MIRA
INFORM REPORT
|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
STREGA
CO., LTD. |
|
|
|
|
Registered Office : |
8/58 Moo 8, T. Buengkamproi, A. Lamlukka, Pathumthani 12150, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
23.11.1999 |
|
|
|
|
Com. Reg. No.: |
0105542090779 [Former :
[6]842/2542] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in contractor
and sub-contractor wide
range of services
for engineering construction, installation and
replacements, specialized in
underground utility installations and
replacements using horizontal
directional drilling [HDD] methods,
as well as
installation of underground
cables, conduits and
pipelines. |
|
|
|
|
No. of Employees : |
46 |
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 – 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 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
STREGA CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 8/58
MOO 8, T. BUENGKAMPROI, A.
LAMLUKKA,
PATHUMTHANI 12150,
THAILAND
TELEPHONE : [66] 2987-9667,
2549-2133-4, 2569-2258-9
FAX :
[66] 2987-9668
E-MAIL
ADDRESS : john_b@strega.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0105542090779 [Former
: [6]842/2542]
TAX
ID NO. : 3030019011
CAPITAL REGISTERED : BHT. 10,000,000
CAPITAL PAID-UP : BHT.
10,000,000
SHAREHOLDER’S PROPORTION : THAI : 93.50%
NEW ZEALANDER
: 6.50%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
JOHN ROBERT BARTON,
NEW ZEALANDER
MANAGING DIRECTOR
NO.
OF STAFF : 46
LINES
OF BUSINESS : ENGINEERING AND
CONSTRUCTION WORKS
CONTRACTOR
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 November 23,
1999 as a
private limited company under
the name style
STREGA CO., LTD. by Thai and
New Zealander groups, with the
business objective to provide
engineering and construction
services. It currently employs
46 staff.
The
subject’s registered address
is 8/58 Moo
8, T. Buengkamproi, A. Lamlukka,
Pathumthani 12150, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. John Robert Barton |
|
New
Zealander |
50 |
|
Ms. Kanittha Brahmasakha Na
Sakonnakhon |
|
Thai |
50 |
AUTHORIZED PERSON
Both of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. John Robert Barton
is the Managing
Director.
He is New Zealander
nationality with the
age of 50
years old.
Ms. Kanittha Brahmasakha Na
Sakonnakhon is the
Deputy Managing Director.
She is Thai
nationality with the
age of 50
years old.
BUSINESS OPERATIONS
The subject’s activities
are contractor and
sub-contractor wide range
of services for
engineering construction, installation
and replacements, specialized
in underground utility
installations and replacements
using horizontal directional
drilling [HDD] methods, as
well as installation
of underground cables,
conduits and pipelines
throughout Thailand.
PURCHASE
Most of engineering
equipment’s and supplies
are purchased from
local suppliers.
IMPORT
Drilling machinery and equipment
are imported from United States of America,
Germany, Japan, Taiwan
and Singapore.
MAJOR SUPPLIERS
Vemeer
Corporation : United
States of America
Tracto
Technik GmbH. :
Germany
Digital
Control Incorporated :
U.S.A.
SERVICES
100% of its projects
are serviced to
public company, states
enterprise and government sector.
MAJOR CUSTOMERS
PTT Public Company Limited
Metropolitan Electricity
Authority
Provincial Electricity Authority
TOT Public Company
Limited
Etc.
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/services are by
cash or on
the credits term
of 30-60-90 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs 46
staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in provincial.
COMMENT
The
subject was formed
in 1999 as
an engineering and
construction services. The
subject had significantly
grown in line
with growth of
country’s infrastructure improvement
in the past
years. However, current
country’s economy shrink has
resulted to slow
consumption of engineering
works and would affect on subject’s growth
in short to
medium-term prospect.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht.
100 each.
The
capital was increased
later as follows:
Bht. 7,000,000
on November 17,
2000
Bht. 10,000,000
on September 23,
2010
The
lastest registered capital
was increased to
Bht. 10,000,000 divided
into 100,000 shares
of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Kanittha Brahmasakha Na
Sakonnakhon Nationality:
Thai Address : 5/190
Moo 2, T. Ladsawai, A. Lamlukka, Pathumthani |
53,500 |
53.50 |
|
Mr. Kornchai Chuleepongchet Nationality: Thai Address : 314
Soi Yoocharoen 29,
Samsennok, Huaykwang, Bangkok |
15,500 |
15.50 |
|
Mrs. Monsinee Visartsakul Nationality: Thai Address : 623
Soi Pattanakarn 39,
Suanluang, Bangkok |
10,500 |
10.50 |
|
Mr. Supachai Traikomut Nationality: Thai Address : 10/4
Soi Pasana 1,
Prakanongnua,
Wattana, Bangkok |
9,500 |
9.50 |
|
Mr. John Robert Barton Nationality: New Zealander Address : 8/58
Moo 8, T. Buengkamproi, A.
Lamlukka, Pathumthani |
6,500 |
6.50 |
|
Mr. Tawatchai Chuleepongchet Nationality: Thai Address : 312
Soi Yoocharoen 29,
Samsennok, Huaykwang, Bangkok |
4,500 |
4.50 |
Total Shareholders : 6
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
93,500 |
93.50 |
|
Foreign - New Zealander |
1 |
6,500 |
6.50 |
|
Total |
6 |
100,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.:
Ms. Varaporn Intaraprasit No. 7881
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 |
208,647.18 |
651,817.10 |
4,465,655.19 |
|
Trade Accounts & Other
Receivable |
49,310,778.19 |
18,489,732.36 |
27,809,468.53 |
|
Other Current Assets
Deposit &
Guarantee |
- |
- |
3,799,676.63 |
|
Others |
732,000.00 |
876,500.00 |
2,336,495.92 |
|
|
|
|
|
|
Total Current Assets
|
50,251,425.37 |
20,018,049.46 |
38,411,296.27 |
|
Cash at Bank pledged as a Collateral |
3,343,278.32 |
- |
- |
|
Fixed Assets |
107,852,149.95 |
116,006,334.99 |
60,038,029.85 |
|
Other Non-current Assets |
61,308.19 |
2.00 |
676,500.00 |
|
Total Assets |
161,508,161.83 |
136,024,386.45 |
99,125,826.12 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft |
7,178,550.39 |
24,800,741.19 |
- |
|
Trade Accounts & Other Payable |
31,771,495.81 |
17,267,272.82 |
670,174.17 |
|
Trade Accounts Payable
- Related Company |
- |
- |
428,000.00 |
|
Current Portion of
Long-term Loans |
12,823,163.42 |
12,991,458.20 |
4,875,283.06 |
|
Current Portion of
Finance Lease Contract Liabilities |
1,177,298.76 |
3,897,247.46 |
7,069,420.08 |
|
Other Current Liabilities Accrued Expenses
|
- |
- |
4,139,951.87 |
|
Accrued Income
Tax |
- |
- |
3,174,132.88 |
|
Other |
- |
- |
483,630.19 |
|
|
|
|
|
|
Total Current Liabilities |
52,950,508.38 |
58,956,719.67 |
20,840,592.25 |
|
Long-term Loan |
31,700,947.69 |
41,034,413.67 |
8,172,982.75 |
|
Finance Lease Contract
Liabilities |
486,543.25 |
1,275,558.81 |
5,393,731.70 |
|
Estimated Liabilities from Employee
Benefits |
6,338,739.92 |
5,513,035.17 |
- |
|
Total Liabilities |
91,476,739.24 |
106,779,727.32 |
34,407,306.70 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 100,000 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 |
60,103,422.59 |
19,244,659.13 |
54,718,519.42 |
|
Total Shareholders' Equity |
70,103,422.59 |
29,244,659.13 |
64,718,519.42 |
|
Total Liabilities & Shareholders' Equity |
161,580,161.83 |
136,024,386.45 |
99,125,826.12 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Construction Income |
224,966,323.40 |
52,169,258.82 |
155,579,372.95 |
|
Sales Income |
4,145,436.30 |
- |
- |
|
Other Income |
146,937.10 |
7,553,105.80 |
102,281.24 |
|
Total Revenues |
229,258,696.80 |
59,722,364.62 |
155,681,654.19 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Construction Service |
144,677,725.55 |
70,872,645.19 |
101,922,860.22 |
|
Cost of Goods
Sold |
2,846,143.08 |
588,000.00 |
- |
|
Selling Expenses |
4,161,402.09 |
97,463.68 |
3,329,868.89 |
|
Administrative Expenses |
18,947,375.53 |
16,221,400.43 |
29,727,215.45 |
|
Total Expenses |
170,632,646.25 |
87,779,509.30 |
134,979,944.56 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
58,626,050.55 |
[28,057,144.68] |
20,701,709.63 |
|
Financial Costs |
[5,181,638.88] |
[2,957,288.29] |
[2,358,671.98] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
53,444,411.67 |
[31,014,432.97] |
18,343,037.65 |
|
Income Tax |
[12,585,648.21] |
- |
[8,780,765.37] |
|
|
|
|
|
|
Net Profit / [Loss] |
40,858,763.46 |
[31,014,432.97] |
9,562,272.28 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.95 |
0.34 |
1.84 |
|
QUICK RATIO |
TIMES |
0.94 |
0.32 |
1.55 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.12 |
0.45 |
2.59 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.42 |
0.38 |
1.57 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
78.56 |
129.36 |
65.24 |
|
RECEIVABLES TURNOVER |
TIMES |
4.65 |
2.82 |
5.59 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
78.61 |
88.20 |
2.40 |
|
CASH CONVERSION CYCLE |
DAYS |
(0.05) |
41.17 |
62.84 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
64.39 |
136.98 |
65.51 |
|
SELLING & ADMINISTRATION |
% |
10.09 |
31.28 |
21.25 |
|
INTEREST |
% |
2.26 |
5.67 |
1.52 |
|
GROSS PROFIT MARGIN |
% |
35.67 |
(22.50) |
34.55 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
25.59 |
(53.78) |
13.31 |
|
NET PROFIT MARGIN |
% |
17.83 |
(59.45) |
6.15 |
|
RETURN ON EQUITY |
% |
58.28 |
(106.05) |
14.78 |
|
RETURN ON ASSET |
% |
25.30 |
(22.80) |
9.65 |
|
EARNING PER SHARE |
BAHT |
408.59 |
(310.14) |
95.62 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.57 |
0.79 |
0.35 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.30 |
3.65 |
0.53 |
|
TIME INTEREST EARNED |
TIMES |
11.31 |
(9.49) |
8.78 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
339.17 |
(66.47) |
|
|
OPERATING PROFIT |
% |
(308.95) |
(235.53) |
|
|
NET PROFIT |
% |
231.74 |
(424.34) |
|
|
FIXED ASSETS |
% |
(7.03) |
93.22 |
|
|
TOTAL ASSETS |
% |
18.73 |
37.22 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 339.17%. Turnover has increased from THB 52,169,258.82
in 2011 to THB 229,111,759.70 in 2012. While net profit has increased from THB
-31,014,432.97 in 2011 to THB 40,858,763.46 in 2012. And total assets has
increased from THB 136,024,386.45 in 2011 to THB 161,508,161.83 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
35.67 |
Impressive |
Industrial Average |
19.41 |
|
Net Profit Margin |
17.83 |
Impressive |
Industrial Average |
1.32 |
|
Return on Assets |
25.30 |
Impressive |
Industrial Average |
1.51 |
|
Return on Equity |
58.28 |
Impressive |
Industrial Average |
2.49 |
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 35.67%. 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 17.83%,
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 25.3%, 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 58.28%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.95 |
Risky |
Industrial Average |
2.33 |
|
Quick Ratio |
0.94 |
|
|
|
|
Cash Conversion Cycle |
(0.05) |
|
|
|
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 0.95 times in 2012, increased from 0.34 times, then the company may
have problems meeting its short-term obligations. 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 0.94 times in 2012,
increased from 0.32 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 -1 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.57 |
Acceptable |
Industrial Average |
0.39 |
|
Debt to Equity Ratio |
1.30 |
Risky |
Industrial Average |
0.62 |
|
Times Interest Earned |
11.31 |
Impressive |
Industrial Average |
0.64 |
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 11.32 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 0.57 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 |
2.12 |
Impressive |
Industrial Average |
0.59 |
|
Total Assets Turnover |
1.42 |
Impressive |
Industrial Average |
1.04 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
2.70 |
|
Receivables Conversion Period |
78.56 |
|
|
|
|
Receivables Turnover |
4.65 |
Impressive |
Industrial Average |
2.35 |
|
Payables Conversion Period |
78.61 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.65 and 2.82 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.
The company's Total Asset Turnover is calculated as 1.42 times and 0.38
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.59.39 |
|
UK Pound |
1 |
Rs.89.90 |
|
Euro |
1 |
Rs.77.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.