MIRA
INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
B.T. CONTROLS CO., LTD. |
|
|
|
|
Registered Office : |
483 Soi Ladprao
48 [Pibul-Upatham], |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
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Date of Incorporation : |
31.01.1990 |
|
|
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Com. Reg. No.: |
0105533012124 |
|
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Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
Subject is engaged in importing,
distributing and re-exporting wide
range of industrial valves
and accessories, as
well as exporting
of the local
products. |
|
|
|
|
No of Employees : |
16 |
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 |
|
Payment Behaviour : |
No Complaints |
|
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
B.T. CONTROLS CO., LTD.
SUMMARY
BUSINESS ADDRESS : 483 SOI LADPRAO
48 [PIBUL-UPATHAM],
LADPRAO ROAD, SAMSENNOK,
HUAYKWANG, BANGKOK
10320, THAILAND
TELEPHONE : [66] 2939-8743-6
FAX : [66] 2939-8747
E-MAIL ADDRESS : btcont@truemail.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1990
REGISTRATION NO. : 0105533012124
TAX ID NO. : 3101801958
CAPITAL REGISTERED : BHT.
3,000,000
CAPITAL PAID-UP : BHT.
3,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
FOREIGN :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
DAVID PETER BOND, BRITISH
MANAGING DIRECTOR
NO. OF STAFF : 16
LINES OF BUSINESS : INDUSTRIAL VALVES
AND ACCESSORIES
IMPORTER, DISTRIBUTOR
AND EXPORTER
|
CORPORATE PROFILE |
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject was
established on January 31,
1990 as a
private limited company under
the registered name
B.T. CONTROLS CO.,
LTD. by Thai and
foreign groups, with the
business objective to
import, distribute and
export wide range
of industrial valves
and accessories. It
currently employs 16
staff.
The subject’s registered
address is at 483
Soi Ladprao 48 [Pibul-upatham], Ladprao Road, Samsennok, Huaykwang,
Bangkok 10320, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somchai Kasemtanachot |
|
Thai |
54 |
|
Mr. David Peter Bond |
|
British |
59 |
|
Ms. Yaowaluk Ampornsittikul |
|
Thai |
53 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. David Peter Bond
is the Managing
Director.
He is British
nationality with the
age of 59
years old.
Mr. Somchai Kasemtanachot is the
Marketing Manager.
He is Thai
nationality with the
age of 54
years old.
Ms. Yaowaluk Ampornsittikul is the
Adminitsration and Accounting
Manager.
She is Thai
nationality with the
age of 53
years old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing and re-exporting
wide range of industrial
valves and accessories,
as well as
exporting of the
local products.
MAJOR BRANDS
“XOMOX”, “I.M.I.”, “BRAY”,
“HART”, “NITTO”, “FLOWTECH”,
“KVM”, “ZETKAMA”, “JSC”, “DIXON”,
“GRAINGER”, “SUNFLEX”, “KITZ”
and etc.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas in U.K., France, U.S.A.,
Singapore, Germany and
Spain.
SALES
95% of the
products is sold
locally by wholesale
to traders, manufacturers
and end-users.
EXPORT
5% of the
products is exported
and re-exported to
Malaysia, Indonesia, Hong
Kong and Vietnam.
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 to 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
T/T.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd.
TMB Bank Public
Co., Ltd.
EMPLOYMENT
The subject currently
employs 16 staff.
LOCATION DETAILS
The premise is
owned for operating
administrative office in a 3
storey building of 1
row shophouse at
the heading address.
Premise is located
in commercial/residential area.
Showroom is located
at 489 Soi Ladprao
48, Ladprao Road,
Samsennok, Huaykwang, Bangkok
10320.
COMMENT
The subject was
formed in 1990
as an importer
and distributor of
industrial valves and accessories.
Its products have
been used in
various industries. Subject’s performance was
related with the
condition of local
consumption, which is
likely to expand
slowly from the
previous year.
However, subject is
able to maintain
moderate business.
FINANCIAL INFORMATION
The capital was
registered at Bht.
3,000,000 divided into 120,000
shares of Bht. 25 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE :
[as at April
28, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. David Peter Bond Nationality: British Address : 485
Soi Ladprao 48,
Ladprao Road,
Samsennok, Huaykwang, Bangkok
|
57,600 |
48.00 |
|
Mr. Somchai Kasemtanachot Nationality: Thai Address : 609
Soi Ladprao 96,
Wangthonglang,
Bangkok |
23,800 |
19.83 |
|
Mrs. Yaowaluk Ampornsittikul Nationality: Thai Address : 485
Soi Ladprao 48,
Ladprao Road,
Samsennok, Huaykwang, Bangkok
|
13,000 |
10.83 |
|
Ms. Amporn Ampornsittikul Nationality: Thai Address : 72/348
Moo 8, T. Bangkrasor, A. Muang,
Nonthaburi |
6,600 |
5.50 |
|
Mrs. Maneerat Srirasan Nationality: Thai Address : 1/356
Soi Ramkhamhaeng 190/2,
Minburi,
Bangkok |
6,500 |
5.42 |
|
Mrs. Siripan Kamsanit Nationality: Thai Address : 121
Moo 4, T. Klangweang, A. Wiangsa, Nan |
6,500 |
5.42 |
|
Ms. Kannika Kaisoongnoen Nationality: Thai Address : 2030/36
Prachasongkroh Road, Dindaeng,
Bangkok |
2,400 |
2.00 |
|
Ms. Orawan Kluaythong Nationality: Thai Address : 6
Moo 1, T. Arpone,
A. Buachet, Surin |
2,400 |
2.00 |
|
Mrs. Zuk Chan
Bond Nationality: Hong Kong Address : 485
Soi Ladprao 48,
Ladprao Road,
Samsennok, Huaykwang, Bangkok
|
1,200 |
1.00 |
Total Shareholders : 9
Share Structure
[as at April
28, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
61,200 |
51.00 |
|
Foreign |
2 |
58,800 |
49.00 |
|
Total |
9 |
120,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Ms. Nuanchan Sinsuksathaporn No.
4359
B.T. CONTROLS
CO., LTD.
BALANCE SHEET
[BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
18,081,580.74 |
11,505,978.16 |
16,448,135.07 |
|
Short-term Investment |
100,000.00 |
1,000,000.00 |
- |
|
Trade Accounts &
Other Receivable |
8,661,611.30 |
4,401,935.43 |
6,053,853.28 |
|
Inventories |
10,385,282.98 |
8,296,815.69 |
10,552,017.02 |
|
Other Current Assets
|
39,522.59 |
8,181.52 |
16,442.01 |
|
|
|
|
|
|
Total Current Assets
|
37,267,997.61 |
25,212,910.80 |
33,070,447.38 |
|
Fixed Assets |
13,594,857.58 |
14,109,462.65 |
14,544,211.70 |
|
Long-term Investment
|
1,000,000.00 |
- |
- |
|
Other Non - current Assets |
48,215.02 |
19,641.76 |
16,292.26 |
|
Total Assets |
51,911,070.21 |
39,342,015.21 |
47,630,951.34 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft |
- |
- |
174,645.21 |
|
Trade Accounts & Other
Payable |
16,249,826.86 |
8,791,148.75 |
18,113,765.14 |
|
Current Portion of
Lease Contract Liabilities |
298,491.71 |
280,429.43 |
263,460.61 |
|
Accrued Income Tax |
685,469.74 |
168,100.71 |
121,348.91 |
|
|
|
|
|
|
Total Current Liabilities |
17,233,788.31 |
9,239,678.89 |
18,673,219.87 |
|
|
|
|
|
|
Lease Contract Liabilities, Net |
- |
298,491.70 |
578,921.12 |
|
Total Liabilities |
17,233,788.31 |
9,538,170.59 |
19,252,140.99 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 25
par value authorized, issued
and fully paid share
capital 120,000 shares |
3,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
|
|
|
|
|
Capital Paid |
3,000,000.00 |
3,000,000.00 |
3,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
300,000.00 |
300,000.00 |
300,000.00 |
|
Unappropriated |
31,377,281.90 |
26,503,844.62 |
25,078,810.35 |
|
Total Shareholders' Equity |
34,677,281.90 |
29,803,844.62 |
28,378,810.35 |
|
Total Liabilities & Shareholders' Equity |
51,911,070.21 |
39,342,015.21 |
47,630,951.34 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
57,440,506.70 |
35,077,781.20 |
38,852,126.86 |
|
Other Income |
128,657.23 |
316,638.57 |
273,365.77 |
|
Total Revenues |
57,569,163.93 |
35,394,419.77 |
39,125,492.63 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
35,755,237.81 |
22,264,378.40 |
25,887,153.22 |
|
Selling Expenses |
4,313,218.68 |
1,831,155.20 |
2,659,086.32 |
|
Administrative Expenses |
10,757,022.36 |
9,399,727.11 |
8,824,421.04 |
|
Other Expenses |
615,145.91 |
- |
198,682.18 |
|
Total Expenses |
51,440,624.76 |
33,495,260.71 |
37,569,342.76 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
6,128,539.17 |
1,899,159.06 |
1,556,149.87 |
|
Financial Costs |
[29,147.78] |
[45,306.64] |
[61,402.15] |
|
Profit / [Loss] before Income
Tax |
6,099,391.39 |
1,853,852.42 |
1,494,747.72 |
|
Income Tax |
[1,225,954.11] |
[428,818.15] |
[255,555.37] |
|
|
|
|
|
|
Net Profit / [Loss] |
4,873,437.28 |
1,425,034.27 |
1,239,192.35 |
B.T. CONTROLS
CO., LTD.
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.16 |
2.73 |
1.77 |
|
QUICK RATIO |
TIMES |
1.56 |
1.83 |
1.21 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.23 |
2.49 |
2.67 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.11 |
0.89 |
0.82 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
106.02 |
136.02 |
148.78 |
|
INVENTORY TURNOVER |
TIMES |
3.44 |
2.68 |
2.45 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
55.04 |
45.80 |
56.87 |
|
RECEIVABLES TURNOVER |
TIMES |
6.63 |
7.97 |
6.42 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
165.88 |
144.12 |
255.40 |
|
CASH CONVERSION CYCLE |
DAYS |
(4.83) |
37.70 |
(49.74) |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
62.25 |
63.47 |
66.63 |
|
SELLING & ADMINISTRATION |
% |
26.24 |
32.02 |
29.56 |
|
INTEREST |
% |
0.05 |
0.13 |
0.16 |
|
GROSS PROFIT MARGIN |
% |
37.98 |
37.43 |
34.07 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
10.67 |
5.41 |
4.01 |
|
NET PROFIT MARGIN |
% |
8.48 |
4.06 |
3.19 |
|
RETURN ON EQUITY |
% |
14.05 |
4.78 |
4.37 |
|
RETURN ON ASSET |
% |
9.39 |
3.62 |
2.60 |
|
EARNING PER SHARE |
BAHT |
40.61 |
11.88 |
10.33 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.33 |
0.24 |
0.40 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.50 |
0.32 |
0.68 |
|
TIME INTEREST EARNED |
TIMES |
210.26 |
41.92 |
25.34 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
63.75 |
(9.71) |
|
|
OPERATING PROFIT |
% |
222.70 |
22.04 |
|
|
NET PROFIT |
% |
241.99 |
15.00 |
|
|
FIXED ASSETS |
% |
(3.65) |
(2.99) |
|
|
TOTAL ASSETS |
% |
31.95 |
(17.40) |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 63.75%. Turnover has increased from THB
PROFITABILITY : SATISFACTORY
PROFITABILITY RATIO
|
Gross Profit Margin |
37.98 |
Acceptable |
Industrial Average |
59.67 |
|
Net Profit Margin |
8.48 |
Impressive |
Industrial Average |
5.44 |
|
Return on Assets |
9.39 |
Satisfactory |
Industrial Average |
9.76 |
|
Return on Equity |
14.05 |
Acceptable |
Industrial Average |
20.27 |
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 37.98%. 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 8.48%, higher figure when compared with those
of its average competitors in the same industry, indicated that business was an
efficient operator in a dominant
position within its industry.
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 9.39%.
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 14.05%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
2.16 |
Satisfactory |
Industrial Average |
2.17 |
|
Quick Ratio |
1.56 |
|
|
|
|
Cash Conversion Cycle |
(4.83) |
|
|
|
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 2.16 times in 2013, decreased from 2.73 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 1.56 times in 2013,
decreased from 1.83 times, although excluding inventory so the company still have
good short-term financial strength.
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 -5 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.33 |
Impressive |
Industrial Average |
0.47 |
|
Debt to Equity Ratio |
0.50 |
Impressive |
Industrial Average |
0.88 |
|
Times Interest Earned |
210.26 |
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 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 210.26 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 0.33 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 |
4.23 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.11 |
Acceptable |
Industrial Average |
1.79 |
|
Inventory Conversion Period |
106.02 |
|
|
|
|
Inventory Turnover |
3.44 |
Satisfactory |
Industrial Average |
4.10 |
|
Receivables Conversion Period |
55.04 |
|
|
|
|
Receivables Turnover |
6.63 |
Impressive |
Industrial Average |
4.54 |
|
Payables Conversion Period |
165.88 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.63 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 decreased from 136 days at the
end of 2012 to 106 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 2.68 times in year 2012 to 3.44 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.11 times and 0.89
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.60.73 |
|
|
1 |
Rs.101.47 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.