MIRA
INFORM REPORT
|
Report Date : |
25.10.2006 |
IDENTIFICATION
DETAILS
|
Name : |
PERECISION
TECHSERVE PRIVATE LIMITED |
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|
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Registered Office : |
Old
No. 150, New No. 22, First Floor, Above Canara Bank, Habibullah Road, T
Nagar, Chennai – 600017, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2003 |
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Date of Incorporation : |
23.02.1999 |
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Com. Reg. No.: |
18-41955 |
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CIN No.: [Company
Identification No.] |
U51909TN1999PTC041955 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEP06812B |
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PAN No.: [Permanent
Account No.] |
AABCP8005C |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturers and
Dealer of Networking Equipment, and has Specialized in Equipment from Cisco
Systems, Nortel Networks, 3Com, Checkpoint, IBM, HP & Computer
Associates, Avaya, Krone and Tyco Electronics |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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Status : |
Satisfactory
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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. General financial position is satisfactory. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
Old
No. 150, New No. 22, First Floor, Above Canara Bank, Habibullah Road, T
Nagar, Chennai – 600017, Tamilnadu |
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Tel. No.: |
91-44-52199515 |
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Fax No.: |
91-44-52199500 |
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E-Mail : |
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Website : |
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Factory
1 : |
SP - 7A, IInd Floor, Guindy Industrial
Estate Guindy , Chennai - 600 032 |
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Tel.
No.: |
91-44-39872100 |
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Fax
No.: |
91-44-39872122 |
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Service Desk: |
91-44-39872121 |
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E-Mail
: |
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Branches
: |
Bangalore
Mumbai
New No.34-1, Old No.28, Remy Layout, 3rd Cross Bharathi Park
Road, Old No.128, New No.1, First Cross, Ponnagar, Trichy - 620 001. Hyderabad
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DIRECTORS
|
Name : |
Mr. T
G Ramesh |
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Designation : |
Director
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Profile: |
TGR
has around 20 years of experience in managing finance and back-end
operations. A commerce graduate from University of Madras, TGR started his career as an accounts
executive in a manufacturing company and held various positions in financial
management over the last 20 years. He had joined HCL in 1988 and was heading
the finance and commercial operations, when he moved on in 1996 to start
Precision Group. He was the brain behind putting together prudent finance
management practices for the group and spearheads the financial and
commercial activities of the group. |
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|
Name : |
Mr. V
Murali |
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Designation : |
Director
|
|
Profile: |
A sales veteran with over two decades of
experience in handling sales operations at various levels. A commerce
graduate from Madras University , he has started off his career in health
care industry and moved to IT during late eighties. He had a stint with HCL
for 7 years, during which he has handled various assignments such as Channel
Management, Direct Sales Team Management etc. He was instrumental in revamping
the whole channel network of HCL in South India . He was involved in putting
together new channel policies of HCL and identification of new channel
partners, appointing them, and conducting channel preparedness programs. He
was involved in business process re-engineering for HCL in West as Divisional
Manager before starting up Precision Group in 1996. As a Founder Director he
handles marketing and business development activities of the computer
products business. |
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|
Name : |
Mr.
Mathew Chacko |
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Designation : |
Director
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|
Profile: |
Mathew carries over 18 years of
experience in IT service delivery functions at various levels. A graduate
engineer from University of Madras , he started his career with HCL (the
largest IT Company in India ) as a customer support engineer and rose to the
level of heading the support services for HCL Front Line one of the group
companies of HCL in a span of 9 years. His achievement included, putting
together customer support processes across the country. An ITSM certified
professional, he manages the Services Delivery operation of the group, which
are modeled as per ITSM Processes. As a Founder Director he is responsible
for the technology initiatives and is instrumental in devising, implementing
and managing the support operations of the group. |
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|
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Name : |
Mr. P
Ramesh |
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Designation : |
Director
|
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Profile: |
Ramesh
carries over 14 years of experience in Sales, Marketing, Product Management
and Technology Consulting Services. He has a bachelor degree in Mathematics
(B.Sc) form University of
Madras and went on to do a Graduation Course in
Technology (B.Tech) from Madras
Institute of Technology, Anna University .
He also started his career with HCL as a Sales Professional where he had a
rewarding career in key account management. He had graduated to Product
Management during the later part of his career with HCL and he was a key
member of HCL's task force, which launched a very successful mass-market PC
campaign code named OCTOPUS during mid nineties. As a Product Manager, he was
nationally spearheading product packaging, merchandising, pricing, channel
orientation and marketing communication. After a stint of 8 years with HCL,
he had moved to Precision Group in 1998 to set up the technology solutions
company Precision Techserve. He handles the technology consulting and
strategic business initiatives. |
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|
|
|
Name : |
Mr. V
M Murlidharan |
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Designation : |
Director
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Profile: |
Mike carries 21 years of experience in sales and business management at various levels.A Graduate Engineer in Electronics and Telecommunications from College of Engineering,Guindy, he had started as Graduate Engineer Trainee through Campus recruitment programme at Wipro in 1983. Worked in field marketing positions and started Wipro's Coimbatore Area Office in 1988. Joined HCL in 1990 as Regional Sales Manager at Chennai to initiate a structured business model to handle channel business. Handled Corporate, BFSI and STP
business over the next decade. Graduated in Phil Crosby's QIPM and
is a qualified Quality Trainer. Held various positions in South Indian
operations at HCL and was heading the Operations at Bangalore , the IT
Capital in 2000. He has joined the precision team in 2001 and currently
manages the business operations of the technology & services business. |
MAJOR SHAREHOLDERS
100%
Directors and Relatives
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and
Dealer of Networking Equipment, and has Specialized in Equipment from Cisco
Systems, Nortel Networks, 3Com, Checkpoint, IBM, HP & Computer
Associates, Avaya, Krone and Tyco Electronics |
|
|
|
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Products : |
v Structured Cabling Products v LAN Switches v Routers & Multiplexers v Modems v IP Telephony & VOIP Products v Wireless Networking Products v Firewall, VPN & IDS Products v Enterprise Anti-Virus Suites v Enterprise Data Back-up Products v Network Management Solutions v Internet Infrastructure / Content Delivery Products v
Messaging Solution |
GENERAL
INFORMATION
|
Bankers : |
v
Canara
Bank, T Nagar, Chennai – 600017 v
Bank
of Baroda, Chennai – 600018 |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory
|
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Auditors : |
Suresh
& Balaji Chartered
Accountant |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
150000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 1.500 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 0.100 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2003 |
31.03.2002 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.002 |
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2] Share Application Money |
|
1.360 |
1.458 |
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3] Reserves & Surplus |
|
1.677 |
0.788 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
3.137 |
2.248 |
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LOAN FUNDS |
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|
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|
1] Secured Loans |
|
0.550 |
1.554 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.550 |
1.554 |
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DEFERRED TAX LIABILITIES |
|
0.752 |
0.000 |
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TOTAL |
|
4.439 |
3.802 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
3.317 |
1.658 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
0.490 |
0.741 |
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Sundry Debtors |
|
3.751 |
2.455 |
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Cash & Bank Balances |
|
0.063 |
0.992 |
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
1.098 |
1.641 |
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Total Current Assets |
|
5.402 |
5.829 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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|
|
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Current Liabilities |
|
4.863 |
4.417 |
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Provisions |
|
0.000 |
0.000 |
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Total Current Liabilities |
|
4.863 |
4.417 |
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Net Current Assets |
|
0.539 |
1.412 |
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MISCELLANEOUS EXPENSES |
|
0.583 |
0.732 |
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TOTAL |
|
4.439 |
3.802 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2003 |
31.03.2002 |
|
Sales Turnover [including other income] |
|
26.723 |
22.416 |
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Profit/(Loss)
Before Tax |
|
1.949 |
0.262 |
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Provision
for Taxation |
|
0.716 |
0.020 |
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Profit/(Loss)
After Tax |
|
1.233 |
0.242 |
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|
|
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Total
Expenditure |
|
24.774 |
22.153 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2003 |
31.03.2002 |
|
PAT / Total Income |
(%) |
|
4.61 |
1.07 |
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|
Net
Profit Margin (PBT/Sales) |
(%) |
|
7.29 |
1.16 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
22.35 |
3.49 |
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Return
on Investment (ROI) (PBT/Networth) |
|
|
0.62 |
0.11 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
|
1.72 |
2.63 |
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Current
Ratio (Current
Asset/Current Liability) |
|
|
1.11 |
1.31 |
LOCAL AGENCY
FURTHER INFORMATION
In the information age of today, the "Networks" are the backbone that empowers your organization's Information Technology and ensure that the right information is available at the right time, irrespective of where you are. The network computing environment, your servers, workstations and mission critical application environments are the vehicles that will deliver advanced services to your network and its users. This will only happen with proper planning, dedicated implementation expertise and backed up by quality support services.
When you look for a partner for advise, counsel and subject matter expertise, you need to seek an organization that recognizes the critical nature of these technologies and has relevant experience to guide you through a challenging architecture or implementation. This is where Precision Techserve can bring tremendous value through our expertise gained over the years and offer your organization the best architecture, design, engineering, deployment and maintenance services for network computing infrastructures.
Precision Techserve is a part of a Rupees 110 Crores IT group headquartered at Chennai. Started in the year 1998, Precision Techserve is dedicated to providing the highest levels of service and technical expertise in the net-centric computing infrastructure arena. At the core, Precision Techserve has a team of high caliber, certified professionals who have the requisite expertise in implementing and supporting enterprise IT infrastructure with a wide range of products and technology exposure. It is our constant endeavor to provide the technical solutions and support services that allow our clientele to focus on and maximize their core business objectives.
With majority of our technical team having some level of advanced technical certification from Microsoft, Novell, Linux, Cisco, Checkpoint, HP, Avaya, Krone, and others, we build, integrate and support network infrastructure with quality. Our preferred status with partners like Microsoft, Cisco, Nortel, Check Point, IBM, HP and others gives us priority support, and enhances the quality of the solutions we deliver.
Partner
v Cisco Systems
v Nortel Networks
v 3COM
v Extreme Networks
v Checkpoint
v Sonicwall
v Hewlett – Packard
v Computer Associates
v Tyco Electronics
v Avaya
v Krone Communications
v
Molex
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.45.01 |
|
UK
Pound |
1 |
Rs.84.91 |
|
Euro |
1 |
Rs.57.48 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|
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 |
|