MIRA
INFORM REPORT
|
Report Date : |
23.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
ROHA DYECHEM [ |
|
|
|
|
Registered Office : |
888/5-6 Moo 9, Soi Roongcharoen 1, T. Bangpla, A. Bangplee, Samutprakarn 10540 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
29.03.2002 |
|
|
|
|
Com. Reg. No.: |
0105545035701 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in importing
and distributing of
synthetic food colors
and natural food colors for various industries,
such as foods
and bakery, cosmetics,
pharmaceuticals, dairy products,
ice-cream, confectionery, seafood
and pet food
industries. |
|
|
|
|
No of Employees : |
35 |
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 & address
ROHA DYECHEM
[THAILAND] LIMITED
SUMMARY
BUSINESS ADDRESS : 888/5-6 MOO 9,
SOI ROONGCHAROEN 1,
T.
BANGPLA, A. BANGPLEE,
SAMUTPRAKARN 10540,
THAILAND
TELEPHONE : [66] 2181-6782-4
FAX : [66] 2181-6785
E-MAIL ADDRESS : roha.thailand@rohagroup.com
rohathai@yahoo.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2002
REGISTRATION NO. : 0105545035701
TAX ID NO. : 3030512901
CAPITAL REGISTERED : BHT.
5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI
: 51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
HARIN DHARAMDAS JUTHANI,
INDIAN
MANAGING DIRECTOR
NO. OF STAFF : 35
LINES OF BUSINESS : FOOD
COLORS
IMPORTER AND DISTRIBUTOR
|
|
|
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 March
29, 2002 as
a private limited
company under the registered
name ROHA DYECHEM [THAILAND]
LIMITED by Thai and
Indian groups. Its business
objective is to
import and distribute
various kinds of
food color products
for various industries.
It currently employs
35 staff.
The subject’s registered
address was initially at 207-211 Soi Sukhumvit 93, Sukhumvit
Rd., Bangchak, Phrakanong,
Bangkok 10260.
On April 5,
2013, the subject’s
registered address was
relocated to 888/5-6
Moo 9, Soi
Roongcharoen 1, T. Bangpla, A. Bangplee,
Samutprakarn 10540, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Harin Dharamdas Juthani |
|
Indian |
57 |
|
Mr. Tibrewala Ramakant Jagdishprashad |
|
Indian |
58 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Harin Dharamdas Juthani
is the Managing
Director.
He is Indian
nationality with the
age of 57 years
old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing of
synthetic food colors
and natural food colors for various industries,
such as foods
and bakery, cosmetics,
pharmaceuticals, dairy products,
ice-cream, confectionery, seafood
and pet food
industries. Its products are as follows:
Synthetic food colors: Tartrazine, Sunset Yellow, Indigo Carmine,
Erythrosine, Carmoisine and Green-s.
Natural food colors:
Lutein, Lycopene, Anthocyanin,
Chlorophyll, Carbo Vegetabilis,
Titanium Dioxide, Iron
Oxide Yellow and
Riboflavin.
MAJOR BRANDS
IDACOL, IDALACOL, IDACOAT,
NATRACOL, IDACOS and
etc.
PURCHASE
80% of the products is imported from United Kingdom, Spain, Republic of
China, Indonesia, Taiwan, India
and Vietnam, the
remaining 20% is
purchased from local suppliers and
agents.
MAJOR SUPPLIERS
Roha Dyechem Pvt.
Ltd. : India
Roha Dyechem Shanghai
Co., Ltd. :
Republic of China
Roha UK Ltd. :
Roha Europe S.L.U. : Spain
SALES
100% of the
products is sold
locally by wholesale
to manufacturers and
end-users.
RELATED COMPANY
Roha Asia Pacific
[Thailand] Limited
Business Type :
Supplier and service
provider of filtration
technology products
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 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
BANKING
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject currently
employs 35 staff.
LOCATION DETAILS
The premise is owned
for administrative office
and warehouse at
the heading address.
Premise is located
in provincial.
COMMENT
The subject was
formed in 2002
as an importer
and distributor of food
color. Its products
are for industrial
and household users. Sales
were strongly grown
in 2012-2013 as demand of
food and bakery
including beverage, cosmetic
and pharmaceutical industries
has been risen
significantly from strong
consumption in both domestic and
exports. Its business
is promising.
FINANCIAL INFORMATION
The capital was
registered at Bht. 2,000,000 divided into 20,000 shares of Bht. 100 each
with fully paid.
On March 24,
2014 the registered
capital was increased
to Bht. 5,000,000 divided into 50,000 shares of Bht. 100 each
with fully paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Roha Asia Pacific
[Thailand] Limited Nationality: Thai Address : 207-211
Sukhumvit 93 Rd.,
Bangchak,
Phrakanong, Bangkok |
25,497 |
50.99 |
|
Roha Dyechem Limited Nationality: Indian Address : Mumbai,
India |
24,498 |
49.00 |
|
Mr. Tibrewala Ramakant Jagdishprashad Nationality: Indian Address : Mumbai,
India |
1 |
|
|
Mr. Tibrewala Singkant Jagdishprashad Nationality: Indian Address : Mumbai,
India |
1 |
|
|
Mrs. Buaklay Yenpetch Nationality: Thai Address : 31
Moo 4, T. Khunsri,
A. Sainoi, Nonthaburi |
1 |
= 0.01 |
|
Mr. Teerasarn Yenpetch Nationality: Thai Address : 31
Moo 4, T. Khunsri,
A. Sainoi, Nonthaburi |
1 |
|
|
Ms. Thanantorn Yenpetch Nationality: Thai Address : 89
Moo 7, T. Bangpueng, A. Phrapradaeng,
Samutprakarn |
1 |
|
Total Shareholders : 7
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
25,500 |
51.00 |
|
Foreign - Indian |
3 |
24,500 |
49.00 |
|
Total |
7 |
50,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Sakkarin Chaybanjong No. 10941
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 |
2,849,473.98 |
7,395,026.84 |
5,386,690.39 |
|
Trade Accounts & Other
Receivable |
28,013,172.36 |
23,188,716.25 |
25,522,855.03 |
|
Inventories |
31,489,489.50 |
31,290,507.37 |
28,885,153.01 |
|
Other Current Assets
|
2,937,267.69 |
3,917,784.14 |
4,309,273.88 |
|
|
|
|
|
|
Total Current Assets
|
65,289,403.53 |
65,792,034.60 |
64,103,972.31 |
|
Investment in Roha
Asia Pacific [Thailand] Limited
- at Cost |
2,549,200.00 |
2,549,200.00 |
2,549,200.00 |
|
Cash at Bank pledged as
a Collateral |
970,088.98 |
940,284.00 |
6,008,325.00 |
|
Fixed Assets |
76,692,715.37 |
48,058,402.52 |
2,561,031.73 |
|
Other Non-current Assets
|
304,300.00 |
303,500.00 |
302,700.00 |
|
Total Assets |
145,805,707.88 |
117,643,421.12 |
75,525,229.04 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term
Loan from Financial Institution |
2,788,528.70 |
- |
9,832,873.91 |
|
Trade Accounts &
Other Payable |
19,872,665.42 |
21,979,552.99 |
19,490,762.07 |
|
Current Portion of Long-term
Liabilities |
8,250,600.00 |
5,500,200.00 |
- |
|
Short-term Loan |
7,071,904.00 |
6,924,400.00 |
7,093,104.00 |
|
Accrued Income Tax |
2,214,405.50 |
2,747,866.70 |
2,335,874.72 |
|
Other Current Liabilities |
167,976.93 |
191,009.03 |
167,133.20 |
|
|
|
|
|
|
Total Current Liabilities |
40,366,080.55 |
37,343,028.72 |
38,919,747.90 |
|
Long-term Loan from Financial Institution |
34,374,000.00 |
27,499,800.00 |
- |
|
Reserve for Employees Benefit |
431,382.71 |
333,308.11 |
- |
|
Total Liabilities |
75,171,463.26 |
65,176,136.83 |
38,919,747.90 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 20,000 shares |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
|
|
|
|
|
Capital Paid |
2,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Retained Earning -
Unappropriated |
68,634,244.62 |
50,467,284.29 |
34,605,481.14 |
|
Total Shareholders' Equity |
70,634,244.62 |
52,467,284.29 |
36,605,481.14 |
|
Total Liabilities &
Shareholders' Equity |
145,805,707.88 |
117,643,421.12 |
75,525,229.04 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
153,944,091.00 |
153,557,210.66 |
136,952,158.79 |
|
Other Income |
133,848.21 |
797,545.11 |
14,361.88 |
|
Total Revenues |
154,077,939.21 |
154,354,755.77 |
136,966,520.67 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
108,032,932.37 |
118,611,338.76 |
105,266,179.47 |
|
Selling Expenses |
1,440,766.89 |
1,043,143.65 |
1,061,978.22 |
|
Administrative Expenses |
17,670,123.39 |
13,792,442.98 |
15,829,910.06 |
|
Other Expenses |
1,380,968.04 |
- |
- |
|
Total Expenses |
124,524,790.69 |
133,446,925.39 |
122,158,067.75 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
25,553,148.52 |
20,907,830.38 |
14,808,452.92 |
|
Financial Cost |
[2,730,992.81] |
[170,302.15] |
[11.47] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
22,822,155.71 |
20,737,528.23 |
14,808,441.45 |
|
Income Tax |
[4,655,195.38] |
[4,875,725.08] |
[4,193,518.34] |
|
|
|
|
|
|
Net Profit / [Loss] |
18,166,960.33 |
15,861,803.15 |
10,614,923.11 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.62 |
1.76 |
1.65 |
|
QUICK RATIO |
TIMES |
0.76 |
0.82 |
0.79 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.01 |
3.20 |
53.48 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.06 |
1.31 |
1.81 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
106.39 |
96.29 |
100.16 |
|
INVENTORY TURNOVER |
TIMES |
3.43 |
3.79 |
3.64 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
66.42 |
55.12 |
68.02 |
|
RECEIVABLES TURNOVER |
TIMES |
5.50 |
6.62 |
5.37 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
67.14 |
67.64 |
67.58 |
|
CASH CONVERSION CYCLE |
DAYS |
105.67 |
83.77 |
100.60 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
70.18 |
77.24 |
76.86 |
|
SELLING & ADMINISTRATION |
% |
12.41 |
9.66 |
12.33 |
|
INTEREST |
% |
1.77 |
0.11 |
0.00 |
|
GROSS PROFIT MARGIN |
% |
29.91 |
23.28 |
23.15 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
19.20 |
13.62 |
10.81 |
|
NET PROFIT MARGIN |
% |
11.80 |
10.33 |
7.75 |
|
RETURN ON EQUITY |
% |
25.72 |
30.23 |
29.00 |
|
RETURN ON ASSET |
% |
12.46 |
13.48 |
14.05 |
|
EARNING PER SHARE |
BAHT |
908.35 |
793.09 |
530.75 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.52 |
0.55 |
0.52 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.06 |
1.24 |
1.06 |
|
TIME INTEREST EARNED |
TIMES |
10.82 |
122.77 |
1,291,059.54 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
0.25 |
12.12 |
|
|
OPERATING PROFIT |
% |
41.35 |
41.19 |
|
|
NET PROFIT |
% |
14.53 |
49.43 |
|
|
FIXED ASSETS |
% |
59.58 |
1,776.53 |
|
|
TOTAL ASSETS |
% |
23.94 |
55.77 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 0.25%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
29.91 |
Impressive |
Industrial Average |
6.78 |
|
Net Profit Margin |
11.80 |
Impressive |
Industrial Average |
2.11 |
|
Return on Assets |
12.46 |
Impressive |
Industrial Average |
5.65 |
|
Return on Equity |
25.72 |
Impressive |
Industrial Average |
17.26 |
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 29.91%. 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 11.8%,
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
12.46%, 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 25.72%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.62 |
Impressive |
Industrial Average |
1.24 |
|
Quick Ratio |
0.76 |
|
|
|
|
Cash Conversion Cycle |
105.67 |
|
|
|
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 1.62 times in 2013, decreased from 1.76 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 0.76 times in 2013,
decreased from 0.82 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 106 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.52 |
Impressive |
Industrial Average |
0.77 |
|
Debt to Equity Ratio |
1.06 |
Impressive |
Industrial Average |
3.53 |
|
Times Interest Earned |
10.82 |
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 10.83 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 0.52 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.01 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.06 |
Deteriorated |
Industrial Average |
2.67 |
|
Inventory Conversion Period |
106.39 |
|
|
|
|
Inventory Turnover |
3.43 |
Deteriorated |
Industrial Average |
7.72 |
|
Receivables Conversion Period |
66.42 |
|
|
|
|
Receivables Turnover |
5.50 |
Impressive |
Industrial Average |
4.09 |
|
Payables Conversion Period |
67.14 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.50 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 increased from 96 days at the
end of 2012 to 106 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 3.79 times in year 2012 to 3.43 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.06 times and 1.31
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.60.79 |
|
|
1 |
Rs.99.30 |
|
Euro |
1 |
Rs.78.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
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.