MIRA INFORM REPORT

 

 

Report Date :

21.02.2014

 

IDENTIFICATION DETAILS

 

Name :

GOODS FREEZING CO., LTD.

 

 

Registered Office :

85/468 Soi Thientalay 20, Bangkhunthien-Chaitalay Road, Samaedam, Bangkhunthien, Bangkok 10150

 

 

Country :

Thailand

 

 

Date of Incorporation :

2011

 

 

Com. Reg. No.:

0105554058301

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Subject objective  is  declared  to  the  Commercial  Registration  Department as  an  importer  and  distributor  of  seafood,  meat  and  food  products  to  domestic  market.   However, the  subject  currently  has  not yet  started  its  business  activity. 

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Yet to commence it’s commercial operation

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 – 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

 

GOODS FREEZING CO., LTD.

 

 

SUMMARY

 

BUSINESS  ADDRESS                         :           -

TELEPHONE                                         :           -  

FAX                                                      :           -  

E-MAIL  ADDRESS                               :          

REGISTRATION  ADDRESS                  :           85/468  SOI  THIENTALAY  20, 

BANGKHUNTHIEN-CHAITALAY  ROAD,  SAMAEDAM, BANGKHUNTHIEN,  BANGKOK  10150,  THAILAND

 

ESTABLISHED                                     :           2011

REGISTRATION  NO.                            :           0105554058301

CAPITAL REGISTERED                         :           BHT.   1,000,000

CAPITAL PAID-UP                                 :           BHT.   1,000,000

SHAREHOLDER’S  PROPORTION         :           THAI     :    100%

FISCAL YEAR CLOSING DATE              :           -            

LEGAL  STATUS                                   :           PRIVATE  LIMITED  COMPANY

EXECUTIVE                                          :           -          

 

NO.  OF  STAFF                                    :           -

LINES  OF  BUSINESS                          :           -

                                                                         

                                                                         

 

CORPORATE  PROFILE

 

OPERATING  TREND                            :           EARLY  STAGE                       

PRESENT  SITUATION                          :           -                      

REPUTATION                                        :           -

MANAGEMENT  STANDARD                 :           -                      

 

 

HISTORY

 

The   subject   was   established  on   May  2,   2011   as   a  private   limited  company under  the  registered  name   GOODS  FREEZING CO., LTD.  by   Mrs. Kanchana Seesaeng  and other  Thai partners.  Its  business  objective  is  declared  to  the  Commercial  Registration  Department as  an  importer  and  distributor  of  seafood,  meat  and  food  products  to  domestic  market.   However,  the  subject  currently  has  not yet  started  its  business  activity.  The  subject  is  also  a  related  company  with  “Multi  Seafood  Co.,  Ltd.”,  which  was  established  on  the  same  date.  

 

The  subject’s  registered  address  is  85/468  Soi  Thientalay  20,  Bangkhunthien-Chaitalay  Rd.,  Samaedam,  Bangkhunthien,  Bangkok  10150. 

 

 

THE  BOARD  OF  DIRECTOR

 

     Name

 

Nationality

Age

 

 

 

 

Mrs. Kanchana  Seesaeng

 

Thai

40

 

 

AUTHORIZED  PERSON

 

The  above  director  signs  on  behalf  of  the  subject  with  company’s  affixed.

 

Note:

 

We  could  not  contact  the  subject  at  the  registration  address  because  the  Telephone  Company  reported  no  contact  telephone  number  under  the  address  and  subject’s  name  on  their  list.

 

Refer  to  your  given  the  subject’s  address, 140  Moo  1,  Tumbol  Nong  Yang  Sua,  Amphur  Muaklek, Saraburi province,  please be informed that it  is  the  registration  address  of  “Klongsai  Dairy  Co.,  Ltd.”  and  “Thai  Inter  Canning  Co.,  Ltd.”,  Tel.:  [66]  36  346-201.  Both  companies  did  not   know  or  have  any  relation  with  “Goods  Freezing  Co.,  Ltd.”.

 

However, we  had  contacted  Mr. Chumpol  who  is the  subject’s  consultant,  he  also informed  that  the  subject  was  registered  for  importing  and  distributing of  seafood  but  has  not  yet  stated  business  activity  ever  since  its  establishment.

 

 

COMMENT

 

The  subject  is  a  newly  established  company  with  no  financial  information  available  at  a  time  being.  Moreover,  it  has  not  started  the commercial  business  activities  yet.  Due  to  this,  any  business  engagement  should  be  ceased.

 

FINANCIAL  INFORMATION

 

The  capital  was  registered  at  Bht. 1,000,000 divided  into 10,000 shares of  Bht. 100 each  with  fully  paid.

 

 

THE  SHAREHOLDERS  LISTED  WERE 

 

[as  at  May  2,  2011]

 

       NAME

HOLDING

%

 

 

 

Mrs. Kanchana  Seesaeng

Nationality:  Thai

Address     :  100/150  Soi  Kaeha  Klongtoey  4, 

                     Klongtoey,  Bangkok

9,900

99.00

Mr. Uthis  Boonsom

Nationality:  Thai

Address     :  445/5  Nonsee  Rd.,  Chongnonsi, 

                     Yannawa,  Bangkok

     99

0.99

Ms. Paksiri  Suesirithamrong

Nationality:  Thai

Address     :  10/10  Petcharoen  Rd.,  T. Naimaung, 

                     A. Muang,  Petchabun

       1

0.01

 

Total  Shareholders  :  3

 

Share  Structure  [as  at May  2,  2011]

 

Nationality

Shareholders

No. of  Share

% Shares

 

 

 

 

Thai

3

10,000

100.00

Foreign

-

-

-

 

Total

 

3

 

10,000

 

100.00

 

Note:

 

The  2011  financial  statement  was not  submitted  to  the  Commercial  Registration  Department  during  investigation.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.28

UK Pound

1

Rs.103.84

Euro

1

Rs.85.70

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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