MIRA
INFORM REPORT
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Report Date : |
02.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
KARMEN
INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
Plot No. 12, Ponniamman
Nagar, Ayanambakkam, Chennai 600095, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.09.1997 |
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Com. Reg. No.: |
18 - 39036 |
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CIN No.: [Company
Identification No.] |
U28999TH1997PTC039036 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer of
Iron and Steel Castings, Industrial Valves and Components and Pipe Fittings. |
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 1003160 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Mr. C. Rajan,
Assistant Manager (Accounts and Commercial) declined business and financial
details. Subject is a well
established company having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are reported as slow but
correct. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION
DECLINED BY
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Name : |
Mr. C. Rajan |
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Designation : |
Assistant Manager |
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Contact No.: |
91-9840877800 |
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Date : |
21.07.2008 |
LOCATIONS
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Registered Office : |
Plot No. 12, Ponniamman
Nagar, Ayanambakkam, Chennai 600095, Tamilnadu, India |
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Tel. No.: |
91-44-26531288/ 26531073 |
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Fax No.: |
91-44-26531035 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Factory : |
Plot C-15A,
Industrial Estate Ambattur, Chennai - 600 058, Tamilnadu, India |
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Tel. No.: |
91-44-625 5685 |
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Fax No.: |
91-44-625 8412 |
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Area : |
5000 Sq. ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Ramganeshan Venkatesan |
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Designation : |
Managing Director |
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Address : |
Golden Schonbrunn Apartment, B – 2, 29, Cenotary Road, 2nd
Lane, Teynampet, Chennai – 600 018, Tamilnadu, India |
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Date of Birth/Age : |
01.05.1971 |
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Date of Appointment : |
27.08.2001 |
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Name : |
Mr. Karthikeshan Venkatesan |
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Designation : |
Director |
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Address : |
10, Arc Bishop Matias Avenue, Chennai – 600 028, Tamilnadu, India |
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Date of Appointment : |
17.11.1997 |
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Name : |
Mrs. Divya Biyani Venkatesan |
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Designation : |
Director |
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Address : |
Golden Schonbrunn Apartment, B – 2, 29, Cenotary Road, 2nd
Lane, Teynampet, Chennai – 600 018, Tamilnadu, India |
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Date of Birth/Age : |
05.09.1971 |
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Date of Appointment : |
10.12.1998 |
KEY EXECUTIVES
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Name : |
Nagarajan and Rabi Associates |
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Designation : |
Company Secretary |
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Address : |
New No. 14, 1st Floor, Srinivasa Pillai Street, West Mambalam,
Chennai – 600 033, Tamilnadu, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
No. of Shares |
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Mrs. Neela Venkatesan |
150000 |
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Mr. V. Ramganeshan |
425000 |
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Mrs. V. Meenakshi |
1000 |
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Mr. V. Karthikesan |
424000 |
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. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Iron and Steel Castings, Industrial Valves and Components and Pipe Fittings. |
GENERAL
INFORMATION
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Customers : |
v High Pressure
Valves v Pumps v Cement v Earth Moving
Machines v Heat Treatment
Furnaces v Mining
Equipments |
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No. of Employees : |
80 |
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Bankers : |
v Export Import
Bank of India Centre One Building, 21st Floor, World Trade, Centre
Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India v Axis Bank
Limited v Dhanlakshmi Bank
Limited Annanagar, Chennai – 600 102, Tamilnadu, India v State Bank of
India AMB Industrial
Estate, Chennai - 600 058, Tamilnadu, India |
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Auditors : |
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Name : |
R. Mugunthan Chartered Accountants |
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Address : |
“Vanjula”, New No. 23, Arisikara Street, Mylapore, Chennai – 600 004,
Tamilnadu, India |
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Tel. No.: |
91-44-24640742/ 24939232 |
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Fax No.: |
91-44-24933289 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity shares |
Rs. 10/- each |
Rs. 30.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity shares |
Rs. 10/- each |
Rs. 30.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
30.000 |
10.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
47.622 |
25.824 |
12.314 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
77.622 |
35.824 |
22.314 |
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LOAN FUNDS |
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1] Secured Loans |
107.499 |
57.717 |
25.163 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
107.499 |
57.717 |
25.163 |
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DEFERRED TAX LIABILITIES |
15.511 |
9.830 |
1.402 |
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TOTAL |
200.632 |
103.371 |
48.879 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
125.700 |
48.585 |
12.724 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
26.091 |
12.870 |
11.771 |
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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 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
0.000
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0.000 |
0.000 |
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Cash & Bank Balances |
0.000
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0.000 |
0.000 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
87.428
|
66.308 |
39.227 |
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Total
Current Assets |
87.428
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66.308 |
39.227 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
38.587
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24.395 |
14.848 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
38.587
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24.395 |
14.848 |
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Net Current Assets |
48.841
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41.913 |
24.379 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.003 |
0.005 |
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TOTAL |
200.632 |
103.371 |
48.879 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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319.383 |
212.082 |
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Other Income |
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17.965 |
1.544 |
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Total Income |
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337.348 |
213.626 |
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Profit/(Loss) Before Tax |
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57.508 |
26.238 |
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Provision for Taxation |
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13.430 |
11.018 |
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Profit/(Loss) After Tax |
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44.078 |
15.220 |
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Earnings in Foreign Currency : |
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FOB Value |
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302.190 |
190.342 |
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Total Earnings |
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302.190 |
190.342 |
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Imports : |
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Raw Materials |
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1.373 |
0.054 |
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Capital Goods |
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16.260 |
1.133 |
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Total Imports |
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17.633 |
1.187 |
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Total Expenditure |
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279.840 |
187.388 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
13.07
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7.12 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
18.00
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12.37 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.05
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12.28 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.74
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0.73 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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0.50
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0.68 |
0.66 |
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Current Ratio (Current Asset/Current Liability) |
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2.26
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2.72 |
2.64 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
KARMAN INTERNATIONAL PRIVATE LIMITED |
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Presented By |
Director |
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1) Date and description of instrument creating the change |
Hypothecation of Goods Agreement dated 18.03.2000 Overdraft Agreement dated 18.03.2000 Hypothecation of Book Debts dated 18.03.2000 (CRS 26, CRS 27 and CRS 28) Agreement for Term Loan dated 18.03.2000 Deed of pledge A21 and A21 (1) dated 18.03.2000 Bills Agreement dated 18.03.2000 Application – Cum- Guarantee for Letter of Credit Sanction Letter bearing Ref No. 131/ 99-2000 dated 16.03.2000 Packing Credit Agreement dated 18.03.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Engineering
Division Term Loan – Rs. 0.350 million Business Loan – Rs. 0.200 million Packing Credit – Rs. 2.500 millions OCC – Rs. 0.300 million FDBP – Rs. 2.500 millions Chemical Division Term Loan – Rs. 0.300 million OCC – Rs. 0.500 million Supply Bill Discounting – Rs. 1.000 million Import/ Inland LC – Rs. 1.000 million Total – Rs. 8.650 millions |
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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 |
Engineering
Division Hypothecation of existing machineries valued at Rs. 1.500 millions as per EVR dated 29.02.2000 Hypothecation and charge on all the other existing machineries Hypothecation of machineries meant for export Export bill backed by ECGC Guarantee payable within 90 days net from bill of lading. Hypothecation of stocks and book debts. Chemical Division Hypothecation of existing ,machinery and machinery proposed to be purchased Hypothecation of stocks and book debts Hypothecation of bills purchased/ discounted. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Engineering Division Term Loan Rate of interest: PLR + 3% + IT + PC Period: 36 months EMI: Rs. 0.013 million Business Loan Rate of interest: PLR + 3% + IT + PC Period: 24 months EMI: Rs. 0.010 million Packing Credit Rate of Interest: As per RBI Directives Margin : 25% OCC Limit Rate of Interest: PLR + 3% + IT + PC Period: 12 months Margin for stocks: 25% Margin for Book Debts : 50% Chemical Division Term Loan Rate of interest: PLR + 3% + IT + PC Period: 36 months EMI: Rs. 0.011 million OCC Rate of interest: PLR + 3% + IT + PC Period: 12 months Margin for stocks: 25% Margin for Book Debts : 50% Supply Bill Discounting Rate of interest: PLR + 3% + IT + PC Margin for stocks: 25% Margin for Book Debts : 50% Import LC/Inland Margin: 10% cash Commission: As per FEDAI Rules. |
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5) Name and Address and description of the person entitled to the charge. |
v Dhanlakshmi Bank
Limited Annanagar, Chennai – 600 102, Tamilnadu, India |
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6) Date and brief description of instrument modifying the charge |
Agreement of hypopthecation dated 28.12.2005 Agreement for export advances dated 28.12.2005 Letter evidencing extension of equitable mortgage by way of deposit of title deeds on 28.12.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
1. With the sanction of adhoc foreign usance bill discounting/ purchase limit of Rs. 7.000 millions, the total limit stands enhanced from Rs. 71.680 millions to Rs. 78.600 millions. Following are the exisating and enhanced limits.
(Rs. In millions)
2. The above enhanced limit of Rs. 78.680 millions is secured by 1st charge on entire current assets and fixed assets of the company both present and future in favour of Dhanlakshmi Bank Limited. 3. The above enhanced limit of Rs. 78.680 millions is further secured by way of extension of equitable mortgage by deposit of title deeds in respect of punja land with an extent of 61cents in survey No. 50/1, 72 cents in Survey No. 50/2 and 1 acre 64 cents in Survey No. 173/5 in Karuvantha Village, V K Pudar Taluka, Uthumalai sub registration District, Tenkasi Registration District, Tirunelveli District calued about Rs. 0.500 million standing in the name of the company and building to be constructed thereon at a cost of Rs. 0.370 million. 4. All other terms and conditions remain unchanged. |
Form 8
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This form is for |
Modification of charge |
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Charge Identification (ID) number of the charge to be modified |
90287609 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U28999TN1997PTC039036 |
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Name of the company |
KARMAN INTERNATIONAL PRIVATE LIMITED |
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Address |
Plot No. 12,
Ponniamman Nagar, Ayanambakkam, Chennai 600095, Tamilnadu, 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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Particular of the charge holder |
Name: The Dhanlakshmi Bank Limited Address: Annanagar City: Chennai State: Tamilnadu ISO country code: IN Pin code: 600 040 e-mail ID: chnanna@dhanbank.co.in |
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Nature or description of the instrument creating or modifying the charge |
Packing Credit Agreement dated 19.03.2008 Letter confirming extension of equitable mortgaging by deposit of title deeds on 19.03.2008 |
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Date of the instrument creating charge |
19.03.2008 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 153.080 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest As stipulated by the Bank from time to time Terms of repayment As stipulated by the Bank from time to time Margin As stipulated by the Bank from time to time Extent and operation of the charge The enhanced limit of Rs. 153.080 millions is secured by 1st charge on entire current assets and fixed assets of the company both present and future in favour of Dhanlakshmi Bank Limited. The enhanced limits are further secured by 1st charge by way of extension of equitable mortgage by way of deposit of title deeds in respect of Punja land with an extent of 0.61 acres in Sr. No. 50/1 and 164 cents with buildingt in Sr. No. 173/5 in Karuvantha Village, Veerakeralam Taluka, Tenkasi, Tirunelvel District |
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Short particulars of the Property charged |
1st charge on entire current assets and fixed assets of the company both present and future. 1st charge by way of extension of equitable mortgage by way of deposit of title deeds in respect of Punja land with an extent of 0.61 acres in Sr. No. 50/1 and 164 cents with buildingt in Sr. No. 173/5 in Karuvantha Village, Veerakeralam Taluka, Tenkasi, Tirunelvel District |
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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 |
10.11.2007 |
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Particulars of the present modification |
With the enhancement of packing credit limit from Rs. 25.000 millions to Rs. 30.000 millions, the total limit stands enhanced from Rs. 148.080 millions to Rs. 153.080 millions. The present limits are Term Loan II Rs. 24.080 millions Packing Credit Rs. 30.000 millions FBN Rs. 99.000 millions. |
As Per Website Details
The chemical
industry which had been on a path of high growth since liberalisation, slowed
down in FY’97. Year-on-year growth rate in Index of Industrial Production (IIP)
for chemical production in FY’96. This slowdown has been attributed to a number
of reasons. The overall slowdown in economy, including that of the agriculture
sector has bad on impact on the chemical industry. The impact of reforms on the
industry has also been severe.
The caustic soda
industry, with a size of around Rs.36 bn, comprises around 5% of the chemical
process industry in India.
Caustic soda is
manufactured/sold in liquid (lye) or
solid (flakes) form. It finds usage in diverse applications such as in the
manufacture of paper, alumina, man-made and cotton fibres, soaps/detergents and a host of chemicals.
Chlorine is a co-product and for every tonne of caustic soda manufactured, 0.88
tonnes of chlorine is produced. Chlorine is used in a number of applications
such as in the manufacture of PVC and several other organic/inorganic chemicals.
Soda ash,
chemically known as Sodium Carbonate is a versatile inorganic chemical with a
wide variety of applications. It is largely used in the manufacture of detergents,
silicates and several downstream chemicals. The domestic soda ash industry has
been facing the onslaught of imports for quite some time.
The industry is
likely to continue to be a net importer although imports may be lower in the
coming year due to larger capacities in the domestic market. The
competitiveness of the industry will be severely tested as import duties on the
furnished products come down further and foreign major seek to establish a
toehold in the country.
Vision
Subject is emerging as a leading manufacturer and supplier
of quality machined cast and forged parts and precision components for the
international valve, pump and engineering industries.
They take pride in the unique business model, the technical expertise,
the proven quality systems and the ability to offer seamless supply chain
management solutions.
The Vision is to forge strong, sustainable partnerships with
International companies for specific product ranges on an exclusive basis.
Strengths
v Its ability to understand and appreciate the customer requirements and translate them consistently into finished parts and components using castings, forgings and bar stock
v Its ability to offer the customers a smooth, reliable and hassle-free experience in every step of the process - from quotation to product development to consistent supply of parts and components
v Its ability to integrate the supply chain and offer seamless solutions to valued customers
v Its flexible manufacturing capabilities and those of the suppliers and partners are at par with the best in the world
Quality Systems
- Karmen International is certified to BS EN ISO 9001:2000 standards
by Lloyd's Register Quality Assurance
- The Quality Management system is applicable to " developing and manufacturing of ferrous
and non-ferrous manchined components to customers's specifications".
- Karmen offers castings and components with full certification
including
v Chemical Analysis
v Mechanical testing
v Ultrasonic Inspection
v Magnetic Particle Inspection
v Radiography
Quality Policy:
Subject are committed to strive towards achieving customer satisfaction
by :
Supplying consistently reliable products
Supplying products at best total cost
Maintaining on time delivery
They shall achieve this through
Meeting mutually agreed national and international standards Motivated
and Trained Team
Key Deliverable
Karmen offers its global customers the following key deliverables:
Quality Products and Service
98%+ acceptable quality level (AQL)
ISO 9002 certified by Lloyds Register Quality Assurance, U.K.
Hydrostatic testing can be carried on request.
Third party inspection by agencies such as Lloyds, TUV, and BVQI can be
arranged. Online test certificates.
Best Total Cost of
procurement
Price stability and assurance of ongoing competitiveness
Superior Supply Chain management Solutions
Virtually no repair/upgrade costs for Karmen products
Supply Chain Management Solutions
Optimum Inventory Back-up
Consignment Sales / Warehousing (key locations)
Back- to- Back Kanban
Karmen Team
Karmen International is a privately owned and managed by a core team
with extensive experience in the foundry, engineering and flow control
industries.
Sales and Customer Support
Ramesh Venkatesan, BE, M.Sc - Chief Executive Officer
E-mail:ramesh@karmengroup.com
Operations Technical Support
R. Marudhachalam (RM), BE. -General Manager
E-mail: rmengg@karmengroup.com
Quality Assurance
K Subramaniam (KS),B.Sc., - QA Head
Level III certified by American Society of Non Destructive Testing
Manufacturing
Processess
Castings
v
Sand, Shell and Investment castings from 1lb to 3300 lbs (0.5 kg to 1500
kgs)
Components
v
Theyld over layed / Hard faced components using ss410/ SS316/ Stellite
materials
v
Precision Machined
v
Thread Rolled
v
Lapped/ Ground Finished Components
Materials
They work with wide range of materials in
ferrous and non ferrous grades conforming to international specifications.
Ferrous Metals
v Grey Cast Iron
v Ductile / SG Iron
v Carbon Steels
v Low Temprature Steels
v Stainless Steels
v Heat Resistant Steels
v Nickel base Alloys for temperature and corrosive services and manganese
Steels.
Non Ferrous Metals
v
Copper based Alloys – Aluminium Bronzes
v
Nickel Bronzes
v
Silicon Bronze
v
Aluminium Alloys
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. 42.37 |
|
UK Pound |
1 |
Rs. 84.01 |
|
Euro |
1 |
Rs. 65.96 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--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, they have no basis upon which to
recommend credit dealings |
No Rating |
|