MIRA INFORM REPORT
|
Report No. : |
335730 |
|
Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
KLOECKNER PENTAPLAST [THAILAND]
LIMITED |
|
|
|
|
Registered Office : |
64/48 Moo 4, Eastern Seaboard Industrial Estate, Pluakdaeng, Rayong 21140, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
30.09.2014 |
|
|
|
|
Date of Incorporation : |
21.03.2001 |
|
|
|
|
Com. Reg. No.: |
0105544028493 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing and
exporting various kinds of
hard plastic films
including PVC film, PET film, PVC shrinkage and
PVC coated film, used
in foods, consumer
goods, printing and packaging, electronics
industries |
|
|
|
|
No. of Employee : |
200 |
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 |
|
|
|
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Payment Behaviour : |
Slow but correct |
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|
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
B1 |
A2 |
|
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, and generally pro-investment policies Thailand has historically had a strong economy due in part to competitive industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. The economy experienced slow growth and declining exports in 2014, in part due to domestic political turmoil and sluggish global demand. With full employment, Thailand attracts an estimated 2-4 million migrant workers from neighboring countries, and faces labor shortages. Following the May 2014 coup d’�tat, tourism decreased 6-7% but is beginning to recover. The household debt to GDP ratio is over 80%. 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 baht has remained stable.
|
Source
: CIA |
Company
name
KLOECKNER PENTAPLAST
[THAILAND] LIMITED
SUMMARY
BUSINESS
ADDRESS : 64/48
MOO 4, EASTERN SEABOARD
INDUSTRIAL
ESTATE,
PLUAKDAENG, RAYONG 21140,
THAILAND
TELEPHONE : [66] 38
927-400
FAX :
[66] 38
955-462
E-MAIL
ADDRESS : kpth.info@kpfilms.com
kpasia.salessupport@kpfilms.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2001
REGISTRATION
NO. : 0105544028493
TAX ID
NO. : 3030250599
CAPITAL REGISTERED : BHT. 830,000,000
CAPITAL PAID-UP : BHT.
830,000,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : SEPTEMBER 30
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. MARC PHILIPP
SETZEN, GERMAN
MANAGING DIRECTOR
NO.
OF STAFF : 200
LINES
OF BUSINESS : PLASTIC FILM MANUFACTURER, EXPORTER
AND DISTRIBUTOR
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
LOW PERFORMANCE
HISTORY
The
subject was established
on March 21,
2001 as a
private limited company
under the name style KLOECKNER
PENTAPLAST [THAILAND] LIMITED,
by Foreign groups,
in order to
manufacture hard plastic
film mainly for
exports. Its production
facilities are located
in Rayong province.
It currently employs
approximately 200 staff.
The
subject is a
wholly owned subsidiary
of Kloeckner Pentaplast
Nethelands B.V., the
Dutch company. It
is the only global manufacturer to offer overlay
film.
It
was granted a promotional privilege from Thailand’s Board
of Investment [BOI] for
the production.
The
subject’s registered address
was initially located
at 15th Floor,
Lake Ratchada Office
Complex, 193/59 Ratchadapisek
Rd., Klongtoey, Bangkok 10110.
In 2009, the
registered address was
relocated to 64/48
Moo 4, Eastern Seaboard Industrial
Estate, Pluakdaeng, Rayong
21140, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Markus Karl Josef
Hoelzl |
|
German |
57 |
|
Mr. Kumpol Nateethanasarn |
|
Thai |
47 |
|
Mr. Marc Philipp Setzen |
|
German |
46 |
|
Mr. Soros Yodmongkol |
|
Thai |
- |
|
Dr. Karl Robert Rainer
Rothermel |
|
German |
54 |
|
Ms. Rao Ying |
|
Chinese |
41 |
|
Mr. Stefan Brandt |
|
German |
46 |
AUTHORIZED
PERSON
Any two of
the above directors
can jointly sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Marc Philipp Setzen
is the Managing
Director.
He is German
nationality with the
age of 46
years old.
Mr. Soros Yodmongkol is
the Deputy Managing
Director/Factory Manager.
He is Thai
nationality.
Mr. Kumpol Nateethanasarn is
the G.M. and
Sales & Marketing
Director.
He is Thai nationality with
the age of 47 years
old.
BUSINESS
OPERATIONS
The subject is engaged
in manufacturing and
exporting various kinds of
hard plastic films
including PVC film, PET film, PVC shrinkage and
PVC coated film, used
in foods, consumer
goods, printing and packaging, electronics
industries and etc.
BRAND
NAME
“KP”
PRODUCTIONS
PVC film :
23,000 tons/year
PET film :
15,000 tons/year
PVC coated film : 6,700
tons/year
PVC shrinkage : 7,000 tons/year
PURCHASE
Most of raw
materials mainly resin
and chemical are
purchased from local
suppliers, the remaining
is imported from
Japan, Taiwan, Singapore,
India and Republic
of China.
MAJOR
SUPPLIER
IRPC Public Company
Limited : Thailand
EXPORT
85% of the products
is exported to
over 100 customers
mainly in Asia
such as Japan, Republic of China, Singapore,
Malaysia, Taiwan, Netherlands,
Indonesia, Laos, Vietnam, Philippines,
Bangladesh, Cambodia, Brunei,
Hong Kong, India and
U.S.A.
SALES
[LOCAL]
15% of the
products is also
sold locally to
manufacturers.
MAJOR
CUSTOMERS
Cloeren Incorporated : U.S.A.
Kris Flexipacks Pvt.
Ltd. : India
P.T. Indokoverta : Indonesia
Glaxo Smith Kline
Pte. Ltd. : Singapore
PARENT
COMPANY
Kloeckner
Pentaplast Netherlands B.V.
: Netherlands
It is the leading producer of plastic films for packaging, printing and specialty applications.
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
credit 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.
[Head Office :
333 Silom Rd., Silom, Bangrak,
Bangkok]
Kasikornbank Public Co.,
Ltd.
[Head Office :
1 Kasikorn Lane,
Rajburana Rd., Rajburana,
Bangkok]
EMPLOYMENT
The
subject employs approximately
200 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in industrial
area.
Branches/Sales Offices:
- 15th Floor,
Lake Ratchada Office
Complex, 193/59 Ratchadapisek
Rd., Klongtoey,
Bangkok 10110. Tel.:
[66] 2264-0450, 2264-0105
Fax: [66] 2264-0461.
- 4th Floor,
Vibulthani Tower, 3195/9
Rama IV Road,
Klongtoey, Bangkok 10110.
Tel.: [66] 2661-3248
Fax: [66] 2661-3252.
COMMENT
The
subject is the
leading manufacture of
outlay film. The
subject is well positioned with
a broad product and market
portfolio within its key
international markets. However,
industrial environment in
the country has
a negative impact
and this led
to a slowdown
from industrial consumption.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 2,100,000
divided into 21,000
shares of Bht.
100 each.
The
capital was increased
later as following:
Bht. 150,000,000 on
August 15, 2001
Bht. 250,000,000 on
November 6, 2003
Bht. 430,000,000 on
August 7, 2006
Bht. 630,000,000 on
March 28, 2011
Bht. 780,000,000 on
October 7, 2011
Bht. 830,000,000 on
July 15, 2013
The latest
registered capital was
increased to Bht.
830,000,000 divided into
8,300,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as
at January 26,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Kloeckner Pentaplast Netherlands
B.V. Nationality: Dutch Address : Netherlands |
8,299,800 |
100.00 |
|
Kloeckner Pentaplast of
America Nationality: American Address : Virginia,
U.S.A. |
100 |
- |
|
KP Investments Holdings
LLC. Nationality: American Address : Virginia,
U.S.A. |
100 |
- |
Total Shareholders : 3
Share Structure [as
at January 26,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
8,300,000 |
100.00 |
|
Total |
3 |
8,300,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Jariya Kantatho No. 10470
BALANCE SHEET [BAHT]
The
latest financial figures
published for September
30, 2014, 2013
& 2012 were:
ASSETS
[Unit
: Thousand Baht]
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
7,715 |
13,109 |
47,562 |
|
Trade Accounts & Other
Receivable |
277,630 |
261,996 |
263,196 |
|
Trade Accounts & Other
Receivable - Person
or Related Company |
45,302 |
33,602 |
65,258 |
|
Inventories |
105,625 |
165,186 |
174,165 |
|
|
|
|
|
|
Total Current Assets
|
436,272 |
473,893 |
550,181 |
|
Fixed Assets |
933,262 |
1,076,394 |
1,234,822 |
|
Intangible Assets |
9,881 |
10,959 |
- |
|
Deferred Income Tax
Assets |
27,756 |
24,306 |
24,306 |
|
Deposit |
1,834 |
1,858 |
2,414 |
|
Total Assets |
1,409,005 |
1,587,410 |
1,811,723 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
[Unit
: Thousand Baht]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institution |
78,200 |
183,050 |
221,745 |
|
Trade Accounts and
Other Payable |
231,100 |
208,868 |
231,127 |
|
Trade Accounts Payable - Related Company |
276,603 |
225,504 |
242,387 |
|
Current Portion of Long-term
Loan from Person
or Related Company |
100,000 |
100,000 |
200,000 |
|
Short-term Loan from Person
or Related Company |
51,710 |
53,332 |
- |
|
|
|
|
|
|
Total Current Liabilities |
737,613 |
770,754 |
895,259 |
|
Long-term Loan from
Person or Related Company |
75,000 |
175,000 |
250,000 |
|
Employee Benefit Obligation |
- |
860 |
688 |
|
Total Liabilities |
812,613 |
946,614 |
1,145,947 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized and
issued share capital 8,300,000 shares
in 2014 & 2013, 7,800,000 shares
in 2012 |
830,000 |
830,000 |
780,000 |
|
|
|
|
|
|
Capital Paid |
830,000 |
830,000 |
780,000 |
|
Retained Earning -
Unappropriated [Deficit] |
[233,608] |
[189,204] |
[114,224] |
|
Total Shareholders' Equity
[Deficit] |
596,392 |
640,796 |
665,776 |
|
Total Liabilities & Shareholders' Equity |
1,409,005 |
1,587,410 |
1,811,723 |
PROFIT & LOSS ACCOUNT
[Unit :
Thousand Baht]
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
1,541,694 |
1,585,178 |
1,656,624 |
|
Gain on Exchange Rate |
8,979 |
- |
- |
|
Other Income |
10,300 |
14,379 |
19,906 |
|
Total Revenues |
1,560,973 |
1,599,557 |
1,676,530 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,351,821 |
1,403,166 |
1,481,501 |
|
Selling Expenses |
146,020 |
148,718 |
159,662 |
|
Administrative Expenses |
86,189 |
91,046 |
98,003 |
|
Total Expenses |
1,584,030 |
1,642,930 |
1,739,166 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Costs & Income Tax |
[23,057] |
[43,373] |
[62,636] |
|
Financial Costs |
[24,797] |
[31,607] |
[36,574] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax |
[47,854] |
[74,980] |
[99,210] |
|
Income Tax [expenses
income tax] |
3,450 |
- |
[9,966] |
|
Net Profit / [Loss] |
[44,404] |
[74,980] |
[109,176] |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.59 |
0.61 |
0.61 |
|
QUICK RATIO |
TIMES |
0.45 |
0.40 |
0.42 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.65 |
1.47 |
1.34 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.09 |
1.00 |
0.91 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
28.52 |
42.97 |
42.91 |
|
INVENTORY TURNOVER |
TIMES |
12.80 |
8.49 |
8.51 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
65.73 |
60.33 |
57.99 |
|
RECEIVABLES TURNOVER |
TIMES |
5.55 |
6.05 |
6.29 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
62.40 |
54.33 |
56.94 |
|
CASH CONVERSION CYCLE |
DAYS |
31.85 |
48.96 |
43.96 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.68 |
88.52 |
89.43 |
|
SELLING & ADMINISTRATION |
% |
15.06 |
15.13 |
15.55 |
|
INTEREST |
% |
1.61 |
1.99 |
2.21 |
|
GROSS PROFIT MARGIN |
% |
13.57 |
12.39 |
11.77 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(1.50) |
(2.74) |
(3.78) |
|
NET PROFIT MARGIN |
% |
(2.88) |
(4.73) |
(6.59) |
|
RETURN ON EQUITY |
% |
(7.45) |
(11.70) |
(16.40) |
|
RETURN ON ASSET |
% |
(3.15) |
(4.72) |
(6.03) |
|
EARNING PER SHARE |
BAHT |
(5.35) |
(9.03) |
(14.00) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.58 |
0.60 |
0.63 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.36 |
1.48 |
1.72 |
|
TIME INTEREST EARNED |
TIMES |
(0.93) |
(1.37) |
(1.71) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(2.74) |
(4.31) |
|
|
OPERATING PROFIT |
% |
(46.84) |
(30.75) |
|
|
NET PROFIT |
% |
40.78 |
31.32 |
|
|
FIXED ASSETS |
% |
(13.30) |
(12.83) |
|
|
TOTAL ASSETS |
% |
(11.24) |
(12.38) |
|
ANNUAL
GROWTH : RISKY
An annual sales growth is -2.74%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
13.57 |
Impressive |
Industrial
Average |
6.40 |
|
Net Profit Margin |
(2.88) |
Deteriorated |
Industrial
Average |
6.53 |
|
Return on Assets |
(3.15) |
Deteriorated |
Industrial
Average |
8.31 |
|
Return on Equity |
(7.45) |
Deteriorated |
Industrial
Average |
13.76 |
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 13.57%. 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 -2.88%.
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 -3.15%.
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 -7.45%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.59 |
Risky |
Industrial
Average |
1.92 |
|
Quick Ratio |
0.45 |
|
|
|
|
Cash Conversion Cycle |
31.85 |
|
|
|
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 0.59 times in 2014, decreased from 0.61 times, then the company may
not be efficiently using its current assets. 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 0.45 times in 2014,
increased from 0.4 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 32 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.58 |
Acceptable |
Industrial
Average |
0.36 |
|
Debt to Equity Ratio |
1.36 |
Risky |
Industrial
Average |
0.56 |
|
Times Interest Earned |
(0.93) |
Risky |
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 -0.93 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.58 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.65 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.09 |
Satisfactory |
Industrial
Average |
1.27 |
|
Inventory Conversion Period |
28.52 |
|
|
|
|
Inventory Turnover |
12.80 |
Impressive |
Industrial
Average |
4.98 |
|
Receivables Conversion Period |
65.73 |
|
|
|
|
Receivables Turnover |
5.55 |
Impressive |
Industrial
Average |
4.84 |
|
Payables Conversion Period |
62.40 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.55 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 decreased from 43 days at the
end of 2013 to 29 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 8.49 times in year 2013 to 12.8 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.09 times and 1
times in 2014 and 2013 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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.