MIRA
INFORM REPORT
|
Report Date : |
06.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DAXAL COSMETICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
205, Milestone Near Drive in Cinema, Opposite Door Darshan Tower,
Drive In Road, Thaltej, Ahmedabad – 380 052, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
29.07.2002 |
|
|
|
|
Com. Reg. No.: |
041026 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24246GJPTC041026 |
|
|
|
|
IEC No.: |
0803000669 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AHMD01449A AHMD01511G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCD5269L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers of Cosmetics and Toiletries products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
|
|
|
|
|
|
Maximum Credit Limit : |
USD 19000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable
businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office/ Factory 1 : |
347, Mahagujarat Industrial Estate, Sarkhej Bawla Road, N H 8A,
Village Moraiya, Taluka Sanand, Ahmedabad-382213, Gujarat, India |
|
Tel. No.: |
91-2717-329809 |
|
Mobile No.: |
91-9825097501 |
|
Fax No.: |
91-2717-250305 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
35000 sq.ft ( Owned) |
DIRECTORS
|
Name : |
Mr. Nitin B. Desai |
|
Designation : |
Director |
|
Address : |
F-3, Meghalaya Avenue, Near Sardar Patel Colony, P. O. Navjivan,
Ahmedabad – 380 014, Gujarat, India |
|
Date of Birth/Age : |
23.05.1956 |
|
Date of Appointment : |
29.07.2002 |
|
|
|
|
Name : |
Ms. Devanshi P. Desai |
|
Designation : |
Director |
|
Address : |
101, Soham Terrace, Behind Sunrise park, Ahmedabad- 380 054, Gujarat,
India |
|
Date of Birth/Age : |
18.02.1972 |
|
Date of Appointment : |
29.07.2002 |
|
|
|
|
Name : |
Mr. Prashant H. Desai |
|
Designation : |
Managing Director |
|
Address : |
101, Soham Terrace, Behind Sunrise park, Ahmedabad- 380 054, Gujarat,
India |
|
Date of Birth/Age : |
10.01.1969 |
|
Date of Appointment : |
01.07.2003 |
|
|
|
|
Name : |
Mrs. Ramilaben B. Desai |
|
Designation : |
Director |
|
Address : |
23, Vrundavan Bunglows, Near C. K. Kanyua Vidhyalaya, Gulab Tower
Road, Thaltej, Ahmedabad – 380 054, Gujarat, India |
|
Date of Birth/Age : |
02.06.1963 |
|
Date of Appointment : |
22.01.2004 |
|
|
|
|
Name : |
Mr. Ankit N. Patel |
|
Designation : |
Director |
|
Address : |
14, Uma Society, near Umiyamata Temple, Unjha, Mehsana – 384 170,
Gujarat, India |
|
Date of Birth/Age : |
02.06.1978 |
|
Date of Appointment : |
22.01.2004 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish C. Doshi |
|
Designation : |
Company Secretary |
|
Address : |
10, Tripura Society, Opposite Bhagvan Nagar’s Tekro, Paldi, Ahmedabad
– 380 007, Gujarat, India |
|
Tel. No.: |
91-79-26588848, 25689143 |
|
Mobile No.: |
91-9825064740 |
|
E-Mail: |
|
|
|
|
|
Name : |
Kanha Associates |
|
Designation : |
Company Secretary |
|
Address : |
22, New York Tower-B, S G Highway, Near Thltej Cross Roads,
Ahmedabad-380054, Gujarat, India |
|
Tel. No.: |
91-79-26856156/ 26856157 |
|
Fax No.: |
91-79-26856158 |
|
E-Mail: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
|
No. of Shares |
|
Devanshi P. Desai |
|
31490 |
|
Prashant H Desai |
|
43300 |
|
Prashant H Desai HUF |
|
47100 |
|
Savitaben H Desai HUF |
|
8110 |
|
Hashmikhbhai M Desai |
|
5000 |
|
Shivrambhai M Patel HUF |
|
18000 |
|
Natvarlal S Patel |
|
10 |
|
Ankit N Patel |
|
1900 |
|
Jeegna A Patel |
|
5380 |
|
Kamleshkumar S Patel |
|
3600 |
|
Bharatkumar Chunilal Patel and Anandiben |
|
24300 |
|
Bharatkumar Chunilal Patel |
|
22890 |
|
Ramilaben Bharatkumar Patel |
|
30030 |
|
Vikrambhai Gopaldas Patel |
|
16200 |
|
Chaitanya Vikrambhai Patel |
|
3600 |
|
Chaitanya Vikrambahi Patel and Hetal C Patel |
|
9090 |
|
Total |
|
270000 |
Equity Share Breakup
(Percentage of Total Equity)
As on 30.09.2007
|
Category |
|
Percentage
of Holding |
|
Directors or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Cosmetics and Toiletries products. |
|
|
|
|
Products : |
Toothpaste ·
White Toothpaste ·
Gel Toothpaste ·
Herbal Toothpaste ·
Natural Toothpaste ·
Kid's Toothpaste ·
Toothpaste With Soda Bi Carb ·
Tartar Control Toothpaste Skin Care
Products ·
Moisturizing Cold Cream ·
Moisturizing Body Lotion ·
Fairness Cream & Gel ·
Herbal Fairness Cream ·
SPF Cream ·
Orange Peel Off Mask ·
Complexion Mask ·
Cleansing Milk ·
Apricot Scrub Hair Care
Products ·
Shampoo With Conditioner ·
Conditioner ·
Hair Styling Gel ·
Hair Cream ·
Hair Oil Men’s Shaving
Products ·
Shaving Cream ·
Shaving Gel Baby Care
Products ·
Baby Oil ·
Baby Cream ·
Baby Lotion ·
Baby Shampoo ·
Bubble Bath |
|
|
|
|
Exports : |
|
|
Countries : |
v Gmbia v Vietanam v Hongkong v Singapore v Haiti v Venezuela v South Africa v Dubai v UK v USA |
|
|
|
|
Import: |
|
|
|
|
|
Countries: |
Malaysia |
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit ( 30-60 Days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit ( 30-60 Days) |
GENERAL
INFORMATION
|
Suppliers: |
Acidchem
International DSN BHD |
|
|
|
|
Customers : |
·
Wholesalers ·
Retailers ·
OEM’s ·
K Chellaram
and Sons ·
Digi Vietnam
Company Limited ·
OBC Motors ·
Rada Exports ·
Vida Import
Exports ·
Rada De
Venezuela ·
Platton
Trading and Investment ·
Paras Global
FZE ·
Vaishnoav
Overseas ·
Gulf Centre for
Soap and Chemicals ·
Wesley
Operational ·
Doura
Manufacturers Agents ·
Samy
Electrocnics Private Limited, MORBI ·
Deluxe
Chemical, Mehsana ·
Ethicare
Remedies, Rajkot ·
Ultracare
Remedies, Visnagar ·
Paras
Pharmaceutical, Kalol ·
Vidyut
Metalic, Mumbai |
|
|
|
|
No. of Employees : |
50 (Office 15, Factory 35) |
|
|
|
|
Bankers : |
Punjab National
Bank Sola Road Branch,
Ahmedabad – 380 061, Gujarat, India E-mail: manager@pnb.com |
|
|
|
|
Facilities : |
Rs. 6.000 Millions |
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Girish B. Patel and Company Chartered Accountants |
|
Address : |
301, Diwan Chambers, Old high Court, Off Ashram Road, Ahmedabad – 380
009, Gujarat, India |
|
|
|
|
Name : |
Nautam R Vakil and company Chartered Accountant |
|
Address : |
16, New Ashish Flats, Opposite Shefali Centre, Near Paldi Char Rasta,
Ellisbridge, Ahmedabad-380006, Gujarat, India |
CAPITAL STRUCTURE
As on 31.08.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
270000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.700 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
270000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.700 millions |
INANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.700 |
2.700 |
2.700 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.285 |
0.047 |
1.198 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.985 |
2.747 |
3.898 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.800 |
3.879 |
1.557 |
|
|
2] Unsecured Loans |
8.560 |
8.627 |
8.899 |
|
|
TOTAL BORROWING |
16.360 |
12.506 |
10.456 |
|
|
DEFERRED TAX LIABILITIES |
1.155 |
0.281 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21.500 |
15.534 |
14.353 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.695 |
10.141 |
9.917 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.636
|
6.976 |
4.410 |
|
|
Sundry Debtors |
5.927
|
2.975 |
4.586 |
|
|
Cash & Bank Balances |
0.649
|
0.006 |
0.007 |
|
|
Other Current Assets |
0.000
|
0.000 |
2.125 |
|
|
Loans & Advances |
1.928
|
1.502 |
0.879 |
|
Total
Current Assets |
17.140
|
11.459 |
12.007 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
9.335
|
6.073 |
7.539 |
|
|
Provisions |
0.000
|
0.000 |
0.173 |
|
Total
Current Liabilities |
9.335
|
6.073 |
7.712 |
|
|
Net Current Assets |
7.805
|
5.386 |
4.294 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.007 |
0.142 |
|
|
|
|
|
|
|
|
TOTAL |
21.500 |
15.534 |
14.353 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
47.796 |
26.726 |
28.491 |
|
|
Other Income |
1.676 |
1.234 |
0.000 |
|
|
Total Income |
49.472 |
27.960 |
28.491 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
4.191 |
2.823 |
2.604 |
|
|
Provision for Taxation |
2.952 |
3.973 |
0.099 |
|
|
Profit/(Loss) After Tax |
1.239 |
[1.151] |
2.505 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
1.741 |
0.030 |
NA |
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sols |
8.636 |
6.976 |
0.000 |
|
|
Administrative expenses |
0.266 |
0.019 |
0.000 |
|
|
Manufacturing Expenses |
1.953 |
1.949 |
0.000 |
|
|
Depreciation |
0.674 |
0.520 |
0.411 |
|
|
Interest |
1.984 |
1.495 |
0.000 |
|
|
Financial charges |
0.000 |
0.000 |
1.448 |
|
|
Other Expenditure |
31.968 |
14.178 |
24.028 |
|
Total Expenditure |
45.281 |
25.137 |
25.887 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
2.50
|
[4.12] |
8.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.77
|
10.56 |
9.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.59
|
13.07 |
11.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.05
|
1.03 |
0.67 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.45
|
6.76 |
4.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.84
|
1.89 |
1.56 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered address of the company has been shifted from 205,
Milestone Nr Drive in Cinema, Opposite Door Darshan Tower, Drive in Road,
Thaltej, Ahmedabad – 380 052, Gujarat, India to present address w.e.f
12.12.2007
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified
|
80007071 |
|
Corporate
identity number of the company |
U24246GJPTC041026 |
|
Name of the
company |
DAXAL COSMETICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
205, Milestone,
Near Drive in Cinema, Opposite Door Darshan Tower, Drive in Road, Thaltej,
Ahmedabad – 380 52, Gujarat, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Punjab National
Bank Sola Road Branch,
Ahmedabad – 380 061, Gujarat, India E-mail: manager@pnb.com |
|
Nature of description
of the instrument creating or modifying the charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
17.10.2007 |
|
Amount secured by
the charge |
Rs. 6.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For Cash Credit =
BPLR + 1% , Currently As 14% For Packing
Credit = BPLR -3.25% Terms of
Repayment For Cash Credit =
12 Months For Packing
Credit = 12 Months Margin 25% For Stocks
and 50% for Book Debts Extent and
Operation of the charge The Cahrge
operates in favour of the Bank to secure financial assistance extenxed by
Punjab National Bank for the tune of Rs. 6.000 Millions and Interest Tax, Commission,
Charges and Costs (Between the Company and the Client) and Expenses payable
or to be incurred by the bank in relations thereto |
|
Short particulars
of the property charged |
First charge on
entire current assets, present and future, including entire stocks, book
debts, loan and advanced etc and more specially described in hypothecation
agreement attached hereto. |
|
Particulars of
the present modification |
By the
modification Enhancement of Cash Credit ( Hypothecation) limit to Rs. 6.000
Millions from Rs. 4.000 Millions |
|
Corporate
identity number (CIN) Foreign company registration number |
U24246GJPTC041026 |
|
Name of the
Company |
DAXAL COSMETICS PRIVATE LIMITED |
|
Address |
205, Milestone, Near
Drive in Cinema, Opposite Door Darshan Tower, Drive in Road, Thaltej,
Ahmedabad – 380 52, Gujarat, India |
|
This form is for |
Modification of
Charge |
|
Type of Charge |
Equitable Mortgage or mortgage of property by depositing the title
deeds |
|
Particulars of
the charge holder |
Punjab National
Bank Sola Road Branch,
Ahmedabad – 380 061, Gujarat, India E-mail: manager@pnb.com |
|
Amount secured by
the charge |
Rs. 4.000
millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
ROI BPLA + 1 MARGIN 25% ON
Stocks |
|
Description of
the property charged indicating whether it is a charge on |
Immovable
Properties |
|
Particular of the
Property charged |
All that piece or
parcel of Freehold Land situated at Survey No. 427, Paiki, admeasuring about
3227.75 Sq. mtrs (3860 Sq. yards) of Village Moraiya, Taluka Sanand.
District. Ahmedabad (Sub Plot No. 44, Village A/C Book No. 1068, Village
Moraiya) or thereabouts together with Buildings thereon. |
|
Brief description
of the instruments modifying the charge under Section 135 |
Memorandum of
Deposit of Title Deeds (Extension of Equitable Mortgage dated 17.07.2006) |
|
Date of
Instrument modifying the charge |
17.07.2006 |
|
Particulars of
the present modification |
Extension of
Equitable mortgage for Credit Facilities now Revised and Enhanced from Rs.
1.900 millions to Rs. 4.000 millions |
AS PER WEBSITE
Profile:
Subject is started with a vision of Quality Product serving
to the market with reasonable price. Young, Enthusiastic and energetic members
are grouped in a team having different experience in various industries and
mainly cosmetic cream manufacturing industry experience. Current management of
the company consists of the techno-commercial and most experienced team of
engineer, pharmacist, chemists, foreign trade management executives and skilled
personnel.
The Well Planned Production Unit is situated just 20 km away
from famous historical beautiful city Ahmedabad, Gujarat, India. They have well
equipped plant and machinery with trained manpower With R and D Facility, With
36000 Sq. Ft Land Area and 10000 Sq. Ft. factory building with R.C.C.
They provide "Right product at
Reasonable rate", which can help the buyer's (wholesale
importer of cosmetic and toiletries, local exporter of cosmetic and toiletries
and domestic market leaders) to be competitive in the market. All the vendors
and suppliers of the company are most experienced and quality conscious. That
is why they provide reliable quality goods with reasonable price in domestic as
well as in the exports market.
They are introducing as a manufacturer and supplier (export
and domestic both) of Cosmetics and
Toiletries items like Toothpaste,
Shaving Cream, Shampoo, and Cosmetics (Fairness Cream, Moisturizing Cold Cream,
Body Lotion, Hair Styling Gel / Cream, Face Wash, Bubble Bath, Hair Oil, Facial
Mask and Orange Peel Off Mask) with international Standards
from India.
The products are widely accepted in local as well as in the exports markets.
They are offering all above mention items in the private label and customized
as per the buyer's requirements and specifications.
Manufacturing Capabilities
They have a group of techno-commercial people having vast
experience in the field of manufacturing and international commerce (exports
and imports) with a team of engineers, pharmacists, science graduates, commerce
graduates, skilled and experienced employees and Local Employees.
Manufacturing plant consists of hygienic plant, effective
necessary infrastructure and eco friendly work environment with all the
necessary machinery, required technicians and knowledge to produce and procure
internationally acceptable quality and packaging requirements. It also consists
of all types of amenities available within factory premises, such as research
and development set up, testing laboratory, electricity, computerized
administrative offices, and transportation and latest communication facilities
etc.
R and D Capabilities
Group has their own model set-up of research and development
to formulate, test and commercialize wide range of formulations of toothpaste
(all types), shaving creams, and face creams. The team of experienced
technicians, employees and associates are capable of meeting new frontiers all
the time.
Group sincerely believes that, to sustain consistent growth
rate, it is very much necessary to improve and innovate new products
constantly.
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. 46.88 |
|
UK Pound |
1 |
Rs. 82.97 |
|
Euro |
1 |
Rs. 64.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
|
45 |
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 |
|