MIRA
INFORM REPORT
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Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
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Name : |
PRUDENTIAL
AMPRI [ |
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Registered Office : |
Room 107, Suchart-Leelawadee Home Building, Moo 5, Soi Maneerat-Osot, Srinakarin Road, Samrongnua, Muang, Samutprakarn 10270 |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
18.11.2003 |
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Com. Reg. No.: |
0105546138938 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer contractor of cleanroom garment |
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No. of Employees : |
200 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Thailand |
B1 |
B1 |
|
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
PRUDENTIAL AMPRI [THAILAND] CO., LTD.
SUMMARY
BUSINESS
ADDRESS : ROOM
107, SUCHART-LEELAWADEE HOME
BUILDING,
838 MOO 5,
SOI MANEERAT-OSOT,
SRINAKARIN ROAD,
SAMRONGNUA,
MUANG,
SAMUTPRAKARN 10270
TELEPHONE : [66] 2748-7179,
086 789-8806
FAX : [66] 2748-7177
E-MAIL
ADDRESS : utharn@gmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2003
REGISTRATION
NO. : 0105546138938
TAX
ID NO. : 3031167223
CAPITAL REGISTERED : BHT. 13,000,000
CAPITAL PAID-UP : BHT. 7,000,000
SHAREHOLDER’S PROPORTION : THAI : 51%
MALAYSIAN :
49%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. UTHARN SATAYARAKS,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 200
LINES
OF BUSINESS : CLEANROOM GARMENT
MANUFACTURE CONTRACTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : -
MANAGEMENT
STANDARD : -
HISTORY
The
subject was established
on November 18,
2003 as a
private limited company
under the registered name
PRUDENTIAL AMPRI [THAILAND] CO., LTD.,
by Thai and Malaysian groups,
with the business
objective to provide
manufacturing service various
kinds of cleanroom
products to both
domestic and international
markets. It currently
employs approximate 200
staff.
The
subject’s registered address
was initially located
at 23/78 Soi
Ladprao 23, Ladyao,
Jatujak, Bangkok 10900.
On
September 22, 2011,
its registered address
was relocated to
Room 107 Suchart-Leelawadee Home
Building, 838 Moo 5, Soi Maneerat-Osot, Srinakarin Rd.,
Samrongnua, Muang, Samutprakarn
10270, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
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Nationality |
Age |
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Mr. Phng Wee Kiat |
[-] |
Malaysian |
45 |
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Mr. Utharn Satayaraks |
[-] [x] |
Thai |
45 |
|
Mrs. Teerada Satayaraks |
[x] |
Thai |
43 |
|
Mr. Arthorn Satayaraks |
[x] |
Thai |
79 |
|
Mrs. Hew Lilyn Patricia |
|
Malaysian |
42 |
|
Ms. Chuleeporn Chaychaidamrong |
[x] |
Thai |
31 |
|
Mrs. May Phng |
|
Malaysian |
65 |
AUTHORIZED PERSON
Any two of
the mentioned directors
[x] can jointly sign
or both of
the mentioned directors
[-] can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Utharn Satayaraks is
the Managing Director.
He is Thai
nationality with the
age of 45
years old.
Ms. Chuleeporn Chaychaidamrong is
the General Manager.
She is Thai
nationality with the
age of 31
years old.
BUSINESS OPERATIONS
The subject is engaged in design and contracted manufacturing, exporting
and distributing various
kinds of cleanroom garment
products, such as
jumpsuits, operation gowns,
smocks, hoods, uniforms
and others. The
production has been started
in 2011.
PURCHASE
100%
of raw materials
and accessories are
purchased from local
suppliers.
SALES
90% of the
products is exported
to U.S.A., Japan,
Hong Kong, Korea
and European countries,
the remaining 10%
is sold locally.
MAJOR CUSTOMERS
Transforming Technologies Inc. : U.S.A.
Western Digital [Fremont]
Inc. : U.S.A.
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.
Exports are against
T/T.
BANKING
The banker’s name
was not disclosed.
EMPLOYMENT
The
subject employs approximately
200 office staff
and factory workers.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Factory
is located at
99/1 Moo 5,
Chaengsanit Rd., T. Huadon,
A. Kuengnai, Ubonratchathani 34150.
COMMENT
Subject
has started its
productions in 2011, therefore it
posted zero sales
for the year 2010. Industrial expansion has
sourced for more cleaning supplies
including proper cleaning garments.
Subject has strong potential in its business line.
FINANCIAL INFORMATION
The
capital was registered at
Bht. 1,000,000 divided into 10,000
shares of Bht.
100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 5,000,000
on December 2,
2010
Bht. 13,000,000
on June 20,
2011
The
latest registered capital
was increased to
Bht. 13,000,000 divided into
130,000 shares of
Bht. 100 each with
current capital paid-up
at Bht. 7,000,000.
THE
SHAREHOLDERS LISTED WERE
: [as at
December 9, 2011]
at Bht. 7,000,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
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Mr. Utharn Satayaraks Nationality: Thai Address : 23/78
Soi Ladprao 23,
Ladyao,
Jatujak, Bangkok |
53,300 |
41.00 |
|
Mr. Phng Wee Kiat Nationality: Malaysian Address : Kuala
Lumpur, Malaysia |
26,000 |
20.00 |
|
Mrs. May Phng Nationality: Malaysian Address : Kuala
Lumpur, Malaysia |
26,000 |
20.00 |
|
Mrs. Teerada Satayaraks Nationality: Thai Address : 23/78
Soi Ladprao 23,
Ladyao,
Jatujak, Bangkok |
11,700 |
9.00 |
|
Mrs. Hew Lilyn Patricia Nationality: Malaysian Address : Kuala
Lumpur, Malaysia |
11,700 |
9.00 |
|
Ms. Chuleeporn Chaychaidamrong Nationality: Thai Address : 141
Soi Lasalle 3,
Bangna, Bangkok |
1,300 |
1.00 |
Total Shareholders : 6
Share Structure [as
at December 9, 2011]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
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Thai |
3 |
66,300 |
51.00 |
|
Foreign - Malaysian |
3 |
63,700 |
49.00 |
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Total |
6 |
130,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Sukhon Rithpairoj No.
4119
Note:
The 2011 financial
statement has yet
been 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 in Hand |
219,050.00 |
224,050.00 |
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Total Current Assets
|
219,050.00 |
224,050.00 |
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Total Assets |
219,050.00 |
224,050.00 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2010 |
2009 |
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Other Current Liabilities |
20,000.00 |
20,000.00 |
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Total Current Liabilities |
20,000.00 |
20,000.00 |
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Total Liabilities |
20,000.00 |
20,000.00 |
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Shareholders’ Equity |
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|
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Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
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Capital Paid |
250,000.00 |
250,000.00 |
|
Retained Earning Unappropriated |
[50,950.00] |
[45,950.00] |
|
Total Shareholders' Equity |
199,050.00 |
204,050.00 |
|
Total Liabilities & Shareholders' Equity |
219,050.00 |
224,050.00 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2010 |
2009 |
|
|
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Sales Income |
- |
- |
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Total Revenues |
- |
- |
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Expenses |
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Administrative Expenses |
5,000.00 |
5,000.00 |
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Total Expenses |
5,000.00 |
5,000.00 |
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Net Profit / [Loss] |
[5,000.00] |
[5,000.00] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2010 |
2009 |
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LIQUIDITY RATIO |
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CURRENT RATIO |
TIMES |
10.95 |
11.20 |
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QUICK RATIO |
TIMES |
10.95 |
11.20 |
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ACTIVITY RATIO |
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FIXED ASSETS TURNOVER |
TIMES |
- |
- |
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TOTAL ASSETS TURNOVER |
TIMES |
- |
- |
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INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
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INVENTORY TURNOVER |
TIMES |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
- |
|
RECEIVABLES TURNOVER |
TIMES |
- |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
- |
|
CASH CONVERSION CYCLE |
DAYS |
- |
- |
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PROFITABILITY
RATIO |
|
|
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COST OF GOODS SOLD |
% |
- |
- |
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SELLING & ADMINISTRATION |
% |
- |
- |
|
INTEREST |
% |
- |
- |
|
GROSS PROFIT MARGIN |
% |
- |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
- |
|
NET PROFIT MARGIN |
% |
- |
- |
|
RETURN ON EQUITY |
% |
(2.51) |
(2.45) |
|
RETURN ON ASSET |
% |
(2.28) |
(2.23) |
|
EARNING PER SHARE |
BAHT |
(2.00) |
(2.00) |
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LEVERAGE RATIO |
|
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DEBT RATIO |
TIMES |
0.09 |
0.09 |
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DEBT TO EQUITY RATIO |
TIMES |
0.10 |
0.10 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
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ANNUAL GROWTH |
|
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SALES GROWTH |
% |
- |
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OPERATING PROFIT |
% |
- |
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|
NET PROFIT |
% |
- |
|
|
FIXED ASSETS |
% |
- |
|
|
TOTAL ASSETS |
% |
(2.23) |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial
Average |
11.76 |
|
Net Profit Margin |
- |
|
Industrial
Average |
1.93 |
|
Return on Assets |
(2.28) |
Deteriorated |
Industrial
Average |
4.69 |
|
Return on Equity |
(2.51) |
Deteriorated |
Industrial
Average |
13.38 |
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 -2.28%.
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 -2.51%.
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 |
10.95 |
Impressive |
Industrial
Average |
1.47 |
|
Quick Ratio |
10.95 |
|
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|
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 10.95 times in 2010, decrease from 11.2 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 10.95 times in 2010,
decrease from 11.2 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 |
0.09 |
Impressive |
Industrial
Average |
0.61 |
|
Debt to Equity Ratio |
0.10 |
Impressive |
Industrial
Average |
1.70 |
|
Times Interest Earned |
- |
|
Industrial Average |
3.51 |
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 0.09 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 |
- |
|
Industrial Average |
10.60 |
|
Total Assets Turnover |
- |
|
Industrial Average |
2.43 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
7.33 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
4.40 |
|
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 Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.58 |
|
UK Pound |
1 |
Rs.87.14 |
|
Euro |
1 |
Rs.69.73 |
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.