MIRA
INFORM REPORT
|
Report Date : |
30.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER TECH CHRONOS
LIMITED |
|
|
|
|
Formerly known as |
CHRONOS |
|
|
|
|
Registered Office : |
93 Moo 9, Bangna-Trad Rd., K.M. 19,
T. Bangchalong, A.
Bangplee, Samutprakarn 10540 |
|
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|
|
Country : |
|
|
|
|
|
Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
18.03.1992 |
|
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Com. Reg. No.: |
0105535049149 |
|
|
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|
Legal Form : |
Private
Limited Company |
|
|
|
|
Line of Business : |
engaged
in importing, authorized
distributing and installation service
wide range of
industrial machinery for
various industries, such
as foods, feeds,
pet foods, seeds,
agricultural,
horticulture, minerals, chemicals,
wood products and
construction materials. |
|
|
|
|
No. of Employees : |
60 (approximately) |
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 |
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|
|
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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 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 is implementing a nation-wide 300 baht ($10) per
day minimum wage policy and deploying 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.
|
Source : CIA |
Company name
PREMIER TECH
CHRONOS LIMITED
[FORMER
: CHRONOS RICHARDSON [THAILAND] LTD.]
SUMMARY
BUSINESS
ADDRESS : 93
MOO 9, BANGNA-TRAD
ROAD, K.M. 19,
T.
BANGCHALONG, A. BANGPLEE,
SAMUTPRAKARN 10540,
THAILAND
TELEPHONE : [66] 2740-5001
FAX :
[66] 2312-6837-8
E-MAIL
ADDRESS : info@premiertechchronos.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1992
REGISTRATION
NO. : 0105535049149
TAX
ID NO. : 3011126424
CAPITAL REGISTERED : BHT. 8,000,000
CAPITAL PAID-UP : BHT.
8,000,000
SHAREHOLDER’S PROPORTION : FOREIGN
: 100%
FISCAL YEAR CLOSING DATE : FEBRUARY 28
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. ANDRE NOREAU,
CANADIAN
MANAGING DIRECTOR
NO.
OF STAFF : 60
LINES
OF BUSINESS : INDUSTRIAL MACHINERY
IMPORTER, DISTRIBUTOR & SERVICE PROVIDER
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
March 18, 1992
as a private
limited company under
the originally registered
name “Chronos Richardson
[Thailand] Ltd.” by
foreign groups. On September 27, 2000,
its registered name
was changed to “BMH
Chronos Richardson
[Thailand] Ltd.” and changed
back to the name “Chronos Richardson
[Thailand] Ltd.” on
February 28, 2003.
On March 2,
2010, its registered
name was finally
changed to PREMIER
TECH CHRONOS LIMITED.
Its business objective is
to import and
distribute wide range
of industrial machineries
to domestic market.
It currently employs
approximately 60 staff.
The subject is
a wholly owned
subsidiary of Premier Tech Holding
Europe NV., the
Dutch company.
The
subject’s registered address is 93
Moo 9, Bangna-Trad Rd., K.M. 19,
T. Bangchalong, A. Bangplee, Samutprakarn
10540, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Julian Charles Jones |
|
British |
63 |
|
Mr. Andre Noreau |
|
Canadian |
51 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Andre Noreau is
the Managing Director.
He is Canadian
nationality with the
age of 51
years old.
Ms. Kanokporn Huangvit is
the Accounting Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in importing, authorized
distributing and installation
service wide range
of industrial machinery
for various industries,
such as foods,
feeds, pet foods,
seeds, agricultural, horticulture,
minerals, chemicals, wood
products and construction
materials. Its products
and brands are
as follows:
Product Brand
Weighing System “Chrono-Weigh”, “Chrono-Tronic”
Feeding System “Chrono-Feed”
Bagging System “Chrono-Bag”
- Open
Mouth Bagging System “Chrono-Fill”
- Valve
Bagging System “Chrono-Val”
- Form, Fill
and Seal System “Chrono-Form”
- Bulk
Bag Filling System “Chrono-Max”
Palletising System “Chrono-Pal”
- Robot
Palletiser
- Compact
Palletiser
- High
Level Palletiser
- High
Speed Palletiser
Load Securing
System “Chrono-Stretch”
- Stretch
Hood System
The subject also
provides after sales
services.
PURCHASE
90%
of the products
is imported from
Germany, Netherlands and
Republic of China,
U.S.A. and the remaining
10% is purchased
from local suppliers.
MAJOR SUPPLIERS
Premier Tech Chronos
Ltd. : Republic
of China
Chronos BTH B.V. : Netherlands
Chronos BTH GmbH. : Germany
SALES
100% of the
products is sold locally to
manufacturers and end-users.
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
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.
BANKING
Bangkok
Bank Public Co.,
Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
EMPLOYMENT
The
subject currently employs
approximately 60 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in industrial area.
COMMENT
The
subject operates as an
importer and distributor of industrial
machineries. The subject
had recorded a
good performance in
its sales revenue
as at February
28, 2013, as
well as continue
expanding throughout the
year 2013. However,
the current political
turmoil and slowdown of the Thai
economy might dent
the demand of
the products in
the first half
of 2014.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 4,500,000 divided
into 45,000 shares of Bht. 100 each
with fully paid.
The
capital was increased
later as follows:
Bht. 6,000,000
on July 1,
2004
Bht. 8,000,000
on August 1,
2007
The
latest registered capital
was increased to
Bht. 8,000,000 divided
into 80,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
June 28, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Premier Tech Holding
Europe NV. Nationality: Dutch Address : Rotterdam,
Netherlands |
79,994 |
99.99 |
|
Premier Tech Ltd. Nationality: Canadian Address : Quebec,
Canada |
4 |
= 0.01 |
|
Premier Tech Technologies Ltd. Nationality: Canadian Address : Quebec,
Canada |
2 |
|
Total Shareholders : 3
Share Structure [as
at June 28,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
80,000 |
100.00 |
|
Total |
3 |
80,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Termpong Opanaphan No.
4501
BALANCE SHEET [BAHT]
The
latest financial figures
published for February
28, 2013, February
29, 2012 &
February 28, 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
26,590,172 |
38,490,605 |
20,336,728 |
|
Trade Accounts &
Other Receivable |
126,036,119 |
76,762,869 |
91,816,514 |
|
Lending to Director
& Deferred Interest |
6,831,902 |
6,783,827 |
6,727,586 |
|
Inventories |
58,897,183 |
45,394,638 |
72,463,154 |
|
Other Current Assets
|
2,480,992 |
4,314,822 |
3,254,904 |
|
|
|
|
|
|
Total Current Assets |
220,836,368 |
171,746,761 |
194,598,886 |
|
Cash at Bank pledged
as a Collateral |
9,527,807 |
5,527,807 |
5,527,807 |
|
Building Improvement &
Equipment |
7,486,214 |
8,810,053 |
11,726,098 |
|
Other Non-current Assets
|
3,143,537 |
2,506,757 |
2,434,707 |
|
Total Assets |
240,993,926 |
188,591,378 |
214,287,498 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
88,584,753 |
68,104,592 |
88,941,571 |
|
Current Portion of Finance
Lease Contract Liabilities |
1,072,240 |
1,018,295 |
1,368,557 |
|
Accrued Income Tax |
5,715,906 |
6,755,723 |
13,042,058 |
|
Reserve for Goods
Warranty |
3,000,000 |
3,000,000 |
2,896,176 |
|
Other Current Liabilities |
20,467,990 |
5,941,807 |
18,691,541 |
|
|
|
|
|
|
Total Current Liabilities |
118,840,889 |
84,820,417 |
124,939,903 |
|
Finance Lease Contract
Liabilities |
467,375 |
756,119 |
1,792,413 |
|
Reserve for Long-term
Employee Benefits |
233,603 |
782,057 |
669,325 |
|
Total Liabilities |
119,540,867 |
86,358,593 |
127,401,641 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par value
authorized, issued
and fully paid share
capital 80,000 shares |
8,000,000 |
8,000,000 |
8,000,000 |
|
|
|
|
|
|
Capital Paid |
8,000,000 |
8,000,000 |
8,000,000 |
|
Retained Earning -
Unappropriated |
113,452,059 |
94,232,785 |
78,885,857 |
|
Total Shareholders' Equity |
121,452,059 |
102,232,785 |
86,885,857 |
|
Total Liabilities &
Shareholders' Equity |
240,993,926 |
188,591,378 |
214,287,498 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
Feb. 28, 2013 |
Feb. 29, 2012 |
Feb. 28, 2011 |
|
|
|
|
|
|
Sales |
324,608,900 |
271,271,693 |
254,386,350 |
|
Service Income |
5,460,347 |
2,354,640 |
3,855,534 |
|
Accrued Right [Reversal] |
- |
- |
15,705,584 |
|
Gain on Exchange
Rate |
- |
2,568,831 |
- |
|
Other Income |
4,852,971 |
3,881,544 |
3,803,979 |
|
Total Revenues |
334,922,218 |
280,076,708 |
277,751,447 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
183,057,958 |
153,099,245 |
145,840,336 |
|
Selling Expenses |
48,153,232 |
40,441,453 |
23,682,047 |
|
Administrative Expenses |
72,420,548 |
62,048,507 |
58,673,925 |
|
Loss on Exchange
Rate |
1,214,901 |
- |
3,919,336 |
|
Total Expenses |
304,846,639 |
255,589,205 |
232,115,644 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
30,075,579 |
24,487,503 |
45,635,803 |
|
Financial Cost |
[70,972] |
[99,853] |
[135,305] |
|
Profit / [Loss] before Income Tax |
30,004,607 |
24,387,650 |
45,500,498 |
|
Income Tax |
[10,785,333] |
[9,040,722] |
[16,093,946] |
|
|
|
|
|
|
Net Profit / [Loss] |
19,219,274 |
15,346,928 |
29,406,552 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.86 |
2.02 |
1.56 |
|
QUICK RATIO |
TIMES |
1.34 |
1.44 |
0.95 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
44.09 |
31.06 |
22.02 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.37 |
1.45 |
1.21 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
117.44 |
108.22 |
181.36 |
|
INVENTORY TURNOVER |
TIMES |
3.11 |
3.37 |
2.01 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
139.37 |
102.40 |
129.77 |
|
RECEIVABLES TURNOVER |
TIMES |
2.62 |
3.56 |
2.81 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
176.63 |
162.37 |
222.60 |
|
CASH CONVERSION CYCLE |
DAYS |
80.18 |
48.25 |
88.53 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
55.46 |
55.95 |
56.47 |
|
SELLING & ADMINISTRATION |
% |
36.53 |
37.46 |
31.89 |
|
INTEREST |
% |
0.02 |
0.04 |
0.05 |
|
GROSS PROFIT MARGIN |
% |
46.01 |
46.41 |
51.08 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.11 |
8.95 |
17.67 |
|
NET PROFIT MARGIN |
% |
5.82 |
5.61 |
11.39 |
|
RETURN ON EQUITY |
% |
15.82 |
15.01 |
33.85 |
|
RETURN ON ASSET |
% |
7.98 |
8.14 |
13.72 |
|
EARNING PER SHARE |
BAHT |
240.24 |
191.84 |
367.58 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.50 |
0.46 |
0.59 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.98 |
0.84 |
1.47 |
|
TIME INTEREST EARNED |
TIMES |
423.77 |
245.24 |
337.28 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
20.63 |
5.96 |
|
|
OPERATING PROFIT |
% |
22.82 |
(46.34) |
|
|
NET PROFIT |
% |
25.23 |
(47.81) |
|
|
FIXED ASSETS |
% |
(15.03) |
(24.87) |
|
|
TOTAL ASSETS |
% |
27.79 |
(11.99) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 20.63%. Turnover has increased from THB
273,626,333.00 in 2012 to THB 330,069,247.00 in 2013. While net profit has increased
from THB 15,346,928.00 in 2012 to THB 19,219,274.00 in 2013. And total assets
has increased from THB 188,591,378.00 in 2012 to THB 240,993,926.00 in 2013.
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
46.01 |
Impressive |
Industrial Average |
14.50 |
|
Net Profit Margin |
5.82 |
Satisfactory |
Industrial Average |
6.10 |
|
Return on Assets |
7.98 |
Acceptable |
Industrial Average |
11.09 |
|
Return on Equity |
15.82 |
Acceptable |
Industrial Average |
23.54 |
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. Gross Profit Margin is 46.01%. 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 5.82%.
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 7.98%.
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 15.82%.
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 |
1.86 |
Impressive |
Industrial Average |
1.69 |
|
Quick Ratio |
1.34 |
|
|
|
|
Cash Conversion Cycle |
80.18 |
|
|
|
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 1.86 times in 2013, decrease from 2.02 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 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 1.34 times in 2013,
decrease from 1.44 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 81 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.50 |
Impressive |
Industrial Average |
0.53 |
|
Debt to Equity Ratio |
0.98 |
Impressive |
Industrial Average |
1.13 |
|
Times Interest Earned |
423.77 |
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 423.77 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 0.5 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
44.09 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.37 |
Satisfactory |
Industrial Average |
1.82 |
|
Inventory Conversion Period |
117.44 |
|
|
|
|
Inventory Turnover |
3.11 |
Acceptable |
Industrial Average |
5.53 |
|
Receivables Conversion Period |
139.37 |
|
|
|
|
Receivables Turnover |
2.62 |
Acceptable |
Industrial Average |
3.65 |
|
Payables Conversion Period |
176.63 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.62 and 3.56 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
decreased from 2012. This would suggest the company had deteriorated 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 increased from 108 days at the
end of 2012 to 117 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 3.37 times in year 2012 to 3.11 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.37 times and 1.45
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.60.48 |
|
UK Pound |
1 |
Rs.100.35 |
|
Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
Div |
|
|
|
|
Report Prepared
by : |
NIS |
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.