MIRA
INFORM REPORT
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Report Date : |
24.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHARP BUSINESS SYSTEMS [INDIA] LIMITED |
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Registered Office : |
214-221, Ansal Tower, 38, Nehru Place, New Delhi – 110019 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.02.2000 |
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Com. Reg. No.: |
55-104046 |
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CIN No.: [Company
Identification No.] |
U74899DL2000PLC104046 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS14055G |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturing, Research, Development and Distribution of Consumer
Electronic Products. |
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 360000 |
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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 and conditions. |
LOCATIONS
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Registered
Office / Head Office : |
214-221, Ansal Tower, 38, Nehru Place, New Delhi – 110019, India |
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Tel. No.: |
91-11-26431313 / 26438866 / 0585 |
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Fax No.: |
91-11-26438747 / 26482122 |
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E-Mail : |
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Website : |
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Zonal Offices: |
Located at : Ø Bangalore Ø Chennai Ø Kolkata Ø Mumbai Ø New Delhi |
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Branches : |
Located at : Ø Baroda Ø Chandigarh Ø Cochin Ø Guwahati Ø Hyderabad Ø Jaipur Ø Lucknow Ø Pune Ø Raipur |
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National Service
& Training Center: |
A-57/4, Ground Floor, Okhla Industrial Area, Phase II, New Delhi |
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Tel. No.: |
91-11-26385670 / 71 |
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Fax No.: |
91-11-51608714 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Kanwar Raj Palta |
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Designation : |
Director |
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Address : |
K-24C, Kauz Khas Enclave, New Delhi – 110016, India |
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Date of Birth/Age : |
06.10.1944 |
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Date of Appointment : |
11.04.2000 |
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Date of Ceasing : |
24.05.2005 |
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Name : |
Mr. Hiroyuki Hara |
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Designation : |
Director |
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Address : |
79 Paschimi Marg, 3rd Floor, Rear Flat, Vasant Vihar, New Delhi
– 110057, India |
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Date of Birth/Age : |
15.11.1963 |
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Date of Appointment : |
29.11.2002 |
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Name : |
Mr. Kiyokazu Kawabe |
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Designation : |
Director |
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Address : |
170-1, 5-Chome, Sanji Ohji – 6308013, Nara |
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Date of Birth/Age : |
04.02.1947 |
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Date of Appointment : |
29.11.2002 |
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Name : |
Mr. Toshikazu Mori |
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Designation : |
Managing Director |
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Address : |
A-14/18, Vasant Vihar, New Delhi – 110057, India |
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Date of Birth/Age : |
19.08.1953 |
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Date of Appointment : |
19.05.2003 |
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Name : |
Mr. Naohiro Yanagishitr |
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Designation : |
Director |
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Address : |
Gat No. 686/4, Kore Gaon Bhima, Taluka Shirur, Pune – 412216,
Maharashtra, India |
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Date of Birth/Age : |
01.07.1960 |
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Date of Appointment : |
10.07.2003 |
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Name : |
Mr. Tarayuki Yanazaki |
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Designation : |
Director |
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Address : |
Gat No 686/4, Kore Gaon Bhima, Taluka Shirur, Pune – 412216,
Maharashtra, India |
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Date of Birth/Age : |
06.09.1958 |
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Date of Appointment : |
17.07.2004 |
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Name : |
Mr. Shyam Lal Sharma |
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Designation : |
Director |
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Address : |
Flat No. 120, Pocket B 4, Delhi – 110035, India |
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Date of Birth/Age : |
26.02.1975 |
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Date of Appointment : |
09.12.2002 |
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Name : |
Mr. Okuda Hideki |
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Designation : |
Whole Time Director |
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Address : |
79, Paschimi Marg, Rear Flat, 3rd Floor, Vasant Vihar, New Delhi –
110057, India |
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Date of Birth/Age : |
20.10.1960 |
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Date of Appointment : |
16.02.2006 |
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Name : |
Mr. Yamazaki Hiroami Takayuki |
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Designation : |
Director |
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Address : |
Flat No. 302, Siddharth Ganga, 3rd Floor, Kalayani Nagar, Pune –
411014, Maharashtra, India |
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Date of Birth/Age : |
06.09.1958 |
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Date of Appointment : |
17.07.2004 |
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Name : |
Mr. Mizuno Kazuo Yoshihisa |
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Designation : |
Director |
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Address : |
Flat No. 301, Siddharth Ganga, 3rd Floor, Kalayani Nagar, Pune –
411014, Maharashtra, India |
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Date of Birth/Age : |
13.04.1962 |
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Date of Appointment : |
16.02.2006 |
KEY EXECUTIVES
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Name : |
Mr. Shyam Lal Sharma |
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Designation : |
Company Secretary |
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Address : |
Flat No. 12 C, Pocket B 4, Keshav Puram – 110035, Delhi, India |
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Date of Birth/Age : |
26.02.1975 |
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Date of Appointment : |
09.12.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Sharp Corporation |
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8999994 |
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Mori Toshikazu |
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1 |
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Hiroyukj Hara |
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1 |
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Naohiro Yanagishita |
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1 |
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Kiyokazu Kawabe |
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1 |
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Takayoki Yamazaki |
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1 |
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Ohsawa toshiyuki |
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1 |
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Total |
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9000000 |
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Category |
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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.] |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Research, Development and Distribution of Consumer
Electronic Products. |
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Products : |
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GENERAL
INFORMATION
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Customers : |
Banks / Financial
Institutions / Insurance Companies
Bajaj Allianz General Insurance
Citibank
HDFC Bank HSBC Bank ICICI Bank Limited IDBI Bank ING Vyasya Reserve Bank of India State Bank Of India
UTI Bank Limited Corporates (Including
Public Sector)
Airport Authority Of India, Delhi
Bharat Heavy Electricals Limited
Bharat Petroleum Corporation Limited
Bharat Sanchar Nigam Limited
Castrol India Limited
Hindustan Petroleum Corporation Limited
Indian Oil Corporation
Itc Limited
Mahanagar Telephones Nigam Limited National Panasonic
National Thermal Power Corporation
Oil & Natural Gas Corporation Limited
Reliance Infocom Limited
Siemens India
Entertainment
ZEE Telefilms Limited
Government
Food Corporation Of India, Calcutta
Forest Dev. Corpn. Of India, Pune Indian Space Research Organization Ministry Of Agriculture, Delhi Ministry Of Defence, Delhi National Co-Operative Consumer Federation (NCCF)
Institutions
Annamalai University Central Institute Of Plastic Engineering & Technology Central Power Research Institute Indian Institute Of Technology Indian Instt. Of Chemical Biology, Calcutta Jadavpur University, Calcutta Rajiv Gandhi College Of Eng., Chennai Pharamaceutical
Companies / Hospitals
Aristo Pharmaceuticals Limited, Mumbai Aventis Pharma Limited, Pune Dr. Reddy's Lab, Hyderabad Lilavati Hospital & Research Centre, Mumbai Mediciti Hospitals, Hyderabad Metro Hospitals & Heart Institute, Delhi Novo Nordisk Pharma Industries Limited, Bangalore Pfizer Limited, Mumbai Ranbaxy Laboratories Limited, Chandigarh Software
Companies
Convergelabs Software Technologies, Delhi Deutsche Software Limited., Bangalore Infosys Technologies Isphinx Softnet Private Limited,, Hyderabad Itc Infotech India Limited, Bangalore Palas Software, Delhi Sap Labs Sharp Software Dev. India P Limited, Bangalore Transworld Inst Of Soft Ware Tech, Baroda |
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No. of Employees : |
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Bankers : |
Ø UFJ Bank Ø Mizuho Bank Ø Bank of Tokyo
Mitsubishi Jeevan Vihar 3, Parliament Street, New
Delhi – 110001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
4B, DLF Corporate Park, DLF City, Phase – III, Gurgaon – 122002,
Haryana, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 90.000
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
90.000 |
90.000 |
90.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.395 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
[38.599] |
[51.152] |
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NETWORTH |
91.395 |
51.401 |
38.848 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
86.128 |
240.608 |
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2] Unsecured Loans |
99.338 |
99.338 |
99.338 |
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TOTAL BORROWING |
99.338 |
185.466 |
339.946 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
190.733 |
236.867 |
378.794 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
14.634 |
8.855 |
11.540 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
20.701 |
23.164 |
19.671 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
112.248
|
78.771 |
64.181 |
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Sundry Debtors |
203.936
|
171.825 |
208.624 |
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Cash & Bank Balances |
109.554
|
78.245 |
104.562 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
21.123
|
21.267 |
62.934 |
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Total
Current Assets |
446.861
|
350.108 |
440.301 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
282.482
|
129.695 |
78.068 |
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Provisions |
8.981
|
15.565 |
14.650 |
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Total
Current Liabilities |
291.463
|
145.260 |
92.718 |
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Net Current Assets |
155.398
|
204.848 |
347.583 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
190.733 |
236.867 |
378.794 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
882.641 |
686.660 |
547.951 |
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Other Income |
4.290 |
5.657 |
44.338 |
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Total Income |
886.931 |
692.317 |
592.289 |
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Profit/(Loss) Before Tax |
68.151 |
15.660 |
[31.286] |
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Provision for Taxation |
27.368 |
3.107 |
0.000 |
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Profit/(Loss) After Tax |
40.783 |
12.553 |
[31.286] |
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Earnings in Foreign Currency : |
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Subsidies from Sharp Corporation, Japan |
NA |
2.526 |
56.489 |
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Other Earnings |
NA |
1.603 |
2.014 |
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Total Earnings |
NA |
4.129 |
58.503 |
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Imports : |
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Finished Goods |
NA |
338.998 |
236.811 |
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Stores & Spares |
NA |
7.980 |
9.810 |
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Total Imports |
NA |
346.978 |
246.621 |
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Expenditures : |
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Purchases made for re-sale |
554.350 |
459.265 |
0.000 |
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Consumption of stores and spares parts |
14.545 |
10.484 |
0.000 |
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Salaries, Wages, Bonus, etc. |
57.318 |
44.209 |
0.000 |
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Managerial Remuneration |
3.000 |
3.000 |
0.000 |
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Payment to Auditors |
1.766 |
1.664 |
0.000 |
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Interest & Finance Charge |
6.060 |
9.478 |
23.704 |
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Insurance Expenses |
0.401 |
2.057 |
0.000 |
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Power & Fuel |
2.166 |
2.568 |
0.000 |
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Cost of Goods Sold |
0.000 |
0.000 |
390.392 |
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Services contract charges |
0.000 |
0.000 |
3.906 |
|
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Administrative Expenses |
0.000 |
0.000 |
158.911 |
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Personal Cost |
0.000 |
0.000 |
158.911 |
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Depreciation & Amortization |
5.676 |
5.876 |
5.780 |
|
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Other Expenditure |
173.498 |
138.056 |
0.000 |
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Total Expenditure |
818.780 |
676.657 |
741.604 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
4.59
|
1.81 |
[33.90] |
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Net Profit Margin (PBT/Sales) |
(%) |
7.72
|
2.28 |
[33.90] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.76
|
4.36 |
[6.92] |
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Return on Investment (ROI) (PBT/Networth) |
|
0.74
|
0.30 |
[0.80] |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.18
|
2.82 |
2.38 |
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Current Ratio (Current Asset/Current Liability) |
|
1.53
|
2.41 |
4.74 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
Ø
Leasehold Improvement
Ø
Computer Equipments
Ø
Office equipment
Ø
Furniture and fixture
Ø
Motor vehicles
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL2000PLC104046 |
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Name of the
company |
SHARP BUSINESS SYSTEMS [INDIA] LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
214-221, Ansal Tower, 38, Nehru Place, New Delhi – 110019 |
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This form is for |
Modification of charge |
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Type of charge |
Others |
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Particular of
charge holder |
Bank of Tokyo Mitsubishi Jeevan Vihar 3, Parliament Street, New Delhi – 110001, India |
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Amount secured by
the charge |
Rs. 390.000
Millions |
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Description of
the property charged indicating whether it is a charged on |
Stock in trade Book debts |
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Particulars of
the property charged |
Stock in trade
and book debts |
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Charge identification
number of the charge to be modified |
80004274 |
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Brief description
of the instruments modifying the charge under section 135 |
Letter from the
bank stating that UFJ Bank Limited has merged with The Bank of Tokyo
Mitsubishi UFJ Bank Limited
wef 01.01.2006, to from The Bank under the name “Bank of Tokyo
Mitsubishi UFJ Bank” |
|
Date of
instrument Modifying the charge |
01.01.2006 |
|
Particulars of
the present modification |
UFG Bank Limited
has merged with The Bank of Tokyo Mitsubishi w.e.f. 01.01.2006 to be renamed as The Bank of Tokyo Mitsubishi UFJ Limited
charge to be transferred in name of newly formed bank. |
As Per Website
Business Philosophy & Business Creed
Business Philosophy
They do not seek merely to expand their business volume. Rather, they are
dedicated to the use of their unique, innovative technology to contribute to
the culture, benefits, and welfare of people throughout the world.
It is the intention of their corporation to grow hand-in-hand with their
employees, encouraging and aiding them to reach their full potential, and
improve their standard of living.
Their future prosperity is directly linked to the prosperity of their
customers, dealers, and shareholders... indeed, the entire Sharp family."
Business Creed
Sharp is dedicated to two principal ideals –
"Sincerity and Creativity"
By committing their selves to these ideals, they can derive genuine
satisfaction from their work, while making a meaningful contribution to
society.
Sincerity is a virtue fundamental to humanity...
always be sincere.
Harmony brings strength...
trust each other and work together.
Politeness is a merit...
always be courteous and respectful.
Creativity promotes progress...
remain constantly aware of the need to innovate and improve.
Courage is the basis of a rewarding life...
accept every challenge with a positive attitude.
Shaping the Future with leading – edge technologies
India is a very important market for Sharp. The establishment of Sharp
Business Systems (India) Limited, its third company in the last 11 years in
India, reflects Sharp’s serious interest and growing commitment to the Indian
market.
At Sharp, they are constantly exploring new frontiers of Technology, to evolve
products that are "not just No. 1 but the only one" of its kind. They
shall endeavor to introduce the latest and most advanced products into India,
simultaneously with their worldwide availability.
Sharp Business Systems (India) Limited has pioneered the ushering of the
digital era in India, offering its full range of "Total Business
Solutions" through its LCD, Digital and Color Technologies.
Building on the foundation of their business creed "Sincerity &
Creativity", they have striven to provide products and services which have
given a deep sense of satisfaction to people worldwide. They intend to
replicate this in India by meeting and exceeding their customers’ expectations.
Glorious history
From 1912 till date, the history of Sharp has been the history of
innovation in electronics. From home appliances and office equipment to laser
diodes, solar panels and LCDs, Sharp has improved the quality of people’s
lives, worldwide, with its superior technologies.
Promising Future
Sharp is using its leadership status in LCD and Digital Technologies to
create a world that will be a seamless, digitally networked society.
Leading the Digital Revolution in India
Sharp, in India, is the only name that is completely geared to provide total
business solutions. Solutions that are digital, networked and work admirably
well in stand alone as well as multifunction environments – at home or in the
workplace.
Sharp is the only company to provide business solutions that cover the entire
gamut of customers’ needs. From Plain Paper faxes to 4-in-one multifunction
systems, from Digital Laser Printer / Copiers to high-end Document Management
Systems – Sharp fits the requirement of small businesses as efficiently as
those of large organizations.
Sharp’s Open System Architecture (OSA) is aimed at realizing the full
potential of the Multifunction Product that has evolved from being a standalone
device to a highly sophisticated conduit for business communications.
Power to stay ahead
By offering products that are way ahead of times, Sharp has ensured
future compatibility for its customers. Continuous research and development has
made Sharp the leader in LCD & DLP Projection technologies. An extensive
line-up for the Corporate and the Home segments helps you make a lasting impact
with the presentations at office and enjoy a theater-like movie watching
experience at home.
The one and only
Sharp, today enjoys a global leadership status as the only and the most
reliable provider of total Digital and Network Solutions – both for the
business and home segments, earning the heartfelt trust of millions across the
globe.
PRODUCTS
Calculators
Since the introduction of the first electronic desktop calculator, SHARP
has led the way in the field of calculator technology. A history of superior
engineering, advanced functions, and innovative technologies has made SHARP
Scientific Calculators the choice in all fields, the world over.
Products available for following Market Segments:
Digital Multi-Function
Sharp Multifunction Devices (MFDs) are much more than modular copiers.
They incorporate the latest digital technology to provide advanced copying,
printing, scanning, faxing & e-mail functions in one multifunctional unit.
These advanced systems control all aspects of document production - from
creating and editing to finishing and distributing.
Products available for following Market Segments:
ECR
For years, Sharp has led the way in the Electronic Cash Register
industry – with products that set the standard for innovation, price/performance
and reliability. And now Sharp has done it once again, with the introduction of
new models that prove retail and hospitality establishments don't have to pay a
lot to get a lot.
Products available for following Market Segments:
Fax
Turn the fax machine into a competitive advantage. Fast-paced offices
large and small have made Sharp fax machines the benchmark for high-speed,
reliable and efficient fax communication.
Products available for following Market Segments:
Projector
Sharp Image Quality (IQ), the defining characteristic that has made Sharp
the industry leader in LCD display products. From the smallest Mobile Series to
their fully networked Large Venue Series you will find intelligent design and
features sure to portray the message in the best light.
Products available for following Market Segments:
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.43.14 |
|
UK Pound |
1 |
Rs.84.71 |
|
Euro |
1 |
Rs.57.58 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|