MIRA INFORM REPORT
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Report No. : |
332259 |
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Report Date : |
21.07.2015 |
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) : |
31.12.2015 |
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Year of Establishment : |
2008 |
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Com. Reg. No.: |
0103551000238 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Subject is distributer of industrial chemicals |
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No. of Employee : |
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 : |
Stopped operating temporarily |
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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 |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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.
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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
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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|
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Cash and Cash Equivalents |
258,886.07 |
364,183.48 |
242,029.79 |
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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
|
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.63.55 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
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.