MIRA
INFORM REPORT
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Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
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Name : |
LNP
GROUP GLOBAL [ |
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Registered Office : |
1529/232 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
11.09.2009 |
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Com. Reg. No.: |
0105552098080 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Exporter of construction
equipments and auto
parts |
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No. of Employees : |
02 employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 |
|
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,
|
Source : CIA |
Company name
LNP GROUP GLOBAL
[
SUMMARY
BUSINESS
ADDRESS :
BANGLAMPULANG, KLONGSAN,
TELEPHONE : [66] 081
862-1051, 081 923-6464
FAX :
-
E-MAIL
ADDRESS : tawatchai8@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2009
REGISTRATION
NO. : 0105552098080
TAX
ID NO. : 3033611540
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT. 250,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MS. CHOTIKA TECHASOPONVANICH, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : CONSTRUCTION EQUIPMENTS
AND AUTO PARTS
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 September 11,
2009 as a
private limited company under
the registered name
LPN GROUP GLOBAL
[THAILAND] CO., LTD.,
by Thai groups, with
the business objective
to export of
construction equipments, automotive
equipment and spare
parts in overseas markets.
In
2011, the subject
had temporarily stopped
its business activity.
However, the subject resumed
its business in the middle of
2012. It currently
employs 2 staff.
The subject’s registered address is
1529/232 Charoen Nakorn Rd.,
Banglampulang, Klongsan, Bangkok
10600, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
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|
|
|
|
|
Ms. Chotika Techasoponvanich |
|
Thai |
29 |
|
Ms. Nutcha Techasoponvanich |
|
Thai |
25 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Ms. Chotika Techasoponvanich is
the Managing Director.
She is Thai
nationality with the
age of 29
years old.
Mr. Tawatchai Pongchaikraikiti is
the Assistant Managing
Director.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
exporting various kinds
of construction equipments,
automobile equipments and
spare parts, according
to customer’s requirement.
PURCHASE
100%
of the products
is purchased from
local suppliers.
EXPORT
100% of the
products is exported
to India and
Pakistan.
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
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Exports are against
T/T.
BANKING
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject currently employs
2 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
COMMENT
The
subject operates as an
exporter of construction, automobile
equipments and parts
to India and
Pakistan. It reported
zero sales income
in the year 2011
due to its activity had
been temporarily stopped. However,
since it resumed
operation in the
middle of 2012,
its sales performance has not
been disclosed.
Its
business remains at
risk.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000 shares
of Bht. 100
each with 25%
paid-up or Bht.
250,000.
THE
SHAREHOLDERS LISTED WERE : [as
at August 20,
2012] at Bht. 250,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
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Ms. Chotika Techasoponvanich Nationality: Thai Address : 33/2 Moo
4, T. Pakumkoh, A. Sawankaloke, Sukhothai |
2,500 |
25.00 |
|
Ms. Nutcha Techasoponvanich Nationality: Thai Address : 15/101
Soi Suayai-uthis, Chankasem,
Jatujak, |
2,500 |
25.00 |
|
Ms. Virawan Butrath Nationality: Thai Address : 21
Moo 5, T.
Klonghae, A. Hadyai, Songkhla |
2,500 |
25.00 |
|
Mrs. Thanawan Saosingh Nationality: Thai Address : 111/249
Moo 5, Soi Anamaingamcharoen 11,
Thakam, Bangkhunthien, |
2,500 |
25.00 |
Total Shareholders : 4
Share Structure [as
at August 20,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
10,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
10,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Pornnapa Premyothin No.
8739
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
27,108.90 |
82,842.18 |
|
Trade Accounts Receivable
|
- |
579,999.92 |
|
Other Current Assets
|
108,922.28 |
65,375.95 |
|
|
|
|
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Total Current Assets
|
136,031.18 |
728,218.05 |
|
|
|
|
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Fixed Assets |
438,830.44 |
538,694.28 |
|
Total Assets |
574,861.62 |
1,266,912.33 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Accrued Expenses |
11,295.94 |
20,904.74 |
|
Current Portion of Financial
Lease Contract Liabilities |
110,928.00 |
110,928.00 |
|
|
|
|
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Total Current Liabilities |
122,223.94 |
131,832.74 |
|
Financial Lease Contract
Liabilities, Net |
194,123.24 |
305,051.00 |
|
Long-term Loan from
Related Person |
446,292.00 |
647,000.00 |
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Total Liabilities |
762,639.18 |
1,083,883.74 |
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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 |
1,000,000.00 |
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|
|
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Capital Paid |
250,000.00 |
250,000.00 |
|
Retained Earning - Unappropriated |
[437,777.56] |
[66,971.41] |
|
Total Shareholders' Equity |
[187,777.56] |
183,028.59 |
|
Total Liabilities & Shareholders' Equity |
574,861.62 |
1,266,912.33 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
|
Sales Income |
- |
9,737,385.25 |
|
Services Income |
- |
677,570.00 |
|
Other Income |
158.35 |
24,546.75 |
|
Total Revenues |
158.35 |
10,439,502.00 |
|
Expenses |
|
|
|
Cost of Goods
Sold |
- |
9,429,047.74 |
|
Cost of Services |
- |
578,448.67 |
|
Services and Administrative Expenses |
354,140.26 |
312,606.52 |
|
Total Expenses |
354,140.26 |
10,320,102.93 |
|
|
|
|
|
Profit / Loss] before Financial Costs |
[353,981.91] |
119,399.07 |
|
Financial Costs |
[16,824.24] |
[4,206.06] |
|
Net Profit / [Loss] |
[370,806.15] |
115,193.01 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
1.11 |
5.52 |
|
QUICK RATIO |
TIMES |
0.22 |
5.03 |
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ACTIVITY RATIO |
|
|
|
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FIXED ASSETS TURNOVER |
TIMES |
- |
19.33 |
|
TOTAL ASSETS TURNOVER |
TIMES |
- |
8.22 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
20.33 |
|
RECEIVABLES TURNOVER |
TIMES |
- |
17.96 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
- |
|
CASH CONVERSION CYCLE |
DAYS |
- |
20.33 |
|
|
|
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PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
- |
96.09 |
|
SELLING & ADMINISTRATION |
% |
- |
3.00 |
|
INTEREST |
% |
- |
0.04 |
|
GROSS PROFIT MARGIN |
% |
- |
4.15 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
1.15 |
|
NET PROFIT MARGIN |
% |
- |
1.11 |
|
RETURN ON EQUITY |
% |
- |
62.94 |
|
RETURN ON ASSET |
% |
(64.50) |
9.09 |
|
EARNING PER SHARE |
BAHT |
(148.32) |
46.08 |
|
|
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LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
1.33 |
0.86 |
|
DEBT TO EQUITY RATIO |
TIMES |
(4.06) |
5.92 |
|
TIME INTEREST EARNED |
TIMES |
(21.04) |
28.39 |
|
|
|
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|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
(100.00) |
|
|
OPERATING PROFIT |
% |
(396.47) |
|
|
NET PROFIT |
% |
(421.90) |
|
|
FIXED ASSETS |
% |
(18.54) |
|
|
TOTAL ASSETS |
% |
(54.62) |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial
Average |
10.86 |
|
Net Profit Margin |
- |
|
Industrial
Average |
1.60 |
|
Return on Assets |
(64.50) |
Deteriorated |
Industrial
Average |
3.60 |
|
Return on Equity |
- |
|
Industrial
Average |
9.29 |
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 -64.5%.
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 |
1.11 |
Acceptable |
Industrial
Average |
1.66 |
|
Quick Ratio |
0.22 |
|
|
|
|
Cash Conversion Cycle |
- |
|
|
|
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 1.11 times in 2011, decreased from 5.52 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 lower.
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 0.22 times in 2011,
decreased from 5.03 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
1.33 |
Risky |
Industrial
Average |
0.60 |
|
Debt to Equity Ratio |
(4.06) |
Risky |
Industrial
Average |
1.52 |
|
Times Interest Earned |
(21.04) |
Risky |
Industrial
Average |
4.17 |
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 higher the percentage means that the company is
using less equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is -21.04 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
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 |
11.75 |
|
Total Assets Turnover |
- |
|
Industrial Average |
2.26 |
|
Inventory Conversion Period |
- |
|
|
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|
Inventory Turnover |
- |
|
Industrial Average |
4.95 |
|
Receivables Conversion Period |
- |
|
|
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|
Receivables Turnover |
- |
|
Industrial Average |
4.75 |
|
Payables Conversion Period |
- |
|
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|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
|
|
1 |
Rs.89.34 |
|
Euro |
1 |
Rs.72.35 |
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.