MIRA
INFORM REPORT
|
Report Date : |
06.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
COMSTAR AUTOMOTIVE TECHNOLOGIES PRIVATE LIMITED |
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Formerly Known As : |
VISTEON POWERTRAIN CONTROL SYSTEMS INDIA PRIVATE LIMITED |
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Registered Office : |
Keelakaranai Village, Malrosapuram Post, Chengal, Pattu – 603 204,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.03.1997 |
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Com. Reg. No.: |
18-37783 |
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CIN No.: [Company
Identification No.] |
U35911TN1997PTC037783 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEE02139E |
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PAN No.: [Permanent
Account No.] |
AAACE2284P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing of starter motors and alternators. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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Maximum Credit Limit : |
USD 8600000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
Keelakaranai Village, Malrosapuram Post, Chengal, Pattu – 603 204,
Tamilnadu, India |
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Tel. No.: |
91-44-27454280 / 91-4114-254280 |
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Mobile No.: |
91-9940040182 |
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Fax No.: |
91-4114-253857 / 253858 |
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E-Mail : |
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Website : |
DIRECTORS
|
Name : |
Mr. Horst H Herzog |
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Designation : |
Chairman cum Managing Director |
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Address : |
# 1, 1 Floor, Riverview Apartment, 3rd Avenue, Bost Club
Road, Chennai - 600 028, Tamilnadu,
India |
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Date of Birth/Age : |
10.01.1938 |
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Nationality : |
American |
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Date of Appointment : |
22.04.1997 |
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Date of Termination : |
01.10.1999 |
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Name : |
Mr. David Tassinari |
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Designation : |
Director |
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Address : |
39, Cananought Lake Road, Chalsea, Mi 48118, USA |
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Date of Birth/Age : |
08.07.1942 |
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Nationality : |
American |
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Date of Appointment : |
22.04.1997 |
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Date of Termination : |
31.12.1999 |
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Name : |
Mr. Mike De Saivo II |
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Designation : |
Director |
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Address : |
12804 Lomond Court, Plymouth, MI 48170, USA |
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Date of Birth/Age : |
24.09.1943 |
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Nationality : |
American |
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Date of Appointment : |
22.04.1997 |
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Date of Termination : |
01.10.1999 |
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Name : |
Mr. Gopal Chandramowle |
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Designation : |
Whole Time Director |
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Address : |
9, Bay View Drive, New Mahabalipuram Road, Akkari, Chennai |
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Date of Birth/Age : |
22.12.1960 |
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Nationality : |
American |
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Date of Appointment : |
07.09.1998 |
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Date of Termination : |
30.03.2001 |
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Name : |
Mr. Stephen Davis |
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Designation : |
Director |
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Address : |
3075, Wisperwood Drive # 434, Ann Arbor, MI 48105, USA |
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Date of Birth/Age : |
06.10.1953 |
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Nationality : |
American |
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Date of Appointment : |
15.10.1997 |
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Date of Termination : |
01.01.2001 |
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Name : |
Mr. Mark Critiz |
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Designation : |
Chairman cum Managing Director |
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Address : |
Anussel Villa 2nd and 3rd Floor, BA, Cresent
Street, Bost Club, Chennai – 600 028, Tamilnadu, India |
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Date of Birth/Age : |
01.11.1950 |
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Nationality : |
American |
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Date of Appointment : |
01.10.1999 |
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Date of Termination : |
08.08.2002 |
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Name : |
Mr. Dudley Wass |
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Designation : |
Director |
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Address : |
9515, Wood Bend Drive, Sallno, MI 48176, USA |
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Date of Birth/Age : |
01.01.1947 |
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Nationality : |
American |
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Date of Appointment : |
01.10.199 |
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Date of Termination : |
29.09.2000 |
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Name : |
Mr. Michael Rajkovic |
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Designation : |
Director |
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Address : |
47330, Baker Street, Novi, MI 48374, USA |
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Date of Birth/Age : |
28.08.1961 |
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Nationality : |
American |
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Date of Appointment : |
31.12.1999 |
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Date of Termination : |
08.11.2001 |
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Name : |
Mr. William Harrison |
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Designation : |
Whole Time Director |
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Address : |
2/c Golden Shore Avenue, New Mahabalipuram Road, Akkari, Chennai,
Tamilnadu, India |
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Date of Birth/Age : |
23.12.1942 |
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Nationality : |
American |
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Date of Appointment : |
14.12.1997 |
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Date of Termination : |
29.06.1999 |
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Name : |
Mr. Bruce A Shatlcross (Alternate Director to David Tassinari) |
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Designation : |
Whole Time Director |
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Address : |
# 9, 2nd Floor, Riverview Apartment, 3rd Avenue,
Bost Club Road, Chennai - 600 028,
Tamilnadu, India |
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Date of Birth/Age : |
15.07.1952 |
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Nationality : |
Australian |
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Date of Appointment : |
25.03.1999 |
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Date of Termination : |
31.12.1999 |
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Name : |
Mr. Bruce A Shatlcross (Alternate Director to Dudley Wass) |
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Designation : |
Whole Time Director |
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Address : |
# 9, 2nd Floor, Riverview Apartment, 3rd Avenue,
Bost Club Road, Chennai - 600 028,
Tamilnadu, India |
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Date of Birth/Age : |
15.07.1952 |
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Nationality : |
Australian |
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Date of Appointment : |
31.12.1999 |
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Date of Termination : |
30.06.2000 |
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Name : |
Mr. Bruce Crawford (Alternate Director to Stephen Davis) |
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Designation : |
Whole Time Director |
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Address : |
16-C, Casuarina Drive, Neelangarai, Chennai – 600 041, Tamilnadu,
India |
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Date of Birth/Age : |
03.04.1946 |
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Nationality : |
American |
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Date of Appointment : |
20.05.1998 |
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Date of Termination : |
01.10.1999 |
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Name : |
Mr. Bruce Crawford (Alternate Director to Dudley Wass) |
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Designation : |
Whole Time Director |
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Address : |
16-C, Casuarina Drive, Neelangarai, Chennai – 600 041, Tamilnadu,
India |
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Date of Birth/Age : |
03.04.1946 |
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Nationality : |
American |
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Date of Appointment : |
01.10.1999 |
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Date of Termination : |
30.06.2000 |
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Name : |
Mr. Sanjay Narasimhan |
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Designation : |
Company Secretary |
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Address : |
# 18, 16th Avenue, Harrington Road, Chatpur, Chennai – 31,
Tamilnadu, India |
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Date of Birth/Age : |
28.12.1972 |
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Nationality : |
Indian |
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Date of Appointment : |
07.09.1998 |
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Date of Termination : |
31.12.1999 |
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Name : |
Mr. N K Shah (Alternate Director to Michael Rajkovic) |
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Designation : |
Whole Time Director |
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Address : |
# 9, ICL Riverview, 2nd Floor, 3rd Avenue, Bost
Club Road, Chennai – 600 028, Tamilnadu, India |
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Date of Birth/Age : |
15.09.1947 |
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Nationality : |
American |
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Date of Appointment : |
30.06.2000 |
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Date of Termination : |
06.11.2001 |
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Name : |
Mr. Gary Clark |
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Designation : |
Director |
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Address : |
45947, Cider Miller Road, Novl, Michigan – 48374, USA |
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Date of Birth/Age : |
17.02.1952 |
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Nationality : |
American |
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Date of Appointment : |
29.09.2000 |
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Date of Termination : |
06.11.2001 |
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Name : |
Mr. David L Avery |
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Designation : |
Whole Time Director |
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Address : |
Harida Guest House, #5/147, Rajiv Avenue, Enjambakkam, Chennai – 41,
Tamilnadu, India |
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Date of Birth/Age : |
27.05.1953 |
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Nationality : |
American |
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Date of Appointment : |
01.12.2000 |
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Date of Termination : |
20.03.2002 |
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Name : |
Mr. David Jacobs |
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Designation : |
Whole Time Director |
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Address : |
9 5, Venus Colony, Second Cross Street, Alwarpet, Chennai – 18,
Tamilnadu, India |
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Date of Birth/Age : |
14.04.1957 |
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Nationality : |
American |
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Date of Appointment : |
01.12.2000 |
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Date of Termination : |
06.11.2001 |
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Name : |
Mr. Roberi Pallash |
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Designation : |
Whole Time Director |
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Address : |
K-12, 1919, Xijao Guest House, East Part, Shanghai 200 336, China |
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Date of Birth/Age : |
14.04.1951 |
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Nationality : |
British |
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Date of Appointment : |
06.11.2001 |
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Name : |
Mr. Oougias Reymoulds |
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Designation : |
Whole Time Director |
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Address : |
3, Samarpan, No.7, 5th Avenue, Boasant Nagar, Chennai – 600
090, Tamilnadu, India |
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Date of Birth/Age : |
23.11.1951 |
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Nationality : |
American |
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Date of Appointment : |
06.11.2001 |
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Date of Termination : |
13.05.2002 |
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Name : |
Mr. Eric Mang |
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Designation : |
Whole Time Director |
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Address : |
No. 54, Windsor Palace Lane 2222, Jianhe Road, Shanghai 200 336, China |
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Date of Birth/Age : |
15.04.1959 |
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Nationality : |
American |
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Date of Appointment : |
06.11.2001 |
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Name : |
Mr. A Viswanathan |
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Designation : |
Whole Time Director and Company Secretary |
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Address : |
Flat 10, Block II, “Ananya Ashok”, No.5, Warren Road, Mylapore,
Chennai – 600 004, Tamilnadu, India |
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Date of Birth/Age : |
04.10.1962 |
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Nationality : |
Indian |
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Date of Appointment : |
08.08.2002 (Appointed as Company Secretary wef 27.09.2004) |
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Name : |
Mr. David L Avery |
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Designation : |
Whole Time Director |
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Address : |
Halda Guest House, #/5/147, Rajiv Avenue, Enjambakkam, Chennai – 41, Tamilnadu,
India |
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Date of Birth/Age : |
27.05.1953 |
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Nationality : |
American |
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Date of Appointment : |
13.05.2002 |
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Date of Termination : |
22.12.2004 |
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Name : |
Mr. Brian J Talt |
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Designation : |
Chairman cum Managing Director |
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Address : |
# 1/F, Plot 30 and 30A, Within limits of Akkaral, Sholinganallur
Village, New Mahabalipuram Road, Chennai – 600 096, Tamilnadu, India |
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Date of Birth/Age : |
14.10.1954 |
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Nationality : |
American |
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Date of Appointment : |
08.08.2002 |
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Name : |
Mr. J Krishnaswamy |
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Designation : |
Alternate Director |
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Address : |
Flat “G”, Padmakrishna Apartments, No.41, Ramaswamy Salai, K K Nagar,
Chennai – 600 078, Tamilnadu, India |
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Date of Birth/Age : |
08.01.1967 |
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Nationality : |
Indian |
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Date of Appointment : |
22.12.2004 |
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Name : |
Mr. Swaminathan Balasubramanian |
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Designation : |
Alternate Director |
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Address : |
Flat No. 7, Kaveri Apartments, Z-185, Anna Nagar, Chennai – 600 040,
Tamilnadu, India |
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Date of Birth/Age : |
03.03.1963 |
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Date of Appointment : |
26.12.2006 |
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Name : |
Mr. David Mathew Paborsky |
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Designation : |
Director |
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Address : |
Xijao Guest House, Garden Villa E-90, 1919 Hongqiao Road, Shanghai –
203 336, China |
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Date of Birth/Age : |
08.05.1967 |
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Date of Appointment : |
15.04.2006 |
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Name : |
Mr. Robert Pallash Charles |
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Designation : |
Director |
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Address : |
66 Le Chateau, 2000, Jian He Road, Changning District, Shanghai – 200
336, China |
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Date of Birth/Age : |
14.04.1951 |
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Date of Appointment : |
16.11.2001 |
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Name : |
Mr. Kam Kah Ken |
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Designation : |
Alternate Directorq |
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Address : |
Flat A,26/F, Tower 5, 8 Sham Mong Road, Harbour Green, Tai Kok Tsui,
Kowloon, Hong Kong – 999999 |
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Date of Birth/Age : |
25.07.1980 |
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Date of Appointment : |
24.09.2007 |
KEY EXECUTIVES
|
Name : |
Mr. V Veerasundher |
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Designation : |
Company Secretary |
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Address : |
1342/1, Lily Apartments, 19th Main Road, Annanagar West,
Chennai – 40, Tamilnadu, India |
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Date of Birth/Age : |
08.04.1966 |
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Nationality : |
Indian |
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Date of Appointment : |
24.02.2000 |
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Date of Termination : |
08.08.2002 |
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Name : |
Mr. A R Alamelu |
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Designation : |
Company Secretary |
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Address : |
# 4/5, 9th Street, Murugan Street, Kumaran Colony, Vadapalani, Chennai
– 600 026, Tamilnadu, India |
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Date of Birth/Age : |
01.05.1972 |
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Nationality : |
Indian |
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Date of Appointment : |
08.08.2002 |
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Date of Termination : |
16.12.2002 |
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Name : |
Mr. S Jayaraman |
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Designation : |
Company Secretary |
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Address : |
# 82, Akshaya Apartments, No.13, Tirumurthi St., T Nagar, Chennai –
600 017, Tamilnadu, India |
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Date of Birth/Age : |
05.04.1971 |
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Nationality : |
Indian |
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Date of Appointment : |
01.05.2003 |
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Date of Termination : |
12.08.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
No. of Shares |
|
Visteon International Holdings Inc., USA |
105150225 |
|
Visteon Asia Holdings Inc., USA |
9850000 |
|
|
|
|
Total |
115000225 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
|
Foreign holdings (Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution (s), Non-Resident
Indian(s) or Overseas corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of starter motors and alternators. |
GENERAL
INFORMATION
|
Bankers : |
Standard Chartered Bank 19, Rajaji Salai, Chennai – 600 001, Tamil Nadu, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
32, Khader Nawaz Khan Road, Nungambakkam, Chennai – 600 034,
Tamilnadu, India |
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|
|
|
Holding Company : |
Visteon International Holdings Inc |
CAPITAL STRUCTURE
(As on 30.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity Shares |
Rs.10/- each |
Rs.1500.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
86008085 |
Equity Shares |
Rs.10/- each |
Rs.860.080
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
860.080 |
1150.002 |
1150.002 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
861.718 |
434.579 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(13.608) |
|
|
NETWORTH |
1721.798 |
1584.581 |
1136.394 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
87.010 |
751.580 |
790.000 |
|
|
2] Unsecured Loans |
8.697 |
6.074 |
551.788 |
|
|
TOTAL BORROWING |
95.707 |
757.654 |
1341.788 |
|
|
DEFERRED TAX LIABILITIES |
168.699 |
174.698 |
188.697 |
|
|
|
|
|
|
|
|
TOTAL |
1986.204 |
2516.933 |
2666.879 |
|
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|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
939.390 |
1215.190 |
1339.851 |
|
|
Capital work-in-progress |
1.664 |
14.114 |
28.567 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
773.457
|
837.966 |
1064.303 |
|
|
Sundry Debtors |
714.993
|
1022.725 |
608.791 |
|
|
Cash & Bank Balances |
189.144
|
164.795 |
486.733 |
|
|
Other Current Assets |
0.047
|
0.684 |
0.755 |
|
|
Loans & Advances |
98.620
|
100.894 |
86.918 |
|
Total
Current Assets |
1776.261
|
2127.064 |
2247.500 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
668.294
|
724.440 |
901.115 |
|
|
Provisions |
62.817
|
114.995 |
47.924 |
|
Total
Current Liabilities |
731.111
|
839.435 |
949.039 |
|
|
Net Current Assets |
1045.150
|
1287.629 |
1298.461 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1986.204 |
2516.933 |
2666.879 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.48
|
1.01 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.43
|
2.53 |
2.37 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
|
Corporate
identity number of the company |
U35911TN1997PTC037783 |
|
Name of the
company |
COMSTAR AUTOMOTIVE TECHNOLOGIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Keelakaranai Village, Malrosapuram Post, Chengal, Pattu – 603 204,
Tamilnadu, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Book debts ·
Others |
|
Particular of
charge holder |
Standard Chartered Bank 19, Rajaji Salai, Chennai – 600 001, Tamil Nadu, India |
|
Nature of
instrument creating charge |
Unattested
Memorandum of Hypothecation |
|
Date of
instrument Creating the charge |
09.05.2008 |
|
Amount secured by
the charge |
Rs.195.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest At the rate as
negotiated with and agreed by the Bank, Payable monthly in arrears. Terms of
repayment ·
Unless
otherwise agreed in writing by the bank, the facility and all outstandings
thereunder, together with all charges payable in respect thereof, will be
repaid by the customer to the bank on the respective due dates of the
facility. ·
Any
prepayment or part prepayment of the facility may be allowed only with the
prior written permission of the bank and will be subject to the conditions
stipulated by the bank including payment of prepayment charges stipulated by
the bank. Margin Advance not to
exceed 75% of stocks and book-debts Extent and
operation of the charge First pari passu
hypothecation charge on all present and future ·
Book debts,
outstandings moneys receivables, claims and bills as detailed in Schedule to
the Memorandum ·
Stock in
trade consisting of raw materials, finished goods, goods in process of manufacturing
as detailed in Schedule to the memorandum Others Terms and
conditions as specified on the Letter of Sanction dated 28.02.2008 and
Unattested Memorandum of hypothecation dated 09.05.2008 |
|
Particulars of
the property charged |
All present and
future stocks and Book debts situated at Keelakaranai Village, Malrosapuram
Post, Maraimalai Nagar, Chengalpattu or any other place. |
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.44.37 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.63.41 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|