MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
LAKSHMI CARD
CLOTHING MANUFACTURING COMPANY PRIVATE LIMITED |
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Registered Office : |
Semmipalayam Kuppusway Naidupuram, Coimbatore - 641 662, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.01.1960 |
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Com. Reg. No.: |
18-343 |
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CIN No.: [Company
Identification No.] |
U17219TZ1960PTC000343 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBL03203E |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer of
Card Clothing and Card Room Service Machineries |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD1748024 |
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Status : |
Good |
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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 of LMW Group, a well- known industrial house of
Coimbatore. Trade relations are
fair. Financial position is good. Payments are correct and as per
commitments. The company can
be considered good for normal business dealing at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Semmipalayam Kuppusway Naidupuram, Coimbatore - 641 662, Tamil Nadu, India |
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Tel. No.: |
91-4255-277105 to
277 107 |
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Fax No.: |
91-4255-277107 |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
Lakshmi Plaza, 1089,
Avanashi Road, Coimbatore – 641037, India |
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Tel. No.: |
91-422-210 205 [4
Lines] |
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Fax No.: |
91-422-216694 |
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E-Mail : |
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Website: |
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Corporate Office 2 : |
Kuppuswamynaidupuram
Post 641 662, Coimbatore District |
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Factory: |
Samipalayam Village,
Kuppuswami Nalcker Puram, Palada Taluk, Coimbatore - 641662, INDIA |
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Selling Agent
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1413, Trichy
Road, Coimbatore – 641014, India |
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Tel. No.: |
91-422-2303083 |
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Fax No.: |
91-422-2301515 |
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E-Mail : |
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Liaison
Office: |
191, Marshalls
Road, Egmore - 600 008, Chennai, Tamil Nadu, India |
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Tel. No.: |
91-44-2855 4990 /
2855 4369 |
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Branch: |
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Ahemedabad
Office: |
203, Anshi Avenue, Behind Ketav Petrol Pump, Opp. to Vandana School,
Gulbai Tekra, Ahmedabad 380 015, Gujarat, India |
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Tel No.: |
91-79 -2646 5754 |
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Fax No.: |
91-79 -2646 4933 |
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Email: |
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Chandigarh
Office: |
"Meeting Point", S.C.O.487-488, Sector 35-C, Chandigarh 160
022 |
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Tel No.: |
91-172-508 7324/260 3771 |
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Fax No.: |
91-172-262 1404 |
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Email: |
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Hyderabad
Office: |
302, Pragathy Enclave, Bhagya Nagar Colony Opp: Kukat Pally Housing
Board, Kukat Pally Post Hyderabad 500 072 |
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Tel No.: |
91-40-2306 5542 |
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Mobile No.: |
91-98481 35542 |
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Email: |
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Indore Office: |
305, Yesodha Apartments, 6/7, Mahaveer Nagar, Kanadia Road, Indore 452
018,Madhya Pradesh |
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Tel No.: |
91-731-503 5175 |
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Fax No.: |
91-98263 95175 |
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Email: |
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Kolhapur
Office: |
E/1894, F-1, Karekar Sankul, Rajarampuri 10th Lane, Kolhapur 416 008 |
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Tel No.: |
91-231-252 9709 |
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Mobile No: |
91-98222 77791 |
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Email: |
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Kolkata
Office: |
32/3, Doctor Bagane Lane, P.O. Serampore 712 203, Dist.Hooghly (West
Bengal) |
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Tel No.: |
91-33-2622 3142 |
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Email: |
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Madurai
Office: |
I-3 SIDCO Industrial Estate, K.Pudur, Madurai 625 007, Tamil Nadu |
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Tel No.: |
91-452-256 5855, 256 6756 |
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Fax No.: |
91-452-256 8263 |
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Email: |
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Nagpur Office: |
Flat No.203,
Sukhakarta Apartments, 15, Balraj Marg, Dhantoli, Nagpur 440 012, Maharashtra |
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Tel No.: |
91-712-2548340 |
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Fax No.: |
91-98229-32770 |
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Email: |
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Noida Office: |
403-C, Ocean
Plaza, Sector 18, Noida 201 301, Dist.Gautam Budh Nagar, Uttar Pradesh |
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Tel No.: |
91-120-2511047/019 |
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Fax No: |
91-120-2591498 |
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Email: |
DIRECTORS
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Name : |
Mr. S. Kuppuswamy Sundaram |
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Designation : |
Director |
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Address: |
Rasakondalu, Circuit House Road, Coimbatore – 641018, Tamilnadu, India |
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Date of Birth/Age : |
29.05.1914 |
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Date of Appointment : |
12.09.1980 |
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Name : |
Mr. Rangaswamy Santhanam |
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Designation : |
Vice Chairman and Managing Director |
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Address: |
Prathishta, New No.241, Old No.183, Race Course, Coimbatore – 641018,
Tamil nadu, India |
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Date of Birth/Age : |
21.03.1937 |
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Date of Appointment : |
11.09.1964 |
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Name : |
Mr. Sundaram Pathy |
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Designation : |
Director |
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Address: |
Rasakondalu, Circuit House Road, Coimbatore – 641018, Tamilnadu, India |
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Date of Birth/Age : |
17.11.1949 |
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Date of Appointment : |
27.03.1975 |
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Name : |
Mr. Reddyygari Chinna Hanumantha Reddy |
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Designation : |
Director |
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Address: |
Flat No.A4/2, 45, Park Avenue, Race Course, Coimbatore – 641018,
Tamilnadu, India |
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Date of Birth/Age : |
01.06.1935 |
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Date of Appointment : |
26.06.1996 |
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Name : |
Mr. Santharam Harishankar |
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Designation : |
Whole Time Director |
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Address: |
Prathishta, New No.241, Old No.183, Race Course, Coimbatore – 641018,
Tamil nadu, India |
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Date of Birth/Age : |
07.05.1973 |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mr. M Thangavelu |
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Designation : |
Director |
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Name : |
Mr. V Mohan |
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Designation : |
Director |
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Name : |
Mr. M Palaniswamy |
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Designation : |
Director |
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Name : |
Mr. Ralph a. Graf |
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Designation : |
Director |
KEY EXECUTIVES
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Name |
Mr. S. K.
Sundaram |
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Designation |
Chairman |
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Date of Birth |
20.19.1914 |
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Address |
27, Circuit House
Road, Coimbatore – 641018, India |
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Name |
Mr. R. Santhanam |
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Designation |
Vice Chairman and
Managing Director |
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Date of Birth |
04.03.1938 |
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Address |
Prathisht, 183,
Race Course Road, Coimbatore – 641018, India |
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Name |
Mr. S. Pathy |
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Designation |
Director |
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Date of Birth |
17.11.1949 |
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Address |
Rasakondalu, 27,
Circuit House Road, Coimbatore – 641018, India |
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Name |
Mr. Ralph A. Graf |
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Designation |
Director |
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Date of Birth |
25.09.1939 |
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Address |
Graf Sales
Limited, 28, Burgstrasse CH 8750, Switzerland |
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Name |
Mr. R. c. H.
Reddy |
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Designation |
Director |
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Date of Birth |
01.06.1935 |
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Address |
48, Race Course
Road, Coimbatore – 641018, India |
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Name |
Mr. S.
Harishankar |
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Designation |
Whole Time
Director |
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Date of Birth |
07.05.1973 |
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Address |
Prathishta, 183,
Race Course Road, Coimbatore – 641018,
India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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Percentage |
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Foreign Holdings, FIIs, FCs, FFIs, NRIs, OCB or Other |
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15.00 |
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Directors and
Relatives directors |
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68.96 |
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Bodies Corporate (not
mentioned above) |
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0.88 |
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Other top
fifty(50) shareholders (other than listed above) |
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15.16 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Card Clothing and Card Room Service Machineries |
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Products : |
Card
Clothing
C-Cleaner
Mark II Carding Systems
Card
Room Accessories
Hydro
Extractor RF
Dryer |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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GENERAL
INFORMATION
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No. of Employees : |
800 |
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Bankers : |
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Facilities : |
The subject is
enjoying the following facilities from Andhra Bank as per agreement dated
28.06.2006
It is secured
against immovable properties of land admeasuring area of 40.12 Acres situated
at Kuppusamy Puram, Palladam Taluk, Coimbatore, Tamil Nadu and land area: 12.06
acres situated at Nallatipalayam, Kinathukadavu, Pollachi Taluk in Coimbatore
District, Tamil Nadu. Hypothecation of
plant and machinery, stocks and book debts of the company. |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Subbchar and
Srinivasan Chartered
Accountants |
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Address : |
34, Kalingarayar
Street, Ram Nagar, Coimbatore - 641 009, Tamilnadu |
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Name: |
M S Rajagopalan Chartered
Accountants |
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Address: |
65-A, Venkata Samy
Road, R.S. Puram, Coimbatore – 641 002, Tamilnadu |
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Memberships : |
Confederation of
Indian Industry |
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Associates/Subsidiaries : |
1100, Avanashi Road, Coimbatore-641037, Tamil Nadu, India Tel. No. 91-422-2215461/68 Fax No. 91-422-2216508 E-mail : contact@lakshmimills.com
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity shares |
Rs.100/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity shares |
Rs.100/-
each |
Rs.30.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.000 |
30.000 |
30.000 |
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2] Reserves & Surplus |
407.006 |
370.516 |
318.325 |
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3] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
437.006 |
400.516 |
348.325 |
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LOAN FUNDS |
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1] Secured Loans |
189.060 |
140.276 |
99.175 |
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2] Unsecured Loans |
99.961 |
114.637 |
97.833 |
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TOTAL BORROWING |
289.021 |
254.913 |
197.008 |
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DEFERRED TAX LIABILITIES |
26.277 |
12.986 |
17.270 |
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TOTAL |
752.304 |
668.415 |
562.603 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
150.568 |
108.201 |
96.740 |
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Capital work-in-progress |
4.244 |
0.000 |
2.884 |
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INVESTMENT |
78.731 |
87.168 |
53.139 |
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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 |
131.297
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124.357 |
125.447 |
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Sundry Debtors |
159.510
|
151.068 |
122.776 |
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Cash & Bank Balances |
275.868
|
244.274 |
176.399 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
284.699
|
212.011 |
155.762 |
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Total
Current Assets |
851.374
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731.710 |
580.384 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
116.605
|
104.491 |
81.527 |
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Provisions |
217.649
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155.518 |
90.814 |
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Total
Current Liabilities |
334.254
|
260.009 |
172.341 |
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Net Current Assets |
517.120
|
471.701 |
408.043 |
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MISCELLANEOUS EXPENSES |
1.641 |
1.345 |
1.797 |
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TOTAL |
752.304 |
668.415 |
562.603 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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798.217 |
630.634 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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798.217 |
630.634 |
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Profit/(Loss) Before Tax |
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138.735 |
101.989 |
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Provision for Taxation |
|
48.916 |
38.751 |
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Profit/(Loss) After Tax |
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89.819 |
63.238 |
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Earnings in Foreign Currency : |
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Export Earnings |
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106.155 |
81.940 |
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Other Earnings |
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0.000 |
0.000 |
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Total Earnings |
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106.155 |
81.940 |
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Imports : |
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Raw Materials |
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75.131 |
N.A. |
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Others |
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0.000 |
N.A. |
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Total Imports |
|
75.131 |
N.A. |
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Expenditures : |
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Insurance Expenses |
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0.000 |
0.000 |
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Power & Fuel |
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0.000 |
0.000 |
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Depreciation & Amortization |
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0.000 |
0.00 |
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Other Expenditure |
|
608.696 |
487.318 |
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Total Expenditure |
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608.696 |
487.318 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
N.A.
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11.25 |
10.02 |
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Net Profit Margin (PBT/Sales) |
(%) |
N.A.
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17.38 |
16.17 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
N.A.
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16.51 |
15.06 |
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Return on Investment (ROI) (PBT/Networth) |
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N.A.
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0.34 |
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.42
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1.28 |
1.06 |
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Current Ratio (Current Asset/Current Liability) |
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2.54
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2.81 |
3.36 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Corporate identity
number (CIN) Foreign company registration number |
U17219TZ1960PTC000343 |
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Name of the
Company |
LAKSHMI CARD
CLOTHING MANUFACTURING COMPANY PRIVATE LIMITED |
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Address |
Semmipalayam Kuppusway Naidupuram, Coimbatore - 641 662, Tamil Nadu, India |
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This form is for |
Modification of
charge |
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Type of Charge |
Movable Property
(not being pledge) |
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Particulars of
the charge holder |
Andhra Bank Main Branch, 17 –
Mill Road, Coimbatore – 641041, Tamilnadu, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Composite
Agreement |
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Date of the instrument
creating or modifying the charge |
01.11.2007 |
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Amount secured by
the charge |
Rs.160.750
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
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Short particulars
of the property charged (including location of the property) |
The Plant and
Machinery Erected at the Factory or Stored at any other place. |
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Particular of the
present modification |
Modification of
the limits from Rs.80.750 Millions to Rs.160.750 Millions and all other
conditions remain the same. |
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Name of the company |
LAKSHMI CARD
CLOTHING MANUFACTURING COMPANY PRIVATE LIMITED |
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Presented By |
Lakshmi Card
Clothing Mnufacturing Company Private Limited and Bank of Baroda and
Andhra Bank, Coimbatore |
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1) Date and description of instrument creating the change |
Date and
Description of the instrument Creating the charge. Joint equitable mortgage
created by Lakshmi Card Clothing Mnufacturing Company Private Limited., by
deposit of title deeds of the immovable properties and fixed assets of the
company in favour of Bank of Baroda and Andhra Bank on 12.08.1985 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Amount Secured by
the charge/amount owing on security of the charge- Bank of
Baroda Rs.
13.429 Millions Andhra Bank Rs. 9.238
Millions Total Rs. 22.667 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 |
Short Particular
of the property charged, If the acquired is subject to charge, date of the
acqulstion of property should be given. Deposit of title
deeds of the immovable property belonging to the company, briefly as under;
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4) Gist of the terms and conditions and extent and operation of the charge. |
The Company has
Created joint equitable mortgage by deposit of title deeds in favour of Bank
of Baroda and Andhra Bank on jointly on a pari passu on the immovable
property of the company together with building and other stricture, Fixed
plants and machinery, equipment, installation, fitting and fixture now
erected or hereafter to be brough theron and to be creted to secured the due
repayment of the following.
The due repayment
of the interest repayment, Premia Cost charge and expenses liquidated damages
in the default in payment of installment and interest and all other monies
payable by the company to bank of Baroda and Andhra Bank. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda 82 Bank Road,
Coimbatore - 641018 |
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6) Date and brief description of instrument modifying the charge |
09.01.2006 Letter of
confirmation executed by the Company Memorandum of entry by Bank of Baroda acting for itself and andhra
bank. Letter of the bank for shifting the wind mill. |
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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. |
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Subject has entered
into foreign collaboration with equity participation of 15%.
The company’s
product range include :
Card Clothing
- Cylinder
Wires
- Doffer Wires
- Flat Tops
- Lickerin
Wires
- Special
Wires
- Stripping
Fillets
- C-Cleaner
Mark II Carding System
- Card Room
Accessories
- Radio
Frequency Dryer
- Hydro
Extractor [Brand Name Zeneros] – It is specially designed for centrifuge
of yarn cones or cheeses after dyeing
- R.F. Dryer
[Brand Name INSTA] – It is very useful in cases where the textile
materials are to be dried after dyeing, mercerising or wet processing.
The company exports
Metallic Card Clothing, Flat Tops, Lickerin Wire Stripping Fillets, C-cleaners,
OE-rollers, Card Room Accessories, Radio Frequency Dryers.
The company imports
Steel Wire Rods, Steel Card Wire
It is in trade
terms with :
·
Raymonds
Limited, Chinchwada, Maharashtra, India
·
Tuticorin
Spinning Mills Limited, Tuticorin, Tamil Nadu, India
·
Dev Tharea Rag
Rugs, Ghaziabad, Uttar Pradesh, India
·
Precot Mills
Limited, Unit STP Dyeing
·
Sivasakthi Tex
Processes, Tirupur, Tamil Nadu, India
The company is a
part of the celebrated Indian corporate house ‘The House of Lakshmi’ which
holds a prestigious position in the textile and textile machinery market. The company offers the ‘Complete Card Room
Technology’.
The company is
capable of manufacturing complete range of Card Clothing and Card Room Service
Machineries. They have been awarded the
EN-ISO 9001 certification by RW-TUV of Germany, which turns out to be the
recognition of its expertise in designing, development, manufacturing and
servicing in the domain of Card Clothing.
The subject company has recently launched 6 new products. In addition to
the existing cardroom accessories, 4 new products have been launched. One
product - CuttySharp II from Card Clothing and one more product - C-Factor
Carding System has also been launched
The efforts of its
R and D team backed by expertise and quality is sustained by its close
association with leading Original Equipment Manufacturers like LMW an TRUMAC.
This has lead to the development of sophisticated products, which have
revolutionised the carding technology.
AS PER WEBSITE
Subject is a part of the celebrated Indian
corporate house "THE HOUSE OF LAKSHMI" which holds a
prestigious position in the textile and textile machinery market. Subject
offers the "Complete Card Room Technology".
They
are capable of manufacturing complete range of Card Clothing and Card Room
Service Machineries. They have been awarded the EN - ISO 9001 : 2000
certification by RW-TUV of Germany, which turns out to be the recognition of
their expertise in designing, development, manufacturing & servicing in the
domain of Card Clothing.
The efforts of their R and D team backed by expertise and
quality is sustained by its close association with leading Original Equipment
Manufacturers (OEM) like LMW and TRUMAC. This has lead to the development of
sophisticated products, which have revolutionized the carding technology.
Products
They
produce a variety of products to meet the basic and comfort needs of modern
spinners for carding all types of fibres to improve quality.
Products Include:
·
C - Cleaner
MARK II Carding System
·
Radio Frequency Dryer and Hydro
Extractor
Services
Subject has a well
linked Sales and Service network. This helps us in providing excellent service
and support to their customers.
They are
represented by both International and National selling agents.
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 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.39.37 |
|
UK Pound |
1 |
Rs.79.47 |
|
Euro |
1 |
Rs.56.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
68 |
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 |
|