MIRA INFORM REPORT
|
Report No. : |
326831 |
|
Report Date : |
16.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
LAB TECH ENGINEERING CO., LTD. |
|
|
|
|
Registered Office : |
818 Moo 4, Bangpoo Industrial Estate, Soi 14b, Sukhumvit Road, T. Praksa, A. Muang, Samutprakarn 10280 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Year of Establishment : |
1987 |
|
|
|
|
Com. Reg. No.: |
0105530019519 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in manufacturing
distributing and exporting
of scientific & laboratory
equipments such as
scientific two roll
mills, scientific hydraulic
presses, single screw extruders, twin screw extruders, flat
film and sheet
chill roll lines,
combi-calendaring & chill
roll lines and
single layer film
blowing lines, as
well as scientific
& laboratory tools
and pilot plant
equipments for plastic
and rubber industries |
|
|
|
|
No. of Employee : |
360 |
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 : |
Good |
|
Payment Behaviour : |
Regular |
|
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 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
LAB TECH
ENGINEERING CO., LTD.
SUMMARY
BUSINESS ADDRESS : 818
MOO 4, BANGPOO
INDUSTRIAL ESTATE,
SOI 14B,
SUKHUMVIT ROAD, T. PRAKSA,
A.
MUANG,
SAMUTPRAKARN 10280, THAILAND
TELEPHONE : [66]
2709-6959
FAX : [66] 2710-6488-9
E-MAIL ADDRESS : labtech@labtechengineering.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1987
REGISTRATION NO. : 0105530019519
TAX
ID NO. : 3101444575
CAPITAL
REGISTERED : BHT.
4,000,000
CAPITAL
PAID-UP : BHT.
4,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
SWEDISH :
49.00%
FISCAL
YEAR CLOSING DATE : MARCH 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PETER JURGENSEN, SWEDISH
MANAGING DIRECTOR
NO. OF
STAFF : 360
LINES
OF BUSINESS : SCIENTIFIC &
LABORATORY EQUIPMENTS AND
RELATED PRODUCTS
MANUFACTURER, IMPORTER,
DISTRIBUTOR &
EXPORTER
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 23, 1987 as
a private limited
company under the
registered name LAB
TECH ENGINEERING CO., LTD., by
Thai and Swedish
groups, in order
to manufacture, import
and distribute scientific
& laboratory equipments
and related products
for plastic and
rubber industries of
domestic and overseas
markets. It currently
employs approximately 360
staff.
The subject’s registered
address was initially
at 31/2 Rama 2
Rd., Chongnonsee, Yannawa,
Bangkok 10120.
In 2012, the subject’s
registered address was
relocated to 818
Moo 4, Bangpoo
Industrial Estate, Soi 14B,
Sukhumvit Road, T. Praksa,
A. Muang, Samutprakarn 10280, and
this is the
subject’s current operation
address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Peter Jurgensen |
|
Swedish |
76 |
|
Mr. Pornchai Sinsukudomchai |
|
Thai |
53 |
|
Ms. Chittima Ungpanich |
|
Thai |
60 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Peter Jurgensen
is the Managing
Director.
He is Swedish
nationality with the
age of 76 years
old.
Mr. Pornchai Sinsukudomchai is
the General Manager.
He is Thai
nationality with the
age of 53 years
old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
distributing and exporting
of scientific & laboratory
equipments such as
scientific two roll
mills, scientific hydraulic
presses, single screw extruders, twin screw extruders, flat
film and
sheet chill roll
lines, combi-calendaring &
chill roll lines
and single layer
film blowing lines,
as well as
scientific & laboratory
tools and pilot
plant equipments for
plastic and rubber
industries.
The subject is
also importer, distributor
and re-exporter of
the products.
IMPORT
Raw materials and
finished products are purchased from suppliers both
domestic and overseas
mainly from Sweden, Germany,
United States of
America, Republic of
China, Taiwan and
India.
MAJOR SUPPLIERS
AWI Maskin AB : Sweden
R.V.H. Co., Ltd. : Thailand
Unimark Co., Ltd. : India
SALES [LOCAL]
The products are
sold to local
customers in plastic
and rubber businesses.
EXPORT
The products are
exported and re-exported
to Malaysia, India,
Indonesia, Vietnam, Malaysia,
U.S.A. and European
countries.
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.
SUBSIDIARY AND
AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
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 are against
L/C at sight
& T/T.
BANKING
Bank of Ayudhya
Public Co., Ltd.
[Head Office : 1222 Rama
3 Rd., Bangpongpang,
Yannawa, Bangkok 10120]
Bangkok Bank Public
Co., Ltd.
[Head Office : 333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
EMPLOYMENT
The subject employs
approximately 360 staff.
[office and sales staff]
LOCATION DETAILS
The premise is
rented for administrative office
and factory at
the heading address.
Premise is located
in provincial/industrial area.
COMMENT
At present demand of plastic and
rubber products has significantly increased the productions from
plastic and rubber industries.
The subject has high potential due to the country’s high processing technology
which has already served the huge market of various industries such as
automobile, electrical products, molds, plastic and rubber
products, and they
all have high
growth prospect as well.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
The capital was
increased later as
follows :
Bht. 2,000,000
on August 6,
2003
Bht. 4,000,000
on March 24,
2008
The latest registered
capital was increased
to Bht. 4,000,000
divided into 40,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at July
28, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Peter Jurgensen Nationality: Swedish Address : 1285/24
Sukhumvit 101/1 Rd.,
Bangchak,
Prakanong, Bangkok 10260 |
19,600 |
49.00 |
|
Ms. Chittima Ungpanich Nationality: Thai Address : 1285/24
Sukhumvit 101/1 Rd.,
Bangchak,
Prakanong, Bangkok 10260 |
14,398 |
35.99 |
|
Mr. Pornchai Sinsukudomchai Nationality: Thai Address : 47/156
Moo 2, Bangpood, Pakkred,
Nonthaburi 11120 |
4,999 |
12.50 |
|
Ms. Piriporn Romayavej
Nationality: Thai Address : 365/7
Amnuaysongkram Rd., Thanon
Nakornchaisri, Dusit, Bangkok 10300 |
1,000 |
2.50 |
|
Mr. Nathapol Ungpanich Nationality: Thai Address : 1285/24 Sukhumvit
101/1 Rd., Bangchak,
Prakanong, Bangkok 10260 |
1 |
|
|
Ms. Thitinant Rerk-asa Nationality: Thai Address : 47/156
Moo 2, Bangpood, Pakkred,
Nonthaburi 11120 |
1 |
=
0.01 |
|
Mrs. Chaweewan Wattanakijsiri Nationality: Thai Address : 219/15
Sukhumvit 63 Rd.,
Klongton,
Prakanong, Bangkok 10110 |
1 |
|
Total Shareholders
: 7
Share Structure [as
at July 28,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
20,400 |
51.00 |
|
Foreign - Swedish |
1 |
19,600 |
49.00 |
|
Total |
7 |
40,000 |
100.00 |
NAME
OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Mr. Vichai Vacharawatanakul No.
3055
BALANCE
SHEET [BAHT]
The latest financial figures published
as at March
31, 2014, 2013
& 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
60,053,361.58 |
28,650,361.14 |
19,771,471.76 |
|
Short-term Investment |
9,585,388.26 |
3,348,360.11 |
2,371,349.74 |
|
Trade Accounts &
Other Receivable |
80,921,158.99 |
68,661,388.78 |
71,540,297.75 |
|
Inventories |
238,524,762.60 |
180,555,843.43 |
161,670,198.61 |
|
Other Current Assets
|
8,561,706.10 |
8,925,044.72 |
9,674,816.88 |
|
|
|
|
|
|
Total Current Assets
|
397,646,377.53 |
290,140,998.18 |
265,028,134.74 |
|
|
|
|
|
|
Investment in Subsidiaries |
1,581,613.80 |
1,581,613.80 |
1,581,613.80 |
|
Fixed Assets |
64,609,258.67 |
59,565,402.78 |
65,213,755.86 |
|
Intangible Assets |
1,785,509.12 |
1,367,437.55 |
1,451,774.58 |
|
Other Non - current Assets |
7,883,759.94 |
12,388,323.31 |
8,295,960.18 |
|
Total Assets |
473,506,519.06 |
365,043,775.62 |
341,571,239.16 |
LIABILITIES
& SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
11,699,721.57 |
- |
- |
|
Trade Accounts & Other
Payable |
127,058,545.05 |
71,774,168.78 |
71,370,491.77 |
|
Current Portion of
Lease Contract Liabilities |
471,649.92 |
- |
122,812.50 |
|
Accrued Income Tax |
468,931.66 |
3,557,386.29 |
8,655,825.54 |
|
Deferred Withholding Tax |
477,698.78 |
277,523.99 |
401,941.52 |
|
|
|
|
|
|
Total Current Liabilities |
140,176,546.98 |
75,609,079.06 |
80,551,071.33 |
|
Long-term Loan |
108,986,000.00 |
108,986,000.00 |
108,986,000.00 |
|
Lease Contract Liabilities, Net |
895,204.33 |
- |
- |
|
Total Liabilities |
250,057,751.31 |
184,595,079.06 |
189,537,071.33 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 40,000 shares |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
|
|
|
|
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earnings: Appropriated for statutory reserve |
400,000.00 |
400,000.00 |
400,000.00 |
|
Unappropriated |
219,048,767.75 |
176,048,696.56 |
147,634,167.83 |
|
Total Shareholders' Equity |
223,448,767.75 |
180,448,696.56 |
152,034,167.83 |
|
Total Liabilities &
Shareholders' Equity |
473,506,519.06 |
365,043,775.62 |
341,571,239.16 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales & Services Income |
442,419,438.76 |
418,209,828.87 |
468,556,782.60 |
|
Other Income |
2,252,177.33 |
2,643,312.83 |
3,368,873.26 |
|
Total Revenues |
444,671,616.09 |
420,853,141.70 |
471,925,655.86 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
285,732,484.66 |
268,137,731.44 |
337,532,976.46 |
|
Selling Expenses |
51,481,597.17 |
33,483,413.50 |
34,520,813.24 |
|
Administrative Expenses |
56,633,748.93 |
55,820,855.69 |
46,375,395.24 |
|
Total Expenses |
393,847,830.76 |
357,442,000.63 |
418,429,184.94 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
50,823,785.33 |
63,411,141.07 |
53,496,470.92 |
|
Financial Cost - Interest
expenses |
[6,608,717.72] |
[6,575,627.35] |
[6,591,509.78] |
|
Profit / [Loss] before Income
Tax |
44,215,067.61 |
56,835,513.72 |
46,904,961.14 |
|
Income Tax |
[1,214,996.42] |
[8,420,984.99] |
[13,845,153.84] |
|
|
|
|
|
|
Net Profit / [Loss] |
43,000,071.19 |
48,414,528.73 |
33,059,807.30 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.84 |
3.84 |
3.29 |
|
QUICK RATIO |
TIMES |
1.07 |
1.33 |
1.16 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
6.85 |
7.02 |
7.18 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.93 |
1.15 |
1.37 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
304.70 |
245.78 |
174.83 |
|
INVENTORY TURNOVER |
TIMES |
1.20 |
1.49 |
2.09 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
66.76 |
59.93 |
55.73 |
|
RECEIVABLES TURNOVER |
TIMES |
5.47 |
6.09 |
6.55 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
162.31 |
97.70 |
77.18 |
|
CASH CONVERSION CYCLE |
DAYS |
209.15 |
208.00 |
153.38 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
64.58 |
64.12 |
72.04 |
|
SELLING & ADMINISTRATION |
% |
24.44 |
21.35 |
17.26 |
|
INTEREST |
% |
1.49 |
1.57 |
1.41 |
|
GROSS PROFIT MARGIN |
% |
35.92 |
36.52 |
28.68 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
11.49 |
15.16 |
11.42 |
|
NET PROFIT MARGIN |
% |
9.72 |
11.58 |
7.06 |
|
RETURN ON EQUITY |
% |
19.24 |
26.83 |
21.74 |
|
RETURN ON ASSET |
% |
9.08 |
13.26 |
9.68 |
|
EARNING PER SHARE |
BAHT |
1,075.00 |
1,210.36 |
826.50 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.53 |
0.51 |
0.55 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.12 |
1.02 |
1.25 |
|
TIME INTEREST EARNED |
TIMES |
7.69 |
9.64 |
8.12 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
5.79 |
(10.75) |
|
|
OPERATING PROFIT |
% |
(19.85) |
18.53 |
|
|
NET PROFIT |
% |
(11.18) |
46.45 |
|
|
FIXED ASSETS |
% |
8.47 |
(8.66) |
|
|
TOTAL ASSETS |
% |
29.71 |
6.87 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 5.79%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
35.92 |
Satisfactory |
Industrial
Average |
37.84 |
|
Net Profit Margin |
9.72 |
Impressive |
Industrial
Average |
2.70 |
|
Return on Assets |
9.08 |
Impressive |
Industrial
Average |
3.22 |
|
Return on Equity |
19.24 |
Impressive |
Industrial
Average |
6.76 |
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 35.92%. 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 9.72%, 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 9.08%, 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 19.24%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profits 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
2.84 |
Impressive |
Industrial
Average |
1.74 |
|
Quick Ratio |
1.07 |
|
|
|
|
Cash Conversion Cycle |
209.15 |
|
|
|
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 2.84 times in 2014, decreased from 3.84 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 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 1.07 times in 2014,
decreased from 1.33 times, although excluding inventory so the company still
have good short-term financial strength.
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 210 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.53 |
Impressive |
Industrial
Average |
0.53 |
|
Debt to Equity Ratio |
1.12 |
Acceptable |
Industrial
Average |
1.13 |
|
Times Interest Earned |
7.69 |
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 7.7 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 0.53 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
6.85 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.93 |
Satisfactory |
Industrial
Average |
1.19 |
|
Inventory Conversion Period |
304.70 |
|
|
|
|
Inventory Turnover |
1.20 |
Deteriorated |
Industrial
Average |
2.48 |
|
Receivables Conversion Period |
66.76 |
|
|
|
|
Receivables Turnover |
5.47 |
Impressive |
Industrial
Average |
3.04 |
|
Payables Conversion Period |
162.31 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.47 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 246 days at the
end of 2013 to 305 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 1.49 times in year 2013 to 1.2 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.93 times and 1.15
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.64.09 |
|
|
1 |
Rs.99.57 |
|
Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.