MIRA INFORM
REPORT
|
Report Date : |
31.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
MITRACOM
CO., LTD. |
|
|
|
|
Registered Office : |
57/16-18 Moo 4, Ramintra Road, Km. 2, Anusaowaree, Bangkhen, Bangkok 10220 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
16.03.1987 |
|
|
|
|
Com. Reg. No.: |
0105530012506 [Former: 1247/2530] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
importer
and distributor of
machinery, engineering parts,
cutting tools, tools
and equipment supplies. |
|
|
|
|
No. of Employees : |
42 |
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
MITRACOM CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 57/16-18 MOO 4,
RAMINTRA ROAD, KM. 2,
ANUSAOWAREE, BANGKHEN,
BANGKOK 10220
TELEPHONE : [66] 2971-6474
FAX :
[66] 2552-2703
E-MAIL
ADDRESS : mitracom@samart.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1987
REGISTRATION
NO. : 0105530012506 [Former:
1247/2530]
TAX
ID NO. : 3101435245
CAPITAL REGISTERED : BHT. 15,000,000
CAPITAL PAID-UP : BHT.
15,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
BOONTHAM
CHAMNIENWATTANAPHAN,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 42
LINES
OF BUSINESS : MACHINERY AND
SPARE PARTS
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 March 16,
1987 as a
private limited company under
the name style
MITRACOM CO., LTD., by
Thai groups, with
the business objective
to import and
distribute machinery and spare
parts to local
market. It currently
employs 42 staff.
The
subject’s registered address
is 57/16-18 Moo 4, Ramintra Rd., KM.
2, Anusaowaree, Bangkhen,
Bangkok 10220, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chaiyuth Kiatpinyo |
|
Thai |
70 |
|
Mr. Pakarn Kiatpinyo |
|
Thai |
29 |
|
Mr. Boontham
Chamnienwattanaphan |
|
Thai |
47 |
|
Mrs. Pornphan Aiyararat |
|
Thai |
42 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Boontham Chamnienwattanaphan is
the Managing Director.
He is Thai
nationality with the
age of 70
years old.
Mrs. Pranee Chamnienwattanaphan is
the General Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in importing
and distributing wide
range of machinery, engineering
parts, cutting tools,
tools and equipment
supplies, which divided
into 5 main
products for automotive,
renewable energy and other
industries. Range of products and
brands are as
the followings:
Product Brand
Renewable Energy “LDK SOLAR”,
“KOMPOGAS”
Toolings “SANDVIK”, “DORMER”,
“HEIDENHAIN”,
“VERTEX”, “BLASER
SWISSLUBE”,
“FISHERTECH”, “SYSTEM 3R”
Laser Machine “OR LASER”, “ACI”,
“ACYSY”
Special Purpose Machine “ALD”, “MILACRON”,
“MEYER BURGER”,
“HATEBUR”,
“OSTERWALDER”, “DELU”,
“BR
TECHNOLOGIES”
Machine Tools “MAG”, “OKAMOTO”, “NOMURA”,
“NAKAMURA-TOME”
PURCHASE
The products are
purchased from both
local and overseas
suppliers in Japan,
Singapore, Germany, Italy
and Sweden.
MAJOR SUPPLIERS
Makino Asia Pte. Ltd. : Singapore
Makino Milling Machine Co., Ltd. : Japan
Meyer Bruger Technology
AG. : Germany
CCC Machinery GmbH : Germany
Feromatik Milacron GmbH : Germany
SALES
100% of the
products is sold
locally to manufacturers, wholesalers
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
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.
Sales are by
cash or on
the credits term
of 30-60 days.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs 42
staff.
BUSINESS TRANSACTIONS
The products are
sold by cash
and credit with
the maximum credit
given at 30-60
days. The subject
is not found
to have payment
problem from both
account receivable and
account payable.
LOCATION
DETAILS
The
premise is owned
for administrative office
and warehouse at the heading
address. Premise is
located in commercial
area.
COMMENT
For
twenty-six years of
experience in the
business field, the
subject offers high
quality products to
its customers with
well-train engineers that
assist the customers for all applications, which
most of them
are leading industrial
enterprises.
The
subject’s sale has
been declined since
last year with
slight demand from
industrial sector
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
and decreased later
as follows:
Bht. 10,000,000
on December 27,
1995 [increased]
Bht. 3,000,000
on August 25,
2009 [decreased]
Bht. 15,000,000
on December 9,
2009 [increased]
The
latest registered capital
was increased to
Bht. 15,000,000 divided into
150,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Boontham
Chamnienwattanaphan Nationality: Thai Address : 24
Soi Ramindra 4/2
Anusaowaree,
Bangkhen, Bangkok |
120,000 |
80.00 |
|
Mrs.
Pornphan Aiyararat Nationality: Thai Address : 72/264
Moo 6, T. Kukot,
A. Lamlookka, Pathumthani |
27,000 |
18.00 |
|
Ms. Supavadee Klinkorn Nationality: Thai Address : 1023/3
Moo 12, Bangna,
Bangkok |
2,000 |
1.33 |
|
Ms. Puangnoi Siriwan Nationality: Thai Address : 4/116
Moo 6, Ladprao,
Bangkok |
1,000 |
0.67 |
Total Shareholders : 4
Share
Structure [as at
April 30, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
150,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
150,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Cholticha Leelapanang
No. 1815
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 |
449,682.52 |
474,697.77 |
2,179,150.00 |
|
Short-term Investment |
186,385.25 |
183,999.12 |
183,997.35 |
|
Trade Accounts &
Other Receivable |
10,849,889.22 |
14,068,385.04 |
18,468,889.23 |
|
Inventories |
44,348,736.60 |
41,182,194.87 |
24,774,618.07 |
|
Other Current Assets
|
435,201.35 |
410,113.57 |
3,881,053.25 |
|
|
|
|
|
|
Total Current Assets
|
56,269,894.94 |
56,319,390.37 |
49,487,707.90 |
|
Long-term Lending to Related Person |
- |
- |
60,458.67 |
|
Fixed Assets |
1,341,592.00 |
1,642,123.99 |
2,318,749.44 |
|
Other Non-current Assets |
3,834,723.67 |
3,803,739.21 |
626,555.85 |
|
Total Assets |
61,446,210.61 |
61,765,253.57 |
52,493,471.86 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
71,757,850.71 |
74,894,731.30 |
58,412,978.59 |
|
Current Portion of Long-term
Loan |
- |
- |
255,364.56 |
|
Accrued Income Tax |
120,321.22 |
31,722.24 |
16,385.30 |
|
Other Current Liabilities |
147,226.12 |
161,675.28 |
263,387.25 |
|
|
|
|
|
|
Total Current Liabilities |
72,025,398.05 |
75,088,128.82 |
58,948,115.70 |
|
Estimated Liabilities from Employee Benefits |
846,954.00 |
- |
- |
|
Long-term Loan |
8,650,918.94 |
7,252,388.02 |
14,857,707.55 |
|
Long-term Loan &
Hire-purchase Payable |
- |
- |
220,086.30 |
|
Other Non-current Liabilities |
359,886.21 |
359,886.21 |
105,000.00 |
|
Total Liabilities |
81,883,157.20 |
82,700,403.05 |
74,130,909.55 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 150,000 shares |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
|
|
|
|
|
Capital Paid |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
Retained Earning - Unappropriated |
[35,436,946.59] |
[35,935,149.48] |
[36,637,437.69] |
|
Total Shareholders' Equity |
[20,436,946.59] |
[20,935,149.48] |
[21,637,437.69] |
|
Total Liabilities &
Shareholders' Equity |
61,446,210.61 |
61,765,253.57 |
52,493,471.86 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Service
Income |
68,416,449.52 |
84,696,019.14 |
78,536,691.98 |
|
Interest Income |
5,991.24 |
6,319.78 |
16,599.95 |
|
Rental Income |
60,000.00 |
120,000.00 |
114,000.00 |
|
Other Income |
5,348,238.59 |
1,499,372.61 |
1,585,240.13 |
|
Gain / [Loss] on Exchange Rate |
[972,367.42] |
[2,067,051.93] |
1,247,153.75 |
|
Total Revenues |
72,858,311.93 |
84,254,659.60 |
81,499,685.81 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
54,299,373.53 |
66,162,488.62 |
64,641,390.36 |
|
Selling Expenses |
9,189,770.44 |
8,864,989.42 |
7,851,145.58 |
|
Administrative Expenses |
8,263,512.76 |
8,146,715.45 |
8,205,073.15 |
|
Total Expenses |
71,752,656.73 |
83,179,193.49 |
80,697,609.09 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
1,105,655.20 |
1,075,466.11 |
802,076.72 |
|
Financial Costs |
[70,928.36] |
[72,184.54] |
[78,385.56] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
1,034,726.84 |
1,003,281.57 |
723,691.16 |
|
Income Tax |
[536,523.95] |
[300,993.36] |
[232,907.80] |
|
|
|
|
|
|
Net Profit / [Loss] |
498,202.89 |
702,288.21 |
490,783.36 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.78 |
0.75 |
0.84 |
|
QUICK RATIO |
TIMES |
0.16 |
0.20 |
0.35 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
51.04 |
51.65 |
33.92 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.11 |
1.37 |
1.50 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
298.11 |
227.19 |
139.89 |
|
INVENTORY TURNOVER |
TIMES |
1.22 |
1.61 |
2.61 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
57.83 |
60.54 |
85.71 |
|
RECEIVABLES TURNOVER |
TIMES |
6.31 |
6.03 |
4.26 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
482.36 |
413.17 |
329.83 |
|
CASH CONVERSION CYCLE |
DAYS |
(126.41) |
(125.44) |
(104.23) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
79.30 |
78.01 |
82.19 |
|
SELLING & ADMINISTRATION |
% |
25.49 |
20.06 |
20.41 |
|
INTEREST |
% |
0.10 |
0.09 |
0.10 |
|
GROSS PROFIT MARGIN |
% |
27.10 |
21.33 |
21.43 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.61 |
1.27 |
1.02 |
|
NET PROFIT MARGIN |
% |
0.73 |
0.83 |
0.62 |
|
RETURN ON EQUITY |
% |
- |
- |
- |
|
RETURN ON ASSET |
% |
0.81 |
1.14 |
0.93 |
|
EARNING PER SHARE |
BAHT |
3.32 |
4.68 |
3.27 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
1.33 |
1.34 |
1.41 |
|
DEBT TO EQUITY RATIO |
TIMES |
(4.01) |
(3.95) |
(3.43) |
|
TIME INTEREST EARNED |
TIMES |
15.59 |
14.90 |
10.23 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(19.26) |
7.84 |
|
|
OPERATING PROFIT |
% |
2.81 |
34.09 |
|
|
NET PROFIT |
% |
(29.06) |
43.10 |
|
|
FIXED ASSETS |
% |
(18.30) |
(29.18) |
|
|
TOTAL ASSETS |
% |
(0.52) |
17.66 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -19.26%. Turnover has decreased from THB
84,816,019.14 in 2011 to THB 68,476,449.52 in 2012. While net profit has
decreased from THB 702,288.21 in 2011 to THB 498,202.89 in 2012. And total
assets has decreased from THB 61,765,253.57 in 2011 to THB 61,446,210.61 in
2012.
PROFITABILITY : RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
27.10 |
Acceptable |
Industrial Average |
42.74 |
|
Net Profit Margin |
0.73 |
Deteriorated |
Industrial Average |
1.65 |
|
Return on Assets |
0.81 |
Deteriorated |
Industrial Average |
3.20 |
|
Return on Equity |
- |
|
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 27.1%. 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 0.73%.
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 0.81%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.78 |
Risky |
Industrial Average |
1.48 |
|
Quick Ratio |
0.16 |
|
|
|
|
Cash Conversion Cycle |
(126.41) |
|
|
|
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 0.78 times in 2012, increased from 0.75 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 0.16 times in 2012,
decreased from 0.20 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 -127 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
1.33 |
Risky |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
(4.01) |
Risky |
Industrial Average |
1.83 |
|
Times Interest Earned |
15.59 |
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 15.59 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 1.33
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 |
51.04 |
Impressive |
Industrial Average |
1.33 |
|
Total Assets Turnover |
1.11 |
Acceptable |
Industrial Average |
1.93 |
|
Inventory Conversion Period |
298.11 |
|
|
|
|
Inventory Turnover |
1.22 |
Deteriorated |
Industrial Average |
5.00 |
|
Receivables Conversion Period |
57.83 |
|
|
|
|
Receivables Turnover |
6.31 |
Impressive |
Industrial Average |
3.39 |
|
Payables Conversion Period |
482.36 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.31 and 6.03 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 increased from 227 days at the
end of 2011 to 298 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 1.61 times in year 2011 to 1.22 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.11 times and 1.37
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.66.57 |
|
UK Pound |
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
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.