MIRA
INFORM REPORT
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Report Date : |
03.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
PARTAP SPINTEX LIMITED |
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Formerly Known As : |
PARTAP FURANE PRIVATE LIMITED (W.E.F 07.04.2006) |
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Registered Office : |
Kantoor 30, Sector – 9, Urban Estate, Ambala City – 134 003, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
26.04.1989 |
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Com. Reg. No.: |
05-30556 |
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CIN No.: [Company
Identification No.] |
U15140HR1989PLC030556 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKP02844C |
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PAN No.: [Permanent
Account No.] |
AADCP8715D |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturers of Cotton Yarn. |
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 630000 |
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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. Trade relations are fair. Business is active. Payments are reported as
usually made as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Kantoor 30, Sector – 9, Urban Estate, Ambala City – 134 003, Haryana,
India |
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Tel. No.: |
91-171-2530323 |
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E-Mail : |
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Website : |
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Garment Division : |
192 K.M. Stone, N.H. - 1, Mohra, Dist. Ambala Cantt – 133001, Haryana,
India |
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Tel. No.: |
91-171-2871051 |
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E-Mail : |
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Yarn Division : |
Maur Mandi, Dist. Bathinda – 150509, Punjab, India |
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Tel. No.: |
91-1655-231954 |
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Fax No.: |
91-1655-329666 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Surinder Paul Bansal |
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Designation : |
Chairman cum Managing Director |
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Address : |
Village Takhana, P O Padhana, District Karnal, Taraori – 132 116,
Haryana, India |
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Date of Birth/Age : |
21.06.1956 |
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Date of Appointment : |
31.01.2005 |
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Name : |
Mr. Satish Kumar Bansal |
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Designation : |
Director |
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Address : |
31, Sector – 9, Urban Estate, Ambala City – 134 003, Haryana, India |
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Date of Birth/Age : |
17.07.1960 |
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Date of Appointment : |
28.08.2004 |
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Name : |
Mr. Suresh Kumar |
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Designation : |
Director |
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Address : |
184, Veer Colony, Amrik Singh Road, Bhatinda – 151 001, Punjab, India |
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Date of Birth/Age : |
15.03.1959 |
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Date of Appointment : |
22.05.2006 |
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Name : |
Mr. Pritam Bansal |
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Designation : |
Director |
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Address : |
Nu Chem Oils Private Limited, Village Takhana, District Karnal, Tarori
– 132 116, Haryana, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2007)
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Names of Shareholders |
No. of Shares |
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Satish Kumar (HUF) |
13380 |
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Satish Kumar Bansal |
30340 |
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Surinder Paul |
56800 |
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Kalawanti |
24300 |
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Sangeeta Bansal |
20150 |
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Priyam |
8300 |
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Mahakali Chem Oils Limited |
55750 |
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Rahul Investments |
12600 |
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Sarla Sons Impex Private Limited |
10000 |
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Well Man Investments and Merchant Bankers Limited |
10000 |
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Nu - Chem Private Limited |
35500 |
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Mahakali Agro Industries |
18000 |
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Suresh Kumar |
104500 |
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Krishan Kumar Tayal |
16000 |
List of Allotment (31.03.2008)
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Names of Allottees |
No. of Shares |
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Sumit Goyal |
10000 |
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Amit Goyal |
10000 |
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Priyam Goyal |
10000 |
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Ramesh Kumar Goyal |
5000 |
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Rubal Tayal |
7250 |
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Nu – Chem Oils Private Limited |
2250 |
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Surinder Paul (HUF) |
250 |
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Rashmi Bansal |
250 |
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Surinder Paul Bansal |
4500 |
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Lalit Gupta |
500 |
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Fin Age Leasing and Finance India Limited |
12500 |
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Shalini Holding Limited |
12500 |
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Total |
75000 |
List of Allotment (As on 01.03.2007)
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Names of Allottees |
No. of Shares |
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Sonia Kathuria |
1565500 |
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R S Vasdev |
5099000 |
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Parmeet Vasdev |
3175000 |
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N P Kathuria |
5400000 |
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Renu Vasdev |
75000 |
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Sanjeev Vasdev (HUF) |
1625000 |
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R S Vasdev and Sons (HUF) |
100000 |
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N P Kathuria (HUF) |
2055000 |
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Kavita Vasdev |
950000 |
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Others |
6295000 |
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Total |
26339500 |
List of Allotment (As on 25.09.2006)
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Names of Allottees |
No. of Shares |
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Suresh Kumar (Business) |
84500 |
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Nu – Chem Oils Private Limited |
15500 |
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Total |
100000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Cotton Yarn. |
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Products : |
Textiles ·
Knitted Garments ·
Fabrics ·
Yarn ·
Polyester / Cotton
blended Yarn Edible Oils ·
Refined Vegetable Oil ·
Vanaspati Ghee (Oil) Solvent
Oil ·
Edible Oils ·
Fine Quality Toilet Soaps Glucose ·
Energy Drinks ·
Cookies ·
Fruit Juices ·
Bakery products |
PRODUCTION STATUS
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Particulars |
Unit |
Installed
Capacity |
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Manufacturing of Yarn |
MT |
6400 |
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Manufacturing of Yarn |
Spindles |
24000 |
GENERAL
INFORMATION
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Suppliers : |
·
Eastern Engineers, Ludhiana ·
Asian Electronics Limited (Garment Division) ·
Shilpa Agencies (Garment Division) ·
Mittal Sons and Company ·
Shaker Iron Store, Mour Mandi ·
Surya Electrogears, Ludhiana ·
Transport Corporation of India ·
Mehar Chand Jagan Nath, Mour Mandi ·
Achhar Chand Ohri, Bathinda ·
Naib Singh, Mour Mandi ·
Voltas Limited, Ludhiana |
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Customers : |
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Achievers Creation ·
Ambika Knit and Processors Limited ·
C K Garments ·
J K Clothing ·
Krishna Fabrics Limited, New Delhi ·
Sai Hosiery and Knit ·
Scientific Dyeing ·
Trend Setters ·
V and S International Private Limited ·
Ganesh Oil and General Mills ·
Shiv Oil Mills, Jui Kalan, Haryana ·
Narinder Shawl Trading Company, Ludhiana |
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Bankers : |
·
State Bank of India Maur Mandi Branch, District Bhatinda, Maur
Mandi – 151 509, Punjab, India ·
State Bank of Patiala Commercial Branch, Miller Ganj, Ludhiana –
141 001, Punjab, India ·
Punjab
National Bank Nicholson Road, Sadar Bazar, Ambala Cantt |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kant Goyal and Associates Chartered Accountants |
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Address : |
34, Sector – 7, Urban Estate, Ambala City – 134 003, Haryana, India |
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Associates/Subsidiaries : |
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Partap Industries Limited N.H. - 1, Beoprar, Teh. Rajpura, Dist.
Patiala - 140417, Punjab, India Tel No..: 91-1762-226544 Fax No.: 91-1762-226544 Email: denim@partapgroup.com ·
ShivOm Cotspin Limited Kala Amb, Dist. Sirmour – 173030, Himachal
Pradesh, India Tel No..: 91-1702-223884 Fax No.: 911702-209058 Email: shivom@partapgroup.com |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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800000 |
Equity Shares |
Rs.100/- each |
Rs.80.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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725000 |
Equity Shares (Out of which 75000 Equity Shares have been issued at a premium of
Rs.50 per share) |
Rs.100/- each |
Rs.72.500
millions |
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Share Application Money |
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Rs.21.500
millions |
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Total |
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Rs.94.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
72.500 |
65.000 |
55.000 |
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2] Share Application Money |
21.500 |
0.558 |
6.902 |
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3] Reserves & Surplus |
32.844 |
14.442 |
9.635 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
126.844 |
80.000 |
71.537 |
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LOAN FUNDS |
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1] Secured Loans |
342.967 |
185.644 |
117.524 |
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2] Unsecured Loans |
14.508 |
9.844 |
0.000 |
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TOTAL BORROWING |
357.475 |
195.488 |
117.524 |
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DEFERRED TAX LIABILITIES |
6.533 |
2.900 |
0.000 |
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TOTAL |
490.852 |
278.388 |
189.061 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
384.105 |
190.174 |
143.484 |
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Capital work-in-progress |
0.128 |
20.746 |
2.213 |
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INVESTMENT |
0.020 |
2.250 |
1.185 |
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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 |
111.169
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45.000 |
36.156 |
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Sundry Debtors |
29.758
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13.103 |
8.042 |
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Cash & Bank Balances |
4.611
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7.341 |
1.616 |
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Other Current Assets |
0.0000
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0.000 |
0.000 |
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Loans & Advances |
38.275
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37.139 |
13.246 |
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Total
Current Assets |
183.813
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102.583 |
59.060 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
75.255
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37.309 |
16.142 |
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Provisions |
2.226
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1.127 |
1.240 |
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Total
Current Liabilities |
77.481
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38.436 |
17.382 |
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Net Current Assets |
106.332
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64.147 |
41.678 |
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MISCELLANEOUS EXPENSES |
0.267 |
1.071 |
0.501 |
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TOTAL |
490.852 |
278.388 |
189.061 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
515.331 |
312.999 |
99.774 |
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Other Income |
0.494 |
0.354 |
1.571 |
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Total Income |
515.825 |
313.353 |
101.345 |
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Profit/(Loss) Before Tax |
14.783 |
7.403 |
3.806 |
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Provision for Taxation |
3.882 |
2.596 |
0.300 |
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Profit/(Loss) After Tax |
10.901 |
4.807 |
3.506 |
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Earnings in Foreign Currency : |
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Direct Export |
0.765 |
0.000 |
NA |
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Deemed Export |
68.188 |
0.000 |
NA |
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Total Earnings |
68.953 |
0.000 |
NA |
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CIF Value |
69.286 |
29.000 |
NA |
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Expenditures : |
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Raw Material Consumed |
346.611 |
248.270 |
71.525 |
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Consumption of stores and spares parts |
13.096 |
9.599 |
0.716 |
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Salaries, Wages, Bonus, etc. |
12.631 |
5.483 |
0.617 |
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Payment to Auditors |
0.067 |
0.056 |
0.045 |
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Interest |
23.130 |
11.620 |
2.553 |
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Insurance Expenses |
0.867 |
0.835 |
0.297 |
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Power & Fuel |
5.041 |
3.318 |
8.993 |
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Depreciation & Amortization |
43.100 |
2.601 |
8.945 |
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Other Expenditure |
56.499 |
24.168 |
3.848 |
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Total Expenditure |
501.042 |
305.950 |
97.539 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
2.11
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1.53 |
3.46 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.87
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2.37 |
3.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.60
|
2.53 |
1.88 |
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Return on Investment (ROI) (PBT/Networth) |
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0.12
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0.09 |
0.05 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.43
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2.92 |
1.89 |
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Current Ratio (Current Asset/Current Liability) |
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2.37
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2.67 |
3.40 |
LOCAL AGENCY FURTHER
INFORMATION
Note
The Registered Office of the Company has been shifted from SCF – 15,
Vikas Bihar, Ambala City – 134 003, Haryana, India to the present address
w.e.f. 11.05.2007.
Form No. 8
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Name of the company |
PARTAP SPINTEX LIMITED |
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Presented By |
Mr. Satish Kumar
Bansal, Director and Manager, Punjab National Bank, Nicholson Road, Sadar
Bazar, Ambala Cantt. |
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1) Date and description of instrument creating the change |
22.09.2004 :
Agreement of Hypothecation of Book Debts |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.2.500 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 |
Present and Future
Book – Debts, Outstandings, Decress, Money Receivable, Claims, Contracts,
Bills Engagements, Securities, Investments, Right and other movable assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest:
12.25% p.a. ot at such other rates as may be prescribed by the Bank from time
to time shall be calculated respectively on daily Balance due to the Bank on
the said account and shall be charged to the account of the Borrowers on
monthly. All interest so charged shall from part of the said principal sum
and carry interest accordingly. Margin : 25% Repayment : On
demand Extent of
Operation : 100% |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank Nicholson Road,
Sadar Bazar, Ambala Cantt |
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6) Date and brief description of instrument modifying the charge |
12-10-2004 :
Letter of creation of Equitable Mortgage by way of Deposit of title Deeds. |
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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. |
Equitable
Mortgage by way of Deposit of title Deeds of land having sale Deed /
Conveyance Deed bearing No. 437, Bahi No. 1, Zild No. 1, Page No. 219
Registered on 10.07.1992. Other terms and
conditions remain the same. |
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Corporate
identity number of the company |
U15140HR1989PLC030556 |
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Name of the
company |
PARTAP SPINTEX LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
30, Sector – 9, Urban Estate, Ambala City – 134 003, Haryana,
India |
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This form is for |
Modification of
charge |
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Type of charge |
·
Immovable
property ·
Any interest
in immovable property ·
Book debts ·
Movable
property (not being pledge) ·
Floating
charge ·
Others o
Counter
Guarantee by Company for Bank Guarantee |
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Particular of
charge holder |
State Bank of India Maur Mandi Branch, District Bhatinda, Maur Mandi – 151 509, Punjab,
India |
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Nature of
instrument creating charge |
1.
Agreement
for Loan for Overall Limit (Form.1) 2.
Agreement of
Hypothecation of Goods and Assets (Form C.2) 3.
Letter Regarding
the Grant of Individual Limits within the Overall Limit (Form C.5) 4.
Sanction
Letter. Over all Credit Facilities and 5.
Letter from
the Bank : Rs.435.000 millions |
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Date of
instrument Creating the charge |
19.08.2008 |
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Amount secured by
the charge |
Rs.435.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest Working Capital – SBAR – At SBAR Presently – 13.75% p.a. TL-1 and TL – II and TL – III – 1.25% Below SBAR Presently – 12.50% p.a. SLC – 1.00% Below SBAR Presently – 14.75% p.a. Open TL – 1.00% Below SBAR Presently – 12.75% p.a. ·
Terms of
repayment Working Capital – On Demand TL – 1, TL – II and TL – III as per Original Schedule Open TL (Rs.32.500 millions) – In 52 monthly installments of
Rs.6150.000 millions and 53rd installment of Rs.0.520 million +
Interest as and when due commencing from 01.04.2010 ·
Margin CC Stock – 25% Receivables (Cover 90 days) – 40% Book Debts – 40% FLC – 25% ·
Extent and
operation of the charge 100% ·
Others Primary : Working Capital : 1st Charge of SBI, Maur Mandi
by way of hypothecation of all existing and future current assets, stocks of
raw materials, stocks in process, finished goods including goods in transit,
stores and spares, book debts etc. Bank Guarantee : Counter Guarantee of the Company. |
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Particulars of
the property charged |
Term Loans : 1st
Pari Passu charge of SBI, Maur Mandi (With SBOP) on entire fixed assets
purchased / created out of Bank Finance including EM of following Properties
: ·
Factory Land
and Building : (Unit-1) in name of the Company measuring 18 Kanals 5 Marias –
(2 Plots) ; ii) (Unit – II) in name of the Company measuring 16 kanals 5
Marlas. ·
EM of land
situated at Village Mohra, Ambala on NH-1 measuring 33 Kanals and (ii) EM of
land situated at village Mohra, Ambala Land measuring 5 Kanals 2 Marla. |
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Particulars of
the present modification |
Gross :
Rs.435.000 millions (CC Hyp.
Rs.110.000 millions) SLC – Rs.10.000 millions
(BD Rs.40.000 millions + Bills/EBP Rs.10.000 millions + EPC/PCFC Rs.5.000
millions – Out of CC (Hyp) and SLC) TL – I Rs.71.900
millions TL – II –
Rs.27.200 millions TL – III –
Rs.66.900 millions TL Rs.100.000
millions (SBop, Commrl. Br. Ludhiana) Car Loan – I –
Rs.1.100 millions Car Loan – II –
Rs.0.400 million OTL Rs.32.500
millions |
Operations
The sales and Profits increased during the year review. Management is hopeful
that during the current year company will be doing well in its new line of
business and achieve more targets set by it.
Web Details
Partap Group was established in 1970’s as a manufacturer
of solvent extracted oil in the state of Punajb and Haryana under the inspiring
vision and leadership of Late Sh. Ram Partap Bansal. The group experienced
steady and significant growth in the field of Oil industry. With an objective
to serve today’s diverse and innovative market needs, the group broadened its operations
in the field of Textile. The management seeks leadership through investment and
innovation in the most contemporary business activities. Leveraging on the
state of the art technologies, the group opted for the latest techniques in the
textile domain, with no time the vision personified into reality with the
continually evolving product line comprising of Garmenting, Denim Fabric,
Knitted Fabric, various Yarns, and many more.....
Very soon, the group
matched the market needs and commenced its journey to be recognized as a leader
amongst leaders. Partap Group’s growth has been founded on a consistent
philosophy that to be able to deliver the range and quality of product that the
customers demand and the scale and nationwide presence to do so competitively.
Sharing knowledge has been at the heart of Partap Group’s management approach.
The knowledge sharing initiative is designed to speed up the flow of best
practices and techniques around the world.
Partap Group is contributing to shape the future of textile. The goal is
to be more than just successful. It is to be admired for our culture and
quality, service and management standards that it implies. Nothing less will
do.
Why Partap Group?
·
Only manufacturer to have complete in-house product chain from Raw
Cotton Ginning to final Garmenting
·
Backed by highly experienced promoters with about 40 years experience.
·
Impeccable financial track record.
·
End to End solution provider that cuts down the manufacturing time and
cost.
·
State of the Art machinery incorporates the latest textile technology.
·
Products stand out from the rest in terms of quality, color options and
finishing
·
Experience in making designs and fabrics exactly according to the client’s
specifications
·
Production, quality and packaging procedures are at par with the
international standards
·
Well received products in retails and bulk market in India and Overseas.
Environmental
Policies
Partap Group commits itself to continually improve our environmental
managements, it strives to go beyond the requirements of the applicable
environmental laws and regulations through:
·
Optimizing usage of cotton, energy, chemicals and water
·
Adopting preventive strategies to reduce the generation of effluents,
waste and air emission
·
Maximizing the recycling of inevitable wastes
·
Encouraging suppliers and buyers to become environmentally responsible.
·
Maintaining a safe working environment
·
Increasing the green cover
·
Training employees on environmental issues
Fixed Assets
·
Land (Refinery)
·
Building (Garment)
·
Truck and Tankers
·
Land (Mohra A/Cantt.
·
Furniture and Fixture
·
Vehicle (Car)
·
Plant and Machinery
·
Generator Set
·
Cars
·
Office Equipments
Quality Control
The Q.C. divisions in all our units are equipped with the latest
equipments and techniques of testing all the material from the raw cotton stage
to the finished Garmenting. The facilities are the best in the Industry.
Strict quality control is maintained at all levels and the personal are well
qualified and trained in their jobs. All staff is required to follow strict
quality control measures to bring out the optimum level of performance.
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.49.25 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.62.84 |
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 |
YES |
|
--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 |
|