MIRA INFORM REPORT
|
Report No. : |
325791 |
|
Report Date : |
08.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NOVA INTER TECH CO., LTD. |
|
|
|
|
Registered Office : |
5/4
Moo 2, Soi
Wadsai, Petchkasem Road, T. Bangkaew, A. Nakornchaisri, Nakornpathom 73120 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.09.2000 |
|
|
|
|
Com. Reg. No.: |
0735543001421 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in textile printing service for textile industry. |
|
|
|
|
No. of Employees : |
80 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 achieved steady growth due largely to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. Unemployment, at less than 1% of the labor force, stands as one of the lowest levels in the world, which puts upward pressure on wages in some industries. Thailand also attracts nearly 2.5 million migrant workers from neighboring countries. 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 economy has weathered internal and external economic shocks in recent years. The global economic recession severely cut Thailand's exports, with most sectors experiencing double-digit drops. In late 2011 Thailand's recovery was interrupted by historic flooding in the industrial areas in Bangkok and its five surrounding provinces, crippling the manufacturing sector. The government approved flood mitigation projects worth $11.7 billion, which were started in 2012, to prevent similar economic damage, and an additional $75 billion for infrastructure over the following seven years. This was expected to lead to an economic upsurge but growth has remained slow, in part due to ongoing political unrest and resulting uncertainties. Spending on infrastructure will require re-approval once a new government is seated.
|
Source : CIA |
Company
name and address
NOVA INTER TECH
CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 5/4
MOO 2, SOI
WADSAI, PETCHKASEM ROAD,
T.
BANGKAEW, A. NAKORNCHAISRI,
NAKORNPATHOM 73120,
THAILAND
TELEPHONE : [66] 34
230-564, 34 339-120-2
FAX :
[66] 34
230-565
E-MAIL
ADDRESS : pichet@novaintertech.com
intertex@loxinfo.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2000
REGISTRATION
NO. : 0735543001421
TAX
ID NO. : 3701020810
CAPITAL REGISTERED : BHT. 10,000,000
CAPITAL PAID-UP : BHT.
10,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
GERMAN :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. THOMAS HEYM,
GERMAN
MANAGING DIRECTOR
NO.
OF STAFF : 80
LINES
OF BUSINESS : TEXTILE PRINTING
SERVICE
MANUFACTURER
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
September 6, 2000
as a private
limited company under
the registered name
NOVA INTER TECH
CO., LTD. by
Thai and German groups.
Its business objective
is to provide fabric printing service.
It currently employs approximately 80
staff.
The
subject’s registered address
was initially at
10/18 Moo 2,
Petchkasem Rd., T. Bangkaew,
A. Nakornchaisri,
Nakornpathom 73120.
On
August 29, 2011,
the subject’s registered
address was relocated
to 5/4 Moo
2, Soi Wadsai,
Petchkasem Road, T.
Bangkaew, A. Nakornchaisri, Nakornpathom
73120, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pichet Somsongsawad |
|
Thai |
44 |
|
Mr. Thomas Heym |
|
German |
54 |
|
Mr. Kesper Peter |
|
German |
- |
AUTHORIZED PERSON
Anyone of the above directors
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Thomas Heym is
the Managing Director.
He is German
nationality with the
age of 54
years old.
Mr. Pichet Songsermsawad is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 44
years old.
Mr. Justin Brent Anderson
is the General
Manager.
He is American
nationality.
BUSINESS OPERATIONS
The subject is
engaged in textile
printing service for
textile industry. Its
products have been
designed both by
the subject and
customers.
PURCHASE
100%
of printing materials
and supplies are
purchased from local
suppliers.
SERVICES
100% of the
products is served
locally to textile
manufacturers.
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 to 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.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
80 staff.
LOCATION DETAILS
The
premise is owned
for administrative office
and factory I at the
heading address. Premise
is located in
provincial, on the
outskirts of Bangkok.
Factory
II is located
at 10/18 Moo
2, Soi Wadsai,
Petchkasem Road, T. Bangkaew,
A. Nakornchaisri, Nakornpathom
73120.
COMMENT
Under
thoroughly professional leading company in
textile printing business, which
has established firm
confidence through operational
efficiency and technology, the subject
has experienced steady
growth and ongoing
development. Its products
have been highly
recognized among customers for
over decade.
However,
market slowdown has
seen since in
the past several
months and growth
is likely contracted
with slow consumption
from local market.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 6,000,000 divided into 60,000 shares of
Bht. 100 each with
fully paid.
On January
27, 2006, the
capital was increased to
Bht. 10,000,000 divided into
100,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kesper Peter Nationality: German Address : Germany |
25,000 |
25.00 |
|
Mr. Thomas Heym Nationality: German Address : 67/651
Moo 4, T. Thatamnak, A.
Nakornchaisri, Nakornpathom |
24,000 |
24.00 |
|
Mr. Pichet Somsongsawad Nationality: Thai Address : 39/12
Vorachak Rd., Thepsirin,
Pomprab,
Bangkok |
20,999 |
21.00 |
|
Mr. Vichai Somboonchokepisal Nationality: Thai Address : 565
Soi Petchkasem 51,
Laksong,
Bangkae, Bangkok |
12,000 |
12.00 |
|
Mr. Somchai Reungritsakul Nationality: Thai Address : 178/72 Soi Prachauthis 72, Prachauthis Rd.,
Thungkru, Bangkok |
5,000 |
5.00 |
|
|
|
|
|
Master Sarantorn Heym Nationality: Thai Address : 67/651
Moo 4, T. Thatamnak, A.
Nakornchaisri, Nakornpathom |
5,000 |
5.00 |
|
Ms. Natcha Heym Nationality: Thai Address : 67/651
Moo 4, T. Thatamnak, A.
Nakornchaisri, Nakornpathom |
5,000 |
5.00 |
|
Ms. Sukanya Chitngam Nationality: Thai Address : 99/1
Moo 2, T. Bangkhantaek, A. Muang,
Samutsongkram |
3,000 |
3.00 |
|
Mr. Therdsak Benjamas Nationality: Thai Address : 9/8
Moo 6, Khaophra,
Muang, Nakornnayok |
1 |
- |
Total Shareholders : 9
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
51,000 |
51.00 |
|
Foreign -German |
2 |
49,000 |
49.00 |
|
Total |
9 |
100,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Ms. Orapin Jaruthananon No. 9068
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 |
337,126.49 |
614,872.03 |
338,603.40 |
|
Short-term Investment |
- |
6,000,000.00 |
- |
|
Trade Accounts & Other Receivable |
28,649,283.59 |
35,205,107.36 |
30,670,397.70 |
|
Inventories |
53,452,593.69 |
47,184,928.66 |
36,316,500.68 |
|
Deposit Goods |
3,796,836.27 |
2,508,960.60 |
- |
|
Other Current Assets |
2,344,559.34 |
6,256,267.81 |
7,369,902.92 |
|
|
|
|
|
|
Total Current Assets
|
88,580,399.38 |
97,770,136.46 |
74,695,404.70 |
|
|
|
|
|
|
Cash at Bank pledged as a
Collateral |
6,489,914.69 |
481,045.93 |
472,552.68 |
|
Intangible Assets |
601,247.48 |
637,952.62 |
258,333.48 |
|
Fixed Assets |
26,224,254.20 |
24,992,182.60 |
26,207,927.49 |
|
Total Assets |
121,895,815.75 |
123,881,317.61 |
101,634,218.35 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft |
30,342,653.82 |
24,484,081.94 |
3,405,337.76 |
|
Trade Accounts & Other
Payable |
28,688,812.83 |
39,797,278.64 |
42,256,235.30 |
|
Accrued Income Tax |
437,451.85 |
- |
649,578.47 |
|
Current Portion of Hire-purchase Payable |
953,232.10 |
513,444.00 |
189,656.00 |
|
Current Portion of Financial Lease Contract Liabilities |
842,491.01 |
2,715,653.53 |
3,732,000.00 |
|
Other Current Liabilities |
142,765.97 |
112,901.30 |
148,060.95 |
|
|
|
|
|
|
Total Current Liabilities |
61,407,407.58 |
67,623,359.41 |
50,380,868.48 |
|
Long-term Loan from Financial Institutions, Net |
30,040.75 |
864,573.20 |
2,310,330.39 |
|
Hire-purchase Payable, net of Current Portion |
2,175,435.90 |
1,181,691.00 |
199,075.00 |
|
Long-term Loan from Related Person |
41,342,902.54 |
38,249,720.33 |
26,770,942.01 |
|
Total Liabilities |
104,955,786.77 |
107,919,343.94 |
79,661,215.88 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 100,000 shares |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
|
|
|
|
|
Capital Paid |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
Retained Earning-
Unappropriated |
6,940,028.98 |
5,961,973.67 |
11,973,002.47 |
|
Total Shareholders' Equity |
16,940,028.98 |
15,961,973.67 |
21,973,002.47 |
|
Total Liabilities &
Shareholders' Equity |
121,895,815.75 |
123,881,317.61 |
101,634,218.35 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
155,950,107.95 |
137,365,283.60 |
142,771,948.87 |
|
Services |
18,308,375.64 |
26,088,736.14 |
- |
|
Rental Income |
- |
120,000.00 |
360,000.00 |
|
Other Income |
528,088.23 |
1,668,211.70 |
332,444.94 |
|
Total Revenues |
174,786,571.82 |
165,242,231.44 |
143,464,393.81 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
129,045,863.32 |
124,195,420.29 |
101,018,854.57 |
|
Selling Expenses |
7,398,098.10 |
11,230,270.12 |
7,871,920.01 |
|
Administrative Expenses |
33,492,866.36 |
33,561,536.62 |
29,505,539.35 |
|
Total Expenses |
169,936,827.78 |
168,987,227.03 |
138,396,313.93 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income Tax |
4,849,744.04 |
[3,744,995.59] |
5,068,079.88 |
|
Financial Cost |
[2,616,983.26] |
[2,266,033.21] |
[1,080,354.82] |
|
Income Tax |
[1,264,705.47] |
- |
[2,041,311.04] |
|
|
|
|
|
|
Net Profit / [Loss] |
978,055.31 |
[6,011,028.80] |
1,946,414.02 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.44 |
1.45 |
1.48 |
|
QUICK RATIO |
TIMES |
0.47 |
0.62 |
0.62 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.64 |
6.55 |
5.46 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.43 |
1.32 |
1.41 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
151.19 |
138.67 |
131.22 |
|
INVENTORY TURNOVER |
TIMES |
2.41 |
2.63 |
2.78 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
60.01 |
78.56 |
78.21 |
|
RECEIVABLES TURNOVER |
TIMES |
6.08 |
4.65 |
4.67 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
81.14 |
116.96 |
152.68 |
|
CASH CONVERSION CYCLE |
DAYS |
130.05 |
100.27 |
56.75 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
74.05 |
75.93 |
70.58 |
|
SELLING & ADMINISTRATION |
% |
23.47 |
27.38 |
26.11 |
|
INTEREST |
% |
1.50 |
1.39 |
0.75 |
|
GROSS PROFIT MARGIN |
% |
26.25 |
25.09 |
29.65 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.78 |
(2.29) |
3.54 |
|
NET PROFIT MARGIN |
% |
0.56 |
(3.67) |
1.36 |
|
RETURN ON EQUITY |
% |
5.77 |
(37.66) |
8.86 |
|
RETURN ON ASSET |
% |
0.80 |
(4.85) |
1.92 |
|
EARNING PER SHARE |
BAHT |
9.78 |
(60.11) |
19.46 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.86 |
0.87 |
0.78 |
|
DEBT TO EQUITY RATIO |
TIMES |
6.20 |
6.76 |
3.63 |
|
TIME INTEREST EARNED |
TIMES |
1.85 |
(1.65) |
4.69 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
6.53 |
14.28 |
|
|
OPERATING PROFIT |
% |
(229.50) |
(173.89) |
|
|
NET PROFIT |
% |
116.27 |
(408.83) |
|
|
FIXED ASSETS |
% |
4.93 |
(4.64) |
|
|
TOTAL ASSETS |
% |
(1.60) |
21.89 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 6.53%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
26.25 |
Satisfactory |
Industrial
Average |
33.69 |
|
Net Profit Margin |
0.56 |
Deteriorated |
Industrial
Average |
2.04 |
|
Return on Assets |
0.80 |
Deteriorated |
Industrial
Average |
3.45 |
|
Return on Equity |
5.77 |
Acceptable |
Industrial
Average |
8.16 |
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 26.25%. 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 0.56%.
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 5.77%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.44 |
Satisfactory |
Industrial
Average |
1.59 |
|
Quick Ratio |
0.47 |
|
|
|
|
Cash Conversion Cycle |
130.05 |
|
|
|
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 1.44 times in 2013, decreased from 1.45 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 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 0.47 times in 2013,
decreased from 0.62 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 131 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.86 |
Acceptable |
Industrial Average |
0.56 |
|
Debt to Equity Ratio |
6.20 |
Risky |
Industrial
Average |
1.27 |
|
Times Interest Earned |
1.85 |
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 1.86 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 0.86 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
6.64 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.43 |
Satisfactory |
Industrial
Average |
1.69 |
|
Inventory Conversion Period |
151.19 |
|
|
|
|
Inventory Turnover |
2.41 |
Deteriorated |
Industrial
Average |
4.95 |
|
Receivables Conversion Period |
60.01 |
|
|
|
|
Receivables Turnover |
6.08 |
Impressive |
Industrial
Average |
3.22 |
|
Payables Conversion Period |
81.14 |
|
|
|
The company's Account Receivable Ratio is calculated as 6.08 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 139 days at the
end of 2012 to 151 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 2.63 times in year 2012 to 2.41 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.43 times and 1.32
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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.90 |
|
|
1 |
Rs.97.97 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.