MIRA INFORM REPORT
|
Report Date : |
07.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDIAMCO LTD. |
|
|
|
|
Registered Office : |
24th Floor, Jewelry Trade Center Building, 919/312 Silom Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
13.12.1996 |
|
|
|
|
Com. Reg. No.: |
0105539135210 [Former :
2479/2539] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Distributor and Exporter of Diamond and Precious Stones. |
|
|
|
|
No. of Employees : |
5 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Poor |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 crisis 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 and Address
INDIAMCO LTD.
SUMMARY
BUSINESS
ADDRESS : 24th FLOOR,
JEWELRY TRADE CENTER
BUILDING,
919/312 SILOM
ROAD, SILOM, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2630-0120-2,
081 821-3912
FAX :
[66] 2630-0122
E-MAIL
ADDRESS : indiamco@asiaaccess.net.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1996
REGISTRATION
NO. : 0105539135210 [Former : 2479/2539]
TAX
ID NO. : 3011798027
CAPITAL REGISTERED : BHT. 23,000,000
CAPITAL PAID-UP : BHT.
23,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN : 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. NITIN RAJENDRA
PRASAD JIAN, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 5
LINES
OF BUSINESS : DIAMOND AND
PRECIOUS STONES
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on December 13,
1996 as a
private limited company
under the name
style INDIAMCO LTD.,
by Thai and Indian
groups, with the
business objective to
import and distribute
diamonds and precious
stones to domestic
and overseas markets.
It currently employs
5 staff.
The
subject’s registered address
was initially located
at 297 Wanglee
Bldg., Surawong Rd.,
Suriyawongse, Bangrak, Bangkok
10500.
On
November 13, 2006,
it was relocated
to 24th Flr.,
Jewelry Trade Center
Bldg., 919/312 Silom Rd., Silom,
Bangrak, Bangkok 10500,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTORS
Mr. Nitin Rajendra
Prasad Jian
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Nitin Rajendra Prasad
Jian is the
Managing Director.
He is Indian
nationality with the
age of 42
years old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing, re-exporting and
exporting wide range
of diamonds and
precious stones for
jewelry industry.
PURCHASE
90% of the
products is imported
from India, Republic
of China, South
Africa and Belgium,
the remaining 10%
is purchased from
local supplier.
MAJOR SUPPLIER
Living Stone Diamond
Co., Ltd.: Thailand
SALES
85% of the
products is sold
locally by wholesale to
dealers and manufacturers, the
remaining 15% is exported
and re-exported to
Hong Kong, Japan Republic
of China, U.S.A.,
Korea and European
countries.
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
according to 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 5 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
COMMENT
The
subject is engaged
in importing, distributing
and exporting diamonds and
gemstones to both
local and overseas
jewelry market. Sales were slow in
the previous year
due to shrinking domestic
purchasing power. Subject’s business in the
year 2013 is
also slow.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht. 100
each.
The
capital was increased
later as following:
Bht. 4,000,000
on August 4,
1997
Bht. 11,000,000
on December 6,
2000
Bht. 23,000,000
on December 18,
2001
The
latest registered capital
was increased to
Bht. 23,000,000 divided into
230,000 shares of
Bht. 100 each with fully paid.
THE SHAREHOLDERS LISTED WERE
[as
at April 30,
2011]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Nitin Rajendra Prasad
Jian Nationality: Indian Address : 919/312
Silom Rd., Silom, Bangrak, Bangkok |
112,000 |
48.70 |
|
Mr. Sommai Saetia Nationality: Thai Address : 8/679
Moo 2, Bangchak,
Prakanong, Bangkok |
30,300 |
13.17 |
|
Mr. Pratuan Pakdeesuk Nationality: Thai Address : 8
Moo 3, Harhae, Karnvoralakburi,
Kampaengpetch |
29,000 |
12.61 |
|
Mr. Prasert Langsanti Nationality: Thai Address : 283
Asoke-Dindaeng Rd., Samsennai,
Phyathai, Bangkok |
29,000 |
12.61 |
|
Mrs. Sumalee Langsanti Nationality: Thai Address : 283
Asoke-Dindaeng Rd., Samsennai,
Phyathai, Bangkok |
29,000 |
12.61 |
|
Mrs. Vinida Kotharee Nationality: Indian Address : 919/312
Silom Rd., Silom,
Bangrak, Bangkok |
400 |
0.17 |
|
Mr. Alok Rajendra Prasad
Jian Nationality: Indian Address : 919/312
Silom Rd., Silom,
Bangrak, Bangkok |
300 |
0.13 |
Total Shareholders :
7
Share Structure [as
at April 30,
2011]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
117,300 |
51.00 |
|
Foreign - Indian |
3 |
112,700 |
49.00 |
|
Total |
7 |
230,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Manit Nilprapa No.
4055
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
6,023,404.38 |
7,170,033.55 |
2,566,513.58 |
|
Trade Account & Other
Receivable |
53,106,878.42 |
49,492,136.32 |
39,395,874.64 |
|
Inventories |
31,509,846.93 |
16,636,982.00 |
12,544,002.82 |
|
Other Current Assets
|
- |
- |
333,354.12 |
|
|
|
|
|
|
Total Current Assets
|
90,640,129.73 |
73,299,151.87 |
54,839,745.16 |
|
Fixed Assets |
362,806.65 |
454,552.57 |
522,694.26 |
|
Other Non-current Assets |
34,500.00 |
34,500.00 |
34,500.00 |
|
Total Assets |
91,037,436.38 |
73,788,204.44 |
55,396,939.42 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Account Payable |
20,866,849.70 |
26,568,550.11 |
2,170,729.46 |
|
Bank Overdraft & Short-term
Loan from Financial Institutions |
- |
- |
3,167,225.49 |
|
Short-term Loan from
Person or Related Company |
40,000,000.00 |
16,000,000.00 |
18,000,000.00 |
|
Accrued Income Tax |
43,841.38 |
385,366.34 |
600,949.89 |
|
Other Current Liabilities |
190,419.47 |
369,197.80 |
463,383.60 |
|
|
|
|
|
|
Total Current Liabilities |
61,101,110.55 |
43,323,114.25 |
24,402,288.44 |
|
|
|
|
|
|
Total Liabilities |
61,101,110.55 |
43,323,114.25 |
24,402,288.44 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 230,000 shares |
23,000,000.00 |
23,000,000.00 |
23,000,000.00 |
|
|
|
|
|
|
Capital Paid |
23,000,000.00 |
23,000,000.00 |
23,000,000.00 |
|
Retained Earnings - Unappropriated
|
6,936,325.83 |
7,465,090.19 |
7,994,650.98 |
|
Total Shareholders' Equity |
29,936,325.83 |
30,465,090.19 |
30,994,650.98 |
|
Total Liabilities & Shareholders' Equity |
91,037,436.38 |
73,788,204.44 |
55,396,939.42 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales - Domestic |
52,741,360.17 |
83,670,065.02 |
79,682,167.08 |
|
Sales - Export |
32,744,238.35 |
48,253,691.52 |
34,506,649.74 |
|
Other Income |
1,659,388.54 |
2,304,457.27 |
4,732,412.59 |
|
Total Revenues |
87,144,987.06 |
134,228,213.81 |
118,921,229.41 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Change in Finished Goods |
[14,872,864.93] |
[4,092,979.18] |
[915,630.12] |
|
Purchase of Goods |
97,237,108.60 |
132,738,878.84 |
112,951,744.72 |
|
Employees Expenses |
1,564,000.00 |
1,705,440.00 |
1,989,500.00 |
|
Vehicle & Transportation Expenses |
386,500.00 |
379,500.00 |
503,400.00 |
|
Depreciation and Amortization |
91,745.92 |
108,795.90 |
130,648.55 |
|
Other Expenses |
2,776,617.76 |
2,970,136.55 |
2,263,361.39 |
|
Total Expenses |
87,183,107.35 |
133,809,772.11 |
116,923,024.54 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income
Tax |
[38,120.29] |
418,441.70 |
1,998,204.87 |
|
Financial Cost |
[43,523.23] |
[149,906.10] |
[103,602.85] |
|
Profit / [Loss] before Income
Tax |
[81,643.52] |
268,535.60 |
1,894,602.02 |
|
Income Tax |
[447,120.84] |
[798,096.39] |
[600,949.89] |
|
Net Profit / [Loss] |
[528,764.36] |
[529,560.79] |
1,293,652.13 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.48 |
1.69 |
2.25 |
|
QUICK RATIO |
TIMES |
0.97 |
1.31 |
1.72 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
235.62 |
290.23 |
218.46 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.94 |
1.79 |
2.06 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
118.28 |
45.75 |
40.54 |
|
INVENTORY TURNOVER |
TIMES |
3.09 |
7.98 |
9.00 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
226.75 |
136.93 |
125.93 |
|
RECEIVABLES TURNOVER |
TIMES |
1.61 |
2.67 |
2.90 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
78.33 |
73.06 |
7.01 |
|
CASH CONVERSION CYCLE |
DAYS |
266.70 |
109.62 |
159.45 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
113.75 |
100.62 |
98.92 |
|
SELLING & ADMINISTRATION |
% |
2.39 |
1.66 |
2.30 |
|
INTEREST |
% |
0.05 |
0.11 |
0.09 |
|
GROSS PROFIT MARGIN |
% |
(11.81) |
1.13 |
5.23 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(0.04) |
0.32 |
1.75 |
|
NET PROFIT MARGIN |
% |
(0.62) |
(0.40) |
1.13 |
|
RETURN ON EQUITY |
% |
(1.77) |
(1.74) |
4.17 |
|
RETURN ON ASSET |
% |
(0.58) |
(0.72) |
2.34 |
|
EARNING PER SHARE |
BAHT |
(2.30) |
(2.30) |
5.62 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.67 |
0.59 |
0.44 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.04 |
1.42 |
0.79 |
|
TIME INTEREST EARNED |
TIMES |
(0.88) |
2.79 |
19.29 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(35.20) |
15.53 |
|
|
OPERATING PROFIT |
% |
(109.11) |
(79.06) |
|
|
NET PROFIT |
% |
0.15 |
(140.94) |
|
|
FIXED ASSETS |
% |
(20.18) |
(13.04) |
|
|
TOTAL ASSETS |
% |
23.38 |
33.20 |
|
ANNUAL GROWTH: ACCEPTABLE
An annual sales growth is -35.2%. Turnover has decreased from THB
131,923,756.54 in 2011 to THB 85,485,598.52 in 2012. While net profit has
increased from THB -529,560.79 in 2011 to THB -528,764.36 in 2012. And total assets
has increased from THB 73,788,204.44 in 2011 to THB 91,037,436.38 in 2012.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
(11.81) |
Deteriorated |
Industrial Average |
1.88 |
|
Net Profit Margin |
(0.62) |
Deteriorated |
Industrial Average |
0.04 |
|
Return on Assets |
(0.58) |
Deteriorated |
Industrial Average |
0.43 |
|
Return on Equity |
(1.77) |
Deteriorated |
Industrial Average |
1.93 |
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 -11.81%. 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 -0.62%.
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 -0.58%.
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 -1.77%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.48 |
Satisfactory |
Industrial Average |
1.72 |
|
Quick Ratio |
0.97 |
|
|
|
|
Cash Conversion Cycle |
266.70 |
|
|
|
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 1.48 times in 2012, decreased from 1.69 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 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 0.97 times in 2012,
decreased from 1.31 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 267 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.67 |
Impressive |
Industrial Average |
0.76 |
|
Debt to Equity Ratio |
2.04 |
Satisfactory |
Industrial Average |
3.41 |
|
Times Interest Earned |
(0.88) |
Risky |
Industrial Average |
0.28 |
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 -0.88 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 0.67 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 Uptrend
Times Interest Earned Downtrend
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
235.62 |
Impressive |
Industrial Average |
2.53 |
|
Total Assets Turnover |
0.94 |
Deteriorated |
Industrial Average |
14.17 |
|
Inventory Conversion Period |
118.28 |
|
|
|
|
Inventory Turnover |
3.09 |
Deteriorated |
Industrial Average |
43.91 |
|
Receivables Conversion Period |
226.75 |
|
|
|
|
Receivables Turnover |
1.61 |
Deteriorated |
Industrial Average |
18.17 |
|
Payables Conversion Period |
78.33 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.61 and 2.67 in
2012 and 2011 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 2012
decreased from 2011. 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 increased from 46 days at the
end of 2011 to 118 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 7.98 times in year 2011 to 3.09 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.94 times and 1.79
times in 2012 and 2011 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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.92 |
|
|
1 |
Rs.99.60 |
|
Euro |
1 |
Rs.83.64 |
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.