MIRA
INFORM REPORT
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Report Date : |
23.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASIA-TRADE.NET COMPANY LIMITED |
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Registered Office : |
656 Mooban Mitrapab,
Soi Onnuch 46, Sukhumvit 77 Road, Nongbon,
Praves, Bangkok 10250 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
14.12. 1999 |
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Com. Reg. No.: |
0105542095975 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer,
Distributor and Exporter of
International Trading Company |
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 : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
ASIA-TRADE.NET COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 656
MOOBAN MITRAPAB, SOI
ONNUCH 46,
SUKHUMVIT 77
ROAD, NONGBON,
PRAVES, BANGKOK
10250
TELEPHONE : [66] 2321-0761
FAX : [66] 2720-6265
E-MAIL
ADDRESS : nattaya@asia-trade.net
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION NO. : 0105542095975
CAPITAL REGISTERED : BHT. 4,000,000
CAPITAL PAID-UP : BHT. 4,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MRS. NATTAYA KUBESCH,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 10
LINES
OF BUSINESS : INTERNATIONAL TRADING
COMPANY
IMPORTER, DISTRIBUTOR
AND E XPORTER
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 December 14,
1999 as a
private limited company under the originally
registered name “Data
Vault & Depository
Company Limited” by
Thai and Austrian groups. On
June 4, 2002,
subject was changed
its name to
be ASIA-TRADE.NET COMPANY LIMITED,
with the business’s objective to engage in
international trading business.
It currently employs
approximately 10 staff.
The
subject’s registered address
is 656 Soi Onnuch 46,
Sukhumvit 77 Rd.,
Nongbon, Praves, Bangkok
10250, 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. Werner Kubesch |
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Austrian |
52 |
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Mrs. Nattaya Kubesch |
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Thai |
33 |
AUTHORIZED PERSON
One of the above
directors can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mrs. Nattaya Kubesch
is the Managing Director.
She is Thai nationality with
the age of
33 years old.
BUSINESS OPERATIONS
The subject is
engaged in international trading business, by
importing, distributing and
exporting wide range
of wooden products,
such as veneer,
carvings, wood sign
boards, exotic pens,
exotic timber, wood
mushrooms, wooden floor,
exotic hardwood, solid
wood furniture, wooden
frame mirrors, wooden
picture frames, burls,
bamboo, timber, plank
and etc. The
products are imported
and exported under
customer’s orders.
PURCHASE
The products are
purchased from suppliers
and agents both
domestic and overseas
in India, Pakistan,
Republic of China,
Taiwan, Laos and
Myanmar.
SALES
The products are
sold locally and
overseas in Laos,
Cambodia, Myanmar, Vietnam,
Malaysia, Singapore and
Middle East countries.
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
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately 10 staff
LOCATION DETAILS
The
premise is owned
for administrative office
at the heading address. Premise
is located in
commercial/residential area.
COMMENT
The
subject’s sales were
slow. Its business
has not run
well and expected
to be slowing down.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided into 10,000
shares of Bht. 100 each.
The
capital was increased
later as following:
Bht. 2,000,000 on October 25,
2002
Bht. 4,000,000 on February 20,
2006
The
latest registered capital
was increased to
Bht. 4,000,000 divided into
40,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
[as
at February 1,
2008]
|
NAME |
HOLDING |
% |
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Mr. Werner Kubesch Nationality: Austrian Address : 656
Sukhumvit 77 Rd.,
Nongbon, Praves, Bangkok |
19,600 |
49.00 |
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Mrs.
Nattaya Kubesch Nationality: Thai Address : 656
Sukhumvit 77 Rd.,
Nongbon, Praves, Bangkok |
12,396 |
30.99 |
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Master Chakrawal
Kubesch Nationality: Thai Address : 656
Sukhumvit 77 Rd.,
Nongbon, Praves, Bangkok |
8,000 |
20.00 |
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Mr. Anusorn Utchin Nationality: Thai Address : 509
South Sathorn Rd.,
Yannawa,
Sathorn, Bangkok |
1 |
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Mr.
Surapong Utchin Nationality: Thai Address : 509
South Sathorn Rd.,
Yannawa,
Sathorn, Bangkok |
1 |
= 0.01 |
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Mr.
Surapong Utchin Nationality: Thai Address : 509
South Sathorn Rd.,
Yannawa,
Sathorn, Bangkok |
1 |
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Ms.
Patcharapa Khanta Nationality: Thai Address : 92
Moo 1, Nayai,
Suvarnabhumi, Roi-ed |
1 |
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Total Shareholders : 7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Somkiat
Charoensantiphap No. 1095
BALANCE SHEET [BAHT]
The 2006 financial
statement was not
submitted to the
Commercial Registration Department,
Ministry of Commerce.
The
latest financial figures
published for December
31, 2005 &
2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
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Cash in hand
& at Bank
|
615,352.14 |
594,873.47 |
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Trade Accts. Receivable |
648,559.70 |
295,262.74 |
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Inventories |
178,640.00 |
219,240.00 |
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Short Term Loan to Related Person |
- |
2,473,193.04 |
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Other Current Assets
|
139,710.40 |
117,275.52 |
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Total Current
Assets |
1,582,262.24 |
3,699,844.77 |
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Fixed Assets |
2,654,422.32 |
1,364,320.15 |
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Other Assets |
40,340.79 |
7,903.19 |
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Total Assets |
4,277,025.35 |
5,072,068.11 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2005 |
2004 |
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Accrued Income Tax |
30,323.42 |
29,886.30 |
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Other Current Liabilities |
8,181.97 |
264,074.55 |
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Total Current
Liabilities |
38,505.39 |
293,960.85 |
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Long Term Loan |
1,560,000.00 |
2,751,700.00 |
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Other Payable |
773,674.12 |
138,670.00 |
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Total Liabilities |
2,372,179.51 |
3,184,330.85 |
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Shareholders'
Equity |
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Share capital : Baht 100 par value
authorized, issued
and fully paid share
capital 20,000 shares |
2,000,000.00 |
2,000,000.00 |
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Capital Paid |
2,000,000.00 |
2,000,000.00 |
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Retained Earning -
Unappropriated |
[95,154.16] |
[112,262.74] |
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Total
Shareholders' Equity |
1,904,845.84 |
1,887,737.26 |
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Total
Liabilities & Shareholders' Equity |
4,277,025.35 |
5,072,068.11 |
PROFIT & LOSS ACCOUNT
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Revenue |
2005 |
2004 |
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Sales |
6,101,979.34 |
10,284,721.61 |
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Other Income |
16,769.94 |
94,670.42 |
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Total Revenues
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6,118,749.28 |
10,379,392.03 |
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Expenses |
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Cost of Goods
Sold |
3,156,189.46 |
8,228,445.99 |
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Selling & Administrative Expenses |
2,779,293.61 |
1,903,987.11 |
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Total Expenses |
5,935,483.07 |
10,132,433.10 |
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Profit / [Loss] Before Interest Expenses & Income Tax |
183,266.21 |
246,958.93 |
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Interest Expenses |
[135,834.21] |
[57,343.72] |
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Income Tax |
[30,323.42] |
[29,886.30] |
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Net Profit / [Loss] |
17,108.58 |
159,728.91 |
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%)