MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
QUARTZ STONE INDIA PRIVATE LIMITED |
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Registered Office : |
No. 244, Raheja Arcade, 1/1, Koramangala Industrial Layout, |
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Country : |
Inida |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
09.09.2005 |
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Com. Reg. No.: |
037172 |
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CIN No.: [Company
Identification No.] |
U51432KA2005PTC037172 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRQ00174G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, processor and exporter of natural stones like Granite,
Sandstone, Marble and Slate Stones. |
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 1992 |
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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.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealing at usual
trade terms and conditions. |
LOCATIONS
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Registered / Corporate Office : |
No. 244, Raheja Arcade, 1/1, Koramangala Industrial Layout, |
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Tel. No.: |
91-80-41145505 |
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Mobile No.: |
91-80-41146492 |
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E-Mail : |
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Factory 1 : |
812, Barton Centre, No. 84, M |
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Tel. No.: |
91-80-41145505 |
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Fax No.: |
91-80-41146492 |
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Branches : |
255 / A, Road No. 6, Indraprasth Industrial Area, |
DIRECTORS
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Name : |
Mr. Anuj Modi |
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Designation : |
Director |
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Address : |
108, Casa Ansal Apartment, 3rd Phase, J P Nagar, |
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Date of Appointment : |
09.09.2005 |
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Name : |
Mrs. Priyanka Modi |
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Designation : |
Director |
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Address : |
108, Casa Ansal Apartment, 3rd Phase, J P Nagar, |
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Date of Appointment : |
09.09.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Anuj Modi |
5,000 |
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Mrs. Priyanka Modi |
5,000 |
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Total |
10,000 |
Equity share breakup (percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Directors and relatives of directors |
100.00 |
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total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, processor and exporter of natural stones like Granite,
Sandstone, Marble and Slate Stones. |
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Products : |
Natural stones like Granite, Sandstone, Marble and Slate Stones. |
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Exports : |
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Products : |
Granite, Sandstone, Marble and Slate |
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Countries : |
Worldwide |
GENERAL INFORMATION
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Auditors : |
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Name : |
G S Roa and Company Chartered Accountant |
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Address : |
No 62, I Floor, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity |
Rs. 10/- each |
Rs 0.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity |
Rs. 10/- each |
Rs 0.100 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.400 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(0.002) |
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NETWORTH |
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0.498 |
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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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0.290 |
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TOTAL BORROWING |
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0.290 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.788 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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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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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.000 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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2.082
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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1.294
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Net Current Assets |
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0.788
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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0.788 |
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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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1.000 |
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Other Income |
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0.000 |
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Total Income |
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1.000 |
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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3.180
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Current Ratio (Current Asset/Current Liability) |
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1.60
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LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from No. 812, 8th
Floor, Bartoncentre, M G Road, Bangalore – 560 001, Karnataka, India to No.
244, Raheja Arcade, 1/1, Koramangala Industrial Layout, Bangalore – 560 034,
Karnataka, India with effect from 09.04.2007
As per website
details:
They are on of the emerging companies engaged in the manufacturing,
processing and exporting of a wide variety of natural stones like Granite,
sandstone, marble and slate stones. Located in the Garden City of Bangalore,
they have in their ambit a large variety of Granite, sandstone, marble and
slate stones in brick, slab and tiles form and in different colors.
They have their own quarries as well as a state of the art production
unit well equipped with all the latest machineries. Using a combination of both
imported and indigenous machinery, they are able to process a large quantity of
Granite, sandstone, marble and slate. Their manufacturing units have all the
equipments that are needed for sawing, calibrating, edge moulding etc.
At company they ensure a safe work environment for all their employees
and follow GMP and employ international quality standards at all level of the
manufacturing and processing process. All their Granite, sandstones, marble and
slate stones are put thorough routine tests so as to check their strength, diagonals,
thickness etc. and offer the best prices for the best quality products.
At company their wide of natural stones are available in:
Sandstones:
Their sandstones come in colors like whit, mint, red, pink, beige,
brown, green copper, teak and multi colored with a natural or sawn texture with
their edges being either hand dressed or machine cut.
Slates:
In slates, the colors available are copper, sea green, deoli green,
silver gray etc. with natural and polished surface. They offer their slates in
sizes (cm) 30 × 30, 40 × 40, 60 × 30, 60 × 40 with 10mn to 25mn thickness
Marble:
In green, pink, yellow and
Granites:
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.40.70 |
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1 |
Rs.80.80 |
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Euro |
1 |
Rs.54.65 |
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 |
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 |
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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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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