%20PRIVATE%20LIMITED%20-%20TRADE%20INDIA%2023-Oct-2008_files/image002.jpg){kind=small}
MIRA INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
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Name : |
UNP POLYVALVES ( |
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Registered Office : |
S -11, Dev Prayag CHS Limited, Bhakti Mandir Road, Near Hari Niwas Circle, Panchpakhadi, Thane-400602, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
07.07.2000 |
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Com. Reg. No.: |
11-127615 |
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CIN No.: [Company
Identification No.] |
U25209MH2000PTC127615 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEU05365D |
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PAN No.: [Permanent
Account No.] |
AAACU4192L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Plastic Pipes, Flanges, Stubends and Allied types of Pipe Fittings. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 14000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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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. Mr. Urmul Shal (Tel No. 91-265-2637379. 91-9825041614), Mrs. Vijaya
(Manager) and some junior learner staff totally declined financial details. |
INFORMATION PARTED BY
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Name : |
Mr. Premjeet |
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Designation : |
Production Manager |
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Date : |
22.10.2008 |
LOCATIONS
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Registered
Office : |
Dev Prayag, C. H. S., S -11, Bhakti Mandir Road, Near Hari Niwas Circle, Panchpakhadi, Thane (West) – 400 602, Maharashtra, India |
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Tel. No.: |
91-22-25675205/25686061/ 25392339 / 55921566/ 67/ 68 / 67921566/67/68 |
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Mobile No.: |
91-9825666024 |
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Fax No.: |
91-22-25686061/ 91-22-25337795 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Head Office : |
Vijay Enclave, Building No.3, Flat No.44, Off |
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Tel. No.: |
91-22-25392339 |
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Administrative Office : |
Gar Building No. 7, Co-operative Housing Society, B –
Wing, Flat No. 33, Khopat, Thane (West), Mumbai – 400 601, |
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Corporate Office : |
748/4 GIDC, Makarpura, Vadodara – 390 010, |
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Tel No.: |
91-265-2649248 |
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Fax No.: |
91-265-2632628 |
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Area: |
1500 Sq.fts |
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Location : |
Owned |
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Factory 1 : |
Unit 1 (An ISO 9001:2000 Certified),
Survey No.429, Shed No.4, Near Kalali Railway Crossing, Atladara,
Vadodara-390012, |
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Tel. No.: |
91-265-2330 548 |
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Fax No.: |
91-262-2339 415 |
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E-Mail : |
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Factory 2 : |
Unit 2 (748/4), GIDC, Makarpura, Vadodara - 390 010, |
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Tel. No.: |
91-265-2645379 / 2649248 |
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Fax No.: |
91-265-2632628 |
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Factory 3: |
988/14 GIDC, Makarpura, Vadodara, |
DIRECTORS
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Name : |
Mr. Amit N Shah |
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Designation : |
Director |
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Address : |
18/A, Durga Nagar Society, B/H Tube Co., Old Padra Road,
Baroda-390012, |
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Date of Birth/Age : |
01.09.1969 |
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Qualification : |
Engineer |
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Date of Appointment : |
07.07.2000 |
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Name : |
Mr. Urmilbhai Shah |
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Designation : |
Director |
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Address : |
18/A, Durga Nagar Society, B/H Tube Co., Old Padra Road,
Baroda-390012, |
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Date of Birth/Age : |
04.08.1972 |
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Qualification : |
LLB, Management Degree |
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Date of Appointment : |
10.07.2000 |
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Name : |
Mr. Nalinkant A Shah |
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Designation : |
Director |
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Address : |
18/A, Durga Nagar Society, B/H Tube Co., Old Padra Road,
Baroda-390012, Gujarat |
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Date of Birth/Age : |
10.04.1936 |
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Qualification : |
LLB |
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Date of Appointment : |
07.07.2000 |
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Name : |
Ms. Sonia A Shah |
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Designation : |
Director |
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Address : |
18/A, Durga Nagar Society, B/H Tube Co., Old Padra Road,
Baroda-390012, Gujarat |
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Date of Birth/Age : |
01.01.1974 |
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Qualification : |
Graduate |
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Date of Appointment : |
07.07.2000 |
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Name : |
Ms. Disha U Shah |
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Designation : |
Director |
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Address : |
18/A, Durga Nagar Society, B/H Tube Co., Old Padra Road,
Baroda-390012, Gujarat |
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Date of Birth/Age : |
01.01.1974 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.07.2000 |
KEY EXECUTIVES
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Name : |
Mr. Premjeet |
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Designation : |
Production Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Amit Shah |
81 |
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Ms. Sonia Shah |
2031 |
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Ms. Disha Shah |
2165 |
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Mr. Nalikant Shah |
1081 |
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Mr. Urmil Shah |
500 |
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Mr. Urmil Shah (HUF) |
1 |
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Mr. Amit Shah (HUF) |
1 |
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Mr. Nalin Shah (HUF) |
1 |
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Total |
5861 |
Equity Share Breakup (Percentage of Total Equity)
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Category (As on 29.09.2007) |
Percentage |
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Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Plastic Pipes, Flanges, Stubends and Allied types of Pipe Fittings. |
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Products : |
Generic Names of Principal Products / Services of the Company are :- v
Plastic Pipes v
Flanges v
Stubends v
Allied types of Pipe Fittings v Polymers v Strainer Its’ products range includes :- v
Pnumatically Actuated Valves v
Pneumatically Actuated Valves v
Pneumatically Actuated Valves |
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Exports : |
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Countries : |
Bangladesh, Thailand, Germany, Egypt, Brazil, United Arab Emirates,
Quatar, Kuwait, Indonesia, China, Japan, Sri Lanka |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Belgium, Japan, United States and Germany |
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Terms : |
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Selling : |
L/C, Credit |
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Purchasing : |
Credit, Performa Invoice |
GENERAL INFORMATION
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Suppliers : |
v
Sri Nidhi Advertising and Marketing v
Mark Enterprises v
Mumbai Baroda Roadways v
The Professional Couriers v
Expenditors International (India) Private Limited v
Wayking Auto Garage v
Blockdale v
Hrucha Worldwide Courier v
Sagar Xerox v
B-Mart v
Jasubhai Media Private Limited v
Suraj Enterprises v
Delta Prints v
Net Tech Systems v
SKD Enterprises v
Virat Machinery and Tools v
Shree Virad Oil Suppliers v
Uma Steel Corporation v
Zex Electricals v
Krunal Electrical and Services v
Laxmi Steel Corporation v
Abhishek Travels and Forex Limited v
Chheda Trading Company v
Seven Hills Publication Private Limited v
Ravi Art v
N. K. Sales Corporation v
Shree Mukt Jewellers v
Tej Auto Engineers v
Down Town Motors Private Limited v
Khushboo Auto Electrical Works v
Mac Photographer v
Jasubhai Media Private Limited v
Commercial Publications v
J. K. Cycle Company v
The plastic Export Pro. Council v
Usha Ascot |
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Customers : |
OEM’s Some of its’ major customers are :- v
Abiaze Glass Works Private Limited v
Amoli Organics Limited v
Aqua Chemicals and Systems (Mfg.) v
Bayer (India) Limited v
Bhabani Pigments Private Limited v
Bharat Starch Industries Limited v
Birla Cellulosic v
Calyx Pharmaceuticals and Cheminova India Limited v
Colour Chaem Limited, Thane v
Cosord, India v
D. K. Engineers v
Daurala Organics Limited v
Duvent Fans Private Limited v
Exide Industries Limited v
Flat Products Equipments (India) Limited v
Furnace Fabrica (India) Limited v
Gea Energy System (India) Limited v
Gharda Chemicals Limited v
Grasim Industries Limited, Nagda v
Gujrat Alkali and Chemicals, Baroda, Gujarat v
Gujarat Alkali and Chemicals, Dahej, Gujarat v
Gulbrandson Chemicals Private Limited v
Heubach Colour Limited v
Hi-Tech Polymers v
Hussain Enterprise v
Indo Gulf Corporation Limited v
Integrated Quality Services v
Ion Exchange (India) Limited, Navi Mumbai,
Maharashtra v
Kamdhenu Nutrients Private Limited v
Kemplast Products v
Lloyd Insulations (India) Limited v
Lupin Limited v
Manisha Steels v
Multiform Machinery (Bombay) Private Limited v
Multy Products v
P. V. Products (Dadar) v
Paramount Limited v
K. B. Steel v
Pesticides India v
Pharmlab Process Equipments v
Phthalo Colour and Chemicals Limited v
Procon Engineers v
Ranbaxy Laboratories Limited, Toansa v
Ravi Dyeware Company Limited v
Reliance Silicones (India) Limited v
Sanmar Speciality Chemicals Limited v
Chempro Expertise Private Limited v
Chemtex Engineering of India Limited v
Dalal Consultants and Engineers
Limited v
Engineers India Limited v
Hindustan Dorr-Oliver Limited v
Humphreys and Glasgow Consultants
Limited v
IBI Chematur (Engg. and Consultancy)
Limited v
Idea Babcock v
Krebs and CIE Limited v
Kti (India) Limited v
Kvaerner John Brown Limited v
Kvaerner Powergas India Limited v
Lurgi India Limited v
M.N. Dastur and Company Limited v
Monsanto-Dmcc Enviro-Tech and Engg.
Limited v
Pipecon Consultants (India) Private
Limited v
R.J. Associates (Engineers) Private
Limited v
Shriram Projects Limited v
Shroff and Associates (Engineers)
Private Limited v
Tata Consulting Engineers v
Techimont ICB Limited v
Thapar Chemtex Limited v
Toyo Engineering India Limited v
Uhde India Limited |
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No. of Employees : |
50 |
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Bankers : |
· ICICI Bank · Vijaya Bank, Thane, Maharashtra · Bank of Maharashtra, Baroda, Gujarat · Bank of Maharashtra, Thane, Maharashtra · Vijaya Bank, Baroda, Gujarat |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. G. Gandhi and Company Chartered Accountants |
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Address : |
14-B, ‘Vaibhav’, 1st Floor, Corner of M. G.
Road and S. L. Road, Mulund (West), Mumbai – 400 080, Maharashtra, India |
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Tel. No.: |
91-22-25675205/25686061 |
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Fax No.: |
91-22-25686061 |
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Memberships : |
Plexcouncil, WTC |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
5861 |
Equity Shares |
Rs.100/-
each |
Rs.0.586
million |
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 |
0.586 |
0.586 |
0.586 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.408 |
2.072 |
1.727 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.994 |
2.658 |
2.313 |
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LOAN FUNDS |
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1] Secured Loans |
1.608 |
1.024 |
1.021 |
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2] Unsecured Loans |
0.265 |
0.844 |
0.898 |
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TOTAL BORROWING |
1.873 |
1.868 |
1.919 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.867 |
4.526 |
4.232 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
9.106 |
8.888 |
8.438 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.448 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.096 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.467
|
0.402 |
0.601 |
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Sundry Debtors |
5.591
|
8.321 |
1.599 |
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Cash & Bank Balances |
10.765
|
9.755 |
6.763 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.915
|
2.630 |
1.918 |
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Total
Current Assets |
17.738
|
21.108 |
10.881 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
23.104
|
23.891 |
14.156 |
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Provisions |
1.428
|
1.595 |
0.948 |
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Total
Current Liabilities |
24.532
|
25.486 |
15.104 |
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Net Current Assets |
(6.794)
|
(4.378) |
(4.223) |
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MISCELLANEOUS EXPENSES |
0.011 |
0.016 |
0.017 |
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TOTAL |
4.867 |
4.526 |
4.232 |
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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 |
59.854 |
50.961 |
35.864 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
59.854 |
50.961 |
35.864 |
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Profit/(Loss) Before Tax |
0.765 |
0.787 |
0.815 |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
0.765 |
0.787 |
0.815 |
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Expenditures : |
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Interest |
0.253 |
0.344 |
0.170 |
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Depreciation & Amortization |
1.670 |
1.642 |
0.988 |
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Other Expenditure |
57.166 |
48.188 |
33.891 |
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Total Expenditure |
59.089 |
50.174 |
35.049 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.28
|
1.54 |
2.27 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.28
|
1.54 |
2.27 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.84
|
2.62 |
4.22 |
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Return on Investment (ROI) (PBT/Networth) |
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0.25
|
0.30 |
0.35 |
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Debt Equity Ratio (Total Liability/Networth) |
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8.82
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10.29 |
7.36 |
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Current Ratio (Current Asset/Current Liability) |
|
0.72
|
0.83 |
0.72 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
Subject is engaged in manufacturing of Plastic Pipes, Flanges, Stubends
and Allied types of Pipe Fittings.
NOTES:-
The situation of the registered office of the company has changed from :
Vijay Enclave, Building No.3, Flat No.44, Off Ghodbunder Road, Thane
(West)-400607, Maharashtra, India
To :
Dev Prayag, C. H. S., S-11, Bhakti Mandir Road, Near Hari Niwas Circle,
Panchpakhadi, Thane (West) – 400 602, Maharashtra, India with effect from 05.07.2006
FIXED ASSETS:-
· Telephone
· Instruments,
· Fax Machine,
· Furniture,
· Office Equipment,
· Motor Car (Old),
· Motor Car (New),
· Plant and Machinery,
· Electric Fittings,
· Dies and Tools,
· Air Conditioner,
· Computer
· Cycles.
TRADE REFERENCES:
Ř
Century Rayon, Sahad
Ř
Chemfab Alkalies and Chemicals Limited
Ř
Chemplast-sanmar Limited, Chennai
Ř
Gujarat Alkalies and Chemicals Limited, Baroda and
Dahej
Ř
Grasim Industries Limited Chemical Division, Nagda
Ř
Hukumchand jute and Industries Limited, Shadol
Ř
Indian Petrochmichals Corporation Limited, Dahej
Ř
Indian Rayon and Industries Limited,Veraval
Ř
NRC Limited, Shad
Ř
Punjab Alkalies and Chemicals Limited, Naya Nangal
Ř
Standard Alkalis and Chemicals, Thane, Maharashtra
Ř
Seach Chem Industries Limited, Jhagadia
Ř
Shriram Alkalies and Chemicals Limited, Jhagadia
Ř
Shriram Vnyl and Chemicals Limited, Kota, Rajasthan
Ř
Siel Chemicals Complex, Rajpura
Ř
Travancore Cochin Chemicals Limited, Cochin
Ř
Tata Chemicals Limited, Mithapur
Ř
Aarti Organics Limited, Vapi
Ř
Amoli Organics Limited, Ekalbara
Ř
Andhra Pradesh Rayons Limited, Secunderabad
Ř
Aditya Birla Nuovo Limited, Veraval
Ř
Thyssen Crupp
Website DETAILS:
Company Details
Having an experience over a decade has continuously developed the most
critical products for Chemical Industries. The company has evolved its own
designs and observations of strict quality controls that have earned it a name,
which is appreciated by all leading consultants and reputed Industries.
Product Details
They introduce themselves as one of the manufacturer's in India for
Valves and Piping Systems from Advanced Engineering Plastics. Their product
range includes Ball Valves, Diaphragm Valves, Non-return Valves, Foot Valves,
Sight Flow Indicators, Pipes and Pipe fittings.
Having an experience over a decade has continuously developed the most
critical products for Chemical Industries. The company has evolved its own
designs and observations of strict quality controls that have earned it a name,
which is appreciated by all leading consultants and reputed Industries.
Have developed specially designed Sampling Valves, Strainers and
Diaphragm Valves as an import substitution to the existing imported valves
especially for Caustic Chloro Plants.
Are pioneer and specialised in making Valves, Pipes and Fittings out of
most advanced engineering plastics like PVDF, ETFE and Special Grade Isotactic
PP which are now widely used and well accepted in Chemical Industries.
Shop floor, strict quality control over each and every component used for
valve manufacturing ensures best quality, 100% leak proofness and long life to
its products. 100% quantity of valves manufactured by it are subjected to
Hydrotest and atleast two valves from each batch of 100 Nos. is subjected to
burst test to ensure that any rise in pressure upto 4 times the working
pressure due to process problems the valve should not burst on line.
To ensure consistent quality and long life, subject makes use of only
specific grades which are recommended by the manufacturers of raw materials for
their kind of products. The company is trying for ISO-9000 Certification.
Materials
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TECHNICAL
PROPERTIES OF NORMAL POLYPROPYLENE |
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PROPERTIES |
POLYPROPYLENE |
|
|
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Specific Gravity |
0.90-0.91 |
|
Water Absorption(% in 24 hrs.) |
0.01-0.03 |
|
Hardness(Rockwell) |
R90-95 |
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Tensile Strength-(lb/sq.in.) |
4400-4800 |
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Impact Strength -Izod notched-(ft. lbs.) |
1.5-2.5 |
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Elongation at break(%) |
220-600 |
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Yield Stress(lb./sq.in.) |
4400-4800 |
|
Flexural Modulus(lb./sq.in.) |
1.5*105 |
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Modules Of Elasticity In Tension(lb./sq.in.) |
1.5*105 |
|
Softening Point(deg.C.) |
135-150 |
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Load-Heat(Cal/grm/deg.C.) |
0.46 |
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Load-Heat Deformation 66 lb./sq. in (deg.C.) |
95-110 |
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Load-Heat Deformation 264 lb./sq. in (deg.C.) |
60-65 |
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Inflammability |
Slow Burning |
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Thermal Expansion (in/in./deg.C.) |
805-11*10-5 |
|
Mould Shrinkage(in. per Inch) |
0.01-0.02 |
|
Injection Moulding Temp (deg.C.) |
200-300 |
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.49.29 |
|
UK Pound |
1 |
Rs.80.40 |
|
Euro |
1 |
Rs.63.35 |
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/normal. |
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 |
|