MIRA
INFORM REPORT
|
Report Date : |
01.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
AGC CHEMICALS
[ |
|
|
|
|
Formerly Known As : |
THASCO
CHEMICAL CO., LTD |
|
|
|
|
Registered Office : |
24th Floor,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1964
|
|
|
|
|
Com. Reg. No.: |
0105507001757 [Former :
231/2507] |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor
& Exporter Of
Industrial Chemicals |
|
|
|
|
No. of Employees : |
900 |
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 : |
Good |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
THAILAND - ECONOMIC OVERVIEW
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
AGC
CHEMICALS [THAILAND] CO.,
LTD.
[FORMER
: THASCO CHEMICAL
CO., LTD.]
SUMMARY
BUSINESS
ADDRESS : 24th FLOOR,
BANGKOK INSURANCE BUILDING,
25 SOUTH
SATHORN ROAD, THUNGMAHAMEK,
SATHORN, BANGKOK
10120, THAILAND
TELEPHONE : [66] 2679-1600
FAX :
[66] 2677-3177
E-MAIL
ADDRESS : info@acth.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1964
REGISTRATION
NO. : 0105507001757 [Former : 231/2507]
TAX
ID NO. : 3101018127
CAPITAL REGISTERED : BHT. 1,400,000,000
CAPITAL PAID-UP : BHT.
1,400,000,000
SHAREHOLDER’S PROPORTION : JAPANESE : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
KATSUYA KINOSHITA, JAPANESE
PRESIDENT
NO.
OF STAFF : 900
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject was
established on July
15, 1964 as
a private limited
company under the registered name “Thai Tomiden
Caustic Soda Co., Ltd.” It is
a joint venture
between Thai business
group and Asahi
Glass Company Limited
in Japan. On
October 22, 1965
its name was changed to “Thai Asahi
Caustic Soda Co., Ltd.”
and was
changed to “Thasco Chemical
Co., Ltd.” on September
19, 1988.
In 2005, subject
became a wholly
owned subsidiary of
Asahi Glass Co.,
Ltd. of Japan,
and its name was
changed to AGC CHEMICALS
[THAILAND] CO., LTD., on
April 19, 2007. It produces
various kinds of
base chemicals using
advanced technology transferred
from Asahi Glass Co., Ltd. It
currently employs approximate
900 staff.
In 1994 the
subject was granted
promotional privileges from
Board of
Investment for its
chemicals plant at
the Eastern Industrial
Estate, Map Ta
Phut, Rayong Province.
The subject achieved
the international standard
ISO 9002 certificate
by BVQI, U.K.
in 1999 and
ISO 14001 certificate
in 2000.
The subject’s registered
address is 24th Floor,
Bangkok Insurance Building,
25 South Sathorn
Rd., Thungmahamek, Sathorn,
Bangkok 10120, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Bhakbhumi Chiraratn |
|
Thai |
60 |
|
Mr. Masao Nemoto |
|
Japanese |
53 |
|
Mr. Koji Akimoto |
[x] |
Japanese |
54 |
|
Mr. Norio Nozokido |
|
Japanese |
42 |
|
Mr. Hiroshi Akagi |
|
Japanese |
57 |
|
Mr. Katsuya Kinoshita |
[x] |
Japanese |
53 |
|
Mr. Takeshi Harigaya |
|
Japanese |
54 |
|
Mr. Nakinori Eto |
|
Japanese |
43 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the subject with
company’s affixed.
MANAGEMENT
Mr. Katsuya Kinoshita is the
President.
He is Japanese
nationality with the
age of 53
years old.
Mr. Koji Akimoto is
the Vice President
[Operation, Rayong].
He is Japanese
nationality with the
age of 54 years old.
Mr. Tokichi Kureshima is
the Vice President
[Operation, Samutprakarn].
He is Japanese
nationality with the
age of 55
years old.
Mr. Bhakbhumi Chiraratn is
the Executive Director.
He is Thai nationality with
the age of 60 years
old.
Mr. Siriphan Chunchuangchot Financial
Manager.
He is Thai
nationality.
Mr. Takeshi Harigaya is
the Factory Manager.
He is Japanese
nationality with the
age of 54
years old.
Mr. Wanlarp Saiparn is
the QC & QA Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity
is manufacturer various
kinds of industrial
base chemicals, such
as sodium hydroxide, potassium
hydroxide, potassium carbonate,
liquid sodium hydroxide,
hydrochloric acid, sodium
hypochlorite, sodium hydroxide
flaks, chlorine, refrigerant, solvent, polypropylene
glycol, polytetrafluoroethylene, ethylene
tetra fluoroethylene and etc. Its
products are supplied
to pulp & paper, consumer
goods, fabric, rubber,
petroleum, glass industries
and etc.
MAJOR BRANDS
“SUPERCHLOR”, “NU-CHLOR”, “HI-CHLOR”
TRANSPORTATION
The subject built
its own jetty to
transport products by river.
Also for safety
and convenience, products
are delivered by pipeline to some
of the subject’s
customers located at
the Map Ta
Phut Industrial Estate.
PURCHASE
Most of raw materials
including electricity, pure
salt, natural gas
and etc. are purchased
from local suppliers,
and the rest
is imported from
United States of America,
India, Japan, Taiwan,
Republic of China
and Europe.
MAJOR SUPPLIERS
|
Name |
Country |
|
|
|
|
Asahi Glass Co., Ltd. |
: Japan |
|
Mitsui & Co |
: Japan |
|
Thai-MC Co., Ltd.
|
: Thailand |
SALES [LOCAL]
20% of its
products is sold
locally to wholesalers,
manufacturers and Thai
Government.
EXPORT [COUNTRY]
80% of its
products is exported
to Singapore, Vietnam,
Japan, South Africa,
Australia, Hong Kong,
U.S.A., Taiwan, Canada,
Middle East and
European countries.
MAJOR CUSTOMERS
|
Name |
Country |
|
Thep Enterprise Co.,
Ltd. |
: Thailand |
|
Chemical Enterprise Co., Ltd. |
: Thailand |
|
S.T. Chemical Business
Co., Ltd. |
: Thailand |
|
Premium Chemical Marketing
Co., Ltd. |
: Thailand |
SUBSIDIARY COMPANY
Surisa Co., Ltd.
Business Type :
Distributor of salt
products.
RELATED & AFFILIATED COMPANIES
|
Name |
Country |
Business Type |
|
Thai-Asahi Glass Public Co., Ltd.
|
Thailand |
Manufacturer of glass |
|
Thai Asahi Caustic Soda Co.,
Ltd. |
Thailand |
Manufacturer of caustic
soda |
|
Thai Safety Glass Co.,
Ltd. |
Thailand |
Manufacturer of special
glass |
|
Chemicals Marketing Co., Ltd.
|
Thailand |
Manufacturer of chemical
products |
|
Pimai Salt Co., Ltd. |
Thailand |
Manufacturer of chemical
|
|
Thai Plastic and Chemicals
Public Co., Ltd. |
Thailand |
Manufacturer of PVC
resin |
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
according 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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bank of Tokyo - Mitsubishi UFJ
Ltd.
[Bangkok Office : 54
North Sathorn Rd., Silom,
Bangrak, Bangkok 10500]
Sumitomo-Mitsui Banking Corporation
[Bangkok Office : 138
Silom Rd., Silom,
Bangrak, Bangkok 10500]
Bangkok Bank Public Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
EMPLOYMENT
The subject employs
approximately 900 staff
[office staff and
factory workers].
LOCATION DETAILS
The premise is
rented for administrative
office at the
heading address. Premise
is located in
a prime commercial area.
The factories and
warehouses are located
at :
· 202 Moo 1, KM.
17, Suksawad Rd.,
T. Pakklongbangplakod, A. Prasamutjaedee, Samutprakarn
10290 on 64,000
square meters of area.
Tel:
[66] 2463-6345-8, Fax: [66] 2463-3728.
· 4 Soi G
12, Eastern Industrial
Estate, T. Map Ta Phut,
A. Muang, Rayong 21150,
on 28,800 square meters
of area, Tel: [66]
38 683-573, Fax: [66]
38 683-576.
COMMENT
AGC Chemicals
[Thailand] Co., Ltd. produces
premium quality chemical
products to serve
the growing demand
for both domestic and international
markets. It always
invests in modern
technology which negates
environmental impact while
ensuring high quality
products.
The company is Thailand’s
leading producer and distributor
of sodium hydroxide
in solution, pearl,
and flake forms
and the only
producer of Micropearls
in Southeast Asia
as well as
the first company
who produces Potassium
hydroxide and Potassium
Carbonate in the
kingdom.
Subject’s business had
outstanding grown in
line with strong demand from
industrial sector in
2011.
FINANCIAL INFORMATION
The capital was
registered at Bht. 21,000,000 divided
into 42,000 shares
of Bht. 500 each.
The capital was
increased later as
followings :
Bht. 50,000,000 on
August 25, 1981
Bht. 70,000,000 on
January 5, 1982
Bht. 100,000,000 on
December 21, 1987
Bht. 300,000,000 on
May 17, 1990
Bht. 480,000,000 on
May 14, 1997
Bht. 600,000,000
on March 23,
1998
Bht. 2,800,000,000
on February 12,
2002
On August 22, 2005,
the capital was
decreased to Bht. 1,400,000,000
divided into 14,000,000
shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 19,
2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Asahi Glass Co., Ltd.
Nationality: Japanese Address : 1-5-1 Marunouchi,
Chiyoda, Tokyo, Japan |
13,999,998 |
100.00 |
|
Mr. Katsuya Kinoshita Nationality: Japanese Address : 25 South
Sathorn Rd., Thungmahamek,
Sathorn, Bangkok |
1 |
- |
|
Mr. Norio Nosokido Nationality: Japanese Address : 25 South
Sathorn Rd., Thungmahamek, Sathorn, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 19,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Japanese |
3 |
14,000,000 |
100.00 |
|
Total |
3 |
14,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Ekasit Chuthamsathit No.
4195
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
1,125,847,499 |
1,668,592,811 |
|
Trade Accounts Receivable |
1,004,898,402 |
1,117,613,434 |
|
Inventories |
450,383,026 |
451,039,352 |
|
Other Current Assets
|
20,375,504 |
21,097,687 |
|
Total Current
Assets |
2,601,504,431 |
3,258,343,284 |
|
Investment in Subsidiaries &
Associated Company |
490,100 |
490,100 |
|
Other Long-term Investment |
1,845,932 |
1,845,932 |
|
Long-term Lending to Related Company |
415,618,604 |
415,618,604 |
|
Fixed Assets |
2,705,409,475 |
2,677,314,016 |
|
Intangible Assets |
2,806,292 |
2,326,327 |
|
Other Non-current Assets |
20,450,325 |
16,191,916 |
|
Total Assets
|
5,748,125,159 |
6,372,130,179 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
|
|
|
|
|
Trade Accounts Payable |
322,193,902 |
384,982,794 |
|
Other Payable |
100,285,322 |
87,281,300 |
|
Other Current Liabilities |
24,137,451 |
20,891,843 |
|
Total Current
Liabilities |
446,616,675 |
493,155,937 |
|
|
|
|
|
Estimated for Employees’
Benefit |
226,047,339 |
211,114,112 |
|
Total Liabilities |
672,664,014 |
704,270,049 |
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
value Authorized &
issued share capital 14,000,000
shares |
1,400,000,000 |
1,400,000,000 |
|
Capital Paid |
1,400,000,000 |
1,400,000,000 |
|
Statutory Reserve |
268,128,000 |
268,128,000 |
|
Retained Earning –
Unappropriated |
3,407,333,145 |
3,999,732,130 |
|
Total
Shareholders' Equity |
5,075,461,145 |
5,667,860,130 |
|
Total
Liabilities & Shareholders' Equity |
5,748,125,159 |
6,372,130,179 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Sales Income |
6,748,255,194 |
6,564,101,512 |
|
Interest Income |
33,824,594 |
18,397,140 |
|
Gain on Exchange Rate |
8,197,463 |
3,172,722 |
|
Other Income |
22,283,870 |
50,805,443 |
|
Total Revenues
|
6,812,561,121 |
6,636,476,817 |
|
Expenses |
|
|
|
|
|
|
|
Cost of Goods
Sold |
5,563,878,710 |
5,276,052,234 |
|
Selling Expenses |
374,925,949 |
372,604,067 |
|
Administrative Expenses |
166,155,448 |
147,948,056 |
|
Total Expenses |
6,104,960,107 |
5,796,604,357 |
|
Profit before Financial
Cost |
707,601,014 |
839,872,460 |
|
Financial Costs - Interest
Expenses |
- |
- |
|
Net Profit / [Loss] |
707,601,014 |
839,872,460 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
5.82 |
6.61 |
|
QUICK RATIO |
TIMES |
4.77 |
5.65 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.49 |
2.45 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.17 |
1.03 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
29.55 |
31.20 |
|
INVENTORY TURNOVER |
TIMES |
12.35 |
11.70 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
54.35 |
62.15 |
|
RECEIVABLES TURNOVER |
TIMES |
6.72 |
5.87 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
21.14 |
26.63 |
|
CASH CONVERSION CYCLE |
DAYS |
62.76 |
66.72 |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
82.45 |
80.38 |
|
SELLING & ADMINISTRATION |
% |
8.02 |
7.93 |
|
INTEREST |
% |
- |
- |
|
GROSS PROFIT MARGIN |
% |
18.50 |
20.73 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.49 |
12.79 |
|
NET PROFIT MARGIN |
% |
10.49 |
12.79 |
|
RETURN ON EQUITY |
% |
13.94 |
14.82 |
|
RETURN ON ASSET |
% |
12.31 |
13.18 |
|
EARNING PER SHARE |
BAHT |
50.54 |
59.99 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.12 |
0.11 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.13 |
0.12 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
2.81 |
|
|
OPERATING PROFIT |
% |
(15.75) |
|
|
NET PROFIT |
% |
(15.75) |
|
|
FIXED ASSETS |
% |
1.05 |
|
|
TOTAL ASSETS |
% |
(9.79) |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
18.50 |
Impressive |
Industrial
Average |
13.98 |
|
Net Profit Margin |
10.49 |
Impressive |
Industrial
Average |
4.31 |
|
Return on Assets |
12.31 |
Impressive |
Industrial
Average |
4.00 |
|
Return on Equity |
13.94 |
Impressive |
Industrial
Average |
7.52 |
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 18.5%. 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 10.49%,
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
12.31%, 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 13.94%, 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 |
5.82 |
Impressive |
Industrial
Average |
1.63 |
|
Quick Ratio |
4.77 |
|
|
|
|
Cash Conversion Cycle |
62.76 |
|
|
|
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 5.82 times in 2011, decreased from 6.61 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 4.77 times in 2011,
decreased from 5.65 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 63 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE RATIO
|
Debt Ratio |
0.12 |
Impressive |
Industrial
Average |
0.41 |
|
Debt to Equity Ratio |
0.13 |
Impressive |
Industrial
Average |
0.75 |
|
Times Interest Earned |
- |
|
Industrial
Average |
6.16 |
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 0.12 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 |
2.49 |
Impressive |
Industrial
Average |
1.65 |
|
Total Assets Turnover |
1.17 |
Impressive |
Industrial
Average |
0.94 |
|
Inventory Conversion Period |
29.55 |
|
|
|
|
Inventory Turnover |
12.35 |
Impressive |
Industrial
Average |
5.52 |
|
Receivables Conversion Period |
54.35 |
|
|
|
|
Receivables Turnover |
6.72 |
Impressive |
Industrial
Average |
4.67 |
|
Payables Conversion Period |
21.14 |
|
|
|
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.52.69 |
|
|
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.68.14 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.