MIRA INFORM REPORT
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Report No. : |
352033 |
|
Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOZZHIN INTERNATIONAL CORPORATION CO., LTD. |
|
|
|
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Registered Office : |
152
Soi Chalongkrung 31, Chalongkrung Road, Lamplatiw, Ladkrabang, Bangkok 10520 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
05.02.2002 |
|
|
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Com. Reg. No.: |
0105545014275 |
|
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|
|
Legal Form : |
Private Limited Company
|
|
|
|
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Line of Business : |
Subject is engaged
in importing and
distributing various kinds
of ferrous and
non-ferrous metal and service
center for general
industrial purposes |
|
|
|
|
No. of Employee : |
120 |
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 |
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Payment Behaviour : |
No complaints |
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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'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
TOZZHIN
INTERNATIONAL CORPORATION CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 152
SOI CHALONGKRUNG 31,
CHALONGKRUNG
ROAD,
LAMPLATIW, LADKRABANG,
BANGKOK 10520,
THAILAND
TELEPHONE : [66] 2739-6396
FAX : [66]
2739-6397
E-MAIL
ADDRESS : sales@tozzhin.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2002
REGISTRATION
NO. : 0105545014275
TAX
ID NO. : 3030478689
CAPITAL REGISTERED : BHT. 80,000,000
CAPITAL PAID-UP : BHT.
80,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL
YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
NITI THAVORN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 120
LINES
OF BUSINESS : METAL
PRODUCTS
IMPORTER AND
DISTRIBUTOR
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 February
5, 2002 as
a private limited
company under the
registered name TOZZHIN INTERNATIONAL CORPORATION CO.,
LTD. by Thai
and foreign groups,
in order to import
and distribute various
kinds of metal
products to local
market. It currently
employs approximately 120
staff.
Presently, the subject
is 100% owned
by Thai group.
Subject also achieved the
standard ISO 9001 : 2008 certification
from MOODY.
The subject’s registered
address was initially
at 69/62 Moo
6, Soi Kingkaew
54, Kingkaew Rd.,
Rajatheva, Bangplee, Samutprakarn
10540.
On April 30,
2008, subject’s registered
address was relocated
to 246 Chalongkrung
Rd., Lamplatiw, Ladkrabang,
Bangkok 10520.
On August 21,
2015, its registered
address was changed
to 152 Soi
Chalongkrung 31, Chalongkrung
Rd., Lamplatiw, Ladkrabang,
Bangkok 10520, by the Ladkrabang
District Office, which
actually are the
same location, and
this is the
company’s current operation
address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Niti Thavorn |
|
Thai |
49 |
AUTHORIZED
PERSON
The above director
signs on behalf
of the subject with
company’s affixed.
MANAGEMENT
Mr. Niti Thavorn
is the Managing
Director.
He is Thai
nationality with the
age of 49
years old.
Mr. Supiti Sanongkul is
the Factory Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject is
engaged in importing
and distributing various
kinds of ferrous
and non-ferrous metal and
service center for
general industrial purposes
as the followings:
|
Aluminum |
Sheet, Coil, Treat
Plate, Bar, Extrusion,
Round Fin-Stock, Tube |
|
Cold/ Hot Rolled Stainless Steel |
Sheet & coil, CSP, plate,
rod and wire
for spring |
|
Brass |
Sheet, Coil and
rod |
|
Copper |
Copper sheet, coil
and rod |
|
Aluminium Plate |
Plate and rod |
|
High Carbon Steel
& Steel Wire
for Spring |
|
|
Aluminium Composite |
|
|
Aluminium Reflector |
|
Subject also provides steel service
center, including cutting,
slitting and shearing,
packing, and PE
laminating according to customer’s requirement.
PURCHASE
80% of the
products is imported
from Singapore, Malaysia, Taiwan,
Republic of China,
Korea, India, Australia
and Japan, the remaining
20% is purchased
from local suppliers.
MAJOR
SUPPLIERS
Tozzhin Enterprise Sdn.
Bhd. : Malaysia
Okaya & Co.,
Ltd. : Japan
SALES
[LOCAL]
100% of the
products is sold
locally by wholesale
to dealers and
end-users, mainly in
automotive, electrical &
electronics and construction
industries.
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.
BUSINESS
TRANSACTION
The products are
sold to customers
by cash and
credit, with the
maximum credit given
at 30-60 days. The subject is
not found to have payment
problem on both accounts
receivable and accounts
payable.
BANKING
Bangkok Bank Public
Co., Ltd.
[Kingkaew Branch
: Kingkaew Rd.,
Rajatheva, Bangplee, Samutprakarn]
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 120 office and
sales staff.
LOCATION
DETAILS
The premise is
owned for administrative office
and warehouse on
10,800 square meters
of land at
the heading address.
Premise is located
in industrial area.
COMMENT
The subject is an
importer and distributor of metal products for industrial purposes. Subject has
strong capability in
order to serve the
customer with high
quality products.
Subject’s
business performance remains
upbeat as its
products have been
widely used in
various industries. Domestic
sales also maintains
at strong level
despite overall industrial
sentiment remains weak.
FINANCIAL
INFORMATION
The capital was registered
at Bht. 1,000,000 divided into 10,000
shares of Bht. 100 each.
The capital was
increased later as
followings:
Bht.
5,000,000 on December
23, 2003
Bht.
25,000,000 on May
18, 2004
Bht. 30,000,000
on December 25,
2008
Bht. 50,000,000
on March 26,
2010
Bht. 80,000,000
on June 8,
2015
The latest registered
capital was increased
to Bht. 80,000,000 divided into 800,000
shares of Bht.
100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at October
13, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Niti Thavorn Nationality: Thai Address : 56/262
Moo 1, Nongbon, Praves, Bangkok 10260 |
776,000 |
97.00 |
|
Ms. Tarika Thavorn Nationality: Thai Address : 56/262
Moo 1, Nongbon, Praves, Bangkok 10260 |
8,000 |
1.00 |
|
Mrs. Nawarat Thavorn Nationality: Thai Address : 56/262
Moo 1, Nongbon, Praves, Bangkok 10260 |
8,000 |
1.00 |
|
Mr. Kriengsak Thavorn Nationality: Thai Address : 139
Moo 2, T.
Chamang, A. Muang, Pichit
|
8,000 |
1.00 |
Total Shareholders : 4
Share Structure [as
at October 13,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
800,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
800,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Nattapong Phumee No. 3325
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December 31,
2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
38,012,146 |
14,757,206 |
27,378,492 |
|
Cash at Bank
pledged as a
Collateral |
148,709,343 |
172,386,818 |
162,136,926 |
|
Trade Accounts Receivable |
144,889,440 |
166,209,753 |
131,442,190 |
|
Inventories |
175,740,330 |
114,806,811 |
211,565,630 |
|
Other Current Assets
|
8,434,532 |
5,772,834 |
17,186,740 |
|
|
|
|
|
|
Total Current Assets
|
515,785,791 |
473,933,422 |
549,709,978 |
|
Fixed Assets |
87,860,600 |
94,806,433 |
100,890,939 |
|
Other Non-current Assets |
9,730,154 |
7,144,246 |
3,207,895 |
|
Total Assets |
613,376,545 |
575,884,101 |
653,808,812 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Short-term Loan from
Financial Institution |
295,489,412 |
295,978,383 |
357,704,189 |
|
Trade Accounts
Payable |
102,048,240 |
73,431,996 |
86,144,784 |
|
Accrued Expenses |
6,738,331 |
8,967,358 |
13,553,991 |
|
Accrued Income
Tax |
3,267,021 |
2,529,873 |
3,020,353 |
|
Current Portion
of Long-term Loan
from Financial Institution |
8,965,851 |
10,887,671 |
7,997,979 |
|
Current Portion
of Hire-purchase Contract
Liabilities |
2,558,939 |
2,543,973 |
360,827 |
|
Other Current
Liabilities |
3,844,371 |
4,068,204 |
5,362,841 |
|
|
|
|
|
|
Total Current
Liabilities |
422,912,165 |
398,407,458 |
474,144,964 |
|
Long-term Loan
from Financial Institution |
11,537,016 |
20,493,729 |
33,941,784 |
|
Hire-purchase Contract
Liabilities |
4,051,924 |
3,566,438 |
4,032,963 |
|
Total Liabilities |
438,501,105 |
422,467,625 |
512,119,711 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value Authorized &
issued share capital
800,000 shares
|
80,000,000 |
80,000,000 |
80,000,000 |
|
|
|
|
|
|
Capital Paid |
80,000,000 |
80,000,000 |
80,000,000 |
|
Retained Earning - Unappropriated
[Deficit] |
94,875,440 |
73,416,476 |
61,689,101 |
|
|
|
|
|
|
Total Shareholders' Equity |
174,875,440 |
153,416,476 |
141,689,101 |
|
Total Liabilities &
Shareholders' Equity |
613,376,545 |
575,884,101 |
653,808,812 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales |
1,012,838,304 |
1,045,366,478 |
973,690,575 |
|
Service Income |
1,175,475 |
647,415 |
471,745 |
|
Gain on Exchange Rate |
1,718,524 |
- |
12,180,882 |
|
Other Income |
10,638,033 |
6,239,607 |
5,675,989 |
|
Total Revenues |
1,026,370,336 |
1,052,255,500 |
992,019,191 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
914,998,600 |
923,208,314 |
885,792,274 |
|
Selling &
Administrative Expenses |
72,135,784 |
74,147,214 |
75,061,621 |
|
Loss on Exchange
Rate |
- |
24,934,627 |
- |
|
Total Expenses |
987,134,384 |
1,022,290,155 |
960,853,895 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost &
Income Tax |
39,235,952 |
29,965,345 |
31,165,296 |
|
Financial Cost |
[11,684,731] |
[12,695,032] |
[12,268,501] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
27,551,221 |
17,270,313 |
18,896,795 |
|
Income Tax |
[6,092,257] |
[5,542,938] |
[6,017,101] |
|
Net Profit / [Loss] |
21,458,964 |
11,727,375 |
12,879,694 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.22 |
1.19 |
1.16 |
|
QUICK RATIO |
TIMES |
0.78 |
0.89 |
0.68 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
11.54 |
11.03 |
9.66 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.65 |
1.82 |
1.49 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
70.10 |
45.39 |
87.18 |
|
INVENTORY TURNOVER |
TIMES |
5.21 |
8.04 |
4.19 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
52.15 |
58.00 |
49.25 |
|
RECEIVABLES TURNOVER |
TIMES |
7.00 |
6.29 |
7.41 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
40.71 |
29.03 |
35.50 |
|
CASH CONVERSION CYCLE |
DAYS |
81.55 |
74.36 |
100.93 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
90.24 |
88.26 |
90.93 |
|
SELLING & ADMINISTRATION |
% |
7.11 |
7.09 |
7.71 |
|
INTEREST |
% |
1.15 |
1.21 |
1.26 |
|
GROSS PROFIT MARGIN |
% |
10.98 |
12.34 |
10.90 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.87 |
2.86 |
3.20 |
|
NET PROFIT MARGIN |
% |
2.12 |
1.12 |
1.32 |
|
RETURN ON EQUITY |
% |
12.27 |
7.64 |
9.09 |
|
RETURN ON ASSET |
% |
3.50 |
2.04 |
1.97 |
|
EARNING PER SHARE |
BAHT |
26.82 |
14.66 |
16.10 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.71 |
0.73 |
0.78 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.51 |
2.75 |
3.61 |
|
TIME INTEREST EARNED |
TIMES |
3.36 |
2.36 |
2.54 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.06) |
7.38 |
|
|
OPERATING PROFIT |
% |
30.94 |
(3.85) |
|
|
NET PROFIT |
% |
82.98 |
(8.95) |
|
|
FIXED ASSETS |
% |
(7.33) |
(6.03) |
|
|
TOTAL ASSETS |
% |
6.51 |
(11.92) |
|
ANNUALGROWTH
: SATISFACTORY
An annual sales growth is -3.06%. Turnover has decreased from THB
1,046,013,893.00 in 2013 to THB 1,014,013,779.00 in 2014. While net profit has
increased from THB 11,727,375.00 in 2013 to THB 21,458,964.00 in 2014. And
total assets has increased from THB 575,884,101.00 in 2013 to THB
613,376,545.00 in 2014.
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.98 |
Satisfactory |
Industrial
Average |
14.51 |
|
Net Profit Margin |
2.12 |
Satisfactory |
Industrial
Average |
2.15 |
|
Return on Assets |
3.50 |
Deteriorated |
Industrial
Average |
11.90 |
|
Return on Equity |
12.27 |
Deteriorated |
Industrial
Average |
36.37 |
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 10.98%. 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 2.12%.
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 3.5%.
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 12.27%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.22 |
Satisfactory |
Industrial
Average |
1.35 |
|
Quick Ratio |
0.78 |
|
|
|
|
Cash Conversion Cycle |
81.55 |
|
|
|
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 1.22 times in 2014, increased from 1.19 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 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 0.78 times in
2014, decreased from 0.89 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 82 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.71 |
Acceptable |
Industrial
Average |
0.66 |
|
Debt to Equity Ratio |
2.51 |
Risky |
Industrial
Average |
1.96 |
|
Times Interest Earned |
3.36 |
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 3.36 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 0.71 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
11.54 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.65 |
Deteriorated |
Industrial
Average |
5.54 |
|
Inventory Conversion Period |
70.10 |
|
|
|
|
Inventory Turnover |
5.21 |
Deteriorated |
Industrial
Average |
17.86 |
|
Receivables Conversion Period |
52.15 |
|
|
|
|
Receivables Turnover |
7.00 |
Acceptable |
Industrial
Average |
9.39 |
|
Payables Conversion Period |
40.71 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.00 and 6.29 in
2014 and 2013 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 2014
increased from 2013. This would suggest the company had good performance 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 increased from 45 days at the
end of 2013 to 70 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 8.04 times in year 2013 to 5.21 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.65 times and 1.82
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 Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.52 |
|
|
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.70.44 |
|
THB |
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 : |
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.