MIRA
INFORM REPORT
|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
P.O.P.
INTERTRADE COMPANY LIMITED |
|
|
|
|
Registered Office : |
832
Ladprao Wanghin Road, Ladprao, Bangkok
10230 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.03.2001 |
|
|
|
|
Com. Reg. No.: |
0105544025397 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importing, distributing and
exporting foods and
packaged foods |
|
|
|
|
No. of Employees : |
10 |
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 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
P.O.P. INTERTRADE COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 832
LADPRAO WANGHIN ROAD,
LADPRAO, BANGKOK
10230, THAILAND
TELEPHONE : [66] 2570-8031,
2578-6150-1
FAX :
[66] 2942-3130
E-MAIL
ADDRESS : chanchai@popintertrade.com
sales@popintertrade.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2001
REGISTRATION
NO. : 0105544025397 [Former : [2] 379/2544]
TAX
ID NO. : 3030246608
CAPITAL REGISTERED : BHT. 10,000,000
CAPITAL PAID-UP : BHT.
10,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. CHANCHAI OURAIRAT,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 10
LINES
OF BUSINESS : FOODS
AND PACKAGED FOODS
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established on March
14, 2001 as
a private limited
company under the
name style P.O.P.
INTERTRADE COMPANY LIMITED
by Thai groups,
with the business
objective to operate
in trading business
specially in foods
and packaged foods.
It currently employs
10 staff.
The
subject’s registered address
was initially located
at 3/317 Moo 11,
Sukhapibal 1 Rd., Ladprao, Bangkok
10230. On June
25, 2012, its
registered address was
changed to 832 Ladprao Wanghin Rd.,
Ladprao, Bangkok 10230,
by the Ladprao
District Office, which they
are the same
location. This is
also the subject’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chanchai Ourairat |
|
Thai |
45 |
|
Mrs. Supatra Ourairat |
|
Thai |
42 |
|
Mrs. Hatairat Chaleawpong |
|
Thai |
64 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Chanchai Ourairat is
the Managing Director.
He is Thai
nationality with the
age of 45 years
old.
BUSINESS OPERATIONS
The subject is engaged
in international trading
business by importing,
distributing and exporting
foods and packaged
foods as follows:
Import/Distribute
- Frozen
seafood: long tail
frozen tuna, yellow fin frozen
tuna, skipjack frozen
tuna, frozen tuna
loin, Indian mackerel, cuttle
fish, sardine mackerel and
reef cod red fish.
- Tuna
processing line: thawing
bin, dumper, butchering conveyor, pre-cooker, side
spray, cleaning conveyor, pack
shaper, weighting conveyor, gravity
filler, can washer
machine, retort basket,
retort machine, steam
jacket tank, flaker,
sizing conveyor and
seamer.
- Fresh
fruits
Export
- Food
items: canned foods,
seafood products, rice
vermicelli, tapioca flour,
gluten rice flour,
monk bean flour,
modified starch, freeze-dried products
- Packaging:
empty can & end, paper
label for can,
retort pouches, plastic
cover, sticker, shrink
wrap, stretch film
and plastic slip
sheet
PURCHASE
The products are purchased
from suppliers both domestic and
overseas, mainly in
Malaysia, Republic of
China, Germany, Taiwan,
Australia, New Zealand,
Pakistan and India.
SALES
The products are
sold locally by
wholesale to dealers
and end-users.
EXPORT
The products are
exported to Republic
of China, Indonesia,
Japan, Australia,
Hong Kong, European
and Middle East
countries.
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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
10 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
in a 3 storey building
of 1 row shop house at
the heading address.
Premise is located
in commercial/residential area.
COMMENT
Subject
reported an outstanding
sales in 2012. Strong
local consumption has
seen since 2011
and continue growing.
However,
increased exported products has
offset shrinking domestic
consumption and also contributed
to a moderate
sales.
FINANCIAL INFORMATION
The
capital was initially
registered at Bht. 1,000,000 divided
into 100,000 shares of
Bht. 10 each.
On
April 24, 2006,
the capital was
increased to Bht. 10,000,000 divided
into 1,000,000 shares of
Bht. 10 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Chanchai Ourairat Nationality: Thai Address : 4
Ladprao Wanghin Rd., Ladprao,
Bangkok |
500,000 |
50.00 |
|
Mrs. Supatra Ourairat Nationality: Thai Address : 4
Ladprao Wanghin Rd., Ladprao,
Bangkok |
499,995 |
49.99 |
|
Mr. Monchai Chaleawpong Nationality: Thai Address : 125
Nipat-uthit 1 Rd.,
Hadyai, Songkhla |
1 |
|
|
Mr. Porames Chaleawpong Nationality: Thai Address :
63/2 Padungdonyor Rd.,
Kuhasawan, Muang, Pattalung |
1 |
|
|
Mr. Peerapat Chaleawpong Nationality: Thai Address : 47
Thamnoonvithi Rd., Hadyai,
Songkhla |
1 |
= 0.01 |
|
Mr. Chairat Chaleawpong Nationality: Thai Address : 47
Thamnoonvithi Rd., Hadyai,
Songkhla |
1 |
|
|
Mrs. Hatairat Chaleawpong Nationality: Thai Address : 125
Nipat-uthit 1 Rd.,
Hadyai, Songkhla |
1 |
|
Total Shareholders : 7
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
1,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
1,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Naowarat Sutthiveerawat No.
6735
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 |
5,582,377.08 |
640,443.21 |
137,376.66 |
|
Trade Accounts Receivable |
50,088,050.10 |
56,375,347.05 |
69,000,515.66 |
|
Inventories |
1,187,189.90 |
1,837,440.00 |
2,527,324.20 |
|
Lending to Person & Related
Company |
16,443,204.00 |
13,933,847.34 |
1,403,644.46 |
|
Other Current Assets
|
338,349.54 |
- |
431,386.56 |
|
|
|
|
|
|
Total Current Assets
|
73,639,170.62 |
72,787,077.60 |
73,500,247.54 |
|
Cash at Bank Pledged as
a Collateral |
5,160,256.49 |
5,061,233.69 |
5,224,056.76 |
|
Investment in Other Company |
2,550,000.00 |
2,550,000.00 |
1,530,000.00 |
|
Fixed Assets |
13,035.74 |
20,623.92 |
97,505.33 |
|
Total Assets |
81,362,462.85 |
80,418,935.21 |
80,351,809.63 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft from Financial Institutions |
- |
- |
981,492.04 |
|
Trade Accounts & Other Payable |
11,624,166.65 |
18,000,959.84 |
11,199,946.15 |
|
Payable Trust Receipt |
47,809,409.99 |
41,729,005.61 |
36,000,579.44 |
|
Current Portion of Long-term Liabilities |
2,995,200.00 |
- |
746,787.37 |
|
Loan from Director &
Related Company |
8,101,345.75 |
11,348,212.34 |
22,102,919.91 |
|
Other Current Liabilities |
238,464.29 |
3,051,769.01 |
510,453.16 |
|
|
|
|
|
|
Total Current Liabilities |
70,768,586.68 |
71,284,726.15 |
71,542,178.07 |
|
Other Long-term Liabilities |
917,847.59 |
- |
- |
|
Total Liabilities |
71,686,434.27 |
71,284,726.15 |
71,542,178.07 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value Authorized &
issued share capital 1,000,000 shares |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
|
|
|
|
|
Capital Paid |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
Retained Earning Unappropriated [Deficit] |
[323,971.42] |
[865,790.94] |
[1,190,368.44] |
|
Total Shareholders' Equity |
9,676,028.58 |
9,134,209.06 |
8,809,631.56 |
|
Total Liabilities & Shareholders' Equity |
81,362,462.85 |
80,418,935.21 |
80,351,809.63 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Services |
269,899,664.75 |
192,553,051.60 |
129,469,157.68 |
|
Other Income |
5,987,362.47 |
2,689,101.11 |
5,268,903.69 |
|
Total Revenues |
275,887,027.22 |
195,242,152.71 |
134,738,061.37 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
262,137,820.79 |
183,951,996.12 |
123,197,154.25 |
|
Selling Expenses |
2,156,365.22 |
3,688,419.04 |
2,899,573.87 |
|
Administrative Expenses |
5,261,232.46 |
3,811,800.90 |
4,891,060.57 |
|
Other Expenses |
1,332,782.01 |
488,731.14 |
668,304.81 |
|
Total Expenses |
270,888,200.48 |
191,940,947.20 |
131,656,093.50 |
|
|
|
|
|
|
Profit / [Loss] Before Financial Cost &
Income Tax |
4,998,826.74 |
3,301,205.51 |
3,081,967.87 |
|
Financial Cost |
[4,243,476.39] |
[2,827,497.56] |
[2,866,830.64] |
|
Income Tax |
[175,325.17] |
[148,698.45] |
[136,952.16] |
|
|
|
|
|
|
Net Profit / [Loss] |
580,025.18 |
325,009.50 |
78,185.07 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.04 |
1.02 |
1.03 |
|
QUICK RATIO |
TIMES |
0.79 |
0.80 |
0.97 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
20,704.59 |
9,336.39 |
1,327.82 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.32 |
2.39 |
1.61 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
1.65 |
3.65 |
7.49 |
|
INVENTORY TURNOVER |
TIMES |
220.81 |
100.11 |
48.75 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
67.74 |
106.86 |
194.53 |
|
RECEIVABLES TURNOVER |
TIMES |
5.39 |
3.42 |
1.88 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
16.19 |
35.72 |
33.18 |
|
CASH CONVERSION CYCLE |
DAYS |
53.20 |
74.79 |
168.83 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
97.12 |
95.53 |
95.16 |
|
SELLING & ADMINISTRATION |
% |
2.75 |
3.90 |
6.02 |
|
INTEREST |
% |
1.57 |
1.47 |
2.21 |
|
GROSS PROFIT MARGIN |
% |
5.09 |
5.86 |
8.91 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.85 |
1.71 |
2.38 |
|
NET PROFIT MARGIN |
% |
0.21 |
0.17 |
0.06 |
|
RETURN ON EQUITY |
% |
5.99 |
3.56 |
0.89 |
|
RETURN ON ASSET |
% |
0.71 |
0.40 |
0.10 |
|
EARNING PER SHARE |
BAHT |
0.58 |
0.33 |
0.08 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.88 |
0.89 |
0.89 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.41 |
7.80 |
8.12 |
|
TIME INTEREST EARNED |
TIMES |
1.18 |
1.17 |
1.08 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
40.17 |
48.73 |
|
|
OPERATING PROFIT |
% |
51.42 |
7.11 |
|
|
NET PROFIT |
% |
78.46 |
315.69 |
|
|
FIXED ASSETS |
% |
(36.79) |
(78.85) |
|
|
TOTAL ASSETS |
% |
1.17 |
0.08 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 40.17%. Turnover has increased from THB
192,553,051.60 in 2011 to THB 269,899,664.75 in 2012. While net profit has
increased from THB 325,009.50 in 2011 to THB 580,025.18 in 2012. And total
assets has increased from THB 80,418,935.21 in 2011 to THB 81,362,462.85 in
2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
5.09 |
Acceptable |
Industrial
Average |
8.94 |
|
Net Profit Margin |
0.21 |
Impressive |
Industrial
Average |
(0.11) |
|
Return on Assets |
0.71 |
Impressive |
Industrial
Average |
(0.30) |
|
Return on Equity |
5.99 |
Impressive |
Industrial
Average |
(2.94) |
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 5.09%. 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 0.21%, 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 0.71%, 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.
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. Return on Equity ratio is 5.99%,
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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.04 |
Impressive |
Industrial
Average |
0.95 |
|
Quick Ratio |
0.79 |
|
|
|
|
Cash Conversion Cycle |
53.20 |
|
|
|
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 1.04 times in 2012, increased from 1.02 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
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 0.79 times in 2012,
decreased from 0.8 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 54 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.88 |
Acceptable |
Industrial
Average |
0.82 |
|
Debt to Equity Ratio |
7.41 |
Risky |
Industrial
Average |
4.52 |
|
Times Interest Earned |
1.18 |
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 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 1.18 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 0.88 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
20,704.59 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
3.32 |
Impressive |
Industrial
Average |
2.74 |
|
Inventory Conversion Period |
1.65 |
|
|
|
|
Inventory Turnover |
220.81 |
Impressive |
Industrial
Average |
3.90 |
|
Receivables Conversion Period |
67.74 |
|
|
|
|
Receivables Turnover |
5.39 |
Impressive |
Industrial
Average |
3.05 |
|
Payables Conversion Period |
16.19 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.39 and 3.42 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 4 days at the end
of 2011 to 2 days at the end of 2012. This represents a positive trend. And
Inventory turnover has increased from 100.11 times in year 2011 to 220.81 times
in year 2012.
The company's Total Asset Turnover is calculated as 3.32 times and 2.39
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.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
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.