MIRA INFORM REPORT
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Report No. : |
322570 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIA DIAM CO., LTD. |
|
|
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Registered Office : |
Room 185b, 26th Floor, Gems Tower Building, 1249/185 Charoenkrung Road, Suriyawongse, Bangrak, Bangkok 10500 |
|
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Country : |
Thailand |
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|
|
Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
25.08.2011 |
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Com. Reg. No.: |
0105554113116 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The subject
is engaged in
importing, distributing and
re-exporting various kinds
of diamonds and
gemstones for jewelry
trading and productions, as
well as exporting
of local diamonds,
gemstones and jewelry
products. |
|
|
|
|
No. of Employees : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 – 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
TIA DIAM CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : ROOM
185B, 26th FLOOR,
GEMS TOWER BUILDING,
1249/185 CHAROENKRUNG
ROAD, SURIYAWONGSE,
BANGRAK, BANGKOK
10500, THAILAND
TELEPHONE : [66] 2266-4200,
089 177-0428
FAX :
[66] 2266-4200
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2011
REGISTRATION
NO. : 0105554113116
TAX
ID NO. : 3034672571
CAPITAL REGISTERED : BHT. 6,000,000
CAPITAL PAID-UP : BHT.
6,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. GAURAV DAGARIA,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 1
LINES
OF BUSINESS : DIAMONDS AND
GEMSTONES
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on August 25,
2011 as a private
limited company under the
registered name TIA DIAM
CO., LTD. by Thai
and Indian groups,
with the business objective
to import and
distribute diamonds and
gemstones for jewelry
trading and production
industry. It currently
employs 1 staff.
The
subject’s registered address
was initially at 24th Floor,
ITF-Silom Palace Building,
160/567 Silom Rd., Suriyawongse,
Bangrak, Bangkok 10500.
On
April 24, 2012,
its registered address
was relocated to
Room 185B, 26th Floor,
Gems Tower Building,
1249/185 Charoenkrung Rd.,
Suriyawongse, Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Gaurav Dagaria |
[x] |
Indian |
34 |
|
Mr. Vipul Mehta Bhikhalal |
|
Indian |
33 |
|
Mr. Nirav Chandulal Darji |
|
Indian |
27 |
AUTHORIZED PERSON
Mr. Gaurav Dagaria signs
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Gaurav Dagaria is
the Managing Director.
He is Indian
nationality with the
age of 34
years old.
BUSINESS OPERATIONS
The subject
is engaged in
importing, distributing and
re-exporting various kinds
of diamonds and gemstones for
jewelry trading and
productions, as well
as exporting of
local diamonds, gemstones
and jewelry products.
PURCHASE
Most
of the products
are imported from
India, Hong Kong
and South Africa,
and the remaining is
purchased from local
suppliers.
SALES
The products are
sold locally to
wholesalers, manufacturers and
end-users.
EXPORT
The products are
exported and re-exported
to Hong Kong, India
and
Republic of China.
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 for 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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
1 staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
COMMENT
Though
the subject was established
in August 2011, it
has actually started
commercial business activities
in 2012. The
subject’s operating performance in 2013
was satisfactory and
strongly grown amid
uncertainty market and
slow consumers’ spending. In
2014, the subject
has also increased
its registered capital
to Bht. 6,000,000
which would assist
on the company’s
liquidity flow. In
general, its business
remains promising and
growing considerably.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,000,000 divided
into 20,000 shares of
Bht. 100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 5,000,000 on
December 19, 2013
Bht. 6,000,000 on
October 13, 2014
The
latest registered capital
was increased to
Bht. 6,000,000 divided
into 60,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE
[as at October 9, 2014]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Gaurav Dagaria Nationality: Indian Address : Mumbai,
India |
24,000 |
40.00 |
|
Ms. Orawan Channoom Nationality: Thai Address : 160/567
Silom Rd., Suriyawongse,
Bangrak, Bangkok |
10,200 |
17.00 |
|
Ms. Kanokporn Sittivanich Nationality: Thai Address : 22/39
Moo 8, Bangbon, Bangkok |
10,200 |
17.00 |
|
Mr. Benjamin Sittivanich Nationality: Thai Address : 22/39
Moo 8, Bangbon,
Bangkok |
10,200 |
17.00 |
|
Ms. Priyanga Jain Nationality: Indian Address : New
Delhi, India |
1,800 |
3.00 |
|
Mr. Vipul Mehta Bhikhalal Nationality: Indian Address : 1249/185
Charoenkrung Road,
Suriyawongse, Bangrak, Bangkok |
1,800 |
3.00 |
|
|
|
|
|
Mr. Nirav Chandulal Darji Nationality: Indian Address : 1249/185
Charoenkrung Road,
Suriyawongse, Bangrak, Bangkok |
1,800 |
3.00 |
Total Shareholders : 7
Share Structure
[as at October
9, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
30,600 |
51.00 |
|
Foreign - Indian |
4 |
29,400 |
49.00 |
|
Total |
7 |
60,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mrs. Suthiwa Atianuwat No. 6397
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December
31, 2013, 2012
and 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents |
173,816.50 |
368,725.15 |
62,710.00 |
|
Trade Account and Other Receivable |
18,655,502.47 |
242,969.35 |
11,134.25 |
|
Short-term Lending to
Director |
1,900,000.00 |
535,000.00 |
1,600,000.00 |
|
Inventories |
7,915,548.89 |
- |
- |
|
Other Current Assets |
670.29 |
4,407.54 |
- |
|
|
|
|
|
|
Total Current Assets
|
28,645,538.15 |
1,151,102.04 |
1,673,844.25 |
|
Equipment |
173,599.14 |
56,445.01 |
- |
|
Total Assets |
28,819,137.29 |
1,207,547.05 |
1,673,844.25 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Trade Account & Other Payable |
24,633,489.71 |
400,793.70 |
6,000.00 |
|
Other Current Liabilities |
96,294.10 |
5,380.00 |
4,600.00 |
|
|
|
|
|
|
Total Current Liabilities |
24,729,783.81 |
406,173.70 |
10,600.00 |
|
Total Liabilities |
24,729,783.81 |
406,173.70 |
10,600.00 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value authorized, issued
and fully paid share
capital 50,000 shares
in 2013; 20,000 shares in 2012 & 2011 |
5,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
2,000,000.00 |
2,000,000.00 |
|
Retained Earning - Unappropriated |
[910,646.52] |
[1,198,626.65] |
[336,755.75] |
|
Total Shareholders' Equity
|
4,089,353.48 |
801,373.35 |
1,663,244.25 |
|
Total Liabilities &
Shareholders' Equity |
28,819,137.29 |
1,207,547.05 |
1,673,844.25 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
Aug. 25,
2011 - Dec. 31,
2011 |
|
|
|
|
|
|
Sales |
32,323,376.44 |
1,627,704.01 |
- |
|
Other Income |
3,041.10 |
16,050.00 |
11,134.25 |
|
Total Revenues |
32,326,417.54 |
1,643,754.01 |
11,134.25 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Sold
Goods |
28,960,332.45 |
1,464,857.30 |
- |
|
Selling &
Administrative Expenses |
2,998,345.84 |
1,040,767.61 |
347,890.00 |
|
Total Expenses |
31,958,678.29 |
2,505,624.91 |
347,890.00 |
|
Profit /[ Loss] before Income
Tax |
367,739.25 |
[861,870.90] |
[336,755.75] |
|
Income Tax |
[79,759.12] |
- |
- |
|
Net Profit / [Loss] |
287,980.13 |
[861,870.90] |
[336,755.75] |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.16 |
2.83 |
157.91 |
|
QUICK RATIO |
TIMES |
0.84 |
2.82 |
157.91 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
186.20 |
28.84 |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.12 |
1.35 |
- |
|
INVENTORY CONVERSION PERIOD |
DAYS |
99.76 |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
3.66 |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
210.66 |
54.48 |
- |
|
RECEIVABLES TURNOVER |
TIMES |
1.73 |
6.70 |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
310.47 |
99.87 |
- |
|
CASH CONVERSION CYCLE |
DAYS |
(0.04) |
(45.38) |
- |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.60 |
90.00 |
- |
|
SELLING & ADMINISTRATION |
% |
9.28 |
63.94 |
- |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
10.41 |
10.99 |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.14 |
(52.95) |
- |
|
NET PROFIT MARGIN |
% |
0.89 |
(52.95) |
- |
|
RETURN ON EQUITY |
% |
7.04 |
(107.55) |
(20.25) |
|
RETURN ON ASSET |
% |
1.00 |
(71.37) |
(20.12) |
|
EARNING PER SHARE |
BAHT |
5.76 |
(43.09) |
(16.84) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.86 |
0.34 |
0.01 |
|
DEBT TO EQUITY RATIO |
TIMES |
6.05 |
0.51 |
0.01 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
1,885.83 |
- |
|
|
OPERATING PROFIT |
% |
(142.67) |
155.93 |
|
|
NET PROFIT |
% |
133.41 |
(155.93) |
|
|
FIXED ASSETS |
% |
207.55 |
- |
|
|
TOTAL ASSETS |
% |
2,286.59 |
(27.86) |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 1885.83%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
10.41 |
Satisfactory |
Industrial
Average |
13.48 |
|
Net Profit Margin |
0.89 |
Impressive |
Industrial
Average |
0.49 |
|
Return on Assets |
1.00 |
Deteriorated |
Industrial
Average |
3.20 |
|
Return on Equity |
7.04 |
Satisfactory |
Industrial
Average |
8.90 |
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 10.41%. 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 0.89%,
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. When compared with the
industry average, it was lower, the
company's figure is 1%.
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 7.04%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.16 |
Deteriorated |
Industrial
Average |
2.69 |
|
Quick Ratio |
0.84 |
|
|
|
|
Cash Conversion Cycle |
(0.04) |
|
|
|
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 1.16 times in 2013, decreased from 2.83 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 0.84 times in 2013,
decreased from 2.82 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 -1 day.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE
RATIO
|
Debt Ratio |
0.86 |
Acceptable |
Industrial
Average |
0.84 |
|
Debt to Equity Ratio |
6.05 |
Risky |
Industrial
Average |
2.38 |
|
Times Interest Earned |
- |
|
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.
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 Uptrend
Times Interest Earned Stable
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
186.20 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.12 |
Deteriorated |
Industrial
Average |
8.23 |
|
Inventory Conversion Period |
99.76 |
|
|
|
|
Inventory Turnover |
3.66 |
Deteriorated |
Industrial
Average |
13.23 |
|
Receivables Conversion Period |
210.66 |
|
|
|
|
Receivables Turnover |
1.73 |
Deteriorated |
Industrial
Average |
19.10 |
|
Payables Conversion Period |
310.47 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.73 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 0 day at the end
of 2012 to 100 days at the end of 2013. This represents a negative trend. And
Inventory turnover has increased from 0 time in year 2012 to 3.66 times in year
2013.
The company's Total Asset Turnover is calculated as 1.12 times and 1.35
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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
DIAMOND
INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
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.