MIRA
INFORM REPORT
|
Report Date : |
27.07.2012 |
IDENTIFICATION DETAILS
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Name : |
NIKO RESOURCES LIMITED |
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Project Office : |
4th Floor, Landmark Race Course, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
14.08.1994 |
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FCRN : |
F014560 |
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Capital
Investment / Paid-up Capital : |
Head Office Account – Rs. (6946.260) millions |
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Legal Form : |
Foreign Registry Company |
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Line of Business
: |
Oil and Gas Exploration and Sell it to only Government Sector. |
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No. of Employees
: |
Approximately 135 (In Office - 45, In Factory - 90) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a 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.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Mr. Yogesh Bajaj |
|
Designation : |
Finance Executive |
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Contact No.: |
91-265-2327348 |
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Date : |
27.07.2012 |
LOCATIONS
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Registered Office : |
# 1980 700 4th A. V.S.W. Calgory, Alberta, Canada – 7 2p 3
J 4 |
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Tel No.: |
Not Available |
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Fax No.: |
Not Available |
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Website : |
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Project Office 1 : |
4th Floor, Landmark Race Course, Vadodara – 390 007, Gujarat, India |
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Tel. No.: |
91-265-2313620 |
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Facsimile : |
91-265-2313620 |
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E-Mail : |
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Head Office : |
4600, |
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Tel. No.: |
(403) 262-1020 (403) 874-5646 (Emergency Contact No.) |
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Facsimile : |
(403) 263-2686 |
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E-Mail : |
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Field / Site Office 1 : |
A-5, Ajit Park Society, Behind Ramand Home. Mohan Park Lane, Ghod-Dod
Road, Surat – 395007, Gujarat, India |
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Field / Site Office 2 : |
House No.59, Shakti Kunj, Anand Nagar Society, Near Golana Octroi
Naka, District Kheda, Gujarat, India |
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Field / Site Office 3 : |
Sabarmati, Gujarat, India |
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International Office : |
Baharan Complex, Building C1-12, Gerdi Sarchinar,
Sulaymaniyah, Kurdistan Phone: +964 748 011 3909 Immeuble Assist Ivandry, 1st Floor
(101) Telephone: +261 20 22 432 56 Facsimile: +261 20 22 432 53 11, Mohakali C/A, 2nd Floor, Telephone: (880-2) 881 3498 / 3501 Facsimile: (880-2) 988 5595 Building C, 3rd Floor, Telephone: +62 21 782-1001 Facsimile: +62 21 782-2002 19, Telephone: +92 51 843-8072/3 Facsimile: +92 51 831-4835 Niko Resources ( Telephone: (868) 622 4440 Facsimile: 868 622 4969 |
DIRECTORS
As on 31.03.2011
|
Name : |
Edward S. Sampson |
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Designation : |
Chairman of the Board, President and Chief Executive Officer |
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Address: |
906, 738 3rd Ave Se. Calgary AbT2 PP OG7 Canada |
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Name : |
William T. Hornaday |
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Designation : |
Chief Operating Officer, Director |
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Address: |
141 Mt. Alberta View SE Calgary, Alberta T2Z 3N7 |
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Qualification : |
B.Sc., P.ENG. |
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Name : |
C. J. (Jim) Cummings |
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Designation : |
Director |
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Address: |
400, 4th Ave Sw, Suite 3000, Calgary, AB, T2P OJ4 |
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Qualification : |
LLB |
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Name : |
Walter De Boni |
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Designation : |
Director |
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Address: |
110, 7th Street Sw, Suite 1003 Calgary AB, R2P 5M9 |
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Qualification : |
B.A.Sc., MBA, P.ENG. |
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Name : |
Conrad P. Kathol |
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Designation : |
Director |
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Address: |
228, Deer River, Palace Se, Calgary Ab T2J 6Y8, Calgary |
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Qualification : |
B.Sc., P.ENG. |
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Name : |
Wendell W. Robinson |
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Designation : |
Director |
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Address: |
990, 1225 Eye St. Washington Wc 2005 United States of America |
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Qualification : |
BBA, MA, CFA |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh Bajaj |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
Oil and Gas Exploration and Sell it to only Government Sector. |
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PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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|
Crude Oil |
Metric Tonne |
N.A. |
N.A. |
8,567 |
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Natural Gas |
Cubic Meters |
N.A. |
N.A. |
133,850,107 |
GENERAL INFORMATION
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No. of Employees : |
Approximately 135 (In Office - 45, In Factory - 90) |
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Bankers : |
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Banking
Relations : |
-- |
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Financial Institution : |
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Auditors : |
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Name : |
BSR and Company Chartered Accountants |
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Address : |
KPMG House, Kamala Mills Compound, 448, Senapati Bapat Marg, Lower
Parel, Mumbai – 400 013, |
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Tel. No.: |
91-22-30440800/ 39896000 |
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Mobile No.: |
91-22-30440900/ 39836000 |
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Related parties
: |
·
Niko Resources (Bangladesh) Limited (Subsidiary
of Head Office) ·
Nikoresources (NELPV) Limited (Subsidiary of Head
Office) ·
Niko (NECO) Limited (Subsidiary of Head Office) ·
Niko (NELPIO) Limited (Subsidiary of Head Office) |
CAPITAL STRUCTURE
As on 31.03.2011
Head Office
Account
|
Particulars |
Rs. In Millions |
|
Opening Balance |
(6459.778) |
|
Contribution Received during the year |
377.730 |
|
Withdrawals during the year |
(953.296) |
|
|
(7035.344) |
|
ESOP’s issued to employees of project
offices |
89.084 |
|
Total |
(6946.260) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
(INDIA
PROJECT OFFICE)
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
HEAD OFFICE FUNDS |
|
|
|
|
|
1] Head Office Account |
(6946.260) |
(6459.778) |
(5146.230) |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8846.107 |
8327.003 |
7278.388 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1899.847 |
1867.225 |
2132.158 |
|
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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Liability for Abandonment Cost |
316.655 |
305.847 |
329.841 |
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DEFERRED TAX LIABILITIES |
28.439 |
98.568 |
0.000 |
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TOTAL |
2244.941 |
2271.640 |
2461.999 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
92.759 |
101.174 |
39.715 |
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Capital work-in-progress |
64.094 |
70.950 |
74.584 |
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Producing Properties (net) |
162.327 |
309.161 |
602.093 |
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Producing Properties–in–progress |
181.891 |
89.398 |
86.008 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
134.923 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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Inventories |
54.329
|
57.447
|
58.272 |
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Sundry Debtors |
142.047
|
172.927
|
186.499 |
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Cash & Bank Balances |
328.679
|
359.638
|
713.177 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
3027.261
|
2965.036
|
2424.222 |
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Total
Current Assets |
3552.316
|
3555.048
|
3382.170 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
21.447
|
43.534
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Other Current Liabilities |
145.623
|
275.589
|
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Provisions |
1641.376
|
1534.968
|
1352.321 |
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Total
Current Liabilities |
1808.446
|
1854.091
|
1857.494 |
|
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Net Current Assets |
1743.870
|
1700.957
|
1524.676 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2244.941 |
2271.640 |
2461.999 |
|
PROFIT & LOSS
ACCOUNT
(
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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SALES |
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Net Sales |
934.907 |
2473.788 |
1828.373 |
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|
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Other Income |
42.438 |
151.499 |
220.105 |
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TOTAL |
977.345 |
2625.287 |
2048.478 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Production Expenses |
59.571 |
525.603 |
211.879 |
|
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|
Geological and Geophysical Costs |
0.000 |
2.849 |
113.371 |
|
|
|
Administrative Expenses |
152.213 |
109.844 |
190.192 |
|
|
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TOTAL |
211.784 |
638.296 |
515.442 |
|
|
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|
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
765.561 |
1986.991 |
1533.036 |
|
|
|
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|
Less/ Add |
DEPLETION AND DEPRECIATION |
210.493 |
528.885 |
516.584 |
|
|
|
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PROFIT BEFORE
TAX |
555.068 |
1458.106 |
1016.452 |
|
|
|
|
|
|
|
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Less |
TAX |
35.965 |
409.491 |
184.549 |
|
|
|
|
|
|
|
|
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PROFIT AFTER TAX
|
519.104 |
1048.615 |
831.903 |
|
|
|
|
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|
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|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
18.642 |
19.766 |
NA |
|
|
TOTAL IMPORTS |
18.642 |
19.766 |
NA |
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITOR
DETAILS
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry
Creditor |
|
|
|
|
-
Others |
21.447
|
43.534
|
Not Available |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
BACKGROUND AND
ACTIVITIES
Subject, Canada ('Niko' or 'the Head Office') is a Company incorporated in Canada and has set up two project offices in India (collectively referred to as the 'Project Offices'. The Head office ('Operating Partner') entered into a Joint Venture with Gujarat State Petroleum Corporation Limited {'GSPCL' or 'JV Partner') for the exploration and development of Hazira field and obtained approval from the Additional Registrar of Companies (Delhi and Haryana) to establish a place of business in India with effect from 14 August 1994. The Head office was granted permission by the Reserve Bank of India ('the RBI') on 1 July 1997 to set up a Project office in India for a period of three years with retrospective effect from 14 August 1994 and such approval was further extended upto 1 July 2006. RBI, vide its circular A.P.(DIR Series) Mo. 37, dated 15 November 2003, has granted General permission, to foreign companies to set up a Project office in India, subject to certain conditions. In view of these, no specific permission for extension of Project Office is sought from RBI.
Niko-GSPCL Joint Venture ('the Joint Venture') has entered into Production Sharing Contracts ('PSC') for 25 years, with the Government of India on 23 September 1994. The share of the Joint Venture partners in the Hazira field is as follows:
|
Fields |
Participating interest |
|
|
Niko |
GSPCL |
|
|
Hazira |
33.33% |
66.67% |
|
|
|
|
The Head office has set up an additional place of business under the Companies Act, 1956 ('the Act') to explore and develop the 'Surat Block' awarded to the Head office under New Exploration Licensing Policy - II. For this purpose, the Head Office was granted permission by the RBI on 26 September 2001 to set up a Project office in India for a period of three years, which has been extended until September 2007. As already mentioned above vide its circular A.P.(DIR Series) No. 37, dated 15 November 2003, has granted General permission, to foreign companies to set up a Project office in India, subject to certain conditions. In lieu of these, no specific permission for extension of Project Office is sought from RBI.
The new Project office has entered into a PSC with the Government of India on 17 July 2001 for carrying out exploration work in Surat Block with 100% participating interest.
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Office Equipments
· Computer
· Vehicles
WEBSITE DETAILS:
HISTORY:
Niko is a Calgary Canada based independent
international oil and gas Company with operations in
Founded in 1987, the Company’s first six years of
operation were confined to the
Over the ensuing years Niko continued to grow
internationally both within
Today Niko is one of the largest exploration
acreage holders in both
MILESTONES
·
September 1994 – Hazira gas
field acquired (India)
·
July 1995 – Hazira gas
production commenced (India)
·
April 2000 – D6 and NEC Blocks
awarded (India)
·
October 2002 – D6 gas
discovery (India)
·
March 2003 - Surat gas
production commenced (India)
·
June 2004 – 3 gas discoveries
in NEC 25 (India)
·
July 2005 – D4 Block awarded
(India)
·
June 2006 – D6 deepwater oil
discovery (India)
·
December 2006 – D6 field
development plan secured (India)
·
March 2008 – 4 Blocks awarded
(Pakistan)
·
May 2008 – Qara Dagh Block
awarded (Kurdistan)
·
September 2008 – D6 oil
production commenced (India)
·
October 2008 – Grand Prix
Block secured (Madagascar)
·
November 2008 – 4 new blocks
awarded (Indonesia)
·
April 2009 – D6 gas production
commenced (India)
·
May 2009 – 1 new block awarded
(Indonesia)
·
July 2009 – Block 2ab awarded
(Trinidad)
·
November 2009 – 4 new blocks
awarded (Indonesia)
·
December 2009 – acquisition of
Black Gold (3 new Indonesia Blocks)
·
March 2010 – acquisition of
Voyager Energy (4 Trinidad Blocks)
·
May 2010 – 4 new blocks
awarded (Indonesia)
DIRECTORS:
Mr. Edward S. Sampson - Chairman of the Board, President and Chief
Executive Officer
Mr. Edward Sampson has excelled in the field of
business management during the past 37 years. He has initiated and managed a
series of successful business operations focused primarily on oil and gas
exploration and development. Mr. Sampson was instrumental in the growth and
development of a number of mid-sized Canadian public companies.
Mr. William T. Hornaday - Chief Operating Officer, Director
Mr. William Hornaday is a professional engineer
with over 33 years of industry experience. He has worked in North America,
Mr. Jim Cummings - Director
Mr. Jim Cummings has been involved in the petroleum
industry for the past 34 years. He graduated from The University of Alberta
with a degree in Law, has practiced in government, corporate and private roles,
specializing in international oil and gas law. Jim has served as Senior Counsel
with the Attorney General of Alberta in the Constitutional and Energy Law
Department, Senior Counsel with Home Oil, Vice-President and General Counsel
with Asamera and
Mr. Conrad Kathol - Director and Corporate Secretary
Mr. Conrad Kathol is an engineering graduate of the
Mr. Wendell Robinson - Director
Wendell Robinson joined Global Environment Fund as
Managing Director from Rockefeller and Co. where he was responsible for
Rockefeller’s worldwide private equity program. Mr. Robinson oversaw the
investment and successful sale of more than $300 million in private equity and
venture capital positions throughout Southeast Asia, Europe, Latin America and
the
OVERVIEW
Niko Resources has assembled a diversified asset
base designed to provide access to multiple high impact plays, a key component
of Niko’s proven strategy. Other elements of the strategy include growth
through the drill bit along with growth through opportunistic acquisitions,
striving to be the low-cost producer in every basin in which they operate, and
finally, dominating core focus areas through maintaining a large land base and
local area knowledge.
Niko’s large, balanced portfolio of assets provides
exploration, production and development opportunities for both natural gas and
crude oil. Their Indian and
Since 1997 the government has implemented the New
Exploration Licensing Policy (NELP) that has provided a framework for companies
to invest in
The basin has approximately 20km of Tertiary
sediments that was shed from the emerging Himalayans and deposited in a
spectrum of environments ranging from deep to shallow marine, to deltaic and
fluvial settings.
As a consequence, this association of sandstones,
source rocks and an assortment of trap configurations have created a region
that is prospective for hydrocarbon exploration.
Furthermore, many of
The Kurdistan region of northern
In
The Morondava basin is located along the west coast
of
The offshore Morondava basin is considered to
retain the same petroleum system that produced the onshore accumulations but
extending into a deeper geologic setting will yield lighter oil discoveries.
Offshore the
The twin Caribbean islands of
PRESS RELEASE
NIKO EXPLORATION DRILLING UPDATE
JULY 10, 2012
CALGARY, ALBERTA--(Marketwire - July 10, 2012)
- Niko Resources Limited ("Niko") (TSX:NKO). Niko is pleased to
provide an offshore drilling update.
In Indonesia:
The Ratnadewi-1 well has reached a vertical
depth of 1,322 meters. Power generator problems led to the rig losing electric
power and as a result logging was possible only to a depth of 1,180 meters.
MDTs (formation pressure measurements) were taken and indicated an oil
gradient. Fluid samples were recovered from two sample points with both sample
points containing light oil as well as formation water and mud filtrate.
Evaluation of the well is continuing with sidewall coring and further MDTs of
additional zones prior to casing and drill stem testing. New generators are
being delivered and the rig is expected to be fully operational early next
week.
The Discoverer Seven Seas deepwater rig is
arriving earlier than previously estimated and is now expected to commence
drilling the Lebah prospect in the North Ganal block on July 17th.
The Ocean Monarch is expected to arrive in
Singapore between July 28th and August 4th to begin a hull inspection that is
planned for approximately 35 days. As a result the rig is expected to commence
operations for Niko during the first week of September.
In Trinidad:
The Shadow-1 well in Block 2ab has reached a
vertical depth of 1,373 meters; 13 3/8 casing has been set and drilling will
commence tomorrow.
YEAR END 2012 RESULTS: PRESS RELEASE ANNOUNCEMENT AND CONFERENCE CALL
JUN 27, 2012
CALGARY, ALBERTA, Jun 27 (MARKET WIRE) -- Niko
Resources Limited ("Niko") (TSX:NKO) intend to release its year-end
results later this evening, Wednesday June 27th, 2012.
The Company with host a conference call on
Thursday, June 28th, 2012. Details of the conference call are listed below:
Time: 9:00 am Mountain Time (11:00 am Eastern Time)
North American Dial-in:
1 416 695 7806 / 1 888 789 9572
International Toll Free Dial In:
1 800 6578 9818
Participant Pass Code: 2836962
Shortly after the conclusion of the call, a
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code is 3122560. The replay will expire July 5, 2012 at 23:59 pm.
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.55.95 |
|
|
1 |
Rs.86.56 |
|
Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
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 |
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.