MIRA
INFORM REPORT
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Report Date : |
15.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIVERSAL ADSORBENTS &
CHEMICALS CO LTD |
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Registered Office : |
Room 19A, 19th Floor, TP & T Tower, Vibhavadee-Rangsit Road,Jatujak, Bangkok 10900 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1985 |
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Com. Reg. No.: |
0105528011875 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Distributor of wide range of Industrial
Equipment and Chemicals, Specialized in Oil & Gas, Energy and Petrochemical Industries. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Usually Correct |
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Litigation : |
Clear |
name
UNIVERSAL ADSORBENTS & CHEMICALS CO., LTD.
SUMMARY
BUSINESS ADDRESS : ROOM 19A, 19th FLOOR, TP & T TOWER,
VIBHAVADEE-RANGSIT ROAD,
JATUJAK, BANGKOK 10900
TELEPHONE : [66] 2936-1701-6
FAX : [66] 2936-1700
REGISTRATION ADDRESS : SAME AS BUSINESS ADDRESS
ESTABLISHED : 1985
REGISTRATION NO. : 0105528011875
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT. 5,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MS. NILRAT JARUMANOPAS, THAI
MANAGING DIRECTOR
NO. OF STAFF : 120
LINES OF BUSINESS : INDUSTRIAL EQUIPMENT AND CHEMICALS
IMPORTER AND DISTRIBUTOR
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 April 1, 1985 as a private limited company under the originally registered name “Jakrnapa Co., Ltd.,” by Thai groups. On June 28, 1995, subject was changed its name to be UNIVERSAL ADSORBENTS & CHEMICALS CO., LTD. Its business objective is an importer and distributor wide range of industrial equipment and chemicals in domestic market. It currently employs approximately 120 staff.
The subject’s registered address is 1 TP & T Tower, Vibhavadee-Rangsit Rd., Jatujak, Bangkok 10900, 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. Kitti Chewaketu |
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Thai |
53 |
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Ms. Nilrat Jarumanopas |
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Thai |
49 |
AUTHORIZED PERSON
One of the above directors can sign on behalf of the subject with company’s affixed.
MANAGEMENT
Ms. Nilrat Jarumanopas is the Managing Director.
She is Thai nationality with the age of 49 years old.
Mr. Thanate Chitkulsamphan is the Marketing Manager.
He is Thai nationality.
BUSINESS OPERATIONS
The subject is engaged in importing and distributing wide range of industrial equipment and chemicals, specialized in oil & gas, energy and petrochemical industries. The products include based and specialty chemicals, adsorbents, catalysts, filters and related equipment. The subject also provides installation and maintenance service.
IMPORT
Most of the products are imported from U.S.A., Germany and Japan.
SALES/ SERVICES
The product is sold and serviced locally to dealers, 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 L/C at sight or T/T.
BANKING
Banker’s name was not disclosed.
EMPLOYMENT
The subject employs approximately 120 office staff, sales staff and service workers.
LOCATION DETAILS
The premise is rented for administrative office at the heading address. Premise is located in commercial/residential area.
Branch office is located at 100 Moo 1, Niyom-Klongsan Rd., Klongniyom Yartra, Bangbor, Samutprakarn 10560.
REMARK
CREDIT OF US$ 125,000 ON 90 DAYS SHOULD BE IN ORDER.
COMMENT
The subject is doing good business. Gains were from the its professional and expert in the industries that have more investment and expansion like oil & gas, power plant and petrochemical industries.
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 November 15, 1999
Bht. 5,000,000 on December 27, 2004
The latest registered capital was increased to Bht. 5,000,000 divided into 50,000 shares of Bht. 100 each with fully paid.
THE SHAREHOLDERS LISTED WERE :
[as at April 30, 2007]
|
NAME |
HOLDING |
% |
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Ms. Nilrat Jarumanopas Nationality: Thai Address : 3871/31 Bangklo, Bangkorlaem, Bangkok |
40,001 |
80.00 |
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Mr. Kitti Chewaketu Nationality: Thai Address : 189 Soi Saisin, Bangsue, Bangkok |
6,995 |
13.99 |
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Ms. Niranuch Jarumanopas Nationality: Thai Address : 73 Soi Sri Suriyothai, Yannawa, Sathorn, Bangkok |
3,000 |
6.00 |
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Mr. Kanitchon Leekasul Nationality: Thai Address : 415 Sathupradit Rd., Chongnonsi, Yannawa, Bangkok |
1 |
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Mr. Narong Prapayont Nationality: Thai Address : 415 Sathupradit Rd., Chongnonsi, Yannawa, Bangkok |
1 |
= 0.01 |
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Mr. Pongtach Rattananond Nationality: Thai Address : 23/54 Moo 6, Thungsonghong, Donmuang, Bangkok |
1 |
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Mrs. Pojanee Phaosawas Nationality: Thai Address : 5/73 Moo 16, Bangkaew, Bangplee, Samutprakarn |
1 |
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Total Shareholders : 7
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO. :
Mrs. Salaikham Thamjaree No. 3370
BALANCE SHEET [BAHT]
The latest financial figures published for December 31, 2006 & 2005 were:
ASSETS
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Current Assets |
2006 |
2005 |
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Cash in hand & at Bank |
21,107,017.64 |
27,731,148.69 |
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Short Term Investment |
14,023,476.10 |
614,338.28 |
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Trade Accts. Receivable |
78,801,835.38 |
30,230,889.58 |
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Short Term Loan to Person or Related Company |
6,300.00 |
6,300.00 |
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Inventories |
76,086,059.26 |
85,547,094.80 |
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Other Current Assets |
10,691,720.55 |
6,043,276.28 |
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Total Current
Assets |
200,716,408.93 |
150,173,047.63 |
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Other Long Term Investment |
124,925.00 |
462,425.00 |
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Fixed Assets |
10,180,289.57 |
9,018,643.35 |
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Other Assets |
2,474,626.52 |
2,254,524.65 |
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Total Assets |
213,496,250.02 |
161,908,640.63 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
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Current Liabilities |
2006 |
2005 |
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Bank Overdraft & Short Term Loan from Financial Institution |
28,052,400.10 |
19,725,957.35 |
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Promissory Notes |
16,000,000.00 |
16,000,000.00 |
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Trade Accts. Payable |
55,666,135.07 |
51,944,448.72 |
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Current Portion of Long Term Loans |
1,357,308.84 |
662,388.84 |
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Short Term Loan from Person or Related Company |
10,000,000.00 |
20,500,000.00 |
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Other Current Liabilities |
38,567,903.87 |
11,690,596.91 |
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Total Current
Liabilities |
149,643,747.88 |
120,523,391.82 |
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Other Long Term Loan |
3,162,250.84 |
1,324,777.68 |
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Total Liabilities |
152,805,998.72 |
121,848,169.50 |
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Shareholders'
Equity |
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Share capital : Baht 100 par value authorized, issued and fully paid share capital 50,000 shares |
5,000,000.00 |
5,000,000.00 |
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Capital Paid |
5,000,000.00 |
5,000,000.00 |
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Retained Earning - Unappropriated |
55,690,251.30 |
35,060,471.13 |
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Total Shareholders'
Equity |
60,690,251.30 |
40,060,471.13 |
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Total
Liabilities & Shareholders' Equity |
213,496,250.02 |
161,908,640.63 |
PROFIT & LOSS
ACCOUNT
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Revenue |
2006 |
2005 |
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Sales Income |
550,125,599.03 |
513,622,185.88 |
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Services Income |
37,284,603.73 |
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Other Income |
2,988,537.54 |
124,877.11 |
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Total Revenues |
590,398,740.30 |
513,747,062.99 |
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Expenses |
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Cost of Goods Sold |
490,188,015.14 |
420,665,189.31 |
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Selling & Administrative Expenses |
69,060,309.36 |
75,800,448.86 |
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Total Expenses |
559,248,324.50 |
496,465,638.17 |
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Profit / [Loss] Before Interest Expenses & Income Tax |
31,150,415.80 |
17,281,424.82 |
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Interest Expenses |
[1,212,798.61] |
[835,795.17] |
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Income Tax |
[9,307,837.02] |
[4,874,861.90] |
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Net Profit / [Loss] |
20,629,780.17 |
11,570,767.75 |
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%)