MIRA
INFORM REPORT
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Report Date : |
15th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
NARDEV
CHEMIE PTE LTD |
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Registered Office : |
61 Kaki Bukit Ave 1, #05-45, Shun Li Industrial Park, Singapore 417943, Singapore |
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Country : |
Singapore |
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Date of Incorporation : |
02.06.1989 |
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Legal Form : |
Exempt Pte Ltd |
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Line of Business : |
Distributor of chemicals for cosmetic and
pharmaceutical industries |
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 : |
USD15,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
NARDEV CHEMIE PTE LTD
Line Of Business
DISTRIBUTOR OF CHEMICALS FOR COSMETIC AND
PHARMACEUTICAL INDUSTRIES
Parent Company
-
Financial Elements
Sales :
-
Networth :
-
Paid-Up Capital : S$760,000
Net result : -
Net
Margin(%) : -
Return on Equity(%) : -
Leverage Ratio : -
Rating
Credit Requested : USD15,000
Credit Rating : LOW RISK
Credit Opinion : RECOMMEND ON USD15,000
BUSINESS INFORMATION REPORT
COMPANY IDENTIFICATION
Subject Company : NARDEV CHEMIE PTE LTD
Former Name : -
Business Address : 61 KAKI BUKIT AVE 1, #05-45, SHUN LI INDUSTRIAL PARK
Town : SINGAPORE
Postcode : 417943
County : -
Country : Singapore
Telephone : 6743 7480
Fax : 6743 2346
ROC Number : 198902231C
Reg. Town : -
SUMMARY
All amounts in this report are in : SGD
Legal Form : Exempt Pte Ltd
Date Inc. : 02/06/1989
Previous Legal Form : -
Summary year : -
Sales : -
Paid-Up Capital : 760,000
Net Worth : -
Employees : 5
Net Result : -
Auditor : DAN NG PING YUEN & CO
REFERENCES
Credit Requested : USD15,000
Credit Rating : LOW RISK
Credit Opinion : RECOMMEND USD15,000
Litigation : No
Company status : TRADING
Started : 02/06/1989
PRINCIPAL(S)
KHOE HONG OAN S2183233B Managing Director
DIRECTOR(S)
SO PO PO S2175507I Company Secretary
Appointed on : 10/08/1991
Street : 73 DUNBAR WALK, FRANKEL ESTATE
Town : SINGAPORE
Postcode : 459380
Country : Singapore
KHOE HONG OAN S2183233B Managing Director
Appointed on : 30/06/2005
Street : 37 GREENFIELD DRIVE, FRANKEL ESTATE
Town : SINGAPORE
Postcode : 457941
Country : Singapore
TIO PHOOI SIANG S2511578C Director
Appointed on : 03/04/1992
Street : 10 EASTWOOD DRIVE
Town : SINGAPORE
Postcode : 486376
Country : Singapore
TAY SIEW HIONG S1697321A Director
Appointed on : 30/04/2003
Street : 10 EASTWOOD DRIVE
Town : SINGAPORE
Postcode : 486376
Country : Singapore
CHANG FEE BING S6974065J Director
Appointed on : 30/04/2003
Street : 37 GREENFIELD DRIVE, FRANKEL ESTATE
Town : SINGAPORE
Postcode : 457941
Country : Singapore
KHOE HONG OAN S2183233B Director
Appointed on : 02/06/1989
Street : 37 GREENFIELD DRIVE, FRANKEL ESTATE
Town : SINGAPORE
Postcode : 457941
Country : Singapore
KHOE HONG OAN S2183233B Manager
Appointed on : 30/06/2005
Street : 37 GREENFIELD DRIVE, FRANKEL ESTATE
Town : SINGAPORE
Postcode : 457941
Country : Singapore
ACTIVITY (IES)
IMPORTERS And EXPORTERS Code:
11760
PERFUME - WHSLE And MFRS Code: 16240
BASED ON ACRA'S RECORD AS AT 11/01/2007
1) GENERAL WHOLESALE TRADE (INCLUDING
GENERAL IMPORTERS AND EXPORTERS)
CHARGES
Date :
19/10/2005
Comments :
CHARGE NO : C200506496
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE(S) :
UNITED OVERSEAS BANK LTD
Date :
10/12/1998
Comments :
CHARGE NO : 199806098 (DISCHARGED - 13/10/2005)
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE(S) :
DBS FINANCE LIMITED
Date :
28/02/2000
Comments :
CHARGE NO: 200000980 (DISCHARGED - 13/10/2005)
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE(S) :
DBS FINANCE LIMITED
Date :
03/08/2001
Comments :
CHARGE NO : 200103686 (DISCHARGED - 13/10/2005)
SECURED :
0.00 AND ALL MONIES OWING
CHARGEE(S) :
THE DEVELOPMENT BANK OF SINGAPORE LTD
Date :
23/10/2002
Comments :
CHARGE NO : 200204685 (DISCHARGED - 13/10/2005)
AMOUNT SECURED : 0.00 AND ALL MONIES OWING
CHARGEE :
MALAYAN BANKING BHD
PREMISES/PROPERTY INFORMATIONS
Date : 04/01/2006
Tax rate : 10%
Site Address : 61 KAKI BUKIT AVE 1 05-45, SHUN LI INDUSTRIAL PARK
Town : SINGAPORE
Postcode : 417943
Country : Singapore
Annual Value : SGD 20,400
*TAX RATE OF 4% MEANS THE ADDRESS (I.E RESIDENTIAL PROPERTY) IS OWNER OCCUPIED.
*TAX RATE OF 10% MEANS THE ADDRESS (I.E RESIDENTIAL PROPERTY) IS PARTIALLY OR FULLY RENTED OUT BY THE OWNER/OWNED BY COMPANY.
*FOR PROPERTIES OTHER THAN RESIDENTIAL PROPERTIES REGARDLESS RENTED OUT OR NOT, THE TAX RATE IS 10% (I.E INDUSTRIAL AND COMMERCIAL PROPERTY).
*ANNUAL VALUE IS THE ESTIMATED ANNUAL RENT
THE PROPERTY CAN FETCH IF IT WERE RENTED OUT. THE ANNUAL VALUE IS DETERMINED IN
THE SAME MANNER REGARDLESS OF WHETHER THE PROPERTY IS LET-OUT, OWNER-OCCUPIED
OR VACANT.
BANKERS
STANDARD CHARTERED BANK LTD
DBS BANK LTD.
MALAYAN BANKING BHD
UNITED OVERSEAS BANK LIMITED
SHAREHOLDERS(S)
KHOE HONG OAN 570,000 Private Person
Street : 37 GREENFIELD DRIVE, FRANKEL ESTATE
Town : SINGAPORE
Postcode : 457941
Country : Singapore
TIO PHOOI SIANG 190,000 Private Person
Street : 10 EASTWOOD DRIVE
Town : SINGAPORE
Postcode : 486376
Country : Singapore
FORMER SHAREHOLDER(S)
SUHARYANTO NICOLAUS 7,500
OSCAR DJUNAEDI 10,000
TAN HONG LIONG 7,500
TAN LYE HOCK 7,500
SUBSIDIARY (IES)
No Participation
In Our Database
PAYMENT HISTORY AND EXPERIENCES
Trade Morality :
AVERAGE
Liquidity :
UNKNOWN
Payments :
REGULAR
Trend :
LEVEL
Financial Situation : UNKNOWN
LITIGATION(S)
No Litigation In Our Database
FINANCIAL COMMENTS
LIMITED
EXEMPT PRIVATE COMPANY:
WHERE THE SHARES OF A PRIVATE COMPANY ARE
NOT OWNED BY ANY CORPORATE BODY AND THERE ARE NO MORE THAN 20 MEMBERS, THE PRIVATE COMPANY
IS KNOWN AS AN EXEMPT PRIVATE COMPANY.
AN EXEMPT PRIVATE COMPANY ENJOYS A GREATER
AMOUNT OF PRIVACY THAN A PRIVATE COMPANY. IT IS NOT REQUIRED TO FILE ACCOUNTS WITH THE
REGISTRAR IF IT CAN PRODUCE A CERTIFICATE SIGNED BY ONE OF ITS DIRECTORS,
SECRETARY AND AUDITOR CONFIRMING THE FOLLOWING POINTS:
1. THE COMPANY IS AN EXEMPT PRIVATE COMPANY.
2. THE AUDITED ACCOUNTS HAVE BEEN TABLED
BEFORE THE SHAREHOLDERS
AT THE ANNUAL GENERAL MEETING.
3. THE COMPANY IS ABLE TO MEET ITS
LIABILITIES.
THERE IS THEREFORE NO DISCLOSURE TO THE
PUBLIC OF THE ACCOUNTS OF THE COMPANY ALTHOUGH THE ACCOUNTS STILL HAVE TO BE AUDITED
EVERY YEAR AND APPROVED AT AN ANNUAL GENERAL MEETING OF THE COMPANY.
A PRIVATE COMPANY THAT IS WHOLLY OWNED BY
THE GOVERNMENT MAY BECOME AN EXEMPT PRIVATE COMPANY IF THE MINISTER FOR FINANCE, IN
THE NATIONAL INTEREST, DECLARES IT TO BE SUCH BY A GAZETTE
NOTIFICATION.
EXEMPT FROM AUDIT
AN EXEMPT PRIVATE COMPANY IS EXEMPT FROM AUDIT REQUIREMENTS IF THE STARTING DATE OF ITS FINANCIAL YEAR IS BETWEEN 15 MAY 2003 AND 31 MAY 2004 AND ITS TURNOVER FOR THAT FINANCIAL YEAR DOES NOT EXCEED $2.5 MILLION. FOR FINANCIAL YEARS STARTING 1 JUNE 2004, THE AMOUNT OF THE TURNOVER HAS BEEN RAISED TO $5 MILLION. THESE COMPANIES ARE STILL REQUIRED TO MAINTAIN PROPER ACCOUNTING.
BACKGROUND/OPERATION
THE COMPANY WAS INCORPORATED IN THE REPUBLIC
OF SINGAPORE ON
02/06/1989 A LIMITED EXEMPT PRIVATE COMPANY AND IS TRADING UNDER ITS
PRESENT NAMESTYLE OF "NARDEV CHEMIE PTE LTD".
AS AT 11/01/2007, SUBJECT HAS AN ISSUED AND
PAID-UP CAPITAL OF 760,000 SHARES OF A VALUE OF S$760,000.
PRINCIPAL
ACTIVITIES:
SUBJECT IS REGISTERED WITH THE ACCOUNTING
AND CORPORATE REGULATORY AUTHORITY (ACRA) BE PRINCIPALLY ENGAGED IN THE BUSINESS OF:
1) GENERAL WHOLESALE TRADE (INCLUDING
GENERAL IMPORTERS AND EXPORTERS)
2) MANUFACTURE OF PERFUMES, FRAGRANCES AND
ESSENTIAL OILS
FROM THE RESEARCH CONDUCTED, THE FOLLOWING
INFORMATION WAS GATHERED:
SUBJECT IS LISTED IN THE SINGAPORE LOCAL
DIRECTORY UNDER THE CLASSIFICATION OF: CHEMICALS.
SUBJECT ENGAGES IN THE FOLLOWING ACTIVITIES:
* DISTRIBUTOR OF CHEMICALS FOR COSMETIC AND
PHARMACEUTICAL INDUSTRIES
THE SUBJECT IS ONLY IN THE BUSINESS OF
DISTRIBUTION - HANDLING IMPORT AND EXPORTS. THE PRODUCTS ARE COSMETIC INGREDIENTS USED IN
SKINCARE, SHAMPOO AND SLIMMING.THEY COME IN RAW BRANDS AND ONE OF
THE SKINCARE'S BRAND IS
EXSYMOL. THE PRODUCTS ARE IMPORTED FROM COUNTRIES SUCH AS US,
FRANCE AND ITALY. WHEN THE PRODUCTS ARRIVE IN SINGAPORE, THEY ARE RE-EXPORTED
TO COUNTRIES SUCH AS VIETNAM, THAILAND AND TAIWAN.
IN ADDITION, SUBJECT HAS LABORATORIES IN
SINGAPORE, SHENZHEN (CHINA), JAKARTA, MALAYSIA AND VIETNAM WHICH ARE DESIGNED TO WORK HAND-IN
HAND WITH CUSTOMERS TO HELP DEVELOP, IMPROVE AND ADAPT FORMULATIONS.
OFFICES IN :
* HONG KONG, INDONESIA, ISRAEL, MAINLAND
CHINA, MALAYSIA, THAILAND AND VIETNAM
REGISTERED AND BUSINESS ADDRESS::
61 KAKI BUKIT AVENUE 1
#05-45
SHUN LI INDUSTRIAL PARK
SINGAPORE 417943
DATE OF CHANGE (ADDRESS) : 06/01/2000
-- OWNED PREMISE
WEBSITE:
* http://www.nardev.com
EMAIL:
* sing@nardev.com
MANAGEMENT
THE DIRECTORS IN OFFICE AT THE TIME OF THE
REPORT ARE:
1) TAY SIEW HIONG, A SINGAPOREAN
- HOLDS NO OTHER DIRECTORSHIP AS RECORDED IN
OUR DATABASE
2) KHOE HONG OAN, A SINGAPORE PERMANENT
RESIDENT
- HOLDS OTHER DIRECTORSHIP AS RECORDED IN
OUR DATABASE
HOFB ASIA PTE LTD
NARDEV CHEMIE SDN BHD
3) TIO PHOOI SIANG, A SINGPAORE PERMANENT
RESIDENT
- HOLDS NO OTHER DIRECTORSHIP AS RECORDED IN
OUR DATABASE
4) CHANG FEE BING, A SINGAPOREAN
- HOLDS OTHER DIRECTORSHIP AS RECORDED IN
OUR DATABASE
HOFB ASIA PTE LTD
ADVERSE ON DIRECTORS
DIRECTOR'S NAME :
TAY SIEW HIONG
ADVERSE REPORT AGAINST DIRECTOR : NIL
PROPERTY OWNERSHIP : OWNS 1
ANNUAL VALUE :
S$11,400
CO-OWNER :
TIO PHOOI SIANG
DIRECTOR'S NAME :
KHOE HONG OAN
ADVERSE REPORT AGAINST DIRECTOR : NIL
PROPERTY OWNERSHIP : NIL
ANNUAL VALUE :
NA
CO-OWNER :
NA
DIRECTOR'S NAME :
TIO PHOOI SIANG
ADVERSE REPORT AGAINST DIRECTOR : NIL
PROPERTY OWNERSHIP : OWNS 1
ANNUAL VALUE :
S$11,400
CO-OWNER :
TAY SIEW HIONG
DIRECTOR'S NAME :
CHANG FEE BING
ADVERSE REPORT AGAINST DIRECTOR : NIL
PROPERTY OWNERSHIP : OWNS 1
ANNUAL VALUE :
S$36,000
CO-OWNER :
NIL
ANNUAL VALUE IS THE ESTIMATED ANNUAL RENT
THE PROPERTY CAN FETCH IF IT WERE RENTED OUT. THE ANNUAL VALUE IS DETERMINED IN THE SAME
MANNER REGARDLESS OF WHETHER THE PROPERTY IS LET-OUT, OWNER-OCCUPIED
OR VACANT.
SINGAPORE'S COUNTRY RATING 2006
INVESTMENT GRADE
IN SINGAPORE, THE POLITICAL SITUATION
APPEARS TO BE VERY STABLE.
ECONOMIC GROWTH IS BECOMING MORE MODERATE AS
INVESTMENT HAS BEEN FLAT DUE TO INCREASING OIL PRICES AND LESS BUOYANT DEMAND
FOR ELECTRONIC PRODUCTS.
ECONOMIC PERFORMANCE HAS REMAINED STRONG,
UNDERPINNED BY PHARMACEUTICALS AND SERVICES. EXPORTS HAS BENEFITED FROM THE
STEADINESS OF DEMAND FROM ITS MAIN TRADING PARTNERS, MALAYSIA, THE UNITED
STATES, CHINA AND HONG KONG. OTHER THAN ITS BALANCED PUBLIC SECTOR ACCOUNTS,
LIMITED FOREIGN DEBT AND COMFORTABLE FOREIGN CURRENCY RESERVES HAVE CONTRIBUTED
TO SINGAPORE'S STRONG FINANCIAL CONDITION.
AS THE ELECTRONICS SECTOR FACES COMPETITION
FROM THE ASIAN ECONOMIES, SINGAPORE HAS BEEN PURSUING DIVERSIFICATION STRATEGY
THAT HAS BEEN CONSOLIDATING ITS POSITION. PHARMACEUTICALS ALREADY REPRESENT 10%
OF EXPORTS IN COMPARATIVE TO ITS INSIGNIFICANT CONTRIBUTION IN YEAR 1995.
ELECTRONICS SECTOR SECTOR'S SHARE HAS DECLINED FROM 80% TO 60% DURING THE SAME
PERIOD. THERE IS HIGH RELIANCE ON DEVELOPMENT OF PETROCHEMICAL PRODUCTS, HIGH
VALUE-ADDED SERVICES AND BIOTECHNOLOGIES.
ASSETS
- ONE OF THE MOST OPEN ECONOMIES IN THE
WORLD WITH EXPORTS PLAYING A MAJOR
ROLE IN ITS PERFORMANCE.
- ONE OF ASIA'S MOST ADVANCED COUNTRIES IN
QUALITY COMPETITIVENESS TERMS.
- WORKFORCE'S EDUCATION AND SKILL LEVEL IS
VERY HIGH.
- A MAJOR EXPORT OF CAPITAL IN ASIA,
PARTICULARLY THE STATE-OWNED HOLDING
COMPANY, TEMASEK.
- THE BUSINESS ENVIRONMENT HAS BEEN VERY
FAVOURABLE.
- GREAT POLITICAL STABILITY.
WEAKNESSES
- ECONOMY REMAINED OVERSPECIALISED IN THE
ELECTRONICS SECTOR.
- MUST ACCELERATE DIVERSIFICATION IN
SERVICES TO MAINTAIN ITS LEAD OVER
OTHER ASIAN ECONOMIES
- REFORMS ARE STILL NEEDED TO FOSTER
INNOVATION AND EDUCATION-SYSTEM
MODERNIZATION.
- AGING POPULATION COULD ULTIMATELY AFFECT
ECONOMIC PERFORMANCE.
WHOLESALE TRADE SECTOR
PAST PERFORMANCE
WITH THE GROWTH IN NON-OIL RE-EXPORTS AND
THE RISE IN RETAIL SALES, THE WHOLESALE AND RETAIL TRADE SECTOR GREW BY A
ROBUST 15% IN 1Q2006, UP FROM THE 12% GAIN IN 4Q2005.
DOMESTIC
WHOLESALE TRADE INDEX
FOLLOWING SEVEN QUARTERS OF DOUBLE-DIGIT
GROWTH, THE OVERALL DOMESTIC WHOLESALE TRADE INDEX MODERATED TO 7.5% IN 1Q2006.
EXCLUDING PETROLEUM, THE INDEX ROSE BY 14.2% OVER THE SAME PERIOD LAST YEAR.
DOMESTIC SALES OF GENERAL WHOLESALE TRADE
ROSE SUBSTANTIALLY BY 61.6%. SHIP CHANDLERS & BUNKERING REGISTERED RISES
WHICH WAS MAINLY ATTRIBUTED TO PRICE INCREASES. TELECOMMUNICATIONS &
COMPUTERS AND ELECTRONIC COMPONENTS POSTED
DOUBLE-DIGIT GROWTHS.
ON THE OTHER HAND, DOMESTIC WHOLESALE OF
PETROLEUM & PETROLEUM PRODUCTS FELL BY 2.1% IN 1Q2006, THE FIRST DECLINE
SINCE 1Q2004. DOMESTIC SALES OF FOOD, BEVERAGES & TOBACCO, PAINTS & CONSTRUCTION
MATERIALS, TIMBER ALSO FELL COMPARED TO 1Q2005.
AT CONSTANT PRICES, THE OVERALL INDEX
DECLINED BY 4.4% IN 1Q2006 OVER 1Q2005, MAINLY DUE TO LOWER ACTIVITY IN
CHEMICAL AND PETROLEUM SECTORS. EXCLUDING PETROLEUM, IT WAS 7.9% HIGHER THAN A
YEAR AGO.
ON A QUARTER-ON-QUARTER BASIS, THE OVERALL
INDEX POSTED A DECLINE OF 16.5% COMPARED TO 4Q2005. EXCLUDING PETROLEUM, THE
INDEX WERE LOWER BY 8.9%.
MOST OF THE MAJOR SECTORS REGISTERED SLOWER
BUSINESS IN 1Q2006 WITH THE EXCEPTION OF TELECOMMUNICATIONS & COMPUTERS AND
GENERAL WHOLESALE TRADE.
FOREIGN
WHOLESALE TRADE INDEX
AS COMPARED TO 1Q2005, THE OVERALL FOREIGN
WHOLESALE TRADE IN 1Q2006 ROSE BY
15.4%. EXCLUDING PETROLUEM, THE INDEX
EXPANDED BY 11.5%.
SHIP CHANDLERS & BUNKERING MAINTAINED
THEIR GROWTH MOMENTUM OF 63.5% IN THE FIRST QUARTER OF 2006, IN COMPARISON TO
THE HIGHER 81.7% GROWTH IN 4Q2005. ON A YEAR-ON-YEAR BASIS, ELECTRONIC
COMPONENTS GREW BY 22.8%, PETROLEUM & PETROLEUM PRODUCTS ROSE BY 20.3%, AND
GENERAL WHOLESALE TRADE GREW BY 18.7% IN 1Q2006.
IN CONTRAST, HOUSEHOLD EQUIPMENT &
FURNITURE, FOOD, BEVERAGES & TOBACCO, PAINTS & CONSTRUCTION MATERIALS,
WHOLESALERS OF TIMBER REPORTED SLOWER FOREIGN BUSINESS OVER THE SAME PERIOD
LAST YEAR.
AT CONSTANT PRICES, THE OVERALL INDEX ROSE
MARGINALLY BY 0.9% IN 1Q2006 OVER A YEAR AGO. EXCLUDING PETROLEUM, IT WAS UP BY
7.6%.
ON A QUARTER-ON-QUARTER BASIS, THE OVERALL
INDEX POSTED A DECLINE OF 9.4%
FOLLOWING GROWTH FOR THREE CONSECUTIVE
QUARTERS. EXCLUDING PETROLEUM, THE INDEX WERE LOWER BY 8.6%.
THE MAJOR SECTORS MOSTLY POSTED LOWER
FOREIGN SALES WITH THE EXCEPTION OF TELECOMMUNICATIONS & COMPUTERS SECTOR
IN 1Q2006. THE HOUSEHOLD EQUIPMENT & FURNITURE, FOOD, BEVERAGES &
TOBACCO SECTOR ALL REPORTED DECLINE IN TURNOVER OF MORE THAN 17% IN THE FIRST
QUARTER OF 2006 OVER 4Q2005.
AHEAD
WHOLESALERS PREDICTS POSITIVE BUSINESS
CONDITIONS FOR THE PERIOD ENDING DECEMBER 2006. THOSE DEALING IN FURNITURE
& FURNISHINGS, COSMETICS & TOILETRIES, JEWELLERY & WATCHES,
HOUSEHOLD ELECTRICAL APPLIANCES & EQUIPMENT, ELECTRONIC COMPONENTS,
SCIENITIFIC & PRECISION EQUIPMENT, ARE AMONG THOSE WHO ARE OPTIMISTIC ABOUT
THE BUSINESS OUTLOOK AHEAD.
EXTRACTED FROM : MINISTRY OF TRADE AND
INDUSTRY, SINGAPORE
SINGAPORE DEPARTMENT OF STATISTICS
TODAY
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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