MIRA INFORM REPORT
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Report Date : |
31.10.2006 |
IDENTIFICATION
DETAILS
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Name : |
TAMCO
ELECTRICAL & ENVIRONMENTAL [SINGAPORE] PTE LTD |
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Formerly Known As : |
TAMCO ELECTRICAL & ELECTRONICS (SINGAPORE) PTE LTD |
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Registered Office : |
5 Penjuru Close, #03-00, Singapore -
608600 |
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Country : |
Singapore |
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Financials (as on) : |
31.05.2005 |
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Date of Incorporation : |
21.03.1980 |
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Legal Form : |
Pte Ltd |
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Line of Business : |
Wholesale
of Electronic Components. Sale &
Distribution of Electrical Goods. |
RATING & COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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Status : |
Dormant
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
Subject Company
TAMCO ELECTRICAL &
ENVIRONMENTAL (SINGAPORE) PTE. LTD.
Line Of Business
--
Parent Company
--
Financial Elements
FY 2005
COMPANY
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Sales |
- |
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Networth |
S$993,412 |
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Paid-Up Capital |
S$980,000 |
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Net result |
S$-6,183 |
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Net Margin(%) |
- |
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Return on Equity(%) |
-0.62 |
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Leverage Ratio |
- |
COMPANY IDENTIFICATION
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Subject Company |
TAMCO ELECTRICAL & ENVIRONMENTAL (SINGAPORE) PTE. LTD. |
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Former Name |
TAMCO ELECTRICAL & ELECTRONICS (SINGAPORE) PTE LTD |
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Business Address |
5 PENJURU CLOSE |
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#03-00 |
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Town |
SINGAPORE |
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Postcode |
608600 |
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County |
- |
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Country |
Singapore |
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Telephone |
Not Listed |
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Fax |
Not Listed |
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ROC Number |
198000887M |
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Reg. Town |
- |
PREVIOUS IDENTIFICATION
TAMCO ELECTRICAL
& ELECTRONICS (SINGAPORE) PTE LTD
DATE OF CHANGE OF
NAME: 19/09/2006
NEWEY & EYRE
(SINGAPORE) PRIVATE LIMITED
DATE OF CHANGE OF
NAME: 01/08/1992
SUMMARY
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All amounts in this report are in |
SGD unless otherwise stated |
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Legal Form |
Pte Ltd
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Date Inc. |
21/03/1980 |
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Previous Legal Form |
- |
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Summary year |
31/05/2005 |
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Sales |
- |
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Networth |
993,412 |
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Capital |
1,000,000 |
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Paid-Up Capital |
980,000 |
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Employees |
- |
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Net result |
- 6,183 |
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Share value |
1 |
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AUDITOR |
BENEDICT &
ASSOCIATES |
REFERENCES
Litigation : No
Company
status : DORMANT
Started
: -
PRINCIPAL(S)
NG
KOK MENG
S1851130D Director
DIRECTOR(S)
NG KOK MENG S1851130D Director
Appointed on : 20/09/2004
Street : 42
SPRINGLEAF DRIVE
SPRINGLEAF GARDEN
Town: SINGAPORE
Postcode: 788290
Country: Singapore
ABDUL LATIF BIN MAHAMUD 561223-08- Director
Appointed on : 01/01/2005
Street : 1 JLN
WANGSA MURNI 8,
WANGSA MELAWATI
Town: KUALA
LUMPUR
Postcode: 53300
Country: Malaysia
CHIN CHOON HIONG SYLVIA S1660185C Company Secretary
Appointed on : 08/06/2006
Street : 25K
JALAN HOCK CHYE
Town: SINGAPORE
Postcode: 534178
Country: Singapore
FORMER DIRECTOR(S)
TAN THIAM HUAT JOHNNY S0280741F
CHUA
TEOW MENG S1049453B
ATKINSON DAVID MICHAEL S1086674Z
CHIA LUANG CHEW HAZEL S1407126A
HEAH KOK SOON 4910110855
MICHAEL JESSE WHISTON S2151929D
WONG CHIN MUN RICHARD 2765259
LEOW SWEE MIN 4640173(B)
SARGENT PAUL JEREMY B162193
CONYBEARE HOWARD JAMES B262448
HOULDSWORTH PETER AUSTIN B894549
PETER JOYCE SC003984E
YOUNG BRIAN HENRY P634492
CHUA AH LAK 4806280151
TOH YIU JOE S2167825B
ACTIVITY(IES)
ELECTRICAL, ELECTRONIC MACHINERY Code : 8
ELECTRONIC
COMPONENTS Code
: 7605
BASED ON ACRA'S RECORD AS AT 25/10/2006
1) WHOLESALE OF ELECTRONIC COMPONENTS
SALE & DISTRIBUTION OF
ELECTRICAL GOODS
CHARGES
No Charges On Premises/Property In Our
Database
PREMISES/PROPERTY INFORMATIONS
No Premises/Property Information In Our
Databases
BANKERS
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
SHAREHOLDERS(S)
TAMCO SYSTEMS (SINGAPORE) PTE. LTD. 980,000 Company
Street : 5 PENJURU CLOSE
#03-00
Town: SINGAPORE
Postcode: 608600
Country: Singapore
FORMER SHAREHOLDER(S)
NEWEY & EYRE INTERNATIONAL LTD 980,000
HOLDING COMPANY
TAMCO SYSTEMS (SINGAPORE) PTE. LTD 196400399W % : 100
SUBSIDIARY(IES)
No Participation In Our Database
PAYMENT HISTORY AND EXPERIENCES
Trade Morality : UNKNOWN
Liquidity :
UNKNOWN
Payments :
UNKNOWN
Trend :
UNKNOWN
Financial Situation : UNKNOWN
LITIGATION(S)
No Litigation In Our Database
FINANCIAL ELEMENTS
All
amounts in this report are in: SGD
Audit Qualification:
UNQUALIFIED (CLEAN)
UNQUALIFIED (CLEAN)
Date Account Lodged: 23/12/2005
Balance Sheet Date: 31/05/2005 31/05/2004
Number of weeks: 52 52
Consolidation Code: COMPANY COMPANY
--- ASSETS
Cash,Banks, Securitis: 953 33,734
Other current assets: 995,682 970,569
Total Current Assets: 996,635 1,004,303
TOTAL
ASSETS:
996,635 1,004,303
--- LIABILITIES
Equity capital: 980,000 980,000
Profit & lost Account: 13,412 19,595
TOTAL
EQUITY:
993,412
999,595
Prepay. & Def. charges: 3,223 4,708
Total short term Liab.: 3,223 4,708
TOTAL
LIABILITIES:
3,223
4,708
PROFIT & LOSS ACCOUNT
NET
RESULT BEFORE TAX: -6,183 -3,733
Net
income/loss year: -6,183 -3,733
RATIOS
31/05/2005 31/05/2004
Return
on Equity(%): -0.62 -0.37
Return
on Assets(%): -0.62 -0.37
Net
Working capital: 993412.00 999595.00
Cash
Ratio: 0.30 7.17
Quick
Ratio: 0.30 7.17
Current
ratio: 309.23 213.32
Return on Equity : (100*Net income loss year)/Total equity
Return on Assets : (100*Net income loss year)/Total fixed assets
Net Working capital : Total current assets - Total short term liabilities
Cash Ratio : Cash Bank securities/Total short term liabilities
Quick Ratio : (Cash Bank securities+Receivables)/Total Short term liabilities
Current ratio
: Total current assets/Total short term liabilities
FINANCIAL COMMENTS
SINCE THE SUBJECT IS DORMANT, THE FINANCIAL ANALYSIS WILL NOT BE CONDUCTED. INSTEAD, AN ADVERSE CHECK ON THE DIRECTORS WILL BE CONDUCTED.
BACKGROUND/OPERATION
THE COMPANY WAS INCORPORATED IN THE
REPUBLIC OF SINGAPORE ON 21/03/1980 AS A LIMITED PRIVATE COMPANY AND IS TRADING
UNDER ITS NAMESTYLE AS "NEWEY & EYRE (SINGAPORE) PRIVATE LIMITED".
SUBSEQUENTLY, ON 01/08/1992, THE COMPANY CHANGED TO ITS NAMESTYLE AS "TAMCO ELECTRICAL & ELECTRONICS (SINGAPORE) PTE LTD".
SUBSEQUENTLY, ON 19/09/2006, THE COMPANY
CHANGED TO ITS PRESENT NAMESTYLE AS "TAMCO ELECTRICAL & ENVIRONMENTAL
(SINGAPORE) PTE. LTD.".
AS AT 25/10/2006, THE COMPANY HAS ISSUED AND PAID-UP CAPITAL OF 980,000 SHARES OF A VALUE OF S$980,000.
PRINCIPAL ACTIVITIES:
SUBJECT IS REGISTERED WITH THE ACCOUNTING & CORPORATE REGULATORY AUTHORITY (ACRA) TO BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1)WHOLESALE OF ELECTRONIC COMPONENTS
SALE & DISTRIBUTION OF ELECTRICAL GOODS
DURING THE FINANCIAL YEAR UNDER REVIEW, THE
PRINCIPAL ACTIVITIES OF THE COMPANY CONSIST OF THE SALE AND DISTRIBUTION OF
ELECTRICAL GOODS. THE COMPANY REMAINS DORMANT FOR THE FINANCIAL YEAR.
FROM THE RESEARCH DONE, THE FOLLOWING INFORMATION WAS GATHERED:
TERMS OF PAYMENT:
* TRADE AND OTHER PAYABLES : 30-90 DAYS TERM
THE COMPANY IS A WHOLLY-OWNED SUBSIDIARY OF
TAMCO SYSTEMS (SINGAPORE) PTE LTD, A COMPANY INCORPORATED IN SINGAPORE. THR
ULTIMATE HOLDING COMPANY IS ANCOM BERHAD, A COMPANY INCORPORATED IN MALAYSIA.
NUMBER OF EMPLOYEES (31 MAY):
* COMPANY - 2005: NIL (2004: NIL)
* GROUP
- 2005: - (2004:
-)
REGISTERED ADDRESS:
5 PENJURU CLOSE
#03-00
SINGAPORE 608600
- DATE OF CHANGE OF ADDRESS: 16/02/2004
WEBSITE:
-
EMAIL:
-
MANAGEMENT
THE DIRECTORS AT THE TIME OF THE REPORT
ARE:
1) ABDUL LATIF BIN MAHAMUD, A MALAYSIAN
- BASED IN MALAYSIA.
2) NG KOK MENG, A SINGAPOREAN
-
OTHER DIRECTORSHIP(S) IN OUR DATABASE:
TAMCO SYSTEMS (SINGAPORE) PTE. LTD.
INVENSYS ENERGY SYSTEMS PTE LTD
BEST POWER TECHNOLOGY PL
ADVERSE ON DIRECTORS
DIRECTOR'S NAME: NG KOK MENG
ADVERSE REPORT AGAINST DIRECTOR: YES
TYPE OF CASE: OTHERS
CASE NO : TWS00036/90
DEFENDANT : NG KOK MENG
DEFENDANT : NG MEI WOON
PLAINTIFF : MALAYAN BANKING BHD
TYPE OF CASE: OTHERS
CASE NO : TWS00052/90
DEFENDANT : NG KOK MENG
DEFENDANT : NG MEI WOON
PLAINTIFF : MALAYAN BANKING BHD
PROPERTY OWNERSHIP : OWNS 1
ANNUAL VALUE :
S$22,800
CO-OWNER (S) :
KOH EE WHAN
* ANNUAL VALUE IS THE ESTIMATED ANNUAL RENT THE PROPERTY CAN FETCH
IF IT WERE RENTED OUT. THE ANNUAL VALUE IS DETERMINED IN THE SAME MANNER
REGARDLESS OF WHETHER THE PROPERTY IS LET-OUT, OWNER-OCCUPIED OR VACANT.
Singapore’s Country Rating 2006
Investment
Grade
IN
SINGAPORE, THE POLITICAL SITUATION APPEARS TO BE VERY STABLE.
ECONOMIC GROWTH IS BECOMING MORE
MODERATE AS INVESTMENT HAS BEEN FLAT DUE TO INCREASING OIL PRICES AND LESS
BUOYANT DEMAND FOR ELECTRONIC PRODUCTS.
ECONOMIC PERFORMANCE HAS REMAINED STRONG, UNDERPINNED BY
PHARMACEUTICALS AND SERVICES. EXPORTS HAS BENEFITED FROM THE STEADINESS OF
DEMAND FROM ITS MAIN TRADING PARTNERS, MALAYSIA, THE UNITED STATES, CHINA AND
HONG KONG. OTHER THAN ITS BALANCED PUBLIC SECTOR ACCOUNTS, LIMITED FOREIGN DEBT
AND COMFORTABLE FOREIGN CURRENCY RESERVES HAVE CONTRIBUTED TO SINGAPORE’S
STRONG FINANCIAL CONDITION.
AS THE ELECTRONICS SECTOR FACES COMPETITION FROM THE ASIAN ECONOMIES, SINGAPORE
HAS BEEN PURSUING DIVERSIFICATION STRATEGY THAT HAS BEEN CONSOLIDATING ITS
POSITION. PHARMACEUTICALS ALREADY REPRESENT 10% OF EXPORTS IN COMPARATIVE TO
ITS INSIGNIFICANT CONTRIBUTION IN YEAR 1995. ELECTRONICS SECTOR SECTOR’S SHARE
HAS DECLINED FROM 80% TO 60% DURING THE SAME PERIOD. THERE IS HIGH RELIANCE ON
DEVELOPMENT OF PETROCHEMICAL PRODUCTS, HIGH VALUE-ADDED SERVICES AND
BIOTECHNOLOGIES.
ASSETS
ONE OF THE MOST OPEN ECONOMIES IN THE WORLD WITH EXPORTS
PLAYING A MAJOR ROLE IN ITS PERFORMANCE. ONE OF ASIA’S MOST ADVANCED COUNTRIES
IN QUALITY COMPETITIVENESS TERMS.
WORKFORCE’S EDUCATION AND SKILL LEVEL IS VERY HIGH. A MAJOR
EXPORT OF CAPITAL IN ASIA, PARTICULARLY THE STATE-OWNED HOLDING COMPANY,
TEMASEK. THE BUSINESS ENVIRONMENT HAS
BEEN VERY FAVOURABLE. GREAT POLITICAL
STABILITY.
WEAKNESSES
ECONOMY REMAINED OVERSPECIALISED IN THE ELECTRONICS
SECTOR. MUST ACCELERATE DIVERSIFICATION
IN SERVICES TO MAINTAIN ITS LEAD OVER OTHER ASIAN ECONOMIES REFORMS ARE STILL
NEEDED TO FOSTER INNOVATION AND EDUCATION-SYSTEM MODERNIZATION. AGING
POPULATION COULD ULTIMATELY AFFECT ECONOMIC PERFORMANCE.
OVERVIEW OF SINGAPORE
PAST
PERFORMANCE
SINGAPORE’S ECONOMIC GROWTH
MODERATED IN THE SECOND QUARTER TO 7.5% YEAR-ON-YEAR DUE TO A WEAKER
MANUFACTURING SECTOR. PRELIMINARY ESTIMATES ISSUED SHOWN GROWTH IN REAL GROSS
DOMESTIC PRODUCT SLOWED FROM A REVISED 10.7% IN THE FIRST QUARTER. ON A
QUARTER-ON-QUARTER BASIS, SEASONALLY ADJUSTED ANNUALISED BASIS, GDP GREW 1.1%
AFTER A 7% EXPANSION IN THE PREVIOUS QUARTER.
THE MANUFACTURING SECTOR IS
FORECASTED TO HAVE EXPANDED BY A MORE MODERATE 10.2% IN THE SECOND QUARTER,
MAINLY ATTRIBUTED TO LOWER PRODUCTION FROM THE BIOMEDICAL MANUFACTURING
CLUSTER. IT FELL BY ABOUT HALF FROM THE 20.2% IN THE FIRST QUARTER BUT HIGHER
THAN THE 9.3% REGISTERED FOR THE WHOLE OF 2005. THE MANUFACTURING SECTOR
ACCOUNTS FOR ABOUT A THIRD OF SINGAPORE’S ECONOMY WORTH S$194 BILLION.
THE KEY ELECTRONICS SECTOR IN
MANUFACTURING IS GROWING STRONGLY, AGAINST THE VOLATILE BIOMEDICAL SEGMENT. ELECTRONICS
ARE SINGAPORE’S MAIN EXPORT AND THE INDUSTRY ROSE 8.6% YEAR-ON-YEAR IN MAY,
BOOSTED BY A 38.9% GROWTH IN THE SEMICONDUCTOR SEGMENT.
THE ACTUAL FIGURES SHOWN THAT THE
CONSTRUCTION SECTOR GREW 0.2% IN THE SECOND QUARTER OVER 2Q2005. THIS IS IN CONTRAST
WITH A 0.8% DECLINE IN THE TWO PRECEDING QUARTERS AND DECLINES IN THE SIX
QUARTERS BEFORE THAT.
THE SERVICES SECTOR ACTUALLY ROSE 7%
FROM A YEAR EARLIER, SLOWER THAN THE 8.2% IN THE FIRST QUARTER BUT ABOVE THE 6%
RECORDED IN 2Q2005. SERVICES INDUSTRIES, WHICH RANGE FROM HOSPITALITY TO
TRANSPORT, MADE UP NEARLY TWO-THIRDS OF THE ECONOMY LAST YEAR. THOSE IN
FINANCIAL SERVICES, PARTICULARLY BANKERS, FUND MANAGERS AND STOCKBROKERS,
REPORTED STRONG GROWTH OF 9.5% FROM THE SAME PERIOD LAST YEAR AND UP FROM 8.7%
IN THE PREVIOUS QUARTER.
WHOLESALE AND RETAIL TRADE ROSE
10.1% IN THE SECOND QUARTER, AGAINST 15.1% IN THE PREVIOUS QUARTER, AS
WHOLESALERS WERE AFFECTED BY A SLOWDOWN IN NON-OIL RE-EXPORTS.
HOTELS AND RESTAURANTS GAINED 6.1%
IN THE SECOND QUARTER SLOWER THAN 7.1% IN THE LAST QUARTER.
ON THE EMPLOYMENT MARKET, MORE JOBS
WERE CREATED IN THE SECOND QUARTER BUT UNEMPLOYMENT ROSE TO 2.9% AS MORE
PEOPLE, ESPECIALLY TERTIARY GRADUATES, ENTERED THE JOB MARKET. SOME 36,500 MORE
JOBS WERE CREATED IN THE SECOND QUARTER, REFLECTING THE CONTINUED GROWTH IN THE
ECONOMY. IT BROUGHT THE TOTAL NUMBER OF JOBS CREATED IN THE FIRST HALF OF 2006
TO A RECORD 81,500, WHICH IS ABOUT TWO-THIRDS MORE THAN THE 49,500 REGISTERED
IN THE SAME PERIOD LAST YEAR.
THE SERVICE INDUSTRY CONTRIBUTED
MOSTLY TO THE JOBS CREATION, ADDING 24,200 JODS, WHILE MANUFACTURING AND
CONSTRUCTION POSTED INCREASE OF 8,300 AND 4,000 JOBS RESPECTIVELY.
RETRENCHED WORKERS TOTAL 3,100,
LOWER THAN THE 3,500 IN THE FIRST QUARTER, BUT HIGHER THAN THE 2,100 IN 2Q2005.
AHEAD
THE OUTLOOK FOR THE ECONOMY REMAINS
POSITIVE, AMID SIGNS OF A SLOWDOWN IN GLOBAL GROWTH. ON 8 AUGUST 2006, PRIME
MINISTER LEE HISEN LOONG ANNOUNCED THAT THE SINGAPORE ECONOMY GREW 9.4% IN THE
FIRST HALF OF 2005. AS A RESULT, BARRING AN OIL SHOCK, THE FULL YEAR OFFICIAL
FORECAST IS BEING RAISED TO BETWEEN 6.5% AND 7.5% FOR 2006, UP FROM THE EARLIER
5 TO 7% RANGE.
IN THE SECOND HALF, MODERATE GROWTH
WILL BE REGISTERED IN LINE WITH THE COOLING GLOBAL ECONOMY. BUT SURPRISINGLY, THE
COMPOSITE LEADING INDEX (CLI), AN INDICATOR THAT LEADS ECONOMIC ACTIVITY BY
ABOUT ONE TO TWO QUARTERS AHEAD, ROSE 1.5% IN ITS FASTEST GROWTH IN OVER TWO
YEARS. CLI COMPRISES NINE COMPONENTS SUCH AS MONEY SUPPLY, LIQUIDITY AND STOCK
PRICES.
THE GLOBAL ENERGY PRICES WILL
CONTINUE TO FLUCTUATE WITH THE VIOLENCE IN THE MIDDLE EAST AND POTENTIAL SUPPLY
PROBLEMS IN NIGERIA, IRAN AND IRAQ. OTHER RISK FACTORS INCLUDE AN AVIAN FLU
OUTBREAK, A SLOWDOWN IN THE UNITED STATES ECONOMY, AND THE UNWINDING OF GLOBAL IMBALANCES
SUCH AS THE US TRADE DEFICIT.
HOTELS AND RESTAURANTS ARE BANKING
ON SEPTEMBER’S INTERNATIONAL MONETARY FUND/WORLD BANK MEETING TO MAINTAIN THE
GROWTH MOMENTUM.
THE FINANCIAL SERVICES SECTOR IS
HOPEFUL THAT WITH THE PICK-UP IN BUSINESS LOANS, BILLION-DOLLAR HEDGE FUNDS
RELOCATING HERE FROM HONG KONG AND STRONG INSURANCE SALES, THE INDUSTRY WILL BE
GROWING ROBUSTLY FOR THE REST OF THE YEAR.
SLOWER 8.4%
GROWTH IN NON-OIL EXPORTS LAST MONTH
SINGAPORE’S NON-OIL DOMESTIC EXPORTS
(NODX) GREW AT A SLOWER-THAN-EXPECTED 8.4% IN JULY 2006 OVER THE SAME MONTH A
YEAR AGO, MAINLY DUE TO WEAKER SHIPMENTS OF ELECTRONICS, PHARMACEUTICALS AND
PETROCHEMICALS.
ELECTRONICS EXPORTS, WHICH ACCOUNTED
FOR SLIGHTLY LESS THAN HALF OF OVERALL NODX IN 2005, GREW 5% IN JULY TO S$6.62
BILLION. IT WAS THE 12TH STRAIGHT MONTH OF EXPANSION BUT WEAKER THAN THE 9.1%
GROWTH REGISTERED IN JUNE. IT WAS HURT BY A 23% FELL IN DISK DRIVE EXPORTS,
WHICH WAS BEING VALUED AT S$843 MILLION IN JULY, AND A 21% DECLINE IN PERSONAL
COMPUTER SHIPMENTS VALUED AT S$86 MILLION.
NON-ELECTRONIC EXPORTS, WHICH
CONSIST MAINLY OF PHARMACEUTICALS AND PETROCHEMICALS, ROSE 11.7% TO S$7.14
BILLION. PHARMACEUTICALS ROSE 7.1% TO S$1.27 BILLION IN JULY, SIGNIFICANTLY
SLOWER THAN THE JUNE’S RISE OF 25% TO S$1.45 BILLION. PETROCHEMICAL EXPORTS
ROSE 11.5% TO S$1.02 BILLION, IN COMPARISON WITH THE 32% GROWTH IN JUNE TO
S$1.1 BILLION.
SHIPMENTS TO SINGAPORE’S MAJOR
MARKETS SUCH AS MALAYSIA, HONG KONG AND THE UNITED STATES GREW IN JULY BUT
THESE WERE OFFSET BY DECLINES IN OTHER DESTINATIONS, INCLUDING JAPAN, CHINA AND
EUROPEAN UNION.
TOTAL TRADE IN JULY ROSE 15.9% TO
ALMOST S$69 BILLION.
REGIONAL ECONOMIST SONG SENG WUN OF
CIMB-GK RESEARCH PREDICTED THAT THE TECHNOLOGY SECTOR COULD ENJOY A REBOUND IN
THE COMING MONTHS AS DEMAND TYPICALLY PICK UP WITH THE CHRISTMAS SEASON. THE
TECHNOLOGY EXPORTS WILL GROW BY THE LOW-TO-MID TEENS RANGE AS THE DISK DRIVE
EXPORTS IMPROVE.
EXTRACTED FROM : MINISTRY OF TRADE
AND INDUSTRY, SINGAPORE
IE SINGAPORE
THE STRAITS TIMES
TODAY
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|