MIRA
INFORM REPORT
|
Report Date : |
16.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AT AND S INDIA
PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
INDAL ELECTRONICS
LIMITED |
|
|
|
|
Registered Office
: |
12/A, Industrial Area, Nanjangud, Mysore
District – 571 301, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2008 |
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|
Date of
Incorporation : |
30.05.1988 |
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|
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Com. Reg. No.: |
08-25863 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U85110KA1988PTC025863 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BLRA05803A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECA29301 |
|
|
|
|
Legal Form : |
Private Limited
Liability Company |
|
|
|
|
Line of
Business : |
Manufacturers of
Printed Circuit Boards |
RATING &
COMMENTS
|
MIRA’s Rating
: |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit
Limit : |
USD 4500000 |
|
|
|
|
Status : |
Good |
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|
Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
relatively small company having satisfactory track. Directors are reported as
experienced and respectable businessmen. Trade relations are reported as fair.
Business is active. Payments are however reported as usually correct and as
per commitments. The company can
be considered for small business dealings at usual trade terms and
conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Nagandra Prasad |
|
Designation : |
Purchase Department |
|
Date : |
06.10.2008 |
LOCATIONS
|
Registered
Office / Factory: |
12/A, Industrial Area, Nanjangud, Mysore
District – 571 301, Karnataka, India |
|
Tel. No.: |
91-821-8221304000 |
|
Fax No.: |
91-821-8221-228570
/ 228571 / 228572 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
80000 sq.
ft.(Owned) |
|
|
|
|
Branch 1 : |
No. 201, 2nd
Cross, 4th Main, Koramangala, 1st Block, Bangalore 560
034, Karnataka, India |
|
Tel. No.: |
91-80-51217891 |
|
Fax No.: |
91-80-51217895 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Branch 2 : |
Suite No. 1015, Navrang
House, No. 21, Kasturba Gandhi Marg, New Delhi 1, India |
|
Location : |
Rented |
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|
|
|
Other
Branches: |
Located at:- Ø
Austria Ø
Germany Ø
India Ø
China Ø
Korea |
DIRECTORS
|
Name : |
Mr. Suryaprasad
Barandadi Hegde |
|
Designation : |
Managing Director
and Chief Operating Officer |
|
|
|
|
Name : |
Mr. Pradeep Mehta |
|
Designation : |
Managing
Director, Chief Financial Officer & Company Secretary |
|
Address: |
# 314, Premier Residency,
3 D, Dewan’s Road, Mysore – 570021, Karnataka, India |
|
Date of
Birth/Age : |
25.09.1961 |
|
Qualification
: |
CA, ACS, B. Law |
|
Date of
Appointment : |
21.02.2002 |
|
Previous
employment : |
Enron India
Private Limited |
|
|
|
|
Name : |
Mr. Sommerer
Heralad |
|
Designation : |
Director |
|
Address : |
Dirbockweg 3 A –
8700, Leoben, Austria |
|
Date of
Birth/Age : |
15.03.1967 |
|
Date of
Appointment : |
21.01.1999 |
|
|
|
|
Name : |
Mr. Hamsen
Eilskoy Steen |
|
Designation : |
Director |
|
Address: |
Eduard – Preiffer
Str – 61, Stuitgart – 70192 |
|
Date of
Birth/Age : |
28.10.1958 |
|
Date of
Appointment : |
11.03.2004 |
|
|
|
|
Name : |
Mr. Moitzi Heinz |
|
Designation : |
Director |
|
Address: |
8740, Zeltweg,
Australia |
|
Date of
Birth/Age : |
05.07.1956 |
|
Date of
Appointment : |
11.03.2004 |
|
|
|
|
Name : |
Mr. Dorflinger
Willibald |
|
Designation : |
Chairman |
|
Address : |
A – 8753,
Fohnsdorf, Steirergasse, Austria |
|
Date of
Birth/Age : |
20.05.1950 |
|
Date of
Appointment : |
21.01.1999 |
|
Date of
Ceasing : |
08.04.2005 |
|
|
|
|
Name : |
Mr. Muller Peter |
|
Designation : |
Director |
|
Address : |
MAG Peter Muller,
Franz – Schubert – Strase, 33-35-2384, Breitenfurt, Wien, Austria |
|
Date of
Birth/Age : |
06.09.1965 |
|
Date of
Appointment : |
29.05.2001 |
|
Date of
Ceasing : |
09.09.2004 |
|
|
|
|
Name : |
Mr. Jung Hans
Peter |
|
Designation : |
Managing Director
|
|
Address : |
2 E Temple Trees,
Siddhartha Nagar, Mysore -570011, Karnataka, India |
|
Date of
Birth/Age : |
11.07.1955 |
|
Date of
Appointment : |
21.02.2002 |
|
Date of
Ceasing : |
22.06.2005 |
|
|
|
|
Name : |
Mr. Ottitsch
Mathias |
|
Designation : |
Director |
|
Address : |
Bennogasse 29/18,
A – 1080, Vienna, Austria |
|
Date of
Birth/Age : |
11.02.1967 |
|
Date of
Appointment : |
11.03.2004 |
|
Date of
Ceasing : |
08.04.2005 |
|
|
|
|
Name : |
Mr. Ma Patrick |
|
Designation : |
Director |
|
Address : |
5 A,
Mountainville Court 7 Lok, Fung Path, Hong Kong |
|
Date of
Birth/Age : |
08.01.1960 |
|
Date of
Appointment : |
22.06.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Pradeep Mehta |
|
Designation : |
Secretary |
|
Address : |
# 314, Premier Residency,l 3D, Dewan’s Road, Mysore-570021, Karnataka,
India |
|
Date of Birth/Age : |
25.09.1961 |
|
Date of Appointment : |
21.02.2002 |
SHAREHOLDING
PATTERN
|
Names
of Shareholders |
No. of Shares |
|
List of Equity Shareholders |
|
|
Austria
Technologie and System Technik AG |
13362499 |
|
Mr. Pradeep Mehta
|
1 |
|
Total |
13362499 |
|
List of Preferences Shareholders |
|
|
Austria
Technologie & System Technik |
2500000 |
Equity Share
Breakup (Percentage of Total Equity)
As on 30.09.2008
|
Category |
Percentage of Holding |
|
Foreign holdings
[Foreign institutional investors, Foreign Companies, Foreign Financial Institutions,
Non-resident Indian or Overseas corporate bodies or others] |
99.99 |
|
Directors
or relatives of directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturers of
Printed Circuit Boards |
|
|
|
|
Product |
Prinyed Circuit
Boards – 85340001 Its’ products
range includes: - v Impedance Control PCB’s v Blind via sequential build up & 12
layer sample development v High Tg material (170 Tg) v BT Epoxy (Trials ongoing) v Carbon Printing – Sample developed |
|
|
|
|
Exports: |
|
|
Countries : |
·
Austria ·
Germany ·
Australia ·
Netherlands ·
Malaysia ·
USA ·
Europe |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Singapore ·
Taiwan ·
Malaysia ·
Germany ·
USA ·
UK ·
Japan ·
China |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (60 – 120
Days), L/C |
|
|
|
|
Purchasing : |
L/C or Credit (90
– 120 Days) |
PRODUCTION
STATUS
|
Particulars |
Unit |
|
Installed Capacity |
Actual Production |
|
Printed Circuit
Boards |
Sq.mt. |
|
227143 |
205504 |
GENERAL
INFORMATION
|
Suppliers : |
Ø Dupont (Singapore) PTE Limited, Singapore. Ø Eternal, Taiwan Ø Hitachi, Singapore Ø Autotech, USA Ø Electra, UK Ø Taiyo, Japan Ø Mega Tools, USA Ø Kremmer, Germany Ø Mitsui, Malaysia Ø Gould, Germany Ø Siemens Information Systems Limited,
Bangalore Ø Mitsui, Malaysia Ø Nelco, Singapore Ø Litton, Singapore Ø BT Solders Private Limited, India |
|
|
|
|
Customers : |
Ø RAF, Germany Ø ERG Communications, Germany Ø Astek, USA Ø Alcatel, Malaysia and Australia Ø E – Mail DataCraft, Australia Ø Analog Devices, USA Ø Fibcom, USA Ø Ericsson Radio Access, Sweden Ø Nokia Networks, Sweden/India Ø Motorola, USA/Singapore/India Ø Siemens A&D Division, Berlin/Hamburg,
Germany Ø Valeo ITT, USA Ø Delphi (Megomos), USA/Europe Ø
Department
of Electronics, Government of India, New Delhi |
|
|
|
|
No. of
Employees : |
620 |
|
|
|
|
Bankers : |
Ø
Punjab
National Bank, Devraj URS Road, Mysore – 570001, Karnataka, India Ø
Deutsche
Bank AG, Raheja Towers, M. G. Road, Bangalore 560001, Karnataka |
|
|
|
|
Banking Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name: |
Price Waterhouse
and Company Chartered
Accountants |
|
Address: |
10th
Floor, C Wing, Mittal Tower, 47 / 6, M G Road, Bangalore 560 001, Karnataka,
India |
|
|
|
|
Associates : |
Ø Indal Exports Limited Ø
AT and S
Group, Austria |
|
|
|
|
Subsidiaries : |
Ø
AT and S Asia Pacific Limited, Hong Kong Ø
AT and S
Asia Pacific Limited, Hong Kong |
|
|
|
|
Holding
Company |
Ø Austria Technologie and System Technik AG,
Austria Fabriksgasse 13 487,Leoben – Hinterberg, Austria Ø AT and S AG, Austria Ø AT and S Austria Technologie and Systemtechnik AG, Austria |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15,000,000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
2,500,000 |
1% Cumulative
Redeemable Preference Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
|
TOTAL |
|
Rs.400.000
millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13,362,500 |
Equity Shares |
Rs.10/- each |
Rs.133.625 Millions |
|
2,500,000 |
1% Cumulative
Redeemable Preference Shares |
Rs.100/- each |
Rs.250.000 Millions |
|
|
TOTAL |
|
Rs.383.625
millions |
FINANCIAL 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 |
383.625 |
383.625 |
383.625 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves &
Surplus |
516.653 |
424.685 |
424.614 |
|
|
4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
900.278 |
808.310 |
808.239 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
45.763 |
145.712 |
259.635 |
|
|
2] Unsecured
Loans |
239.572 |
380.638 |
303.698 |
|
TOTAL
BORROWING
|
285.335 |
526.350 |
563.333 |
|
|
DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1185.613 |
1334.660 |
1371.572 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block]
|
682.247 |
832.858 |
994.504 |
|
Capital work-in-progress
|
5.272 |
1.686 |
24.568 |
|
|
|
|
|
|
|
INVESTMENT
|
1.362 |
1.362 |
1.362 |
|
DEFERREX TAX ASSETS
|
27.776 |
8.438 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
|
Inventories
|
341.593 |
415.861 |
354.965 |
|
|
Sundry Debtors
|
189.763 |
169.191 |
160.069 |
|
|
Cash & Bank Balances
|
103.573 |
63.722 |
10.912 |
|
|
Other Current Assets
|
1.479 |
1.830 |
4.447 |
|
|
Loans & Advances
|
364.009 |
260.734 |
203.313 |
Total Current Assets
|
1000.417
|
911.338
|
733.706
|
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
462.122 |
365.128 |
357.895 |
|
|
Provisions
|
69.339 |
55.894 |
24.673 |
Total Current Liabilities
|
531.461
|
421.022
|
382.568
|
|
Net
Current Assets
|
468.956 |
490.316 |
351.138 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
1185.613 |
1334.660 |
1371.572 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
|
|
|
|
|
Sales
|
1935.630 |
1892.330 |
1599.600 |
|
Other Income
|
234.290 |
110.832 |
99.864 |
|
Total Income
|
2169.920 |
2003.162 |
1699.464 |
|
|
|
|
|
|
|
Profit/(Loss) Before Tax
|
188.345 |
23.361 |
[173.546] |
|
Provision for Taxation
|
93.452 |
2.970 |
[55.679] |
|
Profit/(Loss) After Tax
|
94.893 |
20.391 |
[117.867] |
|
|
|
|
|
|
|
Export Value
|
1528.629 |
1434.933 |
1224.994 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
593.407 |
824.831 |
678.785 |
|
|
Stores & Spares |
31.214 |
70.458 |
54.036 |
|
|
Capital Goods |
77.764 |
6.675 |
102.183 |
|
Total Imports |
702.385 |
901.964 |
835.004 |
|
|
|
|
|
|
|
Expenditures :
|
|
|
|
|
Cost of Materials
|
0.000 |
1077.982 |
980.867 |
|
Operating and Other Expenses
|
0.000 |
643.358 |
633.559 |
|
Financial Charges
|
28.534 |
44.976 |
31.098 |
|
Depreciation
|
188.093 |
201.267 |
205.568 |
|
Exceptional and Non Recurring Items
|
0.000 |
0.000 |
21.918 |
|
Other Expenses
|
1764.948 |
12.218 |
0.000 |
|
Total Expenditure
|
1981.575 |
1979.801 |
1873.010 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
PAT / Total Income
|
(%)
|
04.37 |
01.01 |
[6.94]
|
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
09.73 |
01.23 |
[10.85]
|
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
10.96 |
1.34 |
[10.04]
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
20.92 |
0.03 |
[0.21] |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
0.91 |
1.17 |
1.17
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.88 |
2.16 |
1.91
|
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Siemens
·
Hello Limited
·
Nokia
HISTORY:
Subject was
incorporated on 30th May, 1988 at Kolkata in West Bengal having
Company Registration Number 44514.
Subject was originally
incorporated under the name & style of Infobase Systems Private Limited. It
became a Deemed Public Limited Company w.e.f. 15th May, 1990 and
changed its name to Infobase Finance Limited w.e.f. 18th February,
1993. The company further changed its name to Indal Electronics Limited w.e.f.
18th July, 1996 and then to the present w.e.f. 1st April,
1999.
The company shifted
its Registered office from Kolkata in
West Bengal to Mysore in Karnataka with effect from 21st October,
1999 and obtained a New Company Registration Number 25863 of the Registrar of
Companies, Karnataka.
Name Changed to the
present from 1st April 1999, as a consequence of change in ownership
from the Indian Aluminium Company Limited; Kolkata (Indal), to Austria
Technologies and Systemtechnik AG; Austria (AT&S).
Business
Subject is engaged
in the business as manufacturers, exporters and marketers of Printed Circuit
Boards, Software Development, IT solutions, Research and Development, etc.
It is also engaged in
software development and providing IT solutions.
Certification
The company has
been accredited with:
·
ISO 9002 From
1993 From: BSIQA; UK Certification.
·
ISO 14001 From
1996 From: Aspects, UK Certification.
A Joint Team of
ELCINA (Electronic Component Industries Association), Commonwealth Science
Council, UK and Rajiv Gandhi Foundations have chosen the company as one of the
five model plants in India as Technology leaders on Environment Management in
Electronics & IT sectors.
It has absorbed
technology from AMP-AKZO INC, USA.
It is in trade
terms with:
Austria
Technologies and Systemtechnik AG; Austria
Fixed Assets
Ø
Leasehold Land
Ø
Buildings
Ø
Plant &
Machinery
Ø
Computers And
Office Equipments
Ø
Furniture
& Fixtures
Ø
Motor Vehicles
Bankers Charges Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U85110KA1988PTC025863 |
|
Name of the
company |
AT AND S INDIA
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in India of the company |
12/A, Industrial
Area, Nanjangud – 571301, Mysore District, Karnataka |
|
Type of charge |
Movable Property Floating Charge |
|
Particular of
charge holder |
Punjab National
Bank, Devraj URS Road, Mysore - 570001, Karnataka, India |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation on
current assets and second charge on specified fixed assets |
|
Date of
instrument Creating the charge |
07.11.2006 |
|
Amount secured by
the charge |
Rs. 160.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 10.25 % p.a. Terms of
repayment Overdraft
facility Margin 25 % [50 % on
spares] Extent operation
of the charge
|
|
Short particulars
of the property charged |
Properties are
located in 12 A, Industrial Area, Nanjangud, Mysore. |
As Per Web Details:
India
Subject already is
the largest producer of printed circuit boards in India. The plant in Nanjangud produces multilayer printed
circuit boards for midrange and large-scale series. Continuous investments are
developing the technological equipment and capacity is constantly expanding.
The Nanjangud printed circuit boards are used predominantly in the areas of
industrial and medical technology, and in the automotive industry as well. The
location can be expanded as required.
In July 2005
subject acquired the Indian company ECAD (located in Bangalore),
which specializes in printed circuit board design. The aim in acquiring this
company was to extend the range of services subject provides and to offer
customers good prices at the printed circuit board design stage. Subject, the
largest manufacturer of printed circuit boards in India, is now also becoming
the biggest designer of these components.
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.48.43 |
|
UK Pound |
1 |
Rs.84.54 |
|
Euro |
1 |
Rs.65.91 |
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 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
63 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
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 |
|