |
[+960]-3331999, [+960]-3335930, [+960]-3335931, [+960]-7775787 |
Main Address |
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Address |
Country |
Telephone |
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8Fl Faaroshige Orchid, Magu, Male 20189 |
MALDIVES |
[+960]-3331999, [+960]-3335930, [+960]-3335931, [+960]-7775787 |
Other Address |
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Address |
Country |
Telephone |
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G Hiyakuri Alikilegefaanu Magu, Magu, Male |
MALDIVES |
960-3336629 |
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M Kurangi Shaheed Ali Magu, Magu, Male |
MALDIVES |
960-3315588 |
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M Rechafaru Kambaa Aisa Rani Hingun, Male |
MALDIVES |
960-3332897 |
Previous Address |
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Address Country |
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81 Boduthakurufaanu, Magu,
Male MALDIVES |
Activities |
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Activity Code |
Activity Description |
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2351 |
Manufacture of cement |
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4647 |
Wholesale of furniture, carpets and lighting equipment |
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0812 |
Operation of gravel and sand pits; mining of clays and kaolin |
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0811 |
Quarrying of ornamental and building stone, limestone, gypsum, chalk
and slate |
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7729 |
Renting and leasing of other personal and household goods |
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4334 |
Painting and glazing |
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4311 |
Demolition |
Email Addresses |
Web Pages |
Employee Information |
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Date Reported Number of Employees |
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2018 350 |
Banker Information |
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No banker information for this company. |
Advisors Information |
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No advisor information for this company. |
Miscellaneous Information |
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Fax Number |
[+960]-3337711 |
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Export Countries |
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Import Countries |
Asia / Pacific,
China, India, Indonesia, Malaysia,
Singapore, Sri Lanka, Thailand, Turkey, United Arab Emirates |
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Additional Business Information |
Core Business The primary business focus of NALAHIYA TRADING PVT LTD is Trading
- Finished products. Key products include :
Aluminium Aggregate Black, granite Building materials Cement Concrete
materials Construction materials Deformed steel bars Glass Hardwood Marble
Plywoods Polished granites Roofing materials
Sand Tiles Supplementary Business In addition to the core business, NALAHIYA TRADING PVT LTD
also is engaged
in the following areas of business: 1. Importing Importing - Finished products 2. Service
Specialized professional services, including: Construction Equipment rental
Logistics Motor vehicle repairs Port
operations Real estate management Vehicle maintenance |
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Additional Rating Information |
Good Credit Quality: Credit can proceed on a favorable basis but in
strict adherence to financig terms. Revision of Credit Limit : Annual Risk
Index : Low |
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Additional Payment Information |
Selling Type Terms
Local Cash on delivery (COD)
Credit - Secured
with Post-dated checks
30~90 days Purchasing Type
Terms Import Letter
of Credit (At-sight) Telegraphic Transfer (T/T)
- Executed at time of transaction Local Credit - Secured with
Post-dated checks 30~90
days Cash on delivery (COD) |
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Additional Financial Information |
Based on the corporate laws of Maldives, legal entities which are a
Private Company with Limited Liability are not required to make public
disclosure of their annual financials. Therefore no financials are available
for this entity. |
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Number of Employees at Address |
350 |
Additional Miscellaneous Information |
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Issuing Authority |
MINISTRY OF TRADE & INDUSTRIES |
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Capital |
n/a |
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Note |
1) Not applicable. According to the corporate statutory laws for this
type of Legal Form - Category (Private Company with Limited Liability) in
Maldives, there is no requirement for Authorized Capital. |
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Primary Business Activity |
Trader |
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Primary Industry |
Construction & Construction Materials |
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Harmonized Product Classification & Activity |
Product/Service Description Code Activity Agric, construction, trans, electric/ gas/ sanitary, eng & mgmt & envir.quality 9800 Service Articles of cement, concrete or artificial stone 6810 Importing, Trading Building materials of asbestos fibers 6812900025 Importing, Trading Business services, health, financial/insur. legal/real estate, hotels, and misc repairs 9900 Service Equipment rental and leasing, nec 9913 Service Glass and glazing work 9828 Service Granite 6802930000 Importing, Trading Heavy construction 9818 Service Heavy construction equipment rental 9912 Service Marble, travertine etc. and alabaster, crude etc. 2515 Importing, Trading |
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Detailed Product Classification & Activity |
Products / Materials / Services Description Ranking Activity Concrete materials Primary Importing, Trading Construction materials Primary Importing, Trading Deformed steel bars Primary Importing, Trading Glass Primary Importing, Trading Hardwood Primary Importing, Trading Marble Primary Importing, Trading Plywoods Primary Importing, Trading Polished granites Primary Importing, Trading Roofing materials Primary Importing, Trading Sand Primary Importing, Trading Aluminium fabrication Secondary Service Construction Secondary Service Equipment rental Secondary Service Glass fabrication Secondary Service |
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Domestic Sales & Purchases |
Annual Sales Analysis Percentage Domestic Sales 100% Annual Purchases
Analysis Percentage Local Purchases 50% Imports 50% |
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Reputation |
Reference checking for the purpose
of establishing NALAHIYA TRADING PVT LTD's
reputation within the respective
industry failed to reveal any adverse information. |
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Nega-scan - adverse data monitoring |
Dishonored checks No record found Debt No record found Civil litigation
No record found Performance defaults No record found Adverse local media
coverage / adverse filing history No record found |
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Local Branches & Management |
Branch : NALAHIYA
TRADING PVT LTD - MAGU, MALE
Branch Address : G Hiyakuri
Alikilegefaanu Magu, Magu, Male Branch Tel : 960-3336629 Branch :
NALAHIYA TRADING PVT LTD - MAGU, MALE Branch Address
: M Kurangi Shaheed Ali
Magu, Magu, Male Branch Tel :
960-3315588 Branch : NALAHIYA TRADING PVT
LTD - MALE Branch Address : M Rechafaru Kambaa Aisa Rani Hingun, Male Branch Tel
: 960-3332897 Branch Email : aluminium@nalahiyatrading.com |
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Shareholders |
Total number of shareholders : 1 Total number of shares : n/a |
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Overseas Suppliers |
Business Entity Name Global Identifier Country SIAM CEMENT PUBLIC CO
LTD , THE 31628771 Thailand |
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Office & Facilities |
The following information relates to the Business Entity's office as
listed above: Name : NALAHIYA TRADING PVT
LTD - MAGU, MALE Primary Use : Office & Administration facilities Address : 8Fl Faaroshige Orchid,
Magu, Male 20189 Country : MaldivesStatus : Operational |
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Trade Shows |
Exhibition Acronym Country Participating Year MACI BuildExpo n/a
Maldives 2014 |
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Registered Legal Address |
8Fl Faaroshige Orchid, Magu, Male 20189 |
Primary Products |
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Products / Materials / Services Description |
Activity |
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Aggregate |
Importing, Trading |
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Aluminium |
Importing, Trading |
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Black, granite |
Importing, Trading |
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Building materials |
Importing, Trading |
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Cement |
Importing, Trading |
Financial Information |
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No financial information for this company. |
Credit Limit
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Current Credit Limit |
935.000 USD |
Current Directors |
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Name |
Gender |
Address |
Date of Birth |
Position |
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Ibrahim Waheed |
Male |
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Chairman Director |
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Ismail Jumayyil Waheed |
Male |
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Chief Executive Officer Director |
Previous Directors |
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No previous directors for this company. |
Share Capital Structure |
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Nominal Share Capital |
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Issued Share Capital |
Shareholders |
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Shareholder |
Address |
% Shares Held |
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Mr. Ibrahim Waheed |
Maldives |
100 |
Group Structure |
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No group structure information for this company |
Negative Information |
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No negative information for this company |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.78 |
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1 |
INR 92.89 |
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Euro |
1 |
INR 80.74 |
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MVR |
1 |
INR 4.31 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.