MIRA
INFORM REPORT
|
Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
BIG C SUPERCENTER PUBLIC CO., LTD. |
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Registered Office : |
6th Floor,
Big |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1975 |
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Com. Reg. No.: |
0107536000633 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in a
retail business as a hypermarket
store |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
BIG C SUPERCENTER PUBLIC CO., LTD.
SUMMARY
BUSINESS ADDRESS : 6th FLOOR,
BIG C
PATHUMWAN,
TELEPHONE : [66] 2655-0666
FAX : [66] 2655-5801-2
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1975
REGISTRATION NO. : 0107536000633 [Former : BOR. MOR.
JOR. 137]
CAPITAL
REGISTERED : BHT.
8,250,000,000
CAPITAL
PAID-UP : BHT.
8,013,865,740
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
YVES BERNARD BRAIBANT,
FRENCH
CHIEF EXECUTIVE
OFFICER AND PRESIDENT
NO. OF
STAFF : 14,144
LINES OF
BUSINESS : RETAIL BUSINESS
OF SUPERCENTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT STANDARD : MANAGEMENT WITH
AVERAGE PERFORMANCE
HISTORY
The subject was
established on January
30, 1975 as
a private limited
company under the
registered name “S.K. Garment
Co., Ltd.” On January
3, 1992, it
was listed on
the Stock Exchange
of Thailand. On
July 2, 1993,
its status was
converted to a
public limited company.
Finally, on June
3, 1996, its
name was changed
to the present
name.
The subject really
started entering the
retail business in
1994. In 1999,
Geant International B.V.,
a company of
French retail giant
“Casino” group of
companies and Saowanee
Holdings Co., Ltd. became
the joint partner
and administrator of Big
C. The subject currently employs 14,144
staff.
The subject’s registered address
was initially located
at 7th Floor,
Univest Tower, 89/36
Rajdamri Rd., Lumpini,
Pathumwan, Bangkok 10330.
The current registered
address is 6th Floor, Big
C Rajdamri Bldg.,
Rajdamri Rd., Lumpini,
pathumthani, Bangkok 10330,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Tos Chirathivat |
: [+] |
Thai |
43 |
|
Mr. Suthichart Chirathivat |
: [+] |
Thai |
62 |
|
Mr. John Sien
Su Lin |
|
American |
44 |
|
Mr. Nontaphon Nimsomboon |
|
Thai |
63 |
|
Dr. Rongphol Chareonphandhu |
|
Thai |
60 |
|
Mr. Yves Bernard
Braibant |
: [x] |
French |
49 |
|
Mr. Viet Hung Do |
: [+] |
French |
51 |
|
Gen. Winai Patthiyakul |
|
Thai |
59 |
|
Mr. Xavier Michel Marie
Jacques |
: [x] |
French |
51 |
|
Mr. Therry Bourgerron |
: [x] |
French |
54 |
|
Mr. Jean Michel Duhammel |
|
French |
54 |
|
Mr. Jaques Dominique Ehrmann |
: [x] |
French |
47 |
|
Mr. Jean Baptiste Emin |
|
French |
41 |
AUTHORIZED PERSON
One of the
above directors [x]
and of the
directors [+] jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Yves
Bernard Braibant is
the Chief executive
Officer and President.
He is French
nationality with the
age of 49
years old.
Education :
Experience : Chief Execution
Officer,
Mr. Alan
S. Nementzik is
the Executive Vice
President, Store Operation.
He is French
nationality.
Mr. Thomas
M. Nielsen is the
Senior Vice President,
Human Resources.
He is French
nationality.
Mrs. Rumpa
Kumhomreun is the
Chief Financial Officer
and Vice President,
Accounting and Finance.
Ms. Jariya
Chirathivat is the
Vice President, Marketing
and Communication.
She is Thai
nationality.
Ms. Pravet
Prungteangkit is the
Vice President, Management
Information System.
She is Thai
nationality.
Mrs. Rattan
Anutakaroon is the
Vice President, General
Merchandise.
She is Thai
nationality.
Ms. Wanvimol Siriwatvejakul is
the Vice President,
Business Development.
She is Thai
nationality.
Mr. Emmanuelle
Kurone is the
Vice President, Dry
Food and Private Label
Merchandise.
He is French
nationality.
Mr. Michelle
Duigo is the
Vice President, Logistic.
He is French
nationality.
Mr. Franc
Dafuan is the
Vice President, Fresh
Food.
He is French
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
a retail business as a
hypermarket store under the name “Big C
Supercenter” which
provides consumers a variety of products at reasonable prices under
the company’s concept “Big Savings
Low Prices-Everyday”. Its
products are divided into
four categories such as fresh
food, dry food
and other products,
hard line and
home line. Also,
it offers “Town
Center” space area rental
service which includes
retails shops and
food courts.
The subject also has its in house brand “Leader Price” products. The
subject currently has more than 100,000 products which is 15% to 20% cheaper
than general brands. The subject started
selling Leader Price products in
2000, and demand has steady grown.
PURCHASE
100% of its
products is purchased
from 3,500 local
suppliers.
MAJOR SUPPLIERS
S. K. Garment
[1995] Co., Ltd.
Products: Manufacturer of garments
Kimberly-Clark Co., Ltd.
Products : Manufacturer of consumer
products
SALES [LOCAL]
100% of its products is sold locally to retailers and end-users.
INCOME [Million
baht]
2006 % 2005 %
Supercenter 58,033 96 53,194 96.2
Town Center
Total 60,460
100.0 55,281
100.0
SUBSIDIARY AND
AFFILIATED COMPANY
- Central Superstore
Co., Ltd.
Business Type: Leasing property
Investment of
100%
- Udorn
Big C Co., Ltd.
Business Type: Retailling
Investment of 65%
- Pitsanulok Big C
Co., Ltd.
Business Type: Retailling
Investment of 92%
- Fairy
Big C Co., Ltd.
Business Type: Retailling
Investment of 95%
-
Business Type: Retailling
Investment of
100%
- Theparak Big C Co., Ltd.
Business Type: Leasing real
property
Investment of
100%
- Chiengrai
Big C Co., Ltd.
Business Type: Retailling
Investment of 90%
- Central
Pattaya Co., Ltd.
Business Type: Leasing real
property
Investment of 80%
- Rama 2
Big C Co., Ltd.
Business Type: Leasing
real property
Investment of
100%
- Big C Distribution
Co., Ltd.
Business Type: Warehouse
Investment of
100%
- Inthanon Land
Co., Ltd.
Business Type: Leasing real
property
Investment of
100%
- Chiengmai Big C
[2001] Co., Ltd.
Business Type: Retailling
Investment of
100%
- Flexpay Co., Ltd.
Business Type: Credit card
and hire-purchase services
Investment of 51%
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
Purchasing term by
cash or on
the credits term
of 30-60-90 days.
Selling terms are
by cash.
BANKING
Kasikornbank Public Co.,
Ltd. : Sathupradit
Branch
Siam Commercial Bank
Public Co., Ltd. :
Sathupradit Branch
BRANCHES
The subject currently has
49 branches all
over the country
comprising 25 Bangkok and
metropolitan branches and
24 provincial branches
as followings:
1. Donmuang Branch [Grand
Opening June 28, 2001]
Address : 1 Soi
Phaholyothin 50,
Tel :
[66] 2973-7222-36
Fax : [66]
2973-7245
Branch Manager : Mr.
Theerayuth Lertwatanapradit
2. Daowkanong Branch [Grand Opening
September 6, 2002]
Address :
Tel :
[66] 2876-2777-91
Fax : [66]
2876-2798
Branch Manager :Mr.
Anusorn Pueng-ngerng
3. Tivanont Branch [Grand Opening
November 1, 2002]
Address : 9/9 Moo 5,
Taladkwan, Muang, Nonthaburi
11000
Tel :
[66] 2965-6300-14
Fax : [66]
2968-6323
Branch Manager : Mr.
Amnarj Penpong
4. Bangna Branch [Grand
Opening February 8,
2002]
Address :
Tel :
[66] 2744-3260-73
Fax : [66]
2744-3279
Branch Manager : Mr.
Piya Intecha
5. Bangplee Branch [Grand
Opening January 1,
1996]
Address : 89 Moo 9,
Samutprakarn
10540
Tel :
[66] 2750-7600
Fax : [66]
2750-6630
Branch Manager : Mr.
Anant Tantipanyakhun
6. Rama 2 Branch [Grand
Opening September 19, 1997]
Address : 56 Moo 6, Samaedam,
Bangkhunthien,
Tel :
[66] 2895-7600
Fax : [66]
2895-7675
Branch Manager :Mr.
Pinij Pitakpornsuk
7. Chaengwatana Branch [Grand
Opening January 5,
1994]
Address : 96 Moo 1,
Tel :
[66] 2573-5800
Fax : [66]
2573-8528
Branch Manager : Mrs. Vanida
Voravisuthisarnkul
8. Fashion
Address : 5/8 Moo 7,
Tel :
[66] 2947-6444-58
Fax : [66]
2947-6463
Branch Manager : Mrs. Chanpen
Damrongrat
9. Rangsit Branch [Grand
Opening May 10,
1994]
Address : 161 Moo 2, T.
Prachatipat, Thanyaburi, Pathumthani 12130
Tel :
[66] 2958-0100-59
Fax : [66]
2958-0198
Branch Manager :Mr.
Thanaphol Treevaree
10. Rattanathibet Branch [Grand
Opening April 10,
1997]
Address : 6 Moo 6, T. Saothonghin, Bangyai,
Nonthaburi 11140
Tel :
[66] 2921-2800-16
Fax : [66]
2921-2646-9
Branch Manager : Mrs. Manthana
Vilamat
11. Rajdamri Branch [Grand
Opening December 10,
1995]
Address :
Tel :
[66] 2655-0777-9
Fax : [66]
2655-5804
Branch Manager : Mr.
Chalard Pornsinsirilak
12. Ladprao Branch [Grand
Opening June 28,
2002]
Address :
Tel :
[66] 2934-9888
Fax : [66] 2934-9899
Branch Manager : Mr.
Chakkrawal Kittipornnont
13. Rajburana Branch [Grand
Opening November 10,
1994]
Address : 19 Moo 9,
Tel :
[66] 2873-1200
Fax : [66]
2873-1232
Branch Manager : Mr.
Chairat Theeravejchakarn
14. Wongsawang Branch [Grand
Opening April 26,
1993]
Address :
Tel :
[66] 2587-2055
Fax : [66] 2587-2277
Branch Manager: Mr.
Jaruek Chewcharoen
15. Huamark Branch [Grand
Opening October 21,
2000]
Address :
Tel :
[66] 2718-6000
Fax : [66]
2718-7417
Branch Manager : Mrs. Songsiri
Techaboon
16. Suksawad Branch [Grand Opening
November 9, 2001]
Address : 94 Moo 18,
T. Bangpueng, Phrapradaeng,
Samutprakarn 10130
Tel :
[66] 2464-4224-36
Fax : [66]
2464-4240
Branch Manager : Mr.
Panya Visetrat
17. Ubolrajchathani Branch [Grand
Opening April 26,
2001]
Address : 92 Soi Thamvithee
4,
Ubolrajchathani 34000
Tel :
[66] 45
284-500-14
Fax : [66] 45 284-516
Branch Manager : Mr. Niwat
Insek
18. Udonthani Branch [Grand
Opening October 15,
1996]
Address : 415 Moo 3, T.
Makkaeng, Muang, Udonthani
41000
Tel :
[66] 42
323-600-14
Fax : [66] 42 323-618
Branch Manager : Mr.
Thaveeporn Puengkaew
19. Samutprakarn Branch [Grand
Opening November 2,
2000]
Address :
Tel :
[66] 2388-2444-58
Fax : [66]
2388-2461
Branch Manager : Mr. Visutr
Sawaddi
20. Rayong Branch [Grand
Opening July 15,
1997]
Address :
Tel :
[66] 38
875-400-14
Fax : [66] 38 875-355
Branch Manger : Mr. Rojthavee
Sangobkay
21. Lampang Branch [Grand
Opening January 31,
2003]
Address :
Tel :
[66] 54
352-666-80
Fax : [66] 54 352-655
Branch Manager
: Mrs. Prathin Ratsilapin
22. Lopburi Branch [Grand
Opening November 20,
1997]
Address : 2 Moo
1, T. Thasala,
Muang, Lopburi 15000
Tel :
[66] 36
615-815-29
Fax : [66] 36 615-811
Branch Manager : Mr. Anek
Tosamitr
23. Chiangrai Branch [Grand
Opening September 24,
1997]
Address : 184 Moo 25, T.
Robmuang, Muang, Chiangrai
57000
Tel :
[66] 53
746-500-14
Fax : [66] 53 746-549
Branch Manager : Mr. Pisut
Jureekes
24. Chiangmai Branch [Grand
Opening July 6,
2001]
Address : 208 Moo
3, T. Thasara,
Muang, CHiangmai 50000
Tel :
[66] 53
262-300-33
Fax : [66] 53 262-380
Branch Manager : -
25. Nakornrajchasima Branch [Grand
Opening December 19,
1996]
Address : 118 Mitraparb –
Nakornrajchasima 30000
Tel :
[66] 44
295-050-62
Fax : [66] 44 295-030
Branch Manager : Mrs. Yupayao
Lavilas
26. Pisanulok Branch [Grand
Opening April 3,
1997]
Address :
Tel :
[66] 55
221-200-14
Fax : [66] 55
221-220
Branch Manager : Mr.
Direk Rompoeyen
27. Pattaya Sai 2
Branch [Grand Opening
June 17, 1995]
Address : 78/12 Moo 9, Pattaya
Sai 2 Rd., T. Nongprue, Banglamuang,
Cholburi
20260
Tel :
[66] 38
361-361
Fax : [66] 38 361-432
Branch Manager : Mr. Paul
Rocheal
28. Pattaya-Tai Branch [Grand
Opening March 28,
2003]
Address : 565/41 Moo 10,
T. Nongprue, Banglamung, Cholburi
20115
Tel :
[66] 38
374-800-14
Fax : [66] 38 374-816
Branch Manager : Mr.
Tevin Chaiyo
29. Nakornpathom Branch [Grand
Opening March 1,
1996]
Address :
Tel :
[66] 34
213-070-84
Fax : [66] 34 213-085
Branch Manager : Mr.
Suvin Somsri
30. Khonkaen Branch [Grand
Opening December 11,
1996]
Address : 290/1 Moo 17,
T. Naimuang, Muang,
Khonkaen 40000
Tel :
[66] 43
325-500-14
Fax : [66] 43 325-499
Branch Manager : Mrs.
Varaporn Kongnawong
31. Phuket Branch [Grand
Opening N/A]
Address : 75 Moo 5,
T. Vichit, Muang,
Phuket 83000
Tel :
[66] 76
249-444-58
Fax : [66] 76 249-460
Branch Manager : Mr.
Tomas Dealvassor
32. Petchburi Branch [Grand
Opening January 26,
1998]
Address : 130 Moo 1,
T. Tonmamung Muang,
Petchburi 76000
Tel :
[66] 32
454-555-69
Fax : [66] 32 454-499
Branch Manager : Mrs. Saovalak
Ithisophonpisal
33. Surajthani Branch [Grand
Opening March 26,
1997]
Address : 130 Moo 1,
Tel :
[66] 77
224-400-19
Fax : [66] 77 224-399
Branch Manager :
Mrs. Kobkaew Utama
34. Hadyai Branch [Grand
Opening October 19,
2000]
Address : 111/19 Moo 4, T.
Klonghae, Hadyai, Songkla
90110
Tel :
[66] 74
424-755-69
Fax : [66] 74 427-685.
Branch Manager : Mr.
Jirasak Sachote
& Others.
EMPLOYMENT
The subject employs
14,144 staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in a
commercial/residential area.
COMMENT
Big C is one of the leading retail store under the
This year the modern retail trade industry would grow by 10% compared
with 14% growth last year. Hypermarkets
are expected to generate the highest growth followed by special store,
supermarket, department store and convenience store.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 2,000,000 divided
into 2,000 shares
of Bht. 1,000
each.
The capital was
increased later as
followings:
Bht. 1,597,458,940 in
1995
Bht. 2,700,000,000 in
1996
Bht. 8,250,000,000 in
2000
The latest registered
capital was increased
to Bht. 8,250,000,000
divided into 825,000,000
shares of Bht.
10 each with
the capital paid-up
of 8,013,865,740.
MAIN SHAREHOLDERS
: [as of
April 27,
2007] at
Bht. 8,013,865,740 of
capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Geant International B.V. |
287,820,000 |
35.91 |
|
Saowanee Holding Co., Ltd. |
218,280,000 |
27.24 |
|
Thai NVDR Co., Ltd.
|
42,394,431 |
5.29 |
|
State Street Ban
and Trust Company |
34,059,000 |
4.25 |
|
The Bank of |
26,202,402 |
3.27 |
|
Mrs. Arunee Chan |
12,255,431 |
1.53 |
|
American Internatioinal Assurance
Co., Ltd. |
10,097,540 |
1.26 |
|
Mr. Sutthilak Chirathiwat |
7,330,358 |
0.91 |
|
RBC Dexia Investor
Services Bank S.A. |
6,226,280 |
0.78 |
|
Mr. Sutthichai Chirathiwat |
5,974,400 |
0.75 |
|
Mrs. Suchitra Mongkolkiti |
5,684,400 |
0.71 |
|
Mr. Tos Chirathiwat |
5,182,700 |
0.65 |
|
Others |
139,879,632 |
17.45 |
Total Shareholders
930
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Mrs. Saifon Inkaew No.
4434
BALANCE SHEET
[BAHT]
The
latest financial figures
published for December
31, 2006 &
2005 were:
ASSETS
|
Current Assets |
2006 |
2005 |
|
|
|
|
|
Cash & Cash
Equivalents |
1,158,775,550 |
2,502,601,072 |
|
Trade Account Receivable |
111,972,509 |
54,737,228 |
|
Receivable- Related Parties |
440,931,108 |
562,007,301 |
|
Inventories |
4,629,138,876 |
4,291,258,358 |
|
Other Current Assets: Receivable & Services |
515,858,994 |
373,105,326 |
|
Others |
96,440,513 |
70,282,992 |
|
|
|
|
|
Total Current
Assets |
6,953,117,550 |
7,853,992,277 |
|
Loans to Subsidiary
Companies |
258,366,466 |
386,067,542 |
|
Investments in Subsidiaries under Equity Method |
4,887,146,576 |
4,410,125,391 |
|
Fixed Assets |
18,042,633,387 |
16,002,050,696 |
|
Other Assets: VAT Refundable |
340,025,085 |
333,375,992 |
|
Others |
377,497,324 |
188,320,873 |
|
Total Assets
|
30,858,786,388 |
29,173,932,771 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2006 |
2005 |
|
|
|
|
|
Loan from Financial Institutions |
- |
750,000,000 |
|
Trade Account Payable |
10,042,411,702 |
9,268,092,383 |
|
Payable Related Parties |
223,979,468 |
173,405,473 |
|
Current Portion of Long
Term Loan from Related Company |
745,500,000 |
- |
|
Loans from Subsidiary
Companies |
1,588,687,904 |
1,367,827,394 |
|
Other Current Liabilities: Accrued Income |
296,802,011 |
221,447,973 |
|
Other Payables |
980,930,567 |
778,842,298 |
|
Accrued Expenses |
918,067,850 |
884,193,609 |
|
Others |
796,646,007 |
667,508,686 |
|
|
|
|
|
Total Current
Liabilities |
15,593,025,509 |
14,111,317,816 |
|
Unearned Leasehold Rights |
34,515,462 |
36,617,341 |
|
Long-term Loan from
Related Company |
- |
745,500,000 |
|
Other Liabilities: Guarantee Construction |
81,423,007 |
50,771,417 |
|
Deposits for
Rental |
604,719,621 |
511,902,563 |
|
Excess Loss over
Cost of Investments
in Subsidiary Companies |
6,995,890 |
- |
|
Total Liabilities |
16,320,679,489 |
15,456,109,137 |
|
|
|
|
|
Shareholders'
Equity |
|
|
|
Share capital : Baht 10
par value authorized, &
issued share capital at 825,000,000 shares |
8,250,000,000 |
8,250,000,000 |
|
|
|
|
|
Capital Paid |
8,013,865,740 |
8,013,865,740 |
|
Premium on Share
Capital |
2,245,689,584 |
2,245,689,584 |
|
Unrealized Loss on
Decline in Value
of Investments |
[489,750] |
[489,750] |
|
Premium on Investment |
[65,753,698] |
[12,017,372] |
|
Retained Earning [Deficit] Appropriated -
Statutory Reserve |
400,550,000 |
294,300,000 |
|
Unappropriated [Deficit] |
3,944,245,023 |
3,176,475,432 |
|
Total Retained Earning
[Deficit] |
4,344,795,023 |
3,470,775,432 |
|
Total
Shareholders' Equity |
14,538,106,899 |
13,717,823,634 |
|
Total
Liabilities & Shareholders' Equity |
30,858,786,388 |
29,173,932,771 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2006 |
2005 |
|
|
|
|
|
Sales |
55,919,631,749 |
50,241,700,882 |
|
Share of Profit
from Investments in
Subsidiary Companies |
400,767,620 |
432,818,807 |
|
Rental & Service
Income |
2,255,382,259 |
1,856,795,341 |
|
Other Income |
5,005,829,987 |
4,024,548,528 |
|
Total Revenues
|
63,581,611,615 |
56,555,863,558 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
50,855,196,182 |
45,675,147,195 |
|
Selling & Administrative Expenses |
9,657,613,882 |
8,243,320,768 |
|
Total Expenses |
60,512,810,064 |
53,918,467,963 |
|
|
|
|
|
Profit before Interest
Expenses & Income Tax |
3,068,801,551 |
2,637,395,595 |
|
Interest Expenses |
[145,317,280] |
[104,546,210] |
|
Income Tax |
[799,859,481] |
[650,075,320] |
|
|
|
|
|
Net Profit / [Loss] |
2,123,624,790 |
1,882,774,065 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2006 |
2005 |
|
Net Sales |
11.30 |
|
|
Operating Profit |
4.54 |
|
|
Net Profit |
12.79 |
|
|
Fixed Assets |
12.75 |
|
|
Total Assets |
5.78 |
|
|
Profitability |
|
|
|
Cost of Good
Sold |
90.94 |
90.91 |
|
Operating Profit Margin |
5.49 |
5.25 |
|
S & A
Expenses |
17.27 |
16.41 |
|
Interest Paid |
0.26 |
0.21 |
|
Other Revenues |
13.70 |
12.57 |
|
Net Profit Margin |
3.80 |
3.75 |
|
Earning Per Shares |
2.65 |
2.35 |
|
No. of Shares |
801,386,574 |
801,386,574 |
Net Sales was
increased by 11.30%,
Operating Profit was
increased by 4.54%,
Net Profit was
increased by 12.79%,
Fixed Assets was
increased by 12.75%,
Total Assets was
increased by 5.78%.
Compare each cost
with sales, Cost of
Good Sold was
increased from 90.91%
to 90.94%, Operating
Profit Margin was
increased from 5.25%
to 5.49%, S
& A Expenses
was increased from
16.41% to 17.27%,
Interest Paid was increased
from 0.21% to
0.26%, Other Revenues
was increased from
12.57% to 13.70%,
Net Profit Margin
was increased from
3.75% to 3.80%.
Earning Per Shares
was increased from
2.35 baht per
share to 2.65
baht per share.
Liquidity
|
Liquidity |
2006 |
2005 |
|
Current Ratio |
0.45 |
0.56 |
|
Quick-Assets Ratio |
0.11 |
0.22 |
Current Ratio was
decreased from 0.56
to 0.45, show Current
Assets can not
cover Current Liabilities,
Liquidity Ratio of
the company was
not good, Quick-Assets
Ratio was decreased
from 0.22 to
0.11, capacity to
pay Short Term
Loan was not
good too, because
Current Assets without
Inventory can not
cover Current Liabilities.
Leverage
|
Leverage |
2006 |
2005 |
|
D/E Ratio |
1.12 |
1.13 |
|
Times Interest Earned |
21.12 |
25.23 |
D/E Ratio was
decreased from 1.13
to 1.12, show
the company had
fund from Loan
more than fund
from Equity, investment
risked of the
company is medium,
Times Interest Earned
was decreased from
25.23 to 21.12,
capacity to pay
interest paid was
good.
Efficiency
|
Efficiency |
2006 |
2005 |
|
Fixed Assets Turnover |
3.10 |
3.14 |
|
Total Assets Turnover |
1.81 |
1.72 |
|
Return on Assets |
6.88 |
6.45 |
|
Return on Equity |
14.61 |
13.73 |
|
Day's Payable |
64.65 |
66.41 |
|
Day’s Inventories |
29.80 |
30.75 |
|
Day’s Receivables |
0.72 |
0.39 |
Fixed Assets Turnover
was decreased from
3.14 times to
3.10 times, Total
Assets Turnover was
increased from 1.72
times to 1.81
times, show the company could
use Assets so
efficiently, Return on
Assets was increased
from 6.45 to
6.88, Return on
Equity was increased
from 13.73 to
14.61, capacity to
use Assets to
make profit was
good.
Day's Payable was
decreased from 67
days to 65 days, and
Day’s Inventories was
decreased from 31
days to 30 days, while
Day’s Receivables was
stable at 1
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%)