MIRA
INFORM REPORT
|
Report Date : |
10.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
TRELLEBORG SEALING SOLUTIONS [ |
|
|
|
|
Registered Office : |
# 27, 32nd Cross, 7th Block, Jayanagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
19.05.1997 |
|
|
|
|
Com. Reg. No.: |
08-22248 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U85110KA1997PTC022248 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB01159E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCB2089G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers
of Tubes for Bronze Filling, Rubber Seals |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 470000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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
|
Registered Office : |
# 27, 32nd Cross, 7th Block, Jayanagar, |
|
Tel. No.: |
91-80-22455157 / 26555157 |
|
Fax No.: |
91-80-22455153 / 26555158 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
19/1, Kalena Agrahara, |
|
Tel. No.: |
91-80-26584616 |
DIRECTORS
|
Name : |
Mr. Krishna Kumar Shah |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
11.10.1942 |
|
Date of Appointment : |
19.05.1997 |
|
|
|
|
Name : |
Mr. Sanjeev Shah |
|
Designation : |
Director |
|
Address : |
# 196, 38th Cross, 5th Block, Jayanagar, |
|
Date of Birth/Age : |
16.12.1968 |
|
Date of Appointment : |
19.05.1997 |
|
|
|
|
Name : |
Mr. Weng Chong Lee |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
16.06.1957 |
|
Date of Appointment : |
11.03.2005 |
|
|
|
|
Name : |
Mr. Carsten Hoeg |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
05.02.1945 |
|
Date of Appointment : |
16.05.2005 |
|
|
|
|
Name : |
Mr. Bony Paul |
|
Designation : |
Director |
|
Address : |
# 14, 6th Main, Subash, Chandra Bose Road, Naryanpa Block,
R. T. Nagar, Bangalore – 560032, Karnataka, India |
|
Date of Birth/Age : |
07.05.1964 |
|
Date of Appointment : |
16.05.2005 |
|
|
|
|
Name : |
Mr. George Elwin |
|
Designation : |
Director |
|
Address : |
# 4, Portesham Hill, |
|
Date of Birth/Age : |
26.12.1964 |
|
Date of Appointment : |
16.05.2005 |
|
|
|
|
Name : |
Mr. Bony Paul |
|
Designation : |
Director |
|
Address : |
No. 14, 6th Main, Subash Chandra Bose Road, Narayanappa
Block, R T Nagar, Bangalore – 560032, Karnataka, India |
|
Date of Birth/Age : |
07.05.1964 |
|
Date of Appointment : |
16.05.2005 |
|
|
|
|
Name : |
Mr. Larry Neipling |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Seven Ulf Ronesson Garden |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Class Evert Jorwall |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Venkatesh Koteshwar N |
|
Designation : |
Alternate Director for Mr. Sanjeev Shah |
KEY EXECUTIVES
|
Name : |
Krishnamurthy and Vijaynagar |
|
Designation : |
Company Secretary |
|
Address : |
Sri Hari Krupa, 23rd, 5th, A Main Road, Obalappa
Garden, K R Road, Bangalore 560 082, Karnataka, India |
|
Date of Birth/Age : |
|
|
Qualification : |
|
|
Experience : |
|
|
Date of Appointment : |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
K. K. Shah |
|
10 |
|
Sanjeev Shah |
|
10 |
|
Gita Krishna Investments Private Limited |
|
3980 |
|
Trelleborg Seling Solutions Inc. |
|
15999 |
|
Total |
|
19999 |
|
|
|
|
|
Equity Share
Breakup |
|
|
|
Category |
|
Percentage of
Holding |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
80.00 |
|
Bodies corporate |
|
19.90 |
|
Directors or relatives of directors |
|
0.10 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Tubes for Bronze Filling, Rubber Seals |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
No. of Employees : |
5,700 [Group] |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Radhakrishnan B. Chartered Accountants |
|
Address : |
Mittal Tower, 10th Floor, ‘C’ Wing, 47/6, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20,000 |
Equity Shares |
Rs. 1000/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19,999 |
Equity Shares |
Rs. 1000/- each |
Rs. 19.999
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
19.999 |
19.999 |
19.999 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
97.449 |
58.065 |
29.424 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
117.448 |
78.064 |
49.423 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.351 |
0.444 |
0.000 |
|
|
2] Unsecured Loans |
162.100 |
195.023 |
0.000 |
|
|
TOTAL BORROWING |
163.451 |
195.467 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
280.899 |
273.531 |
49.423 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
131.548 |
157.337 |
8.308 |
|
|
Capital work-in-progress |
1.528 |
1.185 |
0.071 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
3.303 |
1.984 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
76.699 |
24.811 |
18.856 |
|
|
Sundry Debtors |
116.663 |
72.670 |
18.157 |
|
|
Cash & Bank Balances |
23.238 |
38.609 |
14.106 |
|
|
Other Current Assets |
4.351 |
2.177 |
0.538 |
|
|
Loans & Advances |
3.215 |
2.537 |
0.605 |
|
Total
Current Assets |
224.166 |
140.804 |
52.262 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
71.031 |
24.481 |
10.499 |
|
|
Provisions |
8.615 |
3.298 |
1.113 |
|
Total
Current Liabilities |
79.646 |
27.779 |
11.612 |
|
|
Net Current Assets |
144.520 |
113.025 |
40.650 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
280.899 |
273.531 |
49.423 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
|
Sales Turnover |
371.378 |
249.452 |
78.831 |
|
|
Other Income |
0.000 |
0.988 |
0.612 |
|
|
Total Income |
371.387 |
250.440 |
79.443 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
74.525 |
38.404 |
16.151 |
|
|
Provision for Taxation |
35.141 |
25.590 |
5.867 |
|
|
Profit/(Loss) After Tax |
39.384 |
12.814 |
10.284 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
Total Earnings |
36.938 |
19.232 |
0.000 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
|
|
|
|
Manufacturing Expenses |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
Raw Material Consumed |
|
|
|
|
|
Purchases made for re-sale |
|
|
|
|
|
Consumption of stores and spares parts |
|
|
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
|
|
|
Salaries, Wages, Bonus, etc. |
296.862 |
212.036 |
63.292 |
|
|
Managerial Remuneration |
|
|
|
|
|
Payment to Auditors |
|
|
|
|
|
Interest |
|
|
|
|
|
Insurance Expenses |
|
|
|
|
|
Power & Fuel |
|
|
|
|
|
Depreciation & Amortization |
|
|
|
|
|
Other Expenditure |
|
|
|
|
Total Expenditure |
296.862 |
212.036 |
63.292 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2006 |
31.12.2005 |
31.12.2004 |
|
PAT / Total Income |
(%) |
10.60
|
5.11 |
12.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
20.06
|
15.39 |
20.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.95
|
12.88 |
26.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.63
|
0.49 |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.07 |
2.86 |
0.23 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.81 |
5.07 |
4.50 |
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Profile
- A business area of the Trelleborg Group.
- Company-owned Research and Development Centres in Europe and
- 30 company-owned manufacturing plants worldwide
- Over 40 Marketing Companies offering application engineering
- Quality Certifications: ISO 9001:2000 and ISO/TS 16949:2002
- Company-owned polytetrafluor-ethylene- and polyurethane-development
- Company-owned elastomer development
- More than 2,000 material formulations
- Worldwide distribution network
Founded
in the early fifties, Trelleborg Sealing Solutions is today a worldwide leading
supplier of high-quality products and solutions for industrial sealing and bearing
systems. Their core activities are focused in the following business areas:
automotive, aerospace, mechanical engineering, stationary hydraulics, mobile
hydraulics, pneumatics, fluid power engineering and electrical engineering,
chemical industry, process engineering, the food and pharmaceutical industries,
semiconductor/chip manufacturing, oil and gas equipment, sanitary and heating
technology, as well as medical engineering.
Their customers are the world market leaders in these business areas, and
include: Liebherr, Husky, Rexroth Bosch Group, Sauer Danfoss, Tetrapak,
Westfalia, Wartsila, Rolls Royce, Valmet, KYB, Airbus, DaimlerChrysler, TRW
Automotive, ABB, BMW, Komatsu, Magnetti Marelli and Iveco.
Trelleborg Sealing Solutions Research and Development
Centres, in close cooperation with worldwide partners, are engaged in an on-going
program of material and product developments utilising the latest technologies
that provide customers a competitive advantage. From their material database of
over 2,000 formulations, they can select the ideal material for all
applications. For example, they have developed high-performance polymers for
the most demanding conditions with temperature extremes from -254 to +325
degrees centigrade. One of the main focal points of their latest R+D activities
is the development of high-performance polyurethane to meet specific customer
requirements.
Their company-owned test facilities and comprehensive Quality Assurance
guarantee consistent high quality. On a worldwide level, their facilities are
certified to ISO 9001:2000 and ISO/TS 16949:2002.
With 30 strategically located worldwide manufacturing sites and a commitment to
best-practice techniques in lean manufacturing, they undertake leading
processes and cost-effective manufacturing in each region. Fully integrated
production facilities ensure the highest quality standards, from design and
compound formulation through to product manufacturing, final assembly and
shipping.
In
addition they have completely aligned their logistical support to match
changing customer needs and provide an efficient chain of delivery at economic
cost. Over 40,000 different seals and sealing systems are shipped from the
various manufacturing sites to their central Logistics Centers in Europe, Asia
and
Trelleborg Sealing Solutions is a business area within The
Trelleborg Group , which develops, manufactures and markets safety-critical
polymer-based precision seals and associated systems.
Trelleborg is a global industrial group. Operations are based on spearhead
competence within polymer materials and a high level of industrial know-how,
combined with functional solutions and systems designed to meet the needs of
their customers. The Group has annual sales of approximately 2.5 billion € (SEK
22.5 billion) with about 21,000 employees in 40 countries. The head office is
located in
Product
Trelleborg Sealing Solutions material formulation
Comprises
a unique database of over 2000 material formulations, based on elastomer, PTFE
and thermoplastic technologies. This includes many high-performance polymers,
designed to operate in demanding environmental conditions at temperatures
ranging from -254°C to +325°C. On-going research ensures that they are at the
forefront of development in creating new materials to meet the highest
performance standards and the most stringent environment and safety demands.
Proprietary materials include Isolast® , Turcon® , Turcite® , Zurcon® , Orkot® , HiMod® and other materials .
Trelleborg Sealing Solutions
test capabilities
In-house
advanced capabilities and test resources permit extensive testing on materials
and finished components. The advanced testing enables them to meet increasing
pressure and temperature demands, provide leading edge performance and
eliminate the risk of seal failure. This also includes the evaluation of
synthetic fluids. Their development and test facilities are compliant with EC
and EPA environmental regulations.
Best practice manufacturing
With
30 strategically located manufacturing sites worldwide and a commitment to
best-practice techniques in lean manufacturing, they undertake leading processes
and cost-effective manufacture in each region. Fully integrated production
facilities ensure the highest quality standards, from design and compound
formulation through to product manufacture, final assembly and shipping.
Quality assurance
Continuous
improvement in all facilities and commitment to the concept of zero defects. Worldwide
facilities certified to ISO 9001:2000 and ISO/TS 16949:2002.
Turcon ®
A full
range of high performance engineered thermoplastic compounds developed for use
in sealing elements. Characteristics: very low friction to reduce power loss,
no stick-slip for positional accuracy and control, low wear for long life,
excellent chemical resistance / fluid compatibility
Turcite ®
A full
range of high performance engineered thermoplastic compounds for use as plain,
linear and wear-ring bearing elements. Characteristics: very low friction for
reduced power loss, no stick-slip for positional accuracy / control, good
specific bearing loads, low wear for long life, excellent chemical resistance /
fluid compatibility, unlimited shelf life, absorbs vibration during machining
HiMod ®
A
range of high modulus, high performance thermoplastics. Grades are available to
optimise performance in structural, chemical, electrical and high performance
sealing bearing applications.
Zurcon ®
A
range of high performance polymers developed for specific duties and service
within sealing applications. The material is available in a wide range of
compounds, additives and hardnesses to optimise the compatibility and
performance of sealing elements with the ever increasing range of industrial
fluid media. Of specific interest is the Zurcon® range of injection and cast
moulded polyurethanes designed to meet the rigorous demands of hydraulic and
pneumatic sealing systems. Characteristics: high mechanical strength, wear and
tear resistance
Isolast ®
A high
temperature perfluoroelastomer providing advanced sealing in the most hostile of
chemical and processing environments. New materials extend temperature
capability to over 300°C and offer the best chemical resistance of any high
temperature elastomer. An FDA compliant option is also available.
Luytex ®
A
non-asbestos synthetic composite bearing material for use as radial, axial or
plain bearings. Characteristics: extremely wear resistant, excellent
performance under dry and boundary lubrication conditions, available as wear
rings, custom-made bearings, fully machined to customers, specifications /
drawings.
Other materials
Trelleborg
Sealing Solutions also provides a wide range of thermoplastic and elastomeric
materials including filled and unfilled PTFE, PCTFE, ETFE, polyurethanes,
polyester elastomers, nitriles, silicons and fluoroelastomers. Products are
available to seal most liquid and gaseous media.
Within each material group
various compounds and hardnesses are available to meet the requirements of
specific applications including FDA, WRC, and other accredited bodies.
Continuous material and geometric design development helps Trelleborg Sealing
Solutions to maintain a leading position in sealing and bearing technology.
Since they specialise in
offering industry-specific solutions, they are able to provide customers
tailor-made sealing and bearing solutions, specifically developed to meet their
application requirements. In particular, they have long term experience in
sealing and bearing applications within the following sectors:
Aerospace
Chemical + Processing
Marine
Medical Technology
Mobile Hydraulics
Propulsion Technology + Electrical
Engineering
Sanitary + Heating
Semicon
Stationary Hydraulics
Oil + Gas
News
Updated
O-Ring calculator saves time and energy
24. May 2007
A free program providing an easy method of calculating
O-Ring specifications and housing designs is available on this website. The
O-Ring calculator can help save time and energy for engineers from all
industries where O-Rings are the main seal used. Originally launched in 2005,
the industry-leading program has now been updated.
The Trelleborg Sealing Solutions O-Ring calculator is
industry leading. With its unique functions, it is wholly intuitive and
remarkably easy to use. Functions of the calculator include a sizing
capability, recommendation on design parameters and complete measurements.
Results and comments may be printed, saved on-line or as a PDF.
The O-Ring calculator gives certainty of design and
substantial timesaving
Incorporating a great deal of ‘sealing expertise’, the
calculator even considers the complexities of compression, seal expansion and
groove fill, whilst enabling the user to add notes to the results. The benefits
of having this easy to use calculator are considerable, giving certainty of
design and substantial timesaving.
Well received by engineers globally since its launch in 2005, it has now been
updated inline with the needs. New features make the program even more
versatile and user-friendly.
Enhancements
in the latest update include:
- Design recommendations for a broader range of materials including
perfluoroelastomers
- Warning messages when there are input errors or deviations from
design recommendations
- Operating temperatures for elastomer groups take into account cross
section changes
- Linear thermal expansion coefficients are included as preset values
which can be overwritten
- Design recommendations are available at the click of an i-button
The
O-Ring Calculator is available free of charge for on-line use on this website
through their registration area, which gives access to other enhanced services
including:
- Powerful electronic catalog –With innovative interactive quote
facility
- Versatile CAD service - Makes drawing production easier
- In depth product detail – Industry leading catalogs on-line
Busak+Shamban becomes Trelleborg Sealing Solutions
15. March 2007
Busak+Shamban operates as the global sales and marketing arm
of Trelleborg Sealing Solutions. To consolidate their brand strategy,
Busak+Shamban is to change its name to Trelleborg Sealing Solutions, effective
from April 2, 2007.
Busak+Shamban has been part of Trelleborg Group, with whom
they share a foundation in polymer expertise, since its acquisition in October
1, 2003. With a pedigree going back over 50 years, the marketing arm continued
to operate under the existing Busak+Shamban brand, while the manufacturing
facilities adopted the Trelleborg name. Effective from April 2, 2007, to
consolidate the group’s brand strategy, Busak+Shamban will change its name to
Trelleborg Sealing Solutions.
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.40.63 |
|
|
1 |
Rs.82.42 |
|
Euro |
1 |
Rs.55.96 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|