MIRA
INFORM REPORT
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Report Date : |
23.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ANSHUL AGENCIES |
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Registered Office : |
Ram House, S. V. Road, Goregaon (West), Mumbai-400062, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
145417 |
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IEC No.: |
0394051793 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA04159B |
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PAN No.: [Permanent
Account No.] |
AAEFA5660J |
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Legal Form : |
Partnership Concern with an unlimited liability of the Partners. |
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Line of Business : |
Indenting Agents and Importer of specialty chemicals for pharmaceuticals, agro and beverage industry and Personal Care Cosmetic. |
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 431200 |
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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 marketing concern, indirectly backed by Excel Industries Limited, which is having good track. Trade relations are fair. Payments are correct and as per commitments. The concern can be considered good for normal business dealings at usual trade terms and conditions. This report is based on an interview with Mr. Dhiraj
Dangodra. |
LOCATIONS
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Registered Office : |
Ram House, S. V. Road, Goregaon (West), Mumbai-400062, |
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Tel. No.: |
91-22-26865566-70/28724091 / 28721476 / 83 |
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Fax No.: |
91-22-26865576 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. |
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Location : |
Rented |
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Administration Office : |
401, Jagdamba House, 4th |
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Tel. No.: |
91-22-26865566/67/68/69/70 |
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Fax No.: |
91-22-26865576 |
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E-Mail : |
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Area : |
3500 Sq. ft |
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Location : |
Rented |
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Head Office : |
112 Mittal Chambers, 228 Backbay Reclamation, Nariman
Point, Mumbai – 400 021, |
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Tel. No.: |
91-22-22021569 |
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Fax No.: |
91-22-22826518 |
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Area : |
1200 Sq. ft |
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Location : |
Owned |
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Branches : |
Located at :- ©
Ahmedabad, Tel. 91-79-27542943/27542872 Fax. 91-79-27540920 ©
Tel. 91-80-30623799/25586337 Fax. 91-80-25599840
© Chennai, Tamilnadu Tel. 91-44-24330213 ©
Tel. 91-40-27811216/55311109 Fax. 91-40-27813456 ©
Tel. 91-11-27811216/27670964 Fax.
91-11-27671933 |
PARTNERS
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Name : |
Mr. Ashok Israni |
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Designation : |
Partner |
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Address : |
Laxmichand House, 312, |
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Date of Birth/Age : |
61 Years |
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Qualification : |
Chemical Engineer |
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Experience : |
35 Years |
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Name : |
Mr. Ashwin Shroff |
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Designation : |
Partner (Managing Director of Excel Industries Limited) |
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Address : |
Laxmichand House, 312, |
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Date of Birth/Age : |
60 Years |
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Qualification : |
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Experience : |
35 Years |
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Name : |
Mr. |
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Designation : |
Partner |
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Address : |
B – 15, Theosophical Society, |
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Date of Birth/Age : |
27 Years |
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Qualification : |
Chemical Engineer & M.S. In Chemistry |
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Experience : |
3 Years |
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Name : |
Mr. Hrishit A. Shroff |
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Designation : |
Partner |
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Address : |
B – 15, Theosophical Society, |
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Date of Birth/Age : |
25 Years |
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Qualification : |
B. Com & Inter C. A. |
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Experience : |
2 Years |
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KEY EXECUTIVES
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Name : |
Mr. K. Nagarajan |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Ramesh Poduval |
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Designation : |
Customer Service Department |
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Name : |
Mr. Dheeraj |
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Designation : |
Senior Commercial Cosmetics |
BUSINESS DETAILS
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Line of Business : |
Indenting Agents and Importer of specialty chemicals for pharmaceuticals, agro and beverage industry and Personal Care Cosmetic |
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Products : |
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Agencies Held : |
The concern holds the following agencies : ©
International Specialty Products, ©
© Cusmotech International, France |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C and Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers & End Users |
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No. of Employees : |
45 |
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Bankers : |
·
Bank of · The Saraswat Cooperative Bank Limited. |
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Facilities : |
The concern is reported to enjoy substantial facilities from its banker – banking relations are reported as satisfactory. The Saraswat Cooperative Bank Limited. – Credit Limits Rs. 7.500 Millions |
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Banking Relations
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Satisfactory |
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Auditors : |
Diwan Gosalia & Associates Chartered Accountant |
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Address : |
F/1, Jethwa Nagar, 2nd Floor, V. L. Road, Kandivali (West), Mumbai – 400 067 |
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Tel. No.: |
91-22-28014932 |
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Fax No.: |
91-22-28017292 |
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E-Mail : |
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Principals : |
· Cognis Australia Private Limited ·
· Tel No. 91-613-99333500 · Fax No. 91-613-99333583 · Website. www.cognis.com · Hayward Industrial Products Asia Private Limited ·
· Tel No. 91-65-64520955 · Fax No. 91-65-64521132 · Website. www.haywardindi.com ·
ISP Sales ( · Room 1102 Phase 1, Ming AN Plaza, No.8, Sunning
Road, · Tel No. 91-852-28816108 · Fax No. 91-852-28961250 · Website. www.ispcrop.com · Molkeri Meggle Wasserburg Gmbh & Company KG Megglestr 6-12, D-83512 Wasserburg, Reitmehring · Tel No. 91-49-8071730 · Fax No. 91-49-807173320/444 · Website. www.meggle-pharma.de · Pentaphaem Limited Engelgasse
109/CH – 4002 · Tel No. 91-61-7064848 · Fax No. 91-61-3199619 · Website- www.pentapharm.com ·
Elisenstrabe 119 D-45139 · Tel No. 91-49-2012489823 · Fax No. 91-49-2012489825 · Website. www.carbitech.de · Stabifix Brauerei-Technik KG Lochhamer Schlag – 17, D-82166, · Tel No. 91-49-8989990 · Fax No. 91-49-89899979 · Website. www.stabifix.com |
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Memberships: |
Basic Chemicals Pharmaceuticals & Export Promotion Council. |
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Associates: |
Anshul Specialty Molecules Limited Rama House, 1st Floor, 4 Gaiwadi Industries Estate, S. V. Road, Goregaon (West), Mumbai – 400 062 Lines of Business : Chemicals Manufacturing Divakar Chemicals Limited Rama House, 1st Floor, 4 Gaiwadi Industries Estate, S. V. Road, Goregaon (West), Mumbai – 400 062 Lines of Business : Trading |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.107.800 millions |
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Borrowed : |
- |
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Total : |
Rs.107.800 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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500.000 |
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Expected Sales (2007-08) : Rs.750.00 millions
LOCAL AGENCY FURTHER INFORMATION
Company Details:
Subject is a distributor and marketers of specialty chemicals and chemical equipments.
Subject’s current activities include :
Ø
Representation of reputed international
organizations for marketing their products in
Ø
Distribution of products from internationally
reputed organization within
Ø Marketing and Exports of products manufactured by associated companies.
Ø Sourcing for exports of various chemicals
Subjects major End User Industries Services are as under:-
Pharmaceuticals
Ø Both bulk drugs and formulations
Ø Solvents and Intermediates
Ø Tablet binders and disintergrants
Ø Diluents-Lactose Grades for DC and Granulation
Ø Iron Supplement
Personal Care
Ø Conditioners
Ø Emollients
Ø Sunscreen
Ø Preservatives
Ø Film Formers
Industrial
Ø Coatings
Ø Polymers-PBT
Ø Electroplating Chemicals
Ø Adhesives
Ø Imaging
Breweries
Ø Agrochemicals
Ø Refineries
Ø Automotive Industries
Ø Steel Plants
The concern is in
trade terms with:
Ø
Dr. Reddy’s Laboratories Limited,
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Pfizer Limited, Mumbai,
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Wockhardt Limited, Mumbai,
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EID Parry, Chennai,
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Hindustan Pesticides Limited, Mumbai,
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UB Limited,
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Hindustan Petroleum Corporation Limited, Mumbai,
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Madras Refineries Limited, Chennai,
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.40.71 |
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1 |
Rs.81.24 |
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Euro |
1 |
Rs.54.63 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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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 |
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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48 |
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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