MIRA
INFORM REPORT
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Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
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Name : |
NTPS CO., LTD. |
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Registered Office : |
56/38 MOO 4, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.06.2013 |
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Com. Reg. No.: |
0115556012503 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged
in provide repairing,
checking and maintenance
servicing of forklifts, as
well as distributing of
electric forklifts, diesel
forklifts, related equipments
and spare parts. |
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No of Employees : |
8 |
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 : |
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 01, 2014
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
With a well-developed
infrastructure, a free-enterprise economy, generally pro-investment policies, and
strong export industries,
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Source
: CIA |
COMPANY NAME
NTPS
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 56/38
MOO 4,
A.
BANGPLEE,
TELEPHONE : [66] 2138-1026-7,
081 257-7244
FAX :
[66] 2138-1027
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2013
REGISTRATION
NO. : 0115556012503
TAX
ID NO. : 3035901663
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PORNCHAI SRINARONG,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 8
LINES
OF BUSINESS : FORKLIFTS, EQUIPMENT
AND SPARE PARTS
SERVICE PROVIDER
AND DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on June 19, 2013
as a private
limited company under
the registered name NTPS CO., LTD., by
Thai group, with the business
objective to supply
product and service
for forklifts. It
currently employs 8
staff.
The
subject’s registered address
is 56/38 Moo
4, Theparak Road,
T. Bangpleeyai, A. Bangplee, Samutprakarn 10540,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
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Name |
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Nationality |
Age |
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Mrs. Wanna
Sae-Zim |
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Thai |
72 |
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Mr. Pornchai
Srinarong |
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Thai |
37 |
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Ms. Pranee
Srinarong |
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Thai |
43 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pornchai
Srinarong
is the Managing
Director.
He is Thai
nationality with the
age of 37 years
old.
BUSINESS OPERATIONS
The subject
is engaged in
provide repairing, checking
and maintenance servicing
of forklifts, as well
as distributing of
electric forklifts, diesel
forklifts, related equipments
and spare parts.
PURCHASE
100%
of the products
is purchased from
local suppliers.
SALES
100% of the
products is sold
locally to retailers
and end-users.
RELATED AND AFFILIATED
COMPANY
T.S. Commercial Trade
Co., Ltd.
Business Type :
Importer and distributor
of forklifts
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.
BANKING
The
banker’s name was
not disclosed.
EMPLOYMENT
The subject
currently employs 8 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in provincial,
on the outskirts of
COMMENT
Subject was
established in June 2013.
It reported first
year sales at
slow level.
However,
subject is still
in early stage of
operation, it is estimated
that an improvement would
see at the
end of this year.
FINANCIAL INFORMATION
The
capital was registered
at Bht.
1,000,000 divided into 100,000
shares of Bht. 10 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE
[as
at April 30,
2014]
|
NAME |
HOLDING |
% |
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Mr. Thongsang Srinarong Nationality: Thai Address : 89/446
Moo 5, Lamlukka, Pathumthani |
99,997 |
100.00 |
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Mr. Pornchai
Srinarong Nationality: Thai Address : 89/446
Moo 5, Lamlukka, Pathumthani |
1 |
- |
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Mrs. Wanna
Sae-Zim Nationality: Thai Address : 89/446
Moo 5, Lamlukka, Pathumthani |
1 |
- |
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Ms. Pranee Srinarong Nationality: Thai Address : 89/446
Moo 5, Lamlukka, Pathumthani |
1 |
- |
Total Shareholders : 4
Share Structure
[as at April
30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
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Thai |
4 |
100,000 |
100.00 |
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Foreign |
- |
- |
- |
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Total |
4 |
100,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO
Mr. Sinthorn
Lakvidhaya
No. 9664
BALANCE SHEET [BAHT]
The
latest financial figures
published for December 31,
2013 was:
ASSETS
|
Current Assets |
2013 |
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Cash in Hand &
at Bank |
1,486,328.82 |
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Trade Accounts Receivable |
1,003,095.38 |
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Inventories |
49,388.88 |
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Total Current Assets
|
2,538,813.08 |
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Equipment |
504,394.54 |
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Guarantee |
1,682.24 |
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Total Assets |
3,044,889.86 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
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Trade Accounts &
Notes Payable |
816,406.07 |
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Accrued Income Tax |
13,368.39 |
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Accrued Expenses |
846,000.00 |
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Other Current Liabilities |
21,173.78 |
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Total Current Liabilities |
1,696,948.24 |
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Total Liabilities |
1,696,948.24 |
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Shareholders' Equity |
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Share capital : Baht 10
par value Authorized &
issued share capital
100,000 shares |
1,000,000.00 |
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Capital Paid |
1,000,000.00 |
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Retained Earning - Unappropriated |
347,941.62 |
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Total Shareholders' Equity |
1,347,941.62 |
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Total Liabilities & Shareholders' Equity |
3,044,889.86 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
June 19,
2013 - Dec.
31, 2013 |
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Service Income |
7,230,062.81 |
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Other Income |
9,844.59 |
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Total Revenues |
7,239,907.40 |
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Expenses |
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Cost of Service |
4,803,034.42 |
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Selling Expenses |
103,241.51 |
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Administrative Expenses |
1,972,321.46 |
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Total Expenses |
6,878,597.39 |
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Profit / [Loss] before Income Tax
|
361,310.01 |
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Income Tax |
[13,368.39] |
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Net Profit / [Loss] |
347,941.62 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
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LIQUIDITY RATIO |
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CURRENT RATIO |
TIMES |
1.50 |
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QUICK RATIO |
TIMES |
1.47 |
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ACTIVITY RATIO |
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FIXED ASSETS TURNOVER |
TIMES |
14.33 |
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TOTAL ASSETS TURNOVER |
TIMES |
2.37 |
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INVENTORY CONVERSION PERIOD |
DAYS |
3.75 |
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INVENTORY TURNOVER |
TIMES |
97.25 |
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RECEIVABLES CONVERSION PERIOD |
DAYS |
50.64 |
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RECEIVABLES TURNOVER |
TIMES |
7.21 |
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PAYABLES CONVERSION PERIOD |
DAYS |
62.04 |
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CASH CONVERSION CYCLE |
DAYS |
(7.65) |
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PROFITABILITY
RATIO |
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COST OF GOODS SOLD |
% |
66.43 |
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SELLING & ADMINISTRATION |
% |
28.71 |
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INTEREST |
% |
- |
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GROSS PROFIT MARGIN |
% |
33.70 |
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NET PROFIT MARGIN BEFORE EX. ITEM |
% |
5.00 |
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NET PROFIT MARGIN |
% |
4.81 |
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RETURN ON EQUITY |
% |
25.81 |
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RETURN ON ASSET |
% |
11.43 |
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EARNING PER SHARE |
BAHT |
34.79 |
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LEVERAGE RATIO |
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DEBT RATIO |
TIMES |
0.56 |
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DEBT TO EQUITY RATIO |
TIMES |
1.26 |
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TIME INTEREST EARNED |
TIMES |
- |
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
33.70 |
Impressive |
Industrial
Average |
0.11 |
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Net Profit Margin |
4.81 |
Impressive |
Industrial
Average |
0.72 |
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Return on Assets |
11.43 |
Impressive |
Industrial
Average |
10.09 |
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Return on Equity |
25.81 |
Deteriorated |
Industrial
Average |
55.13 |
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 33.7%. 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 4.81%,
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. Return on Assets ratio is
11.43%, 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.
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 25.81%.
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 |
1.50 |
Impressive |
Industrial
Average |
1.04 |
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Quick Ratio |
1.47 |
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Cash Conversion Cycle |
(7.65) |
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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 1.5 times in 2013, then it is
generally considered to have good short-term financial strength. When compared
with the industry average, the ratio of the company was higher, indicated that
company was an efficient operator in a dominant position within its industry.
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 1.47 times in 2013,
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 -8 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.56 |
Impressive |
Industrial
Average |
0.82 |
|
Debt to Equity Ratio |
1.26 |
Impressive |
Industrial
Average |
4.68 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.56 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
14.33 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
2.37 |
Deteriorated |
Industrial
Average |
13.96 |
|
Inventory Conversion Period |
3.75 |
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Inventory Turnover |
97.25 |
Acceptable |
Industrial Average |
165.02 |
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Receivables Conversion Period |
50.64 |
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Receivables Turnover |
7.21 |
Acceptable |
Industrial
Average |
9.90 |
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Payables Conversion Period |
62.04 |
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The company's Account Receivable Ratio is calculated as 7.21 in 2013. 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 2013 is 7.21. 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 is
at 4 days at the end of 2013. And
Inventory turnover is 97.25 times in
year 2013.
The company's Total Asset Turnover is calculated as 2.37 times in 2013.
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.101.48 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
SMN |
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 |
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-- |
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.