MIRA INFORM REPORT
|
Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
TH
COLOR COMPANY LIMITED |
|
|
|
|
Registered Office : |
335/19 Moo 9, Bangna-Trad Road. T. Bangchalong, A. Bangplee, Samutprakarn 10540 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
10.03.2008 |
|
|
|
|
Com. Reg. No.: |
0115551002780 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, distributor and
exporter of master batch and
compounds |
|
|
|
|
No. of Employees : |
145 |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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
TH COLOR COMPANY
LIMITED
SUMMARY
BUSINESS
ADDRESS : 335/19 MOO 9,
BANGNA-TRAD ROAD.
T.
BANGCHALONG, A. BANGPLEE,
SAMUTPRAKARN 10540
TELEPHONE : [66] 2337-2777
FAX :
[66] 2337-2772
E-MAIL
ADDRESS : info@thcolor.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2008
REGISTRATION
NO. : 0115551002780
TAX
ID NO. : 3032981316
CAPITAL REGISTERED : BHT. 15,000,000
CAPITAL PAID-UP : BHT.
15,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS. PATCHARA HEMNILRAT,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 145
LINES
OF BUSINESS : MASTER BATCH
AND COMPOUNDS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
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 March 10,
2008 as a
private limited company
under the name style
TH COLOR COMPANY
LIMITED by Thai groups. Its
business objective is to manufacture and
supply master batch and compounds
for plastic [polymer] industry
both domestic and
international markets. It
currently employs 145
staff.
The subject’s registered
address is 335/19 Moo 9, Bangna-Trad Rd., Bangchalong,
Bangplee, Samutprakarn 10540,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Patchara Hemnilrat |
[x] |
Thai |
63 |
|
Mr. Teerawat Hemnilrat |
|
Thai |
69 |
|
Mr. Thanawit Hemnilrat |
|
Thai |
39 |
|
Ms. Chanida Hemnilrat |
|
Thai |
35 |
AUTHORIZED PERSON
Only the mentioned
director [x] can
sign or any
two of the
rest directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mrs. Patchara Hemnilrat is
the Managing Director.
She is Thai
nationality with the
age of 63 years
old.
Mr. Thanawit Hemnilrat is
the Assistant Managing
Director.
He is Thai
nationality with the
age of 39
years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing and supplying
of master batch
and compounds for plastic [polymer] products,
including thermo plastic,
thermo set resin, elastomer,
PVC resin and etc.,
mainly supply to packaging, electrical,
electronics and automotive
industries.
PRODUCTION CAPACITY
approximately 900
tons per month.
BRAND NAME
“TH COLOR”
PURCHASE
Most
of raw materials
are purchased from
local suppliers, the
remaining is imported
from Republic of
China, Taiwan, Japan,
India, U.S.A., as
well as machinery is
imported from Germany.
SALES
70% of the
products is sold
locally by wholesale
to manufacturers and
end-users, the remaining
30% is exported to
Japan, Taiwan, Korea, India,
Republic of China,
Australia, Singapore, Vietnam,
U.S.A., Middle East
and European countries.
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.
EMPLOYMENT
The
subject employs 145
office staff and
factory workers.
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 was
formed in 2008
as a manufacturer, distributor and exporter
of master batch and compound. The
products are for
plastic industry. As demand of high-quality chemicals
continues growing through
the industries, strong consumption has brightened subject’s
market prospect and also maintains
its outstanding business.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht. 100
each.
On
April 22, 2008,
the capital was
increased to Bht. 15,000,000 divided
into 150,000 shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
August 6, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Patchara Hemnilrat Nationality: Thai Address : 199/74
Moo 7, Bangna-Trad Rd.,
Bangchalong, Bangplee, Samutprakarn |
120,000 |
80.00 |
|
Mr. Thanawuth Hemnilrat Nationality: Thai Address : 199/74
Moo 7, Bangna-Trad Rd., Bangchalong, Bangplee,
Samutprakarn |
15,000 |
10.00 |
|
Ms. Chanida Hemnilrat Nationality: Thai Address : 199/74
Moo 7, Bangna-Trad Rd.,
Bangchalong, Bangplee, Samutprakarn |
15,000 |
10.00 |
Total Shareholders : 3
Share Structure [as
at August 6,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
150,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
150,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO. :
Mrs. Yupares Daenwangderm No.
2967
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2011, 2010 & 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalent |
2,606,026.26 |
2,596,481.10 |
130,476.64 |
|
Trade Accounts & Other
Receivable |
84,901,749.66 |
72,145,001.39 |
12,644,916.43 |
|
Inventories |
29,050,515.70 |
20,530,139.77 |
7,341,114.04 |
|
Revenue Department Receivable |
3,542,703.65 |
3,059,249.99 |
1,900,351.53 |
|
Other Current Assets |
330,728.34 |
273,999.30 |
1,073,694.68 |
|
Total Current Assets
|
120,431,723.61 |
98,604,871.55 |
23,090,553.32 |
|
|
|
|
|
|
Fixed Assets |
152,055,905.18 |
98,604,871.55 |
166,135,656.47 |
|
Guarantee and Deposit |
327,050.00 |
1,815,050.00 |
314,500.00 |
|
Other Non-current Assets |
243,042.28 |
388,959.17 |
550,709.56 |
|
Total Assets |
273,057,721.07 |
256,363,832.95 |
190,091,419.35 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft and Short-term
Loan from Financial Institutions |
39,923,129.11 |
40,036,716.95 |
18,202,669.45 |
|
Trade Accounts & Other Payable |
78,295,281.80 |
60,366,946.01 |
20,982,265.19 |
|
Current Portion of
Long-term Loans |
17,631,299.68 |
17,284,979.29 |
11,010,952.52 |
|
Current Portion of
Hire-purchase Payable |
442,835.40 |
1,107,835.40 |
1,440,335.40 |
|
Accrued Income Tax |
2,877,896.74 |
- |
361,354.64 |
|
Other Current Liabilities |
170,000.00 |
90,000.00 |
2,879,878.03 |
|
|
|
|
|
|
Total Current Liabilities |
139,340,442.73 |
118,886,477.65 |
54,877,455.23 |
|
|
|
|
|
|
Long-term Loan from Financial Institutions |
74,679,620.59 |
89,143,550.88 |
87,977,955.34 |
|
Other Long-term Loan |
37,550,000.00 |
37,550,000.00 |
39,000,000.00 |
|
Hire-purchase Payable |
213,232.00 |
- |
1,903,593.14 |
|
Employee Benefits Obligation |
355,726.05 |
795,757.71 |
- |
|
Total Liabilities |
252,139,021.37 |
246,375,786.24 |
183,759,003.71 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 150,000 shares |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
|
|
|
|
|
Capital Paid |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
Retained Earning-
Unappropriated |
5,918,699.70 |
[5,011,953.29] |
[8,667,584.36] |
|
Total Shareholders' Equity |
20,918,699.70 |
9,988,046.71 |
6,332,415.64 |
|
Total Liabilities &
Shareholders' Equity |
273,057,721.07 |
256,363,832.95 |
190,091,419.35 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales |
389,270,739.83 |
231,942,191.70 |
18,368,884.58 |
|
Other Income |
1,084,009.05 |
1,223,976.98 |
45,834.68 |
|
Total Revenues |
390,354,748.88 |
233,166,168.68 |
18,414,719.26 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
336,534,546.91 |
203,240,246.08 |
20,770,956.68 |
|
Selling Expenses |
12,852,775.26 |
9,388,730.33 |
1,407,551.52 |
|
Administrative Expenses |
12,433,758.93 |
8,217,032.60 |
2,974,156.98 |
|
Other Expenses |
47,287.30 |
8,354.51 |
512,836.89 |
|
Total Expenses |
361,868,368.40 |
220,854,363.52 |
25,665,502.07 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income Tax |
28,486,380.48 |
12,311,805.16 |
[7,250,782.81] |
|
Financial Cost |
[14,675,503.87] |
[8,656,174.09] |
[1,262,939.13] |
|
Profit / [Loss] before Income
Tax |
13,810,876.61 |
3,655,631.07 |
[8,513,721.94] |
|
Income Tax |
[2,880,223.62] |
- |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
10,930,652.99 |
3,655,631.07 |
[8,513,721.94] |
fINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.86 |
0.83 |
0.42 |
|
QUICK RATIO |
TIMES |
0.63 |
0.63 |
0.23 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.56 |
2.35 |
0.11 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.43 |
0.90 |
0.10 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
31.51 |
36.87 |
129.00 |
|
INVENTORY TURNOVER |
TIMES |
11.58 |
9.90 |
2.83 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
79.61 |
113.53 |
251.26 |
|
RECEIVABLES TURNOVER |
TIMES |
4.58 |
3.21 |
1.45 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
84.92 |
108.41 |
368.71 |
|
CASH CONVERSION CYCLE |
DAYS |
26.20 |
41.99 |
11.55 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.45 |
87.63 |
113.08 |
|
SELLING & ADMINISTRATION |
% |
6.50 |
7.59 |
23.85 |
|
INTEREST |
% |
3.77 |
3.73 |
6.88 |
|
GROSS PROFIT MARGIN |
% |
13.83 |
12.90 |
(12.83) |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.32 |
5.31 |
(39.47) |
|
NET PROFIT MARGIN |
% |
2.81 |
1.58 |
(46.35) |
|
RETURN ON EQUITY |
% |
52.25 |
36.60 |
(134.45) |
|
RETURN ON ASSET |
% |
4.00 |
1.43 |
(4.48) |
|
EARNING PER SHARE |
BAHT |
72.87 |
24.37 |
(56.76) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.92 |
0.96 |
0.97 |
|
DEBT TO EQUITY RATIO |
TIMES |
12.05 |
24.67 |
29.02 |
|
TIME INTEREST EARNED |
TIMES |
1.94 |
1.42 |
(5.74) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
67.83 |
1,162.69 |
|
|
OPERATING PROFIT |
% |
131.37 |
(269.80) |
|
|
NET PROFIT |
% |
199.01 |
142.94 |
|
|
FIXED ASSETS |
% |
54.21 |
(40.65) |
|
|
TOTAL ASSETS |
% |
6.51 |
34.86 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 67.83%. Turnover has increased from THB
231,942,191.70 in 2010 to THB 389,270,739.83 in 2011. While net profit has
increased from THB 3,655,631.07 in 2010 to THB 10,930,652.99 in 2011. And total
assets has increased from THB 256,363,832.95 in 2010 to THB 273,057,721.07 in
2011.
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
13.83 |
Satisfactory |
Industrial Average |
14.31 |
|
Net Profit Margin |
2.81 |
Acceptable |
Industrial Average |
4.51 |
|
Return on Assets |
4.00 |
Acceptable |
Industrial Average |
6.56 |
|
Return on Equity |
52.25 |
Impressive |
Industrial Average |
11.99 |
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 13.83%. 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 2.81%.
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 4%.
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 52.25%, 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 Uptrend
LIQUIDITY : ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.86 |
Risky |
Industrial Average |
1.82 |
|
Quick Ratio |
0.63 |
|
|
|
|
Cash Conversion Cycle |
26.20 |
|
|
|
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 0.86 times in 2011, increased from 0.83 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 0.63 times in 2011,
same figure as 0.63 times in 2010, 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 27 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.92 |
Acceptable |
Industrial Average |
0.40 |
|
Debt to Equity Ratio |
12.05 |
Risky |
Industrial Average |
0.74 |
|
Times Interest Earned |
1.94 |
Deteriorated |
Industrial Average |
8.70 |
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 1.95 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 0.92 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 |
2.56 |
Satisfactory |
Industrial Average |
3.25 |
|
Total Assets Turnover |
1.43 |
Satisfactory |
Industrial Average |
1.44 |
|
Inventory Conversion Period |
31.51 |
|
|
|
|
Inventory Turnover |
11.58 |
Impressive |
Industrial Average |
6.65 |
|
Receivables Conversion Period |
79.61 |
|
|
|
|
Receivables Turnover |
4.58 |
Satisfactory |
Industrial Average |
5.60 |
|
Payables Conversion Period |
84.92 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.58 and 3.21 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 37 days at the end of 2010 to
32 days at the end of 2011. This represents a positive trend. And Inventory
turnover has increased from 9.9 times in year 2010 to 11.58 times in year 2011.
The company's Total Asset Turnover is calculated as 1.43 times and 0.9
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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.78 |
|
UK Pound |
1 |
Rs.83.38 |
|
Euro |
1 |
Rs.70.72 |
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.