MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEOCOSMED
CO., LTD. |
|
|
|
|
Registered Office : |
222 Moo 4, Ladlumkaew Road, T. Rahaeng, A. Ladlumkaew, Pathumthani 12140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
11.11.1994 |
|
|
|
|
Com. Reg. No.: |
0105537134887 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, distributor & exporter of cosmetics and health care products |
|
|
|
|
No. of Employees : |
330 |
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 : |
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 – 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 |
|
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
NEOCOSMED CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 222
MOO 4, LADLUMKAEW
ROAD, T. RAHAENG,
A. LADLUMKAEW,
PATHUMTHANI 12140
TELEPHONE : [66] 2976-2314-7
FAX :
[66] 2976-2318
E-MAIL
ADDRESS : marketing@neocosmed.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1994
REGISTRATION
NO. : 0105537134887
TAX
ID NO. : 3011507247
CAPITAL REGISTERED : BHT. 68,300,000
CAPITAL PAID-UP : BHT.
68,300,000
SHAREHOLDER’S PROPORTION : THAI
:
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SAWAD DONSAKUL, THAI
PRESIDENT
NO.
OF STAFF : 330
LINES
OF BUSINESS : COSMETICS AND
HEALTH CARE 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 established
on November 11, 1994
as a private
limited company under
the name style
NEOCOSMED CO., LTD., by
Thai groups, with
the business objective
to provide manufacturing
services various kinds
of cosmetics and
health care products.
It currently employs
approximate 330 staff.
The subject’s registered
address is 222
Moo 4, Ladlumkaew Rd., T.
Rahaeng, A. Ladlumkaew, Pathumthani
12140, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sawad Donsakul |
[x] |
Thai |
71 |
|
Mr. Kraisit Donsakul |
|
Thai |
43 |
|
Ms. Atthaporn Donsakul |
[x] |
Thai |
41 |
|
Mr. Sompong Pibulmanee |
[x] |
Thai |
66 |
|
Mr. Kavee Klangtrakul |
|
Thai |
66 |
|
Ms. Sirirat Suramit |
|
Thai |
58 |
|
Mrs. Somsri Panuwatsuk |
|
Thai |
69 |
|
Mr. Pengnguan Wechjatuporn |
[x] |
Thai |
66 |
AUTHORIZED PERSON
Two of the
mentioned directors [x]
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Sawad Donsakul is
the President.
He is Thai
nationality with the
age of 71
years old.
Mr. Sompong Pibulmanee is
the Managing Director.
He is Thai
nationality with the
age of 66
years old.
Mr. Sophon Boonthanomwong is
the Business Development
Manager.
He is Thai
nationality.
Mr. Boonchai Panijakarn is
the General Manager.
He is Thai
nationality.
Mrs. Suwannee Vongwongsri is
the Supply Chain
Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
services various kinds of
cosmetics and health
care products, according
to customer’s requirement
and brands such
as “AVON”, “GSK”
and others.
PURCHASE
Raw materials and chemicals
are purchased from suppliers both
domestic and overseas,
mainly Japan, U.S.A.,
Republic of China,
Taiwan and France.
SALES/SERVICES
90% of the
products is sold
and serviced locally
to its customers.
EXPORT
10% of the products
is exported to
Indonesia, Philippines, Singapore
and the countries
in Europe.
MAJOR CUSTOMERS
Avon Cosmetic [Thailand]
Co., Ltd.
Glaxo Smith Kline
[Thailand] Co., Ltd.
Osotspa Co., Ltd.
Chaophya Aphaibhubejhr Hospital
Foundation
Stiefel Laboratories [Thailand]
Co., Ltd.
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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately
330 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office, factory
and warehouse with
around 10,000 square
meters of area
at the heading
address. Premise is
located in provincial.
COMMENT
The
subject was established
in 1994 as
a manufacturer and
distributor of cosmetic
and healthcare products. The products
are well known
in local market
such as AVON.
Since its inception, subject
has strongly grown
in line with
demand of cosmetic
and healthcare products, as well as export
markets also earn
good income.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 35,000,000 divided
into 350,000 shares of
Bht. 100 each.
The
capital was increased
later as following:
Bht. 57,000,000
on December 6,
1995
Bht. 60,000,000
on February 6,
1996
Bht. 68,300,000
on May 19,
1998
The
latest registered capital
was increased to Bht. 68,300,000 divided
into 683,000 shares
of Bht. 100
each with fully
paid.
MAIN
SHAREHOLDERS : [as at
December 22, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sawad Donsakul Nationality: Thai Address : 118/67
Rangsit-Pathumthani Rd., Banklang,
Muang, Pathumthani |
88,500 |
12.96 |
|
Ms. Atthaporn Donsakul Nationality: Thai Address : 118/67
Rangsit-Pathumthani Rd., Banklang, Muang, Pathumthani |
46,250 |
6.77 |
|
Mr. Kraisit Donsakul Nationality: Thai Address : 118/67
Rangsit-Pathumthani Rd., Banklang,
Muang, Pathumthani |
46,250 |
6.77 |
|
Ms. Sirirat Suramit Nationality: Thai Address : 59/429
Nimitmai Rd., Klongsamwa,
Bangkok |
31,000 |
4.54 |
|
Mr. Sant Teeravachirakul Nationality: Thai Address : 6/119
Moo 16, Bangkaew,
Bangplee,
Samutprakarn |
30,000 |
4.39 |
|
Mr. Nop Liwsiri Nationality: Thai Address : 1-3
Yaowaraj Rd., Samphantawong, Bangkok |
22,243 |
3.26 |
|
Mr. Sompong Pibulmanee Nationality: Thai Address : 68/4
Moo 1, Bangkhen,
Muang, Nonthaburi |
22,000 |
3.22 |
|
Others |
396757 |
58.09 |
Total Shareholders : 61
Share Structure [as at
December 22, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
61 |
683,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
61 |
683,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Suwanna Kijchainukul No. 4480
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 |
91,640,199.85 |
37,128,428.69 |
57,787,732.72 |
|
Short-term Lending |
- |
- |
15,099,992.44 |
|
Trade Accounts Receivable
|
129,948,325.86 |
196,570,565.10 |
96,613,921.39 |
|
Inventories |
161,763,054.92 |
71,518,463.07 |
55,059,346.94 |
|
Other Current Assets
|
17,588,396.65 |
6,259,434.83 |
2,571,024.39 |
|
|
|
|
|
|
Total Current Assets
|
400,939,977.28 |
311,476,891.69 |
227,132,017.88 |
|
Cash at Bank pledged as
a Collateral |
20,000.00 |
20,000.00 |
- |
|
Investment in Associated |
14,106,000.00 |
14,106,000.00 |
14,106,000.00 |
|
Fixed Assets |
130,971,067.30 |
100,336,755.53 |
90,315,673.77 |
|
Other Non-current Assets |
13,227,810.23 |
6,563,658.40 |
8,159,554.91 |
|
Total Assets |
559,264,854.81 |
432,503,305.62 |
339,713,246.56 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft |
- |
- |
3,868,537.01 |
|
Trade Accounts Payable
|
149,530,166.17 |
124,402,777.52 |
84,450,615.15 |
|
Accrued Income Tax |
17,610,312.65 |
23,446,644.09 |
14,794,260.23 |
|
Accrued Expenses |
27,687,155.02 |
20,035,624.54 |
18,049,561.51 |
|
Short-term Loan from Person
Related |
10,000,000.00 |
- |
- |
|
Other Current Liabilities |
9,373,837.66 |
32,632,212.65 |
22,804,113.58 |
|
|
|
|
|
|
Total Current Liabilities |
214,201,471.50 |
200,517,258.80 |
143,967,087.48 |
|
Long-term Loan from Financial Institution
|
20,578,691.34 |
159,820.47 |
5,939,294.25 |
|
Reserve for Long-term
Employee Benefits |
11,023,155.00 |
- |
- |
|
Total Liabilities |
245,803,317.84 |
200,677,079.27 |
149,906,381.73 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 683,000 shares |
68,300,000.00 |
68,300,000.00 |
68,300,000.00 |
|
|
|
|
|
|
Capital Paid |
68,300,000.00 |
68,300,000.00 |
68,300,000.00 |
|
Premium on Share Capital |
230,000.00 |
230,000.00 |
230,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
6,830,000.00 |
6,830,000.00 |
6,830,000.00 |
|
Unappropriated |
238,101,536.97 |
156,466,226.35 |
114,446,864.83 |
|
Total Shareholders' Equity |
313,461,536.97 |
231,826,226.35 |
189,806,864.83 |
|
Total Liabilities &
Shareholders' Equity |
559,264,854.81 |
432,503,305.62 |
339,713,246.56 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales & Services
Income |
1,046,485,628.38 |
825,496,884.78 |
612,875,848.44 |
|
Other Income |
11,878,734.25 |
6,545,247.43 |
3,866,041.17 |
|
Total Revenues |
1,058,364,362.63 |
832,042,132.21 |
616,741,889.61 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
837,702,963.49 |
657,255,838.35 |
492,855,752.27 |
|
Administrative Expenses |
85,022,672.11 |
61,604,655.71 |
54,943,199.62 |
|
Total Expenses |
922,725,635.60 |
718,860,494.06 |
547,798,951.89 |
|
|
|
|
|
|
Profit before Financial
Cost & Income
Tax |
135,638,727.03 |
113,181,638.15 |
68,942,937.72 |
|
Financial Costs |
[381,314.35] |
[281,308.85] |
[636,133.80] |
|
Profit before Income
Tax |
135,257,412.68 |
112,900,329.30 |
68,306,803.92 |
|
Income Tax |
[36,547,102.05] |
[36,730,967.78] |
[24,449,917.61] |
|
|
|
|
|
|
Net Profit / [Loss] |
98,710,310.63 |
76,169,361.52 |
43,856,886.31 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.87 |
1.55 |
1.58 |
|
QUICK RATIO |
TIMES |
1.03 |
1.17 |
1.18 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.99 |
8.23 |
6.79 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.87 |
1.91 |
1.80 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
70.48 |
39.72 |
40.78 |
|
INVENTORY TURNOVER |
TIMES |
5.18 |
9.19 |
8.95 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
45.32 |
86.92 |
57.54 |
|
RECEIVABLES TURNOVER |
TIMES |
8.05 |
4.20 |
6.34 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
65.15 |
69.09 |
62.54 |
|
CASH CONVERSION CYCLE |
DAYS |
50.65 |
57.55 |
35.77 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
80.05 |
79.62 |
80.42 |
|
SELLING & ADMINISTRATION |
% |
8.12 |
7.46 |
8.96 |
|
INTEREST |
% |
0.04 |
0.03 |
0.10 |
|
GROSS PROFIT MARGIN |
% |
21.09 |
21.17 |
20.21 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.96 |
13.71 |
11.25 |
|
NET PROFIT MARGIN |
% |
9.43 |
9.23 |
7.16 |
|
RETURN ON EQUITY |
% |
31.49 |
32.86 |
23.11 |
|
RETURN ON ASSET |
% |
17.65 |
17.61 |
12.91 |
|
EARNING PER SHARE |
BAHT |
144.52 |
111.52 |
64.21 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.44 |
0.46 |
0.44 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.78 |
0.87 |
0.79 |
|
TIME INTEREST EARNED |
TIMES |
355.71 |
402.34 |
108.38 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
26.77 |
34.69 |
|
|
OPERATING PROFIT |
% |
19.84 |
64.17 |
|
|
NET PROFIT |
% |
29.59 |
73.68 |
|
|
FIXED ASSETS |
% |
30.53 |
11.10 |
|
|
TOTAL ASSETS |
% |
29.31 |
27.31 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 26.77%. Turnover has increased from THB
825,496,884.78 in 2010 to THB 1,046,485,628.38 in 2011. While net profit has
increased from THB 76,169,361.52 in 2010 to THB 98,710,310.63 in 2011. And
total assets has increased from THB 432,503,305.62 in 2010 to THB
559,264,854.81 in 2011.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
21.09 |
Impressive |
Industrial Average |
16.60 |
|
Net Profit Margin |
9.43 |
Impressive |
Industrial Average |
3.47 |
|
Return on Assets |
17.65 |
Impressive |
Industrial Average |
6.72 |
|
Return on Equity |
31.49 |
Impressive |
Industrial Average |
14.95 |
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 21.09%. 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 9.43%, 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
17.65%, 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 31.49%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profits 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 Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.87 |
Impressive |
Industrial Average |
1.54 |
|
Quick Ratio |
1.03 |
|
|
|
|
Cash Conversion Cycle |
50.65 |
|
|
|
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 1.87 times in 2011, increased from 1.55 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 1.03 times in 2011,
decreased from 1.17 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 51 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.44 |
Impressive |
Industrial Average |
0.49 |
|
Debt to Equity Ratio |
0.78 |
Impressive |
Industrial Average |
1.14 |
|
Times Interest Earned |
355.71 |
Impressive |
Industrial Average |
8.52 |
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 355.72 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 0.44 less than 0.5, most of the company's
assets are financed through equity.
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 |
7.99 |
Impressive |
Industrial Average |
4.07 |
|
Total Assets Turnover |
1.87 |
Satisfactory |
Industrial Average |
1.95 |
|
Inventory Conversion Period |
70.48 |
|
|
|
|
Inventory Turnover |
5.18 |
Satisfactory |
Industrial Average |
6.14 |
|
Receivables Conversion Period |
45.32 |
|
|
|
|
Receivables Turnover |
8.05 |
Impressive |
Industrial Average |
4.17 |
|
Payables Conversion Period |
65.15 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.05 and 4.20 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 increased from 40 days at the
end of 2010 to 70 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 9.19 times in year 2010 to 5.18 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.87 times and 1.91
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 Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.38 |
|
UK Pound |
1 |
Rs.82.07 |
|
Euro |
1 |
Rs.70.37 |
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.