MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ASSET IMPORT EXPORT CO., LTD. |
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Registered Office : |
25/17
Moo 8, Ladprao
Road, Ladprao, Bangkok 10320 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2006 |
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Com. Reg. No.: |
0105549020245 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in importing
and distributing various
kinds of foods
and fresh fruit
such as apple,
pear, grape, kiwi,
cherry, strawberry, raspberry, blueberry and etc. |
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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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name
ASSET IMPORT EXPORT CO., LTD.
SUMMARY
BUSINESS ADDRESS : 25/17 MOO 8, LADPRAO
ROAD, LADPRAO, BANGKOK
10320, THAILAND
TELEPHONE : [66] 2542-4431-2
FAX : [66] 2932-8386
E-MAIL ADDRESS : lek_shipping@yahoo.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2006
REGISTRATION NO.
: 0105549020245
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. DANAI SAENGPHO, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 4
LINES OF
BUSINESS : FOODS AND FRESH FRUITS
IMPORTER AND
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 established
on February 14,
2006 as a
private limited company
under the name
style ASSET IMPORT
EXPORT CO., LTD.,
by Thai groups,
with the business
objective to import
and distribute various
kinds of foods
and fresh fruits.
It currently employs
4 staff.
The
subject’s registered address
is 25/17 Moo
8, Ladprao Rd.,
Ladprao, Bangkok 10320,
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. Danai Saengpho |
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Thai |
30 |
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Ms. Pornsuang
Jirapattanakulchai |
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Thai |
31 |
AUTHORIZED PERSON
One of the above directors
can sign on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Danai Saengpho
is the Managing Director.
He is Thai nationality with
the age of
30 years old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing various
kinds of foods
and fresh fruit
such as apple,
pear, grape, kiwi,
cherry, strawberry, raspberry,
blueberry and etc.
PURCHASE
90% of the products is
imported from Republic
of China, New
Zealand, Malaysia, Australia,
Korea & Singapore,
and the remaining
10% is purchased from local
supplier.
SALES
100% is sold
locally by wholesale
to dealers, manufacturers and end-users, such
as hotel, restaurant
and retail stores.
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
Kasikornbank Public
Co., Ltd.
[International Trade Centre, UBC
II Bldg., 591
Sukhumvit 33 Rd.,
Klongtoey, Bangkok]
EMPLOYMENT
The
subject employs 4
staff.
LOCATION DETAILS
The premise
is owned for
administrative office in
a 3 storey building of
1 row shop house at the
heading address. Premise
is located in commercial/residential
area.
COMMENT
The
subject’s first year
operation was moderate from local strong consumption
especially hotel, restaurant
as well as
retail sale at
supermarket. Imported fruits
are still in
strong demand from
food and bakery
industries and also
during the festive
season which Thai
consumers consume a
lot of imported fruits.
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, 2007]
|
NAME |
HOLDING |
% |
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Mr. Danai Saengpho Nationality: Thai Address : 25/17
Moo 8, Ladprao,
Bangkok |
7,000 |
70.00 |
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Ms.
Pornsuang Jirapattanakulchai Nationality: Thai Address : 25/16
Moo 8, Ladprao,
Bangkok |
2,500 |
25.00 |
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Mr. Monthon Saengpho Nationality: Thai Address : 25/17
Moo 8, Ladprao,
Bangkok |
100 |
1.00 |
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Ms.
Supaporn Saengpho Nationality: Thai Address : 25/17
Moo 8, Ladprao,
Bangkok |
100 |
1.00 |
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Ms. Supatra Saengpho Nationality: Thai Address : 25/17
Moo 8, Ladprao,
Bangkok |
100 |
1.00 |
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Mr. Sompong Saengpho Nationality: Thai Address : 25/17
Moo 8, Ladprao,
Bangkok |
100 |
1.00 |
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Ms.
Kanchana Sae-ung Nationality: Thai Address : 25/17
Moo 8, Ladprao,
Bangkok |
100 |
1.00 |
Total Shareholders
7
NAME OF AUDITOR &
CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Pojanart Chaemjui No. 5939
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2006 was:
ASSETS
|
Current Assets |
2006 |
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Cash in hand
& at Bank
|
29,142.92 |
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Short Term Loan
to Related Person |
1,380,000.00 |
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Other Current Assets
|
24,781.17 |
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Total Current
Assets |
1,433,924.06 |
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Fixed Assets |
12,461.25 |
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Total Assets |
1,446,385.31 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2006 |
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Other Current Liabilities |
67,744.30 |
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Total Current
Liabilities |
67,744.30 |
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Total Liabilities |
67,744.30 |
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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 |
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Capital Paid |
1,000,000.00 |
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Retained Earning -
Unappropriated |
378,641.01 |
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Total
Shareholders' Equity |
1,378,641.01 |
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Total
Liabilities & Shareholders' Equity |
1,446,385.31 |
PROFIT & LOSS ACCOUNT
|
Revenue |
Feb.
14, 2006- Dec.
31, 2006 |
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Sales |
10,767,682.88 |
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Services |
371,200.00 |
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Other Income |
921,746.71 |
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Gain [Loss] from
Exchange Rate |
107,529.81 |
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Total Revenues
|
12,168,159.40 |
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Expenses |
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Cost of Goods
Sold & Services |
11,215,961.77 |
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Selling & Administrative Expenses |
506,737.62 |
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Total Expenses |
11,722,699.39 |
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Profit / [Loss] Before Income
Tax |
445,460.01 |
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Income Tax |
[66,819.00] |
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Net Profit / [Loss] |
378,641.01 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Profitability |
2006 |
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Cost of Good
Sold |
100.69 |
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Operating Profit Margin |
4.00 |
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S & A
Expenses |
4.55 |
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Other Revenues |
9.24 |
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Net Profit Margin |
3.40 |
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Earning Per Shares |
37.86 |
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No. of Shares |
10,000 |
Compare each cost with sales, Cost of Good Sold was 100.69%, Operating Profit Margin was 4.00%, S & A Expenses was 4.55%, Other Revenues was 9.24%, Net Profit Margin was 3.40%.
Earning Per Shares
was 37.86 baht
per share.
Liquidity
|
Liquidity |
2006 |
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Current Ratio |
21.17 |
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Quick-Assets Ratio |
20.80 |
Current Ratio was
21.17, show Current
Assets can cover
Current Liabilities, Liquidity
Ratio of the
company was good,
Quick-Assets Ratio was
20.80, capacity to
pay Short Term
Loan was good
too, because Current
Assets without Inventory
can cover Current
Liabilities.
Leverage
|
Leverage |
2006 |
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D/E Ratio |
0.05 |
D/E Ratio was
0.05, show the
company had fund
from Equity more
than fund from
Loan, investment risked
of the company is low.
Efficiency
|
Efficiency |
2006 |
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Fixed Assets Turnover |
893.88 |
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Total Assets Turnover |
7.70 |
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Return on Assets |
26.18 |
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Return on Equity |
27.46 |
Fixed Assets Turnover
was 893.88 times,
Total Assets Turnover
was 7.70 times,
show the company
could use Assets
so efficiently, Return
on Assets was
26.18, Return on
Equity was 27.46,
capacity to use
Assets to make
profit was 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. |
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%)