MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
VENTURE INFOTEK GLOBAL PRIVATE LIMITED |
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Registered Office : |
4th Floor, 46B, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.01.1997 |
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Com. Reg. No.: |
82498 |
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CIN No.: [Company
Identification No.] |
U72200WB1997PTC082498 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV02968A |
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PAN No.: [Permanent
Account No.] |
AAACE2403J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Development of computer software (processing and special purpose
vehicle) |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 250000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track.
Company’s profitability is under severe pressure. It has some accumulated losses.
Payments are reported as slow but correct. The company can be considered normal for small business dealings at
usual trade terms and conditions, with slight caution initially. |
LOCATIONS
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Registered Office : |
4th Floor, 46B, |
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E-Mail : |
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Website: |
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Corporate Office 1 : |
701, Interface 11, Malad, Mumbai 400 064, |
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Tel. No.: |
91-22-40424000 |
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Fax No.: |
91-22-40424400 |
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E-Mail : |
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Corporate Office 2 : |
DEI Tech Centre, |
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Tel. No.: |
91-11-51638085 |
DIRECTORS
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Name : |
Mr. Dhruv Kumar Rudra Narayan Khaitan |
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Designation : |
Chairman |
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Address : |
4th Floor, 46B, |
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Date of Birth/Age : |
23.10.1949 |
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Date of Appointment : |
27.01.1997 |
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Name : |
Mr. Piyush Kumar Kusum Kumar Khaitan |
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Designation : |
Managing Director |
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Address : |
38 A, |
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Date of Birth/Age : |
23.11.1957 |
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Date of Appointment : |
02.01.1997 |
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Name : |
Ms. Soo Ping Yong |
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Designation : |
Director |
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Address : |
332, Laurel Wood Avenue, Singapore-275949 |
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Date of Birth: |
28.10.1966 |
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Date of Appointment: |
01.07.2006 |
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Name : |
Mr. Anand Das Maheshwar |
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Designation : |
Director |
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Address : |
Plot H, |
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Date of Appointment : |
29.11.2004 |
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Name : |
Mr. B Ravi Kumar |
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Designation : |
Director |
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Address : |
203, Casuarina, A Wing, Evershine
Greens, New |
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Date of Birth: |
10.06.1955 |
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Date of Appointment : |
29.11.2004 |
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Name : |
Mr. Rajive Khaitan |
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Designation : |
Director |
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Name : |
Mr Girijar Khatod |
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Designation : |
Director |
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Name : |
Mr. Pulak Prasad |
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Designation : |
Director |
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Address: |
EM Warburg Pincus and Company ( |
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Date of Birth: |
27.05.1968 |
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Date of Appointment: |
29.09.2000 |
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Date of Ceasing: |
22.12.2006 |
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Name : |
Mr. Nitin Sibal |
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Designation : |
Director |
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Name : |
Mr Dinesh Vaswani |
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Designation : |
Director |
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Address: |
7th Floor, Flat B/13, 38, |
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Date of Birth : |
17.07.1962 |
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Date of Appointment: |
30.04.2002 |
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Name : |
Mr. Naresh Malhotra |
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Designation : |
Director |
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Address: |
31, 2nd Main Defence Colony, Indira Nagar,
Bangalore-560038, |
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Date of Birth: |
05.06.1947 |
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Date of Appointment: |
08.03.2001 |
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Name : |
Mr. William Melton |
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Designation : |
Director |
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Address: |
2086, |
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Date of Birth: |
31.03.1942 |
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Date of Appointment: |
30.09.2004 |
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Name : |
Mr. Raman Raghavendran |
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Designation : |
Additional director |
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Address: |
116, |
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Date of Birth: |
14.11.1968 |
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Date of Appointment: |
07.12.2007 |
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Name : |
Mr. Abhishek Maheshwari |
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Designation : |
Additional Director |
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Address: |
B-25, Kalpataru Habitat, |
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Date of Birth: |
22.12.1974 |
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Date of Appointment: |
07.12.2007 |
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Name : |
Mr. Haigrave Khaitan |
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Designation : |
Alternate Director |
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Address: |
1104, Sterling Seaface, |
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Date of Birth: |
13.07.1970 |
KEY EXECUTIVES
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Name : |
Mr. B Ravi Kumar |
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Designation : |
Company Secretary |
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Date of Birth/Age : |
10.06.1955 |
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Date of Appointment : |
29.11.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Venture InfoTech Limited |
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14955270 |
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IBM Global Services |
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35000 |
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Total |
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14990270 |
As on 15.07.2008
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List of Allottees |
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No. of Shares Allotted |
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Venture InfoTech Limited |
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2718046 |
Equity share breakup (percentage of total equity)
As on 30.09.2007
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S. No. |
Category |
Percentage |
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1 |
Foreign holding (foreign institutional
investor(s), foreign companie(s), foreign financial instituon(s), non
resident Indian(s) or overseas corporate bodies or others |
99.76 |
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2 |
Bodies corporate (not mentioned above) |
0.24 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Development of computer software (processing and special purpose
vehicle) |
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Products : |
Income Form Operation |
GENERAL
INFORMATION
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Customers: |
Ř HSBC Ř ICICI Bank Ř Axis Bank Ř SBI Card Ř BOB Cards Ř IDBI Bank Ř Vijaya Bank Ř Nations Trust Bank Ř
Bank of Ř J and K Bank Ř Andhara Bank Ř
Central Bank of Ř Merchant Solutions Ř Canara Bank Ř Dena Bank Ř Syndicate Bank Ř
Union Bank of Ř Corporation Bank Ř ABN Amro Ř Bharat Petroleum |
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Bankers : |
· Development Credit Bank Limited, 301, Trade Plaza, 414, Veer Savarkar Marg, Prabhadevi, Mumbai 400 025, Maharashtra, India ·
YES Bank Limited, 9th Floor, Nehru Centre,
Discovery Of |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S R Batliboi and Company Chartered Accountants |
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Address : |
18th Floor, |
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Tel No.: |
91-22-22876485 |
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Fax No.: |
91-22-22876401 |
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Associates/Subsidiaries : |
Name of the
Company: One To One Marketing Solutions ( CIN No.:
U51900MH2000PTC127435 |
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Holding Company: |
Venture Infotek Limited |
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Fellow Subsidiary : |
·
VI ePlex Private Limited ·
Venture Infotek Incorporation ·
Venture Infotek India Private Limited |
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Enterprises Controlled by KMP : |
·
Clockwork Business Centre Private Limited ·
DEI Limited |
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Joint Venture of Holding Company: |
·
VI e Trans Private Limited ·
Technonet Technologies Limited |
CAPITAL STRUCTURE
As on 03.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000000 |
Equity shares |
Rs. 10/- each |
Rs. 150.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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14990270 |
Equity shares |
Rs. 10/-
each |
Rs. 149.903
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 |
149.903 |
98.583 |
98.583 |
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2] Share Application Money |
62.137 |
713.901 |
715.863 |
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3] Reserves & Surplus |
1201.940 |
601.496 |
601.496 |
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4] (Accumulated Losses) |
[1362.719] |
(1353.382) |
(1293.742) |
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NETWORTH |
51.261 |
60.598 |
122.200 |
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LOAN FUNDS |
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1] Secured Loans |
103.356 |
166.712 |
76.163 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
103.356 |
166.712 |
76.163 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
154.617 |
227.310 |
198.363 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
162.767 |
170.737 |
184.738 |
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Capital work-in-progress |
0.281 |
15.188 |
11.325 |
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INVESTMENT |
8.538 |
8.538 |
0.200 |
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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
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0.000
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0.000 |
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Sundry Debtors |
49.200
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81.400
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71.759 |
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Cash & Bank Balances |
42.744
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32.538
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13.922 |
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Other Current Assets |
0.000
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0.000
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0.000 |
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Loans & Advances |
45.829
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38.791
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30.858 |
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Total
Current Assets |
137.773
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152.729
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116.539 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
136.107
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107.740
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100.562 |
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Provisions |
18.635
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12.142
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13.875 |
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Total
Current Liabilities |
154.742
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119.882
|
114.437 |
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Net Current Assets |
[16.969]
|
32.847
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2.102 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
154.617 |
227.310 |
198.363 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
426.178 |
384.323 |
400.222 |
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Other Income |
2.590 |
1.568 |
0.740 |
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Total Income |
428.768 |
385.891 |
400.962 |
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Profit/(Loss) Before Tax |
[5.560] |
(57.479) |
(56.236) |
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Provision for Taxation |
1.936 |
2.161 |
0.000 |
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Profit/(Loss) After Tax |
[7.496] |
(59.640) |
(56.236) |
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Earnings in Foreign Currency : |
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Export Earnings |
10.880 |
5.590 |
NA |
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Expenditures : |
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Salaries, Wages, Bonus, etc. |
0.000 |
67.290 |
67.630 |
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Managerial Remuneration |
0.000 |
4.735 |
15.838 |
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Payment to Auditors |
0.000 |
0.701 |
0.740 |
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Interest |
15.138 |
15.858 |
14.879 |
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Insurance Expenses |
0.000 |
1.048 |
1.386 |
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Power & Fuel |
0.000 |
4.115 |
5.717 |
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Depreciation & Amortization |
68.781 |
147.007 |
130.868 |
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Other Expenditure |
350.409 |
202.616 |
220.140 |
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Total Expenditure |
434.328 |
443.370 |
457.198 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
[1.75]
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(14.89)
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(14.02) |
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Net Profit Margin (PBT/Sales) |
(%) |
[1.29]
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(14.95)
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(14.05) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
[1.85]
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(17.76)
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(18.66) |
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Return on Investment (ROI) (PBT/Networth) |
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[0.11]
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(0.94)
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(0. 46) |
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Debt Equity Ratio (Total Liability/Networth) |
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5.03
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4.72
|
1.55 |
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Current Ratio (Current Asset/Current Liability) |
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0.89
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1.27
|
1.01 |
LOCAL AGENCY
FURTHER INFORMATION
Business and
Operations:
The total Terminal under management increased to almost 80337 terminals
from the earlier base of 56763 terminals. The company continues to enjoy a market
share exceeding 25%, both in the terminal base managed and volumes handled.
During the year, the Company successfully migrated the Acquiring transactions
to the EMV platform.
The company has been focusing on broad-basing the revenues from across different
business segments. The total number of cards managed exceeded 4.000 Millions at
the close of this year.
During the year, the company added Seven more customers for bankcard
Issuing, acquiring and loyalty card processing services.
The company made investments in the Hot Disaster Recovery Site at
The company continues to be a Payment Card Industry (PCI) compliant
Third Party processor and compliant with all standards for cardholder
information security as per guidelines issued by Visa and MasterCard
International.
The company continues to give great important to Quality and Innovation.
The Company has so far completed more than 100 Kaizen projects and over a dozen
six sigma projects. continued focus towards process efficiently thro’ Quality
initiatives are likely to bring down cost, and demonstrate superior service
delivery.
The company’s new facilities which they moved in the reporting period
have been greatly appreciated by Customers, Vendors and other visitiors.
Employee morale, enthusiasm and Productivity has surged due to the positive
work environment and ambience.
The Company has been able to maintain its leadership position in the
domestic market and continues to enjoy top-of-mind recall with leading banks,
financial institutions and corporate in the payments and loyalty domain.
Bankers Charges
Report as per Registry
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Corporation identity number or foreign company registrations number of the company |
U72200WB1997PTC082498 |
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Name of the company |
VENTURE INFOTECK GLOBAL PRIVATE LIMITED |
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Address |
4th Floor, 46B, |
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This Form is for |
Creation of Charge |
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Type of Charges |
Book debts, Movable property (not being pledge) |
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Particular of the charge holder |
Development Credit Bank Limited 301, |
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Nature or description of the instrument creating charge |
Deed of hypothecation executed at Koklata on 19.05.2007 |
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Date of the instrument creating charge |
19.05.2007 |
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Amount Secure by the charge |
Rs. 50.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
a) Rate of Interest; Bank’s Benchmark Prime Lending Rate (BPLR) less 4%
b) Rate of Repayment: Term loan shall be repaid on demand within a period of 39 moths viz repayable in 36 monthly installments after a moratorium period of 3 months. At the discretion of the bank
c) Margin: The company shall maintain such margin as may be specified by the bank from time to time
d) Extent and operation of the charge: 100%
e) Other: The above charge is to secure total facility of Rs. 50.000 millions in the name of Venture InfoTech Global Private Limited
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Description of the property charge whether it is a charge on |
Deed of hypothecation executed at Kolkata dated 19.05.2007 |
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Date of instrument modifying the charge |
18.05.2007 |
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Particulars of the Property charged |
(i) whole of the borrower’s equipments including capex, imported terminal, computers and other related equipments acquired to be acquired out of the term loan both present and future. (ii) All the borrower’s receivables pertaining to the BOB cards limited IDBI Bank, HSBC and such other banks/select cooperated acceptable to the bank as may be received by the borrower, both present and future |
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Short Particulars of the Property charged |
First charge on whole of the borrower’s equipments including Capex, imported terminals, computers acquired to be acquired out of the term loan, both present and future. And all the borrower’s receivables pertaining to the BOB cards Limited, IDBI Bank, HSBC and such other banks / select corporate acceptable to the bank as may be received by the borrower, both present and future. Property
charge will be located at corporate office at Mumbai and at merchant location
all across |
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This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U72200WB1997PTC082498 |
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Name of the
company |
VENTURE INFOTECK GLOBAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
4th Floor, 46B, |
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Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
YES Bank Limited, 9th Floor, Nehru Centre,
Discovery Of |
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Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
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Date of
instrument Creating the charge |
17.07.2008 |
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Amount secured by
the charge |
Rs. 100.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest YES Bank Prime
Lending Rate (PLR) minus 4.00%, prevalent from time to time. The current YES
Bank Prime Lending rate being at 16.00% p. a. The Effective rate is 12.00%
per annum Terms of
Repayment Repayment In 10
equal quarterly installments commencing from the end of 6 months form the
date of first disbursement. Margin 25% Extent and
Operation of the charge i)
Exclusive charge
on the movable assets to be financed out of YBL facility ii)
Exclusive
charge on all receivables form Andhra Bank, Vijaya Bank, Canara Bank,
Standard Chartered Bank, Bank of India, American Express Banking Corporation,
ABN Amro Bank, Jammu and Kashmir Bank, Union Bank of India, Nations Trust
Bank, ICICI Bank, Syndicate Bank, Dena Bank, Vietrans Private Limited to
cover TL for INR Rs. 100.000 Millions |
|
Short particulars
of the property charged |
i)
Exclusive
charge on the movable assets to be financed out of YBL facility ii)
Exclusive
charge on all receivables form Andhra Bank, Vijaya Bank, Canara Bank,
Standard Chartered Bank, Bank of India, American Express Banking Corporation,
ABN Amro Bank, Jammu and Kashmir Bank, Union Bank of India, Nations Trust
Bank, ICICI Bank, Syndicate Bank, Dena Bank, Vietrans Private Limited to
cover TL for INR Rs. 100.000 Millions |
As per web details;
Subject is
Company
History
Subject started its journey in the ePayment sector in 1997 and since
then has been instrumental in shaping the way
The company not only enjoys a tremendous first mover's advantage, but
also has in place a superior infrastructure backed by a very professional and
experienced management team, which has worked in the Indian eTransaction
business for more than a decade.
Having achieved leadership in the Indian market, subject has begun to
spread its wings into the overseas market with its clientele now in the Sri
Lankan and
Leveraging on its intellectual property subject has served as a catalyst
in the payment card industry and is now focused on upstream integration into
business consulting.
Management Team
Mr. Dhruv Khaitan – Founder and Chairman
Mr. Dhruv Khaitan holds a Bachelor's degree in Electrical Engineering
from MIT and a Master's degree in Computer Science from
Mr. Piyush Khaitan – Founder, Vice Chairman and Managing Director
Mr. Piyush Khaitan is a commerce graduate from
Board of Directors
Mr. Dhruv Khaitan – Founder and Chairman
Mr. Dhruv Khaitan holds a Bachelor's degree in Electrical Engineering
from MIT and a Master's degree in Computer Science from
Mr. Piyush Khaitan – Founder, Vice Chairman and Managing Director
Mr. Piyush Khaitan is a commerce graduate from
Mr. Naresh Malhotra – Director
Mr. Naresh Malhotra is a commerce graduate and a qualified Chartered
Accountant. He has over 30 years experience in industry, consultancy and
investment banking. He began his career with Imperial Chemical Industries (ICI)
and has worked with the Unilever Group, Colgate-Palmolive and United Breweries
Group, both in
Mr. William Melton – Director
Mr. William Melton is the founder and Chairman of the Board of Directors
of Global Internet Ventures (GIV), an Internet Holding Company. For more than
20 years, Mr. Melton has been an entrepreneur bringing technology to the
Financial Industry. Mr. Melton was the original founder of VeriFone, Inc. and
was also the funding founder of Transaction Network Services, Inc. (TNS). Mr.
Melton was an early investor in America Online (AOL) and served on its Board of
Directors for several years. Mr. Melton remains an active seed investor in
Strategic
Alliances and Partners
IBM
IBM Global Services (
VISA
Visa International is the world's leading full-service payment network. Jointly
owned by more than 21,000 member financial institutions around the globe, it
operates in more than 300 countries. Visa cards are the world's most widely
used and accepted form of "plastic" payment. In 1998 nearly $1.4
trillion in products and services were purchased using Visa cards and Visa's
market share at the POS, 55 percent, is greater than that of all other major
payment cards combined. There are over 800 million Visa, Interlink, PLUS and
Visa Cash cards in the market today. Visa-branded cards are accepted at more
than 16 million locations in 300 countries and territories. The Visa network,
known as VisaNet, processes over 2,700 transactions every second during its
peak season, and is capable of handling transactions denominated in 160
different currencies. Visa International and subject are working together as
partners to accelerate the development of infrastructure for banks for
front-end and back-end processing.
ORACLE
subject is a member of the Oracle Partner Network, with access to the best of
products, services and resources - including Platform Software, Technical
Support Training, and Marketplace, from Oracle. The partnership enables them to
build, test, and deploy best of breed applications for their customers using
Oracle products and industry-standard technologies.
Selectsystem
SelectSystem offers an S2M product (earlier known as MultiXPac) and provides
subject technical assistance for the core engine.
WELCOME
Welcome Real-Time, the world's leading provider of enhanced payment software
are introducing a revolutionary concept that enhances the payment experience of
Credit and Debit Card users at the Point of Sales (PoS). subject has entered
into a strategic alliance with Welcome to introduce a solution in the Indian
market that encompasses both magnetic stripe and Chip cards.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.48.83 |
|
|
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.12 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
|