%20LIMITED%20%2019-Oct-2007_files/image003.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
19.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PAR COMPUTERS ( |
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Registered Office : |
B/12, Jayawant Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.11.1992 |
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Com. Reg. No.: |
069650 |
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CIN No.: [Company
Identification No.] |
U72300MH1992PLC069650 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP10006D |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Subject offers a diverse range of products, solutions and services in systems,
software and infrastructure technology. |
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 38000 |
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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
records. 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 : |
B/12, Jayawant Industrial Estate, |
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Tel. No.: |
91-22-2497 1450 |
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E-Mail : |
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Website : |
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Corporate Office : |
31, Sai Nath Industrial Estate, |
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Tel. No.: |
91-22-2875590/28755078/40665900 (30 lines) |
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Fax No.: |
91-22-40665999 |
DIRECTORS
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Name : |
Mr. Yogesh Rasiklala Parikh |
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Designation : |
Director |
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Address : |
23, Hanuman Sharan, Bomanji Petit Road, Mumbai – 400 036, |
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Date of Birth/Age : |
08.09.1943 |
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Date of Appointment : |
20.11.1992 |
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Name : |
Mr. Mehtab Henry Gulrajani |
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Designation : |
Director |
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Address : |
201, Horizon Apartments, N S Road, J V P D Scheme, Juhu, Mumbai – 400
049, |
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Date of Birth/Age : |
15.12.1965 |
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Date of Appointment : |
06.09.1997 |
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Name : |
Mrs. Dipa Kartik Kapadia |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
15.03.1973 |
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Date of Appointment : |
28.08.1997 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Yogesh Parikh |
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133910 |
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Mr. Henry Lalchand Gulrajani |
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25010 |
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Mr. N K Venkitaraman |
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10 |
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Mr. Rasiklal Natvarlal Parikh |
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10 |
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Mrs. Geeta Yogesh Parikh |
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10 |
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Mrs. Nita Henry Gulrajani |
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25010 |
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Mr. Pradip Chimanlal Shah |
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10 |
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Mr. Mehtab Henry Gulrajani |
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20000 |
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Mrs. Sitara Mehtab Gulrajani |
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10000 |
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Laser Re-Nu International Inc. |
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200000 |
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Par Computer Sciences (Int.) Limited |
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336030 |
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Total |
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750000 |
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Category |
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Percentage
of Holding |
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Foreign holdings (Foreign institutional investor(s), Foreign
companie(s), Foreign financial institution (s), Non-resident Indian(s) or
overseas corporate bodies or Others |
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26.67 |
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Bodies Corporate (not mentioned above) |
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44.81 |
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Directors or relatives of directors |
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28.50 |
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Other top fifty (50) shareholders (other than listed above) |
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0.02 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject offers a diverse range of products, solutions and services in
systems, software and infrastructure technology. |
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Products: |
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PRODUCTION STATUS- As on 31.03.2004
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Particulars |
Unit |
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Actual
Production |
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Toner Cartridges |
Nos. |
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7345 |
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Inkjet Cartridges |
Nos. |
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1433 |
GENERAL INFORMATION
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Bankers : |
v
Punjab National Bank PNB House, E-mail: pnbhouse@vsnl.net
v
Standard Chartered Bank v
ANZ Grindlays Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sanjay C. Shah Chartered Accountants |
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Address : |
B/3, |
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Associates/Subsidiaries : |
v
Par Computer Sciences (Int.) Limited v
Par Integrated Systems Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
800000 |
Equity Shares |
Rs. 10.00 each |
Rs. 8.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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750000 |
Equity Shares |
Rs. 10.00 each |
Rs. 7.500
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 |
7.500 |
7.500 |
7.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.230 |
1.801 |
1.389 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.730 |
9.301 |
8.889 |
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LOAN FUNDS |
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1] Secured Loans |
9.002 |
9.662 |
7.820 |
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2] Unsecured Loans |
1.026 |
1.269 |
1.953 |
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TOTAL BORROWING |
10.028 |
10.931 |
9.773 |
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DEFERRED TAX LIABILITIES |
0.970 |
0.812 |
0.882 |
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TOTAL |
20.728 |
21.045 |
19.544 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.696 |
4.566 |
5.059 |
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Capital work-in-progress |
1.550 |
0.000 |
0.000 |
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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 |
7.368
|
8.802 |
8.522 |
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Sundry Debtors |
8.891
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7.046 |
6.850 |
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Cash & Bank Balances |
0.211
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0.152 |
0.116 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.102
|
3.615 |
4.118 |
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Total
Current Assets |
18.572
|
19.615 |
19.606 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.659
|
2.877 |
4.948 |
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Provisions |
0.434
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0.266 |
0.181 |
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Total
Current Liabilities |
5.093
|
3.143 |
5.129 |
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Net Current Assets |
13.479
|
16.473 |
14.477 |
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MISCELLANEOUS EXPENSES |
0.004 |
0.006 |
0.008 |
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TOTAL |
20.728 |
21.045 |
19.544 |
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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 |
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28.436 |
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Other Income |
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2.900 |
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Total Income |
22.998 |
26.971 |
31.336 |
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Profit/(Loss) Before Tax |
0.755 |
0.518 |
1.274 |
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Provision for Taxation |
-- |
-- |
0.316 |
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Profit/(Loss) After Tax |
0.755 |
0.518 |
0.958 |
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Export Value |
0.000 |
0.000 |
1.050 |
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Expenditures : |
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Purchase for Resale |
0.000 |
0.000 |
4.893 |
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Material Cost |
0.000 |
0.000 |
16.185 |
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Other Direct Cost |
0.000 |
0.000 |
2.050 |
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Personnel Cost |
0.000 |
0.000 |
1.912 |
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Administrative, Selling and Distribution and
Other Expenses |
0.000 |
0.000 |
2.862 |
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Financial Expenses |
0.000 |
0.000 |
1.185 |
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Depreciation |
1.539 |
1.054 |
0.976 |
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Interest |
13.357 |
1.441 |
0.000 |
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Other expenses |
7.346 |
23.958 |
0.000 |
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Total Expenditure |
22.242 |
26.453 |
30.063 |
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%20LIMITED%20%2019-Oct-2007_files/image004.gif){kind=small}
%20LIMITED%20%2019-Oct-2007_files/image005.gif){kind=small}
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 |
(%) |
3.28
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1.92 |
3.06 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.28
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1.92 |
4.48 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.11
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2.14 |
5.17 |
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Return on Investment (ROI) (PBT/Networth) |
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0.07
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0.05 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.55
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1.51 |
1.68 |
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Current Ratio (Current Asset/Current Liability) |
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3.65
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6.24 |
3.82 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
%20LIMITED%20%2019-Oct-2007_files/image006.gif){kind=small}
Computer Machines
Electrical Installations
Furniture and Fixtures
Office Equipments
Plant and Machinery
Motor Car
Form 8
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Name of the company |
PAR COMPUTERS ( |
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Presented By |
PAR COMPUTERS ( |
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1) Date and description of instrument creating the change |
10.02.1998 Hypothecation
Agreement (working capital) dated 10.02.1998 executed by Par Computers ( |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000
Millions by way of working capital facilities. |
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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 |
All the
Borrower’s present and future stocks of raw materials, work-in-progress,
finished goods, consumable stores and spares and all other current assets and
present and future book debts, including trusts receipts, decree, moneys
receivables, Government securities, claims, bills, contracts and investments.
|
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4) Gist of the terms and conditions and extent and operation of the charge. |
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5) Name and Address and description of the person entitled to the charge. |
PNB House, Fort,
Mumbai – 400 001 |
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6) Date and brief description of instrument modifying the charge |
21.03.2003 Hypothecation of
Goods and Book Debts to secure Cash Credit Facility. |
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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. |
v
Original
charge dated 1.02.1998 for Rs. 3.000 Millions v
Modification
dated 13.08.2002 charge increased from Rs. 3.000 Millions to Rs. 4.000
Millions v
By
the present modification charge increased from Rs. 4.000 Millions to Rs.
4.500 Millions. |
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Name of the company |
PAR COMPUTERS ( |
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Presented By |
Mr. Yogesh
Parikh, Director |
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1) Date and description of instrument creating the change |
Hypothecation
Agreement (Working Capital) dated 10.02.1998 executed by the Company in
favour of the Bank |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000
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 |
All the
borrower’s present and future stocks of raw material, work-in-progress,
finished goods, consumable stores and spares and all other current assets,
present and future book debts including trust receipts, decrees, moneys
receivables, Government Securities, claims, bills, contracts and investments. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin: Stocks – 25%,
Book Debts – 40%, Interest – 3.75% over PLR i.e. 16.25% + Tax |
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5) Name and Address and description of the person entitled to the charge. |
PNB House, Fort,
Mumbai – 400 001 |
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6) Date and brief description of instrument modifying the charge |
Agreement of
Hypothecation of Goods and Book Debts to secure Cash credit Facility
30.12.2003 |
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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. |
By this
modification dated 30.12.2003, the Bank has increased the Cash credit
facilities from Rs. 4.500 millions to Rs. 7.20 millions (With sub-limit
of Rs. 1.000 million towards Packing Credit Facilities and sub limit of Rs.
1.700 millions for Export Bill Negotiation FBP/FOUBNLC/FOUBNLC) All other terms
and conditions of the earlier modification dated 21.03.2003 remains same. |
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Corporate
identity number (CIN) Foreign company registration number |
U72300MH1992PLC069650 |
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Name of the
Company |
PAR COMPUTERS ( |
|
Address |
B/12, Jayawant
Industrial Estate, |
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This form is for |
Creation of charge |
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Type of Charge |
A charge on: v
Movable
property (not being pledge) |
|
Particulars of
the charge holder |
Punjab National
Bank PNB House, E-Mail: pnbhouse@vsnl.net |
|
Nature or
description of the instrument(s) creating or modifying the charge |
Hypothecation of
assets to secure Term Loans |
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Date of the
instrument creating or modifying the charge |
25.06.2007 |
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Amount secured by
the charge |
Rs. 3.000
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
(a) Rate of
Interest: Interest: 2.5%
over prevailing BPLR rate plus applicable interest tax per annum with monthly
rests. (b) Terms of
repayment: Quarterly
installments of Rs. 0.150 million plus interest. (c) Margin: 25%
on Machinery (d) Extent and
operation of the charge: Punjab National
Bank First Charge Holder. |
|
Short particulars
of the property charged (including location of the property) |
Hypothecation of machinery purchased out of the Tem Loan |
Website details attached:
Introduction
Offices
Their head office is centrally situated in
Mumbai (
Departments
They have three departments in their company:
Software (Web Solutions)
Web Design, Multimedia,
Graphics and Animation
IT Enabled Services
(Mainly data processing and back office processing)
Web Solutions and Back Office Processing are
their core areas of development and expansion. This is very much in lines with
the global trends in the IT industry, especially with regards to outsourcing
work to
Total Workforce
Out total workforce is approximately 100
employees. This constitutes of mainly 40 employees in the software and
multimedia department and 50 employees in the IT enabled Services departments.
Milestones Achieved
2003 - They are now recognized as a
"Microsoft Certified Partner" (Membership ID #565492) because of
their technological expertise in software development using Microsoft
platforms. They also have a number of "Microsoft Certified
Professionals" as part of their software team.
2003 - Tied up with eXant (
2001- Signed a contract with a Large
multinational having global presence to offer high volume data digitization
services.
2000 -Signed a contract with Zacks Investment
Research Inc. for analysis and processing of financial data.
1999 - Signed a contract with Entech Energy
Consulting for utlity bill processing and development of online energy
solutions.
1999 - Signed a contract with Bytemanagers
Inc. for high volume back office processing operations.
1999 - Opened a marketing office "PAR
Computer Sciences USA Inc." in
1998 - Signed a contract with Qualcomm Inc.
for datawarehousing, datamining and web based reporting.
1996- Developed a Software Product Recruit
Assist for
1995- Received first
1994 - Sold entire Infrastructure of Share
Activity to ICICI.
1992- Developed on-line Share Registry System.
1988 -Received Apple computer dealership.
1987 -Selected by Western railway to handle
data processing for their Recruitment.
1986 -Received Wipro's Dealership.
1983 -Software development project for the
Ministry of
1982 -Introduction of off-the-shelf products.
1980 -Imported PDP 11/34A, a fourth generation
digital computer.
1979- Company established on December 14.
PAR Computers has formed a subsidiary company
under the name of PAR Computers (
There is a strong, rapidly expanding global
market for Recycled Toner cartridges due to growing environmental
consciousness. In addition, developments in the industry have enabled Recycled
Cartridges to compete in quality with, and have been known to out perform,
brand new cartridges.
Laser Printer cartridges and Inkjet cartridges
are recurring requirements.
Users have a choice to buy new cartridges or
refilled cartridges. Now, a new option... Re-manufactured cartridges! Refilling
is simply adding more toner powder in case of Laser Printer cartridges or
refill with ink incase of Inkjet cartridges using a short-cut procedure
"drill and fill". Refilled cartridges prone to leakage that may cause
problem to the printers. The Re-manufacturing technique deals with flushing of
the residual ink, thorough cleaning and change of worn parts. It's a process
that makes re-manufactured cartridges as good as new or better.
The worldwide growth of laser and Inkjet
printers are significant. According to research, in 1996 the Recycled Toner cartridge
industry registered an average sales increase 29.5%. Industry analyses state
that global sales of Remanufactured Cartridges experienced a 32% compounded
annual growth rate during the year 1995-96. In the same period, total
international Laser Cartridge consumption increased by 24% from approximate 85
million to 130 million units! The Indian market is a Virgin market and it is
observed that Inkjet printers are becoming replacement of dot matrix printers.
There is no industry that, offers Remanufactured Cartridges. There is great
potential of this industry with respect to its cost. Selling prices of
remanufactured cartridges are generally 30%-40%less than the new cartridges.
Each cartridge can be recycled several times; hence there is substantial cost
savings.
Their mission is to provide their clients with
high quality cartridges. They strive to provide competitive pricing and
environment friendly products.
Group Company
Par Integrated Systems Private Limited
PAR is an integrated corporation that offers a
diverse range of products, solutions and services in systems, software and
infrastructure technology. They are driven by their passion for quality and
their commitment to customers. This drive has catapulted us among the leading
most admired companies in
PAR Integrated Systems Pvt. Ltd. has the
distinction of being System Integrator since 1986. As a system Integrator, PAR
provides hardware, software, and network and ERP solutions. PAR has many
clients that include public undertakings, large Corporates, medium and small
companies. Their after sale support is another service provided by us that has received
many laurels from their existing customers and is a major contributor to their
large installed base.
PAR provides end-to-end IT deployment
solutions to suit the every business need. They offer a vast range of system
integration solutions, products and services. Their product portfolio spans the
entire range of IT-related components, from computers, software, peripherals to
networking integration, enterprise resource planning, data warehousing and
mining and e-commerce storage devices and consumables. Their solutions and
products are backed by efficient after-sales support and other value-added
services like Facilities Management.
PAR has continued to be one of the leading IT
companies in
Presently their services include:
Computer Hardware:
PAR has a distinction of being the first and
the largest reseller of WIPRO range of computers and peripherals. PAR has over
10,000 installations of WIPRO computers in Mumbai and around
Products:
They offer their customers a wide range of
computers, software, printers, storage devices and networking components through.
Toward this, Wipro has entered into strategic relationships with global leaders
like Sun Microsystems, Acer, Oracle, Microsoft, Novell, Printronix, HP,
Clariion, ATL, 3Com, Intel, Computer Associates, Cisco, Lucent, EMC Corp. and
IBM.
Customer Services:
They provide a range of IT related services to
customers in the areas of maintenance, up gradation, Y2K readiness and
facilities management. They are the No. 1 customer services company in the
country.
Their sales engineers are trained to assist
end-users in charting out the requirements
Network Solutions:
PAR has several years of experience in
implementing network requirements of clients of various sizes from small to
large. PAR has in-house expertise to chart out customers' requirements and implement
the same neatly. They provide LAN, WAN and VPN Solutions. PAR deals in
varieties of the branded communication products such as CISCO, 3-COM, Nortel,
Lucent Technologies, etc. to assist its customers with the communication needs.
Wipro Net:
Wipro Net, their Internet services venture,
has been the leading intranet/extranet services provider in the country for the
past three years.
Software Solutions:
PAR has tied-up with Ramco to promote its
software solutions in the field of ERP - Enterprise Resource Planning and HRD
-- Human Resources Development.
Support:
How often have you spent sleepless nights
wondering whether the spares in the machines pass the grade? And how often have
you wished you could entrust all the hardware support requirements to one
reliable vendor? well, PAR has just the answer to the problem.
They offer support for a large range of
hardware brands and models, including Intel-based, RISC-based and Sun machines.
The PAR advantage is that you get good quality spares, at all times, and service from expert
engineers who are constantly in touch with the latest technological
developments. What's more, they provide desktop support across over 160
locations in the country (through Wipro Network). Their service is backed by
well-defined processes, a well-planned inventory of spares and world-class
expertise.
Their
expertise is supplemented by assured back line support from world leaders in
the IT industry. After sales service and support is the strongest feature of
PAR Integrated Systems Pvt. Ltd. PAR is one of the oldest support
franchisee of WIPRO serving its clients requirements of warranties and after
warranty services through Annual Maintenance Contracts. Besides hardware, they
provide software support, networking support and communication support.
Presently, they are handling nearly 2000 installations as after sales support.
Having worked with Oracle Financials for last
few years and with Ramco for over a year, they have the expertise and talents
to handle these assignments professionally.
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. 39.47 |
|
|
1 |
Rs. 80.59 |
|
Euro |
1 |
Rs. 56.18 |
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. |
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 |
|