MIRA
INFORM REPORT
|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
SATAKE INTERNATIONAL BANGKOK
COMPANY LIMITED |
|
|
|
|
Registered Office : |
8th Floor, Mahatun Plaza,
888/84 Ploenchit Rd., Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
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|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.12.2005 |
|
|
|
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Com. Reg. No.: |
0135548011234 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· engaged in importing and distributing of power system equipment such as Bio-mass Power Generator and equipments for energy production, composting plants and biomass power generation plants, as well as after sale services. Subject also
exports rice processing
machine, such as
rice polishing, rice
milling machine, paddy
separator, milling separator
and spare parts |
|
|
|
|
No of Employees : |
36 |
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
SATAKE INTERNATIONAL
BANGKOK COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 8th FLOOR,
MAHATUN PLAZA BUILDING,
888/84 PLOENCHIT
ROAD,
LUMPINI, PATHUMWAN,
BANGKOK 10330,
THAILAND
TELEPHONE : [66] 2651-5845-7,
2651-5860-2
FAX :
[66] 2651-5848
E-MAIL
ADDRESS : ning_aimorn@satake-bangkok.com
aun_narumol@satake-bangkok.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2005
REGISTRATION
NO. : 0135548011234
TAX
ID NO. : 3032227667
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT. 29,500,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SHOICHI TANAKA,
JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 36
LINES
OF BUSINESS : ENERGY GENERATING SYSTEMS
IMPORTER, EXPORTER,
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 December 2,
2005 as a private
limited company under
the name style SATAKE INTERNATIONAL BANGKOK COMPANY LIMITED by Japanese
groups, with the
business objective to
supply product and
services for natural
power plant and related
business to both domestic
and overseas markets.
It currently employs
36 staff.
Subject
is a wholly
owned subsidiary of
Satake Corporation, Japan.
The subject’s registered address was 15th
Floor, Mahatun Plaza, 888/152 Ploenchit
Rd., Lumpini, Pathumwan,
Bangkok 10330.
On March 2,
2009, it was relocated to 8th Floor, Mahatun Plaza,
888/84 Ploenchit Rd., Lumpini, Pathumwan, Bangkok 10330, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mrs. Toshiko Satake |
|
Japanese |
55 |
|
Mr. Takeshi Fukumori |
|
Japanese |
54 |
|
Mr. Kazuyuki Kihara |
|
Japanese |
56 |
|
Mr. Shoichi Tanaka |
[x] |
Japanese |
55 |
|
Mr. Kazuhiko Taneki |
[x] |
Japanese |
- |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Shoichi Tanaka is
the Managing Director.
He is Japanese
nationality with the
age of 55
years old.
BUSINESS OPERATIONS
The subject’s core
business is engaged
in importing and
distributing of power
system equipment such
as Bio-mass Power Generator
and equipments for
energy production, composting
plants and biomass
power generation plants,
as well as
after sale services.
Subject also exports
rice processing machine,
such as rice
polishing, rice milling
machine, paddy separator,
milling separator and
spare parts.
MAJOR BRAND
“SATAKE”
PURCHASE
The products are purchased from suppliers both domestic and overseas, mainly in Japan.
MAJOR SUPPLIERS
Satake [Thailand] Co.,
Ltd. :
Thailand
Satake Corporation :
Japan
SALES [LOCAL]
The products are sold and serviced
locally to manufacturers, end-users and
government sectors.
EXPORT
Rice
processing machine [rice polishing,
rice milling, paddy
separator] is exported
to India, Pakistan,
Bangladesh, Philippines, Republic
of China, Taiwan,
Malaysia, Vietnam, Myanmar,
Laos, Indonesia, Cambodia
and Sri Lanka.
RELATED AND AFFILIATED COMPANY
Satake [Thailand] Co.,
Ltd.
Business Type :
Manufacturer and distributor
of rice processing
machine
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
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.
Exports are against
T/T.
BANKING
Sumitomo Mitsui Banking
Corporation
Bank of Tokyo-Mitsubishi UFJ
Ltd.
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs 36
staff.
LOCATION DETAILS
The premise
is rented for
administrative office at
the heading address. Premise is
located in a
prime commercial area.
COMMENT
The subject
was formed in 2005
in order to
distribute products and
equipments for producing
energy from biomass resources.
Biomass resource is the mass of living organisms. This may be forest, production of agricultural products and residues remaining in agriculture such as straw, rice husk, bagasse, palm shell, coconut shell or
organic wastes from agro-industrial plants
and etc., as well as chicken, pork, cow dung and
etc.
Besides
Bio-mass Power Generation, subject
also exports rice milling
related equipments to major rice grower
countries in Asia.
Though the country’s economy sluggish has
deterred spending from
various industries, but
its business in
general remains distinctive.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 6,000,000
divided into 60,000
shares of Bht. 100
each.
On
March 20, 2008,
the capital was
increased to Bht. 52,000,000 divided
into 520,000 shares of
Bht. 100 each.
On
March 2, 2009, the capital
was increased to Bht. 100,000,000 divided into
1,000,000 shares of
Bht. 100 each,
with a current
capital paid-up at
Bht. 29,500,000 or
940,000 shares of
Bht. 25 each
and 60,000 shares
of Bht. 100
each.
THE SHAREHOLDERS LISTED WERE
[as
at April 25,
2014] at Bht.
29,500,000 of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
Satake Corporation Nationality: Japanese Address : 7-2
Sotokanda, 4-Chome,
Chiyoda-ku, Tokyo, Japan |
999,986 |
100.00 |
|
Mrs. Toshiko Satake Nationality: Japanese Address : 3-31-14
Sannou, Ota-ku, Tokyo,
Japan |
10 |
- |
|
Mr. Takeshi Fukumori Nationality: Japanese Address : 4-28-9
Nakano, Arki-ku, Hiroshima, Japan |
1 |
- |
|
Mr. Kazuyuki Kihara Nationality: Japanese Address : 4-14-801
Sumiyoshi-cho, Naka-ku,
Hiroshima, Japan |
1 |
- |
|
Mr. Kazuhiko Taneki Nationality: Japanese Address : 888/84
Ploenchit Rd., Lumpini, Pathumwan, Bangkok |
1 |
- |
|
Mr. Shoichi Tanaka Nationality: Japanese Address : 888/84
Ploenchit Rd., Lumpini,
Pathumwan, Bangkok |
1 |
- |
Total Shareholders : 6
Share Structure
[as at April
25, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Japanese |
6 |
1,000,000 |
100.00 |
|
Total |
6 |
1,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO
Ms. Kanda Kanchanavasutha No.
7812
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalent |
320,082,100.51 |
230,921,902.36 |
183,960,058 |
|
Trade Accounts Receivable |
540,934,529.09 |
353,153,918.08 |
103,566,538 |
|
Receivable -Related Company |
- |
- |
17,420 |
|
Inventories |
39,831,740.00 |
65,636,715.00 |
15,718,594 |
|
Other Current Assets
|
19,762,779.36 |
11,160,629.92 |
10,718,197 |
|
Total Current Assets
|
920,611,148.96 |
660,873,165.36 |
313,980,807 |
|
Investment in
Joint-Venture |
3,267,780.00 |
3,048,570.00 |
3,155,050 |
|
Fixed Assets |
5,669,601.30 |
2,820,381.39 |
4,687,716 |
|
Other Non-current Assets |
1,230,308.42 |
1,128,855.45 |
1,140,622 |
|
Total Assets |
930,786,838.68 |
667,870,972.20 |
322,964,195 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
266,015,888.57 |
159,798,559.81 |
10,922,569 |
|
Accrued Expenses |
- |
- |
24,121,425 |
|
Short-term Loans |
50,818,520.00 |
50,000,000.00 |
50,000,000 |
|
Accrued Income Tax |
26,522,013.75 |
22,470,746.02 |
- |
|
Accrued Dividend |
- |
- |
7,670,000 |
|
Other Current Liabilities |
3,295,064.00 |
- |
893,760 |
|
Total Current Liabilities |
346,651,486.32 |
232,269,305.83 |
93,607,754 |
|
Financial Lease Contract Liabilities, Net of Current Portion |
1,271,070.00 |
- |
- |
|
Provision for Employee Benefits |
4,932,582.40 |
4,932,582.40 |
- |
|
Total Liabilities |
352,855,138.72 |
237,201,888.23 |
93,607,754 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized &
issued share capital 1,000,000 shares |
100,000,000.00 |
100,000,000.00 |
100,000,000 |
|
Capital Paid |
29,500,000.00 |
29,500,000.00 |
29,500,000 |
|
Statutory Reserve |
5,844,842.21 |
5,146,158.00 |
4,919,474 |
|
Retained Earning -
Unappropriated |
542,586,857.75 |
396,022,925.97 |
194,936,967 |
|
Total Shareholders' Equity |
577,931,699.96 |
430,669,083.97 |
229,356,441 |
|
Total Liabilities & Shareholders' Equity |
930,786,838.68 |
667,870,972.20 |
322,964,195 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales & Services
Income |
1,194,074,303.56 |
1,160,673,780.11 |
709,346,834 |
|
Other Income |
33,300,557.95 |
76,760,313.75 |
24,958,582 |
|
Total Revenues |
1,227,374,861.51 |
1,237,434,093.86 |
734,305,416 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Services |
794,702,999.50 |
745,320,565.81 |
476,383,354 |
|
Selling Expenses |
145,355,421.68 |
140,600,221.52 |
85,914,144 |
|
Administrative Expenses |
69,339,024.06 |
83,043,856.21 |
121,424,933 |
|
Total Expenses |
1,009,397,445.24 |
968,964,643.54 |
683,722,431 |
|
Profit before Financial
Costs & Income Tax |
217,977,416.27 |
238,469,750.32 |
50,582,985 |
|
Financial Costs |
[15,357,504.82] |
[12,684,182.63] |
[7,152,610] |
|
Profit before Income
Tax |
202,619,911.45 |
255,785,567.69 |
43,430,375 |
|
Income Tax |
[42,082,295.46] |
[50,165,923.40] |
[32,283,844] |
|
Net Profit / [Loss] |
160,537,615.99 |
205,619,644.29 |
11,146,531 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.66 |
2.85 |
3.35 |
|
QUICK RATIO |
TIMES |
2.48 |
2.51 |
3.07 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
210.61 |
411.53 |
151.32 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.28 |
1.74 |
2.20 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
18.29 |
32.14 |
12.04 |
|
INVENTORY TURNOVER |
TIMES |
19.95 |
11.36 |
30.31 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
165.35 |
111.06 |
53.29 |
|
RECEIVABLES TURNOVER |
TIMES |
2.21 |
3.29 |
6.85 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
122.18 |
78.26 |
8.37 |
|
CASH CONVERSION CYCLE |
DAYS |
61.47 |
64.94 |
56.97 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
66.55 |
64.21 |
67.16 |
|
SELLING & ADMINISTRATION |
% |
17.98 |
19.27 |
29.23 |
|
INTEREST |
% |
1.29 |
1.09 |
1.01 |
|
GROSS PROFIT MARGIN |
% |
36.23 |
42.40 |
36.36 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
18.25 |
23.13 |
7.13 |
|
NET PROFIT MARGIN |
% |
13.44 |
17.72 |
1.57 |
|
RETURN ON EQUITY |
% |
27.78 |
47.74 |
4.86 |
|
RETURN ON ASSET |
% |
17.25 |
30.79 |
3.45 |
|
EARNING PER SHARE |
BAHT |
544.20 |
697.02 |
37.78 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.38 |
0.36 |
0.29 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.61 |
0.55 |
0.41 |
|
TIME INTEREST EARNED |
TIMES |
14.19 |
21.17 |
7.07 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
2.88 |
63.63 |
|
|
OPERATING PROFIT |
% |
(18.81) |
430.75 |
|
|
NET PROFIT |
% |
(21.92) |
1,744.70 |
|
|
FIXED ASSETS |
% |
101.02 |
(39.83) |
|
|
TOTAL ASSETS |
% |
39.37 |
106.79 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 2.88%.
Turnover has increased from THB 1,160,673,780.11 in 2012 to THB
1,194,074,303.56 in 2013. While net profit has decreased from THB 205,619,644.29
in 2012 to THB 160,537,615.99 in 2013. And total assets has increased from THB
667,870,972.20 in 2012 to THB 930,786,838.68 in 2013.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
36.23 |
Acceptable |
Industrial Average |
58.89 |
|
Net Profit Margin |
13.44 |
Impressive |
Industrial Average |
6.52 |
|
Return on Assets |
17.25 |
Impressive |
Industrial Average |
7.30 |
|
Return on Equity |
27.78 |
Impressive |
Industrial Average |
15.88 |
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 36.23%. 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 13.44%, higher 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
17.25%, 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 27.78%, 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 |
2.66 |
Impressive |
Industrial Average |
1.88 |
|
Quick Ratio |
2.48 |
|
|
|
|
Cash Conversion Cycle |
61.47 |
|
|
|
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 2.66 times in 2013, decreased from 2.85 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 2.48 times in 2013,
decreased from 2.51 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 62 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.38 |
Impressive |
Industrial Average |
0.81 |
|
Debt to Equity Ratio |
0.61 |
Impressive |
Industrial Average |
2.36 |
|
Times Interest Earned |
14.19 |
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 14.2 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 |
210.61 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.28 |
Satisfactory |
Industrial Average |
1.66 |
|
Inventory Conversion Period |
18.29 |
|
|
|
|
Inventory Turnover |
19.95 |
Impressive |
Industrial Average |
4.28 |
|
Receivables Conversion Period |
165.35 |
|
|
|
|
Receivables Turnover |
2.21 |
Acceptable |
Industrial Average |
3.78 |
|
Payables Conversion Period |
122.18 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.21 and 3.29 in
2013 and 2012 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2013
decreased from 2012. This would suggest the company had deteriorated in the
management of its debt collections.
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 32 days at the
end of 2012 to 18 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 11.36 times in year 2012 to 19.95
times in year 2013.
The company's Total Asset Turnover is calculated as 1.28 times and 1.74
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
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.