MIRA
INFORM REPORT
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Report Date : |
19.06.2007 |
IDENTIFICATION DETAILS
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Name : |
WEBCOM INFORMATION TECHNOLOGY PRIVATE LIMITED |
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Registered Office : |
No. 66, 1st Floor, Vanivilas Raod, Basvangudi, |
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Country : |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
25.02.1991 |
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Com. Reg. No.: |
011707 |
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CIN No.: [Company
Identification No.] |
U85110KA1991PTC011707 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in Computer Networking Projects, Hardware /
Infrastructure Management, Trade in Computer Hardware. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 6040 |
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Status : |
Satisfactory |
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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 andconditions. |
LOCATIONS
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Registered Office : |
No. 66, 1st Floor, Vanivilas Raod, Basvangudi, |
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Tel. No.: |
91-80-26671002 / 26610077 |
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Fax No.: |
91-80-26523173 |
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Website : |
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Head Office : |
IC and 2C, Alsa Glenridge, # 32, Langford Road, Opp. St. Joseph’s
College, Bangalore – 560025, Karnataka |
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Tel. No.: |
91-80-22485166 / 22484983 / 84 |
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Fax No.: |
91-80-22485177 |
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E-Mail : |
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Braches: |
Mumbai, Hyderbad, Chennai, |
DIRECTORS
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Name : |
Mr. H. H. Ravi |
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Designation : |
Director |
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Name : |
Mr. V. V. Anantharam |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Category |
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Percentage of
Holding |
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Director |
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100.000 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in Computer Networking Projects, Hardware /
Infrastructure Management, Trade in Computer Hardware |
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GENERAL INFORMATION
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Suppliers : |
©
Ingram Micro, ©
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Customers : |
©
Defence Establishments in ©
Bharat Heavy Electrical Limited(BHEL) © National thermal
Power Corporation(NTPC) © DRDO (Defence
Research & Development Organization) © Bharat
Electronics Limited(BEL) © Indian © ABB © Honeywell © Bajaj Allianz ©
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No. of Employees : |
100 |
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Bankers : |
Syndicate Bank, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Nagarajan and Company Chartered Accountants |
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Address : |
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Associates/Subsidiaries : |
©
Cisco System ©
3Com ©
Nortel ©
Allied Telesyn, ©
D-Link ©
Systimax (Avaya) ©
Microsoft ©
IBM ©
HP ©
DELL ©
Intel ©
Trend Micro |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000/- each |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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15100 |
Equity Shares |
Rs.100/- each |
Rs.1.510/- each |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.200 |
0.200 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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1.310 |
0.972 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.510 |
1.172 |
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LOAN FUNDS |
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1] Secured Loans |
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0.678 |
0.044 |
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2] Unsecured Loans |
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2.137 |
1.857 |
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TOTAL BORROWING |
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2.815 |
1.901 |
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DEFERRED TAX LIABILITIES |
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0.004 |
0.026 |
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TOTAL |
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4.329 |
3.099 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.910 |
1.041 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.482 |
0.357 |
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Sundry Debtors |
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12.141 |
11.853 |
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Cash & Bank Balances |
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1.416 |
0.214 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.236 |
0.579 |
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Total
Current Assets |
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15.275 |
13.003 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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11.856 |
10.945 |
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Provisions |
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Total
Current Liabilities |
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11.856 |
10.945 |
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Net Current Assets |
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3.419 |
2.058 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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4.329 |
3.099 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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Sales Turnover |
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41.000 |
40.100 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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41.000 |
10.100 |
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Profit/(Loss) Before Tax |
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0.546 |
0.451 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.546 |
0.451 |
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KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
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1.33 |
1.12 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.33 |
1.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.37 |
3.21 |
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Return on Investment (ROI) (PBT/Networth) |
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0.36 |
0.38 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.85 |
9.33 |
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Current Ratio (Current Asset/Current Liability) |
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1.288 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
Company Details:
Subject is a Leading Network Integration
Company with its HQ in
Subject building Future Networks is their routine. Being a provider of high
quality cost-effective Network Services, they have implemented some of the best
Networks in
Communication is base for any business to day. If communications fails, the
losses in Terms of time and money are very huge. With these in mind they
focused on connectivity solutions with commitment to give their best to their
customer.
Implementing advanced capabilities by using latest technologies has helped them
to build and maintain any type of networks in industry. They offer connectivity
solutions, keeping in mind to-days requirement and Future Expansion. Strategic
tie-up with world Networking majors ensure Best Technology and smooth migration
to new technologies
Products:
LAN/WAN-Data/Voice/Video
SONY–LAN/WAN
–Data/Voice/Video
CISCO- SWITCHES , Security & Video Conferencing
Computing Systems
IBM
SERVER, DESKTOP, WORKSTATION.
SUN
SERVERS, WORKSTATION
HP
SERVER, DESKTOP, Rugged
PCMPL
Rugged PC/ Mil Standard PCs.
INTEL
SERVER, DESKTOP, Rugged
PCDELL. Desktops, SERVERS
OS/Other Software Products
OS – Microsoft Windows, NT, Unix, Linux, Novel, MAC Others – All MS Products,
AutoCad, Rational tools.
Power Conditioning products
UPS- APC, Power1, TVS, Libert. Genesys.
Security
CISCO - PIX Fire wall NetD - Stateful Firewall, IPSecVPN, IDS/IPS, VoIP
support, ROUTING QoS& Ethernet Switching (All in one Box)CHECKPOINTTrend
Micro Symantec Series with AntiVirus
Peripherals
All type of Printers, Plotters& Scanners from >HP. IBM WIPRO and XEROX
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.40.82 |
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1 |
Rs.81.18 |
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Euro |
1 |
Rs.54.79 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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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46 |
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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