MIRA
INFORM REPORT
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Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
PLASTENE INDIA LIMITED |
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Formerly Known As : |
OSWAL AGLOIMPEX PRIVATE LIMITED |
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Registered Office : |
HB Jariwala House, 132 Nav Bharat Society, Usmanpura,
Ahmedabad-380013. Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.10.1998 |
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Com. Reg. No.: |
04-34861 |
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CIN No.: [Company
Identification No.] |
U25209GJ1998PLC034861 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RKTO00008B |
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PAN No.: [Permanent
Account No.] |
AAACO3087C |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturer of HDPE Woven Sacks, PP Woven Sacks, PP Fabrics, PE
Fabric Laminated films and Garbage bags and bags |
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 1200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a part of Champalal Group, a medium-sized group Gujart,
India. Trade relations are fair. Business is active. General financial position
is satisfactory. Payments are reported as usually correct and as per
commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Jayesh |
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Designation : |
Company Secretary |
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Date : |
10.09.2008 |
LOCATIONS
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Registered Office : |
HB Jariwala House, 132 Nav Bharat Society, Usmanpura,
Ahmedabad-380013. Gujarat, India |
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Tel. No.: |
91-79-27561000 |
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Fax No.: |
91-79-27551764 |
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E-Mail : |
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Website : |
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Factory : |
Survey No. 317/ 1 Nanichirai, Kutch Gujarat-370140, India |
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Mobile No.: |
91-9879206895 |
DIRECTORS
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Name : |
Mr. Ranjeet Mal Kastia |
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Designation : |
Additional Director |
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Address : |
First Floor, A-147, New Friends Colony, New Delhi-110065, India |
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Date of Birth/Age : |
10.10.1941 |
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Date of Appointment : |
20.10.2006 |
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Name : |
Mr. Saurabh Ghanshyam Amin |
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Designation : |
Additional Director |
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Address : |
Ship Park Society, Usmanpura, Ahmedabad-380013, Gujarat, India |
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Date of Birth/Age : |
14.09.1973 |
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Date of Appointment : |
25.11.2006 |
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Name : |
Mr. Prakash Hiralal Parekh |
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Designation : |
Managing Director |
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Address : |
7/B, Sumati Nagar Society, Usmanpura, Ahmedabad-380013, Gujarat, India |
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Date of Birth/Age : |
26.09.1973 |
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Date of Appointment : |
08.09.2004 |
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Name : |
Mr. Chmpalal G Parekh |
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Designation : |
Chairman |
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Address : |
Plot No. 131, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Name : |
Mr. Gyanchand Singh |
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Designation : |
Director |
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Name : |
Mr. Parvesh Chanr Suri |
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Designation : |
Director |
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Name : |
Mr. Pathic Shah |
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Designation : |
Director |
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Name : |
Mr. Kushalraj G Parekh |
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Designation : |
Director |
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Address : |
168, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Date of Appointment : |
16.10.1998 |
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Name : |
Mr. Mukesh R Parekh |
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Designation : |
Director |
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Address : |
168, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Date of Appointment : |
16.10.1998 |
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Name : |
Mr. Deepak H Parekh |
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Designation : |
Director |
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Address : |
175, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Date of Appointment : |
16.10.1998 |
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Name : |
Mr. Pritesh K Parekh |
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Designation : |
Director |
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Address : |
168, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Date of Appointment : |
16.10.1998 |
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Name : |
Mr. Dhanpat C Parekh |
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Designation : |
Director |
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Address : |
124, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Date of Appointment : |
23.11.1998 |
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Name : |
Mr. Ratanlal G Parekh |
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Designation : |
Director |
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Address : |
Plot No. 168, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Date of Appointment : |
08.09.2004 |
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Name : |
Mr. Ashok C Parekh |
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Designation : |
Director |
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Address : |
Plot No. 178, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Date of Appointment : |
08.09.2004 |
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Name : |
Mr. Shantilal C Parekh |
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Designation : |
Director |
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Address : |
Plot No. 183, Sector-4, Gandhidham, Kutch-370201, Gujarat, India |
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Date of Appointment : |
08.09.2004 |
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Name : |
Mr. Mahavir R Parekh |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Kaushik Balabhai Kapadia |
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Designation : |
Secretary |
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Address : |
104, Kalrav Appartment, Ashok Nagar, New Vikas Gruh Road, Paldi,
Ahmedabad-380006, Gujarat, India |
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Date of Birth/Age : |
13.02.1954 |
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Date of Ceasing : |
08.07.2008 |
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Mobile No. : |
91-9909032523 |
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Name : |
Mr. Jayesh Ravijbhai Patel |
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Designation : |
Secretary |
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Address : |
53, Darshan Bunglows, Opposite Bopal Gram Panchayat, Bopal,
Ahmedabad-380058, Gujarat, India |
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Date of Birth/Age : |
14.07.1976 |
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Date of Appointment : |
01.08.2008 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Kushalraj Parekh |
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49900 |
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Mukesh Parekh |
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49900 |
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Deepak Parekh |
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7400 |
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Pritesh Parekh |
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16300 |
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Mamta Parekh |
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11000 |
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Suman Parekh |
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6000 |
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Champalal G Parekh |
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49900 |
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Ratanlal G Parekh |
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49900 |
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Ratanlal G Parekkh |
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10000 |
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Ashok C Parekh |
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49900 |
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Jashodadevi R Parekh |
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10000 |
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Leeladevi Parekh |
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10000 |
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Geetadevi Parekh |
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10000 |
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Dhanpat C Parekh |
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49900 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Bodies corporate (not mentioned above) |
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45.89 |
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Directors or relatives of directors |
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37.99 |
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Other top fifty (50) shareholders (other than listed above) |
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16.11 |
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Others |
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0.01 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of HDPE Woven Sacks, PP Woven Sacks, PP Fabrics, PE Fabric
Laminated films and Garbage bags and bags |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C Credit |
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Purchasing : |
L/C and Credit ( 60-90 Days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
2200 (Office 200, Factory 2000) |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bhanwar Jain and Company Chartered Accountant |
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Address : |
302, Kaling Complex, Near Mount Carmel School, Ashram Road,
Ahmedabad-380009, Gujarat, India |
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Group Concern : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 27.07.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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16000000 |
Equity Shares |
Rs. 10/- each |
Rs. 160.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10992475 |
Equity Shares |
Rs. 10/-
each |
Rs. 109.925
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 |
109.925 |
14.332 |
13.104 |
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2] Share Application Money |
0.000 |
1.290 |
0.000 |
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3] Reserves & Surplus |
143.918 |
129.165 |
84.204 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
253.843 |
144.787 |
97.308 |
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LOAN FUNDS |
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1] Secured Loans |
450.255 |
339.848 |
222.338 |
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2] Unsecured Loans |
9.112 |
7.898 |
3.900 |
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TOTAL BORROWING |
459.367 |
347.746 |
226.238 |
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DEFERRED TAX LIABILITIES |
9.034 |
11.809 |
0.799 |
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TOTAL |
722.244 |
504.342 |
324.345 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
334.542 |
314.009 |
5.489 |
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Capital work-in-progress |
94.638 |
25.374 |
263.869 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
94.666
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108.877 |
13.998 |
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Sundry Debtors |
159.975
|
66.648 |
10.307 |
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Cash & Bank Balances |
33.767
|
6.771 |
0.815 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
280.134
|
66.779 |
45.413 |
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Total
Current Assets |
568.542
|
249.075 |
70.533 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
275.282
|
80.678 |
15.669 |
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Provisions |
1.920
|
3.537 |
0.000 |
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Total
Current Liabilities |
277.202
|
84.215 |
15.669 |
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Net Current Assets |
291.340
|
164.860 |
54.864 |
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MISCELLANEOUS EXPENSES |
1.724 |
0.098 |
0.123 |
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TOTAL |
722.244 |
504.342 |
324.345 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
1568.868 |
751.945 |
119.095 |
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Other Income |
3.166 |
14.415 |
0.194 |
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Total Income |
1572.034 |
766.360 |
119.289 |
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Profit/(Loss) Before Tax |
217.844 |
35.075 |
1.365 |
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Provision for Taxation |
8.855 |
3.300 |
0.380 |
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Profit/(Loss) After Tax |
208.989 |
31.775 |
0.985 |
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Earnings in Foreign Currency : |
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Export Earnings |
67.720 |
107.936 |
53.037 |
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Expenditures : |
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Raw Material Consumed |
1125.460 |
610.801 |
46.835 |
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Purchases made for re-sale |
15.216 |
55.159 |
48.688 |
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Consumption of stores and spares parts |
10.049 |
5.109 |
0.098 |
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Increase/(Decrease) in Finished Goods |
[30.035] |
[78.622] |
3.943 |
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Salaries, Wages, Bonus, etc. |
31.293 |
23.082 |
1.906 |
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Managerial Remuneration |
0.900 |
0.000 |
0.000 |
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Payment to Auditors |
0.127 |
0.097 |
0.039 |
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Interest |
54.755 |
28.785 |
1.884 |
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Insurance Expenses |
2.997 |
2.268 |
0.163 |
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Power & Fuel |
57.946 |
36.844 |
3.044 |
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Depreciation & Amortization |
17.620 |
14.628 |
0.518 |
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Other Expenditure |
67.862 |
33.134 |
10.806 |
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Total Expenditure |
1354.190 |
731.285 |
117.924 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
13.29
|
4.14 |
0.82 |
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Net Profit Margin (PBT/Sales) |
(%) |
13.89
|
4.66 |
1.15 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
24.12
|
6.23 |
1.79 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.86
|
0.24 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.90
|
2.98 |
2.48 |
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Current Ratio (Current Asset/Current Liability) |
|
2.05
|
2.95 |
4.50 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
OSWAL AGLOIMPEX PRIVATE LIMITED |
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Presented By |
Dhanpat Parekh,
Director |
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1) Date and description of instrument creating the change |
21.12.2004
Memorandum of Entry for Equitable Mortgage |
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2) Amount secured by the charge/amount owing on the securities of charge |
1) State Bank of
Saurashtra a) Cash credit
Facility Rs. 40.000 Millions b) Export Packing
Credit Rs. (14.000 Millions) c) Medium Term
Loan Rs. 100.000 Millions 1) State Bank of
Indore: a) Cash Credit
Facility Rs. 40.000 Millions b) Export Packing
Credit Rs. ( 40.000 Millions) c) Letter of
Credit Rs. 20.000 Millions d) Term Loan Rs.
90.000 Millions Total Rs. 290.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
First Charge by
Deposit of title deeds of the immovable properties of the Company’s plastic
Woven sacks division situated at Plot No. 1/317 of Village Nani Chirai, Tal
Bhachau, Kutch and Building constructed thereon and Plant and Machinery
affixed therein with all fixtures and fittings. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1. State Bank of
Saurashtra: a) Cash Credit Margin: Raw Material 25% Book Debts 50% Finished Goods
25% Stock in Process
25% Imported raw
material 10% Interest: @1.75%
below BPLR i.e. 9% b) Export Packing
Crdit: Margin 10% Margin 10% Interest: a) @ BPLR- 3.75 (at
present 7.25% p.a.) if the respective documents are tendered to the Bank
within 180 days from the date of grant of Export Packing credit b) @ BPLR-1.00%
(at present 10.00%) beyond 189 days and upto 270 days c)@ 2% above the
rate applicable to Cash crdit accounts for the Entire duration EPC Advance,
if export do not materialize for any Reason. C) Medium Term
Loan Interst: @ 2%
below BPLR i.e. 9% p.a (floating) with monthly rests Period: Repayable
in 24 quarterly installments after moratorium of 18 months form the date of
first disbursement Margin: 37.94% 2. State Bank of
Indore a) Cash Credit : Margin: Raw Material 25% Imoported Raw
Material 10% Book Debts 50% Finished Goods
25% Stock in Process
25% Interest:
@1.75%below BPLR i.e. 9% b) Export Packing
Credit: Margin: 10% Interst: a) 3.40% below
BPLR 7.35% p.a. for
180 days b) 0.75% below
BPLR 10% for >180
days upto 270 days c) Letter of
Credit : Margin: 25% in
cash or by way of TDR/ STD Rs. Duly lien noted/ Discharge Commission :As
per FEDAI Rules D) Medium Term
Loan: Interest: @ 1.75%
below BPLR i.e. 9% p.a Period Repayable in 24
quarterly Installments
after Moratorium of 12
months Form the date of
first disbursement Margin: 36.67% |
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5) Name and Address and description of the person entitled to the charge. |
Consortium SBS
comprised of : 1) State Bank of
Saurashtra, Gandhidham Branch, Gandhidham (Lead Bank) 2) State Bank of
Indore, Gandhidam Branch, Gandhidam |
|
6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U25209GJ1998PLC034861 |
|
Name of the
company |
PLASTENE INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
HB Jariwala House, 132 Nav Bharat Society, Usmanpura,
Ahmedabad-380013. Gujarat, India |
|
Type of charge |
Movable Property |
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Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel,
West, Mumbai-400013, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Agreement for
loan and Guarantee (Contact No. 3188287) |
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Date of
instrument Creating the charge |
04.02.2008 |
|
Amount secured by
the charge |
Rs. 0.693
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interst @ 11.38%
p.a On delay in the
repayment of interest and/ or any other repayment by the Company beyond such
reapayment due date the bank shall be entitled ot charge an additional
interest @ 2% p.m or such other rate as may be specified by the Bank from
time to time on the entire such outstanding amount due to the bank Terms of
Repayment The Loan is repayable
in 35 EMIs of Rs. 0.023 Millions sarting form 15th February, 2008
and ending on 15th December, 2010 Margin As may be
stipulated by bank from time to time. Extent and
Operation of the charge The company
hypothecates to and charges in favour of the bank by way of first and
exclusive charge of the equipments described in item No. 14 as security for
the repayments by the company of the loan granted or ot be granted to the
company by the bank together with all fees, interest, costs and expenses incurred/
to be incurred by the bank an all other monies payable or to become payable
by the company to the Bank Others The bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed agaist the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any third
party of the bank’s choice without referebces to or without written
intimation to the company. |
|
Short particulars
of the property charged |
Hypothecation of
Commercial Vehicle namely, Maker and Mode: ACE 1.5 + Battery Operated Fork
Lift Truck (Year of Manufacture: 2007), Engine no. E270263 |
AS PER WEBSITE
Profile:
Subject, is a mega project started by group in 2004. They are having
21000 MT per annum installed capacity of Flexible Packaging Products. They are based
in Gandhidham (very close to Kandla Port) in Gujarat State, India.
Today, The company is on the verge to become the biggest manufacturer of
Flexible Intermediate Bulk Container FIBC & Woven Bags in India. The client
base includes top 10 manufacturers of Fertilizer & Cement. They are also
manufacturing a Multilayer & Monolayer Co-extruded film with most advanced
technology. Beside this, they are manufacturing Tarpaulin, Garbage bags, LDPE
Film & reprocessed granules. Today after 2 years of its establishment,
Plastene India Limited is India's biggest Plastic Packaging House where
solution for the packaging applications is provided as per customer's
expectation. The confidence is the buyer's trust in the quality. The process is
approvd by ISO 9002.
They are operating with production capacity of 21000 MT per annum &
they are expanding same up to 55000 MT by end of the year 2008
Looking Ahead: It's where the crystal ball normally comes out and lofty
predictions are generally made. At Plastene, however, the future is not what
the company is going to do. They work with a belief that the company is already
doing that will bear fruition at a later date. In other words “The future has
already begun”
It is the objective to achieve the cost leadership by focusing on to
achieve maximum operational efficiency and achieve best customer satisfaction
and in turn let the partners in growth enjoy the benefit in years to come.
They have installed latest design high speed tape extrusion lines from
Lohia starlinger Limited having special features like maag geared melt pump
specially imported from Switzerland , CLOREN DIE specially imported from USA ,
high speed godets , bigger length hot air ovens , inverter driven cheese
WINDERS which will help us to deliver bags at the preferred destination with
following advantages with minimum weight variation and better uniform strength.
Equipped PLC based weaving looms having color and magnetic sensor
incorporated in the machine, which ensures defect free high quality woven bags.
Today, company enjoys leadership in terms of Woven bags market. The
products & services are widely appreciated by the domestic & overseas
clients. They are committed to work very closely with the customer by providing
packaging solution as per their requirement.
"For information about The PRODUCTS & SERVICES, please click on
PRODUCT link on top of the page & click on each product picture for detail
information. To answer the questions, fill up the enquiry form & click on
SUBMIT"
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheces
including but not limited to: The Cthets, India Prisons Service,
Interpol, etc.
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.45.12 |
|
UK Pound |
1 |
Rs.79.60 |
|
Euro |
1 |
Rs.63.83 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
58 |
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 |
|