MIRA
INFORM REPORT
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Report Date : |
03.09.2007 |
IDENTIFICATION DETAILS
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Name : |
MILI STAR CO., LTD. |
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Registered Office : |
29th Floor,
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
0105533125751 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in importing
and distributing various
kinds of diamonds,
gemstone and jewelry
products, as well
as exporting of
diamonds and jewelry
products. |
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
MILI STAR CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 29th FLOOR,
TELEPHONE : [66] 2630-0138-9
FAX :
[66] 2630-0137
E-MAIL
ADDRESS : milistar@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1990
REGISTRATION
NO. : 0105533125751
CAPITAL REGISTERED : BHT. 13,000,000
CAPITAL PAID-UP : BHT.
13,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. DESAI MAHGUDRA
KUMAR CHHAGAN
BHBI, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 10
LINES
OF BUSINESS : DIAMONDS AND
JEWELRY PRODUCTS
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on October 19,
1990 as a
private limited company under
the name style
MILI STAR CO.,
LTD., by Thai
and Indian groups, with
the objective to
engage in diamonds
and jewelry trading
business. It currently
employs approximately 10
staff.
The
subject’s registered address
is 919/366 Jewelry
Trade Center Bldg.,
Silom Rd., Silom,
Bangrak, Bangkok 10500,
and this is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
Mr. Desai Mahgudra Kumar Chhagan Bhbi
AUTHORIZED PERSON
The above director
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Desai Mahgudra Kumar
Chhagan Bhbi is
the Managing Director.
He is Indian
nationality with the
age of 28
years old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing various
kinds of diamonds,
gemstone and jewelry
products, as well
as exporting of
diamonds and jewelry
products.
PURCHASE
The products are
purchased from suppliers
both in domestic
and overseas, mainly
India, Hong Kong
and Australia.
MAJOR SUPPLIER
Laxmi
Diamond Pvt. Ltd. :
SALES
The products are
sold to customers
both local and
overseas in Europe
and U.S.A.
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.
Exports are against
L/C or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately
10 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
COMMENT
The
subject’s operating performance
is considered satisfactory
with a drastic increase
in its sale
revenue in 2005
comparing to the
previous year. In
general, the subject’s remains
moderate.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht.
100 each.
The
capital was increased
later as following:
Bht. 4,000,000
on September 20,
1993
Bht. 6,000,000
on March 27,
1996
Bht. 8,000,000
on January 11,
2001
Bht. 13,000,000
on September 1,
2004
The
latest registered capital
was increased to Bht. 13,000,000 divided
into 130,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
February 15,
2007]
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NAME |
HOLDING |
% |
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Mr. Desai Mahgudra Kumar Chhagan Bhbi Nationality: Indian Address : |
21,500 |
16.54 |
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Mr. Shah Metesh Kumar
Prawinchandra Nationality: Indian Address : |
21,100 |
16.23 |
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Mr. Umesh Razikbye Lakani Nationality: Indian Address : |
21,100 |
16.23 |
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Mr. Taweesak Bintorleb Nationality: Thai Address : 13/1
Moo 9, Monthong,
Bangnampriew, Chachoengsao |
16,575 |
12.75 |
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Mrs. Suree Tuanjeen Nationality: Thai Address : 33
Moo 2, Klongsan,
Bangbor, Samutprakarn |
16,575 |
12.75 |
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Mrs. Kamaria Masyoh Nationality: Thai Address : 61/5
Singtothong, Bangnampriew,
Chachoengsao |
16,575 |
12.75 |
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Ms. Zorba Boonmalert Nationality: Thai Address : 45
Yothaka, Bangnampriew, Chachoengsao |
16,575 |
12.75 |
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Mr. Thanawat Ek-aranpong No.
5465
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2006 &
2005 were:
ASSETS
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Current Assets |
2006 |
2005 |
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Cash in hand
& at Bank
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930,264.63 |
1,260,592.53 |
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Trade Accts. Receivable |
36,454,335.37 |
68,914,236.49 |
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Short Term Loan
to Related Person |
2,000,000.00 |
- |
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Inventories |
65,710,177.05 |
57,300,017.38 |
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Other Current Assets
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274,652.39 |
543,970.75 |
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Total Current Assets
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105,369,429.44 |
128,018,817.15 |
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Fixed Assets |
1,300,178.57 |
1,846,352.20 |
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Other Assets |
405,000.00 |
405,000.00 |
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Total Assets |
107,074,608.01 |
130,270,169.35 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
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Current
Liabilities |
2006 |
2005 |
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Trade Accts. Payable |
84,442,054.32 |
113,588,651.26 |
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Accrued Expenses |
120,345.93 |
346,195.69 |
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Accrued Income Tax |
561,697.59 |
564,258.16 |
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Other Current Liabilities |
83,086.95 |
426,372.66 |
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Total Current Liabilities |
85,207,184.79 |
114,925,477.77 |
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Total Liabilities |
85,207,184.79 |
114,925,477.77 |
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Shareholders' Equity |
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Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 130,000 shares |
13,000,000.00 |
13,000,000.00 |
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Capital Paid |
13,000,000.00 |
13,000,000.00 |
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Retained Earning -
Unappropriated |
8,867,423.22 |
2,344,691.58 |
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Total Shareholders' Equity |
21,867,423.22 |
15,344,691.58 |
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Total Liabilities & Shareholders' Equity |
107,074,608.01 |
130,270,169.35 |
PROFIT &
LOSS ACCOUNT
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Revenue |
2006 |
2005 |
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Sales |
180,209,913.43 |
221,074,581.43 |
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Gain on Exchange
Rate |
10,355,843.35 |
- |
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Other Income |
11,666.67 |
- |
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Total Revenues |
190,577,43.45 |
221,074,581.43 |
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Expenses |
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Cost of Goods
Sold |
174,882,362.04 |
211,839,174.45 |
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Selling & Administrative Expenses |
8,082,831.41 |
13,716,735.21 |
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Total Expenses |
182,965,193.45 |
225,555,909.66 |
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Profit / [Loss] Before Income
Tax |
7,612,230.00 |
[4,481,328.23] |
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Income Tax |
[1,089,498.36] |
- |
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Net Profit / [Loss] |
6,522,731.64 |
[4,481,328.23] |
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%)