MIRA
INFORM REPORT
|
Report Date : |
02.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALLURE JEWELLERY MFG CO., LTD. |
|
|
|
|
Registered Office : |
24 Soi Mahaesak
3, Mahaesak Road,
Suriyawongse, Bangrak, Bangkok
10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
08.01.2003 |
|
|
|
|
Com. Reg. No.: |
0105546002921 [Former :
10154600047] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Jewelry Products |
|
|
|
|
No. of Employees : |
50 |
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 – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
ALLURE JEWELLERY MFG CO., LTD.
SUMMARY
BUSINESS ADDRESS : 24 SOI MAHAESAK
3, MAHAESAK ROAD,
SURIYAWONGSE, BANGRAK,
BANGKOK 10500
TELEPHONE : [66] 2635-7301-8
FAX : [66] 2635-7309
E-MAIL ADDRESS : info@allure-jewels.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2003
REGISTRATION NO. : 0105546002921 [Former
: 10154600047]
TAX ID NO. : 3030814678
CAPITAL REGISTERED : BHT.
20,000,000
CAPITAL PAID-UP : BHT.
20,000,000
SHAREHOLDER’S PROPORTION : INDIAN
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS. REENU JIAN,
INDIAN
MANAGING DIRECTOR
NO. OF STAFF : 50
LINES OF BUSINESS : JEWELRY PRODUCTS
MANUFACTURER AND
EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was established
on January 8, 2003 as
a private limited
company under the name
style ALLURE JEWELLERY MFG CO.,
LTD., by Indian groups, to
manufacture and export
jewelry products to
overseas markets. It
currently employs
approximately 50 staff.
The subject is
one of the
leading creators of
fine designer jewellery
in Thailand.
The subject’s registered
address was initially
located at 1249/91
Gems Tower Bldg.,
Charoenkrung Rd., Suriyawongse,
Bangrak, Bangkok 10500.
In 2004, the subject’s registered
address was relocated
to 24 Soi
Mahaesak 3, Mahaesak Rd.,
Suriyawongse, Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Reenu Jian |
|
Indian |
42 |
|
Mr. Ajay Jian |
|
Indian |
48 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mrs. Reenu Jian is
the Managing Director.
She is Indian
nationality with the
age of 42 years
old.
Mr. Ajay Jian is
the Assistant Managing
Director.
He is Indian
nationality with the
age of 48 years
old.
BUSINESS OPERATIONS
The subject is
engaged in design,
manufacturing, servicing and
exporting wide range
of gold and
diamond jewelry products, with
different size and
cutting of diamonds.
The products are
diamond earring with
emerald and 18k
gold, diamond earring
with sapphire and
18k gold, diamond
earring with 18k
white gold, flower
diamond ring, 18k white
gold diamond ring,
18k white gold
flower diamond ring,
as well as
bracelet, necklace, pendant,
bangle and etc.,
according to customer’s
requirement.
PURCHASE
100% of raw materials such as
diamond, precious stones,
gold, pearl, silver and accessories
are purchased from
local suppliers.
EXPORT
100% of the products
is exported to
India, Hong Kong, Japan,
United States of America,
Canada, Republic of
China, Australia, Europe
and Middle East
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
according to IRICO’S
DATABASE 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 50 office
staff and goldsmiths.
LOCATION DETAILS
The premise is
rented for administrative office
and factory at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
The subject has expanded to
become an international leader in gem and jewelry business with well reputation in providing high quality products with precious materials
and detailed craftsmanship. It produces medium to high-end products with
sophisticated design and technology. All
of the
products have been marketed in
overseas countries.
Despite current world
economic slowdown has
declined subject’s sales, especially order
from USA and EU markets, its
business outlook is
moderate.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 2,000,000 divided into
20,000 shares of
Bht. 100 each.
The capital was
increased later as follows:
Bht. 4,000,000
on May 9,
2003
Bht. 12,000,000
on January 12,
2007
Bht. 20,000,000
on January 10,
2011
The latest registered
capital was increased
to Bht. 20,000,000 divided
into 200,000 shares of
Bht. 100 each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Reenu Jian Nationality: Indian Address : 24
Soi Mahaesak 3,
Mahaesak Rd.,
Suriyawongse, Bangrak, Bangkok |
80,000 |
40.00 |
|
Mr. Ajay Jian Nationality: Indian Address : 24
Soi Mahaesak 3,
Mahaesak Rd.,
Suriyawongse, Bangrak, Bangkok
|
80,000 |
40.00 |
|
Ms. Achana Jian Nationality: Indian Address : 111/1
Lumpini Place 3 A, Soi
Kraisee,
Sribamphen Rd., Sathorn
Soi 1, Sathorn, Bangkok |
40,000 |
20.00 |
Total Shareholders : 3
Share Structure
[as at April
30, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Indian |
3 |
200,000 |
100% |
|
Total |
3 |
200,000 |
100% |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mrs. Teeranuch
Sukwattanasinith No. 9160
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 |
92,831.97 |
71,235.17 |
724,802.43 |
|
Trade Accounts &
Other Receivable |
78,098,493.22 |
57,528,094.21 |
54,739,035.32 |
|
Inventories |
91,714,107.94 |
65,823,184.15 |
49,710,982.52 |
|
Other Current Assets |
- |
- |
126,053.69 |
|
|
|
|
|
|
Total Current Assets
|
169,905,433.13 |
123,894,133.16 |
105,300,873.96 |
|
|
|
|
|
|
Fixed Assets |
2,007,751.35 |
2,148,421.92 |
1,478,784.03 |
|
Intangible Assets |
170,704.42 |
- |
- |
|
Other Non-current Assets |
150,000.00 |
150,000.00 |
150,000.00 |
|
Total Assets |
172,233,888.90 |
126,192,555.08 |
106,929,657.99 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
48,920,572.91 |
44,869,110.76 |
23,456,302.19 |
|
Trade Accounts & Other
Payable |
84,599,757.72 |
47,058,439.99 |
42,695,493.13 |
|
Current Portion of
Long-term Loans |
- |
- |
3,523,983.24 |
|
Short-term Loan |
400,000.00 |
200,000.00 |
2,000,000.00 |
|
Other Current Liabilities |
1,044,291.51 |
873,900.13 |
3,527,075.37 |
|
|
|
|
|
|
Total Current Liabilities |
134,964,622.14 |
93,001,450.88 |
75,202,853.93 |
|
Long-term Loan from Financial Institution |
- |
- |
1,403,923.38 |
|
Total Liabilities |
134,964,622.14 |
93,001,450.88 |
76,606,777.31 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 200,000 shares |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
|
|
|
|
|
Capital Paid |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Retained Earning Unappropriated |
17,269,266.76 |
13,191,104.20 |
10,322,880.68 |
|
Total Shareholders' Equity |
37,269,266.76 |
33,191,104.20 |
30,322,880.68 |
|
Total Liabilities & Shareholders' Equity |
172,233,888.90 |
126,192,555.08 |
106,929,657.99 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
218,041,816.29 |
195,862,537.95 |
141,558,983.05 |
|
Other Income |
2,737,981.29 |
207,933.37 |
157,824.38 |
|
Total Revenues |
220,779,797.58 |
196,070,471.32 |
141,716,807.43 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
198,960,256.26 |
176,972,880.26 |
- |
|
Selling Expenses |
5,706,363.97 |
5,058,208.42 |
- |
|
Administrative Expenses |
9,133,421.73 |
8,127,756.38 |
- |
|
Exchange in Finished Goods and Work in Progress |
|
- |
[13,099,212.84] |
|
Raw Material & Material Supplies |
- |
- |
124,864,597.66 |
|
Employee Expenses |
- |
- |
10,921,050.00 |
|
Depreciation and Amortization |
- |
- |
737,259.40 |
|
Other Expenses |
- |
616,132.37 |
14,801,905.24 |
|
Total Expenses |
213,800,041.96 |
190,774,977.43 |
138,225,599.46 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income Tax |
6,979,755.62 |
5,295,493.89 |
3,491,207.97 |
|
Financial Costs |
[1,372,801.86] |
[1,191,870.24] |
[1,439,565.51] |
|
Profit / [Loss] before Income Tax |
5,606,953.76 |
4,103,623.65 |
2,051,642.46 |
|
Income Tax |
[1,528,791.51] |
[1,235,400.13] |
[617,079.47] |
|
|
|
|
|
|
Net Profit / [Loss] |
4,078,162.25 |
2,868,223.52 |
1,434,562.99 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.26 |
1.33 |
1.40 |
|
QUICK RATIO |
TIMES |
0.58 |
0.62 |
0.74 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
108.60 |
91.17 |
95.73 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.27 |
1.55 |
1.32 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
168.25 |
135.76 |
145.31 |
|
INVENTORY TURNOVER |
TIMES |
2.17 |
2.69 |
2.51 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
130.74 |
107.21 |
141.14 |
|
RECEIVABLES TURNOVER |
TIMES |
2.79 |
3.40 |
2.59 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
155.20 |
97.06 |
124.81 |
|
CASH CONVERSION CYCLE |
DAYS |
143.79 |
145.91 |
161.65 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.25 |
90.36 |
88.21 |
|
SELLING & ADMINISTRATION |
% |
6.81 |
6.73 |
8.24 |
|
INTEREST |
% |
0.63 |
0.61 |
1.02 |
|
GROSS PROFIT MARGIN |
% |
10.01 |
9.75 |
11.90 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.20 |
2.70 |
2.47 |
|
NET PROFIT MARGIN |
% |
1.87 |
1.46 |
1.01 |
|
RETURN ON EQUITY |
% |
10.94 |
8.64 |
4.73 |
|
RETURN ON ASSET |
% |
2.37 |
2.27 |
1.34 |
|
EARNING PER SHARE |
BAHT |
20.39 |
14.34 |
7.17 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.78 |
0.74 |
0.72 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.62 |
2.80 |
2.53 |
|
TIME INTEREST EARNED |
TIMES |
5.08 |
4.44 |
2.43 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
11.32 |
38.36 |
|
|
OPERATING PROFIT |
% |
31.81 |
51.68 |
|
|
NET PROFIT |
% |
42.18 |
99.94 |
|
|
FIXED ASSETS |
% |
(6.55) |
45.28 |
|
|
TOTAL ASSETS |
% |
36.48 |
18.01 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 11.32%. Turnover has increased from THB
195,862,537.95 in 2011 to THB 218,041,816.29 in 2012. While net profit has
increased from THB 2,868,223.52 in 2011 to THB 4,078,162.25 in 2012. And total
assets has increased from THB 126,192,555.08 in 2011 to THB 172,233,888.90 in
2012.
PROFITABILITY : EXCELLENT
PROFITABILITY RATIO
|
Gross Profit Margin |
10.01 |
Impressive |
Industrial Average |
1.88 |
|
Net Profit Margin |
1.87 |
Impressive |
Industrial Average |
0.04 |
|
Return on Assets |
2.37 |
Impressive |
Industrial Average |
0.43 |
|
Return on Equity |
10.94 |
Impressive |
Industrial Average |
1.93 |
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 10.01%. 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 1.87%,
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
2.37%, 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 10.94%, 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 Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.26 |
Acceptable |
Industrial Average |
1.72 |
|
Quick Ratio |
0.58 |
|
|
|
|
Cash Conversion Cycle |
143.79 |
|
|
|
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 1.26 times in 2012, decreased from 1.33 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 0.58 times in 2012,
decreased from 0.62 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 144 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.78 |
Acceptable |
Industrial Average |
0.76 |
|
Debt to Equity Ratio |
3.62 |
Risky |
Industrial Average |
3.41 |
|
Times Interest Earned |
5.08 |
Impressive |
Industrial Average |
0.28 |
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 5.09 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 0.78 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 Downtrend
ACTIVITY : ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
108.60 |
Impressive |
Industrial Average |
2.53 |
|
Total Assets Turnover |
1.27 |
Deteriorated |
Industrial Average |
14.17 |
|
Inventory Conversion Period |
168.25 |
|
|
|
|
Inventory Turnover |
2.17 |
Deteriorated |
Industrial Average |
43.91 |
|
Receivables Conversion Period |
130.74 |
|
|
|
|
Receivables Turnover |
2.79 |
Deteriorated |
Industrial Average |
18.17 |
|
Payables Conversion Period |
155.20 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.79 and 3.40 in
2012 and 2011 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 2012
decreased from 2011. 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 136 days at the
end of 2011 to 168 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 2.69 times in year 2011 to 2.17 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.27 times and 1.55
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.