MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
METRODE [THAILAND] 1995 CO., LTD. |
|
|
|
|
Registered Office : |
12/22 Soi 174 Ramkhamhaeng Road, Minburi, Bangkok
10510 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.02.1995 |
|
|
|
|
Com. Reg. No.: |
0105538016217 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer and Distributor of Welding Products
|
|
|
|
|
No. of Employees : |
10 |
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
METRODE [THAILAND] 1995 CO., LTD.
SUMMARY
BUSINESS ADDRESS : 12/22 SOI 174
RAMKHAMHAENG ROAD,
MINBURI, BANGKOK
10510, THAILAND
TELEPHONE : [66] 2917-4231,
2917-5008
FAX : [66] 2917-5009,
2917-4229
E-MAIL ADDRESS : metrode_th1995@yahoo.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1995
REGISTRATION NO. : 0105538016217
TAX ID NO. : 3011559390
CAPITAL REGISTERED : BHT. 3,000,000
CAPITAL PAID-UP : BHT.
3,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS.
LAKSANA LUEHATHAIOPAS, THAI
MANAGING DIRECTOR
NO. OF STAFF : 10
LINES OF BUSINESS : WELDING PRODUCTS
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH FAIR
PERFORMANCE
HISTORY
The subject was
established on February
6, 1995 as
a private limited
company under the
name style METRODE
[THAILAND] 1995 CO., LTD., by
Luehathaiopas family, with
the business objective
to import and
distribute various kinds
of welding products
to domestic market.
It currently employs
10 staff.
The subject’s registered
address is 12/22
Soi 174 Ramkhamhaeng
Rd., Minburi, Bangkok
10510, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Laksana Luehathaiopas |
|
Thai |
59 |
|
Mr. Annop Luehathaiopas |
|
Thai |
62 |
|
Mr. Thewan Luehathaiopas |
|
Thai |
65 |
|
Mr. Nanthapol Luehathaiopas |
|
Thai |
63 |
|
Ms. Suthana Luehathaiopas |
|
Thai |
40 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mrs. Laksana Luehathaiopas is
the Managing Director.
She is Thai nationality
with the age
of 59 years
old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing various kinds
of special welding
products, including welding
filler metals, TIG & WIG
welding wires, welding
machine and parts,
welding electrodes, gas
welding products and
etc.
BRAND NAMES
“AAA”, “WTI”, “SAF”,
“YAWATA”, “HILCO”, “PLANG”,
“KOBE”, “GEMINI”, “ESAB”,
“LINCOLN” and etc.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, which 60%
is imported from United States of America,
Sweden, Japan, Taiwan,
Republic of China,
India and Germany,
the remaining 40%
is purchased from
local suppliers.
SALES
100% of the
products is sold
locally by wholesale
to dealers, manufacturers
and
end-users.
RELATED AND AFFILIATED COMPANY
Siam Weld Trading
Co., Ltd.
Business Type :
Importer and distributor
of cutting machines
and welding products
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 sight
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 10 staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in residential
area.
COMMENT
The subject has
moderate business. Its
products have been
marketed for over
ten years.
Increased consumption by
industrial sector has
contributed to improve
the subject’s sales in the
past year.
The subject has
stable business and
steady growth.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of Bht. 100
each with fully
paid.
November 20, 2001,
the capital was
increased to Bht. 3,000,000 divided
into 30,000 shares
of Bht. 100
each with fully
paid.
MAIN SHAREHOLDERS
[as at April
30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Nanthapol Luehathaiopas Nationality: Thai Address : 282/9
Sukhumvit 71 Rd.,
Prakanong,
Wattana, Bangkok |
5,775 |
19.25 |
|
Mrs. Laksana Luehathaiopas Nationality: Thai Address : 21/739
Moo 5, Sukhapibal
31 Rd., Klongkum, Buengkum,
Bangkok |
5,275 |
17.58 |
|
Mr. Annop Luehathaiopas Nationality: Thai Address : 12/22
Ramkhamaheng 174 Rd.,
Minburi, Bangkok |
5,275 |
17.58 |
|
Mr. Thewan Luehathaiopas Nationality: Thai Address : 25/6 Sukhapibal 3 Rd.,
Sapansung, Bangkok |
3,275 |
10.92 |
|
Ms. Suthana Luehathaiopas Nationality: Thai Address : 25/6
Sukhapibal 3 Rd.,
Sapansung, Bangkok |
3,000 |
10.00 |
|
Ms. Puangkaew Luehathaiopas Nationality: Thai Address : 12/22
Ramkhamaheng 174 Rd.,
Minburi, Bangkok |
1,000 |
3.33 |
|
Mr. Pawarit Songvirat Nationality: Thai Address : 69/347
Ramkhamahaeng 164 Rd.,
Minburi, Bangkok |
1,000 |
3.33 |
|
Ms. Thitirat Songvirat Nationality: Thai Address : 69/347
Ramkhamahaeng 164 Rd.,
Minburi, Bangkok |
1,000 |
3.33 |
|
Others |
4,400 |
14.68 |
Total Shareholders : 16
Share Structure
[as at April
30, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
16 |
30,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
16 |
30,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Sakchai
Prachakboonjesada No. 5927
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 |
305,251.09 |
21,494.52 |
54,422.10 |
|
Trade Accounts and
Other Receivable |
12,334,712.50 |
9,337,907.47 |
3,214,709.83 |
|
Lending to Related Company |
589,499.14 |
- |
890,518.39 |
|
Inventories |
7,416,745.49 |
6,522,523.85 |
4,627,183.34 |
|
Prepaid Goods |
9,619,005.17 |
6,379,224.88 |
3,062,098.61 |
|
Prepaid Expenses |
144,400.36 |
267,884.91 |
538,483.43 |
|
Other Current Assets
|
134,026.80 |
133,421.61 |
599,485.09 |
|
|
|
|
|
|
Total Current Assets
|
30,543,640.55 |
22,662,457.24 |
12,986,900.79 |
|
|
|
|
|
|
Fixed Assets |
9,405,956.46 |
11,501,678.86 |
12,767,838.01 |
|
Other Non - current Assets |
40,325.96 |
89,764.75 |
29,929.59 |
|
Total Assets |
39,989,922.97 |
34,253,900.85 |
25,784,668.39 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Shot-term Loan from Financial Institutions |
8,614,606.30 |
6,998,766.67 |
3,625,450.11 |
|
Trade Accounts and
Other Payable |
2,413,962.01 |
2,442,254.64 |
785,317.20 |
|
Accrued Expenses |
4,345,600.00 |
4,348,500.00 |
3,841,600.00 |
|
Other Current Liabilities |
1,184,595.00 |
538,560.98 |
218,789.09 |
|
|
|
|
|
|
Total Current Liabilities |
16,558,763.31 |
14,328,082.29 |
8,471,156.40 |
|
Hire-purchase Payable |
289,614.00 |
501,782.95 |
164,138.35 |
|
Long-term Loan from Financial Institutions |
2,721,828.41 |
3,436,431.90 |
4,717,785.68 |
|
Long-term Loan from Person
and Related Company |
11,347,171.76 |
9,443,672.62 |
8,295,171.76 |
|
Total Liabilities |
30,917,377.48 |
27,709,969.76 |
21,648,252.19 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 30,000 shares |
3,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
|
|
|
|
|
Capital Paid |
3,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
Retained Earning Unappropriated |
6,072,545.49 |
3,543,931.09 |
1,136,416.20 |
|
Total Shareholders' Equity |
9,072,545.49 |
6,543,931.09 |
4,136,416.20 |
|
Total Liabilities &
Shareholders' Equity |
39,989,922.97 |
34,253,900.85 |
25,784,668.39 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Services Income |
34,803,959.20 |
32,910,938.16 |
20,510,571.00 |
|
Other Income |
104,998.93 |
341,690.90 |
168,236.67 |
|
Total Revenues |
34,908,958.13 |
33,252,629.06 |
20,678,807.67 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
22,778,064.31 |
21,661,134.13 |
11,851,340.58 |
|
Selling Expenses |
3,506,271.95 |
3,967,704.67 |
2,861,495.96 |
|
Administrative Expenses |
4,242,050.01 |
3,685,248.32 |
3,575,379.92 |
|
Total Expenses |
30,526,386.27 |
29,314,087.12 |
18,288,216.46 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
4,382,571.86 |
3,938,541.94 |
2,390,591.21 |
|
Financial Costs |
[1,067,236.28] |
[84,786.79] |
[619,867.48] |
|
Profit / [Loss] before Income
Tax |
3,315,335.58 |
3,096,755.15 |
1,770,723.73 |
|
Income Tax |
[786,721.18] |
[689,240.26] |
[350,013.55] |
|
|
|
|
|
|
Net Profit / [Loss] |
2,528,614.40 |
2,407,514.89 |
1,420,710.18 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.84 |
1.58 |
1.53 |
|
QUICK RATIO |
TIMES |
0.80 |
0.65 |
0.49 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.70 |
2.86 |
1.61 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.87 |
0.96 |
0.80 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
118.85 |
109.91 |
142.51 |
|
INVENTORY TURNOVER |
TIMES |
3.07 |
3.32 |
2.56 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
129.36 |
103.56 |
57.21 |
|
RECEIVABLES TURNOVER |
TIMES |
2.82 |
3.52 |
6.38 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
38.68 |
41.15 |
24.19 |
|
CASH CONVERSION CYCLE |
DAYS |
209.52 |
172.32 |
175.53 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
65.45 |
65.82 |
57.78 |
|
SELLING & ADMINISTRATION |
% |
22.26 |
23.25 |
31.38 |
|
INTEREST |
% |
3.07 |
0.26 |
3.02 |
|
GROSS PROFIT MARGIN |
% |
34.85 |
35.22 |
43.04 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.59 |
11.97 |
11.66 |
|
NET PROFIT MARGIN |
% |
7.27 |
7.32 |
6.93 |
|
RETURN ON EQUITY |
% |
27.87 |
36.79 |
34.35 |
|
RETURN ON ASSET |
% |
6.32 |
7.03 |
5.51 |
|
EARNING PER SHARE |
BAHT |
84.29 |
80.25 |
47.36 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.77 |
0.81 |
0.84 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.41 |
4.23 |
5.23 |
|
TIME INTEREST EARNED |
TIMES |
4.11 |
46.45 |
3.86 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
5.75 |
60.46 |
|
|
OPERATING PROFIT |
% |
11.27 |
64.75 |
|
|
NET PROFIT |
% |
5.03 |
69.46 |
|
|
FIXED ASSETS |
% |
(18.22) |
(9.92) |
|
|
TOTAL ASSETS |
% |
16.75 |
32.85 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 5.75%. Turnover has increased from THB
32,910,938.16 in 2011 to THB 34,803,959.20 in 2012. While net profit has
increased from THB 2,407,514.89 in 2011 to THB 2,528,614.40 in 2012. And total
assets has increased from THB 34,253,900.85 in 2011 to THB 39,989,922.97 in
2012.
PROFITABILITY : SATISFACTORY
PROFITABILITY RATIO
|
Gross Profit Margin |
34.85 |
Acceptable |
Industrial Average |
60.25 |
|
Net Profit Margin |
7.27 |
Impressive |
Industrial Average |
5.91 |
|
Return on Assets |
6.32 |
Deteriorated |
Industrial Average |
12.90 |
|
Return on Equity |
27.87 |
Impressive |
Industrial Average |
27.76 |
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 34.85%. 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 7.27%, 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. When compared with the
industry average, it was lower, the company's figure is 6.32%.
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 27.87%, 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 : ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.84 |
Impressive |
Industrial Average |
1.76 |
|
Quick Ratio |
0.80 |
|
|
|
|
Cash Conversion Cycle |
209.52 |
|
|
|
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 1.84 times in 2012, increased from 1.58 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 0.8 times in 2012,
increased from 0.65 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 210 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.77 |
Acceptable |
Industrial Average |
0.53 |
|
Debt to Equity Ratio |
3.41 |
Risky |
Industrial Average |
1.11 |
|
Times Interest Earned |
4.11 |
Impressive |
Industrial Average |
- |
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 4.11 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 0.77 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 : ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.70 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.87 |
Deteriorated |
Industrial Average |
2.18 |
|
Inventory Conversion Period |
118.85 |
|
|
|
|
Inventory Turnover |
3.07 |
Acceptable |
Industrial Average |
4.88 |
|
Receivables Conversion Period |
129.36 |
|
|
|
|
Receivables Turnover |
2.82 |
Acceptable |
Industrial Average |
4.08 |
|
Payables Conversion Period |
38.68 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.82 and 3.52 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
decreased from 2011. 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 increased from 110 days at the
end of 2011 to 119 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 3.32 times in year 2011 to 3.07 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.87 times and 0.96 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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
|
1 |
Rs.91.15 |
|
Euro |
1 |
Rs.77.50 |
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.