MIRA
INFORM REPORT
|
Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
MILLCON BURAPA CO., LTD. |
|
|
|
|
Formerly Known As : |
BRP
STEEL CO., LTD. |
|
|
|
|
Registered Office : |
99 Highway No. 3191, T. Nikompattana, A. Nikompattana, Rayong 21180 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
23.09.1994 |
|
|
|
|
Com. Reg. No.: |
0215537001304 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Hot Rolled Steel Products |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
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
MILLCON
BURAPA CO., LTD.
[FORMER
: BRP STEEL
CO., LTD.]
SUMMARY
BUSINESS
ADDRESS : 99
HIGHWAY NO. 3191, T. NIKOMPATTANA,
A.
NIKOMPATTANA, RAYONG 21180
TELEPHONE : [66] 38
606-040-2
FAX : [66] 38
606-043
E-MAIL
ADDRESS : sales@brpsteel.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1994
REGISTRATION
NO. : 0215537001304
CAPITAL REGISTERED : BHT. 2,244,177,345
CAPITAL PAID-UP : BHT.
2,244,177,345
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SITTHICHAI LEESAWADTRAKUL, THAI
PRESIDENT
& CHIEF EXECUTIVE OFFICER
NO.
OF STAFF : 150
LINES
OF BUSINESS : HOT
ROLLED STEEL PRODUCTS
MANUFACTURER, DISTRIBUTOR
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 September 23,
1994 as a
private limited company under
the originally registered
name “Burapa Steel
Co., Ltd.” by Thai
& Italian groups.
On November 8,
1994, the registered
name was changed
to “Burapa Steel
Industry Co., Ltd.” and
was changed again
to “BRP Steel
Co., Ltd.” on May
30, 2008. Finally Mill Con Steel Industries PCL acquired an interest in Burapa Steel Industries Co Ltd.
(BS), a long steel products manufacturer, from Thai Capital Corp PCL, then its
name was changed
to the present
name, MILLCON BURAPA
CO., LTD. on May 11,
2011. Its business
objective is to manufacture
and market hot
rolled steel products
to both domestic
and international markets.
It currently employs
approximate 150 staff.
The
subject’s registered address
is 99 Highway
No. 3191, T. Nikompattana, A. Nikompattana, Rayong
21180, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Santisuk Plukesawad |
|
Thai |
62 |
|
Mr. Sitthichai Leesawadtrakul |
[x] |
Thai |
33 |
|
Ms. Suthirat Leesawadtrakul |
[x] |
Thai |
29 |
|
Mr. Thitipong Tangpoonpholviwat |
[-] |
Thai |
33 |
|
Mrs. Phirom Saopayon |
[-] |
Thai |
50 |
|
Mrs. Nantapatch Thienprateep |
[-] |
Thai |
46 |
|
Ms. Jureerat Lapanavanich |
|
Thai |
35 |
|
Mr. Pagano Carlo |
|
Italian |
39 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can jointly sign
with anyone of
the mentioned directors
[-] on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sitthichai
Leesawadtrakul is the
President & Chief
Executive Officer.
He is Thai
nationality with the
age of 33
years old.
Mr. Duangkamol Sukmuang is
the G.M. [Administration &
Personnel].
He is Thai
nationality.
Mr. Virat Kaewbangkaprom is
the G.M. [Production].
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of hot rolled
steel products, such
as Concrete Steel
Bar, Deformed Bars,
Steel Plates, Terex
Bar, One Bar
and etc.
PRODUCTION CAPACITY
300,000 tons
per annum.
PURCHASE
Most of raw
materials are purchased
from local suppliers,
the remaining is
imported from Japan,
Republic of China
and Australia.
SALES
The products are sold
by wholesale to
both local and overseas
customers such as
Canada, Australia, Korea,
Taiwan, Republic of
China, Vietnam 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
T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately 150 staff.
LOCATION DETAILS
The
premise is owned
for administrative office
and factory at
the heading address.
Premise is located
in provincial, in the
Eastern region.
Bangkok
Branch office:
29th Floor, Thaniya
Plaza Building, 52 Silom Rd.,
Suriyawongse, Bangrak, Bangkok
10500. Tel. : [66]
2652-3333, Fax. : [66] 2632-8031.
REMARK
MAXIMUM
CREDIT SHOULD BE
GRANTED AT US$
1,000,000.
ADDITIONAL INFORMATION
Burapa Steel Industries Co., Ltd. Announces Revised Judgment of the
Central Administrative Court to Suspend 65 Projects in Map Ta Phut
09/9/2010
As the Supreme Administrative Court revised an order of the Central
Administrative Court by ordering the relevant government authorities to suspend
65 projects in Map Ta Phut and nearby areas until otherwise ordered by the
Court, the expansion project of the company's subsidiary, namely BRP Steel Co.,
Ltd., which is determined as a project number 36 is one of the projects
referred in the attachment to the Complaint. The environmental impact
assessment (EIA) report of which has been approved by the Expert Committee and
the Office of the Natural Resources and Environmental Policy and Planning
(ONEP) on September 16, 2008. On September 2, 2010, the Central Administrative
Court ruled that the license of any of the 76 projects which fall into the 11
types of projects under the Notification of the Ministry of Natural Resources
and Environment dated August 31, 2010 re: 11 types and sizes of Serious Impact
Projects which require preparation of EIA report, shall be revoked. Mill Con
Steel Industries Public Company Limited informed that the expansion project of
BRP Steel Co., Ltd. plant can be continued.
Thailand Court Rejects Appeals of 16 Map Ta Phut Industrial Projects
05/5/2010
The Central Administrative Court has resolved to turn down the appeals
of the operators of 16 Map Ta Phut industrial projects, which were previously
suspended by the court's injunction. On January 22, 2010, the court rejected a
request for assistance filed by operators of a total of 30 suspended projects
located in Map Ta Phut industrial estate. Afterwards, 16 of the 30 projects
lodged appeals against the court's injunction; however, the appeals have been
dropped, and the operators are deprived of the rights to appeal further with
the Supreme Administrative Court. The 16 industrial projects are operated by 12
firms, namely Amata B.Grimm Power Service Limited, Vinythai Public Company
Limited, MTP HPJV C.V., Siam
Tinplate Company Limited, Ube Nylon (Thailand), Limited, Bangkok
Synthetics Co., Ltd., Burapa Steel Industries Co., Ltd., PTT Chemical Public
Company Limited, PTT Utilities Co, Ltd. and PTT Plc. The Administrative Court
earlier issued an injunction for 76 projects in Map Ta Phut industrial estate
to halt functioning for their failure to pass the environmental and health
impact assessments as required by the Constitution. 21 industrial projects are
presently allowed to resume operation while 55 others remain frozen.
COMMENT
The
subject is a manufacturer and
exporter of cast steel and ductile cast iron parts. its products are used in automotive
industry especially trucks, tractor and trailers, water works part, electrical
parts, rails system parts, earth moving and agricultural parts, machinery
parts, mining, and cement manufacturing.
The company incorporates efficient
production facilities and world - class standard manufacturing technology
together with high attention to quality control system to ensure maximum
customer satisfaction and also achieved ISO 9001 : 2000 certification.
With its extensive range of product
offerings, manufacturing technologies and engineering capabilities, it is
well-equipped to serve both domestic and foreign customers.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 250,000,000
divided into 25,000,000
shares of Bht.
10 each with
fully paid.
The
capital was increased
and decreased later
as follows:
Bht. 173,927,020
on March 16,
2001
Bht. 286,963,510
on August 4,
2006
Bht. 386,963,510
on July 24,
2007
Bht. 497,524,515
on September 5,
2008
Bht. 968,973,945
on March 31,
2010
Bht.
1,968,973,945 on May
7, 2010
Bht.
2,599,352,545 on October
21, 2010
Bht.
2,244,177,345 on November
8, 2010 [decreased]
The latest
registered capital was
decreased to Bht. 2,244,177,345 divided
into 448,835,469 shares
of Bht. 5 each
with fully paid.
MAIN SHAREHOLDERS
[as
at May 27,
2011]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Millcon Steel Industries
Public Company Limited Nationality: Thai Address : 9, 11, 13
Bangkradi 32 Rd.,
Samaedam,
Bangkhunthien, Bangkok |
442,745,391 |
98.64 |
|
Mr. Phanom Santhanasuk Nationality: Thai Address : 21/4
Moo 3, Bangkrasor,
Muang, Nonthaburi |
1,309,450 |
0.29 |
|
Mr. Varanchai Suksiri Nationality: Thai Address : 22
Soi Lasal 23,
Bangna, Bangkok |
709,950 |
0.16 |
|
Mrs. Ajcharee Muangjeen Nationality: Thai Address : 22
Soi Lasal 23,
Bangna, Bangkok |
709,950 |
0.16 |
|
Electra Fareast LP
Co., Ltd. Nationality: Hong Kong Address : 1
Connaughr Place, Hong
Kong |
685,990 |
0.15 |
|
Others |
2,674,738 |
0.60 |
Total Shareholders : 41
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Somchai Jinnovart No.
3271
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2010 &
2009 were:
ASSETS
|
Current Assets |
2010 |
2009 |
|
|
|
|
|
Cash and Cash Equivalent |
12,283,998 |
12,638,831 |
|
Trade Accounts &
Notes Receivable |
79,815,117 |
755,075,356 |
|
Inventories |
998,487,701 |
584,077,055 |
|
Retention Receivable |
- |
68,500,000 |
|
Revenue Department Receivable |
173,135,185 |
47,390,799 |
|
Advance Payment for Goods &
Constructor |
145,884,674 |
254,498,575 |
|
Short-term Loan from Person Related |
47,757,232 |
16,601,200 |
|
Other Current Assets |
13,196,841 |
6,475,994 |
|
|
|
|
|
Total Current Assets
|
1,470,560,748 |
1,745,257,810 |
|
Cash at Bank under Commitment |
40,100,000 |
100,000 |
|
Long-term Investment |
3,543,641 |
3,582,535 |
|
Fixed Assets |
2,408,880,155 |
779,798,221 |
|
Intangible Assets |
44,940,595 |
47,066,336 |
|
Other Assets |
2,496,050 |
1,858,633 |
|
Total Assets |
3,970,521,189 |
2,577,663,535 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
|
|
|
|
|
Short-term Loan from Financial
Institute |
754,933,140 |
1,078,986,674 |
|
Short-term Loan from Discount Sales |
- |
227,022,500 |
|
Trade Accounts Payable |
100,674,229 |
31,513,404 |
|
Related Company Payable |
- |
16,601,200 |
|
Advance Received for Goods |
175,397,933 |
78,086,324 |
|
Current Portion of Duty
Tax |
2,814,208 |
2,814,208 |
|
Other Payable |
118,619,426 |
- |
|
Other Current Liabilities |
25,639,788 |
22,061,590 |
|
|
|
|
|
Total Current Liabilities |
1,178,078,724 |
1,457,085,900 |
|
Long-term Loan from Financial Institute |
277,775,673 |
- |
|
Duty Tax, net of Current
Portion |
- |
2,814,208 |
|
Total Liabilities |
1,455,854,397 |
1,459,900,108 |
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
Share capital : Baht 5
par value authorized, issued
and fully paid share
capital 519,870,509 &
99,504,903 shares in
2010 & 2009 respectively |
2,599,352,545 |
497,524,515 |
|
|
|
|
|
Capital Paid |
2,010,299,811 |
497,524,515 |
|
Premium on Share Capital |
66,336,603 |
66,336,603 |
|
Surplus on Revaluation
of Assets |
330,680,398 |
356,711,495 |
|
Statutory Reserve |
10,935,879 |
- |
|
Retained Earning-
Unappropriated |
96,414,101 |
197,190,814 |
|
Total Shareholders' Equity |
2,514,666,792 |
1,117,763,427 |
|
Total Liabilities & Shareholders' Equity |
3,970,521,189 |
2,577,663,535 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2010 |
2009 |
|
|
|
|
|
Sales Income |
2,836,055,387 |
4,141,614,500 |
|
Other Income |
11,413,978 |
83,582,702 |
|
Total Revenues |
2,847,469,365 |
4,225,197,202 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
2,677,001,466 |
3,972,268,698 |
|
Selling Expenses |
16,370,538 |
29,972,110 |
|
Administrative Expenses |
43,674,098 |
32,486,610 |
|
Total Expenses |
2,737,046,102 |
4,034,727,418 |
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
110,423,263 |
190,469,784 |
|
Financial Cost |
[46,812,181] |
[54,215,739] |
|
Profit before Income Tax |
63,611,082 |
136,254,045 |
|
Income Tax |
[3,809,896] |
- |
|
|
|
|
|
Net Profit / [Loss] |
59,801,186 |
136,254,045 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.25 |
1.20 |
|
QUICK RATIO |
TIMES |
0.08 |
0.53 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.18 |
5.31 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.71 |
1.61 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
136.14 |
53.67 |
|
INVENTORY TURNOVER |
TIMES |
2.68 |
6.80 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
10.27 |
66.54 |
|
RECEIVABLES TURNOVER |
TIMES |
35.53 |
5.49 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
13.73 |
2.90 |
|
CASH CONVERSION CYCLE |
DAYS |
132.69 |
117.32 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
94.39 |
95.91 |
|
SELLING & ADMINISTRATION |
% |
2.12 |
1.51 |
|
INTEREST |
% |
1.65 |
1.31 |
|
GROSS PROFIT MARGIN |
% |
6.01 |
6.11 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.89 |
4.60 |
|
NET PROFIT MARGIN |
% |
2.11 |
3.29 |
|
RETURN ON EQUITY |
% |
2.38 |
12.19 |
|
RETURN ON ASSET |
% |
1.51 |
5.29 |
|
EARNING PER SHARE |
BAHT |
0.15 |
1.37 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.37 |
0.57 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.58 |
1.31 |
|
TIME INTEREST EARNED |
TIMES |
2.36 |
3.51 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
(31.52) |
|
|
OPERATING PROFIT |
% |
(42.03) |
|
|
NET PROFIT |
% |
(56.11) |
|
|
FIXED ASSETS |
% |
208.91 |
|
|
TOTAL ASSETS |
% |
54.04 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
6.01 |
Deteriorated |
Industrial Average |
13.13 |
|
Net Profit Margin |
2.11 |
Impressive |
Industrial Average |
(6.46) |
|
Return on Assets |
1.51 |
Impressive |
Industrial Average |
(1.65) |
|
Return on Equity |
2.38 |
Impressive |
Industrial Average |
(8.33) |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from revenues 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 6.01%. When
compared with the industry average, the ratio of the company was lower. This
indicated that company was originated from the problems with control over its costs.
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 2.11%
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 is 1.51%,
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. Return on Equity is
2.38%, 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.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY RATIO
|
Current Ratio |
1.25 |
Deteriorated |
Industrial Average |
20.66 |
|
Quick Ratio |
0.08 |
|
|
|
|
Cash Conversion Cycle |
132.69 |
|
|
|
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 1.25 times in 2010, increase from 1.2 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 0.08 times in 2010,
decrease from 0.53 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 133 days.
Trend of the average
competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.37 |
Impressive |
Industrial Average |
0.95 |
|
Debt to Equity Ratio |
0.58 |
Impressive |
Industrial Average |
2.25 |
|
Times Interest Earned |
2.36 |
Deteriorated |
Industrial Average |
81.13 |
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 2.36 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 0.37 less than 0.5, most of the company's
assets are financed through equity.
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 |
1.18 |
Deteriorated |
Industrial Average |
62.51 |
|
Total Assets Turnover |
0.71 |
Deteriorated |
Industrial Average |
1.66 |
|
Inventory Conversion Period |
136.14 |
|
|
|
|
Inventory Turnover |
2.68 |
Deteriorated |
Industrial Average |
12.67 |
|
Receivables Conversion Period |
10.27 |
|
|
|
|
Receivables Turnover |
35.53 |
Impressive |
Industrial Average |
14.78 |
|
Payables Conversion Period |
13.73 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
|
1 |
Rs.73.47 |
|
Euro |
1 |
Rs.65.38 |
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.