MIRA
INFORM REPORT
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Report Date : |
14.08.2007 |
IDENTIFICATION DETAILS
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Name : |
BANG OVERSEAS LIMITED |
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Registered Office : |
Masjid Manor, 2nd
Floor, 16, |
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Country : |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
01.06.1992 |
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Com. Reg. No.: |
11-67013 |
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CIN No.: [Company
Identification No.] |
U51900MH1992PTC067013 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB12486F |
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PAN No.: [Permanent
Account No.] |
AABCB2777M |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
The Company is engaged
in Manufacturing, Importing, Exporting and Trading of Fabrics, Yarns and
Readymade Garments. |
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 90000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Financial
position is satisfactory. 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
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Registered Office : |
Masjid Manor, 2nd
Floor, 16, |
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Tel. No.: |
91-22-22043496 /
22841422 |
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Fax No.: |
91-22-56607970 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. mtrs |
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Location : |
Owned |
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Factory 1 : |
Rajlaxmi
Commercial Complex, Unit No. 19, 20, 21, Mane Farm House, Opp. Durgesh Park, Kalher
Village, Bhiwandi - 421 302, District Thane, Maharashtra |
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Area : |
5654 sq.mtrs |
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Location : |
Rented |
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Branches : |
Unit No. 5,
Krishnanagar Industrial Area, |
DIRECTORS
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Name : |
Mr. Venugopal B. Bang |
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Designation : |
Director |
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Address : |
Bang Bhavan, 2nd
Floor, |
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Date of Birth/Age : |
02.06.1954 |
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Date of Appointment : |
01.06.1992 |
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Name : |
Mr. Brijgopal B.
Bang |
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Designation : |
Managing Director
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Address : |
9, |
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Date of Birth/Age : |
26.07.1967 |
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Date of Appointment : |
03.06.1992 |
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Name : |
Mr. Balaram Bang |
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Designation : |
Director |
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Address : |
122, Hindu
Colony, Lane No. 5, Sir, |
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Name : |
Mr. Mithilesh
Sinha |
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Designation : |
Director |
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Address : |
1604, Orchid, |
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Date of Birth/Age : |
02.09.1935 |
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Date of Appointment : |
12.03.2007 |
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Other Directorship: |
v
Prag
Bosimi Synthetics Limited v
Pasupati
Fabrics Limited v
Austral
Coke and Projects Limited v
Radaan
Media Works India Limited v
K
Sera Sera Productions Limited v
APL
Infotech Limited |
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Name : |
Mr. Vishwanath Cheruvu |
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Designation : |
Director |
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Address : |
1-3-176/4/C/15, Saraswati Nilayam, Gandhi Nagar, |
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Date of Birth/Age : |
01.05.1954 |
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Date of Appointment : |
12.03.2007 |
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Partnership Held: |
Cheruvu and Associates Address: 1-3-176/4/C/15, Saraswati
Nilayam, Gandhi Nagar, |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Bang Brijgopal |
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75000 |
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Bang Venugopal |
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175000 |
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Satnarayan Sarda
Jt. Ramkumar Sarda |
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5000 |
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Satnarayan Sarda |
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5000 |
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Ramkishore Sarda |
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10000 |
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Rangnath Bang |
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1000 |
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Laxminiwas Bang |
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1000 |
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Ramkumar Bang |
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1000 |
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Balaram Bang |
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1000 |
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Sampatkumar Bang |
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1000 |
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Krishnakumar Bang |
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500 |
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Parwatidevi Bang |
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500 |
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Kantadevi Bang |
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500 |
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Saraswatidevi
Bang |
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500 |
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Pushpadevi Bang |
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500 |
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Shobha Bang |
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500 |
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Taradevi Bang |
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500 |
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Radhadevi Bang |
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500 |
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Rekha Bang |
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500 |
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Ramanujdas Bang |
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500 |
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Narayndas Bang |
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500 |
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Girdhargopal Bang |
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500 |
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Rajgopal Bang |
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500 |
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TOTAL |
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281500 |
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Category |
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Percentage of
Holding |
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Directors or
relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is engaged
in Manufacturing, Importing, Exporting and Trading of Fabrics, Yarns and
Readymade Garments. |
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Products : |
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Imports from: |
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PRODUCTION STATUS
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Particulars |
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Unit |
Actual
Production |
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Readymade shirts
& trousers |
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Pcs |
56822 |
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Cotton shopping
bags |
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Pcs |
750750 |
GENERAL INFORMATION
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No. of Employees : |
110 |
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Bankers : |
+
The
Federal Bank Limited, 32, +
State
Bank of Mauritius Limited, 101, Raheja Centre, Free Press Journal Road,
Nariman Point, Mumbai - 400 021 Facility : Import L/C : Rs. 5.000 millions +
The
Nedungadi Bank Limited, 265, Birya
House, Bazar Gate Street, Fort, Mumbai - 400 001 Facilities : Cash
Credit : Rs. 5.000 millions Import
L/C :
Rs. 23.500 millions Cash
Credit : Rs. 4.106 millions +
Citibank,
Mumbai +
Saraswat
Co-operative Bank Limited, Mumbai +
A. P.
Mahesh Urban Co-operative Bank +
ING
Vysya Bank Limited, Mittal Tower, A Wing, Nariman Point, Mumbai – 400 021. |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajendra K. Gupta
& Associates Chartered Accountants |
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Address : |
C-29, Kshipra Society, Akurli X Road No.
1, Kandivli (East), Mumbai - 400 101. |
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Tel. No.: |
91-22-28871409 / 28874879 |
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Associates: |
+
Bang
Data Forms Private Limited - It is involved in producing all type of computer stationery, HDPE
woven sacks, etc. It has owned factory
at Solapur, +
Bodywave
Fashions Private Limited - Acts as traders and resellers of
all types of textile goods. |
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Subsidiaries : |
v
Prag
Bosimi Synthetics Limited CIN No.: U17124AS2006PTC002758 v
Pasupati
Fabrics Limited CIN No: U99999DL1991PLC046549 v
Austral
Coke and Projects Limited CIN No: L67120WB1994PLC063008 v
Radaan
Media Works India Limited CIN No: U92111TN1999PLC043163 v
K
Sera Sera Productions Limited CIN No: L21010MH1995PLC092438 v
APL
Infotech Limited CIN No: U99999MH2001PLC134291 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10.00 each |
Rs. 50.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
281500 |
Equity Shares |
Rs. 10.00 each |
Rs. 2.815 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.815 |
2.800 |
2.750 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
20.379 |
17.269 |
17.300 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
23.194 |
20.069 |
20.050 |
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LOAN FUNDS |
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1] Secured Loans |
8.629 |
8.278 |
4.105 |
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2] Unsecured Loans |
41.084 |
37.093 |
64.053 |
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TOTAL BORROWING |
49.713 |
45.371 |
68.158 |
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DEFERRED TAX LIABILITIES |
0.225 |
0.163 |
0.000 |
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TOTAL |
73.132 |
65.603 |
88.208 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.134 |
2.241 |
2.375 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.260 |
1.260 |
0.010 |
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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 |
47.848
|
44.471 |
62.810 |
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Sundry Debtors |
28.388
|
18.996 |
30.615 |
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Cash & Bank Balances |
4.174
|
3.338 |
5.105 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
11.136
|
6.368 |
7.341 |
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Total
Current Assets |
91.546
|
73.173 |
105.871 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
18.808
|
8.472 |
15.008 |
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Provisions |
4.000
|
2.599 |
5.040 |
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Total
Current Liabilities |
22.808
|
11.071 |
20.048 |
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Net Current Assets |
68.738
|
62.102 |
85.823 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
73.132 |
65.603 |
88.208 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
|
Sales Turnover [Including Other Income] |
127.302 |
98.103 |
103.441 |
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Profit/(Loss) Before Tax |
4.697 |
0.584 |
0.807 |
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Provision for Taxation |
1.661 |
0.245 |
0.300 |
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Profit/(Loss) After Tax |
3.036 |
0.339 |
0.507 |
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Export Value |
10.245 |
84.178 |
3.779 |
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Total Expenditure |
117.057 |
91.672 |
102.633 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
2.38
|
0.35 |
0.49 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.69
|
0.60 |
0.78 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.90
|
0.76 |
0.75 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.03 |
0.04 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.13
|
2.81 |
4.40 |
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Current Ratio (Current Asset/Current Liability) |
|
4.01
|
6.61 |
5.28 |
LOCAL AGENCY FURTHER INFORMATION
The company is in
trade terms with:
+
Cotonificio
Albini SPA,
+
Oltolina
SPA,
+
GE TE
CA, SPA,
+
Leggiuno
SPA,
+
M.F.B.,
SPA,
+
Consolidated
Fabrics Limited,
+
Socota
Textile Mills Limited,
+
Josef
Otten
+
Brennet
AG,
+
Emanuel
Lang Textiles,
+
Chatelard
+
Societe
+
Sidogras
+
Mas
Molas S.A.,
+
TMG -
Tecidos Para Vestuario,
+
Fabrics
Textiles De
+
Pantaloon
Retail (
+
Pantaloon
House, G-11, MIDC, Cross Road "A", Andheri (East), Mumbai
+
S.
Kumar's Nationwide Limited
"Avadh",
Avadhesh Parisar, Shree Ram Mills Premises, Worli, Mumbai - 400 018
+
Pandurang Budhkar Marg, Mumbai - 400 025
+
Swati
Chemco
114,
Gambhir Industrial Estate, C-Wing, Vishweswar Nagar, Goregaon (East), Mumbai
+
Styled
Apparels
+
Globus
Stores Private Limited
+
Kewal
Kiran & Company
B/101,
Synthofine Industrial Estate, Opp. Veerwani Industrial Estate, Goregaon (East),
Mumbai
+
Advin
Impex
Opp.
Vrundavan Shopping Centre, Nagori Pole Ratan Pole, Ahmedabad - 380 001,
+
Chandra
Textiles
504, Chandra Chowk, Kalbadevi, Mumbai - 400 002
+
Business
Inc.,
2/2, Madhuban Apartment, Pitampura,
Fixed
Assets:
v
Plant
& Machinery
v
Office
Equipments
v
Furniture
v
Computer
System
v
Vehicles
Financial Performance and Review of Operation:
During the year
under review the company had made turnover of Rs. 123.111 millions and earned
the profit of Rs. 3.035 million after providing for taxation Rs. 1.600 million
as compared to previous year Rs. 0.088 millions.
Form 8
|
Name of the
company |
BANG
OVERSEAS PRIVATE LIMITED |
|
Presented By |
ING Vysya Bank
Limited, Mittal Tower, A Wing, Nariman Point, Mumbai – 400 021. |
|
1) Date and
description of instrument creating the change |
General
hypothecation Agreement dated 10.11.2004 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 55.000
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 exclusive charge on the entire stock of raw material, stock in
process, finished goods, plant & machinery, office equipment, furniture,
computers, vehicles and all other movables, both present and future wherever
lying, situated or in transit. Hypothecation by
way of exclusive charge on the entire book debts, receivables, claims of the
company, both present and future. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest for CC @
ING Vysya Bank Reference Rate (IVRR)+ 0.25% p.a. compounded monthly or such
other rate as may be prescribed by the bank from time to time. Commission and
charges on FLC shall be as per bank Norms / FEDAI Guidelines from time to
time. Security to secure
CC of Rs. 15.000 Millions, FLC (DA/DP) of Rs. 40.000 Millions together with
interest, cost, expenses, charges, commission etc. |
|
5) Name and
Address and description of the person entitled to the charge. |
ING Vysya Bank
Limited, Mittal Tower, A Wing, Nariman Point, Mumbai – 400 021. |
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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 |
BANG OVERSEAS PRIVATE LIMITED |
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|
Presented By |
Mr. Venugopal
Bang Director of the company |
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1) Date and
description of instrument creating the change |
Cash Credit
agreement, Demand Promissory note, Hypothecation note dated 10.12.2002
executed by Bang Overseas Private Limited in favour of “The A P Mahesh
Co-operative Urban Bank Limited”. (There in and herein after referred to as
‘said Bank’) |
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|
2) Amount secured
by the charge/amount owing on the securities of charge |
Cash Credit Rs.
10.000 Millions (8.000 Millions against Book Debts and Rs. 2.000 Millions
against Stock) Foreign Letter of
Credit limited Rs. 40.000 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 of
Stock consisting of Raw Fabrics and process fabrics with 25% margin in the
company’s own godown or in open with in the firm premises. Hypothecation and
first charge on all book debts margin of 30 % outstanding money receivable
claim bill which are now due and in future also may becoe due and owing to
the company. |
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|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Cash Credit
Limit: 10.000 Millions
(8.000 Millions against Book Debts and Rs. 2.000 Millions against Stock) Rate of
Interest: 16% p.a.
Subject to change from time to time as decided by the Banks Board of
Directors. Period of
Sanction: One year Security: Primary: First
Charge on all current assets of the company. Collateral
Security: First charge on
all the fixed assets of the company book value as on 31.03.2002 is Rs. 2.428
Millions. Drawing of the account
should be regulated strictly on the basis of stock held keeping the
stipulated margin of 25% and Book Debts with margin of 30%. Document should
be drawn in strict conformity with the term FLC and all exports are backed up
by LCs opened by banks of international repute. |
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|
5) Name and
Address and description of the person entitled to the charge. |
The A P Mahesh
Co-operative Urban Bank Limited, Bhuleshwar Branch 103, 1st
Floor, Hotel Adarsh Baug, |
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|
6) Date and brief description of instrument
modifying the charge |
Agreement dated
09.06.2004 Instrument of
Hypothecation of Goods. Instrument of
Hypothecation of Book Debts. |
||||||||||||||||
|
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. |
The charge of the
A P Mahesh Co-operative Urban Bank Limited on Hypothecation of goods &
book debts, are modified as enhancement of Cash Credit Limit from 10.000
Millions to Rs. 15.000 Millions. The hypothecation of goods, Book Debts cover
following credit limits.
Margin: Stock Raw Materials – 25% Stock in Process
– 40% Finished Goods –
30% Book Debts – 40%
on debt should be 60 days only. Period of
Sanction: 12 months from
the date of availment. Repayable: on Demand |
|
Name of the
company |
BANG
OVERSEAS PRIVATE LIMITED |
|
Presented By |
Mr. Venugopal Bang
Director of the company |
|
1) Date and
description of instrument creating the change |
Cash Credit
agreement, Demand Promissory note, Hypothecation note dated 10.12.2002
executed by Bang Overseas Private Limited in favour of “The A P Mahesh
Co-operative Urban Bank Limited”. (There in and herein after referred to as
‘said Bank’) |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Cash Credit Rs.
10.000 Millions (8.000 Millions against Book Debts and Rs. 2.000 Millions against
Stock) Foreign Letter of
Credit limited Rs. 40.000 Millions |
|
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 of Stock
consisting of Raw Fabrics and process fabrics with 25% margin in the
company’s own godown or in open with in the firm premises. Hypothecation and
first charge on all book debts margin of 30 % outstanding money receivable
claim bill which are now due and in future also may becoe due and owing to
the company. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Cash Credit
Limit: 10.000 Millions
(8.000 Millions against Book Debts and Rs. 2.000 Millions against Stock) Rate of
Interest: 16% p.a.
Subject to change from time to time as decided by the Banks Board of
Directors. Period of
Sanction: One year Security: Primary: First
Charge on all current assets of the company. Collateral
Security: First charge on
all the fixed assets of the company book value as on 31.03.2002 is Rs. 2.428
Millions. Drawing of the
account should be regulated strictly on the basis of stock held keeping the
stipulated margin of 25% and Book Debts with margin of 30%. Document should be
drawn in strict conformity with the term FLC and all exports are backed up by
LCs opened by banks of international repute. |
|
5) Name and
Address and description of the person entitled to the charge. |
The A P Mahesh
Co-operative Urban Bank Limited, Bhuleshwar Branch 103, 1st
Floor, Hotel Adarsh Baug, |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
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 |
|
Corporate
identity number (CIN) Foreign company registration number |
U51900MH1992PTC067013 |
|
Name of the
Company |
BANG OVERSEAS PRIVATE LIMITED |
|
Address |
Masjid Manor, 2nd
Floor, 16, |
|
This form is for |
Modification of
charge |
|
Type of Charge |
A Charge on: v
Book
Debts v
Movable
Property (not being pledge) v
Floating
charge |
|
Particulars of
the charge holder |
Ing Vysya Bank
Limited E-Mail: narimanpointbr@ingvysyabank.com
|
|
Nature or
description of the instrument(s) creating or modifying the charge |
Supplemental
general hypothecation agreement |
|
Date of the
instrument creating or modifying the charge |
24.04.2007 |
|
Amount secured by
the charge |
Rs. 327.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
(a) Rate of
Interest CC: IVRR – 2.5% PCL/PSL: Upto 90
days IVRR – 3.5% STL: IVRR – 3% ILC / FLC (Commission):
As per Bank’s guidelines BG (Commission):
1% per annum, on performance of guarantees and financial guarantees. (b) Terms of
repayment Working Capital
Limits: On Demand TL: No Charge in
repayment terms (c) Margin CC: Raw
Materials, Stock in process and finished goods 25%, Book Debts 40% PCL / PCFC: 10% PSL / EBRD: Nil ILC/FLC: 10% BG: 20% (d) Extent and
operation of the charge First charge on
entire current assets such as raw materials, stock in process, finished
goods, book debts, spares and stores of the company and all the movable fixed
assets both present and future. |
|
Short particulars
of the property charged (including location of the property) |
Entire current assets
such as raw materials, stock in process, finished goods, book debts, spares
and stores of the company and all the movable fixed assets both present and
future located at different places as detailed in annexure. |
|
Particular of the
present modification |
The total limit
is enhanced to Rs. 327.000 millions |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 41.09 |
|
|
1 |
Rs. 81.46 |
|
Euro |
1 |
Rs. 55.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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. |
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 |
|