MIRA
INFORM REPORT
|
Report No. : |
317555 |
|
Report Date : |
22.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNION J. PLUS [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
85 Moo 6,
Sinsakorn Road, T. Khokkham, A. Muang, Samutsakorn
74000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
23.07.2001 |
|
|
|
|
Com. Reg. No.: |
0105544069068 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing, distributing and
exporting various kinds
of recycled plastic
materials for plastic
bags, plastic pipes,
plastic sheets, plastic
drums, household goods,
utensil, and water
tank production industries. |
|
|
|
|
No. of Employees : |
150 |
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 – 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 has had a strong economy due in part to industrial and agriculture
exports - mostly electronics, agricultural commodities, automobiles and parts,
and processed foods. Thailand 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 both
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. Government approved flood
mitigation projects, worth $11.7 billion, were started in 2012 to prevent a
repeat. Thai growth slowed in 2013 and has remained low since, as the country
faced political uncertainty and a coup in May 2014. The interim government is
implementing a special $11 billion short-term stimulus package and has approved
a budget of more than $80 billion to aid an economic rebound.
|
Source
: CIA |
Company name
UNION J. PLUS [THAILAND] CO., LTD.
SUMMARY
BUSINESS ADDRESS : 85 MOO 6,
SINSAKORN ROAD, T. KHOKKHAM,
A.
MUANG, SAMUTSAKORN 74000,
THAILAND
TELEPHONE : [66] 34
813-115-8, 081 843-7711
FAX : [66] 34
813-114
E-MAIL ADDRESS : unionjplus@yahoo.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2001
REGISTRATION NO. : 0105544069068
TAX ID NO. : 3030316325
CAPITAL REGISTERED : BHT.
50,000,000
CAPITAL PAID-UP : BHT.
16,250,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MS.
KULANART SIRIPHATI, THAI
MANAGING DIRECTOR
NO. OF STAFF : 150
LINES OF BUSINESS : RECYCLED PLASTIC
MATERIALS
MANUFACTURER, DISTRIBUTOR
AND 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 July
23, 2001 as
a private limited
company under the
registered name UNION
J. PLUS [THAILAND]
CO., LTD., by Thai group,
with the business objective to
manufacture and supply
various recycled materials
to packaging, container and
pipe industries. It
currently employs approximately
150 staff.
The subject’s registered
address is 85 Moo
6, Sinsakorn Road,
T. Khokkham,
A. Muang, Samutsakorn 74000,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Kulanart [Malinee] Siriphati |
|
Thai |
44 |
|
Ms. Chutikarn Chaisiripaiboon |
|
Thai |
44 |
On June 26,
2002, “Ms. Malinee Siriphati”
changed her name
to
“Ms. Kulanart Siriphati”.
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Ms. Kulanart Siriphati is
the Managing Director.
She is Thai
nationality with the
age of 44
years old.
Ms. Chutikarn
Chaisiripaiboon is the
Marketing Manager.
She is Thai
nationality with the
age of 44
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting various
kinds of recycled
plastic materials for
plastic bags, plastic
pipes, plastic sheets,
plastic drums, household
goods, utensil, and
water tank production
industries. The products
are as follows:
HDPE blown film,
blow molding, extrusion
and injection grade
LDPE blown film
grade
PP, HIPS and
ABS injection grade
CaCo3 master batch
PE and PP
BRAND NAME
“UNION J PLUS”
PRODUCTION CAPACITY
5,000 tons per
annum
PURCHASE
Raw materials are
purchased from suppliers
both domestic and
overseas, mainly in
Republic of China,
Taiwan and India.
SALES
60% of the
products is sold
by wholesale to
local customers, and
the remaining 40%
is exported to
Malaysia, Indonesia, Singapore, Vietnam, Japan,
Republic of China,
Korea, Philippines, Africa and
Myanmar.
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 to 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 currently
employs approximately 150
office staff and
factory workers.
LOCATION DETAILS
The premise is
owned for administrative office
and factory on
approximately 3,000 square
meters plot of
land at the
heading address. Premise
is located in
industrial area.
COMMENT
The
subject processes of
waste plastic
and reprocessing the
material into useful products.
The subject
has given the
importance of the recycled
market by reusing
the recycled products. This idea
is to reduce
wastes, pollutions, production cost for
the plastic products
manufacturers, and has given more
choices for consumers
to choose the products.
The subject maintains
good business growth.
FINANCIAL
INFORMATION
The capital was
registered at Bht.
1,000,000 divided into 10,000
shares of Bht. 100
each with fully
paid.
The capital was
increased later as
follows:
Bht. 5,000,000
on October 18,
2004
Bht. 50,000,000
on June 10,
2014
The registered capital
was increased to
Bht. 50,000,000 divided into
500,000 shares of
Bht. 100 each, with the
current capital paid-up
at Bht. 16,250,000
or 450,000 shares
of Bht. 25
each and 50,000
shares of Bht.
100 each.
THE SHAREHOLDERS LISTED
WERE : [as at
June 5, 2014]
at Bht. 16,250,000
of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Kulanart Siriphati Nationality: Thai Address : 264-266
Soi Charoennakorn 14,
Klongtonsai, Klongsan, Bangkok
|
395,000 |
79.00 |
|
Ms. Chutikarn Chaisiripaiboon Nationality: Thai Address : 108
Soi Praengsappasart, Sanchaoporsua,
Phranakorn, Bangkok |
100,000 |
20.00 |
|
Mr. Setthawut Siriphati Nationality: Thai Address : 264-266
Soi Charoennakorn 14,
Klongtonsai, Klongsan, Bangkok
|
5,000 |
1.00 |
Total Shareholders : 3
Share Structure [as
at June 5, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
500,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
500,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Ms. Krisana Siripatcharawong No.
6584
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
|
12,793,175.40 |
8,671,430.85 |
12,054,711.39 |
|
Short-term Investment |
2,035,848.04 |
2,017,868.83 |
2,000,000.00 |
|
Trade Account & Other
Receivable |
128,106,645.96 |
90,934,223.26 |
78,758,833.21 |
|
Short-term Loans to
Person or Related Company |
15,300,000.00 |
- |
- |
|
Inventories |
33,339,233.02 |
38,178,565.84 |
27,084,759.19 |
|
Other Current Assets
|
9,139,814.66 |
22,899,849.27 |
20,473,706.59 |
|
|
|
|
|
|
Total Current Assets
|
200,714,717.08 |
162,701,938.05 |
140,372,010.38 |
|
Fixed Assets |
27,596,088.83 |
28,453,861.15 |
21,545,256.04 |
|
Other Non-current Assets |
2,401,266.62 |
2,402,025.52 |
2,901,600.00 |
|
Total Assets |
230,712,072.53 |
193,557,824.72 |
164,818,866.42 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institution |
139,756,479.91 |
87,077,571.48 |
116,319,917.86 |
|
Trade Account Payable |
69,401,962.78 |
41,444,558.04 |
23,897,734.01 |
|
Current Portion of
Long-term Loan |
547,783.54 |
1,020,144.31 |
608,635.70 |
|
Short-term Loan from
Person or Related Company |
- |
47,000,000.00 |
9,000,000.00 |
|
Other Current Liabilities |
2,840,279.82 |
1,565,704.88 |
2,523,475.39 |
|
|
|
|
|
|
Total Current Liabilities |
212,546,506.05 |
178,107,978.71 |
152,349,762.96 |
|
Long-term Loan from
Person or Related
Company |
512,514.69 |
674,039.07 |
323,867.11 |
|
Total Liabilities |
213,059,020.74 |
178,782,017.78 |
152,673,630.07 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value authorized, issued
and fully paid
share capital
50,000 shares |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning - Unappropriated
[Deficit] |
12,653,051.79 |
9,775,806.94 |
7,145,236.36 |
|
Total Shareholders' Equity |
17,653,051.79 |
14,775,806.94 |
12,145,236.36 |
|
Total Liabilities &
Shareholders' Equity |
230,712,072.53 |
193,557,824.72 |
164,818,866.42 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales - Domestic
|
403,711,426.96 |
341,160,279.04 |
261,877,268.14 |
|
Sales - Overseas |
147,707,318.29 |
116,812,656.01 |
124,209,158.89 |
|
Logistics Income |
6,962,514.05 |
3,826,254.49 |
8,425,158.09 |
|
Gain on Exchange
Rate |
- |
845,350.95 |
1,319,692.96 |
|
Other Income |
1,359,210.22 |
597,268.40 |
717,327.24 |
|
Total Revenues |
559,740,469.52 |
463,241,808.89 |
396,548,605.32 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
522,272,149.17 |
428,681,985.77 |
368,751,329.49 |
|
Selling Expenses |
12,652,476.66 |
10,730,610.56 |
11,092,079.13 |
|
Administrative Expenses |
14,319,461.33 |
13,491,521.44 |
13,000,643.86 |
|
Other Expenses |
1,825320.06 |
- |
- |
|
Total Expenses |
551,069,407.22 |
452,904,117.77 |
392,844,052.48 |
|
|
|
|
|
|
Profit / Loss] before Financial
Cost & Income Tax |
8,671,062.30 |
10,337,691.12 |
3,704,552.84 |
|
Financial Cost |
[4,801,146.02] |
[6,685,224.72] |
[2,201,899.58] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
3,869,916.28 |
3,652,466.40 |
1,502,653.26 |
|
Income Tax |
[992,671.43] |
[1,021,895.82] |
[484,931.91] |
|
Net Profit / [Loss] |
2,877,244.85 |
2,630,570.58 |
1,017,721.35 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.94 |
0.91 |
0.92 |
|
QUICK RATIO |
TIMES |
0.74 |
0.57 |
0.61 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
20.23 |
16.23 |
18.31 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.42 |
2.39 |
2.39 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
23.30 |
32.51 |
26.81 |
|
INVENTORY TURNOVER |
TIMES |
15.67 |
11.23 |
13.61 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
83.74 |
71.87 |
72.87 |
|
RECEIVABLES TURNOVER |
TIMES |
4.36 |
5.08 |
5.01 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
48.50 |
35.29 |
23.65 |
|
CASH CONVERSION CYCLE |
DAYS |
58.54 |
69.09 |
76.02 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
93.53 |
92.83 |
93.47 |
|
SELLING & ADMINISTRATION |
% |
4.83 |
5.25 |
6.11 |
|
INTEREST |
% |
0.86 |
1.45 |
0.56 |
|
GROSS PROFIT MARGIN |
% |
6.71 |
7.48 |
7.05 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.55 |
2.24 |
0.94 |
|
NET PROFIT MARGIN |
% |
0.52 |
0.57 |
0.26 |
|
RETURN ON EQUITY |
% |
16.30 |
17.80 |
8.38 |
|
RETURN ON ASSET |
% |
1.25 |
1.36 |
0.62 |
|
EARNING PER SHARE |
BAHT |
57.54 |
52.61 |
20.35 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.92 |
0.92 |
0.93 |
|
DEBT TO EQUITY RATIO |
TIMES |
12.07 |
12.10 |
12.57 |
|
TIME INTEREST EARNED |
TIMES |
1.81 |
1.55 |
1.68 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
20.91 |
17.06 |
|
|
OPERATING PROFIT |
% |
(16.12) |
179.05 |
|
|
NET PROFIT |
% |
9.38 |
158.48 |
|
|
FIXED ASSETS |
% |
(3.01) |
32.07 |
|
|
TOTAL ASSETS |
% |
19.20 |
17.44 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 20.91%. Turnover has increased from THB
461,799,189.54 in 2012 to THB 558,381,259.30 in 2013. While net profit has
increased from THB 2,630,570.58 in 2012 to THB 2,877,244.85 in 2013. And total
assets has increased from THB 193,557,824.72 in 2012 to THB 230,712,072.53 in
2013.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
6.71 |
Deteriorated |
Industrial Average |
28.42 |
|
Net Profit Margin |
0.52 |
Deteriorated |
Industrial Average |
2.27 |
|
Return on Assets |
1.25 |
Acceptable |
Industrial Average |
2.17 |
|
Return on Equity |
16.30 |
Impressive |
Industrial Average |
4.25 |
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 6.71%. 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 0.52%.
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 1.25%.
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 16.3%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.94 |
Risky |
Industrial Average |
1.24 |
|
Quick Ratio |
0.74 |
|
|
|
|
Cash Conversion Cycle |
58.54 |
|
|
|
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 0.94 times in 2013, increased from 0.91 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 0.74 times in 2013,
increased from 0.57 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 59 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.92 |
Acceptable |
Industrial Average |
0.54 |
|
Debt to Equity Ratio |
12.07 |
Risky |
Industrial Average |
1.18 |
|
Times Interest Earned |
1.81 |
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 1.81 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 0.92 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 |
20.23 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.42 |
Impressive |
Industrial Average |
0.95 |
|
Inventory Conversion Period |
23.30 |
|
|
|
|
Inventory Turnover |
15.67 |
Impressive |
Industrial Average |
6.09 |
|
Receivables Conversion Period |
83.74 |
|
|
|
|
Receivables Turnover |
4.36 |
Impressive |
Industrial Average |
3.92 |
|
Payables Conversion Period |
48.50 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.36 and 5.08 in
2013 and 2012 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2013
decreased from 2012. This would suggest the company had deteriorated in the
management of its debt collections.
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 33 days at the
end of 2012 to 23 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 11.23 times in year 2012 to 15.67
times in year 2013.
The company's Total Asset Turnover is calculated as 2.42 times and 2.39
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.62.92 |
|
|
1 |
Rs.93.57 |
|
Euro |
1 |
Rs.67.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.