MIRA INFORM REPORT
|
Report No. : |
307723 |
|
Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SANGITA ENTERPRISES CO., LTD. |
|
|
|
|
Registered Office : |
Room 6, 13th Floor, Bangkok Gems & Jewelry Building, 322/24 Surawongse Road, Siphaya, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.102.2013 |
|
|
|
|
Date of Incorporation : |
17.02.2005 |
|
|
|
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Com. Reg. No.: |
0105548024174 |
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|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
Subject is engaged in
importing, distributing and re-exporting
various kinds of diamonds and
gems, as well
as exporting of
the local products. |
|
|
|
|
No. of Employee : |
2 |
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 |
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Payment Behaviour : |
Slow but correct |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
THAILAND ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand achieved steady growth due largely to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. Unemployment, at less than 1% of the labor force, stands as one of the lowest levels in the world, which puts upward pressure on wages in some industries. Thailand also attracts nearly 2.5 million migrant workers from neighboring countries. 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 economy has weathered internal and external economic shocks in recent years. The global economic recession severely cut Thailand's exports, with most sectors experiencing double-digit drops. In late 2011 Thailand's recovery was interrupted by historic flooding in the industrial areas in Bangkok and its five surrounding provinces, crippling the manufacturing sector. The government approved flood mitigation projects worth $11.7 billion, which were started in 2012, to prevent similar economic damage, and an additional $75 billion for infrastructure over the following seven years. This was expected to lead to an economic upsurge but growth has remained slow, in part due to ongoing political unrest and resulting uncertainties. Spending on infrastructure will require re-approval once a new government is seated.
|
Source
: CIA |
Company
name
SANGITA
ENTERPRISES CO., LTD.
SUMMARY
BUSINESS
ADDRESS : ROOM
6, 13th FLOOR,
BANGKOK GEMS & JEWELRY BUILDING,
322/24 SURAWONGSE
ROAD,
SIPHAYA, BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 2238-0943-4,
2267-1145-6
FAX :
-
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2005
REGISTRATION
NO. : 0105548024174
TAX
ID NO. : 3031699724
CAPITAL REGISTERED : BHT. 6,000,000
CAPITAL PAID-UP : BHT.
6,000,000
SHAREHOLDER’S PROPORTION : THAI : 51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SAMBHU PRASAD AGRAWALA,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : DIAMONDS, GEMS
AND JEWELRY PRODUCTS
IMPORTTER
, 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 February 17,
2005 as a
private limited company
under the registered name SANGITA ENTERPRISES CO., LTD.,
by Thai and
Indian groups, with
the business objective
to import, distribute
and export diamonds,
gems and jewelry
products. It currently
employs 2 staff.
The subject’s registered address is Room 6, 13th Floor,
Bangkok Gems & Jewelry
Building, 322/24 Surawongse Road,
Siphaya, Bangrak, Bangkok 10500, and
this is the subject’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sambhu Prasad Agrawala |
|
Indian |
24 |
AUTHORIZED
PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sambhu Prasad
Agrawala is the
Managing Director.
He is Indian
nationality with the
age of 24
years old.
BUSINESS
OPERATIONS
The subject is
engaged in importing, distributing and
re-exporting various kinds of diamonds
and gems, as
well as exporting
of the local
products.
PURCHASE
The products are
purchased from both
domestic and overseas
suppliers in India.
SALES
The products are
sold to wholesalers
and manufacturers both
locally and overseas
in India, Republic of
China and Japan.
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.
EMPLOYMENT
The subject
currently employs 2
staff.
LOCATION
DETAILS
The premise
is rented for administrative office
at the heading
address. Premise is
located in prime
commercial area.
COMMENT
The
subject’s operating performance
in 2013 was
satisfactory with an increase
in both sales revenue
and net profit
comparing to the
previous year. Its
business is growing
moderately in line
with the improvement
and growth of
jewelry industry.
FINANCIAL
INFORMATION
The
capital was registered at Bht. 2,000,000 divided into 20,000
shares of Bht. 100
each with fully paid.
The
capital was increased
later as follows:
Bht.
4,000,000 on November
22, 2005
Bht.
6,000,000 on April
26, 2011
The
latest registered capital
was increased to
Bht. 6,000,000 divided
into 60,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as at
January 6, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Bunyarat Rasmeesukhanon Nationality: Thai Address : 21 Soi
Premier 1, Nongbon,
Prawet, Bangkok |
30,300 |
50.50 |
|
Mr. Sambhu Prasad Agrawala Nationality: Indian Address : 322/24
Surawongse Road, Siphaya,
Bangrak, Bangkok |
24,600 |
41.00 |
|
Mr. Amar Kumar Agrawala Nationality: Indian Address : 322/25
Surawongse Road, Siphaya,
Bangrak, Bangkok |
4,800 |
8.00 |
|
Ms. Naiyana Nochai Nationality: Thai Address : 65
Moo 1, T. Thapla,
A. Thapla, Utaradit |
300 |
0.50 |
Total Shareholders : 4
Share Structure [as at
January 6, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
2 |
30,600 |
51.00 |
|
Foreign - Indian |
2 |
29,400 |
49.00 |
|
Total |
4 |
60,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Siriporn Settajindalert No.
7119
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December 31,
2013, 2012 &
2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
257,171.71 |
1,149,715.93 |
382,457.06 |
|
Trade Accounts &
Other Receivable |
48,298,963.57 |
85,482.00 |
4,882,264.77 |
|
Inventories |
42,664,892.26 |
9,946,376.41 |
37,716,209.56 |
|
Other Current Assets
|
- |
2,520.00 |
2,520.00 |
|
|
|
|
|
|
Total Current Assets
|
91,221,027.54 |
11,184,094.34 |
42,983,451.39 |
|
|
|
|
|
|
Fixed Assets |
64,427.07 |
8.77 |
8.77 |
|
Total Assets |
91,285,454.61 |
11,184,103.11 |
42,983,460.16 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Short-term Loan From Financial Institutions |
40,575,994.75 |
- |
- |
|
Trade Accounts & Other Payable |
47,192,468.96 |
9,597,008.33 |
43,116,426.05 |
|
Accrued Income Tax |
275,641.34 |
193,552.87 |
24,027.76 |
|
Other Current Liabilities |
15,760.11 |
1,023.91 |
- |
|
|
|
|
|
|
Total Current Liabilities |
88,059,865.16 |
9,791,585.11 |
43,140,453.81 |
|
Total Liabilities |
88,059,865.16 |
9,791,585.11 |
43,140,453.81 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par value authorized, issued and fully paid share capital 60,000 shares |
6,000,000.00 |
6,000,000.00 |
6,000,000.00 |
|
|
|
|
|
|
Capital Paid |
6,000,000.00 |
6,000,000.00 |
6,000,000.00 |
|
Retained Earning Unappropriated |
[2,774,410.55] |
[4,607,482.00] |
[6,156,993.65] |
|
Total Shareholders' Equity |
3,225,589.45 |
1,392,518.00 |
[156,993.65] |
|
Total Liabilities & Shareholders' Equity |
91,285,454.61 |
11,184,103.11 |
42,983,460.16 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
139,104,574.01 |
88,228,040.16 |
43,614,697.42 |
|
Gain on Exchange Rate |
- |
2,170,629.46 |
- |
|
Total Revenues |
139,104,574.01 |
90,398,669.62 |
43,614,697.42 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
127,920,087.17 |
86,107,599.18 |
41,012,773.69 |
|
Selling Expenses |
118,091.65 |
401,467.76 |
67,317.33 |
|
Administrative Expenses |
2,834,840.25 |
1,869,538.16 |
2,348,701.08 |
|
Loss on Exchange Rate |
4,107,954.65 |
- |
151,654.27 |
|
Total Expenses |
134,980,973.72 |
88,378,605.10 |
43,580,446.37 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income Tax |
4,123,600.29 |
2,020,064.52 |
34,251.05 |
|
Financial Cost |
[1,824,887.50] |
- |
- |
|
Income Tax |
[465,641.34] |
[470,552.87] |
[13,123.50] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,833,071.45 |
1,549,511.65 |
21,127.55 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.04 |
1.14 |
1.00 |
|
QUICK RATIO |
TIMES |
0.55 |
0.13 |
0.12 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2,159.10 |
10,060,209.82 |
4,973,169.60 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.52 |
7.89 |
1.01 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
121.74 |
42.16 |
335.66 |
|
INVENTORY TURNOVER |
TIMES |
3.00 |
8.66 |
1.09 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
126.73 |
0.35 |
40.86 |
|
RECEIVABLES TURNOVER |
TIMES |
2.88 |
1,032.12 |
8.93 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
134.66 |
40.68 |
383.72 |
|
CASH CONVERSION CYCLE |
DAYS |
113.81 |
1.83 |
(7.20) |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.96 |
97.60 |
94.03 |
|
SELLING & ADMINISTRATION |
% |
2.12 |
2.57 |
5.54 |
|
INTEREST |
% |
1.31 |
- |
- |
|
GROSS PROFIT MARGIN |
% |
8.04 |
4.86 |
5.97 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.96 |
2.29 |
0.08 |
|
NET PROFIT MARGIN |
% |
1.32 |
1.76 |
0.05 |
|
RETURN ON EQUITY |
% |
56.83 |
111.27 |
- |
|
RETURN ON ASSET |
% |
2.01 |
13.85 |
0.05 |
|
EARNING PER SHARE |
BAHT |
30.55 |
25.83 |
0.35 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.96 |
0.88 |
1.00 |
|
DEBT TO EQUITY RATIO |
TIMES |
27.30 |
7.03 |
(274.79) |
|
TIME INTEREST EARNED |
TIMES |
2.26 |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
57.66 |
102.29 |
|
|
OPERATING PROFIT |
% |
104.13 |
5,797.82 |
|
|
NET PROFIT |
% |
18.30 |
7,234.08 |
|
|
FIXED ASSETS |
% |
734,530.22 |
- |
|
|
TOTAL ASSETS |
% |
716.21 |
(73.98) |
|
ANNUALGROWTH
: EXCELLENT
An annual sales growth is 57.66%.
Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
8.04 |
Impressive |
Industrial
Average |
3.01 |
|
Net Profit Margin |
1.32 |
Impressive |
Industrial
Average |
0.58 |
|
Return on Assets |
2.01 |
Acceptable |
Industrial
Average |
3.55 |
|
Return on Equity |
56.83 |
Impressive |
Industrial
Average |
14.14 |
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. Gross Profit Margin is 8.04%. 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. Net Profit Margin ratio is 1.32%,
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. When compared with the
industry average, it was lower, the
company's figure is 2.01%.
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 56.83%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.04 |
Acceptable |
Industrial
Average |
1.60 |
|
Quick Ratio |
0.55 |
|
|
|
|
Cash Conversion Cycle |
113.81 |
|
|
|
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 1.04 times in 2013, decrease from 1.14 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 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 0.55 times in 2013,
increase from 0.13 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 114 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.96 |
Acceptable |
Industrial Average |
0.73 |
|
Debt to Equity Ratio |
27.30 |
Risky |
Industrial Average |
2.73 |
|
Times Interest Earned |
2.26 |
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 2.26 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 0.96 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
2,159.10 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.52 |
Deteriorated |
Industrial
Average |
6.16 |
|
Inventory Conversion Period |
121.74 |
|
|
|
|
Inventory Turnover |
3.00 |
Deteriorated |
Industrial
Average |
12.03 |
|
Receivables Conversion Period |
126.73 |
|
|
|
|
Receivables Turnover |
2.88 |
Deteriorated |
Industrial
Average |
8.23 |
|
Payables Conversion Period |
134.66 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.88 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 42 days at the
end of 2012 to 122 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 8.66 times in year 2012 to 3 times in
year 2013.
The company's Total Asset Turnover is calculated as 1.52 times and 7.89
times in 2013 and 2012 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
DIAMOND INDUSTRY – INDIA
-
From
time immemorial, India is well known in the world as the birthplace for
diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The
achievement of the Indian diamond industry was possible only due to combination
of the manufacturing skills of the Indian workforce and the untiring and
unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The
area of study of family owned diamond businesses derives its importance from
the huge conglomerate of family run organizations which operate in the diamond
industry since many generations.
-
Some
of the basic traits of family run business enterprises include spirit of
entrepreneurship, mutual trust lowers transaction costs, small, nimble and
quick to react, information as a source of advantage and philanthropy.
-
Family
owned diamond businesses need to improve on many fronts including higher
standard of corporate governance, long-term performance – focused strategies,
modern management and technology.
-
Utmost
caution is to be exercised while dealing with some medium and large diamond
traders which are usually engaged in fictitious import – export, inter-company
transactions, financially assisted by banks. In the process, several public
sector banks lost several hundred million rupees. They mostly diverted borrowed
money for diamond business into real estate and capital markets.
-
Excerpts
from Times of India dated 30th October 2010 is as under –
-
Gem
& Jewellery Export Promotion Council in its statistical data has shown the
export of polished diamonds to have increase by 28 % in February 2013. Compared
to $ 1.4 bn worth of polished diamond export in February, 2012, India exported
$ 1.84 billion worth of polished diamonds in February 2013. A senior executive
of GJEPC said, “Export of cut and polished diamonds started falling month-wise
after the imposition of 2 % of import duty on the polished diamonds. But
February, 2013 has given a new ray of hope to the industry as the export of
polished diamonds has actually increased by 28 %. It means the industry
is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The
banking sector has started exercising restraint while following prudent risk
management norms when lending money to gems and jewellery sector. This follows the
implementation of Basel III accord – a global voluntary regulatory standard on
bank capital adequacy, stress testing and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.14 |
|
|
1 |
Rs.95.78 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
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Report Prepared
by : |
ANK |
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.