MIRA
INFORM REPORT
|
Report Date : |
15.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PAN
INDUSTRIAL PRODUCTS COMPANY
LIMITED |
|
|
|
|
Registered Office : |
400 Sampawut Road,
Bangna, Bangkok 10260 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
19.05.1987 |
|
|
|
|
Com. Reg. No.: |
0105530023591 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
subject is engaged in contracted
manufacturing and exporting
various kinds of wooden
furniture and accessories
made from rubber
wood and plywood |
|
|
|
|
No. of Employees : |
80 |
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 : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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
PAN INDUSTRIAL
PRODUCTS COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 400
SAMPAWUT ROAD, BANGNA,
BANGKOK 10260
TELEPHONE : [66] 2398-0164,
2399-3958, 2398-0191
FAX
: [66] 2398-0811
E-MAIL
ADDRESS : panindustrial@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1987
REGISTRATION
NO. : 0105530023591
TAX
ID NO. : 3101456417
CAPITAL REGISTERED : BHT. 30,000,000
CAPITAL PAID-UP : BHT.
30,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PAIBUL ATHIPHAN-AMPAI, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 80
LINES
OF BUSINESS : WOODEN FURNITURE
CONTRACTED MANUFACTURER
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 May 19,
1987 as a
private limited company
under the name
style PAN INDUSTRIAL
PRODUCTS COMPANY LIMITED,
by Thai groups,
with the business
objective to provide
manufacturing service various
kinds of wooden
furniture for international
markets. It currently
employs approximate 80
staff.
The
subject’s registered address
is 400 Sampawut Rd.,
Bangna, Bangkok 10260,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
Mr. Paibul Athiphan-ampai
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Paibul Athiphan-ampai is the Managing Director.
He is Thai
nationality with the
age of 70
years old.
BUSINESS OPERATIONS
The subject is engaged in contracted
manufacturing and exporting
various kinds of wooden
furniture and accessories
made from rubber
wood and plywood.
The products are
table, chair, door,
window and etc.,
according to customer
requirements and brands.
PURCHASE
100% of raw
materials; rubber wood
and plywood, as
well as components
are purchased from
local suppliers.
EXPORT
100% of the products
is exported to
Singapore, Korea, Hong
Kong, Indonesia, Malaysia,
Japan and countries
in Europe.
SUBSIDIARY AND AFFILIATED
COMPANIES
Leowood International Co.,
Ltd.
Business Type :
Manufacturer and distributor
of wooden floor
products
Leowood Intertrade Co.,
Ltd.
Business Type :
Importer and distributor
of wooden furniture & bathroom furniture
Pan Industry Fareast
Group Co., Ltd.
Business Type :
Manufacturer and distributor
of beverages
Pan Industrial Park
Co., Ltd.
Business Type :
Manufacturer and distributor of
wooden furniture
Leowood Impex Co.,
Ltd.
Business Type :
Manufacturer and distributor
of wooden floor
products
Pan Industrial Products
Co., Ltd.
Business Type :
Manufacturer and distributor
of wooden floor
products.
Pan Inter Foods
Co., Ltd.
Business Type :
Manufacturer and distributor
of canned food
products
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
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately 80
office staff and
factory workers.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Factory
and warehouse are
located at 99
Moo 5, T.
Nawanghin, A. Panasnikom,
Chonburi 20140. Tel. :
[66] 38 299-340-8.
COMMENT
The
subject was formed
in 1987 as
a manufacturer, distributor
and exporter of
wooden furniture. 100% of
the products is
now for export
in which overseas
markets has been
expanded to Korea, Hong
Kong, Indonesia, Malaysia
and Europe besides
Japan and Singapore.
Consumption
improvement in many
countries as well
as its strength
in production, sales
and marketing, the
subject will have
outstanding performance this year.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 10,000,000 divided
into 10,000 shares of Bht.
1,000 each.
The
capital was increased
later as following:
Bht. 20,000,000
on May 20,
1988
Bht. 30,000,000
on September 14,
1988
The
latest registered capital
was increased to Bht.
30,000,000 divided into
30,000 shares of
Bht. 1,000 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Paibul Athiphan-ampai Nationality: Thai Address : 400
Sampawut Rd., Bangna,
Bangkok |
5,500 |
18.33 |
|
Mrs. Sumalee Athiphan-ampai Nationality: Thai Address : 320/9
Sampawut Rd., Bangna,
Bangkok |
5,500 |
18.33 |
|
Mr. Samarnchai Athiphan-ampai Nationality: Thai Address : 27/1
Poochaosamingprai Rd., Samrong,
Phrapradaeng, Samutprakarn |
4,500 |
15.00 |
|
Mr. Sitthichai Athiphan-ampai Nationality: Thai Address : 92/30
Moo 4, Bangchalong, Bangplee,
Samutprakarn |
4,500 |
15.00 |
|
Ms. Pornsuk Ratanapitaksakul Nationality: Thai Address : 320/34
Sampawut Rd., Bangna,
Bangkok |
4,500 |
15.00 |
|
Ms. Sumontha Athiphan-ampai Nationality: Thai Address : 320/9
Sampawut Rd., Bangna,
Bangkok |
4,500 |
15.00 |
|
Master Singh Athiphan-ampai Nationality: Thai Address : 320/34
Sampawut Rd., Bangna,
Bangkok |
1,000 |
3.34 |
Total Shareholders : 7
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
30,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
30,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Ronnakorn
Rerksanthitiwong No. 4645
Note:
The 2012 financial
statement was not
available during investigation.
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 |
4,091,921.19 |
3,897,643.24 |
4,374,182.69 |
|
Trade Account Receivable |
84,242,434.42 |
74,117,563.94 |
72,289,988.69 |
|
Inventories |
77,588,918.41 |
39,539,139.09 |
11,964,920.00 |
|
Other Current Assets
|
1,771,020.69 |
51,579.15 |
145,011.64 |
|
Total Current Assets
|
167,694,294.71 |
117,605,925.42 |
88,774,103.02 |
|
|
|
|
|
|
Land Building and
Equipment |
6,330,037.08 |
5,500,981.64 |
6,215,951.14 |
|
Deferred Income |
8,981,553.94 |
- |
13,338,933.26 |
|
Other Assets |
- |
18,289,428.17 |
1,200,000.00 |
|
Total Assets |
15,311,591.02 |
23,790,409.81 |
109,528,987.42 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft |
30,949,039.96 |
13,004,662.09 |
5,175,209.01 |
|
Payable Trust Receipt |
47,384,446.04 |
29,988,810.28 |
4,645,638.63 |
|
Short-term Loan from Bank |
20,000,000.00 |
20,000,000.00 |
13,500,000.00 |
|
Loan from Related Company |
10,000,000.00 |
10,000,000.00 |
- |
|
Loan from Related Person |
3,700,000.00 |
- |
- |
|
Trade Account Payable |
16,096,289.14 |
14,504,015.82 |
2,308,190.91 |
|
Other Current Liabilities |
3,539,288.31 |
522,176.73 |
249,936.85 |
|
Total Current Liabilities |
131,669,063.45 |
88,019,664.92 |
25,878,975.40 |
|
|
|
|
|
|
Long-term Loan from Financial Institutions |
25,007,499.15 |
29,425,202.75 |
60,591,035.65 |
|
Financial Lease Contract
Payable |
924,405.61 |
679,155.12 |
- |
|
Total Liabilities |
157,600,968.21 |
118,124,022.79 |
86,470,011.05 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
value authorized, issued
and fully paid share
capital 30,000 shares |
30,000,000.00 |
30,000,000.00 |
30,000,000.00 |
|
Capital Paid |
30,000,000.00 |
30,000,000.00 |
30,000,000.00 |
|
Retained Earning -
Unappropriated [Deficit] |
[6,853,916.60] |
[6,727,687.56] |
[6,941,023.63] |
|
Total Shareholders' Equity |
25,404,917.52 |
23,272,312.44 |
23,058,976.37 |
|
Total Liabilities &
Shareholders' Equity |
183,005,885.73 |
141,396,335.23 |
109,528,987.42 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
192,078,443.17 |
161,422,112.93 |
192,403,695.57 |
|
Other Income |
3,016,846.47 |
1,742,780.54 |
1,065,355.67 |
|
Total Revenues |
195,095,289.64 |
163,164,893.47 |
193,469,051.24 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
182,594,288.07 |
153,019,721.98 |
182,726,237.92 |
|
Selling and Administrative Expenses |
6,436,184.47 |
6,470,596.99 |
5,616,464.62 |
|
Total Expenses |
189,030,472.54 |
159,490,318.97 |
188,342,702.54 |
|
Profit / [Loss] before Financial Cost & Income Tax
|
6,064,817.10 |
3,674,574.50 |
5,126,348.70 |
|
Financial Cost |
[6,191,046.14] |
[3,265,575.57] |
[3,518,040.81] |
|
Profit / [Loss] before Income
Tax |
[126,229.04] |
408,998.93 |
1,608,307.89 |
|
Income Tax |
- |
[195,662.86] |
- |
|
Net Profit / [Loss] |
[126,229.04] |
213,336.07 |
1,608,307.89 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.27 |
1.34 |
3.43 |
|
QUICK RATIO |
TIMES |
0.67 |
0.89 |
2.96 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
30.34 |
29.34 |
30.95 |
|
TOTAL ASSETS TURNOVER |
TIMES |
12.54 |
6.79 |
1.76 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
155.10 |
94.31 |
23.90 |
|
INVENTORY TURNOVER |
TIMES |
2.35 |
3.87 |
15.27 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
160.08 |
167.59 |
137.14 |
|
RECEIVABLES TURNOVER |
TIMES |
2.28 |
2.18 |
2.66 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
32.18 |
34.60 |
4.61 |
|
CASH CONVERSION CYCLE |
DAYS |
283.00 |
227.31 |
156.43 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.06 |
94.79 |
94.97 |
|
SELLING & ADMINISTRATION |
% |
3.35 |
4.01 |
2.92 |
|
INTEREST |
% |
3.22 |
2.02 |
1.83 |
|
GROSS PROFIT MARGIN |
% |
6.51 |
6.28 |
5.58 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.16 |
2.28 |
2.66 |
|
NET PROFIT MARGIN |
% |
(0.07) |
0.13 |
0.84 |
|
RETURN ON EQUITY |
% |
(0.50) |
0.92 |
6.97 |
|
RETURN ON ASSET |
% |
(0.82) |
0.90 |
1.47 |
|
EARNING PER SHARE |
BAHT |
(4.21) |
7.11 |
53.61 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
10.29 |
4.97 |
0.79 |
|
DEBT TO EQUITY RATIO |
TIMES |
6.20 |
5.08 |
3.75 |
|
TIME INTEREST EARNED |
TIMES |
0.98 |
1.13 |
1.46 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
18.99 |
(16.10) |
|
|
OPERATING PROFIT |
% |
65.05 |
(28.32) |
|
|
NET PROFIT |
% |
(159.17) |
(86.74) |
|
|
FIXED ASSETS |
% |
15.07 |
(11.50) |
|
|
TOTAL ASSETS |
% |
(35.64) |
(78.28) |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 18.99%. Turnover has increased from THB
161,422,112.93 in 2010 to THB 192,078,443.17 in 2011. While net profit has decreased
from THB 213,336.07 in 2010 to THB -126,229.04 in 2011. And total assets has
decreased from THB 23,790,409.81 in 2010 to THB 15,311,591.02 in 2011.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
6.51 |
Deteriorated |
Industrial Average |
16.36 |
|
Net Profit Margin |
(0.07) |
Deteriorated |
Industrial Average |
2.48 |
|
Return on Assets |
(0.82) |
Deteriorated |
Industrial Average |
1.73 |
|
Return on Equity |
(0.50) |
Deteriorated |
Industrial Average |
(2.44) |
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 6.51%. 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 -0.07%.
When compared with the industry average, the ratio of the company was lower.
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 -0.82%.
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 -0.5%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.27 |
Satisfactory |
Industrial Average |
1.33 |
|
Quick Ratio |
0.67 |
|
|
|
|
Cash Conversion Cycle |
283.00 |
|
|
|
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 1.27 times in 2011, decreased from 1.34 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,
decreased from 0.89 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 284 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
10.29 |
Risky |
Industrial Average |
0.42 |
|
Debt to Equity Ratio |
6.20 |
Risky |
Industrial Average |
0.01 |
|
Times Interest Earned |
0.98 |
Risky |
Industrial Average |
3.16 |
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 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 0.98 lower than 1, so the company is not generating
enough cash from EBIT to meet its interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 10.29 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 Downtrend
Times Interest Earned Uptrend
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
30.34 |
Impressive |
Industrial Average |
1.28 |
|
Total Assets Turnover |
12.54 |
Impressive |
Industrial Average |
0.81 |
|
Inventory Conversion Period |
155.10 |
|
|
|
|
Inventory Turnover |
2.35 |
Acceptable |
Industrial Average |
3.50 |
|
Receivables Conversion Period |
160.08 |
|
|
|
|
Receivables Turnover |
2.28 |
Deteriorated |
Industrial Average |
6.19 |
|
Payables Conversion Period |
32.18 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.28 and 2.18 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
increased from 2010. This would suggest the company had good performance 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 increased from 94 days at the
end of 2010 to 155 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 3.87 times in year 2010 to 2.35 times
in year 2011.
The company's Total Asset Turnover is calculated as 12.54 times and 6.79
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 Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
UK Pound |
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
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.