MIRA
INFORM REPORT
|
Report Date : |
15.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
PANEL DECOR CO., LTD. |
|
|
|
|
Registered Office : |
25th Floor, Ploenchit Center Building, 2 Sukhumvit 2 Road,
Klongtoey, Bangkok 10110 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
2006 |
|
|
|
|
Com. Reg. No.: |
0105549086122 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer & Distributor
of Melamine Faced Paper
Products |
|
|
|
|
No. of Employees : |
60 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
PANEL DECOR CO.,
LTD.
SUMMARY
BUSINESS ADDRESS : 25th FLOOR,
PLOENCHIT CENTER BUILDING,
2 SUKHUMVIT
2 ROAD, KLONGTOEY,
BANGKOK 10110,
THAILAND
TELEPHONE : [66] 2656-8527,
2656-8188
FAX : [66] 2656-8533-4,
2656-8135
E-MAIL ADDRESS : benjarakt@panelplus.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2006
REGISTRATION NO. : 0105549086122
TAX ID NO. : 3032292672
CAPITAL REGISTERED : BHT. 60,000,000
CAPITAL PAID-UP : BHT. 60,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
[Former : OCTOBER
31]
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS. AMPORN KANJANAKAMNURD, THAI
MANAGING
DIRECTOR
NO. OF STAFF : 60
LINES OF BUSINESS : MELAMINE FACED
PAPER PRODUCTS
MANUFACTURER
& DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH GOOD PERFORMANCE
HISTORY
The subject was
established on July
19, 2006 as
a private limited
company under the
name style PANEL
DECOR CO., LTD., by
Thai groups, with
the business objective
to manufacture melamine
faced paper and
melamine faced chipboard
for furniture industry.
It currently employs
approximately 60 staff.
The subject’s registered address
is 25th Flr.,
Ploenchit Center Bldg., 2
Sukhumvit 2 Rd.,
Klongtoey, Bangkok 10110,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Krisda Monthienvichienchai |
[x] |
Thai |
55 |
|
Mr. Isara Vongkusolkit |
[x] |
Thai |
62 |
|
Mr. Attapol Vongkusolkit |
|
Thai |
38 |
|
Mrs. Amporn Kanjanakamnurd |
[x] |
Thai |
46 |
|
Mr. Sukkarn Wattanavekin |
|
Thai |
54 |
|
Ms. Teeranart Vongkusolkit |
|
Thai |
43 |
AUTHORIZED PERSON
Any two of the
mentioned directors [x] can jointly sign on behalf of the
subject with company’s affixed.
MANAGEMENT
Mrs. Amporn Kanjanakamnurd is
the Managing Director.
She is Thai
nationality with the
age of 46
years old.
Mr. Thanaphan Thavakarn is
the Factory Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in manufacturing of melamine faced paper and
melamine faced chipboard for wooden surface
used in furniture
industry.
BRAND NAME
“PANEL PLUS”
PRODUCTION CAPACITY
23,500,000 square meters
per year
PURCHASE
Raw materials and
components are purchased
from local suppliers,
the remaining materials and
chemicals are imported from
Germany, United States of
America, Malaysia, India,
Republic of China, Japan and
Taiwan.
SALES
100% of the
products is sold
locally by wholesale
to wholesalers.
MAJOR CUSTOMERS
Panel Plus Co.,
Ltd. : Thailand
Furnish Board Co.,
Ltd. : Thailand
Modernform Group Public
Company Limited : Thailand
S.B. Furniture Industry
Co., Ltd. :
Thailand
PARENT COMPANY
Panel Plus Co.,
Ltd.
Address : 2
Sukhumvit 2 Rd.,
Klongtoey, Bangkok
RELATED AND AFFILIATED
COMPANY
Furnish Board Co.,
Ltd.
Business Type :
Distributor of melamine
faced paper
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.
BANKING
The Siam Commercial
Bank Public Co.,
Ltd.
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 60 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
417/116 Kanjanavanich Rd.,
T. Patong, A. Hadyai,
Songkhla 90230. Tel. :
[66] 74 291-130-4,
Fax. : [66] 74
291-019-20.
COMMENT
The subject was
formed in 2006
as a manufacturer
of melamine faced
paper products and chipboard for
wooden surface. The products are
mainly for domestic
industrial users especially
furniture industry. The subject performed
well in the
year 2012, meanwhile
its business in
2013 has grown
slowly.
FINANCIAL INFORMATION
The capital was initially
registered at Bht. 1,000,000 divided
into 10,000 shares of Bht.
100 each.
On December 29, 2006,
the capital was
increased to Bht. 60,000,000
divided into 600,000
shares of Bht.
100 each with
fully paid.
MAIN SHAREHOLDERS
[as at
April 23, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Panel Plus Co.,
Ltd. Nationality: Thai Address : 2
Sukhumvit 2 Rd.,
Klongtoey, Bangkok |
360,000 |
60.00 |
|
Mr. Kamol Vongkusolkit Nationality: Thai Address : 44
Moo 3, Krubyai,
Banpong, Ratchburi |
40,000 |
6.67 |
|
Mr. Soonthorn Vongkusolkit Nationality: Thai Address : 27
Sukhumvit 43 Rd.,
Klongtonnua,
Wattana, Bangkok |
28,000 |
4.67 |
|
Mr. Isara Vongkusolkit Nationality: Thai Address : 230/6
Sukhumvit 1 Rd.,
Klongtoeynua,
Wattana, Bangkok |
28,000 |
4.67 |
|
Mr. Vitoon Vongkusolkit Nationality: Thai Address : 102
Sukhumvit 33 Rd., Klongtoeynua, Wattana, Bangkok |
28,000 |
4.67 |
|
Wg. Cdr. Laksamee Vongkusolkit Nationality: Thai Address : 14/1
Phaholyothin 30 Rd.,
Chankasem,
Jatujak, Bangkok |
25,000 |
4.17 |
|
Eastern Sugar Co.,
Ltd. Nationality: Thai Address :
78 Charoenkrung 30
Rd., Bangrak, Bangkok |
21,740 |
3.62 |
|
Mrs. Vimol Kanjanakamnerd Nationality: Thai Address : 35/1
Moo 10, Thamaka,
Kanchanaburi |
20,000 |
3.33 |
|
Others |
49,260 |
8.20 |
Total Shareholders : 20
Share Structure [as
at April 23,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
20 |
600,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
20 |
600,000 |
100.00 |
NAME OF AUDITOR CERTIFICATED
PUBLIC ACCOUNTANT NO.
Mr. Sudwin Panyawongkhanti No. 3534
BALANCE SHEET [BAHT]
The latest financial
figures published for
December 31, 2012
& 2011 and
October 31, 2010
were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
16,387,491 |
14,669,931 |
28,988,437 |
|
Trade Accounts Receivable - Related Company |
34,373,687 |
57,880,765 |
52,613,644 |
|
Other Receivable - Parent
Company |
2,659 |
18,559 |
- |
|
Short-term Lending to
Parent Company |
63,799,183 |
- |
- |
|
Inventories |
82,700,309 |
96,183,341 |
82,237,015 |
|
Prepayment for Goods |
- |
10,047,625 |
5,425,464 |
|
Other Current Assets |
31,737 |
116,220 |
95,963 |
|
|
|
|
|
|
Total Current Assets
|
197,295,066 |
178,916,441 |
169,360,523 |
|
Fixed Assets |
129,676,724 |
130,109,186 |
144,275,619 |
|
Other Assets |
4,000 |
4,000 |
4,000 |
|
Total Assets |
326,975,790 |
309,029,627 |
313,640,142 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts Payable |
|
|
|
|
- Related Company |
12,815,606 |
12,600,463 |
10,755,065 |
|
- Other Company |
21,333,306 |
14,113,806 |
28,260,992 |
|
Current Portion of
Finance Lease Contract
Liabilities |
42,681 |
- |
- |
|
Short-term Loan from
Parent Company |
- |
45,000,000 |
- |
|
Short-term Loan from
Related Company |
- |
- |
111,000,000 |
|
Other Payable - Related
Company Payable |
1,211,929 |
1,404,476 |
1,434,566 |
|
- Other
Company |
1,277,382 |
1,215,463 |
- |
|
Accrued Expenses |
556,354 |
660,079 |
- |
|
Other Current Liabilities |
905,128 |
930,591 |
2,222,858 |
|
|
|
|
|
|
Total Current Liabilities |
38,142,386 |
75,924,878 |
153,673,481 |
|
Finance Lease Contract
Liabilities |
153,815 |
- |
- |
|
Employee Benefits Obligation |
223,314 |
181,325 |
- |
|
Total Liabilities |
38,519,515 |
76,106,203 |
153,673,481 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized, issued
and fully paid
share capital
600,000 shares |
60,000,000 |
60,000,000 |
60,000,000 |
|
|
|
|
|
|
Capital Paid |
60,000,000 |
60,000,000 |
60,000,000 |
|
Surplus on Assets
Appraisal |
- |
- |
3,403,449 |
|
Retained Earning Appropriated - Statutory
Reserve |
6,000,000 |
6,000,000 |
3,092,340 |
|
Unappropriated |
222,456,275 |
166,923,424 |
93,470,872 |
|
Total Shareholders' Equity |
288,456,275 |
232,923,424 |
159,966,661 |
|
Total Liabilities &
Shareholders' Equity |
326,975,790 |
309,029,627 |
313,640,142 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
Dec. 31, 2012 |
Nov. 1,
2011 - Dec.
31, 2011 |
Oct. 31, 2010 |
|
|
|
|
|
|
Sales Income |
361,027,291 |
55,515,654 |
271,506,242 |
|
Reversal for Provision
on Diminution of
Fixed Assets |
6,703,920 |
- |
- |
|
Others Income |
1,483,843 |
581,929 |
496,023 |
|
Total Revenues |
369,215,054 |
56,097,583 |
272,002,265 |
|
Expenses |
|
|
|
|
Cost of Goods
Sold |
231,892,140 |
36,984,681 |
197,288,895 |
|
Selling Expenses |
2,268,987 |
712,771 |
1,189,089 |
|
Administrative Expenses |
971,783 |
250,229 |
7,451,875 |
|
Total Expenses |
235,132,910 |
37,947,681 |
205,929,859 |
|
|
|
|
|
|
Profit before Financial Expenses |
134,082,144 |
18,149,902 |
66,072,406 |
|
Financial Expenses |
[549,293] |
[247,483] |
[3,452,926] |
|
Net Profit / [Loss] |
133,532,851 |
17,902,419 |
62,619,480 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.17 |
2.36 |
1.10 |
|
QUICK RATIO |
TIMES |
3.00 |
0.96 |
0.53 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.78 |
0.43 |
1.88 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.10 |
0.18 |
0.87 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
130.17 |
949.23 |
152.14 |
|
INVENTORY TURNOVER |
TIMES |
2.80 |
0.38 |
2.40 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
RECEIVABLES TURNOVER |
TIMES |
- |
- |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
33.58 |
139.29 |
52.29 |
|
CASH CONVERSION CYCLE |
DAYS |
96.59 |
809.94 |
99.86 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
64.23 |
66.62 |
72.66 |
|
SELLING & ADMINISTRATION |
% |
0.90 |
1.73 |
3.18 |
|
INTEREST |
% |
0.15 |
0.45 |
1.27 |
|
GROSS PROFIT MARGIN |
% |
38.04 |
34.43 |
27.52 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
37.14 |
32.69 |
24.34 |
|
NET PROFIT MARGIN |
% |
36.99 |
32.25 |
23.06 |
|
RETURN ON EQUITY |
% |
46.29 |
7.69 |
39.15 |
|
RETURN ON ASSET |
% |
40.84 |
5.79 |
19.97 |
|
EARNING PER SHARE |
BAHT |
222.55 |
29.84 |
104.37 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.12 |
0.25 |
0.49 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.13 |
0.33 |
0.96 |
|
TIME INTEREST EARNED |
TIMES |
244.10 |
73.34 |
19.14 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
550.32 |
(79.55) |
|
|
OPERATING PROFIT |
% |
638.75 |
(72.53) |
|
|
NET PROFIT |
% |
645.89 |
(71.41) |
|
|
FIXED ASSETS |
% |
(0.33) |
(9.82) |
|
|
TOTAL ASSETS |
% |
5.81 |
(1.47) |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is
550.32%. Turnover has increased from THB 55,515,654.00 in 2011 to THB 361,027,291.00
in 2012. While net profit has increased from THB 17,902,419.00 in 2011 to THB
133,532,851.00 in 2012. And total assets has increased from THB 309,029,627.00
in 2011 to THB 326,975,790.00 in 2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
38.04 |
Impressive |
Industrial Average |
33.95 |
|
Net Profit Margin |
36.99 |
Impressive |
Industrial Average |
6.01 |
|
Return on Assets |
40.84 |
Impressive |
Industrial Average |
7.29 |
|
Return on Equity |
46.29 |
Impressive |
Industrial Average |
18.47 |
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 38.04%. 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 36.99%, 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. Return on Assets ratio is
40.84%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
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. Return on Equity ratio
is 46.29%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
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 |
5.17 |
Impressive |
Industrial Average |
1.19 |
|
Quick Ratio |
3.00 |
|
|
|
|
Cash Conversion Cycle |
96.59 |
|
|
|
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 5.17 times in 2012, increased from 2.36 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 3 times in 2012,
increased from 0.96 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 97 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.12 |
Impressive |
Industrial Average |
0.55 |
|
Debt to Equity Ratio |
0.13 |
Impressive |
Industrial Average |
1.08 |
|
Times Interest Earned |
244.10 |
Impressive |
Industrial Average |
0.32 |
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 244.1 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 0.12 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 Downtrend
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.78 |
Impressive |
Industrial Average |
0.20 |
|
Total Assets Turnover |
1.10 |
Satisfactory |
Industrial Average |
1.11 |
|
Inventory Conversion Period |
130.17 |
|
|
|
|
Inventory Turnover |
2.80 |
Acceptable |
Industrial Average |
5.32 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
1.94 |
|
Payables Conversion Period |
33.58 |
|
|
|
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 949 days at the
end of 2011 to 130 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 0.38 times in year 2011 to 2.8 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.1 times and 0.18
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 Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.67 |
|
Euro |
1 |
Rs.85.18 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.