MIRA
INFORM REPORT
|
Report Date : |
18.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIAM FIBREBOARD COMPANY LIMITED |
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Registered Office : |
417/112-113 Moo 1, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
16.01.2004 |
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Com. Reg. No.: |
0105547007195 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged
in manufacturing, exporting
and distributing wide
range of Medium Density Fibre Board [MDF] and
Particle Board, which are made from rubber
wood. |
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No. of Employees |
320 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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|
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
With a well-developed infrastructure, a free-enterprise
economy, generally pro-investment policies, and strong export industries,
|
Source
: CIA |
Company name
SIAM FIBREBOARD
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 417/112-113 MOO 1,
T. PATONG,
A. HADYAI, SONGKHLA
90230,
TELEPHONE : [66] 74
291-111, 74 291-555,
085-898-0141
FAX :
[66] 74
370-253-4
E-MAIL
ADDRESS : pranee@siamfibreboard.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2004
REGISTRATION
NO. : 0105547007195
TAX
ID NO. : 3031259898
CAPITAL REGISTERED : BHT. 367,000,000
CAPITAL PAID-UP : BHT.
367,000,000
SHAREHOLDER’S PROPORTION : MALAYSIAN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KUO JEN
CHANG, CHINESE
MANAGING DIRECTOR
NO.
OF STAFF : 320
LINES
OF BUSINESS : MDF
BOARD AND PARTICLE
BOARD
MANUFACTURER,
DISTRIBUTOR AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established on January 16,
2004 as a
private limited company under
the registered name SIAM FIBREBOARD
COMPANY LIMITED by Evergreen Fibreboard Berhad, Malaysia and MP
Particle Board Co., Ltd.,
Thailand, with the business
objective to manufacture
MDF board and
particle board to
both domestic and
international markets. It
currently employs approximately
320 staff.
At
present, the subject
is a wholly
owned subsidiary of
Evergreen Fibreboard Berhad,
Malaysia, and is
also a member
of Evergreen group,
a leading company
in the
manufacturing of
medium density fiberboard.
The
subject’s registered address
is 417/112-113 Moo 1,
A.
Hadyai, Songkhla 90230,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kuo Jen Chang |
[x] |
Chinese |
50 |
|
Mr. Chieng Heng Nang |
[x] |
Malaysian |
44 |
|
Mr. Kuo Jen Chlu |
|
Singaporean |
47 |
|
Ms. Kuo Huel Chen |
|
Singaporean |
53 |
|
Mr. Lee Kwok Choy |
|
Malaysian |
60 |
AUTHORIZED PERSON
Any of the
mentioned directors [x]
can sign or
any of the
mentioned directors [x]
can jointly sign
with anyone of
the rest directors
on behalf of the subject
with company’s affixed.
MANAGEMENT
Mr. Kuo Jen Chang
is the Managing
Director.
He is Chinese
nationality with the
age of 50 years
old.
Mr. Chieng Heng Nang
is the Deputy
Managing Director.
He is Malaysian
nationality with the
age of 44
years old.
Mr. Yongyuth Sirinam is
the Factory Manager.
He is Thai
nationality.
Ms. Wannipa Saisalam is
the Sales & Marketing Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, exporting
and distributing wide
range of
Medium Density Fibre Board [MDF] and Particle Board, which
are made from rubber
wood.
PRODUCTION CAPACITY
700,000 cubic meters
per annum
PURCHASE
Most of raw
materials mainly rubber
wood are purchased
from local suppliers,
and the remaining
is imported from
Malaysia, Myanmar and Indonesia.
MAJOR
SUPPLIERS
Evergreen
Fibreboard Sdn. Bhd. :
Evergreen Adhesive and
Chemicals [Guran] Sdn. Bhd. :
EXPORT [COUNTRIES]
90% of the
products is exported
to Malaysia, Singapore,
Republic of China,
Indonesia, Hong Kong, Taiwan,
Vietnam, Philippines, India,
Pakistan, South Korea,
Australia and Europe.
SALES [LOCAL]
10% of the
products is also
sold locally to manufactures, wholesalers
and end-users.
SUBSIDIARY AND AFFILIATED
COMPANIES
Gre Energy Co.,
Ltd.
Business Type : Power
plant
Eco Generation Co.,
Ltd.
Business Type : Power
plant
Asian Oak Co.,
Ltd.
Business Type : Distributor
of furniture
Dynea Krabi Co.,
Ltd.
Business Type : Manufacturer
of chemicals
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
L/C at sight
or T/T.
Exports are against
L/C at sight
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Thanachart
Bank Public Co.,
Ltd. : Hadyai
Branch
EMPLOYMENT
The
subject employs approximately
320 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial,
in the Southern
region.
COMMENT
MDF Board
has been used
in various industries
such as furniture,
decoration and construction.
During the past
few years demand
of MDF Board
has rapidly grown
from strong demand
of construction industry
and property business.
However,
since the last
quarter of 2013 the political
uncertainty and government
instability, many large
and huge projects
have been halted,
while minor work
and small project
have continued tracking.
FINANCIAL INFORMATION
The
capital was initially
registered at Bht.
100,000 divided into
1,000 shares of Bht.
100 each.
The
capital was increased / decreased as the followings:
Bht. 367,000,000
on February 26,
2004
Bht. 330,300,000
on May 18, 2011
Bht. 367,000,000
on August 26,
2011
The
latest registered capital
was increased to
Bht. 367,000,000 divided
into 3,670,000 shares
of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Evergreen Fibreboard Berhad Nationality: Malaysian Address : Suite
6.1A Level 6, Jalan Menara Pelangi, Kuning,
Taman Pelangi, 80400 Johor Bahru, Johor, Malaysia |
3,669,998 |
100.00 |
|
Mr. Chieng Heng Nang Nationality: Malaysian Address : 123
Soi 10 Petchkasem
Rd., T. Hadyai,
A. Hadyai,
Songkhla |
1 |
- |
|
Mr. Lee Kwok Choy Nationality: Malaysian Address : 123
Soi 10 Petchkasem
Rd., T. Hadyai,
A. Hadyai,
Songkhla |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Malaysian |
3 |
3,670,000 |
100.00 |
|
Total |
3 |
3,670,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Yanyong Methapanich No.
4002
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
62,966,157.23 |
187,389,743.58 |
138,200,358.24 |
|
Trade Accounts Receivable |
271,857,818.12 |
248,229,205.92 |
331,850.22 |
|
Other company |
42,808,649.72 |
107,897,502.46 |
169,719,386.85 |
|
Current Portion of Long- term Lending to
Related Company |
27,330,000.00 |
- |
121,000,000.00 |
|
Inventories |
217,467,622.24 |
232,292,187.91 |
243,065,184.84 |
|
Other Current Assets
|
- |
- |
82,979,957.35 |
|
Total Current Assets
|
622,430,247.31 |
775,808,639.87 |
755,296,737.50 |
|
Investment in Subsidiaries |
109,299,700.00 |
79,999,700.00 |
79,999,700.00 |
|
Long-term Lending to Related Company |
245,970,000.00 |
153,300,000.00 |
- |
|
Real Estate for
Investment |
9,520,150.49 |
9,520,150.49 |
9,520,150.49 |
|
Fixed Assets |
1,952,477,447.95 |
2,111,758,726.17 |
2,300,622,643.76 |
|
Intangible Assets |
1,537,790.19 |
1,774,707.75 |
2,011,625.38 |
|
Guarantee - Related company |
21,000,000.00 |
21,000,000.00 |
21,000,000.000 |
|
Total Assets |
2,962,235,335.94 |
3,153,161,924.28 |
3,168,450,857.13 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Short-term Loan from
Financial Institution |
400,000,000.00 |
350,000,000.00 |
200,000,000.00 |
|
Trade Accounts Payable |
254,759,6347.39 |
180,660,410.92 |
180,877,793.11 |
|
Other company |
121,895,865.85 |
119,587,411.72 |
57,140,691.65 |
|
Current Portion of Hire-purchase Payable |
1,625,179.89 |
188,371.59 |
2,740,746.71 |
|
Current Portion of Long-term
Loan |
122,943,341.86 |
241,383,426.50 |
117,600,000.00 |
|
Other Current Liabilities |
- |
- |
107,361,857.17 |
|
Total Current Liabilities |
901,223,734.99 |
891,819,620.73 |
665,721,088.64 |
|
Hire-purchase Payable, Net |
3,146,590.87 |
428,982.88 |
64,986.46 |
|
Long-term Loan, Net |
132,911,289.73 |
90,494,781.08 |
433,702,098.75 |
|
Obligation for Employee
Benefits |
3,277,621.00 |
2,883,496.00 |
2,589,655.00 |
|
Total Liabilities |
1,040,559,236.59 |
985,626,880.69 |
1,102,077,828.85 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 3,670,000 shares |
367,000,000.00 |
367,000,000.00 |
367,000,000.00 |
|
|
|
|
|
|
Capital Paid |
367,000,000.00 |
367,000,000.00 |
367,000,000.00 |
|
Premium on Share Capital |
36,700,000.00 |
36,700,000.00 |
36,700,000.00 |
|
Retained Earning Appropriated for
Statutory Reserve |
3,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
Unappropriated |
1,514,976,099.35 |
1,760,835,043.59 |
1,659,673,028.28 |
|
Total Shareholders' Equity |
1,921,676,099.35 |
2,167,535,043.59 |
2,066,373,028.28 |
|
Total Liabilities &
Shareholders' Equity |
2,962,235,335.94 |
3,153,161,924.28 |
3,168,450,857.13 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
2,791,108,512.17 |
3,226,707,264.87 |
3,689,160,204.82 |
|
Gain on Exchange
Rate |
- |
36,978,784.55 |
20,096,514.37 |
|
Other Income |
23,147,637.55 |
29,213,425.84 |
18,074,801.25 |
|
Total Revenues |
2,814,256,149.72 |
3,292,899,475.26 |
3,727,331,520.44 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
2,347,193,068.16 |
2,580,905,642.69 |
3,096,170,656.21 |
|
Selling Expenses |
535,390,268.17 |
502,584,330.63 |
586,309,589.85 |
|
Administrative Expenses |
50,828,046.29 |
69,247,379.20 |
57,282,317.84 |
|
Loss on Exchange Rate |
18,021,913.71 |
- |
- |
|
Loss on Devaluation of
Investments in Subsidiaries |
80,000,000.00 |
- |
- |
|
Total Expenses |
3,031,433,296.66 |
3,152,737,352.52 |
3,739,762,563.90 |
|
Profit / [Loss] before
Financial Cost & Income Tax |
[217,177,146.61] |
140,162,122.74 |
[12,431,043.46] |
|
Financial Cost |
[28,647,104.03] |
[30,955,551.73] |
[35,227,369.37] |
|
Income Tax |
[34,693.60] |
[8,044,555.70] |
[923,135.06] |
|
Net Profit / [Loss] |
[245,858,944.24] |
101,162,015.31 |
[48,581,547.89] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.69 |
0.87 |
1.13 |
|
QUICK RATIO |
TIMES |
0.45 |
0.61 |
0.64 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.43 |
1.53 |
1.60 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.94 |
1.02 |
1.16 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
33.82 |
32.85 |
28.65 |
|
INVENTORY TURNOVER |
TIMES |
10.79 |
11.11 |
12.74 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
35.55 |
28.08 |
0.03 |
|
RECEIVABLES TURNOVER |
TIMES |
10.27 |
13.00 |
11,116.94 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
396.16 |
25.55 |
21.32 |
|
CASH CONVERSION CYCLE |
DAYS |
(326.79) |
35.38 |
7.36 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
84.10 |
79.99 |
83.93 |
|
SELLING & ADMINISTRATION |
% |
21.00 |
17.72 |
17.45 |
|
INTEREST |
% |
1.03 |
0.96 |
0.95 |
|
GROSS PROFIT MARGIN |
% |
16.73 |
22.07 |
17.11 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(7.78) |
4.34 |
(0.34) |
|
NET PROFIT MARGIN |
% |
(8.81) |
3.14 |
(1.32) |
|
RETURN ON EQUITY |
% |
(12.79) |
4.67 |
(2.35) |
|
RETURN ON ASSET |
% |
(8.30) |
3.21 |
(1.53) |
|
EARNING PER SHARE |
BAHT |
(66.99) |
27.56 |
(13.24) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.35 |
0.31 |
0.35 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.54 |
0.45 |
0.53 |
|
TIME INTEREST EARNED |
TIMES |
(7.58) |
4.53 |
(0.35) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(13.50) |
(12.54) |
|
|
OPERATING PROFIT |
% |
(254.95) |
(1,227.52) |
|
|
NET PROFIT |
% |
(343.03) |
308.23 |
|
|
FIXED ASSETS |
% |
(7.54) |
(8.21) |
|
|
TOTAL ASSETS |
% |
(6.06) |
(0.48) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -13.5%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
16.73 |
Impressive |
Industrial
Average |
15.94 |
|
Net Profit Margin |
(8.81) |
Deteriorated |
Industrial
Average |
(0.24) |
|
Return on Assets |
(8.30) |
Deteriorated |
Industrial
Average |
(0.39) |
|
Return on Equity |
(12.79) |
Deteriorated |
Industrial
Average |
(1.12) |
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 16.73%. 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 -8.81%.
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 -8.3%.
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 -12.79%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.69 |
Risky |
Industrial
Average |
1.51 |
|
Quick Ratio |
0.45 |
|
|
|
|
Cash Conversion Cycle |
(326.79) |
|
|
|
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 0.69 times in 2013, decreased from 0.87 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 0.45 times in 2013,
decreased from 0.61 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 -327 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.35 |
Impressive |
Industrial
Average |
0.83 |
|
Debt to Equity Ratio |
0.54 |
Impressive |
Industrial
Average |
2.33 |
|
Times Interest Earned |
(7.58) |
Risky |
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 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 -7.59 lower than 1, so the company is not generating
enough cash from EBIT to meet its interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.35 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 Uptrend
Times Interest Earned Stable
ACTIVITY : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.43 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.94 |
Deteriorated |
Industrial
Average |
2.11 |
|
Inventory Conversion Period |
33.82 |
|
|
|
|
Inventory Turnover |
10.79 |
Impressive |
Industrial
Average |
5.34 |
|
Receivables Conversion Period |
35.55 |
|
|
|
|
Receivables Turnover |
10.27 |
Impressive |
Industrial
Average |
8.26 |
|
Payables Conversion Period |
396.16 |
|
|
|
The company's Account Receivable Ratio is calculated as 10.27 and
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 33 days at the
end of 2012 to 34 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 11.11 times in year 2012 to 10.79
times in year 2013.
The company's Total Asset Turnover is calculated as 0.94 times and 1.02
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.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.