MIRA
INFORM REPORT
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Report Date : |
23.07.2012 |
IDENTIFICATION DETAILS
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Name : |
PHELPS DODGE INTERNATIONAL [ |
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Registered Office : |
16th Floor, |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
04.06.1968 |
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Com. Reg. No.: |
0105511002860 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer and Exporter of Electric Wire
and Cable |
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No. of Employees : |
420 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
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 |
COMPANY NAME
PHELPS DODGE INTERNATIONAL
[
[FORMER : PHELPS DODGE [
SUMMARY
BUSINESS ADDRESS : 16th FLOOR,
PATHUMWAN,
TELEPHONE :
[66] 2680-5800
FAX :
[66] 2680-5899
E-MAIL ADDRESS : ssuppari@phelpsdodge.com
REGISTRATION ADDRESS : 159 MOO
10,
BANGPLEE,
SAMUTPRAKARN 10540
ESTABLISHED : 1968
REGISTRATION NO. :
0105511002860 [Former :
347/2511]
CAPITAL REGISTERED :
BHT. 44,000,000
CAPITAL PAID-UP :
BHT. 44,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS :
PRIVATE LIMITED COMPANY
EXECUTIVE :
MR. STIG JONNY AKELSSON,
SWEDISH
VICE
PRESIDENT AND MANAGING
DIRECTOR
NO. OF STAFF :
420
LINES OF BUSINESS :
ELECTRIC WIRE AND
CABLE
MANUFACTURER
AND EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION :
GOOD WITH
MANAGEMENT STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
Phelps Dodge Thailand
was established on
June 4, 1968
as a private
limited company. It
is a joint
venture between an
existing Thai firm
and Phelps Dodge
Corporation, one of the world
leading in copper
mining and refining
companies in the
United States of
America and also a
world leader in
the manufacture of
copper and aluminum
cables and having
investments in eighteen affiliated
companies which engaged in the
manufacture of electrical
wires and cables throughout
the world.
Phelps Dodge Corporation
has more than
100 years’ experience in the
pioneering and development of new technology through its
wholly owned subsidiary, Phelps Dodge
International Corp., who provides
technical assistance to
Phelps Dodge Thailand
enabling it to
manufacture the well
known line of
quality products for
which Phelps Dodge
is famous.
On May 26, 2008, subject’s name was
changed to PHELPS DODGE
INTERNATIONAL [
Awards/Certification:
In 1995 subject
is the first
Thai wire and
cable company to
obtain the international
ISO 9001 certificate
which was awarded
by the British
Approvals Service for
Cables [BASEC] for
both factories at
Bangplee and Samrong.
In 1997, the
subject obtained an
additional ISO 9001 certificate
from Thai Industrial
Standard Institute [TIS].
In 1999 the
subject achieved ISO 14001
from British Approvals
Service for Cables
[BASEC].
In 2000 Transferred
the ISO 9001 and
ISO 14001 registrations from
BASEC to Underwriters
Laboratories Inc., [UL].
In 2000 Transferred
the TIS/ISO 9001 registration
to Management System
Certification [Thailand] [MASCI].
In 2001 The
Bangplee Plant obtained
its OHSAS 18001 certificate
from Underwriters Laboratories
Inc., [UL].
In 2002 The
Bangplee and Rayong
plants obtained ISO 9001 version 2000
from UL and
MASCI.
The subject’s registered
address was initially
located at 220
Moo 8, Soi
Wat Dansamrong, Sukhumvit Rd., Samrong
Nua, Samutprakarn 10540.
On January 7,
2005, subject’s registered
address was relocated
to 159 Moo
10, Theparak Rd.,
Bangpla, Bangplee, Samutprakarn
10540, while the
subject’s current operation
address is on 16th Floor,
Maneeya Building, 518/5
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok 10330.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
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|
|
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|
Mrs. Srivanik Hasadin |
|
Thai |
53 |
|
Mr. Surachak Ruengsook |
|
Thai |
49 |
|
Mr. Stig Jonny Axelsson |
[x] |
Swedish |
58 |
|
Mr. Pliew Mangkornkanok |
|
Thai |
62 |
|
Mr. Ernest Kenneth Cuyegkeng |
[x] |
Filipino |
47 |
|
Mrs. Somsri Pathumsutr |
|
Thai |
78 |
|
Mr. Nirouth Jeakvathanyoo |
[-] |
Thai |
56 |
|
Mr. Emil Chen On
Yu |
|
- |
47 |
|
Mr. Mathias F. Sandoval |
|
|
49 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can jointly sign
with the mentioned
director [-] on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Stig Jonny Axelsson
is the Vice
President and Managing
Director.
He is Swedish
nationality with the
age of 58
years old.
Mr. Nirouth Jeakvathanyoo
is the VP
Controller and Sales
[Domestic].
He is Thai
nationality.
Mr. Somsak Dendamrongwit
is the VP
Procurement & Special
Project.
He is Thai
nationality.
Mr. Suranan Jotikabukkana
is the VP Human
Resources & Administration.
He is Thai
nationality.
Mr. Churdpong Maneesin
is the VP
Power & Telecom
Cable Operation.
He is Thai
nationality.
Mr. Prasit Tanganurakpongsa is
the VP Building
Wire Operation.
He is Thai
nationality.
Mr. Sompol Supparinyaporn is
the Export &
Sales Marketing Manager.
He is Thai
nationality.
Mr. Manop Viwatsethchai
is the Factory
Manager.
He is Thai nationality.
Ms. Phannee Dhanubumrongsart is
the Director Information
Technology Service.
She is Thai
nationality.
Mr. Sujin Anusanakul is
the Business Development
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity
is a manufacturer of
electric cables and
wires with a
complete products line
of copper and
aluminum wire and
cable for transmission
distribution and industrial
application of electrical
energy as well
as a wide
range of telecommunication applications.
Its products are
as follows:
- Power cable
aluminum
- Power cable
copper [Crosslinked Polyethylene
or XLPE]
- Lead sheathed
cable
- Building wire
& cable
- Telephone cable
- UTP LAN
cable
- Product specification
PURCHASE
The raw materials
for production: PVC
resin, copper and
aluminum are purchased
from approximately 30
suppliers both domestic
and overseas, by 60%
is purchased from local
suppliers, and the
remaining 40% is
purchased from overseas such as United States of America,
Japan, Australia, France, Germany, Singapore
and United Kingdom.
At present, there is
a decrease in
the amount of
imported due to
the majority of the products can
be obtained by
local producers.
MAJOR SUPPLIERS
- Phelps Dodge Corp. :
- Henrich GmbH. :
- Mitsui Corp. :
- Thai Plastic &
Chemicals Public Co., Ltd. :
SALES
The subject currently
maintains over 200
customers both domestic
and overseas, by
80% is sold
directly to the
states enterprises, contractors
and through dealers all over the
country, the remaining
20% is exported
to Asian countries;
such as Myanmar, Bangladesh,
Singapore, Philippines, Hong Kong,
Pakistan, Laos, Vietnam,
Indonesia, Malaysia, Taiwan,
Republic of China
and Middle East
Countries.
MAJOR CUSTOMERS
- CAT Telecom Public
Co., Ltd. :
- TOT Corporation Public
Co., Ltd. :
- The Electricity Generating
Authority of
- The Metropolitan Electricity
Authority [MEA] :
- The Provincial Electricity
Authority [PEA] :
- Sang
- Phelps Dodge Trading
Co., Ltd. :
SUBSIDIARIES &
AFFILIATED COMPANIES
It is found the
subject has two
affiliated companies as follows:
Thai Copper Rod
Co., Ltd.
Business Type: Manufacturer of
copper rod
Address : 22/2 Moo 5,
Phelps Dodge Trading
Co., Ltd.
Business Type : Trading company
Address :
LITIGATION
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 30-60-90
days.
Imports are by
L/C at sight
or D/P, D/A
on the credit
term of 30
days & T/T.
Exports are against
L/C at sight
or T/T.
BUSINESS TRANSACTION
In term of
sales, the products
are sold mainly
to local customers,
with the maximum
credit given at
60 days, and
the remaining to
overseas customers by L/C or
T/T. The subject
is found to
have delay payment from
around 10% of the
customers. For the
purchasing, the subject
has no default
payment . Occasionally, the
subject is found
to have 7 days of
late payment for
its purchasing.
BANKING
Bangkok Bank Public
Co., Ltd.
[Samrong Branch :
Siam Commercial Bank
Public Co., Ltd.
[Head Office :
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 420 office
staff and factory
workers.
LOCATION DETAILS
The premise is
rented for administrative office
on the 16th floor
of a multi-storey
building at the
heading address. The
premise is located
in a prime commercial
area.
The subject has
2 factories as
follows:
Factory 1 : 159
Moo 10 T.
Bangpla, A.
the area
of 131,200 square
meters.
Tel : [66]
2769-2400 Fax : [66]
2769-2440
Factory 2 :
9/9 Moo 4,
T. Nikompatana, King
Amphur Nikompatana, Rayong
Province 21180
on 24,000 Sq.M.
of area.
Tel : [66] 38
877-155 Fax : [66] 38
887-153
COMMENT
The company is
a pioneer in
the local wire
and cable industry
introducing state-of-the-art processes,
products and technology
to Thailand. It
is capable of
manufacturing world class
quality wire and
cable at competitive
price with strict
global standards.
In 2009 the
impact of economic sluggish
reaches every corner of the world,
and is pushing the limits of wire
and cable demand. In domestic
market, a serene construction sector, drawing a plunge of
various huge projects, shows
the slowdown of
industry as a whole. This
has resulted to significantly drop
of subject’s sales revenue .
FINANCIAL INFORMATION
The capital was
originally registered at
Bht. 20,000,000 with
fully paid.
The capital was
increased later as
follows :
Bht. 24,000,000 in 1969
Bht. 33,600,000
in 1971
Bht. 44,000,000
in 1972
The latest registered
capital was increased
to Bht. 44,000,000
divided into 44,000
shares of Bht.
1,000 each with
fully paid.
MAIN SHAREHOLDERS : [
as at
March 17, 2010]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Phelps Dodge International Corporation
Nationality: American Address : |
33,206 |
75.47 |
|
TISCO Finance Public
Co., Ltd. Nationality: Thai Address : |
4,100 |
9.32 |
|
Ms. Poonlarp Ruangsuk Nationality: Thai Address : 8/1 Soi
Sriviang, |
1,067 |
2.42 |
|
Mr. Surachak Ruangsuk Nationality: Thai Address : 8/1 Soi
Sriviang, |
766 |
1.74 |
|
Mrs. Siriwan Ruangsuk Nationality: Thai Address : 8/1 Soi
Sriviang, |
600 |
1.36 |
|
Mr. Thammanit Angsusingh Nationality: Thai Address : 23 Sukhumvit
38 Rd., Klongtoey,
Prakanong, |
420 |
0.95 |
|
Mrs. Yingluck Santivejjakul Nationality: Thai Address : 8/1 Soi
Sriviang, |
400 |
0.91 |
|
Others |
3,441 |
7.83 |
Total Shareholders :
41
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mrs. Vipawee Bunyaprasit No. 3096
BALANCE SHEET [BAHT]
The latest
financial figures published
for December 31,
2009 & 2008 were:
ASSETS
|
Current Assets |
2009 |
2008 [Adjusted] |
|
|
|
|
|
Cash in Hand
& at Bank |
496,037,337 |
1,455,504 |
|
Trade Accounts &
Notes Receivable - Related
Company |
217,736,313 |
76,255,374 |
|
- Other
Company |
2,283,372,756 |
3,402,673,916 |
|
Related Company Receivable |
98,832 |
170,476 |
|
Forward Contract Receivable |
- |
6,743,514 |
|
Forward Raw Material
Contract Receivable |
13,962,608 |
- |
|
Inventories |
953,845,590 |
1,080,252,461 |
|
Other Current Assets
Other Receivable |
64,501,535 |
80,528,113 |
|
Prepaid Expenses |
24,376,848 |
29,997,207 |
|
Other Assets |
1,155,049 |
964,841 |
|
|
|
|
|
Total Current Assets
|
4,055,086,868 |
4,679,041,406 |
|
Investment in Subsidiary
|
- |
5,603,000 |
|
Investment in Associated
Company |
20,000,000 |
20,000,000 |
|
Fixed Assets |
1,084,321,225 |
1,122,910,996 |
|
Deferred Income Tax |
51,963,124 |
234,536,440 |
|
Other Assets |
760,654 |
1,097,214 |
|
Total Assets |
5,212,131,871 |
6,063,189,056 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2009 |
2008 [Adjusted] |
|
|
|
|
|
Short-term Loan from Bank |
- |
220,000,000 |
|
Trade Accounts Payable Related Company |
4,163,429 |
20,618,657 |
|
Other Company |
1,705,786,210 |
2,217,070,831 |
|
Related Company Payable |
33,766,119 |
138,232,667 |
|
Short-term Loan from
Related Company |
- |
44,000,000 |
|
Forward Contract Payable |
1,346,071 |
- |
|
Forward Raw Material
Contract Payable |
- |
742,032,990 |
|
Other Current Liabilities Accrued Withholding
Income Tax |
12,505,474 |
42,001,571 |
|
Accrued Income Tax |
133,263,403 |
40,753,550 |
|
Accrued Interest |
9,724,094 |
18,226,194 |
|
Accrued Expenses |
54,844,299 |
64,852,205 |
|
Advance Income |
21,543,707 |
44,530,265 |
|
|
|
|
|
Total Current Liabilities |
1,976,942,806 |
3,592,318,930 |
|
Reserve for Employees’ Benefit |
115,774,475 |
130,010,676 |
|
Total Liabilities |
2,092,717,281 |
3,722,329,606 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 44,000 shares |
44,000,000 |
44,000,000 |
|
|
|
|
|
Capital Paid |
44,000,000 |
44,000,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
4,400,000 |
4,400,000 |
|
Unappropriated |
3,061,240,761 |
2,747,253,611 |
|
Reserve for Risk Protection |
9,773,829 |
[454,794,161] |
|
Total Shareholders' Equity |
3,119,414,590 |
2,340,859,450 |
|
Total Liabilities & Shareholders' Equity |
5,212,131,871 |
6,063,189,056 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2009 |
2008 |
|
|
|
|
|
Sales |
7,851,036,794 |
11,862,417,030 |
|
Other Income |
65,496,988 |
125,514,799 |
|
Dividend Income |
2,000,000 |
2,000,000 |
|
Gain on Exchange
Rate |
11,490,309 |
47,850,986 |
|
Total Revenues |
7,930,024,091 |
12,037,782,815 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
6,459,917,291 |
10,805,059,709 |
|
Selling Expenses |
371,587,604 |
470,011,611 |
|
Administrative Expenses |
294,859,495 |
386,941,526 |
|
Total Expenses |
7,126,364,390 |
11,662,012,846 |
|
|
|
|
|
Profit / [Loss] before Interest
Expenses & Income Tax |
803,659,701 |
375,769,969 |
|
Interest Expenses |
[55,303,549] |
[131,899,634] |
|
Income Tax |
[214,369,002] |
[75,569,351] |
|
|
|
|
|
Net Profit / [Loss] |
533,987,150 |
168,300,984 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2009 |
2008 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
2.05 |
1.30 |
|
QUICK RATIO |
TIMES |
1.52 |
0.97 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.24 |
10.57 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.51 |
1.96 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
53.89 |
36.49 |
|
INVENTORY TURNOVER |
TIMES |
6.77 |
10.00 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
106.13 |
104.68 |
|
RECEIVABLES TURNOVER |
TIMES |
3.44 |
3.49 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
96.38 |
74.89 |
|
CASH CONVERSION CYCLE |
DAYS |
63.64 |
66.28 |
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
82.26 |
91.07 |
|
SELLING & ADMINISTRATION |
% |
8.49 |
7.22 |
|
INTEREST |
% |
0.70 |
1.11 |
|
GROSS PROFIT MARGIN |
% |
18.72 |
10.39 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.23 |
3.17 |
|
NET PROFIT MARGIN |
% |
6.80 |
1.42 |
|
RETURN ON EQUITY |
% |
17.12 |
7.19 |
|
RETURN ON ASSET |
% |
10.25 |
2.78 |
|
EARNING PER SHARE |
BAHT |
12,136.07 |
3,825.02 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.40 |
0.61 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.63 |
1.53 |
|
TIME INTEREST EARNED |
TIMES |
14.53 |
2.85 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
(33.81) |
|
|
OPERATING PROFIT |
% |
113.87 |
|
|
NET PROFIT |
% |
217.28 |
|
|
FIXED ASSETS |
% |
(3.44) |
|
|
TOTAL ASSETS |
% |
(14.04) |
|
%2023-Jul-2012_files/image002.gif)
PROFITABILITY RATIO
|
Gross Profit Margin |
18.72 |
Impressive |
Industrial Average |
10.57 |
|
Net Profit Margin |
6.80 |
Impressive |
Industrial Average |
2.79 |
|
Return on Assets |
10.25 |
Impressive |
Industrial Average |
2.50 |
|
Return on Equity |
17.12 |
Impressive |
Industrial Average |
4.27 |
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 18.72%. When compared with the industry average, the
ratio of the company was higher, 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 6.8% 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 is 10.25%, 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 is 17.12%, 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 Downtrend
Return on Equity Downtrend
%2023-Jul-2012_files/image004.gif)
LIQUIDITY RATIO
|
Current Ratio |
2.05 |
Impressive |
Industrial Average |
1.90 |
|
Quick Ratio |
1.52 |
|
|
|
|
Cash Conversion Cycle |
63.64 |
|
|
|
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 2.05 times in 2009, increase from 1.3 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 1.52 times in 2009,
increase from 0.97 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 get from payment terms from its
creditors. It meant the company could survive when no cash inflow was received
from sale for 64 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
%2023-Jul-2012_files/image006.gif)
%2023-Jul-2012_files/image008.gif)
%2023-Jul-2012_files/image010.gif)
LEVERAGE RATIO
|
Debt Ratio |
0.40 |
Impressive |
Industrial Average |
0.38 |
|
Debt to Equity Ratio |
0.63 |
Impressive |
Industrial Average |
0.71 |
|
Times Interest Earned |
14.53 |
Impressive |
Industrial Average |
(0.98) |
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 14.54 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 0.4 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 Downtrend
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ACTIVITY RATIO
|
Fixed Assets Turnover |
7.24 |
Impressive |
Industrial Average |
3.56 |
|
Total Assets Turnover |
1.51 |
Impressive |
Industrial Average |
0.89 |
|
Inventory Conversion Period |
53.89 |
|
|
|
|
Inventory Turnover |
6.77 |
Impressive |
Industrial Average |
3.30 |
|
Receivables Conversion Period |
106.13 |
|
|
|
|
Receivables Turnover |
3.44 |
Impressive |
Industrial Average |
2.25 |
|
Payables Conversion Period |
96.38 |
|
|
|
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.55.15 |
|
|
1 |
Rs.86.58 |
|
Euro |
1 |
Rs.67.60 |
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.