MIRA INFORM REPORT
|
Report Date : |
23.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAPNUTRISCIENCE CO.,
LTD. |
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Registered Office : |
626 Moo 4, Bangpoo
Industrial Estate, |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
31.01.2006 |
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Com. Reg. No.: |
0115549001097 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
engaged in distributing and exporting various
types of fertilizers for
Crops Production under
the brand “NAP”.
Subject products and
sub-brands are as
follows: ·
Mammoth ·
Calcium Boron
[dark liquid] ·
Calcium Boron
Chelates [clear liquid] ·
Diz Chelates
[dark liquid] ·
Combi Chelates
[clear liquid] ·
Ready Mix
Fully Synthetic ·
Effervescent Chelates
White Powder ·
NAP Thai
Rice ·
Special Products |
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No of Employees : |
18 |
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 |
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Status : |
Satisfactory |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
With
a well-developed infrastructure, a free-enterprise economy, generally
pro-investment policies, and strong export industries,
|
Source : CIA |
Company name
NAPNUTRISCIENCE CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 626
MOO 4, BANGPOO
INDUSTRIAL ESTATE,
TELEPHONE : [66] 2752-6959
FAX :
[66] 2320-4100
E-MAIL
ADDRESS : nart@napnutriscience.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2006
REGISTRATION
NO. : 0115549001097
TAX
ID NO. : 3381076532
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT.
100,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MS.
NART FONGSMUT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 18
LINES
OF BUSINESS : FERTILIZERS
FORMULATOR, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The subject
was established on January 31, 2006 as
a private limited
company under the
registered name NAPNUTRISCIENCE
CO., LTD., by Thai group, with the business
objective to distribute
various types of fertilizers to
both domestic and
international markets. It
currently employs 18
staff.
The subject’s registered address is 626
Moo 4, Bangpoo Industrial Estate,
Sukhumvit Road, T. Preaksa,
A. Muang, Samutprakarn 10280,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Nart Fongsmut |
|
Thai |
50 |
|
Mr. Anuthep Fongsmut |
|
Thai |
47 |
|
Mr. Pongthep Fongsmut |
|
Thai |
44 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject with
company’s affixed.
MANAGEMENT
Ms. Nart Fongsmut is
the Managing Director.
She is Thai
nationality with the
age of 50
years old.
Mr. Somchai Puttirat is
the Global Marketing
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
distributing and exporting
various types of
fertilizers for crops
production under the
brand “NAP”. The
products and sub-brands
are as follows:
·
Mammoth
·
Calcium Boron
[dark liquid]
·
Calcium Boron
Chelates [clear liquid]
·
Diz Chelates
[dark liquid]
·
Combi Chelates
[clear liquid]
·
Ready Mix
Fully Synthetic
·
Effervescent Chelates
White Powder
·
NAP Thai
Rice
·
Special Products
PURCHASE
100% of the
products is purchased from
local suppliers.
MAJOR
SUPPLIER
Nap
Nutriscience [Thailand] Co.,
Ltd.
SALES
Its products are
sold by wholesale
to both local
and overseas customers
in Malaysia, Indonesia,
Vietnam, Nepal, Philippines,
Taiwan, Korea, and
Republic of China.
MAJOR CUSTOMERS
Guangdong Justagrotech Co., Ltd. : Republic
of China
Thep Watana Co.,
Ltd. : Thailand
RELATED AND AFFILIATED
COMPANIES
Nap Nutrisciene [Thailand]
Co., Ltd.
Business Type :
Fertilizers formulator
Granular Corporation Co.,
Ltd.
Business Type :
Fertilizers formulator
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.
Exports are against
T/T.
BANKING
The
banker’s name was
not disclosed.
EMPLOYMENT
The
subject currently employs
18 staff.
LOCATION
DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in provincial, on
the outskirts of
Bangkok.
Branches:
-
613/1
Moo 4, Sukhumvit
Road, T. Preaksa, A. Muang,
Samutprakarn 10280.
-
324 Soi Anamai,
Srinakarin Road, Suanluang,
Bangkok 10250.
-
382/1
Soi 6C Sukhumvit
Road, T. Preaksa, A. Muang,
Samutprakarn 10280.
COMMENT
The
subject provides clients with
value based solutions. Its
formulated fertilizers
have been developed through experiences, founded on integrity,
desire for results, and
a passion for
excellence.
Its
professional is committed
to provide good
products and services.
FINANCIAL INFORMATION
The
capital was registered at Bht. 1,000,000
divided into 200,000 shares of
Bht. 5 each with
fully paid.
The
capital was increased
later as follows:
Bht. 5,000,000
on June 5,
2006
Bht. 15,000,000
on February 6,
2008
Bht. 30,000,000
on July 21,
2001
Bht. 66,000,000
on August 9, 2012
Bht. 100,000,000
on March 21,
2013
The
latest registered capital
was increased to
Bht. 100 million, divided
into 20,000,000 shares
of Bht. 5 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 17, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Nart Fongsmut Nationality: Thai Address : 65/24
Wireless Road, Lumpini,
Pathumwan, Bangkok |
6,666,666 |
33.34 |
|
Mr. Pongthep Fongsmut Nationality: Thai Address : 606/3
Soi Sukhumvit 63,
Sukhumvit Rd.,
Klongtonnua, Wattana, Bangkok |
6,666,665 |
33.33 |
|
Mr. Anuthep Fongsmut Nationality: Thai Address : 324
Soi Anamai, Srinakarin
Road,
Suanluang, Bangkok |
5,666,667 |
28.33 |
|
Cheetah Performance Co.,
Ltd. Nationality: Thai Address : 96/3
Bangna-Trad Road, K.M. 15,
Bangchalong, Bangplee, Samutprakarn |
999,998 |
5.00 |
|
Mr. Suthep Fongsamut Nationality: Thai Address : 606/3
Soi Sukhumvit 63,
Sukhumvit Rd.,
Klongtonnua, Wattana, Bangkok
|
1 |
- |
|
Mrs. Amnuay Fongsmut Nationality: Thai Address : 606/3
Soi Sukhumvit 63,
Sukhumvit Rd., Klongtonnua, Wattana,
Bangkok |
1 |
- |
|
Mr. Yongyut Sukchamsai Nationality: Thai Address : 458/1
Soi Tharualee, T. Bangplasroy, A.
Muang, Chonburi |
1 |
- |
|
Ms. Ubonwan Wongsilapamorakot Nationality: Thai Address :
123/90 Moo 11,
T. Bangpla, A. Bangplee,
Samutprakarn |
1 |
- |
Total Shareholders : 8
Share Structure [as
at April 17,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
20,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
20,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Varaporn Aoonpitipongsa No.
5132
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
23,424,967.14 |
4,510,750.59 |
662,523.77 |
|
Trade Accounts &
Other Receivable |
14,319,929.92 |
15,815,038.83 |
29,225,337.31 |
|
Inventories |
5,809,019.64 |
8,098,943.62 |
6,910,437.45 |
|
Other Current Assets
|
2,403,167.84 |
389,298.55 |
158,235.28 |
|
|
|
|
|
|
Total Current Assets
|
45,957,084.54 |
28,814,031.59 |
36,956,533.81 |
|
Cash at Bank
pledged as a Collateral |
178,811.50 |
175,000.00 |
- |
|
Fixed Assets |
84,683,495.67 |
48,022,207.52 |
3,058,137.32 |
|
Intangible Assets |
1.00 |
1.00 |
1.00 |
|
Other Non-current Assets |
214,000.00 |
220,000.00 |
- |
|
Total Assets |
131,033,392.71 |
77,231,240.11 |
40,014,672.13 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank
Overdraft & Short-term Loan
from
Financial Institution |
- |
- |
217,671.59 |
|
Trade
Accounts & Other
Payable |
20,457,436.55 |
5,391,663.40 |
5,864,888.35 |
|
Current Portion
of Lease Contract
Liabilities |
1,141,872.22 |
- |
- |
|
Accrued Income
Tax |
508,152.83 |
292,192.52 |
499,491.84 |
|
Other Current
Liabilities |
140,410.82 |
93,969.98 |
91,926.44 |
|
|
|
|
|
|
Total Current
Liabilities |
22,247,872.42 |
5,777,825.90 |
6,673,978.22 |
|
Reserve for
Long-term Employee Benefit
|
672,432.20 |
353,348.80 |
90,183.40 |
|
Total Liabilities |
22,920,304.62 |
6,131,174.70 |
6,764,161.62 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 5.00 par
value Authorize, issued
and fully paid share capital
20,000,000 shares
in 2013 |
100,000,000.00 |
|
|
|
13,200,000 shares
in 2012 |
|
66,000,000.00 |
|
|
6,000,000 shares
in 2011 |
|
|
30,000,000.00 |
|
|
|
|
|
|
Capital Paid |
100,000,000.00 |
66,000,000.00 |
30,000,000.00 |
|
Retained Earning - Unappropriated
[Deficit] |
8,113,088.09 |
5,100,065.41 |
3,250,510.51 |
|
|
|
|
|
|
Total Shareholders' Equity |
108,113,088.09 |
71,100,065.41 |
33,250,510.51 |
|
Total Liabilities &
Shareholders' Equity |
131,033,392.71 |
77,231,240.11 |
40,014,672.13 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
47,840,104.49 |
39,037,198.30 |
45,168,829.74 |
|
Other Income |
3,204,995.84 |
2,424,023.20 |
2,775,457.60 |
|
Total Revenues |
51,045,100.33 |
41,461,221.50 |
47,944,287.34 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
34,381,283.27 |
27,038,182.06 |
33,212,007.50 |
|
Selling Expenses |
7,637,054.62 |
6,841,292.37 |
7,253,478.03 |
|
Administrative Expenses |
5,125,576.26 |
4,998,701.57 |
4,738,054.87 |
|
Total Expenses |
47,143,914.15 |
38,878,176.00 |
45,203,540.40 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost &
Income Tax |
3,901,186.18 |
2,583,045.50 |
2,740,746.94 |
|
Financial Cost |
[34,440.40] |
[38,355.25] |
[77,849.56] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
3,866,745.78 |
2,544,690.25 |
2,662,897.38 |
|
Income Tax |
[853,723.10] |
[695,135.35] |
[878,514.29] |
|
Net Profit / [Loss] |
3,013,022.68 |
1,849,554.90 |
1,784,383.09 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.07 |
4.99 |
5.54 |
|
QUICK RATIO |
TIMES |
1.70 |
3.52 |
4.48 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
0.56 |
0.81 |
14.77 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.37 |
0.51 |
1.13 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
61.67 |
109.33 |
75.95 |
|
INVENTORY TURNOVER |
TIMES |
5.92 |
3.34 |
4.81 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
109.26 |
147.87 |
236.16 |
|
RECEIVABLES TURNOVER |
TIMES |
3.34 |
2.47 |
1.55 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
217.18 |
72.78 |
64.46 |
|
CASH CONVERSION CYCLE |
DAYS |
(46.26) |
184.42 |
247.65 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
71.87 |
69.26 |
73.53 |
|
SELLING & ADMINISTRATION |
% |
26.68 |
30.33 |
26.55 |
|
INTEREST |
% |
0.07 |
0.10 |
0.17 |
|
GROSS PROFIT MARGIN |
% |
34.83 |
36.95 |
32.62 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.15 |
6.62 |
6.07 |
|
NET PROFIT MARGIN |
% |
6.30 |
4.74 |
3.95 |
|
RETURN ON EQUITY |
% |
2.79 |
2.60 |
5.37 |
|
RETURN ON ASSET |
% |
2.30 |
2.39 |
4.46 |
|
EARNING PER SHARE |
BAHT |
0.15 |
0.14 |
0.30 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.17 |
0.08 |
0.17 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.21 |
0.09 |
0.20 |
|
TIME INTEREST EARNED |
TIMES |
113.27 |
67.35 |
35.21 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
22.55 |
(13.57) |
|
|
OPERATING PROFIT |
% |
51.03 |
(5.75) |
|
|
NET PROFIT |
% |
62.91 |
3.65 |
|
|
FIXED ASSETS |
% |
76.34 |
1,470.31 |
|
|
TOTAL ASSETS |
% |
69.66 |
93.01 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 22.55%. Turnover has increased from THB 39,037,198.30
in 2012 to THB 47,840,104.49 in 2013. While net profit has increased from THB
1,849,554.90 in 2012 to THB 3,013,022.68 in 2013. And total assets has
increased from THB 77,231,240.11 in 2012 to THB 131,033,392.71 in 2013.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
34.83 |
Deteriorated |
Industrial Average |
146.12 |
|
Net Profit Margin |
6.30 |
Impressive |
Industrial Average |
4.45 |
|
Return on Assets |
2.30 |
Deteriorated |
Industrial Average |
7.17 |
|
Return on Equity |
2.79 |
Deteriorated |
Industrial Average |
17.08 |
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 34.83%. 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 6.3%,
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 2.3%.
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 2.79%.
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 |
2.07 |
Impressive |
Industrial Average |
1.42 |
|
Quick Ratio |
1.70 |
|
|
|
|
Cash Conversion Cycle |
(46.26) |
|
|
|
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 2.07 times in 2013, decreased from 4.99 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 1.7 times in 2013,
decreased from 3.52 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 -47 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.17 |
Impressive |
Industrial Average |
0.52 |
|
Debt to Equity Ratio |
0.21 |
Impressive |
Industrial Average |
1.08 |
|
Times Interest Earned |
113.27 |
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 113.28 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 0.17 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
0.56 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.37 |
Deteriorated |
Industrial Average |
1.61 |
|
Inventory Conversion Period |
61.67 |
|
|
|
|
Inventory Turnover |
5.92 |
Impressive |
Industrial Average |
2.89 |
|
Receivables Conversion Period |
109.26 |
|
|
|
|
Receivables Turnover |
3.34 |
Satisfactory |
Industrial Average |
3.80 |
|
Payables Conversion Period |
217.18 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.34 and 2.47 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 109 days at the
end of 2012 to 62 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 3.34 times in year 2012 to 5.92 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.37 times and 0.51
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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.18 |
|
UK Pound |
1 |
Rs.98.85 |
|
Euro |
1 |
Rs.77.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.