MIRA
INFORM REPORT
|
Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
ATOM-MIC
POWER CO., LTD. |
|
|
|
|
Registered Office : |
50/596 Moo 6, T. Banmai, A. Pakkred, Nonthaburi 11120 |
|
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Country : |
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|
|
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Financials (as on) : |
31.10.2011 |
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|
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Date of Incorporation : |
24.11.1999 |
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|
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Com. Reg. No.: |
0125542007359 |
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Legal Form : |
Private
Limited Company |
|
|
|
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Line of Business : |
Importer and distributor
of electrical system components |
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|
|
No. of Employees : |
12 |
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
ATOM-MIC POWER CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 50/596 MOO
6, T. BANMAI, A. PAKKRED,
NONTHABURI 11120,
THAILAND
TELEPHONE : [66] 2503-3535
FAX :
[66] 2503-3519-20
E-MAIL
ADDRESS : info@atommicpower.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0125542007359
TAX
ID NO. : 3030009449
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : OCTOBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SURIYAN TANGHARAT,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 12
LINES
OF BUSINESS : ELECTRICAL SYSTEM
COMPONENTS
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on November 24,
1999 as a
private limited company under the registered name
ATOM-MIC POWER CO., LTD., by
Thai groups, with the business
objective to distribute wide range
of electrical system
components and provide
electronic system design
consulting services. It
currently employs 12
staff.
The
subject’s registered address
was initially located
at 126/1462 Moo 5,
Pakkred, Nonthaburi 11120.
In
2010 the subject’s
registered address was
relocated to 50/596
Moo 6, T. Banmai,
A. Pakkred, Nonthaburi 11120,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
Mr. Suriyan Tangharat
AUTHORIZED PERSON
The above director
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Suriyan Tangharat is
the Managing Director.
He is Thai
nationality with the
age of 39
years old.
BUSINESS OPERATIONS
The subject is
engaged in importing and distributing wide range of electrical system components, as well as providing of
electronic system design consulting
services to industrial
electric system developers,
builders and home
suppliers.
The subject is
also authorized distributing
of electrical products
under various brands “Moeller”, “Connectwell”, “Giovenzana”, “Elco”,
“Relequick”, “Katko”, and
“Hakel”. Range of
products and brands
are as follows :
“Connectwell”
-
Terminal
blocks
-
Interface
modules
-
Tool & accessories
-
Sockets & switches
“Katko”
-
Safety
switches
-
Side
operated switches
-
ATEX
switches
-
Change-over
switches
-
Bypass
switch for frequency
inverter
-
Accessories
-
Technical
data
-
Load
break switches
-
Terminal
blocks
-
Cable glands
“Hakel”
-
AC
supply system
-
DC
supply system
-
PC
computer protection
-
Video
signal protection
-
Cable
protection
-
Over
voltage protection
-
Digital
lightning counter
-
Outdoor
high voltage system
-
Outdoor
low voltage system
-
Indoor
high voltage AC/ DC
system
-
Outdoor
high voltage AC
system
-
Composite
insulator
“Relequick”
-
Relays
-
Solid-state
relays
“Giovenzana”
-
Cam switches
-
Limit
switches
-
Micro
switches
-
Foot
switches
-
Lift switches
-
Crane & Hoy
switches
-
Energy
and data transmission
“Elco”
-
Slim
solid state relay
-
Solid
state relay with
heat sink
-
Power supply
“Fanox”
-
Motor
protection relays
-
Pump
protection relays
-
Soft
starters and motor
controller
-
Control relays
-
Voltage & frequency monitoring
relays
-
Earth
leakage relays
-
Technical
data
-
Accessories
“Gruppo”
-
Capacitor
-
Contactors
-
Power
factor automatic
“AMP”
-
Technical
data
-
Push buttons
-
Pilot lamp
-
Emergency
-
Selector
switch
“Moeller”
-
Industrial
switchgear
-
DIL
contactors
-
PKZ
motor-protective circuit breakers
-
MSC
motor-starters
-
DS4
soft starters
-
DF & DV
drives
-
Rapid link
etc.
IMPORT
90%
of the products
is imported from
Germany, Czech Republic,
Spain, Finland, Netherlands
and Italy.
MAJOR
SUPPLIERS
Giovenzana International B.V : Netherlands
EL. Co Srl. : Italy
Katko OY : Finland
Hakel Trade : Czech
Republic
Fanox : Spain
AMP : Germany
Eaton Corporation GmbH. : Germany
SALES
100% of the
products is sold
locally to wholesalers,
manufacturers and end-users.
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to
have any subsidiary
nor 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
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject employs 12
staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in provincial,
on the outskirts
of Bangkok.
REMARK
MAXIMUM
CREDIT SHOULD BE
GRANTED AT EUR
150,000.
COMMENT
Subject’s
business performance remains moderate
as its products
have been widely
used in various
industries. Domestic sales
also maintain at
good level. Its
business outlook is promising.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
February 28, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Suriyan Tangharat Nationality: Thai Address : 126/1462
Moo 5, Pakkred,
Nonthaburi |
6,000 |
60.00 |
|
Mr. Watchapong Tangharat Nationality: Thai Address : 31/32
Moo 4, Banpa,
Kaengkoi, Saraburi |
3,000 |
30.00 |
|
Mrs. Laddawan Tangharat Nationality: Thai Address : 81
Padungraj Rd., Pakpraek,
Thungsong, Nakornsrithammarat |
400 |
4.00 |
|
Ms. Sivilai Tangharat Nationality: Thai Address : 692/97
Petchburi Rd., Petchburi,
Rajthewi, Bangkok |
300 |
3.00 |
|
Ms. Walkana Burathanin Nationality: Thai Address : 53/6
Panieng Rd., Wadsomanus,
Pomprab, Bangkok
|
100 |
1.00 |
|
Mrs. Ajchara Burapathanin Nationality: Thai Address : 53/6
Panieng Rd., Wadsomanus,
Pomprab, Bangkok
|
100 |
1.00 |
|
Mr. Jirasak Burapathanin Nationality: Thai Address : 53/6
Panieng Rd., Wadsomanus,
Pomprab, Bangkok
|
100 |
1.00 |
Total Shareholders : 7
Share
Structure [as at
February 28, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
10,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
10,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Voranuch Srisanpang No.
7256
BALANCE SHEET [BAHT]
The latest financial figures published for October 31, 2011 & 2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalent |
11,672,752.02 |
3,969,512.58 |
|
Trade Accounts &
Other Receivable |
8,126,412.11 |
4,481,460.76 |
|
Short-term Loan to Person
or Related Company |
- |
1,800,000.00 |
|
Other Current Assets |
- |
65,803.90 |
|
|
|
|
|
Total Current Assets
|
19,799,164.13 |
10,316,777.24 |
|
|
|
|
|
Fixed Assets |
419,520.00 |
650,698.38 |
|
Total Assets |
20,218,684.13 |
10,967,475.62 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Trade Accounts &
Other Payable |
9,600,228.91 |
3,740,016.69 |
|
Current Portion of Long-term
Loan from Financial Institution |
- |
93,792.37 |
|
Short-term Loan from Person
or Related Company |
2,234,000.00 |
- |
|
Other Current Liabilities |
255,183.77 |
170,310.76 |
|
|
|
|
|
Total Current Liabilities |
12,089,412.68 |
4,004,119.82 |
|
Total Liabilities |
12,089,412.68 |
4,004,119.82 |
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
|
|
|
|
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
|
Retained Earnings
Unappropriated |
7,129,271.45 |
5,963,355.80 |
|
Total Shareholders' Equity |
8,129,271.45 |
6,963,355.80 |
|
Total Liabilities & Shareholders' Equity |
20,218,684.13 |
10,967,475.62 |
PROFIT & LOSS ACCOUNT
|
Sale |
2011 |
2010 |
|
|
|
|
|
Sales Income |
49,969,916.38 |
35,536,298.67 |
|
Other Income |
- |
35,803.90 |
|
Total Sales |
49,969,916.38 |
35,572,102.57 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
42,464,377.95 |
28,997,570.63 |
|
Selling Expenses |
1,721,823.82 |
697,817.17 |
|
Administrative Expenses |
4,392,493.74 |
4,632,046.50 |
|
Total Expenses |
48,578,695.51 |
34,327,434.30 |
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
1,391,220.87 |
1,244,668.27 |
|
Financial Cost |
- |
[88,943.72] |
|
Profit / [Loss] before Income Tax |
1,391,220.87 |
1,155,724.55 |
|
Income Tax |
[225,305.22] |
[166,431.14] |
|
|
|
|
|
Net Profit / [Loss] |
1,165,915.65 |
989,293.41 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.64 |
2.58 |
|
QUICK RATIO |
TIMES |
1.64 |
2.56 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
119.11 |
54.61 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.47 |
3.24 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
59.36 |
46.03 |
|
RECEIVABLES TURNOVER |
TIMES |
6.15 |
7.93 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
82.52 |
47.08 |
|
CASH CONVERSION CYCLE |
DAYS |
(23.16) |
(1.05) |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
84.98 |
81.60 |
|
SELLING & ADMINISTRATION |
% |
12.24 |
15.00 |
|
INTEREST |
% |
- |
0.25 |
|
GROSS PROFIT MARGIN |
% |
15.02 |
18.50 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.78 |
3.50 |
|
NET PROFIT MARGIN |
% |
2.33 |
2.78 |
|
RETURN ON EQUITY |
% |
14.34 |
14.21 |
|
RETURN ON ASSET |
% |
5.77 |
9.02 |
|
EARNING PER SHARE |
BAHT |
116.59 |
98.93 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.60 |
0.37 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.49 |
0.58 |
|
TIME INTEREST EARNED |
TIMES |
- |
13.99 |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
40.62 |
|
|
OPERATING PROFIT |
% |
11.77 |
|
|
NET PROFIT |
% |
17.85 |
|
|
FIXED ASSETS |
% |
(35.53) |
|
|
TOTAL ASSETS |
% |
84.35 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
15.02 |
Impressive |
Industrial
Average |
14.70 |
|
Net Profit Margin |
2.33 |
Impressive |
Industrial
Average |
1.40 |
|
Return on Assets |
5.77 |
Impressive |
Industrial
Average |
3.07 |
|
Return on Equity |
14.34 |
Impressive |
Industrial
Average |
8.28 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from sales 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 15.02%. 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 2.33% 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 5.77%, 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. Return on Equity ratio
is 14.34%, 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 Downtrend
LIQUIDITY RATIO
|
Current Ratio |
1.64 |
Impressive |
Industrial
Average |
1.51 |
|
Quick Ratio |
1.64 |
|
|
|
|
Cash Conversion Cycle |
(23.16) |
|
|
|
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 1.64 times in 2011, decreased from 2.58 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 1.64 times in 2011,
decreased from 2.56 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 -24 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.60 |
Impressive |
Industrial
Average |
0.63 |
|
Debt to Equity Ratio |
1.49 |
Acceptable |
Industrial
Average |
1.67 |
|
Times Interest Earned |
- |
|
Industrial
Average |
3.28 |
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 0.6 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 |
119.11 |
Impressive |
Industrial
Average |
11.17 |
|
Total Assets Turnover |
2.47 |
Impressive |
Industrial
Average |
2.18 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial
Average |
4.99 |
|
Receivables Conversion Period |
59.36 |
|
|
|
|
Receivables Turnover |
6.15 |
Impressive |
Industrial
Average |
4.65 |
|
Payables Conversion Period |
82.52 |
|
|
|
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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.34 |
|
UK Pound |
1 |
Rs.86.11 |
|
Euro |
1 |
Rs.69.07 |
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.