MIRA
INFORM REPORT
|
Report Date : |
20.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
EMERALD NONWOVENS INTERNATIONAL CO., LTD. |
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Registered Office : |
88, 88/1 Moo 2, T. Nongchumphon Nua, A. Khaoyoi, Petchaburi 76140 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
17.05.2001 |
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Com. Reg. No.: |
0735544000844 [Former :
NOR. THOR. 2848]
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer and Exporter of Disposable Medical
Supplies |
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|
No. of Employees : |
600 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
EMERALD NONWOVENS INTERNATIONAL CO., LTD.
SUMMARY
BUSINESS ADDRESS : 88, 88/1 MOO
2, T. NONGCHUMPHON
NUA,
A. KHAOYOI,
PETCHABURI 76140
TELEPHONE : [66] 32
566-000-6
FAX : [66] 32
566-088
E-MAIL ADDRESS : kai@emerald-nw.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2001
REGISTRATION NO. : 0735544000844 [Former
: NOR. THOR.
2848]
TAX ID NO. : 3701032509
CAPITAL REGISTERED : BHT.
126,000,000
CAPITAL PAID-UP : BHT.
126,000,000
SHAREHOLDER’S PROPORTION : TAIWANESE :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS.
YANG, CHING-PING, TAIWANESE
MANAGING DIRECTOR
NO. OF STAFF : 600
LINES OF BUSINESS : DISPOSABLE MEDICAL
SUPPLIES
MANUFACTURER 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 May
17, 2001 as
a private limited
company under the
name style EMERALD
NONWOVENS INTERNATIONAL CO.,
LTD. by Taiwanese
groups, with the
business objective to
manufacture wide range
of disposable medical
supplies for exports.
The subject currently
employs approximately 600 staff.
The subject’s registered
address was initially
located at 23/302
Moo 8, Soi
Pongsirichai 1, Petchkasem
Rd., T. Omyai,
A. Sampran, Nakornpathom
73160.
In 2005, the
registered address was
relocated to 88,
88/1 Moo 2,
T. Nongchumphon Nua, A.
Khaoyoi, Petchaburi 76140,
and this is
the company’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Yang, Ching-Ping |
|
Taiwanese |
44 |
|
Mr. Wang, Chao-Chi |
|
Taiwanese |
45 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mrs. Yang, Ching-Ping
is the Managing
Director.
She is Taiwanese
nationality with the
age of 44 years
old.
She has been
in this position
since 2001.
Ms. Krisana Utama is
the General Manager and
Administration & Human
Resource Manager.
She is Thai
nationality with the
age of 32
years old.
She has been in this
position since 2001.
Mr. Somkid Vornyin
is the Factory
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and exporting wide
range of disposable
medical supplies such
as mask, surgical
& sanitary gown,
gloves, shoes cover,
bed sheet, curtain, pillow
cover and slippers
for hospital used.
PURCHASE
Raw materials such
as fabric, paper, polypropylene [PP] spunbond
and etc., are
purchased from both
local and overseas
suppliers. 80% of
raw materials is
purchased from local
suppliers, the remaining
20% is imported
from Taiwan, Germany,
U.S.A., U.K., Republic
of China and
Japan.
MAJOR SUPPLIERS
Little Repids Corporation : U.S.A.
Narula Nonwoven Co.,
Ltd. : Thailand
EXPORT [COUNTRY]
100% of its
products is exported to
United States of America, Taiwan,
Indonesia, Singapore, Canada,
Australia, New Zealand,
and countries in
Africa and Europe region.
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
CREDIT
Local bills are
paid by cash
or on the
credits term of 30-60 days.
Imports are by
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Bank of Ayudhya
Public Co., Ltd.
EMPLOYMENT
The subject employs
approximately 600 staff.
[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
provincial, in the
Southern region.
Other factories are
located at the
followings:
Factory II :
88/2 Moo 2, T. Nongchumphon
Nua, A. Khaoyoi,
Petchaburi 76140.
Factory III : 88/3
Moo 2, T.
Nongchumphon Nua, A.
Khaoyoi, Petchaburi 76140.
COMMENT
Strong demand of
medical supplies in
overseas markets has
resulted to a
good business. Subject
reported strong business grown
for the past
several years. High quality
products have enabled subject to
be one of the leading
manufactures of disposable
medical supplies in
the region. Subject
is also tap into the
growing demand of
the products in
overseas.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 10,000,000 divided
into 100,000 shares
of Bht. 100 each.
The capital was
increased later as
follows:
Bht. 11,000,000
on August 7,
2001
Bht. 21,000,000
on August 8,
2002
Bht. 56,000,000
on February 15,
2007
Bht. 66,000,000
on June 30,
2008
Bht. 126,000,000
on December 21,
2010
The latest registered
capital was increased
to Bht. 126,000,000
divided into 1,260,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Yang, Ching-Ping Nationality: Taiwanese Address : Taipei, Taiwan |
600,000 |
47.61 |
|
Mr. Yang, Shih-Hsiung Nationality: Taiwanese Address : Taipei, Taiwan |
200,000 |
15.87 |
|
Mr. Yang, Shih-Pin Nationality: Taiwanese Address : Taipei, Taiwan |
200,000 |
15.87 |
|
Ms. Yu, Hsiu-Chi Nationality: Taiwanese Address : Taipei, Taiwan |
100,000 |
7.94 |
|
Mr. Wang, Chao-Chi Nationality: Taiwanese Address : Taipei, Taiwan |
100,000 |
7.94 |
|
Mrs. Yang, Lin Fuzu
Nationality: Taiwanese Address : Taipei, Taiwan |
20,000 |
1.59 |
|
Mr. Yang, Mu-Chun Nationality: Taiwanese Address : 8
North Tsong Zing
Rd., Taipei, Taiwan |
20,000 |
1.59 |
|
Mrs. Lee, Hsueh-Hsia Nationality: Taiwanese Address : 8
North Tsong Zing
Rd., Taipei, Taiwan |
20,000 |
1.59 |
Total Shareholders : 8
Share Structure
[as at April
30, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign-Taiwanese |
8 |
1,260,000 |
100.00 |
|
Total |
8 |
1,2600,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Thongsuk Jerdrangsee
No. 710
BALANCE SHEET [BAHT]
The latest financial
figures published for
December 31, 2011,
2010 & 2009
were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
31,554,332.62 |
31,261,900.37 |
41,296,911.70 |
|
Trade Accounts &
Other Receivable |
170,523,353.31 |
146,137,529.72 |
172,583,121.65 |
|
Inventories |
136,245,844.60 |
182,341,146.03 |
232,987,425.43 |
|
Other Current Assets
|
13,207,306.60 |
61,055,357.31 |
36,396,379.44 |
|
|
|
|
|
|
Total Current Assets
|
351,530,837.13 |
420,795,933.43 |
483,263,838.22 |
|
Fixed Assets |
210,701,530.36 |
131,575,579.95 |
121,231,529.61 |
|
Other Non-current Assets |
1,559,227.82 |
1,661,844.46 |
1,318,960.86 |
|
Total Assets |
563,791,595.31 |
554,033,357.84 |
605,814,328.69 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Short-term Loan from Financial Institution |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Trade Accounts &
Notes Payable |
300,609,655.23 |
308,562,665.50 |
450,454,720.04 |
|
Current Portion of
Installment Payable |
- |
- |
150,797.11 |
|
Current Portion of
Long-term Loan |
- |
271,536.48 |
- |
|
Other Current Liabilities |
7,314,634.51 |
6,897,982.24 |
6,335,991.45 |
|
|
|
|
|
|
Total Current Liabilities |
327,924,289.74 |
335,732,184.22 |
476,941,508.60 |
|
Hire-purchase Payable |
- |
113,140.20 |
- |
|
Loan from Financial Institution |
6,925,906.08 |
14,570,738.48 |
21,909,165.67 |
|
Total Liabilities |
6,925,906.08 |
350,416,062.90 |
498,850,674.27 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 1,260,000 shares in 2011
& 2010; 660,000
shares in 2009
respectively |
126,000,000.00 |
126,000,000.00 |
66,000,000.00 |
|
|
|
|
|
|
Capital Paid |
126,000,000.00 |
126,000,000.00 |
66,000,000.00 |
|
Retained Earning Appropriated for
Statutory Reserve |
3,799,255.89 |
3,799,255.89 |
3,799,255.89 |
|
Unappropriated |
99,142,143.60 |
73,818,039.05 |
37,164,398.53 |
|
Total Shareholders' Equity |
228,941,399.49 |
203,617,294.94 |
106,963,654.42 |
|
Total Liabilities &
Shareholders' Equity |
563,791,595.31 |
554,033,357.84 |
605,814,328.69 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales |
1,108,597,712.34 |
1,115,100,610.74 |
1,241,974,289.95 |
|
Other Income |
12,122,272.22 |
37,236,144.75 |
12,548,607.00 |
|
Total Revenues |
1,120,719,984.56 |
1,152,336,755.49 |
1,254,522,896.95 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,028,712,477.43 |
1,051,485,855.33 |
1,154,283,242.50 |
|
Selling Expenses |
26,176,022.41 |
26,216,230.06 |
23,697,932.39 |
|
Administrative Expenses |
36,669,818.87 |
33,892,026.16 |
41,256,881.00 |
|
Total Expenses |
1,091,558,318.71 |
1,111,594,111.55 |
1,219,238,055.89 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
29,161,665.85 |
40,742,643.94 |
35,284,841.06 |
|
Financial Cost |
[1,832,428.73] |
[2,020,362.30] |
[2,408,971.49] |
|
Profit / [Loss] before Income
Tax |
27,329,237.12 |
38,722,281.64 |
37,693,812.55 |
|
Income Tax |
[2,005,132.57] |
[2,068,641.12] |
[841,084.86] |
|
|
|
|
|
|
Net Profit / [Loss] |
25,324,104.55 |
36,653,640.52 |
32,034,784.71 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.07 |
1.25 |
1.01 |
|
QUICK RATIO |
TIMES |
0.62 |
0.53 |
0.45 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.26 |
8.47 |
10.24 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.97 |
2.01 |
2.05 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
48.34 |
63.30 |
73.67 |
|
INVENTORY TURNOVER |
TIMES |
7.55 |
5.77 |
4.95 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
56.14 |
47.83 |
50.72 |
|
RECEIVABLES TURNOVER |
TIMES |
6.50 |
7.63 |
7.20 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
106.66 |
107.11 |
142.44 |
|
CASH CONVERSION CYCLE |
DAYS |
(2.17) |
4.02 |
(18.05) |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.79 |
94.30 |
92.94 |
|
SELLING & ADMINISTRATION |
% |
5.67 |
5.39 |
5.23 |
|
INTEREST |
% |
0.17 |
0.18 |
0.19 |
|
GROSS PROFIT MARGIN |
% |
8.30 |
9.04 |
8.07 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.63 |
3.65 |
2.84 |
|
NET PROFIT MARGIN |
% |
2.28 |
3.29 |
2.58 |
|
RETURN ON EQUITY |
% |
11.06 |
18.00 |
29.95 |
|
RETURN ON ASSET |
% |
4.49 |
6.62 |
5.29 |
|
EARNING PER SHARE |
BAHT |
20.10 |
29.09 |
48.54 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.01 |
0.63 |
0.82 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.03 |
1.72 |
4.66 |
|
TIME INTEREST EARNED |
TIMES |
15.91 |
20.17 |
14.65 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.58) |
(10.22) |
|
|
OPERATING PROFIT |
% |
(28.42) |
15.47 |
|
|
NET PROFIT |
% |
(30.91) |
14.42 |
|
|
FIXED ASSETS |
% |
60.14 |
8.53 |
|
|
TOTAL ASSETS |
% |
1.76 |
(8.55) |
|
ANNUAL GROWTH : ACCEPTABLE
An annual sales growth is -0.58%. Turnover has decreased from THB
1,115,100,610.74 in 2010 to THB 1,108,597,712.34 in 2011. While net profit has
decreased from THB 36,653,640.52 in 2010 to THB 25,324,104.55 in 2011. And
total assets has increased from THB 554,033,357.84 in 2010 to THB 563,791,595.31
in 2011.
PROFITABILITY : RISKY
PROFITABILITY RATIO
|
Gross Profit Margin |
8.30 |
Acceptable |
Industrial Average |
11.61 |
|
Net Profit Margin |
2.28 |
Deteriorated |
Industrial Average |
5.70 |
|
Return on Assets |
4.49 |
Deteriorated |
Industrial Average |
12.89 |
|
Return on Equity |
11.06 |
Deteriorated |
Industrial Average |
22.44 |
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 8.3%. 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 2.28%.
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 4.49%.
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. When compared with the
industry average, it was lower, the company's figure is 11.06%.
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 |
1.07 |
Acceptable |
Industrial Average |
2.02 |
|
Quick Ratio |
0.62 |
|
|
|
|
Cash Conversion Cycle |
(2.17) |
|
|
|
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 1.07 times in 2011, decreased from 1.25 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 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 0.62 times in 2011,
increase from 0.53 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 -3 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.01 |
Impressive |
Industrial Average |
0.59 |
|
Debt to Equity Ratio |
0.03 |
Impressive |
Industrial Average |
1.00 |
|
Times Interest Earned |
15.91 |
Deteriorated |
Industrial Average |
32.29 |
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 15.92 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 0.01 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 Uptrend
Times Interest Earned Uptrend
ACTIVITY : ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.26 |
Acceptable |
Industrial Average |
7.30 |
|
Total Assets Turnover |
1.97 |
Acceptable |
Industrial Average |
3.28 |
|
Inventory Conversion Period |
48.34 |
|
|
|
|
Inventory Turnover |
7.55 |
Acceptable |
Industrial Average |
11.90 |
|
Receivables Conversion Period |
56.14 |
|
|
|
|
Receivables Turnover |
6.50 |
Deteriorated |
Industrial Average |
15.86 |
|
Payables Conversion Period |
106.66 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.50 and 7.63 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
decreased from 2010. This would suggest the company had deteriorated 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 63 days at the
end of 2010 to 48 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 5.77 times in year 2010 to 7.55 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.97 times and 2.01
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 Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.72.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.