MIRA
INFORM REPORT
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Report Date : |
14.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
CRP INDIA PRIVATE
LIMITED |
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Registered Office : |
Plot No.79, SIDCO
Industrial Estate, Thirumudivakkam, Chennai-600044, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.07.1976 |
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Com. Reg. No.: |
18-7174 |
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CIN No.: [Company
Identification No.] |
U25199TN1976PTC007174 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEC00954C |
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PAN No.: [Permanent
Account No.] |
AAACC1347F |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Casting of Iron
and Steel Aluminium
Pressure Die Castings |
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 450000 |
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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 and reputed company having satisfactory track records. 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 normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Plot No.79, SIDCO
Industrial Estate, Thirumudivakkam, Chennai-600044, Tamilnadu, India |
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Tel. No.: |
91-44-22341102 /
24783408 |
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Mobile No.: |
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Fax No.: |
91-44-22340727 /
24783408 |
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E-Mail : |
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Head Office : |
14-A, SP Industrial
Estate, Guindy, Chennai-600042, Tamilnadu, India |
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Tel. No.: |
91-44-22340727/
22341102 |
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Fax No.: |
91-44-22340727 |
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E-Mail : |
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Factory 1 : |
AC 14B, SIDCO Industrial
Estate, Chennai-600044, Tamilnadu, India |
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Tel. No.: |
91-44-24782500/24782501 |
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Fax No.: |
91-44-24782503 |
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Factory 2 : |
B 55, SIPCOT
Industrial Estate, Gummidipoondi, India |
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Tel. No.: |
91-44-27922855 |
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Fax No.: |
91-44-27922890 |
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Factory 3: |
Plot No.79, SIDCO
Industrial Estate, Thirumudivakkam, Chennai-600044, Tamilnadu, India |
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Tel. No.: |
91-44-65389191/91 |
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Branches : |
The Southern Tools Services No :14A(SP) Industrial Estate, Guindy, Chennai– 600 032, India Southern Electronics Components Private Ltd No: 101, Developed Plot Estate, Perungudi, Chennai - 600
096, India. |
DIRECTORS
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Name : |
Mr. N.
Kunchithapatham |
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Designation : |
Managing Director |
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Address : |
B 229, 15th
Avenue, Ashok Nagar, Chennai-600083, Tamilnadu |
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Date of Birth/Age : |
30.01.1947 |
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Date of Appointment : |
03.11.1984 |
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Name : |
Mr. K. Anbuvalli |
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Designation : |
Director |
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Address : |
B 229, 15th
Avenue, Ashok Nagar, Chennai-600083, Tamilnadu |
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Date of Birth/Age : |
02.09.1950 |
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Date of Appointment : |
05.06.1984 |
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Name : |
Mr. Srilakshmi |
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Designation : |
Director |
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Address : |
Old No.153, New No.95,
Defence Officers Colony, Ekkaduthangal, Chennai-600097, Tamilnadu |
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Date of Birth/Age : |
16.05.1973 |
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Date of Appointment : |
01.12.1992 |
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Name : |
Mr. Adiyapatham
Pari |
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Designation : |
Director |
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Address : |
H 21D, 8th
Avenue, Manthope Colony, Ashok Nagar, Chennai-600083, Tamilnadu |
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Name : |
Mr. Chithapatham |
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Designation : |
Director |
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Address : |
B-229, 15th
Avenue, Ashok Nagar, Chennai-600083, Tamilnadu |
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Date of Appointment : |
26.06.2005 |
KEY EXECUTIVES
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Name : |
Mr. Kunja Bihari
Pradhan |
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Designation : |
Company Secretary |
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Address : |
AT/P O Buguda,
Ganjam District, Buguda-761118, Orissa, India |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. N.
Kunchithapatham |
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8546 |
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Mr. Srilakshmi |
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104 |
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Mr. K. Anbuvalli |
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8220 |
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Mr. A. Pari |
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119 |
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Mr. Kumar
Chandrashekar |
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200 |
BUSINESS DETAILS
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Line of Business : |
Casting of Iron
and Steel Aluminium
Pressure Die Castings |
GENERAL
INFORMATION
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Bankers : |
Ø
Canara Bank,
Teynampet Branch, Anna Salai, Chennai-600018, Tamilnadu, India Ø The Tamilnadu Industrial Investment Corporation
Limited, No.692, Nandanam, Chennai-600035, Tamilnadu, India Ø Standard
Chartered Bank Ø State Bank Of
India Ø ICICI Bank Ø HSBC Ø HDFC |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. M. R. Gowri
Shankar Chartered
Accountants |
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Address : |
Kamakoti, 3, 80th
Street, Ashok Nagar, Chennai-600083, Tamilnadu, India |
CAPITAL STRUCTURE
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
108500 |
Equity Shares |
Rs.1000/- each |
Rs.108.500 millions |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
58085 |
Equity Shares |
Rs.1000/- each |
Rs.58.085 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
57.886 |
11.546 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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55.854 |
55.372 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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113.740 |
66.918 |
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LOAN FUNDS |
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1] Secured Loans |
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175.312 |
99.112 |
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2] Unsecured Loans |
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0.288 |
0.000 |
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TOTAL BORROWING |
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175.600 |
99.112 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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289.340 |
166.030 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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242.209 |
136.537 |
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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 |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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20.123 |
9.658 |
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Sundry Debtors |
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44.349 |
25.850 |
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Cash & Bank Balances |
|
0.988 |
0.520 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
26.297 |
11.527 |
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Total
Current Assets |
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91.757 |
47.555 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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45.510 |
19.388 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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45.510 |
19.388 |
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Net Current Assets |
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46.247 |
28.167 |
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MISCELLANEOUS EXPENSES |
|
0.884 |
1.326 |
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TOTAL |
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289.340 |
166.030 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
|
31.03.2006 |
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Sales Turnover |
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|
311.197 |
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Total Income |
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311.197 |
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Profit/(Loss) Before Tax |
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|
13.173 |
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Provision for Taxation |
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|
0.000 |
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Profit/(Loss) After Tax |
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|
13.173 |
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Expenditures : |
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Total Expenditure |
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298.024 |
KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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4.23 |
N.A. |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.23 |
N.A. |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.94 |
N.A. |
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Return on Investment (ROI) (PBT/Networth) |
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0.11 |
N.A. |
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Debt Equity Ratio (Total Liability/Networth) |
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|
0.40 |
0.28 |
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Current Ratio (Current Asset/Current Liability) |
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|
2.01 |
2.45 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Name of the company |
CRP (INDIA)
PRIVATE LIMITED |
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Presented By |
Mr. Thiru R. Narayanan,
Branch Manager, TIIC Limited |
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1) Date and description of instrument creating the change |
Deed of agreement by deposit of Title deeds by the company on 23.01.2006 in favour of the Tamilnadu Industrial Investment Corporation Limited for its 10th Term Loan of Rs.23.000 millions with the Tamilnadu Industrial Investment Corporation Limited Mortgage by deposit of title deeds by the company on 23.01.2006 in favour of the company for Tamilnadu Industrial Investment Corporation Limited for its 10th Term Loan of Rs.23.000 millions with the Tamilnadu Industrial Investment Corporation Limited. No instrument executed. Unattested hypothecation dated 23.01.2006 for its 10th term loan of Rs.23.000 millions engrossed on Rs.20/- non judicial stamp paper (both 1, 2 and 3 relate to same charge) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.23.000 millions |
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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 |
All the land and premises present and future situated at B-55, Sipcot Industrial Estate, Gummidipoondi-601201 S.F. No.860/2A1, S.F.No.:860/4A, S.F. No.:860/6A, At Munduvelampatti Village, Dharamapuram Taluk, Erode District. All and singular the plant and machinery erected or to be erected on the above land s at 1(a) and 1(b) and at Plot No.79, SIDCO Industrial Estate, Thirumudivakkam, Chennai-44 and AC 14B, SIDCO Industrial Estate, S. No.: 350/1B, Thirumudivakkam, Chennai-44 Floating charge on all the remaining movable assets of the company including book debts subject to prior charges of the company’s bankers for working finance requirement. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Hypothecation for Rs.23.000 millions. The sum of Rs.23.000 millions is repayable in 28 Quarterly instalments of Rs.0.75 millions each and Next 10 Quarterly instalments of Rs.0.85 millions each and Last 8 Quarterly instalments of Rs.0.875 millions each. The first instalment of Principal will begin immediately after 12 months from the date of first disbursement and will fall due on 1st January/ 1st April/ 1st July/ 1st October as will be applicable the due date of quarterly interest and the subsequent instalments of principal become due at the beginning of the quarter, interest and instalment of principal will become due at the beginning of the Quarter. The rate of interest for the term loan will be 10.5% p.a. under the Industrial Development Bank of India. Small Industrial Development Bank of India rate for refinance scheme. However in case of default an additional interest of 2.5% p.a. will be charged on the defaulted amount for defaulted period. No credit interest will be paid for the amount of principal or interest paid earlier except in those cases where the losses have been fully repaid or the full payment of instalment of principal or interest is made more than 60 days before the3 due date. The interest is payable in quarterly rests for the period ending 28th, 29th February/31st May/31st August/30th November as will be applicable taking into consideration the date of first disbursement. |
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5) Name and Address and description of the person entitled to the charge. |
The Tamilnadu Industrial Investment Corporation Limited, SIDCO Projedct Building, Thiru VLK’s Industrial Estate, Guindy, Chennai-32 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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Name of the company |
CRP (INDIA)
PRIVATE LIMITED |
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Presented By |
Mr. Thiru R. Narayanan, Branch
Manager, TIIC Limited |
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1) Date and description of instrument creating the change |
Mortgage by deposit of title deeds by the company on 10.11.2005 in favour of the company for Tamilnadu Industrial Investment Corporation Limited for its Open Term Loan of Rs.5.000 millions with the Tamilnadu Industrial Investment Corporation Limited. No instrument executed. Unattested hypothecation dated 10.11.2005 for its Open term loan of Rs.5.000 millions engrossed on Rs.20/- non judicial stamp paper (both 1, 2 relate to same charge) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.000 millions |
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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 |
All the land and premises present and future situated at B-55, Sipcot Industrial Estate, Gummidipoondi-601201 S.F. No.860/2A1, S.F.No.:860/4A, S.F. No.:860/6A, At Munduvelampatti Village, Dharamapuram Taluk, Erode District. All and singular the plant and machinery erected or to be erected on the above land s at 4/129, Mount Poonamllee Road, Manapakkam, Chennai-600089 AC 14B, SIDCO Industrial Estate, S. No.: 350/1B, Thirumudivakkam, Chennai-44 Floating charge on all the remaining movable assets of the company including book debts subject to prior charges of the company’s bankers for working finance requirement. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Hypothecation for Rs.5.000 millions. The sum of Rs.5.000 millions is repayable in 16 Quarterly instalments. The first five instalments of Rs.0.28 millions each and Next 9 instalments of Rs.0.325 millions each and Last 2 instalments of Rs.0.337 millions each. The first instalment of Principal will begin immediately after 12 months from the date of first disbursement and will fall due on 1st January/ 1st April/ 1st July/ 1st October as will be applicable the due date of quarterly interest and the subsequent instalments of principal become due at the beginning of the quarter, interest and instalment of principal will become due at the beginning of the Quarter. The rate of interest for the term loan will be 10.5% p.a. under the Industrial Development Bank of India. Small Industrial Development Bank of India rate for refinance scheme. However in case of default an additional interest of 2.5% p.a. will be charged on the defaulted amount for defaulted period. No credit interest will be paid for the amount of principal or interest paid earlier except in those cases where the losses have been fully repaid or the full payment of instalment of principal or interest is made more than 60 days before the3 due date. The interest is payable in quarterly rests for the period ending 28th, 29th February/31st May/31st August/30th November as will be applicable taking into consideration the date of first disbursement. |
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5) Name and Address and description of the person entitled to the charge. |
The Tamilnadu Industrial Investment Corporation Limited, SIDCO Projedct Building, Thiru VLK’s Industrial Estate, Guindy, Chennai-32 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
Website Details :
Subject is a
company that has carved a niche for itself in the High Pressure Die casting industry
as a one stop source for aluminum castings. From concept to completion, CRP has
the capability to provide total solutions. Tool designing, tool making,
pressure die casting, surface finishing, finish machining and assemblies.
Subject meets the complete requirements, under one roof. CRP caters to low and
high volume product requirements for aluminum castings from 10 gms to over 10
kgs.
Subject was established in 1987 with a vision to cater to the requirements of
High Pressure Die Casting industry. It's parent company, The Southern Tools
Services was set up in 1975 as a commercial Tool Room to meet the demands of
the Pressure Die Casting Tools market. They diversified into High Pressure Die
Casting Products in 1980.
Ø
Crank Case
Doors
Ø
Housing Oil
Seals
Ø
Case
Distributors
Ø
Thermostat
Cases
Ø
Levers
Ø
Rocker Arms
Ø
Fly Wheel
Magnetos
Ø
Regulator /
Rectifier Units
Ø
Ignition Coils
Ø
Distributors
Ø
Oil Pumps
Ø
Water Pumps
Ø
Fuel Pumps
Ø
Case
Speedometers
Auto
Component
Ø
Starters
Ø
Alternators
Ø
Dynamos
Ø
Ignition Coils
Ø
Small Motors
Ø
Wipers
Ø
Fog Lamps
Ø
Head Lamps
Ø
Filter Heads
Ø
Filter Bowls
Ø
Governor
Covers
Ø
Fuel Rails
Ø
Carburetors
Turbo Chargers and Other Applications
Ø
Turbo Chargers
Ø
Brakes
Ø
Power Steering
Systems
Ø
Seat Belts
PRESSURE DIE
CASTING - The Modern Workhouse
Subject uses CNC Pressure Die Casting Machines capable of performing fully automatic
operations viz., Auto laddle, Auto spray, Auto Park pick-up and other Auto
Component. This ensures optimum output with consistent quality. Temperature
controlled electric furnaces ensure efficient melting and holding while
centralized melting takes care of porosity and defect-free castings.
Heat treatment of some aluminum castings are done to improve their hardness and
strength. The process of heat treatment develops more uniform structure
throughout the casting, removes internal stresses and improves both dimensional
stability and mechanical properties like elongation and ductility. The Time and
the Temperature are the critical factors in the Heat Treatment as they
determine the property of the casting.
In-roof facilities are available for Tumblast and Hanger type shot blasting
operations and vibratory deburring operations as per the customer requirements.
CNC Machining
As a single stop solution provider for aluminum components, Subject has a fully
integrated machine shop comprising of CNC machining centres and CNC turning
Centres. Turning, milling, thread cutting, drilling, tapping are just few of
the operations Subject performs in house on casting to ensure machining
Integrity.
The in-house machine shop operation has reduced overall lead time needed to
complete the order and has enabled us to give better value to their customers.
SPC programs are used with both standard and specialized gauges viz., air plug
gauges to perform first-off inspection and continuously monitor critical
dimensions on machined parts.
INTEGRATED TOOL
ROOM - Sophistication in Tool Manufacturing
Design and
Engineering
Subject's Tool Room is combination of the best of human effort and machine
working together to achieve excellence. Once ideas, sample parts, CAD files or
drawing are received from the customers, their Tool Room expert interacting
closely with the customers, consider all aspects of design and production in
order to improve feasibility optimize manufacturing and achieve cost-
competitiveness.
CAD/CAM
The Tool Room is equipped with the most modern CAD / CAM Software- complete
DELCAM range of products including Power Exchange, Power Shape, Power Mill,
Power Inspect, Copy CAD and Art Cam. Solid Works and pro Engineer Wild Fire are
used to generate complex 3D models and designs. With the software and technical
capabilities, Subject initiates early involvement in the improvement of product
designs, evaluations and analysis.
Subject is capable of translating and using any type of CAD data viz., Catia,
Unigraphics, Ideas, Cimetron, Solid Edge, IGES, STEP, DXF etc. The product
design of the customer can thus be fully integrated with the design activities
of the Tool Room.
Tool
Manufacturing
The Tool Room is equipped with the latest machinery for accurate and swift
manufacturing. These include DECKEL range of CNC machines, Reis spotting press,
TOS horizontal boring machine, WMW rotary grinder and ZNC EDMS. Mitutoyo CMM,
Carl Zeiss programmable digital height gauges conduct precise quality checks,
performing validation and quality control of the pressure die casting moulds
and machining fixtures. Vacuum Hardening Process for distortion free, precise
and homogeneous heat treatment of the inserts and the cast steel for the high
impact strength of the housing; ensure a long working life for the molds.
Supplier
Development:
Operations such as anodizing, painting, polishing, plating etc., are carried
out through the best suppliers. Subject takes total responsibility for
providing parts ready for assembly or even complete assembled parts.
Assembly:
Assembly shop caters to the assembled products as per customer requirements and
it is also equipped with a Power Coating Plant along with pre - Treatment
facilities.
Merger:
During the year , the company decided to go in for amalgamation proposal
with M/S Southern Electronic Components Private Limited , Chennai , a company
under the dame management for better internal control administration and also
to boost the profitability of both the companies . The Proposal was
submitted to the Hon’ble High Court of Chennai and the High Court Passed
favourable orders ordering amalgatiom from 01/10/2005. The figures of the
Balance Sheet & Profit & Loss A/C of the company include the working of
the amalgamated Company , M/S Southern Electronic Components Private Limited
form 01/10/2005 to 31 / 03/2006 .
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.42.74 |
|
UK Pound |
1 |
Rs.84.90 |
|
Euro |
1 |
Rs.57.79 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
|