MIRA
INFORM REPORT
|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
PHOENIX
COMMODITIES LTD. |
|
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
09.05.2001 |
|
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Com. Reg. No.: |
0105544042721 [Former: 652/2544] |
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Legal Form : |
Private Limited Company |
|
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Line of Business : |
engaged in
importing, distributing and
exporting wide range
of commercial products, which
can be divided
into two main
products: foods and
minerals. The products are
as follows:
|
|
|
|
|
No. of Employees |
31 |
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 |
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Payment Behaviour : |
Slow but Correct |
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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 |
|
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 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
PHOENIX COMMODITIES LTD.
SUMMARY
BUSINESS
ADDRESS : UNIT
BC, 18th FLOOR, SETHIWAN
TOWER,
139
PAN
ROAD, SILOM, BANGRAK,
BANGKOK
10500, THAILAND
TELEPHONE : [66] 2266-7240-6
FAX :
[66] 2266-7249
E-MAIL
ADDRESS : rice@pclworld.net
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2001
REGISTRATION
NO. : 0105544042721 [Former: 652/2544]
TAX
ID NO. : 3030273918
CAPITAL REGISTERED : BHT. 50,000,000
CAPITAL PAID-UP : BHT.
50,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.02%
FOREIGN
: 48.98%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. GAURAV DHAWAN,
INDIAN
CHIEF EXECUTIVE
OFFICER
NO.
OF STAFF : 31
LINES
OF BUSINESS : TRADING COMPANY
IMPORTER, DISTRIBUTOR
& EXPORTER
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 9,
2001 as a private limited
company under the name
style PHOENIX COMMODITIES
LTD., by Thai
and foreign groups, in order
to provide and
service wide range of
commercial products to
both domestic and
international markets. It
currently employs 31
staff.
It
is a joint
venture between Helios
Holdings Ltd., Thailand
and Phoenix Commodities
Pte. Ltd., Singapore,
which are holding
around 51.00% and
48.98% of the
subject’s total shares
respectively. It is also a
member of Phoenix Commodities
Pvt. Ltd., in British
Virgin Island.
The subject’s registered address is Unit BC, 18th Flr., Sethiwan Tower,
139 Pan Rd., Silom, Bangrak,
Bangkok 10500, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Vanida Chansirikul |
|
Thai |
51 |
|
Mr. Gaurav Dhawan |
|
Indian |
40 |
|
Mr. Raja Banerjee |
|
Indian |
41 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Gaurav Dhawan is
the Chief Executive
Officer.
He is Indian
nationality with the
age of 40 years
old.
Mr. Raja Banerjee is the Executive
Director.
He is Indian
nationality with the
age of 41 years
old.
BUSINESS OPERATIONS
The subject is
engaged in importing, distributing
and exporting wide
range of commercial products,
which can be
divided into two main
products: foods and
minerals. The products are
as follows:
- Food products: rice/premium rice,
sugar, grain, soybean,
maize, onion, chili,
pepper, wheat, corn, spicy
products [mustard seed, black
pepper, cloves, coriander seed,
turmeric and sesame
seed], and distillers dried
soluble products
- Mining products: coal,
manganese & iron .
PURCHASE
The products are
purchased from suppliers
both local and
overseas in India,
Indonesia, Malaysia, Vietnam,
Japan, Germany, Australia,
Republic of China,
Taiwan and Philippines.
MAJOR
SUPPLIERS
Vinafood
Corp. : Vietnam
P
and S Barite
Mining Co., Ltd. : Thailand
Pands
Group : Thailand
P T
Agro Restu :
Indonesia
SALES
The products are
sold and serviced
to both domestic
and overseas customers
with more than
30 countries, such
as Singapore, Vietnam.
Laos, India, Bangladesh,
Republic of China,
Dubai, Malaysia, Philippines,
Myanmar, Indonesia, Kenya,
Ukraine, Saudi Arabia,
South Africa, Europe and Middle
East countries.
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
for the past
two years.
CREDIT
Sales and 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
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject currently employs
31 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Branch/Warehouse
:
-
140/5
Moo 6, T. Nakornluang, A. Nakornluang, Ayutthaya 13260.
COMMENT
The
subject was formed
in 2001 as an
importer and distributor of various
products. The products
are varieties for
industrial, commercial and consumer sectors. Sales were improved
significantly in the year
2012 and continued expanding
steadily in 2013 due to demand
remained strong both
domestic consumption and
export markets.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 30,000,000
divided into 30,000
shares of Bht.
1,000 each.
On
April 1, 2013,
the capital was
increased at Bht.
50,000,000 divided into
50,000 shares of
Bht. 1,000 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Helios Holdings Ltd. Nationality: Thai Address : 139
Pan Rd., Silom,
Bangrak, Bangkok |
25,500 |
51.00 |
|
Phoenix Commodities Pte.
Ltd. Nationality: Singaporean Address : 17
Philip Street, #05-01
Grand Building, Singapore |
24,489 |
48.98 |
|
Ms. Vanida Chansirikul Nationality: Thai Address : 343/3
Charoenkrung Rd., Siphya,
Bangrak, Bangkok |
2 |
|
|
Ms. Ampika Siridejanont Nationality: Thai Address : 222/127
Pracha-uthis 72 Rd.,
Thungkru,
Rajburana, Bangkok |
2 |
|
|
Mr. Aree Jeerajee Nationality: Thai Address : 158/42
Kalaprapruek Rd., Bangwah,
Pasicharoen, Bangkok |
2 |
|
|
Mr. Chakarin Javlah Nationality: Thai Address : 19/9
Soi Panichayakarnthonburi 28, Wat Thaphra,
Bangkokyai, Bangkok |
2 |
= 0.02 |
|
Mr. Gaurav Dhawan Nationality: Indian Address : 68/109
Sukhumvit 23 Rd.,
Klongtoey,
Wattana, Bangkok |
1 |
|
|
Mr. Exclaya Kirish Chandra Nationality: Indian Address : 80 Sukhumvit 23
Rd., Klongtoey, Wattana, Bangkok |
1 |
|
|
Mr. Raja Banerjee Nationality: Indian Address : 55
Sukhumvit 11 Rd.,
Klongtonnua,
Wattana, Bangkok |
1 |
|
Total Shareholders : 9
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
25,508 |
51.02 |
|
Foreign |
4 |
24,492 |
48.98 |
|
Total |
9 |
50,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC ACCOUNTANT NO. :
Mr. Kosol Yaemseemool No.
4575
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
23,254,154 |
20,777,942 |
8,655,783 |
|
Trade Accounts Receivable |
|
|
|
|
- Related company |
- |
14,154,157 |
23,268,373 |
|
- Other company |
200,280,983 |
75,383,905 |
42,356,907 |
|
Related Company Receivable |
- |
85,673,679 |
- |
|
Inventories |
19,290,254 |
73,540,027 |
75,617,643 |
|
Refundable Value Added Tax |
9,285,644 |
8,539,180 |
9,012,479 |
|
Other Current Assets |
2,304,334 |
1,313,844 |
944,982 |
|
|
|
|
|
|
Total Current Assets |
254,415,369 |
279,382,734 |
159,856,167 |
|
|
|
|
|
|
Cash at Bank under Commitment |
25,100,000 |
25,100,000 |
12,850,000 |
|
Fixed Assets |
29,941,949 |
32,712,338 |
15,744,536 |
|
Other non-current Assets |
1,185,614 |
1,379,194 |
1,358,094 |
|
Total Assets |
310,642,932 |
338,574,266 |
189,808,797 |
LIABILITIES & SHAREHOLDERS’ EQUITY
[BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Short-term Loan from Bank |
173,610,033 |
90,705,636 |
10,850,014 |
|
Trade Accounts Payable |
|
|
|
|
- Related company |
36,427,396 |
157,829,901 |
118,873,770 |
|
- Other company |
24,730,326 |
15,477,433 |
20,355,038 |
|
Director & Related Company Payable |
19,503,340 |
20,585,853 |
- |
|
Current Portion of Financial Lease Contract Liabilities |
- |
57,695 |
248,838 |
|
Accrued Income Tax |
1,226,989 |
1,652,981 |
637,594 |
|
Accrued Expenses |
2,844,009 |
8,024,504 |
2,231,671 |
|
|
|
|
|
|
Total Current Liabilities |
258,342,093 |
294,334,003 |
153,196,925 |
|
|
|
|
|
|
Financial Lease Contract Liabilities,
net |
- |
- |
57,695 |
|
Estimated Obligation for Employee Benefit |
2,730,244 |
2,841,669 |
- |
|
Total Liabilities |
261,072,337 |
297,175,672 |
153,254,620 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized,
issued and fully
paid share
capital 30,000 shares
|
30,000,000 |
30,000,000 |
30,000,000 |
|
|
|
|
|
|
Capital Paid |
30,000,000 |
27,000,000 |
24,000,000 |
|
Retained Earning-Unappropriated |
19,570,595 |
14,398,594 |
12,554,177 |
|
Total Shareholders’ Equity |
49,570,595 |
41,398,594 |
36,554,177 |
|
Total Liabilities &
Shareholders’ Equity |
310,642,932 |
338,574,266 |
189,808,797 |
PROFIT & LOSS ACCOUNT
|
|
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
995,633,299 |
849,010,812 |
309,555,931 |
|
Commission Income |
13,144,579 |
27,833,336 |
25,836,706 |
|
Gain on Exchange Rate |
5,459,993 |
- |
6,042,822 |
|
Other Income |
979,923 |
157,965 |
177,276 |
|
Total Revenues |
1,015,217,794 |
877,002,113 |
341,612,735 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
921,784,640 |
786,639,592 |
291,500,038 |
|
Selling Expenses |
30,334,889 |
33,040,873 |
8,192,425 |
|
Administrative Expenses |
51,903,652 |
46,888,676 |
37,431,198 |
|
Loss on Exchange Rate |
- |
5,161,645 |
- |
|
Total Expenses |
1,004,023,181 |
871,730,786 |
337,123,661 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
11,194,613 |
5,271,327 |
4,489,074 |
|
Financial Cost |
[4,066,249] |
[1,025,606] |
[381,443] |
|
Profit before Income
Tax |
7,128,364 |
4,245,721 |
4,107,631 |
|
Income Tax |
[1,956,363] |
[2,401,304] |
[1,390,765] |
|
|
|
|
|
|
Net Profit / [Loss] |
5,172,001 |
1,844,417 |
2,716,866 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.98 |
0.95 |
1.04 |
|
QUICK RATIO |
TIMES |
0.90 |
0.69 |
0.54 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
33.25 |
25.95 |
19.66 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.21 |
2.51 |
1.63 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
7.64 |
34.12 |
94.68 |
|
INVENTORY TURNOVER |
TIMES |
47.78 |
10.70 |
3.85 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
6.09 |
27.44 |
|
RECEIVABLES TURNOVER |
TIMES |
- |
59.98 |
13.30 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
9.79 |
7.18 |
25.49 |
|
CASH CONVERSION CYCLE |
DAYS |
(2.15) |
33.03 |
96.63 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.58 |
92.65 |
94.17 |
|
SELLING & ADMINISTRATION |
% |
8.26 |
9.41 |
14.74 |
|
INTEREST |
% |
0.41 |
0.12 |
0.12 |
|
GROSS PROFIT MARGIN |
% |
9.38 |
10.64 |
16.19 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.12 |
0.62 |
1.45 |
|
NET PROFIT MARGIN |
% |
0.52 |
0.22 |
0.88 |
|
RETURN ON EQUITY |
% |
10.43 |
4.46 |
7.43 |
|
RETURN ON ASSET |
% |
1.66 |
0.54 |
1.43 |
|
EARNING PER SHARE |
BAHT |
19.16 |
6.83 |
11.32 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.84 |
0.88 |
0.81 |
|
DEBT TO EQUITY RATIO |
TIMES |
5.27 |
7.18 |
4.19 |
|
TIME INTEREST EARNED |
TIMES |
2.75 |
5.14 |
11.77 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
17.27 |
174.27 |
|
|
OPERATING PROFIT |
% |
112.37 |
17.43 |
|
|
NET PROFIT |
% |
180.41 |
(32.11) |
|
|
FIXED ASSETS |
% |
(8.47) |
107.77 |
|
|
TOTAL ASSETS |
% |
(8.25) |
78.38 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 17.27%. Turnover has increased from THB
849,010,812.00 in 2011 to THB 995,633,299.00 in 2012. While net profit has
increased from THB 1,844,417.00 in 2011 to THB 5,172,001.00 in 2012. And total
assets has decreased from THB 338,574,266.00 in 2011 to THB 310,642,932.00 in
2012.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
9.38 |
Deteriorated |
Industrial Average |
19.52 |
|
Net Profit Margin |
0.52 |
Deteriorated |
Industrial Average |
2.29 |
|
Return on Assets |
1.66 |
Deteriorated |
Industrial Average |
7.57 |
|
Return on Equity |
10.43 |
Deteriorated |
Industrial Average |
21.40 |
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 9.38%. 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 0.52%.
When compared with the industry average, the ratio of the company was lower.
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 1.66%.
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. When compared with the
industry average, it was lower, the company's figure is 10.43%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
0.98 |
Risky |
Industrial Average |
1.10 |
|
Quick Ratio |
0.90 |
|
|
|
|
Cash Conversion Cycle |
(2.15) |
|
|
|
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 0.98 times in 2012, increased from 0.95 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 0.9 times in 2012,
increased from 0.69 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 -3 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.84 |
Acceptable |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
5.27 |
Risky |
Industrial Average |
1.74 |
|
Times Interest Earned |
2.75 |
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 2.76 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 0.84 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 Downtrend
Times Interest Earned Downtrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
33.25 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
3.21 |
Satisfactory |
Industrial Average |
3.31 |
|
Inventory Conversion Period |
7.64 |
|
|
|
|
Inventory Turnover |
47.78 |
Impressive |
Industrial Average |
10.67 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
5.11 |
|
Payables Conversion Period |
9.79 |
|
|
|
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 34 days at the end of 2011 to 8
days at the end of 2012. This represents a positive trend. And Inventory
turnover has increased from 10.7 times in year 2011 to 47.78 times in year
2012.
The company's Total Asset Turnover is calculated as 3.21 times and 2.51
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.62.12 |
|
UK Pound |
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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.