MIRA
INFORM REPORT
|
Report Date : |
28.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
BOSCH AUTOMOTIVE [THAILAND] CO., LTD. |
|
|
|
|
Formerly Known As : |
BJKC [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
7/102 Moo 4, Amata City Industrial Estate, T. Mabyangporn, A. Pluakdaeng, Rayong 21140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
11.12.1996 |
|
|
|
|
Com. Reg. No.: |
0105539134205 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter & Distributor of Automobile Brake Equipments |
|
|
|
|
No. of Employees : |
400 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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
BOSCH
AUTOMOTIVE [THAILAND] CO., LTD.
[FORMER:
BJKC [THAILAND] CO., LTD.]
SUMMARY
BUSINESS
ADDRESS : 7/102
MOO 4, AMATA
CITY INDUSTRIAL ESTATE,
T. MABYANGPORN,
A. PLUAKDAENG,
RAYONG 21140,
THAILAND
TELEPHONE : [66] 38
958-888, 38 958-961
FAX :
[66] 38
958-997-8
E-MAIL
ADDRESS : aa.info@th.bosch.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1996
REGISTRATION
NO. : 0105539134205 [Former
: [1] 2500/2539]
TAX
ID NO. 3011795835
CAPITAL REGISTERED : BHT. 267,500,000
CAPITAL PAID-UP : BHT.
267,500,000
SHAREHOLDER’S PROPORTION : THAI :
12.15%
FOREIGN :
87.85%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
ALEXANDER RIESTERER, BELGIAN
MANAGING DIRECTOR
NO.
OF STAFF : 400
LINES
OF BUSINESS : AUTOMOBILE BRAKE
EQUIPMENTS
MANUFACTURER, EXPORTER
& DISTRIBUTOR
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 December
11, 1996 as
a private limited
company under the
registered name BJKC [THAILAND]
CO., LTD. by Thai and
foreign groups. The subject
received promotional privilege
from the Board
of Investment in
1997 to manufacture
brake boosters for
the automobile industry.
On February 17, 2004
the subject’s name was
changed to BOSCH AUTOMOTIVE
[THAILAND] CO., LTD.
It currently employs
approximately 400 staff.
Presently, the subject
is a subsidiary of
Bosch Corporation from
Japan, which is a member
of Robert Bosch
GmbH., in Germany
The subject was
awarded QS 9000
and ISO 9002
Certification from JQA
[Japan Quality Assurance
Organization], the internationally recognized
certification institute in
May 2001.
The subject’s registered
address is 7/102
Moo 4, Amata
City Industrial Estate,
T. Mabyangporn, A.
Pluakdaeng, Rayong 21140,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pornthep Pornprapa |
|
Thai |
65 |
|
Mr. Alexander Riesterer |
[x] |
Belgian |
44 |
|
Mr. Wolfgang Hiller |
[x] |
German |
53 |
|
Mr. Nobert Brosi |
[x] |
German |
49 |
AUTHORIZED PERSON
Two of the
mentioned directors [x] can
jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Alexander Riesterer is
the Managing Director.
He is Belgian
nationality with the
age of 44
years old..
Mr. Nobert Brosi is
the Executive Director
[Sales & Marketing].
He is German
nationality with the
age of 49
years old.
Mr. Matsuo Masaaki is the
Plant Manager.
He is Japanese
nationality.
Ms. Sumalee Petchnark
is the Personnel
& Administration Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity is a
manufacturer of Brake
Boosters, Master Cylinders,
ABS brake system
parts and common
rail fuel injection
system for automobiles
in accordance with
customer specifications. Most
of the products
are supplied to
many automotive assemblers,
namely “TOYOTA”, “FORD”,
“MAZDA”, “CHEVROLET”, “ISUZU” and
etc.
PRODUCTS
Vacuum Booster [Mater
Vac]
· Single Type
[8 inch, 9 inch]
· Tandem Type
[7+8 inch]
· Tandem Type
[8+9 inch]
Master
Cylinder
· Conventional Type
[7/8 inch, 15/16
inch]
· Insert Type
[1 inch]
ABS
brake system parts
Common
rail fuel injection
system [Diesel injection
system]
MAJOR
BRAND
“BOSCH”
IMPORT
[COUNTRIES]
80% of its
raw materials, steel
sheets and accessories
are purchased from
local suppliers and
agents, the remaining
20% is imported
from Japan, Germany,
Republic of China
and Taiwan.
MAJOR
SUPPLIER
Bosch
Corporation : Japan
SALES
[LOCAL]
80% of its
products are sold
locally by wholesale
to manufacturers and
wholesalers.
EXPORT
[COUNTRIES]
20% of
its products are
exported to Japan,
Brunei, Cambodia, Indonesia,
Malaysia, Myanmar, Philippines,
Taiwan, India, Singapore
and Vietnam.
MAJOR
CUSTOMERS
Siam
Motor Group : Thailand
Mazda Group : Thailand
Ford : Thailand
Toyota group : Thailand
Etc.
PARENT
COMPANY
Bosch Corporation
Address :
6-7 Shibuya, 3- Chome, Chibayaku,
Tokyo, Japan
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.
SUBSIDIARY AND
AFFILIATED COMPANY
The subject
is not found
to have any
subsidiary or affiliated
company here in Thailand.
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 and
T/T.
Exports
are against T/T.
BUSINESS TRANSACTION
In term of
sales the products
are sold mainly
by credit, with
the maximum credit given
at 30-60 days.
The subject is
found to have
late payment from a few customers, but
they can negotiate.
BANKING
Bangkok
Bank Public Co., Ltd.
[Sriracha Branch : 98 Sukhumvit
Rd., T. Nongkharm,
A. Sriracha, Cholburi
Province]
Deutsche
Bank AG.
[Bangkok Branch]
EMPLOYMENT
The
subject employs approximately 400
staff. [office, sales
staff and factory
workers]
LOCATION DETAILS
The
premise is owned
for administrative office
and factory at
the heading address.
Premise is located
in an industrial
area.
·
Site area : 32,000
square meters
Branch/ Sales Office :
-
23rd
Floor, Room 2302 B,
Liberty Square Building,
287 Silom Rd.,
Silom,
Bangrak,
Bangkok 10500. Tel. :
[66] 2639-3111
COMMENT
Increasing of
automobile parts was expected to be driven
by massive investments from leading
automobile assembling companies.
The subject still maintained its
leadership in automobile
brake and cylinder
manufacturers for both local
and international automobile
assemblers.
FINANCIAL INFORMATION
The capital was
registered at Bht. 162,500,000 divided
into 162,500 shares of
Bht. 1,000 each.
On July 28,
1998, the capital
was increased to
Bht. 267,500,000 divided
into 267,500 shares of
Bht. 1,000 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE : [as at
April 1, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Bosch Corporation Nationality: Japanese Address : 6-7 Shibuya,
3- Chome, Chibayaku, Tokyo, Japan
|
234,999 |
87.85 |
|
Siam Motor Co., Ltd. Nationality: Thai Address : 891/1 Rama 1 Rd.,
Wangmai,
Pathumwan, Bangkok |
32,500 |
12.15 |
|
Mr. Wolfgang Hiller
Nationality: German Address : 13/19
Honmugu-Wada, Nakuku,
Yokohama, Kanagawa, Japan |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 1,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
32,500 |
12.15 |
|
Foreign - Foreign |
2 |
235,000 |
87.85 |
|
Total |
3 |
267,500 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Prasit Yuengsrikul No.
4174
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash in hand
& Financial Institution |
1,083,224,852 |
903,521,609 |
685,580,503 |
|
Short-term Investment |
2,551,000 |
2,551,000 |
2,551,000 |
|
Trade Accounts &
Other Receivable |
527,094,259 |
754,184,930 |
596,564,683 |
|
Related Company Receivable |
- |
- |
10,119,707 |
|
Inventories |
632,491,687 |
484,839,005 |
415,569,686 |
|
Deposit for Purchase
of Land |
- |
- |
36,450,000 |
|
Other Current Assets
|
20,792,964 |
2,439,066 |
53,347,733 |
|
|
|
|
|
|
Total Current Assets
|
2,266,154,762 |
2,147,535,610 |
1,800,183,312 |
|
Fixed Assets
|
641,851,265 |
671,906,875 |
515,130,059 |
|
Royalty Fee |
65,835,331 |
84,992,833 |
135,353,171 |
|
Other Assets |
2,351,621 |
2,364,720 |
1,857,960 |
|
Total Assets |
2,976,192,979 |
2,906,800,038 |
2,452,524,502 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts & Other Payable |
635,945,811 |
714,888,074 |
545,245,846 |
|
Payable - Related Company |
- |
- |
96,869,036 |
|
Other Payable |
- |
- |
49,020,913 |
|
Compensation Reserve |
- |
- |
16,807,029 |
|
Accrued Income Tax |
38,713,285 |
68,670,643 |
- |
|
Other Current Liabilities |
5,977,229 |
7,084,499 |
67,410,299 |
|
|
|
|
|
|
Total Current Liabilities |
680,636,325 |
790,643,216 |
775,353,123 |
|
Employee Benefit Obligation |
11,002,453 |
- |
- |
|
|
|
|
|
|
Total Liabilities |
691,638,778 |
790,643,216 |
775,353,123 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
value authorized, issued
and fully paid share
capital 267,500 shares |
267,500,000 |
267,500,000 |
267,500,000 |
|
|
|
|
|
|
Capital Paid |
267,500,000 |
267,500,000 |
267,500,000 |
|
Statutory Reserve |
26,750,000 |
26,750,000 |
26,750,000 |
|
Retained Earning - Unappropriated |
1,990,304,201 |
1,821,906,822 |
1,382,921,379 |
|
Total Shareholders' Equity |
2,284,554,201 |
2,116,156,822 |
1,677,171,379 |
|
Total Liabilities & Shareholders'
Equity |
2,976,192,979 |
2,906,800,038 |
2,452,524,502 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales |
4,822,533,093 |
5,864,632,164 |
4,028,146,307 |
|
Other Income |
29,242,581 |
32,507,118 |
19,439,153 |
|
Total Revenues |
4,851,775,674 |
5,897,139,282 |
4,047,585,460 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
3,806,980,724 |
4,888,313,669 |
3,582,649,507 |
|
Selling Expenses |
98,050,995 |
115,772,282 |
91,181,681 |
|
Administrative Expenses |
422,185,299 |
287,744,133 |
259,426,924 |
|
Total Expenses |
4,327,217,018 |
5,291,830,084 |
3,933,258,112 |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
524,558,656 |
605,309,198 |
114,327,348 |
|
Income Tax |
[109,057,338] |
[128,013,599] |
[37,707,036] |
|
Net Profit / [Loss] |
415,501,318 |
477,295,599 |
76,620,312 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.33 |
2.72 |
2.32 |
|
QUICK RATIO |
TIMES |
2.37 |
2.10 |
1.67 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.51 |
8.73 |
7.82 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.62 |
2.02 |
1.64 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
60.64 |
36.20 |
42.34 |
|
INVENTORY TURNOVER |
TIMES |
6.02 |
10.08 |
8.62 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
39.89 |
46.94 |
54.06 |
|
RECEIVABLES TURNOVER |
TIMES |
9.15 |
7.78 |
6.75 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
60.97 |
53.38 |
55.55 |
|
CASH CONVERSION CYCLE |
DAYS |
39.56 |
29.76 |
40.84 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.94 |
83.35 |
88.94 |
|
SELLING & ADMINISTRATION |
% |
10.79 |
6.88 |
8.70 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
21.66 |
17.20 |
11.54 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.88 |
10.32 |
2.84 |
|
NET PROFIT MARGIN |
% |
8.62 |
8.14 |
1.90 |
|
RETURN ON EQUITY |
% |
18.19 |
22.55 |
4.57 |
|
RETURN ON ASSET |
% |
13.96 |
16.42 |
3.12 |
|
EARNING PER SHARE |
BAHT |
1,553.28 |
1,784.28 |
286.43 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.23 |
0.27 |
0.32 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.30 |
0.37 |
0.46 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(17.77) |
45.59 |
|
|
OPERATING PROFIT |
% |
(13.34) |
429.45 |
|
|
NET PROFIT |
% |
(12.95) |
522.94 |
|
|
FIXED ASSETS |
% |
(4.47) |
30.43 |
|
|
TOTAL ASSETS |
% |
2.39 |
18.52 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -17.77%. Turnover has decreased from THB
5,864,632,164.00 in 2010 to THB 4,822,533,093.00 in 2011. While net profit has
decreased from THB 477,295,599.00 in 2010 to THB 415,501,318.00 in 2011. And
total assets has increased from THB 2,906,800,038.00 in 2010 to THB
2,976,192,979.00 in 2011.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
21.66 |
Impressive |
Industrial
Average |
13.85 |
|
Net Profit Margin |
8.62 |
Impressive |
Industrial
Average |
6.07 |
|
Return on Assets |
13.96 |
Impressive |
Industrial
Average |
8.06 |
|
Return on Equity |
18.19 |
Impressive |
Industrial
Average |
12.81 |
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 21.66%. 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 8.62%, 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
13.96%, 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 18.19%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profits 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 :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
3.33 |
Impressive |
Industrial
Average |
1.69 |
|
Quick Ratio |
2.37 |
|
|
|
|
Cash Conversion Cycle |
39.56 |
|
|
|
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 3.33 times in 2011, increased from 2.72 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 2.37 times in 2011,
increased from 2.1 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 40 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.23 |
Impressive |
Industrial
Average |
0.37 |
|
Debt to Equity Ratio |
0.30 |
Impressive |
Industrial
Average |
0.59 |
|
Times Interest Earned |
- |
|
Industrial
Average |
17.56 |
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 0.23 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 Uptrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
7.51 |
Impressive |
Industrial
Average |
2.89 |
|
Total Assets Turnover |
1.62 |
Impressive |
Industrial
Average |
1.28 |
|
Inventory Conversion Period |
60.64 |
|
|
|
|
Inventory Turnover |
6.02 |
Acceptable |
Industrial
Average |
8.17 |
|
Receivables Conversion Period |
39.89 |
|
|
|
|
Receivables Turnover |
9.15 |
Impressive |
Industrial
Average |
5.56 |
|
Payables Conversion Period |
60.97 |
|
|
|
The company's Account Receivable Ratio is calculated as 9.15 and 7.78 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 36 days at the
end of 2010 to 61 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 10.08 times in year 2010 to 6.02
times in year 2011.
The company's Total Asset Turnover is calculated as 1.62 times and 2.02
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 Downtrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.83 |
|
|
1 |
Rs.81.24 |
|
Euro |
1 |
Rs.70.38 |
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.