MIRA
INFORM REPORT
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Report Date : |
03.09.2007 |
IDENTIFICATION DETAILS
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Name : |
COROMANDEL INFOTECH INDIA LIMITED |
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Formerly Known As : |
I C INFOTECH |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.06.2000 |
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Com. Reg. No.: |
45085 |
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CIN No.: [Company
Identification No.] |
U72900TN2000PLC045085 |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Providing high performance software services. |
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 11656 |
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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. 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 normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
“ |
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Tel. No.: |
91-44-28521526 |
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Fax No.: |
91-44-28520702 |
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E-Mail : |
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Financial |
57, |
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Tel. No.: |
91-44-42187796 |
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Corporate and Global |
No. 70, Westminister 4th Floor, Dr. Radhakrishnan Salai,
Chennai – 600 004, Tamil Nadu, |
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Tel. No.: |
91-44-42242424 |
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Fax No: |
91-44-42242425 |
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Tel No.: |
91-80-2299 6871 / 72 |
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Fax No.: |
91-80-2224 3863 |
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Old No. 78/New No. 103, Dr. Radhakrishnan Salai, Chennai – 600 004,
Tamil Nadu, |
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Tel. No.: |
91-44-45130435 |
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1st and 2nd Floor, B -66 Sector -63, Noida,
Uttar Pradesh – 201 3017 |
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Tel. No.: |
91-120- 4230727 / 28 /29 /30 |
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Fax No.: |
91-120-4260113 |
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ICINFOTECH Inc: |
5 |
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Tel No.: |
91-609 – 514-5174 |
DIRECTORS
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Name : |
Mr. Ramachandran |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
26.10.1948 |
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Date of Appointment : |
01.06.2000 |
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Name : |
Mr. Ashwin Srinivasan |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
22.07.1969 |
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Date of Appointment : |
01.06.2000 |
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Name : |
Mr. R. Srinivasan |
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Designation : |
Director |
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Address : |
19, 3rd Cross Street, Seethamma Colony Extn, Chennai – 600
018, Tamil Nadu |
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Date of Birth/Age : |
04.04.1956 |
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Date of Appointment : |
31.01.2001 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. N Srinivasan |
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100 |
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Mr. N Ramachandran |
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100 |
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Mr. R K Das |
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100 |
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100 |
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Mr. T V Swami Nathan |
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100 |
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Mr. G Balakrishnan |
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100 |
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Mr. Ashwin Srinivasan |
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100 |
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Trishul Investments Private Limited Company |
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49300 |
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Total |
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50000 |
Equity Share Break – up ( Percentage of Total Equity )
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Sr.
No. |
Category |
Percentage |
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1 |
Directors or relatives of directors |
0.60 |
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2 |
Bodies Corporate |
98.60 |
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3. |
Other top fifty (50) shareholders |
0.80 |
BUSINESS DETAILS
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Line of Business : |
Providing high performance software services. |
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Products : |
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GENERAL INFORMATION
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Customers : |
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Banking Relations : |
---- |
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Auditors : |
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Name : |
Mr. N Srikrishna Chartered Accountants |
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Address : |
Brahmayya and Company No. 48, |
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Associates/Subsidiaries : |
Nil |
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Holding company |
Trishul Investments Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity shares |
Rs.10/- each |
Rs.5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
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 |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.414 |
0.957 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.914 |
1.457 |
0.500 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
2.021 |
0.955 |
0.000 |
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TOTAL |
4.935 |
2.412 |
0.500 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.764 |
16.051 |
0.000 |
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Capital work-in-progress |
1.132 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.527 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
13.029
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1.382 |
0.000 |
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Sundry Debtors |
31.185
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8.952 |
0.000 |
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Cash & Bank Balances |
6.370
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0.630 |
0.499 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
12.235
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6.704 |
0.000 |
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Total
Current Assets |
62.819
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17.668 |
0.499 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
77.387
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31.413 |
0.132 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
77.387
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31.413 |
0.132 |
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Net Current Assets |
[14.568]
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[13.745] |
0.368 |
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MISCELLANEOUS EXPENSES |
0.080 |
0.106 |
0.132 |
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TOTAL |
4.935 |
2.412 |
0.500 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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38.477 |
19.410 |
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Other Income |
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0.024 |
0.054 |
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Total Income |
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38.501 |
19.464 |
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Profit/(Loss) Before Tax |
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2.296 |
2.077 |
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Provision for Tax |
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0.839 |
1.120 |
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Profit/(Loss) After Tax |
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1.457 |
0.957 |
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Export Sales ( FOB Value) |
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0.000 |
11.464 |
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Imports: |
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Capital Goods |
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0.000 |
5.336 |
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Expenditures : |
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Purchases made for re-sale |
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0.135 |
0.000 |
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Salaries, Wages, Bonus, etc. |
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31.247 |
18.255 |
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Payment to Auditors |
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0.025 |
0.002 |
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Interest |
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0.033 |
0.008 |
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Insurance Expenses |
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0.326 |
0.014 |
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Power & Fuel |
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1.522 |
0.571 |
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Depreciation & Amortization |
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2.028 |
0.590 |
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Other Expenditure |
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17.486 |
9.412 |
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Total Expenditure |
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52.802 |
28.852 |
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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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PAT / Total Income |
(%) |
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3.78 |
4.91 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.96 |
10.70 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.80 |
6.15 |
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Return on Investment (ROI) (PBT/Networth) |
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0.78 |
1.42 |
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Debt Equity Ratio (Total Liability/Networth) |
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26.55 |
21.56 |
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Current Ratio (Current Asset/Current Liability) |
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0.81 |
0.56 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
- Furniture and
Fixtures
- Computer and
Accessories
- Net Working
Equipments
- Office
Equipments
- Software Own
Use
Website Detail:
Subject is an aspiring software services company with selected industry focus
that provides solutions catering to the IT needs of growing business needs to
its customers. With over 275 professionals, both in India and North America,
they use the strategic global delivery model to accelerate the deliverables
with excellent technical skills and many years of industry experience to
delivery the end-to-end IT services to their clients.
Subject is the IT initiative of the business conglomerate, India Cements group,
a $650 million company with a legacy of over 60 years spread across in
diversified business industries of Cements, Sugar, Financial Services and
Information Technology.
Their Indian Head Quarters and
Being a CMMI level 3 Company, they are highly process driven to instill
confidence among their customers and partners, with regard to quality
deliverables and growing consistently.
IC Infotech India operations changes name to Coromandel Infotech India
Limited..
IC INFOTECH Global delivery center and other service centers in
BOB Mauritius has gone live on Finacle 7.4.3.01 on 7th May 2007.
Outsourced to Coromandel Infotech, this was biggest
implementation, in its way for any of the partners till date. The legacy
application replaced was Finacle 7.0.4. BOB was the pioneer in implementing
Finacle in
There were multiple systems being used, which has been replaced in many cases,
and some interfaces have been interfaced. The Legacy Finacle had around 400 odd
reports, which have been rationalized and the same is provided in ONS.Extensive
ONS customization done for BOB,
Industry Verticals
With years of experience, Coromandel Infotech has a deep understanding
and expertise of the Manufacturing, Banking, and Retail industries. Each
industry has its own set of challenges. While a bank strives to enhance its
customer care initiatives in the competitive marketplace, a retailer wants to
make its supply chain more efficient. In Manufacturing, banking, hospitality,
retail and e-governance, Coromandel Infotech helps enterprises across
industries solve complex problems, mitigate risks, and become operationally
excellent. More importantly, they have developed the methodologies to combine
this understanding with business smarts to deliver high performance for their
clients.
Clients experience the power of their vertical organization. They can
count on their expertise being focused and specialized in their industry. The
competencies ranging from strategy consulting to implementation with a wide
bandwidth of technology solutions.
Working closely with their clients, they have increased their
operational effectiveness and efficiency by enabling them to outsource
non-strategic processes and refocus resources on core activities. They achieve
this through a powerful combination of domain expertise, process excellence and
a flexible, responsive and personalized approach to service.
The Coromandel Infotech approach to industry verticals has helped their
clients reduce the time-to-market required for new product and service
introductions, and has lowered operational costs. Their long-term relationships
and high rate of repeat business are a testimony to the success of their
approach. Augmenting domain knowledge with flexible and responsive service,
they add value to their clients operations, boosting efficiencies while driving
down the cost of doing business.
Shri. N. Srinivasan, Chief Advisor
Mr. N. Srinivasan is the Vice Chairman and Managing Director of the India
Cements Limited., a major conglomerate in south
Mr. N. Srinivasan was the Sheriff of Madras for two terms (1989-91). He
was the President of the Cement Manufacturers Association for three terms
(1991-94), and Chairman of the Board of Governors of the National Council for
Cement and Building Materials (NCBM) for two terms (1991-93).
He was also the Chairman of Development Council for Cement Industry (DCCI)
constituted by Government of India for two terms (1992-96). He was also the
president of the Madras Chamber of Commerce and Industry for two terms
(1996-98). During the year 2000-2001, he was the President of the All India
Organization of Employers.
He is presently a member of the Development Council for Cement Industry.
Other Positions that he holds
- The Chairman
Finance Committee of Federation of Indian Chambers Of Commerce and
Industry (FICCI), Member of the Executive Committee and Steering Committee
of FICCI,
- Director on
the Board of Andhra Pradesh Gas Power Corporation Limited.,
- He has
recently been inducted as a member of Tirumala Tirupati Devasthanam Board
and also to Sri Venkateswara Institute of Medical Science, Tirupati.
- Member of the
high profile Prime Minister's Council on Trade and Industry,
- The president
of the Tamilnadu Cricket Association,
- President of
the All
- Treasurer of
the Board of Control for Cricket in
Mr. N. Srinivasan, a post
graduate in Chemical Engineering From Illinois Institute Of Technology,
Shri. N. Ramachandran, DirectorShri
N.Ramachandran is the Executive Director of the India Cements, a major
conglomerate in south
The other major directorships held by Shri
N.Ramachandran are:
- E.W.Stevens
and Company Private Limited,
- ICL Financial
Services Limited,
- ICL
International Limited,
- Visaka Cement
Industry Limited,
- ICL Sugars
Limited.
A keen sportsman, Shri N.Ramachandran is actively associated with
several sports organizations. In his capacity as President of the Indian
Triathlon Federation Shri N.Ramachandran pioneered, promoted and popularized
the comparatively new and grueling sport of Triathlon in
Shri N.Ramachandran is the Associate Vice president of the Indian
Olympic Association and Vice President of the Tamil Nadu Olympic Association.
He is also the Secretary General of the Squash Rackets federation of
Shri N.Ramachandran, a graduate in Chemical Engineering from A.C.
Institute of Technology, Chennai, is the son of late Shri .T.S.Narayanaswami,
Founder of The India Cements Limited., and a pioneer industrialist of Tamil
Nadu.
Management
Combined with over 150+ man years of experience, their Management has
highly seasoned Professionals with extensive Experience in Business Verticals,
a good blend of domain knowledge and technology.
Padmanabhan S - Executive
Vice President Mr. Padmanabhan (PAD) has played a key role in BFSI and
information technology industry for more than 30 years, managing business units
and organizations with operations in
Since joining Coromandel Infotech in 2004, he has been instrumental in
formulating the company's strategy and building and managing the organization's
development. He has vast experience with the Asian and European markets. His
value to the company lies in his ability to forge and manage lasting
partnership with renowned global companies.
PAD believes in Client focus and relationship for the growth of the
business. Through out his career he has played a key role building relationship
with global players in the financial segment like SWIFT, VISA, Mastercard and
other leading banks and service providers. He believes in creating a culture of
openness and transparency.
PAD as a professional and techno banker has played a significant role in
developing solutions and services to banking industry for over 2 decades. His
challenging career outside banking industry started with his assignment as the
Head of Banking with Indigo Technologies in 1994. During the last 12 years he
has created talented teams in Indigo Technologies, ESPACE and BITECH and has
provided these organizations valuable relationships with SWIFT, VISA, Master
Card and other banking, ERP and CRM companies strategic relationship which had
contributed for their significant growth.
Ananda Narayanan G - Vice President, Service Delivery and
Operations Mr. Ananda Narayanan brings on board his rich experience from
the manufacturing domain coupled with IT knowledge. He was formerly with India
Cements Limited, a leading Cement conglomerate in
He started his career as Cost Accountant in one of the largest Cement
Plants and rose to the level of Head of IT for the India Cements group. With
his knowledge on the processes and passion for Information Technology he was
able to make India Cements a truly an IT savvy company. He was responsible for
setting up a huge hybrid Wide Area Network for India Cements across the
country. During his long career he worked closely worked with Ernst and Young
for defining various IT processes for the Group. He is a Gold Medalist in
School and College, and a qualified Chartered Accountant and Cost Accountant.
He is also a member of the Expert Committee on Information Technology of the
Madras Chamber of Commerce and
Rajesh Rao -
Vice President, Business
Development Rajesh has more than 17 years of experience in Software
Consulting, Client Acquisition, Strategy and Business Development and held
positions as G.M and Director in large organizations in
He has worked in Accenture
He also has extensive product knowledge in banking and insurance
verticals along with technology horizontals like SAP R/3, .NET and Java/J2EE
having worked in
Rajesh comes with a strong focus in Quality with himself being a
Certified CSQP, as practitioner he has carried out software project audits. He has
been actively participating as expert panel in evaluating Mergers and
Acquisitions for US Companies.
Raman S - Assistant
Vice President Raman is heading the Financial Services Group business
unit. He is a seasoned techno banker with a proven domain knowledge in Trade
Finance, Treasury, Lending, Securities and Risk Management. His technical
capability includes designing complex banking applications, Managing multi
location projects across different continents.
He has 27 years of experience with 15+ years in banking domain and 12+
years in technology companies primarily focused on banking. He has managed
complex projects in different countries in Asiapac, Africa and
Over the years Raman has built relationships with the key players in the
Banking and Financial Services sector. As part of CMM initiative, Raman has
played a key role during the Level 5 assessment of a global software company.
Raman graduated Master of Science Applied Mathematics (operations
Research)from
Mohammed Elias - Head
Professional Services, INDIA Mohammed Elias serves as Head of Enterprise
Professional Services business unit of Coromandel Infotech, with responsibility
for all customer service functions including, staffing needs, business
development, account management and strategic relationship development. He has
over 20 years of industry experience spanning across Information Technology,
Training and Communication Industries in
Sivasenthil Kumaran - Delivery Manager Sivasenthil Kumaran
has more than 12 years of experience and is heading the delivery team which
provides the foundation for a successful and quality delivery of off-shore
projects. His experience includes spearheading off-shore delivery of many large
and multinational enterprises. He has brought in best practices and effective
methodology for Coromandel Infotech's off-shore development. He has
successfully completed engagements ranging from mid-size organizations to
complex and geographically distributed environments.
As a delivery manager, his ability to drive and motivate highly
qualified technical professionals steered the growth of Coromandel Infotech in
offshore outsourcing.
Prior to joining Coromandel Infotech, Siva has worked in
Ranganathan N - Head
Mobile and Smart card Solutions Mr. N.Ranganathan, heading mobile technology
and smart card initiatives of Coromandel Infotech has a flair for bringing in
innovations not only in technology but also in managing client relationship. In
his 12 years experience in the IT industry he has an extensive exposure of
bringing in innovative solutions in hand held devices for different verticals
like retail, manufacturing, government and banks.
He is innovative, result oriented, customer-focused executive, driven by
values and deliver the Coromandel Infotech commitments to the clients. He has
worked in various capacities in the areas of marketing, product management, and
strategy relationship building before he joined Coromandel Infotech.
He is instrumental in commencing the new technologies unit of Coromandel
Infotech and with in the short span of 15 months, has built with his team,
multiple solution frame works in mobile and smart cards for various verticals.
Ranga is a Computer Science Engineer from
Finacle – Infosis value partner
Semops
HP-invent
CMML
Oracle
TTD (Tirumala Tirupathi
Devasthanams)
The State of
Trishul Concrete
Trishul Concrete Private Limited, an associate company of
India Cements, is in the business of producing raw mix concrete for the
construction industry for the past 5 years. Its corporate office is located at
Alwarpet, Chennai; and factories are at Sidco Industrial Estate, Siruseri at
Chennai and at
The Apex Group
APEX TRANSWORLD group is a proactive organization providing effective outsourcing solutions in Computer Rental, Medical Transcription and to the growing corporate needs. With quality and consistency as a hall mark for Apex, it has a large clientele in various sectors including Software, ITES, Banking and Financial Services, Education and Research Institutes, Media, Government Sector, Firms, Telecom, Design and Construction, Shipping. Coromandel Infotech has entered into a strategic partnership with APEX group to support all the IT needs of APEX. inDice, the innovative and the integrated solution for the enterprise, has been customized and implemented to cater the growing needs of APEX.
Fifth Avenue is a reputed premier fashion design services
company, offering the finest quality and latest styles in women's, men's and
kid’s apparel. The Company focuses on research and development of new designs,
sampling and merchandising. With the consistent quality process,
Satyam Cinemas
Sathyam Cinemas a multiplex in Chennai, envisions in
providing the audience with a movie viewing experience comparable with
multiplexes world-wide. Sathyam Cinemas is the only multiplex in
Abhirami Mega Mall
Abhirami Group of Companies is one
of the pioneers in the entertainment industry with over fifty years of
experience. It has diversified into film / movie production, theaters and
entertainment halls. The group was the first one in
Tamil Nadu Cricket Association
Tamil Nadu Cricket Association
(TNCA) affiliated to the Board of Control for Cricket in
ITC
ITC ranks third in pre-tax profit among
Srikals Graphics
Srikals Graphics is one among the best commercial offset printers and designers. Srikals is well positioned to deliver the finest printing and packaging services for their clients with commitment to quality and service. They provide a gamut of printing services under one roof, including pre-press, press, post-press and packaging, and proves to the clients that they are the most cost-efficient, quality conscious, and committed people. To reach its customers worldwide, Srikals joined hands with Coromandel Infotech to build online application. The web application was designed and developed by Coromandel Infotech to manage the customer requests, quotes, leads and the data processing.|
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.40.91 |
|
|
1 |
Rs.82.57 |
|
Euro |
1 |
Rs.55.72 |
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 |
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 |
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 |
|