MIRA INFORM REPORT
|
Report No. : |
353705 |
|
Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
RCI LABSCAN LIMITED |
|
|
|
|
Registered Office : |
24 Rama 1
Road, Rongmuang,
Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
29.09.2008 |
|
|
|
|
Com. Reg. No.: |
0105551110906 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is engaged in
manufacturing and marketing
wide range of industrial chemicals for
electronics, metal finishing,
jewelry, pharmaceuticals &
healthcare products, cosmetics,
foods & supplements, analytical laboratory,
petroleum & gas,
agricultural and compact
disc industries. |
|
|
|
|
No. of Employees : |
140 |
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 : |
Slow but correct |
|
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
RCI LABSCAN LIMITED
SUMMARY
BUSINESS ADDRESS : 24
RAMA 1 ROAD,
RONGMUANG,
PATHUMWAN, BANGKOK
10330, THAILAND
TELEPHONE : [66] 2613-7911-4,
2613-7600-5
FAX : [66] 2613-7915
E-MAIL ADDRESS : sales@rcilabscan.com
exim@rcilabscan.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2008
REGISTRATION NO. : 0105551110906
TAX ID NO. : 3033247978
CAPITAL REGISTERED : BHT.
150,000,000
CAPITAL PAID-UP : BHT.
150,000,000
SHAREHOLDER’S PROPORTION : THAI :
99.43%
IRISH :
0.57%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. UMPHAN VIPRAKASIT,
THAI
MANAGING DIRECTOR
NO. OF STAFF : 140
LINES OF BUSINESS : INDUSTRIAL CHEMICALS
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 September
29, 2008 as
a private limited
company by a
merger among “RCI
Labscan Limited” [Ref. No. 0105551024945], “Labscan Asia
Limited” [Ref. No. 0105538072389]
and “Reagent Chemical
Industry Limited” [Ref. No. 0105534058179], under
the registered name
RCI LABSCAN LIMITED.
Its business objective
is to manufacture
and market various
kinds of industrial
chemicals to both
domestic and overseas
markets. It currently
employs approximately 140
staff.
The subject’s registered
address is 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok
10330, and this
is the subject’s
current operation address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Umphan Viprakasit |
|
Thai |
31 |
|
Mr. Taksin Viprakasit |
|
Thai |
80 |
|
Mrs. Sumarat Viprakasit |
|
Thai |
31 |
|
Mr. Eiam Eiamvananontachai |
|
Thai |
- |
|
Ms. Panarat Viprakasit |
|
Thai |
- |
|
Mr. Pichet Viprakasit |
|
Thai |
31 |
|
Mr. Boonrat Onkor |
|
Thai |
74 |
AUTHORIZED PERSON
Any two of the
above directors can jointly sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Umphan Viprakasit is
the Managing Director.
He is Thai
nationality with the
age of 31
years old.
Mrs. Sumarat Viprakasit is
the Deputy Managing
Director.
She is Thai
nationality with the
age of 31
years old.
Mr. Siriyong Supaprapakorn is
the Marketing Manager.
He is Thai
nationality.
Mr. Monchai Thanasusakul is
the Sales Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in
manufacturing and marketing
wide range of industrial chemicals for
electronics, metal finishing,
jewelry, pharmaceuticals &
healthcare products, cosmetics,
foods & supplements,
analytical laboratory, petroleum & gas, agricultural
and compact disc
industries.
MAJOR BRANDS
“RCI LABSCAN” and “KEMMAR”
PURCHASE
Raw materials are
purchased from suppliers and
agents in both domestic and overseas, such as
Germany, Japan, Malaysia,
India, Singapore, Italy,
Spain and Republic
of China.
MAJOR SUPPLIERS
BASF [Thai] Ltd. : Thailand
Thai MC Co.,
Ltd. : Thailand
SALES
80% of the
products is sold
locally by wholesale
to manufacturers and
end-users, the remaining 20% is exported to Malaysia,
Singapore, Japan, Taiwan,
South Korea, Australia, Indonesia, Republic of China, India, Pakistan,
Hong Kong, Bangladesh,
Vietnam, Philippines and
New Zealand.
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
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
approximately 140 staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is located
in a prime
commercial area.
Factory is located
at 86 Moo
1, T. Bangtorad, A. Muang,
Samutsakorn 74000.
Tel.: [66] 34
845-319-20, Fax: [66]
34 845-321
Warehouses:
- 704 Soi
Prachit, Srinakarin Rd.,
Suanluang, Bangkok 10250
- 99 Moo
9, Soi Wat Laemfapha, Suksawad
Rd., T. Naiklongbangplagod,
A. Phrasamutjedee, Samutprakarn
10290
COMMENT
Subject was formed
in 2008 as
a manufacturer, distributor
and exporter of
industrial chemicals. The
products are for
industrial users. It becomes a reliable company and
to enhance customer
satisfaction.
Despite overall industrial
situation remains slow,
the subject business’s
business
performance is considered
strong.
FINANCIAL INFORMATION
The capital was
registered at Bht. 150,000,000 divided
into 15,000,000 shares
of Bht. 10 each
with fully paid.
MAIN SHAREHOLDERS : [as at
March 25, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Taksin Viprakasit Nationality: Thai Address : 73
Thaklang Rd., T. Thabthieng, A. Muang,
Trang |
3,522,849 |
23.48 |
|
Mr. Umphan Viprakasit Nationality: Thai Address : 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok |
1,872,381 |
12.48 |
|
Mrs. Sumarat Viprakasit Nationality: Thai Address : 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok |
1,839,971 |
12.27 |
|
Mr. Pichet Viprakasit Nationality: Thai Address : 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok |
1,693,762 |
11.29 |
|
Mr. Eiam Eiamvananontachai Nationality: Thai Address : 240
Soi Sirinthorn 2,
Bangplad, Bangkok |
1,650,000 |
11.00 |
|
Ms. Panarat Viprakasit Nationality: Thai Address : 24
Rama 1 Rd.,
Rongmuang, Pathumwan, Bangkok |
1,270,480 |
8.47 |
|
Others |
3,150,557 |
21.01 |
Total Shareholders : 28
Share Structure [as
at March 25,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
27 |
14,914,286 |
99.43 |
|
Foreign - Irish |
1 |
85,714 |
0.57 |
|
Total |
28 |
15,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Vorarat Kiatthanawit No.
8334
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 |
40,068,619.04 |
18,327,556.35 |
27,708,083.71 |
|
Trade Accounts &
Other Receivable |
85,010,104.39 |
80,911,234.50 |
69,465,751.02 |
|
Inventories |
94,153,050.77 |
89,955,740.30 |
98,357,901.72 |
|
|
|
|
|
|
Total Current Assets
|
219,231,774.20 |
189,194,531.15 |
195,531,736.45 |
|
Investment in Subsidiary
|
1,072,265.00 |
1,072,265.00 |
1,072,265.00 |
|
Long-term Loans |
1,404,182.34 |
1,404,182.34 |
1,404,182.34 |
|
Fixed Assets |
271,289,360.21 |
316,107,409.99 |
358,660,115.65 |
|
Intangible Assets |
140,304.55 |
740,563.68 |
1,958,274.27 |
|
Other Non-current Assets |
655,926.80 |
528,000.80 |
1,126,139.89 |
|
Total Assets |
493,793,813.10 |
509,046,952.96 |
559,752,713.60 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
12,024,735.34 |
28,538,017.74 |
35,671,506.95 |
|
Trade Accounts & Other Payable |
47,949,172.33 |
62,179,948.71 |
44,900,915.58 |
|
Current Portion of Long-term Liabilities |
- |
16,000,000.00 |
60,468,919.57 |
|
Accrued Income Tax |
2,349,583.99 |
2,040,146.27 |
805,512.73 |
|
|
|
|
|
|
Total Current Liabilities |
62,323,491.66 |
108,758,112.72 |
141,846,854.83 |
|
Long-term Loans |
47,230,000.00 |
6,930,000.00 |
32,930,000.00 |
|
Employee Benefits
Obligation |
7,813,199.00 |
7,303,721.00 |
10,076,594.95 |
|
Total Liabilities |
117,366,690.66 |
122,991,833.72 |
184,853,449.78 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 15,000,000 shares |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
|
|
|
|
|
Capital Paid |
150,000,000.00 |
150,000,000.00 |
150,000,000.00 |
|
Retained Earnings Appropriated for Statutory Reserve |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
General Reserve |
8,000,000.00 |
8,000,000.00 |
8,000,000.00 |
|
Unappropriated |
203,427,122.44 |
213,055,119.24 |
201,899,263.82 |
|
Total Shareholders' Equity |
376,427,122.44 |
386,055,119.24 |
374,899,263.82 |
|
Total Liabilities &
Shareholders' Equity |
493,793,813.10 |
509,046,952.96 |
559,752,713.60 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
407,258,759.18 |
386,820,258.59 |
345,605,899.58 |
|
Compensation Income |
- |
- |
18,122,395.00 |
|
Other Income |
4,331,329.53 |
6,729,571.96 |
4,450,160.22 |
|
Total Revenues |
411,590,088.71 |
393,549,830.55 |
368,178,454.80 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
298,017,798.75 |
282,481,258.96 |
272,222,230.92 |
|
Selling Expenses |
49,494,288.63 |
47,952,595.02 |
40,534,633.47 |
|
Administrative Expenses |
54,261,137.37 |
46,600,343.31 |
48,540,955.95 |
|
Total Expenses |
401,773,224.75 |
377,034,197.29 |
361,297,820.34 |
|
|
|
|
|
|
Profit before Financial
Cost & Income Tax |
9,816,863.96 |
16,515,633.26 |
6,880,634.46 |
|
Financial Cost |
[2,095,276.77] |
[3,745,770.26] |
[6,053,909.81] |
|
|
|
|
|
|
Profit before Income Tax |
7,721,587.19 |
12,769,863.00 |
826,724.65 |
|
Income Tax |
[2,349,583.99] |
[2,040,146.27] |
[805,512.73] |
|
Net Profit / [Loss] |
5,372,003.20 |
10,729,716.73 |
21,211.92 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.52 |
1.74 |
1.38 |
|
QUICK RATIO |
TIMES |
2.01 |
0.91 |
0.69 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.50 |
1.22 |
0.96 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.82 |
0.76 |
0.62 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
115.31 |
116.23 |
131.88 |
|
INVENTORY TURNOVER |
TIMES |
3.17 |
3.14 |
2.77 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
76.19 |
76.35 |
73.36 |
|
RECEIVABLES TURNOVER |
TIMES |
4.79 |
4.78 |
4.98 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
58.73 |
80.34 |
60.20 |
|
CASH CONVERSION CYCLE |
DAYS |
132.78 |
112.24 |
145.04 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
73.18 |
73.03 |
78.77 |
|
SELLING & ADMINISTRATION |
% |
25.48 |
24.44 |
25.77 |
|
INTEREST |
% |
0.51 |
0.97 |
1.75 |
|
GROSS PROFIT MARGIN |
% |
27.89 |
28.71 |
27.76 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.41 |
4.27 |
1.99 |
|
NET PROFIT MARGIN |
% |
1.32 |
2.77 |
0.01 |
|
RETURN ON EQUITY |
% |
1.43 |
2.78 |
0.01 |
|
RETURN ON ASSET |
% |
1.09 |
2.11 |
0.00 |
|
EARNING PER SHARE |
BAHT |
0.36 |
0.72 |
0.00 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.24 |
0.24 |
0.33 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.31 |
0.32 |
0.49 |
|
TIME INTEREST EARNED |
TIMES |
4.69 |
4.41 |
1.14 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
5.28 |
11.93 |
|
|
OPERATING PROFIT |
% |
(40.56) |
140.03 |
|
|
NET PROFIT |
% |
(49.93) |
50,483.43 |
|
|
FIXED ASSETS |
% |
(14.18) |
(11.86) |
|
|
TOTAL ASSETS |
% |
(3.00) |
(9.06) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is 5.28%. Turnover has increased from THB
386,820,258.59 in 2013 to THB 407,258,759.18 in 2014. While net profit has
decreased from THB 10,729,716.73 in 2013 to THB 5,372,003.20 in 2014. And total
assets has decreased from THB 509,046,952.96 in 2013 to THB 493,793,813.10 in
2014.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
27.89 |
Satisfactory |
Industrial Average |
32.39 |
|
Net Profit Margin |
1.32 |
Deteriorated |
Industrial Average |
3.25 |
|
Return on Assets |
1.09 |
Deteriorated |
Industrial Average |
3.83 |
|
Return on Equity |
1.43 |
Deteriorated |
Industrial Average |
6.21 |
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 27.89%. 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 1.32%.
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 1.09%.
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 1.43%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
3.52 |
Impressive |
Industrial Average |
1.71 |
|
Quick Ratio |
2.01 |
|
|
|
|
Cash Conversion Cycle |
132.78 |
|
|
|
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 3.52 times in 2014, increase from 1.74 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 2.01 times in 2014,
increase from 0.91 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 133 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.24 |
Impressive |
Industrial Average |
0.37 |
|
Debt to Equity Ratio |
0.31 |
Impressive |
Industrial Average |
0.58 |
|
Times Interest Earned |
4.69 |
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 lower the percentage means that the company is using less leverage
and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 4.69 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 0.24 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.50 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.82 |
Acceptable |
Industrial Average |
1.18 |
|
Inventory Conversion Period |
115.31 |
|
|
|
|
Inventory Turnover |
3.17 |
Deteriorated |
Industrial Average |
7.22 |
|
Receivables Conversion Period |
76.19 |
|
|
|
|
Receivables Turnover |
4.79 |
Satisfactory |
Industrial Average |
5.18 |
|
Payables Conversion Period |
58.73 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.79 and 4.78 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 decreased from 116 days at the
end of 2013 to 115 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 3.14 times in year 2013 to 3.17 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.82 times and 0.76
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.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
Thai Baht |
1 |
Rs.1.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.