MIRA
INFORM REPORT
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Report Date : |
08.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
A. R. TRADING REGISTERED
ORDINARY PARTNERSHIP |
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Formerly Known As : |
A. R. TRADING [A.R. FILM] |
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Registered Office : |
376/5 Phahurat Road,
Wangburapapirom, Phranakorn,
Bangkok 10200 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
03.10.1961 |
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Com. Reg. No.: |
0102504000919 |
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Legal Form : |
Register Orinary Partnership |
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Line of Business : |
Importer and Distributor of Foods and
Consumer Products |
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 : |
No Complaints |
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Litigation : |
Clear |
name of the company
A. R. TRADING
REGISTERED ORDINARY PARTNERSHIP
SUMMARY
BUSINESS
ADDRESS : 376/5 PHAHURAT ROAD, WANGBURAPAPIROM,
PHRANAKORN, BANGKOK
10200, THAILAND
TELEPHONE : [66] 2221-5595
FAX :
[66] 2226-2374
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1961
REGISTRATION
NO. : 0102504000919 [Former : 93/2504]
CAPITAL REGISTERED : BHT. 3,000,000
CAPITAL PAID-UP : BHT. 3,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : REGISTER
ORINARY PARTNERSHIP
EXECUTIVE : MR. HARKRISHANLAL SACHDEV,
INDIAN
MANAGING PARTNER
NO.
OF STAFF : 2
LINES
OF BUSINESS : FOODS AND CONSUMER PRODUCTS
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH GOOD PERFORMANCE
HISTORY
The subject was
established on October
3, 1961 as
a registered ordinary
partnership under the
originally name “A. R. Trading [A.R. Film]” by
Indian groups. On
February 22, 1972,
subject has changed
its name to
be A. R. TRADING
REGISTERED ORDINARY PARTNERSHIP. Its business objective is
to import and
distribute various kinds of
foods and consumer
products to local
market. It currently
employs 2 staff.
The subject’s registered
address is 376/5
Pahurat Rd., Wangburapapirom, Phranakorn, Bangkok 10200,
and this is
the subject’s current
operation address.
AUTHORIZED PERSON
Mr. Harkrishanlal Sachdev
Mr. Rachender Kumar Sachdev
Any of the above partners
can sign on
behalf of the
subject with seal
affixed.
MANAGEMENT
Mr. Harkrishanlal Sachdev is
the Managing Partner.
He is Indian nationality with
the age of
69 years old.
BUSINESS OPERATIONS
The subject is engaged in importing
and distributing various
kinds of foods
and consumer products,
such as coconut
oil, seasoning products,
beans, butter, margarine,
cheese, cocoa, coffee,
chocolate, canned foods
and etc.
PURCHASE
Most of the
products are imported
from India, the
remaining is purchased
from local supplier.
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 credit term
of 30 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
provincial.
REMARK
CREDIT OF US$
1,000,000 D/A SHOULD
BE ON SECURED BASIS.
COMMENT
The subject’s business
has steadily grown
from consumption demand
in domestic market.
Since it has
been in the
business for over
46 years, the
subject has supplied
various foods products which mostly are from
India in order
to served demand
from local consumers. Despite economic slowdown,
its products are
still in strong demand and subject’s
business is expected
to have positive
outlook.
FINANCIAL INFORMATION
The capital was
registered at Bht.3,000,000 which was carried
by 3 persons as followed:
Name Age Amount
Mr. Mr. Harkrishanlal Sachdev [69] Bht. 1,000,000
[Unlimited Partner]
Mr. Rachender Kumar Sachdev [42] Bht.
1,000,000 [Unlimited Partner]
Mr. Varin Sachdev [38] Bht.
1,000,000
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mrs. Wasana Tanmongkol No.
1888
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
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628,093.02 |
599,196.18 |
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Inventories |
5,919,104.00 |
7,376,640.00 |
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Other Current Assets
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1,050,390.75 |
229,426.59 |
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Total Current Assets
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7,597,587.77 |
8,205,262.77 |
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Long Term Loan to
Related Person |
5,000,000.00 |
2,000,000.00 |
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Fixed Assets |
280,830.53 |
351,038.16 |
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Other Assets |
29,300.00 |
29,300.00 |
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Total Assets |
12,907,718.30 |
10,585,600.93 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
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Current
Liabilities |
2006 |
2005 |
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Trade Accts. Payable |
1,149,027.21 |
559,315.77 |
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Other Current Liabilities |
285,857.69 |
210,709.29 |
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Total Current Liabilities |
1,434,884.90 |
770,025.06 |
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Total Liabilities |
1,434,884.90 |
770,025.06 |
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Shareholders' Equity |
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Capital Paid |
3,000,000.00 |
3,000,000.00 |
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Retained Earning -
Unappropriated |
8,472,833.40 |
6,815,575.87 |
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Total Shareholders' Equity |
11,472,833.40 |
9,815,575.87 |
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Total Liabilities & Shareholders' Equity |
12,907,718.30 |
10,585,600.93 |
PROFIT & LOSS ACCOUNT
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Revenue |
2006 |
2005 |
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Sales |
22,074,187.00 |
18,143,186.00 |
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Other Income |
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Gain on Exchange Rate |
79,647.58 |
28,966.16 |
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Interest Income |
112,500.00 |
10,000.00 |
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Total Revenues |
22,266,334.58 |
18,182,152.16 |
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Expenses |
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Cost of Goods
Sold |
19,327,286.89 |
15,782,893.06 |
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Selling & Administrative Expenses |
853,520.94 |
955,666.16 |
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Total Expenses |
20,180,807.83 |
16,738,559.22 |
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Profit / [Loss] Before Income
Tax |
2,085,526.75 |
1,443,592.94 |
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Income Tax |
[428,269.22] |
[310,978.74] |
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Net Profit / [Loss] |
1,657,257.53 |
1,132,614.20 |
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Retained Earning, beginning
of year |
6,815,575.87 |
5,682,961.67 |
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Retained Earning, end
of year |
8,472,833.40 |
6,815,575.87 |
FINANCIAL ANALYSIS
Annual Growth &
Profitability
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Annual Growth |
2006 |
2005 |
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Net Sales |
21.67 |
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Operating Profit |
18.74 |
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Net Profit |
46.32 |
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Fixed Assets |
[20.00] |
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Total Assets |
21.94 |
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Profitability |
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Cost of Good
Sold |
87.56 |
86.99 |
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Operating Profit Margin |
9.45 |
7.96 |
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S & A
Expenses |
3.87 |
5.27 |
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Other Revenues |
0.87 |
0.21 |
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Net Profit Margin |
7.51 |
6.24 |
Net Sales was
increased by 21.67%,
Operating Profit was
increased by 18.74%,
Net Profit was
increased by 46.32%,
Fixed Assets was
decreased by 20.00%,
Total Assets was
increased by 21.94%.
Compare each cost
with sales, Cost of
Good Sold was
increased from 86.99%
to 87.56%, Operating
Profit Margin was
increased from 7.96%
to 9.45%, S
& A Expenses
was decreased from
5.27% to 3.87%,
Other Revenues was
increased from 0.21%
to 0.87%, Net
Profit Margin was
increased from 6.24%
to 7.51%.
Liquidity
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Liquidity |
2006 |
2005 |
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Current Ratio |
5.29 |
10.66 |
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Quick-Assets Ratio |
0.44 |
0.78 |
Current Ratio was
decreased from 10.66
to 5.29, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
good, Quick-Assets Ratio
was decreased from
0.78 to 0.44,
capacity to pay
Short Term Loan
was not good,
because Current Assets
without Inventory can
not cover Current
Liabilities.
Leverage
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Leverage |
2006 |
2005 |
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D/E Ratio |
0.13 |
0.08 |
D/E Ratio was
increased from 0.08
to 0.13, show
the company had
fund from Equity
more than fund
from Loan, investment
risked of the
company is low.
Efficiency
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Efficiency |
2006 |
2005 |
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Fixed Assets Turnover |
78.60 |
51.68 |
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Total Assets Turnover |
1.71 |
1.71 |
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Return on Assets |
12.84 |
10.70 |
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Return on Equity |
14.45 |
11.54 |
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Day's Payable |
18.74 |
11.10 |
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Day’s Inventories |
96.53 |
146.37 |
Fixed Assets Turnover
was increased from
51.68 times to
78.60 times, Total
Assets Turnover was
decreased from 1.71
times to 1.71
times, show the
company could use
Fixed Assets so
efficiently, Return on
Assets was increased
from 10.70 to
12.84, Return on
Equity was increased
from 11.54 to
14.45, capacity to
use Assets to
make profit was
good.
Day's Payable was
increased from 12
days to 19
days, while Day’s
Inventories was decreased
from 147 days
to 97 days.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.37 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.68.08 |
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%)