MIRA
INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
A-ONE
DIAMONDS CO., LTD. |
|
|
|
|
Registered Office : |
Room C, 9a Floor,
Gems Tower Building, 1249/93 Charoenkrung Road,
Suriyawongse, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.07.2008 |
|
|
|
|
Com. Reg. No.: |
0105551076333 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
subject is
engaged in importing
and distributing of
cut diamonds, gemstones
and jewelry products |
|
|
|
|
No. of Employees : |
03 |
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 achieved steady
growth due largely to industrial and agriculture exports - mostly electronics,
agricultural commodities, automobiles and parts, and processed foods. Thailand
is trying to maintain growth by encouraging domestic consumption and public
investment to offset weak exports in 2012. Unemployment, at less than 1% of the
labor force, stands as one of the lowest levels in the world, which puts upward
pressure on wages in some industries. Thailand also attracts nearly 2.5 million
migrant workers from neighboring countries. The Thai government is implementing
a nation-wide 300 baht ($10) per day minimum wage policy and deploying new tax
reforms designed to lower rates on middle-income earners. The Thai economy has
weathered internal and external economic shocks in recent years. The global
economic severely cut Thailand's exports, with most sectors experiencing
double-digit drops. In 2009, the economy contracted 2.3%. However, in 2010,
Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports
rebounded. In late 2011 growth was interrupted by historic flooding in the
industrial areas in Bangkok and its five surrounding provinces, crippling the
manufacturing sector. Industry recovered from the second quarter of 2012 onward
with GDP growth at 5.5% in 2012. The government has approved flood mitigation
projects worth $11.7 billion, which were started in 2012, to prevent similar
economic damage, and an additional $75 billion for infrastructure over the next
seven years with a plan to start in 2013.
|
Source : CIA |
Company name
A-ONE DIAMONDS CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : ROOM
C, 9A FLOOR,
GEMS TOWER BUILDING,
1249/93 CHAROENKRUNG
ROAD, SURIYAWONGSE,
BANGRAK, BANGKOK
10500, THAILAND
TELEPHONE : [66] 2267-4649,
2267-3753
FAX :
[66] 2267-3869
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2008
REGISTRATION
NO. : 0105551076333
TAX
ID NO. : 3033139181
CAPITAL REGISTERED : BHT. 6,000,000
CAPITAL PAID-UP : BHT.
6,000,000
SHAREHOLDER’S PROPORTION : THAI :
51%
INDIAN
: 49%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. AMIT SANKHLA,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 3
LINES
OF BUSINESS : DIAMONDS, GEMSTONES
AND JEWELRY
IMPORTER, 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 July 15,
2008 as a
private limited company under
the registered name
A-ONE DIAMONDS CO.,
LTD., by Thai and
Indian groups, with
the objective in
jewelry trading business.
It currently employs
3 staff.
The
subject’s registered address
is Room C, 9A Floor, Gems
Tower Building, 1249/93
Charoenkrung Rd., Suriyawongse,
Bangrak, Bangkok 10500,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Amit Sankhla |
|
Indian |
31 |
|
Mr. Vikrant Karnawat |
|
Indian |
37 |
|
Mr. Vikas Jain |
|
Indian |
- |
AUTHORIZED PERSON
Any of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Amit Sankhla is
the Managing Director.
He is Indian
nationality with the
age of 31 years
old.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
of cut diamonds,
gemstones and jewelry
products.
PURCHASE
Most
of the products
are imported from
India, Pakistan, Republic
of China and
South Africa, the
remaining is purchased
from local suppliers.
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
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 prime
commercial area.
COMMENT
The
subject had slow
business in the
past several years.
The overall jewelry
industry in domestic
market is likely
grown well since the previous
year, while the
subject’s business is
improving with current moderate sales.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht.
100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 4,000,000
on October 21,
2008
Bht. 6,000,000
on October 11,
2012
The
latest registered capital
was increased to
Bht. 6,000,000 divided
into 60,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
October 9, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Amit Sankhla Nationality: Indian Address : 1249/79
Charoenkrung Rd., Suriyawongse,
Bangrak, Bangkok |
9,800 |
16.33 |
|
Mr. Vikrant Karnawat Nationality: Indian Address : 1249/79
Charoenkrung Rd., Suriyawongse,
Bangrak, Bangkok |
9,800 |
16.33 |
|
Mr. Vikas Jain Nationality: Indian Address : 1249/79
Charoenkrung Rd., Suriyawongse,
Bangrak, Bangkok |
9,800 |
16.33 |
|
Mrs. Monthika Phu-eiam Nationality: Thai Address : 152
Soi Krungthep-Kreetha 17,
Huamark,
Bangkapi, Bangkok |
7,650 |
12.75 |
|
Ms. Sanong Nilprasert Nationality: Thai Address : 411/16
Krungthep-Kreetha Rd.,
Huamark, Bangkapi, Bangkok
|
7,650 |
12.75 |
|
Mrs. Kularb Pannoppa Nationality: Thai Address : 121 Soi
Krungthep-Kreetha 17, Huamark, Bangkapi, Bangkok |
7,650 |
12.75 |
|
Mrs. Chintana Kuadma Nationality: Thai Address : 40/10 Moo
9, Sapansung, Bangkok |
7,650 |
12.76 |
Total Shareholders : 7
Share Structure [as
at October 9,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
30,600 |
51.00 |
|
Foreign - Indian |
3 |
29,400 |
49.00 |
|
Total |
7 |
60,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Srisak Saksongmuang No. 7650
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 |
16,055.75 |
112,546.60 |
68,903.62 |
|
Trade Accounts and
Other Receivable |
4,192,038.65 |
4,092,503.26 |
4,012,870.65 |
|
Inventories |
1,709,872.16 |
1,283,090.56 |
890,096.16 |
|
Other Current Assets
|
178,686.42 |
124,165.69 |
104,021.67 |
|
|
|
|
|
|
Total Current Assets
|
6,096,652.98 |
5,612,306.11 |
5,075,892.10 |
|
Long-term Investment
|
2,790,000.00 |
2,200,000.00 |
2,400,000.00 |
|
Fixed Assets |
21,099.68 |
33,928.64 |
46,713.61 |
|
Other Non-current Assets |
27,000.00 |
27,000.00 |
27,000.00 |
|
Total Assets |
8,934,752.66 |
7,873,234.75 |
7,549,605.71 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
5,319,198.98 |
4,270,202.01 |
3,875,930.76 |
|
Other Current Liabilities |
17,906.35 |
31,499.69 |
18,180.02 |
|
|
|
|
|
|
Total Current Liabilities |
5,337,105.33 |
4,301,701.70 |
3,894,110.78 |
|
Total Liabilities |
5,337,105.33 |
4,301,701.70 |
3,894,110.78 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 40,000 shares |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
|
|
|
|
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning Unappropriated |
[402,352.67] |
[428,466.95] |
[344,505.07] |
|
Total Shareholders' Equity |
3,597,647.33 |
3,571,533.05 |
3,655,494.93 |
|
Total Liabilities & Shareholders' Equity |
8,934,752.66 |
7,873,234.75 |
7,549,605.71 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
12,560,601.96 |
9,241,622.75 |
6,526,366.40 |
|
Other Income |
89,199.46 |
88,555.99 |
70,740.68 |
|
Total Revenues |
12,649,801.42 |
9,330,178.74 |
6,597,107.08 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
11,070,535.80 |
8,343,251.38 |
5,808,605.84 |
|
Selling Expenses |
- |
- |
251,161.00 |
|
Administrative Expenses |
1,552,185.46 |
1,053,966.28 |
626,299.07 |
|
Total Expenses |
12,622,721.26 |
9,397,217.66 |
6,686,065.91 |
|
|
|
|
|
|
Profit/[Loss] before Financial Cost & Income
Tax |
27,080.16 |
[67,038.92] |
[88,958.83] |
|
Financial Costs |
[965.88] |
[1,600.00] |
- |
|
Profit/[Loss] before Income
Tax |
26,114.28 |
[68,638.92] |
[88,958.83] |
|
Income Tax |
- |
[15,322.96] |
[2,876.58] |
|
|
|
|
|
|
Net Profit/[Loss] |
26,114.28 |
[83,961.88] |
[91,835.41] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.14 |
1.30 |
1.30 |
|
QUICK RATIO |
TIMES |
0.79 |
0.98 |
1.05 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
595.30 |
272.38 |
139.71 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.41 |
1.17 |
0.86 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
56.38 |
56.13 |
55.93 |
|
INVENTORY TURNOVER |
TIMES |
6.47 |
6.50 |
6.53 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
121.82 |
161.63 |
224.43 |
|
RECEIVABLES TURNOVER |
TIMES |
3.00 |
2.26 |
1.63 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
175.38 |
186.81 |
243.55 |
|
CASH CONVERSION CYCLE |
DAYS |
2.82 |
30.95 |
36.80 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
88.14 |
90.28 |
89.00 |
|
SELLING & ADMINISTRATION |
% |
12.36 |
11.40 |
13.44 |
|
INTEREST |
% |
0.01 |
0.02 |
- |
|
GROSS PROFIT MARGIN |
% |
12.57 |
10.68 |
12.08 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.22 |
(0.73) |
(1.36) |
|
NET PROFIT MARGIN |
% |
0.21 |
(0.91) |
(1.41) |
|
RETURN ON EQUITY |
% |
0.73 |
(2.35) |
(2.51) |
|
RETURN ON ASSET |
% |
0.29 |
(1.07) |
(1.22) |
|
EARNING PER SHARE |
BAHT |
0.65 |
(2.10) |
(2.30) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.60 |
0.55 |
0.52 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.48 |
1.20 |
1.07 |
|
TIME INTEREST EARNED |
TIMES |
28.04 |
(41.90) |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
35.91 |
41.60 |
|
|
OPERATING PROFIT |
% |
(140.39) |
(24.64) |
|
|
NET PROFIT |
% |
131.10 |
8.57 |
|
|
FIXED ASSETS |
% |
(37.81) |
(27.37) |
|
|
TOTAL ASSETS |
% |
13.48 |
4.29 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 35.91%. Turnover has increased from THB
9,241,622.75 in 2010 to THB 12,560,601.96 in 2011. While net profit has increased
from THB -83,961.88 in 2010 to THB 26,114.28 in 2011. And total assets has
increased from THB 7,873,234.75 in 2010 to THB 8,934,752.66 in 2011.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
12.57 |
Impressive |
Industrial
Average |
9.66 |
|
Net Profit Margin |
0.21 |
Impressive |
Industrial
Average |
(0.20) |
|
Return on Assets |
0.29 |
Impressive |
Industrial
Average |
(0.27) |
|
Return on Equity |
0.73 |
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 12.57%. 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 0.21%, 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
0.29%, 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 0.73%, 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 |
1.14 |
Acceptable |
Industrial
Average |
1.72 |
|
Quick Ratio |
0.79 |
|
|
|
|
Cash Conversion Cycle |
2.82 |
|
|
|
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 1.14 times in 2011, decreased from 1.3 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 0.79 times in 2011,
decreased from 0.98 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 3 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.60 |
Impressive |
Industrial
Average |
0.60 |
|
Debt to Equity Ratio |
1.48 |
Acceptable |
Industrial
Average |
1.67 |
|
Times Interest Earned |
28.04 |
Impressive |
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.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 28.04 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.6 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
595.30 |
Impressive |
Industrial
Average |
10.73 |
|
Total Assets Turnover |
1.41 |
Satisfactory |
Industrial
Average |
1.47 |
|
Inventory Conversion Period |
56.38 |
|
|
|
|
Inventory Turnover |
6.47 |
Impressive |
Industrial
Average |
2.17 |
|
Receivables Conversion Period |
121.82 |
|
|
|
|
Receivables Turnover |
3.00 |
Satisfactory |
Industrial
Average |
3.31 |
|
Payables Conversion Period |
175.38 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.00 and 2.26 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 is 56 days at the end of 2010, the
same figure as in 2011.
Inventory turnover has decreased from 6.5 times in year 2010 to 6.47
times in year 2011.
The company's Total Asset Turnover is calculated as 1.41 times and 1.17 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.
-
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 –
-
Gem & Jewellery Export Promotion Council in its statistical data has
shown the export of polished diamonds to have increase by 28 % in February
2013. Compared to $ 1.4 bn worth of polished diamond export in February, 2012,
India exported $ 1.84 billion worth of polished diamonds in February 2013. A
senior executive of GJEPC said, “Export of cut and polished diamonds started
falling month-wise after the imposition of 2 % of import duty on the polished
diamonds. But February, 2013 has given a new ray of hope to the industry as the
export of polished diamonds has actually increased by 28 %. It means the
industry is on the track of recovery and round tripping of diamonds has
stopped completely.” Demand has started coming from the US, the UK, Japan and
China. India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The banking sector has started exercising restraint while following
prudent risk management norms when lending money to gems and jewellery sector.
This follows the implementation of Basel III accord – a global voluntary
regulatory standard on bank capital adequacy, stress testing and market
liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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.