MIRA INFORM REPORT
|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
KRISHMA GLOVES LIMITED |
|
|
|
|
Registered Office : |
145/1 Moo 6, T. Banglamung, A. Banglamung,
Chonburi 20150, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
30.04.2007 |
|
|
|
|
Com. Reg. No.: |
0205550008619 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is
engaged in manufacturing, distributing and
exporting various kinds
of gloves for
safety and personal
protection and general
industrial used. The
products are Cotton
Gloves, TC Gloves,
Polyester Gloves, Nylon
Gloves, Microtech Gloves,
Kevlar Gloves and
Dyneema Gloves. |
|
|
|
|
No. of Employees : |
65 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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
KRISHMA GLOVES
LIMITED
SUMMARY
BUSINESS
ADDRESS : 145/1
MOO 6, T. BANGLAMUNG, A. BANGLAMUNG,
CHONBURI 20150,
THAILAND
TELEPHONE : [66] 38
170-173
FAX :
[66] 38
170-174
E-MAIL
ADDRESS : sale@krishmagloves.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2007
REGISTRATION
NO. : 0205550008619
TAX
ID NO. : 3032626644
CAPITAL REGISTERED : BHT. 20,000,000
CAPITAL PAID-UP : BHT.
20,000,000
SHAREHOLDER’S PROPORTION : THAI :
14.00%
INDIAN
: 86.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. GURUSAMY BALAKRISHNAN,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 65
LINES
OF BUSINESS : SAFETY AND
PERSONAL PROTECTION GLOVES
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 April
30, 2007 as
a private limited
company under the
registered name KRISHMA
GLOVES LIMITED, by
Thai and Indian
groups, with the
business objective to
manufacture and supply
industrial gloves for
safety and personal
protection to both
domestic and international
markets. It currently
employs 65 staff.
The
subject’s registered address
is 145/1 Moo 6, T.
Banglamung, A. Banglamung, Chonburi
20150, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Sumal Katawethitawong |
|
Thai |
59 |
|
Mr. Gurusamy Balakrishnan |
|
Indian |
54 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Gurusamy Balakrishnan is
the Managing Director.
He is Indian
nationality with the
age of 54
years old.
Ms. Sumal Katawethitawong is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 59
years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of gloves for
safety and personal
protection and general
industrial used. The
products are Cotton
Gloves, TC Gloves,
Polyester Gloves, Nylon
Gloves, Microtech Gloves,
Kevlar Gloves and
Dyneema Gloves.
BRAND NAME
“KRISHMA”
PURCHASE
Raw materials such as cotton
yarn, cotton fabric
and nylon fabric
are purchased from suppliers both
domestic and overseas,
mainly in Republic
of China, Australia
and India.
SALES
80% of the
products is sold
locally by wholesalers,
manufacturers and end-users,
the remaining 20%
is exported to
U.S.A., Hong Kong, Republic
of China, Japan,
India, Indonesia, Vietnam
and the country
in Europe and
Middle East.
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 currently employs
65 office staff
and factory workers.
LOCATION
DETAILS
The
premise is owned for
administrative office, factory
and warehouse at
the heading address.
Premise is located
in provincial.
COMMENT
Subject
was formed in 2007
as a manufacturer, distributor and exporter of gloves for household
and industrial users. The products
have been served
to both domestic and
overseas. Subject posted
its moderate sales
in 2012, while demand
of the products
were strong.
However,
business outlook in
2014 seems to grow
slowly from economy
sluggish, shrinking local
consumption and slow
expansion of industrial
sector which would
have an impact on the subject’s
business performance.
FINANCIAL
INFORMATION
The
capital was registered at Bht. 1,000,000 divided
into 100,000 shares of Bht.
10 each with
fully paid.
The
capital was increased
later as follows:
Bht. 4,000,000
on October 3,
2008
Bht. 20,000,000
on September 1,
2010
The
latest registered capital
was increased to
Bht. 20,000,000 divided into
2,000,000 shares of
Bht. 10 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Gurusamy Balakrishnan Nationality: Indian Address : 744
Moo 4, T. Surasak,
A. Sriracha, Chonburi |
1,000,000 |
50.00 |
|
Mrs. Iswari Balakrishnan Nationality: Indian Address : 744
Moo 4, T. Surasak,
A. Sriracha,
Chonburi |
600,000 |
30.00 |
|
Ms. Sumal Katawethitawong Nationality: Thai Address : 744
Moo 4, T. Surasak,
A. Sriracha, Chonburi |
280,000 |
14.00 |
|
Mr. Kirish Kanna Balakrishnan Nationality: Indian Address : 744
Moo 4, T. Surasak,
A. Sriracha, Chonburi |
120,000 |
6.00 |
Total Shareholders : 4
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
280,000 |
14.00 |
|
Foreign - Indian |
3 |
1,720,000 |
86.00 |
|
Total |
4 |
2,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Pornpimol
Kasemsantipong No. 9215
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 |
18,925.47 |
3,445,693.02 |
19,546.29 |
|
Trade Accounts & Other Receivable |
8,250,768.91 |
5,087,523.97 |
5,053,207.33 |
|
Inventories |
6,323,827.99 |
5,911,331.99 |
5,404,489.47 |
|
Other Current Assets
|
10,542.00 |
10,407.47 |
755.36 |
|
|
|
|
|
|
Total Current Assets
|
14,604,064.37 |
14,454,956.45 |
10,477,998.45 |
|
|
|
|
|
|
Fixed Assets |
37,029,297.08 |
33,476,518.56 |
27,661,582.65 |
|
Other Non-current Assets |
200,000.00 |
202,500.00 |
202,500.00 |
|
Total Assets |
51,833,361.45 |
48,133,975.01 |
38,342,081.10 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term
Loan from Financial Institutions |
78,766.11 |
- |
138,038.48 |
|
Trade Accounts & Other Payable |
3,222,844.95 |
4,654,650.24 |
548,594.38 |
|
Current Portion of Long-term
Loans |
83,345.00 |
999,996.00 |
999,996.00 |
|
Current Portion of Financial
Lease Contract Liabilities |
349,354.48 |
- |
58,094.25 |
|
Short-term Loans |
25,241,018.79 |
21,139,230.99 |
15,351,520.86 |
|
Accrued Income Tax |
156,880.06 |
215,865.57 |
48,825.02 |
|
|
|
|
|
|
Total Current Liabilities |
29,132,209.39 |
27,009,742.80 |
17,145,068.99 |
|
|
|
|
|
|
Long-term Liabilities, net |
- |
83,345.00 |
1,083,341.00 |
|
Financial Lease Contract
Liabilities, Net |
491,041.33 |
- |
- |
|
Other Non-current Liabilities |
1,348.20 |
- |
- |
|
Total Liabilities |
29,624,598.92 |
27,093,087.80 |
18,228,409.99 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 2,000,000 shares |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
|
|
|
|
|
Capital Paid |
20,000,000.00 |
20,000,000.00 |
20,000,000.00 |
|
Retained Earning - Unappropriated |
2,208,762.53 |
1,040,887.21 |
113,671.11 |
|
Total Shareholders' Equity |
22,208,762.53 |
21,040,887.21 |
20,113,671.11 |
|
Total Liabilities &
Shareholders' Equity |
51,833,361.45 |
48,133,975.01 |
38,342,081.10 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
71,385,433.36 |
55,597,673.03 |
31,769,270.38 |
|
Other Income |
78,513.97 |
88,054.58 |
1,226,234.14 |
|
Total Revenues |
71,463,947.33 |
55,685,727.61 |
32,995,504.52 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Change in Finished Goods and Work in
Process |
[1,111,222.06] |
420,030.34 |
[111,173.67] |
|
Raw Material and Material Supplies |
50,566,938.89 |
40,834,984.75 |
17,798,948.20 |
|
Purchase and Other Expenses |
18,201,808.46 |
11,427,692.09 |
8,974,433.55 |
|
Depreciation and Amortization |
336,219.10 |
266,653.88 |
238,868.23 |
|
Other Expenses |
1,889,049.34 |
1,310,679.53 |
937,119.69 |
|
Total Expenses |
69,882,793.73 |
54,260,040.59 |
27,838,196.00 |
|
Profit / [Loss] before
Financial Cost & Income Tax |
1,581,153.60 |
1,425,687.02 |
5,157,308.52 |
|
Financial Cost |
[56,746.07] |
[101,092.40] |
[161,449.43] |
|
Profit / [Loss] before Income Tax |
1,524,407.53 |
1,324,594.62 |
4,995,859.09 |
|
Income Tax |
[356,532.21] |
[397,378.52] |
[48,841.56] |
|
Net Profit / [Loss] |
1,167,875.32 |
927,216.10 |
4,947,017.53 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.50 |
0.54 |
0.61 |
|
QUICK RATIO |
TIMES |
0.28 |
0.32 |
0.30 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.93 |
1.66 |
1.15 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.38 |
1.16 |
0.83 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
45.65 |
52.84 |
110.83 |
|
INVENTORY TURNOVER |
TIMES |
8.00 |
6.91 |
3.29 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
42.19 |
33.40 |
58.06 |
|
RECEIVABLES TURNOVER |
TIMES |
8.65 |
10.93 |
6.29 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
23.26 |
41.61 |
11.25 |
|
CASH CONVERSION CYCLE |
DAYS |
64.57 |
44.63 |
157.64 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
70.84 |
73.45 |
56.03 |
|
SELLING & ADMINISTRATION |
% |
25.97 |
21.03 |
29.00 |
|
INTEREST |
% |
0.08 |
0.18 |
0.51 |
|
GROSS PROFIT MARGIN |
% |
29.27 |
26.71 |
47.83 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.21 |
2.56 |
16.23 |
|
NET PROFIT MARGIN |
% |
1.64 |
1.67 |
15.57 |
|
RETURN ON EQUITY |
% |
5.26 |
4.41 |
24.60 |
|
RETURN ON ASSET |
% |
2.25 |
1.93 |
12.90 |
|
EARNING PER SHARE |
BAHT |
0.58 |
0.46 |
2.47 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.57 |
0.56 |
0.48 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.33 |
1.29 |
0.91 |
|
TIME INTEREST EARNED |
TIMES |
27.86 |
14.10 |
31.94 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
28.40 |
75.00 |
|
|
OPERATING PROFIT |
% |
10.90 |
(72.36) |
|
|
NET PROFIT |
% |
25.96 |
(81.26) |
|
|
FIXED ASSETS |
% |
10.61 |
21.02 |
|
|
TOTAL ASSETS |
% |
7.69 |
25.54 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 28.4%. Turnover has increased from THB 55,597,673.03
in 2011 to THB 71,385,433.36 in 2012. While net profit has increased from THB
927,216.10 in 2011 to THB 1,167,875.32 in 2012. And total assets has increased
from THB 48,133,975.01 in 2011 to THB 51,833,361.45 in 2012.
PROFITABILITY : EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
29.27 |
Impressive |
Industrial
Average |
23.59 |
|
Net Profit Margin |
1.64 |
Impressive |
Industrial
Average |
(0.39) |
|
Return on Assets |
2.25 |
Impressive |
Industrial
Average |
(0.39) |
|
Return on Equity |
5.26 |
Impressive |
Industrial
Average |
(1.31) |
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 29.27%. 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 1.64%, 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
2.25%, higher figure when compared with those of its average competitors
in the same industry, indicated that business was an efficient profits 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 5.26%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.50 |
Risky |
Industrial
Average |
1.44 |
|
Quick Ratio |
0.28 |
|
|
|
|
Cash Conversion Cycle |
64.57 |
|
|
|
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 0.5 times in 2012, decreased from 0.54 times, then the company may not be
efficiently using its current assets. 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 0.28 times in 2012,
decreased from 0.32 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 65 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.57 |
Impressive |
Industrial
Average |
0.70 |
|
Debt to Equity Ratio |
1.33 |
Satisfactory |
Industrial
Average |
2.37 |
|
Times Interest Earned |
27.86 |
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 27.87 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 0.57 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.93 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.38 |
Impressive |
Industrial
Average |
1.01 |
|
Inventory Conversion Period |
45.65 |
|
|
|
|
Inventory Turnover |
8.00 |
Impressive |
Industrial
Average |
1.98 |
|
Receivables Conversion Period |
42.19 |
|
|
|
|
Receivables Turnover |
8.65 |
Impressive |
Industrial
Average |
4.26 |
|
Payables Conversion Period |
23.26 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.65 and 10.93 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 53 days at the
end of 2011 to 46 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 6.91 times in year 2011 to 8 times in
year 2012.
The company's Total Asset Turnover is calculated as 1.38 times and 1.16
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 Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIS |
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.