%20PRIVATE%20LIMITED%2008-Jan-2007_files/image002.jpg)
MIRA
INFORM REPORT
|
Report Date : |
08.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
PHOROTECH
SURFIN (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered Office : |
No.18,
Sahajeevan Apartments, 219, Rajmahal Vilas Extension, Bangalore-560080,
Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
20.02.1997 |
|
|
|
|
Com. Reg. No.: |
08-23527 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U2890TN1997PTC037565 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CHEP02221C |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Service
activities related to Electro Phoretic Paintings |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well-established and reputed company having satisfactory trade.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
No.18,
Sahajeevan Apartments, 219, Rajmahal Vilas Extension, Bangalore-560080,
Karnataka, India |
|
Tel. No.: |
91-80-23612246 |
|
Fax No.: |
91-80-23618887 |
|
E-Mail : |
|
|
|
|
|
Branches
: |
Survey.
No.52, Attibele, Anekal Road, Arehalli Village, Mayasandra B. O, Bangalore-562107, Karnataka, India |
|
E-Mail
: |
DIRECTORS
|
Name : |
Mr. N.
S. Sridhar |
|
Designation : |
Director |
|
Address : |
2-B,
Sahajeevan Apartments, 219, Rajmahal Extension, Bangalore-560080, Karnataka,
India |
|
Date of Birth/Age : |
16.09.1942 |
|
Date of Appointment : |
16.07.1997 |
|
|
|
|
Name : |
Mr. G.
K. R. Subramanian |
|
Designation : |
Director |
|
Address : |
118, 7
Cross, 6-C Main, HMT Layout, R. T. Nagar Post, Bangalore-560032, Karnataka,
India |
|
Date of Birth/Age : |
04.07.1952 |
|
Date of Appointment : |
16.07.1997 |
|
|
|
|
Name : |
Mr. R.
Venkataraman |
|
Designation : |
Director |
|
Address : |
Plot
39, 6th Cross Street, Lakshmi Nagar, Porur, Chennai-800116,
Tamilnadu, India |
|
Date of Birth/Age : |
30.06.1942 |
|
Date of Appointment : |
20.02.1997 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Rajagopalan Venkataraman |
187 |
|
Mr.
Sornam Mani |
625 |
|
Mr.
Sridhar Sitharam Navankere |
272 |
|
Mr.
Subramanian Kalyana Rama Gopalkrishna |
2710 |
|
Starfin
Project Services Private Limited |
2687 |
|
Mrs.
Padma Subramanian |
685 |
|
Mr.
Shiva Shankaraiah Chandriah |
181 |
|
Mrs.
Usha Raani G.N. |
61 |
|
Mr.Subbanna
Chancraiah |
30 |
|
Mr. B.
Nath |
114 |
|
Mr.
Ayub Jaffer |
372 |
|
Mrs.
Padma Venkataraman |
46 |
|
Mr.
Bharath Kumar Venkataraman |
50 |
BUSINESS DETAILS
|
Line of Business : |
Service
activities related to Electro Phoretic Paintings |
|
|
|
|
Products : |
Electrophoretic
Printing |
GENERAL
INFORMATION
|
Bankers : |
State
Bank of India, Bangalore Commercial Branch, Krishi Bhavan, Hudson Circle,
Bangalore-560001 |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
C. V.
Ramaswamy & Company Chartered
Accountants, Karnataka |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
8000 |
Equity
Shares |
Rs.1000/- each |
Rs.8.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
8000 |
Equity
Shares |
Rs.1000/- each |
Rs.8.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
8.000 |
8.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
40.245 |
26.951 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
48.245 |
34.951 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
17.417 |
17.823 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
17.417 |
17.823 |
|
|
DEFERRED TAX LIABILITIES |
|
5.847 |
5.241 |
|
|
|
|
|
|
|
|
TOTAL |
|
71.509 |
58.015 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
51.543 |
42.797 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.007 |
0.007 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2.239 |
2.566 |
|
|
Sundry Debtors |
|
18.996 |
13.609 |
|
|
Cash & Bank Balances |
|
2.119 |
2.538 |
|
|
Interest Accrued |
|
0.234 |
0.082 |
|
|
Loans & Advances |
|
4.739 |
3.019 |
|
Total Current Assets |
|
28.327 |
21.814 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
8.374 |
6.611 |
|
|
Provisions |
|
|
|
|
Total Current Liabilities |
|
8.374 |
6.611 |
|
|
Net Current Assets |
|
19.953 |
15.203 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.006 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
|
71.509 |
58.015 |
|
%20PRIVATE%20LIMITED%2008-Jan-2007_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%2008-Jan-2007_files/image004.gif){kind=small}
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
88.559 |
69.703 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
22.231 |
17.157 |
|
Provision
for Taxation |
|
5.127 |
3.512 |
|
Profit/(Loss)
After Tax |
|
17.104 |
13.645 |
|
|
|
|
|
|
Total
Expenditure |
|
66.328 |
52.546 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
19.31 |
19.57 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
25.10 |
24.61 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
27.83 |
26.55 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.46 |
0.49 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
0.53 |
0.70 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
3.38 |
3.30 |
LOCAL AGENCY
FURTHER INFORMATION
Form
8 Particular for creation or modification of charges
|
Name of the company |
PHOROTECH
SURFIN (INDIA) PRIVATE LIMITED |
|
Presented By |
State Bank
of India, Bangalore Commercial Branch, Krishi Bhavan, Hudson Circle,
Bangalore-560001 and Phorotech Surfin (India)
Private Limited |
|
1) Date and description of instrument creating the change |
Date : 14.10.1998 (14th day of October,98). General Agreement for the grant of SIA and Hypothecation of Movables, Book Debts and other Assets. Extension of Equitable Mortgage by Deposit of Title Deeds – Letter confirming Deposit of Title Deeds – From ‘B’ enclosed. (Both the above pertain to same charge) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.000 millions (C.C. Book Debts – Rs.4.000 millions and C.C. Stocks – Rs.1.000 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 |
All present and future Goods, Book Debts, Moveable and Other Assets of the Borrower including Documents of Title to Goods and Other Assets such as Outstanding Moneys, Receivables, Claims, Bills, Invoices, Documents and Securities, Contracts, Engagements, Investments, Rights and the existing Machinery and all future Machinery belonging to or in possession of or under the control of the Borrower wherever lying stored and kept and whether in possession of the Borrower or of the Bank or of any third party whether in India or elsewhere throughout world (including all such goods, machineries, movables and other assets as may be in course of shipment, transit of delivery) by way of FIRST CHARGE. Equitable Mortgage of Company’s Immovable Properties comprising Land, Building, Structures situated at Survey No.329/1A measuring 1.24 Acres and 329/18 North to South measuring 0.62 Cents each in the village 24, Godappakkamn, Poonamalle Taluka, Tiruvallur District. Which is already deposited to the Bank on 11.04.1998 will be continued for this limit also. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest : 2.75% over SBAR with a minimum of 15.75% per annum plus Interest Tax, Effective Rate 16.06% per annum with quarterly rests. Margin : 25% Repayment : On Demand |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India Bangalore Commercial Branch Krishi Bhavan, Hudson Circle Bangalore-560001. (A Banking Company) |
|
6) Date and brief description of instrument modifying the charge |
Date : 14.07.2005 (14th day of July, 2005). Equitable Mortgage by Deposit of Title Deeds – Letter confirming Deposit of Title Deeds – Form ‘A’ – enclosed. |
|
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. |
By the above, the company has provided the security of its immovable properties All that piece and parcel of land, building, structures, other fixed machineries etc. situate at Plot No.F.35 and F.36, SIPCOT Industrial Park, Irungattukottai, Sriperumbudur, Tamilnadu measuring 100Mts * 81Mts. As additional security covering the credit facilities to the extent of Rs.58.200 millions by way of FIRST CHARGE. (All other terms and conditions remain unchanged) |
|
Name of the company |
PHOROTECH
SURFIN (INDIA) PRIVATE LIMITED |
|
Presented By |
State Bank
of India, Bangalore Commercial Branch, Krishi Bhavan, Hudson Circle, Bangalore-560001
and Phorotech Surfin (India) Private Limited |
|
1) Date and description of instrument creating the change |
Date : 18.10.2002 (18th day of October, 2002). Agreement of Hypothecation of Goods and Assets. Form C-2. Letter regarding the grant of individual limits within the overall Limit. Form C-5. Hypothecation of Machinery Letter. (All the above pertain to same charge) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.11.800 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 all present and future Goods, Book Debts and all other Moveable Assets of the Borrower including Documents of Title to Goods , Outstanding Moneys, Receivables including receivables by way of cash assistance and/or cash incentives under the cash incentive scheme of any other scheme, Claims including claims by way of refund of customs/excise duties under the duty draw back credit scheme or any other scheme, Bills, Invoices, Documents, Contracts, Insurance Policies, Guarantees, Engagements, Securities, Investments, Rights and Pledge/Hypothecation of the present Machinery listed in the schedule hereunto and all future Machinery belonging to or in possession of or under the control of the Borrower wherever lying stored and kept and whether in possession of the Borrower or of the Bank or of any third party whether in India or elsewhere throughout world including all such goods, machineries, movables and other assets as may be in course of shipment, transit of delivery, by way of FIRST CHARGE. Plant and Machinery situated at Bangalore Unit consisting of 28 Items and at Chennai Unit consisting of 30 Items as per list attached to the Agreement. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest : 1.75% Above SBMTLR; Effective Rate 13.25% per annum with monthly rests. Margin : 25% on Plant and Machinery Repayment : 15 Quarterly Instalment of Rs.0.698 millions commencing from March, 2004. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India Bangalore Commercial Branch Krishi Bhavan, Hudson Circle Bangalore-560001. (A Banking Company) |
|
6) Date and brief description of instrument modifying the charge |
Date : 14.07.2005 (14th day of July, 2005). Equitable Mortgage by Deposit of Title Deeds – Letter confirming Deposit of Title Deeds – Form ‘A’ – enclosed. |
|
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. |
By the above, the company has provided the security of its immovable properties All that piece and parcel of land, building, structures, other fixed machineries etc. situate at Plot No.F.35 and F.36, SIPCOT Industrial Park, Irungattukottai, Sriperumbudur, Tamilnadu measuring 100Mts * 81Mts. as additional security covering the credit facilities to the extent of Rs.7.800 millions (Limit Rs.11.800 millions) by way of FIRST CHARGE. (All other terms and conditions remain unchanged) |
|
Name of the company |
PHOROTECH
SURFIN (INDIA) PRIVATE LIMITED |
|
Presented By |
State Bank
of India, Bangalore Commercial Branch, Krishi Bhavan, Hudson Circle, Bangalore-560001
and Phorotech Surfin (India) Private Limited |
|
1) Date and description of instrument creating the change |
Date : 14.10.1998 (14th day of October,98). General Agreement for grant of SIA and Hypothecation of Movables, Book Debts and other Assets. Extension of Equitable Mortgage by Deposit of Title Deeds- Letter confirming Deposit of Title Deeds – From ‘B’ enclosed. (Both the above pertain to same charge) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.000 millions (C.C. Book Debts – Rs.4.000 millions and C.C. Stocks – Rs.1.000 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 |
All present and future Goods, Book Debts, Moveable and Other Assets of the Borrower including Documents of Title to Goods and Other Assets such as Outstanding Moneys, Receivables, Claims, Bills, Invoices, Documents and Securities, Contracts, Engagements, Investments, Rights and the existing Machinery and all future Machinery belonging to or in possession of or under the control of the Borrower wherever lying stored and kept and whether in possession of the Borrower or of the Bank or of any third party whether in India or elsewhere throughout world (including all such goods, machineries, movables and other assets as may be in course of shipment, transit of delivery) by way of FIRST CHARGE. Equitable Mortgage of Company’s Immovable Properties comprising Land, Building, Structures situated at Survey No.329/1A measuring 1.24 Acres and 329/18 North to South measuring 0.62 Cents each in the village 24, Godappakkamn, Poonamalle Taluka, Tiruvallur District. Which is already deposited to the Bank on 11.04.1998 will be continued for this limit also. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest : 2.75% over SBAR with a minimum of 15.75% per annum plus Interest Tax, Effective Rate 16.06% per annum with quarterly rests. Margin : 25% Repayment : On Demand |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India Bangalore Commercial Branch Krishi Bhavan, Hudson Circle Bangalore-560001. (A Banking Company) |
|
6) Date and brief description of instrument modifying the charge |
Date : 13.04.2004 (13th day of April, 2004). Extension of Equitable Mortgage by Deposit of Title Deeds – Letter confirming Deposit of Title Deeds – Form ‘B’ – enclosed. |
|
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. |
By the above the company has extended the security of its immovable properties at No.24, Survey No.329/1A and Y No.329/1B, Goodapakkam Village, Puduchatram Post, via Thirumalisai, Chennai-602107 already obtained to cover the credit limit of Rs.16.000 millions. (C.C. Sts – Rs.1.000 millions, C.C. Rec – Rs.9.000 millions, TL – Rs.6.000 millions) |
|
Name of the company |
PHOROTECH
SURFIN (INDIA) PRIVATE LIMITED |
|
Presented By |
State Bank
of India, Bangalore Commercial Branch, Krishi Bhavan, Hudson Circle,
Bangalore-560001 and Phorotech Surfin (India)
Private Limited |
|
1) Date and description of instrument creating the change |
Date : 18.10.2002 (18th day of October, 2002). Agreement of Hypothecation of Goods and Assets. Form C-2. Letter regarding the grant of individual limits within the overall Limit. Form C-5. Hypothecation of Machinery Letter. (All the above pertain to same charge) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.11.800 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 all present and future Goods, Book Debts and all other Moveable Assets of the Borrower including Documents of Title to Goods , Outstanding Moneys, Receivables including receivables by way of cash assistance and/or cash incentives under the cash incentive scheme of any other scheme, Claims including claims by way of refund of customs/excise duties under the duty draw back credit scheme or any other scheme, Bills, Invoices, Documents, Contracts, Insurance Policies, Guarantees, Engagements, Securities, Investments, Rights and Pledge/Hypothecation of the present Machinery listed in the schedule hereunto and all future Machinery belonging to or in possession of or under the control of the Borrower wherever lying stored and kept and whether in possession of the Borrower or of the Bank or of any third party whether in India or elsewhere throughout world including all such goods, machineries, movables and other assets as may be in course of shipment, transit of delivery, by way of FIRST CHARGE. Plant and Machinery situated at Bangalore Unit consisting of 28 Items and at Chennai Unit consisting of 30 Items as per list attached to the Agreement. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest : 1.75% Above SBMTLR; Effective Rate 13.25% per annum with monthly rests. Margin : 25% on Plant and Machinery Repayment : 15 Quarterly Instalment of Rs.0.698 millions commencing from March, 2004. |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India Bangalore Commercial Branch Krishi Bhavan, Hudson Circle Bangalore-560001. (A Banking Company) |
|
6) Date and brief description of instrument modifying the charge |
Date : 19.03.2003 (19th day of March, 2003). Extension of Equitable Mortgage by Deposit of Title Deeds – Letter confirming Deposit of Title Deeds –enclosed. |
|
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. |
By the above the company has extended the security of its immovable properties comprising Land, Building, Structures situated at Survey No.329/1A measuring 1.24 Acres and 329/1B, Goodapakkam Village, Puduchatram Post, via Thirumalisai, Chennai-602107 to cover the credit facilities of Rs.11.800 millions by way of FIRST CHARGE already provided to other limits. (All other terms and conditions remain unchanged) |
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.30 |
|
UK
Pound |
1 |
Rs.85.83 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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 |
|