MIRA INFORM REPORT
|
Report No. : |
330263 |
|
Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
LOHATHAI STAINLESS CO., LTD. |
|
|
|
|
Registered Office : |
1570/3 Pracharat
1 Road, Bangsue, Bangkok 10800 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
28.02.2014 |
|
|
|
|
Date of Incorporation : |
12.05.1995 |
|
|
|
|
Com. Reg. No.: |
0105538057509 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Distributor and Exporter of Stainless
Steel Scrap |
|
|
|
|
No. of Employees : |
120 |
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 – 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
LOHATHAI STAINLESS
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 1570/3 PRACHARAT
1 ROAD, BANGSUE,
BANGKOK 10800,
THAILAND
TELEPHONE : [66] 2913-2197-9,
2585-2650, 2585-9811,
087 494-7515,
087 340-9230
FAX :
[66] 2587-5420
E-MAIL ADDRESS : sales@lts.co.th
thanawat@lts.co.th
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1995
REGISTRATION NO. : 0105538057509 [Former :
[1] 1272/2538]
TAX ID NO. : 3011574478
CAPITAL REGISTERED
: BHT.
200,000,000
CAPITAL PAID-UP
: BHT.
200,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR
CLOSING DATE : FEBRUARY 28
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
DAMRONG KENGRUNGRUENGCHAI, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 120
LINES OF
BUSINESS : STAINLESS STEEL
SCRAP
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 May 12,
1995 as a
private limited company
under the registered
name “LOHATHAI STAINLESS
CO., LTD.” by
Thai groups, with
the initial business
objective as a
manufacturer, importer and
distributor of stainless
steel products to
local market. At
present, its business
becomes a distributor
and exporter of
metal scrap. It currently employs
approximately 120 staff.
The subject’s registered address
is 1570/3 Pracharat 1 Rd., Bangsue,
Bangkok 10800, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr.
Damrong Kengrungruengchai |
|
Thai |
64 |
|
Mr.
Boriboon Kengrungruengchai |
|
Thai |
37 |
|
Ms.
Suwanna Kengrungruengchai |
|
Thai |
35 |
AUTHORIZED
PERSON
Anyone
of the above
directors can sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Damrong
Kengrungruengchai is the
Managing Director.
He
is Thai nationality
with the age
of 64 years old.
Mr. Boriboon Kengrungruengchai is
the Deputy Managing
Director.
He
is Thai nationality
with the age
of 37 years old.
Mr. Thanawat
Panpairoj is the
Sales & Marketing
Manager.
He
is Thai nationality.
Ms. Suwanna Kengrungruengchai is
the General Manager.
She
is Thai nationality
with the age
of 35 years old.
BUSINESS
OPERATIONS
The
subject is engaged
in distributing and
exporting wide range
of stainless steel
scraps, nickel scraps
and other metal
scraps. The products include
stainless steel turning
# 304, stainless scrap # 430,
heavy cutting stainless
steel # 304 and stainless
scrap # 304.
PRODUCTION CAPACITY
Approximately 30,000
tons per annum
PURCHASE
100%
of the products
is purchased from
local general industries
and suppliers.
EXPORT [COUNTRIES]
60%
of the products
is exported to
Japan, India, Korea,
Taiwan, Republic of
China, Malaysia, Hong Kong,
Indonesia and United
States of America.
SALES [LOCAL]
40%
of the products
is sold locally
by wholesale to
manufacturers and wholesalers.
MAJOR CUSTOMER
Cronimet
Corporation : United
Sates of America
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 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.
Exports
are against T/T.
BANKING
Bangkok Bank
Public Co., Ltd.
[Nonthaburi Branch :
Nonthaburi Province]
EMPLOYMENT
The subject
currently employs approximately
120 staff.
LOCATION
DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is located
in commercial/residential area.
Branches [warehouse]
- 47/1 Moo 7,
T. Suanyai, A.
Muang, Nonthaburi 11000.
- 38/3 Moo
6, Nakornin Rd.,
T. Bangkhunkong, A.
Bangkruay, Nonthaburi 11130.
Tel.:
[66] 2459-5449-53, Fax:
[66] 2459-5056
COMMENT
The subject
is one of
the leaders in
stainless steel crap
business. Despite,
industrial downturn, subject’s
operating performance was excellent in
the previous year.
However, sales in
2015 has seen
flat growth due
to unfavorable conditions of
some industries with
the economy remaining
on its downward
trend.
FINANCIAL
INFORMATION
The capital
was registered at
Bht. 1,000,000 divided
into 100 shares
of Bht. 10,000
each.
The capital
was increased later
as following:
Bht. 10,000,000
on August 22,
2000
Bht. 30,000,000
on July 22,
2003
Bht. 50,000,000
on August 23,
2004
Bht. 200,000,000
on February 22,
2007
The latest
registered capital was
increased to Bht. 200,000,000 divided
into 20,000 shares
of Bht. 10,000
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as at June
30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
Mr. Damrong
Kengrungruengchai
Nationality: Thai Address
: 38/3 Moo 6,
T. Bangkhunkong, A. Bangkruay,
Nonthaburi |
10,000 |
50.00 |
Mrs. Sumalee
Kengrungruengchai
Nationality: Thai Address
: 38/3 Moo 6,
T. Bangkhunkong, A. Bangkruay,
Nonthaburi |
4,000 |
20.00 |
Ms. Suwanna
Kengrungruengchai
Nationality: Thai Address
: 38/3 Moo 6,
T. Bangkhunkong, A.
Bangkruay, Nonthaburi |
3,000 |
15.00 |
Mr. Boriboon
Kengrungruengchai
Nationality: Thai Address
: 38/3 Moo 6,
T. Bangkhunkong, A. Bangkruay,
Nonthaburi |
3,000 |
15.00 |
Total Shareholders
: 4
Share
Structure
[as
at June 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
20,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
4 |
20,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Natthapol Areeprasertsuk No.
3988
BALANCE
SHEET [BAHT]
The latest
financial figures published
for February 28,
2014 & 2013, February 29,
2012 were:
ASSETS
|
Current Assets |
Feb. 28,
2014 |
Feb. 28,
2013 |
Feb. 29,
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
44,573,187.61 |
40,980,811.76 |
10,179,458.27 |
|
Trade
Accounts & Other
Receivable |
422,435,051.75 |
367,386,943.94 |
322,684,326.68 |
|
Short-term Lending to Person or
Related Company |
158,600,000.00 |
173,600,000.00 |
45,300,000.00 |
|
Inventories |
423,076,394.92 |
388,160,116.56 |
354,098,350.95 |
|
Receivable-Revenue Department |
72,602,243.78 |
53,690,575.84 |
16,017,860.94 |
|
Other
Current Assets |
22,094,451.67 |
48,522,127.02 |
17,880,758.36 |
|
Total Current
Assets |
1,143,381,329.73 |
1,072,340,575.12 |
766,160,755.20 |
|
|
|
|
|
|
Fixed Assets |
157,107,388.47 |
71,938,420.57 |
76,681,760.49 |
|
Deposit |
3,000.00 |
3,000.00 |
3,000.00 |
|
Total Assets
|
1,300,491,718.20 |
1,144,281,995.69 |
842,845,515.69 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
Feb. 28,
2014 |
Feb. 28,
2013 |
Feb. 29,
2012 |
|
|
|
|
|
|
Bank
Overdraft and Short-term Loan
from Financial Institution |
917,298,837.12 |
791,838,521.51 |
513,081,019.47 |
|
Trade
Accounts & Other Payable
|
47,628,700.20 |
95,015,199.46 |
60,603,879.06 |
|
Current
Portion of Long-term Loans |
18,237,578.95 |
- |
- |
|
Current
Portion of Hire-Purchase
Contract Payable |
3,813,935.48 |
2,265,786.84 |
2,576,336.55 |
|
Short-term Loan from Related Person |
- |
- |
12,500,000.00 |
|
Accrued
Income Tax |
2,639,888.23 |
1,288,509.58 |
1,006,852.02 |
|
Other
Current Liabilities |
772,895.66 |
2,236,520.32 |
10,279,427.02 |
|
Total Current
Liabilities |
990,391,835.64 |
892,644,537.71 |
600,047,514.12 |
|
|
|
|
|
|
Long-term Loans - Net
of
Current Portion |
46,196,645.05 |
- |
- |
|
Hire-Purchase Contract
Payable - Net
of Current Portion |
1,808,370.58 |
2,412,796.29 |
2,961,588.83 |
|
Total Liabilities |
1,038,396,851.27 |
895,057,334.00 |
603,009,102.95 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 10,000 par value
authorized, issued and
fully
paid share capital
20,000 shares |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Capital
Paid |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained
Earning - Unappropriated |
62,094,866.93 |
49,224,661.69 |
39,836,412.74 |
|
Total Shareholders' Equity |
262,094,866.93 |
11249,224,661.69 |
239,836,412.74 |
|
Total
Liabilities & Shareholders' Equity |
1,300,491,718.20 |
1,144,281,995.69 |
842,845,515.69 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
Feb. 28,
2014 |
Feb. 28,
2013 |
Feb. 29,
2012 |
|
|
|
|
|
|
Sales |
2,839,889,351.03 |
2,831,614,060.62 |
2,155,262,958.69 |
|
Gain on Exchange Rate |
- |
25,032,163.67 |
6,958,991.24 |
|
Other
Income |
3,830,644.63 |
2,560,240.92 |
4,232,853.74 |
|
Total Revenues
|
2,843,719,995.66 |
2,859,206,465.21 |
2,166,454,803.67 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost
of Goods Sold
|
2,620,199,004.62 |
2,655,587,144.14 |
1,998,183,370.17 |
|
Selling
Expenses |
98,478,180.43 |
94,410,327.66 |
77,148,744.57 |
|
Administrative Expenses |
70,773,412.45 |
68,304,419.61 |
59,618,701.19 |
|
Loss on Exchange Rate |
2,501,551.95 |
- |
- |
|
Total Expenses |
2,791,952,149.45 |
2,818,301,891.41 |
2,134,950,815.93 |
|
Profit / [Loss] before
Financial Cost &
Income Tax |
51,767,846.21 |
40,904,573.80 |
31,503,987.74 |
|
Financial
Cost |
[34,606,026.51] |
[27,595,647.43] |
[18,801,295.72] |
|
Profit / [Loss] before
Income Tax |
17,161,819.70 |
13,308,926.37 |
12,702,692.02 |
|
Income
Tax |
[4,291,614.46] |
[4,088,103.79] |
[4,474,101.00] |
|
Net Profit / [Loss] |
12,870,205.24 |
9,220,822.58 |
8,228,591.02 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.15 |
1.20 |
1.28 |
|
QUICK RATIO |
TIMES |
0.70 |
0.71 |
0.66 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
18.08 |
39.36 |
28.11 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.18 |
2.47 |
2.56 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
58.94 |
53.35 |
64.68 |
|
INVENTORY TURNOVER |
TIMES |
6.19 |
6.84 |
5.64 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
54.29 |
47.36 |
54.65 |
|
RECEIVABLES TURNOVER |
TIMES |
6.72 |
7.71 |
6.68 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
6.63 |
13.06 |
11.07 |
|
CASH CONVERSION CYCLE |
DAYS |
106.59 |
87.65 |
108.26 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.26 |
93.78 |
92.71 |
|
SELLING & ADMINISTRATION |
% |
5.96 |
5.75 |
6.35 |
|
INTEREST |
% |
1.22 |
0.97 |
0.87 |
|
GROSS PROFIT MARGIN |
% |
7.87 |
7.19 |
7.81 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.82 |
1.44 |
1.46 |
|
NET PROFIT MARGIN |
% |
0.45 |
0.33 |
0.38 |
|
RETURN ON EQUITY |
% |
4.91 |
3.70 |
3.43 |
|
RETURN ON ASSET |
% |
0.99 |
0.81 |
0.98 |
|
EARNING PER SHARE |
BAHT |
643.51 |
461.04 |
411.43 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.80 |
0.78 |
0.72 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.96 |
3.59 |
2.51 |
|
TIME INTEREST EARNED |
TIMES |
1.50 |
1.48 |
1.68 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
0.29 |
31.38 |
|
|
OPERATING PROFIT |
% |
26.56 |
29.84 |
|
|
NET PROFIT |
% |
39.58 |
12.06 |
|
|
FIXED ASSETS |
% |
118.39 |
(6.19) |
|
|
TOTAL ASSETS |
% |
13.65 |
35.76 |
|
ANNUAL
GROWTH: EXCELLENT
An annual sales growth is 0.29%. Turnover
has increased from THB
PROFITABILITY
: ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.87 |
Impressive |
Industrial Average |
5.55 |
|
Net Profit Margin |
0.45 |
Deteriorated |
Industrial Average |
1.12 |
|
Return on Assets |
0.99 |
Deteriorated |
Industrial Average |
2.85 |
|
Return on Equity |
4.91 |
Acceptable |
Industrial Average |
7.24 |
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
7.87%. 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 0.45%. 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 0.99%.
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
4.91%.
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 |
1.15 |
Acceptable |
Industrial Average |
1.67 |
|
Quick Ratio |
0.70 |
|
|
|
|
Cash Conversion Cycle |
106.59 |
|
|
|
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 1.15 times in 2014, decreased from 1.2 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 0.7 times in 2014, decreased from 0.71 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
107 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: ACCEPTABLE
LEVERAGE
RATIO
|
Debt Ratio |
0.80 |
Acceptable |
Industrial Average |
0.54 |
|
Debt to Equity Ratio |
3.96 |
Risky |
Industrial Average |
1.17 |
|
Times Interest Earned |
1.50 |
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 1.5 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 0.8
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
: IMPRESSIVE
ACTIVITY
RATIO
|
Fixed Assets Turnover |
18.08 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.18 |
Satisfactory |
Industrial Average |
2.54 |
|
Inventory Conversion Period |
58.94 |
|
|
|
|
Inventory Turnover |
6.19 |
Satisfactory |
Industrial Average |
7.59 |
|
Receivables Conversion Period |
54.29 |
|
|
|
|
Receivables Turnover |
6.72 |
Impressive |
Industrial Average |
5.22 |
|
Payables Conversion Period |
6.63 |
|
|
|
The company's Account Receivable Ratio is
calculated as 6.72 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 2013 to 59 days at the end of 2014. This represents a negative
trend. And Inventory turnover has decreased from 6.84 times in year 2013 to
6.19 times in year 2014.
The company's Total Asset Turnover is
calculated as 2.18 times and 2.47 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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
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
: |
DIV |
|
|
|
|
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.