MIRA INFORM REPORT
|
Report Date : |
14.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
WORLD INSTRUMENT & ENGINEERING CO., LTD. |
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|
|
Registered Office : |
11 Soi Ramkhamhaeng 174, Ramkhamhaeng Road, Minburi, Bangkok 10510 |
|
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|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
19.10.1998 |
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Com. Reg. No.: |
0105541065444 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Distributor Laboratory & Engineering Instruments and Related Products |
|
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No. of Employees : |
15 |
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 |
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Payment Behaviour : |
No Complaints |
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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
WORLD INSTRUMENT
& ENGINEERING CO., LTD.
SUMMARY
BUSINESS ADDRESS : 11 SOI RAMKHAMHAENG
174,
RAMKHAMHAENG ROAD,
MINBURI,
BANGKOK 10510,
THAILAND
TELEPHONE : [66] 2916-3800-2
FAX : [66] 2916-3803
E-MAIL ADDRESS : info@world-instrument.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1998
REGISTRATION NO. : 0105541065444
TAX ID NO. : 3011966877
CAPITAL REGISTERED : BHT.
10,000,000
CAPITAL PAID-UP : BHT. 6,250,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. WISON SROYSOOK,
THAI
MANAGING DIRECTOR
NO. OF STAFF : 15
LINES OF BUSINESS : LABORATORY &
ENGINEERING INSTRUMENTS
AND RELATED
PRODUCTS
IMPORTER AND
DISTRIBUTOR
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 October
19, 1998 as
a private limited
company under the
name style WORLD
INSTRUMENT & ENGINNERING
CO., LTD., by
Thai groups, with
the business objective
to import and
distribute various kinds
of laboratory &
engineering instruments and
related products to
local market. It
currently employs 15 staff.
The subject’s registered
address was initially
located at 32/104 Moo 8,
Nuanchan Rd., Klongkum,
Buengkum, Bangkok 10230.
On January 16,
2012, its registered
address was relocated
to 11 Soi
Ramkhamhaeng 174, Ramkhamhaeng
Rd., Minburi, Bangkok
10510, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Visuth Benchanarasuth |
[x] |
Thai |
72 |
|
Mr. Wison Sroysook |
[x] |
Thai |
42 |
|
Mrs. Duangmanee Sroysook |
[x] |
Thai |
42 |
|
Ms. Wimarn Sroysook |
|
Thai |
44 |
AUTHORIZED PERSON
Anyone of the
above directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Wison Sroysook
is the Managing
Director.
He is Thai
nationality with the age of
42 years old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing various
kinds of laboratory
& engineering
instruments and related
products as the
followings:
- Control and Measuring
Instruments
- Mixing and
Milling Instruments
- Pump, Value
and Filter Technologies
- Automation and Mechanical
Instruments
- Gas Generation
and Special Gas
Solution
- Test and
Measurement Instruments
- Laboratory instruments
- Filling and material
handling technology
- etc.
MAJOR BRANDS
“3 STAR”, “PRIMIX”, “INFICON”,
“PNEUMOFORE”, “ROSS”, “HEIDON”
and etc.
PURCHASE
The products are
purchased from both
local and overseas
suppliers in Japan,
Germany, United States
of America, India,
Italy, U.K., and
Republic of China
MAJOR SUPPLIERS
Primix Corporation : Japan
Charles Ross & Son Inc. : U.S.A.
Shinto Scientific Co.,
Ltd. : Japan
Wuxi YK Automation
Technology Co., Ltd. : Republic
of China
International Controlled Atmosphere
Ltd. : U.K.
SALES
100% of the
products is sold
locally to wholesalers
and Thai government.
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
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
Bangkok Bank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
15 staff.
LOCATION DETAILS
The premise is owned
for operating administrative office
at the heading
address. Premise is
located on the
outskirts of Bangkok.
COMMENT
The subject was
formed in 1998
as importer and
distributor of laboratory instruments. The
products are for
lab research and
analysis. Subject has good
business during the
last few years
due to expansion
of related industries.
However, economic sluggish
would lead to
slow consumption in
local market.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100 each.
The capital was
increased later as
follows:
Bht. 5,000,000 on August
3, 2004
Bht. 10,000,000 on
May 7, 2013
The latest registered
capital was increased to
Bht. 10,000,000 divided
into 100,000 shares
of Bht. 100
each, with the
current capital paid-up
at Bht. 6,250,000.
THE SHAREHOLDERS LISTED
WERE
[as at
July 29, 2013]
at Bht. 6,250,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Wison Sroysook Nationality: Thai Address : 11
Soi Ramkhamhaeng 174,
Minburi, Bangkok |
45,000 |
45.00 |
|
Mrs. Duangmanee Sroysook Nationality: Thai Address : 11
Soi Ramkhamhaeng 174,
Minburi, Bangkok |
30,000 |
30.00 |
|
Mr. Visuth Benchanarasuth Nationality: Thai Address : 117
Soi Sukhumvit 95/1,
Bangchak,
Phrakanong, Bangkok |
10,000 |
10.00 |
|
Mrs. Pommaree Ularnwong Nationality: Thai Address : 43/97
Moo 8, T. Bangkhen, A. Muang,
Nonthaburi |
5,000 |
5.00 |
|
Ms. Wimarn Sroysook Nationality: Thai Address : 32/168
Soi Nualchan 12, Klongkum, Buengkum, Bangkok
|
5,000 |
5.00 |
|
Mrs. Rongnapa Benchanarasuth Nationality: Thai Address : 117
Soi Sukhumvit 95/1,
Bangchak,
Phrakanong, Bangkok |
5,000 |
5.00 |
Total Shareholders : 6
Share Structure
[as at July
29, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
100,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
100,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Nathaporn Narkmahachalasindh
No. 6250
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 |
279,241.65 |
40,922.66 |
213,467.26 |
|
Short-term Investment |
- |
503,217.50 |
500,000.00 |
|
Trade Accounts & Other Receivable |
23,992,164.99 |
32,752,498.29 |
5,592,659.94 |
|
Inventories |
15,320,662.19 |
2,536,519.21 |
2,713,483.05 |
|
Goods in Transit |
- |
1,842,140.70 |
- |
|
|
|
|
|
|
Total Current Assets
|
39,592,068.83 |
37,675,298.36 |
9,019,610.25 |
|
Cash at Bank pledged as a
Collateral |
521,122.01 |
516,624.75 |
509,378.60 |
|
Fixed Assets |
683,010.74 |
584,892.42 |
654,520.99 |
|
Intangible Assets |
41,615.78 |
17,501.10 |
19,507.35 |
|
Other Non-current Assets |
427,979.89 |
415,979.89 |
2,371,179.98 |
|
Total Assets |
41,265,797.25 |
39,210,296.52 |
12,574,197.17 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft and Short-term
Loan from Financial Institutions |
18,810,612.01 |
7,505,228.80 |
5,753,483.26 |
|
Trade Accounts & Other
Payable |
9,449,246.87 |
22,207,051.16 |
3,218,827.10 |
|
Current Portion of
Long-term Loans |
1,280,109.37 |
103,168.84 |
105,062.74 |
|
Short-term Loan |
- |
5,000,000.00 |
- |
|
Accrued Income Tax |
- |
140,736.73 |
- |
|
|
|
|
|
|
Total Current Liabilities |
29,539,968.25 |
34,956,185.53 |
9,077,373.10 |
|
Long-term Loan from Person |
3,520,000.00 |
2,084,000.00 |
- |
|
Long-term Loan from Financial Institution |
4,995,506.16 |
86,924.94 |
188,199.88 |
|
Other Non-current Liabilities |
200,000.00 |
99,000.00 |
- |
|
Total Liabilities |
38,255,474.41 |
37,226,110.47 |
9,265,572.98 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earnings Unappropriated
|
[1,989,677.16] |
[3,015,813.95] |
[1,691,375.81] |
|
Total Shareholders' Equity |
3,010,322.84 |
1,984,186.05 |
3,308,624.19 |
|
Total Liabilities & Shareholders' Equity |
41,265,797.25 |
39,210,296.52 |
12,574,197.17 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Services Income |
37,360,041.62 |
66,876,504.05 |
44,637,166.39 |
|
Other Income |
1,472,952.53 |
38,141.80 |
6,049.62 |
|
Total Revenues |
38,832,994.15 |
66,914,645.85 |
44,643,216.01 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
26,003,838.91 |
51,220,789.00 |
27,704,176.53 |
|
Selling Expenses |
970,862.25 |
3,053,155.18 |
- |
|
Administrative Expenses |
9,492,022.99 |
10,582,724.36 |
15,632,332.48 |
|
Total Expenses |
36,466,724.15 |
64,856,668.54 |
43,336,509.01 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
2,366,270.00 |
2,057,977.31 |
1,306,707.00 |
|
Financial Costs |
[993,040.01] |
[934,790.46] |
[729,888.97] |
|
Profit before Income
Tax |
1,373,229.99 |
1,123,186.85 |
576,818.03 |
|
Income Tax |
[347,093.20] |
[287,000.42] |
[390,091.31] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,026,136.79 |
836,186.43 |
186,726.72 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.34 |
1.08 |
0.99 |
|
QUICK RATIO |
TIMES |
0.82 |
0.95 |
0.69 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
54.70 |
114.34 |
68.20 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.91 |
1.71 |
3.55 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
215.05 |
31.20 |
35.75 |
|
INVENTORY TURNOVER |
TIMES |
1.70 |
11.70 |
10.21 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
234.40 |
178.76 |
45.73 |
|
RECEIVABLES TURNOVER |
TIMES |
1.56 |
2.04 |
7.98 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
132.63 |
158.25 |
42.41 |
|
CASH CONVERSION CYCLE |
DAYS |
316.81 |
51.71 |
39.07 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
69.60 |
76.59 |
62.07 |
|
SELLING & ADMINISTRATION |
% |
28.01 |
20.39 |
35.02 |
|
INTEREST |
% |
2.66 |
1.40 |
1.64 |
|
GROSS PROFIT MARGIN |
% |
34.34 |
23.47 |
37.95 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.33 |
3.08 |
2.93 |
|
NET PROFIT MARGIN |
% |
2.75 |
1.25 |
0.42 |
|
RETURN ON EQUITY |
% |
34.09 |
42.14 |
5.64 |
|
RETURN ON ASSET |
% |
2.49 |
2.13 |
1.48 |
|
EARNING PER SHARE |
BAHT |
20.52 |
16.72 |
3.73 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.93 |
0.95 |
0.74 |
|
DEBT TO EQUITY RATIO |
TIMES |
12.71 |
18.76 |
2.80 |
|
TIME INTEREST EARNED |
TIMES |
2.38 |
2.20 |
1.79 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(44.14) |
49.82 |
|
|
OPERATING PROFIT |
% |
14.98 |
57.49 |
|
|
NET PROFIT |
% |
22.72 |
347.81 |
|
|
FIXED ASSETS |
% |
16.78 |
(10.64) |
|
|
TOTAL ASSETS |
% |
5.24 |
211.83 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is -44.14%. Turnover has decreased from THB 66,876,504.05
in 2011 to THB 37,360,041.62 in 2012. While net profit has increased from THB
836,186.43 in 2011 to THB 1,026,136.79 in 2012. And total assets has increased
from THB 39,210,296.52 in 2011 to THB 41,265,797.25 in 2012.
PROFITABILITY : IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit Margin |
34.34 |
Satisfactory |
Industrial Average |
42.74 |
|
Net Profit Margin |
2.75 |
Impressive |
Industrial Average |
1.65 |
|
Return on Assets |
2.49 |
Satisfactory |
Industrial Average |
3.20 |
|
Return on Equity |
34.09 |
Impressive |
Industrial Average |
8.90 |
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 34.34%. When compared with
the industry average, the ratio of the company was lower. This indicated that
company may have problems with control over its costs.
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 2.75%,
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. When compared with the
industry average, its was lower, the company's figure is 2.49%.
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 34.09%, 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 |
1.34 |
Satisfactory |
Industrial Average |
1.48 |
|
Quick Ratio |
0.82 |
|
|
|
|
Cash Conversion Cycle |
316.81 |
|
|
|
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 1.34 times in 2012, increased from 1.08 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 0.82 times in 2012,
decreased from 0.95 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 317 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.93 |
Acceptable |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
12.71 |
Risky |
Industrial Average |
1.83 |
|
Times Interest Earned |
2.38 |
Impressive |
Industrial Average |
1.01 |
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 2.39 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 0.93 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 Downtrend
ACTIVITY : ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
54.70 |
Impressive |
Industrial Average |
1.33 |
|
Total Assets Turnover |
0.91 |
Deteriorated |
Industrial Average |
1.93 |
|
Inventory Conversion Period |
215.05 |
|
|
|
|
Inventory Turnover |
1.70 |
Deteriorated |
Industrial Average |
5.00 |
|
Receivables Conversion Period |
234.40 |
|
|
|
|
Receivables Turnover |
1.56 |
Deteriorated |
Industrial Average |
3.39 |
|
Payables Conversion Period |
132.63 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.56 and 2.04 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 31 days at the
end of 2011 to 215 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 11.7 times in year 2011 to 1.7 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.91 times and 1.71
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 Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.43 |
|
|
1 |
Rs.95.76 |
|
Euro |
1 |
Rs.81.76 |
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.