MIRA INFORM REPORT
|
Report Date : |
15.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
L.B.S.
LABORATORY LIMITED PARTNERSHIP
- 213911 |
|
|
|
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Registered Office : |
602 Soi Panich-Anant, Sukhumvit 71 Road, Klongtonnua, Wattana, Bangkok 10110 |
|
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|
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Country : |
Thailand |
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|
|
|
Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
29.01.1968 |
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Com. Reg. No.: |
0103511001446 |
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Legal Form : |
Limited Partnership |
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|
|
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Line of Business : |
Manufacturer, distributor &
exporter of pharmaceutical
products |
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|
No. of Employees : |
320 |
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 |
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Payment Behaviour : |
Usually Correct |
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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 |
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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
L.B.S. LABORATORY
LIMITED PARTNERSHIP
SUMMARY
BUSINESS ADDRESS : 602
SOI PANICH-ANANT, SUKHUMVIT
71 ROAD, KLONGTONNUA, WATTANA,
BANGKOK 10110
TELEPHONE : [662] 392-4082-3,
392-4166
FAX : [662] 391-7122-3
E-MAIL ADDRESS : benz@lbslab.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1968
REGISTRATION NO. : 0103511001446
TAX ID NO. : 3102086392
CAPITAL
REGISTERED : BHT.
50,000,000
CAPITAL
PAID-UP : BHT.
50,000,000
PARTNER’S PROPORTION : THAI :
100%
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : LIMITED PARTNERSHIP
EXECUTIVE : MR.
PIYA THIRAKARN, THAI
MANAGING PARTNER
NO. OF
STAFF : 320
LINES OF
BUSINESS : PHARMACEUTICAL PRODUCTS
MANUFACTURER, DISTRIBUTOR
& 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 formed
on January 29,
1968 as a
limited partnership under
the registered name
L.B.S. LABORATORY LIMITED
PARTNERSHIP, by Mr. Piya
Thirakarn and family,
with the business
objective initially to
operate license manufacture
for human pharmaceutical products
with GMP practice,
especially in therapeutic
area. It obtains
the manufacturing license
from the Ministry
of Public Health, Thailand.
Presently,
its business expands
to produce herbals
and personal care
products. It currently employs
approximately 320 staff.
The
subject achieved the
standard ISO 9001 : 2000, ISO 14001 : 2000 certifications, by TUV
certified company, as
well as GLP [ISO/IEC 17025] certification
from Ministry of
Public Health. It
is also a
member of Thai
Pharmaceutical Manufacturer Association.
The
subject’s registered address
is 602 Soi
Panich-anant, Sukhumvit 71
Rd., Klongtonnua, Wattana,
Bangkok 10110, and
this is the
subject’s current operating
address.
AUTHORIZED PERSON
Mr. Piya
Thirakarn
Mrs. Saovalak Thirakarn
Ms. Leela [Oranee] Thirakarn
Anyone
of the above
partners can sign
on behalf of
the subject with
seal affixed. All of them
bear full financial
responsibilities by law.
Note.
Ms. Oranee
Thirakarn changed her
name to Ms. Leela,
on November 4,
2004.
MANAGEMENT
Mr. Piya
Thirakarn is the
Managing Partner.
He is Thai
nationality with the
age of 75
years old.
Mrs. Saovalak
Thirakarn is the
General Manager.
She is Thai
nationality with the
age of 73
years old.
Ms. Leela
[Oranee] Thirakarn is
the Assistant Manager
She is Thai
nationality with the
age of 48
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing,
distributing and exporting
of pharmaceuticals [pharma drugs],
and herbal products,
with all forms
of dosage units,
such as Chotisan
capsules, Spirulina capsules
and tablets, Garcinia
capsules, Think Ginko
Extract capsules, Ginseng
capsules, and other
natural nutritional food
products, such as
Chromium tablets, Shark
cartilage capsules, Silymarin
capsules, Mineral tablets
and Calcium Ferrous
preparations, as well
as personal care
products.
MAJOR BRANDS
“ACETIN”, “MEGROL”, “KANOLONE”,
“CEFALON” and etc.
PURCHASE
80% of raw
materials is purchased
from local suppliers,
and the rest
is imported from
Germany, U.S.A., France,
Republic of China
and United Kingdom.
MAJOR SUPPLIERS
P.R. Chemical Co.,
Ltd. : Thailand
Bank Trading Co.,
Ltd. : Thailand
SALES [LOCAL]
60% of its
products is sold
locally to hospital,
drug store and
others both private
company and government
sectors.
EXPORT [COUNTRY]
40% of its
products is exported
to Singapore, Taiwan,
Malaysia, Hong Kong,
Vietnam, Laos, Philippines,
Indonesia, Republic of
China, and many
countries in Africa
and Middle East region.
MAJOR CUSTOMERS
Buriram Hospital : Thailand
Maharat Nakornrachasima Hospital : Thailand
General Hospitals : Thailand
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 credit term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
L/C at sight.
Exports are against
L/C at sight.
BANKING
Bangkok Bank Public
Co., Ltd. [Sukhumvit
Rd.]
Siam Commercial Bank Public
Co., Ltd. [Sukhumvit Rd.]
EMPLOYMENT
The subject employs
approximately 320 staff. [office
staff & factory
worker]
LOCATION DETAILS
The premise is
owned for operating
office at the
heading address in
a residential/commercial area.
Factory and warehouse
are located at
50 Moo 3,
Liebklong 7 Road,
T. Buengkamproi, A.
Lamlukka, Pathumthani 12150.
COMMENT
The
subject initiated a
robust business conglomerate
in pharmaceuticals by
successful marketing approach
and the consistent
high quality products.
It
is one of
a few Thai
pharmaceutical companies to
make a step
into exports successfully,
establishing the name
in many destinations
including Central America,
Middle East, Africa
and South-East Asia
region with over
150 product registrations
in more than
17 countries and
domestic markets.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 10 million,
which was carried
by 6 persons
as follows:
Mr. Piya Thirakarn Bht. 3,000,000
[Unlimited Partner]
Mrs. Saovalak Thirakarn Bht. 3,000,000
Ms. Oranee Thirakarn Bht. 1,000,000
Ms. Vallapa Thirakarn Bht. 1,000,000
Mr. Peerawat Thirakarn Bht. 1,000,000
Mr. Thitapong Thirakarn Bht. 1,000,000
On September 10,
1996 capital was
increased to Bht.
20 million, which
was carried by
6 persons follows:
Name Age Amount
Mr. Piya Thirakarn Bht. 6,000,000 [Unlimited Partner]
Mrs. Saovalak Thirakarn Bht. 6,000,000
Ms. Oranee Thirakarn Bht. 2,000,000
Mr. Peerawat Thirakarn Bht. 2,000,000
Ms. Vallapa Thirakarn Bht. 2,000,000
Mr. Thitapong Thirakarn Bht. 2,000,000
Later the
capital was increased
to Bht. 50
million, which was
carried by 6
persons follows:
Name Age
Amount
Mr. Piya Thirakarn 75 Bht.
15,000,000 [Unlimited Partner]
Mrs. Saovalak Thirakarn 73 Bht.
15,000,000 [Unlimited Partner]
Ms. Leela [Oranee] Thirakarn 48 Bht.
5,000,000 [Unlimited Partner]
Mr. Peerawat Thirakarn 45 Bht.
5,000,000
Ms. Phannalak Thirakarn 47 Bht.
5,000,000
Mr. Thitapong Thirakarn 43 Bht.
5,000,000
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Ms. Poonsri Preechapanich
No. 1591
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 |
31,662,429.87 |
56,908,251.63 |
56,331,166.82 |
|
Trade Accounts &
Notes Receivable |
136,052,084.17 |
114,666,012.35 |
104,766,877.01 |
|
Inventories |
9,125,974.94 |
10,604,332.70 |
7,143,690.57 |
|
Other Current Assets
|
3,345,148.02 |
5,414,552.44 |
3,257,953.67 |
|
|
|
|
|
|
Total Current Assets
|
180,185,637.00 |
187,593,149.12 |
171,499,688.07 |
|
|
|
|
|
|
Fixed Assets |
56,472,390.19 |
67,417,988.27 |
77,374,273.97 |
|
Other Non - current Assets |
168,650,167.52 |
82,526,519.15 |
8,890,454.13 |
|
Total Assets |
405,308,194.71 |
337,537,656.54 |
257,764,416.17 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts Payable
|
15,083,847.59 |
17,705,371.61 |
12,063,199.25 |
|
Other Payable |
79,039,268.55 |
53,408,903.75 |
24,509,175.23 |
|
Accrued Expenses |
35,035,375.12 |
27,579,255.25 |
40,533,694.26 |
|
|
|
|
|
|
Total Current Liabilities |
129,158,491.26 |
98,693,530.61 |
77,106,068.74 |
|
Loan Payable Bank |
71,035,997.00 |
46,035,997.00 |
- |
|
Loan |
72,000,000.00 |
72,000,000.00 |
62,730,000.00 |
|
Total Liabilities |
272,194,488.26 |
216,729,527.61 |
139,836,068.74 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning Unappropriated |
83,113,706.45 |
70,808,128.93 |
67,928,347.43 |
|
Total Shareholders' Equity |
133,113,706.45 |
120,808,128.93 |
117,928,347.43 |
|
Total Liabilities & Shareholders' Equity |
405,308,194.71 |
337,537,656.54 |
257,764,416.17 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
285,847,714.82 |
253,193,748.91 |
254,923,127.47 |
|
Compensation Tax [Tax Card] |
329,197.49 |
458,396.26 |
733,163.25 |
|
Gain on Exchange Rate |
5,303,031.13 |
- |
- |
|
Other Income |
1,231,024.21 |
122,690.95 |
612,541.08 |
|
Total Revenues |
292,710,967.65 |
253,774,836.12 |
256,268,831.80 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
197,176,736.22 |
172,247,503.24 |
173,773,549.55 |
|
Selling Expenses |
35,500,993.35 |
31,122,985.55 |
30,354,859.52 |
|
Administrative Expenses |
36,791,774.69 |
41,272,439.59 |
35,117,856.20 |
|
Other Expenses |
3,200,114.60 |
3,646,676.37 |
3,432,060.95 |
|
Total Expenses |
272,669,618.86 |
248,289,604.75 |
242,678,326.22 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
20,041,348.79 |
5,485,231.37 |
13,590,505.58 |
|
Financial Costs |
[1,487,116.98] |
[385,887.97] |
- |
|
Income Tax |
[6,248,654.29] |
[2,219,561.90] |
[4,759,536.12] |
|
Net Profit / [Loss] |
12,305,577.52 |
2,879,781.50 |
8,830,969.46 |
|
Retained Earning,
Beginning of Year |
70,808,128.93 |
67,928,347.43 |
59,097,377.97 |
|
|
|
|
|
|
Retained Earning, End
of Year |
83,113,706.45 |
70,808,128.93 |
67,928,347.43 |
fINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.40 |
1.90 |
2.22 |
|
QUICK RATIO |
TIMES |
1.30 |
1.74 |
2.09 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.06 |
3.76 |
3.29 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.71 |
0.75 |
0.99 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
16.89 |
22.47 |
15.00 |
|
INVENTORY TURNOVER |
TIMES |
21.61 |
16.24 |
24.33 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
173.73 |
165.30 |
150.01 |
|
RECEIVABLES TURNOVER |
TIMES |
2.10 |
2.21 |
2.43 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
27.92 |
37.52 |
25.34 |
|
CASH CONVERSION CYCLE |
DAYS |
162.70 |
150.25 |
139.67 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
68.98 |
68.03 |
68.17 |
|
SELLING & ADMINISTRATION |
% |
25.29 |
28.59 |
25.68 |
|
INTEREST |
% |
0.52 |
0.15 |
- |
|
GROSS PROFIT MARGIN |
% |
33.42 |
32.20 |
32.36 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.01 |
2.17 |
5.33 |
|
NET PROFIT MARGIN |
% |
4.30 |
1.14 |
3.46 |
|
RETURN ON EQUITY |
% |
9.24 |
2.38 |
7.49 |
|
RETURN ON ASSET |
% |
3.04 |
0.85 |
3.43 |
|
EARNING PER SHARE |
BAHT |
24.61 |
5.76 |
17.66 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.67 |
0.64 |
0.54 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.04 |
1.79 |
1.19 |
|
TIME INTEREST EARNED |
TIMES |
13.48 |
14.21 |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
12.90 |
(0.68) |
|
|
OPERATING PROFIT |
% |
265.37 |
(59.64) |
|
|
NET PROFIT |
% |
327.31 |
(67.39) |
|
|
FIXED ASSETS |
% |
(16.24) |
(12.87) |
|
|
TOTAL ASSETS |
% |
20.08 |
30.95 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 12.9%. Turnover has increased from THB
253,193,748.91 in 2010 to THB 285,847,714.82 in 2011. While net profit has
increased from THB 2,879,781.50 in 2010 to THB 12,305,577.52 in 2011. And total
assets has increased from THB 337,537,656.54 in 2010 to THB 405,308,194.71 in
2011.
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
33.42 |
Impressive |
Industrial Average |
21.87 |
|
Net Profit Margin |
4.30 |
Satisfactory |
Industrial Average |
5.71 |
|
Return on Assets |
3.04 |
Deteriorated |
Industrial Average |
7.89 |
|
Return on Equity |
9.24 |
Acceptable |
Industrial Average |
16.28 |
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 33.42%. 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 4.3%. 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 3.04%.
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 9.24%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.40 |
Satisfactory |
Industrial Average |
1.59 |
|
Quick Ratio |
1.30 |
|
|
|
|
Cash Conversion Cycle |
162.70 |
|
|
|
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 1.4 times in 2011, decreased from 1.9 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 1.3 times in 2011,
decreased from 1.74 times, although excluding inventory so the company still
have good short-term financial strength.
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 163 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.67 |
Acceptable |
Industrial Average |
0.46 |
|
Debt to Equity Ratio |
2.04 |
Risky |
Industrial Average |
0.92 |
|
Times Interest Earned |
13.48 |
Impressive |
Industrial Average |
6.11 |
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 13.48 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 0.67 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 Uptrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.06 |
Impressive |
Industrial Average |
2.77 |
|
Total Assets Turnover |
0.71 |
Acceptable |
Industrial Average |
1.37 |
|
Inventory Conversion Period |
16.89 |
|
|
|
|
Inventory Turnover |
21.61 |
Impressive |
Industrial Average |
3.68 |
|
Receivables Conversion Period |
173.73 |
|
|
|
|
Receivables Turnover |
2.10 |
Satisfactory |
Industrial Average |
2.76 |
|
Payables Conversion Period |
27.92 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.10 and 2.21 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
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 decreased from 22 days at the
end of 2010 to 17 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 16.24 times in year 2010 to 21.61
times in year 2011.
The company's Total Asset Turnover is calculated as 0.71 times and 0.75
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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
UK Pound |
1 |
Rs.81.33 |
|
Euro |
1 |
Rs.70.50 |
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.