MIRA INFORM REPORT
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Report No. : |
353742 |
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Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
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Name : |
METAL MATE CO., LTD. |
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Registered Office : |
555 Moo 2,
Putaraksa Road, T. Praeksa, A. Muang, Samutprakarn 10280 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
11.04.1997 |
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Com. Reg. No.: |
0115540002279 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject is
engaged in manufacturing, distributing and
exporting various kinds
of pressurized gas
cylinders and related products,
including Welded Cylinder,
Composite Cylinder and
Seamless Aluminum Cylinder
for LP gas,
Dumpy Cylinder, Automotive
LPG Cylinder [Automotive Cylinder
LPG Cylinder/Automotive Toroidal
LPG Cylinder], and
special gas cylinder
for automotive, petroleum
and gas industries.
The subject also provides reconditioning and testing services. |
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No. of Employees : |
500 |
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 |
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Status : |
Good |
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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 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
name
METAL MATE CO., LTD.
SUMMARY
BUSINESS ADDRESS : 555
MOO 2, PUTARAKSA
ROAD, T. PRAEKSA,
A.
MUANG, SAMUTPRAKARN 10280,
THAILAND
TELEPHONE : [66] 2701-1571-5
FAX : [66] 2701-1572
E-MAIL ADDRESS : info@metal-mate.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1997
REGISTRATION NO. : 0115540002279
TAX ID NO. : 3271079560
CAPITAL REGISTERED : BHT.
135,000,000
CAPITAL PAID-UP : BHT.
135,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. PRATEEP NILVICHEAN,
THAI
MANAGING DIRECTOR
NO. OF STAFF : 500
LINES OF BUSINESS : GAS
CYLINDER
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
|
|
|
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 April
11, 1997 as
a private limited
company under the
registered name METAL MATE CO.,
LTD., by Thai groups, with
the business objective
to manufacture and
supply various kinds
of gas cylinders and
related products for
automotive industry to both
domestic and international
markets. It currently employs
approximately 500 staff.
It achieved many
quality standard
certifications, such as
TIS 27, AS/NZ 2469,
EN1442, BS5045, ISO 9001 : 2000 certification
for the production
management system, as well
as ISO 11439 certification
for environmental management
system.
The subject’s registered
address is 555
Moo 2, Putaraksa Road,
T. Praeksa, A. Muang,
Samutprakarn 10280, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Prateep Nilvichean |
|
Thai |
61 |
|
Mrs. Naiyana Nilvichean |
|
Thai |
62 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Prateep Nilvichean is
the Managing Director.
He is Thai
nationality with the
age of 61
years old.
Mrs. Naiyana Nilvichean is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 62
years old.
Mr. Neil Nilvichean is
the Deputy Managing
Director and Marketing
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing, distributing
and exporting various
kinds of pressurized
gas cylinders and
related products, including
Welded Cylinder, Composite
Cylinder and Seamless
Aluminum Cylinder for
LP gas, Dumpy
Cylinder, Automotive LPG
Cylinder [Automotive Cylinder LPG
Cylinder/Automotive Toroidal LPG
Cylinder], and special
gas cylinder for
automotive, petroleum and
gas industries. The subject also provides reconditioning
and testing services.
BRAND NAMES
“METAL MATE”, “VOLL”,
“NEIL”
PURCHASE
Raw materials and
components are purchased
from suppliers both
domestic and overseas
in U.S.A., Italy,
Germany, India and
Japan.
MAJOR SUPPLIERS
Toho Tenax Co.,
Ltd. : Japan
Tata Steel [Thailand]
Public Company Limited : Thailand
SALES
The products are
sold to manufacturers and end-users both local and
overseas in Australia, United
Kingdom, Australia, New
Zealand, Indonesia, Malaysia,
Japan and the
country in Africa.
MAJOR CUSTOMERS
PTT Public Company
Limited : Thailand
Unique Gas and
Petrochemicals Public Company
Limited : Thailand
Worldgas [Thailand] Co.,
Ltd. : Thailand
Igaz Pty. Ltd. : Australia
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.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 500 staff.
LOCATION DETAILS
The premise is owned for administrative office and
factory I at the heading address. Premise
is located in
provincial.
Factory II :
55/5 Moo 12, T.
Bangpla, A. Bangplee, Samutprakarn
10540.
Factory III : 555/5 Moo
7, T. Bangpoomai, A. Muang,
Samutprakarn 10280.
Branch office :
- 55/5 Moo
5, T. Thungsong, A. Kanchanadit, Suratthani
84160.
COMMENT
The subject is
the country leading
pressure vessels manufacturer
widely accepted in
domestic and overseas
for more than
decade. It continues
to develop automotive
LPG cylinder until
becoming widely accepted
by many standards including
European standard ECE67-R001 (E1) which is
considered as European
highest standard TIS:370
and AS/NZ 3509.
With high quality
products, safety concern
principal, attractive features
and environmental care, the
subject has become
nation leading manufacturer
of automotive LPG
cylinder.
FINANCIAL INFORMATION
The capital was registered
at Bht. 1,000,000 divided
into 10,000 shares of Bht. 100
each with fully
paid.
The capital was
increased later as
follows:
Bht. 10,000,000
on June
27, 2000
Bht. 20,000,000
on May 24,
2004
Bht. 30,000,000
on July
28, 2004
Bht. 70,000,000
on October
31, 2007
Bht. 95,000,000
on April
3, 2009
Bht. 135,000,000
on March
31, 2014
The latest registered
capital was increased to
Bht. 135,000,000 divided
into 1,350,000 shares
of Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Prateep Nilvichean Nationality: Thai Address : 33/72 Moo
1, T. Bangkaew, A. Bangplee,
Samutprakarn |
356,250 |
26.39 |
|
Mrs. Naiyana Nilvichiean Nationality: Thai Address : 33/72 Moo
1, T. Bangkaew, A. Bangplee, Samutprakarn |
356,248 |
26.39 |
|
Mr. Neil Nilvichean Nationality: Thai Address : 33/79 Moo
1, T. Bangkaew, A. Bangplee,
Samutprakarn |
200,001 |
14.81 |
|
Ms. Praewnil Nilvichean Nationality: Thai Address :
33/72 Moo 1, T. Bangkaew, A. Bangplee,
Samutprakarn |
200,001 |
14.81 |
|
Mrs. Somsri Srisanong Nationality: Thai Address : 292/62
Moo 5, T. Naklua,
A. Banglamung, Chonburi |
118,750 |
8.80 |
|
Mr. Koonyong Srisanong Nationality: Thai Address : 16/4
Moo 5, T. Pong,
A. Banglamung, Chonburi |
118,750 |
8.80 |
Total Shareholders : 6
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
1,350,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
1,350,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mrs. Darunee Uaariyapanickul No.
3066
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 |
3,698,537.48 |
3,094,134.49 |
5,194,417.28 |
|
Trade Accounts &
Other Receivable |
96,003,158.93 |
83,973,812.89 |
118,089,600.23 |
|
Short-term Loan to Person or Related Company |
3,298,216.15 |
3,504,496.56 |
2,366,577.26 |
|
Inventories |
226,870,458.92 |
177,540,262.92 |
121,739,193.76 |
|
Other Current Assets
|
13,199,356.35 |
5,637,626.84 |
46,343,222.61 |
|
|
|
|
|
|
Total Current Assets
|
343,069,727.83 |
273,750,333.70 |
293,733,011.14 |
|
Long-term Investment |
4,502,087.68 |
- |
- |
|
Cash at Bank pledged as a Collateral |
3,165,468.93 |
7,533,824.59 |
7,382,087.71 |
|
Fixed Assets |
613,256,820.91 |
434,478,613.50 |
414,051,596.04 |
|
Other Non-current Assets |
4,013,245.78 |
2,993,068.51 |
2,458,729.58 |
|
Total Assets |
968,007,351.13 |
718,755,840.30 |
717,625,424.47 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
7,685,766.81 |
10,174,845.45 |
20,335,785.22 |
|
Promissory Notes |
262,804,531.69 |
202,515,459.82 |
202,579,644.19 |
|
Trade Accounts Payable
|
53,799,601.26 |
56,210,877.61 |
67,001,434.60 |
|
Current Portion of
Long-term Liabilities |
40,560,000.00 |
27,510,000.00 |
17,685,000.00 |
|
Short-term Loan from Related
Person |
38,206,485.44 |
78,206,485.44 |
54,444,785.44 |
|
Other Current Liabilities |
17,433,844.08 |
11,767,736.08 |
10,747,080.17 |
|
|
|
|
|
|
Total Current Liabilities |
420,490,229.28 |
386,385,404.40 |
372,793,729.62 |
|
Long-term Loans |
233,936,750.00 |
215,676,750.00 |
231,040,000.00 |
|
Total Liabilities |
654,426,979.28 |
602,062,154.40 |
603,833,729.62 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized and
issued share capital 1,350,000 shares in 2014 950,000 shares in 2013 & 2012 |
135,000,000.00 |
95,000,000.00 |
95,000,000.00 |
|
|
|
|
|
|
Capital Paid |
135,000,000.00 |
95,000,000.00 |
95,000,000.00 |
|
Surplus on Revaluation of
Assets |
152,128,440.00 |
- |
- |
|
Retained Earning - Unappropriated [Deficit] |
26,451,931.85 |
21,693,685.90 |
18,791,694.85 |
|
Total Shareholders' Equity |
313,580,371.85 |
116,693,685.90 |
113,791,694.85 |
|
Total Liabilities & Shareholders' Equity |
968,007,351.13 |
718,755,840.30 |
717,625,424.47 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
587,568,379.27 |
502,022,609.52 |
556,247,065.75 |
|
Service Income |
75,951,816.33 |
69,980,650.01 |
28,001,919.94 |
|
Other Income |
1,338,080.64 |
844,205.91 |
5,152,071.96 |
|
Interest Income |
158,961.66 |
172,390.04 |
- |
|
Total Revenues |
665,017,237.90 |
573,019,855.48 |
589,401,057.65 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold & Service |
492,530,489.68 |
483,733,887.74 |
496,822,609.22 |
|
Selling and Administrative Expenses |
148,756,653.42 |
59,321,410.18 |
64,152,462.30 |
|
Total Expenses |
641,287,143.10 |
543,055,297.92 |
560,975,071.52 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
23,730,094.80 |
29,964,557.56 |
28,425,986.13 |
|
Financial Costs |
[17,445,703.92] |
[25,854,501.42] |
[26,399,577.57] |
|
Profit / [Loss] before Income
Tax |
6,284,390.88 |
4,110,056.14 |
2,026,408.56 |
|
Income Tax |
[1,526,144.93] |
[1,208,065.09] |
[1,306,774.27] |
|
|
|
|
|
|
Net Profit / [Loss] |
4,758,245.95 |
2,901,991.05 |
719,634.29 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.82 |
0.71 |
0.79 |
|
QUICK RATIO |
TIMES |
0.24 |
0.23 |
0.34 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.08 |
1.32 |
1.41 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.69 |
0.80 |
0.81 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
168.13 |
133.96 |
89.44 |
|
INVENTORY TURNOVER |
TIMES |
2.17 |
2.72 |
4.08 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
52.81 |
53.58 |
73.77 |
|
RECEIVABLES TURNOVER |
TIMES |
6.91 |
6.81 |
4.95 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
39.87 |
42.41 |
49.22 |
|
CASH CONVERSION CYCLE |
DAYS |
181.07 |
145.13 |
113.99 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
74.23 |
84.57 |
85.04 |
|
SELLING & ADMINISTRATION |
% |
22.42 |
10.37 |
10.98 |
|
INTEREST |
% |
2.63 |
4.52 |
4.52 |
|
GROSS PROFIT MARGIN |
% |
26.00 |
15.61 |
15.85 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.58 |
5.24 |
4.87 |
|
NET PROFIT MARGIN |
% |
0.72 |
0.51 |
0.12 |
|
RETURN ON EQUITY |
% |
1.52 |
2.49 |
0.63 |
|
RETURN ON ASSET |
% |
0.49 |
0.40 |
0.10 |
|
EARNING PER SHARE |
BAHT |
3.52 |
3.05 |
0.76 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.68 |
0.84 |
0.84 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.09 |
5.16 |
5.31 |
|
TIME INTEREST EARNED |
TIMES |
1.36 |
1.16 |
1.08 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
16.00 |
(2.10) |
|
|
OPERATING PROFIT |
% |
(20.81) |
5.41 |
|
|
NET PROFIT |
% |
63.96 |
303.26 |
|
|
FIXED ASSETS |
% |
41.15 |
4.93 |
|
|
TOTAL ASSETS |
% |
34.68 |
0.16 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 16%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
26.00 |
Deteriorated |
Industrial Average |
139.12 |
|
Net Profit Margin |
0.72 |
Deteriorated |
Industrial Average |
6.12 |
|
Return on Assets |
0.49 |
Deteriorated |
Industrial Average |
6.27 |
|
Return on Equity |
1.52 |
Deteriorated |
Industrial Average |
10.43 |
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 26%. 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 0.72%.
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 0.49%.
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 1.52%.
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 |
0.82 |
Risky |
Industrial Average |
1.78 |
|
Quick Ratio |
0.24 |
|
|
|
|
Cash Conversion Cycle |
181.07 |
|
|
|
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 0.82 times in 2014, increased from 0.71 times, then the company may
have problems meeting its short-term obligations. 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 0.24 times in 2014,
increased from 0.23 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 182 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.68 |
Acceptable |
Industrial Average |
0.38 |
|
Debt to Equity Ratio |
2.09 |
Risky |
Industrial Average |
0.61 |
|
Times Interest Earned |
1.36 |
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 1.37 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 0.68 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.08 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.69 |
Acceptable |
Industrial Average |
1.03 |
|
Inventory Conversion Period |
168.13 |
|
|
|
|
Inventory Turnover |
2.17 |
Acceptable |
Industrial Average |
3.46 |
|
Receivables Conversion Period |
52.81 |
|
|
|
|
Receivables Turnover |
6.91 |
Impressive |
Industrial Average |
4.82 |
|
Payables Conversion Period |
39.87 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.91 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 134 days at the
end of 2013 to 168 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 2.72 times in year 2013 to 2.17 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.69 times and 0.8
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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.73.46 |
|
Thai Baht |
1 |
Rs.1.85 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.