MIRA INFORM REPORT
|
Report Date : |
23.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUMITOMO CORPORATION THAILAND LTD. |
|
|
|
|
Registered Office : |
20th , 21st, 22nd Floor, Unit 1, M. Thai Tower All Seasons Place, 87 Wireless Road, Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
27.07.1960 |
|
|
|
|
Com. Reg. No.: |
0105503001019 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
International Trading Company mainly Consumer and Industrail Goods |
|
|
|
|
No. of Employees : |
80 |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
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
SUMITOMO
CORPORATION THAILAND LTD.
SUMMARY
BUSINESS
ADDRESS : 20th , 21st, 22nd FLOOR,
UNIT 1,
M. THAI TOWER
ALL SEASONS PLACE,
87
WIRELESS ROAD, LUMPINI,
PATHUMWAN, BANGKOK 10330
TELEPHONE : [66] 2654-0002-29
FAX :
[66] 2654-0060-2
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1960
REGISTRATION
NO. : 0105503001019
TAX
ID NO. : 3101010800
CAPITAL REGISTERED : BHT. 420,000,000
CAPITAL PAID-UP : BHT.
420,000,000
SHAREHOLDER’S PROPORTION : FOREIGN
: 100%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
TSUNEAKI MAEDA, JAPANESE
PRESIDENT
NO.
OF STAFF : 80
LINES
OF BUSINESS : CONSUMER AND INDUSTRAIL GOODS
INTERNATIONAL
TRADING COMPANY
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 July
27, 1960 as
a private limited
company under the originally registered name “Sumitomo
Shoji Thailand Company Limited” by
Japanese groups. Its objective
is to be engaged
in international trading
business of consumers
and industrial products.
On May 19,
1978, its registered
name was changed
to SUMITOMO CORPORATION
THAILAND LTD. It
currently employs approximately 80
staff.
The
subject is a
wholly owned subsidiary
of Sumitomo Corporation
Asia Pte. Ltd., in
Singapore, which is a member
of Sumitomo Corporation
in Japan.
The
subject’s registered address
is 20th, 21st 22nd Floor,
M. Thai Tower All
Seasons Place, 87
Wireless Rd., Lumpini,
Pathumwan, Bangkok 10330,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Toshiro Kishimura |
|
Japanese |
56 |
|
Mr. Sadaaki Tatsumi |
|
Japanese |
49 |
|
Mr. Tsuneaki Maeda |
|
Japanese |
56 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Tsuneaki Maeda is
the President.
He is Japanese nationality with
the age of 56 years
old.
BUSINESS OPERATIONS
The subject
is engaged in
international trading business
in order to import,
distribute and export
wide range of
consumer goods and industrial
products, including metal [ferrous-non ferrous], transportation, construction,
infrastructure, machinery, chemicals, mineral
resources and energy,
as well as
being a commission agent
and services for
the products.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly in
Japan, Republic of
China, U.S.A., Singapore
and European countries.
MAJOR
SUPPLIERS
Sumitomo
Corporation : Japan
Sumitomo
Corporation Asia Pte.
Ltd. : Singapore
SALES/SERVICES
The products are
sold and serviced to
customers both local and
overseas in Asia,
Europe, Middle East,
Australia and Africa.
SUBSIDIARY AND AFFILIATED
COMPANIES
Sumi-Thai International Ltd.
Business Type :
Trading company
Investment : -
Summit Sunlight Energy
Co., Ltd.
Business Type :
Holding company
Investment : 75%
of company’s shares
held by the
subject.
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.
Sumitomo
Mitsui Banking Corporation
Ltd.
Bank
of Tokyo Mitsubishi
UFJ Ltd.
EMPLOYMENT
The
subject currently employs
approximately 80 staff.
LOCATION DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in a prime commercial
area.
COMMENT
The
subject was formed
in 1960 as
an international trading consumer goods
and industrial materials.
The products are
for industrial users.
Sales were strong
in the past
years, while industrial
sector had grown
viable.
Current
economy improvement and
strong consumption are
the key factors
of growing business.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 750,000
divided into 750 shares
of Bht. 1,000
each with fully
paid.
The
capital was increased
later as follows:
Bht. 1,500,000
on November
21, 1965
Bht. 21,000,000
on October
19, 1976
Bht. 220,000,000
on May
26, 1995
Bht. 420,000,000
on September
9, 2005
The
latest registered capital
was increased to
Bht. 420 million, divided
into 420,000 shares
of Bht. 1,000 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at July 24,
2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Sumitomo Corporation Asia
Pte. Ltd. Nationality: Singaporean Address : 60
Anson Rd., Maple
Tree Anson,
Singapore |
419,994 |
99.99 |
|
Mr. Tsuneaki Maeda Nationality: Japanese Address : 87
Wireless Rd., Lumpini,
Pathumwan,
Bangkok |
3 |
|
|
Mr. Sadaaki Tatsumi Nationality: Japanese Address : 87
Wireless Rd., Lumpini,
Pathumwan, Bangkok |
2 |
= 0.01 |
|
Mr. Toshiro Kishimura Nationality: Japanese Address : 87
Wireless Rd., Lumpini,
Pathumwan,
Bangkok |
1 |
|
Total Shareholders : 4
Share Structure [as
at July 24, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
4 |
420,000 |
100.00 |
|
Total |
4 |
420,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Siripen Sukcharoenyingyong No.
3636
BALANCE SHEET [BAHT]
The latest financial figures published
as at March
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
3,895,315 |
1,664,577 |
1,941,902 |
|
Trade Accounts Receivable
|
2,682,985,724 |
2,911,379,024 |
2,478,279,163 |
|
Inventories |
51,685,039 |
30,950,591 |
630,054,705 |
|
Other Current Assets
|
1,233,580,996 |
867,278,040 |
21,615,423 |
|
|
|
|
|
|
Total Current Assets
|
3,972,147,074 |
3,811,272,232 |
3,131,891,193 |
|
Investment in Subsidiaries |
1,151,455,444 |
- |
- |
|
Investment in Associated |
414,282,213 |
558,791,780 |
558,791,780 |
|
Other Long-term Investment |
129,510,332 |
150,238,328 |
258,019,250 |
|
Equipment |
15,521,709 |
17,459,938 |
18,883,049 |
|
Intangible Assets |
2,050,786 |
1,442,106 |
2,583,666 |
|
Deferred Income Tax Assets |
13,068,464 |
5,399,488 |
- |
|
Other Non - current Assets |
2,688,142 |
3,442,488 |
6,405,535 |
|
Total Assets |
5,700,724,164 |
4,548,046,360 |
3,976,574,473 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
1,089,000,000 |
548,600,000 |
882,500,000 |
|
Short-term Loan from
Related Company |
770,000,000 |
- |
- |
|
Trade Accounts Payable
|
1,674,318,544 |
1,911,227,404 |
1,283,086,095 |
|
Other Payable |
138,281,126 |
237,530,803 |
- |
|
Accrued Income Tax |
51,802,914 |
61,478,618 |
31,425,689 |
|
Other Current Liabilities |
|
|
219,215,193 |
|
|
|
|
|
|
Total Current Liabilities |
3,723,402,584 |
2,758,836,825 |
2,416,226,977 |
|
Total Liabilities |
3,723,402,584 |
2,758,836,825 |
2,416,226,977 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 420,000 shares |
420,000,000 |
420,000,000 |
420,000,000 |
|
|
|
|
|
|
Capital Paid |
420,000,000 |
420,000,000 |
420,000,000 |
|
Premium on Share |
- |
- |
59,672,539 |
|
Retained Earnings: Appropriated for Statutory Reserve |
25,606,774 |
25,606,774 |
25,606,774 |
|
Unappropriated |
1,531,714,806 |
1,343,602,761 |
1,055,068,183 |
|
Total Shareholders' Equity |
1,977,321,580 |
1,789,209,535 |
1,560,347,496 |
|
Total Liabilities &
Shareholders' Equity |
5,700,724,164 |
4,548,046,360 |
3,976,574,473 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
18,908,521,108 |
18,023,354,374 |
13,821,879,958 |
|
Commission Income |
180,305,334 |
175,502,566 |
142,035,198 |
|
Interest Income |
31,902 |
29,878 |
118,469 |
|
Dividend Income |
13,466,739 |
31,184,383 |
4,741,630 |
|
Other Income |
35,315,678 |
37,776,435 |
60,317,526 |
|
Total Revenues |
19,137,640,761 |
18,267,847,636 |
14,029,092,781 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
18,362,675,239 |
17,423,165,947 |
13,372,464,077 |
|
Selling Expenses |
361,482,640 |
349,807,318 |
346,589,599 |
|
Administrative Expenses |
91,029,008 |
79,157,474 |
63,969,380 |
|
Loss on Exchange Rate |
1,245,849 |
10,046,411 |
2,805,952 |
|
Total Expenses |
18,816,432,736 |
17,862,177,150 |
13,785,829,008 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
321,208,025 |
405,670,486 |
243,263,773 |
|
Financial Costs |
[45,307,889] |
[9,761,036] |
[8,072,537] |
|
Profit / [Loss] before Income
Tax |
275,900,136 |
395,909,450 |
235,191,236 |
|
Income Tax |
[87,788,091] |
[111,885,223] |
[67,596,824] |
|
|
|
|
|
|
Net Profit / [Loss] |
188,112,045 |
284,024,227 |
167,594,412 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.07 |
1.38 |
1.30 |
|
QUICK RATIO |
TIMES |
0.72 |
1.06 |
1.03 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1,229.81 |
1,042.32 |
739.49 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.35 |
4.00 |
3.51 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
1.03 |
0.65 |
17.20 |
|
INVENTORY TURNOVER |
TIMES |
355.28 |
562.93 |
21.22 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
51.30 |
58.39 |
64.78 |
|
RECEIVABLES TURNOVER |
TIMES |
7.11 |
6.25 |
5.63 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
33.28 |
40.04 |
35.02 |
|
CASH CONVERSION CYCLE |
DAYS |
19.05 |
19.00 |
46.95 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
96.20 |
95.74 |
95.76 |
|
SELLING & ADMINISTRATION |
% |
2.37 |
2.36 |
2.94 |
|
INTEREST |
% |
0.24 |
0.05 |
0.06 |
|
GROSS PROFIT MARGIN |
% |
4.06 |
4.64 |
4.70 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.68 |
2.23 |
1.74 |
|
NET PROFIT MARGIN |
% |
0.99 |
1.56 |
1.20 |
|
RETURN ON EQUITY |
% |
9.51 |
15.87 |
10.74 |
|
RETURN ON ASSET |
% |
3.30 |
6.24 |
4.21 |
|
EARNING PER SHARE |
BAHT |
447.89 |
676.25 |
399.03 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.65 |
0.61 |
0.61 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.88 |
1.54 |
1.55 |
|
TIME INTEREST EARNED |
TIMES |
7.09 |
41.56 |
30.13 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
4.89 |
30.33 |
|
|
OPERATING PROFIT |
% |
(20.82) |
66.76 |
|
|
NET PROFIT |
% |
(33.77) |
69.47 |
|
|
FIXED ASSETS |
% |
(11.10) |
(7.54) |
|
|
TOTAL ASSETS |
% |
25.34 |
14.37 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 4.89%. Turnover has increased from THB
18,198,856,940.00 in 2011 to THB 19,088,826,442.00 in 2012. While net profit
has decreased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.06 |
Acceptable |
Industrial
Average |
5.92 |
|
Net Profit Margin |
0.99 |
Impressive |
Industrial
Average |
0.42 |
|
Return on Assets |
3.30 |
Impressive |
Industrial
Average |
0.82 |
|
Return on Equity |
9.51 |
Impressive |
Industrial
Average |
1.88 |
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 4.06%. 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 0.99%, 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
3.3%, 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 9.51%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.07 |
Satisfactory |
Industrial
Average |
1.23 |
|
Quick Ratio |
0.72 |
|
|
|
|
Cash Conversion Cycle |
19.05 |
|
|
|
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 1.07 times in 2012, decreased from 1.38 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 0.72 times in 2012,
decreased from 1.06 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 20 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.65 |
Acceptable |
Industrial
Average |
0.64 |
|
Debt to Equity Ratio |
1.88 |
Acceptable |
Industrial
Average |
1.96 |
|
Times Interest Earned |
7.09 |
Impressive |
Industrial Average |
1.39 |
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 7.09 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 0.65 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 |
1,229.81 |
Impressive |
Industrial
Average |
7.95 |
|
Total Assets Turnover |
3.35 |
Impressive |
Industrial
Average |
2.15 |
|
Inventory Conversion Period |
1.03 |
|
|
|
|
Inventory Turnover |
355.28 |
Impressive |
Industrial
Average |
4.58 |
|
Receivables Conversion Period |
51.30 |
|
|
|
|
Receivables Turnover |
7.11 |
Impressive |
Industrial
Average |
5.68 |
|
Payables Conversion Period |
33.28 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.11 and
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 day
is 1 day at the end of 2011, same
figure as in 2012. This represents a good trend. And Inventory turnover has
decreased from 562.93 times in year 2011 to 355.28 times in year 2012.
The company's Total Asset Turnover is calculated as 3.35 times and 4
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.54.33 |
|
|
1 |
Rs.82.56 |
|
Euro |
1 |
Rs.70.10 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.