MIRA
INFORM REPORT
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Report Date : |
27th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
HAWAMOTO [THAILAND] CO., LTD. |
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Registered Office : |
15th Floor, Amornphan Tower II, 135/43 Ratchadapisek Road, Dindaeng, Bangkok 10400 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
27.05.1997 |
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Com. Reg. No.: |
0105540050281 [Former : [3]947/3540] |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in trading
business by importing, distributing and exporting wide range of industrial products such as
plastic and petrochemical, agricultural,
rubber, pulp and paper. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company name
HAWAMOTO [THAILAND]
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 15th
FLOOR, AMORNPHAN TOWER
II,
135/43
RATCHADAPISEK ROAD,
DINDAENG,
BANGKOK 10400
TELEPHONE : [66] 2276-0739-40
FAX :
[66] 2276-0740
E-MAIL ADDRESS : chattip@hawamoto.net
sales@hawamoto.net
REGISTRATION ADDRESS : 84 TESABAL
1 ROAD, WAT KALAYA,
THONBURI,
BANGKOK
10600
ESTABLISHED : 1997
REGISTRATION NO.
:
0105540050281 [Former : [3]947/3540]
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. VORAKORN TASANEEPAP, THAI
MANAGING
DIRECTOR
NO. OF
STAFF : 10
LINES OF
BUSINESS : TRADING COMPANY
IMPORTER,
DISTRIBUTOR AND EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR WITH
NORMAL BUSINESS ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on May 27, 1997 as a
private limited company under the originally registered
name “Islamic Business Corporation
Co., Ltd.,” by
Thai groups. On April
23, 2001, subject
was changed its
name to “Islamic Services Co.,
Ltd.”, and then
changed to the
present name, HAWAMOTO
[THAILAND] CO., LTD., on
December 18, 2002.
Its business objective
is an importer,
distributor and exporter wide range of
industrial products. It
currently employs 10
staff.
The
subject’s registered address
is 84 Tesabal 1 Rd.,
Wat Kalaya, Thonburi,
Bangkok 10600, while
the current operation
address is located
at 135/43 Amornphan
Tower II, Ratchadapisek Rd., Dindaeng, Bangkok
10400.
THE BOARD OF DIRECTOR
Mr. Vorakorn Tasaneepap
AUTHORIZED PERSON
The above director
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Vorakorn Tasaneepap
is the Managing Director.
He is Thai nationality with
the age of
40 years old.
BUSINESS OPERATIONS
The subject is
engaged in trading
business by importing,
distributing and exporting wide range of industrial
products such as
plastic and petrochemical, agricultural,
rubber, pulp and paper, according
to customers’ requirement. The subject has
started its activity
in 2006.
PURCHASE
60% of the products is
purchased from local
suppliers, and the
remaining 40% is
imported from many
countries in Europe
and Asia.
SALES
60% of the products is
exported to U.S.A.,
and countries in
Europe, Asia and
South Africa.
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
T/T.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately 10 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading address. Premise
is located in
commercial/residential area.
COMMENT
The
subject is still
under its first
stage of operation. Its
operation has been
started in 2006,
therefore, it had no sales
revenue recorded for
2005. Any business
engagement with the
subject should be
on secured basis
only.
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,
2005]
|
NAME |
HOLDING |
% |
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Mr.
Vorakorn Tasaneepap Nationality: Thai Address : 62/8
Chan Rd., Wat
Phrayakrai,
Bangkorlaem, Bangkok |
9,994 |
99.94 |
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Mrs.
Chaluay Sutthivanich Nationality: Thai Address : 322/127
Ratchadapisek Rd., Dindaeng,
Bangkok |
1 |
0.01 |
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Mr.
Chavalit Sutthivanich Nationality: Thai Address : 322/127
Ratchadapisek Rd., Dindaeng,
Bangkok |
1 |
0.01 |
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Ms. Jirawan Sutthivanich Nationality: Thai Address : 322/127
Ratchadapisek Rd., Dindaeng,
Bangkok |
1 |
0.01 |
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Ms.
Chatthip Sutthivanich Nationality: Thai Address : 322/127
Ratchadapisek Rd., Dindaeng,
Bangkok |
1 |
0.01 |
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Ms. Suchada Tasaneepap Nationality: Thai Address : 62/6
Chan Rd., Wat
Phrayakrai,
Bangkorlaem, Bangkok |
1 |
0.01 |
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Mr. Vichai Tasaneepap Nationality: Thai Address : 62/6
Chan Rd., Wat
Phrayakrai, Bangkorlaem, Bangkok |
1 |
0.01 |
Total Shareholders : 7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Nisant Thamsuan No. 7380
BALANCE SHEET [BAHT]
The latest
financial figures published
for December 31,
2005 & 2004
were:
ASSETS
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Current Assets |
2005 |
2004 |
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Cash in hand |
4,253.31 |
6,689.99 |
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Deferred Interest |
1,616.67 |
1,616.67 |
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Total Current
Assets |
5,869.98 |
8,306.66 |
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Long Term Loan
to Related Person
|
970,000.00 |
970,000.00 |
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Total Assets |
975,869.98 |
978,306.66 |
LIABILITIES & SHAREHOLDERS' EQUITY
[BAHT]
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Current Liabilities |
2005 |
2004 |
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Accrued Expenses |
4,000.00 |
4,000.00 |
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Total Current
Liabilities |
4,000.00 |
4,000.00 |
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Total Liabilities |
4,000.00 |
4,000.00 |
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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 |
1,000,000.00 |
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Capital Paid |
1,000,000.00 |
1,000,000.00 |
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Retained Earning -
Unappropriated |
[28,130.02] |
[25,693.34] |
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Total
Shareholders' Equity |
971,869.98 |
974,306.66 |
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Total
Liabilities & Shareholders' Equity |
975,869.98 |
978,306.66 |
PROFIT & LOSS ACCOUNT
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Revenue |
2005 |
2004 |
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Interest Income |
1,616.67 |
1,616.67 |
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Total Revenues
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1,616.67 |
1,616.67 |
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Expenses |
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Selling & Administrative Expenses |
4,053.35 |
4,079.98 |
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Total Expenses |
4,053.35 |
4,079.98 |
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Net Profit / [Loss] |
[2,436.68] |
[2,463.31] |
FINANCIAL ANALYSIS
Annual Growth & Profitability
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Annual Growth |
2005 |
2004 |
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Net Profit |
1.08 |
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Total Assets |
[0.25] |
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Profitability |
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Earning Per Shares |
[0.24] |
[0.25] |
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No. of Shares |
10,000 |
10,000 |
Net Profit was
increased by 1.08%,
Total Assets was
decreased by 0.25%.
Earning Per Shares
was increased from
-0.25 baht per
share to -0.24
baht per share.
Liquidity
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Liquidity |
2005 |
2004 |
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Current Ratio |
1.47 |
2.08 |
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Quick - assets ratio |
1.47 |
2.08 |
Current Ratio was
decreased from 2.08
to 1.47, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, and Quick-assets Ratio was decreased
from 2.08 to
1.47, 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 |
0.00 |
0.00 |
D/E Ratio was
stable at 0.00,
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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Return on Assets |
[0.25] |
[0.25] |
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Return on Equity |
[0.25] |
[0.25] |
Return on Assets
was stable at
-0.25, Return on
Equity was stable
at -0.25, 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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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%)
PRIVATE & CONFIDENTIAL : This information
is provided to you at your request, you having employed MIPL for such purpose.
You will use the information as aid only in determining the propriety of giving
credit and generally as an aid to your business and for no other purpose. You
will hold the information in strict confidence, and shall not reveal it or make
it known to the subject persons, firms or corporations or to any other. MIPL
does not warrant the correctness of the information as you hold it free of any
liability whatsoever. You will be liable to and indemnify MIPL for any loss,
damage or expense, occasioned by your breach or non observance of any one, or
more of these conditions