MIRA INFORM REPORT
|
Report No. : |
333654 |
|
Report Date : |
27.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
UTOPIA JEWELLERY LTD. |
|
|
|
|
Registered Office : |
60-71 Moo 13, Suksawad Road, T. Bangpueng,
A. Phrapradaeng, Samutprakarn 10130 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
09.08.1999 |
|
|
|
|
Com. Reg. No.: |
0105542057968 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing and
exporting various kinds
of jewelry products
such as chain, bracelet,
ring, barrette, earring,
necklace, pin, cuff
link, tie pin,
tie bar |
|
|
|
|
No. of Employee : |
200 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 |
B1 |
B1 |
|
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
UTOPIA JEWELLERY
LTD.
SUMMARY
BUSINESS
ADDRESS : 60-71
MOO 13, SUKSAWAD ROAD,
T. BANGPUENG, A. PHRAPRADAENG,
SAMUTPRAKARN 10130,
THAILAND
TELEPHONE : [66] 2818-0606-10
FAX :
[66] 2818-0601, 2818-1112
E-MAIL
ADDRESS :
sales@utopia-thai.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0105542057968 [Former:
921/2542]
TAX
ID NO. : 3021055233
CAPITAL REGISTERED : BHT. 100,000,000
CAPITAL PAID-UP : BHT.
100,000,000
SHAREHOLER’S
PROPORTION : CANADIAN :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. JOSEP CHILON,
CANADIAN
PRESIDENT
NO.
OF STAFF : 200
LINES
OF BUSINESS : JEWELRY PRODUCTS
MANUFACTURER 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 August 9, 1999 as
a private limited
company under the name style “UTOPIA JEWELLERY LTD.” by
Canadian groups, in
order to manufacture
jewelry products for
exports. It currently
employs approximately 200
staff.
The
subject’s registered address
is 60-71 Moo
13, Suksawad Rd.,
T. Bangpueng,
A. Phrapradaeng, Samutprakarn 10130, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Josep Chilon |
|
Canadian |
57 |
|
Mr. Samuel Cohen |
|
Israeli |
47 |
AUTHORIZED
PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Josep Chilon is
the President
He is Canadian
nationality with the
age of 57
years old.
Mr. Samuel Cohen is
the Managing Director.
He is Israeli
nationality with the
age of 47
years old.
Ms. Mona Chilon is
the Export Manager
She is Canadian
nationality.
BUSINESS
OPERATIONS
The subject is
engaged in manufacturing
and exporting various
kinds of jewelry
products such as chain,
bracelet, ring, barrette,
earring, necklace, pin,
cuff link, tie
pin, tie bar and
etc., under customers’
orders and brands.
PURCHASE
Raw materials such as silver, gold, diamonds, gemstones and accessories are purchased from suppliers both domestic and overseas, such as France, India, Hong Kong, Republic of China, Japan and Africa.
EXPORT
100% of the
products is exported
to Indonesia, Malaysia,
Hong Kong, India, Singapore,
France, United Kingdom, U.S.A.,
Australia, Italy, Canada,
Israel, Switzerland, Austria
and Middle East
countries.
MAJOR
CUSTOMERS
Diamonds Forever Ltd. : Israel
JSN Jewellery Inc. : Canada
JSN Jewellery UK
Ltd. : U.K.
SUBSIDIARY
AND FFILIATED 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 to the
past two years.
CREDIT
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 are against
L/C at sight
or T/T.
BANKING
Kasikornbank Public Co., Ltd.
[Head Office : 1
Kasikorn Lane, Rajburana
Rd., Rajburana, Bangkok]
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately
200 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office,
factory and warehouse
at the heading
address.
Premise is located
in industrial area.
COMMENT
The subject has expanded to become an
international gem and jewellery business, with
well reputation. While being recognized as a leading in Thailand’s gem
and jewellery industry, the subject also boasted clients around the world. The
subject produces medium to high-end products with sophisticated design and high
technology. Hundred percent products
have been marketed in international
markets.
FINANCIAL
INFORMATION
The
capital was initially registered
at Bht. 10,000,000 divided
into 100,000 shares
of Bht. 100
each.
The
capital was increased
later as follows:
Bht. 50,000,000
on March 21,
2000
Bht. 100,000,000
on September 9,
2014
The
latest registered capital
was increased to Bht. 100,000,000 divided
into 1,000,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE
[as
at September 1,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Josep Chilon Nationality: Canadian Address : Ontario,
Canada |
999,994 |
100.00 |
|
Ms. Gilla Chilon Nationality: Canadian Address : Ontario,
Canada |
1 |
- |
|
Mr. Jagutnarin Tagi Nationality: Canadian Address : Ontario,
Canada |
1 |
- |
|
Ms. Zefra Chilon Nationality: Canadian Address : Ontario,
Canada |
1 |
- |
|
Mrs. Itria Zeminara Nationality: Canadian Address : Ontario,
Canada |
1 |
- |
|
Mr. Douglas Wood Nationality: Canadian Address : Ontario,
Canada |
1 |
- |
|
Mrs. Lora Fiscaletti Nationality: Canadian Address : Ontario,
Canada |
1 |
- |
Total Shareholders : 7
Share Structure [as
at September 1,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
7 |
500,000 |
100.00 |
|
Total |
7 |
500,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Vuthipong Thabthieng No.
7531
Note
The 2014 financial
statement has not
yet available during
investigation.
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December
31, 2013, 2012 & 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalent |
79,556.17 |
79,153.35 |
79,533.00 |
|
Trade Accounts & Other Receivable |
346,754,177.41 |
383,101,541.90 |
211,200,694.73 |
|
Short-term Loan |
6,023,384.05 |
20,685,846.33 |
62,518,442.24 |
|
Inventories |
605,976,852.63 |
539,035,078.05 |
615,283,241.54 |
|
Receivable-Revenue Department |
4,684,322.20 |
3,365,589.81 |
1,264,927.46 |
|
Other Current Assets |
705,098.00 |
851,262.10 |
645,918.55 |
|
Total Current Assets
|
964,223,390.46 |
947,118,471.54 |
80,992,757.52 |
|
Cash at Bank Pledged as a Collateral |
14,194,434.76 |
18,072,607.50 |
8,651,228.95 |
|
Fixed Assets |
21,857,639.43 |
20,149,727.43 |
21,093,581.39 |
|
Intangible Assets |
1,227,883.03 |
1,344,486.61 |
583,883.76 |
|
Other Non-current Assets |
3,400,543.25 |
3,001,928.76 |
2,557,082.00 |
|
Total Assets |
1,004,903,890.93 |
989,687,221.84 |
923,878,533.62 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
101,765,467.02 |
64,582,772.37 |
87,726,612.79 |
|
Trade Accounts & Other
Payable |
806,029,189.69 |
833,451,348.39 |
703,388,916.48 |
|
Short-term Loans |
1,355,064.20 |
1,618,930.67 |
52,991,972.51 |
|
Current Portion of Financial Lease Contract Liabilities |
3,201,125.19 |
3,097,962.20 |
2,564,303.06 |
|
Other Current Liabilities |
1,855,290.39 |
2,114,471.54 |
1,512,165.11 |
|
Total Current Liabilities |
914,206,136.49 |
904,865,485.17 |
848,183,969.95 |
|
|
|
|
|
|
Financial Lease Contract Liabilities |
4,045,262.42 |
4,780,042.53 |
2,571,327.87 |
|
Long-term Loans |
813,833.77 |
2,206,705.64 |
- |
|
Total Liabilities |
919,065,232.68 |
911,852,233.34 |
850,755,297.82 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 500,000 shares |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Capital Paid |
50,000,000.00 |
50,000,000.00 |
50,000,000.00 |
|
Retained Earning - Unappropriated |
35,838,658.25 |
27,834,988.50 |
23,123,235.80 |
|
Total Shareholders' Equity |
85,838,658.25 |
77,834,988.50 |
73,123,235.80 |
|
Total Liabilities &
Shareholders' Equity |
1,004,903,890.93 |
989,687,221.84 |
923,878,533.62 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales |
1,506,446,651.36 |
1,450,372,609.35 |
1,023,368,733.26 |
|
Other Income |
1,027,326.06 |
27,930,837.97 |
2,085,187.76 |
|
Total Revenues |
1,507,473,977.42 |
1,478,303,447.32 |
1,025,453,921.02 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Change in Goods |
[66,941,774.58] |
76,248,163.49 |
[279,866,452.97] |
|
Raw Material & Material Supplies |
1,395,267,398.45 |
1,224,327,193.04 |
1,137,000,245.41 |
|
Employees Expenses |
106,138,048.54 |
112,614,662.64 |
95,789,619.84 |
|
Depreciation and Amortization |
8,306,290.11 |
8,257,603.44 |
9,007,701.00 |
|
Person Expenses |
15,115,510.99 |
7,267,770.86 |
6,055,251.27 |
|
Electrical Expenses |
4,783,527.51 |
5,035,276.02 |
4,803,169.30 |
|
Rental Factory |
3,035,735.85 |
2,299,440.58 |
2,220,582.69 |
|
Insurance |
890,555.87 |
1,068,247.67 |
2,831,195.95 |
|
Promotion Sales Expenses |
117,120.00 |
3,521,276.65 |
5,228,238.15 |
|
Export Expenses |
5,777,946.66 |
5,965,484.57 |
4,950,681.33 |
|
Repairs & Maintenance |
1,876,256.64 |
2,050,959.99 |
1,861,054.70 |
|
Services |
2,099,342.68 |
2,637,610.46 |
2,806,046.39 |
|
Traveling expense |
1,379,491.40 |
1,611,563.10 |
2,985,239.62 |
|
Loss on Exchange Rate |
2,671,160.09 |
- |
7,452,346.65 |
|
Other Expenses |
11,096,381.01 |
12,947,333.53 |
12,806,776.42 |
|
Total Expenses |
1,491,612,991.22 |
1,465,852,586.04 |
1,015,931,695.75 |
|
Profit Before Financial Cost & Income Tax |
15,860,986.20 |
12,450,861.28 |
9,522,225.27 |
|
Interest Expenses |
[5,377,233.50] |
[4,949,394.01] |
[6,331,017.08] |
|
Profit Before Income Tax |
10,483,752.70 |
7,501,467.27 |
3,191,208.19 |
|
Income Tax |
[2,480,082.95] |
[2,789,714.57] |
[1,991,325.26] |
|
Net Profit / [Loss] |
8,003,669.75 |
4,711,752.70 |
1,199,882.93 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.05 |
1.05 |
1.05 |
|
QUICK RATIO |
TIMES |
0.39 |
0.45 |
0.32 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
68.92 |
71.98 |
48.52 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.50 |
1.47 |
1.11 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
158.52 |
160.70 |
197.52 |
|
INVENTORY TURNOVER |
TIMES |
2.30 |
2.27 |
1.85 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
84.02 |
96.41 |
75.33 |
|
RECEIVABLES TURNOVER |
TIMES |
4.34 |
3.79 |
4.85 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
210.86 |
248.47 |
225.80 |
|
CASH CONVERSION CYCLE |
DAYS |
31.68 |
8.64 |
47.04 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
92.62 |
84.41 |
111.10 |
|
SELLING & ADMINISTRATION |
% |
9.54 |
10.09 |
13.05 |
|
INTEREST |
% |
0.36 |
0.34 |
0.62 |
|
GROSS PROFIT MARGIN |
% |
7.45 |
17.51 |
(10.90) |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.05 |
0.86 |
0.93 |
|
NET PROFIT MARGIN |
% |
0.53 |
0.32 |
0.12 |
|
RETURN ON EQUITY |
% |
9.32 |
6.05 |
1.64 |
|
RETURN ON ASSET |
% |
0.80 |
0.48 |
0.13 |
|
EARNING PER SHARE |
BAHT |
16.01 |
9.42 |
2.40 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.91 |
0.92 |
0.92 |
|
DEBT TO EQUITY RATIO |
TIMES |
10.71 |
11.72 |
11.63 |
|
TIME INTEREST EARNED |
TIMES |
2.95 |
2.52 |
1.50 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
3.87 |
41.73 |
|
|
OPERATING PROFIT |
% |
27.39 |
30.76 |
|
|
NET PROFIT |
% |
69.87 |
292.68 |
|
|
FIXED ASSETS |
% |
8.48 |
(4.47) |
|
|
TOTAL ASSETS |
% |
1.54 |
7.12 |
|
ANNUAL
GROWTH : EXCELLENT
An annual sales growth is 3.87%. Turnover has increased from THB
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
7.45 |
Deteriorated |
Industrial
Average |
25.13 |
|
Net Profit Margin |
0.53 |
Deteriorated |
Industrial
Average |
10.16 |
|
Return on Assets |
0.80 |
Deteriorated |
Industrial
Average |
14.30 |
|
Return on Equity |
9.32 |
Deteriorated |
Industrial
Average |
26.01 |
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 7.45%. 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 0.53%.
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 0.8%.
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 9.32%.
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 |
1.05 |
Deteriorated |
Industrial Average |
2.20 |
|
Quick Ratio |
0.39 |
|
|
|
|
Cash Conversion Cycle |
31.68 |
|
|
|
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 1.05 times in 2013, as same figure
as 1.05 times in 2012, 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 0.39 times in 2013,
decreased from 0.45 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 32 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.91 |
Acceptable |
Industrial
Average |
0.43 |
|
Debt to Equity Ratio |
10.71 |
Risky |
Industrial
Average |
0.75 |
|
Times Interest Earned |
2.95 |
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 2.95 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 0.91 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 |
68.92 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.50 |
Impressive |
Industrial
Average |
1.41 |
|
Inventory Conversion Period |
158.52 |
|
|
|
|
Inventory Turnover |
2.30 |
Satisfactory |
Industrial
Average |
2.90 |
|
Receivables Conversion Period |
84.02 |
|
|
|
|
Receivables Turnover |
4.34 |
Impressive |
Industrial
Average |
2.32 |
|
Payables Conversion Period |
210.86 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.34 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 decreased from 161 days at the
end of 2012 to 159 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 2.27 times in year 2012 to 2.3 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.5 times and 1.47
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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.