MIRA
INFORM REPORT
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Report Date : |
17.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHREE SHYAM PIPES PRIVATE LIMITED |
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Registered Office : |
37, Netaji Subhash Margdarya Ganj, New Delhi – 110 002 |
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Country : |
India |
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Date of Incorporation : |
23.10.1989 |
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Com. Reg. No.: |
55-38134 |
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CIN No.: [Company
Identification No.] |
U74899DL1989PTC038134 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS08977D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Copper Pipes, PVC Pipes and Tubes. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject appears to be an established company but poor in Corporate
Governance since its no financials are available, so far. In view of non – availability of financial and business details, it
would be difficult to assess company’s financial status. Its payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
37, Netaji Subhash Marg, Darya Ganj, New Delhi – 110 002, India |
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Tel. No.: |
91-11-3278089 / 23250430 |
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Mobile No.: |
91-9810060737 |
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Fax No.: |
91-11-23276492 |
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Location : |
Owned (Medium Size) |
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Factory : |
C -60, Site – B, Surajpur Industrial Area, Noida – 201 301, Uttar
Pradesh, India |
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Tel. No.: |
91-120-2569573 / 2560398 |
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Fax No.: |
91-120-2569574 |
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Corporate Office: |
E – 59 and 60 Site B, Phase -2, Surajpur Industrial Area, Noida – 201
301, Uttar Pradesh, India |
DIRECTORS
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Name : |
Mr. Swarna Gupta |
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Designation : |
Director |
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Address : |
3-Pusa Road, New Delhi – 110 005, India |
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Date of Birth/Age : |
09.06.1939 |
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Date of Appointment : |
01.09.2000 |
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Name : |
Mrs. Madhu Gupta |
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Designation : |
Director |
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Address : |
3-Pusa Road, New Delhi – 110 005, India |
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Date of Birth/Age : |
23.05.1969 |
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Date of Appointment : |
01.09.2000 |
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Name : |
Mr. A K Gupta |
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Designation : |
Director |
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Address : |
3-Pusa Road, New Delhi – 110 005, India |
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Date of Birth/Age : |
06.03.1936 |
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Date of Appointment : |
08.12.1989 |
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Name : |
Mr. Ajay Gupta |
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Designation : |
Director |
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Address : |
3-Pusa Road, New Delhi – 110 005, India |
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Date of Birth/Age : |
01.05.1966 |
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Date of Appointment : |
23.10.1989 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on 29.09.2004):- |
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No. of Shares |
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Mr. Ajay Gupta |
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479000 |
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Dr. A K Gupta |
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110000 |
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Mrs. Swarna Gupta |
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292500 |
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Master Pranit Dass |
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9500 |
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Mrs. Madhu Gupta |
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104500 |
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Total
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995500 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of Copper Pipes, PVC Pipes and Tubes. |
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Products : |
Copper Coils and Pipes |
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Exports : |
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Products : |
Pipes |
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Countries : |
USA, South East Asia |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China |
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Terms : |
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Selling : |
Cash, Credit (30 Days), Sight |
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Purchasing : |
L/C, Cash, Credit |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
90 (10 in Office and 80 in Factory) |
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Bankers : |
State Bank of Patiala Address: 38, Darya Ganj, Delhi – 110 002, Delhi, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anuj and Associates Chartered Accountants |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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995500 |
Equity Shares |
Rs.10/- each |
Rs. 9.955
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover (Estimated) |
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700.000 |
600.000 |
Financials:
Since incorporation of the company, no financials are available from any
sources.
There company is poor in Corporate Governance.
Mr. Ajay Gupta was contacted and has assured to update financials and
business details. If he provides further details, we shall update the report,
soon.
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporation identity number or foreign company registrations number of
the company |
U74899DL1989PTCC038134 |
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Name of the company |
SHREE SHYAM PIPES PRIVATE LIMITED |
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Address |
37, Netaji Subhash Marg Darya Ganj, New Delhi – 110 002,
India |
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This Form is for |
Modification of charge |
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Type of Charges |
Equitable mortgage or mortgage of property
by depositing the title deeds |
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Particular of the charge holder
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State Bank of Patiala 38 Darya Ganj, Delhi – 110 002, India Email ID: gkjain1234@rediffmail.com |
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Amount Secure by the charge |
Rs. 4.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Interest to be charge @17.75%p.a |
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Description of the property charge whether it is a charge on |
Immovable properties |
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Particulars of the Property charged
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The whole of the borrower stocks of pipes and metal sheets, etc
whether raw or in process of manufacture and all articles manufactured
thereon which now or thereafter from time to time during this security shall
be brought into stored or be in or about borrower’s Godown or premises at B – 60, Surajpur Industrial
Area, Uttar Pradesh or wherever else incl. any such goods in course of
transit. All the borrowers’ present and future book debts, outstanding,
moneys receivables, claims, bills, contract, engagement, securities,
etc. |
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Brief description of the instrument modifying the charge under section
135 |
No instrument was executed letter evidencing deposit of title deeds to
create equitable mortgage. |
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Date of the instrument modifying charge |
04.07.2006 |
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Name of the
company |
SHREE SHYAM PIPES PRIVATE LIMITED |
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Presented
By |
Company and
State Bank of Patiala |
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1) Date and
description of instrument creating the change |
Hypothecation
agreement dated 31.05.1995 and regd. On 20.07.1995 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 4.000
millions |
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3) Short particular
of the property charged. If the property acquired is subject to charge, date
of the acquired of the property should be given |
The whole of the
borrowers stocks of pipes and metal sheets, etc whether raw or in process of
manufacture and all articles manufactured therefrom which now or thereafter
from time during this security shall be brought into stored or be in or about
the borrowers godown or premises at E – 59 and E – 60, Surajpur Industrial
Area Uttar Pradesh, India or wherever else including any such goods in course
of transit. All the borrowers
present and future book debts, outstanding , moneys receivables claims, bills
, contracts, engagement , securities, investments, rights and assets, etc. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest to be charged @ 17.75% p.a |
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5) Name and
Address and description of the person entitled to the charge. |
State Bank of Patiala 38 Daryaganj, New Delhi |
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6) Date and brief description of instrument modifying
the charge |
No instrument was
executed. Letter evidencing deposit of title deeds to create extension charge
dated 24.10.2005 |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Enhanced credit
facilities of Rs. 86.750 millions together with Interest, costs, and
expenses, etc shall further be collaterally secured by extension of equitable
mortgage by deposit of title deeds in respect of factory, land building
situated at E – 59/60, Surajpur, Noida, Uttar Pradesh together withal
buildings and structures thereon or to be constructed thereon sand all plant
and machinery installed therein or to be installed therein. |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.45 |
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UK Pound |
1 |
Rs.82.25 |
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Euro |
1 |
Rs.63.20 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
--- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
--- |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
YES |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
NO |
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TOTAL |
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28 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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