MIRA
INFORM REPORT
|
Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
THAI TOKAI CARBON PRODUCT CO., LTD. |
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Registered Office : |
9th
Floor, |
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Country : |
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|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.10.1989 |
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Com. Reg. No.: |
0105532100151 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engaged in manufacturing and
distributing carbon black,
the reinforcing agent
in the production
of tyres, and
also used to
produce wiper ribbons, floor mats,
engine mounts and
hosed for all
types of vehicles,
as well as
being an essential
element in paint, printing
ink, plastic compound,
floor mats, electric conductors,
and a broad
range of rubber
products |
|
|
|
|
No. of Employees : |
280 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate / |
|
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) |
|
|
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 |
With a well-developed
infrastructure, a free-enterprise economy, generally pro-investment policies, and
strong export industries,
|
Source
: CIA |
Company name
THAI TOKAI CARBON PRODUCT CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 9th FLOOR,
HARINDHORN TOWER,
54
NORTH
SATHORN ROAD, SILOM,
BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 2266-3232
FAX :
[66] 2266-3230
E-MAIL
ADDRESS : kitti.t@tcp.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1989
REGISTRATION
NO. : 0105532100151
TAX
ID NO. : 3101762808
CAPITAL REGISTERED : BHT. 800,000,000
CAPITAL PAID-UP : BHT.
800,000,000
SHAREHOLDER’S PROPORTION : JAPANESE :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
HIROSHI TAKAHASHI, JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 280
LINES
OF BUSINESS : CARBON BLACK
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
LOW PERFORMANCE
HISTORY
The subject
was established on
October 19, 1989 as a
private limited company
under the originally
registered name “Thai
Carbon Product Co.,
Ltd.” by Japanese and Swiss
groups. On October
2, 2000, its name
was changed to THAI TOKAI
CARBON PRODUCT CO.,
LTD. Its business
objective is to
manufacture and distribute
carbon black for
tire industry of
both domestic and
international markets. It
currently employs approximately
280 staff.
The
subject’s registered address
is 9th Floor,
Harindhorn Tower, 54
North Sathorn Rd.,
Silom, Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somkiat Hatthakosol |
|
Thai |
64 |
|
Mr. Chalalak Boonnag |
|
Thai |
67 |
|
Mr. Hajime Nagasaka |
[x] |
Japanese |
64 |
|
Mr. Hiroshi Takahashi |
[x] |
Japanese |
51 |
|
Mr. Sinichi Zato |
|
Japanese |
59 |
|
Mr. Masafumi Tsuji |
[x] |
Japanese |
51 |
|
Mr. Toru Araki |
|
Japanese |
50 |
|
Mr. Yoshinari Kudo |
[x] |
Japanese |
66 |
AUTHORIZED PERSON
Any of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Hiroshi Takahashi is
the Managing Director.
He is Japanese
nationality with the
age of 51
years old.
Mr. Kitti Tankittibutr is
the Marketing Manager.
He is Thai
nationality.
Mr. Toru Araki is
the Factory Manager.
He is Japanese
nationality with the
age of 50
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
and distributing carbon
black, the reinforcing
agent in the
production of tyres,
and also used
to produce wiper
ribbons, floor mats, engine
mounts and hosed
for all types
of vehicles, as
well as being
an essential element
in paint, printing ink,
plastic compound, floor mats,
electric conductors, and a broad
range of rubber
products.
PRODUCTION CAPACITY
61,000 tons per
annum,
PURCHASE
70% of raw
material and machinery
are imported from
U.S.A., Japan and
Republic of China,
the remaining 30%
is purchased from
local suppliers.
MAJOR
SUPPLIERS
PTT
Public Company Limited : Thailand
Tokai
Carbon Co., Ltd. : Japan
Tokai
Carbon [Shanghai] Co.,
Ltd. : Republic
of China
SALES
60% of the
products is sold
locally by wholesale
to manufacturers and
end-users, the remaining
40% is exported
to Malaysia, Indonesia,
Vietnam, India, Korea,
Taiwan, Philippines, France,
Spain and Japan.
MAJOR CUSTOMERS
Michelin Siam Co.,
Ltd. : Thailand
Siam Tyre Public
Company Limited :
Thailand
Thai Bridgestone Co.,
Ltd. : Thailand
Micro Inks Ltd. : India
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 L/C
at sight or
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Bank of Tokyo-Mitsubishi UFJ
Ltd.
The Siam Commercial
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
280 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Factory
is located at
42/2 Moo 1,
Sukhumvit Rd., KM. 124.5,
Thungsukhla, Sriracha, Chonburi
20230. Tel : [66]
38 352-487 Fax
: [66] 38
352-246-7
COMMENT
The
subject produces carbon
black to feed
the demand of
the local automotive
industry. It can be used
for many different
applications. Since its
establishment, it has
continued to develop
its plant in Thailand,
as well as
provide the most
advanced training for
its engineers and technicians
in order to
meet demands and
requirement for carbon
black.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
The
capital was increased
later as following:
Bht. 200,000,000
on October 15,
1990
Bht. 300,000,000
on June 29,
1992
Bht. 600,000,000
on February 6,
1995
Bht. 800,000,000
on November 16,
1995
The
latest registered capital
was increased to Bht. 800 million, divided
into 8,000,000 shares
of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
June 24, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Tokai Carbon Co.,
Ltd. Nationality: Japanese Address : Aoyama
Building, 2-3 Kita- Aoyama 1-Chome,
Minato-ku, Tokyo, Japan |
6,614,815 |
82.69 |
|
Mitsubishi Corporation Nationality: Japanese Address : 3-1
Marunouchi 2-Chome, Chiyoda-ku, Tokyo, Japan |
985,185 |
12.31 |
|
Thai Bridgestone Co.,
Ltd. Nationality: Japanese Address : 990 Rama
4 Rd., Silom, Bangrak, Bangkok |
400,000 |
5.00 |
Total Shareholders : 3
Share Structure [as
at June 24,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Japanese |
3 |
8,000,000 |
100.00 |
|
Total |
3 |
8,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Bunyarit Thanomcharoen No. 7900
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 |
72,616,778 |
20,947,110 |
11,919,974 |
|
Trade Accounts Receivable
|
862,427,530 |
975,852,217 |
766,878,337 |
|
Inventories |
1,502,721,248 |
2,054,823,987 |
1,734,535,937 |
|
Refundable Value Added Tax |
203,519,417 |
216,510,144 |
183,191,110 |
|
Other Current Assets |
9,886,183 |
13,061,300 |
11,326,015 |
|
|
|
|
|
|
Total Current Assets
|
2,651,171,156 |
3,281,194,758 |
2,707,851,373 |
|
|
|
|
|
|
Fixed Assets |
2,312,083,345 |
2,772,457,563 |
2,752,004,301 |
|
Deferred Sub-lease Prepayments for Land |
18,261,666 |
20,360,972 |
22,466,031 |
|
Deposits |
8,721,907 |
8,787,690 |
8,553,332 |
|
Total Assets |
4,990,238,074 |
6,082,800,983 |
5,490,875,037 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
1,943,152,341 |
2,237,638,012 |
2,075,000,000 |
|
Trade Accounts Payable
|
261,248,319 |
521,802,306 |
132,525,152 |
|
Current Portion of
Long-term Loans |
- |
300,000,000 |
100,000,000 |
|
Accrued Income Tax |
- |
39,065,340 |
100,153,118 |
|
Other Current Liabilities |
32,234,358 |
36,880,681 |
124,858,051 |
|
|
|
|
|
|
Total Current Liabilities |
2,236,635,018 |
3,135,386,339 |
2,532,536,321 |
|
Long-term Loan from Financial Institutions |
- |
- |
300,000,000 |
|
Employee Benefits Obligation |
17,927,165 |
15,784,172 |
14,413,483 |
|
Total Liabilities |
2,254,562,183 |
3,151,170,511 |
2,846,949,804 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 8,000,000 shares |
800,000,000 |
800,000,000 |
800,000,000 |
|
|
|
|
|
|
Capital Paid |
800,000,000 |
800,000,000 |
800,000,000 |
|
Retained Earnings: Appropriated for Statutory
Reserve |
80,000,000 |
80,000,000 |
80,000,000 |
|
Unappropriated |
1,855,675,891 |
2,051,630,472 |
1,763,925,233 |
|
Total Shareholders' Equity |
2,735,675,891 |
2,931,630,472 |
2,643,925,233 |
|
Total Liabilities &
Shareholders' Equity |
4,990,238,074 |
6,082,800,983 |
5,490,875,037 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
4,601,410,164 |
5,064,188,230 |
5,133,519,289 |
|
Other Income |
1,232,886 |
6,194,898 |
10,218,622 |
|
Total Revenues |
4,602,643,050 |
5,070,383,128 |
5,143,737,911 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
4,210,227,185 |
4,392,055,810 |
4,290,808,692 |
|
Selling Expenses |
113,562,416 |
114,490,207 |
118,842,280 |
|
Administrative Expenses |
88,382,849 |
72,564,823 |
70,103,342 |
|
Depreciation from Non-operating Assets |
255,851,691 |
- |
- |
|
Total Expenses |
4,668,024,141 |
4,579,110,840 |
4,479,754,314 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
[65,381,091] |
491,272,288 |
663,983,597 |
|
Financial Costs |
[62,573,490] |
[52,814,594] |
[31,920,442] |
|
Profit / [Loss] before Income
Tax |
[127,954,581] |
438,457,694 |
632,063,155 |
|
Income Tax |
- |
[102,752,455] |
[194,536,568] |
|
|
|
|
|
|
Net Profit / [Loss] |
[127,954,581] |
335,705,239 |
437,526,587 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.19 |
1.05 |
1.07 |
|
QUICK RATIO |
TIMES |
0.42 |
0.32 |
0.31 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.99 |
1.83 |
1.87 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.92 |
0.83 |
0.93 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
130.28 |
170.77 |
147.55 |
|
INVENTORY TURNOVER |
TIMES |
2.80 |
2.14 |
2.47 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
68.41 |
70.33 |
54.53 |
|
RECEIVABLES TURNOVER |
TIMES |
5.34 |
5.19 |
6.69 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
22.65 |
43.36 |
11.27 |
|
CASH CONVERSION CYCLE |
DAYS |
176.04 |
197.74 |
190.80 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.50 |
86.73 |
83.58 |
|
SELLING & ADMINISTRATION |
% |
4.39 |
3.69 |
3.68 |
|
INTEREST |
% |
1.36 |
1.04 |
0.62 |
|
GROSS PROFIT MARGIN |
% |
8.53 |
13.39 |
16.61 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(1.42) |
9.70 |
12.93 |
|
NET PROFIT MARGIN |
% |
(2.78) |
6.63 |
8.52 |
|
RETURN ON EQUITY |
% |
(4.68) |
11.45 |
16.55 |
|
RETURN ON ASSET |
% |
(2.56) |
5.52 |
7.97 |
|
EARNING PER SHARE |
BAHT |
(15.99) |
41.96 |
54.69 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.45 |
0.52 |
0.52 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.82 |
1.07 |
1.08 |
|
TIME INTEREST EARNED |
TIMES |
(1.04) |
9.30 |
20.80 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(9.14) |
(1.35) |
|
|
OPERATING PROFIT |
% |
(113.31) |
(26.01) |
|
|
NET PROFIT |
% |
(138.12) |
(23.27) |
|
|
FIXED ASSETS |
% |
(16.61) |
0.74 |
|
|
TOTAL ASSETS |
% |
(17.96) |
10.78 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -9.14%. Turnover has decreased from THB
5,064,188,230.00 in 2012 to THB 4,601,410,164.00 in 2013. While net profit has
decreased from THB 335,705,239.00 in 2012 to THB -127,954,581.00 in 2013. And
total assets has decreased from THB 6,082,800,983.00 in 2012 to THB
4,990,238,074.00 in 2013.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.53 |
Deteriorated |
Industrial
Average |
21.58 |
|
Net Profit Margin |
(2.78) |
Deteriorated |
Industrial
Average |
1.65 |
|
Return on Assets |
(2.56) |
Deteriorated |
Industrial
Average |
2.85 |
|
Return on Equity |
(4.68) |
Deteriorated |
Industrial
Average |
5.43 |
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 8.53%. 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 -2.78%.
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 -2.56%.
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 -4.68%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.19 |
Satisfactory |
Industrial
Average |
1.34 |
|
Quick Ratio |
0.42 |
|
|
|
|
Cash Conversion Cycle |
176.04 |
|
|
|
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 1.19 times in 2013, increased from 1.05 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 0.42 times in 2013,
increased from 0.32 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 177 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.45 |
Impressive |
Industrial
Average |
0.48 |
|
Debt to Equity Ratio |
0.82 |
Impressive |
Industrial
Average |
0.94 |
|
Times Interest Earned |
(1.04) |
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 -1.05 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 0.45 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.99 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.92 |
Acceptable |
Industrial
Average |
1.73 |
|
Inventory Conversion Period |
130.28 |
|
|
|
|
Inventory Turnover |
2.80 |
Deteriorated |
Industrial
Average |
10.32 |
|
Receivables Conversion Period |
68.41 |
|
|
|
|
Receivables Turnover |
5.34 |
Acceptable |
Industrial
Average |
7.20 |
|
Payables Conversion Period |
22.65 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.34 and 5.19 in
2013 and 2012 respectively. 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
increased from 2012. 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 has decreased from 171 days at the
end of 2012 to 130 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 2.14 times in year 2012 to 2.8 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.92 times and 0.83 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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.49 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.