MIRA
INFORM REPORT
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Report Date : |
14.07.2007 |
IDENTIFICATION DETAILS
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Name : |
DU - PONT INDIA LIMITED |
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Registered Office : |
220, D-288/10, Laxmi Nagar, Delhi-110092 |
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Country : |
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Financials (as on) : |
31.03.2002 |
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Date of Incorporation : |
18.05.1994 |
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Com. Reg. No.: |
55-59106 |
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CIN No.: [Company
Identification No.] |
U74899DL2004PLC059106 |
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Legal Form : |
Deemed Public Limited Company |
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Line of Business : |
Subject is engaged in business of Management and Legal Services. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 100 |
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Status : |
Poor |
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Payment Behaviour : |
-- |
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Litigation : |
Exists |
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Comments : |
Subject is an old company, but its activities have been stayed by the Honorable
High Court of Delhi, due to litigation filed by E.I. Du -Pont de Numerous
Delaware, USA. The company can be considered for any business dealings on fully safe
and secured trade terms and conditions. The company can be ignored for any worthwhile business dealings. |
LOCATIONS
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Registered Office : |
220, D-288/10, Laxmi Nagar, Delhi-110092, |
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Tel. No.: |
91-124-2540900/ 2540875-885 |
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Fax No.: |
91-124-2540889-92 |
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E-Mail : |
DIRECTORS
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Name : |
Ms. Sudha Maheshwari |
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Designation : |
Director |
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Date of Birth/Age : |
20.04.1959 |
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Date of Appointment : |
18.05.1994 |
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Name : |
Mr. Rakesh Kumar Maheshwari |
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Designation : |
Director |
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Date of Birth/Age : |
09.11.1956 |
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Date of Appointment : |
18.05.1994 |
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Name : |
Ms. Kanika Maheshwari |
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Designation : |
Director |
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Date of Birth/Age : |
24.04.1981 |
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Date of Appointment : |
15.01.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Ms. Sudha Maheshwari |
100 |
14.29 |
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Mr. Rakesh Kumar Maheshwari |
100 |
14.29 |
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Ms. Kanika Maheshwari |
100 |
14.29 |
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Ms. Satyawati Devi |
100 |
14.29 |
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Mr. Laxmi Narain Maheshwari |
100 |
14.29 |
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Mr. Satya Narain Maheshwari |
100 |
14.29 |
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Mr. Manu Kumar Chandak |
100 |
14.29 |
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Total |
700 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in business of Management and Legal Services. |
GENERAL INFORMATION
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No. of Employees : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Arun Ketan & Associates Chartered Accountants |
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Address : |
101, CSC, Pushpanjali, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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700 |
Equity Shares |
Rs.10/- each |
Rs.0.007
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2002 |
31.03.2001 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.007 |
0.007 |
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2] Share Application Money |
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0.032 |
0.032 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.039 |
0.039 |
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NETWORTH |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.039 |
0.039 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.015 |
0.015 |
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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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0.000 |
0.000 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.004 |
0.005 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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0.004 |
0.005 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.005 |
0.005 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.005 |
0.005 |
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Net Current Assets |
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(0.001) |
0.000 |
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MISCELLANEOUS EXPENSES |
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0.007 |
0.007 |
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Deferred Revenue Expenses |
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0.018 |
0.017 |
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TOTAL |
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0.039 |
0.039 |
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Remarks :
v
The accounts of the company are based on Mercantile
System
v
The legal case has been initiated by E.I. Du-Pont
de Numerous
v
The company is a Management and Legal Services
Company but the activities of the company has been stayed by the Honourable
Delhi High Court hence report on this is not required.
KEY RATIOS
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PARTICULARS |
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31.03.2002 |
31.03.2001 |
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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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0.13 |
0.13 |
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Current Ratio (Current Asset/Current Liability) |
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0.80 |
1.00 |
LOCAL AGENCY FURTHER INFORMATION
Operation Details
:
Incorporated on 15.05.1994 the subject is engaged in the business or vacation
of acting as advisory and consultants on all matters and problems relating to
the Technical, Industries, Civil Administration, Finance and Organization
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 exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.47 |
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1 |
Rs.82.08 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
1 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
-- |
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--LEVERAGE |
1~10 |
-- |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
-- |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
NO |
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TOTAL |
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4 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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