MIRA
INFORM REPORT
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Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASHTECH INFOTECH PRIVATE LIMITED |
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Registered Office : |
G 5/7, Laxmi Woollen Mills Estate, Shakti Mill Lane, Near Mahalaxmi
Station, Mumbai-400011, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
05.11.1993 |
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Com. Reg. No.: |
11-74939 |
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CIN No.: [Company
Identification No.] |
U30007MH1993PTC074939 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA20781F |
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PAN No.: [Permanent
Account No.] |
AAACA3546N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in
trading and repairs/maintenance of computer systems. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 310000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Trade relations are fair. Business is active. No complaints have been
heard. The company can be considered good for normal business dealings. |
INFORMATION
DECLINED BY
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Name : |
Mr. Ramesh Dave |
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Designation : |
General Manager in Finance |
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Date : |
12.12.2008 |
LOCATIONS
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Registered Office : |
G 5/7, Laxmi Woollen Mills Estate, Shakti Mill Lane, Near Mahalaxmi Station,
Mumbai-400011, Maharashtra, India |
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E-Mail : |
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Website : |
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Sales Office : |
Located at: · Mumbai, Maharashtra · Ahmedabad, Gujarat ·
Delhi |
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Support Service Centre : |
Located At: G-7, Laxmi Wollen Mill Estate, Shakti Mill Lane,
Mahalaxmi, Mumbai – 400 001, Maharashtra |
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Tel. No.: |
91-22-24981919/24983131 |
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Fax No.: |
91-22-24950429 |
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E-Mail : |
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Support Service Centre: |
Located At: Ahmedabad, Gujarat |
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Tel. No.: |
91-79-26563382/26406538/26431974 |
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Fax No.: |
91-79-26402507 |
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E-Mail : |
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Support Service Centre: |
Delhi |
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Mobile No.: |
91-9810030132 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Saurin Devendra Shah |
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Designation : |
Managing Director |
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Address : |
15, Avillon, 4th Floor, Little Gibbs Road, Walkeshwar,
Mumbai-400006, Maharashtra, India |
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Date of Birth/Age : |
11.12.1958 |
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Date of Appointment : |
05.11.1993 |
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Name : |
Mr. Shreyas Narendra Shah |
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Designation : |
Whole-time –Director |
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Address : |
7, Pavalova, Little Gibbs Road, Walkeshwar, Mumbai-400006,
Maharashtra, India |
KEY EXECUTIVES
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Name : |
Mr. Ramesh Dave |
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Designation : |
General Manager in Finance |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 26.09.2008
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Names of Shareholders |
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No. of Shares |
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Shah Devendra Surin |
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164900 |
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Sshah Narendra Shreyas |
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58900 |
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Saurin Devendra Shah (HUF) |
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13900 |
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Shreyas Narendra Shah (HUF) |
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6700 |
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Shah Shreyas Kalpana |
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109900 |
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Devendra Ramanlal Shah (HUF) |
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114800 |
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Shah Saurin Zarna |
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207900 |
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Shah Ramanlal Devendra |
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61400 |
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Shah Devendra Shilpa |
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100 |
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Shah Devendra Suchita |
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100 |
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Shaha Devendra Sonali |
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100 |
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Shah Ramanlal Narendra |
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100 |
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Narendra Ramanlal Shah (HUF) |
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100 |
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Shah Narendra Asit |
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100 |
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Asit Narendra Shah (HUF) |
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100 |
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Shah Narendra Virbala |
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100 |
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Shah Asit Rajul |
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100 |
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Rajendra Ramnlal Shroff (HUF) |
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100 |
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Shah Shreyas Sohil |
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100 |
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Shah Saurin Aashini |
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40100 |
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Shah Saurin Aesha |
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40100 |
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Ramanlal Chhaganlal Shah (HUF) |
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100 |
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Sheth Rajesh Shimoni |
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100 |
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Sheth Rasjesh Romil |
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100 |
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Total |
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820000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2008
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in
trading and repairs/maintenance of computer systems. |
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Products : |
·
Computer Systems,
Services and Peripherals ·
Printers ·
Key Boards ·
Software ·
Monitors ·
Other Peripherals and
Accessories |
GENERAL
INFORMATION
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Customers : |
Banking and
Finance ·
A littleworld ·
Abn amro bank ·
Alliance capital ·
Bloomberg ·
Citibank ·
Crisil ·
HDFC Bank ·
ICICI Bank ·
Indus ind Bank ·
India infoline ·
J m morgan ·
Mashreq bank ·
Stanleysocietie generale bank ·
Societie generale securities Manufacturing /
Pharma ·
Alkem labs ·
Ate ·
Bpcl ·
Blue star ·
Cabot ·
Cadila ·
Castrol ·
Fulford ·
Godavari sugar ·
J b chemicals ·
Iocl ·
Reliance ·
Rosyblue ·
Lupin labs ·
Unimark remedies ·
United phosphorous iocl ·
Videocon ·
Zydus ITES/ BPO/ Software Development ·
Accenture ·
Eserve international ·
Hexaware technologies Private Limited ·
Iflex solutions ·
Intelenet global ·
Morgan stanley ·
Ness technologies ·
Polaris (orbitech) ·
Trac mail Others ·
Barc ·
Dalal consultants ·
Dhoot entertainment ·
Global esecure ·
Gnfc (pki infrastructure) ·
Hutch ·
Isro ·
Ipr ·
Nanavati hospital ·
Nimbus ·
Prl ·
Somaiya group ·
Tata infotech |
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Bankers : |
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State Bank of India, Industrial Finance Branch, Shivsagar Estate, Dr. Annie
Besant Road, Worli, Mumbai-400018, Maharashtra, India ·
Standard Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chandrakant and Seventilal Chartered Accountant |
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Address : |
4, Fairy Manor, II Floor, 13, R. Sidhwa Marg, (Gunbow Street), Fort,
Mumbai-400001, Maharashtra, India |
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Tel No.: |
91-22-22660673/ 22661754/ 22662959 |
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Fax No.: |
91-22-22662744 |
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Name : |
Mr. Pradeep Shah Chartered Accountant |
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Address : |
4, Fairy Manor, II Floor, 13, R. Sidhwa Marg, (Gunbow Street), Fort,
Mumbai-400001, Maharashtra, India |
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Associates/Subsidiaries : |
Ashtech Infotech (Singapore) Pte. Limited Address: 2, Peach Garden, # 18-02, Meyer Road, Singapore-437603 |
CAPITAL STRUCTURE
As on 31.03.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1450000 |
Equity Shares |
Rs. 10/- each |
Rs. 14.500 Million |
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50000 |
Unclassified Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
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Total |
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Rs. 15.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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820000 |
Equity Shares |
Rs. 10/-
each |
Rs. 8.200
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.200 |
8.200 |
8.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
55.470 |
39.550 |
28.244 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
63.670 |
47.750 |
36.444 |
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LOAN FUNDS |
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1] Secured Loans |
43.448 |
19.046 |
10.287 |
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2] Unsecured Loans |
11.820 |
17.885 |
13.685 |
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TOTAL BORROWING |
55.268 |
36.931 |
23.972 |
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DEFERRED TAX LIABILITIES |
0.471 |
1.190 |
1.659 |
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TOTAL |
119.409 |
85.871 |
62.075 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.755 |
9.519 |
15.991 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
6.650 |
4.679 |
21.941 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
35.532
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13.538 |
12.781 |
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Sundry Debtors |
201.654
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106.185 |
56.251 |
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Cash & Bank Balances |
32.519
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9.811 |
6.723 |
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Other Current Assets |
0.439
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0.602 |
0.060 |
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Loans & Advances |
54.058
|
19.770 |
11.975 |
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Total
Current Assets |
324.202
|
149.906 |
87.790 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
195.213
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62.711 |
51.896 |
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Provisions |
28.985
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15.522 |
11.751 |
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Total
Current Liabilities |
224.198
|
78.233 |
63.647 |
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Net Current Assets |
100.004
|
71.673 |
24.143 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
119.409 |
85.871 |
62.075 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
1255.019 |
620.655 |
423.334 |
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Other Income |
0.000 |
54.662 |
32.405 |
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Total Income |
1255.019 |
675.317 |
455.739 |
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Profit/(Loss) Before Tax |
33.457 |
22.628 |
18.882 |
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Provision for Taxation |
12.741 |
8.517 |
6.781 |
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Profit/(Loss) After Tax |
20.716 |
14.111 |
12.101 |
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Expenditures : |
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Administrative Expenses |
0.000 |
33.469 |
24.463 |
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Purchases made for re-sale |
0.000 |
543.196 |
368.735 |
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Computers Spares and Accessories Consumed |
0.000 |
1.661 |
0.866 |
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Maintenance Sub-contract, Warranty Service
Packs and Other Service Charges |
0.000 |
20.972 |
6.236 |
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Payments to and Provision for Employees |
0.000 |
46.762 |
33.472 |
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Increase/(Decrease) in Finished Goods |
0.000 |
[0.787] |
[5.755] |
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Interest |
4.760 |
2.712 |
1.996 |
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Depreciation & Amortization |
5.384 |
4.704 |
6.844 |
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Other Expenditure |
1211.418 |
653.476 |
442.612 |
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Total Expenditure |
1221.562 |
652.689 |
436.857 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
1.65
|
2.09 |
2.66 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.67
|
3.65 |
4.46 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.92
|
14.19 |
18.19 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.53
|
0.47 |
0.52 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.39
|
2.41 |
2.40 |
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Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.92 |
1.38 |
LOCAL AGENCY
FURTHER INFORMATION
Results of Operations:
The company continued to see strong and profitable growth in the
financial year 2007-2008. The company is emerging in a global IT Market with
ability to handle large customer and complex engagements.
For the year ended 31st March, 2008, the Company reported
Total Revenue of Rs. 1255.019 Millions as against Rs. 674.928 Millions in the
previous financial year, representing and increase of 86% Net Profit (after tax) fo Rs. 20.716
Millions as compared to Rs. 14.111 Millions in the previous year and there by
register a growth of 46.81%.
Transfer to
Reserve:
The company has a transfer Rs. 2.072 Millions to the General Reserve out
of the amount available for appropriations. An amount of Rs. 49.464 Millions is
proposed to be retained in the Profit and Loss Account.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
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Charge
identification number of the modified
|
90156279 |
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Corporate
identity number of the company |
U30007MH1993PTC074939 |
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Name of the
company |
ASHTECH INFOTECH PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
G 5/7, Laxmi Woollen Mills Estate, Shakti Mill Lane, Near Mahalaxmi
Station, Mumbai-400011, Maharashtra, India |
|
Type of charge |
Immovable
Property |
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Particular of
charge holder |
State Bank of India, Industrial Finance Branch, Shivsagar Estate, Dr.
Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India |
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Nature of description
of the instrument creating or modifying the charge |
Memorandum of
Deposit of creation of further charge for overall limit where the initial
charge is created by way of mortgage by deposit of title deeds. |
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Date of
instrument Creating the charge |
09.01.2008 |
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Amount secured by
the charge |
Rs. 97.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As would be
determined by the bank form time to time. Terms of Repayment
As per sanctioned
terms and conditions of the bank Margin As per sanctioned
terms and conditions of the Bank Extent and
Operation of the charge As per sanctioned
terms and conditions of the Bank Others As per sanctioned
terms and conditions of the Bank |
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Short particulars
of the property charged |
Entire stock in
trade, i.e. stock of computers, commuter peripherals, consumable, hardare and
software, and all type in which the company deals in Book debts Vehicles |
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Date of latest modification
prior to the present modification |
09.01.2008 |
Fixed Assets:
·
Computer Systems
·
Office and Other Equipments
·
Testing Equipments
·
Furniture and Fixtures
·
Air Conditioners and Refrigerators
·
Vehicles
·
Electrical Fittings
Overview
Subject is best described as one of the most powerful force that’s been active
in the world of infotech, ever since the advent of the digital age.
Subject delivers unmatched business value to customers through a combination of
process excellence, quality frameworks and service delivery innovation. Ashtech
believes in providing the appropriate end-to-end business solutions that
leverage technology. They provide solutions for a dynamic environment where
business and technology strategies converge.
The approach focuses on new ways of business combining IT innovation and
adoption while also leveraging an organization's current IT assets.
They work with large global corporations and new generation technology
companies - to build new services and to implement prudent business and
technology strategies in today's dynamic digital environment.
Ashtech is driven by a highly trained staff operating out of a nationwide
network and practicing unique customer-centric methodologies. Together, they
offer an array of value-added solutions aimed at simplifying customers’ IT
systems, bettering enterprise efficiency and optimizing the total cost of
ownership.
The Mission
Establish the Foundation That Empowers Clients To Succeed
Ashtech mission is to build a reliable, secure, manageable,
and flexible IT infrastructure that establishes the foundation for clients to
meet their business objectives. They fulfill this mission through adherence to
the core values.
Understanding Clients' Business Requirements
Success is only measured in reaching business goals.
Ashtech’s core value is to develop an understanding the clients' business and
business drivers. And then clay the technical foundation and built the success.
Employing Best Practices and Proven Methodologies
Without an IT strategy that is focused on business value, it is not possible
for any organization to succeed. Speed and adaptability are essential
ingredients for survival. Yet, identifying and planning for changing technology
must occur while supporting daily operations. Ashtech helps clients meet this
challenge by guiding them through the entire IT life cycle - planning,
readiness, implementation, and operations.
Developing Core Competencies Through Continual Staff
Development
Ashtech focuses on providing best-of-breed services in areas of the core
competencies.
Partnership
Ashtech Infotech partners with leading technology firms to provide
comprehensive solutions. They have developed a strong coalition of support that
ensures open lines of communication are available to provide early access to
new technologies and resolve potential challenges. The strategic partnerships
provide access to additional tools and support, and increase the depth of
expertise.
Leadership:
Subject has assembled a dynamic team of highly qualified
individuals to lead the charge. Each brings their own unique strengths and
experiences, but all share a common goal - to build Ashtech into the premier
provider of IT professional services. With more than 20 combined years of
professional management and entrepreneurial experience, they are well
positioned to deliver.
They are a highly collaborative group that values the input
and contributions of the entire Ashtech Team. They believe in being open and approachable
and understand the value of staying close to the customers and partners.
They take seriously the responsibility to set the tone and they lead by
example. Uncompromising ethics in all the business dealings is a standard that
has no deviation. Warm, friendly, engaging, genuine, driven, tested and proven
- it's a team built for results.
The team comprises of resources certified/ trained in Solaris
Administration, Cisco, HP, IBM, Citrix, Windows Administration, Veritas,
Oracle/ SQL Database. In addition to this, they encourage Customers to
train our resources in inhouse application support so that they take on
additional responsibility & make more time available for the customer to
focus on their key focus areas.
Management Team
Saurin Shah
Managing Director
In 1984, he started a software company, Patel & Shah
Associates and launched their first accounting package MEHTAJI followed by
SWIFT and ENTERPRISE. In 1987, Saurin started Ashtech Systems and Services
Private Limited as a Third Party Maintenance Company.
Furthermore in 1988, Saurin tied up with TVSE to Market Indian Dot Matrix
Printers against all odds of Imported Epson Printers. First year being slow,
but from 1989 to 1994, swept the Markets of Mumbai with TVSE Products, thereby
winning five consecutive Best TVSE Dealers Awards in India.
Ashtech Infotech Private Limited was formed in November 1993, after the
reshuffle in the Management of the Ashtech Systems and Services Private Limited
The company shifted its focus to reselling more of End user Business Products
of Compaq, Digital, HP, Boca, Rad, CISCO, Bay and LG.
Under the leadership of Saurin, Ashtech today has become a true System
Integration Company with Enterprise and Solution Products from Compaq, SUN, HP,
IBM, Veritas, Microsoft, Oracle, Avaya, Cabletron, CISCO and offering
Engineering and Software Services around the above platforms.
Saurin has always believed in the services to the man kind. He has supported
various noble causes to the uplift the underprivileged. A true Rotarian by
heart, Saurin is the President of Rotary Club of Mumbai Queen’s Necklace for
the year 06-07.
Founder President and the current Chairman of Trade Association of Information
Technology (TAIT), Board Director, The Indus Entrepreneurs (TiE), Mumbai Chapter,
Committee member of Indian Merchant Chambers (IMC), Technology Wing, Saurin has
been dedicatedly working towards the betterment of the Indian Entrepreneurial
Community.
Married to Zarna, Physiotherapist by profession, Saurin has two daughters.
Vinod Menon
Director – Technology
With the Objective that “Right Fit Services/ Solutions for
Customers”, Vinod is responsible for Adoption of Appropriate Technology
Solutions that Ashtech Infotech desires to offer to its Customers to address
their Operational Pain points Working with the Services Team towards improving
Service Level and strategizing towards enhancing Services Offerings for the
customers Ensuring skill enhancement of the Ashtech Technical team from time to
time Vinod’s association with Ashtech Infotech dates back to the year 1989.
During his career of about 20 years, Vinod has also held position of Heading
Services Operations for an All India Infrastructure Management Services company
and as the Technology Head for a Financial Services organization.
Vinod holds a Post Graduate Diploma in Computer System Analysis, Design an
Applications and an Diploma in Computer Technology.
B Shankar
President
Prior to Eftia, Shankar was Head of Sales at MCS Software Solutions
Limited; an organization specializing in implementing ERP solutions in India as
well as in many countries abroad.
He previously served for almost 10 years at Fujitsu ICIM
Limited, the organization which held the position among the top five Indian IT
companies. Holding various senior Sales positions during that decade; Shankar
helped grow the company’s revenues at various regions that he had managed. He
has also worked with Zenith Computers & Cadila group prior to taking up the
assignment at Fujitsu ICIM.
Shankar holds a Bachelor’s (Honours) degree in Statistics
and a Post-graduation Masters in Marketing 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 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. 48.71 |
|
UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
