MIRA INFORM REPORT
|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
TMP
RICE MILL COMPANY
LIMITED |
|
|
|
|
Registered Office : |
95 Yotha Road, Taladnoi, Samphantawong, Bangkok 10100 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
29.07.2002 |
|
|
|
|
Com. Reg. No.: |
0105545077081 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
subject is engaged in rice mill business, and exporting various kinds of Thai rice, such as jasmine rice, white rice, parboiled rice, brown rice and etc., |
|
|
|
|
No. of Employees : |
150 |
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 : |
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
TMP RICE MILL
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 95
YOTHA ROAD, TALADNOI,
SAMPHANTAWONG,
BANGKOK 10100,
THAILAND
TELEPHONE : [66] 2639-5816-7
FAX : [66] 2237-3813
E-MAIL
ADDRESS : rice@tmpricemill.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2002
REGISTRATION
NO. : 0105545077081
TAX
ID NO. : 3030631411
CAPITAL REGISTERED : BHT. 300,000,000
CAPITAL PAID-UP : BHT.
300,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SOMNUEK CHAIYAKUL,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 150
LINES
OF BUSINESS : RICE
PRODUCTS
RICE MILL
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
LOW PERFORMANCE
HISTORY
The
subject was established
on July 29, 2002 as
a private limited
company under the registered
name TMP RICE MILL
COMPANY LIMITED, by
Thai groups, with the
objective to be engaged in
rice mill business
and export various
kinds of rice
to world market.
It currently employs
approximately 150 staff.
The subject’s registered
address is 95
Yotha Rd., Taladnoi,
Samphantawong, Bangkok 10100,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somnuek Chaiyakul |
[x] |
Thai |
61 |
|
Mrs. Poonphan Chaiyakul |
|
Thai |
53 |
|
Ms. Sutthilak Chaiyakul |
|
Thai |
39 |
|
Ms. Pinida Chaiyakul |
|
Thai |
33 |
|
Mr. Prompong Chaiyakul |
|
Thai |
31 |
|
Mrs. Puangporn Wongstavorn |
|
Thai |
65 |
AUTHORIZED PERSON
Only the mentioned
director [x] signs
or any two
of the rest
directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Somnuek Chaiyakul is
the Managing Director.
He is Thai
nationality with the
age of 61
years old.
Mrs. Poonphan Chaiyakul is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 53
years old.
Mr. Thanarat Viriya is
the Human Resources
& Factory Manager.
He is Thai
nationality.
Ms. Pinida Chaiyakul is
the Assistant Managing
Director & Export Manager.
She is Thai
nationality with the
age of 33
years old.
BUSINESS OPERATIONS
The subject
is engaged in
rice mill business,
and exporting various
kinds of Thai
rice, such as
jasmine rice, white
rice, parboiled rice,
brown rice and
etc., under its
own brand “TMP”,
with the production
capacity of 100,000-201,000 tons
per annum.
PURCHASE
100%
of the products
is purchased from
local farmers and
suppliers.
EXPORT
100% of the
products is exported
to Hong Kong, Republic of
China, and many
countries in Middle
East, Europe and
South Africa.
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.
Exports are by
T/T.
BANKING
Kasikornbank
Public Co., Ltd.
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
approximately 150 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in commercial area.
Rice
mill and warehouse
:
-
459 Moo 9, T.
Khaosamorkuan, A. Thawung, Lopburi
15180.
Tel. : [66] 36 531-000.
-
78/1
Moo 4, T. Thakam,
A. Bangpakong, Chachoengsao 24130.
Tel. : [66]
39 828-441-9.
COMMENT
The
subject was formed
in 2002 as
a rice mill
operator. Its products
are various kinds
of rice, such
as jasmine rice,
white rice, parboiled
rice and brown rice.
Despite world economic
sluggish, rice products are
in strong demand from
world market. Subject maintains its
good business.
FINANCIAL INFORMATION
The
capital was registered at Bht. 5,000,000
divided into 50,000 shares
of Bht. 100 each
with fully paid.
On
March 22, 2010,
the registered capital
was increased to
Bht. 300,000,000 divided
into 3,000,000 shares
of Bht. 100 each
with fully paid.
MAIN
SHAREHOLDERS : [as
at July 12,
2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Kulpassorn Co., Ltd. Nationality: Thai Address : 14/6
Moo 6, Bangmod,
Jomthong,
Bangkok |
1,000,000 |
33.33 |
|
Cheeva Rice Co.,
Ltd. Nationality: Thai Address : 95
Yotha Rd., Taladnoi,
Samphantawong, Bangkok |
500,000 |
16.67 |
|
Mr. Somnuek Chaiyakul Nationality: Thai Address : 87
Yotha Rd., Taladnoi,
Samphantawong,
Bangkok |
370,000 |
12.33 |
|
Mrs. Poonphan Chaiyakul Nationality: Thai Address : 56
Rama 2 Rd.,
Bangmod, Jomthong, Bangkok |
200,000 |
6.67 |
|
Ms. Pinida Chaiyakul Nationality: Thai Address : 14/5
Moo 6, Rama
2 Rd., Bangmod,
Jomthong, Bangkok |
200,000 |
6.67 |
|
Mr. Prompong Chaiyakul Nationality: Thai Address : 14/5
Moo 6, Rama
2 Rd., Bangmod,
Jomthong, Bangkok |
150,000 |
5.00 |
|
Master Nathapong Chaiyakul Nationality: Thai Address : 56
Rama 2 Rd.,
Bangmod, Jomthong, Bangkok |
110,000 |
3.67 |
|
Ms. Nanthicha Chaiyakul Nationality: Thai Address : 56
Rama 2 Rd.,
Bangmod, Jomthong, Bangkok |
110,000 |
3.67 |
|
Ms. Laksipa Chaiyakul Nationality: Thai Address : 56
Rama 2 Rd.,
Bangmod, Jomthong, Bangkok |
110,000 |
3.67 |
|
Other Shareholders |
250,000 |
8.32 |
Total Shareholders : 12
Share Structure [as
at July 12,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
12 |
3,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
12 |
3,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Chaiwit Othakam No.
8713
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current
Assets |
2011 |
2010 [Adjusted] |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
739,745.39 |
3,699,757.87 |
4,830,253.00 |
|
Trade Accounts
& Other Receivable |
234,226,120.24 |
89,791,938.52 |
- |
|
Short-term Lending
|
102,169,394.85 |
53,398,079.97 |
- |
|
Inventories |
138,804,350.11 |
549,144,460.01 |
- |
|
Other Current
Assets |
16,445,070.04 |
5,500,961.87 |
- |
|
|
|
|
|
|
Total Current
Assets |
492,384,680.63 |
701,535,198.24 |
4,830,253.00 |
|
Fixed Assets |
756,843,798.62 |
1,006,298,834.80 |
- |
|
Other Non-current
Assets |
48,100.00 |
8,100.00 |
- |
|
Total Assets |
1,249,276,579.25 |
1,707,842,133.04 |
4,830,253.00 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 [Adjusted] |
2009 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institutions |
457,815,624.30 |
652,385,180.77 |
- |
|
Trade Accounts & Other Payable
|
44,579,792.98 |
29,618,191.94 |
- |
|
Current Portion
of Long-term Loans |
80,000,000.00 |
80,000,000.00 |
- |
|
Other Current
Liabilities |
491,674.35 |
809,293.22 |
5,000.00 |
|
|
|
|
|
|
Total Current Liabilities
|
582,887,091.63 |
762,812,665.93 |
5,000.00 |
|
Long-term Loan - Net
of Current Portion |
579,643,978.42 |
659,643,978.54 |
- |
|
Employee Benefit
Obligation |
661,690.00 |
- |
- |
|
Total Liabilities |
1,163,192,760.05 |
1,422,456,644.47 |
5,000.00 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized,
issued and fully
paid
share capital 3,000,000 shares
in 2011 &
2010; and 50,000
shares in 2009 |
300,000,000.00 |
300,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
300,000,000.00 |
300,000,000.00 |
5,000,000.00 |
|
Retained Earnings -
Unappropriated |
[213,916,180.80] |
[14,614,511.43] |
[174,747.00] |
|
Total Shareholders' Equity |
86,083,819.20 |
285,385,488.57 |
4,825,253.00 |
|
Total Liabilities
& Shareholders' Equity |
1,249,276,579.25 |
1,707,842,133.04 |
4,830,253.00 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2011 |
2010 [Adjusted] |
2009 |
|
|
|
|
|
|
Sales Income |
5,767,176,767.45 |
2,227,515,043.53 |
- |
|
Other Income |
113,257,387.58 |
33,940,481.22 |
- |
|
Total Revenues |
5,880,434,155.03 |
2,261,455,524.75 |
- |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold |
5,281,210,721.70 |
2,027,422,690.60 |
- |
|
Selling Expenses |
439,894,420.75 |
179,594,944.27 |
- |
|
Administrative Expenses |
37,503,847.09 |
28,695,336.11 |
5,600.00 |
|
Other Expenses |
199,914,905.84 |
- |
- |
|
Total Expenses |
5,958,523,895.38 |
2,235,712,970.98 |
5,600.00 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost |
[78,089,740.35] |
25,742,553.77 |
[5,600.00] |
|
Financial Costs |
[121,211,929.02] |
[40,182,318.20] |
- |
|
Net Profit / [Loss] |
[199,301,669.37] |
[14,439,764.43] |
[5,600.00] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.84 |
0.92 |
966.05 |
|
QUICK RATIO |
TIMES |
0.58 |
0.19 |
966.05 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.62 |
2.21 |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
4.62 |
1.30 |
- |
|
INVENTORY CONVERSION PERIOD |
DAYS |
9.59 |
98.86 |
- |
|
INVENTORY TURNOVER |
TIMES |
38.05 |
3.69 |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
14.82 |
14.71 |
- |
|
RECEIVABLES TURNOVER |
TIMES |
24.62 |
24.81 |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
3.08 |
5.33 |
- |
|
CASH CONVERSION CYCLE |
DAYS |
21.34 |
108.24 |
- |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.57 |
91.02 |
- |
|
SELLING & ADMINISTRATION |
% |
8.28 |
9.35 |
- |
|
INTEREST |
% |
2.10 |
1.80 |
- |
|
GROSS PROFIT MARGIN |
% |
10.39 |
10.51 |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(1.35) |
1.16 |
- |
|
NET PROFIT MARGIN |
% |
(3.46) |
(0.65) |
- |
|
RETURN ON EQUITY |
% |
(231.52) |
(5.06) |
(0.12) |
|
RETURN ON ASSET |
% |
(15.95) |
(0.85) |
(0.12) |
|
EARNING PER SHARE |
BAHT |
(66.43) |
(4.81) |
(0.11) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.93 |
0.83 |
0.00 |
|
DEBT TO EQUITY RATIO |
TIMES |
13.51 |
4.98 |
0.00 |
|
TIME INTEREST EARNED |
TIMES |
(0.64) |
0.64 |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
158.91 |
- |
|
|
OPERATING PROFIT |
% |
(403.35) |
(459,788.46) |
|
|
NET PROFIT |
% |
(1,280.23) |
(257,752.94) |
|
|
FIXED ASSETS |
% |
(24.79) |
- |
|
|
TOTAL ASSETS |
% |
(26.85) |
35,257.20 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is 158.91%. Turnover has increased from THB 2,227,515,043.53
in 2010 to THB 5,767,176,767.45 in 2011. While net profit has decreased from
THB -14,439,764.43 in 2010 to THB -199,301,669.37 in 2011. And total assets has
decreased from THB 1,707,842,133.04 in 2010 to THB 1,249,276,579.25 in 2011.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.39 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
(3.46) |
Deteriorated |
Industrial Average |
0.99 |
|
Return on Assets |
(15.95) |
Deteriorated |
Industrial Average |
3.67 |
|
Return on Equity |
(231.52) |
Deteriorated |
Industrial Average |
11.05 |
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 10.39%. 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 -3.46%.
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 -15.95%.
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 -231.52%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.84 |
Risky |
Industrial Average |
1.35 |
|
Quick Ratio |
0.58 |
|
|
|
|
Cash Conversion Cycle |
21.34 |
|
|
|
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 0.84 times in 2011, decreased from 0.92 times, then the company may have
problems meeting its short-term obligations. 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 0.58 times in 2011,
decreased from 0.19 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 22 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.93 |
Acceptable |
Industrial Average |
0.62 |
|
Debt to Equity Ratio |
13.51 |
Risky |
Industrial Average |
1.63 |
|
Times Interest Earned |
(0.64) |
Risky |
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 -0.65 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 0.93 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 |
7.62 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
4.62 |
Impressive |
Industrial Average |
3.72 |
|
Inventory Conversion Period |
9.59 |
|
|
|
|
Inventory Turnover |
38.05 |
Impressive |
Industrial Average |
5.79 |
|
Receivables Conversion Period |
14.82 |
|
|
|
|
Receivables Turnover |
24.62 |
Impressive |
Industrial Average |
5.57 |
|
Payables Conversion Period |
3.08 |
|
|
|
The company's Account Receivable Ratio is calculated as 24.62 and 24.81
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 decreased from 2010. This would suggest the company had deteriorated 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 99 days at the
end of 2010 to 10 days at the end of 2011. This represents a positive trend.
And Inventory turnover has increased from 3.69 times in year 2010 to 38.05
times in year 2011.
The company's Total Asset Turnover is calculated as 4.62 times and 1.3
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 Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
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.