MIRA INFORM REPORT
|
Report No. : |
353347 |
|
Report Date : |
10.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
FUJI XEROX [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
23rd - 26th
Floor, Suntowers A Building, Vibhavadi-, Rangsit Road, Chompol,
Chatuchak, Bangkok 10900 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
16.06.1978 |
|
|
|
|
Com. Reg. No.: |
0105521009891 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
The
subject is engaged in importing
and distributing office automations and related
products i.e. office
products, production system,
office printers, software, paper
and office supplies, toner, print
CRU for printer
and etc., under
“FUJI XEROX” brand. ·
The
subject also provides office solution, business
development, printer rental
and related services
for event and
seminar. |
|
|
|
|
No. of Employees : |
900 |
RATING & COMMENTS
|
MIRA’s Rating : |
Aa |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
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, 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
FUJI XEROX
[THAILAND] CO., LTD.
SUMMARY
BUSINESS ADDRESS : 23rd - 26th FLOOR,
SUNTOWERS A BUILDING, VIBHAVADI-
RANGSIT ROAD, CHOMPOL, CHATUCHAK, BANGKOK
10900, THAILAND
TELEPHONE : [66] 2660-8000
FAX : [66] 2617-6748-9
E-MAIL ADDRESS : complianceofficer@tha.fujixerox.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1978
REGISTRATION NO. : 0105521009891
TAX ID NO. : 3101111361
CAPITAL REGISTERED : BHT.
150,000,000
CAPITAL PAID-UP : BHT.
150,000,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE
: MR. KOJI TEZUKA,
JAPANESE
PRESIDENT
NO. OF STAFF : 900
LINES OF BUSINESS : OFFICE AUTOMATIONS
AND RELATED PRODUCTS
IMPORTER, DISTRIBUTOR
AND SERVICE
PROVIDER
|
|
|
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 June 16, 1978
as a private
limited company under the
registered name “Thai
Xerographic Systems Co.,
Ltd.” by foreign
groups. On June
15, 1993, the subject’s
registered name was changed
to “Thai Fuji Xerox Co.,
Ltd.”, and finally changed
to FUJI XEROX [THAILAND]
CO., LTD. on
November 3, 2008. Its
business objective is to
supply products and
service of office
automations under “FUJI
XEROX” brand. The
subject currently employs
approximately 900 staff.
The subject is
a wholly owned
subsidiary of Fuji
Xerox Asia Pacific
Pte. Ltd., in
Singapore.
The subject’s registered address is
23rd - 26th
Flr., Suntowers A
Building, 123 Vibhavadi- Rangsit
Rd., Chompol, Chatuchak, Bangkok 10900,
and this is the subject’s current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Masashi Honda |
[x] |
Japanese |
58 |
|
Mr. Sommart Bunyasunanond |
|
Thai |
54 |
|
Mr. Koji Tezuka |
[x] |
Japanese |
57 |
|
Mr. Ryuichi Yamada |
|
Japanese |
51 |
AUTHORIZED PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Koji Tezuka is
the President.
He is Japanese
nationality with the
age of 57
years old.
Mr. Sommart Bunyasunanond is
the Vice President
[Sales & Marketing].
He is Thai
nationality with the
age of 54
years old.
Mr. Rangsan
Naranjariyangkura is the
Director of Printer
Business Group.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in importing and distributing
office automations and
related products i.e. office products,
production system, office
printers, software, paper and office supplies, toner,
print CRU for
printer and etc.,
under “FUJI XEROX”
brand.
The subject also
provides office solution,
business development, printer
rental and related
services for event
and seminar.
PURCHASE
Most of the
products are imported
from Japan, Singapore,
India, Taiwan and
Republic of China,
the remaining is
purchased from local
suppliers.
MAJOR SUPPLIER
Fuji Xerox Co.,
Ltd. : Japan
SALES/SERVICES
100% of the
products is sold
and serviced locally
to both private
and government enterprises.
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/services 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.
BANKING
Bank of Ayudhaya
Public Co., Ltd.
The Siam Commercial
Bank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 900 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Branch and Service
Center:
As of 2014,
the subject has
1 document technology
center; 9 branches
in Bangkok; 18
branches in provincial
such as Chiangmai,
Songkhla, Chonburi, Pathumthani, Ratchburi,
Nakornratchasima,
Nakornsawan, Phitsanuloke, Phuket,
Ubonratchathani, Suratthani, Rayong,
Chumporn, Chiangrai, Ayutthaya
and etc.
COMMENT
The subject is today’s most
robust set of
tools and programs
designed to maximize
a digital printing
equipment investment. It
brings together Xerox’s
unparalleled digital printing experience
and expertise, world-class
resources and industry-leading support.
The subject’s business
remains solid.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 20,000,000 divided
into 2,000 shares
of Bht. 10,000
ach with fully
paid.
The capital was
increased later as
follows:
Bht. 40,000,000
on August
25, 1981
Bht. 150,000,000
on July
19, 2011
The latest registered capital was
increased to Bht. 150,000,000 divided
into 15,000 shares
of Bht. 10,000 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
July 20, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Fuji Xerox Asia
Pacific Pte. Ltd. Nationality: Singaporean Address : #37-00,
80 Anson Rd.,
Singapore |
14,998 |
99.99 |
|
Mr. Ryuichi Yamada Nationality: Japanese Address : 3
Rodyk Street # 07-18 Watermark, Singapore |
1 |
= 0.01 |
|
Mr. Masashi Honda Nationality: Japanese Address : #37-00,
80 Anson Rd.,
Singapore |
1 |
|
Total Shareholders : 3
Share Structure [as
at July 20,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
15,000 |
100.00 |
|
Total |
3 |
15,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mrs. Sarinda Hirunprasertwut No.
4799
BALANCE SHEET
[BAHT]
The latest financial figures published
as at March
31, 2015, 2014 & 2013 were:
ASSETS
|
Current Assets |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Cash and Cash Equivalents |
982,136,759 |
497,864,434 |
355,145,160 |
|
Short-term Investment |
- |
398,790,290 |
198,498,524 |
|
Trade Accounts & Other Receivable |
1,964,061,603 |
1,581,005,524.00 |
1,479,090,904 |
|
Current Portion of Financial
Lease Contract Receivable |
- |
- |
24,602,896 |
|
Short-term Loan to Related
Company |
- |
841,293,000 |
832,928,400 |
|
Inventories |
369,072,038 |
334,135,287 |
255,000,418 |
|
Other Current Assets
|
30,008,308 |
29,055,399 |
48,868,797 |
|
|
|
|
|
|
Total Current Assets
|
3,345,278,708 |
3,682,143,934 |
3,194,135,099 |
|
|
|
|
|
|
Other Long-term Investment |
217,064 |
217,064 |
217,064 |
|
Long-term Loan to Related
Company |
1,750,000,000 |
1,752,872,285 |
1,461,000,000 |
|
Financial Lease Contract Receivable, Net of Current Portion |
- |
- |
95,954,203 |
|
Long-term Loan to Employee |
- |
- |
8,482,336 |
|
Fixed Assets |
426,176,169 |
355,885,108 |
380,330,215 |
|
Other Non-current Assets |
181,075,446 |
134,108,260 |
20,471,304 |
|
Total Assets |
5,702,747,387 |
5,925,226,651 |
5,160,590,221 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
818,954,520 |
722,625,343 |
605,038,983 |
|
Accrued Income Tax |
77,873,000 |
70,125,230 |
73,850,030 |
|
Other Current Liabilities |
235,613,410 |
123,543,715 |
93,665,247 |
|
|
|
|
|
|
Total Current Liabilities |
1,132,404,930 |
916,294,288 |
772,554,260 |
|
|
|
|
|
|
Reserve for Employee
Benefits |
196,724,524 |
186,984,709 |
172,868,333 |
|
Other Non-current Liabilities |
50,351,156 |
60,521,753 |
50,798,856 |
|
Total Liabilities |
1,379,480,610 |
1,163,800,750 |
996,221,449 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10,000
par value authorized, issued
and fully paid share
capital 15,000 shares
|
150,000,000 |
150,000,000 |
150,000,000 |
|
|
|
|
|
|
Capital Paid |
150,000,000 |
150,000,000 |
150,000,000 |
|
Retained Earnings: Appropriated for Statutory Reserve |
15,000,000 |
15,000,000 |
15,000,000 |
|
Unappropriated |
4,158,266,777 |
4,595,437,913 |
3,999,133,246 |
|
Unrealised
Gain on Changes in Value of Investments |
- |
987,988 |
235,526 |
|
Total Shareholders' Equity |
4,323,266,777 |
4,761,425,901 |
4,164,368,772 |
|
Total Liabilities & Shareholders' Equity |
5,702,747,387 |
5,925,226,651 |
5,160,590,221 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Sales & services Income |
5,821,819,944 |
5,531,100,698 |
5,254,089,594 |
|
Interest Income |
105,556,495 |
92,943,901 |
- |
|
Other Income |
17,946,311 |
30,710,938 |
191,418,132 |
|
Total Revenues |
5,945,322,750 |
5,654,755,537 |
5,445,507,726 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Raw Material and Material Supplies |
4,030,740,353 |
3,754,738,149 |
- |
|
Employee Benefits |
31,781,354 |
21,955,805 |
- |
|
Depreciation and Amortization |
201,048,000 |
203,398,000 |
- |
|
Cost of Goods
Sold & Service |
- |
- |
3,953,993,583 |
|
Selling Expenses |
- |
- |
192,265,004 |
|
Administrative Expenses |
- |
- |
812,733,052 |
|
Other Expenses |
933,765,178 |
906,341,008 |
52,514,073 |
|
Total Expenses |
5,197,334,885 |
4,886,432,962 |
5,011,505,712 |
|
Profit / [Loss] before Income Tax |
747,987,865 |
768,322,575 |
434,002,014 |
|
Income Tax |
[185,169,001] |
[172,017,908] |
[141,600,883] |
|
|
|
|
|
|
Net Profit / [Loss] |
562,818,864 |
596,304,667 |
292,401,131 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2015 |
2014 |
2013 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.95 |
4.02 |
4.13 |
|
QUICK RATIO |
TIMES |
2.60 |
3.62 |
3.74 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
13.66 |
15.54 |
13.81 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.02 |
0.93 |
1.02 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
33.42 |
32.48 |
23.54 |
|
INVENTORY TURNOVER |
TIMES |
10.92 |
11.24 |
15.51 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
123.14 |
104.33 |
102.75 |
|
RECEIVABLES TURNOVER |
TIMES |
2.96 |
3.50 |
3.55 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
74.16 |
70.25 |
55.85 |
|
CASH CONVERSION CYCLE |
DAYS |
82.40 |
66.57 |
70.44 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
69.24 |
67.88 |
75.26 |
|
SELLING & ADMINISTRATION |
% |
4.00 |
4.07 |
19.13 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
32.89 |
34.35 |
28.39 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.85 |
13.89 |
8.26 |
|
NET PROFIT MARGIN |
% |
9.67 |
10.78 |
5.57 |
|
RETURN ON EQUITY |
% |
13.02 |
12.52 |
7.02 |
|
RETURN ON ASSET |
% |
9.87 |
10.06 |
5.67 |
|
EARNING PER SHARE |
BAHT |
37,521.26 |
39,753.64 |
19,493.41 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.24 |
0.20 |
0.19 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.32 |
0.24 |
0.24 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
5.26 |
5.27 |
|
|
OPERATING PROFIT |
% |
(2.65) |
77.03 |
|
|
NET PROFIT |
% |
(5.62) |
103.93 |
|
|
FIXED ASSETS |
% |
19.75 |
(6.43) |
|
|
TOTAL ASSETS |
% |
(3.75) |
14.82 |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 5.26%. Turnover has increased from THB
5,531,100,698.00 in 2014 to THB 5,821,819,944.00 in 2015. While net profit has
decreased from THB 596,304,667.00 in 2014 to THB 562,818,864.00 in 2015. And total
assets has decreased from THB 5,925,226,651.00 in 2014 to THB 5,702,747,387.00
in 2015.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
32.89 |
Impressive |
Industrial Average |
12.69 |
|
Net Profit Margin |
9.67 |
Impressive |
Industrial Average |
3.35 |
|
Return on Assets |
9.87 |
Impressive |
Industrial Average |
4.67 |
|
Return on Equity |
13.02 |
Impressive |
Industrial Average |
8.43 |
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 32.89%. 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 9.67%, 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. Return on Assets ratio is
9.87%, 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 13.02%, 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 |
2.95 |
Impressive |
Industrial Average |
1.81 |
|
Quick Ratio |
2.60 |
|
|
|
|
Cash Conversion Cycle |
82.40 |
|
|
|
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 2.95 times in 2015, decreased from 4.02 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 2.6 times in 2015,
decreased from 3.62 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 83 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.24 |
Impressive |
Industrial Average |
0.44 |
|
Debt to Equity Ratio |
0.32 |
Impressive |
Industrial Average |
0.81 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.24 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 : IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
13.66 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.02 |
Acceptable |
Industrial Average |
1.43 |
|
Inventory Conversion Period |
33.42 |
|
|
|
|
Inventory Turnover |
10.92 |
Impressive |
Industrial Average |
4.09 |
|
Receivables Conversion Period |
123.14 |
|
|
|
|
Receivables Turnover |
2.96 |
Impressive |
Industrial Average |
2.83 |
|
Payables Conversion Period |
74.16 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.96 and 3.50 in
2015 and 2014 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 2015
decreased from 2014. This would suggest the company had deteriorated 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 32 days at the
end of 2014 to 33 days at the end of 2015. This represents a negative trend.
And Inventory turnover has decreased from 11.24 times in year 2014 to 10.92
times in year 2015.
The company's Total Asset Turnover is calculated as 1.02 times and 0.93
times in 2015 and 2014 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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
|
|
1 |
Rs.100.29 |
|
Euro |
1 |
Rs.72.89 |
|
Thai Baht |
1 |
Rs.1.85 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.