MIRA INFORM REPORT
|
Report Date : |
18.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HUTEK [ASIA] CO., LTD. |
|
|
|
|
Registered Office : |
91 Soi Akkaphat [Thonglor 17], Sukhumvit Road, North Klongton, Wattana, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.03.2000 |
|
|
|
|
Com. Reg. No.: |
0105543028732 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Distributor of climate control equipment |
|
|
|
|
No of Employees : |
120 |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 (30.09.2013) |
Current Rating (01.12.2013) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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
HUTEK [ASIA] CO.,
LTD.
SUMMARY
BUSINESS ADDRESS : 91
SOI AKKAPHAT [THONGLOR 17],
SUKHUMVIT ROAD, NORTH
KLONGTON,
WATTANA, BANGKOK 10110, THAILAND
TELEPHONE : [66] 2185-2831-4
FAX : [66] 2712-6100
E-MAIL ADDRESS : info@hutek-asia.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2000
REGISTRATION NO. : 0105543028732
TAX ID NO. : 3030072245
CAPITAL REGISTERED : BHT.
5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI
: 99.00%
SWEDISH :
1.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PREPOND BANDITYANOND,
THAI
MANAGING DIRECTOR
NO. OF STAFF : 120
LINES OF BUSINESS : CLIMATE CONTROL
EQUIPMENT
MANUFACTURER, 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 March
21, 2000 as
a private limited
company under the registered
name HUTEK [ASIA]
CO., LTD. by
Thai and Swedish groups. Its
business objective is
to manufacture climate control
equipment for both
local and overseas
markets. It currently employs
approximately 120 staff.
The subject’s registered
address is 91
Soi Akkaphat [Thonglor 17],
Sukhumvit Rd., North
Klongton, Wattana, Bangkok
10110, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Prepond Bandityanond :
Chairman |
[x] |
Thai |
73 |
|
Mrs. Daranee Bandityanond |
[x] |
Thai |
75 |
|
Mr. Prinyawut Bandityanond |
[x] |
Thai |
40 |
|
Mr. Sune Torvald Bostrom |
|
Swedish |
63 |
AUTHORIZED PERSON
Any two of
the above directors
[x] can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Prepond Bandityanond is
the Managing Director.
He is Thai
nationality with the
age of 73
years old.
Mr. Prinyawut Bandityanond is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 40
years old.
Mrs. Supawadee Vongvorachatkul is
the Sales & Marketing Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in
manufacturing and distributing of climate control equipment, such
as evaporative cooling
system, dehumidifier, humidifier
and energy recovery
unit, under its
own brand “HUTEK”.
Its products are supplied to
agro-business and industrial
factory.
The subject
also provides consulting
service for temperature
and humidity control
system as well
as energy saving
issues.
PURCHASE
80% of its
raw materials and
components are imported
from Finland, Sweden
and Germany, the remaining 20%
is purchased from
local suppliers.
MAJOR SUPPLIER
Pro Flute AB. : Sweden
SALES
The products are
sold to customers
both local and
overseas in Asia
and Europe, e.g. Indonesia,
India, Republic of
China, Malaysia, Germany,
Sweden, U.S.A., Japan,
Spain, Italy, U.K.,
Korea, Turkey and
France.
RELATED AND
AFFILIATED COMPANY
Utile Engineering International
Co., Ltd.
Business Type :
Design, installation and
distributor of climate
control equipment
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 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.
The Siam Commercial
Bank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 120 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Factory and warehouse
are located at
76 Moo 5,
Thaipipat Rd., T. Hmuang,
A. Muang, Chonburi
20130. Tel :
[66] 38 394-071-5
COMMENT
The subject manufactures world-class
climate control equipments
and other related
products to various
industries. The subject’s business
performance in 2012
was considered good.
Despite, many industries’ expansion are slowing
down, the subject
is still in positive
condition as its
sales in the
year 2013 remained brisk.
FINANCIAL INFORMATION
The capital was
registered at Bht. 5,000,000 divided into 50,000 shares of
Bht. 100 each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Prepond Bandityanond Nationality: Thai Address : 8
Sukhumvit Rd., Klongtonnua,
Wattana, Bangkok |
25,496 |
51.00 |
|
Mr. Prinyawut Bandityanond Nationality: Thai Address : 8
Sukhumvit Rd., Klongtonnua,
Wattana, Bangkok |
24,001 |
48.00 |
|
Mr. Sune Torvald Bostrom Nationality: Swedish Address : Stockholm,
Sweden |
125 |
0.25 |
|
Mr. Lennart Ohman Nationality: Swedish Address : Sweden |
125 |
0.25 |
|
Mr. Perquan Aronson Nationality : Swedish Address : Sweden |
125 |
0.25 |
|
Mr. Zoren Mann Nationality: Swedish Address :
Sweden |
125 |
0.25 |
|
Mrs. Daranee Bandityanond Nationality: Thai Address : 8
Sukhumvit Rd., Klongtonnua,
Wattana, Bangkok |
1 |
- |
|
Mr. Preedapond Bandityanond Nationality: Thai Address : 8 Sukhumvit Rd.,
Klongtonnua,
Wattana, Bangkok |
1 |
- |
|
Ms. Ariya Bandityanond Nationality: Thai Address : 91
Sukhumvit 55 Rd.,
Klongtonnua,
Wattana, Bangkok |
1 |
- |
Total Shareholders : 9
Share
Structure [as at
April 30, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
49,500 |
99.00 |
|
Foreign-Swedish |
4 |
500 |
1.00 |
|
Total |
9 |
50,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Nawat Horwattananand No.
9305
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 |
30,179,051.62 |
47,325,581.99 |
36,155,027.37 |
|
Trade Accounts & Other Receivable |
45,123,987.65 |
58,025,651.79 |
40,633,307.94 |
|
Inventories |
47,702,052.28 |
47,376,632.90 |
46,093,051.01 |
|
Other Current Assets
|
- |
- |
11,642,938.30 |
|
|
|
|
|
|
Total Current Assets
|
123,005,091.55 |
152,727,866.68 |
134,524,324.62 |
|
Other Long-term Investment |
3,000.00 |
3,000.00 |
32,509,950.26 |
|
Fixed Assets |
31,577,089.47 |
26,735,772.24 |
- |
|
Other Non-current Assets |
40,796.18 |
1.00 |
4,011.00 |
|
Total Assets |
154,625,977.20 |
179,466,639.92 |
167,038,285.88 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other Payable |
98,850,703.29 |
131,220,681.77 |
88,735,589.17 |
|
Current Portion of Financial
Lease Payable |
124,796.40 |
119,143.89 |
113,747.59 |
|
Accrued Income Tax |
540,786.41 |
262,926.64 |
- |
|
Other Current Liabilities |
- |
- |
34,940,773.35 |
|
|
|
|
|
|
Total Current Liabilities |
99,516,286.10 |
131,602,752.30 |
123,790,110.11 |
|
Financial Lease Payable, Net |
130,716.63 |
255,513.03 |
374,656.92 |
|
Total Liabilities |
99,647,002.73 |
131,858,265.33 |
124,164,767.03 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning -
Unappropriated |
49,978,974.47 |
42,608,374.59 |
37,873,518.85 |
|
Total Shareholders' Equity |
54,978,974.47 |
47,608,374.59 |
42,873,518.85 |
|
Total Liabilities &
Shareholders' Equity |
154,625,977.20 |
179,466,639.92 |
167,038,285.88 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
381,221,879.54 |
338,817,696.44 |
328,986,701.56 |
|
Interest Income |
- |
- |
302,995.83 |
|
Gain on Exchange Rate |
- |
- |
165,705.98 |
|
Other Income |
13,090,816.21 |
17,800,059.18 |
11,443,780.09 |
|
Total Revenues |
394,312,695.75 |
356,617,755.62 |
340,899,183.46 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
280,346,919.86 |
271,097,838.92 |
251,409,360.20 |
|
Selling Expenses |
80,039,966.79 |
55,438,855.07 |
53,188,781.04 |
|
Administrative Expenses |
23,968,240.01 |
23,305,717.65 |
25,471,449.52 |
|
Total Expenses |
384,355,126.66 |
349,842,411.64 |
330,069,590.76 |
|
Profit before Financial Cost & Income Tax |
9,957,569.09 |
6,775,343.98 |
10,829,592.70 |
|
Financial Cost |
[202,336.26] |
[246,860.46] |
[311,450.52] |
|
Profit before Income Tax |
9,755,232.83 |
6,528,483.52 |
10,518,142.18 |
|
Income Tax |
[2,384,632.95] |
[1,793,627.78] |
[3,019,175.67] |
|
Net Profit / [Loss] |
7,370,599.88 |
4,734,855.74 |
7,498,966.51 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.24 |
1.16 |
1.09 |
|
QUICK RATIO |
TIMES |
0.76 |
0.80 |
0.62 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
12.07 |
12.67 |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.47 |
1.89 |
1.97 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
62.11 |
63.79 |
66.92 |
|
INVENTORY TURNOVER |
TIMES |
5.88 |
5.72 |
5.45 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
43.20 |
62.51 |
45.08 |
|
RECEIVABLES TURNOVER |
TIMES |
8.45 |
5.84 |
8.10 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
128.70 |
176.67 |
128.83 |
|
CASH CONVERSION CYCLE |
DAYS |
(23.39) |
(50.38) |
(16.83) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
73.54 |
80.01 |
76.42 |
|
SELLING & ADMINISTRATION |
% |
27.28 |
23.24 |
23.91 |
|
INTEREST |
% |
0.05 |
0.07 |
0.09 |
|
GROSS PROFIT MARGIN |
% |
29.89 |
25.24 |
27.20 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.61 |
2.00 |
3.29 |
|
NET PROFIT MARGIN |
% |
1.93 |
1.40 |
2.28 |
|
RETURN ON EQUITY |
% |
13.41 |
9.95 |
17.49 |
|
RETURN ON ASSET |
% |
4.77 |
2.64 |
4.49 |
|
EARNING PER SHARE |
BAHT |
147.41 |
94.70 |
149.98 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.64 |
0.73 |
0.74 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.81 |
2.77 |
2.90 |
|
TIME INTEREST EARNED |
TIMES |
49.21 |
27.45 |
34.77 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
12.52 |
2.99 |
|
|
OPERATING PROFIT |
% |
46.97 |
(37.44) |
|
|
NET PROFIT |
% |
55.67 |
(36.86) |
|
|
FIXED ASSETS |
% |
18.11 |
- |
|
|
TOTAL ASSETS |
% |
(13.84) |
7.44 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is 12.52%. Turnover has increased from THB
338,817,696.44 in 2011 to THB 381,221,879.54 in 2012. While net profit has
increased from THB 4,734,855.74 in 2011 to THB 7,370,599.88 in 2012. And total
assets has decreased from THB 179,466,639.92 in 2011 to THB 154,625,977.20 in
2012.
PROFITABILITY
: SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
29.89 |
Deteriorated |
Industrial Average |
65.51 |
|
Net Profit Margin |
1.93 |
Satisfactory |
Industrial Average |
2.29 |
|
Return on Assets |
4.77 |
Acceptable |
Industrial Average |
7.02 |
|
Return on Equity |
13.41 |
Impressive |
Industrial Average |
10.12 |
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 29.89%. 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 1.93%.
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 4.77%.
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 13.41%, 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 Uptrend
LIQUIDITY
: ACCEPTABLE
LIQUIDITY
RATIO
|
Current Ratio |
1.24 |
Deteriorated |
Industrial Average |
3.75 |
|
Quick Ratio |
0.76 |
|
|
|
|
Cash Conversion Cycle |
(23.39) |
|
|
|
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 1.24 times in 2012, increase from 1.16 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 0.76 times in 2012,
decrease from 0.8 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 -24 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: ACCEPTABLE
LEVERAGE
RATIO
|
Debt Ratio |
0.64 |
Acceptable |
Industrial Average |
0.30 |
|
Debt to Equity Ratio |
1.81 |
Risky |
Industrial Average |
0.44 |
|
Times Interest Earned |
49.21 |
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 49.22 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 0.64 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
: IMPRESSIVE
ACTIVITY
RATIO
|
Fixed Assets Turnover |
12.07 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.47 |
Satisfactory |
Industrial Average |
3.07 |
|
Inventory Conversion Period |
62.11 |
|
|
|
|
Inventory Turnover |
5.88 |
Satisfactory |
Industrial Average |
7.59 |
|
Receivables Conversion Period |
43.20 |
|
|
|
|
Receivables Turnover |
8.45 |
Impressive |
Industrial Average |
5.94 |
|
Payables Conversion Period |
128.70 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.45 and 5.84 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 has decreased from 64 days at the
end of 2011 to 62 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 5.72 times in year 2011 to 5.88 times
in year 2012.
The company's Total Asset Turnover is calculated as 2.47 times and 1.89
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
|
Key Areas |
Score |
Weight |
Weighted
Score |
|
LIQUIDITY RATIO |
1.33 |
25.00 |
33.25 |
|
ACTIVITY RATIO |
3.33 |
20.00 |
66.60 |
|
PROFITABILITY
RATIO |
2.00 |
25.00 |
50.00 |
|
LEVERAGE RATIO |
1.78 |
10.00 |
17.80 |
|
ANNUAL GROWTH |
3.20 |
20.00 |
64.00 |
|
Total Weight
(excluding - - Score) |
|
100.00 |
|
|
|
|
|
231.65 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.38 |
|
|
1 |
Rs. 101.63 |
|
Euro |
1 |
Rs. 83.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.