MIRA
INFORM REPORT
|
Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAMSUNG INDIA ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Suites No. 101-103, First Floor, Copia Corporate, Suites, Plot No. 9, Jasola
District Center, Delhi-110025, New Delhi. |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
03.08.1995 |
|
|
|
|
Com. Reg. No.: |
55-071387 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31900DL1995PTC071387 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELS19222A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Colour Television, Refrigerator, Microwave Oven, Air Conditioners, Washing Machine, Digital Video Disc Player, Audio – Video Systems, Stereo, Video Cassettes, Computer and Related Hardware, Tele Communication Equipment and Other Home Appliances and Equipment. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 32355000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a reputed multinational company having good track.
Financial positions of the company appears to be sound. Fundamentals are strong
and healthy. Trade relations are fair. Business is active. Payments are
reported to be usually correct as per commitments The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
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 : |
Suites No. 101-103, First Floor, Copia Corporate, Suites, Plot No. 9,
Jasola District Center, Delhi-110025, New Delhi, India. |
|
Tel. No.: |
91-124-4881234 |
|
Fax No.: |
91-124-4882021 |
|
E-Mail : |
DIRECTORS
AS ON 23.07.2010
|
Name : |
Mr. Shin Soo Jung |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
Qutab Hotel Apartment, Saheed Jeet Singh Mar, |
|
Date of Birth/Age : |
24.07.1954 |
|
Date of Appointment : |
16.04.2009 |
|
|
|
|
Name : |
Mr. Ravinder Zutshi |
|
Designation : |
Whole Time Director |
|
Address : |
7, Vikram Vihar Extn. Lajpat Nagar IV, |
|
Date of Birth/Age : |
19.12.1954 |
|
Date of Appointment : |
25.05.2005 |
|
|
|
|
Name : |
Mr. Won Taek Yang |
|
Designation : |
Whole Time Director |
|
Address : |
215 B, |
|
Date of Birth/Age : |
26.11.1958 |
|
Date of Appointment : |
25.05.2005 |
|
Date of Ceasing: |
08.01.2010 |
|
|
|
|
Name : |
Mr. Byong Dae Park |
|
Designation : |
Director |
|
Address : |
A-304, Central Park-1, Sector 42, Gurgaon-122002, |
|
Date of Birth/Age : |
14.02.1959 |
|
Date of Appointment : |
16.04.2009 |
|
|
|
|
Name : |
Mr. Kyung Hyun Jae |
|
Designation : |
Whole Time Director |
|
Address : |
1502-104, Dong Prior, Palace Apartment, AMSA Dong, Kang Dong –GU, |
|
Date of Birth/Age : |
09.02.1964 |
|
Date of Appointment : |
01.02.2010 |
|
|
|
|
Name : |
Mr. Cho Woo Kwang |
|
Designation : |
Whole Time Director |
|
Address : |
202, 786-3 (9/5), Bangbae – Dong, Seocho- Gu, |
|
Date of Birth/Age : |
19.01.1958 |
|
Date of Appointment : |
18.07.2008 |
|
|
|
|
Name : |
Mr. Jin Tong Jung |
|
Designation : |
Director |
|
Address : |
102-1205, Seongnae 1, Cha-E-Pyeonhan, Sei Sang, 598, Seongnae-Dong,
Gangdong-GU, Seoul-134060, |
|
Date of Birth/Age : |
06.07.0964 |
|
Date of Appointment : |
21.02.2008 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin Baweja |
|
Designation : |
Secretary |
|
Address : |
B-221, Sector 55, Noida-201301, |
|
Date of Birth/Age : |
26.04.1975 |
|
Date of Appointment : |
18.05.2007 |
|
Election Commission Identity Card No. |
FJF4125100 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.07.2010
|
Names of Shareholders |
|
No. of Shares |
|
Samsung Electronics Company Limited |
|
216787486 |
|
Samsung Asia Private Limited |
|
18 |
|
Total |
|
216787504 |
AS ON 23.07.2010
|
Equity share
breakup |
|
|
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 : |
Manufacturer of Colour Television, Refrigerator, Microwave
Oven, Air Conditioners, Washing Machine, Digital Video Disc Player, Audio –
Video Systems, Stereo, Video Cassettes, Computer and Related Hardware, Tele
Communication Equipment and Other Home Appliances and Equipment. |
||||||||||
|
|
|
||||||||||
|
Products : |
v Mobile Phones v TV, Video and Audio v Computers and Related Products v Home Appliances v Semiconductor v TFT LCD Modules v Telecommunication System v Fiber optics v CCTV v Compressors |
||||||||||
|
|
|
||||||||||
|
Brand Names : |
“SAMSUNG” |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
|
Unit |
|
Installed
Capacity *@ |
|
Color Televisions |
|
Nos. |
|
3840 |
|
Color Monitors |
|
Nos. |
|
720 |
|
Washing Machines |
|
Nos. |
|
780 |
|
Refrigerators |
|
Nos. |
|
570 |
|
Mobile Phone |
|
Nos. |
|
10200 |
|
Air Conditioner |
|
Nos. |
|
960 |
Note:
* As certified by the management and accepted
by auditors, being a technical matter
@ on single shift basis except in case of
Mobile Phone where it is based on triple shift basis.
GENERAL INFORMATION
|
Bankers : |
v
State Bank of v
ICICI Bank Limited, 9-A, v
Bank of |
||||||||||
|
|
|
||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Building 8, 7th and 8th Floor, Tower-B, DLF, |
|
|
|
|
Associates/Subsidiaries : |
Fellow Subsidiaries
Associates v
Toshiba Samsung Storage v
Samsung Corporation Company, Limited v
Samsung Digital Imaging Company, Limited v
iMarket Korea, Inc. v
Samsung SDI ( v
Tianjin Samsung SDI Company, Limited v
Samsung SDI ( v
Samsung Electro-MechanicsCompany, Limited v
Samsung Electro-Mechanics Pte. ,Ltd v
Tianjin Samsung Electro-Mechanics Company,
Limited v
Samsung High-Tech Electro-Mechanics ( v
Samsung Heavy Industries India Private Limited v
Tianjin Samsung Opto-Electronics Company, Limited v
Samsung SDS Company, Limited v
Samsung Networks Inc. v
Samsung SDI Company, Limited v Samsung SDS Asia Pacific Pte. Limited Holding Company v
Samsung Electronics Company Limited, |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
244000000 |
Equity Share |
Rs.10/- Each |
Rs. 2440.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
216787504 |
Equity Share |
Rs.10/- Each |
Rs. 2167.875
Millions |
Note:
1. Of the
above, 216,787,486 (Previous year 216,787,486), Equity Shares of Rs.10 each are
held by Samsung Electronics Company Limited., Korea, the holding company
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 |
2167.875 |
2167.875 |
1801.208 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5920.965 |
1898.976 |
1144.706 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8088.840 |
4066.851 |
2945.914 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
1.691 |
|
|
2] Unsecured Loans |
900.000 |
2774.307 |
2594.160 |
|
|
TOTAL BORROWING |
900.000 |
2774.307 |
2595.851 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8988.840 |
6841.158 |
5541.765 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4397.988 |
4096.055 |
3523.242 |
|
|
Capital work-in-progress |
2413.825 |
74.734 |
57.644 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
704.252 |
367.133 |
259.533 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12128.621
|
8138.490
|
7137.034 |
|
|
Sundry Debtors |
8629.631
|
4921.853
|
4109.183 |
|
|
Cash & Bank Balances |
3306.959
|
462.418
|
178.562 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
4542.636
|
2934.216
|
1870.333 |
|
Total
Current Assets |
28607.847
|
16456.977 |
13295.112 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22553.766
|
10932.657
|
10334.283 |
|
|
Other Liabilities |
1903.776
|
1034.506
|
|
|
|
Provisions |
2677.530
|
2186.578
|
1259.483 |
|
Total
Current Liabilities |
27135.072
|
14153.741
|
11593.766 |
|
|
Net Current Assets |
1472.775
|
2303.236
|
1701.346 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8988.840 |
6841.158 |
5541.765 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
116629.553 |
77920.414 |
50974.516 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
109096.317 |
74363.667 |
48361.012 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
109096.317 |
74363.667 |
48361.012 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7533.236 |
3556.747 |
2613.504 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
124.630 |
333.073 |
133.208 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7408.606 |
3223.674 |
2480.296 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1403.015 |
1437.346 |
937.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6005.591 |
1786.328 |
1543.106 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1983.602 |
1371.840 |
2306.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4021.989 |
414.488 |
(763.131) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1242.607 |
5296.809 |
NA |
|
|
|
Software Exports |
1864.825 |
1232.080 |
NA |
|
|
|
After Sales Services Income |
157.085 |
179.025 |
NA |
|
|
|
Sales Support Income |
35.015 |
27.014 |
NA |
|
|
|
Miscellaneous Income |
53.300 |
-- |
NA |
|
|
|
Reimbursement of Marketing, Services and Other Expenses |
772.630 |
868.727 |
NA |
|
|
TOTAL EARNINGS |
4125.462 |
7603.655 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
38334.407 |
26790.236 |
NA |
|
|
|
Finished Goods |
26427.627 |
11635.456 |
NA |
|
|
|
Services Spares |
652.918 |
449.181 |
NA |
|
|
|
Capital Goods (including Capital Goods in Transit) |
2204.198 |
920.149 |
NA |
|
|
TOTAL IMPORTS |
67619.150 |
39795.022 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.55 |
1.91 |
(4.24) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.44
|
0.53
|
(1.50) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.19
|
8.69
|
9.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.74
|
0.44
|
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.46
|
1.16
|
4.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.16
|
1.15 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from 7th
and 8th Floor,
Performance:
The Directors
are pleased to inform that the Company clocked an increase of 49.68% in its
Sales and other Income for the year ended 31st March, 2010 as compared to the
previous year. The Profit before tax increased by 236.20% during the period as compared to the same period
last year.
In spite of operating in an economy that was recovering from the slowdown The Company put up a strong performance on the strength of continuous product innovation, sustained brand building and innovative advertising programs. The Company not only consolidated its leadership in several categories but also created new markets to drive its growth.
The Company had the privilege of being the first Company to launch Full High Definition LED TVs in the Indian market. In fact, based on its aggressive advertising and product displays at multi brand dealer counters, the Company succeeded in creating a strong initial interest in LED TVs. The Company could also sustain the momentum for its LCD TV category by launching new models and retained its leadership in the LCD category with a market share of 34.5% for the calendar year 2009. The Company also grew its Flat TV sales by 16% and ended the calendar year 2009 with a 24.2% volume market share, thereby retaining its No.2 Position in the Indian market.
The Company gave a strong boost to its mobile business by
launching innovative new touch screen models, thereby establishing its
leadership in the touch screen segment with an over 30% market share in this
segment. Particularly successful in its touch screen series were its flagship
models Samsung Star and its
The Company launched over 40 mobile phones across the entry
level Guru series, the multimedia segment, the business phone category as well
as the touch screen segments in the Indian market during the calendar year
2009. Based on its differentiated product portfolio, channel expansion and
innovative advertising, The Company consolidated its position as the No. 2
Player in the Mobile market in
The Company achieved a strong growth in Home Appliances in the calendar year 2009 through new product innovations. The Company launched its new, most energy efficient, 5 Star rated ‘Freshtech Ultima’ range of frost free refrigerators, differentiated on account of its Cool Pack
FORM 8
Bankers Charges Report
as per Registry
|
Name of the company |
SAMSUNG INDIA ELECTRONICS PRIVATE LIMITED |
|
Presented By |
Mr. Shard C.
Sharma, Company Secretary |
|
1) Date and description of instrument creating the change |
Agreement of hypothecation of goods and assets dated 19.11.2004 Agreement of loan for overall limit dated 19.11.2004 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 900.000 Millions |
|
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 |
Registered first charge on company Plant and machinery and other fixed
assets ranking Pari-Passu with other Banks. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Facility – 2 year bullet term loan facility with annual put/call
options Interest rate – 5.47% for the first year of the loan (Payable Monthly) Repayment date – Bullet repayment at 24 months from date of draw –
down Security – Pari passu first charge on the fixed assets |
|
5) Name and Address and description of the person entitled to the charge. |
Bank of |
|
6) Date and brief description of instrument modifying the charge |
05.10.2005 on document was executed but an equitable joint mortgage,
thru constructive delivery, was created by the company in favour of i)
Bank of America for its term loan of Rs. 900.000
Millions ii)
ICICI Bank Limited for its EPGC Bank Guarantee
facility of Rs. 150.000 Millions and Rs. 70.000 Millions By deposit of title deeds with ICICI Bank Limited acting for itself
and Bank of |
Fixed Assets:
·
·
Buildings
·
Leasehold Improvements
·
Plant and Machinery
·
Office Equipment
·
Computers
·
Furniture and Fixtures
·
Vehicles
CONTINGENT
LIABILITIES NOT PROVIDED FOR AS ON 31.03.2010
• Bank Guarantees of Rs.327.781 millions (Previous year Rs. 203.267 millions
• Corporate Guarantees furnished to State Industries Promotion Corporation of Tamil Nadu Limited towards Investment Promotion Subsidy.
• Performance Bond of Rs. 167.003 millions (Previous year Rs. 449.077 millions furnished to the Government of India under the EPCG Scheme. Refer Note (3) (ii) below.
• Claims against the Company not acknowledged as debts
(i)Demands raised by the Income Tax Authorities being contested by the Company Rs.431.019 millions (Previous year Rs.402.126 millions.
(ii)Demands raised by Sales Tax and Excise authorities, being contested by the Company Rs.312.241 millions (Previous year Rs.308.858 millions.
(iii) Others Rs.48.507 millions (Previous year Rs.50.281 millions.
Note: Future cash outflows in respect of the above are determinable only on receipt of judgments! decisions pending with various forums) authorities.
• Letters of Credit outstanding against which goods have not been shipped Rs.0.027 millions (Previous year Rs. 0.125 millions.
• Recourse available with the bank against the receivables securitized by the Company Rs.68.190 millions (Previous year Rs. Nil).
AS PER WEBSITE
DETAILS:
Samsung
maneuvers In India are mainly under Samsung India Electronics Limited (SIEL). The SIEL was formed in 1995. Today,
the sales turnover of Samsung
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.44.77 |
|
|
1 |
Rs.72.66 |
|
Euro |
1 |
Rs.63.06 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.