MIRA INFORM REPORT

 

 

Report No. :

355976

Report Date :

23.12.2015

 

IDENTIFICATION DETAILS

 

Name :

AQUA [THAILAND] LIMITED PARTNERSHIP

 

 

Registered Office :

9th Floor, Building B, Lumpini Center, 573/181 Soi On Nut 5, Sukhumvit 77 Road, Suanluang, Bangkok 10250

 

 

Country :

Thailand

 

 

Date of Incorporation :

24.04.2015

 

 

Com. Reg. No.:

0103558009001

 

 

Legal Form :

Limited Partnership

 

 

Line of Business :

Subject engaged in importing, distributing, exporting  and re-exporting various  kinds of frozen seafood products for food processing industry.

 

 

No. of Employee :

3

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New business 

 

 

Payment Behaviour :

Unknown

 

 

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

           

AQUA  [THAILAND]  LIMITED  PARTNERSHIP

 

 

SUMMARY

 

BUSINESS  ADDRESS                          :           9th  FLOOR,  BUILDING  B,  LUMPINI  CENTER, 

                                                                        573/181  SOI  ON  NUT  5,  SUKHUMVIT  77  ROAD,

                                                                        SUANLUANG,  BANGKOK  10250,  THAILAND

TELEPHONE                                        :           [66]   087  126-5329

FAX                                                      :           -  

E-MAIL  ADDRESS                               :           aqua.thailand@hotmail.com

REGISTRATION  ADDRESS                  :           SAME  AS  BUSINESS  ADDRESS

 

ESTABLISHED                                    :           2015

REGISTRATION  NO.                           :           0103558009001

TAX  ID  NO.                                         :           -

CAPITAL REGISTERED                        :           BHT.   4,000,000

CAPITAL PAID-UP                                :           BHT.   4,000,000

PARTNER’S  PROPORTION                  :           THAI     :   100%

FISCAL YEAR CLOSING DATE             :           -            

LEGAL  STATUS                                  :           LIMITED  PARTNERSHIP

EXECUTIVE                                         :           MS.  PANIDA  NINRAT,  THAI

                                                                        MANAGING  PARTNER

 

NO.  OF  STAFF                                   :           3

LINES  OF  BUSINESS                         :           FROZEN  SEAFOOD  PRODUCTS

                                                                        IMPORTER,  DISTRIBUTOR  AND  EXPORTER

                                                                         

                                                                         

CORPORATE  PROFILE

 

OPERATING  TREND                            :           EARLY  STAGE                       

             

 

HISTORY

 

The  subject  was  established  on  April  24,  2015  as  a  limited  partnership under  the  name style  AQUA  [THAILAND]  LIMITED  PARTNERSHIP  by  Thai  partners,  with the  business objective to import,  distribute and export various  kinds  of  frozen  seafood  products.  It  currently  employs  3  staff.  

 

The  subject’s  registered  address  was  initially  at  7th  Floor,  Building  C,  Lumpini  Center,    577/120  On Nut Road, Suanluang,  Bangkok  10250.

On  July  9,  2015,  the  subject’s  registered  address  was  relocated  to  9th  Floor,  Building  B,  Lumpini  Center,  573/181  Soi  On Nut 5,  Sukhumvit  77 Road,  Suanluang, Bangkok 10250,  and  this  is  the  subject’s  current  operation  address.  

 

 

AUTHORIZED  PERSON

 

Ms. Panida  Ninrat  signs  on  behalf  of  the  subject  with  seal  affixed.  She  also  bears  full  financial  responsibility  by  law.

 

 

MANAGEMENT

 

Ms. Panida  Ninrat  is  the  Managing  Partner.

She  is  Thai  nationality  with  the  age  of  34  years  old.  

 

 

BUSINESS  OPERATIONS

 

The  subject’s  business  is  engaged in   importing,  distributing,  exporting   and  re-exporting  various  kinds  of  frozen  seafood  products  for  food  processing  industry.  Its  business  has  been  started  in  October  2015.

 

 

PURCHASE

 

The   products  are  purchased  from  suppliers   both  domestic  and  overseas  in  India  and  Republic  of  China.

 

SALES [LOCAL]

 

Some  of  the  products  are  sold  locally  by  wholesale  to  traders  and  manufacturers.

 

 

EXPORT

 

Some  of  the   products  are  exported  and  re-exported  to  Australia,  South  Africa,  Germany  and  Republic  of  China.

 

 

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  employs  3 staff. 

 

 

LOCATION  DETAILS

 

The  premise  is  rented  for  administrative  office  at  the  heading  address.  Premise  is  located  in  commercial/residential  area.

 

 

COMMENT

 

The  subject  has  started  its  business  in  October  2015.    It  is  still  in  early  stage   with   no 

operation  result  at  a  time  being.  Any  business  engagement  should  be  on  secured  basis only.

FINANCIAL  INFORMATION

 

The  capital  was  registered  at  Bht. 4,000,000  which was carried by  2  persons  as  followed:

 

            Name                                                   Age      Amount

 

Ms. Panida  Ninrat                                            [34]       Bht.  3,500,000  [unlimited  partner]

Address : 11  Moo  4,  T. Banklong, 

                A. Muang,  Phisanuloke

 

Mrs. Mayuree  Nilrat                                         [55]       Bht.     500,000             

Address : 18/3  Moo  4,  T. Samrong, 

                A. Phrapradaeng,  Samutprakarn

                                   

Note:

 

Due  to  the  subject  was  established  in  2015,  financial  statement  has  not  been  available    at  the  Commercial  Registration  Department.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.30

UK Pound

1

Rs.98.71

Euro

1

Rs.72.33

THB

1

Rs.1.84

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

AMT

 

 

Report Prepared by :

TRU

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.