MIRA INFORM REPORT

 

 

Report Date :

13.06.2013

 

IDENTIFICATION DETAILS

 

Name :

PTT  POLYMER MARKETING COMPANY LIMITED

 

 

Registered Office :

9th  Floor,  Energy  Complex  Tower  A,    555/1  Vibhavadee  Rangsit  Road,

Chatuchak,  Bangkok  10900

 

 

Country :

Thailand

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

24.06.2005

 

 

Com. Reg. No.:

0105548082506

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Distributor  and  Exporter of Polymer  Products

 

 

No. of Employees :

120

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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

(31.03.2012)

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

 

PTT  POLYMER MARKETING COMPANY LIMITED

 

 

SUMMARY

 

BUSINESS  ADDRESS                          :           9th  FLOOR,  ENERGY  COMPLEX  TOWER  A,

                                                                        555/1  VIBHAVADEE  RANGSIT  ROAD,

CHATUCHAK,  BANGKOK  10900,  THAILAND

TELEPHONE                                         :           [66]   2140-4488

FAX                                                      :           [66]   2140-4333

E-MAIL  ADDRESS                                :           export@pttpm.com

REGISTRATION  ADDRESS                   :           SAME  AS  BUSINESS  ADDRESS

 

ESTABLISHED                                     :           2005

REGISTRATION  NO.                            :           0105548082506

TAX  ID  NO.                                          :           3380090777

CAPITAL REGISTERED                        :           BHT.   40,000,000

CAPITAL PAID-UP                                 :           BHT.   40,000,000

SHAREHOLDER’S  PROPORTION         :           THAI     :   100%

FISCAL YEAR CLOSING DATE              :           DECEMBER   31            

LEGAL  STATUS                                               :           PRIVATE  LIMITED  COMPANY

EXECUTIVE                                          :           MR.  SUPACHOKE  LIAMKAEO,   THAI

                                                                        PRESIDENT     

 

NO.  OF  STAFF                                    :           120

LINES  OF  BUSINESS                          :           POLYMER  PRODUCTS

                                                                        DISTRIBUTOR  AND  EXPORTER

                                                                         

                                                                         

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  June  24,  2005  as  a  private  limited  company  under  the  name  style  PTT  POLYMER  MARKETING  COMPANY  LIMITED,  by  Thai  groups, to  distribute  wide  range  of  polymer  products  to  both  domestic  and  international  markets.  It  currently  employs  approximate  120  staff. 

 

Presently,  the  subject  is  a  joint  venture  among  PTT  Public  Company  Limited,  IRPC  Public  Company  Limited and  PTT Global  Chemical  Public  Company Limited,  which  are  members of  PTT  group  of  companies, the  Thailand’s largest  petroleum and petrochemical  company  and  the  leading  petrochemical  producer  in  Asia.

 

The  subject’s  registered  address  was  initially  located  at  555  Ardnarong  Rd.,  Klongtoey,  Bangkok  10110.

 

On  March  2,  2010  the  subject’s  registered  address  was  relocated  to  9th  Floor,  Energy  Complex  Tower A,  555/1  Vibhavadee  Rangsit  Rd.,  Chatuchak,  Bangkok  10900,  and  this  is  the  subject’s  current  operation  address.  

 

 

THE BOARD OF DIRECTORS

 

     Name

 

Nationality

Age

 

 

 

 

Mr. Atthawuth  Hiranburana

[+]

Thai

57

Mr. Athikom  Terbsiri

[+]

Thai

51

Mr. Pitiphan  Theppatimakorn

[-]

Thai

57

Mr. Supachoke  Liamkaeo

[x]

Thai

58

Mrs. Sriwan  Eiamrungroj

[+]

Thai

55

Mrs. Buppha  Amornkiatkajorn

[-]

Thai

55

Mr. Pramin  Phantawesak

[-]

Thai

59

Mr. Charnsilp  Trinuchakorn

[+]

Thai

-

 

 

AUTHORIZED PERSON

 

Only  the  mentioned  director  [x]  signs  or  one  of  the  mentioned  directors  [-]  can  jointly  sign  with  anyone  of  the  directors [+]   on  behalf  of  the  subject  with  company’s  affixed.

 

 

MANAGEMENT

 

Mr.  Supachoke  Liamkaeo  is  the  President.

He  is  Thai  nationality  with  the  age  of  58  years  old.

 

Mr. Saravut  Damrichob  is  the  Vice  President,  Finance &  Accounting  Dept.

He  is  Thai  nationality.

 

 

Mr.  Amnuai  Phrom-Anant  is  the  Vice  President,  Planning  & Business  Intelligence  Dept.  &  Corporate  Support  Dept.

He  is  Thai  nationality.

 

Ms. Somsri  Phanichrungruang  is  the  Vice  President,  Export  Sales  Dept.

She  is  Thai  nationality.

 

Mr. Paiboon  Prapussornchaikul  is  the  Vice  President,  Specialty  Products  Dept.

He  is  Thai  nationality.

 

Ms. Ratchaneekorn  Aksaranuwong  is  the  Vice  President,  Customer  Service  Dept.

She  is  Thai  nationality.

 

Mr. Narongchai  Pisutpunya  is  the  Executive  Vice  President,  Commercial & Marketing  and  Acting  Vice  President,  Domestic  Sales  Dept.

He  is  Thai  nationality.

 

Mr. Watcharasit  Reinsriwong  is  the  Acting  Vice  President,  Technical  Support  Dept.

He  is  Thai  nationality.

 

 

BUSINESS OPERATIONS

 

The subject  is  engaged  in  distributing  and  exporting  wide  range  of  polymers,  specialized  in  Polyethylene  products,  including  High  Density  Polyethylene  [HDPE],  Low  Density  Polyethylene [LDPE],  Linear  Low  Density  Polyethylene  [LLDPE],  under  the brand  “INNOPLUS”,  as  well  as  Biopolymer [PLA/ PBS]   and  Polystyrene  [PS]   consist   of  GPPS  resin [General Purpose  Polystyrene]  and  HIPS  resin [High  Impact  Polystyrene],  under  the  brand  “DIAREX”.

 

 

PURCHASE

 

100%  of  the  products  is  purchased  from  local  suppliers.

 

 

MAJOR SUPPLIERS

 

Bangkok  Polyethylene  Public  Company  Limited

HMC  Polymer  Company  Limited

IRPC  Public  Company  Limited

PTT  Global  Chemical  Public  Company  Limited

 

 

SALES 

 

The  products  are  sold  to  customers  both  local  and  overseas,  60%  of  the  products  is  exported to  U.S.A.,  UAE,  Republic of China, Korea, Singapore,  Taiwan,  Japan,  India,  Pakistan, Indonesia, Vietnam, Malaysia,  Laos,  Australia,  Africa,  Middle East  and European  countries,  the  remaining  40%  is  sold  locally.

 

 

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  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.

Exports  are  against  L/C  at  sight  or  T/T.

 

 

BANKING

 

Standard  Chartered  Bank  [Thai]  Public  Co.,  Ltd.

Bangkok  Bank  Public  Co.,  Ltd.

Siam  Commercial  Bank  Public  Co.,  Ltd.

Kasikornbank  Public  Co.,  Ltd.

 

 

EMPLOYMENT

 

The  subject  employs  approximately  120  staff.  

 

 

LOCATION DETAILS

 

The  premise  is  rented  for  administrative  office  at  the  heading  address.  Premise  is  located  in  commercial/residential   area.

 

Overseas office:

 

Polymer  Marketing DMCC  [PM DMCC]

Unit  406,  Indigo  Tower,  Plot  No. D1,  Jumeirah  Lake  Towers,  P.O. Box 71645,  Dubai, U.A.E.

 

Guangzhou  Representative  Office

China Shin Office  Building,  Unit 3803,  Building A,  No. 9  Linhexi  Road,  Tianhe    District,  Guangzhou,  510620,  Republic  of  China.

 

Ho  Chi  Minh  City  Representative  Office

Unit  900,  9th/F.,  2A-4A  Ton  Duc  Thang  Street,  Ben Nghe  Ward  District  1,  Ho  Chi  Minh  City,  Vietnam.

 

Shanghai  Representative  Office

Room  No.  13-012,  13th/F.,  Hang  Seng  Bank  Tower,  1000  Lujiazui  Ring  Road, 

 Pudong  New  Area,  Shanghai  200120,  Republic  of  China.

 

Jakarta  Representative  Office

Sentral  Senayan  III,  15th  Floor,  Jalan  Asia  Afrika  No. 8,  Gelora  Bung  Karno, 

 Tanah  Abang,  Jakarta  Pusat  10270,  Indonesia.

 

 

COMMENT

 

The  industry  which produces  chemicals  using  oil and natural gas  as  principal  raw  materials,  plays a  prominent  role  in  the  manufacturing  sector  and  the  production  of  consumer goods in  particular. Petrochemicals can be  transformed into  thousands of  industrial  and  consumer  products,  from  plastic  to  paints  and  rubber  to  textiles.

 

The  subject  has  been  established as an  arm  of PTT group  to  bring  with  many  advantages for PTT’s wide  portfolio of  petrochemical  subsidiaries.  It  will  not  only  optimise  marketing  management efficiency,  but  also  reinforce  the  group’s  competitive  edge over  its  rivals.

 

The  subject provides the most professional sales and marketing services to PTT Group’s polymer  manufacturing  units,  which  contributes to  the company’s growth and  solid  business.

 

 

FINANCIAL INFORMATION

 

The  capital  was  registered  at  Bht.  40,000,000  divided  into 400,000  shares  of  Bht. 100     each  with  fully  paid.

 

 

THE SHAREHOLDERS LISTED WERE

 

 [as  at  April  26,  2012]

 

       NAME

HOLDING

%

 

 

 

PTT  Public  Company  Limited

Nationality:  Thai

Address     :  555  Vibhavadee  Rangsit  Rd.,  Chatuchak, 

                     Bangkok

199,997

50.00

IRPC  Public  Company  Limited

Nationality:  Thai

Address     :  299 Moo 5,  Sukhumvit  Rd.,  Cherngnoen, 

                     Muang,  Rayong

100,000

25.00

PTT  Global  Chemical  Public  Company  Limited

Nationality:  Thai

Address     :  Energy  Complex  Tower A,

                     555/1 Vibhavadee  Rangsit  Rd.,  Chatuchak, 

                     Bangkok

  99,998

25.00

Mr. Kritaya  Watanakoon

Nationality:  Thai

Address     :  29/1  Soi  Ladprao  80  Yaek 2, 

                     Wangthonglang,  Bangkok

          1

-

Mrs. Ratchadaporn  Rajthewin

Nationality:  Thai

Address     :  42  Sutthisarn  Rd.,  Samsennai,  Phyathai, 

                     Bangkok

          1

-

Mr. Supoj  Laosu-arpa

Nationality:  Thai

Address     :  48  Trok  Songphra,  Mahaprutharam, 

                     Bangrak,  Bangkok

          1

-

Mrs. Vilawan  Songcharoen

Nationality:  Thai

Address     :  34/42 Moo 3,  Salathamsop,  Taweewatana,

                     Bangkok

          1

-

Mrs. Pilasphan  Udomjarumanee

Nationality:  Thai

Address     :  35  Srinakarin  Rd.,  Nongbon,  Prawes, 

                     Bangkok

          1

-

 

Total  Shareholders  :   8

 

 

Share Structure

 

 [as  at  April  26,  2012]

 

Nationality

Shareholders

No. of  Share

% Shares

 

 

 

 

Thai

8

400,000

100.00

Foreign

-

-

-

 

Total

 

8

 

400,000

 

100.00

 

 

NAME  OF  AUDITOR  &  CERTIFIED  PUBLIC  ACCOUNTANT  NO.

 

Ms. Sukhumaporn  Wongariyaporn  No.  4843

 

 

BALANCE SHEET [BAHT]

 

The  latest  financial  figures  published  for  December  31,  2011  &  2010  were:

          

ASSETS

                                                                                                 

Current Assets

2011

2010

 

 

 

Cash  and Cash Equivalents             

2,042,313,394

1,619,712,768

Trade Accounts Receivable

  -  Other Company 

 

3,296,591,733

 

2,320,043,249

  -  Related Company

123,902,439

41,810,715

Account Receivable - Related Company

4,712,947

2,861,744

Inventories

471,961,024

392,362,091

Refundable Value Added Tax

470,127,945

308,421,502

Prepayment

3,903,385

3,362,431

Other  Current  Assets                  

17,371,143

14,972,282

 

 

 

Total  Current  Assets                 

6,430,884,010

4,703,546,782

 

Investment  in Subsidiaries

 

1,959,695

 

1,959,695

Fixed Assets                  

39,325,675

51,959,933

Intangible Assets

50,117,140

62,880,871

Other Assets                  

11,701,627

11,123,837

Deferred  Income Tax

5,754,803

7,448,038

 

Total  Assets                  

 

6,539,742,950

 

4,838,919,156

 

LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]

 

Current Liabilities

2011

2010

 

 

 

Trade Accounts Payable

  -  Other Company

 

35,252,395

 

21,906,157

  -  Related Company

5,819,960,736

4,383,414,119

Account  Payable - Related  Company

46,637,004

43,049,059

Current  Portion of  Financial Lease 

  Contract Liabilities

 

3,100,506

 

3,272,519

Pre-receipt  from  Customer

46,113,112

25,418,621

Accrued  Expenses

40,381,926

22,695,608

Accrued  Income  Tax

47,588,435

38,430,483

Other  Current  Liabilities             

29,947,459

12,796,827

 

 

 

Total Current Liabilities

6,068,981,573

4,550,983,393

 

Reserve for Employee’s Benefit

 

28,774,015

 

24,826,794

Financial Lease Contract Liabilities, Net of

  Current  Portion

 

1,333,310

 

2,842,940

 

Total  Liabilities               

 

6,099,088,898

 

4,578,653,127

 

 

 

Shareholders' Equity

 

 

 

 

 

 Share  capital : Baht  100  par  value 

  authorized,  issued  and  fully 

  paid  share  capital 400,000  shares

 

 

40,000,000

 

 

40,000,000

 

 

 

Capital  Paid                      

40,000,000

40,000,000

Retained  Earning - Unappropriated                

400,654,052

220,266,029

 

Total Shareholders' Equity

 

440,654,052

 

260,266,029

 

Total Liabilities & Shareholders'  Equity

 

6,539,742,950

 

4,838,919,156

 

                                                  

PROFIT & LOSS ACCOUNT

 

 Revenue

2011

2010

 

 

 

Sales                                         

62,704,682,520

38,845,637,570

Other  Income                 

267,009,487

152,697,018

 

Total  Revenues              

 

62,971,692,007

 

38,998,334,588

 

Expenses

 

 

 

 

 

Cost  of  Goods  Sold                  

61,185,819,617

37,834,558,754

Selling Expenses

1,151,258,205

722,438,012

Administrative Expenses

376,862,910

310,012,589

 

Total Expenses               

 

62,713,940,732

 

38,867,009,355

 

 

 

Profit  before  Financial Cost & Income  Tax

257,751,275

131,325,233

Financial Cost

[258,725]

[2,088,536]

 

 

 

Profit  before Income Tax

257,492,550

129,236,697

Income  Tax

[77,104,527]

[38,530,103]

 

Net  Profit / [Loss]

 

180,388,023

 

90,706,594

 

 

FINANCIAL ANALYSIS

 

ITEM

UNIT

2011

2010

 

 

 

 

LIQUIDITY RATIO

 

 

 

CURRENT RATIO

TIMES

1.06

1.03

QUICK RATIO

TIMES

0.90

0.88

 

 

 

 

ACTIVITY RATIO

 

 

 

FIXED ASSETS TURNOVER

TIMES

1,594.50

747.61

TOTAL ASSETS TURNOVER

TIMES

9.59

8.03

INVENTORY CONVERSION PERIOD

DAYS

2.82

3.79

INVENTORY TURNOVER

TIMES

129.64

96.43

RECEIVABLES CONVERSION PERIOD

DAYS

19.19

21.80

RECEIVABLES TURNOVER

TIMES

19.02

16.74

PAYABLES CONVERSION PERIOD

DAYS

0.21

0.21

CASH CONVERSION CYCLE

DAYS

21.79

25.37

 

 

 

 

PROFITABILITY RATIO

 

 

 

COST OF GOODS SOLD

%

97.58

97.40

SELLING & ADMINISTRATION

%

2.44

2.66

INTEREST

%

0.00

0.01

GROSS PROFIT MARGIN

%

2.85

3.00

NET PROFIT MARGIN BEFORE EX. ITEM

%

0.41

0.34

NET PROFIT MARGIN

%

0.29

0.23

RETURN ON EQUITY

%

40.94

34.85

RETURN ON ASSET

%

2.76

1.87

EARNING PER SHARE

BAHT

450.97

226.77

 

 

 

 

LEVERAGE RATIO

 

 

 

DEBT RATIO

TIMES

0.93

0.95

DEBT TO EQUITY RATIO

TIMES

13.84

17.59

TIME INTEREST EARNED

TIMES

996.24

62.88

 

 

 

 

ANNUAL GROWTH

 

 

 

SALES GROWTH

%

61.42

 

OPERATING PROFIT

%

96.27

 

NET PROFIT

%

98.87

 

FIXED ASSETS

%

(24.32)

 

TOTAL ASSETS

%

35.15

 


 

 

 

PROFITABILITY RATIO

 

Gross Profit Margin

2.85

Deteriorated

Industrial Average

46.92

Net Profit Margin

0.29

Deteriorated

Industrial Average

6.01

Return on Assets

2.76

Deteriorated

Industrial Average

9.52

Return on Equity

40.94

Impressive

Industrial Average

17.95

 

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 2.85%. When compared with the industry average, the ratio of the company was lower, indicated that company was originated from the 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 0.29%. 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 2.76%.

 

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 40.94%, 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 RATIO

 

Current Ratio

1.06

Deteriorated

Industrial Average

2.78

Quick Ratio

0.90

 

 

 

Cash Conversion Cycle

21.79

 

 

 

 

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 1.06 times in 2011, increased from 1.03 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 0.9 times in 2011, increased from 0.88 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 22 days.

 

Trend of the average competitors in the same industry for last 5 years

Current Ratio                 Uptrend

 

 

 

LEVERAGE RATIO

 

Debt Ratio

0.93

Acceptable

Industrial Average

0.66

Debt to Equity Ratio

13.84

Risky

Industrial Average

1.24

Times Interest Earned

996.24

Impressive

Industrial Average

12.16

 

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 996.24 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 0.93 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                                 Uptrend

Times Interest Earned                Uptrend

 

 

 

ACTIVITY RATIO

 

Fixed Assets Turnover

1,594.50

Impressive

Industrial Average

8.23

Total Assets Turnover

9.59

Impressive

Industrial Average

2.30

Inventory Conversion Period

2.82

 

 

 

Inventory Turnover

129.64

Impressive

Industrial Average

28.98

Receivables Conversion Period

19.19

 

 

 

Receivables Turnover

19.02

Impressive

Industrial Average

3.49

Payables Conversion Period

0.21

 

 

 

 

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.58.27

UK Pound

1

Rs.91.16

Euro

1

Rs.77.50

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.