MIRA
INFORM REPORT
|
Report Date : |
05.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALPA CREATIONS CO., LTD |
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Registered Office : |
1040/19
Sukhumvit Road, Phrakanong, Klongtoey, Bangkok
10110 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
11.04. 2000 |
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Com. Reg. No.: |
0105543035925 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Exporter of Fabric and
related products |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
ALPA CREATIONS CO., LTD.
SUMMARY
BUSINESS ADDRESS : 1040/19 SUKHUMVIT ROAD, PHRAKANONG,
KLONGTOEY, BANGKOK
10110
TELEPHONE : [66]
2712-4306
FAX : [66] 2718-4308
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2000
REGISTRATION NO.
: 0105543035925
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. LALIT KISHORE, INDIAN
MANAGING DIRECTOR
NO. OF
STAFF : 6
LINES OF
BUSINESS : FABRIC AND RELATED PRODUCTS
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 April 11,
2000 as a
private limited company under the name style ALPA
CREATIONS CO., LTD.,
by Thai and
Indian groups, with
the business objective
to trade wide
range of fabric
and related products
to consumer both
domestic and international markets. It currently
employs 6 staff.
The
subject’s registered address
is 1040/19 Sukhumvit
Rd., Prakanong, Klongtoey,
Bangkok 10110, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
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|
|
|
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Mr. Lalit Kishore |
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Indian |
48 |
|
Mrs. Priyadarshinie Anamika |
|
Indian |
46 |
AUTHORIZED PERSON
One of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Lalit Kishore is
the Managing Director.
He is Indian nationality with
the age of
48 years old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
supplying and exporting
wide range of
fabric and related
products, such as
wool, cotton, net
embroidery, lace, garment
and textile home
furnishing.
PURCHASE
The products are
purchased from supplier
both in domestic
and international, mainly
India and Republic
of China.
SALES
The products are
sold locally by
wholesale to traders
and end-users.
EXPORT
The products are
exported to India,
Republic of China,
Middle East, Africa
and European countries.
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
L/C at sight or T/T.
Exports are against
T/T.
BANKING
The banker’s name
was not disclosed.
EMPLOYMENT
The
subject employs 6
staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading address. Premise
is located in
commercial/residential area.
COMMENT
The
subject was formed
in 2000 as
an importer and
exporter of fabric
and related products.
The products are
for consumer market,
which is currently
has slow consumption. Market slowdown would
affect company in
short to medium term
prospect.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000 divided
into 20,000 shares of
Bht. 100 each.
The
capital was increased
later as following:
Bht. 3,000,000 on December 17,
2001
Bht. 4,000,000 on January 15,
2004
The
latest registered 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, 2008]
|
NAME |
HOLDING |
% |
|
|
|
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Ms. Krongthong Boonmee Nationality: Thai Address : 754/174
Sukhumvit 101 Rd.,
Bangchak, Prakanong, Bangkok |
24,396 |
60.99 |
|
Mr. Lalit Kishore Nationality: Indian Address : 55
Sukhumvit 59 Rd.,
Klongtoey, Bangkok |
7,800 |
19.50 |
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Mrs. Preeyadarshinie Anamika Nationality: Indian Address : 55
Sukhumvit 59 Rd.,
Klongtoey, Bangkok |
7,800 |
19.50 |
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Ms. Amporn Phantasarn Nationality: Thai Address : 40
Moo 8, Gudkwang,
Nongrua, Khon Kaen |
1 |
|
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Ms. Puangmanao Nitaya Nationality: Thai Address : 90
Moo 6, Yangseesuraj, Mahasarakham |
1 |
= 0.01 |
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Ms. Ladda Wongsuwan Nationality: Thai Address : 7
Moo 10, Pakian,
Muang, Buriram |
1 |
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Mrs. Permpool Krainai Nationality: Thai Address : 99/146
Moo 9, Ramindra
Rd., Tharaeng,
Prakanong, Bangkok |
1 |
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Total Shareholders :
7
NAME OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Peera Prakobphol No. 4311
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2007 &
2006 were:
ASSETS
|
Current Assets |
2007 |
2006 |
|
|
|
|
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Cash in hand
& at Bank
|
1,062,499.17 |
61,333.27 |
|
Inventories |
273,576.57 |
101,197.87 |
|
Other Current Assets
|
117,496.10 |
457,822.44 |
|
Total Current Assets
|
1,453,571.84 |
620,353.58 |
|
|
|
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Loan to Related Person |
3,800,000.00 |
4,000,000.00 |
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Fixed Assets |
63,599.23 |
56,660.82 |
|
Other Assets |
90,000.00 |
90,000.00 |
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Total Assets |
5,407,171.07 |
4,767,014.40 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2007 |
2006 |
|
|
|
|
|
Trade Accts. & Notes Payable |
1,607,884.92 |
1,202,893.08 |
|
Accrued Income Tax |
33,001.13 |
12,375.48 |
|
Other Current Liabilities |
33,182.90 |
27,604.26 |
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Total Current Liabilities |
1,674,068.95 |
1,242,872.82 |
|
Total Liabilities |
1,674,068.95 |
1,242,872.82 |
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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 |
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
|
Less: Receivable Share |
1,250,000.00 |
1,250,000.00 |
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|
2,750,000.00 |
2,750,000.00 |
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Retained Earning -
Unappropriated |
983,102.12 |
774,141.58 |
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Total Shareholders' Equity |
3,733,102.12 |
3,524,141.58 |
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Total Liabilities &
Shareholders' Equity |
5,407,171.07 |
4,767,014.40 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2007 |
2006 |
|
|
|
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Sales Income |
16,631,982.91 |
18,315,573.98 |
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Other Income |
152,627.81 |
1,297,602.53 |
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Total Revenues |
16,784,610.72 |
19,613,176.51 |
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Expenses |
|
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Cost of Goods
Sold |
13,914,817.90 |
17,641,317.92 |
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Selling & Administrative Expenses |
2,620,661.66 |
1,677,802.82 |
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Other Expenses |
- |
165,118.87 |
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Total Expenses |
16,535,479.56 |
19,484,239.61 |
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Profit / [Loss] Before Income Tax |
249,131.16 |
128,936.90 |
|
Income Tax |
[40,170.62] |
[19,789.52] |
|
Net Profit / [Loss] |
208,960.54 |
109,147.38 |
FINANCIAL ANALYSIS
Annual Growth &
Profitability
|
Annual Growth |
2007 |
2006 |
|
Net Sales |
[9.19] |
|
|
Operating Profit |
[6.70] |
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Net Profit |
91.45 |
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|
Fixed Assets |
12.25 |
|
|
Total Assets |
13.43 |
|
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Profitability |
|
|
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Cost of Good
Sold |
83.66 |
96.32 |
|
Operating Profit Margin |
1.50 |
1.61 |
|
S & A Expenses |
15.76 |
9.16 |
|
Other Revenues |
0.92 |
7.08 |
|
Net Profit Margin |
1.26 |
0.60 |
|
Earning Per Shares |
5.22 |
2.73 |
|
No. of Shares |
40,000 |
40,000 |
Net Sales was
decreased by 9.19%,
Operating Profit was
decreased by 6.70%,
Net Profit was
increased by 91.45%,
Fixed Assets was
increased by 12.25%,
Total Assets was
increased by 13.43%.
Compare each cost
with sales, Cost of
Good Sold was
decreased from 96.32%
to 83.66%, Operating
Profit Margin was
decreased from 1.61%
to 1.50%, S
& A Expenses
was increased from
9.16% to 15.76%,
Other Revenues was
decreased from 7.08%
to 0.92%, Net
Profit Margin was
increased from 0.60%
to 1.26%.
Earning Per Shares
was increased from
2.73 baht per
share to 5.22
baht per share.
Liquidity
|
Liquidity |
2007 |
2006 |
|
Current Ratio |
0.87 |
0.50 |
|
Quick-Assets Ratio |
0.63 |
0.05 |
Current Ratio was
increased from 0.50
to 0.87, show
Current Assets can
not cover Current
Liabilities, Liquidity Ratio
of the company was not
good, Quick-Assets Ratio
was increased from
0.05 to 0.63,
capacity to pay
Short Term Loan
was not good
too, because Current
Assets without Inventory
can not cover
Current Liabilities.
Leverage
|
Leverage |
2007 |
2006 |
|
D/E Ratio |
0.45 |
0.35 |
D/E Ratio was
increased from 0.35
to 0.45, show the company had
fund from Equity
more than fund
from Loan, investment
risked of the
company is low.
Efficiency
|
Efficiency |
2007 |
2006 |
|
Fixed Assets Turnover |
261.51 |
323.25 |
|
Total Assets Turnover |
3.08 |
3.84 |
|
Return on Assets |
3.86 |
2.29 |
|
Return on Equity |
5.60 |
3.10 |
|
Day's Payable |
34.80 |
23.64 |
|
Day’s Inventories |
5.92 |
1.99 |
Fixed Assets Turnover
was decreased from
323.25 times to 261.51 times,
Total Assets Turnover
was decreased from
3.84 times to
3.08 times, show
the company could
not use Assets
so efficiently, Return
on Assets was
increased from 2.29
to 3.86, Return
on Equity was
increased from 3.10
to 5.60, capacity
to use Assets to make
profit was good.
Day's Payable was
increased from 24
days to 35
days, and Day’s
Inventories was increased
from 2 days to 6
days.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.37 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.63.41 |
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%)