MIRA INFORM REPORT
|
Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
THAI PROGRESS GARMENT CO., LTD. |
|
|
|
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Registered Office : |
587 Moo 2, Bangpa-In Industrial Estate, Export Processing Zone, T. Klongjik, A. Bangpa-In, Ayudhaya 13160 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
04.05.1998 |
|
|
|
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Com. Reg. No.: |
0145541000300 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter Lingerie |
|
|
|
|
No. of Employees : |
300 |
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 : |
Unknown |
|
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
THAI
PROGRESS GARMENT CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 587
MOO 2, BANGPA-IN INDUSTRIAL
ESTATE,
EXPORT PROCESSING
ZONE, T. KLONGJIK,
A. BANGPA-IN, AYUDHAYA
13160
THAILAND
TELEPHONE : [66] 35
221-815-7
FAX :
[66] 35
221-819
E-MAIL
ADDRESS : tpgm@ksc.th.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1998
REGISTRATION
NO. : 0145541000300
TAX
ID NO. : 3121010927
CAPITAL REGISTERED : BHT.
30,000,000
CAPITAL PAID-UP : BHT.
30,000,000
SHAREHOLDER’S PROPORTION : THAI :
1%
FOREIGN : 99%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. YOSEP HAJAJ,
ISRAELI
MANAGING DIRECTOR
NO.
OF STAFF : 300
LINES
OF BUSINESS : LINGERIE
MANUFACTURER AND
EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
LOW PERFORMANCE
HISTORY
The
subject was established
on May 4, 1998
as a private
limited company under the name style
THAI PROGRESS GARMENT
CO., LTD. by
Thai and foreign
groups, in order
to manufacture lady
underwear for international
markets. It currently employs
approximate 300 staff.
The subject’s registered address is 587 Moo 2, Bangpa-in
Industrial Estate, Export
Processing Zone, T. Klongjik, A.
Bangpa-in, Ayudhaya 13160, and this is
the subject’s current operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sompop Tanthadsawat |
|
Thai |
36 |
|
Mr. Yosep Hajaj |
|
Israeli |
45 |
|
Mr. Michael Berl
Silo Lexor |
|
Israeli |
- |
|
Mr. Isac Dabaz |
|
Israeli |
56 |
|
Mr. Halm Navon |
|
Israeli |
55 |
|
Ms. Ma Thien
Lam |
[x] |
Burmese |
39 |
AUTHORIZED PERSON
Any of the
above directors except
the director [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Yosep Hajaj
is the Managing
Director.
He is Israeli
nationality with the
age of 45 years old.
Mr. Halm Navon
is the General
Manager.
He is Israeli
nationality with the
age of 55
years old.
Ms. Roong-aroon Chinhong is
the Human Resource
Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged
in manufacturing wide
range of ladies
underwear: bras, briefs,
sports bra, panty,
swimwear and etc.
The subject also provides manufacturing
service for the international
brands, under customers’
requirement.
MAJOR BRANDS
“BRASSIERES”, “PANTIES”, “CAMISOLES”
and customers’ own brands
IMPORT
Most
of raw materials,
mainly fabric and
accessories are imported
from United States
of America, India.
Indonesia, Republic of
China, Japan and
Israel, and the
rest is purchased
from local suppliers.
MAJOR
SUPPLIERS
Delta
Galil Industries Ltd.
: Israel
Delta
Galil U.S.A. Inc.
: United States
of America
EXPORT
100% of the
products is exported
to Japan, United
States of America
and European countries.
PARENT COMPANY
Delta Galil Holland
B.V.
Address : Switzerland
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
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.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
300 staff.
LOCATION DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is located in
industrial area.
COMMENT
The
subject is a manufacturer,
distributor and exporter
of lady underwear. In 2011
sales were slowing down
due to sluggish economy
in U.S.A and
European markets, as
well as the
factory in Bangpa-in
Industrial Estate had
been inundated by
massive floods during
the last quarter of
the year.
Nevertheless, subject
has improved its
production facility in the
first month of 2012 and started
its production in the first quarter of
the same year. Sales
have gradually improved
since 2012.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 10,000,000
divided into 100,000
shares of Bht.
100 each.
On
November 28, 2003,
the registered capital
was increased to
Bht. 30,000,000 divided into
300,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Delta Galil Holland
B.V. Nationality: Dutch Address : Switzerland |
296,995 |
99.00 |
|
M.B.A. Co., Ltd. Nationality: Thai Address : 4th Floor,
Nailert Tower, 2/4
Wireless Rd.,
Lumpini, Pathumwan, Bangkok |
3,000 |
1.00 |
|
Mr. Halm Navon Nationality: Israeli Address : 587
Moo 2, T. Klongjik,
A. Bangpa-in, Ayudhaya |
2 |
- |
|
Mr. Isac Dabaz Nationality: Israeli Address : 587
Moo 2, T. Klongjik,
A. Bangpa-in, Ayudhaya |
1 |
- |
|
Mr. Yosep Hajaj Nationality: Israeli Address : Israel |
1 |
- |
|
Mr. Michael Berl
Silo Lexor Nationality: Israeli Address : Israel |
1 |
- |
Total Shareholders : 6
Share Structure
[as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
3,000 |
1.00 |
|
Foreign |
5 |
297,000 |
99.00 |
|
Total |
6 |
300,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sitthisak Thienthong
No. 6796
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash in Hand
& at Bank
|
5,449,527.00 |
25,365,619.00 |
12,094,158.00 |
|
Trade Accounts Receivable - Parent & Related Company |
287,251,554.00 |
232,836,944.00 |
215,739,121.00 |
|
- Other Company |
- |
1,716,004.00 |
1,701,001.00 |
|
Insurance Receivable |
20,920,310.00 |
- |
- |
|
Parent Company Receivable & Related Company |
227,599.00 |
13,596,044.00 |
46,881,373.00 |
|
Inventories |
85,355,548.00 |
49,683,636.00 |
64,492,154.00 |
|
Other Current Assets
|
16,390,745.00 |
5,467,778.00 |
3,366,851.00 |
|
Total Current
Assets |
415,595,283.00 |
328,666,025.00 |
344,274,658.00 |
|
|
|
|
|
|
Computer Programme |
350,418.00 |
397,272.00 |
437,690.00 |
|
Fixed Assets |
72,964,998.00 |
89,371,546.00 |
103,709,861.00 |
|
Total Assets
|
488,910,699.00 |
418,434,843.00 |
448,422,209.00 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft |
9,161,895.00 |
- |
- |
|
Trade Accounts Payable - Parent & Related Company |
234,159,656.00 |
190,199,334.00 |
156,387,507.00 |
|
- Other Company |
62,857,613.00 |
59,819,044.00 |
72,762,844.00 |
|
Current Portion of Hire-purchase Contract Liabilities |
362,591.00 |
341,758.00 |
400,968.00 |
|
Other Payable |
7,533,984.00 |
4,261,910.00 |
4,770,786.00 |
|
Accrued Income Tax |
- |
1,846,747.00 |
3,723,170.00 |
|
Accrued Expenses |
1,118,695.00 |
425,999.00 |
480,229.00 |
|
Other Current Liabilities |
3,922,379.00 |
1,387,605.00 |
1,954,481.00 |
|
Total Current
Liabilities |
319,116,813.00 |
258,282,397.00 |
240,479,985.00 |
|
|
|
|
|
|
Long-term Loan from Parent Company |
166,928,347.00 |
127,437,045.00 |
182,986,310.00 |
|
Hire-purchase Contract Liabilities,
Net of
Current Portion |
245,686.00 |
875,578.00 |
1,251,437.00 |
|
Total Liabilities |
486,290,846.00 |
386,595,020.00 |
424,717,732.00 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 value
Authorized &
issued share capital 300,000
shares |
30,000,000.00 |
30,000,000.00 |
30,000,000.00 |
|
Capital Paid |
30,000,000.00 |
30,000,000.00 |
30,000,000.00 |
|
Retained Earning -
Unappropriated |
[27,380,147.00] |
1,839,823.00 |
[6,295,523.00] |
|
Total
Shareholders' Equity |
2,619,853.00 |
31,839,823.00 |
23,704,477.00 |
|
Total Liabilities
& Shareholders' Equity |
488,910,699.00 |
418,434,843.00 |
448,422,209.00 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
485,564,144.00 |
567,846,670.00 |
624,615,411.00 |
|
Loss from Goods Obsolescence [Reversal] |
2,348,114.00 |
2,521,986.00 |
[1,691,335.00] |
|
Other Income |
- |
15,303,836.00 |
20,930,915.00 |
|
|
|
|
|
|
Total Revenue |
487,912,258.00 |
585,672,492.00 |
643,854,991.00 |
|
|
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
445,927,059.00 |
517,327,058.00 |
565,141,077.00 |
|
Selling and Administrative Expenses |
46,101,137.00 |
48,096,448.00 |
64,405,070.00 |
|
Other Expenses |
18,035,979.00 |
565,423,506 |
- |
|
Total Expenses |
510,064,175.00 |
565,423,506.00 |
629,546,147.00 |
|
Profit / [Loss] before Financial Cost & Income Tax |
[22,151,917.00] |
20,248,986.00 |
14,308,844.00 |
|
Financial Cost |
[5,868,053.00] |
[4,970,904.00] |
[2,179,318.00] |
|
Profit/[Loss] before Income Tax |
[28,019,970.00] |
11,606,982.00 |
12,129,526.00 |
|
Income Tax |
[1,200,000.00] |
[3,471,636.00] |
[4,398,170.00] |
|
Net Profit / [Loss] |
[29,219,970.00] |
8,135,346.00 |
7,731,356.00 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.30 |
1.27 |
1.43 |
|
QUICK RATIO |
TIMES |
0.98 |
1.06 |
1.15 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.65 |
6.35 |
6.02 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.99 |
1.36 |
1.39 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
69.87 |
35.05 |
41.65 |
|
INVENTORY TURNOVER |
TIMES |
5.22 |
10.41 |
8.76 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
1.10 |
0.99 |
|
RECEIVABLES TURNOVER |
TIMES |
- |
330.91 |
367.20 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
51.45 |
42.21 |
46.99 |
|
CASH CONVERSION CYCLE |
DAYS |
18.41 |
(6.05) |
(4.35) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.84 |
91.10 |
90.48 |
|
SELLING & ADMINISTRATION |
% |
9.49 |
8.47 |
10.31 |
|
INTEREST |
% |
1.21 |
0.88 |
0.35 |
|
GROSS PROFIT MARGIN |
% |
8.65 |
12.04 |
12.60 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(4.56) |
3.57 |
2.29 |
|
NET PROFIT MARGIN |
% |
(6.02) |
1.43 |
1.24 |
|
RETURN ON EQUITY |
% |
(1,115.33) |
25.55 |
32.62 |
|
RETURN ON ASSET |
% |
(5.98) |
1.94 |
1.72 |
|
EARNING PER SHARE |
BAHT |
(97.40) |
27.12 |
25.77 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.99 |
0.92 |
0.95 |
|
DEBT TO EQUITY RATIO |
TIMES |
185.62 |
12.14 |
17.92 |
|
TIME INTEREST EARNED |
TIMES |
(3.78) |
4.07 |
6.57 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(14.49) |
(9.09) |
|
|
OPERATING PROFIT |
% |
(209.40) |
41.51 |
|
|
NET PROFIT |
% |
(459.17) |
5.23 |
|
|
FIXED ASSETS |
% |
(18.36) |
(13.83) |
|
|
TOTAL ASSETS |
% |
16.84 |
(6.69) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -14.49%. Turnover has decreased from THB
567,846,670.00 in 2010 to THB 485,564,144.00 in 2011. While net profit has decreased
from THB 8,135,346.00 in 2010 to THB -29,219,970.00 in 2011. And total assets
has increased from THB 418,434,843.00 in 2010 to THB 488,910,699.00 in 2011.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.65 |
Acceptable |
Industrial
Average |
14.07 |
|
Net Profit Margin |
(6.02) |
Deteriorated |
Industrial
Average |
1.04 |
|
Return on Assets |
(5.98) |
Deteriorated |
Industrial
Average |
1.53 |
|
Return on Equity |
(1,115.33) |
Deteriorated |
Industrial
Average |
5.14 |
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 8.65%. 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 -6.02%.
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 -5.98%.
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 -1115.33%.
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 |
1.30 |
Satisfactory |
Industrial
Average |
1.41 |
|
Quick Ratio |
0.98 |
|
|
|
|
Cash Conversion Cycle |
18.41 |
|
|
|
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 1.3 times in 2011, increased from 1.27 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 0.98 times in 2011,
decreased from 1.06 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 19 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.99 |
Acceptable |
Industrial
Average |
0.66 |
|
Debt to Equity Ratio |
185.62 |
Risky |
Industrial
Average |
2.13 |
|
Times Interest Earned |
(3.78) |
Risky |
Industrial
Average |
1.25 |
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 -3.78 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 0.99 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 |
6.65 |
Impressive |
Industrial
Average |
4.29 |
|
Total Assets Turnover |
0.99 |
Acceptable |
Industrial
Average |
1.47 |
|
Inventory Conversion Period |
69.87 |
|
|
|
|
Inventory Turnover |
5.22 |
Impressive |
Industrial
Average |
3.20 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial
Average |
2.94 |
|
Payables Conversion Period |
51.45 |
|
|
|
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 35 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 10.41 times in year 2010 to 5.22 times in year
2011.
The company's Total Asset Turnover is calculated as 0.99 times and 1.36
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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
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.