MIRA
INFORM REPORT
|
Report Date : |
01.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ZAVER
DIAM CO., LTD. |
|
|
|
|
Registered Office : |
21st Floor, Bangkok Gems & Jewellery Building, 322/51 Surawong Road, Siphya, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
30.07.2008 |
|
|
|
|
Com. Reg. No.: |
0105551083852 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
subject
is engaged in importing
and distributing of
full cut polished
diamonds with sizes
ranging from 0.8 mm.- 12
mm., for jewelry
trading and manufactures |
|
|
|
|
No. of Employees : |
03 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually 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 – 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
ZAVER DIAM CO., LTD.
SUMMARY
BUSINESS ADDRESS : 21st FLOOR, BANGKOK GEMS & JEWELLERY BUILDING,
322/51 SURAWONG
ROAD, SIPHYA,
BANGRAK, BANGKOK
10500, THAILAND
TELEPHONE : [66] 2267-1122,
087 099-0909
FAX :
[66] 2233-2295,
2631-8996
E-MAIL
ADDRESS : zaverdiam@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2008
REGISTRATION
NO. : 0105551083852
TAX
ID NO. : 3033151362
CAPITAL REGISTERED : BHT. 12,000,000
CAPITAL PAID-UP : BHT.
12,000,000
SHAREHOLDER’S PROPORTION : THAI :
55 %
INDIAN
: 45 %
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PRAKASH SAMBHUBHAI
ITALIA, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 3
LINES
OF BUSINESS : DIAMONDS
IMPORTER AND
DISTRIBUTOR
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established on July
30, 2008 as a
private limited company under
the registered name style ZAVER
DIAM CO., LTD. by
Thai and Indian
groups. Its business
objective is to
import and distribute
diamonds to domestic
market. It currently
employs 3 staff.
The subject’s registered
address was initially
located at 17th Flr.,
I.T.F. Silom Place
Bldg., 160/324 Silom
Rd., Suriyawiongse, Bangrak,
Bangkok 10500.
In
2010, the subject’s
registered address was moved to Room
C, 22nd Floor,
Bangkok Gems & Jewellery Bldg.,
322/54 Surawong Rd.,
Siphya, Bangrak, Bangkok
10500.
On
December 20, 2011,
its address was
relocated to 21st Floor,
Bangkok Gems & Jewellery
Bldg., 322/51 Surawong Rd., Siphya, Bangrak, Bangkok 10500, and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Prakash Sambhubhai Italia |
|
Indian |
35 |
|
Mrs. Shwetabahen Prakash Italia |
|
Indian |
31 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Prakash Sambhubhai Italia
is the Managing
Director.
He is Indian
nationality with the
age of 35 years
old.
BUSINESS OPERATIONS
The subject is engaged in
importing and distributing
of full cut
polished diamonds with
sizes ranging from
0.8 mm.- 12 mm., for
jewelry trading and
manufactures.
IMPORT
100%
of the products
is imported from
India.
SALES
100% of the
products is sold
locally by wholesale
to traders, manufacturers
and
end-users.
MAJOR
CUSTOMERS
Manee
Diam Co., Ltd.
Ariha
Diamond Jewelry Co.,
Ltd.
RELATED AND AFFILIATED
COMPANY
Manee Diam Co.,
Ltd.
Business Type :
Importer and distributor
of diamonds and
gemstones.
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.
Imports are by
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs 3
staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a prime commercial area.
COMMENT
Subject
is an importer and distributor of diamonds. Its business had an
outstanding improvement in
2011, due to
strong expansion of jewelry
products consumption both domestic
and overseas markets.
Continued
growing of exports
has resulted to
strong demand of
diamond and related
products. Subject has
enjoyed its business
growth during this two years.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 4,000,000 divided into 40,000 shares of Bht. 100 each
with fully paid.
The
capital was increased
later as followed:
Bht. 8,000,000
on December 20,
2011
Bht. 12,000,000
on October 3,
2012
The
latest registered capital
was increased to
Bht. 12,000,000 divided into
120,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
September 28, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Shwetabahen Prakash Italia Nationality: Indian Address : 38/26
Sathorn Rd., Thungmahamek,
Sathorn, Bangkok |
27,000 |
22.50 |
|
Mr. Prakash Sambhubhai Italia Nationality: Indian Address : 38/26
Sathorn Rd., Thungmahamek,
Sathorn, Bangkok |
27,000 |
22.50 |
|
Ms. Boonruan Narkjai Nationality: Thai Address : 443
Moo 8, Laemrang,
Buengnarang, Pichit |
13,200 |
11.00 |
|
Mrs. Chalao Sumalu Nationality: Thai Address : 148/1
Moo 8, Laemrang,
Buengnarang, Pichit |
13,200 |
11.00 |
|
Ms. Anyarat Mingmool Nationality: Thai Address : 27
Moo 7, T. Muangyai, A. Phosai,
Ubon Ratchathani |
13,200 |
11.00 |
|
Mr. Udom Srinonemuang Nationality: Thai Address : 71
Moo 3, Huayhinlad,
Suwannaphum, Roi-ed |
13,200 |
11.00 |
|
Mr. Krairas Seekavee Nationality: Thai Address : 56/1
Moo 6, Huaykayung, Varinchamrab, Ubon Ratchathani |
13,200 |
11.00 |
Total Shareholders : 7
Share Structure [as
at September 28,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
66,000 |
55.00 |
|
Foreign - Indian |
2 |
54,000 |
45.00 |
|
Total |
7 |
120,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Wuthichai Krai-arnont No. 7573
Note.
The 2012 financial
statement has yet
been submitted to
Commercial Registration Department.
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalent |
107,133.30 |
519,125.83 |
42,480.00 |
|
Trade Account & Other Receivable |
120,968,955.16 |
10,059,924.56 |
- |
|
Short-term Lending from Related
Person |
- |
2,150,000.00 |
2,150,000.00 |
|
Inventories |
78,270,419.89 |
10,394,687.49 |
512,535.15 |
|
Other Current Assets |
6,300.00 |
- |
97,000.00 |
|
|
|
|
|
|
Total Current Assets
|
199,352,808.35 |
23,123,737.88 |
2,802,015.15 |
|
Equipment, net |
178,327.19 |
- |
- |
|
Total Assets |
199,531,135.54 |
23,123,737.88 |
2,802,015.15 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Account & Other Payable |
180,030,509.74 |
19,216,705.25 |
- |
|
Accrued Income Tax |
1,170,609.34 |
- |
- |
|
Other Current Liabilities |
- |
- |
16,520.00 |
|
|
|
|
|
|
Total Current Liabilities |
181,201,119.08 |
19,216,705.25 |
16,520.00 |
|
Long-term Loans |
7,898,000.00 |
- |
- |
|
Total Liabilities |
189,099,119.08 |
19,216,705.25 |
16,520.00 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 80,000 share in 2011; 40,000
shares in 2010 & 2009 respectively |
8,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
|
|
|
|
|
Capital Paid |
8,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning - Unappropriated |
2,432,016.46 |
[92,967.37] |
[1,214,504.85] |
|
Total Shareholders' Equity |
10,432,016.46 |
3,907,032.63 |
2,785,495.15 |
|
Total Liabilities &
Shareholders' Equity |
199,531,135.54 |
23,123,737.88 |
2,802,015.15 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
198,306,896.96 |
26,307,510.55 |
235,334.61 |
|
Interest Income |
- |
43,000.07 |
64,500.00 |
|
Gain on Exchange Rate |
- |
38,604.28 |
- |
|
Other Income |
538.16 |
0.01 |
- |
|
Total Revenues |
198,307,435.12 |
26,389,114.91 |
299,834.61 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
189,655,264.32 |
24,347,796.22 |
230,288.15 |
|
Selling Expenses |
372,186.17 |
6,218.00 |
- |
|
Administrative Expenses |
4,520,941.46 |
913,563.21 |
1,222,551.31 |
|
Total Expenses |
194,548,391.95 |
25,267,577.43 |
1,452,839.46 |
|
|
|
|
|
|
Profit/[Loss] Before Income Tax |
3,759,043.17 |
1,121,537.48 |
[1,153,004.85] |
|
Income Tax |
[1,234,059.34] |
- |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
2,524,983.83 |
1,121,537.48 |
[1,153,004.85] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.10 |
1.20 |
169.61 |
|
QUICK RATIO |
TIMES |
0.67 |
0.66 |
132.72 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1,112.04 |
- |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.99 |
1.14 |
0.08 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
150.63 |
155.83 |
812.35 |
|
INVENTORY TURNOVER |
TIMES |
2.42 |
2.34 |
0.45 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
222.65 |
139.58 |
- |
|
RECEIVABLES TURNOVER |
TIMES |
1.64 |
2.62 |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
346.48 |
288.08 |
- |
|
CASH CONVERSION CYCLE |
DAYS |
26.81 |
7.32 |
812.35 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.64 |
92.55 |
97.86 |
|
SELLING & ADMINISTRATION |
% |
2.47 |
3.50 |
519.49 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
4.36 |
7.76 |
29.55 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.90 |
4.26 |
(489.94) |
|
NET PROFIT MARGIN |
% |
1.27 |
4.26 |
(489.94) |
|
RETURN ON EQUITY |
% |
24.20 |
28.71 |
(41.39) |
|
RETURN ON ASSET |
% |
1.27 |
4.85 |
(41.15) |
|
EARNING PER SHARE |
BAHT |
31.56 |
28.04 |
(28.83) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.95 |
0.83 |
0.01 |
|
DEBT TO EQUITY RATIO |
TIMES |
18.13 |
4.92 |
0.01 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
653.80 |
11,078.77 |
|
|
OPERATING PROFIT |
% |
235.17 |
(197.27) |
|
|
NET PROFIT |
% |
125.14 |
197.27 |
|
|
FIXED ASSETS |
% |
- |
- |
|
|
TOTAL ASSETS |
% |
762.88 |
725.25 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 653.8%. Turnover has increased from THB
26,307,510.55 in 2010 to THB 198,306,896.96 in 2011. While net profit has
increased from THB 1,121,537.48 in 2010 to THB 2,524,983.83 in 2011. And total
assets has increased from THB 23,123,737.88 in 2010 to THB 199,531,135.54 in
2011.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.36 |
Deteriorated |
Industrial Average |
9.66 |
|
Net Profit Margin |
1.27 |
Impressive |
Industrial Average |
(0.20) |
|
Return on Assets |
1.27 |
Impressive |
Industrial Average |
(0.27) |
|
Return on Equity |
24.20 |
Impressive |
Industrial Average |
(0.72) |
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 4.36%. When compared with
the industry average, the ratio of the company was lower, this indicated that
company may have problems with control over its costs.
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 1.27%, 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
1.27%, 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 24.2%, higher figure when compared
with those of its average competitors in the same industry, indicated that
business was an efficient profits in a dominant position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Stable
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.10 |
Acceptable |
Industrial Average |
1.72 |
|
Quick Ratio |
0.67 |
|
|
|
|
Cash Conversion Cycle |
26.81 |
|
|
|
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 1.1 times in 2011, decreased from 1.2 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 0.67 times in 2011,
increased from 0.66 times, then the company has not enough current assets that presumably
can be quickly converted to cash for pay financial obligations.
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 27 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.95 |
Acceptable |
Industrial Average |
0.60 |
|
Debt to Equity Ratio |
18.13 |
Risky |
Industrial Average |
1.67 |
|
Times Interest Earned |
- |
|
Industrial Average |
0.63 |
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 0.95 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Uptrend
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1,112.04 |
Impressive |
Industrial Average |
10.73 |
|
Total Assets Turnover |
0.99 |
Acceptable |
Industrial Average |
1.47 |
|
Inventory Conversion Period |
150.63 |
|
|
|
|
Inventory Turnover |
2.42 |
Impressive |
Industrial Average |
2.17 |
|
Receivables Conversion Period |
222.65 |
|
|
|
|
Receivables Turnover |
1.64 |
Deteriorated |
Industrial Average |
3.31 |
|
Payables Conversion Period |
346.48 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.64 and 2.62 in
2011 and 2010 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2011
decreased from 2010. This would suggest the company had deteriorated in the
management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has decreased from 156 days at the
end of 2010 to 151 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 2.34 times in year 2010 to 2.42 times
in year 2011.
The company's Total Asset Turnover is calculated as 0.99 times and 1.14
times in 2011 and 2010 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Uptrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
DIAMOND INDUSTRY –
INDIA
-
From time immemorial, India is well known in the world as the birthplace
for diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was possible only due to
combination of the manufacturing skills of the Indian workforce and the
untiring and unflagging efforts of the Indian diamantaires, supported by
progressive Government policies.
-
The area of study of family owned diamond businesses derives its importance
from the huge conglomerate of family run organizations which operate in the
diamond industry since many generations.
-
Some of the basic traits of family run business enterprises include
spirit of entrepreneurship, mutual trust lowers transaction costs, small,
nimble and quick to react, information as a source of advantage and
philanthropy.
-
Family owned diamond businesses need to improve on many fronts including
higher standard of corporate governance, long-term performance – focused
strategies, modern management and technology.
-
The diamond jewellery industry in India today may be more than Rs 60000
mil and is rated amongst the fastest growing in the world. Indi ranks
third in the world in domestic diamond consumption.
-
Utmost caution is to be exercised while dealing with some medium and
large diamond traders which are usually engaged in fictitious import – export,
inter-company transactions, financially assisted by banks. In the process,
several public sector banks lost several hundred million rupees. They mostly
diverted borrowed money for diamond business into real estate and capital
markets.
-
Excerpts from Times of India dated 30th October 2010 is as
under –
DIAMOND SAGA –
DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of
losing Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two
months ago, they had not repaid these dues. Bankers believe many
diamantaires borrowed money during the economic downturn two years ago and
diverted funds to businesses like real estate and capital markets. Many of
themselves made money from these businesses but their diamond companies have
gone sick and declared insolvency.
-
Most of the money borrowed from the banks in the name of their diamond
business has been diverted in real estate and the share market. The banks are
not in a position to seize their properties because in many cases, these were
purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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.