MIRA INFORM REPORT
|
Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
OYSTAR
[THAILAND] LIMITED |
|
|
|
|
Formerly Known As : |
IWK
PACKAGING MACHINERY LIMITED |
|
|
|
|
Registered Office : |
888/45 Moo 19,
Soi Yingcharoen,
Bangplee-Tamru Road, Bangpleeyai, Bangplee, Samutprakarn 10540 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
31.03.1999 |
|
|
|
|
Com. Reg. No.: |
0115542001792 [Former
: SOR POR.
8828] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
importer,
exporter and distributor
of packaging machinery,
spare parts and
related equipment, mainly
for consumer goods,
pharmaceutical and cosmetic
industries |
|
|
|
|
No. of Employees : |
70 |
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 : |
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 – 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
OYSTAR [THAILAND] LIMITED
[FORMER :
IWK PACKAGING MACHINERY
LIMITED]
SUMMARY
BUSINESS
ADDRESS : 888/45
MOO 19, SOI YINGCHAROEN,
BANGPLEE-TAMRU ROAD,
BANGPLEEYAI, BANGPLEE,
SAMUTPRAKARN 10540
TELEPHONE : [66]
2382-5440-6, 081 831-2489
FAX :
[66] 2382-5447,
2382-5449
E-MAIL
ADDRESS : info@oystar-iwk-thai.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1999
REGISTRATION
NO. : 0115542001792 [Former
: SOR POR.
8828]
TAX
ID NO. : 3021012519
CAPITAL
REGISTERED : BHT.
2,100,000
CAPITAL
PAID-UP : BHT. 2,100,000
SHAREHOLDER’S PROPORTION : GERMAN :
100%
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
MATTHIAS JUNGLING, GERMAN
MANAGING DIRECTOR
NO.
OF STAFF : 70
LINES
OF BUSINESS : PACKAGING
MACHINERY & EQUIPMENT
IMPORTER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING
NORMALLY
REPUTATION : GOOD
FOR NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT
WITH GOOD PERFORMANCE
HISTORY
The subject was
established on March
31, 1999 as a
private limited company
under the originally
registered name “IKW
Packaging Machinery Limited”
by German groups, in
order to import
and distribute packaging
machinery and equipment
to local market.
On May 12, 2010,
its name was
changed to OYSTAR
[THAILAND] LIMITED. Subject
currently employs approximately 70 staff.
It is a
wholly owned subsidiary
of IWK Verpackungstechnik GmbH
from Germany.
The subject’s registered
address was initially
located at 49/45
Moo 9, Srinakarin
Rd., Bangna, Bangkok
10260.
In June 2006,
subject’s registered address
was relocated to
888/45 Moo 19,
Soi Yingcharoen, Bangplee-Tamru Rd.,
Bangpleeyai, Bangplee, Samutprakarn
10540, and this
is the company’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
Nationality
|
Age
|
|
|
|
|
Mr. Matthias
Jungling
|
German |
46 |
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with the company’s
affixed.
MANAGEMENT
Mr. Matthias Jungling
is the Managing
Director.
He is
German nationality with
the age of
46 years old.
Mr.
Apichart Lerschaianan
is the Sales
Manager.
He is
Thai nationality.
BUSINESS OPERATIONS
The subject’s activities
are importer, exporter
and distributor of
packaging machinery, spare
parts and related
equipment, mainly for
consumer goods, pharmaceutical and
cosmetic industries.
It is an
exclusive agent of
IWK Verpackungstechnik GmbH
in Germany, providing
engineering consult, repairing
and maintenance services
of the products.
IMPORT [COUNTRIES]
Most of the
products are imported
from United Kingdom,
Republic of China,
India, Taiwan, United
States of America
and Germany, the
rest is purchased
locally.
MAJOR SUPPLIERS
IWK Verpackungstechnik GmbH :
Germany
Oyster USA Inc. : U.S.A.
Benz & Hilgers GmbH : Germany
Oyster Benhil GmbH. : Germany
SALES [LOCAL]
90% of the
products is sold
and serviced locally
to end-users mainly
manufacturers.
EXPORT
10% of the
products is exported
to Indonesia and
Vietnam.
PARENT
COMPANY
IWK Verpackungstechnik GmbH :
Germany
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
credit term of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BUSINESS
TRANSACTION
The products are sold to customers by cash and credit, with the maximum credit given at 30-60 days. The subject is not found to have problem on both accounts receivable and accounts payable.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok 10500]
Kasikornbank Public Co.,
Ltd.
The Siam Commercial
Bank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 70 staff.
[office, sales staff,
engineers and workers]
LOCATION DETAILS
The premise is
rented for administrative office
and warehouse at the heading
address. Premise is
located in industrial
area.
COMMENT
The subject has attained
a solid business
status over year’s
efforts. Its general
situation was favorable
and witnessing stable
growth in its
business turnover.
The packaging sector remains healthy. High technology for the packaging
industry also has potential
for local industries
in order to upgrade
their products and
playing the great
role to improve
competitiveness in world
market.
Packing industry remains
strong from increasing
demand of various
products. Subject’s business
has continued expanding
in line with
promising market.
FINANCIAL INFORMATION
The capital was
registered at Bht.
2,100,000 divided into
21,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS LISTED
WERE: [as at
April 12, 2013]
|
NAME |
HOLDING |
% |
IWK Verpackungstechnik GmbH
Nationality: German Address : Lorenzstraze 6, D-76297
Stutensee, Germany |
20,998 |
100.00 |
|
Mr. Matthias Jungling Nationality: German Address : Germany |
1 |
- |
|
Mr. Deter V.
Grulich Nationality: German Address : Germany |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 12,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - German |
3 |
21,000 |
100.00 |
|
Total |
3 |
21,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Opawadee Metheetrairat
No. 3685
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2012, 2011 &
2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 [Adjusted] |
|
|
|
|
|
|
Cash and Cash Equivalents |
3,304,344 |
9,927,145 |
2,893,473 |
|
Short-term Investment |
2,268 |
2,223 |
2,212 |
|
Trade Accounts & Other
Receivable |
73,607,875 |
63,627,770 |
43,225,257 |
|
Inventories |
68,401,720 |
77,103,624 |
42,901,473 |
|
Other Current Assets
|
48,745,130 |
32,574,371 |
20,514,405 |
|
Total Current Assets
|
194,061,337 |
183,235,133 |
109,536,820 |
|
Fixed Assets |
7,627,893 |
6,942,239 |
3,509,270 |
|
Intangible Assets |
3,757,781 |
1,939,410 |
3,618,102 |
|
Deposit |
6,493,303 |
6,412,014 |
6,194,800 |
|
Total Assets |
211,940,314 |
198,528,796 |
122,858,992 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 [Adjusted] |
|
|
|
|
|
|
Bank Overdraft and Short-term Loan from Financial Institutions |
15,118,523 |
- |
- |
|
Trade Accounts & Other
Payable |
109,006,393 |
129,258,566 |
78,758,606 |
|
Short-term Loans |
- |
20,669,850 |
20,123,200 |
|
Other Current Liabilities |
6,303,653 |
11,677,770 |
3,920,179 |
|
|
|
|
|
|
Total Current Liabilities |
130,428,569 |
161,606,186 |
102,801,985 |
|
Reserve for Employee
Benefit |
689,938 |
689,938 |
- |
|
Total Liabilities |
131,118,507 |
162,296,124 |
102,801,985 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 21,000 shares |
2,100,000 |
2,100,000 |
2,100,000 |
|
|
|
|
|
|
Capital Paid |
2,100,000 |
2,100,000 |
2,100,000 |
|
Retained Earning Appropriated for
Statutory Reserve |
210,000 |
210,000 |
210,000 |
|
Unappropriated |
78,511,807 |
33,922,672 |
17,747,007 |
|
Total Shareholders' Equity |
80,821,807 |
36,232,672 |
20,057,007 |
|
Total Liabilities & Shareholders' Equity |
211,940,314 |
198,528,796 |
122,858,992 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2012 |
2011 |
2010 [Adjusted] |
|
|
|
|
|
|
Sales Income |
492,877,707 |
302,872,206 |
176,468,181 |
|
Service Income |
22,523,238 |
18,845,863 |
13,893,561 |
|
Commission Income |
3,194,818 |
10,095,299 |
10,404,059 |
|
Profit/[Loss] on Exchange Rate |
6,661,036 |
- |
20,897,233 |
|
Other Income |
1,116,134 |
1,278,097 |
1,061,165 |
|
Total Revenues |
526,372,933 |
333,091,465 |
222,724,199 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
340,012,805 |
185,649,132 |
121,893,312 |
|
Cost of Services |
37,275,705 |
29,336,663 |
22,406,003 |
|
Selling Expenses |
25,688,209 |
30,052,348 |
15,583,622 |
|
Administrative Expenses |
64,158,476 |
56,592,814 |
49,579,699 |
|
Total Expenses |
467,135,195 |
301,630,957 |
209,462,636 |
|
|
|
|
|
|
Profit/[Loss] before Financial
Cost & Income Tax |
59,237,738 |
31,460,508 |
13,261,563 |
|
Financial Cost |
[1,031,795] |
[1,158,532] |
[841,711] |
|
Profit/[Loss] before Income Tax |
58,205,943 |
30,301,976 |
12,419,852 |
|
Income Tax |
[13,616,808] |
[14,126,311] |
[4,692,632] |
|
|
|
|
|
|
Net Profit/[Loss] |
44,589,135 |
16,175,665 |
7,727,220 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.49 |
1.13 |
1.07 |
|
QUICK RATIO |
TIMES |
0.59 |
0.46 |
0.45 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
67.57 |
46.34 |
54.25 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.43 |
1.62 |
1.55 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
66.17 |
130.91 |
108.52 |
|
INVENTORY TURNOVER |
TIMES |
5.52 |
2.79 |
3.36 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
52.13 |
72.19 |
82.88 |
|
RECEIVABLES TURNOVER |
TIMES |
7.00 |
5.06 |
4.40 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
105.46 |
219.45 |
199.22 |
|
CASH CONVERSION CYCLE |
DAYS |
12.85 |
(16.36) |
(7.82) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
73.20 |
66.82 |
75.80 |
|
SELLING & ADMINISTRATION |
% |
17.43 |
26.93 |
34.23 |
|
INTEREST |
% |
0.20 |
0.36 |
0.44 |
|
GROSS PROFIT MARGIN |
% |
28.93 |
36.71 |
41.20 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
11.49 |
9.78 |
6.97 |
|
NET PROFIT MARGIN |
% |
8.65 |
5.03 |
4.06 |
|
RETURN ON EQUITY |
% |
55.17 |
44.64 |
38.53 |
|
RETURN ON ASSET |
% |
21.04 |
8.15 |
6.29 |
|
EARNING PER SHARE |
BAHT |
2,123.29 |
770.27 |
367.96 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.62 |
0.82 |
0.84 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.62 |
4.48 |
5.13 |
|
TIME INTEREST EARNED |
TIMES |
57.41 |
27.16 |
15.76 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
60.20 |
69.00 |
|
|
OPERATING PROFIT |
% |
88.29 |
137.23 |
|
|
NET PROFIT |
% |
175.66 |
109.33 |
|
|
FIXED ASSETS |
% |
9.88 |
97.83 |
|
|
TOTAL ASSETS |
% |
6.76 |
61.59 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 60.2%. Turnover has increased from THB
321,718,069.00 in 2011 to THB 515,400,945.00 in 2012. While net profit has
increased from THB 16,175,665.00 in 2011 to THB 44,589,135.00 in 2012. And
total assets has increased from THB 198,528,796.00 in 2011 to THB
211,940,314.00 in 2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
28.93 |
Satisfactory |
Industrial
Average |
32.11 |
|
Net Profit Margin |
8.65 |
Impressive |
Industrial
Average |
3.25 |
|
Return on Assets |
21.04 |
Impressive |
Industrial
Average |
3.46 |
|
Return on Equity |
55.17 |
Impressive |
Industrial
Average |
7.42 |
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 28.93%. 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 8.65%, 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
21.04%, 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 55.17%, 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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.49 |
Satisfactory |
Industrial
Average |
1.49 |
|
Quick Ratio |
0.59 |
|
|
|
|
Cash Conversion Cycle |
12.85 |
|
|
|
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 1.49 times in 2012, increased from 1.13 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 0.59 times in 2012,
increased from 0.46 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 13 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.62 |
Acceptable |
Industrial
Average |
0.55 |
|
Debt to Equity Ratio |
1.62 |
Risky |
Industrial
Average |
1.26 |
|
Times Interest Earned |
57.41 |
Impressive |
Industrial
Average |
0.79 |
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 57.42 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 0.62 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 |
67.57 |
Impressive |
Industrial
Average |
0.37 |
|
Total Assets Turnover |
2.43 |
Impressive |
Industrial
Average |
1.04 |
|
Inventory Conversion Period |
66.17 |
|
|
|
|
Inventory Turnover |
5.52 |
Impressive |
Industrial
Average |
2.57 |
|
Receivables Conversion Period |
52.13 |
|
|
|
|
Receivables Turnover |
7.00 |
Impressive |
Industrial
Average |
2.46 |
|
Payables Conversion Period |
105.46 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.00 and 5.06 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 131 days at the
end of 2011 to 66 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 2.79 times in year 2011 to 5.52 times
in year 2012.
The company's Total Asset Turnover is calculated as 2.43 times and 1.62
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.59.70 |
|
UK Pound |
1 |
Rs.91.14 |
|
Euro |
1 |
Rs.77.98 |
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.