MIRA INFORM REPORT
|
Report Date : |
14.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
LADENSTEIN
CO., LTD. |
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|
|
|
Registered Office : |
24
Moo 9, T. Bangkuwat, A. Muang, Pathumthani 12000 |
|
|
|
|
Country : |
Thailand |
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|
|
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Financials (as on) : |
31.12.2005 |
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|
|
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Date of Incorporation : |
30.05.1990 |
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Com. Reg. No.: |
0105533061079 |
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Legal Form : |
Private
Limited Company |
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|
|
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Line of Business : |
Shipyard Operator |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Stopped operations |
|
Payment
Behaviour : |
---- |
|
Litigation : |
---- |
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Thailand |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LADENSTEIN CO.,
LTD.
BUSINESS
ADDRESS : -
TELEPHONE : -
FAX :
-
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : 24
MOO 9, T. BANGKUWAT,
A. MUANG,
PATHUMTHANI 12000,
THAILAND
ESTABLISHED
: 1990
REGISTRATION
NO. : 0105533061079
CAPITAL REGISTERED : BHT. 80,000,000
CAPITAL PAID-UP : BHT.
80,000,000
SHAREHOLDER’S PROPORTION : THAI : 69.37%
FOREIGN :
30.63%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : -
NO.
OF STAFF : -
LINES
OF BUSINESS : SHIPYARD OPERATOR
OPERATING
TREND : -
PRESENT
SITUATION : STOPPED OPERATION
REPUTATION : -
MANAGEMENT
STANDARD : -
The
subject was established
on May 30,
1990 as a
private limited company
under the originally
registered name “Siam
Princeton Yacht Co.,
Ltd.” by a
joint venture between
Thai and Austrian
groups. On December
24, 1992, its
registered name was
changed to LADENSTEIN CO., LTD. Its
business objective was
to engage in
shipyard business.
In
2006, the subject
ceased the business
operation due to the company’s
financial crisis.
On
August 17, 2009,
the subject has
been ordered by
the Central Bankruptcy
Court, to be
bankruptcy with the
decided court red
case no. 2228/2550.
Presently,
the shipyard is
operated under the
firm name “Pathumthani
Yacht Limited Partnership”,
which is owned
by Mr. Thanawuth Bhirombhakdi,
who is one
of the subject’s
shareholders. However, both
firms are not
related company.
The
registered address was located at
24 Moo 9, T.
Bangkuwat, A. Muang, Pathumthani
12000.
[before bankruptcy]
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Puthipong Rattana |
|
Thai |
44 |
|
Mr. Jaturaporn Pongkanchanakura |
|
Thai |
44 |
|
Mr. Marcus Ladenstein |
|
Austrian |
46 |
Any two of
the above directors
can jointly sign
on behalf of the subject
with company’s affixed.
COMMENT
As
the subject is
ordered bankruptcy, any
credit amount is
not recommended.
The
capital was registered at
Bht. 1,000,000 divided into 1,000
shares of Bht. 1,000 each with
fully paid.
The
capital was increased
later as follows:
Bht. 50,000,000
on November 10,
1987
Bht. 80,000,000
on April 30,
1996
The
latest registered capital
was increased to Bht. 80,000,000 divided
into Bht. 80,000
shares of Bht.
1,000 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30, 2006]
|
NAME |
HOLDING |
% |
|
|
|
|
|
B.B. Group Co.,
Ltd. Nationality: Thai Address : 518/2
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok |
39,500 |
49.37 |
|
Mr. Klaus Deter Lilizkies Nationality: German Address : 424
Moo 15, Bangna-Trad
Rd.,
Bangkaew, Bangplee, Samutprakarn |
12,200 |
15.25 |
|
Mr. Thanawuth Bhirombhakdi Nationality: Thai Address : 2367
Ramkhamhaeng Rd.,
Huamark, Bangkapi, Bangkok |
9,020 |
11.27 |
|
Mr. Wutha Bhirombhakdi Nationality: Thai Address : 2367
Ramkhamhaeng Rd., Huamark, Bangkapi,
Bangkok |
4,960 |
6.20 |
|
Mr. Joseph Ladenstein Nationality: Austrian Address : Austria |
4,100 |
5.13 |
|
Mr. Urwin Ladenstein Nationality: Austrian Address : Austria |
4,100 |
5.13 |
|
Mr. Marcus Ladenstein Nationality: Austrian Address : Austria |
4,100 |
5.13 |
|
Mr. Piya Bhirombhakdi Nationality: Thai Address : 12
Sukhumvit 39 Rd.,
Klongton,
Prakanong, Bangkok |
2,000 |
2.50 |
|
|
|
|
Mr. Manop Thiwaree Nationality: Thai Address : 70
Sukhumvit 26 Rd.,
Klongton,
Klongtoey, Bangkok |
20 |
0.02 |
Total Shareholders : 9
Shareholders Structure [as
at April 30,
2006]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
55,500 |
69.37 |
|
Foreign |
4 |
24,500 |
30.63 |
|
Total |
9 |
80,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Vorawech Chit-anong No.
4066
Note
The 2006 financial statement was not submitted to the Commercial Registration Department during investigation.
The financial figures published as at December 31, 2005 & 2004 were:
ASSETS
|
Current Assets |
2005 |
2004 |
|
|
|
|
|
Cash and Cash Equivalents |
718,522.59 |
882,644.56 |
|
Trade Accounts Receivable |
1,536,303.48 |
5,097,090.22 |
|
Trade Accounts Receivable-Related Company |
270,947.98 |
- |
|
Inventories |
67,863,553.65 |
96,098,273.06 |
|
Other Current Assets
|
247,756.74 |
902,400.03 |
|
|
|
|
|
Total Current Assets
|
70,637,084.44 |
102,980,407.87 |
|
Fixed Asset |
39,888,246.78 |
42,030,799.24 |
|
Other asset |
56,520.00 |
96,520.00 |
|
Total Assets |
110,581,851.22 |
145,107,727.11 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2005 |
2004 |
|
|
|
|
|
Bank Overdraft |
25,799,511.35 |
23,679,152.09 |
|
Trade Accounts Payable |
989,664.92 |
2,812,968.77 |
|
Accrued Expenses |
1,354,265.43 |
710,223.45 |
|
Accrued Expenses-Person &
Related Company |
55,203,916.17 |
51,449,837.90 |
|
Other Payable - Person &
Related Company |
7,075,952.77 |
6,845,189.63 |
|
Loan - Person & Related Company
|
114,978,454.28 |
114,080,037.53 |
|
Pre-received Contract Deposit |
27,785,841.28 |
67,665,967.86 |
|
Other Current Liabilities |
395,676.45 |
77,008.55 |
|
|
|
|
|
Total Current Liabilities |
233,583,282.65 |
267,320,385.78 |
|
Lease Contract Payable,
net of Current Portion |
453,117.59 |
- |
|
Total Liabilities |
234,036,400.24 |
267,320,385.78 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 80,000 shares |
80,000,000.00 |
80,000,000.00 |
|
|
|
|
|
Capital Paid |
80,000,000.00 |
80,000,000.00 |
|
Retained Earning - Unappropriated |
[203,454,549.02] |
[202,212,658.67] |
|
Total Shareholders' Equity |
[123,454,549.02] |
[122,212,658.67] |
|
Total Liabilities &
Shareholders' Equity |
110,581,851.22 |
145,107,727.11 |
|
Revenue |
2005 |
2004 |
|
|
|
|
|
Sales & Services
Income |
84,485,470.24 |
53,723,114.24 |
|
Other Income |
985,869.40 |
1,192,446.78 |
|
Total Revenues |
85,471,339.64 |
54,915,561.02 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold and Services
|
70,772,179.58 |
45,660,542.38 |
|
Selling and Administrative Expenses |
11,281,994.66 |
7,522,597.10 |
|
Total Expenses |
82,054,174.24 |
53,183,139.48 |
|
|
|
|
|
Profit Before Interest
Expenses |
3,417,165.40 |
1,732,421.54 |
|
Interest Expenses |
[4,659,055.75] |
[3,963,917.12] |
|
|
|
|
|
Net Profit / [Loss] |
[1,241,890.35] |
[2,231,495.58] |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.85 |
|
UK Pound |
1 |
Rs.77.97 |
|
Euro |
1 |
Rs.65.62 |
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.