MIRA
INFORM REPORT
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Report Date : |
10.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TEMP TECH CO., LTD. |
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Registered Office : |
7/23
Moo
5, T. Kokkrabur, A. Muang, |
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Country : |
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Financials (as on) : |
30.06.2006 |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
0105533080987 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in designing,
manufacturing and distributing of
refrigerators and the
related products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
name
TEMP TECH CO., LTD.
SUMMARY
BUSINESS ADDRESS : 7/23
MOO 5, T. KOKKRABUR,
A. MUANG,
TELEPHONE : [66] 34
854-352-3
FAX : [66] 34
854-355
E-MAIL ADDRESS : temtech@csloxinfo.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1990
REGISTRATION NO. : 0105533080987 [Former : 8097/2533]
CAPITAL
REGISTERED : BHT.
5,000,000
CAPITAL
PAID-UP : BHT.
5,000,000
FISCAL
YEAR CLOSING DATE : JUNE 30
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MS. SIRIPORN PRATHUMSOOT,
THAI
MANAGING DIRECTOR
NO. OF
STAFF : 25
LINES OF
BUSINESS : REFRIGERATION SYSTEM
AND SOLUTION
IMPORTER, DISTRIBUTOR
AND SERVICE
PROVIDER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on July 12, 1990
as a private
limited company under the
name style TEMP
TECH CO., LTD.,
by Thai groups, to
provide product and
service for refrigeration
resources and solutions.
It currently employs
25 staff.
The
subject’s registered address
is 7/23 Moo 5, T. Kokkrabur,
A. Muang, Samutsakorn 74000,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
Ms. Siriporn Prathumsoot
AUTHORIZED PERSON
The above director
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Ms. Siriporn Prathumsoot
is the Managing
Director.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in designing,
manufacturing and distributing
of refrigerators and
the related products,
including chiller, freezer,
special freezer, ice
making machine, evaporator,
condenser, compressor, valve
and etc., as
well as providing
of maintenance and
installation.
IMPORT
The
subject imports machine’s
parts and refrigerated
equipment for the
production from Republic
of China, Taiwan,
France, Japan and
Germany.
SALES
The products is
sold and serviced
locally to industrial
uses, such as
foods, dairy foods,
pharmaceuticals, electrical. Metal
and others.
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
TMB Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs 25
staff.
LOCATION DETAILS
The
premise is rented
for administrative office
and factory at
the heading address.
Premise is located
in commercial/residential area.
REMARK
CREDIT
OF US$ 150,000 AGAINST
D/A TERMS SHOULD
BE IN ORDER.
COMMENT
This year,
the company’s net
profit may drop
slightly. This was
due to higher
energy costs, the
depreciation of its
new production facilities
and increasing interest
payments for additional
debts, as well
as decline consumption
from industrial sector
for new investment
and expansion.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 500,000
divided into 5,000 shares of
Bht. 100 each.
On
May 13, 2003,
the capital was
increased to Bht. 5,000,000 divided
into 50,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
October 24,
2006]
|
NAME |
HOLDING |
% |
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Mrs.
Siriporn Prathumsoot Nationality: Thai Address : 882/12
Moo 5, Donjaedee,
Suphanburi |
29,250 |
58.50 |
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Mrs. Eng Jongpipitporn Nationality: Thai Address : 170
Moo 2, Bangpakok,
Rajburana, |
18,500 |
37.00 |
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Mr.
Thitipong Metheesahakarn Nationality: Thai Address : 65/433
Moo 6, Bangbon,
|
1,000 |
2.00 |
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Mr. Cherd Vorasuta Nationality: Thai Address : 448/61
Rama 3 Rd.,
Bangklo,
Bangkorlaem, |
500 |
1.00 |
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Mrs. Sunee Methesahakarn Nationality: Thai Address : 65/433
Moo 6, Bangbon,
|
500 |
1.00 |
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Ms. Napa Jongpipitporn Nationality: Thai Address : 170
Moo 2, Bangpakok,
Rajburana, |
150 |
0.30 |
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Mr. Namchai Jongpipitporn Nationality: Thai Address : 846/155
Moo 11, Bangmod,
Thungkru, |
100 |
0.20 |
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Ms. Natthinee Rodyoi No.
7197
BALANCE SHEET [BAHT]
The latest financial figures published
as at June
30, 2006 & 2005
were:
ASSETS
|
Current Assets |
2006 |
2005 |
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Cash in hand
& at Bank
|
3,786,226.33 |
2,087,881.19 |
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Trade Accts. Receivable |
6,818,420.61 |
3,085,667.79 |
|
Work in Progress |
8,261,011.41 |
7,274,382.19 |
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Other Current Assets
|
475,445.68 |
102,632.36 |
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Total Current
Assets |
19,341,104.03 |
12,550,563.53 |
|
Investment in Other
Company |
2,200,000.00 |
2,200,000.00 |
|
Fixed Assets [note 1] |
2,842,589.30 |
1,596,663.02 |
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Total Assets
|
24,383,693.33 |
16,347,226.55 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2006 |
2005 |
|
|
|
|
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Trade Accts. Payable |
3,726,749.96 |
3,205,070.20 |
|
Current Portion of Hire-purchase Contract
Payable |
434,903.16 |
200,161.31 |
|
Short-term Loan from
Person or Related
Company |
9,550,000.00 |
5,388,000.00 |
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Other Current Liabilities |
903,776.21 |
130,787.75 |
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Total Current
Liabilities |
14,615,429.33 |
8,924,019.26 |
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Hire-purchase Contract Payable |
1,049,791.91 |
209,624.54 |
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Total Liabilities |
15,665,221.24 |
9,133,643.80 |
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Shareholders'
Equity |
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Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares |
5,000,000.00 |
5,000,000.00 |
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Capital Paid |
5,000,000.00 |
5,000,000.00 |
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Unappropriated |
3,718,472.09 |
2,213,582.75 |
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Total
Shareholders' Equity |
8,718,472.09 |
7,213,582.75 |
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Total
Liabilities & Shareholders' Equity |
24,383,693.33 |
16,347,226.55 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2006 |
2005 |
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Service Income |
39,558,143.70 |
32,179,389.94 |
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Other Income |
11,895.49 |
8,671.33 |
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Total Revenues
|
39,570,039.19 |
32,188,061.27 |
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Expenses |
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Cost of Service
|
28,942,593.76 |
21,734,997.30 |
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Administrative Expenses |
8,685,088.49 |
7,639,789.05 |
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Total Expenses |
37,627,682.25 |
29,374,786.35 |
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Profit / [Loss] before
Interest Expenses &
Income Tax |
1,942,356.94 |
2,813,274.92 |
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Interest Expenses |
[36,086.22] |
[31,573.80] |
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Income Tax |
[401,381.38] |
[618,245.12] |
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Net Profit / [Loss] |
1,504,889.34 |
2,163,456.00 |
FINANCIAL NOTE
NOTE 1
Fixed Assets
|
|
2006 |
2005 |
|
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Office Automation |
837,154.23 |
675,424.23 |
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Vehicle |
3,793,148.13 |
2,111,148.13 |
|
Hand Tools |
2,399,954.37 |
2,307,849.43 |
|
Total |
7,030,256.73 |
5,094,421.79 |
|
Less: Depreciation |
[4,187,667.43] |
[3,497,758.77] |
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Total
|
2,842,589.30 |
1,596,663.02 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2006 |
2005 |
|
Net Sales |
22.93 |
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Operating Profit |
[43.84] |
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Net Profit |
[30.44] |
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Fixed Assets |
78.03 |
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Total Assets |
49.16 |
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Profitability |
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Cost of Good
Sold |
73.16 |
67.54 |
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Operating Profit Margin |
4.91 |
8.74 |
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S & A
Expenses |
21.96 |
23.74 |
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Interest Paid |
0.09 |
0.10 |
|
Other Revenues |
0.03 |
0.03 |
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Net Profit Margin |
3.80 |
6.72 |
|
Earning Per Shares |
30.10 |
43.27 |
|
No. of Shares |
50,000 |
50,000 |
Net Sales was increased by 22.93%, Operating Profit was decreased by 43.84%, Net Profit was decreased by 30.44%, Fixed Assets was increased by 78.03%, Total Assets was increased by 49.16%.
Compare each cost with sales, Cost of Good Sold was increased from 67.54% to 73.16%, Operating Profit Margin was decreased from 8.74% to 4.91%, S & A Expenses was decreased from 23.74% to 21.96%, Interest Paid was decreased from 0.10% to 0.09%, Other Revenues was increased from 0.03% to 0.03%, Net Profit Margin was decreased from 6.72% to 3.80%.
Earning Per Shares
was decreased from
43.27 baht per
share to 30.10
baht per share.
Liquidity
|
Liquidity |
2006 |
2005 |
|
Current Ratio |
1.32 |
1.41 |
|
Quick-Assets Ratio |
0.73 |
0.58 |
Current Ratio was decreased from 1.41 to 1.32, show Current Assets can cover Current Liabilities, Liquidity Ratio of the company was good, Quick-Assets Ratio was increased from 0.58 to 0.73, capacity to pay Short Term Loan was not good, because Current Assets without Inventory can not cover Current Liabilities.
Leverage
|
Leverage |
2006 |
2005 |
|
D/E Ratio |
1.80 |
1.27 |
|
Times Interest Earned |
53.83 |
89.10 |
D/E Ratio was
increased from 1.27
to 1.80, show
the company had
fund from Loan
more than fund
from Equity, investment
risked of the
company is medium,
Times Interest Earned
was decreased from
89.10 to 53.83,
capacity to pay
interest paid was
good.
Efficiency
|
Efficiency |
2006 |
2005 |
|
Fixed Assets Turnover |
13.92 |
20.15 |
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Total Assets Turnover |
1.62 |
1.97 |
|
Return on Assets |
6.17 |
13.23 |
|
Return on Equity |
17.26 |
29.99 |
|
Day's Payable |
33.92 |
35.86 |
|
Day’s Inventories |
75.18 |
81.38 |
|
Day’s Receivables |
62.05 |
34.52 |
Fixed Assets Turnover
was decreased from
20.15 times to
13.92 times, Total
Assets Turnover was
decreased from 1.97
times to 1.62
times, show the
company could not
use Assets so
efficiently, Return on
Assets was decreased
from 13.23 to
6.17, Return on
Equity was decreased
from 29.99 to
17.26, capacity to
use Assets to
make profit was
good.
Day's Payable was
decreased from 36
days to 34
days, and Day’s
Inventories was decreased
from 82 days
to 76 days,
while Day’s Receivables
was increased from
35 days to
63 days.
RATING EXPLANATIONS
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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. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
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%)