MIRA
INFORM REPORT
|
Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CARERY
SUPPLY LIMITED PARTNERSHIP |
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|
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Registered Office : |
199/7
Moo 5, T. Pluakdaeng, A. Pluakdaeng, Rayong 21140 |
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Country : |
Thailand |
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Financials (as on) : |
30.09.2011 |
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Date of Incorporation : |
14.10.2009 |
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Com. Reg. No.: |
0213552002349 |
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Legal Form : |
Limited
Partnership |
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Line of Business : |
Distributor of industrial equipment,
tools and supplies |
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No. of Employees : |
Not available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Stopped Operating Temporarily |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
thailand - ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy,
generally pro-investment policies, and strong export industries, Thailand
enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as
it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly
machinery and electronic components, agricultural commodities, and jewelry -
continue to drive the economy, accounting for more than half of GDP. The global
financial crisis of 2008-09 severely cut Thailand's exports, with most sectors
experiencing double-digit drops. In 2009, the economy contracted 2.3%. In 2010,
Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports
rebounded from their depressed 2009 level. Steady economic growth at just below
4% during the first three quarters of 2011 was interrupted by historic flooding
in October and November in the industrial areas north of Bangkok, crippling the
manufacturing sector and leading to a revised growth rate of only 0.1% for the
year. The industrial sector is poised to recover from the second quarter of
2012 onward, however, and the government anticipates the economy will probably
grow between 5.5 and 6.5% for 2012, while private sector forecasts range
between 3.8% and 5.7%.
|
Source : CIA |
Company name
CARERY SUPPLY LIMITED
PARTNERSHIP
SUMMARY
BUSINESS
ADDRESS : 199/7
MOO 5, T. PLUAKDAENG, A. PLUAKDAENG,
RAYONG 21140,
THAILAND
TELEPHONE : [66] 38
913-901, 38 025-978
FAX :
[66] 38
913-901
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2009
REGISTRATION
NO. : 0213552002349
TAX
ID NO. : 3033662931
CAPITAL REGISTERED : BHT. 500,000
CAPITAL PAID-UP : BHT.
500,000
PARTNER’S
PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : SEPTEMBER 30
LEGAL
STATUS : LIMITED
PARTNERSHIP
EXECUTIVE : MS. JINTHANA TADEE,
THAI
MANAGING PARTNER
NO.
OF STAFF : -
LINES
OF BUSINESS : INDUSTRIAL EQUIPMENT,
TOOLS AND
SUPPLIES
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : -
PRESENT
SITUATION : STOP
OPERATING TEMPORARILY
REPUTATION : -
MANAGEMENT
STANDARD : -
HISTORY
The
subject was established
on October 14,
2009 as a
limited partnership under
the originally registered
name “Hot Marking
International Limited Partnership”, with
the business objective
to distribute various
industrial equipment, tools
and supplies for
general industry. On
December 23, 2010, its
registered name was
changed to CARERY
SUPPLY LIMITED PARTNERSHIP. However,
the subject has temporarily stopped
its activity since the
end of 2010.
The
subject’s registered address
is 199/7 Moo
5, T. Pluakdaeng, A. Pluakdaeng, Rayong
21140.
AUTHORIZED PERSON
Ms. Jinthana Tadee signs
on behalf of
the subject with
seal affixed. She
also bears full
financial responsibility by
law.
MANAGEMENT
Ms. Jinthana Tadee is
the Managing Partner.
She is Thai
nationality with the
age of 32
years old.
COMMENT
Subject
has temporarily stopped its
business activity since
the end of
2010. Subject disclosed
low sale revenue
in 2010, while there
was a zero
revenue for 2011. Any
business engagement is not
recommended.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 500,000 which
was carried by 2 persons
as followed:
Name Amount
Mr. Visith Tibboonsri Bht. 250,000 [Unlimited Partner]
[Address :
5 T. Mabyangporn, A. Pluakdaeng, Rayong
21140]
Mrs. Thongpoon Tibboonsri Bht. 250,000
[Address :
5 T. Mabyangporn, A. Pluakdaeng, Rayong
21140]
On December 23,
2010, the capital
was carried by
2 persons as
followed:
Name Age Amount
Mr. Visith Tibboonsri 47 Bht. 250,000
[Address :
5 T. Mabyangporn, A. Pluakdaeng, Rayong
21140]
Ms. Jinthana Tadee 32 Bht. 250,000 [Unlimited Partner]
[Address :
142/2 Moo 4, T.
Maehoingern, A. Doisaked, Chiangmai
50110]
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Kamolwan Supanyadechakul No.
4947
BALANCE SHEET [BAHT]
The
latest financial figures
published for September
30, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
466,332.46 |
549,871.08 |
|
Inventories |
67,183.93 |
- |
|
Other Current Assets
|
1,228.74 |
- |
|
|
|
|
|
Total Current Assets
|
534,745.13 |
549,871.08 |
|
|
|
|
|
Fixed Assets |
5,778.58 |
3,624.33 |
|
Total Assets |
540,523.71 |
553,495.41 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Other Current Liabilities |
4,099.00 |
6,000.00 |
|
|
|
|
|
Total Current Liabilities |
4,099.00 |
6,000.00 |
|
Total Liabilities |
4,099.00 |
6,000.00 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Capital Paid |
500,000.00 |
500,000.00 |
|
Retained Earning - Unappropriated |
36,424.71 |
47,495.41 |
|
Total Shareholders' Equity |
536,424.71 |
547,495.41 |
|
Total Liabilities & Shareholders' Equity |
540,523.71 |
553,495.41 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
Oct. 14,
2009 – Sept. 30,
2010 |
|
|
|
|
|
Sales |
- |
104,500.00 |
|
Other Income |
0.48 |
1.18 |
|
Total Revenues |
0.48 |
104,501.18 |
|
Expenses |
|
|
|
|
|
|
|
Administrative Expenses |
11,071.18 |
- |
|
Purchase for Goods |
- |
48,534.10 |
|
Depreciation |
- |
275.67 |
|
Other Expense |
- |
8,196.00 |
|
Total Expenses |
11,071.18 |
57,005.77 |
|
|
|
|
|
Profit / [Loss] before Income Tax |
[11,070.70] |
47,495.41 |
|
Income Tax |
- |
- |
|
|
|
|
|
Net Profit / [Loss] |
[11,070.70] |
47,495.41 |
|
Retained Earning,
Beginning of Year |
47,495.41 |
- |
|
Retained Earning, End
of Year |
36,424.71 |
47,495.41 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
130.46 |
91.65 |
|
QUICK RATIO |
TIMES |
113.77 |
91.65 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
- |
28.83 |
|
TOTAL ASSETS TURNOVER |
TIMES |
- |
0.19 |
|
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 |
% |
- |
46.44 |
|
SELLING & ADMINISTRATION |
% |
- |
0.26 |
|
INTEREST |
% |
- |
- |
|
GROSS PROFIT MARGIN |
% |
- |
53.56 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
45.45 |
|
NET PROFIT MARGIN |
% |
- |
45.45 |
|
RETURN ON EQUITY |
% |
(2.06) |
8.68 |
|
RETURN ON ASSET |
% |
(2.05) |
8.58 |
|
EARNING PER SHARE |
BAHT |
(2.21) |
9.50 |
|
|
|
|
|
|
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 |
% |
(100.00) |
|
|
OPERATING PROFIT |
% |
(123.31) |
|
|
NET PROFIT |
% |
(123.31) |
|
|
FIXED ASSETS |
% |
59.44 |
|
|
TOTAL ASSETS |
% |
(2.34) |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial
Average |
15.74 |
|
Net Profit Margin |
- |
|
Industrial
Average |
1.55 |
|
Return on Assets |
(2.05) |
Deteriorated |
Industrial
Average |
2.93 |
|
Return on Equity |
(2.06) |
Deteriorated |
Industrial
Average |
7.57 |
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 -2.05%.
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 -2.06%.
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 |
130.46 |
Impressive |
Industrial
Average |
1.63 |
|
Quick Ratio |
113.77 |
|
|
|
|
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 130.46 times in 2011, increased from 91.65 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 113.77 times in 2011,
increased from 91.65 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 Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.01 |
Impressive |
Industrial
Average |
0.61 |
|
Debt to Equity Ratio |
0.01 |
Impressive |
Industrial
Average |
1.59 |
|
Times Interest Earned |
- |
|
Industrial
Average |
2.88 |
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 Downtrend
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
- |
|
Industrial
Average |
7.82 |
|
Total Assets Turnover |
- |
|
Industrial
Average |
1.89 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial
Average |
4.22 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial
Average |
4.85 |
|
Payables Conversion Period |
- |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.86 |
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.