MIRA
INFORM REPORT
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Report Date : |
06.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NASH INDUSTRIES |
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Registered Office : |
No. 236-237/2, 8th
Main, 3rd Cross, 2nd Phase, Peenya Industrial Area,
Bangalore – 560 058, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Year of Establishment : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRN01605C |
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PAN No.: [Permanent
Account No.] |
AACFN8881E |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturer,
Exporter and Importer of Sheet Metal Stampings and Assemblies. |
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 750000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The time
management required non-cooperative and hence this report is based on
indirect sources of information. Subject is a well
– established concern having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are correct and as per
commitments. The concern can
be considered good for normal business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
No. 236-237/2, 8th
Main, 3rd Cross, 2nd Phase, Peenya Industrial Area,
Bangalore – 560 058, Karnataka, India
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Tel. No.: |
91-80-41179024/ 41179150/ 41136272/ 41272484/ 23382624/ 23402809 |
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Fax No.: |
91-80-28391235/
3501859 |
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E-Mail : |
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Website : |
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Area : |
27000 Sq. ft. |
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Location : |
Rented |
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Factory : |
50, Madhanayakanahalli Dasanapura, Hobli, Tumkar Road, Bangalore – 560
058, Karnataka, India |
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Tel. No.: |
91-80-23382624 |
PARTNERS
|
Name : |
Mr. Sanjay S
Wadhwa |
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Designation : |
Partner |
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Date of Birth/Age : |
38 Years |
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Qualification : |
B.E. |
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Experience : |
10 Years |
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Name : |
Mr. Sandeep R
Wadhwa |
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Designation : |
Partner |
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Date of Birth/Age : |
35 Years |
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Qualification : |
B.E. |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Exporter and Importer of Sheet Metal Stampings and Assemblies. |
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Products : |
v
Deep Drawn
Components v
Clips,
Clamps v
Assembles/
Sub – Assemblies v
Drawn and
Coined Components v
Turret
Punched Parts v
Progressive
Dies v
Exhaust
Parts v
Computer
Hardware v
Computer and
Power Protection v
ATM
Components v
Aerospace
Parts v
Automotive
Parts v
Large
Automotive Components |
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Exports : |
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Countries : |
v China v Phillipines v Thailand v UK v US v France |
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Imports : |
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Countries : |
v Singapore v USA v Korea |
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Terms : |
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Selling : |
Credit ( 30 days) |
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Purchasing : |
L/C, Advance |
GENERAL
INFORMATION
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Suppliers : |
Ż
Kavarin
Enterprises, Singapore Ż
Captive
Fasteners, US Ż
Tata Iron
and Steel Company |
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Customers : |
v Wholesalers v End Users v OEM’s Ż
American
Power Conversion India Private Limited Ż
General
Electric India and US Ż
Hewlett
Packards India Limited |
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No. of Employees : |
250 |
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Bankers : |
v State Bank of
India Commercial Branch, Rajajinar,
Bangalore – 560 044, Karnataka, India |
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Facilities : |
Credit Limit –
Rs. 70.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Narasimhamurthy
and Company Chartered
Accountant |
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Associates/Subsidiaries : |
Ż
Nash Product Ż
Secop
Industries Ż
Precision
Product |
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Sister Concerns : |
v Mark Industries |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 150.000
Millions |
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Borrowed : |
-- |
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Total : |
Rs. 150.000
Millions |
FINANCIAL DATA
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Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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USD 6.500 |
US$ 3.000
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Export Value |
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US$ 5.500 |
US$ 2.500 |
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Import Value |
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US$ 6.500 |
US$ 3.000 |
Inventories - US $
0.500
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
PPC -
Bangalore
v
NCR - Pondicherry
As Per Website Details
History
Established in the year 1971 with its first site at NASH Products Bangalore, India, Nash has been admired for its performance and spirit to innovate and has firmly established its credentials putting it on a steady growth path. This has led to the establishment of four more facilities, which were required to take care of the growing needs of customers.
Innovation is about knowledge, engineered with decades of
experience. Nash's domain knowledge skills in Component Manufacturing stems
from years of providing high quality engineering solutions to global clients.
Over the past 35 years, they have been constantly engaged in turning imaginative ideas into leading engineering solutions while upgrading both in terms of adding technology as well as quality systems. This has ensured that the customer gets a consistent quality product delivered to him at a competitive price.
Subject is the source for quality
component manufacturing. From assemblies to sheet metal pressed components,
they have the capability to manufacture a wide range of components and
assemblies. They have invested, and continue to invest in state-of-the-art
equipment and technology in order to provide the highest quality and service to
their customers. For years, we've helped OEMs maximize time to market
objectives while minimizing procurement, materials management, and
manufacturing costs.
Their products can be found in some of the
most complex assemblies in industries ranging from the automotive sector to
aerospace.
Their Engineering solutions start with world-class
products, which are designed, developed, and manufactured in-house at their
state-of-the-art facilities. The products are
a direct result of the constant
innovation at their labs. This innovation-driven R&D strategy, together
with an extensive experience in the field, has enabled Nash's products
benchmark quality standards and
earned the trust of clients worldwide.
The
services and products include:
- Design
- Prototyping
- Tooling
- Stamping
- Value-added assembly services
They specialize in the design and fabrications of multi-stage
progressive tools that are used in automated stamping processes and enable the
manufacture of higher precision, consistent, higher capacity and cost-competitive
metal stamping products.
Innovation in diversity and the drive for
excellence place Nash in a unique and demanding niche in today's market. They
have the depth and breadth of expertise in the successful
application of customized, engineered and special purpose sheet metal based
aggregates. Their customers come to us for innovation that helps them jump the
competition curve.
The Nash Advantage
· Full fleged in-house tool
room facility with focus on innovation
· One of the Largest Press Shop in India
· Over 30 years experience in the industry
· Advanced Processes
· World class Infrastructure
· Fully managed by engineering professionals
· Use of latest technologies e.g. ERP, JIT, CAD/CAM
At Nash, they constantly strive to develop
and apply up-to-date metal engineering technology to meet customers' rising
expectations. Products engineered by Nash can be found in some of the most
complex assemblies in industries ranging from the automotive sector to
aerospace.
Their professionals are constantly meeting the
exciting challenges of creating revolutionary solutions that consistently
exceed the automotive industry's ever-changing demands. They practice lean
manufacturing, which eliminates waste, streamlines processes and reduces overall
cost.
Facilities
With over 80 machines ranging from 10 ton to 400 ton and a fully equipped Tool
Room including a Wire EDM, Brazing Furnace and one of the largest Press Shops
in India; Nash has always been known for using the best-in-class equipment to
develop products of the highest quality.
Team
The team at Nash has professionals who are leading change and driving
the performance and growth of the organization. Academic qualifications that
range from management, engineering, marketing and quality, combined with a rich
experience in the industry - the team embodies the spirit of the concern;
Leading Innovation.
Management
The management team has several professionals heading Finance, Sales, Marketing, Manufacturing and Quality, HR and Product development. Spear heading this dynamic team of professionals is Sanjay Wadhwa, Managing Partner. At Nash they work together seamlessly to deliver benefits to the customers. The way of doing business is values-based, leadership-driven and performance-oriented.
Team
Members:
Sanjay Wadhwa : Managing Partner - A qualified engineer with
a BE in Industrial Production Engineering. Also qualified in Press Tool Design
from NTTF, a reputed tool-room-training institute on a one-year training
program. Total work experience of 12 years.
Sandeep Wadhwa : Partner - Qualified BE in Industrial and
Production Engineering. Total experience of
8 years.
Arun Bhat : General Manager Operations - Qualified from
NTTF. Worked in Thailand for more than 12 years. Total experience of 16 years.
Team
The team at Nash has professionals who are leading change and driving
the performance and growth of the organization. Academic qualifications that
range from management, engineering, marketing and quality, combined with a rich
experience in the industry - the team embodies the spirit of the concern -
Leading Innovation.
They value a transparent work environment. Open communication and honest dialogue are part of the work ethic. The contributions of all employees are valued. All the differences that define each of us as unique individuals are encompassed in the diversity of the workplace.
The professionals are constantly meeting the exciting challenges of
creating revolutionary solutions that consistently exceed the automotive industry's
ever-changing demands.
Innovation
Innovations have always been one of the most important elements of the Nash business strategy with the ultimate aim being to create value. Innovations help reduce costs, increase turnover, and yield higher profits.
The Innovations are aimed at reducing costs, increasing
turnover, and yielding higher profits.
Innovation intrigues us
For the innovation is all about going that extra mile to add value to
all the products that they design and develop for the clients. It forms the
foundation of the state-of-the-art-facilities, which ensure that they leave no
stone unturned in the quest to design and develop.
Internal Innovation
There are regular drives for ideas from the team at Nash with awards for
the best ideas and best implementations. Nash’s workplace is meant to cultivate
the thirst to innovate in each mind. The teams the geared to think differently
while designing and engineering, making sure that the clients get more than
what they came for.
Quality
Today's competitive environment
leaves no room for error. The production of auto components demands a high
degree of accuracy to achieve Class-A standard finish.
At Nash they are constantly
working towards meeting the customers' needs and relentlessly look for new ways
to exceed their expectations. The integrated approach focuses on improvements
across the whole supply chain in order to meet customers' requirement and stay
relevant to their manufacturing plan.
The execution of projects at Nash
is aligned to a well-defined ISO 9001 certified Quality Management System
(QMS). The goal is to build a culture for quality in the true spirit of
improving project deliverables.
Quality Policy
"Customer's satisfaction is
the prime objective. They will achieve this through team - work and continuous
improvement methods"
Quality Objectives
Improve product quality to achieve
zero - defect through process upgradation and continuous improvement methods.
Bring awareness among employees through training programs and team oriented
methods for problem solving.
Promise of quality
Nash was built on a foundation of
quality. It is one of their core values and an important part of their brand
promise. They understand that as a global manufacturer they have a
responsibility to promote excellence in quality.
It is this quality coupled with
out thirst for innovation that ultimately produces more satisfied customers.
EHS Policy
"To maintain a system that
ensures well being of all the personnel, an atmosphere free from accidents,
prevent pollution which are detrimental to well being of the society. Each Nash
employee is empowered and responsible to comply with this policy."
The defined QMS ensures robust mechanisms and processes for:
v
Design to development and
approval
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Project planning and tracking
v
Project status reviews
v
Engineering life-cycle
activities
v
Audits
v
Configuration management and
purchase
Combining ISO-9001-certified design control, a wide source of materials, and a long history of experience, Nash can produce quality, pre-assembled subcomponents that reduce inventory, speed assembly and increase quality.
Process
At Nash they concentrate all the efforts into producing world-class products. The final outcome is the culmination of various processes that take place in the world-class facilities. They are fully equipped to execute various processes.
Sheet metal stamping, Forming, Deep Drawing or Fabrication They use presses of various tonnages, right
from 10 tons up to 400 tons. The facilities also include the deep draw presses
specifically used for drawing applications
In order to cater
to the demand of the fabrication industry and to increase the scope of work
that they do, they have added a facility for CNC turret punching as well as CNC
bending.
Materials
At Nash they use a wide
variety of materials depending on the type of product that needs to be
manufactured.
Based on customer requirement they import high quality materials such as
Cupronickel Sheets, ARCAP Sheets and Nickel Silver sheets to name a few
|
Ferrous Alloys |
Non - Ferrous
Alloys |
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Hot Dip Galvanised Steel |
Cupronickel Sheets |
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Electro Galvanised Steel |
ARCAP Sheets |
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Cold RCA Steel |
Nickel Silver |
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HR Steel |
Phosphorus Bronze |
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ST 42 Steel |
Aluminium Sheets (Various Grades) |
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IFS (Interstitial Ferrous Steel) |
Copper (ETP) |
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Stainless Steel |
Brass |
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 concern is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
The 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.
The 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 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
|