MIRA
INFORM REPORT
|
Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
TEMPLATE ENGINEERING CO., LTD. |
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Registered Office : |
25/12 Moo 5,
Leabklong 8 Road, Lamlukka, Pathumthani 12150 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
0105537100214 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in importing
and distributing wide
range of chemical
glass lines, such as
glass-line reactor, glass-line mixing tank, as
well as valve
for industrial used. |
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 |
name
TEMPLATE ENGINEERING CO., LTD.
SUMMARY
BUSINESS ADDRESS : 25/12 MOO 5, LEABKLONG
8 ROAD,
LAMLUKKA, PATHUMTHANI 12150
TELEPHONE : [66] 2987-1101-5
FAX : [66] 2987-1106
E-MAIL ADDRESS : info@templateng.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1994
REGISTRATION NO.
: 0105537100214 [Former : [2]3721/2537]
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 : MR.
WIRAN THAMKIJWAT, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 35
LINES OF
BUSINESS : CHEMICAL GLASS LINES AND
VALVE
PRODUCTS
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 25,
1994 as a
private limited company under the name style
TEMPLATE ENGINEERING CO.,
LTD., by Thai
groups, in order
to import and
distribute wide range
of chemical glass
lines and valve
products to domestic
market. It currently
employs approximately 35
staff.
The
subject’s registered address
is 25/12 Moo
5, Leabklong 8
Rd., Lamlukka, Pathumthani
12150, 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. Wiran Thamkijwat |
[x] |
Thai |
40 |
|
Ms. Renu Thepthit |
|
Thai |
36 |
|
M.L. Thanis Kasemsant |
|
Thai |
34 |
AUTHORIZED PERSON
The mentioned director [x] can jointly sign
with one of
the rest directors
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Wiran Thamkijwat
is the Managing Director.
He is Thai nationality with
the age of
40 years old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing wide
range of chemical
glass lines, such as
glass-line reactor, glass-line
mixing tank, as
well as valve
for industrial used.
IMPORT
Most
of the products are imported
from Republic of
China, Germany and
Taiwan.
SALES
The products is
sold by wholesale
to dealers, manufacturer 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
Banker’s name was
not disclosed.
EMPLOYMENT
The
subject employs 35
office and sales
staff.
LOCATION DETAILS
The premise is owned
for administrative office
at the heading address. Premise
is located in
residential area.
COMMENT
The subject
has performed well
in its business. Sales has
grown gradually since
the last few
years. Its business
trend is expanding
steadily.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
On
August 19, 2004,
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
April 30, 2007]
|
NAME |
HOLDING |
% |
|
|
|
|
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Mr. Wiran Thamkijwat Nationality: Thai Address : 130
Moo 9, Donkruay,
Damnernsaduak, Ratchaburi |
22,497 |
44.99 |
|
Ms. Renu Thepthit Nationality: Thai Address : 56
Moo 8, Donsai,
Pakthor, Ratchaburi |
10,000 |
20.00 |
|
M.L. Thanis
Kasemsant Nationality: Thai Address : 123
Phaholyothin 40 Rd.,
Ladyao, Jatujak, Bangkok |
10,000 |
20.00 |
|
Mr. Noppol Manomaivibul Nationality: Thai Address : 80/192
Moo 4, Pimolraj,
Bangbuathong, Nonthaburi |
7,500 |
15.00 |
|
Ms. Wanphen Thamkijwat Nationality: Thai Address : 130
Moo 9, Donkruay,
Damnernsaduak, Ratchaburi |
1 |
|
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Mr.
Teerayuth Ajchariyawitkul Nationality: Thai Address : 9/39
Prachachuen Rd., Ladyao,
Jatujak, Bangkok |
1 |
= 0.01 |
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Ms. Vipa Thamkijwat Nationality: Thai Address : 130
Moo 9, Donkruay,
Damnernsaduak, Ratchaburi |
1 |
|
Total Shareholders
7
NAME OF AUDITOR &
CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Supoj Reungmethanont No.
2191
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2006 &
2005 were:
ASSETS
|
Current Assets |
2006 |
2005 |
|
|
|
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Cash in hand
& at Bank
|
6,966,562.19 |
8,412,269.26 |
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Trade Accts. Receivable |
7,109,681.45 |
5,519,885.54 |
|
Inventories |
- |
808,576.00 |
|
Advanced Paid |
2,822,547.24 |
- |
|
Other Current Assets
|
202,674.87 |
334,874.91 |
|
Total Current
Assets |
17,101,465.75 |
15,075,605.71 |
|
Long Term Loan
to Related Person |
1,900,000.00 |
800,000.00 |
|
Fixed Assets |
656,554.41 |
952,723.78 |
|
Withholding Income Tax |
678,196.15 |
678,196.15 |
|
Guarantee |
4,373,982.23 |
2,177,757.23 |
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Total Assets |
24,710,198.54 |
19,684,282.87 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current Liabilities |
2006 |
2005 |
|
|
|
|
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Trade Accts. Payable |
14,609,483.14 |
9,077,209.50 |
|
Current Portion of Liabilities under Lease Financial Contract |
193,335.17 |
271,924.00 |
|
Accrued Expenses |
1,200,000.00 |
- |
|
Other Current Liabilities |
178,828.57 |
256,149.56 |
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Total Current
Liabilities |
16,181,646.88 |
9,605,283.06 |
|
Long Term Loan
from Person & Related Company |
255,660.00 |
1,689,970.18 |
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Liabilities under Lease
Financial Contract Net of Current Portion |
- |
80,989.60 |
|
Long Term Loan
from Finance |
- |
1,264,870.55 |
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Total Liabilities |
16,437,306.88 |
12,641,113.39 |
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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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Retained Earning -
Unappropriated |
3,272,891.66 |
2,043,169.48 |
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Total
Shareholders' Equity |
8,272,891.66 |
7,0436,169.48 |
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Total
Liabilities & Shareholders' Equity |
24,710,198.54 |
19,684,282.87 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2006 |
2005 |
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Sales |
60,311,003.34 |
53,924,509.12 |
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Other Income |
2,513.68 |
8,000.00 |
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Total Revenues
|
60,313,517.02 |
53,932,509.12 |
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Expenses |
|
|
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Cost of Goods
Sold |
47,070,240.68 |
44,490,221.86 |
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Selling & Administrative Expenses |
10,908,664.32 |
7,189,466.86 |
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Total Expenses |
57,978,905.00 |
51,679,688.72 |
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Profit / [Loss] Before Interest
Expenses & Income Tax |
2,334,612.02 |
2,252,820.40 |
|
Interest Expenses |
[528,396.00] |
[210,775.00] |
|
Income Tax |
[576,493.84] |
[418,930.23] |
|
Net Profit / [Loss] |
1,229,722.18 |
1,623,115.17 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2006 |
2005 |
|
Net Sales |
11.84 |
|
|
Operating Profit |
[7.34] |
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Net Profit |
[24.24] |
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Fixed Assets |
[31.09] |
|
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Total Assets |
25.53 |
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Profitability |
|
|
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Cost of Good
Sold |
78.05 |
82.50 |
|
Operating Profit Margin |
3.87 |
4.18 |
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S & A
Expenses |
18.09 |
13.33 |
|
Interest Paid |
0.88 |
0.39 |
|
Other Revenues |
0.00 |
0.01 |
|
Net Profit Margin |
2.04 |
3.01 |
|
Earning Per Shares |
24.59 |
32.46 |
|
No. of Shares |
50,000 |
50,000 |
Net Sales was increased by 11.84%, Operating Profit was decreased by 7.34%, Net Profit was decreased by 24.24%, Fixed Assets was decreased by 31.09%, Total Assets was increased by 25.53%.
Compare each cost
with sales, Cost of
Good Sold was
decreased from 82.50%
to 78.05%, Operating
Profit Margin was
decreased from 4.18%
to 3.87%, S
& A Expenses
was increased from
13.33% to 18.09%,
Interest Paid was increased
from 0.39% to
0.88%, Other Revenues
was decreased from
0.01% to 0.00%,
Net Profit Margin
was decreased from
3.01% to 2.04%.
Earning Per Shares
was decreased from
32.46 baht per
share to 24.59
baht per share.
Liquidity
|
Liquidity |
2006 |
2005 |
|
Current Ratio |
1.06 |
1.57 |
|
Quick-Assets Ratio |
0.87 |
1.45 |
Current Ratio was decreased from 1.57 to 1.06, show Current Assets can cover Current Liabilities, Liquidity Ratio of the company was good, Quick-Assets Ratio was decreased from 1.45 to 0.87, 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 |
1.99 |
1.79 |
|
Times Interest Earned |
4.42 |
10.69 |
D/E Ratio was increased from 1.79 to 1.99, 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 10.69 to 4.42, capacity to pay interest paid was good.
Efficiency
|
Efficiency |
2006 |
2005 |
|
Fixed Assets Turnover |
91.86 |
56.60 |
|
Total Assets Turnover |
2.44 |
2.74 |
|
Return on Assets |
4.98 |
8.25 |
|
Return on Equity |
14.86 |
23.05 |
|
Day's Payable |
87.20 |
60.60 |
|
Day’s Inventories |
0.00 |
5.40 |
|
Day’s Receivables |
42.44 |
36.85 |
Fixed Assets Turnover was increased from 56.60 times to 91.86 times, Total Assets Turnover was decreased from 2.74 times to 2.44 times, show the company could use Fixed Assets so efficiently, Return on Assets was decreased from 8.25 to 4.98, Return on Equity was decreased from 23.05 to 14.86, capacity to use Assets to make profit was good.
Day's Payable was
increased from 61
days to 88
days, while Day’s
Inventories was decreased
from 6 days to 0
days, but Day’s
Receivables was increased
from 37 days
to 43 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%)