MIRA
INFORM REPORT
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Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
HARDIK INTERNATIONAL |
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Registered Office : |
No. 17, Ground Floor, Paxal Tower, K R Road, Opposite Vanivilas Hospital,
Bangalore – 560 002, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1999 |
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Com. Reg. No.: |
24092400803 |
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IEC No.: |
0702006751 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRH02144C |
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PAN No.: [Permanent
Account No.] |
AACFH4190E |
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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 Orthopedic and Maxillo Facial Implants
and Surgical Instruments. |
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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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 concern having
satisfactory track. Partners are reported as experienced and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Mukesh M Hadvani |
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Designation : |
Partner |
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Date : |
03.06.2008 |
LOCATIONS
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Registered Office : |
No. 17, Ground Floor, Paxal Tower, K R Road, Opposite Vanivilas
Hospital, Bangalore – 560 002, Karnataka, India |
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Tel. No.: |
91-80-26709091 |
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Mobile No.: |
91-9913134301 / 9844099595 |
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Fax No.: |
91-80-26703566 |
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E-Mail : |
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Website : |
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Area: |
400 Sq.fts |
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Location : |
Owned |
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Factory : |
Plot No. G -2041/2042, Lodhika GIDC, Kishan Gate, Kalwad Road, Metoda-
360 021, District – Rajkot, Gujarat, India |
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Tel. No.: |
91-2827-293301 |
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Fax No.: |
91-80-26703566 |
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E-Mail : |
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Area: |
2600 Sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Mukesh M Hadvani |
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Designation : |
Partner |
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Address : |
Flat No. 302, Rajdhani Pushkardham Road, Kalawad Road, Rajkot – 360 005,
Gujarat, India |
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Date of Birth/Age : |
09.01.1968 |
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Qualification : |
Graduate |
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Experience : |
22 years |
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Name : |
Mr. Mayur M Kalariya |
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Designation : |
Partner |
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Address : |
Flat No. 302, Rajdhani Pushkardham Road, Kalawad Road, Rajkot – 360
005, Gujarat, India |
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Date of Birth/Age : |
12.05.1981 |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Orthopedic and Maxillo Facial Implants
and Surgical Instruments. |
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Exports : |
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Countries : |
Sri Lanka, South America, Gulf, North America, East Africa |
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Terms : |
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Selling : |
L/C, Credit (30 days), Others |
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Purchasing : |
Cash, Credit (60 days) |
GENERAL
INFORMATION
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Suppliers : |
· Avatar Steels, Mumbai, Maharashtra, India · Milan Metal , Mumbai , Maharashtra, India |
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Customers : |
Wholesalers , End Users |
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No. of Employees : |
70 (15 in Office, 15 in Branch and 40 in Factory) |
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Bankers : |
· Bank of Maharashtra, Bangalore – 560 002, Karnataka, India · Bank of India, Rajkot -360 001, Gujarat, India · HSBC Bank, M G Road, Bangalore -560 002, Karnataka, India |
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Facilities : |
- Credit Limit : Rs. 1.500 millions (Bank of Maharashtra) - Operating on own Fund (Bank of India and HSBC Bank) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. M K Bhansali Chartered Accountants |
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Agent / Representatives : |
Network of Dealers in South India and West Bengal |
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Memberships : |
ISO 9001 : 2000 Certified |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
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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Sales Turnover |
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15.000 |
10.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:-
· Tertamed Surgical, Chennai-600 001, Tamil Nadu, India
· Ortho Plus Surgical Kolkata-700 013, West Bengal, India
· Hardik International, Coimbatore-641 018, Tamil Nadu, India
· Ortho Plus Surgical, Bangalore-560 002, Karnataka, India
· Hardik Orthofix, Hyderabad-500 002, Andhra Pradesh, India
· Hardik Orthocare, Coimbatore-641 018, Tamil Nadu, India
· Hemant Surgical, Chennai - 600 001, Tamil Nadu, India
OTHER
INFORMATION:-
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PARAMETER |
DETAIL |
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Existence
Verification |
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Name |
HARDIK INTERNATIONAL |
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Address |
17, Paxal Tower, K R road, Opposite, Vainvillas Hospital, Bangalore –
560 002, Karnataka, India |
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Phone / Mobile Numbers |
91-80-2670 9091 / 91-9913134301 |
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Fax numbers |
91-80-26703566 |
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Electricity Bill |
No separate
Bill. Consolidated bill to land lord only. Power shared with building owners
association |
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Statutory
Approval |
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Legal Status of firm |
Partnership |
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Income Tax Registration |
AACFH4190E |
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VAT / TIN Registration |
29430089355 |
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Import Export Code |
0702006751 |
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Name of Bank |
· HSBC Bank · Bank of India |
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Account Since |
- 6 years (HSBC Bank) - 1999 (Bank of India) |
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Credibility
Factors |
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India Mart Client Since |
+ 6 years |
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Years of Establishment |
1999 |
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Trade
Affiliations |
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SSI Registration |
Yes |
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Export Promotion Council |
Yes |
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Chambers of commerce Membership |
Rajkot |
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Government Recognized Export House Status |
Yes (Bangalore) |
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Other Affiliations |
No |
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Standard and
certifications |
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Quality Management Systems |
ISO 9001 : 2000 |
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Environment Management Systems |
CE Certified Company |
WEBSITE DETAILS:-
Concern profile:
They have a complete range of Implants and Instruments for that
specially mentioned "Intramedullary Nail System". The system
is the result of their real experience in surgical field and is an import
substitute. At the same time it has been widely and enthusiastically accepted
by surgeons all over. According to many surgeons it is the best, simple and
easily available device.
Besides this they are making a wide range of orthopaedic implants and
instruments such as prosthesis screw and plates, screw variations and various
degrees in plates etc.
RAW MATERIALS USED TO MANUFACTURE IMPLANTS: Considering the
qualities of ideal implants and cost-effective manufacturing techniques their
I. L. Nails and other implants are made of stainless steel which complies with
the international ISO standards and relevant national specifications.
The raw material used is imported AISI 316L for their I. L. Nails which are
recommended by the implants committee of I. O. A.
MARKETING CAPACITY: They are marketing their products all over India.
They also extend their hearty gratitude to the client surgeons without whose
co-operation and support they would not have attained this stature. Finally,
they reiterate that HARDIK aims to supply competitively priced products
suitable for both customers in India and outside, meeting highest standards of
quality and reliability through intelligent usage of resources.
PRODUCT:
¤ Locking Bolt
for Interlocking Nail
¤ Wire
¤ Staples
¤ Pin &
Screws for External Fixator
¤ Instruments
for Spine Surgery
¤ Bone Holding
Forceps / Clamp
¤ Bone Levers /
Retractors / Elevators
¤ Osteotomes /
Chisels / Gouges
¤ Instruments
for Harrington Rods
¤ Set for S. P.
Nail / Jewett Nail
¤ Set for 4 mm
Cannulated Cancellous Screws
¤ Set for
Nailing ( Radius / Ulna )
¤ Set for 6.5
mm Cannulated Cancellous Screws
¤ Set for
Intramedullary Nailing for Femur & Tibia
¤ Set for D. H.
S. / D. C. S. Screws
¤ Set for
Interlocking Nail for Tibia & Femur
¤ Set for
Interlocking Nail for Humerus
¤ Set for D. H.
S. & D. C. S. Delux
¤ Basic Set for
4.5 mm & 6.5 mm Screws
¤ Aesculap Type
Set for Metacarpal / Radius / Ulna
¤ A. O. Type
Set for Metacarpal / Radius / Ulna
¤ Aesculap Type
Set for Tibia / Femur / Humerus
¤ A. O. Type
Set for Tibia / Femur / Humerus
¤ Ring Fixator
Set for Tibia / Humerus / Forearm (Small)
¤ Ring Fixator
Set for Tibia (Medium)
¤ Ring Fixator
Set for Femur (Large)
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.86 |
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UK Pound |
1 |
Rs.83.58 |
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Euro |
1 |
Rs.66.17 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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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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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
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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, we have no basis upon which to
recommend credit dealings |
No Rating |
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