MIRA INFORM REPORT
|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAXWORTH CO.,
LTD. |
|
|
|
|
Registered Office : |
2, 4
Soi Phrayamonthad Yaek
35-16, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
03.12.1990 |
|
|
|
|
Com. Reg. No.: |
0105533141251 |
|
|
|
|
Legal Form : |
Private Limited Company
|
|
|
|
|
Line of Business : |
Importer and distributor
of industrial chemicals
and fragrance, mainly
for cosmetics, consumer
goods and personal
cares industries. |
|
|
|
|
No. of Employees : |
11 |
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 : |
No Complaints |
|
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
MAXWORTH CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 2, 4
SOI PHRAYAMONTHAD YAEK
35-16,
KARNJANAPISEK ROAD,
BANGBON,
BANGKOK 10150
TELEPHONE : [66] 2895-0161-3
FAX
: [66] 2895-0160
E-MAIL
ADDRESS : marketing@maxworth.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1990
REGISTRATION
NO. : 0105533141251
[Former : 14124/2533]
TAX
ID NO. : 3101914948
CAPITAL REGISTERED : BHT. 4,000,000
CAPITAL PAID-UP : BHT.
4,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SANGVORN SRISURICHAN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 11
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
& FRAGRANCES
IMPORTER &
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on December
3, 1990 as
a private limited
company under the
name style MAXWORTH
CO., LTD., by
Thai Group, Srisurichan
family, with the
business objective to
import and distribute
industrial chemicals and
fragrances to domestic
market. It currently
employs 11 staff.
The subject’s registered
address was initially
located at 45/346-347 Moo 5,
Karnjanapisek Rd., Bangbon,
Bangkok 10150.
In 2011, its
registered address was
changed to 2, 4
Soi Phrayamonthad Yaek
35-16, Karnjanapisek Rd.,
Bangbon, Bangkok 10150
by the District Government, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sangvorn Srisurichan |
|
Thai |
60 |
|
Mrs. Amporn Srisurichan |
|
Thai |
58 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sangvorn Srisurichan
is the Managing
Director.
He is Thai
nationality with the
age of 60
years old.
Mrs. Amporn Srisurichan is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 58
years old.
BUSINESS OPERATIONS
The subject’s activities
are importer and
distributor of industrial
chemicals and fragrance,
mainly for cosmetics,
consumer goods and
personal cares industries.
IMPORT [COUNTRIES]
50% of the
products is imported
from Germany, Spain,
France, U.S.A., and
Malaysia.
MAJOR SUPPLIERS
Inter Med Sdn. Bhd. : Malaysia
Drom Fragrance International
S.A. : France
Lipotec S.A. : Spain
Provital S.A. : Spain
Lubrizol Corporation : U.S.A.
SALES [LOCAL]
100% of its
products is sold
locally to manufacturers
and wholesalers.
MAJOR CUSTOMERS
Unilever Thai Trading
Co., Ltd.
Giffarine Skyline Laboratory & Healthcare Co.,
Ltd.
Bio Manufacturing Co.,
Ltd.
Betterway [Thailand] Co.,
Ltd.
I.C.C. International Public
Company Limited
Saha Pathanapibul Public
Company Limited
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
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd. [Bangbon Branch]
EMPLOYMENT
The subject employs
11 staff [office & sales
staff].
LOCATION DETAILS
The premise is
rented for operating
office at the heading
address. Premise is
located in
commercial/residential area.
NOTE
Refer to your
special questions, please
be informed as
follows;
1.
The
company is an importer
and distributor of
industrial chemicals. It products
are sold directly
to manufacturers and
traders. However, the
products has never
been supplied to
government enterprise.
2.
Main
suppliers are from
the countries in Europe,
Asia and U.S.A.
The subject
has
never imported products
from Cuba, Iran,
North Korea, Sudan
and Syria.
3. The
company does not
have any sales or
representative office in
overseas.
COMMENT
The subject is
an importer and
distributor of industrial
chemicals and fragrances.
The products are
mainly served to consumer
goods industries. Subject
reported moderate sales in
the past several year. Its
current business is
promising and growing
steadily.
FINANCIAL INFORMATION
The capital was
registered at Bht.
1,000,000 divided into
10,000 shares of
Bht. 100 each.
On November 17,
2000, the capital
was increased to
Bht. 4,000,000 divided
into 40,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sangvorn Srisurichan Nationality: Thai Address : 45/344
Moo 5, Kanjanapisek Rd.,
Bangbon, Bangkok |
21,000 |
52.50 |
|
Mrs. Amporn Srisurichan Nationality: Thai Address : 45/344
Moo 5, Kanjanapisek Rd.,
Bangbon, Bangkok |
18,750 |
46.88 |
|
Mrs. Sawai Srisurichan Nationality: Thai Address : 194/5
Petchkasem 16 Rd.,
Thaphra, Bangkokyai, Bangkok |
50 |
|
|
Mr. Surapich Srisurichan Nationality: Thai Address : 45/344
Moo 5, Kanjanapisek Rd.,
Bangbon, Bangkok |
50 |
|
|
Ms. Suvimol Chringsupathada Nationality: Thai Address : 759
Ratchadapisek Rd., Samsennok,
Huaykwang, Bangkok |
50 |
= 0.62 |
|
Mr. Amornwong Srisurichan Nationality: Thai Address : 45/344
Moo 5, Kanjanapisek Rd.,
Bangbon, Bangkok |
50 |
|
|
Mr. Supongpan Srisurichan Nationality: Thai Address : 45/344
Moo 5, Kanjanapisek Rd.,
Bangbon, Bangkok |
50 |
|
Total Shareholders : 7
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
40,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
40,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Supakit Icharoj No.
3764
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 |
117,434.55 |
3,398,143.65 |
11,224,723.75 |
|
Short-term Investment |
2,051,240.23 |
- |
- |
|
Trade Accounts Receivable |
16,939,703.49 |
15,483,974.06 |
11,619,102.00 |
|
Inventories |
9,766,504.84 |
7,601,577.92 |
4,497,307.89 |
|
Short-term Lending to Person or
Related Company |
300,000.00 |
- |
- |
|
Other Current Assets |
155,155.06 |
677,555.08 |
487,501.14 |
|
|
|
|
|
|
Total Current Assets
|
29,330,038.17 |
27,161,250.71 |
27,828,634.78 |
|
Fixed Assets |
6,357,974.29 |
4,375,452.76 |
4,173,990.54 |
|
Total Assets |
35,688,012.46 |
31,536,703.47 |
32,002,625.32 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan |
1,697,718.08 |
- |
- |
|
Trade Accounts & Other
Payable |
13,373,820.70 |
11,843,134.76 |
8,158,005.47 |
|
Other Current Liabilities |
575,886.28 |
2,718,578.40 |
3,616,819.86 |
|
|
|
|
|
|
Total Current Liabilities |
15,647,425.02 |
14,561,713.16 |
11,774,825.33 |
|
|
|
|
|
|
Total Liabilities |
15,647,425.02 |
14,561,713.16 |
11,774,825.33 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share Capital :
Baht. 100 par
value authorized issued
and fully paid share capital 40,000
shares |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning Appropriated Statutory Reserve |
300,000.00 |
300,000.00 |
|
|
Unappropriated |
15,740,587.44 |
12,674,990.31 |
16,227,799.99 |
|
Total Shareholders' Equity |
20,040,587.44 |
16,974,990.31 |
20,227,799.99 |
|
Total Liabilities & Shareholders' Equity
|
35,688,012.46 |
31,536,703.47 |
32,002,625.32 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
60,371,590.50 |
52,553,667.40 |
51,824,157.50 |
|
Other Income |
520,496.75 |
967,968.60 |
810,233.75 |
|
Total Revenues |
60,892,087.25 |
53,521,636.00 |
52,634,391.25 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
37,069,017.91 |
33,839,033.62 |
33,303,404.93 |
|
Selling Expenses |
8,042,814.07 |
6,449,502.24 |
6,116,959.64 |
|
Administrative Expenses |
10,731,058.03 |
9,441,761.61 |
9,191,156.44 |
|
Other Expenses |
962,760.58 |
191,191.28 |
497,428.68 |
|
Total Expenses |
56,805,650.59 |
49,921,488.75 |
49,108,949.69 |
|
Profit / [Loss] before Financial
Cost & Income Tax
|
4,086,436.66 |
3,600,147.25 |
3,525,441.56 |
|
Financial Cost |
[29,030.12] |
[23,576.75] |
[18,246.00] |
|
Profit / [Loss] before Income
Tax |
4,057,406.54 |
3,576,570.50 |
3,507,195.56 |
|
Income Tax |
[991,809.41] |
[829,380.18] |
[794,463.09] |
|
Net Profit / [Loss] |
3,065,597.13 |
2,747,190.32 |
2,712,732.47 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.87 |
1.87 |
2.36 |
|
QUICK RATIO |
TIMES |
1.22 |
1.30 |
1.94 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
9.50 |
12.01 |
12.42 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.69 |
1.67 |
1.62 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
96.17 |
81.99 |
49.29 |
|
INVENTORY TURNOVER |
TIMES |
3.80 |
4.45 |
7.41 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
102.42 |
107.54 |
81.83 |
|
RECEIVABLES TURNOVER |
TIMES |
3.56 |
3.39 |
4.46 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
131.69 |
127.74 |
89.41 |
|
CASH CONVERSION CYCLE |
DAYS |
66.90 |
61.79 |
41.71 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
61.40 |
64.39 |
64.26 |
|
SELLING & ADMINISTRATION |
% |
31.10 |
30.24 |
29.54 |
|
INTEREST |
% |
0.05 |
0.04 |
0.04 |
|
GROSS PROFIT MARGIN |
% |
39.46 |
37.45 |
37.30 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.77 |
6.85 |
6.80 |
|
NET PROFIT MARGIN |
% |
5.08 |
5.23 |
5.23 |
|
RETURN ON EQUITY |
% |
15.30 |
16.18 |
13.41 |
|
RETURN ON ASSET |
% |
8.59 |
8.71 |
8.48 |
|
EARNING PER SHARE |
BAHT |
76.64 |
68.68 |
67.82 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.44 |
0.46 |
0.37 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.78 |
0.86 |
0.58 |
|
TIME INTEREST EARNED |
TIMES |
140.77 |
152.70 |
193.22 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
14.88 |
1.41 |
|
|
OPERATING PROFIT |
% |
13.51 |
2.12 |
|
|
NET PROFIT |
% |
11.59 |
1.27 |
|
|
FIXED ASSETS |
% |
45.31 |
4.83 |
|
|
TOTAL ASSETS |
% |
13.16 |
(1.46) |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 14.88%. Turnover has increased from THB
52,553,667.40 in 2010 to THB 60,371,590.50 in 2011. While net profit has increased
from THB 2,747,190.32 in 2010 to THB 3,065,597.13 in 2011. And total assets has
increased from THB 31,536,703.47 in 2010 to THB 35,688,012.46 in 2011.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
39.46 |
Impressive |
Industrial
Average |
31.27 |
|
Net Profit Margin |
5.08 |
Impressive |
Industrial
Average |
2.40 |
|
Return on Assets |
8.59 |
Impressive |
Industrial
Average |
4.28 |
|
Return on Equity |
15.30 |
Impressive |
Industrial
Average |
8.66 |
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 39.46%. 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 5.08%
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
8.59%, 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 15.3%, 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.
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 |
1.87 |
Impressive |
Industrial
Average |
1.29 |
|
Quick Ratio |
1.22 |
|
|
|
|
Cash Conversion Cycle |
66.90 |
|
|
|
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, same figure
as 1.87 times in 2010, 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 1.22 times in 2011,
decreased from 1.3 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 67 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.44 |
Impressive |
Industrial
Average |
0.51 |
|
Debt to Equity Ratio |
0.78 |
Impressive |
Industrial
Average |
1.05 |
|
Times Interest Earned |
140.77 |
Impressive |
Industrial Average |
- |
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 140.77 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 Downtrend
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
9.50 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.69 |
Satisfactory |
Industrial
Average |
1.78 |
|
Inventory Conversion Period |
96.17 |
|
|
|
|
Inventory Turnover |
3.80 |
Deteriorated |
Industrial
Average |
9.47 |
|
Receivables Conversion Period |
102.42 |
|
|
|
|
Receivables Turnover |
3.56 |
Impressive |
Industrial
Average |
3.52 |
|
Payables Conversion Period |
131.69 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.56 and 3.39 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 82 days at the
end of 2010 to 96 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 4.45 times in year 2010 to 3.8 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.69 times and 1.67
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 owntrend
Total Assets Turnover Downtrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.84.31 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.