MIRA
INFORM REPORT
|
Report Date : |
19.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VINYROYAL
PLASTICOATES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
60 CD, Shlok Government Industrial Estate, Charkop, Kandivali
(West), Mumbai 400067, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
20.01.1992 |
|
|
|
|
Com. Reg. No.: |
11-64946 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24134MH1992PTC064946 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV09661B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACV4165E |
|
|
|
|
Legal Form : |
Private Limited Liability
Company |
|
|
|
|
Line of Business : |
Manufacture, Sell
or otherwise Deal in Polymer Products of various kinds and forms including
Polyvinyl Chloride/Polyurethane Films, Sheets, Coated Articles like Cloth,
Floor Coverings, Wall Coverings, etc. |
RATING &
COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 220000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company but director are involved in sinking
group and Samsons whose important company called Royal Cushion Vinyl Limited
is sick company. Their family controlled company. The National Leather Manufacturing
Company is no more active and disposed factory land to repay the dyes. Management is not favourasly spoken. Their payments are slow and delayed. The company can be considered for any business dealings on safe and secured trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
60 CD, Shlok Government Industrial Estate, Charkop, Kandivali
(West), Mumbai 400067, Maharashtra |
|
|
|
|
Head Office : |
4th Floor,
Shri Kamdhenu Estate, Malad (East), Mumbai 400 064, Maharashtra, India |
|
Tel. No.: |
91-22-40039110/40039111 |
|
Fax No.: |
91-22-28773591 |
|
E-Mail : |
|
|
Website.: |
|
|
|
|
|
Factory 1 : |
The National Leather Cloth Mfg Co., Plot B Behind National Avenue,
Akurli Road, Kandivali (East), Mumbai 400101, Maharshtra |
|
Tel. No. |
91-22-28879221 |
|
Fax. No.: |
91-22-28879227 |
|
|
|
|
|
|
|
Factory 2 : |
Plot No. 319,
Village Baska, Taluka Halol, District Panchmahal, Gujarat 389
350, India |
|
|
|
|
Branches : |
Located at:- Ramkrupa, 25, Parekh
54, Prarthana Samaj, Parekh Market, Mumbai 400 004, Maharashtra, India |
DIRECTORS
|
Name : |
Mr. Priyavadan
Chandrashanke Rawal |
|
Designation : |
Director |
|
Address : |
B-203, Guru Nanak Apartments, Shankar Lane, Kandivali (East), Mumbai
400 067, Maharashtra |
|
Date of Birth/Age : |
21.05.1945 |
|
Date of Appointment : |
01.08.2000 |
|
Election Commission Identity Card No. : |
MT/09/044/98126 |
|
|
|
|
Name : |
Mr. Deepak
Amritlal Shah |
|
Designation : |
Director |
|
Address : |
A-4, Abhinav Apartment, Chatrapati Shivaji Road, Kandivali [West],
Mumbai 400067, Maharashtra |
|
Date of Birth/Age : |
16.04.1958 |
|
Date of Appointment : |
01.02.2003 |
|
|
|
|
Name : |
Mr. Ashwin
Somanlal Shah |
|
Designation : |
Director |
|
Address : |
20/8, Sindhi Colony, Sion- West, Mumbai 400022, Maharashtra |
|
Date of Birth/Age : |
02.12.2001 |
|
Date of Appointment : |
29.10.2004 |
KEY EXECUTIVES
|
Name : |
Mr. Ashwin
Somanlal Shah |
|
Designation : |
Secretary |
|
Address : |
A-4, Abhinav Apartment, Chatrapati Shivaji Road, Kandivali [West],
Mumbai 400067, Maharashtra |
|
Date of Birth/Age : |
16.04.1958 |
|
Date of Appointment : |
09.01.2001 |
|
Date of Ceasing: |
29.10.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2005
|
Names of
Shareholders |
|
No. of Shares |
|
Vijayjyot Seats
Private Limited |
|
78400 |
|
Bhaktavatsala
Trading and Consultancy Services Private Limited |
|
39680 |
|
Sughosh Trading
and Consultancy Services Private Limited |
|
26453 |
|
Shreedaha Trading
and Consultancy Services Private Limited |
|
26454 |
|
Sahishnu Trading
and Consultancy Services Private Limited |
|
26454 |
|
Lokswami Trading and
Consultancy Services Private Limited |
|
12865 |
|
Triloktman
Trading and Consultancy Services Private Limited |
|
39681 |
|
Mrs. Hansa Arvind
Motasha |
|
2 |
|
Mrs. Anuradha J
Jhaveri |
|
1 |
|
Mrs. Kaumadi A.
Mehta |
|
1 |
|
Mr. Babulal T.
Shah |
|
1 |
|
Mrs. Bharati B.
Shah |
|
1 |
|
Mr. Bharat B.
Shah |
|
1 |
|
Mr. Ketan B. Shah
|
|
1 |
|
Mr. Ketan B. Shah
HUF |
|
1 |
|
Nikita B. Shah |
|
1 |
|
Rajshri Ketan
Shah |
|
1 |
|
Shardaben B. Shah
|
|
1 |
|
Amrutben G. Shah |
|
1 |
|
Mrs. Jayhree M.
Shah |
|
1 |
|
Mrs. Dipti Jayesh
Motasha |
|
1 |
AS ON 31.03.2007
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
99.99 |
|
Directors or relatives of directors |
|
0.01 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture, Sell
or otherwise Deal in Polymer Products of various kinds and forms including
Polyvinyl Chloride/Polyurethane Films, Sheets, Coated Articles like Cloth, Floor
Coverings, Wall Coverings, etc. |
|
|
|
|
Products : |
v
Artificial
Leather Cloth v
Polyvinyl
Chloride/Polyurethane Films and Sheets v
Coated
Articles like Cloth, Floor Coverings, Wall Coverings |
|
|
|
|
Brand Names : |
Toyoto, Ford,
Maruti, Flat and Volvo. |
GENERAL
INFORMATION
|
Customers : |
Some of its
major customers are :- v
Ajanta
Pharma Limited, Mumbai, Maharashtra v
Alembic
Limited, Baroda, Gujarat v
Alkem
Laboratories Limited, Daman, Union Territory v
Ambalal Sarabhai
Enterprises Limited, Baroda, Gujarat v
Asoj
Softcapsules Private Limited, Halol, Gujarat v
Bharat
Parental Limited, Baroda, Gujarat v
Bombay
Brush, Indore, Madhya Pradesh v
Cadila
Pharmaceuticals Limited, Ahmedabad, Gujarat v
Contemporary
Targett Limited, Baroda, Gujarat v
Core
Healthcare Limited, Ahmedabad, Gujarat v
Elesium
Pharmaceuticals Limited, Baroda, Gujarat v
Goa
Antibiotics Limited, Goa v
Gujarat
Liquid Pharmaceuticals Limited, Baroda, Gujarat v
Helious
Pharmaceuticals Limited, Kadi v
IPCA
Laboratories Limited (All Units in India) v
J. B.
Chemicals Limited, Ankleshwar, Gujarat v
Jewel
Brushes Limited, Baroda, Gujarat v
Knoll Pharma
Limited, Goa/Jejuri v
Lincon
Pharmaceuticals Limited, Ahmedabad, Gujarat v
Maneesh
Pharmaceuticals Private Limtied, Mumbai, Maharashtra v
Mepro
Pharma, Surendranagar, Gujarat v
Park Davis
Limited, Hyderabad, Andhra Pradesh v
Swiss Pharma
Private Limited, Ahmedabad, Gujarat v
Themis
Chemicals Limited, Vapi, Gujarat v
Troikka
Pharmaceuticals, Kalol, Gujarat v
Tuton
Pharma, Ahmedabad, Gujarat, v
Unison Pharma,
Ahmedabad, Gujarat v
Vapi Care
Pharma Private Limited, Vapi, Gujarat v
Vidyut
Mettalics Limited, Mumbai, Maharashtra v
Yash Pharma
Laboratories Limited, Daman, Union Territory |
|
|
|
|
No. of Employees : |
About 200 |
|
|
|
|
Bankers : |
v
Dena Bank, Industrial
Finance Branch, Mumbai 400 005, Maharashtra, India §
v
Union Bank
of India, Overseas Branch, Ground Floor, 239, Vidhan Bhavan Marg, Nariman
Point, Mumbai 400021 Tel No. : 91-22-22821855
/ 22892000 / 22821761 Fax No.: 91-22-22821791 Website : http:///www.unionbankofindia.com Email : overseas@unionbankofindia.com
v
Union Bank
of India, Overseas Branch, 391 Diamond Plaza, D B Marg, Mumbai 400004,
Maharashtra v
Dena Bank, S
V Road, Kandivli (West), Mumbai 400067 |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
Unknown |
|
|
|
|
Auditors : |
|
|
Name : |
Nikhil C. Raja
& Company Chartered
Accountants |
|
Address : |
B/204, Sunder
Baug, Mathuradas Road, Kandivali (West), Mumbai 400 067, Maharashtra, India
|
|
Tel. No.: |
91-22-30962549 |
|
|
|
|
Name : |
Manek &
Associates Chartered
Accountant |
|
Address : |
3, Shanti Kun, 17 Prarthana Samaj Road, Vile Parle (East), Mumbai
400057 |
|
|
|
|
Associates/Subsidiaries : |
·
The National
Leather Cloth Manufacturing Company Plot B, Behind National
Avenue, Akurli Road, Kandivali [East], Mumbai 400101, Maharashtra, India Tel No.:
91-22-28879221 Fax No.:
91-22-28879227 ·
Pneumatic
Conveying Systems ( India ) Private Limited ·
Vijayjyot
Seats Private Limited Plot B, Behind National Avenue, Akurli Road, Kandivali (East), Mumbai 400 101, Maharashtra Tel. 91-22-28879221/25/28871836 Fax. 91-22-28879227 E-mail. mktg@samsons.com Website. http://www.samsons.com ·
Royal Cushion
Vinyl Products Limited Plot B, Behind National Avenue, Akurli Road, Kandivali (East), Mumbai 400 101, Maharashtra Tel. 91-22-28879221/25/28871836 Fax. 91-22-28879227 E-mail. mktg@samsons.com Website. http://www.samsons.com ·
Royal
Knitting Private Limited Akurli Road, Kandivali (East), Mumbai 400 101, Maharashtra Tel. 91-22-28879221/25/28871836 Fax. 91-22-28879227 E-mail. mktg@samsons.com Website. http://www.samsons.com ·
Vijay
Knitting Private Limited |
CAPITAL STRUCTURE
AS ON 31.3.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3,00,000 |
Equity Shares |
Rs.100/-
|
Rs. 30.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2,50,002 |
Equity Shares |
Rs. 100/- |
Rs. 25.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
25.000 |
25.000 |
25.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
20.302 |
25.154 |
37.310 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
45.302 |
50.154 |
62.310 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
15.994 |
23.496 |
29.335 |
|
|
2] Unsecured Loans |
75.723 |
82.789 |
17.079 |
|
|
TOTAL BORROWING |
91.717 |
106.285 |
46.414 |
|
|
DEFERRED TAX LIABILITIES |
1.139 |
5.009 |
6.311 |
|
|
|
|
|
|
|
|
TOTAL |
138.158 |
161.448 |
115.035 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
45.611 |
58.801 |
37.959 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.089 |
0.089 |
0.089 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.493
|
52.121 |
45.496
|
|
|
Sundry Debtors |
199.887
|
210.222 |
162.230
|
|
|
Cash & Bank Balances |
10.196
|
11.523 |
10.178
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
230.183
|
155.648 |
59.482 |
|
Total
Current Assets |
494.759
|
429.514 |
277.386 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
399.341
|
323.826 |
200.399 |
|
|
Provisions |
2.960
|
3.130 |
0.000 |
|
Total
Current Liabilities |
402.301
|
326.956 |
200.399 |
|
|
Net Current Assets |
92.458
|
102.558 |
76.987 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
138.158 |
161.448 |
115.035 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2005 |
|
|
Sales Turnover |
|
|
691.504 |
|
|
Total Income |
|
|
691.504 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.969 |
|
|
Provision for Taxation |
|
|
(0.315) |
|
|
Profit/(Loss) After Tax |
|
|
1.284 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
|
|
344.406 |
|
Total Earnings |
|
|
344.406 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
|
|
84.725 |
|
Total Imports |
|
|
84.725 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Other Expenditure |
|
|
109.769 |
|
Total Expenditure |
|
|
109.769 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
--
|
-- |
0.18
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
--
|
-- |
0.14
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
--
|
-- |
0.30
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
--
|
-- |
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.90
|
8.63 |
5.06
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.31 |
1.38
|
LOCAL AGENCY
FURTHER INFORMATION
Profile
The saga of Samsons
commenced in the beginning of the third decade i.e. in 1932 under the
entrepreneurship Late Shri.Gandalal Shah and Mr. Vadilal Motasha at a young age
of 18, selling Tonga wheels; ancillaries; lantern carriers and later began
selling automobile parts under the name of 'Motor Hood Depot' in Mumbai.
The pioneering entrepreneur of the group started the flagship company NLC in 1962. It is engaged in manufacturing of Artificial Leathercloth and is one of the largest manufacturers in the world with installed capacity of 13.5 million square meters with 3 Coating lines.
The companys fixed
assets of important value includes factory building, office premises, plant
& machinery, electrical installation, vehicles, furniture & fixtures,
office equipment, tempo (goods) etc.
Form 8 Particular for creation or modification of charges
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90154459 |
|
Corporate
identity number of the company |
U24134MH1992PTC064946 |
|
Name of the
company |
VINIROYAL
PLASTICOATES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
4th
Floor, Shri Kamdhenu Estate, Malad (East), Mumbai 400 064, Maharashtra,
India |
|
Type of charge |
Book Debts Movable Property Immovable
Property Others |
|
Particular of
charge holder |
Dena Bank, S V
Road, Kandivali (West), Mumbai 400067 E. Mail.: kanwest@denabank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
1-Cash Credit (Hypothecation)
Rs. 25.000 Millions, Stock Cum Book Debt (Sub limit packing credit) Rs.
6.000 Million, 2- Letter of
credit (I/F) (DP/DA) Rs. 45.000 Millions 3 Bills
Purchase / Discount (I/F) Rs. 45.000 Millions 4 Guarantee
(I/F) Rs. 0.600 Millions |
|
Date of
instrument Creating the charge |
30.07.2007 |
|
Amount secured by
the charge |
Rs. 115.600
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
PLR + 3.50% With monthly rests as per HO Guidelines Margin Stock
(RM & FG) 25% Stock (WIP) 33.33% Book Debts 40% Bills
Purchase/Discount 10% Guarantee 10%
(P) & 25% (F) Extent and
Operation of the charge - The Charge
stands in favour of Dena Bank Others - - |
|
Short particulars
of the property charged |
As per Mortgage
deed & sanction letter 1 Geeta Niwas
GR + Three Fl., AD 5839 Sq. ft, Built up area with land 5906.7 Sq. ft
situated ay Kandivali (West), Mumbai 400067 2 Land AD
132597 Sq. M At Village Garadhiya, Taluka Savli, Dist Vadodara 3 Land AD
12140 Sq. M At Baska Halol, Panchmahal of Royal Knitting Private Limited 4 - Land AD
10146.25 Sq. M At Baska Kalol, Panchmahal 5 - Land AD 40947.00
Sq. M At Jamnagar |
|
Date of latest
modification prior to the present modification |
24.03.2005 |
|
Particulars of
the present modification |
The amount of
charge is now increased from Rs. 83.300 Millions to Rs. 115.600 Millions 1 Geeta Niwas
GR + Three Fl., AD 5839 Sq. ft, Built up area with land 5906.7 Sq. ft
situated ay Kandivali (West), Mumbai 400067 2 Land AD
132597 Sq. M At Village Garadhiya, Taluka Savli, Dist Vadodara 3 Land AD
12140 Sq. M At Baska Halol, Panchmahal of Royal Knitting Private Limited 4 - Land AD
10146.25 Sq. M At Baska Kalol, Panchmahal 5 - Land AD
40947.00 Sq. M At Jamnagar |
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 Intl
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 companys 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.42.90 |
|
UK Pound |
1 |
Rs.83.74 |
|
Euro |
1 |
Rs.66.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
This score serves as a reference to assess SCs 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 |
|