MIRA
INFORM REPORT
|
Report Date : |
24.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASIA METAL WORKS INDUSTRY LIMITED |
|
|
|
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Registered Office : |
50/202-203 Moo 5, Leabklongseewha Road, T. Bangnamjued, A. Muang, Samutsakorn 74000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.05.2012 |
|
|
|
|
Date of Incorporation : |
29.06.1990 |
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|
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Com. Reg. No.: |
0105533075533 |
|
|
|
|
Legal Form : |
Private Limited Company |
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|
|
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Line of Business : |
Manufacturer, Distributor and Exporter of Metal Parts and Industrial Supplies |
|
|
|
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No. of Employees : |
30 |
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 : |
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 crisis 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
ASIA
METAL WORKS INDUSTRY LIMITED
SUMMARY
BUSINESS
ADDRESS : 50/202-203 MOO
5, LEABKLONGSEEWHA ROAD,
T. BANGNAMJUED, A. MUANG,
SAMUTSAKORN 74000
TELEPHONE : [66] 34
867-608-9
FAX :
[66] 34
852-568
E-MAIL
ADDRESS : asiametalworks@gmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1990
REGISTRATION
NO. : 0105533075533
TAX
ID NO. : 3101874891
CAPITAL REGISTERED : BHT.
3,000,000
CAPITAL PAID-UP : BHT.
3,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : MAY
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. CHAIYOS PICHETCHOTE,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 30
LINES
OF BUSINESS : METAL
PARTS AND INDUSTRIAL
SUPPLIES
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established on June
29, 1990 as a
private limited company under
the registered name ASIA
METAL WORKS INDUSTRY
CO., LTD., by
Thai groups, with the business
objective to manufacture
and distribute metal
parts and industrial
supplies to both
domestic and international
markets. It currently
employs approximately 30 staff.
The
subject’s registered address
is 50/202-203 Moo
5, Leabklongseewha Road,
T. Bangnamjued, A. Muang,
Samutsakorn 74000, and
this is the
subject’s
current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chaiyos Pichetchote |
[x] |
Thai |
63 |
|
Mr. Kananart Pichetchote |
|
Thai |
25 |
|
Mr. Sathapat Preeda |
|
Thai |
58 |
AUTHORIZED PERSON
Only the mentioned
director [x] signs or
both of the
rest directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Chaiyos Pichetchote is
the Managing Director.
He is Thai
nationality with the
age of 63
years old.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing metal
parts and industrial
supplies, especially press
parts for electronics,
metal seals for
packaging, serrated seals
for pet straps,
and wire way
and cable trays
for construction industries.
PURCHASE
100%
of raw materials such as
steels and aluminium
sheets are purchased
from local suppliers.
SALES
90% of the
products is sold
locally by wholesale
to manufacturers and
end-users, the remaining
10% is exported
to Malaysia, Indonesia
and Kenya.
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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
approximately 30 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.
COMMENT
The
subject is a
manufacturer, distributor and
exporter various kinds
of industrial parts
and supplies. Its business
was slow in
the previous year,
while current business
is relatively slow in
line with lower
domestic industrial production
and sales forecasts.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,500,000 divided into
15,000 shares of
Bht. 100 each with
fully paid.
On
October 24, 1990,
the registered capital
was increased to Bht. 3,000,000
divided into 30,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
September 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Chaiyos Pichetchote Nationality: Thai Address : 61/52
Soi Sukhumvit 26,
Klongton,
Klongtoey, Bangkok |
29,985 |
99.95 |
|
Mr. Vichet Trakarnchatree Nationality: Thai Address : 636
Soi Thanurat 8,
Thungwatdon,
Sathorn, Bangkok |
10 |
0.03 |
|
Ms. Phensri Rojanapornpitak Nationality: Thai Address : 159/83
Soi Plukejit, Rama
4 Rd.,
Lumpini, Pathumwan, Bangkok |
1 |
|
|
Mr. Somporn Srihuab Nationality: Thai Address : 21/152
Moo 3, Soi
Thimruengvej,
Sukhumvit Rd., Bangchak,
Prakanong,
Bangkok |
1 |
|
|
Ms. Patcha Wancham Nationality: Thai Address : 387
Taksin 10 Rd.,
Bukkalo, Thonburi, Bangkok |
1 |
= 0.02 |
|
Mr. Peerapol Haphollarp Nationality: Thai Address : 85/7
Rajprarop Rd., Makkasan,
Phyathai,
Bangkok |
1 |
|
|
Ms. Jirarat Phanpaisal Nationality: Thai Address : 29
Moo 2, Bangkruay-Sainoi Rd.,
Bangkruay, Nonthaburi |
1 |
|
Total Shareholders : 7
Share Structure [as
at September 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
30,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
30,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Suparerk Suksanguan No.
9244
BALANCE SHEET [BAHT]
The latest financial figures published
as at May 31, 2012,
2011 & 2010
were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
94,140.00 |
124,418.65 |
21,139.13 |
|
Trade Accounts Receivable
|
4,358,857.85 |
4,153,870.51 |
5,251,690.42 |
|
Inventories |
3,559,169.40 |
2,291,477.51 |
1,617,073.05 |
|
Other Current Assets
|
565,357.73 |
672,263.38 |
912,093.36 |
|
|
|
|
|
|
Total Current Assets
|
8,577,524.98 |
7,242,030.05 |
7,801,995.96 |
|
|
|
|
|
|
Fixed Assets |
20,267,551.63 |
22,754,035.94 |
23,034,526.88 |
|
Other Non-current Assets |
613,484.23 |
613,484.23 |
658,733.31 |
|
Total Assets |
29,458,560.84 |
30,609,550.22 |
31,495,256.15 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term
Loan from Financial Institutions |
2,472,920.46 |
1,779,180.26 |
2,226,354.36 |
|
Trade Accounts Payable
|
1,541,459.72 |
1,632,473.30 |
1,954,637.97 |
|
Current Portion of
Long-term Loans |
469,320.00 |
469,320.00 |
311,988.00 |
|
Short-term Loan from
Person or Related Company |
6,990,000.00 |
6,730,000.00 |
5,880,000.00 |
|
Other Current Liabilities |
555,487.98 |
438,237.91 |
348,433.83 |
|
|
|
|
|
|
Total Current Liabilities |
12,029,188.16 |
11,049,211.47 |
10,721,414.16 |
|
Long-term Liabilities |
143,230.15 |
638,772.15 |
701,973.00 |
|
Long-term Loan from Related or Other Company |
4,808,871.38 |
6,916,659.65 |
8,936,612.79 |
|
Employee Benefits Obligation |
89,265.15 |
- |
- |
|
Total Liabilities |
17,070,554.84 |
18,604,643.27 |
20,359,999.95 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 30,000 shares |
3,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
|
|
|
|
|
Capital Paid |
3,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
Retained Earnings Unappropriated
|
9,388,006.00 |
9,004,906.95 |
8,135,256.20 |
|
Total Shareholders' Equity |
12,388,006.00 |
12,004,906.95 |
12,004,906.95 |
|
Total Liabilities & Shareholders' Equity |
29,458,560.84 |
30,609,550.22 |
32,364,906.90 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
24,702,214.95 |
27,743,951.48 |
25,089,841.47 |
|
Other Income |
31,607.23 |
155,841.19 |
12,296.46 |
|
Total Revenues |
24,733,822.18 |
27,899,792.67 |
25,102,137.93 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Change in Finished Goods and Work in Process |
76,934.01 |
[97,526.96] |
[109,001.47] |
|
Raw Material and Material Supplies |
14,904,875.35 |
16,976,736.92 |
14,910,280.37 |
|
Employees Expenses |
3,799,220.67 |
3,786,053.00 |
3,713,863.00 |
|
Cost of Products |
1,174,005.33 |
1,998,681.14 |
1,923,495.35 |
|
Depreciation and Amortization |
2,640,388.67 |
2,441,391.28 |
2,148,107.86 |
|
Other Expenses |
874,813.48 |
849,199.56 |
949,911.61 |
|
Total Expenses |
23,470,237.51 |
25,954,534.94 |
23,536,656.72 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
1,263,584.67 |
1,945,257.73 |
1,565,481.21 |
|
Financial Costs |
[822,091.17] |
[879,259.58] |
[907,072.57] |
|
Profit / [Loss] before Income
Tax |
441,493.50 |
1,065,998.15 |
658,408.64 |
|
Income Tax |
[61,983.13] |
[196,347.40] |
[113,917.74] |
|
|
|
|
|
|
Net Profit / [Loss] |
379,510.37 |
869,650.75 |
544,490.90 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.71 |
0.66 |
0.73 |
|
QUICK RATIO |
TIMES |
0.37 |
0.39 |
0.49 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.22 |
1.22 |
1.09 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.84 |
0.91 |
0.80 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
80.80 |
44.08 |
35.06 |
|
INVENTORY TURNOVER |
TIMES |
4.52 |
8.28 |
10.41 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
64.41 |
54.65 |
76.40 |
|
RECEIVABLES TURNOVER |
TIMES |
5.67 |
6.68 |
4.78 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
34.99 |
31.40 |
42.38 |
|
CASH CONVERSION CYCLE |
DAYS |
110.21 |
67.32 |
69.08 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
65.09 |
68.39 |
67.09 |
|
SELLING & ADMINISTRATION |
% |
26.07 |
22.45 |
23.36 |
|
INTEREST |
% |
3.33 |
3.17 |
3.62 |
|
GROSS PROFIT MARGIN |
% |
35.04 |
32.17 |
32.96 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
5.12 |
7.01 |
6.24 |
|
NET PROFIT MARGIN |
% |
1.54 |
3.13 |
2.17 |
|
RETURN ON EQUITY |
% |
3.06 |
7.24 |
4.54 |
|
RETURN ON ASSET |
% |
1.29 |
2.84 |
1.73 |
|
EARNING PER SHARE |
BAHT |
12.65 |
28.99 |
18.15 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.58 |
0.61 |
0.65 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.38 |
1.55 |
1.70 |
|
TIME INTEREST EARNED |
TIMES |
1.54 |
2.21 |
1.73 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(10.96) |
10.58 |
|
|
OPERATING PROFIT |
% |
(35.04) |
24.26 |
|
|
NET PROFIT |
% |
(56.36) |
59.72 |
|
|
FIXED ASSETS |
% |
(10.93) |
(1.22) |
|
|
TOTAL ASSETS |
% |
(3.76) |
(2.81) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -10.96%. Turnover has decreased from THB
27,743,951.48 in 2011 to THB 24,702,214.95 in 2012. While net profit has
decreased from THB 869,650.75 in 2011 to THB 379,510.37 in 2012. And total
assets has decreased from THB 30,609,550.22 in 2011 to THB 29,458,560.84 in
2012.
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
35.04 |
Impressive |
Industrial
Average |
16.90 |
|
Net Profit Margin |
1.54 |
Impressive |
Industrial
Average |
0.20 |
|
Return on Assets |
1.29 |
Acceptable |
Industrial
Average |
1.83 |
|
Return on Equity |
3.06 |
Deteriorated |
Industrial
Average |
6.41 |
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 35.04%. 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 1.54%, 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, it was lower, the company's figure is 1.29%.
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 3.06%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.71 |
Risky |
Industrial
Average |
1.24 |
|
Quick Ratio |
0.37 |
|
|
|
|
Cash Conversion Cycle |
110.21 |
|
|
|
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 0.71 times in 2012, increased from 0.66 times, then the company may not be
efficiently using its current assets. 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 0.37 times in 2012,
decreased from 0.39 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 111 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.58 |
Impressive |
Industrial
Average |
0.66 |
|
Debt to Equity Ratio |
1.38 |
Satisfactory |
Industrial
Average |
2.08 |
|
Times Interest Earned |
1.54 |
Impressive |
Industrial
Average |
(0.20) |
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 1.54 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 0.58 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.22 |
Impressive |
Industrial
Average |
0.50 |
|
Total Assets Turnover |
0.84 |
Deteriorated |
Industrial
Average |
3.12 |
|
Inventory Conversion Period |
80.80 |
|
|
|
|
Inventory Turnover |
4.52 |
Deteriorated |
Industrial
Average |
13.68 |
|
Receivables Conversion Period |
64.41 |
|
|
|
|
Receivables Turnover |
5.67 |
Impressive |
Industrial
Average |
4.87 |
|
Payables Conversion Period |
34.99 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.67 and 6.68 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 44 days at the
end of 2011 to 81 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 8.28 times in year 2011 to 4.52 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.84 times and 0.91
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.64.69 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.86.30 |
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.