MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SWASTIK COAL INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
109, Sneh, Nagar, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
04.02.2005 |
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Com. Reg. No.: |
10 - 017307 |
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CIN No.: [Company
Identification No.] |
U51102MP2005PTC017307 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BPLS08361D |
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PAN No.: [Permanent
Account No.] |
AAICS7382L |
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Legal Form : |
Private Limited Liability company |
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Line of Business : |
To carry on in India or elsewhere the business to Buy, Sell resale,
import, export, Barter, Transport, Store, Forward, Distribute, Marketing,
Dispose, Develop, Research, Manipulate, Market, Supply and to act as Agent,
Broker, Adtia, representative, , consultant, Collaborators Stockiest ,
Liasioner, Middleman, Job worker or otherwise ton deal in all types of
product of Coal and Petroleum product of Coal and Petroleum products and
similar goods and to do all incidental acts and things necessary for the attainment
of the foregoing objects. |
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 32000 |
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Status : |
Small company |
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Payment Behaviour : |
Regular |
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Litigation : |
clear |
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Comments : |
Subject is a relatively small company having satisfactory track
records. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Payments are however reported as
usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
109, Sneh, Nagar, |
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Tel. No.: |
91-731-2515522 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Hitesh Bindal |
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Designation : |
Director |
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Address : |
10, Navratn Bag, |
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Date of Birth/Age : |
21.04.1983 |
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Date of Appointment : |
04.02.2005 |
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Name : |
Mr. Naryan Bindal |
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Designation : |
Director |
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Address : |
8/3, anand Apartmetn, Manorama Ganj, |
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Date of Birth/Age : |
30.11.1967 |
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Date of Appointment : |
30.09.2006 |
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Name : |
Mr. Vineet Puranik |
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Designation : |
Director |
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Address : |
5, Nacratan Bag, |
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Date of Birth/Age : |
15.09.1982 |
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Date of Appointment : |
30.09.2006 |
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Name : |
Mr. Vishnu Prasad Bindal |
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Designation : |
Director |
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Name : |
Mr. Harminder Singh Hora |
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Designation : |
Director |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
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Vishnu Prasad Bindal |
13000 |
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Naryan bindal |
23000 |
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Hitesh Bindal |
14000 |
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Geeta Bindal |
10 |
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Girdhar Garg |
10 |
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10 |
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Shevta Garg |
10 |
Equity Share break-up:
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Category |
Percentage |
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Bodies corporate |
95.26 |
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Directors or relatives of directors |
4.74 |
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Total: |
100.00 |
BUSINESS DETAILS
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Line of Business : |
To carry on in India or elsewhere the business to Buy, Sell resale,
import, export, Barter, Transport, Store, Forward, Distribute, Marketing, Dispose,
Develop, Research, Manipulate, Market, Supply and to act as Agent, Broker,
Adtia, representative, , consultant, Collaborators Stockiest , Liasioner,
Middleman, Job worker or otherwise ton deal in all types of product of Coal
and Petroleum product of Coal and Petroleum products and similar goods and to
do all incidental acts and things necessary for the attainment of the
foregoing objects. |
GENERAL INFORMATION
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No. of Employees : |
About 20s |
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Bankers : |
Union Bank of HDFC Bank Limited State Bank of |
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Auditors : |
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Name : |
M/s R. S. Bansal and Company Chartered Accountant |
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Address : |
Urvashi First Floor, 3, Jaora Compound, |
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Tel. No.: |
91-731-2702834-35 |
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Fax No.: |
91-731-5070434 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1901040 |
Equity Shares |
Rs.10/- each |
Rs.19.010
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.000 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
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NETWORTH |
8.000 |
0.500 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
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2] Unsecured Loans |
0.195 |
0.195 |
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TOTAL BORROWING |
0.195 |
0.195 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
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TOTAL |
8.195 |
0.695 |
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APPLICATION OF FUNDS |
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0.000 |
0.000 |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
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Capital work-in-progress |
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INVESTMENT |
7.500 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
0.000 |
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Sundry Debtors |
0.000 |
0.000 |
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Cash & Bank Balances |
0.030 |
0.016 |
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Other Current Assets |
0.000 |
0.000 |
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Loans & Advances |
0.464 |
0.496 |
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Total
Current Assets |
0.494 |
0.512 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.006 |
0.003 |
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Provisions |
0.000 |
0.000 |
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Total
Current Liabilities |
0.006 |
0.003 |
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Net Current Assets |
0.488 |
0.509 |
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MISCELLANEOUS EXPENSES |
0.207 |
0.186 |
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TOTAL |
8.195 |
0.695 |
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PROFIT & LOSS
ACCOUNT
Note:
The subject
company was incorporated on 04.02.2005 and during the year under review, no
profit and loss account is prepared as the company has not started commercial activities.
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Pre-operative
Expenses |
31.03.2006 |
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(Rs. In
millions) |
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Audit fees |
0.003 |
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Bank commission |
0.007 |
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Legal and
professional fees |
0.002 |
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Legal expenses |
0.001 |
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Registration
charges |
0.006 |
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Stationery and printing
expenses |
0.003 |
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Total |
0.024 |
KEY RATIOS
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PARTICULARS |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
0.000 |
0.006 |
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Current Ratio (Current Asset/Current Liability) |
82.33 |
170.66 |
LOCAL AGENCY FURTHER INFORMATION
Nil:
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.40.73 |
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1 |
Rs.80.43 |
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Euro |
1 |
Rs.54.44 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
YES |
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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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29 |
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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