MIRA
INFORM REPORT
|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
FALCON
EAST CO., LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
11.01.1993 |
|
|
|
|
Com. Reg. No.: |
0105536002391 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
importing
and distributing variety
of industrial chemicals
and adhesive products,
as well as
exporting of printing
papers |
|
|
|
|
No. of Employees : |
07 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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
FALCON EAST CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 235/18 RAJPATTANA
ROAD,
SAPANSUNG, BANGKOK
10240
TELEPHONE : [66] 2927-5825-6
FAX :
[66] 2927-5827
E-MAIL
ADDRESS : info@falconeast.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1993
REGISTRATION
NO. : 0105536002391
TAX
ID NO. : 3011216903
CAPITAL REGISTERED : BHT.
2,000,000
CAPITAL PAID-UP : BHT.
2,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
[Former : JULY
31]
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MS. WALLIKA VANICHKULPITAK, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 7
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
AND ADHESIVES
IMPORTER, DISTRIBUTOR
& EXPORTER
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 January 11,
1993 as a
private limited company under
the originally registered
name “S. B. & W.
Trading Co., Ltd.” by
Thai groups. On August
14, 2002, subject’s
name was changed
to FALCON EAST
CO., LTD., with
the business objective
to distribute variety
of industrial chemicals
and adhesive products
to domestic market.
It currently employs
7 staff.
The
subject’s registered address
was initially located
at 4/6 Rama
1 Rd., Rongmuang
Rd., Pathumwan, Bangkok
10330.
On
May 4, 2009,
its registered address
was relocated to
235/18 Rajpattana Road,
Sapansung, Bangkok 10240, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Wallika Vanichkulpitak |
|
Thai |
40 |
|
Mr. Viriya Wongratanapipat |
|
Thai |
42 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Ms. Wallika Vanichkulpitak is
the Managing Director.
She is Thai
nationality with the
age of 40
years old.
BUSINESS OPERATIONS
The subject’s main
business is engaged
in importing and
distributing variety of
industrial chemicals and
adhesive products, as
well as exporting
of printing papers.
PURCHASE
60% of industrial
chemicals and adhesive
products are imported
from Taiwan, Republic
of China, Singapore,
Japan, Malaysia, Argentina
and Germany, the
remaining 40% is
purchased from local
suppliers, while 100%
of printing papers
is purchased from
local supplier.
SALES [LOCAL]
The products are
sold locally by
wholesale to dealers,
manufacturers and end-users.
EXPORT
100% of printing
papers is exported
to Malaysia.
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
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs 7
staff.
LOCATION
DETAILS
The
premise is owned for
administrative office at the heading
address. Premise is
located in commercial/residential area.
COMMENT
The
subject was formed
in 1993 as
an importer and
distributor of industrial
chemicals and adhesives
products. Its products
have been served
mostly to industrial sector.
However, the subject’s
sales had slow
down in 2011,
this was a
result of massive
floods that damage
various industries.
Generally,
its business is
still promising.
FINANCIAL INFORMATION
The
capital was registered at
Bht. 500,000 divided into
5,000 shares of Bht. 100
each with fully
paid.
On
August 14, 2002,
the capital was
increased to Bht.
2,000,000 divided into
20,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Viriya Wongratanapipat Nationality: Thai Address : 161/42
Moo 3, Tharaeng,
Bangkhen, Bangkok |
10,000 |
50.00 |
|
Ms. Wallika Vanichkulpitak Nationality: Thai Address : 259
Soi Amornphan 4,
Ladyao,
Jatujak, Bangkok |
5,000 |
25.00 |
|
Mr. Teerachai Srithanaprasert Nationality: Thai Address : 235/18
Rajpattana Road, Sapansung, Bangkok |
5,000 |
25.00 |
Total Shareholders : 3
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
20,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
20,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Jeeraporn Vilaisilp No. 7416
BALANCE SHEET [BAHT]
The 2012 financial statement
was not available
during an investigation.
The latest financial figures published
as at July
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
664,406.10 |
527,242.34 |
495,688.71 |
|
Trade Accounts Receivable
|
6,478,585.65 |
1,225,354.18 |
520,943.05 |
|
Inventories |
8,368,810.44 |
2,344,127.14 |
862,089.07 |
|
Prepaid Payment for Goods |
- |
- |
936,434.46 |
|
Other Current Assets
|
481,252.59 |
15,381.78 |
127,051.52 |
|
|
|
|
|
|
Total Current Assets
|
15,993,054.78 |
4,112,105.44 |
2,942,206.81 |
|
Equipment |
1,391,555.20 |
601,688.90 |
719,340.12 |
|
Total Assets |
17,384,609.98 |
4,713,794.34 |
3,661,546.93 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft |
326,756.97 |
- |
- |
|
Trade Accounts Payable |
8,335,974.26 |
271,635.61 |
229,630.60 |
|
Accrued Expenses |
49,063.93 |
113,345.13 |
- |
|
Short-term Loan from Bank |
1,199,564.57 |
- |
- |
|
Current Portion of
Hire-purchase Payable |
152,997.78 |
- |
55,877.69 |
|
Other Current Liabilities |
35,841.18 |
126,927.24 |
317,003.91 |
|
|
|
|
|
|
Total Current Liabilities |
10,100,198.69 |
511,907.98 |
602,512.20 |
|
Hire-purchase Payable, Net of Current Portion |
422,986.08 |
- |
- |
|
Long-term Loan from Person or Related Company |
5,122,450.00 |
2,427,250.00 |
2,010,943.16 |
|
Total Liabilities |
15,645,634.77 |
2,939,157.98 |
2,613,455.36 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized,
issued and fully
paid share
capital 20,000 shares |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
|
|
|
|
|
Capital Paid |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Retained Earning Unappropriated |
[261,024.79] |
[225,363.64] |
[951,908.43] |
|
Total Shareholders' Equity |
1,738,975.21 |
1,774,636.36 |
1,048,091.57 |
|
Total Liabilities & Shareholders' Equity |
17,384,609.98 |
4,713,794.34 |
3,661,546.93 |
PROFIT &
LOSS ACCOUNT
|
Sale |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Operation Income |
20,260,466.60 |
27,666,479.41 |
9,215,171.15 |
|
Other Income |
|
|
|
|
Gain on Exchange Rate |
60,634.75 |
- |
- |
|
Other |
398.46 |
401,053.71 |
369,029.78 |
|
Total Sales |
20,321,499.81 |
28,067,533.12 |
9,584,200.93 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
15,442,450.46 |
22,456,348.17 |
6,756,053.63 |
|
Selling Expenses |
1,967,296.61 |
1,909,260.72 |
858,127.97 |
|
Administrative Expenses |
2,824,437.69 |
2,727,623.27 |
1,688,977.28 |
|
Other Expenses |
- |
- |
13,245.12 |
|
Total Expenses |
20,234,184.76 |
27,093,232.16 |
9,316,404.00 |
|
|
|
|
|
|
Profit /[Loss] before Financial Cost & Income
Tax |
87,315.05 |
974,300.96 |
267,796.93 |
|
Financial Costs |
[122,976.20] |
[138,986.55] |
[48,050.63] |
|
|
|
|
|
|
Profit /[Loss] before Income Tax |
[35,661.15] |
835,314.41 |
219,746.30 |
|
Income Tax |
- |
[108,769.62] |
[34,332.97] |
|
|
|
|
|
|
Net Profit / [Loss] |
[35,661.15] |
726,544.79 |
185,413.33 |
BALANCE SHEET [BAHT]
The latest financial figures published as at December 31, 2011 was:
ASSETS
|
Current Assets |
2011 |
|
|
|
|
Cash and Cash
Equivalents |
1,988,816.12 |
|
Trade Accounts & Notes Receivable |
10,817,894.82 |
|
Inventories |
7,334,538.69 |
|
Other Current Assets
|
84,747.68 |
|
|
|
|
Total Current Assets
|
20,225,997.31 |
|
|
|
|
Vehicle and Equipment |
1,293,873.36 |
|
Other Non-current Assets |
54,450.00 |
|
Total Assets |
21,574,320.67 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
|
|
|
|
Bank Overdraft and Short-term
Loan from Financial Institutions |
6,728,395.86 |
|
Trade Accounts Payable
|
7,430,836.94 |
|
Current Portion of
Hire-purchase Payable |
137,458.16 |
|
Other Current Liabilities |
668,745.39 |
|
|
|
|
Total Current Liabilities |
14,965,436.35 |
|
Long-term Loan from Related
Person |
4,227,250.00 |
|
Hire-purchase Payable, Net of
Current Portion |
378,333.65 |
|
Total Liabilities |
19,571,020.00 |
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 20,000 shares |
2,000,000.00 |
|
|
|
|
Capital Paid |
2,000,000.00 |
|
Retained Earning Unappropriated |
3,300.67 |
|
Total Shareholders' Equity |
2,003,300.67 |
|
Total Liabilities &
Shareholders' Equity |
21,574,320.67 |
PROFIT & LOSS
ACCOUNT
|
Sale |
Aug. 1,
2011 – Dec.
31, 2011 |
|
|
|
|
Sales Income |
18,742,982.82 |
|
Other Income |
41,973.98 |
|
Total Sales |
18,784,956.80 |
|
Expenses |
|
|
|
|
|
Cost of Goods
Sold |
13,606,726.45 |
|
Selling Expenses |
2,091,247.81 |
|
Administrative Expenses |
2,508,583.68 |
|
Total Expenses |
18,206,557.94 |
|
|
|
|
Profit /[Loss] before Financial Cost &
Income Tax |
578,398.86 |
|
Financial Costs |
[268,244.56] |
|
|
|
|
Profit /[Loss] before Income Tax |
310,154.30 |
|
Income Tax |
[45,828.84] |
|
|
|
|
Net Profit / [Loss] |
264,325.46 |
fINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.58 |
8.03 |
4.88 |
|
QUICK RATIO |
TIMES |
0.71 |
3.42 |
1.69 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
14.56 |
45.98 |
12.81 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.17 |
5.87 |
2.52 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
197.81 |
38.10 |
46.57 |
|
INVENTORY TURNOVER |
TIMES |
1.85 |
9.58 |
7.84 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
116.71 |
16.17 |
20.63 |
|
RECEIVABLES TURNOVER |
TIMES |
3.13 |
22.58 |
17.69 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
197.03 |
4.42 |
12.41 |
|
CASH CONVERSION CYCLE |
DAYS |
117.49 |
49.85 |
54.80 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
76.22 |
81.17 |
73.31 |
|
SELLING & ADMINISTRATION |
% |
23.65 |
16.76 |
27.64 |
|
INTEREST |
% |
0.61 |
0.50 |
0.52 |
|
GROSS PROFIT MARGIN |
% |
24.08 |
20.28 |
30.69 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.43 |
3.52 |
2.91 |
|
NET PROFIT MARGIN |
% |
(0.18) |
2.63 |
2.01 |
|
RETURN ON EQUITY |
% |
(2.05) |
40.94 |
17.69 |
|
RETURN ON ASSET |
% |
(0.21) |
15.41 |
5.06 |
|
EARNING PER SHARE |
BAHT |
(1.78) |
36.33 |
9.27 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.90 |
0.62 |
0.71 |
|
DEBT TO EQUITY RATIO |
TIMES |
9.00 |
1.66 |
2.49 |
|
TIME INTEREST EARNED |
TIMES |
0.71 |
7.01 |
5.57 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(26.77) |
200.23 |
|
|
OPERATING PROFIT |
% |
(91.04) |
263.82 |
|
|
NET PROFIT |
% |
(104.91) |
291.85 |
|
|
FIXED ASSETS |
% |
131.27 |
(16.36) |
|
|
TOTAL ASSETS |
% |
268.80 |
28.74 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -26.77%. Turnover has decreased from THB
27,666,479.41 in 2010 to THB 20,260,466.60 in 2011. While net profit has
decreased from THB 726,544.79 in 2010 to THB -35,661.15 in 2011. And total
assets has increased from THB 4,713,794.34 in 2010 to THB 17,384,609.98 in
2011.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
24.08 |
Satisfactory |
Industrial Average |
31.27 |
|
Net Profit Margin |
(0.18) |
Deteriorated |
Industrial Average |
2.40 |
|
Return on Assets |
(0.21) |
Deteriorated |
Industrial Average |
4.28 |
|
Return on Equity |
(2.05) |
Deteriorated |
Industrial Average |
8.66 |
Gross Profit Margin used to assess a firm's financial health by revealing
the proportion of money left over from sales 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 24.08%. 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 -0.18%.
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 -0.21%.
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 -2.05%.
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 |
1.58 |
Impressive |
Industrial Average |
1.29 |
|
Quick Ratio |
0.71 |
|
|
|
|
Cash Conversion Cycle |
117.49 |
|
|
|
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 1.58 times in 2011, decreased from 8.03 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 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 0.71 times in 2011,
decreased from 3.42 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 118 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.90 |
Acceptable |
Industrial Average |
0.51 |
|
Debt to Equity Ratio |
9.00 |
Risky |
Industrial Average |
1.05 |
|
Times Interest Earned |
0.71 |
Risky |
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 0.72 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 0.9 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
14.56 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.17 |
Acceptable |
Industrial Average |
1.78 |
|
Inventory Conversion Period |
197.81 |
|
|
|
|
Inventory Turnover |
1.85 |
Deteriorated |
Industrial Average |
9.47 |
|
Receivables Conversion Period |
116.71 |
|
|
|
|
Receivables Turnover |
3.13 |
Satisfactory |
Industrial Average |
3.52 |
|
Payables Conversion Period |
197.03 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.13 and 22.58
in 2011 and 2010 respectively. This ratio measures the efficiency of the
company in managing its trade debtors to generate sale. 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 decreased from 2010. 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 38 days at the
end of 2010 to 198 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 9.58 times in year 2010 to 1.85 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.17 times and 5.87
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 Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
UK Pound |
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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.