MIRA
INFORM REPORT
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Report Date : |
05.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ECOTREND POLYPLUS PRIVATE LIMITED |
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Registered Office : |
802, Dimple Heights, Asha Nagar, W. E. Highway, Kandivali [East],
Mumbai – 400101, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
30.05.2005 |
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Com. Reg. No.: |
153606 |
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CIN No.: [Company
Identification No.] |
U24139MH2005PTC153606 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUME06028B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers of Reprocessed Plastic Granules [PE Based]. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
USD 2000 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively
small company having satisfactory track. Directors are reported as
experienced and respectable businessmen. Trade relations are reported as
fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered for small business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
802, Dimple Heights, Asha Nagar, W. E. Highway, Kandivali [East],
Mumbai – 400101, Maharashtra, India |
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E-Mail : |
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Corporate Office : |
A 0001 Nirav 90 Feet Road, Off W. E. Highway, Kandivali [East], Mumbai
– 400101, Maharashtra, India |
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Tel. No.: |
91-22-28547705 |
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E-Mail : |
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Warehouse : |
47, 1st Floor, Bhartiya Shopping Complex Somnath Road,
Daman, Daman & Diu-396 210 (INDIA) |
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Tel. No.: |
91-260-3299866 |
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Fax No.: |
91-9377772243 / 9322853852 |
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Mobile No. : |
91-260-2240514 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Jwalin Bipinchandra Gandhi |
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Designation : |
802, Dimple Heights, Asha Nagar, W. E. Highway, Kandivali [East],
Mumbai – 400101, Maharashtra, India |
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Address : |
13.10.1975 |
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Date of Appointment : |
30.05.2005 |
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Name : |
Mr. Vijaykumar Shantilal Gandhi |
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Designation : |
Director |
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Address : |
201, Rimple, Asha Nagar, W. E. Highway, Kandivali [East], Mumbai –
400101, Maharashtra, India |
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Date of Birth/Age : |
28.07.1951 |
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Date of Appointment : |
30.05.2005 |
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Name : |
Mr. Siddik Pirmohammed Nathani |
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Designation : |
Director |
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Address : |
2/43, 8th Floor, Jai Tower, Imran Nagar, Silvassa Road,
Vapi – 396191, Gujarat, India |
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Date of Birth/Age : |
27.06.1960 |
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Date of Appointment : |
30.05.2005 |
SHAREHOLDING
PATTERN
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Names of Shareholders |
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Percentage of
Holding |
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Directors or Relatives of Directors |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Importers of Reprocessed Plastic Granules [PE Based]. |
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Products : |
· Plastic Reprocessed Granules (PE Based) · Recycled Plastic Granules · Loose Granules · Virgin PE Granules · Off Grade Granules · Wide Specs |
GENERAL
INFORMATION
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D. D. Jimulia and Company Chartered Accountants |
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Address : |
206, Avon Arcade, D. J. Road, Vile Parle [West], Mumbai – 400056,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.200 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.636 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.736 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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6.300 |
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TOTAL BORROWING |
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6.300 |
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DEFERRED TAX LIABILITIES |
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0.006 |
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TOTAL |
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7.042 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.445 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.118 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.421 |
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Sundry Debtors |
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2.496 |
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Cash & Bank Balances |
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0.789 |
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Other Current Assets |
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0.028 |
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Loans & Advances |
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1.449 |
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Total
Current Assets |
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8.183 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.181 |
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Provisions |
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0.534 |
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Total
Current Liabilities |
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1.715 |
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Net Current Assets |
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6.468 |
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MISCELLANEOUS EXPENSES |
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0.011 |
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TOTAL |
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7.042 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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10.89 |
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Current Ratio (Current Asset/Current Liability) |
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4.77 |
LOCAL AGENCY
FURTHER INFORMATION
Profile
A multi-faceted enterprise engaged in a vast spectrum of activities has
successfully redefined the paradigms of professional excellence by the virtue
of its synchronized and streamlined endeavors that define its areas of
expertise. They have grown and diversified into various directions, creating
opportunities unlimited.
They are capable of importing large volumes of products to satisfy their
clients' demands and specifications. They take utmost care to deliver the best
quality product at a very competitive price. Their prime objective is to win
the trust and confidence of the customers by supplying top quality products.
They also import all kinds of
Plastic Raw Material
Facilities
Their infrastructural set up
forms the backbone of their company. They possess a spacious warehouse, which
has the capacity to store large quantities of products. Their efficient
transportation facilities ensure smooth deliveries of products to their
clients. Their team of experts source the highest quality products from the
best manufacturers.
They stand on the edifice of
quality and reliability. They ensure that premium quality products are sourced
for the total satisfaction of their clients. In their company, emphasis is laid
on quality control at all levels, with a final check of all their products
prior to dispatch. This effectively assists us in meeting the high quality
standards required by their customers with on time delivery.
They have clinched a set of high
profile and satisfied clients who vouch for their quality products. The
overwhelming response of their clients has helped us to elevate their standard
of excellence.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.15 |
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UK Pound |
1 |
Rs.85.22 |
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Euro |
1 |
Rs.57.63 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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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 |
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29 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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