MIRA
INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CCI AUTOMOTIVE PRODUCTS CO., LTD. |
|
|
|
|
Registered Office : |
Eastern Seaboard Industrial Estate, 25 Moo 4, T. Pluakdaeng, A. Pluakdaeng, Rayong 21140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
15.01.1993 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Automotive Fluid Products |
|
|
|
|
No. of Employees : |
300 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 (31.03.2011) |
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
CCI
AUTOMOTIVE PRODUCTS CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : EASTERN SEABOARD
INDUSTRIAL ESTATE,
25
MOO 4, T. PLUAKDAENG, A. PLUAKDAENG,
RAYONG
21140, THAILAND
TELEPHONE : [66] 38
954-730-2
FAX :
[66] 38
954-733
E-MAIL
ADDRESS : cciauto@loxinfo.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1993
REGISTRATION
NO. : 0105536004815
TAX
ID NO. : 3011219096
CAPITAL REGISTERED : BHT. 104,000,000
CAPITAL PAID-UP : BHT.
104,000,000
SHAREHOLDER’S PROPORTION : JAPANESE
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KIYOSHI KAJIURA,
JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 300
LINES
OF BUSINESS : AUTOMOTIVE FLUID PRODUCTS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on January 15, 1993 as a
private limited company under
the registered name
CCI AUTOMOTIVE PRODUCTS
CO., LTD., by Japanese
groups, with the
business objective to
manufacture various kinds
of automotive fluid products
to domestic and
international markets. It
currently employs approximate
300 staff.
The
subject is a
subsidiary of CCI
Corporation Co., Ltd.,
Japan with held
99.97% of the
subject’s total shares.
The
subject’s registered address
is Eastern Seaboard
Industrial Estate, 25 Moo 4,
T. Pluakdaeng, A. Pluakdaeng, Rayong
21140, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hiroshi Kondo |
|
Japanese |
63 |
|
Mr. Tetsuya Okabe |
[x] |
Japanese |
46 |
|
Mr. Kiyoshi Kajiura |
[x] |
Japanese |
54 |
AUTHORIZED PERSON
Anyone of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Kiyoshi Kajiura is
the Managing Director.
He is Japanese
nationality with the
age of 63
years old.
Mr. Samrit Satornrat is
the Factory Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of automotive fluid products
mainly brake fluid,
brake oil, window
washer, and engine coolant.
PURCHASE
Raw materials; chemical
and components are
purchased from suppliers
both domestic and
overseas, mainly in
Japan, Republic of
China and Germany.
MAJOR
SUPPLIER
CCI
Corporation Co., Ltd. : Japan
SALES
The products are
sold by wholesale
to traders and
end-users both local
and overseas, mainly
in Japan, Korea,
U.S.A., and European
countries.
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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
United
Overseas Bank [Thai]
Public Company Limited
EMPLOYMENT
The
subject employs approximately
300 staff.
LOCATION DETAILS
The
premise is owned for
administrative office, factory
and warehouse at
the heading address.
Premise is located
in industrial area.
Branch
office is located
at 88 Soi
Lasallel 58, Bangna,
Bangkok 10260.
Tel :
[66] 2745-8873 Fax
: [66] 2745-8874.
COMMENT
The
subject operates as a
manufacturer and distributor of automotive
fluid products. Its
product lines are comprehensive,
ranging from brake fluid, brake oil,
engine coolant and etc. Not only passenger cars but
also pick-up trucks, large
commercial buses and trucks are relied on its products.
Automotive industry expansion has
spurred demand of
related products including
fluid products, which are significantly
increased.
FINANCIAL INFORMATION
The
capital was registered at
Bht. 6,000,000 divided
into 6,000 shares
of Bht. 1,000
each with fully
paid.
The
capital was increased
later as follows:
Bht. 8,000,000 on June 3,
1998
Bht. 104,000,000 on May 27, 2005
The latest
registered capital was increased
to Bht. 104,000,000 divided
into 104,000 shares of
Bht. 1,000 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
CCI Corporation Co.,
Ltd. Nationality: Japanese Address : 12
Shinhasama, Seki, Gifu,
Japan |
103,973 |
99.97 |
|
Mr. Suji Okabe Nationality: Japanese Address : 3-50
Zohara Shuo-sho, Kakamigahara City, Gifu, Japan |
22 |
0.02 |
|
CCI Corporation UK
Limited Nationality: British Address : 66
Collage Road, England |
1 |
|
|
CCI Manufacturing IL
Corporation Nationality: American Address : Illinois,
U.S.A. |
1 |
|
|
CCI U.S.A. Corporation Nationality: American Address : 1209
Orange Street, Wilmington,
Delaware, U.S.A. |
1 |
= 0.01 |
|
CCI North America
Corporation Nationality: American Address : 1209
Orange Street, Wilmington,
Delaware, U.S.A. |
1 |
|
|
CCI TW Corporation
Co., Ltd. Nationality: Taiwanese Address : Taiwan |
1 |
|
Total Shareholders : 7
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
7 |
104,000 |
100.00 |
|
Total |
7 |
104,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sathit Uraiverojanakorn No. 6385
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 |
889,947,668.97 |
812,543,490.65 |
714,610,770.80 |
|
Trade Accounts Receivable
|
112,811,466.82 |
124,801,427.82 |
89,970,850.13 |
|
Related Company Receivable |
4,473,078.93 |
1,049,323.22 |
11,253,423.51 |
|
Inventories |
74,636,671.76 |
71,850,033.59 |
60,283,546.76 |
|
Other Current Assets
|
14,148,654.83 |
2,850,519.74 |
1,448,965.88 |
|
|
|
|
|
|
Total Current Assets
|
1,096,017,541.31 |
1,013,094,795.02 |
877,567,557.08 |
|
|
|
|
|
|
Fixed Assets |
20,937,229.74 |
21,592,596.14 |
23,343,508.58 |
|
Other Non - current Assets |
275,730.00 |
255,730.00 |
255,730.00 |
|
Total Assets |
1,117,230,501.05 |
1,034,943,121.16 |
901,166,795.66 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts Payable
|
56,061,070.31 |
79,293,284.28 |
66,907,820.83 |
|
Related Company Payable |
94,529,249.02 |
101,854,003.36 |
79,936,411.44 |
|
Accrued Income Tax |
22,963,059.48 |
19,854,947.20 |
30,275,171.90 |
|
Other Current Liabilities |
1,611,656.59 |
1,575,763.95 |
973,656.63 |
|
|
|
|
|
|
Total Current Liabilities |
175,165,035.40 |
202,577,998.79 |
178,093,060.80 |
|
Total Liabilities |
175,165,035.40 |
202,577,998.79 |
178,093,060.80 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 104,000 shares |
104,000,000.00 |
104,000,000.00 |
104,000,000.00 |
|
|
|
|
|
|
Capital Paid |
32,000,000.00 |
32,000,000.00 |
32,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
800,000.00 |
800,000.00 |
800,000.00 |
|
Unappropriated |
909,265,465.65 |
799,565,122.37 |
690,273,734.86 |
|
Total Shareholders' Equity |
942,065,465.65 |
832,365,122.37 |
723,073,734.86 |
|
Total Liabilities & Shareholders' Equity |
1,117,230,501.05 |
1,034,943,121.16 |
901,166,795.66 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
990,534,380.79 |
926,580,229.68 |
739,950,218.57 |
|
Gain on Exchange Rate |
12,859,867.32 |
5,585,770.60 |
- |
|
Interest Income |
9,092,071.42 |
- |
8,213,682.20 |
|
Other Income |
2,198,714.93 |
1,003,717.72 |
1,097,231.69 |
|
Total Revenues |
1,014,685,034.46 |
933,169,718.00 |
749,261,132.46 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
775,918,513.70 |
672,686,873.59 |
498,353,624.99 |
|
Selling Expenses |
47,198,264.99 |
42,163,314.39 |
11,408,198.37 |
|
Administrative Expenses |
34,641,690.56 |
34,450,086.38 |
52,581,103.90 |
|
Loss on Exchange Rate |
- |
27,663,768.92 |
4,387,066.58 |
|
Total Expenses |
857,758,469.25 |
776,964,043.28 |
566,729,993.84 |
|
Profit before Income
Tax |
156,926,565.21 |
156,205,674.72 |
182,531,138.62 |
|
Income Tax |
[47,226,221.93] |
[46,914,287.21] |
[54,839,275.17] |
|
|
|
|
|
|
Net Profit / [Loss] |
109,700,343.28 |
109,291,387.51 |
127,691,863.45 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
6.26 |
5.00 |
4.93 |
|
QUICK RATIO |
TIMES |
5.75 |
4.63 |
4.58 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
47.31 |
42.91 |
31.70 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.89 |
0.90 |
0.82 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
35.11 |
38.99 |
44.15 |
|
INVENTORY TURNOVER |
TIMES |
10.40 |
9.36 |
8.27 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
41.57 |
49.16 |
44.38 |
|
RECEIVABLES TURNOVER |
TIMES |
8.78 |
7.42 |
8.22 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
26.37 |
43.02 |
49.00 |
|
CASH CONVERSION CYCLE |
DAYS |
50.31 |
45.12 |
39.53 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.33 |
72.60 |
67.35 |
|
SELLING & ADMINISTRATION |
% |
8.26 |
8.27 |
8.65 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
24.10 |
28.11 |
33.91 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
15.84 |
16.86 |
24.67 |
|
NET PROFIT MARGIN |
% |
11.07 |
11.80 |
17.26 |
|
RETURN ON EQUITY |
% |
11.64 |
13.13 |
17.66 |
|
RETURN ON ASSET |
% |
9.82 |
10.56 |
14.17 |
|
EARNING PER SHARE |
BAHT |
3,428.14 |
3,415.36 |
3,990.37 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.16 |
0.20 |
0.20 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.19 |
0.24 |
0.25 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.90 |
25.22 |
|
|
OPERATING PROFIT |
% |
0.46 |
(14.42) |
|
|
NET PROFIT |
% |
0.37 |
(14.41) |
|
|
FIXED ASSETS |
% |
(3.04) |
(7.50) |
|
|
TOTAL ASSETS |
% |
7.95 |
14.84 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 6.9%. Turnover has increased from THB
926,580,229.68 in 2010 to THB 990,534,380.79 in 2011. While net profit has increased
from THB 109,291,387.51 in 2010 to THB 109,700,343.28 in 2011. And total assets
has increased from THB 1,034,943,121.16 in 2010 to THB 1,117,230,501.05 in
2011.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
24.10 |
Impressive |
Industrial
Average |
4.16 |
|
Net Profit Margin |
11.07 |
Impressive |
Industrial
Average |
0.52 |
|
Return on Assets |
9.82 |
Impressive |
Industrial
Average |
4.63 |
|
Return on Equity |
11.64 |
Satisfactory |
Industrial
Average |
12.34 |
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 24.1%. 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 11.07%
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 9.82%, 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. When compared with the
industry average, it was lower, the company's figure is 11.64%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
6.26 |
Impressive |
Industrial
Average |
1.40 |
|
Quick Ratio |
5.75 |
|
|
|
|
Cash Conversion Cycle |
50.31 |
|
|
|
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 6.26 times in 2011, increased from 5 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 5.75 times in 2011,
increased from 4.63 times, although excluding inventory so the company still
have good short-term financial strength.
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 51 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.16 |
Impressive |
Industrial
Average |
0.55 |
|
Debt to Equity Ratio |
0.19 |
Impressive |
Industrial
Average |
1.41 |
|
Times Interest Earned |
- |
|
Industrial
Average |
2.70 |
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 0.16 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
47.31 |
Impressive |
Industrial
Average |
23.90 |
|
Total Assets Turnover |
0.89 |
Deteriorated |
Industrial
Average |
8.17 |
|
Inventory Conversion Period |
35.11 |
|
|
|
|
Inventory Turnover |
10.40 |
Deteriorated |
Industrial
Average |
55.83 |
|
Receivables Conversion Period |
41.57 |
|
|
|
|
Receivables Turnover |
8.78 |
Acceptable |
Industrial
Average |
17.15 |
|
Payables Conversion Period |
26.37 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.78 and 7.42 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 decreased from 39 days at the
end of 2010 to 35 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 9.36 times in year 2010 to 10.4 times
in year 2011.
The company's Total Asset Turnover is calculated as 0.89 times and 0.9
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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.