MIRA
INFORM REPORT
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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CLICK AUTO DEAL
COMPANY LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
12.05.2010 |
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Com. Reg. No.: |
0105553059983 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and
distributor of seafood products |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Yet to start its activity |
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Payment Behaviour : |
Unknown |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Thailand |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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 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
CLICK
AUTO DEAL COMPANY
LIMITED
SUMMARY
BUSINESS
ADDRESS : 123/7
NONSEE ROAD, CHONGNONSI,
YANNAWA, BANGKOK
10120, THAILAND
TELEPHONE : [66] 2681-0102
FAX :
[66] 2681-0106
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2010
REGISTRATION
NO. : 0105553059983
TAX
ID NO. : 3033921281
CAPITAL REGISTERED : BHT. 1,000,000
CAPITAL PAID-UP : BHT.
1,000,000
SHAREHOLDER’S PROPORTION : THAI : 97.00%
INDONESIAN :
3.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. THANONGSAK TANGSAWATDIRAT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : -
LINES
OF BUSINESS : SEAFOOD PRODUCTS
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING
TREND : -
PRESENT
SITUATION : INACTIVE
REPUTATION : -
MANAGEMENT
STANDARD : -
HISTORY
The
subject was established
on May 12, 2010
as a private
limited company under
the originally registered name “T & M
Global Food Co.,
Ltd.”, by Thai
and Indonesian groups. On
August 20, 2013,
its registered name
was changed to
CLICK AUTO DEAL
COMPANY LIMITED. The
business objective is
an importer and
distributor various kinds
of seafood products
to domestic market.
However, it has
not started any
business activity.
The
subject’s registered address
is 123/7 Nonsee Road,
Chongnonsi, Yannawa, Bangkok 10120,
and this is
the subject’s current
operation address.
THE BOARD OF DIRECTOR
|
Name |
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Nationality |
Age |
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Mr. Thanongsak Tangsawatdirat |
|
Thai |
29 |
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Thanongsak Tangsawatdirat is
the Managing Director.
He is Thai
nationality with the
age of 29 years
old.
REMARK
CREDIT
IS NOT RECOMMENDED.
COMMENT
Since
the subject was established
in 2010, the
subject has not yet
started its activity.
Therefore,
any business engagement
or credit requested
is not recommended.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000 shares
of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Thanongsak Tangsawatdirak Nationality: Thai Address : 988/17
Rama 3 Road, Bangpongpang,
Yannawa, Bangkok |
9,500 |
95.00 |
|
Ms. Melyana Nationality: Indonesian Address : 988/17
Rama 3 Road, Bangpongpang,
Yannawa, Bangkok |
300 |
3.00 |
|
Ms. Kwanjai Saechung Nationality: Thai Address : 236/8
Rama 4 Road, Klongtoey,
|
200 |
2.00 |
Total Shareholders : 3
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
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Thai |
2 |
9,700 |
97.00 |
|
Foreign - Indonesian |
1 |
300 |
3.00 |
|
Total |
3 |
10,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mrs. Hattaya Tanmanatham No. 5809
BALANCE SHEET [BAHT]
The latest financial figures published
as at December 31,
2013, 2012 &
2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
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Cash and Cash Equivalents |
254,514.72 |
78,289.84 |
79,985.18 |
|
Trade Accounts & Other
Receivable |
44,652.61 |
0.05 |
- |
|
|
|
|
|
|
Total Current Assets
|
299,167.33 |
78,289.89 |
79,985.18 |
|
|
|
|
|
|
Fixed Assets |
661,925.47 |
- |
- |
|
Long-term Loans |
- |
900,000.00 |
900,000.00 |
|
Total Assets |
961,092.80 |
978,289.89 |
979,985.18 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
2,000.00 |
1,000.00 |
1,000.00 |
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Total Current Liabilities |
2,000.00 |
1,000.00 |
1,000.00 |
|
Total Liabilities |
2,000.00 |
1,000.00 |
1,000.00 |
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Shareholders' Equity |
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Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
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Capital Paid |
1,000,000.00 |
1,000,000.00 |
1,000,000.00 |
|
Retained Earning Unappropriated |
[40,907.20] |
[22,710.11] |
[21,014.82] |
|
Total Shareholders' Equity |
959,092.80 |
977,289.89 |
978,985.18 |
|
Total Liabilities &
Shareholders' Equity |
961,092.80 |
978,289.89 |
979,985.18 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
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Other Income |
0.4 |
4.71 |
331.22 |
|
Total Revenues |
0.4 |
4.71 |
331.22 |
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Expenses |
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Depreciation |
15,761.25 |
- |
- |
|
Other Expenses |
2,436.24 |
1,700.00 |
1,400.04 |
|
Total Expenses |
18,197.49 |
1,700.00 |
1,400.04 |
|
Profit / [Loss] before Income
Tax |
[18,197.09] |
[1,695.29] |
[1,068.82] |
|
Income Tax |
- |
- |
- |
|
|
|
|
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|
Net Profit / [Loss] |
[18,197.09] |
[1,695.29] |
[1,068.82] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
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LIQUIDITY RATIO |
|
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CURRENT RATIO |
TIMES |
149.58 |
78.29 |
79.99 |
|
QUICK RATIO |
TIMES |
149.58 |
78.29 |
79.99 |
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ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
- |
- |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
- |
- |
- |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
RECEIVABLES TURNOVER |
TIMES |
- |
- |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
- |
- |
|
CASH CONVERSION CYCLE |
DAYS |
- |
- |
- |
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PROFITABILITY
RATIO |
|
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|
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|
COST OF GOODS SOLD |
% |
- |
- |
- |
|
SELLING & ADMINISTRATION |
% |
- |
- |
- |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
- |
- |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
- |
- |
|
NET PROFIT MARGIN |
% |
- |
- |
- |
|
RETURN ON EQUITY |
% |
(1.90) |
(0.17) |
(0.11) |
|
RETURN ON ASSET |
% |
(1.89) |
(0.17) |
(0.11) |
|
EARNING PER SHARE |
BAHT |
(1.82) |
(0.17) |
(0.11) |
|
|
|
|
|
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LEVERAGE RATIO |
|
|
|
|
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DEBT RATIO |
TIMES |
0.00 |
0.00 |
0.00 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.00 |
0.00 |
0.00 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
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ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
- |
- |
|
|
OPERATING PROFIT |
% |
973.39 |
58.61 |
|
|
NET PROFIT |
% |
(973.39) |
(58.61) |
|
|
FIXED ASSETS |
% |
- |
- |
|
|
TOTAL ASSETS |
% |
(1.76) |
(0.17) |
|
ANNUAL GROWTH :
RISKY
Net profit has decreased from THB
PROFITABILITY : RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial
Average |
51.68 |
|
Net Profit Margin |
- |
|
Industrial
Average |
1.16 |
|
Return on Assets |
(1.89) |
Deteriorated |
Industrial
Average |
3.35 |
|
Return on Equity |
(1.90) |
Deteriorated |
Industrial
Average |
160.33 |
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 -1.89%.
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 -1.9%.
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 |
149.58 |
Impressive |
Industrial
Average |
1.11 |
|
Quick Ratio |
149.58 |
|
|
|
|
Cash Conversion Cycle |
- |
|
|
|
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 149.58 times in 2013, increased from 78.29 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 149.58 times in 2013,
increased from 78.29 times, although excluding inventory so the company still
have good short-term financial strength.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.00 |
Impressive |
Industrial
Average |
1.27 |
|
Debt to Equity Ratio |
0.00 |
Impressive |
Industrial
Average |
(9.88) |
|
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 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 : RISKY
ACTIVITY RATIO
|
Fixed Assets Turnover |
- |
|
Industrial
Average |
- |
|
Total Assets Turnover |
- |
|
Industrial
Average |
4.81 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial
Average |
13.23 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial
Average |
5.00 |
|
Payables Conversion Period |
- |
|
|
|
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.60.61 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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.