MIRA
INFORM REPORT
|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROTHENBURG
COMPANY LIMITED |
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|
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Registered Office : |
27/18 Moo 13, T. Klongsong, A. Klongluang, Pathumthani 12120 |
|
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Country : |
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|
|
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
05.01.2001 |
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|
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Com. Reg. No.: |
0105544001609 |
|
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|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
engaged in
manufacturing,
distributing and exporting
various kinds of
metal parts for
general industrial machinery,
as well as
provide consulting of industrial
machinery for garment
|
|
|
|
|
No. of Employees |
120 (approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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|
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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
ROTHENBURG COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 23
SOI CHAROENPORN, PRADIPAT
ROAD,
SAMSENNAI, PHAYATHAI,
BANGKOK 10400,
THAILAND
TELEPHONE : [66] 2618-6671-2
FAX :
[66] 2618-6673
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : 27/18
MOO 13, T. KLONGSONG,
A. KLONGLUANG,
PATHUMTHANI 12120,
THAILAND
ESTABLISHED
: 2001
REGISTRATION
NO. : 0105544001609
TAX
ID NO. : 3030205940
CAPITAL REGISTERED : BHT. 15,000,000
CAPITAL PAID-UP : BHT.
15,000,000
SHAREHOLDER’S PROPORTION : THAI :
98.33%
GERMAN :
1.67%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. UDOMDECH THAMANGRAKSAT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 120
LINES
OF BUSINESS : MACHINE PARTS
MANUFACTURER, DISTRIBUTOR
AND 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 January 5,
2001 as a
private limited company
under the registered
name ROTHENBURG COMPANY LIMITED., by
Thai and German
groups, with the
business objective to manufacture and
distribute various kinds
of metal parts
for machinery both
domestic and international
markets. It currently
employs approximately 120
staff.
The
subject’s registered address
is 27/18 Moo 13, T.
Klongsong, A. Klongluang, Pathumthani 12120, while
the current operation
address is 23 Soi
Charoenporn, Pradipat Road,
Samsennai, Phayathai, Bangkok
10400.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hansjorg Kutter |
|
German |
72 |
|
Mrs. Sansanee Thamangraksat |
|
Thai |
51 |
|
Mr. Udomdech Thamangraksat |
|
Thai |
59 |
AUTHORIZED PERSON
Any of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Udomdech Thamangraksat is
the Managing Director.
He is Thai
nationality with the
age of 59
years old.
BUSINESS OPERATIONS
The subject’s
main business is
engaged in manufacturing, distributing
and exporting various
kinds of metal
parts for general
industrial machinery, as
well as provide consulting of
industrial machinery for
garment
PURCHASE
Raw
materials are purchased
from suppliers both
domestic and overseas,
mainly in Germany,
Republic of China,
Japan and Australia.
SALES
The products are
sold and serviced
to customers both
local and overseas,
mainly in Germany,
India, Hong Kong,
Japan and Malaysia.
RELATED AND AFFILIATED
COMPANIES
Eco Coat Co.,
Ltd.
Business Type :
Importer and distributor
of industrial paints
Rothenburg FAR Co.,
Ltd.
Business Type :
Importer and distributor
of water-based paints
Rothenburg Tex Co.,
Ltd.
Business Type :
Manufacturer and distributor
of industrial machinery
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 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
approximately 120 office
staff and factory
workers.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Factory/Warehouse:
Factory
I : 27/18 Moo 13,
T. Klongsong, A. Klongluang, Pathumthani
12120.
Factory
II : 29/95 Moo
2, 345 Road, T. Lampo,
A. Bangbuathong,
Nonthaburi
11110.
Factory
III : 103/1
Moo 7, Banhuaybong Road,
T. Pasao, A. Muang, Uttaradit
53000.
COMMENT
The
subject as a
German technology and consulting company has been started operation in
Thailand in 2001 as knit wear and
sport garment production coordinator,
quality controller and
expediting the goods for
a major supplier
to Germany.
Its over decade of
experience providing responsibility to customer in
term of product
quality and good service.
Even though an
overall economy is
likely slow, it is
still optimistic that
the products distributed by the
subject would have stable
growth this year
from domestic industrial sector. The
market’s demand was
mainly inspired by good performance
of various industries.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 100,000
shares of Bht.
100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 10,000,000
on October 14,
2011
Bht. 15,000,000
on October 9,
2012
The
latest registered capital
was increased to
Bht. 15 million, divided
into 150,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Udomdech Thamangraksat Nationality: Thai Address : 23 Soi
Charaornporn, Pradipat
Road,
Samsennai, Phayathai, Bangkok |
75,095 |
50.06 |
|
Mrs. Sansanee Thamangraksat Nationality: Thai Address : 40/189
Moo 3, Soi Phaholyothin 48,
Anusawaree, Bangkhen, Bangkok
|
70,001 |
46.67 |
|
Mr. Hansjork Kutter Nationality: German Address : Germany |
2,500 |
1.67 |
|
Mr. Chanatip Thamangraksat Nationality: Thai Address : 23 Soi
Charaornporn, Pradipat
Road,
Samsennai, Phayathai, Bangkok |
2,401 |
1.60 |
|
Mr. Supoj Thamangraksat Nationality: Thai Address : 23
Soi Charaornporn, Pradipat Road,
Samsennai, Phayathai, Bangkok |
1 |
- |
|
Ms. Monthip Veerajit Nationality: Thai Address : 34/8
Soi Charoenrat 12,
Klongtonsai,
Klongsan, Bangkok |
1 |
- |
|
Mr. Pongsak Kanich Nationality: Thai Address : 538
Ladparo 132 Road, Klongchan,
Bangkapi, Bangkok |
1 |
- |
Total Shareholders : 7
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
147,500 |
98.33 |
|
Foreign-German |
1 |
2,500 |
1.67 |
|
Total |
7 |
150,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Suwaree Daothong No.
7655
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 |
50,027,206.48 |
21,446,535.05 |
10,639,248.17 |
|
Trade Accounts &
Other Receivable |
82,848,258.04 |
19,704,577.67 |
8,085,422.17 |
|
Short-term Lending to Director |
48,497,866.26 |
64,513,877.13 |
49,021,116.36 |
|
Inventories |
149,341,270.01 |
65,741,419.63 |
1,336,708.62 |
|
Deposits |
39,476,650.00 |
350,050.00 |
20,353,859.74 |
|
Withholding Income Tax |
3,206,442.98 |
3,206,442.98 |
6,092,659.70 |
|
Other Current Assets
|
2,152,754.93 |
1,149,890.96 |
471,953.91 |
|
|
|
|
|
|
Total Current Assets
|
375,550,448.70 |
176,112,793.42 |
96,000,968.67 |
|
|
|
|
|
|
Fixed Assets |
16,495,693.81 |
12,833,249.79 |
8,735,874.40 |
|
Total Assets |
392,046,142.51 |
188,946,043.21 |
104,736,843.07 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft |
- |
21,423,156.45 |
6,718,756.34 |
|
Trade Accounts & Other Payable |
337,073,811.72 |
138,200,133.35 |
75,765,301.76 |
|
Short-term Loan from Related Company |
7,677,500.00 |
2,877,600.00 |
877,500.00 |
|
Accrued Income Tax |
1,377,430.38 |
- |
- |
|
Current Portion of Financial Lease Contract Liabilities |
1,971,880.00 |
2,227,098.00 |
1,474,896.83 |
|
Other Current Liabilities |
4,138,835.63 |
2,876,745.52 |
6,121,999.64 |
|
|
|
|
|
|
Total Current Liabilities |
352,239,465.73 |
167,604,733.32 |
90,958,454.57 |
|
|
|
|
|
|
Financial Lease Contract Liabilities, net |
1,990,913.58 |
3,766,782.37 |
3,331,864.39 |
|
Total Liabilities |
354,230,379.31 |
171,371,515.69 |
94,290,318.96 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 150,000 shares in 2012; 100,000
share in 2011
& 10,000 shares in
2010 |
15,000,000.00 |
10,000,000.00 |
1,000,000.00 |
|
|
|
|
|
|
Capital Paid |
15,000,000.00 |
10,000,000.00 |
1,000,000.00 |
|
Retained Earning - Unappropriated |
22,815,763.20 |
7,574,527.52 |
9,446,524.11 |
|
Total Shareholders' Equity |
37,815,763.20 |
17,574,527.52 |
10,446,524.11 |
|
Total Liabilities &
Shareholders' Equity |
392,046,142.51 |
188,946,043.21 |
104,736,843.07 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales & Services Income |
700,016,571.05 |
225,748,331.37 |
117,283,582.94 |
|
Other Income |
2,200,216.65 |
50,618,568.33 |
1,043,740.16 |
|
Total Revenues |
702,216,787.70 |
276,366,899.70 |
118,327,323.10 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
608,053,513.82 |
234,761,938.91 |
87,545,990.23 |
|
Selling and Administrative
Expenses |
72,433,870.49 |
43,246,365.54 |
30,042,297.93 |
|
Total Expenses |
680,487,384.31 |
278,008,304.45 |
117,588,288.16 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income Tax |
21,729,403.39 |
[1,641,404.75] |
739,034.94 |
|
Financial Cost |
[1,189,474.50] |
[223,785.15] |
[517,447.91] |
|
Profit / [Loss] before
Income Tax |
20,539,928.89 |
[1,865,189.90] |
221,587.03 |
|
Income Tax |
[5,298,693.21] |
[6,806.69] |
[120,165.64] |
|
Net Profit / [Loss] |
15,241,235.68 |
[1,871,996.59] |
101,421.39 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.07 |
1.05 |
1.06 |
|
QUICK RATIO |
TIMES |
0.51 |
0.63 |
0.74 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
42.44 |
17.59 |
13.43 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.79 |
1.19 |
1.12 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
89.65 |
102.21 |
5.57 |
|
INVENTORY TURNOVER |
TIMES |
4.07 |
3.57 |
65.49 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
43.20 |
31.86 |
25.16 |
|
RECEIVABLES TURNOVER |
TIMES |
8.45 |
11.46 |
14.51 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
202.34 |
214.87 |
315.88 |
|
CASH CONVERSION CYCLE |
DAYS |
(69.49) |
(80.80) |
(285.15) |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
86.86 |
103.99 |
74.64 |
|
SELLING & ADMINISTRATION |
% |
10.35 |
19.16 |
25.62 |
|
INTEREST |
% |
0.17 |
0.10 |
0.44 |
|
GROSS PROFIT MARGIN |
% |
13.45 |
18.43 |
26.25 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.10 |
(0.73) |
0.63 |
|
NET PROFIT MARGIN |
% |
2.18 |
(0.83) |
0.09 |
|
RETURN ON EQUITY |
% |
40.30 |
(10.65) |
0.97 |
|
RETURN ON ASSET |
% |
3.89 |
(0.99) |
0.10 |
|
EARNING PER SHARE |
BAHT |
101.61 |
(18.72) |
10.14 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.90 |
0.91 |
0.90 |
|
DEBT TO EQUITY RATIO |
TIMES |
9.37 |
9.75 |
9.03 |
|
TIME INTEREST EARNED |
TIMES |
18.27 |
(7.33) |
1.43 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
210.09 |
92.48 |
|
|
OPERATING PROFIT |
% |
(1,423.83) |
(322.10) |
|
|
NET PROFIT |
% |
914.17 |
(1,945.76) |
|
|
FIXED ASSETS |
% |
28.54 |
46.90 |
|
|
TOTAL ASSETS |
% |
107.49 |
80.40 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 210.09%. Turnover has increased from THB
225,748,331.37 in 2011 to THB 700,016,571.05 in 2012. While net profit has increased
from THB -1,871,996.59 in 2011 to THB 15,241,235.68 in 2012. And total assets
has increased from THB 188,946,043.21 in 2011 to THB 392,046,142.51 in 2012.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
13.45 |
Acceptable |
Industrial Average |
20.46 |
|
Net Profit Margin |
2.18 |
Deteriorated |
Industrial Average |
5.84 |
|
Return on Assets |
3.89 |
Acceptable |
Industrial Average |
7.19 |
|
Return on Equity |
40.30 |
Impressive |
Industrial Average |
15.42 |
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 13.45%. 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 2.18%.
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 3.89%.
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 ratio is 40.3%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.07 |
Acceptable |
Industrial Average |
1.61 |
|
Quick Ratio |
0.51 |
|
|
|
|
Cash Conversion Cycle |
(69.49) |
|
|
|
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 1.07 times in 2012, increased from 1.05 times, then it is generally
considered to have good short-term financial strength. 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 0.51 times in 2012,
decreased from 0.63 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 -70 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.90 |
Acceptable |
Industrial Average |
0.52 |
|
Debt to Equity Ratio |
9.37 |
Risky |
Industrial Average |
1.08 |
|
Times Interest Earned |
18.27 |
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 18.27 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 0.9 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
42.44 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.79 |
Impressive |
Industrial Average |
1.23 |
|
Inventory Conversion Period |
89.65 |
|
|
|
|
Inventory Turnover |
4.07 |
Impressive |
Industrial Average |
2.94 |
|
Receivables Conversion Period |
43.20 |
|
|
|
|
Receivables Turnover |
8.45 |
Impressive |
Industrial Average |
2.31 |
|
Payables Conversion Period |
202.34 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.45 and 11.46
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 decreased from 102 days at the
end of 2011 to 90 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 3.57 times in year 2011 to 4.07 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.79 times and 1.19
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 Uptrend
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.