MIRA
INFORM REPORT
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Report Date : |
20.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
GKB HI - TECH LENSES PRIVATE LIMITED |
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Formerly Known As : |
GOA OPTOLAB PRIVATE LIMITED |
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Registered Office : |
50, Tivim Industrial Estate, Mapusa – 403 526, Goa |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.02.1986 |
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Com. Reg. No.: |
24-000662 |
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CIN No.: [Company
Identification No.] |
U33201GA1986PTC000662 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of Spectacle Lenses. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 3000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well - established and reputed company having fine track.
Available information indicates high financial responsibility of the company.
General financial position is good. Business is active. Payments are reported
as usually correct and as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Pradeep |
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Designation : |
Accounts Head |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office / Corporate Office / Factory : |
50, Tivim Industrial Estate, Mapusa – 403 526, Goa , India |
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Tel. No.: |
91-832-2257371 / 72 |
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Mobile No.: |
91-908322257371 |
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Fax No.: |
91-832-2257236 / 2417559 |
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E-Mail : |
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Website : |
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International Office : |
1st Floor, Carl Zeiss Building, 363 Oak Avenue, Ferndale,
Randburg 2194, South Africa |
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Tel. No.: |
0027 11 3261 320 |
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Fax No.: |
0027 11 326 3286 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Mahendra Kumar Gupta |
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Designation : |
Chairman & Managing Director |
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Address : |
785, Shantam , Alto Betim, Porvorim -403 501, Goa, India |
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Date of Birth/Age : |
12.03.1944 |
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Date of Appointment : |
23.06.1992 |
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Name : |
Mrs. Meera Gupta |
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Designation : |
Director |
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Address : |
785, Shantam , Alto Betim, Porvorim -403 501, Goa, India |
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Date of Birth/Age : |
16.08.1949 |
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Date of Appointment : |
23.06.1992 |
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Name : |
Mr. Shobit Gupta |
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Designation : |
Director |
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Address : |
785, Shantam , Alto Betim, Porvorim -403 501, Goa, India |
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Date of Birth/Age : |
19.07.1973 |
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Date of Appointment : |
31.08.1998 |
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Name : |
Mr. Neeraj Gupta |
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Designation : |
Director |
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Address : |
785, Shantam , Alto Betim, Porvorim -403 501, Goa, India |
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Date of Birth/Age : |
24.09.1975 |
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Date of Appointment : |
31.08.1998 |
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Name : |
Mr. Arun Kumar Musaddy |
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Designation : |
Director |
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Address : |
“Panhar” Flat No. 4 B, Plot No. 5, Abdul Gaffer Khan Road, Worli Sea
Face, Mumbai , Maharashtra, India |
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Date of Appointment : |
17.08.2004 |
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Name : |
Mr. Oswald Das Chagas E Silva |
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Designation : |
Director |
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Address : |
Lar Fatima , H No. 1468/22, Faj Hsgh. colony, Madel Tivim, Bardez –
Goa |
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Date of Appointment : |
17.08.2004 |
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Name : |
Mr. Rajendra Gupta |
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Designation : |
Director |
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Name : |
Mr. Winfried G Mueller |
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Designation : |
Director |
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Date of Birth : |
18.02.1955 |
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Date of Appointment : |
09.08.2005 |
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Name : |
Mr. Zeriff |
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Designation : |
Director |
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Name : |
Mr. Herbert |
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Designation : |
Director |
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Name : |
Mr. David Andrew Cross |
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Designation : |
Director |
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Date of Birth : |
06.11.1955 |
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Date of Appointment : |
09.08.2005 |
KEY EXECUTIVES
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Name : |
Mr. Pradeep |
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Designation : |
Accounts Head |
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Name : |
Mr. Ajay Ernest Charles |
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Designation : |
Secretary |
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Address : |
Veronica Saldanha D Mello Vaddo, Arrarim, Saligao, Bardez – 403 511,
Goa India |
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Date of Birth/Age : |
30.11.1981 |
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Date of Appointment : |
26.05.2008 |
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Tel No.: |
91-832-2278380 |
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Fax No.: |
91-832-2257236 |
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E-mail: |
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Pan No.: |
AISPD8665L |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Mahendra Kumar Gupta |
2007663 |
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Mrs. Meera Gupta |
783460 |
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Mr. Shobit Gupta |
184760 |
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Mr. Neeraj Gupta |
184760 |
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Ms. Rachita Gupta |
205760 |
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Ms. Kanak Gupta |
21000 |
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Ms. Priya Gupta |
21000 |
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Carl Zeissag Germany |
1197547 |
Equity Share Breakup (Percentage of Total Equity) :- [As on 31.03.2007]
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Category |
Percentage |
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Foreign Holdings (Foreign Institutional
Investor(s), Foreign Companie(s), Foreign Financial Institution(s), Non – Resident
Indian(s) Or Overseas Corporate Bodies Or Others |
26.00 |
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Directors or relative of directors |
73.38 |
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Others |
0.62 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Spectacle Lenses. |
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Brand Name : |
"GKB". |
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Exports : |
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Countries : |
European Countries |
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Imports : |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Credit (60-90 days) |
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Purchasing : |
L/C, Cash, Credit (75-90 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers |
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No. of Employees : |
750 |
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Bankers : |
· ICICI Bank, Mapusa — 403 507, Goa, India
· State Bank of India, Commercial Branch, State Bank Staff Training Centre Building, Patto Plaza, Panjim – 403 001, Goa, India · ICICI Bank Limited, Landmark Race Cource Circle, Allapuri, Baroda – 390 015, Gujarat, India · State Bank of India, Mapusa Branch, Goa, India |
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Facilities : |
From ICICI Bank Cash Credit – Rs. 210.000 millions From State Bank
of India Cash Credit - Rs. 90.000
millions |
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Banking
Relations : |
Good |
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Auditors : |
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Name 1 : |
Y Naryana Upadhyay and Company Chartered Accountants |
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Address : |
1st Floor, Souza Tower, Panaji – 403 001, Goa , India |
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Name 2 : |
Mr. S. R. Kenkre Chartered Accountants |
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Address : |
Rani Pramila Building, 18th June Road, Panaji - 403 001, Goa |
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Associates/Subsidiaries : |
· GKB Optolab Private Limited Address : 50, Tivim Industrial Estate,
Mapusa – 403 526, Goa , India Activity: Manufacturing of Spectacle Lenses. · GKB Vision Limited · GKB Ophthalmics Limited |
CAPITAL STRUCTURE
(As on 31.03.2007)
:-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6500000 |
Equity Shares |
Rs. 10/- each |
Rs. 65.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
4830001 |
Equity Shares |
Rs. 10/- each |
Rs.48.300
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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48.300 |
48.300 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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553.452 |
442.364 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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601.752 |
490.664 |
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LOAN FUNDS |
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1] Secured Loans |
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385.705 |
255.207 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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385.705 |
255.207 |
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DEFERRED TAX LIABILITIES |
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41.689 |
29.020 |
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TOTAL |
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1029.146 |
774.891 |
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APPLICATION OF FUNDS |
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489.892 |
377.454 |
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FIXED ASSETS [Net Block] |
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3.778 |
4.309 |
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Capital work-in-progress |
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4.030 |
4.030 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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301.433 |
214.411 |
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Sundry Debtors |
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278.905 |
146.422 |
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Cash & Bank Balances |
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18.564 |
47.572 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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43.472 |
36.988 |
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Total
Current Assets |
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642.374 |
445.393 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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125.353 |
65.861 |
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Provisions |
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12.591 |
8.340 |
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Total
Current Liabilities |
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137.944 |
74.201 |
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Net Current Assets |
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504.430 |
371.192 |
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MISCELLANEOUS EXPENSES |
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27.016 |
17.907 |
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TOTAL |
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1029.146 |
774.891 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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635.445 |
390.089 |
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Other Income |
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4.877 |
3.347 |
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Total Income |
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640.322 |
393.436 |
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Profit/(Loss) Before Tax |
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136.269 |
72.889 |
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Provision for Taxation |
|
25.180 |
14.841 |
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Profit/(Loss) After Tax |
|
111.089 |
58.048 |
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Export Value |
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252.359 |
115.261 |
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Import Value |
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239.336 |
156.356 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
|
[13.565] |
[19.022] |
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Financial Charges |
|
34.146 |
19.862 |
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Depreciation & Amortization |
|
28.196 |
23.018 |
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Other Expenditure |
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455.276 |
296.689 |
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Total Expenditure |
|
504.053 |
320.547 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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17.35 |
14.75 |
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Net Profit Margin (PBT/Sales) |
(%) |
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21.44 |
18.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.23 |
0.15 |
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Return on Investment (ROI) (PBT/Networth) |
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11.95 |
8.77 |
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Debt Equity Ratio (Total Liability/Networth) |
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|
0.87 |
0.67 |
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Current Ratio (Current Asset/Current Liability) |
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4.66
|
6.00 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Name of the company |
GKB HI - TECH LENSES PRIVATE LIMITED |
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Presented By |
Mr. Shobit Gupta , Director |
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1) Date and description of instrument creating the change |
17.06.1993
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 9.500
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 |
Hypothecation and
/ or pledge of all present and future goods, book debts, and other assets,
including documents of title to goods, outstanding moneys, receivables,
bills, etc |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The bank has
agreed to finance the borrower business and granted the following credit
facilities with in overall limit of Rs. 9.500 millions
These facilities
have been granted subject to terms and conditions, the gist of whereof is as
under Interest Interest rate for
the facilities will be as directed by the Reserve Bank of India from time to
time. Effective current rate of interests
while inclusive of interest tax Margin: The facilities
will be subject to the following margin
The detailed gist
of the terms and conditions governing
the grant of the credit facilities is
given in the letter No. SBI/93/473
dated 01.06.1993 of State Bank of India , Mapusa, Goa |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, Commercial Branch, Patto Plaza, Panaji, Goa – 403 001, India |
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6) Date and brief description of instrument modifying the charge |
13.04.2005 Supplemental
General Agreement for grant for small Industrial Advances and hypothecation
of goods , book debts, and other assets dated 13.04.2005 Agreement for the
grant of small industrial Advances
dated 13.04.2005 Agreement for the
grant of small industrial advances
dated 13.04.2005 Guarantees for
small Industrial Advances (Working Capital Finance ) dated 13.04.2005 Agreement to strength
security dated 13.04.2005 Recital for
extension of equitable mortgage of M/s Goa Optolab Private Limited dated
13.04.2005. |
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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. |
The Bank has
modified and enhanced the credit
facilities granted to the company as
follows:-
Rate of interest The interests
shall be charged by the bank at the rate of 1.50 % over the State bank of
India Advance Rate with a minimum of 11.75 % per annum. |
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Corporate
identity number of the company |
U33201GA1986PTC000662 |
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Name of the
company |
GKB HI - TECH
LENSES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
50, Tivim Industrial Estate, Mapusa – 403 526, Goa , India |
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This form is for |
Creation of charge
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Type of charge |
Immovable property |
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Particular of
charge holder |
CIN :
L65190GJ1994PLC21012 ICICI Bank
Limited Address :Landmark
Race Cource Circle, Allapuri, Baroda – 390 015, Gujarat, India E-Mail: abha.g@icicibank.com |
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Nature of
instrument creating charge |
Recital for
extension of MOE executed by State Bank of India |
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Date of
instrument Creating the charge |
07.03.2008 |
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Amount secured by
the charge |
Rs. 165.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : Cash credit :
2.25 % per annum below the sum of IBAR and cash credit Risk premia prevailing
on each day , plus applicable interest tax
or other statutory levy WCDL : for INR it
2.05% p.a below the sum of IBAR and 6 month term premia For foreign
currency loan it will be 3 months
LIBOR plus mark up advised by
ICICI Bank at the time of confirmation of drawal Terms of Repayment : Working capital is
payable on demand. WCDL: Principal
Amount of each tranche is to repaid as bullet payment on the maturity date or
in installments as agreed upon but within the validity period of the
facility. Margin : Raw Material :
25% Stock in process
and stores and spares : 25% Finished goods :
25% Margin on Book
debts of cover period of 90 days : 40% Extent and Operation of the charge : First
pari-passu charge on all present and
future immovable fixed assets ranking pari-passu with state Bank of India |
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Short Particulars
of the property charged |
· Factory Building D-3-5 situated in Plot No. 13 in Tivim Industrial Estate, Mapusa , Goa · Factory Building D-3-4 situated in Plot No. 12 in Tivim Industrial Estate , Mapusa , Goa · Factory Building D-3-11 situated in Plot No. 50 in Tivim Industrial Estate , Mapusa , Goa |
NOTES:-
The Company Registered Office - 12 Tivim Industrial Estate, Mapusa –
403526 Goa, India was shifted to present address w.e.f 05.06.2006
Other Details:-
They are Joint Ventured with “Carl Zeiss Vision International”, Germany
The company participated in the International Ophthalmic Trade Fairs at Optica 2001 at Koln, Germany and at Mido 2001 at Milan, Italy.
WEBSITE DETAILS:-
Company Profile
PAST
The story of GKB
(Gopal Krishna Brothers) commenced on a humble note with the setting up of just
four hand-operated single spindle machines to surface ophthalmic lenses in the
verandah of a house at Agra in 1959. By 1964 the company had moved into its own
building. They were amongst the first manufacturing units in the country to
have installed imported automatic generators and smoothing and polishing
machines to produce ophthalmic lenses. They soon established an envious
position as one of the leading manufacturers of quality ophthalmic lenses in
the country and entered exports in a modest way in 1975. In 1980, the company
received the special CAPEXIL Export award for Ophthalmic Lenses, for the first
time in the country.
The company was originally started by the four Gupta brothers, all of whom are
today much respected and renowned figures in the ophthalmic optics business in
India.
Mr. Mahendra K. Gupta, the youngest in the family was looking after exports in
addition to other responsibilities. In 1982, he was the first to leave the nest
when he moved to Goa to set up a 100% export oriented unit at a total project
cost of Rupees 4.500 millions. In 1985, a prescription laboratory was started
under the banner of Goa Optolab Private Limited. A branch-manufacturing unit at
Delhi followed this.
When the family decided to part ways in
1991, Goa Optolab came under the wings of Mr. Mahendra K. Gupta. Under his
dynamic vision and leadership the company has grown by leaps and bounds.
He founded the GKB Hi-Tech Group that soon came to be reckoned amongst the
leading manufacturers in India for both glass and plastic ophthalmic lenses.
present
Currently, his two
technocrat director sons, Mr. Shobit Gupta and Mr. Neeraj Gupta ably assist
Mr.Mahendra K. Gupta in running the three companies under the GKB Hi-Tech Group
umbrella. The three companies are: Goa Optolab Private Limited., which
manufactures prescription lenses and directly supplies to Opticians worldwide;
GKB Hi-Tech Lenses, which manufactures glass and plastic ophthalmic lenses for
both export and the domestic market, and GKB Optolab Private Limited, which
takes care of the growing retail operations.
Thanks to the foresight of the Group's leaders, Subject's turnover has risen at
an exponential level, from Rupees 5.000 millions to over Rupees 1200.000
millions, in a short span of just 16 years. This is no mean feat by any
standards.
With its reputation of always keeping up-to-date with the latest technological
advances in the industry, this forward looking company has grown to become one
of the largest and most successful ophthalmic lens manufacturers in India, with
a current market share of 40%. In India, the company can proudly boast of:
A total
manufacturing area of more than 200,000 square feet, with 10 AR coating plants,
20 hard coating machines and 650 machines for the manufacture of glass and
plastic ophthalmic lenses.
State-of-the-art
machinery imported from LOH, Coburn, Balzers and Satis Vacuum.
Being the first
company in India to manufacture Progressive lenses, Hi-index lenses and
multicoated lenses Producing lenses which have ISI specification and which also
meet International standards including DIN of Germany, FDA of USA
Capacity to manufacture
10,000 Rx lenses, 15,000 hard coated lenses, 12,000 AR coated lenses and 25,000
stock lenses
Dispatching over
12,000 made-toorder lenses daily, all over India.
Being the first
company to set up a network of regional prescription laboratories. Currently,
they have 18 laboratories in 18 major cities in the country.
A well-knit
marketing and distribution network of service centers in the cities of
Ahmedabad, Bangalore, Chennai, Cochin, Hyderabad, Jaipur, Mangalore, Mumbai,
Pune and Surat. These service centers facilitate booking of orders regionally.
These orders are then transmitted via e-mail to the factory for processing.
A chain of 86 retail
showrooms across India.
Exporting ophthalmic
lenses to over 30 countries worldwide, including Europe, Middle East and
Sub-Saharan countries. Almost 15,000 lenses are exported daily.
future
Subject is a
progressive company that has never been known to falter from its path of
creating a well developed infra-structure in the optical trade.
At an early stage the company realised that creating awareness for the more
expensive value added products like lightweight plastic lenses, progressive
lenses and AR coated lenses could not be left alone to the traditional
opticians. So they set about creating an awareness network for these
value-added products by opening their own retail showrooms. Their first
showroom opened at Porvorim in Goa in 1996 and today they have a chain of 86
retail showrooms. They have plans to expand this chain to a total of at least 200
showrooms spread all over India within the next one-year.
In addition to showcasing the products of the company, these retail outlets
work to create increased awareness of the latest trends in ophthalmic lenses
and encourage consumers to adopt these. This has resulted in increased volume
and returns not only for the company but also for the entire optical trade in
South India. This has also encouraged other manufacturers to promote
value-added products.
As Mr. Mahendra K. Gupta proudly states "If ever there were Oscar awards
to be given in the optical trade for creating awareness for value added
products, it would definitely have been awarded to GKB Hi-Tech Limited.. Their
dedication to this endeavor has not only helped to evolve the optical trade in the
country, but has made business easier for generations to follow"
Subject is now poised on the threshold of another new venture that is sure to
make the company scale new heights. This is a joint venture with Carl Zeiss, a
world leader in the optical and opto-electronic industry, with a rich history
spanning back over 150 years.
As a progressive fallout of this joint venture, an exclusive laboratory for
manufacturing Zeiss lenses will see the light of the day at Goa. This
laboratory costing 80 million Rupees will have the capacity to manufacture 1000
Rx lenses a day which will be multicoated and laser-marked with the Zeiss mark
of quality, signifying the lifelong guarantee that comes with every Zeiss lens.
These Zeiss lenses will be available to every optician in India.
Further expansion plans for the company includes an upgrade of the existing the
company facilities with the latest generators from LOH of Germany and several
new machines for AR and hard coating of ophthalmic lenses. Cost of this upgrade
is projected to be up to Rs. 120 million.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.23 |
|
UK Pound |
1 |
Rs.80.89 |
|
Euro |
1 |
Rs.63.80 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|