MIRA
INFORM REPORT
|
Report Date : |
16.02.2007 |
IDENTIFICATION
DETAILS
|
Name : |
YOU
TELECOM INDIA PRIVATE LIMITED |
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Registered Office : |
Ground
Floor, Building No. 1 – C, Nirlon Complex, Western Express Highway, Goregaon
(East), Mumbai – 400 063, Maharashtra, India. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.11.2000 |
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Com. Reg. No.: |
11-139320 |
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CIN No.: [Company
Identification No.] |
U51909MH2003PTC139320 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
The
Company offers high-speed broadband services to Residential, SME &
Corporate clients. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject
is a new company and in the process of establishing itself. Directors are
however reported as experienced and respectable businessmen. Trade relations
are reported as fair. Its Profitability is under severe pressure. Payments
are reported as slow & delayed. The
company can be considered for small to mediocre business dealings with slight
caution initially. |
LOCATIONS
|
Registered Office : |
Ground
Floor, Building No. 1 – C, Nirlon Complex, Western Express Highway, Goregaon
(East), Mumbai – 400 063, Maharashtra, India. |
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Tel. No.: |
91-22-40190000/
26850999 |
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Mobile No.: |
91-9892577898 |
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Fax No.: |
91-22-26850998 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr.
Duglas Orr Burns James Colin |
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Designation : |
Director
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Address : |
9, Old
Stocks Court, Upper Basildon, Reading, Berkshire RG88TD, UK |
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Date of Birth/Age : |
19.09.1954 |
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Date of Appointment : |
18.07.2001 |
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Name : |
Mr.
Shaw Richard Nigel |
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Designation : |
Director |
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Address : |
3,
Ashok Avenue, Westend Greens, Rajpkri, New Delhi – 110 001, Union Territory
of Delhi. |
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Date of Birth/Age : |
13.10.1954 |
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Date of Appointment : |
05.09.2001 |
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Name : |
Mr.
Chkravarthy R Evs |
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Designation : |
Director |
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Address : |
Falt
No. B/10001 (B) Lake Castle Co-Operative Housing Society, 10th
Floor, CTS No. 23 (PT), Hiranandani Estate, Powai, Mumbai – 400 005,
Maharashtra, India. |
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Date of Birth/Age : |
24.11.1961 |
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Date of Appointment : |
18.07.2001 |
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Name : |
Mr.
Chandra Atul Sandip |
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Designation : |
Director |
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Address : |
4A,
Sadlers Lane, Winner Sh, United Kingdom RG1SAJ, UK. |
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Date of Birth/Age : |
05.06.1967 |
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Date of Appointment : |
30.09.204 |
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Name : |
Mr.
Mohanty Rabinarayan Sanjay |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
16.12.1965A
40/4 DLF City, Phase – 1, Gurgaon – 122 002, Haryana. |
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Date of Appointment : |
30.06.2005 |
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Name : |
Mr.
Balajee Venkatraman M |
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Designation : |
Secretary
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Address : |
C-54,
Vasant Smruti, Thakur Complex, Kandivali (East), Mumbai – 400 101,
Maharashtra, India. |
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Date of Appointment : |
19.06.2003 |
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Name : |
Mr.
Akash Gupt |
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Designation : |
Director |
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Name : |
Mr.
Sridhar Ramachandran |
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Designation : |
Director
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Name : |
Mr.
Arvind Agarwal |
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Designation : |
Secretary |
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Address : |
C/O
Mr. G. N. Agarwal, 5-31 Ambabari, Jaipur – 302 023, Rajasthan., India. |
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Date of Birth/Age : |
25.02.1976 |
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Date of Appointment : |
14.07.2006 |
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Name : |
Mr.
Marc Desaedeleer |
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Designation : |
Additional
Director |
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Address : |
Lee
Gardens, Lower Road, Gerrads Cross, Buckinghamshire, EN SL98LQ |
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Date of Birth/Age : |
30.12.1950 |
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Date of Appointment : |
09.06.2006 |
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Name : |
Mr. P
R Srinivasan |
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Designation : |
Additional
Director |
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Address : |
3B,
Belvedere Court, Sane Guruji Marg, Mahalaxmi, Mumbai – 400 011, Maharashtra,
India. |
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Date of Birth/Age : |
01.06.1965 |
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Date of Appointment : |
09.06.2006 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
BG
India Telecom (Mauritius) |
36710000 |
|
British
Gas Asia Pacific Pte Limited |
2 |
BUSINESS DETAILS
|
Line of Business : |
The
Company offers high-speed broadband services to Residential, SME &
Corporate clients. |
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Brand Name: |
YOU |
GENERAL
INFORMATION
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Bankers : |
Not
Divulged |
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Auditors : |
Price
Waterhouse Chartered
Accountant |
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Tel. No.: |
ST.
Patrick’s Business Complex, 21 Museum Road, Bangalore – 560 025, Karnataka,
India. |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
105000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 1050.000 Millions |
|
155000000 |
Preference
Shares |
Rs. 10/- each |
Rs. 1550.000 Millions |
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TOTAL: |
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Rs. 2600.000
Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
36710002 |
Equity
Shares |
Rs. 10/- each |
Rs. 367.100 Millions |
|
153300000 |
Preference
Shares |
Rs. 10/- each |
Rs. 1533.000 Millions |
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TOTAL: |
|
Rs. 1900.100
Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
367.100 |
367.100 |
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2] Share Application Money |
|
1480.000 |
1250.000 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
(956.524) |
(677.182) |
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NETWORTH |
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890.576 |
939.918 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
33.868 |
35.477 |
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TOTAL BORROWING |
|
33.868 |
35.477 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
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924.444 |
975.395 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1173.756 |
1169.238 |
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Capital work-in-progress |
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60.933 |
105.137 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
3.915 |
8.252 |
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Sundry Debtors |
|
46.076 |
30.442 |
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Cash & Bank Balances |
|
12.006 |
32.375 |
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Other Current Assets |
|
24.957 |
10.481 |
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Loans & Advances |
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82.112 |
90.291 |
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Total Current Assets |
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169.066 |
171.841 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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474.813 |
468.444 |
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Provisions |
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6.169 |
5.156 |
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Total Current Liabilities |
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480.982 |
473.600 |
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Net Current Assets |
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(311.916) |
(301.759) |
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MISCELLANEOUS EXPENSES |
|
1.671 |
2.779 |
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TOTAL |
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924.444 |
975.395 |
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KEY
RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.58 |
0.54 |
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Current
Ratio (Current
Asset/Current Liability) |
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|
0.35 |
0.36 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
About
Subject is one of the leading providers of Broadband Internet in the
country with blazing fast speeds up to 50 times faster than dial-up! The
company is also one of India's first ISO 9001:2000 certified company in the
dedicated broadband business.
YOU offers its
servies under the YOU brand name. YOU was established in Surat in the year
2001. With its advanced technological and project management skills, the
Company has set up a state-of-the art fibre optic network in India. The network
provides abundant bandwidth during peak traffic hours, ensuring consistent
performance & reliability. Today, the YOU service offers high quality
internet solutions for data and Voice services across 11 cities in India namely,
Mumbai, Chennai, Hyderabad, Bangalore, Pune, Surat, Ahmedabad, Baroda, Gurgaon,
Navi Mumbai & Vizag, with plans to roll out services to other cities across
the country in the future
The Company offers
high-speed broadband services to Residential, SME & Corporate clients. As
an ISP, the Company has a stringent policy to provide the highest levels of
quality & service to all it's customers.
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. 44.09 |
|
UK
Pound |
1 |
Rs. 86.59 |
|
Euro |
1 |
Rs. 57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
- |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
22 |
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 |
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