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, 1 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 : |
Industrial Equipment And Chemicals Importer And
Distributor |
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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Maximum Credit Limit : |
US$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
company name
UNIVERSAL ADSORBENTS & CHEMICALS CO.,
LTD.
SUMMARY
BUSINESS ADDRESS : ROOM
19A, 19th FLOOR,
TP & T TOWER,
1
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
according to IRICO’S
DATABASE 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
|
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
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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]
|
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
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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%)