MIRA
INFORM REPORT
|
Report Date : |
06.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ASMI DIAM CO., LTD. |
|
|
|
|
Registered Office : |
Room 7, 11th Floor, Bangkok Gems & Jewellery Building, 322/17
Surawong Road, Siphya, Bangrak, Bangkok
10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
25.09.2006 |
|
|
|
|
Com. Reg. No.: |
0105549114797 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Diamonds and
Gemstones |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name of the company
ASMI DIAM CO., LTD.
SUMMARY
BUSINESS
ADDRESS : ROOM
7, 11th FLOOR,
BANGKOK GEMS & JEWELLERY
BUILDING, 322/17
SURAWONG ROAD, SIPHYA,
BANGRAK, BANGKOK
10500, THAILAND
TELEPHONE : [66] 2631-6589
FAX : [66] 2631-6589
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2006
REGISTRATION NO. : 0105549114797
CAPITAL REGISTERED : BHT. 2,000,000
CAPITAL PAID-UP : BHT. 2,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. RUSHABH DILIPBHAI SHAH, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : DIAMONDS AND GEMSTONES
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH FAIR PERFORMANCE
HISTORY
The
subject was established
on September 25,
2006 as a
private limited company under the name style
ASMI DIAM CO.,
LTD., by Thai
and Indian groups,
with the business
objective to import
and distribute diamonds
and gemstones to
domestic market. It
currently employs 2
staff.
The
subject’s registered address
is 322/17 Surawong
Rd., Siphya, Bangrak,
Bangkok 10500, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Nirab Vasant Kumar
Rokani |
|
Indian |
24 |
|
Mr. Rushabh Dilipbhai Sha |
|
Indian |
28 |
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Rushabh Dilipbhai
Sha 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 of
diamonds and gemstones.
IMPORT
Most
of the products are imported
from India, the
remaining is purchased
from local suppliers.
SALES
The products are
sold locally by
wholesale to traders,
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 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 2
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 was formed
in 2006 as an
importer and distributor of diamond and
gemstones. Its products
has been served
to local manufactures and traders. Jewelry
market slowdown from
economic sluggish has
also mirrored market
of diamond and
gemstones due to
decline consumption and
consumers’ spending. Luxury
goods are the
sector that has
hardly hit by
economy slowdown since
the large consumer
segment is middle
income group, which
concerns more on
spending money.
Since
the subject was
established, it reported
revenue for 2006
at Baht 9,000.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000 divided
into 20,000 shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as
at February 27,
2007]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs.
Noocharan Abdul Nationality: Thai Address : 37
Moo 1, Nongsaengyai, Kongchiam,
Ubonratchathani |
11,800 |
59.00 |
|
Mr. Nirab Vasant
Kumar Rokani Nationality: Indian Address : 62/1
Charoenkrung Rd., Siphya,
Bangrak, Bangkok |
3,900 |
19.50 |
|
Mr. Rushabh Dilipbhai
Sha Nationality: Indian Address : 62/1
Charoenkrung Rd., Siphya,
Bangrak, Bangkok |
3,900 |
19.50 |
|
Ms. Prapa Yanmadani Nationality: Thai Address : 500/7
Rimklongsaensab,
Bangkapi,
Huaykwang, Bangkok |
100 |
0.50 |
|
Ms. Oraphan Kumnoom Nationality: Thai Address : 153/1
Charoennakorn Rd., Bukkalo,
Thonburi, Bangkok |
100 |
0.50 |
|
Ms. Namthip Wongsri Nationality: Thai Address : 203/278
Moo 1, Bangsaothong,
Samutprakarn |
100 |
0.50 |
|
Mr. Samak Narknawa Nationality: Thai Address : 29/1
Pattanakarn Rd., Suanluang, Bangkok |
100 |
0.50 |
Total Shareholders : 7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Ms. Kanthima
Thamrongteeraphap No. 7251
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2006 was:
ASSETS
|
Current Assets |
2006 |
|
|
|
|
Cash in hand |
81,158.00 |
|
Inventories |
1,399,075.78 |
|
Deferred Income |
9,000.00 |
|
Loan to Director |
1,800,000.00 |
|
Undue Business Tax |
97,992.00 |
|
Total Current
Assets |
3,387,225.78 |
|
Total Assets |
3,387,225.78 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2006 |
|
|
|
|
Trade Accts. Payable |
1,399,075.78 |
|
Accrued Expenses |
3,000.00 |
|
Total Current
Liabilities |
1,402,075.78 |
|
Total Liabilities |
1,402,075.78 |
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
Share capital : Baht 100 value authorized, issued
and fully paid share
capital 20,000 shares |
2,000,000.00 |
|
Capital Paid |
2,000,000.00 |
|
Retained Earning -
Unappropriated |
[14,850.00] |
|
Total
Shareholders' Equity |
1,985,150.00 |
|
Total
Liabilities & Shareholders' Equity |
3,387,225.78 |
PROFIT & LOSS ACCOUNT
|
Revenue |
Sept.
25, 2006- Dec.
31, 2006 |
|
|
|
|
Other Income |
9,000.00 |
|
Total Revenues
|
9,000.00 |
|
Expenses |
|
|
|
|
|
Selling & Administrative Expenses |
23,850.00 |
|
Total Expenses |
23,850.00 |
|
Net Profit / [Loss] |
[14,850.00] |
FINANCIAL ANALYSIS
Profitability
|
Profitability |
2006 |
|
Earning Per Shares |
[0.74] |
|
No. of Shares |
20,000 |
Earning Per Shares
was -0.74 baht
per share.
Liquidity
|
Liquidity |
2006 |
|
Current Ratio |
2.42 |
|
Quick-Assets Ratio |
0.06 |
Current Ratio was
2.42, show Current
Assets can cover
Current Liabilities, Liquidity
Ratio of the
company was good,
Quick-Assets Ratio was
0.06, capacity to
pay Short Term
Loan was not
good, because Current
Assets without Inventory
can not cover
Current Liabilities.
Leverage
|
Leverage |
2006 |
|
D/E Ratio |
0.71 |
D/E Ratio was 0.71, show
the company had
fund from Equity
more than fund
from Loan, investment
risked of the
company is low.
Efficiency
|
Efficiency |
2006 |
|
Return on Assets |
[0.44] |
|
Return on Equity |
[0.75] |
Return on Assets
was -0.44, Return
on Equity was
-0.75, capacity to
use Assets to
make profit was
not good.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.00 |
|
UK Pound |
1 |
Rs.82.14 |
|
Euro |
1 |
Rs.65.09 |
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%)