MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJRATAN
THAI WIRE CO.,
LTD. |
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Registered Office : |
155/11 Moo 4,
T. Chet Samein, A. Potharam, Ratchburi Province |
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Country : |
Thailand |
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Date of Incorporation : |
28.11.2006 |
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Com. Reg. No.: |
0105549139498 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer and Distributor of Tire Bead
Wires |
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 and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
RAJRATAN
THAI WIRE CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 155/11 MOO 4, T. CHET
SAMEIN, A. POTHARAM,
RATCHBURI PROVINCE
TELEPHONE : [66] 32
375-841-4
FAX :
[66] 32
375-840
E-MAIL
ADDRESS : rtwl@rtwl.co.in
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2006
REGISTRATION NO. : 0105549139498
CAPITAL REGISTERED : BHT. 140,000,000
CAPITAL PAID-UP : BHT. 140,000,000
FISCAL YEAR CLOSING DATE : -
LEGAL
STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. GHANSHYAM RATHI,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 80
LINES
OF BUSINESS : TIRE
BEAD WIRES
MANUFACTURER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : -
MANAGEMENT
STANDARD : -
HISTORY
The
subject was established on November 28,
2006 as a
private limited company under the registered name
style RAJRATAN THAI
WIRE CO., LTD.,
by Indian groups,
in order to
manufacturing service tire
bead wire to
local automotive tire
industry. It currently
employs approximately 80
staff.
Subject is a
wholly owned subsidiary
of Rajratan Global
Wire Co., Ltd.,
India.
The
subject’s registered address
is 155/11 Moo
4, T. Chet Samein,
A.Potharam, Ratchburi 70120,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTORS
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Name |
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Nationality |
Age |
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Mr. Sunil Chordia |
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Indian |
45 |
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Mr. Purushottamdas Nagar |
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Indian |
64 |
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Mr. Abhishek Dalmia |
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Indian |
39 |
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Mr. Ghanshyam Rathi |
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Indian |
46 |
AUTHORIZED PERSON
One of the above
directors can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Ghanshyam Rathi
is the Managing Director.
He is Indian nationality with
the age of
46 years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing service of tire
bead wires for
automotive tire industry.
The production has
been started in
2007.
PURCHASE
Most of raw
materials are purchased
from local suppliers,
the remaining is
imported from Indian,
Republic of China
and Japan.
SALES / SERVICES
100% of the
products is sold
and serviced locally
by wholesale to
manufacturers 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 and services
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
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately 80 staff.
LOCATION DETAILS
The
premise is rented
for administrative office and
factory at the
heading address. Premise
is located in
provincial area.
Bangkok
office and showroom
is located at
75/51A, 24th
Flr., Ocean Tower II, Sukhumvit
19 Rd., Klongtoeynua, Wattana, Bangkok 10110.
Tel. : [66] 2661-6512,
Fax. : [66] 2661-6513.
COMMENT
The
subject has started
its production in
2007, however it
has good potential
due to strong growth in
automobile industry.
FINANCIAL INFORMATION
The
capital was registered at Bht. 2,000,000 divided
into 200,000 shares of Bht.
10 each.
On
January 22, 2007, the capital was increased to
Bht. 140,000,000 divided into
14,000,000 shares of
Bht. 10 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
: [as at February 1,
2008]
|
NAME |
HOLDING |
% |
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Rajratan Global
Wire Co., Ltd. Nationality: Indian Address : 11/2
Meerapath Rd., Indori,
India |
13,999,930 |
99.99 |
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Mr. Sunil Chordia Nationality: Indian Address : 11/2
Meerapath Rd., Indori,
India |
10 |
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Mr.
Purushottamdas Nagar Nationality: Indian Address : 403
Tritaviraj Rd., New
Delhi, India |
10 |
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Mr.
Abhishek Dalmea Nationality: Indian Address : Tritaviraj Rd., New Delhi,
India |
10 |
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Mrs.
Saenjita Chordia Nationality: Indian Address : Y. N.
Rd., Indori, India |
10 |
= 0.01 |
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Mr.
Ghanshyam Rathi Nationality: Indian Address : 11/2
Meerapath Rd., Indori,
India |
10 |
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Mr. Bhankrisnan Reddy
Krisana Nationality: Indian Address : 302
Rajendra, Nagar, India |
10 |
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Mr. Ragesh Kumar
Kur Nationality: Indian Address : 94
Shander Rd., Nagar,
India |
10 |
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Total Shareholders : 8
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Athikom Premasathien No.
5615
NOTE
The 2006 financial
statement is not
available during this investigation.
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%)