MIRA
INFORM REPORT
|
Report Date : |
27.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
OHT
CO., LTD. |
|
|
|
|
Registered Office : |
2ND Floor,
3498 Ladprao Road,
Klongchan, Bangkapi,
Bangkok 10240, |
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|
|
|
Country : |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
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Date of Incorporation : |
09.03.1999 |
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|
|
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Com. Reg. No.: |
0105542017311 |
|
|
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|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Holding
and investment |
|
|
|
|
No. of Employees : |
03 |
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 – 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
OHT CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 2nd FLOOR,
3498 LADPRAO ROAD,
KLONGCHAN,
BANGKAPI, BANGKOK
10240, THAILAND
TELEPHONE : [66] 2723-1000
FAX :
[66] 2375-2927,
2734-2141
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0105542017311
TAX
ID NO. : 3021019044
CAPITAL REGISTERED : BHT. 12,500,000
CAPITAL PAID-UP : BHT.
12,500,000
SHAREHOLDER’S PROPORTION : THAI : 51.00%
DUTCH :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PRASERT JARUPANICH,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 3
LINES
OF BUSINESS : HOLDING AND
INVESTMENT
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 March 9, 1999 as
a private limited
company under the registered
name OHT CO.,
LTD., by a
joint venture between
Thai and Dutch
groups, with the objective
to engage in
holding and investment
business in Thailand.
It currently employs
3 staff.
The
subject is also
an affiliated company
of Orkam Holding
Asia N.V., the
Dutch company, which
is a subsidiary
of SHV Interholding
AG, in Switzerland.
The
subject’s registered address
is 2nd Floor,
3498 Ladprao Rd.,
Klongchan, Bangkapi, Bangkok
10240, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Prasert Jarupanich |
|
Thai |
64 |
|
Ms. Nilobol Tangprasit |
|
Thai |
53 |
|
Mrs. Pornthip Lorsap |
|
Thai |
56 |
|
Mr. Wouter Van Der
Woerd |
|
Dutch |
54 |
|
Mr. Stephan Ronald Nanninga |
|
Dutch |
55 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Prasert Jarupanich is
the Managing Director.
He is Thai
nationality with the
age of 64
years old.
BUSINESS OPERATIONS
The subject
is a holding
and investment company
in Siam Makro
Holding [Thailand] Limited,
which is the
major shareholder of
Siam Makro Public
Company Limited, to
operate as a
cash and carry
trade center.
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to have any
subsidiary or affiliated
company here in
Thailand.
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
Local bills are
paid by cash
or on the
credits term of
30-60 days.
BANKING
Bangkok
Bank Public Co., Ltd.
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject employs 3
staff.
LOCATION DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
COMMENT
The subject operates as a
holding an investment
company in Macro Super Store, a cash and carry wholesale business, selling
both food and non-food products to registered members. One of the projects was
the enhancement of the Eco Plus concept that was geared to better serve HoReCa
(Hotel, Restaurant and Catering) customers. The pilot store was a success and
the best practice have been applied in other new stores in similar environment.
This was reflected in the remodeling of a store in other
parts of the
country. At the present
there are 48 stores
in the Greater Bangkok and in
the provinces.
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 follows:
Bht. 10,000,000
on September 27,
1999
Bht. 12,500,000
on February 7,
2001
The
latest registered capital
was increased to
Bht. 12,500,000 divided into
125,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 27, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Prasert Jarupanich Nationality: Thai Address : 38
Panya Village, Suanluang,
Bangkok |
63,750 |
51.00 |
|
Orkam Holding Asia
N.V. Nationality: Dutch Address : Utrecht,
Netherlands |
61,249 |
49.00 |
|
Ms. Nilobol Tangprasit Nationality: Thai Address : 6/21
Moo 10, Ladprao
Rd., Ladprao, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 27,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
2 |
63,751 |
51.00 |
|
Foreign - Dutch |
1 |
61,249 |
49.00 |
|
Total |
3 |
125,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Chaisiri Ruangrithichai No.
4526
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
13,395,672 |
9,931,953 |
|
Other Current Assets
|
297 |
170 |
|
|
|
|
|
Total Current Assets
|
13,395,969 |
9,932,123 |
|
|
|
|
|
Long-term Investment
|
3,513,461,300 |
3,513,461,300 |
|
Total Assets |
3,526,857,269 |
3,523,393,423 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Accrued Withholding Income
Tax |
11,744,980 |
8,370,679 |
|
Accrued Expenses |
87,500 |
89,135 |
|
|
|
|
|
Total Current Liabilities |
11,832,480 |
8,459,814 |
|
Total Liabilities |
11,832,480 |
8,459,814 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 125,000 shares |
12,500,000 |
12,500,000 |
|
|
|
|
|
Capital Paid |
12,500,000 |
12,500,000 |
|
Premium on Share Capital |
3,483,867,617 |
3,483,867,617 |
|
Retained Earning Appropriated for
Statutory Reserve |
1,250,000 |
1,250,000 |
|
Unappropriated |
17,407,172 |
17,315,992 |
|
Total Shareholders' Equity |
3,515,024,789 |
3,514,933,609 |
|
Total Liabilities & Shareholders' Equity |
3,526,857,269 |
3,523,393,423 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Dividend Income |
588,503,290 |
403,389,784 |
|
Other Income |
12,731 |
4,270 |
|
Total Revenues |
588,516,021 |
403,394,054 |
|
Expenses |
|
|
|
|
|
|
|
Administrative Expenses |
935,066 |
804,938 |
|
Total Expenses |
935,066 |
804,938 |
|
Net Profit / [Loss] |
587,580,955 |
402,589,116 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.13 |
1.17 |
|
QUICK RATIO |
TIMES |
1.13 |
1.17 |
|
|
|
|
|
|
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 |
% |
16.72 |
11.45 |
|
RETURN ON ASSET |
% |
16.66 |
11.43 |
|
EARNING PER SHARE |
BAHT |
4,700.65 |
3,220.71 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.00 |
0.00 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.00 |
0.00 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
- |
|
|
OPERATING PROFIT |
% |
45.95 |
|
|
NET PROFIT |
% |
45.95 |
|
|
FIXED ASSETS |
% |
- |
|
|
TOTAL ASSETS |
% |
0.10 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial
Average |
45.39 |
|
Net Profit Margin |
- |
|
Industrial
Average |
32.03 |
|
Return on Assets |
16.66 |
Impressive |
Industrial
Average |
3.96 |
|
Return on Equity |
16.72 |
Impressive |
Industrial
Average |
7.50 |
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. The company’s figure is 16.66%, 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. The company’s figure is 16.72%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY RATIO
|
Current Ratio |
1.13 |
Satisfactory |
Industrial
Average |
1.27 |
|
Quick Ratio |
1.13 |
|
|
|
|
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 1.13 times in 2011, decreased from 1.17 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 1.13 times in 2011,
decreased from 1.17 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 |
0.00 |
Impressive |
Industrial
Average |
0.36 |
|
Debt to Equity Ratio |
0.00 |
Impressive |
Industrial
Average |
0.62 |
|
Times Interest Earned |
- |
|
Industrial
Average |
2.61 |
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 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 |
0.17 |
|
Total Assets Turnover |
- |
|
Industrial Average |
0.12 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
8.19 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
1.74 |
|
Payables Conversion Period |
- |
|
|
|
Trend of the average
competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.95 |
|
UK Pound |
1 |
Rs.86.56 |
|
Euro |
1 |
Rs.67.95 |
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.