MIRA INFORM REPORT
|
Report No. : |
319771 |
|
Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
FIRM SUPPLIES CO., LTD. |
|
|
|
|
Registered Office : |
68 Moo 2, T. Salaklang, A. Bangkruay, Nonthaburi 11130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
02.01.1987 |
|
|
|
|
Com. Reg. No.: |
0105530000303 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is engaged in
importing and distributing of
electrical insulator, industrial
measuring equipments, copper
wires, electric wires
and cables. |
|
|
|
|
No. of Employees : |
26 |
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 and address
FIRM
SUPPLIES CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 68
MOO 2, T.
SALAKLANG, A. BANGKRUAY,
NONTHABURI 11130,
THAILAND
TELEPHONE : [66] 2449-2449,
2449-2443-4, 2490-4481-8
FAX :
[66] 2490-4489,
2490-4480
E-MAIL
ADDRES : tvtfirm@ksc.th.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1987
REGISTRATION
NO. : 0105530000303 [Former
: 32/2530]
TAX
ID NO. : 3101422962
CAPITAL REGISTERED : BHT. 4,000,000
CAPITAL PAID-UP : BHT.
4,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
TANIN VASINYONT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 26
LINES
OF BUSINESS : MEASURING &
ELECTRICAL EQUIPMENTS
IMPORTER &
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 January 2,
1987 as a
private limited company
under the name style FIRM
SUPPLIES CO., LTD. by Thai
groups, in order to distribute
electrical insulator and
measuring equipment for
local market. It currently employs 26 staff.
The subject’s registered
address was initially at
1149/50 Klongbangkokyai Rd.,
Kuhasawan, Pasicharoen, Bangkok
10160.
On January 22,
2007, subject’s registered
address was relocated
to 68 Moo 2,
T. Salaklang, A. Bangkruay,
Nonthaburi 11130, and
this is the
subject’s current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Tanin Vasinyont |
[x] |
Thai |
55 |
|
Mr. Sathit Vasinyont |
|
Thai |
52 |
|
Mrs. Thitiporn Vasinyont |
[x] |
Thai |
53 |
AUTHORIZED PERSON
One the mentioned
directors [x] signs
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Tanin Vasinyont is
the Managing Director.
He is Thai
nationality with the
age of 55 years
old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing of
electrical insulator, industrial
measuring equipments, copper
wires, electric wires
and cables. Its
products are imported
by customer’s order.
MAJOR BRANDS
“EFSEX” : U.S.A.
“AUGUST KREMPEL” :
Germany
“PDG” : U.S.A.
“VONROLL ISOLA” :
Switzerland & Italy
“P. LEO” : Canada
“ELANTAS” : Germany
IMPORT
[COUNTRIES]
Most of the
products are imported
from Germany, U.S.A.,
Canada, Singapore, Taiwan,
Republic of China,
Switzerland and Italy,
and the rest
is purchased locally.
MAJOR SUPPLIERS
August Krempel Soehne
GmbH. : Germany
Von Roll Holding
AG. : Switzerland
Von Roll Isola
Asia Pte. Ltd. : Singapore
P. Leo & Co [B.C.] Ltd. : Canada
Altana AG. : Germany
SALES [LOCAL]
100% of the products
are supplied locally mainly
to power plant
and electric system
contractors, the remaining
is sold to
dealers nationwide.
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 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.
Charansanitwong 11 Branch : 53/2
Charansanitwong Rd., Bangkokyai,
Pasicharoen,
Bangkok 10160
Dowkanong
Branch : 911
Somdejprachaotaksin Rd., Bukkalo,
Thonburi, Bangkok 10600
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The subject currently
employs 26 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is
owned for administrative office
and warehouse in
a 3 storey
building of 2 row
shop houses at the heading address. Premise is
located in commercial/residential area.
COMMENT
The
subject provides products
with good quality
and well known
brands. Subject still
maintains its good
business despite slowdown
of overall economy.
Subject
has good performance,
however, current economic
slowdown and decline
purchasing power would
affect subject’s sales
revenue for this
year.
FINANCIAL INFORMATION
The capital was
registered at Bht.
500,000 divided into
5,000 shares of
Bht. 100 each.
The capital was
increased later as
follows:
Bht. 1,500,000 on
July 29, 2002
Bht. 4,000,000 on
July 19, 2005
The latest capital
was increased to
Bht. 4,000,000 divided
into 40,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE
[as at April
30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Tanin Vasinyont Nationality: Thai Address : 1149/50
Klongbangkokyai Rd., Kuhasawan, Pasicharoen, Bangkok
10160 |
25,000 |
62.50 |
|
Mrs. Thitiporn Vasinyont Nationality: Thai Address : 1149/50
Klongbangkokyai Rd., Kuhasawan, Pasicharoen, Bangkok
10160 |
13,500 |
33.75 |
|
Mr. Sathit Vasinyont Nationality: Thai Address : 1149/50
Klongbangkokyai Rd., Kuhasawan, Pasicharoen, Bangkok
10160 |
500 |
1.25 |
|
Ms. Malinee Vasinyont Nationality: Thai Address : 11/26
Moo 9, Klongnongyai Rd.,
Bangmod, Pasicharoen, Bangkok
|
250 |
|
|
Mr. Kamol Tantinarawat Nationality: Thai Address : 259/162
Petchkasem Rd., Pakklongpasicharoen, Pasicharoen, Bangkok |
250 |
= 2.50 |
|
Mrs. Suchada Kerdrat Nationality: Thai Address : 90/75
Prachasongkroh Rd., Huaykwang, Bangkok 10310 |
250 |
|
|
Ms. Pranee Khunmuang Nationality: Thai Address : 1652
Soi Rimklongbangkokyai, Kuhasawan,
Pasicharoen, Bangkok 10160 |
250 |
|
Total Shareholders : 7
Share Structure
[as at April
30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
40,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
40,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Usana Srisornkampol No.
5605
BALANCE
SHEET
The
latest financial figures
published as at
December 31, 2013,
2012 & 2011
were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
5,776,902.37 |
207,380.00 |
121,710.00 |
|
Inventories |
44,012,677.01 |
34,969,519.92 |
37,602,033.88 |
|
Trade Accounts Receivable |
25,681,280.46 |
26,961,281.48 |
24,105,616.77 |
|
Other Current Assets |
265,804.85 |
155,768.24 |
170,502.12 |
|
|
|
|
|
|
Total Current Assets
|
75,736,664.69 |
62,293,949.64 |
61,999,862.77 |
|
|
|
|
|
|
Fixed Assets |
25,805,130.09 |
23,195,084.15 |
22,113,327.32 |
|
Long-term Lending to Person
or Related Company |
11,000,000.00 |
11,592,571.00 |
8,892,571.00 |
|
Other Non current
Assets |
2,012,670.10 |
818,395.88 |
967,932.44 |
|
Total Assets |
114,554,464.88 |
97,900,000.67 |
93,973,693.53 |
LIABILITIES & SHAREHOLDERS'
EQUITY
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft |
2,254,091.02 |
3,304,868.09 |
7,267,864.00 |
|
Trade Accounts Payable |
22,261,444.17 |
13,905,547.48 |
13,175,103.32 |
|
Current Portion of Hire-purchase Payable |
1,564,768.22 |
1,393,792.46 |
- |
|
Other Current Liabilities |
5,259,375.55 |
5,462,251.43 |
5,839,391.01 |
|
|
|
|
|
|
Total Current Liabilities |
31,339,678.96 |
24,066,459.46 |
26,282,358.33 |
|
Non-Current Liabilities |
|
|
|
|
Long-term Loan from Financial Institution |
- |
654,062.84 |
3,076,438.38 |
|
Long-term Loan from
Person or Related Company |
- |
1,000,000.00 |
2,048,598.14 |
|
Hire-purchase Payable, Net |
3,567,326.60 |
793,145.50 |
- |
|
Promissory Note |
- |
2,000,000.00 |
2,000,000.00 |
|
Total Non-Current
Liabilities |
3,567,326.60 |
4,447,208.34 |
7,125,036.52 |
|
|
|
|
|
|
Total Liabilities |
34,907,005.56 |
28,513,667.80 |
33,407,394.85 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
Share Capital : Baht. 100
par value authorized issued
and fully paid share capital
40,000 shares |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
|
|
|
|
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning,
Unappropriated |
75,647,459.32 |
65,386,332.87 |
56,566,298.68 |
|
Total Shareholders' Equity |
79,647,459.32 |
69,386,332.87 |
60,566,298.68 |
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
114,554,464.88 |
97,900,000.67 |
93,973,693.53 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
116,569,724.31 |
113,401,363.77 |
85,437,807.56 |
|
Other Revenues |
1,971,371.09 |
1,130,194.76 |
258,244.39 |
|
Total Revenues |
118,541,095.40 |
114,531,558.53 |
85,696,051.95 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
78,879,822.38 |
78,110,037.91 |
56,617,073.92 |
|
Selling Expenses |
6,718,655.71 |
6,947,410.15 |
5,063,198.23 |
|
Administrative Expenses |
18,108,062.45 |
16,046,519.86 |
13,879,574.25 |
|
Other Expenses |
235,196.93 |
- |
14,605.90 |
|
Total Expenses |
103,941,737.47 |
101,103,967.92 |
75,574,452.30 |
|
|
|
|
|
|
Profit /[Loss] before Financial
Cost & Income Tax |
14,599,357.93 |
13,427,590.61 |
10,121,599.65 |
|
Financial Cost |
[1,710,762.82] |
[1,682,010.05] |
[1,716,232.74] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
12,888,595.11 |
11,745,580.56 |
8,405,366.91 |
|
Income Tax |
[2,627,468.66] |
[2,925,546.37] |
[2,416,147.68] |
|
Net Profit / [Loss] |
10,261,126.45 |
8,820,034.19 |
5,989,219.23 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.42 |
2.59 |
2.36 |
|
QUICK RATIO |
TIMES |
1.00 |
1.13 |
0.92 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.52 |
4.89 |
3.86 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.02 |
1.16 |
0.91 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
203.66 |
163.41 |
242.41 |
|
INVENTORY TURNOVER |
TIMES |
1.79 |
2.23 |
1.51 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
80.41 |
86.78 |
102.98 |
|
RECEIVABLES TURNOVER |
TIMES |
4.54 |
4.21 |
3.54 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
103.01 |
64.98 |
84.94 |
|
CASH CONVERSION CYCLE |
DAYS |
181.06 |
185.21 |
260.46 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
67.67 |
68.88 |
66.27 |
|
SELLING & ADMINISTRATION |
% |
21.30 |
20.28 |
22.17 |
|
INTEREST |
% |
1.47 |
1.48 |
2.01 |
|
GROSS PROFIT MARGIN |
% |
34.02 |
32.12 |
34.04 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.52 |
11.84 |
11.85 |
|
NET PROFIT MARGIN |
% |
8.80 |
7.78 |
7.01 |
|
RETURN ON EQUITY |
% |
12.88 |
12.71 |
9.89 |
|
RETURN ON ASSET |
% |
8.96 |
9.01 |
6.37 |
|
EARNING PER SHARE |
BAHT |
256.53 |
220.50 |
149.73 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.30 |
0.29 |
0.36 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.44 |
0.41 |
0.55 |
|
TIME INTEREST EARNED |
TIMES |
8.53 |
7.98 |
5.90 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
2.79 |
32.73 |
|
|
OPERATING PROFIT |
% |
8.73 |
32.66 |
|
|
NET PROFIT |
% |
16.34 |
47.27 |
|
|
FIXED ASSETS |
% |
11.25 |
4.89 |
|
|
TOTAL ASSETS |
% |
17.01 |
4.18 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 2.79%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
34.02 |
Impressive |
Industrial
Average |
10.51 |
|
Net Profit Margin |
8.80 |
Impressive |
Industrial
Average |
1.12 |
|
Return on Assets |
8.96 |
Impressive |
Industrial
Average |
2.16 |
|
Return on Equity |
12.88 |
Impressive |
Industrial
Average |
6.33 |
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 34.02%. 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 8.8% 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
8.96%, 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 12.88%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profits 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 |
2.42 |
Impressive |
Industrial Average |
1.26 |
|
Quick Ratio |
1.00 |
|
|
|
|
Cash Conversion Cycle |
181.06 |
|
|
|
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 2.42 times in 2013, decreased from 2.59 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 1 times in 2013,
decreased from 1.13 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 182 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.30 |
Impressive |
Industrial
Average |
0.69 |
|
Debt to Equity Ratio |
0.44 |
Impressive |
Industrial
Average |
2.25 |
|
Times Interest Earned |
8.53 |
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 8.54 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 0.3 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
4.52 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.02 |
Acceptable |
Industrial
Average |
1.92 |
|
Inventory Conversion Period |
203.66 |
|
|
|
|
Inventory Turnover |
1.79 |
Deteriorated |
Industrial
Average |
4.10 |
|
Receivables Conversion Period |
80.41 |
|
|
|
|
Receivables Turnover |
4.54 |
Impressive |
Industrial
Average |
2.80 |
|
Payables Conversion Period |
103.01 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.54 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 163 days at the
end of 2012 to 204 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 2.23 times in year 2012 to 1.79 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.02 times and 1.16
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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.20 |
|
|
1 |
Rs.97.10 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.