MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MEGHA ROTO TECH PRIVATE LIMITED |
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Registered Office : |
Shed No.
C 1/A-4, GIDC, Near AEC Sub Station, Odhav, Ahmedabad - 382415, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
07.09.2005 |
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Com. Reg. No.: |
46731 |
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CIN No.: [Company
Identification No.] |
U31100GJ2005PTC046731 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMM07122D |
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PAN No.: [Permanent
Account No.] |
AAECM4133D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and exporters of brake motors, fhp geared motors,
torque motors, vibrators, cooling tower motors etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 300 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade relations
are reported as fair. Business is active. Payments are reported as slow but
correct. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Shed No.
C 1/A-4, GIDC, Near AEC Sub Station, Odhav, Ahmedabad - 382415, |
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Tel. No.: |
91-79-22872373
/ 22891816 / 22971063 |
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Mobile No.: |
91-9825018897 |
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Fax No.: |
91-79-22872373 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Atul Patel |
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Designation : |
Managing Director |
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Address : |
27, |
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Date of Appointment : |
07.09.2005 |
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Name : |
Mr. Dhruvil Atul Patel |
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Designation : |
Director |
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Address : |
27, |
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Date of Birth/Age : |
27.10.1987 |
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Date of Appointment : |
01.10.2006 |
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Name : |
Mrs. Megha Patel |
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Designation : |
Director |
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Address : |
27, |
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Date of Appointment : |
07.09.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Equity Share
Breakup |
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and exporters of brake motors, fhp geared
motors, torque motors, vibrators, cooling tower motors etc. |
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Products : |
·
A.C Electric Motors ·
Brake Motors ·
FHP Geared Motors
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Loom Motors ·
Torque Motors ·
Vibrators ·
Cooling Tower Motors ·
Crane and Hoist Duty Motors ·
Face Mounted Motors ·
Flange Mounted Motors ·
Lift Duty Motors
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Hollow Shaft Motors ·
SS Shaft Motors ·
Complete Motor with Stainless Steel Body and
End Covers ·
Inverter Duty Motors ·
Low Vibration Motors |
GENERAL INFORMATION
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No. of Employees : |
45 |
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Bankers : |
The Ahmedabad Mercantile
Co-operative Bank Limited |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. K. Sadhwani and Company Chartered Accountants |
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Address : |
307, Labh Complex, Sattar Taluka Society, Navjivan P. O., Ahmedabad –
380012, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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20,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.200
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.200 |
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2] Share Application Money |
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0.100 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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[0.215] |
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NETWORTH |
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0.085 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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3.386 |
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TOTAL BORROWING |
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3.386 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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3.471 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.445 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.086 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.712 |
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Sundry Debtors |
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6.622 |
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Cash & Bank Balances |
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0.872 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.129 |
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Total
Current Assets |
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10.335 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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10.519 |
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Provisions |
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0.001 |
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Total
Current Liabilities |
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10.520 |
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Net Current Assets |
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[0.185] |
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MISCELLANEOUS EXPENSES |
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0.125 |
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TOTAL |
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3.471 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover [Estimated] |
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5.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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163.60 |
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Current Ratio (Current Asset/Current Liability) |
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0.98 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 15, Pragati
Estate, opposite Jagannath Estate, Near Gujarat Bottling, Rakhial, Ahmedabad –
380023,
PROFILE
Subject is growing ISO:9001:2000 & 'CE'
approved motors manufacturing and export company engaged in the making of
various types of Motors ranging from A.C Electric Motors, Brake Motors,
FHP Geared Motors, Loom Motors, Torque Motors, Vibrators, Cooling Tower Motors,
Crane and Hoist Duty Motors, Face Mounted Motors, Flange Mounted Motors,
Electric Motors, Lift Duty Motors, Hollow Shaft Motors, SS Shaft Motors,
Complete Motor with Stainless Steel Body & End Covers, Inverter Duty
Motors, Low Vibration Motors, and Motors as per customer requirements.
Established in 1997, the company, under the able stewardship of respectable
Managing Director Mr. Atul Patel, has progressed to new heights in a short span
of just eight years. Apart from dealing in the standard and non standard motors
from 0.1 H.P to 50 H.P, the company also manufactures and exports standard and
special motors up to 225 frames.
Infrastructure
Well
equipped with state-of-the-art infrastructure and blessed with a team of
qualified and competent engineers and designers, their company manufactures
around 2200 pieces of quality motors per month. Manufactured as per IS standard
and interchangeable with any standard make motors, the company specializes in
manufacturing various motors like A. C Electric Motors, Brake Motors, FHP
Geared Motors, Loom Motors, Torque Motors, Vibrators, Cooling Tower Motors,
Crane and Hoist Duty Motors, Face Mounted Motors, Flange Mounted Motors, Lift
Duty Motors, Hollow Shaft Motors, SS Shaft Motors, Complete Motor with
Stainless Steel Body & End Covers, Inverter Duty Motors, Low Vibration
Motors, and Motors as per customer requirements. The company also manufactures
the above mentioned motors as per the requirements of the clients besides
manufacturing extended SS Shaft Motors for the pharmaceutical machinery.
With
about fourteen percent of export market, their quality motors have niche market
in major countries.
Their
assurance to the clients of international quality and prompt after sales
service has placed them as a responsible business unit.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject are
derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.33 |
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1 |
Rs.82.63 |
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Euro |
1 |
Rs.55.65 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
YES |
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TOTAL |
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27 |
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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