MIRA INFORM REPORT

 

 

Report Date :

17.04.2014

 

IDENTIFICATION DETAILS

 

Name :

CHAROEN  ORCHIDS & GARDEN  [SHOP]

 

 

Registered Office :

101/9 Kampaengphet Road, Ladyao, Chatuchak, Bangkok 10900

 

 

Country :

Thailand

 

 

Date of Incorporation :

Not Available 

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Ordinary Shop

 

 

Line of Business :

Importer and Distributor of Flowers and Orchids

 

 

No. of Employees :

2

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Status :

Moderate

Payment Behaviour :

Unknown

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 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Thailand

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

 

CHAROEN  ORCHIDS & GARDEN  [SHOP]

 

 

SUMMARY

 

BUSINESS  ADDRESS                         :           101/9  KAMPAENGPHET  ROAD, 

LADYAO,  CHATUCHAK, 

BANGKOK  10900,  THAILAND

TELEPHONE                                         :           [66]   085  224-2433

FAX                                                      :           [66]   2381-6954

E-MAIL  ADDRESS                               :           charoenorchids@yahoo.com

REGISTRATION  ADDRESS                  :           SAME  AS  BUSINESS  ADDRESS

 

ESTABLISHED                                     :           -

REGISTRATION  NO.                            :           -

TAX  ID  NO.                                         :           -

CAPITAL REGISTERED                         :           -  

CAPITAL PAID-UP                                 :           -  

SHAREHOLDER’S  PROPORTION         :           -

FISCAL YEAR CLOSING DATE              :           -            

LEGAL  STATUS                                   :           ORDINARY  SHOP

EXECUTIVE                                          :           MR. CHAROEN  RATTANA, THAI

                                                                        OWNER           

 

NO.  OF  STAFF                                    :           2

LINES  OF  BUSINESS                          :           FLOWERS  AND  ORCHIDS

                                                                        IMPORTER  AND  DISTRIBUTOR

                                                                         

                                                                         

 

CORPORATE  PROFILE

 

OPERATING  TREND                            :           STABLE                       

PRESENT  SITUATION                          :           OPERATING  NORMALLY                     

REPUTATION                                        :           -

MANAGEMENT  STANDARD                 :           -          

 

 

 

 

 

HISTORY

 

The  subject  was  set  up  many  years  ago  as  an  ordinary  shop under  the  registered  name  CHAROEN  ORCHIDS & GARDEN   by  Mr. Charoen  Rattana,  the  Thai  who  is  the  owner,   with  the  business  objective  to   import  and  distribute  various  kinds  of  flowers  and  orchids.  It  currently  employs  2  staff.  

 

The  subject’s  operating  address  is   101/9  Kampaengphet  Road,  Ladyao,  Chatuchak,  Bangkok  10900.

 

 

MANAGEMENT

 

Mr. Charoen  Rattana  is  the  Owner.

He  is  Thai  nationality.  

 

 

BUSINESS  OPERATIONS

 

The  subject’s  activities  are  importer  and  distributor  various  kinds  of  flowers  such  as  Gerbera,  Lilium,  carnations,  orchids 

 

 

PURCHASE

 

Most  of  the  products  are  purchased  from  local  suppliers,  the  remaining  is  imported  from  India.

 

 

SALES

 

100%  of  the  products  is  sold  locally  by  wholesale  to  end-users  in  Chatuchak  Market  area.

 

 

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  credit  term  of  30  days.

Local  bills  are  paid  by  cash  or  on  the  credits  term  of  30-60  days.

Imports  are  by  T/T.

 

 

EMPLOYMENT

 

The  subject  currently  employs  2  staff. 

 

 

LOCATION   DETAILS

 

The  premise  is  rented  for  administrative  office  at  the  heading  address.  Premise  is  located  at  Chatuchak  Market  area  in  Bangkok.

 

Note:

 

Due  to  the  subject  is  an  ordinary  shop,  financial    is  not  available.

 

Refer  to  your  given  the  company’s  telephone  number,  [66] 2 279-4074/ 55 71  840-5479,  and  086  881-6164,  as  well  as  facsimile  number  [66] 2381-6954,  please  be  informed  that the  above  telephone  numbers  and  facsimile  number  are  owned  by  Kingswood  House [Thailand]  Co.,  Ltd.,  which  is  engaged  in  translation  business.     It  also  provides  document  translation  service  to  the  subject.

 

 

COMMENT

 

As  an  ordinary  shop,  there  is  no  requirement  to  submit  its  financial  statements  to  the  Commercial  Registration  Department.  As  a  result,  the  financial  statement  of  an  ordinary  is  not  available.

 

Without  any  financial  information  of  the  subject,  the  credit  is  not  recommended.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.23

UK Pound

1

Rs.100.79

Euro

1

Rs.83.29

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.