MIRA
INFORM REPORT
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Report Date : |
08.06.2007 |
IDENTIFICATION DETAILS
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Name : |
WINWON COMPANY LIMITED |
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Registered Office : |
11
Chalermkhet 1 Road,
Wat Thepsirin, Pomprab, |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1987 |
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Com. Reg. No.: |
0105530023940 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in distributing various
kinds of industrial
equipment and supplies. |
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
WINWON COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 11
CHALERMKHET 1 ROAD,
WAT THEPSIRIN,
POMPRAB,
TELEPHONE : [66] 2225-6258-9,
2621-5838-9
FAX : [66] 2225-5305
E-MAIL ADDRESS : winwon@ksc.th.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1987
REGISTRATION NO. : 0105530023940 [Former : 2391/2530]
CAPITAL
REGISTERED : BHT.
3,000,000
CAPITAL
PAID-UP : BHT.
3,000,000
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS. CHONGPIS KIJTANAMONGKOLCHAI, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 14
LINES OF
BUSINESS : INDUSTRIAL EQUIPMENT
AND SUPPLIES
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on May 20, 1987
as a private
limited company under
the name style
WINWON COMPANY LIMITED
by Thai groups,
in order to
import and distribute
various kinds of
industrial equipment and
supplies to domestic
market. It currently
employs 14 staff.
The subject’s registered
address is 11
Chalermkhet 1 Rd.,
Wat Thepsirin, Pomprab,
Bangkok 10100, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
Mrs. Chongpis Kijtanamongkolchai
AUTHORIZED PERSON
The above director
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mrs. Chongpis Kijtanamongkolchai is
the Managing Director.
She is Thai
nationality with the
age of 56
years old.
Mr. Anucha Kijtanamongkolchai is
the Marketing Director.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in distributing
various kinds of
industrial equipment and
supplies including film-based
creasing systems, metal-based
creasing systems, maker-ready
sheets, profi-tapes, steel
shim tapes, cutting
plate cleaners, lock
fix systems, carbon
papers, ejection rubbers,
diamond grinding discs
and etc.
MAJOR BRAND
“CITO”
PURCHASE
Most of the
products are imported
from Germany, Republic
of China, Taiwan
and United States
of America, the
remaining is purchased
from local suppliers
and agents.
MAJOR SUPPLIER
CITO
System GmbH :
SALES
100% of the
products is sold
locally by wholesale
to dealers and
manufacturers.
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
Bangkok Bank
Public Co., Ltd.
[Head Office :
EMPLOYMENT
The
subject employs 14
staff.
LOCATION DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
COMMENT
The subject still
maintains its moderate
business despite an
overall country’s economic
slowdown.
FINANCIAL INFORMATION
The
capital was initially registered
at Bht. 1,000,000
divided into 10,000
shares of Bht.
100 each.
On
November 4, 1992,
the capital was increased
to Bht. 3,000,000 divided
into 30,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30,
2006]
|
NAME |
HOLDING |
% |
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Mr.
Phatpong Kijtanamongkolchai Nationality: Thai Address : 64/38
Moo 1, Bangramad,
Talingchan, |
12,999 |
43.33 |
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Mrs.
Orathai Traipong Nationality: Thai Address : 75/17
Moo 3, Chimplee,
Talingchan, |
10,001 |
33.33 |
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Mrs.
Chongpis Kijtanamongkolchai Nationality: Thai Address : 75/17
Moo 3, Chimplee,
Talingchan, |
2,999 |
10.00 |
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Mr. Wanchak Kijtanamongkolchai Nationality: Thai Address : 75/17
Moo 3, Chimplee,
Talingchan, |
2,000 |
6.67 |
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Ms. Wallapa Kijtanamongkolchai Nationality: Thai Address : 75/17
Moo 3, Chimplee,
Talingchan, |
1,000 |
3.33 |
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Ms. Wanngam Kijtanamongkolchai Nationality: Thai Address : 75/17
Moo 3, Chimplee,
Talingchan, |
1,000 |
3.33 |
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Mr. Rangsan Saengchindawong Nationality: Thai Address : Yannawa, |
1 |
0.01 |
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Ms. Chanpen Khemakawat No.
1562
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2005 &
2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
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Cash in hand
& at Bank
|
343,116.11 |
40,600.55 |
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Trade Accts. & Notes
Receivable |
14,396,903.07 |
18,560,939.09 |
|
Inventories |
9,957,820.00 |
9,801,240.00 |
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Other Current Assets
|
2,158,538.15 |
532,809.93 |
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Total Current
Assets |
26,856,377.33 |
28,935,589.57 |
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|
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Fixed Assets [note 1] |
1,893,897.62 |
1,756,524.80 |
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Other Assets |
28,294.00 |
28,294.00 |
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Total Assets
|
28,778,568.95 |
30,720,408.37 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2005 |
2004 |
|
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|
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Bank Overdraft &
Loan from Bank |
7,177,043.81 |
9,114,581.46 |
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Trade Accts. Payable |
3,841,864.15 |
5,430,245.76 |
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Other Current Liabilities |
3,018,107.17 |
2,908,973.78 |
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Total Current Liabilities
|
14,037,015.13 |
17,453,801.00 |
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Total Liabilities |
14,037,015.13 |
17,453,801.00 |
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Shareholders'
Equity |
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Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 30,000 shares |
3,000,000.00 |
3,000,000.00 |
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Capital Paid |
3,000,000.00 |
3,000,000.00 |
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Retained Earning -
Unappropriated |
11,741,553.82 |
10,266,607.37 |
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Total
Shareholders' Equity |
14,741,553.82 |
13,266,607.37 |
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Total
Liabilities & Shareholders' Equity |
28,778,568.95 |
30,720,408.37 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2005 |
2004 |
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Sales |
36,078,209.50 |
33,994,723.07 |
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Gain on Exchange
Rate |
406,498.61 |
- |
|
Interest Income |
482.17 |
314.45 |
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Total Revenues
|
36,485,190.28 |
33,995,037.52 |
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Expenses |
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Cost of Goods
Sold |
27,787,060.13 |
24,962,256.82 |
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Selling & Administrative Expenses |
6,453,957.60 |
6,761,369.47 |
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Total Expenses |
34,241,017.73 |
31,723,626.29 |
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Profit / [Loss] Before Interest
Expenses & Income Tax |
2,244,172.55 |
2,271,411.23 |
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Interest Expenses |
[374,217.98] |
[462,754.89] |
|
Income Tax |
[395,008.12] |
[354,160.76] |
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Net Profit / [Loss] |
1,474,946.45 |
1,454,495.58 |
FINANCIAL NOTES
NOTE 1
: Fixed Assets
|
|
2005 |
2004 |
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Building & Construction |
421,851.81 |
133,541.71 |
|
Hand Tools &
Appliances |
21,252.21 |
21,252.21 |
|
Office Automation |
1,524,578.00 |
1,464,130.99 |
|
Office Decoration |
120,971.03 |
65,567.29 |
|
Vehicle |
5,324,427.78 |
5,324,427.78 |
|
Total |
7,413,080.83 |
7,008,919.98 |
|
Less: Accumulated
Depreciation |
[1,893,897.62] |
[5,525,395.18] |
|
Total |
1,893,897.62 |
1,756,524.80 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2005 |
2004 |
|
Net Sales |
6.13 |
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Operating Profit |
[6.90] |
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Net Profit |
1.41 |
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|
Fixed Assets |
7.82 |
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Total Assets |
[6.32] |
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Profitability |
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Cost of Good
Sold |
77.02 |
73.43 |
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Operating Profit Margin |
6.22 |
6.68 |
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S & A
Expenses |
17.89 |
19.89 |
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Interest Paid |
1.04 |
1.36 |
|
Other Revenues |
1.13 |
0.00 |
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Net Profit Margin |
4.09 |
4.28 |
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Earning Per Shares |
49.16 |
48.48 |
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No. of Shares |
30,000 |
30,000 |
Net Sales was
increased by 6.13%,
Operating Profit was
decreased by 6.90%,
Net Profit was
increased by 1.41%,
Fixed Assets was
increased by 7.82%,
Total Assets was
decreased by 6.32%.
Compare each cost
with sales, Cost of
Good Sold was
increased from 73.43%
to 77.02%, Operating
Profit Margin was
decreased from 6.68%
to 6.22%, S
& A Expenses
was decreased from
19.89% to 17.89%,
Interest Paid was decreased
from 1.36% to
1.04%, Other Revenues
was increased from
0.00% to 1.13%,
Net Profit Margin
was decreased from
4.28% to 4.09%.
Earning Per Shares
was increased from
48.48 baht per
share to 49.16
baht per share.
Liquidity
|
Liquidity |
2005 |
2004 |
|
Current Ratio |
1.91 |
1.66 |
|
Quick-Assets Ratio |
1.05 |
1.07 |
Current Ratio was
increased from 1.66
to 1.91, show
Current Assets can
cover Current Liabilities,
Liquidity Ratio of
the company was
good, Quick-Assets Ratio
was decreased from
1.07 to 1.05,
capacity to pay
Short Term Loan
was good too, because
Current Assets without
Inventory can cover
Current Liabilities.
Leverage
|
Leverage |
2005 |
2004 |
|
D/E Ratio |
0.95 |
1.32 |
|
Times Interest Earned |
6.00 |
4.91 |
D/E Ratio was
decreased from 1.32
to 0.95, show
the company had
fund from Equity
more than fund
from Loan, investment
risked of the
company is low,
Times Interest Earned
was increased from
4.91 to 6.00,
capacity to pay
interest paid was
good.
Efficiency
|
Efficiency |
2005 |
2004 |
|
Fixed Assets Turnover |
19.05 |
19.35 |
|
Total Assets Turnover |
1.25 |
1.11 |
|
Return on Assets |
5.13 |
4.73 |
|
Return on Equity |
10.01 |
10.96 |
|
Day's Payable |
38.34 |
57.51 |
|
Day’s Inventories |
99.36 |
103.79 |
|
Day’s Receivables |
143.66 |
196.56 |
Fixed Assets Turnover
was decreased from
19.35 times to
19.05 times, Total
Assets Turnover was
increased from 1.11
times to 1.25
times, show the
company could use
Assets so efficiently,
Return on Assets
was increased from
4.73 to 5.13,
Return on Equity
was decreased from
10.96 to 10.01,
capacity to use
Assets to make
profit was good.
Day's Payable was
decreased from 58
days to 39
days, Day’s Inventories
was decreased from
104 days to
100 days, and
Day’s Receivables was
decreased from 197
days to 144
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/normal. |
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 |
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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%)