MIRA INFORM REPORT
|
Report No. : |
330881 |
|
Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
YUNHEE
ENTERPRISE CO., LTD. |
|
|
|
|
Registered Office : |
1 Rangsit-Nakornnayok 48 Road, T. Prachatipat, A. Thanyaburi, Pathumthani 12130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
08.12.1987 |
|
|
|
|
Com. Reg. No.: |
0105530064344 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer of Printing
and Packaging Products. |
|
|
|
|
No. of Employees : |
140 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 and address
YUNHEE ENTERPRISE CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 1
RANGSIT-NAKORNNAYOK 48 ROAD,
T. PRACHATIPAT, A. THANYABURI,
PATHUMTHANI 12130,
THAILAND
TELEPHONE : [66] 2974-0650,
2533-0290-4
FAX : [66] 2533-0136
E-MAIL
ADDRESS : planproy@yahoo.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1987
REGISTRATION
NO. : 0105530064344
TAX
ID NO. : 3101487121
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. KAMTHORN TAITHONGCHAI,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 140
LINES
OF BUSINESS : PRINTING AND PACKAGING PRODUCTS
CONTRACT MANUFACTURER
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 December 8, 1987 as
a private limited
company under the registered name YUNHEE ENTERPRISE CO., LTD.,
by Thai groups, with
the business objective
to provide printing
and packaging services for consumer products. It
currently employs approximately
140 staff.
The
subject’s registered address
is 1 Rangsit-Nakornnayok 48 Rd., T.
Prachatipat,
A. Thanyaburi, Pathumthani
12130, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kamthorn Taithongchai |
[x] |
Thai |
79 |
|
Ms. Kitima Taithongchai |
|
Thai |
49 |
|
Mr. Torsak Taithongchai |
|
Thai |
47 |
|
Mrs. Prinda Taithongchai |
|
Thai |
48 |
AUTHORIZED PERSON
Only the mentioned
director [x] signs
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Kamthorn Taithongchai is
the Managing Director.
He is Thai
nationality with the
age of 79 years
old.
Mr. Torsak Taithongchai is
the Assistant Managing
Director.
He is Thai
nationality with the
age of 47 years
old.
Mrs. Prinda Taithongchai is
the Assistant Managing
Director.
She is Thai
nationality with the
age of 48
years old.
BUSINESS
OPERATIONS
The subject
is engaged in
manufacturing contract
various kinds of
printing products, such
as catalogue, calendar,
postcard, brochure and
etc., as well
as printing packaging
products for consumer
goods, such as
toothpastes, soaps, beverages,
cosmetics, electric appliances
and etc.
PURCHASE
100%
of its raw
materials and accessories
are purchased from
local suppliers.
SALES/SERVICES
100% of the
products is sold
and serviced locally
by wholesale to
manufacturers and end-users.
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 and services
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.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
140 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office,
printing house and warehouse
at the
heading
address. Premise is
located in provincial, on the
outskirts of Bangkok.
COMMENT
The
subject was formed
in 1987 as a
manufacturing contract of printing
and packaging products.
The products are
mainly served to
various industries e.g.
electric appliance, consumer goods, beverage, cosmetic and
etc.
The subject posted
its slow sales
for the year
end December 31,
2013 compared to
the previous year.
Moreover, sales in
2015 has seen
slow growth due
to unfavorable conditions of
some industries with
the economy remains
slow improvement.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000
shares of Bht.
100 each with
fully paid.
On July 4, 1989, the
registered capital was increased
to Bht. 5,000,000 divided into 50,000
shares of Bht. 100
each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 30,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kamthorn Taithongchai Nationality: Thai Address : 236/3-4
Rama 1 Rd.,
Pathumwan,
Pathumwan, Bangkok |
41,600 |
83.20 |
|
Mrs. Somluck Taithongchai Nationality: Thai Address : 1
Rangsit-Nakornnayok 48 Rd.,
Prachatipat, Thanyaburi, Pathumthani
|
2,000 |
4.00 |
|
Ms. Kitima Taithongchai Nationality: Thai Address : 235
Soi Arkarnsongkroh, Thungwatdon, Sathorn, Bangkok |
2,000 |
4.00 |
|
Mrs. Prinda Taithongchai Nationality: Thai Address : 216
Rangsit-Nakornnayok 49 Rd.,
Prachatipat, Thanyaburi, Pathumthani
|
2,000 |
4.00 |
|
Mr. Torsak Taithongchai Nationality: Thai Address : 1
Rangsit-Nakornnayok 48 Rd.,
Prachatipat, Thanyaburi, Pathumthani |
2,000 |
4.00 |
|
Mr. Kampol Wanachewanawin Nationality: Thai Address : 269/201
Charansanitwong Rd., Bangkhunsri, Bangkoknoi,
Bangkok |
200 |
0.40 |
|
|
|
|
|
Mr. Suvachara Charoenphol Nationality: Thai Address : 240-248
Banthadthong Rd., Wangmai,
Pathumwan, Bangkok |
200 |
0.40 |
Total Shareholders : 7
Share
Structure
[as at April
30, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
50,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Porntip Vatinkla No.
4158
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 |
37,096,853.29 |
25,133,446.72 |
8,454,950.16 |
|
Cash at Bank
pledged as a Collateral |
341,881.94 |
324,000.00 |
565,429.16 |
|
Trade Accounts Receivable
|
27,438,321.64 |
26,238,227.29 |
25,624,109.10 |
|
Other Receivable |
880,170.51 |
1,447,647.68 |
1,633,194.11 |
|
Short-term Lending to Person
or Related Company |
367,470.40 |
6,266,929.79 |
1,573,209.41 |
|
Inventories |
22,445,362.97 |
20,098,441.74 |
21,155,723.68 |
|
Other Current Assets
|
155,542.41 |
131,749.89 |
887,984.49 |
|
|
|
|
|
|
Total Current Assets
|
88,725,603.16 |
79,640,443.11 |
59,894,600.11 |
|
|
|
|
|
|
Investment in Related
Company |
51,000,000.00 |
51,000,000.00 |
51,000,000.00 |
|
Deposit for Machinery |
- |
1,583,460.00 |
- |
|
Fixed Assets |
49,647,631.13 |
41,837,754.77 |
41,478,504.66 |
|
Total Assets |
189,373,234.29 |
174,061,657.88 |
152,373,104.77 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
9,798,925.51 |
7,950,714.73 |
3,107,285.51 |
|
Trade Accounts Payable
|
29,346,267.31 |
21,545,528.47 |
19,491,569.25 |
|
Accrued Expenses |
7,117,981.02 |
6,631,405.40 |
3,510,441.55 |
|
Accrued Interest |
3,464,496.14 |
3,630,523.74 |
3,729,383.48 |
|
Other Payable |
134,806.00 |
119,698.00 |
138,396.00 |
|
Current Portion of
Long-term Loans |
14,173,370.39 |
29,743,630.14 |
- |
|
Short-term Loan from
Person or Related Company |
- |
- |
34,956,621.37 |
|
Accrued Income Tax |
1,613,426.73 |
1,741,134.32 |
862,695.27 |
|
Other Current Liabilities |
1,057,984.56 |
816,487.11 |
772,157.10 |
|
|
|
|
|
|
Total Current Liabilities |
66,707,257.66 |
72,179,121.91 |
66,568,549.53 |
|
Obligation from Employee Benefits
|
14,549,114.47 |
13,595,767.43 |
13,255,341.34 |
|
Total Liabilities |
81,256,372.13 |
85,774,889.34 |
79,823,890.87 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 50,000 shares |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning -
Unappropriated |
103,116,862.16 |
83,286,768.54 |
67,549,213.90 |
|
Total Shareholders' Equity |
108,116,862.16 |
88,286,768.54 |
72,549,213.90 |
|
Total Liabilities & Shareholders' Equity |
189,373,234.29 |
174,061,657.88 |
152,373,104.77 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
215,385,920.19 |
226,826,058.41 |
218,742,433.40 |
|
Other Income |
2,423,552.57 |
3,337,922.59 |
4,169,663.20 |
|
Total Revenues |
217,809,472.76 |
230,163,981.00 |
222,912,096.60 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
152,619,150.25 |
172,229,027.29 |
179,073,319.26 |
|
Selling Expenses |
16,140,795.77 |
12,587,365.28 |
9,824,539.90 |
|
Administrative Expenses |
21,743,062.95 |
21,436,694.22 |
21,717,580.63 |
|
Total Expenses |
190,503,008.97 |
206,253,086.79 |
210,615,439.79 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income Tax |
27,306,463.79 |
23,910,894.21 |
12,296,656.81 |
|
Financial Cost |
[1,931,387.26] |
[3,004,911.64] |
[2,426,379.22] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
25,375,076.53 |
20,905,982.57 |
9,870,277.59 |
|
Financial Costs |
[5,544,982.91] |
[5,168,427.93] |
[2,421,735.30] |
|
|
|
|
|
|
Net Profit / [Loss] |
19,830,093.62 |
15,737,554.64 |
7,448,542.29 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.33 |
1.10 |
0.90 |
|
QUICK RATIO |
TIMES |
0.99 |
0.82 |
0.57 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.34 |
5.42 |
5.27 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.14 |
1.30 |
1.44 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
53.68 |
42.59 |
43.12 |
|
INVENTORY TURNOVER |
TIMES |
6.80 |
8.57 |
8.46 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
46.50 |
42.22 |
42.76 |
|
RECEIVABLES TURNOVER |
TIMES |
7.85 |
8.64 |
8.54 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
70.18 |
45.66 |
39.73 |
|
CASH CONVERSION CYCLE |
DAYS |
29.99 |
39.15 |
46.15 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
70.86 |
75.93 |
81.86 |
|
SELLING & ADMINISTRATION |
% |
17.59 |
15.00 |
14.42 |
|
INTEREST |
% |
3.47 |
3.60 |
2.22 |
|
GROSS PROFIT MARGIN |
% |
30.27 |
25.54 |
20.04 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
12.68 |
10.54 |
5.62 |
|
NET PROFIT MARGIN |
% |
9.21 |
6.94 |
3.41 |
|
RETURN ON EQUITY |
% |
18.34 |
17.83 |
10.27 |
|
RETURN ON ASSET |
% |
10.47 |
9.04 |
4.89 |
|
EARNING PER SHARE |
BAHT |
396.60 |
314.75 |
148.97 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.43 |
0.49 |
0.52 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.75 |
0.97 |
1.10 |
|
TIME INTEREST EARNED |
TIMES |
3.65 |
2.93 |
2.54 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(5.04) |
3.70 |
|
|
OPERATING PROFIT |
% |
14.20 |
94.45 |
|
|
NET PROFIT |
% |
26.00 |
111.28 |
|
|
FIXED ASSETS |
% |
18.67 |
0.87 |
|
|
TOTAL ASSETS |
% |
8.80 |
14.23 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is -5.04%. Turnover has decreased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
30.27 |
Deteriorated |
Industrial
Average |
129.44 |
|
Net Profit Margin |
9.21 |
Impressive |
Industrial
Average |
5.36 |
|
Return on Assets |
10.47 |
Impressive |
Industrial
Average |
7.28 |
|
Return on Equity |
18.34 |
Impressive |
Industrial
Average |
14.31 |
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 30.27%. 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 9.21%, 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
10.47%, 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 18.34%, 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 :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.33 |
Impressive |
Industrial
Average |
1.17 |
|
Quick Ratio |
0.99 |
|
|
|
|
Cash Conversion Cycle |
29.99 |
|
|
|
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 1.1 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 0.99 times in 2013,
increased from 0.82 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 30 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Stable
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.43 |
Impressive |
Industrial
Average |
0.48 |
|
Debt to Equity Ratio |
0.75 |
Impressive |
Industrial
Average |
0.90 |
|
Times Interest Earned |
3.65 |
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 3.66 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 0.43 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 |
4.34 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.14 |
Satisfactory |
Industrial
Average |
1.36 |
|
Inventory Conversion Period |
53.68 |
|
|
|
|
Inventory Turnover |
6.80 |
Satisfactory |
Industrial
Average |
8.87 |
|
Receivables Conversion Period |
46.50 |
|
|
|
|
Receivables Turnover |
7.85 |
Impressive |
Industrial
Average |
4.70 |
|
Payables Conversion Period |
70.18 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.85 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 43 days at the
end of 2012 to 54 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 8.57 times in year 2012 to 6.8 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.14 times and 1.3
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.63.57 |
|
|
1 |
Rs.98.22 |
|
Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.