MIRA INFORM REPORT

Report Date :

13.05.2013

IDENTIFICATION DETAILS

Name :	EASTCOAST AGRO OIL INDUSTRIES PRIVATE LIMITED
Registered Office :	46/1B, Diamond Harbour Road, Kolkata – 700 027, West Bengal
Country :	India
Financials (as on) :	31.03.2012
Date of Incorporation :	17.05.1984
Com. Reg. No.:	21-037496
Capital Investment / Paid-up Capital :	Rs. 32.950 Millions
CIN No.: [Company Identification No.]	U27209WB1984PTC037496
TAN No.: [Tax Deduction & Collection Account No.]	CALS09224F
PAN No.: [Permanent Account No.]	AAHCS1989C
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of wide assortment of agro oils such as Refined Oil, Sesame Oil, Rice Bran Oil, etc.
No. of Employees :	25 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 110000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track record. There appear some accumulated losses being recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some cautions.

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.

INFORMATION PARTED BY

Name :	Mr. Saroj
Designation :	Accountant
Contact No.:	91-33-24493712
Date :	08.05.2013

LOCATIONS

Registered Office :	46/1B, Diamond Harbour Road, Kolkata–700027, West Bengal, India
Tel. No.:	91-33-24493712/ 24497383/ 24494962
Mobile No.:	91-9830035398 (Mr. Dravindar Singh)
Fax No.:	91-33-24493718
E-Mail :	berhampur@vsnl.net shaw.santoshkr@gmail.com
Area :	2000 sq ft
Location :	Rented

DIRECTORS

AS ON 29.09.2012

Name :	Mr. Dravinder Singh
Designation :	Director
Address :	385A, Block-G, New Alipore, Kolkata–700053, West Bengal, India
Date of Birth/Age :	27.11.1973
Qualification :	CA
Date of Appointment :	20.07.2000
DIN No.:	00254463

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	Company/ LLP Status	Defaulting status
1	U63090WB1996PTC079419	LINK ROADLINES PRIVATE LIMITED	Director	19-04-96	19-04-96	Active	NO
2	U60100WB1996PTC079560	LONGIA ROAD CARRIERS PRIVATE LIMITED	Director	16-05-96	16-05-96	Active	NO
3	U65929WB1994PTC061779	TATPAR RESOURCES PRIVATE LIMITED	Director	07-02-97	07-02-97	Active	NO
4	U74999OR1990PLC002603	EAST COAST TRADFIN LIMITED	Director	01-04-97	01-04-97	Active	NO
5	U27209WB1984PTC037496	EASTCOAST AGRO OIL INDUSTRIES PRIVATE LIMITED	Director	20-07-00	20-07-00	Active	NO
6	U51491WB1992PTC054919	LONGIA MOTORS PRIVATE LIMITED	Director	20-07-00	20-07-00	Active	NO

Name :	Mr. Jujhar Gian Singh
Designation :	Managing Director
Address :	385A, Block-G, New Alipore, Kolkata–700053, West Bengal, India
Date of Birth/Age :	23.03.1951
Qualification :	Graduate
Date of Appointment :	20.07.2000
DIN No.:	00254420

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	Company/ LLP Status	Defaulting status
1	U63090WB1996PTC079419	LINK ROADLINES PRIVATE LIMITED	Managing director	19-04-96	19-04-96	Active	NO
2	U60100WB1996PTC079560	LONGIA ROAD CARRIERS PRIVATE LIMITED	Managing director	16-05-96	16-05-96	Active	NO
3	U65929WB1994PTC061779	TATPAR RESOURCES PRIVATE LIMITED	Managing director	07-02-97	07-02-97	Active	NO
4	U74999OR1990PLC002603	EAST COAST TRADFIN LIMITED	Managing director	01-04-97	01-04-97	Active	NO
5	U27209WB1984PTC037496	EASTCOAST AGRO OIL INDUSTRIES PRIVATE LIMITED	Managing director	20-07-00	20-07-00	Active	NO
6	U51491WB1992PTC054919	LONGIA MOTORS PRIVATE LIMITED	Managing director	20-07-00	20-07-00	Active	NO

Name :	Mr. Ajaib Singh
Designation :	Director
Address :	385A, Block-G, New Alipore, Kolkata–700053, West Bengal, India
Date of Birth/Age :	20.06.1982
Date of Appointment :	23.05.2006
DIN No.:	00254509

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	Company/ LLP Status	Defaulting status
1	U51491WB1992PTC054919	LONGIA MOTORS PRIVATE LIMITED	Director	31-01-01	31-01-01	Active	NO
2	U60100WB1996PTC079560	LONGIA ROAD CARRIERS PRIVATE LIMITED	Director	29-03-06	29-03-06	Active	NO
3	U63090WB1996PTC079419	LINK ROADLINES PRIVATE LIMITED	Director	29-03-06	29-03-06	Active	NO
4	U74999OR1990PLC002603	EAST COAST TRADFIN LIMITED	Director	23-05-06	23-05-06	Active	NO
5	U27209WB1984PTC037496	EASTCOAST AGRO OIL INDUSTRIES PRIVATE LIMITED	Director	23-05-06	23-05-06	Active	NO
6	U65929WB1994PTC061779	TATPAR RESOURCES PRIVATE LIMITED	Director	23-05-06	23-05-06	Active	NO

Name :	Mr. Harbans Gian Singh
Designation :	Director
Address :	385A, Block-G, New Alipore, Kolkata – 700 053, West Bengal, India
Date of Birth/Age :	28.10.1956
Qualification :	Graduate
Date of Appointment :	22.06.2006
DIN No.:	00254490

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	Company/ LLP Status	Defaulting status
1	U74999OR1990PLC002603	EAST COAST TRADFIN LIMITED	Director	28-09-94	28-09-94	Active	NO
2	U60100WB1996PTC079560	LONGIA ROAD CARRIERS PRIVATE LIMITED	Director	16-05-96	16-05-96	Active	NO
3	U63090WB1996PTC079419	LINK ROADLINES PRIVATE LIMITED	Director	01-04-97	01-04-97	Active	NO
4	U65929WB1994PTC061779	TATPAR RESOURCES PRIVATE LIMITED	Director	23-03-01	23-03-01	Active	NO
5	U27209WB1984PTC037496	EASTCOAST AGRO OIL INDUSTRIES PRIVATE LIMITED	Director	22-06-06	22-06-06	Active	NO

KEY EXECUTIVES

Name :	Mr. Saroj
Designation :	Accountant

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 29.09.2012

Names of Shareholders	No. of Shares
Jujhar Singh	2200
Dravinder Singh	3775
Concast Tie-Up Private Limited, India	10625
Rebati Agencies Private Limited, India	3125
Varsha Merchants Private Limited, India	17500
Rangila Vanijya Private Limited, India	4375
Ospak Marcantile Private Limited, India	1250
Radix Vanijya Private Limited, India	1875
Venkatesh Tie-Up Private Limited, India	1250
Castor Merchants Private Limited, India	5625
Derris Tie-Up Private Limited, India	2875
Anticlock Vyapaar Private Limited, India	17500
Forte Tie-Up Private Limited, India	1875
Baizi Mercantile Private Limited, India	7250
Harbans Singh	300
Ajaib Singh	300
Castor Merchants Private Limited, India	4000
Varsha Merchants Private Limited, India	5000
Baiji Mercantile Private Limited, India	3500
Eastcoast Tradefin Limited, India	126900
Tatpar Resources Private Limited, India	108400
TOTAL	329500

AS ON 30.03.2013

Names of Allottees	No. of Shares
Jujhar Singh	5000
Jaspal Kaur	5000
Dravinder Singh	5000
Link Roadlines Private Limited, India	10000
Longia Road Carriers Private Limited, India	10000
Manjit Kaur	5000
Harbans Singh	5000
Ajaib Singh	5000
Eastcoast Tradefin Limited, India	25000
Tatpar Resources Private Limited, India	25000
TOTAL	100000

AS ON 29.09.2012

Equity Shares Break Up	Percentage of Holding
Bodies corporate	98.00
Directors or relatives of Directors	2.00
TOTAL	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer and Supplier of wide assortment of agro oils such as Refined Oil, Sesame Oil, Rice Bran Oil, etc.
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

PRODUCTION STATUS: (31.03.2011)

Particulars	Unit	Licensed Capacity	Installed Capacity	Actual Production
a) Refined Edible Oil	MT	50.000 per day	50.000 per day	2128.185
b) Fatty Acid (By Products)	MT	--	--	56.271

GENERAL INFORMATION

Suppliers :

· BN Export

Customers :

• Manuj Company

· BN Export

No. of Employees :

25 (Approximately)

Bankers :

• Indian Overseas Bank, Jawaharlal Nehru Road Branch, 35/1, Jawaharlal Nehru Road, Kolkata – 700 071, West Bengal, India
• Allahabad Bank, Barisa Branch, 5, D.H. Road, Kolkata - 700008, West Bengal, India
• UCO Bank, Burrobazar Branch, 1, SA 1, Sambhu Mullick Lane, Kolkata – 700 023, West Bengal, India
• HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India

Facilities :

Secured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Long Term Borrowings
Term Loan from Allahabad Bank, Barisha Branch (Secured against Land, Building and Plant and Machinery)	6.418	13.852
Term of repayment The period maturity with respect to a) Balance sheet date (31.03.2012) is 23 months hence b) 23 number of installments were due on 31.03.2012 c) Amount of installments due was Rs. 12.193 Millions d) The rate of interest on this loan was 13.50 on the Balance Sheet date. e) There was no continuing defaults in repayment on Balance Sheet date.
Short Term Borrowings
Loans repayable on demand
Cash Credit Loans from Allahabad Bank (Secured against hypothecation of stocks and debtors)	20.597	20.535
Cash Credit Loans from Allahabad Bank (Secured against hypothecation of stock and Trade Receivable)	2.200	0.000
TOTAL	29.215	34.387

Banking Relations :	--
Auditors :
Name :	A. Pradhan and Associates Chartered Accountants
Address :	28 B, K P Lane, Hazra, Kolkata-700026, West Bengal, India
PAN No.:	AALFA5301K
Related Parties :	· Longia Motors Private Limited · Link Roadlines Private Limited

CAPITAL STRUCTURE

AS ON 31.03.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
350000	Equity Shares	Rs.100/- each	Rs. 35.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
329500	Equity Shares	Rs.100/- each	Rs. 32.950 Millions

AS ON 29.09.2012

Authorised Capital :

No. of Shares	Type	Value	Amount
450000	Equity Shares	Rs.100/- each	Rs. 45.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
429500	Equity Shares	Rs.100/- each	Rs. 42.950 Millions

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		32.950	32.950	9.420
2] Share Application Money		0.000	0.000	2.830
3] Reserves & Surplus		(4.417)	(8.314)	4.580
4] (Accumulated Losses)		0.000	0.000	(14.159)
NETWORTH		28.533	24.636	2.671
LOAN FUNDS
1] Secured Loans		29.215	34.387	44.719
2] Unsecured Loans		4.230	4.470	26.730
TOTAL BORROWING		33.445	38.857	71.449
DEFERRED TAX LIABILITIES		1.826	1.041	0.000
TOTAL		63.804	64.534	74.120
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		46.658	49.182	51.636
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.520	0.520	0.520
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	16.696	15.884	20.761
	Sundry Debtors	7.710	7.026	14.789
	Cash & Bank Balances	5.254	6.483	6.421
	Other Current Assets	0.994	0.770	0.026
	Loans & Advances	4.353	2.946	5.989
Total Current Assets		35.007	33.109	47.986
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	6.803	8.250	26.073
	Other Current Liabilities	11.578	10.027	0.000
	Provisions	0.000	0.000	0.015
Total Current Liabilities		18.381	18.277	26.088
Net Current Assets		16.626	14.832	21.898
MISCELLANEOUS EXPENSES		0.000	0.000	0.026
SHARE ISSUE EXPENSE		0.000	0.000	0.040
TOTAL		63.804	64.534	74.120

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
SALES
	Income	NA	146.940	99.260
	Other Income	NA
	TOTAL	NA	146.940	99.260
EXPENSES
	Office Expenses	NA	144.635	103.673
	Administrative Expenses
	Advertising Expenses
	TOTAL	NA	144.635	103.673
PROFIT / (LOSS) BEFORE TAX		4.683	2.305	(4.413)
TAX		0.786	1.041	(0.399)
PROFIT / (LOSS) AFTER TAX		3.897	1.264	(4.014)
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(12.894)	(14.158)	(10.144)
BALANCE CARRIED TO THE B/S		(4.416)	(12.894)	(14.158)
Earnings Per Share (Rs.)		11.82	3.84	(42.62)

Particulars	31.03.2013
Sales Turnover (Approximately)	150.000

The above information has been parted by Mr. Saroj

KEY RATIOS

PARTICULARS		31.03.2012	31.03.2011	31.03.2010
PAT / Total Income	(%)	NA	0.86	(4.04)
Return on Total Assets (PBT/Total Assets}	(%)	5.73	2.80	(4.43)
Return on Investment (ROI) (PBT/Networth)		0.16	0.09	(1.65)
Debt Equity Ratio (Total Debt /Networth)		1.17	1.58	26.75
Current Ratio (Current Asset/Current Liability)		1.90	1.81	1.84

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	Yes
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 two 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	Yes
18]	Major customers	Yes
19]	Payments terms	Yes
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	No
33]	Voter ID No of Proprietor/Partner/Director, if available	No
34]	External Agency Rating, if available	No

Unsecured Loan	Rs. In Millions 31.03.2012	Rs. In Millions 31.03.2011
Short Term Borrowings
Loans and Advances
From Related Parties : Body Corporate	3.480	3.980
From Directors	0.350	0.490
From Other – Body Corporate	0.400	0.000
TOTAL	4.230	4.470

FORM 8

Corporate identity number of the company	U27209WB1984PTC037496
Name of the company	EASTCOAST AGRO OIL INDUSTRIES PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	46/1B, Diamond Harbour Road, Kolkata – 700 027, West Bengal, India E-Mail: berhampur@vsnl.net
This form is for	Modification of charge
Charge identification number of the charge to be modified	10082778
Type of charge	· Immovable property · Book debts · Movable property (not being pledge) · Floating charge · Others
Particular of charge holder	Allahabad Bank, Barisa Branch, 5, D.H. Road, Kolkata - 700008, West Bengal, India
Nature of instrument creating charge	Supplemental Letter of Mortgagor Confirming Deposit of Title Deeds
Date of instrument Creating the charge	01.03.2013
Amount secured by the charge	Rs. 40.400 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of interest The Rate of Interest is 5.50% per annum over Allahabad Bank`s Base Rate which at present 10.20% per annum with Monthly rest. Terms of repayment For tern loan - As existing (Quarterly installment of 1.570 Millions.) For CC - On demand Margin For Term Loan- As Existing For Cash Credit- 25% on paid Stocks and 40% on Book Debts Extent and operation of the charge The charge extends by creation of hypothecation on all tangible movable machineries, plant, fixture, fittings, vehicles, the whole of co's movable goods and assets including stock of raw material, WIP, semi finished and finished goods, consumable stores and spares, all the book debts, outstanding, moneys receivable, claims, bills, contracts which are now due and owing and equitable mortgage of property situated at Mouza - Argori, JL No. 27, PS - Sankrail, District - Howrah by deposit of title deeds. Other Period of sanction: For Term Loan - as existing For CC - One year
Short particulars of the property charged (Including location of the property)	All tangible movable machineries, plant, machinery fixture, fittings, other installations, cranes, furniture, computers and other accessories and all other articles lying in the premises at 46/1B, Diamond Harbour Road, Kolkata- 700 027 and/or its Godown /Factory/Site at Vill. and P.O. Argori, NH-6, Jangalpur, District Howrah, PIN 711 302 or in any other Godown of the Company. The whole of the Company`s moveable goods and assets, both present and future and including all stock of raw materials, WIP, semi-finished goods and finished goods All the present and future book debts, outstanding, moneys receivable, claims, bills contracts, engagements and securities which are now due and owing or which may at any time hereafter during the continuance of these securities become due and owing to the Company in the course of its business by any person, firm, Company or body corporate or by the Government of India or any State Government or Indian Railways or any Government Department or Office or any Municipal or Local or public or semi Government body or authority including those relating to the Assets leased out and/or given on hire purchase basis. Equitable mortgage by deposit of title deeds of all that piece and parcel of land situated at Mouza - Argori JL no. 27 within RS Dag No. 235, LR Dag No. 233, LR Khatian No. 615/1,637/1,1003/2,1885/1, admeasuring 1.01 decimal, RS Dag No. 249, LR Dag No. 237, LR Khatian No. 615/1, 637/1, 1003/2, 1885/1, 3057 admeasuring 3.27 decimal, RS Dag No. 253, RS Khatian No. 831, LR Dag No. 257, LR Khatian No. 2141 admeasuring 1.67 decimal totaling admeasuring 5.95 decimal.
Date of instrument modifying the charge	28.02.2013
Particulars of the present modification	By this modification equitable mortgage is created on the immovable properties of the company by deposit of title deeds to secure the credit facilities. All other terms and conditions remained the same.

FIXED ASSETS

· Land (Rampur)

· Factory Land

· Factory Shed and Building

· Plant and Machinery

· Furniture and Fixture

· Computer

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. 54.54
UK Pound	1	Rs. 84.19
Euro	1	Rs. 71.10

INFORMATION DETAILS

Information Gathered by :	JML
Report Prepared by :	DPT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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	-

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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