MIRA INFORM REPORT
|
Report Date : |
29.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
S.A. PETROTECH CO., LTD. |
|
|
|
|
Registered Office : |
17th Floor, Cti Tower, 191/58 Ratchadapisek Road, Klongtoey, Bangkok 10110 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1988 |
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|
|
|
Com. Reg. No.: |
0105531027388 [Former :
2744/2531] |
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|
|
|
Legal Form : |
PRIVATE LIMITED COMPANY |
|
|
|
|
Line of Business : |
Importer & Distributor of Engineering and Industrial
Equipment |
|
|
|
|
No. of Employees : |
60 |
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 – 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 |
|
Restricted |
C2 |
|
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
S.A. PETROTECH
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 17th
FLOOR, CTI TOWER,
191/58
RATCHADAPISEK ROAD, KLONGTOEY,
BANGKOK
10110, THAILAND
TELEPHONE : [66] 2661-9966-75
FAX : [66] 2661-9981-3
E-MAIL ADDRESS : sales@sapetrotech.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1988
REGISTRATION NO. : 0105531027388 [Former
: 2744/2531]
TAX ID NO. : 3101514421
CAPITAL REGISTERED : BHT. 95,000,000
CAPITAL PAID-UP : BHT. 95,000,000
SHAREHOLDER’S PROPORTION : THAI
:
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOMSAK TRONGWONGSA, THAI
MANAGING DIRECTOR
NO. OF STAFF : 60
LINES OF BUSINESS : ENGINEERING AND
INDUSTRIAL EQUIPMENT
IMPORTER &
DISTRIBUTOR
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 April 19,
1988 as a
private limited company
under the name
style S.A. PETROTECH CO., LTD. by
Thai group, Trongwongsa
family. Its activity began
from supplying spare
parts, seals for
process pumps and
compressors.
In 1994, the
subject received an
authorization to distribute
VELAN and SANDVIK, the
world’s leading in
valves technology to oil
& gas and petrochemical industries. Presently,
the subject is
an importer and
distributor various kinds
of engineering and
industrial equipment for
petrochemical, petroleum and gas
industry. It currently
employs approximately 60
staff.
The subject’s registered
address is 17th Flr.,
CTI Tower, 191/58
Ratchadapisek Rd., Klongtoey,
Bangkok 10110, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
Nationality |
Age |
|
|
|
|
|
Mr. Somsak Trongwongsa |
Thai |
59 |
|
Mrs. Achara Trongwongsa |
Thai |
58 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Somsak Trongwongsa
is the Managing
Director.
He is Thai
nationality with the
age of 59
years old.
Mrs. Achara Trongwongsa
is the Deputy
Managing Director.
She is Thai
nationality with the
age of 58
years old.
Mrs. Morakot Jintanavasant is
the Sales &
Marketing Manager.
She is Thai
nationality.
Mr. Pornlert Pongsattha
is the Branch
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activities
are importing, distributor
and supplier various
kinds of engineering
& industrial equipment
for petrochemical, petroleum
and gas industries.
Range of
the products are as follows:
|
Brand |
Products |
|
|
|
|
“HMD”, “ITUR”, “VICARB” |
- High alloy pumps,
PVDF lined pumps & graphite
pumps. |
|
“SANDVIK”, “SUMITOMO”,
“SIDERCA”, “BENTELER” |
- Stainless, alloy steel
& carbon steel
pipes instrument |
|
“SANDVIK”, “BENTELER” |
- Boiler & heat
exchanger tube |
|
“ROTORK- ACTUATION”, “VELAN”, “OMB” |
- Cast and forge
steel valve, gear
& actuator fitting
[forged & buttweld] |
|
“ULMA”, “ENARA” |
- Flange & Forge fitting |
|
“OME” |
- Studs-bolts & heavy hex nuts |
|
“KLINGER” |
- Gasket – carbon, monel, eflon, graflex, stainless |
|
“HOKE”, “MARIMATECH” |
- Metering valves, sampling
cylinders, needle valves,
tube fittings, value, value actuator and instruments |
|
“COPPUS” |
- Exhaust & ventilating
fan & explosion
proof fan |
|
“NEWAY” |
- Valve system equipment |
|
& etc. |
|
PURCHASE
80% of its
products is imported
form Japan, Germany, United
States of America, United Kingdom,
France, Italy, Australia,
Spain, Korea, and
Republic of China,
the remaining 20% is purchased
from local suppliers
and agents.
MAJOR SUPPLIERS
|
Name |
Country |
|
Gold Valve Industrial
Ltd. |
: Korea |
|
Kitamura Valve Manufacturing Co., Ltd. |
: Japan |
|
Koch International S.P.A. |
: Italy |
|
MAC Michael Gasket
Ltd. |
: United Kingdom |
|
Great Planis Ltd. |
: Australia |
|
Metal Far S.P.A. |
: Italy |
|
Deltinox Ltd. |
: France |
|
Heaton Value Ltd. |
: United Kingdom |
|
Hoke Inter Corp. |
: United Kingdom |
|
Neway Valve [Suzhou]
Co., Ltd. |
: Republic of China |
|
Schmidt & Clemens GmbH. |
: Germany |
|
HMD Sealless Pump
Ltd. |
: United Kingdom |
|
Fukui Seisakusho Co.,
Ltd. |
: Japan |
SALES [LOCAL]
100% of its
products is sold
locally to Thai
Government, manufacturers and wholesalers.
MAJOR CUSTOMERS
|
Name |
Country |
|
Thai Oil Public
Company Limited |
: Thailand |
|
Bangchak Petroleum Public Co., Ltd. |
: Thailand |
|
PTT Public Company
Limited |
: Thailand |
|
ABB Ltd. |
: Thailand |
|
IRPC Public Company
Limited |
: Thailand |
|
SCG Group |
: Thailand |
|
Esso [Thailand] Public
Company Limited |
: Thailand |
|
Chevron Group |
: Thailand |
|
& etc. |
|
SUBSIDIARIES & AFFILIATED COMPANIES
Eastern Estate Development Co., Ltd.
Business Type: Land developer
Petromat Co., Ltd.
Business Type: Import &
distributor of petrochemical equipment
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
according to IRICO’S
DATABASE 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 on the
credits term of
90-120 days &
T/T.
BANKING
Bangkok Bank Public Co.,
Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
The Siam Commercial Bank Public
Co., Ltd.
[Head Office
: 9 Ratchadapisek
Rd., Ladyao, Jatujak,
Bangkok 10900]
TMB Bank Public
Co., Ltd.
[Head Office
: 3000 Phaholyothin
Rd., Ladyao, Jatujak,
Bangkok 10900]
Deutsche Bank AG.
[Bangkok Office : 208
Wireless Rd., Lumpini,
Pathumwan, Bangkok 10330]
EMPLOYMENT
The subject employs
approximately 60 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is rented
for administrative office
at the heading
address. Premise is located
on 400 square meters of area
in commercial/residential area.
Branch & warehouse
are located at 111 Moo 6, T.
Mab-Kha, A. Nikompattana,
Rayong. Total Area:
3,200 square meters
Tel : [66] 38 692-204-5 Fax
: [66] 38
682-256.
COMMENT
The company has
become a leading
in engineering service
especially in petrochemical, refinery and power plants. The company emphasizes
on material and spare parts
for fitting, valve, gasket,
joint, heat exchanger,
pumps and etc.
The company has gradually grown
to become one of
the leading distributors
in mechanical field,
piping system and
special materials for
the industries in
the Kingdom of Thailand.
FINANCIAL INFORMATION
The capital was
registered at Bht.
2,000,000 divided into
10,000 shares of
Bht. 200 each.
The capital was
increased later as
follows :
Bht. 10,000,000 on
September 15, 1993
Bht. 95,000,000 on
August 27, 1999
The latest registered
capital was increased
to Bht. 95,000,000 divided
into 95,000 shares
of Bht. 1,000
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE
[ as at April
30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Somsak Trongwongsa Nationality: Thai Address : 25 Yenarkart
Rd., Chongnonsee,
Yannawa, Bangkok 10120 |
34,000 |
35.79 |
|
Mrs. Achara Trongwongsa Nationality: Thai Address : 25 Yenarkart
Rd., Chongnonsee,
Yannawa, Bangkok 10120 |
30,500 |
32.10 |
|
Ms. Kanokrat Trongwongsa Nationality: Thai Address : 25 Yenarkart
Rd., Chongnonsee, Yannawa, Bangkok
10120 |
13,600 |
14.32 |
|
Ms. Nathaporn Trongwongsa Nationality: Thai Address : 25 Yenarkart
Rd., Chongnonsee,
Yannawa, Bangkok 10120 |
12,900 |
13.58 |
|
Mrs. Uraisri Khumthampinij Nationality: Thai Address : 144/120 Thanurat
Rd., Tungwatdon,
Yannawa, Bangkok 10120 |
1,500 |
1.58 |
|
Ms. Chanthana Silpvisuth Nationality: Thai Address : 58/60 Moo 11,
Ladprao Rd., Ladyao,
Jatujak, Bangkok 10900 |
1,500 |
1.58 |
|
Ms. Srivilai Trongwongsa Nationality: Thai Address : 115 South Sathorn
Rd., Yannawa,
Bangkok 10120 |
1,000 |
1.05 |
Total Shareholders : 7
Share Structure
[as at April
30, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
95,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
95,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT
NO.
Mrs. Jitjong Srivacharakul
No. 552
BALANCE SHEET [BAHT]
The latest financial
figures published for
December 31, 2011
& 2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
77,745,607.21 |
81,986,462.60 |
|
Trade Accounts Receivable
|
278,521,049.27 |
290,366,642.61 |
|
Short-term Loan to Person
or Related Company |
6,539,323.64 |
3,830,960.09 |
|
Short-term Loan to Person
or Other Company |
22,000,000.00 |
- |
|
Inventories |
208,696,137.12 |
250,845,705.54 |
|
Other Current Assets
|
19,728,737.59 |
12,862,327.97 |
|
|
|
|
|
Total Current Assets
|
613,230,854.83 |
639,892,098.81 |
|
|
|
|
|
Other Long-term Investment |
8,874,675.00 |
7,680,000.00 |
|
Fixed Assets |
30,689,623.02 |
35,232,684.45 |
|
Other Non-current Assets |
336,500.00 |
336,500.00 |
|
Total Assets |
653,131,652.85 |
683,141,283.26 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Bank Overdraft from Financial Institutions |
122,095,936.20 |
70,498,858.65 |
|
Trade Accounts Payable |
277,369,003.87 |
368,626,069.94 |
|
Other Current Liabilities |
15,293,611.23 |
18,617,993.60 |
|
|
|
|
|
Total Current Liabilities |
414,758,551.30 |
457,742,962.19 |
|
|
|
|
|
Long-term Loan from Person or Related Company |
53,200,000.00 |
44,486,416.11 |
|
Total Liabilities |
467,958,551.30 |
502,229,378.30 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 1,000
value authorized, issued
and fully paid share
capital 95,000 shares |
95,000,000.00 |
95,000,000.00 |
|
|
|
|
|
Capital Paid |
95,000,000.00 |
95,000,000.00 |
|
Retained Earning - Unappropriated |
90,173,101.55 |
85,911,904.96 |
|
Total Shareholders' Equity |
185,173,101.55 |
180,911,904.96 |
|
Total Liabilities & Shareholders' Equity |
653,131,652.85 |
683,141,283.26 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales |
1,441,867,880.83 |
1,266,714,213.02 |
|
Other Income |
5,193,637.19 |
5,434,066.64 |
|
Total Revenues |
1,447,061,518.02 |
1,272,148,279.66 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,336,606,625.08 |
1,175,041,108.54 |
|
Selling and Administrative Expenses |
100,133,461.72 |
86,797,640.03 |
|
Total Expenses |
1,436,740,086.80 |
1,261,838,748.57 |
|
|
|
|
|
Profit / Loss] before Interest
Expenses & Income Tax |
10,321,431.22 |
10,309,531.09 |
|
Interest Expenses |
[3,182,806.51] |
[1,213,863.94] |
|
|
|
|
|
Profit / [Loss] before Income Tax |
7,138,624.71 |
9,095,667.15 |
|
Income Tax |
[2,877,428.12] |
[3,245,197.37] |
|
Net Profit / [Loss] |
4,261,196.59 |
5,850,469.78 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.48 |
1.40 |
|
QUICK RATIO |
TIMES |
0.93 |
0.82 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
46.98 |
35.95 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.21 |
1.85 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
56.99 |
77.92 |
|
INVENTORY TURNOVER |
TIMES |
6.40 |
4.68 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
70.51 |
83.67 |
|
RECEIVABLES TURNOVER |
TIMES |
5.18 |
4.36 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
75.74 |
114.51 |
|
CASH CONVERSION CYCLE |
DAYS |
51.75 |
47.08 |
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
92.70 |
92.76 |
|
SELLING & ADMINISTRATION |
% |
6.94 |
6.85 |
|
INTEREST |
% |
0.22 |
0.10 |
|
GROSS PROFIT MARGIN |
% |
7.66 |
7.67 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.72 |
0.81 |
|
NET PROFIT MARGIN |
% |
0.30 |
0.46 |
|
RETURN ON EQUITY |
% |
2.30 |
3.23 |
|
RETURN ON ASSET |
% |
0.65 |
0.86 |
|
EARNING PER SHARE |
BAHT |
44.85 |
61.58 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.72 |
0.74 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.53 |
2.78 |
|
TIME INTEREST EARNED |
TIMES |
3.24 |
8.49 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
13.83 |
|
|
OPERATING PROFIT |
% |
0.12 |
|
|
NET PROFIT |
% |
(27.16) |
|
|
FIXED ASSETS |
% |
(12.89) |
|
|
TOTAL ASSETS |
% |
(4.39) |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.66 |
Acceptable |
Industrial Average |
11.83 |
|
Net Profit Margin |
0.30 |
Deteriorated |
Industrial Average |
1.22 |
|
Return on Assets |
0.65 |
Deteriorated |
Industrial Average |
2.19 |
|
Return on Equity |
2.30 |
Deteriorated |
Industrial Average |
5.56 |
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 7.66%. When compared with
the industry average, the ratio of the company was lower. This indicated that
company was originated from the problems with control over its costs.
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 0.3%. 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 0.65%.
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 2.3%.
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 |
1.48 |
Satisfactory |
Industrial Average |
1.65 |
|
Quick Ratio |
0.93 |
|
|
|
|
Cash Conversion Cycle |
51.75 |
|
|
|
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 1.48 times in 2011, increase from 1.4 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 lower.
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 0.93 times in 2011,
increase from 0.82 times, by excluding inventory, the company may have problems
meeting current liabilities.
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 52 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE RATIO
|
Debt Ratio |
0.72 |
Acceptable |
Industrial Average |
0.60 |
|
Debt to Equity Ratio |
2.53 |
Risky |
Industrial Average |
1.51 |
|
Times Interest Earned |
3.24 |
Impressive |
Industrial Average |
1.62 |
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 3.25 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 0.72 greater than 0.5, most of the
company's assets are financed through debt.
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 |
46.98 |
Impressive |
Industrial Average |
5.33 |
|
Total Assets Turnover |
2.21 |
Impressive |
Industrial Average |
1.78 |
|
Inventory Conversion Period |
56.99 |
|
|
|
|
Inventory Turnover |
6.40 |
Impressive |
Industrial Average |
4.15 |
|
Receivables Conversion Period |
70.51 |
|
|
|
|
Receivables Turnover |
5.18 |
Impressive |
Industrial Average |
4.15 |
|
Payables Conversion Period |
75.74 |
|
|
|
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.54.85 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.