MIRA
INFORM REPORT
|
Report Date : |
29.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HUNTSMAN [ |
|
|
|
|
Registered Office : |
899 Moo 4,
Bangpoo Industrial Estate, Soi
6, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1999 |
|
|
|
|
Com. Reg. No.: |
0115542003825 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and
Exporter of Industrial
Chemicals |
|
|
|
|
No. of Employees : |
380 |
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 : |
Slow but correct |
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Company name
HUNTSMAN [THAILAND]
LIMITED
SUMMARY
BUSINESS ADDRESS : 899 MOO 4,
BANGPOO INDUSTRIAL ESTATE,
SOI 6,
SUKHUMVIT ROAD,
PRAEKSA, MUANG,
SAMUTPRAKARN 10260,
THAILAND
TELEPHONE : [66] 2709-4466
FAX : [66] 2709-4351,
2709-4360
E-MAIL ADDRESS : surapol_chatanantavej@huntsman.com
contact_th@huntsman.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1999
REGISTRATION NO. : 0115542003825 [Former: SOR
POR. 9031]
TAX ID NO. : 3271167984
CAPITAL REGISTERED : BHT.
6,000,000
CAPITAL PAID-UP : BHT.
6,000,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SURAPOL CHATANANTAVEJ, THAI
MANAGING DIRECTOR
NO. OF STAFF : 380
LINES OF BUSINESS : INDUSTRIAL CHEMICALS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on July
26, 1999 as
a private limited
company under the
originally registered name “Huntsman
ICI
[Thailand] Limited”, by
foreign groups. On
November 3, 2000, the subject’s name was changed to HUNTSMAN
[THAILAND] LIMITED. It
currently employs approximately 380 staff.
Its business objective
is to manufacture
wide range of industrial
chemicals for domestic
and international markets.
In the beginning
of 2006, the
subject took over
textile chemical division
and all facilities from
Ciba Specialty Chemical
[Thailand] Ltd.
The subject’s registered
address is 899
Moo 4, Bangpoo
Industrial Estate, Soi 6,
Sukhumvit Rd., Praeksa,
Muang, Samutprakarn 10260,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Peter Riley Huntsman |
[x] [+] |
American |
51 |
|
Mr. Surapol Chatanantavej |
[x] [-] |
Thai |
51 |
|
Mr. Santachai Rattanyupong |
[x] [-] |
Thai |
60 |
|
Ms. Pang Ai Chee |
[+] |
Singaporean |
59 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
One of the
mentioned directors [-]
can jointly sign
with anyone of
the mentioned directors
[+] on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Surapol Chatanantavej is
the Managing Director.
He is Thai
nationality with the
age of 51 years
old.
Mr. Weeyoong Lee
is the Technical
Operation Manager
[Samutsakorn Factory].
He is Australian
nationality.
Mr. Saravuth Kaewsom is
the Operation Manager.
He is Thai
nationality.
Ms. Wanphen
Darnsiriwattanakul is the
Human Resources &
Administration Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in
manufacturing wide range
of industrial chemicals
mainly
for construction, appliance,
footwear, textile, plastic,
aviation, construction, technology,
agriculture, healthcare, detergent,
personal care, furniture,
packaging, paint, coating
and automotive industries,
under its own
brand “HUNTSMAN”.
PURCHASE
Raw material and
chemicals are purchased from both
domestic and international
suppliers such as
United States of
America, Germany, France,
Spain, Malaysia, Japan, Taiwan, Singapore,
India and Republic
of China.
MAJOR SUPPLIER
Huntsman International LLC.
: U.S.A.
SALES
80% of the
products is sold
locally by wholesale
to dealers, manufacturers
and
end-users.
EXPORT
20% of the products
is exported to Vietnam,
Malaysia, Singapore, Indonesia,
Philippines, Japan, Korea,
India, Hong Kong,
Brunei, Republic of
China and Taiwan.
MAJOR CUSTOMERS
Summit Footwear Co.,
Ltd. : Thailand
Thai Summit Group
of companies : Thailand
Thai Taffeta Co.,
Ltd. : Thailand
Erawan Textile co.,
Ltd,. : Thailand
TOA Group of
Companies : Thailand
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
Kasikornbank Public Co.,
Ltd.
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 380 office
staff and factory
workers.
LOCATION DETAILS
The premise is
owned for administrative office and
factory I at the
heading address. Premise
is located in
industrial area.
Factory II [Textile Chemical
Division] is located
at 90/2 Moo
4, Bangpla Rd.,
Bangkhoh, Muang, Samutsakorn
74000. Tel.: [66] 34 468-643-4.
Branches:
44/1 Ladkrabang Industrial
Estate, Moo 4, Chalongkrung
Rd., Lamplatiw, Ladkrabang,
Bangkok
19 Moo 5,
Sethakij 1 Rd.,
Thamai, Krathumban, Samutsakorn province
90/122 Moo 4,
Bangpla, Bankoh, Muang,
Samutsakorn province
119/1 Moo 1, Klongmai,
Sampran, Nakornpathom province
222 Moo 6, Suksawad Rd.,
Naiklongbangplakod, Phrasamutjadee, Samutprakarn province
90/123 Moo 4, Bangpla, Bankoh,
Muang, Samutsakorn province
COMMENT
Subject is a manufacturer,
distributor and exporter of industrial
chemicals. The products have been served to industrial users. Subject reported excellent
sales in the past several years. Its manufacture
has ultimately advance
production adhering to
international standards.
The subject’s business
is promising and
growing moderately amidst
current economic slowdown
and political turmoil.
FINANCIAL INFORMATION
The capital was registered at
Bht. 4,000,000 divided
into 40,000 shares
of Bht. 100 each.
On August 20,
1999, the capital
was increased to
Bht. 6,000,000 divided into
60,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at June
28, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Huntsman International L.L.C. Nationality: American Address : 500
Huntsman Way, Salt Lake
City, Utah, U. S. A. |
30,590 |
50.98 |
|
Huntsman Investment [Netherlands] BV. Nationality: Dutch Address : 3221
Rotterdam, Netherlands |
29,400 |
49.00 |
|
Huntsman Polyurethane Fund
I L.L.C. Nationality: American Address : 500
Huntsman Way, Salt Lake
City, Utah, U. S. A. |
2 |
|
|
Huntsman Polyurethane Fund
II L.L.C. Nationality: American Address : 500
Huntsman Way, Salt Lake
City, Utah, U. S. A. |
2 |
|
|
Huntsman Polyurethane Fund
III L.L.C. Nationality: American Address : 500
Huntsman Way, Salt Lake
City, Utah, U. S. A. |
2 |
= 0.02 |
|
Huntsman Polyurethane Fund
IV L.L.C. Nationality: American Address : 500
Huntsman Way, Salt Lake
City, Utah, U. S. A. |
2 |
|
|
Huntsman Polyurethane Venture
I L.L.C. Nationality: American Address : 500
Huntsman Way, Salt Lake
City, Utah, U. S. A. |
2 |
|
Total Shareholders : 7
Share Structure [as
at June 28,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
7 |
60,000 |
100.00 |
|
Total |
7 |
60,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Pranee Pholngam No.
4987
BALANCE SHEET [BAHT]
The latest
financial figures published
for December 31, 2012,
2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
106,238,883 |
135,671,491 |
99,464,027 |
|
Trade Accounts & Other Receivable |
1,207,965,841 |
779,768,153 |
730,905,369 |
|
Inventories |
1,167,850,823 |
646,548,210 |
1,068,743,702 |
|
Receivable from Revenue
Department |
102,571,869 |
191,095,657 |
159,187,545 |
|
Deferred Refundable Input
Tax |
1,407,051 |
16,994,075 |
344,891 |
|
Prepaid Income Tax |
37,957,231 |
- |
- |
|
Other Current Assets
|
9,647,170 |
13,793,388 |
9,062,146 |
|
|
|
|
|
|
Total Current Assets
|
2,633,638,868 |
1,783,870,974 |
2,067,707,680 |
|
Fixed Assets |
1,204,680,929 |
1,094,249,102 |
865,779,412 |
|
Other Non-current Assets |
50,446,779 |
50,923,783 |
50,178,937 |
|
Total Assets |
3,888,766,576 |
2,929,043,859 |
2,983,666,029 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
1,833,362,055 |
658,972,750 |
719,307,998 |
|
Accrued Expenses |
46,558,958 |
44,748,660 |
56,656,249 |
|
Accrued Income Tax |
- |
15,047,369 |
75,461,056 |
|
Other Current Liabilities |
30,531,136 |
19,095,303 |
36,057,728 |
|
|
|
|
|
|
Total Current Liabilities |
1,910,452,149 |
737,864,082 |
887,483,031 |
|
Long-term Loan from Related Company |
671,166,627 |
671,166,627 |
671,166,627 |
|
Estimated Liabilities for
Employee Benefits |
17,537,043 |
15,797,794 |
- |
|
Total Liabilities |
2,599,155,819 |
1,424,828,503 |
1,558,649,658 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value authorized, issued
and fully paid share
capital 60,000 shares |
6,000,000 |
6,000,000 |
6,000,000 |
|
|
|
|
|
|
Capital Paid |
6,000,000 |
6,000,000 |
6,000,000 |
|
Premium on Share
Capital |
185,395,200 |
185,395,200 |
185,395,200 |
|
Retained Earning Appropriated for
Statutory Reserve |
9,846,357 |
9,846,357 |
9,846,357 |
|
Unappropriated |
1,088,369,200 |
1,302,973,799 |
1,223,774,814 |
|
Total Shareholders' Equity |
1,289,610,757 |
1,504,215,356 |
1,425,016,371 |
|
Total Liabilities &
Shareholders' Equity |
3,888,766,576 |
2,929,043,859 |
2,983,666,029 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
5,623,371,047 |
4,290,277,180 |
4,485,653,203 |
|
Gain on Exchange Rate |
2,213,899 |
- |
- |
|
Other Income |
12,979,790 |
14,873,918 |
16,929,174 |
|
Total Revenues |
5,638,564,736 |
4,305,151,098 |
4,502,582,377 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
4,527,421,021 |
3,669,979,961 |
3,538,618,942 |
|
Selling Expenses |
60,996,206 |
57,818,459 |
66,426,798 |
|
Administrative Expenses |
398,464,374 |
387,625,187 |
455,248,362 |
|
Other Expense |
830,348,582 |
- |
- |
|
Loss on Exchange
Rate |
- |
6,310,474 |
220,493 |
|
Total Expenses |
5,817,230,183 |
4,121,734,081 |
4,060,514,595 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
[178,665,447] |
183,417,017 |
442,067,782 |
|
Financial Cost |
[35,939,152] |
[33,950,850] |
[31,962,876] |
|
Profit before Income Tax |
[214,604,599] |
149,466,167 |
410,104,906 |
|
Income Tax |
- |
[55,054,401] |
[137,411,900] |
|
|
|
|
|
|
Net Profit / [Loss] |
[214,604,599] |
94,411,766 |
272,693,006 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.38 |
2.42 |
2.33 |
|
QUICK RATIO |
TIMES |
0.69 |
1.24 |
0.94 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.67 |
3.92 |
5.18 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.45 |
1.46 |
1.50 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
94.15 |
64.30 |
110.24 |
|
INVENTORY TURNOVER |
TIMES |
3.88 |
5.68 |
3.31 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
78.41 |
66.34 |
59.47 |
|
RECEIVABLES TURNOVER |
TIMES |
4.66 |
5.50 |
6.14 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
147.81 |
65.54 |
70.31 |
|
CASH CONVERSION CYCLE |
DAYS |
24.75 |
65.10 |
99.40 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
80.51 |
85.54 |
78.89 |
|
SELLING & ADMINISTRATION |
% |
8.17 |
10.38 |
11.63 |
|
INTEREST |
% |
0.64 |
0.79 |
0.71 |
|
GROSS PROFIT MARGIN |
% |
19.76 |
14.80 |
21.49 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(3.18) |
4.28 |
9.86 |
|
NET PROFIT MARGIN |
% |
(3.82) |
2.20 |
6.08 |
|
RETURN ON EQUITY |
% |
(16.64) |
6.28 |
19.14 |
|
RETURN ON ASSET |
% |
(5.52) |
3.22 |
9.14 |
|
EARNING PER SHARE |
BAHT |
(3,576.74) |
1,573.53 |
4,544.88 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.67 |
0.49 |
0.52 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.02 |
0.95 |
1.09 |
|
TIME INTEREST EARNED |
TIMES |
(4.97) |
5.40 |
13.83 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
31.07 |
(4.36) |
|
|
OPERATING PROFIT |
% |
(197.41) |
(58.51) |
|
|
NET PROFIT |
% |
(327.31) |
(65.38) |
|
|
FIXED ASSETS |
% |
10.09 |
26.39 |
|
|
TOTAL ASSETS |
% |
32.77 |
(1.83) |
|
ANNUAL GROWTH : SATISFACTORY
An annual sales growth is 31.07%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
19.76 |
Deteriorated |
Industrial Average |
43.06 |
|
Net Profit Margin |
(3.82) |
Deteriorated |
Industrial Average |
3.49 |
|
Return on Assets |
(5.52) |
Deteriorated |
Industrial Average |
3.06 |
|
Return on Equity |
(16.64) |
Deteriorated |
Industrial Average |
6.38 |
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 19.76%. 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 -3.82%.
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 -5.52%.
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 -16.64%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.38 |
Satisfactory |
Industrial Average |
1.46 |
|
Quick Ratio |
0.69 |
|
|
|
|
Cash Conversion Cycle |
24.75 |
|
|
|
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 1.38 times in 2012, decreased from 2.42 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 0.69 times in 2012,
decreased from 1.24 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 25 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.67 |
Acceptable |
Industrial Average |
0.48 |
|
Debt to Equity Ratio |
2.02 |
Risky |
Industrial Average |
0.93 |
|
Times Interest Earned |
(4.97) |
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 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 -4.98 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 0.67 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.67 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.45 |
Impressive |
Industrial Average |
0.88 |
|
Inventory Conversion Period |
94.15 |
|
|
|
|
Inventory Turnover |
3.88 |
Impressive |
Industrial Average |
3.73 |
|
Receivables Conversion Period |
78.41 |
|
|
|
|
Receivables Turnover |
4.66 |
Satisfactory |
Industrial Average |
4.72 |
|
Payables Conversion Period |
147.81 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.66 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 64 days at the
end of 2011 to 94 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 5.68 times in year 2011 to 3.88 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.45 times and 1.46
times in 2012 and 2011 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.60.47 |
|
|
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.78.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SHG |
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.