MIRA
INFORM REPORT
|
Report Date : |
10.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
PANASONIC INDIA PRIVATE LIMITED (w.e.f. 03.10.2008) |
|
|
|
|
Formerly Known
As : |
PANASONIC SALES AND SERVICES INDIA PRIVATE LIMTIED |
|
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Registered
Office : |
6th Floor, SPIC Building, Annex 88, Mount Road, Guindy,
Chennai-600032, Tamilnadu |
|
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2010 |
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|
Date of
Incorporation : |
14.07.2006 |
|
|
|
|
Com. Reg. No.: |
18-060554 |
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Capital
Investment / Paid-up Capital : |
Rs. 1700.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51395TN2006PTC060554 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEP08735G |
|
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PAN No.: [Permanent Account No.] |
AADCP9391B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the business of trading and marketing
consumer electronics goods. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6500000 |
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|
Status : |
Slow but correct |
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Payment Behaviour : |
Moderate |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Panasonic Holding (Netherland) B.V.,
Netherland. It is an established company having moderate track. There appears some
accumulated losses recorded by the company. However with some improvement in
the financial position, the company can wipe off those losses in near future.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
6th Floor, SPIC Building, Annex 88, Mount Road, Guindy,
Chennai-600032, Tamilnadu, India |
|
Tel. No.: |
91-44-22301952 |
|
Fax No.: |
91-44-22301951 |
|
E-Mail : |
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Consumer Sales
Division : |
1st Floor, ABW Tower, IFFCO Chowk, MG Road, Sector 25, Gurgaon
– 122001, Haryana, India |
|
Tel. No.: |
91-124-4596600 |
DIRECTORS
AS ON 29.09.2010
|
Name : |
Mr. Hindenori Aso |
|
Designation : |
Managing Director |
|
Address : |
Flat No.2A, PGP Manor, No.41, Barnaby Road, Kilpauk, Chennai-600010, Tamil
Nadu, India |
|
Date of Birth/Age : |
11.07.1959 |
|
Date of Appointment : |
14.07.2006 |
|
DIN No.: |
00158246 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
L30007TN1988PLC016184 |
PANASONIC
HOME APPLIANCES INDIA COMPANY LIMITED |
Managing
director |
01-08-09 |
02-07-01 |
- |
Active |
NO |
|
2 |
U32301TN1997PTC038351 |
MATSUSHITA
AIR-CONDITIONING INDIA PRIVATE LIMITED |
Director |
25-09-03 |
25-09-03 |
25-08-10 |
Under
liquidation |
NO |
|
3 |
U51395TN2006PTC060554 |
PANASONIC
INDIA PRIVATE LIMITED |
Managing
director |
25-07-08 |
14-07-06 |
15-03-11 |
Active |
NO |
|
Name : |
Mr. Arjun Balakrishnan |
|
Designation : |
Whole Time Director |
|
Address : |
51, Bishops Garden, Greenways Road, Chennai-600028, Tamilnadu, India |
|
Date of Birth/Age : |
05.06.1967 |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
01023088 |
|
|
|
|
Name : |
Mr. Masao Okawa |
|
Designation : |
Director |
|
Address : |
34, Tanah Merah Kechil Road, #09-31, East Meadows, Singapore-465560 |
|
Date of Birth/Age : |
09.09.1958 |
|
Date of Appointment : |
28.05.2010 |
|
DIN No.: |
02216308 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL1994PTC060017 |
PANASONIC
CONSUMER INDIA PRIVATE LIMITED |
Managing
director |
29-09-08 |
02-05-08 |
Active |
NO |
|
2 |
U51395TN2006PTC060554 |
PANASONIC
INDIA PRIVATE LIMITED |
Director |
29-09-10 |
28-05-10 |
Active |
NO |
|
Name : |
Mr. Daizo Ito |
|
Designation : |
Whole Time Director |
|
Address : |
C/21002, Uniworld City, Sector-31, Gurgaon-122001, Haryana, India |
|
Date of Birth/Age : |
27.02.1959 |
|
Date of Appointment : |
30.10.2008 |
|
DIN No.: |
02429688 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U51395TN2006PTC060554 |
PANASONIC
INDIA PRIVATE LIMITED |
Whole-time
director |
07-09-09 |
30-10-08 |
Active |
NO |
|
2 |
U74899DL1996PLC077330 |
PANASONIC
AVC NETWORKS INDIA COMPANY LIMITED |
Director |
17-09-10 |
30-03-10 |
Active |
NO |
|
Name : |
Mr. Noriyuki Hatano |
|
Designation : |
Whole Time Director |
|
Address : |
F1-1101, Uniworld City, Sector-30, Gurgaon-122002, Haryana, India |
|
Date of Birth/Age : |
10.07.1961 |
|
Date of Appointment : |
29.09.2010 |
|
DIN No.: |
03295895 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2010
|
Names of Shareholders |
No. of Shares |
|
Panasonic Holding (Netherland) BV, Netherland |
300799999 |
|
Panasonic Asia Pacific Pte. Limited, Singapore |
1 |
|
Total |
300800000 |
AS ON 29.09.2010
|
Equity Shares
Break Up |
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 : |
The Company is engaged in the business of trading and marketing
consumer electronics goods. |
|
|
|
|
Brand |
“PANASONIC” |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Standard Chartered Bank, 19, Rajaji Salai,
Chennai-600001, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
S Sethuraman BSR and Company Chartered Accountant |
|
Address : |
No.10, Mahatma Gandhi Road, Numgambakkam, Chennai-600034, Tamilnadu,
India |
|
Tel. No.: |
91-44-39145000 |
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Fax No.: |
91-44-39145999 |
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PAN No. : |
AAAFB9852F |
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Holding Company : |
Ř Panasonic
Holding (Netherland) BV, Netherland |
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Ultimate Holding : |
Ř Panasonic Corporation
(formerly known as Matushita Electric Industrial Company Limited, Japan) |
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|
Fellow Subsidiaries : |
Ř Panasonic Asia
Pacific Pte. Limited, Singapore Ř Panasonic AVC
Networks India Company Limited Ř Panasonic
Marketing Middle East Ř Panasonic Industrial
Asia Pte Limited Ř Panasonic
Malaysia Sdn Bhd. Ř Panasonic System
Asia Pacific Pte Limited Ř Panasonic
Automotive System Asia Pacific Company Limited, Thailand Ř Panasonic Siew
Sales (Thailand) Ř Panasonic Home
Appliances India Company Limited Ř Panasonic Consumer
India Private Limited Ř Panasonic
Marketing Europe GMBH Ř Panasonic HA
Air-Conditioning (M) Sdn Bhd Ř Panasonic AVC
Network Singapore Ř Panasonic Home
Appliances Corporation Limited, Thailand Ř Panasonic
Australia |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170000000 |
Equity Shares |
Rs.10/- each |
Rs. 1700.0000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
170000000 |
Equity Shares |
Rs.10/- each |
Rs. 1700.000
Millions |
|
|
|
|
|
Note:
Of the above 169999999 equity shares of Rs.
10/- each are held by Panasonic Holding (Netherland) BV and one equity share of
Rs. 10/- each by Panasonic Asia Pacific Pte. Limited.
Panasonic Corporation, Japan (formerly known
as Matsushita Electric Industrial Company Limited, Japan) is the Ultimate
Holding Company.
AS ON 29.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300800000 |
Equity Shares |
Rs.10/- each |
Rs. 3008.0000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300800000 |
Equity Shares |
Rs.10/- each |
Rs. 3008.0000 Millions |
|
|
|
|
|
AFTER 29.09.2010
Authorised Capital : Rs. 7738.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 7738.000 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1700.000 |
600.000 |
600.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(72.356) |
(132.505) |
(135.191) |
|
|
NETWORTH |
1627.644 |
467.495 |
464.809 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
129.166 |
440.000 |
0.000 |
|
|
2] Unsecured Loans |
350.000 |
420.000 |
0.000 |
|
|
TOTAL BORROWING |
479.166 |
860.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2106.810 |
1327.495 |
464.809 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
88.722 |
8.989 |
12.377 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
75.006 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1220.900
|
1115.146 |
482.130 |
|
|
Sundry Debtors |
1635.927
|
468.348 |
168.602 |
|
|
Cash & Bank Balances |
224.781
|
34.808 |
100.615 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
313.711
|
555.750 |
89.926 |
|
Total
Current Assets |
3395.319
|
2174.052 |
841.273 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1298.271
|
764.435 |
343.511 |
|
|
Other Current Liabilities |
72.562
|
50.464 |
24.003 |
|
|
Provisions |
81.404
|
40.647 |
21.327 |
|
Total
Current Liabilities |
1452.237
|
855.546 |
388.841 |
|
|
Net Current Assets |
1943.082
|
1318.506 |
452.432 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2106.810 |
1327.495 |
464.809 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
11190.282 |
4087.174 |
2020.130 |
|
|
|
Other Income |
9.372 |
1069.714 |
358.646 |
|
|
|
TOTAL (A) |
11199.654 |
5156.888 |
2378.776 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
11136.571 |
5095.093 |
2456.825 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL
(B) |
11136.571 |
5095.093 |
2456.825 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
63.083 |
61.795 |
(78.049) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
12.159 |
46.636 |
3.191 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
50.924 |
15.159 |
(81.240) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.857 |
8.682 |
9.362 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
38.067 |
6.477 |
(90.602) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(22.081) |
3.791 |
2.452 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
60.148 |
2.686 |
(93.054) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
60.148 |
2.686 |
(93.054) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Advertisement and Sales Promotion Support |
1346.029 |
670.537 |
306.338 |
|
|
|
Administration Support Income |
7.787 |
3.286 |
1.254 |
|
|
|
Price Support |
7.948 |
7.142 |
0.000 |
|
|
|
Service Income |
0.000 |
0.000 |
5.747 |
|
|
TOTAL EARNINGS |
1361.764 |
680.965 |
313.339 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading Goods |
3492.527 |
1470.701 |
629.667 |
|
|
|
Capital Goods |
0.444 |
0.000 |
0.211 |
|
|
TOTAL IMPORTS |
3492.971 |
1470.701 |
629.878 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.35 |
0.04 |
(1.55) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.54
|
0.05 |
(3.91) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.34
|
0.16 |
(4.48) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.07
|
0.30 |
(10.61) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.34
|
0.01 |
(0.19) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.19
|
3.67 |
0.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.34
|
2.54 |
2.16 |
LOCAL AGENCY FURTHER INFORMATION
BACKGROUND
Subject has been incorporated on 14th July 2006 as a fully
owned subsidiary of Panasonic Holding (Netherlan) B.V. The Company is engaged
in the business of trading and marketing consumer electronics goods under brand
name “Panasonic” in India.
PERFORMANCE
Panasonic has
shown a healthy upward swing during the period and the company has also
improved its Sales figures.
In 2008-09, Sales
was INR 4087 Million, while in 2009-10, they posted sales of Rs. 11190.282
Millions
During this period
the company focused on expanding the range of products in India such as
a.) Viera range of
LCD and Plasma televisions
b.) Lumix range of
Camera’s
c.) High end
refrigerators
d.) Energy
efficient split air-conditioners and Casettes
e.) Washing
Machines
f.) Car Audio and
Visual Systems
g.) Accessories
and Home theatre Systems.
In terms of
profit, the company achieved a profit of Rs. 60.148 Millions during the period
No Material change
subsequent to the close of the Financial year has occurred.
FUTURE PROSPECTS
Panasonic has identified
India as a major part of their BRIC’s strategy and is committed to growth and
development in India. Panasonic has embarked on aggressive sales campaigns with
a thrust on developing the Brandshop channel. Notwithstanding this, Panasonic
will strive to bring to the Indian consumer an increasing array of products
from their famed stable. In short the company continues to remain bullish and
will make the necessary investments to make Panasonic a household name in
India.
FORM 8
|
Corporate identity
number of the company |
U51395TN2006PTC060554 |
|
Name of the
company |
PANASONIC INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
6th Floor, SPIC Building, Annex 88, Mount Road, Guindy, Chennai-600032, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Standard Chartered Bank, 19, Rajaji Salai, Chennai-600001, Tamilnadu,
India |
|
Nature of
instrument creating charge |
Supplemental to
unattested memorandum of hypothecation (For decrease in limit) |
|
Date of
instrument Creating the charge |
24.03.2010 |
|
Amount secured by
the charge |
Rs. 500.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As may be
negotiated and agreed to by the Bank from time to time Terms of repayment 1. Working
capital demand loan - 365 days 2. Overdraft-
Maximum up to 1 day Margin As may be
negotiated and agreed to by the Bank from time to time Extent and operation of the charge First pari passu
hypothecation charge on stocks and book debts Other Faculties: 1. Working
capital demand loan - Rs.500.000 millions 2. Overdraft
(sub-limit) - (Rs.320.000 millions) |
|
Short particulars
of the property charged (Including location of the property) |
Present/ future
stocks in trade consisting of raw materials, finished goods, goods in the
process of manufacturing and other merchandise Location of stock
in trade - Chennai, Hyderabad, Cochin, Bangalore, Ahmedabad, Zirkpur,
Ghaziabad, Delhi, Kolkata, Bhiwandi, Jaipur, Dehradun and Panankula or any
other place. Present/ future
book debts, out standings, moneys receivable, claims and bills |
|
Charge
identification number of the charge to be modified |
10028360 |
|
Date of
instrument modifying the charge |
20.11.2008 |
|
Particulars of
the present modification |
1. Credit facilities
by way of working capital facilities reduced from Rs.800.000 millions to
Rs.500.000 millions 2. First pari
passu hypothecation charge over stocks and book debts to cover the reduced
limits. |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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. 52.22 |
|
|
1 |
Rs. 81.54 |
|
Euro |
1 |
Rs. 69.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.