MIRA INFORM REPORT
|
Report No. : |
349749 |
|
Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PASTINA COMPANY
LIMITED |
|
|
|
|
Registered Office : |
241 Soi Rama 2 Soi 50, Rama 2 Road, Samaedam, Bangkhunthien, Bangkok 10150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
15.10.1999 |
|
|
|
|
Com. Reg. No.: |
0105542079694 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor
and
Exporter of Plastic Products. |
|
|
|
|
No. of Employees : |
250 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Thailand |
A2 |
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,
and generally pro-investment policies Thailand has historically had a strong
economy due in part to competitive 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 2-4 million migrant workers from
neighboring countries, and faces labor shortages. Following the May 2014 coup
d'etat, 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
PASTINA COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 241
SOI RAMA 2
SOI 50, RAMA
2 ROAD,
SAMAEDAM, BANGKHUNTHIEN,
BANGKOK 10150,
THAILAND
TELEPHONE : [66] 2416-9562-6
FAX :
[66] 2898-5948,
2416-6802
E-MAIL
ADDRESS : contact@pastina.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0105542079694
TAX
ID NO. : 3030000705
CAPITAL REGISTERED : BHT. 70,000,000
CAPITAL PAID-UP : BHT.
70,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
TOUCHAPOL JANEJIRAJIRHACHOT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 250
LINES
OF BUSINESS : PLASTIC PRODUCTS
MANUFACTURER, DISTRIBUTOR AND EXPORTER
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 October 15,
1999 as a
private limited company
under the registered
name PASTINA COMPANY LIMITED
by Thai group, with
the business objective
to manufacture and distribute wide
range of plastic products
to both domestic and
international markets. It currently employs approximately 250 staff.
The
subject’s registered address is
241 Soi Rama
2 Soi 50,
Rama 2 Road, Samaedam,
Bangkhunthien, Bangkok 10150,
and this is
the subject’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Mayurakan Janejirajirhachot
[Phettaweebancha] |
|
Thai |
38 |
|
Mr. Touchapol
Janejirajirhachot
[Phettaweebancha] |
|
Thai |
38 |
|
Mr. Teeraset
Janejirajirhachot
[Phettaweebancha] |
|
Thai |
35 |
Note
“Mr. Teeraset
Phettaweebancha” changed
his last name
to “Janejirajirhachot”
on May 22,
2007.
“Mr. Touchpol
Phettaweebancha” changed
his last name
to “Janejirajirhachot”
on June 8,
2007.
“Ms. Mayurakan Phettaweebancha” changed her
last name to “Janejirajirhachot”
on June 20,
2007.
AUTHORIZED
PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Touchapol Janejirajirhachot is
the Managing Director.
He is Thai
nationality with the
age of 38
years old.
Ms. Mayurakan Janejirajirhachot is
the Deputy Managing
Director.
She is Thai nationality with
the age of 38 years
old.
Mr. Teeraset Janejirajirhachot is
the Deputy Managing
Director/Sales &
Marketing Manager.
He is Thai
nationality with the
age of 35
years old.
BUSINESS
OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting wide range
of plastic products
such as kitchenware,
household set, table
ware, bathroom set,
picnic & sport
products, multipurpose, food
container, plastic bottle and
premium products.
PURCHASE
Raw materials mainly
plastic resin [PP/HDPE/LDPE] and
chemicals are purchased
from suppliers both in domestic and
overseas in Taiwan,
Republic of China,
Japan and Germany.
MAJOR SUPPLIER
IRPC
Public Company Limited : Thailand
SALES
Its products are
sold by wholesale
to traders and
end-users mainly used
in food and
beverage businesses. 70%
of the products
is exported to
Hong Kong, U.S.A.,
Canada, Indonesia, U.K., Australia, Singapore, India, Malaysia, South Africa,
and New Zealand, the
remaining 30% is
sold locally.
MAJOR CUSTOMERS
CP All Public
Company Limited : Thailand
Big C Supercenter
Public Company Limited : Thailand
Unilever Thai Holding
Ltd. : Thailand
Tesco Lotus Supercenter : Thailand
Central Department Store
Group : Thailand
Robinson Department Store Group : Thailand
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 IRICO’S
DATABASE 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 employs approximately
250 staff.
LOCATION
DETAILS
The
premise is owned for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
Factory
is located at
305, 307, 309 Soi Rama
2 Soi 50,
Rama 2 Road,
Samaedam,
Bangkhunthien, Bangkok
10150.
Warehouse
is located at
256 Soi Thientalay
19, Bangkhunthien-Chaythalay
Road, Thakam, Bangkhunthien, Bangkok
10150.
COMMENT
Poor
economic outlook has
resulted to slowdown
of industrial sector,
which has affected
new investment and
expansion during the
years 2014 and 2015.
As well flat
domestic demand based
on weak purchasing
power amid a
continuous poor global
economic outlook would
erode the subject
sales for the
entire year.
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. 10,000,000
on August 9,
2002
Bht. 50,000,000
on September 12,
2003
Bht.
70,000,000 on
November 30, 2009
The
latest registered capital
was increased to Bht.
70,000,000 divided into
700,000 shares of
Bht. 100 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[As at April
30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Touchapol Janejirajirhachot Nationality: Thai Address : 70
Soi Bangbon 3,
Soi 6, Bangbon,
Bangkok |
385,000 |
55.00 |
|
Ms. Mayurakan Janejirajirhachot Nationality: Thai Address :
72 Soi Bangbon
3, Soi 6,
Bangbon,
Bangkok |
160,000 |
22.86 |
|
Mr. Teeraset Janejirajirhachot Nationality: Thai Address : 225
Thakam Road, Samaedam,
Bangkhunthien, Bangkok |
155,000 |
22.14 |
Total Shareholders : 3
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
700,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
700,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Rachit Chairat No. 8319
BALANCE
SHEET [BAHT]
The latest financial figures published
as at December
31, 2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
12,085,888.02 |
23,690,689.95 |
24,635,330.79 |
|
Trade Accounts &
Other Receivable |
97,695,007.36 |
82,630,096.45 |
56,877,249.21 |
|
Inventories |
93,712,407.13 |
119,577,102.79 |
131,501,458.47 |
|
Other Current Assets
|
7,759,252.53 |
11,507,989.56 |
22,304,196.25 |
|
|
|
|
|
|
Total Current Assets
|
211,252,555.04 |
237,405,878.75 |
235,318,234.72 |
|
|
|
|
|
|
Long-term Investment
|
50,000.00 |
50,000.00 |
50,000.00 |
|
Fixed Assets |
226,136,689.99 |
246,766,974.94 |
264,236,150.81 |
|
Intangible Assets |
79,987.81 |
239,140.69 |
479,610.47 |
|
Other Non-current Assets |
2,051,783.41 |
3,614,584.87 |
5,091,662.81 |
|
Total Assets |
439,571,016.25 |
488,076,579.25 |
505,175,658.81 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
181,202,601.81 |
160,711,660.40 |
216,756,566.37 |
|
Trade Accounts & Other
Payable |
63,621,976.78 |
93,260,721.52 |
70,004,046.25 |
|
Current Portion of Long-term
Loans |
31,108,455.03 |
45,322,978.73 |
32,164,536.78 |
|
Current Portion of
Financial Lease Contract Liabilities |
737,534.96 |
311,438.16 |
304,197.12 |
|
Other Current Liabilities |
6,013,322.62 |
5,173,332.19 |
7,209,165.86 |
|
|
|
|
|
|
Total Current Liabilities |
282,683,891.20 |
304,780,131.00 |
326,438,512.38 |
|
Long-term Loan from Financial Institutions |
66,140,488.67 |
93,411,902.32 |
51,326,886.97 |
|
Financial Lease Contract Liabilities |
332,011.71 |
390,999.16 |
684,163.66 |
|
Long-term Loan from Related Person |
- |
- |
38,900,000.00 |
|
Total Liabilities |
349,156,391.58 |
398,583,032.48 |
417,349,563.01 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital
700,000 shares |
70,000,000.00 |
70,000,000.00 |
70,000,000.00 |
|
|
|
|
|
|
Capital Paid |
70,000,000.00 |
70,000,000.00 |
70,000,000.00 |
|
Retained Earning -
Unappropriated |
20,414,624.67 |
19,493,546.77 |
17,826,095.80 |
|
Total Shareholders' Equity |
90,414,624.67 |
89,493,546.77 |
87,826,095.80 |
|
Total Liabilities &
Shareholders' Equity |
439,571,016.25 |
488,076,579.25 |
505,175,658.81 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
348,367,341.09 |
354,918,678.12 |
320,984,169.82 |
|
Interest Income |
1,557,492.89 |
491,906.71 |
- |
|
Other Income |
13,323,086.00 |
14,139,303.47 |
1,667,345.88 |
|
Gain on Exchange Rate |
- |
- |
1,025,102.78 |
|
Gain on Disposal of Assets |
- |
- |
810,585.81 |
|
Total Revenues |
363,247,922.98 |
369,549,888.30 |
324,487,204.29 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
298,296,859.36 |
301,224,823.98 |
262,379,034.48 |
|
Selling and Administrative Expenses |
41,222,124.78 |
46,069,656.17 |
42,238,229.51 |
|
Doubtful Account |
3,980,148.62 |
1,761,764.28 |
- |
|
Total Expenses |
343,499,132.76 |
349,056,344.43 |
304,617,263.99 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
19,748,790.22 |
20,493,543.87 |
19,869,940.30 |
|
Financial Cost |
[17,557,821.49] |
[17,795,895.56] |
[18,853,162.67] |
|
Profit / [Loss] before Income
Tax |
2,190,968.73 |
2,697,648.31 |
1,016,777.63 |
|
Income Tax |
[1,269,890.83] |
[1,030,197.34] |
[624,578.98] |
|
|
|
|
|
|
Net Profit / [Loss] |
921,077.90 |
1,667,450.97 |
392,198.65 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.75 |
0.78 |
0.72 |
|
QUICK RATIO |
TIMES |
0.39 |
0.35 |
0.25 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.54 |
1.44 |
1.21 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.79 |
0.73 |
0.64 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
114.67 |
144.89 |
182.93 |
|
INVENTORY TURNOVER |
TIMES |
3.18 |
2.52 |
2.00 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
102.36 |
84.98 |
64.68 |
|
RECEIVABLES TURNOVER |
TIMES |
3.57 |
4.30 |
5.64 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
77.85 |
113.01 |
97.38 |
|
CASH CONVERSION CYCLE |
DAYS |
139.18 |
116.87 |
150.23 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
85.63 |
84.87 |
81.74 |
|
SELLING & ADMINISTRATION |
% |
11.83 |
12.98 |
13.16 |
|
INTEREST |
% |
5.04 |
5.01 |
5.87 |
|
GROSS PROFIT MARGIN |
% |
18.64 |
19.25 |
19.35 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
5.67 |
5.77 |
6.19 |
|
NET PROFIT MARGIN |
% |
0.26 |
0.47 |
0.12 |
|
RETURN ON EQUITY |
% |
1.02 |
1.86 |
0.45 |
|
RETURN ON ASSET |
% |
0.21 |
0.34 |
0.08 |
|
EARNING PER SHARE |
BAHT |
1.32 |
2.38 |
0.56 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.79 |
0.82 |
0.83 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.86 |
4.45 |
4.75 |
|
TIME INTEREST EARNED |
TIMES |
1.12 |
1.15 |
1.05 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(1.85) |
10.57 |
|
|
OPERATING PROFIT |
% |
(3.63) |
3.14 |
|
|
NET PROFIT |
% |
(44.76) |
325.15 |
|
|
FIXED ASSETS |
% |
(8.36) |
(6.61) |
|
|
TOTAL ASSETS |
% |
(9.94) |
(3.38) |
|
ANNUAL
GROWTH: RISKY
An annual sales growth is -1.85%. Turnover has decreased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
18.64 |
Impressive |
Industrial
Average |
(2.00) |
|
Net Profit Margin |
0.26 |
Deteriorated |
Industrial
Average |
0.87 |
|
Return on Assets |
0.21 |
Deteriorated |
Industrial
Average |
1.02 |
|
Return on Equity |
1.02 |
Deteriorated |
Industrial
Average |
2.60 |
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 18.64%. 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 0.26%.
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 0.21%.
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 1.02%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.75 |
Risky |
Industrial
Average |
1.17 |
|
Quick Ratio |
0.39 |
|
|
|
|
Cash Conversion Cycle |
139.18 |
|
|
|
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 0.75 times in 2014, decreased from 0.78 times, then the company may not be
efficiently using its current assets. 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 0.39 times in 2014,
increased from 0.35 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 140 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.79 |
Acceptable |
Industrial
Average |
0.59 |
|
Debt to Equity Ratio |
3.86 |
Risky |
Industrial
Average |
1.46 |
|
Times Interest Earned |
1.12 |
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 1.13 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 0.79 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 |
1.54 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.79 |
Acceptable |
Industrial
Average |
1.18 |
|
Inventory Conversion Period |
114.67 |
|
|
|
|
Inventory Turnover |
3.18 |
Acceptable |
Industrial
Average |
5.07 |
|
Receivables Conversion Period |
102.36 |
|
|
|
|
Receivables Turnover |
3.57 |
Satisfactory |
Industrial
Average |
4.01 |
|
Payables Conversion Period |
77.85 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.57 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 145 days at the
end of 2013 to 115 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 2.52 times in year 2013 to 3.18 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.79 times and 0.73
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 Uptrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.100.51 |
|
Euro |
1 |
Rs.70.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.