MIRA
INFORM REPORT
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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
SIRIAREE
[2003] INTERTRED LIMITED
PARTNERSHIP |
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Registered Office : |
771/1
Moo 1, T. Thasailuad, A. Mae
Sod, Tak 63110 |
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Country : |
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Financials (as on) : |
31.01.2011 |
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Date of Incorporation : |
01.02.2010 |
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Com. Reg. No.: |
0633553000087 |
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Legal Form : |
Limited
partnership |
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Line of Business : |
International trading
company of agricultural
products |
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No. of Employees : |
05 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
With a well-developed infrastructure, a free-enterprise
economy, generally pro-investment policies, and strong export industries,
|
Source : CIA |
Company name
SIRIAREE [2003] INTERTRED
LIMITED PARTNERSHIP
SUMMARY
BUSINESS
ADDRESS : 771/1
MOO 1, T. THASAILUAD, A. MAE
SOD,
TAK 63110,
THAILAND
TELEPHONE : [66] 083
176-7755, 086 448-8248
FAX : [66] 55
564-060
E-MAIL
ADDRESS : siriaree@gmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2010
REGISTRATION
NO. : 0633553000087
TAX
ID NO. : 3033785357
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
PARTNER’S
PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : JANUARY 31
LEGAL
STATUS : LIMITED
PARTNERSHIP
EXECUTIVE : MR. WONGWARICH SUPHAPATTAWEEPONG, THAI
MANAGING PARTNER
NO.
OF STAFF : 5
LINES
OF BUSINESS : AGRICULTURAL PRODUCTS
INTERNATIONAL TRADING
COMPANY
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on February 1,
2010 as a
limited partnership under the
name style SIRIAREE [2003] INTERTRED LIMITED PARTNERSHIP
by Mr. Wongwarich Suphapattaweepong, a Thai
who is the Managing
Partner. Its objective
is to be engaged
in international trading
for agricultural products.
It currently employs
5 staff.
The
subject’s registered address
is 771/1 Moo
1, T. Thasailuad, A. Mae
Sod, Tak 63110,
and this is
the subject’s current
operation address.
AUTHORIZED PERSON
Mr. Wongwarich
Suphapattaweepong signs on behalf of
the subject with
seal affixed. He also
bears full financial
responsibility by law.
MANAGEMENT
Mr. Wongwarich Suphapattaweepong is
the Managing Partner.
He is Thai
nationality with the
age of 41
years old.
BUSINESS OPERATIONS
The subject is engaged
in importing, distributing
and exporting various
kinds of agriculture
products, including bean,
onion, garlic, tamarind, groundnut,
ginger, green mung bean,
black eye bean,
dried chili, raw cashew nut
and etc.
PURCHASE
The
products are purchased
from suppliers both
domestic and overseas,
mainly in Republic
of China, India
and Myanmar.
SALES
Its
products are sold
by wholesale to
customer both locally
and overseas, mainly
in Republic of
China.
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 credit term
of 30 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
Exports are against
T/T.
BANKING
The
banker’s name was
not disclosed.
EMPLOYMENT
The
subject employs 5
staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is located in
provincial.
COMMENT
Subject
operates as an
importer and distributor of agricultural
products. Its business
in the first year
operation was moderate.
Demand of the products
remains strong, resulting
to a strong
business on a
yearly basis.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 which
was carried by 2
persons as followed:
Name Age Amount
Mr. Wongwarich Suphapattaweepong [41] Bht. 700,000 [Unlimited Partner]
Ms. Thanchanok Chawnua [36] Bht.
300,000
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
None
BALANCE SHEET [BAHT]
The 2012 financial
statement has not
yet been submitted.
The
latest financial figures
published for January
31, 2011 was:
ASSETS
|
Current Assets |
Feb. 1,
2010 – Jan. 31,
2011 |
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Cash and Cash Equivalents |
1,406,339.93 |
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Total Current Assets
|
1,406,339.93 |
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Fixed Assets |
6,938.22 |
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Total Assets |
1,413,278.15 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
Feb. 1,
2010 – Jan. 31,
2011 |
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|
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Accrued Income Tax |
43,793.21 |
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Other Current Liabilities |
24,400.00 |
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Total Current Liabilities |
68,193.21 |
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Total Liabilities |
68,193.21 |
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Shareholders' Equity |
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Share capital : Baht 100
value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
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Capital Paid |
1,000,000.00 |
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Retained Earning - Unappropriated |
345,084.94 |
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Total Shareholders' Equity |
1,345,084.94 |
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Total Liabilities & Shareholders' Equity |
1,413,278.15 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
Feb. 1,
2010 – Jan. 31,
2011 |
|
|
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Sales & Services |
7,844,650.00 |
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Total Revenues |
7,844,650.00 |
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Expenses |
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Cost of Goods
Sold & Services |
7,437,360.63 |
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Administrative Expenses |
18,411.22 |
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Total Expenses |
7,455,771.85 |
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Profit / Loss] before Financial Costs & Income Tax |
388,878.15 |
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Financial Costs |
- |
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Profit / [Loss] before Income Tax |
388,878.15 |
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Income Tax |
[43,793.21] |
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Net Profit / [Loss] |
345,084.94 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
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LIQUIDITY RATIO |
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CURRENT RATIO |
TIMES |
20.62 |
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QUICK RATIO |
TIMES |
20.62 |
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ACTIVITY RATIO |
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FIXED ASSETS TURNOVER |
TIMES |
1,130.64 |
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TOTAL ASSETS TURNOVER |
TIMES |
5.55 |
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INVENTORY CONVERSION PERIOD |
DAYS |
- |
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INVENTORY TURNOVER |
TIMES |
- |
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RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
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RECEIVABLES TURNOVER |
TIMES |
- |
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PAYABLES CONVERSION PERIOD |
DAYS |
- |
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CASH CONVERSION CYCLE |
DAYS |
- |
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PROFITABILITY
RATIO |
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COST OF GOODS SOLD |
% |
94.81 |
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SELLING & ADMINISTRATION |
% |
0.23 |
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INTEREST |
% |
- |
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GROSS PROFIT MARGIN |
% |
5.19 |
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NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.96 |
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NET PROFIT MARGIN |
% |
4.40 |
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RETURN ON EQUITY |
% |
25.66 |
|
RETURN ON ASSET |
% |
24.42 |
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EARNING PER SHARE |
BAHT |
34.51 |
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LEVERAGE RATIO |
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DEBT RATIO |
TIMES |
0.05 |
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DEBT TO EQUITY RATIO |
TIMES |
0.05 |
|
TIME INTEREST EARNED |
TIMES |
- |
PROFITABILITY
RATIO
|
Gross Profit Margin |
5.19 |
Deteriorated |
Industrial
Average |
11.02 |
|
Net Profit Margin |
4.40 |
Impressive |
Industrial
Average |
1.05 |
|
Return on Assets |
24.42 |
Impressive |
Industrial
Average |
2.11 |
|
Return on Equity |
25.66 |
Impressive |
Industrial
Average |
5.65 |
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 5.19%. 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 4.4%, higher figure when 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
24.42%, 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 25.66%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY RATIO
|
Current Ratio |
20.62 |
Impressive |
Industrial Average |
1.58 |
|
Quick Ratio |
20.62 |
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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 20.62 times in 2011, increased from 0 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 20.62 times in 2011,
increased from 0 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 |
0.05 |
Impressive |
Industrial
Average |
0.60 |
|
Debt to Equity Ratio |
0.05 |
Impressive |
Industrial
Average |
1.62 |
|
Times Interest Earned |
- |
|
Industrial
Average |
1.70 |
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 0.05 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 |
1,130.64 |
Impressive |
Industrial
Average |
6.74 |
|
Total Assets Turnover |
5.55 |
Impressive |
Industrial
Average |
1.99 |
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Inventory Conversion Period |
- |
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|
Inventory Turnover |
- |
|
Industrial
Average |
5.00 |
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Receivables Conversion Period |
- |
|
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|
Receivables Turnover |
- |
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Industrial
Average |
4.64 |
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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.54.97 |
|
UK Pound |
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.70.16 |
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 |
|
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NB |
New Business |
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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.