MIRA
INFORM REPORT
|
Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
ESS ENN AUTO CNC PRIVATE LIMITED |
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Formerly Known As : |
AUTO COMBINE ENGINEERS PRIVATE LIMITED |
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Registered Office : |
43 / D, 1st R Block, Rajaji Nagar, Bangalore 560 010,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.03.1981 |
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Com. Reg. No.: |
08-4157 |
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CIN No.: [Company
Identification No.] |
U32109KA1981PTC004157 |
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IEC No.: |
0704020742 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRE04071E |
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PAN No.: [Permanent
Account No.] |
AABCE3813B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of
Precision Machined Products and Components for automotive aerospace,
electrical and electronics industry. |
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 32000 |
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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 well-established and reported company having satisfactory
track records. Directors are reported as experience and respectable
businessmen. Trade relations are reported as fair. Business is active. Payments
are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
43 / D, 1st R Block, Rajaji Nagar, Bangalore 560 010, Karnataka
, India |
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Tel. No.: |
91-80-3226272 |
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Mobile No.: |
91-9845069882 |
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Fax No.: |
91-80-41288272 |
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E-Mail : |
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Area: |
2750 Sq. fts. |
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Location: |
Rented |
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Corporate Office : |
82, 2nd Main, 2nd Block, 3rd Stage,
Behind KEB Office, Basaceshwara Nagar, Bangalore 560 079, Karnataka, India |
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Tel. No.: |
91-80-23226272 |
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Fax No.: |
91-80-41288272 |
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E-Mail: |
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Website: |
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Area: |
8000 Sq. fts. |
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Location: |
Owned |
DIRECTORS
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Name : |
Mr. Hosmane Srihari Anand |
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Designation : |
Director |
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Address : |
43 / C. 20th ‘A’ main, ‘R’ Block, Rajaji Nagar, Bangalore
560010, Karnataka, India |
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Qualification: |
B.E. |
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Date of Birth/Age : |
16.02.1976 |
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Date of Appointment : |
01.12.2004 |
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Name : |
Mrs. Hosmane Srihari Ratnamala |
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Designation : |
Director |
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Address : |
43/C. 20th ‘A’ Main, ‘R’ Block, Rajaji Nagar, Bangalore
560010, Karnataka, India |
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Date of Birth/Age : |
14.02.1949 |
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Date of Appointment : |
20.08.1985 |
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Name : |
Mr. Manohar D Naik |
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Designation : |
Director |
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Name : |
Mr. S K Pai |
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Designation : |
Director |
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Name : |
Mr. Subodh Sangar |
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Designation : |
Director |
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Name : |
Mr. C K Mohan Rao |
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Designation : |
Director |
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Name : |
Mr. Hosmane Desikachar Srihari |
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Designation : |
Director |
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Address: |
43/C, 20th ‘A’ Main, 1st R Block, Rajaji Nagar,
Bangalore – 560 010, Karnataka, India |
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Date of Birth/Age : |
24.04.1940 |
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Qualification: |
DME |
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Date of Appointment : |
25.03.1981 |
KEY EXECUTIVES
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Name : |
Ms. Vandana Lohia |
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Designation : |
Company Secretary |
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Address : |
No. 105 / 15, Saleh Ahmed Building, Infantry Road, Bangalore 560 001,
Karnataka, India |
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Tel. No.: |
91-80-25327737 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
|
Mr. Hosmane Srihari Anand |
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100 |
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Mrs. Hosmane Srihari Ratnamala |
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300 |
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Mr. H D Srihari |
|
23367 |
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Total |
|
23767 |
Equity share breakup (percentage of total equity)
|
S. No. |
Category |
Percentage |
|
1 |
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Precision
Machined Products and Components for automotive aerospace, electrical and
electronics industry. |
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Products : |
Ø Core Machine
Components Ø Precision Auto
turned Components |
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Exports: |
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Products: |
Precision
Machined Components |
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Countries: |
Canada, UK,
France |
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Terms : |
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Selling : |
Credit 30 days |
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Purchasing : |
Credit 30 days |
PRODUCTION STATUS
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Particulars |
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Actual
Production |
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Machined Components |
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2500000 |
GENERAL INFORMATION
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Suppliers : |
Ø Beereshwara Automats Ø Bhansali Bright Bars Private Limited Ø Dhanesh Sales Corporation Ø Distinct Productivity Solutions Ø G W Precision Tools (India) Private Limited Ø Hydropower Engg System Ø Magod Laser Machining Private Limited Ø Manjushree Technologies Ø Manish Metal India Ø Shiv Shakti Enterprises Ø Shankara Pipes India Private Limited |
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Customers : |
Ø AMP Rose Private Limited Ø Motor Industries Company Limited Ø Quality Engg And Software Technologies Private Limited Ø SAS Engineering Group Ø Rollon Hydraulics Private Limited Ø Trelawney Surface Preparation Technology Ø Uniglass Industries Private Limited Ø
Trelawny Surface Preparation Technology UK (Pneumatic Components) Ø
SAS Engg Canada (Automotive Components ) Ø Rollon Hydraulics (Hydraulic Parts ) |
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No. of Employees : |
60 (Office: 5; Factory: 55) |
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Bankers : |
Industrial Estate Branch, Rajajinagar, Bangalore 560 044, Karnataka, India
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K V Shenoy and Company Chartered Accountants |
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Address : |
No. 57, First Floor, 7th Cross, Sampige Road, Malleswaram,
Bangalore 560 003, Karnataka, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity shares |
Rs. 100.00 each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23767 |
Equity shares |
Rs. 100.00 each |
Rs. 2.377
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.377 |
2.377 |
2.277 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.724 |
1.581 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.101 |
3.958 |
2.277 |
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LOAN FUNDS |
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1] Secured Loans |
7.329 |
5.203 |
6.004 |
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2] Unsecured Loans |
1.876 |
2.245 |
0.964 |
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TOTAL BORROWING |
9.205 |
7.448 |
6.968 |
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DEFERRED TAX LIABILITIES |
0.188 |
0.033 |
0.000 |
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TOTAL |
17.494 |
11.439 |
9.245 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.180 |
7.408 |
6.677 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.793
|
1.547 |
0.527 |
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Sundry Debtors |
9.238
|
5.734 |
3.058 |
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Cash & Bank Balances |
2.322
|
0.577 |
0.060 |
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Other Current Assets |
0.074
|
0.000 |
0.000 |
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Loans & Advances |
5.908
|
2.544 |
1.396 |
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Total
Current Assets |
18.335
|
10.402 |
5.041 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.822
|
5.404 |
2.473 |
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Provisions |
3.199
|
0.967 |
0.000 |
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Total
Current Liabilities |
9.021
|
6.371 |
2.473 |
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Net Current Assets |
9.314
|
4.031 |
2.568 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
17.494 |
11.439 |
9.245 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
37.724 |
22.243 |
15.362 |
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Other Income |
0.583 |
0.000 |
0.000 |
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Total Income |
38.307 |
22.243 |
15.362 |
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Profit/(Loss) Before Tax |
6.532 |
2.457 |
2.724 |
|
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Provision for Taxation |
2.389 |
0.000 |
0.999 |
|
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Profit/(Loss) After Tax |
4.143 |
2.457 |
1.725 |
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Export Value |
24.217 |
NA |
NA |
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Import Value |
NA |
1.800 |
0.922 |
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Expenditures : |
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Administration and Selling Expenses |
|
2.479 |
2.255 |
|
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Interest |
31.775 |
0.671 |
0.616 |
|
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Depreciation |
|
1.376 |
1.783 |
|
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Other Expenditure |
|
15.260 |
7.984 |
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Total Expenditure |
31.775 |
19.786 |
12.638 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
10.81
|
11.05 |
11.23 |
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Net Profit Margin (PBT/Sales) |
(%) |
17.31
|
11.05 |
17.73 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
24.63
|
13.80 |
23.25 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.80
|
0.62 |
1.20 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.24
|
3.49 |
4.15 |
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Current Ratio (Current Asset/Current Liability) |
|
2.03
|
1.63 |
2.04 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Subject was formerly known as Auto Combine Engineers Private Limited and Changed to its present name i.e. “Ess Enn Auto CNC Private Limited” with effect from 13.09.2004.
Form 8
Bankers Charges
Report as per Registry
|
This Form is for |
Modification of charge |
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Charge
identification number of the charge to be modified |
80034229 |
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Corporate
identity number of the company |
U32109KA1981PTC004157 |
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Name of the
company |
ESS ENN AUTO CNC
PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
43 / D, 1st R Block, Rajaji
Nagar, Bangalore 560010, Karnataka, India |
|
Type of charge |
Ø
Book Debts Ø
Movable
Property Ø
Floating
charge |
|
Particular of
charge holder |
State Bank of India Industrial Estate Branch, Rajajinagar, Bangalore 560 044, Karnataka, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental agreement of loan cum Hypothecation SME – 4 and Link Letter – SME 12 (Both the above pertain to the same charge) |
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Date of
instrument Creating the charge |
26.06.2007 |
|
Amount secured by
the charge |
Rs. 30.900
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
a) Rate of Interest: Rate: WCL – at 1% above SBAR 12.75% with a minimum of 13.75% p.a. rising or falling therewith, on daily precuts with monthly rests. Pre. Eff. Rate 13.75% p. a. TL (III) – at 1.50% above SBAR 12.75% with a minimum of 14.25% p. a. rising or falling therewith on daily products with monthly rests. Pre. Eff. Rate 14.25% p. a. penal int. for non compliance of terms of sanction max 2% p. a. over the normal rate. Wherever expedient, intt. Rate is directly linked to CRA of the Borrower b) Terms of Repayment: Working capital facility repayable on demand Term Loan (III): in 78 Installments 1) 72 Installments of Rs. 0.100 million each 2) 6 Installments of Rs. 0.200 million each Start from October, 2007 c) Margin: Raw Materials – semi finished goods / finished goods – 25% Receivables – 25% Term Loan – 30% LC/BG – 25% d) Extent and operation of the charge: Exclusive first charge on the assets of the company and to the full extent e) Others: Cash credit – hypothecation of stocks and receivables) Rs. 8.500 millions Term Loan (I) – Rs. 0.700 million (sanctioned limit Rs. 2.000 millions] Term Loan (II) – Rs. 1.100 millions (sanctioned limit Rs. 6.000 millions) Term Loan (III) – Rs. 8.400 Millions Letter of Credit – Rs. 11.200 millions Bank Guarantee - Rs. 1.000 million total Limit – Rs. 30.900 millions |
|
Short particulars
of the property charged |
Hypothecation of present and future all of the borrower’s stocks of raw materials, semi finished and finished goods, book debts, bills , claims, receivables, outstanding, plant and machineries, other movable assets etc. wherever situated, held or stored or in transit or in the custody of any third party. |
|
Date of latest
modification prior to the present modification |
NA |
|
Particulars of
the present modification |
The amount
secured by the charge stands increased from Rs. 14.500 Millions to Rs. 30.900
Millions security of current assets, movable fixed assets, other movables
already obtained and detailed hereinabove continues to be available for the
enhanced limit also. All other terms
and conditions remain unchanged. |
|
Corporation identity number or foreign company registrations number of the company |
4157 |
|
Name of the company |
ESS ENN AUTO (CNC) PRIVATE LIMITED |
|
Address |
82, 2nd Main, 2nd Block, 3rd Stage,
Basaveshwara Nagar, Bangalore 560079, Karnataka, India |
|
This Form is for |
Creation of charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
State Bank of India Industrial Estate Branch, Rajajinagar, Bangalore 560 044, Karnataka, India |
|
Nature or description of the instrument creating charge |
Agreement of loan cum Hypothecation SME – 2 |
|
Date of the instrument creating charge |
16.02.2006 |
|
Amount Secure by the charge |
Rs. 14.500 Millions [CC – stocks- Rs. 3.000 Millions, CC Rec – Rs. 2.000 Millions, EPC Rs. 2.000 Millions sub limit of CC Stocks] TL 1 Rs. 2.000 Millions, T.L 2 Rs. 6.000 Millions and BG Rs. 1.500 Millions] |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Rate of interest for CC 11.25% p.a. with periodical Rests and or at such rate/s and rests as may be specified by the bank from time to time. T.L. – at the rate of 1.50% above SBAR [10.25%] effective rate 11.75% p.a. with monthly periodical rests or at such rates and rests as may be specified by the bank from time to time. Margin : as specified by the bank from time to time. Repayment : T.L. – 60 monthly installments [ 3 installments of Rs. 0.030 Million, 3 installments of Rs. 0.060 Million each, 6 installments of Rs. 0.100 Million each, 47 installments of Rs.0.107 Million each and final installment of Rs. 0.101 Million each] and for WCF on demand. |
|
Description of the property charged |
Ø Stock in trade Ø Book debts Ø Plant and machinery Ø Others |
|
Particulars of the Property charged |
Hypothecation on all present and future stocks, raw materials, goods, book debts, vehicles and other movable assets of the borrower including the receivables, documents, insurance policies, guarantee, investments and rights and the present and future machinery belonging to or in the possession or control of the borrower or of the bank or of any third party whether in India or elsewhere including all such goods, vehicles, other movables assets as may be in the course of shipment, transit or delivery and all the machinery, vehicles and other equipment items of what ever nature acquired by the borrower shall hypothecated to the bank by way of First Charge. |
|
Corporation identity number or foreign company registrations number of the company |
U32109KA1981PTC004157 |
|
Name of the company |
ESS ENN AUTO (CNC) PRIVATE LIMITED |
|
Address |
43 / D, 1st R Block, Rajaji
Nagar, Bangalore 560 010, Karnataka, India |
|
This Form is for |
Modification of charge |
|
Type of Charges |
Book debts, Movable property (not being pledge), Floating Charges |
|
Particular of the charge holder |
State Bank of India Industrial Estate Branch, Rajajinagar, Bangalore 560 044, Karnataka, India |
|
Nature or description of the instrument creating charge |
Supplemental agreement of loan cum Hypothecation SME – 4 and Link Letter – SME 12 (Both the above pertain to the same charge) |
|
Date of the instrument creating charge |
26.06.2007 |
|
Amount Secure by the charge |
Rs. 30.900 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
f) Rate of Interest: Rate: WCL – at 1% above SBAR 12.75% with a minimum of 13.75% p.a. rising or falling therewith, on daily precuts with monthly rests. Pre. Eff. Rate 13.75% p. a. TL (III) – at 1.50% above SBAR 12.75% with a minimum of 14.25% p. a. rising or falling therewith on daily products with monthly rests. Pre. Eff. Rate 14.25% p. a. penal int. for non compliance of terms of sanction max 2% p. a. over the normal rate. Wherever expedient, intt. Rate is directly linked to CRA of the Borrower g) Terms of Repayment: Working capital facility repayable on demand Term Loan (III): in 78 Installments 3) 72 Installments of Rs. 0.100 million each 4) 6 Installments of Rs. 0.200 million each Start from October, 2007 h) Margin: Raw Materials – semi finished goods / finished goods – 25% Term Loan – 30% LC/BG – 25% i) Extent and operation of the charge: Exclusive first charge on the assets of the company and to the full extent j) Others: Cash credit – hypothecation of stocks and receivables) Rs. 8.500 millions Term Loan (I) – Rs. 0.700 million (sanctioned limit Rs. 2.000 millions Term Loan (II) – Rs. 1.100 millions (sanctioned limit Rs. 6.000 millions) Term Loan (III) – Rs. 8.400 Millions Letter of Credit – Rs. 11.200 millions Bank Guarantee - Rs. 1.000 million total Limit – Rs. 30.900 millions |
|
Particulars of the Property charged |
Hypothecation of present and future all of the borrower’s stocks of raw materials, semi finished and finished goods, book debts, bills , claims, receivables, outstanding, plant and machineries, other movable assets etc. wherever situated, held or stored or in transit or in the custody of any third party. |
AS PER WEBSITE
DETAILS:
Subject was established in the year 1975. They are the unmatched manufacturer and exporter of Core Machine Components and Precision Auto turned Components. They aspire for total customer satisfaction by serving their prestigious client with optimum quality products at most reasonable prices. With the voluminous experience of the industry, they have accustomed the needs, trends and wants of their clients. All their quality products are sourced from the finest raw materials ensuring flawless manufacturing of the products. They strive to establish a mutually beneficial and long lasting relationship with their clients by fulfilling the requirements within the requested time. They believe in continuous innovation and constantly invest in the technological up-gradation to meet the demands of ever changing global market
Products
They constantly enhance and improve upon their product range
to serve their esteemed clients with the best products. They offer range of
superior quality Core Machine
Components and Precision Auto turned Components at most reasonable
rates. Their products find there application in Automobile, Earth moving parts, Aircraft components, Components for
atomic energy establishments, Hydraulic components, Components for Pneumatic
tools and Tools for communication and electronic industry.
Quality
They never compromise on the quality and this has helped
them to win the trust, confidence, support of their worldwide client base. They
follow stringent quality measures to ensure flawless production of world class
products. Their team of highly qualified quality analyst checks each and every
stage of manufacturing, starting from procurement of raw material to the
dispatch of finished product to the market. All their quality procedures are in
accordance with the national and international quality standards. Quality
products, reasonable price and prompt delivery have further established them as
the unmatched manufacturer and exporter of Core Machine Components and Precision Auto turned Components.
Infrastructure
They are empowered with sound infrastructure coupled with innovative and cutting edge technologies. Their state of the art manufacturing unit is complacent with hi-tech and most modern machineries which remain under the observation of the technocrats. Their range of machineries includes:
Ø
Two MAZAK
Turning Centers
Ø
One DAEWOO
Turning Centers
Ø
Two LMW Turning
Centers
Ø
Fourteen Single
spindle Automate
Ø
Supporting
machinery
They are headed by technocrats, business oriented professionals and quality conscious management who work with utmost dedication ensuring that only the superlative quality product reaches the customers.
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. 39.96 |
|
UK Pound |
1 |
Rs. 78.66 |
|
Euro |
1 |
Rs. 63.31 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|