MIRA
INFORM REPORT
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Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SIVA MONGKOL CO., LTD. |
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Registered Office : |
27th Floor, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
0105534003544 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and distributing of
toy products, gift
and premium items,
home appliance products and
others. |
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
SIVA MONGKOL CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 27th FLOOR,
OCEAN TOWER II, 75/61
A, SUKHUMVIT 19
ROAD, KLONGTOEYNUA, WATTANA,
TELEPHONE : [66] 2661-7491
FAX : [66] 2661-7492
E-MAIL ADDRESS : nicha@bangkok-living.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1991
REGISTRATION NO. : 0105534003544 [Former : 354/2534]
CAPITAL
REGISTERED : BHT.
5,000,000
CAPITAL
PAID-UP : BHT.
5,000,000
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS. SAPNA ASHOK
JHANGIANI, INDIAN
MANAGING DIRECTOR
NO. OF
STAFF : 35
LINES OF
BUSINESS : TRADING COMPANY
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on January 11,
1991 as a
private limited company under
the name style
SIVA MONGKOL CO.,
LTD., by Thai
and Indian groups, with
the objective to engage in
international trading business.
It currently employs
35 staff.
The
subject’s registered address
is 75/61 A, Sukhumvit
19 Rd., Klongtoeynua,
Wattana, Bangkok 10110,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
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Nationality |
Age |
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Mr. Jirayu Santadas |
[x] |
Thai |
60 |
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Mrs. Sapna Ashok Jhangiani |
[x] |
Indian |
53 |
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Mr. Amit Ashok Jhangiani |
[x] |
Thai |
33 |
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Ms. Teena Jhangiani |
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Thai |
26 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mrs. Sapna Ashok
Jhangiani is the Managing
Director.
She is Indian
nationality with the
age of 53
years old.
Mr. Kraina Kumar
Sarap is the
Business Development Manager.
He is Thai
nationality.
Mr. Wuthinan Singhathai
is the Marketing
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in
international trading business.
Its products consist
of:
- Importing and
distributing of toy
products, gift and
premium items, home
appliance products and
others, according
to customer’s requirement.
- Exporting of
Thai’s products, such
as infant garment,
canned foods and
others, according to customer’s
requirement.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly in
India and Africa.
SALES
The products is
sold to customers
both local and
overseas, mainly in
Africa, Turkey, Hong
Kong and Republic
of China.
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.
Exports are against
L/C at sight
or T/T.
BANKING
Hong Kong
& Shanghai Banking
Corp.
[
EMPLOYMENT
The
subject employs 35
staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Showroom
is located at
956 Sukhumvit 71
Rd., Klongtonnua, Wattana,
Bangkok 10110.
COMMENT
The
subject’s sales were
healthy from both
imported and exported
products. Its operating
performance is good
and in progress.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided into
10,000 shares of
Bht. 100 each.
The
capital was increased
later as following:
Bht. 2,000,000
on May 4,
1992
Bht. 5,000,000
on August 11,
1995
Bht. 6,000,000
on February 23,
1996
On
September 21, 2005,
the capital was
decreased to Bht. 5,000,000 divided
into 50,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
May 9,
2007]
|
NAME |
HOLDING |
% |
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Mr. Jirayu Santadas Nationality: Thai Address : |
17,500 |
35.00 |
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Mrs. Sapna Ashok
Jhangiani Nationality: Indian Address : |
12,500 |
25.00 |
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Ms. Teena Jhangiani Nationality: Thai Address : |
9,000 |
18.00 |
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Mr. Amit Ashok
Jhangiani Nationality: Thai Address : |
8,000 |
16.00 |
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Mr.
Itthichet Prakobkijcharoen Nationality: Thai Address : 4/43
Moo 3, Wattana, |
2,000 |
4.00 |
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Mr. Raj Ashok
Jhangiani Nationality: Thai Address : |
500 |
1.00 |
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Mr.
Charoenchai Prakobkijcharoen Nationality: Thai Address : 4/43
Moo 3, Wattana, |
500 |
1.00 |
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Mr. Adirek Supakajornvanich No. 5506
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2006 & 2005 were:
ASSETS
|
Current Assets |
2006 |
2005 |
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Cash in hand
& at Bank
|
189,893.48 |
222,870.42 |
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Trade Accts. Receivable |
26,027,801.67 |
3,687,740.43 |
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Inventories |
1,728,560.04 |
5,883,391.37 |
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Other Current Assets
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2,435,963.13 |
2,193,490.10 |
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Total Current
Assets |
30,382,164.32 |
11,987,492.32 |
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Long-term Loan to
Related Person |
27,664,967.00 |
37,646,000.00 |
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Fixed Assets |
27,762,806.69 |
15,559,590.95 |
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Other Assets |
13,556.00 |
13,556.00 |
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Total Assets
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85,823,494.01 |
65,206,639.27 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
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Current Liabilities |
2006 |
2005 |
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Bank Overdraft &
Short-term Loan from Bank |
29,482,722.46 |
33,481,096.57 |
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Trade Accts. Payable |
2,756,662.28 |
15,552,386.27 |
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Current Portion of
Hire-purchase Contract Liabilities |
530,690.00 |
1,599,293.56 |
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Accrued Income Tax |
188,269.00 |
173,411.87 |
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Other Current Liabilities |
2,533,474.50 |
1,547,461.11 |
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Total Current Liabilities
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35,491,818.24 |
52,353,649.38 |
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Account Payable & Loan
from Related Company |
29,700,000.00 |
- |
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Long-term Loan from
Bank |
16,689,003.88 |
7,942,633.57 |
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Total Liabilities |
81,880,822.12 |
60,296,282.95 |
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Shareholders'
Equity |
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Share capital : Baht 100
par value authorized, issued
and fully paid
share capital 60,000 &
50,000 shares in
2006 & 2005
respectively |
5,000,000.00 |
6,000,000.00 |
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Capital Paid |
5,000,000.00 |
6,000,000.00 |
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Unappropriated [Deficit] |
[1,057,328.11] |
[1,089,643.68] |
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Total
Shareholders' Equity |
3,942,671.89 |
4,910,356.32 |
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Total
Liabilities & Shareholders' Equity |
85,823,494.01 |
65,206,639.27 |
PROFIT &
LOSS ACCOUNT
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Revenue |
2006 |
2005 |
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Sales |
41,304,484.64 |
53,788,698.01 |
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Other Income |
1,867,846.19 |
11,378.96 |
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Total Revenues
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43,172,330.83 |
53,800,076.97 |
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Expenses |
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Cost of Goods
Sold |
25,627,708.85 |
37,519,578.67 |
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Selling & Administrative Expenses |
12,037,169.41 |
14,036,599.47 |
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Total Expenses |
37,664,878.26 |
51,556,178.14 |
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Profit / [Loss] before
Interest Expenses &
Income Tax |
5,507,452.57 |
2,243,898.83 |
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Interest Expenses |
[5,286,868.00] |
[2,471,255.95] |
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Income Tax |
[188,269.00] |
[293,411.87] |
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Net Profit / [Loss] |
32,315.57 |
[520,768.99] |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)