MIRA
INFORM REPORT
|
Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TANYARIN DECORATION CO., LTD. |
|
|
|
|
Registered Office : |
18 Soi Bangwaek
122, Bangwaek Road, Bangphai, Bangkae,
Bangkok 10160 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
29.03.2004 |
|
|
|
|
Com. Reg. No.: |
0105547045313 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Service, Importer & Distributor of Interior Decoration and Decorative Products |
|
|
|
|
No. of Employees : |
12 |
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
TANYARIN
DECORATION CO., LTD.
SUMMARY
BUSINESS ADDRESS : 18 SOI BANGWAEK
122, BANGWAEK ROAD,
BANGPHAI, BANGKAE,
BANGKOK 10160
TELEPHONE : [66] 2865-4033,
2865-4655-6, 2865-4099, 2865-4355
FAX : [66] 2865-4211
E-MAIL ADDRESS : sales.tanyarin@gmail.com
tanyarin@gmail.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2004
REGISTRATION NO. : 0105547045313
TAX ID NO. : 3031320291
CAPITAL REGISTERED : BHT.
1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SOMSAK DUMRONGKIJKARN, THAI
MANAGING DIRECTOR
NO. OF STAFF : 12
LINES OF BUSINESS : INTERIOR DECORATION
AND DECORATIVE
PRODUCTS
SERVICE, IMPORTER
& 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 March
29, 2004 as
a private limited
company under the registered
name TANYARIN DECORATION
CO., LTD., by Thai groups,
with the objective to
supply products and
service for decorative
business. It currently
employs 12 staff.
The subject’s registered
address was initially
located at 99/88
Soi Udomsap, Bangwaek
Rd., Bangphai, Bangkae,
Bangkok 10160.
On December 8,
2009, its registered
address was relocated
to is 18
Soi Bangwaek 122,
Bangwaek Road, Bangphai,
Bangkae, Bangkok 10160,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
Mr. Somsak Dumrongkijkarn
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Somsak Dumrongkijkarn is
the Managing Director.
He is Thai
nationality with the
age of 50
years old.
BUSINESS OPERATIONS
The subject’s main
business is engaged
in providing interior
design and decoration
service with decorative
printing style for
residential and commercial
building, such as
housing, condominium, office
building, hotel &
resort, department store, spa & showroom and etc.,
as well as
importing and distributing
various kinds of
decorative products as
the followings:
Product Brand
Decoration paints & coloring “NOVACOLOR”
Decorative polished plaster
products “ARMOURCOAT”
Unique stone casting
products “ARMOURCOAT”
Interior wall coating
system “ARMOURCOAT”
Concreted solution products “EDFAN”
Gilding & artwork
products -
etc.
PURCHASE
The products are purchased from
suppliers both domestic
and overseas, mainly
in United Kingdom,
Spain and Italy.
MAJOR SUPPLIERS
Armourcoat Ltd. : U.K.
Novacolor Srl. : Italy
Edfan : Spain
SALES/SERVICES
100% of the
products is sold
and serviced locally to
wholesalers, contractors and
end-users.
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 30-60-90 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 currently
employs 12 staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in commercial/residential area.
COMMENT
The subject provides sale
and services of decorative
products and interior
design. The products
are mainly served to
consumer sector. Increased consumption from
property improvement has
contributed to expand
its business.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Somsak Dumrongkijkarn Nationality: Thai Address : 313
Sirindhorn Rd., Bangbamru,
Bangplad, Bangkok |
8,995 |
89.95 |
|
Mr. Kulthong Chattasa Nationality: Thai Address : 93/16
Bangkhunnont Rd., Bangkhunnont,
Bangkok |
1,000 |
10.00 |
|
Mrs. Nantha Chattasa Nationality: Thai Address : 93/16
Bangkhunnont Rd., Bangkhunnont,
Bangkok |
1 |
0.01 |
|
Mrs. Chitra Chayakul Nationality: Thai Address : 67/1
Bangkoknoi-Talingchan Rd.,
Bangkhunnont, Bangkoknoi, Bangkok |
1 |
0.01 |
|
Ms. Chintana Amnuaypolchai Nationality: Thai Address : 121/93-94
Phyathai Rd., Thanon
Petchburi,
Rajthewi, Bangkok |
1 |
0.01 |
|
Ms. Yaowalak Dumrongkijkarn Nationality: Thai Address : 121/93-94
Phyathai Rd., Thanon
Petchburi,
Rajthewi, Bangkok |
1 |
0.01 |
|
Mrs. Wanna Reabroy Nationality: Thai Address : 77
Pracharaj Rd., T. Khanngern, A.
Langsuan, Chumporn |
1 |
0.01 |
Total Shareholders : 7
Share Structure
[as at April
30, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
10,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
10,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Parichat Chotephumwej No. 9845
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
41,253.11 |
47,118.29 |
52,108.13 |
|
Trade Accounts Receivable
|
219,147.25 |
225,427.86 |
714,645.90 |
|
Short-term Lending to
Related Person |
7,576,364.00 |
7,889,259.00 |
1,052,170.42 |
|
Guarantee Works |
1,360,221.17 |
1,212,193.42 |
- |
|
Inventories |
1,260,963.62 |
989,308.78 |
7,993,851.00 |
|
Other Current Assets
|
2,370,990.28 |
1,092,653.78 |
3,460,748.27 |
|
|
|
|
|
|
Total Current Assets
|
12,828,939.43 |
11,455,961.13 |
13,273,523.72 |
|
|
|
|
|
|
Fixed Assets |
7,475,217.52 |
7,211,573.99 |
7,921,321.28 |
|
Other Non-current Assets |
38,000.00 |
38,000.00 |
38,000.00 |
|
Total Assets |
20,342,156.95 |
18,705,535.12 |
21,232,845.00 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
10,479,291.58 |
9,487,684.55 |
6,097,115.96 |
|
Trade Accounts Payable
|
2,219,648.69 |
1,719,280.11 |
1,804,488.99 |
|
Short-term Loan from Related
Person |
706,771.55 |
704,126.81 |
3,624,000.00 |
|
Current Portion of
Hire-purchase Payable |
542,585.00 |
434,300.28 |
391,671.27 |
|
Current Portion of
Long-term Loans |
1,115,958.49 |
1,408,017.00 |
- |
|
Other Current Liabilities |
503,716.06 |
351,583.50 |
337,266.98 |
|
|
|
|
|
|
Total Current Liabilities |
15,567,971.37 |
14,104,992.25 |
12,254,543.20 |
|
|
|
|
|
|
Hire-purchase Payable |
556,612.70 |
419,678.37 |
463,408.90 |
|
Long-term Loan from Bank |
1,797,201.56 |
2,913,160.05 |
4,059,888.15 |
|
Total Liabilities |
17,921,785.63 |
17,437,830.67 |
16,777,840.25 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
|
|
|
|
|
Capital Paid |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning Unappropriated |
1,420,371.32 |
267,704.45 |
3,455,004.75 |
|
Total Shareholders' Equity |
2,420,371.32 |
1,267,704.45 |
4,455,004.75 |
|
Total Liabilities & Shareholders' Equity |
20,342,156.95 |
18,705,535.12 |
21,232,845.00 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales and Services Income |
39,180,115.27 |
23,248,400.41 |
36,647,467.74 |
|
Other Income |
83,404.09 |
238,100.59 |
519,955.83 |
|
Total Revenues |
39,263,519.36 |
23,486,501.00 |
37,167,423.57 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
18,100,624.07 |
11,026,220.07 |
17,622,477.41 |
|
Selling Expenses |
1,977,567.26 |
851,887.55 |
1,946,602.65 |
|
Administrative Expenses |
16,333,092.58 |
13,782,159.27 |
15,599,845.85 |
|
Total Expenses |
36,411,283.91 |
25,660,266.89 |
35,168,925.91 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
2,852,235.45 |
[2,173,765.89] |
1,998,497.66 |
|
Financial Costs |
[1,065,462.26] |
[1,013,534.41] |
[841,043.43] |
|
Profit / [Loss] before Income
Tax |
1,786,773.19 |
[3,187,300.30] |
1,157,454.23 |
|
Income Tax |
[634,106.32] |
- |
[615,315.07] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,152,666.87 |
[3,187,300.30] |
542,139.16 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.82 |
0.81 |
1.08 |
|
QUICK RATIO |
TIMES |
0.59 |
0.66 |
0.15 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.24 |
3.22 |
4.63 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.93 |
1.24 |
1.73 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
25.43 |
32.75 |
165.57 |
|
INVENTORY TURNOVER |
TIMES |
14.35 |
11.15 |
2.20 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
2.04 |
3.54 |
7.12 |
|
RECEIVABLES TURNOVER |
TIMES |
178.78 |
103.13 |
51.28 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
44.76 |
56.91 |
37.37 |
|
CASH CONVERSION CYCLE |
DAYS |
(17.29) |
(20.62) |
135.31 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
46.20 |
47.43 |
48.09 |
|
SELLING & ADMINISTRATION |
% |
46.73 |
62.95 |
47.88 |
|
INTEREST |
% |
2.72 |
4.36 |
2.29 |
|
GROSS PROFIT MARGIN |
% |
54.01 |
53.60 |
53.33 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.28 |
(9.35) |
5.45 |
|
NET PROFIT MARGIN |
% |
2.94 |
(13.71) |
1.48 |
|
RETURN ON EQUITY |
% |
47.62 |
(251.42) |
12.17 |
|
RETURN ON ASSET |
% |
5.67 |
(17.04) |
2.55 |
|
EARNING PER SHARE |
BAHT |
115.27 |
(318.73) |
54.21 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.88 |
0.93 |
0.79 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.40 |
13.76 |
3.77 |
|
TIME INTEREST EARNED |
TIMES |
2.68 |
(2.14) |
2.38 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
68.53 |
(36.56) |
|
|
OPERATING PROFIT |
% |
(231.21) |
(208.77) |
|
|
NET PROFIT |
% |
136.16 |
(687.91) |
|
|
FIXED ASSETS |
% |
3.66 |
(8.96) |
|
|
TOTAL ASSETS |
% |
8.75 |
(11.90) |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 68.53%. Turnover has increased from THB
23,248,400.41 in 2010 to THB 39,180,115.27 in 2011. While net profit has
increased from THB -3,187,300.30 in 2010 to THB 1,152,666.87 in 2011. And total
assets has increased from THB 18,705,535.12 in 2010 to THB 20,342,156.95 in
2011.
PROFITABILITY : EXCELLENT
PROFITABILITY RATIO
|
Gross Profit Margin |
54.01 |
Impressive |
Industrial Average |
10.50 |
|
Net Profit Margin |
2.94 |
Impressive |
Industrial Average |
1.46 |
|
Return on Assets |
5.67 |
Impressive |
Industrial Average |
2.62 |
|
Return on Equity |
47.62 |
Impressive |
Industrial Average |
7.11 |
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 54.01%. 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 2.94%,
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
5.67%, 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 47.62%, 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 Downtrend
LIQUIDITY : ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.82 |
Risky |
Industrial Average |
1.62 |
|
Quick Ratio |
0.59 |
|
|
|
|
Cash Conversion Cycle |
(17.29) |
|
|
|
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 0.82 times in 2011, increased from 0.81 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 0.59 times in 2011,
decreased from 0.66 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 -18 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.88 |
Acceptable |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
7.40 |
Risky |
Industrial Average |
1.75 |
|
Times Interest Earned |
2.68 |
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 2.68 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 0.88 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 |
5.24 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.93 |
Impressive |
Industrial Average |
1.80 |
|
Inventory Conversion Period |
25.43 |
|
|
|
|
Inventory Turnover |
14.35 |
Impressive |
Industrial Average |
4.08 |
|
Receivables Conversion Period |
2.04 |
|
|
|
|
Receivables Turnover |
178.78 |
Impressive |
Industrial Average |
2.85 |
|
Payables Conversion Period |
44.76 |
|
|
|
The company's Account Receivable Ratio is calculated as 178.78 and
103.13 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 decreased from 33 days at the
end of 2010 to 25 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 11.15 times in year 2010 to 14.35
times in year 2011.
The company's Total Asset Turnover is calculated as 1.93 times and 1.24
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 Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
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.