MIRA INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
PACIFIC
COLOR CO., LTD. |
|
|
|
|
Registered Office : |
169, 171 Moo 1, Petchkasem Road, T. Yaicha, A. Sampran, Nakornphathom 73110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
05.03.1998 |
|
|
|
|
Com. Reg. No.: |
0105541014611 |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
manufacturing and
distributing wide range
of masterbatches, dry
colorant and compounds
for plastic industry.
|
|
|
|
|
No. of Employees : |
150 |
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 : |
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
PACIFIC COLOR CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 169, 171 MOO
1, PETCHKASEM ROAD,
T. YAICHA,
A.
SAMPRAN, NAKORNPHATHOM 73110
TELEPHONE : [66] 34
225-641-2
FAX :
[66] 34
321-597
E-MAIL
ADDRESS : pc_color_th@yahoo.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1998
REGISTRATION
NO. : 0105541014611
TAX
ID NO. : 3011927694
CAPITAL REGISTERED : BHT. 9,000,000
CAPITAL PAID-UP : BHT.
9,000,000
SHAREHOLDER’S PROPORTION : THAI :
70%
SWEDISH :
30%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. NORACHAI PONGSACHARN,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 150
LINES
OF BUSINESS : MASTER BATCHES, DRY
COLORANT AND
COMPOUNDS
MANUFACTURER AND
DISTRIBUTOR
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 March 5, 1998 as
a private limited
company under the registered
name PACIFIC COLOR
CO., LTD., by
Thai and Swedish groups,
with the business
objective to manufacture
and distribute wide
range of masterbatches, dry
colorant and compounds
for plastic industry.
It currently employs
approximate 150 staff.
The
subject’s registered address
is 169, 171 Moo 1, Petchkasem
Rd., T. Yaicha, A. Sampran,
Nakornphathom 73110, and
this is the
subject’s current operation
address.
THE BOARD OF
DIRECTOR
Mr. Norachai Pongsacharn [Poramatviroj]
Note.
Mr. Norachai changed
his last name
from “Poramatviroj” to
“Pongsacharn”
on July 9,
2007.
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Norachai Pongsacharn
is the Managing
Director.
He is Thai
nationality with the
age of 53
years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing and distributing
wide range of
masterbatches, dry colorant
and compounds for
plastic industry. Range
of products are
as follows:
·
Color Masterbatches
Applications : Film
resin [PE/ PP]
Applications : Blow
molding resin [PE/ PP/
PVC/ PET]
Applications : Profile and
sheet extrusion resin
[PE/ PP/ PVC/ PET/ ABS]
Applications : Injection molding
resin [PE/ PP/ PVC/ ABS]
and engineering
plastic
Applications : Monofilament resin
[Polyolefin]
Applications : Multifilament [fiber] resin
[Polyolefins/ PET/ PA]
Applications : Foaming resin
[EVA/ PE]
Applications : Wire
and cable resin
[PE/ PVC]
- Dry
Colorants
Applications : Blow
molding resin [PE/
PP/ PVC/ PET]
Applications : Rotation molding
resin [PE]
Applications : Profile extrusion
resin [PE/ PP/ PVC]
Applications : Injection molding
resin [Polyolefins] and
engineering plastic
- Color
Compound
Applications : Polyolefins and
engineering plastic
- Specialty
Additives Masterbatch
Its
product includes anti-blocking, slip
agent, anti-static, UV-stabilizers, impact
modify, optical brightening
nucleating agents, anti-humidity, anti-microbial, flame
retardant, cleaning compound
and biodegradable
- Highly
Concentrated
Single
Pigment Dispersion [SPD]
PURCHASE
Raw
materials are purchased
from suppliers both
domestic and overseas,
mainly in Republic
of China, Taiwan,
Japan and India.
SALES
100% of the
products is sold
locally by wholesale
to 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
L/C at sight
or T/T.
BANKING
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject currently employs
approximately 150 staff.
LOCATION
DETAILS
The
premise is owned for
administrative office, factory
and warehouse at the heading
address. Premise is
located in provincial,
on the outskirts of
Bangkok.
Branch
office is located
at 179 Moo 1, Petchkasem
Rd., T. Yaicha, A. Sampran,
Nakornphathom 73110.
COMMENT
The
subject is a
manufacturer and distributor
of master batches, dry
colorant and compounds
for domestic plastic industry.
The subject’s operating
performance in 2011
was moderate. There
is a demand
of the products
and service from
local industry which
contributes to the
subject’s moderate sales
income. Its business
is expanding considerably.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht.
100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 5,000,000
on July 20,
2001
Bht. 9,000,000
on May 8, 2002
The
latest registered capital
was increased to
Bht. 9,000,000 divided
into 90,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 1, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Norachai Pongsacharn Nationality: Thai Address : 30/26
Moo 5, Laksong,
Bangkae, Bangkok |
36,000 |
40.00 |
|
Mr. Peter Jurgensen Nationality: Swedish Address : 1285/24 Soi
Vachirathamsathit 57,
Bangchak, Prakanong, Bangkok
|
27,000 |
30.00 |
|
Ms. Chittima Ungpanich Nationality: Thai Address : 1285/24
Soi Vachirathamsathit 57,
Bangchak, Prakanong, Bangkok
|
18,000 |
20.00 |
|
Mrs. Amornrat Pongsacharn Nationality: Thai Address : 30/26
Moo 5, Laksong,
Bangkae, Bangkok |
7,200 |
8.00 |
|
Ms. Wanna Pipatkijja Nationality: Thai Address : 396
Soi Charoennakorn 46,
Banglamphulang, Klongsan, Bangkok
|
900 |
1.00 |
|
Mr. Ekasit Kaewchinda Nationality: Thai Address : 12
Soi Petchkasem 10/7,
Hadyai, Songkhla |
450 |
0.50 |
|
Mr. Viroj Ruengrith Nationality: Thai Address : 122/98
Moo 4, T. Taluang,
A. Sattahip, Chonburi |
450 |
0.50 |
Total Shareholders : 7
Share Structure [as
at April 1,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
63,000 |
70.00 |
|
Foreign-Swedish |
1 |
27,000 |
30.00 |
|
Total |
7 |
90,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Manee Pornchaivijit No.
4679
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
390,554.97 |
2,141,544.08 |
1,212,075.24 |
|
Trade Accounts and Other
Receivable |
14,157,057.94 |
11,695,473.99 |
11,585,542.83 |
|
Inventories |
28,561,196.01 |
20,915,116.42 |
20,529,637.71 |
|
Other Current Assets
|
1,159,514.79 |
182,331.98 |
182,692.82 |
|
|
|
|
|
|
Total Current Assets
|
44,268,323.71 |
34,934,466.47 |
33,509,948.60 |
|
Cash at Bank pledged as
a Collateral |
- |
- |
882,993.65 |
|
Fixed Assets |
19,279,473.75 |
20,640,555.44 |
18,478,561.26 |
|
Other Non - current Assets |
1,810,592.87 |
1,871,235.94 |
1,843,551.58 |
|
Total Assets |
65,358,390.33 |
57,446,257.85 |
54,715,055.09 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts and
Other Payable |
4,778,000.77 |
3,743,456.54 |
2,382,206.03 |
|
Current Portion of
Lease Contract Liabilities |
- |
- |
329,790.11 |
|
Sale Department Payable |
- |
- |
399,604.95 |
|
Accrued Income Tax |
2,977,130.07 |
850,621.89 |
- |
|
Other Current Liabilities |
310,893.76 |
329,897.64 |
1,371,206.27 |
|
|
|
|
|
|
Total Current Liabilities |
8,066,024.60 |
4,923,976.07 |
4,482,807.36 |
|
Long-term Loan from Financial Institutions |
808,739.38 |
2,661,689.16 |
4,374,016.56 |
|
Loan from Related Company |
7,467,171.55 |
13,316,031.55 |
12,168,031.55 |
|
Total Liabilities |
16,341,935.53 |
20,901,696.78 |
21,024,855.47 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 90,000 shares |
9,000,000.00 |
9,000,000.00 |
9,000,000.00 |
|
|
|
|
|
|
Capital Paid |
9,000,000.00 |
9,000,000.00 |
9,000,000.00 |
|
Retained Earning Unappropriated |
40,016,454.80 |
27,544,561.07 |
24,690,199.62 |
|
Total Shareholders' Equity |
49,016,454.80 |
36,544,561.07 |
33,690,199.62 |
|
Total Liabilities &
Shareholders' Equity |
65,358,390.33 |
57,446,257.85 |
54,715,055.09 |
PROFIT & LOSS
ACCOUNT
|
Sale |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
118,108,498.54 |
87,186,625.69 |
73,572,998.50 |
|
Interest Income |
- |
- |
7,584.57 |
|
Other Income |
880,573.48 |
551,731.93 |
812,162.20 |
|
Total Sales |
118,989,072.02 |
87,738,357.62 |
74,392,745.27 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
77,015,067.89 |
62,645,269.20 |
53,121,827.55 |
|
Selling Expenses |
7,375,927.95 |
4,519,167.53 |
3,421,433.98 |
|
Administrative Expenses |
18,111,865.12 |
15,942,326.86 |
15,004,063.15 |
|
Total Expenses |
102,502,860.96 |
83,106,763.59 |
71,547,324.68 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
16,486,211.06 |
4,631,594.03 |
2,845,420.59 |
|
Financial Costs |
[248,446.64] |
[400,762.20] |
[297,109.80] |
|
Profit / [Loss] before Income
Tax |
16,237,764.42 |
4,230,831.83 |
2,548,310.79 |
|
Income Tax |
[3,765,870.69] |
[1,376,470.38] |
[839,252.87] |
|
|
|
|
|
|
Net Profit / [Loss] |
12,471,893.73 |
2,854,361.45 |
1,709,057.92 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.49 |
7.09 |
7.48 |
|
QUICK RATIO |
TIMES |
1.80 |
2.81 |
2.85 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.13 |
4.22 |
3.98 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.81 |
1.52 |
1.34 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
135.36 |
121.86 |
141.06 |
|
INVENTORY TURNOVER |
TIMES |
2.70 |
3.00 |
2.59 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
43.75 |
48.96 |
57.48 |
|
RECEIVABLES TURNOVER |
TIMES |
8.34 |
7.45 |
6.35 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
22.64 |
21.81 |
16.37 |
|
CASH CONVERSION CYCLE |
DAYS |
156.47 |
149.01 |
182.17 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
65.21 |
71.85 |
72.20 |
|
SELLING & ADMINISTRATION |
% |
21.58 |
23.47 |
25.04 |
|
INTEREST |
% |
0.21 |
0.46 |
0.40 |
|
GROSS PROFIT MARGIN |
% |
35.54 |
28.78 |
28.91 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
13.96 |
5.31 |
3.87 |
|
NET PROFIT MARGIN |
% |
10.56 |
3.27 |
2.32 |
|
RETURN ON EQUITY |
% |
25.44 |
7.81 |
5.07 |
|
RETURN ON ASSET |
% |
19.08 |
4.97 |
3.12 |
|
EARNING PER SHARE |
BAHT |
138.58 |
31.72 |
18.99 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.25 |
0.36 |
0.38 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.33 |
0.57 |
0.62 |
|
TIME INTEREST EARNED |
TIMES |
66.36 |
11.56 |
9.58 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
35.47 |
18.50 |
|
|
OPERATING PROFIT |
% |
255.95 |
62.77 |
|
|
NET PROFIT |
% |
336.94 |
67.01 |
|
|
FIXED ASSETS |
% |
(6.59) |
11.70 |
|
|
TOTAL ASSETS |
% |
13.77 |
4.99 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 35.47%. Turnover has increased from THB 87,186,625.69
in 2011 to THB 118,108,498.54 in 2012. While net profit has increased from THB
2,854,361.45 in 2011 to THB 12,471,893.73 in 2012. And total assets has
increased from THB 57,446,257.85 in 2011 to THB 65,358,390.33 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
35.54 |
Impressive |
Industrial
Average |
18.86 |
|
Net Profit Margin |
10.56 |
Impressive |
Industrial
Average |
3.94 |
|
Return on Assets |
19.08 |
Impressive |
Industrial
Average |
4.82 |
|
Return on Equity |
25.44 |
Impressive |
Industrial
Average |
10.54 |
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 35.54%. 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 10.56%
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
19.08%, 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 25.44%, 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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
5.49 |
Impressive |
Industrial
Average |
1.66 |
|
Quick Ratio |
1.80 |
|
|
|
|
Cash Conversion Cycle |
156.47 |
|
|
|
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 5.49 times in 2012, decreased from 7.09 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 1.8 times in 2012,
decreased from 2.81 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 157 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.25 |
Impressive |
Industrial
Average |
0.52 |
|
Debt to Equity Ratio |
0.33 |
Impressive |
Industrial
Average |
1.05 |
|
Times Interest Earned |
66.36 |
Impressive |
Industrial
Average |
7.29 |
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 66.36 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 0.25 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
6.13 |
Impressive |
Industrial
Average |
3.96 |
|
Total Assets Turnover |
1.81 |
Impressive |
Industrial
Average |
1.21 |
|
Inventory Conversion Period |
135.36 |
|
|
|
|
Inventory Turnover |
2.70 |
Acceptable |
Industrial
Average |
4.69 |
|
Receivables Conversion Period |
43.75 |
|
|
|
|
Receivables Turnover |
8.34 |
Impressive |
Industrial
Average |
3.03 |
|
Payables Conversion Period |
22.64 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.34 and 7.45 in
2012 and 2011 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 2012
increased from 2011. 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 122 days at the
end of 2011 to 135 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 3 times in year 2011 to 2.7 times in
year 2012.
The company's Total Asset Turnover is calculated as 1.81 times and 1.52
times in 2012 and 2011 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 |
|
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.