MIRA
INFORM REPORT
|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
V & S CHEMI GROUP CO., LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1994 |
|
|
|
|
Com. Reg. No.: |
0105537061189 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer & Distributor of Pharmaceutical chemicals |
|
|
|
|
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 |
|
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 – 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
manufacuring 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
V & S CHEMI
GROUP CO., LTD.
SUMMARY
BUSINESS ADDRESS : 1558/19
BANGNA-TRAD ROAD, BANGNA,
BANGKOK 10260,
THAILAND
TELEPHONE : 1
FAX : [66] 2182-0325-6
E-MAIL ADDRESS : vnschemi@loxinfo.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1994
REGISTRATION NO. : 0105537061189 [Former
: [2] 2273/2537]
TAX ID NO. : 3011429228
CAPITAL REGISTERED : BHT.
5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. PORNNARONG CHAKRARATPAHU, THAI
MANAGING DIRECTOR
NO. OF STAFF : 25
LINES OF BUSINESS : PHARMACEUTICAL CHEMICALS
IMPORTER &
DISTRIBUTOR
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 May
26, 1994 as a
private limited company
under the registered
name V & S CHEMI
GROUP CO., LTD., by
Thai groups, in
order to import and
distribute pharmaceutical
chemicals to domestic
market. It currently employs
25 staff.
The subject’s registered
address was initially
located at 22/66
Moo 10, Bangna-Trad Rd.,
Bangna, Bangkok 10260.
On August 30,
2004, it was
changed to 53/74
Moo 5, Chalermprakiat Rama 9 Rd.,
Nongbon, Pravet, Bangkok
10250.
In 2008, the
subject’s registered address
was relocated to
1558/19 Bangna-Trad Rd.,
Bangna, Bangkok 10260,
and this is
the subject’s current
operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pornnarong Chakraratpahu |
|
Thai |
55 |
|
Ms. Orawan Chakraratpahu |
|
Thai |
56 |
|
Mr. Saengpetch Chakraratpahu |
|
Thai |
64 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of the subject
with company’s affixed.
MANAGEMENT
Mr. Pornnarong Chakraratpahu
is the Managing
Director.
He is Thai
nationality with the
age of 55
years old.
BUSINESS OPERATIONS
The subject’s activity
is an importer
and distributor various
kinds of pharmaceutical chemicals.
IMPORT [COUNTRIES]
60% of its
product is imported from
Germany, Italy, Malaysia,
Singapore, Australia Taiwan, Republic
of China, India,
Switzerland and Spain.
MAJOR SUPPLIERS
Boehringer Mannheim GmbH : Germany
BASF [Thai] Ltd. : Thailand
Sanguanchai Chemical Import
Co., Ltd. : Thailand
SALES [LOCAL]
100% of its
products is sold
locally to manufacturers, wholesalers
and end-users.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits of 30-60
days.
Imports are by
L/C at sight
or on the
credit term of
120 days or T/T.
BANKING
TMB Bank Public
Co., Ltd.
[Phrapradaeng Branch :
Poochaosamingprai Rd., Phrapradaeng,
Samutprakarn]
Krung Thai Bank
Public Co., Ltd.
[Head Office : 35 Sukhumvit
Rd., Klongtoey Nua,
Wattana, Bangkok]
Thanachart Bank Public
Co., Ltd.
[New Petchburi
Branch : 1101 New Petchburi
Rd., Makkasan, Rajthevee,
Bangkok]
EMPLOYMENT
The subject currently
employs 25 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is
rented for administrative office
in a 3
storey building of
1 row shop house
at the heading
address. Premise is
located in commercial/residential area.
COMMENT
Chemicals for pharmaceutical industry were the key element for production
processes. The country’s pharmaceutical industry is poised for growth
benefiting players such as manufacturers, exporter and
chemical suppliers.
Due to economic certainty had
resulted to decrease
demand of chemicals for
pharmaceutical industry in the
past years, while
current industrial remains
slow.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 1,000,000 divided into 10,000
shares of Bht.
100 each.
On August 30, 2004,
the capital was
increased to Bht.
5,000,000 divided into
50,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
Mr. Pornnarong Chakraratpahu Nationality: Thai Address : 100/40 Chalermprakiat R.
9 Rd.,
Nongbon, Praves, Bangkok |
25,000 |
50.00 |
|
Mrs. Molruedee Chakraratpahu Nationality: Thai Address : 100/40 Chalermprakiat R.
9 Rd., Nongbon,
Praves, Bangkok |
24,000 |
48.00 |
|
Ms. Orawan Chakraratpahu Nationality: Thai Address : 100/40 Chalermprakiat R.
9 Rd.,
Nongbon, Praves, Bangkok |
1,000 |
2.00 |
Total Shareholders : 3
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
50,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Sasipong Pinkaew No.
3455
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
41,195.97 |
41,395.97 |
312,141.79 |
|
Trade Accounts & Other Receivable |
48,373,351.57 |
46,253,731.44 |
46,977,630.61 |
|
Inventories |
18,245,042.24 |
7,445,234.36 |
15,734,044.70 |
|
Other Current Assets
|
1,274.86 |
33,742.09 |
1,219.64 |
|
|
|
|
|
|
Total Current Assets
|
66,660,864.64 |
53,774,103.86 |
63,025,036.74 |
|
|
|
|
|
|
Cash at Bank pledged as a Collateral |
8,700,000.00 |
2,999,754.44 |
2,912,995.07 |
|
Fixed Assets |
19,760,150.96 |
25,217,878.52 |
25,530,625.00 |
|
Intangible Assets |
37,264.84 |
57,285.03 |
73,693.72 |
|
Other Non-current Assets |
746,300.00 |
750,638.32 |
745,138.32 |
|
Total Assets |
95,904,580.44 |
82,799,660.17 |
92,287,488.85 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
50,020,305.81 |
48,123,624.29 |
48,237,035.90 |
|
Trade Accounts & Other Payable
|
30,950,626.43 |
18,157,114.30 |
27,491,690.97 |
|
Current Portion of
Long-term Loans |
- |
2,876,385.56 |
2,964,000.00 |
|
Current Portion of
Financial Lease Contract Payable |
363,085.33 |
- |
- |
|
Accrued Income Tax |
407,496.21 |
825,201.86 |
595,905.80 |
|
Other Current Liabilities |
189,403.97 |
170,626.15 |
182,974.41 |
|
|
|
|
|
|
Total Current Liabilities |
81,930,917.75 |
70,152,952.16 |
79,471,607.08 |
|
Long-term Loan, Net |
- |
- |
2,573,056.57 |
|
Financial Lease Contract
Payable, Net |
300,524.46 |
- |
- |
|
Deposits |
- |
160,000.00 |
160,000.00 |
|
Total Liabilities |
82,231,442.21 |
70,312,952.16 |
82,204,663.65 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earnings: Appropriated for Statutory Reserve |
500,000.00 |
500,000.00 |
500,000.00 |
|
Unappropriated |
8,173,138.23 |
6,986,708.01 |
4,582,825.20 |
|
Total Shareholders' Equity |
13,673,138.23 |
12,486,708.01 |
10,082,825.20 |
|
Total Liabilities & Shareholders' Equity |
95,904,580.44 |
82,799,660.17 |
92,287,488.85 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
133,746,614.54 |
144,580,059.27 |
163,651,893.00 |
|
Rental Income |
40,000.00 |
440,000.00 |
480,000.00 |
|
Other Income |
|
|
|
|
Gain on Disposal
of Assets |
536,478.95 |
2,931.00 |
- |
|
Gain on Exchange Rate |
1,230,271.21 |
224,688.90 |
1,877,137.96 |
|
Interest Income |
104,545.13 |
63,793.81 |
59,551.96 |
|
Other |
47,761.36 |
24,015.90 |
3,951.03 |
|
Total Revenues |
135,705,671.19 |
145,335,488.88 |
166,072,533.95 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
109,983,198.39 |
118,790,738.37 |
136,629,621.39 |
|
Selling Expenses |
1,551,018.73 |
1,463,557.31 |
1,632,095.43 |
|
Administrative Expenses |
18,029,264.75 |
18,868,498.46 |
20,071,543.99 |
|
Total Expenses |
129,563,481.87 |
139,122,794.14 |
158,333,260.81 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
6,142,189.32 |
6,212,694.74 |
7,739,273.14 |
|
Financial Cost |
[1,989,111.03] |
[2,429,554.07] |
[2,684,544.64] |
|
Profit before Income Tax |
4,153,078.29 |
3,783,140.67 |
5,054,728.50 |
|
Income Tax |
[966,648.07] |
[1,379,257.86] |
[1,303,336.43] |
|
|
|
|
|
|
Net Profit / [Loss] |
3,186,430.22 |
2,403,882.81 |
3,751,392.07 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.81 |
0.77 |
0.79 |
|
QUICK RATIO |
TIMES |
0.59 |
0.66 |
0.60 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.77 |
5.75 |
6.43 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.39 |
1.75 |
1.78 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
60.55 |
22.88 |
42.03 |
|
INVENTORY TURNOVER |
TIMES |
6.03 |
15.96 |
8.68 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
131.97 |
116.42 |
104.47 |
|
RECEIVABLES TURNOVER |
TIMES |
2.77 |
3.14 |
3.49 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
102.72 |
55.79 |
73.44 |
|
CASH CONVERSION CYCLE |
DAYS |
89.81 |
83.50 |
73.06 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
82.21 |
81.91 |
83.24 |
|
SELLING & ADMINISTRATION |
% |
14.64 |
14.02 |
13.22 |
|
INTEREST |
% |
1.49 |
1.68 |
1.64 |
|
GROSS PROFIT MARGIN |
% |
19.23 |
18.30 |
17.94 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.59 |
4.28 |
4.72 |
|
NET PROFIT MARGIN |
% |
2.38 |
1.66 |
2.29 |
|
RETURN ON EQUITY |
% |
23.30 |
19.25 |
37.21 |
|
RETURN ON ASSET |
% |
3.32 |
2.90 |
4.06 |
|
EARNING PER SHARE |
BAHT |
63.73 |
48.08 |
75.03 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.86 |
0.85 |
0.89 |
|
DEBT TO EQUITY RATIO |
TIMES |
6.01 |
5.63 |
8.15 |
|
TIME INTEREST EARNED |
TIMES |
3.09 |
2.56 |
2.88 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(7.75) |
(11.64) |
|
|
OPERATING PROFIT |
% |
(1.13) |
(19.73) |
|
|
NET PROFIT |
% |
32.55 |
(35.92) |
|
|
FIXED ASSETS |
% |
(21.64) |
(1.22) |
|
|
TOTAL ASSETS |
% |
15.83 |
(10.28) |
|
ANNUAL GROWTH : ACCEPTABLE
An annual sales growth is -7.75%. Turnover has decreased from THB
145,020,059.27 in 2011 to THB 133,786,614.54 in 2012. While net profit has increased
from THB 2,403,882.81 in 2011 to THB 3,186,430.22 in 2012. And total assets has
increased from THB 82,799,660.17 in 2011 to THB 95,904,580.44 in 2012.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
19.23 |
Acceptable |
Industrial Average |
34.05 |
|
Net Profit Margin |
2.38 |
Impressive |
Industrial Average |
2.12 |
|
Return on Assets |
3.32 |
Satisfactory |
Industrial Average |
4.25 |
|
Return on Equity |
23.30 |
Impressive |
Industrial Average |
9.42 |
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 19.23%. 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 2.38%, 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 3.32%.
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 is
23.3%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.81 |
Risky |
Industrial Average |
1.40 |
|
Quick Ratio |
0.59 |
|
|
|
|
Cash Conversion Cycle |
89.81 |
|
|
|
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 0.81 times in 2012, increased from 0.77 times, then the company may
have problems meeting its short-term obligations. 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 0.59 times in 2012,
decreased from 0.66 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 90 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.86 |
Acceptable |
Industrial Average |
0.61 |
|
Debt to Equity Ratio |
6.01 |
Risky |
Industrial Average |
1.56 |
|
Times Interest Earned |
3.09 |
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 3.09 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 0.86 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
6.77 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.39 |
Acceptable |
Industrial Average |
2.01 |
|
Inventory Conversion Period |
60.55 |
|
|
|
|
Inventory Turnover |
6.03 |
Acceptable |
Industrial Average |
8.42 |
|
Receivables Conversion Period |
131.97 |
|
|
|
|
Receivables Turnover |
2.77 |
Acceptable |
Industrial Average |
4.61 |
|
Payables Conversion Period |
102.72 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.77 and 3.14 in
2012 and 2011 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 2012
decreased from 2011. 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 23 days at the
end of 2011 to 61 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 15.96 times in year 2011 to 6.03
times in year 2012.
The company's Total Asset Turnover is calculated as 1.39 times and 1.75
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.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
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.