MIRA INFORM REPORT

 

 

 

Report Date :

12.12.2008

 

IDENTIFICATION DETAILS

 

Name :

CREATIVE INFOTECH SOLUTIONS PRIVATE LIMITED  

 

 

Registered Office :

C-222, Belgium Chambers, Opposite Liners Bus Stop, Surat – 395001, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Date of Incorporation :

12.10.1995

 

 

Com. Reg. No.:

04-27752

 

 

CIN No.:

[Company Identification No.]

U72200GJ1995PTC027752

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Distributors of Computers, Computers Peripherals, Software, Hardware, Computer Parts, Data Transmitter, Circuit, Audio, Visual Equipments. 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

 

 

 

Maximum Credit Limit :

USD 30000

 

 

Status :

Satisfactory

 

 

Payment Behavithe :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an establishment distributor and dealer for computer hardware products. Trade relations are fair. Payments are usually correct and as per commitment.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

Nothing adverse reported.  

 

INFORMATION PARTED BY

 

Name :

Mr. Praveen Ponnarassery

Designation :

Director

Date :

11.12.2008

 

LOCATIONS

 

Registered Office :

C-222, Belgium Chambers, Opposite Liners Bus Stop, Surat – 395001, Gujarat, India 

Tel. No.:

91-261-2411554/ 2421964/ 2601045

Fax No.:

91-261-2601044

Mobile No.:

91-9374713975 (Mr. Rajesh Malani)

91-9374727465 (Mr. Ravi Malani)

91-9375775200 (Mrs. Asha Malani)

E-Mail :

mcafiling@yahoo.com

praveen@creativeinfotech.co.in

accounts@creativeinfotech.co.in

srv_surat@creativeinfotech.co.in

Website :

http://www.creativeinfotech.com

http://www.creativeinfotech.co.in

Area :

Owned

 

 

Branches :

Ankleshwar

SF - 32, Ravi Kiran Complex,  Opposite G.I.D.C. Bus Stand,  Ankleshwar – 393002, India

Phone : 91-2646-223686 / 221598

Email :  paresh@creativeinfotech.co.in

              srv_ank@creativeinfotech.co.in

 

Vapi

104, Riddhi Siddhi Chambers, Nr. Indian Bank, New Telephone Exchange Road,  G.I.D.C. Char Rasta, VAPI – 396195, India

Phone :  + 91 [260] 2432316, 2410654

Email : cispl_vapi@rediffmail.com

            sales_vapi@creativeinfotech.co.in

 

Indore

36, Johari Palace, M G Road, Indore, Madhya Pradesh, India 

 

 

Factory:

202 J B House, Near Ishwar Bhavan, Navrangpura, Ahmedabad-380014, Gujarat, India

 

 

DIRECTORS

 

Name :

Mr. Suresh Babaria

Designation :

Director

Address :

S-1, News Avenue, Anand Mahal Road, Adajan, Surat, India

Date of Birth/Age :

04.05.1961

Date of Appointment :

12.10.1995

 

 

Name :

Mr. Praveen R. Ponnarassery

Designation :

Director

Address :

A/703, Rutvan Co-Operative Housing Society Limited, Gujarat Gas, Palanpur Road, Adajan, Surat, India

Date of Birth/Age :

21.12.1966

Qualification :

BE

Date of Appointment :

12.10.1995

 

 

Name :

Mr. Kirtish Chajjed

Designation :

Director

Address :

Behind Saket Nagar, Indore, India

Date of Birth/Age :

17.07.1966

Date of Appointment :

12.10.1995

 

 

Name :

Mr. Paresh Mathukia

Designation :

Director

Address :

A-302, Millennium Residency, Gujarat Gas, Palanpur Road, Adajan, Surat, India

Date of Birth/Age :

15.05.1971

Qualification :

BE

Date of Appointment :

01.04.2005

 

 

Name :

Mrs. Geeta Praveen Ponnarassery

Designation :

Director

Address :

A/703, Rutvan Co-Operative Housing Society Limited, Gujarat Gas, Palanpur Road, Adajan, Surat, India

Date of Birth/Age :

10.04.1970

Date of Appointment :

01.04.2005

 

 

Name :

Mrs. Bintuben Paresh Mathukia

Designation :

Director

Address :

A-302, Millennium Residency, Gujarat Gas, Palanpur Road, Adajan, Surat, India

Date of Birth/Age :

11.10.1974

Date of Appointment :

01.04.2005

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

(As on 30.09.2008)

Names of Shareholders

 

No. of Shares

 

P R Praveen

 

34400

Paresh Mathuka

 

30800

Geeta P R Praveen

 

27210

Umang Tekriwal

 

100

Bintuben Paresh Mathuka

 

22700

P R Praveen HUF

 

1400

Paresh Mathuka - HUF

 

1400

 

 

 

Total

 

118010

 

(As on 30.09.2008)

Category

 

 

Percentage

Directors or relatives of directors

 

99.92

Other top fifty (50) shareholders (other than listed above)

 

0.08

 

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Distributors of Computers, Computers Peripherals, Software, Hardware, Computer Parts, Data Transmitter, Circuit, Audio, Visual Equipments. 

 

 

Products :
  • Computers
  • Printers Solution
  • Consumables
  • Power Solution- UPS
  • System Networking Components
  • Computers Peripherals
  • Software Solution
  • Toshiba
  • Hardware
  • Computer Parts
  • Data Transmitter
  • Circuit
  • Audio
  • Visual Equipments
  • Office Automation Equipments   

 

 

Brand Names :
  • Compaq
  • Invent
  • Symantec
  • Microsoft
  • IBM
  • D-Link
  • APC
  • Samsung
  • Cisco Systems
  • Syntel
  • AMP
  • 3COM
  • Siemens
  • Acton
  • Panasonic

 

 

Terms :

 

Selling :

Credit (30 days)

 

 

Purchasing :

Credit (30 days)

 

 

 

GENERAL INFORMATION

 

Customers :
  • Hindalco Industries Limited, Silvassa
  • Itw Signode India Limited, Silvassa
  • Lupin Limited, Ankleshwar
  • Rallis India Limited, Ankleshwar
  • Hikal Limited, Panoli
  • Sterlite Industries Limited, Silvassa
  • Welspun Terry Towels, Vapi
  • Essar Steel Limited,
  • Reliance Industries Limited, Hazira
  • Gujarat Glass Limited,  Kosamba
  • Enercon India Limited, Daman
  • Cairn Energy,  Hazira
  • Kribhco, Hazira
  • Silvassa Industrial Limited
  • Ongc Limited, Hazira
  • Sumul Dairy, Surat
  • Essar Shiping Limited

 

 

No of Employees :

100 (Office – 45 and Branches – 55)

 

 

Bankers :
  • Central Bank of India

Textile Market Branch, Surat, India

 

  • The Ahmedabad Mercantile Co-operative Bank
  • The Navnirman Co-operative Bank Limited
  • The Kukarwada Co-operative Bank Limited
  • Development Credit Bank Limited
  • Central Bank of India, Baroda
  • Central Bank of India, Indore
  • Bank of India, Indore
  • HDFC Bank, Surat
  • ICICI Bank, Surat

 

 

Facilities :

CC – Rs.13.000 Millions

 

Secured Loans

31.03.2008

(Rs. In Millions)

 

 

Central Bank of India C/C (Hyp of BD)

1.522

HDFC Bank Limited (B.P.)

5.816

 

 

Total

7.338

 

Unsecured Loans

31.03.2008

(Rs. In Millions)

 

 

Unsecured Loans

0.100

Total

0.100

 

 

Banking Relations :

-

 

 

 Auditors :

 

Name :

Rajesh Malani and Company

Chartered Accountant

Address :

C/ 1445-46, Kohinoor Market, Ring Road, Surat-395002, Gujarat, India

Tel. No.:

91-265-28329681/ 28352177

 

 

Name :

RRA and Company

Chartered Accountant

Address :

“Acumen”, HG-1-D, International Trade Centre, Majura Gate Crossing, Ring Road, Surat – 395002, Gujarat, India

 

 

CAPITAL STRUCTURE

 

(As on 30.09.2008)

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

150000

Equity Shares

Rs.10/- each

Rs.1.500 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

118010

Equity Shares

Rs.10/-each

Rs.1.180 Millions

 

 

 

 

 

 

(As on 31.03.2008) 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

98010

Equity Shares

Rs.10/-each

Rs.0.980 Million

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

STHECES OF FUNDS

 

31.03.2008

31.03.2007

31.03.2006

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

0.980

0.980

0.980

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

4.594

3.272

2.646

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

5.574

4.252

3.626

LOAN FUNDS

 

 

 

1] Secured Loans

7.338

10.540

5.446

2] Unsecured Loans

0.100

0.100

0.100

TOTAL BORROWING

7.438

10.640

5.546

DEFERRED TAX LIABILITIES

0.160

0.118

0.129

 

 

 

 

TOTAL

13.172

15.010

9.301

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

4.884

2.242

1.278

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.013

0.013

0.013

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
5.356
4.369

4.106

 

Sundry Debtors
25.169
25.273

13.625

 

Cash & Bank Balances
6.147
0.805

0.926

 

Other Current Assets
0.000
0.000

0.000

 

Loans & Advances
2.763
2.761

2.791

Total Current Assets
39.435
33.208

21.448

Less : CURRENT LIABILITIES & PROVISIONS
 
 

 

 

Current Liabilities
30.358
19.911

13.067

 

Provisions
0.802
0.542

0.371

Total Current Liabilities
31.160
20.453

13.438

Net Current Assets
8.275
12.755

8.010

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

13.172

15.010

9.301

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

31.03.2008

31.03.2007

31.03.2006

Sales Turnover

151.768

122.674

85.844

Other Income

0.036

0.040

0.037

Total Income

151.804

122.714

85.881

 

 

 

 

Profit/(Loss) Before Tax

2.145

1.157

0.622

Provision for Taxation

0.823

0.531

0.339

Profit/(Loss) After Tax

1.322

0.626

0.283

 

 

 

 

Total Expenditure

149.623

121.557

85.259

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2008

31.03.2007

31.03.2006

PAT / Total Income

(%)
0.87
0.51

0.33

 

 
 
 

 

Net Profit Margin

(PBT/Sales)

(%)
1.41
0.94

0.72

 

 
 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)
4.84
0.94

0.72

 

 
 
 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.38
0.27

0.17

 

 
 
 

 

Debt Equity Ratio

(Total Liability/Networth)

 
6.92
4.81

3.71

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
1.27
1.62

1.60

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Performance the year and future outlook:

 

The directors are pleased to inform that the company has achived approx 24% increase in turnover compared to previous year and the profitability of the company has also increased inspite of increasing competition in the field. Net profit after tax of the company is Rs.1.322 Million compare to last year profit of Rs.0.626 Million. Looking to the growing aspect of info technology, the directors are confident that the company will achieve better result in the current years.

 

Trade Reference:

 

 

Form 8

 

Name of the company

CREATIVE INFOTECH SOLUTIONS PRIVATE LIMITED  

Presented By

Mr. Suresh Kumar Babaria

1) Date and description of instrument creating the change

Deed of Hypothecation for Book Debts Dated 08.04.1999

2) Amount secured by the charge/amount owing on the securities of charge

Over Draft Against Book-Debts Rs. 2.500 Million

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 of Receivable not orders than 60 days.

4) Gist of the terms and conditions and extent and operation of the charge.

Over Draft against book debts to be availed against hypothecation receivable not order than 60 days Excluding that of sister/ allied units, if any, having rate of interest 17.85% p.a. and margin 50%

5) Name and Address and description of the person entitled to the charge.

Central Bank of India,

Textile Market Branch, Surat, India

6) Date  and brief description of instrument modifying the charge

NA

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.

NA

 

FIXED ASSETS:

 

 

AS PER WEBSITE DETAILS

 

PROFILE:

 

Subject is a 125 Million INR group grown strength to strength in last 11 years since inception with more than 85 personnel.

  

They are Recognized Leader trusted and name in South Gujarat region from Ankleshwar to Vapi and Daman / Silvassa for its excellence in IT infrastructure Solutions.

 

Subject was conceived out of the association of technological experts from the IT organizations viz. HCL Hewlett Packard Limited, HCL Limited, (communication division) and Zenith Computer Limited.

    

They are driven by the fact that “When a Product becomes commodity it is the Services, which is the key differentiator”.

  

The corporate-level HR & training policies and observe minimal man-power turnover, resulting betterment of company and ultimately for the clients.

 

 

SERVICES:

 

SYSTEM ANNUAL MAINTENANCE & SERVICES [AMC]

 

Service Network Division has been best equipped for extending third party support on any brand of Servers, Computers & Peripherals and Software implementation.

 

 

FACILITY MANAGEMENT [FMC]:

The Vital need for today’s 24 X 7 business is guaranteed network uptimes and performance. They have a dedicated team of Network Engineers equipped with necessary certifications and experience to Manage small to large networks and System Administration.

 

Network Management:

 

Server / System /OS Administration: PUTS YOU AT REST

 

 

ACHIEVEMENTS:

 

 

NUCLEAR POWER CORPORATION, KAKRAPAR

 

PROJECT VALUE > AROUND 2.6 MILLION INR.

 

NPC wanted to have Campus wide Networking in order to provide Intranet and Internet facilities to their employees.

 

Supply, erection, commissioning & testing of active components like Router, Switches etc. and passive components like Fibre cable, Ethernet CAT5-e cables, Rack, Patch panels and related components.

 

The network was designed for 100 MBPS switched collapsible backbone, with use of 50/125 micron cable, which gave the customer, the extra advantage of migrating to 1 GBPS backbone with just the change of Fiber tans receiver modules in switches.

 

 

 

WELSPUN TERRY TOWELS, VAPI.

 

PROJECT VALUE --> AROUND 2.2 MILLION INR

 

The network that was implemented by some other vendor was choked due to network bottlenecks. The users working on SAP had serious problems on response times. They also needed to connect WAN with their Bombay office

 

Network Auditing and re-designing the Network. On approval of the design, their scope also included erection, commissioning, and testing of entire network.

 

The re-designed the network with a Giga link between the Server-Central Switch and the Commercial Complex, which has 100 nodes.

 

The network was designed for 100 MBPS switched collapsible backbone, with use of 50/125-micron cable, which gave the customer; the extra leverage of migrating to 1 GBPS backbone with just the change of Fiber tans receiver modules in switches. They selected active components from CISCO and passive components from AMP.

 

 

KRIBHCO

 

Network comprises around 400 computers, Internet – connected. They had serious problems because of day – to –day new viruses were either slowing down their computing environment, destroying important data or corrupting the OS.

 

Providing a concrete solution to free all the systems from viruses and implement an escort, which should prevent any new virus attack in to their Network.

 

They suggested and supplied Symantec Enterprise Anti-virus software suite and implemented on 400 Nodes and Servers with Different O/S.

 

 

KRIBHCO

 

Network comprises around 400 computers, Internet – connected. They wanted to have comprehensive mailing software to enhance the communication capabilities.

 

Providing a concrete solution to free all the systems from viruses and implement an escort which should prevent any new virus attack in to their Network.

 

They implemented Lotus Domino mailing software solution at KRIBHCO for 150 nodes.

 

 

GUJARAT GLASS LIMITED

 

Their priority was user connectivity across the organization. Another aim was to implement Lotus Notes mailing S/W in order to enhance their productivity.

 

Supply erection, commissioning & testing of active components from Accton like Router, Switches etc. and passive components from AMP like Fibre cable, Ethernet CAT5-e cables and components.

 

The network was designed for 100 MBPS switched - collapsible backbone, with use of 50/125 micron cable which gave the customer, the extra leverage of migrating to 1 GBPS backbone with just the change of Fiber tans-receiver modules in switches. They are supporting close to 120 PCs.

 

 

SILVASSA INDUSTRIES (A RELIANCE GROUP OF COMPANY)

 

For India’s fastest growing Reliance Group of company, a small down time means great business loss. As their business depends a lot on Information Technologies, maintain the IT environment up for 24 X 7 X 365. They were looking forward to a reliable Service Provider who can extend such support for their Computer Hardware, Networking and Peripherals.

 

Facility management

 

They are providing Facility management with the 6 Residential Engineers posted there for round the clock support.

 

 

SUMUL DAIRY

 

350 cr. Co-operative Unit. Their activities are spread across more than 450 Villages.

 

To enhance computing capabilities and Data availability. Maintain Computers at 250 + locations.

 

Providing centralised server at Surat main office. Other locations have individual computers or small LAN and Printers. Computing environment at these all units required to be maintained regularly.

 

Alpha Server –DS20, Compaq ProLiant Servers- 5 Nos., Compaq PC-50 Nos., 250 machines & numerous Peripherals spread over Surat district.

 

 

HINDALCO IND. (ADITYA BIRLA GROUP COMPANY)

 

Various IT requirements for IT solutions

 

They have supplied Compaq ML370 Servers- 2 Nos., Compaq Workstations, Compaq PCs- 60, 70 APC UPS. Lotus Notes implemented and supported by us. They are also providing Facility management services.

 

 

CAIRN ENERGY(ENERGY MAJOR FROM SCOTLAND)

 

Project is at Laxmi oil Fields, nr. Hazira

 

Reliable IT Solution provider.

 

Their need comprised of Servers, PCs, Peripherals, Networking components and Providing Facility management.

 

They have Supplied Compaq ML 530 G2- Xeon servers – 2 Nos., ML370 - 2 Servers and 40 Compaq PCs. Maintaining their Network and Computing environment.

 

 

ENERCON INDIA LIMITED

 

It Is An Indo German joint venture Company in manufacturing of wind turbines.

 

Reliable IT Solution provider.

 

Their need comprised of Servers, PCs, and Peripherals, Networking their different locations and Provide Facility management.

 

They have supplied more than 120 PCs, Compaq ML 570 Server, 3-COM switches and other Networking components. They Networked – one Kilo Meter Fibre and implemented robust networking 3 COM switches. They are also providing Facility management.

 

 

 

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.48.52

UK Pound

1

Rs.72.62

Euro

1

Rs.63.76

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

46

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions