MIRA
INFORM REPORT
|
Report Date : |
27.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
RCI LABSCAN LIMITED |
|
|
|
|
Registered Office : |
24
Rama I Road,
Rongmuang, Pathumwan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
29.09.2008 |
|
|
|
|
Com. Reg. No.: |
0105551110906 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is
engaged in manufacturing and marketing wide
range of industrial
chemicals for electronics, metal
finishing, jewelry, pharmaceuticals & healthcare products,
cosmetics, foods &
supplements, analytical laboratory,
petroleum & gas,
agricultural and compact
disc industries |
|
|
|
|
No. of Employees : |
190 |
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 |
|
Payment Behaviour : |
Slow but correct |
|
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
RCI LABSCAN LIMITED
SUMMARY
BUSINESS
ADDRESS : 24
RAMA I ROAD,
RONGMUANG,
PATHUMWAN, BANGKOK
10330, THAILAND
TELEPHONE : [66] 2613-7911-4,
2613-7600-5
FAX :
[66] 2613-7915
E-MAIL
ADDRESS : sales@rcilabscan.com
exim@rcilabscan.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2008
REGISTRATION
NO. : 0105551110906
TAX
ID NO. : 3033247978
CAPITAL REGISTERED : BHT. 150,000,000
CAPITAL PAID-UP : BHT.
150,000,000
SHAREHOLDER’S PROPORTION : THAI : 99.43%
IRISH :
0.57%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. UMPHAN VIPRAKASIT,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 190
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
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 September 29,
2008 as a
private limited company
by a merger
among “RCI Labscan
Limited” [Ref. No. 0105551024945], “Labscan
Asia Limited” [Ref. No. 0105538072389] and “Reagent Chemical
Industry Limited” [Ref. No. 0105534058179], under
the registered name
RCI LABSCAN LIMITED.
Its business objective
is to manufacture
and market various
kinds of industrial
chemicals to both
domestic and overseas
markets. It currently
employs approximately 190
staff.
The
subject’s registered address
is 24 Rama
I Rd., Rongmuang,
Pathumwan, Bangkok 10330,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Umphan Viprakasit |
|
Thai |
30 |
|
Mr. Taksin Viprakasit |
|
Thai |
79 |
|
Mrs. Sumarat Viprakasit |
|
Thai |
30 |
|
Mr. Eiam Eiamvananontachai |
|
Thai |
- |
|
Ms. Panarat Viprakasit |
|
Thai |
- |
|
Mr. Pichet Viprakasit |
|
Thai |
30 |
|
Mr. Boonrat Onkor |
|
Thai |
73 |
AUTHORIZED PERSON
Any two of the
above directors can jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Umphan Viprakasit is
the Managing Director.
He is
Thai nationality with
the age of
30 years old.
Mr.
Siriyong Supaprapakorn is
the Marketing Manager.
He is
Thai nationality.
Mr.
Monchai Thanasusakul is
the Sales Manager.
He is
Thai nationality.
BUSINESS OPERATIONS
The subject is engaged in
manufacturing and marketing
wide range of
industrial chemicals for
electronics, metal finishing,
jewelry, pharmaceuticals &
healthcare products, cosmetics,
foods & supplements,
analytical laboratory, petroleum & gas, agricultural
and compact disc
industries.
MAJOR BRANDS
“RCI LABSCAN” and “KEMMAR”
PURCHASE
Raw materials are
purchased from suppliers
and agents in
both domestic and overseas,
such as Germany,
Japan, Malaysia, Italy,
Spain and Republic
of China.
SALES
80% of the
products is sold
locally by wholesale
to manufacturers and
end-users, the remaining
20% is exported
to Malaysia, Singapore,
Japan, Taiwan, South
Korea, Australia, Indonesia, Republic of
China, India, Pakistan,
Hong Kong, Bangladesh,
Vietnam, Philippines and
New Zealand.
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 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.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
190 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
Factory
is located at
86 Moo 1, T.
Bangtorad, A. Muang, Samutsakorn
74000.
Tel.
34 845-319-20, Fax.
34 845-321.
Warehouses:
-
704 Soi Prachit,
Srinakarin Rd., Suanluang,
Bangkok 10250.
-
99 Moo 9,
Soi Wat Laemfapha,
Suksawad Rd., T. Naiklongbangplagod,
A.
Phrasamutjedee, Samutprakarn 10290.
COMMENT
Subject
was formed in
2008 as a
manufacturer and distributor
of industrial chemicals.
The products are
for industrial users.
It is become a reliable company
and to
enhance customer satisfaction.
The subject still has good business potential
for industrial sector both domestic
and export markets.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 150,000,000 divided
into 15,000,000 shares
of Bht. 10 each
with fully paid.
MAIN
SHAREHOLDERS : [as
at March 29,
2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Taksin Viprakasit Nationality: Thai Address : 73
Thaklang Rd., Thabthieng,
Muang, Trang |
3,522,849 |
23.48 |
|
Mr. Umphan Viprakasit Nationality: Thai Address : 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok |
1,872,381 |
12.48 |
|
Mrs. Sumarat Viprakasit Nationality: Thai Address : 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok |
1,839,971 |
12.27 |
|
Mr. Pichet Viprakasit Nationality: Thai Address : 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok |
1,693,762 |
11.29 |
|
Mr. Eiam Eiamvananontachai Nationality: Thai Address : 240
Soi Sirinthorn 2, Bangplad, Bangkok |
1,650,000 |
11.00 |
|
Mr. Panarat Viprakasit Nationality: Thai Address : 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok |
1,270,480 |
8.47 |
|
Others |
3,150,557 |
21.01 |
Total Shareholders : 28
Share Structure [as
at March 29,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
27 |
14,914,286 |
99.43 |
|
Foreign-Irish |
1 |
85,714 |
0.57 |
|
Total |
28 |
15,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Vorarat Kiatthanawit No.
8334
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 |
27,708,083.71 |
39,022,716.29 |
54,973,754.53 |
|
Trade Accounts &
Other Receivable |
69,465,751.02 |
83,205,405.03 |
205,271,462.74 |
|
Short-term Loans |
- |
- |
1,502,252.89 |
|
Inventories |
98,357,901.72 |
85,322,865.50 |
65,706,740.26 |
|
Other Current Assets
|
- |
- |
177,189.78 |
|
|
|
|
|
|
Total Current Assets
|
195,531,736.45 |
207,550,986.82 |
327,631,400.19 |
|
|
|
|
|
|
Long-term Investment |
1,072,265.00 |
1,072,265.00 |
1,072,265.00 |
|
Long-term Loans |
1,404,182.34 |
1,404,182.34 |
1,000,000.00 |
|
Fixed Assets |
358,660,115.65 |
390,395,685.66 |
350,076,970.49 |
|
Intangible Assets |
1,958,274.27 |
3,243,196.87 |
4,417,356.89 |
|
Other Non-current Assets |
1,126,139.89 |
2,967,393.89 |
1,577,755.73 |
|
Total Assets |
559,752,713.60 |
606,633,710.58 |
685,775,748.30 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
35,671,506.95 |
6,950,128.72 |
42,536,288.97 |
|
Trade Accounts & Other Payable |
44,900,915.58 |
34,930,794.40 |
44,356,322.70 |
|
Current Portion of Long-term Liabilities |
60,468,919.57 |
50,384,312.16 |
50,000,000.00 |
|
Accrued Income Tax |
805,512.73 |
24,578,617.06 |
11,692,304.76 |
|
|
|
|
|
|
Total Current Liabilities |
141,846,854.83 |
116,843,852.34 |
148,584,916.43 |
|
|
|
|
|
|
Long-term Loans |
32,930,000.00 |
105,498,919.57 |
146,000,000.00 |
|
Employee Benefits Obligation |
10,076,594.95 |
9,306,062.41 |
- |
|
Total Liabilities |
184,853,449.78 |
231,648,834.32 |
294,584,916.43 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 15,000,000 shares |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
|
|
|
|
|
Capital Paid |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
Retained Earnings Appropriated Statutory
Reserve |
15,000,000.00 |
15,000,000.00 |
13,069,976.41 |
|
General Reserve |
8,000,000.00 |
8,000,000.00 |
8,000,000.00 |
|
Unappropriated |
201,899,263.82 |
201,984,876.26 |
220,120,855.46 |
|
Total Shareholders' Equity |
374,899,263.82 |
374,984,876.26 |
391,190,831.87 |
|
Total Liabilities &
Shareholders' Equity |
559,752,713.60 |
606,633,710.58 |
685,775,748.30 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
345,605,899.58 |
384,562,685.20 |
392,052,817.26 |
|
Compensation Income |
18,122,395.00 |
10,852,232.10 |
48,051,788.16 |
|
Other Income |
4,450,160.22 |
2,362,728.03 |
1,810,690.52 |
|
Total Revenues |
368,178,454.80 |
397,777,645.33 |
441,915,295.94 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
272,222,230.92 |
267,519,326.96 |
263,639,285.66 |
|
Selling Expenses |
40,534,633.47 |
39,787,786.33 |
29,939,002.34 |
|
Administrative Expenses |
48,540,955.95 |
52,121,122.95 |
52,725,176.53 |
|
Total Expenses |
361,297,820.34 |
359,428,236.24 |
346,303,464.53 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
6,880,634.46 |
38,349,409.09 |
95,611,831.41 |
|
Financial Cost |
[6,053,909.81] |
[8,061,291.22] |
[8,935,993.76] |
|
Profit before Income Tax |
826,724.65 |
30,288,117.87 |
86,675,837.65 |
|
Income Tax |
[805,512.73] |
[24,578,617.06] |
[11,692,304.76] |
|
Net Profit / [Loss] |
21,211.92 |
5,709,500.81 |
74,983,532.89 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.38 |
1.78 |
2.21 |
|
QUICK RATIO |
TIMES |
0.69 |
1.05 |
1.76 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
0.96 |
0.99 |
1.12 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.62 |
0.63 |
0.57 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
131.88 |
116.41 |
90.97 |
|
INVENTORY TURNOVER |
TIMES |
2.77 |
3.14 |
4.01 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
73.36 |
78.97 |
191.11 |
|
RECEIVABLES TURNOVER |
TIMES |
4.98 |
4.62 |
1.91 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
60.20 |
47.66 |
61.41 |
|
CASH CONVERSION CYCLE |
DAYS |
145.04 |
147.73 |
220.67 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.77 |
69.56 |
67.25 |
|
SELLING & ADMINISTRATION |
% |
25.77 |
23.90 |
21.08 |
|
INTEREST |
% |
1.75 |
2.10 |
2.28 |
|
GROSS PROFIT MARGIN |
% |
27.76 |
33.87 |
45.47 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.99 |
9.97 |
24.39 |
|
NET PROFIT MARGIN |
% |
0.01 |
1.48 |
19.13 |
|
RETURN ON EQUITY |
% |
0.01 |
1.52 |
19.17 |
|
RETURN ON ASSET |
% |
0.00 |
0.94 |
10.93 |
|
EARNING PER SHARE |
BAHT |
0.00 |
0.38 |
5.00 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.33 |
0.38 |
0.43 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.49 |
0.62 |
0.75 |
|
TIME INTEREST EARNED |
TIMES |
1.14 |
4.76 |
10.70 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(10.13) |
(1.91) |
|
|
OPERATING PROFIT |
% |
(82.06) |
(59.89) |
|
|
NET PROFIT |
% |
(99.63) |
(92.39) |
|
|
FIXED ASSETS |
% |
(8.13) |
11.52 |
|
|
TOTAL ASSETS |
% |
(7.73) |
(11.54) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -10.13%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
27.76 |
Satisfactory |
Industrial
Average |
35.85 |
|
Net Profit Margin |
0.01 |
Deteriorated |
Industrial
Average |
3.09 |
|
Return on Assets |
0.00 |
Deteriorated |
Industrial
Average |
2.95 |
|
Return on Equity |
0.01 |
Deteriorated |
Industrial
Average |
4.99 |
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 27.76%. 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 0.01%.
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 0%.
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 0.01%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.38 |
Satisfactory |
Industrial
Average |
1.64 |
|
Quick Ratio |
0.69 |
|
|
|
|
Cash Conversion Cycle |
145.04 |
|
|
|
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 1.38 times in 2012, decreased from 1.78 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 0.69 times in 2012,
decreased from 1.05 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 146 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.33 |
Impressive |
Industrial
Average |
0.40 |
|
Debt to Equity Ratio |
0.49 |
Impressive |
Industrial
Average |
0.66 |
|
Times Interest Earned |
1.14 |
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 1.14 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 0.33 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
0.96 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.62 |
Acceptable |
Industrial
Average |
0.96 |
|
Inventory Conversion Period |
131.88 |
|
|
|
|
Inventory Turnover |
2.77 |
Acceptable |
Industrial
Average |
5.47 |
|
Receivables Conversion Period |
73.36 |
|
|
|
|
Receivables Turnover |
4.98 |
Impressive |
Industrial
Average |
4.77 |
|
Payables Conversion Period |
60.20 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.98 and
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 increased from 116 days at the
end of 2011 to 132 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 3.14 times in year 2011 to 2.77 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.62 times and 0.63
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 Stable
Total Assets Turnover Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.