MIRA INFORM REPORT
|
Report No. : |
349680 |
|
Report Date : |
19.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIAM MODERNTEX CO., LTD. |
|
|
|
|
Registered Office : |
92/1-2 Moo 6, T. Nongdindaeng, A. Muang, Nakornpathom 73000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.01.1995 |
|
|
|
|
Com. Reg. No.: |
0105538008061 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Contractor of
Textile. |
|
|
|
|
No. of Employees : |
180 |
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 |
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|
|
|
Payment Behaviour : |
Slow but correct |
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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 |
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
SIAM MODERNTEX CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 92/1-2 MOO 6,
T. NONGDINDAENG,
A. MUANG,
NAKORNPATHOM 73000,
THAILAND
TELEPHONE : [66] 34
338-314-7, 081 768-6949
FAX :
[66] 34
338-318
E-MAIL
ADDRESS : prasit@smtex.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1995
REGISTRATION
NO. : 0105538008061 [Former: [1] 201/2538]
TAX
ID NO. : 3011526545
CAPITAL REGISTERED : BHT. 121,001,000
CAPITAL PAID-UP : BHT.
121,001,000
SHAREHOLDER’S PROPORTION : THAI :
61.12%
TAIWANESE :
38.88%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MRS.
BENJAMAS WANG, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 180
LINES
OF BUSINESS : TEXTILE
MANUFACTURER
AND CONTRACTOR
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 January
18, 1995 as
a private limited
company under the
registered name SIAM
MODERNTEX CO., LTD.,
by Thai and
Taiwanese groups, in order
to be engaged
in textile industry.
It currently employs
approximately 180 staff.
The subject’s registered
address was 253/1
Moo 3, T. Nongdindaeng, A.
Muang,
Nakornpathom
73000.
In
2008, the registered address
was changed from “253/1 Moo 3”
to “92/1-2 Moo 6”
T. Nongdindaeng, A. Muang, Nakornpathom 73000 by
the Nongdindaeng District Office, but
both are the
same location, and
this is also
the subject’s current
operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Ting Kuang Wang |
|
Taiwanese |
38 |
|
Mrs. Benjamas Wang |
|
Thai |
39 |
AUTHORIZED
PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mrs. Benjamas Wang is
the Managing Director.
She is Thai
nationality with the
age of 39 years
old.
Mr. Prasit Jongsiri is
the Deputy Managing
Director, Sales &
Marketing Manager.
He is Thai
nationality.
Mrs. Onchanok Chuang is
the Accounting &
Financial Manager.
She is Thai
nationality.
BUSINESS
OPERATIONS
The subject is
engaged in textile
business specialized in
yarn spinning and
textile manufacturing and
servicing. The products
and services are
as follows:
- Manufacturing
and distributing of
yarn spinning for
100% polyester fancy
yarn, thick &
thin, and slub
yarn for linen-look and
silk-look, multi-color yarn,
woo-like
and functional yarn
- Manufacturing
and distributing of
fabric products such
as calico, linen,
silk,
cotton,
polyester for upholstery.
- Manufacturing
service of textile
according to customer’s requirement.
BRAND NAME
“SMT”
PRODUCTION CAPACITY
400-600 tons/month
PURCHASE
80%
of raw material
mainly polyester yarn
is purchased from
local suppliers, and
the remaining 20%
is imported from
Japan, Republic of
China, Taiwan, Singapore,
India and Indonesia.
MAJOR
SUPPLIERS
Jong Stit Co., Ltd. : Thailand
Daiichi Co., Ltd. : Japan
SALES
60% of the
products is sold
and serviced locally
to manufacturers and
wholesalers.
EXPORT
40%
of the products
is exported to
Republic of China,
Taiwan, India, Hong Kong,
Japan,
Pakistan, Malaysia, Indonesia,
Middle East countries
and Europe.
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 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.
Exports are against
T/T.
BANKING
Export Import Bank
of Thailand
Bangkok Bank Public
Co., Ltd.
Bank of Ayudhya
Public Co., Ltd.
EMPLOYMENT
The
subject employs approximately
180 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office and
factory on the
land area of
16,000 square meters
at the heading
address. Premise is
located in provincial.
Warehouse
is located at
71/164 Moo 4, T. Thatamnak
A. Nakornchaisri, Nakornprathom 73120.
COMMENT
The subject is engaged
in yarn spinning
and textile manufacturing. Its
products are for
industrial users such
as garment, decoration
and furniture industries,
as well as
retail market for general
consumers.
However,
subject ended the
fiscal year 2014 with
a lower sales
revenue compared to
the previous year
caused by slowdown
of related industries.
FINANCIAL
INFORMATION
The
capital was initially
registered at Bht.
52,000,000 divided into
520,000 shares of
Bht.
100 each.
On September 1, 2004,
the capital was
increased to Bht. 66,000,000 divided
into 660,000
shares
of Bht. 100
each with fully
paid.
On
July 14, 2008,
the capital was
increased to Bht. 121,001,000
divided into 1,210,010
shares of Bht
100 each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
October 9, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mrs. Sirichome Chuang Nationality: Thai Address : 71/163
Moo 4, T. Thatamnak, A.
Nakornchaisri, Nakornpathom |
523,823 |
43.29 |
|
Mr. Wu Ta Yong Nationality: Taiwanese Address : 71/164
Moo 4, T. Thatamnak, A. Nakornchaisri,
Nakornpathom |
216,137 |
17.86 |
|
Mr. Cheun Chan Chuang Nationality: Taiwanese Address : 71/164
Moo 4, T. Thatamnak, A.
Nakornchaisri, Nakornpathom |
207,646 |
17.16 |
|
Mrs. Benjamas Wang Nationality: Thai Address : 1/70
Moo 9, Salathammasop,
Taweewattana, Bangkok |
50,000 |
4.13 |
|
Mr. Satien Chuang Nationality: Thai Address : 71/163
Moo 4, T. Thatamnak, A.
Nakornchaisri, Nakornpathom |
50,000 |
4.13 |
|
Mr. Ting Kuang Wang
Nationality: Taiwanese Address : 1/70
Moo 9, Salathammasop,
Taweewattana, Bangkok |
40,000 |
3.31 |
|
Mrs. Ornchanok Chuang Nationality: Thai Address : 18/30
Moo 5, T. Nongdindaeng, A. Muang,
Nakornpathom |
40,000 |
3.31 |
|
Mr. Somwang Boonthongrungtawee Nationality: Thai Address : 10/72
Moo 7, Rama
2 Rd., Thakam,
Bangkhunthien, Bangkok |
31,764 |
2.63 |
|
Mrs. Supanuj Thirawat Nationality: Thai Address : 300/14
Ladprao 1 Rd.,
Ladyao,
Jatujak, Bangkok |
29,901 |
2.47 |
|
Mr. Prasit Jongsiri Nationality: Thai Address : 180/3
Moo 3, Sapansung,
Bangkok |
14,072 |
1.16 |
|
Mr. Zhen Nan Chuang Nationality: Taiwanese Address : 71/163 Moo 4, T. Thatamnak, A. Nakornchaisri, Nakornprathom |
6,667 |
0.55 |
Total Shareholders : 11
Share Structure [as
at October 9, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
739,560 |
61.12 |
|
Foreign - Taiwanese |
4 |
470,450 |
38.88 |
|
Total |
11 |
1,210,010 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Weerak Jiraratpisal No. 2659
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 |
8,529,545.87 |
2,067,081.82 |
4,231,808.57 |
|
Trade Accounts &
Other Receivable |
160,453,398.18 |
153,725,696.11 |
145,392,992.33 |
|
Inventories |
86,072,159.63 |
101,865,290.87 |
95,305,076.33 |
|
Other Current Assets
|
12,710,103.13 |
5,351,581.45 |
633,762.58 |
|
|
|
|
|
|
Total Current Assets
|
267,765,206.81 |
263,009,650.25 |
245,563,639.81 |
|
|
|
|
|
|
Fixed Assets |
84,821,272.25 |
90,972,905.69 |
100,293,232.95 |
|
Other Non-current Assets |
4,501,903.91 |
5,396,836.26 |
5,291,012.06 |
|
Total Assets |
357,088,382.97 |
359,379,392.20 |
351,147,884.82 |
LIABILITIES & SHAREHOLDERS’
EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan From Financial Institutions |
62,997,908.79 |
60,691,492.96 |
64,793,087.77 |
|
Trade Accounts & Other
Payable |
120,299,869.11 |
115,171,630.87 |
119,988,396.97 |
|
Current Portion of
Repayment of Long-term Payables |
1,170,315.00 |
1,389,032.00 |
5,572,906.27 |
|
Accrued Income Tax |
1,776,563.70 |
2,897,549.27 |
- |
|
|
|
|
|
|
Total Current Liabilities |
186,244,656.60 |
180,149,705.10 |
190,354,391.01 |
|
Repayment of Long-term Payables |
1,183,704.00 |
1,083,267.00 |
- |
|
Employee Benefits Obligation |
2,670,285.00 |
- |
- |
|
Long-term Loans |
- |
- |
529,899.48 |
|
Total Liabilities |
190,098,645.60 |
181,232,972.10 |
190,884,290.49 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital
1,210,010 shares |
121,001,000.00 |
121,001,000.00 |
121,001,000.00 |
|
|
|
|
|
|
Capital Paid |
121,001,000.00 |
121,001,000.00 |
121,001,000.00 |
|
Retained Earnings: Appropriated for statutory
reserve |
2,150,000.00 |
- |
- |
|
Unappropriated |
43,838,737.37 |
57,145,420.10 |
39,262,594.33 |
|
Total Shareholders' Equity |
166,989,737.37 |
178,146,420.10 |
160,263,594.33 |
|
Total Liabilities & Shareholders' Equity |
357,088,382.97 |
359,379,392.20 |
351,147,884.82 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Yarn Sale |
456,380,693.64 |
455,727,323.67 |
435,518,164.35 |
|
Raw Yarn Sale |
1,270,283.27 |
756,887.00 |
777,588.00 |
|
Calico Sale |
- |
- |
7,514,919.84 |
|
Finished Fabric Sale |
20,314,848.08 |
30,251,258.25 |
32,248,651.88 |
|
Services |
5,544,107.64 |
7,978,685.69 |
8,138,472.63 |
|
Gain on Exchange Rate |
6,975,229.74 |
10,535,971.16 |
7,116,520.44 |
|
Total Revenues |
490,485,162.37 |
505,250,125.77 |
491,314,317.14 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
& Sale |
433,002,881.17 |
445,595,212.95 |
446,309,040.33 |
|
Selling Expenses |
11,327,200.90 |
4,412,646.91 |
6,502,247.48 |
|
Administrative Expenses |
29,604,316.96 |
27,875,947.62 |
21,562,336.72 |
|
Total Expenses |
473,934,399.03 |
477,883,807.48 |
474,373,624.53 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
16,550,763.34 |
27,366,318.29 |
16,940,692.61 |
|
Financial Cost |
[4,194,648.57] |
[4,669,564.84] |
[5,294,795.14] |
|
Profit / [Loss] before Income
Tax |
12,356,114.77 |
22,696,753.45 |
11,645,897.47 |
|
Income Tax |
[3,512,797.50] |
[4,813,927.68] |
- |
|
|
|
|
|
|
Net Profit / [Loss] |
8,843,317.27 |
17,882,825.77 |
11,645,897.47 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.44 |
1.46 |
1.29 |
|
QUICK RATIO |
TIMES |
0.91 |
0.86 |
0.79 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
5.70 |
5.44 |
4.83 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.35 |
1.38 |
1.38 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
72.55 |
83.44 |
77.94 |
|
INVENTORY TURNOVER |
TIMES |
5.03 |
4.37 |
4.68 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
121.13 |
113.42 |
109.60 |
|
RECEIVABLES TURNOVER |
TIMES |
3.01 |
3.22 |
3.33 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
101.41 |
94.34 |
98.13 |
|
CASH CONVERSION CYCLE |
DAYS |
92.27 |
102.52 |
89.41 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
89.55 |
90.07 |
92.17 |
|
SELLING & ADMINISTRATION |
% |
8.47 |
6.53 |
5.80 |
|
INTEREST |
% |
0.87 |
0.94 |
1.09 |
|
GROSS PROFIT MARGIN |
% |
11.89 |
12.06 |
9.29 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.42 |
5.53 |
3.50 |
|
NET PROFIT MARGIN |
% |
1.83 |
3.61 |
2.41 |
|
RETURN ON EQUITY |
% |
5.30 |
10.04 |
7.27 |
|
RETURN ON ASSET |
% |
2.48 |
4.98 |
3.32 |
|
EARNING PER SHARE |
BAHT |
7.31 |
14.78 |
9.62 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.53 |
0.50 |
0.54 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.14 |
1.02 |
1.19 |
|
TIME INTEREST EARNED |
TIMES |
3.95 |
5.86 |
3.20 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(2.26) |
2.17 |
|
|
OPERATING PROFIT |
% |
(39.52) |
61.54 |
|
|
NET PROFIT |
% |
(50.55) |
53.55 |
|
|
FIXED ASSETS |
% |
(6.76) |
(9.29) |
|
|
TOTAL ASSETS |
% |
(0.64) |
2.34 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -2.26%. Turnover has decreased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
11.89 |
Impressive |
Industrial
Average |
2.64 |
|
Net Profit Margin |
1.83 |
Impressive |
Industrial
Average |
(1.48) |
|
Return on Assets |
2.48 |
Impressive |
Industrial
Average |
(2.03) |
|
Return on Equity |
5.30 |
Impressive |
Industrial
Average |
(4.20) |
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 11.89%. 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 1.83%, 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
2.48%, 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 5.3%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.44 |
Impressive |
Industrial
Average |
1.22 |
|
Quick Ratio |
0.91 |
|
|
|
|
Cash Conversion Cycle |
92.27 |
|
|
|
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 1.44 times in 2014, decreased from
1.46 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 0.91 times in 2014,
increased from 0.86 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 93 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.53 |
Acceptable |
Industrial
Average |
0.44 |
|
Debt to Equity Ratio |
1.14 |
Risky |
Industrial
Average |
0.77 |
|
Times Interest Earned |
3.95 |
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 3.95 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 Downtrend
Times Interest Earned Stable
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
5.70 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.35 |
Satisfactory |
Industrial
Average |
1.37 |
|
Inventory Conversion Period |
72.55 |
|
|
|
|
Inventory Turnover |
5.03 |
Impressive |
Industrial
Average |
4.16 |
|
Receivables Conversion Period |
121.13 |
|
|
|
|
Receivables Turnover |
3.01 |
Deteriorated |
Industrial
Average |
6.82 |
|
Payables Conversion Period |
101.41 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.01 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 83 days at the
end of 2013 to 73 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 4.37 times in year 2013 to 5.03 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.35 times and 1.38
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.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.