MIRA INFORM REPORT
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Report No. : |
307816 |
|
Report Date : |
17.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHIZUKI ELECTRIC [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
111 Bangchan Industrial
Estate, Soi Serithai 54,
Kannayao, Bangkok 10230, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
24.01.2007 |
|
|
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Com. Reg. No.: |
0105550008288 |
|
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|
|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
Subject is engaged
in manufacturing, distributing and
exporting of electrical and electronic components such
as capacitor and
related equipment, power
supply equipment and electronic
parts for variety
of industries. |
|
|
|
|
No. of Employee : |
100 |
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 : |
Good |
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|
|
Payment Behaviour : |
Regular |
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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 |
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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
SHIZUKI
ELECTRIC [THAILAND] CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 111
BANGCHAN INDUSTRIAL ESTATE,
SOI SERITHAI
54, KANNAYAO,
BANGKOK 10230,
THAILAND
TELEPHONE : [66] 2919-9600,
2919-9280
FAX :
[66] 2919-9953
E-MAIL
ADDRESS :
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2007
REGISTRATION
NO. : 0105550008288
TAX
ID NO. : 3032515115
CAPITAL REGISTERED : BHT. 33,000,000
CAPITAL PAID-UP : BHT.
33,000,000
SHAREHOLDER’S PROPORTION : THAI :
30.00%
JAPANESE :
70.00%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. ATSUO MORIKAWA,
JAPANESE
VICE PRESIDENT
NO.
OF STAFF : 100
LINES
OF BUSINESS : ELECTRICAL AND
ELECTRONIC COMPONENTS
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on January 24,
2007 as a private
limited company under
the registered name SHIZUKI
ELECTRIC [THAILAND] CO., LTD., by
Thai and Japanese
groups, with the
business objective to
manufacture and supply
electrical and electronic
components for various
industries of both
domestic and overseas
markets. It currently employs approximately
100 staff.
The subject is
a subsidiary of Shizuki
Electric Co., Inc.
in Japan.
The subject’s registered address is 111 Bangchan Industrial Estate, Soi
Serithai 54, Kannayao, Bangkok 10230,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Tetsuya Tomomatsu |
|
Japanese |
60 |
|
Mr. Atsuo Morikawa |
[x] |
Japanese |
62 |
|
Mr. Somjin Leelakate |
|
Thai |
49 |
|
Mr. Masato Banzai |
|
Japanese |
56 |
|
Mr. Kaoru Ito |
[x] |
Japanese |
64 |
|
Mr. Nobuaki Adachi |
|
Japanese |
60 |
AUTHORIZED
PERSON
Any of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Atsuo Morikawa is
the Vice President.
He is Japanese
nationality with the
age of 62
years old.
Mr. Sommai Labaiyuso is
the Factory Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in
manufacturing, distributing and exporting of
electrical and electronic
components such as
capacitor and related
equipment, power supply equipment and
electronic parts for
variety of industries.
PURCHASE
Its raw material
are purchased from
suppliers both in domestic and
overseas in Japan.
SALES
80% of the
products is sold
locally by wholesale
to manufacturers and
end-users, the remaining
20% is exported
to Japan, Malaysia
and Republic of
China.
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.
The
Siam Commercial Bank
Public Co., Ltd.
EMPLOYMENT
The
subject currently employs
approximately 100 staff.
LOCATION
DETAILS
The premise
is owned for administrative office,
factory and warehouse at
the heading address.
Premise is located
in industrial area.
COMMENT
Sluggish
economic growth, swelling
household debt and
shrinking purchasing power had
affected the subject’s
sales in 2013.
Meanwhile global economic
recovery remained hazy
and this also
had negative implications
for Thai exports
throughout the year 2014.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 33,000,000 divided
into 33,000 shares
of Bht. 1,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as
at July 29,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Shizuki Electric Co.,
Inc. Nationality: Japanese Address : 10-45
Taisha-cho,
Nishinomiya-City, Hyogo, Japan |
23,096 |
69.99 |
|
Mr. Somjin Leelakate Nationality: Thai Address : 392
Soi Sukhumvit 79, Prakanongnua,
Wattana, Bangkok |
3,960 |
12.00 |
|
Mitsubishi Electric Automation
[Thailand] Co., Ltd. Nationality: Thai Address : 10-45
Taisha-cho,
Nishinomiya-City, Hyogo, Japan |
3,300 |
10.00 |
|
Mrs. Valeeporn Ingthanet Nationality: Thai Address : 117
Navathani Road, Kannayao, Bangkok |
2,640 |
8.00 |
|
Mr. Tetsuya Tomomatsu Nationality: Japanese Address : 10-45
Taisha-cho,
Nishinomiya-City, Hyogo, Japan |
1 |
|
|
Mr. Kaoru Ito Nationality: Japanese Address : 10-45
Taisha-cho,
Nishinomiya-City, Hyogo, Japan |
1 |
= 0.01 |
|
Mr. Atsuo Morikawa Nationality: Japanese Address : 10-45
Taisha-cho,
Nishinomiya-City, Hyogo, Japan |
1 |
|
|
Mr. Nobuaki Adachi Nationality: Japanese Address : 10-45
Taisha-cho,
Nishinomiya-City, Hyogo, Japan |
1 |
|
Total Shareholders : 8
Share Structure [as
at July 29,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
9,900 |
30.00 |
|
Foreign-Japanese |
5 |
23,100 |
70.00 |
|
Total |
8 |
33,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Nongnuch Pianwanvanich No.
7424
BALANCE
SHEET [BAHT]
The latest financial figures published
as at March
31, 2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
106,907,181.43 |
67,217,887.92 |
27,968,696.03 |
|
Trade Accounts &
Notes Receivable |
61,424,999.83 |
47,687,649.81 |
64,791,867.95 |
|
Trade Accounts Receivable - Related company |
20,418,166.33 |
22,769,765.53 |
14,695,943.25 |
|
Inventories |
25,492,033.71 |
28,343,478.07 |
30,200,254.75 |
|
Refundable Value Added Tax |
141,292.64 |
456,481.62 |
109,998.18 |
|
Other Current Assets
|
270,761.32 |
348,365.66 |
565,067.37 |
|
|
|
|
|
|
Total Current Assets
|
214,654,435.26 |
166,823,628.61 |
138,331,827.53 |
|
|
|
|
|
|
Fixed Assets |
28,120,835.81 |
26,344,820.72 |
23,796,444.38 |
|
Intangible Assets |
3,316,697.25 |
4,372,715.23 |
5,428,733.21 |
|
Other Non - current Assets |
335,644.86 |
350,882.95 |
194,882.95 |
|
Total Assets |
246,427,613.18 |
197,892,047.51 |
167,751,888.07 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Trade Accounts Payable
- Related company |
20,126,652.03 |
11,572,269.28 |
20,098,274.20 |
|
Trade Accounts Payable |
33,543,767.89 |
35,041,392.62 |
35,583,608.03 |
|
Accrued Expenses - Related company |
13,287,553.41 |
12,389,264.38 |
19,143,813.48 |
|
Accrued Income Tax |
7,023,111.19 |
10,232,650.66 |
9,543,517.57 |
|
Accrued Expenses |
2,213,406.07 |
1,812,765.04 |
2,551,184.00 |
|
Other Current Liabilities |
3,431,737.51 |
4,505,904.50 |
4,551,493.21 |
|
|
|
|
|
|
Total Current Liabilities |
79,626,228.10 |
75,554,246.48 |
91,471,890.49 |
|
|
|
|
|
|
Provision for Employee
Benefits |
2,791,863.43 |
2,371,721.54 |
1,756,918.62 |
|
Total Liabilities |
82,418,091.53 |
77,925,968.02 |
93,228,809.11 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 33,000 shares |
33,000,000.00 |
33,000,000.00 |
33,000,000.00 |
|
|
|
|
|
|
Capital Paid |
33,000,000.00 |
33,000,000.00 |
33,000,000.00 |
|
Retained Earnings: Appropriated for Statutory
Reserve |
3,300,000.00 |
3,093,000.00 |
1,903,000.00 |
|
Unappropriated |
127,709,521.65 |
83,873,079.49 |
39,620,078.96 |
|
Total Shareholders' Equity |
164,009,521.65 |
119,966,079.49 |
74,523,078.96 |
|
Total Liabilities & Shareholders' Equity |
246,427,613.18 |
197,892,047.51 |
167,751,888.07 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
445,325,674.71 |
464,904,214.32 |
380,576,850.76 |
|
Other Income |
1,656,370.27 |
1,089,233.62 |
770,259.79 |
|
Gain on Exchange Rate |
668,485.00 |
412,727.07 |
616,887.99 |
|
Total Revenues |
447,650,529.98 |
466,406,175.01 |
381,963,998.54 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
324,800,779.59 |
335,755,931.98 |
277,929,681.80 |
|
Selling Expenses |
26,365,001.92 |
29,021,571.61 |
29,483,892.05 |
|
Administrative Expenses |
22,058,127.77 |
33,466,980.99 |
39,088,173.18 |
|
Total Expenses |
373,223,909.28 |
398,244,484.58 |
346,501,747.03 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
74,426,620.70 |
68,161,690.43 |
35,462,251.51 |
|
Financial Cost |
- |
- |
[266,310.40] |
|
Profit before Income
Tax |
74,426,620.70 |
68,161,690.43 |
35,195,941.11 |
|
Income Tax |
[15,002,868.54] |
[15,939,499.90] |
[11,408,712.37] |
|
|
|
|
|
|
Net Profit / [Loss] |
59,423,752.16 |
52,222,190.53 |
23,787,228.74 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.70 |
2.21 |
1.51 |
|
QUICK RATIO |
TIMES |
2.37 |
1.83 |
1.18 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
15.84 |
17.65 |
15.99 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.81 |
2.35 |
2.27 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
28.65 |
30.81 |
39.66 |
|
INVENTORY TURNOVER |
TIMES |
12.74 |
11.85 |
9.20 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
50.35 |
37.44 |
62.14 |
|
RECEIVABLES TURNOVER |
TIMES |
7.25 |
9.75 |
5.87 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
37.70 |
38.09 |
46.73 |
|
CASH CONVERSION CYCLE |
DAYS |
41.30 |
30.16 |
55.07 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
72.94 |
72.22 |
73.03 |
|
SELLING & ADMINISTRATION |
% |
10.87 |
13.44 |
18.02 |
|
INTEREST |
% |
- |
- |
0.07 |
|
GROSS PROFIT MARGIN |
% |
27.59 |
28.10 |
27.34 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
16.71 |
14.66 |
9.32 |
|
NET PROFIT MARGIN |
% |
13.34 |
11.23 |
6.25 |
|
RETURN ON EQUITY |
% |
36.23 |
43.53 |
31.92 |
|
RETURN ON ASSET |
% |
24.11 |
26.39 |
14.18 |
|
EARNING PER SHARE |
BAHT |
1,800.72 |
1,582.49 |
720.83 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.33 |
0.39 |
0.56 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.50 |
0.65 |
1.25 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
133.16 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(4.21) |
22.16 |
|
|
OPERATING PROFIT |
% |
9.19 |
92.21 |
|
|
NET PROFIT |
% |
13.79 |
119.54 |
|
|
FIXED ASSETS |
% |
6.74 |
10.71 |
|
|
TOTAL ASSETS |
% |
24.53 |
17.97 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is -4.21%.
Turnover has decreased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
27.59 |
Impressive |
Industrial
Average |
26.78 |
|
Net Profit Margin |
13.34 |
Impressive |
Industrial
Average |
3.45 |
|
Return on Assets |
24.11 |
Impressive |
Industrial
Average |
7.02 |
|
Return on Equity |
36.23 |
Impressive |
Industrial
Average |
10.50 |
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
27.59%. 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 13.34%,
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. Return on Assets ratio is
24.11%, 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.
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 36.23%, 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 :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
2.70 |
Impressive |
Industrial
Average |
2.08 |
|
Quick Ratio |
2.37 |
|
|
|
|
Cash Conversion Cycle |
41.30 |
|
|
|
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 2.7 times in 2014, increase from 2.21 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 2.37 times in 2014,
increase from 1.83 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 42 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
SATISFACTORY
LEVERAGE RATIO
|
Debt Ratio |
0.33 |
Acceptable |
Industrial
Average |
0.32 |
|
Debt to Equity Ratio |
0.50 |
Impressive |
Industrial
Average |
0.47 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.33 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
15.84 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.81 |
Satisfactory |
Industrial Average |
2.04 |
|
Inventory Conversion Period |
28.65 |
|
|
|
|
Inventory Turnover |
12.74 |
Satisfactory |
Industrial
Average |
13.14 |
|
Receivables Conversion Period |
50.35 |
|
|
|
|
Receivables Turnover |
7.25 |
Satisfactory |
Industrial Average |
8.78 |
|
Payables Conversion Period |
37.70 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.25 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 decreased from 31 days at the
end of 2013 to 29 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 11.85 times in year 2013 to 12.74
times in year 2014.
The company's Total Asset Turnover is calculated as 1.81 times and 2.35
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.62.20 |
|
|
1 |
Rs.96.00 |
|
Euro |
1 |
Rs.71.00 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.