MIRA
INFORM REPORT
|
Report Date : |
19.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
RECKITT BENCKISER [THAILAND] LIMITED |
|
|
|
|
Registered Office : |
14th
Floor, K Tower, 209
Sukhumvit 21 Road,
Klongtoeynua, Wattana,
Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1983 |
|
|
|
|
Com. Reg. No.: |
0105526049522 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is engaged
in international trading
business, including import,
distribute and export wide range of consumer goods, household cleaning, health and personal care products |
|
|
|
|
No. of Employees : |
300 |
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 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
RECKITT BENCKISER
[THAILAND] LIMITED
SUMMARY
BUSINESS ADDRESS : 14th
FLOOR, K TOWER,
209 SUKHUMVIT
21 ROAD, KLONGTOEYNUA,
WATTANA, BANGKOK
10110
TELEPHONE : [66] 2685-2100
FAX : [66] 2664-0902-3
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1983
REGISTRATION NO. : 0105526049522
TAX ID NO. : 3101298772
CAPITAL REGISTERED : BHT.
503,610,000
CAPITAL PAID-UP : BHT.
503,610,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. ATAUR RASHID
SAFDAR, INDIAN
GENERAL
MANAGER
NO. OF STAFF : 300
LINES OF BUSINESS : INTERNATIONAL TRADING
COMPANY
IMPORTER, DISTRIBUTOR
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 November
25, 1983 as
a private limited
company under the originally registered
name “Reckitt & Colman
[Thailand] Ltd.” by
multi-national groups. On May 18, 2000, subject’s name
was changed to RECKITT
BENCKISER [THAILAND] LIMITED.
Its objective is to
import, distribute and export
wide range of
consumer goods and
health products. It
currently employs approximately 300
staff.
Subject is a
wholly owned subsidiary
of Reckitt Benckiser
Holding [Thailand] Limited.
The subject’s registered address is 14th Flr., K Tower,
209 Sukhumvit 21 Rd., Klongtoeynua, Wattana,
Bangkok 10110, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Martyn Stuart Hilton |
|
British |
38 |
|
Ms. Piangchit Sriprasart |
|
Thai |
40 |
|
Mr. Ashish Gupta |
|
Indian |
35 |
|
Mr. Ataur Rashid Safdar |
|
Indian |
53 |
|
Mr. Chander Mohan Sethi |
|
Indian |
64 |
AUTHORIZED PERSON
Any two of
the above directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Ataur Rashid Safdar is
the General Manager.
He is Indian
nationality with the
age of 53
years old.
Mr. Kevin Harshow is
the Marketing Manager.
He is British
nationality.
Mr. Chalermchai Theerakul is
the Sales Manager.
He is Thai
nationality.
Mr. Muksitul Isalim is
the Marketing Manager [Personal Care].
He is Thai
nationality.
Ms. Chitsai Sukkaew is
the Marketing Manager [Health Care].
She is Thai
nationality.
Ms. Wanpen Ketchanchai is
the Senior Brand
Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged
in international trading
business, including import,
distribute and export wide range of consumer goods, household cleaning, health and personal care products, such as “SHIELDTOX” pest controls,
“DETTOL” antiseptic products, “STREPSILS” lozenge products, “VANISH”
fabric treatment, “GAVISCON”
pharmaceutical, “DUREX” condoms,
“SENOKOT” stimulant laxative,
“MUEINEX” medicines, “VEET”
personal cares, “EASY
OF BANG” power
cleaner and
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly U.K.,
Pakistan, India and
Republic of China.
MAJOR SUPPLIERS
Reckitt Benckiser Healthcare
Manufacturing [Thailand] Ltd. : Thailand
Reckitt Benckiser Healthcare
[Thailand] Ltd. : Thailand
Reckitt & Colman of Pakistan
Ltd. : Pakistan
Reckitt Benkiser Healthcare
Ltd. : U.K.
Reckitt Benckiser [U.K.]
Ltd. : U.K.
SALES
The products are
sold by wholesale
to traders both
local and overseas
in Malaysia, Singapore, Vietnam, Australia, Hong
Kong, Japan, Taiwan,
Philippines and New
Zealand.
SUBSIDIARY AND
AFFILIATED COMPANIES
Reckitt Benckiser Healthcare
[Thailand] Ltd.
Business Type :
Manufacturer &
distributor of Healthcare
products
Reckitt Benckiser Healthcare
Manufacturing [Thailand] Ltd.
Business Type :
Manufacturer of consumer
products
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 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.
Exports are against
T/T.
BANKING
Citibank NA.
Kasikornbank Public Co.,
Ltd.
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 300 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
COMMENT
The subject’s business
performance was considered
outstanding comparing to
the previous year. With
the improvement of economy
has prompted the subject to
increase its sales
volume to meet with
rising demand. The
sales prospect remains strong, as well
as moderate growth
is expected to
continue throughout the
year.
FINANCIAL INFORMATION
The capital was
registered at Bht.
2,000,000 divided into
20,000 shares of
Bht. 100 each.
The capital was
increased/decreased later as
following:
Bht. 4,000,000
on December 28,
1998
Bht. 102,440,000 on
May 18, 2000
Bht. 25,610,000 on
April 2, 2004
[decreased]
Bht. 503,610,000 on
November 8, 2011
[increased]
The latest registered
capital was increased
to Bht. 503,610,000
divided into 5,036,100
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at April
30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Reckitt Benckiser Holding
[Thailand] Limited Nationality: Thai Address :
209 Sukhumvit 21
Rd., Klongtoeynua,
Wattana, Bangkok |
5,036,090 |
100.00 |
|
Mr. Prapas Sakunwat Nationality: Thai Address : 41/13
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok |
3 |
- |
|
Mr. Peeranand Poolsawad Nationality: Thai Address : 48/123-124
Isaraphap Rd., Wadthaphra,
Bangkokyai, Bangkok |
3 |
- |
|
Ms. Duangduan Na Nan Nationality: Thai Address : 96/4
Soi Noppaklao, Bangsue,
Bangkok |
1 |
- |
|
Mr. Udomchai Leesin Nationality: Thai Address : 81/110
Moo 6, Sukhumvit
Rd., Suanluang, Bangkok |
1 |
- |
|
Mr. Ekapol Apinand Nationality: Thai Address : 65/71
Pracharaj 1 Rd.,
Bangsue, Bangkok |
1 |
- |
|
Mr. Itthipol Saengsawang Nationality: Thai Address : 21/67
Sukhumvit 62 Rd.,
Bangchak,
Prakanong, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure
[as at April
30, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
5,036,100 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
5,036,100 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Kajornkiat
Aroonpairojanakul No. 3445
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 |
262,617,680 |
105,865,282 |
64,023,398 |
|
Trade Accounts & Other Receivable |
480,626,529 |
536,970,414 |
432,442,510 |
|
Inventories |
199,897,966 |
245,125,675 |
99,172,824 |
|
Investment in Subsidiaries |
14,500,000 |
1,450,000,000 |
- |
|
Long-term Lending to Related
Company |
508,769,178 |
- |
12,715,831 |
|
Deferred Value Added Tax |
18,897,975 |
16,977,888 |
- |
|
Other Current Assets
|
509,366 |
2,656,714 |
12,169,976 |
|
|
|
|
|
|
Total Current Assets
|
1,485,818,694 |
2,357,595,973 |
620,524,539 |
|
|
|
|
|
|
Fixed Assets |
5,801,256 |
2,927,304 |
2,191,505 |
|
Deposit |
4,299,650 |
1,660,300 |
1,557,500 |
|
Total Assets |
1,495,919,600 |
2,362,183,577 |
624,273,544 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
743,100,646 |
601,028,995 |
299,441,842 |
|
Loan from Related Company |
764,734,348 |
934,287,339 |
63,828,650 |
|
Accrued Income Tax |
43,332,395 |
5,364,503 |
29,395,596 |
|
Accrued Expenses |
423,792,940 |
322,194,508 |
246,912,112 |
|
Other Current Liabilities |
20,028,919 |
19,524,698 |
21,321,852 |
|
|
|
|
|
|
Total Current Liabilities |
1,994,989,248 |
1,882,400,043 |
660,900,052 |
|
|
|
|
|
|
Employee Benefits Obligation |
15,341,835 |
5,839,411 |
4,869,438 |
|
Total Liabilities |
2,010,331,083 |
1,888,239,454 |
665,769,490 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 5,036,100 shares in 2012 & 2011; 256,000
shares in 2010 |
503,610,000 |
503,610,000 |
25,610,000 |
|
|
|
|
|
|
Capital Paid |
503,610,000 |
503,610,000 |
25,610,000 |
|
Surplus from Business Merger
under the Same
Control |
[1,167,178,760] |
- |
- |
|
Retained Earnings: Appropriated for Statutory Reserve |
10,244,000 |
10,244,000 |
10,244,000 |
|
Unappropriated |
138,913,277 |
[39,909,877] |
[77,349,946] |
|
Total Shareholders' Equity |
[514,411,483] |
473,944,123 |
[41,495,946] |
|
Total Liabilities & Shareholders' Equity |
1,495,919,600 |
2,362,183,577 |
624,273,544 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
2,930,998,232 |
1,958,897,053 |
1,566,265,852 |
|
Gain on Exchange Rate |
- |
- |
5,173,028 |
|
Service Income |
42,273,175 |
31,678,660 |
37,639,228 |
|
Other Income |
1,441,002,093 |
337,268 |
1,836,886 |
|
Total Revenues |
4,414,273,500 |
1,990,912,981 |
1,610,914,994 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,350,707,025 |
987,887,530 |
763,912,289 |
|
Selling Expenses |
805,740,294 |
571,300,071 |
474,467,348 |
|
Administrative Expenses |
520,614,999 |
351,370,424 |
278,998,491 |
|
Other Expenses |
1,435,625,644 |
4,024,939 |
- |
|
Total Expenses |
4,112,687,962 |
1,914,582,964 |
1,517,378,128 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
301,585,538 |
76,330,017 |
93,536,866 |
|
Financial Cost |
[67,713,824] |
[16,366,771] |
[4,200,690] |
|
Profit / [Loss] before Income Tax |
233,871,714 |
59,963,246 |
89,336,176 |
|
Income Tax |
[55,048,560] |
[22,523,177] |
[33,855,272] |
|
|
|
|
|
|
Net Profit / [Loss] |
178,823,154 |
37,440,069 |
55,480,904 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.74 |
1.25 |
0.94 |
|
QUICK RATIO |
TIMES |
0.37 |
0.34 |
0.75 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
512.52 |
680.00 |
731.87 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.99 |
0.84 |
2.57 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
54.02 |
90.57 |
47.39 |
|
INVENTORY TURNOVER |
TIMES |
6.76 |
4.03 |
7.70 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
59.00 |
98.46 |
98.41 |
|
RECEIVABLES TURNOVER |
TIMES |
6.19 |
3.71 |
3.71 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
200.81 |
222.07 |
143.07 |
|
CASH CONVERSION CYCLE |
DAYS |
(87.79) |
(33.04) |
2.72 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
45.43 |
49.63 |
47.63 |
|
SELLING & ADMINISTRATION |
% |
44.61 |
46.35 |
46.98 |
|
INTEREST |
% |
2.28 |
0.82 |
0.26 |
|
GROSS PROFIT MARGIN |
% |
103.04 |
50.39 |
52.81 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.14 |
3.83 |
5.83 |
|
NET PROFIT MARGIN |
% |
6.01 |
1.88 |
3.46 |
|
RETURN ON EQUITY |
% |
- |
7.90 |
- |
|
RETURN ON ASSET |
% |
11.95 |
1.58 |
8.89 |
|
EARNING PER SHARE |
BAHT |
178.82 |
37.44 |
55.48 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
1.34 |
0.80 |
1.07 |
|
DEBT TO EQUITY RATIO |
TIMES |
(3.91) |
3.98 |
(16.04) |
|
TIME INTEREST EARNED |
TIMES |
4.45 |
4.66 |
22.27 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
49.37 |
24.11 |
|
|
OPERATING PROFIT |
% |
295.11 |
(18.40) |
|
|
NET PROFIT |
% |
377.63 |
(32.52) |
|
|
FIXED ASSETS |
% |
98.18 |
33.58 |
|
|
TOTAL ASSETS |
% |
(36.67) |
278.39 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 49.37%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
103.04 |
Impressive |
Industrial Average |
17.01 |
|
Net Profit Margin |
6.01 |
Impressive |
Industrial Average |
1.77 |
|
Return on Assets |
11.95 |
Impressive |
Industrial Average |
6.49 |
|
Return on Equity |
- |
|
Industrial Average |
18.53 |
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 103.04%. 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 6.01%,
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
11.95%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.74 |
Risky |
Industrial Average |
1.17 |
|
Quick Ratio |
0.37 |
|
|
|
|
Cash Conversion Cycle |
(87.79) |
|
|
|
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 0.74 times in 2012, decreased from 1.25 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,
increased from 0.34 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 -88 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
1.34 |
Risky |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
(3.91) |
Risky |
Industrial Average |
1.77 |
|
Times Interest Earned |
4.45 |
Impressive |
Industrial Average |
0.86 |
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 higher the percentage means that the company is
using less equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 4.46 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 1.34 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
512.52 |
Impressive |
Industrial Average |
4.12 |
|
Total Assets Turnover |
1.99 |
Acceptable |
Industrial Average |
3.77 |
|
Inventory Conversion Period |
54.02 |
|
|
|
|
Inventory Turnover |
6.76 |
Acceptable |
Industrial Average |
11.58 |
|
Receivables Conversion Period |
59.00 |
|
|
|
|
Receivables Turnover |
6.19 |
Impressive |
Industrial Average |
5.83 |
|
Payables Conversion Period |
200.81 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.19 and
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 91 days at the
end of 2011 to 54 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 4.03 times in year 2011 to 6.76 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.99 times and 0.84
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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.