MIRA
INFORM REPORT
|
Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
HAIER
ELECTRIC [ |
|
|
|
|
Formerly Known As : |
SANYO UNIVERSAL ELECTRIC PUBLIC COMPANY LIMITED |
|
|
|
|
Registered Office : |
3rd-4th Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.12.1959 |
|
|
|
|
Com. Reg. No.: |
0107536001320 |
|
|
|
|
Legal Form : |
Public
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, distributor and
exporter of household
electrical appliances |
|
|
|
|
No. of Employees : |
2,200 |
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
HAIER ELECTRIC [THAILAND] PUBLIC
COMPANY LIMITED
[FORMER :
SANYO UNIVERSAL ELECTRIC
PUBLIC COMPANY LIMITED]
SUMMARY
BUSINESS
ADDRESS : 3rd-4th FLOOR,
SANYO BUILDING,
795
RAMA 9 ROAD,
BANGKAPI,
HUAYKWANG,
BANGKOK 10310
TELEPHONE : [66]
2719-6971-5
FAX :
[66] 2719-6976
E-MAIL
ADDRESS : info@haier.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1959
REGISTRATION
NO. : 0107536001320 [Former
: BOR.MOR.JOR.206]
CAPITAL
REGISTERED : BHT.
12,196,170,490
CAPITAL
PAID-UP : BHT.
12,196,170,490
SHAREHOLDER’S PROPORTION : FOREIGN :
97.65%
THAI
: 2.35%
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PUBLIC LIMITED
COMPANY
EXECUTIVE : MR.
WU YONG, CHINESE
PRESIDENT
NO.
OF STAFF : 2,200
LINES
OF BUSINESS : HOUSEHOLD
ELECTRICAL APPLIANCES
MANUFACTURER, DISTRIBUTOR AND
EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING
NORMALLY
REPUTATION : GOOD
FOR NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on December
22, 1959 initially
as a private
limited company under
the registered name “Universal Electric
Co., Ltd.” by
Mr. Maitri Mochadara
and Mr. Suvit
Ostanugraugh as co-founders. Its
aim was to
manufacture and to
distribute household electrical
appliance such as
refrigerators, air conditioners,
electrical fans and
so on.
In 1969, the
subject entered into
a joint venture
with Sanyo Electric
Company Limited of
Japan, and its
name was changed
to “Sanyo Universal
Electric Co., Ltd.” relatively.
In 1989, the
subject was listed
on the Stock
Exchange of Thailand, and on November
1, 1993, its
status was converted
to a public
limited company under the
name “Sanyo Universal
Electric Public Company
Limited”. However, it
was listed out
from the Stock
Exchange of Thailand
on December 20,
2001.
In 2003, the
subject was certified
for ISO 9001: 2000,
TIS 18001, OHSAS
18001 for Kabinburi Plants,
in Prachinburi.
In April 2007,
Haier Group, in
Republic of China
took over the
subject from Sanyo
Electric Company Limited
of Japan, and
became the major
shareholder with 90%
holding in the
subject’s investment, then
its name was finally
changed to HAIER
ELECTRIC [THAILAND] PUBLIC
COMPANY LIMITED, on April
3, 2007, with the business objective
to manufacture and
distribute electric appliance
products under “HAIER”
brand, to both
domestic and international
markets.
The subject’s registered address
was initially located
at 3rd Floor,
Premier Place Building, 38
Srinakarin Rd., Pravet,
Bangkok 10250.
In 2007, it
registered address was
relocated to 3rd-4th Floor,
Sanyo Building, 795
Rama 9 Rd.,
Bangkapi, Huaykwang, Bangkok
10310, and this
is also the
company’s head office address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Masahiro Namba |
|
Japanese |
52 |
|
Mr. Arnat Payonithikarn |
|
Thai |
56 |
|
Mr. Wu Yong |
|
Chinese |
34 |
|
Mr. Liang Haishan |
|
Chinese |
46 |
|
Mr. Zhou Yunjie |
|
Chinese |
46 |
|
Ms. Tan Lixia |
|
Chinese |
42 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
the company’s affixed.
MANAGEMENT
Mr. Wu Yong
is the President.
He is Chinese
nationality with the
age of 34 years
old.
Mr. Masahiro Namba
is the General
Manager.
He is Japanese
nationality with the
age of 52
years old.
BUSINESS OPERATIONS
The subject’s activities
are manufacturer and
distributor of household
electrical appliances, specialized
in refrigerators, air
conditioners, washing machines
and freezers, under
its own brand
“HAIER”.
PRODUCTION CAPACITY
Refrigerator : 1,200,000 sets
per annum
Air Conditioner : 500,000
sets per annum
Washing Machine : 150,000
sets per annum
Freezer :
400,000 sets per
annum
PURCHASE
80% of its
raw materials such
as electronics and
electric components, steel
sheet, plastic resin and etc., are
purchased from local
suppliers, while 20%
of electronic parts
are imported from
Japan, Korea, Taiwan,
Singapore, Indonesia, Republic
of China, Germany,
United Kingdom and
Italy.
MAJOR SUPPLIERS
|
Name |
Country |
Products |
|
- Chachoengsao Casting Work,
Co., Ltd. |
: Thailand |
Casting Iron |
|
- Mould & Die Manufacturing
Co., Ltd. |
: Thailand |
Iron & Plastic
Mould |
|
- ICI Taiwan Ltd. |
: Taiwan |
Di-isocyanate |
|
- Basf Urethane |
: Korea |
Di-isocyanate |
|
- MC Metal [Thailand]
Co., Ltd. |
: Thailand |
Steel Sheet |
|
- Kawasho [Thailand] Co.,
Ltd. |
: Thailand |
Steel Sheet |
|
- Central Metal [Thailand]
Co., Ltd. |
: Thailand |
Steel Sheet |
|
- Siebe Appliance |
: England |
Thermostat |
|
- Atea |
: Italy |
Thermostat |
|
- SGT Controls |
: Singapore |
Thermostat |
|
- Sanyo Electronics |
: Singapore |
CKD TV |
|
- Kusatsu |
: Singapore |
Motor |
|
- Asiatec |
: Japan |
Heather |
|
- LG Chemical |
: Korea |
High Gloss Laminated
Steel |
SALES [LOCAL]
The products have
been sold locally
by Haier Electrical
Appliances [Thailand] Co.,
Ltd., the related
company.
EXPORT [COUNTRIES]
The products are exported
directly to U.S.A.,
Japan, Australia, Philippines,
Singapore, Malaysia,
Vietnam, Indonesia, and
many countries in
Middle East, Europe
and Africa.
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.
RELATED/ AFFILIATED COMPANY
Haier Electrical Appliances
[Thailand] Co., Ltd.
Business Type: Sole distributor
of “HAIER” electric
appliances
CREDIT
Local bills are
paid by cash
or on the
credits term of
30-60-90 days.
Sales are by
cash or on
the credits term
of 30-60-90 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd. :
[Bangna Branch : 13 Sukhumvit Rd.,
Bangna, Bangkok 10260]
[Srinakarin Branch : 259
Srinakarin Rd., Huamark,
Bangkapi, Bangkok ]
Kasikornbank Public Co.,
Ltd.
[Bangchak Branch : 3001
Sukhumvit Rd., Bangchak,
Prakanong, Bangkok 10260]
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
[Kabinburi Branch : 153
Chaosam-arng Rd., Kabinburi,
Prachinburi 25110 ]
Krung Thai Bank
Public Co., Ltd.
[Head
Office : 35
Sukhumvit Rd., Klongtoeynua,
Wattana, Bangkok 10110]
Bank of Ayudhya
Public Co., Ltd.
[Head
Office : 1222
Rama 3 Rd., Bangpongpang,
Yannawa, Bangkok 10120]
EMPLOYMENT
The subject employs 2,200
staff [office &
workers], comprising 1,400 permanent
staff and 800
temporary staff.
LOCATION DETAILS
The premise is owned
for administrative at
the heading address.
Premise is located
in a commercial/residential area.
Factory and warehouse
are located at
446 Moo 9,
Chachoengsao-nakornrajasima Rd., Kabinburi
Industrial Zone, T. Nongkee,
A. Kabinburi, Prachinburi 25110.
Tel. : [66] 37 204-156-73,
Fax. : [66] 37
204-204.
COMMENT
Haier Electric (Thailand)
Public Company Limited
is a public
limited company categorized under Refrigerators
Manufacturers and located in
Huaykwang, Thailand. At present,
Air
Conditioning, Freezers, Heating, Heating and
Air Conditioning, Household Refrigerators, Laundry Equipment, Refrigerators, Refrigerators and
Freezers have been
produced and market both
domestic and exported markets.
For the financial
year ending December
2011, the company
achieved a solid
sales despite the
domestic market has
suffered the worst
flood crisis.
In 2012, the
subject’s operating performance
would continue for
an improvement from
the year 2011
due to sustainable
increases in top
line revenues for
the first quarter
of the year,
that was based
on increase in
products sales and
target customer base.
FINANCIAL INFORMATION
The capital was
registered at Bht.
20,000,000, divided into
200,000 shares of
Bht. 100 each.
The capital was
increased later as
followings:
Bht.
25,900,000 on April
7, 1982
Bht.
40,000,000 on August
20, 1984
Bht.
60,000,000 on September
30, 1985
Bht.
95,000,000 on September
15, 1989
Bht.
100,000,000 on December
1, 1989
Bht.
110,000,000 on May
21, 1991
Bht.
440,000,000 in 2001
Bht.
496,170,490 in 2003
The latest capital
was increased to Bht.
12,196,170,490 divided into
1,219,617,049 shares of
Bht. 10 each
with fully paid.
MAIN SHAREHOLDERS : [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
Haier Group Company
Limited Nationality: Chinese Address : 1 Haier
Rd., Hi-Tech Zone,
Qingdao, 266101, Shandong,
Republic of China |
1,084,525,662 |
88.92 |
|
Haier Singapore Investment
Holding Pte. Ltd. Nationality: Singaporean Address : 8 Cross
Street # 10-00 PWC
Bldg.,
Singapore 048424 |
118,498,584 |
9.72 |
|
Premier Enterprise Public
Company Limited Nationality: Thai Address : 1 Soi
Premier, Srinakarin Rd.,
Nongbon, Pravet, Bangkok
|
3,463,120 |
0.28 |
|
Mr. Paibul Tangtrongsak Nationality: Thai Address : 41-45 Chakrawad
Rd., Samphantawong, Bangkok |
1,252,400 |
0.10 |
|
Mr. Virat Thirawatanawong Nationality: Thai Address : 44/5 Convent
Rd., Silom, Bangrak, Bangkok |
363,100 |
0.03 |
|
Others |
11,514,183 |
0.95 |
Total Shareholders :
732
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
715 |
28,683,690 |
2.35 |
|
Foreign |
17 |
1,190,933,359 |
97.65 |
|
Total |
732 |
1,219,617,049 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Chaisiri Reungritchai
No. 4526
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
(Unit : Baht)
|
Current
Assets |
2011 |
2010 |
|
|
|
|
|
Cash and
cash equivalents |
240,376,702 |
214,640,194 |
|
Trade accounts
and notes receivable |
1,155,095,228 |
1,075,220,644 |
|
Inventories, net |
408,250,291 |
543,013,529 |
|
Other current
assets |
14,491,432 |
12,308,844 |
|
|
|
|
|
Total Current Assets |
1,818,213,653 |
1,845,183,211 |
|
Non-Current Assets |
|
|
|
Assets
pending sales, net |
- |
28,000,000 |
|
Property,
plant and equipment,
net |
998,944,935 |
1,007,604,642 |
|
Computer
programme |
557,234 |
1,155,277 |
|
Other
non-currents assets |
3,742,814 |
2,881,315 |
|
Total Non-Current Assets |
1,003,244,983 |
1,039,641,234 |
|
|
|
|
|
Total Assets |
2,821,458,636 |
2,884,824,445 |
LIABILITIES
AND SHAREHOLDERS' EQUITY
(Unit : Baht)
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Short-term loans
from financial institutions |
- |
2,099,533 |
|
Trade accounts
& notes payable |
1,494,052,393 |
1,683,615,405 |
|
Accrued income tax |
30,224,328 |
- |
|
Other current
liabilities |
31,717,547 |
24,180,076 |
|
|
|
|
|
Total Current
Liabilities |
1,555,994,268 |
1,709,895,014 |
|
Non-Current
Liabilities |
|
|
|
Reserve for
employee’s benefit |
46,207,469 |
- |
|
|
|
|
|
Total Liabilities |
1,602,201,737 |
1,709,895,014 |
|
|
|
|
|
SHAREHOLDERS' EQUITY |
|
|
|
Share capital |
|
|
|
Registered 5,647,769
preference shares at
Baht 10 each |
56,477,690 |
56,477,690 |
|
1,213,969,280 ordinary shares at Baht 10 each |
12,139,692,800 |
12,139,692,800 |
|
|
|
|
|
Issued and fully
paid 5,647,769 preference
shares at Baht 10 each |
56,477,690 |
56,477,690 |
|
1,213,969,280 ordinary
shares at Baht 10 each |
12,139,692,800 |
12,139,692,800 |
|
Share premium |
|
|
|
Preference
shares |
1,009,255,160 |
1,009,255,160 |
|
Ordinary
shares |
[7,600,153,600] |
[7,600,153,600] |
|
Retained earnings |
|
|
|
Appropriated - statutory reserve |
44,000,000 |
44,000,000 |
|
Unappropriated |
[4,430,015,151] |
[4,474,342,619] |
|
|
|
|
|
Total Shareholders’ Equity |
1,219,256,899 |
1,174,929,431 |
|
|
|
|
|
Total Liabilities
and Shareholders’ Equity |
2,821,458,636 |
2,884,824,445 |
STATEMENTS OF EARNINGS
(Unit : Baht)
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales income |
7,557,746,115 |
7,448,219,447 |
|
Other income |
95,412,423 |
57,334,948 |
|
Gain on sales of fixed assets |
59,891,062 |
- |
|
|
|
|
|
Total Revenue |
7,713,049,600 |
7,505,554,395 |
|
|
|
|
|
Expenses |
|
|
|
Cost of
sales and service |
7,065,069,769 |
7,069,473,663 |
|
Selling expenses |
300,496,675 |
230,629,545 |
|
Administrative expenses |
229,938,354 |
205,522,618 |
|
Losses on exchange rate |
- |
6,428,984 |
|
Losses on diminution of
assets |
30,706,630 |
17,000,000 |
|
Financial expenses |
239,174 |
1,709,801 |
|
|
|
|
|
Total Expenses
|
7,626,450,602 |
7,530,764,611 |
|
|
|
|
|
Profit /[Loss] before
Income Tax |
86,598,998 |
[25,210,216] |
|
Income Tax |
[42,271,530] |
- |
|
|
|
|
|
NET PROFIT/ [LOSS] FOR THE YEAR |
44,327,468 |
[25,210,216] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.17 |
1.08 |
|
QUICK RATIO |
TIMES |
0.90 |
0.75 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.57 |
7.39 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.68 |
2.58 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
21.09 |
28.04 |
|
INVENTORY TURNOVER |
TIMES |
17.31 |
13.02 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
55.79 |
52.69 |
|
RECEIVABLES TURNOVER |
TIMES |
6.54 |
6.93 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
77.19 |
86.93 |
|
CASH CONVERSION CYCLE |
DAYS |
(0.31) |
(6.20) |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
93.48 |
94.91 |
|
SELLING & ADMINISTRATION |
% |
7.02 |
5.86 |
|
INTEREST |
% |
0.00 |
0.02 |
|
GROSS PROFIT MARGIN |
% |
8.57 |
5.85 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.15 |
(0.34) |
|
NET PROFIT MARGIN |
% |
0.59 |
(0.34) |
|
RETURN ON EQUITY |
% |
3.64 |
(2.15) |
|
RETURN ON ASSET |
% |
1.57 |
(0.87) |
|
EARNING PER SHARE |
BAHT |
0.36 |
(0.21) |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.57 |
0.59 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.31 |
1.46 |
|
TIME INTEREST EARNED |
TIMES |
362.08 |
(14.74) |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
1.47 |
|
|
OPERATING PROFIT |
% |
(443.51) |
|
|
NET PROFIT |
% |
275.83 |
|
|
FIXED ASSETS |
% |
(0.86) |
|
|
TOTAL ASSETS |
% |
(2.20) |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.57 |
Acceptable |
Industrial
Average |
12.87 |
|
Net Profit Margin |
0.59 |
Deteriorated |
Industrial
Average |
3.03 |
|
Return on Assets |
1.57 |
Deteriorated |
Industrial
Average |
5.83 |
|
Return on Equity |
3.64 |
Deteriorated |
Industrial
Average |
14.58 |
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 8.57%. When
compared with the industry average, the ratio of the company was lower, 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 0.59%.
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 1.57%.
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 3.64%.
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 |
1.17 |
Satisfactory |
Industrial Average |
1.31 |
|
Quick Ratio |
0.90 |
|
|
|
|
Cash Conversion Cycle |
(0.31) |
|
|
|
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 1.17 times in 2011, increased from 1.08 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 0.9 times in 2011,
increased from 0.75 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 -1 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.57 |
Acceptable |
Industrial
Average |
0.55 |
|
Debt to Equity Ratio |
1.31 |
Risky |
Industrial
Average |
1.23 |
|
Times Interest Earned |
362.08 |
Impressive |
Industrial
Average |
5.96 |
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 362.08 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 0.57 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 |
7.57 |
Impressive |
Industrial
Average |
4.98 |
|
Total Assets Turnover |
2.68 |
Impressive |
Industrial
Average |
1.96 |
|
Inventory Conversion Period |
21.09 |
|
|
|
|
Inventory Turnover |
17.31 |
Impressive |
Industrial
Average |
7.56 |
|
Receivables Conversion Period |
55.79 |
|
|
|
|
Receivables Turnover |
6.54 |
Impressive |
Industrial
Average |
5.46 |
|
Payables Conversion Period |
77.19 |
|
|
|
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.56.42 |
|
UK Pound |
1 |
Rs.88.45 |
|
Euro |
1 |
Rs.71.52 |
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.