MIRA
INFORM REPORT
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Report Date : |
20.05.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
EBONY RETAIL
HOLDINGS LIMITED |
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Registered Office : |
F 2/1, Khanpur Extension, New Delhi – 110062 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.06.1988 |
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Com. Reg. No.: |
55-31907 |
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CIN No.: [Company
Identification No.] |
U74899DL1988PLC031907 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE02167E |
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PAN No.: [Permanent
Account No.] |
AAACD0207B |
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Legal Form : |
A Closely Held
Public Limited Liability Company |
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Line of Business : |
Manufacturer, Traders and Suppliers of Consumer Goods. |
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 600000 |
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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 experience 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 : |
F 2/1, Khanpur Extension, New Delhi – 110062, India |
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Tel. No.: |
91-11-29551296/ 29552057 |
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Fax No.: |
91-11-29552957 |
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E-Mail : |
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Head Office : |
C-66, NDSE – II,
New Delhi – 110 049, India |
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Tel. No.: |
91-11-26255835/
29552401 |
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Fax No.: |
91-11-29552957 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Balbir Singh
Narula |
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Designation : |
Director |
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Address : |
No. 3, Golf
Links, New Delhi – 110 003, India |
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Date of Birth : |
01.10.1942 |
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Date of Appointment : |
01.06.1988 |
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Name : |
Mr. Virender
Singh Narula |
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Designation : |
Director |
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Address : |
No. 3, Golf
Links, New Delhi – 110 003, India |
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Date of Appointment : |
04.12.1990 |
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Name : |
Mr. Narinder
Singh Narula |
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Designation : |
Director |
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Address : |
No. 3, Golf
Links, New Delhi – 110 003, India |
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Date of Appointment : |
01.06.1988 |
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Name : |
Mr. Birinder
Singh Narula |
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Designation : |
Director |
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Address : |
No. 3, Golf Links,
New Delhi – 110 003, India |
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Date of Appointment : |
01.06.1988 |
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Name : |
Mr. Harvinder
Singh Kohli |
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Designation : |
Director |
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Address : |
A-108, Paryavaran
Complex, Aaket, New Delhi, India |
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Date of Appointment : |
24.09.2002 |
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Name : |
Mr. Lalit
Kumar |
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Designation : |
Director |
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Address : |
C-1 A/97B, Janak
Puri, Delhi – 110 058, India |
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Date of Birth/Age : |
01.08.1964 |
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Date of Appointment : |
03.09.2005 |
KEY EXECUTIVES
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Name : |
Mr. Ajay Kumar
Mehta |
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Designation : |
Company Secretary
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Address : |
A-81, Preet
Vihar, Delhi – 110 092, India |
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Date of
Birth/Age : |
18.09.1966 |
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Date of
Appointment : |
15.02.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2006
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Names of
Shareholders |
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No. of Shares |
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Mr. B S Narula |
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19600 |
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Mr. Narinder
Singh Narula |
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13000 |
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Mr. Virender
Singh Narula |
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13000 |
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Mr. Harpinder
Singh Narula |
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11347000 |
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Mr. Birinder Singh
Narula |
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801600 |
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Mrs. Satwinder
Kaur Narula |
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13000 |
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Mrs. Rajinder
Kaur Narula |
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11000 |
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Mrs. Davinder
Kaur Narula |
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11000 |
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Ms. Surina Narula
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4500 |
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Mr. M S Narula |
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715000 |
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Alphamatics
Investments Limited |
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4401250 |
As on 30.09.2006
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Names of Shareholders |
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Percentage of
Holding |
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Directors or Relatives of Directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Traders and Suppliers of Consumer Goods. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kanwal Channa and
Associates Chartered
Accountants |
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Address : |
5, Babar Road,
New Delhi – 110 001, India |
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Joint Venture: |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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18,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 185.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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17.349,950 |
Equity Shares |
Rs. 10/- each |
Rs. 173.499 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
173.499 |
173.499 |
173.499 |
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2] Share Application Money |
0.000 |
334.000 |
334.000 |
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3] Reserves & Surplus |
0.000 |
11.112 |
9.911 |
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4] (Accumulated Losses) |
(23.856) |
0.000 |
0.000 |
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NETWORTH |
149.643 |
518.611 |
517.410 |
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LOAN FUNDS |
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1] Secured Loans |
166.718 |
172.319 |
96.758 |
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2] Unsecured Loans |
139.877 |
139.877 |
141.349 |
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TOTAL BORROWING |
306.595 |
312.196 |
238.107 |
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DEFERRED TAX LIABILITIES |
8.729 |
9.188 |
8.648 |
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TOTAL |
464.967 |
839.995 |
764.165 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
117.301 |
457.129 |
451.797 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.005 |
0.005 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
488.295
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472.794
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408.683 |
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Sundry Debtors |
1.411
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1.816
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3.103 |
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Cash & Bank Balances |
11.804
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38.644
|
50.101 |
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Other Current Assets |
0.000
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0.000
|
0.000 |
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Loans & Advances |
99.735
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123.802
|
83.918 |
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Total Current Assets |
601.245
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637.056
|
545.805 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
299.756
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263.368
|
238.309 |
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Provisions |
0.000
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6.266
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4.202 |
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Total Current Liabilities |
299.756
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269.634
|
242.511 |
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Net Current Assets |
301.489
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367.422
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303.294 |
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MISCELLANEOUS EXPENSES |
46.172 |
15.439 |
9.074 |
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TOTAL |
464.967 |
839.995 |
764.165 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
694.919 |
826.442 |
856.312 |
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Other Income |
1.354 |
3.809 |
0.000 |
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Total Income |
696.273 |
830.251 |
856.312 |
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Profit/(Loss) Before Tax |
(34.785) |
2.909 |
1.851 |
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Provision for Taxation |
0.184 |
1.708 |
0.000 |
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Profit/(Loss) After Tax |
(34.601) |
1.201 |
1.851 |
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Expenditures : |
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Purchases made for re-sale |
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613.325 |
640.950 |
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Salaries, Wages, Bonus, etc. |
|
51.937 |
46.648 |
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Managerial Remuneration |
|
1.384 |
1.440 |
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Payment to Auditors |
|
0.494 |
0.464 |
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Interest |
731.058 |
16.850 |
13.904 |
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Insurance Expenses |
|
1.559 |
1.931 |
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Power & Fuel |
|
22.813 |
17.804 |
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Depreciation & Amortization |
|
14.281 |
14.970 |
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Other Expenditure |
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104.699 |
116.350 |
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Total Expenditure |
731.058 |
827.342 |
854.461 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
(4.97)
|
0.35
|
0.21 |
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Net Profit Margin (PBT/Sales) |
(%) |
(4.99)
|
0.35
|
0.21 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(4.84)
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0.26
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0.18 |
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Return on Investment (ROI) (PBT/Networth) |
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(0.23)
|
0.005
|
0.003 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.11
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2.14
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1.94 |
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Current Ratio (Current Asset/Current Liability) |
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2.00
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2.36
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2.25 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
Name of the Company : Ebony Retail Holdings
Limited
Presented by : -- Director
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1. Date and
description of the instrument creating or evidencing the charge
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Letter of
Hypothecation and charge and hypothecation of Debts and Assets dated
25.02.2003, Regd. 31.03.2003 |
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2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 50.000
millions |
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3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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Hypothecation of
goods, described in general terms in the schedule hereto, particularly all
that goods, articles, items, durables etc, located / situated at various
showrooms that are opened / to be opened in various location in India of the
company and the goods which shall hereafter be stored in the said premises in
addition to the goods now stored or by way of substitutions for and in lieu
of any goods which may from time to time have been withdrawn. Hypothecation of
all the borrowers book debts, outstanding, money receivables, claims and
bills, which are now due and owing and which may at any time during the
continuance of this security become due and owing to the borrower in the
course of its business by any person, firm, company by way of first charge. |
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4. Gist of the
terms and conditions and extent and operation of the charge. |
Interest : @ 12% Margin : 25% on
stocks, 50% on Book Debts Above is to
secure OCC Limit of Rs. 50.000 millions Other term and conditions
as per sanction letter no. LKB/ND/10894/2002 dated 28.12.2002 |
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5. Names, address
and description of the persons entitled to charge |
Lord Krishna Bank
Limited K-2, Chaudhary
Building, Connaught Place, New Delhi – 110 001, India |
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6. Date and brief
description of instrument modifying the charge |
Letter of
Hypothecation and charge and hypothecation of Debts and Assets dated
15.01.2004 |
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7. Particular of
modification specifying the terms and conditions or the extent
or
operation of the charge in which modification is made and the details of modification |
OCC Limit stands
enhanced from Rs. 50.000 millions to Rs. 180.000 millions (including Rs.
80.000 millions Adhoc Limit) with interst @ 13@ p.a. Other terms as
per sanction letter no. LKB/ND/ /2003 dated 19.12.2003 |
Name of the Company : Ebony Retail Holdings
Limited
Presented by : -- Director
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1. Date and
description of the instrument creating or evidencing the charge
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Agreement for
negotiable instrument purchased / discounted dated 10.11.2005 |
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2. Amount secured
by the charge /amount owing on security of the charge |
Rs. 10.000
millions |
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3. Short
Particular of the property charged. If the property acquired is subject to
change date of acquisition of property should be
given
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Bills drawn by
the suppliers and accepted by the company Hypothecation of
goods stored in premises at the
company at its works / godown at and
hypothecation of stock in trade, finished goods stored anywhere else and
belonging to the borrower and / or book debts, bills receivables, goods in
transit. |
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4. Gist of the
terms and conditions and extent and operation of the charge. |
Above is to be
secured bills discounting limit of Rs. 10.000 millions Interest @ BPLR –
1@ i.e. 11@ p.a. Other terms and
conditions as per sanction letter no. LKB/CP/17993/2005 dated 16.09.2005 |
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5. Names, address
and description of the persons entitled to charge |
Lord Krishna Bank
Limited K-2, Chaudhary
Building, Connaught Place, New Delhi – 110 001, India |
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6. Date and brief
description of instrument modifying the charge |
N A |
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7. Particular of
modification specifying the
terms and conditions or the extent or operation of the charge in which modification is made and the details of modification |
N A |
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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 |
80005288 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U74899DL1988PLC031907 |
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Name of the company |
EBONY RETAIL
HOLDINGS LIMITED |
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Address |
F 2/1, Khanpur Extension, New Delhi – 110062, India |
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Type of Charges |
Book Debts, Movable Property |
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Whether consortium finance is involved |
No |
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Whether joint charge involved |
Yes |
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Number of charge holder(s) |
2 |
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Particular of the charge holder |
Small Industrial
Development Bank of India SIDBI Tower 15, Ashok Marg, Lucknow 226 001, Uttar Pradesh, India |
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Nature or description of the instrument creating or modifying the charge |
Letter of deed of hypothecation dated 24.04.2007 |
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Date of the instrument creating charge |
24.04.2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs.
25.000 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: Applicable 10.50% Terms of repayment: As per letter of deed of hypothecation dated 24.04.2007 Margin: As per letter of deed of hypothecation dated 24.04.2007 Extent and operation of the charge: Direct discounting of bills (components) parts and components sub-assemblies accessories etc, as per terms and conditions set out in the letter of intent no 5104/ RFS dt. 12.01.2007 |
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In case of acquisition of property, subjected to charge, furnish the details relating the existing charge on the property so acquired |
28.01.2006 |
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Description of the instrument creating or evidencing the charge |
As per letter of deed of hypothecation dated 24.04.2007 |
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Particulars of the Property charged |
Movable assets present and future of the company |
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Short particulars of the Property charged |
Movable assets present and future of 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 |
|
Particulars of the present modification |
Hypothecation deed dated 24.04.2007 |
AS PER WEB:
Profile
When Ebony first opened
its doors to the discerning Indian consumer in 1994 at South Extension, New Delhi,
it had little idea of the retail revolution that was about to sweep the
country. Leading the revolution and with a core aim to bring a global shopping
experience to India, Ebony has, ever since, successfully opened seven stores
across 7 Indian cities.
As a leader in the retail
industry, Ebony Retail Holdings Limited the company that owns and runs all
seven Ebony outlets in India, has pioneered several industry trends. Most
notable among them are the highly successful Ebony in-house brand ETC and a special
books and music venture called Wordsworth. With over 2 lac square feet of
retail outlet space, Ebony is today
among the largest retail players in India.
Ebony is characterized by an ambience that is
comfortable, unobtrusive and spacious. The first organized retail player
to make its entry into Chandigarh and Noida(Uttar Pradesh) with two large
format stores each spread across 35,000 sq.ft, has one store each in Ludhiana
and Jalandhar in Punjab. The Amritsar store, which opened in October 2002 and
Faridabad in January 2003 is the most recent addition to a venture that
originated at South Extension in New Delhi.
Attracting over
8000 people everyday, with the figure doubling over the weekends, the Ebony
stores cater to over 50% of a consumer's shopping basket. Ebony is known for
its innovative promotions that offer value-add benefits to shoppers across all
stores, right through the year. Besides cross promotions, regular impromptu
promotions keep excitement alive within the stores.
Partnerships with some of
the best companies in India today gives the Ebony loyalist a wide range of high
quality products to choose from among well-known
apparel brands, household items, cosmetics and personal care products,
Jewellery, fashion accessories, books and music, stationery, household items,
furnishing, crystal ware and even prams.
The home floor at each
store is truly a homemaker's delight, with products ranging from crockery and
kitchen appliances to the finest linen, bathroom accessories, furniture,
carpets and even gardening equipment. A number of these products are imported
and exclusive to Ebony. Sourced from across the world, these products are a
reflection of Ebony's endeavor to offer superior merchandising mix at the most
affordable prices.
Ebony Elite
Club comprising of 55000 Ebony
loyalists. The Ebony Elite club offers its members to accumulate bonus
points against shopping. These are redeemable at regular intervals through
special promotional schemes. Special customers, from among the Elite club
members are issued the Ebony Gold Card that offers them many additional
privileges and entitles them to avail of the discounts at the various food and
entertainment joints in the city in which Ebony is present.
The USD 1 Billion Conglomerate- DS Group,
the promoter of Ebony Retail Holdings
Ltd, is a multinational group founded in the 1940s with
business interests in infrastructure development, real estate, IT, hotels &
leisure management and retailing. In India, the Group's thrust is retailing and
infrastructure.
Product Range
Ebony, the word that is synonymous with retail revolution in India, has been offering its valued customers an array of the very best products and labels, all under one roof. Ebony has acquired a distinct leadership position in the Indian retail industry. Ebony is among the first to offer the Indian shoppers an international shopping experience. Its stores are characterized by an ambience that is comfortable, unobtrusive, spacious and backed by international service standards.
Partnerships with some of the best companies in India today gives the Ebony loyalist a wide range of high quality products to choose from among well-known apparel brands, household items, cosmetics and personal care products, Jewellery, fashion accessories, books and music, stationery, household items, furnishing, crystal ware and even prams.
The home floor at each store is truly a homemaker's delight, with products ranging from crockery and kitchen appliances to the finest linen, bathroom accessories, furniture, carpets and even gardening equipment. A number of these products are imported and exclusive to Ebony. Sourced from across the world, these products are a reflection of Ebony's endeavor to offer superior merchandising mix at the most affordable prices.
Press Releases
Complete range of Fashion Accessories to be
available under one roof for the first time in Ludhiana
LUDHIANA,
December 2, 2005
As the craze of the
festive and wedding season mounts among the city youngsters, Ebony, the leading
fashion and lifestyle retailer today announced the launch of “Envy range” of
fashion accessories targeted at the style minded youngsters. The fashion
forward customers will now get to catch up on latest fashion trends and try on
an entire array of exciting accessories at Ebony.
Ebony through the
Envy range will be providing the customers of Ludhiana with the entire spectrum
of fashion accessories ranging from costume jewelry, hair accessories, kids
jewelry, fun cosmetics, fun watches, pedicure/ manicure set, gift boxes and
beautiful phone accessories.
Speaking at the
occasion, Mr. Lalit Kumar, Chief
Executive Officer and Director, Ebony Retail Holdings Ltd.
said, “Recent consumer surveys showed us a growing need for fashion accessories
to accompany the designer clothes being increasingly preferred by our
customers. We are delighted to launch the Envy range of accessories at our
store as with this we are bridging the gap that our customers felt”. “It has
been Ebony’s endeavor to provide a global shopping experience to its customers
and in this process it has introduced innovative concepts such as Studio Ivory
which was the first designer concept store in Ludhiana”, he added.
Expressing his happiness on the launch of Envy, Mr. D.L. Narayanan, Chief Operating Officer, Ebony
Retail Holdings Ltd. said, “Today we have a highly educated and
sophisticated base of customers who want to try out and own the best of
designer clothes and fashionable accessories to go along with them. Envy is a
positive step in providing our customers with an opportunity to pick up a
complete fashion wardrobe for themselves”. He added.
Under Envy range, the customers can pick up an entire array of costume jewelry
such as Necklace and pendants, Earrings, Bracelets, Wrist bands/cuffs, Finger
rings, Anklets, Bangles/ Kadas and funky tattoos from Ebony.
To add zing to
their hair accessories rack there is a special collection of Hair sticks, Hair
pins, Hair clips / Butterfly clips, Ponytailers, Bandana, Curlers and other
hair products as per latest trends.
Also latest styles
will be available in Scarves, Bags, Belts, Wallets, Socks / Caps, Gift boxes,
Fun pouches and Phone Accessories for the people who believe in setting trends
by adopting the latest styles. On offer will also be new range of pedicure and
manicure sets.
In addition to the
above kids will also love to shop for the latest accessories at the Ebony store
for its special collection of kids jewelery and accessories under the Envy
brand. Also adding to fun will be a host of fun watches and fun cosmetics.
Ebony is also
planning to have special display and promotional techniques for promoting the
Envy range in an innovative manner. A trend board will be placed inside the
store to capture the latest styles and display it for creating awareness and
interest among the customers regarding the latest fashion styles setting in.
Ebony which has
recently completed five years at Ludhiana was the first organized retail player
to enter into the Ludhiana market. Since its opening Ebony has introduced some
of the latest products and trends into Ludhiana, it has also been coming out
with innovative promotional offers such as ICICI – Ebony co-branded credit
cards.
About Ebony Retail
Holdings Limited
Ebony Retail Holdings Ltd. is the parent company of the stores under the brand
name Ebony. Ebony started its first store in Delhi (South Extension) in October
1994. Now with 8 Stores, Ebony is the largest retailer in North India. Their
total retail space now stands at about 150000 sq. ft. All Ebony stores offer
consumers a truly international shopping experience. The stores are known for
their innovative promotions that offer value added benefits to shoppers,
throughout the year and are characterized by an ambience that is comfortable,
unobtrusive and spacious.
Fixed Assets
- Plant and Machinery
- Motor Vehicle
- Fax Machine
- Furniture and Fixtures
- Office Equipment
- Land and Building
- Garment Finishing Machine
- Sewing Machine
- Popcon Machine
- Transformer
- Dumb Waiter
- Water Cooler
- Telephone Equipment
- Music Systems
- Scooter
- Air Conditioner
- Television Set
- Data Processing Machine
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.42.64 |
|
UK Pound |
1 |
Rs.83.00 |
|
Euro |
1 |
Rs.66.00 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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 |
|