MIRA
INFORM REPORT
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Report Date : |
25.05.2007 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL PRINT-O-PAC LIMITED |
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Registered Office : |
B-204 Okhla Industrial Area, Phase-I, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.12.1981 |
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Com. Reg. No.: |
012808 |
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CIN No.: [Company
Identification No.] |
U22219DL1981PLC012808 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELI03999C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Subject is engaged in printing and manufacturing of pre-printing and printing materials. It is also engaged in colour scanning, phototype setting, plate making, processing for printing industry and printing. |
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 1700000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having satisfactory track. Directors are reported as experienced, respectable and having satisfactory means of their own. Payments are reported as 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 : |
B-204 Okhla Industrial Area, Phase-I, |
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Tel. No.: |
91-11-2681 5631 / 7569 / 9176 / 8199 / 9438 / 7569 |
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Fax No.: |
91-11-2681 9439 |
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E-Mail : |
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Website : |
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Area : |
30000 sq.ft. |
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Location : |
Owned |
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Factory 1 : |
Unit
1 :
B-204, 205 & 206, Okhla Industrial Area, Phase I, Tel No: 91-11-2681 5631 / 7569 / 9176 / 8199 Fax No: 91-11-2681 9439 E Mail; amila@giasdl01.vsnl.net.in Web Site: http://www.ippindia.com Area: 30000 Sq. ft. Location: Owned Unit
2 :
C-4 to C-II, Phase II Extension, Hosiery Complex, Noida –
201 305, Tel No: 91-120-2568046 – 2568051 Fax No: 91-120-2568045 Area: 32000 sq. mtrs Location: Owned |
DIRECTORS
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Name : |
Mr. Ravinder Kumar Singhvi |
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Designation : |
Chairman |
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Address : |
E-227, East of Kailash, |
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Date of Birth/Age : |
26.01.1950 |
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Date of Appointment : |
11.12.1981 |
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Name : |
Mrs. Amila Singhvi |
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Designation : |
Managing Director |
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Address : |
E-227, East of Kailash, |
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Date of Birth/Age : |
15.11.1951 |
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Date of Appointment : |
11.12.1981 |
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Name : |
Mr. Sher Singh Bhandari |
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Designation : |
Director |
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Address : |
Paras, 36, Vithal Nagar, Road No. 11, Mumbai – 400 049, |
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Date of Birth/Age : |
13.09.1919 |
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Date of Appointment : |
07.05.1998 |
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Name : |
Mr. C. L. Handa |
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Designation : |
Director |
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Address : |
L-1/17, DLF Qutab Enclave, Gurgaon, |
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Date of Birth/Age : |
03.03.1937 |
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Date of Appointment : |
01.04.1993 |
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Name : |
Mr. S. R. Mohnot |
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Designation : |
Director |
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Address : |
905, Chiranjiv Towers 43, Nehru place, |
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Date of Birth/Age : |
15.03.1929 |
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Date of Appointment : |
07.05.1998 |
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Name : |
Mr. Dinesh Kothari |
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Designation : |
Director |
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Address : |
M-22, Greater Kailash, |
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Date of Birth/Age : |
30.08.1978 |
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Date of Appointment : |
07.05.1998 |
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Name : |
Mr. Rishabh singhvi |
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Designation : |
Director |
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Address : |
B-227, East of Kailash New |
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Date of Birth/Age : |
30.08.1978 |
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Date of Appointment : |
16.09.2002 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Rishabh Holding Private Limited |
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6740000 |
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Marketing and Sales Services |
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2921850 |
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Anand Sanghvi |
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1349250 |
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Rajandra Kurmar Sanghvi |
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1348000 |
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Category |
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Percentage |
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Bodies Corporate |
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56.00 |
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Director or relatives of directors |
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44.00 |
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BUSINESS DETAILS
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Line of Business : |
Subject is engaged in printing and manufacturing of pre-printing and printing materials. It is also engaged in colour scanning, phototype setting, plate making, processing for printing industry and printing. |
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Products : |
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Brand Names : |
“IPP” |
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Exports to : |
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Imports from : |
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Terms : |
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Selling : |
L/C or Credit terms |
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Purchasing : |
L/C, Credit and Cash terms |
PRODUCTION STATUS
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Particulars |
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Installed Capacity |
Actual Production |
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Mono cartons |
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30 mm / month |
25 mm / month |
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Books |
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1 m / month |
650000 / month |
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Labels |
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3 m / month |
2 m / month |
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GENERAL INFORMATION
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Suppliers : |
Some of its’ major suppliers are as under : Ř Ballarpur Industries Limited Ř R. C. Paper Mills Limited Ř ITC Bhadrachalam Limited |
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Customers : |
Its’ major customers include End Users, Corporates, Publishers and Advertising Agencies. Some of its’ major customers are as under : Ř
Ř
Nestle Ř
National Ř
Ř
Ř Hindustan Lever Limited Ř Amul Ř
Ř Emami Ř L’Oreal Ř
Ř Diechman Shoes Ř MilkFood, Ř
LG Electronics ( Ř Escorts Limited Ř Goodyear Ř NIIT Ř Ranbaxy Ř UNICEF Ř Hush Pipes Ř Allout Ř
Ř Sterling Agro (Nova Ghee) Ř Saatchi & Saatchi Ř Haku Hodo Ř Percept Ř Capital Ř
Ř Chelpark Ř LeBon (Dabon International) Ř Maxwell Ř HCL Ř Daewoo Motors Ř Eicher Ř Morepan Laboratories Ř Sobhagya Capital Options Limited Ř
Dhriti Printer, Ř
Moser Baer Contact Person : Mr. Anil Shukla – Manager Purchase Ř
Nestle India Limited, Nestle House, Contact Person : Mr. M. Aneja Ř
Mother Dairy, Patparganj, Contact Person : Mr. Khullar |
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No. of Employees : |
Around 353 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Doogar & Associates Chartered Accountants, |
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Address : |
13-Community Centre, East of Kailash, |
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Tel. No.: |
91-11-26281792 |
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Associates/Subsidiaries : |
Dhriti Printers Rishabh Holding OPrivate Limited Sobhagya Capital Options Limited TBS Exports Private Limited Marketing & Sales Services E-227, East of Kailash, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity shares |
Rs.10/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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13675750 |
Equity Shares |
Rs.10/- each |
Rs.136.757
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
136.757 |
136.757 |
136.757 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
308.825 |
250.583 |
212.639 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
445.582 |
387.340 |
349.396 |
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LOAN FUNDS |
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1] Secured Loans |
472.721 |
402.389 |
349.280 |
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2] Unsecured Loans |
185.226 |
202.086 |
0.000 |
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TOTAL BORROWING |
657.947 |
604.475 |
349.280 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1103.529 |
991.815 |
698.676 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
744.190 |
764.966 |
410.500 |
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Capital work-in-progress |
0.000 |
0.000 |
64.391 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
179.226
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137.321 |
78.076 |
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Sundry Debtors |
300.806
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235.852 |
193.309 |
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Cash & Bank Balances |
27.529
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16.500 |
24.851 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
25.679
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30.934 |
24.456 |
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Total
Current Assets |
533.240
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420.607 |
320.692 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
147.785
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174.196 |
96.907 |
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Provisions |
26.116
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19.562 |
0.000 |
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Total
Current Liabilities |
173.901
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193.758 |
96.907 |
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Net Current Assets |
359.339
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226.849 |
223.785 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1103.529 |
991.815 |
698.676 |
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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 |
916.745 |
690.716 |
553.459 |
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Other Income |
9.717 |
8.504 |
3.335 |
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Increased/ Decreased in Stocks |
0.000 |
0.000 |
14.929 |
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Total Income |
926.462 |
699.220 |
602.9534 |
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Profit/(Loss) Before Tax |
77.174 |
51.238 |
36.850 |
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Provision for Taxation |
13.881 |
29.865 |
3.310 |
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Profit/(Loss) After Tax |
63.293 |
21.373 |
33.539 |
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Earnings in Foreign Currency : |
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Other Earnings |
0.000 |
69.348 |
58.695 |
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Total Earnings |
0.000 |
69.348 |
128.043 |
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Imports : |
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Raw Materials |
0.000 |
18.621 |
6.811 |
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Stores & Spares |
0.000 |
7.772 |
9.786 |
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Capital Goods |
0.000 |
199.223 |
11.022 |
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Total Imports |
0.000 |
225.616 |
27.619 |
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Expenditures : |
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Manufacturing Expenses |
0.000 |
0.000 |
397.251 |
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Administrative Expenses |
0.000 |
0.000 |
79.801 |
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Financial Expenses |
0.000 |
0.000 |
26.576 |
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Raw Material Consumed |
541.002 |
395.864 |
0.000 |
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Purchases made for re-sale |
0.000 |
0.000 |
0.000 |
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Salaries, Wages, Bonus, etc. |
47.696 |
35.601 |
0.000 |
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Managerial Remuneration |
2.611 |
2.611 |
0.000 |
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Payment to Auditors |
0.115 |
0.095 |
0.000 |
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Interest |
51.599 |
41.452 |
0.000 |
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Insurance Expenses |
4.970 |
4.423 |
0.000 |
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Power & Fuel |
29.153 |
32.665 |
0.000 |
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Depreciation & Amortization |
0.000 |
0.000 |
31.206 |
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Loss on |
0.000 |
0.000 |
0.037 |
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Other Expenditure |
172.142 |
135.271 |
0.000 |
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Total Expenditure |
849.288 |
647.982 |
534.871 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
6.83
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3.05 |
5.56 |
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Net Profit Margin (PBT/Sales) |
(%) |
8.41
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7.41 |
6.65 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.04
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4.32 |
5.03 |
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Return on Investment (ROI) (PBT/Networth) |
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0.17
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0.13 |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.86
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2.06 |
1.27 |
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Current Ratio (Current Asset/Current Liability) |
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3.06
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2.17 |
3.30 |
LOCAL AGENCY FURTHER INFORMATION
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This form is for |
Creation of
Charge |
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Charge
identification number of the charge to be modified |
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Corporate
identity number of the company |
U22219DEL1981PLC1012808 |
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Name of the
company |
INTERNATIONAL
PRINT –O-PAC LIMITED |
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Address of the
registered office or of the principal place of business in |
B-204 Okhla Industrial Area, Phase-I, |
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Type of charge |
Movable Property |
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Particular of
charge holder |
Canara Bank
Corporate Services Branch, Ground Floor, 38, Ansal Towers Nehru Place, New Delhi;110019,
India |
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Nature of
description of the instrument creating or modifying the charge |
Common
Hypothecation Agreement Dated |
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Date of
instrument Creating the charge |
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Amount secured by
the charge |
Rs.60.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As Specified by
the Bank From time to time Terms of
Repayments As Per Agreement
Dated Margin: As Per Agreement
Dated Extent and
Operation of the Charge: First exclusive
charge on the Project fixed assets of the company Other: |
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Short particulars
of the property charged |
First exclusive
charge on the project fixed assets of the Company |
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Date of latest
modification prior to the present modification |
-- |
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Particulars of
the present modification |
-- |
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Name of the company |
INTERNATIONAL
PRINT-O-PAC LIMITED |
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Presented By |
ING Vysya Bank Limited
and INTERNATIONAL PRINT-O-PAC LIMITED |
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1) Date and description of instrument creating the change |
General Hypothecation Agreement Letter of Hypothecation to secure time
trust loan against goods Export Credit agreement all dt: 30.08.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.108.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Pari Passu first
Charge along with Canara Bank on the entires stocks of the Company raw
materials, paper, due, ink, films etc. stock in process, stores and spares
and finished goods of printed materials from time to tiem Second PAri Passu
charge along with Canara Bank on the entire fixed assets, block of th company
except vechicles financed by banks and machineries financed by LBBW and Baden
Wurttemberg Bank. First Pari Passu charge along with Canara Bank on the
entire book debts receivables of the company from time to tiem. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure the following credit facilities sanctioned to the company. 1) Cash Credit Rs.80.000 Millions (Interest
IVRR-3.00% with monthly rests) Sub Limits; ia) PCL/PCFC/FBP/FBN Rs.50.000
Millionsib) Cheques purchase Rs.20.000 Millions (Interest IVRR-3.50% with
monthly rests) 2) ILC/FLC Rs.28.000 Millions |
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5) Name and Address and description of the person entitled to the charge. |
ING Vysya Bank
Limited 23, |
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6) Date and brief description of instrument modifying the charge |
Letter Ceding
Pari Passu Cahrge From Canara Bank Dt: 02.09.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Canara Bank has
confirmed that the charges created/ to be created by M/S. International
Print-O-Pack Limited in favour of Canara Bank shall rank Pari-passu with the charge
created/to becreated by the company in favour or ING Vysya Bank Limited as
mentioned below vide Letter ceding pari-passu charge from Canara Bank dt:
02.09.2005 attached
Funded
Non Fund Working
Capital Based Limits Rs. in
Millions Rs. in
Millions Canara Bank 120.000 42.000 ING Vysya Bank
Limited 80.000 28.000 Securities: Pari Passu first
charge on the entire Current Assets of the company from time to time. Pari
Passu 2nd charge on the entire fixed assets of the company except
vehicles financed by banks and machineries financed by LBBW and Baden
Wurttemberg Bank-Other terms and Conditions remain same. |
This
year the company met audit partmeters of global business and purchasing
houses a prerequisite for becoming their preferred supplier.
It has significantly added to its product
portfolio and customers markets. This year the export of calendars, diaries,
book and stationery items reached an all time high and our export turnover
increased to Rs. 76.950 Millions during the year in comparison to Rs.57.322
Millions during the the year 2003-2004 a growth of 34.24%
Future Plans:
They except exports to future rise in the
current financial year. The company has made its presence felt.. In the most
quality conscious markets of
In the domestics market, they have been
packing the most aggressively marketed national brands and have become
preffered vendors, supplying to the most discerning clientele. They are
constantly developing packing solution and supplying its stocks to our
customers in tandem with their production cycle.
The technological up-gradation at IPP has led
to precision in every process, digitization and online callbration to set
systems in synchrony, new online features and above above all, rich
experienced, in the times ahead, our priority would continue to integrate
future on the value chain enchance our efficiencies and home our competence.
The company an ISO 9001:2000 is now working
towards earning higher ISO and other global certification
Achievements:
This year the company has witnessed a
remarkable transformation. It expanded its capacity by 100% installed a
completely automated high volume enveloped making division along with precision
binding and finishing equipment lines to complete and complement the work flow.
The company has demonstrated that it can
successfully complete on global level. Comfort to the global standards, and
that it can do so at a lotheyr price and higher quality consistently. During
the year, The Company added the Outlook magazine to its list of Client along
with other major FMCG companies.
The expansion this year was led by acquisition
of the latest equipment, systems and machinery, including the Solna
Heat-Set-Web offset, the Man Roland Six Colour Coater with Interdeck UV, W+D
Classics Envelope Maker and Advanced systems for creating the Next Generation
appeal. The ability to Print on non-absorbent surface like foll and films hs
helped us add value to modern print requirements.
Fixed Assets:
Lease Hold –land
Building
Plant and machinery
Furniture fixture and fitting
Delivery Vehicles
Computer
Office Equipments
Electrical Equipments
Profile
We are one of the largest converter of cartons and labels in
Welcome to the
revolutionary world of paper conversion with International Print-O-Pac (IPP),
In Reminiscence
Circa 1982. International Print-O-Pac (IPP)
Circa 2004.IPP is one of Asia’s finest printing, packaging and
publishing support services organizations today, replete with two
state-of-the-art production facilities that reflect the excellence of ISO
9001:2000 on every front. Today, IPP epitomizes technological dexterity, high
caliber human asset and passion for perfection, as it continues to deliver high
quality with speed, consistency and cost-effectiveness every time.
The Location
The first production unit is spread over three buildings in
the heart of Okhla Industrial area in south
The Strengths
The People - More than 250 technically qualified
specialists of IPP, wielding the best equipment & machinery from
Pre-Press - High-end scanners, systems, Imagesetters and Power Macs complement the Dolev 800 for generating large format output. The Dolev 800 is capable of 8-page imposition with punch, which eliminates the need of manual imposition. Amongst the latest equipment & machinery acquisitions at IPP is the Computer to Plate (CTP), which produces plates with First-Generation dots using FM & AM screening for enhancing the quality and speed of reproduction. IPP is also known for its desktop publishing and design support it provides to its publisher clients.
Press - It comprises a veritable fleet of Sheet-fed
offset colour machines, including the single, double, four, five, six and
eight-colour offset presses from the global leader Man Roland. The 8-colour
offset press was
Post-Press - It has the best machines for cutting, stitching, die-cutting, folding-glueing and other related operations. The new Envelope Making Unit is in installation stage.
Digital Printing - Dedicated to producing high-quality billboards,
translites & other display applications. Output is available on a variety
of substrates in a maximum of 48” width (length, as desired).
Design & Page Production - As a part of our drive to provide a more holistic range of services, a new division has been created at IPP for design and page production – called eIPP. In a nutshell, eIPP is a business process outhouse for the publishing industry, dedicated to producing quality books. With eIPP, IPP has taken a leap forward in integration on the printing and packaging value chain, which will help provide a more comprehensive range of services to a more diverse group of customers.
Creo CTP
We have the Creo prepress CTP (computer to plate) system which gives first-generation FM screening for superior reproduction quality
Heat Set Web:
The Solna CG 96H Heat-Set Web is IPP's latest acquisition. It is a 16 page magazine format perfecting machine equipped with a Solna Press Control. This provides the machine with total ink, water and colour register control. The machine comes with a gas dryer and a folder designed for quarter folds and double parallel folds. It has a normal printing speed of 35,000 revolutions per hour and a cut off range of 578mm. It will be primarily used for printing magazines, tabloids, children's books, newspaper inserts and other print jobs of such nature.
Envelope Making
With the deluge of direct marketing tools the world over, a flood of Direct Mailers are sent in a myriad of different directions every day. At IPP, we can now produce an array of envelopes to suit your needs. We have the W+D Classic Envelope Maker that is a blank fed envelope and pocket making machine for the lower size range. It is a universal machine, suitable for manufacturing envelopes and pockets from small sizes up to C4 sizes with side and centre-seam gumming. Our envelope making machine is capable of online printing in 2 + 1 (front and inside) colours, window section for single or multiple windows and is equipped to run both, remoistenable labels and self seal gumming envelopes.
Products
- Design and Page Production
- Printing
- Packaging
- Labels
The company's fixed assets of important value include telephone, fax machine, computers, air-conditioner, Xerox machine and furniture.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.53 |
|
|
1 |
Rs.80.41 |
|
Euro |
1 |
Rs.54.52 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
47 |
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 |
|