MIRA
INFORM REPORT
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Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
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Name : |
SFO TECHNOLOGIES PRIVATE LIMITED |
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Formerly Known As: |
SUN FIBRE OPTICS PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.02.1990 |
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Com. Reg. No.: |
09-5620 |
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CIN No.: [Company Identification No.] |
U72900KL1990PTC005620 |
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TAN No.: [Tax Deduction & Collection Account No.] |
CHNS02626B |
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PAN No.: [Permanent Account No.] |
AADCS3318K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Electronics Devices, SMT Assembly and Chip on Board
Assembly |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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Maximum Credit Limit : |
USD 3381972 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Financial position is good. Payments are usually correct and as per
commitments. The company is doing well. It can be considered good for normal business dealings at usual trade
terms and conditions. It can be regarded as a promising business partner in a medium to long
run. |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-484-2413223 / 2413246 |
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Fax No.: |
91-484-2413053 |
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E-Mail : |
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Websites: |
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Corporate Office: |
The Nest Group, Plot No. 99, Kiadb Industrial Area, Bommasandra 4th
Phase , Hosur, India |
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Tel. No.: |
91-80-27835120 |
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Fax No.: |
91-80-27833543 |
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E-Mail : |
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Website: |
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Factory : |
Plot No. 2, |
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Tel. No.: |
91-484-2413223 |
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Mobile No.: |
91-9447303046 |
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Fax No.: |
91-484-2413058 |
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E-Mail : |
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Website : |
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Area : |
35000 x 6 Sq.fts |
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Location : |
Owned |
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Indian Corporate Office : |
Plot
No. 2, |
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Tel. No.: |
91 484
2413223 |
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Fax No.: |
91 484
2413053 |
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Digital Electronics
Division ( |
Plot
No.37, |
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Tel. No.: |
91-484-2413205
/ 2413206 |
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Fax No.: |
91-484-2413204 |
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E-Mail : |
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Digital Electronics Division (
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Plot No.36, |
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E-Mail : |
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Cable & Wire Harness Division |
Plot No.17 , |
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E-Mail : |
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Optoelectronics Division |
Plot No.43 , |
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E-Mail : |
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Power Electronics Division |
Plot No.43 A , |
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E-Mail : |
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RF, Microwave & Wireless
Division |
Plot No.2 , |
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Email: |
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Mechanical
Division ( |
Plot No.99, KIADB
Industrial Area ,Bommasandra, 4th Phase |
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Email |
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Software
Services Division (Kalamassery) |
Unit III, |
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Email: |
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Electronics
Division |
No. 690/55/3, |
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Email: |
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Magnetics
Division |
No. 690/55/3, |
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Email: |
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System
Integration Division (Alwaye) |
111/21, AmbattukavuThaikattukara |
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Email: |
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Mechanical
Division ( |
14A, KIADB
Industrial Estate ,Veerasandra , |
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System
Integration Division ( |
No.27, II Cross,
CSI Compound, |
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Email: |
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Software
Services Division ( |
A-3, Periyar, Technopark,Kariyavattam, |
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Email: |
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Software
Services Division ( |
T. C. 13/ 58,
Gnayalloor Buildings,Kesavadasapuram , |
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Email: |
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Cyber
Campus (Alwaye) |
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Cyber
Campus ( |
Sumaj Complex
,Chavadimukku ,Sreekariyam , |
DIRECTORS
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Name : |
Mr. Jehangir Rawther Nagoor |
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Designation : |
Vice Chairman and Managing Director |
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Address : |
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Date of
Birth/Age : |
01.12.1955 |
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Date of
Appointment : |
08.02.1990 |
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DIRECTORSHIP IN OTHER COMPANIES: |
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CIN of the
Company |
U32109KL1992PTC006409] |
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Name of the
Company |
Crysind Electronics
Private Limited |
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Designation: |
Director |
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CIN of the
Company |
U28999KL1994PTC007865 |
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Name of the
Company |
Sun Precision
Works Private Limited |
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Designation: |
Director |
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CIN of the
Company |
U31300KL1994PTC007867 |
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Name of the
Company |
Sun Generic Cables
Private Limited |
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Designation: |
Director |
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CIN of the
Company |
U72200KL1995PTC008912 |
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Name of the
Company |
Network Systems &
Technologies Private Limited |
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Designation: |
Director |
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CIN of the
Company |
U33201KL1996PTC010702 |
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Name of the
Company |
J2 Optronics Private
Limited |
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Designation: |
Director |
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CIN of the
Company |
U72200KL1997PTC011153 |
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Name of the
Company |
Nest Systems Private
Limited |
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Designation: |
Director |
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CIN of the
Company |
U31200KL2000PTC013605 |
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Name of the
Company |
Nest Power Electronics
Private Limited |
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Designation: |
Director |
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CIN of the
Company |
U31904KL2000PTC014280 |
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Name of the
Company |
Nest Magnetics
Private Limited |
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Designation: |
Director |
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CIN of the
Company |
Saba Powerdex Private
Limited |
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Name of the
Company |
U30009KL1999PTC013131 |
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Designation: |
Director |
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CIN of the
Company |
U72200KL1998PTC012602 |
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Name of the
Company |
Nest Information Technologies Private limited |
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Designation: |
Director |
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CIN of the
Company |
U33201KL2000PTC014279 |
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Name of the
Company |
Swiftlink Fibre Optics Private Limited |
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Designation: |
Director |
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CIN of the
Company |
U32109KL2002PTC015790 |
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Name of the
Company |
Nest Photonics Private limited |
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Designation: |
Director |
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CIN of the
Company |
U72900KL2002PTC015791 |
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Name of the
Company |
Nest Technology Enabled Services Private Limited |
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Designation: |
Director |
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CIN of the
Company |
U35301KL2002PTC015731 |
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Name of the Company |
Nest Avionics Private limited |
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Designation: |
Director |
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Name : |
Mr. Iqbal Mohammed Ali |
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Designation : |
Director |
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Address : |
Thynothil, Pulinchodu, Aluva, Ernakulam – 683101, |
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Date of
Birth/Age : |
28.05.1951 |
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Date of
Appointment : |
08.02.1990 |
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Name : |
Mr. Javad K. Hassan |
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Designation : |
Chairman |
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Address : |
100, Commerce Bovie Ward, |
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Date of
Birth/Age : |
07.10.1940 |
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Date of
Appointment : |
22.12.2004 |
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Name : |
Mr. Sunil Theckath Vasudevan |
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Designation : |
Director |
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Address : |
96, 2nd Cross Road, Block 5, Banashankari, 3rd Stage, 3rd phase,
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Date of
Birth/Age : |
03.03.1966 |
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Date of
Appointment : |
28.05.2007 |
KEY EXECUTIVES
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Name : |
Mr. Padamabhan Kumaravel |
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Designation : |
Secretary |
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Address : |
310/C, |
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Date of Birth/Age : |
01.06.1967 |
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Date of Appointment : |
01.09.2006 |
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Tel No.: |
91-484-3098210/ 3950711 |
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Mobile No.: |
91-9447498476 |
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Email : |
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Name : |
Mr. Dr. Guy Rabbat |
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Designation : |
Chief Executive Officer - Global Supply Chain and
Information Technology |
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Name : |
Mr. U. M. Shafi |
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Designation : |
Chief Executive Officer - Manufacturing Operations |
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Name : |
Mr.Thomas John |
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Designation : |
Chief Executive Officer - Manufacturing Business |
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Name : |
Mr.Raj Kapany |
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Designation : |
President Global Business - Communications |
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Name : |
Mr. Gus Kamnitsis |
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Designation : |
President - |
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Name : |
Mr.Yoshiharu Ogi |
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Designation : |
President - |
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Name : |
Mr.N. Jehangir |
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Designation : |
Vice Chairman & Managing Director |
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Name : |
Mr.Javad K.Hassan |
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Designation : |
Chairman |
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Name : |
Mr.C Jayachandran |
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Designation : |
Global Executive – Aerospace |
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Name : |
Mr.John Murphy |
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Designation : |
Director - Managing Director - Ashling Micro Systems, |
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Name : |
Dr. David Darby |
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Designation : |
Head - |
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Name : |
Mr.Hector Toledo |
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Designation : |
President - Mexico & Latin America Operations |
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Name : |
Dr. Shin Lo Shia |
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Designation : |
Head - |
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Name : |
Mr.Michael Staples |
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Designation : |
Vice-President - Finance & Administration - |
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Name : |
Mr.S. Sasikumar |
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Designation : |
President - Software Services |
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Name : |
Mr.P. T. Varghese |
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Designation : |
Vice-President - Finance - |
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Name : |
Mr.N. Krishnan |
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Designation : |
President - System Integration |
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Name : |
Dr. Suresh Nair |
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Designation : |
President - Research & Development |
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Name : |
Mr.P. K. Radhakrishnan |
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Designation : |
Vice-President - Products |
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Name : |
Mr.K. B. Gopalakrishnan |
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Designation : |
Chief Financial Officer - |
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. Iqbal Mohammed Gul |
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2500 |
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Mr. Nishi A |
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9990 |
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Mr. Hassan Javad |
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37500 |
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Mr. Iqbal Mohamed Ali |
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10 |
(As on 31.03.2006)
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Category |
Percentage |
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Foreign holdings (Foreign institutional investors ) foreign companies
foreign financial institutions , non residents or Overseas corporate bodies
or others |
79.84 |
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Directors or relative of directors |
19.98 |
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Other top fifty (50) shareholders |
0.18 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Electronics Devices, SMT Assembly and Chip on Board
Assembly |
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Products : |
PC Boards |
PRODUCTION STATUS
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Electronics Devices |
Nos. |
4650000 |
4650000 |
280302 |
GENERAL INFORMATION
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Customers: |
·
Areva ·
Alstom ·
Ericsson ·
·
Lambda ·
ISO ·
DP
World ·
ABB ·
Novar ·
Siemens ·
Adva ·
Danaher ·
·
Tata ·
·
Tyco ·
Toshiba ·
NEC ·
Avanex ·
Gould ·
Solectron ·
Pegasus
Transtech ·
Am /
Comm Systems ·
Philips ·
Intel |
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No. of Employees
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2000 |
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Bankers : |
·
Indian
Bank Address: ·
The Address: No. 7, ·
State
Bank of Travancore ·
Federal
Bank ·
HSBC
Bank ·
Citi
Bank |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors 1 : |
Iyer Thomas and Sunney Chartered Accountants, |
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Auditors 2: |
Deloitte Haskins and Sells Chartered Accountants 100/2, |
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Associates : |
·
Swiftlink
Private Limited ·
Crysind
Electronics Private Limited [CIN U32109KL1992PTC006409] ·
Nortpak
Fibre Optics Private Limited [CIN U33201KL1992PTC006860] ·
Sun
Generic Cables Private Limited [CIN U31300KL1994PTC007867] ·
Nest
Inforamtiona Technologies Private Limited ·
Saba
Powerdex Private Limited ·
Nest
Power Electronics Private Limited [U31200KL2000PTC013605] ·
Network
Systems and Technologies Private Limited ·
Nest
Systems Private Limited [CIN : U72200KL1997PTC011153] ·
Swiftlink
Fibre Optics Private Limited ·
Sun
Precision Works Private Limited [CIN U28999KL1994PTC007865] ·
Nest
Magnetics Private Limited [CIN : U31904KL2000PTC014280] ·
Nest
Condiments Private Limited ·
Photon
Data Links Private Limited ·
J2 Optronics
Private Limited [CIN U33201KL1996PTC010702] |
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CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 100/- each |
Rs.100.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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700100 |
Equity Shares |
Rs. 100/- each |
Rs.70.010
millions |
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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 |
70.010 |
5.000 |
5.000 |
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2] Share Application Money |
250.003 |
0.000 |
0.000 |
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3] Reserves & Surplus |
525.480 |
498.786 |
410.602 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
845.493 |
503.786 |
415.602 |
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LOAN FUNDS |
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1] Secured Loans |
488.620 |
215.472 |
142.646 |
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2] Unsecured Loans |
539.376 |
113.027 |
52.697 |
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TOTAL BORROWING |
1027.996 |
328.499 |
195.343 |
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DEFERRED TAX LIABILITIES |
35.233 |
33.832 |
0.000 |
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TOTAL |
1908.722 |
866.117 |
610.945 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
308.119 |
241.902 |
237.368 |
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Capital work-in-progress |
157.930 |
17.333 |
0.000 |
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INVESTMENT |
163.595 |
90.151 |
40.350 |
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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 |
398.312
|
410.802 |
252.951 |
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Sundry Debtors |
319.492
|
325.539 |
193.882 |
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Cash & Bank Balances |
467.388
|
318.189 |
205.928 |
|
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Other Current Assets |
0.000
|
0.000 |
2.703 |
|
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Loans & Advances |
608.623
|
141.009 |
15.017 |
|
Total
Current Assets |
1793.815
|
1195.539 |
670.481 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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Current Liabilities |
475.360
|
605.277 |
308.337 |
|
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Provisions |
39.377
|
73.531 |
28.917 |
|
Total
Current Liabilities |
514.737
|
678.808 |
337.254 |
|
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Net Current Assets |
1279.078
|
516.731 |
333.227 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1908.722 |
866.117 |
610.945 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
2264.110 |
2217.581 |
1672.130 |
|
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Other Income |
51.937 |
16.507 |
8.047 |
|
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Total Income |
2316.047 |
2234.088 |
1680.177 |
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Profit/(Loss) Before Tax |
69.277 |
186.781 |
91.289 |
|
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Provision for Taxation |
43.419 |
66.399 |
29.362 |
|
|
Profit/(Loss) After Tax |
25.858 |
120.382 |
61.927 |
|
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Expenditures : |
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Financial Charge |
57.885 |
41.886 |
31.039 |
|
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Depreciation |
29.346 |
17.687 |
24.052 |
|
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Other Expenditure |
2159.539 |
1987.734 |
1533.797 |
|
Total Expenditure |
2246.770 |
2047.307 |
1588.888 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.12
|
5.39 |
3.68 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.06
|
8.42 |
5.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.29
|
12.99 |
10.05 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.37 |
0.22 |
|
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Debt Equity Ratio (Total Liability/Networth) |
|
1.82
|
1.99 |
1.28 |
|
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Current Ratio (Current Asset/Current Liability) |
|
3.48
|
1.76 |
1.98 |
LOCAL AGENCY FURTHER INFORMATION
Form 8
|
Corporation identity number or foreign
company registrations number of the company
|
U72900KL1990PTCC005620 |
|
Name of the company |
SFO TECHNOLOGIES PRIVATE LIMITED |
|
Address |
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This Form is for |
Creation of
charge |
|
Type of Charges |
Movable property
|
|
Particular of the charge holder |
Indian Bank Email: ibernaku@satyammail.com |
|
Nature or description of the instrument
creating charge |
·
Agreement
of irrevocable letter of credit ·
Agreement
of hypothecation of goods received under import letter of credit of Rs.
69.083 millions ·
letter
from borrower fro debiting of LC amount to OD –OCC – Current account |
|
Date of the instrument creating charge |
06.03.2007 |
|
Amount Secure by the charge |
Rs. 69.083
millions |
|
Brief of the principal terms and conditions
and extent and operation of the charge |
Rate
of Interest : Interest @ 6% over the banks Benchmark
Prime lending rate with a minimum of 18.5% per annum with monthly rest. Terms
of repayment: All bills drawn under the LC shall be paid
immediately on presentation if they sight bills on due dates if they are
Usance bills. Margin: Margin: 28.95% Extent
and operation of the charge: Machinery imported under the Import letter
of credit and stored / to be stored at Plot No. 2, Cochin Special economic
Zone, Kakkanad, |
|
Short particulars of the Property
charged |
Machinery imported under the import letter
of credit and stored / to be stored at plot No. 2, Cochin Special Economic
Zone, Kakkanad, Cochin – 682 037 |
WEBSITE DETAILS ATTACHED:
Profile
SFO
Technologies, a NeST Group Company is a highly diversified business
conglomerate, operating in the areas of software development, hardware
manufacturing, Optronics & Fiber optics, Broadband and RF & Microwave
solutions, Electronics R & D etc besides many traditional businesses. The
group has its presence across the globe.
The company has development centers located at
- Embedded System Development, including hardware design and product
development
- Industrial and Process Automation
- Consumer Electronics
- Medical Instrumentation
- Broadband Network Management Solutions
- Multimedia and Networking
- Security Solutions
- Business Software
- Client-server and Groupware applications
Corporate Profile
SFO Technologies,
a NeST Group Company is an International Corporate group, of over 25 companies
employing more than 3500 people worldwide, has a global export business
turnover in excess of $ 200 million. The Group has a strong presence in
futuristic Computer & Communication technology areas like Networking, Fiber
Optics, RF & Microwave and Software. SFO Technologies has many hardware and
software facilities spread across
All of these units are ISO 9001
certified and the Group now aspires to reach Six Sigma status in quality. The
software units of the group operating at
Press Releases
SFO Technologies IP - 802.11r Implementation
Voice over WLAN is one of the hottest areas where lot of R&D is happening specifically in minimizing the delays during data transfer while roaming.
A new wireless standard 802.11r is introduced by IEEE to tackle this problem. IEEE 802.11r achieves this by introducing heavily optimized mechanisms for security association establishment and reservation of QoS parameters in the network for a mobile unit when it moves from one Access Point to another.
Understanding the importance of IEEE 802.11r and its targets, SFO Technologies has already set its focus onto the implementation of 802.11r protocol stack. As of now SFO Technologies has a complete working prototype of the IEEE 802.11r draft specification. The stack enables the WLAN mobile units to achieve roaming in less than 20ms.
The architecture of SFO Technologies’ 802.11r protocol stack is sufficiently independent of the WLAN hardware used. Currently we support WLAN chips from Atheros and Marvel. This means that, our 802.11r stack can be readily used by our customers to implement 802.11r functionality in their Access Points and mobile units which uses these chipsets.
SFO Technologies can also provide 802.11r support for other WLAN chips as per requirements which involves minor development effort, thanks to the hardware independent and modular design of the protocol stack.
Ready to Deploy- VoWiFi 802.11r Support
|
OS |
Windows 2K/XP |
Linux(2.6
Kernel) |
|
Platform |
x86 |
x86, ARM |
|
Chipset |
Atheros |
Atheros Marvel Prism |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.50.03 |
|
|
1 |
Rs.74.42 |
|
Euro |
1 |
Rs.62.71 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
72 |
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 |
|