MIRA
INFORM REPORT
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Report Date : |
28.07.2012 |
IDENTIFICATION DETAILS
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Name : |
SINO-PACIFIC
TRADING [ |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.10.1970 |
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Com. Reg. No.: |
0105513005572 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer & Distributor of Foods and Seasoning Products |
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No. of Employees : |
400 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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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 – 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 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
SINO-PACIFIC TRADING [THAILAND]
COMPANY LIMITED
SUMMARY
ADDRESS : 122/2-3 NONSEE
ROAD, CHONGNONSEE, YANNAWA,
BANGKOK 10120,
THAILAND
TELEPHONE : [66]
2681-5081-96, 2681-3045
FAX : [66]
2681-5097-8
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1970
REGISTRATION NO. : 0105513005572 [Former : 674/2513]
TAX ID NO. : 3101011340
CAPITAL REGISTERED : BHT.
160,000,000
CAPITAL PAID-UP : BHT.
160,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING
DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
EKACHAI SAVETSOMPOP, THAI
MANAGING DIRECTOR
NO. OF STAFF : 400
LINES OF BUSINESS : FOODS
AND SEASONING PRODUCTS
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 October 28,
1970 as a
private limited company
under the name
style SINO-PACIFIC TRADING
[THAILAND] COMPANY LIMITED by
Thai group, Savetsompop
family, in order
to import and
distribute wide range
of foods and
food seasoning products
to local market.
It currently employs
approximate 400 staff.
The
subject’s registered address
is 122/2-3 Nonsee
Rd., Chongnonsee, Yannawa,
Bangkok 10120, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Ekachai Savetsompop |
|
Thai |
57 |
|
Mr. Sawate Savetsompop |
|
Thai |
30 |
|
Mr. Sompop Savetsompop |
|
Thai |
27 |
AUTHORIZED PERSON
Two
of the above
directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr.
Ekachai Savetsompop is
the Managing Director.
He
is Thai nationality
with the age
of 57 years
old.
Mr. Sawate
Savetsompop is the
Deputy Managing Director.
He
is Thai nationality
with the age
of 30 years
old.
Mr. Sompop
Savetsompop is the
Assistant Managing Director.
He
is Thai nationality
with the age
of 27 years
old.
Mr. Pablo
De Abadal is
the Commercial Manager.
He
is Spanish nationality.
Mr.
Pairat Pongbanglee is
the Sales Manager.
He
is Thai nationality.
BUSINESS OPERATION
The subject is engaged in importing and distributing
wide range of
local and international
brands of food,
food seasonings, dairies,
bakeries and beverage
products including snacks,
breads, biscuit, seasoning
sauces, pasta as
well as confectionery
such as herb
candy, chocolate and
etc. It consists
of almost 70
brands from all
around the world.
Range of products
and brands are
as follows:
·
Beverage
products : CAMBELL’S,
EVIEN, POKKA, SPRING
VALLEY
JUICE,
TREE TOP, VOLVIC
and etc.
·
Chocolate
products : ALPROSE,
ARCOR, DELFI, GUYLIAN,
HAITAI,
HAWAILAN
HOST, HERSHEY’S, LINDT, MORINAGA,
RITTER
SPORT, STEENLAND, VAN
HOUTEN
·
Confectionery
products : ARCOR,
CHUPA CHUPS, FISHERMAN’S
FRIEND,
FOX’S,
GEEEF, MENTOS, HERSHEY’S,
PEZ, POLO,
RICOLA, ROCK
LOLIPOP, SMINT, STORCK,
SUGUS,
TUTTI
FRUTTI, WRIGLEY’S, YUPI
and etc.
·
Grocery products : AGNESI, ARCOR, BERTOLLI,
CONFETTI, FAMILIA
GALLO,
HERSHEY’S KIKKOMAN, LANGNESE,
LUNE DE
MIEL, MC CORMICK
SABROSO, TULIP,
SMUCKER’S,
VAN HOUTEN, TABASCO, NUTELLA”,
CAMPBELL’S,
FERRERO, CRESPO, S&B, FAMILIA,
LEA & PERRINS, MUTTI,
NATURE’S PATH and etc.
·
Snack & Biscuits :
ARNOTT’S, BAHLSEN, CALBEE,
CAMEL NUTS
GLICO,
KAMBLY, HAITAI, KAVLI
KETTLE, ROKA
LOACKER, LORENZ, NUT
CANDY, WALKERS
TONG
GARDEN, PEPERIDGE FARM
and etc.
·
etc.
PURCHASE
80%
of the products
is imported from
United States of
America, Switzerland, United
Kingdom, Germany, Singapore,
Australia, Canada, Austria,
Indonesia, Japan, Vietnam,
Republic of China,
Korea, Philippines, New
Zealand, Italy, Malaysia,
Africa, Hong Kong
and Taiwan, and
the remaining 20%
is purchased from
local suppliers.
MAJOR
SUPPLIERS
- Ricola
AG : Switzerland
- Hug
AG : Switzerland
- Mcllhenny
Co., Ltd. : United
States of America
- Cumberland
Packaging Corp. :
United States of
America
- Minh
Thanh Export Ltd. : Vietnam
- Pokka
Corporation [Singapore] Pte.
Ltd. : Singapore
- Danone
Import Water Asia
Pte. Ltd. : Thailand
-etc.
SALES
[LOCAL]
100%
of the products
is sold locally by wholesale
to dealers and
end-users such as
hotel, restaurant, supermarket and etc. The subject currently has over
100 customers nationwide.
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
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 at sight
and T/T on
negotiated term.
BANKING
Bangkok
Bank Public Co., Ltd.
[Head Office : 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
Bank
of Ayudhya Public
Co., Ltd.
[Head Office : 1222 Rama 3
Rd., Bangpongpang, Yannawa,
Bangkok 10120]
Thanachart
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
400 staff [office,
sales staff and
warehouse workers].
LOCATION DETAILS
The
premise is owned
for administrative office
in a 4
storey building of
2 row shop
house at the
heading address. Premise
is located in
commercial/residential area.
There
are 5 branches
in provincial as
follows:
·
Phuket
Branch, 97/326 Suanlung
Chaofai Project 3,
Wirathongyok 6 Rd.,
Wichit, Muang, Phuket
83000. Tel. : [66] 76 356-034-6.
·
Chiangmai
Branch, 230/3 Kaewnawarat
Rd., Watkate, Muang,
Chiengmai 50000.
Tel. : [66] 53 241-908-9
·
Pattaya
Branch, 16/141 Moo
8, Nong-bualai, Banglamung,
Pattaya City, Chonburi
20150. Tel. : [66] 38 223-935-7.
·
Samui Branch, 7/18
Robkhon Rd., Mae-nam,
Samui, Suratthani 84330.
Tel. : [66]
77 430-285
·
Hadyai
Branch, 117/16 Kanchanawanit
Rd., T. Banpru, A. Hadyai,
Songkhla 90110.
Tel. : [66]
74 217-440.
COMMENT
Domestic consumption of imported products especially gourmet foods from
overseas remains strong.
The subject is one of the country’s
major importers and distributors
of food products. Numbers of the products are well accepted by
local consumers. Its experience and long
term recognition in Thailand’s market
have enabled subject to be one
of the leading distributors of premium
foods products in
domestic market.
FINANCIAL INFORMATION
The
capital was initially
registered at Bht. 500,000
divided into 1,000
shares of Bht.
500 each.
The
capital was increased
later as followings:
Bht. 35
million on July
12, 1993
Bht. 60
million on December
21, 1994
Bht. 80
million on October
4, 1995
Bht. 120
million on July
23, 1996
Bht. 150
million on October
12, 1997
Bht. 160
million on October
26, 2010
The
latest registered capital
was increased to
Bht. 160 million, divided
into 320,000 shares
of Bht. 500
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE :
[as at April
30, 2012]
|
NAME |
HOLDING |
% |
|
Mr. Ekachai Savetsompop Nationality: Thai Address : 127/1 Rama
4 Rd., Chongnonsee, Yannawa, Bangkok 10120 |
202,318 |
63.22 |
|
Mr. Sawate Savetsompop Nationality: Thai Address : 127/1 Rama
4 Rd., Chongnonsee, Yannawa, Bangkok 10120 |
15,013 |
4.69 |
|
Mr. Sompop Savetsompop Nationality: Thai Address : 127/1 Rama
4 Rd., Chongnonsee, Yannawa, Bangkok 10120 |
15,013 |
4.69 |
|
Mrs. Ekajit Savetsompop Nationality: Thai Address : 37 Rama
4 Rd., Chongnonsee, Yannawa, Bangkok 10120 |
15,000 |
4.69 |
|
Ms. Ekarat Savetsompop Nationality: Thai Address : 99/26 Moo 20,
Minburi, Bangkok |
15,000 |
4.69 |
|
Master Teeraparp Savetsompop Nationality: Thai Address : 37 Rama
4 Rd., Chongnonsee, Yannawa, Bangkok 10120 |
15,000 |
4.69 |
|
Mr. Poltakorn Savetsompop Nationality: Thai Address : 99/26 Moo 20,
Minburi, Bangkok |
15,000 |
4.69 |
|
Mrs. Varaporn Savetsompop Nationality: Thai Address : 127/1 Rama
4 Rd., Chongnonsee, Yannawa, Bangkok 10120 |
11,794 |
3.68 |
|
Others |
15,862 |
4.96 |
Total Shareholders : 53
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
53 |
320,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
53 |
320,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Boonsin Thavorn
No. 1059
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash in hand
& at Financial Institution |
101,577,365.81 |
48,606,846.39 |
|
Short-term Investment |
153,501,846.31 |
151,751,342.96 |
|
Trade Accounts & Other
Receivable |
3,172,682,059.96 |
2,117,748,100.84 |
|
Short-term Loan to Person or Related Company |
- |
21,000,000.00 |
|
Inventories |
844,130,349.02 |
931,011,984.13 |
|
Other Current Assets
|
8,279,906.08 |
8,201,301.94 |
|
|
|
|
|
Total Current Assets
|
4,280,171,527.18 |
3,278,319,576.26 |
|
Long-term Investment |
36,718,190.00 |
36,718,190.00 |
|
Other Long-term Investment |
6,579,953.27 |
6,579,953.27 |
|
Fixed Assets |
521,632,599.09 |
499,969,812.49 |
|
Other Assets |
13,875,566.08 |
12,197,013.41 |
|
Total Assets |
4,859,977,835.62 |
3,833,784,545.43 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial
Institution |
437,862,849.03 |
464,495,143.04 |
|
Trade Accounts &
Other Payable |
2,484,374,763.53 |
1,833,407,787.53 |
|
Current Portion of Long-term
Loan |
- |
5,709,999.98 |
|
Current Portion of
Hire-purchase Payable |
1,633,176.00 |
- |
|
Accrued Income Tax |
125,381,505.24 |
64,165,384.43 |
|
Obligation for Employee
Benefits |
861,616.24 |
- |
|
Other Current Liabilities |
37,427,501.93 |
26,049,059.78 |
|
|
|
|
|
Total Current Liabilities |
3,087,541,411.97 |
2,393,827,374.76 |
|
|
|
|
|
Hire-purchase Payable |
2,164,948.98 |
- |
|
Obligation for Employee
Benefits |
39,361,826.93 |
35,756,328.35 |
|
Total Liabilities |
3,129,068,187.88 |
2,429,583,703.11 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 500
par value authorized, issued
and fully paid share
capital 320,000 shares
|
160,000,000.00 |
160,000,000.00 |
|
|
|
|
|
Capital Paid |
160,000,000.00 |
160,000,000.00 |
|
Retained Earning Appropriated for
Statutory Reserve |
16,000,000.00 |
15,000,000.00 |
|
Unappropriated |
1,553,909,647.74 |
1,229,200,842.32 |
|
Total Shareholders' Equity |
1,729,909,647.74 |
1,404,200,842.32 |
|
Total Liabilities &
Shareholders' Equity |
4,858,977,835.62 |
3,833,784,545.43 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales |
9,225,486,064.68 |
6,966,161,394.96 |
|
Other Income |
587,626,494.65 |
536,644,266.85 |
|
Total Revenues |
9,813,112,559.33 |
7,502,805,661.81 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
6,872,079,667.72 |
5,228,168,527.06 |
|
Selling Expenses |
1,972,439,355.04 |
1,559,054,058.58 |
|
Administrative Expenses |
278,777,714.01 |
210,687,716.27 |
|
Other Expenses |
23,356,363.18 |
71,094,938.14 |
|
Total Expenses |
9,146,653,099.95 |
7,069,005,240.05 |
|
|
|
|
|
Profit before Financial
Cost & Income
Tax |
666,459,459.38 |
433,800,421.76 |
|
Financial Cost |
[42,762,046.77] |
[29,652,159.42] |
|
|
|
|
|
Profit before Income
Tax |
623,697,412.61 |
404,148,262.34 |
|
Income Tax |
[192,388,607.19] |
[25,450,750.26] |
|
Net Profit / [Loss] |
431,308,805.42 |
278,697,512.08 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.39 |
1.37 |
|
QUICK RATIO |
TIMES |
1.11 |
0.98 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
17.69 |
13.93 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.90 |
1.82 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
44.83 |
65.00 |
|
INVENTORY TURNOVER |
TIMES |
8.14 |
5.62 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
125.52 |
110.96 |
|
RECEIVABLES TURNOVER |
TIMES |
2.91 |
3.29 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
131.95 |
128.00 |
|
CASH CONVERSION CYCLE |
DAYS |
38.41 |
47.96 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
74.49 |
75.05 |
|
SELLING & ADMINISTRATION |
% |
24.40 |
25.40 |
|
INTEREST |
% |
0.46 |
0.43 |
|
GROSS PROFIT MARGIN |
% |
31.88 |
32.65 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.22 |
6.23 |
|
NET PROFIT MARGIN |
% |
4.68 |
4.00 |
|
RETURN ON EQUITY |
% |
24.93 |
19.85 |
|
RETURN ON ASSET |
% |
8.87 |
7.27 |
|
EARNING PER SHARE |
BAHT |
1,347.84 |
870.93 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.64 |
0.63 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.81 |
1.73 |
|
TIME INTEREST EARNED |
TIMES |
15.59 |
14.63 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
32.43 |
|
|
OPERATING PROFIT |
% |
53.63 |
|
|
NET PROFIT |
% |
54.76 |
|
|
FIXED ASSETS |
% |
4.33 |
|
|
TOTAL ASSETS |
% |
26.77 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
31.88 |
Impressive |
Industrial
Average |
12.33 |
|
Net Profit Margin |
4.68 |
Impressive |
Industrial
Average |
1.67 |
|
Return on Assets |
8.87 |
Impressive |
Industrial Average |
6.96 |
|
Return on Equity |
24.93 |
Acceptable |
Industrial
Average |
41.91 |
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 31.88%. 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 4.68%,
higher figure when 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 ratio is
8.87%, 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. When compared with the
industry average, it was lower, the company's figure is 24.93%.
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 |
1.39 |
Impressive |
Industrial
Average |
0.97 |
|
Quick Ratio |
1.11 |
|
|
|
|
Cash Conversion Cycle |
38.41 |
|
|
|
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 1.39 times in 2011, increased from 1.37 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 1.11 times in 2011,
increased from 0.98 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 from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 39 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.64 |
Impressive |
Industrial
Average |
0.88 |
|
Debt to Equity Ratio |
1.81 |
Impressive |
Industrial
Average |
5.69 |
|
Times Interest Earned |
15.59 |
Impressive |
Industrial
Average |
2.76 |
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 15.59 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 0.64 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 |
17.69 |
Satisfactory |
Industrial
Average |
19.27 |
|
Total Assets Turnover |
1.90 |
Deteriorated |
Industrial
Average |
4.75 |
|
Inventory Conversion Period |
44.83 |
|
|
|
|
Inventory Turnover |
8.14 |
Deteriorated |
Industrial
Average |
19.01 |
|
Receivables Conversion Period |
125.52 |
|
|
|
|
Receivables Turnover |
2.91 |
Acceptable |
Industrial
Average |
4.38 |
|
Payables Conversion Period |
131.95 |
|
|
|
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
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.