MIRA INFORM REPORT
|
Report Date : |
26.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
THAI PLASTIC FILM CO., LTD |
|
|
|
|
Registered Office : |
27th Floor, TPI Tower, 26/56 New Chan Road, Thungmahamek, Sathorn, Bangkok 10120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
30.09.2012 |
|
|
|
|
Date of Incorporation : |
03.08.1989 |
|
|
|
|
Com. Reg. No.: |
0105532071178 [Former
: 7117/2532] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and Exporter of Plastic Films. |
|
|
|
|
No. of Employees : |
170 |
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 : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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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
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
THAI
PLASTIC FILM CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 27th FLOOR,
TPI TOWER, 26/56
NEW CHAN ROAD,
THUNGMAHAMEK, SATHORN,
BANGKOK 10120,
THAILAND
TELEPHONE : [66] 2678-6988-97
FAX :
[66] 2678-6998-9
E-MAIL
ADDRESS : teeraphatd@gmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1989
REGISTRATION
NO. : 0105532071178 [Former
: 7117/2532]
TAX
ID NO. : 3101730425
CAPITAL REGISTERED : BHT. 40,000,000
CAPITAL PAID-UP : BHT.
40,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : SEPTEMBER 30
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PRAYAD LIEWPAIRAT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 170
LINES
OF BUSINESS : PLASTIC FILMS
MANUFACTURER,
DISTRIBUTOR AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on August 3,
1989 as a
private limited company under
the name style
THAI PLASTIC FILM CO., LTD.,
by Thai groups.
Its business objective
is to manufacture
plastic film for
both domestic and
export markets. It currently
employs approximately 170
staff.
The
subject is a
wholly owned subsidiary
of United Grain
Industry Co., Ltd.
The
subject’s registered address
is 27th Flr., TPI Tower,
26/56 New Chan
Rd., Thungmahamek, Sathorn,
Bangkok 10120, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Prachai Liewpairat |
|
Thai |
69 |
|
Mr. Chawin Eiamsopana |
|
Thai |
71 |
|
Mr. Prateep Liewpairat |
|
Thai |
76 |
|
Mr. Prayad Liewpairat |
|
Thai |
62 |
|
Mr. Pramual Liewpairat |
|
Thai |
64 |
|
Ms. Malinee Liewpairat |
|
Thai |
70 |
|
Mrs. Orapin Liewpairat |
|
Thai |
66 |
|
Mrs. Yuwadee Liewpairat |
|
Thai |
64 |
|
Mrs. Punnee Liewpairat |
|
Thai |
55 |
|
Ms. Nithawan Liewpairat |
|
Thai |
33 |
|
Mr. Pakapol Liewpairat |
|
Thai |
29 |
|
Mr. Thanakorn Liewpairat |
|
Thai |
27 |
|
Mr. Pakorn Liewpairat |
|
Thai |
33 |
|
Ms. Patraphan Liewpairat |
|
Thai |
33 |
|
Mrs. Achira Chatdarong |
|
Thai |
34 |
|
Ms. Chutinan Liewpairat |
|
Thai |
26 |
AUTHORIZED
PERSON
Any two of the
above directors can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Prayad Liewpairat is
the Managing Director.
He is Thai
nationality with the
age of 62
years old.
Mr. Anan Anantanark is
the Factory Manager.
He is Thai
nationality.
Mr. Vithan Techakomol is
the Sales & Marketing Manager.
He is Thai
nationality.
Mr. Teeraphatd Donwittayakhun is
the Assistant Sales
Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in manufacturing, distributing
and exporting plastic films, specialized in cover bag plastic film, shrink
film LDPE and
stretch film for
food packaging, agricultural
purposes and etc.
PRODUCTION CAPACITY
4,800 tons per
annum
PURCHASE
Most of raw
materials are purchased
from local suppliers,
the remaining is
imported from Taiwan,
Japan and Germany.
SALES
80% of the
products is sold
locally to wholesalers
and end-users, the
remaining 20% is
exported to Japan,
Hong Kong, Republic
of China, Indonesia,
Singapore, U.S.A., and
the country in
Europe.
MAJOR CUSTOMER
Temkin International Inc. : U.S.A.
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
T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
170 staff.
LOCATION
DETAILS
The premise
is rented for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Factory
and warehouse are
located at 7/7
Moo 1, Pichaironarongsongkram Road,
T. Suandokmai, A. Saohai, Saraburi
18160.
COMMENT
Local consumption of plastic
films in various types for industrial users
has grown steadily. The subject’s sales was
strong from demand of
industrial users such
as foods, packaging
and agriculture. Subject
sustains its good
business and expanding
steadily.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 40,000,000 divided into
400,000 shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
January 24, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
United Grain Industry
Co., Ltd. Nationality: Thai Address : 26/56
TPI Tower, New
Chan Rd.,
Thungmahamek, Sathorn, Bangkok
10120 |
399,993 |
100.00 |
|
Mrs. Orapin Liewpairat Nationality: Thai Address : 229/14
Sukhumvit 49 Rd.,
Klongtonnua,
Wattana, Bangkok |
1 |
- |
|
Mr. Prachai Liewpairat Nationality: Thai Address : 299
Moo 5, T. Thabkwang, A. Kaengkoi, Saraburi |
1 |
- |
|
Mr. Chawin Eiamsopana Nationality: Thai Address : 143
Sukhumvit 49 Rd.,
Klongtonnua,
Wattana, Bangkok |
1 |
- |
|
Mr. Prayad Liewpairat Nationality: Thai Address : 211
Sukhumvit 49 Rd.,
Klongtonnua, Wattana, Bangkok |
1 |
- |
|
Mr. Prateep Liewpairat Nationality: Thai Address : 211
Sukhumvit 49 Rd.,
Klongtonnua,
Wattana, Bangkok |
1 |
- |
|
Mr. Pramual Liewpairat Nationality: Thai Address : 233/9
Choengnern, Muang, Rayong |
1 |
- |
|
Ms. Malinee Liewpairat Nationality: Thai Address : 175-177
Surawong Rd., Suriyawongse,
Bangrak, Bangkok |
1 |
- |
Total Shareholders : 8
Share Structure [as
at January 24,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
400,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
400,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Kanittha Zorsrisakorn No.
6444
BALANCE
SHEET [BAHT]
The
latest financial figures
published for September
30, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalent |
67,690,245.42 |
44,799,069.40 |
42,408,953.25 |
|
Trade Accounts Receivable |
201,808,464.22 |
68,367,330.32 |
33,704,172.98 |
|
Notes Receivable |
- |
- |
1,556,990.45 |
|
Inventories |
84,630,035.41 |
88,648,828.61 |
63,415,267.45 |
|
Other Current Assets |
55,085.35 |
1,437,890.63 |
1,101,610.11 |
|
|
|
|
|
|
Total Current Assets
|
354,183,830.40 |
203,253,118.96 |
142,186,994.24 |
|
Fixed Assets |
1,169,091.82 |
2,307,870.90 |
2,791,698.13 |
|
Government Bond |
2,347,463.69 |
2,374,585.15 |
2,401,632.51 |
|
Other Non-current Assets
|
253,200.00 |
253,200.00 |
628,770.00 |
|
Total Assets |
357,953,585.91 |
208,188,775.01 |
148,009,094.88 |
LIABILITIES
& SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts &
Other Payable |
298,287,453.75 |
167,918,720.34 |
102,143,855.66 |
|
Accrued Income Tax |
- |
- |
2,210,094.09 |
|
Other Current Liabilities |
77,231.95 |
87,789.30 |
3,847,058.03 |
|
|
|
|
|
|
Total Current Liabilities |
298,364,685.70 |
168,006,509.64 |
108,201,007.78 |
|
Total Liabilities |
298,364,685.70 |
168,006,509.64 |
108,201,007.78 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 400,000 shares |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
|
|
|
|
|
Capital Paid |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
Retained Earning-
Unappropriated |
19,588,900.21 |
182,265.37 |
[191,912.90] |
|
Total Shareholders' Equity |
59,588,900.21 |
40,182,265.37 |
39,808,087.10 |
|
Total Liabilities &
Shareholders' Equity |
357,953,585.91 |
208,188,775.01 |
148,009,094.88 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
443,190,141.03 |
248,133,955.38 |
370,485,192.46 |
|
Other Income |
1,023,219.21 |
595,183.82 |
1,286,905.96 |
|
Total Revenues |
444,213,360.24 |
248,729,139.20 |
371,772,098.42 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
411,209,119.16 |
242,827,854.74 |
354,182,709.73 |
|
Selling Expenses |
807,581.86 |
778,940.24 |
411,136.50 |
|
Administrative Expenses |
4,556,207.60 |
4,573,929.75 |
4,702,721.91 |
|
Total Expenses |
416,572,908.62 |
248,180,724.73 |
359,296,568.14 |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
27,640,451.62 |
548,414.47 |
12,475,530.28 |
|
Income Tax |
[8,233,816.78] |
[174,236.20] |
[3,743,653.86] |
|
|
|
|
|
|
Net Profit / [Loss] |
19,406,634.84 |
374,178.27 |
8,731,876.42 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.19 |
1.21 |
1.31 |
|
QUICK RATIO |
TIMES |
0.90 |
0.67 |
0.72 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
379.09 |
107.52 |
132.71 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.24 |
1.19 |
2.50 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
75.12 |
133.25 |
65.35 |
|
INVENTORY TURNOVER |
TIMES |
4.86 |
2.74 |
5.59 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
166.20 |
100.57 |
33.21 |
|
RECEIVABLES TURNOVER |
TIMES |
2.20 |
3.63 |
10.99 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
264.77 |
252.40 |
105.26 |
|
CASH CONVERSION CYCLE |
DAYS |
(23.44) |
(18.59) |
(6.71) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.78 |
97.86 |
95.60 |
|
SELLING & ADMINISTRATION |
% |
1.21 |
2.16 |
1.38 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
7.45 |
2.38 |
4.75 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.24 |
0.22 |
3.37 |
|
NET PROFIT MARGIN |
% |
4.38 |
0.15 |
2.36 |
|
RETURN ON EQUITY |
% |
32.57 |
0.93 |
21.93 |
|
RETURN ON ASSET |
% |
5.42 |
0.18 |
5.90 |
|
EARNING PER SHARE |
BAHT |
48.52 |
0.94 |
21.83 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.83 |
0.81 |
0.73 |
|
DEBT TO EQUITY RATIO |
TIMES |
5.01 |
4.18 |
2.72 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
78.61 |
(33.02) |
|
|
OPERATING PROFIT |
% |
4,940.07 |
(95.60) |
|
|
NET PROFIT |
% |
5,086.47 |
(95.71) |
|
|
FIXED ASSETS |
% |
(49.34) |
(17.33) |
|
|
TOTAL ASSETS |
% |
71.94 |
40.66 |
|
ANNUALGROWTH:
IMPRESSIVE
An annual sales growth is 78.61%. Turnover has increased from THB
248,133,955.38 in 2011 to THB 443,190,141.03 in 2012. While net profit has increased
from THB 374,178.27 in 2011 to THB 19,406,634.84 in 2012. And total assets has
increased from THB 208,188,775.01 in 2011 to THB 357,953,585.91 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.45 |
Impressive |
Industrial Average |
4.66 |
|
Net Profit Margin |
4.38 |
Impressive |
Industrial Average |
2.41 |
|
Return on Assets |
5.42 |
Impressive |
Industrial Average |
4.66 |
|
Return on Equity |
32.57 |
Impressive |
Industrial Average |
11.75 |
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 7.45%. 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 4.38%, higher figure when
compared with those of its average competitors in the same industry, indicated
that business was an efficient operator
in a dominant position within its industry.
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
5.42%, 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. Return on Equity ratio
is 32.57%, 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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.19 |
Impressive |
Industrial Average |
0.88 |
|
Quick Ratio |
0.90 |
|
|
|
|
Cash Conversion Cycle |
(23.44) |
|
|
|
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 1.19 times in 2012, decreased from 1.21 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 0.9 times in 2012,
increased from 0.67 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 -24 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.83 |
Acceptable |
Industrial Average |
0.66 |
|
Debt to Equity Ratio |
5.01 |
Risky |
Industrial Average |
1.92 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.83 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 |
379.09 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.24 |
Acceptable |
Industrial Average |
1.93 |
|
Inventory Conversion Period |
75.12 |
|
|
|
|
Inventory Turnover |
4.86 |
Deteriorated |
Industrial Average |
9.78 |
|
Receivables Conversion Period |
166.20 |
|
|
|
|
Receivables Turnover |
2.20 |
Acceptable |
Industrial Average |
3.20 |
|
Payables Conversion Period |
264.77 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.20 and 3.63 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 decreased from 133 days at the
end of 2011 to 75 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 2.74 times in year 2011 to 4.86 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.24 times and 1.19
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.70 |
|
|
1 |
Rs.100.27 |
|
Euro |
1 |
Rs.84.46 |
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.