MIRA
INFORM REPORT
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Report Date : |
16.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SEADUDE CORPORATION CO., LTD. |
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Registered Office : |
4 Soi Kasemsamran 11,
Sukhumvit 71 Road,
Prakanong Nua, Wattana,
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
0105545119638 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer
and Distributor of Frozen Seafoods |
RATING & COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Stopped Operations |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
name
SEADUDE CORPORATION CO., LTD.
FORMER
TWO FISH AND FRIEND CO., LTD.
SUMMARY
BUSINESS ADDRESS : -
TELEPHONE : -
FAX : -
E-MAIL ADDRESS : -
REGISTRATION ADDRESS : 4
SOI KASEMSAMRAN 11,
SUKHUMVIT 71 ROAD,
PRAKANONG NUA,
WATTANA,
ESTABLISHED : 2002
REGISTRATION NO. : 0105545119638 [Former: 10254501121]
CAPITAL
REGISTERED : BHT.
5,000,000
CAPITAL
PAID-UP : BHT.
2,500,000
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : -
NO. OF
STAFF : -
LINES OF
BUSINESS : FROZEN SEAFOODS
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : -
PRESENT SITUATION : STOPPED OPERATION
REPUTATION : -
MANAGEMENT STANDARD : -
HISTORY
The subject was
established on November
12, 2002 as
a private limited
company under the originally
registered name “Two Fish
and Friend Co.,
Ltd,” by Thai groups.
On October 6,
2005, subject has
changed its name
to be SEADUDE
CORPORATION CO., LTD.,
with the business
objective to import
and distribute wide
range of frozen
seafood products to
domestic market.
The
subject’s registered address
was initially located
at 13-19 Trok Rongnamkaeng,
Charoenkrung 24 Rd.,
Taladnoi, Samphantawong, Bangkok
10100.
On
October 12, 2005,
the registered address
was relocated to
4 Soi Kasemsamran
11, Sukhumvit 71 Rd.,
Prakanong Nua, Wattana,
Bangkok 10110, while
the subject’s current
operation address is
located at 90/10
Moo 6, T. Salaya,
A. Budhamonthon,
Nakornpathom 73170.
At
the beginning of
2007, the subject
stopped its operation,
by set up
and transferred all
activities to the
new company named “Pigopan [Thailand]
Co., Ltd.”, which
the business address
is located at
the same subject’s
address. However, the
subject has not
yet revoked its name
from the Commercial
Registered Department.
THE BOARD
OF DIRECTORS
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Name |
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Nationality |
Age |
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Mr. Nawapol Raseevisuth |
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Thai |
30 |
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Mr. Kosin Rungruangpanich |
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Thai |
29 |
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Mr. Piya Chernviriyakul |
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Thai |
30 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
COMMENT
Any business
engagement with the
subject should be
ceased.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht.
100 each.
On
October 6, 2005,
the capital was
increased to Bht.
5,000,000 divided into
50,000 shares of Bht.
100 each.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30,
2006] at Bht.
2,500,000 of
capitalization
|
NAME |
HOLDING |
% |
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Mr. Nawapol Raseevisuth Nationality: Thai Address :
Bangkokyai, |
27,497 |
54.99 |
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Mr. Kosin Rungruangpanich Nationality: Thai Address :
66 Moo 6,
Sanamchan, Banpho, Chachoengsao |
10,000 |
20.00 |
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Mr. Piya Chernviriyakul Nationality: Thai Address : 62/3
Moo 1, Thakham,
Bangkhunthien, |
10,000 |
20.00 |
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Mrs.
Kanaluck Mekpayup Nationality: Thai Address : |
2,500 |
5.00 |
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Mrs.
Suphawan Rungruangpanich Nationality: Thai Address : 4
Sukhumvit 71 Rd.,
Prakanong Nua, Wattana, |
1 |
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Mr. Yuthakorn Udommun Nationality: Thai Address : 80/961
Moo 5, Bangmuangmai, Muang, Samutprakarn
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1 |
=0.01 |
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Mrs.
Nanthawan Chernviriyakul Nationality: Thai Address : 88/8
Moo 1, Thakham,
Bangkhunthien, |
1 |
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Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Mr. Permsawas Thanasuk No.
772
BALANCE SHEET [BAHT]
The
subject’s 2006 financial
statement has not
yet available during
this current investigation.
The
latest financial figures
published for December
31, 2005 &
2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
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Cash in hand [note 1] |
113,460.03 |
14,950.00 |
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Short Term Loan
to Related Person |
2,380,000.00 |
480,000.00 |
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Other Current Assets
[note 2] |
87,590.65 |
20,488.70 |
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Total Current
Assets |
2,581,050.68 |
515,438.70 |
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Total Assets
|
2,581,050.67 |
515,438.70 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
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Current Liabilities |
2005 |
2004 |
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Other Current Liabilities [note 3] |
28,777.60 |
18,000.00 |
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Total Current
Liabilities |
28,777.60 |
18,000.00 |
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Total Liabilities |
28,777.60 |
18,000.00 |
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Shareholders'
Equity |
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Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 &
10,000 shares in 2005 & 2004 |
5,000,000.00 |
1,000,000.00 |
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Capital Paid |
2,500,000.00 |
500,000.00 |
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Retained Earning -
Unappropriated |
52,273.08 |
[2,561.30] |
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Total
Shareholders' Equity |
2,552,273.08 |
497,438.70 |
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Total
Liabilities & Shareholders' Equity |
2,581,050.68 |
515,438.70 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2005 |
2004 |
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Sales Income |
2,432,912.50 |
- |
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Other Income |
20,943.41 |
9,600.00 |
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Total Revenues
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2,453,855.91 |
9,600.00 |
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Expenses |
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Cost of Goods
Sold |
2,119,633.33 |
- |
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Selling & Administrative Expenses |
269,810.60 |
6,000.00 |
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Total Expenses |
2,389,443.93 |
6,000.00 |
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Profit/[Loss] Before Income Tax |
64,411.98 |
3,600.00 |
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Income Tax |
[9,577.60] |
- |
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Net Profit / [Loss] |
54,834.38 |
3,600.00 |
FINANCIAL NOTE
NOTE 1
Cash in Hand & at
Bank
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2005 |
2004 |
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Cash in hand |
53,963.03 |
14,950.00 |
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Cash at bank |
59,497.00 |
- |
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Total
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113,460.03 |
14,950.00 |
NOTE 2
Other Current Assets
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2005 |
2004 |
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Deferred Income |
39,992.81 |
20,488.70 |
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Prepaid Expenses |
47,597.84 |
- |
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Total
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87,590.65 |
20,488.70 |
NOTE 3
Other Current Liabilities
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2005 |
2004 |
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Accrued Auditor Account |
5,000.00 |
9,000.00 |
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Accrued Services |
7,000.00 |
9,000.00 |
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Accrued Withholding Income Tax |
7,200.00 |
- |
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Accrued Income Tax |
9,577.60 |
- |
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Total
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28,777.60 |
18,000.00 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
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Annual Growth |
2005 |
2004 |
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Net Profit |
1,423.18 |
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Total Assets |
400.75 |
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Profitability |
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Cost of Good
Sold |
87.12 |
0.00 |
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Operating Profit Margin |
2.65 |
0.00 |
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S & A
Expenses |
11.09 |
0.00 |
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Other Revenues |
0.86 |
0.00 |
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Net Profit Margin |
2.25 |
0.00 |
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Earning Per Shares |
2.19 |
0.72 |
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No. of Shares |
25,000 |
5,000 |
Net Profit was increased by 1,423.18%, Total Assets was increased by 400.75%.
Compare each cost
with sales, Cost of
Good Sold was
increased from 0.00%
to 87.12%, Operating
Profit Margin was
increased from 0.00%
to 2.65%, S
& A Expenses
was increased from
0.00% to 11.09%,
Other Revenues was
increased from 0.00%
to 0.86%, Net
Profit Margin was
increased from 0.00%
to 2.25%,
Earning Per Shares
was increased from
0.72 baht per
share to 2.19
baht per share.
Liquidity
|
Liquidity |
2005 |
2004 |
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Current Ratio |
89.69 |
28.64 |
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Quick-Assets Ratio |
86.65 |
27.50 |
Current Ratio was increased
from 28.64 to
89.69, show Current
Assets can cover
Current Liabilities, Liquidity
Ratio of the
company was good,
Quick-Assets Ratio was
increased from 27.50
to 86.65, capacity
to pay Short
Term Loan was
good too, because
Current Assets without
Inventory can cover
Current Liabilities.
Leverage
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Leverage |
2005 |
2004 |
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D/E Ratio |
0.01 |
0.04 |
D/E Ratio was
decreased from 0.04
to 0.01, 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 |
2004 |
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Total Assets Turnover |
0.94 |
0.00 |
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Return on Assets |
2.12 |
0.70 |
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Return on Equity |
2.15 |
0.72 |
Total Assets Turnover
was increased from
0.00 times to
0.94 times, show
the company could
use Assets so
efficiently, Return on
Assets was increased
from 0.70 to
2.12, Return on
Equity was increased
from 0.72 to
2.15, capacity to
use Assets to
make profit was
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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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%)