MIRA INFORM REPORT
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Report Date : |
28.12.2012 |
IDENTIFICATION DETAILS
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Name : |
DUTCH MILL CO., LTD. |
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Registered Office : |
137/6 Moo 1, Putthamonthon Sai 8 Road, Khunkaew, Nakornchaisri, Nakornpathom 73120 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
27.01.1984 |
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Com. Reg. No.: |
0105527003992 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Distributor & Exporter of Dairy Products |
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No. of Employees : |
1,100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
With a well-developed infrastructure,
a free-enterprise economy, generally pro-investment policies, and strong export
industries,
Source : CIA
Company name
DUTCH
MILL CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 226, 228
TELEPHONE : [66] 2881-0000
FAX :
[66] 2435-0718
E-MAIL
ADDRESS : thailand@dutchmill.co.th
REGISTRATION
ADDRESS : 137/6
MOO 1, PUTTHAMONTHON
SAI 8 ROAD,
KHUNKAEW,
NAKORNCHAISRI, NAKORNPATHOM 73120
ESTABLISHED
: 1984
REGISTRATION
NO. : 0105527003992 [Former : 399/2527]
TAX
ID NO. : 3101310450
CAPITAL REGISTERED : BHT. 400,000,000
CAPITAL PAID-UP : BHT.
400,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PORNCHAI SAWADSUKSOBCHAI, THAI
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
NO.
OF STAFF : 1,100
LINES
OF BUSINESS : DAIRY
PRODUCTS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject was
established on January
27, 1984 as
a private limited
company under the
registered name “Profood
Co., Ltd.” by
Thai groups, with
the business objective
to manufacture wide
range of dairy
products to both
local and export
markets.
The subject is
a wholly owned
subsidiary of Promart
International Co., Ltd.
On August 2, 1991, its name
was changed to
DUTCH MILL CO., LTD. It currently
employs 1,100 staff.
The subject received the international standards ISO 9002 and ISO 14001
quality management certifications from
SGS Yarsley International
Certification Services, and
also received GMP certification from Food and Drug Administration, Ministry of
Public Health and
the HACCP from
the Food and
Drug Administration and Thai
Industrial Standards Institute.
The subject’s
registered address is
137/6 Moo 1, Putthamonthon Sai
8 Rd.,
Khunkaew, Nakornchaisri, Nakornpathom 73120, while
the current head office
address is at
226, 228 Krungthon Muangkaew
Building, Sirindorn Rd.,
Bangplad, Bangkok 10700.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Thirayudh Chaisawangwong |
[x] [*] |
Thai |
62 |
|
Mr. Boonchoo Tanchatchaval |
[x] [-] |
Thai |
64 |
|
Mr. Pornchai Sawadsuksobchai |
[x] [-] [*] |
Thai |
53 |
|
Mr. Thada Chaisawangwong |
[-] [*] |
Thai |
35 |
|
Mr. Vicharn Maneewong |
|
Thai |
41 |
AUTHORIZED PERSON
One of the
mentioned directors [*]
can jointly sign
with Mr. Vicharn Maneewong
or any two of the
directors [x] can
jointly sign, or
any two of
the directors [-]
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Pornchai Sawadsuksobchai is
the President and
Chief Executive Officer.
He is Thai
nationality with the
age of 53
years old.
Ms. Apiya Tantivipas
is the Senior
Product Manager.
She is Thai
nationality.
Ms. Supatmanee Srivalee
is the Marketing
Director.
She is Thai
nationality.
Mr. Khemadhut Kraivichien
is the Commercial
Business Manager.
He
is Thai nationality.
Mr. Thirachai Laokornsakul is
the Product Manager.
He
is Thai nationality.
Ms. Suwimon
Thanvarachorn is the
Director of The
Organization Communication Affairs.
She
is Thai nationality.
Mr. Thanakorn Pinyopab
is the Human
Resource Manager.
He
is Thai nationality.
Mr.
Poolsan Kongbunchee is
the Manufacturing Manager.
He
is Thai nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and marketing various
kinds of dairy
products as the
followings:
Product Brand
Pasteurized Yoghurt Drink “DUTCH MILL”
Pasteurized Non-fat Drinking Fermented Milk “DUTCH MILL”
Fresh Milk “DUTCH MILL”
Pasteurized Milk “DUTCH MILL”
Cup Yoghurt “DUTCHIE”
Pasteurized Soy Milk “DUTCH MILL”
Cultured Drinking Yoghurt “DELIGHT”, “KCI”
The subject also
provides manufacturing service
of pasteurized dairy
products under customer’s
brands.
PRODUCTION CAPACITY
172,000 tons per
annum
IMPORT [COUNTRIES]
Raw
materials such as
raw powder milk,
flavor and food
ingredient are imported
from Netherlands, Belgium,
Germany, France, Australia,
New Zealand, Korea,
Japan, Taiwan and
Republic of China.
MAJOR
SUPPLIERS
Sino-Pacific
Trading [
Thai
Plaspac Public Company
Limited :
SALES [LOCAL]
70% of the products is
sold locally by
wholesale to dealers
and supermarkets.
EXPORT [COUNTRIES]
30% of the
products is exported
to countries in
East Asia and
Southeast Asia such
as Singapore, Laos,
Malaysia, Philippines, Republic
of China, Brunei, Cambodia,
Maldives, Myanmar, Indonesia
and Vietnam.
MAJOR CUSTOMER
F & N Food Pte. Ltd. :
PARENT COMPANY
Promart International Co., Ltd.
Address
: 137/6
Moo 1, Putthamonthon Sai 8 Rd.,
Khunkaew, Nakornchaisri,
Nakornpathom 73120
RELATED COMPANY
Dairy Plus Co., Ltd.
Business Type: Manufacturer and
distributor of UHT beverages and
dairy products. DNA
soya
milk is a well-known
brand of Dairy Plus.
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 on the
credits term of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Pinklao Branch
:
Kasikornbank Public Co., Ltd.
[Bangyeekhan Branch]
Krung Thai Bank
Public Co., Ltd.
[Head Office
:
[Bangplad Branch
:
EMPLOYMENT
The
subject employs approximately
1,100 staff. [office,
sales staff and
factory workers]
LOCATION DETAILS
The premise is
rented for head
office at the
heading address. Premise
is located in
residential/commercial area.
Factory is located
at 137/6 Moo 1, Putthamonthon Sai 8 Rd.,
Khunkaew, Nakornchaisri, Nakornpathom 73120, on
the land area
of 72,000 square
meters.
There are 11 branches
in
-
114/13
Bangchak, Prakanong,
-
-
115/105
Moo 11, Chimplee,
Talingchan,
-
83/44
Moo 1, Soi
Sirimongkol, Kannayao,
-
63 Moo 6,
Rajathewa, Bangplee, Samutprakarn
-
-
-
-
111 Moo 3,
Nakornchaisri, Nakornpathom
-
137/8
Moo 1, Putthamonthon
Sai 8 Rd.,
Khunkaew, Nakornchaisri,
Nokornpathom 73120
-
137/9
Moo 1, Putthamonthon
Sai 8 Rd.,
Khunkaew, Nakornchaisri,
Nokornpathom 73120
REMARK
MAXIMUM CREDIT
SHOULD BE GRANTED
AT EUR 15,000,000.
NOTE
In February
2013, the head
office will be
moved to Sathorn
Road, the heart
of Bangkok area.
COMMENT
Subject
is one of the
country’s leading in
distributing of daily
products. It has performed
well with its
annual sales more
than US250 million.
The consumer daily products
market is very
competitive and the
company’s products “Dutch
Mill” is well-known
and recognized by
Thai consumers. There are
many brands in
the market, but Dutch Mill is one of a
few major players in the market which
has strong growth.
Subject maintains its
solid business and sales
have been increasing each year.
FINANCIAL INFORMATION
The capital was registered
at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each with
fully paid.
The capital was
increased later as
followings:
Bht. 5
million on May
3, 1985
Bht. 10
million on June
16, 1987
Bht. 20
million on May
29, 1989
Bht. 30
million on February
5, 1992
Bht. 100
million on February
25, 1999
Bht. 400
million on December
15, 2000
The latest registered capital
was increased to Bht. 400 million,
divided into 4,000,000 shares
of Bht. 100
each with fully
paid.
THE LISTS OF
SHAREHOLDERS WERE: [as
at April 24,
2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Promart International Co., Ltd. Nationality: Thai Address : 137/6
Moo 1, Putthamonthon Sai
8 Rd.,
Khunkaew, Nakornchaisri,
Nakornpathom 73120 |
3,999,989 |
100.00 |
|
Mr. Thirayudh
Chaisawangwong Nationality: Thai Address : 110/27
Moo 3,
Khunkaew, Nakornchaisri, Nakornpathom |
1 |
- |
|
Mr. Boonchoo Tanchatchaval Nationality: Thai Address : 4/905 Moo 4, Sukhapibal 2 Rd.,
Klongkum, Buengkum, |
1 |
- |
|
Mr. Somkiat Yokpisuthiporn Nationality: Thai Address : 21/37
Samsennai, Phyathai, |
1 |
- |
|
Mr. Jirasak
Chalermsirikul Nationality: Thai Address : 172/20 Sukhumvit 23 Rd., Klongtoey,
Wattana, |
1 |
- |
|
Mr. Kinzo
Zato Nationality: Japanese Address :
|
1 |
- |
|
Mrs. Lakhana
Thothong Nationality:
Thai Address
:
|
1 |
- |
|
Ms. Duangdao Chaisawangwong Nationality:
Thai Address
: 110/27 Moo 3,
Khunkaew, Nakornchaisri, Nakornpathom |
1 |
- |
|
Mr. Vorawat
Kiratisewee Nationality:
Thai Address
: 99/135 Moo
3, Ladyao, Jatujak,
|
1 |
- |
|
Mrs. Duangchan Akralawan Nationality: Thai Address : 21/493 Moo 10, Salathamsop, Talingchan,
|
1 |
- |
|
Mr. Tanakorn Jaruphat Nationality: Thai Address : |
1 |
- |
|
Mr. Pornchai
Sawadsuksobchai Nationality: Thai Address : 7/568
Moo 9,
Taweewatana, |
1 |
- |
Total Shareholders : 12
Share Structure [as
at April 24,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
11 |
3,999,999 |
100.00 |
|
Foreign-Japanese |
1 |
1 |
- |
|
Total |
12 |
4,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Sakuna Yaemsakul No.
4906
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash in Hand
& at Bank |
67,616,949 |
89,425,497 |
|
Trade Accounts & Other
Receivable |
728,956,786 |
657,092,571 |
|
Inventories |
827,725,698 |
619,273,685 |
|
Other Current Assets
|
48,066,225 |
50,895,669 |
|
|
|
|
|
Total Current Assets
|
1,672,365,658 |
1,416,687,422 |
|
Fixed Assets |
1,545,072,763 |
1,445,390,483 |
|
Other Non-current Assets |
5,965,777 |
3,842,778 |
|
Total Assets |
3,223,404,198 |
2,865,920,683 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Short-term Loan-Related Company |
250,000,000 |
125,000,000 |
|
Trade Accounts & Other
Payable |
556,816,332 |
582,830,786 |
|
Accrued Expenses |
198,577,261 |
200,810,580 |
|
Current Portion of Long-term
Lease Contract |
35,493,918 |
38,559,530 |
|
Accrued Income Tax |
58,041,643 |
84,342,632 |
|
Other Current Liabilities |
20,785,226 |
15,180,165 |
|
|
|
|
|
Total Current Liabilities |
1,119,714,380 |
1,046,723,693 |
|
Long-term Lease Contract |
53,998,956 |
81,467,720 |
|
Liabilities Employee
Benefits |
4,580,310 |
- |
|
Total Liabilities |
1,178,293,646 |
1,128,191,413 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 4,000,000 shares |
400,000,000 |
400,000,000 |
|
|
|
|
|
Capital Paid |
400,000,000 |
400,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
40,000,000 |
40,000,000 |
|
Unappropriated |
1,605,110,552 |
1,297,729,270 |
|
Total Shareholders' Equity |
2,045,110,552 |
1,737,729,270 |
|
Total Liabilities & Shareholders' Equity |
3,223,404,198 |
2,865,920,683 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales |
7,477,390,176 |
6,592,237,945 |
|
Other Income |
42,036,367 |
16,498,864 |
|
Interest Income |
959,787 |
1,322,281 |
|
Total Revenues |
7,520,386,330 |
6,610,059,090 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
5,020,814,675 |
4,351,728,222 |
|
Selling Expenses |
1,280,694,060 |
1,012,565,060 |
|
Administrative Expenses |
768,186,011 |
722,647,250 |
|
Total Expenses |
7,069,694,746 |
6,086,940,532 |
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
450,691,584 |
523,118,558 |
|
Financial Cost |
[7,121,644] |
[4,814,334] |
|
Profit before Income
Tax |
443,569,940 |
518,304,224 |
|
Income Tax |
[136,188,658] |
[155,477,431] |
|
|
|
|
|
Net Profit / [Loss] |
307,381,282 |
362,826,793 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.49 |
1.35 |
|
QUICK RATIO |
TIMES |
0.71 |
0.71 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.84 |
4.56 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.32 |
2.30 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
60.17 |
51.94 |
|
INVENTORY TURNOVER |
TIMES |
6.07 |
7.03 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
35.58 |
36.38 |
|
RECEIVABLES TURNOVER |
TIMES |
10.26 |
10.03 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
40.48 |
48.88 |
|
CASH CONVERSION CYCLE |
DAYS |
55.28 |
39.44 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
67.15 |
66.01 |
|
SELLING & ADMINISTRATION |
% |
27.40 |
26.32 |
|
INTEREST |
% |
0.10 |
0.07 |
|
GROSS PROFIT MARGIN |
% |
33.43 |
34.26 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.03 |
7.94 |
|
NET PROFIT MARGIN |
% |
4.11 |
5.50 |
|
RETURN ON EQUITY |
% |
15.03 |
20.88 |
|
RETURN ON ASSET |
% |
9.54 |
12.66 |
|
EARNING PER SHARE |
BAHT |
76.85 |
90.71 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.37 |
0.39 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.58 |
0.65 |
|
TIME INTEREST EARNED |
TIMES |
63.28 |
108.66 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
13.43 |
|
|
OPERATING PROFIT |
% |
(13.85) |
|
|
NET PROFIT |
% |
(15.28) |
|
|
FIXED ASSETS |
% |
6.90 |
|
|
TOTAL ASSETS |
% |
12.47 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
33.43 |
Impressive |
Industrial
Average |
21.06 |
|
Net Profit Margin |
4.11 |
Satisfactory |
Industrial
Average |
4.61 |
|
Return on Assets |
9.54 |
Satisfactory |
Industrial
Average |
11.83 |
|
Return on Equity |
15.03 |
Acceptable |
Industrial
Average |
27.31 |
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 33.43%. 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 4.11%.
When compared with the industry average, the ratio of the company was lower.
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 9.54%.
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 15.03%.
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 |
1.49 |
Impressive |
Industrial
Average |
1.33 |
|
Quick Ratio |
0.71 |
|
|
|
|
Cash Conversion Cycle |
55.28 |
|
|
|
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 1.49 times in 2011, increased from 1.35 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 0.71 times in 2011,
same figure as 0.71 times
in 2010, 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 56 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE RATIO
|
Debt Ratio |
0.37 |
Impressive |
Industrial
Average |
0.48 |
|
Debt to Equity Ratio |
0.58 |
Impressive |
Industrial
Average |
1.03 |
|
Times Interest Earned |
63.28 |
Impressive |
Industrial
Average |
13.42 |
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 63.29 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 Downtrend
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.84 |
Satisfactory |
Industrial
Average |
5.53 |
|
Total Assets Turnover |
2.32 |
Satisfactory |
Industrial
Average |
2.66 |
|
Inventory Conversion Period |
60.17 |
|
|
|
|
Inventory Turnover |
6.07 |
Satisfactory |
Industrial
Average |
6.36 |
|
Receivables Conversion Period |
35.58 |
|
|
|
|
Receivables Turnover |
10.26 |
Impressive |
Industrial
Average |
7.75 |
|
Payables Conversion Period |
40.48 |
|
|
|
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.54.84 |
|
|
1 |
Rs.88.55 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.