MIRA
INFORM REPORT
|
Report Date : |
14.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SYNAPSE COMMUNICATIONS PRIVATE LIMITED |
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Registered Office : |
B - 523, 2nd Floor, New Friends Colony, New Delhi – 110065 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
17.12.1999 |
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Com. Reg. No.: |
55 – 102858 |
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CIN No.: [Company
Identification No.] |
U73100DL1999PTC102858 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTS03654A |
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PAN No.: [Permanent
Account No.] |
AAECS7071E |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The company is engaged in providing Web
Designing & Web Development and Software Development. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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
30000 |
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Status : |
Good |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track. Trade relations are fair. Financial
position is satisfactory. Payments
are correct and as per commitments. The
company can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
B - 523, 2nd Floor, New
Friends Colony, New Delhi – 110065, India |
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E-Mail : |
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Website : |
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Factory
1 : |
F 18, Sector 11, Noida - 201301, Uttar Pradesh |
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Tel.
No.: |
91-120-4330500 |
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Fax
No.: |
91-120- 2546941 |
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E-Mail
: |
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Location : |
Industrial
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DIRECTORS
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Name : |
Mr Vijay Kumar Gupta |
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Designation : |
Director |
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Address : |
12, Sameer Vihar, Modi Nagar, Ghaziabad – 201 204, Uttar Pradesh |
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Date of Birth/Age : |
01/02/1948 |
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Date of Appointment : |
17/12/1999 |
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Name : |
Mr Shamit Khemka |
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Designation : |
Director |
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Address : |
B-523, 2nd Floor, New Friends Colony, New Delhi – 110 065 |
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Date of Birth/Age : |
27/05/1974 |
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Date of Appointment : |
01/06/2000 |
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Name : |
Mr Kapil Gupta |
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Designation : |
Director |
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Address : |
D-49, Ramprastha Colony, Ghaziabad-201 011, Uttar Pradesh |
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Date of Birth/Age : |
30/09/1972 |
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Date of Appointment : |
01/06/2000 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr Vijay Kumar Gupta |
1200 |
2.00 |
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Mr Shamit Khemka |
14400 |
24.00 |
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Mr Pankaj Sachdeva |
1200 |
2.00 |
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Mr Kapil Gupta |
1200 |
2.00 |
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Mr Chander Bala Modi |
21000 |
35.00 |
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Ms Ritika Modi |
21000 |
35.00 |
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TOTAL |
60000 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company is engaged in providing Web
Designing & Web Development and Software Development. |
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Exports to : |
U.S.A.,
U.K. and Canada |
GENERAL
INFORMATION
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Customers : |
armyinkashmir.org TeamInfoSec, Ireland Mod Travels & Tours AAXA AdPlusetc Advancedav AIAgear Alldanzradio Americancareer Counselling Americanwest American Auto Appraisers Angel Fire Arizona Storage Centers Benchmark Furniture Balighting Bamwala Bankforceclosures CJ Rogers College & Career Confleet Damea Designbar Diamond Head Dinner Point Flexwood Forgivenjewelry Gift Shrop Gift Silver Natural Shop Noveltiesgalore NSofa.com Planit Mortgage Polaris Telemetry Preferred Appraisal Prepadlegal Insurance VIP Crazy White Bluff |
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Bankers : |
ICICI Bank Limited Citi Bank State Bank of India Bank of Baroda |
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Banking Relations : |
Satisfactory
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Auditors : |
M C Jain & Company Chartered Accountants, Contact us : Mr. K. Manoj Patawari |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
100000 |
Equity
Shares |
Rs. 10/- each |
Rs. 1.000 million |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
60000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.600 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.600 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.728 |
4.465 |
2.277 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.328 |
4.565 |
2.377 |
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LOAN FUNDS |
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1] Secured Loans |
6.520 |
0.900 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6.520 |
0.900 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.128 |
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TOTAL |
13.848 |
5.465 |
2.505 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.578 |
2.814 |
1.702 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.520 |
0.702 |
0.702 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
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Sundry Debtors |
0.106
|
0.027 |
3.628 |
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Cash & Bank Balances |
2.347
|
5.188 |
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Other Current Assets |
0.000
|
0.000 |
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Loans & Advances |
0.510
|
2.845 |
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Total Current Assets |
2.963
|
8.060 |
3.628 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
6.681
|
5.781 |
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Provisions |
0.536
|
0.333 |
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Total Current Liabilities |
7.217
|
6.114 |
3.531 |
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Net Current Assets |
[4.254]
|
1.946 |
0.097 |
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MISCELLANEOUS EXPENSES |
0.004 |
0.003 |
0.004 |
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TOTAL |
13.848 |
5.465 |
2.505 |
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PROFIT
& LOSS ACCOUNT
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PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
19.974 |
11.948 |
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Profit/(Loss)
Before Tax |
|
2.598 |
2.393 |
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Provision
for Taxation |
|
0.335 |
0.206 |
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Profit/(Loss)
After Tax |
|
2.263 |
2.187 |
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Export
Value |
|
19.450 |
11.123 |
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Import
Value |
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1.984 |
1.498 |
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Total
Expenditure |
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16.064 |
8.891 |
KEY
RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
11.32
|
18.30 |
N.A. |
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Net
Profit Margin (PBT/Sales) |
(%) |
13.00
|
20.02 |
N.A. |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
14.01
|
22.00 |
N.A. |
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Return
on Investment (ROI) (PBT/Networth) |
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0.35
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0.52 |
N.A. |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
1.87
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1.53 |
1.48 |
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Current
Ratio (Current
Asset/Current Liability) |
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0.41
|
1.31 |
1.02 |
LOCAL AGENCY
FURTHER INFORMATION
Services :
The Subject provides Web Designing, Web Development, SEO, Software Development, Offshore Outsourcing, Consulting Services.
Web Design
Flash Design
Graphic Design
Template Design
Logo Designing
Web Redesign
Corporate Identity Design
Website Development
Inventory Management Software
eCommerce Solutions
Payroll Management Software
Shopping Cart Solution
Payment Gateway Solutions
ERP Software Services
SEO Services
Link Popularity Building
Internet Marketing
Web Promotion
PPC Management
Affiliate Marketing
SEO Consultant
Offshore Software Development
Java Application Development
NET Application Development
C, C++ Programming
Linux Programming
Mobile Application Programming
Game Development
WEBSITE
DETAILS
About us
:
Welcome
to Synapse Communications (Synapse India). India's premier customised software
solutions company. Headquartered in New Delhi, the Indian capital, Synapse has
representative offices worldwide.
At
Synapse, they develop innovative and creative products and services that
provide total communication and information solutions. Among a plethora of
services, web designing and programming, shared and dedicated hosting,
e-commerce solutions, customised software applications, network security and
internet telephony solutions are a few that they offer. Satisfied clients from
the U.S.A. to U.K., Malyasia to Mumbai bear testimony to the quality of their
work.
As a member of Software Technology Parks of India (STPI), Synapse
Communications is committed to exporting quality software worldwide. STPI accreditation helps Synapse
interface with the Indian government and leverage its natural advantages to
offer quality solutions at extremely competitive prices.
Synapse is also a member of NASSCOM, the apex Indian organisation of software
companies. This helps Synapse keep abreast of the latest developments in the
Indian IT industry and to work with international companies on a common
platform. Synapse is committed to propagating the message of quality Indian
software worldwide.
Member :
Federation of Indian Chambers of Commerce and Industry
Indo-American Chamber of Commerce
Solutions They
Provide :
Their are what their
are because of what their have to do: Work. Their raison d'etre. Their do
everything from ASP to JSP; for the Army & the United Nations. Their can do
the same for you.
Their Solutions and Services
Web designing
Experienced graphic artists & programmers create web sites using latest
soft-wares and techniques
Bespoke
website design
Web designers, developers & analysts, based on individual objectives and
needs, offer customized web solutions.
E-commerce
solutions
Competitive B2B & B2C solutions for all types of Internet requirements
including e-tailing and e-transactions
Software
development
Customized software solutions created by their experts catering to specialized
needs
Business
solutions
Customized software solutions for small and mid-sized enterprises
Dedicated
Hosting
This ensures that your server is specifically yours. Their give you root
access.
Network
security
Protection of websites and sensitive corporate networks using the latest tools
and methodologies
Hackers
protection
Protection for websites through the creation of special patches and security
measures, using their own hackers
Search Engine
Optimization
Websites Search engine optimization (SEO), promotion consultancy and analysis,
online marketing
AJAX
Development
Asynchronous JavaScript and XML or AJAX development model to create interactive
web applications
IT Staff
Augmentation services
Employing skilled manpower at their organization to work exclusively for you
from their offices at a fixed cost
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.45.16 |
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UK
Pound |
1 |
Rs.85.99 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 EXPLANATIONS
|
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 |
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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 |
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