MIRA INFORM REPORT
|
Report Date : |
31.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
AGC
CHEMICALS [THAILAND] CO.,
LTD. |
|
|
|
|
Formerly Known As : |
THASCO CHEMICAL CO., LTD |
|
|
|
|
Registered Office : |
24th Floor, Bangkok Insurance Building, 25 South Sathorn Road, Thungmahamek, Sathorn, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
15.07.1964 |
|
|
|
|
Com. Reg. No.: |
0105507001757 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer,
Distributor & Exporter of Industrial Chemicals |
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
AGC CHEMICALS
[THAILAND] CO., LTD.
[FORMER : THASCO CHEMICAL CO., LTD.]
SUMMARY
BUSINESS
ADDRESS : 24th FLOOR,
BANGKOK INSURANCE BUILDING,
25 SOUTH
SATHORN ROAD, THUNGMAHAMEK,
SATHORN, BANGKOK
10120, THAILAND
TELEPHONE : [66] 2679-1600
FAX :
[66] 2677-3177
E-MAIL
ADDRESS : info@acth.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1964
REGISTRATION
NO. : 0105507001757 [Former : 231/2507]
CAPITAL REGISTERED : BHT. 1,400,000,000
CAPITAL PAID-UP : BHT.
1,400,000,000
SHAREHOLDER’S PROPORTION : JAPANESE :
100.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
KATSUYA KINOSHITA, JAPANESE
PRESIDENT
NO.
OF STAFF : 900
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
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 July
15, 1964 as
a private limited
company under the
registered name “Thai
Tomiden Caustic Soda
Co., Ltd.” It is a
joint venture between
Thai business group and Asahi Glass
Company Limited in
Japan. On October
22, 1965 its
name was changed to “Thai
Asahi Caustic Soda Co., Ltd.” and was
changed to “Thasco Chemical
Co., Ltd.” on September
19, 1988.
In 2005, subject
became a wholly
owned subsidiary of
Asahi Glass Company
Limited of Japan,
and its name was
changed to AGC CHEMICALS
[THAILAND] CO., LTD.,
on April 19,
2007. It produces
various kinds of
base chemicals using
advanced technology transferred
from Asahi Glass Co., Ltd. It
currently employs approximate
900 staff.
In 1994 the
subject was granted promotional privileges from Board of
Investment for its
chemicals plant at
the Eastern Industrial
Estate, Map Ta
Phut, Rayong Province.
The subject achieved
the international standard
ISO 9002 certificate
by BVQI, U.K.
in 1999 and
ISO 14001 certificate
in 2000.
The subject’s registered
address is 24th Floor,
Bangkok Insurance Building,
25 South Sathorn
Rd., Thungmahamek, Sathorn,
Bangkok 10120, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Katsuya Kinoshita |
[x] |
Japanese |
52 |
|
Mr. Tokichi Kureshima |
|
Japanese |
54 |
|
Mr. Hiroshi Akagi |
|
Japanese |
56 |
|
Mr. Bhakbhumi Chiraratn |
|
Thai |
59 |
|
Mr. Masao Nemoto |
|
Japanese |
52 |
|
Mr. Hiroshi Kato |
|
Japanese |
- |
|
Mr. Koji Akimoto |
[x] |
Japanese |
53 |
|
Mr. Norio Nozokido |
|
Japanese |
41 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Katsuya Kinoshita is the
President.
He is Japanese
nationality with the
age of 52
years old.
Mr. Koji Akimoto is
the Vice President
[Operation, Rayong]
He is Japanese
nationality with the
age of 53
years old.
Mr. Tokichi Kureshima is
the Vice President
[Operation, Samutprakarn]
He is Japanese
nationality with the
age of 54
years old.
Mr. Bhakbhumi Chiraratn is
the Executive Director.
He is Thai
nationality with the
age of 59
years old.
Mr. Siriphan Chunchuangchot Financial
Manager.
He is Thai
nationality.
Mr. Wanlarp Saiparn is
the QC & QA Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity
is manufacturer various
kinds of industrial
base chemicals, such
as sodium hydroxide, potassium
hydroxide, potassium carbonate,
liquid sodium hydroxide,
hydrochloric acid, sodium hypochlorite, sodium hydroxide flaks,
chlorine, refrigerant, solvent,
polypropylene glycol, polytetrafluoroethylene, ethylene tetra fluoroethylene and etc. Its products are
supplied to pulp & paper, consumer
goods, fabric, rubber,
petroleum, glass and
other industries.
MAJOR BRANDS
“SUPERCHLOR”, “NU-CHLOR”, “HI-CHLOR”
TRANSPORTATION
The subject built
its own jetty to
transport products by river.
Also for safety
and convenience, products are delivered by pipeline to some
of the subject’s
customers located at
the Map Ta
Phut Industrial Estate.
PURCHASE
Most of its raw materials including electricity,
pure salt, natural gas
and etc. are purchased
from local suppliers,
and the rest
is imported from
United States of America,
India, Japan, Taiwan,
Republic of China
and Europe.
MAJOR SUPPLIERS
|
Name |
Country |
|
|
|
|
Asahi Glass Co., Ltd. |
: Japan |
|
Mitsui & Co |
: Japan |
|
Thai-MC Co., Ltd.
|
: Thailand |
SALES [LOCAL]
20% of its
products is sold
locally to wholesalers,
manufacturers and Thai
Government.
EXPORT [COUNTRY]
80% of its products
is exported to
Singapore, Vietnam, Japan,
South Africa, Australia,
Hong Kong, U.S.A.,
Taiwan and Europe.
MAJOR CUSTOMERS
|
Name |
Country |
|
Thep Enterprise Co.,
Ltd. |
: Thailand |
|
Chemical Enterprise Co., Ltd. |
: Thailand |
|
S.T. Chemical Business
Co., Ltd. |
: Thailand |
|
Premium Chemical Marketing
Co., Ltd. |
: Thailand |
SUBSIDIARY COMPANY
Surisa Co., Ltd.
Business Type :
Distributor of salt
products.
RELATED & AFFILIATED COMPANIES
|
Name |
Country |
Business Type |
|
Thai-Asahi Glass Public Co., Ltd.
|
Thailand |
Manufacturer of glass |
|
Thai Asahi Caustic Soda Co.,
Ltd. |
Thailand |
Manufacturer of caustic
soda |
|
Thai Safety Glass Co.,
Ltd. |
Thailand |
Manufacturer of special
glass |
|
Chemicals Marketing Co., Ltd.
|
Thailand |
Manufacturer of chemical
products |
|
Pimai Salt Co., Ltd. |
Thailand |
Manufacturer of chemical
|
|
Thai Plastic and Chemicals
Public Co., Ltd. |
Thailand |
Manufacturer of PVC
resin |
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
Bank of
Tokyo - Mitsubishi UFJ Ltd.
[Bangkok
Office : 54 North Sathorn Rd.,
Silom, Bangrak, Bangkok
10500]
Sumitomo-Mitsui Banking
Corporation
[Bangkok
Office : 138 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
Bangkok Bank Public Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
EMPLOYMENT
The subject employs
approximately 900 staff
[office staff and
factories workers].
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
The factories and
warehouses are located
at :
· 202 KM.
17, Suksawad Road,
T. Pakklongbangplakod,
Samutprakarn 10290 on
64,000 square meters of
area, Tel: [66]
2463-6345-8, Fax: [66] 2463-3728.
· 4 Soi G
12, Eastern Industrial
Estate, T. Map Ta Phut,
A. Muang, Rayong 21150,
on 28,800 square meters
of area, Tel: [66]
38 683-573, Fax: [66]
38 683-576.
REMARK
MAXIMUM CREDIT SHOULD
BE GRANTED AT
US$ 50,000,000.
COMMENT
AGC Chemicals
[Thailand] Co., Ltd.
produces premium quality
chemical products to
serve the growing
demand for both domestic and international
markets. It always
invests in modern
technology which negates
environmental impact while
ensuring high quality
products.
The company is Thailand’s leading
producer and distributor
of sodium hydroxide
in solution, pearl,
and flake forms
and the only
producer of Micropearls
in Southeast Asia
as well as
the first company
who produces Potassium
hydroxide and Potassium
Carbonate in the
kingdom.
Subject’s business has
significantly grown in
line with strong demand from industrial
sector for eight
months of this
year.
However, the subject
has some impact
from current severe
food in Thailand
which results in
a decrease in
number of customers’
orders for the
rest of this year.
FINANCIAL INFORMATION
The capital was
registered at Bht. 21,000,000 divided
into 42,000 shares of
Bht. 500 each.
The capital was
increased later as
followings :
Bht. 50,000,000 on
August 25, 1981
Bht. 70,000,000 on
January 5, 1982
Bht. 100,000,000 on
December 21, 1987
Bht. 300,000,000 on
May 17, 1990
Bht. 480,000,000 on
May 14, 1997
Bht. 600,000,000 on
March 23, 1998
Bht. 2,800,000,000
on February 12,
2002
On August 22, 2005,
capital was decreased to Bht. 1,400,000,000 divided
into 14,000,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE : [as at
August 15, 2011]
|
NAME |
HOLDING |
% |
|
Asahi Glass Co., Ltd.
Nationality: Japanese Address : 1-12-1 Yurakujo
Chiyodaku Tokyo, Japan |
13,999,998 |
100.00 |
|
Mr. Katsuya Kinoshita Nationality: Japanese Address : 25 South
Sathorn Rd., Thungmahamek,
Sathorn, Bangkok |
1 |
- |
|
Mr. Norio Nosokido Nationality: Japanese Address : 25 South
Sathorn Rd., Thungmahamek,
Sathorn, Bangkok |
1 |
- |
Total Shareholders : 3
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Japanese |
3 |
14,000,000 |
100.00 |
|
Total |
3 |
14,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Ekasit Chuthamsathit No.
4195
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2010 &
2009 were:
ASSETS
|
Current Assets |
2010 |
2009 |
|
|
|
|
|
Cash and Cash Equivalents |
1,668,592,811 |
652,773,458 |
|
Trade Accounts Receivable |
1,117,613,434 |
1,149,595,456 |
|
Inventories |
464,562,736 |
497,929,463 |
|
Other Current Assets
|
21,097,687 |
42,496,738 |
|
Total Current
Assets |
3,271,866,668 |
2,342,795,115 |
|
Investment in Subsidiaries & Associated Company |
490,100 |
490,100 |
|
Other Long-term Investment |
1,845,932 |
1,845,932 |
|
Long-term Loan to Related Company |
415,618,604 |
415,618,604 |
|
Fixed Assets |
2,663,790,632 |
2,835,134,605 |
|
Intangible Assets |
2,326,327 |
1,847,147 |
|
Other Assets |
16,191,916 |
10,094,779 |
|
Total Assets
|
6,372,130,179 |
5,607,826,282 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2010 |
2009 |
|
|
|
|
|
Trade Accounts Payable |
384,982,794 |
359,817,800 |
|
Other Payable |
87,281,300 |
216,394,045 |
|
Other Current Liabilities |
20,891,843 |
19,457,190 |
|
Total Current
Liabilities |
493,155,937 |
595,669,035 |
|
|
|
|
|
Estimated for Employees’
Benefit |
211,114,112 |
184,169,577 |
|
Total Liabilities |
704,270,049 |
779,838,612 |
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
value Authorized &
issued share capital 14,000,000
shares |
1,400,000,000 |
1,400,000,000 |
|
Capital Paid |
1,400,000,000 |
1,400,000,000 |
|
Statutory Reserve |
268,128,000 |
268,128,000 |
|
Retained Earning –
Unappropriated |
3,999,732,130 |
3,159,859,670 |
|
Total
Shareholders' Equity |
5,667,860,130 |
4,827,987,670 |
|
Total
Liabilities & Shareholders' Equity |
6,372,130,179 |
5,607,826,282 |
PROFIT & LOSS ACCOUNT
|
Sale |
2010 |
2009 |
|
|
|
|
|
Sales Income |
6,564,101,512 |
6,197,174,835 |
|
Interest Income |
18,397,140 |
11,892,391 |
|
Gain on Exchange Rate |
3,172,722 |
9,262,582 |
|
Other Income |
50,805,443 |
48,418,444 |
|
Total Sales
|
6,636,476,817 |
6,266,748,252 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
5,280,881,220 |
5,072,966,142 |
|
Selling Expenses |
372,604,067 |
345,906,342 |
|
Administrative Expenses |
143,119,070 |
122,453,747 |
|
Total Expenses |
5,796,604,357 |
5,541,326,231 |
|
Profit before Financial
Costs |
839,872,460 |
725,422,021 |
|
Financial Costs |
- |
[2,758,407] |
|
Net Profit / [Loss] |
839,872,460 |
722,663,614 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
6.63 |
3.93 |
|
QUICK RATIO |
TIMES |
5.65 |
3.03 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.46 |
2.19 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.03 |
1.11 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
32.11 |
35.83 |
|
INVENTORY TURNOVER |
TIMES |
11.37 |
10.19 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
62.15 |
67.71 |
|
RECEIVABLES TURNOVER |
TIMES |
5.87 |
5.39 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
26.61 |
25.89 |
|
CASH CONVERSION CYCLE |
DAYS |
67.65 |
77.65 |
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
80.45 |
81.86 |
|
SELLING & ADMINISTRATION |
% |
7.86 |
7.56 |
|
INTEREST |
% |
- |
0.04 |
|
GROSS PROFIT MARGIN |
% |
20.65 |
19.26 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.79 |
11.71 |
|
NET PROFIT MARGIN |
% |
12.79 |
11.66 |
|
RETURN ON EQUITY |
% |
14.82 |
14.97 |
|
RETURN ON ASSET |
% |
13.18 |
12.89 |
|
EARNING PER SHARE |
BAHT |
59.99 |
51.62 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.11 |
0.14 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.12 |
0.16 |
|
TIME INTEREST EARNED |
TIMES |
- |
262.99 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
5.92 |
|
|
OPERATING PROFIT |
% |
15.78 |
|
|
NET PROFIT |
% |
16.22 |
|
|
FIXED ASSETS |
% |
(6.04) |
|
|
TOTAL ASSETS |
% |
13.63 |
|
PROFITABILITY RATIO
|
Gross Profit Margin |
20.65 |
Impressive |
Industrial Average |
19.53 |
|
Net Profit Margin |
12.79 |
Impressive |
Industrial Average |
5.68 |
|
Return on Assets |
13.18 |
Impressive |
Industrial Average |
5.54 |
|
Return on Equity |
14.82 |
Impressive |
Industrial Average |
10.70 |
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 20.65%. 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 12.79%, 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
13.18%, 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 ratio
is 14.82%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY RATIO
|
Current Ratio |
6.63 |
Impressive |
Industrial Average |
1.99 |
|
Quick Ratio |
5.65 |
|
|
|
|
Cash Conversion Cycle |
67.65 |
|
|
|
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 6.63 times in 2010, increase from 3.93 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 higher, indicated that company
was an efficient operator in a dominant position within its industry.
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 5.65 times in 2010,
increase from 3.03 times, although excluding inventory so the company still
have good short-term financial strength.
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 68 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.11 |
Impressive |
Industrial Average |
0.61 |
|
Debt to Equity Ratio |
0.12 |
Impressive |
Industrial Average |
1.18 |
|
Times Interest Earned |
- |
|
Industrial Average |
5.79 |
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.11 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 |
2.46 |
Impressive |
Industrial Average |
2.28 |
|
Total Assets Turnover |
1.03 |
Acceptable |
Industrial Average |
1.38 |
|
Inventory Conversion Period |
32.11 |
|
|
|
|
Inventory Turnover |
11.37 |
Impressive |
Industrial Average |
7.97 |
|
Receivables Conversion Period |
62.15 |
|
|
|
|
Receivables Turnover |
5.87 |
Satisfactory |
Industrial Average |
7.01 |
|
Payables Conversion Period |
26.61 |
|
|
|
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.48.82 |
|
UK Pound |
1 |
Rs.78.57 |
|
Euro |
1 |
Rs.69.29 |
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.