Attachment 1
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Report
Update On |
12th April, 2002 |
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Report on |
AEROTEK CO., LIMITED |
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Registered Office |
1756 SOI Sukhumvit 52, Sukhumvit Road, Bangjark, Prakanong, Bangkok
10250, Thailand |
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Tel. No. |
(66) 2332-5035, 2311-4448 |
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Fax No. |
(66) 2332-5034 |
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E-Mail |
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Telex |
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Attachment 2
SUMMARY
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Incorporated |
1989 |
Status |
Satisfactory |
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Registration No. |
432/2532 |
Chief Executive |
Mr. Chanintr Jantarapoo-tirat |
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Capital (BHT) |
11,000,000 |
Payments |
No Complaints |
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Sales (BHT) |
21,603,316 |
Litigation |
Clear |
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Net Worth (BHT) |
13,884,117 |
Banking Reputation |
Satisfactory |
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No. of Employees |
70 |
Auditors |
Mrs. Puangpen Sriyakorn |
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Credit Rating |
Ba (See attachment 3) |
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SUMMARY
BUSINESS ADDRESS : 1756 SOI SUKHUMVIT 52, SUKHUMVIT
ROAD,
BANGJARK, PRAKANONG,
BANGKOK 10250,
THAILAND
TELEPHONE : [66] 2332-5035, 2311-4448
FAX : [66] 2332-5034
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1989
REGISTRATION NO.
: 432/2532
CAPITAL
REGISTERED : BHT. 11,000,000
CAPITAL
PAID-UP : BHT.
11,000,000
FISCAL
YEAR CLOSING DATE : AUGUST 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
CHANINTR JANTARAPOOTIRAT, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 70
LINES OF
BUSINESS : ELECTRICAL INSULATORS AND
INSULATING FITTINGS
MANUFACTURER &
DESIGNER
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CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD WITH NORMAL BUSINESS ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH FAIR PERFORMANCE
HISTORY
The subject
was formed on
January 16, 1989
as a private limited company
by Thai group,
Jantarapootirat family.
The subject
received the International Standard ISO 9001
certificated by TUV,
U.S.A. in 2001.
THE BOARD OF
DIRECTOR
|
Name |
Age |
Nationality |
|
Mr. Chanintr
Jantarapootirat [x] |
47 |
Thai |
|
Mr. Wisut
Jantarapootirat |
43 |
Thai |
AUTHORIZED PERSON
The mentioned
director [x] can
sign on behalf
of the subject with company’s
affixed.
MANAGEMENT
Mr. Chanintr
Jantarapootirat, a Thai
is the Managing Director.
Mr. Wisut
Jantarapootirat, a Thai
is the General Manager.
Mr. Suthee
Taimuang, a Thai
is the Factory Manager.
BUSINESS OPERATIONS
The subject
is engaged in
developing designing and
manufacturing high quality
insulators and circulators
for commercial, military
and space, use
in microwave telecommunications.
Its products
range includes coaxial,
drop-in, microstrip and
lump element devices.
IMPORT [COUNTRIES]
Its raw
material mainly electrical
& electronic parts
are imported from
U.S.A., Japan, Germany,
Hong Kong, China
& Singapore.
EXPORT [COUNTRY]
100% of
its products is
exported to Italy,
U.K., France, Switzerland, Germany, India, Japan
and Australia.
CREDIT
Local bills
are paid by
cash or on
the credits term
of 30-60 days.
Imports are
by L/C at sight or
T/T.
Exports are
against L/C at
sight or T/T.
BANKING
Bangkok Bank
Public Co., Ltd. : [ Bangjark
Branch ]
Thai Farmers
Bank Public Co.,
Ltd. : [ Suksawad
Branch ]
Krung Thai
Bank Public Co.,
Ltd. : [ Head Office :
Sukhumvit Road ]
Siam Commercial
Bank Public Co.,
Ltd. : [ Bangjark Branch ]
EMPLOYMENT
The subject
employs approximately 70
staff. [office staff
& factory workers]
LOCATION DETAILS
The premise
is owned for
operating office &
factory at the
heading address in
a commercial / residential area.
REMARK
CREDIT OF
US$ 125,000 D/A
ON 90 DAYS SHOULD BE
IN ORDER.
COMMENT
The company
is efficiency in
doing its task
successfully. It is
remained optimistic and
expected sales would
continue growing this
year.
FINANCIAL
INFORMATION
The capital
was registered at
Bht. 6,000,000 divided
into 6,000 shares
of Bht. 1,000
each.
On April
22, 1992 capital
was increased to
Bht. 11,000,000 divided
into 11,000 shares of Bht. 1,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [ as at June
11, 2001 ]
|
NAME |
HOLDING |
% |
|
Mr. Chanintr
Jantarapootirat |
8,150 |
74.10 |
|
Ms. Kuakul
Jantarapootirat |
550 |
5.00 |
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Mrs. Kesorn
Homkajorn |
500 |
4.54 |
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Ms. Sinee
Jantarapootirat |
500 |
4.54 |
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Mr. Kamthorn
Jantarapootirat |
500 |
4.54 |
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Mr. Wisut
Jantarapootirat |
500 |
4.54 |
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Mr. Kittisak
Chalorkulthamrong |
300 |
2.74 |
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Total
Shareholders : 7
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Puangpen
Sriyakorn No. 672
BALANCE SHEET [BAHT]
The latest financial
figures published for
August 31, 2000
& 1999 were:
ASSETS
|
Current
Assets |
2000 |
1999 |
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Cash in
hand & at
Bank [Note 1]
|
2,586,248.91 |
3,278,380.26 |
|
Trade Accts.
Receivable - Overseas |
2,357,430.31 |
1,311,639.17 |
|
Receivable - Revenue
Department |
342,149.29 |
789,192.06 |
|
Inventories [Note
2] |
12,827,848.65 |
12,451,754.15 |
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Total Current Assets |
18,113,677.16 |
17,830,965.64 |
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Investment |
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Fixed
Assets |
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Factory
Machinery & Equipment |
8,505,455.43 |
7,749,221.78 |
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Factory
Materials & Tools |
2,417,959.05 |
2,417,959.05 |
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Office
Equipment |
1,043,297.42 |
995,544.78 |
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Computer
& Equipment |
1,680,406.29 |
1,130,403.29 |
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Fixtures |
70,716.00 |
70,716.00 |
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Building |
1,130,587.08 |
1,130,587.08 |
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Building
& Improvement |
288,100.00 |
288,100.00 |
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Total |
15,136,521.27 |
13,782,531.98 |
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Less:
Depreciation |
[11,279,545.78] |
[9,877,616.78] |
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Fixed
Assets - Net |
3,856,975.49 |
3,904,915.20 |
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Other
Assets |
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Withholding Income Tax |
5,171.47 |
1,617.84 |
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Guarantees |
408,791.00 |
356,591.00 |
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Deposit |
21,800.00 |
15,800.00 |
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Deferred
Business Tax |
4,917.15 |
4,375.45 |
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Prepaid
Goods Expenses |
200,093.95 |
- |
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Prepaid
Insurance Premium |
- |
1,401.00 |
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Prepaid
Income Tax |
63,750.00 |
- |
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Total |
704,523.57 |
- |
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Total Assets |
22,675,176.22 |
22,115,666.13 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2000 |
1999 |
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Bank Overdraft
|
- |
1,769,803.06 |
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Payable -
Revenue Department |
1,091.51 |
- |
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Posted Date
Cheque |
443,021.74 |
3,320,576.37 |
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Trade Accts.
Payable |
383,202.35 |
115,032.60 |
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Withholding Income
Tax |
23,297.02 |
578,489.04 |
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Withholding Social
Security |
12,319.00 |
8,022.00 |
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Accrued Expenses |
5,810,868.25 |
3,243,723.52 |
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Total Current Liabilities |
6,673,799.87 |
9,035,646.59 |
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Payable Loans |
2,117,259.00 |
242,259.00 |
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Total Liabilities |
8,791,058.87 |
9,277,905.59 |
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Shareholders' Equity |
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Share
capital : Baht 1,000 value
authorized, issued and fully
paid
share capital 11,000
shares |
11,000,000.00 |
11,000,000.00 |
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Capital Paid |
11,000,000.00 |
11,000,000.00 |
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Retained Earning - Unappropriated |
2,884,117.35 |
1,837,760.54 |
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Total Shareholders' Equity |
13,884,117.35 |
12,837,760.54 |
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Total Liabilities & Shareholders' Equity |
22,675,176.22 |
22,115,666.13 |
PROFIT &
LOSS ACCOUNT
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Revenue |
2000 |
1999 |
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Sales |
21,603,316.90 |
14,910,642.48 |
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Less: Discount
Payable |
[9,936.22] |
[6,871.17] |
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Interest Income |
385,911.77 |
104,504.63 |
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Gain from
Exchange Rate |
138,592.10 |
- |
|
Other Income |
223.00 |
13,880.68 |
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Total Revenues |
22,118,107.55 |
15,022,156.62 |
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Expenses |
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Cost of
Goods Sold |
13,583,439.19 |
9,558,838.03 |
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Selling &
Administrative Expenses |
6,916,924.94 |
5,022,479.34 |
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Interest Expenses |
52,367.30 |
80,021.93 |
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Income Tax |
516,875.29 |
130,439.65 |
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Total Expenses |
21,069,606.72 |
14,791,778.95 |
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Net Profit / [Loss] |
1,048,500.83 |
230,377.67 |
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Retained Earning, beginning of
year |
1,837,760.54 |
1,607,382.87 |
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Less: Adjustment |
[2,144.02] |
- |
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Retained Earning, end of
year |
2,884,117.35 |
1,837,760.54 |
FINANCIAL NOTE YEAR
2000
NOTE 1 Cash in
hand & at
bank
|
|
2000 |
|
Cash at
bank - Saving Account |
1,776,601.69 |
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- Fixed Account |
66,251.33 |
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- Current Account |
682,840.39 |
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Cash in
hand |
50,655.50 |
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Cash at
Export and Import
Banking of Thailand |
9,900.00 |
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Total |
2,586,248.91 |
NOTE 2 Inventories
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|
2000 |
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Raw Material |
8,170,937.61 |
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Works in
Progress |
3,560,507.98 |
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Material Supplies |
1,059,263.36 |
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Packaging Material |
37,139.70 |
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Total |
12,827,848.65 |
FINANCIAL ANALYSIS
Annual Growth &
Profitability
|
Annual Growth |
2000 |
1999 |
|
Sales |
44.89 |
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|
Operating |
4.53 |
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Net Profit |
355.12 |
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Fixed Assets |
[1.23] |
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Total Assets |
2.53 |
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Profitability |
|
|
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Cost of
Goods Sold |
62.88 |
64.11 |
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Operating Profit
Margin |
37.12 |
35.89 |
|
S&A expenses |
32.02 |
33.68 |
|
Interest |
0.24 |
0.54 |
|
Other Revenues |
2.38 |
0.75 |
|
Net Profit
Margin |
4.85 |
1.55 |
|
Earning Per
Shares |
95.32 |
20.94 |
|
No. of
Shares |
11,000 |
11,000 |
Net Sales was increased by 44.89%, Operating Profit was increased by 4.53%, Net Profit was increased by 355.12%, Fixed Assets was decreased by 1.23%, Total Assets was increased by 2.53%.
Compare each cost with sales, Cost of Goods Sold was decreased from 64.11% to 62.88%, Operating Profit Margin was increased from 35.89% to 37.12%, S & A Expenses were decreased from 33.68% to 32.02%, Interest Paid was decreased from 0.54% to 0.24%, Other Revenues was increased from 0.75% to 2.38%, Net Profit Margin was increased from 1.55% to 4.85%.
Earning Per Shares was
increased from 20.94
baht per share
to 95.32 baht
per share.
Liquidity
|
Liquidity |
2000 |
1999 |
|
Current Ratio |
2.71 |
1.97 |
|
Quick -
assets ratio |
0.79 |
0.60 |
Current Ratio was increased
from 1.97 to
2.71, Liquidity Ratio
of the company was so
good, and Quick-assets Ratio was increased
from 0.60 to
0.79, capacity to
pay Short Term
Loan was not
good.
Leverage
|
Leverage |
2000 |
1999 |
|
D/E Ratio |
0.63 |
0.72 |
|
Times Interest
Earned |
21.06 |
4.12 |
D/E Ratio was decreased from 0.72 to 0.63, show the company had fund from Equity more than fund from Loan, while Times Interest Earned was increased from 4.12 to 21.06, capacity to pay interest paid was so good.
Efficiency
|
Efficiency |
2000 |
1999 |
|
Fixed Assets
Turnover |
5.60 |
3.82 |
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Total Assets
Turnover |
0.95 |
0.67 |
|
Return on
Assets |
4.62 |
1.04 |
|
Return on
Equity |
7.55 |
1.79 |
|
Day’s Payable |
10.30 |
4.39 |
|
Day’s Inventories |
344.70 |
475.46 |
|
Days’ Receivables |
39.83 |
32.11 |
Fixed Assets Turnover was increased from 3.82 times to 5.60 times, Total Assets Turnover was increased from 0.67 times to 0.95 times, show the company could use Assets so efficiently, and Return on Assets was increased from 1.04 to 4.62, Return on Equity was increased from 1.79 to 7.55, capacity to use Assets to make profit was so good.
Day’s Payable was increased
from 5 days to 11
days, while Day’s
Inventories was decreased
from 476 days
to 345 days, but Day’s
Receivables was increased
from 33 days
to 40 days.
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an
extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
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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. Maybe drawn to
slightly difficult position as unfavourable conditions arise. Minimal
assurance for timely payment on interest and principal sums |
Moderate |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively limited or considered
not known. Capability to pay both interest and principal sums is doubtful |
Small |
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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 |
Attachment 4
ACKNOWLEDGEMENT
Dear Sir/Madam,
As part of our control
system, please fax/email us this note
upon receipt of this report. If we do not receive the acknowledgement within 24
hours, we will assume that our report meets your requirement. If you have any
suggestion to help us improve our reports and services, please do not hesitate
to let us know.
Thank you.
______________________________________________________________________________
To : MIRA INFORM PRIVATE
LIMITED
From :
To :
Feedback – Please tick
the appropriate box.
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GOOD |
FAIR |
POOR |
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Further Comments/Suggestion :
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Company’s Stamp &
Signature