MIRA INFORM REPORT
|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
OSKAR
HERZEL [THAILAND] CO.,
LTD. |
|
|
|
|
Registered Office : |
15th Floor, Sathorn Thani Building 1, 90/40-41 North Sathorn Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
14.05.2004 |
|
|
|
|
Com. Reg. No.: |
0105547065861 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
subject is
engaged in importing
and distributing of
gemstones, including sapphire,
emerald, ruby and pearls
for jewelry business |
|
|
|
|
No. of Employees : |
02 |
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 : |
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
OSKAR HERZEL [THAILAND] CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 15th FLOOR,
SATHORN THANI BUILDING
1,
90/40-41 NORTH
SATHORN ROAD, SILOM,
BANGRAK, BANGKOK
10500, THAILAND
TELEPHONE : [66] 2610-3137,
081 824-1273
FAX :
[66] 2610-1401
E-MAIL
ADDRESS : oskar.herzel@t-online.de
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2004
REGISTRATION
NO. : 0105547065861
TAX
ID NO. : 3031364530
CAPITAL REGISTERED : BHT. 2,000,000
CAPITAL PAID-UP : BHT.
2,000,000
SHAREHOLDER’S PROPORTION : THAI :
51%
GERMAN : 49%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. JORG MARTIN
HERZEL, GERMAN
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : GEMSTONES AND
PEARLS
IMPORTER AND
DISTRIBUTOR
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 14,
2004 as a
private limited company
by Thai and
German groups, under
the registered name
OSKAR HERZEL [THAILAND]
CO., LTD., with
the business objective
to import and distribute
gemstones and pearls
for jewelry industry.
It currently employs
2 staff.
The
subject’s registered address
is 15th Floor,
Sathorn Thani Building
1, 90/40-41 North
Sathorn Road, Silom,
Bangrak, Bangkok 10500,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Jorg Martin Herzel |
|
German |
53 |
|
Ms. Rujirat Oun-okphan |
|
Thai |
39 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Jorg Martin Herzel
is the Managing
Director.
He is German
nationality with the
age of 53
years old.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
of gemstones, including
sapphire, emerald, ruby and
pearls for jewelry
business.
PURCHASE
It
products are purchased
from suppliers both
domestic and overseas,
mainly in Germany and
India.
SALES
100% of the
products is sold
locally to wholesalers,
manufacturers and end-users.
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
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.
BANKING
The subject was
not disclosed its
banker’s name.
EMPLOYMENT
The
subject currently employs
2 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
The
subject is a small
distributor of gemstones
and pearl. The products
have been served to
small jewelry business
in local market.
Sales were reported
at low level,
while its current
business is fair.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht.
100 each with
fully paid.
On
July 30, 2008,
the registered capital
was increased to
Bht. 2,000,000 divided
into 20,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 29, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Jorg Martin Herzel Nationality: German Address : Auf
Demberg, Pforzheim 75181,
Germany |
9,800 |
49.00 |
|
Ms. Rujirat Oun-okphan Nationality: Thai Address : 147
Soi Tivanont 43,
Thasai, Muang,
Nonthaburi |
5,000 |
25.00 |
|
Mrs. Kanchana Boonporn Nationality: Thai Address : 4077
Moo 1, Samrongnua,
Muang,
Samutprakarn |
3,194 |
15.97 |
|
Mr. Nimit Boonporn Nationality: Thai Address : 4077
Moo 1, Samrongnua,
Muang,
Samutprakarn |
2,000 |
10.00 |
|
Mr. Vichai Thongkaew Nationality: Thai Address : 66
Moo 8, Sila,
Muang, Khon Kaen
|
2 |
0.01 |
|
Mr. Somchai Polsuwan Nationality: Thai Address : 66
Moo 1, Laopattana,
Nawa,
Nakornpanom |
2 |
0.01 |
|
Mr. Sanong Nilpitak Nationality: Thai Address : 32/1
Moo 7, Hantra,
Phranakorn
Sriayutthaya, Ayuthaya |
2 |
0.01 |
Total Shareholders : 7
Share Structure [as
at April 29,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
10,200 |
51.00 |
|
Foreign-German |
1 |
9,800 |
49.00 |
|
Total |
7 |
20,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sahas Prairatanakorn No.
3105
BALANCE SHEET [BAHT]
The latest financial figures published as at December 31, 2011, 2010 & 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
62,632.40 |
68,238.66 |
78,880.30 |
|
Trade Accounts and
Other Receivable |
5,510,193.65 |
4,631,840.64 |
4,988,217.18 |
|
Inventories |
1,569,976.99 |
812,756.94 |
839,086.76 |
|
Other Current Assets
|
17,365.67 |
50,761.81 |
79,684.85 |
|
|
|
|
|
|
Total Current Assets
|
7,160,168.71 |
5,563,598.05 |
5,985,869.09 |
|
|
|
|
|
|
Fixed Assets |
3,719.33 |
6,994.25 |
17,153.25 |
|
Total Assets |
7,163,888.04 |
5,570,592.30 |
6,003,022.34 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
6,668,366.33 |
5,289,503.42 |
5,130,009.77 |
|
Short-term Loan from Related Person |
- |
- |
137,100.00 |
|
Other Current Liabilities |
- |
- |
159,014.46 |
|
|
|
|
|
|
Total Current Liabilities |
6,668,366.33 |
5,289,503.42 |
5,426,124.23 |
|
Total Liabilities |
6,668,366.33 |
5,289,503.42 |
5,426,124.23 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 20,000 shares |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
|
|
|
|
|
Capital Paid |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Retained Earning Unappropriated |
[1,504,478.29] |
[1,718,911.12] |
[1,423,101.89] |
|
Total Shareholders' Equity |
495,521.71 |
281,088.88 |
576,898.11 |
|
Total Liabilities & Shareholders' Equity |
7,163,888.04 |
5,570,592.30 |
6,003,022.34 |
PROFIT & LOSS
ACCOUNT
|
Sale |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
3,618,154.13 |
6,000,579.52 |
3,963,473.13 |
|
Other Income |
255,494.03 |
22,043.00 |
- |
|
Total Sales |
3,873,648.16 |
6,022,622.52 |
3,963,473.13 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
2,942,032.27 |
5,159,121.61 |
3,350,892.93 |
|
Selling Expenses |
142,687.65 |
195,977.25 |
147,629.12 |
|
Administrative Expenses |
574,495.41 |
963,332.89 |
1,059,549.44 |
|
Total Expenses |
3,659,215.33 |
6,318,431.75 |
4,558,071.49 |
|
|
|
|
|
|
Net Profit / [Loss] |
214,432.83
|
[295,809.23] |
[594,598.36] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.07 |
1.05 |
1.10 |
|
QUICK RATIO |
TIMES |
0.84 |
0.89 |
0.93 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
972.80 |
857.93 |
231.06 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.51 |
1.08 |
0.66 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
194.78 |
57.50 |
91.40 |
|
INVENTORY TURNOVER |
TIMES |
1.87 |
6.35 |
3.99 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
555.87 |
281.74 |
459.37 |
|
RECEIVABLES TURNOVER |
TIMES |
0.66 |
1.30 |
0.79 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
827.30 |
374.22 |
558.79 |
|
CASH CONVERSION CYCLE |
DAYS |
(76.66) |
(34.98) |
(8.02) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
81.31 |
85.98 |
84.54 |
|
SELLING & ADMINISTRATION |
% |
19.82 |
19.32 |
30.46 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
25.75 |
14.39 |
15.46 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
5.93 |
(4.93) |
(15.00) |
|
NET PROFIT MARGIN |
% |
5.93 |
(4.93) |
(15.00) |
|
RETURN ON EQUITY |
% |
43.27 |
(105.24) |
(103.07) |
|
RETURN ON ASSET |
% |
2.99 |
(5.31) |
(9.90) |
|
EARNING PER SHARE |
BAHT |
10.72 |
(14.79) |
(29.73) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.93 |
0.95 |
0.90 |
|
DEBT TO EQUITY RATIO |
TIMES |
13.46 |
18.82 |
9.41 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(39.70) |
51.40 |
|
|
OPERATING PROFIT |
% |
(172.49) |
(50.25) |
|
|
NET PROFIT |
% |
172.49 |
50.25 |
|
|
FIXED ASSETS |
% |
(46.82) |
(59.22) |
|
|
TOTAL ASSETS |
% |
28.60 |
(7.20) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -39.7%. Turnover has decreased from THB
6,000,579.52 in 2010 to THB 3,618,154.13 in 2011. While net profit has increased
from THB -295,809.23 in 2010 to THB 214,432.83 in 2011. And total assets has
increased from THB 5,570,592.30 in 2010 to THB 7,163,888.04 in 2011.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
25.75 |
Impressive |
Industrial Average |
9.66 |
|
Net Profit Margin |
5.93 |
Impressive |
Industrial Average |
(0.20) |
|
Return on Assets |
2.99 |
Impressive |
Industrial Average |
(0.27) |
|
Return on Equity |
43.27 |
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 sales 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 25.75%. When
compared with the industry average, the ratio of the company was higher,
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 5.93% 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
2.99%, 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.
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 43.27%, 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.
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 |
1.07 |
Acceptable |
Industrial Average |
1.72 |
|
Quick Ratio |
0.84 |
|
|
|
|
Cash Conversion Cycle |
(76.66) |
|
|
|
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 1.07 times in 2011, increased from 1.05 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 0.84 times in 2011,
decreased from 0.89 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 -77 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.93 |
Acceptable |
Industrial Average |
0.60 |
|
Debt to Equity Ratio |
13.46 |
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 0.93 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
972.80 |
Impressive |
Industrial Average |
10.73 |
|
Total Assets Turnover |
0.51 |
Deteriorated |
Industrial Average |
1.47 |
|
Inventory Conversion Period |
194.78 |
|
|
|
|
Inventory Turnover |
1.87 |
Satisfactory |
Industrial Average |
2.17 |
|
Receivables Conversion Period |
555.87 |
|
|
|
|
Receivables Turnover |
0.66 |
Deteriorated |
Industrial Average |
3.31 |
|
Payables Conversion Period |
827.30 |
|
|
|
The company's Account Receivable Ratio is calculated as 0.66 and 1.30 in
2011 and 2010 respectively. This ratio measures the efficiency of the company in
managing its trade debtors to generate sale. 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 increased from 58 days at the
end of 2010 to 195 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 6.35 times in year 2010 to 1.87 times
in year 2011.
The company's Total Asset Turnover is calculated as 0.51 times and 1.08
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.54.63 |
|
UK Pound |
1 |
Rs.83.70 |
|
Euro |
1 |
Rs.71.42 |
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.