MIRA INFORM REPORT

 

 

Report Date :           

11.10.2011

 

IDENTIFICATION DETAILS

 

Name :

UP  INTERWEALTH  CO.,  LTD.

 

 

Registered Office :

Room  No.  2203,  22nd  Floor,  Worawat  Building, Silom  Road,  Silom,  Bangrak, Bangkok  10500

 

 

Country :

Thailand

 

 

Date of Incorporation :

11.07.2011

 

 

Com. Reg. No.:

0105554090949

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Importer,  distributor  and  exporter of agricultural  products

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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

 

UP  INTERWEALTH  CO.,  LTD.

 

 

SUMMARY

 

BUSINESS  ADDRESS                          :           ROOM  NO.  2203,  22nd  FLOOR,  WORAWAT  BUILDING,

849   SILOM  ROAD,  SILOM,  BANGRAK,

BANGKOK  10500,  THAILAND

TELEPHONE                                         :           [66]   081  939-3544,  2222-2777

FAX                                                      :           [66]   2622-6508

E-MAIL  ADDRESS                                :           upinterwealth@gmail.com

REGISTRATION  ADDRESS                  :           SAME  AS  BUSINESS  ADDRESS

ESTABLISHED                                     :           2011

REGISTRATION  NO.                           :           0105554090949

CAPITAL REGISTERED                         :           BHT.   5,000,000

CAPITAL PAID-UP                                :           BHT.   5,000,000

FISCAL YEAR CLOSING DATE              :           -            

LEGAL  STATUS                                  :           PRIVATE  LIMITED  COMPANY

EXECUTIVE                                          :           MR. UDOM  NILPARAK,  THAI

                                                                        MANAGING  DIRECTOR           

NO.  OF  STAFF                                   :           6

LINES  OF  BUSINESS                          :           AGRICULTURAL  PRODUCTS

                                                                        IMPORTER,  DISTRIBUTOR  AND  EXPORTER

                                               

                         

CORPORATE PROFILE

 

OPERATING  TREND                            :           EARLY  STAGE                       

PRESENT  SITUATION                          :           OPERATING  NORMALLY                     

REPUTATION                                       :           -

MANAGEMENT  STANDARD                 :           -          

 

 

 

 

 

 

HISTORY

 

The  subject  was  established on  July  11,  2011  as  a  private  limited  company under  the  registered  name   UP  INTERWEALTH  CO.,  LTD., by  Thai groups,  with  the  objective  to be engaged in  international  trading  business  of  agricultural  products. It  currently  employs  6  staff.  

 

The subject’s registered  address is Room  No. 2203,  22nd  Flr., Worawat  Building, 849  Silom  Rd.,  Silom,  Bangrak,  Bangkok  10500,  and  this  is  the  subject’s  current  operation  address.  

 

 

THE BOARD OF DIRECTOR

 

     Name

 

Nationality

Age

 

 

 

 

Mr. Udom  Nilparak

 

Thai

31

Mr. Pongsatuch  Asawinvichit

 

Thai

31

Mr. Vatcharakit  Asawinvichit

 

Thai

30

Ms. Amporn  Nilparak

 

Thai

37

 

 

AUTHORIZED PERSON

 

Any  of  the  above  directors  can  sign  on  behalf  of  the  subject  with  company’s  affixed.

 

 

MANAGEMENT

 

Mr. Udom  Nilparak  is  the  Managing  Director.

He  is  Thai  nationality  with  the  age  of  31  years  old.  

 

 

BUSINESS OPERATIONS

 

The subject is  engaged  in  importing, distributing  and exporting  various  kinds  of  agricultural  products,  such  as  garlic,  bean,  chili,  spice,  tamarind,  shallot,  tapioca  and  etc.  Its  business   has  been  started  in  August  2011.

 

PURCHASE

Its  products  are  purchased  from  suppliers  both  domestic  and  overseas,  such  as  India,  Myanmar,  Indonesia,  Republic  of  China  and  Egypt.

 

SALES 

Its  products  are  sold  locally  by  wholesale  to  traders,  manufacturers  and  end-users.

 

 

EXPORT

Some  of  the  products  are  exported  and  re-exported  to  U.S.A.,  Canada  and  Australia.

 

RELATED  AND  AFFILIATED  COMPANY

 

TPP  International  Co.,  Ltd.

Business  Type  :  Trading  company

 

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

Deutsche  Bank  AG.     [Bangkok  office]

 

EMPLOYMENT

The  subject  employs  6  staff.  

 

LOCATION  DETAILS

The  premise  is  rented  for  administrative  office  at  the  heading  address.  Premise  is  located  in a  prime  commercial  area.

 

REMARK

CREDIT  OF  US$  125,000  AGAINST  D/A  TERMS   SHOULD  BE  ON  SECURED  BASIS.

 

COMMENT

Trading  business of  agricultural products  is  dampen  due  to  flooding  in  large  area  in  Thailand.    Agricultural  products  has  hit  hardest  by  the  current  flood  and estimated  around 6  million  rai  ( or  2,670.000  acre) of farmland,  affecting  paddy  production  by  3.5-4  million  tones  plus  others  4-5  tones  of  others  crop  products including  local  fruits.

 

FINANCIAL INFORMATION

 

The  capital  was  registered  at  Bht. 5,000,000 divided  into 50,000 shares  of  Bht. 100  each  with  fully  paid.

 

THE  SHAREHOLDERS  LISTED  WERE  :  [as  at  July  20,  2011]

       NAME

HOLDING

%

 

 

 

TPP  International  Co.,  Ltd.

Nationality:  Thai

Address     :   849  Silom  Rd.,  Silom,  Bangrak,  Bangkok

25,000

50.00

Mr. Udom  Nilparak

Nationality:  Thai

Address     :  931  Songwad  Rd.,  Samphantawong, 

                    Bangkok

22,500

45.00

Ms. Amporn  Nilparak

Nationality:  Thai

Address     :  931  Songwad  Rd.,  Samphantawong, 

                     Bangkok

2,500

5.00

 

Total  Shareholders  :   3

 

NAME  OF  AUDITOR  &  CERTIFIED  PUBLIC  ACCOUNTANT  NO. :

None.

 

NOTE

Due  to  the  subject  has  been  established  in  2011, financial  statement  was  not yet  submitted.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.07

UK Pound

1

Rs.76.65

Euro

1

Rs.66.17

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.