MIRA
INFORM REPORT
|
Report Date : |
30.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
FACINGSTONE
LIMITED |
|
|
|
|
Registered Office : |
1st-2nd Floor, Victoria Building, 224/4 Muangthong Thani 3 Village, Bondstreet Road, T. Bangpood, A. Pakkred, Nonthaburi 11120 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
05.09.2002 |
|
|
|
|
Com. Reg. No.: |
0125545007724 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Stone
Decoration Contractor |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Not Yet started Business |
|
|
|
|
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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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
FACINGSTONE LIMITED
SUMMARY
BUSINESS
ADDRESS : 1st-2nd FLOOR,
VICTORIA BUILDING,
224/4 MUANGTHONG
THANI 3 VILLAGE,
BONDSTREET
ROAD, T. BANGPOOD,
A. PAKKRED,
NONTHABURI 11120
TELEPHONE : [66] 2960-0490-2
FAX :
[66] 2960-0493
E-MAIL
ADDRESS : hsn-info@hinsaengnakorn.co.th
REGISTRATION
ADDRESS : 216/220 SONGKLA
2 BUILDING, BONDSTREET
ROAD, T. BANGPOOD,
A. PAKKRED,
NONTHABURI 11120.
ESTABLISHED
: 2002
REGISTRATION
NO. : 0125545007724
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI : 51%
FOREIGNER :
49%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. FREDERIK HENDRIK
ARISEN, DUTCH
MANAGING DIRECTOR
NO.
OF STAFF : -
LINES
OF BUSINESS : STONE
DECORATION CONTRACTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : NO
ACTIVITY
REPUTATION : -
MANAGEMENT
STANDARD : -
HISTORY
The
subject was established
on September 5, 2002
as a private
limited company under the
registered name FACINGSTONE
LIMITED, by Thai and Foreign groups, with
the business objective to provide
stone decorating service for construction project.
However, its business
currently has not
yet started.
The
subject’s registered address
is 216/220 Songkla
2 Building, Bondstreet
Rd.,
T. Bangpood,
A. Pakkred, Nonthaburi 11120,
while the current
operation address is
at 224/4 Victoria
Building, Muangthong Thani
3 Village, Bondstreet
Rd., T. Bangpood,
A.
Pakkred, Nonthaburi 11120.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Jacob Kuipers |
|
Dutch |
65 |
|
Mr. Frederik Hendrik Ariesen |
|
Dutch |
62 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Frederik Hendrik Ariesen
is the Managing
Director.
He is Dutch
nationality with the
age of 62
years old.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in residential
area, on the
outskirts of Bangkok.
Note.
The
business address is
shared with Hin
Saeng Nakorn Co.,
Ltd., which is
the subject’s related
company.
COMMENT
The
subject has been
established in 2002. Since
establishment the subject
has not yet
started its operation.
Subject reported its
income from interest. Any
business engagement is not
recommended.
FINANCIAL INFORMATION
The
capital was registered at Bht. 1,000,000 divided into 10,000 shares of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2011]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Surachai Krachangjaem Nationality: Thai Address : 32/123
Moo 1, Klongklua,
Pakkred,
Nonthaburi |
5,100 |
51.00 |
|
Mr. Jacob Kuipers Nationality: Dutch Address : Hanoi,
Vietnam |
2,000 |
20.00 |
|
Mr. Frederik Hendrik Ariesen Nationality: Dutch Address : 216/220
Bonstreet Rd., T. Bangpood, A.
Pakkred, Nonthaburi |
2,000 |
20.00 |
|
Mr. Roberto Pisani Nationality: Italian Address : Avanza,
Italy |
225 |
2.25 |
|
Mr. Sean Joseph Lyndon Nationality: Irish Address : Dublin,
Oreland |
225 |
2.25 |
|
Mr. Philippe Hul Nationality: Belgian Address : Brussels,
Belgium |
225 |
2.25 |
|
Mr. Stanley Ricardo Hubert
Kolader Nationality: Dutch Address : Netherlands |
225 |
2.25 |
Total Shareholders : 7
Share Structure [as
at April 30,
2011]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
5,100 |
51.00 |
|
Foreign |
6 |
4,900 |
49.00 |
|
Total |
7 |
10,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Vathanyu Kampeerapakorn No.
8231
Note.
The 2011 financial statement has yet been submitted to the Commercial Registration Department during investigation.
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2010 &
2009 were:
ASSETS
|
Current Assets |
2010 |
2009 |
|
|
|
|
|
Cash and Cash
Equivalent |
33,940.22 |
21,600.22 |
|
Other Current Assets |
40,000.00 |
40,000.00 |
|
|
|
|
|
Total Current Assets
|
73,940.22 |
61,600.22 |
|
|
|
|
|
Loan to Directors |
1,000,000.00 |
1,000,000.00 |
|
Total Assets |
1,073,940.22 |
1,061,600.22 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
|
|
|
|
|
Other Current Liabilities |
7,660.00 |
7,660.00 |
|
|
|
|
|
Total Current Liabilities |
7,660.00 |
7,660.00 |
|
Total Liabilities |
7,660.00 |
7,660.00 |
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
|
|
|
|
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning Unappropriated |
66,280.22 |
53,940.22 |
|
Total Shareholders' Equity |
1,066,280.22 |
1,053,940.22 |
|
Total Liabilities & Shareholders' Equity |
1,073,940.22 |
1,061,600.22 |
PROFIT & LOSS ACCOUNT
|
Sale |
2010 |
2009 |
|
|
|
|
|
Interest Income |
20,000.00 |
20,000.00 |
|
Total Sales |
20,000.00 |
20,000.00 |
|
Expenses |
|
|
|
|
|
|
|
Administrative Expenses |
7,660.00 |
7,660.00 |
|
Total Expenses |
7,660.00 |
7,660.00 |
|
|
|
|
|
Net Profit / [Loss] |
12,340 |
12,340 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
9.65 |
8.04 |
|
QUICK RATIO |
TIMES |
4.43 |
2.82 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
- |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
- |
- |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
- |
|
RECEIVABLES TURNOVER |
TIMES |
- |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
- |
|
CASH CONVERSION CYCLE |
DAYS |
- |
- |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
- |
- |
|
SELLING & ADMINISTRATION |
% |
- |
- |
|
INTEREST |
% |
- |
- |
|
GROSS PROFIT MARGIN |
% |
- |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
- |
|
NET PROFIT MARGIN |
% |
- |
- |
|
RETURN ON EQUITY |
% |
1.16 |
1.17 |
|
RETURN ON ASSET |
% |
1.15 |
1.16 |
|
EARNING PER SHARE |
BAHT |
1.23 |
1.23 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.01 |
0.01 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.01 |
0.01 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
- |
|
|
OPERATING PROFIT |
% |
- |
|
|
NET PROFIT |
% |
- |
|
|
FIXED ASSETS |
% |
- |
|
|
TOTAL ASSETS |
% |
1.16 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial
Average |
20.80 |
|
Net Profit Margin |
- |
|
Industrial
Average |
2.96 |
|
Return on Assets |
1.15 |
Deteriorated |
Industrial
Average |
4.52 |
|
Return on Equity |
1.16 |
Deteriorated |
Industrial
Average |
9.24 |
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. When compared with the
industry average, it was lower, the company's figure is 1.15%.
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 1.16%.
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 |
9.65 |
Impressive |
Industrial
Average |
1.76 |
|
Quick Ratio |
4.43 |
|
|
|
|
Cash Conversion Cycle |
- |
|
|
|
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 9.65 times in 2010, increase from 8.04 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 4.43 times in 2010,
increase from 2.82 times, although excluding inventory so the company still
have good short-term financial strength.
Trend of the average
competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE RATIO
|
Debt Ratio |
0.01 |
Impressive |
Industrial
Average |
0.47 |
|
Debt to Equity Ratio |
0.01 |
Impressive |
Industrial
Average |
0.95 |
|
Times Interest Earned |
- |
|
Industrial
Average |
4.05 |
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 0.01 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 |
- |
|
Industrial Average |
3.60 |
|
Total Assets Turnover |
- |
|
Industrial Average |
1.53 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
5.65 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
3.48 |
|
Payables Conversion Period |
- |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.68 |
|
UK Pound |
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.69.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.