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Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
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Name : |
INSTRUMECH
COMPANY LIMITED |
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Registered Office : |
49/1 Moo 2, Lalin Green Ville Village, Pravet Sub-District, Pravet District, Bangkok 10250 |
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Country : |
Thailand |
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Date of Incorporation : |
23.05.2013 |
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Com. Reg. No.: |
0105556083044 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
engaged in
importing, distributing and
supplying complete range
of pipe maintenance
and service equipment, such
as ultrasonic flare
meter, turbine meter,
rotary meter, pipeline
inspection equipment, pipeline
rehabilitation products & cathodic
protection insulator, for
oil and industrial
piping application |
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No. of Employees |
09 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 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
INSTRUMECH COMPANY LIMITED
BUSINESS
ADDRESS : 49/1
MOO 2, LALIN
GREEN VILLE VILLAGE,
PRAVET SUB-DISTRICT,
PRAVET DISTRICT,
BANGKOK 10250,
THAILAND
TELEPHONE : [66] 2328-8820
FAX :
[66] 2328-7690
E-MAIL
ADDRESS : gm@instrumech.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2013
REGISTRATION
NO. : 0105556083044
TAX
ID NO. : 3035845264
CAPITAL REGISTERED : BHT. 10,000,000
CAPITAL PAID-UP : BHT. 2,500,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : -
LEGAL
STATUS
: PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS.
SUPANANT CHARIYASOTHORN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 9
LINES
OF BUSINESS : PIPE
MAINTENANCE AND SERVICE
EQUIPMENT
IMPORTER AND
DISTRIBUTOR
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : -
MANAGEMENT
STANDARD : -
The
subject was established
on May 23,
2013 as a
private limited company
under the registered
name INSTRUMECH COMPANY
LIMITED, by Thai
groups, with the
business objective to
supply and service
of pipe maintenance
and equipment for
oil and industrial
piping application. It
currently employs 9
staff.
The
subject’s registered address
was 111/155 Moo
4, Donmuang, Bangkok
10210.
On
December 17, 2013,
the subject’s registered address was
relocated to 49/1
Moo 2, Lalin
Gereen Ville Village,
Pravet Sub-District, Pravet
District, Bangkok 10250,
and this is
the subject’s current
operation address.
|
Name |
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Nationality |
Age |
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Mrs. Supanant Chariyasothorn |
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Thai |
38 |
The above director
signs on behalf
of the subject
with company’s affixed.
Mrs. Supanant Chariyasothorn is
the Managing Director.
She is Thai
nationality with the
age of 38
years old.
The subject
is engaged in
importing, distributing and
supplying complete range
of pipe maintenance
and service equipment,
such as ultrasonic
flare meter, turbine
meter, rotary meter,
pipeline inspection equipment,
pipeline rehabilitation products & cathodic
protection insulator, for
oil and industrial
piping application
MAJOR BRANDS
“BURGESS-MANNING”, “ITRON” and
etc.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly in
U.S.A., Republic of
China, Japan and
Taiwan.
MAJOR
SUPPLIERS
Peerless
Mfg. Co., Ltd. : U.S.A.
Itron
Inc. : U.S.A.
SALES
100% of the
products is sold
and serviced locally
by wholesale to
contractors and end-users.
RELATED AND AFFILIATED
COMPANY
Biz Shine Solution
Co., Ltd.
Business Type :
Importer and distributor of
engineering instruments
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
for the past
two years.
CREDIT
Sales / services 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
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
9 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in residential
area.
COMMENT
The
subject was established
in May 2013.
Its business is
in early stage
of operation. Subject disclosed
slow business in its first
year. However, there
was no financial
information available at
a time being.
Any credit should
be on secured basis only.
The
capital was registered
at Bht. 10,000,000
divided into 100,000
shares of Bht.
100 each, with
the current capital
paid-up at Bht.
2,500,000 or 100,000
@ Bht. 25 each.
THE
SHAREHOLDERS LISTED WERE
: [as at
May 17, 2013]
|
NAME |
HOLDING |
% |
|
|
|
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Mrs. Supanant Chariyasothorn Nationality: Thai Address : 2/46
Sukhapibal 2 Road,
Pravet Sub-district, Pravet District,
Bangkok |
99,000 |
99.00 |
|
Ms. Mayuree Piriyaanont Nationality: Thai Address : 42
Praengphuthorn Road, Sanchaoporsua, Pranakorn,
Bangkok |
500 |
0.50 |
|
Mrs. Suda Mahasaksawad Nationality: Thai Address : 125/251
Moo 7, T. Bangchalong, A.
Bangplee, Samutprakarn |
500 |
0.50 |
Total Shareholders : 3
Share Structure [as
at May 17,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
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Thai |
3 |
100,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
100,000 |
100.00 |
Note:
Due to the
subject was established
in 2013, therefore
financial statement was not
yet available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
UK Pound |
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
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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.