MIRA
INFORM REPORT
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Report Date : |
13.10.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
A – 407, Arun Chambers, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.09.2003 |
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Com. Reg. No.: |
11-142060 |
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CIN No.: [Company
Identification No.] |
U51431MH2003PTC142060 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Traders and exporters of Generic Pharmaceuticals
and Drugs. |
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 15000 |
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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 experience 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 : |
A – 407, Arun Chambers, |
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Tel. No.: |
91-22-23526069 / 23526059 / 23523569 |
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Fax No.: |
91-22-66519529 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Rupin Hemant Banker |
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Designation : |
Director |
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Address : |
15th Floor, |
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Date of Appointment : |
05.09.2003 |
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Name : |
Mrs. Meenakshi Rupin Banker |
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Designation : |
Director |
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Address : |
15th Floor, |
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Date of Appointment : |
05.09.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Rupin Hemant Banker |
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39320 |
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Mrs. Meenakshi Rupin Banker |
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10680 |
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Total |
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50000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Traders and exporters of Generic Pharmaceuticals
and Drugs. |
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Products : |
Ø
Sildenafil
Citrate-Generic Viagra Ø
Tadalafil Ø
Atorvastatin-Generic
Lipitor Ø
Finasteride-Generic
Propecia Ø
Sibutramine-Generic
Meridia Ø
Celecoxib-Generic
Celebrex Ø
Sertaline-Generic
Zoloft Ø
Levofloxacin-Generic
Levaquin Ø
Tramadol-Generic
Ultram Ø
Azithromycin-Generic
Zithromax Ø
Simvastatin-Generic
Zocor Ø
Clopidogrel
bisulfate-Generic Plavix Ø
Esomeprazole-Generic
Nexium Ø
Metformin-Generic
Glucophage Ø
Ciprofloxacin-Generic
Cipro |
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Exports : |
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Countries : |
North America, Middle-East and |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
H. R. Joshi and Company Chartered Accountants |
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Address : |
43/45, Ganesh Bhuvan, 1st Floor, 2nd |
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Memberships : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.500 |
0.500 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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3.367 |
1.603 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.867 |
2.103 |
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LOAN FUNDS |
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1] Secured Loans |
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1.343 |
0.485 |
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2] Unsecured Loans |
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0.562 |
7.029 |
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TOTAL BORROWING |
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1.905 |
7.514 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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5.772 |
9.617 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.097 |
0.782 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.200 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.974 |
0.412 |
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Sundry Debtors |
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5.350 |
8.367 |
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Cash & Bank Balances |
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3.138 |
0.432 |
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Other Current Assets |
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0.701 |
0.766 |
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Loans & Advances |
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6.185 |
1.102 |
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Total
Current Assets |
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16.348 |
11.079 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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11.283 |
1.031 |
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Provisions |
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1.602 |
1.231 |
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Total
Current Liabilities |
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12.885 |
2.262 |
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Net Current Assets |
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3.463 |
8.817 |
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MISCELLANEOUS EXPENSES |
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0.012 |
0.018 |
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TOTAL |
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5.772 |
9.617 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.82 |
4.65 |
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Current Ratio (Current Asset/Current Liability) |
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1.27 |
4.90 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 82-B, Mittal
Court Nariman Point, Mumbai – 400021,
AS PER WEBSITE
Profile
Subject is a traders and exporters of Generic
Pharmaceuticals and Drugs like Sildenafil Citrate, Tadalafil, Atorvastatin,
Finasteride, Sibutramine, Celecoxib, Sertaline, Levofloxacin, Tramadol,
Azithromycin, Simvastatin, Clopidogrel Bisulfate, Esomeprazole, Metformin, and
Ciprofloxacin. They are quality product providers and procure their products
from reputed WHO-GMP approved reputed pharmaceutical companies such as Cipla,
Ranbaxy, Ajanta, Cadila, Glaxo, Nicolas, German Remedies, Ind-Swift, Johnson, S
Kant and many more. They have a large distribution network spread
around the world and achieving customer satisfaction is their main motto.
Key Features
- Premium quality
- Purity,
safety and effectiveness
- Comprehensive
set-up
- Well equipped
warehouse
- Timely
delivery schedules
- Quick order
processing
- Industry
leading prices.
Specialty
They are members of Federation of
Indian Export Organization, Indo-Brazilian Chamber of Commerce and a few
other trade bodies. They are also accredited with the ISO 9001:2000 certificate for their quality standards. They are
licensed by their State FDA. Being a trustworthy and responsible business
entity, they understand their social responsibilities and answerability and are
hence very particular towards the quality
of their products. Furthermore, their state of the art warehousing
facility not only allows them to store their products but also enables us to
deliver them quickly in the shortest time possible.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.33 |
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1 |
Rs.79.74 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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