MIRA
INFORM REPORT
|
Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SCG PERFORMANCE CHEMICALS CO., LTD. |
|
|
|
|
Registered Office : |
1st Floor 26
Building, 1
Siam Cement Road, T. Bangsue, A. Bangsue,
Bangkok 10800, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.07.2008 |
|
|
|
|
Com. Reg. No.: |
0105551069531 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in
distributing of petrochemical specialized in polyolefin
products, such as Polyethylene
[PE], Polypropylene [PP], High
Density Polyethylene [HDPE],
Medium Density Polyethylene [MDPE], Low
Density Polyethylene
[LDPE], Linear Low
Density Polyethylene [LLDPE],
as well as
Masterbatch and Polyethylene Wax
for various industries,
such as plastic
& rubber products, flexible
packaging, wires & cables, medical
equipment and automotive
parts industries. |
|
|
|
|
No. of Employees |
100 |
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
SCG PERFORMANCE
CHEMICALS CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 1st FLOOR
26 BUILDING, 1
SIAM CEMENT ROAD,
T.
BANGSUE, A. BANGSUE,
BANGKOK 10800,
THAILAND
TELEPHONE : [66] 2586-4115-7,
2586-1118
FAX : [66] 2586-5488,
2586-3676
E-MAIL
ADDRESS : scgchemical@scg.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2008
REGISTRATION
NO. : 0105551069531
TAX
ID NO. : 3033154689
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT.
2,500,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. YUTTANA JIAMTRAGAN,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 100
LINES
OF BUSINESS : PETROCHEMICAL [OLEFINS]
EXPORTER AND
DISTRIBUTOR
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 July 1,
2008 as a
private limited company
under the name
SCG PERFORMANCE CHEMICALS
CO., LTD., by Thai
groups. Its business
is a distributor
and exporter of
olefins.
On
September 29, 2009,
the subject has
been ordered by
The Administrative Court for
an interim injunction
of the plant
construction, due to
the community protection
for health and
environment purposes in
the Mab Ta
Phut Industrial Estate
area. However, its
business currently distributes
petrochemical [olefins]
products. It employs approximately
100 staff.
The
subject is a
wholly owned subsidiary
of SCG Chemicals
Co., Ltd., which
is a subsidiary
of The Siam
Cement Public Company
Limited, and are
also member of
the SCG Group [former : Siam Cement
Group] of companies.
The
subject’s registered address
is 1st Flr.,
26 Building, 1
Siam Cement Rd.,
Bangsue, Bangkok 10800,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Cholanat Yanaranop |
|
Thai |
54 |
|
Mr. Yuttana Jiamtragan |
|
Thai |
51 |
|
Mr. Sakchai Patipanpreechavudhi |
|
Thai |
46 |
|
Mr. Chaovalit Ekabut |
|
Thai |
55 |
|
Mr. Somchai Wangwattanapanich |
|
Thai |
55 |
|
Mr. Rungrote Rangsiyopash |
|
Thai |
51 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Yuttana Jiamtragan is
the Managing Director.
He is Thai
nationality with the
age of 51
years old.
Mr. Attawut Kumkrong is the Senior
Technical Service &
Development Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged
in distributing of
petrochemical specialized in polyolefin
products, such as Polyethylene
[PE], Polypropylene [PP], High
Density Polyethylene [HDPE],
Medium Density Polyethylene [MDPE], Low
Density Polyethylene [LDPE], Linear
Low Density Polyethylene
[LLDPE], as well
as Masterbatch and
Polyethylene Wax for
various industries, such
as plastic & rubber
products, flexible packaging,
wires & cables, medical equipment
and automotive parts
industries.
PURCHASE
100% of the
products is purchased
from local suppliers.
MAJOR SUPPLIERS
Thai Polypropylene Co.,
Ltd.
Thai Polyethylene Co.,
Ltd.
Maptaphut Olefins Co.,
Ltd.
Rayong Olefins Co.,
Ltd.
SALES
90% of the
products is exported
to Republic of
China, Vietnam, Philippines,
Myanmar, Japan, Indonesia,
India, Malaysia, Hong
Kong, New Zealand,
Pakistan, Australia, Africa,
Dubai and the
countries in Europe,
Middle East and
Africa, the remaining
10% is sold
locally.
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.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately
100 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Warehouse
is located in
Rayong province.
COMMENT
Subject
was formed in 2008
as a distributor
and exporter of
plastic resin. The products
are for plastic industry.
Subject’s business performance is
upbeat as its
products have been
widely used in
plastic industries.
Subject
reported outstanding performance
in the previous
year, while its
current business has
slowly grown from
decline consumption from
domestic industrial sector.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 5,000,000 divided
into 50,000 shares
of Bht. 100 each,
with a current
capital paid-up at
Bht. 2,500,000 or
50,000 shares of
Bht. 50 each.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 28, 2014]
at Bht. 2,500,000
of capitalization
|
NAME |
HOLDING |
% |
|
|
|
|
|
SCG Chemicals Co.,
Ltd. Nationality: Thai Address : 1
Siam Cement Rd.,
Bangsue, Bangkok |
49,998 |
100.00 |
|
Mr. Veera Kamwongsa Nationality: Thai Address : 143/161
Rimklongprapa Rd., Bangsue,
Bangkok |
1 |
- |
|
Mrs. Veeranuch Sethameteekul Nationality: Thai Address : 40/29
Moo 6, Kukot, Lamlukka, Pathumthani |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 28, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
50,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO :
Ms.
Sureerat Thongaroonsaeng No.
4409
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 |
63,768,761 |
207,588,876 |
87,582,765 |
|
Trade Accounts Receivable
|
4,144,478,850 |
2,525,247,699 |
3,119,851,367 |
|
Goods Purchase for Sale |
354,198,807 |
411,301,919 |
431,738,765 |
|
Value Added Tax Receivable |
284,098,924 |
104,496,285 |
320,237,495 |
|
Other Current Assets
|
67,872,708 |
41,014,642 |
32,921,326 |
|
Total Current
Assets |
4,914,418,050 |
3,289,649,421 |
3,992,331,718 |
|
Other Long-term Investment |
113,361 |
87,262 |
87,262 |
|
Fixed Assets |
11,610,586 |
3,241,461 |
1,856,442 |
|
Intangible Assets |
407,477 |
542,436 |
454,849 |
|
Other Non-current Assets |
- |
- |
24,633 |
|
Total Assets
|
4,926,549,474 |
3,293,520,580 |
3,994,754,904 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Advance by Bank
Transfer under the Billing of Accounts
Receivable |
77,939,387 |
64,802,832 |
23,127,173 |
|
Trade Accounts & Other Payable |
3,873,911,501 |
2,576,590,062 |
2,666,371,425 |
|
Payable & Short-term Loan from Related Company |
895,961,565 |
583,925,327 |
1,193,817,155 |
|
Accrued Income Tax |
116,910 |
6,094,476 |
6,167,223 |
|
Other Current Liabilities |
5,276,812 |
3,696,580 |
3,326,244 |
|
Total Current
Liabilities |
4,853,206,175 |
3,235,109,277 |
3,892,809,220 |
|
Deferred Income Tax
Liabilities |
11,168,854 |
4,042,764 |
9,956,901 |
|
Employee Benefits Liabilities |
18,737,565 |
11,040,925 |
2,299,603 |
|
Total Liabilities |
4,883,112,594 |
3,250,192,966 |
3,905,065,724 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 value
Authorized &
issued share capital 50,000
shares |
5,000,000 |
5,000,000 |
5,000,000 |
|
Capital Paid |
2,500,000 |
2,500,000 |
2,500,000 |
|
Retained Earning Appropriated Statutory Reserve |
500,000 |
500,000 |
500,000 |
|
Unappropriated |
40,416,001 |
40,327,614 |
86,689,180 |
|
Other Components of Equity |
20,879 |
- |
- |
|
Total
Shareholders' Equity |
43,436,880 |
43,327,614 |
89,689,180 |
|
Total Liabilities
& Shareholders' Equity |
4,926,549,474 |
3,293,520,580 |
3,994,754,904 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
35,873,622,087 |
26,910,801,756 |
25,362,061,127 |
|
Other Income |
29,384,671 |
2,840,560 |
1,835,520 |
|
Interest Income |
50,482 |
30,230 |
53,959 |
|
Gain on Exchange Rate |
- |
6,294,834 |
41,166,268 |
|
Total Revenues
|
35,903,057,240 |
26,919,967,380 |
25,405,116,874 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
34,834,379,740 |
26,002,297,933 |
24,365,973,008 |
|
Selling Expenses |
541,889,245 |
530,826,521 |
593,664,470 |
|
Administrative Expenses |
453,081,036 |
323,358,137 |
315,674,876 |
|
Loss on Exchange Rate |
24,394,099 |
- |
- |
|
Total Expenses |
35,853,744,120 |
26,856,482,591 |
25,275,312,354 |
|
Profit before Financial Cost & Income Tax |
49,313,120 |
63,484,789 |
129,804,520 |
|
Financial Cost |
[8,365,149] |
[20,679,500] |
[17,825,418] |
|
Loss before Income tax |
40,947,971 |
42,805,289 |
111,979,102 |
|
Income Tax |
[8,359,584] |
[9,166,855] |
[30,220,812] |
|
Net Profit / [Loss] |
32,588,387 |
33,638,434 |
81,758,290 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.01 |
1.02 |
1.03 |
|
QUICK RATIO |
TIMES |
0.87 |
0.84 |
0.82 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3,089.73 |
8,302.06 |
13,661.65 |
|
TOTAL ASSETS TURNOVER |
TIMES |
7.28 |
8.17 |
6.35 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
3.71 |
5.77 |
6.47 |
|
INVENTORY TURNOVER |
TIMES |
98.35 |
63.22 |
56.44 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
42.17 |
34.25 |
44.90 |
|
RECEIVABLES TURNOVER |
TIMES |
8.66 |
10.66 |
8.13 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
40.59 |
36.17 |
39.94 |
|
CASH CONVERSION CYCLE |
DAYS |
5.29 |
3.86 |
11.42 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
97.10 |
96.62 |
96.07 |
|
SELLING & ADMINISTRATION |
% |
2.77 |
3.17 |
3.59 |
|
INTEREST |
% |
0.02 |
0.08 |
0.07 |
|
GROSS PROFIT MARGIN |
% |
2.98 |
3.41 |
4.10 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.14 |
0.24 |
0.51 |
|
NET PROFIT MARGIN |
% |
0.09 |
0.12 |
0.32 |
|
RETURN ON EQUITY |
% |
75.02 |
77.64 |
91.16 |
|
RETURN ON ASSET |
% |
0.66 |
1.02 |
2.05 |
|
EARNING PER SHARE |
BAHT |
1,303.54 |
1,345.54 |
3,270.33 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.99 |
0.99 |
0.98 |
|
DEBT TO EQUITY RATIO |
TIMES |
112.42 |
75.01 |
43.54 |
|
TIME INTEREST EARNED |
TIMES |
5.90 |
3.07 |
7.28 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
33.31 |
6.11 |
|
|
OPERATING PROFIT |
% |
(22.32) |
(51.09) |
|
|
NET PROFIT |
% |
(3.12) |
(58.86) |
|
|
FIXED ASSETS |
% |
258.19 |
74.61 |
|
|
TOTAL ASSETS |
% |
49.58 |
(17.55) |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 33.31%. Turnover has increased from THB
26,910,801,756.00 in 2012 to THB 35,873,622,087.00 in 2013. While net profit
has decreased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
2.98 |
Impressive |
Industrial
Average |
2.51 |
|
Net Profit Margin |
0.09 |
Deteriorated |
Industrial
Average |
1.36 |
|
Return on Assets |
0.66 |
Deteriorated |
Industrial
Average |
6.71 |
|
Return on Equity |
75.02 |
Impressive |
Industrial
Average |
17.50 |
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 2.98%. 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 0.09%.
When compared with the industry average, the ratio of the company was lower.
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 0.66%.
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 75.02%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.01 |
Acceptable |
Industrial
Average |
1.63 |
|
Quick Ratio |
0.87 |
|
|
|
|
Cash Conversion Cycle |
5.29 |
|
|
|
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 1.01 times in 2013, decreased from 1.02 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 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 0.87 times in 2013,
increased from 0.84 times, by excluding inventory, the company may have problems
meeting current liabilities.
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 6 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.99 |
Acceptable |
Industrial
Average |
0.58 |
|
Debt to Equity Ratio |
112.42 |
Risky |
Industrial
Average |
1.38 |
|
Times Interest Earned |
5.90 |
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 5.9 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 0.99 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 |
3,089.73 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
7.28 |
Impressive |
Industrial Average |
4.95 |
|
Inventory Conversion Period |
3.71 |
|
|
|
|
Inventory Turnover |
98.35 |
Impressive |
Industrial
Average |
14.31 |
|
Receivables Conversion Period |
42.17 |
|
|
|
|
Receivables Turnover |
8.66 |
Impressive |
Industrial
Average |
5.17 |
|
Payables Conversion Period |
40.59 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.66 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 6 days at the end
of 2012 to 4 days at the end of 2013. This represents a positive trend. And
Inventory turnover has increased from 63.22 times in year 2012 to 98.35 times
in year 2013.
The company's Total Asset Turnover is calculated as 7.28 times and 8.17
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.60.26 |
|
|
1 |
Rs.97.51 |
|
Euro |
1 |
Rs.77.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.