MIRA
INFORM REPORT
|
Report No. : |
329353 |
|
Report Date : |
02.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
VORAPORN GARMENT CO., LTD. |
|
|
|
|
Registered Office : |
45 Soi Charoennakorn 13,
Klongtonsai, Klongsan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
24.07.1985 |
|
|
|
|
Com. Reg. No.: |
0105528025892 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in contract
manufacturing of garment, mainly
children wear, T-shirts,
infant wear and
sweatshirts according to
customer’s requirement. |
|
|
|
|
No. of Employees : |
480 |
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 but correct |
|
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, generally pro-investment policies, and strong export industries,
Thailand has historically had a strong economy due in part to 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 4
million migrant workers from neighboring countries, and faces labor shortages.
Following the May 2014 coup d’tat, 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
VORAPORN GARMENT CO.,
LTD.
SUMMARY
BUSINESS ADDRESS : 45 SOI CHAROENNAKORN
13, KLONGTONSAI,
KLONGSAN, BANGKOK
10600, THAILAND
TELEPHONE : [66] 2439-0070,
2437-0884, 2439-1119
FAX : [66] 2439-0239
E-MAIL ADDRESS : vorapornbkk@gmail.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1985
REGISTRATION NO. : 0105528025892
TAX ID NO. : 3101351484
CAPITAL REGISTERED : BHT.
76,050,000
CAPITAL PAID-UP : BHT.
76,050,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MRS. NUANCHAN THAMRONGVORAPORN, THAI
MANAGING DIRECTOR
NO. OF STAFF : 480
LINES OF BUSINESS : GARMENT
CONTRACT MANUFACTURER
|
|
|
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 24,
1985 as a
private limited company
under the registered
name VORAPORN GARMENT CO.,
LTD., by Thai group, with the
business objective to
provide manufacturing service
for garment to
both domestic and international markets.
It currently employs
approximately 480 staff.
The subject’s registered
address is 45 Soi
Charoennakorn 13, Klongtonsai,
Klongsan,
Bangkok 10600, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
Mrs. Nuanchan Thamrongvoraporn |
|
Thai |
68 |
|
Mr. Anek Thamrongvoraporn |
|
Thai |
43 |
|
Ms. Amata Thamrongvoraporn |
|
Thai |
37 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mrs. Nuanchan
Thamrongvoraporn is the
Managing Director.
She is Thai nationality with
the age of 68
years old.
Mr. Anek Thamrongvoraporn is
the Factory Manager.
He is Thai
nationality with the
age of 43 years
old.
Ms. Chutikarn Lee is
the Marketing and Exports
Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is engaged in
contract manufacturing of garment,
mainly children wear,
T-shirts, infant wear
and sweatshirts according
to customer’s requirement.
PURCHASE
Raw materials are
purchased from suppliers
both domestic and
overseas in Republic
of China, Taiwan,
Hong Kong, Singapore and Japan.
Some of raw
material has been provided
by customers.
MAJOR SUPPLIERS
Voraporn Spinning Co.,
Ltd.
Numsin Knitting Co., Ltd.
Numsin Dyeing Co.,
Ltd.
NVK Spinning Co.,
Ltd.
EXPORT
90% of the
products is exported
mainly in U.S.A.,
Japan and the
countries in Europe.
SERVICES [LOCAL]
10% of the
products is served
locally to traders.
SUBSIDIARY AND
AFFILIATED COMPANIES
Numsin Knitting Co.,
Ltd.
Business Type :
Manufacturer of knitted
fabric
Numsin Dyeing Co.,
Ltd.
Business Type :
Fabric dyed service
Voraporn Spinning Co.,
Ltd.
Business Type :
Fabric spinning service
Voraporn Garment [2000]
Co., Ltd.
Business Type :
Manufacturer of garment
NVK Spinning Co.,
Ltd.
Business Type :
Fabric spinning service
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
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
approximately 480 staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Factories and Warehouses :
17, 19,25, 27, 29, 31, 33, 35, 37, 39, 41 Soi Charoennakorn
13, Klongtonsai,
Klongsan, Bangkok 10600.
46 Chanthep Road,
T. Nangrong, A. Nangrong, Buriram
31110.
208 Moo 6,
Chokechai-Dej-udom Road, T. Nongboth,
A. Nangrong,
Burirum 31110.
130 Moo 13, Nangrong-Lamplaimas Road,
T. Kokklang, A. Lamplaimas,
Burirum 31130.
353 Moo 2,
Nakornsawan-Chaiyapoom Road, T.
Subsamorthod, A. Bungsamphan, Petchabun
67160.
COMMENT
The subject is
specialized in manufacturing service
of variety garments
for men, women,
children and infant.
With its accumulated experience for
30 years, the
subject has gained
creditability and comprehensive
network with its
customers.
However, 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. 10,000,000 divided
into 10,000 shares of Bht. 100 each
with fully paid.
The capital was increased and
decreased later as
follows:
Bht. 20,000,000
on September 27,
1988
Bht. 50,000,000
on September 16,
1999
Bht. 105,000,000
on December 26,
2005
Bht. 89,250,000
on December 28,
2006 [decreased]
Bht. 110,500,000
on December 28,
2007
Bht. 76,050,000
on December 26,
2012 [decreased]
The latest registered capital
was decreased to Bht. 76,050,000 divided
into 130,000 shares
of Bht. 585 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE :
[as at April
30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Nuanchan Thamrongvoraporn Nationality: Thai Address : 45
Soi Charoennakorn 13,
Klongtonsai,
Klongsan, Bangkok |
25,510 |
19.62 |
|
Mr. Anek Thamrongvoraporn Nationality: Thai Address : 45
Soi Charoennakorn 13,
Klongtonsai,
Klongsan, Bangkok |
22,423 |
17.25 |
|
Ms. Amata Thamrongvoraporn Nationality: Thai Address : 45
Soi Charoennakorn 13, Klongtonsai,
Klongsan, Bangkok |
22,423 |
17.25 |
|
Mr. Namphon Thamrongvoraporn Nationality: Thai Address : 45
Soi Charoennakorn 13,
Klongtonsai,
Klongsan, Bangkok |
22,422 |
17.25 |
|
Mr. Thanawat Thamrongvoraporn Nationality: Thai Address : 45
Soi Charoennakorn 13,
Klongtonsai,
Klongsan, Bangkok |
22,422 |
17.25 |
|
Mr. Ronachai Thamrongvoraporn Nationality: Thai Address : 45
Soi Charoennakorn 13, Klongtonsai,
Klongsan, Bangkok |
14,700 |
11.31 |
|
|
|
|
|
Mr. Veerapoj Tiangpattanawong Nationality: Thai Address : 42
Soi Charoennakorn 30/1,
Banglampulang, Klongsan, Bangkok |
100 |
0.07 |
Total Shareholders : 7
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
130,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
130,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Somchai Klinkajorn No. 1527
Note
The 2014 financial statement
has not yet
available during investigation.
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 |
780,565.33 |
868,330.10 |
838,577.05 |
|
Trade Accounts &
Notes Receivable |
58,650,539.42 |
20,477,920.79 |
26,641,761.44 |
|
Inventories |
21,952,584.50 |
97,279,430.61 |
98,579,359.79 |
|
Other Current Assets
|
14,157,340.41 |
3,531,536.44 |
16,978,962.16 |
|
|
|
|
|
|
Total Current Assets
|
95,541,029.66 |
122,157,217.94 |
143,038,660.44 |
|
|
|
|
|
|
Fixed Assets |
15,784,016.67 |
17,273,063.49 |
15,832,964.61 |
|
Other Non-current Assets |
308,236.83 |
308,236.83 |
308,236.83 |
|
Total Assets |
111,633,283.16 |
139,738,518.26 |
159,179,861.88 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
6,724,332.54 |
8,777,260.92 |
8,356,104.92 |
|
Trade Accounts & Notes
Payable |
35,665,568.42 |
48,530,483.61 |
59,723,821.67 |
|
Hire-purchase Payable |
1,743,994.46 |
2,709,207.59 |
- |
|
Other Current Liabilities |
7,201,329.19 |
20,310,264.42 |
15,960,213.50 |
|
|
|
|
|
|
Total Current Liabilities |
51,335,224.61 |
80,327,216.54 |
84,040,140.09 |
|
Total Liabilities |
51,335,224.61 |
80,327,216.54 |
84,040,140.09 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 585.00 par
value authorized, issued & fully
paid share capital 130,000 shares in 2013 & 2012; Bht. 110,500,000
in 2011 |
76,050,000.00 |
76,050,000.00 |
110,500,000.00 |
|
|
|
|
|
|
Capital Paid |
76,050,000.00 |
76,050,000.00 |
110,500,000.00 |
|
Retained Earning - Unappropriated [Deficit] |
[15,751,941.45] |
[16,638,698.28] |
[35,360,278.21] |
|
Total Shareholders' Equity |
60,298,058.55 |
59,411,301.72 |
75,139,721.79 |
|
Total Liabilities &
Shareholders' Equity |
111,633,283.16 |
139,738,518.26 |
159,179,861.88 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
296,641,076.53 |
186,001,399.27 |
250,859,452.55 |
|
Other Income |
6,138,211.39 |
9,983,205.19 |
8,632,548.88 |
|
Total Revenues |
302,779,287.92 |
195,984,604.46 |
259,492,001.43 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
274,801,393.31 |
185,569,064.16 |
230,546,687.37 |
|
Selling Expenses |
11,581,658.95 |
7,157,006.27 |
7,465,913.18 |
|
Administrative Expenses |
14,059,757.60 |
18,317,489.18 |
18,883,789.52 |
|
' Total Expenses |
300,442,809.86 |
211,043,559.61 |
256,896,390.07 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost |
2,336,478.06 |
[15,058,955.15] |
2,595,611.36 |
|
Financial Cost |
[1,449,721.23] |
[669,464.92] |
[1,979,691.86] |
|
|
|
|
|
|
Net Profit / [Loss] |
886,756.83 |
[15,728,420.07] |
615,919.50 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.86 |
1.52 |
1.70 |
|
QUICK RATIO |
TIMES |
1.16 |
0.27 |
0.33 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
18.79 |
10.77 |
15.84 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.66 |
1.33 |
1.58 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
29.16 |
191.34 |
156.07 |
|
INVENTORY TURNOVER |
TIMES |
12.52 |
1.91 |
2.34 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
72.17 |
40.18 |
38.76 |
|
RECEIVABLES TURNOVER |
TIMES |
5.06 |
9.08 |
9.42 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
47.37 |
95.46 |
94.55 |
|
CASH CONVERSION CYCLE |
DAYS |
53.95 |
136.07 |
100.28 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.64 |
99.77 |
91.90 |
|
SELLING & ADMINISTRATION |
% |
8.64 |
13.70 |
10.50 |
|
INTEREST |
% |
0.49 |
0.36 |
0.79 |
|
GROSS PROFIT MARGIN |
% |
9.43 |
5.60 |
11.54 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
0.79 |
(8.10) |
1.03 |
|
NET PROFIT MARGIN |
% |
0.30 |
(8.46) |
0.25 |
|
RETURN ON EQUITY |
% |
1.47 |
(26.47) |
0.82 |
|
RETURN ON ASSET |
% |
0.79 |
(11.26) |
0.39 |
|
EARNING PER SHARE |
BAHT |
6.82 |
(120.99) |
0.56 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.46 |
0.57 |
0.53 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.85 |
1.35 |
1.12 |
|
TIME INTEREST EARNED |
TIMES |
1.61 |
(22.49) |
1.31 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
59.48 |
(25.85) |
|
|
OPERATING PROFIT |
% |
(115.52) |
(680.17) |
|
|
NET PROFIT |
% |
105.64 |
(2,653.65) |
|
|
FIXED ASSETS |
% |
(8.62) |
9.10 |
|
|
TOTAL ASSETS |
% |
(20.11) |
(12.21) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is 59.48%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
9.43 |
Deteriorated |
Industrial Average |
36.26 |
|
Net Profit Margin |
0.30 |
Deteriorated |
Industrial Average |
3.21 |
|
Return on Assets |
0.79 |
Deteriorated |
Industrial Average |
4.64 |
|
Return on Equity |
1.47 |
Deteriorated |
Industrial Average |
12.77 |
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 9.43%. 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 0.3%. 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 0.79%.
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 1.47%.
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 |
1.86 |
Impressive |
Industrial Average |
1.39 |
|
Quick Ratio |
1.16 |
|
|
|
|
Cash Conversion Cycle |
53.95 |
|
|
|
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 1.86 times in 2013, increased from 1.52 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 1.16 times in 2013,
increased from 0.27 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 54 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.46 |
Impressive |
Industrial Average |
0.63 |
|
Debt to Equity Ratio |
0.85 |
Impressive |
Industrial Average |
1.67 |
|
Times Interest Earned |
1.61 |
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 lower the percentage means that the company is
using less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 1.62 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 0.46 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
18.79 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.66 |
Impressive |
Industrial Average |
1.45 |
|
Inventory Conversion Period |
29.16 |
|
|
|
|
Inventory Turnover |
12.52 |
Impressive |
Industrial Average |
2.90 |
|
Receivables Conversion Period |
72.17 |
|
|
|
|
Receivables Turnover |
5.06 |
Impressive |
Industrial Average |
3.46 |
|
Payables Conversion Period |
47.37 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.06 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 191 days at the
end of 2012 to 29 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 1.91 times in year 2012 to 12.52
times in year 2013.
The company's Total Asset Turnover is calculated as 2.66 times and 1.33
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.62 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.70.77 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
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.