MIRA
INFORM REPORT
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Report Date : |
20.01.2007 |
IDENTIFICATION DETAILS
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Name : |
R R
ENTERPRISES |
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Registered Office : |
281/A,
Devkaran Nivas, Ground Floor, Samuel Street, Vadgadi – 400003, Mumbai,
Maharashtra, India |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Com. Reg. No.: |
27020000325
Dt.01.04.2006 |
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Date of Incorporation : |
February
1989 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR08023B |
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Legal Form : |
Partnership
concern with an unlimited liability of all the partners. |
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Line of Business : |
Subject
acts as importers and traders of caustic soda flaks, caustic soda prills and
caustic soda lye. |
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 : |
USD
100000 |
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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 concern having satisfactory track records.
Trade relations are fair. Financial position is satisfactory. Banking
relations are good. The
concern is doing well. It can
be considered good for any normal business dealings at usual trade terms and
conditions. This
report was based on an interview with Mr Rajan Gadhia (91-9820303034) |
LOCATIONS
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Registered Office : |
281/A,
Devkaran Nivas, Ground Floor, Samuel Street, Vadgadi – 400003, Mumbai,
Maharashtra, India |
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Tel. No.: |
91-22-23432409
/ 56313380 / 3414670 |
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Mobile no. |
91-9820303034
(Rajan Gadhia) |
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Fax No.: |
91-22-23439038 |
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Website : |
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Admin Office : |
B/7, 2nd
Floor, Juhu Vimal, Juhu Lane, Andheri(West), Mumbai – 400058, |
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Tel. No.: |
91-22-26212020 |
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Mobile No.: |
91-9820303034 |
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Fax No.: |
91-22-26212010/11 |
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E-Mail: |
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Website : |
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Area : |
600
Sq. ft. |
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Location : |
Owned |
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Branch : |
Flat
No.4, Ground Floor, Padma Apartment, Paigah Colony, Secunderabad-400003, |
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Tel. No.: |
91-40-66493360/
3370 |
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Mobile No.: |
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Fax No.: |
91-40-66493360 |
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E-Mail: |
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Location : |
Rented |
PARTNERS
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Name : |
Mr
Rajan Gadhia |
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Designation : |
Partner |
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Address : |
A-C
105, 1st Floor, New Sunder Park, Off Veera Desi Road, Andhrei
(West), Mumbai-400058 |
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Date of Birth/Age : |
15.10.1970 |
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Qualification : |
B.Com. |
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Experience : |
20
years |
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Name : |
Mr
Anand Gadhia |
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Designation : |
Parner |
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Address : |
Pam
Apartment Co.op. Hsg. Society, Flat No.3, |
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Date of Birth/Age : |
01.08.1975 |
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Qualification : |
B.Com. |
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Experience : |
16
years |
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Name : |
Mr
Mahesh R. Gadhia |
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Designation : |
Parner |
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Address : |
A-403,
4th Floor, New |
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Qualification : |
D.I.E.C. |
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Date of Birth/Age : |
06.09.1972 |
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Experience : |
18
years |
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Name : |
Mrs
Radhika Rajan Gadhia |
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Designation : |
Partner
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Address : |
A-C
105, 1st Floor, New Sunder Park, Off Vera Desai Road, Andheri (West),
Mumbai-400058 |
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Qualification : |
B.Com. |
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Date of Birth/Age : |
28.08.1968 |
BUSINESS DETAILS
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Line of Business : |
Subject
acts as importers and traders of caustic soda flaks, caustic soda prills and caustic
soda lye. |
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Products : |
Chemicals Company
deals in High Quality Chemicals They
have charged an impressive growth chart by constantly providing Quality
products that meet stringent demands of its customers They
strive to be the most innovative and reliable suppliers and will continue to
do so in the future. They
look forward to work with customers on a long-term business relationship
through a transparent and committed interaction. Solvents They
deal in High Quality Solvents. They
have charged an impressive growth chart by constantly providing Quality
products that meet stringent demands of its customers They
strive to be the most innovative and reliable supplier’s and will continue
to do so in the future. They
look forward to work with customers on a long-term business relationship
through a transparent and committed interaction Bulk Drugs They have charged an impressive growth chart by constantly providing
Quality products that meet stringent demands of its customers They strive to be the most innovative and reliable suppliers and will
continue to do so in the future. They look forward to work with customers on a long-term business
relationship through a transparent and committed interaction. |
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Agencies Held : |
The
concern is an authorised agents for:
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Exports to : |
China,
Taiwan, Hamburg, Canada, Argentina, Russia, Japan, Chile, Hong Kong, Korea,
Turkey, Thailand, Germany, Finland, Israel. |
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Imports from : |
Imports
DMS (Chemicals), Trychloro Extra T. C. E., M. D. C. Formic Acid, Chloroform,
Sodium Nitrite, Sodium Nitrate, Soda Ash from |
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Terms : |
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Selling : |
L/C
and Credit (30/60 days) |
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Purchasing : |
L/C
and Credit (30/60 days) |
GENERAL INFORMATION
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Customers : |
Retailers
and End Users |
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No. of Employees : |
21 |
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Bankers : |
Tamilnad
Mercantile Bank Limited 101-104,
Kazi Sayed Street, 1st Floor, Goradia House, Mandvi, Mumbai-400003 |
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Facilities : |
The
concern enjoys substantial cash credit and letter of credit facility from the
bankers. |
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Banking Relations : |
Good |
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Auditors : |
Vyas
& Joshi Chartered
Accountants |
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Address : |
445/451,
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Tel. No.: |
91-22-22012440 |
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Fax No.: |
91-22-22072865 |
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E-Mail : |
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Sister Concern: |
B-7, 2nd Floor, Juhu Vimal
Apartment, Line of Business : Importers and traders
of caustic soda flaks, caustic soda prills and caustic soda lye.
281/A, Devkaran Nivas, Ground Floor, Samuel Street, Vadgadi – 400003,
Mumbai, Maharashtra, India Business : Acts as manufacturer of
chemicals |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.13.136
Millions |
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Borrowed : |
Rs.11.183
Millions |
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Total : |
Rs.24.320
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
1138.000 |
928.000 |
602.000 |
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Profit/Loss for the year |
2.500 |
2.500 |
1.600 |
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Import Value |
78.000 |
66.600 |
86.900 |
Expected sales turnover for the year ending
31.03.2007 – Rs.1346.400 millions
LOCAL AGENCY FURTHER INFORMATION
Company Profile
Subject is a dealer of Solvents, Chemicals, and Specialty Chemicals etc.
Started in 1989, the company is continuously rising on the growth chart and
setting very high quality standards.
Their strict
emphasis on quality service and products is combined with the latest technology
to offer their customers a competitive edge.
Since its
inception, the company has established a reputation for itself as a supplier of
quality products and quality service. they focus on quality and aim to achieve
total customer satisfaction, both in the products we offer and in the service
that follows.
Their highest
priority is on customizing their products. they are committed to provide what
their customer wants and they provide quality and consistency at the best
value.
Trade Terms
Subject
is in Trade Terms with ICI U K Limited, U K
Trade References :
Ø
Sinochem
Ø
Daqing Huake Company Limited
Ø
China Steel Chemical Corporation
Ø
Jebson & Jessen (GMBH & Company) KG
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GT Pharma Inc.
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Minera Santa Rita S.R.L.
Ø
Ø
Xinjing Tinye Foreign Trade Company Limited
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Trigon Gulf FZCO
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FRP Services and Company
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Cosyach Nitros
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Hualong Ammonium Nitrate Company Limited
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Texpo International Limited
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Jiangsu Meilan Chemical Company Limited
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Dormex Trade and Investments Company Limited
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Sojitz (
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Wistema GMBH Industries
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Samsung Corporation (Fine Chemical Team)
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Shandong Shida Shenghua Pharmaceutical Company Limited
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Panjin Hengchanglong Pharmaceutical Company Limited
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Levachem Company Limited
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Katera Company Limited
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Kemira Oyj Performance Chemicals
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Guangdong Zhongcheng Chemical Inc. Limited
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Hidrojen Peroksit
Ø
Ø
Milman Limited
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Zhangiagang Hengchang Import and Export Company Limited
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Inner Mangolia Lantai Import and Export Company Limited
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Tianjian Soda Plant
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Vinmar International Limited
Ø
Amparo Overseas FZE
CMT REPORT [Corruption, Money laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.34 |
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1 |
Rs.87.61 |
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Euro |
1 |
Rs.57.61 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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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 |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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60 |
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
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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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