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MIRA
INFORM REPORT
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Report Date : |
24.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
JURONG CONSULTANTS (INDIA) PRIVATE LIMITED |
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Registered Office : |
Jurong House, 1/5 Palace Road, Bangalore – 560 001, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.05.2000 |
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Com. Reg. No.: |
08-27096 |
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CIN No.: [Company
Identification No.] |
U74140KA2000PTC027096 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRJ01660B |
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PAN No.: [Permanent
Account No.] |
AAACJ8841M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Consultancy – Architects Design |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 290000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Jurong Group, Singapore. Available information indicates high financial responsibility of the
company and it’s management. Their trade relations are fair. Financial position
is good. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings. It
can be reported as a promising business partner in a medium to long run. |
INFORMATION PARTED
BY
|
Name : |
Mr. Umesh Mudnur |
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Designation : |
Finance |
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Date : |
17.06.2008 |
LOCATIONS
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Registered Office : |
Jurong House, 1/5 Palace Road, Bangalore – 560 001, Karnataka, India |
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Tel. No.: |
91-80-22207292 |
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Mobile No.: |
91-9880019301 / 988019320 |
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Fax No.: |
91-80-22207297 |
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E-Mail : |
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Website : |
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Hyderabad Office : |
954, Road No. 48, Jubilee Hills, Hyderabad – 500 033, Andhra Pradesh,
India |
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Tel. No.: |
91-40-23542094 |
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Fax No.: |
91-40-2354209 |
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Pune Office : |
#10/6 Kumar City, Kalyani Nager, Pune – 411 014, Maharashta, India |
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Tel. No.: |
91-20-27034965 |
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Fax No.: |
91-20-27034183 |
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Branches : |
Located in China, UAE, Qutar and Fujairah |
DIRECTORS
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Name : |
Mr. Munukutla Venkateswara Rao |
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Designation : |
Whole Time Director |
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Address : |
#21, Aditi, 1st Main Road, 1st Main Block,
R.M.V. Stage 2, Bangalore – 560 094, Karnataka, India |
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Date of Birth/Age : |
10.08.1961 |
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Date of Appointment : |
02.05.2001 |
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Name : |
Mr. Seetoh Hoi Wat |
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Designation : |
Director |
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Address : |
# 76 Green Ridge, Cresent, Green Ridge, Singapore – 598958, Singapore |
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Date of Birth/Age : |
01.03.1951 |
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Date of Appointment : |
18.05.2000 |
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Name : |
Mr. Tang Kwong Tat |
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Designation : |
Director |
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Address : |
# 16 Leedon Heights, # 12-03, Singapore – 267937, Singapore |
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Date of Birth/Age : |
02.10.1957 |
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Date of Appointment : |
18.05.2000 |
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Name : |
Mr. Chong Hin Chin |
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Designation : |
Director |
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Address : |
Block 133, Geylang, East Avenue 1, # 19-201, Singapore – 380133,
Singapore |
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Date of Birth/Age : |
12.08.1956 |
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Date of Appointment : |
07.08.2004 |
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Name : |
Mr. Chia Garling |
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Designation : |
Director |
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Address : |
# 6, Holland Ave # 07-26, Singapore – 271 008, Singapore. |
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Date of Birth/Age : |
05.05.1965 |
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Date of Appointment : |
14.04.2005 |
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Name : |
Mr. Liew Ngow Seow |
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Designation : |
Director |
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Address : |
# 15 Conway Circle, Singapore – 558 260, Singapore |
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Date of Birth/Age : |
04.05.1959 |
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Date of Appointment : |
14.04.2005 |
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Name : |
Mr. Woo Yeung Alan |
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Designation : |
Director |
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Address : |
Block 118, Clementi Street, 13 # 06-103, Singapore – 120118,
Singapore. |
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Date of Birth/Age : |
30.10.1968 |
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Date of Appointment : |
14.04.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 18.05.2005)
|
Names of Shareholders |
No. of Shares |
|
Sajai Singh |
1 |
|
Jurong Overseas Private Limited |
1872973 |
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|
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Total |
1872974 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
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Foreign holdings (Foreign institutional
investor(s), Foreign companie (s), Foreign financial institution(s),
Non-resident Indian(s) or Overseas corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Consultancy – Architects Design |
GENERAL
INFORMATION
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Bankers : |
ICICI Bank Bangalore |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Price Water House Chartered Accountants |
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Address : |
Plot No. Y 14, Block EP, Sector 5, Salt Lake, Electronic Complex,
Bidhan Nagar, Kolkata – 700 091, West Bengal, India |
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Associates/Subsidiaries : |
·
Jurong Infrastructurer (India) Private Limited ·
Jurong International Consulting Private Limited Address
: Unit 503, Abdullah bin darwish Building, Salem Streets, P. O. Box
48187, Abu Dhabi, United Arab Emirates Tel.
: 971 – 26717176 Fax.
:
971-26717277 |
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Holding Company : |
Jurong International Holdings Private Limited Address : Jurong Town Hall Road, #08-00 The JTC Summit, Singapore –
609434, Republic of Singapore Tel. : 65-62678333 Fax. : 65-62678283 Email :
enquiry@jurong.com |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1872974 |
Equity Shares |
Rs.10/- each |
Rs.18.730
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 |
18.730 |
18.730 |
18.730 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
39.350 |
28.345 |
4.527 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
58.080 |
47.075 |
23.257 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.213 |
0.602 |
10.782 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
24.213 |
0.602 |
10.782 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
82.293 |
47.677 |
34.039 |
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|
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APPLICATION OF FUNDS |
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|
|
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|
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FIXED ASSETS [Net Block] |
11.116 |
6.506 |
4.034 |
|
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
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DEFERREX TAX ASSETS |
6.001 |
2.390 |
1.940 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
107.311
|
77.532 |
54.330 |
|
|
Cash & Bank Balances |
0.125
|
0.879 |
0.081 |
|
|
Other Current Assets |
47.730
|
12.590 |
5.586 |
|
|
Loans & Advances |
3.724
|
2.007 |
3.605 |
|
Total
Current Assets |
158.890
|
93.008 |
63.602 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
84.507
|
52.327 |
35.124 |
|
|
Provisions |
9.207
|
1.900 |
0.413 |
|
Total
Current Liabilities |
93.714
|
54.227 |
35.537 |
|
|
Net Current Assets |
65.176
|
38.781 |
28.065 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.293 |
47.677 |
34.039 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.03
|
1.16 |
1.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
1.72 |
1.79 |
LOCAL AGENCY
FURTHER INFORMATION
Web Details :
Subject is synonymous with Singapore’s industrialization efforts. They have come a long way since the 60s, reinforcing their experience, nurturing talents and continuously improving the niche services. Their offices in China, India, UAE and Qatar, reach out to a truly global mix of customers, and they are still growing.
Today, they help the customers mastermind their township dreams and economic zones, bioscience facilities, marine and infrastructure developments, residential and recreational amenities, and the list goes on. All this, as part of their Consultancy, Design & Build and Facilities Management services, spreading across 126 cities in 36 countries.
As a multi-disciplinary organization, they are different in that they provide an entire value chain of services. In other words, the customers can count on them from concept to completion, or alternatively, engage them for targeted services. Their professionals are trained to listen and make relevant recommendations that are of economic value.
They have created 6,000 ha of land from the sea, 220,000 ha of master plans, 10 million square meters of industrial & residential building space 87,000 sq m of lab space and 6,500 m deep water berths………and the figures are counting.
They are different. Because they take forward to realize the vision.
Management
Er Tang
Tat Kwong
Group President & CEO
A Professional Engineer (Civil) by training, Er. Tang has been instrumental in the successes of many local and international projects such as industrial parks and buildings, marine and land reclamation and township infrastructure, across all our core services. In recent years, he has focused on growing the company’s overseas presence, making significant breakthroughs in India and the Middle East.
Mr
Seetoh Wat Hoi
EVP Corporate Services Division
Chief Financial Officer
Mr Seetoh brings with him valuable
experience harnessed over the years at senior management positions with various
MNCs and Singapore organizations. He is responsible for the Group’s Corporate Services
which includes Finance, Legal and Risk Management, Information Technology and
Corporate Secretariat.
Er
Mao Whey Ying
EVP Consultancy
President, JURONG Consultants
A true veteran in Consultancy
services, Er. Mao's 30 years' experience with our parent company speaks volumes
of her contributions to the Group. With her professional engineering background
(Civil), Er. Mao drives key projects, the most recent being the biomedical hub,
Biopolis at one-north, Singapore. Er. Mao is currently giving her undivided
attention to developing the Group's niche Consultancy services.
Dr
David Tse Tze Kwong
EVP, Turnkey/EPCM
President, JURONG Primewide
Dr Tse's academic achievements (Civil Engineering) are equally matched by his experience in completing numerous industrial and building projects in the region. He is a Chartered Engineer in the UK, Australia and Singapore and is also an Accredited Checker for independent design review work. Dr Tse will focus on growing the Group's Turnkey business, particularly in the Middle East.
Mr Ng
Koh Kow
EVP, Facilities Management
President, SMM
A Civil Engineer by training, Mr Ng spent many years in Singapore's Ministry of Defence, contributing in the areas of infrastructure and facilities development and maintenance management. Subsequently, he joined Singapore Technologies to handle the development, marketing and operation of industrial parks in Wuxi, China and Ho Chi Minh City, Vietnam. His passion remains unfazed, as he actively markets the Group's FM expertise overseas.
Mr
Mun Kwok Kin
SVP and Chief Human Resource Officer
Mr Mun has spent more than 20 years in the human resource (HR) function, despite having had an Engineering start. His true calling began with HR stints in Singapore’s Ministry of Defence and Land Transport Authority. Today, Mr Mun is responsible for the Group's HR directions, managing all related issues for a staff strength of more than 800, in our Singapore and overseas offices.
Customer Testimonials
"JURONG Primewide's work was done in a professional manner such that their facility in Jurong Island was completed within budget and ahead of Contract Completion date, and without any Loss Time incident. This contributed to their success in achieving four million manhours without any injury. I highly recommend JURONG Primewide for any similar project in future."
S.K. Mazumdar
Project Manager Horizon Singapore Terminals Pte Ltd
Markku Oja
Area Manager, Nokia Real Estate, Greater China
Keith Robertson
Area Manager, Facilities Engineering Services, Baxter Health Corporation
China-Singapore Suzhou
Industrial Park
WeiTing Authority
Prof. E. Birgitte Lane
Executive Director, A*STAR Institute of Medical
Biology
Awards
Defence Science and Technology
Agency (DSTA)
Maintenance Agency Services for MINDEF Controlled properties in Northern
Singapore
Ministry of Environment &
Water Resource (MEWR)
Managing Agent for at the Environment Building on Scotts Road
Novartis Institute for Tropical
Diseases (NITD)
Facility Management Services for NITD laboratory at Biopolis
SingTel
Managing Agent for SingTel Building (1 Serangoon Ave 5) and 11 hello! Shops in
Singapore
A*STAR - Institute for Infocomm
Research (I2R)
Integrated Facilities Management Services for Institute for Infocomm &
Research (I2R)
Building
Media
$100m Biopolis Phase III starts
taking shape
The
Business Times, 3 April 2008
Construction of the $100 million Biopolis Phase III project began yesterday and the 41,500 sqm complex will be ready by Q4 2009. Mr Patrick Teo, CEO of Crescendas Bionix, said, he hopes to achieve a take-up rate of at least 50 per cent by middle of June.
The growth of the biomedical sciences industry is likely to place greater demand on space, and JTC Corp plans to expand the Biopolis cluster further.
Ecclestone on S’pore GP:
>>It
feels like magic >>It has incredible infrastructure >> It might be
better than Monaco
The
Straits Times, 25 March 2008
The Chief Executive of Formula One Management was impressed with the Republic’s preparations so far for its September debut. "I'm very happy with what I've seen and how far advanced the progress is, especially with the pit building," the Briton said.
Ecclestone praised the speed of the work so far, and said he was sure "everything would be okay in time for the race".
Saudi mega city's link to MM Lee
The
Strait Times, 19 January 2008
Two years ago, Minister Mentor Lee Kuan Yew offered suggestions to the blueprint of proposed mega city - called King Abdullah Economic City (KAEC), which eventually led to changes to its masterplan. THE KAEC is one of the six economic cities being created to diversify the resource-rich country's economy and reduce its dependence on oil.
The City would be a 168 sqkm metropolis, made up with six components - a port, a central business district, industrial district, resorts, education zone and a residential zone.
Quoted by Mr Fahd A. Al-Rasheed, deputy governor and head of Economic Cities in the Saudi Arabian General Investment Authority (Sagia):
"Singapore had a major impact on the city's development. MM Lee gave us major comments. We changed the plans, changed the whole masterplan."
RSP Architects is the master planner for KAEC, while township planner JURONG International has signed a memorandum with Saiga to provide consultancy and advisory services, its executive vice president Mao Whey Ying said.
Singapore firms take big stake in India’s property boom The Straits Times, 30 April 2007
Local Singapore firms are striking while the iron is hot, as India’s property market heats up. Singapore firms such as JURONG International are in the thick of action in acquiring projects. Currently, India has an 80ha Township in Amritsar designed by JURONG.
JURONG International is also designing a 3-million-sq ft IT Park for the Phoenix Group in addition to another 600,000-sq-ft IT Park for iLabs. Other projects include luxury condominiums for the KSR Group.
French-Singapore group to design
undersea caverns
February
27, 2007, The Straits Times
Singapore has moved a step closer to its first undersea rock caverns for oil storage off Jurong Island. Industrial landlord JTC Corporation has appointed a consortium, Geostock-JURONG Consultants, to design and manage the construction of the first phased of the $2 billion caverns.
Geostock, based in France, was the consultant for 12 of the 18 caverns completed in the past 10 years worldwide. Its partner, Singapore-based JURONG Consultants, has expertise in engineering consultancy, project management and construction supervision.
Work on the first phase began earlier this month. The caverns will be completed in phases, starting from 2010.
JURONG International strikes out
into an unlikely field
November
6, 2006, The Business Times
Industrial planner and developer JURONG International is making a name for itself in new and unlikely field – India’s housing market. JURONG India currently has $303 million of firm orders for design (consultancy) and design and build contracts.
Its first residential deal was signed in 2003, for HM World City, a 15-tower development on about 10ha in Bangalore, but its initial projects were infotech parks and commercial developments.
The company is also making waves with the upscale Nirvana Township in Bangalore and the Monte Vista in Coimbatore.
Singapore firm lands high-tech
city contract
October
10, 2006, The Straits Times
JURONG International, a Singapore-based consultancy group, is doing a feasibility study for a $2 billion high-tech industrial city in Qatar. To be called Smart Industrial City, it is slated to play a leading role in the emirate’s goal to be the region’s financial, services and knowledge hub, a move that has prompted a construction boom in this energy-rich peninsula that borders Saudi Arabia.
JURONG is also helping to develop a 15sqkm Qatar Free Zone in Doha, which is made up of a free trade zone and a logistics and storage zone.
JURONG to study US$2b Qatar
construction deal
October
9, 2006, The Business Times
JURONG International signed an agreement with Qatar’s Masraf Al Rayan to conduct a USD2 billion feasibility study on its smart industrial city, which spreads over 5 sqkm and focuses on electronics, manufacturing and technology sectors.
Trade between Singapore and Qatar grew from USD3.6 billion in 2004 to USD4.1 billion last year.
JURONG International arm wins
US$70m W African deal
August
4, 2006, The Business Times
JURONG International’s subsidiary, JURONG Primewide, bagged a contract worth US$70 million to design and ultimately implement a West African port’s expansion plan. The contract was awarded by Lonrho Africa, which holds a 63% stake in the port.
The Luba Freeport is already home to oil services companies like Schlumberger, Exxon Mobil, Noble Energy, Chevron Texaco, Petronas, etc.
CEO Tang Tat Kwong disclosed that work on the feasibility study had commenced and upon completion of the design, the construction contract will be negotiated.
Jurong International’s to bank on
Mid-East growth
July
26, 2006, The Business Times
JURONG International is eyeing the Middle East as a key growth area as the region’s oil-rich economies sprout numerous infrastructure projects. The company expects to grow its consultancy services revenue from the Middle East by 20-25% in the year to March 31, 2007.
Besides Qatar, JURONG International has Middle East projects in the UAE, Jordan, Oman, Egypt, Bahrain and Saudi Arabia.
Key cities in Jurong
International’s thrust into western region
April
20, 2006, The Business Times
Chongqing and Xian, along with Chengdu, are the beachheads for JURONG International’s foray into what’s likely to be China’s next high-growth region – western China. Both account for 85% of the company’s order book for master planning projects.
Since 2000, it has had a registered office in Chongqing and three years later, it opened a representative office in Chengdu.
Singapore group clinches
Changxing contract
March
1, 2005, The Business Times
A Singapore consortium led by JURONG International has clinched a master planning contract for Changxing Island Zone in China – opening up opportunities for other Singapore companies.
It is the first Changxing Island contract awarded to a foreign investor by the municipal government. JURONG International will spearhead the design of the industrial zone, which will complement port development on the island.
Qatar setting up free trade zone
February
13, 2006, Gulf Times
Qatar yesterday announced plans to set up the state’s first free trade zone and a logistic and storage zone. The Singapore-based JURONG International, which has been chosen as the project management consultancy firm, had carried out its first feasibility study in October last.
Minister of Economy and Commerce, Sheikh Mohamed bin Ahmed bin Jassim al-Thani inked the deal with JURONG’s President and CEO Tang Tat Kwong.
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.42.97 |
|
UK Pound |
1 |
Rs.84.72 |
|
Euro |
1 |
Rs.66.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
TOTAL |
|
63 |
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 |
|