MIRA
INFORM REPORT
|
Report Date : |
06.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
CAPITAL TRICOT COMPANY LIMITED |
|
|
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Registered Office : |
23/8 Moo 2, |
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Country : |
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|
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
30.12.1991 |
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Com. Reg. No.: |
0735534001538 [Former :
Nor. Thor. 751] |
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Legal Form : |
Private Limited Company |
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|
Line of Business : |
Manufacturer, Distributor &
Exporter of Fabric & Lace
|
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|
|
No. of Employees |
250 |
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 |
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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
CAPITAL TRICOT
COMPANY LIMITED
SUMMARY
BUSINESS ADDRESS : 23/8 MOO 2, PETCHKASEM
ROAD,
KM. 28,
OMYAI, SAMPRAN,
NAKORNPATHOM 73160,
THAILAND
TELEPHONE : [66] 2420-1216-7,
2420-2783-4
FAX : [66] 2420-2775,
2840-3840
E-MAIL ADDRESS : sales@capitaltricot.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1991
REGISTRATION NO. : 0735534001538 [Former
: NOR. THOR. 751]
TAX ID NO. : 3701007651
CAPITAL REGISTERED : BHT.
200,000,000
CAPITAL PAID-UP : BHT.
200,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : NOVEMBER 30
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
CHAISAK SAJJAPORAMETH, THAI
MANAGING DIRECTOR
& FACTORY MANAGER
NO. OF STAFF : 250
LINES OF BUSINESS : FABRIC &
LACE
MANUFACTURER, DISTRIBUTOR
& 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 December 30, 1991 as
a private limited
company under the name
style CAPITAL TRICOT COMPANY LIMITED
by Thai group, Sajjaporameth family, with
the business objective
to manufacture and distribute fabrics
and laces for
textile industry both
domestic and international
markets. It currently
employs approximately 250
staff.
The subject is one
of the most well-known
Warp-Knitted manufacturers in
Thailand, providing Raschel
Laces, Tricot and
Jacquard Lace with
dyeing and finishing
services.
The subject’s registered address
is 23/8 Moo 2, Petchkasem Rd., Km.
28, Omyai, Sampran, Nakornpathom
73160, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Chaisak Sajjaporameth |
|
Thai |
66 |
|
Mrs. Kesinee Sajjaporameth |
|
Thai |
67 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Chaisak Sajjaporameth
is the Managing
Director & Factory Manager.
He is Thai
nationality with the
age of 66
years old.
Mrs. Kesinee Sajjaporameth
is the Deputy
Managing Director.
She is Thai
nationality with the
age of 67 years old.
Mr. Voradej Sajjaporameth
is the Export
Manager.
He is Thai nationality.
Mr. Vorawut Sajjavorameth
is the Marketing
and Sales Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
various kinds of fabrics and
laces including Jacquard
Fabric, Knitted Fabric,
Lace, Tricot Mesh Fabric,
Tricot Brush, Raschel
Lace, Lining Lace, Cutting
Lace and etc.
The subject also provides
dyeing and finishing
services.
PRODUCTION CAPACITY
Fabric & Lace : Approximately
2.0 million yards/month
Dyeing & Finishing
Services :
Approximately 2.5 million
yards/month
The products have been
approved by international
brand name manufacturers, such
as “WACOAL”, “SARA
LEE” “TRIUMPH” and
“MARKS & SPENCER”.
PURCHASE
70% of raw material is
purchased from local
suppliers, the remaining 30%
and machinery are
imported from Germany, Japan,
Republic of China,
India, Taiwan, France
and United States
of America.
SALES [LOCAL]
50% of the
products is sold
locally by wholesale
to end-users.
EXPORT
50% of the
products is exported
to United States of
America, United Kingdom,
Republic of China,
France, Italy, Hong Kong,
Japan, Vietnam, Taiwan,
India, Indonesia and
Malaysia.
MAJOR CUSTOMERS
Capital Tricot [Hong
Kong] Company Limited : Hong Kong
WYLA Inc.
: U.S.A.
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
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
L/C at sight
or T/T.
Export are against
L/C at sight or
T/T.
BANKING
TMB Bank Public
Co., Ltd.
[Omyai Branch :
Petchkasem Rd., Omyai,
Sampran, Nakornpathom]
Kasikornbank Public Co., Ltd.
[Omyai Branch :
Petchkasem Rd., Omyai,
Sampran, Nakornpathom]
EMPLOYMENT
The subject employs
approximately 250 staff [office
staff and factory
workers].
LOCATION DETAILS
The premise is
owned for administrative office,
factory and warehouse
at the heading
address. Premise is
located in industrial area.
Branch:
Sales and showroom
are located on
the 8th Floor, Kamolsukosol
Bldg., 317 Silom Rd.,
Silom, Bangrak, Bangkok
10500.
COMMENT
With more than
20 years of
specialized experience in
textile industry, the
subject is one of
the most well-known
textile manufacturers in
Thailand. It perpetually
develops itself as the unique
quality provider of
Tricot, Raschel Laces
and Jacquard Lace
with high quality
dyeing and finishing services. Its
quality standard of the products
have been well
accepted by the
international leading brand name
manufacturers.
The subject has
attained a strong
business over years’
efforts.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 50,000,000 divided into
5,000,000 shares of
Bht. 10 each.
On September 4,
1995, the capital
was increased to
Bht. 200,000,000 divided
into
20,000,000 shares of
Bht. 10 each
with fully paid.
THE SHAREHOLDERS LISTED WERE
[as at March
31, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Chaisak Sajjaporameth Nationality: Thai Address : 23/8
Moo 2, Petchkasem Rd., Omyai,
Sampran, Nakornpathom 73160 |
12,000,000 |
60.00 |
|
Mrs. Kesinee Sajjaporameth Nationality: Thai Address : 35
Moo 15, Petchkasem Rd., Bangwha,
Pasicharoen, Bangkok 10160 |
4,000,000 |
20.00 |
|
Mr. Voradej Sajjaporameth Nationality: Thai Address : 23/8
Moo 2, Petchkasem Rd., Omyai,
Sampran, Nakornpathom 73160 |
2,000,000 |
10.00 |
|
Mr. Vorawut Sajjaporameth Nationality: Thai Address : 35
Moo 15, Petchkasem Rd.,
Bangwha, P
asicharoen, Bangkok 10160 |
2,000,000 |
10.00 |
Total Shareholders : 4
Share Structure
[as at March 31,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
20,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
20,000,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mrs. Chaveewan Laosamathikul
No. 4706
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
8,258,936.07 |
4,871,743.13 |
7,241,850.83 |
|
Trade Accounts &
Other Receivable |
63,415,307.88 |
53,266,762.09 |
64,047,463.51 |
|
Inventories |
50,252,179.90 |
55,071,397.14 |
59,358,189.03 |
|
Other Current Assets
|
13,586,874.43 |
9,146,254.75 |
5,160,518.29 |
|
|
|
|
|
|
Total Current Assets
|
135,513,298.28 |
122,356,157.11 |
135,808,021.66 |
|
|
|
|
|
|
Fixed Assets |
183,645,287.17 |
181,451,084.91 |
181,979,774.92 |
|
Other Non - current Assets |
4,672.90 |
4,672.90 |
4,672.90 |
|
Total Assets |
319,163,258.35 |
303,811,914.92 |
317,792,469.48 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
42,163,963.94 |
41,713,556.81 |
66,568,874.66 |
|
Trade Accounts & Other
Payable |
28,086,172.70 |
18,434,593.34 |
30,410,404.01 |
|
Current Portion of
Long-term Loans |
14,400,000.00 |
14,400,000.00 |
10,008,000.00 |
|
Short-term Loan from
Related Person |
66,799,458.15 |
55,169,475.84 |
40,165,487.33 |
|
Accrued Income Tax |
448,192.29 |
456,571.66 |
371,631.96 |
|
Other Current Liabilities |
86,111.81 |
75,449.95 |
75,674.00 |
|
|
|
|
|
|
Total Current Liabilities |
151,983,898.89 |
130,249,647.60 |
147,600,071.96 |
|
Long-term Loans, Net of Current Portion |
30,654,748.24 |
39,558,00.96 |
38,308,000.00 |
|
Total Liabilities |
182,638,647.13 |
169,807,648.56 |
185,908,071.96 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 20,000,000 shares |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
|
|
|
|
|
Capital Paid |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained Earning Unappropriated |
[63,475,388.78] |
[65,995,733.64] |
[68,115,602.48] |
|
Total Shareholders' Equity |
136,524,611.22 |
134,004,266.36 |
131,884,397.52 |
|
Total Liabilities & Shareholders' Equity |
319,163,258.35 |
303,811,914.92 |
317,792,469.48 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
338,503,192.49 |
338,807,332.16 |
301,648,426.50 |
|
Service Income |
4,418,031.85 |
4,499,678.59 |
4,243,425.42 |
|
Other Income |
1,956,070.68 |
2,247,315.57 |
1,033,716.37 |
|
Total Revenues |
344,877,295.05 |
345,554,326.32 |
306,925,568.29 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
317,069,718.44 |
319,657,095.63 |
278,924,992.21 |
|
Cost of Services |
3,534,425.48 |
3,599,742.87 |
3,394,740.34 |
|
Selling Expenses |
10,939,596.29 |
7,888,927.90 |
9,409,672.12 |
|
Administrative Expenses |
3,897,672.26 |
4,135,986.82 |
4,822,132.36 |
|
Total Expenses |
335,441,412.47 |
335,281,753.22 |
296,551,537.03 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
9,435,882.55 |
10,272,573.10 |
10,374,031.26 |
|
Financial Costs |
[6,003,025.31] |
[7,232,025.15] |
[7,666,080.15] |
|
Profit / [Loss] before Income
Tax |
3,432,857.24 |
3,040,547.95 |
2,707,951.11 |
|
Income Tax |
[912,512.38] |
[920,679.11] |
[903,780.50] |
|
|
|
|
|
|
Net Profit / [Loss] |
2,520,344.86 |
2,119,868.84 |
1,804,170.61 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.89 |
0.94 |
0.92 |
|
QUICK RATIO |
TIMES |
0.47 |
0.45 |
0.48 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.87 |
1.89 |
1.68 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.07 |
1.13 |
0.96 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
57.21 |
62.18 |
76.74 |
|
INVENTORY TURNOVER |
TIMES |
6.38 |
5.87 |
4.76 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
67.50 |
56.63 |
76.42 |
|
RECEIVABLES TURNOVER |
TIMES |
5.41 |
6.45 |
4.78 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
31.98 |
20.82 |
39.32 |
|
CASH CONVERSION CYCLE |
DAYS |
92.73 |
98.00 |
113.85 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
93.49 |
94.16 |
92.29 |
|
SELLING & ADMINISTRATION |
% |
4.33 |
3.50 |
4.65 |
|
INTEREST |
% |
1.75 |
2.11 |
2.51 |
|
GROSS PROFIT MARGIN |
% |
7.08 |
6.49 |
8.04 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.75 |
2.99 |
3.39 |
|
NET PROFIT MARGIN |
% |
0.73 |
0.62 |
0.59 |
|
RETURN ON EQUITY |
% |
1.85 |
1.58 |
1.37 |
|
RETURN ON ASSET |
% |
0.79 |
0.70 |
0.57 |
|
EARNING PER SHARE |
BAHT |
1.26 |
1.06 |
0.90 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.57 |
0.56 |
0.58 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.34 |
1.27 |
1.41 |
|
TIME INTEREST EARNED |
TIMES |
1.57 |
1.42 |
1.35 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.11) |
12.23 |
|
|
OPERATING PROFIT |
% |
(8.14) |
(0.98) |
|
|
NET PROFIT |
% |
18.89 |
17.50 |
|
|
FIXED ASSETS |
% |
1.21 |
(0.29) |
|
|
TOTAL ASSETS |
% |
5.05 |
(4.40) |
|
ANNUAL GROWTH : SATISFACTORY
An annual sales growth is -0.11%. Turnover has decreased from THB
PROFITABILITY : IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.08 |
Deteriorated |
Industrial Average |
18.99 |
|
Net Profit Margin |
0.73 |
Impressive |
Industrial Average |
(1.15) |
|
Return on Assets |
0.79 |
Impressive |
Industrial Average |
(0.95) |
|
Return on Equity |
1.85 |
Impressive |
Industrial Average |
(2.35) |
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 7.08%. 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 0.73%,
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 0.79%, 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 1.85%, 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.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.89 |
Risky |
Industrial Average |
1.23 |
|
Quick Ratio |
0.47 |
|
|
|
|
Cash Conversion Cycle |
92.73 |
|
|
|
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 0.89 times in 2013, decreased from 0.94 times, then the company may
have problems meeting its short-term obligations. 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 0.47 times in 2013,
increased from 0.45 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 93 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE : IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.57 |
Impressive |
Industrial Average |
0.67 |
|
Debt to Equity Ratio |
1.34 |
Satisfactory |
Industrial Average |
2.02 |
|
Times Interest Earned |
1.57 |
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 1.58 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 0.57 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 : EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.87 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.07 |
Impressive |
Industrial Average |
0.83 |
|
Inventory Conversion Period |
57.21 |
|
|
|
|
Inventory Turnover |
6.38 |
Impressive |
Industrial Average |
2.22 |
|
Receivables Conversion Period |
67.50 |
|
|
|
|
Receivables Turnover |
5.41 |
Impressive |
Industrial Average |
3.67 |
|
Payables Conversion Period |
31.98 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.41 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 62 days at the
end of 2012 to 57 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 5.87 times in year 2012 to 6.38 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.07 times and 1.13
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 Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.44 |
|
UK Pound |
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.