MIRA
INFORM REPORT
|
Report Date : |
01.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHIVSU CANADIAN CLEAR WATERS TECHNOLOGY PRIVATE LIMITED |
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Registered Office : |
No. 14, Spur Tank Road, Chetpet, Chennai 600 031, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
30.06.1989 |
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Com. Reg. No.: |
17622 |
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CIN No.: [Company
Identification No.] |
U29309TN1989PTC017622 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Suppliers of Water, Waste Water Treatment and
Desalination Technologies. |
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 24000 |
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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. Directors are
reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are 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/ Marketing Division : |
No. 14, Spur Tank Road, Chetpet, Chennai 600 031, Tamilnadu, India |
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Tel. No.: |
91-120-28362461-69/ 71/ 28364661 |
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Fax No.: |
91-120-28362470 |
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E-Mail : |
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Website : |
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Head Office : |
No.149, E.V.R Lane, Kilpauk, Chennai – 600
010, Tamilnadu, India |
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Tel. No.: |
91-44-28362461 - 65 |
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Fax No.: |
91-44-28362470 |
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E-Mail : |
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Domestic Branch : |
515, 6th Floor, Deep Shika
Building, Rajendra Place, New Delhi -110 008, India |
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Tel. No.: |
91-011-25864265 |
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Fax No.: |
91-011-25864266 |
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E-Mail : |
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Overseas Branches
: |
DUBAI P.O Box No.: 21424,Ajman, U.A.E. US Canadian Clear Watek LLC, 17402
O'Connor # 102 San Antonio, Tx 78247
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DIRECTORS
|
Name : |
Mr. P. Eashwaran |
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Designation : |
Chairman and Managing Director |
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Address : |
No. 14, Spur Tank Road, Chetpet, Chennai 600 031, Tamilnadu, India |
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Date of Birth/Age : |
19.02.1940 |
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Date of Appointment : |
30.06.1989 |
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Name : |
Mr. Shivkumar Eashwaran |
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Designation : |
Whole Time Director |
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Address : |
No. 14, Spur Tank Road, Chetpet, Chennai 600 031, Tamilnadu, India |
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Date of Birth/Age : |
21.09.1968 |
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Date of Appointment : |
30.06.1989 |
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Name : |
Mr. Sushilkumar Eashwaran |
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Designation : |
Whole Time Director |
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Address : |
No. 14, Spur Tank Road, Chetpet, Chennai 600 031, Tamilnadu, India |
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Date of Birth/Age : |
10.03.1971 |
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Date of Appointment : |
30.06.1989 |
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Name : |
Mrs. Vatsala Eashwaran |
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Designation : |
Director |
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Address : |
No. 14, Spur Tank Road, Chetpet, Chennai 600 031, Tamilnadu, India |
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Date of Birth/Age : |
11.11.1944 |
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Date of Appointment : |
30.06.1989 |
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Name : |
Mr. Chorimuthu Sathishkumar |
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Designation : |
Director |
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Address : |
24, Ramaih Street, Shenoy Nagar, Chennai 600 030, Tamilnadu, India |
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Date of Birth/Age : |
26.06.1974 |
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Date of Appointment : |
02.03.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. P. Eashwaran |
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287406 |
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Mr. Shivkumar Eashwaran |
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101721 |
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Mr. Sushilkumar Eashwaran |
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101721 |
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Mrs. Vatsala Eashwaran |
|
9151 |
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Names of Shareholders |
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Percentage of
Holding |
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|
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Directors or Relatives of Directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Suppliers of Water, Waste Water Treatment and
Desalination Technologies. |
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Products : |
* Mineral Water
Processing Machine * Bottling
Machines * Pet Stretch Blow
Moulding Machines |
GENERAL
INFORMATION
|
Customers : |
Pepsi
Beverages (Aquafina) Oasis
Mineral Water ( Oman ) Mysore
Breweries Limited Avanth
Leathers (Tada) Brakes India Limited |
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Bankers : |
* Indian Bank,
Ethiraj Salai Branch, No. 26, Fagun Chambers, Chennai 600 008, Tamilnadu,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajni Natraj and Company Chartered Accountants |
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Address : |
11 A, Dover Lane, Flat B1/ 34, Kolkata 700 029, West Bengal, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS FUNDS |
|
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1] Share Capital |
|
5.000 |
5.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.906 |
0.789 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
5.906 |
5.789 |
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LOAN FUNDS |
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1] Secured Loans |
|
2.660 |
2.934 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
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2.660 |
2.934 |
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DEFERRED TAX LIABILITIES |
|
0.253 |
0.084 |
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Term Loan |
|
5.703 |
7.673 |
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TOTAL |
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14.522 |
16.480 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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7.261 |
6.336 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.930 |
2.759 |
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Sundry Debtors |
|
12.066 |
11.339 |
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Cash & Bank Balances |
|
0.246 |
0.542 |
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Other Current Assets |
|
2.675 |
5.939 |
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Loans & Advances |
|
13.031 |
8.449 |
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Total
Current Assets |
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32.948 |
29.028 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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24.867 |
18.470 |
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Provisions |
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0.820 |
0.414 |
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Total
Current Liabilities |
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25.687 |
18.884 |
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Net Current Assets |
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7.261 |
10.144 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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|
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TOTAL |
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14.522 |
16.480 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
6.80 |
6.11 |
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Current Ratio (Current Asset/Current Liability) |
|
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1.28 |
1.53 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
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This form is for |
Modification of
charge |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U29309TN1989PTC017622 |
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Name of the company |
SHIVSU CANADIAN CLEAR WATERS TECHNOLOGY PRIVATE LIMITED |
|
Address |
No. 14, Spur Tank Road, Chetpet, Chennai 600 031, Tamilnadu, India |
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Type of Charges |
Hypothecation |
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Whether consortium finance is involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Indian Bank Ethiraj Salai Branch, No. 26, Fagun Chambers, Chennai 600 008, Tamilnadu, India |
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Nature or description of the instrument creating or modifying the charge |
Hypothecation of goods, produce and merchandise, cheques, bills, monies and other instruments. |
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Date of the instrument creating charge |
24.04.1995 |
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Amount Secure by the charge |
Rs.
1.250 millions |
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Description of the property charged indicating whether it is a charge on |
Stock in trade, plant and machinery, furniture and fixtures, book debts |
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Short particulars of the Property charged |
Hypothecation of stock and book debts less than 6 month and hypothecation of plant and machinery (other than vehicle charged under HP’s) with a WDV of Rs. 1.340 millions stored or to be stored at N220, Gopanesa Nallur Village, Puliambedu, Thiruverkadu, opposite to ARC, Chennai 600 077 or any other place(s) described by the company |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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Date of latest modification prior to the present modification |
22.05.2006 |
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Brief description of the instrument modifying the charge under section 135 |
D-101- Agreement of hypothecation of movable D-105- Agreement for open cash credit (stock/book debts) |
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Particulars of the present modification |
Existing limit of Rs. 1.450 millions has now been enhanced to Rs. 2.500 millions with margin 25%, Interest – BPLR + 2% - against hypothecation of stock and book debts and 6 month ad against hypothecation of plant and machinery. |
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This form is for |
Modification of charge |
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Whether charge is modified in favour of asset reconstruction company (ARC) of assignee |
No |
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Charge Identification (ID) number of the charge to be modified |
90282776 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U29309TN1989PTC017622 |
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Name of the company |
SHIVSU CANADIAN CLEAR WATERS TECHNOLOGY PRIVATE LIMITED |
|
Address |
No. 14, Spur Tank Road, Chetpet, Chennai 600 031, Tamilnadu, India |
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Type of Charges |
Book debts, movable property, floating charge |
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Whether consortium finance is involved |
No |
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Whether joint charge involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Indian Bank Ethiraj Salai Branch, No. 26, Fagun Chambers, Chennai 600 008, Tamilnadu, India |
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Nature or description of the instrument creating or modifying the charge |
Agreement of hypothecation of movables Agreement of open cash credit (stock/book debts) Power of attorney for collection of bills, book debts and other receivables Agreement for bills purchased Agreement of irrevocable letter of credit Counter guarantee |
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Date of the instrument creating charge |
05.11.2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 20.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: as per the sanction letter and as determined y the banker from time to time Terms of repayment: as per the sanction letter and as determined y the banker from time to time Margin: as per the sanction letter and as determined y the banker from time to time Extent and operation of the charge: as per the sanction letter and as mentioned in the column no. 14 of this form 8 Others: OCC – Rs. 12.000 millions (sub limit PC/FBN) LC – Rs. 3.000 millions Bank Guarantee : Rs. 5.000 millions All other terms and conditions as per the sanction letter and instruments executed on 05.11.2007 |
|
Short particulars of the Property charged |
Hypothecation by way of first charge in favour of the bank. n all godds, produce and merchanside, stock and other current assetsbelonging to the company, both present and future n all present and future book debts (not older than 6 months), outstanding monies, recoverable claims, bills, contracts, engagements, securities, investments, rights and assets belonging to the company n all present and future plant and machinery and other movable assets belonging to the company |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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Date of latest modification prior to the present modification |
18.08.2007 |
|
Particulars of the present modification |
The amount secured by the charge has been enhanced from Rs. 3.500 millions to Rs. 20.000 millions All other terms and conditions of the original charge and the subsequent modification remains unchanged. |
As per web:
Profile
Subject manufacturers of Water, Waste Water Treatment and Desalination
Technologies since 1972, with 4 decades of experience in the field of Water
Treatment.
They manufacturer of Mineral Water Processing Machine, Bottling Machines and
Pet Stretch Blow Moulding Machines in the Indian Sub Continent. They also
specialize in Effluent Treatment Plants and Sewage Treatment Plant.
They have successfully supplied more than 5000 Projects of various sizes in
India, Sri Lanka, Bangladesh, Middle East, Africa, South East Africa,
Australia, Eastern Europe and USA.
The above projects have been covered in various industries like Textile,
Tanneries, Bottle Water, Beverages, Sugar Mills, Refineries, Automobiles,
Pharmaceuticals, Hotels and Resorts etc., globally.
Their specialization and expertise includes Bottle Water Projects with more
than 2000 installation worldwide. They are one-stop manufacturers of complete
Processing, Packing Machineries and Pet Blowing Machine for Bottle Water.
They have secured a 5 Million USD contract against global competition for the
supply of Containerized Desalination Units to the US Defence through M/s.
Hurronsbury Limited U.K.
The company also won a 3 Million USD order for Bottle Water Project from
Federal Electrical and Water Department U.A.E.
They are approved suppliers to all major International Brands like Pepsi
Beverages, Pepsi and Aquafina, Shaw Wallace and Co. Limited, Royal Challenge,
Director's Special, John Exshaw, Haywards, United Breweries Limited, King
Fisher and Mc Dowell's No.1.
They are also one of the very few companies in the world, approved to supply
machines to Pepsi Co Holdings Private Limited.
Canadian Crystaline has received a Pioneer Certificate from the Chairman &
Managing Director of Pepsi Co Holdings Private Limited, for world debut of
Aquafina bulk water.
The first ABWA Approved Plant in India “SABOLS” was supplied, installed and
commissioned by us.
Canadian Crystaline is an ISO 9001 TUV Certified Company for design, manufacturing
and marketing divisions.
They are the approved supplier to leading Pharmaceutical Companies for USP 26 –
27 Standard Plants (e.g. Johnson & Johnson Limited).
Canadian Crystaline has global operations with Channel Partners and own
establishments over 42 Countries Worldwide.
Canadian Clear is a reputed name among the Industrial Water users for the past
four decades. A pioneer in the field, their company is one of the very few in
the world with a complete range of water, wastewater, bottled water products
and services. Their position of strength has been attained by their focus on
technological advancement through continuous Research and Development.
The company has a full-fledged R&D center where their engineer's work on
new product design, development, as well as upgradation of existing ones and
indigenization of foreign technologies obtained through collaborations.
Their international business division contributes a major share of the
companies sales turn over. The company has established offices in Dubai , UAE
as well as in the USA and China to take care of regional support.
The company has executed the largest Mineral water project in India with the
capacity of 1.2 Million litres per day.
Canadian Crystalline Waters India Private Limited has technical collaboration
with Canadian Crystaline Water Inc. Alberta.
Canadian Clear is the only company, which provides a complete solution for
Water Treatment, Mineral Water, Bottled Water, Soft Drinks and Sparkling Water
Projects on Turnkey Basis.
They cover a wide area of applications and technologies.
|
Applications |
Technologies |
|
Bottle Water Treatment |
Reverse Osmosis |
|
Drinking Water Treatment |
Ultra Filtration |
|
Municipal Water Treatment |
Nano Filtration |
|
Desalination Plants |
Micron Filtration |
|
Waste Water Treatment |
Electro De-lonizers |
|
Effluent Recycling Bioreactors |
Membrane |
|
Beverages & Food Processing Sterilizers |
Ultra Violet |
|
Ultra Pure Water |
Ozonizers |
They are the Authorized Franchise Consultants and Suppliers to:-
*
Hello Minerals Private Limited (Brand Hello)
*
Atlas Plastics & Aqua Limited (Atlas Gold)
*
Nepc Agro Foods Limited (Thriupthi)
*
Mc Dowell's Company Limited (No.1 Mcdowell's)
*
Ub Group Limited (King Fisher)
*
Udv Limited (Gilbey's Green Label)
*
Pepsico India Holdings Private Limited (Aquafina)
*
Shaw Wallace & Company, (Royal Challenge Packaged Drinking Water,
Director's Special Packaged Drinking Water & Haywards 5000 Packaged
Drinking Water)
They have given Franchise
to the above Companies all Over India and Abroad.
They are the only Company in the world which manufactures the complete
range of below equipments in house at their factories in Chennai (India)
Mineral Water Project
* Water Processing Equipment
* Automatic Rinser Filler Capper 200 Ml Upto
2000 Ml.
* Pet Stretch Blow Moulding Machine 60 Ml Upto
25 Litres
* Poly Corbonate Bottle Packing Machine
* Multiple Shrink Wrapping Machine
* Labeling Machine (Shrink, Peperlable, Bop)
* Air Conveyor
* Slot Conveyor
* Date And Batch Coding
Soft Drink Project
* Blending Tanks
* Sugar Syrup Tanks With Heating System
* Sugar Syrup Filter
* Carbonator (Carbo Coolers)
* Chillers
* Rotary Rinser Filler Capper
* Linear Rinser Filler Capper
* Cip System
* Final Filters
* Ink Jet Printers
Desalination – Reverse Osmosis System
* Sea Water De-Salination
* Highly Brackish Water Desalination
* Creek Abd Back Water Desalination
* Saline River Water Desalination
* Mobil And Containerized Desalination
Equipments
Waste Water Treatment:
1. Sewage Treatment Plant
• Sequential Batch Reactor (Sbr)
• Membrane Bio Reactor (Mbr)
• Moving Bed Bio Reactor (Mbbr)
• Sub Merged Arabic Fixed Filter (Saff)
2. Effluent Treatment Plants
• Textile Dye Effluent
• Slaughter
House Effluent
• Leather Tanning Effluent
• Industrial Effluent
• Electro Plating Effluent
• Food Processing
• Granite And Marble Effluent
• Petroleum Effluent
Seawater
Desalination
|
S.No |
Name Of The
Project Location |
Capacity Of The
Plant |
|
1 |
Alsagar |
300000 Gpd Containerized Sea Water
Desalination Plant |
|
2 |
Verfar International, Dubai |
2 Mld – Sea Water Desalination |
|
3 |
Fidelity Corp. Dubai |
1 Mld – Sea Water Desalination Plant – 1
No. |
|
4 |
Water Wheel LLC, Dubai |
1 Mld – Sea Water Desalination Plant – 3
Nos |
|
5 |
Hurronsbury , Iraq |
5 Mld Sea Water Desalination Plant – 4
Nos, Etp – 600 M4/Day Stp – 400 M3/Day – 5 Units Desalination 600 M3/Day – 6
Nos. |
|
|
US Defense ( Iraq Army Camp) (I) |
30 M3/Hr. 0.6 Mld Brackish Water Projects
Containerized Unit, Self Power Supply – 6 Nos. |
|
|
(II) |
30 M3/Hr 0.6 Mld Sea Water Projects
Containerized Unit, Self Power Supply |
|
|
(III) |
2-5 M3 / Hr Desalination Plants For
Tsunami Affected Areas Wide Various NGO's |
|
6 |
Verfar International, Libya |
Stp Plant Capacity 400 M3 / Day |
|
7 |
Johtec Industries, Jordan |
Etp Plant Capacity 500 M3 / Day With Daf
Clarifier |
|
8 |
Eastern Engineering Kuwait Sirupoovluvapatti Common |
Etp Plant Capacity 300 M3 / Day |
|
9 |
Effluent Treatment – Tirupur |
5 Mld Sea Water De-Salination Plant |
|
10 |
Kuppandampalam Cetp – Tirupur |
4.6 Mld Sea Water De-Salination Plant |
|
11 |
Kangra Aqua Private Limited – Nigeria Tsunami Relief Project , India |
1 Mld Sea Water De-Salination Plant – 18
Nos |
|
12 |
M/S. Thirumalai Chemicals, India |
1 Mld Sea Water De-Salination Plant |
|
13 |
Dragon Oil ( Dubai ) |
100 M3/Day Sea Water Desalination – 2 Nos,
50 M3/Hr Brackish Water System |
|
14 |
Highway Company |
75 M3/Day Seawater Desalination |
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.40.26 |
|
UK Pound |
1 |
Rs.79.88 |
|
Euro |
1 |
Rs.61.26 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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 |
|