MIRA
INFORM REPORT
|
Report Date : |
05.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ALCHEMY CO., LTD. |
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|
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|
Registered Office : |
102/269
Moo 7, Bangplee-Tamru Road, T. Bangpleeyai, A.
Bangplee, Samutprakarn
Province 10540 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
0705538000862 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Distributing and supplying
mobile podium with
audio system, as
well as IT
solutions. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
name
ALCHEMY CO., LTD.
SUMMARY
BUSINESS ADDRESS : 102/269 MOO 7, BANGPLEE-TAMRU ROAD,
T. BANGPLEEYAI, A. BANGPLEE,
SAMUTPRAKARN PROVINCE
10540
TELEPHONE : [66] 2316-0613, 2316-0615, 2316-0095
FAX : [66] 2316-0614
E-MAIL ADDRESS : sales@pdpodium.com
REGISTRATION ADDRESS : 61/4
SUKHUMVIT 26 ROAD,
KLONGTON,
KLONGTOEY, BANGKOK
10110
ESTABLISHED : 1995
REGISTRATION NO.
: 0705538000862 [Former : ROR BOR. 583]
CAPITAL
REGISTERED : BHT. 2,000,000
CAPITAL
PAID-UP : BHT. 2,000,000
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. JIRASATHIT CHITAPRASONG, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 6
LINES OF
BUSINESS : MOBILE PODIUM AND IT
SOLUTION
IMPORTER AND
DISTRIBUTOR
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 established
on August 7,
1995 as a
private limited company under the originally registered
name “S L Telecom Co.,
Ltd.” by Thai
groups. On January
31, 2002, subject
was changed its
name to be
ALCHEMY CO., LTD.,
with the business
objective to import
and distribute mobile
podium and IT
solution for domestic
market. It currently
employs 6 staff.
The
subject’s registered address
is 61/4 Sukhumvit
26 Rd., Klongton,
Klongtoey, Bangkok 10110,
while the current
operation address is
located at 102/269
Moo 7, Bangplee-Tamru Rd., Bangpleeyai, Bangplee, Samutprakarn 10540..
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Jirasathit Chitaprasong |
[x] |
Thai |
30 |
|
Ms. Manvika Surarat |
|
Thai |
32 |
AUTHORIZED PERSON
The mentioned director
[x] can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr.
Jirasathit Chitaprasong is
the Managing Director.
He is Thai nationality with
the age of
30 years old.
BUSINESS OPERATIONS
The subject is
engaged in distributing and supplying mobile
podium with audio
system, as well
as IT solutions.
IMPORT
Most
of the products are imported
from Germany, India and New Zealand.
SALES
The products are
sold locally by
wholesale to dealers
and end-users.
SUBSIDIARY AND
AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
nor affiliated company
here in Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
for the past
two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
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.
BANKING
Kasikornbank Public
Co., Ltd.
[Green Tower-Rama IV
Branch : 3656/3 Rama IV
Rd., Klongtoey, Klongtoey,
Bangkok]
EMPLOYMENT
The
subject employs 6
staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading address. Premise
is located in
industrial area.
COMMENT
The
subject operates a
small computer shop.
Subject is also
doing fair business
and coming up
with the effective
marketing strategy in
order to attract
the customers and
generate sale.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED WERE :
[as at April 30, 2006]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr.
Jirasathit Chitaprasong Nationality: Thai Address : 61/4
Sukhumvit 26 Rd.,
Klongton,
Klongtoey, Bangkok |
19,994 |
99.97 |
|
Mr. Santi Siriratprasert Nationality: Thai Address : 297-297/1-2 Bandontoom Rd., Banpong,
Ratchaburi |
1 |
|
|
Mrs. Wandee Siriratprasert Nationality: Thai Address : 297-297/1-2 Bandontoom Rd., Banpong,
Ratchaburi |
1 |
|
|
Ms. Pinrath Siriratprasert Nationality: Thai Address : 385
Songpol Rd., Banpong,
Ratchaburi |
1 |
= 0.03 |
|
Mr. Khemtat Siriratprasert Nationality: Thai Address : 41/1
Moo 5, Nong-or,
Banpong, Ratchaburi |
1 |
|
|
Ms. Kwanrak Siriratprasert Nationality: Thai Address : 61/4
Sukhumvit 26 Rd.,
Klongton,
Klongtoey, Bangkok |
1 |
|
|
Mr. Patinya Siriratprasert Nationality: Thai Address : 297-297/1-2 Bandontoom Rd., Banpong,
Ratchaburi |
1 |
|
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Col. Vichien Siriboon No. 0677
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2005 &
2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
|
|
|
|
|
Cash in hand
& at Bank
|
3,442,499.15 |
629,225.27 |
|
Inventories |
53,994.92 |
121,488.57 |
|
Trade Accts. Receivable
|
- |
167,187.50 |
|
Receivable-Revenue Department |
809.20 |
1,428.25 |
|
Other Current Assets
|
- |
1,000,000.00 |
|
Total Current
Assets |
3,497,303.27 |
1,919,329.59 |
|
|
|
|
|
Fixed Assets |
190,633.18 |
237,289.20 |
|
Total Assets |
3,687,936.45 |
2,156,618.79 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2005 |
2004 |
|
|
|
|
|
Payable Loan from
Financial Institute |
1,402,259.25 |
- |
|
Trade Accts. Payable |
- |
244,602.00 |
|
Accrued Expenses |
323,834.05 |
7,000.00 |
|
Total Current
Liabilities |
1,726,093.30 |
251,602.00 |
|
Total Liabilities |
1,726,093.30 |
251,602.00 |
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
Share capital : Baht 100 par value
authorized, issued
and fully paid share
capital 20,000 shares |
2,000,000.00 |
2,000,000.00 |
|
Capital Paid |
2,000,000.00 |
2,000,000.00 |
|
Retained Earning -
Unappropriated |
[38,156.85] |
[94,983.21] |
|
Total
Shareholders' Equity |
1,961,843.15 |
1,905,016.79 |
|
Total
Liabilities & Shareholders' Equity |
3,687,936.45 |
2,156,618.79 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2005 |
2004 |
|
|
|
|
|
Sales |
6,138,897.26 |
2,982,579.17 |
|
Interest Income |
- |
70.74 |
|
Total Revenues
|
6,138,897.26 |
2,982,649.91 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
4,662,302.55 |
2,090,796.18 |
|
Selling & Administrative Expenses |
1,412,530.39 |
923,672.37 |
|
Total Expenses |
6,074,832.94 |
3,014,468.55 |
|
Profit / [Loss] Before Income
Tax |
64,064.32 |
[31,818.64] |
|
Income Tax |
[7,237.96] |
- |
|
Net Profit / [Loss] |
56,826.36 |
[31,818.64] |
|
Retained Earning [deficit], beginning
of year |
[94,983.21] |
[63,164.57] |
|
Retained Earning [deficit], end
of year |
[38,156.85] |
[94,983.21] |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2005 |
2004 |
|
Net Sales |
105.83 |
|
|
Operating Profit |
[197.82] |
|
|
Net Profit |
278.59 |
|
|
Fixed Assets |
[19.66] |
|
|
Total Assets |
71.01 |
|
|
Profitability |
|
|
|
Cost of Good
Sold |
75.95 |
70.10 |
|
Operating Profit Margin |
1.04 |
[1.07] |
|
S & A
Expenses |
23.01 |
30.97 |
|
Other Revenues |
0.00 |
0.00 |
|
Net Profit Margin |
0.93 |
[1.07] |
|
Earning Per Shares |
2.84 |
[1.59] |
|
No. of Shares |
20,000 |
20,000 |
Net Sales was
increased by 105.83%,
Operating Profit was
decreased by 197.82%,
Net Profit was
increased by 278.59%,
Fixed Assets was
decreased by 19.66%,
Total Assets was
increased by 71.01%.
Compare each cost
with sales, Cost of
Good Sold was
increased from 70.10%
to 75.95%, Operating
Profit Margin was
increased from -1.07%
to 1.04%, S
& A Expenses
was decreased from
30.97% to 23.01%,
Other Revenues was
decreased from 0.00%
to 0.00%, Net
Profit Margin was
increased from -1.07%
to 0.93%.
Earning Per Shares
was increased from
-1.59 baht per
share to 2.84
baht per share.
Liquidity
|
Liquidity |
2005 |
2004 |
|
Current Ratio |
2.03 |
7.63 |
|
Quick-Assets Ratio |
1.99 |
3.17 |
Current Ratio was
decreased from 7.63
to 2.03, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, Quick-Assets Ratio
was decreased from
3.17 to 1.99,
capacity to pay
Short Term Loan
was good too,
because Current Assets
without Inventory can
cover Current Liabilities.
Leverage
|
Leverage |
2005 |
2004 |
|
D/E Ratio |
0.88 |
0.13 |
D/E Ratio was increased from
0.13 to 0.88,
show the company
had fund from
Equity more than
fund from Loan,
investment risked of
the company is
low.
Efficiency
|
Efficiency |
2005 |
2004 |
|
Fixed Assets Turnover |
32.20 |
12.57 |
|
Total Assets Turnover |
1.66 |
1.38 |
|
Return on Assets |
1.54 |
[1.48] |
|
Return on Equity |
2.90 |
[1.67] |
|
Day's Payable |
0.00 |
29.52 |
|
Day’s Inventories |
3.17 |
14.66 |
|
Day’s Receivables |
0.00 |
20.18 |
Fixed Assets Turnover
was increased from
12.57 times to
32.20 times, Total
Assets Turnover was
increased from 1.38
times to 1.66
times, show the
company could use
Assets so efficiently, Return on Assets
was increased from
-1.48 to 1.54,
Return on Equity
was increased from
-1.67 to 2.90,
capacity to use
Assets to make
profit was good.
Day's Payable was
decreased from 30
days to 0
days, Day’s Inventories
was decreased from
15 days to
4 days, and
Day’s Receivables was
decreased from 21
days to 0
days.
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)