1. Summary Information
|
Country |
India |
||
|
Company Name |
Myung Sung India Precision Private Limited |
Principal Name 1 |
Mr. Sanghyup An |
|
Status |
Moderate |
Principal Name 2 |
Mr. Yeom Ji Chul |
|
Registration # |
18-060667 |
||
|
Street Address |
New No.55, (Old
No.101), Thandalam Village, Sri Perumbudur Taluk, Kanchipuram – 602105, Tamilnadu, India |
||
|
Established Date |
26.07.2006 |
SIC Code |
-- |
|
Telephone# |
91-44-27156965/ 27156967 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-44-27156354/ 27156965 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Automobile Spare Parts |
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 44,119,620/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign Holdings –
100% |
Banking |
HDFC Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
7 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public Enterprise |
No |
Rating |
B (27) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
163,907,000 |
Current Liabilities |
308,117,000 |
|
Inventories |
100,489,000 |
Long-term Liabilities |
134,572,000 |
|
Fixed Assets |
227,977,000 |
Other Liabilities |
27,701,000 |
|
Deferred Assets |
14,334,000 |
Total Liabilities |
470,390,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
000 |
|
|
|
Net Worth |
36,317,000 |
|
Total Assets |
506,707,000 |
Total Liab. & Equity |
506,707,000 |
|
Total Assets (Previous Year) |
331,442,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
Not Available |
Net Profit |
Not Available |
|
Sales(Previous yr) |
263,097,000 |
Net Profit(Prev.yr) |
(1,214,000) |
|
Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
MYUNG SUNG INDIA PRECISION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
New No.55, (Old No.101), Thandalam Village, Sri Perumbudur Taluk, Kanchipuram – 602105, Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
26.07.2006 |
|
|
|
|
Com. Reg. No.: |
18-060667 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 44.119 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199TN2006PTC060667 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM09876G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECM7514J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Automobile Spare Parts. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
management have failed to file its latest financial with the government
department. As per previous year’s record, there appears some accumulated losses
recorded by the company. However, trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. The company can be considered for business dealings with great
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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.
LOCATIONS
|
Registered Office : |
New No.55, (Old No.101), Thandalam Village, Sri Perumbudur Taluk, Kanchipuram – 602105, Tamilnadu, India |
|
Tel. No.: |
91-44-27156965/ 27156967 |
|
Fax No.: |
91-44-27156354/ 27156965 |
|
E-Mail : |
DIRECTORS
As on: 29.09.2011
|
Name : |
Mr. Yeom Ji Chul |
|
Designation : |
Managing Director |
|
Address : |
No.8J, West Block Sis Meridian No.7, Gangai Nagar, Velacherry, Chennai
– 600042, Tamilnadu, India |
|
Date of Birth/Age : |
22.01.1978 |
|
Date of Appointment : |
02.02.2011 |
|
DIN No.: |
|
|
|
|
|
Name : |
Mr. Sanghyup An |
|
Designation : |
Additional director |
|
Address : |
H4 Hansa Enclave, Bhrathi Nagar 2nd Street, Thiruvanmiyur,
Chennai – 600041, Tamilnadu, India |
|
Date of Birth/Age : |
04.03.1978 |
|
Date of Appointment : |
03.01.2011 |
|
DIN No.: |
03387545 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Myung Sung Precicion Company Limited, Korea |
|
4411952 |
|
Ji Hun Chang |
|
10 |
|
Total |
|
4411962 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2011
|
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 : |
Manufacturing of Automobile Spare Parts. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sukumar and Associates Chartered Accountants |
|
Address : |
No. 29, (Old # 7), Devadi Street (Off Kutchery Road), Mylapore, Chennai
– 600004, Tamilnadu, India |
|
Tel. No.: |
91-44-24642340/ 24610939/ 24615161 |
|
Mobile No.: |
91-9840057799/ 9444401199 |
|
Fax No.: |
91-44-24641199 |
|
E-Mail : |
|
|
PAN.: |
AANFS9673C |
CAPITAL STRUCTURE
As on: 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs. 45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4411962 |
Equity Shares |
Rs.10/- each |
Rs. 44.119
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
44.119 |
21.900 |
21.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.353 |
1.566 |
|
|
4] (Accumulated Losses) |
(7.802) |
0.000 |
0.000 |
|
|
NETWORTH |
36.317 |
22.253 |
23.466 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
134.572 |
32.626 |
36.541 |
|
|
TOTAL BORROWING |
134.572 |
32.626 |
36.541 |
|
|
DEFERRED TAX LIABILITIES |
24.748 |
13.729 |
10.411 |
|
|
|
|
|
|
|
|
TOTAL |
195.637 |
68.608 |
70.418 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
227.977 |
149.145 |
139.158 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
14.334 |
13.761 |
10.185 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
100.489
|
54.858
|
23.808
|
|
|
Sundry Debtors |
118.187
|
93.600
|
15.974
|
|
|
Cash & Bank Balances |
13.693
|
0.745
|
0.399
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
32.027
|
19.333
|
20.542
|
|
Total
Current Assets |
264.396
|
168.536
|
60.723
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor and Other Current Liabilities |
308.117
|
261.501
|
138.319
|
|
|
Provisions |
2.953
|
1.333
|
1.329
|
|
Total
Current Liabilities |
311.070
|
262.834
|
139.648
|
|
|
Net Current Assets |
(46.674)
|
(94.298)
|
(78.925)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
195.637 |
68.608 |
70.418 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
263.097 |
54.608 |
|
|
|
Other Income |
|
2.924 |
(2.127) |
|
|
|
TOTAL (A) |
|
266.021 |
52.481 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in stock |
|
(13.690) |
(14.749) |
|
|
|
Material Consumed |
|
188.706 |
32.992 |
|
|
|
Manufacturing Expenses |
|
40.597 |
13.956 |
|
|
|
Payments and Benefits for Employees |
|
27.675 |
11.988 |
|
|
|
Administrative Expenses |
|
10.776 |
5.267 |
|
|
|
Preliminary Expenses written off |
|
0.000 |
0.000 |
|
|
|
Extordinery Items – Exchange Fluctaution |
|
0.000 |
0.000 |
|
|
|
TOTAL (B) |
|
254.064 |
49.454 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
11.957 |
3.027 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
2.637 |
1.462 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
9.320 |
1.565 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
11.157 |
3.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
(1.837) |
(2.326) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
(0.623) |
(3.237) |
|
|
|
|
|
|
|
|
|
|
PROFIT(LOSS)
AFTER TAX (G-H) (I) |
|
(1.214) |
0.911 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
1.566 |
0.655 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
0.352 |
1.566 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(0.55) |
-- |
|
Note: Profit and Loss Account for the year 2011 is
not available, only Balance Sheet is available.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
(0.46)
|
1.74 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(0.70)
|
(4.26) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
(0.58)
|
(1.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
(0.08)
|
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
12.27
|
13.28
|
7.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85
|
0.64
|
0.43 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two 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 |
No |
|
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 |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25199TN2006PTC060667 |
|
Name of the
company |
MYUNG SUNG INDIA
PRECISION PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
New No 55
Thandalam Village, Sri Perumbudur Taluk, Kancheepuram District, Tamilnadu –
602105, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai –
400013, Maharashtra, India |
|
Nature of
instrument creating charge |
Agreement Loan
and Guarantee. Contracts
No:3329346 |
|
Date of
instrument Creating the charge |
04.07.2010 |
|
Amount secured by
the charge |
Rs. 0.790 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: I nterest @ 11.56%
p.a Terms of Repayment: The Loan is repayable
in 35 EMIs Rs.0.026 Million Starting from 15 August, 2010 ending to 15th
June, 2013. Margin: As may 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 Vehicle/ equipment described in Item No. 15 as
security for the repayment/payment by the company of the loan granted or to
be granted to the company by the Bank together with all fees, interest, costs
and expenses incurred/to be incurred by the Bank and 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 against 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 reference to or without written intimation
to the company |
|
Short particulars
of the property charged |
Hypothecation of
1 vehicle namely: Escorts 3000D 3T (Year of Manufacture 2010) |
FIXED ASSETS:
· Plant and Machinery
· Office Equipments
· Electrical Installations
· Furniture and Fixtures
· Computer
· Vehicles
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 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 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. 53.89 |
|
|
1 |
Rs. 84.93 |
|
Euro |
1 |
Rs. 72.51 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.