MIRA
INFORM REPORT
|
Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MANIPAL PRESS
LIMITED |
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Formerly Known As : |
MANIPAL POWER PRESS |
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Registered
Office : |
Udayavani Building,
Press Corner, Manipal – 576104, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of
Incorporation : |
13.01.2000 |
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Com. Reg. No.: |
08-26222 |
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CIN No.: [Company
Identification No.] |
U22219KA2000PTC026222 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRM05742C |
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PAN No.: [Permanent
Account No.] |
AABCM9516H |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of
Business : |
Subject is
engaged in as Printers and Publishers of security Items, like Cheques, Drafts
Scratch Card, Simcard, Annual Report, etc. |
RATING &
COMMENTS
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MIRA’s Rating
: |
Aa |
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 1700000 |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old
established company having fine track.
Available information indicates high financial responsibility of the
company. Financial position is good having strong Reserves and Surplus
position. Trade relations are
fair. Payments are 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 : |
Udayavani
Building, Press Corner, Manipal – 576 104, Karnataka, India |
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Tel. No.: |
91-820-2571121 /
2571151 to 55 / 271149-59 |
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Mobile No: |
91-9845157730 |
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Fax No.: |
91-820-2570131 /
2571162 / 70563 / 2571380 |
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E-Mail : |
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Website : |
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Area : |
50000 sq. ft. |
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Location : |
Owned |
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Branches : |
Located at :
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International
Alliances : |
Thomos Greg and
Sons Cra 6# 34-44
Bagota, Columbia |
DIRECTORS
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Name : |
Mr. Giulio
Olivotto |
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Designation : |
Director |
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Name : |
Mr. Satish T Pai |
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Designation : |
Director |
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Address : |
38, Anant Nagar,
Manipal – 576 119, Karnataka, India |
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Date of
Birth/Age : |
26.11.1941 |
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Date of
Appointment : |
13.01.2000 |
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Name : |
Mr. Perdoor V.
Mallya |
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Designation : |
Director |
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Address : |
D63C,
Ananthnagar, II Stage, Near Water tank, Manipal, Udupi-576104, Karnataka |
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Date of
Birth/Age : |
31.08.1948 |
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Date of
Appointment : |
25.01.2000 |
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Name : |
Mr. Katapady
Prabhakar Kamath |
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Designation : |
Director |
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Address : |
Shivaprabha,
Udupi, Katapady – 547 105, Karnataka, India |
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Date of
Birth/Age : |
21.04.1966 |
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Date of
Appointment : |
25.01.2000 |
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Name : |
Mr. Gautam T
Pai |
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Designation : |
Director |
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Address : |
38, Ananth Nagar,
Manipal – 576 119, Karnataka, India |
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Date of
Birth/Age : |
26.09.1974 |
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Date of
Appointment : |
30.09.2003 |
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Name : |
Mr. Sachin Tonse
Pai |
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Designation : |
Director |
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Address : |
14, Anant Nagar,
Manipal – 576 119, Karnataka, India |
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Date of
Birth/Age : |
10.03.1976 |
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Date of
Appointment : |
16.04.2004 |
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Name : |
Mr. Prabhu
Sudhakar |
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Designation : |
Director |
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Address : |
Gerukatte Karnad,
Mulki, Udupi, Karnataka-574154 |
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Date of
Birth/Age : |
12.04.1968 |
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Date of Appointment
: |
25.01.2000 |
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Date of
Ceasing : |
24.03.2005 |
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Name : |
Mr. Tonse Satish
Upendra pai |
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Designation : |
Managing Director |
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Address : |
38, Ananth Nagar,
Manipal 576 104, Karnataka |
KEY EXECUTIVES
|
Name : |
Mr. Bharat K Nayak |
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Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names
of Shareholders |
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No. of Shares |
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T. Mohandas Pai |
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40500 |
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T. Satish U. Pai |
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170904 |
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Madhav Ramadas
Pai |
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190128 |
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T. Narayana Pai |
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81000 |
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T. Ashok Pai |
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186474 |
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T. Gautam Pai |
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163314 |
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Manipal
Prakashana Private Limited |
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1215000 |
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T. Sachin Pai |
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6000 |
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Sandhya S Pai |
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14064 |
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T. Gayathri Pai |
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23436 |
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K. K. Pai |
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5450 |
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Rajan Ramdas Pai |
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7026 |
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Vasanthi Ramdas
Pai |
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14064 |
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Sharath
Investment company Private Limited |
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47808 |
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Shivalli
Investment Company Private Limited |
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88128 |
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T Sunil Ponse |
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7032 |
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T Sanjay pai |
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9375 |
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T. Narayan Pai
and Mrs. Vijaylaxmi N. Pai |
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3516 |
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Savoy Investment
Private Limited |
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4686 |
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T Upendra Satish
Pai, HUF |
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3750 |
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Manipal Media
Network Limited |
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4359409 |
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Legoprint SpA |
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2846170 |
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Total |
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9487234 |
BUSINESS DETAILS
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Line of
Business : |
Subject is
engaged in as Printers and Publishers of security Items, like Cheques, Drafts
Scratch Card, Simcard, Annual Report, etc. |
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Products : |
Printing and Call
Centre Service |
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Exports : |
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Products : |
Printing
materials / Books |
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Countries : |
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Imports : |
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Products : |
·
Scratch Labels ·
Ink, ·
Spares |
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Countries : |
·
China ·
UK ·
USA |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
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Printed Letter
Pads |
Nos. |
478.525 millions |
478.525 millions |
GENERAL
INFORMATION
|
Customers : |
Air Waybills Aramex India Private Limited Blue dart Express Limited DHL Worldwide Express DTDC Elbee Services Limited Bond and Bearer
Securities State Bank of Mysore State Bank of Travancore Syndicate Bank The South Indian Bank Limited Bus passes
Bangalore Metropolitan Transport Corporation Calendars Sahara Homes, UK Amarjyothi Mills Canara Bank Indian Overseas Bank Karnataka Bank Limited Commercial: Others Bennet Coleman Bharti Mobile BPL Mobile Britannia Industries Limited INDSIL Manufacturing Group Karishma Press Manipal Academy of Higher Education Direct Mailers HDFC Bank HDFC Securities SSKT Investor Services Private Limited Food Coupons Accor Radhakrishna High-Value Event, Lotto Tickets Bangalore Cricket association Best and Co. Mahesh Memorial trust Magazines Developer IQ Egmont Imaginations Limited IT IQ Jasubhai Digital Media Private Limited Promotional Material Fitline, Netherlands Global Outsourcing Solutions Inc., USA Sahara Homes, UK Accor Radhakrishna Aqua Sub Engineering AquaPump Industries Brittania Industries Limited Telephone Cards Blackgate Security Print & Promotions
Limited, UK Groupe Telecom Airtel Reliance Infocomm |
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No. of
Employees : |
1102 (331 in
Office and 771 in Factory) |
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Bankers : |
·
Syndicate Bank Manipal Branch,Manipal-576104, Karnataka, India ·
Corporation Bank Manipal Branch, Manipal-576104, Karnataka, India ·
Vijaya Bank, Founders Branch, Vijaya Towers, LHH Road, Bangalore-575003, Karnataka,
India ·
Manipal Co-operative Bank
Limited ·
State Bank of India, Maiithri
Complex, Udupi |
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Facilities : |
Credit Limit:
Rs.75.500 millions from Syndicate Bank Credit Limit:
Rs.13.000 millions from Corporation Bank
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Banking Relations : |
Good |
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Auditors : |
·
Sriramulu Naidu and Company Chartered
Accountants 2nd
Floor, Rambhavan Complex, Kodialbail, Mangalore - Manipal, Karnataka, India ·
Pai Nayak and Associates Chartered
Accountants 3rd Floor,
Raaj Towers, Near City Bus Stand, Udupi – 576101, Karnataka, India |
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Associates : |
·
Sharath Investment Company
Private Limited ·
Shivally Investment Company
Private Limited ·
Manipal Prakashna Private
Limited |
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Holding
Company : |
·
Manipal Media Network Limited
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Membership : |
·
Bank Stationers Association
Inc., USA ·
Graphic Arts Foundation, USA ·
PIRA, UK |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
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5000000 |
8% Redeemable Preference Shares |
Rs.10/- each |
Rs.50.000 millions |
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Total |
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Rs.250.000 millions |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
6641064 |
Equity Shares |
Rs.10/- each |
Rs.66.411 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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66.411 |
49.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
369.888 |
280.057 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
436.299 |
329.057 |
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LOAN FUNDS |
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1] Secured Loans |
|
754.016 |
281.154 |
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2] Unsecured Loans |
|
69.159 |
17.821 |
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TOTAL BORROWING |
|
823.175 |
298.975 |
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DEFERRED TAX LIABILITIES |
|
67.673 |
33.188 |
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TOTAL |
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1327.147 |
661.220 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
897.437 |
455.355 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.600 |
0.435 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
132.748 |
88.794 |
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Sundry Debtors |
|
297.796 |
164.884 |
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Cash & Bank Balances |
|
6.161 |
2.185 |
|
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Other Current Assets |
|
0.000 |
0.000 |
|
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Loans & Advances |
|
158.033 |
48.375 |
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Total
Current Assets |
|
594.738 |
304.238 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
111.563 |
68.863 |
|
|
Provisions |
|
54.065 |
29.945 |
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Total
Current Liabilities |
|
165.628 |
98.808 |
|
|
Net Current Assets |
|
429.110 |
205.430 |
|
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
1327.147 |
661.220 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
1105.665 |
697.993 |
|
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Other Income |
|
5.494 |
2.753 |
|
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Total Income |
|
1111.159 |
700.746 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
184.592 |
96.995 |
|
|
Provision for Taxation |
|
63.280 |
33.823 |
|
|
Profit/(Loss) After Tax |
|
121.312 |
63.172 |
|
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Earnings in Foreign Currency : |
|
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Printing |
|
3.757 |
27.326 |
|
|
Informatics |
|
50.578 |
49.558 |
|
Total Earnings |
|
54.335 |
76.884 |
|
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Imports : |
|
|
|
|
|
|
Raw Materials |
|
53.459 |
14.704 |
|
|
Stores & Spares |
|
6.104 |
4.129 |
|
|
Capital Goods |
|
368.763 |
32.106 |
|
Total Imports |
|
428.326 |
50.939 |
|
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Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
|
458.199 |
259.085 |
|
|
Operating Expenses |
|
136.000 |
105.442 |
|
|
Personnel Expenses |
|
98.855 |
85.492 |
|
|
Selling Expenses |
|
106.033 |
77.698 |
|
|
Interest |
|
51.975 |
27.203 |
|
|
Depreciation & Amortization |
|
49.813 |
35.596 |
|
|
Other Expenditure |
|
25.692 |
13.235 |
|
Total Expenditure |
|
926.567 |
603.751 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2007 |
31.03.2006 |
PAT / Total Income
|
(%)
|
|
10.92 |
9.01 |
|
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|
Net Profit Margin
(PBT/Sales) |
(%) |
|
16.61 |
13.84 |
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|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
12.37 |
12.77 |
|
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|
Return on Investment (ROI)
(PBT/Networth) |
|
|
0.42 |
0.29 |
|
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|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
2.27 |
1.21 |
|
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|
Current Ratio
(Current
Asset/Current Liability) |
|
|
3.59 |
3.08 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
The company was
Partnership concern reconstituted on 28.11.1999, with name and style of
‘Manipal Power Press’. Later on it has
converted as Joint Stock company on 13.01.2000 with the name and style of
“Manipal Press Private Limited”.
Again the company
has been converted as public limited company w.e.f. 04.04.2000.
The company’s
Security Products are as under :
·
FD (Fixed Deposit) Receipts
·
Gift Vouchers, Food Coupons
·
Game Tickets, Passes, Booklets
·
Scratch off Cards/Tickets and
other promotional security
·
Statement of Accounts
·
Billing Statements
·
OCR/OMR Sheets with Bar Coding
·
Boarding Pass for Airlines
·
ATM Rolls
·
Fax Rolls
·
On line Lottery Tickets
·
On line Lottery Authentication
Ticket Rolls
·
Other High Security Items
·
Cheques
·
Demand Drafts
·
Pay Orders
·
Personalised Cheques with MIRC
Numbering
AS PER WEBSITE
Profile
The company was
established in the year 1941 as Manipal Power Press with the firm belief that
keen enterprise and refined professionalism lead to success.
The company lead
Security Printing in India and are one of the largest Stationery and Commercial
Printers.
Born out of a
vision to perfect the printed word, the Manipal Press Limited (MPL) is now at
the center of India’s Print Revolution.
It has grown with the times to embrace the latest in technology, and to offer
clients quality and punctuality at costs that make business sense.
In fact, this state-of-the-art 100,000 sq.ft. facility today offers 360 degree
solutions for all print-related projects.
Started in 1941, MPL prints a large variety of products in the commercial,
security, business forms and digital categories. Its advanced pre-press and
post-press divisions offer complete services from product design and
development to logistics.
Subject’s allied media-house Manipal Media Network Limited provides the vital
experience and link with publishing, while its BPO division, Manipal
Informatics, ensures 24x7 connectivity that always keeps MPL on its toes.
Vigil is incorporated into every step and the best quality assurance tools are
deployed. It’s no wonder then that the last 5 years have seen subject grow in
international presence. In the end, it’s all about Precision and Perfection in
Printing.
Services
Subject offers
complete Print Management Services to cover all the printing requirements.
Subject is in touch
with the growing demands and technological leaps in the industry to provide
optimal print solutions from Pre-Press to Press to Post-Press.
In fact, it doesn’t stop with printing. Subject is probably the only one of its
kind to offer Business Process Outsourcing facilities to handle the downstream
marketing, order taking, support and other requirements.
Manipal
Informatics, a wholly owned subsidiary of Manipal Press, is its typesetting,
origination & e-publishing and BPO division and already handles CRM
for many offshore clients. Other examples of MPL's synergy with IT include:
- Infone Communications Inc., USA for its Business Directory printing,
e-commerce applications and direct
marketing.
- Sahara Homes, UK for its Catalogue designing and
printing, and e-commerce applications.
- Daminis, UK for its Stationery printing and
e-commerce applications.
While in India, subject handles complete
print solutions from books to mark sheets, and multimedia courseware
development for the e-learning initiative of the Manipal Academy for Higher Education (MAHE), the country’s largest
private university.
Infrastructure
Manipal Press was set up in 1941 with just one client and a letter press machine. Today it occupies 200,000 square feet with high end equipment and machinery from leading manufacturers that include Heidelberg, Muller Martini. Kodak, MAN Roland, KBA, Komori and Atlantic Zeiser.
Pre Press
- Heidelberg
Topaz
- Epson and HP
- MACINTOSH
PLATFORM
- PC PLATFORM
- DELTA
HARDWARE RIP WITH HEIDELBERG'S DUOSETTER IMAGESETTER
- HARLEQUIN RIP
WITH IMAGE HARBOUR FOR HERKULES PRO IMAGESETTER
- WORK FLOW
- SOFTWARE
IMPOSITION
- OMR SOFTWARE
- Protek Film
Processor FP66 and FP72
- Protek
- X-Rite 341
- Proteck
- COMPANICA -
5161 C - 618C
- KLIMSCH AUTO
COMPACT - SE
- Epson Stylus
PRO 9800
- SCREEN Plate
Rite 8600s
Products
The subject offers a comprehensive range of
highly specialized print solutions covering the entire gamut of products from
high-quality commercial printing to classified security printing. This has made
it one of the most sought-after printing facilities in India. The ability to
optimally utilize resources to handle unprecedented and uncommon jobs of any
volume resulting in greater cost efficiency for customers is its biggest USP.
Commercial Products
Books
Directories
Magazines
Catalogues
Promotional Material
Annual Reports
Direct Mailers
Calendars
Comics
Diaries
Business Stationery
Security Products
Bond and Bearer Securities
Traveler's Cheques
Bank Cheques
Demand Drafts
Pay Orders
Share Certificates
Dividend Warrants
Interest Warrants
FD Receipts
Food Coupons
Scratch Cards
High-value Event, Lotto Tickets
Personalised Cheques with MIRC Numbering
Business Forms
Air Waybills
Bank Statements
Mark Sheets
Pre-printed Stationery
Direct Mailers
Vouchers and Invoices
Security Products available in the continuous stationery form:
Cheques
Demand Drafts
Dividend Warrants
Interest Warrants
Bond and Bearer Securities
Share Certificates
FD Receipts
Confidential Documents
Card Products
Telephone cards
Promotional scratch cards
Magnetic swipe cards
Digital Variable Data
Direct Mailers
Telephone Bills
Utility Bills
Frequent Flyer Statements
On-demand Books
Personalized Catalogues
Instruction Manuals
Personalized Security Products
It is in trade
terms with :
·
Bank of India
·
Dhanalakshmi Bank
·
Lord Krishna Bank
·
Mangalore Chemicals and
Fertilisers
·
Nagarjuna Fertilisers and
Chemicals Limited
·
Reliance Capital Limited
·
Reliance Industries Limited
·
Reliance Petroleum Limited
·
Syndicate Bank
·
The Jindal Vijayanagar Steel
Limited
·
Vijaya Bank
·
Canara Bank
·
Indian Overseas Bank
·
Karnataka Bank
·
Manipal Academy of Higher
Education
·
Manipal Media Network Limited
·
PVS Group
·
Syndicate Bank
·
BASF
·
Bostic India Limited
·
C.P. Aquaculture India Limited
·
Can Fin Homes Limited
·
DHL Worldwide Express
·
Hindustan Lever Limited
·
HPCL
·
I.N.G. Vysya Bank
·
Jindal Vijayanagar Steels
·
Kirloskar Electric Company
Limited
·
Life Insurance Corporation
India Limited
·
Mangalore Refinery and
Petrochemicals Limited
·
Premier Instruments and
Controls Limited
·
Reliance Industries Limited
·
Standard Chartered Grindlays
Bank Limited
·
Taj GVK Hotesl
·
Toyota Kirloskar Motors
·
TVS Motors Limited
FIXED ASSTES:
· Land – Freehold, Leasehold,
· Buildings – Freehold, Leasehold
· Electrical fittings
· Furniture and fittings
· Office Equipments
· Plant and machinery
· Computers
· Car, Van, and other vehicles
Contingent Liabilities:
|
Particulars |
31.03.2007 |
31.03.2006 |
|
Letter of credit |
98.891 |
53.940 |
|
Bank Guarantees – Printing Division |
7.820 |
7.804 |
|
Informatics division |
0.500 |
0.500 |
|
Cheques / DD’s discounted |
0.014 |
0.743 |
|
Disputed Sales Tax Liability (Printing
Division) |
0.000 |
1.777 |
|
Disputed Income Tax liability for A Y 2001
-02 |
0.000 |
0.505 |
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 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.42.40 |
|
UK Pound |
1 |
Rs.80.54 |
|
Euro |
1 |
Rs.62.96 |
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 |
9 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
74 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|