MIRA
INFORM REPORT
|
Report Date : |
20.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
NAVBHARAT
ARCHIVE XPRESS PRIVATE LIMITED |
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Registered Office : |
Navbharat
Potteries Building, Sewri West, Mumbai – 400015, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
13.10.1992 |
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Com. Reg. No.: |
11-68988 |
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CIN No.: [Company
Identification No.] |
U51900MH1992PTC068988 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN04526E |
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PAN No.: [Permanent
Account No.] |
AAACN1379A |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Subject
is a Records and Information Management Company. |
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 : |
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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 small company having satisfactory track records. Trade relations are fair. 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 : |
Navbharat
Potteries Building, Sewri West, Mumbai – 400015, Maharashtra, India |
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Tel. No.: |
91-22-24131818 |
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E-Mail : |
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Website : |
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Head
Office : |
Navbharat Estate, "A" Wing, 5th Floor, Zakaria Bunder Road, Sewri (West), Mumbai - 400 015, Maharashtra, India |
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Tel.
No.: |
91-22-24150000 |
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Fax
No.: |
91-22-24153232 |
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Mobile
: |
91-9820337376 (Contact : Ms. Smita) |
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E-Mail
: |
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Branches
: |
Plot
No 2 & 3, Alapakkam Main Road, Alapakkam, Porur, Chennai – 600016,
Tamilnadu, India Mobile : 91-9384750000 Email
B -
34, Sector 60, Noida – 201301, Uttar Pradesh Mobile : 91-9313450000 Phone Email
New Survey
No - 1, Hissa No 4B/2/11, Gala No - 1, Yewelewad , Pune -411048 Mobile : 91-9325305000 (Contact : Ms. Jyoti Chowdhary) Tel. Fax Email |
: 
: 91-120-2587000
: 
: 91-20-26934466
:
DIRECTORS
|
Name : |
Mr.
Vinesh Narandas Davda |
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Designation : |
Chairman
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Address : |
15
Altamount Road, 204, Prabhu Kutir, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
22.05.1955 |
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Date of Appointment : |
07.11.2001 |
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Election Identity Card No. : |
EP119-954 |
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Name : |
Mr.
Bharat Narandas Davda |
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Designation : |
Director
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Address : |
15
Altamount Road, 204, Prabhu Kutir, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
16.08.1959 |
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Date of Appointment : |
09.10.2001 |
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Election Identity Card No. : |
EP119-956 |
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Name : |
Ms.
Smita Vinesh Davda |
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Designation : |
Director
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Address : |
15
Altamount Road, 204, Prabhu Kutir, Mumbai – 400026, Maharashtra, India |
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Date of Birth/Age : |
06.03.1962 |
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Date of Appointment : |
02.11.2002 |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr.
Vinesh Narandas Davda |
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2700 |
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Ms.
Smita Vinesh Davda |
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1800 |
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Mr.
Bharat Narandas Davda |
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1260 |
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Vinesh
Narandas Davda [HUF] |
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450 |
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Bharat
Narandas Davda [HUF] |
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450 |
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Mr.
Narandas Nirmala Davda |
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540 |
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Ms.
Ashita Bharat Davda |
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360 |
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Mst.
Chaitanya Vinesh Davda |
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360 |
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Mst.
Ameya Vinesh Davda |
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360 |
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Mst.
Devak Bharat Davda |
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360 |
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Mst.
Anshul Bharat Davda |
|
360 |
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TOTAL |
|
9000 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is a Records and Information Management Company. |
GENERAL
INFORMATION
|
No. of Employees : |
15 |
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Bankers : |
Canara
Bank Parel,
Mumbai, Maharashtra, India |
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Banking Relations : |
-- |
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Auditors : |
Chag
Pahwa & Shah Chartered
Accountants, 404,
Bhagyalaxmi, Kennedy Bridge, Opera House, Mumbai – 400004, Maharashtra, India |
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Tel. No.: |
91-22-23873358 |
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 |
|
90000 |
Equity
Shares |
Rs. 10/- each |
Rs. 0.900 million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.900 |
0.900 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
[1.022] |
[1.536] |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
[0.122] |
[0.636] |
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LOAN FUNDS |
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1] Secured Loans |
|
0.684 |
0.000 |
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2] Unsecured Loans |
|
14.029 |
5.910 |
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TOTAL BORROWING |
|
14.713 |
5.910 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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14.591 |
5.274 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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10.350 |
5.218 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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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 |
|
0.082 |
0.024 |
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Sundry Debtors |
|
3.936 |
0.482 |
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Cash & Bank Balances |
|
1.255 |
1.768 |
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Other Current Assets |
|
0.922 |
0.000 |
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Loans & Advances |
|
1.441 |
0.659 |
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Total Current Assets |
|
7.636 |
2.933 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities & Provisions |
|
3.395 |
2.877 |
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Total Current Liabilities |
|
3.395 |
2.877 |
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Net Current Assets |
|
4.241 |
0.056 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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14.591 |
5.274 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
|
11.652 |
2.054 |
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Net
Profit / (Loss) |
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0.212 |
[0.850] |
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Export
Value |
|
0.047 |
N.A. |
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Total
Expenditure |
|
11.652 |
2.054 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
1.81 |
[41.38] |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
1.81 |
[41.38] |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
1.17 |
[10.42] |
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Return
on Investment (ROI) (PBT/Networth) |
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|
[1.73] |
1.33 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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|
[148.42] |
[13.81] |
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Current
Ratio (Current
Asset/Current Liability) |
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2.24 |
1.01 |
LOCAL AGENCY
FURTHER INFORMATION
During
the current year the company has made a Profit of Rs. 0.212 million [P.Y. less
Rs. 0.850 million] after providing depreciation of Rs. 0.491 million [P. Y. Rs.
0.238 million] company has made provision for taxation in the current year Rs. 0.020
million.
Fixed
Assets
Fax
Machine, Office Equipments, Furniture & Fixtures, Vehicles, Air
Conditioners and Computers
WEBSITE
DETAILS
NAX
DocuBank
As a
Records & Information Management Company, they have moved away from the
'Warehousing' mentality. They do more than just 'store' the records. That is
why they call ourselves a DOCUMENT BANK.
They
offer the safe, secure storage of documents and records without sacrificing
accurate and timely accessibility to the data whenever you need it.
NAX
Document Bank is a cost effective solution that helps you organize the files
and documents while maximizing the valuable office space for more productive
use. They help drive the revenues up and the costs down.
SERVICES
NAX is a full cycle service provider and offers solutions
that will take care of the records from creation, safe storage, retrieval to
beyond destruction.
Records
& Information Management Solutions
Customized Services
Storage
Solutions
Destruction
Services
Sensitive
& Media Storage
Web
Enabled Services
Scanning
& Imaging
NETWORK
In a
very short time, NAX will provide customers with a pan India footprint offering
its facilities in Mumbai, Delhi, Chennai, Pune, Bangalore, Hyderabad and
Kolkata.
In
Mumbai they have an enviable location as they are situated in Central Mumbai –
Sewri (West)– which is easily accessible to the main business centers. This
translates into faster access of documents when needed.
WHY NAX
Records being the lifeblood of any organization need to be
preserved with high level security and accessibility.
Client has Access to the latest technological tools for Records
Management
Better control over data
Simplification of administrative work and improved information
flows
Greater accountability
Economies of scale
Conveniently and centrally located
Industry’s Leading Records Management Software.
With a complete range of document management services, they add to
your bottom line by adding to your administrative efficiency and reducing waste
of valuable real estate.
Our RS –WEB service offers you the advantages of anytime anywhere
access to your documents – 24 X 7 X 365 days of the year.
They provide Free Site survey and assessment to understand your
record management requirements and offer you a No obligations solution.
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.44.75 |
|
UK
Pound |
1 |
Rs.85.14 |
|
Euro |
1 |
Rs.57.55 |
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 |
|