MIRA
INFORM REPORT
|
Report Date : |
22.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
ALPINE
TRADING & DEVELOPMENT
CO., LTD. |
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Registered Office : |
Room 1705, 17th Floor, B.B. Building, Sukhumvit 21 [Askoe] Road, Klongtoeynua, Wattana, Bangkok 10110 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
14.01.2005 |
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Com. Reg. No.: |
0105548006931 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Commission agent of steels and agriculture products |
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No. of Employees : |
06 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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, Thailand enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly machinery and electronic components, agricultural commodities, and jewelry - continue to drive the economy, accounting for more than half of GDP. The global financial crisis of 2008-09 severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. In 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded from their depressed 2009 level. Steady economic growth at just below 4% during the first three quarters of 2011 was interrupted by historic flooding in October and November in the industrial areas north of Bangkok, crippling the manufacturing sector and leading to a revised growth rate of only 0.1% for the year. The industrial sector is poised to recover from the second quarter of 2012 onward, however, and the government anticipates the economy will probably grow between 5.5 and 6.5% for 2012, while private sector forecasts range between 3.8% and 5.7%.
|
Source : CIA |
Company name
ALPINE TRADING & DEVELOPMENT CO., LTD.
SUMMARY
BUSINESS
ADDRESS : ROOM
1705, 17th FLOOR,
B.B. BUILDING,
54
SUKHUMVIT 21
[ASKOE] ROAD, KLONGTOEYNUA,
WATTANA,
BANGKOK 10110, THAILAND
TELEPHONE : [66] 2260-7062-5
FAX :
[66] 2260-7066
E-MAIL
ADDRESS : vaitbkk@loxinfo.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2005
REGISTRATION
NO. : 0105548006931
TAX
ID NO. : 3031661493
CAPITAL REGISTERED : BHT. 2,000,000
CAPITAL PAID-UP : BHT.
2,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
AUSTRIAN :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HUBERT SCHLEMMER,
AUSTRIAN
MANAGING DIRECTOR
NO.
OF STAFF : 6
LINES
OF BUSINESS : STEELS AND
AGRICULTURE PRODUCTS
COMMISSION AGENT
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 initially
set up in
Thailand over 10
years ago, as
a Thailand representative office under
the originally name “Voest-Alpine Intertrading
GmbH”, whose headquarter
was registered in
Austria.
On
January 14, 2005,
the subject was
established in Thailand
as a private
limited company under
the registered name
ALPINE TRADING &
DEVELOPMENT CO., LTD.
by Thai and
Austrian groups, with
the business objective
to provide commission
service to steels
and agricultural products
exporters in overseas.
It currently employs
6 staff.
The
subject is a
member of VA
Intertrading Corporation [Former
: Voest-Alpine Intertrading GmbH.],
an international trading
business and Austrian’s leading
trading company, as well
as providing transports,
logistics, counter trade
and trade finance.
Its headquarter is
located at Strasserau
6, 4020 Linz,
Austria.
The
subject’s registered address
is Room 1705, 17th Floor,
B.B. Building, 54
Sukhumvit 21 [Asoke] Rd.,
Klongtoeynua, Wattana, Bangkok
10110, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTOR
Mr. Hubert Schlemmer
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Hubert Schlemmer is
the Managing Director.
He is Austrian nationality with the age of 51 years old.
BUSINESS OPERATIONS
The subject
is engaged in
commission agent business
to provide various
kinds of local
steels and agricultural
products to oversea
customers, mainly European
countries, such as
Austria, Germany, Russia
and Belgium.
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
Services are by
T/T.
Local bills are
by cash or
on the credits
term of 30-60
days.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
6 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in a prime commercial
area.
COMMENT
Subject
was established in 2005. Since
establishment in Thailand,
its business has
grown slowly. There
is slow commercial
business activity taken
place at the
moment.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000 divided
into 20,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Anong Vorakarnpinij Nationality: Thai Address : 38
Prachasongkroh Rd., Dindaeng,
Bangkok |
10,000 |
50.00 |
|
Mr. Hubert Schlemmer Nationality: Austrian Address : Room
1705, 17th Floor,
B.B. Building, 54 Sukhumvit
21 [Asoke] Rd., Klongtoeynua, Wattana,
Bangkok |
9,800 |
49.00 |
|
Ms. Virongrorng Saithanya Nationality: Thai Address : 68/32
Moo 5, Soi
Nawamin 40,
Nawamin Rd., Klongkum,
Buengkum, Bangkok |
200 |
1.00 |
Total Shareholders : 3
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
2 |
10,200 |
51.00 |
|
Foreign - Austrian |
1 |
9,800 |
49.00 |
|
Total |
3 |
20,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Peera Prakobphol No.
4311
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 [Adjusted] |
|
|
|
|
|
Cash and Cash Equivalents |
195,125.57 |
1,274,601.03 |
|
Short-term Investment |
1,590,000.00 |
960,000.00 |
|
Trade Accounts & Other Receivable |
1,402.44 |
971.20 |
|
|
|
|
|
Total Current Assets
|
1,786,528.01 |
2,235,572.23 |
|
|
|
|
|
Fixed Assets |
82,369.68 |
112,298.08 |
|
Other Non-current Assets |
242,677.44 |
235,875.77 |
|
Total Assets |
2,111,575.13 |
2,583,746.08 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 [Adjusted] |
|
|
|
|
|
Trade Accounts & Other Payable |
46,342.19 |
49,576.38 |
|
Other Current Liabilities |
9,208.45 |
27,675.38 |
|
|
|
|
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Total Current Liabilities |
55,550.64 |
77,251.76 |
|
Total Liabilities |
55,550.64 |
77,251.76 |
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|
|
|
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Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 20,000 shares |
2,000,000.00 |
2,000,000.00 |
|
|
|
|
|
Capital Paid |
2,000,000.00 |
2,000,000.00 |
|
Unrealized Gain/[Loss] |
156,120.50 |
177,913.50 |
|
Retained Earning - Unappropriated |
[100,096.01] |
328,580.82 |
|
Total Shareholders' Equity |
2,056,024.49 |
2,506,494.32 |
|
Total Liabilities & Shareholders' Equity |
2,111,575.13 |
2,583,746.08 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales & Services
|
3,042,314.84 |
3,466,161.30 |
|
Other Income |
73,213.07 |
168,984.76 |
|
Total Revenues |
3,115,527.91 |
3,635,146.06 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Services
|
1,345,234.00 |
1,365,660.00 |
|
Administrative Expenses |
2,198,970.74 |
2,225,199.16 |
|
Total Expenses |
3,544,204.74 |
3,590,859.16 |
|
|
|
|
|
Profit before Income Tax |
[428,676.83] |
44,286.90 |
|
Income Tax |
- |
- |
|
Net Profit/[Loss] |
[428,676.83] |
44,286.90 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
32.16 |
28.94 |
|
QUICK RATIO |
TIMES |
32.16 |
28.94 |
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|
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ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
36.93 |
30.87 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.44 |
1.34 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
0.17 |
0.10 |
|
RECEIVABLES TURNOVER |
TIMES |
2,169.30 |
3,568.95 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
12.57 |
13.25 |
|
CASH CONVERSION CYCLE |
DAYS |
(12.41) |
(13.15) |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
44.22 |
39.40 |
|
SELLING & ADMINISTRATION |
% |
72.28 |
64.20 |
|
INTEREST |
% |
- |
- |
|
GROSS PROFIT MARGIN |
% |
58.19 |
65.48 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(14.09) |
1.28 |
|
NET PROFIT MARGIN |
% |
(14.09) |
1.28 |
|
RETURN ON EQUITY |
% |
(20.85) |
1.77 |
|
RETURN ON ASSET |
% |
(20.30) |
1.71 |
|
EARNING PER SHARE |
BAHT |
(21.43) |
2.21 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.03 |
0.03 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.03 |
0.03 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
(12.23) |
|
|
OPERATING PROFIT |
% |
(1,067.95) |
|
|
NET PROFIT |
% |
(1,067.95) |
|
|
FIXED ASSETS |
% |
(26.65) |
|
|
TOTAL ASSETS |
% |
(18.27) |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
58.19 |
Impressive |
Industrial Average |
14.90 |
|
Net Profit Margin |
(14.09) |
Deteriorated |
Industrial Average |
2.89 |
|
Return on Assets |
(20.30) |
Deteriorated |
Industrial Average |
4.32 |
|
Return on Equity |
(20.85) |
Deteriorated |
Industrial Average |
8.55 |
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. Gross Profit Margin is 58.19%. 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 -14.09%.
When compared with the industry average, the ratio of the company was lower.
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 -20.3%.
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 -20.85%.
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 |
32.16 |
Impressive |
Industrial Average |
1.89 |
|
Quick Ratio |
32.16 |
|
|
|
|
Cash Conversion Cycle |
(12.41) |
|
|
|
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 32.16 times in 2011, increase from 28.94 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 32.16 times in 2011,
increase from 28.94 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 -13 days.
Trend of the average
competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.03 |
Impressive |
Industrial Average |
0.45 |
|
Debt to Equity Ratio |
0.03 |
Impressive |
Industrial Average |
0.87 |
|
Times Interest Earned |
- |
|
Industrial Average |
4.04 |
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 0.03 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 Stable
Times Interest Earned Uptrend
ACTIVITY RATIO
|
Fixed Assets Turnover |
36.93 |
Impressive |
Industrial Average |
3.57 |
|
Total Assets Turnover |
1.44 |
Satisfactory |
Industrial Average |
1.49 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
5.28 |
|
Receivables Conversion Period |
0.17 |
|
|
|
|
Receivables Turnover |
2,169.30 |
Impressive |
Industrial Average |
3.49 |
|
Payables Conversion Period |
12.57 |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
UK Pound |
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.70.43 |
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.