MIRA
INFORM REPORT
|
Report Date : |
10.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
HANDLING SUPERVISION CO., LTD. |
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Registered Office : |
19/259 Moo 10,
Charansanitwong Road,
Bangwaek, Pasicharoen, Bangkok
10160 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
0105546069251 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Provide financial support and
investment in domestic
market. |
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 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
name
HANDLING SUPERVISION CO., LTD.
SUMMARY
BUSINESS ADDRESS : 19/259 MOO 10, CHARANSANITWONG ROAD,
BANGWAEK, PASICHAROEN, BANGKOK 10160
TELEPHONE : [66] 081-901-2070
FAX : [66] 2535-4864
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2003
REGISTRATION NO.
: 0105546069251
CAPITAL
REGISTERED : BHT. 1,000,000
CAPITAL
PAID-UP : BHT. 1,000,000
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : -
NO. OF
STAFF : -
LINES OF
BUSINESS : FINANCIAL SUPPORT AND INVESTMENT
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 June 17,
2003 as a
private limited company under the name style
HANDLING SUPERVISION CO.,
LTD. by Thai
groups.
The
subject’s registered address
is 19/259 Moo
10, Charansanitwong Rd.,
Bangwaek, Pasicharoen, Bangkok
10160, and this
is the subject’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somyos Krachangwong |
|
Thai |
55 |
|
Ms. Vatcharee Prateepmethakul |
|
Thai |
31 |
|
Ms. Prapaporn Buahaim |
|
Thai |
30 |
|
Ms. Nathaporn Punyatalang |
|
Thai |
28 |
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
BUSINESS OPERATIONS
The
subject declared to
the Commercial Registered
Department for its business objective to provide financial support and investment in
domestic market. However,
the subject was
not disclosed its
company information due
to the subject’s policy.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading address in
shop house. Premise is
located in commercial/residential area.
COMMENT
The subject
denied to provide
any information during
an interview due
to its policy to keep
company’s information confidential.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht. 100 each with fully
paid.
THE SHAREHOLDERS LISTED WERE :
[as at April 30, 2006]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Somyos Krachangwong Nationality: Thai Address : 26/416
Moo 5, Saimai,
Bangkok |
2,500 |
25.00 |
|
Mr. Varot Pinapaet Nationality: Thai Address : 86
Moo 6, Banmor,
Muang, Petchburi |
1,250 |
12.50 |
|
Ms.
Nathaporn Boonyatalang Nationality: Thai Address : 19/259
Moo 10, Bangwaek,
Pasicharoen, Bangkok |
1,250 |
12.50 |
|
Ms.
Vatcharee Prateepmethakul Nationality: Thai Address : 10
Kanchanavanit Rd., Sadao,
Songkhla |
1,250 |
12.50 |
|
Mrs. Supaphan Pinyomitr Nationality: Thai Address : 150
Suthisarn Rd., Dindaeng,
Bangkok |
1,250 |
12.50 |
|
Ms.
Vanisara Luechakan Nationality: Thai Address : 114
Moo 2, Lansaka,
Nakornsrithammarat |
1,250 |
12.50 |
|
Ms.
Prapaporn Buahaim Nationality: Thai Address : 19/259
Moo 10, Bangwaek,
Pasicharoen, Bangkok |
1,250 |
12.50 |
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Mr. Mangkorn Kanchanasai No. 3467
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2005 &
2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
|
|
|
|
|
Cash in hand
& at Bank [note 1] |
465,563.29 |
409,737.59 |
|
Trade Accts. Receivable |
2,521,601.47 |
1,299,201.65 |
|
Other Current Assets
|
8,214.74 |
739.73 |
|
Total Current
Assets |
2,995,379.50 |
1,709,678.97 |
|
Receivable Loan to
Person or Related Company |
1,985,990.00 |
1,660,000.00 |
|
Fixed Assets [note 2] |
309,066.87 |
313,680.72 |
|
Other Assets |
62,666.71 |
50,000.00 |
|
Total Assets |
5,353,103.08 |
3,733,359.69 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2005 |
2004 |
|
|
|
|
|
Accrued Expenses |
669,603.17 |
135,000.00 |
|
Other Current Liabilities |
526,664.52 |
928,806.55 |
|
Total Current
Liabilities |
1,196,267.69 |
1,063,806.55 |
|
Total Liabilities |
1,196,267.69 |
1,063,806.55 |
|
|
|
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Shareholders'
Equity |
|
|
|
|
|
|
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Share capital : Baht 100 par value
authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning -
Unappropriated |
3,156,835.39 |
1,669,553.14 |
|
Total Shareholders'
Equity |
4,156,835.39 |
2,669,553.14 |
|
Total
Liabilities & Shareholders' Equity |
5,353,103.08 |
3,733,359.69 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2005 |
2004 |
|
|
|
|
|
Income from Services |
20,766,881.50 |
17,358,263.95 |
|
Other Income |
1,454,109.44 |
224,702.01 |
|
Total Revenues
|
22,220,990.94 |
17,582,965.96 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Services |
16,584,027.23 |
12,543,406.76 |
|
Selling & Administrative Expenses |
3,580,897.62 |
2,920,339.51 |
|
Total Expenses |
20,164,924.85 |
15,463,746.27 |
|
Profit / [Loss] Before Income
Tax |
2,056,066.09 |
2,119,219.69 |
|
Income Tax |
[568,783.84] |
[437,886.87] |
|
Net Profit / [Loss] |
1,487,282.25 |
1,681,332.82 |
FINANCIAL NOTE
NOTE 1
Cash in Hand & at Bank
|
|
2005 |
2004 |
|
|
|
|
|
Cash in hand |
333,128.39 |
405,955.95 |
|
Cash at bank |
132,434.90 |
3,781.64 |
|
Total
|
465,563.29 |
409,737.59 |
NOTE 2
Fixed Assets
|
|
2005 |
2004 |
|
|
|
|
|
Furniture and Decoration items |
20,981.78 |
17,681.78 |
|
Office Equipment and
Automation |
313,340.23 |
221,956.02 |
|
Office Communication Equipment |
149,663.78 |
149,663.78 |
|
Total |
483,985.79 |
389,301.58 |
|
Less: Depreciation |
[174,918.92] |
[75,620.86] |
|
Total
|
309,066.87 |
313,680.72 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2005 |
2004 |
|
Net Sales |
19.64 |
|
|
Operating Profit |
[18.90] |
|
|
Net Profit |
[11.54] |
|
|
Fixed Assets |
[1.47] |
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|
Total Assets |
43.39 |
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Profitability |
|
|
|
Cost of Good
Sold |
79.86 |
72.26 |
|
Operating Profit Margin |
9.90 |
12.21 |
|
S & A
Expenses |
17.24 |
16.82 |
|
Other Revenues |
7.00 |
1.29 |
|
Net Profit Margin |
7.16 |
9.69 |
|
Earning Per Shares |
148.73 |
168.13 |
|
No. of Shares |
10,000 |
10,000 |
Net Sales was increased by 19.64%, Operating Profit was decreased by 18.90%, Net Profit was decreased by 11.54%, Fixed Assets was decreased by 1.47%, Total Assets was increased by 43.39%.
Compare each cost
with sales, Cost of
Good Sold was
increased from 72.26%
to 79.86%, Operating
Profit Margin was
decreased from 12.21%
to 9.90%, S
& A Expenses
was increased from
16.82% to 17.24%,
Other Revenues was
increased from 1.29%
to 7.00%, Net
Profit Margin was
decreased from 9.69%
to 7.16%.
Earning Per Shares
was decreased from
168.13 baht per
share to 148.73
baht per share.
Liquidity
|
Liquidity |
2005 |
2004 |
|
Current Ratio |
2.50 |
1.61 |
|
Quick-Assets Ratio |
2.50 |
1.61 |
Current Ratio was
increased from 1.61
to 2.50, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, Quick-Assets Ratio
was increased from
1.61 to 2.50,
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 |
0.29 |
0.40 |
|
|
0.00 |
0.00 |
D/E Ratio was
decreased from 0.40
to 0.29, 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 |
67.19 |
55.34 |
|
Total Assets Turnover |
3.88 |
4.65 |
|
Return on Assets |
27.78 |
45.04 |
|
Return on Equity |
35.78 |
62.98 |
|
Day’s Receivables |
43.71 |
26.94 |
Fixed Assets Turnover was increased from
55.34 times to
67.19 times, Total
Assets Turnover was
decreased from 4.65
times to 3.88
times, show the
company could use
Fixed Assets so
efficiently, Return on
Assets was decreased
from 45.04 to
27.78, Return on
Equity was decreased
from 62.98 to
35.78, capacity to
use Assets to
make profit was
good,
Day’s Receivables was
increased from 27
days to 44
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 |
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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%)