MIRA
INFORM REPORT
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Report Date : |
12.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
JASSAR MULTI METALS |
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Registered Office : |
Amloh Road, Village Kumbh, Mandi Gobindgarh – 147301, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
25.08.2006 |
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Com. Reg. No.: |
030081200003 |
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TAN No.: |
PTLJ11117B |
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PAN No.: [Permanent
Account No.] |
AAFFJ1495H |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of all kind of Castings like Crans Blanks
etc. Forgings, Alloy and non Alloy Casting and to Carroty Heat treatment work
and Job Services. |
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 22500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. It can be considered normal for business dealings at usual trade terms
and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sanjeev Setia |
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Designation : |
General Manager |
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Contact No.: |
91-9855404910 |
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Name : |
Mr. Darshan Singh |
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Designation : |
Partner |
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Date : |
01.07.2008 |
LOCATIONS
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Registered Office / Factory: |
Amloh Road, Village Kumbh, Mandi Gobindgarh – 147301, Punjab, India |
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Tel. No.: |
91-1765-506105/ 251105 |
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Fax No.: |
91-1765-507105 |
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E-Mail : |
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Website : |
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Area : |
117000 Sq. ft |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Darshan Singh Jassar |
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Designation : |
Partner |
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Address : |
Mandi Gobindgarh – 147301, Punjab, India |
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Mobile No.: |
91-9915073402/ 9814073402 |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Graduate |
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Experience : |
25 Years |
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Name : |
Mr. Manmohan Singh Jassar |
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Designation : |
Partner |
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Address : |
Mandi Gobindgarh – 147301, Punjab, India |
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Mobile No.: |
91-9855404920 |
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Date of Birth/Age : |
41 Years |
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Qualification : |
BSC |
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Experience : |
18 Years |
KEY EXECUTIVES
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Name : |
Mr. Sanjeev Setia |
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Designation : |
General Manager |
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Mobile No.: |
91-9855404910 |
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Name : |
Mr. Kavindra Mehra |
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Designation : |
Marketing Manager |
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Mobile No.: |
91-9216200305 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of all kind of Castings like Crans Blanks
etc. Forgings, Alloy and non Alloy Casting and to Carroty Heat treatment work
and Job Services. |
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Exports : |
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Products : |
All Kind of Castings |
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Terms : |
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Selling : |
L/C, Cash and Credit ( 30 days) |
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Purchasing : |
L/C, Cash and Credit ( 30 days) |
PRODUCTION STATUS
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Particulars |
Installed
Capacity |
Actual
Production |
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As Detailed Above |
3000 M.T. Forgingh Per Annumn, 1800 Tonne Casting, 1200 Tonne Heat
Treatment |
As Per Demand |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v End Users v Consumers |
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No. of Employees : |
Total: 78 (Office: 18, Factory: 60) |
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Bankers : |
Bank of India Mandi Gobindgarh, Punjab, India |
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Facilities : |
CC - Rs. 12.000 millions Term Loan - Rs. 7.000 millions Total – 19.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Agarwal And Company Chartered Accountants |
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Address : |
Khanna, Punjab |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 4.500 millions |
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Borrowed : |
-- |
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Total : |
Rs. 4.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Partner’s Capital |
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4.500 |
4.330 |
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Fixed Assets |
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5.400 |
5.250 |
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Inventories |
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2.400 |
2.800 |
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Sundry Debtors |
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3.090 |
2.320 |
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Cash and bank |
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0.520 |
0.670 |
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Current Liabilities |
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59.200 |
29.900 |
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Sales Turnover |
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70.000 |
65.000 |
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Profit/Loss for the year |
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6.750 |
4.650 |
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Raw Materials |
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3.000 |
2.500 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v Bhambri Steels Private Limited – Mandi Gobindnagar, Punjab
v Schimede and Machine Limited – Bokaro
v Kalyani Engineering Works – Ghaziabad
v Rattan Hammers Private Limited – Ludhiana
v Neta Valvesp Limited – Jalandhar
As Per Website Details
Subject is a casting and forging unit located at Mandi Gobidgarh, Punjab. It has an ISO certification to its credit. It is a new unit with latest technology and the best of amenities. The concern is managed by Mr. Darshan Singh Jassar & Mr. Manmohan Singh Jassar who are highly acclaimed for their unique management skills and carry experience of 25 years in Iron and Steel Industry.
Subject is equipped with manufacturing capabilities along with testing and
production facilities to meet any national or international standards of
castings.
They have a capacity to cast products ranging from 0.5 Kgs. onwards in all
grades. They have a capacity to forge single piece upto 8MT. in carbon steel
and alloy steels.
Subject blends past experience and present technologies to offer its customers a competitive edge with complete satisfaction. Subject acts according to its quality assurance plan and has spread its manufacturing facilities across the different units.
Castings
Infrastructure
Melting Shop
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Floor
Area of Melting Shop - 7500 sq. ft.
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Overhead
Crane of 15 MT.
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Induction
Furnace (with two crucibles 700 Kgs. and 1400 Kgs.)
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Ladle
Pre-Heater
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Ladle
refining
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Holding
furnace
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Immersion
Pryometer
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C-Si
analyser
Foundry Division
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Floor
Area of Foundry division - 6000 sq. ft.
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Moulding
Machines
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Sand
Handling Equipment
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Sand
Mixers
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Flame
Guns
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Muller
Machines
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Mould
boxes in various sizes
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Rammers
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Pattern
Shop
Fettling Division
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Shot
Blasting Machines
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Grinding
Machines
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Air
Compressors
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Chippers
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Pneumatic
Tools
Heat Treatment Shop
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Heat
treatments like annealing, normalizing, tempering, hardening and quenching are
carried out in the Heat treatment shop.
Machine Shop
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Floor
Area of Machine Shop - 2400 sq. ft.
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EOT
Cranes upto 10 MT.
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Lathe
Machines
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Shaper
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Drilling
Machines
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Cutting
Machine
Forging
Infrastructure
Forging Division
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Floor
Area of Forging division - 5000 sq. ft.
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Steam
Boiler
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Forging
Hammer
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Overhead
Cranes upto 15 MT.
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Pre-heating
Furnaces with temp. analyser
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Spl.
soaking area with vermiculite powder for alloy steels.
Heat Treatment Shop
v
Heat
treatments like annealing, normalizing, tempering, hardening and quenching are
carried out in the Heat treatment shop.
Machine Shop
v
Floor
Area of Machine Shop - 2400 sq. ft.
v
EOT
Cranes upto 10 MT.
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Lathe
Machines
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Shaper
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Drilling
Machines
v
Cutting
Machines
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 :
The 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.
The 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.72 |
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UK Pound |
1 |
Rs. 84.42 |
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Euro |
1 |
Rs. 67.38 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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46 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
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