MIRA
INFORM REPORT
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Report Date : |
17.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLD PLUS TOUGHENED GLASS LIMITED |
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Registered Office : |
206, Kamdhenu CHS
Building No. 4, Lokhandwala Complex, Andheri (West), Mumbai – 400053,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
29.10.1999 |
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Com. Reg. No.: |
11-122461 |
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CIN No.: [Company
Identification No.] |
U26100MH1999PTC122461 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMG07841B |
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PAN No.: [Permanent
Account No.] |
AABCG0389C |
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Legal Form : |
A closely held public
limited liability company |
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Line of Business : |
Manufacturer and Exporter of Pvb Laminated Glass, Bullet-Proof Glass, Ceramic Printed Glass |
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 390000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a well
– established and reputed company. It is faring well. Financial position is
satisfactory. Trade relations are fair. Payments are reported as slow. The company can be considered normal for
business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Lalit Vadve |
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Designation : |
Group Head Account and Finance Manager |
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Contact No.: |
91-9850158010 |
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Date : |
15.12.2008 |
LOCATIONS
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Registered Office : |
206, Kamdhenu CHS
Building No. 4, Lokhandwala Complex, Andheri (West), Mumbai – 400053,
Maharashtra, India |
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Tel. No.: |
91-22-26345507/ 47000500 |
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Mobile No.: |
91-9350158010 |
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Fax No.: |
91-11-27866378 |
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E-Mail : |
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Website : |
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Area: |
Owned |
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Corporate Office : |
G -192, Prashant Vihar, Delhi-110 085, India |
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Tel. No.: |
91-11-27564007 / 27565277 / 27565947 / 26660318 |
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Fax No.: |
91-11-27866378 |
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Mobile No.: |
91-9350158019 |
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Factory : |
Village –
Liwaspur, Bhalgarh, District Sonepat, Haryana, India |
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Tel No.: |
91-11-47000500 |
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Fax No.: |
91-11-27860378 |
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Area: |
Owned |
DIRECTORS
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Name : |
Mr. Suresh Tyagi |
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Designation : |
Director |
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Address : |
H 4/26, Sector –II, Rohini, Delhi, India |
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Date of Appointment : |
23.06.2000 |
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Name : |
Mr. Philips Soares |
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Designation : |
Director |
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Address : |
Bandra Beach View
Co-operative Society, Flat No.12 , 2nd Floor, 74, Chimbai Road,
Bandra, Mumbai, Maharashtra, India |
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Date of Appointment : |
26.11.1999 |
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Name : |
Mr. Pratap Rangwani |
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Designation : |
Director |
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Address : |
I.K. 29, Ajay Nagar, Ajmer, Rajasthan, India |
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Date of Appointment : |
29.10.1999 |
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Name : |
Mr. Peter S. D’Cruz |
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Designation : |
Director |
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Address : |
Flat No. 202,
Joanna Manuel Gousalves Road, Bandra [West], Mumbai – 400050, Maharashtra,
India |
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Date of Appointment : |
29.10.1999 |
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Name : |
Mrs. Meynell Sheila Soares |
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Designation : |
Director |
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Address : |
Bandra Beach View
Co-operative Society, Flat No.12 , 2nd Floor, 74, Chimbai Road,
Bandra, Mumbai, Maharashtra, India |
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Date of Appointment : |
29.11.1999 |
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Name : |
Mr. Subhash Tyagi |
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Designation : |
Director |
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Address : |
H- 4/26, Sector II, Rohini, Delhi – 110085, India |
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Date of Birth/Age : |
01.01.1957 |
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Date of Appointment : |
12.11.2005 |
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CIN of the Company : |
U26109DFL2005PLC143705 |
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Name of the Company : |
Gold Plus Glass Industry Limited |
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Designation: |
Director |
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CIN of the Company : |
U26109DL2004PLC124145 |
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Name of the Company : |
Gold Plus Himachal Safety Glass limited |
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Designation: |
Director |
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CIN of the Company : |
U26101DL1991PLC044119 |
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Name of the Company : |
Gold Plus Glasses India Limited |
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Designation: |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(as on 31.03.2007)
|
Names of
Shareholders |
No. of Shares |
|
Subhash Tyagi |
59140 |
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Suresh Tyagi |
29860 |
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Peter S. D’Cruz |
10 |
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Pascal D’Souza |
10 |
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Gomati Nayagam |
10 |
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Philips Soares |
109970 |
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Pratap Rangwani |
108990 |
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Pooja Pratap
Rangwani |
5 |
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Arti Pratap
Rangwani |
5 |
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Total |
300000 |
Equity Share Breakup (Percentage of Total Equity)
As on 31.03.2007
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Category |
Percentage |
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Directors or relative of directors |
99.95 |
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Other top fifty (50) shareholders |
0.05 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Pvb Laminated Glass,
Bullet-Proof Glass, Ceramic
Printed Glass |
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Products : |
Toughened Glass
or Toughened Glass Sheet |
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Exports : |
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Products : |
PVB Laminated Glass and Bullet – Proof Glass |
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Countries : |
·
Pakistan ·
Bangladesh ·
Sri Lanka ·
More |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Japan ·
China ·
Germany |
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Terms : |
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Selling : |
Depends |
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Purchasing : |
Depends |
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PRODUCTION
STATUS
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Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
Actual Production |
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Toughened Glass |
Sq. Mtrs. |
190080 |
190080 |
149275 |
GENERAL
INFORMATION
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No. of Employees : |
1602 (Office 100,
Factory 1500 and Branches 2) |
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Bankers : |
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Facilities : |
Secured Loan The Bank of Rajasthan Limited – Rs. 19.200 Hire Purchase Loan ABN Amro Bank – Rs. 0.955 Cholamandlam Investment and Financial
Company Limited – Rs. 0.534 ICICI Bank – Rs. 0.683 Millions Reliance Industries Limited – Rs. 0.015 HDFC Bank – Rs. 0.925 Millions ICICI Bank – Rs. 0.164 Millions Total – Rs. 22.481 Millions |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. B. Vasmate and
Company Chartered
Accountants |
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Address 1: |
19/21, Bombay
Mutual Chambers, 2nd Floor, Ambalal Doshi Marg, Fort, Mumbai – 400023,
Maharashtra, India |
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Address 2: |
207, Kamdhenu CHS
Building, 4 Lokhandawala Complex, Andheri West, Mumbai – 400 053,
Maharashtra, India |
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Tel. No.: |
91-22-22631297 /
26333995 / 56789500 |
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Mobile No.: |
91-982102520 |
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Fax No.: |
91-22-26345507 |
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E-Mail : |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on
31.03.2007):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs. 10/- each |
Rs. 70.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
3300000 |
Equity Shares |
Rs. 10/- each |
Rs.33.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
33.000 |
33.000 |
30.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
43.685 |
34.650 |
25.186 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
76.685 |
67.650 |
55.186 |
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LOAN FUNDS |
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1] Secured Loans |
19.130 |
19.319 |
22.482 |
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2] Unsecured Loans |
21.443 |
26.942 |
24.442 |
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TOTAL BORROWING |
40.573 |
46.261 |
46.924 |
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DEFERRED TAX LIABILITIES |
5.149 |
5.882 |
6.755 |
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TOTAL |
122.407 |
119.793 |
108.865 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
46.199 |
50.861 |
55.815 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
14.044
|
17.597 |
16.944 |
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Sundry Debtors |
89.587
|
56.904 |
51.086 |
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Cash & Bank Balances |
0.658
|
0.305 |
0.621 |
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Other Current Assets |
1.653
|
4.429 |
2.213 |
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Loans & Advances |
17.108
|
7.722 |
13.810 |
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Total
Current Assets |
123.050
|
86.957 |
84.674 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
33.071
|
8.850 |
20.095 |
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Provisions |
13.939
|
9.399 |
11.529 |
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Total
Current Liabilities |
47.010
|
18.249 |
31.624 |
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Net Current Assets |
76.040
|
68.708 |
53.050 |
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MISCELLANEOUS EXPENSES |
0.168 |
0.224 |
0.000 |
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TOTAL |
122.407 |
119.793 |
108.865 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.14
|
0.95 |
1.42 |
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Current Ratio (Current Asset/Current Liability) |
|
2.62
|
4.77 |
2.68 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Name of the company |
GOLD
PLUS TOUGHENED GLASS LIMITED |
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Presented By |
Mr. Subhash Tyagi |
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1) Date and description of instrument creating the change |
22.03.2003, Agreement of Hypothecation of Machinery, security for all advances and loans and letter of continuity extending the coverage of equitable mortgage of factory land and building over the term loan of Rs.12.500 Millions |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 12.500 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of all plant and machinery purchased out of loan amount as per list enclosed and equitable mortgage of factory land and building situated at village Liwaspur, Bahalgarh District – Sonjepat, Haryana |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest 0.5% above banks PLR i.e. 13.5% |
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5) Name and Address and description of the person entitled to the charge. |
The Bank of Rajasthan Limited, 82 Janpath, New Delhi -110 001, India |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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Corporate
identity number of the company |
U26100MH1999PTC122461 |
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Name of the
company |
GOLD PLUS
TOUGHENED GLASS LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
206, Kamdhenu CHS
Building No. 4, Lokhandwala Complex, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
This form is for |
Creation of
Charge |
|
Type of charge |
· Immovable Property · Book Debts · Movable Property · Floating Charge · Others |
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Particular of
charge holder |
Indian Bank Address: G -41,
Connaught Place, Delhi -110 001, India E-Mail: ibnewdelhimain@vsnl.net |
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Nature of
instrument creating charge |
· No objection Certificate from the first charge holder · D -82 second charge on immovable properties · D-83 Hypothecation agreement second charge on Machineries and Movables · Agreement of guarantee · Board Resolution. |
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Date of
instrument Creating the charge |
08.10.2007 |
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Amount secured by
the charge |
Rs. 400.000
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest BPLR +TP 0.25%
i.e. 12.75% on daily balances with monthly rests. Terms of
Repayment 18 quarterly
installments commencing from January 2009 Extent and
Operation of the charge 100 % Others The second charge
and corporate guarantee is in respect of loan facilities sanctioned by Indian
Bank to M/s Gold Plus Glass Industry Limited. |
|
Description of
the property charged indicating whether it is a charged on |
No Objection
certificate of the Bank of Rajasthan Limited |
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Date of
Acquisition of the property |
08.10.2007 |
|
Amount of the
charge |
Rs. 400.000
millions |
|
Particulars of
the property charged |
Factory Land and
Building comprising of plot area of 6228 Sq.Mtrs situated at village
Liwaspur, District Sonipat (Haryana) Comprised in Kila No. 20/14/1/1/13-p,
14/1/2, 14/1/1/2/3-p, 14/2, 15/2/2/1, 15/2/2/2, 16/2/2/2-p, 20/17/1-p ,
17/2/2/1-p Hypothecation of
all other fixed assets and current assets (present and future) |
|
Particulars of
the present modification |
Factory Land and
Building comprising of plot area of 6228 Sq.Mtrs situated at village
Liwaspur, District Sonipat (Haryana) Comprised in Kila No. 20/14/1/1/13-p, 14/1/2,
14/1/1/2/3-p, 14/2, 15/2/2/1, 15/2/2/2, 16/2/2/2-p, 20/17/1-p , 17/2/2/1-p Hypothecation of
all other fixed assets and current assets (present and future) |
OTHER
INFORMATION:-
Expansion
The company had installed
vertical washing machine imported from China during the year. It had immensely
improved the washing and drying quality of the glass
Business
Outlook
The business
prospects of the Glass processing industry is very bright with the sharp rise in
infrastructural development and use of various types of glasses in
commercial/shopping complexes/malls, hotels, apartment and residential building
etc. However the competition is also hottening up with the coming up of several
glass processing units in various parts of India
Cost
Reduction
The company is
constantly making efforts for reduction in the various elements of the cost
through measures such as proper manpower scheduling production scheduling
reduction in idle time strict implementation of preventive. During the year
company had also got increased the sanctioned load of HSEB CONNECTION FROM 250
kw TO 1500 kw. The increases in HSEB load had reduced the dependence on diesel
gensets. Ultimately reducing the
power cost. Reduction in power cost had served as a cushion against the
fluctuation in cost of Raw Materials.
FIXED ASSTES:-
· Land,
· Building,
· Vehicle,
· Furniture and Fixtures,
· Computers,
· Generator and
· Automatic Glass Cutting Table.
WEBSITE DETAILS:-
Gold Plus Group
Profile :-
Gold Plus a one stop solution to customer on all types of glasses was
founded in 1985 with the aim of providing the best services & high quality glass
products for the local and regional market.
The constant focus on developing new International quality products has made it possible for Gold Plus to help architects & designer to push for further creativity in their design.
While the use of glass represents that of prestige, its use has brought about
many drawbacks & problems, such as high consumption of energy, safety,
concerns caused by weak structures & deterioration in the quality of indoor
hygiene. In recent years Gold Plus have produced new generations of glass,
which are environmentally friendly, safe, strong, smart and aesthetically
pleasing. Some of these Gold Plus products have been successfully applied to
many prestigious projects.
They at gold plus aim to provide high quality glass for the country.
They believe that quality is not a distinction but a continuous process. The
quality of the products has thereby improved manifolds since the last 15 years
but the way of utilizing the current resources optimally as well as by
importing machinery, which enhances the quality of the product.
Gold Plus aims at complete client satisfaction
along with the best results in terms of delivery paired with packaging.
NEWS:
Foundation Stone Laying Ceremony of Gold Plus Industrial Estate and The First
Float Glass Production Line of Gold Plus Glass Industry Limited
- A Report
The production of the first float glass line of Gold Plus Glass Industry
Limited in Roorkee is slated to begin by June 2007. The estimated cost of this
project is approximately Rs.400 Crores in the first phase. The capacity of this
float glass production line would be 460tonnes per day. This float glass
production line will produce clear and green tinted glass from 2 to 19mm
thickness, which will be of world class quality and till now had to be imported
in India. More than 85% of the machineries for this plant are from Europe and
America and Yaohua Glass Group - the well known company of China for float
glass is the technical collaborator with Gold Plus Group for this project.
This expansion plan of Gold Plus Group was announced by none other than
the Chairman and Managing Director of the Group, Mr. Subhash Tyagi on Saturday,
4th November, 2006 in the foundation stone laying function ceremony
of Gold Plus Industrial Estate and the First Float Glass Production Line of
Gold Plus Glass Industry Limited. The Hon’ble Chief Minister of Uttaranchal Mr.
Narayan Dutt Tiwari was the Chief Guest who unveiled the foundation stone in
the ceremony held at the site. The function was presided over by Mr. Subhash
Tyagi, the CMD of Gold Plus Group
The Chief Minister arrived at the venue at Thitola (Roorkee) in a
helicopter and was received by Mr. Subhash Tyagi, Mr. Suresh Tyagi by
presenting bouquets of flowers. Ms. Christina was also introduced to the Chief
Minister. From the helipad, the Chief Minister followed by Mr. Tyagi and others
proceeded towards the foundation stone. Here the Chief Minister was welcomed
with a traditional Aarti and Tikka, he then pulled the curtain and
unveiled the foundation stone.
The Chief Minister was welcomed with a loud applause by more than
three thousand people present at the main venue. The Chief Minister spent a few
minutes in greeting the crowd and bestowing his blessings on the children
present in the crowd.
This activity was followed by the Chief Minister and the other
guests convening on the stage where they lighted a lamp to commemorate the
occasion.
Speaking on the occasion, the CMD of the Group welcomed Mr. N.D. Tiwari,
his foreign partners and other esteemed guests. He also said that this float
glass production line is a very big dream for him which is now being realized
with the hard work and continuous efforts of himself and all the employees
associated with the group. He also mentioned that, the path to reach this
pinnacle was not easy and he faced many hurdles on the way. He remembered the
time when he had come to the nation’s capital with only Rs.5 in his pocket and
taken up a meager job and how from the starting of Rs.5 he is now the owner of
a prestigious group with a turnover of over one hundred and twenty five crores.
He also appreciated the efforts of the Government of Uttaranchal, especially
the Chief Minister Mr. N. D. Tiwari, Mr. R. K. Sudhanshu – DM Haridwar, Mr.
Abhinav Kumar – SSP Haridwar, who had gone out of the way to help the Gold Plus
Glass Industry to establish in Roorkee. Mr. Tyagi also announced that an old
age home, a school and a hospital would be established in Gold Plus Industrial
Estate to facilitate not only the employees of Gold Plus Group but also of the
neighboring villages
The Hon’ble Chief Minister, Shri N.D. Tiwari also addressed the
gathering by saying that industries and agriculture are the backbones of the
Indian economy and they should be encouraged. Nowadays, more and more
multinationals are establishing their units in India and the day is not far
when all international standard goods shall be manufactured in India. He also
congratulated the Yaohua Group of China for their collaboration with Gold Plus
Group and mentioned that China has progressed by changing the work culture and
it is very important that the work culture in India also changes for
development of the Industries.
Mr. Wang Changwen, GM, Yaohua Group also spoke about his company Yaohua
Group in China and mentioned that he is very honoured and happy to be the
collaborator of Gold Plus Group. He also mentioned that this up coming factory
would be one of the best float glass production lines of
India
Mr. Subhash Tyagi, CMD Gold Plus Group presented a momento to the Chief
Minister to commemorate the occasion. Mr. Wang Changwen also presented a
momento to the Chief Minister. Mr. Suresh Tyagi, Director Gold Plus Group
presented momentos to the DM – Haridwar and the SSP.
The latest edition of the in-house newsletter of Gold Plus Group “Gold
Plus News” was also presented to the public by Hon’ble Chief Minister Mr.
Narayan Dutt Tiwari on this occasion.
Afterwards, Mr. Suresh Tyagi thanked the Chief Minister and all esteemed
guests for their presense. He also thanked the work force of Gold Plus Group
for their contribution in organizing the function.
After the function, the Chief Minister took a round of the under
construction site along with the CMD and Director.
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 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.47.82 |
|
UK Pound |
1 |
Rs.73.08 |
|
Euro |
1 |
Rs.65.56 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|