MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AKAR LIMITED |
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Formerly Known As : |
AKAR PRINTERS LIMITED |
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Registered Office : |
223/2234, Laxmi Plaza, New Link Road, Andheri (West), Mumbai – 400053,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.01.1987 |
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Com. Reg. No.: |
11-42216 |
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CIN No.: [Company
Identification No.] |
U22219MH1987PLC042216 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA19880A |
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PAN No.: [Permanent
Account No.] |
AAACA3955F |
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Legal Form : |
Closely held Public Limited Liability Company |
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Line of Business : |
Manufacture and Exporter of Paper Product |
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 270000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade relations are fair. Payments are reported as correct and as per
commitment. The company can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
223/2234, Laxmi Plaza, New Link Road, Andheri (West), Mumbai – 400053,
Maharashtra |
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Tel. No.: |
91-22-26374053 |
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Fax No.: |
91-22-26312100 / 26358352 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 260-2A, Demni Road, U T of Dadra and Nagar Haveli, Silvassa
396 230, India |
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Tel. No.: |
91-260-2668365 / 66 / 3091359 |
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Fax No.: |
91-260-2668365 |
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E-Mail : |
DIRECTORS
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Name : |
Mr.Ashok Kumar Jain |
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Designation : |
Chairman and Managing Director |
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Address : |
501 – Jeevan Anand, Oberoi Complex, New Link Road, Andheri (West),
Mumbai – 400053, Maharashtra. |
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Date of Birth/Age : |
20.02.1953 |
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Date of Appointment : |
14.01.1987 |
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Name : |
Mr. Sunil Gopal Shikarkhane |
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Designation : |
Whole Time Director |
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Address : |
B-204, Vastu Park, Evershine Nagar, Linking Road, Malad (West), Mumbai
– 400 064, Maharashtra, India |
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Date of Birth/Age : |
20.12.1965 |
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Date of Appointment : |
03.04.1994 |
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Name : |
Mr. Rahul Ashok Jain |
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Designation : |
Executive Director |
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Address : |
501 – Jeevan Anand, Oberoi Complex, New Link Road, Andheri (West), Mumbai
– 400053, Maharashtra. |
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Date of Birth/Age : |
20.01.1983 |
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Date of Appointment : |
01.03.2004 |
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Name : |
Mr. Mahesh Jashvantrai Desai |
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Designation : |
Director |
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Address : |
603 /A, Green Field, Lokhandwala Complex, Andheri (West), Mumbai –
400053, Maharashtra |
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Date of Birth/Age : |
26.11.1956 |
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Date of Appointment : |
31.03.2006 |
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Name : |
Mr. Haridwar Baaliram Shah |
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Designation : |
Whole Time Director |
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Address : |
B – 803, Avon Majesty, Dattapada Road, Borivali (East), Mumbai –
400066, Maharashtra |
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Date of Birth/Age : |
01.08.1958 |
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Date of Appointment : |
17.07.1992 |
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Name : |
Mr. Harsh Tolia |
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Designation : |
Director |
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Address : |
16, Hema Plot No. – 353, B – 38, Vallabh Baugh Lane, Ghatkoper (East),
Mumbai – 400077, Maharashtra |
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Date of Birth/Age : |
22.08.1949 |
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Date of Appointment : |
31.03.2006 |
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Name : |
Mrs. Jyoti Jain |
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Designation : |
Whole Time Director |
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Address : |
501 – Jeevan Anand, Oberoi Complex, New Link Road, Andheri (West),
Mumbai – 400053, Maharashtra. |
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Date of Birth/Age : |
11.02.1961 |
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Date of Appointment : |
01.07.1990 |
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Name : |
Mr. Ashok Tholiya |
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Designation : |
Director |
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Address : |
Tholya Bhavan, 1st Floor, 10th Road, Santacruz
(West), Mumbai – 400 055, Maharashtra, India |
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Date of Birth/Age : |
10.08.1955 |
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Date of Appointment : |
14.10.2004 |
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Name : |
Mr. Chandramohan Anchan |
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Designation : |
Director |
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Address : |
3, Iswar Bhavan, 2nd Cross Lane, Linerty Garden, Malad
(West), Mumbai – 400 064, Maharashtra, India |
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Date of Birth/Age : |
25.06.1941 |
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Date of Appointment : |
14.10.2004 |
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Name : |
Mr. Chander Prakash Asnani |
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Designation : |
Executive Director |
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Address : |
A-904, Apollo Hiranandani Estate, Ghodbunder Road, Thane (West),
Mumbai – 400 607, Maharashtra, India |
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Date of Birth/Age : |
07.06.1956 |
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Date of Appointment : |
14.10.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
No. of Shares |
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Ashok Kumar Jain |
361970 |
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Hemchand Jain |
1300 |
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Shantidevi Jain |
1300 |
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Jyoti Jain |
287950 |
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Kamal Jain |
100 |
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Ashok Kumar Jain |
1873800 |
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Jyoti Jain |
950200 |
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Haridwar Shah |
65 |
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Sunil Shikharkane |
65 |
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Rohan Jain |
1200 |
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Total |
3477950 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture and Exporter of Paper Product |
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Products : |
·
Note books ·
Exercise Books ·
Drawing Books ·
Subject Note for School Students ·
Cube Block ·
Address Books ·
Legal Pads ·
Floral Pads, ·
Multicolor Printed Cubes ·
Calenders ·
Dairies ·
Memos Reminders ·
Shopping Lists ·
Paper Napins ·
Guest Book |
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Exports : |
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Countries : |
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Hong Kong ·
Germany ·
United Kingdom |
GENERAL
INFORMATION
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Bankers : |
The Bharat Co- Operative Bank Limited Andheri (West) Branch, B-Plot No. 10, Opp. Citi Mall, New Link Road,
Andheri (West), Mumbai – 400058, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S.N. Kankaria and Company Chartered Accountants |
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Address : |
III, Veena Chambers, 21 Dalal Street, Fort, Mumbai – 400 001,
Maharashtra, India |
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Internal Auditors : |
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Name : |
Mahesh Dave and Company Chartered Accountants |
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Address : |
401, Vandana Apartments, Opp. Sahyog Society, Eksar Road, Borivali
(West), Mumbai – 400 092, Maharashtra, India |
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Memberships : |
·
IMC ·
IGCC ·
IAS |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3477950 |
Equity Shares |
Rs. 10/-
each |
Rs.34.780
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
34.780 |
34.780 |
34.779 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
18.254 |
15.809 |
16.226 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
53.034 |
50.589 |
51.005 |
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LOAN FUNDS |
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1] Secured Loans |
101.565 |
100.848 |
79.139 |
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2] Unsecured Loans |
3.776 |
4.693 |
0.820 |
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TOTAL BORROWING |
105.341 |
105.541 |
79.959 |
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DEFERRED TAX LIABILITIES |
14.423 |
14.276 |
13.776 |
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TOTAL |
172.798 |
170.406 |
144.740 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
104.671 |
108.035 |
111.166 |
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Capital work-in-progress |
5.578 |
0.318 |
0.302 |
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INVESTMENT |
0.105 |
0.105 |
0.105 |
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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 |
80.546
|
73.498 |
50.303 |
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Sundry Debtors |
28.664
|
16.128 |
24.166 |
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Cash & Bank Balances |
2.873
|
4.325 |
1.229 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
8.895
|
10.933 |
10.260 |
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Total
Current Assets |
120.978
|
104.884 |
85.958 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
58.534
|
42.936 |
46.842 |
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Provisions |
0.000
|
0.000 |
5.949 |
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Total
Current Liabilities |
58.534
|
42.936 |
52.791 |
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Net Current Assets |
62.444
|
61.948 |
33.167 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
172.798 |
170.406 |
144.740 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
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Sales Turnover |
205.633 |
178.116 |
160.158 |
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Other Income |
1.133 |
0.914 |
0.849 |
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Total Income |
206.766 |
179.030 |
161.007 |
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Profit/(Loss) Before Tax |
5.309 |
0.303 |
161.007 |
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Provision for Taxation |
2.865 |
0.919 |
0.000 |
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Profit/(Loss) After Tax |
2.444 |
(0.616) |
161.007 |
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Earnings turnover |
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Sale of goods manufactured |
0.000 |
0.000 |
10.340 |
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Sale of supply of services |
5.959 |
178.116 |
0.000 |
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Total Earnings |
5.959 |
178.116 |
10.340 |
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Expenditures : |
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Raw Material Consumed |
113.713 |
96.003 |
0.000 |
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Salaries, Wages, Bonus, etc. |
11.253 |
13.530 |
0.000 |
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Managerial Remuneration |
2.460 |
2.160 |
0.000 |
|
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Payment to Auditors |
0.074 |
0.039 |
0.000 |
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Interest |
11.931 |
13.055 |
0.000 |
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Insurance Expenses |
0.486 |
0.728 |
0.000 |
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Power & Fuel |
1.308 |
1.148 |
0.000 |
|
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Depreciation & Amortization |
7.456 |
7.225 |
0.000 |
|
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Other Expenditure |
52.776 |
44.839 |
0.000 |
|
Total Expenditure |
201.457 |
178.727 |
0.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.18
|
(0.34) |
100.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.58
|
0.17 |
100.00 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.35
|
0.14 |
81.68 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.01 |
3.16 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.09
|
2.93 |
2.60 |
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Current Ratio (Current Asset/Current Liability) |
|
2.07
|
2.44 |
1.63 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Name of the company |
AKAR LIMITED |
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Presented By |
The Bharat Co-Operative Bank Limited
, Andheri (west) Branch, Mumbai – 400058 |
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1) Date and description of instrument creating the change |
31st March 2004 (a) Hypothecation of Tangible Movable Property (b) Charge and Hypothecation of Book Debts (Both the above documents
constitute a single charge) |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 4.000 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 |
At the request of the Borrower, the Bank has sanctioned Letter of
Credit Limit of Rs.4.000 millions. To secure the due repayment of the Letter
of Credit Limit and for interest and other charge thereon, first charge and hypothecation
in favour of the bank. All the outstanding book debts, money receivables, claims and approve
book debts, due to the borrower’s and bills which are now due and owing or
which mat ay any time hereafter during the continuance of this security become
due and owing to the borrower/s in the course of its business by any person,
firm, Company or by the Government or any local or public body or authority. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest at the rate of 12.00% p.a. with monthly rest or at such rate
as may be prescribed by Reserve Bank of India from time to time and for
costs, charges and expenses together with interest, compound interest,
additional penal interest, further interest, liquidated damages, commission,
costs, charges, expenses and all other money payable there on by the said
Company to the Bank under the said letters of sanction as amended from time
to time. |
|
5) Name and Address and description of the person entitled to the
charge. |
The Bharat Co- Operative Bank Limited Andheri (West) Branch, B-Plot No. 10, Opp. Citi Mall, New Link Road,
Andheri (West), Mumbai – 400058, Maharashtra, India |
|
6) Date and brief description
of instrument modifying the charge |
N.A. |
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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. |
N.A. |
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Corporate
identity number of the company |
U22219MH1987PLC042216 |
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Name of the
company |
AKAR LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
223/2234, Laxmi Plaza, New Link Road, Andheri (West), Mumbai – 400053,
Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
The Bharat Co- Operative Bank Limited Andheri (West) Branch, B-Plot No. 10, Opp. Citi Mall, New Link Road, Andheri
(West), Mumbai – 400058, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of
Release |
|
Date of
instrument Creating the charge |
13.08.2008 |
|
Amount secured by
the charge |
Rs.5.000 millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate of
interest As agreed by the Borrower Company with the bank ·
Terms of
repayment As agreed by the Borrower Company with the bank ·
Margin As agreed by the Borrower Company with the bank ·
Extent and
operation of the charge At the request of the Borrower the Bank has released Industrial unit
no 1/1 at survey no. 260, Building no. 1, Ankur Industrial Estate, Village
Dadra in Union Territory of Dadra and Nagar haveli, Silvassa from the existing
mortgage charge for limits sanctioned to the Company. The charge remains
unaltered at Rs.5.000 millions |
|
Particulars of
the property charged |
At the request of
the Borrower the Bank has released Industrial unit no 1/1 at survey no. 260,
Building no. 1, Ankur Industrial Estate, Village Dadra in Union Territory of
Dadra and Nagar haveli, Silvassa from the existing mortgage charge for limits
sanctioned to the Company. The charge remains unaltered at Rs.5.000 millions |
|
Particulars of
the present modification |
At the request of
the Borrower the Bank has released Industrial unit no 1/1 at survey no. 260,
Building no. 1, Ankur Industrial Estate, Village Dadra in Union Territory of
Dadra and Nagar haveli, Silvassa from the existing mortgage charge for limits
sanctioned to the Company. The charge remains unaltered at Rs.5.000 millions |
Web Details:
Profile
Subject is a closely held profit making company. It has its
genesis in a proprietorship firm established in the year 1976 by its present
Managing Director Mr. Ashok Jain. Uptill, 1986 it was working more like an
outsourcing firm getting jobs printed at different printing presses.
Year 1987 : the company took its root as a corporate entity, when
it was incorporated as Akar Print and Pack Private Limited. During the same
year it set up its own production facilities.
Year 1994 : the company was converted as a
closely held limited company. To keep pace with the growth the need for
professionalisation of the management was felt, it was decided to invite
professionals on the Board of Directors of the company.
Year 1995 : The company shifted production base
to Silvassa, Union Territory of Dadra and Nagar Haveli. This was necessary, to
facilitate the expansion plans and to avail fiscal benefits offered by the
Government of India.
Year 1997 : a dormitory with canteen facility
was set up in a separate premises admeasuring 8,000 sq.ft. area. to provide
free lodging and boarding facility to all our 100+ workers, supervisors and
managers.
Year 2000 : was the year of information
technology, it was the period when dotcom revolution was taking place. They
too, decided to take a plunge in this revolution by creating an ultra-modern
creative studio. Since then, they are providing contents and creative graphics
to the Pharmaceutical clients.
Year 2002 : They established an ultra modern
Corporate and Marketing office at its present premises at Laxmi Plaza, Laxmi
Industrial Estate, New Link Road, Andheri (W), Mumbai. They manufacture and
market products and services under the following four categories.
Printing : A versalite Printing House equipped with the best technology, Subject
operates in a humidity controlled, dust free and totally air-conditioned
shopfloor. The press is capable of executing the most sophisticated job with
precision and care. With qualified team of professionals and strong base of
technology, AKAR quest for perfection is bound to make it a leading name in
commercial printing. They handle Calendars, Brochures, Catalogues, Visual Aids,
Literature, medical Charts, Hardbound Books etc. to client specifications.
Promotion : They manufacture highly innovative tailor-made
customized products on special order for the corporate customers form various
industries like FMCG, Telecom, Shipping, Travel, Distilleries, Pharmaceuticals,
etc. These products are meant to be used as give away gifts for their
brand/product promotion. These products are designed with a specific purpose of
regular creating brand recall value. This has been a specialized segment for
them and over a period of more than two decades, they have developed 1,000+
products.
Stationery : Theirs is the only company which manufactures
products to satisfy the need of all the 3 categories namely Back to School,
Office and Gift Stationery (Premium)
Back to School : They manufacture Note Books,
Exercise Boks, Long Books, Drawing Pads, Journal Papers, Subject Note for
School and College Students.
Office : Product range includes Writing Note Pads, Spiral Pads,
Double Wiro-O-Pads, Cube Block, Address Books, Legal Pads. etc.
Gift : For household use, we manufacture eye catching paper
products for day to day use. The range includes Floral Pads, Multicolour
Printed Cubes, Calendars, Diaries, Memos, Reminders, Shopping List, Paper
Napkins, Guest Books etc.
Publication : They Print Medical Books covering complete Human
Anatomy. These Books are printed on copyrights assigned to us from author or on
the basis of reproduction rights from publishers. The latest Medical Research
and Developments are printed in the form of Books, Journals or Articles for
medical fraternity. To support our above activities they have vibrant in-house
creative team. They use latest generation Scanners, Image Setters and
Outputting and Proofing Devices.
They are proud to be associated with the most talented
managerial and creative personnel. The collective wisdom of these people keep
guiding the company in its present and future growth strategies.
The
company has made all round progress during the past years under the able
guidance and unstinted efforts of its Managing Director Mr. Ashok Kumar Jain,
who has over 28 years of experience in the Paper and Printing industry.
The Managing Director is ably assisted in his functions by the team of
following members of the Board of Directors :
Mr. Sunil G. Shikarkhane, Director, Marketing and Sales,
having experience of over 18 years in the field of Marketing/Sales and is
associated with the company for over 12 years.
Mr. Haridwar B. Shah, Director, Production and Planning,
having experience of over 22 years in the Printing Industry and is associated
with the Company for the past 20 years.
Mr. Rahul Jain, Director, System Development
Mrs. Jyoti A. Jain, Director, Administration, has been associated
with the Company since its incorporation.
All the directors are well qualified and possess adequate
knowledge and experience in the respective field of their activities. They are
assisted by a dedicated and competent team of executives.
Infrastructure
They have two
manufacturing plants located at Dadra (Union Territory of Dadra and Nagar
Haveli) and the other at the Gujarat-Maharashtra border. Their production
process is vertically integrated, having modern design studio, pre-press
set-up, printing, finishing, and binding. They use the latest generation
Scanners, Image Setters and Color Outputting and Proofing Devices. They
have a modern office in the heart of the vibrant city of Mumbai, they also have
a huge production area and a large warehouse to store 1500 tones of raw
material and finished products. Their team of 40 trained managers, supervisors
and office staff work with the sole mission of delivering quality products at
competitive prices promptly. They combine technology with highly skilled human
resources for making quality products. The human resource is always upgraded by
continuous training and motivation.
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.46.94 |
|
UK Pound |
1 |
Rs.85.57 |
|
Euro |
1 |
Rs.67.79 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|