MIRA
INFORM REPORT
|
Report Date : |
24.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ANOUSHKA CO.,
LTD. |
|
|
|
|
Registered Office : |
2nd
Floor, |
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
2005 |
|
|
|
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Com. Reg. No.: |
0105548156143 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Importing and distributing luxury furniture, handicrafts, artifacts and other products |
|
|
|
|
No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Recently Commence Business Activity |
|
Payment Behaviour : |
Slow but Correct |
|
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 |
|
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
ANOUSHKA
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 24th FLOOR,
OCEAN TOWER II,
75/51 SUKHUMVIT
19 ROAD, KLONGTOEYNUA,
WATTANA, BANGKOK
10110, THAILAND
TELEPHONE : [66] 2661-6512-3
FAX :
[66] 2661-6513
E-MAIL
ADDRESS : anoushka.narula@gmail.com
REGISTRATION
ADDRESS : 2nd FLOOR,
LAKE VIEW APARTMENT,
146 SUKHUMVIT 16
ROAD, KLONGTOEY,
BANGKOK
10110
ESTABLISHED
: 2005
REGISTRATION
NO. : 0105548156143
TAX
ID NO. : 3032025621
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN : 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KULTHEP NARULA,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 3
LINES
OF BUSINESS : TRADING COMPANY
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : EARLY
STAGE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : -
MANAGEMENT
STANDARD : -
HISTORY
The
subject was established
on November 30,
2005 as a
private limited company
under the registered
name ANOUSHKA CO.,
LTD., by Thai
and Indian groups,
with the business
objective to import,
distribute and export
wide range of
products. It currently employs
3 staff.
The
subject’s registered address
is 2nd Floor,
Lake View Apartment,
Sukhumvit 16 Rd.,
Klongtoey, Bangkok 10110,
while the current
operation address is
at 24th Floor,
Ocean Tower II,
75/51 Sukhumvit 19 Rd., Klongtoeynua,
Wattana, Bangkok 10110.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Subi Singh |
|
Indian |
34 |
|
Mr. Kulthep Narula |
|
Thai |
38 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Kulthep Narula is
the Managing Director.
He is Thai
nationality with the
age of 38
years old.
BUSINESS OPERATIONS
The subject
is engaged in
international trading business,
by importing and
distributing luxury furniture,
handicrafts, artifacts and
other products, as
well as exporting
various products according to
customer’s orders.
The subject has
started its commercial
business activities in
2012.
PURCHASE
The
products are purchased
from both local
and overseas suppliers
mainly in India
and Europe.
SALES
The products are
sold to both
local and overseas
customers mainly in
India.
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
according 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
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
3 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in a commercial
area.
COMMENT
Though
the subject was
registered in 2005,
its commercial business
operation has been
taken place in
2012. It is
considered as a
newly established firm, any
business engagement should be
treated on a
secured basis with
a small credit
amount only.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 29, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kulthep Narula Nationality: Thai Address : 146
Sukhumvit 16 Rd.,
Klongtoey, Bangkok |
5,095 |
50.95 |
|
Mrs. Subi Singh Nationality: Indian Address : 146
Sukhumvit 16 Rd.,
Klongtoey, Bangkok |
4,900 |
49.00 |
|
Mr. Rajpal Narula Nationality: Thai Address : 146
Sukhumvit 16 Rd.,
Klongtoey, Bangkok |
1 |
0.01 |
|
Mr. Rajvin Narula Nationality: Thai Address : 146
Sukhumvit 16 Rd.,
Klongtoey, Bangkok |
1 |
0.01 |
|
Ms. Rekha Narula Nationality: Thai Address : 146
Sukhumvit 16 Rd.,
Klongtoey,
Bangkok |
1 |
0.01 |
|
Mrs. Simarat Narula Nationality: Thai Address : 146
Sukhumvit 16 Rd.,
Klongtoey,
Bangkok |
1 |
0.01 |
|
Ms. Chalalai Klaysathit Nationality: Thai Address : 193/4
Moo 5, Nakornchum,
Muang,
Kampaengpetch |
1 |
0.01 |
Total Shareholders : 7
Share Structure :
[as at April
29, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
5,100 |
51.00 |
|
Foreign - Indian |
1 |
4,900 |
49.00 |
|
Total |
7 |
10,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Athikom Preamaiyatien No.
5615
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 &
2010 were:
ASSETS
|
Current Assets |
2011 |
2010 |
|
|
|
|
|
Cash and Cash Equivalents |
198,773.65 |
174,664.65 |
|
Deferred Interest
|
27,000.00 |
27,000.00 |
|
|
|
|
|
Total Current Assets
|
225,773.65 |
201,664.65 |
|
|
|
|
|
Long-term Loan to
Directors |
900,000.00 |
900,000.00 |
|
Total Assets |
1,125,773.65 |
1,101,664.65 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
|
|
|
|
|
Other Payable |
2,000.00 |
2,000.00 |
|
|
|
|
|
Total Current Liabilities |
2,000.00 |
2,000.00 |
|
Total Liabilities |
2,000.00 |
2,000.00 |
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
|
|
|
|
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning - Unappropriated |
123,773.65 |
99,664.65 |
|
Total Shareholders' Equity |
1,123,773.65 |
1,099,664.65 |
|
Total Liabilities & Shareholders' Equity |
1,125,773.65 |
1,101,664.65 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
|
|
|
|
|
Other Income |
27,000.00 |
27,000.00 |
|
Total Revenues |
27,000.00 |
27,000.00 |
|
Expenses |
|
|
|
|
|
|
|
Selling and Administrative Expenses |
2,891.00 |
2,891.00 |
|
Total Expenses |
2,891.00 |
2,891.00 |
|
Net Profit / [Loss] |
24,109.00 |
24,109.00 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
CURRENT RATIO |
TIMES |
112.89 |
100.83 |
|
QUICK RATIO |
TIMES |
112.89 |
100.83 |
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
- |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
- |
- |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
- |
|
RECEIVABLES TURNOVER |
TIMES |
- |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
- |
|
CASH CONVERSION CYCLE |
DAYS |
- |
- |
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
COST OF GOODS SOLD |
% |
- |
- |
|
SELLING & ADMINISTRATION |
% |
- |
- |
|
INTEREST |
% |
- |
- |
|
GROSS PROFIT MARGIN |
% |
- |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
- |
|
NET PROFIT MARGIN |
% |
- |
- |
|
RETURN ON EQUITY |
% |
2.15 |
2.19 |
|
RETURN ON ASSET |
% |
2.14 |
2.19 |
|
EARNING PER SHARE |
BAHT |
2.41 |
2.41 |
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
DEBT RATIO |
TIMES |
0.00 |
0.00 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.00 |
0.00 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
SALES GROWTH |
% |
- |
|
|
OPERATING PROFIT |
% |
- |
|
|
NET PROFIT |
% |
- |
|
|
FIXED ASSETS |
% |
- |
|
|
TOTAL ASSETS |
% |
2.19 |
|
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial
Average |
18.71 |
|
Net Profit Margin |
- |
|
Industrial
Average |
0.60 |
|
Return on Assets |
2.14 |
Impressive |
Industrial
Average |
0.91 |
|
Return on Equity |
2.15 |
Acceptable |
Industrial
Average |
3.24 |
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
2.14%, 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. When compared with the
industry average, it was lower, the company's figure is 2.15%.
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 |
112.89 |
Impressive |
Industrial
Average |
1.48 |
|
Quick Ratio |
112.89 |
|
|
|
|
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 112.89 times in 2011, increase from 100.83 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 112.89 times in 2011,
increase from 100.83 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 |
0.00 |
Impressive |
Industrial
Average |
0.69 |
|
Debt to Equity Ratio |
0.00 |
Impressive |
Industrial
Average |
2.15 |
|
Times Interest Earned |
- |
|
Industrial
Average |
0.88 |
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 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 |
3.44 |
|
Total Assets Turnover |
- |
|
Industrial Average |
1.32 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
2.14 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
5.38 |
|
Payables Conversion Period |
- |
|
|
|
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.53.90 |
|
|
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.70.00 |
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.