MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
BEST PAPER MILLS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
2 Ram Niwas Pranje ‘B’ Scheme, Road 3, Vile Parle (East), Mumbai-400057,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
26.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-93122 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U21000MH1995PTC093122 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMB06421C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Paper |
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 1400000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory
track. Trade relations are fair. Business is active. General financial position
is satisfactory. No complaints have been heard. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Manoj Rathod |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-982023585 |
|
Date : |
10.12.2008 |
LOCATIONS
|
Registered Office : |
2 Ram Niwas Pranje ‘B’ Scheme, Road 3, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
|
Tel. No.: |
91-22-26135358 |
|
Mobile No.: |
91-9820232585 |
|
Fax No.: |
91-22-26135359 |
|
E-Mail : |
|
|
Area : |
550 sq.ft (Owned) |
|
|
|
|
Factory : |
Plot No. 57, F Ghala, Phase- 1, GIDC Vapi-396195, Gujarat, India |
|
Tel. No.: |
91-260-2432991 |
|
Fax No.: |
91-260-2428155 |
|
Area : |
35 Acres (Owned) |
|
|
|
|
Factory 2 : |
Plot No. 57/FGH/B-2, G.I.D.C, 1st Phase, Vapi-396195,
Gujarat, India |
DIRECTORS
|
Name : |
Mr. Ramesh K Shah |
|
Designation : |
Managing Director |
|
Address : |
502, Manav Mandir, Sarvodya Nagar, Jain Road, Mulund (West),
Mumbai-400080, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.07.2007 |
|
|
|
|
Name : |
Mr. Ketan K Shah |
|
Designation : |
Whole-time-Director |
|
Address : |
502, Manav Mandir, Sarvodya Nagar, Jain Road, Mulund (West),
Mumbai-400080, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.07.2007 |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Rathod |
|
Designation : |
Accounts Manager |
|
Mobile No. : |
91-982023585 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Ramesh Shah |
|
43100 |
|
Ketan Shah |
|
35100 |
|
Jigna K Shah |
|
25000 |
|
Keshav Shah HUF |
|
20000 |
|
Milkeshavji Shah |
|
15000 |
|
Ketan Shah HUF |
|
17500 |
|
Pushpaben Shah |
|
30000 |
|
Keshavji Shah HUF |
|
32500 |
|
Sheetal M Haria |
|
1052400 |
|
Yash Jewels Limited |
|
25000 |
|
Riddish Holding Private Limited |
|
30000 |
|
Star Dio Sounce Private Limited |
|
20000 |
As on 21.03.2006
|
List of Allottees |
|
No. of Shares Allotted |
|
Sheshth Leasing and Finance Limited |
|
50000 |
|
Rahul Vijay Bankda |
|
50000 |
|
Javada India Impex Limited |
|
30000 |
|
Lexus Infotechl Limited |
|
20000 |
|
Vanguard Jawales Limited |
|
35000 |
|
Yash Jeweels Limited |
|
25000 |
|
Riddish Holding Private Limited |
|
30000 |
|
Reynold Peterochemicals Private Limited |
|
20000 |
|
Star Bio Source Private Limited |
|
20000 |
|
Vijay Project Consultant |
|
20000 |
|
Engginerer Profefessional Co operative Limited |
|
20000 |
|
Adobe Hotels Limited |
|
20000 |
|
Kush Hindustan Entertainment Limited |
|
25000 |
|
Real Gold Trading Company Private Limited |
|
20000 |
|
Hema Trading Company |
|
15000 |
|
Plasticon Industries Limited |
|
15000 |
|
Michigan Traders Private Limited |
|
17000 |
|
Kalpana Steelcon Private Limited |
|
10000 |
|
Shree Gurjari Industries Limited |
|
20000 |
|
Alka Diamond Industry Limited |
|
30000 |
|
Jajodia Textiles Mills Private Limited |
|
20000 |
|
Shah Keshavji Bharmal |
|
500 |
|
Total |
|
512500 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Paper |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material (Waster Paper) |
||||
|
Countries : |
·
USA ( 80 %) ·
Gulf Countries ( 20%) ·
European Countries |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Credit ( 30 Days) |
||||
|
|
|
||||
|
Purchasing : |
L/C ad DP |
PRODUCTION STATUS
|
Particulars |
Unit |
Licenced Capacity |
Installed
Capacity |
Actual
Production |
|
Kraft Paper |
MT |
108000 |
132000 |
85619.488 |
GENERAL
INFORMATION
|
No. of Employees : |
254 (Office 4, Factory 250) |
|
|
|
|
Bankers : |
·
State Bank of India, Commercial Branch, Paramisiddhi Complex,
Elisbridge, Ahmedabad-380006, Gujarat, India ·
Bank of Maharashtra, Andheri (West), Mumbai-400058, Maharashtra, India ·
Central Bank
of India, Shyvchhay Compound, Mathuradas, Visanjit Road, Andheri (East),
Mumbai-400069, Maharashtra, India ·
Punjab
National Bank, P. N. B House, Sir P.M. Road, Fort Branch, Mumbai-400001,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunderji Gosar and Company Chartered Accountant |
|
Address : |
301, Hind Rajasthan Building, 95, Dadasaheb Phalke Raod, Near Dadar Railway
Station, Mumbai-400014, Maharashtra, India |
|
Tel. No.: |
91-22-24113441 |
|
|
|
|
Holding Company: |
Vanguard Jawales Limited |
|
|
|
|
Associates/Subsidiaries : |
Rohit Plastopack Private Limited Address: 2 Ram Niwas Pranje ‘B’ Scheme, Road 3, Vile Parle (East),
Mumbai-400057, Maharashtra, India Line of Business: Trading |
CAPITAL STRUCTURE
As on 12.07.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12500000 |
Equity Shares |
Rs. 10/- each |
Rs. 125.000 Millions- |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9757230 |
Equity Shares |
Rs. 10/-
each |
Rs. 97.572
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
97.572 |
97.572 |
97.572 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
189.877 |
159.621 |
137.312 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
287.449 |
257.193 |
234.884 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
208.474 |
223.194 |
188.466 |
|
|
2] Unsecured Loans |
128.453 |
90.902 |
37.236 |
|
|
TOTAL BORROWING |
336.927 |
314.096 |
225.702 |
|
|
DEFERRED TAX LIABILITIES |
28.967 |
25.603 |
21.401 |
|
|
|
|
|
|
|
|
TOTAL |
653.343 |
596.892 |
481.987 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
307.751 |
306.084 |
248.254 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.483 |
10.983 |
1.255 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
177.985
|
148.287 |
115.661 |
|
|
Sundry Debtors |
279.253
|
245.116 |
165.750 |
|
|
Cash & Bank Balances |
22.144
|
17.438 |
14.661 |
|
|
Other Current Assets |
12.128
|
8.947 |
4.712 |
|
|
Loans & Advances |
71.795
|
36.405 |
31.619 |
|
Total
Current Assets |
563.305
|
456.193 |
332.403 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
209.973
|
159.242 |
81.454 |
|
|
Provisions |
18.223
|
17.126 |
18.471 |
|
Total
Current Liabilities |
228.196
|
176.368 |
99.925 |
|
|
Net Current Assets |
335.109
|
279.825 |
232.478 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
653.343 |
596.892 |
481.987 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
|
Sales Turnover and Other Income |
|
1634.710 |
1391.821 |
|
|
Total Income |
|
1634.710 |
1391.821 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
45.560 |
35.823 |
|
|
Provision for Taxation |
|
11.747 |
8.544 |
|
|
Profit/(Loss) After Tax |
|
33.813 |
27.279 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
|
298.893 |
NA |
|
|
Stores & Spares |
|
0.791 |
NA |
|
|
Others |
|
0.726 |
NA |
|
Total Imports |
|
300.410 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
|
46.206 |
38.182 |
|
|
Other Expenditure |
|
1542.944 |
1317.816 |
|
Total Expenditure |
|
1589.150 |
1355.998 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
2.07
|
1.96 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.79
|
2.57 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.23
|
4.69 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.14 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.27
|
1.91 |
1.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.47
|
2.59 |
3.33 |
LOCAL AGENCY
FURTHER INFORMATION
Financial Results:
|
Particulars |
Year Ened (Rs. In Millions) |
|
|
|
31.03.2008 |
31.03.2007 |
|
Sales and Other Income |
1634.710 |
1391.821 |
|
Less: Expenditure |
1542.943 |
1317.815 |
|
Profit Before Depreciation |
91.767 |
74.005 |
|
Less: Depreciation |
46.206 |
38.182 |
|
Profit Before Tax |
45.560 |
35.823 |
|
Less: Provision For Tax |
11.747 |
8.544 |
|
Profit After Tax |
33.813 |
27.279 |
|
Add: Deferred Tax Reversed |
0.000 |
0.000 |
|
Less: Deferred Tax Liability |
3.364 |
4.202 |
|
Less: Fringe Benefit Tax |
0.193 |
0.179 |
|
Net Profit |
30.256 |
22.898 |
|
Add: Balance Brought Forward |
93.968 |
71.658 |
|
Balance Carried Forward |
124.224 |
93.968 |
Performance
Review:
The working result for the year has shown marked all around improvement.
The sales of the company have increased to Rs. 1605.968 Millions compared to
Rs. 1388.576 Millions in the previous year, showing the growth fo 15.66%.The
production of the Kraft paper during the year under report was 85619.488 MTs.
Compared to 78372.089 Mts. Of last year showing growth of 9.25%. The Net Profit
of Rs. 30.256 Millions compared to Rs. 22.898 Millions. This has been achieved
inspite to stiff competition form well-established players in the industry.
Future prospects
of the company:
The company expects to perform much better in the current year. The book
order position of the Company is very comfortable. Keeping in view the current
scenario the Company should do very well in the current year.
Trade References:
·
Hindustan Lever
·
Parle Products
·
Reliance Industries
Bankers Charges
Report as per Registry
|
Name of the company |
BEST PAPER MILLS PRIVATE LIMITED |
|||||||||||||||||||||||||||||||||||
|
Presented By |
Mr. Ketan K Shah
(Director) |
|||||||||||||||||||||||||||||||||||
|
1) Date and description of instrument creating the change |
13.01.2002 (1)
Agreement of Book-debts to secure demand overdraft (2) Agreement of
Hypothecation- to secure demand letter of credit (3) Agreement of
Hypothecation to secure demand cash credit against goods at 1301.2002 (All the above
agreement constitute single charge) |
|||||||||||||||||||||||||||||||||||
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 45.000
Millions |
|||||||||||||||||||||||||||||||||||
|
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 |
All the Borrower
present and future book debts, outstanding, moneys, receivables, investments,
rights and assets (Except property effectively otherwise hypothecation or
charged to the Bank) All tangible
movable property such as products stock-in-trade and goods of the borrower
which now or hereafter form time to time during the security shall brought
in. stored or be in or about the premises, warehouses or any whereelse or
godowns of the Borrowers in at Plot No. 57 FJH/A, 1st Phased,
GIDC, Vapi-396195, Gujarat State or any where else. |
|||||||||||||||||||||||||||||||||||
|
4) Gist of the terms and conditions and extent and operation of the charge. |
To secured due
repayment and discharge of loan together with interest as under: Fund Based Limit:
|
|||||||||||||||||||||||||||||||||||
|
5) Name and Address and description of the person entitled to the charge. |
Central Bank of
India, Shyvchhay Compound, Mathuradas, Visanjit Road, Andheri (East),
Mumbai-400069, Maharashtra, India Now in consortium
with: 1. Punjab
National Bank, P. N. B House, Sir P.M. Road, Fort Branch, Mumbai-400001,
Maharashtra, India 2. Bank of
Maharashtra, 118/119, Moti Baug, Sankar Jyot Building, S.V Road, Andheri
(West), Mumbai-400058, Maharashtra, India |
|||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument modifying the charge |
Memorandum of
Entry dated 10.09.2005 |
|||||||||||||||||||||||||||||||||||
|
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. |
Vide current
Forth Modification the company has provided additional security to secure the
present financial facility provided by the Central Bank in consortium with
Punjab National Bank and Bank of Maharashtra to the company for total Rs.
259.000 Millions |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U21000MH1995PTC093122 |
|
Name of the
company |
BEST PAPER MILLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
2 Ram Niwas Pranje ‘B’ Scheme, Road 3, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Paramisiddhi Complex,
Elisbridge, Ahmedabad-380006, Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Deposit of Title deeds of the immovable properties |
|
Date of
instrument Creating the charge |
01.03.2008 |
|
Amount secured by
the charge |
Rs. 445.900
Milions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For SBI TL SBAR +
1.50% Fro SBI WC SBAR +
1.00% For BOM TL BPLR +
0.75% For BOM WC BPLR +
0.75% Terms of
Repayment Repayment of TL
Rs. 64.500 Millions in 12 equal installments of Rs. 5.100 Millions each and
13th installments of Rs. 3.300 Millions repayment commencing form
December, 2006, for the new term loan of Rs. 30.000 Millions 10 qtly installments
of Rs. 2.700 Millions each and 11th qtly installment of Rs. 3.000
Millions repayment starting form March, 2007. TL BOM of Rs. 36.400 Milions
repayable in qtly installments of Rs. 1.800 Millions and TL of Rs. 30.000
Millions repayable in 12 qtly installment of Rs. 2.500 Millions cash credit
repayment on demand Margin Term Loan 25% Raw Material 25% Finished goods
25% Receivables ( 90
days) 50% Letter of credit
10% Extent and
Operation of the charge Pari passu first
charge for the O/s Term Loan of Rs. 94.500 Millions of SBI and Rs. 66.400
Millions of BOM and Second Pari Passu charge for the working capital
facilities with SBI Rs. 185.000 Millions and BOM Rs. 100.000 Millions over
the properties mortgaged. |
|
Short particulars
of the property charged |
Flat No. 64/1282
and 64/1283 of GHB at Plot No. H-6 and H-7, GIDC, Vapi Flat No. D-404,
Shri Siddhi Co- operative Society, Plot No. 415, GIDC Area, Vapi Taluka –
Killa, Pardi, Distric Valsad GIDC Leasehold
Plot No. FGH/B-2 located at GIDCm Vapi Freehold land
bearing survey No 773/7. 772/7, 772/5, 772/5, 772/4, 772/1, 761/7, 761/8,
761/10, 762/1, 773/2, 772/3, 773/1, 763/34/p, 762/2/p, 763/28, 761/5, 761/11,
761/12, 761/13/p Village Vapit Taluka Killa Pardi, Valsad con. Survey No.
761/5 |
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 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
57 |
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 |
|