MIRA
INFORM REPORT
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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
KumlOonthep & Associate Enterprise Co.,
Ltd. |
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Formerly Known As : |
K & F
SCRUM BUSINESS CO.,
LTD. |
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Registered Office : |
86/6 Soi Horpak Khunying Issara, Ngamwongwan Road, Ladyao, Jatujak, Bangkok 10900 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.09.2009 |
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Com. Reg. No.: |
0105552096893 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
-- |
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No. of Employees : |
-- |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
No Activity |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
KUMLOONTHEP & ASSOCIATE ENTERPRISE
CO., LTD.
[FORMER
: K & F SCRUM
BUSINESS CO., LTD.]
SUMMARY
BUSINESS
ADDRESS : 86/6
SOI HORPAK KHUNYING
ISSARA,
NGAMWONGWAN ROAD,
LADYAO,
JATUJAK, BANGKOK
10900
TELEPHONE : [66] 2579-1281
FAX :
[66] 2579-1281
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2009
REGISTRATION
NO. : 0105552096893
TAX
ID NO. : 3033608403
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : -
NO.
OF STAFF : -
LINES
OF BUSINESS : -
CORPORATE PROFILE
OPERATING
TREND : -
PRESENT
SITUATION : NO
ACTIVITY
REPUTATION : -
MANAGEMENT
STANDARD : -
HISTORY
The subject was established on September 10, 2009 as a private limited company under the originally registered name “K & F Scrum Business Co., Ltd.” by Thai groups. On July 28, 2010, its registered name was changed to KUMLOONTHEP & ASSOCIATE ENTERPRISE CO., LTD., with the aim to operate in tourist business. However, the subject has not started any business activity yet.
The subject’s registered address is 86/6 Soi Horpak Khunying Issara, Ngamwongwan Rd., Ladyao, Jatujak, Bangkok 10900, and this is the subject’s current operation address.
THE BOARD
OF DIRECTOR
[as
of September 10,
2009]
Ms. Anchanin Sutthidej
Ms. Yapaka Srisermpoka
Mrs. Sansanee Benjavilas
THE
BOARD OF DIRECTOR [as
of July 28,
2010]
Mr. Charoen Feung-arom
Gen. Chuchart Suksaguan
Mr. Prasarn Pitoonkijja
Mr. Chote Potiwongsajarn
THE
BOARD OF DIRECTOR [as
of August 27,
2010]
Mr. Charoen Feung-arom
Mr. Prasarn Pitoonkijja
Mr. Chote Potiwongsajarn
THE
BOARD OF DIRECTOR [as
of January 29,
2013]
M.L. Surapong Dhevakul
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
LOCATION DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
COMMENT
Since
its establishment in 2009,
the subject has
not started any
business activity. Subject
reported its income
from interest only. Any
business engagement is
not recommended.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE :
[as at
April 30, 2011]
|
NAME |
HOLDING |
% |
|
|
|
|
|
M.L. Kamloonthep Dhevakul Nationality: Thai Address : 86/6
Soi Horpak Khunying
Issara,
Ngamwongwan Rd., Ladyao,
Jatujak,
Bangkok 10900 |
9,998 |
99.98 |
|
Mr. Chote Potiwongsajarn Nationality: Thai Address : 99/16
Moo 8, Tharaeng,
Bangkhen,
Bangkok |
1 |
0.01 |
|
Mr. Prasarn Pitoonkijja Nationality: Thai Address : 16/61
Soi Suayai-uthis, Chankasem,
Jatujak, Bangkok |
1 |
0.01 |
Total Shareholders : 3
Share Structure [as
at April 30,
2011]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
10,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
10,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Chavalit Chanthim No.
3215
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 |
274,000.00 |
290,000.00 |
290,000.00 |
|
Other Receivable |
28,000.00 |
14,000.00 |
- |
|
Short-term Loan |
700,000.00 |
700,000.00 |
700,000.00 |
|
|
|
|
|
|
Total Current Assets
|
1,002,000.00 |
1,004,000.00 |
990,000.00 |
|
Total Assets |
1,002,000.00 |
1,004,000.00 |
990,000.00 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Other Payable |
10,000.00 |
16,000.00 |
- |
|
Other Current Liabilities |
- |
- |
10,000.00 |
|
|
|
|
|
|
Total Current Liabilities |
10,000.00 |
16,000.00 |
10,000.00 |
|
Total Liabilities |
10,000.00 |
16,000.00 |
10,000.00 |
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Shareholders' Equity |
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|
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|
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|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
|
|
|
|
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning Unappropriated |
[8,000.00] |
[12,000.00] |
[20,000.00] |
|
Total Shareholders' Equity |
992,000.00 |
988,000.00 |
980,000.00 |
|
Total Liabilities & Shareholders' Equity |
1,002,000.00 |
1,004,000.00 |
990,000.00 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
Sept. 10,
2009- Dec.
31, 2009 |
|
|
|
|
|
|
Other Income-Interest Income |
14,000.00 |
14,000.00 |
- |
|
Total Revenues |
14,000.00 |
14,000.00 |
- |
|
Expenses |
|
|
|
|
|
|
|
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Administrative Expenses |
10,000.00 |
6,000.00 |
10,000.00 |
|
Other Expenses |
- |
- |
10,000.00 |
|
Total Expenses |
10,000.00 |
6,000.00 |
20,000.00 |
|
Profit before Income
Tax |
4,000.00 |
8,000.00 |
[20,000.00] |
|
Income Tax |
- |
- |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
4,000.00 |
8,000.00 |
[20,000.00] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
100.20 |
62.75 |
99.00 |
|
QUICK RATIO |
TIMES |
100.20 |
62.75 |
99.00 |
|
|
|
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|
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|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
- |
- |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
- |
- |
- |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
RECEIVABLES TURNOVER |
TIMES |
- |
- |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
CASH CONVERSION CYCLE |
DAYS |
- |
- |
- |
|
|
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|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
- |
- |
- |
|
SELLING & ADMINISTRATION |
% |
- |
- |
- |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
- |
- |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
- |
- |
|
NET PROFIT MARGIN |
% |
- |
- |
- |
|
RETURN ON EQUITY |
% |
0.40 |
0.81 |
(2.04) |
|
RETURN ON ASSET |
% |
0.40 |
0.80 |
(2.02) |
|
EARNING PER SHARE |
BAHT |
0.40 |
0.80 |
(2.00) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.01 |
0.02 |
0.01 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.01 |
0.02 |
0.01 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
- |
- |
|
|
OPERATING PROFIT |
% |
(50.00) |
(140.00) |
|
|
NET PROFIT |
% |
(50.00) |
140.00 |
|
|
FIXED ASSETS |
% |
- |
- |
|
|
TOTAL ASSETS |
% |
(0.20) |
1.41 |
|
ANNUAL GROWTH :
RISKY
Net profit has decreased from THB 8,000.00 in 2010 to THB 4,000.00 in
2011. And total assets has decreased from THB 1,004,000.00 in 2010 to THB
1,002,000.00 in 2011.
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial Average |
16.55 |
|
Net Profit Margin |
- |
|
Industrial Average |
(0.69) |
|
Return on Assets |
0.40 |
Impressive |
Industrial Average |
(1.21) |
|
Return on Equity |
0.40 |
Impressive |
Industrial Average |
(2.45) |
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. The company’s figure is 0.4%, 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. The company’s figure is 0.4%, 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 :
EXCELLENT
LIQUIDITY RATIO
|
Current Ratio |
100.20 |
Impressive |
Industrial Average |
1.77 |
|
Quick Ratio |
100.20 |
|
|
|
|
Cash Conversion Cycle |
- |
|
|
|
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 100.2 times in 2011, increased from 62.75 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 100.2 times in 2011,
increased from 62.75 times, although excluding inventory so the company still
have good short-term financial strength.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.01 |
Impressive |
Industrial Average |
0.50 |
|
Debt to Equity Ratio |
0.01 |
Impressive |
Industrial Average |
0.97 |
|
Times Interest Earned |
- |
|
Industrial Average |
0.07 |
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.01 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 : RISKY
ACTIVITY RATIO
|
Fixed Assets Turnover |
- |
|
Industrial Average |
3.25 |
|
Total Assets Turnover |
- |
|
Industrial Average |
1.68 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
34.43 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
3.02 |
|
Payables Conversion Period |
- |
|
|
|
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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.