MIRA
INFORM REPORT
|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Correct Name : |
TEL-DAN LIMITED |
|
|
|
|
Registered Office : |
256/4-5 Moo
1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
04.06.1985 |
|
|
|
|
Com. Reg. No.: |
0105528019281 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturing,
distributing and exporting
various kinds of textile
for home furnishing products,
such as indoor
and outdoor decorative
cushions, bedding, bedcover
and throws, ready
made curtains, table
top and runners,
kitchen accessories, textile
based outdoor living
accessories, gift items,
ethenic textile collections, kids
bedding, storage solutions
and novelty cushions |
|
|
|
|
No. of Employees : |
200 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 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 |
Company name
TEL-DAN
LIMITED
SUMMARY
BUSINESS
ADDRESS : 256/4-5 MOO
1, TEPHARAK ROAD,
T.
BANGSAOTHONG, A. BANGSAOTHONG,
SAMUTPRAKARN 10540,
THAILAND
TELEPHONE : [66] 2313-1444,
083 781-5424
FAX :
[66] 2313-1988
E-MAIL
ADDRESS : marketing@tel-dan.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1985
REGISTRATION
NO. : 0105528019281
TAX
ID NO. : 3101354782
CAPITAL REGISTERED : BHT. 36,000,000
CAPITAL PAID-UP : BHT.
36,000,000
SHAREHOLDER’S PROPORTION : THAI :
5.00%
FOREIGN :
95.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. MOSHE AMI
ZARCHI, ISRAELI
MANAGING DIRECTOR
NO.
OF STAFF : 200
LINES
OF BUSINESS : TEXTILE HOME
FURNISHING PRODUCTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on June 4,
1985 as a
private limited company
under the registered
name TEL-DAN LIMITED,
by Thai and
Foreign groups, with
the business objective
to manufacture and
distribute various kinds
of textile for home
furnishing products to
both domestic and
international markets. It
currently employs approximately 200
staff.
The
subject’s registered address
is 256/405 Moo
1, Tepharak Road,
T. Bangsaothong, A. Bangsaothong,
Samutprakarn10540, and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Moshe Ami Zarchi |
|
Israeli |
53 |
|
Ms. Kwanta Ketkrathuk |
|
Thai |
51 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Moshe Ami Zarchi
is the Managing
Director.
He is Israeli
nationality with the
age of 53 years
old.
Ms. Kwanta Ketkrathuk is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 51
years old.
Ms. Kochjutha Chokechaisuwan is
the Export Marketing
Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of textile for home furnishing
products, such as
indoor and outdoor
decorative cushions, bedding,
bedcover and throws,
ready made curtains,
table top and
runners, kitchen accessories,
textile based outdoor
living accessories, gift
items, ethenic textile
collections, kids bedding,
storage solutions and
novelty cushions.
BRAND NAMES
“TEL-DAN” and
“ABESSINIA”
PURCHASE
Raw
materials are purchased
from suppliers both
domestic and overseas,
mainly in Republic
of China and
Israel.
SALES
60% of the
products is exported
to U.S.A., Japan,
Hong Kong, Singapore, India,
Republic of China,
Vietnam, and the
countries in Europe
and Middle East,
the
remaining 40% is
sold locally.
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 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
Kasikornbank
Public Co., Ltd.
[Samutprakarn
Branch : 41 Moo
2, Sai-Luad Road,
Paknam, Muang, Samutprakarn]
EMPLOYMENT
The
subject employs approximately 200
staff.
LOCATION
DETAILS
The
premise is owned for
administrative office, factory
and warehouse on
8,000 square meters
of area at
the heading address.
Premise is located
in provincial.
COMMENT
Subject
had good business
performance in the
past several years.
However, consumption slowdown
and strong competitive
market had decreased
demand of such
products.
Economy
slowdown in accordance with slow
domestic consumption has
considerably affected its sales.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht.
100
each
with fully paid.
The
capital was increased
later as follows:
Bht. 2,000,000
on August 30,
1987
Bht. 25,000,000
on September 17,
2004
Bht. 30,000,000
on November 5,
2004
Bht. 40,000,000
on November 29,
2007
Bht. 50,000,000
on December 28,
2007
Bht. 60,000,000
on December 25,
2008
On
April 26, 2013,
the capital was
decreased to Bht.
36,000,000 divided into
360,000 shares of
Bht. 100 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[as at
March 20, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Norbert Arcadis Nationality: American Address : New
York, U.S.A. |
198,000 |
55.00 |
|
Mr. Moshe Ami
Zarchi Nationality: Israeli Address : 131/108
Charansanitwong Road, Bangor,
Bangkoknoi, Bangkok |
143,996 |
40.00 |
|
Ms. Kwanta Ketkrathuk Nationality: Thai Address : 131/108
Charansanitwong Road, Bangor,
Bangkoknoi, Bangkok |
18,000 |
5.00 |
|
Mr. Somkid Wangcherdchoowong Nationality: Thai Address : 1/38
Yenakart Road, Chongnonsi,
Yannawa, Bangkok |
1 |
- |
|
Mr. Pramual Thongphoo Nationality: Thai Address : 1/99
Trok Sukjai, Suanluang,
Prakanong,
Bangkok |
1 |
- |
|
Mrs. Amara Thongphoo Nationality: Thai Address : 60
Moo 7, T. Seesakrabue, A. Ongkarak, Nakornnayok
|
1 |
- |
|
Mr. Kidkom Phumirak Nationality: Thai Address : 8/32
Pradipat Road, Samsennai,
Phayathai, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at March 20,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
18,004 |
5.00 |
|
Foreign |
2 |
341,996 |
95.00 |
|
Total |
7 |
360,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO
Mr. Sukij Aranyakasemsuk No. 2364
BALANCE SHEET [BAHT]
There were no
2012-2013 financial
statements available during
an investigation.
The
latest financial figures
published for December
31, 2011, 2010
& 2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalents |
632,679.34 |
518,345.09 |
693,558.36 |
|
Trade Accounts & Other Receivable |
43,002,721.95 |
65,321,000.10 |
49,100,183.63 |
|
Trade Accounts Receivable - Related company |
- |
- |
20,874,065.93 |
|
Inventories |
43,538,742.78 |
49,628,901.77 |
65,697,901.77 |
|
Revenue Department Receivable |
- |
108,166.60 |
246,302.88 |
|
Other Current Assets
|
|
|
|
|
Deferred Income |
10,513,499.55 |
15,746,456.07 |
7,331,405.15 |
|
Prepaid Expenses |
3,726,925.91 |
3,576,736.30 |
298,184.85 |
|
Loans for
Employees |
3,980,394.23 |
4,084,714.57 |
1,911,293.47 |
|
Advance |
11,037,491.22 |
12,017,491.22 |
13,857,586.54 |
|
Others |
8,041,335.05 |
8,304,121.78 |
8,505,443.23 |
|
|
|
|
|
|
Total Current Assets
|
124,473,790.03 |
159,305,933.50 |
168,515,925.81 |
|
Other Long-term Investment |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Cash at Bank pledged as a Collateral |
302,414.43 |
2,534,468.27 |
2,484,812.64 |
|
Fixed Assets |
3,702,222.32 |
40,521,569.19 |
43,567,382.50 |
|
Other Non-current Assets |
3,541,229.00 |
2,533,229.00 |
2,533,229.00 |
|
Total Assets |
134,019,655.78 |
206,895,199.96 |
219,101,349.95 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
38,936,341.59 |
101,576,335.46 |
105,224,245.44 |
|
Trade Accounts & Other Payable |
15,183,774.07 |
20,344,893.04 |
28,394,015.75 |
|
Current Portion of Long-term Loans |
1,188,372.97 |
1,800,000.00 |
1,800,000.00 |
|
Current Portion of Hire-purchase Payable |
- |
25,754.14 |
94,668.00 |
|
Short-term Loan |
8,704,500.28 |
- |
845,744.10 |
|
Revenue Department Payable |
145,294.31 |
- |
- |
|
Accrued Expenses |
- |
- |
23,733,368.15 |
|
Accrued Income Tax |
31,373,167.42 |
28,724,855.13 |
50,091.99 |
|
Other Current Liabilities |
60,429.16 |
42,865.54 |
3,133,801.64 |
|
|
|
|
|
|
Total Current Liabilities |
95,591,879.80 |
152,514,703.31 |
163,275,935.07 |
|
|
|
|
|
|
Loan from Financial
Institutions |
- |
881,247.32 |
2,296,367.13 |
|
Obligation for Employee
Benefits |
35,000.00 |
- |
99,475.14 |
|
Total Liabilities |
95,626,879.80 |
153,395,950.63 |
165,671,777.34 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 600,000 shares |
60,000,000.00 |
60,000,000.00 |
60,000,000.00 |
|
|
|
|
|
|
Capital Paid |
60,000,000.00 |
60,000,000.00 |
60,000,000.00 |
|
Surplus on Revaluation of Assets |
- |
15,570,475.82 |
15,570,475.82 |
|
Retained Earning -
Unappropriated |
[21,607,224.02] |
[22,071,226.49] |
[22,140,903.21] |
|
Total Shareholders' Equity |
38,392,775.98 |
53,499,249.33 |
53,429,572.61 |
|
Total Liabilities &
Shareholders' Equity |
134,019,655.78 |
206,895,199.96 |
219,101,349.95 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
128,339,275.47 |
148,129,358.96 |
213,995,028.43 |
|
Other Income |
|
|
|
|
Interest Income |
1,243.97 |
2,610,533.19 |
231,539.43 |
|
Gain on Exchange Rate |
305,763.18 |
- |
- |
|
Others |
- |
33,058,143.30 |
1,985,685.09 |
|
Total Revenues |
128,646,282.62 |
183,798,035.45 |
216,212,252.95 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
94,678,763.00 |
145,069,966.52 |
171,689,534.94 |
|
Selling Expenses |
11,096,951.15 |
12,851,119.52 |
15,615,305.34 |
|
Administrative Expenses |
14,381,767.74 |
18,339,010.05 |
18,885,872.68 |
|
Loss on Exchange Rate |
- |
620,680.31 |
964,494.53 |
|
Loss on Disposal
of Assets |
577,373.99 |
- |
- |
|
Total Expenses |
120,734,855.88 |
176,880,776.40 |
207,155,207.49 |
|
Profit before Financial Cost & Income Tax |
7,911,426.74 |
6,917,259.05 |
9,057,045.46 |
|
Financial Cost |
[7,206,995.11] |
[6,788,216.79] |
[8,869,085.93] |
|
Income Tax |
[240,429.16] |
[59,365.54] |
[80,091.99] |
|
Net Profit / [Loss] |
464,002.47 |
69,676.72 |
107,867.54 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.30 |
1.04 |
1.03 |
|
QUICK RATIO |
TIMES |
0.46 |
0.43 |
0.43 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
34.67 |
3.66 |
4.91 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.96 |
0.72 |
0.98 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
167.85 |
124.87 |
139.67 |
|
INVENTORY TURNOVER |
TIMES |
2.17 |
2.92 |
2.61 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
122.30 |
160.96 |
83.75 |
|
RECEIVABLES TURNOVER |
TIMES |
2.98 |
2.27 |
4.36 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
58.54 |
51.19 |
60.36 |
|
CASH CONVERSION CYCLE |
DAYS |
231.61 |
234.63 |
163.05 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
73.77 |
97.93 |
80.23 |
|
SELLING & ADMINISTRATION |
% |
19.85 |
21.06 |
16.12 |
|
INTEREST |
% |
5.62 |
4.58 |
4.14 |
|
GROSS PROFIT MARGIN |
% |
26.47 |
26.14 |
20.81 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.16 |
4.67 |
4.23 |
|
NET PROFIT MARGIN |
% |
0.36 |
0.05 |
0.05 |
|
RETURN ON EQUITY |
% |
1.21 |
0.13 |
0.20 |
|
RETURN ON ASSET |
% |
0.35 |
0.03 |
0.05 |
|
EARNING PER SHARE |
BAHT |
0.77 |
0.12 |
0.18 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.71 |
0.74 |
0.76 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.49 |
2.87 |
3.10 |
|
TIME INTEREST EARNED |
TIMES |
1.10 |
1.02 |
1.02 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(13.36) |
(30.78) |
|
|
OPERATING PROFIT |
% |
14.37 |
(23.63) |
|
|
NET PROFIT |
% |
565.94 |
(35.41) |
|
|
FIXED ASSETS |
% |
(90.86) |
(6.99) |
|
|
TOTAL ASSETS |
% |
(35.22) |
(5.57) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -13.36%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
26.47 |
Deteriorated |
Industrial
Average |
125.75 |
|
Net Profit Margin |
0.36 |
Deteriorated |
Industrial
Average |
1.10 |
|
Return on Assets |
0.35 |
Deteriorated |
Industrial
Average |
1.08 |
|
Return on Equity |
1.21 |
Acceptable |
Industrial
Average |
2.14 |
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 26.47%. 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 0.36%.
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 0.35%.
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 1.21%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.30 |
Satisfactory |
Industrial
Average |
1.51 |
|
Quick Ratio |
0.46 |
|
|
|
|
Cash Conversion Cycle |
231.61 |
|
|
|
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 1.3 times in 2011, increased from 1.04 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 0.46 times in 2011,
increased from 0.43 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 232 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.71 |
Acceptable |
Industrial
Average |
0.51 |
|
Debt to Equity Ratio |
2.49 |
Risky |
Industrial
Average |
1.05 |
|
Times Interest Earned |
1.10 |
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 1.1 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 0.71 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
34.67 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.96 |
Satisfactory |
Industrial
Average |
0.99 |
|
Inventory Conversion Period |
167.85 |
|
|
|
|
Inventory Turnover |
2.17 |
Acceptable |
Industrial
Average |
3.23 |
|
Receivables Conversion Period |
122.30 |
|
|
|
|
Receivables Turnover |
2.98 |
Acceptable |
Industrial
Average |
4.02 |
|
Payables Conversion Period |
58.54 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.98 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 125 days at the
end of 2010 to 168 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 2.92 times in year 2010 to 2.17 times
in year 2011.
The company's Total Asset Turnover is calculated as 0.96 times and 0.72
times in 2011 and 2010 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
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.