MIRA INFORM REPORT
|
Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALLIED
METALS [THAILAND] CO.,
LTD. |
|
|
|
|
Registered Office : |
2409/5-9 Petchburi
Road, Bangkapi, Huaykwang, Bangkok
10310 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
13.12.1971 |
|
|
|
|
Com. Reg. No.: |
0105514007510 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer,
Distributor, Exporter and
Service Provider of Stainless Steel
Commercial Kitchen Equipment
and Supplies |
|
|
|
|
No. of Employees
: |
200 |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Thailand |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
ALLIED METALS
[THAILAND] CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 2409/5-9 PETCHBURI
ROAD, BANGKAPI,
HUAYKWANG, BANGKOK
10310
TELEPHONE : [66] 2318-0965-8,
2318-5417
FAX :
[66] 2318-0969
E-MAIL
ADDRESS : info@alliedmetals.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1971
REGISTRATION
NO. : 0105514007510 [Former :
759/2514]
CAPITAL REGISTERED : BHT. 35,000,000
CAPITAL PAID-UP : BHT.
35,000,000
SHAREHOLDER’S PROPORTION : THAI : 100.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MS. PRIM JITCHAROONGPHORN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 200
LINES
OF BUSINESS : STAINLESS STEEL
COMMERCIAL KITCHEN
EQUIPMENT AND SUPPLIES
IMPORTER,
DISTRIBUTOR, EXPORTER AND
SERVICE PROVIDER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on December 13,
1971 as a
private limited company
under the name
style ALLIED METALS [THAILAND]
CO., LTD., by
Thai groups, with
the business objective to provide wide range of stainless steel commercial
kitchen including services to both
domestic and international markets. It
currently employs
approximate 200 staff.
The
subject’s registered address
is 2409/5-9 New Petchburi Rd.,
Bangkapi, Huaykwang, Bangkok
10310, and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Sutiluck Jitcharoongphorn |
[x] |
Thai |
69 |
|
Mr. Chatree Asawabenya |
|
Thai |
46 |
|
Mr. Kasem Asawabenya |
|
Thai |
44 |
|
Ms. Prim Jitcharoongphorn |
[x] |
Thai |
47 |
|
Mr. Suthee Jitcharoongphorn |
[x] |
Thai |
77 |
|
Mr. Suwat Asawabenya |
|
Thai |
70 |
|
Mrs. Tassanee Rawdboonpa |
|
Thai |
54 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Ms. Prim Jitcharoongphorn is
the Managing Director.
She is Thai
nationality with the
age of 47
years old.
Ms. Sutiluck Jitcharoongphorn is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 69
years old.
Mr. Natchapol Patcharamaneepakorn is
the Finance &
Accounting Director.
He is Thai
nationality.
Mr. Chayut Khamsombat is
the Director of
Human Resources.
He is Thai
nationality.
Mr. Atikom Jitcharoongphorn is
the Director of
Operation.
He is Thai
nationality.
Mr. Hunter Reynolds is
the Director of
Sales.
He is American
nationality.
Ms. Nalin Jitcharoongphorn is
the Director of Corporate
Development.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing of
professional kitchens and
kitchen infrastructure e.g.
catering solutions for in-flight kitchens, institutional
kitchens (hospitals and schools), hotels, restaurants, quick service restaurant,
convenience stores and etc. The
products are Combination oven,
Post-mix Countertop Juice Dispenser, Nugget Counter Top Ice Machine, Blender,
Stainless Steel Equipment such as Sink Bench & Upstand, Stackable
Gastronorm Rack, Trolley, Dishwash Outlet Bench
including design,
fabrication, consulting and
maintenance.
MAJOR BRANDS
ALTO SHAAN, BEECH OVENS,
BIZERBA, BLENDTEC, BONNET,
ELOMA, ELRO, FRIGOMAT,
GRINDMASTER, HALTON, INDUCS,
DLIS, PIZZAMASTER, ENOFRIGO,
HALLDE, KOLB, PRECISE,
REVENT, ROLLMATIC, SALVA,
SANTOS, UNIVEX, VPT,
WILLIAMS and etc.
IMPORT
90% of
the products is imported from
U.S.A., Sweden, Germany, Italy, France, Switzerland, Japan, Singapore, Taiwan, Hong Kong, Sri
Lanka, Spain, Australia, United Kingdom,
Netherlands and Canada,
the rest 10%
is purchased locally.
MAJOR SUPPLIERS
- Frigomat
Srl. : Italy
- Eloma
GmbH. : Germany
- Meiko
Mashinenbau GmbH & Co. :
Germany
- Inducs
AG. : Switzerland
- Grindmaster Cecilware
Corp. : Canada
- Bonnet
International : France
- Williams
[U.K.] Ltd. : U.K.
- YPT
International Ltd. :
Hong Kong
- Univex Corp. :
U.S.A.
- Alto-Shaan Inc. : U.S.A.
- Beech Ovens Inc. : U.S.A./ Australia
- Blendtec : U.S.A.
- Elro [U.K.] Ltd. : U.K.
- Hallde : U.S.A.
- Manitowoc Ice, Inc. : U.S.A.
- Olis Ali S.p.a. : Italy
- Svenska Bake Partner
AB : Sweden
- Revent International AB. : Sweden
- Enofrigo S.p.a. : Italy
- Halton Group : U.S.A.
- Salva Industrial S.A. : Spain
- & etc.
SALES
90% of the
products is sold
locally by wholesale
to dealers, manufacturers and
end-users, the remaining 10% is
exported to Vietnam,
Myanmar, Sri Lanka, Republic of
China, Malaysia, Maldives,
Hong Kong and
India.
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to have any
subsidiary or 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 15-30-60 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 the
credit term of
90 days or
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Pubplachai Branch,
Suapa Rd., Pomprab,
Bangkok]
EMPLOYMENT
The
subject employs approximately
200 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Warehouse:
-
71/1 Moo 1, Sethakij 1
Rd., Krathumban, Samutsakorn.
Domestic branch:
-
35 Thalang Rd.,
Muang, Phuket 83000.
Tel. : [66] 76 215-860,
Fax. : [66] 76 215-860.
Oversea branch
office:
-
46/47 Prashanth Extension,
1st Floor, Cross,
Hopefarm, Whitefield, Bangalor
560066,
Karnataka, India.
REMARK
MAXIMUM
CREDIT SHOULD BE
GRANTED AT US$
1,000,000.
COMMENT
The subject is a
leading importer and distributor of
heavy duty kitchen
equipment. The products
and service are
for efficient workflow and
qualified equipment to
reduce chaotic situation in the commercial
kitchen. Despite the
economic slowdown affecting
all over the
market in particular,
the subject is
buoyant on the
rising demand for
its products and
would aggressively develop
new markets for
specialty products use
in both domestic
and international markets.
Its business performance
remains healthy.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 2,000 shares
of Bht. 1,000
each.
The
capital was increased
later as following:
Bht. 2,500,000
on October 12,
1973
Bht. 5,000,000
on November 22,
1993
Bht. 15,000,000
on July 8,
2003
Bht. 35,000,000
on July 26,
2011
The
latest registered capital
was increased to Bht. 35 million, divided
into 35,000 shares
of Bht. 1,000
each with fully
paid.
MAIN
SHAREHOLDERS : [as at
July 25, 2011]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Bae Yong Hong
Seng Co., Ltd. Nationality: Thai Address : 666-668
Charoenkrung Rd.,
Samphantawong, Bangkok |
10,500 |
30.00 |
|
Mr. Suthee Jitcharoongphorn Nationality: Thai Address : 66
Ramkhamhaeng 9 Rd.,
Wangthonglang Bangkok |
3,360 |
9.60 |
|
Mr. Chatchawal Asawabenya Nationality: Thai Address : 245/72
Moo 3, Sapansung,
Bangkok |
2,002 |
5.72 |
|
Ms. Sutiluck Jitcharoongphorn Nationality: Thai Address : 66
Ramkhamhaeng 9 Rd.,
Wangthonglang Bangkok |
1,400 |
4.00 |
|
Ms. Prim Jitcharoongphorn Nationality: Thai Address : 66
Ramkhamhaeng 9 Rd.,
Wangthonglang Bangkok |
1,358 |
3.88 |
|
Ms. Primprao Jitcharoongphorn Nationality: Thai Address : 66
Ramkhamhaeng 9 Rd.,
Wangthonglang Bangkok |
1,358 |
3.88 |
|
Mr. Athikom Jitcharoongphorn Nationality: Thai Address : 66
Ramkhamhaeng 9 Rd.,
Wangthonglang Bangkok |
1,358 |
3.88 |
|
Others |
13,664 |
39.04 |
Total Shareholders : 22
Share Structure [as at
July 25, 2011]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
22 |
35,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
22 |
35,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Thana Wongsaengnark No. 5446
BALANCE SHEET [BAHT]
The latest financial figures published for December 31, 2010 & 2009 were:
ASSETS
|
Current Assets |
2010 |
2009 |
|
|
|
|
|
Cash in Hand
& at Bank |
9,035,189.72 |
22,711,098.97 |
|
Short-term Investment |
1,710,958.47 |
1,037,000.00 |
|
Trade Accounts Receivable |
58,563,918.21 |
91,207,156.66 |
|
Inventories |
82,105,878.52 |
69,039,058.59 |
|
Other Current Assets
|
25,306,722.66 |
24,436,807.72 |
|
|
|
|
|
Total Current Assets
|
176,722,667.58 |
208,431,121.94 |
|
Cash at Bank
pledged as a
Collateral |
6,906,611.58 |
6,886,390.00 |
|
Investment in Subsidiary |
2,554,584.79 |
2,554,584.79 |
|
Fixed Assets |
21,576,804.15 |
22,761,887.85 |
|
Intangible Assets |
1.00 |
14,219.70 |
|
Other Assets |
2,014,228.48 |
5,088,682.37 |
|
Total Assets |
209,774,897.58 |
245,736,886.65 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
|
|
|
|
|
Bank Overdraft & Short-term Loan
from Bank |
20,771,785.69 |
49,421,678.22 |
|
Trade Accounts Payable |
58,725,128.18 |
57,714,692.06 |
|
Current Portion of Hire-purchase Contract Payable |
544,747.81 |
536,812.63 |
|
Current Portion of Finance
Lease Contract Payable |
616,431.72 |
793,861.30 |
|
Accrued Expenses |
18,363,313.60 |
11,732,071.27 |
|
Advance Deposit for
Goods |
22,936,865.44 |
39,729,398.54 |
|
Other Current Liabilities |
2,612,529.45 |
1,854,382.23 |
|
|
|
|
|
Total Current Liabilities |
124,570,801.89 |
161,782,896.25 |
|
Hire-purchase Contract Payable
- Net |
721,556.28 |
1,256,647.08 |
|
Finance Lease Contract
Payable - Net |
626,577.35 |
1,243,009.07 |
|
Total Liabilities |
125,918,935.52 |
164,282,552.40 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 15,000 shares |
15,000,000.00 |
15,000,000.00 |
|
|
|
|
|
Capital Paid |
15,000,000.00 |
15,000,000.00 |
|
Unrealized Loss from
Investment in Securities available
for Sale |
497,215.00 |
[236,175.00] |
|
Retained Earning Appropriated for
Statutory Reserve
|
1,500,000.00 |
1,500,000.00 |
|
Unappropriated |
66,858,747.06 |
65,190,509.25 |
|
Total Shareholders' Equity |
83,855,962.06 |
81,454,334.25 |
|
Total Liabilities & Shareholders' Equity |
209,774,897.58 |
245,736,886.65 |
PROFIT & LOSS ACCOUNT
|
Sales |
2010 |
2009 |
|
|
|
|
|
Sales & Service
Income |
428,967,142.03 |
388,013,930.87 |
|
Other Income |
5,855,687.08 |
2,485,916.80 |
|
Total Sales |
434,822,829.11 |
390,499,847.67 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
328,260,209.10 |
291,117,332.98 |
|
Selling Expenses |
5,513,029.24 |
4,967,661.95 |
|
Administrative Expenses |
88,851,946.92 |
83,653,422.19 |
|
Other Expenses |
2,638,139.16 |
588,805.94 |
|
Total Expenses |
425,263,324.42 |
380,327,223.06 |
|
|
|
|
|
Profit before Finance Cost and
Income Tax |
9,559,504.69 |
10,172,624.61 |
|
Finance Cost |
[3,276,833.66] |
[4,945,010.33] |
|
|
|
|
|
Profit before Income Tax |
6,282,671.03 |
5,227,614.28 |
|
Income Tax |
[3,204,433.22] |
[1,827,538.23] |
|
|
|
|
|
Net Profit / [Loss] |
3,078,237.81 |
3,400,076.05 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.42 |
1.29 |
|
QUICK RATIO |
TIMES |
0.56 |
0.71 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
19.88 |
17.05 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.04 |
1.58 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
91.30 |
86.56 |
|
INVENTORY TURNOVER |
TIMES |
4.00 |
4.22 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
49.83 |
85.80 |
|
RECEIVABLES TURNOVER |
TIMES |
7.32 |
4.25 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
65.30 |
72.36 |
|
CASH CONVERSION CYCLE |
DAYS |
75.83 |
100.00 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
76.52 |
75.03 |
|
SELLING & ADMINISTRATION |
% |
22.00 |
22.84 |
|
INTEREST |
% |
0.76 |
1.27 |
|
GROSS PROFIT MARGIN |
% |
24.84 |
25.61 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.23 |
2.62 |
|
NET PROFIT MARGIN |
% |
0.72 |
0.88 |
|
RETURN ON EQUITY |
% |
3.67 |
4.17 |
|
RETURN ON ASSET |
% |
1.47 |
1.38 |
|
EARNING PER SHARE |
BAHT |
205.22 |
226.67 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.60 |
0.67 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.50 |
2.02 |
|
TIME INTEREST EARNED |
TIMES |
2.92 |
2.06 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
10.55 |
|
|
OPERATING PROFIT |
% |
(6.03) |
|
|
NET PROFIT |
% |
(9.47) |
|
|
FIXED ASSETS |
% |
(5.21) |
|
|
TOTAL ASSETS |
% |
(14.63) |
|
PROFITABILITY RATIO
|
Gross Profit Margin |
24.84 |
Impressive |
Industrial
Average |
19.99 |
|
Net Profit Margin |
0.72 |
Impressive |
Industrial
Average |
(8.26) |
|
Return on Assets |
1.47 |
Impressive |
Industrial
Average |
0.32 |
|
Return on Equity |
3.67 |
Acceptable |
Industrial
Average |
5.58 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from sales after accounting for the
cost of goods sold. Gross profit margin serves as the source for paying
additional expenses and future savings. The company’s figure is 24.84%. When
compared with the industry average, the ratio of the company was higher, this
indicated that company was more profitable than the same industry.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company’s figure is 0.72%, higher figure when compared with those
of its average competitors in the same industry, indicated that business was an
efficient operator in a dominant
position within its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. Return on Assets ratio is
1.47%, higher figure when compared with those of its average competitors in the
same industry, indicated that business was an efficient profit in a dominant position within its industry.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. When compared with the
industry average, it was lower, the company's figure is 3.67%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Uptrend
LIQUIDITY RATIO
|
Current Ratio |
1.42 |
Deteriorated |
Industrial
Average |
15.69 |
|
Quick Ratio |
0.56 |
|
|
|
|
Cash Conversion Cycle |
75.83 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's
figure is 1.42 times in 2010, increased from 1.29 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was lower.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.56 times in 2010,
decreased from 0.71 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 76 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.60 |
Impressive |
Industrial
Average |
0.76 |
|
Debt to Equity Ratio |
1.50 |
Risky |
Industrial
Average |
0.87 |
|
Times Interest Earned |
2.92 |
Deteriorated |
Industrial
Average |
908.31 |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the shareholders
have committed. A lower the percentage means that the company is using less
leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 2.92 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.6 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the average
competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
19.88 |
Satisfactory |
Industrial
Average |
25.82 |
|
Total Assets Turnover |
2.04 |
Impressive |
Industrial
Average |
1.28 |
|
Inventory Conversion Period |
91.30 |
|
|
|
|
Inventory Turnover |
4.00 |
Acceptable |
Industrial
Average |
5.43 |
|
Receivables Conversion Period |
49.83 |
|
|
|
|
Receivables Turnover |
7.32 |
Deteriorated |
Industrial
Average |
16.54 |
|
Payables Conversion Period |
65.30 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Downtrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.21 |
|
UK Pound |
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.69.51 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
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 |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.