MIRA
INFORM REPORT
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Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
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Name : |
AA METAL SCRAP LIMITED PARTNERSHIP |
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Registered Office : |
54/92 Soi Prachauthit
33 Yaek 4, |
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Country : |
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Financials (as on) : |
2010 |
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Date of Incorporation : |
2007 |
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Com. Reg. No.: |
0103550035569 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Distributor And Exporter, Metal Scraps & Metal Recycled Products |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – September 30, 2011
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
AA METAL SCRAP LIMITED PARTNERSHIP
SUMMARY
BUSINESS ADDRESS : 54/92
SOI PRACHAUTHIT 33
YAEK 4,
THUNGKRU,
TELEPHONE
: [66] 2872-5484,
081 807-6544, 089
016-9914
FAX :
[66] 2872-5485
E-MAIL ADDRESS : ankur.aa@aametalscrap.com
ankrisa.aa@aametalscrap.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2007
REGISTRATION NO. : 0103550035569
TAX ID NO. : 3032844086
CAPITAL REGISTERED : BHT.
4,000,000
CAPITAL PAID-UP
: BHT.
4,000,000
SHAREHOLDER’S PROPORTION : THAI :
52%
INDIAN
: 48%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : LIMITED PARTNERSHIP
EXECUTIVE
: MS. ANKRISA CHAROENWANYING, THAI
MANAGING PARTNER
NO. OF
STAFF : 10
LINES OF
BUSINESS : METAL
SCRAPS & METAL
RECYCLED PRODUCTS
DISTRIBUTOR AND
EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject
was established on
November 5, 2007
as a limited
partnership under the name style
AA METAL SCRAP LIMITED
PARTNERSHIP by Thai
and Indian partners, with the
business objective to
purchase and supply
various metal scraps
and metal recycled
products to both
domestic and overseas.
It currently employs
10 staff.
The subject’s
registered address was
initially located at
90/92 Moo 4,
Prachauthit Rd., Bangmod,
Thungkru, Bangkok 10140.
On November
1, 2011, its
registered address was
changed to 54/92
Soi Prachauthit 33
Yaek 4, Prachauthit
Rd., Bangmod, Thungkru,
Bangkok 10140, by
the Thungkru District
Office, and this
is the subject’s
current operation address.
AUTHORIZED PERSON
Ms. Ankrisa
Charoenwanying can sign
on behalf of
the subject with
seal affixed. She
also bears the
full financial responsibility by
law.
MANAGEMENT
Ms. Ankrisa
Charoenwanying
is the Managing
Partner.
She is Thai
nationality with the
age of 30
years old.
Mr. Ankur Dubey is the
General Manager.
He is Indian
nationality with the
age of 46
years old.
BUSINESS OPERATIONS
The subject is engaged
in purchasing, distributing
and exporting wide range
of metal scraps
and metal recycled
products. Its products
are as follows:
- Scrap
rolls; hot/cold rolled
steel, used & discard rolled
steel
- Steel
scraps
- Aluminum
scraps; aluminum tense,
aluminum turning and
UBC can
- Stainless
steel scrap
- Tungsten
carbide scraps
- High
speed steel scraps
- SKD 11
and SKD 61 steels
- Mineral
[manganese ore]
- Light
melting scraps
PURCHASE
100% of
the products is
purchased from local
suppliers.
SALES
Its products
are sold by
wholesale to manufacturers
both local and
overseas, such as
India, Singapore and
Indonesia.
RELATED AND AFFILIATED
COMPANY
Royal Freight &
Cargo Co., Ltd.
Business Type :
Freight forwarding
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
according the past two
years.
CREDIT
Sales are by
cash or on
the credit term
of 30 days.
Local bills are
paid by cash
or on the
credits term of
30 days.
Exports are against
T/T.
BANKING
Bangkok Bank
Public Co., Ltd.
EMPLOYMENT
The subject
employs approximately 10 staff.
LOCATION DETAILS
The premise
is owned for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
COMMENT
Subject purchases, sell and
exports metal scraps
for recycle processing. The products
are varies such as steel, stainless steel, brass,
aluminum, tungsten and etc.
Subject reported a
sharply drop in
sales revenue in
2010 comparing to the
previous year, however
it managed to
obtain net profit
at the end
of year.
Nevertheless its
business in 2012
is moderately grown.
FINANCIAL INFORMATION
The capital
was originally registered
at Bht. 1,000,000 which was carried by 2
persons as followed:
Name Amount
Ms. Ankrisa
Charoenwanying Bht. 900,000 [Unlimited
Partner]
Mrs. Chaleaw
Charoenwanying Bht. 100,000
On February 13,
2008, capital was
increased to Bht.
2,000,000 which was
carried by 3
persons as followed:
Name Amount
Ms. Ankrisa
Charoenwanying Bht. 1,400,000
[Unlimited Partner]
Mrs. Chaleaw
Charoenwanying Bht. 100,000
Mr. Angkur Dubey Bht. 500,000
On March 13,
2008, capital was
held by 3
persons as followed:
Name Amount
Ms. Ankrisa
Charoenwanying Bht. 1,020,000
[Unlimited Partner]
Mrs. Chaleaw
Charoenwanying Bht. 20,000
Mr. Angkur Dubey Bht. 960,000
On November 1,
2011, capital was
increased to Bht.
4,000,000 which was
carried by 3
persons as followed:
Name Age Amount
Ms. Ankrisa
Charoenwanying 30 Bht.
2,040,000 [Unlimited Partner]
Mrs. Chaleaw
Charoenwanying 56 Bht. 40,000
Mr. Angkur Dubey [Indian] 46 Bht. 1,920,000
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
None.
Note
The 2011 financial
statement has not
submitted to the
Commercial Registration Department
during investigation.
BALANCE SHEET [BAHT]
The latest
financial figures published
for December 31,
2010 & 2009
were:
ASSETS
|
Current
Assets |
2010 |
2009 |
|
|
|
|
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Cash and Cash
Equivalent |
131,798.35 |
134,949.92 |
|
Short-term Loan
to Person or Related Company |
2,000,000.00 |
2,000,000.00 |
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Inventories |
- |
248,496.12 |
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Other Current Assets |
262,506.73 |
181,914.54 |
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Total Current Assets |
2,394,305.08 |
2,565,360.58 |
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Fixed Assets
|
621,448.77 |
- |
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Total Assets |
3,015,753.85 |
2,565,360.58 |
LIABILITIES
& SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
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|
|
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Trade Accounts Payable |
- |
38,548.73 |
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Current Portion
of Long-term Liabilities |
104,288.13 |
- |
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Deposits |
- |
193,122.15 |
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Other Current Liabilities |
108,087.96 |
80,564.17 |
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Total Current Liabilities |
212,376.09 |
312,235.05 |
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Long-term
Lease Contract Liabilities |
408,645.77 |
- |
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Total Liabilities |
621,021.86 |
312,235.05 |
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Shareholders’ Equity |
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Capital Paid |
2,000,000.00 |
2,000,000.00 |
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Retained
Earning Unappropriated |
394,731.99 |
253,125.53 |
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Total Shareholders' Equity |
2,394,731.99 |
2,253,125.53 |
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Total Liabilities
& Shareholders' Equity |
3,015,753.85 |
2,565,360.58 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2010 |
2009 |
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Sales &
Services Income |
9,755,195.36 |
15,366,860.47 |
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Other Income |
3,353.96 |
40,000.33 |
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Total Revenues |
9,758,549.32 |
15,406,860.80 |
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Expenses |
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Cost of Goods
Sold & Services |
8,390,544.73 |
14,102,205.63 |
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Administrative
Expenses |
1,226,398.13 |
1,169,625.03 |
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Total Expenses |
9,616,942.86 |
15,271,830.66 |
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Net Profit / [Loss]
|
141,606.46 |
135,030.14 |
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Retained Earning,
Beginning of Year |
253,125.53 |
118,095.39 |
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Retained Earning,
End of Year |
394,731.99 |
253,125.53 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
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LIQUIDITY
RATIO |
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CURRENT RATIO |
TIMES |
11.27 |
8.22 |
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QUICK RATIO |
TIMES |
10.04 |
6.84 |
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ACTIVITY
RATIO |
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FIXED ASSETS TURNOVER |
TIMES |
15.70 |
- |
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TOTAL ASSETS TURNOVER |
TIMES |
3.23 |
5.99 |
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INVENTORY CONVERSION PERIOD |
DAYS |
- |
6.43 |
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INVENTORY TURNOVER |
TIMES |
- |
56.75 |
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RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
- |
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RECEIVABLES TURNOVER |
TIMES |
- |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
1.00 |
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CASH CONVERSION CYCLE |
DAYS |
- |
5.43 |
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PROFITABILITY
RATIO |
|
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COST OF GOODS SOLD |
% |
86.01 |
91.77 |
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SELLING & ADMINISTRATION |
% |
12.57 |
7.61 |
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INTEREST |
% |
- |
- |
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GROSS PROFIT MARGIN |
% |
14.02 |
8.49 |
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NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.45 |
0.88 |
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NET PROFIT MARGIN |
% |
1.45 |
0.88 |
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RETURN ON EQUITY |
% |
5.91 |
5.99 |
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RETURN ON ASSET |
% |
4.70 |
5.26 |
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LEVERAGE
RATIO |
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DEBT RATIO |
TIMES |
0.21 |
0.12 |
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DEBT TO EQUITY RATIO |
TIMES |
0.26 |
0.14 |
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TIME INTEREST EARNED |
TIMES |
- |
- |
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ANNUAL
GROWTH |
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SALES GROWTH |
% |
(36.52) |
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OPERATING PROFIT |
% |
4.87 |
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NET PROFIT |
% |
4.87 |
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FIXED ASSETS |
% |
- |
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TOTAL ASSETS |
% |
17.56 |
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PROFITABILITY
RATIO
|
Gross Profit Margin |
14.02 |
Impressive |
Industrial
Average |
5.78 |
|
Net Profit Margin |
1.45 |
Impressive |
Industrial
Average |
0.78 |
|
Return on Assets |
4.70 |
Impressive |
Industrial
Average |
2.01 |
|
Return on Equity |
5.91 |
Satisfactory |
Industrial
Average |
6.86 |
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 14.02%. 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 1.45% 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 4.7%, 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 5.91%.
Trend
of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY
RATIO
|
Current Ratio |
11.27 |
Impressive |
Industrial
Average |
1.26 |
|
Quick Ratio |
10.04 |
|
|
|
|
Cash Conversion Cycle |
- |
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|
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 11.27 times in 2010, increased from 8.22 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 10.04
times in 2010, increased from 6.84 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 |
0.21 |
Impressive |
Industrial
Average |
0.68 |
|
Debt to Equity Ratio |
0.26 |
Impressive |
Industrial
Average |
2.34 |
|
Times Interest Earned |
- |
|
Industrial
Average |
1.82 |
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 0.21 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 |
15.70 |
Impressive |
Industrial
Average |
10.39 |
|
Total Assets Turnover |
3.23 |
Impressive |
Industrial
Average |
2.58 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial
Average |
6.06 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial
Average |
5.78 |
|
Payables Conversion Period |
- |
|
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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.53.33 |
|
|
1 |
Rs.86.10 |
|
Euro |
1 |
Rs.69.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.