MIRA
INFORM REPORT
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Report Date : |
01.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TULSIDAS KHIMJI PRIVATE LIMITED |
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Registered Office : |
46, Veer Nariman Road, Fort, Mumbai – 400 001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
05.04.1954 |
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Com. Reg. No.: |
11-9271 |
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CIN No.: [Company
Identification No.] |
U17120MH1954PTC009271 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT09375C |
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PAN No.: [Permanent
Account No.] |
AAACT4123G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Importers and
Exporters of International Air and Sea Freight Forwarders, Consolidators,
Customs Clearance, Door to Door Services ( International and Domestic) |
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 120000 |
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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 pretty-old and established company having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. R R Sharma |
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Designation : |
Finance Manager |
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Date : |
30.09.2008 |
LOCATIONS
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Registered Office : |
46, Veer Nariman Road, Fort, Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-66171819 / 56334161-70 |
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Fax No.: |
91-22-22044649 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. ft. |
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Location : |
Owned |
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Branch Office : |
Tel. No. 91-79-7540661/7541810 Fax No. 91-79-7541528 E-mail : tkamd@icenet.net
Tel. No. 91-80-51126137/38 Fax No. 91-80-5597892 E-mail : tkblr@vsnl.com
Tel. No. 91-44-22560631/656 Fax No. 91-44-22560106 E-mail : tkmaa@vsnl.com
Tel. No. 91-11-25653328/2299 Fax No. 91-11-25652158 E-mail : tkdel@vsnl.com
Tel. No. 91-731-496595 Fax No. 91-731-5066012
Tel. No. 91-821-546891 Fax No. 91-821-544525
Tel / Fax No. 91-712-247953
Tel/Fax No. 91-233-330666
Tel. No. 91-20-6681937 Tel/Fax No. 91-20-6681937 E-mail : tdkpl@eth.net
Tel/Fax No. 91-265-2491944 E-mail : tkbdq@icenet.net |
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Accounts Office : |
Jakharia Bunder Road, Opp. Cotton Green Railway Station, Mumbai – 400
033, Maharashtra, India |
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Tel. No.: |
91-22-24717136 / 37/ 38 / 39 |
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Cargo Office : |
Adarsh Industrial Estate, Opp. Cigarette Factory, Chakala, Andheri
(East), Mumbai, Maharashtra, India |
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Domestic Booking Office : |
Ballet Bear, Near Cargo Office |
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Regional Office : |
Located at ·
Ahmedabad ·
Bangalore ·
Chennai ·
Kandla ·
Vadodara ·
Nagpur |
DIRECTORS
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Name : |
Mr. Shantu Karsandas |
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Designation : |
Director |
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Address : |
201, 2nd Floor, ‘Sanskruti’ Plot No. 79, 9th
North South Road, J V P D Scheme, Vile Parle (West), Mumbai – 400 056,
Maharashtra, India |
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Date of Birth/Age : |
13.10.1929 |
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Qualification : |
Graduate from California University |
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Date of Appointment : |
02.10.1984 |
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Other Directorship : |
·
T Khimji Logistics Private Limited ·
Transcargo India Private Limited ·
T Khimji Associates |
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Name : |
Mr. Hemant Moolsinh Bhatia |
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Designation : |
Director |
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Address : |
Fair Haven, Flat No. 5 and 6, Doongursey Road, Malabar Hill, Mumbai –
400 006, Maharashtra, India |
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Date of Birth/Age : |
14.01.1960 |
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Qualification : |
Graduate, Diploma in DGR |
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Date of Appointment : |
08.07.1994 |
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Other Directorship : |
·
T Khimji Logistics Private Limited ·
Air Cargo Agents Association of India ·
T Khimji Associates |
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Name : |
Mr. H K Shah |
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Designation : |
Director |
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Address : |
241-B, Grand Paradi Apartment, August Kranti Marg, Mumbai – 400 036,
Maharashtra, India |
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Date of Birth/Age : |
28.01.1926 |
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Qualification : |
Advisory Capacity |
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Date of Appointment : |
12.02.1997 |
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Other Directorship : |
·
Centraline Lubra – Tech Engineer Private Limited ·
Shavo Technologies Private Limited |
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Name : |
Mr. Prakash V Mehta |
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Designation : |
Director |
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Address : |
123 A, Maker Tower, Cuffe Parade, Mumbai – 400 005, Maharashtra, India |
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Date of Birth/Age : |
12.02.1942 |
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Date of Appointment : |
01.01.2003 |
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Other Directorship : |
·
Advani Hotels and Resorts (I) Limited ·
Bharat Bijlee Limited ·
Hikal Chemicals Industries Limited ·
India Safety Vaults Limited ·
Kristeel Shinwa Industries Limites ·
KJMC Investments Trust Company Limited ·
Mukund Engineers Limited ·
Omega Management Services Limited ·
PCS Industries Limited ·
Rajasvi Properties Holdings Private Limited ·
W H Brady and Company Limited ·
JBF Industries Limited ·
Malvi Ranchoddas and Company ·
Malvi Ranchoddas Girish N Shah and Company |
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Name : |
Mr. Rajen S Bhatia |
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Designation : |
Director |
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Address : |
1103, Panchvati CHS, Panch Marg, Off Yari Road, Versova, Mumbai – 400
061, Maharashtra, India |
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Date of Birth/Age : |
13.04.1971 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.01.2003 |
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Other Directorship : |
T Khimji Associates |
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Name : |
Mr. N. K. Patel |
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Designation : |
Advisory Director |
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Address : |
15, Kairavi Bunglow,
Vastrapur Road,Badakdev, Ahmedabad – 380015, Gujarat |
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Date of Appointment : |
12.02.1997 |
KEY EXECUTIVES
|
Name : |
Mr. Kiran Panchmatia |
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Designation : |
Company Secretary |
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Address : |
A/601, Suchita Enclave, Maharashtra Nagar, L T Road, Borivali (West),
Mumbai – 400 092, Maharashtra, India |
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Tel No.: |
91-22-23440705 / 28917168 |
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Fax No.: |
91-22-66312950 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
List of Allottees (As on 26.10.2007)
|
Names of Allottees |
No. of Shares |
|
Hemant Moolsinh Bhatia |
4920 |
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Hemant Moolsinh Bhatia HUF |
1020 |
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Moolsinh Karsandas Bhatia |
2160 |
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Priti Hemant Bhatia |
3360 |
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Parul S Bhatia |
900 |
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Rajen Shantu Bhatia |
7320 |
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Shantu Karsandas |
1800 |
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Shantu Karsandas HUF |
780 |
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Tara Moolsinh Thakkar |
6000 |
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Tara Moolsinh Thakkar |
7980 |
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Usha Shantu |
11760 |
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Total |
48000 |
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
|
Line of Business : |
Manufacturers, Importers
and Exporters of International Air and Sea Freight Forwarders, Consolidators,
Customs Clearance, Door to Door Services ( International and Domestic) |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
·
Corporates ·
Banks |
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No. of Employees : |
375 (In Office 125 and including all offices 250) |
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Bankers : |
·
Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227, D Nariman
Point, Mumbai – 400 021, W.E.F. 29.01.2001, Mumbai – 400 021, Maharashtra,
India ·
HDFC Bank Limited Worli Branch, Sandoz House, Worli, Mumbai,
Maharashtra, India ·
Dena Bank Main Office, Fort, Mumbai, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B L Dasharda and Associates Chartered Accountants |
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Address : |
2, Shreyas, Ground Floor, Behind Raj Oil Center, 113, J P Road, Andheri
(West), Mumbai – 400 058, Maharashtra, India |
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Sister Concerns : |
·
T. Khimji Associates Engaged in Distribution and Warehousing. ·
T. Khimji Logistics
Private Limited Acts as Logistics Provider for Transit Warehousing and Distribution. |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24000 |
Equity Shares |
Rs.100/- each |
Rs.2.400
millions |
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 |
2.400 |
1.600 |
1.600 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
22.689 |
15.910 |
12.814 |
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4] (Accumulated Losses) |
(0.300) |
0.000 |
0.000 |
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NETWORTH |
24.789 |
17.510 |
14.414 |
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LOAN FUNDS |
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1] Secured Loans |
10.367 |
9.093 |
9.113 |
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2] Unsecured Loans |
6.656 |
6.600 |
4.500 |
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TOTAL BORROWING |
17.023 |
15.693 |
13.613 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.108 |
0.275 |
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TOTAL |
41.812 |
33.311 |
28.302 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.046 |
8.456 |
6.432 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.025 |
0.025 |
0.025 |
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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 |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
77.035
|
59.950 |
48.650 |
|
|
Cash & Bank Balances |
2.009
|
2.232 |
4.847 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
15.318
|
13.179 |
14.494 |
|
Total
Current Assets |
94.362
|
75.361 |
67.991 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
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|
Current Liabilities |
49.642
|
41.642 |
37.774 |
|
|
Provisions |
11.979
|
8.889 |
8.372 |
|
Total
Current Liabilities |
61.621
|
50.531 |
46.146 |
|
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Net Current Assets |
32.741
|
24.830 |
21.845 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
41.812 |
33.311 |
28.302 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
74.940 |
57.098 |
50.115 |
|
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Other Income |
0.000 |
0.000 |
0.000 |
|
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Total Income |
74.940 |
57.098 |
50.115 |
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|
|
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|
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|
Profit/(Loss) Before Tax |
16.685 |
9.217 |
4.372 |
|
|
Provision for Taxation |
6.335 |
4.752 |
2.269 |
|
|
Profit/(Loss) After Tax |
10.350 |
4.465 |
2.103 |
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Expenditures : |
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|
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|
|
Depreciation & Amortization |
2.245 |
1.827 |
1.654 |
|
|
Other Expenditure |
56.010 |
46.054 |
44.089 |
|
Total Expenditure |
58.255 |
47.881 |
45.743 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
13.80
|
7.82 |
4.20 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
22.26
|
16.14 |
8.72 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.14
|
10.99 |
5.87 |
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.67
|
0.53 |
0.30 |
|
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|
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|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.17
|
3.78 |
4.15 |
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.49 |
1.47 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Crompton Greaves
·
U S B Pharmaceutical
·
Tata Motors
·
TVS Dupli Group
Form No. 8
|
Name of the company |
TULSIDAS KHIMJI PRIVATE LIMITED |
|
Presented By |
HDFC Bank Limited
and Tulsidas Khimji Private Limited |
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1) Date and description of instrument creating the change |
Dated : 8th
October, 2004. Letter of
Hypothecation of Book Debts |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.8.000 millions By way of
Overdraft and Bank Guarantee |
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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 |
All the book
debts, outstandings monies receivable, claims and bills which are now due and
owing or which may at any time hereafter during the continuance of this
security becomes due and owing to the Company in the course of its business
by any person, firm, company or body corporate or by the Government
Department or office or any Municipal or Local or Public or Semi Government
Body or authority or any body corporate or undertaking or project whatever in
the public sector. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
·
The above
book debts hypothecated by way of first charge as a continuing security the
due repayment by company to the Bank at any time on demand. ·
The Borrower
shall at all times during the continuance of this security maintain the said
hypothecated debts of a sufficient quantity and amount (as estimated by the
Bank) so as to provide the margin of security as may from time to time be
advised by the Bank to the Company. ·
This
security shall be and remain as a continuing security for all company’s
indebtedness and liabilities either alone or jointly with any other person/s
on ay account whatsoever and for the ultimate balance due to the Bank. |
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5) Name and Address and description of the person entitled to the charge. |
HDFC Bank Limited Worli Branch, Sandoz House, Worli, Mumbai, Maharashtra, India |
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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. |
Web Details
Profile
In the year 1895, Seth Tulsidas
then in his early twenties, started a firm in his own name -"TULSIDAS
KHIMJI", with a table space in a reputed Bank. Slowly, the firm grew in strength
and one after another various departments were formed. With the growth of
business and the family, the firm became a partnership in which his sons,
nephews and later, his grandsons joined as partners. The rapid growth of the
firm necessitated the original firm to be converted into a Private Limited
concern on 7th December 1961.
Since early years "TK"
used to handle not only the imports and exports of general cargo but also gold,
silver and currency notes to and from various parts of the world by sea, land and air.
They may be rightly called one
of the pioneers in air cargo as they were handling bullion as agents for
Imperial Airways (British Airways) and KLM in the thirties from Bombay and
Karachi. Soon after the end of the war, IATA started appointing agents for
promoting passenger and cargo in India. They were appointed as IATA Approved
Cargo Agents as early as 1949.
With the introduction of the "Ready for Carriage"
resolution by IATA, cargo agents' gained prominence as their services were required
both for sales as well as proper documentation and labelling of consignments.
In order to fulfill the requirements of the customers, since 1975 they
established branches in four regions of the country and the trend continues as
per demand.
To meet the requirements of overseas forwarders from various
countries, they started operating as Breakbulk agents in early 1960's for well
- known consolidators both Sea and Air.
They are fully aware of the commitment to customers and the
competitive conditions under which we are working. This enables them to serve
as freight forwarders in the most
professional manner. They are striving towards excellence in service and
have not forgotten the original objective of deligence, honesty, integrity and
sincerity of purpose which are the hallmarks of our century -old reliable
organisation!
Group Companies
T Khimji
Associates
TK Logistics Group had identified warehouse as one
of the key component of national and international trade. With this focus, TK
Logistics Group had set up large warehouses at strategic locations in and
around the port. Now, the warehousing activities of the TK Logistics Group are
carried out by T. Khimji Associates, a partnership company owned by the same
management. The Company commands over 20,000 sq. ft of own warehouse in Cotton
Green (W), Mumbai (Bombay). It also has warehouses at Panvel, Bhiwandi and
outskirts of Pune. Non - hazardous cargo meant for exports and imported cargo
pending final consumption and those that are to be further distributed within
the country are kept in the warehouses. Some of these warehouses are equipped
with electrical cranes to cater to specific handling requirement of the
clients.
T Khimji Logistics
Logistics may be the new buzz word today…..
T. Khimji Logistics Pvt. Ltd. Is the logistics arm of the
TKPL Group. T. Khimji Logistics brings together the various in-house logistics
components together and offer global logistics solutions to its customers. The
company caters to customized logistics requirements of our customers. They specialize in customised Supply - Chain
Logistics solutions. For the maximum price advantage, some of the
components are outsourced. The areas of expertise include:
·
Site identification and selection
·
Setting up of storage capacities
·
Inventory and Distribution Management
Company also undertakes warehouse management with our
well-trained manpower.
Milestone
|
1895 |
The Pioneer begins it's
journey from Mumbai (Bombay). The firm Tulsidas Khimji starts it's operations
in this year. |
|
1917 |
Custom House Agents (CHA)
License obtained. |
|
1918 |
Moved to Current Corporate
Office. |
|
1921 |
Appointed as Approved
Warehouse keepers for Banks and sets up it's own Warehouses for this purpose. |
|
1933 |
Commenced Operations in
Karachi. |
|
1946 |
Appointed as the Cotton
controller by the East India Cotton Association Ltd., Mumbai. |
|
1949 |
Certified as the first IATA
approved Cargo Agent. |
|
1961 |
Acquried Corporate status as
Private Limited Co. |
|
1966 |
Begins Import Consolidation / Break
Bulk. |
|
1970 |
The Organisation celebrates
it's Platinum Jubilee. |
|
1971 |
City Booking Office started. |
|
1977 |
Airport Operations Office
started in Mumbai. |
|
1978 |
Commenced Operations in
Bangalore. |
|
1979 |
Appointed Cargo Agents for Indian
Airlines. |
|
1980-88 |
Rapid expansion with the
launch of operations from Ahmedabad, Chennai, Delhi, Mysore and Calcutta (now
Kolkata). |
|
1995 |
First Century of Operations
completed. |
|
1997-2000 |
Expansion of Operations at
Pune, Nagpur, Sangli, Indore and Vadodara. |
|
2003 |
Joined World Cargo Alliance
(WCA). |
|
2004 |
Joined China Global Logistics
Network (CGLN). |
|
2005 |
ISO 9001 : 2000 Certified. |
TK in News
Samman Patra - 1999
Award by Singapore Airlines - 1999
Indian Airlines Awards - 2001
Hemant
Bhatia, Director - Chairman of ACAAI
Tie up with all Cargo Movers - 2002
TKPL first to use "INTTRA" - 2002
TKPL offers Logistics Solutions - 2003
ISO 9001:2000 for Air Division - 2005
Best Partner Award (WCA) - 2005
ISO 9001:2000 for Sea Division - 2006
Freight Fraternity Award
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 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|