MIRA
INFORM REPORT
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Report Date : |
27.09.2012 |
IDENTIFICATION DETAILS
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Name : |
YONGPING
PLASTIC [ |
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Registered Office : |
406/17 R K Park Village, Leabklong 2 Road, Bangchan, Klongsamwa, Bangkok 10510 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
30.09.2011 |
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Com. Reg. No.: |
0105554131122 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, distributor and
exporter of Printing and advertising
equipment |
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No. of Employees : |
35 employees |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
---- |
NB |
New Business |
---- |
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Status : |
New business |
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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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Thailand |
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 |
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
YONGPING PLASTIC [THAILAND] CO., LTD.
SUMMARY
BUSINESS ADDRESS : 406/17 R K
PARK VILLAGE, LEABKLONG
2 ROAD,
BANGCHAN, KLONGSAMWA,
BANGKOK 10510
TELEPHONE : [66] 2183-0200
FAX : [66] 2183-0200
E-MAIL ADDRESS : yongpingthai@gmail.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2011
REGISTRATION NO. : 0105554131122
TAX ID NO. : 3034731674
CAPITAL REGISTERED : BHT.
30,000,000
CAPITAL PAID-UP : BHT.
12,000,000
SHAREHOLDER’S PROPORTION : CHINESE :
70.00%
THAI
: 30.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SHUINIU WANG,
CHINESE
MANAGING DIRECTOR
NO. OF STAFF : 35
LINES OF BUSINESS : PRINTING AND
ADVERTISING EQUIPMENT
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
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 September 30, 2011 as
a private limited
company under the registered
name YONGPING PLASTIC
[THAILAND] CO., LTD.,
by Chinese and Thai groups, with the
business objective to
manufacture printing and advertising
equipments for both
local and overseas
markets. It currently
employs 35 staff.
The
subject’s registered address
is 406/17 R K
Park Village, Leabklong
2 Rd., Bangchan,
Klongsamwa, Bangkok 10510,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
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Mr. Shuiniu Wang |
[x] |
Chinese |
47 |
|
Mr. Pan Sheng Li |
[x] |
Chinese |
46 |
|
Mr. Tao Sheng Li |
|
Thai |
47 |
AUTHORIZED PERSON
One of the mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Shuiniu Wang is
the Managing Director.
He is Chinese
nationality with the
age of 47
years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting of PVC
flex banner, used
in printing and
advertising business.
BRAND NAME
“YONGPING”
PURCHASE
Most of raw
materials and chemicals
are purchased from
local suppliers, the
remaining, such as PVC and
vinyl sheet are
imported from Republic
of China and
Germany.
SALES
80%
of the products
is sold locally
by wholesale to
manufacturers and end-users,
the remaining 20% is exported
to India.
MAJOR CUSTOMER
Yongping
[Thailand] Co., Ltd. : Thailand
RELATED AND AFFILIATED
COMPANIES
Yongping [Thailand]
Co., Ltd.
Business
Type : Importer
and distributor of
printing and advertising
equipment.
Yongping Advertising
Digital Technology Co.,
Ltd.
Business
Type : Importer
and distributor of
printing and advertising
equipment.
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 credits term
of 30-60 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 35 staff.
LOCATION DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in residential area.
Factory
and warehouse are
located at 43
Moo 9, T. Nongree,
A. Muang, Chonburi 20000.
Branch
101/21
Moo 1, T. Krathu, A. Krathu, Phuket
83120.
COMMENT
Subject was established in September
2011 as a manufacturer,
distributor and exporter of
printing and advertising
equipments. Its first
year operation was
reported at slow
level, however its
business performance in
2012 has gradually
increased but overall
business remains fair.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 30,000,000
divided into 300,000
shares of Bht.
100 each with
40% paid-up.
THE SHAREHOLDERS LISTED
WERE : [as at
June 28, 2012]
at Bht. 12,000,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Shuiniu Wang Nationality: Chinese Address : 406/17
Leabklong 2 Rd.,
Bangchan, Klongsamwa, Bangkok
|
120,000 |
40.00 |
|
Mr. Pan Sheng Li Nationality: Chinese Address : 406/17
Leabklong 2 Rd.,
Bangchan,
Klongsamwa, Bangkok |
90,000 |
30.00 |
|
Mr. Tao Sheng Li Nationality: Thai Address : 406/17
Leabklong 2 Rd.,
Bangchan,
Klongsamwa, Bangkok |
90,000 |
30.00 |
Total Shareholders : 3
Share Structure [as
at June 28,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
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|
Thai |
1 |
90,000 |
30.00 |
|
Foreign - Chinese |
2 |
210,000 |
70.00 |
|
Total |
3 |
300,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Kanasnand Mongkol No.
10626
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011 was :
ASSETS
|
Current Assets |
2011 |
|
|
|
|
Cash in Hand |
58,012.00 |
|
Other Receivable |
36,295.89 |
|
Loan
to Director |
7,200,000.00 |
|
|
|
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Total Current
Assets |
7,294,307.89 |
|
Total Assets
|
7,294,307.89 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
|
|
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Other Payable |
4,000.00 |
|
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Total Current Liabilities |
4,000.00 |
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Total Liabilities |
4,000.00 |
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Shareholders'
Equity |
|
|
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|
Share
capital : Baht 100 value
authorized, issued and
fully
paid share capital
300,000 shares |
30,000,000.00 |
|
|
|
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Capital
Paid |
7,500,000.00 |
|
Retained
Earning - Unappropriated |
[209,692.11] |
|
Total Shareholders' Equity |
7,290,307.89 |
|
Total Liabilities & Shareholders' Equity |
7,294,307.89 |
PROFIT & LOSS ACCOUNT
|
Revenue |
Sept. 30,
2011 - Dec. 31,
2011 |
|
|
|
|
Other
Income |
36,295.89 |
|
Total Revenues |
36,295.89 |
|
Expenses |
|
|
|
|
|
Administrative Expenses |
245,988.00 |
|
Total Expenses |
245,988.00 |
|
Net Profit / [Loss] |
[209,692.11] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
CURRENT RATIO |
TIMES |
1,823.58 |
|
QUICK RATIO |
TIMES |
1,823.58 |
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|
|
|
|
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 |
- |
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CASH CONVERSION CYCLE |
DAYS |
- |
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PROFITABILITY
RATIO |
|
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COST OF GOODS SOLD |
% |
- |
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SELLING & ADMINISTRATION |
% |
- |
|
INTEREST |
% |
- |
|
GROSS PROFIT MARGIN |
% |
- |
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NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
|
NET PROFIT MARGIN |
% |
- |
|
RETURN ON EQUITY |
% |
(2.88) |
|
RETURN ON ASSET |
% |
(2.87) |
|
EARNING PER SHARE |
BAHT |
(2.80) |
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
DEBT RATIO |
TIMES |
0.00 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.00 |
|
TIME INTEREST EARNED |
TIMES |
- |
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial Average |
14.47 |
|
Net Profit Margin |
- |
|
Industrial Average |
2.07 |
|
Return on Assets |
(2.87) |
Deteriorated |
Industrial Average |
2.75 |
|
Return on Equity |
(2.88) |
Deteriorated |
Industrial Average |
6.20 |
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
-2.87%.
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
-2.88%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY RATIO
|
Current Ratio |
1,823.58 |
Impressive |
Industrial Average |
1.26 |
|
Quick Ratio |
1,823.58 |
|
|
|
|
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 1823.58 times in 2011, increase 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 1823.58 times in 2011, increase 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 |
0.00 |
Impressive |
Industrial Average |
0.56 |
|
Debt to Equity Ratio |
0.00 |
Impressive |
Industrial Average |
1.26 |
|
Times Interest Earned |
- |
|
Industrial Average |
2.85 |
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 |
2.61 |
|
Total Assets Turnover |
- |
|
Industrial Average |
1.28 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
6.32 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
4.79 |
|
Payables Conversion Period |
- |
|
|
|
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Downtrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.58 |
|
UK Pound |
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.94 |
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.