MIRA
INFORM REPORT
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Report Date : |
09.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
GUJARAT PRINT PACK PUBLICATION LIMITED |
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Registered Office : |
201, Harsh Avenue, 2nd Floor, Navjivan Press Road, Ashram
Road, Ahmedabad, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.06.1994 |
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Com. Reg. No.: |
04-22238 |
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CIN No.: [Company
Identification No.] |
U22210GJ1994PLC022238 |
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Legal Form : |
A Closely Held Public Limited Liability company. |
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Line of Business : |
Manufacturing and marketing of Printing Packing Materials like Printed
Cartons, Printed Corrugated Boxes, Universal Corrugated Boxes, etc. |
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 130000 |
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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 meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Narendra Prajapati |
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Designation : |
Accounts Head |
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Contact No.: |
91-2762-224014 |
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Date : |
04.06.2008 |
LOCATIONS
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Registered & Marketing Head Office : |
201, Harsh Avenue, 2nd Floor, Navjivan Press
Road, Sattat Taluka Society, Ashram
Road, Ahmedabad, Gujarat, INDIA |
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Tel.
No.: |
91-79-27545314, 27545414 |
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Mobile
No.: |
91-98250 73614 [Mr. Rajesh Modhwadia] |
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Fax
No.: |
91-79-27545914 |
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Email
: |
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Website
: |
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Area : |
Owned |
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Factory
1 : |
308-9,
G.I.D.C., Dediyasan, Mehsana - 384 002 Gujarat, INDIA |
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Tel.
No.: |
91-2762-224014 ,224214 |
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Mobile
No.: |
91-98250 73914 |
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Fax
No.: |
91-2762-224914 |
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Factory
2 : |
Khasra, 278/26, Opposite Black Mango Hotel, Nahan Road, Village-Ougli,
Kala Amb, Dist. Sirmor, Himachal
Pradesh |
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Mobile
No.: |
91-9318917014 |
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Email
: |
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Overseas
Office : |
209 MST Building Bank Street, P
O Box :43978, Dubai-UAE. |
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Tel.
No.: |
+97-104-3514456 |
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Mobile
No.: |
+91-150-4216030. |
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E-Mail
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Branches
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Located at :
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DIRECTORS
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Name : |
Mr. Ambubhai V. Patel |
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Designation : |
Chairman & Managing Director
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Address : |
31-B Vinaynagar Society, Mahsana – 384002, Gujarat |
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Date of Birth/Age : |
11.04.1929 |
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Date of Appointment : |
10.08.1994 |
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Name : |
Mr. Ashish A. Patel |
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Designation : |
Whole Time Director |
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Address : |
31-B Vinaynagar Society, Mahsana – 384002, Gujarat |
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Date of Birth/Age : |
29.12.1965 |
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Date of Appointment : |
10.06.1994 |
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Name : |
Mrs. Kamlaben A. Patel |
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Designation : |
Director |
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Address : |
31-B Vinaynagar Society, Mahsana – 384002, Gujarat |
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Date of Birth/Age : |
10.05.1937 |
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Date of Appointment : |
01.10.1996 |
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Name : |
Mr. Ugrabhai V. Patel |
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Designation : |
Director |
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Address : |
Shrusshti, 10 and 11, Mantri Kishor Park, Range Hill Road, Bhosle
Nagar, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
19.03.1941 |
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Date of Appointment : |
11.03.2007 |
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Other Directorship : |
Gold Leaf Investments Private Limited U65993PN2005PTC021688 Advent Software Limited U74200PN1999PLC013555 Sterling Premises Private Limited U45201PN2004PTC019297 |
KEY EXECUTIVES
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Name : |
Mr. Rajesh Modhwadia |
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Designation : |
General Manager Marketing & Sales (India &
Overseas Operations) |
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Mobile No.: |
91-98250 20914 |
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Email : |
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Name : |
Mr. Ashish Patel |
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Designation : |
Chief Executive Officer |
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Address : |
91-98250 37914 |
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Date of Birth/Age : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Ashvin Mody |
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1714 |
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Bharti Chimanbhai Patel |
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1143 |
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Bharatkumar Dwarkadas Patel |
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1143 |
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Chimanlal Khodidas Patel |
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1143 |
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Devchandbhai Umedbhai Patel |
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1143 |
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Dwarkadas Vanarsidas Patel |
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1143 |
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Geeta Bhogilal Patel |
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1714 |
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H. V. Patel [H. U. F.] |
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2286 |
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Harjivanbhai Patel |
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2286 |
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Jayshree Akshat Patel |
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1829 |
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Jignesh Bhogilal Patel |
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1714 |
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Maniben Ugarchandbhai Patel |
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11429 |
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Manisha Manoj Modi |
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1714 |
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Manoj Jayantilal Modi |
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1714 |
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Mina Patel |
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2286 |
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Ramaben Harjivandas Patel |
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2286 |
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Sankuben Khodidas Patel |
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1143 |
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Ugarchand Vanarasidas Patel |
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22857 |
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Ashish Ambubhai Patel [HUF] |
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114286 |
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Ketan S. Patel |
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10000 |
AS ON 29.09.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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94.00 |
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Other top fifty shareholders |
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6.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and marketing of Printing Packing Materials like Printed
Cartons, Printed Corrugated Boxes, Universal Corrugated Boxes, etc. |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Machinery and Paper |
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Countries : |
France |
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Terms : |
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Purchasing : |
International – L/C National – Credit |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
260 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Virendra Chinubhai and Company Chartered Accountants |
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Address : |
1-2-3, First Floor, Vyapar Bhawan, Visnagar, Gujarat, INDIA |
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Tel. No.: |
91-2765-2134 / (Res.) 31438 |
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Mobile No.: |
91-98250 21438 |
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Fax No.: |
91-2765-30489 |
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Associates/Subsidiaries : |
Kruti Print Pack Activities : Offset Printing & Packaging |
CAPITAL STRUCTURE
AS ON 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1495000 |
Equity Shares |
Rs. 10/- each |
Rs. 14.950 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
14.950 |
14.950 |
14.950 |
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2] Share Application Money |
0.000 |
1.106 |
0.000 |
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3] Reserves & Surplus |
11.726 |
9.803 |
14.337 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
26.676 |
25.859 |
29.287 |
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LOAN FUNDS |
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1] Secured Loans |
48.357 |
28.083 |
31.535 |
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2] Unsecured Loans |
29.228 |
17.707 |
15.690 |
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TOTAL BORROWING |
77.585 |
45.790 |
47.225 |
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DEFERRED TAX LIABILITIES |
8.739 |
6.880 |
0.145 |
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TOTAL |
113.000 |
78.529 |
76.657 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
76.791 |
50.324 |
50.674 |
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Capital work-in-progress |
2.272 |
1.959 |
1.227 |
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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 |
13.718
|
16.258 |
13.272 |
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Sundry Debtors |
50.902
|
37.562 |
30.661 |
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Cash & Bank Balances |
1.267
|
1.107 |
1.034 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
9.342
|
2.787 |
3.258 |
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Total
Current Assets |
75.229
|
57.714 |
48.225 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
39.658
|
30.531 |
22.341 |
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Provisions |
1.634
|
0.937 |
1.128 |
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Total
Current Liabilities |
41.292
|
31.468 |
23.469 |
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Net Current Assets |
33.937
|
26.246 |
24.756 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
113.000 |
78.529 |
76.657 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
117.900 |
105.035 |
95.873 |
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Other Income |
0.021 |
0.027 |
0.006 |
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Total Income |
117.921 |
105.062 |
95.879 |
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Profit/(Loss) Before Tax |
4.029 |
2.579 |
0.882 |
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Provision for Taxation |
2.346 |
0.804 |
0.000 |
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Profit/(Loss) After Tax |
1.683 |
1.775 |
0.882 |
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Earnings in Foreign Currency |
NA |
0.473 |
0.825 |
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Expenditures : |
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Raw Material Consumed |
78.507 |
69.832 |
68.114 |
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Consumption of stores and spares parts |
0.000 |
0.000 |
0.231 |
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Increase/(Decrease) in Finished Goods |
0.028 |
0.104 |
[0.165] |
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Salaries, Wages, Bonus, etc. |
5.526 |
2.836 |
2.287 |
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Managerial Remuneration |
0.420 |
0.560 |
0.840 |
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Payment to Auditors |
0.070 |
0.055 |
0.040 |
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Interest |
6.892 |
6.177 |
4.358 |
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Insurance Expenses |
0.436 |
0.319 |
0.262 |
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Power & Fuel |
2.064 |
2.098 |
2.333 |
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Depreciation & Amortization |
3.616 |
3.228 |
2.903 |
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Other Expenditure |
16.333 |
17.274 |
13.794 |
|
Total Expenditure |
113.892 |
102.483 |
94.997 |
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Estimated Sales (2007-08) : Rs.120.000 Millions
Expected Sales (2008-09) : Rs.150.000 Million
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.43
|
1.69 |
0.92 |
|
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Net Profit Margin (PBT/Sales) |
(%) |
3.42
|
2.46 |
0.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.65
|
2.39 |
0.89 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.10 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.46
|
2.99 |
2.41 |
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Current Ratio (Current Asset/Current Liability) |
|
1.82
|
1.83 |
2.05 |
LOCAL AGENCY
FURTHER INFORMATION
The company is in
trade terms with:
- Ajanta
Transistors Clock Manufacturing Company & Ellora Time Private Limited,
Morxi
- United
Phosphorus Limited, Mumbai, Maharashtra, INDIA
- BASF India
Limited, Mumbai, Maharashtra, INDIA
- Torrent
Pharmaceuticals Limited, Ahmedabad, Gujarat, INDIA
- Intas
Pharmaceuticals Limited, Ahmedabad, Gujarat, INDIA
- Cadila
Pharmaceuticals Limited, Ahmedabad, Gujarat, INDIA
Fixed Assets
- GIDC Land
- GIDC Resident
plot
- Building
- Plant &
Machinery
- Electric
Fitting
- Furniture
Fixture
- Scooter/Cycle
- Tata Truck
- Motor Car
- Office
Equipment
- Lab
Equipments
- Generator
Bankers Charges
Report as Per Registry
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified
|
80024164 |
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Corporate
identity number of the company |
U22210GJ1994PLC022238 |
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Name of the
company |
GUJARAT PRINT PACK PUBLICATION LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
201, Harsh Avenue, 2nd Floor, Navjivan Press Road, Ashram
Road, Ahmedabad, Gujarat |
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Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of Baroda, Industrial Estate Branch, State Highway, Mehsana –
384002, Gujarat, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
entry dated 06.11.2003 of equitable mortgage created on a first charge basis
lastly modified in favour of Bank of Baroda, Industrial Estate Branch,
highway, Mehsana – 384002 in 17.09.2004 again modified by way of extension of
fresh term loan of Rs. 22.500 Million making total limits to Rs. 54.533
Millions |
|
Date of
instrument Creating the charge |
09.02.2007 |
|
Amount secured by
the charge |
Rs. 54.533
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Term loan of Rs.
14.000 Millions = 12.50 % p.a. over BPLR 0.50 % Fresh Term Loan :
Rs. 22.500 Millions = 11.50 % p.a. over BPLR 0.50 % Term Loan of Rs.
5.533 Millions = 11.50 % p.a. over BPLR 0.75 % Cash Credit of
Rs. 12.500 Millions = 11.25 % p.a. over BPLR 0.75 % Terms of
Repayment Term Loan – I of
Rs. 14.000 Millions Repayment in 20
quarterly instalments Fresh Term Loan
Rs. 22.500 Millions Repay in 20 quarterly
instalments starting after Six Months of Disbursement Cash Credit of
Rs. 12.500 Millions Repayment on
Demand Working capital
term loan of Rs. 5.533 Millions Repayment in
quarterly installment of Rs. 0.150 Million
Margin Term loan = 25 % Cash Credit = 25
% for Stock and 35 % Book Debts Extent and
Operation of the charge Term loan is
secured by way of hypothecation of moveable machinery and cash credit is
secured by way of hypothecation of stock and book debts Equitable mortgage
on a first charge basis lastly modified in favor of Bank of Baroda,
Industrial Estate Branch, Highway, Mehsana – 384002 on 17.09.2004 again
modified by way of extension of fresh term loan of Rs. 22.500 Millions making
total limits to Rs. 54.533 Millions on first charge basis |
|
Short particulars
of the property charged |
Equitable
mortgage of the factory premises of the company situated at Plot No. 308/309
in GIDC Phase – II at Dediyasan, Mehsana consisting of R. S. No. 811/812/813
situated within the village limits of Nagalpur, Taluka, Mehsana, District
Mehsana adm. 3898.50 meters. |
|
Date of latest
modification prior to the present modification |
17.09.2004 |
|
Particulars of
the present modification |
Lastly modified equitable
mortgage for the total limits of Rs. 37.880 Millions dated 17.09.2004 again
modified by way of sanction of fresh term loan of Rs. 22.500 Millions making
total limits of Rs. 54.533 Millions extension of equitable mortgage of the
factory premises of the company situated at Plot No. 308/309 in GIDC Phase –
II at dediyasan, Mehsana consisting of R. S. No. 811/812 and 813 situated
within the village limits of Nagapur, Taluka, Mehsana district Mehsana adm
3898.50 Meters. |
AS PER WEBSITE
Profile
Subject is package design,
printing, packaging and labeling company manufacturing broad range of labels,
corrugated boxes, stickers, printed cartons and providing package design
solutions with wide applications in food industry, beverages industry, cosmetic
industry, and pharmaceutical industry.
Subject provides innovative package designing and printing
solutions vital for corporate identity. Due to innovative techniques, state of
the art manufacturing facility, research & development, and rigorous
quality control measures they have developed an inherent ability to manufacture
a wide range of corrugated box, offset box, printed cartons, duplex board
cartons, multi-coloured cartons, embossed cartons, foil stamped cartons, UV coated
cartons, sticker labels, clear sticker labels, card board boxes, holographic
labels, thermal pressure sensitive labels and package design and printing
solutions.
Subject is India’s first printing, packaging, labeling and designing company to
receive ISO 9002 certification, which assure customers of highest quality
products at par with international standards. Subject’s range of printing and
packaging solutions is widely acclaimed for quality and consistency. They are
committed to strive constantly and innovate the entire range of printing,
packaging and labeling solutions to provide exciting and feasible solutions to
customers.
However, imaginative packing enterprise draw packaging concepts from all these
creations-strength, safety, compactness, tamper-proof integrity, aesthetic
finish, shock resistance.
This corporate profile tells the story of a company that has been providing
superlative Designing, Packaging, Printing & Labeling solutions to a
quality-conscious clientele that spans all industrial segments.
A company that has continually upgraded its technology & capacity in sync
with the newer Packaging & Labelling techniques, trends and demand that
emerged over time.
GP3---Gujarat Print Pack Publications Limited. A company, that innovates to
succeed.
Infrastructure :
Pre-ordained For Excellence.
Subject executes its Printing, Packaging & Labelling assignments at an 8000
sq.m plant based in Mehsana, with 55,000 sq.ft of constructed area. The plant
is equipped with world-class machineries for Design & Graphics,
Multi-colour Printing, Multi-ply Corrugation, and Sticker Labelling etc.
It also features facilities such as UV Coating, Bobst Die
Cutting Machine, Bobst Folder Gluer, Six Colour Flexo Printing, Artios
Softwares for box structure designing, Computerised Heidlberg CPC Machine, Hot
foil Stamping Machine, etc.
The subject plant is an integrated, self-sufficient unit, with high-quality
infrastructure for power, transportation etc. It also incorporates hi-tech
Quality Control equipment to monitor & maintain quality at every stage. All
the processes at the GP3 plant are cross integrated, enabling the company to
conduct its various operations under one roof, and offer comprehensive services
to its clients.
Business is the most productive release of human energy. It creates new
economies, new brands, new corporate legends, and new aspirations. It builds
new communities of worker and consumers. In that sense, it is nation-building
itself, in a micro-level.
Comprehensive On-Line Process.
Management Through In-house Software :
Subject employs exclusive, multifaceted software developed in-house, to monitor
and control its order processing & supply deadlines. This intelligent
software, named OPS (Online Print-Pack Solutions), enables the management cell
of GP3 to keep track of the numerous functions involved in the company's
day-today operations: Order Booking Requirements, Query Management, Job
Processing, Job Status Monitoring, Delivery Intimation... the whole gamut
Infact, the innovative OPS Software enables subject to maintain a paperless
office, and to observe precise adherence to deadlines & deliveries.
The subject studio employs state-of-the-art software such as ARTIOS, for
package Design & Box Structuring.
Firm
Leadership
Subject is a part of a corporate group with a 25-year track
record, and a multifaceted portfolio. The Founder-Chairman & Managing
Director, A V Patel, is a technocrat
with more than 25 years of experience in the Printing industry.
Ashish Patel, is the
CEO of subject. An innovative Printing Technologist himself and an innovative
entrepreneur, he steers the day-to-day operations of the company with his
inspirational leadership and corporate acumen.
A team of professional in Management, Printing, Packaging
&Labeling technologies, Graphic Design, strategising, conceptualizing,
Marketing, etc. from the second line of command. They are backed by
experienced, skilled workmen on the floor.
Human
Talent + Global Technology + Superlative Services = Positive Success Recipe
Subject’s
expert action force creates micro-precise Packaging solutions for its
clientele. These are value-added further by high-quality graphic design &
exclusive, multifaceted Printing Services (offered as an additional, customized
service, exclusively to GP3's Packaging solutions clients).
Today,
subject has a total employee strength of 200, including 75 skilled Laborers.
And a recruitment drive is on, to meet rising requirements and new technology
induction. Over the years, the company has evolved a truly remarkable way of
interactive functioning, based on a shared vision of entrepreneurial
excellence.
Team
So
much so, that at subject, other than the two leaders mentioned above, no one
even carries a protocol-based designation.
At subject, there are no bosses, only leaders. There are no followers, only
co-travellers, and the journey to higher success continues.
Companies
are not run by the proprietors. They are run by the workmen and the
professionals who man the shopfloors, the plants & the offices. But they in
turn are run by the proprietors. So, business is all about running people.
Pre-Press
Ever since the conception of subject modernization has been the
core of business affairs. Subject has invested heavily in state-of-the art
design studio & pre-press equipments of international standards. The
In-House studio is fully equipped to handle complex requirements of clients by
implementing balanced use of technology and superior infrastructure. Subject
provides cost-effective and customized solutions aligned to the needs of
organizations strategic goals.
The design studio consists of technologically superior equipments
like
- High Resolution Digital Camera
- High Speed Apple Macintosh Laptop
- High Resolution Scanner
- Colour Printer
The In-House pre-press facilities are fully equipped to
manufacture corrugated boxes, offset box and package designing solutions
compatible with international standards.
Pre-Press Equipments used by subject are one of its kinds in
Gujarat. Some of the equipments are as follows,
- Apple
Macintosh Computers
- High
Resolution Scanner
- Image Setter
- Digital
Printer
- Digital
Camera
- Plate Making
& Processing equipment
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.79 |
|
UK Pound |
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.66.71 |
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 |
|