MIRA
INFORM REPORT
|
Report Date : |
27.01.2007 |
IDENTIFICATION DETAILS
|
Name : |
ROLEX RINGS PRIVATE
LIMITED |
|
|
|
|
Registered Office : |
Behind Glowtech
Private Limited, Gondal Road, Village - Kotharia, Rajkot – 36004, Gujarat,
India |
|
|
|
|
Country
: |
India |
|
|
|
|
Financials
(as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
13.02.2003 |
|
|
|
|
Com. Reg. No.: |
04-41991 |
|
|
|
|
CIN
No.: [Company
Identification No.] |
U28910GJ2003PTC041991 |
|
|
|
|
TAN
No.: [Tax
Deduction & Collection Account No.] |
RKTR00395D |
|
|
|
|
Legal Form : |
Private limited
liability company |
|
|
|
|
Line of Business : |
Manufacturer, sales and exports of
Machined Roller, Ball and Roller, Forged Ring’s Set, Machined Ring’s Set and
Scrap. |
RATING
& COMMENTS
|
MIRA’s Rating : |
B |
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable
factors carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
|
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well –
established company having moderate track. Project margin is under pressure.
Payments are reported as slow but correct. The company can be
considered normal for business dealings at usual trade terms & conditions
with same caution in view of some accumulated losses. |
LOCATIONS
|
Registered Office : |
Behind Glowtech
Private Limited, Gondal Road, Village - Kotharia, Rajkot – 36004, Gujarat,
India |
|
Tel. No.: |
91-281-2360406 |
|
Fax No.: |
91-281-2362376 |
|
E-Mail : |
|
|
Website : |
|
|
Area
: |
1200 Sq.ft |
|
Location
: |
Owned |
|
|
|
|
Factory 1 : |
Gondal Road,
Village Kotharia, P.O. Vavdi, Rajkot – 360 004, Gujarat |
|
Area
: |
1500 Sq.ft |
|
Location
: |
Owned |
DIRECTORS
|
Name : |
Mr. Madeka Dayashankar Rupesh |
|
Designation : |
Director |
|
Address : |
‘Daya’, 3, Pranakuti Socitety, Rajkot – 360 005, Gujarat |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Mihir
Rupeshbhai Madeka |
|
Designation : |
Director |
|
Address : |
‘Daya’, 3, Prankutti Socitety, Rajkot – 360 005, Gujarat |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Madeka Dayashankar Manesh |
|
Designation : |
Managing Director |
|
Address : |
‘Maya’, 5/6, Prankuti Society, Rajkot
– 360 005, Gujarat |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Pinakin
Dayashankar Madeka |
|
Designation : |
Director |
|
Address : |
‘Maya’, 5/6, Prankuti Society, Rajkot
– 360 005, Gujarat |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Madeka Dayashankar Ashok |
|
Designation : |
Director |
|
Address : |
‘Anand Bhavan’, B/h. MVM College,
Sethubandh Society, Rajkot-360 001, Gujarat. |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Bhautik
Dayashankar Madeka |
|
Designation : |
Director |
|
Address : |
‘Anand Bhavan’, Behind. MVM College,
Sethubandh Society, Rajkot-360 001, Gujarat. |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Paresh
Dayashankar Madeka |
|
Designation : |
Director |
|
Address : |
301, Dhara
Apartment, Near Parnakuti Society, Rajkot – 360 001, Gujrat |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Hamal
Dayashankar Madeka |
|
Designation : |
Director |
|
Address : |
301, Dhara
Appartment, Near Parnakuti Society, Rajkot – 360 001, Gujrat |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Madeka Dayashankar Jiten |
|
Designation : |
Director |
|
Address : |
‘Vasant’, 6, Prankutti Society,,
Rajkot – 360 005, Gujarat. |
|
Date of Appointment: |
13.02.2005 |
|
|
|
|
Name : |
Mr. Sanjay
Bhagwanji Bole |
|
Designation : |
Director |
|
Address : |
405, Orbit Towers,
41 Royal Park, 150”ft Road, Rajkot – 360 001, Gujrat |
|
Date of Appointment: |
13.02.2005 |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
No.
of Shares |
Percentage of Holding |
|
|
Mr. Rupesh Dayashankar Madeka |
168 |
14.00 |
|
|
Mr. Jiten Dayashankar Madeka |
204 |
17.00 |
|
|
Mr. Manesh Dayashankar Madeka |
180 |
15.00 |
|
|
Mr. Ashok Dayashankar Madeka |
180 |
15.00 |
|
|
Mr. Pinakin Dayashankar Madeka |
204 |
17.00 |
|
|
Mr. Bhautik Dayashankar Madeka |
120 |
10.00 |
|
|
Mr. Paresh Dayashankar Madeka |
36 |
3.00 |
|
|
Mr. Mihir Rupeshbhai Madeka |
36 |
3.00 |
|
|
Mr. Hemal Pareshbhai Madeka |
36 |
3.00 |
|
|
Mr. Sanjay Bhagwanji Bole |
36 |
3.00 |
|
|
Total |
1200 |
100.00 |
|
|
|
|
|
|
|
|
|
|
|
|
Category
of Shareholders |
No.
of Shares |
Percentage of Holding |
|
|
Directors
or relatives of director |
|
97.00 |
|
|
Other Top
50 Share Holders |
|
3.00 |
|
BUSINESS
DETAILS
|
Line of Business : |
Manufacturer, sales and exports of
Machined Roller, Ball and Roller, Forged Ring’s Set, Machined Ring’s Set and
Scrap. |
|
|
|
|
Exports to : |
USA, France, Italy
and UK |
|
|
|
|
Imports from : |
Europe and USA |
|
|
|
|
Terms : |
|
|
Selling
: |
L/C |
|
|
|
|
Purchasing
: |
L/C |
PRODUCTION
STATUS
|
Particulars |
|
|
Installed
Capacity |
Actual
Production |
|
Forged Rings |
|
|
18000 |
NA |
|
Machined Rings |
|
|
8000 |
NA |
GENERAL
INFORMATION
|
Suppliers : |
l
British Super Alloys Limited, UK l
Indian Seamless Steel & Alloys
Limited l
Anupam Engineering Private Limited |
|
|
|
|
Customers : |
Manufacture &
Other l
Antifriction Bearing Company Limited l
British Timken, UK l
SKF USA Inc. l
Timken Italia SRL l
Timken, France l
Timken, Europe |
|
|
|
|
No. of Employees : |
300 |
|
|
|
|
Bankers : |
·
Bank of India
Rajkot , Mumbai and Pune Branches ·
Oriental Bank of Commerce ·
ICICI Bank, Rajkot, Gujarat |
|
|
|
|
Facilities
: |
Rs. 292.349
Millions C/C & Term Loan |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
P R Lal Chandani
& Company Chartered
Accountant |
|
Address.: |
Plot No. 3, Adarsh
Cooperative Housing Society, Race Course Road, Rajkot |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL
STRUCTURE
Authorised Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
1200 |
Equity Shares |
Rs.
1,00,000 Each |
Rs.
120.000 Millions |
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1200 |
Equity Shares |
Rs.
1,00,000 Each |
Rs.
120.000 Millions |
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 |
120.000 |
120.000 |
120.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
31.617 |
|
|
4] (Accumulated Losses) |
(26.336) |
(6.939) |
(16.371) |
|
NETWORTH
|
93.664 |
113.061 |
135.246 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1474.832 |
948.761 |
488.539 |
|
|
2] Unsecured Loans |
63.596 |
3.830 |
50.946 |
|
TOTAL BORROWING
|
1538.428 |
952.591 |
539.485 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
|
1632.092 |
1065.652 |
674.731 |
|
|
|
|
|
|
|
APPLICATION OF
FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net
Block]
|
656.899 |
452.156 |
365.856 |
|
Capital
work-in-progress
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT
|
0.001 |
0.001 |
98.824 |
|
DEFERREX TAX
ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS,
LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
302.703
|
227.443 |
0.000 |
|
|
Sundry Debtors
|
384.709
|
322.430 |
0.000 |
|
|
Cash & Bank
Balances
|
302.805
|
219.436 |
0.000 |
|
|
Other Current
Assets
|
158.864
|
0.000 |
0.000 |
|
|
Loans &
Advances
|
65.880
|
75.819 |
356.101 |
Total
Current Assets
|
1214.960
|
845.128 |
356.101 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current
Liabilities
|
226.742
|
231.802 |
146.050 |
|
|
Provisions
|
14.145
|
0.736 |
0.000 |
Total
Current Liabilities
|
240.887
|
232.538 |
146.050 |
|
Net Current Assets
|
974.074
|
612.590 |
210.051 |
|
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES
|
1.119 |
0.905 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1632.092 |
1065.652 |
674.731 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover
[including other income]
|
2554.864 |
2003.146 |
462.817 |
|
|
|
|
|
Profit/(Loss)
Before Tax
|
(19.396) |
48.526 |
(16.223) |
Provision for
Taxation
|
--- |
--- |
(0.148) |
Profit/(Loss)
After Tax
|
(19.396) |
48.526 |
(16.371) |
|
|
|
|
|
Export Value
|
961.797 |
798.852 |
NA |
|
|
|
|
|
Import Value
|
NA |
NA |
51.094 |
|
|
|
|
|
Total Expenditure
|
2574.261 |
1954.619 |
22.529 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
|
(0.75)
|
2.42 |
(3.53) |
|
|
|
|
|
|
Net
Profit Margin(PBT/Sales)
|
|
(0.75)
|
2.42 |
(3.50) |
|
|
|
|
|
|
Return
on Total Assets(PBT/Total Assets}
|
|
1.03
|
3.73 |
(2.24) |
|
|
|
|
|
|
Return
on Investment (ROI)(PBT/Networth)
|
|
0.20 |
0.42 |
(0.11) |
|
|
|
|
|
|
Debt Equity Ratio(Total Liability/Networth)
|
|
12.59
|
10.48 |
5.06 |
|
|
|
|
|
|
Current Ratio(Current Asset/Current Liability)
|
|
5.04
|
3.63 |
2.43 |
LOCAL
AGENCY FURTHER INFORMATION
Fixed Assets :
·
Factory Building – Rs. 1.530 Millions
·
Furniture & Fictures – Rs. 0.237 Millions
·
Plant & Machinery – Rs. 11.247
Millions
·
Plant & Machinery – Rs. 8.609
Millions New
History
Rooted in the fertile grounds of
hard beginnings and humble origins, Rolex Rings, have survived and surpassed
competitors and now are the leading manufacturers of hot forged rolled ring in
India alongwith finish machining through CNC route. We had the courage to begin
our journey into a hardcore Engineering field dominated by big names, the
imagination to outlast the competition and the vision to make ourselves known
in the international arena as one seriously committed organisation to the cause
of technology empowerment.
We stand today for Engineering
capability, customised solutions and consolidated growth orientation.
Our values of commitment to
hardwork and our innate sense of responsibility towards providing the society
with superior products is the moving force behind our success saga.....
Philosophy
To impress with ideas percolate buyers with
patience, surprise the competition with solid sophistication and all of this in
party with our mission of empowering each employee, satisfying each vendor,
protecting investors interest and enabling the second string of leadership to
develop and promote the interests of all unified groups.. all this needs lots
of strength and struggle down the winding roads of success.
Product Profile
At Rolex, earnest
endeavour is to provide the most perfect products, customized to the client’s
requirements. Various types of rings like ball bearing, tapered, cylindrical,
spherical, railway bearing components, spacers with additional operations like
drilling, milling and marketing are manufactured at Rolex Rings.
|
Name of the company |
ROLEX RINGS PRIVATE LIMITED |
|
1) Date and description of instrument
creating the change |
Agreement
of Modification of charge/ Mortgage dated 15.03.2003 modified on 13.06.2006 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs
905.300 Millions |
|
3 ) Name and Address and description of
the person entitled to the charge. |
Oriental
Bank of Commerce Mangla
Bhavan, Nirmala Convent school Road, Rajkot – 360005, Gujarat, India |
|
4) Date and brief description of instrument modifying the charge |
13.06.2006 |
|
Name of the company |
ROLEX RINGS PRIVATE LIMITED |
|||||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
MR MANESH D MADEKA, DIRECTOR |
|||||||||||||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument
creating the change |
Common
deed of hypothecation of movables/assets and no instrument was executed but
equitable mortgage by deposit of title deeds dated 03.07.2003 |
|||||||||||||||||||||||||||||||||||||||||||||
|
2) Amount secured by the
charge/amount owing on the securities of charge |
All figures in Millions
Bank
Guarantee 222.000 |
|||||||||||||||||||||||||||||||||||||||||||||
|
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 |
First
charge by way of hypothecation of entire stock in trade including stocks of
raw materials, stock in process, finished goods, stores, spares, packing
materials, movable assets including movable plant and machinery, furniture,
fixtures, electricals and other movables, and book debts, receivables claims,
out standing money etc. both present and future and first charge by way of
equitable mortgage by deposit of title deeds on company’s entire fixed assets
excluding wind mill but including the factory land and building located at
survey no 150(p), plot no. 123(p), plot no 122(p), sub plot no 122B at survey
no. 150 admeasuring 112.47 Sq. meters at survey no 172/174-2/175 2/253, plot
no 12(p) (south-west corner), admeasuring 291.63 Sq. meters survey no.
150(p), plot no. 12(p) (west-south corner), admeasuring 146.82 Sq. meters at
old survey no. 172/1742-/175-2/253, new survey no 149/154/155/156 admeasuring
399.472 Sq. yards plot no 31(a), at survey no 150(p) admeasuring 143.80 Sq.
meters situated at village- kotahria , taluka and district rajkot in the
state of Gujarat alongwith all construction made or to be. |
|||||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
Rate
of interest Ø
Term
Loan – I : 12.25% (CBMTLR subject to revision) Ø
Term
Loan – I : 12.25% (CBMTLR subject to revision) Ø
Cash
Credit : (PLR 11.50% p.a. subject to revision) Ø
PCL upto
90 days 7.5% p.a. Ø
Export
bills negotiation, p/d upto 90 days 7.50% p.a. an above 90 days upto 180
11.50%p.a. Ø
Inland/
Import L/C commission as per described rate of bank Ø
B/G
commission as per prescribed rate of bank Repayment : Ø
Term
loan – I of Rs 6.000 Millions to be repaid within 24 months from the date of
avilment in 8 quarterly installments of rs 0.750 Millions (No Repayment
Holiday) Ø
Term
Loan – II of Rs 154.000 Millions to be repaid within 78 months from the date
of first disbursement in 22 quarterly installments as agreed with initial
repayment holiday of 12 months. Ø
Cash
Credit is repayable on demand Ø
Each
PCL to be liquidated within 90 days
by negotiation/ purchase/ discount of export bills. Ø
EBN,
P/D to be repaid within the usance period. Ø
Inland/
import LC; DP/DA upto 60 days in inland L/C and D/A upto 120 days in import
L/C Margin Ø
For
term Loan – II Land-50%, Building – 40%, Machinery – 25% and Tools-40%
(overall margin 38.8%) Ø
For
Cash Credit ; stock 25% and Book debts 40% Ø
P/C
Margin 25% of stock meant for export Ø
Inland/Import
L/C Cash margin of 15% Ø
B/G
Cash margin of 15% Other
terms and conditions as per sanction letter and hypothecation deed. |
|||||||||||||||||||||||||||||||||||||||||||||
|
5) Name and Address and description
of the person entitled to the charge. |
Corporation
bank, Mani Branch “Nijanand”,
Dhebar Road, Rajkot – 360001 |
|||||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
movables/assets/debts for the
overall limit of Rs 794.130 Millions
|
|||||||||||||||||||||||||||||||||||||||||||||
|
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. |
The
original limit of rs 222.000 Millions which was modified from time to time
and now stands at Rs 222.000 Millions at present is now enhanced to Rs
794.130 Millions as follows
-
Margin
: 25 % on plant and machineries and building 50% wherever applicable -
Rate
of interest 9.50p.a. (COBAR – 1.00%) -
Pari
passu first charge with OBC, Rajkot by way of hypothecation of assets to be
acquired out of laon finance more particularly stated in annexure to loan
agreement and supplementary common deed of hypothecation of movables/ Assets/
debts -
Repayment
as per schedule shown in the repsctive term loan agreements -
Other
terms and conditions are as per the agreements / letters/ deeds executed for
the limit of Rs 222.020 millions originally and as per modified from time to
time for the revised limit upto the presently enhanced limit of Rs 794.130
millions |
|
Name of the company |
ROLEX RINGS PRIVATE LIMITED |
|
1) Date and description of instrument
creating the change |
Agreement
of Modification of charge for hypothecation of plant and machinery, stock in
trade and book debts dated 13.06.2006 |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs
905.300 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 plant and machinery, stock in trade and book debts. |
|
4) Name and Address and description
of the person entitled to the charge. |
Oriental
Bank of Commerce Mangla
Bhavan, Nirmala Convent school Road, Rajkot – 360005, Gujarat, India |
|
5) Date and brief description of instrument modifying the charge |
13.06.2006 |
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.44.24 |
|
UK Pound |
1 |
Rs.86.95 |
|
Euro |
1 |
Rs.57.33 |
SCORE
& RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
35 |
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 |
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 |