MIRA INFORM REPORT
|
Report No. : |
332025 |
|
Report Date : |
16.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
TREEVIEW CO., LTD. |
|
|
|
|
Registered Office : |
106/29 Moo 8, T. Banglamung, A. Banglamung, Chonburi 20150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Year of Establishment : |
2001 |
|
|
|
|
Com. Reg. No.: |
0745544000704 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing service
of electronics products
such as LCD
and LED television, LCD
and LED monitor |
|
|
|
|
No. of Employees : |
180 |
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 : |
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 |
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
TREEVIEW CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : 106/29 MOO
8, T. BANGLAMUNG, A. BANGLAMUNG,
CHONBURI 20150,
THAILAND
TELEPHONE : [66] 38
401-570-2
FAX :
[66] 38
495-083
E-MAIL
ADDRESS : delimeisang@gmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2001
REGISTRATION
NO. : 0745544000704
TAX
ID NO. : 3751028132
CAPITAL REGISTERED : BHT. 355,000,000
CAPITAL PAID-UP : BHT.
355,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SOMPOON
CHITPREDAKON, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 180
LINES
OF BUSINESS : ELECTRONICS PRODUCTS
MANUFACTURER, EXPORTER
AND DISTRIBUTOR
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 April 10,
2001 as a private
limited company under the
registered name TREEVIEW CO.,
LTD. by Thai groups.
Its business objective
is to provide manufacturing
service of electronics
products to both domestic
and international markets.
It currently employs
approximately 180 staff.
It
achieved the standard ISO 9001 : 2000 certification.
The subject’s registered address was
initially at 227/2 Moo 3,
Sukhumvit Rd., T. Thungsukla, A. Sriracha,
Chonburi 20230.
On October 1, 2012, its registered address
was relocated to 106/29 Moo 8,
T. Banglamung, A. Banglamung,
Chonburi 20150, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sompoon Chitpredakon |
|
Thai |
57 |
|
Mr. Kawin Mutchimo |
|
Thai |
37 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sompoon Chitpredakon is the
Managing Director.
He is Thai nationality with
the age of 57
years old.
Mr. Kawin Mutchimo is the
Deputy Managing Director.
He is Thai
nationality with the
age of 37
years old.
Mr. Dilok Chitpredakon is the Oversea Sales Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in manufacturing service
of electronics products
such as LCD
and LED television, LCD
and LED monitor
for computer under
customer’s own brands.
PRODUCTION CAPACITY
50,000 sets per
month
PURCHASE
Electronic
parts are purchased
from suppliers in both
domestic and overseas,
such as Taiwan,
India, Germany and
Republic of China.
SALES
95% of the
products is exported
to U.S.A., South
Korea, Singapore, India,
Republic of China,
Malaysia, Japan, Hong
Kong, Taiwan and
the countries in
Europe, and the
remaining 5% is
sold locally.
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
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 term of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports area against
T/T.
BANKING
Krung
Thai Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately 180 staff.
LOCATION DETAILS
The
premise is owned for administrative office and
factory at the
heading address. Premise is
located in provincial.
Warehouse
is located at
214/3 Moo 7, T. Nongkham,
A. Sriracha, Chonburi 20230.
Sales
office is located at 3rd Floor, Amornphan Building, 604/3 Petchaburi Road, Petchaburi,
Rajthewi, Bangkok 10400.
Tel. [66] 2314-2007.
COMMENT
The
subject is a
manufacturer, distributor and
exporter of electronic
products for industrial sector. Subject has
strong production capability in
order to serve the
customers with high
technology processing.
Despite
slow recovery in
USA and EU
countries, sale of
electronic products this
year is expected
to remain unchanged
from the year
before. The subject
is able to continue
exporting its products
to overseas.
FINANCIAL INFORMATION
The capital was registered at Bht. 10,000,000 divided
into 100,000 shares of Bht. 100
each with fully
paid.
The
capital was increased
later as follows:
Bht. 30,000,000
on May 31,
2004
Bht. 60,000,000
on February 10,
2006
Bht. 80,000,000
on January 11,
2007
Bht. 120,000,000
on August 10,
2010
Bht. 205,000,000
on May 17,
2012
Bht. 355,000,000
on August 27,
2014
The
latest registered capital
was increased to Bht. 355 million,
divided into 3,550,000
shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE
[as
at April 30,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sompoon Chitpredakon Nationality: Thai Address : 48/5
Moo 3, T. Buengkasam, A. Nongsua, Pathumthani |
2,129,999 |
60.00 |
|
Mr. Somchai Chitpredakon Nationality: Thai Address : 191/40
Ratchadapisek Rd., Klongtoey, Bangkok |
1,420,000 |
40.00 |
|
Mrs. Sainupa Sutthipho Nationality: Thai Address : 209
Moo 8, Muangbua, Kasetvisai,
Roi-ed |
1 |
- |
Total Shareholders : 3
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
3,550,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
3,550,000 |
100.00 |
NAME
OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Prof. Panya Udomrati
No. 2653
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December
31, 2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
16,348,133.42 |
8,131,240.95 |
10,925,315.01 |
|
Trade Accounts &
Other Receivable |
2,204,188,856.36 |
1,071,203,469.86 |
655,585,159.85 |
|
Inventories |
341,474,348.66 |
280,358,342.24 |
218,193,101.95 |
|
Other Current Assets
|
221,671,078.34 |
59,339.53 |
3,846,868.05 |
|
|
|
|
|
|
Total Current Assets
|
2,783,682,416.78 |
1,359,752,392.58 |
888,550,444.86 |
|
Cash at Bank
pledged as a Collateral |
377,368,688.01 |
334,361,429.95 |
229,521,131.35 |
|
Fixed Assets |
257,714,116.89 |
310,100,311.93 |
184,978,299.23 |
|
Long-term Investment |
10,548,499.99 |
10,548,499.99 |
10,548,499.99 |
|
Other Non-current Assets |
6,497,760.47 |
6,502,280.47 |
85,509.87 |
|
Total Assets |
3,435,811,482.14 |
2,021,264,914.92 |
1,313,683,885.30 |
LIABILITIES & SHAREHOLDERS' EQUITY
[BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft
& Short-term Loan
from
Financial Institution |
1,300,010,687.98 |
598,140,616.85 |
596,261,292.07 |
|
Trade Accounts
& Other Payable |
1,731,712,071.31 |
890,267,184.29 |
248715,158.56 |
|
Short-term Loan
from Person and Related
Company |
- |
- |
25,574,463.08 |
|
Current Portion of
Finance Lease Contract
Liabilities |
1,336,951.40 |
1,135,217.36 |
1,909,302.74 |
|
Current Portion
of Long-term Loan from
Financial
Institution |
4,009,400.00 |
1,152,000.00 |
1,540,800.00 |
|
Accrued Income
Tax |
1,033,669.47 |
21,373.74 |
559,311.62 |
|
Other Current
Liabilities |
2,019,629.80 |
310,655,355.75 |
226,476,387.44 |
|
|
|
|
|
|
Total Current
Liabilities |
3,040,122,409.96 |
1,801,371,747.99 |
1,101,036,715.51 |
|
Long-term Loan
from Financial Institution |
8,081,152.25 |
11,133,237.61 |
4,269,261.95 |
|
Finance Lease
Contract Liabilities - Net |
2,432,546.78 |
501,289.37 |
974,674.12 |
|
Other Non-current
Liabilities |
297,500.00 |
305,000.00 |
257,000.00 |
|
Total Liabilities |
3,050,933,608.99 |
1,813,311,274.97 |
1,106,537,651.58 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value Authorized &
issued share capital
3,550,000 shares
in 2014 |
355,000,000.00 |
|
|
|
2,050,000 shares
in 2013 &
2012 |
|
205,000,000.00 |
205,000,000.00 |
|
|
|
|
|
|
Capital Paid |
355,000,000.00 |
205,000,000.00 |
205,000,000.00 |
|
Retained Earning - Unappropriated |
29,877,873.15 |
2,953,639.95 |
2,146,233.72 |
|
|
|
|
|
|
Total Shareholders' Equity |
384,877,873.15 |
207,953,639.95 |
207,146,233.72 |
|
Total Liabilities &
Shareholders' Equity |
3,435,811,482.14 |
2,021,264,914.92 |
1,313,683,885.30 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales |
4,163,651,861.08 |
3,538,682,928.92 |
2,173,418,461.30 |
|
Other Income |
79,064,413.23 |
96,262,560.56 |
13,435,774.63 |
|
Total Revenues |
4,242,716,274.31 |
3,634,945,489.48 |
2,186,854,235.93 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
4,039,093,859.38 |
3,425,813,491.92 |
2,069,872,728.52 |
|
Selling Expenses |
23,575,524.07 |
20,656,316.91 |
19,863,134.27 |
|
Administrative Expenses |
88,580,019.76 |
131,934,307.52 |
55,798,676.75 |
|
Total Expenses |
4,151,249,403.21 |
3,578,404,116.35 |
2,145,534,539.54 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost &
Income Tax |
91,466,871.10 |
56,541,373.13 |
41,319,696.39 |
|
Financial Cost |
[62,638,606.93] |
[54,252,563.69] |
[37,423,432.65] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
28,828,264.17 |
2,288,809.44 |
3,896,263.74 |
|
Income Tax |
[1,904,030.97] |
[1,481,403.21] |
[940,160.55] |
|
Net Profit / [Loss] |
26,924,233.20 |
807,406.23 |
2,956,103.19 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.92 |
0.75 |
0.81 |
|
QUICK RATIO |
TIMES |
0.73 |
0.60 |
0.61 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
16.16 |
11.41 |
11.75 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.21 |
1.75 |
1.65 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
30.86 |
29.87 |
38.48 |
|
INVENTORY TURNOVER |
TIMES |
11.83 |
12.22 |
9.49 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
193.23 |
110.49 |
110.10 |
|
RECEIVABLES TURNOVER |
TIMES |
1.89 |
3.30 |
3.32 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
156.49 |
94.85 |
43.86 |
|
CASH CONVERSION CYCLE |
DAYS |
67.60 |
45.51 |
104.72 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
97.01 |
96.81 |
95.24 |
|
SELLING & ADMINISTRATION |
% |
2.69 |
4.31 |
3.48 |
|
INTEREST |
% |
1.50 |
1.53 |
1.72 |
|
GROSS PROFIT MARGIN |
% |
4.89 |
5.91 |
5.38 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.20 |
1.60 |
1.90 |
|
NET PROFIT MARGIN |
% |
0.65 |
0.02 |
0.14 |
|
RETURN ON EQUITY |
% |
7.00 |
0.39 |
1.43 |
|
RETURN ON ASSET |
% |
0.78 |
0.04 |
0.23 |
|
EARNING PER SHARE |
BAHT |
7.58 |
0.39 |
1.44 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.89 |
0.90 |
0.84 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.93 |
8.72 |
5.34 |
|
TIME INTEREST EARNED |
TIMES |
1.46 |
1.04 |
1.10 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
17.66 |
62.82 |
|
|
OPERATING PROFIT |
% |
61.77 |
36.84 |
|
|
NET PROFIT |
% |
3,234.66 |
(72.69) |
|
|
FIXED ASSETS |
% |
(16.89) |
67.64 |
|
|
TOTAL ASSETS |
% |
69.98 |
53.86 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 17.66%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
4.89 |
Impressive |
Industrial
Average |
(4.62) |
|
Net Profit Margin |
0.65 |
Impressive |
Industrial
Average |
(1.67) |
|
Return on Assets |
0.78 |
Impressive |
Industrial
Average |
(4.17) |
|
Return on Equity |
7.00 |
Impressive |
Industrial
Average |
(8.11) |
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 4.89%. 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 0.65%, 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 0.78%, 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 7%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.92 |
Risky |
Industrial
Average |
0.74 |
|
Quick Ratio |
0.73 |
|
|
|
|
Cash Conversion Cycle |
67.60 |
|
|
|
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 0.92 times in 2014, increased from 0.75 times, then the company may
have problems meeting its short-term obligations. 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 0.73 times in 2014,
increased from 0.6 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 68 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.89 |
Acceptable |
Industrial
Average |
0.88 |
|
Debt to Equity Ratio |
7.93 |
Risky |
Industrial
Average |
4.13 |
|
Times Interest Earned |
1.46 |
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 1.47 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 0.89 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 Uptrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
16.16 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.21 |
Impressive |
Industrial
Average |
0.66 |
|
Inventory Conversion Period |
30.86 |
|
|
|
|
Inventory Turnover |
11.83 |
Impressive |
Industrial
Average |
1.19 |
|
Receivables Conversion Period |
193.23 |
|
|
|
|
Receivables Turnover |
1.89 |
Satisfactory |
Industrial
Average |
1.97 |
|
Payables Conversion Period |
156.49 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.89 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 30 days at the
end of 2013 to 31 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 12.22 times in year 2013 to 11.83
times in year 2014.
The company's Total Asset Turnover is calculated as 1.21 times and 1.75
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.63.38 |
|
|
1 |
Rs.99.13 |
|
Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.