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MIRA INFORM REPORT
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Report No. : |
508498 |
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Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
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Name : |
P.T. SUMATERA PRIMA FIBREBOARD |
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Registered Office : |
Wisma Indocement, 7th Floor,Jalan Jend. Sudirman Kav. 70-71, Jakarta Selatan, 12910 |
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Country : |
Indonesia |
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Date of Incorporation : |
10.11.1993 |
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Com. Reg. No.: |
AHU-AH.01.03-0935320 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing of Medium Density Fiberboard (MDF) |
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No. of Employees : |
335 |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Indonesia |
A2 |
A2 |
|
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 |
INDONESIA - ECONOMIC OVERVIEW
Indonesia, the largest economy in Southeast Asia, 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. Indonesia’s annual budget deficit is capped at 3% of GDP, and the Government of Indonesia lowered its debt-to-GDP ratio from a peak of 100% shortly after the Asian financial crisis in 1999 to 33% today. While Fitch and Moody's Investors upgraded Indonesia's credit rating to investment grade in December 2011, Standard & Poor’s has yet to raise Indonesia’s rating to this status amid several constraints to foreign direct investment in the country, such as a high level of protectionism.
Indonesia still struggles with poverty and unemployment,
inadequate infrastructure, corruption, a complex regulatory environment, and
unequal resource distribution among its regions. President Joko WIDODO -
elected in July 2014 – seeks to develop Indonesia’s maritime resources and
pursue other infrastructure development, including significantly increasing its
electrical power generation capacity. Fuel subsidies were significantly reduced
in early 2015, a move which has helped the government redirect its spending to
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 has not yet materialized.
.
|
Source
: CIA |
Company
Name And Address
Name of Company :
P.T.
SUMATERA PRIMA FIBREBOARD
A d d r e s s :
Head Office
Wisma Indocement, 7th Floor
Jalan Jend. Sudirman Kav. 70-71
Phones - (62-21) 57940499 (Hunting)
Fax - (62-21) 57940483, 57940485
E-mail - info@spf.co.id
Website - http://www.spf.co.id
Building Area - 25 storey
Office Space - 200 sq. meters
Region - Commercial
Status - Rent
Factory
Jalan Raya Prabumulih Km. 28
Desa Tanjung Seteko, Ogan Ilir
Indralaya, 30622
Phones - (62-711) 580321 (Hunting)
Fax - (62-711) 580323, 581660
Land Area - 170,000 sq. meters
Building Space - 37,000 sq. meters
Region - Industrial Zone
Status - Owned
Date of Incorporation
:
a. 10 November 1993 as P.T. MEGARIMBA
KARYATAMA
b. 14 July 2003 as P.T. SUMATERA PRIMA
FIBREBOARD
Legal Form :
P.T. (Perseroan Terbatas) or Limited
Liability Company
Company Reg. No. :
The Ministry of Law and Human Rights
- No.
C2-6290 HT.01.01.TH.1994
Dated
21 April 1994
- No.
C-17829 HT.01.04.TH.2003
Dated
30 July 2003
- No.
AHU-62735.AH.01.02.TH.2008
Dated
15 September 2008
- No.
AHU-AH.01.10-00354
Dated
7 January 2010
- No.
AHU-AH.01.03-0935320
Dated
28 May 2015
Company Status :
Foreign Investment (PMA) Company
Permit by the Government Department :
The
Department of Finance
NPWP No. 01.642.919.3-057.000
The
Capital Investment Coordinating Board
No. 77/V/PMA/2003
Dated 15 September 2003
Related Company :
A Member Company of the NAPAN Group
(see attachment)
CAPITAL
AND OWNERSHIP
Capital Structure :
Authorized Capital : Rp.
1,000,000,000,000.-
Issued Capital : Rp. 697,977,000,000.-
Paid up Capital : Rp. 697,977,000,000.-
Shareholders/Owners :
a. ASIA CIRCLE INC. -
Rp. 327,377,000,000.-
Address : Portcullis Trustnet Chambers
PO Box. 3444,
b. INTERNATIONAL VENTURES (L) LIMITED - Rp. 279,400,000,000.-
Address :
Level 2,
Center, Phase 3, 87000
c. P.T. MURNI CIPTASENTOSA -
Rp. 41,400,000,000.-
Address : Wisma Indocement
Jl. Jend. Sudirman Kav.
7—71
d. Mr. Andry Pribadi -
Rp. 15,000,000,000.-
Address : Jl. Sekolah Duta 1
No. 14-16
Jakarta Selatan
e. Mr. Wilson Pribadi -
Rp. 13,200,000,000.-
Address : Jl. HOS Cokroaminoto No. 39
f. Mr. Deddy Kusuma -
Rp. 12,000,000,000.-
Address : Jl. Gunawarman Block Q No. 67
g. Mr. Surya Widjaja (deceased) - Rp.
9,600,000,000.-
Address : Jl. Terusan Hanglekir No. IV/41
BUSINESS
ACTIVITIES
Lines of Business :
Medium Density Fiberboard (MDF)
Manufacturing
Production Capacity :
Medium Density Fiberboard (MDF) - 145,000 cu. meters p.a.
Total Investment :
a. Equity
Capital - Rp.
519.0 billion
b. Loan
Capital - Rp.
127.0 billion
c. Total
Investment - Rp.
646.0 billion
Started Operation :
2003
Brand Name :
Sumatera Prima Fibreboard
Technical Assistance :
None
Number of Employee :
335 persons
Marketing Area :
Export - 60%
Local -
40%
Main Customer :
Buyers in
Market Situation :
Very Competitive
Main Competitors :
a. P.T. CANANG INDAH
b. P.T. HIJAU LESTARI RAYA FIBREBOARD
c. P.T. PARINDO PERMAI
d. P.T. RIMBA PARTIKEL INDONESIA
e. Etc.
Business Trend :
Growing
BANKER,
AUDITOR & LITIGATION
B a n k e r s :
a. P.T. Bank CENTRAL ASIA Tbk
Jalan Jend. Sudirman Kav. 22-23
Jakarta 12910
b. P.T.
Bank MANDIRI Tbk
Jalan
Jend. Sudiman Kav.
70-71
Jakarta 12910
Indonesia
Auditor :
Internal
Auditor
Litigation :
No litigation record in our database
FINANCIAL
FIGURE
Annual Sales (estimated) :
2014 – Rp. 496.0 billion
2015 – Rp. 513.0 billion
2016 – Rp. 528.0 billion
2017 – Rp.
279.8 billion (January – June)
Net Profit (estimated) :
2014 – Rp. 43.0 billion
2015 – Rp. 45.0 billion
2016 – Rp. 46.5 billion
2017 – Rp. 24.0
billion (January – June)
Payment Manner :
Average
Financial Comments :
Fairly strong
KEY
EXECUTIVES
Board
of Management :
President
Director - Mr. Andry Pribadi
Directors - a.
Mr. Hendrianto Winata
b. Mr. Michael Pribadi
c. Mr. John Hendrarso
d. Mrs. Caecilia Vonny Nuraini Juwono
e. Mr. Tee Thye Kuian
f. Mr. Steven Widjaja
Board
of Commissioners :
President
Commissioner - Mr. Wilson
Pribadi
Commissioner - Mr. Deddy
Kusuma
Signatories
:
President Director (Mr. Andry Pribadi)
or one of the Directors (Mr. Hendrianto Winata, Mr. Michael Pribadi, Mr. John
Hendrarso, Mrs. Caecilia Vonny Nuraini Juwono, Mr. Tee Thye Kuian or Mr. Steven
Widjaja) which must be approved by Board of Commissioner.
CAPABILITIES
Management
Capability : Good
Business
Morality : Good
OVERALL
PERFORMANCE
Initially named P.T. MEGARIMBA KARYATAMA it was
established in November 1993 with the authorized capital of Rp. 50,000,000,000
issued capital of Rp. 40,000,000,000 entirely paid-up. Founders and original shareholders
are Mr. Sudwikatmono, Mr. Eddy Sariatmadja, P.T. MURNI CIPTASENTOSA, Mr. Andry
Pribadi AKA Liek Like Mien, Mr. Deddy Kusuma, Mr. Wilson Pribadi AKA Liem Oen
Djoe and Mr. Surya Widjaja. They are all Indonesian businessmen of Chinese
descent. The articles of association have frequently been revised. In July
2003, the company renamed to P.T. SUMATERA PRIMA FIBREBOARD (P.T. SPF). In July
2008, the authorized capital of the company was raised to Rp. 1,000,000,000,000
of which Rp. 519,000,000,000 was issued and fully paid up and concurrently
whole shares of the company were controlled by Mr. Andry Pribadi AKA Liem Like
Mien, Mr. Wilson Pribadi AKA Liem Oen Djoe, Mr. Deddy Kusuma, Mr. Surya
Widjaja, P.T. MURNI CIPTASENTOSA, ASIA CIRCLE INC of British Virgin Island and
INTERNATIONAL VENTURES (L) Ltd of Malaysia. We have since never heard of any
changes having occurred in the capital structures and shareholder composition
of the company to date. The latest in December 2009 the board of director and
the board of commissioner has been changed.
Lastly according to revision of notary deed Mrs. Agnes
Angelika, SH., no. 21 dated 7 May 2015 the company issued capital was increased
to Rp. 697,977,000,000 entirely paid up. With this development the composition
of its shareholders has been changed to become ASIA CIRCLE INC., of British
Virgin Island (46.90%), INTERNATIONAL VENTURES (L) LTD., of Labuan (40.03%),
P.T. MURNI CIPTASENTOSA (5.93%), Mr. Andry Pribadi (2.15%), Mr. Wilson Pribadi
(1.89%), Mr. Deddy Kusuma (1.72%), and the late Mr. Surja Widjaja (1.37%). The
amendment was approved by the Ministry of Law and Human Rights in its decision
letter No. AHU-AH.01.03-0935320 dated May 28, 2015.
P.T. SPF's
shareholder namely P.T. MURNI CIPTASENTOSA is a private company whose majority
business stakes are controlled by the Pribadi family. The Pribadi family is
also founders and majority business stakes owner of the NAWA PANDUTA Group or
the NAPAN Group, a medium sized business group in
P.T. SPF obtained license from Indonesian Investment
Coordinating Board (BKPM) for dealing with medium density fiber board (MDF)
manufacturing by managing a plant located at Desa Tanjung Seteko Km. 28,
Indralaya, Ogan Komering Ilir, South Sumatra standing on 17.0 hectares land operating
as from October 2003. The location ensures easy access by
land and sea transportation to all domestic and exports markets. P.T. SPF has
the largest single production line in Indonesia and one the most efficient
production line in South East Asia. The factory currently produces about
145,000 cubic meters of Medium Density Fibreboard per year ranging from 2.5
millimeters to 18 millimeters in thickness. The company’s versatility and
production know-how allows us to produce a wide range of MDF products, such as
high moisture resistant, fire retardant, very low formaldehyde boards and
special high density fibreboard for the flooring industry
P.T. SPF is the
largest Medium Density Fiberboard (MDF) in Indonesia, with 2 continuous production
lines. SPF currently employs about 500 people, mostly based at a 35 ha factory
site, near Palembang, South Sumatera. The 1st Line was commissioned at the end
of 2003, producing thicknesses from 2.5 mm to 25 mm. In October 2011, the 2nd
Line was commissioned. With the new Super Thin line, SPF is now capable of
producing MDF as thin as 1.0 mm. Line 2 is also has a 9’ press width, expanding
the versatility of various sizes and products, such as 3 x 7 Door Skin , etc.
that SPF can offer our customers.
The supply of raw material in the form of rubber woods is
purchased from the Department of Forestry and smallholder’s plantation in South
Sumatra. Construction of the plant absorbed an investment of Rp. 646.0 billion.
Some 60% of her company products is exported to various countries including
Generally, demand
for processed wood including medium density fiber (MDF) has been fluctuating in
the last five years in line with the fluctuating export and domestic markets. It
is estimated that the demand will kept on rising in the coming two-three years.
Meanwhile, the competition is very tight on account of lots of similar
companies operating in the country. The woodworking industry had been turning
down within the last five years due to lack of raw materials, as far from
transportation facility and fluctuation of export demand. It is estimated will
keep going down within the coming two or three years as the impact of global
economic crisis and tight banking liquidity since October 2008 hitherto.
The business
position of P.T. SPF is appraised to be facing difficulty for lack of basic
materials in future. The
growth of said business is evident from the production and utility growth of
the processed wood export volume and export value of plywood and sawn timber
below:
Forest Wood Production, 2011 – 2016* (M3)
|
Type
of Commodities |
2011 |
2012 |
2013 |
2014 |
2015 |
2016* |
|
Logs |
47,429,335 |
49,258,255 |
45,770,454 |
44,963,519 |
35,290,288 |
37,054,802 |
|
Sawn timber |
967,318 |
1,100,096 |
992,867 |
1,458,624 |
1,765,080 |
1,774,985 |
|
Plywood |
3,302,843 |
3,310,863 |
3,261,970 |
3,579,113 |
3,640,631 |
3,859,069 |
Until this time P.T. SPF has not been registered with Indonesian
Stock Exchange, so that they had not obliged to announce their financial
statement. The management of P.T. SPF is very
reclusive towards outsiders and rejected to disclose its financial condition.
We observed that total sales turnover of the company in 2014 amounted to Rp.
496.0 billion increased to Rp. 513.0 billion in 2015 rose to Rp. 528.0 billion
in 2016. As from January to June 2017 the sales turnover has amounted at Rp.
279.8 billion with a net profit of at least Rp. 24.0 billion and projected to
go on rising by at least 5% in 2018. The company has an estimated total net
worth of at least Rp. 557.0 billion. We observe that P.T. SPF is supported by
foreign partner 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
The management of P.T. SPF is led by Mr. Andry Pribadi
(68) a businessman and professional manager of the NAPAN Group with experience
in medium density fibreboard manufacturing and trading. The company's
management is handled by professional manager 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. The company’s litigation record is clean and
it has not registered with the black list of Bank of Indonesia. P.T. SUMATERA
PRIMA FIBREBOARD is sufficiently fairly good for business cooperation.
ATTACHMENT
List of the NAPAN
Group Members
1.
ACRINDONUSA FIBRE PRATAMA, P.T. (Acrylic
Fibre Manufacturing)
2.
ADHIKARA SANDIKA, P.T. (Rubber Thread
Manufacturing)
3.
ADIKARSA RAYAPRIMA, P.T. (Trading and
Suppliers)
4.
ADIKRIDA PRIMALESTARI, P.T. (Trading and
Suppliers)
5.
AMCOL HOLDING (S) PTE. LTD., Singapore
(Investment Holding)
6.
ANDALAN
PRIMULA, P.T. (Investment Holding)
7.
ARCOM PRIMANTARA SYSTEMS, P.T. (Agency and
Distribution of Computers and Peripherals)
8.
ARGA INDAH PRATAMA, P.T. (Housing
Development)
9.
ARGA MOLEK KENCANA, P.T. (Real Estate
Development)
10. ARGHA
KARYA PRIMA INDUSTRY Tbk., P.T. (Oriented Polypropylene Film Manufacturing)
11. ARGHA
SEALINDOPRIMA INDUSTRY, P.T. (Automotive Seal Manufacturing)
12. ASIAN
CONRAD HOLDING Ltd., British Virgin Island (Investment Holding)
13. ASTENIA,
P.T. (Investment Holding)
14. BAHANAJAYA
ADISAKTI, P.T. (General Contracting, Trading and Transportation Service)
15. BATAVIA
CITY REALTY, P.T. (Properties Development and Management)
16. BHASKARA
DUNIAJAYA, P.T. (Investment Holding)
17. BHUMANDALA
AGUNG, P.T. (Investment Holding)
18. BINA
TAMBAK LESTARI, P.T. (Shrimp Culture)
19. BRANTA
MULIA Tbk., P.T. (Nylon Tyre Cord Manufacturing)
20. BRANTA
MULIA MALAYSIA, Malaysia (Nylon Tyre Cord Manufacturing)
21. BRANTA
MULIA TEIJIN INDONESIA, P.T. (Nylon Filament Yarns Manufacturing)
22. BUMI
LESTARI ABADI, P.T. (Housing Development)
23. CATERISON
SUKSES, P.T. (Country Club Management)
24. CENTRALINDO
PANCASAKTI, P.T. (Cellular Telephone Operator and Investment Holding)
25. CITRA
MARGA NUSAPHALA PERSADA, P.T. (Toll Road Management)
26. DERMAGA PERKASA PRATAMA, P.T. (Coal Terminal
Management)
27. DJATI
YUDHA CELLULAR, P.T. (Telecommunication Development)
28. DUABANU
INTERNUSA, P.T. (Granite Mining and Processing)
29. DUTA
NUSABINA LESTARI, P.T. (Property Management)
30. DUTA
PERKASA UNGGULESTARI, P.T. (Real Estate Management)
31. ELANGMAS PERKASA SEJATI, P.T. (Industrial Estate
Management)
32. FOREVERGREEN
INTERNATIONAL, P.T. (International Restaurant)
33. GITANIRWANA
MANDRASAKTI, P.T. (Investment Holding)
34. HARTINDO
CHEMICATAMA INDUSTRI, P.T. (Chemicals for Fire Extinguisher Manufacturing)
35. INDOALUM
INTIKARSA INDUSTRY, P.T. (Aluminum Sheet and Foil Industry)
36. INDOCITRA
GRAHABAWANA, P.T. (Property Management and Development)
37. INDOFIRST
NUSANTARA SYNTHETIC RUBBER, P.T. (Styrene Butadiene Rubber Industry)
38. INDOPOLY
SWAKARSA INDUSTRY, P.T. (BOPP Film Manufacturing)
39. INTERNATIONAL
RESOURCES CORPORATION, USA, (Trading)
40. INTERNATIONAL
REOURCES (HK) LTD., Hongkong, (Trading)
41. INTINUSA
SELAREKSA Tbk., P.T. (Integrated Natural Granite Processor)
42. JANGGALA
PRIMA, P.T. (Trading and Suppliers)
43. JAPAN
TRAVEL BUREAU INDONESIA, P.T. (Travel Agency)
44. KARYA
YUDHA SAKTI, P.T. (Housing Development)
45. KEMAYORANLAND
Corporation, P.T. (Property Management)
46. KUNINGAN
PROPERTAMA, P.T. (Property Development and Management)
47. LAYANG
KENCANA PRIMA, P.T. (Trading and Supplier)
48. LONDON
SUMATRA INDONESIA, P.T. Perusahaan Perkebunan (Integrated Cocoa, Palm Oil,
Coffee, Tea and Rubber Plantation and Investment Holding)
49. MATAHARI
LINTAS CAKRAWALA, P.T. (Direct Broadcasting Satellite Television Services)
50. MAG
INDONESIA CITRA, P.T. (Sub Assy and Electronic Component Manufacturing)
51. MEGACITY
DEVELOPMENT CORPORATION, P.T. (Apartment Developer Management)
52. MEGATAMA
RAYA, P.T. (Consulting)
53. MULTI
BATURA UTAMA, P.T. (General Trading, Exporters, Suppliers and Distributors)
54. MULTI
GRANITINDO UTAMA, P.T. (Granite Mining and Processing)
55. MULTI HARAPAN UTAMA, P.T. (Trading)
56. MULTI
MEDIA NUSANTARA, P.T. (Pay TV Cable and Multimedia Provider)
57. MURNICIPTA
SENTOSA, P.T. (Investment Holding)
58. NALCO
PERKASA, P.T. (Industrial Chemical Formulation)
59. NAWA
PANDUTA, P.T. (General Trading and Investment Holding)
60. NUGRAHABUANA
BUMINUSA, P.T. (Granite Mining and Processing)
61. NUSATEL
YUDHA BHAKTI, P.T. (Telecommunication Contracting)
62. PAN
LONDON SUMATRA PLANTATION, P.T. (Investment Holding)
63. PANCA PURI PERKASA INDAH, P.T. (Industrial Estate
Management)
64. PERKASA
STERILINDO, P.T. (Sterilization Service)
65. PETRA
NADA KENCANA, P.T. (Graphite Electrodes Manufacturing)
66. POLYPRIMA
KARYAREKSA, P.T. (Purified Terephthalic Acid (PTA) Processing)
67. PRISMATAMA
NUGRAHA, P.T. (Trading and Suppliers)
68. POLYPET
KARYAPERSADA, P.T. (Polyethylene Therephtalate Industry)
69. PRAJA
PURI INDAH, P.T. (Shopping Centre and Industrial Estate Development)
70. PRIMA
INTERLOKASI, P.T. (Trading and Suppliers)
71. PRIMA
CITRA ELOK, P.T. (Trading and Suppliers)
72. PRIMANUSA
INDONESIA, P.T. (Investment Holding)
73. PUTRAMITA
LUHURSEJATI, P.T. (Investment Holding)
74. RAYAPRIMA
LESTARI, P.T. (Trading and Suppliers)
75. REXFORD
PRATAMA, P.T. (Trading, Supplier and Distributor)
76. RIAUALAM
ANUGERAH INDONESIA, P.T. (Granite Mining and Processing)
77. SAHAMAS
ARTANUSA, P.T. (Stock Exchange Brokerage Services)
78. SARILEMBAH
TIRTA HIJAU, P.T. (Luxury Apartment Management)
79. SAROTAMA PRIMA PERKASA, P.T. (Tourism Industry)
80. SAYAPNUSA
PRIMA, P.T. (Trading and Suppliers)
81. SEMESTAKIMIA
RAYA, P.T. (Trading of Industrial Chemicals)
82. SINAR
BENUAPRIMA, P.T. (Coal Mining and Destillation)
83. STENTA
FILMS (Malaysia) Sdn., Bdh., (BOPP Film Manufacturing)
84. SUMATERA
PRIMA FIBREBOARD, P.T. (Medium Density Fibreboard Manufacturing)
85. SURYA
CITRA TELEVISI, P.T. (Commercial Television Broadcasting Services)
86. SURYANUSA
PERKASA, P.T. (Hotelry and Recreation Centre Management)
87. SWASTHI
PARAMA MULYA, P.T. (Rubber Thread Manufacturing)
88. THAI
BRANTA MULIA CO., LTD., Thailand (Nylon Tyre Cord Manufacturing)
89. TRANSINDO PUTRA PERKASA, P.T. (Land Transportation)
90. WIRASWASTA
GEMILANG INDONESIA, P.T. (Used Lubricating Oil Refinery)
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.08 |
|
|
1 |
INR 91.14 |
|
Euro |
1 |
INR 80.08 |
|
IDR |
1 |
INR 0.0048 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.