MIRA
INFORM REPORT
|
Report Date : |
22.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNIGRO
INTERNATIONAL COMPANY LIMITED |
|
|
|
|
Registered Office : |
120 Moo 4, T. Samkwaiplueg, A. Muang, Nakornpathom 73000, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.08.1984 |
|
|
|
|
Com. Reg. No.: |
0105527031091 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
subject is
engaged in manufacturing and
distributing of animal
feeds for livestock
and poultry |
|
|
|
|
No. of Employees : |
70 |
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 : |
Slow but correct |
|
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
UNIGRO INTERNATIONAL COMPANY
LIMITED
SUMMARY
BUSINESS
ADDRESS : 120
MOO 4, T. SAMKWAIPLUEG, A. MUANG,
NAKORNPATHOM 73000,
THAILAND
TELEPHONE : [66] 34
305-101-3
FAX :
[66] 34
293-179
E-MAIL
ADDRESS : unigro_inter@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1984
REGISTRATION
NO. : 0105527031091
TAX
ID NO. : 3101310665
CAPITAL REGISTERED : BHT. 90,000,000
CAPITAL PAID-UP : BHT.
90,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KONG NONTHAPATTAMADUL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 70
LINES
OF BUSINESS : ANIMAL FEEDS
MANUFACTURER 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 August 28,
1984 as a
private limited company
under the registered
name UNIGRO INTERNATIONAL
COMPANY LIMITED by Thai groups,
with the objective
to manufacture and
distribute animal feeds
for livestock and
poultry. It currently
employs approximately 70
staff.
The
subject’s registered address
is 120 Moo
4, T. Samkwaiplueg,
A. Muang, Nakornpathom
73000, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Surapong Nimpunyakampong |
[-] |
Thai |
72 |
|
Mr. Bandit Nimpunyakampong |
[-] |
Thai |
55 |
|
Ms. Juthamas Nimpunyakampong |
[-] |
Thai |
40 |
|
Mr. Kong Nonthapattamadul |
[x] |
Thai |
64 |
|
Mr. Chaiyasit Thanasamanchoke |
[-] |
Thai |
68 |
|
Mr. Pakorn Bhanupaisal |
[x] |
Thai |
60 |
|
Mrs. Vanida Termklinchan |
[x] |
Thai |
55 |
|
Mr. Sunthorn Nualtoranee |
|
Thai |
68 |
AUTHORIZED PERSON
Anyone of the
mentioned directors [x]
can jointly sign
with anyone of
the mentioned directors
[-] on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Kong Nonthapattamadul is
the Managing Director.
He is Thai nationality with
the age of 64 years
old.
Ms. Juthamas Nimpunyakampong is
the Deputy Managing
Director, Sales &
Marketing Manager.
She is Thai
nationality with the
age of 40
years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing and distributing
of animal feeds
for livestock and
poultry.
BRAND NAME
“UNIGRO”
PURCHASE
Raw materials, soybean,
fish meal and
ingredients are purchased
from suppliers both
domestic and overseas, mainly
in India, Malaysia,
Netherlands and Spain.
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 on negotiated
terms.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
approximately 70 office
staff and factory
workers.
LOCATION
DETAILS
The
premise is owned for
administrative office, feed
mill and warehouse
at the heading
address. Premise is
located in provincial,
on the outskirts
of Bangkok.
COMMENT
Growth of animal
feed and health products remain steady from strong consumption in local market. In
general, its business
for this year
is still promising from
high demand of
the products.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 10,000,000
divided into 100,000
shares of Bht.
100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 20,000,000
on July 30,
1997
Bht. 30,000,000
on August 26,
2002
Bht. 90,000,000
on July 1,
2005
The
latest registered capital
was increased to Bht.
90,000,000 divided into 900,000 shares
of Bht. 100 each
with fully paid.
MAJOR
SHAREHOLDERS : [as at April
30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kong Nonthapattamadul Nationality: Thai Address : 59
Soi Somdejprapinklao 1,
Bangyeekhan,
Bangplad, Bangkok |
150,465 |
16.72 |
|
Ms. Juthamas Nimpunyakampong Nationality: Thai Address : 8
Soi Thesa 2,
T. Phrapathomjaedi, A.
Muang, Nakornpathom |
144,075 |
16.01 |
|
Mr. Pakorn Bhanupaisal Nationality: Thai Address : 222
Soi Charoenmitr, Prakanongnua,
Wattana, Bangkok |
76,830 |
8.54 |
|
Mr. Chaiyasit Thanasamanchoke Nationality: Thai Address : 55
Moo 14, T. Srakrathiem, A. Muang, Nakornpathom |
75,225 |
8.36 |
|
Mr. Poonlarp Nimpunyakampong Nationality: Thai Address : 8
Soi Thesa 2,
T. Phrapathomjaedi, A.
Muang, Nakornpathom |
74,850 |
8.32 |
|
Mr. Nanthiti Nimpunyakampong Nationality: Thai Address : 10/1
Vorachak Rd., Thepsirin,
Pomprab, Bangkok |
60,000 |
6.67 |
|
Mr. Sunthorn Nualtoranee Nationality: Thai Address : 3/258
Moo 9, Bangmod,
Jomthong, Bangkok |
52,584 |
5.84 |
|
Mrs. Sujin Jarusalaipong Nationality: Thai Address : 148
Soi Sabaijai, Samsennok, Huaykwang,
Bangkok |
40,500 |
4.50 |
|
Other Shareholders |
225,471 |
25.04 |
Total Shareholders : 35
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
35 |
900,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
35 |
900,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Veerak Jiraratpisal No.
2659
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 |
5,511,073.02 |
9,644,876.57 |
760,371.81 |
|
Trade Accounts Receivable
|
45,749,980.27 |
61,730,269.85 |
26,687,068.71 |
|
Other Receivable |
1,643,799.41 |
309,963.37 |
- |
|
Inventories |
131,651,525.43 |
144,045,563.19 |
249,569,844.94 |
|
Other Current Assets
|
394,400.00 |
374,400.00 |
624,400.00 |
|
|
|
|
|
|
Total Current Assets
|
184,950,778.13 |
216,105,072.98 |
277,641,685.46 |
|
|
|
|
|
|
Fixed Assets |
97,546,475.67 |
84,240,121.85 |
71,062,977.23 |
|
Other Non - current Assets |
844,673.14 |
844,673.14 |
844,673.14 |
|
Total Assets |
283,341,926.94 |
301,189,867.97 |
349,549,335.83 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
192,052,150.33 |
214,977,855.42 |
- |
|
Trade Accounts Payable
|
1,145,076.98 |
1,132,821.04 |
273,316,931.95 |
|
Other Payable |
3,349,287.03 |
3,514,263.86 |
- |
|
Accrued Income Tax |
832,384.44 |
943,164.58 |
78,654.30 |
|
|
|
|
|
|
Total Current Liabilities |
197,378,898.78 |
220,568,104.90 |
273,395,586.25 |
|
Total Liabilities |
197,378,898.78 |
220,568,104.90 |
273,395,586.25 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 900,000 shares |
90,000,000.00 |
90,000,000.00 |
90,000,000.00 |
|
|
|
|
|
|
Capital Paid |
90,000,000.00 |
90,000,000.00 |
90,000,000.00 |
|
Retained Earnings Unappropriated
|
[4,036,971.84] |
[9,378,236.93] |
[13,846,250.42] |
|
Total Shareholders' Equity |
85,963,028.16 |
80,621,763.07 |
76,153,749.58 |
|
Total Liabilities & Shareholders' Equity |
283,341,926.94 |
301,189,867.97 |
349,549,335.83 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
1,206,046,792.75 |
1,087,021,988.87 |
895,981,117.25 |
|
Other Income |
3,473,787.31 |
1,258,775.74 |
11,502,067.32 |
|
Total Revenues |
1,209,520,580.06 |
1,088,280,764.61 |
907,483,184.57 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,156,627,160.27 |
1,036,623,309.28 |
868,304,874.00 |
|
Selling Expenses |
16,055,196.43 |
16,764,664.79 |
14,215,254.48 |
|
Administrative Expenses |
21,137,498.09 |
18,429,610.50 |
16,342,513.90 |
|
Other Expenses |
4,468,984.57 |
6,577,207.17 |
- |
|
Total Expenses |
1,198,288,839.36 |
1,078,394,791.74 |
898,862,642.38 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income
Tax |
11,231,740.70 |
9,885,972.87 |
8,620,542.19 |
|
Financial Costs |
[4,283,490.48] |
[3,475,087.69] |
[2,211,199.46] |
|
Profit / [Loss] before Income
Tax |
6,948,250.22 |
6,410,885.18 |
6,409,342.73 |
|
Income Tax |
[1,606,985.13] |
[1,942,871.69] |
[100,443.56] |
|
|
|
|
|
|
Net Profit / [Loss] |
5,341,265.09 |
4,468,013.49 |
6,308,899.17 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.94 |
0.98 |
1.02 |
|
QUICK RATIO |
TIMES |
0.27 |
0.33 |
0.10 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
12.36 |
12.90 |
12.61 |
|
TOTAL ASSETS TURNOVER |
TIMES |
4.26 |
3.61 |
2.56 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
41.55 |
50.72 |
104.91 |
|
INVENTORY TURNOVER |
TIMES |
8.79 |
7.20 |
3.48 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
13.85 |
20.73 |
10.87 |
|
RECEIVABLES TURNOVER |
TIMES |
26.36 |
17.61 |
33.57 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
0.36 |
0.40 |
114.89 |
|
CASH CONVERSION CYCLE |
DAYS |
55.03 |
71.05 |
0.89 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.90 |
95.36 |
96.91 |
|
SELLING & ADMINISTRATION |
% |
3.08 |
3.24 |
3.41 |
|
INTEREST |
% |
0.36 |
0.32 |
0.25 |
|
GROSS PROFIT MARGIN |
% |
4.39 |
4.75 |
4.37 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.93 |
0.91 |
0.96 |
|
NET PROFIT MARGIN |
% |
0.44 |
0.41 |
0.70 |
|
RETURN ON EQUITY |
% |
6.21 |
5.54 |
8.28 |
|
RETURN ON ASSET |
% |
1.89 |
1.48 |
1.80 |
|
EARNING PER SHARE |
BAHT |
5.93 |
4.96 |
7.01 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.70 |
0.73 |
0.78 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.30 |
2.74 |
3.59 |
|
TIME INTEREST EARNED |
TIMES |
2.62 |
2.84 |
3.90 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
10.95 |
21.32 |
|
|
OPERATING PROFIT |
% |
13.61 |
14.68 |
|
|
NET PROFIT |
% |
19.54 |
(29.18) |
|
|
FIXED ASSETS |
% |
15.80 |
18.54 |
|
|
TOTAL ASSETS |
% |
(5.93) |
(13.83) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 10.95%. Turnover has increased from THB 1,087,021,988.87
in 2011 to THB 1,206,046,792.75 in 2012. While net profit has increased from
THB 4,468,013.49 in 2011 to THB 5,341,265.09 in 2012. And total assets has
decreased from THB 301,189,867.97 in 2011 to THB 283,341,926.94 in 2012.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.39 |
Deteriorated |
Industrial Average |
30.85 |
|
Net Profit Margin |
0.44 |
Deteriorated |
Industrial Average |
1.44 |
|
Return on Assets |
1.89 |
Deteriorated |
Industrial Average |
5.98 |
|
Return on Equity |
6.21 |
Deteriorated |
Industrial Average |
18.38 |
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 4.39%. 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 0.44%.
When compared with the industry average, the ratio of the company was lower.
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, it was lower, the company's figure is 1.89%.
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 6.21%.
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 |
0.94 |
Risky |
Industrial Average |
1.28 |
|
Quick Ratio |
0.27 |
|
|
|
|
Cash Conversion Cycle |
55.03 |
|
|
|
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 0.94 times in 2012, decrease from 0.98 times, then the company may have
problems meeting its short-term obligations. 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 0.27 times in 2012,
increase from 0.33 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 56 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.70 |
Acceptable |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
2.30 |
Risky |
Industrial Average |
1.85 |
|
Times Interest Earned |
2.62 |
Impressive |
Industrial Average |
1.17 |
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 2.63 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 0.7 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 Downtrend
Times Interest Earned Downtrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
12.36 |
Impressive |
Industrial Average |
5.58 |
|
Total Assets Turnover |
4.26 |
Satisfactory |
Industrial Average |
4.28 |
|
Inventory Conversion Period |
41.55 |
|
|
|
|
Inventory Turnover |
8.79 |
Acceptable |
Industrial Average |
12.86 |
|
Receivables Conversion Period |
13.85 |
|
|
|
|
Receivables Turnover |
26.36 |
Impressive |
Industrial Average |
6.27 |
|
Payables Conversion Period |
0.36 |
|
|
|
The company's Account Receivable Ratio is calculated as 26.36 and 17.61
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
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 decreased from 51 days at the
end of 2011 to 42 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 7.2 times in year 2011 to 8.79 times
in year 2012.
The company's Total Asset Turnover is calculated as 4.26 times and 3.61
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.46 |
|
UK Pound |
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.85.12 |
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.