MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
K. D. IMPORT LIMITED PARTNERSHIP |
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Registered Office : |
364 Ladprao Road, T. Chomphon, A. Jatujak, Bangkok 10900 |
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Country : |
Thailand |
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Financials (as on) : |
30.11.2006 |
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Date of Incorporation : |
1986 |
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Com. Reg. No.: |
0103529030464 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Distributing
And Supplying Wide
Range Of Industrial Machinery And Spare
Parts |
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. |
Small |
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Maximum Credit Limit : |
US $ 15,000,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name and address
K. D. IMPORT LIMITED PARTNERSHIP
SUMMARY
BUSINESS ADDRESS : 364 LADPRAO ROAD, T. CHOMPHON,
A. JATUJAK, BANGKOK 10900
TELEPHONE : [66] 2511-1002, 2938-7374
FAX : [66] 2938-7394
REGISTRATION ADDRESS : SAME AS BUSINESS ADDRESS
ESTABLISHED : 1986
REGISTRATION NO. : 0103529030464 [Former : 3046/2529]
CAPITAL REGISTERED : BHT. 1,500,000
CAPITAL PAID-UP : BHT. 1,500,000
FISCAL YEAR CLOSING DATE : NOVEMBER 30
LEGAL STATUS : LIMITED PARTNERSHIP
EXECUTIVE : MR. DAMNERN KRIENGPRASERT, THAI
MANAGING PARTNER
NO. OF STAFF : 7
LINES OF BUSINESS : INDUSTRIAL MACHINERY AND PARTS
DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD WITH NORMAL BUSINESS ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH FAIR PERFORMANCE
HISTORY
The subject was formed on December 15, 1986 as a limited partnership, under the registered name K.D. IMPORT LIMITED PARTNERSHIP, by Mr. Damnern Kriengprasert and Mr. Damri Kriengprasert, who are the Thai partners, in order to distribute and supply wide range of industrial machinery and spare parts to domestic market. It currently employs 7 staff.
The subject’s registered address is 364 Ladprao Rd., Chomphon, Jatujak, Bangkok 10900, and this is the subject’s current operation address.
AUTHORIZED PERSON
Mr. Damnern Kriengprasert can sign on behalf of the subject with seal affixed. He also bears full financial responsibility by law.
MANAGEMENT
Mr. Damnern Kriengprasert is the Managing Partner.
He is Thai nationality.
BUSINESS OPERATIONS
The subject is engaged in distributing and supplying wide range of industrial machinery and spare parts, according to customer’s requirement.
PURCHASE
100% of the products are purchased from local supplier.
SALES
The products are sold locally to 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 to IRICO’S DATABASE 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.
BANKING
The Siam Commercial Bank Public Co., Ltd.
EMPLOYMENT
The subject employs 7 staff.
LOCATION DETAILS
The premise is owned for administrative office at the heading address. Premise is located in commercial/ residential area.
REMARK
CREDIT OF US$ 15,000,000 IS TOO HIGH TO RECOMMEND.
COMMENT
The subject operates as a small to medium size business of supplying and distributing industrial machinery and spare parts to local factories. Its operating performance is moderately grown. Considering on the scope and scale of its business, the above credit is too high to recommend.
FINANCIAL INFORMATION
The capital was registered at Bht. 1,500,000 which was carried by 2 persons as followed:
Name Amount
Mr. Damnern Kriengprasert Bht. 900,000 [unlimited partner]
Mr. Damri Kriengprasert Bht. 600,000
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT NO.
Mrs. Prapaiphan Sangkahapong No. 0764
BALANCE SHEET [BAHT]
The latest financial figures published for November 30, 2006 & 2005 were:
ASSETS
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Current Assets |
2006 |
2005 |
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Cash in hand & at Bank |
313,494.33 |
69,827.56 |
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Inventories |
1,506,111.93 |
5,964,975.26 |
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Other Current Assets |
- |
323,302.01 |
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Total Current Assets |
1,819,606.26 |
6,358,104.83 |
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Fixed Assets |
17,295.83 |
1,750.10 |
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Other Assets |
5,418.10 |
5,418.10 |
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Total Assets |
1,842,320.19 |
6,365,273.03 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
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Current Liabilities |
2006 |
2005 |
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Trade Accts. Payable |
319,930.00 |
- |
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Payable-Revenue Department |
17,455.76 |
- |
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Loan from Person or Related Company |
620,000.00 |
5,900,000.00 |
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Other Current Liabilities |
311,674.21 |
142,710.93 |
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Total Current Liabilities |
1,269,059.97 |
6,042,710.93 |
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Total Liabilities |
1,269,059.97 |
6,042,710.93 |
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Shareholders' Equity |
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Capital Paid |
1,500,000.00 |
1,500,000.00 |
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Retained Earning - Unappropriated |
[926,739.78] |
[1,177,437.90] |
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Total Shareholders' Equity |
573,260.22 |
322,562.10 |
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Total Liabilities & Shareholders' Equity |
1,842,320.19 |
6,365,273.03 |
PROFIT & LOSS ACCOUNT
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Revenue |
2006 |
2005 |
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Sales |
9,490,433.54 |
2,862,660.60 |
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Gain on Exchange Rate |
7,854.38 |
- |
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Total Revenues |
9,498,287.92 |
2,862,660.60 |
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Expenses |
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Cost of Goods Sold |
8,520,313.61 |
2,277,949.73 |
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Selling & Administrative Expenses |
680,076.98 |
444,650.21 |
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Total Expenses |
9,200,390.59 |
2,722,599.94 |
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Profit / [Loss] Before Income Tax |
297,897.33 |
140,060.66 |
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Income Tax |
[47,199.21] |
[29,360.93] |
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Net Profit / [Loss] |
250,698.12 |
110,699.73 |
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Retained Earning [deficit], beginning of year |
[1,177,437.90] |
[1,288,137.63] |
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Retained Earning [deficit], end of year |
[926,739.78] |
[1,177,437.90] |
FINANCIAL ANALYSIS
Annual Growth & Profitability
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Annual Growth |
2006 |
2005 |
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Net Sales |
231.52 |
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Operating Profit |
[35.84] |
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Net Profit |
126.47 |
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Fixed Assets |
888.28 |
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Total Assets |
[71.06] |
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Profitability |
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Cost of Good Sold |
89.78 |
79.57 |
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Operating Profit Margin |
3.14 |
4.89 |
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S & A Expenses |
7.17 |
15.53 |
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Other Revenues |
0.08 |
0.00 |
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Net Profit Margin |
2.64 |
3.87 |
Net Sales was increased by 231.52%, Operating Profit was decreased by 35.84%, Net Profit was increased by 126.47%, Fixed Assets was increased by 888.28%, Total Assets was decreased by 71.06%.
Compare each cost with sales, Cost of Good Sold was increased from 79.57% to 89.78%, Operating Profit Margin was decreased from 4.89% to 3.14%, S & A Expenses was decreased from 15.53% to 7.17%, Other Revenues was increased from 0.00% to 0.08%, Net Profit Margin was decreased from 3.87% to 2.64%.
Liquidity
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Liquidity |
2006 |
2005 |
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Current Ratio |
1.43 |
1.05 |
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Quick-Assets Ratio |
0.25 |
0.01 |
Current Ratio was increased from 1.05 to 1.43, show Current Assets can cover Current Liabilities, Liquidity Ratio of the company was so good, Quick-Assets Ratio was increased from 0.01 to 0.25, capacity to pay Short Term Loan was not good, because Current Assets without Inventory can not cover Current Liabilities.
Leverage
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Leverage |
2006 |
2005 |
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D/E Ratio |
2.21 |
18.73 |
D/E Ratio was decreased from 18.73 to 2.21, show the company had fund from Loan more than fund from Equity, investment risked of the company is medium.
Efficiency
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Efficiency |
2006 |
2005 |
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Fixed Assets Turnover |
548.71 |
1,635.71 |
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Total Assets Turnover |
5.15 |
0.45 |
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Return on Assets |
13.61 |
1.74 |
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Return on Equity |
43.73 |
34.32 |
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Day's Payable |
12.14 |
0.00 |
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Day’s Inventories |
57.13 |
750.14 |
Fixed Assets Turnover was decreased from 1,635.71 times to 548.71 times, Total Assets Turnover was increased from 0.45 times to 5.15 times, show the company could use Assets so efficiently, Return on Assets was increased from 1.74 to 13.61, Return on Equity was increased from 34.32 to 43.73, capacity to use Assets to make profit was good.
Day's Payable was increased from 0 days to 13 days, while Day’s Inventories was decreased from 751 days to 58 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 |
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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. |
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%)