MIRA INFORM REPORT

 

 

Report Date :

20.02.2014

 

IDENTIFICATION DETAILS

 

Name :

APS CO., LTD.

 

 

Registered Office :

770  Moo  6,  Teparak  Road,  T. Teparak, A. Muang,  Samutprakarn 10270

 

 

Country :

Thailand

 

 

Date of Incorporation :

21.05.2013

 

 

Com. Reg. No.:

0115556010691

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer and Distributor of Rubber  Seals

 

 

No of Employees :

20

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

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

 

APS  CO.,  LTD.

 

 

SUMMARY

 

BUSINESS  ADDRESS                         :           770  MOO  6,  TEPARAK  ROAD,  T. TEPARAK,

                                                                        A. MUANG,  SAMUTPRAKARN  10270,  THAILAND

TELEPHONE                                         :           [66]  2383-6599,  2383-6533,  081  304-4321

FAX                                                      :           [66]  2383-6599

E-MAIL  ADDRESS                               :           somchaisr@aps.company.co.th

REGISTRATION  ADDRESS                  :           SAME  AS  BUSINESS  ADDRESS

 

ESTABLISHED                                     :           2013

REGISTRATION  NO.                            :           0115556010691

TAX  ID  NO.                                         :           3035839782

CAPITAL REGISTERED                         :           BHT.   10,000,000

CAPITAL PAID-UP                                 :           BHT.     3,000,000

SHAREHOLDER’S  PROPORTION         :           THAI     :    100%

FISCAL YEAR CLOSING DATE              :           -            

LEGAL  STATUS                                   :           PRIVATE  LIMITED  COMPANY

EXECUTIVE                                          :           MR. CHAMNAN  VITOONPAKORN,  THAI

                                                                        MANAGING  DIRECTOR           

 

NO.  OF  STAFF                                    :           20

LINES  OF  BUSINESS                          :           RUBBER  SEALS

                                                                        MANUFACTURER  AND  DISTRIBUTOR

 

 

CORPORATE  PROFILE

 

OPERATING  TREND                            :           EARLY  STAGE                       

PRESENT  SITUATION                          :           OPERATING  NORMALLY                     

REPUTATION                                        :           -

MANAGEMENT  STANDARD                 :           -                      

 

 

HISTORY

 

The  subject  was  established  on  May  21,  2013  as  a  private  limited  company  under  the  registered name APS  CO.,  LTD., by  Thai  group,  with  the  business  objective  to   manufacture  and  distribute  rubber  seals  for  industrial  purpose.  It  currently  employs    approximately  20  staff.  

 

The  subject  is  a  wholly  owned  subsidiary  of  Aeroflex  Co.,  Ltd.,  Thailand.

 

The  subject’s  registered  address  is 770  Moo  6,  Teparak  Road,  T. Teparak,  A. Muang,  Samutprakarn  10270,  and  this  is  the  subject’s  current  operation  address.  

 

 

THE  BOARD  OF  DIRECTOR

 

     Name

 

Nationality

Age

 

 

 

 

Mr. Chamnan  Vitoonpakorn

 

Thai

53

Mr. Thanawat  Vitoonpakorn

 

Thai

41

 

 

AUTHORIZED  PERSON

 

Both  of  the  above  directors  can  jointly  sign  on  behalf  of  the  subject  with  company’s  affixed.

 

 

MANAGEMENT

 

Mr. Chamnan  Vitoonpakorn   is  the  Managing  Director.

He  is  Thai  nationality  with  the  age  of  53  years  old.  

 

 

BUSINESS  OPERATIONS

 

The  subject  is  engaged  in  manufacturing  and  distributing  of  rubber  seals  for  automotive and  construction  industries.   The  production  has  been  started  in  January  2014.

 

 

PURCHASE

 

Most  of  raw   materials  and  machinery  are  imported  from  India  and  Germany,  the  rest  is  purchased  from  local  suppliers.

 

 

SALES 

 

100%  of  the  products  is  sold  locally  to  wholesalers,  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  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  T/T.

 

 

BANKING

 

Bangkok  Bank  Public  Co.,  Ltd.

 

 

EMPLOYMENT

 

The  subject  currently  employs  20  staff.  

 

 

LOCATION  DETAILS

 

The  premise  is  rented for  administrative  office  and  factory at  the  heading  address.  Premise  is  located  in  provincial,  on  the  outskirts  of  Bangkok.

 

 

COMMENT

 

The  subject  was  established  in  May  2013  to  manufacture  rubber  seals  for  industrial  purposes.   There  is  potential  trend  of  the  product  which  will  be  served  to  automotive  and  construction  industries.

 

 

FINANCIAL  INFORMATION

 

The  capital  was  registered  at  Bht. 10,000,000  divided  into  100,000  shares  of  Bht.  100     each  with  30%  paid-up.

 

THE  SHAREHOLDERS  LISTED  WERE  : [as  at  April  26,  2013]  at  Bht. 3,000,000  of  capitalization]

 

       NAME

HOLDING

%

 

 

 

Aeroflex  Co.,  Ltd

Nationality:  Thai

Address     :  770  Moo  6,  Teparak  Road,  T. Teparak,

                     A.  Muang,  Samutprakarn

99,997

99.99

Mr. Chamnan  Vitoonpakorn

Nationality:  Thai

Address     :  1179/24-25  Rimtangrodfai-Saipaknam  Road,

                     Klongton,  Klongtoey,  Bangkok  

        1

 

Mr. Thanawat  Vitoonpakorn

Nationality:  Thai

Address     :  1179/24-25  Rimtangrodfai-Saipaknam  Road,

                     Klongton,  Klongtoey,  Bangkok  

        1

=0.01

Ms. Rungravee  Vitoonpakorn

Nationality:  Thai

Address     :  1179/24-25  Rimtangrodfai-Saipaknam  Road,

                     Klongton,  Klongtoey,  Bangkok  

        1

 

 

Total  Shareholders  :    4

 

Share  Structure  [as  at  April  26,  2013]

 

Nationality

Shareholders

No. of  Share

% Shares

 

 

 

 

Thai

4

100,000

100.00

Foreign

-

-

-

 

Total

 

4

 

100,000

 

100.00

 

Note

 

The  2013  financial  statement  was  not  submitted  during  investigation.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 62.12

UK Pound

1

Rs. 103.93

Euro

1

Rs. 85.16

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.