MIRA INFORM REPORT
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Report No. : |
332259 |
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Report Date : |
20.07.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERNAL CHEMICAL LIMITED PARTNERSHIP |
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Registered Office : |
Part 1 Soi
Kasemsamran 2, Soi
2, Sukhumvit 71 Road,
Prakanong Nua, Wattana, Bangkok
10110 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.01.2008 |
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Com. Reg. No.: |
0103551000238 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Distributor of Industrial Chemicals. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Temporarily Stopped Its Business |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
INTERNAL CHEMICAL LIMITED PARTNERSHIP
SUMMARY
BUSINESS ADDRESS : PART 1 SOI
KASEMSAMRAN 2, SOI 2,
SUKHUMVIT 71
ROAD, PRAKANONG NUA,
WATTANA, BANGKOK
10110, THAILAND
TELEPHONE : [66] 2391-7173
FAX : -
E-MAIL ADDRESS : -
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 2008
REGISTRATION NO. : 0103551000238
TAX ID NO. : 3032899673
CAPITAL REGISTERED : BHT.
500,000
CAPITAL PAID-UP : BHT.
500,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : LIMITED PARTNERSHIP
EXECUTIVE : MR. VICHIEN SIRIPONG, THAI
MANAGING PARTNER
NO. OF STAFF : -
LINES OF BUSINESS : INDUSTRIAL CHEMICALS
DISTRIBUTOR
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CORPORATE PROFILE |
OPERATING TREND : -
PRESENT SITUATION : STOPPED
OPERATING TEMPORARILY
REPUTATION : -
MANAGEMENT STANDARD : -
HISTORY
The subject was
established on January 3,
2008 as a
limited partnership under the
name style INTERNAL CHEMICAL
LIMITED PARTNERSHIP by
Thai partners, with
the business objective
to distribute industrial
chemicals. However, its business has
been temporarily stopped since
2013.
The subject’s registered
address is Part 1
Soi Kasemsamran 2, Soi
2, Sukhumvit 71 Road,
Prakanong Nua, Wattana,
Bangkok 10110.
AUTHORIZED PERSON
Mr. Wichien Siripong signs
on behalf of
the subject with
seal affixed. He
also bears full financial
responsibility by law.
COMMENT
The subject has been
stopped its operation
since 2013 without
ceasing its business
at the Commercial
Registration Department, Ministry
of Commerce. However, there is
no further information about its
business resuming in
the near future.
Any business engagement is not recommended.
FINANCIAL INFORMATION
The capital was
registered at Bht. 500,000
which was carried by
2 persons as
followed:
Name Age Amount
Mr. Wichien Siripong 36 Bht.
250,000 [unlimited partner]
Address : 46/13 Nipatsongkroh
2 Road,
T. Hadyai, A.
Hadyai, Songkhla
Mr. Panthep Tuitemwong 36 Bht.
250,000
Address : 35/2 Montree
Road, T. Sobtui,
A. Muang, Lampang
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Wattana Treekantha No.
2399
Note:
The 2013-2014 financial
statements were not
submitted to the Commercial Registration
Department.
BALANCE SHEET
[BAHT]
The latest financial figures published
as at December
31, 2012, 2011 & 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
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Cash and Cash Equivalents |
258,886.07 |
364,183.48 |
242,029.79 |
|
Trade Accounts & Other
Receivable |
1,069,461.40 |
450,000.00 |
450,000.00 |
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Other Current Assets
|
21,125.00 |
14,625.00 |
11,250.00 |
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Total Current Assets
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1,349,472.47 |
828,808.48 |
703,279.79 |
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Fixed Assets |
10,496.85 |
19,190.88 |
20,235.94 |
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Total Assets |
1,359,969.32 |
847,999.36 |
723,515.73 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
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Trade Accounts & Other
Payable |
370,166.50 |
- |
- |
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Other Current Liabilities |
18,079.94 |
13,851.27 |
14,270.24 |
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Total Current Liabilities |
388,246.44 |
13,851.27 |
14,270.24 |
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Total Liabilities |
388,246.44 |
13,851.27 |
14,270.24 |
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Shareholders' Equity |
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Capital Paid |
500,000.00 |
500,000.00 |
500,000.00 |
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Retained Earning Unappropriated |
471,722.88 |
334,148.09 |
209,245.49 |
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Total Shareholders' Equity |
971,722.88 |
834,148.09 |
709,245.49 |
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Total Liabilities &
Shareholders' Equity |
1,359,969.32 |
847,999.36 |
723,515.73 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
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Sales Income |
1,341,360.00 |
1,095,454.07 |
906,105.00 |
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Other Income |
6,775.58 |
3,581.66 |
4,666.13 |
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Total Revenues |
1,348,135.58 |
1,099,035.73 |
910,771.13 |
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Expenses |
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Cost of Goods
Sold |
1,099,780.45 |
855,950.00 |
773,271.50 |
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Administrative Expenses |
110,780.34 |
118,183.13 |
111,163.57 |
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Total Expenses |
1,210,560.79 |
974,133.13 |
884,435.07 |
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Profit / [Loss] before Financial Cost |
137,574.79 |
124,902.60 |
26,336.06 |
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Financial Cost |
- |
- |
[430.00] |
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Net Profit / [Loss] |
137,574.79 |
124,902.60 |
25,906.06 |
As the company has stopped the business operation temporarily without
any schedule for restarting its operation.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.49 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
|
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
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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.