MIRA INFORM REPORT
|
Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXTRA AWNING CO., LTD. |
|
|
|
|
Registered Office : |
96/7 Moo 2, T. Puntainorasingh, A. Muang, Samutsakorn 74000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.09.1993 |
|
|
|
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Com. Reg. No.: |
0105536105646 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Importer, Distributor and Service of Awning and Canopy. |
|
|
|
|
No. of Employees : |
35 |
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 |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 in 2013 implemented a nation-wide 300 baht ($10) per day minimum
wage policy and deployed 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. This was expected to lead to an economic upsurge but growth has remained
slow, in part due to ongoing political unrest and resulting uncertainties.
Spending on infrastructure will require re-approval once a new government is
seated.
|
Source
: CIA |
Company
Name
EXTRA AWNING
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 96/7
MOO 2, T.
PUNTAINORASINGH, A.
MUANG,
SAMUTSAKORN 74000, THAILAND
TELEPHONE : [66] 2416-3458,
2416-4041, 34 865-550-9
FAX :
[66] 2416-1128,
34 865-561
E-MAIL
ADDRESS : awning@extra-awning.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1993
REGISTRATION
NO. : 0105536105646
TAX
ID NO. : 3011326862
CAPITAL REGISTERED : BHT. 12,000,000
CAPITAL PAID-UP : BHT.
12,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
ANAN SURIYAPRAPADILOK, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 35
LINES
OF BUSINESS : AWNING AND
CANOPY
MANUFACTURER, IMPORTER,
DISTRIBUTOR AND
SERVICE
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on September 15,
1993 as a
private limited company under
the name style
EXTRA AWNING CO., LTD.,
by Thai
group, Suriyaprapadilok family.
Its business objective
is to manufacture
and distribute various
types of awning
and canopy to
local market. It
currently employs 35
staff.
The
subject’s registered address
was initially at 1748/21-22
New Rd., Yannawa, Sathorn,
Bangkok 10120.
In
May 2008, the
registered address was
relocated to 96/7
Moo 2, T.
Puntainorasingh, A. Muang,
Samutsakorn 74000, and
this is the company’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Anan Suriyaprapadilok |
[x] |
Thai |
52 |
|
Ms. Chanida Suriyaprapadilok |
[x] |
Thai |
49 |
|
Mr. Sukit Suriyaprapadilok |
|
Thai |
45 |
AUTHORIZED
PERSON
Both of the
mentioned directors [x] can
jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Anan Suriyaprapadilok is
the Managing Director.
He is Thai
nationality with the
age of 52
years old.
Ms. Chanida Suriyaprapadilok is
the General Manager.
She is Thai
nationality with the
age of 49 years
old.
BUSINESS
OPERATIONS
The subject’s activities
can be classified
as the followings:
- Design, manufacturing
and installation services
of retraceable awing,
canopy, tent and
tension membrane
structure.
- Importer and
distributor various types of
aluminum awning, canvas
shutter and
accessories mainly
for vehicle, truck,
tent and covering
appliances.
The subject
also provides repair
and maintenance services.
MAJOR BRANDS
“SATTLER”, “FERRARI”, “ELERO”
and “TOPLINE”
PURCHASE
80% of
the products is
imported from Germany, Belgium,
France, Republic of
China, Taiwan, Austria
and Italy, the
remaining 20% is
purchased from local
suppliers.
MAJOR
SUPPLIERS
Sattler
AG. : Austria
Ferrari
SA : France
Elero
GmbH. : Germany
SALES
100% of the
products is sold
and serviced locally
to dealers and
end-users both private
and government sectors.
RELATED
AND AFFILIATED COMPANIES
Sahaphol Canvas Limited
Partnership
Business Type : Distributor of
canvas products
Thai Vinyter Co.,
Ltd.
Business Type :
Manufacturer, importer and
distributor of canvas
machines
Extra Truck Cover
Co., Ltd.
Business Type : Manufacturer of
automotive covering products
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 to 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
L/C at sight
or T/T.
BANKING
Kasikornbank Public Co.,
Ltd.
[Yannawa Branch :
New Rd., Yannawa,
Sathorn, Bangkok]
EMPLOYMENT
The
subject employs 35
office staff and
service workers.
LOCATION
DETAILS
The
premise is owned for
administrative office, factory and
warehouse at the
heading address. Premise
is located in
provincial, on the
outskirts of Bangkok.
COMMENT
The
subject has continued
gaining its high recognition in developing
and servicing efficiency,
which have long
been in the
market for more
than 20 years.
The products have
a wide variety
purposes for residential
to commercial and
industrial structures. With
good quality and
efficient services have
enabled the subject
to be one
of the leading
awning and canopy
manufacturers in the
market.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 5,000,000 divided into 50,000
shares of Bht. 100
each.
On
December 21, 1999, the
capital was increased
to Bht. 12,000,000 divided
into 120,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at April
30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sukit Suriyaprapadilok Nationality: Thai Address : 1769 New
Rd., Yannawa, Sathorn, Bangkok |
36,750 |
30.62 |
|
Ms. Chanida Suriyaprapadilok Nationality: Thai Address : 1769 New
Rd., Yannawa, Sathorn,
Bangkok |
36,750 |
30.62 |
|
Mr. Anan Suriyaprapadilok Nationality: Thai Address : 1769 New
Rd., Yannawa, Sathorn,
Bangkok |
31,750 |
26.46 |
|
Ms. Lalida Suriyaprapadilok Nationality: Thai Address : 1769 New
Rd., Yannawa, Sathorn,
Bangkok |
11,750 |
9.79 |
|
Mrs. Mayuree Suriyaprapadilok Nationality: Thai Address : 13 Soi
Padungmitr, New Rd.,
Yannawa, Sathorn, Bangkok |
1,000 |
|
|
Mrs. Jaithip Suriyaprapadilok Nationality: Thai Address : 1769 New
Rd., Yannawa, Sathorn,
Bangkok |
1,000 |
= 2.51 |
|
Mr. Sanguan Suriyaprapadilok Nationality: Thai Address : 1769 New
Rd., Yannawa, Sathorn,
Bangkok |
1,000 |
|
Total Shareholders : 7
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
120,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
120,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Phaiboon Paspanthong No. 4149
BALANCE
SHEET [BAHT]
The
latest financial figures published for December 31,
2013, 2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
10,070,415.64 |
8,358,235.12 |
1,651,680.05 |
|
Trade Accounts & Other
Receivable |
9,561,372.70 |
8,712,412.88 |
8,717,231.11 |
|
Inventories |
11,005,735.95 |
9,927,492.31 |
13,927,607.58 |
|
|
|
|
|
|
Total Current Assets
|
30,637,524.29 |
26,998,140.31 |
24,296,518.74 |
|
Cash at Bank pledged as a
Collateral |
2,324,146.92 |
2,274,606.00 |
- |
|
Fixed Assets |
22,214,145.03 |
14,181,296.88 |
8,630,022.01 |
|
Intangible Assets |
1.00 |
1.00 |
- |
|
Deferred Leasehold Right |
1,491,223.87 |
1,632,013.87 |
1,772,803.87 |
|
Total Assets |
56,667,041.11 |
45,086,058.06 |
34,699,344.62 |
LIABILITIES & SHAREHOLDERS' EQUITY
[BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts &
Other Payable |
14,326,761.54 |
10,347,533.66 |
7,840,698.82 |
|
Current Portion of
Hire-purchase Contract Payable |
103,233.77 |
179,307.54 |
233,645.93 |
|
Current Portion of
Long-term Loan from Financial Institutions |
325,849.50 |
3,393,227.37 |
- |
|
Accrued Income Tax |
1,371,596.94 |
1,390,904.89 |
1,386,494.38 |
|
Other Current Liabilities |
726,775.81 |
532,679.72 |
314,537.99 |
|
|
|
|
|
|
Total Current Liabilities |
16,854,217.56 |
15,843,653.18 |
9,775,377.12 |
|
Hire-purchase Contract Payable, Net |
77,425.41 |
180,659.13 |
359,966.62 |
|
Long-term Loan from Financial Institutions |
- |
330,449.34 |
4,000,000.00 |
|
Long-term Loan from Related Person |
2,274,606.00 |
2,274,606.00 |
- |
|
Employee Benefits Obligation |
1,960,373.01 |
1,631,066.08 |
1,089,013.24 |
|
Other Non-current Liabilities |
141,729.00 |
141,729.00 |
141,729.00 |
|
Total Liabilities |
21,308,350.98 |
20,402,162.73 |
15,366,085.98 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 120,000 shares |
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
|
|
|
|
|
Capital Paid |
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
Retained Earning -
Unappropriated |
23,358,690.13 |
12,683,895.33 |
7,333,258.64 |
|
Total Shareholders' Equity |
35,358,690.13 |
24,683,895.33 |
19,333,258.64 |
|
Total Liabilities &
Shareholders' Equity |
56,667,041.11 |
45,086,058.06 |
34,699,344.62 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales & Services
Income |
62,551,049.07 |
55,222,872.00 |
38,901,884.43 |
|
Other Income |
50,041.33 |
87,631.22 |
390,747.29 |
|
Total Revenues |
62,601,090.40 |
55,310,503.22 |
39,292,631.72 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
34,572,602.02 |
36,484,399.14 |
24,621,619.20 |
|
Selling Expenses |
3,736,345.03 |
2,168,378.80 |
2,113,741.84 |
|
Administrative Expenses |
10,845,941.50 |
9,469,735.54 |
8,188,194.21 |
|
Total Expenses |
49,154,888.55 |
48,122,513.48 |
34,923,555.25 |
|
|
|
|
|
|
Profit before Financial Cost
& Income Tax |
13,446,201.85 |
7,187,989.74 |
4,369,076.47 |
|
Financial Cost |
[15,366.34] |
[19,104.79] |
[74,653.68] |
|
|
|
|
|
|
Profit before Income Tax |
13,430,835.51 |
7,168,884.95 |
4,294,422.79 |
|
Income Tax |
[2,756,040.71] |
[1,818,248.26] |
[1,698,511.70] |
|
Net Profit / [Loss] |
10,674,794.80 |
5,350,636.69 |
2,595,911.09 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.82 |
1.70 |
2.49 |
|
QUICK RATIO |
TIMES |
1.16 |
1.08 |
1.06 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.82 |
3.89 |
4.51 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.10 |
1.22 |
1.12 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
116.19 |
99.32 |
206.47 |
|
INVENTORY TURNOVER |
TIMES |
3.14 |
3.68 |
1.77 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
55.79 |
57.59 |
81.79 |
|
RECEIVABLES TURNOVER |
TIMES |
6.54 |
6.34 |
4.46 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
151.25 |
103.52 |
116.23 |
|
CASH CONVERSION CYCLE |
DAYS |
20.73 |
53.38 |
172.02 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
55.27 |
66.07 |
63.29 |
|
SELLING & ADMINISTRATION |
% |
23.31 |
21.07 |
26.48 |
|
INTEREST |
% |
0.02 |
0.03 |
0.19 |
|
GROSS PROFIT MARGIN |
% |
44.81 |
34.09 |
37.71 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
21.50 |
13.02 |
11.23 |
|
NET PROFIT MARGIN |
% |
17.07 |
9.69 |
6.67 |
|
RETURN ON EQUITY |
% |
30.19 |
21.68 |
13.43 |
|
RETURN ON ASSET |
% |
18.84 |
11.87 |
7.48 |
|
EARNING PER SHARE |
BAHT |
88.96 |
44.59 |
21.63 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.38 |
0.45 |
0.44 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.60 |
0.83 |
0.79 |
|
TIME INTEREST EARNED |
TIMES |
875.04 |
376.24 |
58.52 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
13.27 |
41.95 |
|
|
OPERATING PROFIT |
% |
87.06 |
64.52 |
|
|
NET PROFIT |
% |
99.51 |
106.12 |
|
|
FIXED ASSETS |
% |
56.64 |
64.33 |
|
|
TOTAL ASSETS |
% |
25.69 |
29.93 |
|
ANNUAL
GROWTH: EXCELLENT
An annual sales growth is 13.27%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
44.81 |
Impressive |
Industrial
Average |
- |
|
Net Profit Margin |
17.07 |
Impressive |
Industrial
Average |
10.17 |
|
Return on Assets |
18.84 |
Impressive |
Industrial
Average |
12.31 |
|
Return on Equity |
30.19 |
Impressive |
Industrial
Average |
22.42 |
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 44.81%. 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 17.07%, 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
18.84%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profits 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 30.19%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
1.82 |
Impressive |
Industrial
Average |
0.72 |
|
Quick Ratio |
1.16 |
|
|
|
|
Cash Conversion Cycle |
20.73 |
|
|
|
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 1.82 times in 2013, increased from 1.7 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 higher, indicated that company
was an efficient operator in a dominant position within its industry.
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 1.16 times in 2013,
increased from 1.08 times, although excluding inventory so the company still
have good short-term financial strength.
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 21 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.38 |
Impressive |
Industrial
Average |
0.48 |
|
Debt to Equity Ratio |
0.60 |
Impressive |
Industrial
Average |
0.91 |
|
Times Interest Earned |
875.04 |
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 875.05 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 0.38 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.82 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.10 |
Satisfactory |
Industrial
Average |
1.21 |
|
Inventory Conversion Period |
116.19 |
|
|
|
|
Inventory Turnover |
3.14 |
Satisfactory |
Industrial
Average |
3.53 |
|
Receivables Conversion Period |
55.79 |
|
|
|
|
Receivables Turnover |
6.54 |
Impressive |
Industrial
Average |
6.44 |
|
Payables Conversion Period |
151.25 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.54 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 99 days at the
end of 2012 to 116 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 3.68 times in year 2012 to 3.14 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.1 times and 1.22
times in 2013 and 2012 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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.36 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.