MIRA INFORM REPORT
|
Report No. : |
353131 |
|
Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
UBE FINE
CHEMICALS [ASIA] CO., LTD. |
|
|
|
|
Formerly Known As : |
UBE FINE CHEMICAL [ASIA] CO., LTD |
|
|
|
|
Registered Office : |
18th Floor, Sathorn Square Office Tower, 98 North Sathorn Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
04.10.2007 |
|
|
|
|
Com. Reg. No.: |
0105550104805 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer,
Distributor and Exporter of Industrial Chemicals. |
|
|
|
|
No. of Employees : |
90 |
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
UBE FINE CHEMICALS [ASIA] CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 18th FLOOR,
SATHORN SQUARE OFFICE
TOWER,
98
NORTH
SATHORN ROAD, SILOM,
BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 2206-9300
FAX :
[66] 2206-9313,
2206-9310
E-MAIL
ADDRESS : pongsavat@ube.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2007
REGISTRATION
NO. : 0105550104805
TAX
ID NO. : 3032819664
CAPITAL REGISTERED : BHT. 722,000,000
CAPITAL PAID-UP : BHT.
722,000,000
SHAREHOLDER’S PROPORTION : JAPANESE
: 100%
FISCAL YEAR CLOSING DATE : MARCH
31 [Former :
DECEMBER 31]
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. CHARUNYA PHICHITKUL,
THAI
PRESIDENT AND
CHIEF EXECUTIVE OFFICER
NO.
OF STAFF : 90
LINES
OF BUSINESS : INDUSTRIAL CHEMICALS
MANUFACTURER, DISTRIBUTOR AND EXPORTER
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on October 4,
2007 as a
private limited company
under the originally
registered name “UBE Fine
Chemical [Asia] Co., Ltd.”,
by Japanese groups, with
the business objective
to manufacture and
distribute industrial chemicals
to both domestic
and international markets.
On November 3,
2008, its registered
name was changed
to UBE FINE
CHEMICALS [ASIA] CO.,
LTD. It currently
employs approximately 90
staff. The subject
is a wholly
owned subsidiary of
Ube Industries Ltd.,
a world leader
in Caprolactam and
specialty chemicals manufacturing
in Japan.
The
subject’s registered address
is 18th Floor,
Sathorn Square Office
Tower, 98 North
Sathorn Road, Silom,
Bangrak, Bangkok 10500,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Yuki Nishida |
|
Japanese |
53 |
|
Mr. Charunya Pichitkul |
|
Thai |
61 |
|
Mr. Anuchit Thiranuchit |
|
Thai |
56 |
|
Mr. Satoshi Kusano |
|
Japanese |
48 |
|
Mr. Wachara Pattananitnirandorn |
|
Thai |
52 |
AUTHORIZED
PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Charunya Pichitkul is
the President and
Chief Executive Officer.
He is Thai
nationality with the
age of 61
years old.
Mr. Boonsom Puangmanee is
the Factory Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting petrochemicals mainly
1,6-Hexanediol (HDL) and 1,5-Pentanediol (PDL). Its
products are derived
from the by-products
of Caprolactam production
and used as
a raw material
for Polyurethane and
Polycarbonatediol production industry.
Its main applications
are interior and
finishing materials of luxury
car and etc.
The production technology
is licensed by Ube
Industries Ltd., Japan
PRODUCTION CAPACITY
1,6-Hexanediol : 6,000
tons per annum
1,5-Pentanediol : 600
tons per annum
PURCHASE
Raw
materials are purchased
from suppliers both
domestic and overseas,
mainly in Japan,
Spain, Republic of
China and Taiwan.
MAJOR SUPPLIERS
Ube
Industries Ltd. : Japan
IRPC
Public Company Limited : Thailand
SALES
The products are
sold to manufacturers and end-users
both local and
overseas, mainly in
Malaysia, Indonesia, India,
Korea and Hong Kong.
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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
approximately 90 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at the heading
address. Premise is
located in a prime
commercial area.
Factory
and warehouse are
located at 140/6 Moo 4, T.
Tapong, A. Muang,
Rayong
21000. Tel. : [66] 38 928-700,
Fax. : [66] 38 928-865.
COMMENT
UBE
Fine Chemicals (Asia) Company Limited (UFA) was
established in October, 2007 as a new company of UBE Group (Thailand). UFA is
the first producer and distributor of 1,6-Hexanediol (HDL) and 1,5-Pentanediol
(PDL) in Thailand and South East Asia region. Production technology is licensed
by Ube Industries, a world leader in Caprolactam and Specialty Chemicals
manufacturing with over
50 years experience.
In
December 2014, the
subject has increased
its registered capital
to Bht. 722,000,000
with fully paid-up,
this would assist
on the company’s
financial liquidity flow.
Its business is
being improved gradually.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 100,000 divided
into 1,000 shares
of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 250,000,000
on July 9,
2009
Bht. 550,000,000
on December 25,
2009
Bht. 567,000,000
on March 19,
2010
Bht. 722,000,000
on December 11,
2014
The
latest registered capital
was increased to
Bht. 722,000,000 divided into
7,220,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at
July 28, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ube Industries Ltd. Nationality: Japanese Address : 1-2-1
Shibaura Minato-ku, Tokyo,
Japan |
7,219,998 |
100.00 |
|
Mr. Charunya Pichitkul Nationality: Thai Address : 11
Soi Navathani 4,
Ramindra, Kannayao,
Bangkok |
1 |
- |
|
Mr. Anuchit Thiranuchit Nationality: Thai Address : 250/495
Moo 17, Salathammasop,
Thaveewatana, Bangkok |
1 |
- |
Total Shareholders : 3
Share
Structure
[as at July
28, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
2 |
2 |
- |
|
Foreign - Japanese |
1 |
7,219,998 |
100.00 |
|
Total |
3 |
7,220,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Kamolthip
Lertwitworathep No. 4377
BALANCE
SHEET [BAHT]
The
latest financial figures
published for March 31,
2015, 2014 &
2013 were:
ASSETS
|
Current Assets |
Mar. 31, 2015 |
Mar. 31, 2014 |
Mar. 31,
2013 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
104,756,384 |
21,913,583 |
30,244,369 |
|
Trade Account & Other
Receivable |
501,104,800 |
111,939,842 |
52,149,279 |
|
Inventories |
140,458,415 |
140,056,128 |
103,872,785 |
|
Other Current Assets
|
6,879,170 |
5,033,518 |
6,313,002 |
|
|
|
|
|
|
Total Current Assets
|
302,198,769 |
278,943,071 |
192,579,435 |
|
|
|
|
|
|
Fixed Assets |
1,553,737,160 |
1,532,917,029 |
1,592,163,129 |
|
Intangible Assets |
12,784,300 |
14,186,652 |
15,589,004 |
|
Deferred Income Tax
Assets |
60,276,020 |
61,106,630 |
29,939,063 |
|
Other Non-current Assets |
199,800 |
301,580 |
301,580 |
|
Total Assets |
1,929,196,049 |
1,887,454,962 |
1,830,572,211 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
Mar. 31, 2015 |
Mar. 31, 2014 |
Mar. 31,
2013 |
|
|
|
|
|
|
Short-term Loan from Financial Institution |
994,165,120 |
834,246,747 |
457,173,990 |
|
Trade Account & Other
Payable |
64,325,196 |
86,612,902 |
108,748,929 |
|
Current Portion of
Long-term Loan from Financial Institution |
286,149,500 |
285,087,250 |
257,666,500 |
|
Other Current Liabilities |
10,085,166 |
8,306,922 |
10,072,940 |
|
|
|
|
|
|
Total Current Liabilities |
1,354,724,982 |
1,214,253,821 |
833,662,359 |
|
Long-term Loan from Financial Institution - Net of
Current Portion |
- |
285,087,250 |
515,333,000 |
|
Reserve for Long-term
Employee Benefit
|
3,381,743 |
3,611,056 |
2,141,983 |
|
Cost of Decommissioning |
274,000 |
- |
- |
|
Total Liabilities |
1,358,380,725 |
1,502,952,127 |
1,351,137,342 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value authorized and
issued share capital 7,220,000 shares
in 2015 5,670,000 shares
in 2014 & 2013 |
722,000,000 |
567,000,000 |
567,000,000 |
|
|
|
|
|
|
Capital Paid |
722,000,000 |
567,000,000 |
567,000,000 |
|
Retained Earning - Unappropriated [Deficit] |
[151,184,676] |
[182,497,165] |
[87,565,131] |
|
Total Shareholders' Equity |
570,815,324 |
384,502,835 |
479,434,869 |
|
Total Liabilities & Shareholders' Equity |
1,929,196,049 |
1,887,454,962 |
1,830,572,211 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
Mar. 31, 2015 |
Mar. 31, 2014 |
Jan. 1,
2013 -Mar. 31, 2013 |
|
|
|
|
|
|
Sales Income |
670,316,364 |
643,315,167 |
107,434,039 |
|
Gain on Exchange
Rate |
195,351 |
- |
54,381,772 |
|
Other Income |
927,316 |
440,308 |
15,883 |
|
Total Revenues |
671,439,031 |
643,755,475 |
161,831,694 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
561,029,408 |
563,719,584 |
144,863,551 |
|
Selling Expenses |
16,320,549 |
17,364,407 |
2,007,170 |
|
Administrative Expenses |
49,769,544 |
43,624,102 |
35,680,781 |
|
Loss on Exchange
Rate |
- |
132,707,358 |
- |
|
Total Expenses |
627,119,501 |
757,415,451 |
182,551,502 |
|
|
|
|
|
|
Profit / Loss] before Financial
Cost & Income Tax |
44,319,530 |
[113,659,976] |
[20,719,808] |
|
Financial Cost |
[12,176,431] |
[12,439,625] |
[3,047,737] |
|
|
|
|
|
|
Profit / [Loss] before Income Tax
|
32,143,099 |
[126,099,601] |
[23,767,545] |
|
Income Tax |
[830,610] |
31,167,567 |
[24,828] |
|
Net Profit / [Loss] |
31,312,489 |
[94,932,034] |
[23,792,373] |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.22 |
0.23 |
0.23 |
|
QUICK RATIO |
TIMES |
0.11 |
0.11 |
0.10 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
0.43 |
0.42 |
0.07 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.35 |
0.34 |
0.06 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
91.38 |
90.68 |
261.72 |
|
INVENTORY TURNOVER |
TIMES |
3.99 |
4.02 |
1.39 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
272.86 |
63.51 |
177.17 |
|
RECEIVABLES TURNOVER |
TIMES |
1.34 |
5.75 |
2.06 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
41.85 |
56.08 |
274.01 |
|
CASH CONVERSION CYCLE |
DAYS |
322.39 |
98.12 |
164.89 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.70 |
87.63 |
134.84 |
|
SELLING & ADMINISTRATION |
% |
9.86 |
9.48 |
35.08 |
|
INTEREST |
% |
1.82 |
1.93 |
2.84 |
|
GROSS PROFIT MARGIN |
% |
16.47 |
12.44 |
15.79 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.61 |
(17.67) |
(19.29) |
|
NET PROFIT MARGIN |
% |
4.67 |
(14.76) |
(22.15) |
|
RETURN ON EQUITY |
% |
5.49 |
(24.69) |
(4.96) |
|
RETURN ON ASSET |
% |
1.62 |
(5.03) |
(1.30) |
|
EARNING PER SHARE |
BAHT |
4.34 |
(16.74) |
(4.20) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.70 |
0.80 |
0.74 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.38 |
3.91 |
2.82 |
|
TIME INTEREST EARNED |
TIMES |
3.64 |
(9.14) |
(6.80) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
4.20 |
498.80 |
|
|
OPERATING PROFIT |
% |
(138.99) |
448.56 |
|
|
NET PROFIT |
% |
132.98 |
(299.00) |
|
|
FIXED ASSETS |
% |
1.36 |
(3.72) |
|
|
TOTAL ASSETS |
% |
2.21 |
3.11 |
|
ANNUAL
GROWTH: IMPRESSIVE
An annual sales growth is 4.2%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
16.47 |
Satisfactory |
Industrial Average |
17.91 |
|
Net Profit Margin |
4.67 |
Impressive |
Industrial Average |
2.03 |
|
Return on Assets |
1.62 |
Acceptable |
Industrial Average |
2.74 |
|
Return on Equity |
5.49 |
Impressive |
Industrial Average |
4.35 |
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 16.47%. 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. Net Profit Margin ratio is 4.67%,
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. When compared with the
industry average, it was lower, the company's figure is 1.62%.
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 5.49%, 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 Uptrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.22 |
Risky |
Industrial Average |
1.74 |
|
Quick Ratio |
0.11 |
|
|
|
|
Cash Conversion Cycle |
322.39 |
|
|
|
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 0.22 times in 2014, decrease from 0.23 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 0.11 times in 2014,
same figure as
in 2013, 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 323 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.70 |
Acceptable |
Industrial Average |
0.35 |
|
Debt to Equity Ratio |
2.38 |
Risky |
Industrial Average |
0.54 |
|
Times Interest Earned |
3.64 |
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 3.64 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 0.7 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 |
0.43 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.35 |
Deteriorated |
Industrial Average |
1.35 |
|
Inventory Conversion Period |
91.38 |
|
|
|
|
Inventory Turnover |
3.99 |
Acceptable |
Industrial Average |
7.93 |
|
Receivables Conversion Period |
272.86 |
|
|
|
|
Receivables Turnover |
1.34 |
Deteriorated |
Industrial Average |
5.80 |
|
Payables Conversion Period |
41.85 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.34 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 is
91 days at the end of 2013, same
number of days
as in 2014. This represents a negative trend. And
Inventory turnover has decreased from 4.02 times in year 2013 to 3.99 times in
year 2014.
The company's Total Asset Turnover is calculated as 0.35 times and 0.34
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.66.84 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.73.05 |
|
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.