MIRA
INFORM REPORT
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Report Date : |
12.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
PARTY
DIAM [THAI] CO.,
LTD. |
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Registered Office : |
24th Floor, Itf-Silom
Palace, 160/566 Silom
Road, Silom, 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 : |
14.06. 2006 |
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Com. Reg. No.: |
0105549071133 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer, Distributor and
Exporter of Jewelry products |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
PARTY
DIAM [THAI] CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 24th FLOOR,
ITF-SILOM PALACE,
160/566 SILOM
ROAD, SILOM,
BANGRAK, BANGKOK
10500
TELEPHONE : [66] 2237-6581
FAX : [66] 2237-6581
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2006
REGISTRATION NO. : 0105549071133
CAPITAL REGISTERED : BHT. 6,000,000
CAPITAL PAID-UP : BHT. 6,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. ANIL GANEESHBHAI
MANGUKIA, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 5
LINES
OF BUSINESS : JEWELRY PRODUCTS
IMPORTER, DISTRIBUTOR
AND EXPORTER
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 June 14,
2006 as a
private limited company under the name style
PARTY DIAM [THAI]
CO., LTD., by Thai
and Indian groups,
with the objective
to engage in
jewelry trading business.
It currently employs
5 staff.
The
subject’s registered address
is at 160/566 ITF-Silom
Palace, Silom Rd., Bangrak, Bangkok,
Bangkok 1 0500, and this
is the subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
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Nationality |
Age |
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Mr. Anil Ganeeshbhai Mangukia |
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Indian |
21 |
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Mr. Hardik Vallabhbhai Kakadiya |
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Indian |
21 |
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Anil Ganeeshbhai
Mangukia is the Managing Director.
He is Indian nationality with
the age of
21 years old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing and exporting
wide range of
diamond and jewelry
products, according to
customer’s requirement.
PURCHASE
The products are
purchased from both
domestic and overseas
suppliers mainly in
India.
SALES
The products are
sold by wholesale
to traders and manufacturers both locally and
overseas mainly in
Asia and Europe.
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 T/T.
Exports are against
T/T.
BANKING
The banker’s name
was not disclosed.
EMPLOYMENT
The
subject employs 5
staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading address. Premise
is located in
prime commercial area.
COMMENT
The subject
obtained a net
loss in the
first year of
its operation due
to it is the new
player in the market.
However, with good
customer base and
effective marketing strategy,
its business is
promising.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000 shares of Bht. 100
each with fully
paid.
On
September 25, 2007
the capital was
increased to Bht.
6,000,000 divided into
60,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
[as
at September 24,
2007]
|
NAME |
HOLDING |
% |
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Mr. Anil Ganeeshbhai Mangukia Nationality: Indian Address : 160/566
Silom Rd., Silom,
Bangrak, Bangkok |
20,000 |
33.33 |
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Mr. Kirit Kumar
Hiralas Italiya Nationality: Indian
Address : 160/566
Silom Rd., Silom,
Bangrak, Bangkok |
9,400 |
15.67 |
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Mr. Pipop Savisith Nationality: Thai Address : 84
Krungkasem Rd., Klongmahanark,
Pomprab, Bangkok |
6,600 |
11.00 |
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Ms. Sombul Chaengnil Nationality: Thai Address : 1/11
Moo 5, Lamlukka,
Pathumthani |
6,000 |
10.00 |
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Mr. Manus Oreephap Nationality: Thai Address : 84
Krungkasem Rd., Klongmahanark,
Pomprab, Bangkok |
6,000 |
10.00 |
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Mr. Viboon Upachewa Nationality: Thai Address : 10
Moo 7, Mengrai,
Phyamengrai, Chiangrai |
6,000 |
10.00 |
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Mr. Santi Seechalad Nationality: Thai Address : 86
Krungkasem Rd., Klongmahanark,
Pomprab, Bangkok |
6,000 |
10.00 |
Total Shareholders : 7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT NO.
Ms. Dara Parksuchon No.
1312
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2006 was:
ASSETS
|
Current Assets |
2006 |
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Cash in Hand
& at Bank |
198,768.80 |
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Trade Accts. Receivable |
617,420.42 |
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Short-term Loan to
Related Person |
500,000.00 |
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Inventories |
794,916.94 |
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Other Current Assets
|
61,921.16 |
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Total Current
Assets |
2,173,027.32 |
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Total Assets |
2,173,027.32 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2006 |
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Trade Accts. Payable |
455,567.51 |
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Other Current Liabilities |
7,668.02 |
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Total Current
Liabilities |
463,235.53 |
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Total Liabilities |
463,235.53 |
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Shareholders'
Equity |
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Share capital : Baht 100 par value
authorized, issued
& fully paid share capital
20,000 shares |
2,000,000.00 |
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Capital Paid |
2,000,000.00 |
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Retained Earning -
Unappropriated |
[290,208.21] |
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Total
Shareholders' Equity |
1,709,791.79 |
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Total
Liabilities & Shareholders' Equity |
2,173,027.32 |
PROFIT & LOSS ACCOUNT
|
Revenue |
June 14, 2006 – Dec. 31, 2006 |
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Sales |
796,837.15 |
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Other Income |
47,137.37 |
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Total Revenues
|
843,974.52 |
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Expenses |
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Cost of Goods
Sold |
715,610.44 |
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Selling & Administrative Expenses |
418,572.29 |
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Total Expenses |
1,134,182.73 |
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Net Profit / [Loss] |
[290,208.21] |
FINANCIAL ANALYSIS
Profitability
|
Profitability |
2006 |
|
Cost of Good
Sold |
89.81 |
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Operating Profit Margin |
[36.42] |
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S & A
Expenses |
52.53 |
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Other Revenues |
5.92 |
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Net Profit Margin |
[36.42] |
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Earning Per Shares |
[14.51] |
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No. of Shares |
20,000 |
Compare each cost
with sales, Cost of
Good Sold was
89.81%, Operating Profit
Margin was -36.42%,
S & A
Expenses was 52.53%,
Other Revenues was
5.92%, Net Profit
Margin was -36.42%.
Earning Per Shares
was -14.51 baht
per share.
Liquidity
|
Liquidity |
2006 |
|
Current Ratio |
4.69 |
|
Quick-Assets Ratio |
2.84 |
Current Ratio was
4.69, show Current
Assets can cover
Current Liabilities, Liquidity
Ratio of the
company was good,
Quick-Assets Ratio was
2.84, capacity to
pay Short Term
Loan was good
too, because Current
Assets without Inventory
can cover Current Liabilities.
Leverage
|
Leverage |
2006 |
|
D/E Ratio |
0.27 |
D/E Ratio was
increased from 0.00
to 0.27, show
the company had
fund from Equity
more than fund
from Loan, investment
risked of the
company is low.
Efficiency
|
Efficiency |
2006 |
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Total Assets Turnover |
0.37 |
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Return on Assets |
[13.36] |
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Return on Equity |
[16.97] |
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Day's Payable |
205.82 |
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Day’s Inventories |
359.13 |
|
Day’s Receivables |
278.94 |
Total Assets Turnover
was 0.37 times,
show the company
could use Assets
so efficiently, Return
on Assets was
-13.36, Return on
Equity was -16.97,
capacity to use
Assets to make
profit was not
good.
Day's Payable was
206 days, Day’s
Inventories was 360
days, and Day’s
Receivables was 279
days.
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%)