MIRA
INFORM REPORT
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Report Date : |
14.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL
COFFEE COMPANY LIMITED |
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Registered Office : |
149/376 Moo 9,
Pattaya Plaza Condotel, Sukhumvit Road,
Nongprue, Banglamung,
Pattaya City, Chonburi 20260 |
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Country : |
Thailand |
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Financials (as on) : |
31.08.2005 |
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Date of Incorporation : |
02.09.1998 |
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Com. Reg. No.: |
0205541004452 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer and Distributor of Food and
Beverage 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
ROYAL
COFFEE COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 149/376 MOO 9, PATTAYA
PLAZA CONDOTEL,
SUKHUMVIT ROAD,
NONGPRUE, BANGLAMUNG,
PATTAYA CITY, CHONBURI 20260, THAILAND
TELEPHONE : [66] 38
425-096
FAX
: [66] 38
411-766
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1998
REGISTRATION NO. : 0205541004452
[Former : CHOR. BOR. 6722]
CAPITAL REGISTERED : BHT. 7,000,000
CAPITAL PAID-UP : BHT.
7,000,000
FISCAL YEAR CLOSING DATE : AUGUST 31
LEGAL
STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
RIKO SCHAYKERMAYER, GERMAN
MANAGING DIRECTOR
NO.
OF STAFF : 20
LINES
OF BUSINESS : FOOD
AND BEVERAGE PRODUCTS
MANUFACTURER, IMPORTER
& DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH FAIR PERFORMANCE
HISTORY
The subject was
established on September
2, 1998 as
a private limited
company under the
name style ROYAL COFFEE CO., LTD. by
Thai and German
partners. Ms.
Samniang Promchiangpin, Thai
and Mr. Riko
Schaykermayer, German, who
is the company’s directors
and major shareholders. The subject is engaged in distributing fresh coffee
bean and importing of coffee maker machines and tools from European countries. It currently
employs approximately 20
staff
Recently the subject has expanded its business into import and distribute of wine,
liquor, spirit and
premium food products.
The subject’s registration office was initially
located at 149/377
Moo 9, Nongprue,
Banglamung, Chonburi 20260.
On November 24,
1999 the subject’s registration address was relocated to
149/376 Moo 9, Pattaya Plaza Condotel, Nongprue, Banglamung,
Chonburi 20260, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
Name Nationality Age
Ms. Samniang Pomchiangpin Thai 44
Mr. Riko Schaykermayer German 47
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Riko
Schaykermayer is the
Managing Director.
He is German with the
age of 47 years old.
He has been the Managing
Director since the company’s commencement of
its operation in 1998.
Ms. Samniang Pomchiangpin is
the Sales &
Marketing Manager.
She is Thai nationality with
the age of
44 years old.
BUSINESS OPERATIONS
The subject is
engaged in distributing of high quality coffee bean with
European standard, under
trade name ROYAL
COFFEE.
Raw material mainly
coffee beans are
purchased from coffee
planters in the Northern and
Southern part of
Thailand.
The subject distributes a variety of
Thai food and beverage
products. The products
are purchased from local suppliers. The subject also imports coffee machines
and tools, spirit,
beer, wine and
premium foods from overseas.
Lists of the
products are as
follows:
Products Brand
·
Coffee “ROYAL COFFEE”
- Mocca Coffee
-
Royal de Royal
-
House Coffee
-
Espresso Coffee
·
Coffee Machine “CARIMALI” -
Italy & “BREMER” - Germany
·
Beer [German Beer]
“MAISEL”,“VELTINE”
& “WEIHENSTEPHAN”
·
Wine [White, Red & Rose]
- Austrian Wine Collection “MARILLENSCHAUMWEIN”, “CHAMPAGNE”
“KABERNET”, “ELFENHOF”
& etc.
- Italian Wine Collection “SANTA MADDALENA”,
“PINOT NERO RISERVA”,
“BORDOLINO”, “BONARDE”,
“CHIANTI”, “SOAVE”
& etc.
·
Spirit
- Brandy “URALT”, “KIRSCHWASSER”, “ENZIAN”,
“OBSTWASSER”, “GRAPPA
CABERNET “ & etc.
-
Liqueur “SPITZ”
-
Herbal Liqueur “FERNET”
·
Food Products “FANTASIE CHIOTTE”
PURCHASE
The products such as coffee
bean, tea and
natural herbal are
purchased from local
planters and suppliers,
while coffee machine
and tools, spirits,
beers, wines and
premium foods are
imported from overseas.
Some countries the
subject imported are Italy,
Germany, Australia, United
Kingdom and Spain.
MAJOR SUPPLIERS
Raming Tea Co., Ltd.,
Thailand
Richar Import and
export Co., Ltd.,
Thailand
SALES
The products are
sold locally to
wholesalers, dealers and
end-users. The subject
has around 20-25
customers nationwide.
Its business transactions
The
subject usually grants 30 days credit term for its regular local
clients. The Letter of Credit and T/T
are required from the subject’s oversea suppliers.
MAJOR CUSTOMERS
- Black Forest Distribution Co., Ltd.
- Update Co., Ltd.
- Petchboonma Co., Ltd.
- Diana Group
- Kasemkit Co., Ltd.
- Decouverte [Thailand] Co., Ltd.
- 13 Coins Tower
Co., Ltd.
- Nova Lodge 1994
Co., Ltd.
- Gibus Food Service
Co., Ltd.
- Horeca Supply Co., Ltd.
- Open Progress Unity
Co., Ltd.
- Golden Paradise Hotel
Co., Ltd.
- Yuthaporn Development Co., Ltd.
- Jomthien Garden Hotel
- Rim Pae Development
- Grand Sole Hotel
etc.
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.
SUBSIDIATY AND AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
nor affiliated company
here in Thailand.
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 on
negotiated term or
T/T on negotiated term.
BUSINESS TRANSACTION
The products are
sold to customers
both cash and
credit, with the maximum credit
given at 30-60 days. The
subject is not
found to have
problem on its
account receivable.
BANKING
The Siam
Commercial Bank Public
Co., Ltd.
[Head Office : 9 Ratchadapisek Rd., Ladyao, Jatujak,
Bangkok 10900]
Bangkok Bank
Public Co., Ltd.
[Head Office : 333
Silom Rd., Silom,
Bangrak, Bangkok 10500]
EMPLOYMENT
The subject employs
approximately 20 staff
[office and sales
staff].
LOCATION DETAILS
The premise is
rented for administrative and sale office at
the heading address.
The premise is
located in the city of
Pattaya, Chonburi Province.
Branch Office : The
subject rents its
Bangkok branch office in a multi-storey building on
12th Floor, Unit 1205,
Q-House, 66 Sukhumvit
21 Rd., Klongtoey
Nua, Wattana, Bangkok
10110.
The subject’s
warehouse is located at 13/1
Moo 1, Najomthien, Sattaheep,
Chonburi 20250.
COMMENT
Market of premium
coffee has spurred drastically
during this few
years because of
heavy consumption of
brew coffee by
local consumers. Premium
foods have also
strong consumption from
changing of consumer
behavior by local
medium to high
income segment.
FINANCIAL INFORMATION
The capital was
registered at Bht.
4,000,000 divided into
8,000 shares of
Bht. 500 each.
The capital was
increased later as
follows:
Bht. 6,000,000 on December
15, 1998
Bht. 7,000,000
on September 11,
2001
The latest registered
capital was increased
to Bht. 7,000,000
divided into 14,000
shares of Bht.
500 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[as
at February 12,
2007]
|
NAME |
HOLDING |
% |
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Ms. Samniang
Pomchiangpin Nationality: Thai Address : 135/6
Moo 10, Nongprue,
Bangplamuang,
Chonburi 20260 |
6,000 |
42.86 |
|
Ms. Anna Maria Sandra Nationality: Thai Address : 135/6
Moo 10, Nongprue, Banglamung,
Cholburi 20260 |
5,720 |
40.86 |
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Mr. Riko
Schaykermayer Nationality: German Address : 6
Wiltham Rd., Stein,
Germany |
1,880 |
13.44 |
Mrs. Thongmuan Poolperm
Nationality: Thai Address : 386/82
Moo 9, Nongprue, Banglamung,
Cholburi 20260 |
100 |
0.71 |
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Mr.
Thongpoon Kangromklang Nationality: Thai Address : 202/13
Moo 9, Nongprue, Banglamung, Cholburi
20260 |
100 |
0.71 |
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Mr. Prinya
Pomchiangpin Nationality: Thai Address : 93/23
Srichumchuen Rd., Makkhaeng,
Muang, Udornthani 41000
|
100 |
0.71 |
|
Mrs. Praneet
Klaewklang Nationality: Thai Address : 50 Moo 17, Kookart, Kong,
Nakornratchasima 30260 |
100 |
0.71 |
Total Shareholders : 7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Kiat Korkiat
No. 1959
BALANCE SHEET [BAHT]
The
2006 financial statement
was not submitted
to the Commercial Registration Department
during the investigation.
The
latest financial figures
published for August
31, 2005 & 2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
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Cash in hand
& at Bank |
409,859.31 |
47,081.19 |
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Trade Accts. Receivable |
1,162,928.59 |
1,936,984.14 |
|
Inventories |
659,509.53 |
1,272,407.25 |
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Other Current Assets
|
279,917.00 |
178,667.00 |
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Total Current
Assets |
2,512,214.43 |
3,435,139.58 |
|
Long Term Loan to Directors |
8,100,000.00 |
4,100,000.00 |
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Fixed Assets |
1,645,060.12 |
2,017,147.27 |
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Other Assets |
17,531.01 |
17,531.01 |
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Total Assets |
12,274,805.56 |
9,569,817.86 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2005 |
2004 |
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Bank Overdraft |
2,484,292.64 |
827,286.18 |
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Trade Accts. Payable |
18,725.00 |
- |
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Current Portion of
Long Term Liabilities |
217,435.44 |
108,717.72 |
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Accrued Income Tax |
248,946.22 |
137,488.14 |
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Other Current Liabilities |
77,347.93 |
161,416.66 |
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Total Current
Liabilities |
3,046,747.23 |
1,234,908.70 |
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Hire-Purchase Payable |
126,837.34 |
434,870.88 |
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Long Term Loans |
1,988,561.76 |
857,699.76 |
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Total Liabilities |
5,162,146.33 |
2,527,479.34 |
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Shareholders'
Equity |
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Share capital : Baht 500 value authorized, issued
and fully paid share
capital 14,000 shares |
7,000,000.00 |
7,000,000.00 |
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Capital Paid |
7,000,000.00 |
7,000,000.00 |
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Retained Earning -
Unappropriated |
112,659.23 |
42,338.52 |
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Total
Shareholders' Equity |
7,112,659.23 |
7,042,338.52 |
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Total
Liabilities & Shareholders' Equity |
12,274,805.56 |
9,569,817.86 |
PROFIT & LOSS ACCOUNT
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Revenue |
2005 |
2004 |
|
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Sales |
31,370,923.96 |
28,550,604.43 |
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Interest Income |
101,250.00 |
82,000.00 |
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Other Income |
97,199.99 |
- |
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Total Revenues
|
31,569,373.95 |
28,632,604.43 |
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Expenses |
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Cost of Goods
Sold |
27,225,501.03 |
23,027,868.47 |
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Selling & Administrative Expenses |
3,953,934.07 |
6,515,472.03 |
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Total Expenses |
31,179,435.10 |
29,543,340.50 |
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Profit from Operation
|
389,938.85 |
[910,736.07] |
|
Interest Expenses |
[191,460.53] |
[136,125.65] |
|
Income Tax |
[128,157.61] |
[105,788.61] |
|
Net Profit / [Loss] |
70,320.71 |
[1,152,650.33] |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.82 |
|
UK Pound |
1 |
Rs.84.89 |
|
Euro |
1 |
Rs.68.07 |
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 |
|
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%)