MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMKETTE ANALYTICS LIMITED |
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Registered Office : |
B – 27, 3rd Floor, 13 Sewree, G D Ambekar Marg, Sri Ram Industrial
Estate, Wadala, Mumbai – 400031, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.10.2000 |
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Com. Reg. No.: |
129256 |
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CIN No.: [Company
Identification No.] |
L52311MH2000PLC129256 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM18836G |
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PAN No.: [Permanent
Account No.] |
AACCA8621N |
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Legal Form : |
Closely Held Public Limited Liability Company |
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Line of Business : |
Distribution and Support for Analytical Instruments, Biotechnology and
Separation Sciences. |
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 54984 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company having
satisfactory track. Directors are reported as experienced and respectable
businessmen. Trade relations are fair. Business is active. Payments are
reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
B – 27, 3rd Floor, 13 Sewree, G D Ambekar Marg, Sri Ram Industrial
Estate, Wadala, Mumbai – 400031, Maharashtra, India |
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Tel. No.: |
91-22-24161544/47 |
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Fax No.: |
91-22-24181770/24171473 |
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Toll Free : |
1-800-226-111 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mrs. Priti Sanjay Mehta |
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Designation : |
Director |
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Address : |
521/A, 1st Floor, Matunga, Mumbai – 400019, Maharashtra,
India |
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Date of Birth/Age : |
03.11.1972 |
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Date of Appointment : |
19.10.2000 |
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Name : |
Mrs. Dhairya Ramesh Ashar |
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Designation : |
Director |
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Address : |
242, Ashar Villa, Sion (East), Mumbai – 400022, Maharashtra, India |
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Date of Appointment : |
27.10.2000 |
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Name : |
Mrs. Kinnari Manish Mehta |
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Designation : |
Director |
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Address : |
521/A, 1st Floor, Matunga, Mumbai – 400019, Maharashtra,
India |
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Date of Birth/Age : |
10.11.1968 |
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Date of Appointment : |
27.10.2000 |
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Name : |
Mrs. Akta Jayesh Mehta |
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Designation : |
Director |
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Name : |
Mr. Parag Ishwar Kothi |
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Designation : |
Director |
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Address : |
2, Krishna, R. A. Kidwai Road, Kings Circle, Mumbai – 400019,
Maharashtra, India |
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Date of Birth/Age : |
20.12.1970 |
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Date of Appointment : |
09.11.2006 |
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Other Directorship Companies : |
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Name : |
Logan Instruments India Private Limited |
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Designation : |
Director |
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CIN of Company : |
U51507MH2003PTC139724 |
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Name : |
Sunjay Biotech Solutions Private Limited |
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Designation : |
Director |
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CIN of Company : |
U74999MH2002PTC136521 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mrs. Priti Sanjay Mehta |
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10 |
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Mrs. Akta Jayesh Mehta |
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10 |
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Category |
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Percentage |
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Bodies Corporate |
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79.00 |
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Directors or relatives of Directors |
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17.00 |
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Other top fifty Shareholders (Other than listed above) |
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4.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Distribution and Support for Analytical Instruments, Biotechnology and
Separation Sciences. |
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Products : |
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GENERAL
INFORMATION
|
Suppliers : |
·
Euro Multivision Limited, Kutch ·
Laboratory Supplies Company ·
Lawence and Mayo (India) Private Limited ·
M P Pollution Control Board ·
M Shah Trading Company ·
Pawan Herbals Private Limited ·
Renuka Adhesives Private Limited ·
Sakata Inks Private Limited ·
WELSPUN Gujrat Stani Rohren Limited ·
A P Cargo Movers ·
Apey Enterprises ·
B S Enterprises ·
Brue Dart Express Limited ·
Canon India Private Limited ·
Dipson Enterprises ·
Es Bee Info Services ·
J M Mathuria and Associates ·
Lapha Pack ·
N k Traders ·
Namaste Telecom ·
Phenomenex Insurance ·
Rajesh Trading Corporation ·
S A Mehta ·
S K Enterprises ·
Sagar Enterprises ·
Sai Shipping Services ·
Samkit Advertising ·
Saras Design ·
Sevak Publiations ·
Shimadzu (India) Private Limited ·
Scientific Instrument Mfg Company ·
Sejal Trades |
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Customers : |
·
Aarti Drugs Limited, Tarapur ·
Aarti Healthcare Limited ·
Aarti Industrial Limited ·
Advy Chemicals ·
Ajenta India Limited ·
Arvind Remedies Limited ·
B A R C (Dps) ·
Bayen India Limited ·
Bal Pharma Limited ·
Balmer Lawrie and Company Limited, Kolkata ·
Beni Argo Products Private Limited ·
BPL Limited ·
Chromlab ·
Cipla Account Stores Department, Vikhroli ·
Cipla QC Department ·
Central Food Technological Research Institute ·
D K Scientific Industries ·
D P Enterprises ·
Dharma Trading Corporation ·
Embro Research Centre ·
Encore Healthcare Private Limited ·
Excel Industries Limited, Jogeshwari ·
Excel Industries Limited, Roha ·
Gargi Impex Corporation ·
Ganesh Scientifics ·
Genux Electrotech Limited ·
Guru Welgning Scales and Systems ·
Hetal Industries ·
Hindustan Coca Cola Beverages Private Limited ·
Hindustan Lever Limited, Andheri ·
Hindustan Lever Limited, Pondicherry – 9 ·
Hychem Laboratories ·
Indian Oil Corporation Limited ·
Indian Rare Earth Limited, Kerala ·
Indu Pharma Private Limited ·
Industrial and Commercial Services ·
J P Vyas and Company ·
J P Laboratories Private Limited, Kurkumbh ·
J Kishore Shah ·
Jigl Industries ·
K P Instruments ·
K R J Associates ·
Kansan Exports Private Limited ·
LCGC Supermarket ·
Lab Sales Corporation ·
Lab Chem Corporation ·
Micro Labs Limited ·
Modern Scientific Company ·
NGL Fine Chem Limited |
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No. of Employees : |
- |
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Bankers : |
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HDFC Bank Limited ·
ICICI Bank Limited ·
Bank of Baroda ·
Bank of India, Wadala (West)
Branch |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bhuva and Kanakia Chartered Accountants |
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Address : |
1, Alankar Ground Floor, 251, Sion Main Road, Sion (West), Mumbai –
400022, Maharashtra, India |
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Associates/Subsidiaries : |
Logan Instruments India Private Limited Sunjay Biotech Solutions Private Limited |
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Holding Company : |
ANM Alliance – Trade Private Limited |
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CIN of Company : |
U51909MH2003PTC141701 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1100000 |
Equity shares |
Rs.10/- each |
Rs.11.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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990800 |
Equity shares |
Rs.10/- each |
Rs.9.908
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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9.908 |
9.908 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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3.838 |
1.001 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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13.746 |
10.909 |
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LOAN FUNDS |
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1] Secured Loans |
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8.573 |
0.856 |
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2] Unsecured Loans |
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17.455 |
22.149 |
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TOTAL BORROWING |
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26.028 |
23.005 |
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DEFERRED TAX LIABILITIES |
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0.681 |
0.761 |
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TOTAL |
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40.455 |
35.675 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.855 |
7.265 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.139 |
0.002 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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35.205 |
26.025 |
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Cash & Bank Balances |
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3.498 |
1.397 |
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Other Current Assets |
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18.026 |
20.145 |
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Loans & Advances |
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6.559 |
3.314 |
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Total
Current Assets |
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63.288 |
50.881 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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30.722 |
22.250 |
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Provisions |
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1.120 |
1.246 |
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Total
Current Liabilities |
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31.842 |
23.496 |
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Net Current Assets |
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31.446 |
27.385 |
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MISCELLANEOUS EXPENSES |
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0.015 |
0.023 |
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TOTAL |
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40.455 |
34.675 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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103.916 |
89.475 |
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Other Income |
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18.910 |
20.954 |
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Total Income |
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122.826 |
110.429 |
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Profit/(Loss) Before Tax |
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2.529 |
2.775 |
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Provision for Taxation |
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0.950 |
0.000 |
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Profit/(Loss) After Tax |
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1.579 |
2.775 |
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Export Value |
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N.A. |
N.A. |
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Import Value |
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N.A. |
N.A. |
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Expenditures : |
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Raw Material Consumed |
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95.922 |
80.606 |
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Managerial Remuneration |
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0.795 |
0.645 |
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Payment to Auditors |
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0.016 |
0.011 |
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Interest |
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2.532 |
2.449 |
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Insurance Expenses |
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0.211 |
0.208 |
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Power & Fuel |
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0.610 |
0.401 |
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Depreciation & Amortization |
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1.633 |
1.218 |
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Other Expenditure |
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18.577 |
22.115 |
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Total Expenditure |
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120.296 |
107.653 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.28 |
2.51 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.43 |
3.10 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.19 |
0.05 |
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Return on Investment (ROI) (PBT/Networth) |
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0.11 |
0.25 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.21 |
4.26 |
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Current Ratio (Current Asset/Current Liability) |
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1.99 |
2.16 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8 :
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Corporate
identity number (CIN) Foreign company registration number |
L52311MH2000PLC129256 |
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Name of the Company
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AMKETTE ANALYTICS LIMITED |
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Address |
B – 27, 3rd Floor, 13 Sewree, G D Ambekar Marg, Wadala,
Mumbai – 400031, Maharashtra, India |
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This form is for |
Modification of
Charge |
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Type of Charge |
Immovable
Property |
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Particulars of the
charge holder |
Bank of India Wadala (West)
Branch, Mumbai – 400031, Maharashtra, India |
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Nature or
description of the instrument(s) creating or modifying the charge |
Extention of Equitable
Mortgage |
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Date of the
instrument creating or modifying the charge |
Date : 15.03.2007 |
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Amount secured by
the charge |
Rs.22.500
Millions |
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Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Rate Of Interest
: Interest @ 13%
p.a. Term of Repayment
: On Demand Margin : Nil Extent and
operation of the charge : Charge to the
extent of Rs.22.500 Millions operating on offered by the company |
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Short particulars
of the property charged (including location of the property) |
Equitable
mortgage situate at Gala No. B 27, 3rd
Floor, 13 Sewree, G D Ambekar Marg, Wadala, Mumbai – 400031, area 1148 se.
ft. Flat No.302, 3rd Floor, B – Wing, Meru Tower Co-op. Housing
Soiety, (Formally Known as Nagin Niwas) Plot No.549, Cathedestral Survey No.
750/10 Jam Jamshed Road, Matunga, Mumbai – 400019, Owned by Mr. Arvind
Nathalal Mehta, (HUF) Area 525 sq. ft. Working Capital Rs.15.000
Millions Non Fund Based Rs.7.500
Millions Total
Rs.22.500 Millions |
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Particular of the
present modification |
By present
modification dated 15.03.2007 bank has sanctioned additional cash credit
limit of Rs.10.000 Millions and increase charge from Rs.15.500 Millions to
Rs.22.500 Millions and thereby making total limit Rs.22.500 to the extent
charge on company immovable property. |
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Name of the company |
AMKETTE ANALYTICS LIMITED |
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Presented By |
Bank of India Wadala (West)
Branch, Mumbai |
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1) Date and description of instrument creating the change |
Agreement of
hypothecation of plant and machinery, stocks and book debts dated 23.03.2004. |
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2) Amount secured by the charge/amount owing on the securities of charge |
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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 |
All tangible
Movable machinery and Plant, both Present and Future Whether installed or not
and whether lying loose or in case at site or in transit which may be at any
time during the continuance of this security being upon or about the wherever
else the same may be or be held by any part anywhere disposition of the
borrower or in the course of transit to the borrower (all of which are here
after called “The hypothecated machinery”) All tangible
movable property and assets of whatsoever nature ( Other than movable and
uninstalled machines) of the borrower ( both present and future) and
including but without prejudices to the generally of the foregoing all stocks
of raw materials, such as Scientific and surgical furniture Finished and Non
finished Goods, spare parts components ( Including spare parts and relating
to plant and machinery to present and future) and stocks in process of the
borrower where over situate that may be at any time during continuance of
this security being installed or lying disputations of the borrower ( all of
which are hereafter to as the hypothecated goods) All the present
and future book debts, outstanding,
Money receivables claims, bills which are not due and owing to the borrower
or which hereafter during the continuances of this security become due
and owing to the borrower in the
course of this business by any person firm company or body corporate or by
the central government or any
municipal or local or public or semi governmental body or authority or
anybody corporate or undertaking or projects whatsoever (all of which are
hereinafter collectivity referred to as the said debts) |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
for cash credit 14.75 % p.a. and for guaranteed Rs.150+0.75% per quarter. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of India Wadala (West)
Branch, Mumbai |
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6) Date and brief description of instrument modifying the charge |
Supplemental Deed
of Hypothecation Dated : 17.12.2005 |
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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. |
The Original
charge was created on 23.07.2004 for Rs.7.000 Millions In favour of Bank of
India Wadala (West) Branch, Mumbai By Present
Modification Made on 17.12.2005 by way of Supplemental Deed of Hypothecation. All tangible
Movable machinery and Plant, both Present and Future Whether installed or not
and whether lying loose or in case at site or in transit more particularly
described in part A to schedule II there under written as also part A to
schedule II there under written to which may be at any time during the
continuance of this security being installed or lying loose or in case or
being or upon or about the Borrowers premises/ Godowns at or wherever else
the same may be or be held by any part anywhere to the order and wherever
else the same may be held by any part anywhere to the order and disposition
of the borrower or in the course of transit to the borrower (all of which are
here after called “The hypothecated machinery”) All tangible movable property and assets of whatsoever nature ( Other than movable and uninstalled machines) of the borrower ( both present and future) and including but without prejudices to the generally of the foregoing all stocks of raw materials, such as Scientific and surgical furniture Finished and Non finished Goods, spare parts components ( Including spare parts and relating to plant and machinery to present and future) and stocks in process of the borrower where over situate at mumbai, and more particularly described in part B and Schedule II there under written as well as in part B of the schedule II hereunder written and now being to or that may be at any time during continuance of this security being installed or lying disputations of the borrower ( all of which are hereafter to as the hypothecated goods) and all the present and future book debts, outstanding, Money receivables claims, bills which are not due and owing to the borrower or which hereafter during the continuances of this security become due and owing to the borrower in the course of this business by any person firm company or body corporate or by the central government or any municipal or local or public or semi governmental body or authority or anybody corporate or undertaking or projects whatsoever (all of which are hereinafter collectivity referred to as the said debts) To the intent that security and charge hereby created shall be a security by way of first charge on all the said hypothecation machinery hypothecated goods and the said debts the hypothecated machinery Goods, and the said debts are collectively referred to the hypothecated assets for the due payments of all money receivable including the whatsoever due owing and payable by the borrower to the bank under or in respect of in the said facilities to be granted and / or granted by the bank in the borrower as also for due repayments of all present and future and expenses.
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Fixed Assets :
·
Office Premises
·
Computer
·
Furniture and fixture
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Air Conditioner
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Telephone System
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Water Cooler
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Refrigerator
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Motor Cars
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Mobile Phones
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Office Equipment
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Motor Bikes
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Zerox Machine
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Car – Opel Astra
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Car – Maruti Alto
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Car – Honda City
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Car – Maruti 800
Website details :
Profile :
Subject is the exclusive authorized distributor of Shimadzu
balances for the Indian Territory. An instrumentation company with core
expertise in the field of distribution and supporting technology for analytical
sciences, biotechnology and separation sciences. Having an array of various
analytical instruments, consumables, columns, supplies and parts to cater to
the varied needs of the industry. To provide a key focus on customer
satisfaction in terms of sales and service, their company's two SBUs' (Strategic
Business Unit), viz. Analytical Instruments Group and Separation Science Group
offer complete solutions for the analytical and separation needs of the
industry respectively.
SSG-SEPARATION SCIENCE GROUP :
Represents Sartorius,
La Pha PAck, Sheshido, Kromasil, Waters, YMC, Wilmad, NIST, SGE and ES
industries for their range of products viz: Membrane filter paper,
consumables, columns, reference standards and spares required for UV, GC, HPLC,
GC/MS, FTIR, AAS, ICP, CE, DSC, TGA, and NMR. The supply of HPLC and GC
columns, cells for UV, IR and sampling tubes for NMR, CE, ICP, Hollow cathode
and D2 lamps for AAS and UV-Vis spectrophotometers and detectors form a part of
the group's activities.
AIG-ANALYTICAL INSTRUMENTS GROUP :
Represents, Shimadzu
Corporation, Japan for their range of weighing balances, including
micro, semi-micro and analytical balances, precision and portable top loading
balances, high precision industrial scales and balances with capacities ranging
from 5 gms to 30 kgs having an accuracy range of 1 microgram to 1 gram.
Subject is a scientific instrumentation company with core
expertise in the field of analytical instruments company with core expertise in
the field of analytical instruments and biotechnology. Subject draws its strength
from its well-trained professional technologists and its wide network of
franchisees. This repository of knowledge and technological expertise is
deployed for training, installing, commissioning and service of its various
product Lines.
They have proven competence and expertise in the
distribution and support for analytical instruments, biotechnology and
separation sciences and cater to the requirements, consumables, columns,
supplies and parts.
International Alliances :
Shimadzu Corporation,
Japan Weighing Scales.
Sartorius,
Germany Membranes filter paper
AKZO NOBEL/EKA CHEMICALS,
Sweden Bulk Silica and HPCL Columns.
Photron,
Australia Spectroscopic instruments
SGE,
Australia Columns and supplies
Shiseido,
Japan Semi Micro Columns, and Nano HPLC System.
Vial,
Vials for septa, caps and inserts.
Phenomenex,
USA Zebron GC Capillary Columns, GC Inlet Septa, GC Inlet
Liners, GC Syringes, Flow Meters, Leak Detectors, GC Accessories and
Attachments, HPLC Columns.
Shinwa,
ULTRON Chiral Columns
Chromtech,
Chiral Separation Columns
Hamilton ,
Swtizerland Polymer Columns and Carbohydrate Columns
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.39.40 |
|
UK Pound |
1 |
Rs.78.28 |
|
Euro |
1 |
Rs.58.23 |
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 |
|