MIRA
INFORM REPORT
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Report Date : |
15th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
TARWON
REFINEMENT OIL CO., LTD. |
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Registered Office : |
380
Moo 5, T. Banmai-Nongsai, A. Arunyaprathet, Srakaew
27120 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
16.11.2005 |
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Com. Reg. No.: |
0275548000118 [Former : 0277354800111] |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Engaged
in palm oil refinery, and supply
to edible oil
production industry. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
New
Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name
TARWON REFINEMENT
OIL CO., LTD.
SUMMARY
BUSINESS ADDRESS : 380 MOO 5, T. BANMAI-NONGSAI,
A. ARUNYAPRATHET, SRAKAEW 27120
TELEPHONE : [66] 37 226-471,
37 233-292
FAX : [66]
37 233-292
E-MAIL ADDRESS : tarwonoil2006@yahoo.com
REGISTRATION ADDRESS : SAME AS BUSINESS ADDRESS
ESTABLISHED : 2005
REGISTRATION NO.
: 0275548000118 [Former : 0277354800111]
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 : MR. TARWON KEAWSOM,
THAI
MANAGING
DIRECTOR
NO. OF
STAFF : 2
LINES OF
BUSINESS : PALM OIL REFINERY
MANUFACTURER
CORPORATE PROFILE
OPERATING TREND : EARLY STATE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : -
MANAGEMENT STANDARD : -
HISTORY
The
subject was established
on November 16,
2005 as a
private limited company under the registered name
style TARWON REFINEMENT
OIL CO., LTD., by
Thai groups, with
the business objective
to manufacture palm
oil products. It
currently employs 2
staff.
The
subject’s registered address
is 380 Moo
5, T. Banmai-Nongsai, A. Arunyaprathet, Srakaew 27120, and this
is the subject’s operation address.
THE BOARD OF DIRECTOR
Mr.
Tarwon Keawsom
AUTHORIZED PERSON
The above
director can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Tarwon
Keawsom is
the Managing Director.
He is
Thai nationality.
BUSINESS OPERATIONS
The subject
aims to operate
as a palm oil refinery,
and supply to
edible oil production
industry. Subject is
being installed machinery,
therefore, its production
will be started
in the fourth quarter of
2007.
PURCHASE
Machinery and equipment are
imported from Taiwan,
Malaysia, Singapore, and
Germany.
RELATED AND AFFILIATED
COMPANY
Tarwon
Oil Co., Ltd.
Business Type
: Manufacturer of
palm oil products.
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
Local bills
are paid by
cash or on
the credits term
of 30-60 days.
Imports are
by L/C or T/T.
BANKING
Banker’s name was not
disclosed.
EMPLOYMENT
The
subject currently employs
2 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
and factory at
the heading address.
Premise is located
in upcountry.
COMMENT
The
subject has not
yet started its
production, however, its
industry has potential
from strong domestic
demand.
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 |
% |
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Mr. Tarwon Keawsom Nationality: Thai Address :
127 Moo 3,
Bansai-Nongsai, Arunyaprathet, Srakaew |
6,000 |
60.00 |
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Mrs. Saipin Keawsom Nationality: Thai Address :
248/1 Moo 3, Bansai-Nongsai, Arunyaprathet, Srakaew |
1,500 |
15.00 |
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Ms. Amporn Keawsom Nationality: Thai Address :
6/2 Moo 4,
Huaykapi, Muang, Chonburi |
1,500 |
15.00 |
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Ms. Wasana Keawsom Nationality: Thai Address :
20/3 Moo 6,
Panao, Muang, Nakornratchasima |
200 |
2.00 |
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Mr. Kittisak Sitthiros Nationality: Thai Address :
29 Moo 3, Bansai-Nongsai, Arunyaprathet, Srakaew |
200 |
2.00 |
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Mrs. Sam-ang Poommark Nationality: Thai Address :
281/55 Moo 2, Bansai-Nongsai, Arunyaprathet, Srakaew |
200 |
2.00 |
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Mrs. Sriwan Rerksomchit Nationality: Thai Address :
113 Moo 3, Bansai-Nongsai, Arunyaprathet, Srakaew |
200 |
2.00 |
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Tarwon
Oil Co., Ltd. Nationality: Thai Address :
248/1 Moo 3, Bansai-Nongsai, Arunyaprathet, Srakaew |
200 |
2.00 |
Total Shareholders : 8
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Surachai Wongpairojkul
No. 8135
BALANCE SHEET [BAHT]
The latest
financial figures published
for December 31,
2005 was:
ASSETS
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Current Assets |
2005 |
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Cash in
hand & at
Bank |
13,380.00 |
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Short Term
Loan to Related
Person |
990,000.00 |
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Other Current
Assets |
2,441.10 |
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Total
Current Assets |
1,005,821.10 |
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Total
Assets |
1,005,821.10 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
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Current Liabilities |
2005 |
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Other Current
Liabilities |
22,000.00 |
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Total Current Liabilities |
22,000.00 |
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Total
Liabilities |
22,000.00 |
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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 |
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Capital Paid |
1,000,000.00 |
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Retained Earning - Unappropriated |
[16,178.90] |
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Total Shareholders' Equity |
983,821.10 |
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Total Liabilities &
Shareholders' Equity |
1,005,821.10 |
PROFIT & LOSS ACCOUNT
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Revenue |
Nov. 16, 2005- Dec. 31, 2005 |
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Other Income |
2,441.10 |
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Total
Revenues |
2,441.10 |
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Expenses |
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Selling &
Administrative Expenses |
18,620.00 |
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Total Expenses
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18,620.00 |
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Net
Profit / [Loss] |
[16,178.90] |
FINANCIAL ANALYSIS
Profitability
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Profitability |
2005 |
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Earning Per
Shares |
[1.62] |
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No. of
Shares |
10,000 |
Earning Per
Shares was -1.62
baht per share.
Liquidity
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Liquidity |
2005 |
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Current Ratio |
45.72 |
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Quick
- assets ratio |
45.61 |
Current Ratio
was 45.72, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, and Quick-assets Ratio was 45.61,
capacity to pay
Short Term Loan
was good too,
because Current Assets
without Inventory can
cover Current Liabilities.
Leverage
|
Leverage |
2005 |
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D/E Ratio |
0.02 |
D/E Ratio was
0.02, show the
company had fund
from Equity more
than fund from
Loan, investment risked
of the company is low.
Efficiency
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Efficiency |
2005 |
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Return on
Assets |
[1.61] |
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Return on
Equity |
[1.64] |
Return on Assets
was -1.61, Return
on Equity was
-1.64, capacity to
use Assets to
make profit was
not good.
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/normal. |
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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