MIRA
INFORM REPORT
|
Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
FCML PROJECTS |
|
|
|
|
Registered Office : |
A-217, Okhla
Industrial Area, New Delhi - 110020 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
September, 1996 |
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|
|
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELF01488E |
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|
|
Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners. |
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|
Line of Business : |
Trader of Sanitary Products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 40000 |
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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 well
established and reputed concern having satisfactory track. Partners are
reported as experienced, respectable and resourceful businessmen. Their trade
relations are fair. Payments are reported as correct and as per commitments.
Nothing adverse reported. The concern can
be considered normal for business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Deepak Sharma |
|
Designation : |
Accountant |
|
Contact No.: |
91-9350616405 |
|
Date : |
16.07.2008 |
LOCATIONS
|
Registered
Office/ Head Office / Factory 1 : |
A-217, Okhla
Industrial Area, 1100120, New Delhi-India |
|
Tel. No.: |
91-11-26372701-06
/ 26814240 / 26817270 /26372701-04 |
|
Fax No.: |
91-11-26814240/
41613545 / 26818113 |
|
Mobile No: |
91-9811071594/
9810014234 |
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E-Mail : |
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|
Area: |
600 Sq.ft |
|
Location: |
Owned |
|
|
|
|
Factory 2 : |
B 260 Okhla
Industrial Area, Phase I, India |
|
Location : |
Rented |
|
|
|
|
Showroom: |
Ø
Sultanpur
Chowk, Mehrauli-Gurgaon Road, New Delhi 110030 Tel. No.:
91-11-26800482/26800492 Ø
M-67, M
Block Market, G. K. II, New Delhi-110048 Tel. No.: 91-4053-6612-14 Ø
32, Khader
Nawaz Khan Road, Nungambakkam, Chennai-600034 Tel. No.: 91-44-55335550-2 |
|
|
|
|
Branch: |
Located At Ø
FCML
Projects, 1083/1084, Adarsh Nagar, Andheri Link Road, Andheri (West), Mumbai
400058 Tel No.: 91-22-26741579/80 Mobile No.: 91-9820626227 Ø
Arch Bishop Mathias
Avenue, Chennai 600028, Tamilnadu, India Tel No.: 91-44-24354271 Fax No.: 91-44-24335801 Ø
No.402, 4th
Floor, Richmond Poollozio, No.5, Richmond Road, Bangalore-560025 Tel. No.: 91-80-51125763 |
PARTNERS
|
Name : |
Mr. Nirmal Khandelwal |
|
Designation : |
Managing Partner |
|
Address : |
C-783, New
Friends Colony, New Delhi 110065, India |
|
Date of
Birth/Age : |
56 Years |
|
Qualification
: |
B.Com |
|
Experience : |
36 Years |
|
|
|
|
Name : |
Mr. Abhinav
Khandelwal |
|
Designation : |
Partner |
|
Address: |
C-783, New
Friends Colony, New Delhi 110065, India |
|
Age: |
33 Years |
|
Qualification: |
Graduate |
|
Experience: |
13 Years |
|
|
|
|
Name : |
Mrs. Madhu
Khandelwal |
|
Designation : |
Partner |
|
Address: |
C-783, New Friends
Colony, New Delhi 110065, India |
|
Age: |
54 Years |
|
Qualification: |
Graduate |
|
Experience: |
30 Years |
BUSINESS DETAILS
|
Line of
Business : |
Trader of
Sanitary Products |
|
|
|
|
Agencies Held
: |
Ø Manu Sec, France Ø Jhohnson Wax Professional India Private
Limited, India Ø Jacob Delafone, France Ø RND Marketing Demesta, U.K. Ø Euroglass Systems Limited, New Zealand Ø Nikko-Patra Crockery, Japan Ø Milliken and Company, U.S.A Ø Dorn Bracht, Germany Ø Inda, Italy Ø Borsoil, India Ø R. Demesta, U.K. Ø Interlock, New Zealand Ø Kimberly Clark, U.S.A. Ø Better Living Products, Canada Ø Kolher, France Ø Johnson Diversey Ø GESSI, Italy Ø Gilette India Ø Grahe |
|
|
|
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Exports : |
|
|
Countries : |
USA, UK, Dubai,
Russia, France, Srilanka and UAE |
|
|
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|
Imports : |
|
|
Countries : |
Sri Lanka, Dubai,
USA, Canada, China, Germany, France, Italy, Japan and Sweden |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
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|
|
|
Purchasing : |
Cash, Credit |
GENERAL
INFORMATION
|
Customers : |
Wholesalers,
Retailers and End Users Some of the major customers are : Ø ITC Hotels Limited, India Ø East India Hotels Limited, India Ø Taj Group of Hotels, India Ø Le Meridien, India Ø Raddison Hotel (AB Hotels Limited), India Ø Southern Pacific Hotel Corporation, India Ø Holiday Inn Chain of Hotels, India Ø Leela Kemipnski, India Ø Hyatt Regency, India Ø Guest Line Days Inn, India Ø Serling Resorts, India Ø ITDC Chain of Hotels, India Ø International Group of Hotel, India Ø Pizza Hut, India Ø Pizza Corner, India Ø Marriant Group of Hotel, India |
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|
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No. of
Employees : |
125 |
|
|
|
|
Bankers : |
Canara Bank, Janapath, New Delhi – 110 018, India |
|
|
|
|
Facilities : |
The concern
reported to enjoy credit of Rs. 40.000 millions from its Canara Bank. |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
P.K. Behl And
Company Chartered
Accountant |
|
Address: |
108, Jama Masjid,
Delhi 110006, India |
|
Tel. No.: |
91-23268305 /
23277698 |
|
|
|
|
Sister
Concern: |
·
Ajanta
Trading Company, India Address: 3607, Chawri Bazar ·
FCML
Distributors Private Limited Address: A 217, Okhla Industrial Area, 110 020, New Delhi-India ·
FC2 Life
Style Retail Private Limited |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 7.910 millions |
|
Borrowed : |
--- |
|
Total : |
Rs. 7.910
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover |
|
|
500.000 |
Expected Sales (2008-09): Rs. 650.000 millions
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1] Partners
Capital |
|
7.910 |
15.155 |
|
|
2] Share
Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated
Losses) |
|
0.000 |
0.000 |
|
NETWORTH
|
|
7.910 |
15.155 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
36.781 |
23.293 |
|
|
2] Unsecured
Loans |
|
13.378 |
13.615 |
|
TOTAL BORROWING
|
|
50.159 |
36.908 |
|
|
DEFERRED TAX
LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
58.069 |
52.063 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
|
9.888 |
7.718 |
|
Capital work-in-progress
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT
|
|
11.255 |
5.520 |
|
DEFERREX TAX ASSETS
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS &
ADVANCES
|
|
|
|
|
|
|
Inventories
|
|
40.761
|
34.815 |
|
|
Sundry Debtors
|
|
66.621
|
34.518 |
|
|
Cash & Bank Balances
|
|
5.552
|
1.161 |
|
|
Other Current Assets
|
|
0.000
|
0.000 |
|
|
Loans & Advances
|
|
9.627
|
3.405 |
Total Current Assets
|
|
122.561
|
73.899 |
|
Less : CURRENT
LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
|
85.635
|
|
|
|
Provisions
|
|
0.000
|
|
Total Current Liabilities
|
|
85.635
|
35.074 |
|
Net Current Assets
|
|
36.926
|
38.825 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
|
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
|
58.069 |
52.063 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
Sales Turnover [including other
income]
|
|
278.416 |
183.617 |
|
|
|
|
|
Profit/(Loss) Before Tax
|
|
8.827 |
4.449 |
Provision for Taxation
|
|
0.000 |
0.000 |
Profit/(Loss) After Tax
|
|
8.827 |
4.449 |
|
|
|
|
|
Total Expenditure
|
|
269.589 |
179.168 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
|
3.17 |
2.42 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
|
3.17 |
2.42 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
6.66 |
5.45 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
|
1.11 |
0.29 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
17.17 |
4.75 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
|
1.43 |
38.82 |
LOCAL AGENCY
FURTHER INFORMATION
COMPANY PROFILE :
Subject is a pioneering supply company in business since 1840s and actively servicing the hospitality and allied sectors for the last 5 decades with an exclusive range of internationally bench-marked products. A well-entrenched player with high industry recall subject has for the past 4 decades distributed expeditiously for global Giants such as Milliken (U.S.A.), Kohler (USA, France), Alape (Germany), JVD (France), Jerdon (USA), Tefal (France), Bormioli Rocco (Italy), Nikko-Patra (Japan), Mepra (Italy), Valera (Switzerland), Johnson Divesey, Springfit, Gillette India, Balsara Home Products, Luxor Parker.
Customer satisfaction with product and service deliveries have merited subject with an appreciable clientele comprising reputed hotel chains including none other than The Taj Group, The Oberoi Group, The ITC (Sheraton) Group, Inter Continental Chain, The Hyatt Group, The Radisson Hotel chain, The Jaypee and Meridian Group, The Leelas and others; service sensitive hospitals such as Escorts, Apollo, MaxIndia; professionally managed business schools with high image value such as the Indian School of Business (Hyderabad), Pathways (Sons); besides reputed players in the Corporate world such as Hindustan Times, Raymonds, Birla Group Housing, GE Capital, Bhartiya Telesoft, Gopal Zarda- to name just a few.
With ambitious expansion plans to establish itself as the single window outlet to cater to not just premium life-style products but also routine items for the ever increasing clientele, subject has now branched off into undertaking various turnkey interior projects for the hospitality industry particularly the hotels. With this diversification, subject has now further extended its contribution from 75% to almost a one-stop shop for comprehensive need fulfillment for the industry thereby minimizing market research time and maximizing cost-benefit for the industry.
TRADE REFERENCES:-
·
Hyatt Regency
·
Pizza Hut
India
· Mr. S. Govindrajan,
ITC Hotels Limited, Plot -10, Sector -32, Institutional Area, Gurgaon-122002
Tel. No.: 95124-4171717 (Extension -2014)
· Mr. Gurcharan,
Taj Mahal Hotel, No.1, Mansingh Road, N.D.II
Tel. No.: 91-230261
· Mr. Manish Uppal,
Uppal Builders, S-19, Panchsheel Park, N.D.
Tel. No.: 91-41745596
NOTES :-
Subject has three showrooms i.e. 2 in Delhi and 1 in Chennai
OTHER DETAILS :-
International Choice,
Global Benefits :
For subject, globalization has come with responsibilities. It has generated a multi-product environment, facilitated a faster response time to change and encouraged subscription to globally accepted standards of quality, prompt delivery and price reasonability. In their endeavour to pass on the benefits of globalization to its customers. Subject has forged beneficial economic linkages with leading companies thereby introducing the Indian audience to products and services that conformed to highest international standards. Some such domestic and international business partnerships are given below that offer clients more choice, more economy and more satisfaction.
For Bathrooms
|
Company |
Country |
Products |
|
Kohler |
USA, France |
Sanitary ware, Whirlpool and Faucets |
|
Flaminia |
Italy |
Sanitary ware |
|
Gessi |
Italy |
Faucets |
|
Dorn Bracht |
Germany |
Faucets |
|
Art Ceram |
Italy |
Wash Basin |
|
Alape |
Germany |
Wash Basin |
|
Pomdor |
Spain |
Bathroom Accessories |
|
Intra |
Denmark |
Wash Basin |
|
Grohe |
Germany |
Faucets |
|
Zerreri |
Italy |
Faucets |
|
White Stone |
Italy |
Wash Basin |
|
EOS |
Italy |
Wash Basin |
|
Hoesch |
Germany |
Bathtub and Whirlpool |
|
Mr. Steam |
USA |
Steam, Generator Systems |
|
Euroglass |
New Zealand |
Hardware for shower cubicle |
|
Valera |
Switzerland |
Hair Dryers |
|
Demista |
UK |
Anti Fogging Heat Pads for Mirrors |
|
Jerdon |
USA |
Shaving/ Make Up Mirrors |
|
JVD |
France |
Automatic Hand Dryers/ Hair Dryers |
|
Grok |
Germany |
Faucets |
|
Ozone |
Taiwan |
Personal Weighing Scales |
|
Never Slip |
India |
Anti Slippery Bath Scales |
|
FCML |
India |
Bathroom Accessories : Glass Basin, Towel Racks, Towel Rail, Soap Dish, Robe Hook, Shoe Shine Hook, Curtain Rod, Hide A Line |
For Rooms :
|
Company |
Country |
Products |
|
Interlock |
New Zealand |
Concealed Security Chain for Guest Room Doors |
|
Milliken |
USA |
Carpets |
|
Tefal |
France |
Kettles, Ironing Centre, Tray Sets |
|
Panasonic |
Japan |
Plasma, LCD, Massage Lounger and all other items |
|
Grok |
Spain |
Lights |
|
Saflock |
China |
Door Locks |
|
Sanyo |
Japan |
Radio Alarm Clocks |
|
Kleo, Kysu |
Turkey |
Mini bar |
|
Ozone |
India |
Electronic Safes, Weighing Scales |
|
Hettich, Ozone |
India |
Wardrobe/ Rooms Hardware |
|
Springfit |
India |
Mattress and Bed Base |
|
Luxor-Parker |
India |
Pens |
|
FCML |
India |
Signages : In Brass, Stainless Steel, Iron, Glass etc. |
|
FCML |
India |
Light Fittings : Custom made decorative light fittings |
For Table Top and
Kitchen Accessories
|
Company |
Country |
Products |
|
Bormioli Rocco |
Italy |
Complete range of table top glass ware |
|
Durobar |
Belgium |
Glassware |
|
Ocean |
Thailand |
Glassware |
|
Cristal D’Arques |
Paris |
Glassware |
|
Nikko |
Japan |
Bone China and Perception Porcelain Crockery |
|
Patra (Nikko) |
Bangkok |
Kettles |
|
Tefal |
France |
Cutlery, Flatware, Holllow-ware |
|
Mepra |
Italy |
Pepper Mills |
|
Olde Thompson |
USA |
Ice Cube Machine |
|
Brema |
Italy |
Cutlery, Flatware, Hollow-ware |
|
Venus |
India |
Dining Sets, beverage sets, home décor, bath/bar |
|
Artdinox |
India |
Accessories |
|
FCML |
India |
Customized items for table tops |
For Public Area/
Hygiene Products
|
Company |
Country |
Products |
|
Better Living Products |
Canada |
Soap Dispensers |
|
JVD |
France |
Automatic Hand Dryers/ Hair Dryers |
|
Kimberly Clarke |
India |
Soap Dispensers, Soap Refills, Tissue Paper and Dispensers, Tissue: (Toilet/Facial/Kitchen/Inds.) Personal Seat Cover Dispensers, Hand Towels, Utility Wipes |
|
Johnson Diversey Lever |
India |
Soap, Detergents, Mops and Vacuum Cleaners |
|
Shuscho |
India |
Shoe Dryers and Instant Shoe Shine |
|
Black and Decker |
India |
Hair Dryers and Other Accessories |
|
Balsara Home Products |
India |
Promise Toothpaste and Toothbrush, Odonil Sticks, Sanifresh, Room Fresheners |
|
Gillette/Wilkinson |
India |
Razors, Shaving Cream |
|
Ozone |
India |
Staircase Railing/Glazing |
|
Prudent |
India |
Toothpaste and Toothbrush |
|
FCML |
India |
Waste Bins, Decorative Brass items, Planters, Barricading Poles, Display Boards, Newspaper Stands, Panic Bars, Trolleys Signages etc. |
DOMESTIC – TIE-UPS
|
Company |
Products |
|
AOS |
Auto Flash Systems And Auto Tap |
|
Balsara Home Products |
Promise Toothpaste And Toothbrush, Odonil Sticks |
|
BMW |
Wrought Iron Furniture, Decorative Grills |
|
Bombay Dyeing |
Bed Linen, Pillow Covers and Towel |
|
Borosil |
Table- Top Glassware And Other Accessories |
|
Black And Decker |
Hair Dryers And Other Accessories |
|
Diversey Lever |
Soap And Detergents |
|
Duracel |
Battery |
|
Earl Bihari (EBCO) |
Hardware |
|
Gillete/Wilkinson |
Razors And Shave |
|
Hydro Bath |
Acrylic Bath Tubs, Jacuzzi Shower Trays, Body Spray Shower |
|
Kimberly Clark |
Soap Dispensers, Soap Refills, Tissue Paper Dispenser, tissue Paper Personal Seat Cover Dispenser, Hand Towels, Utility Wipes |
|
Krups |
Personal Weighing Scale |
|
Libra |
Personal Weighing Scale |
|
Luxor Parker |
Pens |
|
Never-Slip |
Anti Slip Mats |
|
Oral B |
Tooth Brushes |
|
Ozone |
Electronic Safes, Weighing Scale |
|
Prudent |
Tooth Brush And tooth paste |
|
Siemens |
Hair Dryers |
|
Shushco |
Shoe Shine Machine, Instant Shoe Shine |
|
Snoozer Beddings |
Bed Base And Mattress |
|
Venus |
Chaffing Dish, Hollow-ware, Cutlery |
|
FCML |
Bathroom Accessories – Towel racks, Towel Rail, Grab Bar, Soap Dish, Robe Hook, Shoe Shine Hook, curtain Road, Hide-a-Line, |
|
|
Ashtrays, Dustbins, Decorative Brassware Items, |
|
|
Function Board, Display Board, Barricading Poles and a whole range of other customized items. |
|
FCML |
Signage – In Brass, Stainless Steel, Iron, Glass, etc. |
|
FCML |
Light Fitting – Custom made decorative Light fitting. |
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. 43.17 |
|
UK Pound |
1 |
Rs. 86.46 |
|
Euro |
1 |
Rs. 68.68 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--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 |
|