MIRA
INFORM REPORT
|
Report Date : |
03.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
P.P.C. FACTORY CO., LTD. |
|
|
|
|
Registered Office : |
226, 228, 230, 232 Soi Onnuch 17, Suanluang, Bangkok 10250 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.05.2013 |
|
|
|
|
Date of Incorporation : |
1986 |
|
|
|
|
Com. Reg. No.: |
0105529020509 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Contracted Manufacturer of
Paper Packaging Products |
|
|
|
|
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. 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 recession severely cut Thailand's exports,
with most sectors experiencing double-digit drops. In late 2011 Thailand's
recovery was interrupted by historic flooding in the industrial areas in
Bangkok and its five surrounding provinces, crippling the manufacturing sector.
The government 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 following seven years.
|
Source
: CIA |
Company name and address
P.P.C. FACTORY
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 226, 228, 230,
232 SOI ONNUCH
17,
SUANLUANG, BANGKOK
10250, THAILAND
TELEPHONE : [66] 2311-4066-7,
2742-4037
FAX : [66] 2311-3963
E-MAIL ADDRESS : ppc_factory@hotmail.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1986
REGISTRATION NO. : 0105529020509
TAX ID NO. : 3101394665
CAPITAL REGISTERED : BHT.
9,000,000
CAPITAL PAID-UP : BHT.
9,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : MAY 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SURAPHOL CHONPAIPIMONRAT, THAI
MANAGING DIRECTOR
NO. OF STAFF : 100
LINES OF BUSINESS : PAPER
PACKAGING PRODUCTS
CONTRACTED MANUFACTURER
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 June
18, 1986 as
a private limited
company under the
registered name P.P.C. FACTORY CO.,
LTD., by Thai
groups, with the business
objective to provide
manufacturing service various
kinds of paper
packaging products. It
currently employs approximately
100 staff.
The subject’s registered
address is 226, 228, 230, 232 Soi Onnuch 17,
Suanluang, Bangkok 10250,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Suraphol Chonpaipimonrat |
[x] |
Thai |
63 |
|
Mrs. Siriporn Chonpaipimonrat |
|
Thai |
65 |
|
Ms. Ladda Chonpaipimonrat |
|
Thai |
53 |
AUTHORIZED PERSON
The mentioned director
[x] signs on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Suraphol Chonpaipimonrat is
the Managing Director.
He is Thai
nationality with the
age of 63 years
old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
service various kinds
of paper packaging
products as follows:
Paper cup : hot
cup, cold cup,
ice-cream cup
Paper tray
Paper box : snack box, cake
box, food box,
popcorn box, cup
cake box,
cup cake set
and etc.
Cone cup & lid
Paper coaster
Crape
PURCHASE
100% of raw
materials is purchased
from local suppliers.
SALES
100% of the
products is sold
locally to wholesalers
and end-users, mainly
foods and dairy
products businesses.
MAJOR CUSTOMERS
A & W Restaurant [Thailand]
Co., Ltd.
Dunkin Donuts [Thailand]
Co., Ltd.
F & N Dairies [Thailand]
Co., Ltd.
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 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.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject currently
employs approximately 100
staff.
LOCATION DETAILS
The premise is
owned for administrative office
and factory I
at the heading
address. Premise is
located in commercial/residential area.
Factory II is
located at 26/10-11
Moo 1, Bangbuathong,
Nonthaburi 11110.
COMMENT
The subject’s operating
performance in 2013
was impressive with
an increase in
both sales revenue
and net profit
comparing to the
previous year. The
products were in
high demand from
fast food, food kiosk and
convenience store. The subject’s
business is growing
moderately.
FINANCIAL INFORMATION
The capital was
registered at Bht. 1,000,000 divided
into 10,000 shares of
Bht. 100 each
with fully paid.
The capital was
increased later as
follows:
Bht. 3,000,000
on March 12,
1999
Bht. 9,000,000
on December 19,
2001
The latest registered
capital was increased
to Bht. 9,000,000 divided
into 90,000 shares
of Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
[as at September
30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Suraphol Chonpaipimonrat Nationality: Thai Address : 721/10
Sukhumvit Road, Klongton,
Prakanong, Bangkok |
29,970 |
33.30 |
|
Mrs. Siriporn Chonpaipimonrat Nationality: Thai Address :
354/5 Moo 11,
Soi Suanluang, Sukhumvit
77 Rd., Suanluang,
Bangkok |
28,000 |
31.11 |
|
Ms. Veena Chonpaipimonrat Nationality: Thai Address : 721/10
Sukhumvit Road, Klongton,
Prakanong, Bangkok |
11,000 |
12.22 |
|
Mr. Chalermchart
Chonpaipimonrat Nationality: Thai Address : 232
Soi Onnuch 17,
Suanluang, Bangkok |
10,000 |
11.11 |
|
Mr. Warut Chonpaipimonrat Nationality: Thai Address : 232
Soi Onnuch 17,
Suanluang, Bangkok |
5,000 |
5.56 |
|
Mr. Danai Pornpipat Nationality: Thai Address : 105/14 T. Thasai, A. Muang,
Nonthaburi |
5,000 |
5.56 |
|
Ms. Ladda Chonpaipimonrat Nationality: Thai Address : 721/10
Sukhumvit Road, Klongton, Prakanong, Bangkok |
1,000 |
1.11 |
|
Mr. Sutthipong Wangteeranon Nationality: Thai Address : 153/17
Charoenmuang Rd., Rongmuang,
Pathumwan, Bangkok |
10 |
|
|
Ms. Suwanna Laokwansatit Nationality: Thai Address : 61/40
Soi Sukhumvit 26,
Klongton,
Prakanong, Bangkok |
10 |
=0.03 |
|
Mr. Vorasak Yoolong Nationality: Thai Address : 100
Soi Pasana 2,
Ekamai Road,
Prakanong, Bangkok |
10 |
|
Total Shareholders : 10
Share Structure [as
at September 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
10 |
90,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
10 |
90,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Rachaporn Plaitho No.
5527
BALANCE SHEET [BAHT]
The latest
financial figures published
for May 31,
2013, 2012 & 2011
were:
ASSETS
|
Current Assets |
2013 |
2012 |
20110 |
|
|
|
|
|
|
Cash and Cash Equivalents |
13,570.38 |
32,347.14 |
23,013.27 |
|
Trade Accounts & Other Receivable |
9,788,159.43 |
12,046,841.66 |
10,025,470.85 |
|
Short-term Loans |
11,970,000.00 |
6,080,000.00 |
3,100,000.00 |
|
Inventories |
8,928,779.41 |
9,167,631.66 |
9,343,263.29 |
|
Security Money |
2,184,621.35 |
2,184,621.35 |
- |
|
Deposit |
650,000.00 |
650,000.00 |
650,000.00 |
|
|
|
|
|
|
Total Current Assets
|
33,535,130.57 |
30,161,441.81 |
23,141,747.41 |
|
|
|
|
|
|
Fixed Assets |
18,945,478.86 |
19,598,880.37 |
18,661,338.59 |
|
Other Non-current Assets |
42,810.00 |
105,666.53 |
105,666.53 |
|
Total Assets |
52,523,419.43 |
49,865,988.71 |
41,908,752.53 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
20110 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
15,939,636.03 |
11,611,540.49 |
8,824,981.23 |
|
Trade Accounts & Other Payable |
8,569,458.89 |
9,439,474.24 |
9,203,382.50 |
|
Current Portion of Long-term Loans |
430,408.05 |
324,606.45 |
105,660.02 |
|
Accrued Dividend |
900,000.00 |
- |
- |
|
Other Current Liabilities |
420,837.50 |
54,133.80 |
705,600.56 |
|
|
|
|
|
|
Total Current Liabilities |
26,260,340.47 |
21,429,754.98 |
18,839,624.31 |
|
|
|
|
|
|
Long-term Liabilities, net |
945,366.73 |
1,020,522.37 |
340,878.82 |
|
Other Long-term Loans |
- |
4,728,000.00 |
1,808,000.00 |
|
Total Liabilities |
27,205,707.20 |
27,178,277.35 |
20,988,503.13 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 90,000 shares |
9,000,000.00 |
9,000,000.00 |
9,000,000.00 |
|
|
|
|
|
|
Capital Paid |
9,000,000.00 |
9,000,000.00 |
9,000,000.00 |
|
Retained Earning |
|
|
|
|
Appropriated for Statutory
Reserve |
176,500.04 |
- |
- |
|
- Unappropriated |
16,141,212.19 |
13,687,711.36 |
11,920,249.40 |
|
Total Shareholders' Equity |
25,317,712.23 |
22,687,711.36 |
20,920,249.40 |
|
Total Liabilities &
Shareholders' Equity |
52,523,419.43 |
49,865,988.71 |
41,908,752.53 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
20110 |
|
|
|
|
|
|
Sales Income |
53,366,648.23 |
52,582,064.74 |
60,991,747.91 |
|
Services Income |
394,684.05 |
- |
- |
|
Other Income |
142,004.36 |
77,979.90 |
962,722.53 |
|
Total Revenues |
53,903,336.64 |
52,660,044.64 |
61,954,470.44 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
40,013,710.45 |
39,355,203.69 |
49,180,411.32 |
|
Selling Expenses |
1,055,250.09 |
1,436,770.71 |
1,127,885.95 |
|
Administrative Expenses |
6,615,957.68 |
7,515,450.25 |
4,972,975.15 |
|
Total Expenses |
47,684,918.22 |
48,307,424.65 |
55,281,272.42 |
|
Profit before Financial
Expenses & Income Tax |
6,218,418.42 |
4,352,619.99 |
6,673,198.02 |
|
Financial Expenses |
[1,606,029.94] |
[1,694,342.00] |
[1,589,110.20] |
|
Profit before Income Tax |
4,612,388.48 |
2,658,277.99 |
5,084,087.82 |
|
Income Tax |
[1,082,387.61] |
[890,816.03] |
[1,553,340.52] |
|
Net Profit / [Loss] |
3,530,000.87 |
1,767,461.96 |
3,530,747.30 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
20110 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.28 |
1.41 |
1.23 |
|
QUICK RATIO |
TIMES |
0.94 |
0.98 |
0.73 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.84 |
2.68 |
3.27 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.02 |
1.05 |
1.46 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
81.45 |
85.03 |
69.34 |
|
INVENTORY TURNOVER |
TIMES |
4.48 |
4.29 |
5.26 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
66.45 |
83.62 |
60.00 |
|
RECEIVABLES TURNOVER |
TIMES |
5.49 |
4.36 |
6.08 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
78.17 |
87.55 |
68.30 |
|
CASH CONVERSION CYCLE |
DAYS |
69.73 |
81.10 |
61.03 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
74.43 |
74.85 |
80.63 |
|
SELLING & ADMINISTRATION |
% |
14.27 |
17.03 |
10.00 |
|
INTEREST |
% |
2.99 |
3.22 |
2.61 |
|
GROSS PROFIT MARGIN |
% |
25.84 |
25.30 |
20.94 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
11.57 |
8.28 |
10.94 |
|
NET PROFIT MARGIN |
% |
6.57 |
3.36 |
5.79 |
|
RETURN ON EQUITY |
% |
13.94 |
7.79 |
16.88 |
|
RETURN ON ASSET |
% |
6.72 |
3.54 |
8.42 |
|
EARNING PER SHARE |
BAHT |
39.22 |
19.64 |
39.23 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.52 |
0.55 |
0.50 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.07 |
1.20 |
1.00 |
|
TIME INTEREST EARNED |
TIMES |
3.87 |
2.57 |
4.20 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
2.24 |
(13.79) |
|
|
OPERATING PROFIT |
% |
42.87 |
(34.77) |
|
|
NET PROFIT |
% |
99.72 |
(49.94) |
|
|
FIXED ASSETS |
% |
(3.33) |
5.02 |
|
|
TOTAL ASSETS |
% |
5.33 |
18.99 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 2.24%. Turnover has increased from THB
52,582,064.74 in 2012 to THB 53,761,332.28 in 2013. While net profit has
increased from THB 1,767,461.96 in 2012 to THB 3,530,000.87 in 2013. And total
assets has increased from THB 49,865,988.71 in 2012 to THB 52,523,419.43 in
2013.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
25.84 |
Deteriorated |
Industrial Average |
64.77 |
|
Net Profit Margin |
6.57 |
Satisfactory |
Industrial Average |
7.33 |
|
Return on Assets |
6.72 |
Satisfactory |
Industrial Average |
8.96 |
|
Return on Equity |
13.94 |
Acceptable |
Industrial Average |
22.94 |
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 25.84%. 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 6.57%.
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 6.72%
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 13.94%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.28 |
Satisfactory |
Industrial Average |
1.32 |
|
Quick Ratio |
0.94 |
|
|
|
|
Cash Conversion Cycle |
69.73 |
|
|
|
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 1.28 times in 2013, decrease from 1.41 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 0.94 times in 2013,
decrease from 0.98 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 70 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.52 |
Impressive |
Industrial Average |
0.76 |
|
Debt to Equity Ratio |
1.07 |
Satisfactory |
Industrial Average |
1.80 |
|
Times Interest Earned |
3.87 |
Impressive |
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 higher the percentage means that the company is
using less equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 3.88 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 0.52 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 Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.84 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.02 |
Acceptable |
Industrial Average |
1.58 |
|
Inventory Conversion Period |
81.45 |
|
|
|
|
Inventory Turnover |
4.48 |
Acceptable |
Industrial Average |
8.16 |
|
Receivables Conversion Period |
66.45 |
|
|
|
|
Receivables Turnover |
5.49 |
Acceptable |
Industrial Average |
7.69 |
|
Payables Conversion Period |
78.17 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.49 and 4.36 in
2013 and 2012 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 2013
increased from 2012. 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 decreased from 85 days at the
end of 2012 to 81 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 4.29 times in year 2012 to 4.48 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.02 times and 1.05
times in 2013 and 2012 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 Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.65 |
|
|
1 |
Rs.99.21 |
|
Euro |
1 |
Rs.82.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NNA |
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.