MIRA
INFORM REPORT
|
Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
Q & Q
HOLDING COMPANY LIMITED |
|
|
|
|
Registered Office : |
44 Moo
7, Ladkrabang Industrial
Estate, Ladkrabang, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
30.08.1979 |
|
|
|
|
Com. Reg. No.: |
0105522016387 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Engaged in
manufacturing and servicing
of rubber soiling
sheets, e.g. resin rubber
soiling sheet, unit
sole [half sole, ladies
sole, men sole]
and etc., for footwear
industry, under its
own brand “Q&Q”
and customer’s brands. |
|
|
|
|
No. of Employees : |
250 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Thailand. |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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
Q
& Q HOLDING
COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 44
MOO 7, LADKRABANG
INDUSTRIAL ESTATE,
CHALONGKRUNG ROAD,
LAMPLATIEW,
LADKRABANG, BANGKOK
10520, THAILAND
TELEPHONE : [66] 2326-0755-8
FAX :
[66] 2326-0759
E-MAIL
ADDRESS : qqmk@qandq.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1979
REGISTRATION
NO. : 0105522016387
TAX
ID NO. : 3101139044
CAPITAL REGISTERED : BHT. 120,000,000
CAPITAL PAID-UP : BHT.
120,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SURACHAI CHIVAPUNTUSRI, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 250
LINES
OF BUSINESS : RUBBER SOILING
SHEETS
MANUFACTURER, 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 August 30,
1979 as a
private limited company under
the registered name
Q & Q
HOLDING COMPANY LIMITED, by
Thai groups, with the business
objective to manufacture and distribute
rubber soiling sheets
for shoes production to both domestic
and international markets.
It currently employs
approximately 250 staff.
The subject’s registered address is 44
Moo 7, Ladkrabang
Industrial Estate, Chalongkrung
Road, Lamplatiew, Ladkrabang,
Bangkok 10520, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Surachai Chivapuntusri |
|
Thai |
63 |
AUTHORIZED PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Surachai Chivapuntusri is
the Managing Director.
He is Thai
nationality with the
age of 63 years
old.
Mr. Wirun Chivapuntusri is the Factory
Manager.
He is Thai
nationality.
Mr. Saksit Chivapuntusri is
the Administration Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing and servicing
of rubber soiling
sheets, e.g. resin rubber
soiling sheet, unit
sole [half sole, ladies
sole, men sole]
and etc., for footwear
industry, under its
own brand “Q&Q”
and customer’s brands.
PURCHASE
Raw
materials such as
synthetic rubber sheet
and chemicals are
purchased from suppliers
both domestic and
overseas in Korea,
Germany, Japan and
Republic of China.
EXPORT
80% of the
products is exported
to Brazil, Republic of China,
Malaysia, Taiwan, Korea, Vietnam,
Hong Kong, Italy, India, France, Japan,
Indonesia, the countries in
Africa and others
with more than
40 countries.
SALES [LOCAL]
20% of the
products is sold
and serviced locally
to traders and
manufacturers.
MAJOR CUSTOMERS
Hui Chun Co.,
Ltd. : Taiwan
Wang Suri Sdn.
Bhd. : Malaysia
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 for the
past two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60-90 days.
Local bills are
paid by cash
or on the
credits term of
30-60-90 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T on the
credits term of
30-60 days.
BANKING
Bangkok
Bank Public Co.,
Ltd.
[Pubplachai Branch, 9
Suapa Road, Pomprab, Bangkok 10100.]
Kasikornabank Public
Co., Ltd.
[Ladkrabang Branch, Ladkrabang
Road, Lamplatiew, Ladkrabang, Bangkok 10520]
EMPLOYMENT
The
subject currently employs
approximately 250 staff.
LOCATION
DETAILS
The premise
is owned for
administrative office and
factory at the heading
address. Premise is located
in industrial area.
Sales
Office :
35, 37
Sukhumvit 103 Road,
Nongbon, Pravate, Bangkok
10250.
Tel. :
[66] 2747-1313, Fax. : [66] 2399-0106.
COMMENT
Through
the year 2014, the company has been
sticking to its policy of sustainable growth through developing products which
suit market needs. Developing new markets and making new investments, based on
this principle allowed the company
to maintain continual expansion all along. This also makes it possible to provide
persistently satisfactory returns.
FINANCIAL INFORMATION
The
capital was registered at Bht.
15,000,000 divided into 150,000
shares of Bht. 100
each with fully
paid.
The
capital was increased
and decreased later
as follows:
Bht. 30,000,000
on March 12,
1981
Bht. 90,000,000
on December 19,
1997
Bht. 120,000,000
on September 14,
2000
Bht. 30,000,000
on March 7,
2001 [decreased]
Bht. 60,000,000
on November 21,
2001 [increased]
Bht. 120,000,000
on December 26,
2006 [increased]
The
latest registered capital
was increased to
Bht. 120,000,000 divided
into 12,000,000 shares
of Bht. 10 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Dusanee Mahasiri Nationality: Thai Address : 11/1
Soi Pattanawet 7,
Klongtonnua, Wattana,
Bangkok |
3,466,640 |
28.89 |
|
Mr. Pichit Lerttamrab Nationality: Thai Address : 15
Soi Panichkul, Prakanongnua,
Wattana, Bangkok |
1,518,920 |
12.66 |
|
Ms. Sudaranee Chivapuntusri Nationality: Thai Address : 35
Soi Chalermprakiat R. 9 [33],
Nongbon, Pravate, Bangkok |
1,293,621 |
10.78 |
|
Mrs. Kiatsri Lerttamrab Nationality: Thai Address : 15
Soi Panichkul, Prakanongnua,
Wattana, Bangkok |
1,199,960 |
9.99 |
|
Mr. Maytee Lerttamrab Nationality: Thai Address : 15
Soi Panichkul, Prakanongnua,
Wattana, Bangkok |
1,126,520 |
9.39 |
|
Mr. Mayta Lerttamrab Nationality: Thai Address : 15
Soi Panichkul, Prakanongnua,
Wattana, Bangkok |
1,126,520 |
9.39 |
|
Mr. Surachai Chivapuntusri Nationality: Thai Address : 35
Soi Chalermprakiat R. 9 [33],
Nongbon, Pravate, Bangkok |
1,093,960 |
9.12 |
|
Lt. Col. Kamolphan
Chivapuntusri Nationality: Thai Address : 28/293
Soi Ramkhamhaeng 1, Suanluang,
Bangkok |
1,093,960 |
9.12 |
|
Other Shareholders |
79,899 |
0.66 |
Total Shareholders : 12
Share Structure [as
at April 30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
12 |
12,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
12 |
12,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Jinawat Chaowiang No.
9417
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 |
715,459.73 |
1,844,411.51 |
10,138,421.46 |
|
Trade Accounts &
Other Receivable |
110,202,085.23 |
75,351,838.31 |
40,717,858.71 |
|
Inventories |
17,363,559.66 |
18,667,531.10 |
21,847,884.89 |
|
Other Current Assets
|
3,821,084.96 |
8,939,296.97 |
7,855,802.19 |
|
|
|
|
|
|
Total Current Assets
|
132,102,189.58 |
104,803,077.89 |
80,559,967.25 |
|
|
|
|
|
|
Long-term Investment
|
200,000.00 |
8,209,000.00 |
17,260,652.21 |
|
Fixed Assets |
142,963,207.78 |
136,054,855.90 |
136,910,300.73 |
|
Total Assets |
275,265,397.36 |
249,066,933.79 |
234,730,920.19 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
38,940,341.86 |
26,141,661.99 |
26,530,000.00 |
|
Trade Accounts & Other
Payable |
42,413,572.43 |
19,840,968.24 |
11,453,679.14 |
|
Short-term Loans |
9,975,000.00 |
12,005,000.00 |
2,975,000.00 |
|
Accrued Income Tax |
633,284.12 |
751,293.83 |
688,020.50 |
|
Other Current Liabilities |
1,737,205.63 |
994,540.95 |
3,544,516.17 |
|
|
|
|
|
|
Total Current Liabilities |
93,699,404.06 |
59,733,465.01 |
45,191,215.81 |
|
Long-term Loans |
44,174,236.06 |
57,403,288.04 |
60,746,534.44 |
|
Total Liabilities |
137,873,640.12 |
117,136,753.05 |
105,937,750.25 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 12,000,000 shares |
120,000,000.00 |
120,000,000.00 |
120,000,000.00 |
|
|
|
|
|
|
Capital Paid |
120,000,000.00 |
120,000,000.00 |
120,000,000.00 |
|
Premium on Share Capital |
29,781,050.00 |
29,781,050.00 |
29,781,050.00 |
|
Retained Earning Unappropriated [Deficit] |
[12,389,292.76] |
[17,850,869.26] |
[20,987,880.06] |
|
Total Shareholders' Equity |
137,391,757.24 |
131,930,180.74 |
128,793,169.94 |
|
Total Liabilities & Shareholders' Equity |
275,265,397.36 |
249,066,933.79 |
234,730,920.19 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
368,922,729.57 |
372,536,238.52 |
303,878,282.56 |
|
Other Income |
2,376,322.97 |
798,151.93 |
1,539,241.17 |
|
Total Revenues |
371,299,052.54 |
373,334,390.45 |
305,417,523.73 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
308,607,925.93 |
319,434,864.95 |
258,900,745.95 |
|
Selling Expenses |
26,814,942.28 |
23,769,456.89 |
18,979,023.00 |
|
Administrative Expenses |
18,325,268.18 |
15,271,146.10 |
13,286,057.90 |
|
Total Expenses |
353,748,136.39 |
358,475,467.94 |
291,165,826.85 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
17,550,916.15 |
14,858,922.51 |
14,251,696.88 |
|
Financial Costs |
[10,723,945.53] |
[10,292,117.88] |
[9,723,295.23] |
|
Profit / [Loss] before Income
Tax |
6,826,970.62 |
4,566,804.63 |
4,528,401.65 |
|
Income Tax |
[1,365,394.12] |
[1,429,793.83] |
[1,358,520.50] |
|
|
|
|
|
|
Net Profit / [Loss] |
5,461,576.50 |
3,137,010.80 |
3,169,881.15 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.41 |
1.75 |
1.78 |
|
QUICK RATIO |
TIMES |
1.18 |
1.29 |
1.13 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.58 |
2.74 |
2.22 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.34 |
1.50 |
1.29 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
20.54 |
21.33 |
30.80 |
|
INVENTORY TURNOVER |
TIMES |
17.77 |
17.11 |
11.85 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
109.03 |
73.83 |
48.91 |
|
RECEIVABLES TURNOVER |
TIMES |
3.35 |
4.94 |
7.46 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
50.16 |
22.67 |
16.15 |
|
CASH CONVERSION CYCLE |
DAYS |
79.40 |
72.49 |
63.56 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.65 |
85.75 |
85.20 |
|
SELLING & ADMINISTRATION |
% |
12.24 |
10.48 |
10.62 |
|
INTEREST |
% |
2.91 |
2.76 |
3.20 |
|
GROSS PROFIT MARGIN |
% |
16.99 |
14.47 |
15.31 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.76 |
3.99 |
4.69 |
|
NET PROFIT MARGIN |
% |
1.48 |
0.84 |
1.04 |
|
RETURN ON EQUITY |
% |
3.98 |
2.38 |
2.46 |
|
RETURN ON ASSET |
% |
1.98 |
1.26 |
1.35 |
|
EARNING PER SHARE |
BAHT |
0.46 |
0.26 |
0.26 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.50 |
0.47 |
0.45 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.00 |
0.89 |
0.82 |
|
TIME INTEREST EARNED |
TIMES |
1.64 |
1.44 |
1.47 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.97) |
22.59 |
|
|
OPERATING PROFIT |
% |
18.12 |
4.26 |
|
|
NET PROFIT |
% |
74.10 |
(1.04) |
|
|
FIXED ASSETS |
% |
5.08 |
(0.62) |
|
|
TOTAL ASSETS |
% |
10.52 |
6.11 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is -0.97%. Turnover has decreased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
16.99 |
Deteriorated |
Industrial
Average |
74.99 |
|
Net Profit Margin |
1.48 |
Deteriorated |
Industrial
Average |
6.83 |
|
Return on Assets |
1.98 |
Deteriorated |
Industrial
Average |
10.69 |
|
Return on Equity |
3.98 |
Deteriorated |
Industrial
Average |
21.18 |
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 16.99%. 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 1.48%.
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 1.98%.
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 3.98%.
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 |
1.41 |
Satisfactory |
Industrial
Average |
1.50 |
|
Quick Ratio |
1.18 |
|
|
|
|
Cash Conversion Cycle |
79.40 |
|
|
|
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 1.41 times in 2013, decreased from 1.75 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 1.18 times in 2013,
decreased from 1.29 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 80 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.50 |
Acceptable |
Industrial
Average |
0.44 |
|
Debt to Equity Ratio |
1.00 |
Risky |
Industrial
Average |
0.78 |
|
Times Interest Earned |
1.64 |
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 1.64 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 0.5, 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.58 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.34 |
Satisfactory |
Industrial
Average |
1.57 |
|
Inventory Conversion Period |
20.54 |
|
|
|
|
Inventory Turnover |
17.77 |
Impressive |
Industrial
Average |
6.76 |
|
Receivables Conversion Period |
109.03 |
|
|
|
|
Receivables Turnover |
3.35 |
Acceptable |
Industrial
Average |
5.42 |
|
Payables Conversion Period |
50.16 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.35 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 is 21 days at the end of 2012, same
number of days
as in 2013.
And Inventory turnover has increased from 17.11 times in year 2012 to
17.77 times in year 2013.
The company's Total Asset Turnover is calculated as 1.34 times and 1.5
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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.19 |
|
|
1 |
Rs.98.65 |
|
Euro |
1 |
Rs.78.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
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.