MIRA
INFORM REPORT
|
Report Date : |
30.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GOLD
PLUS GLASSES INDIA LIMITED |
|
|
|
|
Registered Office : |
Glod
Plus House, G-192, Prashant Vihar, Rohii, Delhi – 110 085 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
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|
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Date of Incorporation : |
29.04.1991 |
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|
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Com. Reg. No.: |
55-44119 |
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|
|
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CIN No.: [Company Identification No.] |
U26101DL199PLC044119 |
|
|
|
|
TAN No.: [Tax Deduction & Collection Account No.] |
DELG06077B |
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|
|
|
Legal Form : |
A closely held public limited liability
company |
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|
|
|
Line of Business : |
Manufacturers
and Exporters of Toughened Glass and Insulating Glass |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 145400 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a closely held public limited liability company engaged in the business as
manufacturers and exporters of Toughened Glass and Insulating Glass. It is selling its products in
domestic market also. Major part of the company’s shares is held by the
Directors and their family members. They are resourceful businessmen. The
company’s business is progressing satisfactorily. The company has got
adequate infrastructure to carry on its business efficiently. The company has
availed loan facilities substantially from its bankers. Trade relations are
reported as fair. Payments are usually made as per commitments. The company can be considered
normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office/ Factory: |
Glod
Plus House, G-192, Prashant Vihar, Rohii, Delhi – 110 085, India |
|
Tel. No.: |
91-11-27654007/ 27655277/ 27565947/ 27564027/ 47000500 |
|
Fax No.: |
91-11-27866378/ 47000555 |
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E-Mail : |
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|
Website : |
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|
Area : |
10,000
sq. meters |
|
Location : |
Owned
|
|
|
|
|
Warehouse : |
Swaroop
Nagar, Delhi, India |
|
Area : |
1000
sq. meters |
|
Location : |
Owned
|
|
|
|
|
Branches
: |
5,
Haiderpur, Delhi – 110 052, India |
|
Tel.
No.: |
91-11-27490500/27490502 |
|
Fax
No.: |
91-11-27490501 |
|
E-Mail
: |
DIRECTORS
|
Name : |
Mr.
Subhash Bishamber Tyagi |
|
Designation : |
Managing Director |
|
Address : |
H – 4/ 26, Sector – 11, Rohini,
Delhi – 110 085, India |
|
Date of Birth/Age : |
01.01.1957 |
|
Date of Appointment :: |
11.09.2001 |
|
|
|
|
Name : |
Mr. Suresh Bishamber Tyagi |
|
Designation : |
Managing Director |
|
Address : |
H – 4/ 26, Sector – 11, Rohini,
Delhi – 110 085, India |
|
Date of Birth/Age : |
01.12.1960 |
|
Date of Appointment :: |
11.09.2001 |
|
Other Directorships : |
Gold Plus Toughened Glass
Limited CIN No.: U26100MH1999PTC122461 Gold Plus Himachal Safety Glass
Limited CIN No.: U26109DL2004PLC124145 Gold Plus Glass Industry
Limited CIN No.: U26109DL2005PLC143705 |
|
|
|
|
Name : |
Ms. Parveen Mahinder Tyagi |
|
Designation : |
Director |
|
Address : |
H – 4/ 26, Sector – 11, Rohini,
Delhi – 110 085, India |
|
Date of Birth/Age : |
30.05.1969 |
|
Date of Appointment :: |
29.04.1991 |
|
|
|
|
Name : |
Mr.
Jimmy Subhash Tyagi |
|
Designation : |
Additional Director |
|
Address : |
H – 4/ 26, Sector – 11, Rohini,
Delhi – 110 085, India |
|
Date of Birth/Age : |
12.11.1983 |
|
Date of Appointment :: |
26.08.2002 |
|
|
|
|
Name : |
Ms. Shashi Raghuvanshi Tyagi |
|
Designation : |
Additional Director |
|
Address : |
H – 4/ 26, Sector – 11, Rohini,
Delhi – 110 085, India |
|
Date of Birth/Age : |
05.09.1958 |
|
Date of Appointment :: |
18.07.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 16.08.2005
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Subhash Tyagi |
22751 |
|
Mr.
Praveen Tyagi |
1,551 |
|
Mr.
Jagdish Prasad Tyagi |
1,700 |
|
Mr.
Balster Singh |
450 |
|
Ms.
Rama Devi Tyagi |
600 |
|
Mr.
Mahipal Tyagi |
1,120 |
|
Mr.
Brij Mohan Tyagi |
960 |
|
Mr.
Jasbeer Singh |
750 |
|
Mr.
Raghuvar Dayal |
750 |
|
Mr.
V. P. Tyagi |
500 |
|
Ms.
Anju Tyagi |
1,050 |
|
Mr.
Raghuvansh Tyagi |
1,630 |
|
Ms.
Nisha Bala |
270 |
|
Ms.
Shanti Devi |
400 |
|
Mr.
Chander Prabha |
1,000 |
|
Mr.
Chander Kant Sharma |
600 |
|
Ms.
Manorama Sharma |
500 |
|
Mr.
Jagdish Sharma |
500 |
|
Mr.
Nirmal Kaushik |
1,500 |
|
Mr.
Suresh Tyagi |
17683 |
|
Mr.
Subhash Tyagi |
3,900 |
|
Suresh
Tyagi (HUF) |
1477 |
|
Mr.
Neeraj Tyagi |
800 |
|
Mr.
Munish Tyagi |
2,000 |
|
Mr.
Arvind Tyagi |
1,050 |
|
Mr.
Yash Pal Tyagi |
200 |
|
Mr. Ram
Pal Tyagi |
600 |
|
Manipal
Tyagi (HUF) |
300 |
|
Mr.
Mahinder Singh |
500 |
|
Mr.
Braham Swaroop Tyagi |
3,050 |
|
Mr.
Deepak Tyagi |
2,330 |
|
Ms.
Neha Tyagi |
1,050 |
|
Ms.
Jimny Tyagi |
11300 |
|
Mr.
Virender Kumar |
1,500 |
|
Mr.
Vishwas Kumar |
1,500 |
|
Mr.
Dev Swaroop |
2,000 |
|
Mr.
Satya Kumar Tyagi |
2,000 |
|
Ms.
Savita Verma |
1,150 |
|
Mr.
Dayanand Tyagi |
2,200 |
|
Mr.
Vipin Tyagi |
767 |
|
Mr.
Sachin Tyagi |
767 |
|
Jagdish
Prasad Tyagi, HUF |
3670 |
|
Mr.
B. S. Tyagi |
6,470 |
|
Mr.
Rajeev Tyagi |
3,750 |
|
Ms.
Somlata |
2,486 |
|
Ms.
Kusum Lata |
2,420 |
|
J. P
Tyagi |
4000 |
|
Mr.
Satish Kumar |
300 |
|
Mr.
Arvind Verma |
838 |
|
Mr.
Saroj Kumari |
5,000 |
|
Mr.
Babu Ram |
500 |
|
Mr.
Ravi Dutt |
500 |
|
Mr.
B. M. Tyagi |
620 |
|
Mr.
Pradeep Tyagi |
310 |
|
Mr. Suraj
Tyagi |
600 |
|
Ms.
Swati Tyagi |
610 |
|
Mr.
Ashish Tyagi |
610 |
|
Ms. Pummi Tyagi |
610 |
|
Total |
130,000 |
As on 30.09.2007
|
Names of Shareholders |
|
Percentage of Holding |
|
|
|
|
|
Director or Relatives of Directors |
|
65.00 |
|
Other Top Fifty (50) shareholders |
|
35.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
and Exporters of Toughened Glass and Insulating Glass |
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|
|
|
Products : |
Item Code No. (ITC No) Product Description 7007.11.00
Toughened Glass 7008.00.10 Insulating
Glass |
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Exports to : |
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Products : |
Windscreen
Glass and Frameless Fittings. |
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Countries : |
Europe
and neighboring countries |
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Terms : |
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Purchasing : |
Credit
terms |
GENERAL INFORMATION
|
Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
Krishna
Gopal Sharma and Company Chartered
Accountants |
|
Address : |
201,
Anupam Bhawan, Commercial Complex, Azadpur, New Delhi – 110 033, India |
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Tel. No.: |
91-11-27435428 |
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Memberships : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity
Shares |
Rs. 10/- each |
Rs. 15.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
130000 |
Equity Shares |
Rs. 10/- each |
Rs. 13.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
13.000 |
13.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
23.349 |
17.970 |
13.913 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
36.349 |
30.970 |
23.913 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
65.480 |
40.063 |
21.525 |
|
|
2] Unsecured Loans |
30.691 |
10.707 |
21.572 |
|
|
TOTAL BORROWING |
96.171 |
50.770 |
43.097 |
|
|
DEFERRED TAX LIABILITIES |
0.041 |
0.247 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
132.561 |
81.987 |
67.010 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
35.935 |
38.172 |
17.160 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
23.635
|
15.999 |
18.633 |
|
|
Sundry Debtors |
60.170
|
31.984 |
36.458 |
|
|
Cash & Bank Balances |
1.050
|
0.957 |
1.152 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
47.891
|
6.882 |
4.906 |
|
Total
Current Assets |
132.746
|
55.822 |
61.149 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
33.252
|
11.696 |
11.299 |
|
|
Provisions |
2.868
|
0.038 |
0.000 |
|
Total
Current Liabilities |
36.120
|
11.734 |
11.299 |
|
|
Net Current Assets |
96.626
|
43.815 |
49.850 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
132.561 |
81.987 |
67.010 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
302.919 |
203.026 |
138.792 |
|
|
Other Income |
0.555 |
0.097 |
0.401 |
|
|
Total Income |
303.474 |
203.123 |
139.193 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
7.897 |
6.480 |
2.524 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
7.897 |
6.480 |
2.524 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
|
Export Earnings |
8.641 |
5.298 |
5.428 |
|
Total Earnings |
8.641 |
5.298 |
5.428 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Raw Material Consumed |
180.383 |
120.754 |
96.166 |
|
|
Purchases made for re-sale |
0.000 |
0.000 |
0.000 |
|
|
Consumption of stores and spares parts |
4.308 |
1.890 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
(1.679) |
(2.225) |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
9.513 |
7.499 |
4.225 |
|
|
Managerial Remuneration |
1.800 |
1.031 |
0.684 |
|
|
Payment to Auditors |
0.045 |
0.044 |
0.027 |
|
|
Interest |
7.085 |
3.335 |
2.526 |
|
|
Insurance Expenses |
1.796 |
1.306 |
1.291 |
|
|
Power & Fuel |
23.912 |
15.872 |
12.444 |
|
|
Depreciation & Amortization |
5.447 |
2.809 |
0.000 |
|
|
Other Expenditure |
62.967 |
44.328 |
19.306 |
|
Total Expenditure |
295.577 |
196.643 |
136.669 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.60
|
3.19 |
1.82 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.60
|
3.19 |
1.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.68
|
6.89 |
3.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.21 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.64
|
3.02 |
2.27 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.67
|
4.75 |
5.45 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
|
This form is for |
Creation of charge |
|
Corporation identity number (CIN) or foreign company registrations number of the company |
U26101DL199PLC044119 |
|
Name of the company |
GOLD
PLUS GLASSES INDIA LIMITED |
|
Address |
Glod
Plus House, G-192, Prashant Vihar, Rohii, Delhi – 110 085, India |
|
Type of Charges |
Immovable
property, book debts, movable property, floating charge, corporate guarantee |
|
Whether consortium finance is involved |
No |
|
Whether joint charge involved |
No |
|
Number of charge holder(s) |
1 |
|
Particular of the charge holder |
Indian Bank G-41, Connaught Place, New Delhi 110 001, India |
|
Nature or description of the instrument creating or modifying the charge |
No objection certificate from the first charge holder. D-82: 2nd charge on immovable properties D-83: hypothecation agreement – second charge on machineries and movables agreement of guarantees Board resolution |
|
Date of the instrument creating charge |
08.10.2007 |
|
Whether charge created or modified outside India |
No |
|
Amount Secure by the charge |
Rs. 400.000 millions |
|
Brief particulars of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: BPLR+TP-0.25%, i.e. 12.75% on daily balances with monthly rests Terms of repayment: 18 quarterly installments commencing from January 2009 Margin: Nil Extent and operation of the charge: 100% Others: The second charge and corporate guarantee is in respect of loan facilities sanctioned by Indian Bank to Gold Plus Glass India Limited |
|
In case of acquisition of property, subjected to charge, furnish the details relating the existing charge on the property so acquired |
08.10.2007 |
|
Description of the instrument creating or evidencing the charge |
No objection certificate of the Bank of Rajasthan Limited |
|
Date of acquisition of the property |
08.10.2007 |
|
Amount of charge |
Rs. 400.000 millions |
|
Particulars of the Property charged |
Factory land and building comprising of plot areas of 4840 sq. yards with constructed area 19895 sq. ft. of RCC and 22295 sq. ft. of ACC situated at Khasra No. 20/15/1, 15/2, 16/1, 16/2/1 in village Liwaspur, District Sonepat, Haryana, India Hypothecation of all other fixed assets and current assets both present and future |
|
Short particulars of the Property charged |
Factory land and building comprising of plot areas of 4840 sq. yards with constructed area 19895 sq. ft. of RCC and 22295 sq. ft. of ACC situated at Khasra No. 20/15/1, 15/2, 16/1, 16/2/1 in village Liwaspur, District Sonepat, Haryana, India Hypothecation of all other fixed assets and current assets both present and future |
|
Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
|
Name of the Company |
GOLD PLUS GLASSES INDIA LIMITED |
|
Presented by |
Mr. Suresh Tyagi - Director |
|
03-03-1992 registered on
24-121992. deed of hypothecation of stocks. Work in progress and movable properties
from time to time |
|
Rs. 0.200 millions |
|
Secured by hypothecation of
goods and movable properties. Book debts, lying at factory at Liwaspur, Bahalgarh, Sonipat, Haryana |
|
Rate of Interest : 15.56% p.a. Margin – 30 % |
|
The Bank of Rajasthan Limited 82, Janpath, Connaught Place,
New Delhi - 110001 |
|
Agreement of hypothecation of
machinery & goods agreement of hypothecation of book debts; Agreement for
hypothecation of goods to secure a
demand cash credit, agreement for security for all advances and loans, and
letter of continuity, agreement of hypothecation of machinery and goods and
letter of Guarantee, executed on 20.08.2005 |
|
The total working capital credit
facilities have been increased from rs. 18.000 millions to Rs. 25.000
millions in favour of the company. In addition, the existing credit
facilities sanctioned by the bank of Rajasthan in favour of Gold Plus
Himachal Safety Glass Limited (for
which Gold Plus Glasses India Limited
has given corporate guarantee and extended it assets) has also been modified
from R.60.000 million to Rs. 55.000 millions. In brief the total coverage of the
securities of the company in favour of the bank shall be Rs. 80.000 millions. Securities The credit facilities of Rs.
25.000 millions in favour of the company are secured by hypothecation of all
kinds of stocks and book debts of the company, equitable mortgage of factory
land an bulding situated at Village Liwaspur, Dist. Sonipat, Haryana and
Hypothecation of all the plant and machineries of the company. Further, the total credit
facilities sanctioned in favour of M/s Gold Plus Himachal Safety Glass Limited
of Rs. 55.000 millions has been secured collaterally by the equitable
mortgage of factory land and building of Gold Plus Glasses India Limited
situated at Village Liwaspur, Dist. Sonipat, Haryana, All the plant and
machineries and the equitable mortgage of Office building of he said company
at G-192, Prashant Vihar, Delhi – 85 The last modification was made
on 28-10-2004 and registered by register of Companies. New Delhi on 17-12-2004 |
Fixed
Assets :
- Land
- Building
- Furniture and Fixture
- Plant and Machinery
- Electric Fitting
- Generators
- Workshop Equipments
- Dies and Equipments
- Office Equipments
- Computer
- Scooter
- Lab Equipment
- Etching System
- Camera
- Mobile
- Wireless
- Overhead Crane
- Air Conditioner
- Glass Washing Machines
- Photocopier
- Twin Grinding Machine
- Honda City
- Maruti Zen
- Daimond Grinding
Machine
- D. M. Water
Installation
- Glass Drill Machine
- Safe
- Santro Car
- Eicher Canter
- Corolla Car
- Submercible Pump
- Office Building
- Car
- Scooter
- Furniture and Fixture
- Computer
- Typewriter
- Fan
- Office Equipment
- Maruti Zen
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.77 |
|
UK Pound |
1 |
Rs.84.33 |
|
Euro |
1 |
Rs.66.65 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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 |
|