MIRA
INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
LOYAL EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
6, Chitrakoot Bunglows, Near Surdhara Society, Dahegam Road, Naroda,
Ahmedabad – 382330, Gujarat |
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Country : |
India |
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Date of Incorporation : |
20.04.2007 |
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Com. Reg. No.: |
050607 |
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CIN No.: [Company
Identification No.] |
U29190GJ2007PTC050607 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHML01062F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Pressure Vessels, Heat Exchangers, Heavy Structural Platforms. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
New company |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company in its field. Company’s first
financials are awaited. Trade relations are fair. No complaints have been
heard. The company can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Amit Patel |
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Designation : |
Account Assistant |
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Contact No.: |
Mobile no.91-9974555258 |
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Date : |
03.12.2008 |
LOCATIONS
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Registered Office : |
6, Chitrakoot Bunglows, Near Surdhara Society, Dahegam Road, Naroda,
Ahmedabad – 382330, Gujarat, India |
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Mobile No.: |
91-9825039407 (Mr. Alkesh Patel) |
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E-Mail : |
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Website : |
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Factory : |
35/2,3,4, Near Ankur Polymers,
Village-Zak, PO. Pardhol Dehgam, Gandhinagar – 382 330, Gujarat, India |
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Tel. No.: |
91-2718-247236 |
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Fax No.: |
91-2718-269033 |
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Location : |
Owned |
DIRECTORS
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Name : |
Mrs. Jyotsanaben Patel |
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Designation : |
Director |
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Address : |
6, Chitrakoot Bunglows, Near Surdhara Society, Dahegam Road, Naroda,
Ahmedabad – 382330, Gujarat, India |
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Date of Birth/Age : |
18.10.1948 |
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Qualification : |
S.S.C. |
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DIN or Income-tax PAN : |
01307770 |
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Name of sole proprietorship firm : |
Loyal Engineers Address: 35/ 4, Near Ankur Polymers, Village Zak, Tal Dehgam,
Ahmedabad – 382 330, Gujarat, India |
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Name : |
Mr. Rameshchandra N. Patel |
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Designation : |
Director |
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Address : |
6, Chitrakoot Bunglows, Near Surdhara Society, Dahegam Road, Naroda,
Ahmedabad – 382330, Gujarat, India |
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Date of Birth/Age : |
23.10.1946 |
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Qualification : |
B.A. |
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DIN or Income-tax PAN : |
01307699 |
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Name : |
Mr. Alkesh Patel |
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Designation : |
Director |
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Date of Birth/Age : |
37 Years |
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Qualification : |
Diploma |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Jyotsanaben Patel |
6000 |
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Rameshchandra N. Patel |
2000 |
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Alkesh R. Patel |
2000 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pressure Vessels, Heat Exchangers, Heavy Structural
Platforms. |
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Products : |
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Exports : |
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Products : |
Pressure Vessels, Heat Exchangers |
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Countries : |
USA, Middle East and Britain |
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Terms : |
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Selling : |
Cash and Credit 30 days |
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Purchasing : |
Cash and Credit 30/ 60 days |
GENERAL
INFORMATION
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Customers : |
Manufacturer ·
Ingersoll Rand India Limited ·
Dresser Rand India Private Limited ·
Kirloskar Pneumatic Company Limited ·
Doshi Ion And Exchange Limited ·
Ferromatic Milacron India
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Suzlon Energy Limited ·
Voltas Limited |
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No. of Employees : |
75 (In office – 10, In factory – 65) |
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Bankers : |
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Facilities : |
CC – Rs.10.000 millions |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
J.M. Patel and Brothers Chartered Accountants |
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Address : |
Ahmedabad |
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Memberships : |
ISO 9001: 2000 |
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Associates/Subsidiaries : |
Loyal Engineers Address: 35/ 4, Near Ankur Polymers, Village Zak, Tal Dehgam,
Ahmedabad – 382 330, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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58.700 |
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Expected Sales (2008-09): Rs.100.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
- Dresser Rand India
Private Limited - Naroda, Ahmedabad
- Kirloskar
Newmatic Limited - Pune
WEBSITE DETAILS:
Introduction
The Company is a designer and manufacturer of Pressure Vessels, Heat
Exchangers, Heavy Structural Platforms, Water Tanks, Receivers and all types of
Fabricated Items.
Subject is a ISO-9001:2000
certified and ASME ‘U’ stamped authorized company.
Subject is devoted to the design
and manufacture of equipment for petro-chemicals and chemical plants, power
plants, fertilizers and gas processing plants, petroleum refineries and
compressor industries, pharmaceutical plants, dairy plants.
The folder describes in particular the various types of equipments manufactured
as:
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Coded pressure vessels, both ferrous and non ferrous
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Skids for dynamic and static machineries
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Base-plates
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Sterilizers
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Chimneys
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Tanks and receivers
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Site fabrication and erection activities
Subject has
wide experience in the manufacture of equipments made from toughest materials
like,
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Low temperature steels
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High yield point carbon steels
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Stainless steels
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Non-ferrous materials required for various processes
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Overlaying and lining.
Subject engineering department has qualified engineers who have
access to computers and are trained to execute complex design calculations in
strict accordance with the the prevailing codes and standards.
Subject has total carpet area of
4500 sq. mtrs. and built up area of 25000 sq. ft. comprising of a fabrication
shop.
Fabrication Shop
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5 tonnes capacity with 60’ feet wide span, 200’ feet
long and lifting height of 30’ feet.
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10 tonnes capacity with 45’ feet wide span, 110 feet
long and lifting height of 27’ feet.
Subject is an enterprise which is wholly managed by technocrats who believe in innovative technology and quality at every stage.
Major End Users
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Reliance Industries Limited
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C. T. C. L. - Thailand
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Iffco - Phulpur
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Alkyl Amines Chemicals Limited
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Ongc - Nazira
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Kabson Industries Limited
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Apcotex Lattices Private Limited
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Chambal Fertilizer and Chem. Limited
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Hindustan Petroleum Corporation Limited
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Kerala Minerals Private Limited
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Indian Oil Corp. Limited
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Gujarat Flouro Carbonics Limited
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Tamil Nadu Petroleum Limited
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Indraprastha Gas Limited
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Niko Resources Limited
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Alexandria Fibre Company Sae – Egypt
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Gujarat State Petroleum Limited
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Ssk Exports Limited
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Energy Infrastructure
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Samtel Color Limited
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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UK Pound |
1 |
Rs.74.30 |
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Euro |
1 |
Rs.63.42 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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27 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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