MIRA
INFORM REPORT
|
Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
EASUN – MR TAPCHANGERS LIMITED |
|
|
|
|
Registered
Office : |
Temple Tower, 476, Anna Salai Nandanam, Chennai – 600035, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.10.1995 |
|
|
|
|
Com. Reg. No.: |
18-033210 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 38.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36999TN1995PLC033210 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE1681L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufactures Various Transformer Accessories In The Area Of
Voltage Regulation, Monitoring, Control And Power Management |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a satisfactory track record.
Financially company seems to be strong. Liquidity position is good. There
appears no external borrowing. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
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 |
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 : |
Temple Tower, 476, Anna Salai Nandanam, Chennai – 600035, Tamilnadu,
India |
|
Tel. No.: |
91-44-26390863 |
|
Fax No.: |
91-44-26390881 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory 1 : |
612 (Old No. 232) M. T. H. Road, Thiruninravur
– 602024, Chennai, India |
|
Tel. No.: |
91-44-26390863 |
|
Fax No.: |
91-44-26390881 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
20/5, Perumal Koil
Street, Thiruninravur – 605107, Pondicherry,
India |
|
Tel. No.: |
91-413-2607631 |
|
Fax No.: |
91-413-2641836 |
|
E-Mail : |
DIRECTORS
As on: 28.05.2012
|
Name : |
Mr. Hariharan Eswaran |
|
Designation : |
Director |
|
Address : |
Pasupa Thinath, A
Block, 26 Desika Road, Mylapore,
Chennai – 600004, Tamilnadu, India |
|
Date of Birth/Age : |
03.07.1937 |
|
Date of Appointment : |
12.10.1995 |
|
DIN No.: |
00196760 |
|
|
|
|
Name : |
Mr. Nicolas Sven Christian Geb. Maier Maier Scheubeck |
|
Designation : |
Director |
|
Address : |
Schillerstr 45, Regensburg, Germany – 93049, India |
|
Date of Birth/Age : |
17.10.1961 |
|
Date of Appointment : |
08.07.1996 |
|
DIN No.: |
02605990 |
|
|
|
|
Name : |
Mr. Raj Hari Eswaran |
|
Designation : |
Director |
|
Address : |
A Block, Pasupathinath, 26 Desika Road, Mylapore, Chennai
– 600004, Tamilnadu, India |
|
Date of Birth/Age : |
31.10.1968 |
|
Date of Appointment : |
06.08.1999 |
|
DIN No.: |
00195354 |
|
|
|
|
Name : |
Mr. Michael Gerhard Rohde |
|
Designation : |
Director |
|
Address : |
Blumenstr, 3 Neukirchen
Am Brand, Germany – 91077, India |
|
Date of Birth/Age : |
12.03.1958 |
|
Date of Appointment : |
01.04.2005 |
|
DIN No.: |
02605981 |
KEY EXECUTIVES
|
Name : |
Mr. Ramaswamy Ravikumar |
|
Designation : |
Secretary |
|
Address : |
A-2, Subha Uma
Flats, 28 Old Post Office Street Ambattur, Chennai
– 600053, Tamilnadu, India |
|
Date of Birth/Age : |
10.05.1957 |
|
Date of Appointment : |
01.02.1997 |
|
PAN No.: |
AAAPR3942A |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 28.05.2012
|
Names of Shareholders |
|
No. of Shares |
|
Hari Eswaran |
|
76000 |
|
Machinenfabrik Reinhausen |
|
1862000 |
|
Sowraj Investments Private Limited, India |
|
1862000 |
|
|
|
|
|
Total |
|
3800000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.05.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
49.00 |
|
Bodies corporate |
|
49.00 |
|
Directors or relatives of directors |
|
2.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures Various Transformer Accessories In The Area Of Voltage Regulation, Monitoring, Control And Power Management |
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Products : |
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Products : |
·
Type D ·
Type V |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
|
|
Bankers : |
Axis Bank Limited, Corporate Banking Branch, Ground Floor, Karumuthu Nilayam, 192, Anna Salai, Chennai - 600002, Tamil Nadu, India |
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|
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Banking Relations
: |
-- |
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Auditors 1 : |
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|
Name : |
Brahmayya and Company Chartered Accountants |
|
Address : |
48, Masilamani Road, III Floor, Balajinagar, Royepettah,
Chennai – 600014, Tamilnadu, India |
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PAN No.: |
AAASB2481J |
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|
|
|
Auditors 2: |
|
|
Name : |
Subramanian and Company Chartered Accountants |
|
Address : |
36, Krishnaswamy Avenue, Luz, Chennai – 600004, Tamilnadu,
India |
|
PAN No.: |
AAAFR0602F |
|
|
|
|
Related Party : |
· Easun Products Of India Private Limited CIN No. U51102TN1964PTC005248 · Easun Reyrolle Limited CIN No. L31900TN1974PLC006695 Joint Venture Partners Sowraj Investments (Private) Limited, Chennai: 600035 · Maschinenfabrik Reinhausen GmbH, Germany |
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|
·
|
|
Associates : |
Associate Companies Easun Products of India (Private) Limited, Chennai · Easun Reyrolle Limited, Chennai · Easun Engineering Company Limited, Chennai · Reinhausen Power Composites GmbH, Regensburg, Germany Mes sko GmbH |
CAPITAL STRUCTURE
As on: 28.05.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3800000 |
Equity Shares |
Rs.10/- each |
Rs. 38.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
38.000 |
38.000 |
38.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
295.043 |
278.317 |
237.038 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
333.043 |
316.317 |
275.038 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
5.891 |
6.139 |
7.054 |
|
|
|
|
|
|
|
|
TOTAL |
338.934 |
322.456 |
282.092 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
124.400 |
119.856 |
131.079 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
102.862 |
96.803 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
190.283
|
223.365 |
145.865 |
|
|
Trade receivable |
279.018
|
232.720 |
224.051 |
|
|
Cash & Bank Balances |
19.329
|
14.392 |
31.425 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
118.724
|
125.428 |
127.431 |
|
Total
Current Assets |
607.354
|
595.905 |
528.772 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
106.807
|
128.423 |
102.590 |
|
|
Other Current Liabilities |
68.174
|
83.247 |
91.359 |
|
|
Provisions |
320.701
|
278.438 |
183.810 |
|
Total
Current Liabilities |
495.682
|
490.108 |
377.759 |
|
|
Net Current Assets |
111.672
|
105.797 |
151.013 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
338.934 |
322.456 |
282.092 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1044.565 |
980.322 |
950.095 |
|
|
|
Other Income |
16.381 |
12.520 |
43.852 |
|
|
|
TOTAL (A) |
1060.946 |
992.842 |
993.947 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
443.830 |
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress, and
stock-in-trade |
28.677 |
(24.099) |
|
|
|
|
Employee benefits expenses |
105.968 |
87.028 |
|
|
|
|
Other expenses |
146.270 |
133.220 |
|
|
|
|
TOTAL (B) |
724.745 |
617.296 |
641.154 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
336.201 |
375.546 |
352.793 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.757 |
2.679 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
331.444 |
372.867 |
352.793 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
15.338 |
15.720 |
15.150 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX(E-F) (G) |
316.106 |
357.147 |
337.643 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
100.639 |
116.937 |
114.163 |
|
|
|
|
|
|
|
|
|
|
PROFIT
AFTER TAX (G-H) (I) |
215.467 |
240.210 |
223.480 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Earnings |
21.677 |
19.247 |
21.426 |
|
|
TOTAL EARNINGS |
21.677 |
19.247 |
21.426 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components and spare parts |
66.420 |
74.451 |
0.000 |
|
|
TOTAL IMPORTS |
66.420 |
74.451 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
215.467 |
240.210 |
0.000 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
20.30 |
24.19 |
22.48 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
30.26 |
36.43 |
35.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
43.20 |
49.90 |
51.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.95 |
1.13 |
1.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.12 |
1.40 |
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 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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS
The financial year 2011 - 2012 saw sales growth in volume and value terms by about 3.64% and 3.80% respectively as far as OLTCs are concerned Sale of OLTC and spares figure was T Rs. 1000.107 million against the previous year corresponding figure of T Rs. 941.509 million registering a growth of 6.22% and crossing the mile stone of Rs 0.100 million turnover first time since inception.
OLTC sales in poles were 1,765 Poles, as against 1,703 poles of the previous year, a growth of 3.64%. Production of OLTCs was at 1,697 poles as against the previous year figure of 1,769 poles. Order input during the year for OLTCs was 1,803 poles valued at TRs 869,845 as against previous year’s corresponding figures of 2,002 Poles and T Rs 1004.858 million. This would mean a drop of 9.94% in quantity and 13.44% in value terms in Order Input in the year 2011 – 2012 as compared to the previous year. Despite increase in the turnover, the drop in profitability is due to increasing cost of operations, pointing towards the growing need for more volumes even to sustain the profitability numbers in absolute terms.
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration
number of the company |
U36999TN1995PLC033210 |
|
Name of the
company |
EASUN - MR TAP
CHANGERS LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Temple Tower,
476, Anna Salainandanam, Madras 600 035, Nandanam, Madras - 600035, Tamil Nadu,
India Emai-id :- r.ravikumar@easunmr.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10370884 |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Axis Bank
Limited, Corporate Banking Branch, Karumuthu Nilayam, No.192 Anna Salai,
Chennai – 600002, Tamil Nadu, India Emai-id:- sheen.paul@axisbank.com |
|
Nature of
instrument creating charge |
Undertaking Cum
Indemnity Deed. |
|
Date of
instrument Creating the charge |
09.10.2012 |
|
Amount secured by
the charge |
Rs. 50.000 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest No Change in Existing
Terms and Conditions. Terms of
Repayment No Change in
Existing Terms and Conditions. Margin No Change in
Existing Terms and Conditions. Extent and
Operation of the charge No Change in
Existing Terms and Conditions. Others Facilities Existing Present (Rs.in Million) Cash Credit 50.000 50.000 Bank Guarantee
(Sub Limit to CC) (2.500) (2.500) LC/Buyers Credit (Sub Limit
to CC) (2.500) (2.500) LER (1.000) (5.000) Total 0.500 0.500 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
No Change in
Existing Securities Provided by the Company. |
|
Date of
instrument modifying the charge |
06.09.2012 |
|
Particulars of
the present modification |
By the Present Modification,
There is No Change in the Overall Limit of Rs.0.500 million, Now the
Modification Indicates Increase of LER Sub Limit Under Cash Credit Facility
from Rs.0.010 million to Rs.0.050 million and Existing Securities Shall
Continue to Cover the Present Limit. |
CONTINGENT LIABILITIES
(Rs. In Million)
|
PARTICULARS |
As on 31.03.2012 |
As on 31.03.2011 |
|
|
a) Claims against the company not acknowledged as debt |
3.766 |
3.766 |
|
|
b) Liability in dispute and under appeal with Central Excise Commissioner in respect of service tax on sales commission during the period April |
0.768 |
0.768 |
|
|
c) Other money for which the company is contingently liable ( in respect of bank guarantees issued) |
4.713 |
4.713 |
|
FIXED ASSETS
· Computer software
· Land
· Buildings
· Factory building
· Plant and equipment
· Furniture and fixtures
· Office equipment
·
Office equipment
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 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. 54.26 |
|
|
1 |
Rs. 84.30 |
|
Euro |
1 |
Rs. 71.36 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
48 |
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 |
- |