MIRA
INFORM REPORT
|
Report Date : |
10.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
LUCID
COLLOIDS LIMITED |
|
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Registered Office : |
401 A, Navbharat Estate, Zakaria Bunder
Compound, Sewri (West), Mumbai 400 015 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
23.05.1996 |
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Com. Reg. No.: |
11-099800 |
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CIN No.: [Company
Identification No.] |
U24311MH1996PLC099800 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUML04395G |
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|
PAN No.: [Permanent
Account No.] |
AAACL2673B |
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|
Legal Form : |
A
closely held public limited liability company |
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Line of Business : |
Manufacturing,
Marketing and Distribution of Guar Gum and Allied Hydrocolloid Gums. |
RATING & COMMENTS
|
MIRAs 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
1000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is the flagship company of Lucid Group engaged in manufacturing and marketing
of Gaur Gum and allied hydro-colloid gums.
The company is making good progress in its business and
profitability. Its trade relations
are fair. Payments are usually
correct and as per commitments. It can
be considered normal for business dealings at usual trade terms and
conditions |
LOCATIONS
|
Registered/Corporate Office : |
401 A, Navbharat Estate, Zakaria Bunder
Compound, Sewri (West), Mumbai 400 015 |
|
Tel. No.: |
91-22-24158059 |
|
Fax No.: |
91-22-24158074 / 75 |
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E-Mail : |
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Website : |
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Factory
1 : |
B 517,
Marudhar Industrial Area, Basni, Jodhpur 342 005, Rajasthan |
|
Tel.
No.: |
91-291-2740213 |
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Fax
No.: |
91-291-2740398 |
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|
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Sales
Offices |
595, Pocket E, Mayur Vihar, Phase II, New Delhi 110 091 Tel No. 91-11-22781087 Mobile : 98102 37860 E Mail : luciddel@lucidgroup.com 1252/19, P. M. Laxmiah Layout, Opp. Raheja Park Apartments, Magadi
Road, Chord Road, Vijay Nagar, Bangalore 560 040, Karnataka Tel. No. 91-80-23109120 Mobile No. 98441 53256 E Mail : lucidban@lucidgroup.com A/220, Popular Plaza, Someshwar Complex 1, Satellite Road, Ahmedabad
380 015, Gujarat Tel No. : 91-79-26775494 Mobile No. : 98241 13077 E Mail : lucidahm@lucidgroup.com |
DIRECTORS
|
Name : |
Mr.
Uday C. Merchant |
|
Designation : |
Managing Director |
|
Address : |
9A, Suraj Apartments, 68, F. L.
Jagmohandas Marg, Mumbai 400 006 |
|
Date of Birth/Age : |
26.11.1958 |
|
Date of Appointment : |
23.05.1996 |
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|
|
|
Name : |
Mrs.
Shailaja U. Merchant |
|
Designation : |
Executive Director |
|
Address : |
9A, Suraj Apartments, 68, F. L.
Jagmohandas Marg, Mumbai 400 006 |
|
Date of Birth/Age : |
19.11.1958 |
|
Date of Appointment : |
23.05.1996 |
|
|
|
|
Name : |
Mr.
Marezban P. Bharucha |
|
Designation : |
Director |
|
Address : |
7/E, Harbour Heights A, N. A. Sawant
Road, Colaba, Mumbai 400 005 |
|
Date of Birth/Age : |
29.10.1948 |
|
Date of Appointment : |
15.03.2000 |
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|
|
|
Name : |
Mrs.
Anima B. Kapadia |
|
Designation : |
Director |
|
Address : |
Gita, B Wing, Flat No. 68, 8th
Floor, Pandita Ramabai Road, Gamdevi, Mumbai 400 007 |
|
Date of Birth/Age : |
04.07.1951 |
|
Date of Appointment : |
15.03.2000 |
|
|
|
|
Name : |
Mr.
Sudhir G. Kulkarni |
|
Designation : |
Director
|
|
Address : |
2/3,
Ellora Cooperative Housing Society, Vishnu Nagar, Dombivli (West) , Thane 421201 |
|
Date of Birth/Age : |
03.08.1951 |
|
Date of Appointment : |
12.06.2003 |
|
|
|
|
Name : |
Mr.
Bharat S. Parikh |
|
Designation : |
Director
|
|
Address : |
A/7,
Neelkanth Jyot, Plot No. 168, 90 Feet Road, Garodianagar, Ghatkoper (East),
Mumbai 400101 |
|
Date of Birth/Age : |
22.11.1949 |
|
Date of Appointment : |
12.06.2003 |
|
|
|
|
Name : |
Mr.
Nikunj C Dhuldhoya |
|
Designation : |
Director
|
|
Address : |
22,
Amit Tata Cooperative Housing Society Limited, 1104 Murari Ghag Marg,
Prabhadevi, Mumbai 400025 |
|
Date of Birth/Age : |
12.11.1948 |
|
Date of Appointment : |
12.06.2003 |
KEY EXECUTIVES
|
Name
: |
Mr.
Shyam L. Bhadada |
|
Designation
: |
Secretary |
|
Address
: |
21/602, Sanskruti Building, Thakur
Complex, Kandivali (East), Mumbai 400 101 |
|
Date
of Birth/Age : |
16.11.1955 |
|
Date
of Appointment : |
12.06.2003 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Uday C. Merchant |
848181 |
|
Mrs.
Shailaja U. Merchant |
398529 |
|
M/s.
Lucid Technologies Private Limited |
1 |
|
M/s.
Lucid Flavitalia Private Limited |
1 |
|
M/s.
Visa Holdings Private Limited |
2785501 |
|
Mrs.
Shailaja U. Merchant |
991 |
|
Mr.
Uday C. Merchant S/o Mr. Chaturbhuj G
Merchant |
1679400 |
|
Mr.
Uday C. Merchant & Mrs. Shailaja U. Merchant |
201380 |
|
Mrs.
Shailaja Merchant & Mr. Uday C. Merchant |
444400 |
|
Mr.
Kunal U. Merchant |
1183950 |
|
Ms.
Paolomi U. Merchant |
273600 |
|
Mrs.
Sushila C. Merchant & Mr. Uday C. Merchant |
55000 |
|
Mrs.
Dhruti A. Vashi |
1 |
|
Mr.
Uday C. Merchant (HUF) |
1 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing,
Marketing and Distribution of Guar Gum and Allied Hydrocolloid Gums. |
GENERAL
INFORMATION
|
No. of Employees : |
250 |
|
|
|
|
Bankers : |
Bank
of Baroda, Industrial Business Branch, Nariman Point, Mumbai 400 |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
Satisfactory |
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|
|
|
Auditors : |
Kalyaniwalla
& Mistry Chartered
Accountants |
|
Address: |
Kalpataru
Heritage, 127, M. G. Road, Mumbai 400 023 |
|
Tel. No.: |
91-22-56347640 |
|
|
|
|
Associates/Subsidiaries : |
Ψ
Lucid
Flavitalia Private Limited It manufactures and distributes flavours
and flavour pastes. The manufacturing
facilities are located at Jodhpur. Ψ
Lucid
Technologies Private Limited It offers consultancy, troble-shooting,
project consultancy and other services to the food processing industry in
India. Ψ
Visa
Holdings Private Limited Ψ
Taiyo
Lucid Private Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 100.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
7875000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 78.750 Milions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
78.750 |
78.750 |
78.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
252.770 |
258.152 |
257.800 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
331.520 |
336.902 |
336.600 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
297.905 |
271.906 |
236.400 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
297.905 |
271.906 |
236.400 |
|
|
DEFERRED TAX LIABILITIES |
10.380 |
4.479 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
639.805 |
613.287 |
573.000 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
141.771 |
141.712 |
140.300 |
|
|
Capital work-in-progress |
2.979 |
5.751 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
80.000 |
80.000 |
68.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
180.921
|
129.469 |
146.000 |
|
|
Sundry Debtors |
243.092
|
240.377 |
236.500 |
|
|
Cash & Bank Balances |
39.458
|
7.381 |
24.800 |
|
|
Other Current Assets |
51.408
|
7.154 |
0.000 |
|
|
Loans & Advances |
78.267
|
59.303 |
53.600 |
|
Total Current Assets |
593.146
|
443.684 |
460.900 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
137.510
|
30.840 |
70.000 |
|
|
Provisions |
40.581
|
27.020 |
26.300 |
|
Total Current Liabilities |
178.091
|
57.860 |
96.300 |
|
|
Net Current Assets |
415.055
|
385.824 |
364.600 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.100 |
|
|
|
|
|
|
|
|
TOTAL |
639.805 |
613.287 |
573.000 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
715.220 |
869.834 |
613.000 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
13.736 |
70.433 |
(5.200) |
|
Provision
for Taxation |
7.894 |
(3.667) |
0.700 |
|
Profit/(Loss)
After Tax |
5.842 |
74.100 |
(5.900) |
|
|
|
|
|
|
Total
Expenditure |
701.484 |
799.401 |
611.200 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
0.81
|
8.51 |
(0.84) |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
1.92
|
8.09 |
(0.84) |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
1.86
|
12.03 |
(0.86) |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.20 |
(0.01) |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
1.43
|
0.97 |
0.98 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
3.33
|
7.66 |
4.78 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
Subject
was incorporated on 23rd May, 1996 at Mumbai in Maharashtra having
Company Registration Number 99800.
The
Lucid group is engaged primarily in manufacture, marketing and distribution of
natural, modified and derivatised hydrocolloids for food pharmaceutical and
industrial applications, hydrocolloid and emulsifier blends, food stabiliser
systems, nutritional ingredients, flavours, flavour pastes, food additives and
ingredients, fine chemicals and consultancy for the food industry.
The
erstwhile Indian Gum Industries Limited whose Jodhpur Business division was
transferred as a going concern to the company, in 1999, it not only
consolidated but also expanded its operations and activities. Indian Gum Industries Limited (IGI) was
established in 1958 in financial and technical collaboration with Cesalpinia
S.p.A. of Italy and then later with Hercules Inc. of USA. In 1987, IGI became a fully Indian owned and
managed company.
BUSINESS
Subject
is engaged in manufacturing of guar gum and allied hydrocolloid gums.
Subject
is the flagship enterprise which is involved in manufacture, marketing and
distribution of natural, modified and derivatised hydrocolloids, gum blends,
emulsifiers, food stabiliser systems, fibres, food additives, ingredients and
fine chemicals.
infrastructure
:
The Lucid group has following facilities :
Ψ
State of the Art manufacturing facilities on 24000 mt2 AT
Jodhpur, Rajasthan.
Ψ
A proud and dedicated workforce and Agent / Distributor network.
Ψ
Computerized, PLC based production system.
Ψ
4.5 million Kilo calories per hour energy generation
Ψ
2.7 MVA in-house Prime Power generation capabilities.
Ψ
In-House engineering
Ψ
Modern Quality control, microbiological, R & d and Application Labs
Ψ
Fully equipped state of the art Pilot Plant
Ψ
Modern Corporate Offices in Mumbai
Ψ
Process water treatment, filtration, reverse osmosis, heat
sterilization. Effluent treatment and
solvent recovery systems.
The company has joint venture with Taiyo Lucid Private Limited (TLPL)
and CBC Company Limited.
The
companys fixed assets of important value include leasehold land, buildings,
plant & machinery, office equipments, computers, furniture & fixtures
and vehicles
|
Name
of the company |
LUCID
COLLOIDS LIMITED |
|
Presented
by |
Bank
of Baroda, Industrial Business Branch, Nariman Point, Mumbai 400 |
|
Date
and Description of the instrument creating charge |
06.02.2006 Memorandum
of Entry |
|
Amount
Secured by the charge or amount owing on security of the charge |
Rs.
299.700 Millions |
|
Short
particulars of the property charged if property acquired is subject to charge
date of acquisition of property should be given |
Immovable
Properties |
|
List
of the terms and conditions and extent & operation of charge Margin 25% Rate
of Interst |
Nature
of Facility Term
Loan Rs. 22.200 Millions PC/PCFC
CUM FBP Rs. 262.500 Millions Inland/Import
Letter of Credit Rs. 5.000 Millions Inland
Bank Guarantee Rs. 10.000 Millions |
|
Name,
address and description of the person entitled to charge |
Bank
of Baroda, Industrial Business Branch, Nariman Point, Mumbai 400 |
|
Date
and brief of the description of instrument modifying the charge |
Not
Applicable |
|
Particulars
of modification the terms, conditions the extent or operation of the charge
in which modification |
Not
Applicable |
AS PER WEBSITE DETAILS
Company Profile
The Lucid Group manufactures markets and distributes natural, modified and derivatised hydrocolloids, gum blends, emulsifiers, food stabiliser systems, nutritional ingredients, food additives and ingredients, foodstuffs, agro commodities and fine chemicals.
The Lucid Group manufactures markets and distributes natural, modified and derivatised hydrocolloids, gum blends, emulsifiers, food stabiliser systems, nutritional ingredients, food additives and ingredients, foodstuffs, agro commodities and fine chemicals.
The Lucid Group consists of
- Lucid Colloids
Limited.
- Taiyo Lucid
Private Limited.
- Lucid Flavitalia
Private Limited.
- Lucid Agro
Private Limited
Lucid has production sites at Jodhpur, (Rajasthan) and Aurangabad, (Maharashtra). Lucid's strong thrust on Research, Design, Development and Applications Technology, has enabled the flagship company - Lucid Colloids Limited. to achieve ISO 9001, ISO 14001, HACCP and FPA-SAFE certifications whereas Taiyo Lucid has ISO 9001, HACCP and AIB (Superior) certification
Taiyo Lucid Private Limited. is a Joint Venture between Lucid, Taiyo Kagaku Co. Limited (Japan) and CBC Co. Limited. (Japan) and manufactures water soluble dietary fibres.
Lucid Flavitalia Private Limited. is engaged in food ingredients, additives, food dispensing systems, and foodstuff.
Lucid Agro Private Limited.
is involved with Agri Research and Agro Commodities.
Delighting their
customers with the quality and consistency of their products and services,
being innovative and proactive, maintaining a leadership position and
committing the necessary resources to Research & Development are values
that are enshrined in Lucid's Mission Statement and Quality Policy and Objectives.
A combined senior executive level experience of 200 man years in hydrocolloid
production, chemistry, application and technology, strategic partnerships and
alliances for manufacture, distribution and marketing and a wide customer reach
through its own offices and a worldwide network of agents and distributors has
enabled Lucid to establish itself as a premier supplier of repute.
Their greatest asset is their skilled, knowledgeable and experienced Human
Resources. Combined with state-of-the-art production facilities, Quality
Assurance Laboratories, Research, Development and Applications Centre, Pilot
Plants and a substantial knowledge pool, Lucid is able to offer the optimum
products, services, solutions and technology to its vast and growing worldwide
customer base.
Administration, marketing and logistics are centrally controlled from Lucid's
Head Office in Mumbai - India's premier business city. With agents and
distributors in over twenty countries covering over thirty territories and
Sales Offices in India, Lucid can effectively deliver product to most
destinations and countries the world over.
Products
Hydrocolloids and Gums
Seed
Gums:
Guar Gum and its
derivatives.
A cold and hot water soluble
polymer, classified as a galactomannan polysaccharide, extracted from Guar
(Cyamopsis Tetragonoloba) seeds.
Sesbania Gum and its
derivatives.
A cold and hot water soluble
polymer, classified as a galactomannan polysaccharide, extracted from Sesbania
(Sesbania Aculeata) seeds.
Cassia Gum and its derivatives.
A hot water soluble polymer,
extracted from Cassia (Cassia Tora) seeds.
Tamarind Gum and its
derivatives.
A hot water soluble polymer.
Contains d-glucopyranosyl, d-xylopyronosyl, d-galactopyranosyl and
l-arabinofuranosyl sugars, extracted from Tamarind (Tamarindus
Indicus)seeds.
Locust Bean Gum.
A hot water soluble polymer,
classified as a galactomannan polysaccharide, extracted from Locust Bean
(Ceratonia Siliqua)seeds.
Cellulose Gums:
Carboxymethyl Cellulose its salts and its
derivatives
Usually available as the Sodium Salt. Manufactured by making cellulosic
material soluble in water. Sodium CMC is a cold and hot water soluble polymer.
Bio-fermented Gums:
Xanthan Gum
Obtained by a bio-fermentation process using bacterium Xanthomonas Campestris.
Seaweed Extracts:
Carrageenan
A hydrophillic colloid extracted from red seaweeds - mainly Eucheuma, Chondrus,
Gigartina, sub-classified as Kapa, Lambda and Iota carrageenans.
Fruit Extracts:
Pectins
Extracted from citrus
fruit peels, apple, beet etc. Usually classified as High methoxy, low methoxy
and amidated pectins.
News
Dec 06, 2006
Lucid sponsors Lifetime Achievement Award
Lucid Colloids Limited., in collaboration with the Association of Carbohydrate Chemists and Technologists of India (ACCTI) conferred a Lifetime Achievement Award on Prof. H.C. Trivedi, Vice Chancellor, Bhavnagar University for his outstanding contribution to Carbohydrate research over a lifetime.
Prof Trivedi was felicitated at the ACCTI sponsored Carbo XXI Conference,
University of Delhi, on 27th
November, 2006.
The award carried a momento and a sum of Rs. 25,000
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 Intl 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
companys 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.44.47 |
|
UK
Pound |
1 |
Rs.86.40 |
|
Euro |
1 |
Rs.57.99 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
9 |
|
--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 |
|
52 |
This score serves as a reference to assess SCs 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 |
|