MIRA
INFORM REPORT
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Report Date : |
02.05.2007 |
IDENTIFICATION DETAILS
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Name : |
ANILA GEM INTERNATIONAL COMPANY LIMITED |
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Registered Office : |
10/3-5
Moo 2, |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1985 |
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Com. Reg. No.: |
0105528039737 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing the various
styles and designs
of fine jewelry |
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
ANILA GEM INTERNATIONAL COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 10/3-5 MOO
2,
T. KOKFAED, A. NONGJOK,
TELEPHONE : [66] 2548-2011,
2548-2016, 2956-9147-51
FAX : [66] 2956-9153,
2548-2017
E-MAIL ADDRESS : info@anilagem.com
anila-gem@mozart.inet.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1985
REGISTRATION NO. : 0105528039737 [Former: 3973/ 2528]
CAPITAL
REGISTERED : BHT. 50,000,000
CAPITAL
PAID-UP : BHT. 50,000,000
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. MOHAMMAD JUNID,
THAI
MANAGING DIRECTOR
NO. OF
STAFF : 600
LINES OF
BUSINESS : JEWELRY PRODUCTS
MANUFACTURER AND
EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject
was established on
November 14, 1985
as a private
limited company under the
registered name AQSA
ENTERPRISE COMPANY LIMITED
by Thai-Pakistani groups.
On December
14, 2000, subject was
changed its name
to be ANILA GEM INTERNATIONAL COMPANY
LIMITED, with the business objective
to manufacture variety
of jewelry products
for exports. It is
one of the
best top 10 leading
manufacturers of jewelry
in Thailand. It
currently employs approximately
600 staff.
The
subject’s registered address
is 10/3-5 Moo 2,
Liabvaree Rd., Kokfaed,
Nongjok, Bangkok 10530,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
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Nationality |
Age |
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Mr. Mohammad Junid |
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Thai |
42 |
|
Mr. Mohammad Asif Ratanaruengtrakul |
|
Thai |
44 |
|
Mr. Mohammad Riswan Kazim |
|
Thai |
26 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Mohammad Junid
is the Managing
Director.
He is Thai nationality with
the age of
42 years old.
Mr. Mohammad Sohei
is the Sales
& Marketing Manager.
He is Thai
nationality.
Mr. Vorapol Mulakham
is the Production
Manager.
He is Thai
nationality.
Mr. Mohammad Asif
Ratanaruengtrakul is the
General Manger [Customer
Services].
He is Thai
nationality with the
age of 44 years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
the various styles
and designs of
fine jewelry in
14k and 18k
gold, set with
diamonds and other
precious and semi
precious stones.
PURCHASE
Raw materials such
as diamond, gem
stone and accessories
are purchased from
suppliers both in
domestic and overseas
in India, Singapore,
Germany, France, Malaysia
and Africa.
EXPORT
100%
of the products
is exported to
United States of
America, Japan, India, Singapore,
Taiwan, Malaysia, Hong
Kong, Italy, Switzerland,
Netherlands and Middle
East country.
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
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
L/C at sight
or T/T.
BANKING
Bangkok Bank
Public Co., Ltd.
[Head Office :
The Siam
Commercial Bank Public
Co., Ltd.
[Head Office :
EMPLOYMENT
The
subject employs approximately
600 office staff
and factory workers.
LOCATION DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in residential
area.
Sale
Office is located
at 59-61 Maheasak
Rd., Suriyawongse, Bangrak,
Bangkok 10500.
Tel.
[66] 2234-6072, Fax. [66]
2237-2185.
COMMENT
The subject is one of the country’s top ten jewelry manufacturers and exporters under the
trademark of the customers. The products
are for domestic and exports
to international markets. The company is now under expansion process
of its manufacture, in order to support the sale growth in the future.
The latest
trends in the
jewelry designs and the
combination skills of
the latest technology
with the production
have helped the
company to be
more productive with
creating innovation for
the new jewelry trade
market.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 1,000
shares of Bht. 1,000 each.
The
capital was increased
later as following:
Bht. 15,000,000
on July 14,
1995
Bht. 30,000,000
on June 30,
1997
Bht. 50,000,000
on October 30,
2002
The
latest registered capital
was increased to
Bht. 50,000,000 divided into
50,000 shares of
Bht. 1,000 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 29,
2006]
|
NAME |
HOLDING |
% |
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|
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Mr. Gulam
Mohammad Kazim Nationality: Thai Address : Sathorn, |
21,140 |
42.28 |
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Mr.
Mohammad Junid Nationality: Thai Address : |
18,125 |
36.25 |
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Mr.
Mohammad Asif Ratanaruengtrakul Nationality: Thai Address : |
8,040 |
16.08 |
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Mrs. Zarifa Bai Nationality: Thai Address :
Sathorn, |
2,575 |
5.15 |
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Mr. Anake Saelim Nationality: Thai Address : |
40 |
0.08 |
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Mr. Puen Thongkwao Nationality: Thai Address :
Prakanong, |
40 |
0.08 |
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Ms. Nitaya Sanjakornhiran Nationality: Thai Address : Rajburana, |
40 |
0.08 |
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Mr. Anand Thongsamrith No.
4903
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 |
364,527,448 |
282,657,983 |
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Trade Accts. Receivable |
240,300,816 |
184,458,504 |
|
Inventories
[note 1] |
180,516,027 |
147,661,776 |
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Other Current Assets |
9,742,497 |
6,998,122 |
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Total Current
Assets |
795,086,788 |
621,776,385 |
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Fixed Assets [note 2] |
101,189,089 |
101,067,856 |
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Other Assets |
388,500 |
812,439 |
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Total Assets
|
896,664,377 |
723,656,680 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2005 |
2004 |
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|
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Trade Accts. Payable |
673,903,567 |
519,478,036 |
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Accrued Income Tax |
4,611,874 |
4,482,551 |
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Advanced Receipt |
39,102,345 |
37,360,084 |
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Other Current Liabilities |
6,238,054 |
5,970,592 |
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Total Current
Liabilities |
723,855,840 |
567,291,263 |
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Total Liabilities |
723,855,840 |
567,291,263 |
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Shareholders'
Equity |
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Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 50,000 shares |
50,000,000 |
50,000,000 |
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Capital Paid |
50,000,000 |
50,000,000 |
|
Retained Earning -
Unappropriated |
122,808,537 |
106,365,417 |
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Total
Shareholders' Equity |
172,808,537 |
156,365,417 |
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Total
Liabilities & Shareholders' Equity |
896,664,377 |
723,656,680 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2005 |
2004 |
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Sales |
1,167,067,363 |
1,096,959,248 |
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Other Income |
3,257,238 |
4,057,784 |
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Total Revenues
|
1,170,324,601 |
1,101,017,032 |
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Expenses |
|
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Cost of Goods
Sold |
1,084,439,228 |
1,028,285,277 |
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Selling & Administrative Expenses |
62,277,692 |
52,637,752 |
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Total Expenses |
1,146,716,920 |
1,080,923,029 |
|
Profit / [Loss] Before Income
Tax |
23,607,681 |
20,094,003 |
|
Income Tax |
[7,164,561] |
[6,963,388] |
|
Net Profit / [Loss] |
16,443,120 |
13,130,615 |
FINANCIAL NOTE
NOTE 1 Inventories
[Thousand Baht]
|
|
2005 |
2004 |
|
|
|
|
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Finished Goods |
31,902 |
24,384 |
|
Raw Material |
148,614 |
123,278 |
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Total
|
180,516 |
147,662 |
NOTE 2
Fixed Assets
[Thousand Baht]
|
|
2005 |
2004 |
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Land |
30,300 |
30,300 |
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Building |
60,488 |
58,700 |
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Building Improvement |
8,866 |
5,706 |
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Office Equipment &
Furniture |
8,210 |
8,750 |
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Factory Furniture & Hand
Tools |
22,068 |
20,835 |
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Vehicle |
1,711 |
2,275 |
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Works under Construction |
888 |
1,160 |
|
Total |
132,531 |
127,726 |
|
Less: Depreciation |
[31,342] |
[26,658] |
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Total
|
101,189 |
101,068 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2005 |
2004 |
|
Net Sales |
6.39 |
|
|
Operating Profit |
10.43 |
|
|
Net Profit |
25.23 |
|
|
Fixed Assets |
0.12 |
|
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Total Assets |
23.91 |
|
|
Profitability |
|
|
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Cost of Good
Sold |
92.92 |
93.74 |
|
Operating Profit Margin |
2.02 |
1.83 |
|
S & A
Expenses |
5.34 |
4.80 |
|
Other Revenues |
0.28 |
0.37 |
|
Net Profit Margin |
1.41 |
1.20 |
|
Earning Per Shares |
328.86 |
262.61 |
|
No. of Shares |
50,000 |
50,000 |
Net Sales was
increased by 6.39%,
Operating Profit was
increased by 10.43%,
Net Profit was
increased by 25.23%,
Fixed Assets was
increased by 0.12%,
Total Assets was
increased by 23.91%.
Compare each cost
with sales, Cost of
Good Sold was
decreased from 93.74%
to 92.92%, Operating
Profit Margin was
increased from 1.83%
to 2.02%, S
& A Expenses
was increased from
4.80% to 5.34%,
Other Revenues was
decreased from 0.37%
to 0.28%, Net
Profit Margin was
increased from 1.20%
to 1.41%.
Earning Per Shares
was increased from
262.61 baht per
share to 328.86
baht per share.
Liquidity
|
Liquidity |
2005 |
2004 |
|
Current Ratio |
1.10 |
1.10 |
|
Quick-Assets Ratio |
0.84 |
0.82 |
Current Ratio was
increased from 1.10
to 1.10, show
Current Assets can
cover Current Liabilities,
Liquidity Ratio of
the company was
good, Quick-Assets Ratio
was increased from
0.82 to 0.84,
capacity to pay Short Term
Loan was not
good, because Current
Assets without Inventory
can not cover
Current Liabilities.
Leverage
|
Leverage |
2005 |
2004 |
|
D/E Ratio |
4.19 |
3.63 |
D/E Ratio was
increased from 3.63
to 4.19, show
the company had
fund from Loan
more than fund
from Equity, investment
risked of the
company is high.
Efficiency
|
Efficiency |
2005 |
2004 |
|
Fixed Assets Turnover |
11.53 |
10.85 |
|
Total Assets Turnover |
1.30 |
1.52 |
|
Return on Assets |
1.83 |
1.81 |
|
Return on Equity |
9.52 |
8.40 |
|
Day's Payable |
207.88 |
170.48 |
|
Day’s Inventories |
55.68 |
48.46 |
|
Day’s Receivables |
74.12 |
60.54 |
Fixed Assets Turnover
was increased from
10.85 times to
11.53 times, Total
Assets Turnover was
decreased from 1.52
times to 1.30
times, show the
company could use
Fixed Assets so
efficiently, Return on
Assets was increased
from 1.81 to
1.83, Return on
Equity was increased
from 8.40 to
9.52, capacity to
use Assets to
make profit was
good.
Day's Payable was
increased from 171
days to 208
days, Day’s Inventories
was increased from
49 days to
56 days, and
Day’s Receivables was
increased from 61
days to 75
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 |
|
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 |
|
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%)