MIRA
INFORM REPORT
|
Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
UTIDS ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
215, 217, 219 Ratchadapisek Road, Bukkalo, Thonburi, Bangkok 10600 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
22.04.1985 |
|
|
|
|
Com. Reg. No.: |
0105528014122 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturing and distributing wide range of industrial chemicals |
|
|
|
|
No. of Employees : |
250 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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
UTIDS ENTERPRISE
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 215,
217, 219 RATCHADAPISEK
ROAD, BUKKALO,
THONBURI, BANGKOK
10600, THAILAND
TELEPHONE : [66] 2878-9090,
2476-9995
FAX :
[66] 2878-9208
E-MAIL
ADDRESS : utids@utids.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1985
REGISTRATION
NO. : 0105528014122
TAX
ID NO. : 3751001982
CAPITAL REGISTERED : BHT. 125,000,000
CAPITAL PAID-UP : BHT.
125,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PHAO KOOKIATNAN,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 250
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
MANUFACTURER, IMPORTER
AND DISTRIBUTOR
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 April 22,
1985 as a
private limited company
under the name
style UTIDS ENTERPRISE CO., LTD.,
by Thai groups.
Its business objective
is to manufacture,
import and distribute
wide range of
industrial chemicals to
domestic market. Subject
currently employs approximately
250 staff.
Subject also
achieved the standard
ISO 9001 : 2000 and ISO 14001 : 2004
certification.
The
subject’s registered address
is 215, 217, 219 Ratchadapisek
Rd., Bukkalo, Thonburi,
Bangkok 10600, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Phao Kookiatnan |
[x] |
Thai |
78 |
|
Mrs. Malee Kookiatnan |
|
Thai |
73 |
|
Mr. Preechai Kookiatnan |
[-] |
Thai |
49 |
|
Mr. Sanchai Kookiatnan |
[-] |
Thai |
40 |
AUTHORIZED PERSON
Only the mentioned
director [x] can
sign or both
of the mentioned
directors [-] can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Phao Kookiatnan is
the Managing Director.
He is Thai
nationality with the
age of 78
years old.
Mrs. Malee Kookiatnan is
the Financial &
Accounting Manager.
She is Thai
nationality with the
age of 73
years old.
Mr. Preechai Kookiatnan is
the Sales & Marketing Manager.
He is Thai
nationality with the
age of 49
years old.
Mr. Sanchai Kookiatnan is
the Factory Manager.
He is Thai
nationality with the
age of 40
years old.
BUSINESS OPERATIONS
The subject’s
core business is
engaged in manufacturing
and distributing wide
range of industrial
chemicals, such as Aluminium
Sulphate, Copper Sulphate, Copper
Carbonate, Ferrous Sulphate,
Formic Acid, Magnesium
Sulphate, Phosphoric Acid,
Sodium Sulphate, Sulphur,
Sulphuric Acid, Zinc
Oxide, Zinc Sulphate
and etc., as
well as importing and
distributing of industrial
chemicals, such as Aluminium
Hydroxide, Calcined Magnesite,
Lithophone, Manganese Sulphate,
Potassium Permanganate, Soda
Ash Light, Sodium
Formate and etc.,
for agricultural & feed
additives, ceramics, glasses,
cosmetics, electroplating, coatings,
food & drink, leather, paints, pharmaceuticals, petrochemicals, plastics,
pulp & paper, rubbers & latex,
steel & metals,
textiles, water treatment,
paints & dyestuff
industries and etc.
PURCHASE
Raw
chemicals and finished
products are purchased
from suppliers and
agents both domestic and
overseas, such as Japan, Republic of China,
Taiwan, Hong Kong, Singapore,
Indonesia, Malaysia, Spain,
Italy, France, India,
Germany, Africa, Australia,
United Kingdom, Belgium
and etc.
SALES
100% of the
products is sold
locally to wholesalers,
manufacturers and end-users.
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
L/C at sight
or T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
Kasikornbank
Public Co., Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
United
Overseas Bank [Thai]
Public Co., Ltd.
Citibank
N.A.
EMPLOYMENT
The
subject employs approximately 250
staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Factory and warehouse
are located at
51/12 Moo 5,
Ekachai Road, T. Khokkham,
A. Muang, Samutsakorn. Tel. :
[66] 34 834-268-9,
Fax. : [66] 34
834-633.
COMMENT
Subject
is a manufacturer,
importer and distributor of industrial
chemicals. The products are
served to various industries. Subject
reported good business
in 2012.
However,
industrial slowdown caused
by economy downturn
and slow consumption
has resulted to
negative outcome this
year.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 5,000,000 divided
into 50,000 shares of
Bht. 100 each.
The
capital was increased
later as follows:
Bht. 15,000,000
on September
23, 1993
Bht. 27,000,000
on September
28, 1998
Bht. 50,000,000
on December
21, 2001
Bht. 70,000,000
on September
26, 2002
Bht. 125,000,000
on February 28,
2013
The
latest registered capital was
increased to Bht. 125
million, divided into 1,250,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Phao Kookiatnan Nationality: Thai Address : 11/127
Moo 6, Kallapapruk Rd.,
Bangkhunthien, Jomthong, Bangkok |
875,000 |
70.00 |
|
Mrs. Malee Kookiatnan Nationality: Thai Address : 11/127
Moo 6, Kallapapruk Rd.,
Bangkhunthien, Jomthong,
Bangkok |
187,500 |
14.96 |
|
Mr. Preechai Kookiatnan Nationality: Thai Address : 51/12
Moo 5, T. Khokkham, A. Muang,
Samutsakorn
|
92,950 |
7.44 |
|
Mr. Sanchai Kookiatnan Nationality: Thai Address :
215, 217, 219
Ratchadapisek Rd., Bukkalo,
Thonburi, Bangkok |
92,950 |
7.44 |
|
Mrs. Supranee Dejpokkest Nationality: Thai Address : 11/127
Kallapapruk Rd., Bangkhunthien,
Jomthong, Bangkok |
800 |
0.08 |
|
Ms. Supinda Kookiatnan Nationality: Thai Address : 11/127
Moo 6, Kallapapruk Rd.,
Bangkhunthien, Jomthong, Bangkok |
799 |
0.08 |
|
Mr. Amnaj Limcharoen Nationality: Thai Address : 86/62
Wuthakas Rd., Taladphlu,
Thonburi, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
1,250,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
1,250,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sathaporn Koteeranurak No.
3349
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 |
11,306,159.38 |
2,049,546.04 |
354,310.13 |
|
Trade Accounts & Other Receivable |
195,676,974.95 |
201,039,915.97 |
202,048,174.33 |
|
Inventories |
213,949,333.54 |
176,243,418.57 |
138,932,538.37 |
|
Revenue Department Receivable |
2,189,462.78 |
- |
- |
|
Other Current Assets
|
402,475.99 |
161,557.56 |
156,736.81 |
|
|
|
|
|
|
Total Current Assets
|
423,524,406.64 |
379,494,438.14 |
341,491,759.64 |
|
|
|
|
|
|
Fixed Assets |
156,263,237.84 |
162,376,146.82 |
174,329,959.60 |
|
Other Non-current Assets |
954,134.78 |
973,954.89 |
869,834.31 |
|
Total Assets |
580,741,779.26 |
542,844,539.85 |
516,691,553.55 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
337,835,768.02 |
305,934,515.22 |
182,677,267.59 |
|
Trade Accounts & Other Payable
|
24,087,053.41 |
22,725,247.51 |
27,983,346.84 |
|
Current Portion of
Long-term Liabilities |
7,320,552.00 |
14,995,508.00 |
26,135,946.00 |
|
Short-term Loan |
135,000,000.00 |
135,000,000.00 |
244,900,000.00 |
|
Other Current Liabilities |
119,658.33 |
1,798,992.24 |
1,352,553.84 |
|
|
|
|
|
|
Total Current Liabilities |
504,363,031.76 |
480,454,262.97 |
483,049,114.27 |
|
Long-term Loan from Person or Related Company |
136,000,000.00 |
127,500,000.00 |
89,500,000.00 |
|
Long-term Loans |
7,840,000.00 |
13,600,000.00 |
28,110,000.00 |
|
Hire-purchase Payable |
1,944,907.00 |
728,262.00 |
- |
|
Employee Benefits Obligation |
4,436,950.98 |
- |
- |
|
Total Liabilities |
654,584,889.74 |
622,282,524.97 |
600,659,114.27 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 700,000 shares |
70,000,000.00 |
70,000,000.00 |
70,000,000.00 |
|
|
|
|
|
|
Capital Paid |
70,000,000.00 |
70,000,000.00 |
70,000,000.00 |
|
Retained Earning Unappropriated [Deficit] |
[143,843,110.48] |
[149,437,985.12] |
[153,967,560.72] |
|
Total Shareholders' Equity |
[73,843,110.48] |
[79,437,985.12] |
[83,967,560.72] |
|
Total Liabilities & Shareholders' Equity |
580,741,779.26 |
542,844,539.85 |
516,691,553.55 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
940,533,570.66 |
988,616,451.68 |
928,416,159.88 |
|
Other Income |
10,436,553.63 |
3,114,192.80 |
7,703,136.00 |
|
Total Revenues |
950,970,124.29 |
991,730,644.48 |
936,119,295.88 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
865,101,789.20 |
901,670,939.34 |
841,366,110.14 |
|
Selling Expenses |
16,453,246.17 |
14,713,799.97 |
9,044,881.65 |
|
Administrative Expenses |
31,149,543.54 |
42,080,473.31 |
35,466,660.04 |
|
Total Expenses |
912,704,578.91 |
958,465,212.62 |
885,877,651.83 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost |
38,265,545.38 |
33,265,431.86 |
50,241,644.05 |
|
Financial Cost |
[28,909,097.31] |
[28,735,856.26] |
[26,797,606.59] |
|
|
|
|
|
|
Net Profit / [Loss] |
9,356,448.07 |
4,529,575.60 |
23,444,037.46 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.84 |
0.79 |
0.71 |
|
QUICK RATIO |
TIMES |
0.41 |
0.42 |
0.42 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.02 |
6.09 |
5.33 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.62 |
1.82 |
1.80 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
90.27 |
71.34 |
60.27 |
|
INVENTORY TURNOVER |
TIMES |
4.04 |
5.12 |
6.06 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
75.94 |
74.22 |
79.43 |
|
RECEIVABLES TURNOVER |
TIMES |
4.81 |
4.92 |
4.60 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
10.16 |
9.20 |
12.14 |
|
CASH CONVERSION CYCLE |
DAYS |
156.04 |
136.37 |
127.57 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.98 |
91.21 |
90.62 |
|
SELLING & ADMINISTRATION |
% |
5.06 |
5.74 |
4.79 |
|
INTEREST |
% |
3.07 |
2.91 |
2.89 |
|
GROSS PROFIT MARGIN |
% |
9.13 |
9.11 |
10.21 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.07 |
3.36 |
5.41 |
|
NET PROFIT MARGIN |
% |
0.99 |
0.46 |
2.53 |
|
RETURN ON EQUITY |
% |
- |
- |
- |
|
RETURN ON ASSET |
% |
1.61 |
0.83 |
4.54 |
|
EARNING PER SHARE |
BAHT |
13.37 |
6.47 |
33.49 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
1.13 |
1.15 |
1.16 |
|
DEBT TO EQUITY RATIO |
TIMES |
(8.86) |
(7.83) |
(7.15) |
|
TIME INTEREST EARNED |
TIMES |
1.32 |
1.16 |
1.87 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(4.86) |
6.48 |
|
|
OPERATING PROFIT |
% |
15.03 |
(33.79) |
|
|
NET PROFIT |
% |
106.56 |
(80.68) |
|
|
FIXED ASSETS |
% |
(3.76) |
(6.86) |
|
|
TOTAL ASSETS |
% |
6.98 |
5.06 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is -4.86%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
9.13 |
Deteriorated |
Industrial
Average |
34.03 |
|
Net Profit Margin |
0.99 |
Deteriorated |
Industrial
Average |
2.12 |
|
Return on Assets |
1.61 |
Deteriorated |
Industrial
Average |
4.25 |
|
Return on Equity |
- |
|
Industrial
Average |
9.43 |
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 9.13%. 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 0.99%.
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 1.61%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.84 |
Risky |
Industrial
Average |
1.40 |
|
Quick Ratio |
0.41 |
|
|
|
|
Cash Conversion Cycle |
156.04 |
|
|
|
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 0.84 times in 2012, increased from 0.79 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 0.41 times in 2012,
decreased from 0.42 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 157 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
1.13 |
Risky |
Industrial
Average |
0.61 |
|
Debt to Equity Ratio |
(8.86) |
Risky |
Industrial
Average |
1.56 |
|
Times Interest Earned |
1.32 |
Impressive |
Industrial
Average |
- |
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 1.33 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 1.13 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 |
6.02 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.62 |
Satisfactory |
Industrial
Average |
2.01 |
|
Inventory Conversion Period |
90.27 |
|
|
|
|
Inventory Turnover |
4.04 |
Deteriorated |
Industrial
Average |
8.42 |
|
Receivables Conversion Period |
75.94 |
|
|
|
|
Receivables Turnover |
4.81 |
Impressive |
Industrial
Average |
3.65 |
|
Payables Conversion Period |
10.16 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.81 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 increased from 71 days at the
end of 2011 to 90 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 5.12 times in year 2011 to 4.04 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.62 times and 1.82
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.62.24 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.