MIRA
INFORM REPORT
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Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
MACHINE TOOLS INDIA LIMITED |
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Registered Office : |
56-A Mirza Ghalib Street, Kolkata – 700 016, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.08.1928 |
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Com. Reg. No.: |
006041 |
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CIN No.: [Company
Identification No.] |
U29199WB1928PLC006041 |
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Legal Form : |
Closely held Public Limited Liability Company. |
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Line of Business : |
The company acts as an Agent, Importer and Trader of Specialised Machine Tools & Instruments. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 290000 |
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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 company having fine track. Available information indicates high financial responsibility of the company. Trade relations are fair. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
56-A Mirza Ghalib Street, Kolkata – 700 016, West Bengal, India. |
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Tel. No.: |
91-33-22296405, 22292463 |
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Fax No.: |
91-33-22494943 |
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E-Mail : |
Atul.bagaria@icicibank.com arg@rpgs.in |
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Website : |
http://www.mactool.com
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Head Office : |
B – 128, Mayapuri Industrial Area, Phase –I, New Delhi, 110064, India. |
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Tel. No.: |
91-11-28110111, 28111122 |
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Fax No.: |
91-11-28112233 |
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E-Mail : |
sales@mactool.com |
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Metrology Centre
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Located at Bangalore |
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Service Centre : |
Located at New Delhi, Pune and Bangalore |
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Branch Office : |
Imperial Chambers, S. S. Tolani Marg, Ballard Estate, Mumbai – 400
001, Maharashtra, India. |
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Tel. No.: |
91-22-22612261, 22613031 |
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Fax No.: |
91-22-22614729, 22695379 |
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E-Mail : |
Sales.bom@mactool.com |
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Branch Office: |
101 – 102, Suyash Commercial Mall, Near Pan Card Clul
Baner, Pune – 411 045, Maharashtra, India. |
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Tel. No.: |
91-20-65311763 - 66 |
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Fax No.: |
91-20-66201008 |
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E-Mail : |
Sales.pune@mactool.com |
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Branch Office : |
10-2-144 and 150, (47 – B), Road No. 2, West Marredpally,
Secunderabad – 500 026, India. |
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Tel. No.: |
91-40-27804304/5/7 |
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Fax No.: |
91-40-27804346 |
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E-Mail : |
Sales.hyd@mactool.com
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Branch Office : |
1 J, Ulsoor Road, Bangalore – 560 042 |
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Tel. No.: |
91-80-25599256, 25593651 |
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Fax No.: |
91-80-25599514 |
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E-Mail : |
Sales.bng@mactool.com |
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Branch Office: |
1st Floor, Sr. MIG – 11/E-3, Arera Colony, Bhopal – 462
016, India |
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Tel. No.: |
91-755-2460616/17 |
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Fax No.: |
91-755-4275777 |
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E-Mail : |
Sales.bhp@mactool.com |
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Branch Office : |
Ramchandra Mansion, 240, Mount Road, Chennai – 600 006 |
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Tel. No.: |
91-44-24344779 |
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Fax No.: |
91-44-24340458 |
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E-Mail : |
Sales.maa@mactool.com |
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Branches : |
2, Amidhara Apartments, Plot No. 185, Vrindavan Society,
Ellora Park, Opp. Aishwarya Complex, Vadodara – 390 007, Gujarat, India. |
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Tel. No.: |
91-265-2398348, 2397587 |
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Fax No.: |
91-265-237587 |
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E-Mail : |
Sales.vad@mactool.com |
DIRECTORS
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Name : |
Mr. Ashok R. Gupta |
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Designation : |
Director |
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Address : |
8, Kanta, 5 Little Gibbs Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India. |
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Date of Birth/Age : |
16/02/1952 |
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Date of Appointment : |
22.08.2006 |
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Other Directorship: |
R. P. Gupta Transport Private Limited U63090MH1998PTC114597 Santosh Builders Private Limited U99999MH1988PTC047646 Success Home (India) Limited L70100MH1992PLC068232 |
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Name : |
Mr. Dara P. Antia |
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Designation : |
Chairman |
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Name : |
Mr. Yezi Homi Tata |
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Designation : |
Managing Director |
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E-mail : |
yht@mactool.com |
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Name : |
Mr. Ganesh Narayan Joshi |
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Designation : |
Director |
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Name : |
Mr. Sham Tehmurasp Daruwala |
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Designation : |
Director |
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Name : |
Mr. K. J. Gandhi |
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Designation : |
Director |
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E-mail : |
mtiladmn@del6.vsnl.net.in |
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Name : |
Mr. T. Kuppuswan |
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Designation : |
Director |
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E-mail : |
tk@mactool.com |
KEY EXECUTIVES
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Name : |
Mr. K. J. Gandhi |
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Designation : |
Secretary and Financial Controller |
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Name : |
Mr. T. Kuppuswan |
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Designation : |
Chief Operating |
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Name : |
Mr. B. K. Mathur |
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Designation : |
Vice President |
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E-mail : |
bkm@mactool.com |
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Name : |
Mr. Pritam Singh |
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Designation : |
General Manger |
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E-mail : |
ps@mactool.com |
Equity Share breakup (Percentage of Total Equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors |
99.79 |
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2. |
Other top fifty (50) shareholders (other
than listed above) |
0.21 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
The company acts as an Agent, Importer and Trader of Specialised Machine Tools & Instruments. |
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Products : |
v
Crankshaft and Camshaft Milling Machines - Germany v
CNC
Crankshaft
and Camshaft Grinding Machines - U.K. v
CNC Laser And Water Jet Cutting Machine - Switzerland and Germany v
CNC
Vertical and Horizontal Machining Centres - v
Horizontal
Machining Centres - Germany and Japan. v
Five
Axes CNC Machining Centre - Japan. v
Surface
and Roundness Measuring Equipment - UK. v
In
Process and Post Process Gauging Systems and Wheel Balancers for Grinding
Machines - Italy. v
CNC
Co-Ordinate Measuring Machines - UK and Portable Co-Ordinate Meauring
Machines - USA. v
Camshaft
and Crankshaft Inspection Equipment - USA. v
Precision
CNC Turning Machines for Hard Turning. v
CNC
Plasma Cutting Machines - Australia Tig, Mig and Sub Arc Welding Machines and
Consumables - USA, Australia, Europe And China. v
CNC
Horizontal Milling Machines 3 Axes And 5 Axes Option For Production As Well
As Tool Room Application - Spain. v
CNC
Vertical & Horizontal Lathes and Turning Centres - USA. v
CNC
Vertical Lathes Including Machines for High Production with Auto Loader -
Germany. v
Single
Column and Double Column Boring Machines From Italy And Japan. v
CNC
Tool & Cutter Grinders, Profile Form Grinders -Germany and Japan. v
Roll
Marking and CNC Engraving Machines - UK and France. v
CNC
Turret Punch Presses - Japan. v
CNC Turning
Machines With Gantry Loaders - Japan. v
Broaching
Machines and Broaching Cutters from USA. v
Turbine
Blades Milling Machines Single and Multi Spindle - Switzerland. v
Spline
Rolling, Thread Rolling Machines - Germany and USA. v
Jig
Boring And Jig Grinding Machines - Japan. v
Electro Chemical
Machines, Special Purpose Machines For Drilling Of Spray Holes In Nozzles.
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GENERAL
INFORMATION
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Customers : |
v Maruti Udyog
Limited, Gurgaon v NRB Bearings
Ltd., Jalna / Mumbai v NEI, Jaipur v Lakshmi Machine
Work, Coimbatore v Ashok Leyland,
Chennai v Tata Motors
Ltd., Pune/ Jamshedpur/ Lucknow v Hindustan
Aeronautics Ltd., Bangalore/ Nasik/ Koraput/ Lucknow. v VSSC,
Thiruvananthapuram v Mahindra &
Mahindra Ltd., Mumbai v Micromatic
Grinding Technologies, Ghaziabad v Larsen &
Toubro Ltd., Mumbai v Tata Steel Ltd.,
Jamshedpur v Parishud Machine
Ltd., Ghaziabad v Bharat Forge
Ltd., Pune v TVS Group Of
Industries, Chennai |
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No. of Employees : |
130 Employees |
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Bankers : |
v American Express Bank Limited, 21 Old Court House Street, Calcutta – 700 001, West Bengal, India v American Express Bank, Hamilton Road, Block-A, Connaught Circus, New Delhi – 110 001, India v An American Express Bank Limited, 21 Old Court House Street, Calcutta – 700 001, West Bengal, INDIA v American Express Bank, Hamilton Road, Block-A, Connaught Circus, New Delhi – 110 001, INDIA v ANZ Grindlays Bank plc., 41 Jawaharlal Nehru Road, Calcutta – 700 071, West Bengal, INDIA v Canara Bank, South Extension, Part – I, New Delhi – 110 049, INDIA v Grindlays Bank Plc., 41 Jawaharlal Nehru Road, Calcutta – 700 071, West Bengal, India v Canara Bank, South Extension, Part – I, New Delhi – 110 049, India v ICICI Bank Limited, Land Mark, Race Course Circle, Alkapuri, Baroda – 390015, Gujarat, India. |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Mr. Prem Prakash, Chartered Accountants |
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Address : |
Raghu Nath Rai and Company, 9,Mathura Road, Jangpura – B, New
Delhi,110014, India. |
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Associates: |
R. P. Gupta Transport Private Limited U63090MH1998PTC114597 Santosh Builders Private Limited U99999MH1988PTC047646 Success Home (India) Limited L70100MH1992PLC068232 |
CAPITAL STRUCTURE
Authorised Capital:
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs.10/- Each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital:
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No. of Shares |
Type |
Value |
Amount |
|
51,735 |
Equity Shares |
Rs.10/- Each |
Rs. 0.517
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.517 |
0.517 |
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2] Share Application Money |
0.000 |
0.000 |
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3] Reserves & Surplus |
72.959 |
64.635 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
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NETWORTH |
73.476 |
65.152 |
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LOAN FUNDS |
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1] Secured Loans |
25.858 |
28.376 |
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2] Unsecured Loans |
0.239 |
0.000 |
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TOTAL BORROWING |
26.097 |
28.376 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
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TOTAL |
99.573 |
93.528 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
34.585 |
21.760 |
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Capital work-in-progress |
0.000 |
0.000 |
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INVESTMENT |
0.008 |
0.008 |
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DEFERREX TAX ASSETS |
0.000 |
0.610 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
50.053
|
45.241 |
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Sundry Debtors |
80.894
|
65.781 |
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Cash & Bank Balances |
16.118
|
6.796 |
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Other Current Assets |
0.000
|
0.000 |
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Loans & Advances |
41.643
|
16.682 |
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Total
Current Assets |
188.708
|
134.500 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
89.587
|
41.170 |
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Provisions |
34.141
|
22.180 |
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Total
Current Liabilities |
123.728
|
63.350 |
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Net Current Assets |
64.980
|
71.150 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
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TOTAL |
99.573 |
93.528 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
329.804 |
238.440 |
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Other Income |
2.174 |
9.715 |
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Total Income |
331.978 |
248.155 |
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Profit/(Loss) Before Tax |
30.572 |
26.869 |
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Provision for Taxation |
16.349 |
11.081 |
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Profit/(Loss) After Tax |
14.223 |
15.788 |
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Expenditures : |
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Purchases made for re-sale |
114.032 |
58.672 |
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Salaries, Wages, Bonus, etc. |
47.252 |
36.327 |
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Managerial Remuneration |
4.409 |
4.265 |
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Payment to Auditors |
0.179 |
0.155 |
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Interest |
2.016 |
2.598 |
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Insurance Expenses |
1.412 |
1.324 |
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Power & Fuel |
3.924 |
3.317 |
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Depreciation & Amortization |
6.036 |
4.263 |
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Other Expenditure |
122.146 |
110.365 |
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Total Expenditure |
301.406 |
221.286 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
4.28
|
6.36 |
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Net Profit Margin (PBT/Sales) |
(%) |
9.27
|
11.27 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.21
|
10.83 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.41 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.68
|
0.97 |
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Current Ratio (Current Asset/Current Liability) |
|
1.52
|
1.89 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
MACHINE TOOLS (INDIA) LIMITED |
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Presented By |
MACHINE TOOLS (INDIA) LIMITED AND ICICI BANK
LIMITED |
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1) Date and description of instrument creating the change |
Deed of Hypothecation dated 30th day of August 2005 executed by Machine Tools India Limited, a company within the meaning of the companies act, 1956 and having its Registered Office at 56-A, Mirza Ghalib Street, Kolkata – 70016, West Bengal, India. (therein and hereinafter reffered to the “Borrower”) in favour of ICICI Bank Limited (“ICICI”). |
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2) Amount secured by the charge/amount owing on the securities of charge |
Secured working capital facilities not exceeding Rs. 50.000 millions (the aforesaid working capital facilities as renewed / modified / amended from time to time are hereinafter collectively reffered to as “the facilities”) extended / granted to the borrower. |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The properties more particularly described in Annexure (hereinafter collectively reffered to as the Assets.) |
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4) Gist of the terms and conditions and extent and Operation of the charge. |
In consideration of ICICI having granted / agreed to Borrower the Facilities, agreement and declaration by the borrower v Covenant by the Borrower to comply / to ensure compliance with all the terms and conditions act out in the Master Facility Agreement dated 30th day of August, 2005 entered between the Borrower and ICICI as modified amended / renewed/supplemented for time to time (hereinafter collectively reffered to as the Agreement" ). v The Borrower shall pay/repay all amounts in respect of the Facilities and all other monies in the manner set out in the Agreement and the other Trade Agreement. v The Assets were there by hypothecated interalia to ICICI as exclusive charge as specified in Annexure / hereto, as security for and by repayment of the facilities, all interest and other monies payable by the specified in the Agreement and the other Transaction Documents. v The Borrower to keep the Assets in marketable and general insured as provided in the deed of Hypothecation / the agreement. v Power of Entry, power to take charge and /or possession of , seize, recover, receive, appoint receivers of and remove and /or sale by auction or private contract, despetch for realisation or otherwise dispose of or deal with all or any part of the Assets etc. as provided in the deed of hypothecation. v All other terms and conditions as continued in the deed of Hypothecation copy of which is attached hereto). |
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5) Name and Address and description of the Person entitled to the charge. |
v ICICI Bank Limited 215, Fress Press House, Nariman Point, Mumbai – 400021, Maharashtra, India. |
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This form is for |
Modification of charge |
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Whether charge is modified in favour of asset reconstruction company (ARC) of assignee |
No |
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Whether charge holder is authorised to assign the charge as per the charge agreement |
No |
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Charge Identification (ID) number of the charge to be modified |
80008855 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U99999WB1928PLC006041 |
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Name of the company |
MACHINE TOOLS (INDIA) LIMITED |
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Address |
56-A Mirza Ghalib Street, Kolkata – 700 016, West Bengal, India. |
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Type of Charges |
v Immovable property v Book debts v Movable property (not being pledge) v Floating charge |
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Whether consortium finance is involved |
No |
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Whether joint charge involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
CIN : L65190GJ1994PLC021012 Name : ICICI Bank Limited Address: Land Mark, Race Course Circle, Alkapuri, City : Baroda State : Gujarat ISO Country Code : IN Pin Code : 390015 e-mail ID : atul.bagaria@icicibank.com |
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Nature or description of the instrument creating or modifying the charge |
Memorandum of Entry dated 19.12.2006 |
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Date of the instrument creating charge |
19/12/2006 |
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Whether charge created or modified outside India |
No |
|
Amount Secure by the charge |
Rs. 60.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
(a) Rate of Interest Refer Annexure Enclosed (b) Terms of repayment Refer Annexure Enclosed (c) Margin Refer Annexure Enclosed (d) Extent and operation of the charge Refer Annexure Enclosed. |
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Short particulars of the Property charged |
Refer Annexure Enclosed |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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Date of latest modification prior to the present modification |
04/12/2006 |
|
Particulars of the present modification |
The Secured working capital facilities of the Borrower have been enhanced from Rs. 50.000 million to Rs. 60.000 million and the charge gets extends to be collateral security in the attached MOE. |
Advance Outstanding
As on 31.03.2006
|
Sr. No. |
Name of the
Party |
Amount |
|
1. |
Nutech Diary
Engineering Private Limited., Ambala |
15,000.00 |
|
2. |
H. M. T.
Bearings Limited |
48,550.00 |
|
3. |
Automotive Axies
Limited, Mysore |
100,091.00 |
|
4. |
Mogora Cosmic
Private Limited, Pune |
387,000.00 |
|
5. |
Mahindra and
Mahindra Limited, Mumbai |
88,112.00 |
|
6. |
National
Engineering Industries Limited, Jaipur |
17,680.00 |
|
7. |
Mushashi Auto Parts
India Private Limited, Rewari |
43,243.00 |
|
8. |
Triveni
Engineering and Industries Limited, Saharanpur |
132,169.00 |
|
9. |
GKN Driveline
India Limited, Dharuhera |
127,004.80 |
|
10. |
Omega
Enterprises, New Delhi |
300,000.00 |
|
11. |
Parishudh Machines
Private Limited, Ghaziabad |
19,844.00 |
|
12. |
Siemens Limited,
Thane |
13,998.00 |
|
13. |
Perfect Circle
India Limited, Nasik |
67,892.00 |
|
|
Total |
1,358,583.80 |
Company Profile:
Subject was registered and incorporated
in August 1928 as a Private Limited with the majority shares held by a British
National. In 1954 John Brown and Company Limited, U.K. acquired the controlling
interest in the Company.
The remaining shares in the Company were gradually acquired by John Brown and
Company Limited. In 1957 the Company became a wholly owned subsidiary of John
Brown and Company Limited, UK. Subsequently in 1991, capital structure was
reorganized and is now wholly owned by Indian Nationals.
The main activity of the Company is the sales and servicing of various types of Machine Tools, Precision Measuring Instruments, Welding Equipment and Consumables, Foundry Equipment, Portable and Electric Tools, Metal Cutting Tools, Roller Bearings and Allied Engineering Equipment, both imported and indigenous. Customers include companies in both public and private sectors in the Automotive Industries, Steel, Heavy Engineering, White Goods, Bearings, Railways, Aerospace and Defence establishments.
The Head Office of Machine Tools India Limited was situated in Kolkata with branches in Bombay, Bangalore and Madras.. In early 1971, the Head Office of the Company was moved to New Delhi.. However the operations in the Eastern region are being handled by a full fledged branch office in Kolkata.. Since then the Company opened new branch offices in Hyderabad, Pune, Bhopal and Vadodara. The Registered Office of the company continues to be in Kolkata and is located at 56 A, Mirza Ghalib Street, Kolkata–700 016.
The Company has been successful in securing exclusive
representation rights from world-renowned manufacturers in U.K., U.S.A., Europe
and Japan.
Having regard to the special nature of products handled,
the Company has on its staff trained engineers who advise customers on proper
selection and installation of plant and machinery. They are also capable of
demonstrating machine tools, welding machines, measuring instruments and other
products handled by the Company, training customers' staff in operating the
machines and providing after-sales-service. The Company has regular programmes
for training engineers at the manufacturers works for indepth knowledge of the
latest technological developments. Currently the Company employs over 225
persons of which about 90 are factory trained engineers engaged in both selling
and servicing of machine tools, welding machines, instruments, etc. Also Senior
Executives of the Company visit International Exhibitions to keep abreast of
new technology.
With the Company’s increasing involvement in Metrology products, a Metrology
Center has been established in Bangalore where various inspection equipments
are displayed and customers are invited to bring their components for checking
and to provide training of customers personnel. Service Centers are located in
New Delhi, Pune and Bangalore with stock of spare parts and factory trained
Engineers available for repair and servicing of products sold by the Company.
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 :
The 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.
The 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 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
72 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|