MIRA
INFORM REPORT
|
Report Date : |
21.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AMI IMPEX [THAILAND] CO.,LTD. |
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Registered Office : |
21st Floor,
ITF Silom Palace
Building, 160/466 Silom Road,
Suriyawongse, Bangrak, Bangkok
10500 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
March 20, 2000
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Com. Reg. No.: |
0105543027809 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Diamonds and
Gemstones |
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
AMI IMPEX [THAILAND] CO.,LTD.
SUMMARY
BUSINESS
ADDRESS : 21st FLOOR, ITF
SILOM PALACE BUILDING,
160/466 SILOM
ROAD, SURIYAWONGSE,
BANGRAK, BANGKOK
10500
TELEPHONE : [66] 2634-2739
FAX : [66] 2634-2734
E-MAIL
ADDRESS : mafatami@yahoo.co.in
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2000
REGISTRATION NO. : 0105543027809
[Former : 417/2543]
CAPITAL REGISTERED : BHT. 4,000,000
CAPITAL PAID-UP : BHT. 4,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. PRAJAPATI MAFATLAL
NARSHINGBHAI, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 4
LINES
OF BUSINESS : DIAMONDS AND GEMSTONES
IMPORTER 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 March 20,
2000 as a
private limited company under the name style
AMI IMPEX [THAILAND]
CO., LTD., by
Indian group, to operate
in diamond and gemstones trading
business. It currently
employs 4 staff.
The
subject’s registered address
is 21st Flr.,
ITF Silom Palace
Bldg., 160/466 Silom
Rd., Suriyawongse, Bangrak,
Bangkok 10500, and this
is the subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
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Mr. Prajapati Mafatlal Narshingbhai |
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Indian |
42 |
|
Mr. Ritesh Shailesh Shah |
|
Indian |
26 |
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Prajapati Mafatlal
Narshingbhai is the
Managing Director.
He is Indian nationality with
the age of
42 years old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing and exporting
various kinds of
diamonds and gemstone
products.
IMPORT
The
products are imported
from India, Belgian
and Hong Kong.
SALES
The products are
sold locally by
wholesale to traders
and manufacturers.
EXPORT
The products are
exported to Japan
and Hong Kong.
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.
Imports are by
L/C at sight or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank
Public Co., Ltd.
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok]
EMPLOYMENT
The
subject employs 4
staff
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading address. Premise
is located in prime commercial
area.
COMMENT
The
subject’s sales revenue
in 2006 was
considered satisfactory comparing
to the previous year, with
an increase in
both sales revenue and
net profit. However,
this year, the subject might
have an impact
from various factors
which are unfavourable to the business
such as higher
fuel price, high
cost of goods
sold, high inflation
and etc. Due
to this, its
business is estimated
to grow slowly
than the previous year.
FINANCIAL INFORMATION
The
capital was initially
registered at Bht.
2,000,000 divided into
20,000 shares of
Bht. 100 each.
On
January 15, 2004,
the capital was
increased to Bht. 4,000,000 divided into 40,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE
[as
at April 30,
2007]
|
NAME |
HOLDING |
% |
|
|
|
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Mr.
Prajapati Mafatlal Narshingbhai Nationality: Indian Address : 160/465
Silom Rd., Suriyawongse,
Bangrak, Bangkok |
12,000 |
30.00 |
|
Mr. Ritesh Shailesh
Shah Nationality: Indian Address : 160/465 Silom
Rd., Suriyawongse,
Bangrak, Bangkok |
7,600 |
19.00 |
|
Ms. Charida Voraviset Nationality: Thai Address : 55
Moo 1, Parai,
Dontal, Mukdaharn |
4,400 |
11.00 |
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Ms. Kularb Sermsong Nationality: Thai Address : 9
Moo 2, Aoobmung,
Nongwuasor, Udornthani |
4,000 |
10.00 |
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Ms. Anurak Srisura Nationality: Thai Address : 40
Srawanphraya, Kornburi,
Nakornratchasima |
4,000 |
10.00 |
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Mr.
Sukkasem Keawdara Nationality: Thai Address : 55
Moo 2, Bangprom,
Talingchan, Bangkok |
4,000 |
10.00 |
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Ms.
Sakulporn Na Lampang Nationality: Thai Address : 348/1
Moo 11, Bantom,
Muang, Payao |
4,000 |
10.00 |
Total Shareholders : 7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Kamol Pikulsawasdi No.
7184
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
|
136,388.00 |
226,459.53 |
|
Trade Accts. Receivable |
17,340,107.69 |
19,654,630.86 |
|
Inventories |
12,898,200.23 |
11,333,402.19 |
|
Other Current Assets
|
558.30 |
- |
|
Total Current
Assets |
30,375,254.22 |
31,214,492.58 |
|
|
|
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Fixed Assets |
71,296.70 |
25,090.72 |
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Total Assets |
30,446,550.92 |
31,239,583.30 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2006 |
2005 |
|
|
|
|
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Trade Accts. Payable |
13,774,031.94 |
16,470,859.86 |
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Other Current Liabilities |
187,299.34 |
42,845.22 |
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Total Current
Liabilities |
13,961,331.28 |
16,513,705.08 |
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|
|
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Loan from Related
Person |
11,131,460.48 |
6,870,460.48 |
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Total Liabilities |
25,092,791.76 |
26,384,165.56 |
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Shareholders'
Equity |
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Share capital : Baht 100 value authorized, issued
and fully paid share
capital 40,000 shares |
4,000,000.00 |
4,000,000.00 |
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Capital Paid |
4,000,000.00 |
4,000,000.00 |
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Retained Earning -
Unappropriated |
1,353,759.16 |
855,417.74 |
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Total
Shareholders' Equity |
5,353,759.16 |
4,855,417.74 |
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Total
Liabilities & Shareholders' Equity |
30,446,550.92 |
31,239,583.30 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2006 |
2005 |
|
|
|
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Sales-Local |
14,890,522.44 |
14,814,546.96 |
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Sales-Foreign |
1,831,037.48 |
2,264,163.88 |
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Value Added Tax Income
|
3,046,631.42 |
7,440,873.87 |
|
Gain on Exchange Rate |
429,782.49 |
- |
|
Other Income |
- |
91,106.78 |
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Total Revenues
|
20,197,973.83 |
24,610,691.49 |
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Expenses |
|
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Cost of Goods
Sold |
18,475,835.67 |
22,954,204.84 |
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Selling & Administrative Expenses |
1,180,624.90 |
1,523,819.06 |
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Total Expenses |
19,656,460.57 |
24,478,023.90 |
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Profit / [Loss] Before Income Tax |
541,513.26 |
132,667.59 |
|
Income Tax |
[43,171.84] |
- |
|
Net Profit / [Loss] |
498,341.42 |
132,667.59 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
|
Annual Growth |
2006 |
2005 |
|
Net Sales |
[2.09] |
|
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Operating Profit |
316.89 |
|
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Net Profit |
275.63 |
|
|
Fixed Assets |
184.16 |
|
|
Total Assets |
[2.54] |
|
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Profitability |
|
|
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Cost of Good Sold |
110.49 |
134.40 |
|
Operating Profit Margin |
3.24 |
0.78 |
|
S & A
Expenses |
7.06 |
8.92 |
|
Other Revenues |
20.79 |
44.10 |
|
Net Profit Margin |
2.98 |
0.78 |
|
Earning Per Shares |
12.46 |
3.32 |
|
No. of Shares |
40,000 |
40,000 |
Net Sales was
decreased by 2.09%,
Operating Profit was
increased by 316.89%,
Net Profit was
increased by 275.63%,
Fixed Assets was
increased by 184.16%,
Total Assets was
decreased by 2.54%.
Compare each cost
with sales, Cost of
Good Sold was
decreased from 134.40%
to 110.49%, Operating
Profit Margin was
increased from 0.78%
to 3.24%, S
& A Expenses
was decreased from
8.92% to 7.06%,
Other Revenues was
decreased from 44.10%
to 20.79%, Net
Profit Margin was
increased from 0.78%
to 2.98%.
Earning Per Shares
was increased from
3.32 baht per
share to 12.46
baht per share.
Liquidity
|
Liquidity |
2006 |
2005 |
|
Current Ratio |
2.18 |
1.89 |
|
Quick-Assets Ratio |
1.25 |
1.20 |
Current Ratio was
increased from 1.89
to 2.18, show
Current Assets can
cover Current Liabilities, Liquidity Ratio of
the company was
so good, Quick-Assets Ratio was increased
from 1.20 to
1.25, capacity to
pay Short Term
Loan was so
good too, because
Current Assets without
Inventory can cover
Current Liabilities.
Leverage
|
Leverage |
2006 |
2005 |
|
D/E Ratio |
4.69 |
5.43 |
D/E Ratio was
decreased from 5.43
to 4.69, show
the company had
fund from Loan
more than fund
from Equity, investment
risked of the
company is high.
Efficiency
|
Efficiency |
2006 |
2005 |
|
Fixed Assets Turnover |
234.53 |
680.68 |
|
Total Assets Turnover |
0.55 |
0.55 |
|
Return on Assets |
1.64 |
0.42 |
|
Return on Equity |
9.31 |
2.73 |
|
Day's Payable |
296.54 |
347.19 |
|
Day’s Inventories |
277.69 |
238.90 |
|
Day’s Receivables |
373.32 |
414.30 |
Fixed Assets Turnover
was decreased from
680.68 times to
234.53 times, Total
Assets Turnover was
increased from 0.55
times to 0.55
times, show the
company could use
Assets so efficiently, Return on Assets
was increased from
0.42 to 1.64,
Return on Equity
was increased from
2.73 to 9.31,
capacity to use
Assets to make
profit was good.
Day's Payable was
decreased from 348
days to 297
days, while Day’s
Inventories was increased
from 239 days
to 278 days, but Day’s
Receivables was decreased
from 415 days
to 374 days.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.33 |
|
UK Pound |
1 |
Rs.84.32 |
|
Euro |
1 |
Rs.66.75 |
RATING
EXPLANATIONS
|
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 |
|
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%)