MIRA INFORM REPORT
|
Report Date : |
11.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAHASITHI IMPORT & EXPORT [THAILAND] COMPANY LIMITED |
|
|
|
|
Registered Office : |
16 Sukhumvit
56 Road, Bangchak, Prakanong, Bangkok
10260 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.10.1987 |
|
|
|
|
Com. Reg. No.: |
0105530022404 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Distributor and Exporter of Food Chemicals. |
|
|
|
|
No. of Employees : |
22 |
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 – 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
SAHASITHI IMPORT
& EXPORT [THAILAND]
COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 16
SUKHUMVIT 56 ROAD,
BANGCHAK,
PRAKANONG, BANGKOK
10260, THAILAND
TELEPHONE : [66] 2331-5461-4,
2331-5453
FAX :
[66] 2331-4758
E-MAIL ADDRESS : sahasith@loxinfo.co.th
p_sahasith@yahoo.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1987
REGISTRATION NO. : 0105530022404
TAX ID NO. : 3101444636
CAPITAL REGISTERED
: BHT.
36,000,000
CAPITAL PAID-UP
: BHT.
36,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR
CLOSING DATE : DECEMBER
31
LEGAL STATUS : PRIVATE
LIMITED COMPANY
EXECUTIVE : MR.
PORNSIT JANEDITTAKARN, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 22
LINES OF
BUSINESS : FOOD
CHEMICALS
IMPORTER, DISTRIBUTOR
AND EXPORTER
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 October
1, 1987 as a
private limited company
under the name
style SAHASITHI IMPORT
& EXPORT [THAILAND]
COMPANY LIMITED by Thai groups, Janedittakarn family,
in order to
distribute various kinds of
food chemicals to
domestic and overseas
markets. It currently
employs 22 staff.
The
subject’s registered address
is 16 Sukhumvit
56 Rd., Bangchak,
Prakanong,
Bangkok
10260, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pornsit Janedittakarn |
|
Thai |
62 |
|
Mr. Pisit
Janedittakarn |
|
Thai |
60 |
AUTHORIZED
PERSON
One
of the above
directors can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Pornsit Janedittakarn is
the Managing Director.
He
is Thai nationality
with the age
of 62 years old.
Mr. Pisit Janedittakarn is
the Deputy Managing
Director and Sales &
Purchasing Manager.
He
is Thai nationality
with the age
of 60 years old.
BUSINESS
OPERATIONS
The
subject’s activities are
importer, exporter and
distributor of food chemicals,
food additives and
ingredients. Its products
are acid/alkali regulator, anti-oxidant, buffering
agent, calcium source,
coloring natural, coloring
synthetic, clouding agent,
emulsifier, enzyme,
flavoring, gel forming
agent, health food, quality
improver, polishing agent,
glazing agent for
confection, preservative, salts
of phosphoric acid,
sweetening agent, thickener,
stabilizer and etc.
IMPORT [COUNTRIES]
The products
are imported from Germany, United Kingdom, Japan, United States
of America, Malaysia, Argentina, Netherlands, Spain, Switzerland,
France, Korea, India, Bangladesh, Republic of
China, Singapore, Italy, Indonesia,
and Austria, as
well as purchasing
from local suppliers.
MAJOR SUPPLIERS
|
Anano
Enzyme Ltd. |
:
Japan |
|
Jungbunzlauer Austria
AG. |
:
Austria |
|
SD
BNI Co., Ltd. |
:
Republic of China |
|
Henry
Lamotte Food GmbH. |
:
Germany |
SALES
Its
products are supplied
to foods, confectionery, pharmaceutical and
animal feed industry.
90% of the
products is sold
locally to manufacturers
and wholesalers and
the remaining 10% is
re-exported to Republic
of China, Hong
Kong, Indonesia, Malaysia,
Vietnam and Laos.
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
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
on the credits
term of 60-90
days or T/T.
Exports
are against T/T.
BANKING
United Overseas
Bank [Thai] Public
Co., Ltd.
[Samyaek Branch : New
Rd., Samphantawong, Bangkok]
Bangkok Bank
Public Co., Ltd.
[Head Office : 333 Silom
Rd., Silom, Bangrak,
Bangkok]
EMPLOYMENT
The
subject employs 22
staff. [office and
sales staff]
LOCATION
DETAILS
The
premise is owned for operating
office and warehouse
in a 4
storey building of
1 row shop house
at the heading
address. It is
located in residential/commercial area.
COMMENT
The subject
is a leading distributor
of food chemicals,
food additives and
ingredients in Thailand.
With more than
30 years in
the industry, the
subject has expanded steadily with large customer
base throughout Thailand and Southeast
Asia region. Its customers
range from small
and medium food manufacturers
to multi-billions food
manufacturers and exporters.
With the
strong capability of
services and products quality,
the subject is
able to gain distinctive and
substantial trust from
its customers.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 4,000,000
divided into 40,000
shares of Bht. 100 each.
The
capital was increased
later as followings:
Bht. 8,000,000
on October 3,
1989
Bht. 14,000,000
on October 4,
1991
Bht. 24,000,000
on October 4,
1993
Bht. 36,000,000
on March 20,
1996
The
latest registered capital
was increased at
Bht. 36,000,000 divided into 360,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE : [as
of April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pisit Janedittakarn Nationality: Thai Address
: 374/8 Petchburi
Rd., Bangchak, Prakanong, Bangkok |
100,000 |
27.78 |
|
Mr. Pornsit
Janedittakarn Nationality: Thai Address
: 16 Sukhumvit
56 Rd., Bangchak, Prakanong, Bangkok |
67,014 |
18.61 |
|
Mrs. Supa
Janedittakarn Nationality: Thai Address
: 14 Sukhumvit
56 Rd., Bangchak, Prakanong, Bangkok |
64,800 |
18.00 |
|
Mrs.
Sirinee Janedittakarn Nationality: Thai Address
: 16 Sukhumvit
56 Rd., Bangchak,
Prakanong, Bangkok |
30,186 |
8.37 |
|
Mr. Akezyt Janedittakarn Nationality: Thai Address
: 16 Sukhumvit
56 Rd., Bangchak,
Prakanong, Bangkok |
20,000 |
5.56 |
|
Ms. Pornpun Janedittakarn Nationality: Thai Address
: 16 Sukhumvit
56 Rd., Bangchak,
Prakanong, Bangkok |
20,000 |
5.56 |
|
Ms.
Pornthip Janedittakarn Nationality: Thai Address
: 16 Sukhumvit
56 Rd., Bangchak,
Prakanong, Bangkok |
20,000 |
5.56 |
|
Mr. Supasit Janedittakarn Nationality: Thai Address
: 16 Sukhumvit 56
Rd., Bangchak, Prakanong, Bangkok |
20,000 |
5.56 |
|
Mrs. Wannipa
Janedittakarn Nationality: Thai Address
: 16 Sukhumvit
56 Rd., Bangchak,
Prakanong, Bangkok |
18,000 |
5.00 |
Total Shareholders
: 9
Share Structure
[as at April
30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
9 |
360,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
9 |
360,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.:
Mrs.
Sermsuk Supachewa No.
2721
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 |
22,119,374.20 |
12,717,040.04 |
18,899,393.89 |
|
Trade
Accounts & Other
Receivable |
19,975,643.03 |
23,333,754.16 |
14,875,805.76 |
|
Short-term
Lending |
10,000,000.00 |
13,700,000.00 |
5,000,000.00 |
|
Inventories |
24,949,716.75 |
33,294,116.23 |
26,719,243.78 |
|
|
|
|
|
|
Total Current
Assets |
77,044,733.98 |
83,044,910.43 |
65,494,443.43 |
|
|
|
|
|
|
Available
for Sale Investment |
33,465,778.00 |
29,891,540.00 |
42,807,409.50 |
|
Fixed Assets |
22,542,937.25 |
24,576,455.27 |
26,086,615.28 |
|
Total Assets
|
133,053,449.23 |
137,512,905.70 |
134,388,468.21 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade
Accounts & Other
Payable |
20,416,406.55 |
28,182,657.75 |
24,698,172.02 |
|
Accrued
Income Tax |
2,171,539.23 |
2,992,734.93 |
3,106,689.88 |
|
|
|
|
|
|
Total Current
Liabilities |
22,587,945.78 |
31,175,392.68 |
27,804,861.90 |
|
Long-term Loan |
- |
- |
5,800,000.00 |
|
Employee
Benefits Obligation |
1,729,975.65 |
1,598,562.94 |
1,444,186.31 |
|
Total Liabilities |
24,317,921.43 |
32,773,955.62 |
35,049,048.21 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 100 par value
authorized, issued and
fully paid share
capital 360,000 shares |
36,000,000.00 |
36,000,000.00 |
36,000,000.00 |
|
|
|
|
|
|
Capital
Paid |
36,000,000.00 |
36,000,000.00 |
36,000,000.00 |
|
Retained Earning
Appropriated for Statutory
Reserve |
3,600,000.00 |
3,600,000.00 |
3,600,000.00 |
|
Unappropriated [Deficit] |
65,729,241.26 |
59,992,092.54 |
57,135,321.00 |
|
Other
Components of Shareholders’ Equity |
3,406,286.54 |
5,146,857.54 |
2,604,099.00 |
|
Total Shareholders' Equity |
108,735,527.80 |
104,738,950.08 |
99,339,420.00 |
|
Total Liabilities & Shareholders' Equity |
133,053,449.23 |
137,512,905.70 |
134,388,468.21 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
163,983,315.20 |
167,103,658.92 |
140,383,041.72 |
|
Other
Income |
4,446,881.59 |
4,728,688.66 |
6,860,726.67 |
|
Total Revenues
|
168,430,196.79 |
171,832,347.58 |
147,243,768.39 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost
of Goods Sold
|
115,189,708.06 |
120,707,806.41 |
100,026,160.33 |
|
Selling Expenses |
13,044,592.45 |
13,016,183.54 |
10,312,747.52 |
|
Administrative Expenses |
19,613,012.72 |
20,053,100.07 |
18,688,972.54 |
|
Other
Expenses - Loss on Exchange Rate |
- |
- |
2,003,284.17 |
|
Total Expenses |
147,847,313.23 |
153,777,090.02 |
131,031,164.56 |
|
|
|
|
|
|
Profit / [Loss] before
Income Tax |
20,582,883.56 |
18,055,257.56 |
16,212,603.83 |
|
Income
Tax |
[4,045,734.84] |
[4,240,029.78] |
[4,680,400.73] |
|
Net Profit / [Loss] |
16,537,148.72 |
13,815,227.78 |
11,532,203.10 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.41 |
2.66 |
2.36 |
|
QUICK RATIO |
TIMES |
2.31 |
1.60 |
1.39 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.27 |
6.80 |
5.38 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.23 |
1.22 |
1.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
79.06 |
100.68 |
97.50 |
|
INVENTORY TURNOVER |
TIMES |
4.62 |
3.63 |
3.74 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
44.46 |
50.97 |
38.68 |
|
RECEIVABLES TURNOVER |
TIMES |
8.21 |
7.16 |
9.44 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
64.69 |
85.22 |
90.12 |
|
CASH CONVERSION CYCLE |
DAYS |
58.83 |
66.42 |
46.05 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
70.24 |
72.24 |
71.25 |
|
SELLING & ADMINISTRATION |
% |
19.92 |
19.79 |
20.66 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
32.47 |
30.59 |
33.63 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.55 |
10.80 |
11.55 |
|
NET PROFIT MARGIN |
% |
10.08 |
8.27 |
8.21 |
|
RETURN ON EQUITY |
% |
15.21 |
13.19 |
11.61 |
|
RETURN ON ASSET |
% |
12.43 |
10.05 |
8.58 |
|
EARNING PER SHARE |
BAHT |
45.94 |
38.38 |
32.03 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.18 |
0.24 |
0.26 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.22 |
0.31 |
0.35 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(1.87) |
19.03 |
|
|
OPERATING PROFIT |
% |
14.00 |
11.37 |
|
|
NET PROFIT |
% |
19.70 |
19.80 |
|
|
FIXED ASSETS |
% |
(8.27) |
(5.79) |
|
|
TOTAL ASSETS |
% |
(3.24) |
2.32 |
|
ANNUAL
GROWTH: ACCEPTABLE
An annual sales growth is -1.87%. Turnover has decreased from THB
PROFITABILITY
: IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
32.47 |
Satisfactory |
Industrial Average |
38.49 |
|
Net Profit Margin |
10.08 |
Impressive |
Industrial Average |
5.20 |
|
Return on Assets |
12.43 |
Impressive |
Industrial Average |
6.21 |
|
Return on Equity |
15.21 |
Impressive |
Industrial Average |
9.96 |
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
32.47%. 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. Net
Profit Margin ratio is 10.08%, 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 12.43%, 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 15.21%, 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
: IMPRESSIVE
LIQUIDITY
RATIO
|
Current Ratio |
3.41 |
Impressive |
Industrial Average |
1.38 |
|
Quick Ratio |
2.31 |
|
|
|
|
Cash Conversion Cycle |
58.83 |
|
|
|
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 3.41 times in 2013, increase from 2.66 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 2.31 times in 2013, increase from 1.6 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
59 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE
: EXCELLENT
LEVERAGE
RATIO
|
Debt Ratio |
0.18 |
Impressive |
Industrial Average |
0.34 |
|
Debt to Equity Ratio |
0.22 |
Impressive |
Industrial Average |
0.52 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a
company's assets which are financed through debt. The company's figure is 0.18
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 Downtrend
Times Interest Earned Stable
ACTIVITY
: IMPRESSIVE
ACTIVITY
RATIO
|
Fixed Assets Turnover |
7.27 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.23 |
Impressive |
Industrial Average |
1.19 |
|
Inventory Conversion Period |
79.06 |
|
|
|
|
Inventory Turnover |
4.62 |
Deteriorated |
Industrial Average |
11.32 |
|
Receivables Conversion Period |
44.46 |
|
|
|
|
Receivables Turnover |
8.21 |
Impressive |
Industrial Average |
5.46 |
|
Payables Conversion Period |
64.69 |
|
|
|
The company's Account Receivable Ratio is
calculated as 8.21 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 101 days
at the end of 2012 to 79 days at the end of 2013. This represents a positive
trend. And Inventory turnover has increased from 3.63 times in year 2012 to
4.62 times in year 2013.
The company's Total Asset Turnover is
calculated as 1.23 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 Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.16 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.77.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.