MIRA
INFORM REPORT
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Report Date : |
06.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
PERFECT BORING PRIVATE LIMITED |
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Registered Office : |
Plot No. 3822/A, Phase IV B / Hindo – Erman Tool Room GIDC, Vatva,
Ahmedabad – 382445, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.04.2000 |
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Com. Reg. No.: |
04-39563 |
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CIN No.: [Company
Identification No.] |
U29222GJ2001PTC039563 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMP02974G |
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PAN No.: [Permanent
Account No.] |
AACCP7040E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Engineering
Components |
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 62000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed
company having satisfactory track records. Trade relations are fair. Business
is active. Payments are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
Plot No. 3822/A, Phase IV B / Hindo – Erman Tool Room GIDC, Vatva,
Ahmedabad – 382445, Gujarat, India |
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Tel. No.: |
91-79-25841920/ 25841921 |
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Mobile No.: |
91-9879615921/ 9825411450 / 9825605456 |
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Fax No.: |
91-79-25841920 |
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E-Mail : |
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Website : |
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Area : |
2262 Sq.mtrs |
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Location : |
Leased |
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Branches 1 : |
Plot No. 3753/ B, Phase IV,
GIDC, Vatva, Ahmedabad – 382 445, Gujarat, India |
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Area : |
1650 Sq.mtrs |
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Location : |
Leased |
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Branches 2: |
C -1/ B, Plot No. 4622, Phase IV, GIDC, Vatva, Ahmedabad – 382 445,
Gujarta, India |
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Area : |
704 Sq.mtrs |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Vasant Modi |
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Designation : |
Director |
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Address : |
Jaykrishna Bunglows, Jaygurudevnagar, JK Steel Galli, Amraivadi,
Ahmedabad – 26, Gujarat, India |
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Date of Birth/Age : |
12.06.1957 |
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Qualification : |
Mechanical Engineer |
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Date of Appointment : |
18.05.2001 |
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Name : |
Mr. Manoj Modi |
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Designation : |
Director |
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Address : |
Jaykrishna Bunglows, Jaygurudevnagar, JK Steel Galli, Amraivadi,
Ahmedabad – 26, Gujarat, India |
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Date of Birth/Age : |
27.06.1962 |
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Qualification : |
B Sc |
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Date of Appointment : |
18.05.2001 |
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Name : |
Ms. Kusum V modi |
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Designation : |
Director |
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Address : |
Jaykrishna Bunglows, Jaygurudevnagar, JK Steel Galli, Amraivadi,
Ahmedabad – 26, Gujarat, India |
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Date of Birth/Age : |
19.09.1956 |
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Qualification : |
BA |
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Date of Appointment : |
16.08.2001 |
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Name : |
Mr. Vinod Mewada |
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Designation : |
Director |
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Address : |
Madavpark Society, B / H, Swaminarayn Gurukul, Vsastral Road,
Ahmedabad, Gujarat, India |
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Date of Birth/Age : |
07.09.1968 |
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Qualification : |
Diploma Mechanical |
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Date of Appointment : |
16.08.2001 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
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No. of Shares |
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Mr. Vasant Modi |
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250000 |
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Mr. Manoj Modi |
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51300 |
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Mrs. Kusum Modi |
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48700 |
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Total |
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350000 |
(As on 31.03.2007)
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Engineering
Components |
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Products : |
· Parts of Injection Moulding machines, Road Construction Machinery Parts · Parts of Heavy Steel Plants, CNG Gas
Compressor Parts · Pharmaceutical Machinery Parts · Heavy Gear Boxes, etc. · And all other precision machinery works |
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Exports : |
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Countries : |
· Germany · Japan · Korea |
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Imports : |
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Products : |
Machines |
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Countries : |
· Taiwan · Korea |
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Terms : |
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Selling : |
Credit (30 – 90 Days) |
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Purchasing : |
8 to 10 PDC (Advance payment) |
GENERAL
INFORMATION
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Customers : |
Exporters ·
Ferromatik Milacron (I) Limited. ·
The
Indian Sugar General and Engg.Corp. (Isgec) · L And T Case Equipments Private Limited. · Karnavati Engineering Limited. · Premium Energy Transmission Limited. ·
Windsor Machines Limited. ·
Masta
Machinery Stores Private Limited. ·
Dresser-Rand India Private Limited. ·
Sayaji Iron and Engineering Company Limited . ·
Ingersoll – Rand (India) Limited. · Rockwell Structurals (Essar Group |
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No. of Employees : |
100 |
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Bankers : |
Bank of India Ahmedabad Main Branch, Mazzainine Floor, BOI Building, Bhadra,
Ahmedabad – 380 0001, Gujarat, India |
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Facilities : |
CC - Rs. 12.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
RRS and Associates Chartered Accountants |
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Address : |
211 Kamal Complex, Near Stadium Circle, Opposite State Bank of
Saurashtra, Ahmedabad – 380 009, Gujarat, India |
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Tel No.: |
91-79-26561202 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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350000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.500 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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350000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.500 millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.500 |
3.500 |
3.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.847 |
6.568 |
3.712 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.347 |
10.068 |
7.212 |
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LOAN FUNDS |
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1] Secured Loans |
13.963 |
8.736 |
9.070 |
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2] Unsecured Loans |
19.784 |
14.749 |
16.074 |
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TOTAL BORROWING |
33.747 |
23.485 |
25.144 |
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DEFERRED TAX LIABILITIES |
2.305 |
1.224 |
0.579 |
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TOTAL |
51.399 |
34.777 |
32.935 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
43.617 |
31.851 |
25.609 |
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Capital work-in-progress |
0.000 |
0.125 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.679
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2.511 |
1.864 |
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Sundry Debtors |
12.211
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7.781 |
8.133 |
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Cash & Bank Balances |
0.291
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0.183 |
0.247 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
4.813
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1.110 |
2.665 |
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Total
Current Assets |
18.994
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11.585 |
12.909 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
5.189
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0.829 |
4.155 |
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Provisions |
2.868
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2.780 |
1.428 |
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Total
Current Liabilities |
8.057
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3.609 |
5.583 |
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Net Current Assets |
10.937
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7.976 |
7.326 |
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Less: Creditors for capital goods |
[3.155] |
[5.175] |
0.000 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.002 |
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TOTAL |
51.399 |
34.777 |
32.935 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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53.022 |
37.327 |
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Other Income |
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0.027 |
0.036 |
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Total Income |
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53.049 |
37.363 |
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Profit/(Loss) Before Tax |
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7.183 |
4.451 |
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Provision for Taxation |
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1.728 |
1.596 |
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Profit/(Loss) After Tax |
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5.455 |
2.855 |
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Expenditures : |
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Cost of Goods Sold |
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34.125 |
23.207 |
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Administrative Expenses |
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3.360 |
1.888 |
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Financial Charges |
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1.892 |
1.530 |
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Selling and Distribution Expenses |
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2.134 |
2.411 |
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Salaries, Wages, Bonus, etc. |
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1.807 |
0.750 |
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Managerial Remuneration |
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0.796 |
1.508 |
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Payment to Auditors |
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0.056 |
0.035 |
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Depreciation & Amortization |
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1.695 |
1.579 |
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Other Expenditure |
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0.000 |
0.004 |
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Total Expenditure |
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45.865 |
32.912 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total
Income |
(%) |
10.28
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7.64 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
13.54
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11.92 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
11.47
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10.22 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.46
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0.44 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.72
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2.69 |
4.26 |
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Current Ratio (Current Asset/Current Liability) |
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2.35
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3.21 |
2.31 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
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Name of the company |
PERFECT BORING PRIVATE LIMITED |
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Presented By |
Mr. Vasantbhai J
Modi , Director |
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1) Date and
description of instrument creating the change |
Agreement of loan
cum hypothecation of plant and machinery, stock and book debt dated
07.10.2004 executed by M/s perfect Boring Private Limited (hereinafter called
the company) in favour of bank of India, Ahmedabad Main Branch, Ahmedabad
(hereinafter called the Bank) |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 8.500
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 tangible
movable machineries and plant, both present and future and whether installed
or not and whether lying loose or in cases at site or in transit a short
particulars which are disclosed in Part A of the Schedule II of Agreement of
hypothecation , hereunder annexed or which may at any time during the
continuance of this security being in or upon or about the company premises,
godowns at Plot No. No. 3822/A , GIDC Estate, Phase IV, B /H Indo German
Tools Limited, Vatva , Ahmedabad or wherever else the same may be or be held
by any party anywhere to the order and disposition of the borrower or in the
course of transit to the company. All tangible
movable properties and assets of whatsoever nature of the company (both
present and future) and including but without prejudice to the generality of
the foregoing , all stocks of raw materials such as MS plates, Ms round Bars,
CI Castings, SG iron castings, Welding Rods, etc and spares parts, Components
(including spare parts and stores relating to Plant and Machineries both
present and future ) stock in process
of the company wheresoever situates at Plot No. 3822/A GIDC Estate, Phase IV,
B/H Indo German Tool Limited Vatva, Ahmedabad , a short particulars where of
are described in Part B of Schedule II annexed of agreement of hypothecation
, and / or in transit now belonging to or that may at any time to the order
and disposition of the company . All the present
and future book debts outstanding , money receivables , claims, bills which
are now due book debts and owing or which may at any time hereafter during
the continuance of this security become due and owing to the company in the course of its
business by any persons , firm , company or body corporate or by central government or any state
government, or any government department or office or any municipal or local
or public or semi government or authority or any body corporate or
undertaking or project whatsoever. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
First charge by way of hypothecation on all the machineries , stocks,
and book debts as mentioned in item No. 3 above as are or may at any time be
in the possession or power of the company to secure non fund facilities of
Term Loan and working capital facilities aggregating Rs. 8.500 millions and
for due payments of all money whatsoever due owing and payable by the company
to the bank, under or in respect of or in connection with or in anywise
concerning or relating to the aforesaid facilities agreed to be granted and /
or granted by the bank to the company
and also for due repayment of all present and future indebtedness and liabilities of the company accrued
or accruing with all relative whether solely or jointly primary or collateral
accrued or accruing with all relative interest / commission , charges and
expenses and on the terms and conditions as per written hereto with a power
to seize and realize. Cash credit - Stocks Rate of Interest – 1.00% over BPLR p0resently 11.75% p.a with monthly Repayment – on Demand / Annual Review Cash credit – Book debts Rate of Interest – 1.00% over BPLR 11.75% p.a with monthly rests Repayment – On Demand / Annual review IBP / BD / IBN (DP / DA -120 days) Rate of Interest – 1.010% over BPLR presently 11.75% p.a with monthly
rest. Commission – As per Bank rules Repayment – On Demand / Annual Review Tem Loan Rate of Interest – 1.00% over BPLR presently 11.75% p.a with monthly
rest. Repayment: Repayable in 120 quarterly installments of Rs. 0.225
millions each commencing after 6 months from the first disbursement. |
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5) Name and
Address and description of the person entitled to the charge. |
Bank of India,
Ahmedabad Branch, BOI Building, Bhadra, Ahmedabad – 380 001, Gujarat, India |
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6) Date and brief description of instrument
modifying the charge |
Supplemental deed
of hypothecation dated 15.03.2005 covering
the additional working capital limits of Rs. 0.875 millions |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
The bank has
granted the additional CC stock limit of Rs. 0.250 millions (against
hypothecation of stocks ) CC Book debts limit of Rs. 0.625 millions (against
hypothecation of book debts) making aggregate limits of Rs. 9.375 millions
and that the securities being the said movable properties hypothecated and
charged to the bank by the Principal agreement of hypothecation of plant and Machinery , stocks and book
debts shall w.e.f 15.03.2005 shall constitute the security to the bank not
only for existing limit of Rs. 8.500 millions , gut also for the additional
limits of Rs. 0.875 millions making the total of Rs. 9.375 millions ,. Thus
the charge of hypothecation of Plant and Machinery, Stocks and book debts
will operate for Rs. 9.375 millions.
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Corporation identity number or foreign company registrations number of
the company |
U29222GJ2001PTC039563 |
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Name of the company |
PERFECT BORING PRIVATE LIMITED |
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Address |
Plot No. 3822/A, Phase IV B / Hindo – Erman Tool Room GIDC, Vatva,
Ahmedabad – 382 445, Gujarat, India |
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This Form is for |
Modification of charge |
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Type of Charges |
Book Debts Movable property |
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Particular of the charge holder
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Bank of India Address: Ahmedabad Main Branch, Mazzaine Floor, BOI Building, Bhadra,.
Ahmedabad – 380 001, Gujarat, India Email : boiahmedabadr@satyam.net.in
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Nature or description of the instrument creating charge |
Supplemental deed of hypothecation
executed by the company in favour of Bank of India Ahmedabad Main Branch to
secure the modified and increased limits of Rs. 66.609 millions |
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Date of the instrument creating charge |
26.02.2008 |
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Amount Secure by the charge |
Rs. 66.609 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : CC stocks / CC Book Debts / IBP / BD – 0.50% below BPLR presently
12.75% p.a with monthly rests or such other rate as may be prescribed by the
bank from time to time term Loan -
0.50% below BPLR presently 12.75% p. a with monthly rests or such other rate
as may be prescribed by the bank from time to time Guarantee – commission as per bank rule. Terms of Repayment: Cash credit stock / Book debts IBP / BD – On Demand / Annual review Term Loan I – 20 Quarterly installments of Rs. 0.225 millions each Term Loan II 20 Quarterly installments of Rs. 0.500 millions each
commencing 3 months after first disbursement and Interest as and when applied
on monthly basis Term Loan III 16 Quarterly installments of Rs. 2.344 millions each
commencing from Rs. 31.01.2010 and Interest as and when applied on monthly
basis Guarantee – on Demand / annual review. Margin: CC stocks – 25% , CC book debts -40 % , IBP / BD -15% Term Loan I -25% , Term Loan II -35% , Term Loan III -25% Guarantee – 20% Extent and operation of the
Charge: First and exclusive hypothecation charge on all the tangible movable
properties like plant and machinery, stocks of materials, book debts and all
other movable assets of the company to secure the fund based and on fund
based aggregate limits of Rs. 66.609 millions alongwith Interest, additional
limit, penal tint, costs, charges and commission and all such other amount
due to the bank of what so ever nature. Others:
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Short particulars of the Property charged |
All movable plant and machinery both present and future and whether
installed or not and whether lying loose or in case at site or in transit at
factory premises of the company at Plot No. 3822 / A, 3753/ B and 4622/B /1,
GIDC PH IV Vatva Ahmedabad All stock of material raw semi finished goods and finished both
present and future where so ever situate at company factory premises and or
elsewhere All book debts both present and future, bills, outstanding, money
receivables, claims which are now due or become due as per annexure. |
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Particulars of the present modification |
Bank has cancelled Adhoc CC stock
and book debts , realigned term loan I and II granted additional CC
book debts limit of Rs. 9.500 millions , new term loan of Rs. 37.500 millions thus modifying and
increasing the total aggregate limits from Rs. 23.236 millions to Rs. 66.609
millions . thus the first and exclusive hypothecation charge on all the
movable assets like plant and machinery , stocks and book debts and other assets
will operate for Rs. 66.609 millions w.e.f 26.02.2008, details as per
annexure. |
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TRADE REFERENCES:
· Ferromatik Milacron (I) Limited. Ahmedabad, Gujarat, India
· The Indian Sugar General And Engineering Corp (ISGEC), Yamuna Nagar, Haryana, India
· L And T Case Equipments Private Limited, Pithampur, Madhya Pradesh, India
· Karnavati Engineering Limited, Mehsana, Gujarat, India
WEBSITE DETAILS:
The Company is a manufacturer of precision machining job as per sample/drawing in mild steel, brass, steel, aluminum catering to heavy industries like cement, pharmaceuticals, textile, and engineering units.
They provide a package of services to support the schedules and/or emergency
equipment needs. They operate two full-time shifts and 24/7 paging for
scheduled and emergency service.
They conduct a detailed study of the latest technology in precision machining
and boring works in order to combine all the beneficial technology and to
produce products, which are impeccable and faultless.
Services
Machining of precision tolerance components on HMC and DCMC and Heavy Duty Components on CNC/Conventional Horizontal Boring Machines, Floor Boring Machines, Heavy Duty Lathes and Radial Drill Machines and Fabrication Works.
Client List:-
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Clients Name |
Products |
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Ferromatik Milacron
(I) Limited Ahmedabad, Gujarat |
All Types of Plastic
Injection Moulding Machines. (Hydrallics and Mechanicals) |
|
The Indian Sugar General And Engg.Corp.
(ISGEC) |
Mechanical and
Hydraulics |
|
L And T Case
Equipments Private Limited |
Road Constructions
Equipments Like Loaer Machines, Vibrators |
|
Karnavati
Engineering Limited |
Pharmaceutical
Machinery |
|
Premium Energy
Transmission Limited |
Heavy Gear Boxes |
|
Windsor Machines
Limited |
All Types of Plastic
Injection Moulding Machines. (Hydrallics and Mechanicals) |
|
Masta Machinery Stores Private Limited |
Manufacutring Of Bearing Housings |
|
Dresser-Rand India
Private Limited. |
Heavy Air/Gas
Compressors |
|
Sayaji Iron And
Engineering Company Limited |
Manufacutring of Jaw Crushers |
|
Ingersoll – Rand (India) Limited |
Manufacturing of Compressor Machine |
|
Rockwell Structurals
(Essar Group) |
Steel Plant Machinery |
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.42.86 |
|
UK Pound |
1 |
Rs.83.58 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|