MIRA INFORM REPORT
|
Report
Date : |
25.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TATA
INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
Block ‘A’, Shivsagar Estate, Dr. Annie Besant Road, Worli,
Mumbai – 400 018, Maharashtra |
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Country
: |
India |
|
|
|
|
Financials
(as on) : |
31.03.2006 |
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|
|
|
Date
of Incorporation : |
30.11.1962 |
|
|
|
|
Com.
Reg. No.: |
11-12528 |
|
|
|
|
CIN
No.: [Company Identification No.] |
U51900MH1962PLC012528 |
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|
|
|
TAN
No.: [Tax Deduction & Collection Account No.] |
MUMT09485A |
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|
|
|
PAN
No.: [Permanent Account No.] |
AAACT3198F |
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|
|
|
Legal
Form : |
Closely Held Public Limited Liability Company |
|
|
|
|
Line
of Business : |
Manufacturing
and Selling of High Fashion Leather and Leather Products and Exporter of
Various goods, Services and Technologies |
RATING & COMMENTS
|
MIRA’s
Rating : |
Aaa |
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 |
|
Maximum
Credit Limit : |
USD
7500000 |
|
|
|
|
Status
: |
Excellent |
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|
|
|
Payment
Behaviour : |
Regular |
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|
|
|
Litigation
: |
Clear |
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|
|
Comments
: |
Subject is a part of the country’s largest industrial
house known as TATA GROUP. Available
information indicates high financial responsibility of the company and its
management. Fundamentals are strong and healthy. Financial position of the company is comfortable. The
company is progressing well. Subject
can be considered good for long-term association. It can be considered good for any normal business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
Block ‘A’, Shivsagar Estate, Dr. Annie Besant Road, Worli,
Mumbai – 400 018, Maharashtra, India |
|
Tel.
No.: |
91-22-24964310-16
/ 56652200 – 10/56612835 |
|
Fax
No.: |
91-22-24950309
/ 24950366 / 2495 0574 / 56612837/56612835 |
|
E-Mail
: |
|
|
Website
: |
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Tannery
: |
Located
at:- Dewas, Madhya Pradesh |
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|
|
|
Footwear Division: |
Located
at:- Chennai,
Tamilnadu |
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|
|
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Overseas
Offices: |
v
Tata
South-East Asia Limited Rm 1010, Tower III, Enterprises Square, 9 Sheurlg Yuet Road, Kowloon Bay, Kowloon, Hong Kong Tel : 852-27519747 Fax. : 852-27546672 E-mail : murali@tatahk.com v
5
Shenton Way, #27-05 UIC Building, Singapore 068808 Tel. +65 62259700 Fax. +65 62252345 E-mail. 1. tatasing@singnet.com.sg 2.
tatas@singnet.com.st v
Tata
(UAE) FZE ZB 07 R/A 08, Jebel Ali Free Zone, P. O. Box 16980, Dubai, UAE Tel. 00-9714-8837750/721 Fax. 9714-8837806/721 E-mail. teldubai@emirates.net.ae v
P.
O. Box 1627, Parklands, Johannesberg 2121, South Africa Tel. 27-11 4423382/3 Fax. 29-11 4423385 E-mail. tata@icon.co.za v
Level
19, Riverswide Centre, 123, Eagle Street, Brisbane, QLD – 4000, Australia Tel. 0061-7-38390455 Fax. 0061-7-38390466 Cell. 0061-402821018 E-mail. ranjan@tataaustralia.com 5 Shenton
Way, #27-05 UIC Building, Singapore 068808 |
DIRECTORS
|
Name : |
Mr.
Syamal Gupta |
|
Designation
: |
Chairman |
|
Address
: |
19
Commonwealth, 181, Backbay Reclamation, Mumbai – 400020 |
|
Date
of Birth/Age : |
15.04.1934 |
|
Date
of Appointment : |
15.04.1999 |
|
|
|
|
Name : |
Mr.
Sudhir Deoras |
|
Designation
: |
Managing
Director |
|
Address
: |
Flat
191B, Maker Tower, 19th Floor, Colaba, Mumbai – 400005 |
|
Date
of Birth/Age : |
01.08.1954 |
|
Date
of Appointment : |
15.04.2004 |
|
|
|
|
Name : |
Mr. Raman
Dhawan |
|
Designation
: |
Director |
|
Address
: |
C/O Tata
Africa Holdings (SA), Rosebank Corner, 3rd Floor, 191 Jan Smuts
Avenue, Parktown, North 2193, Johannesburg, South Africa |
|
Date
of Birth/Age : |
07.11.1948 |
|
Date of
Appointment : |
04.12.2001 |
|
|
|
|
Name : |
Mr.
Homiar Sorabji Vaccha |
|
Designation
: |
Director |
|
Address
: |
Flat No.
9, Naoroji House, Naigaum Cross Road, Dadar, Mumbai – 400014, Maharashtra |
|
Date
of Birth/Age : |
23.04.1942 |
|
Date
of Appointment : |
06.11.2003 |
|
|
|
|
Name : |
Mr. Alan
Richard Rosling |
|
Designation
: |
Director |
|
Address
: |
9, Hill
Park, Malabar Hill, A G Bell Road, Mumbai – 400006, Maharashtra |
|
Date
of Birth/Age : |
16.08.1962 |
|
Date
of Appointment : |
15.07.2004 |
|
|
|
|
Name : |
Mr.
Balasubramanian Muthuraman |
|
Designation
: |
Director |
|
Address
: |
No. 7, C
Road, Northern Town, Jamshedpur – 831001, Jarkhand |
|
Date
of Birth/Age : |
26.09.1944 |
|
Date
of Appointment : |
12.08.2004 |
|
|
|
|
Name : |
Mr.
Piyush G. Mankad |
|
Designation
: |
Director |
|
Address
: |
33A,
Green View Apartments, Sector 15A, Noida, Uttar Pradesh |
|
Date
of Birth/Age : |
18.11.1941 |
|
Date
of Appointment : |
12.08.2004 |
|
|
|
|
Name : |
Mr.
Farokh N. Subedar |
|
Designation
: |
Director |
|
Address
: |
Wadia
Building, Ground Floor, 6 Babulnath Road, Mumbai – 4000006, Maharshtra |
|
Date
of Birth/Age : |
24.09.1955 |
|
Date
of Appointment : |
12.08.2004 |
|
|
|
|
Name : |
Mr. Rajiv
Dube |
|
Designation
: |
Director |
|
Address
: |
5, Betsy
Apartments, Perry Road, Bandra (West), Mumbai – 400050, Maharashtra |
|
Date
of Birth/Age : |
04.02.1962 |
|
Date
of Appointment : |
12.08.2004 |
|
|
|
|
Name : |
Mr. Arun
Kumar Vora |
|
Designation
: |
Director |
|
Address
: |
S-2, 3rd
Floor, Orchid Apartments, 161, 5th Main, DefenceColony, Indira
Nagar, Bangalore-560038, Karnataka, India |
|
Date
of Birth/Age : |
14.08.1941 |
|
Date
of Appointment : |
26.09.2006 |
|
Other
Directorships : |
Tata
Advanced Material Limited TCE
Consulting Engineering Limited |
KEY EXECUTIVES
|
Name : |
Mr.
Mandar Manohar Tambe |
|
Designation
: |
Secretary |
|
Address
: |
D 45,
Venus Cooperative Society, Flat No. 24, 6th Floor, R G Thadani
Marg, Worli Seaface, Mumbai – 400011 |
|
Date
of Birth/Age : |
20.09.1959 |
|
Date
of Appointment : |
28.05.1996 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Tata
Motors Limited |
25,000 |
|
Tata
Chemicals Limited |
24,000 |
|
Maharashtra
State Textiles Corporation |
200 |
|
Voltas
Limited |
5,000 |
|
Tata
Refractories Limited |
1,870 |
|
Tata Sons
Limited |
76,000 |
|
Tata
Industries Limited |
8,561 |
|
Trent
Limited |
1,000 |
|
Tayo
Rolls Limited |
2,000 |
|
Ewart
Investments Limited |
20,000 |
|
Taj
Investment & Finance Company Limited |
4,000 |
|
The Tata
Iron & Steel Company Limited |
3,740 |
|
Shapoor
Pallonji Mistry |
100 |
|
Cyrus
Pallonji Mistry |
100 |
|
Sheba
Properties Private Limited |
9,675 |
|
Af-Taab
Investment Company Limited |
12,000 |
|
Simone
Naval Tata |
56 |
|
Kalimati
Investment Company Limited |
6,698 |
|
TOTAL |
200,000 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturing
and Selling of High Fashion Leather and Leather Products and Exporter of
Various goods, Services and Technologies |
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Products
: |
|
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|
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Exports
to : |
Africa, Europe, Far East Asia, Middle East and North
America |
GENERAL INFORMATION
|
No. of
Employees : |
1590 |
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|
|
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Bankers
: |
Ø
Bank
of India, Mumbai, Maharashtra, India Ø
State
Bank of India, Shiv Sagar Estate Branch, Mumbai - 400 018, Maharashtra, India Ø
Central
Bank of India Ø
HDFC
Bank, Sandoz House, Dr. A. B. Road, Mumbai - 400 018, Maharashtra, India Ø
Standard
Chartered Grindlays Plc Ø
State
Bank of Indore Ø Banque Nationale de Paris Ø ICICI Bank Ø Hongkong and Shanghai Banking
Corporation Limited Ø Standard Chartered Bank Zambia PLC Ø Indo-Zambia Bank Limited Ø Citi Bank Zambia Limited Ø Stanbic Bank Zambia Limited Ø Barcays Bank Zambia Limited Ø Zambia National Commercial Bank
PLC |
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Facilities : |
|
|
Banking Relations : |
Good |
|
|
|
|
Auditors
: |
Ø
K.
S. Aiyar & Company Chartered
Accountants F-7,
Laxmi Mills, Shakti Mills Lane, (Off Dr. E. Moses Road), Mahalaxmi,
Mumbai-400011, Maharashtra, India Ø
G.
N. Joshi & Associates Chartered Accountants K.K. Chambers, 3rd Floor, Sir Purshottam
Thakkurdas Marg, Mumbai-400001, Maharashtra, India |
|
|
|
|
Associates
: |
Ø
The
Tata Iron & Steel Company Limited Ø
Tata
Engineering & Locomotive Company Limited Ø
Tata
Sons Limited Ø
Automobile
Corporation Goa Limited Ø
Dewas
Tenneries Private Limited Ø
Floatglass
India Limited Ø
Graziella
Shoes Limited Ø
Pran
Agro Services Limited Ø
Tata
Holset Limited Ø
Tata
Precision Industries (India) Limited Ø
Titan
Watches Limited Ø
Sheba
Properties Limited Ø
Tata
Projects Limited Ø
Tata
BP Solar Limited Ø
Tata
Industries Limited Ø
Tata
Services Limited Ø
Tata
Oil Mills Limited Ø
Sitel
India Limited |
|
|
|
|
Memberships
: |
Confederation
of Indian Industry |
|
|
|
|
Subsidiaries
: |
Ø
Cameo
Investment & Finance Limited Ø
Cometal,
S.A.R.L. Ø
Light
Source Manufacturers Limited Ø
Pamodzi
Hotels Plc Ø
Tata
Africa Holding (SA) (Proprietory) Limited Ø
Tata
Automobile Corporation (SA) (Proprietory) Limited Ø
Tata
De Mocambique Limitada Ø
Tata
Ghana Limited Ø
Tata
Holdings (Tanzania) Limited Ø
Tata
Holdings Mocambique Limited Ø
Tata
International (Australia) Proprietary Limited Ø
Tata
Namibia (Proprietary) Limited Ø
Tata
(UAE) FZE Ø
Tata
Uganda Limited Ø
Tata
Zambia Limited Ø
Tata
(Zimbabwe) (Private) Limited Ø
Tata
South-East Asia Limited Ø
Makumbi
Agricultural and Technical Services Company Limited Ø
Townap
Textiles Zambia Limited Ø
Pamodzi
Hotels Plc. Ø
Luangwa
Industries Limited Ø
Tata
West Asia FZE |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
3,00,000 |
Equity Shares |
Rs.
1,000 each |
Rs. 300.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2,00,000 |
Equity Shares |
Rs.
1,000 each |
Rs. 200.000 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 |
200.000 |
200.000 |
200.000 |
|
|
2]
Reserves & Surplus |
1686.171 |
1481.685 |
1129.900 |
|
NETWORTH
|
1886.171 |
1681.685 |
1329.900 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
2012.435 |
1857.013 |
1822.000 |
|
|
2]
Unsecured Loans |
0.000 |
75.000 |
123.000 |
|
TOTAL
BORROWING
|
2012.435 |
1932.013 |
1945.000 |
|
|
DEFERRED
TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
3898.606 |
3613.698 |
3274.900 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
438.489 |
451.025 |
380.200 |
|
Capital work-in-progress
|
103.375 |
24.254 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
2068.074 |
2099.702 |
957.100 |
|
DEFERREX TAX ASSETS
|
18.683 |
43.496 |
961.500 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Interest Accrued on Investments |
0.000 |
2.898 |
0.000 |
|
|
Inventories |
1250.858 |
1044.275 |
961.500 |
|
|
Sundry debtors |
7275.702 |
6119.446 |
3604.000 |
|
|
Cash & Bank Balances |
109.020 |
169.142 |
181.900 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
1965.166 |
1706.054 |
1477.500 |
Total Current Assets
|
10600.746 |
9041.815 |
6224.900
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
7656.092
|
6686.581
|
4059.200
|
|
|
Provisions
|
1705.678
|
1375.458
|
241.300
|
Total Current Liabilities
|
9361.770 |
8062.039 |
4300.500
|
|
Net
Current Assets
|
1238.976 |
979.776 |
1924.400
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
31.009 |
15.445 |
13.200 |
|
|
|
|
|
|
|
TOTAL
|
3898.606 |
3613.698 |
3274.900 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
33862.183 |
42743.296 |
30302.900 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
636.716 |
383.178 |
300.900 |
Provision for Taxation
|
197.129 |
146.056 |
70.000 |
Profit/(Loss) After Tax
|
439.587 |
237.122 |
230.900 |
|
|
|
|
|
Export Value
|
26762.566 |
36207.983 |
26622.641 |
|
|
|
|
|
Import Value
|
NA |
2243.885 |
690.745 |
|
|
|
|
|
Total Expenditure
|
33225.467 |
42360.118 |
29944.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
1.30
|
0.55 |
0.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.88
|
0.90 |
0.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.77
|
4.04 |
4.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.23 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.03
|
1.29 |
1.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.24 |
1.43 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Subject was incorporated on 30.11.1962 at Mumbai in
Maharashtra under the name and style of Tata Exports Limited having Company
Registration Number 12528.
Subject, incorporated as an export marketing company, has
over the years enlarged its areas of business. It is also an exporter of goods,
services and technologies. It has a significant overseas presence through its
wholly owned subsidiaries, joint ventures, overseas offices and associate
companies. It was, therefore felt that the name Tata Exports Limited did not
reflect the complete gamut of the company's operations. Consequently, effective
03.03.1998, with shareholder's approval, and that of Central Government, the
company's name was changed to the present.
Form 8 Particular
for creation or modification of charges
|
Name of the company |
TATA INTERNATIONAL LIMITED |
|
Presented By |
State Bank of India, Overseas Branch, Mumbai-400005 |
|
1) Date and description of
instrument creating the change |
Agreement
of loan for overall limit Agreement
of hypothecation of goods and assets Letter
regarding grant of individual limits within the overall limit all dated
31.03.2005 creating a single charges |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs.5500
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 |
Documents
of title to goods and hypothecation charge over the mobile handsets purchased
by the Borrower under the Letter of credit facility granted by the bank and
exclusive charge on the borrower receivables from Drive India.com Limited on
sale of the mobile handsets purchased under these letters of credit. |
|
4) Gist of the terms and
conditions and extent and operation of the charge. |
Interest – As determined by the bank form time to
time Margin - As prescribed by the bank form time to time |
|
5) Name and Address and
description of the person entitled to the charge. |
State Bank of India World Trade Centre, Cuffe Parade, Mumbai-400005 |
|
6) Date and brief description of instrument
modifying the charge |
Not
Applicable |
|
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. |
Not
Applicable |
|
Name of the company |
TATA INTERNATIONAL LIMITED |
||||||||||
|
Presented By |
State Bank of India, Overseas Branch, Mumbai-400005 |
||||||||||
|
1) Date and description of
instrument creating the change |
Joint
deed of hypothecation Working
capital consortium agreement both dated 19.02.2003 creating a single charge. |
||||||||||
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs.3020
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 |
The
whole of the current assets of the company, namely stock of raw materials,
stocks in process, semi finished goods stores and spares not relating to
plant and machinery (consumable stores and spares), bills receivable and book
debts and all other movables, both present and future whether lying loose or
in cases or which are now lying or stored in or about or shall from time to
time during the continuance of the security be brought into or upon or the
godowns situated at various places I India or wherever else in the same may
be or be held by any party to the other or disposition of the company or in
the course of transit or on high seas or on order or delivery, however and
where so ever in the possession of the company and either by way of
substitution or addition. |
||||||||||
|
4) Gist of the terms and
conditions and extent and operation of the charge. |
Interest – As determined by the bank form time to
time Margin - As prescribed by the bank form time to time |
||||||||||
|
5) Name and Address and
description of the person entitled to the charge. |
State Bank of India World Trade Centre, Cuffe Parade, Mumbai-400005 Standard chartered Grindlays Bank M.G. Road, Fort, Mumbai-400001 State Bank of Indore Sterling Centre, Worli, Mumbai-400018 BNP Paribas, Fort, Mumbai-400018 HDFC Bank Limited Sandoz House, Worli, Mumbai-400018 |
||||||||||
|
6) Date and brief description of instrument
modifying the charge |
Letter
dated 20.10.2005 from State Bank of India |
||||||||||
|
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 charge created for Rs.3020 millions modified to Rs.305 millions in
view of the repayment / discharge of credit facilities to the extent of
Rs.2715 millions |
It’s
products range includes:-
Leather & Leather Products
·
Finished
Leather
·
Leather
Garments
·
Footwear
Articles
·
Leather
Footwear and Shoe Uppers
Automobiles
·
Passenger
Cars
·
Sports
Utility Vehicles
·
Pick
Ups
·
Light,
Medium & Heavy Trucks
·
Small
and Big Buses
·
Tippers
& Tractors
Engineering
·
Customised
Engineering Products
·
Steel
and Mining Industry allied Products
·
Railway
and Port Equipment
·
Rolls
and Regfractories
·
Autocomponents
and Customized Products
·
Construction
and Material Handling Equipment
·
MRO
(Maintenance, Repairs and Operations)
·
Bicycles
and Bicycle Spares
·
Packaging
Steel
·
Hot
Rolled Coils
·
Hot
Rolled Plates/Sheets
·
Cold
Rolled Coils
·
Galvanise
Coils
·
ETP
·
Billets
·
Steel
·
Scrap
·
Structurals
·
Deformed
Bars
·
Wire
Rods
·
Slabs
Minerals, Metals and Ferro Alloys
·
Principal
Ores and Minerals
·
Ferro
Alloys
·
Non-Ferros
Metals
Chemicals
·
Industrial
·
Food
Additives
·
Chlor
Alkalis
·
Iron
Oxide
·
Pigments
·
Solvents
·
Maize
Deravatives
·
Minerals
·
Paint
Driers
IT & Software Services
·
E-business
·
Business
Intelligence
·
ERP
·
CRM
·
Network
Services
·
Disaster
Management
·
Outsourcing
·
Re-engineering
& Migration
Bulk Commodities – Imports
·
LSWR,
LSHS & Low Sulphur fuel oils
·
Furnace
Oil
·
Thermal
Coal
·
Steam
Coal
·
Bituminus
Coal
·
Coking
Coal
·
Metallurgical
Coke
·
Limestone
·
Sulphur
·
Rock
Phosphate
Consumer Product Sourcing
·
Equipment
for the telecommunication industry
·
Household
items, linen & consumables for hotels & retail
·
Electronic
equipment
Nature of Business
·
International
Business Company
·
International
business gateway of the Tata Group
·
Golden
Super Star Trading House
The Leather
Complex at Dewas has received an ISO 14001 certification.
The company exports engineering products, commercial vehicles,
high fashion leather products, healthcare products, commodities, chemicals,
ceramic tableware, textile garments and home furnishings.
The company has collaboration with British Petroleum (BP);
Holset; Tata Precision Industries Private Limited, Singapore
Some of its joint ventures and alliances:-
- Graziella
Shoes Limited, with Pucci SRL (Italy) for leather footwear
- Tata
Holset Limited, with Holset Engineering (UK) for marketing &
manufacture of turbochargers
- Tata
Precision Industries (India) Private Limited, with Tata Precision
Industries Private Limited, (Singapore) for marketing & manufacture of
precision engineering components
- Consilience
Technologies (Private) Limited, with Tata Africa Holdings (SA)
(Proprietary) Limited (South Africa) for Information Technology
- With
Itochu (Australia) for marketing mining consumables
- With
Asia Trading S.A. (Chile) for marketing & sourcing arrangement for
Chile and later LAC
- With
The Turbo Genset Company Limited (TGC), UK for business development for
innovative Distributed Generation products and solutions for India, Sri
Lanka and Bangladesh.
- With
Al-Zamil Group of Companies for marketing in Saudi Arabia
- With
Loxley Public Company Limited, Thailand for promoting trading and business
in India and Thailand
They have facilitated alliances for the Tata
Group:
- With
American International Group, Inc. (USA) for life and general insurance
and financial services and risk management. Tata-AIG Risk Management
Services (TARMS) and Tata-AIG Insurance were the result
- With
British Petroleum for solar photovoltaics, the result of which is Tata BP
Solar India Limited
- With
SITEL Corp (USA) for contact center services, the result of which is Sitel
India Limited
- With
Holset Engineering (UK) for turbochargers the result of which was Tata
Holset Limited
The company’s fixed
assets of important value include Land (Leasehold), Building, Roads, Plant
& Machinery, Furniture & Fixtures, Office & Other Equipments,
Electrical Installation, Air Conditioners and Refrigerators, Vehicles and
Transport.
OPERATIONS
In 2004-05, Indian economy achieved a GDP growth rate of 5.9%. The economy managed to maintain the growth
momentum of a deficient monsoon, hardening of world oil and steel prices and
extensive damage caused by Tsunami in several southern states. The period also saw strengthening of the
rupee against the US$ and the trend reversed against from October, 2004 against
the major non-dollar currencies. The
rupee started appreciating against the dollar since September, 2004. In September, 2004 the rupee was Rs. 46.30
to a Dollar and in June, 2005 it appreciated to 43.56% to a Dollar. The period 2004-05 also saw an appreciation
in Euro against the rupee to the extent of approx 5%.
India’s
exports and imports continued to perform well.
Indian exports grew by 24.4% while imports were up by 35.6% and non-oil
imports by 33.6%. Tata Internationals
exports grew by 38% for the year 2004-05.
The company achieved its growth in exports by leveraging its global
presence across regions and entering new market segments in various product
categories.
The
company achieved an overall turnover of Rs. 43820 millions which is about 3%
higher than the overall turnover of Rs. 31850 millions for the previous
year. Exports aggregated to Rs. 36750 millions
[USD 840 million] as against the export of Rs. 26510 million [USD 606 million]
for the previous year. The profit after
tax of Rs. 244 millions is 6% higher than the profit after tax of Rs. 230
millions for the previous year.
Leather
Business : The business achieved a turnover of Rs. 4640 millions for the year
2004-05 as compared to a previous year turnover of Rs. 3770 millions. The 23% growth achieved in leather business
has been a result of the various initiatives taken, which include streamling
production at the Dewas tannery operating at 3 million sq. ft. per month
consistently, which is more than hundred percent in terms of capacity
utilization. This has been further
supported by growth through strategic alliances and joint ventures. The business has strengthened the marketing
organization and established a new marketing office and a leather showroom in
Dong Guan province in China. Dong Guan
is China’s most prosperous province and is the hub for footwear exports out of
China. The leather footwear division
has signed an MoU with ARA Group of Germany, for supply of 1.5 million pairs of
shoes. The MoU also provides for supply
of leather from Tata International to ARA.
The six Sigma initiatives taken by Leather GBU have helped the business
to achieve higher level of operational efficiency and cost savings. The leather GBU was selected for the
prestigious ‘The Energy and Resources Institute’ [TERI] Corporate Awards for
its project on Hazardous Waste Recycling.
Engineering
Business : the business grew by 41% in 2004-2005, registering a turnover of Rs.
1730.000 millions. The period witnessed
a steep price increase of steel, which adversely impacted the Indian
engineering industry. The engineering
business improved substantially through its supply chain management and
operational efficiency. Service levels
of Tata Motors parts improved during the year.
The division formed a joint venture with Dutch Lanka Trallers [DLT] for
setting up a manufacturing facility in India.
The projects supply division secured major orders from developing
countries like Sudan & Vietnam. The
business made good progress in imports area also.
Tata
Motors Business : the business achieved a turnover of Rs. 8670 millions for the
year 2004-2005 as compared to the previous year turnover of Rs. 6410
millions. The increase in business was
due to the higher exports to Sri Lanka, South Africa and West Asia North Africa
[WANA] region.
Steel
Business : the business achieved a turnover of Rs. 15820 millions for the year
2004-05. the business strengthened its
sourcing bases and developed the Indian market for products sourced from
Natseel, China. The GBU developed new
sourcing bases such as Taiwan, Egypt, China for flats trading and developed UK
market for Metallics trading. Market
developed in India for Turkish Rebars and Wire rods sourced from Natsteel,
China, Billets supply sources developed from Turkey. The GBU initiated prefinancing study involving banks for
stabilizing steel sourcing from mills and also entered into long term contracts
with Arcelor, Proton and Unitol. In
order to address its objective of going down the value chain, the business
undertook preliminary studies to establish the viability of owning a steel
service center business in the GCC and in South Africa. The business undertook major initiatives to
add value to Tata Steel’s globalization objectives. A detailed study was undertaken by the steel business unit to
identify a suitable downstream partner in China for Tata Steel’s Orissa
Project. The steel business also
undertook major initiatives to help Tata Steel participate in the Krivoyrog
proviatization tender and seek specific JV and M & A opportunities.
Minerals
Business : the business achieved a turnover of Rs. 6120 millions for the year
2004-2005. the minerals business unit
achieved highest ever Ferro Chrome exports. The division achieved price
leadership in the global chrome ore market in 2004-2005. It emerged as the largest chrome ore
exporter from India in 2004-2005. The
business entered new markets like Russia, Germany and new segments in Japan, as
the first Indian supplier. The division
successfully completed the Government of India’s Mint Tender for Nickel. Minerals business unit achieved market
success in Vietnam, Pakistan and Bangladesh in Metals and market leadership in
Nepal for Zinc and Copper. It
successfully developed new markets for Aluminium in Vietnam and India. Also smart buying for Tata Steel achieved
cost savings for them in 2004-05.
Bulk
Commodities & Chemicals Business : the business achieved a turnover of Rs.
440 millions for the year 2004-05. The
division is among the top trader of Metcoke imports into India. The division developed new sources for
coking coal. It also commenced sourcing
of coking coal from Ukraine. The GBU
signed an MoU with Tata Chemicals for imports of raw materials [steam coal,
anthracite, rock phosphate, sulphur] as well as export of Soda Ash & Sodium
Bi-carbonate.
Consumer
Products Division : the business achieved a turnover of Rs. 4470 millions for
the year 2004-05. The division sources
handsets, terminals, equipment and devices from reputed manufacturers
worldwide.
To
further increase its global reach, the company opened three new offices in
2004-05, in Uruguay, Turkey and Iran.
Business development activities are underway in Latin America [Latam]
region and Uruguay office is working with group companies and their respective
business units for new business opportunities in Latam region. The Iran office is providing support to bulk
business unit and steel business for sourcing from Iran and also to the
engineering business for supply of autocomponents. In Turkey, business development activities are in progress and
steel business is being done with USA and other markets in West Asia.
OVERSEAS OPERATIONS
TATA Namibia (Proprietary) Limited achieved a turnover of N$ 0.041 million
(Rs.0.300 millions) [2003-2004: N$ 0.079 million (Rs 0.600 millions)].
TATA Holdings Mocambique Limitada and its subsidiary Tata De Mocambique
Limitada achieved an aggregate turnover of Meticais 79975 million (Rs.183.9
millions) [2003-04 : Meticais 47733 million (Rs. 85.9 millions)].Cometal SARL
achieved a turnover of Meticais 23962 million (Rs. 55.100 millions) [2003-04:
Meticais 22093 million (Rs 39.800 millions)].
TATA Uganda Limited achieved a turnover of U Shs.7353.388 million (Rs.187.300
millions) [2003-04: U Shs 7284.590 million (Rs 166.100 millions)].
TATA Holdings (Tanzania) Limited (THTL) and its subsidiary Light Source
Manufacturers Limited achieved an aggregate turnover of T Shs 4855.9 million
(Rs 193.3 millions) [2003-04 : T Shs 3117.229 million (Rs 123.1
millions)].
TATA Africa Holdings (SA) (Proprietary) Limited (TATA Africa) achieved a
turnover of SAR 296.01 million (Rs.2075.3 million) [2003-04 : SAR 127.55
million (Rs 886.900 million)]. TATA Automobile Corporation (SA)
(Proprietary)Limited achieved a turnover of SAR 211.706 million (Rs.1484.200
million)[2003-04: SAR 92.037 million (Rs.639.900 million)].
TATA Ghana Limited achieved a turnover of Cedis 61008.8 million (Rs.298.900
million) [2003-04 : Cedis 2883.09 million (Rs. 15895.9 million ].
TATA West Asia Limited (formerly known TATA [UAE] FZE] achieved a turnover of
Dirhams 302.7 million (Rs. 3605 million) [2003-04: Dirhams 177.438 million (Rs.
2111.9 million )].
Tata International (Australia) Pty. Limited achieved a turnover of A$ 201.3
million (Rs. 6811.3 million ) [2003-04 : A$ 164.315 million (Rs. 5481.300
million )].
AWARDS
Active Promotion award
of business excellence for crossing 500 points in TBEM External Assessment
2004. Engineering GBU received ISO 9001:2000 certification for all its
locations in India for Global Marketing and Sourcing of Engineering Products.
Leather GBU received the State level award for environment protection from the
Ministry of Housing & Environment, Government of Madhya Pradesh Amity
Global Corporate Excellence Award from Centre of International Business, Amity
Business School, Noida Teri Corporate Award in category III[turnover over Rs. 5000
millions] for its project on Hazardous Waste recycling at the Leather GBU’s
Dewas facility. Best Performing Zone award for steel GBU in business excellence
night of Tinplate company of India Limited [TCIL].
Name of the Company :
Tata International Limited
Presented by : Mr. M. M. Tambe – Vice president
(Corporate) & Company Secretary
|
1. Date and description of the instrument creating or evidencing the charge |
|
|
2. Amount secured by the charge /amount owing on
security of the charge |
(Rs. In millions) State
Bank of India - 1045.000 State
Bank of Indore - 830.000 Standard
Chartered Bank - 600.000 BNP
Paribas
- 305.000 HDFC Bank Limited -
240.000 TOTAL - 3020.000 |
|
3. Short Particular of the property charged. If the property
acquired is subject to change date of
acquisition of property should be given |
The whole
of the Current Assets of the Company, namely stocks of raw materials, stocks
in process, semi-finished and finished goods, stores and spares not relating
to Plant & machinery (consumable stores and spares) ; bills receivable
and book debts, and all other movables, both present and future whether lying
loose or in cases or in cases or which are now lying or stored in or about or
shall from time to time during the continuance of the security be brought
into or upon or be stored to be in or about of the company’s factories,
premises and godowns situated at various places in India or whether else the
same may be or be held by any party to the other or disposition of the
Company or in the course of transit or on high seas or on order or delivery,
howsoever and wheresoever in the possession of the company and either by way
of substitution or addition. |
|
4. Gist of the terms and conditions and extent and operation
of the charge. |
|
|
5. Names, address and description of the persons entitled
to charge |
|
|
6. Date and brief description of instrument modifying the
charge |
Letter
dated 20.10.2005 from State Bank of India |
|
7. Particulars of modification specifying the terms, conditions or the extent of operation of the charge in
which modification is made, and the details of the modification |
The
original charge created for Rs. 3020.000 millions modified to Rs. 305.000
millions; in view of the repayment/discharge of credit facilities to extent
of Rs. 2715.000 millions |
Name of the Company :
Tata International Limited
Presented by : ICICI Bank Limited
|
1. Date and description of the instrument creating or evidencing the charge |
Deed of hypothecation dated the 16th day of
December, 2005 executed by Tata International Limited (therein and
hereinafter referred to as the Borrower) in favour of ICICI Bank Limited |
|
2. Amount secured by the charge /amount owing on
security of the charge |
Credit
facilities not exceeding Rs. 4500.000 millions (the aforesaid facilities as
amended from time to time are hereinafter collectively referred to as the
Facilities) extended/granted to the Borrower. |
|
3. Gist of the terms and conditions and extent and operation
of the charge. |
|
|
4. Names, address and description of the persons
entitled to charge |
ICICI Bank Limited ICICI Bank Towers, Bandra-Kurla Complex, Mumbai – 400051 |
|
5. Date and brief description of instrument modifying the
charge |
Not Applicable |
|
6. Particulars of modification specifying the terms, conditions or the extent of operation of the charge in
which modification is made, and the details of the modification |
Not Applicable |
AS PER WEBSITE
Profile
Established in 1962, Tata International has evolved from an export house into
an international marketing company with a global turnover of US$1.6 billion in
2005-6. Its operations are organized into two business lines — Leather and
Engineering. With the worldwide reach provided by a well-integrated network
that spans major global trade blocs, the company has strengthened its
capability to source globally, deliver world-class quality, work with global
brands, and has developed some key international alliances for sustaining
future growth. The company exports to more than 100 countries, with its major
markets being Europe, the ASEAN countries, West Asia, the Far East, and Africa.
Tata International's operations are organized into five global businss units
(GBUs). These include:
Leather and leather
products:
Tata International is India's
leading leather and leather-products exporter
and supply chain integrator. Its value chain encompasses global sourcing,
world-class manufacturing in India and China, design studios in Europe,
strategic alliances, marketing, and world-renowned brands as clients. Its
state-of-the-art manufacturing facility at Dewas (in India) is among the top
three worldwide for goat skin and was the first in the leather industry in Asia
to be ISO 9000 and 14000 certified. The R&D here has made internationally
acknowledged breakthroughs in processing chrome-free leather and generating
energy from solid waste.
Engineering:
The engineering business unit is involved in
international marketing, global sourcing, distribution and supply chain
management in the engineering domain including the sectors of mining, railways,
power, steel, aluminum, agriculture and automotive accessories. The engineering
unit has agreements with manufacturers in India, China and other countries for
marketing and representation in select markets.
Chemicals:
Tata International's chemicals division supplies
chemicals spanning applications in pharma, food, paints and textiles to glass
and mining, offering a wide range of product lines and services.
Services
In the
services sector, Tata International provides a comprehensive set of services,
from marketing and marketing intelligence, manufacturing and sourcing,
financing, documentation, warehousing, logistics and delivery, to effective
management of global supply chains and customer relationship management.
Global operations
The
global reach provided by a well-integrated network and infrastructure of
subsidiaries, offices and associate Tata companies allows Tata International to
source competitively. This network includes subsidiaries in Hong Kong, United
Arab Emirates, Australia, South Africa, Zambia, Zimbabwe, Mozambique, Namibia,
Tanzania, Uganda and Ghana. Additionally, Tata International has offices in
India, Thailand, Bangladesh, Saudi Arabia, China, Singapore, United Kingdom and
Uruguay.
The company and its subsidiaries worldwide have
taken on various value-added roles and have stakes in a cross-section of
businesses. It has stakes in a five-star hotel, bus body building and trailer
manufacture, distributorships, and IT ventures; it has customer support
facilities for Tata vehicles and design studios for leather.
Joint ventures:
Ø
Tata Holset with Holset Engineering, UK and Tata Motors for the
marketing and manufacture of turbochargers.
Ø
Tata Precision Industries, India with Tata Precision Industries,
Singapore, for the marketing and manufacture of precision engineering
components.
Ø
Graziella with Pucci SRL, Italy, for the manufacture of leather
footwear.
Ø
Tata Africa Holdings, South Africa with Consilience Technologies,
South Africa for information technology.
Ø
Tata Motors with Automobile Corporation of Goa.
Ø
Tata Ceramics with Tata Power.
Ø
With Imperial Group (South Africa) for distribution and marketing
of pick-ups in South Africa.
Ø
Zamil Tata (Intl) Information Services with Al-Zamil Group of
companies for IT marketing.
Ø
Tata International DLT with M/s Dutch Lanka Trailer Manufacturers,
Sri Lanka, for manufacturing / assembly of trailers for the Indian market.
Ø
With Gruppe Vecchia Toscana (GVT), Italy, for fashion leathers.
Strategic alliances:
Ø
With Itochu, Australia, for marketing mining-related consumables
and chemicals.
Ø
With Asia Trading SA (ATSA), Chile, for marketing and sourcing
arrangement for Chile and other Latin American countries.
Ø
With Al-Zamil Group of companies for marketing in Saudi Arabia.
Ø
With The Turbo Genset Company (TGC), UK, for business development
of innovative 'distributed generation' products and solutions for India, Sri
Lanka and Bangladesh.
Ø
With Oxalaga SRL, Romania, for marketing of finished leather and
leather products in Romania.
Ø
With Martinez Group, Spain, for marketing Tata leather products in
Spain and Martinez leather products in Asia.
Ø
With Lloyd Shoes GmbH (Germany) to jointly manufacture footwear
products for Europe and market Lloyd branded shoes and accessories in India.
Ø
With SYP Kangqiao Autoglass Company Limited, China, for exclusive
marketing of automotive glass in India, Iran and South Africa.
Ø
With M/s International Tractors Ltd, Hoshiarpur, India for
exclusive marketing of agricultural tractors in select countries in Africa and
Latin America.
In tune with the Tata ethos, the R&D division of Tata International's
leather GBU, the company's only manufacturing operation, fosters projects that
look at the future needs of the leather industry, such as processes
for chrome-free leather, eco-labeling of finished leather products (as per the
Indian government's Bureau of Indian Standards), and gainful utilization of
solid waste for energy generation and resource recycling.
Tata International's in-house R&D division
is recognized by the Indian government's Ministry of Science and Technology and
its patented 'biomethanation' project for securing energy from tannery effluent
solid
waste and was done under the United Nations Development Programme's General
Environmental Fund. The company has also developed its own technologies for
leather processing and finishng and for import substitution of chemicals.
Corporate social
responsibility
Tata International is a signatory to the United Nations' Global Compact initiative.
In keeping with the Tata Group's philosophy, Tata International has initiated a
series of measures that support the conservation and rejuvenation of the
environment and natural resources. It also supports communities around its
facilities through work-life balance training programmes, the renovation and
upkeep of a village school, and corporate volunteering with non-governmental
agencies at various locations. In addition, the company offers financial
assistance to various non-governmental agencies working in the fields of
education, healthcare, medical research, social welfare and environmental
consciousness.
The company's initiatives on the ecological
front are mainly at its leather manufacturing facility at Dewas. These include
forestation projects, water conservation efforts, the setting up of a
sophisticated effluent treatment plant, as well as effective solid- and
liquid-waste management. The Dewas complex is ISO-14001 compliant and has one
of India's largest solar thermal water heating systems to preheat boiler feed
water, as also a patented biomethanation plant for generating fuel gas and
recovering chrome.
Ø
Multiple winner of Council of Leather Exports awards since 1984.
Ø
Rajiv Gandhi Award for Environment Protection in 2002.
Ø
Rajiv Gandhi National Quality Award in 2000.
Ø
Multiple winner of MODEUROP colour selection in 1998-2006.
Ø
Madhya Pradesh Govt Environment Award for Best Environment
Practices in 2005.
Ø
TERI Environment Award for Environment Excellence in 2005.
Ø
Eco Mark for Finished Leather from Bureau of Indian Standards
Ø
(BIS).
Ram Balasubramaniam appointed president, Tata
International
July 19, 2006
Ram Balasubramaniam
is the new president of Tata International
Ram Balasubramaniam took over as president of
Tata International Limited on July 17, 2006. Mr Bala was formerly the chief
executive and director of Tata Zambia, a subsidiary of Tata International. He
is also director of Pamodzi Hotel Plc, Zambia and the Malawi branch of Tata
Zambia. In addition, he has been Chairman, Board of Advisors of UN Global
Compact, Zambia. He was also involved in setting up Tata operations in
Zimbabwe, Namibia and other African countries. He has been with the Tata Group
for 24 years.
Sudhir Deoras, the former managing director of
the company has moved to take up a senior position in another Tata Group
company.
Tata International signs agreement with SYP,
China for performance glass
June 8, 2006
Tata International (TIL) and Shanghai Yaohua
Pinkington Glass, (SYP) signed an agreement on June 5, 2006, for exclusive
marketing and distribution of SYP glass in India. Li Liangzuo, director and
general manager, SYP and Sudhir Deoras, managing director, TIL, were the
signatories to the agreement.
Shanghai Yaohua Pinkington Glass, (SYP) founded
in 1983, is one of the leading manufacturers in China for float glass,
architectural glass and auto glass. This company was formed as a JV with
Pilkington, UK. In 1993 the company went public and became the first publicly
listed glass manufacturer in China.
SYP has four float glass plants operating in
China with a combined turnover of US$ 230 million and a capacity of 650,000
tons per annum. The company perseveres in its philosophy of "the pursuit
of continuous improvement" and adopts the strategy of developing or
introducing the most technologically advanced products in the market. Guided by
market demand and continuous new product development, the technical standard of
SYP’s products have always been ahead of its rivals in China. The float glass,
enameled glass, double-glazing glass, laminated glass, coating glass and mirror
plates of SYP were appraised to be Shanghai Renowned Products in 1999. The
Low-E Coating Glass was awarded the third prize of the Shanghai Science &
Technology Development in 2000. Many prestigious buildings in China and around
the world (US, Middle East, Asia) have been constructed using SYP glass.
In July 2000, SYP received the ISO14001
certification from SGS and became the first glass manufacturer in China to
obtain this internationally acknowledged green pass.
The market for float glass in India is growing
very fast with most of the commercial buildings and shopping malls using float
glass. Only five float glass manufacturers operate in India compared to over
150 in China.
SYP and Tata International will jointly focus on
the large commercial / office building projects which use performance glass
such as reflective, low-emissivity, tempered, double glazing, etc.
CMT REPORT
[Corruption, Money laundering & Terrorism]
The Public Notice information has been collected from
various sources including but not limited to: The Courts, India Prisons
Service, Interpol, etc.
1] INFORMATION ON DESIGNATED PARTY
No
exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that
subject is or was the subject of any formal or informal allegations,
prosecutions or other official proceeding for making any prohibited payments or
other improper payments to government officials for engaging in prohibited
transactions or with designated parties.
3] Asset Declaration :
No
records exist to suggest that the property or assets of the subject are derived
from criminal conduct or a prohibited transaction.
4] Record on Financial Crime :
Charges or
conviction registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with Government :
No record exists to
suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market survey
revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report
:
No press reports / filings exists on the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments
on Corporate Governance to identify management and governance. These factors
often have been predictive and in some cases have created vulnerabilities to
credit deterioration.
Our Governance Assessment focuses principally on the
interactions between a company’s management, its Board of Directors,
Shareholders and other financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local
laws, regulations or policies that prohibit, restrict or otherwise affect the
terms and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.27 |
|
UK Pound |
1 |
Rs.86.71 |
|
Euro |
1 |
Rs.57.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
10 |
|
PAID-UP
CAPITAL |
1~10 |
10 |
|
OPERATING
SCALE |
1~10 |
10 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
10 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT
LINES |
1~10 |
9 |
|
--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 |
|
86 |
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 |