MIRA
INFORM REPORT
|
Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
THANA DEVELOPPER
CO., LTD. |
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Registered Office : |
112/257 Moo 2,
Soi Ekachai 18,
Ekachai Road,
Bangkhunthien, Jomthong, Bangkok
10150 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
13.10. 2006 |
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Com. Reg. No.: |
0105549122692 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Shipping Service |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 : |
No Complaints |
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Litigation : |
Clear |
name of the company
THANA DEVELOPPER CO., LTD.
SUMMARY
BUSINESS ADDRESS : 112/257 MOO 2, SOI
EKACHAI 18, EKACHAI
ROAD,
BANGKHUNTHIEN, JOMTHONG,
BANGKOK 10150
TELEPHONE : [66]
081 399-9664
FAX : [66] 2224-7513
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2006
REGISTRATION NO.
: 0105549122692
CAPITAL REGISTERED
: BHT. 1,000,000
CAPITAL PAID-UP
: BHT. 1,000,000
FISCAL YEAR
CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. PARKPHUM PISIT-AMORNKUL, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 2
LINES OF
BUSINESS : SHIPPING SERVICE
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 October 13,
2006 as a
private limited company under the name style
THANA DEVELOPPER CO., LTD.,
by Thai groups,
with the business
objective to provide
shipping service. It
currently employs 2
staff.
The
subject’s registered address
was initially located
at 1 Soi Ramkhamhaeng 2,
Seree Rd., Huamark,
Bangkapi, Bangkok 10240.
In
June 2008, the
subject’s registered was
relocated to 112/257
Moo 2, Ekachai 18 Rd.,
Bangkhunthien, Jomthong, Bangkok
10150, and this
is the subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Thanawan Kiatkosolkul |
|
Thai |
35 |
|
Mr. Parkphum Pisit-amornkul |
|
Thai |
29 |
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Parkphum Pisit-amornkul is
the Managing Director.
He is Thai nationality with
the age of
29 years old.
BUSINESS OPERATIONS
The subject is
a shipping service
provider, including customs
clearance, import-export documentary
operation & consultant
and etc.
SERVICES
Most of clients
are served to
importer, exporter and
manufacturers.
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
Services are by
cash or on
the credits term
of 30 days.
Local bills are
paid by cash
or on the credits term
of 30-60 days.
BANKING
The banker’s name was not disclosed.
EMPLOYMENT
The
subject employs 2
staff.
LOCATION DETAILS
The
premise is owned
for administrative office
at the heading address. Premise
is located in
commercial/residential area.
REMARK
CREDIT
OF US$ 500,000 D/A SHOULD
BE ON SECURED BASIS.
COMMENT
The
subject was formed
in 2006 as
a shipping services.
Subject reported its
first year operation
at zero, while
sales revenue in
2007 was 159,803.08
baht. However, its
operating performance remains
too low. Subject’s
business is likely
grow slowly.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[as at
August 3, 2007]
|
NAME |
HOLDING |
% |
|
|
|
|
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Mr. Parkphum Pisit-amornkul Nationality: Thai Address : 164/167
Petchkasem Rd., Wad
Thaphra,
Bangkokyai, Bangkok |
9,994 |
99.94 |
|
Ms. Nathaporn Pisit-amornkul Nationality: Thai Address : 66
Luang Rd., Wad
Thepsirin, Pomprab,
Bangkok |
1 |
0.01 |
|
Mr. Taweesak Pisit-amornkul Nationality: Thai Address : 66
Luang Rd., Wad
Thepsirin, Pomprab, Bangkok |
1 |
0.01 |
|
Mr. Tawimon Pisit-amornkul Nationality: Thai Address : 66
Luang Rd., Wad
Thepsirin, Pomprab, Bangkok |
1 |
0.01 |
|
Mr. Somchai Saechua Nationality: Thai Address : 305/38 Petchkasem Rd.,
Wad Thaphra,
Bangkokyai, Bangkok |
1 |
0.01 |
|
Ms. Jaruwan Sripin Nationality: Thai Address : 559/21
Petchkasem 92 Rd.,
Bangkaenua, Bangkae, Bangkok |
1 |
0.01 |
|
Ms. Saranporn Saeteo Nationality: Thai Address : 72/172
Moo 4, Pimolrach, Bangbuathong, Nonthaburi |
1 |
0.01 |
Total Shareholders :
7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Ms. Pornthip Khaoreang No.
5474
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2007 &
2006 were:
ASSETS
|
Current Assets |
2007 |
2006 |
|
|
|
|
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Cash in hand
& at Bank
|
513,062.03 |
995,000.00 |
|
Inventories |
386,063.37 |
- |
|
Other Current Assets
|
20,023.69 |
- |
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Total Current Assets
|
919,149.09 |
995,000.00 |
|
|
|
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Fixed Assets |
18,336.78 |
- |
|
Other Assets |
3,186.00 |
- |
|
Total Assets |
940,671.87 |
995,000.00 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2007 |
2006 |
|
|
|
|
|
Short Term Loan from
Person or Related Company |
100,000.00 |
- |
|
Other Current Liabilities |
12,026.00 |
3,000.00 |
|
Total Current Liabilities |
112,026.00 |
3,000.00 |
|
Total Liabilities |
112,026.00 |
3,000.00 |
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Shareholders' Equity |
|
|
|
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|
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Share capital : Baht 100 value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning -
Unappropriated |
[171,354.13] |
[8,000.00] |
|
Total Shareholders' Equity |
828,645.87 |
992,000.00 |
|
Total Liabilities & Shareholders' Equity |
940,671.87 |
995,000.00 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2007 |
2006 |
|
|
|
|
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Sales Income |
21,485.00 |
- |
|
Services Income |
138,200.00 |
- |
|
Other Income |
118.08 |
- |
|
Total Revenues |
159,803.08 |
- |
|
Expenses |
|
|
|
|
|
|
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Cost of Goods
Sold |
21,058.68 |
- |
|
Selling & Administrative Expenses |
302,098.53 |
8,000.00 |
|
Total Expenses |
323,157.21 |
8,000.00 |
|
Net Profit / [Loss] |
[163,354.13] |
[8,000.00] |
FINANCIAL ANALYSIS
Annual Growth &
Profitability
|
Annual Growth |
2007 |
2006 |
|
Net Profit |
[1,941.93] |
|
|
Total Assets |
[5.46] |
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Profitability |
|
|
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Cost of Good
Sold |
98.02 |
0.00 |
|
Operating Profit Margin |
[760.32] |
0.00 |
|
S & A
Expenses |
1,406.09 |
0.00 |
|
Other Revenues |
643.79 |
0.00 |
|
Net Profit Margin |
[760.32] |
0.00 |
|
Earning Per Shares |
[16.34] |
[0.80] |
|
No. of Shares |
10,000 |
10,000 |
Net Profit was
decreased by 1,941.93%,
Total Assets was
decreased by 5.46%.
Compare each cost
with sales, Cost of Good Sold
was increased from
0.00% to 98.02%,
Operating Profit Margin
was decreased from
0.00% to -760.32%,
S & A
Expenses was increased
from 0.00% to
1,406.09%, Other Revenues
was increased from
0.00% to 643.79%,
Net Profit Margin
was decreased from
0.00% to -760.32%.
Earning Per Shares
was decreased from
-0.80 baht per
share to -16.34
baht per share.
Liquidity
|
Liquidity |
2007 |
2006 |
|
Current Ratio |
8.20 |
331.67 |
|
Quick-Assets Ratio |
4.58 |
331.67 |
Current Ratio was
decreased from 331.67
to 8.20, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, Quick-Assets Ratio
was decreased from 331.67 to 4.58,
capacity to pay
Short Term Loan
was good too,
because Current Assets
without Inventory can
cover Current Liabilities.
Leverage
|
Leverage |
2007 |
2006 |
|
D/E Ratio |
0.14 |
0.00 |
D/E Ratio was
increased from 0.00
to 0.14, show
the company had
fund from Equity
more than fund
from Loan, investment
risked of the
company is low.
Efficiency
|
Efficiency |
2007 |
2006 |
|
Fixed Assets Turnover |
1.17 |
0.00 |
|
Total Assets Turnover |
0.02 |
0.00 |
|
Return on Assets |
[17.37] |
[0.80] |
|
Return on Equity |
[19.71] |
[0.81] |
|
Day’s Inventories |
6,468.83 |
0.00 |
Fixed Assets Turnover
was increased from
0.00 times to
1.17 times, Total
Assets Turnover was
increased from 0.00
times to 0.02
times, show the
company could use
Assets so efficiently, Return on Assets
was decreased from
-0.80 to -17.37,
Return on Equity
was decreased from
-0.81 to -19.71,
capacity to use
Assets to make
profit was not
good.
Day’s Inventories was increased
from 0 days to 6469
days.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.72 |
|
UK Pound |
1 |
Rs.81.45 |
|
Euro |
1 |
Rs.64.47 |
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 |
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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%)