MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
MISHRA DHATU NIGAM LIMITED |
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Registered Office : |
P.O. Kanchanbagh, Hyderabad – 500 058, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.11.1973 |
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Com. Reg. No.: |
01-1660 |
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CIN No.: [Company
Identification No.] |
U14292AP1973GOI001660 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDM00022B |
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Legal Form : |
It is a closely held public limited liability company. The company is owned by Government of India. |
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Line of Business : |
Manufacturing of special metals and super-alloys required for
strategic sectors like Aeronautics, Space, Defence and Atomic Energy. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 6880000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a Government of India undertaking functioning under the Ministry of Defence. It is an ISO 9002 company with modern metallurgical facilities and high technical competence for manufacturing a wide range of super alloys, special metals and alloys meeting stringent international standard for application in Aerospace, defence, atomic energy, power serration, chemicals and hi-tech industries. During the financial year 2002-2003 there has been downturn in its turnover and the company incurred some losses. However, the company achieved a turnaround clearing all accumulated losses during the financial year 2003-04. Subject is a professionally managed organization. Trade relations are reported as fair. Payments are usually correct and as per the company’s standard procedures. It can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
P.O. Kanchanbagh, Hyderabad – 500 058, Andhra Pradesh, India |
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Tel. No.: |
91-40-2444 0001 (10 Lines) / 2434 0001 |
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Fax No.: |
91-40-2444 0214 / 2434 0214 / 2434 0764 |
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E-Mail : |
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Website : |
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Telex : |
0425-6552 / 6494 |
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Gram : |
MIDHANI, HYDERABAD |
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Regional
Office : |
Regional Office [North], 26, Sector A, Pocket C, Vasant Kunj, New Delhi - 110070 Contact Person : Mr. Prashant Salwan – Office In-Charge |
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Tel. No.: |
91-11-26892959 / 26890253 |
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Fax No.: |
91-11-26890253 |
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E-Mail : |
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Commercial
Offices : |
“Priyadarshini”, RCF New Office Complex, 1st Floor, Suman Nagar, Sion-Chembur Road, Mumbai – 400 022 Telefax : 91-22-24070639 Contact Person : Mr. A. A. Umdekar, Manager 1/131, Gariahat Road (South), Jodhpur Park, Kolkata – 700 068, West Bengal Telefax : 91-33-24728414 Tel No. 91-22-24300370 (Res.) Contact Person : Mr. P. K. Ghosh – Manager Old 947/New 140, Sorrento Ho, Poonamalee High Road, Chennai – 600084, Tamil Nadu Telefax : 91-44-26481101 Contact Person : Mr. R. Thanikachalam – Deputy Manager Mr. Vijay Kumar – Manager |
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Factory : |
superalloys
plant
PO : Kanchanbagh, Hyderabad – 500 058, Andhra Pradesh, INDIA Tel. No. 91-40-2444 0041 / 2444 0293 Fax No. 91-40-2444 0214 Telex : 91-40-4256552 / 6494 E Mail : mdnexpt@hd1.vsnl.net.in |
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Resident
Representative At Delhi : |
B-10, 7259, Vasant Kunj, New Delhi – 110 070 Contact Person : Mr. V. K. Bhatnagar |
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Tel. No.: |
91-22-28682759 / 26121325 (Res.) |
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Fax No.: |
91-22-26121352 |
DIRECTORS
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Name : |
Mr. Kota Harinarayana |
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Designation : |
Director |
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Address : |
F-402, Adarsh Palace, 47th Cross, V-Block, Jayanagar,
Bangalore 560041, Karnataka, India |
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Date of Birth/Age : |
14.05.1943 |
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Date of Appointment : |
14.09.2006 |
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Name : |
Mr. Ranjan Chatterjee |
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Designation : |
Director |
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Address : |
D-1/87, Rabindra Nagar, New Delhi 110003, India |
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Date of Birth/Age : |
09.10.1952 |
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Date of Appointment : |
23.01.2006 |
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Name : |
Mr. Bangalore Venkataswami Krishnamurthy |
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Designation : |
Director |
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Address : |
Door No. 3-4-870, Barkatpura, Hyderabad 500027, Andhra Pradesh, India |
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Date of Birth/Age : |
20.08.1954 |
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Date of Appointment : |
19.02.2001 |
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Name : |
Mr. Dipankar Banerjee |
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Designation : |
Director |
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Address : |
D1/37, Bharati Nagar, New Delhi 110003, India |
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Date of Birth/Age : |
15.02.1952 |
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Date of Appointment : |
08.01.2003 |
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Name : |
Mr. Harinarayana Kota |
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Designation : |
Director |
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Address : |
F-402, Adarsh Palace, 47th Cross, V-Block, Jaya Nagar,
Bangalore 560041, Karnataka, India |
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Date of Birth/Age : |
14.05.1943 |
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Date of Appointment : |
14.09.2006 |
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Name : |
Mr. Harinarayana Kota |
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Designation : |
Director |
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Address : |
F-402, Adarsh Palace, 47th Cross, V-Block, Jaya Nagar, Bangalore
560041, Karnataka, India |
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Date of Birth/Age : |
14.05.1943 |
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Date of Appointment : |
14.09.2006 |
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Name : |
Mr. Myneni Narayana Rao |
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Designation : |
Director |
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Address : |
House No. 7-1-58/4/503, Block IV-B, Divya Sakthi Apartments,
Amarpreet, Hyderabad 500016, Andhra Pradesh, India |
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Date of Birth/Age : |
01.09.1955 |
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Date of Appointment : |
27.07.2006 |
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Name : |
M. H. Khan |
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Designation : |
Director |
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Address : |
House No. 4, Sector 14, Noida, Ghaziabad 201601, Uttar Pradesh, India |
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Date of Birth/Age : |
01.12.1952 |
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Date of Appointment : |
04.03.2004 |
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Name : |
Mr. R. K. M. Bhattacharya |
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Designation : |
Director |
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Address : |
D- II/34, Shahjehan Road, New Delhi, India |
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Date of Birth/Age : |
01.01.1946 |
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Date of Appointment : |
14.05.2004 |
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Name : |
Mr. Prakash K. Puri |
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Designation : |
Director |
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Address : |
MIG Cottage Ojhar Townshi Post, Ojhar Township, Nasik 422207,
Maharashtra, India |
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Date of Birth/Age : |
15.09.1948 |
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Date of Appointment : |
08.01.2003 |
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Name : |
Mr. P. V. Subba Rao |
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Designation : |
Director |
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Address : |
2-2-1149, Tirumala Enclave Nallakunta, Hyderabad 500044, Andhra
Pradesh, India |
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Date of Birth/Age : |
27.05.1953 |
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Date of Appointment : |
23.09.1996 |
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Name : |
Mr. Kanti Saumya Ray |
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Designation : |
Director |
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Address : |
GM Bungalow Ordnance Factory, Ambajhari, Nagpur 440021, Maharashtra,
India |
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Date of Birth/Age : |
12.03.1945 |
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Date of Appointment : |
17.04.2003 |
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Name : |
Mr. Devasis Chowdhary |
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Designation : |
Chairman Cum Managing Director |
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Address : |
F – 402, Padmaja Apartment Westmarredpally, Secunderabad, Hyderabad
500026, Andhra Pradesh, India |
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Date of Birth/Age : |
01.07.1946 |
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Date of Appointment : |
25.04.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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President of India |
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1373399 |
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Devasis Chowdhary |
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1 |
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Total |
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1373400 |
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Equity Share
Break-up |
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Percentage of Holding |
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Government [Central and State] |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of special metals and super-alloys required
for strategic sectors like Aeronautics, Space, Defence and Atomic
Energy. |
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Products : |
+ Molybdenum + Weld Consumables + Magnesium Alloys + Titanium Tubes |
GENERAL
INFORMATION
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No. of Employees : |
1359 |
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Bankers : |
+ Central Bank of India + Andhra Bank, Hyderabad, Andhra Pradesh, India + Andhra Bank, BDL Campus, Kanchanbagh, Hyderabad - 500058, Andhra Pradesh + Andhra Bank, Ballygunje, Hyderabad, Andhra Pradesh + Andhra Bank, Kolkata, West Bengal + Andhra Bank, Chennai, Tamilnadu + Andhra Bank, Mumbai + HDFC Bank, Lakdi-ka-pul Branch, Hyderabad, Andhra Pradesh + State Bank of India, Chandrayangutta, Hyderabad, Andhra Pradesh + State Bank of India, Backbay Reclamation, Mumbai + State Bank of India, Chunabhatti, Mumbai + Standard Chartered Grindlays Bank Limited, Hyderabad, Andhra Pradesh + Punjab National Bank, Malakpet Branch, Hyderabad, Andhra Pradesh + State Bank of Hyderabad, Saidabad Branch, Hyderabad, Andhra Pradesh + State Bank of Patiala, Camac Street Branch, Kolkata, West Bengal + Indian Bank, Harbour Branch, Chennai, Tamilnadu |
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Banking Relations
: |
Good |
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Auditors : |
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Name : |
Venugopal and Chenoy Chartered Accountants |
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Address : |
Tilak Road, Hyderabad 500001, Andhra Pradesh, India |
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Memberships : |
Confederation of Indian Industry |
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Associates/Subsidiaries : |
All Government of India Undertaking Companies. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1400000 |
Equity Shares |
Rs. 1000/- each |
Rs. 1400.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1373400 |
Equity Shares |
Rs. 1000/-
each |
Rs. 1373.400
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1373.400 |
1373.400 |
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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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347.421 |
169.516 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1720.821 |
1542.916 |
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LOAN FUNDS |
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1] Secured Loans |
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0.506 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.506 |
0.000 |
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DEFERRED TAX LIABILITIES |
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15.716 |
17.477 |
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TOTAL |
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1737.043 |
1560.393 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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243.847 |
255.510 |
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Capital work-in-progress |
|
12.725 |
1.973 |
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INVESTMENT |
|
21.011 |
21.011 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1482.277 |
1170.414 |
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Sundry Debtors |
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398.226 |
353.457 |
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Cash & Bank Balances |
|
1659.511 |
1139.659 |
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Other Current Assets |
|
43.712 |
8.533 |
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Loans & Advances |
|
278.465 |
176.755 |
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Total
Current Assets |
|
3862.191 |
2848.818 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2128.534 |
1398.359 |
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Provisions |
|
326.938 |
186.517 |
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Total
Current Liabilities |
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2455.472 |
1584.876 |
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Net Current Assets |
|
1406.719 |
1263.942 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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Accrued Income |
|
52.741 |
17.957 |
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TOTAL |
|
1737.043 |
1560.393 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
1.42 |
1.03 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.57 |
1.79 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
The company was incorporated on 20th November, 1973 at Hyderabad in Andhra Pradesh having Company Registration Number 1660.
Subject was incorporated as a public sector undertaking under the Department of Defence Production, Ministry of Defence for manufacturing of superalloys, titanium alloys and special purpose steels required for strategic sectors like aeronautics, space, defence, atomic energy, navy, special products like molybdenum wires & plates, titanium and stainless steel tubes, alloys for electrical and electronic applications like soft magnetic alloys, controlled expansion alloys and resistance alloys. Go-ahead signal for project activities was given in February, 1976 after CCPA approval. Commencing phased production in 1981, the company went into commercial production by July, 1983.
Subject is a public sector enterprise under the administrative control of Ministry of Defence.
Form 8
Bankers Charges
Report as per Registry
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Name of the company |
MISHRA DHATU
NIGAM LIMITED |
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Presented By |
Mr. P. V. Subba
Rao Company Secretary
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1) Date and description of instrument creating the change |
11.03.2002 Security for advances and Loans 11.03.2002 Term Loan Agreement [Form A] 11.03.2002 Hypothecation of movable machinery |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 28.000
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 |
All tangible movable
machinery and plant [both present and future] whether installed or not and
whether lying loose or in cases at sight or transit or which may at any time
hereafter during the continuance of this security be installed or lying loose or in cases or being
in or upon or about the borrowers premises and go downs at Hyderabad or
wherever else the same may be or be held
by any party any where to the order and disposition of the borrower or
in course of transit to the borrower and Assets as specifically described in
the document for hypothecation of movable machinery dated 11.03.2002 All other Assets
as specifically described in security for advances and loans dated 11.03.2002 |
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4) Gist of the terms and conditions and extent and operation of the
charge. |
[a] interest Nil % per annum
over the banks prime lending rate – [presently 12% per annum] with a minimum
of 12% per annum with quarterly rests. [b] Margin : NIL [c] Repayment 20 equated
quarterly installments with a gestation period of 18 months from 15.03.2002 [d] the charge
operates as a first charge by way of hypothecation |
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5) Name and Address and description of the person entitled to the
charge. |
Andhra Bank BDL Campus
Branch, Hyderabad |
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6) Date and brief description of
instrument modifying the charge |
NA |
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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. |
NA |
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Name of the company |
MISHRA DHATU
NIGAM LIMITED |
|
Presented By |
Mr. P. V. Subba
Rao Company Secretary
|
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1) Date and description of instrument creating the change |
4.12.1998 Agreement for open cash credit 4.12.1998 Security for advances and loans 4.12.1998 Agreement for hypothecation of Book Debts |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 327.500
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 |
All the goods and
commodities of the description set out in the schedule to the agreement of
packing credit dated 4.12.1998 both present and future All movable
property of every description and all marketable securities and goods as
described in security for advances and loans dated 4.12.1998 All book debts
present and future as described in agreement of hypothecation of goods dated
4.12.1998 |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
i]Limits
Amount Open cash
credit [With sub limit
for packing credit
Rs. 92.500 Millions Rs. 30.000
Millions and Import loan Rs. 60.000
Millions] Bills
Discounting Rs. 5.000 Millions [DBP/DUBD/CUBD] Foreign and
Inland Letter of Credit Rs. 200.000 Millions Bank
Guarantee Rs. 30.000 Millions Ii] Margin Cash Credit Raw
materials 25% Stock 40% Work in
process 25% Packing
Credit 10% For BG’s of
Disputed tax duties
100% Iii] Rate of Interest A] Cash Credit
and Bills discounting 0.27% over and
above bank’s prime lending rate fixed by bank from time to time subject to a
minimum of 13.77% per annum. Overdue interest
@2% p.a. in case of default. B] Packing Credit
From a minimum of
9% to 20% depending upon period C] import loan :
LIBOR + 1.5% interest surcharge + Interest Tax Iv] the charge
operates as a first charge by way of hypothecation |
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5) Name and Address and description of the person entitled to the
charge. |
Andhra Bank BDL Campus
Branch, Hyderabad |
|
6) Date and brief description
of instrument modifying the charge |
31.03.2003 Agreement for
open cash credit 31.03.2003 Security for
advances and loans 31.03.2003 Bank’s right to cancel
limits |
|
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. |
Limits : The original
charge created on 4.12.1998 for Rs. 327.500 Millions has been modified on
1.10.2001 to secure the revised credit facilities to the extent of Rs.
160.000 Millions consisting of Rs. 50.000 Millions open cash credit [sub
limit of Rs. 10.000 Millions for packing credit] inland letter of credit /Foreign
Letter of Credit for Rs. 100.000 Millions Bank Guarantee limit of Rs. 10.000
Millions There is no
change in the limits and the terms and conditions. The present modification is only for renewal of existing limits
on the same terms and conditions. |
AS PER WEBSITE DETAILS:
PROFILE
Soon after Independence, India embarked on an
ambitious programmed of industrialization. Self-reliance in hi-tech special
metals and alloys became essential for meaningful growth of Space, Atomic Energy,
Aeronautical, Steel and Hydro-electric power & Defence sectors
heralding the change. Conceived of by eminent metallurgists, subject was set up
to fulfil this need. For MIDHANI, it has been an unparalleled experiment and a
challenge undertaken to create the technological ability for manufacture of
perhaps the widest range of advanced metals and alloys anywhere in the world,
under one roof
Subject is located
in the historic city of Hyderabad in the southern State of Andhra Pradesh,
reputed for the manufacture of Wootz Steel which went into making of the
world-acclaimed "Damascus Sword".
MIDHANI - an ISO 9001:2000 Company with modern
metallurgical facilities and high degree of technical competence in
manufacturing a wide range of Superalloys, Titanium, Special Purpose Steels and
other special metals and alloys meeting stringent international standards for
application in Aerospace, Defence, Atomic Energy, Power Generation, Chemical
and other hi-tech industries.
NEWS
The
first ever Vendor Meet was organised by Midhani on January 4, 2008 at Midhani
Auditorium.
The programme was inaugurated by their C & MD Sri. M.
Narayan Rao. During the inaugural speech Sri Rao urged all the suppliers/
vendors to be partners in business and help Midhani in taking up challenging
jobs and supplying material on time. He opined that vendors too are part
of Midhani family and that they should work as a team.
Earlier Sri. K. Ramesh, Director (P& M), welcomed the vendors who
have come from various parts of the country for the meet and stressed the need
to prepare themselves to take up the futuristic assignments that Midhani would
be entrusting them with to ensure an effective supply-chain management.
Sri. P. Ravi, IPS, Chief Vigilance Officer, Midhani explained the new
trends and initiatives being taken up the Vigilance commission with regard to
procurement procedures
Since
inception Midhani was supplying material in various mill forms. However in
recent times there has been a growing demand for supply of their products near
net shapes and as components, which can be readily used. Consequently,
Midhani is opening up its doors for taking the support and help of various
vendors to meet the customer requirements.
Mr. Amal
Banerjee, DGM (Purchase & Stores), spoke on the procurement procedures of
Midhani followed by Sri. P.P. Reddy, AGM (PPC, Projects & IT) made
presentation on "Expansion program and outsourcing opportunities" and
Sri. M.V. Raghavaiah, AGM (Forge, HT, M/C & Bio) presented on the
"Forging ring rolling and machining opportunities".
Eight
invited presentations were made by the vendors on this occasion who included
HDFC, Reserve Bank of India on e-payment options, M/s. Premier Alloys &
Chemicals Limited., M/s. Indian Oil
Corporation Limited., M/s. Electronics
Machine Tools Limited, M/s. Pragya Equipment
Private Limited., M/s. I. R Technology
Services Private Limited, R & C Lab, ASP Durgapur, M/s. Indo Tech Machineries Private Limited
The meet was well attended by more than sixty vendors who have
unanimously expressed their support to Midhani for reaching greater
heights.
The programme concluded with a lively interactive session.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 39.40 |
|
UK Pound |
1 |
Rs. 78.28 |
|
Euro |
1 |
Rs. 58.23 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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 |
|