MIRA INFORM REPORT
|
Report No. : |
315394 |
|
Report Date : |
02.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
THAI ASAHI KASEI SPANDEX CO., LTD. |
|
|
|
|
Registered Office : |
919 Moo 11, Sriracha Saha Group Industrial Park, T. Nongkham, A. Sriracha, Chonburi 20230, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.10.2003 |
|
|
|
|
Com. Reg. No.: |
0205546014171 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer,
Distributor and Exporter of Spandex Yarn. |
|
|
|
|
No. of Employees : |
200 |
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 : |
Slow but correct |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
THAI ASAHI KASEI
SPANDEX CO., LTD.
SUMMARY
BUSINESS ADDRESS : 919
MOO 11, SRIRACHA
SAHA GROUP
INDUSTRIAL PARK, T.NONGKHAM, A. SRIRACHA,
CHONBURI
20230, THAILAND
TELEPHONE : [66] 38
483-005-8
FAX :
[66] 38
482-969, 38 482-979
E-MAIL
ADDRESS : marketing@taspandex.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2003
REGISTRATION
NO. : 0205546014171
TAX
ID NO. : 3031109582
CAPITAL REGISTERED : BHT. 1,350,000,000
CAPITAL PAID-UP : BHT.
1,350,000,000
SHAREHOLDER’S PROPORTION : THAI :
21.00%
JAPANESE :
79.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SHINICHIRO HAGA, JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 200
LINES
OF BUSINESS : SPANDEX YARN
MANUFACTURER, DISTRIBUTOR AND EXPORTER
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 October 15,
2003 as a
private limited company under
the name style THAI
ASAHI KASEI SPANDEX
CO., LTD, by
Thai and Japanese
groups, with the business objective to manufacture spandex yarn for
textile industry. It currently employs
approximately 200 staff.
Subject
is a joint
investment among Asahi Kasei
Fibers Corporation, Wacoal Corporation
of Japan and
The Saha Pattanapibul
group of companies,
Thailand, with holding
around 60%, 19% and
21% of the
subject’s shares respectively.
The
subject’s registered address
is 919 Moo 11,
Sriracha Saha Group
Industrial Park, T. Nongkham,
A. Sriracha, Chonburi 20230,
and this is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Suchai Narongkananukul |
|
Thai |
69 |
|
Mr. Atsushi Tabata |
|
Japanese |
47 |
|
Mr. Ryujiro Yoshino |
|
Japanese |
57 |
|
Mr. Shinichiro Haga |
[x] |
Japanese |
49 |
|
Mr. Yoichiro Azuma |
[x] |
Japanese |
48 |
AUTHORIZED
PERSON
One of the mentioned
directors [x] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Shinichiro Haga is the Managing
Director.
He is Japanese
nationality with the
age of 49
years old.
Mr. Yoichiro Azuma is
the General Manager.
He is Japanese
nationality with the age
of 48 years
old.
Mr. Gotaro Tobishima is
the Sales &
Marketing Manager.
He is Japanese
nationality.
Mr. Eakarat Ngamkachang is
the Production Plan
Manager.
He is Thai
nationality.
Ms. Kanitta Sanaeha is
the Personnel Manager.
She is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting spandex yarn
for
textile industry.
BRAND
NAME
“ROICA”
PRODUCTION
CAPACITY
3,700 tons
per annum
PURCHASE
Raw materials such
as plastic resin [PU] and chemicals are purchased
from both local
and overseas suppliers
in Japan, Germany,
India, Taiwan and
Republic of China.
MAJOR SUPPLIER
Asahi
Kasei Fibers Corporation : Japan
SALES
70% of the
products is exported
to Japan, Turkey,
Indonesia, Malaysia, India,
Vietnam, Hong Kong,
Singapore, Philippines, Pakistan,
Bangladesh, Korea, Myanmar,
Australia, Republic of
China, Mexico, U.S.A.,
and the countries
in Africa and
Europe, the remaining
30% is sold
locally.
MAJOR
CUSTOMERS
Wacoal Corporation : Japan
Thai Wacoal Public
Company Limited : Thailand
Triumph International
[Thailand] Ltd. :
Thailand
Thanulux Public Company
Limited : Thailand
Textile Prestige Public
Company Limited : Thailand
Sabina Public Company
Limited : Thailand
I.C.C International Public
Company Limited : Thailand
Asahi Kasei Spandex
America Inc. : U.S.A.
Assatex S.A. : Mexico
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 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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
200 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 provincial/industrial area.
Bangkok Office is located
at 16th Floor, Chamnan Bhenjati
Business Center, 65/131
Rama
9 Rd., Huaykwang,
Bangkok 10320. Tel.: [66] 2643-2857-8, Fax. : [66] 2643-2859.
COMMENT
Subject
is a manufacturer,
distributor and exporter of
spandex yarn. The
products are in
strong demand from
textile industry. Spandex
fabric has currently been
used in variety
products such as
swimming suit, legging,
stocking, sock, underwear,
sporting suit, undergarment, apparels
and etc.
Subject has
solid business and
a promising market.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 520,000,000 divided
into 520,000 shares
of Bht. 1,000
each with fully
paid.
The
capital was increased
later as follows:
Bht. 700,000,000 on
August 7, 2006
Bht. 850,000,000
on October 2,
2007
Bht. 1,350,000,000
on August 29,
2008
The
latest registered capital
was increased to
Bht. 1,350 million, divided into
1,350,000 shares of Bht. 1,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as at
March 27, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Asahi Kasei Fibers
Corporation Nationality: Japanese Address : 3-23
Nakanoshima 3-chome,
Kita-ku, Osaka, Japan |
810,000 |
60.00 |
|
Wacoal Corporation Nationality: Japanese Address : 29
Nakashima-sho, Kissho-in, Minami-ku,
Kyoto, Japan |
256,500 |
19.00 |
|
Saha Pattana Inter-Holding Public Company Limited Nationality: Thai Address : 530 Sathupradit
58 Rd., Bangpongpang,
Yannawa, Bangkok |
81,000 |
6.00 |
|
Textile Prestige Public
Company Limited Nationality: Thai Address : 704/1-9
Rama 3 Rd.,
Bangpongpang,
Yannawa, Bangkok |
67,500 |
5.00 |
|
I.C.C International Public
Company Limited Nationality: Thai Address : 530
Sathupradit 58 Rd., Bangpongpang,
Yannawa, Bangkok |
54,000 |
4.00 |
|
Thanulux Public Company
Limited Nationality: Thai Address : 129/1
Chongnonsee Rd., Chongnonsi,
Yannawa, Bangkok |
54,000 |
4.00 |
|
Thai Wacoal Public
Company Limited Nationality: Thai Address : 930/1
Sathupradit Rd., Bangklo,
Bangkorlaem, Bangkok |
27,000 |
2.00 |
Total Shareholders : 7
Share Structure [as
at March 27,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
283,500 |
21.00 |
|
Foreign - Japanese |
2 |
1,066,500 |
79.00 |
|
Total |
7 |
1,350,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT
NO.:
Mr. Krit Chatchawalwong No.
5016
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 |
151,998,583 |
133,648,237 |
96,736,166 |
|
Trade Accounts & Other Receivable |
357,232,859 |
252,379,524 |
211,170,369 |
|
Inventories |
261,351,714 |
202,096,248 |
270,861,526 |
|
Value Added Tax |
22,640,949 |
2,632,076 |
2,449,717 |
|
Other Current Assets
|
497,280 |
429,967 |
371,289 |
|
Total Current
Assets |
793,721,388 |
591,186,052 |
581,589,067 |
|
|
|
|
|
|
Fixed Assets |
1,743,277,709 |
1,803,805,181 |
1,964,504,365 |
|
Intangible Assets |
1,305,013 |
747,382 |
727,593 |
|
Deposit |
370,757 |
363,954 |
324,150 |
|
Total Assets
|
2,538,674,867 |
2,396,102,569 |
2,547,145,175 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Short-term Loan from Financial Institution |
440,000,000 |
559,000,000 |
492,400,000 |
|
Trade Accounts & Other Payable |
367,778,936 |
288,484,399 |
342,311,034 |
|
Accrued Income Tax |
4,084,050 |
- |
- |
|
Current Portion of Long-term Loans from Financial Institutions |
101,245,000 |
101,245,000 |
101,245,000 |
|
Other Current Liabilities |
1,013,480 |
1,038,624 |
896,843 |
|
Total Current
Liabilities |
914,121,466 |
949,768,023 |
936,852,877 |
|
Estimated Liabilities from
Employee Benefits |
2,379,033 |
1,817,732 |
1,340,772 |
|
Long-term Loan from Financial Institutions |
185,000,000 |
101,245,000 |
202,490,000 |
|
Total Liabilities |
1,101,500,499 |
1,052,830,755 |
1,140,683,649 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
value Authorized, issued
and fully paid
share capital
1,350,000 shares |
1,350,000,000 |
1,350,000,000 |
1,350,000,000 |
|
Capital Paid |
1,350,000,000 |
1,350,000,000 |
1,350,000,000 |
|
Retained Earning Appropriated for Statutory
Reserve |
23,925,021 |
23,925,021 |
22,426,784 |
|
Unappropriated |
63,249,347 |
[30,653,207] |
34,034,742 |
|
Total Shareholders' Equity |
1,437,174,368 |
1,343,271,814 |
1,406,461,526 |
|
Total Liabilities & Shareholders' Equity |
2,538,674,867 |
2,396,102,569 |
2,547,145,175 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
1,602,985,471 |
1,565,075,141 |
1,446,545,771 |
|
Other Income |
26,882,808 |
18,128,657 |
16,154,354 |
|
Total Revenues
|
1,629,868,279 |
1,583,203,798 |
1,462,700,125 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,359,127,690 |
1,447,525,609 |
1,279,302,956 |
|
Selling Expenses |
116,809,881 |
120,865,942 |
108,583,768 |
|
Administrative Expenses |
27,482,192 |
24,659,606 |
20,431,309 |
|
Other Expense - Loss on
Sales of Equipment |
5,487,392 |
1,722,438 |
230,722 |
|
Total Expenses |
1,508,907,155 |
1,594,773,595 |
1,408,548,755 |
|
Profit/[Loss] before Finance
Cost & Income Tax |
120,961,124 |
[11,569,797] |
54,151,370 |
|
Finance Cost - Interest Expenses |
[22,970,650] |
[23,753,410] |
[23,235,937] |
|
|
|
|
|
|
Profit/[Loss] before Income Tax |
97,990,474 |
[35,323,207] |
30,915,433 |
|
Income Tax |
[4,087,920] |
- |
- |
|
Net Profit / [Loss] |
93,902,554 |
[35,323,207] |
30,915,433 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.87 |
0.62 |
0.62 |
|
QUICK RATIO |
TIMES |
0.56 |
0.41 |
0.33 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
0.92 |
0.87 |
0.74 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.63 |
0.65 |
0.57 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
70.19 |
50.96 |
77.28 |
|
INVENTORY TURNOVER |
TIMES |
5.20 |
7.16 |
4.72 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
81.34 |
58.86 |
53.28 |
|
RECEIVABLES TURNOVER |
TIMES |
4.49 |
6.20 |
6.85 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
98.77 |
72.74 |
97.67 |
|
CASH CONVERSION CYCLE |
DAYS |
52.76 |
37.08 |
32.90 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
84.79 |
92.49 |
88.44 |
|
SELLING & ADMINISTRATION |
% |
9.00 |
9.30 |
8.92 |
|
INTEREST |
% |
1.43 |
1.52 |
1.61 |
|
GROSS PROFIT MARGIN |
% |
16.89 |
8.67 |
12.68 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.55 |
(0.74) |
3.74 |
|
NET PROFIT MARGIN |
% |
5.86 |
(2.26) |
2.14 |
|
RETURN ON EQUITY |
% |
6.53 |
(2.63) |
2.20 |
|
RETURN ON ASSET |
% |
3.70 |
(1.47) |
1.21 |
|
EARNING PER SHARE |
BAHT |
69.56 |
(26.17) |
22.90 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.43 |
0.44 |
0.45 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.77 |
0.78 |
0.81 |
|
TIME INTEREST EARNED |
TIMES |
5.27 |
(0.49) |
2.33 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
2.42 |
8.19 |
|
|
OPERATING PROFIT |
% |
(1,145.49) |
(121.37) |
|
|
NET PROFIT |
% |
365.84 |
(214.26) |
|
|
FIXED ASSETS |
% |
(3.36) |
(8.18) |
|
|
TOTAL ASSETS |
% |
5.95 |
(5.93) |
|
ANNUAL
GROWTH: SATISFACTORY
An annual sales growth is 2.42%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
16.89 |
Impressive |
Industrial
Average |
4.71 |
|
Net Profit Margin |
5.86 |
Impressive |
Industrial
Average |
3.49 |
|
Return on Assets |
3.70 |
Impressive |
Industrial Average |
3.69 |
|
Return on Equity |
6.53 |
Satisfactory |
Industrial
Average |
6.69 |
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. Gross Profit Margin is 16.89%. 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. Net Profit Margin ratio is 5.86%,
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
3.7%, 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. When compared with the
industry average, it was lower, the company's figure is 6.53%.
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 |
0.87 |
Risky |
Industrial
Average |
1.35 |
|
Quick Ratio |
0.56 |
|
|
|
|
Cash Conversion Cycle |
52.76 |
|
|
|
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 0.87 times in 2013, increase from 0.62 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 0.56 times in 2013,
increase from 0.41 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 53 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.43 |
Acceptable |
Industrial
Average |
0.43 |
|
Debt to Equity Ratio |
0.77 |
Impressive |
Industrial
Average |
0.76 |
|
Times Interest Earned |
5.27 |
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 lower the percentage means that the company is using less leverage
and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 5.27 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 0.43 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
0.92 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.63 |
Acceptable |
Industrial
Average |
1.06 |
|
Inventory Conversion Period |
70.19 |
|
|
|
|
Inventory Turnover |
5.20 |
Satisfactory |
Industrial
Average |
5.62 |
|
Receivables Conversion Period |
81.34 |
|
|
|
|
Receivables Turnover |
4.49 |
Satisfactory |
Industrial
Average |
5.45 |
|
Payables Conversion Period |
98.77 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.49 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 51 days at the
end of 2012 to 70 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 7.16 times in year 2012 to 5.2 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.63 times and 0.65
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 Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.