MIRA INFORM REPORT

Report Date :

25.06.2013

IDENTIFICATION DETAILS

Name :	KAM-AVIDA ENVIRO ENGINEERS PRIVATE LIMITED
Registered Office :	Plot No. 2, Survey No. 255/1, Hinjewadi, Pune – 411057, Maharashtra
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	19.04.1994
Com. Reg. No.:	11-077795
Capital Investment / Paid-up Capital :	Rs. 14.081 Millions
CIN No.: [Company Identification No.]	U29299MH1994PTC077795
TAN No.: [Tax Deduction & Collection Account No.]	PNEK05831A
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer, Supplier and Trader of Engineering goods, Drain Cleaning Machines, Cleaning Equipments, etc.
No. of Employees :	100 (Approximately)

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 2100000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track record. There appears a significant increase in the net sales of the company during 2012. The profitability position is improving where as financially the company is strong and healthy. Trade relations are fair. Business is active. Payment terms are usually correct. 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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

EXTERNAL AGENCY RATING

Rating Agency Name	CRISIL
Rating	SME 2
Rating Explanation	High credit quality and very low credit risk.
Date	31.10.2012

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.

INFORMATION PARTED BY

Name :	Mr. Nilesh
Designation :	Accountant
Contact No.:	91-20-66756300
Date :	14.06.2013

LOCATIONS

Registered Office/ Factory :	Plot No. 2, Survey No. 255/1, Hinjewadi, Pune – 411057, Maharashtra, India
Tel. No.:	91-20-66756300/ 25664051
Fax No.:	91-20-66756400
E-Mail :	accounts1@kam-avida.com query@kam-avida.com
Website :	http://www.kam-avida.in
Location :	Owned
Marketing Office :	Flat No.3, Shrinivas Garden, CST – 1145, Off F C Road, Shivaji Nagar, Pune – 411005, Maharashtra, India
Sales and Services Location:	· Dehradun · Delhi · Jaipur · Lucknow · Ludhiana · Kolkata · Bhopal · Nagpur · Vadodara · Mumbai · Hyderabad · Goa · Bangalore · Chennai · Cuttack · Patna

DIRECTORS

As on: 30.09.2012

Name :

Mr. Hemant Mukund Ogale

Designation :

Director

Address :

Flat No. 03, Gaurishankar 773/8, Erandwane, Pune – 411004, Maharashtra, India

Date of Birth/Age :

14.07.2006

Date of Appointment :

24.09.2012

DIN No.:

00596947

Name :

Mr. Mukund Krishnaji Kanade

Designation :

Director

Address :

Flat No. 01, Mont Vert Solitaire S. No. 260/1, Baner Aundh, Pune – 411007, Maharashtra, India

Date of Birth/Age :

05.07.1936

Date of Appointment :

06.10.2001

DIN No.:

00649609

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U33112PN2000PLC018531	Nasan Medical Systems Limited	Director	02/04/2001	02/04/2001	01/04/2012	Active	NO
2	U29299MH1994PTC077795	Kam-Avida Enviro Engineers Private Ltd	Director	06/10/2001	06/10/2001	-	Active	NO
3	U31200PN1992PTC016377	Cotmac Electronics Private Limited	Director	19/04/2006	19/04/2006	01/11/2008	Active	NO

Name :

Mr. Manohar Krishna

Designation :

Managing director

Address :

3, Gandhali Damle Path Off Law College Road, Pune – 411004, Maharashtra, India

Date of Birth/Age :

30.10.1959

Date of Appointment :

19.04.1994

DIN No.:

00919073

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U51909PN1993PTC070814	Kam Marketing Private Limited	Director	16/02/1993	16/02/1993	01/07/2008	Active	NO
2	U29299MH1994PTC077795	Kam-Avida Enviro Engineers Private Limited	Managing director	19/04/1994	19/04/1994	-	Active	NO

Name :

Mr. Porusasp Rustam Dadachanji

Designation :

Director

Address :

A7, Gera Park, 15/13, Boat Club Road Camp, Pune – 411001, Maharashtra, India

Date of Birth/Age :

12.07.1951

Date of Appointment :

01.09.2008

DIN No.:

02013834

Name :

Mr. Venkat Shankar Parthasarathy

Designation :

Director

Address :

No.3C, Nithyashree Apartments, 51 Chamirs Road, Puram, Chennai – 412101, Tamilnadu, India

Date of Birth/Age :

27.04.1966

Date of Appointment :

27.09.2011

DIN No.:

02223282

Other Directorship :

S.No.	CIN/LLPIN	Name of the Company/ LLP	Current designation of the Director/ Designated Partner	Date of appointment at current designation	Original date of appointment	Date of cessation	Company/ LLP Status	Defaulting status
1	U55101TN1994PTC027509	Oriental Cuisines Private Limited	Director	15/04/2008	15/04/2008	24/04/2013	Active	NO
2	U32109TN2007PTC062014	Indus Mobile Distribution Private Limited	Director	28/09/2009	18/06/2008	-	Active	NO
3	U29299MH1994PTC077795	Kam-Avida Enviro Engineers Private Limited	Director	27/09/2011	01/09/2008	-	Active	NO
4	U51909AP2000PTC034653	Balan Natural Food Private Limited	Director	09/10/2008	09/10/2008	15/12/2011	Active	NO
5	U72200KA2002PTC030917	Tele Dna Communications Private Limited	Director	30/11/2009	30/10/2009	22/12/2011	Active	NO
6	U85110TN1994PTC029023	Medall Healthcare Private Limited	Director	23/09/2010	08/11/2009	-	Active	NO
7	U31103KA2002PTC030060	Universal Power Transformer Private Limited	Director	13/08/2010	12/11/2009	-	Active	NO
8	U74130KA2006PTC059425	Loyalty Solutions and Research Private Limited	Director	29/09/2010	29/05/2010	-	Active	NO
9	U41000TN2002PTC050091	Aqua Designs India Private Limited	Director	30/11/2010	06/08/2010	-	Active	NO
10	U31900TN1985PTC011866	Consul Consolidated Private Limited	Director	29/08/2012	05/04/2012	-	Active	NO
11	U18109KA2009PTC051868	Brandis Manufacturing And Marketing Private Limited	Additional director	29/11/2012	29/11/2012	-	Active	NO

KEY EXECUTIVES

Name :	Mr. Nilesh
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on: 30.09.2012

Names of Shareholders	No. of Shares
Manohar Krishna	57243
Renuka Krishna	4500
Meena Krishna	2900
Renuka Krishna	1655
Meena Krishna	1350
Chintalapati Holdings Private Limited, India	5302
Peepul Capital Fund LLC, Mauritius	53015
Total	125965

Names of Preference Shares	No. of Preference Shares
Peepul Capital Fund LLC, Mauritius	13500
Palmyrah Capital PTE Limited,Singapore	1350
Total	14850

Equity Share Break up (Percentage of Total Equity)

As on: 30.09.2012

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	42.10
Bodies corporate	4.20
Directors or relatives of directors	53.70
Total	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer, Supplier and Trader of Engineering goods, Drain Cleaning Machines, Cleaning Equipments, etc.
Products :	· Drain Cleaning Machine · Garbage Collection and Transportation Machine · Sweeping · Industrial Vaccum Cleaner and Spillage Recovery · Floor Cleaning Machine · CCTV Inspection Machine
Exports :
Products :	Drain Cleaning Machines, Cleaning Equipments
Countries :	· Srilanka · Bangalore · Nepal
Imports :
Products :	Pumps
Countries :	· Italy · Germany
Terms :
Selling :	Cash
Purchasing :	Cash

GENERAL INFORMATION

Customers :

End Users and OEM’s

No. of Employees :

100 (Approximately)

Bankers :

· Axis Bank Limited, 1262/B, Sterling Plaza, Jangli Maharaj Road, Deccan Gymkhana, Pune - 411004, Maharashtra, India

· The United Western Bank Limited, Camp Branch, Pune, Maharashtra, India

· The Ratnakar Bank Limited, Shahupuri, Kolhapur – 416001, Maharashtra, India

Facilities :

(Rs. In Millions)

Secured Loan	As on 31.03.2012	As on 31.03.2011
Term loan from Axis bank limited A/C No. 86106	1.900	5.539
Term loan from Axis bank limited	0.000	0.021
Term loan from Axis bank limited A/C No. 34295	8.836	8.181
Cash credit A/C No.5340 from Axis bank limited	159.652	148.192
LC discounting – Ratnakar bank limited	7.183	0.000
Cash credit linked current A/C 24240	(0.331)	(6.104)
Total	177.240	155.829

Banking Relations :	--
Auditors :
Name :	Jayant Joshi and Company Chartered Accountants
Address :	11, Kasturi Apartments, Dahanukar Colony Lane 17, Kothrud, Pune – 411038, Maharashtra, India
Tel. No.:	91-20-25458946
E-Mail :	jayantjoshi_co@rediffmail.com
PAN No.:	AADFJ2227R

CAPITAL STRUCTURE

After 30.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
2320000	Equity Shares	Rs.100/- each	Rs.23.200 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1834040	Equity Shares	Rs.100/- each	Rs.18.340 Millions

As on: 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
128000	Equity Shares	Rs. 100/- each	Rs. 12.800 Millions
32000	Preference Shares	Rs. 100/- each	Rs. 3.200 Millions
	Total		Rs. 16.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
125965	Equity Shares	Rs. 100/- each	Rs. 12.596 Millions
14850	Preference Shares	Rs. 100/- each	Rs. 1.485 Millions
	Total		Rs. 14.081 Millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2012	31.03.2011
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	14.081	12.597
(b) Reserves & Surplus	527.160	328.236
(c) Money received against share warrants	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000
Total Shareholders’ Funds (1) + (2)	541.241	340.833
(3) Non-Current Liabilities
(a) long-term borrowings	10.736	13.741
(b) Deferred tax liabilities (Net)	23.081	9.141
(c) Other long term liabilities	0.000	0.000
(d) long-term provisions	0.651	0.000
Total Non-current Liabilities (3)	34.468	22.882
(4) Current Liabilities
(a) Short term borrowings	214.389	153.953
(b) Trade payables	248.525	131.314
(c) Other current liabilities	181.767	114.248
(d) Short-term provisions	1.826	0.606
Total Current Liabilities (4)	646.507	400.121
TOTAL	1222.216	763.836
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	104.292	98.289
(ii) Intangible Assets	32.347	0.000
(iii) Capital work-in-progress	4.454	0.000
(iv) Intangible assets under development	0.000	0.000
(b) Non-current Investments	0.000	0.000
(c) Deferred tax assets (net)	0.000	0.000
(d) Long-term Loan and Advances	0.000	0.000
(e) Other Non-current assets	0.000	0.000
Total Non-Current Assets	141.093	98.289
(2) Current assets
(a) Current investments	0.000	0.000
(b) Inventories	146.466	162.859
(c) Trade receivables	708.801	376.177
(d) Cash and cash equivalents	28.478	12.096
(e) Short-term loans and advances	111.921	60.336
(f) Other current assets	85.457	54.079
Total Current Assets	1081.123	665.547
TOTAL	1222.216	763.836

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010
SHAREHOLDERS FUNDS
1] Share Capital		12.596
2] Share Application Money		0.000
3] Reserves & Surplus		333.827
4] (Accumulated Losses)		0.000
NETWORTH		346.423
LOAN FUNDS
1] Secured Loans		64.754
2] Unsecured Loans		1.573
TOTAL BORROWING		66.327
DEFERRED TAX LIABILITIES		8.642
TOTAL		421.392
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		74.531
Capital work-in-progress		2.697
INVESTMENT		0.000
DEFERRED TAX ASSETS		0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	81.237
	Sundry Debtors	279.713
	Cash & Bank Balances	29.816
	Other Current Assets	0.000
	Loans & Advances	67.905
Total Current Assets		555.780
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	89.385
	Other Current Liabilities	47.565
	Provisions	11.845
Total Current Liabilities		211.616
Net Current Assets		344.164
MISCELLANEOUS EXPENSES		0.000
TOTAL		421.392

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2012	31.03.2011	31.03.2010
	SALES
		Income
		Other Income
		TOTAL	869.059	457.178	552.260
Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL	NA	NA	504.934
	PROFIT / (LOSS) BEFORE TAX		NA	NA	47.326
Less	TAX		NA	NA	16.350
	PROFIT / (LOSS) AFTER TAX		50.424	(5.591)	30.976
	EARNINGS IN FOREIGN CURRENCY		18.528	0.000	NA
	IMPORTS
		Raw Materials	63.629	59.787	55.531
	TOTAL IMPORTS		63.629	59.787	55.531
	Earnings Per Share (Rs.)		400.30	N.A.	245.91

Particulars	31.03.2013
Sales Turnover (Approximately)	500.000
	Due to down process

Expected Sales (2013-2014): Rs. 850.000 Millions

The above information has been parted by Mr. Nilesh (Accountant)

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	5.80	(1.22)	5.61
Return on Total Assets (PBT/Total Assets}	(%)	NA	NA	7.51
Return on Investment (ROI) (PBT/Networth)		NA	NA	0.14
Debt Equity Ratio (Total Debt/Networth)		0.41	0.49	0.19
Current Ratio (Current Asset/Current Liability)		1.67	1.66	2.62

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	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	Yes
15]	Capital in the business	Yes
16]	Details of sister concerns	No
17]	Major suppliers	No
18]	Major customers	No
19]	Payments terms	Yes
20]	Export / Import details (if applicable)	Yes
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	Yes
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	Yes

UNSECURED LOAN

(Rs. In Millions)

Particulars	As on 31.03.2012	As on 31.03.2011
ABN AMRO Bank	0.000	0.109
Barclays Bank	0.000	0.272
Kotak Mahindra Bank limited	0.000	4.894
HDFC Bank limited	2.012	2.221
Religer finvest limited	0.000	1.308
Bajaj finance limited	0.000	2.271
HDFC Bank car loan	0.473	0.790
Inter corporate deposits	45.400	0.000
Total	47.885	11.865

Bankers Charges Report as per Registry

Corporate identity number (CIN) or foreign company registration number of the company	U29299MH1994PTC077795
Name of the company	KAM-AVIDA ENVIRO ENGINEERS PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	Plot No. 2, Survey No. 255/1, Hinjewadi, Pune – 411057, Maharashtra, India Email-id - accounts1@kam-avida.com
This form is for	Modification of charge
Charge identification (ID) number of the charge to be modified	10018030
Type of charge	Immovable property Book debts Movable property (not being pledge)
Particular of charge holder	Axis Bank Limited, 1262/B, Sterling Plaza, Jangli Maharaj Road, Deccan Gymkhana, Pune - 411004, Maharashtra, India Email-id - Ruchi.Joshi@axisbank.com
Nature of instrument creating charge	Memorandum of Entry [Extension of Equitable Mortgage]
Date of instrument Creating the charge	13.04.2012
Amount secured by the charge	Rs. 291.900 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest As notified by the bank from time to time. Terms of Repayment As per the agreement with Bank. Margin As per the agreement with Bank. Extent and Operation of the charge The First charge for Term Loan Facilities by way mortgage on all immovable properties situated at 1) Sr. No 255/1/7 of Hinjewadi, Tal : Mulasi, District: Pune and 2) S. No. 255, Hissa No 1/2, Hinjewadi, Tal: Mulshi, District : Pune together with all buildings and structures thereon and all plant and machinery, both present and future by Axis Bank limited and For Working Capital facilities by way of second pari-passu charge over the said properties by Axis Bank limited along with Ratnakar Bank limited. Others The Company has agreed that as long as the amount is outstanding under any of the aggregate credit facilities, the Mortgagor shall not create any further charge on the said property.
Short particulars of the property or asset(s) charged (including complete address and location of the property)	i) All that piece and parcel of the land/property admeasuring 30 Are out of Survey No. 255/117 of Hinjewadi, Tal - Mulshi, District Pune together with construction thereon. ii) All that piece and parcel of land admeasuring 960 sq. Mtrs. (Plot No. 8 as per private layout) which is out of and forming part of the property bearing S. No. 255, Hissa No. 1/2,Hinjewadi, Tal: Mulshi, District : Pune together with all buildings and structures thereon. 3) All buildings and structures thereon and all plant and machinery attached to the earth or permanently fastened to anything attached to the earth, both present and future.
Date of instrument modifying the charge	19.11.2010
Particulars of the present modification	By this present modification second pari passu charge has been created for additional working capital facilities of Rs.150.000 millions sanctioned by Ratnakar Bank limited, on all immovable properties situated at 1) Sr. No 255/1/7 of Hinjewadi, Tal: Mulasi, Dist: Pune abd 2) S. No. 255, Hissa No 1/2, Hinjewadi, Tal: Mulshi, Dist: Pune together with all buildings, plant and machinery by Axis Bank along with Ratnakar Bank limited.

WORKING OF THE COMPANY AND ITS FUTURE PROSPECTS:

The sales of the company for the period were Rs. 869.059 Millions as against sales of Rs. 457.178 Millions in the previous year. This represents increase in sales by 90%.

FIXED ASSETS:

· Land

· Factory Building

· Office Building

· Plant and Machinery

· Furniture and Fittings

· Drawing Board

· Dies and Patents

· Patents

· Development Expenses

· Electrical Installation

· Vehicles

· Office Equipment

· Computers and Periph.

· Borewell

· MSD Equip (DJB 5V)

· MSD Equip (DJB 7V)

· MSD Equip (Hubli - Dharwad)

· MSD Equip (Gulbarga Mum.Corpr.)

· MSD Equip (Kambi and Sweeper)

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No 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. 59.73
UK Pound	1	Rs. 91.81
Euro	1	Rs. 78.22

INFORMATION DETAILS

Information Gathered by :	PLV
Report Prepared by :	DPH

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
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	6
--CREDIT LINES	1~10	6
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	YES
--AFFILIATION	YES/NO	NO
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
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	-

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