MIRA
INFORM REPORT
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Report Date : |
22.11.2008 |
IDENTIFICATION DETAILS
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Name : |
KARLE INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
No. 151, Industrial Suburb, Yeswanthpur, Bangalore-560022, Karnataka |
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Country : |
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Date of Incorporation : |
10.09.2008 |
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Com. Reg. No.: |
047741 |
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CIN No.: [Company
Identification No.] |
U51909KA2008PTC047741 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and
Exporter of Textile for Nike an Adidas |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
-- |
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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 successor to Karle International which was established in
1994. Trade relations are fair. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at
usual trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Shashidhar |
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Designation : |
Assistant Manager |
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Date : |
12.11.2008 |
LOCATIONS
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Registered Office : |
No. 151, Industrial Suburb, Yeswanthpur, Bangalore-560022, |
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Tel. No.: |
91- 80- 2373992 / 2371679 / 2378353/ 41285302-11 |
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Fax No.: |
91- 80- 2374729 |
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E-Mail : |
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Area : |
Rented |
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Factory 1 : |
Unit II, Survey
No. 26/1, 26/2 and 27/2, Mallarabanawadi Village, Kunigal Road, Kasaba Hobli,
Nelamangala Taluka, Bangalore, India |
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Tel. No.: |
91-80-23473442 |
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Fax No.: |
91-80-23373992 |
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Area : |
Owned |
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Factory 2 : |
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Tel. No.: |
91-80-23373992 |
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Fax No.: |
91-80-41285301/11 |
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Area : |
100000 Sq. ft
(Owned) |
DIRECTORS
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Name : |
Mr. Mahendra Karle |
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Designation : |
Director |
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Address : |
No. 26, F-1, Castle Rock, 1st |
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Date of Birth/Age : |
50 Years |
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Qualification : |
BE |
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Name : |
Mr. Sudershan Karle |
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Designation : |
Director |
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Address : |
No. 261, 4th |
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Date of Birth/Age : |
52 Years |
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Qualification : |
BE |
KEY EXECUTIVES
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Name : |
Mr. Shashidhar |
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Designation : |
Assistant Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.08.2008
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Names of Shareholders |
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No. of Shares |
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Sudershan Karle |
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480000 |
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Mahendra Karle |
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480000 |
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Fiona Karle |
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955000 |
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K |
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120000 |
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Kyung Seon Cho |
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955000 |
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Sudarshan Karle (HUF) |
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5000 |
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Mahendra Karle (HUF) |
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5000 |
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Total |
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3000000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Textile for Nike an Adidas |
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Products : |
Readymade
Garments
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Exports : |
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Products : |
Nike, Adidas Ann Tayler and
Lands End |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Credit ( 30 Days) |
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Purchasing : |
L/C, Credit (30 Days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
5000 |
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Bankers : |
State Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K A Radhakrishnan
and Company Chartered
Accountant |
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Name : |
H C Kincha and
Company Chartered
Accountant |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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730.000 |
Expected Sales (2008-09) : Rs. 1300.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
·
Ann Taylor
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Lands End Taxlar
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Adidas
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Nike
AS PER WEBSITE
Profile:
Karle International is the brainchild of the Visionary Industrialist,
the late Mr. L T Karle. What the founder began in 1972, is today the
internationally recognized leader in garments manufacturing.
From a modest start with 40 machines and a workforce of 100, Karle
brothers Mr.Sudarshan & Mr.Mahendra Karle along with efficient team have
expanded this business into a modern day state of the art manufacturing
facilities. The garment division has come to be an industry leader and the
benchmark for top quality and performance. Achieving spectacular successes in
the 80s and 90s, Karle is today the most sought after destination for the
world’s leading fashion houses.
Employing best practices, they have nurtured a highly skilled talent
pool that is at the core of all the successful forays. The highest importance
placed on ethical practices and transparent policies has earned accolades from
peers and leading institutions as a leader, an innovator, and a socially
responsible organization.
In the endeavor to server the customers better, the group is working to
establish operations in
The Group is managed by Professionals & Technocrats experienced in
International business for nearly three decades.
A U.S based non-government organization Global Alliance, has validated
Karle Garments compliance to global best practices.
On the strength of the past and a vibrant future ahead, they continue in
the quest to be an exciting organization that excels in:
• New technology adoption.
• Boundary-less manufacturing capabilities.
• Nurturing strategic partnerships.
The highly efficient process-driven production ensures on-time deliveries.
The Road Ahead
They firmly believe in the commitment to adopt and absorb the latest
technology.
They are committed to:
• Be a leading global player in garment design and production
• Expand globally and locally.
• Continually enhance skill levels of the workforce.
• Exceed in the social responsibilities via the worker and environmental
friendly initiatives.
• Achieve Zero defect production performance.
Infrastructure:
Head quartered in
The
Compliances:
Karle facilities conform to the international
compliance norms, rated as leaders in the country and are comparable to the
best in the world.
All the facilities are role model
factories conforming to international compliance norms
The code of conduct enshrines
stringent human right norms that meet the requirement of all the international
customers
Worker safety and welfare finds
top priority in everything they do
Conservation of nature is not
just a commitment, it’s a way of life
C-TPAT Compliant To Provide Safe Merchandise
Customs Trade Partnership against Terrorism
(C-TPAT) is a major concern amongst the
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 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
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Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.03 |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.67.71 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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63 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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