MIRA INFORM REPORT
|
Report Date : |
14.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SANCO FOODS
[THAILAND] LTD. |
|
|
|
|
Formerly Known As : |
CETES [THAILAND] LTD |
|
|
|
|
Registered Office : |
100 Soi
Srinakarin 24, Srinakarin
Road, Suanluang, Bangkok 10250 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.09.1992 |
|
|
|
|
Com. Reg. No.: |
0105535128120 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
subject is
engaged in international trading
business by importing, distributing and exporting wide
range of agro-foods
and food ingredients, fruits
and vegetables [aloe vera,
pineapple, coconut, mango and
papaya]. |
|
|
|
|
No. of Employees : |
15 |
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
SANCO FOODS [THAILAND] LTD.
SUMMARY
BUSINESS ADDRESS : 100
SOI SRINAKARIN 24,
SRINAKARIN ROAD,
SUANLUANG, BANGKOK 10250
TELEPHONE : [66] 2720-5800.
2721-3371-2
FAX : [66]
2721-5514
E-MAIL ADDRESS : info@sanco.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1992
REGISTRATION NO.
: 0105535128120
TAX ID NO. : 3011172223
CAPITAL REGISTERED : BHT. 2,804,000
CAPITAL PAID-UP
: BHT.
2,804,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING
DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SURAKIT KERDSONGKRAN, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 15
LINES OF
BUSINESS : INTERNATIONAL TRADING
COMPANY
IMPORTER, 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
September 14, 1992 as
a private limited
company under the
registered name “Cetes [Thailand]
Ltd.” originally by
Dutch groups. It was
a subsidiary of Van
Ommeren Ceteco group
of companies based
in Netherlands.
Since 1992,
the subject has
become 100% owned
by Thai group,
then its registered name
was changed to
SANCO FOODS [THAILAND]
LTD. on October
12, 1993. Its
business objective is
engaged in international
trading a wide
range of foods
and feed products.
It currently employs
15 staff.
ASSOCIATION
The Thai
Chamber of Commerce
Asian Vegetable
Oil Club
Thai Food
Processors’ Association
Thailand-Hong Kong
Business Council
Thailand-China Business
Council
Thailand National
Shipper’Council
The subject’s
registered address is
100 Soi Srinakarin
24, Srinakarin Road,
Suanluang, Bangkok 10250,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr.
Surakit Kerdsongkran |
[x] |
Thai |
51 |
|
Mrs.
Natwatra Kerdsongkran |
|
Thai |
52 |
|
Mrs.
Panaporn Praipiroonroj |
|
Thai |
68 |
AUTHORIZED PERSON
Only the
mentioned director [x]
signs or both
of the rest
directors can jointly
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Surakit Kerdsongkran
is the Managing
Director.
He is
Thai nationality with
the age of 51
years old.
BUSINESS OPERATIONS
The subject
is engaged in
international trading business
by importing, distributing
and exporting wide
range of agro-foods
and food ingredients,
fruits and vegetables [aloe vera,
pineapple, coconut, mango and
papaya]. The products
are included frozen
and canned aloe vera,
canned pineapple, canned
coconut milk, fruit
juice, canned coffee,
canned tuna, food
ingredients, vegetable fats & oils, as
well as animal
feed and pet
foods.
PURCHASE
The products
are purchased from
suppliers both domestic
and overseas, mainly
in India, Japan,
U.S.A., Republic of
China, Hong Kong
and the countries
in Europe.
SALES
The products
are sold to customers both
local and overseas,
mainly in Japan,
India, Hong Kong,
Vietnam, Indonesia, U.S.A
and the countries
in Europe.
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.
Exports are
against T/T.
BANKING
The banker’s
name was not
disclosed.
EMPLOYMENT
The subject
currently employs 15 staff.
LOCATION DETAILS
The premise
is owned for administrative office
at the heading
address. Premise is
located in commercial/residential area.
COMMENT
The subject
was formed in
1992 as a
general trading business.
Most of its
clients are wholesaler.
Subject’s business is related
to local consumption
which is currently
slow from economic
uncertainty. Its market
is likely to
slowdown from decline
consumption.
Its business
in 2013 is
expected to expanded
slowly from economic uncertainty.
FINANCIAL INFORMATION
The capital
was registered at Bht. 1,804,000 divided
into 1,804 shares
of Bht. 1,000
each.
On May
21, 1999, the
registered capital was
increased to Bht. 2,804,000 divided
into 2,804 shares
of Bht. 1,000 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 30,
2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Surakit Kerdsongkran Nationality: Thai Address :
102 Soi Anamai,
Suanluang, Bangkok |
1,190 |
42.44 |
|
Ms. Chintana Kerdsongkran Nationality: Thai Address :
100 Soi Anamai,
Suanluang, Bangkok |
536 |
19.11 |
|
Mrs.
Napaporn Praipiroonroj Nationality: Thai Address :
9/19 Moo 5,
Ladyao, Jatujak, Bangkok |
390 |
13.91 |
|
Mr. Phisanu Kerdsongkran Nationality: Thai Address :
102 Soi Anamai,
Suanluang, Bangkok |
384 |
13.69 |
|
Mrs. Nawatra Kerdsongkran Nationality: Thai Address :
369/531 Moo 3,
T. Bangpoomai, A. Muang, Samutprakarn |
286 |
10.20 |
|
Ms.
Pinyapatch Kerdsongkran Nationality: Thai Address :
369/531 Moo 3,
Bangpoomai, Muang, Samutprakarn |
8 |
0.29 |
|
Mr. Harit Kerdsongkran Nationality: Thai Address :
369/531 Moo 3,
T. Bangpoomai, A. Muang, Samutprakarn |
8 |
0.29 |
|
Ms. Non Srikoon Nationality: Thai Address :
53 Moo 11,
T. Kokkung, A. Muangsuang, Roi-ed |
2 |
0.07 |
Total Shareholders
: 8
Share Structure [as at
April
30, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
2,804 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
2,804 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mrs. Thanhatai Supakasem No. 5394
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 |
5,391,702.49 |
5,260,540.11 |
2,496,717.03 |
|
Short-term Investment |
207,350.00 |
207,350.00 |
207,350.00 |
|
Trade Accounts
& Other Receivable |
2,327,796.49 |
6,007,610.03 |
2,266,674.31 |
|
Inventories |
11,585,070.00 |
5,284,895.00 |
4,174,800.00 |
|
Other Current
Assets |
748,704.39 |
1,244,266.78 |
1,400,482.81 |
|
|
|
|
|
|
Total Current
Assets |
20,260,623.37 |
18,004,661.92 |
10,546,024.15 |
|
Long-term Lending
to Person or Related Company |
6,432,289.50 |
7,500,000.00 |
8,516,690.00 |
|
Fixed Assets |
5,902,806.29 |
6,205,521.37 |
3,978,854.31 |
|
Other Non-current
Assets |
1,744,888.46 |
1,764,929.45 |
1,352,235.45 |
|
Total Assets |
34,340,607.62 |
33,475,112.74 |
24,393,803.91 |
LIABILITIES & SHAREHOLDERS’ EQUITY
[BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts
& Other Payable |
2,055,163.86 |
3,624,425.89 |
3,874,125.83 |
|
Current Portion
of Long-term Loans |
608,082.68 |
565,105.37 |
525,051.62 |
|
Accrued Income
Tax |
903,255.78 |
2,412,415.37 |
55,658.69 |
|
Other Current
Liabilities |
61,450.95 |
109,567.70 |
31,560.97 |
|
|
|
|
|
|
Total Current
Liabilities |
3,627,953.27 |
6,711,514.33 |
4,486,397.11 |
|
Long-term Loan |
570,976.25 |
1,169,085.25 |
1,726,507.54 |
|
Total Liabilities |
4,198,929.52 |
7,880,599.58 |
6,212,904.65 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized,
issued and fully
paid
share capital 2,804 shares |
2,804,000.00 |
2,804,000.00 |
2,804,000.00 |
|
|
|
|
|
|
Capital Paid |
2,804,000.00 |
2,804,000.00 |
2,804,000.00 |
|
Retained
Earning - Unappropriated |
27,337,678.10 |
22,790,513.35 |
15,376,899.26 |
|
Total Shareholders' Equity |
30,141,678.10 |
25,594,513.35 |
18,180,899.26 |
|
Total Liabilities & Shareholders' Equity |
34,340,607.62 |
33,475,112.74 |
24,393,803.91 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
147,507,420.27 |
153,078,086.48 |
106,692,179.57 |
|
Gain on
Exchange Rate |
- |
- |
601,170.65 |
|
Gain on
Disposal of Assets |
- |
- |
516,066.37 |
|
Other Income |
4,061,415.17 |
3,606,582.53 |
1,922,619.78 |
|
Total Revenues |
151,568,835.44 |
156,684,669.01 |
109,732,036.37 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold &
Service |
123,307,695.89 |
124,318,782.61 |
87,343,300.33 |
|
Selling Expenses |
11,967,616.51 |
12,224,102.69 |
12,216,068.48 |
|
Administrative Expenses |
9,456,555.39 |
9,135,946.59 |
8,389,715.30 |
|
Other Expenses |
817,838.18 |
683,034.02 |
309,142.56 |
|
Total
Expenses |
145,549,705.97 |
146,361,865.91 |
108,258,226.67 |
|
|
|
|
|
|
Profit /
[Loss] before Financial Cost &
Income Tax |
6,019,129.47 |
10,322,803.10 |
1,473,809.70 |
|
Financial Costs |
[120,468.31] |
[209,584.08] |
[181,108.58] |
|
|
|
|
|
|
Profit /
[Loss] before Income
Tax |
5,899,661.16 |
10,113,219.02 |
1,292,701.12 |
|
Income Tax |
[1,351,496.41] |
[2,699,604.93] |
[200,135.63] |
|
|
|
|
|
|
Net Profit / [Loss] |
4,548,164.75 |
7,413,614.09 |
1,092,565.49 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.58 |
2.68 |
2.35 |
|
QUICK RATIO |
TIMES |
2.18 |
1.71 |
1.11 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS
TURNOVER |
TIMES |
24.99 |
24.67 |
26.81 |
|
TOTAL ASSETS
TURNOVER |
TIMES |
4.30 |
4.57 |
4.37 |
|
INVENTORY
CONVERSION PERIOD |
DAYS |
34.29 |
15.52 |
17.45 |
|
INVENTORY
TURNOVER |
TIMES |
10.64 |
23.52 |
20.92 |
|
RECEIVABLES
CONVERSION PERIOD |
DAYS |
5.76 |
14.32 |
7.75 |
|
RECEIVABLES
TURNOVER |
TIMES |
63.37 |
25.48 |
47.07 |
|
PAYABLES
CONVERSION PERIOD |
DAYS |
6.08 |
10.64 |
16.19 |
|
CASH CONVERSION
CYCLE |
DAYS |
33.97 |
19.20 |
9.01 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS
SOLD |
% |
83.59 |
81.21 |
81.86 |
|
SELLING & ADMINISTRATION |
% |
14.52 |
13.95 |
19.31 |
|
INTEREST |
% |
0.08 |
0.14 |
0.17 |
|
GROSS PROFIT
MARGIN |
% |
19.16 |
21.14 |
20.98 |
|
NET PROFIT
MARGIN BEFORE EX. ITEM |
% |
4.08 |
6.74 |
1.38 |
|
NET PROFIT
MARGIN |
% |
3.08 |
4.84 |
1.02 |
|
RETURN ON EQUITY |
% |
15.09 |
28.97 |
6.01 |
|
RETURN ON ASSET |
% |
13.24 |
22.15 |
4.48 |
|
EARNING PER
SHARE |
BAHT |
1,622.03 |
2,643.94 |
389.65 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.12 |
0.24 |
0.25 |
|
DEBT TO EQUITY
RATIO |
TIMES |
0.14 |
0.31 |
0.34 |
|
TIME INTEREST
EARNED |
TIMES |
49.96 |
49.25 |
8.14 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.64) |
43.48 |
|
|
OPERATING
PROFIT |
% |
(41.69) |
600.42 |
|
|
NET PROFIT |
% |
(38.65) |
578.55 |
|
|
FIXED ASSETS |
% |
(4.88) |
55.96 |
|
|
TOTAL ASSETS |
% |
2.59 |
37.23 |
|
ANNUAL GROWTH :
RISKY
An annual sales
growth is -3.64%. Turnover has decreased from THB 153,078,086.48 in 2011 to THB
147,507,420.27 in 2012. While net profit has decreased from THB 7,413,614.09 in
2011 to THB 4,548,164.75 in 2012. And total assets has increased from THB
33,475,112.74 in 2011 to THB 34,340,607.62 in 2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit
Margin |
19.16 |
Acceptable |
Industrial
Average |
30.16 |
|
Net Profit
Margin |
3.08 |
Satisfactory |
Industrial
Average |
3.71 |
|
Return on
Assets |
13.24 |
Impressive |
Industrial
Average |
4.18 |
|
Return on
Equity |
15.09 |
Impressive |
Industrial
Average |
9.51 |
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 19.16%. 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 3.08%. 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 13.24%, 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 15.09%, 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 :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
5.58 |
Impressive |
Industrial
Average |
1.78 |
|
Quick Ratio |
2.18 |
|
|
|
|
Cash Conversion
Cycle |
33.97 |
|
|
|
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 5.58 times in 2012,
increased from 2.68 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 2.18 times in 2012, increased from 1.71
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 34 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.12 |
Impressive |
Industrial
Average |
0.52 |
|
Debt to Equity
Ratio |
0.14 |
Impressive |
Industrial
Average |
1.05 |
|
Times Interest
Earned |
49.96 |
Impressive |
Industrial
Average |
1.44 |
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
49.97 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 0.12 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 |
24.99 |
Impressive |
Industrial
Average |
0.87 |
|
Total Assets
Turnover |
4.30 |
Impressive |
Industrial
Average |
1.11 |
|
Inventory
Conversion Period |
34.29 |
|
|
|
|
Inventory
Turnover |
10.64 |
Impressive |
Industrial
Average |
2.10 |
|
Receivables
Conversion Period |
5.76 |
|
|
|
|
Receivables
Turnover |
63.37 |
Impressive |
Industrial Average |
2.18 |
|
Payables
Conversion Period |
6.08 |
|
|
|
The company's
Account Receivable Ratio is calculated as 63.37 and 25.48 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 increased from
2011. 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 16 days at the end of 2011 to 34 days at the end of 2012. This
represents a negative trend. And Inventory turnover has decreased from 23.52
times in year 2011 to 10.64 times in year 2012.
The company's Total
Asset Turnover is calculated as 4.3 times and 4.57 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 Downtrend
Inventory Turnover Downtrend
Receivables
Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.97.77 |
|
Euro |
1 |
Rs.82.78 |
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.