%20CO%20LTD%20-%2067899%2015-Dec-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PARTY DIAM
[THAI] CO., LTD. |
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Registered Office : |
22nd Floor, Itf-Silom Palace, 160/499 Silom Road, Silom, Bangrak, Bangkok
10500 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
14.06.2006 |
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Com. Reg. No.: |
0105549071133 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Distributor and
Exporter of Jewelry |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
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 Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
PARTY DIAM [THAI]
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 22nd FLOOR,
ITF-SILOM PALACE,
160/499 SILOM ROAD,
SILOM,
BANGRAK, BANGKOK
10500
TELEPHONE : [66]
2237-6581
FAX : [66] 2237-6581
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2006
REGISTRATION NO.
: 0105549071133
CAPITAL REGISTERED
: BHT. 6,000,000
CAPITAL PAID-UP
: BHT.
6,000,000
FISCAL YEAR
CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. ANIL GANEESHBHAI
MANGUKIA, INDIAN
MANAGING DIRECTOR
NO. OF
STAFF : 2
LINES OF
BUSINESS : JEWELRY
IMPORTER, DISTRIBUTOR
AND EXPORTER
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 June 14,
2006 as a
private limited company under the name style
PARTY DIAM [THAI]
CO., LTD., by Thai
and Indian groups,
with the objective
to engage in
diamond and gem
stone trading business.
It currently employs
2 staff.
The
subject’s registered address
is on 22nd
Floor, 160/499 ITF-Silom Palace, Silom Rd., Bangrak,
Bangkok, Bangkok 10500, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Anil Ganeeshbhai Mangukia |
|
Indian |
21 |
|
Mr. Hardik Vallabhbhai Kakadiya |
|
Indian |
21 |
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Anil Ganeeshbhai Mangukia
is the Managing Director.
He is Indian nationality with
the age of
21 years old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing and exporting
wide range of
diamond and gemstone
for jewelry production,
according to customer’s
requirement.
IMPORT
100% of the products
is imported from
India.
SALES
100% of the
products is sold
locally by wholesale
to traders 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
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.
NOTE
Refer to
your given the
subject name “Darty
Diam [Thai] Co.,
Ltd. Please be
informed that, the
correct subject’s name
should be “Party
Diam [Thai] Co.,
Ltd.
COMMENT
The subject
obtained a net
loss in the
first year of
its operation due
to it is the new
player in the market.
However, in 2007
subject has gradually
grown from the
previous year, but
its business seems
to have slowly
grown as well
as consumer market
is not promising, therefore its
business outlook is not
bright.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000 divided into 20,000 shares of Bht. 100 each with
fully paid.
On
September 25, 2007,
the capital was
increased to Bht. 6,000,000 divided into 60,000
shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at
April 24, 2008]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Anil Ganeeshbhai Mangukia Nationality: Indian Address : 160/566
Silom Rd., Silom,
Bangrak, Bangkok |
20,000 |
33.33 |
|
Mr. Kirit Kumar Hiralas
Italiya Nationality: Indian
Address : 160/566
Silom Rd., Silom,
Bangrak, Bangkok |
9,400 |
15.67 |
|
Mr. Pipop Savisith Nationality: Thai Address : 84
Krungkasem Rd., Klongmahanark, Pomprab,
Bangkok |
6,600 |
11.00 |
|
Ms. Sombul Chaengnil Nationality: Thai Address : 1/11
Moo 5, Lamlukka,
Pathumthani |
6,000 |
10.00 |
|
Mr. Manus Oreephap Nationality: Thai Address : 84
Krungkasem Rd., Klongmahanark,
Pomprab, Bangkok |
6,000 |
10.00 |
|
Mr. Viboon Upachewa Nationality: Thai Address : 10
Moo 7, Mengrai,
Phyamengrai, Chiangrai |
6,000 |
10.00 |
|
Mr. Santi Seechalad Nationality: Thai Address : 86
Krungkasem Rd., Klongmahanark,
Pomprab, Bangkok |
6,000 |
10.00 |
Total Shareholders :
7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT NO.
Ms. Dara Parksuchon No.
1312
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2007 &
2006 were:
ASSETS
|
Current Assets |
2007 |
2006 |
|
|
|
|
|
Cash in hand
& at Bank
|
111,674.96 |
198,768.80 |
|
Trade Accts. Receivable |
11,390,211.94 |
617,420.42 |
|
Short-term Loan to Related
Person |
- |
500,000.00 |
|
Inventories |
701,655.68 |
794,916.94 |
|
Other Current Assets
|
29,761.99 |
61,921.16 |
|
Total Current Assets
|
12,233,304.57 |
2,173,027.32 |
|
Long-term Loan to Related Person
|
2,300,000.00 |
- |
|
Total Assets |
14,533,304.57 |
2,173,027.32 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2007 |
2006 |
|
|
|
|
|
Trade Accts. Payable |
8,712,289.89 |
455,567.51 |
|
Other Current Liabilities |
60,059.60 |
7,668.02 |
|
Total Current Liabilities |
8,472,349.49 |
463,235.53 |
|
Total Liabilities |
8,472,349.49 |
463,235.53 |
|
|
|
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Shareholders' Equity |
|
|
|
|
|
|
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Share capital : Baht 100 value authorized, issued
and fully paid share
capital 60,000 &
20,000 shares in 2007 & 2006 |
6,000,000.00 |
2,000,000.00 |
|
Capital Paid |
6,000,000.00 |
2,000,000.00 |
|
Retained Earning -
Unappropriated |
60,955.08 |
[290,208.21] |
|
Total Shareholders' Equity |
6,060,955.08 |
1,709,791.79 |
|
Total Liabilities &
Shareholders' Equity |
14,533,304.57 |
2,173,027.32 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2007 |
June 14,
2006- Dec. 31,
2006 |
|
|
|
|
|
Sales Income |
13,207,729.58 |
796,837.15 |
|
Other Income |
48,367.61 |
47,137.37 |
|
Total Revenues |
13,256,097.19 |
843,974.52 |
|
Expenses |
|
|
|
|
|
|
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Cost of Goods
Sold |
12,251,871.46 |
715,610.44 |
|
Selling & Administrative Expenses |
613,363.36 |
418,572.29 |
|
Total Expenses |
12,865,234.82 |
1,134,182.73 |
|
Profit / [Loss] Before Income Tax |
390,862.37 |
[290,208.21] |
|
Income Tax |
[39,699.08] |
- |
|
Net Profit / [Loss] |
351,163.29 |
[290,208.21] |
FINANCIAL ANALYSIS
Annual Growth &
Profitability
|
Annual Growth |
2007 |
2006 |
|
Net Sales |
1,557.52 |
|
|
Operating Profit |
[108.13] |
|
|
Net Profit |
221.00 |
|
|
Total Assets |
568.80 |
|
|
Profitability |
|
|
|
Cost of Good
Sold |
92.76 |
89.81 |
|
Operating Profit Margin |
2.96 |
[36.42] |
|
S & A
Expenses |
4.64 |
52.53 |
|
Other Revenues |
0.37 |
5.92 |
|
Net Profit Margin |
2.66 |
[36.42] |
|
Earning Per Shares |
5.85 |
[14.51] |
|
No. of Shares |
60,000 |
20,000 |
Net Sales was
increased by 1,557.52%,
Operating Profit was
decreased by 108.13%,
Net Profit was
increased by 221.00%,
Total Assets was
increased by 568.80%.
%20CO%20LTD%20-%2067899%2015-Dec-2008_files/image004.gif)
Compare each cost
with sales, Cost of
Good Sold was
increased from 89.81%
to 92.76%, Operating
Profit Margin was
increased from -36.42%
to 2.96%, S
& A Expenses
was decreased from
52.53% to 4.64%,
Other Revenues was
decreased from 5.92%
to 0.37%, Net
Profit Margin was
increased from -36.42%
to 2.66%.
Earning Per Shares
was increased from
-14.51 baht per
share to 5.85
baht per share.
Liquidity
|
Liquidity |
2007 |
2006 |
|
Current Ratio |
1.44 |
4.69 |
|
Quick-Assets Ratio |
1.36 |
2.84 |
Current Ratio was
decreased from 4.69
to 1.44, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, Quick-Assets Ratio
was decreased from
2.84 to 1.36,
capacity to pay
Short Term Loan
was good too,
because Current Assets
without Inventory can
cover Current Liabilities.
%20CO%20LTD%20-%2067899%2015-Dec-2008_files/image006.gif)
Leverage
|
Leverage |
2007 |
2006 |
|
D/E Ratio |
1.40 |
0.27 |
D/E Ratio was
increased from 0.27
to 1.40, show
the company had
fund from Loan
more than fund
from Equity, investment
risked of the
company is medium.
%20CO%20LTD%20-%2067899%2015-Dec-2008_files/image008.gif)
Efficiency
|
Efficiency |
2007 |
2006 |
|
Total Assets Turnover |
0.91 |
0.37 |
|
Return on Assets |
2.42 |
[13.36] |
|
Return on Equity |
5.79 |
[16.97] |
|
Day's Payable |
237.47 |
205.82 |
|
Day’s Inventories |
19.12 |
359.13 |
|
Day’s Receivables |
310.46 |
278.94 |
Total Assets Turnover
was increased from
0.37 times to
0.91 times, show
the company could
use Assets so
efficiently, Return on
Assets was increased
from -13.36 to
2.42, Return on
Equity was increased
from -16.97 to
5.79, capacity to
use Assets to
make profit was
good.
Day's Payable was
increased from 206
days to 238
days, while Day’s
Inventories was decreased
from 360 days
to 20 days, but Day’s
Receivables was increased
from 279 days
to 311 days.
%20CO%20LTD%20-%2067899%2015-Dec-2008_files/image010.gif)
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.82 |
|
UK Pound |
1 |
Rs.73.08 |
|
Euro |
1 |
Rs.65.56 |
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%)