MIRA
INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
UR MENA LTD. |
|
|
|
|
Registered Office : |
167 Soi Ramkhamhaeng 42, Ramkhamhaeng Road, Huamark, Bangkapi, Bangkok 10240 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1998 |
|
|
|
|
Com. Reg. No.: |
0105541029341 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer & Distributor of Industrial Pipes and Valves |
|
|
|
|
No. of Employees : |
80 |
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. 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 recession severely cut Thailand's exports,
with most sectors experiencing double-digit drops. In late 2011 Thailand's
recovery was interrupted by historic flooding in the industrial areas in
Bangkok and its five surrounding provinces, crippling the manufacturing sector.
The government 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 following seven years.
|
Source
: CIA |
Company name and address
UR MENA LTD.
SUMMARY
BUSINESS ADDRESS : 167 SOI RAMKHAMHAENG
42,
RAMKHAMHAENG
ROAD, HUAMARK,
BANGKAPI,
BANGKOK 10240, THAILAND
TELEPHONE : [66] 2374-9077
FAX : [66] 2374-9088
E-MAIL ADDRESS : sales@urmena.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1998
REGISTRATION NO. : 0105541029341
TAX ID NO. : 3011941669
CAPITAL REGISTERED : BHT.
150,000,000
CAPITAL PAID-UP : BHT.
150,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SURACHAI TANTINIKORN, THAI
MANAGING DIRECTOR
NO. OF STAFF : 80
LINES OF BUSINESS : INDUSTRIAL PIPES AND VALVES
IMPORTER &
DISTRIBUTOR
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
14, 1998 as a
private limited company
under the name style UR MENA LTD. by
Thai groups. It
is one of
the leading stockists
and suppliers of
piping materials for
various industries. It
currently employs approximately
80 staff.
The subject’s registered
address was initially
located at 52 Somdejchaophraya 11
Rd., Klongsan, Bangkok
10600.
On June 5,
1998, the registered
address was relocated
to 22nd Floor,
Oriframe Asoke Tower,
253 Sukhumvit 21
Rd., Klongtoey, Wattana,
Bangkok 10110, while
the business address
was located at
52/11 Moo 13,
Krungthep Kritha Rd., Sapansoong,
Bangkok 10240.
Later, its registered
address was relocated
to 52/11 Moo
13, Krungthep Kreetha
Rd., Sapansoong, Bangkok
10240.
On January 7, 2011,
the subject’s registered
address has been
changed from “52/11
Moo 13” to
“27 Krungthep Kritha Rd.,
Sapansoong, Bangkok 10240” by the Government
district office.
On January 2,
2013, the registered
address was finally
relocated to 167
Soi Ramhkhamhaeng 42, Ramkhamhaeng Rd.,
Huamark, Bangkapi, Bangkok
10240, this is also
the subject’s current
operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Surachai Tantinikorn |
|
Thai |
42 |
|
Ms. Oranuch Kongsindhu |
|
Thai |
47 |
AUTHORIZED PERSON
One of the mentioned
directors can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Surachai Tantinikorn
is the Managing
Director.
He is Thai
nationality with the
age of 42
years old.
Ms. Oranuch Kongsindhu
is the Assistant
Managing Director.
She is Thai
nationality with the
age of 47
years old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing wide
range of industrial
equipments such as
valves, pipes and
related products. The
products are as
follows:
Products Brand
Pipe
- Carbon steel pipe,
stainless steel pipe, “V&M”, “SUMITOMO”,
“JFE”,
Ferritic alloy
steel pipe & etc. “SEAH”, “SANYO”,
“MITTAL”,
“INTERPIPE”, “BENTELER”
Flange
- Carbon steel
flange, stainless steel
flange, “WILHELM”,
“ULMAFORJA”, “MFF”,
alloy steel
flange “MICTECHNO”, “MELESI”
Fitting products
- Carbon steel
fitting, Stainless steel fitting “ULMA”, “TK”,
“SK”, “IML”
“TECHNOFORGE”, “MEGA”,
“JD”
“KAIIZEN”
Valve
- Gate valve,
ball valve, check
valve & “POWELL”
globe valve
Bolt & nut
- Alloy steel
bolt & nut “SANWA IRON”,
“CRAWFORD”
- Stainless steel bolt & nut,
- Fluoropolymer coating
bolt & nut
PURCHASE
The subject purchases
the products from
20-30 suppliers both
local and overseas,
by 60% of
its products is
imported from Singapore,
Japan, Korea, Taiwan,
Republic of China,
India, Hong Kong,
France, Italy, Sweden,
Spain, Germany and
United States of
America, and the
remaining 40% is
purchased locally.
MAJOR SUPPLIERS
Hayward Industrial Products
Inc. : United States
of America.
Pojpaiboon Equipment Co., Ltd. :
Thailand
Ulma Piping : Spain
Seah Steel Corp. : Korea
SALES [LOCAL]
The products are
sold directly to
manufacturers, wholesalers and
end-users. The subject
maintains around 100
customers nationwide.
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
according for the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid on the
credits term of
30-60 days.
Imports are by
L/C at sight
or T/T.
BUSINESS TRANSACTION
In term of
sales, the products
are sold mainly
by credit with
the maximum given
at 60 days,
and the remaining
are by cash.
For the purchasing,
the products are
imported by T/T
and L/C, while
purchased locally by
credit with the
maximum receipt at 60 days.
The subject is
not found to
have problem both
its account receivable
and payable.
BANKING
Krung Thai Bank
Public Co., Ltd.
[Head Office : 35
Sukhumvit Rd., Klongtonnua,
Wattana, Bangkok 10110]
Kasikornbank Public Co.,
Ltd.
[Head Office : 1 Kasikorn
Lane, Rajburana Rd., Rajburana,
Bangkok 10140]
EMPLOYMENT
The subject employs
approximately 80 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is
rented for operating administrative office at
the heading address.
The premise is
located in commercial/residential area.
Warehouse :
12 Highway No. 36,
T. Mabkha, A. Nikompattana, Rayong
21000.
COMMENT
The subject is a distributor of industrial pipe and valve including
fitting. The products
are mainly served to
industrial sectors. Domestic
industry has dramatically
slowdown in accordance
with economic sluggish and
slow expansion from
various industries. Decreased consumption of the
products has contributed
greatly to withdraw
its sales in
the past several
months.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
The capital was
increased later as
follows:
Bht. 10,000,000
on January 23,
2007
Bht. 20,000,000
on January 29,
2008
Bht. 50,000,000
on September 22,
2008
Bht. 95,000,000
on November 5,
2010
Bht. 150,000,000 on
November 19, 2013
The latest registered
capital was increased
to Bht. 150,000,000 divided into 1,500,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED WERE
[as at November
19, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Surachai Tantinikorn Nationality: Thai Address : 450/23
Kalapapruk Rd., Bangwha,
Pasicharoen, Bangkok |
1,045,000 |
69.67 |
|
Ms. Oranuch Kongsindhu Nationality: Thai Address : 91/30
Ladprao 87 Rd., Wangthonglang, Bangkapi, Bangkok
10240 |
450,000 |
30.00 |
|
Ms. Suwanna Tantinikorn Nationality: Thai Address : 52
Somdejchaophrya 11 Rd., Klongsan,
Bangkok 10600 |
5,000 |
0.33 |
Total Shareholders : 3
Share Structure [as at November
19, 2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
1,500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
1,500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mrs. Wanrudee Pimprapote No.
5704
BALANCE SHEET [BAHT]
The latest financial
figures published for December
31, 2012, 2011 & 2010 were:
ASSETS
|
Current Assets |
2012
|
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalent |
21,306,632.80 |
2,349,312.33 |
1,085,805.83 |
|
Short-term Investment |
- |
- |
7,647,437.94 |
|
Trade Accounts & Other Receivable |
196,044,022.88 |
224,249,348.88 |
90,857,828.65 |
|
Inventories |
368,913,484.59 |
210,556,829.93 |
159,510,003.33 |
|
Other Current Assets |
- |
- |
28,091,934.07 |
|
|
|
|
|
|
Total Current Assets
|
586,264,140.27 |
437,155,491.14 |
287,193,009.82 |
|
Cash at Bank pledged as a Collateral |
7,881,173.85 |
7,711,799.49 |
- |
|
Fixed Assets |
94,765,334.56 |
96,706,122.26 |
73,626,571.65 |
|
Intangible Assets |
1,451,962.31 |
1,485,783.57 |
- |
|
Other Assets |
67,750,620.38 |
25,238,304.96 |
22,600.00 |
|
Total Assets |
758,113,231.37 |
568,297,501.42 |
360,841,881.47 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2012
|
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft |
379,390,062.99 |
287,884,344.66 |
56,317,801.50 |
|
Trade Accounts & Other Payable |
146,351,637.10 |
81,130,331.43 |
35,803,856.38 |
|
Current Portion of
Long-term Liabilities |
16,966,604.43 |
15,105,616.14 |
3,270,325.42 |
|
Accrued Income Tax |
1,418,836.59 |
2,884,484.31 |
1,944,251.08 |
|
Other Current Liabilities |
- |
- |
98,084,652.07 |
|
|
|
|
|
|
Total Current Liabilities |
544,127,141.11 |
387,004,776.54 |
195,420,886.45 |
|
Long-term Liabilities, Net of Current Portion |
78,859,083.69 |
54,103,338.42 |
4,541,102.42 |
|
Long-term Loans from
Person or Related Company |
- |
- |
42,400,000.00 |
|
Employee Benefits Obligation |
1,420,116.00 |
510,227.00 |
- |
|
Total Liabilities |
624,406,340.80 |
441,618,341.96 |
242,361,988.87 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 950,000 shares
|
95,000,000.00 |
95,000,000.00 |
95,000,000.00 |
|
|
|
|
|
|
Capital Paid |
95,000,000.00 |
95,000,000.00 |
95,000,000.00 |
|
Retained Earning -
Unappropriated |
38,706,890.57 |
31,679,159.46 |
23,479,892.60 |
|
Total Shareholders' Equity |
133,706,890.57 |
126,679,159.46 |
118,479,892.60 |
|
Total Liabilities &
Shareholders' Equity |
758,113,231.37 |
568,297,501.42 |
360,841,881.47 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
766,288,098.30 |
798,771,679.98 |
484,825,497.16 |
|
Other Income |
10,113,395.27 |
1,289,789.75 |
5,005,657.95 |
|
Total Revenues |
776,401,493.57 |
800,061,469.73 |
489,831,155.11 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
629,060,652.33 |
662,213,223.84 |
402,889,926.01 |
|
Selling Expenses |
77,998,075.84 |
68,588,062.26 |
40,014,725.32 |
|
Administrative Expenses |
46,165,640.59 |
44,376,225.22 |
33,501,000.32 |
|
Total Expenses |
753,224,368.76 |
775,177,511.32 |
476,405,651.65 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
23,177,124.81 |
24,883,958.41 |
13,425,503.46 |
|
Financial Cost |
[12,751,997.32] |
[11,598,756.58] |
[4,363,609.06] |
|
Profit / [Loss] before Income
Tax |
10,425,127.49 |
13,285,201.83 |
9,061,894.40 |
|
Income Tax |
[3,397,396.38] |
[5,085,934.97] |
[3,420,762.66] |
|
|
|
|
|
|
Net Profit / [Loss] |
7,027,731.11 |
8,199,266.86 |
5,641,131.74 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.08 |
1.13 |
1.47 |
|
QUICK RATIO |
TIMES |
0.40 |
0.59 |
0.51 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
8.09 |
8.26 |
6.58 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.01 |
1.41 |
1.34 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
214.05 |
116.06 |
144.51 |
|
INVENTORY TURNOVER |
TIMES |
1.71 |
3.15 |
2.53 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
93.38 |
102.47 |
68.40 |
|
RECEIVABLES TURNOVER |
TIMES |
3.91 |
3.56 |
5.34 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
84.92 |
44.72 |
32.44 |
|
CASH CONVERSION CYCLE |
DAYS |
222.52 |
173.81 |
180.47 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
82.09 |
82.90 |
83.10 |
|
SELLING & ADMINISTRATION |
% |
16.20 |
14.14 |
15.16 |
|
INTEREST |
% |
1.66 |
1.45 |
0.90 |
|
GROSS PROFIT MARGIN |
% |
19.23 |
17.26 |
17.93 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.02 |
3.12 |
2.77 |
|
NET PROFIT MARGIN |
% |
0.92 |
1.03 |
1.16 |
|
RETURN ON EQUITY |
% |
5.26 |
6.47 |
4.76 |
|
RETURN ON ASSET |
% |
0.93 |
1.44 |
1.56 |
|
EARNING PER SHARE |
BAHT |
7.40 |
8.63 |
5.94 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.82 |
0.78 |
0.67 |
|
DEBT TO EQUITY RATIO |
TIMES |
4.67 |
3.49 |
2.05 |
|
TIME INTEREST EARNED |
TIMES |
1.82 |
2.15 |
3.08 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(4.07) |
64.75 |
|
|
OPERATING PROFIT |
% |
(6.86) |
85.35 |
|
|
NET PROFIT |
% |
(14.29) |
45.35 |
|
|
FIXED ASSETS |
% |
(2.01) |
31.35 |
|
|
TOTAL ASSETS |
% |
33.40 |
57.49 |
|
ANNUAL GROWTH : RISKY
An annual sales growth is -4.07%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
19.23 |
Impressive |
Industrial Average |
13.39 |
|
Net Profit Margin |
0.92 |
Acceptable |
Industrial Average |
1.49 |
|
Return on Assets |
0.93 |
Deteriorated |
Industrial Average |
2.89 |
|
Return on Equity |
5.26 |
Acceptable |
Industrial Average |
8.73 |
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 19.23%. When compared with the industry average, the
ratio of the company was higher, indicated that company was more profitable
than the same industry.
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 0.92%.
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 0.93%.
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 5.26%.
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 |
1.08 |
Satisfactory |
Industrial Average |
1.26 |
|
Quick Ratio |
0.40 |
|
|
|
|
Cash Conversion Cycle |
222.52 |
|
|
|
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 1.08 times in 2012, decreased from
1.13 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 0.4 times in 2012,
decreased from 0.59 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 223 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.82 |
Acceptable |
Industrial Average |
0.68 |
|
Debt to Equity Ratio |
4.67 |
Risky |
Industrial Average |
2.11 |
|
Times Interest Earned |
1.82 |
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 higher the percentage means that the company is
using less equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 1.82 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 0.82 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
8.09 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.01 |
Acceptable |
Industrial Average |
1.94 |
|
Inventory Conversion Period |
214.05 |
|
|
|
|
Inventory Turnover |
1.71 |
Deteriorated |
Industrial Average |
4.08 |
|
Receivables Conversion Period |
93.38 |
|
|
|
|
Receivables Turnover |
3.91 |
Satisfactory |
Industrial Average |
4.63 |
|
Payables Conversion Period |
84.92 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.91 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 214 days at the end of 2012. This represents a negative trend. And Inventory
turnover has decreased from 3.15 times in year 2011 to 1.71 times in year 2012.
The company's Total Asset Turnover is calculated as 1.01 times and 1.41
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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.