MIRA
INFORM REPORT
|
Report Date : |
14.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ACCESS INDUSTRIAL TECHNOLOGY CO., LTD. |
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Registered Office : |
1st Floor, A4 Building, 284 Soi Soonvijai 4 [Japanese School]Rama 9 Road, Bangkapi, Huaykwang, Bangkok 10320 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
21.12.1999 |
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Com. Reg. No.: |
0105542097510 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in importing
and distributing variety of packaging
machines, heating and
air filtration system
and equipment. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Company Name
ACCESS INDUSTRIAL
TECHNOLOGY CO., LTD.
SUMMARY
BUSINESS ADDRESS : 1st FLOOR,
A4 BUILDING,
284
SOI SOONVIJAI 4
[JAPANESE SCHOOL]
RAMA
9 ROAD, BANGKAPI,
HUAYKWANG,
BANGKOK 10320,
THAILAND
TELEPHONE : [66] 2319-9961,
2719-6657-9
FAX : [66] 2319-9960
E-MAIL ADDRESS : access@accessit.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1999
REGISTRATION NO.
: 0105542097510 [Former : [2] 1434/2542]
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.
SEBATAIN JURGEN GOTTHARDT,
GERMAN
MANAGING DIRECTOR
NO. OF
STAFF : 21
LINES OF
BUSINESS : INDUSTRIAL MACHINERY & PARTS
IMPORTER &
DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH AVERAGE PERFORMANCE
HISTORY
The subject was
established on December
21, 1999 as a
private limited company under the name style
ACCESS INDUSTRIAL TECHNOLOGY
CO., LTD., by
Thai and German
partners, in order to distribute
a variety of industrial machineries
and parts to local
market. It currently
employs 21 staff.
The subject’s registered
address is 284 Soi
Soonvijai 4, Rama
9 Rd., Bangkapi, Huaykwang, Bangkok
10320, and this
is the subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
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|
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Mr. Sebatain Jurgen
Gotthardt |
|
German |
45 |
|
Mr. Thanurak Riratanapong |
|
Thai |
40 |
|
Ms. Hansa Saengsawad |
[x] |
Thai |
41 |
AUTHORIZED PERSON
Only the mentioned
director [x] can
sign or both
of the rest directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Sebatain
Jurgen Gotthardt is
the Managing Director.
He is German nationality with
the age of
45 years old.
Mr. Thanurak
Riratanapong is the
Assistant Managing Director.
He is Thai nationality with
the age of
40 years old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing variety of
packaging machines, heating
and air filtration
system and equipment
as follows:
-
Cantoning machine
-
Liquid filling/Capping machine
-
Case packing machine
-
Display box packing
machine
-
Blister packing machine
-
Powder filling machine
-
Pouch filling machine
-
Newman labeling machine
-
Capping machine
-
Tray filling &
sealing machine
-
Silo system
-
Tube filling machine
-
Colloid mills
-
Heating elements
-
Cartridge heaters
-
Coil heaters
-
Thermocouples & resistance
sensors
-
Ceramic heater band
& mica heater
brand
-
Ceramic infrared heaters
-
Tubular heating elements
-
Heated hoses
-
Insulation jacket
-
Etc.
The subject also provides
after sale service
for installation and
maintenance of the
products.
PURCHASE
90% of the products is imported
from Germany, United
States of America,
Italy, Denmark, Switzerland, Spain, United Kingdom, France,
Malaysia, Spain, Denmark,
Switzerland & South Africa,
and the remaining
10% is purchased from local
suppliers.
MAJOR SUPPLIERS
Hotset GmbH : Germany
SALES [LOCAL]
Its products are
sold locally to
manufacturers.
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
T/T on negotiated term.
BANKING
Kasikornbank Public
Co., Ltd.
[Petchburi Branch : 2416
New Petchburi Rd.,
Bangkapi, Huaykwang, Bangkok
10320]
EMPLOYMENT
The subject employs
21 staff. [office and
sales staff]
LOCATION DETAILS
The premise is
rented for administrative office at the
heading address. Premise
is located in
commercial/residential area.
COMMENT
Thai industries have gained continuously since the last
few years, new investment and
expansion in various industries have jumped sharply. However, uncertain economic
outlook has delayed new
investment and expansion plans of many industries.
Subject still performs well
and its business
trend is expanding
steadily.
FINANCIAL INFORMATION
The capital was
registered at Bht.
2,000,000 divided into
200,000 shares of
Bht. 10 each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at June 23, 2006]
|
NAME |
HOLDING |
% |
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Mr. Sebatain Jurgen
Gotthardt Nationality: German Address : 70/362 Moo 8, Ramindra Rd., Kannayao, Bangkok |
77,998 |
38.99 |
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Mr. Thanurak Riratanapong Nationality: Thai Address : 18/38 Moo 8, Klongkum, Buengkum, Bangkok |
58,999 |
29.50 |
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Ms. Sunthree Taveesuk Nationality: Thai Address :
40/66 Sukhumvit 59
Rd., Klongtonnua,
Klongtoey, Bangkok 10110 |
30,000 |
15.00 |
|
Mr. Deter
Essor Nationality: German Address :
21 Jalan 9/2 Section
9, 40000 Sha
Alam,
Malaysia |
20,000 |
10.00 |
|
Siam Pantec - Engineering Co., Ltd. Nationality: Thai Address :
21 Nanglinchee Rd.,
Chongnonsee,
Yannawa, Bangkok 10120 |
9,997 |
5.00 |
|
Mr. Thawatchai Thakolpatanakul Nationality: Thai Address :
195 Seri 9 Rd., Suanluang,
Bangkok |
1,000 |
0.50 |
|
Mr. Thada
Duangta Nationality: Thai Address :
55/85 Moo 4, Sukhapibal 3 Rd.,
Saphansoong, Bangkok |
1,000 |
0.50 |
|
Ms. Nonglak
Somboon Nationality: Thai Address :
59/13 Moo 13, Ramindra
Rd., Kannayao,
Bangkok |
1,000 |
0.50 |
|
Other Shareholders |
6 |
0.01 |
Shareholders : 14
NAME OF AUDITOR &
CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Sudaporn Thapeewong No.
6862
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2005 &
2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
|
|
|
|
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Cash in hand
& at Bank
|
4,711,608.12 |
1,514,103.41 |
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Short Term Investment |
152,244.50 |
151,485.00 |
|
Trade Accts. &
Notes Receivable |
4,434,281.43 |
11,192,461.83 |
|
Inventories |
3,734,572.05 |
4,325,276.46 |
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Other Current Assets
|
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Deposit |
47,293.58 |
6,732,517.39 |
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Other |
767,551.57 |
727,659.73 |
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Total Current
Assets |
13,847,551.25 |
24,643,503.82 |
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Cash at Bank
under Commitment |
8,414,387.26 |
5,979,361.26 |
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Fixed Assets |
2,953,862.10 |
3,504,881.76 |
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Intangible Assets |
289,743.32 |
293,600.00 |
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Other Assets |
180,136.26 |
240,387.86 |
|
Total Assets |
25,685,680.19 |
34,661,734.70 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current Liabilities |
2005 |
2004 |
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|
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Trade Accts. & Notes Payable |
5,998,663.98 |
4,271,554.79 |
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Current Portion of Hire-Purchase Payable |
587,952.00 |
549,487.92 |
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Short Term Loan
from Related Person |
- |
10,100,000.00 |
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Other Current Liabilities |
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Accrued Income
Tax |
4,765.32 |
92,820.57 |
|
Accrued Expenses |
1,168,995.79 |
1,195,787.22 |
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Deposit from
Custom |
- |
2,500,000.00 |
|
Other |
447,160.65 |
744,801.18 |
|
Total Current
Liabilities |
8,207,537.74 |
19,454,451.68 |
|
Hire-Purchase Payable - Net
of Current Portion |
636,948.00 |
1,144,766.50 |
|
Total Liabilities |
8,844,485.74 |
20,599,218.18 |
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Shareholders'
Equity |
|
|
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|
|
|
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Share capital : Baht 10 value authorized, issued
and fully paid share
capital 200,000 shares |
2,000,000.00 |
2,000,000.00 |
|
Capital Paid |
2,000,000.00 |
2,000,000.00 |
|
Retained Earning -
Unappropriated |
14,841,194.45 |
12,062,516.52 |
|
Total
Shareholders' Equity |
16,841,194.45 |
14,062,516.52 |
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Total
Liabilities & Shareholders' Equity |
25,685,680.19 |
34,661,734.70 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2005 |
2004 |
|
|
|
|
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Sales & Services |
119,959,181.13 |
65,387,623.08 |
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Other Income |
1,271,911.37 |
898,247.86 |
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Total Revenues
|
121,231,092.50 |
66,285,870.94 |
|
Expenses |
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|
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Cost of Goods
Sold & Services |
83,408,575.81 |
44,503,343.63 |
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Selling & Administrative Expenses |
33,087,087.88 |
18,989,594.87 |
|
Total Expenses |
116,495,663.69 |
63,492,938.50 |
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Profit / [Loss] Before Interest
Expenses & Income Tax |
4,735,428.81 |
2,792,932.44 |
|
Interest Expenses |
[880,004.65] |
[553,052.79] |
|
Income Tax |
[1,076,746.23] |
[512,496.34] |
|
Net Profit / [Loss] |
2,778,677.93 |
1,727,383.31 |
FINANCIAL ANALYSIS
Annual Growth & Profitability
|
Annual Growth |
2005 |
2004 |
|
Net Sales |
83.46 |
|
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Operating Profit |
[7.58] |
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Net Profit |
60.86 |
|
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Fixed Assets |
[15.72] |
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Total Assets |
[25.90] |
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Profitability |
|
|
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Cost of Good
Sold |
69.53 |
68.06 |
|
Operating Profit Margin |
3.95 |
4.27 |
|
S & A
Expenses |
27.58 |
29.04 |
|
Interest Paid |
0.73 |
0.85 |
|
Other Revenues |
1.06 |
1.37 |
|
Net Profit Margin |
2.32 |
2.64 |
|
Earning Per Shares |
13.89 |
8.64 |
|
No. of Shares |
200,000 |
200,000 |
Net Sales
was increased by
83.46%, Operating Profit
was decreased by
7.58%, Net Profit
was increased by
60.86%, Fixed Assets
was decreased by
15.72%, Total Assets
was decreased by
25.90%.
Compare each cost
with sales, Cost of
Good Sold was
increased from 68.06%
to 69.53%, Operating
Profit Margin was
decreased from 4.27%
to 3.95%, S
& A Expenses
was decreased from
29.04% to 27.58%,
Interest Paid was decreased
from 0.85% to
0.73%, Other Revenues
was decreased from
1.37% to 1.06%,
Net Profit Margin
was decreased from
2.64% to 2.32%.
Earning Per Shares
was increased from
8.64 baht per
share to 13.89
baht per share.
Liquidity
|
Liquidity |
2005 |
2004 |
|
Current Ratio |
1.69 |
1.27 |
|
Quick - assets
ratio |
1.13 |
0.66 |
Current Ratio was
increased from 1.27
to 1.69, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, Quick -
assets ratio was
increased from 0.66
to 1.13, 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 |
0.53 |
1.46 |
|
Times Interest Earned |
5.38 |
5.05 |
D/E Ratio was
decreased from 1.46
to 0.53, show
the company had
fund from Equity
more than fund
from Loan, investment
risked of the
company is low,
Times Interest Earned
was increased from
5.05 to 5.38,
capacity to pay
interest paid was
good.
Efficiency
|
Efficiency |
2005 |
2004 |
|
Fixed Assets Turnover |
40.61 |
18.66 |
|
Total Assets Turnover |
4.67 |
1.89 |
|
Return on Assets |
10.82 |
4.98 |
|
Return on Equity |
16.50 |
12.28 |
|
Day's Payable |
19.00 |
24.00 |
|
Day’s Inventories |
12.00 |
24.00 |
|
Day’s Receivables |
14.00 |
62.00 |
Fixed Assets Turnover
was increased from
18.66 times to
40.61 times, Total
Assets Turnover was
increased from 1.89
times to 4.67
times, show the
company could use
Assets so efficiently, Return on Assets
was increased from
4.98 to 10.82,
Return on Equity
was increased from
12.28 to 16.50,
capacity to use
Assets to make
profit was good.
Day's Payable was
decreased from 24
days to 19
days, Day’s Inventories
was decreased from
24 days to
12 days, and
Day’s Receivables was
decreased from 62
days to 14
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%)