MIRA INFORM REPORT
|
Report Date : |
16.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SCG
PERFORMANCE CHEMICALS CO.,
LTD. |
|
|
|
|
Registered Office : |
1st Flr., 26
Building, 1 Siam
Cement Rd., Bangsue,
Bangkok 10800 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1.07.2008 |
|
|
|
|
Com. Reg. No.: |
0105551069531 |
|
|
|
|
Legal Form : |
Private Limited Company
|
|
|
|
|
Line of Business : |
Subject engaged in distributing of
petrochemical specialized
in polyolefin products,
such as Polyethylen [PE],
Polypropylene [PP], High Density Polyethylene [HDPE], Medium Density
Polyethylene [MDPE], Low Density
Polyethylene [LDPE],
Linear Low Density
Polyethylele [LLDPE], as well
as masterbatch and
Polyethylene wax for
various industries, such
as plastic & rubber products,
flexible packaging, wires & cables, medical
equipment and automotive
parts industries. |
|
|
|
|
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 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
SCG PERFORMANCE
CHEMICALS CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 1st FLOOR
26 BUILDING, 1
SIAM CEMENT ROAD,
T.
BANGSUE, A. BANGSUE, BANGKOK
10800
TELEPHONE : [66] 2586-4115-7,
2586-1118
FAX :
[66] 2586-5488,
2586-3676
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2008
REGISTRATION
NO. : 0105551069531
TAX
ID NO. : 3033154689
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT.
2,500,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. YUTTHANA CHIAMTRAKARN,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 100
LINES
OF BUSINESS : PETROCHEMICAL [OLEFINS]
EXPORTER AND
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 July
1, 2008 as
a private limited
company under the
name SCG PERFORMANCE
CHEMICALS CO., LTD., by
Thai groups. Its
business is a
distributor and exporter
of olefins.
On
September 29, 2009,
the subject has
been ordered by
The Administrative Court for
an interim injunction of
the plant construction,
due to the
community protection for
health and environment
purposes in the
Mab Ta Phut
Industrial Estate area.
However, its business
currently distributes petrochemical [olefins] products.
It employs approximately
100 staff.
The
subject is a
wholly owned subsidiary
of SCG Chemicals
Co., Ltd., which
is a subsidiary
of The Siam
Cement Public Company
Limited, and are
also member of
the SCG Group [former : Siam Cement
Group] of companies.
The
subject’s registered address
is 1st Flr.,
26 Building, 1
Siam Cement Rd.,
Bangsue, Bangkok 10800,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Cholanat Yanaranop |
|
Thai |
53 |
|
Mr. Yutthana Chiamtrakarn |
|
Thai |
50 |
|
Mr. Sakchai Patipanpreechavudhi |
|
Thai |
45 |
|
Mr. Chaovalit Ekabutr |
|
Thai |
54 |
|
Mr. Somchai Wangwattanapanich |
|
Thai |
54 |
|
Mr. Rungroj Rangsiyopas |
|
Thai |
50 |
AUTHORIZED
PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Yutthana Chiamtrakarn is
the Managing Director.
He is Thai
nationality with the
age of 50
years old.
BUSINESS
OPERATIONS
The subject is engaged
in distributing of
petrochemical specialized in polyolefin
products, such as Polyethylen [PE], Polypropylene [PP], High Density
Polyethylene [HDPE], Medium
Density Polyethylene [MDPE], Low
Density Polyethylene [LDPE], Linear
Low Density Polyethylele [LLDPE], as
well as masterbatch
and Polyethylene wax
for various industries,
such as plastic & rubber products,
flexible packaging, wires & cables, medical
equipment and automotive
parts industries.
PURCHASE
100% of the
products is purchased
from local suppliers.
MAJOR
SUPPLIERS
Thai Polypropylene Co.,
Ltd.
Thai Polyethylene Co.,
Ltd.
Maptaphut Olefins Co.,
Ltd.
Rayong Olefins Co.,
Ltd.
SALES
90% of the
products is exported
to Republic of
China, Vietnam, Philippines,
Myanmar, Japan, Dubai,
Indonesia, India, Malaysia,
Hong Kong, Australia
and Europe, the remaining
10% is sold
locally.
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.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately
100 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Warehouse
is located in
Rayong province.
COMMENT
Subject
was formed in 2008
as a distributor
and exporter of
plastic resin. The products
are for plastic
industry. Subject’s business
performance is upbeat
as its products
have been widely
used in plastic
industries.
Subject
reported outstanding performance
in the previous
year, while its
business is growing
steadily from strong
consumption both domestic
and export markets.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 5,000,000 divided
into 50,000 shares
of Bht. 100 each,
with the current
capital paid-up at
Bht. 2,500,000 or
Bht. 50 @ 50,000
shares.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 11, 2013]
at Bht. 2,500,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
SCG Chemicals Co.,
Ltd. Nationality: Thai Address : 1
Siam Cement Rd.,
Bangsue, Bangkok |
49,998 |
100.00 |
|
Mr. Veera Kamwongsa Nationality: Thai Address : 143/161
Rimklongprapa Rd., Bangsue,
Bangkok |
1 |
- |
|
Mrs. Veeranuch Sethamedhikul Nationality: Thai Address : 40/29
Moo 6, Kukot, Lamlukka,
Pathumthani |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 11, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
50,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO :
Ms.
Sureerat Thongaroonsaeng No.
4409
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
207,588,876 |
87,582,765 |
98,724,266 |
|
Trade Accounts Receivable
|
2,525,247,699 |
3,119,851,367 |
1,673,881,136 |
|
Receivable & Short-term Lending to Related Company |
- |
- |
9,590,008 |
|
Goods Purchase for Sale |
411,301,919 |
431,738,765 |
206,949,327 |
|
Value Added Tax Receivable |
104,496,285 |
320,237,495 |
55,504,047 |
|
Other Current Assets
|
41,014,642 |
32,921,326 |
22,229,693 |
|
Total Current
Assets |
3,289,649,421 |
3,992,331,718 |
2,066,878,477 |
|
Other Long-term Investment |
87,262 |
87,262 |
87,262 |
|
Fixed Assets |
3,241,461 |
1,856,442 |
733,285 |
|
Intangible Assets |
542,436 |
454,849 |
517,924 |
|
Other Non-current Assets |
- |
24,633 |
24,670 |
|
Total Assets
|
3,293,520,580 |
3,994,754,904 |
2,068,241,618 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Advance by Bank
Transfer under the Billing of Accounts
Receivable |
64,802,832 |
23,127,173 |
24,919,826 |
|
Trade Accounts & Other Payable |
2,576,590,062 |
2,666,371,425 |
1,401,811,156 |
|
Payable & Short-term Loan from Related Company |
583,925,327 |
1,193,817,155 |
416,665,313 |
|
Accrued Income Tax |
6,094,476 |
6,167,223 |
7,186,282 |
|
Other Current Liabilities |
3,696,580 |
3,326,244 |
158,136,812 |
|
Total Current
Liabilities |
3,235,109,277 |
3,892,809,220 |
2,008,719,389 |
|
Deferred Income Tax
Liabilities |
4,042,764 |
9,956,901 |
9,796,697 |
|
Employee Benefits Liabilities |
11,040,925 |
2,299,603 |
- |
|
Total Liabilities |
3,250,192,966 |
3,905,065,724 |
2,018,516,086 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 value
Authorized &
issued share capital 50,000
shares |
5,000,000 |
5,000,000 |
5,000,000 |
|
Capital Paid |
2,500,000 |
2,500,000 |
2,500,000 |
|
Retained Earning Appropriated Statutory Reserve |
500,000 |
500,000 |
- |
|
Unappropriated |
40,327,614 |
86,689,180 |
47,225,532 |
|
Total
Shareholders' Equity |
43,327,614 |
89,689,180 |
49,725,532 |
|
Total Liabilities
& Shareholders' Equity |
3,293,520,580 |
3,994,754,904 |
2,068,241,618 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
26,910,801,756 |
25,362,061,127 |
20,129,495,532 |
|
Other Income |
2,840,560 |
1,835,520 |
5,559,940 |
|
Interest Income |
30,230 |
53,959 |
21,711 |
|
Gain on Exchange Rate |
6,294,834 |
41,166,268 |
32,090,931 |
|
Total Revenues
|
26,919,967,380 |
25,405,116,874 |
20,167,168,114 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
26,002,297,933 |
24,365,973,008 |
19,179,384,470 |
|
Selling Expenses |
530,826,521 |
593,664,470 |
595,659,879 |
|
Administrative Expenses |
323,358,137 |
315,674,876 |
262,429,554 |
|
Total Expenses |
26,856,482,591 |
25,275,312,354 |
20,037,473,903 |
|
Profit before Financial Cost & Income Tax |
63,484,789 |
129,804,520 |
129,694,211 |
|
Financial Cost |
[20,679,500] |
[17,825,418] |
[42,226,528] |
|
Loss before Income tax |
42,805,289 |
111,979,102 |
87,467,683 |
|
Income Tax |
[9,166,855] |
[30,220,812] |
[26,283,094] |
|
Net Profit / [Loss] |
33,638,434 |
81,758,290 |
61,184,589 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.02 |
1.03 |
1.03 |
|
QUICK RATIO |
TIMES |
0.84 |
0.82 |
0.89 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
8,302.06 |
13,661.65 |
27,451.12 |
|
TOTAL ASSETS TURNOVER |
TIMES |
8.17 |
6.35 |
9.73 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
5.77 |
6.47 |
3.94 |
|
INVENTORY TURNOVER |
TIMES |
63.22 |
56.44 |
92.68 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
34.25 |
44.90 |
30.35 |
|
RECEIVABLES TURNOVER |
TIMES |
10.66 |
8.13 |
12.03 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
36.17 |
39.94 |
26.68 |
|
CASH CONVERSION CYCLE |
DAYS |
3.86 |
11.42 |
7.61 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
96.62 |
96.07 |
95.28 |
|
SELLING & ADMINISTRATION |
% |
3.17 |
3.59 |
4.26 |
|
INTEREST |
% |
0.08 |
0.07 |
0.21 |
|
GROSS PROFIT MARGIN |
% |
3.41 |
4.10 |
4.91 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.24 |
0.51 |
0.64 |
|
NET PROFIT MARGIN |
% |
0.12 |
0.32 |
0.30 |
|
RETURN ON EQUITY |
% |
77.64 |
91.16 |
123.04 |
|
RETURN ON ASSET |
% |
1.02 |
2.05 |
2.96 |
|
EARNING PER SHARE |
BAHT |
1,345.54 |
3,270.33 |
2,447.38 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.99 |
0.98 |
0.98 |
|
DEBT TO EQUITY RATIO |
TIMES |
75.01 |
43.54 |
40.59 |
|
TIME INTEREST EARNED |
TIMES |
3.07 |
7.28 |
3.07 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.11 |
25.99 |
|
|
OPERATING PROFIT |
% |
(51.09) |
0.09 |
|
|
NET PROFIT |
% |
(58.86) |
33.63 |
|
|
FIXED ASSETS |
% |
74.61 |
153.17 |
|
|
TOTAL ASSETS |
% |
(17.55) |
93.15 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 6.11%. Turnover has increased from THB
25,362,061,127.00 in 2011 to THB 26,910,801,756.00 in 2012. While net profit
has decreased from THB 81,758,290.00 in 2011 to THB 33,638,434.00 in 2012. And
total assets has decreased from THB 3,994,754,904.00 in 2011 to THB
3,293,520,580.00 in 2012.
PROFITABILITY : ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
3.41 |
Deteriorated |
Industrial
Average |
27.90 |
|
Net Profit Margin |
0.12 |
Deteriorated |
Industrial
Average |
2.46 |
|
Return on Assets |
1.02 |
Deteriorated |
Industrial
Average |
4.64 |
|
Return on Equity |
77.64 |
Impressive |
Industrial
Average |
9.65 |
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 3.41%. 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 0.12%.
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 1.02%.
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 77.64%,
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 Downtrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.02 |
Acceptable |
Industrial
Average |
1.37 |
|
Quick Ratio |
0.84 |
|
|
|
|
Cash Conversion Cycle |
3.86 |
|
|
|
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 1.02 times in 2012, decreased from 1.03 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 0.84 times in 2012,
increased from 0.82 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 4 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.99 |
Acceptable |
Industrial
Average |
0.50 |
|
Debt to Equity Ratio |
75.01 |
Risky |
Industrial
Average |
0.94 |
|
Times Interest Earned |
3.07 |
Impressive |
Industrial
Average |
1.20 |
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 3.07 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 0.99 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 Downtrend
Times Interest Earned Downtrend
ACTIVITY :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
8,302.06 |
Impressive |
Industrial
Average |
1.55 |
|
Total Assets Turnover |
8.17 |
Impressive |
Industrial
Average |
1.83 |
|
Inventory Conversion Period |
5.77 |
|
|
|
|
Inventory Turnover |
63.22 |
Impressive |
Industrial
Average |
8.85 |
|
Receivables Conversion Period |
34.25 |
|
|
|
|
Receivables Turnover |
10.66 |
Impressive |
Industrial
Average |
3.74 |
|
Payables Conversion Period |
36.17 |
|
|
|
The company's Account Receivable Ratio is calculated as 10.66 and 8.13
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 is 6 days at the end of 2011, same
no. of days
as in 2012.
This represents a positive trend. And Inventory turnover has increased
from 56.44 times in year 2011 to 63.22 times in year 2012.
The company's Total Asset Turnover is calculated as 8.17 times and 6.35
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 Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.63.78 |
|
UK Pound |
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.66 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.