MIRA INFORM REPORT
|
Report Date : |
19.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIAM
FLEXIBLE INDUSTRIES CO.,
LTD. |
|
|
|
|
Registered Office : |
12/3
Moo 4, T. Nadee,
A. Muang, Samutsakorn 74000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
22.03.2005 |
|
|
|
|
Com. Reg. No.: |
0105548040587 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, exporter and
distributor of plastic bag products |
|
|
|
|
No. of Employees : |
180 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
US$
500,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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
SIAM FLEXIBLE INDUSTRIES CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 12/3
MOO 4, T. NADEE,
A. MUANG,
SAMUTSAKORN 74000,
THAILAND
TELEPHONE : [66] 34
861-348-9
FAX :
[66] 34
861-350
E-MAIL
ADDRESS : sales@siamflexible.net
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2005
REGISTRATION
NO. : 0105548040587
TAX
ID NO. : 3031750319
CAPITAL REGISTERED : BHT. 50,603,750
CAPITAL PAID-UP : BHT.
50,603,750
SHAREHOLDER’S PROPORTION : AUSTRALIAN : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. FRANK REGINALD
REITSEMA, AUSTRALIAN
MANAGING DIRECTOR
NO.
OF STAFF : 180
LINES
OF BUSINESS : PLASTIC BAG
PRODUCTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
LOW PERFORMANCE
HISTORY
The
subject was established
on March 22, 2005
as a private
limited company under the
registered name SIAM
FLEXIBLE INDUSTRIES CO.,
LTD., by Australian
groups, with the business objective to
manufacture various kinds
of plastic bag
products to both domestic
and international markets.
It currently employs
approximately 180 staff.
The subject is
an affiliate of
Reitsema Packaging Pty.
Ltd., in Australia.
The subject’s registered address is 12/3 Moo 4, T. Nadee, A. Muang,
Samutsakorn 74000, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Frank Reginald Reitsema |
|
Australian |
52 |
|
Mr. Lukas Alexander Reitsema |
|
Australian |
46 |
|
Mr. Graham Richard Knight |
|
British |
45 |
|
Mr. David John Conquest |
|
British |
45 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Frank Reginald Reitsema
is the Managing
Director.
He is Australian
nationality with the
age of 52
years old.
Mr. David John Conquest
is the Factory
Manager.
He is British
nationality with the
age of 45
years old.
Ms. Anna Rita is
the Sales & Marketing Manager.
She is Filipino
nationality.
BUSINESS OPERATIONS
The subject
is engaged in manufacturing
and servicing various
kinds of plastic
bag products as
the followings:
1. Zip Lock/Reclosable Bags
- Standard
zip lock with
or without write
on panel
-
3 or 4
wall specimen bags
-
Coin bags
-
Tamper evident bags
-
Double closure leak-proof
bags
-
Mother’s milk storage
bags
-
Bottom gusset bags
-
Wicket zip lock
bags for machine
packing
2. Wicket Bags
- LDPE
wicket bags for
Agpac and Newtech
vegetable packing machine
- LDPE
wicket bags for
high speed bread
packing
- PP
wicket bags for
bread with micro
perforations
- LDPE
bags for machine
packing of ice
- PP
and LDPE wicket
bags for lettuce
packing
- LDPE
wicket bags for
celery packing
3. Bags
- LDPE / HDPE
bags, side and
bottom seal from
20-200 um
- LDPE / HDPE
bags perforated on
rolls
- LDPE
bags with UV
inhibitor and anti-slip
properties
- LDPE
heat shrink bags
and films
- LDPE / HDPE
bags perforated on
rolls for industrial
use
- LDPE
bags for fresh
and frozen food
- LDPE
bags for frozen
pet food
- LDPE / HDPE
heavy duty bags
for fertilizer packing
5-25 kg.
4. Films
- LDPE
film for lamination
for food packing
- HDPE
film for use in
paper
multi-wall sacks
- Co-extruded
agriculture films and
mulch films
- LDPE
film for bundle
heat shrink
- LDPE
film for magazine
wrapping on flow
wrapping machines
- LDPE
film for protective
wrapping
- LDPE
film for from
fill seal machines
- LDPE
film with and
without micro perforations
for vegetable wrapping
PRODUCTION CAPACITY
750 tons per
month
PURCHASE
Most
of raw materials,
mainly plastic resin
[PE/ PP/ LDPE] are purchased
from local suppliers,
the remaining is
imported from Republic
of China, Japan
and Australia.
SALES/SERVICES
90% of the
products is exported
to U.S.A., U.K.,
Australia and many
countries in Middle
East and Africa,
the remaining 10%
is sold and serviced
locally.
MAJOR CUSTOMERS
Reitsema Packaging Pty.
Ltd. : Australia
Arplast Poly Packaging
Inc. : U.S.A.
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.
Imports are by
T/T.
Exports are against
T/T.
BANKING
Kasikornbank
Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
180 office staff
and factory workers.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial,
on the outskirts
of Bangkok.
REMARK
MAXIMUM
CREDIT SHOULD BE
GRANTED AT US$
500,000.
COMMENT
The subject is
engaged in design
and manufacturing of plastic bags
for foods and
industrial goods, with the different kinds
of materials and
sizes including film
to meet with customer’s demand. The
products are produced
from materials such
as HDPE, LDPE,
PP and etc.
Subject has strong
production capability in order to
serve the customer
with high technology
processing.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 10,000,000 divided
into 1,000,000 shares
of Bht. 10
each with fully
paid.
The
capital was increased
later as follows:
Bht. 14,000,000
on May 24,
2005
Bht. 15,400,000
on May 22,
2006
Bht. 50,603,750
on March 14,
2007
The
latest registered capital
was increased to
Bht. 50,603,750 divided
into 5,060,375 shares
of Bht. 10 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Reitsema Holdings [International] Pty. Ltd. Nationality: Australian Address : 46 Cameron Street,
Launceston, TAS 7250, Australia |
2,952,355 |
58.34 |
|
Mr. Frank Reginald Reitsema Nationality: Australian Address : Mount
Nasura, Western Australia, Australia |
1,054,005 |
20.83 |
|
Mr. Lukas Alexander Reitsema Nationality: Australian Address : 46
Freshwater Point Street,
Legana, TAS 7277,
Australia |
1,054,005 |
20.83 |
|
Mr. Chanaichon Mahachanant Nationality: Thai Address : 801
Dindaeng Rd., Dindaeng,
Bangkok |
10 |
- |
Total Shareholders : 4
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
10 |
- |
|
Foreign - Australian |
3 |
5,060,365 |
100.00 |
|
Total |
4 |
5,060,375 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Kitti Veeratananond No.
5196
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
11,134,013.15 |
14,008,357.94 |
8,887,465 |
|
Trade Accounts Receivable |
24,635,852.40 |
41,418,822.66 |
29,622,766 |
|
Inventories |
26,400,618.41 |
34,424,006.68 |
29,681,093 |
|
Other Current Assets |
|
- |
11,643,434 |
|
Total Current Assets
|
62,170,483.96 |
89,851,187.28 |
79,834,758 |
|
|
|
|
|
|
Cash at Bank Pledged as
a Collateral |
15,354,000.00 |
15,354,000.00 |
15,365,058 |
|
Fixed Assets |
56,786,511.48 |
58,275,691.56 |
65,587,883 |
|
Intangible Assets |
2,262,632.15 |
2,339,076.87 |
- |
|
Deposit |
1,860,306.81 |
1,780,200.00 |
1,852,700 |
|
Total Assets |
138,433,934.40 |
167,600,155.71 |
162,640,399 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
39,170,000.00 |
46,231,849.38 |
31,900,000 |
|
Short-term Loan from Related Company |
- |
- |
31,985,386 |
|
Trade Accounts & Notes Payable |
25,297,271.92 |
24,233,461.95 |
23,059,955 |
|
Other Payable-Machinery &
Equipment |
- |
- |
2,095,809 |
|
Current Portion of Financial
Lease Contract Liabilities |
3,138,978.18 |
2,428,778.72 |
4,794,687 |
|
Other Current Liabilities |
1,237,942.07 |
2,457,942.07 |
7,615,441 |
|
Total Current Liabilities |
68,844,192.17 |
75,352,032.12 |
101,451,278 |
|
|
|
|
|
|
Financial Lease Contract Liabilities, Net of
Current Portion |
4,743,523.54 |
1,315,594.29 |
- |
|
Other Non-current Liabilities |
37,151,824.65 |
40,960,850.06 |
3,572,406 |
|
Total Liabilities |
110,739,540.36 |
117,628,476.47 |
105,023,684 |
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
value authorized, issued
and fully paid share
capital 5,060,375 shares |
50,603,750 |
50,603,750 |
50,603,750 |
|
Capital Paid |
50,603,750 |
50,603,750 |
50,603,750 |
|
Retained Earning -
Unappropriated |
[22,909,355.96] |
[632,070.76] |
7,012,965 |
|
Total Shareholders' Equity |
27,694,394.04 |
49,971,679.24 |
57,616,715 |
|
Total Liabilities & Shareholders' Equity |
138,433,934.40 |
167,600,155.71 |
162,640,399 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
319,122,940.56 |
343,867,311.45 |
320,747,124 |
|
Gain on Exchange Rate |
980,148.04 |
2,379,585.00 |
- |
|
Other Income |
6,743,831.23 |
4,391,366.96 |
4,298,208 |
|
Total Revenues |
326,846,919.83 |
350,638,263.41 |
325,045,332 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
300,075,537.65 |
316,882,315.57 |
281,792,268 |
|
Selling and Administrative
Expenses |
19,785,824.75 |
17,253,166.58 |
36,405,296 |
|
Loss on Exchange Rate |
22,262,739.58 |
17,518,652.29 |
870,875 |
|
Loss on Disposal of
Assets |
- |
- |
238,007 |
|
Total Expenses |
342,124,101.98 |
351,654,134.44 |
319,306,446 |
|
Profit /[Loss] before Financial
Costs & Income Tax |
[15,277,182.15] |
[1,015,871.03] |
5,738,886 |
|
Financial Costs |
[7,000,103.05] |
[6,629,164.10] |
[4,487,897] |
|
Income Tax |
- |
- |
[1,017,077] |
|
Net Profit / [Loss] |
[22,277,285.20] |
[7,645,035.13] |
233,912 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.90 |
1.19 |
0.79 |
|
QUICK RATIO |
TIMES |
0.52 |
0.74 |
0.38 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.62 |
5.90 |
4.89 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.31 |
2.05 |
1.97 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
32.11 |
39.65 |
38.45 |
|
INVENTORY TURNOVER |
TIMES |
11.37 |
9.21 |
9.49 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
28.18 |
43.96 |
33.71 |
|
RECEIVABLES TURNOVER |
TIMES |
12.95 |
8.30 |
10.83 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
30.77 |
27.91 |
29.87 |
|
CASH CONVERSION CYCLE |
DAYS |
29.52 |
55.70 |
42.29 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
94.03 |
92.15 |
87.85 |
|
SELLING & ADMINISTRATION |
% |
6.20 |
5.02 |
11.35 |
|
INTEREST |
% |
2.19 |
1.93 |
1.40 |
|
GROSS PROFIT MARGIN |
% |
8.39 |
9.82 |
13.49 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(4.79) |
(0.30) |
1.79 |
|
NET PROFIT MARGIN |
% |
(6.98) |
(2.22) |
0.07 |
|
RETURN ON EQUITY |
% |
(80.44) |
(15.30) |
0.41 |
|
RETURN ON ASSET |
% |
(16.09) |
(4.56) |
0.14 |
|
EARNING PER SHARE |
BAHT |
(4.40) |
(1.51) |
0.05 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.80 |
0.70 |
0.65 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.00 |
2.35 |
1.82 |
|
TIME INTEREST EARNED |
TIMES |
(2.18) |
(0.15) |
1.28 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(7.20) |
7.21 |
|
|
OPERATING PROFIT |
% |
1,403.85 |
(117.70) |
|
|
NET PROFIT |
% |
(191.40) |
(3,368.34) |
|
|
FIXED ASSETS |
% |
(2.56) |
(11.15) |
|
|
TOTAL ASSETS |
% |
(17.40) |
3.05 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -7.2%. Turnover has decreased from THB
343,867,311.45 in 2011 to THB 319,122,940.56 in 2012. While net profit has
decreased from THB -7,645,035.13 in 2011 to THB -22,277,285.20 in 2012. And
total assets has decreased from THB 167,600,155.71 in 2011 to THB
138,433,934.40 in 2012.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.39 |
Deteriorated |
Industrial Average |
27.61 |
|
Net Profit Margin |
(6.98) |
Deteriorated |
Industrial Average |
1.78 |
|
Return on Assets |
(16.09) |
Deteriorated |
Industrial Average |
2.64 |
|
Return on Equity |
(80.44) |
Deteriorated |
Industrial Average |
6.67 |
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 8.39%. 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 -6.98%.
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 -16.09%.
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. When compared with the
industry average, it was lower, the company's figure is -80.44%.
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 |
0.90 |
Risky |
Industrial Average |
1.09 |
|
Quick Ratio |
0.52 |
|
|
|
|
Cash Conversion Cycle |
29.52 |
|
|
|
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 0.9 times in 2012, decreased from 1.19 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 0.52 times in 2012,
decreased from 0.74 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 30 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.80 |
Acceptable |
Industrial Average |
0.61 |
|
Debt to Equity Ratio |
4.00 |
Risky |
Industrial Average |
1.48 |
|
Times Interest Earned |
(2.18) |
Risky |
Industrial Average |
1.32 |
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 -2.19 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.8 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 |
5.62 |
Impressive |
Industrial Average |
0.61 |
|
Total Assets Turnover |
2.31 |
Impressive |
Industrial Average |
1.45 |
|
Inventory Conversion Period |
32.11 |
|
|
|
|
Inventory Turnover |
11.37 |
Impressive |
Industrial Average |
6.65 |
|
Receivables Conversion Period |
28.18 |
|
|
|
|
Receivables Turnover |
12.95 |
Impressive |
Industrial Average |
2.79 |
|
Payables Conversion Period |
30.77 |
|
|
|
The company's Account Receivable Ratio is calculated as 12.95 and 8.30
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.
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 40 days at the
end of 2011 to 32 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 9.21 times in year 2011 to 11.37
times in year 2012.
The company's Total Asset Turnover is calculated as 2.31 times and 2.05
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.58.45 |
|
UK Pound |
1 |
Rs.91.60 |
|
Euro |
1 |
Rs.77.91 |
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.