MIRA INFORM REPORT
|
Report
Date : |
03.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
HETERO DRUGS PRIVATE LIMITED |
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Registered
Office : |
Hetero House, 2nd Floor, Deccan Chambers,
8-3-166/7/1/B Erragada, Hyderabad 500018, Andhra Pradesh |
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Country
: |
India |
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Financials
(as on) : |
31.03.2004 |
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Date
of Incorporation : |
06.04.1993 |
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Com.
Reg. No.: |
01-15582 |
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CIN
No.: [Company Identification No.] |
U24230AP1993PTC015582 |
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TAN
No.: (Tax Deduction & Collection Account No.) |
MYDH00393B |
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PAN
No.: (Permanent Account No.) |
AAACH5071K |
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Legal
Form : |
Private
limited liability company. |
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Line
of Business : |
Subject
is engaged in the business as manufacturers of pharma bulk drugs and drug
intermediates such as lomef loxacin hydrochloride, centriline di hydrochloride,
lanmsoprazole, etc. |
RATING & COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered
normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum
Credit Limit : |
USD
4250000 |
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Status
: |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is a
well-established company having fine track.
Directors are reported as experienced, respectable and resourceful
businessmen. Their trade relations
are reported as fair. Financial
position is good. Payments are
usually correct and as per commitments. The company can be considered good for normal business
dealings. It can be regarded as a promising business partner in a medium to
long – run |
LOCATIONS
|
Registered
Office : |
Hetero House, 2nd Floor, Deccan Chambers,
8-3-166/7/1/B Erragada, Hyderabad 500018, Andhra Pradesh, India |
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Tel.
No.: |
91-40-2370
4922 / 23 / 24 / 25 / 23707612 |
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Fax
No.: |
91-40-2370
4926 / 2371 4250 |
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E-Mail
: |
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Website
: |
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Area : |
3000 Sq.ft |
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Location : |
Rented |
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Factory: |
Ø
Unit
I - Bonthapally Village, Jinnaram Mandal, Medak District, Andhra Pradesh,
India Tel No. : 91-912-275271 Ø
Unit
II – Plot no. 16, CIE, Gandhinagar, Jeedimetla, Hyderabad, Andhra Pradesh,
India Ø
Unit
III – 22-110, IDA, Jeedimetla, Hyderabad, Andhra Pradesh, India Ø
S.
No.10, IDA, Gaddapotharam, Khajapally Village, Jinnaram Mandal, Medak Andhra
Pradesh, India Tel. No. (08459)277100 |
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Research
And Development Centre: |
Plot No.
B 80 & 81, APIE Balanagar, Hyderabad, Andhra Pradesh, India |
DIRECTORS
|
Name : |
Dr. B. Parthasaradhi Reddy |
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Designation
: |
Chairman & Managing Director |
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Name : |
Mr. B. Nagireddy |
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Designation
: |
Executive Director |
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Name : |
Mr. M. Pera Reddy |
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Designation
: |
Director (Finance) |
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Name : |
Mr. Dharmesh M. Shah |
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Designation
: |
Director Business Development |
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Address
: |
Flat No. 201, Jamuha Niketan, Nanalimandir Road,
Waalkeswar, Mumbai – 400006 |
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Date
of Appointment : |
29.09.2005 |
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Name : |
Mr. A. V. Narasa Reddy |
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Designation
: |
Director Corp. Tech. |
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Name : |
Mr. J. Sambi Reddy |
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Designation
: |
Director Production |
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Name : |
Mr. C. Bhaskar Reddy |
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Designation
: |
Director Quality Control |
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Name : |
Mr. M. Srinivasa Reddy |
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Designation
: |
Director |
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Name : |
Mr. B. Narsa Reddy |
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Designation
: |
Director |
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Name : |
Mr. C. Mohan Reddy |
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Designation
: |
Director |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr. B.
Parthasaradhhi Reddy |
429760 |
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Mr. B.
Kalavathi |
353640 |
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Mr. B.
Krishna Sinduri |
150000 |
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Mr. B.
Vamsi Krishna |
398000 |
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Mr. M.
Srinivasa Reddy |
200 |
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Mr. B.
Srinivasula Reddy |
200 |
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Mr. B.
Soma Kantham |
200 |
BUSINESS DETAILS
|
Line
of Business : |
Subject is engaged in the business as manufacturers of
pharma bulk drugs and drug intermediates such as lomef loxacin hydrochloride,
centriline di hydrochloride, lanmsoprazole, etc. |
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Products
: |
Ø
Bulk
Drugs Ø
Losartan
Potassium Ø
Omeprazole Ø
Formulations Ø
Bicalutomide Ø
Simvastatin Ø
Tegaderoid
Maleate Ø
Quetiapine
Fumerate |
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Exports
to : |
Europe |
PRODUCTION STATUS
|
Particulars |
Installed Capacity |
Actual Production |
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Bulk
Drugs |
42000 |
40899 |
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GENERAL INFORMATION
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No. of
Employees : |
25 |
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Bankers
: |
v State Bank of Hyderabad, Sanath
Nagar Branch, Industrial Area Hyderabad –
500018, Andhra Pradesh Ø
State
Bank of India, Balanagar, Hyderabad - 500 037, Andhra Pradesh, India Ø
State
Bank of Mysore Ø Bank of India, Khairatabad Branch,
Hyderabad Ø
Industrial
Development Bank Limited, Mahavir House, Basheerbagh Hyderabad –
500039, Andhra Pradesh Ø
Andhra
Bank, Industrial Fin Branch – Ameerpet, Hyderabad |
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Banking Relations : |
Satisfactory |
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Auditors
: |
M.V.
Narayana & Company Chartered
Accountants |
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Address: |
504,
Vijaysree Apartments, Ameerpet, Hyderabad - 500 073, Andhra Pradesh, India |
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Associates: |
Ø
Hetero
International, Mumbai Tel. No. 91-22-2206 5498 /2206 5507 / 2206 6075 Ø
Hetero
Labs Private Limited, Hyderabad, Andhra Pradesh Ø
Genix
Pharma Limited, Hyderabad, Andhra Pradesh Engaged in manufacturing of
formulations Ø
Symed
Labs Private Limited, Hyderabad, Andhra Pradesh Ø
Cirex
Pharmaceuticals Limited Ø
Kemira
Laboratories Limited Ø
Lyka
Hetero Health Care Limited Ø
Hetero
Biotech Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
10000000 |
Equity
shares |
Rs. 10/- each |
Rs. 100.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
3450000 |
Equity
shares |
Rs. 10/- Each |
Rs. 34.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS
FUNDS |
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1] Share
Capital |
34.500 |
34.500 |
34.500 |
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2] Share
Application Money |
0.000 |
-- |
-- |
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3]
Reserves & Surplus |
1036.300 |
826.964 |
768.783 |
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4]
(Accumulated Losses) |
0.000 |
-- |
-- |
|
NETWORTH
|
1070.800 |
861.464 |
803.283 |
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LOAN
FUNDS |
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1]
Secured Loans |
868.100 |
555.991 |
609.933 |
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2]
Unsecured Loans |
51.600 |
123.979 |
47.324 |
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TOTAL
BORROWING
|
919.700 |
679.970 |
657.257 |
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DEFERRED
TAX LIABILITIES |
|
97.712 |
0.000 |
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TOTAL
|
1990.500 |
1639.146 |
1460.540 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
666.600 |
524.987 |
468.644 |
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Capital work-in-progress
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INVESTMENT
|
212.500 |
168.101 |
54.988 |
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DEFERREX TAX ASSETS
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
|
714.900 |
578.425 |
508.179 |
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Sundry Debtors
|
1024.600 |
648.168 |
766.647 |
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Cash & Bank Balances
|
14.500 |
19.516 |
21.728 |
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Other Current Assets
|
0.000 |
-- |
-- |
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Loans & Advances
|
189.500 |
118.081 |
79.937 |
Total Current Assets
|
1943.500 |
1364.190 |
1376.491 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
|
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Current Liabilities
|
760.600 |
391.151 |
410.623 |
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Provisions
|
71.500 |
27.005 |
29.000 |
Total Current Liabilities
|
832.100 |
418.156 |
439.623 |
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Net
Current Assets
|
1111.400 |
946.034 |
936.868 |
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MISCELLANEOUS EXPENSES
|
0.000 |
0.024 |
0.040 |
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TOTAL
|
1990.500 |
1639.146 |
1460.540 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
Sales Turnover [including other income]
|
3083.000 |
1789.762 |
2016.247 |
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|
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Profit/(Loss) Before Tax
|
318.700 |
179.828 |
176.306 |
Provision for Taxation
|
102.400 |
32.298 |
31.392 |
Profit/(Loss) After Tax
|
216.300 |
147.530 |
144.914 |
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Total
Expenditures |
2764.300 |
1609.931 |
1839.921 |
KEY
RATIOS
|
PARTICULARS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
Debt Equity Ratio |
0.83 |
0.80 |
0.67 |
|
Long Term Debt Equity Ratio |
0.83 |
0.80 |
0.67 |
|
Current Ratio |
2.45 |
2.87 |
2.58 |
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TURNOVER RATIOS |
|
|
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Fixed Assets |
4.17 |
3.31 |
4.11 |
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Inventory |
4.58 |
3.55 |
4.53 |
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Debtors |
3.54 |
2.73 |
2.89 |
|
Interest Cover Ratio |
5.37 |
3.40 |
4.56 |
|
Operating Profit Margin (%) |
14.35 |
14.59 |
12.58 |
|
Profit Before Interest and Tax Margin (%) |
13.22 |
13.19 |
11.45 |
|
Cash Profit Margin (%) |
8.43 |
9.04 |
8.48 |
|
Adjusted Net Profit Margin (%) |
7.30 |
7.64 |
7.35 |
|
Return on Capital Employed (%) |
22.18 |
16.97 |
18.45 |
|
Return on Net Worth (%) |
22.39 |
17.72 |
19.73 |
LOCAL AGENCY FURTHER INFORMATION
Director Report :
The new products made a
major contribution to the turnover & profit of the year 2002 – 2003 the
management is planning to introduce some more products during the current year.
The company during the year under review made exports of Rs.
296.250 Millions (Including deemed exports of Rs. 167.802 Millions ) as against
exports of Rs. 328.536 Millions (Including deemed exports of Rs. 283.526
Millions ) of Previous year. The BOD recommended a div of equity shares for the
year 31.03.2003
First Paripassu Charge to ;
v Industrial Development Bank of India
– Term Loan Rs. 110.000 Millions
v State Bank of Mysore Corporate Loan
Rs. 100.000 Millions
v Andhra Pradesh Term Loan Rs.
3000.000 Millions
v State Bank of India Term Loan Rs.
300.000 Millions
Enhancement of Working capital limits by SBH, Sanathnagar
Branch, Hyderabad
The Chairman informed the Board that State bank of Hyderabad
has sanctioned the enhancement of working capital limits. After some discussion
of following limits are agreed to take from State Bank of Hyderabad,
Sanathnagar Branch, Hyderabad
|
Type of Facility |
Existing Limits |
Proposed Limits [Rs In millions] |
|
Fund Based Limits CC [Hypothecation]
[PC/FUBD/Cheques/WCDL] |
450.000 |
594.000 |
|
Total Fund Based |
450.000 |
594.000 |
|
Non Fund Based Limits |
|
|
|
Letters of Credit [FLC/ILC] |
315.000 |
450.000 |
|
Bank Guarantee |
45.000 |
90.000 |
|
Total Non-Fund Based |
360.000 |
540.00 |
|
Total Limits |
810.000 |
1134.000 |
The company do accept the offer of State Bank of Hyderabad,
to sanction the working capital limits of Rs. 1134.000 millions on terms and
conditions contained in the sanctioned letter received from State bank of
Hyderabad.
Form 8 Particular for creation or modification of
charges
|
Corporation identity number or foreign company
registrations number of the company |
U24230AP1993PTC015582 |
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Name of the company |
HETERO
DRUGS PRIVATE LIMITED |
|
Address |
8-3-166/7/1/B, 2nd Floor, Deccan Chambers,
Erragada, Hyderabad-500018, Andhra Pradesh, India |
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This Form is for |
Modification of charge |
|
Type of Charges |
Hypothecation |
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Particular of the charge holder |
State Bank of Hyderabad Sanath Nagar Branch, Industrial Area Hyderabad – 500018, Andhra Pradesh |
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Amount Secure by the charge |
Rs. 2559.800 Millions |
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Brief of the principal terms and conditions and extent and
operation of the charge |
Rate of Interest : Ratemitually agreed between the bank
and company |
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Description of the property charge whether it is a charge
on |
Stock in trade |
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Modification charge Charge identification number of the charge to be modified |
90123976 |
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Date of instrument modifying the charge |
07.07.2006 |
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Particulars of the Property charged |
All goods, Book epts.., movables and other assets situated
at various Units of the company |
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Particular of the present modification |
Extension of limits S B H from Rs. 810 millions, B O I
From Rs. 576 Millions to 806.4 Millions, S B I from Rs. 216.000 Millions to
302.4 Millions and S B M from Rs. 198.000 millions to 317 millions |
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|
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Corporation identity number or foreign company
registrations number of the company |
U24230AP1993PTC015582 |
|
Name of the company |
HETERO
DRUGS PRIVATE LIMITED |
|
Address |
8-3-166/7/1/B, 2nd Floor, Deccan Chambers,
Erragada, Hyderabad-500018, Andhra Pradesh, India |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
State Bank of Hyderabad Sanath Nagar Branch, Industrial Area Hyderabad – 500018, Andhra Pradesh |
|
Amount Secure by the charge |
Rs. 1134.000 Millions |
|
Description of the property charge whether it is a charge
on |
Stock in trade and Book debts |
|
Modification charge Charge identification number of the charge to be modified |
90123976 |
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Brief Description of the instrument modifying the charge
under section 135 |
Deed of Hypothecation |
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Date of instrument modifying the charge |
19.05.2006 |
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Particular of the present modification |
CCL enhanced from Rs. 10.000 to Rs. 1134.000 millions |
|
|
|
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Corporation identity number or foreign company
registrations number of the company |
U24230AP1993PTC015582 |
|
Name of the company |
HETERO
DRUGS PRIVATE LIMITED |
|
Address |
8-3-166/7/1/B, 2nd Floor, Deccan Chambers,
Erragada, Hyderabad-500018, Andhra Pradesh, India |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
Industrial Development Bank of India Mahavir House Basheerbagh Hyderabad – 500039 Andhra Pradesh |
|
Nature or description of the instrument creating
charge |
v Memorandum of Entry v Declaration and undertaking v Letter of confirmation regarding
deposit of title deeds |
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Amount Secure by the charge |
Rs. 810.000 Millions |
|
Modification charge Charge identification number of the charge to be modified |
90124520 |
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Date of instrument modifying the charge |
14.09.2006 |
|
Brief particulars of the principal terms and conditions
and extent and operation of the charge |
As perthe terms and conditions agreed upon between the
Bankers and company rate of interest is 8.50 % p.a. Terms of repayment : Repayable in Quarterly installments Margin : 25 % |
|
Short particulars of the property charged |
Land and building situated at Unit – 1, Bonthapally,
Jinnaram Mandal, Medak |
|
Name
of the company |
HETERO DRUGS PRIVATE
LIMITED |
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Presented By |
Mr. M. Pera Reddy, Director- Finance |
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1) Date
and description of instrument creating the change |
14.03.1998 Joint deed
of hypothecation Working
capital consortium agreement Inter se
agreement between State Bank of Hyderabad, Bank of India and State Bank of
India |
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2) Amount
secured by the charge/amount owing on the securities of charge |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Hypothecation
of Stock, Raw Materials, Semi finished Goods, Finished Goods, Stores and
Receivables, Book debts and other movable assets |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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4) Gist
of the terms and conditions and extent and operation of the charge. |
Interest including all taxes @ 16.75 % All working capital limits shall be repayable on demand. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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5) Name
and Address and description of the person entitled to the charge. |
State Bank of Hyderabad Sanathnagar Branch Hyderabad Bank of India Khairatabad Branch Hyderabad State Bank of India Balanagar Branch Hyderabad |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
6)
Date and brief description of
instrument modifying the charge |
Date
29.01.20014 Joint Documentation Instruments Letter of
Authority to Lead Bank Modified
Letter of Authority to lead Bank Joint
deed of Hypothecation Inter se
agreement among Ø
State
Bank of Hyderabad Ø
Bank
of India Ø
State
Bank of India Ø
State
Bank of Mysore |
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7)
Particulars of modifications specifying the terms and conditions or the
extent of operations of the charge in which modification is made and the
details of the modification. |
Particular of Interest
and commission
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Website details are attached herewith:
Established in the year 1993, with the motto to be the best
in the API Manufacture, Hetero today embodies the vision of a top notch player
in developing and commercialising products catering to a variety of therapeutic
categories, integrating into a leading finished dosage manufacturer.
True to the Statement, "Where the Future Started
Yesterday", with a foresight on the current trends in the Pharmaceutical
Market, Hetero has grown from strength to strength, combining its Research
Strengths, Manufacturing Capabilities ,Human Resources and well established
quality management system.
With full-fledged marketing capabilities, the company has
been able to market its products in over 80 countries in Asia, Middle-east,
Eastern Europe and Latin America.With it's compliance to the most stringent
regulatory requirements, Hetero has today gained foothold to market several of
its APIs in the United States, Canada and Europe.
With all six manufacturing facilities being supported by
excellent infrastructure and compliance to the GMP requirements , Hetero has
crossed numerous milestones in a comparatively small period since its
inception.
The spirit and brain behind the success story of Hetero is
its founder Dr.BPS Reddy, a Scientist who started the company drawing immense
strength from the vast and rich experience he gained during his earlier stint
at the Laboratory where he was instrumental in developing and commercilising
processes for several APIs .
The Company was started by him with a vision to be
recognised as an aggressive company that combines its strength of R&D and
manufacturing with definite advantages in terms of cost and chemistry with a
strong emphasis on Quality of the products.
The untiring efforts of the Chairman saw Hetero develop processes
for several products at relatively low cost, thus making it possible for
several life saving drugs to be available at affordable prices, meeting all the
Regulatory and Quality norms.
With the organisation having reached a point where it is
identified among the widely recognised companies, the Chairman is now focussing
on giving new dimensions to the company in terms of exploring possibilities of
further growth, exploring new horizons in the field of Pharmaceutical development and evolving
strategies to take the company to greater heights. All the members of Hetero
Family draw inspiration and motivation from the Chairman in working towards
achieving the Organisational Goals.
The Company has been Scaling New Heights on a Continual
basis. These achievements have been the result of concerted efforts on the part
of different functions within the organisation to achieve the organisational
goal of being a leader.
In its path to sucess Hetero has seen many a milestone being
crossed and many awards on various fronts, to name a few, its efforts in
R&D and in marketing.
A track of few events that saw Hetero reaching its Zenith of
glory are :
National Award for “Best Efforts in Research and Development”
from the Department of Scientific and Industrial Research,
Ministry of Science and Technology, Government of India, in the year 1996.
Highest Exporter award(for the year 1999) against stiff competition from
internationally recognized domestic competetors.
Approval of the API facilities by USFDA for compliance to CGMP norms.
Approval of the finished dosage facilities by WHO for the
supply of anti-retroviral drugs.
Hetero visualizes itself as an aggressive player in the
global pharmaceutical scenario, supplying generics developed, combining
intellectual property, research strengths and strong human resource inputs.
The company values the concepts of having social
responsibilities in the course of its assent to greater heights. It strongly
believes in focusing on customer requirements and delivering the products at
the right pace.
Hetero considers its human resources as the core of all its
capabilities and believes in tapping and honing the talents of its members to
reach the zenith of success.
It
believes in continuous evaluation and improvement in all the factors that
contribute in transforming the organization into a global force to reckon with.
Hetero takes due cognizance to the fact that the processes
that it develops should be all eco-friendly and should not result in any
consequence that harms the ecological harmony.
CMT REPORT
[Corruption, Money laundering & Terrorism]
The Public Notice information has been collected from
various sources including but not limited to: The Courts, India Prisons
Service, Interpol, etc.
1] INFORMATION ON DESIGNATED PARTY
No
records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that
subject is or was the subject of any formal or informal allegations,
prosecutions or other official proceeding for making any prohibited payments or
other improper payments to government officials for engaging in prohibited
transactions or with designated parties.
3] Asset Declaration :
No
records exist to suggest that the property or assets of the subject are derived
from criminal conduct or a prohibited transaction.
4] Record on Financial Crime :
Charges or
conviction registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with Government :
No record exists to
suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report
:
No press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments
on Corporate Governance to identify management and governance. These factors
often have been predictive and in some cases have created vulnerabilities to
credit deterioration.
Our Governance Assessment focuses principally on the
interactions between a company’s management, its Board of Directors,
Shareholders and other financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local
laws, regulations or policies that prohibit, restrict or otherwise affect the
terms and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.83 |
|
UK Pound |
1 |
Rs.85.36 |
|
Euro |
1 |
Rs.57.21 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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%)
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 |
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 |