MIRA INFORM REPORT
|
Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMITY BOHAN CO., LTD. |
|
|
|
|
Registered Office : |
16, 18, 20, 22 Soi Petchkasem 102/2, Bangkaenua, Bangkae, Bangkok 10160 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
01.04.1998 |
|
|
|
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Com. Reg. No.: |
0105541021064 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Ladies Shoes |
|
|
|
|
No. of Employees : |
200 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly machinery and electronic components, agricultural commodities, and jewelry - continue to drive the economy, accounting for more than half of GDP. The global financial crisis of 2008-09 severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. In 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded from their depressed 2009 level. Steady economic growth at just below 4% during the first three quarters of 2011 was interrupted by historic flooding in October and November in the industrial areas north of Bangkok, crippling the manufacturing sector and leading to a revised growth rate of only 0.1% for the year. The industrial sector is poised to recover from the second quarter of 2012 onward, however, and the government anticipates the economy will probably grow between 5.5 and 6.5% for 2012, while private sector forecasts range between 3.8% and 5.7%.
Source
: CIA
Company name
AMITY
BOHAN CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 16, 18, 20, 22 SOI
PETCHKASEM 102/2, BANGKAENUA,
BANGKAE, BANGKOK
10160, THAILAND
TELEPHONE : [66] 2809-2396,
087 905-6301
FAX :
[66] 2809-2395,
2421-3355
E-MAIL
ADDRESS : marketing@amityadvance.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1998
REGISTRATION
NO. : 0105541021064
TAX
ID NO. : 3011923689
CAPITAL REGISTERED : BHT. 4,500,000
CAPITAL PAID-UP : BHT.
4,500,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
ITTHIPONG TANTIRUNGROTECHAI, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 200
LINES
OF BUSINESS : LADIES SHOES
MANUFACTURER, 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 April 1,
1998 as a
private limited company
under the registered
name AMITY BOHAN
CO., LTD., by Thai groups,
with the business
objective to manufacture
and distribute wide
range of ladies
shoes for both
domestic and oversea markets.
It currently employs
approximate 200 staff.
The
subject’s registered address
was initially located
at 106-109 Moo 4,
Petchkasem Rd., Laksong,
Bangkae, Bangkok 10160.
On
March 18, 2010, its
registered address was
relocated to 16, 18, 20, 22 Soi
Petchkasem 102/2,
Bangkaenua, Bangkae, Bangkok
10160, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Itthipong Tantirungrotechai |
|
Thai |
56 |
|
Mrs. Sarinya Tantirungrotechai |
|
Thai |
53 |
AUTHORIZED PERSON
Both of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Itthipong Tantirungrotechai is
the Managing Director.
He is Thai
nationality with the
age of 56
years old.
Mrs. Sarinya
Tantirungrotechai is the
General Manager.
She is Thai
nationality with the
age of 53
years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting wide range
of ladies shoes, including
wedding shoes, casual
shoes and other
leather ladies shoes,
under its own
brands “POLO CLUB”
and “SIRENA”.
PURCHASE
Most
of raw materials such as
finished and semi-finished
leather and accessories
are purchased from
local suppliers, the
remaining is imported
from United Kingdom.
SALES [LOCAL]
80% of the
products is sold
locally by retail
to end-users through
the shoes section
at the leading
department stores such
as Central Department
Store, Robinson Department
Store, The Mall
Shopping Center, Siam
Paragon and others.
EXPORT
20% of the
products is exported
to United Kingdom,
France and Italy.
SUBSIDIARY AND AFFILIATED
COMPANY
Amity Advance Co.,
Ltd.
Business Type : Manufacturer of
shoes
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 sigt or
T/T.
Exports are against
T/T.
BANKING
The
banker’s name was
not disclosed.
EMPLOYMENT
The
subject currently employs
approximately 200 office
staff and factory
workers.
LOCATION DETAILS
The
premise is owned for
administrative office, factory I
and warehouse at
the heading address.
Premise is located
in commercial/residential area.
Factory
II is located
at 121-122 Moo
4, Petchkasem Rd.,
Laksong, Bangkae,
Bangkok
10160.
COMMENT
Subject
reported increased its sales
in 2011 compared to
the previous year’s
level, while domestic
market of ladies shoes
is still. Subject has
stable business for
over decade, but growth
is at slow pace.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000 shares
of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 2,000,000
on July 24,
2008
Bht. 4,500,000
on February 11,
2010
The
latest registered capital
was increased to
Bht. 4,500,000 divided into
45,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 29, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Itthipong Tantirungrotechai Nationality: Thai Address : 39/3
Moo 7, Nongkangplu, Nongkaem,
Bangkok |
20,500 |
45.56 |
|
Mrs. Sarinya Tantirungrotechai Nationality: Thai Address : 39/3
Moo 7, Nongkangplu, Nongkaem,
Bangkok |
19,500 |
43.34 |
|
Ms. Saowaluck Tantirungrotechai Nationality: Thai Address : 39/3
Moo 7, Nongkangplu, Nongkaem,
Bangkok |
1,000 |
2.22 |
|
Ms. Sirirat Tantirungrotechai Nationality: Thai Address : 201/14
Petchkasem Rd., Wadthaphra,
Bangkokyai, Bangkok |
1,000 |
2.22 |
|
Mr. Vichai Likitpithayatrakul Nationality: Thai Address : 209
Loei-Dansai Rd., Gudporng,
Muang, Loei |
1,000 |
2.22 |
|
Ms. Viyada Likitpithayatrakul Nationality: Thai Address : 209
Loei-Dansai Rd., Gudporng,
Muang, Loei |
1,000 |
2.22 |
|
Mr. Somsak Likitpithayatrakul Nationality: Thai Address : 121/55
Moo 5, Sanoloy,
Bangbuathong,
Nonthaburi |
1,000 |
2.22 |
Total Shareholders : 7
Share Structure [as
at April 29,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
45,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
45,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Pornthip Khaoreang No.
5474
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
523,898.81 |
446,299.70 |
66,571.07 |
|
Trade Accounts &
Other Receivable |
8,722,346.92 |
14,021,202.10 |
17,365,815.99 |
|
Inventories |
2,224,300.70 |
429,814.88 |
631,788.40 |
|
Other Current Assets
|
9,078.44 |
9,000.84 |
26,523.70 |
|
|
|
|
|
|
Total Current Assets
|
11,479,624.87 |
14,906,317.52 |
18,090,699.16 |
|
|
|
|
|
|
Fixed Assets |
387,114.89 |
377,596.07 |
499,009.75 |
|
Other Non-current Assets |
171,180.00 |
91,115.00 |
31,000.00 |
|
Total Assets |
12,037,919.76 |
15,375,028.59 |
18,620,708.91 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
1,000,000.00 |
1,000,000.00 |
4,025,740.24 |
|
Trade Accounts &
Note Payable |
1,631,601.90 |
1,730,290.90 |
516,875.90 |
|
Current Portion of
Long-term Liabilities |
- |
49,399.66 |
142,285.53 |
|
Accrued Income Tax |
52,776.58 |
12,006.96 |
- |
|
Other Current Liabilities |
136,689.92 |
372,460.25 |
1,379,140.02 |
|
|
|
|
|
|
Total Current Liabilities |
2,821,068.40 |
3,164,157.77 |
6,064,041.69 |
|
Long-term Loan from Person or Related Company |
- |
3,708,000.00 |
7,230,000.00 |
|
Long-term Loan from Person
or Other Company |
- |
- |
49,399.66 |
|
Total Liabilities |
2,821,068.40 |
6,872,157.77 |
13,343,441.35 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 45,000 shares
in 2011 & 2010;
20,000 shares in 2009 respectively |
4,500,000.00 |
4,500,000.00 |
2,000,000.00 |
|
|
|
|
|
|
Capital Paid |
4,500,000.00 |
4,500,000.00 |
2,000,000.00 |
|
Retained Earning Unappropriated |
4,716,851.36 |
4,002,870.82 |
3,277,267.56 |
|
Total Shareholders' Equity |
9,216,851.36 |
8,502,870.82 |
5,277,267.56 |
|
Total Liabilities & Shareholders' Equity |
12,037,919.76 |
15,375,028.59 |
18,620,708.91 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales & Services Income |
41,802,821.23 |
40,421,623.70 |
40,898,044.66 |
|
Other Income |
45,381.08 |
279,186.24 |
9,663.34 |
|
Total Revenues |
41,848,202.31 |
40,700,809.94 |
40,907,708.00 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
20,632,837.05 |
20,312,996.93 |
22,308,945.86 |
|
Selling Expenses |
2,366,749.82 |
2,220,532.05 |
2,004,515.74 |
|
Administrative Expenses |
18,000,150.07 |
17,273,064.01 |
15,037,625.19 |
|
Other Expenses |
1,035.36 |
- |
119,491.42 |
|
Total Expenses |
41,000,772.30 |
39,806,592.99 |
39,470,578.21 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
847,430.01 |
894,216.95 |
1,437,129.79 |
|
Financial Cost |
[33,941.06] |
[95,371.30] |
[235,305.13] |
|
Profit / [Loss] before Income
Tax |
813,488.95 |
798,845.65 |
1,201,824.66 |
|
Income Tax |
[99,508.41] |
[73,242.39] |
[208,967.56] |
|
|
|
|
|
|
Net Profit / [Loss] |
713,980.54 |
725,603.26 |
992,857.10 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
4.07 |
4.71 |
2.98 |
|
QUICK RATIO |
TIMES |
3.28 |
4.57 |
2.87 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
107.99 |
107.05 |
81.96 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.47 |
2.63 |
2.20 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
39.35 |
7.72 |
10.34 |
|
INVENTORY TURNOVER |
TIMES |
9.28 |
47.26 |
35.31 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
76.16 |
126.61 |
154.98 |
|
RECEIVABLES TURNOVER |
TIMES |
4.79 |
2.88 |
2.36 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
28.86 |
31.09 |
8.46 |
|
CASH CONVERSION CYCLE |
DAYS |
86.64 |
103.24 |
156.86 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
49.36 |
50.25 |
54.55 |
|
SELLING & ADMINISTRATION |
% |
48.72 |
48.23 |
41.67 |
|
INTEREST |
% |
0.08 |
0.24 |
0.58 |
|
GROSS PROFIT MARGIN |
% |
50.75 |
50.44 |
45.48 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.03 |
2.21 |
3.51 |
|
NET PROFIT MARGIN |
% |
1.71 |
1.80 |
2.43 |
|
RETURN ON EQUITY |
% |
7.75 |
8.53 |
18.81 |
|
RETURN ON ASSET |
% |
5.93 |
4.72 |
5.33 |
|
EARNING PER SHARE |
BAHT |
15.87 |
16.12 |
49.64 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.23 |
0.45 |
0.72 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.31 |
0.81 |
2.53 |
|
TIME INTEREST EARNED |
TIMES |
24.97 |
9.38 |
6.11 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
3.42 |
(1.16) |
|
|
OPERATING PROFIT |
% |
(5.23) |
(37.78) |
|
|
NET PROFIT |
% |
(1.60) |
(26.92) |
|
|
FIXED ASSETS |
% |
2.52 |
(24.33) |
|
|
TOTAL ASSETS |
% |
(21.70) |
(17.43) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 3.42%. Turnover has increased from THB 40,421,623.70
in 2010 to THB 41,802,821.23 in 2011. While net profit has decreased from THB
725,603.26 in 2010 to THB 713,980.54 in 2011. And total assets has decreased
from THB 15,375,028.59 in 2010 to THB 12,037,919.76 in 2011.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
50.75 |
Impressive |
Industrial
Average |
19.63 |
|
Net Profit Margin |
1.71 |
Deteriorated |
Industrial
Average |
4.22 |
|
Return on Assets |
5.93 |
Impressive |
Industrial
Average |
1.26 |
|
Return on Equity |
7.75 |
Impressive |
Industrial
Average |
7.37 |
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 50.75%. 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 1.71%.
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. Return on Assets ratio is
5.93%, 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 7.75%, 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 :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
4.07 |
Impressive |
Industrial
Average |
0.34 |
|
Quick Ratio |
3.28 |
|
|
|
|
Cash Conversion Cycle |
86.64 |
|
|
|
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 4.07 times in 2011, decreased from 4.71 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 3.28 times in 2011,
decreased from 4.57 times, although excluding inventory so the company still
have good short-term financial strength.
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 87 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.23 |
Impressive |
Industrial
Average |
0.47 |
|
Debt to Equity Ratio |
0.31 |
Impressive |
Industrial
Average |
0.18 |
|
Times Interest Earned |
24.97 |
Impressive |
Industrial
Average |
(3,397.64) |
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 24.97 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 0.23 less than 0.5, most of the company's
assets are financed through equity.
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 |
107.99 |
Impressive |
Industrial
Average |
(26.37) |
|
Total Assets Turnover |
3.47 |
Impressive |
Industrial
Average |
1.29 |
|
Inventory Conversion Period |
39.35 |
|
|
|
|
Inventory Turnover |
9.28 |
Impressive |
Industrial
Average |
(0.08) |
|
Receivables Conversion Period |
76.16 |
|
|
|
|
Receivables Turnover |
4.79 |
Impressive |
Industrial
Average |
(6.24) |
|
Payables Conversion Period |
28.86 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.79 and 2.88 in
2011 and 2010 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 2011
increased from 2010. 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 8 days at the end
of 2010 to 39 days at the end of 2011. This represents a negative trend. And
Inventory turnover has decreased from 47.26 times in year 2010 to 9.28 times in
year 2011.
The company's Total Asset Turnover is calculated as 3.47 times and 2.63
times in 2011 and 2010 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.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
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.