MIRA INFORM REPORT
|
Report No. : |
327417 |
|
Report Date : |
22.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
AKTIO [THAILAND] CO., LTD. |
|
|
|
|
Registered Office : |
88/8 Moo 3, Bangna-Trad Road,
K.M. 33, Bangsaothong, Samutprakarn 10540 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
30.07.1991 |
|
|
|
|
Com. Reg. No.: |
0105534071337 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in importing,
distributing and renting
service of new
and used construction machinery
and factory equipments,
such as crane,
forklift, gallon mining
tank, generator, compressor,
welder, heavy equipment,
lighting equipment, navigator
directional drill, concrete
pump, pipe jacking
machine, spare parts,
hydraulic excavator, road
making equipment |
|
|
|
|
No. of Employees : |
258 |
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 |
|
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
AKTIO [THAILAND]
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 88/8 MOO 3,
BANGNA-TRAD ROAD, K.M.
33,
BANGSAOTHONG, SAMUTPRAKARN
10540,
THAILAND
TELEPHONE : [66] 2338-6700
FAX : [66] 2338-6710,
2338-6713
E-MAIL ADDRESS : sales@aktio.co.th
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1991
REGISTRATION NO. : 0105534071337
TAX ID NO. : 3101997668
CAPITAL REGISTERED : BHT.
350,000,000
CAPITAL PAID-UP : BHT.
350,000,000
SHAREHOLDER’S PROPORTION : JAPANESE :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR. TOSHIYUKI TAKAHASHI,
JAPANESE
PRESIDENT
NO. OF STAFF : 258
LINES OF BUSINESS : CONSTRUCTION MACHINERY
& EQUIPMENT
IMPORTER, DISTRIBUTOR
& SERVICE PROVIDER
|
|
|
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 July
30, 1991 as
a private limited
company under the
originally registered name “Thai Tec
Rental Company Limited”
by Japanese group. On
April 1, 2013,
its registered name
was changed to
AKTIO [THAILAND] CO.,
LTD. Its business
objective to supply
products and services
wide range of
construction machinery and
factory equipment. It
currently employs 258
staff.
The subject’s registered address is 88/8 Moo 3, Bangna-Trad Road, K.M.
33, Bangsaothong, Samutprakarn
10540, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Toshiyuki Takahashi |
[x] |
Japanese |
63 |
|
Mr. Mitsuo Konuma |
|
Japanese |
58 |
|
Mr. Keiichi Kohara |
|
Japanese |
67 |
|
Mr. Boonnak Kietburanakul |
|
Thai |
69 |
|
Mr. Yasushi Hoshino |
|
Japanese |
54 |
|
Mr. Takeshi Oda |
|
Japanese |
43 |
|
Mr. Toyokazu Menda |
|
Japanese |
44 |
AUTHORIZED PERSON
The mentioned director [x]
signs on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Toshiyuki Takahashi is
the President.
He is Japanese
nationality with the
age of 63 years
old.
Mr. Yasushi Hoshino is
the Vice President.
He is Japanese
nationality with the
age of 54
years old.
Mr. Boonnak Kietburanakul is
the General Manager [Administration].
He is Thai
nationality with the age
of 69 years
old.
BUSINESS OPERATIONS
The subject is
engaged in importing,
distributing and renting
service of new
and used construction
machinery and factory
equipments, such as
crane, forklift, gallon
mining tank, generator,
compressor, welder, heavy
equipment, lighting equipment,
navigator directional drill,
concrete pump, pipe
jacking machine, spare
parts, hydraulic excavator,
road making equipment.
MAJOR BRAND
“SAKAI”
PURCHASE
Most of its
products are imported
from Japan, the
remaining is purchased
from local supplierS.
MAJOR SUPPLIER
Aktio Corporation : Japan
SALES
100% of the
products is sold
and serviced locally
to construction contractors
and
end-users.
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
L/C at sight
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
Bank of Tokyo-Mitsubishi UFJ
Ltd.
[Bangkok Office, 54
North Sathorn Road,
Silom, Bangrak, Bangkok]
EMPLOYMENT
The subject currently
employs 258 staff.
LOCATION DETAILS
The premise is
owned for administrative office
at the heading
address. Premise is
located in provincial,
the outskirts of
Bangkok.
Branches/warehouses :
19/2 Sukhumvit Road,
T. Noenphra, A. Muang, Rayong
21150.
49/41 Moo 5, T.
Thungsukhla, A. Sriracha, Chonburi
20230.
88/8 Moo 6,
Phaholyothin Road, T. Chiangraknoi, A. Bangpa-in,
Ayutthaya 13180.
88/8 Moo 3, T.
Bo-win, A. Sriracha, Chonburi
20230.
3320/8 Mitraphap Road,
T. Naimuang, A. Muang, Nakornratchasima 30000.
COMMENT
The subject had
strong business performance in
the previous years.
However, economy slowdown
in accordance with
slow domestic industrial
growth has caused
to decrease subject’s
sales, as well
as, the impact
of slow spending
and delay of
industrial expansion would
pressure subject’s performance
this year.
FINANCIAL INFORMATION
The capital was
registered at Bht. 10,000,000 divided
into 10,000 shares of Bht.
1,000 each with
fully paid.
The capital was
increased and decreased
later as follows:
Bht. 200,000,000
on March 11,
1998
Bht. 366,004,000
on March 28,
2003
Bht. 250,000,000
on February 6,
2004 [decreased]
Bht. 350,000,000
on May 21,
2004
The latest registered
capital was increased
to Bht. 350,000,000
divided into 350,000
shares of Bht. 1,000
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 24,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Aktio Corporation Nationality: Japanese Address : 3-12-2
Asahi Building, Nihonbashi,
Chuo-ku, Tokyo, Japan |
349,994 |
99.99 |
|
Mr. Mitsuo Konuma Nationality: Japanese Address : 3-12-2
Asahi Building, Nihonbashi,
Chuo-ku, Tokyo,
Japan |
1 |
|
|
Mr. Yoshiharu Ishida Nationality: Japanese Address : 3-12-2
Asahi Building, Nihonbashi,
Chuo-ku, Tokyo, Japan |
1 |
|
|
Mr. Keichi Kohara Nationality: Japanese Address : 3-12-2
Asahi Building, Nihonbashi,
Chuo-ku, Tokyo, Japan |
1 |
= 0.01 |
|
Mr. Toshiyuki Takahashi Nationality: Japanese Address : 3-12-2
Asahi Building, Nihonbashi,
Chuo-ku, Tokyo,
Japan |
1 |
|
|
Mr. Boonnak Kietburanakul Nationality: Thai Address : 101
Chokechai 4 Road,
Ladprao,
Bangkok |
1 |
|
|
Mr. Yasushi Hoshino Nationality: Japanese Address : 88/8
Moo 3, Bangna-Trad Road,
Bangsaothong, Samutprakarn |
1 |
|
Total Shareholders : 7
Share Structure [as
at April 24,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
1 |
- |
|
Foreign - Japanese |
6 |
349,999 |
100.00 |
|
Total |
7 |
350,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Wallop Wilaiworawit No.
6797
BALANCE SHEET
[BAHT]
The latest financial figures published
as at December 31,
2014, 2013 &
2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 [Adjusted] |
|
|
|
|
|
|
Cash and Cash Equivalents |
19,173,877 |
32,796,529 |
15,349,549 |
|
Trade Accounts &
Other Receivable |
145,152,385 |
152,232,246 |
138,732,703 |
|
Withholding Income Tax |
14,040,803 |
- |
- |
|
Short-term Loan to Related Person |
2,165,399 |
1,364,522 |
1,065,382 |
|
Inventories |
88,683,329 |
179,901,752 |
222,732,441 |
|
Other Current Assets
|
6,306,572 |
6,367,420 |
1,732,320 |
|
|
|
|
|
|
Total Current Assets
|
275,522,365 |
372,662,469 |
379,612,395 |
|
Leased Assets in
Joint Venture |
10,231,090 |
10,247,547 |
12,847,933 |
|
Fixed Assets |
|
|
|
|
Building & equipment
- are
used |
51,804,048 |
60,355,384 |
39,165,040 |
|
Machinery & equipment -
are available for rent |
521,277,703 |
529,348,963 |
365,599,369 |
|
Deferred Leasehold |
16,824,774 |
17,525,470 |
21,424,247 |
|
Intangible Assets |
3,150,086 |
5,316,664 |
2,121,518 |
|
Other Non - current Assets |
724,794 |
793,002 |
812,832 |
|
Total Assets |
879,534,860 |
996,249,499 |
821,583,334 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 [Adjusted] |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
246,000,000 |
401,000,000 |
309,000,000 |
|
Trade Accounts & Other
Payable |
40,856,919 |
51,688,915 |
55,444,774 |
|
Current Portion of
Financial Lease Contract Liabilities |
790,128 |
887,934 |
519,354 |
|
Accrued Income Tax |
- |
890,193 |
7,411,418 |
|
Deposit & Guarantee |
15,982,005 |
13,705,224 |
11,411,061 |
|
Other Current Liabilities |
7,356,829 |
7,376,789 |
7,147,543 |
|
|
|
|
|
|
Total Current Liabilities |
310,985,881 |
475,549,055 |
390,934,150 |
|
Financial Lease Contract Liabilities |
187,861 |
977,989 |
979,836 |
|
Employee Benefits Obligation |
10,817,867 |
10,093,865 |
8,915,534 |
|
Total Liabilities |
321,991,609 |
486,620,909 |
400,829,520 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, issued
and fully paid share
capital 350,000 shares |
350,000,000 |
350,000,000 |
350,000,000 |
|
|
|
|
|
|
Capital Paid |
350,000,000 |
350,000,000 |
350,000,000 |
|
Retained Earning Unappropriated |
207,543,251 |
159,628,590 |
70,753,814 |
|
Total Shareholders' Equity |
557,543,251 |
509,628,590 |
420,753,814 |
|
Total Liabilities & Shareholders' Equity |
879,534,860 |
996,249,499 |
821,583,334 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 [Adjusted] |
|
|
|
|
|
|
Sales Income |
311,463,958 |
394,353,314 |
322,482,710 |
|
Rental Income Received & Related Services |
491,586,844 |
476,081,981 |
432,521,916 |
|
Gain on Exchange Rate |
3,099,389 |
7,146,466 |
6,911,515 |
|
Gain on Disposal of Assets |
90,352 |
4,032,599 |
497,545 |
|
Other Income |
8,143,652 |
11,858,183 |
2,279,013 |
|
Total Revenues |
814,384,195 |
893,472,543 |
764,692,699 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
246,749,144 |
314,946,708 |
256,252,566 |
|
Cost of Rental & Related Services |
365,463,362 |
292,666,747 |
229,789,376 |
|
Selling Expenses |
81,403,575 |
87,743,705 |
92,772,389 |
|
Administrative Expenses |
55,561,462 |
72,425,763 |
41,104,541 |
|
Total Expenses |
749,177,543 |
767,782,923 |
619,918,872 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
65,206,652 |
125,689,620 |
144,773,827 |
|
Financial Cost |
[8,286,546] |
[10,296,181] |
[9,213,799] |
|
Profit before Income
Tax |
56,920,106 |
115,393,439 |
135,560,028 |
|
Income Tax |
[9,005,445] |
[26,518,663] |
[34,516,950] |
|
|
|
|
|
|
Net Profit / [Loss] |
47,914,661 |
88,874,776 |
101,043,078 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.89 |
0.78 |
0.97 |
|
QUICK RATIO |
TIMES |
0.58 |
0.39 |
0.40 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.40 |
1.48 |
1.87 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.91 |
0.87 |
0.92 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
52.87 |
108.07 |
167.26 |
|
INVENTORY TURNOVER |
TIMES |
6.90 |
3.38 |
2.18 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
65.97 |
63.84 |
67.07 |
|
RECEIVABLES TURNOVER |
TIMES |
5.53 |
5.72 |
5.44 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
24.36 |
31.05 |
41.64 |
|
CASH CONVERSION CYCLE |
DAYS |
94.49 |
140.85 |
192.70 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
76.24 |
69.81 |
64.38 |
|
SELLING & ADMINISTRATION |
% |
17.06 |
18.40 |
17.73 |
|
INTEREST |
% |
1.03 |
1.18 |
1.22 |
|
GROSS PROFIT MARGIN |
% |
25.18 |
32.84 |
36.91 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
8.12 |
14.44 |
19.18 |
|
NET PROFIT MARGIN |
% |
5.97 |
10.21 |
13.38 |
|
RETURN ON EQUITY |
% |
8.59 |
17.44 |
24.01 |
|
RETURN ON ASSET |
% |
5.45 |
8.92 |
12.30 |
|
EARNING PER SHARE |
BAHT |
136.90 |
253.93 |
288.69 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.37 |
0.49 |
0.49 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.58 |
0.95 |
0.95 |
|
TIME INTEREST EARNED |
TIMES |
7.87 |
12.21 |
15.71 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(7.74) |
15.29 |
|
|
OPERATING PROFIT |
% |
(48.12) |
(13.18) |
|
|
NET PROFIT |
% |
(46.09) |
(12.04) |
|
|
FIXED ASSETS |
% |
(2.82) |
45.69 |
|
|
TOTAL ASSETS |
% |
(11.72) |
21.26 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -7.74%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
25.18 |
Impressive |
Industrial Average |
12.65 |
|
Net Profit Margin |
5.97 |
Satisfactory |
Industrial Average |
6.80 |
|
Return on Assets |
5.45 |
Deteriorated |
Industrial Average |
11.65 |
|
Return on Equity |
8.59 |
Deteriorated |
Industrial Average |
27.49 |
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 25.18%. When
compared with the industry average, the ratio of the company was higher,
indicated that company was more profitable than the same industry.
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 5.97%.
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 5.45%.
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 8.59%.
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 |
0.89 |
Risky |
Industrial Average |
1.51 |
|
Quick Ratio |
0.58 |
|
|
|
|
Cash Conversion Cycle |
94.49 |
|
|
|
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 0.89 times in 2014, increased from 0.78 times, then the company may
have problems meeting its short-term obligations. 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 0.58 times in 2014,
decreased from 0.39 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 95 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.37 |
Impressive |
Industrial Average |
0.54 |
|
Debt to Equity Ratio |
0.58 |
Impressive |
Industrial Average |
1.16 |
|
Times Interest Earned |
7.87 |
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 lower the percentage means that the company is using
less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 7.87 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 0.37 less than 0.5, most of the company's
assets are financed through equity.
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 |
1.40 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.91 |
Acceptable |
Industrial Average |
1.71 |
|
Inventory Conversion Period |
52.87 |
|
|
|
|
Inventory Turnover |
6.90 |
Impressive |
Industrial Average |
3.41 |
|
Receivables Conversion Period |
65.97 |
|
|
|
|
Receivables Turnover |
5.53 |
Impressive |
Industrial Average |
5.01 |
|
Payables Conversion Period |
24.36 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.53 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 108 days at the
end of 2013 to 53 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 3.38 times in year 2013 to 6.9 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.91 times and 0.87
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.101.26 |
|
Euro |
1 |
Rs.72.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.