MIRA
INFORM REPORT
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Report Date : |
20.09.2007 |
IDENTIFICATION DETAILS
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Name : |
RIGIDTEX SDN BHD |
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Registered Office : |
Lot 194, Lorong Pbr 21, Kawasan Perindustrian Bukit Rambai, Fasa 4b,
Mukim Tanjong Minyak, 75250 Melaka, Melaka |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
01/04/1991 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing of Rigid Polvinyl Chloride (Pvc) Film and Sheets |
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 : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
* Adopted
abbreviations : SC - Subject Company ( the company enquired
by you)
N/A - Not Applicable
EXECUTIVE SUMMARY
LOCAL NO : 214896-K
COMPANY NAME : RIGIDTEX SDN BHD
FORMER NAME : HEXAPOINT SDN BHD (23-10-1991)
INCORPORATION DATE : 01/04/1991
COMPANY STATUS : EXIST
LEGAL STATUS : PRIVATE LIMITED COMPANY
LISTED STATUS : NO
REGISTERED ADDRESS :
BUKIT
RAMBAI, FASA 4B, MUKIM TANJONG MINYAK, 75250
MELAKA,
BUSINESS ADDRESS :
BUKIT
RAMBAI, PERINGKAT 4B - MUKIM TANJONG MINYAK,
DAERAH
MELAKA TENGAH, 75250 MELAKA, MELAKA,
TEL NO : 06 - 3515778
FAX NO : 06 - 3517632
CONTACT PERSON : GAN KOK KHYE (EXECUTIVE DIRECTOR)
INDUSTRY CODE : 25209
PRINCIPAL ACTIVITY : MANUFACTURING OF RIGID POLVINYL
CHLORIDE (PVC)
FILM
AND SHEETS
AUTHORISED CAPITAL : MYR50,000,000.00 DIVIDED INTO
ORDINARY SHARE
50,000,000
OF MYR1.00 EACH.
ISSUED AND PAID UP CAPITAL : MYR45,000,000.00 DIVIDED INTO
ORDINARY SHARE
43,861,403
CASH AND 1,138,597 OTHERWISE OF MYR1.00
EACH.
SALES : MYR41,964,065 [2005]
NET WORTH : MYR21,368,577 [2005]
STAFF STRENGTH : 100
[2007]
BANKER (S) : UNITED OVERSEAS BANK (
LITIGATION : CLEAR
FINANCIAL CONDITION : POOR
PAYMENT : AVERAGE
MANAGEMENT CAPABILITY : AVERAGE
COMMERCIAL RISK : MODERATE
CURRENCY EXPOSURE : MODERATE
GENERAL REPUTATION : SATISFACTORY
INDUSTRY OUTLOOK : AVERAGE GROWTH
HISTORY / BACKGROUND
The SC is a private limited company and is allowed to have a minimum of
one and a maximum of forty-nine shareholders. As a private limited company, the
SC must have at least two directors. A private limited company is a separate
legal entity from its shareholders. As a separate legal entity, the SC is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the SC is insolvent. The SC is governed by the Companies Act,
1965 and the company must file its annual returns, together with its financial
statements with the Registrar of Companies.
The SC is principally engaged in the (as a / as an) manufacturing of
rigid polvinyl chloride (pvc) film and sheets.
The SC is not listed on
The SC is not qualified to be one of the Top Corporate Performers in the
The immediate and ultimate holding company of the SC is SUMITOMO
BAKELITE CO LTD, a company in incorporated in
The major shareholder(s) of the SC are shown as follows :
Name Address IC/PP/Loc
No: Shareholding
SUMITOMO BAKELITE CO LTD 5-8, HIGASHI-SHINAGAWA, 2-CHOME, 29,850,002
SHINAGAWAKU,
140
SCIENTEX INCORPORATED JALAN UTAS 15/7, 40000 SHAH ALAM, 7867 8,499,998
BHD
MITSUI & CO LTD 2-1,
OHTEMACHI 1 CHOME, CHIYODA KU 6,650,000
--------------------
45,000,000
===========
+ Also Director
DIRECTORS
DIRECTOR 1
Name of Subject : MR. LIM PENG JIN
Address : 559, JALAN TRANQUERAH, 75200 MELAKA,
IC / PP No. : A0809720
New IC No : 671009-04-5107
Date of Birth : 09/10/1967
Nationality : MALAYSIAN CHINESE
Date of Appointment : 20/04/2005
Qualification : B.SC (HONS) CHEMICAL ENGINEERING,
IN
1990.
Working Experience : ATTACHED TO YAMATO CHEMICAL INDUSTRY
CO LTD & SHIN-ETSU
CHEMICAL
CO LTD IN
MANUFACTURING
& DISTRIBUTING OF PVC & OTHER PLASTICS
PRODUCT
IN
DIRECTOR 2
Name of Subject : MR. GAN KOK KHYE
Address : 1,
IC / PP No. : 6830538
New IC No : 620816-04-5031
Date of Birth : 16/08/1962
Nationality : MALAYSIAN CHINESE
Date of Appointment : 06/10/2000
Remark : ALT DIR TO LIM PENG JIN
Qualification : B.A. (HONS) BUSINESS STUDIES, NORTH
Working Experience : JOINING WOVENTEX IN 1990, ATTACHED TO
GENERAL EDIBLE OIL S/B,
AS
A MARKETING EXECUTIVE, FROM 1985-1988. JOINED MALACCA
SECURITIES
S/B AS AN ADMINISTRATIVE MANAGER FROM 1988-1989.
FROM
1989-1990, HE WAS WITH QUATARI (M) S/B, A CO WHICH IS
PRINCIPALLY
INVOLVED IN
CHARGE
OF GENERAL ADMINISTRATION, ACCOUNTING & FINANCE.
DIRECTOR 3
Name of Subject : JUN OKAMOTO
Address : PACIFIC REGENT HOTEL APARTMENT, 2813
MENARA PAN GLOBAL, 50250
IC / PP No. : TG0755291
Nationality : JAPANESE
Date of Appointment : 23/10/2002
Remark : ALT DIR TO TAKU MORIMOTO ON 1/4/2004
DIRECTOR 4
Name of Subject : MAKOTO KAMIJO
Address : 3-6-3, ZENPUKUJI, SUGINAMI KU
IC / PP No. : TF3808228
Nationality : JAPANESE
DIRECTOR 5
Name of Subject : RYUZOM SUKEYASU
Address : 6-3, HAMAYAMA HIGASHI, KITA KU,
IC / PP No. : TF6367378
Nationality : JAPANESE
DIRECTOR 6
Name of Subject : TATSUO IMAMURA
Address : #7-3 HARMONY CONDO, UJONG PASIR,
75050 MELAKA, MELAKA,
IC / PP No. : TF9986164
Nationality : JAPANESE
Remark : ALT DIR TO TOSHIO SUGIYAMA ON
01/10/2006
DIRECTOR 7
Name of Subject : KAZUO YASUDA
Address : 41-9, SHAKUJI 8 CHOME, NERIMA KU,
177-004
IC / PP No. : TF8001503
Nationality : JAPANESE
MANAGEMENT
1) Name of Subject : GAN
KOK KHYE
Position : EXECUTIVE DIRECTOR
2) Name of Subject : TATSUO
IMAMURA
Position : GENERAL MANAGER
3) Name of Subject : TOSHIO
SUGIYAMA
Position : MANAGING DIRECTOR
4) Name of Subject : JIMMY
CHEONG
Position : ACCOUNTANT
5) Name of Subject : YUICHI
SHIBAKI
Position : SALES MANAGER
AUDITOR
Auditor : DELOITTE & TOUCHE
Auditors' Address : UPTOWN 1, 1 JALAN SS 21/58, DAMANSARA
UPTOWN, LEVEL 19,
47400
PETALING JAYA,
COMPANY SECRETARY
1) Company Secretary : MS.
LILLIAN LEW LAI LIAN
IC / PP No. : 4950053
New IC No. : 560327-10-6276
Address : C1-03-2, PANTAI HILLPARK, PHASE 1, JALAN PANTAI PERMAI,
59200
Date of Appointment : 06/10/2000
BANKING
Banking relations are maintained principally with :
1) Banker Name : UNITED
OVERSEAS BANK (
The SC enjoys normal banking routine with above mentioned banker(s).
The SC has bank charges with above mentioned banker(s).
ENCUMBRANCE (S)
ENCUMBRANCE 1
Date of Creation : 20 Jun 2001
Description of Charge : N/A
Amount Secured : O/D
Description of Property Affected : N/A
Name & Address of Chargee : UNITED OVERSEAS BANK (
Form 40 Dated
Registered and Numbered 3 In The
Register of Charges
LEGAL CHECK AGAINST
THE SC
* A check has been
conducted in our databank against the SC whether the subject has been
involved in any
litigation. Our databank consists of 99% of the wound up companies in
back dated since 1900.
No legal action was found in our databank.
No winding up petition was found in our data bank
PAYMENT RECORD
SOURCES OF RAW MATERIALS :
Local : YES Percentage : 20%
Overseas : YES Percentage : 80%
Import Countries :
The SC refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
OVERALL PAYMENT HABIT
Prompt [ ] Good [ ] Average [ X ]
Fair [ ] Poor [ ]
CLIENTELE
Local : YES Percentage : 50%
Domestic Markets :
Overseas : YES Percentage : 50%
Export Market :
Credit Term : 30 - 60 DAYS.
Payment Mode : CHEQUES, TELEGRAPHIC TRANSFER (TT).
Type of Customer : END USERS.
OPERATIONS
Products Manufactured : RIGID POLVINYL CHLORIDE (PVC) FILM
AND SHEETS
Competitor(s) : NYLEX (
TITAN
PETCHEM (M) SDN BHD
INNOVATIVE
PLASTICS LNP
LUSTER
INDUSTRIES SDN BHD
GREEN
POINT PRECISION (M) SDN BHD
Ownership of premises : OWNED
Total Number of Employees :
YEAR 2007 2006 2005 2004
GROUP N/A N/A N/A N/A
COMPANY 100 100 101 91
Branch : NO
RECENT DEVELOPMENT
We have checked with the Malaysian National News Agency's
(BERNAMA)database, but no latest development was noted in our
investigation
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
Telephone Number Provided By Client : 06 3515778
Current Telephone Number : 06-3515778
Match : YES
Address Provided By Client : LOT 194 KAWASAN PERINDUSTRIAN BUKIT
RAMBAI
75250
MELAKA
Current Address :
BUKIT
RAMBAI, PERINGKAT 4B - MUKIM TANJONG MINYAK,
DAERAH
MELAKA TENGAH, 75250 MELAKA, MELAKA,
Match : NO
Latest Financial Accounts : YES
Other Investigations
We conducted an interview with one of the SC's staff from Human Resource
Department. She provided some information on the SC.
Besides that, we conducted an interview with one of the SC's staff from
Sales Department. He revealed some relevant information on the SC.
FINANCIAL COMMENTS
Profitability :
Turnover : Increased [ 2003-2005 ]
Profit / ( Loss ) before tax : Decreased [ 2003-2005 ]
Return on Shareholder Funds : Unfavourable [ < 11.30%
> ]
Return on Net Assets : Unfavourable [ < 9.17%
> ]
The SC's turnover increased steadily as the demand for its products /
services increased due to the goodwill built up over the years. The SC could be
more efficient in controlling its operating costs and had managed to reduce its
losses during the year. The SC's unfavourable returns on shareholders' funds
indicate the management's inefficiency in utilising its assets to generate
returns.
Working Capital Control :
Stocks Ratio : Acceptable [ 63 Days ]
Debtors Ratio : Unfavourable [ 73 Days ]
Creditors Ratio : Favourable [ 28 Days ]
The SC kept adequate stocks to meet its normal business transactions
without incurring excessive storage costs. The high debtors' ratio could
indicate that the SC was weak in its credit control. However, the SC could also
giving longer credit periods to its customers in order to boost its sales or to
capture / retain its market share. The SC had a favourable creditors' ratio as
evidenced by its favourable collection days. The SC could be taking advantage
of the cash discounts and also wanting to maintain goodwill with its creditors.
Liquidity :
Liquid Ratio : Unfavourable [ 0.59 Times ]
Current Ratio : Unfavourable [ 0.99 Times ]
A low liquid ratio means that the SC may be facing working capital
deficiency. If the SC cannot obtain additional financing or injection of fresh
capital, it may face difficulties in meeting its short term obligations.
Solvency :
Interest Cover : Unfavourable [ < 4.33
Times > ]
Gearing Ratio : Favourable [ 0.07 Times ]
The SC incurred losses in the year. It did not generate sufficient
income to service its interest. If the
situation does not improve, the SC may be vulnerable to default in servicing
the interest. The SC was lowly geared thus it had a low financial risk. The SC
was mainly financed by its shareholders' funds and internally generated funds.
In times of economic slowdown / downturn, the SC being a lowly geared company,
will be able to compete better than those companies which are highly geared in
the same industry.
Overall Assessment :
The higher turnover had helped to reduce the SC's losses. Due to its
weak liquidity position, the SC will be faced with problems in meeting all its
short term obligations if no short term loan is obtained or additional capital
injected into the SC. The SC's interest cover was negative, indicating that it
did not generate sufficient income to service its interest. If its result does
not show impressive improvements or succeed obtaining short term financing or capital
injection, it may not be able to service its interest and repay the loans. The
SC as a lowly geared company, will be more secured compared to those highly
geared companies. It has the ability to meet all its long term obligations.
Overall financial condition of the SC: POOR
COMMENTS
Established in 1991, the SC is principally engaged in the manufacturing
of rigid polvinyl chloride (pvc) film and sheets. With its long presence in the
industry coupled with its vast experiences in the business, the SC should have
built up a certain goodwill with its client over times. Being backed by the
holding company allows the SC to enjoy the benefit of timely financial
assistance if the needs arise. With these favourable conditions, the SC has minimised
its risk in the industry compared to other players. With RM45 million in issued
and paid up capital, the SC has the potential of capturing a higher market
shares as it is competing aggressively in the market.
Our investigation revealed that the SC serves both local and overseas
clients. Penetrating into the overseas countries such as
During the financial year 2005, turnover of the SC grew by 6.8% to
RM41.96 million in 2005. The SC recorded a pre-tax losses of RM2.41 million for
the year. Due to the losses, the SC has generated an unfavourable return on
shareholders' funds which indicated that the management was inefficient in
utilising its shareholders' funds to generate returns. Moreover, the SC is in
weak liquidity position with its current liabilities well exceeding its current assets. Thus, it may face
difficulties in meeting its short term obligations if no short term loan is
obtained or additional capital injected. However the SC posted a low gearing
ratio. The SC should be able to maintain its business in the near term, given a
positive net worth standing at RM21.36 million.
Investigation revealed that the SC's supplies are sourced from both
local and overseas suppliers. Hence, the SC is subjected to currency
fluctuation risk and high operating costs. The industry remains robust with continuing
strong global demand for its products. The steady growth in the country's
economy will further enhance its business and there will be more business
opportunities available for the SC in the future. In this competitive industry,
the SC may face stiff competition from other players.
In view of the above we recommend credit be granted to the SC with
guarantee.
THE FINANCIAL
STATEMENTS WERE PREPARED
IN ACCORDANCE WITH
STANDARD.
PROFIT
AND LOSS ACCOUNT
For
The Year Ended 31-December-2005
RIGIDTEX
SDN BHD
2005 2004 2003
MYR MYR MYR
TURNOVER 41,964,065 39,289,959 31,595,886
=========== =========== ===========
PROFIT/(LOSS)
FROM OPERATIONS <2,413,665> <2,905,533> <3,814,163>
SHARE OF PROFITS/(LOSSES) OF
ASSOCIATED
------------------- ------------------- -------------------
PROFIT/(LOSS)
BEFORE TAXATION <2,413,665> <2,905,533> <3,814,163>
Taxation - - 9,448
------------------- ------------------- -------------------
PROFIT/(LOSS)
AFTER TAXATION <2,413,665> <2,905,533> <3,804,715>
------------------- ------------------- -------------------
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS <2,413,665> <2,905,533> <3,804,715>
------------------- ------------------- -------------------
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS <2,413,665> <2,905,533> <3,804,715>
RETAINED PROFIT/(ACCUMULATED LOSS)
BROUGHT
FORWARD
As
previously reported <21,217,758> <18,312,225> <14,507,510>
------------------- ------------------- -------------------
As
restated <21,217,758> <18,312,225> <14,507,510>
------------------- ------------------- -------------------
PROFIT
AVAILABLE FOR APPROPRIATIONS <23,631,423> <21,217,758> <18,312,225>
------------------- ------------------- -------------------
RETAINED PROFIT/(ACCUMULATED LOSS)
CARRIED
FORWARD <23,631,423> <21,217,758> <18,312,225>
=========== =========== ===========
RETAINED
BY: The Company <23,631,423> <21,217,758> <18,312,225>
------------------- ------------------- -------------------
<23,631,423> <21,217,758> <18,312,225>
=========== =========== ===========
INTEREST
EXPENSE (as per notes to P&L)
Bank
overdraft 17,463 13,718 21,014
Revolving
loans 63,248 23,931 213,345
BANKERS
ACCEPTANCES 215,799 161,623 -
LETTERS
OF CREDIT 156,664 121,433 -
------------------- ------------------- -------------------
453,174 320,705 234,359
=========== =========== ===========
BALANCE SHEET
As
At 31-December-2005
RIGIDTEX
SDN BHD
2005 2004 2003
MYR MYR MYR
ASSETS EMPLOYED:
FIXED
ASSETS 21,281,230 24,107,653 27,842,251
LONG
TERM INVESTMENTS/OTHER ASSETS
------------------- ------------------- -------------------
INTANGIBLE
ASSETS
Deferred/Expenditure
carried forward - - 86,154
Own
goodwill 317,679 293,236 -
------------------- ------------------- -------------------
TOTAL
INTANGIBLE ASSETS 317,679 293,236 86,154
------------------- ------------------- -------------------
TOTAL
LONG TERM ASSETS 21,598,909 24,400,889 27,928,405
CURRENT
ASSETS
Stocks 7,290,364 3,453,261 2,448,085
Trade
debtors 8,372,839 8,006,003 6,042,469
Other
debtors, deposits & prepayments 1,009,396 228,590 659,274
Items in transit between head
office & branches
Cash
& bank balances 1,454,925 1,786,670 381,628
------------------- ------------------- -------------------
TOTAL
CURRENT ASSETS 18,127,524 13,474,524 9,531,456
CURRENT
LIABILITIES
Trade
creditors 3,255,524 3,725,424 4,306,879
Other
creditors & accruals 787,986 892,346 1,168,410
Bank
overdraft 257,174 - 25,091
Other
borrowings 1,140,000 380,000 -
Bill
& acceptances payable 9,257,000 6,363,000 4,717,000
Amounts
owing to holding company 3,659,614 2,731,843 554,148
Provision
for taxation 558 558 558
------------------- ------------------- -------------------
TOTAL
CURRENT LIABILITIES 18,357,856 14,093,171 10,772,086
------------------- ------------------- -------------------
NET
CURRENT ASSETS/(LIABILITIES) <230,332> <618,647> <1,240,630>
------------------- ------------------- -------------------
TOTAL
NET ASSETS 21,368,577 23,782,242 26,687,775
=========== =========== ===========
FINANCED
BY:
SHARE
CAPITAL
Ordinary
share capital 45,000,000 45,000,000 45,000,000
-------------------
-------------------
-------------------
TOTAL SHARE CAPITAL 45,000,000 45,000,000 45,000,000
RESERVES
Retained profit/(Accumulated loss)
carried
forward <23,631,423> <21,217,758> <18,312,225>
------------------- ------------------- -------------------
TOTAL
RESERVES <23,631,423> <21,217,758> <18,312,225>
------------------- ------------------- -------------------
SHAREHOLDERS'
FUNDS/EQUITY 21,368,577 23,782,242 26,687,775
LONG
TERM & DEFERRED LIABILITIES & PROVISIONS
------------------- ------------------- -------------------
TOTAL LONG TERM & DEFERRED
LIABILITIES &
------------------- ------------------- -------------------
21,368,577 23,782,242 26,687,775
=========== =========== ===========
FINANCIAL RATIOS
As
At 31-December-2005
RIGIDTEX
SDN BHD
2005 2004 2003
MYR MYR MYR
TYPES OF FUNDS
Cash 1,454,925 1,786,670 381,628
Net
Liquid Funds 1,197,751 1,786,670 356,537
Net
Liquid Assets <7,520,696> <4,071,908> <3,688,715>
Net
Current Assets/(Liabilities) <230,332> <618,647> <1,240,630>
Net
Tangible Assets 21,050,898 23,489,006 26,601,621
Net
Monetary Assets <7,520,696> <4,071,908> <3,688,715>
BALANCE
SHEET ITEMS
Total
Borrowings 1,397,174 380,000 25,091
Total
Liabilities 18,357,856 14,093,171 10,772,086
Total
Assets 39,726,433 37,875,413 37,459,861
Net
Assets 21,368,577 23,782,242 26,687,775
Net
Assets Backing 21,368,577 23,782,242 26,687,775
Shareholders''
Funds 21,368,577 23,782,242 26,687,775
Total
Share Capital 45,000,000 45,000,000 45,000,000
Total
Reserves <23,631,423> <21,217,758> <18,312,225>
LIQUIDITY
(Times)
Cash
Ratio 0.08 0.13 0.04
Liquid
Ratio 0.59 0.71 0.66
Current
Ratio 0.99 0.96 0.88
WORKING
CAPITAL CONTROL (Days)
Stock
Ratio 63 32 28
Debtors
Ratio 73 74 70
Creditors
Ratio 28 35 50
SOLVENCY
RATIOS (Times)
Gearing
Ratio 0.07 0.02 0.00
Liabilities
Ratio 0.86 0.59 0.40
Times
Interest Earned Ratio <4.33> <8.06> <15.27>
PERFORMANCE
RATIO (%)
Operating
Profit Margin <5.75> <7.40> <12.07>
Net
Profit Margin <5.75> <7.40> <12.04>
Return
On Net Assets <9.17> <10.87> <13.41>
Return
On Capital Employed <9.20> <11.00> <13.44>
Return
On Shareholders'' Funds/Equity <11.30> <12.22> <14.26>
Dividend
Pay Out Ratio (Times) 0 0 0
NOTES
TO ACCOUNTS
Contingent
Liabilities 0 0 0
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%)