MIRA
INFORM REPORT
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Report Date : |
03.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
PAHARPUR -3P-UNIT OF PAHARPUR INDUSTRIES LIMITED |
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Registered Office : |
25, Community
Centre East, Of Kailash, Delhi – 110065 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.10.1936 |
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Com. Reg. No.: |
000564 |
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CIN No.: [Company
Identification No.] |
U74899DL1936PLC000564 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELP08276C /
DELP03762D |
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PAN No.: [Permanent
Account No.] |
AAACP1205F |
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Legal Form : |
A
closely held public limited liability company. |
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Line of Business : |
Manufacturer
of plastic products such as plain flexible films, laminated flexible films
and plastic pouches, etc. |
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 : |
USD 170000 |
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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 an
established company having fine track. Its trade relations are fair. Financial
position is satisfactory. Payments are correct and as per commitments. The company can
be considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
25, Community Centre
East, Of Kailash, Delhi – 110065, India |
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E-Mail : |
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Website : |
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Area : |
Owned |
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Head Office : |
806 / 807 Ashoka
Estate, 24 Barakhamba Road, New Delhi – 110001, Delhi, India |
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Tel. No.: |
91-11-23357846 /
26207727 / 28 |
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Fax No.: |
91-11-23357851 /
26452736 |
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E-Mail : |
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Corporate Office : |
2 – A, Paharpur Business Centre, 21, Nehru Place Greens, New Delhi –
110019 |
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Tel. No.: |
91-011-6207727 / 28 |
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Fax No.: |
91-011-6452736 |
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E-Mail : |
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Factory 1 : |
Paharpur – 3P, Plot No. 19, Site IV, Industrial Area, Sahibabad,
Ghaziabad – 201010, Uttar Pradesh, India Tel. No.: 91-120-4772001 / 2 / 6 / 4389102 / 4389100 Fax No.: 91-120-4771901 /
4127910 |
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Factory 2 : |
Plot No. 45 / 2, Site IV, Industrial Area, Sahibabad, Ghaziabad –
201010, Uttar Pradesh, India Tel No.: 91-120-4771666 / 1659 Fax No.: 91-120-4778423 E-Mail: pidel1@del2.vsnl.net.in |
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Regional Office : |
Calcutta Office: 8 / 1B, Diamond Harbour Road, Calcutta – 700027 Tel No.: 91-33-4792050 / 2152 / 53 / 54 / 57 Fax No.: 91-33-4796861 E-Mail: pilccu@pilpack.com Mumbai Office : 7th Floor, Manak Mahal, Veer Nariman Road, Churchgate,
Mumbai – 400020 Tel No.: 91-22-2881513 / 1567 Fax : 91-22-2042831 Chennai office: 4th Floor, Park View Complex, 85, G.N. Chetty Road,
T.Nagar, Chennai – 600017 Tel No.: 91-44-8203271 / 0533 / 0535 / 3807 Fax : 91-44-8200534 Bangalore
Office: 41, Cunningham Road Cross, Bangalore – 560052 Tel No.: 91-80-2382524 / 3025 Fax : 91-80-2253999 |
DIRECTORS
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Name : |
Mr. Mahendra
Swarup |
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Designation : |
Director |
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Address : |
2 B, Judges Court Road, Kolkata |
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Date of Birth : |
01.02.1920 |
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Date of Appointment : |
26.10.1994 |
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Name : |
Mrs. Gyan M.
Swarup |
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Designation : |
Director |
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Address : |
2 B, Judges Court
Road, Kolkata |
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Date of Birth : |
13.06.1924 |
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Date of Appointment : |
28.12.1989 |
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Name : |
Mr. Gaurav Swarup
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Designation : |
Director |
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Address : |
2 B, Judges Court
Road, Kolkata |
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Date of Birth: |
02.11.1956 |
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Date of Appointment : |
26.10.1994 |
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Name : |
Mr. Vikram Swarup
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Designation : |
Director |
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Address : |
2 B, Judges Court
Road, Kolkata |
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Date of Birth : |
16.09.1948 |
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Date of Appointment : |
03.02.1999 |
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Name : |
Mr. Sujit Shome |
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Designation : |
Director |
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Address : |
2 B, Judges Court
Road, Kolkata |
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Date of Birth: |
22.07.1937 |
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Date of Appointment : |
03.02.1999 |
KEY EXECUTIVES
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Name : |
Mr. Dharmesh Zavery |
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Designation : |
General Manager in Export |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mrs. Sushila
Kirula |
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250 |
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Mr. Gopal Raj
Swarup |
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1250 |
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Mr. Balbir Chand
Kapur |
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310 |
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Mr. Mahendra
Swarup |
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1000 |
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Mr. Vikram Swarup
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1500 |
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Mr. Gaurav Swarup
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1000 |
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Mr. Vimal Chandra
Hoon |
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600 |
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Mr. Sumer Vaidhva
Nath |
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120 |
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Panarpur Cooling
Towers Limited |
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1703720 |
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Mr. Ramesh Kumar
Shukla |
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50 |
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Mr. Mahesh Kumar |
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50 |
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Mr. Ashok Bhatia |
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50 |
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Mr. Badri Prasad
Gupta |
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50 |
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Mr. Rajinder
Singh Tanwat |
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50 |
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Total |
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1710000 |
Equity shares Breakup (percentage of total equity)
(As on 29.09.2007)
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Category |
Percentage |
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Bodies corporate |
99.66 |
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Directors or relatives of Director |
0.18 |
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Other top fifty (50) shareholdera |
0.16 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing
of plastic products such as plain flexible films, laminated flexible films
and plastic pouches, etc. |
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Products : |
·
Pouch for
Edible Oil ·
Premium
Atta ·
Coffee
Packaging Enhancing Freshness Appeal ·
Cold
Beverages New Promotion Platform in Labels ·
Print
Reproduction ·
New Bottom
Stand Up Pouch ·
Food
Service Solutions ·
New Format
Pouch for Bulk Commodity ·
Marine Vacuum
Packaging for Exports ·
Liquid Soap
Packaging Other Products ·
Spout Pouches and Asceptic Spout
Filling ·
Retortable and Microwavable
Packaging ·
Active Packaging ·
Biodegradable Packaging ·
Fresh Fruits and Vegetables
Packaging ·
Shaped Pouches ·
Aggressive Products |
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Exports : |
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Products : |
Flexible Packing |
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Countries : |
·
UAE ·
Nigeria ·
Sri Lanka ·
North America ·
South America ·
Western Europe ·
Eastern Europe ·
Eastern Asia ·
Southeast Asia ·
Mid East ·
Africa ·
Oceania |
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Imports : |
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Products : |
Machinery and Spares |
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Countries : |
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USA ·
Germany ·
Taiwan ·
Korea |
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Terms : |
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Selling : |
L/C, Credit and Cash |
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Purchasing : |
L/C, Credit (60 days), Cash and Sight |
GENERAL
INFORMATION
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Customers : |
Locals Customers and End Users ·
HLL-Shampoo Division ·
HLL-Ice Cream Division ·
HLL-Food Innovation Centre ·
HLL-Bangalore ·
HLL-Trichy ·
HLL-Ghaziabad ·
ITC Agrotech Limited ·
Pennzoil India Limited ·
Dabur India Limited. ·
Mother Dairy Limited. ·
Indian Rayon Industries ·
JK White Cement ·
MRF Limited ·
SKF Bearings Limited ·
Fenner India Limited ·
Asian Paints India Limited ·
Heinz India Limited ·
Rich Kwality ·
Bayer India Limited ·
Prasad Polypack Limited ·
Pepsi ·
Tata Tea Limited ·
Eveready Industries Limited ·
Van Melle Confectionery ·
Paramount Food |
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No. of Employees : |
Around 500 |
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Bankers : |
·
ABN
Amro Bank NV, ITC Centre, 1, Russel Street, Calcutta - 700 071, West Bengal,
India ·
Standard
Chartered Bank, Sansad Marg, New Delhi ·
BNP
Parybas, Barakhamba Road, New Delhi – 11001 ·
ABN
Amro Bank, Barakhamba Road, New Delhi – 110001 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gupta Garg and
Agrawal Chartered
Accountants |
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Address : |
G – 55, Royal
Palace, 2nd Floor, Laxmi Nagar, Vikas Marg, Delhi – 110092, India |
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Associates/Subsidiaries : |
·
Paharpur
Cooling Towers Limited Paharpur Business Centre, 21, Nehru Place, New Delhi - 110
019, India ·
Paharpur
Cooling Tower Limited Kolkata and Sahibabad |
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Holding Company : |
Paharpur
Colling Towers Limited |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1710000 |
Equity Shares |
Rs.10/- each |
Rs.17.100
millions |
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 |
17.100 |
17.100 |
17.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
17.258 |
13.680 |
20.157 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
34.358 |
30.780 |
37.257 |
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LOAN FUNDS |
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1] Secured Loans |
29.165 |
16.386 |
55.120 |
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2] Unsecured Loans |
17.981 |
14.886 |
0.000 |
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TOTAL BORROWING |
47.146 |
31.272 |
55.120 |
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DEFERRED TAX LIABILITIES |
3.783 |
4.392 |
11.374 |
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TOTAL |
85.287 |
66.444 |
103.751 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.275 |
19.816 |
45.299 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.067 |
0.067 |
0.067 |
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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 |
32.334 |
22.418 |
33.789 |
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Sundry Debtors |
33.686 |
17.382 |
21.413 |
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Cash & Bank Balances |
4.305 |
5.110 |
0.585 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
11.489 |
13.034 |
18.977 |
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Total
Current Assets |
81.814
|
57.944
|
74.764 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
13.842
|
10.891
|
12.928 |
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Provisions |
2.027
|
0.492
|
3.451 |
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Total
Current Liabilities |
15.869
|
11.383
|
16.379 |
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Net Current Assets |
65.945
|
46.561
|
58.385 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
85.287 |
66.444 |
103.751 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2005 |
||
|
Sales Turnover |
141.492 |
145.214 |
195.745 |
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Other Income |
8.151 |
0.435 |
0.054 |
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Total Income |
149.643 |
145.649 |
195.799 |
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Profit/(Loss) Before Tax |
4.491 |
(13.252) |
11.980 |
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Provision for Taxation |
0.913 |
(6.775) |
3.394 |
|
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Profit/(Loss) After Tax |
3.578 |
(6.477) |
8.586 |
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Imports Value |
NA |
NA |
7.841 |
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Expenditures : |
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Raw Material Consumed |
111.048 |
99.564 |
98.452 |
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Purchases made for re-sale |
0.489 |
0.000 |
0.000 |
|
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Consumption of stores and spares parts |
0.367 |
1.520 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
(3.673) |
(2.939) |
0.238 |
|
|
Salaries, Wages, Bonus, etc. |
3.673 |
2.939 |
12.686 |
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Payment to Auditors |
0.090 |
0.090 |
0.077 |
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Interest |
1.426 |
3.069 |
3.172 |
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Insurance Expenses |
0.236 |
0.633 |
0.914 |
|
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Power & Fuel |
0.088 |
8.289 |
15.214 |
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Depreciation & Amortization |
2.188 |
4.498 |
5.743 |
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Other Expenditure |
29.220 |
41.238 |
47.323 |
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Total Expenditure |
145.152 |
158.901 |
183.819 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.39 |
(4.45)
|
4.38 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.17 |
(9.13)
|
6.12 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.44 |
(17.04)
|
10.20 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
(0.43)
|
0.32 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.83 |
1.39
|
1.84 |
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Current Ratio (Current Asset/Current Liability) |
|
5.16 |
5.09
|
4.40 |
LOCAL AGENCY
FURTHER INFORMATION
The company is in trade terms
with the following:
·
Flex
Foods Limited, Calcutta
·
Flex
Foods Limited, New Delhi
·
Flex
Industries Limited
·
Paper
Products Limited, Mumbai
Form No. 8
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Name of the company |
PAHARPUR
INDUSTRIES LIMITED |
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Presented
By |
Company and ABN AMRO Bank |
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1) Date and description of instrument creating the change |
Facility cum hypothecation agreement dated 04.04.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.50.000 Millions (Cash Credit limit / WCTL for working capital and import letter of credit) |
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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 |
Borrower hereby hypothecate to the charges in favour of bank by way of first charge on all the book debts and all other movable assets of the company described in general terms i.e. first charge over the company’s stocks and book dens, stocks consist of raw material, spares, semi finished and finished goods in progress and all such tangible movable property lying in company’s factory Godown or in transit |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest for cash credit 16 % p.a. + Interest tax for WCTL 16 % p.a. + Interest tax for issue of LC as per FEDAI / RBI |
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5) Name and Address and description of the person entitled to the charge. |
ABN Amro Bank N. V. ITC Centre, 4 Russel Street, Kolkata – 700071 |
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6) Date and brief description of instrument modifying the charge |
Supplemental facility cum hypothecation agreement dated 15.01.2002 |
Fixed
Assets
·
Land
·
Building
·
Plant and
Machinery
·
Furniture and
Fixture
·
Vehicles
Website Details Attached
Company Details:
The
Paharpur group consists of the holding company Paharpur Cooling Towers Limited
along with its various divisions and subsidiaries. The group also has major
stakes in two Indo German companies KSB Pumps and Krupp Industries Limited
(formerly known as Buckau Wolf India Limited) and a major national polyester
yarn manufacturing Co. M/s. Swadeshi Polytex LimitedThe holding company has
been a market leader in process cooling and heat transfer equipments. It is
closely held, with a turnover of over Rs. 4000 million. The group has
manufacturing facilities located in and around Calcutta and Delhi, and has
Sales offices throughout the country.
About PIL
Subject is a wholly owned subsidiary of Paharpur Cooling
Towers LimitedThey have two factories located at Sahibabad on the Delhi-U.P
Border out of which the 3P plant is fully air-conditioned with state- of- the-
art machineries and equipments. More than 90% of the machines and equipments
are imported and in line with the latest technology. Subject is the only plant
in the country to have a 12 colour Rotomec printing machine, added to it is
another latest generation printing machine Rotopack-3000 3R. 
Subject has been
accredited internationally with Gold Star award for innovation in pouch making.
They have their own power generation and a labour free plant. Because of own
power generation the production process would be free from any kind of power
disruptions that can happen otherwise if depended on the electricity board. Labour
free plant means all workmen are graded staff, which would keep the plant
running efficiently as the workmen cannot indulge in forming any type of union,
or hamper the work processes.
With all these Subject has an installed capacity to produce 8000MT of flexible laminate per annum. This speaks for their delivering the right quality material at the right time to their customers. PIL is a professionally managed company having their corporate office at Nehru Place, New Delhi and branch offices at Mumbai, Chennai, Bangalore and Calcutta.
Subject manufactures a wide range of packaging products,
from multi-layer co-extruded films to laminates and pouches, to meet the varied
requirements of its customers. Subject excels in aseptic packaging for food
industry as per international standards. The majority of the business
contributions are from the leading multinational, transnational and major FMCG
companies. Subject is well qualified to assist customer from the selection of
the appropriate packaging to the development of most cost effective production
line.
Subject
also has technical agreement with Safta S.P.A, Italy for complete know-how on
new product development, plant-to-plant cooperation and employee exchange
programmes. It is also the exclusive associate business partner as well as a
sole licensee for Safta products in the Asia-Pacific region. It is for the
first time such an agreement has happened between an Indian Flexible packaging
company and a multinational.
Subject believes that continuous innovation, highest production standards as
well as good customer service at the highest degree of quality guarantees years
of successful operation Expect the most unexpected in the market. The growth
plan of Subject is expected from the shift in focus i.e. from domestic to
international market. To achieve such high growth plans Subject aligns its
operations at par with international quality standards and norms apart from
prompt deliveries.
To build a reputation in the industry by practicing a strategy that incorporates ethics, transparency, social responsibility, quality and commitment to their stakeholders in all their activities.
Maintaining leadership through technology in the Flexible packaging industry.
Their Corporate Values can be best described by the
diagram below.
News
Paharpur-3P plans Rs.1 bn investment in innovative packaging
New Delhi, Dec 20 - Keeping abreast of global retail trends and customer demand, Paharpur-3P, the packaging solutions division of Paharpur Cooling Towers, is planning Rs.1 billion worth of investments over the next five years in new machineries and technologies.
The company is also on the look out to acquire package-manufacturing units in
different parts of the country and has almost zeroed in on one such company.
Spout pouches, laminated pouches with bottom fold, microwave-friendly package,
bio-degradable package - the range is growing with companies like Paharpur-3P
evolving customized solutions to reposition products in the market with an eye
on customer convenience and extending shelf life of fresh produce, seeds,
cereals, staples and processed food.
'We are in the process of investing in new technologies and machinery in an effort to bring in more relevant technologies to the retail trade as also export market,' Sujit Shome, director of Paharpur-3P, told IANS.
The company will be shopping for new machineries and technology partners
starting with China, South Korea, Taiwan, Europe and the US to raise its market
share within India from 25 percent in the specialized packaging solutions.
Overall, Paharpur-3P estimates its market share in the Rs.15 billion organized
market for packaging solutions dominated by half a dozen major players to be 7
percent. Its turnover was Rs.1.06 last year.
'This year we are expecting the turnover to reach Rs.1.25 billion and in five
years around Rs.5 billion turnover,' said Shome.
The company is 'working on a five year rolling plan to invest around Rs.800
million to Rs.1 billion to acquire new technologies and machineries starting
with a coater laminator that could cost Rs.20-200 million', said Shome.
A high-end slitting machine for packaging products like condoms, high barrier
multiple layer aluminium foil and special printing machines for food packages
are some of the new acquisitions planned from overseas besides a few annually
from within India.
Located in Sahibabad, an industrial zone on outskirts of Delhi, the company has
been acquiring technologies from abroad as also equipment to meet its goal of
moving up the profitable value added chain.
The company has another unit in Chennai that caters to the needs of customers
in the southern region like Hindustan Lever Limited (HLL).
On the technology front, the company has tied up with Perfotech of the
Netherlands to provide competitive packaging solutions for food products and
body care products.
It also has a tie up with US-based Dow Chemicals, a leading chemicals and
plastics manufacturers, and Toyo - a leader in food grade packaging and inks.
With overseas technology solutions providers in tow, Paharpur 3P has an
impressive line up of customers.
'Our expansion is going to be geared to meet the future needs of the Indian and
overseas market demands,' said Debabrata Deb, a senior vice president in charge
of technology, innovation and international marketing.
With several awards in its portfolio for innovative packaging solutions, the
company is working on providing better deals to housewives in ready-to-eat food
packaging.
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 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.46.96 |
|
UK Pound |
1 |
Rs.83.91 |
|
Euro |
1 |
Rs.66.36 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
61 |
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 |
|