MIRA
INFORM REPORT
|
Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
TOMAS OVERSEA CO., LTD. |
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Registered Office : |
1901
Areena Garden, Soi
Wachiratham Sathit 57, Sukhumvit
77 Road, Bangchak, Prakanong, Bangkok
10260 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
0105548161252 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and distributing various kinds of
agrochemical products. |
RATING &
COMMENTS
|
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
name
TOMAS OVERSEA CO., LTD.
SUMMARY
BUSINESS ADDRESS : 1901
AREENA GARDEN, SOI
WACHIRATHAM
SATHIT 57,
SUKHUMVIT 77 ROAD,
BANGCHAK,
PRAKANONG, BANGKOK
10260
TELEPHONE : [66] 2716-2595-7
FAX : [66] 2716-2671
E-MAIL ADDRESS : ur-ann@hotmail.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2005
REGISTRATION NO.
: 0105548161252 [Former : 0108754815401]
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 : MR. TAE WEON CHUNG, SOUTH
KOREAN
MANAGING DIRECTOR
NO. OF
STAFF : 4
LINES OF
BUSINESS : AGROCHEMICALS
IMPORTER AND
DISTRIBUTOR
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 December 14,
2005 as a
private limited company under the name style
TOMAS OVERSEA CO.,
LTD., by Thai and
South Korean groups,
in order to
import and distribute
various kinds of
agrochemical products to
domestic market. It
currently employs 4
staff.
The
subject’s registered address is 1901 Sukhumvit
77 Rd., Bangchak,
Phrakanong, Bangkok 10260,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Tae Weon Chung |
|
South Korean |
44 |
|
Mrs. Jeong Shim Bae |
|
South Korean |
53 |
|
Ms. Prapassorn Inthamongkolsuk |
|
Thai |
32 |
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Tae Weon
Chung is the Managing Director.
He is South Korean nationality
with the age
of 44 years old.
Ms.
Prapassorn Inthamongkolsuk is
the General Manager.
She is Thai nationality with
the age of
32 years old.
BUSINESS OPERATIONS
The subject is engaged
in importing and
distributing various kinds
of agrochemical products.
IMPORT
Most
of the products are imported
from Korea, Taiwan
and Republic of
China.
SALES
100% of the
products is sold
locally by wholesale
to dealers 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
according for the
past two years.
CREDIT
Sales are by
cash or on
the credit term
of 30 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
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs 4
staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading address. Premise
is located in
commercial/residential area.
COMMENT
The
market of agrochemical
products have been
widely used by
local agricultural industry.
The
subject has potential
business in the
promising market.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 3,000,000 divided
into 30,000 shares of Bht. 100 each with fully
paid.
THE SHAREHOLDERS LISTED WERE :
[as at
December 14,
2006 ]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Jae Yun
Chung Nationality: South Korean Address : 55
Sukhumvit 63 Rd.,
Klongtonnua,
Wattana, Bangkok |
10,000 |
33.33 |
|
Ms.
Prapassorn Inthamongkolsuk Nationality: Thai Address : 14/53
Moo 1, Bangrin,
Muang, Ranong |
5,000 |
16.67 |
|
Ms. Wasana Sanitthai Nationality: Thai Address : 67
Moo 3, Banchien,
Hanka, Chainat |
5,000 |
16.67 |
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Mr. Somsak Banthad Nationality: Thai Address : 199
Moo 4, Banchien, Hanka,
Chainat |
5,000 |
16.67 |
|
Mrs. Jeong Shim
Bae Nationality: South Korean Address : 55
Sukhumvit 63 Rd.,
Klongtonnua,
Wattana, Bangkok |
4,000 |
13.33 |
|
Mr. Tae Weon
Chung Nationality: South Korean Address : 55
Sukhumvit 63 Rd.,
Klongtonnua,
Wattana, Bangkok |
700 |
2.33 |
|
Ms. Panida Sattayawee Nationality: Thai Address : 17
Moo 4, Talingngam, Koh Samui, Suratthani |
300 |
1.00 |
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO. :
Mr. Yuthapoom Ngamvichan
No. 7613
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2005 was:
ASSETS
|
Current Assets |
2005 |
|
|
|
|
Cash in hand
& at Bank
|
113,729.81 |
|
Trade Accts. Receivable-Related Company |
634,938.00 |
|
Loan to Related
Person |
1,900,000.00 |
|
Advanced Paid Good |
176,408.01 |
|
Other Current Assets
|
8,000.00 |
|
Total Current
Assets |
2,833,075.82 |
|
|
|
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Fixed Assets |
3,242.88 |
|
Other Assets |
500,000.00 |
|
Total Assets |
3,336,318.70 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2005 |
|
|
|
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Trade Accts. Payable |
477,648.00 |
|
Pre-receipt Income |
140,000.00 |
|
Other Current Liabilities |
43,700.13 |
|
Total Current
Liabilities |
661,348.13 |
|
Total Liabilities |
661,348.13 |
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
Share capital : Baht 100 par
value authorized, issued
and fully paid share
capital 30,000 shares |
3,000,000.00 |
|
Capital Paid |
3,000,000.00 |
|
Retained Earning -
Unappropriated |
[325,029.43] |
|
Total
Shareholders' Equity |
2,674,970.57 |
|
Total
Liabilities & Shareholders' Equity |
3,336,318.70 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
Dec.
14, 2005- Dec.
31, 2005 |
|
|
|
|
Sales & Services |
593,400.00 |
|
Other Income |
0.20 |
|
Total Revenues
|
593,400.20 |
|
Expenses |
|
|
|
|
|
Cost of Goods
Sold & Services |
446,400.00 |
|
Selling & Administrative Expenses |
472,029.63 |
|
Total Expenses |
918,429.63 |
|
Net Profit / [Loss] |
[325,029.43] |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Profitability |
2005 |
|
Cost of Good
Sold |
75.23 |
|
Operating Profit Margin |
[54.77] |
|
S & A
Expenses |
79.55 |
|
Other Revenues |
0.00 |
|
Net Profit Margin |
[54.77] |
|
Earning Per Shares |
[10.83] |
|
No. of Shares |
30,000 |
Compare each cost
with sales, Cost of
Good Sold was
75.23%, Operating Profit
Margin was -54.77%,
S & A
Expenses was 79.55%,
Other Revenues was
0.00%, Net Profit
Margin was -54.77%.
Earning Per Shares
was decreased from
0.00 baht per
share to -10.83
baht per share.
Liquidity
|
Liquidity |
2005 |
|
Current Ratio |
4.28 |
|
Quick - assets
ratio |
4.27 |
Current Ratio was
increased from 0.00
to 4.28, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, Quick -
assets ratio was
increased from 0.00
to 4.27, capacity
to pay Short Term Loan
was good too,
because Current Assets
without Inventory can
cover Current Liabilities.
Leverage
|
Leverage |
2005 |
|
D/E Ratio |
0.25 |
D/E Ratio was
0.25, show the
company had fund
from Loan more
than fund from
Equity, investment risked
of the company is low.
Efficiency
|
Efficiency |
2005 |
|
Fixed Assets Turnover |
182.99 |
|
Total Assets Turnover |
0.18 |
|
Return on Assets |
[9.74] |
|
Return on Equity |
[12.15] |
|
Day's Payable |
290 |
|
Day’s Receivables |
386 |
Fixed Assets Turnover
was 182.99 times,
Total Assets Turnover
was 0.18 times,
show the company
could use Assets
so efficiently, Return
on Assets was
-9.74, Return on
Equity was decreased
from 0.00 to
use Assets to
make profit was
good.
Day's Payable was
to 290 days, Day’s Receivables
was 386 days.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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%)