MIRA
INFORM REPORT
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Report Date : |
24.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MIOT HOSPITALS LIMITED |
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Registered Office : |
4/112, Mount Poonamaliee Road, Manapakkam, Chennai-600089, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
14.02.1994 |
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Com. Reg. No.: |
18-26791 |
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CIN No.: [Company
Identification No.] |
U85110TN1994PLC026791 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEM01612C |
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Legal Form : |
Closely held Public Limited Liability Company |
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Line of Business : |
Subject is engaged in Hospital Activities. |
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 1120000 |
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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. 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 : |
4/112, Mount Poonamaliee Road, Manapakkam,
Chennai-600089, Tamilnadu, India |
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Tel. No.: |
91-44- 22492288/ 52002288 |
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Mobile No.: |
91-98410 02288 |
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Fax No.: |
91 44 22491188 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mrs. Mallika Mohandas |
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Designation : |
Whole time Director and Chairman |
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Address : |
15, River View Colony, Manapakkam, Chennai-600116, Tamilnadu |
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Date of Birth/Age : |
23.07.1944 |
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Date of Appointment : |
14.02.1994 |
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Name : |
Mr. P V A Mohandas |
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Designation : |
Managing Director |
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Address : |
5, Rutland Gate, 2nd Street, Chennai-600006, Tamilnadu |
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Date of Birth/Age : |
18.07.1934 |
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Date of Appointment : |
14.04.1994 |
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Name : |
Dr. B Sivanth Adityan |
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Designation : |
Director |
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Address : |
46, EVK Sampath Road, Vapery, Chennai-600007, Tamilnadu |
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Date of Birth/Age : |
24.09.1936 |
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Date of Appointment : |
12.12.1994 |
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Name : |
Prof. Dr. Siegfried Weller |
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Designation : |
Director |
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Address : |
47, Engelfried Shalde, Chennai-600006, Tamilnadu |
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Date of Birth/Age : |
28.07.1944 |
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Date of Appointment : |
26.12.1994 |
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Name : |
Mr. Ulrich Holz |
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Designation : |
Director |
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Address : |
Dok Carlos STR 23, D-70563, Stuttgart, Germany |
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Date of Birth/Age : |
26.10.1940 |
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Date of Appointment : |
26.12.1994 |
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Name : |
Mr. Klaus Hug |
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Designation : |
Director |
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Address : |
79110, Frelgburg Merzhauser STR 110, Germany |
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Date of Birth/Age : |
13.09.1950 |
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Date of Appointment : |
26.12.1994 |
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Name : |
Dr. Joseph E Devadoss |
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Designation : |
Director |
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Address : |
7, Seaward Drive, Sevema Park, MD 21146, USA |
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Date of Birth/Age : |
05.05.1950 |
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Date of Appointment : |
26.03.1996 |
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Name : |
Dr. D B Manohar |
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Designation : |
Director |
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Address : |
405, Crown Street, Chennai-600006, Tamilnadu |
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Date of Birth/Age : |
24.07.1948 |
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Date of Appointment : |
02.01.1995 |
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Name : |
Mr. Ruediger Hausherr |
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Designation : |
Director |
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Address : |
79110, Frelgburg Merzhauser STR 110, Germany |
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Date of Birth/Age : |
12.02.1960 |
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Date of Appointment : |
09.09.1996 |
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Name : |
Mr. John G Masilamani |
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Designation : |
Director |
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Address : |
7, 2nd Criss Street, Kilpauk, Chennai-600010, Tamilnadu |
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Date of Birth/Age : |
11.07.1931 |
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Date of Appointment : |
06.08.2001 |
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Name : |
Mr. K Krishnaswamy |
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Designation : |
Director |
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Address : |
11, Brindavan Apartments, KNK Road, Chennai-600006, Tamilnadu |
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Date of Birth/Age : |
08.04.1935 |
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Date of Appointment : |
01.03.1999 |
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Date of Ceasing : |
01.03.1999 |
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Name : |
Ms. Sharmila Mohandas |
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Designation : |
Director |
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Address : |
5, Rutland Gate, 2nd Street, Chennai-600006, Tamilnadu |
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Date of Birth/Age : |
03.03.1967 |
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Date of Appointment : |
30.09.2004 |
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Name : |
Mr. V J Chacko |
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Designation : |
Director |
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Address : |
10, Waterworks Avenue, Kilpauk, Chennai-600010, Tamilnadu |
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Date of Birth/Age : |
02.11.1926 |
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Date of Appointment : |
01.03.1999 |
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Date of Ceasing : |
30.04.2001 |
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Name : |
Dr. Barry D Rasario |
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Designation : |
Director |
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Name : |
Mr. Arulanandam Mohandas |
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Designation : |
Managing Director |
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Address : |
15, River View Colony, Manapakkam, Chennai-600116, Tamilnadu |
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Date of Birth/Age : |
18.06.1934 |
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Date of Ceasing : |
14.02.1994 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. P V A Mohandas |
65000 |
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Mrs. Mallika Mohandas |
60000 |
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Ms. Trenz Omana Anna |
17700 |
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Prof. P V A Mohandas |
362894 |
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Mrs. Mallika Mohandas |
100498 |
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Dr. Radhika Mohandas |
84788 |
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Dr. Prithvi Mohandas |
63786 |
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Dr. Nirupa Mohandas |
107054 |
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Ms. Sharmila Mohandas |
71478 |
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Mrs. E C David |
29249 |
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Mr. Arun J Masilamani |
13616 |
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Ms. Samyuktha Masilamani |
880 |
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Ms. Sitara Masilamani |
770 |
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Prof. P V A Mohandas |
175000 |
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Mrs. Mallika Mohandas |
80000 |
As on 31.03.2006
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Names of Shareholders |
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Percentage of
Holding |
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Foreign holdings |
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30.67 |
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Bodies Corporate |
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1.06 |
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Directors or relatives of directors |
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63.27 |
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Others |
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5.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Hospital Activities. |
GENERAL
INFORMATION
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No. of Employees : |
Around 900 |
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Bankers : |
v State Bank of
Mysore v The Dhanalakshmi
Bank Limited v GE Capital
Services India, AIFCS Building, 1st Floor, 4, Rafi Marg, New
Delhi-110001 v HDFC
Bank Limited, Mariam Centre, First Floor, 751-B, Anna Salai, Chennai-600002, Tamilnadu |
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Facilities : |
Secured Loans as
on 31.03.2005 :
Note : Secured Loans Loan from Banks : Term loan of Rs.46.576 millions (Previous year Rs.67.073 millions) due
to State Bank of Mysore is secured by Land and Building, leasehold rights of
the fixed assets sych as Plant and Machinery leased out by Managing Director
and collaterally secured by equitable mortgage of company’s immovable
properties. Corporate loan of Rs.11.724 millions (Previous year Rs.20.939
millions) due to State Bank of Mysore is secured by Land and Building at
No.5, Rutland Gate, Chennai-600006 held in the name of the Chairman and Whole
time Director. Term loan of Rs.11.289 millions from The Dhanalashmi Bank Limited
availed during the year is secured on the entire gross block of the company,
the aforesaid charge rank pari passu with charge created in favour of State
Bank of Mysore towards term loan. The above loans are also secured by personal guarantee of Managing
director and Chairman and Whole time Director of the company. Loans from
Financial Institutions : Term loans from GE Capital Services India Limited of Rs.36.523
millions (Previous year Rs.43.921 millions) is secured by the hypothecation
of Medical Equipment purchased during
the year 2002-03 and personal guarantees of the managing Director and
Chairman and Whole time Director. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G Narayanaswamy Chartered Accountants Address : No.214, TTK Road, Alwarpet, Chennai-600018, Tamilnadu S Venkatram & Company Chartered Accountants Address : Chennai-600018, Tamilnadu |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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18000000 |
Equity Shares |
Rs.10/- each |
Rs.180.000 millions |
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200000 |
Preference Shares |
Rs.100/- each |
Rs.20.000 millions |
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Total |
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Rs.200.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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16150024 |
Equity Shares |
Rs.10/- each |
Rs.161.500
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
156.758 |
137.427 |
123.000 |
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2] Share Application Money |
3.349 |
3.271 |
0.000 |
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3] Reserves & Surplus |
120.145 |
80.401 |
50.400 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
280.252 |
221.099 |
173.400 |
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LOAN FUNDS |
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1] Secured Loans |
153.422 |
107.433 |
148.600 |
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2] Unsecured Loans |
42.015 |
0.000 |
0.100 |
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TOTAL BORROWING |
195.437 |
107.433 |
148.700 |
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DEFERRED TAX LIABILITIES |
65.486 |
57.620 |
0.000 |
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TOTAL |
541.175 |
386.152 |
322.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
613.129 |
405.666 |
403.200 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.761
|
1.107 |
1.700 |
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Sundry Debtors |
38.169
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37.907 |
35.500 |
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Cash & Bank Balances |
4.745
|
2.676 |
13.600 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
50.102
|
32.818 |
18.600 |
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Total
Current Assets |
95.777
|
74.508 |
69.400 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
115.238
|
64.732 |
129.200 |
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Provisions |
52.493
|
35.249 |
21.900 |
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Total
Current Liabilities |
167.731
|
99.981 |
151.100 |
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Net Current Assets |
(71.954)
|
(25.473) |
(81.700) |
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MISCELLANEOUS EXPENSES |
0.000 |
5.959 |
0.600 |
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TOTAL |
541.175 |
386.152 |
322.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
461.105 |
370.354 |
313.000 |
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Other Income |
1.239 |
1.321 |
0.900 |
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Total Income |
462.344 |
371.675 |
313.900 |
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Profit/(Loss) Before Tax |
86.033 |
60.258 |
52.900 |
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Provision for Taxation |
0.000 |
0.000 |
37.300 |
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Profit/(Loss) After Tax |
86.033 |
60.258 |
15.600 |
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Total Earnings |
NA |
42.433 |
34.172 |
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Imports : |
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Capital Goods |
NA |
11.922 |
36.399 |
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Others |
NA |
2.961 |
0.000 |
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Total Imports |
NA |
14.883 |
36.399 |
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Expenditures : |
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Manufacturing Expenses |
NA |
NA |
152.600 |
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Administrative Expenses |
NA |
NA |
1.400 |
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Purchases made for re-sale |
132.371 |
113.336 |
NA |
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Salaries, Wages, Bonus, etc. |
9.950 |
6.470 |
20.600 |
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Managerial Remuneration |
3.600 |
2.760 |
NA |
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Payment to Auditors |
0.491 |
0.327 |
NA |
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Interest |
8.166 |
14.530 |
21.200 |
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Power & Fuel |
18.543 |
17.671 |
13.200 |
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Depreciation & Amortization |
26.791 |
23.642 |
15.300 |
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Other Expenditure |
176.399 |
132.681 |
36.700 |
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Total Expenditure |
376.311 |
311.417 |
261.000 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
18.61
|
16.21 |
4.97 |
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Net Profit Margin (PBT/Sales) |
(%) |
18.61
|
16.21 |
16.85 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
12.13
|
12.55 |
11.19 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.27 |
8.59 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.29
|
0.94 |
0.86 |
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Current Ratio (Current Asset/Current Liability) |
|
0.57
|
0.74 |
0.53 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 Particular for creation or modification of charges
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Corporation identity number or foreign company registrations number of the company |
U85110TN1994PLC026791 |
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Name of the company |
MIOT HOSPITALS LIMITED |
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Address |
4/112, Mount Poonamaliee Road, Manapakkam, Chennai-600089, Tamilnadu,
India |
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This Form is for |
Creation of charge |
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Type of Charges |
Movable property (not being pledge) |
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Particular of the charge holder |
GE Capital Services India AIFCS Building, 1st Floor, 4, Rafi Marg, New Delhi-110001 |
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Nature or description of the instrument creating charge |
Equipment master security and loan agreement dated 09.02.2007. |
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Date of the instrument creating charge |
09.02.2007 |
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Amount Secure by the charge |
Rs.90.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest 10.15% Terms of repayment 60 monthly installments of Rs.1.919 millions Margin 10% Extent and operation of the charge Collateral to loan for 5 years |
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Particulars of the Property charged |
GE Infinia Gamma Camera System, GE 1.5T MRI, GE Light Speed 64 VCT and US Scanner System MIOT HOSPITALS LIMITED 4/112, Mount Poonamaliee Road, Manapakkam, Chennai-600089, Tamilnadu, India |
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Name of the company |
MIOT HOSPITALS LIMITED |
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Presented By |
Mrs. Malllika Mohandas,
Director |
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1) Date and description of instrument creating the change |
Memorandum relating to hypothecation of machinery Deed of hypothecation Both documents dated 30.06.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.50.000 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 |
Hypothecation by way of first pari passu charge with other banks on all movable plant and machinery both present and future consisting of, being movable properties now stored at or being stored or which may hereafter be brought into or stored at or at present installed at Company’s units and also the plant and machinery, which may at any time hereafter belonging to me/us or at my/our disposal and now or at any time and from time to time hereafter stored or be stored or brought into or upon or in course of Transit or awaiting transit ny any mode of transport to my/our factory or premises or at any other place whatsoever and whosesoever in may/our possession of occupation or at any other premises or place. Hypothecation by way of first exclusive charge on receivables as per deed of hypothecation agreement dated 30.06.2005. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Term loan : Rs.50.000 millions Rate of interest : Any such rates aas may be advised to the company from time to time for the respective facilities. Margin of security : As may be prescribed by the banks from time to time for the respective facilities. |
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5) Name and Address and description of the person entitled to the charge. |
HDFC Bank Limited Mariam Centre, First Floor, 751-B, Anna Salai, Chennai-600002, Tamilnadu |
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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 |
Company’s fixed assets include Land, Buildings, Medical and Surgical
Equipments, Electrical Equipments, Air-conditioning Plant and Air conditioners,
Fire fighting and Public Address System, Elevators, Kitchen Equipments, Office
Equipments, Furniture and Fittings, Computers, Vehicles, Water treatment plant
and Capital work in progress.
Website Details :
Profile
"Medicine is not a trade; it is a calling where the physician not
only thinks with his head but also with his heart." Prof. Dr. P.V.A.
Mohandas
Subject had its genesis as an independent wing of Vijaya Hospital, where
Padmashree Prof. Dr. P.V.A. Mohandas and his team performed many a surgical
impossibility in the field of Orthopaedics. Subsequently, his international
travel exposed him to the highly impressive standards of hygiene and competence
of medical services in the West He grew obsessed with an overpowering desire to
provide similar standards of professional health care in India. He left no
stone unturned, no expense spared until in February 1999 MIOT opened its doors
to the public. Thus, the seed of desire sown with dedication and nurtured with
concerted effort, sprouted and now stands before us as the imposing structure
of MIOT - the virtual brainchild of Dr. Mohandas.
Subject became a corporate body in early 1994 in tune with the evolving
hospital culture overseas. This multi-crore, super-speciality hospital,
nationally and internationally acclaimed for its professional standards, has
collaborators in Australia, Germany and USA. The Hospital taps the advantage of
this collaboration by sending its Doctors and Nurses to Germany periodically as
part of its upgradation programme.
What meets the physical eye is the stately concrete masterpiece of functional,
modern architecture standing in a sprawling 22 acre site, but what accosts the
mind's eye is the world that lies within the surge of emotions that it houses concern, care and compassion that seek
to wipe away the pain, anxiety and helplessness of the ailing in an endeavour
to usher in smiles. The power of the emotions housed within has transformed a
concrete structure into a Noble Messiah of the Medical Profession. Subject has
drawn a list of celebrities from Presidents of India and Chief Ministers of
several States to popular film stars and Diplomats from Germany, U.S.A., Gulf,
U.K., Sri Lanka, Bangladesh, Dubai and the Maldives.
Founder
The passionate involvement of the renowned Orthopaedician, Padmashree
Prof. Dr. P.V.A. Mohandas in his profession and his undeterred vision saw him
accomplish his mission, viz. the translation of his dreams into reality. Backed
by 30 years of experience in Joint Replacement surgery and 40 years of
professionalism in the field of Orthopaedic Medicare in India and Europe, Dr.
Mohandas has ceaselessly endeavoured to make Subject the only truly Global
Hospital with world class standard in India in the field of Joint Replacement
surgery, Orthopaedics and Trauma Medicare.
Dr. Mohandas, a name that needs no introduction in the field of Medicine and
Surgery in India, is considered as the father of modern orthopaedic surgery in
India. He brought into India the new AO concept of fracture fixation and Joint
Replacement surgery. His tenure as Professor of Orthopaedics at Kilpauk Medical
College and Government Royapettah Hospital earned him the fond appreciation as
'Teacher of Teachers' and 'Professor of Professors'. Dr. Mohandas
was conferred the 'Padmashree' award in 1992. The MGR Medical University,
Chennai awarded him the title of 'Doctor of Science'. He also received a German
Fellowship in 1994 from the German Society of Fracture Management, a unique and
singular honour.
Specialties
Orthopaedics & Accident Trauma
Management
Joint Replacement Surgeries
Spinal Surgeries
Microvascular & Plastic Surgeries
Maxillo Facial Surgeries
Kidney Transplantation
Chest injury management
Head & Brain injury management
Visceral Trauma injury management
Pelvic injury management
Skeletal injury management
Hand injury management
Re-implantation of fingers, toes & limbs
Total Hip Replacement Surgery
Total Knee Replacement Surgery
Spinal Surgeries
Shoulder & Elbow Surgery
Re-implantation Surgery of fingers, toes & limbs
Kidney Transplantation
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.41.07 |
|
UK Pound |
1 |
Rs.81.69 |
|
Euro |
1 |
Rs.55.84 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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 |
|