MIRA INFORM REPORT
|
Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
IMAGE D’ASIE SOCIETE ANONYME |
|
|
|
|
Registered Office : |
11/440 Moo 10,
Ladprao-Wanghin Road, Ladprao,
Bangkok 10230 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
1998 |
|
|
|
|
Com. Reg. No.: |
0105541040140 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Tours and Travel
Service |
|
|
|
|
No. of Employees : |
12 |
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
IMAGE D’ASIE SOCIETE ANONYME
SUMMARY
BUSINESS ADDRESS : 11/440 MOO 10,
LADPRAO-WANGHIN ROAD,
LADPRAO, BANGKOK
10230, THAILAND
TELEPHONE : [66] 2530-2722-6,
81 820-4828
FAX : [66] 2539-6477
E-MAIL ADDRESS : info@imagedasie.com
imagedasie@hotmail.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1998
REGISTRATION NO. : 0105541040140
TAX ID NO. : 3011952153
CAPITAL REGISTERED : BHT.
5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING
DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MS. MINGKWAN METMOWLEE,
THAI
MANAGING DIRECTOR
& MARKETING DIRECTOR
NO. OF STAFF : 12
LINES OF BUSINESS : TOURS
AND TRAVEL SERVICE
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH GOOD PERFORMANCE
HISTORY
The subject was
established on June
30, 1998 as
a private limited
company under the name style
IMAGE D’ASIE SOCIETE
ANONYME by Thai
groups, with the
business objective to
be engaged in tour and
travel business both
in-bound and out-bound.
It currently employs
12 permanent staff.
The subject’s registered
address was located
at 11/440 Moo 10,
Ladprao-Wanghin Rd., Ladprao,
Bangkok 10230.
In 2010, the
subject’s address was
changed from 11/440 Moo 10
Ladprao-Wanghin Rd., Ladprao,
Bangkok 10230 to 193 Ladprao-Wanghin Rd., Ladprao,
Bangkok 10230, by
the Ladprao District
Office of Bangkok
Metropolitan Administration. Actually
both are the same
location.
However, subject is
still using the
address “11/440 Moo 10,
Ladprao-Wanghin Rd., Ladprao,
Bangkok 10230” as the registered
and current operation
address.
THE BOARD OF DIRECTOR
Ms. Mingkwan Metmowlee
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Ms. Mingkwan Metmowlee is
the Managing Director.
She is Thai
nationality with the
age of 47
years old.
Ms. Wisawarak Jitmana is
the Marketing and
Reservation Manager.
She is Thai
nationality.
Ms. Bulla Sereethamma is the
Operation Manager.
She is Thai
nationality.
Ms. Siriwan Noonoi is
the Accounting Manager.
She is Thai
nationality.
Ms. Chutikan Suklim is
the Reservation Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in tour
and travel business,
to provide in-bound,
out-bound travel service,
e.g. cultural tour
and leisure operation
service both in
Thailand and overseas,
such as Myanmar,
Laos, Cambodia, Malaysia,
and Indonesia [Bali]. Ranges
of services are
as the followings:
The services provided
are as the
followings:
Identify event venue
Professional Conference
Organizers
Destination Management Services
Concepting and coordinating
Pre & Post event tours
Concepting and managing
Spouse and Accompanying Persons programmes
Ground handing for particular
Incentive Specialists:
Planning consultancy and budget
forecasting for incentive
groups
Concepting tailor-made
activities including special
interest programmes such as
team building, theme
parties
Planning and coordinating
pre-events site inspections
Concepting and managing
suppliers for teasers,
souvenirs, room-drops
Entertainment programs
Inbound Agency:
Ground handling for
Thailand, Myanmar, Cambodia,
and Laos
Fully organized for
tour operator and
travel agent
Specialization for French
and English guide
tour
Hotel reservation &
Airlines ticket at
competitive rate & tours
online service
Additional Information:
Destination Management Company
Professional Conference Organization
Hotel Reservation
Special Interest Tours: Wedding Package, Hill Tribe and
Lodges, Day Excursions Tours, Boats Trips and Cruise, Cycling Tours, Dive Package and
etc.
Pre & Post Event Programmes
Business/Leisure Travel
SALES/SERVICES
80% of clients
are European tourists,
and the remaining
20% are Asian
tourists.
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 services are
by cash or
on the credit
term of 30
days.
Local bills are
paid by cash
or on the
credit term of
30 days.
Foreign services are
against T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
12 staff comprising
7 office staff
and 5 touring
guides, as well
as 15 freelance
guides.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial/residential area.
COMMENT
Despite the stiff
competitive market, the
subject can maintain
its business in
good conditions. In
2011, sales of
air-ticketing were likely
to grow well
from both local
and overseas clients,
as well as
the service revenue
from inbound and
outbound tours has
been increased significantly.
The subject was doing
good business and
its business performance
in 2012 was
considered satisfactory. The
subject expects a
business expansion in
the year 2013
especially from China
and Korea. In
general subject still
maintains its good
business.
FINANCIAL INFORMATION
The capital was registered at
Bht. 500,000 divided into
50,000 shares of
Bht. 10 each with
fully paid.
The capital was
increased later as
follows:
Bht. 1,000,000
on September 16,
1998
Bht. 3,000,000
on January 23,
2003
Bht. 5,000,000
on January 30,
2008
The latest registered
capital was increased
to Bht. 5,000,000 divided
into 500,000 shares
of Bht. 10 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Mingkwan Metmowlee Nationality: Thai Address : 11/440
Moo 10, Ladprao-Wanghin Rd.,
Ladprao, Bangkok |
249,750 |
49.95 |
|
Mr. Thirawat Ruengsuwan Nationality: Thai Address : 61/1 Moo
4, Jorakaebua, Ladprao, Bangkok |
249,750 |
49.95 |
|
Mr. Pasit Metmowlee Nationality: Thai Address : 11/143
Moo 10, Ladprao-Wanghin Rd.,
Ladprao, Bangkok |
100 |
0.02 |
|
Mrs. Euang-aroon Metmowlee Nationality: Thai Address : 11/143
Moo 10, Ladprao-Wanghin Rd.,
Ladprao, Bangkok |
100 |
0.02 |
|
Mr. Poolsak Metmowlee Nationality: Thai Address : 33
Dindaeng Rd., Samsennai,
Dindaeng, Bangkok |
100 |
0.02 |
|
Mr. Charnchai Prapakunakorn Nationality: Thai Address : 924/1
Apibarnbancha Rd., Muang,
Nakornpanom |
100 |
0.02 |
|
Mr. Bandit Chaiwat Nationality: Thai Address : 1
Moo 2, Klongnakornnuengkhet, Muang, Chachoengsao |
100 |
0.02 |
Total Shareholders : 7
Share Structure
[as at April
30, 2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT
NO.
Mrs. Yaowares Saenchai No.
6206
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 |
15,745.00 |
273,649.58 |
266,658.00 |
|
Short-term Investment |
200,000.00 |
200,000.00 |
200,000.00 |
|
Trade Accounts &
Other Receivable |
60,613.99 |
30,161.19 |
2,392,528.70 |
|
Short-term Lending to Related
Person |
4,196,000.00 |
1,900,000.00 |
1,250,000.00 |
|
Other Current Assets |
- |
- |
49,713.76 |
|
|
|
|
|
|
Total Current Assets
|
4,472,358.99 |
2,403,810.77 |
4,158,900.46 |
|
Fixed Assets |
447,599.56 |
491,333.09 |
521,517.67 |
|
Other Non-current Assets |
623,674.79 |
461,580.40 |
200,571.21 |
|
Total Assets |
5,543,633.34 |
3,356,724.26 |
4,880,989.34 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft |
306,667.40 |
- |
1,650,931.08 |
|
Trade Accounts &
Notes Payable |
1,519,555.46 |
166,999.68 |
- |
|
Other Current Liabilities |
48,657.85 |
15,594.55 |
213,432.81 |
|
|
|
|
|
|
Total Current Liabilities |
1,874,880.71 |
182,594.23 |
1,864,363.89 |
|
Total Liabilities |
1,874,880.71 |
182,594.23 |
1,864,363.89 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 500,000 shares |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning -
Unappropriated |
[1,331,247.37] |
[1,825,869.97] |
[1,983,374.55] |
|
Total Shareholders' Equity |
3,668,752.63 |
3,174,130.03 |
3,016,625.45 |
|
Total Liabilities &
Shareholders' Equity |
5,543,633.34 |
3,356,724.26 |
4,880,989.34 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Service Income |
21,530,017.78 |
9,101,583.14 |
7,579,930.75 |
|
Other Income |
157,353.95 |
85,112.70 |
77,877.34 |
|
Total Revenues |
21,687,371.73 |
9,186,695.84 |
7,657,808.09 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold and Service
|
19,700,019.86 |
7,687,901.97 |
6,783,283.74 |
|
Administrative Expenses |
1,277,439.78 |
1,225,436.87 |
791,889.38 |
|
Other Expenses |
9,731.12 |
7,979.95 |
30,067.88 |
|
Total Expenses |
20,987,190.76 |
8,921,318.79 |
7,605,241.00 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
700,180.97 |
265,377.05 |
52,567.09 |
|
Financial Cost |
[144,660.23] |
[90,560.14] |
[162,156.68] |
|
Profit / [Loss] before Income
Tax |
555,520.74 |
174,816.91 |
[109,589.59] |
|
Income Tax |
[60,898.14] |
[17,312.33] |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
494,622.60 |
157,504.58 |
[109,589.59] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.39 |
13.16 |
2.23 |
|
QUICK RATIO |
TIMES |
2.39 |
13.16 |
2.20 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
48.10 |
18.52 |
14.53 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.88 |
2.71 |
1.55 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
1.03 |
1.21 |
115.21 |
|
RECEIVABLES TURNOVER |
TIMES |
355.20 |
301.76 |
3.17 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
28.15 |
7.93 |
- |
|
CASH CONVERSION CYCLE |
DAYS |
(27.13) |
(6.72) |
115.21 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.50 |
84.47 |
89.49 |
|
SELLING & ADMINISTRATION |
% |
5.93 |
13.46 |
10.45 |
|
INTEREST |
% |
0.67 |
0.99 |
2.14 |
|
GROSS PROFIT MARGIN |
% |
9.23 |
16.47 |
11.54 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.25 |
2.92 |
0.69 |
|
NET PROFIT MARGIN |
% |
2.30 |
1.73 |
(1.45) |
|
RETURN ON EQUITY |
% |
13.48 |
4.96 |
(3.63) |
|
RETURN ON ASSET |
% |
8.92 |
4.69 |
(2.25) |
|
EARNING PER SHARE |
BAHT |
0.99 |
0.32 |
(0.22) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.34 |
0.05 |
0.38 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.51 |
0.06 |
0.62 |
|
TIME INTEREST EARNED |
TIMES |
4.84 |
2.93 |
0.32 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
136.55 |
20.07 |
|
|
OPERATING PROFIT |
% |
163.84 |
404.83 |
|
|
NET PROFIT |
% |
214.04 |
243.72 |
|
|
FIXED ASSETS |
% |
(8.90) |
(5.79) |
|
|
TOTAL ASSETS |
% |
65.15 |
(31.23) |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 136.55%. Turnover has increased from THB
9,101,583.14 in 2010 to THB 21,530,017.78 in 2011. While net profit has
increased from THB 157,504.58 in 2010 to THB 494,622.60 in 2011. And total
assets has increased from THB 3,356,724.26 in 2010 to THB 5,543,633.34 in 2011.
PROFITABILITY : SATISFACTORY
PROFITABILITY RATIO
|
Gross Profit Margin |
9.23 |
Deteriorated |
Industrial Average |
33.70 |
|
Net Profit Margin |
2.30 |
Acceptable |
Industrial Average |
3.12 |
|
Return on Assets |
8.92 |
Impressive |
Industrial Average |
6.21 |
|
Return on Equity |
13.48 |
Satisfactory |
Industrial Average |
16.67 |
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 9.23%. 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 2.3%. 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. Return on Assets ratio is
8.92%, 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. When compared with the
industry average, it was lower, the company's figure is 13.48%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : EXCELLENT
LIQUIDITY RATIO
|
Current Ratio |
2.39 |
Impressive |
Industrial Average |
1.40 |
|
Quick Ratio |
2.39 |
|
|
|
|
Cash Conversion Cycle |
(27.13) |
|
|
|
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 2.39 times in 2011, decreased from 13.16 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 2.39 times in 2011,
decreased from 13.16 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 -28 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.34 |
Impressive |
Industrial Average |
0.63 |
|
Debt to Equity Ratio |
0.51 |
Impressive |
Industrial Average |
1.66 |
|
Times Interest Earned |
4.84 |
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 4.85 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 0.34 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 Uptrend
Times Interest Earned Downtrend
ACTIVITY : EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
48.10 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
3.88 |
Impressive |
Industrial Average |
1.99 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
8.95 |
|
Receivables Conversion Period |
1.03 |
|
|
|
|
Receivables Turnover |
355.20 |
Impressive |
Industrial Average |
3.16 |
|
Payables Conversion Period |
28.15 |
|
|
|
The company's Account Receivable Ratio is calculated as 355.20 and
301.76 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.
The company's Total Asset Turnover is calculated as 3.88 times and 2.71
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.54.88 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.