MIRA
INFORM REPORT
|
Report Date : |
15.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
UNITECH CO., LTD. |
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Registered Office : |
184 Soi Meesuwan 3, Sukhumvit 71 Road,
Prakanongnua, Wattana, Bangkok 10110 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1984 |
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Com. Reg. No.: |
0105527005855 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in providing
service of design,
consultant, installation and
supplying wide range of
water systems. |
RATING &
COMMENTS
|
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 : |
No Complaints |
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Litigation : |
Clear |
name
UNITECH CO., LTD.
SUMMARY
BUSINESS ADDRESS : 184
SOI MEESUWAN 3,
SUKHUMVIT 71 ROAD,
PRAKANONGNUA, WATTANA,
BANGKOK 10110
TELEPHONE : [66] 2711-0767-8
FAX : [66] 2381-2976
E-MAIL ADDRESS : yanyong@loxinfo.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1984
REGISTRATION NO.
: 0105527005855
CAPITAL
REGISTERED : BHT. 25,000,000
CAPITAL
PAID-UP : BHT. 25,000,000
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS
: PRIVATE LIMITED COMPANY
EXECUTIVE : MR. YANYONG JU-ANUWATTANAKUL, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 120
LINES OF
BUSINESS : PURIFY WATER AND WASTEWATER
TREATMENT SYSTEMS
AND SOLUTIONS
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH GOOD PERFORMANCE
HISTORY
The subject was
established on February
10, 1984 as
a private limited
company under the name
style UNITECH CO.,
LTD., by Thai
group, to provide
product and service
of purify water
and wastewater treatment
systems and solutions
in Thailand. It
currently employs approximately 1 20 staff.
The
subject’s registered address
is 184 Soi Meesuwan 3,
Sukhumvit 71 Rd.,
Prakanongnua, Wattana, Bangkok 10110, and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
Mr. Yanyong Ju-anuwattanakul
AUTHORIZED PERSON
The above director
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Yanyong Ju-anuwattanakul is the Managing Director.
He is Thai nationality with
the age of
53 years old.
BUSINESS OPERATIONS
The subject is
engaged in providing
service of design,
consultant, installation and
supplying wide range of
water systems including
purify water, reverse
osmosis, waste water
treatment, clarification, pretreatment, electrode-ionization,
de-ionization and etc.
It is also an importer and
distributor of water
system equipment and
supplies, such as
wastewater chemical, water
pump & machinery,
valves, piping &
fitting, control equipment,
micron filter and
related instrument.
MAJOR BRAND
“DOWEX”, “DOW”, “CODELINE”,
“C&S”, “OSMONICS”, “SUMMIT”,
“TRIPLE O”, “SEKO” & etc.
IMPORT
Most
of the products are imported
from U.S.A., United
Kingdom, Italy, Australia,
and Austria.
MAJOR SUPPLIER
Triple
O System Inc. : U.S.A.
Osmonics
Inc. : U.S.A.
SALES
The products is
sold and serviced
locally to wholesalers
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
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.
EMPLOYMENT
The
subject employs approximately 120 office staff,
engineers and service
workers.
LOCATION DETAILS
The
premise is owned
for administrative office
at the heading address. Premise
is located in
commercial/ residential area.
Warehouses
is located at :
-
139 Soi Meesuwan
3, Sukhumvit 71
Rd., Prakanongnua, Wattana,
Bangkok 10110.
-
Bangpoo Industrial Estate,
Muang, Samutprakarn province.
COMMENT
The
subject’s operating performance
in 2006 is
considered satisfactory with
an increase in sales
revenue and net
profit comparing to
the previous year.
This is mainly
due to high demand of
the products and
service from related
industries. Its business
is promising and
growing steadily.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht. 100 each.
The
capital was increased
later as following:
Bht. 5,000,000 on July 31,
1991
Bht. 10,000,000 on July 18,
1994
Bht. 25,000,000 on March 8,
1999
The
latest registered capital
was increased to
Bht. 25,000,000, divided
into 250,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
: [as at
April 30, 2007]
|
NAME |
HOLDING |
% |
|
|
|
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Mr. Yanyong Ju-anuwattanakul Nationality: Thai Address : 115
Ladprao 91 Rd.,
Wangthonglang, Bangkok |
247,495 |
99.00 |
|
Mr.
Vibulsak Chukiattakerng Nationality: Thai Address : 10/128
Moo 9, Klongkum,
Buengkum, Bangkok |
2,500 |
1.00 |
|
Mrs.
Siriporn Sitthipraneat Nationality: Thai Address : 130/8
Rama 6 Rd.,
Samsennai, Phyathai, Bangkok |
1 |
- |
|
Mrs.
Suchada Ju-anuwattanakul Nationality: Thai Address : 130/8
Rama 6 Rd.,
Samsennai, Phyathai, Bangkok |
1 |
- |
|
Mr. Wallop Jaemwuthipreecha Nationality: Thai Address : 204/7
Moo 3, Sapansung, Bangkapi, Bangkok |
1 |
- |
|
Mrs.
Sureerat Charascholpajee Nationality: Thai Address :
1328/12 Taksin Rd.,
Bukkalo, Thonburi, Bangkok |
1 |
- |
|
Ms. Suwanna Seesophon Nationality: Thai Address : 712/40
Charoenkrung Rd., Bangkorlaem,
Yannawa, Bangkok |
1 |
- |
Total Shareholders
7
NAME OF AUDITOR &
CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Sasawan Varasin No.1887
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2006 &
2005 were:
ASSETS
|
Current Assets |
2006 |
2005 |
|
|
|
|
|
Cash in hand
& at Bank
|
110,683,386.13 |
86,073,517.76 |
|
Trade Accts. & Notes Receivable |
98,991,893.94 |
61,280,686.81 |
|
Inventories |
28,408,518.04 |
36,154,284.77 |
|
Other Current Assets
|
1,431,687.19 |
1,073,968.31 |
|
Total Current
Assets |
239,515,485.30 |
184,582,457.65 |
|
Investment |
3,108,240.00 |
3,108,240.00 |
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Fixed Assets |
16,164,299.08 |
17,201,702.77 |
|
Other Assets |
534,150.00 |
534,150.00 |
|
Total Assets |
259,322,174.38 |
205,426,550.42 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current Liabilities |
2006 |
2005 |
|
|
|
|
|
Bank Overdraft &
Short Term Loan
from Financial Institute |
8,539,923.06 |
224,587.94 |
|
Trade Accts. & Notes Payable |
53,871,088.03 |
50,999,241.87 |
|
Short Term Loan from
Person or Related Company |
2,312,515.80 |
1,323,982.22 |
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Accrued Expenses |
9,951,690.68 |
9,098,037.29 |
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Other Current Liabilities |
5,606,965.71 |
565,502.15 |
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Total Current
Liabilities |
80,282,183.28 |
62,211,351.47 |
|
Pre-receipt Deposit |
26,593,300.00 |
14,112,000.00 |
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Other Liabilities |
1,923,166.52 |
1,671,764.70 |
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Total Liabilities |
108,798,649.80 |
77,995,116.17 |
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Shareholders'
Equity |
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Share capital : Baht 100 par value
authorized, issued
and fully paid share
capital 250,000 shares |
25,000,000.00 |
25,000,000.00 |
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Capital Paid |
25,000,000.00 |
25,000,000.00 |
|
Retained Earning -
Unappropriated |
121,462,840.24 |
98,370,749.91 |
|
Statutory Reserve |
4,060,684.34 |
4,060,684.34 |
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Total
Shareholders' Equity |
150,523,524.58 |
127,431,434.25 |
|
Total
Liabilities & Shareholders' Equity |
259,322,174.38 |
205,426,550.42 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2006 |
2005 |
|
|
|
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Sales & Services
|
470,475,440.39 |
404,873,431.40 |
|
Other Income |
12,692,198.33 |
12,095,449.22 |
|
Gain on Exchange
Rate |
1,212,444.33 |
- |
|
Total Revenues
|
484,380,083.05 |
416,968,880.62 |
|
Expenses |
|
|
|
|
|
|
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Cost of Goods
Sold & Services |
390,102,736.90 |
345,420,730.34 |
|
Selling & Administrative Expenses |
42,468,814.02 |
35,651,873.52 |
|
Total Expenses |
432,571,550.92 |
381,072,603.86 |
|
Profit / [Loss] Before Interest
Expenses & Income Tax |
51,808,532.13 |
35,896,276.76 |
|
Interest Expenses |
[10,346.36] |
[1,061.31] |
|
Income Tax |
[13,869,642.74] |
[8,470,720.36] |
|
Loss on Exchange
Rate |
- |
[1,080,089.71] |
|
Gain on Sales
of Assets |
163,547.30 |
88,784.05 |
|
Net Profit / [Loss] |
38,092,090.33 |
26,433,189.43 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2006 |
2005 |
|
Net Sales |
16.20 |
|
|
Operating Profit |
24.20 |
|
|
Net Profit |
44.11 |
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|
Fixed Assets |
[6.03] |
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Total Assets |
26.24 |
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Profitability |
|
|
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Cost of Good
Sold |
82.92 |
85.32 |
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Operating Profit Margin |
11.01 |
8.87 |
|
S & A
Expenses |
9.03 |
8.81 |
|
Interest Paid |
0.00 |
0.00 |
|
Other Revenues |
2.96 |
2.99 |
|
Net Profit Margin |
8.10 |
6.53 |
|
Earning Per Shares |
152.37 |
105.73 |
|
No. of Shares |
250,000 |
250,000 |
Net Sales was
increased by 16.20%,
Operating Profit was
increased by 24.20%,
Net Profit was
increased by 44.11%,
Fixed Assets was
decreased by 6.03%,
Total Assets was
increased by 26.24%.
Compare each cost
with sales, Cost of
Good Sold was
decreased from 85.32%
to 82.92%, Operating
Profit Margin was
increased from 8.87%
to 11.01%, S
& A Expenses
was increased from
8.81% to 9.03%,
Interest Paid was increased
from 0.00% to
0.00%, Other Revenues
was decreased from
2.99% to 2.96%,
Net Profit Margin
was increased from
6.53% to 8.10%.
Earning Per Shares
was increased from
105.73 baht per
share to 152.37
baht per share.
Liquidity
|
Liquidity |
2006 |
2005 |
|
Current Ratio |
2.98 |
2.97 |
|
Quick-Assets Ratio |
2.61 |
2.37 |
Current Ratio was
increased from 2.97
to 2.98, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, Quick-Assets Ratio
was increased from
2.37 to 2.61,
capacity to pay
Short Term Loan
was good too,
because Current Assets
without Inventory can cover Current Liabilities.
Leverage
|
Leverage |
2006 |
2005 |
|
D/E Ratio |
0.72 |
0.61 |
|
Times Interest Earned |
5,007.42 |
33,822.61 |
D/E Ratio was
increased from 0.61
to 0.72, show
the company had
fund from Equity
more than fund
from Loan, investment
risked of the
company is low,
Times Interest Earned
was decreased from
33,822.61 to 5,007.42,
capacity to pay
interest paid was
good.
Efficiency
|
Efficiency |
2006 |
2005 |
|
Fixed Assets Turnover |
29.11 |
23.54 |
|
Total Assets Turnover |
1.81 |
1.97 |
|
Return on Assets |
14.69 |
12.87 |
|
Return on Equity |
25.31 |
20.74 |
|
Day's Payable |
41.22 |
45.35 |
|
Day’s Inventories |
21.74 |
32.15 |
|
Day’s Receivables |
75.75 |
54.49 |
Fixed Assets Turnover
was increased from
23.54 times to
29.11 times, Total
Assets Turnover was
decreased from 1.97
times to 1.81
times, show the
company could use Fixed Assets
so efficiently, Return
on Assets was
increased from 12.87
to 14.69, Return
on Equity was
increased from 20.74
to 25.31, capacity
to use Assets to make
profit was good.
Day's Payable was
decreased from 46 days to
42 days, and
Day’s Inventories was
decreased from 33
days to 22
days, while Day’s
Receivables was increased
from 55 days
to 76 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 |
|
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. |
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 |
|
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%)