MIRA INFORM REPORT
|
Report Date : |
23.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
TANG
TIHUA HENG COMPANY
LIMITED |
|
|
|
|
Registered Office : |
141 Rama 2 Road, Chomthong, Bangkok 10150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
24.09.1974 |
|
|
|
|
Com. Reg. No.: |
0105517010821 [Former : 1093/2517] |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
Importer & distributor of dyestuff & chemical products |
|
|
|
|
No. of Employees : |
100 |
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
TANG TIHUA HENG
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 141
RAMA 2 ROAD,
CHOMTHONG,
BANGKOK 10150,
THAILAND
TELEPHONE : [66] 2427-0096,
2428-7762, 2427-8612, 2874-2003-9
FAX :
[66] 2427-8615-6
E-MAIL
ADDRESS : tthh@loxinfo.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1974
REGISTRATION
NO. : 0105517010821 [Former : 1093/2517]
TAX
ID NO. : 3101015911
CAPITAL REGISTERED : BHT. 60,000,000
CAPITAL PAID-UP : BHT.
60,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PONGMIT CHERNVIRIYAKUL, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 100
LINES
OF BUSINESS : DYESTUFF &
CHEMICAL PRODUCTS
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 September
24, 1974 as
a private limited
company under the
name style TANG
TIHUA HENG COMPANY
LIMITED by Thai
groups, in order to distribute industrial chemicals to local
industries. It currently
employs approximately 100
staff.
The subject received
the International Standard
ISO 9001 : 2000 by
AJA on September
24, 2003.
The subject’s registered
address was initially
located at 455
Moo 3, Rama 2 Rd., Chomthong, Bangkok
10150.
On September 28,
2009, the subject’s
registered address was
changed from “455
Moo 3” to “141” by
the Chomthong District
Office, actually both
are the same location. This
is also the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pongmit Chernviriyakul |
|
Thai |
60 |
|
Mr. Somsak Chernviriyakul |
|
Thai |
58 |
|
Ms. Narumol Itti-anuwat |
|
Thai |
54 |
AUTHORIZED PERSON
Two of the
above directors can
jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pongmit Chernviriyakul is
the Managing Director.
He is Thai
nationality with the
age of 60
years old.
Mr. Somsak Chernviriyakul is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 58
years old.
Ms. Narumol Itti-anuwat is
the General Manager.
She is Thai
Nationality with the
age of 54
years old.
BUSINESS OPERATIONS
The subject’s activities are importer and distributor
of industrial chemicals
such as dyestuff, auxiliary,
pigments, solvents and
others for textile,
paper and tannery
industries. The products
are as follows:
- Dyestuff: direct,
direct fast, pigment,
reactive, fluorescent pigment,
disperse, acid, O.B.A.,
vat superfine, basic,
naphthol and sulphur.
- Textile
Auxiliary: sizing [Gohenol PVA], GH-17Y & various grades,
desizing, scouring, dyeing assistant such
as leveling, wetting, carrier,
softener, fixing, printing [thickening agent],
printing [binder,
special binder], resin
finishing.
- Basic chemical: H2O2 50%,
Soda Ash, caustic
soda, Sod. Persulphate, Sod. Hydrosulphite, Sod.
Bicarbonate, Trichlorolsocyanuric acid
65%, 90% and
etc.
IMPORT [COUNTRIES]
80% of the products is imported
from Japan, Spain, Germany, Republic of China, Singapore, India,
U.S.A., U.K., and
Taiwan, and the
remaining 20% is
purchased from local suppliers.
MAJOR SUPPLIERS
|
Name |
Country |
|
Nippon Gohsei |
: Japan |
|
Showa Kako Corporation |
: Japan |
|
Farbchemine Branuk AG. |
: Germany |
|
Freedom Chemical Diamalt |
: Germany |
|
Chorng Lung Machinery
Co., Ltd. |
: Taiwan |
|
Dow Chemical Thailand
Co., Ltd. |
: Thailand |
|
BAFS [Thai] Ltd. |
: Thailand |
|
Clariant Chemical Co.,
Ltd. |
: Thailand |
|
Cheinyee Chemical Industries
Ltd. |
: Taiwan |
|
ADI Asia Dyestuff
Industries Ltd. |
: Thailand |
|
Thai Intoma Co.,
Ltd. |
: Thailand |
|
Guangdong Zhongcheng Chemical
Ltd. |
: Republic of
China |
|
Shaoxing Sunday Textile & Chemical Co.,
Ltd. |
: Republic of
China |
SALES [LOCAL]
100% the products
is sold locally
to manufacturers, wholesalers
and end-users.
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
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.
BANKING
Bangkok Bank Public
Co., Ltd.
Krung Thai Bank
Public Co., Ltd.
EMPLOYMENT
The subject employs
approximately 100 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is
owned for administrative office
and warehouse at
the heading address
in a 4 storey building of 1 row shop
houses. Premise is
located in commercial/residential area.
COMMENT
The subject’s
sales revenues in
2011 was slightly
decreased comparing to the
previous year due to economic
uncertainty and massive floods
in the last
quarter of 2011. However, industrial
improvement has seen since
the first quarter
of 2012 resulted
to increase consumption
of industrial chemicals.
The subject anticipates
an increase its
sales revenues for
the first four months
of this year.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided into 1,000
shares of Bht. 1,000
each.
The capital was
increased later as following:
Bht. 4,000,000
on August 5,
1976
Bht. 12,000,000
on April 15,
1980
Bht. 32,000,000
on July 29,
1983
Bht. 60,000,000
on August 20,
1992
The latest registered
capital was increased
to Bht. 60,000,000 divided
into 60,000 shares
of Bht. 1,000
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pongmit Chernviriyakul Nationality: Thai Address : 46/110 Moo 9, Bangmod, Chomthong,
Bangkok |
19,900 |
33.17 |
|
Mr. Somsak Chernviriyakul Nationality: Thai Address : 141 Moo 3, Rama 2, Chomthong,
Bangkok |
19,900 |
33.17 |
|
Mr. Porametr Chernviriyakul Nationality: Thai Address : 665, 665/1 Moo 11, Bangpakok, Rajburana,
Bangkok |
19,900 |
33.17 |
|
Ms. Rattiya Kor-anurak Nationality: Thai Address : 173 Tavaravadee Rd., Huayjorakhe,
Muang, Nakornpathom |
100 |
|
|
Ms. Saifon Pongtheekayu Nationality: Thai Address : 28/45 Moo 8, Bangmod, Chomthong,
Bangkok |
100 |
= 0.49 |
|
Ms. Narumol Itti-anuwat Nationality: Thai Address : 665, 665/1 Moo 11, Bangpakok, Rajburana, Bangkok |
100 |
|
Total Shareholders : 6
Share Structure [as
at April 30,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
60,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
60,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Viroon Charoensantiphap No.
5717
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 |
21,534,039.76 |
22,240,963.74 |
13,739,938.23 |
|
Trade Accounts Receivable |
60,471,491.94 |
73,853,501.88 |
88,391,021.19 |
|
Inventories |
50,831,241.43 |
50,999,952.45 |
50,847,359.70 |
|
Other Current Assets |
817,558.39 |
502,638.96 |
526,512.04 |
|
|
|
|
|
|
Total Current Assets
|
133,654,331.52 |
147,597,057.03 |
153,504,831.16 |
|
Cash at Bank
under Commitment |
672,342.68 |
668,043.82 |
661,495.00 |
|
Fixed Assets |
15,842,691.52 |
18,808,392.78 |
19,700,753.72 |
|
Other Non-current Assets |
135,300.00 |
135,300.00 |
122,700.00 |
|
Total Assets |
150,304,665.72 |
167,208,793.63 |
173,989,779.88 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts Payable |
22,843,768.30 |
23,810,669.94 |
24,712,136.63 |
|
Accrued Expenses |
41,319.97 |
43,629.00 |
8,843,040.00 |
|
Accrued Income Tax |
934,852.63 |
854,691.25 |
1,511,289.51 |
|
Other Current Liabilities |
304,357.22 |
1,016,727.85 |
90,506.06 |
|
|
|
|
|
|
Total Current Liabilities |
24,124,298.12 |
25,725,718.04 |
35,156,972.20 |
|
Total Liabilities |
24,124,298.12 |
25,725,718.04 |
35,156,972.20 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 60,000 shares |
60,000,000.00 |
60,000,000.00 |
60,000,000.00 |
|
|
|
|
|
|
Capital Paid |
60,000,000.00 |
60,000,000.00 |
60,000,000.00 |
|
Retained Earning Appropriated for Statutory Reserve |
6,000,000.00 |
- |
- |
|
Unappropriated |
60,180,367.60 |
81,483,075.59 |
78,832,807.68 |
|
Total Shareholders' Equity |
126,180,367.60 |
141,483,078.59 |
138,832,807.68 |
|
Total Liabilities & Shareholders' Equity |
150,304,665.72 |
167,208,793.63 |
173,989,779.88 |
PROFIT & LOSS
ACCOUNT
|
Sale |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales |
175,676,746.28 |
190,297,870.84 |
197,565,723.00 |
|
Other Income |
354,957.50 |
375,553.77 |
163,604.49 |
|
Total Sales |
176,031,703.78 |
190,673,424.61 |
197,729,327.49 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
134,816,491.61 |
149,219,029.01 |
144,303,529.10 |
|
Selling Expenses |
2,540,914.08 |
2,827,590.30 |
5,043,215.60 |
|
Administrative Expenses |
34,360,254.64 |
34,332,482.00 |
41,788,527.60 |
|
Total Expenses |
171,717,660.33 |
186,379,101.31 |
191,135,272.30 |
|
|
|
|
|
|
Profit / [Loss] Before Financial Cost & Income Tax |
4,314,043.45 |
4,294,323.30 |
6,594,055.19 |
|
Financial Cost |
[111,898.81] |
[99,364.14] |
[432,929.95] |
|
|
|
|
|
|
Profit / [Loss] Before Income
Tax |
4,202,144.64 |
4,194,959.16 |
6,161,125.24 |
|
Income Tax |
[1,504,852.63] |
[1,544,691.25] |
[2,298,789.51] |
|
Net Profit / [Loss] |
2,697,292.01 |
2,650,267.91 |
3,862,335.73 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.54 |
5.74 |
4.37 |
|
QUICK RATIO |
TIMES |
3.40 |
3.74 |
2.90 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
11.09 |
10.12 |
10.03 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.17 |
1.14 |
1.14 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
137.62 |
124.75 |
128.61 |
|
INVENTORY TURNOVER |
TIMES |
2.65 |
2.93 |
2.84 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
125.64 |
141.65 |
163.30 |
|
RECEIVABLES TURNOVER |
TIMES |
2.91 |
2.58 |
2.24 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
61.85 |
58.24 |
62.51 |
|
CASH CONVERSION CYCLE |
DAYS |
201.41 |
208.16 |
229.41 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
76.74 |
78.41 |
73.04 |
|
SELLING & ADMINISTRATION |
% |
21.01 |
19.53 |
23.70 |
|
INTEREST |
% |
0.06 |
0.05 |
0.22 |
|
GROSS PROFIT MARGIN |
% |
23.46 |
21.78 |
27.04 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.46 |
2.26 |
3.34 |
|
NET PROFIT MARGIN |
% |
1.54 |
1.39 |
1.95 |
|
RETURN ON EQUITY |
% |
2.14 |
1.87 |
2.78 |
|
RETURN ON ASSET |
% |
1.79 |
1.59 |
2.22 |
|
EARNING PER SHARE |
BAHT |
44.95 |
44.17 |
64.37 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.16 |
0.15 |
0.20 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.19 |
0.18 |
0.25 |
|
TIME INTEREST EARNED |
TIMES |
38.55 |
43.22 |
15.23 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(7.68) |
(3.68) |
|
|
OPERATING PROFIT |
% |
0.46 |
(34.88) |
|
|
NET PROFIT |
% |
1.77 |
(31.38) |
|
|
FIXED ASSETS |
% |
(15.77) |
(4.53) |
|
|
TOTAL ASSETS |
% |
(10.11) |
(3.90) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -7.68%. Turnover has decreased from THB
190,297,870.84 in 2010 to THB 175,676,746.28 in 2011. While net profit has
increased from THB 2,650,267.91 in 2010 to THB 2,697,292.01 in 2011. And total
assets has decreased from THB 167,208,793.63 in 2010 to THB 150,304,665.72 in
2011.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
23.46 |
Impressive |
Industrial
Average |
12.07 |
|
Net Profit Margin |
1.54 |
Satisfactory |
Industrial
Average |
1.82 |
|
Return on Assets |
1.79 |
Deteriorated |
Industrial
Average |
4.28 |
|
Return on Equity |
2.14 |
Deteriorated |
Industrial
Average |
11.66 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from sales 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 23.46%. 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 1.54%.
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 1.79%.
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 2.14%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
5.54 |
Impressive |
Industrial
Average |
1.50 |
|
Quick Ratio |
3.40 |
|
|
|
|
Cash Conversion Cycle |
201.41 |
|
|
|
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 5.54 times in 2011, decreased from 5.74 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 3.4 times in 2011,
decreased from 3.74 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 202 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.16 |
Impressive |
Industrial
Average |
0.58 |
|
Debt to Equity Ratio |
0.19 |
Impressive |
Industrial
Average |
1.51 |
|
Times Interest Earned |
38.55 |
Impressive |
Industrial
Average |
3.36 |
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 38.56 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 0.16 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 Uptrend
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
11.09 |
Impressive |
Industrial
Average |
10.00 |
|
Total Assets Turnover |
1.17 |
Acceptable |
Industrial
Average |
2.32 |
|
Inventory Conversion Period |
137.62 |
|
|
|
|
Inventory Turnover |
2.65 |
Deteriorated |
Industrial
Average |
6.90 |
|
Receivables Conversion Period |
125.64 |
|
|
|
|
Receivables Turnover |
2.91 |
Acceptable |
Industrial
Average |
4.46 |
|
Payables Conversion Period |
61.85 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.91 and 2.58 in
2011 and 2010 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate sale. 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 125 days at the
end of 2010 to 138 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 2.93 times in year 2010 to 2.65 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.17 times and 1.14
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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
UK Pound |
1 |
Rs.84.09 |
|
Euro |
1 |
Rs.71.67 |
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.