MIRA
INFORM REPORT
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Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
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Name : |
VISTEON AUTOMOTIVE SYSTEMS INDIA PRIVATE LIMITED |
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Formerly known as : |
ACD AUTOMOTIVE INDIA PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.03.1997 |
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Com. Reg. No.: |
18-37782 |
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CIN No.: [Company
Identification No.] |
U35911TN1997PTC037782 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEM02304B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Exporting of Parts and Accessories of Motor Vehicles and Air Conditioner Machines Comprising Motor Driven Fans and Elements. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 8700000 |
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Status : |
Good |
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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/ Corporate Office/ Factory : |
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Tel. No.: |
91-4114-254280/ 424280 |
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Fax No.: |
91-4114-253858/ 254375/ 453857/ 858/ 126 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Horst H Herzog |
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Designation : |
Director |
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Address : |
1, First Floor,
Riverview Apartments, |
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Date of Birth/Age : |
10.01.1938 |
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Date of Appointment : |
22.04.2007 |
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Date of Ceasing : |
01.10.1999 |
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Name : |
Mr. Steve Gawne |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
29.04.1955 |
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Date of Appointment : |
22.04.1987 |
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Date of Ceasing : |
07.12.2000 |
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Name : |
Mr. Sung Woo Oh |
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Designation : |
Director |
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Address : |
Eope Apartments,
303-501, Chumin Ding, Yusung Gu, |
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Date of Birth/Age : |
18.07.1952 |
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Date of Appointment : |
20.05.1987 |
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Date of Ceasing : |
18.03.2006 |
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Name : |
Mr. Bruce A Shallcross |
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Designation : |
9, Second Floor,
Riverview Apartments, |
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Address : |
15.07.1952 |
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Date of Appointment : |
30.06.1987 |
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Date of Ceasing : |
30.06.2000 |
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Name : |
Mr. Eric Mang |
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Designation : |
Whole time Director |
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Address : |
No.64, |
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Date of Birth/Age : |
16.04.1950 |
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Date of Appointment : |
29.11.2001 |
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Name |
Mr. Biran J. Tait |
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Designation |
Chairman & Managing Director |
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Address : |
# 1/F Plot 30 and 30A, Within limits of Akkarai, |
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Date of Birth/Age : |
14.10.1964 |
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Date of Appointment : |
08.08.2002 |
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Name |
Mr. Kenneth Miller |
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Designation |
Director |
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Address |
12400, |
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Date of Birth |
15.11.1948 |
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Date of Appointment : |
18.05.1998 |
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Date of Ceasing : |
29.11.2001 |
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Name |
Mr. J. S. Yoo |
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Designation |
Director |
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Address |
1 B, South Gate, 17-18, Kasturi Ranga Iyengar Road, Chennai – 600 018,
Tamil Nadu, India |
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Date of Birth |
30.09.1956 |
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Date of Appointment : |
20.05.1998 |
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Date of Ceasing : |
20.11.2001 |
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Name |
Mr. Mark Critz |
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Designation |
Chairman & Managing Director |
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Address |
Anusai Villa, Second and Third Floor, 8A, Crescent Street, Boat Club,
Chennai – 600 028, Tamil Nadu, |
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Date of Birth |
01.11.1950 |
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Date of Appointment : |
01.10.1998 |
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Date of Ceasing : |
08.08.2002 |
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Name |
Mr. George Peck |
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Designation |
Director |
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Address |
Street of Dreams, Hannon Dong 2, Yongsan Ku, |
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Date of Birth |
10.03.1945 |
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Date of Appointment : |
07.12.1999 |
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Date of Ceasing : |
20.11.2001 |
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Name |
Mr. Gopal Chandra Moulee |
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Designation |
Director |
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Address |
9, Bay View Drive, New Mahabalipuram Road, Akkarai, Chennai, Tamil
Nadu, India |
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Date of Birth |
22.12.1960 |
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Date of Appointment : |
24.06.1999 |
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Date of Ceasing : |
07.12.1999 |
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Name |
Mr. C. H. Lee |
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Designation |
Director |
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Address |
Flat 1E, First Floor, 182, |
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Date of Birth |
17.02.1954 |
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Date of Appointment : |
23.02.2000 |
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Date of Ceasing : |
27.09.2004 |
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Name |
Mr. N. K. Shah |
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Designation |
Director |
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Address |
9, River View, Second Floor, |
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Date of Birth |
15.09.1947 |
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Date of Appointment : |
30.06.2000 |
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Date of Ceasing : |
29.11.2001 |
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Name |
Mr. Douglas Reynolds |
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Designation |
Director |
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Address |
3, Samarpan, Flat 7, |
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Date of Appointment : |
30.06.2000 |
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Date of Ceasing : |
28.11.2001 |
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Name |
Mr. Tara Chand Jain |
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Designation |
Director |
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Date of Birth |
01.02.1945 |
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Address |
SP 818 A, Industrial Area, Phase II, Bhiwadi – 301 019, |
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Date of Appointment : |
17.02.1998 |
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Date of Ceasing : |
24.06.1999 |
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Name |
Mr. Bruce Crawford |
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Designation |
Director |
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Date of Birth |
03.04.1946 |
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Address |
16, |
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Date of Appointment : |
20.05.1998 |
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Date of Ceasing : |
30.06.2000 |
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Name |
Mr. Steve G. |
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Designation |
Director |
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Address |
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Date of Birth |
29.04.1955 |
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Name |
Mr. Robert Pallash |
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Designation |
Director |
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Address |
Minami-Aoyana, Minato, Ku, |
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Date of Birth |
02.09.1921 |
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Date of Appointment : |
28.11.2001 |
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Name |
Mr. N. S. Mohan |
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Designation |
Alternate Director to Robert Pallash |
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Address |
Atrium, Flat M 201, First Floor, |
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Date of Appointment : |
28.11.2001 |
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Date of Ceasing : |
08.08.2002 |
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Name |
Mr. Cliff Dawson |
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Designation |
Additional Director |
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Address |
101, Bella Saison Hiroo, |
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Date of Birth |
16.10.1949 |
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Date of Appointment : |
29.11.2001 |
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Name |
Mr. K. T. Choi |
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Designation |
Alternate Director to Mr. Sung Woo |
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Address |
18, |
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Date of Birth |
23.02.1960 |
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Date of Appointment : |
29.11.2001 |
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Name |
Mr. A. Viswanathan |
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Designation |
Director |
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Address |
B28, Palani Apartments, 146, |
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Date of Birth |
04.10.1962 |
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Date of Appointment : |
15.12.1997 |
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Date of Ceasing : |
29.11.2001 |
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Name |
Mr. D. Vardhan |
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Designation : |
Director (Alternate to Robert Pallash) |
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Address : |
3, Krish Apartments, Plot No. 2, Balambal Nagar, Thangal Street,
Virugambakkam, Chennai – 600092, Tamilnadu, India |
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Date of Birth |
06.03.1961 |
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Date of Appointment |
08.08.2002 |
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Name |
Mr. Y S Chol |
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Designation |
Alternate Director |
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Date of Birth |
07.05.1953 |
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Date of Ceasing : |
27.09.2004 |
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Name |
Mr. Y H Park |
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Designation |
Director |
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Date of Birth |
26.10.1956 |
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Date of Appointment : |
15.03.2005 |
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Name |
Mr. David Paborsky |
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Designation |
Additional Director |
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Address |
1919, |
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Date of Birth |
08.05.1967 |
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Date of Appointment : |
15.04.2006 |
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Other Directorships : |
Viseton Powertrain Control Systems India Private Limited |
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Name |
Mr. Murali |
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Designation |
Alternate Director |
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Address |
A-207, Mansarovar, 19, III, |
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Date of Birth |
26.10.1963 |
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Date of Appointment : |
15.04.2006 |
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Name |
Mr. B Swaminathan |
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Designation |
Director |
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Address |
Flat No. 7,Kaveri Apartments, Z-185, Anna Nagar, Chennai – 600040, |
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Date of Birth |
03.03.1963 |
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Date of Appointment : |
26.12.2006 |
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Other Directorship : |
Visteon Powertrain Control Systems India Private Limited CIN No. : U35911TN1997PTC037783 |
KEY EXECUTIVES
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Name : |
Mr. S. Sriram |
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Designation : |
Company Secretary |
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Address : |
17, |
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Date of Birth/Age : |
29.11.2001 |
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Date of Appointment : |
28.03.2003 |
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Name : |
Mr. R Brivashaan |
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Designation : |
Company Secretary |
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Address : |
17.07.1974 |
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Date of Appointment : |
30.12.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Viseton International Holdings Inc. |
124133300 |
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Halla Climate Control Corporation |
8088300 |
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Total |
132221600 |
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Equity Share
Breakup |
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Category |
Percentage of
Holding |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporting of parts and accessories of Motor vehicles and Air Conditioner Machines Comprising Motor Driven Fans and Elements. |
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Products : |
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Imports : |
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Countries : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Climate control products |
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Capacity would vary depending on products manufactured due to the
multiplicity of products. Hence it is not feasible to mention the capacity.
However there has been substantial expansion in capacity during the year
under review. |
-- |
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Clusters |
In Units |
|
250000 |
-- |
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Heater and Blower units |
Nos. |
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-- |
180184 |
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Radiators |
Nos. |
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-- |
254952 |
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Air con assembly |
Nos. |
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-- |
250020 |
GENERAL INFORMATION
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Suppliers : |
v
v
Srihari Auto Rubbers v
Sathya Auto Accessories v
Kowski Toolings v
Shubby Plastics |
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No. of Employees : |
430 |
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Bankers : |
v
ABN Amro Bank N.V.,191, v
The Hongkong and Shanghai Banking Corporation Limited,
30, Rajaji Salai, Chennai – 600 001, Tamil Nadu, v The machinery of the factory had been hypothecated for Rs. 400.000 v millions v
Bank of v
Deutsche Bank AG, |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Lovelock and Lewis Chartered Accountants |
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Address : |
32, |
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Memberships : |
Confederation of Indian Industry |
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Parent Company : |
v
Ford Motor Company, v
Halla Climate Control Corporation, |
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Holding Company : |
Visteon International Holdings Inc., |
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Associates/Subsidiaries : |
v All companies of Visteon Group v Viseton Power Control Systems India Private Limited [CIN No. : U35911TN1997PTC037783] v Visteon Sistemas Interiores Espana S L v Visteon Portuguesa Limited v Visteon Ardennes Industries, SAS v Viseton United Kingdom Limited v
Halla Climate Control Corporation, v Viseton Global Technologies Inc. v
Viseton Sistemas Automotives Limited, v Halla Climate Control Thailand Limited v Climate Systems Maxicana v
Duckyang v
Viseton Interior v Fuchang Climate Systems, china v
Visteon Aftermarket, v
Visteon Corporation, Fellow Subsidiaries
: v Viseton Power Control Systems India Private Limited v Climate Systems India Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
160,000,000 |
Equity Shares |
Rs.10/- each |
Rs.1600.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
132,221,600 |
Equity Shares |
Rs.10/- each |
Rs.1322.216 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1322.216 |
1422.216 |
1422.216 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
871.605 |
699.008 |
164.365 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2193.821 |
2121.224 |
1586.581 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
233.350 |
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2] Unsecured Loans |
112.390 |
61.383 |
9.544 |
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TOTAL BORROWING |
112.390 |
61.383 |
242.894 |
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DEFERRED TAX LIABILITIES |
142.008 |
169.999 |
103.342 |
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TOTAL |
2448.219 |
2352.606 |
1932.817 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1714.619 |
1791.989 |
1611.221 |
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Capital work-in-progress |
6.797 |
16.153 |
60.898 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
605.352
|
617.406 |
520.843 |
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Sundry Debtors |
867.855
|
686.862 |
563.208 |
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Cash & Bank Balances |
961.247
|
510.346 |
265.360 |
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Other Current Assets |
4.234
|
0.815 |
0.121 |
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Loans & Advances |
88.368
|
116.760 |
147.239 |
|
Total
Current Assets |
2527.056
|
1932.189 |
1496.771 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Current Liabilities |
1155.018
|
1117.929 |
1107.720 |
|
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Provisions |
645.235
|
269.796 |
128.353 |
|
Total
Current Liabilities |
1800.253
|
1387.725 |
1236.073 |
|
|
Net Current Assets |
726.803
|
544.464 |
260.698 |
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2448.219 |
2352.606 |
1932.817 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
5738.000 |
5167.323 |
4074.677 |
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Other Income |
47.000 |
98.987 |
47.696 |
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Total Income |
5785.000 |
5266.310 |
4122.373 |
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Profit/(Loss) Before Tax |
1141.000 |
1098.000 |
707.018 |
|
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Provision for Taxation |
364.000 |
413.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
777.000 |
685.000 |
707.018 |
|
|
|
|
|
|
|
|
Total Earnings |
59.000 |
53.990 |
2.990 |
|
|
|
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Imports : |
|
|
|
|
|
|
Raw Materials |
|
1850.020 |
1421.320 |
|
|
Stores & Spares |
2331.000 |
23.170 |
11.700 |
|
|
Capital Goods |
|
247.540 |
136.130 |
|
Total Imports |
2331.000 |
2120.730 |
1569.150 |
|
|
|
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|
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Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
|
3160.516 |
2444.201 |
|
|
Salaries, Wages, Bonus, etc. |
|
164.361 |
133.838 |
|
|
Managerial Remuneration |
4644.000 |
35.950 |
33.940 |
|
|
Payment to Auditors |
|
1.000 |
0.800 |
|
|
Power & Fuel |
|
108.434 |
84.008 |
|
|
Other Expenditure |
|
697.414 |
649.235 |
|
Total Expenditure |
4644.000 |
4167.675 |
3415.355 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
13.43
|
13.00 |
17.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.88
|
21.25 |
17.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.90
|
56.83 |
22.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.52 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.87
|
0.68 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.39 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
HISTORY
The company was incorporated on 21st March, 1997 under the
name and style of Motive Engineering India Private Limited. Name changed to ACD Automotive India Private Limited
with effect from 22nd July, 1997 and again changed to present name
and style with effect from 12th August, 1998.
Its’ Company Registration Number is 37782.
The company’s registered office was shifted from 3rd Floor, TNPL
Building, 38, Mount Road, Anna Salai, Guindy, Chennai - 600 032, Tamilnadu to
the above address.
Though this is the address registered, the staff and the office in whole
had been shifted to their factory at Maraimalainagar from where it is operating
currently.
This is a foreign company promoted by Ford Motor Company,
BUSINESS
The company is engaged in manufacturing and exporting of parts and
accessories of Motor vehicles and Air Conditioner Machines Comprising Motor
Driven Fans and Elements.
FIXED ASSETS
v
Leasehold land
v
Buildings
v
Plant and machinery
v
Furniture and fittings
v
Office equipments
v
Computers
v
Vehicles
CONTINGENT
LIABILITIES
[As on 31.03.2005]
Claims against the company for excise duty and customs duty liability
not acknowledged as debts and not provided for Rs.141.380 millions (Previous
year Rs.7.900 millions)
PRESS CLIPPINGS:
Visteon Announces Financial
Agreement with Ford; Strategic and Structural Discussions Continue
VAN BUREN TOWNSHIP, Michigan, March 10, 2005 — Visteon Corporation (NYSE:VC)
today announced a financial agreement with Ford Motor Company that will improve
Visteon’s operating results and cash flow and strengthen the operations that
directly serve the automaker. The details of the financial agreement are being
reported in a Securities and Exchange Commission filing.
“This financial agreement is the right step forward with Ford and
supports the operations that directly serve our largest customer,” said Mike
Johnston, president and chief executive officer. “The commitments made by Ford
and Visteon under this agreement will improve Visteon’s operating results and
cash flow. It’s a mutually beneficial agreement that is in the best interest of
both companies.”
Under the financial agreement, Ford agreed to reduced wage reimbursements
from Visteon for hourly Ford-UAW employees assigned to Visteon facilities;
accelerate payment terms to Visteon; and pay for capital expenditures at
certain Visteon plants in
Visteon to create
jobs with new manufacturing plant in Eureka, Missouri, to support business
growth
VAN
Visteon officially launched the project today in a ceremony at the plant
site in Eureka Commercial Park, located along I-44 about 20 miles southwest of
St. Louis. The event was attended by representatives of Visteon, the City of
The Visteon plant initially will supply door panels, consoles and
cockpits to Chrysler Group’s St. Louis North Assembly Plant.
Visteon President and Chief Operating Officer Donald J. Stebbins said
the new plant supports Visteon’s three-year plan to restructure, improve base
operations and grow the business.
“Our significant business growth requires us to add strategic
manufacturing capacity, and we’re pleased to be creating new jobs in
The new
Julie Fream, vice president of Visteon’s
“We are very appreciative of the assistance and support received from
the Missouri Department of Economic Development, the St. Louis County Economic
Council and the St. Louis Regional Chamber and Growth Association,” Fream said.
“Business growth is a key component of Visteon’s improvement plan,” she
added. “Through the commitment of our employees and the cooperation of state
and local governments, this will be a cost-competitive manufacturing operation
that will effectively serve our customers, while creating opportunities for our
employees and the local community.”
Eureka Mayor Kevin M. Coffey welcomed Visteon’s decision to build in the
community. “We are pleased to have a global company of Visteon’s caliber choose
our community for its new manufacturing plant, and we look forward to the new
jobs and economic stimulus that this new facility will generate,” Coffey said.
St. Louis County Executive Charlie A. Dooley said: “I am extremely
pleased to welcome Visteon Corporation to
Visteon Corporation is a leading global automotive supplier that
designs, engineers and manufactures innovative climate, interior, electronic
and lighting products for vehicle manufacturers, and also provides a range of
products and services to aftermarket customers. With corporate offices in Van
Buren Township, Mich. (
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.40.48 |
|
|
1 |
Rs.82.59 |
|
Euro |
1 |
Rs.55.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
59 |
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 |
|