MIRA
INFORM REPORT
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Report Date : |
07.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MICROPRO SOFTWARE SOLUTIONS PRIVATE LIMITED |
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Registered Office : |
“Mangalam”, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.09.1996 |
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Com. Reg. No.: |
11-102385 |
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CIN No.: [Company
Identification No.] |
U7220MH1996PTC102385 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NGPM00857D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Software Services. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 50000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered/ Administrative Office/ Hardware Division: |
Rajurkar Bunglow, Zenda Chowk, Dharampeth, |
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Tel. No.: |
91-712-2541802 |
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Fax No.: |
91-712-2550208 |
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E-Mail : |
hardware@microproindia.com, micropro-ngp@sancharnet.in, hparikh@microproindia.com |
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Website : |
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Software Development Division : |
“Mangalam”, |
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Tel. No.: |
91-712-2527027/ 2539156 |
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Fax No.: |
91-712-2527027/ 2539156 |
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E-Mail : |
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Branches : |
SUPPORT LOCATION
‘Thakur Niwas’, Plot No. 140, Balaji Mandir Road, Anand Nagar, Raipur – 492 001, Madhya Pradesh, India |
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Tel. No.: |
91-771-4076882/ 2428889/ 4076889 |
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Mobile No.: |
91-9300205462 |
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Fax No.: |
91-771-2428889 |
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E-Mail : |
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Location : |
Rented |
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Overseas Office
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Turrino - Software Division |
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Tel. No.: |
06 - 5654082/ 5641492 |
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Fax No.: |
06 5642531 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Hitesh Dhiraj Parikh |
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Designation : |
Whole Time Director |
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Address : |
502, Shivaji Nagar,
Dharampeth, |
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Date of Birth/Age : |
02.01.1964 |
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Date of Appointment : |
05.09.1996 |
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Name : |
Mr. Sanjay Y. Mokashi |
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Designation : |
Whole Time Director |
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Address : |
Bhagwaghar Layout,
Dharampeth, |
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Date of Birth/Age : |
05.07.1963 |
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Date of Appointment : |
05.09.1996 |
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Name : |
Mr. Prashant R. Rajurkar |
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Designation : |
Whole Time Director |
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Address : |
Zenda Chowk,
Dharampeth, |
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Date of Birth/Age : |
02.02.1963 |
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Date of Appointment : |
05.09.1996 |
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Name : |
Mr. Mehar S. Pophali |
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Designation : |
Whole Time Director |
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Address : |
5, Vanjari Nagar, |
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Date of Birth/Age : |
20.04.1967 |
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Date of Appointment : |
29.09.1996 |
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Name : |
Mrs. Meenakshi S. Mokashi |
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Designation : |
Whole Time Director |
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Address : |
Bhagwaghar Layout, Dharampeth,
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Date of Birth/Age : |
22.12.1972 |
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Date of Appointment : |
17.09.1996 |
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Name : |
Mrs. Shefali H. Parikh |
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Designation : |
Whole Time Director |
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Address : |
502, Omshree Apartment,
Shivaji Nagar, |
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Date of Birth/Age : |
21.03.1965 |
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Date of Appointment : |
17.09.1996 |
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Name : |
Mr. Vinod Patel |
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Designation : |
Director |
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Address : |
Anand Bhawan,
Lakadganj, |
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Date of Birth/Age : |
08.07.1969 |
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Date of Appointment : |
17.09.1996 |
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Name : |
Mr. Manish Peshkar |
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Designation : |
Whole time Director |
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Address : |
60/B, RBI Colony, Jaiprakash Nagar, Khamla, |
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Date of Birth/Age : |
31.05.1970 |
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Date of Appointment : |
01.01.2003 |
KEY EXECUTIVES
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Name : |
Mr. Shashank Pujari |
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Designation : |
Vice President Marketing |
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Name : |
Mr. Santosh Iyer |
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Designation : |
Business Development Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Hitesh Parikh |
3650 |
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Mr. Sanjay Mokashi |
1600 |
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Mr. Prashant Rajurkar |
1400 |
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Ms. Meenakshee Mokashi |
3850 |
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Ms. Swati Rajurkar |
3950 |
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Ms. Shefali Parikh |
1800 |
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Mr. Meher Pophali |
3150 |
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Mr. Vinod Patel |
2800 |
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Mr. Manish Peshkar |
2800 |
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Total |
25000 |
All the shares are held by directors or their relatives.
BUSINESS DETAILS
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Line of Business : |
Providing Software Services. |
GENERAL INFORMATION
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Suppliers : |
Ø Wipro Systems Limited, Mumbai Ø
Unilogic Systems ( Ø
Sonata Software Limited, Worli, Mumbai, Ø
Business Algorithum Private Limited, Ø
Digital Equipment ( Ø
Datapro Info World Limited, Pune, Ø
Datatronics Systems Private Limited, Ø
Electronic Resources ( Ø
Godrej Pacific Technology Limited, Mumbai, Ø
Shell Advt. Inc., |
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Customers : |
v Bharat Heavy
Electrical Limited v National Thermal
Power Corporation Limited v Western
Colfields Limited v v Bhansali
Engineering Limited v NECO Group of
Industries v Haldirams Food
International Limited v Dinshwas Frozen
Foods v VIP Industries
Limited v Blowplast
Ergonomcs (VIP Group) v Sunflag Iron and
Steel Limited v Ferro Alloys
Corp. Limited v DCL Polyster
(Reliance Group) v Zulekha Group of
Hospital v Hindustan Lever
Limited v Vivekanand
Arogya Dham v Reserve Bank of v Tuli
International v Agricultural
Product Marketing Committee v Lokmat News
Paper v All v Jaika Motors
Limited v Provincial
Automobiles v Signet Services v Safeway Motors v BHEL [Northen
Region v United E-World v Haldirams Food
International Limited v Raisoni Groups |
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No. of Employees : |
22 |
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Bankers : |
Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Banthia Damani & Associates Chartered Accountants |
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Address : |
SO-8, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/-
each |
Rs.2.500
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.500 |
2.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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10.829 |
9.246 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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13.329 |
11.746 |
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LOAN FUNDS |
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1] Secured Loans |
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6.307 |
2.892 |
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2] Unsecured Loans |
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4.654 |
5.661 |
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TOTAL BORROWING |
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10.961 |
8.553 |
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DEFERRED TAX LIABILITIES |
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1.118 |
1.060 |
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TOTAL |
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25.408 |
21.359 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.212 |
6.726 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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1.016 |
0.015 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.895 |
0.776 |
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Sundry Debtors |
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24.402 |
19.761 |
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Cash & Bank Balances |
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1.423 |
1.377 |
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Other Current Assets |
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1.857 |
1.669 |
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Loans & Advances |
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4.471 |
2.266 |
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Total
Current Assets |
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33.048 |
25.849 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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15.904 |
10.437 |
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Provisions |
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0.964 |
0.795 |
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Total
Current Liabilities |
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16.868 |
11.232 |
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Net Current Assets |
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16.180 |
14.617 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.001 |
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TOTAL |
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25.408 |
21.359 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 (Estimated) |
31.03.2005 (Estimated) |
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Total Income |
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25.000 |
20.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.09 |
1.68 |
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Current Ratio (Current Asset/Current Liability) |
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1.96 |
2.30 |
LOCAL AGENCY FURTHER INFORMATION
Form 8 Particular for
creation or modification of charges
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Name of the company |
MICROPRO SOFTWARE
SOLUTIONS PRIVATE LIMITED |
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Presented By |
Bank of Baorda, Dharampeth, |
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1) Date and description of instrument creating the change |
Dated : 30.03.1998. Hypothecation agreement (Hypothecation of goods and book debts) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.000 millions |
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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 goods and book debts |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per hypothecation agreement : Cash Credit : Rs.2.000 millions Repayment : Renewable every year. Interest : as per RBI rule. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Dharampeth Main Branch, |
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6) Date and brief description of instrument modifying the charge |
Dated 17.08.2000 Hypothecation agreement LDOC 17A (Both documents constitute for single charge as and by way of first modification) |
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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. |
At the request of the borrower, the bank has enhanced the existing cash credit limits by Rs.1.000 millions, from Rs.2.000 millions to Rs.3.000 millions, to secured the due repayment of the above limits along with interest and other charges thereon, the borrower has created first charge and hypothecation of : A] The whole of the borrower’s stocks, both present and future and including but without pre judice to the generality of the foregoing words, all stocks of raw materials, work in process, semi finished goods and finished goods such as computers and compute related materials (Hardware/ Software) packing materials and stores etc. whatsoever and wheresoever situate and/ or in transit whether now belonging to or that may at any time during the continuance of this security belong to the borrower or that maybe held by any party anywhere to the order and disposition of the borrower. B] all the present and future book debts, outstanding monies receivable, claims bills, contracts, engagements and securities which are now due and owing or which may at any time hereafter during the continuance of this course of tits business by any person, firm, company or body corporate or by the Government of India or any State Government or Indian Railways or any Government or semi Government body or authority whatsoever including those relating to the assets leased out and/ or given on hire purchased basis. C] All the tangible movable machinery and plant and cranes boats and crafts and the vehicles of the borrower together with spares, tools and accessories and other movables, both present and future and the furniture fixtures and fittings and officer equipments whether installed of not and whether lying loose of in cases which are into or be stored or be in or upon or about the borrower’s premises and godowns or wherever else the same may be or be held by any party to the order or disposition of the borrower (including those on lease of hire purchase) relating or pertaining to the borrower’s residence/ shops/ godowns and factory. Other terms and conditions as per loaning documents. The total charge modified from Rs.2.000 millions to Rs.3.000 millions. |
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Name of the company |
MICROPRO
SOFTWARE SOLUTIONS PRIVATE LIMITED |
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Presented By |
Mr. Prashant Rajurkar |
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1) Date and description of instrument creating the change |
Hypothecation agreements dated 20.03.1998. (hypothecation of goods and book debts) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.000 millions |
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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 goods and book debts. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per hypothecation agreement. Cash credit : Rs.2.000 millions Repayment : Renewable every year Interest : As per RBI rules. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
BUSINESS
Subject is engaged in trading and dealing in computer software/hardware accessories and services.
Subject is incorporated to carry on the business of developing, processing, producing or otherwise buying, importing, exporting and dealing either as a distributor or as a franchise or in any other way in all kinds of software.
The company provides end-to-end IT solutions to every business. It offers vast range of products, services and system integration solutions. It also provide total IT solutions for offshore and domestic markets.
The company’s bouquets of product and services spans the following areas :-
Ø Computers
Ø Networking
Ø Storage Devices
Ø Software reselling
Ø Customised Software Development
Ø Web Applications
Ø ERP Implementation
Ø Pharma 2000
Ø HRD Soft
Pharma – 2000 Subject’s one of the flagship product specially designed pharmaceutical stockist and distributors. The software takes care of complete pharmaceutical business. It is a multi – company, multi user package, it makes inventory and financial accounting extremely convenient. This software is successfully running from last 11 years are continuously refined and upgraded and today it had an installed base than 1000.
HRD Soft was the complete solution for medium and large organization managing HR functions effectively. It was user-defined rule-based web-enabled software build using Oracle, a relational database management system.
Industry specific solutions in the following segments :-
Y Automobile
Y Hospital
Y Departmental Stores
Y Showroom
Y Hotel
Y Restaurant
Alliances :-
Y Compaq Enterprise Reseller and Service Partner
Y Wipro Channel Partner
Y Member of Oracle Partner Program
Y Microsoft Certified Solutions Provider
Y ERP Implementation Partner for Manufacturing / Programming
Y System Integrators of Sybase and Powerbuilder
Following services are provided by the company :-
Y Customised Software Development
Y ERP Implementation
Y
Y Wireless and Web Application
Y Software Quality Assurance
Y Facility Management
The solutions provided by the company are :-
Network and Communication
Offer following Networking Services -
- Network Architecture
- Design and Planning
- Deployment of network
- Upgradation of networks
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Security, Firewall & Mail Management
Offers following services –
- Administration of MS Exchange, Lotus Notes, Linux mail Server
- Monitoring mail queues
- Management of internet/intranet mail systems
- Implementation of mail policies and Network security.
Migration of Legacy system to Web/E-Business
It’s capabilities include expertise in application servers including BEA weblogic, ATG Dynamo, Microsoft Transaction Server, IBM websphere and Oracle 9iAS and the industry standard frameworks CORBA, COM/DCOM and enterprise java beans.
The company has Enterprise Reseller and Service Partnership with Compaq, Wipro and Oracle.
During the year under report, the company achieved a sales turnover of Rs. 29.261 millions and profit before tax is Rs. 1.494 millions. Owing to some recession developed in the demand of products in between the year and some market saturation performance and profit were little bit adverse as compared to the preceding year still company’s overall performance had been satisfactory.
The company’s fixed assets of important value include computers, furniture and fixtures, building, vehicles, electrical installation and air conditioners.
Website Details :
Subject is a specialist in providing premium quality information
technology solutions and services to the global industrial market
Subject is a leader in providing clients with much needed industry specific as
well as skill specific expertise during the resource critical phases of their
projects
Company understand that an effective and efficient implementation of clients
software application is the key to reaching their business objectives. A
company’s team of a high caliber & strong domain knowledge people in
combination of company’s alliances with Oracle, Microsoft, QAD, Sybase enables
it to provide the cost-effective services on all leading software platforms
Subject offers services Enterprise Web Application development, Wireless
Development, Client Server Development, Large System Application Development
& Maintenance, Re-Engineering Legacy Applications to Client/Server
Technology, IT consulting, Web Enabling and contract programming on all leading
software platforms
It employs over 100 professionals in its offshore & domestic development
centers in India & UAE.
Company’s key strengths are commitment to total customer satisfaction, high quality
professionals, multinational resource pool, availability, flexibility,
reliability and fast turnaround.
It has expertise in Internet/Intranet/Extranet, Databases, Windows NT, LINUX
with sound domain knowledge of various business segments
Micropro & Turrino Group UAE has entered into agreement which
provides software development services for the clients in Arab Continental
The company has its business development headquarter in
Corporate Overview
Started way back in 1988, head quartered in central Indian city Nagpur, Subject
is managed by a group of dedicated professionals & is successfully provided
IT solutions to a prestigious list over 1500 clients. Subject is certified ISO
9001 : 2000 and Software Technology Park of India (STPI) registered company
Subject is a provider of premium quality software development and testing
services to various clients worldwide. The company has more than 16 year track
record of successfully implementing information technology projects for medium
and large companies and has a best-of-breed team of seasoned IT professionals.
Their key strengths area unique blend of onsite and offshore implementation,
talented professionals, and innovative project management methodologies
They at Subject generate solutions that provide a fusion of business practices
and technology strategies. Their approach focuses on implementing seamless
solutions for the business needs. Over the years, they have leveraged their
position in the global market with an enviable list of clients and a phenomenal
growth rate achieved through IT innovation, dedicated teams and timely
implementation of solutions
Profile
Subject provides end to end IT solutions to every business. They offer vast
range of Products, services and systems integration solutions. Subject is a
leading organisation providing Software Development, consultancy Marketing and
services in the knowledge of intensive information Technology area
Subject is certified ISO 9001 : 2000 and Software Technology Park of India
(STPI) registered company. Started way back in 1988, head quartered in central
Indian city Nagpur, Subject is managed by a group of dedicated professionals
& has successfully provided IT solutions to a prestigious list over 1500
clients. Having growth of more than 50% turnover every year and total manpower
of more than 150 is one of the preferred vendor by choice
Subject is a provider of premium quality software development and testing
services to various clients worldwide. The company has more than 16 years of
track record of successfully implementing information technology projects for
medium and large companies and has a best-of-breed team of seasoned IT
professionals. Their key strengths are a unique blend of onsite and offshore
implementation, talented professionals, and innovative project management
methodologies.
Subject was founded with a mission to provide premium quality software services
and to be software development partner of choice for its clientele worldwide.
The company to its credit has extensive experience in developing, modifying and
enhancing medium to large-scale software applications
It also provides services like Web development, Client Server development,
large systems applications development and maintenance. Re-engineering legacy
applications to client/server technology, IT consulting, Web enabling, ERP
implementation and contract programming. Today, Subject’s key strengths are
commitment to total customer satisfaction, high quality professionals, a
multinational resource pool, availability, flexibility, reliability and fast
turnaround. It has built for itself an expertise in Internet/
Intranet/Extranet, Database, Windows NT, Linux, Sun Solaris
Products
Subject has developed
Subject has also oracle based products which are registered with oracle and are
ASFU ( Application Specific Full Use ) Partner of Oracle
PRODUCT LIST FOR DIFFERENT DOMAINS IS AS FOLLOWS :
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HospyCare |
A Complete Hospital Management Information System |
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AIMS |
Academic Information Management System |
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Autosys |
A Complete Automobile Dealer Management Software |
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Pharma 2000 |
A complete Software for Pharmaceutical Wholesellers |
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Rx2000 |
A Software for Pharmaceutical retail shop |
|
Finpro V2 |
A Comprehensive Software For Finance & Inventory. |
|
Jewelpro |
A Software for Jewellary Manufactures, Jewellary Traders &
Money Lenders. |
|
EnergySys |
Energy Monitoring System for power plan. |
|
MallSoft |
For Departmental Store and Showroom |
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HRDSoft |
For Human Resource & Administration |
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HotelCare |
For Hotel Management |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.46 |
|
|
1 |
Rs.81.29 |
|
Euro |
1 |
Rs.54.96 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|