MIRA INFORM REPORT
|
Report No. : |
327145 |
|
Report Date : |
18.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
BEIJER B. GRIMM [THAILAND] LTD. |
|
|
|
|
Registered Office : |
7th Floor, Dr. Gerhard
Link Building, 88
Krungthepkreetha Road, Huamark, Bangkapi, Bangkok 10240 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
09.12.2010 |
|
|
|
|
Com. Reg. No.: |
0105553151561 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in importing and distributing various
kinds of cooling
and refrigeration system
products, which are
divided into 3 main
products as follows: ·
Cooling
and refrigeration equipment and parts,
such as compressors and
components, copper tubes,
heat exchanger, motor & transmission, dry
coolers, flow control,
control device, oil,
chemical and refrigeration solvent,
unit cooler &
refrigeration. ·
Industrial tools
for cooling and
refrigeration systems
“AIRCOOL” air conditioners |
|
|
|
|
No. of Employee : |
90 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
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|
|
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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 |
A2 |
|
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
BEIJER B. GRIMM [THAILAND] LTD.
SUMMARY
BUSINESS
ADDRESS : 7th FLOOR,
DR. GERHARD LINK BUILDING,
88
KRUNGTHEPKREETHA
ROAD,
HUAMARK,
BANGKAPI,
BANGKOK
10240, THAILAND
TELEPHONE : [66] 2762-7999,
2762-7910-23
FAX :
[66] 2762-7905,
2762-7901
E-MAIL
ADDRESS : ramida.r@beijerrefrithai.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2010
REGISTRATION
NO. : 0105553151561
TAX
ID NO. : 3034239811
CAPITAL REGISTERED : BHT. 75,000,000
CAPITAL PAID-UP : BHT.
75,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
SWEDISH :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
NIRUN LUMLERDLUKSANACHAI, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 90
LINES
OF BUSINESS : COOLING AND
REFRIGERATION SYSTEM
IMPORTER AND
DISTRIBUTOR
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 December 9,
2010 as a
private limited company
under the registered
name BEIJER B. GRIMM
[THAILAND] LTD., by Thai and
Swedish groups, with
the business objective
to import and
distribute cooling and
refrigeration system products.
It currently employs
approximately 90 staff.
The
subject’s registered address
is 7th Floor, Dr.
Gerhard Link Building,
88
Krungthepkreetha Rd.,
Huamark, Bangkapi, Bangkok 10240, and
this is the
subject’s current operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Enrique Ignacio Gibelli |
[x] |
Argentine |
48 |
|
Mr. Lars Jonas
Steen |
|
Swedish |
39 |
|
Mr. Teerapong Boonrodchoo |
|
Thai |
54 |
|
Ms. Duangchit Wipacharoenwong |
|
Thai |
49 |
|
Mr. Sitthidej Puttharee |
|
Thai |
53 |
|
Mr. Nirun Lumlerdluksanachai |
[x] |
Thai |
50 |
AUTHORIZED
PERSON
Any of the
mentioned directors [x]
can jointly sign
with anyone of
the rest directors
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Nirun Lumlerdluksanachai is
the Managing Director.
He is Thai
nationality with the
age of 50
years old.
Mr. Samran Parnpin is
the Sales & Marketing Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The subject
is engaged in importing
and distributing various kinds
of cooling and
refrigeration system
products, which are
divided into 3 main
products as follows:
·
Cooling
and refrigeration equipment and parts,
such as compressors and
components, copper tubes,
heat exchanger, motor & transmission, dry
coolers, flow control,
control device, oil,
chemical and refrigeration
solvent, unit cooler
& refrigeration.
·
Industrial tools
for cooling and
refrigeration systems
·
“AIRCOOL” air
conditioners
MAJOR BRANDS
“BITZER”, “ALFAL”,
“EMERSON”, “BRISTOL”, “AEROFLEX”,
“IMPERIAL”,
“CARRIER”, “SCI” and
etc.
PURCHASE
80%
of the products
is imported from
Sweden, France, U.S.A.,
Italy, Vietnam, Republic
of China and
Germany, the remaining
20% is purchased
from local suppliers.
MAJOR
SUPPLIERS
G & L
Beijer Ref AB : Sweden
Bitzer
GmbH. : Germany
Danfoss
[Thailand] Co., Ltd. : Thailand
Bristol
Compressor International Inc. : U.S.A.
SALES
100% of the
products is sold
locally by wholesale
to dealers, manufacturers
and
end-users.
MAJOR
CUSTOMERS
Srisuwan Systems [2002]
Co., Ltd.
Chaidumrong Intergroup Co.,
Ltd.
Air and Service
Center [2007] Limited
Partnership
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.
Imports are by
T/T.
BANKING
Bangkok
Bank Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
90 office staff
and sales staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Branches :
The
subject currently has
5 branches located
at the following:
Ramkhamhaeng
Branch:
343, 345, 347 Ramkhamhaeng
Rd., Huamark, Bangkapi,
Bangkok 10240.
Tel. [66]
2737-6530.
Bangbon
Branch:
53
Kanchanapisek Rd., Bangbon,
Bangkok 10510. Tel. [66]
2895-2734.
Prachachuen
Branch:
1163-1164
Prachacuuen Rd., Wongsawang,
Bangsue, Bangkok 10800.
Tel. [66]
2910-1673.
Romklao
Branch:
202
Romklao Rd., Klongsampravet, Ladkrabang,
Bangkok 10520. Tel. [66] 2737-6532.
Chiangmai
Branch
265
Moo 8, T. Nongkwai,
A. Hangdong, Chiangmai 50230.
Tel. [66] 53 442-773.
COMMENT
During
2013-2014, Thailand has
been adversely affected
by ongoing political
turmoil and at the
same time its
economy also experienced
a downturns growth, which
is reflected in lower
annual growth rate
forecasted by public
and private sector.
Nevertheless, the
subject’s business remains
promising.
FINANCIAL
INFORMATION
The
capital was registered at
Bht. 5,000,000 divided into 500,000
shares of Bht. 10 each with
fully paid.
On
January 10, 2011, the capital
was increased to Bht. 75,000,000 divided into 7,500,000 shares
of Bht. 10 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 29,
2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
G & L
Beijer Ref AB Nationality: Swedish Address : SE 211-20
Malmo, Sweden |
3,674,999 |
49.00 |
|
B. Grimm Joint Venture
Holding Co., Ltd. Nationality: Thai Address : 88
Krungthepkreetha Rd., Huamark,
Bangkapi, Bangkok |
3,374,998 |
45.00 |
|
Mr. Harald Link Nationality: Thai Address : 25
Soi Chidlom, Ploenchit
Rd., Lumpini,
Pathumwan, Bangkok |
450,000 |
6.00 |
|
Mr. Pier Olov Goran
Bratland Nationality: Swedish Address : Limhamn,
Sweden |
1 |
- |
|
Mr. Teerapong Boonrodchoo Nationality: Thai Address : 61/268
Moo 7, Bangchan,
Klongsamwa, Bangkok |
1 |
- |
|
Ms. Duangchit Wipacharoenwong Nationality: Thai Address : 306
Rajburana Rd., Rajburana,
Bangkok |
1 |
- |
Total Shareholders : 6
Share Structure [as
at April 29,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
3,825,000 |
51.00 |
|
Foreign - Swedish |
2 |
3,675,000 |
49.00 |
|
Total |
6 |
7,500,000 |
100.00 |
NAME
OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Chaisiri Ruengritchai No.
4526
Note
The 2014 financial
statement has not
yet available during
investigation.
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
34,007,397 |
48,084,689 |
27,251,510 |
|
Trade Accounts & Other Receivable |
160,365,839 |
170,584,963 |
128,419,154 |
|
Inventories |
176,414,114 |
197,525,772 |
156,831,481 |
|
Other Current Assets
|
1,280,194 |
2,226,970 |
611,831 |
|
|
|
|
|
|
Total Current Assets
|
372,067,544 |
418,422,394 |
313,113,976 |
|
Fixed Assets |
804,820 |
1,177,038 |
420,246 |
|
Intangible Assets |
3,736,131 |
6,102,851 |
7,927,938 |
|
Goodwill |
41,842,000 |
47,820,000 |
53,802,000 |
|
Deposit |
1,685,934 |
1,746,364 |
1,052,611 |
|
Total Assets |
420,136,429 |
475,268,647 |
376,316,771 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
20,000,000 |
60,000,000 |
10,000,000 |
|
Trade Accounts & Other
Payable |
66,697,026 |
78,026,696 |
70,421,324 |
|
Current Portion of
Long-term Loans |
25,200,000 |
- |
19,600,000 |
|
Accrued Income Tax |
5,363,222 |
15,950,758 |
8,926,339 |
|
Other Current Liabilities |
1,143,438 |
115,873 |
3,185,636 |
|
|
|
|
|
|
Total Current Liabilities |
118,403,686 |
154,093,327 |
112,133,299 |
|
Long-term Loan from Related
Company |
147,698,632 |
198,098,632 |
173,959,879 |
|
Employee Benefits Obligation |
3,099,562 |
2,559,160 |
575,426 |
|
Total Liabilities |
269,201,880 |
354,751,119 |
286,668,604 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, issued
and fully paid share
capital 7,500,000 shares |
75,000,000 |
75,000,000 |
75,000,000 |
|
|
|
|
|
|
Capital Paid |
75,000,000 |
75,000,000 |
75,000,000 |
|
Retained Earnings Unappropriated
|
75,934,549 |
45,517,528 |
14,648,167 |
|
Total Shareholders' Equity |
150,934,549 |
120,517,528 |
89,648,167 |
|
Total Liabilities & Shareholders' Equity |
420,136,429 |
475,268,647 |
376,316,771 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales Income |
776,391,089 |
782,819,064 |
644,646,812 |
|
Services Income |
- |
1,781,392 |
2,103,720 |
|
Other Income |
59,930 |
283,737 |
375,290 |
|
Total Revenues |
776,451,019 |
784,884,193 |
647,125,822 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
610,069,601 |
609,805,045 |
502,696,902 |
|
Cost of Services |
- |
1,260,325 |
1,565,682 |
|
Selling Expenses |
86,209,189 |
93,736,292 |
68,727,910 |
|
Administrative Expenses |
25,926,842 |
24,844,635 |
35,864,788 |
|
Total Expenses |
722,205,632 |
729,646,297 |
608,855,282 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income
Tax |
54,245,387 |
55,237,896 |
38,270,540 |
|
Financial Costs |
[13,677,148] |
[12,550,111] |
[8,213,716] |
|
|
|
|
|
|
Profit / [Loss] before Income
Tax |
40,568,239 |
42,687,785 |
30,056,824 |
|
Income Tax |
[10,151,218] |
[11,818,424] |
[14,367,925] |
|
|
|
|
|
|
Net Profit / [Loss] |
30,417,021 |
30,869,361 |
15,688,899 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
3.14 |
2.72 |
2.79 |
|
QUICK RATIO |
TIMES |
1.64 |
1.42 |
1.39 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
964.68 |
666.59 |
1,538.98 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.85 |
1.65 |
1.72 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
105.55 |
117.99 |
113.52 |
|
INVENTORY TURNOVER |
TIMES |
3.46 |
3.09 |
3.22 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
75.39 |
79.36 |
72.47 |
|
RECEIVABLES TURNOVER |
TIMES |
4.84 |
4.60 |
5.04 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
39.90 |
46.61 |
50.97 |
|
CASH CONVERSION CYCLE |
DAYS |
141.03 |
150.74 |
135.02 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.58 |
77.88 |
77.97 |
|
SELLING & ADMINISTRATION |
% |
14.44 |
15.11 |
16.17 |
|
INTEREST |
% |
1.76 |
1.60 |
1.27 |
|
GROSS PROFIT MARGIN |
% |
21.43 |
22.15 |
22.09 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
6.99 |
7.04 |
5.92 |
|
NET PROFIT MARGIN |
% |
3.92 |
3.93 |
2.43 |
|
RETURN ON EQUITY |
% |
20.15 |
25.61 |
17.50 |
|
RETURN ON ASSET |
% |
7.24 |
6.50 |
4.17 |
|
EARNING PER SHARE |
BAHT |
4.06 |
4.12 |
2.09 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.64 |
0.75 |
0.76 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.78 |
2.94 |
3.20 |
|
TIME INTEREST EARNED |
TIMES |
3.97 |
4.40 |
4.66 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(1.05) |
21.31 |
|
|
OPERATING PROFIT |
% |
(1.80) |
44.34 |
|
|
NET PROFIT |
% |
(1.47) |
96.76 |
|
|
FIXED ASSETS |
% |
(31.62) |
180.08 |
|
|
TOTAL ASSETS |
% |
(11.60) |
26.29 |
|
ANNUAL
GROWTH : RISKY
An annual sales growth is -1.05%. Turnover has decreased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
21.43 |
Deteriorated |
Industrial
Average |
43.19 |
|
Net Profit Margin |
3.92 |
Satisfactory |
Industrial
Average |
4.50 |
|
Return on Assets |
7.24 |
Impressive |
Industrial
Average |
7.04 |
|
Return on Equity |
20.15 |
Impressive |
Industrial
Average |
16.65 |
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 21.43%. 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 3.92%.
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. Return on Assets is 7.24%,
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 20.15%, 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.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
3.14 |
Impressive |
Industrial
Average |
1.63 |
|
Quick Ratio |
1.64 |
|
|
|
|
Cash Conversion Cycle |
141.03 |
|
|
|
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 3.14 times in 2013, increased from 2.72 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 1.64 times in 2013,
increased from 1.42 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 142 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.64 |
Acceptable |
Industrial
Average |
0.57 |
|
Debt to Equity Ratio |
1.78 |
Risky |
Industrial
Average |
1.32 |
|
Times Interest Earned |
3.97 |
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 3.97 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 0.64 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
964.68 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.85 |
Impressive |
Industrial
Average |
1.56 |
|
Inventory Conversion Period |
105.55 |
|
|
|
|
Inventory Turnover |
3.46 |
Satisfactory |
Industrial
Average |
3.70 |
|
Receivables Conversion Period |
75.39 |
|
|
|
|
Receivables Turnover |
4.84 |
Impressive |
Industrial
Average |
3.87 |
|
Payables Conversion Period |
39.90 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.84 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 118 days at the
end of 2012 to 106 days at the end of 2013. This represents a positive trend.
And Inventory turnover has increased from 3.09 times in year 2012 to 3.46 times
in year 2013.
The company's Total Asset Turnover is calculated as 1.85 times and 1.65
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 Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.11 |
|
|
1 |
Rs.100.32 |
|
Euro |
1 |
Rs.72.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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.