MIRA
INFORM REPORT
|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GIANSINGH AMARNATH CORPORATION LTD. |
|
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Registered Office : |
Chakrawad, Samphantawong, |
|
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Country : |
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Financials (as on) : |
31.12.2007 |
|
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Date of Incorporation : |
09.04.2002 |
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Com. Reg. No.: |
0105545038891 |
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Legal Form : |
Private Limited
Company |
|
|
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|
Line of Business : |
Importer,
Distributor and Exporter Textile Products |
|
|
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|
No of Employees : |
25 |
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 |
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Payment Behaviour : |
Slow |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. Thailand is trying to maintain growth by
encouraging domestic consumption and public investment to offset weak exports
in 2012. 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
crisis severely cut Thailand's exports, with most sectors experiencing
double-digit drops. In 2009, the economy contracted 2.3%. However, in 2010,
Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports
rebounded. In late 2011 growth was interrupted by historic flooding in the
industrial areas in Bangkok and its five surrounding provinces, crippling the
manufacturing sector. Industry recovered from the second quarter of 2012 onward
with GDP growth at 5.5% in 2012. The government has 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 next
seven years with a plan to start in 2013.
|
Source
: CIA |
COMPANY NAME
GIANSINGH
AMARNATH CORPORATION LTD.
SUMMARY
BUSINESS
ADDRESS : 185-187 VANICH
1 ROAD,
CHAKRAWAD, SAMPHANTAWONG,
BANGKOK 10100,
THAILAND
TELEPHONE : [66] 2222-5168-9,
2224-0764-5
FAX :
[66] 2224-9552
E-MAIL
ADDRESS : info@giansingh.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2002
REGISTRATION
NO. : 0105545038891
TAX
ID NO. : 3030530196
CAPITAL REGISTERED : BHT. 45,000,000
CAPITAL PAID-UP : BHT.
45,000,000
SHAREHOLDER’S PROPORTION : THAI :
97.78%
INDIAN
: 2.22%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. TAVINCHAN KOGHAR,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 25
LINES
OF BUSINESS : TEXTILE PRODUCTS
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on April 9,
2002 as a
private limited company
under the registered
name GIANSINGH AMARNATH
CORPORATION LTD., by Thai-Indian
group, the Koghar
family. Its business
objective is to
import and distribute
a variety of
textiles to domestic
and oversea market.
It currently employs
25 staff.
The subject’s registered address
is 185-187 Vanich 1 Road,
Chakrawad, Samphantawong, Bangkok
10100, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Tavinchan Koghar |
|
Thai |
57 |
|
Mr. Anand Koghar |
|
Thai |
33 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Tavinchan Koghar is
the Managing Director.
He is Thai
nationality with the
age of 57
years old.
Mr. Anand Koghar is
the Assistant Managing
Director.
He is Thai
nationality with the
age of 33
years old.
BUSINESS OPERATIONS
The subject
is engaged in
importing and distributing
a variety of textiles,
as well as exporting of
local products, such
as garment and
automotive accessories. The
products are as
follows:
- Cotton / Viscose / Polyester / Nylon
- Polyester / Microfiber
- Flax / Linen / Ramie
- T/R
Suiting’s
- Spun
Polyester Sheeting’s
- Denim
for all fashion
in jeans wears
- Bedford
cord and heavy
fabric for accessories
like bags, shoes,
etc.
- Dyed
and Coated Polyester / Nylon Taffeta
- PU/PVC
Coated specialized fabric
for dress material
and accessories
- Functional Fabric:
Automobile, Textiles, Coated
Taffeta
- Cotton / Spandex Grey:
Cotton Spandex in wide
width ladies dress
material in stretch.
PURCHASE
Most of the
products are imported
from India, U.S.A.,
Japan, Indonesia and
the countries in
Europe, the remaining
is purchased from
local suppliers.
SALES [LOCAL]
100% of the products
is sold locally
by wholesale to
garment and automotive manufactures,
and by retail
to end-users through
the subject’s shop.
EXPORT
The local products
are exported to
India, Singapore, Japan
and U.S.A.
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 to 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
The
banker’s name was
not disclosed.
EMPLOYMENT
The
subject currently employs
25 staff.
LOCATION DETAILS
The
premise is rented for
administrative office and
shop at the
heading address. Premise
is located in
commercial area.
COMMENT
Subject
has been in
its business for
over decade. However,
it did not
reported sales revenue
to the public
for many consecutive
years. Therefore any
business engagement should
be on secured basis.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 20,000,000
divided into 20,000
shares of Bht.
1,000 each with
fully paid.
The
capital was increased
later as follows:
Bht. 30,000,000
on August 11,
2006
Bht. 35,000,000
on November 8,
2006
Bht. 45,000,000
on October 31,
2008
The
latest registered capital
was increased to
Bht. 45,000,000 divided
into 45,000 shares
of Bht. 1,000 each with fully
paid.
THE SHAREHOLDERS
LISTED WERE
[as at March
28, 2011]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Tavinchan Koghar Nationality: Thai Address : 185
Vanich 1 Road,
Chakrawad,
Samphantawong, Bangkok |
32,000 |
71.12 |
|
Mr. Anand Koghar Nationality: Thai Address : 4
Sukhumvit Road, Klongtoeynua,
Wattana, Bangkok |
8,000 |
17.78 |
|
Mrs. Phawitter Nationality: Indian Address : 4 Sukhumvit
Road, Klongtoeynua,
Wattana, Bangkok |
1,000 |
2.22 |
|
Ms. Kiran Koghar Nationality: Thai Address : 4
Sukhumvit Road, Klongtoeynua,
Wattana, Bangkok |
1,000 |
2.22 |
|
Mr. Sukjai Koghar Nationality: Thai Address : 1051
Mahajak Road, Chakrawad,
Samphantawong, Bangkok |
1,000 |
2.22 |
|
Mrs. Waraporn Saengsuk Nationality: Thai Address : 82/85
Moo 6, Sethakij
Road, T. Thasai, A.
Muang, Samutsakorn |
1,000 |
2.22 |
|
Mrs. Panyika Sayompop Nationality: Thai Address : 2940
Krungthep-Nonthaburi Road,
Bangsue, Bangkok |
1,000 |
2.22 |
Total Shareholders : 7
Share Structure [as
at March 28,
2011]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
44,000 |
97.78 |
|
Foreign-Indian |
1 |
1,000 |
2.22 |
|
Total |
7 |
45,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO
Mrs. Orathai Kosallawat No.
1961
Note:
The 2008-2012 financial
statements were not
submitted to the
Commercial Registration Department
during investigation.
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2007, 2006
& 2005 were:
ASSETS
|
Current Assets |
2007 |
2006 |
2005 |
|
|
|
|
|
|
Cash and Cash Equivalents |
355,112.91 |
388,119.04 |
1,809,632.75 |
|
Trade Accounts Receivable
|
24,163,951.15 |
23,041,246.15 |
18,583,256.86 |
|
Inventories |
127,818,405.61 |
130,827,320.44 |
144,004,708.23 |
|
Other Current Assets |
4,110,272.57 |
4,344,641.33 |
10,533,876.74 |
|
|
|
|
|
|
Total Current Assets
|
156,447,742.24 |
158,601,326.96 |
174,931,474.58
|
|
|
|
|
|
|
Fixed Assets |
2,763,966.62 |
3,195,131.88 |
3,477,257.14 |
|
Deposit |
764,700.00 |
764,700.00 |
746,700.00 |
|
Total Assets |
159,976,408.86 |
162,561,158.84 |
179,155,431.72 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2007 |
2006 |
2005 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
80,094,753.59 |
81,194,326.37 |
73,844,308.52 |
|
Trade Accounts Payable
|
50,667,623.20 |
48,473,240.42 |
77,198,489.68 |
|
Current Portion of
Lease Contract Liabilities |
- |
815,256.00 |
939,072.00 |
|
Other Current Liabilities |
|
|
|
|
Accrued Income Tax |
11,017.47 |
269,470.17 |
1,148,565.81 |
|
Accrued Withholding Tax |
45,576.20 |
103,693.30 |
87,027.29 |
|
Accrues Expenses |
68,943.00 |
85,010.00 |
122,660.00 |
|
|
|
|
|
|
Total Current Liabilities |
130,887,913.46 |
130,940,996.26 |
153,340,123.30 |
|
Lease Contract Liabilities |
- |
382,238.53 |
1,088,301.67 |
|
Director Lenders |
- |
- |
4,600,000.00 |
|
Total Liabilities |
130,887,913.46 |
131,323,234.79 |
159,028,424.97 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 35,000 shares in 2007 & 2006; 20,000
shares in 2005 |
35,000,000.00 |
35,000,000.00 |
20,000,000.00 |
|
|
|
|
|
|
Capital Paid |
35,000,000.00 |
35,000,000.00 |
20,000,000.00 |
|
Retained Earning Unappropriated [Deficit] |
[5,911,504.60] |
[3,762,075.95] |
127,006.75 |
|
Total Shareholders' Equity |
29,088,495.40 |
31,237,924.05 |
20,127,006.75 |
|
Total Liabilities & Shareholders' Equity |
159,976,408.86 |
162,561,158.84 |
179,155,431.72 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2007 |
2006 |
2005 |
|
|
|
|
|
|
Sales Income |
65,418,245.63 |
158,334,727.27 |
242,142,408.56 |
|
Other Income |
1,722,468.48 |
1,383,266.25 |
1,587,756.60 |
|
Total Revenues |
67,140,714.11 |
159,717,993.52 |
243,730,165.16 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
55,232,620.44 |
139,526,511.25 |
225,186,220.15 |
|
Selling and Administrative Expenses |
10,812,537.86 |
19,623,823.65 |
17,952,867.02 |
|
Total Expenses |
66,045,158.30 |
159,150,334.90 |
243,139,087.17 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
1,095,555.81 |
567,658.62 |
591,077.99 |
|
Financial Cost |
[3,244,984.46] |
[4,419,426.09] |
[5,375,895.74] |
|
Income Tax |
- |
[37,315.23] |
[314,724.07] |
|
|
|
|
|
|
Net Profit / [Loss] |
[2,149,428.65] |
[3,889,082.70] |
[5,099,541.82] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2007 |
2006 |
2005 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.20 |
1.21 |
1.14 |
|
QUICK RATIO |
TIMES |
0.19 |
0.18 |
0.13 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
23.67 |
49.55 |
69.64 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.41 |
0.97 |
1.35 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
844.68 |
342.24 |
233.41 |
|
INVENTORY TURNOVER |
TIMES |
0.43 |
1.07 |
1.56 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
134.82 |
53.12 |
28.01 |
|
RECEIVABLES TURNOVER |
TIMES |
2.71 |
6.87 |
13.03 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
334.83 |
126.81 |
125.13 |
|
CASH CONVERSION CYCLE |
DAYS |
644.67 |
268.55 |
136.30 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
84.43 |
88.12 |
93.00 |
|
SELLING & ADMINISTRATION |
% |
16.53 |
12.39 |
7.41 |
|
INTEREST |
% |
4.96 |
2.79 |
2.22 |
|
GROSS PROFIT MARGIN |
% |
18.20 |
12.75 |
7.66 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.67 |
0.36 |
0.24 |
|
NET PROFIT MARGIN |
% |
(3.29) |
(2.46) |
(2.11) |
|
RETURN ON EQUITY |
% |
(7.39) |
(12.45) |
(25.34) |
|
RETURN ON ASSET |
% |
(1.34) |
(2.39) |
(2.85) |
|
EARNING PER SHARE |
BAHT |
(61.41) |
(111.12) |
(254.98) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.82 |
0.81 |
0.89 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.50 |
4.20 |
7.90 |
|
TIME INTEREST EARNED |
TIMES |
0.34 |
0.13 |
0.11 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(58.68) |
(34.61) |
|
|
OPERATING PROFIT |
% |
93.00 |
(3.96) |
|
|
NET PROFIT |
% |
44.73 |
23.74 |
|
|
FIXED ASSETS |
% |
(13.49) |
(8.11) |
|
|
TOTAL ASSETS |
% |
(1.59) |
(9.26) |
|
ANNUAL GROWTH : ACCEPTABLE
An annual sales growth is -58.68%. Turnover has decreased from THB
PROFITABILITY : ACCEPTABLE
PROFITABILITY RATIO
|
Gross Profit Margin |
18.20 |
Impressive |
Industrial
Average |
12.00 |
|
Net Profit Margin |
(3.29) |
Deteriorated |
Industrial
Average |
0.98 |
|
Return on Assets |
(1.34) |
Deteriorated |
Industrial
Average |
1.90 |
|
Return on Equity |
(7.39) |
Deteriorated |
Industrial
Average |
5.07 |
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 18.2%. 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 -3.29%.
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 -1.34%.
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 -7.39%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.20 |
Acceptable |
Industrial
Average |
1.72 |
|
Quick Ratio |
0.19 |
|
|
|
|
Cash Conversion Cycle |
644.67 |
|
|
|
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 1.2 times in 2007, decreased from 1.21 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 0.19 times in 2007,
increased from 0.18 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 645 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.82 |
Acceptable |
Industrial
Average |
0.61 |
|
Debt to Equity Ratio |
4.50 |
Risky |
Industrial
Average |
1.45 |
|
Times Interest Earned |
0.34 |
Risky |
Industrial
Average |
1.48 |
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 0.34 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 0.82 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 Downtrend
Times Interest Earned Uptrend
ACTIVITY : ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
23.67 |
Impressive |
Industrial
Average |
11.88 |
|
Total Assets Turnover |
0.41 |
Deteriorated |
Industrial
Average |
1.98 |
|
Inventory Conversion Period |
844.68 |
|
|
|
|
Inventory Turnover |
0.43 |
Deteriorated |
Industrial
Average |
5.07 |
|
Receivables Conversion Period |
134.82 |
|
|
|
|
Receivables Turnover |
2.71 |
Acceptable |
Industrial
Average |
3.67 |
|
Payables Conversion Period |
334.83 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.71 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 342 days at the
end of 2006 to 845 days at the end of 2007. This represents a negative trend.
And Inventory turnover has decreased from 1.07 times in year 2006 to 0.43 times
in year 2007.
The company's Total Asset Turnover is calculated as 0.41 times and 0.97
times in 2007 and 2006 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 Uptrend
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
|
Key Areas |
Score |
Weight |
Weighted
Score |
|
LIQUIDITY RATIO |
0.44 |
25.00 |
11.00 |
|
ACTIVITY RATIO |
1.33 |
20.00 |
26.60 |
|
PROFITABILITY
RATIO |
1.00 |
25.00 |
25.00 |
|
LEVERAGE RATIO |
0.44 |
10.00 |
4.40 |
|
ANNUAL GROWTH |
1.60 |
20.00 |
32.00 |
|
Total Weight
(excluding - - Score) |
|
100.00 |
|
|
|
|
|
99.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.31 |
|
|
1 |
Rs. 101.77 |
|
Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.