MIRA INFORM REPORT
|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
SATAKE INTERNATIONAL BANGKOK COMPANY LIMITED |
|
|
|
|
Registered Office : |
8th Floor, Mahathun Plaza
Building, 888/84 Ploenchit Road, Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
02.12.2005 |
|
|
|
|
Com. Reg. No.: |
0135548011234 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Exporter and Distributor of Energy Generating Systems. |
|
|
|
|
No. of Employees : |
35 |
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
SATAKE
INTERNATIONAL BANGKOK COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 8th FLOOR,
MAHATHUN PLAZA BUILDING,
888/84 PLOENCHIT
ROAD, LUMPINI,
PATHUMWAN, BANGKOK
10330
TELEPHONE : [66] 2651-5845-7,
2651-5860-2
FAX :
[66] 2651-5848
E-MAIL
ADDRESS : ning_aimorn@satake-bangkok.com
aun_narumol@satake-bangkok.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2005
REGISTRATION
NO. : 0135548011234
TAX
ID NO. : 3032227667
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT. 29,500,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SHOICHI TANAKA,
JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 35
LINES
OF BUSINESS : ENERGY GENERATING SYSTEMS
IMPORTER, EXPORTER
AND 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 2,
2005 as a private
limited company under
the name style SATAKE INTERNATIONAL BANGKOK COMPANY LIMITED by Japanese
groups, in order
provide product, equipment
and services for
natural power and
related business to
domestic and oversea
markets. It currently
employs 35 staff.
Subject
is a wholly
owned subsidiary of
Satake Corporation, Japan.
The subject’s registered address was 15th
Floor, Mahathun Plaza, 888/152 Ploenchit
Rd., Lumpini, Pathumwan, Bangkok
10330.
On March 2,
2009, it was relocated to 8th Floor, Mahathun Plaza,
888/84 Ploenchit Rd., Lumpini, Pathumwan, Bangkok 10330, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Toshiko Satake |
|
Japanese |
54 |
|
Mr. Takeshi Fukumori |
|
Japanese |
53 |
|
Mr. Kazuyuki Kihara |
|
Japanese |
55 |
|
Mr. Shoichi Tanaka |
[x] |
Japanese |
54 |
|
Mr. Yukio Nishikawa |
[x] |
Japanese |
63 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Shoichi Tanaka is
the Managing Director.
He is Japanese
nationality with the age of
54 years old.
BUSINESS OPERATIONS
The subject’s core
business is engaged
in importing and
distributing of power
system equipment such
as Bio-mass Power Generation
and equipment for
energy production, composting
plants and biomass
power generation plants, as
well as after
sale services. Subject
also exports rice
processing machine, such
as rice polishing,
rice milling machine,
paddy separator, milling
separator and spare
parts.
MAJOR BRAND
“SATAKE”
PURCHASE
The products
are purchased from
suppliers both domestic
and overseas, mainly
in Japan.
MAJOR
SUPPLIERS
Satake [Thailand] Co.,
Ltd. :
Thailand
Satake Corporation :
Japan
SALES [LOCAL]
The products are
sold and serviced
locally to manufacturers, end-users
and government enterprises.
EXPORT
Rice processing machine is exported
to India, Pakistan, Bangladesh,
Vietnam, Myanmar, Laos,
Indonesia, Cambodia and
Sri Lanka.
RELATED AND AFFILIATED COMPANY
Satake [Thailand] Co.,
Ltd.
Business Type :
Manufacturer and distributor
of rice processing
machine.
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
Sumitomo Mitsui Banking
Corporation
Bank of Tokyo-Mitsubishi UFJ
Ltd.
EMPLOYMENT
The
subject employs 35
staff.
LOCATION DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in a prime
commercial area.
NOTE
Refer to
your given name
“International Bangkok Ltd.”,
please be informed
that the correct
name is “Satake
International Bangkok Company
Limited”.
COMMENT
The subject
was formed in 2005
in order to
distribute products and
equipments for producing
energy from biomass
resources.
Biomass resource is the mass of living organisms. This
may be forest, production of agricultural products and residues remaining in
agriculture such as straw, rice husk,
bagasse, palm shell, coconut shell or organic wastes
from agro-industrial plants and etc., as
well as chicken, pork, cow dung and etc.
Besides
Bio-mass Power Generation,
subject also exports rice
milling related equipments to major rice grower
countries in Asia.
Its current business in
general remains moderate.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 6,000,000
divided into 60,000
shares of Bht. 100
each.
On
March 20, 2008, the
capital was increased
to Bht. 52,000,000 divided
into 520,000 shares of
Bht. 100 each.
On
March 2, 2009, the
capital was increased to
Bht. 100,000,000 divided into
1,000,000 shares of
Bht. 100 each
with current capital paid-up
at Bht. 29,500,000.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 6, 2012]
at Bht. 29,500,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Satake Corporation Nationality: Japanese Address : 7-2
Zotokanta 4, Chome-Shiyoda-ku, Tokyo, Japan |
999,986 |
100.00 |
|
Mrs. Toshiko Satake Nationality: Japanese Address : 3-31-14
Sannou, Ota-ku, Tokyo,
Japan |
10 |
- |
|
Mr. Takeshi Fukumori Nationality: Japanese Address :
4-28-9 Nakano, Arki-ku,
Hiroshima, Japan |
1 |
- |
|
Mr. Kazuyuki Kihara Nationality: Japanese Address : 4-14-801
Sumiyoshi-cho, Naka-ku,
Hiroshima, Japan |
1 |
- |
|
Mr. Yukio Nishikawa Nationality: Japanese Address : 888/84
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok |
1 |
- |
|
Mr. Shoichi Tanaka Nationality: Japanese Address : 888/84
Ploenchit Rd., Lumpini, Pathumwan, Bangkok |
1 |
- |
Total Shareholders : 6
Share Structure [as
at April 6,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
6 |
1,000,000 |
100.00 |
|
Total |
6 |
1,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Kanda Kanchanavasutha No.
7812
BALANCE SHEET [BAHT]
The 2012 financial statement was
not available during
investigation.
The
latest financial figures
published for December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalent |
183,960,058 |
220,266,033 |
170,298,216 |
|
Trade Accounts Receivable |
103,566,538 |
241,687,696 |
445,370,445 |
|
Receivable -Related Company |
17,420 |
503,501 |
1,886,009 |
|
Inventories |
15,718,594 |
76,279,659 |
30,425,807 |
|
Other Current Assets
|
10,718,197 |
6,026,351 |
52,656,454 |
|
Total Current Assets
|
313,980,807 |
544,763,240 |
700,636,931 |
|
Investment in
Joint-Venture |
3,155,050 |
3,000,630 |
3,322,070 |
|
Fixed Assets |
4,687,716 |
6,544,526 |
8,417,727 |
|
Other Non-current Assets |
1,140,622 |
1,108,185 |
927,950 |
|
Total Assets |
322,964,195 |
555,416,581 |
713,304,678 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts Payable |
10,922,569 |
222,950,369 |
421,882,706 |
|
Accrued Expenses |
24,121,425 |
56,586,302 |
87,233,725 |
|
Loans |
50,000,000 |
50,000,000 |
73,658,080 |
|
Accrued Dividend |
7,670,000 |
- |
- |
|
Other Liabilities |
893,760 |
- |
73,953 |
|
Total Current Liabilities |
93,607,754 |
329,536,671 |
582,848,464 |
|
Total Liabilities |
93,607,754 |
329,536,671 |
582,848,464 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized &
issued share capital 1,000,000 shares |
100,000,000 |
100,000,000 |
100,000,000 |
|
Capital Paid |
29,500,000 |
29,500,000 |
29,500,000 |
|
Statutory Reserve |
4,919,474 |
4,005,790 |
2,950,000 |
|
Retained Earning -
Unappropriated |
194,936,967 |
192,374,120 |
98,006,214 |
|
Total Shareholders' Equity |
229,356,441 |
225,879,910 |
130,456,214 |
|
Total Liabilities & Shareholders' Equity |
322,964,195 |
555,416,581 |
713,304,678 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales & Services
Income |
709,346,834 |
1,377,931,856 |
1,199,625,401 |
|
Other Income |
24,958,582 |
30,463,486 |
8,231,997 |
|
Total Revenues |
734,305,416 |
1,408,395,342 |
1,207,857,398 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
476,383,354 |
1,019,325,992 |
883,986,858 |
|
Selling Expenses |
85,914,144 |
152,602,759 |
132,852,912 |
|
Administrative Expenses |
121,424,933 |
57,366,831 |
55,202,156 |
|
Total Expenses |
683,722,431 |
1,229,295,582 |
1,072,041,926 |
|
Profit before Financial
Costs & Income Tax |
50,582,985 |
179,099,760 |
135,815,472 |
|
Financial Costs |
[7,152,610] |
[11,653,876] |
[10,822,821] |
|
Profit before Income
Tax |
43,430,375 |
167,445,884 |
124,992,651 |
|
Income Tax |
[32,283,844] |
[51,962,188] |
[38,719,108] |
|
Net Profit / [Loss] |
11,146,531 |
115,483,696 |
86,273,543 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.35 |
1.65 |
1.20 |
|
QUICK RATIO |
TIMES |
3.07 |
1.40 |
1.06 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
151.32 |
210.55 |
142.51 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.20 |
2.48 |
1.68 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
12.04 |
27.31 |
12.56 |
|
INVENTORY TURNOVER |
TIMES |
30.31 |
13.36 |
29.05 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
53.29 |
64.02 |
135.51 |
|
RECEIVABLES TURNOVER |
TIMES |
6.85 |
5.70 |
2.69 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
8.37 |
79.83 |
174.20 |
|
CASH CONVERSION CYCLE |
DAYS |
56.97 |
11.50 |
(26.12) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
67.16 |
73.98 |
73.69 |
|
SELLING & ADMINISTRATION |
% |
29.23 |
15.24 |
15.68 |
|
INTEREST |
% |
1.01 |
0.85 |
0.90 |
|
GROSS PROFIT MARGIN |
% |
36.36 |
28.24 |
27.00 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.13 |
13.00 |
11.32 |
|
NET PROFIT MARGIN |
% |
1.57 |
8.38 |
7.19 |
|
RETURN ON EQUITY |
% |
4.86 |
51.13 |
66.13 |
|
RETURN ON ASSET |
% |
3.45 |
20.79 |
12.09 |
|
EARNING PER SHARE |
BAHT |
37.78 |
391.47 |
292.45 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.29 |
0.59 |
0.82 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.41 |
1.46 |
4.47 |
|
TIME INTEREST EARNED |
TIMES |
7.07 |
15.37 |
12.55 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(48.52) |
14.86 |
|
|
OPERATING PROFIT |
% |
(71.76) |
31.87 |
|
|
NET PROFIT |
% |
(90.35) |
33.86 |
|
|
FIXED ASSETS |
% |
(28.37) |
(22.25) |
|
|
TOTAL ASSETS |
% |
(41.85) |
(22.13) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -48.52%. Turnover has decreased from THB
1,377,931,856.00 in 2010 to THB 709,346,834.00 in 2011. While net profit has
decreased from THB 115,483,696.00 in 2010 to THB 11,146,531.00 in 2011. And
total assets has decreased from THB 555,416,581.00 in 2010 to THB
322,964,195.00 in 2011.
PROFITABILITY :
ACCEPTABLE
%2015-May-2013_files/image002.gif)
PROFITABILITY RATIO
|
Gross Profit Margin |
36.36 |
Impressive |
Industrial
Average |
14.16 |
|
Net Profit Margin |
1.57 |
Deteriorated |
Industrial
Average |
3.78 |
|
Return on Assets |
3.45 |
Acceptable |
Industrial
Average |
5.31 |
|
Return on Equity |
4.86 |
Deteriorated |
Industrial
Average |
11.81 |
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 36.36%. 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 1.57%.
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, its was lower, the company's figure is 3.45%.
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 4.86%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
IMPRESSIVE
%2015-May-2013_files/image004.gif)
LIQUIDITY RATIO
|
Current Ratio |
3.35 |
Impressive |
Industrial
Average |
1.53 |
|
Quick Ratio |
3.07 |
|
|
|
|
Cash Conversion Cycle |
56.97 |
|
|
|
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 3.35 times in 2011, increased from 1.65 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 3.07 times in 2011,
increased from 1.4 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 57 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
%2015-May-2013_files/image006.gif)
%2015-May-2013_files/image008.gif)
LEVERAGE RATIO
|
Debt Ratio |
0.29 |
Impressive |
Industrial
Average |
0.51 |
|
Debt to Equity Ratio |
0.41 |
Impressive |
Industrial
Average |
1.04 |
|
Times Interest Earned |
7.07 |
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 7.08 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 0.29 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 :
EXCELLENT
%2015-May-2013_files/image010.gif)
ACTIVITY RATIO
|
Fixed Assets Turnover |
151.32 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
2.20 |
Impressive |
Industrial
Average |
1.41 |
|
Inventory Conversion Period |
12.04 |
|
|
|
|
Inventory Turnover |
30.31 |
Impressive |
Industrial
Average |
3.56 |
|
Receivables Conversion Period |
53.29 |
|
|
|
|
Receivables Turnover |
6.85 |
Impressive |
Industrial
Average |
2.56 |
|
Payables Conversion Period |
8.37 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.85 and 5.70 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 decreased from 27 days at the
end of 2010 to 12 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 13.36 times in year 2010 to 30.31
times in year 2011.
The company's Total Asset Turnover is calculated as 2.2 times and 2.48
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
|
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.