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Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
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Name : |
MMM SHIPPING LIMITED PARTNERSHIP |
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Registered Office : |
132/1 Moo
4, T. Bung, A. Sriracha, Chonburi
20110 |
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Country : |
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Date of Incorporation : |
19.07.2012 |
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Com. Reg. No.: |
0203555004709 |
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Legal Form : |
Limited
Partnership |
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Line of Business : |
Subject is a shipping agency,
providing customs clearance
of inbound/outbound cargo
from port, as
well as transportation services |
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No. of Employees |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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 in 2013 implemented a nation-wide
300 baht ($10) per day minimum wage policy and deployed 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. This was expected to lead to an
economic upsurge but growth has remained slow, in part due to ongoing political
unrest and resulting uncertainties. Spending on infrastructure will require re-approval
once a new government is seated.
Source : CIA
MMM
SHIPPING LIMITED PARTNERSHIP
BUSINESS
ADDRESS : 132/1
MOO 4, T. BUNG,
A. SRIRACHA,
CHONBURI 20110,
THAILAND
TELEPHONE : [66] 38 372-194, 088
244-3789
FAX :
[66] 38
372-194
E-MAIL
ADDRESS : game.abc@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2012
REGISTRATION
NO. : 0203555004709
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
FISCAL YEAR CLOSING DATE : -
LEGAL
STATUS : LIMITED
PARTNERSHIP
EXECUTIVE : MR.
SUNAN WATTANASUK, THAI
MANAGING PARTNER
NO.
OF STAFF : 2
LINES
OF BUSINESS : SHIPPING AND
TRANSPORTING SERVICE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : -
MANAGEMENT
STANDARD : -
HISTORY
The
subject was established
on July 19,
2012 as a
limited partnership under
the name style MMM
SHIPPING LIMITED PARTNERSHIP
by Thai partners,
with the business
objective to provide
shipping and transportation services.
It currently employs
2 staff.
The subject’s registered
address is 132/1
Moo 4, T. Bung,
A. Sriracha, Chonburi 20110,
and this is
the subject’s current
operation address.
AUTHORIZED PERSON
Mr. Sunan Wattanasuk signs
on behalf of
the subject with
seal affixed. He
also bears full
financial responsibility by
law.
MANAGEMENT
Mr. Sunan Wattanasuk is
the Managing Partner.
He is Thai
nationality with the
age of 50
years old.
The subject is
a shipping agency,
providing customs clearance
of inbound/outbound cargo
from port, as
well as transportation services.
Most
of the services
are for importers
and exporters.
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
Services are by
cash or on
the credits term
of 15-30 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
BANKING
The
banker’s name was
not disclosed.
EMPLOYMENT
The
subject employs 2
staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is located
in provincial, in
the Eastern region.
COMMENT
The
subject is considered
as a new
player in the market.
Since its establishment
in July 2012,
it has never
submitted the financial
statement to the
Commercial Registration Department.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,000,000 which was carried by 2 persons as
followed:
Name Age Amount
Mr. Sunan Wattanasuk 50 Bht.
500,000 [Unlimited Partner]
Mr. Kitti Sirimongkol 47 Bht. 500,000
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
None
Note:
The 2012-2013 financial
statements were not
submitted to the
Commercial Registration Department
during investigation.
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
: |
SUM |
|
|
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|
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 |
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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 |
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|
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 |
-- |
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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.