MIRA
INFORM REPORT
|
Report Date : |
22.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MANIPAL PRESS
LIMITED |
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|
|
Formerly Known As : |
MANIPAL POWER PRESS |
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Registered
Office : |
Udayavani Building,
Press Corner, Manipal – 576 104, Karnataka |
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Country : |
India |
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|
|
Financials (as
on) : |
31.03.2007 |
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Date of
Incorporation : |
13.01.2000 |
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Com. Reg. No.: |
08-26222 |
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CIN No.: [Company Identification No.] |
U22219KA2000PTC026222 |
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TAN No.: [Tax Deduction & Collection Account No.] |
BLRM05742C |
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PAN No.: [Permanent Account No.] |
AABCM9516H |
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|
Legal Form : |
Closely held
Public Limited Liability Company |
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Line of
Business : |
Subject is
engaged in as Printers and Publishers of security Items, like Cheques, Drafts
Scratch Card, Simcard, Annual Report, etc. |
RATING &
COMMENTS
|
MIRA’s Rating
: |
Aa |
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 |
|
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 an old
established company having fine track records. Available information indicates high financial responsibility
of the company. Financial position is
good having strong Reserves and Surplus position. Trade relations are fair.
Payments are correct and as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office : |
Udayavani
Building, Press Corner, Manipal – 576 104, Karnataka, India |
|
Tel. No.: |
91-820-2571121 /
2571151 to 55 / 271149-59 |
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Mobile No: |
91-9845157730 |
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Fax No.: |
91-820-2570131 /
2571162 / 70563 |
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E-Mail : |
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Website : |
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Area : |
50000 sq. ft. |
|
Location : |
Owned |
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|
Branches : |
Ø
Manipal Centre,
47, Dickenson Road, Bangalore – 560042, Karnataka, India Tel. No. 91-80-5581779/5588467 Fax No. 91-80-5586898 Mobile : 9845243203 E-mail : richard@manipalpress.com Ø
Auras
Corporate Center, Dr. Radhakrishnan Salai – 600004, Chennai, Tamilnadu, India Tel. No. 91-44-28544836/28544761/28530177 Fax No. 91-44-28530177 Ø
81/8, 2nd
Floor, Cheran Towers, 78, Government Arts College Road, Coimbatore – 641018,
India Tel. No. 91-433-2215302 Fax No. 91-433-2215302 Mobile : 9843023824 Ø
Oxford
Plaza, 1st Floor, S. Road, Secunderabad, Hyderabad, India Tel. No. 91-40-27706649 Fax No. 91-40-27700448 Mobile : 984902341 Ø
2nd
Floor, City Point Building, Navabharath Circle, Mangalore, Karnataka, India Ø
616, Dalamal
Towers, 21, Nariman Point, Mumbai, Maharashtra, India Ø
Icds
Limited, 1st Floor, Kalangote Towers, M G Road, North End,
Ernakulam, Kochi – 682 035 Ø
40 Ins Building, Rafi Marg, New Delhi – 110 048 Ø
Manipal
Press Limited, 10-2-274/5, Door No. 12, 1sr Floor, L P Estate, S P Road, St.
Ann High School, West Marrendappally, Secunderabad – 500 026 |
DIRECTORS
|
Name : |
Mr. Giulio
Olivotto |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Satish T Pai |
|
Designation : |
Director |
|
Address : |
38, Anant Nagar,
Manipal – 576 119, Karnataka, India |
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Date of
Birth/Age : |
26.11.1941 |
|
Date of
Appointment : |
13.01.2000 |
|
|
|
|
Name : |
Mr. Perdoor V
Mallya |
|
Designation : |
Director |
|
Address : |
D63C, Ananthnagar,
II Stage, Near Water tank, Manipal, Udupi-576104, Karnataka |
|
Date of
Birth/Age : |
31.08.1948 |
|
Date of
Appointment : |
25.01.2000 |
|
|
|
|
Name : |
Mr. Katapady
Prabhakar Kamath |
|
Designation : |
Director |
|
Address : |
Shivaprabha, Udupi,
Katapady – 547 105, Karnataka, India |
|
Date of
Birth/Age : |
21.04.1966 |
|
Date of
Appointment : |
25.01.2000 |
|
|
|
|
Name : |
Mr. Gautam T
Pai |
|
Designation : |
Director |
|
Address : |
38, Ananth Nagar,
Manipal – 576 119, Karnataka, India |
|
Date of
Birth/Age : |
26.09.1974 |
|
Date of
Appointment : |
30.09.2003 |
|
|
|
|
Name : |
Mr. Sachin Tonse
Pai |
|
Designation : |
Director |
|
Address : |
14, Anant Nagar,
Manipal – 576 119, Karnataka, India |
|
Date of
Birth/Age : |
10.03.1976 |
|
Date of
Appointment : |
16.04.2004 |
|
|
|
|
Name : |
Mr. Prabhu
Sudhakar |
|
Designation : |
Director |
|
Address : |
Gerukatte Karnad,
Mulki, Udupi, Karnataka-574154 |
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Date of
Birth/Age : |
12.04.1968 |
|
Date of
Appointment : |
25.01.2000 |
|
Date of Ceasing
: |
24.03.2005 |
|
|
|
|
Name : |
Mr. Tonse Satish
Upendra pai |
|
Designation : |
Managing Director |
|
Address : |
38, Ananth Nagar,
Manipal 576 104, Karnataka |
KEY EXECUTIVES
|
Name : |
Mr. Bharat K Nayak |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names
of Shareholders |
|
No. of Shares |
|
T. Mohandas Pai |
|
40500 |
|
T. Satish U. Pai |
|
170904 |
|
Madhav Ramadas
Pai |
|
190128 |
|
T. Narayana Pai |
|
81000 |
|
T. Ashok Pai |
|
186474 |
|
T. Gautam Pai |
|
163314 |
|
Manipal
Prakashana Private Limited |
|
1215000 |
|
T. Sachin Pai |
|
6000 |
|
Sandhya S Pai |
|
14064 |
|
T. Gayathri Pai |
|
23436 |
|
K. K. Pai |
|
5450 |
|
Rajan Ramdas Pai |
|
7026 |
|
Vasanthi Ramdas
Pai |
|
14064 |
|
Sharath
Investment company Private Limited |
|
47808 |
|
Shivalli
Investment Company Private Limited |
|
88128 |
|
T Sunil Ponse |
|
7032 |
|
T Sanjay pai |
|
9375 |
|
T. Narayan Pai and
Mrs. Vijaylaxmi N. Pai |
|
3516 |
|
Savoy Investment
Private Limited |
|
4686 |
|
T Upendra Satish
Pai, HUF |
|
3750 |
|
Manipal Media
Network Limited |
|
4359409 |
|
Legoprint SpA |
|
2846170 |
|
Total |
|
9487234 |
BUSINESS DETAILS
|
Line of
Business : |
Subject is
engaged in as Printers and Publishers. |
|
|
|
|
Products : |
Printing &
Call Centre Service |
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|
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Exports : |
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|
Products : |
Printing
materials / Books |
|
Countries : |
UK, Netherland |
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Imports : |
|
|
Products : |
Scratch Labels,
Ink, Spares |
|
Countries : |
China, UK, USA |
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|
|
|
Terms : |
|
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Selling : |
Cash |
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|
|
|
Purchasing : |
L/C |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
|
Printed Letter
Pads |
Nos. |
478.525 millions |
478.525 millions |
GENERAL
INFORMATION
|
Customers : |
Retailers. |
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No. of
Employees : |
1102 (331 in
Office and 771 in Factory) |
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Bankers : |
v
Syndicate Bank,
Manipal Branch, Manipal-576104, Karnataka, India v
Corporation
Bank, Manipal Branch, Manipal-576104, Karnataka, India v
Vijaya Bank,
Founders Branch, Vijaya Towers, LHH Road, Bangalore-575003, Karnataka, India v
Manipal
Co-operative Bank Limited v
State Bank
of India, Maiithri Complex, Udupi |
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Facilities : |
Credit Limit: Rs.
75.500 millions from Syndicate Bank Credit Limit: Rs.
13.000 millions from Corporation Bank
|
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Banking Relations : |
Good |
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|
|
|
Auditors : |
Ø
Sriramulu
Naidu & Company Chartered Accountants 2nd Floor, Rambhavan Complex, Kodialbail, Mangalore -
Manipal, Karnataka, India Ø
Pai Nayak
and Associates Chartered Accountants 3rd Floor, Raaj Towers, Near City Bus Stand, Udupi –
576101, Karnataka, India |
|
|
|
|
Associates : |
Sharath
Investment Company Private Limited Shivally
Investment Company Private Limited Manipal Prakashna
Private Limited |
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|
|
|
Holding
Company : |
Manipal Media
Network Limited |
|
|
|
|
Membership : |
Ø
Bank Stationers
Association Inc., USA Ø
Graphic Arts
Foundation, USA Ø
PIRA, UK |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 millions |
|
5000000 |
8% Redeemable Preference Shares |
Rs. 10/- each |
Rs. 50.000 millions |
|
|
Total |
|
Rs.250.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6641064 |
Equity Shares |
Rs. 10/- each |
Rs. 66.410 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
66.411 |
49.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
369.888 |
280.057 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
436.299 |
329.057 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
754.016 |
281.154 |
|
|
2] Unsecured Loans |
|
69.159 |
17.821 |
|
|
TOTAL BORROWING |
|
823.175 |
298.975 |
|
|
DEFERRED TAX LIABILITIES |
|
67.673 |
33.188 |
|
|
|
|
|
|
|
|
TOTAL |
|
1327.147 |
661.220 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
897.437 |
455.355 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.600 |
0.435 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
132.748 |
88.794 |
|
|
Sundry Debtors |
|
297.796 |
164.884 |
|
|
Cash & Bank Balances |
|
6.161 |
2.185 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
158.033 |
48.375 |
|
Total
Current Assets |
|
594.738 |
304.238 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
111.563 |
68.863 |
|
|
Provisions |
|
54.065 |
29.945 |
|
Total
Current Liabilities |
|
165.628 |
98.808 |
|
|
Net Current Assets |
|
429.110 |
205.430 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1327.147 |
661.220 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
1105.665 |
697.993 |
|
|
Other Income |
|
5.494 |
2.753 |
|
|
Total Income |
|
1111.159 |
700.746 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
184.592 |
96.995 |
|
|
Provision for Taxation |
|
63.280 |
33.823 |
|
|
Profit/(Loss) After Tax |
|
121.312 |
63.172 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Printing |
|
3.757 |
27.326 |
|
|
Informatics |
|
50.578 |
49.558 |
|
Total Earnings |
|
54.335 |
76.884 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
|
53.459 |
14.704 |
|
|
Stores & Spares |
|
6.104 |
4.129 |
|
|
Capital Goods |
|
368.763 |
32.106 |
|
Total Imports |
|
428.326 |
50.939 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
|
458.199 |
259.085 |
|
|
Operating Expenses |
|
136.000 |
105.442 |
|
|
Personnel Expenses |
|
98.855 |
85.492 |
|
|
Selling Expenses |
|
106.033 |
77.698 |
|
|
Interest |
|
51.975 |
27.203 |
|
|
Depreciation & Amortization |
|
49.813 |
35.596 |
|
|
Other Expenditure |
|
25.692 |
13.235 |
|
Total Expenditure |
|
926.567 |
603.751 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
PAT / Total Income
|
(%)
|
|
10.92 |
9.01 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
16.61 |
13.84 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
12.37 |
12.77 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.42 |
0.29 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
2.27 |
1.21 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
3.59 |
3.08 |
LOCAL AGENCY
FURTHER INFORMATION
History
The company was
Partnership concern reconstituted on 28.11.1999, with name and style of
‘Manipal Power Press’. Later on it has converted
as Joint Stock company on 13.01.2000 with the name and style of “Manipal Press
Private Limited”.
Again the company
has been converted as public limited company w.e.f. 04.04.2000.
The company’s
Security Products are as under :
Ø
FD (Fixed Deposit)
Receipts
Ø
Gift Vouchers,
Food Coupons
Ø
Game Tickets,
Passes, Booklets
Ø
Scratch off
Cards/Tickets and other promotional security
Ø
Statement of
Accounts
Ø
Billing
Statements
Ø
OCR/OMR Sheets
with Bar Coding
Ø
Boarding Pass
for Airlines
Ø
ATM Rolls
Ø
Fax Rolls
Ø
On line
Lottery Tickets
Ø
On line
Lottery AuthenticationTicket Rolls
Ø
Other High
Security Items
Ø
Cheques
Ø
Demand Drafts
Ø
Pay Orders
Ø
Personalised
Cheques with MIRC Numbering
Profile
The company was
established in the year 1941 as Manipal Power Press with the firm belief that
keen enterprise and refined professionalism lead to success.
The company lead
Security Printing in India and are one of the largest Stationery and Commercial
Printers.
Born out of a vision
to perfect the printed word, the Manipal Press Limited (MPL) is now at the
center of India’s Print Revolution.
It has grown with the times to embrace the latest in technology, and to offer
clients quality and punctuality at costs that make business sense.
In fact, this state-of-the-art 100,000 sq.ft. facility today offers 360 degree
solutions for all print-related projects.
Started in 1941, MPL prints a large variety of products in the commercial,
security, business forms and digital categories. Its advanced pre-press and
post-press divisions offer complete services from product design and
development to logistics.
Subject’s allied media-house Manipal Media Network Limited provides the vital
experience and link with publishing, while its BPO division, Manipal
Informatics, ensures 24x7 connectivity that always keeps MPL on its toes.
Vigil is incorporated into every step and the best quality assurance tools are
deployed. It’s no wonder then that the last 5 years have seen subject grow in
international presence. In the end, it’s all about Precision and Perfection in
Printing.
Services
Subject offers
complete Print Management Services to cover all your printing requirements.
Subject is in touch
with the growing demands and technological leaps in the industry to provide
optimal print solutions from Pre-Press to Press to Post-Press.
In fact, it doesn’t stop with printing. Subject is probably the only one of its
kind to offer Business Process Outsourcing facilities to handle your downstream
marketing, order taking, support and other requirements.
Manipal Informatics, a wholly owned subsidiary of Manipal Press, is its
typesetting, origination & e-publishing and BPO division and already
handles CRM for many offshore clients. Other examples of MPL's synergy with IT
include:
Infone Communications Inc., USA for its Business Directory printing,
e-commerce applications and direct
marketing.
Sahara Homes, UK for its Catalogue designing and printing,
and e-commerce applications.
Daminis, UK for its Stationery printing and e-commerce
applications.
While in India, subject handles complete
print solutions from books to mark sheets, and multimedia courseware
development for the e-learning initiative of the Manipal Academy for Higher Education (MAHE), the country’s largest
private university.
Products
The subject offers a comprehensive range of
highly specialized print solutions covering the entire gamut of products from
high-quality commercial printing to classified security printing. This has made
it one of the most sought-after printing facilities in India. The ability to
optimally utilize resources to handle unprecedented and uncommon jobs of any
volume resulting in greater cost efficiency for customers is its biggest USP.
Commercial
Products
Books
Directories
Magazines
Catalogues
Promotional Material
Annual Reports
Direct Mailers
Calendars
Comics
Diaries
Business Stationery
Security Products
Bond and Bearer Securities
Traveler's Cheques
Bank Cheques
Demand Drafts
Pay Orders
Share Certificates
Dividend Warrants
Interest Warrants
FD Receipts
Food Coupons
Scratch Cards
High-value Event, Lotto Tickets
Personalised Cheques with MIRC Numbering
Business Forms
Air Waybills
Bank Statements
Mark Sheets
Pre-printed Stationery
Direct Mailers
Vouchers and Invoices
Security Products available in the continuous stationery form:
Cheques
Demand Drafts
Dividend Warrants
Interest Warrants
Bond and Bearer Securities
Share Certificates
FD Receipts
Confidential Documents
Card Products
Telephone cards
Promotional scratch cards
Magnetic swipe cards
Digital Variable Data
Direct Mailers
Telephone Bills
Utility Bills
Frequent Flyer Statements
On-demand Books
Personalized Catalogues
Instruction Manuals
Personalized Security Products
It is in trade
terms with :
Ø
Bank of India
Ø
Dhanalakshmi
Bank
Ø
Lord Krishna
Bank
Ø
Mangalore
Chemicals and Fertilisers
Ø
Nagarjuna
Fertilisers and Chemicals Limited
Ø
Reliance
Capital Limited
Ø
Reliance
Industries Limited
Ø
Reliance Petroleum
Limited
Ø
Syndicate Bank
Ø
The Jindal
Vijayanagar Steel Limited
Ø
Vijaya Bank
Ø
Canara Bank
Ø
Indian
Overseas Bank
Ø
Karnataka Bank
Ø
Manipal
Academy of Higher Education
Ø
Manipal Media
Network Limited
Ø
PVS Group
Ø
Syndicate Bank
Ø
BASF
Ø
Bostic India
Limited
Ø
C.P. Aquaculture
India Limited
Ø
Can Fin Homes
Limited
Ø
DHL Worldwide
Express
Ø
Hindustan
Lever Limited
Ø
HPCL
Ø
I.N.G. Vysya
Bank
Ø
Jindal
Vijayanagar Steels
Ø
Kirloskar
Electric Company Limited
Ø
Life Insurance
Corporation India Limited
Ø
Mangalore
Refinery and Petrochemicals Limited
Ø
Premier
Instruments and Controls Limited
Ø
Reliance
Industries Limited
Ø
Standard
Chartered Grindlays Bank Limited
Ø
Taj GVK Hotesl
Ø
Toyota
Kirloskar Motors
Ø
TVS Motors
Limited
FIXED ASSTES:
· Land – Freehold, Leasehold,
· Buildings – Freehold, Leasehold
· Electrical fittings
· Furniture and fittings
· Office Equipments
· Plant and machinery
· Computers
· Car, Van, and other vehicles
Contingent Liabilities:
|
Particulars |
31.03.2007 |
31.03.2006 |
|
Letter of credit |
98.891 |
53.940 |
|
Bank Guarantees – Printing Division |
7.820 |
7.804 |
|
Informatics division |
0.500 |
0.500 |
|
Cheques / DD’s discounted |
0.014 |
0.743 |
|
Disputed Sales Tax Liability (Printing
Division) |
0.000 |
1.777 |
|
Disputed Income Tax liability for A Y 2001
-02 |
0.000 |
0.505 |
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.39.41 |
|
UK Pound |
1 |
Rs.81.37 |
|
Euro |
1 |
Rs.58.56 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
TOTAL |
|
74 |
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 |
|