MIRA INFORM REPORT
|
Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
B.V.Z. FABRICS [THAILAND] CO. LTD. |
|
|
|
|
Registered Office : |
999/86 Moo 20, Soi Boonmeesub, Bangplee-Tamru Road, Bangpleeyai, Bangplee, Samutprakarn 10540 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
2003 |
|
|
|
|
Com. Reg. No.: |
0105546069936 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor and
Exporter of Outdoor
Furniture and Related
Products |
|
|
|
|
No. of Employees : |
150 |
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 |
|
Payment Behaviour : |
No complaints |
|
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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
B.V.Z. FABRICS
[THAILAND] CO. LTD.
SUMMARY
BUSINESS ADDRESS : 999/86 MOO 20,
SOI BOONMEESUB,
BANGPLEE-TAMRU ROAD,
BANGPLEEYAI,
BANGPLEE,
SAMUTPRAKARN
10540, THAILAND
TELEPHONE :
[66] 2174-5174-5,
081 257-8243
FAX : [66] 2174-5176
E-MAIL ADDRESS : info@bvzth.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2003
REGISTRATION NO. : 0105546069936 [Former
: 10554600640]
TAX ID NO. : 3031042766
CAPITAL REGISTERED : BHT.
5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI
: 51.00%
FOREIGN :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HENDRIK JACOB
STIJWEQ, DUTCH
MANAGING DIRECTOR
NO. OF STAFF : 150
LINES OF BUSINESS : OUTDOOR FURNITURE
AND RELATED PRODUCTS
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 June
18, 2003 as
a private limited
company under the
name style “B.V.Z. FABRICS
[THAILAND] CO., LTD.”, by Thai
and Hong Kong
groups, with the
initial business objective
to import and
distribute international brands
fabrics. Later, its
business was expanded
to manufacture and
market wide range
of outdoor furniture
and related products
for both domestic
and international markets.
It currently employs
approximately 150 staff.
The subject is
also an affiliate
of B. Van Zuiden
[Asia] Limited, in
Hong Kong.
The subject’s registered
address was initially
located at 235/3-5
Sukhumvit Rd., Klongtoey
Nua, Wattana, Bangkok
10110.
On March 11,
2010, subject’s registered
address was relocated
to 999/86 Moo
20, Soi Boonmeesub,
Bangplee-Tamru Rd., Bangpleeyai,
Bangplee, Samutprakarn 10540,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hendrik Jacob Stijweq |
|
Dutch |
68 |
AUTHORIZED
PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Hendrik Jacob
Stijweq is the
Managing Director.
He is Dutch
nationality with the
age of 68
years old.
Mr. Pattaya is the
Human Resources Manager.
He is Thai
nationality
BUSINESS
OPERATIONS
The subject is
engaged in contracted
manufacturing wide range
of teak, steel
and aluminum outdoor furniture and
related products, including cushion &
pillow case, outdoor
sofa, sun shading
umbrella, funky bean
bags and suncubes
and etc., under its
brand “SUNITURE” and
other brands.
The subject is also
importer and distributor of
fabrics for furniture
and upholstery production.
IMPORT
The products are imported from Hong Kong, U.S.A., and the
countries in Europe.
MAJOR
SUPPLIERS
B. Van Zuiden [Asia]
Limited : Hong Kong
Kingsford [Hong Kong] Ltd. : Hong
Kong
Glen Raven Inc. : U.S.A.
SALES
Most of products
are sold locally
by wholesale to
dealers and end-users,
the remaining is exported to
U.S.A., Hong Kong,
Myanmar, Indonesia and
Singapore.
MAJOR
CUSTOMER
Terra Furniture Inc.
: U.S.A.
RELATED
AND AFFILIATED COMPANY
Emhues Co., Ltd.
Business Type :
Distributor of fabrics
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 by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
Exports are against
T/T.
BANKING
Thanachart Bank Public
Co., Ltd.
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 150 staff.
LOCATION
DETAILS
The premise is
owned for administrative office
and factory at
the heading address. Premise
is located in
industrial area.
COMMENT
The subject has been established in 2003
as a manufacturer, distributor
and exporter of outdoor furniture, as
well as importing and distributing of furniture
fabric and decoration items. Its
sales were moderate. Market
of imported fabric
is promising from demand by middle to high income
segment.
However, current market
outlook of household decorative products
is likely slow from shrinking consumption
in local market.
FINANCIAL
INFORMATION
The capital was
registered at Bht. 2,000,000 divided into
20,000 shares of
Bht. 100 each with
fully paid.
On November 23,
2009, the capital
was increased to
Bht. 5,000,000 divided into
50,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at
April 25, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
B. Van Zuiden [Asia]
Limited Nationality: Hong Kong Address : Unit
B1/F, Fast Industrial
Building, 658 Castle
Paek, Cheung Sha Wan,
Kowloon, Hong Kong |
24,500 |
49.00 |
|
Mr. Suwan Buacharoen Nationality: Thai Address : 42/3
Moo 4, Banghuasua, Phrapradaeng, Samutprakarn |
24,000 |
48.00 |
|
Ms. Chanyuma Itthidejrat Nationality: Thai Address : 999/86
Moo 20, Bangplee-Tamru Road,
Bangpleeyai, Bangplee, Samutprakarn |
500 |
1.00 |
|
Mr. Kittisak Kaewpipat Nationality: Thai Address : 999/86
Moo 20, Bangplee-Tamru Road,
Bangpleeyai, Bangplee, Samutprakarn |
500 |
1.00 |
|
Ms. Suthida Lertsubkajorn Nationality: Thai Address : 999/86
Moo 20, Bangplee-Tamru Road, Bangpleeyai, Bangplee,
Samutprakarn |
500 |
1.00 |
Total Shareholders : 5
Share Structure [as
at April 25,
2013]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
25,500 |
51.00 |
|
Foreign - Hong Kong |
1 |
24,500 |
49.00 |
|
Total |
5 |
50,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Wanphen Aoonruan No.
7750
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 |
1,898,165.08 |
1,157,538.35 |
1,984,128.87 |
|
Trade Accounts & Other
Receivable |
15,138,735.52 |
16,253,790.88 |
9,551,495.85 |
|
Inventories |
16,306,289.26 |
18,679,286.53 |
20,619,796.68 |
|
Other Current Assets |
64,393.16 |
155,426.72 |
2,292,534.23 |
|
|
|
|
|
|
Total Current Assets
|
33,407,583.02 |
36,246,042.48 |
34,447,955.63 |
|
|
|
|
|
|
Investment in Subsidiaries |
1,019,800.00 |
1,019,800.00 |
- |
|
Fixed Assets |
4,073,289.37 |
4,529,534.90 |
4,181,055.37 |
|
Intangible Assets |
1,651,840.37 |
1,663,583.08 |
1,810,952.00 |
|
Other Assets |
1,099,565.00 |
1,168,312.66 |
1,168,499.58 |
|
Total Assets |
41,252,077.76 |
44,627,273.12 |
41,608,462.58 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
20,529,752.18 |
28,102,034.05 |
13,683,019.91 |
|
Short-term Loan from Director |
- |
- |
3,446,669.21 |
|
Current Portion of Hire-purchase
Contract Liabilities |
172,078.08 |
161,225.45 |
762,992.71 |
|
Short-term Loan from Person and
Related Company |
7,139,969.21 |
3,446,669.21 |
- |
|
Accrued Expenses |
- |
- |
9,920,756.44 |
|
Accrued Income Tax |
230,394.39 |
156,079.79 |
531,548.13 |
|
Other Current Liabilities |
641,674.64 |
766,859.26 |
3,090,329.45 |
|
|
|
|
|
|
Total Current Liabilities |
28,713,868.50 |
32,632,867.76 |
31,435,315.85 |
|
|
|
|
|
|
Hire-purchase Contract Liabilities, Net of Current Portion |
- |
172,078.10 |
333,303.53 |
|
Total Liabilities |
28,713,868.50 |
32,804,945.86 |
31,768,619.38 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares
|
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning -
Unappropriated |
7,538,209.26 |
6,822,327.26 |
4,839,843.20 |
|
Total Shareholders' Equity |
12,538,209.26 |
11,822,327.26 |
9,839,843.20 |
|
Total Liabilities &
Shareholders' Equity |
41,252,077.76 |
44,627,273.12 |
41,608,462.58 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales Income |
100,533,147.14 |
101,078,251.95 |
87,765,352.11 |
|
Other Income |
1,227,805.60 |
618,848.80 |
2,430,824.87 |
|
Total Revenues |
101,760,952.74 |
101,697,100.75 |
90,196,176.98 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
59,829,605.90 |
59,678,276.80 |
47,578,690.30 |
|
Selling Expenses |
15,503,820.48 |
17,685,562.41 |
17,586,446.60 |
|
Administrative Expenses |
24,929,512.81 |
21,664,626.42 |
21,804,901.70 |
|
Total Expenses |
100,262,939.19 |
99,028,465.63 |
86,970,038.60 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
1,498,013.55 |
2,668,635.12 |
3,226,138.38 |
|
Financial Cost |
[72,843.68] |
[71,017.77] |
[121,362.97] |
|
|
|
|
|
|
Profit before Income Tax |
1,425,169.87 |
2,597,617.35 |
3,104,775.41 |
|
Income Tax |
[709,287.87] |
[615,133.29] |
[780,054.64] |
|
|
|
|
|
|
Net Profit / [Loss] |
715,882.00 |
1,982,484.06 |
2,324,720.77 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.16 |
1.11 |
1.10 |
|
QUICK RATIO |
TIMES |
0.59 |
0.53 |
0.37 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
24.68 |
22.32 |
20.99 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.44 |
2.26 |
2.11 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
99.48 |
114.24 |
158.18 |
|
INVENTORY TURNOVER |
TIMES |
3.67 |
3.19 |
2.31 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
54.96 |
58.69 |
39.72 |
|
RECEIVABLES TURNOVER |
TIMES |
6.64 |
6.22 |
9.19 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
125.25 |
171.88 |
104.97 |
|
CASH CONVERSION CYCLE |
DAYS |
29.20 |
1.06 |
92.94 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
59.51 |
59.04 |
54.21 |
|
SELLING & ADMINISTRATION |
% |
40.22 |
38.93 |
44.88 |
|
INTEREST |
% |
0.07 |
0.07 |
0.14 |
|
GROSS PROFIT MARGIN |
% |
41.71 |
41.57 |
48.56 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.49 |
2.64 |
3.68 |
|
NET PROFIT MARGIN |
% |
0.71 |
1.96 |
2.65 |
|
RETURN ON EQUITY |
% |
5.71 |
16.77 |
23.63 |
|
RETURN ON ASSET |
% |
1.74 |
4.44 |
5.59 |
|
EARNING PER SHARE |
BAHT |
14.32 |
39.65 |
46.49 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.70 |
0.74 |
0.76 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.29 |
2.77 |
3.23 |
|
TIME INTEREST EARNED |
TIMES |
20.56 |
37.58 |
26.58 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.54) |
15.17 |
|
|
OPERATING PROFIT |
% |
(43.87) |
(17.28) |
|
|
NET PROFIT |
% |
(63.89) |
(14.72) |
|
|
FIXED ASSETS |
% |
(10.07) |
8.33 |
|
|
TOTAL ASSETS |
% |
(7.56) |
7.26 |
|
ANNUAL
GROWTH : RISKY
An annual sales growth is -0.54%. Turnover has decreased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
41.71 |
Impressive |
Industrial Average |
9.55 |
|
Net Profit Margin |
0.71 |
Impressive |
Industrial Average |
0.67 |
|
Return on Assets |
1.74 |
Impressive |
Industrial Average |
1.16 |
|
Return on Equity |
5.71 |
Impressive |
Industrial Average |
3.88 |
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 41.71%. 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 0.71%, higher figure when compared
with those of its average competitors in the same industry, indicated that
business was an efficient operator in a
dominant position within its industry.
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. Return on Assets ratio is 1.74%, 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.
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 5.71%, 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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.16 |
Satisfactory |
Industrial Average |
1.49 |
|
Quick Ratio |
0.59 |
|
|
|
|
Cash Conversion Cycle |
29.20 |
|
|
|
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 1.16 times in 2012, increased from 1.11 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 0.59 times in 2012,
increased from 0.53 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 30 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.70 |
Impressive |
Industrial Average |
0.71 |
|
Debt to Equity Ratio |
2.29 |
Acceptable |
Industrial Average |
2.41 |
|
Times Interest Earned |
20.56 |
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 20.57 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 0.7 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
24.68 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.44 |
Impressive |
Industrial Average |
1.74 |
|
Inventory Conversion Period |
99.48 |
|
|
|
|
Inventory Turnover |
3.67 |
Satisfactory |
Industrial Average |
4.75 |
|
Receivables Conversion Period |
54.96 |
|
|
|
|
Receivables Turnover |
6.64 |
Impressive |
Industrial Average |
2.93 |
|
Payables Conversion Period |
125.25 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.64 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 decreased from 114 days at the
end of 2011 to 99 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 3.19 times in year 2011 to 3.67 times
in year 2012.
The company's Total Asset Turnover is calculated as 2.44 times and 2.26
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.60.03 |
|
|
1 |
Rs.101.96 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.