MIRA INFORM REPORT
|
Report No. : |
352443 |
|
Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
IWATANI
CORPORATION [THAILAND] LTD. |
|
|
|
|
Formerly Known As : |
IWATANI INTERNATIONAL CORPORATION [THAILAND]
LTD. |
|
|
|
|
Registered Office : |
Room 2903, 29th Floor, United Center Building, 323 Silom Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
25.01.1990 |
|
|
|
|
Com. Reg. No.: |
0105533010563 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer,
Distributor and Exporter of International Trading Company |
|
|
|
|
No. of Employees : |
40 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
A2 |
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'etat, 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
IWATANI CORPORATION [THAILAND] LTD.
[FORMER :
IWATANI INTERNATIONAL CORPORATION [THAILAND] LTD.]
SUMMARY
BUSINESS
ADDRESS : ROOM
2903, 29th FLOOR, UNITED CENTER BUILDING,
323 SILOM
ROAD, SILOM, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2231-1764 -8
FAX :
[66] 2231-1769
E-MAIL
ADDRESS : info@iwatani.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1990
REGISTRATION
NO. : 0105533010563
[Former : 1054/2533]
TAX
ID NO. : 3101788396
CAPITAL REGISTERED : BHT. 300,000,000
CAPITAL PAID-UP : BHT.
202,000,000
SHAREHOLDER’S PROPORTION : FOREIGN
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
HIROYUKI KURAMOTO, JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 40
LINES
OF BUSINESS : INTERNATIONAL TRADING
COMPANY
IMPORTER,
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 January 25, 1990
as a private
limited company under
the registered name
IWATANI INTERNATIONAL CORPORATION
[THAILAND] LTD., initially
by a joint investment
between Thai and Japanese groups,
in order to engage in
international trading business.
On September
4, 2008 the
subject’s name was
changed to IWATANI
CORPORATION [THAILAND] LTD.
It currently employs
approximately 40 staff.
Presently,
the subject is
a subsidiary of
Iwatani Corporation, which
is holding around
99.86% of subject’s
total shares.
The
subject’s registered address
is Room 2903,
29th Floor, United
Center Bldg.,
323 Silom Rd., Silom, Bangrak, Bangkok 10500, and
this is the
subject’s current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Tomohiko Takehana |
|
Japanese |
50 |
|
Mr. Hiroyuki Kuramoto |
|
Japanese |
53 |
|
Mr. Kenji Motoori |
|
Japanese |
50 |
|
Mr. Hiroshi Kimura |
|
Japanese |
53 |
AUTHORIZED
PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Hiroyuki Kuramoto is
the Managing Director.
He is Japanese
nationality with the
age of 53
years old.
Mr. Yoichi Iida is
the General Manager.
He is Japanese
nationality.
Mr. Masahiko Yasuda is
the Sales Manager
of Machinery Division.
He is Japanese
nationality.
Mr. Zatoshi Nakayama is
the Sales Manager
of Metal Division.
He is Japanese
nationality.
Mr. Hiroshi Tanaka is
the Sales Manager
of Chemical &
Ceramic Division.
He is Japanese
nationality.
Mr. Mazaki Hirakushi is
the Sales Manager
of Semiconductor Division.
He is Japanese
nationality.
BUSINESS
OPERATIONS
The subject is
engaged in international
trading business by
importing, distributing and
exporting wide range
of products, including
industrial machinery, semiconductors, metals,
ceramics, chemicals, industrial
gases, LPG pressure
vessel, heat resistance
paints for motorcycles, automotive accessories, and materials for ceramics and industrial parts, wooden
products, as well as
cooking equipment, such
as portable gas cooking stoves, cooking
torch, gas match
and etc.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas in Japan,
Singapore, Republic of
China, Taiwan, India, Germany,
France, United Kingdom
and United States
of America.
MAJOR
SUPPLIERS
Iwatani
Corporation : Japan
Iwatani
Industrial Gas Pte.
Ltd. : Singapore
Guangzhou
Iwatani Trading Co.,
Ltd. : Republic
of China
Dandong
Iwatani Toyo Gas
Meter Co., Ltd. : Republic
of China
SALES
The products are
sold locally to wholesalers
and end-users.
EXPORT [COUNTRIES]
The products are
exported to Japan,
Singapore, Malaysia, Republic
of China, Taiwan,
Hong Kong, India, Indonesia, Australia,
Brunei, Vietnam, Myanmar
and Cambodia.
MAJOR CUSTOMER
S.K.I. Ceramic Co.,
Ltd. : Thailand
PARENT
COMPANY
Iwatani Corporation
Address: 4-8 Homashi
3 Chome, Chuo-ku,
Osaka, Japan
SUBSIDIARY
AND AFFILIATED COMPANY
Iwatani Gas and
Machinery [Thailand] Ltd.
Business Type :
Maintenance service of
industrial machinery
ASSOCIATED
COMPANY
Bangkok AI-TOA Co.,
Ltd.
Business Type :
Manufacturer and distributor
of metal coating
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 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.
BUSINESS
TRANSACTION
The products
are sold both
by cash and
credit, with the maximum
credit given at 30–
60 days.
There is no
problem on its
account receivable.
BANKING
The Siam Commercial
Bank Public Co., Ltd.
[Head Office :
9 Ratchadapisek Rd.,
Jompol, Jatujak, Bangkok
10900]
Bangkok Bank Public
Co., Ltd.
[Head Office :
333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
Bank of Tokyo - Mitsubishi UFJ
Ltd.
[Bangkok Branch :
54 North Sathorn
Rd., Silom, Bangrak,
Bangkok 10500]
EMPLOYMENT
The
subject employs approximately
40 staff [office and
sales staff].
LOCATION
DETAILS
The
premise is rented
for administrative office
on 29th floor
in a multi-storey building at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
The subject is the leading
company in trading of various industrial
goods including raw materials for
industries and finished goods for wholesale and end-users. In 2014-2015 raw materials for various
industries such as chemical, steel tools and machinery have been declining
in accordance with
slow demand from industrial
sector.
FINANCIAL
INFORMATION
The
capital was registered at
Bht. 6,000,000 divided into
6,000 shares of Bht. 1,000
each with fully
paid.
The
capital was increased
later as follows:
Bht. 10,000,000
on September 20,
2004
Bht. 20,000,000
on May 27,
2008
Bht. 300,000,000
on December 21,
2009
The
latest registered capital
was increased to
Bht. 300,000,000 divided
into 300,000 shares
of Bht. 1,000
each, with a
current capital paid-up
at Bht. 202,000,000
divided into 280,000
shares of Bht.
650 each and
20,000 shares of
Bht. 1,000 each.
THE
SHAREHOLDERS LISTED WERE
[as
at March 20, 2015]
at Bht. 202,000,000
of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Iwatani Corporation Nationality: Japanese Address : 4-8 Homashi
3 Chome, Chuo-ku,
Osaka, Japan |
299,600 |
99.86 |
|
Iwatani Corporation [M] Sdn. Bhd. Nationality: Malaysian Address : Kuala
Lumpur, Malaysia |
200 |
0.07 |
|
Iwatani Industrial Gas
Pte. Ltd. Nationality: Singaporean Address : 13
Pioneer Sector 3, Julong
Industrial Estate, Singapore |
200 |
0.07 |
Total Shareholders : 3
Share
Structure
[as at March
20, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
300,000 |
100.00 |
|
Total |
3 |
300,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Sakda Kaothanthong No.
4628
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December
31, 2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
170,158,001 |
182,343,979 |
130,256,233 |
|
Trade Accounts Receivable
|
408,748,048 |
517,022,275 |
566,220,424 |
|
Inventories |
55,647,226 |
40,069,631 |
67,236,863 |
|
Refundable Value Added
Tax |
35,290,516 |
11,124,246 |
2,089,844 |
|
Advance Payment for Inventories |
2,112,204 |
572,595 |
44,280,069 |
|
Other Current Assets
|
4,355,971 |
5,113,926 |
7,374,100 |
|
|
|
|
|
|
Total Current Assets
|
676,311,966 |
756,246,652 |
817,457,533 |
|
Investment in Associated Company |
3,920,000 |
3,920,000 |
3,920,000 |
|
Investment in Subsidiary Company |
62,968,125 |
62,968,125 |
37,718,125 |
|
Other Long-term Investment |
7,987,125 |
6,168,000 |
6,419,300 |
|
Equipment |
3,153,391 |
4,059,838 |
4,852,342 |
|
Intangible Assets |
1,862,427 |
1,963,942 |
2,247,751 |
|
Other Non-current Assets |
4,654,517 |
4,276,011 |
5,351,234 |
|
Total Assets |
760,857,551 |
839,602,568 |
877,966,285 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Trade Accounts Payable
|
356,582,529 |
428,156,409 |
497,326,570 |
|
Other Payable |
30,533,841 |
43,243,841 |
27,665,035 |
|
Advance Income from
Goods |
74,009 |
15,609,036 |
49,811,364 |
|
Accrued Income Tax |
9,100,751 |
8,889,550 |
8,766,339 |
|
Other Current Liabilities |
3,369,980 |
2,935,492 |
15,462,658 |
|
|
|
|
|
|
Total Current Liabilities |
399,661,110 |
498,834,328 |
599,031,966 |
|
Estimated Employee Benefit |
5,805,600 |
5,179,800 |
5,134,600 |
|
Total Liabilities |
405,466,710 |
504,014,128 |
604,166,566 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value Authorized and
issued share capital
300,000 shares |
300,000,000 |
300,000,000 |
300,000,000 |
|
|
|
|
|
|
Capital Paid |
202,000,000 |
202,000,000 |
202,000,000 |
|
Retained Earnings: Appropriated for statutory
reserve |
18,620,802 |
13,622,466 |
10,033,701 |
|
Unappropriated |
134,770,039 |
119,965,974 |
61,766,018 |
|
Total Shareholders' Equity |
355,390,841 |
335,588,440 |
273,799,719 |
|
Total Liabilities &
Shareholders' Equity |
760,857,551 |
839,602,568 |
877,966,285 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
2,494,384,560 |
2,552,243,108 |
2,724,589,916 |
|
Gain on Exchange Rate |
187,771 |
7,657,192 |
981,601 |
|
Other Income |
15,132,905 |
15,599,853 |
18,244,683 |
|
Total Revenues |
2,509,705,236 |
2,575,500,153 |
2,743,816,200 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
2,245,211,861 |
2,301,911,430 |
2,494,419,710 |
|
Selling Expenses |
120,738,725 |
121,005,410 |
116,961,466 |
|
Administrative Expenses |
32,647,526 |
31,556,992 |
36,593,529 |
|
Total Expenses |
2,398,598,112 |
2,454,473,832 |
2,647,974,705 |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
111,107,124 |
121,026,321 |
95,841,495 |
|
Financial Costs |
[21,210,723] |
[21,059,600] |
[24,066,182] |
|
|
|
|
|
|
Net Profit / [Loss] |
89,896,401 |
99,966,721 |
71,775,313 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.69 |
1.52 |
1.36 |
|
QUICK RATIO |
TIMES |
1.45 |
1.40 |
1.16 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
791.02 |
628.66 |
561.50 |
|
TOTAL ASSETS TURNOVER |
TIMES |
3.28 |
3.04 |
3.10 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
9.05 |
6.35 |
9.84 |
|
INVENTORY TURNOVER |
TIMES |
40.35 |
57.45 |
37.10 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
59.81 |
73.94 |
75.85 |
|
RECEIVABLES TURNOVER |
TIMES |
6.10 |
4.94 |
4.81 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
57.97 |
67.89 |
72.77 |
|
CASH CONVERSION CYCLE |
DAYS |
10.89 |
12.40 |
12.92 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
90.01 |
90.19 |
91.55 |
|
SELLING & ADMINISTRATION |
% |
6.15 |
5.98 |
5.64 |
|
INTEREST |
% |
0.85 |
0.83 |
0.88 |
|
GROSS PROFIT MARGIN |
% |
10.60 |
10.72 |
9.15 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.45 |
4.74 |
3.52 |
|
NET PROFIT MARGIN |
% |
3.60 |
3.92 |
2.63 |
|
RETURN ON EQUITY |
% |
25.30 |
29.79 |
26.21 |
|
RETURN ON ASSET |
% |
11.82 |
11.91 |
8.18 |
|
EARNING PER SHARE |
BAHT |
445.03 |
494.88 |
355.32 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.53 |
0.60 |
0.69 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.14 |
1.50 |
2.21 |
|
TIME INTEREST EARNED |
TIMES |
5.24 |
5.75 |
3.98 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(2.27) |
(6.33) |
|
|
OPERATING PROFIT |
% |
(8.20) |
26.28 |
|
|
NET PROFIT |
% |
(10.07) |
39.28 |
|
|
FIXED ASSETS |
% |
(22.33) |
(16.33) |
|
|
TOTAL ASSETS |
% |
(9.38) |
(4.37) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -2.27%. Turnover has decreased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.60 |
Impressive |
Industrial
Average |
8.39 |
|
Net Profit Margin |
3.60 |
Impressive |
Industrial
Average |
1.80 |
|
Return on Assets |
11.82 |
Impressive |
Industrial
Average |
3.43 |
|
Return on Equity |
25.30 |
Impressive |
Industrial
Average |
9.66 |
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 10.6%. 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 3.6%, 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
11.82%, 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 25.3%, 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 :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
1.69 |
Impressive |
Industrial
Average |
1.49 |
|
Quick Ratio |
1.45 |
|
|
|
|
Cash Conversion Cycle |
10.89 |
|
|
|
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 1.69 times in 2014, increased from 1.52 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 1.45 times in 2014,
increased from 1.4 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 11 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.53 |
Impressive |
Industrial
Average |
0.63 |
|
Debt to Equity Ratio |
1.14 |
Satisfactory |
Industrial
Average |
1.72 |
|
Times Interest Earned |
5.24 |
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 5.24 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 0.53 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 |
791.02 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
3.28 |
Impressive |
Industrial
Average |
1.90 |
|
Inventory Conversion Period |
9.05 |
|
|
|
|
Inventory Turnover |
40.35 |
Impressive |
Industrial
Average |
5.66 |
|
Receivables Conversion Period |
59.81 |
|
|
|
|
Receivables Turnover |
6.10 |
Impressive |
Industrial
Average |
3.40 |
|
Payables Conversion Period |
57.97 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.10 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 6 days at the end
of 2013 to 9 days at the end of 2014. This represents a negative trend. And
Inventory turnover has decreased from 57.45 times in year 2013 to 40.35 times
in year 2014.
The company's Total Asset Turnover is calculated as 3.28 times and 3.04
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 Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
|
|
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.70.44 |
|
Thai Baht |
1 |
Rs.1.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.