MIRA INFORM REPORT
|
Report No. : |
357097 |
|
Report Date : |
30.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
AGRICULTURE COLD STORAGE CO., LTD. |
|
|
|
|
Registered Office : |
29/2 Moo 2,
Rangsit-Nakornnayok Road, T.
Buengyeetho, A. Thanyaburi,
Pathumthani 12130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
22.07.1996 |
|
|
|
|
Com. Reg. No.: |
0135539003356 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is engaged in trading business of agricultural
products. It imports,
distributes and exports various
kinds of agricultural products
such as nut,
bean, tamarind, dried
chili, garlic, fresh
onion, shallot, dried
longan. |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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
AGRICULTURE COLD STORAGE CO., LTD.
SUMMARY
BUSINESS ADDRESS : 29/2 MOO 2,
RANGSIT-NAKORNNAYOK ROAD,
T.
BUENGYEETHO, A. THANYABURI,
PATHUMTHANI 12130,
THAILAND
TELEPHONE : [66] 2990-0715
FAX : [66] 2992-0461
E-MAIL ADDRESS : svimol@gmail.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1996
REGISTRATION NO. : 0135539003356
TAX ID NO. : 3181023080
CAPITAL REGISTERED : BHT.
25,000,000
CAPITAL PAID-UP : BHT.
10,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MRS. VIMOL SURIYAMONGKOL, THAI
MANAGING DIRECTOR
NO. OF STAFF : 15
LINES OF BUSINESS : AGRICULTURAL PRODUCTS
IMPORTER, 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 July
22, 1996 as
a private limited
company under the registered
name AGRICULTURE COLD
STORAGE CO., LTD.,
by Thai groups, with the
objective to engage
in agricultural trading
business. It currently employs
15 staff.
The subject’s registered
address is 29/2 Moo
2, Rangsit-Nakornnayok Rd.,
T. Buengyeetho, A. Thanyaburi, Pathumthani
12130, and this
is the subject’s
current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Thawatchai Methakittrakul |
|
Thai |
54 |
|
Mrs. Vimol Suriyamongkol |
|
Thai |
53 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mrs. Vimol Suriyamongkol is
the Managing Director.
She is Thai
nationality with the
age of 53
years old.
BUSINESS OPERATIONS
The subject is engaged in
trading business of
agricultural products. It imports,
distributes and exports various
kinds of agricultural products
such as nut,
bean, tamarind, dried
chili, garlic, fresh
onion, shallot, dried
longan.
PURCHASE
The products are
purchased from both
domestic and overseas suppliers
mainly India, Republic
of China, Myanmar
and Taiwan.
SALES
The local products
are sold by
wholesale to both
local and overseas
customers mainly Republic
of China, Hong
Kong, Japan and
Singapore.
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
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The subject employs
15 staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading address. Premise is
located in provincial, on
the outskirts of
Bangkok.
COMMENT
The subject still has
a healthy business.
Despite slow consumption
in domestic market,
its sales remain
strong and expanding
steadily.
FINANCIAL INFORMATION
The capital was
registered at Bht. 5,000,000
divided into 5,000 shares of
Bht. 1,000 each with
fully paid.
On September 9,
2004, the capital
was increased to
Bht. 25,000,000 divided
into
25,000 shares of
Bht. 1,000 each, with
the current capital
paid-up at Bht.
10,000,000 divided into
20,000 shares of
Bht. 250 each
and 5,000 shares
of Bht. 1,000 each.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30,
2015] at Bht.
10,000,000 of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Thawatchai Methakittrakul Nationality: Thai Address : 86/119
Wuthakas Rd., Taladplu,
Thonburi, Bangkok |
7,350 |
29.40 |
|
Mrs. Vimol Suriyamongkol Nationality: Thai Address : 600/440
Moo 14, T. Kukot,
A. Lamlukka, Pathumthani
|
7,350 |
29.40 |
|
Mr. Sakchai Methakittrakul Nationality: Thai Address : 29/2
Moo 2, T. Buengyeetho, A. Thanyaburi, Pathumthani |
5,000 |
20.00 |
|
Mr. Thongchai Methakittrakul Nationality: Thai Address : 86/119
Wuthakas Rd., Taladplu,
Thonburi, Bangkok |
5,000 |
20.00 |
|
Mr. Uthai Kootrakul Nationality: Thai Address : 44/183
Wuthakas Rd., Bangkor,
Jomthong, Bangkok |
100 |
0.40 |
|
Mrs. Ratchanee Kootrakul Nationality: Thai Address : 44/186
Wuthakas Rd., Bangkor,
Jomthong, Bangkok |
50 |
0.20 |
|
Mr. Paisal Kootrakul Nationality: Thai Address : 44/183
Wuthakas Rd., Bangkor,
Jomthong, Bangkok |
50 |
0.20 |
|
Mr. Preecha Kootrakul Nationality: Thai Address : 44/186
Wuthakas Rd., Bangkor, Jomthong, Bangkok |
50 |
0.20 |
|
|
|
|
|
Mrs. Vathinee Suebjarkjul Nationality: Thai Address : 44/183
Wuthakas Rd., Bangkor,
Jomthong, Bangkok |
50 |
0.20 |
Total Shareholders : 9
Share Structure [as
at April 30, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
9 |
25,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
9 |
25,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Tanakit Thepsumethanon No.
6701
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 |
4,062,707.92 |
3,162,710.88 |
7,005,317.93 |
|
Trade Accounts &
Other Receivable |
1,892,698.56 |
293,254.04 |
2,180,396.76 |
|
Inventories |
41,128,478.16 |
42,792,344.12 |
44,385,528.20 |
|
Other Current Assets
|
- |
465,000.00 |
- |
|
|
|
|
|
|
Total Current Assets
|
47,083,884.64 |
46,713,309.04 |
53,571,242.89 |
|
|
|
|
|
|
Long-term Investment
|
4,403,000.00 |
4,403,000.00 |
4,403,000.00 |
|
Long-term Loans |
- |
900,000.00 |
- |
|
Fixed Assets |
9,540,645.00 |
8,684,943.71 |
8,944,176.69 |
|
Other Non-current Assets |
1,480,997.08 |
1,015,997.08 |
1,015,997.08 |
|
Total Assets |
62,508,526.72 |
61,717,249.83 |
67,934,416.66 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Trade Accounts & Other
Payable |
33,059,207.03 |
48,448,821.47 |
47,283,302.20 |
|
Current Portion of
Hire-purchase Payable |
292,640.16 |
- |
226,983.00 |
|
Other Current Liabilities |
21,063.01 |
59,048.91 |
58,514.33 |
|
|
|
|
|
|
Total Current Liabilities |
33,372,910.20 |
48,507,870.38 |
47,568,799.53 |
|
Long-term Loans |
26,730,990.00 |
4,100,000.00 |
4,300,000.00 |
|
Hire-purchase Payable |
634,053.78 |
- |
- |
|
Total Liabilities |
60,737,953.98 |
52,607,870.38 |
51,868,799.53 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized and
issued share capital
25,000 shares |
25,000,000.00 |
25,000,000.00 |
25,000,000.00 |
|
|
|
|
|
|
Capital Paid |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
Retained Earning -
Unappropriated [Deficit] |
[8,229,427.26] |
[890,620.55] |
6,065,617.13 |
|
Total Shareholders' Equity |
1,770,572.74 |
9,109,379.45 |
16,065,617.13 |
|
Total Liabilities &
Shareholders' Equity |
62,508,526.72 |
61,717,249.83 |
67,934,416.66 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
114,428,136.82 |
126,461,296.22 |
92,643,345.23 |
|
Gain on Disposal of Assets |
- |
- |
119,999.00 |
|
Gain on Exchange Rate |
8,932.05 |
- |
1,217,955.52 |
|
Compensation Income |
- |
- |
1,005,687.67 |
|
Other Income |
10,291.46 |
135,970.72 |
1,051,452.51 |
|
Total Revenues |
114,447,360.33 |
126,597,266.94 |
96,038,439.93 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
108,946,678.52 |
118,201,307.19 |
84,013,611.82 |
|
Selling Expenses |
4,435,201.29 |
9,269,290.64 |
2,767,889.06 |
|
Administrative Expenses |
8,211,995.13 |
5,717,971.77 |
5,318,189.38 |
|
Loss on Exchange Rate |
- |
200,935.02 |
- |
|
Total Expenses |
121,593,874.94 |
133,389,504.62 |
92,099,690.26 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
[7,146,514.61] |
[6,792,237.68] |
3,938,749.67 |
|
Financial Cost |
[192,292.10] |
[164,000.00] |
[164,000.00] |
|
Profit / [Loss] before Income
Tax |
[7,338,806.71] |
[6,956,237.68] |
3,774,749.67 |
|
Income Tax |
- |
- |
[393,754.28] |
|
|
|
|
|
|
Net Profit / [Loss] |
[7,338,806.71] |
[6,956,237.68] |
3,380,995.39 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.41 |
0.96 |
1.13 |
|
QUICK RATIO |
TIMES |
0.18 |
0.07 |
0.19 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
11.99 |
14.56 |
10.36 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.83 |
2.05 |
1.36 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
137.79 |
132.14 |
192.83 |
|
INVENTORY TURNOVER |
TIMES |
2.65 |
2.76 |
1.89 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
6.04 |
0.85 |
8.59 |
|
RECEIVABLES TURNOVER |
TIMES |
60.46 |
431.23 |
42.49 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
110.76 |
149.61 |
205.42 |
|
CASH CONVERSION CYCLE |
DAYS |
33.07 |
(16.62) |
(4.00) |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.21 |
93.47 |
90.68 |
|
SELLING & ADMINISTRATION |
% |
11.05 |
11.85 |
8.73 |
|
INTEREST |
% |
0.17 |
0.13 |
0.18 |
|
GROSS PROFIT MARGIN |
% |
4.81 |
6.64 |
12.98 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(6.25) |
(5.37) |
4.25 |
|
NET PROFIT MARGIN |
% |
(6.41) |
(5.50) |
3.65 |
|
RETURN ON EQUITY |
% |
(414.49) |
(76.36) |
21.04 |
|
RETURN ON ASSET |
% |
(11.74) |
(11.27) |
4.98 |
|
EARNING PER SHARE |
BAHT |
(733.88) |
(695.62) |
338.10 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.97 |
0.85 |
0.76 |
|
DEBT TO EQUITY RATIO |
TIMES |
34.30 |
5.78 |
3.23 |
|
TIME INTEREST EARNED |
TIMES |
(37.16) |
(41.42) |
24.02 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(9.52) |
36.50 |
|
|
OPERATING PROFIT |
% |
5.22 |
(272.45) |
|
|
NET PROFIT |
% |
(5.50) |
(305.75) |
|
|
FIXED ASSETS |
% |
9.85 |
(2.90) |
|
|
TOTAL ASSETS |
% |
1.28 |
(9.15) |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is -9.52%. Turnover has decreased from THB
126,461,296.22 in 2013 to THB 114,428,136.82 in 2014. While net profit has decreased
from THB -6,956,237.68 in 2013 to THB -7,338,806.71 in 2014. And total assets
has increased from THB 61,717,249.83 in 2013 to THB 62,508,526.72 in 2014.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.81 |
Deteriorated |
Industrial Average |
25.02 |
|
Net Profit Margin |
(6.41) |
Deteriorated |
Industrial Average |
0.42 |
|
Return on Assets |
(11.74) |
Deteriorated |
Industrial Average |
0.89 |
|
Return on Equity |
(414.49) |
Deteriorated |
Industrial Average |
3.46 |
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 4.81%. 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 -6.41%.
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 -11.74%.
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 -414.49%.
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 |
1.41 |
Impressive |
Industrial Average |
1.17 |
|
Quick Ratio |
0.18 |
|
|
|
|
Cash Conversion Cycle |
33.07 |
|
|
|
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 1.41 times in 2014, increased from 0.96 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 0.18 times in 2014,
increased from 0.07 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 34 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
0.97 |
Acceptable |
Industrial Average |
0.70 |
|
Debt to Equity Ratio |
34.30 |
Risky |
Industrial Average |
2.35 |
|
Times Interest Earned |
(37.16) |
Risky |
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 -37.17 lower than 1, so the company is not generating
enough cash from EBIT to meet its interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.97 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
11.99 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.83 |
Satisfactory |
Industrial Average |
2.12 |
|
Inventory Conversion Period |
137.79 |
|
|
|
|
Inventory Turnover |
2.65 |
Acceptable |
Industrial Average |
4.46 |
|
Receivables Conversion Period |
6.04 |
|
|
|
|
Receivables Turnover |
60.46 |
Impressive |
Industrial Average |
3.24 |
|
Payables Conversion Period |
110.76 |
|
|
|
The company's Account Receivable Ratio is calculated as 60.46 and 431.23
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 decreased from 2013. 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 132 days at the
end of 2013 to 138 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 2.76 times in year 2013 to 2.65 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.83 times and 2.05
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 Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.98.91 |
|
Euro |
1 |
Rs.72.85 |
|
Thai Baht |
1 |
Rs.1.84 |
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.