MIRA
INFORM REPORT
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Report Date : |
26.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
TETRAGON CHEMIE PRIVATE LIMITED |
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Registered Office : |
IS-40, 19th B Industrial Area, Yelahanka New Town,
Bangalore – 560064, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
11.03.1983 |
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Com. Reg. No.: |
08-5213 |
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CIN No.: [Company
Identification No.] |
U24111KA1983PTC005213 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRT03147E |
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PAN No.: [Permanent
Account No.] |
AAACT4909N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Importers and Traders of Veterinary Drugs, Bulk
Chemicals for Veterinary Industry, Animal Health, Vet Care
Products/Medicaments, Preparations, Formulations, Vaccines, Plant Foods,
Animal Supplementary Foods, Pesticides, Germicides and Fungi's etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 1700000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company having
satisfactory track. 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/Head Office : |
IS-40, 19th B Industrial Area, Yelahanka New Town,
Bangalore – 560064, Karnataka, India |
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Tel. No.: |
91-80-28462055 / 56 / 28461241 / 42 / 28460060 |
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Fax No.: |
91-80-28461240 |
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E-Mail : |
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Website : |
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Factory: |
v C-7/22, KSSIDC
(I. A) Yelahanka New Town, Bangalore – 560 064, Karnataka v No. 4/8E-3,
KSSIDC Industrial Estate, Dodaballapur, Bangalore - 561 203, Karnataka v
IS-40, KHB Industrial Area, Yelahanka New Town, Bangalore – 560064,
Karnataka |
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Branches : |
Located at :- Ø #6-1-119/15, Padmarao Nagar, Walker Town, Secunderabad
- 500 025 Andhra Pradesh Tel No:- 91-40-27502386/27501785 Fax No :- 91-40-27502386 E-mail :- tclhyd@sify.com Ø C/o Nutan Ware
House Company Private Limited Survey No.
157/5+8, Pune-Saswad Road Village, Fursungi, Pune-412308, Maharashtra Tel No :- 91-20-26989349 Fax No :- 91-20-26989579 E-mail :- tclpune@pn3.vsnl.net.in Ø B-43, Phase-Ii,
Noida – 201 305, Uttar Pradesh, India Tel No :- 91-120-24567886
/ 245672514 Fax No :- 91-120-24567887 E-mail :- tcldel@rediffmail.com/tclnoida@mantraonline.com
Ø No. 19, Kandar
Hostel Road, Gandhi Nagar, Namakkal – 637 002, Tamilnadu, India Tel No :- 91-4286-230828 Fax No :- 91-4286-233928 E-mail :- slm@tclnkl@sancharnet.in Ø No. 6/2, Reepal
Compound, N.H. No. 8, Ranoli, Vadodara - 391350, Baroda, Gujarat, India Tel No :- 91-265-2241218 E-mail :- tclvad@satyam.net.in Ø No. 91, Golf
Club Road, Tolly Gunj, Kolkata-700033, West Bengal, India Tel No :- 91-33-24222614
/ 24222674 Fax No :- 91-33-24222674 E-mail:- vetcare@cal3.vsnl.net.in |
DIRECTORS
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Name : |
Mr. Bharat Tandon |
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Designation : |
Managing Director |
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Address : |
No. 2122, ‘D’ Block, Sahakaranagar, Kodigchalli, Bangalore – 560092 |
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Date of Birth/Age : |
02.11.1953 |
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Qualification : |
B. Sc. (Hons.), M.B.A. |
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Experience : |
29 years |
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Date of Appointment : |
11.03.1983 |
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Previous
Employment |
Astra-Idl Limited – Project Manager |
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Name : |
Mr. C. Gopalaswamy |
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Designation : |
Joint Managing Director |
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Address : |
No. 17, Sumeru AECS Layout. Ashwath Nagar Post, Gedalahalli, Bangalore
– 560094 |
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Date of Birth/Age : |
24.07.1947 |
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Qualification : |
B. Sc. |
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Experience : |
35 years |
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Date of Appointment : |
11.03.1983 |
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Previous
Employment |
Medivenk Private Limited -
Manager |
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Name : |
Mr. Hashmukh Tailor |
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Designation : |
Director |
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Address : |
Eastern Avenue Lichfield, Staffordshire England, WS13 75E |
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Date of Birth/Age : |
01.12.1950 |
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Date of Appointment : |
21.12.1999 |
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Name : |
Mr. Roelof Raternik |
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Designation : |
Director |
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Address : |
Binnenmassoever, 22, 3299, L V Maasdam, Netherlands |
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Date of Birth/Age : |
20.05.1950 |
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Date of Appointment : |
13.03.2003 |
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Name : |
Dr. Frank Cedric Heap |
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Designation : |
Director |
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Address : |
Eastern Avenue Lichfield, Stafordshire, England WS 1375 E |
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Date of Birth/Age : |
26.08.1939 |
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Date of Appointment : |
21.12.1999 |
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Date of Ceasing: |
14.02.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on
31.03.2007):- |
No. of Shares |
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M/s. Ashchem Agrotech Private Limited |
73210 |
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Provimi Holding B. V. |
351450 |
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Mr. C Gopalaswmy |
35185 |
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Mr. Naveen Kumar G |
10900 |
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Mrs Vijaya Gopalaswamy |
24255 |
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Total |
495000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Importers and Traders of Veterinary Drugs, Bulk
Chemicals for Veterinary Industry, Animal Health, Vet Care Products/Medicaments,
Preparations, Formulations, Vaccines, Plant Foods, Animal Supplementary
Foods, Pesticides, Germicides and Fungi's etc. |
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Products : |
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Exports : |
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Countries : |
Europe, South America, South East Asia, Sri Lanka,
Malaysia, Bangladesh, Africa, Thailand and Singapore |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China, Germany, USA, Japan and Singapore |
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Terms : |
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Selling : |
L/C, Cash + Credit (upto 30 days) terms |
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Purchasing : |
L/C or Credit (90 days) terms |
GENERAL
INFORMATION
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Suppliers : |
v Ajino Moto,
Japan v Novus, Singapore v Mitsubishi
Corporation, Japan v Sinochem Jiangsu
Import & Exports Corporation, China v Shanghai
Medicines & Health Products, China v Degusa, Germany v Amrith Synthetic
Products v Ashchem Agrotech v Universal
Packaging |
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Customers : |
v Hindustan Lever
Limited, India v Godrej Agro Vet,
India v SKM Animal
Feeds, India v Pioneer Animal
Feeds, India v Sri Venkateswara
Hatchery, India v Western
Hatchery, India v Dithelm,
Thailand v Jafpa Oberoi,
Pune, Maharashtra, India |
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No. of Employees : |
300 |
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Bankers : |
State Bank of Mysore, 13th Main, Raj Mahal Vials Extension,
Bangalore - 560 080, Karnataka, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deloitte Haskins & Sells Chartered Accountants |
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Address : |
Bangalore, Karnataka |
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Holding Company : |
Provimi Holding BV |
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Associates/Subsidiaries : |
v Vetcare Organics
Private Limited v Aschem Agrotech
Private Limited v Healthline
Private Limited v Bonimex Bondas Importers & Exporters B.V. v Vetcare Alltech
Private Limited v Provimi Limited
UK v Nutron Alimentos
Limited, Brazil v Provimi B V
Netherlands v Nu Tecsa, France v Nutiway –
Vietnam v Centralys –
France |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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320000 |
Equity Shares |
Rs.100/- each |
Rs.32.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
32.000 |
32.000 |
32.000 |
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2] Share Application Money |
17.500 |
0.000 |
0.000 |
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3] Reserves & Surplus |
376.354 |
238.403 |
192.900 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
425.854 |
270.403 |
224.900 |
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LOAN FUNDS |
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1] Secured Loans |
32.268 |
45.000 |
5.236 |
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2] Unsecured Loans |
0.000 |
20.000 |
0.000 |
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TOTAL BORROWING |
32.268 |
65.000 |
5.236 |
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DEFERRED TAX LIABILITIES |
25.400 |
16.813 |
13.744 |
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TOTAL |
483.522 |
352.216 |
243.880 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
203.847 |
160.837 |
81.554 |
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Capital work-in-progress |
0.403 |
1.707 |
0.000 |
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INVESTMENT |
0.009 |
0.009 |
0.008 |
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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 |
114.275
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123.554 |
112.827 |
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Sundry Debtors |
220.027
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166.840 |
111.579 |
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Cash & Bank Balances |
181.977
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33.105 |
52.998 |
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Other Current Assets |
0.405
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0.010 |
0.009 |
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Loans & Advances |
134.163
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83.777 |
55.658 |
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Total
Current Assets |
650.847
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407.286 |
333.071 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
144.483
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123.181 |
105.889 |
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Provisions |
227.101
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94.442 |
64.864 |
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Total
Current Liabilities |
371.584
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217.623 |
170.753 |
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Net Current Assets |
279.263
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189.663 |
162.318 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
483.522 |
352.216 |
243.880 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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Sales Turnover |
1477.203 |
1209.333 |
1053.000 |
774.000 |
625.358 |
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Other Income |
13.150 |
14.871 |
0.000 |
0.000 |
0.000 |
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Total Income |
1490.353 |
1224.204 |
1053.000 |
774.000 |
625.358 |
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Profit/(Loss) Before Tax |
233.245 |
152.922 |
144.000 |
89.000 |
80.131 |
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Provision for Taxation |
54.592 |
0.000 |
36.000 |
33.000 |
29.282 |
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Profit/(Loss) After Tax |
178.653 |
152.922 |
108.000 |
56.000 |
50.849 |
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Earnings in Foreign Currency : |
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Export Earnings |
380.500 |
286.970 |
NA |
NA |
1.177 |
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Total Earnings |
380.500 |
286.970 |
197.000 |
NA |
1.177 |
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Imports : |
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Raw Materials |
479.295 |
424.926 |
288.000 |
288.000 |
247.739 |
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Total Imports |
479.295 |
424.926 |
376.000 |
288.000 |
247.739 |
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Expenditures : |
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Financial Charges |
1.377 |
3.014 |
NA |
NA |
545.227 |
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Other Expenditure |
1215.095 |
NA |
NA |
NA |
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Total Expenditure |
1216.472 |
NA |
NA |
NA |
545.227 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total
Income |
(%) |
10.25
|
7.23 |
8.13 |
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Net Profit Margin (PBT/Sales) |
(%) |
13.67
|
11.49 |
12.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.84
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15.66 |
19.32 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.33
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0.32 |
0.35 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.94
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1.04 |
0.78 |
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Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.87 |
1.95 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
The company was incorporated on 11th March, 1983 at
Bangalore, in Karnataka having Company Registration Number 5213.
The company was incorporated as a private limited company and became
deemed public limited company under section 43A(1), with effect from 1st
July 1994.
Again, it was converted into a private limited liability company with
effect from 21st February, 2001.
The company has entered into joint venture with Provimi Holdings BV,
Holland with an equity participation of 51% and Indian equity of 49% held by
Ashchem Agrotech Limited.
J. T. Electronics Limited, a subsidiary was merged with the company
w.e.f. 1st April, 1999 and the merger was approved by the Karnataka
High Court vide its order dated 31st March, 2000.
It represents the following :
v
BASF, Germany
v
Alltech Inc., USA
v
Meiji Seika Pharma International Limited, Japan
The company's
fixed assets of important value include
· Land (Free Hold Land),
· Building,
· Plant and Machinery,
· Research and Development Equipments,
· Electrical Installations,
· Furniture and Fixtures,
· Typewriters,
· Office Equipments,
· Computer Equipments,
· Generators and Vehicles.
FORM 8:-
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Corporate
identity number (CIN) Foreign company registration number |
U24111KA1983PTC005213 |
|
Name of the
Company |
TETRAGON CHEMIE PRIVATE LIMITED |
|
Address |
IS-40, K H B Industrial Area, Yelahanka New Town, Bangalore – 560064,
Karnataka |
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This form is for |
Modification
Charge |
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Type of Charge |
Hypothecation |
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Particulars of
the charge holder |
State Bank of
Mysore, Rajmahal Vilas Extension Branch, No. 138/6, 10th Main, 6th
‘A’ Cross, Rajmahal Vilas Extension, Bangalore – 560080 |
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Nature of the
instrument |
Agreement for
hypothecation, hypothecation of goods, machinery, beek – debts and other
assets Hypothecation of
letter of credit |
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Date of the
instrument creating charge |
03.06.1983 |
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Amount secured by
the charge |
Rs. 0.310
Millions |
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Brief of the
principal terms and conditions |
Interest and
margin as applicable from time to time repayable on demand |
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Description of
the property charged indicating |
Stock in Trade
and Book Debts |
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Charge identification
|
Original charge
dated 03.06.1983 registered on 02.09.1983 06 for Rs. 0.310 Millions |
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Brif description
of the instrument modifying the charge under section |
Agreement of
hypothecation of goods and assets Letter of
extension of equitable mortgage Omni Bus Counter
Guarantee |
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Date of
Instrument |
04.03.2006 |
As per website
details
Innovation, Customer Satisfaction and Technology Transfer In the
farming community
VETCARE is one of the divisions of Tetragon Chemie Private. Limited is an ISO 9001:2000 and GMP (WHO) certified company and 100% EOU driven by a vision to continually generate bold new ideas and concepts, and products in the field of Animal Agriculture in the Indian subcontinent since 1983. VETCARE markets quality products not only in India, but also to more than 30 countries.
VETCARE has got wide range of therapeutic and nutritional products for large and small animals catering domestic and overseas market. It operates under four divisions to meet the diverse needs of the veterinary and animal farming community. These are:
v VETCARE,
in poultry and dairy segments
v PETCARE,
in the pet segments
v AQUACARE,
for aquaculture
v INSTITUTIONAL BUSINESS GROUP (IBG), trading in amino acids, feed ingredients and specialized premixes.
VETCARE's remarkable growth and progress over the years in both domestic and overseas markets is easily attributed to a single factor - undiluted focus on evolving customer needs. This explains the role of the company's R and D at the core of the planning process and its strong reliance on quality. VETCARE's RandD facilities are recognized by Dept. of Science and Technology, Govt of India.
VETCARE operates from its Corporate Office situated at Bangalore and all its production facilities based at Bangalore and Noida. In addition, the company has Seven Regional Offices and depots located at key agribusiness centers to cater to the diversified needs of customers spread across the length and breadth of the country.
VETCARE entered into the joint venture with PROVIMI, Netherlands in 1999. Provimi has been a European market leader with an annual turnover of Euro 1.6 billion with 100 plants in 30 countries and it employs over 9000 people among which over 600 are scientists.
In keeping with their mission of being Innovators in Veterinary Care and catering to the animal agriculture segment, they acquired AGVET (division of UNICHEM laboratories) to widen its presence in the dairy sector in the year 2003.
Poultrycare
It’s remarkable growth and progress over the years in both domestic and overseas markets are easily attributed to a single factor - undiluted focus on evolving customer needs. This explains the role of the company's R and D at the core of the planning process and its strong reliance on quality. Subject operates from its corporate office at Bangalore and all its production facilities are based at Bangalore and Noida. In addition, the company has seven regional offices and depots located at key agribusiness centers to cater to the diversified needs of customers spread across the length and breadth of the country.
Poultry division is the key business area of VETCARE and contributes maximum to the Company's turnover. The poultry segment which has been consistently witnessing high growth and VETCARE, has always been at the forefront, introducing a range of new concepts and products.
VETCARE known as "Innovators in Veterinary Care", is focused on providing comprehensive, value-added solutions to customers. The division deals with the nutritional and therapeutic range required for poultry farming activity. VETCARE's initiative in the field of bio-technological tools in feed industry coupled with interactive programmes and strong technical back-up have gone a long way in solving the most difficult problems faced by the farmers in the field.
Some of the innovative concepts introduced by VETCARE include toxin prevention programme, chelated minerals, immune potentiation and heat stress prevention programmes. Some of the well-known brands of VETCARE in the market include 3-Care Forte, Neodox Forte, Colidox, E-Care Se Herbal, E-Care Se, G PROmin, UTPP-5, UTPP Biotech.
Nutrition
Nutrition forms the hub of efficient poultry farming, be it a broiler, layer or breeder operation. The industry is facing newer challenges on economic viability and higher productivity in terms of weight gain, FCR, egg production, hatchability etc. Today's bird requires less feed per unit production. Hence, the efficiency of poultry operation largely depends on nutrient supply and effectiveness of their utilization. The company, at VETCARE have set this vision since its inception and has been committed towards Research and Development in bringing out biotechnological and nutritional solutions in the area of animal agriculture. This concept gained further momentum after the company joined hands with one of the global leaders in animal nutrition Provimi.
Provimi has been a European market leader with an annual turnover of 1.25 billion US$. With 95 plants in 28 countries, the core business of the PROVIMI group is Nutrition with strong product lines like premixes, micro components of feed, complete feed and standard feed for commercial animals.
VETCARE, after entering into a joint venture with PROVIMI Holding, has the advantage of sourcing their widest database network where common ideologies are shared. VETCARE, having leverage on the group knowledge of PROVIMI network, would like to efficiently translate the same as a Nutritional / Biotechnological solution for the Indian animal industry.
Foreseeing the growth of the animal production, with the technical know-how and the biggest infrastructure base, VETCARE-PROVIMI NUTRITION DIVISION has taken birth within VETCARE. This would promise effective solutions for the important aspects in animal nutrition in India like:
v Early Chick Nutrition
v Comprehensive solutions through tailormade premixes
v Probiotics and other biotech applications.
v Technical services in feed optimization etc.
Export
The Export activity started with one product, catering to the needs of South East Asian Markets. It now offers a gamut of more than 30 products and has expanded its operations to Europe, South America, South East Asia and Africa.
Needless to say that their Exports division has come a long way and now making major contribution to Group's total turnover. Its remarkable growth and progress over the years can be attributed to single factor - undiluted focus on evolving customer needs.
Vetcare's Exports division is one of the major drug-manufacturing units in India producing Halquinol, Oxine Copper and latest Acaricide - Amitraz, of which their exports are substantial. This explains the role of the company's RandD at the core of the planning process and its strong reliance on quality.
A strong and reliable distribution network, and relentless commitment to quality and technical service has helped the export division to spread its wings across the globe. Quality pervades, commitment remains and focus undeterred, that is the motto of Exports division.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.97 |
|
UK Pound |
1 |
Rs.79.53 |
|
Euro |
1 |
Rs.63.09 |
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 |
9 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
60 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|