MIRA INFORM REPORT
|
Report No. : |
309068 |
|
Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
CCI AUTOMOTIVE PRODUCTS CO., LTD. |
|
|
|
|
Registered Office : |
Eastern Seaboard Industrial
Estate, 25 Moo 4, T. Pluakdaeng, A. Pluakdaeng, Rayong 21140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
15.01.1993 |
|
|
|
|
Com. Reg. No.: |
0105536004815 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
subject is engaged
in manufacturing, distributing and
exporting various kinds
of automotive fluid
products mainly brake fluid, brake
oil, window washer and
engine coolant |
|
|
|
|
No. of Employee : |
200 |
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 : |
No complaints |
|
|
|
|
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 |
|
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
CCI AUTOMOTIVE PRODUCTS CO., LTD.
SUMMARY
BUSINESS
ADDRESS : EASTERN SEABOARD
INDUSTRIAL ESTATE,
25
MOO 4, T. PLUAKDAENG, A. PLUAKDAENG,
RAYONG
21140, THAILAND
TELEPHONE : [66] 38
954-730-2
FAX :
[66] 38
954-733
E-MAIL
ADDRESS : cciauto@loxinfo.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1993
REGISTRATION
NO. : 0105536004815
TAX
ID NO. : 3011219096
CAPITAL REGISTERED : BHT. 104,000,000
CAPITAL PAID-UP : BHT. 32,000,000
SHAREHOLDER’S PROPORTION : FOREIGN
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KIYOSHI KAJIURA,
JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 200
LINES
OF BUSINESS : AUTOMOTIVE FLUID
PRODUCTS
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 15, 1993 as a
private limited company under
the registered name CCI
AUTOMOTIVE PRODUCTS CO., LTD., by
Japanese groups, with
the business objective
to manufacture various
kinds of automotive fluid products
to both domestic
and overseas markets.
It currently employs
approximately 200 staff.
The subject
is a subsidiary of CCI
Corporation, Japan with holding at
99.97% of the
subject’s total shares.
The
subject’s registered address
is Eastern Seaboard
Industrial Estate, 25 Moo 4,
T. Pluakdaeng, A. Pluakdaeng, Rayong
21140, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Hiroshi Kondo |
|
Japanese |
65 |
|
Mr. Tetsuya Okabe |
[x] |
Japanese |
48 |
|
Mr. Kiyoshi Kajiura |
[x] |
Japanese |
56 |
AUTHORIZED
PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Kiyoshi Kajiura is
the Managing Director.
He is Japanese
nationality with the
age of 56
years old.
Mr. Samrit Satornrat is
the Factory Manager.
He is Thai
nationality.
Mr. Jirawut Chaipin is
the Sales Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of automotive fluid products mainly brake fluid, brake
oil, window washer and
engine coolant under
its own brands “SMART
MIST”, “GOLDEN CRUISER”
and “BEPPINSHAN”, as
well as contract
manufacturing of the
products under customer’s
own brands.
PURCHASE
Raw materials, chemical
and components are
purchased from suppliers
both domestic and
overseas, mainly in
Japan, Republic of
China, India and
Germany.
MAJOR
SUPPLIER
CCI
Corporation :
Japan
SALES
The products are
sold by wholesale
to traders and
end-users both local
and overseas, mainly
in Japan, Korea,
Malaysia, Indonesia, Singapore,
Vietnam, U.S.A., and
European countries.
MAJOR
CUSTOMERS
Toyota Motors Group
Mitsubishi Motors Group
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
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
United
Overseas Bank [Thai]
Public Company Limited
EMPLOYMENT
The
subject employs approximately
200 office staff
and factory workers,
comprising 60 component
staff and 140
temporary workers.
LOCATION
DETAILS
The
premise is owned for
administrative office, factory
and warehouse at the heading
address. Premise is
located in industrial
area.
Branch
office is located
at 88 Soi Lasalle
58, Srinakarin Road, Bangna,
Bangkok 10260. Tel :
[66] 2745-8873 Fax
: [66] 2745-8874.
COMMENT
The
subject operates as
a manufacturer and distributor of automotive
fluid products. Its
product lines are comprehensive,
ranging from brake fluid, brake oil, engine
coolant and etc. Not only passenger cars but
also pick-up trucks, large
commercial buses and trucks are relied on its products.
Subject reported an outstanding sales in 2013.
In
2014 Thailand has
been adversely affected
by ongoing political
turmoil and at the
same time its
economy also experienced
some downturns growth,
which is reflected in lower
annual growth targets
forecasted by public
and private sector.
FINANCIAL
INFORMATION
The
capital was registered at Bht. 6,000,000
divided into 6,000 shares
of Bht. 1,000
each with fully
paid.
The
capital was increased
later as follows:
Bht. 8,000,000 on June 3, 1998
Bht. 104,000,000 on May 27, 2005
The latest
registered capital was increased
to Bht. 104,000,000 divided
into 104,000 shares of
Bht. 1,000 each, with
the current capital
paid-up at Bht. 32,000,000 or
96,000 shares of
Bht. 250 each
and 8,000 shares
of Bht. 1,000
each.
THE
SHAREHOLDERS LISTED WERE
as
at April 23,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
CCI Corporation Nationality: Japanese Address : 12
Shinhasama, Seki, Gifu, Japan |
103,973 |
99.97 |
|
Mr. Suji Okabe Nationality: Japanese Address : 3-50 Zohara Shuo-sho, Kakamigahara City, Gifu, Japan
|
22 |
0.02 |
|
CCI Corporation UK
Limited Nationality: British Address : England |
1 |
|
|
CCI Manufacturing IL
Corporation Nationality: American Address : Illinois,
U.S.A. |
1 |
|
|
CCI U.S.A. Corporation Nationality: American Address : 1209
Orange Street, Wilmington,
Delaware, U.S.A. |
1 |
= 0.01 |
|
CCI North America
Corporation Nationality: American Address : 1209
Orange Street, Wilmington,
Delaware, U.S.A. |
1 |
|
|
CCI TW Corporation
Nationality: Taiwanese Address : Taiwan |
1 |
|
Total Shareholders : 7
Share Structure [as
at April 23,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
7 |
104,000 |
100.00 |
|
Total |
7 |
104,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mrs. Suwannee Puripanyo No.
3371
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 |
284,923,908 |
354,959,501 |
384,692,797.52 |
|
Short-term Investment |
630,000,000 |
578,952,364 |
505,118,871.45 |
|
Trade Accounts & Other Receivable |
189,648,115 |
165,991,783 |
112,811,466.82 |
|
Related Company Receivable |
- |
- |
4,473,078.93 |
|
Inventories |
174,225,914 |
146,586,560 |
74,636,671.76 |
|
Value Added Tax Receivable |
- |
- |
11,324,816.92 |
|
Other Current Assets
|
42,409,475 |
26,988,155 |
2,823,837.91 |
|
|
|
|
|
|
Total Current Assets
|
1,321,207,112 |
1,273,478,363 |
1,095,881,541.31 |
|
Cash at Bank pledged as a Collateral |
262,000 |
262,000 |
136,000.00 |
|
Fixed Assets |
184,695,077 |
62,546,912 |
20,937,229.74 |
|
Computer Programme |
230,559 |
9,436 |
- |
|
Deposit |
160,230 |
157,230 |
275,730.00 |
|
Total Assets |
1,506,554,978 |
1,336,453,941 |
1,117,230,501.05 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Accounts & Other Payable |
177,905,447 |
179,322,120 |
56,058,516.31 |
|
Related Company Payable |
- |
- |
94,531,803.02 |
|
Accrued Income Tax |
23,619,738 |
35,327,886 |
22,963,059.48 |
|
Other Current Liabilities |
670,498 |
1,000,349 |
1,611,656.59 |
|
|
|
|
|
|
Total Current Liabilities |
202,195,683 |
215,650,355 |
175,165,035.40 |
|
Total Liabilities |
202,195,683 |
215,650,355 |
175,165,035.40 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value Authorized &
issued share capital
104,000 shares |
104,000,000 |
104,000,000 |
104,000,000.00 |
|
|
|
|
|
|
Capital Paid |
32,000,000 |
32,000,000 |
32,000,000.00 |
|
Retained Earnings: Appropriated for statutory reserve |
800,000 |
800,000 |
800,000.00 |
|
Unappropriated |
1,271,559,295 |
1,088,003,586 |
909,265,465.65 |
|
Total Shareholders' Equity |
1,304,359,295 |
1,120,803,586 |
942,065,465.65 |
|
Total Liabilities & Shareholders' Equity |
1,506,554,978 |
1,336,453,941 |
1,117,230,501.05 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
1,352,524,463 |
1,317,718,991.53 |
990,534,380.79 |
|
Interest Income |
20,288,381 |
16,553,587.32 |
12,859,867.32 |
|
Gain on Exchange Rate |
14,206,598 |
14,996,886.33 |
9,092,071.42 |
|
Other Income |
2,875,452 |
1,654,407.64 |
2,198,714.93 |
|
Total Revenues |
1,389,894,894 |
1,350,923,872.82 |
1,014,685,034.46 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,043,121,519 |
1,004,027,463.16 |
780,035,064.97 |
|
Selling Expenses |
68,835,331 |
70,193,003.11 |
47,233,376.99 |
|
Administrative Expenses |
47,324,714 |
44,395,528.51 |
30,490,027.29 |
|
Total Expenses |
1,159,281,564 |
1,118,615,994.78 |
857,758,469.25 |
|
Profit before Income
Tax |
230,613,330 |
232,307,878.04 |
156,926,565.21 |
|
Income Tax |
[47,057,621] |
[53,569,758.40] |
[47,226,221.93] |
|
|
|
|
|
|
Net Profit / [Loss] |
183,555,709 |
178,738,119.64 |
109,700,343.28 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
6.53 |
5.91 |
6.26 |
|
QUICK RATIO |
TIMES |
5.46 |
5.10 |
5.75 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
7.32 |
21.07 |
47.31 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.90 |
0.99 |
0.89 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
60.96 |
53.29 |
34.92 |
|
INVENTORY TURNOVER |
TIMES |
5.99 |
6.85 |
10.45 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
51.18 |
45.98 |
41.57 |
|
RECEIVABLES TURNOVER |
TIMES |
7.13 |
7.94 |
8.78 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
62.25 |
65.19 |
26.23 |
|
CASH CONVERSION CYCLE |
DAYS |
49.89 |
34.08 |
50.26 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
77.12 |
76.19 |
78.75 |
|
SELLING & ADMINISTRATION |
% |
8.59 |
8.70 |
7.85 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
25.64 |
26.33 |
23.69 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
17.05 |
17.63 |
15.84 |
|
NET PROFIT MARGIN |
% |
13.57 |
13.56 |
11.07 |
|
RETURN ON EQUITY |
% |
14.07 |
15.95 |
11.64 |
|
RETURN ON ASSET |
% |
12.18 |
13.37 |
9.82 |
|
EARNING PER SHARE |
BAHT |
5,736.12 |
5,585.57 |
3,428.14 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.13 |
0.16 |
0.16 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.16 |
0.19 |
0.19 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
2.64 |
33.03 |
|
|
OPERATING PROFIT |
% |
(0.73) |
48.04 |
|
|
NET PROFIT |
% |
2.70 |
62.93 |
|
|
FIXED ASSETS |
% |
195.29 |
198.74 |
|
|
TOTAL ASSETS |
% |
12.73 |
19.62 |
|
ANNUALGROWTH
: IMPRESSIVE
An annual sales growth is 2.64%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
25.64 |
Impressive |
Industrial
Average |
2.26 |
|
Net Profit Margin |
13.57 |
Impressive |
Industrial
Average |
1.12 |
|
Return on Assets |
12.18 |
Impressive |
Industrial
Average |
7.66 |
|
Return on Equity |
14.07 |
Deteriorated |
Industrial
Average |
36.01 |
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 25.64%. 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. The company’s figure is 13.57%, 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
12.18%, 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. When compared with the
industry average, it was lower, the company's figure is 14.07%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
6.53 |
Impressive |
Industrial
Average |
0.77 |
|
Quick Ratio |
5.46 |
|
|
|
|
Cash Conversion Cycle |
49.89 |
|
|
|
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 6.53 times in 2013, increased from 5.91 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 5.46 times in 2013,
increased from 5.1 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 50 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.13 |
Impressive |
Industrial
Average |
0.78 |
|
Debt to Equity Ratio |
0.16 |
Impressive |
Industrial
Average |
3.43 |
|
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 0.13 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
7.32 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.90 |
Deteriorated |
Industrial Average |
6.86 |
|
Inventory Conversion Period |
60.96 |
|
|
|
|
Inventory Turnover |
5.99 |
Deteriorated |
Industrial
Average |
45.69 |
|
Receivables Conversion Period |
51.18 |
|
|
|
|
Receivables Turnover |
7.13 |
Acceptable |
Industrial
Average |
10.41 |
|
Payables Conversion Period |
62.25 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.13 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 53 days at the
end of 2012 to 61 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 6.85 times in year 2012 to 5.99 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.9 times and 0.99
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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.27 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.76 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.