MIRA INFORM REPORT
|
Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARWEL
INTERNATIONAL CO., LTD. |
|
|
|
|
Registered Office : |
87-88 Soi Boromratchonnee 39, Boromratchonnee Road, Talingchan, Bangkok 10170 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
30.12.2012 |
|
|
|
|
Date of Incorporation : |
11.04.1995 |
|
|
|
|
Com. Reg. No.: |
0105538046001 [Former
: [1] 1027/2538] |
|
|
|
|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
importer
and distributor of
various kinds of industrial
chemicals, mainly for agricultural, foods, water
treatment, rubber, consumer
goods, cleaning, waste water purifications, paints,
swimming pools and
pharmaceuticals. |
|
|
|
|
No. of Employees : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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
PARWEL INTERNATIONAL CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 87-88
SOI BOROMRATCHONNEE 39,
BOROMRATCHONNEE ROAD,
TALINGCHAN,
BANGKOK 10170,
THAILAND
TELEPHONE : [66] 2434-3671-4
FAX :
[66] 2434-3674
E-MAIL
ADDRESS : pwco5599@ksc.th.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1995
REGISTRATION
NO. : 0105538046001 [Former
: [1] 1027/2538]
TAX
ID NO. : 3011562727
CAPITAL REGISTERED : BHT. 8,000,000
CAPITAL PAID-UP : BHT.
8,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
VINIJ MEK-AREEYA, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 50
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
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 April
11, 1995 as
a private limited
company under the
name style PARWEL
INTERNATIONAL CO., LTD.,
by Thai groups,
with the business
objective to import
and distribute wide
range of industrial
chemicals to domestic
market. It currently
employs approximate 50 staff.
The subject’s registered and business
address was initially
located at 667/15
Ataboon Building, Charansanitwong Rd.,
Arun-Amarin, Bangkoknoi, Bangkok
10700.
On February 1,
2007, subject’s registered
address was relocated
to 87-88 Moo
6, Soi Pinnakorn
4, Boromratchonnee Rd.,
Talingchan, Bangkok 10170.
On December 7,
2012, its registered
address was changed
to 87-88 Soi
Boromratchonnee 39, Boromratchonnee Rd.,
Talingchan, Bangkok 10170,
by the Talingchan
District Office, which
actually are the
same location, and
this is the
subject’s current operation
address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Vinij Mek-areeya
|
|
Thai |
54 |
|
Mrs. Danupa Mek-areeya |
|
Thai |
51 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Vinij Mek-areeya is
the Managing Director.
He is Thai
nationality with the
age of 54
years old.
BUSINESS OPERATIONS
The subject’s activities are importer
and distributor various
kinds of industrial chemicals,
mainly for agricultural, foods, water
treatment, rubber, consumer
goods, cleaning, waste water
purifications, paints, swimming
pools and pharmaceuticals.
Its products include
chlorine, water treatment
chemical, minor & trace mineral
for paint, food & feed additive
chemical, aquaculture chemical,
agro-chemical.
PURCHASE
90% of its
products is imported
from U.S.A., Germany,
India, Japan, Republic of China, Taiwan, Italy
and United Kingdom, and
the remaining 10%
is purchased from
local suppliers.
SALES [LOCAL]
The products are
sold locally to
wholesalers, manufacturers and
end-users.
RELATED/AFFILIATED COMPANIES
Agro-Biomate Co., Ltd.
Business Type :
Importer and distributor
of agro-chemicals
Asia Royal Seafood
Co., Ltd.
Business Type :
Importer and distributor
of seafood products
Asia Premium Supply
Co., Ltd.
Business Type :
Importer and distributor
of agriculture products
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.
BANKING
TMB Bank Public Co.,
Ltd.
[Head Office
: Phaholyothin Road]
& [Charansanitwong Branch]
Bangkok Bank Public Co., Ltd.
[Head Office
: Silom Road]
& [Charansanitwong Branch]
Kasikornbank Public Co., Ltd.
[Head Office
: Rajburana Road]
EMPLOYMENT
The subject employs
approximately 50 staff.
[office and sales
staff ]
LOCATION DETAILS
The premise is
owned for operating
office at the
heading address in
commercial/ residential area.
Warehouse:
- 48/3 Moo
1, Budhamonthon Road,
T. Salaya, A.
Budhamonthon,
Nakornpathom 73170.
Tel. : [66] 2889-2242-3.
- 9 Moo
3, T. Mahasawat, A. Budhamonthon, Nakornpathom 73170.
- 78 Moo
2, T. Mahasawat, A. Budhamonthon, Nakornpathom 73170.
COMMENT
Subject
is an importer
and distributor of
industrial chemicals. It has
performed well since
the products are varies for
industrial users. Subject’s
business performance closely links with
the condition of
domestic and exports
consumption, which is
likely to expand
slowly.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each.
On June 9,
2004, the capital
was increased to
Bht. 8,000,000 divided
into 80,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE :
[as at April
30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Vinij Mek-areeya
Nationality: Thai Address : 671/103
Charansanitwong Rd.,
Arun-Amarin, Bangkoknoi, Bangkok |
54,996 |
68.74 |
|
Mrs. Somsong Mek-areeya
Nationality: Thai Address : 42/10
Moo 3, Chimplee,
Talingchan, Bangkok |
20,000 |
25.00 |
|
Mrs. Danupa Mek-areeya Nationality: Thai Address : 46/1
Srilanna Rd., Paton,
Muang, Chiangmai |
5,000 |
6.25 |
|
Ms. Nartwadee Anutchalakom Nationality: Thai Address : 86/7
Premjairaj Rd., Saensuk,
Muang, Chonburi |
1 |
|
|
Ms. Parichart Sukhantang
Nationality: Thai Address : 1/116
Ladprao Rd., Ladprao,
Bangkok |
1 |
= 0.01 |
|
Mrs. Ajcharaporn Kengsakul
Nationality: Thai Address : 1/116
Ladprao Rd., Ladprao,
Bangkok |
1 |
|
|
Mr. Pawuth Anutchalakom Nationality: Thai Address : 86/7
Premjairaj Rd., Saensuk,
Muang, Chonburi |
1 |
|
Total Shareholders : 7
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
80,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
80,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Varee Chayuti No.
7282
BALANCE SHEET [BAHT]
The latest financial figures published
as at December 30,
2012, 2011 &
2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
207,888.20 |
1,811,320.37 |
4,453,305.45 |
|
Trade Accounts & Other Receivable
|
|
|
|
|
Trade Accounts & Notes Receivable |
26,211,955.16 |
21,860,742.68 |
23,413,058.03 |
|
Other Receivable |
- |
414,609.66 |
- |
|
Inventories |
30,974,054.28 |
18,735,721.24 |
19,529,301.29 |
|
Other Current Assets
|
262,712.57 |
25,624.36 |
50,034.34 |
|
|
|
|
|
|
Total Current Assets
|
57,656,610.21 |
42,848,018.31 |
47,445,699.11 |
|
Other Investment |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Fixed Assets |
38,913,164.97 |
20,238,652.63 |
22,236,207.48 |
|
Other Non - current Assets |
1,097,125.00 |
1,091,010.52 |
281,766.30 |
|
Total Assets |
99,666,900.18 |
66,177,681.46 |
71,963,672.89 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
3,749,331.46 |
- |
1,855,164.78 |
|
Trade Accounts & Other Payable |
|
|
|
|
Trade Accounts
Payable |
32,283,403.88 |
8,227,407.49 |
13,676,291.60 |
|
Other Payable |
886,095.75 |
1,717,809.85 |
2,405,070.68 |
|
Current Portion of Lease
Contract Liabilities |
357,359.52 |
291,121.34 |
542,651.84 |
|
Other Current Liabilities |
259,261.49 |
888,705.30 |
108,527.22 |
|
|
|
|
|
|
Total Current Liabilities |
37,535,452.10 |
11,125,043.98 |
18,587,706.12 |
|
Other Long-term Loan |
6,062,500.00 |
1,812,500.00 |
2,890,500.00 |
|
Lease Contract Liabilities,
Note |
791,874.50 |
- |
291,218.94 |
|
Total Liabilities |
44,389,826.60 |
12,937,543.98 |
21,769,425.06 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 80,000 shares |
8,000,000.00 |
8,000,000.00 |
8,000,000.00 |
|
|
|
|
|
|
Capital Paid |
8,000,000.00 |
8,000,000.00 |
8,000,000.00 |
|
Retained Earnings Unappropriated
|
47,277,073.58 |
45,240,137.48 |
42,194,247.83 |
|
Total Shareholders' Equity |
55,277,073.58 |
53,240,137.48 |
50,194,247.83 |
|
Total Liabilities &
Shareholders' Equity |
99,666,900.18 |
66,177,681.46 |
71,963,672.89 |
PROFIT & LOSS
ACCOUNT
|
Sale |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
170,072,412.03 |
173,312,148.62 |
171,896,668.49 |
|
Rental Income |
807,600.00 |
702,600.00 |
- |
|
Other Income |
153,671.60 |
311,276.36 |
3,400,040.00 |
|
Total Sales |
171,033,683.63 |
174,326,024.98 |
175,296,708.49 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
138,967,887.01 |
137,786,006.01 |
139,538,664.29 |
|
Selling Expenses |
1,445,897.75 |
2,334,784.70 |
1,968,572.90 |
|
Selling and Administrative Expenses |
26,036,886.80 |
27,020,284.46 |
24,952,010.17 |
|
Other Expenses |
287,273.36 |
1,095,946.09 |
405,236.97 |
|
Total Expenses |
166,737,944.92 |
168,237,021.26 |
166,864,484.33 |
|
|
|
|
|
|
Profit/[Loss] before Financial
Cost & Income Tax |
4,295,738.71 |
6,089,003.72 |
8,432,224.16 |
|
Financial Cost |
[1,647,707.30] |
[1,187,255.99] |
[1,401,874.81] |
|
Income Tax |
[611,095.31] |
[1,455,858.08] |
[1,869,180.99] |
|
|
|
|
|
|
Net Profit / [Loss] |
2,036,936.10 |
3,445,889.65 |
5,161,168.36 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.54 |
3.85 |
2.55 |
|
QUICK RATIO |
TIMES |
0.70 |
2.17 |
1.50 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.39 |
8.60 |
7.73 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.71 |
2.63 |
2.39 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
81.35 |
49.63 |
51.08 |
|
INVENTORY TURNOVER |
TIMES |
4.49 |
7.35 |
7.15 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
55.99 |
45.85 |
49.71 |
|
RECEIVABLES TURNOVER |
TIMES |
6.52 |
7.96 |
7.34 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
84.79 |
21.79 |
35.77 |
|
CASH CONVERSION CYCLE |
DAYS |
52.55 |
73.69 |
65.02 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
81.32 |
79.18 |
81.18 |
|
SELLING & ADMINISTRATION |
% |
16.08 |
16.87 |
15.66 |
|
INTEREST |
% |
0.96 |
0.68 |
0.82 |
|
GROSS PROFIT MARGIN |
% |
18.77 |
21.00 |
20.80 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.51 |
3.50 |
4.91 |
|
NET PROFIT MARGIN |
% |
1.19 |
1.98 |
3.00 |
|
RETURN ON EQUITY |
% |
3.68 |
6.47 |
10.28 |
|
RETURN ON ASSET |
% |
2.04 |
5.21 |
7.17 |
|
EARNING PER SHARE |
BAHT |
25.46 |
43.07 |
64.51 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.45 |
0.20 |
0.30 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.80 |
0.24 |
0.43 |
|
TIME INTEREST EARNED |
TIMES |
2.61 |
5.13 |
6.01 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(1.80) |
1.23 |
|
|
OPERATING PROFIT |
% |
(29.45) |
(27.79) |
|
|
NET PROFIT |
% |
(40.89) |
(33.23) |
|
|
FIXED ASSETS |
% |
92.27 |
(8.98) |
|
|
TOTAL ASSETS |
% |
50.61 |
(8.04) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -1.8%. Turnover has decreased from THB
174,014,748.62 in 2011 to THB 170,880,012.03 in 2012. While net profit has
decreased from THB 3,445,889.65 in 2011 to THB 2,036,936.10 in 2012. And total
assets has increased from THB 66,177,681.46 in 2011 to THB 99,666,900.18 in
2012.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
18.77 |
Deteriorated |
Industrial Average |
40.70 |
|
Net Profit Margin |
1.19 |
Deteriorated |
Industrial Average |
5.11 |
|
Return on Assets |
2.04 |
Deteriorated |
Industrial Average |
4.22 |
|
Return on Equity |
3.68 |
Acceptable |
Industrial Average |
7.30 |
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 18.77%. 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 1.19%.
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 2.04%.
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 3.68%.
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 |
1.54 |
Satisfactory |
Industrial Average |
1.72 |
|
Quick Ratio |
0.70 |
|
|
|
|
Cash Conversion Cycle |
52.55 |
|
|
|
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 1.54 times in 2012, decreased from 3.85 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 0.7 times in 2012,
decreased from 2.17 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
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 53 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.45 |
Acceptable |
Industrial Average |
0.39 |
|
Debt to Equity Ratio |
0.80 |
Impressive |
Industrial Average |
0.65 |
|
Times Interest Earned |
2.61 |
Impressive |
Industrial Average |
2.13 |
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 2.61 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 0.45 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 Downtrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.39 |
Impressive |
Industrial Average |
0.38 |
|
Total Assets Turnover |
1.71 |
Impressive |
Industrial Average |
0.82 |
|
Inventory Conversion Period |
81.35 |
|
|
|
|
Inventory Turnover |
4.49 |
Satisfactory |
Industrial Average |
5.15 |
|
Receivables Conversion Period |
55.99 |
|
|
|
|
Receivables Turnover |
6.52 |
Impressive |
Industrial Average |
2.38 |
|
Payables Conversion Period |
84.79 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.52 and 7.96 in
2012 and 2011 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 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 50 days at the
end of 2011 to 81 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 7.35 times in year 2011 to 4.49 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.71 times and 2.63
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.61.75 |
|
UK Pound |
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.55 |
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.