MIRA INFORM REPORT
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Report No. : |
330163 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAAN ANYAMANEE CO., LTD. |
|
|
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Registered Office : |
22nd Floor, Bangkok Gem & Jewellery Tower, 322/60, Surawongse Road, Siphya, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
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|
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Date of Incorporation : |
11.02.1993 |
|
|
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Com. Reg. No.: |
0105536016287 |
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|
Legal Form : |
Private Limited Company |
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|
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|
Line of Business : |
Importer, Distributor & Re-Exporter of
Diamonds and Jewelry Products. |
|
|
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|
No. of Employees : |
5 |
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 |
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Payment Behaviour : |
No Complaints |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
A2 |
A2 |
|
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
BAAN ANYAMANEE
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 22nd FLOOR,
BANGKOK GEM & JEWELLERY TOWER,
322/60, SURAWONGSE
ROAD, SIPHYA,
BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 2237-5546
FAX : [66]
2237-5179
E-MAIL
ADDRESS : baananyamee@gmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1993
REGISTRATION
NO. : 0105536016287 [Former : 1336/2536]
TAX
ID NO. : 3011232231
CAPITAL REGISTERED : BHT. 12,000,000
CAPITAL PAID-UP : BHT.
12,000,000
SHAREHOLDER’S PROPORTION : THAI
: 51.00%
INDIAN :
49.00%
FISCAL
YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SANJAY NAWALKHA, INDIAN
MANAGING DIRECTOR & MARKETING MANAGER
NO.
OF STAFF : 5
LINES
OF BUSINESS : DIAMONDS AND
JEWELRY PRODUCTS
IMPORTER, DISTRIBUTOR
& RE-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
11, 1993 as
a private limited
company under the
registered name BAAN
ANYAMANEE CO., LTD.
by Indian and
Thai groups, in
order to be
engaged in diamond
and jewelry business.
It currently employs
5 staff.
The subject’s registered
address was initially
at Room 28C, 14th Floor,
Bangkok Gem & Jewellery Tower,
322/28 Surawongse Road, Siphya, Bangrak, Bangkok 10500.
On
May 26, 2008, the
registered address was
moved to 10th Floor,
Bangkok Gem &
Jewellery Tower, 322/12 D Surawongse Road,
Siphya, Bangrak, Bangkok 10500.
In
2011, the registered
address was relocated
to 22nd Floor,
Bangkok Gem &
Jewellery Tower, 322/60
Surawongse Road, Siphya,
Bangrak, Bangkok 10500, and
this is the
company’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sanjay Nawalkha |
|
Indian |
44 |
AUTHORIZED
PERSON
The above director
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sanjay Nawalkha is
the Managing Director
& Marketing Manager.
He is Indian
nationality with the
age of 44 years
old.
BUSINESS
OPERATIONS
The subject’s activities
are importer and
distributor various types
of cut diamonds
and gemstones, as
well as exporter
of diamonds and
jewelry products. The exported
products have been designed
and manufactured by
local manufacturing contractor.
IMPORT [COUNTRIES]
Most of the
products are imported
from India and
Bangladesh, and the
rest is purchased
locally.
SALES
50% of jewelry
products is sold
locally by wholesale
to dealers and
jewelry manufacturers.
EXPORT [COUNTRIES]
50% of jewelry
products is exported
to Hong Kong, Malaysia,
Japan, Singapore, Republic
of China, India
and Europe.
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 for 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 terms of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
L/C at sight or
T/T.
BUSINESS
TRANSACTION
The products are
sold by cash
and credit, with
the maximum credit
given at 30-60 days,
while exports are
against L/C at
sight or T/T.
The subject has no
problem on its
account receivable and
payable.
BANKING
Citibank N.A.
[Bangkok Branch
: 82 North
Sathorn Rd., Silom,
Bangrak, Bangkok 10500]
The Standard Chartered
Bank [Thai] Public
Co., Ltd.
[Bangkok Branch
: 90 Sathorn
Thani Building, North
Sathorn Rd., Silom,
Bangrak,
Bangkok 10500]
EMPLOYMENT
The subject employs 5 office and
sales staff.
LOCATION
DETAILS
The premise is
rented for administrative office at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
The subject provides
products which consumption in
overseas markets especially
in Asian and Middle East countries has
an ample room to grow. Optimistic
target is from solid demand of increasing consumer spending, high
purchasing power and economy
expansion.
Export of gems and jewelry
products has been
slowing down during
the past two
years due to
the constraints on
export expansion which
was slower than expected recovery
of the global economy.
FINANCIAL
INFORMATION
The capital was
initially registered at
Bht. 2,000,000 divided
into 20,000 shares
of Bht. 100
each.
The capital was
increased later as
follows:
Bht.
7,00,000 on December
9, 1999
Bht.
12,000,000 on December
24, 2002
The latest registered
capital was increased to Bht. 12,000,000 divided
into 120,000 shares of Bht. 100
each with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Boonchai Leryotchaipong Nationality : Thai Address : 379/38
Soi Charoennakorn 28, Banglampulang, Klongsan,
Bangkok |
61,200 |
51.00 |
|
Mr. Sanjay Nawalkha Nationality : Indian Address : 101/10 Charoenkrung 43
Rd., Surawong,
Bangrak, Bangkok |
29,400 |
24.50 |
|
Mrs. Monica Nawalkha Nationality : Indian Address : 101/10
Charoenkrung 43 Rd.,
Surawong,
Bangrak, Bangkok |
29,400 |
24.50 |
Total Shareholders : 3
Share
Structure
[as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
61,200 |
51.00 |
|
Foreign-Indian |
2 |
58,800 |
49.00 |
|
Total |
3 |
120,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Valit Panpoonsap
No. 4018
Note
The 2014 financial
statement has not
yet available during
investigation.
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December 31, 2013,
2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
51,974.98 |
1,208,538.00 |
354,539.37 |
|
Trade Accounts Receivable |
28,724,271.77 |
21,102,513.32 |
13,010,623.44 |
|
Other Receivable |
164,917.99 |
- |
214,720.86 |
|
Inventories |
35,476,614.54 |
36,832,319.90 |
33,310,664.89 |
|
Other Current Assets
|
- |
- |
124,207.51 |
|
|
|
|
|
|
Total Current Assets
|
64,417,779.28 |
59,143,371.22 |
47,014,756.07 |
|
Fixed Assets |
8,339,855.11 |
8,341,971.15 |
8,707,297.14 |
|
Other Non-current Assets |
25,600.00 |
1,000.00 |
1,000.00 |
|
Total Assets |
72,783,034.39 |
67,486,342.37 |
55,723,053.21 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial Institution |
30,464,497.30 |
31,180,147.16 |
23,587,739.00 |
|
Trade Accounts Payable |
17,118,729.48 |
13,514,176.68 |
9,733,242.29 |
|
Other Payable |
651,474.81 |
443,807.38 |
478,830.39 |
|
Current Portion of
Hire-purchase Contract Liabilities |
110,726.18 |
- |
- |
|
Accrued Income Tax |
114,822.90 |
105,830.22 |
12,762.26 |
|
Other Current Liabilities |
150,442.06 |
159,935.59 |
161,499.59 |
|
|
|
|
|
|
Total Current Liabilities |
48,610,692.73 |
45,403,897.03 |
33,974,073.53 |
|
Hire-purchase Contract Liabilities
- Net |
343,824.97 |
- |
- |
|
Loan from Related
Company |
5,254,035.03 |
4,627,097.53 |
4,667,097.53 |
|
Other Non-current Liabilities |
121,998.00 |
121,998.00 |
121,998.00 |
|
Total Liabilities |
54,330,550.73 |
50,152,992.56 |
38,763,169.06 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 120,000 shares |
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
|
|
|
|
|
Capital Paid |
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
Retained Earning -
Unappropriated |
6,452,483.66 |
5,333,349.81 |
4,959,884.15 |
|
Total Shareholders' Equity |
18,452,483.66 |
17,333,349.81 |
16,959,884.15 |
|
Total Liabilities &
Shareholders' Equity |
72,783,034.39 |
67,486,342.37 |
55,723,053.21 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
86,083,336.85 |
80,906,795.14 |
82,393,525.44 |
|
Rental Income |
770,520.00 |
770,520.00 |
770,520.00 |
|
Gain on Exchange
Rate |
- |
1,224,946.68 |
93,249.66 |
|
Other Income |
16,411.68 |
9,510.01 |
10,687.61 |
|
Total Revenues |
86,870,266.53 |
82,911,771.83 |
83,267,982.71 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
77,609,352.31 |
75,729,496.49 |
76,263,514.38 |
|
Selling Expenses |
575,633.54 |
667,872.93 |
610,300.77 |
|
Administrative Expenses |
5,974,207.42 |
4,646,169.99 |
4,454,196.19 |
|
Total Expenses |
84,159,193.27 |
81,043,539.41 |
81,328,011.34 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost & Income Tax |
2,711,075.26 |
1,868,232.42 |
1,939,971.37 |
|
Financial Cost |
[1,307,854.63] |
[1,231,600.05] |
[1,333,617.26] |
|
Income Tax |
[284,086.78] |
[263,166.71] |
[182,063.81] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,119,133.85 |
373,465.66 |
424,290.30 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.33 |
1.30 |
1.38 |
|
QUICK RATIO |
TIMES |
0.60 |
0.49 |
0.40 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
10.41 |
9.79 |
9.55 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.19 |
1.21 |
1.49 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
166.85 |
177.52 |
159.43 |
|
INVENTORY TURNOVER |
TIMES |
2.19 |
2.06 |
2.29 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
120.71 |
94.30 |
57.10 |
|
RECEIVABLES TURNOVER |
TIMES |
3.02 |
3.87 |
6.39 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
80.51 |
65.14 |
46.58 |
|
CASH CONVERSION CYCLE |
DAYS |
207.05 |
206.69 |
169.94 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.36 |
92.72 |
91.70 |
|
SELLING & ADMINISTRATION |
% |
7.54 |
6.51 |
6.09 |
|
INTEREST |
% |
1.51 |
1.51 |
1.60 |
|
GROSS PROFIT MARGIN |
% |
10.66 |
8.79 |
8.42 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.12 |
2.29 |
2.33 |
|
NET PROFIT MARGIN |
% |
1.29 |
0.46 |
0.51 |
|
RETURN ON EQUITY |
% |
6.06 |
2.15 |
2.50 |
|
RETURN ON ASSET |
% |
1.54 |
0.55 |
0.76 |
|
EARNING PER SHARE |
BAHT |
9.33 |
3.11 |
3.54 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.75 |
0.74 |
0.70 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.94 |
2.89 |
2.29 |
|
TIME INTEREST EARNED |
TIMES |
2.07 |
1.52 |
1.45 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.34 |
(1.79) |
|
|
OPERATING PROFIT |
% |
45.11 |
(3.70) |
|
|
NET PROFIT |
% |
199.66 |
(11.98) |
|
|
FIXED ASSETS |
% |
(0.03) |
(4.20) |
|
|
TOTAL ASSETS |
% |
7.85 |
21.11 |
|
ANNUAL
GROWTH: IMPRESSIVE
An annual sales growth is 6.34%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.66 |
Impressive |
Industrial
Average |
2.28 |
|
Net Profit Margin |
1.29 |
Impressive |
Industrial
Average |
0.08 |
|
Return on Assets |
1.54 |
Satisfactory |
Industrial
Average |
2.04 |
|
Return on Equity |
6.06 |
Satisfactory |
Industrial
Average |
6.86 |
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 10.66%. 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 1.29%, 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 1.54%.
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 6.06%.
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 |
1.33 |
Satisfactory |
Industrial
Average |
1.56 |
|
Quick Ratio |
0.60 |
|
|
|
|
Cash Conversion Cycle |
207.05 |
|
|
|
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 1.33 times in 2013, increased from 1.3 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 0.6 times in 2013,
increased from 0.49 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 208 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.75 |
Acceptable |
Industrial
Average |
0.66 |
|
Debt to Equity Ratio |
2.94 |
Risky |
Industrial
Average |
1.95 |
|
Times Interest Earned |
2.07 |
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 2.08 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 0.75 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 |
10.41 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.19 |
Deteriorated |
Industrial
Average |
24.82 |
|
Inventory Conversion Period |
166.85 |
|
|
|
|
Inventory Turnover |
2.19 |
Deteriorated |
Industrial
Average |
53.91 |
|
Receivables Conversion Period |
120.71 |
|
|
|
|
Receivables Turnover |
3.02 |
Deteriorated |
Industrial
Average |
47.59 |
|
Payables Conversion Period |
80.51 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.02 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 178 days at the
end of 2012 to 167 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 2.06 times in year 2012 to 2.19 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.19 times and 1.21
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.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
NIT |
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.