MIRA INFORM REPORT
|
Report No. : |
350306 |
|
Report Date : |
21.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
ATLANTIC MILLS [THAILAND] COMPANY LIMITED |
|
|
|
|
Registered Office : |
39/29-34 Moo 2, Thonburi-Pakthor Road T. Bangkrachao, A. Muang Samutsakorn 74000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
24.06.1998 |
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|
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Com. Reg. No.: |
0105541038897 |
|
|
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|
Legal Form : |
Private Limited Company
|
|
|
|
|
Line of Business : |
Subject is engaged
in manufacturing service
wide range of
denim fabrics, including
weaving, dyeing and finishing.
The products are supplied to apparel and furnishing application industries. |
|
|
|
|
No. of Employee : |
600 |
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 : |
No complaints |
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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, 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
ATLANTIC MILLS
[THAILAND] COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 39/29-34 MOO
2, THONBURI-PAKTHOR ROAD,
T.
BANGKRACHAO, A. MUANG,
SAMUTSAKORN 74000,
THAILAND
TELEPHONE : [66] 34
490-021-2, 081 649-2829
FAX :
[66] 34
490-019, 34 490-631
E-MAIL
ADDRESS : info@atlanticmills.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1998
REGISTRATION
NO. : 0105541038897
TAX
ID NO. : 3011940976
CAPITAL REGISTERED : BHT. 370,000,000
CAPITAL PAID-UP : BHT.
370,000,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOMKIAT PALAPONGPANICH, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 600
LINES
OF BUSINESS : DENIM FABRICS
MANUFACTURER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on June 24, 1998
as a private
limited company under
the originally registered name “Thai Overt Co., Ltd.” by
Thai groups. On February 16,
2001, its name was changed to
ATLANTIC MILLS [THAILAND] COMPANY LIMITED.
Subject’s business objective is to
provide manufacturing service
of denim fabrics to
both domestic and overseas
markets. It currently
employs approximately 600
staff.
The subject’s registered address is
39/29-34 Moo 2, Thonburi-Pakthor
Rd., T. Bangkrachao, A. Muang, Samutsakorn
74000, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somkiat Palapongpanich |
|
Thai |
44 |
|
Mr. Amarin Sajdev |
|
Thai |
35 |
AUTHORIZED
PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Somkiat Palapongpanich is
the Managing Director.
He is Thai
nationality with the
age of 44
years old.
Mr. Amarin Sajdev is
the Assistant Managing
Director.
He is Thai
nationality with the
age of 35
years old.
BUSINESS
OPERATIONS
The subject
is engaged in
manufacturing service wide
range of denim
fabrics, including weaving, dyeing and
finishing. The products are
supplied to apparel and furnishing
application industries.
PRODUCTION
CAPACITY
2 million
meters per month
(by order)
PURCHASE
Raw materials such
as cotton yarn
and component are
purchased from suppliers both
domestic and overseas, mainly in
Japan, Republic of
China, India, France,
New Zealand, Australia and
Germany.
MAJOR
SUPPLIERS
Jongstit
Co., Ltd. : Thailand
Indorama
Polyester Industries Public
Company Limited :
Thailand
EXPORT
60% of the products
is exported to
Republic of China,
Japan, Korea, Germany, U.S.A., United Kingdom, Turkey, Indonesia,
Russia, Canada, Vietnam, Cambodia, Hong
Kong, India, Africa, Netherlands, Peru,
Spain, Poland, Brazil,
Singapore, Taiwan, France,
Switzerland and Italy.
SALES
[LOCAL]
40% of the
products is sold
locally by wholesale
to garment manufacturers.
MAJOR
CUSTOMERS
Trends USA International
Inc. : U.S.A.
John Varvatos Enterprises
Inc. : U.S.A.
RELATED
AND AFFILIATED COMPANY
Aqua Touch Co.,
Ltd.
Business Type :
Textile dyeing service
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.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
The Siam Commercial Bank Public
Co., Ltd.
EMPLOYMENT
The subject
employs approximately 600
office staff and
factory workers.
LOCATION
DETAILS
The
premise is owned
for administrative office
and factory I
at the heading
address. Premise is
located in industrial
area.
Factory
II:
34/5
Moo 2, T. Bangkrachao, A. Muang,
Samutsakorn 74000
Sales
Office:
12th Floor,
C.T.I. Tower, 191/80
Ratchadapisek Rd., Klongtoey,
Bangkok 10110
Tel. : [66] 2661-8687-93 Fax. : [66] 2661-8694
COMMENT
With more than 16 years
of manufacturing experience,
the subject offers a
wide range of denim fashionable fabrics
with the finest
standard. Export improvement
has potential for
denim fabric. Demand of
denim also looks on the rise,
which is essential
for the related industries. Subject
has good operating performance
in the previous years with
a solid business.
The subject enjoys a
steady growth in response to a high
demand of the
products from both
local and overseas
markets.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 1,000,000 divided into 10,000 shares of
Bht. 100 each with
fully paid.
The
capital was increased
later as follows:
Bht.
189,000,000 on October
30, 2001
Bht.
370,000,000 on May
31, 2002
The latest registered capital was
increased to Bht. 370
million, divided into 3,700,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Amarin Sajdev Nationality: Thai Address : 99/68
Sukhumvit 24 Rd.,
Klongton,
Klongtoey, Bangkok |
2,774,996 |
75.00 |
|
Mr. Somkiat Palapongpanich Nationality: Thai Address :
43/3 Soi Ngamduplee,
Thungmahamek,
Sathorn, Bangkok |
925,000 |
25.00 |
|
Mr. Namathep Sajdev Nationality: Thai Address : 99/68
Sukhumvit 24 Rd.,
Klongton,
Klongtoey, Bangkok |
1 |
- |
|
Mrs. Panida Palapongpanich Nationality: Thai Address : 98/65
Moo 11, T. Raiking,
A. Sampran,
Nakornpathom |
1 |
- |
|
Ms. Rojana Sajjasiri Nationality: Thai Address : 20/27
Soi Prommitr, Klongtonnua,
Wattana, Bangkok |
1 |
- |
|
TSAM Corporation Ltd. Nationality: Thai Address : 39/29-34
Moo 2, T.
Bangkrachao, A. Muang,
Samutsakorn |
1 |
- |
Total Shareholders : 6
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
3,700,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
6 |
3,700,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mrs. Vanisa Wongsitthichoke No. 5103
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December 31, 2014, 2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash Equivalents |
14,008,245.57 |
6,058,116.94 |
1,664,360.45 |
|
Trade Accounts Receivable |
760,764,730.99 |
671,924,574.34 |
389,786,344.04 |
|
Inventories |
289,039,244.28 |
374,806,900.30 |
350,503,679.35 |
|
Other Current Assets
|
163,752,263.32 |
148,594,778.10 |
139,653,794.02 |
|
|
|
|
|
|
Total Current Assets
|
1,227,564,484.16 |
1,201,384,369.68 |
881,608,177.86 |
|
Loan to Directors |
- |
- |
208,052,026.61 |
|
Investment Related Companies |
174,999,790.00 |
- |
- |
|
Fixed Assets |
458,149,419.37 |
513,972,270.62 |
458,885,460.79 |
|
Other Non-current Assets |
20,606,910.90 |
10,328,799.18 |
10,240,092.61 |
|
Total Assets |
1,881,320,604.43 |
1,725,685,439.48 |
1,558,785,757.87 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
557,129,862.43 |
384,911,865.23 |
244,150,706.82 |
|
Trade Accounts & Other Payable |
311,543,207.90 |
423,499,222.80 |
391,220,891.74 |
|
Accrued Income Tax |
6,522,872.94 |
2,724,335.02 |
5,571,496.61 |
|
Other Current Liabilities |
939,760.00 |
581,847.98 |
684,588.79 |
|
|
|
|
|
|
Total Current Liabilities |
876,135,703.27 |
811,717,271.03 |
641,627,683.96 |
|
|
|
|
|
|
Other Long-term Loan |
135,605,000.00 |
113,835,000.00 |
141,754,254.21 |
|
Other Non-current Liabilities |
422,500.00 |
422,500.00 |
422,500.00 |
|
Total Liabilities |
1,012,163,203.27 |
925,974,771.03 |
783,804,438.17 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par
value authorized, issued
and fully paid share capital
3,700,000 shares |
370,000,000.00 |
370,000,000.00 |
370,000,000.00 |
|
|
|
|
|
|
Capital Paid |
370,000,000.00 |
370,000,000.00 |
370,000,000.00 |
|
Retained Earnings [Deficit] Appropriated for statutory
reserve |
37,000,000.00 |
37,000,000.00 |
37,000,000.00 |
|
Unappropriated |
462,157,401.16 |
392,710,668.45 |
367,981,319.70 |
|
Total Shareholders' Equity |
869,157,401.16 |
799,710,668.45 |
774,981,319.70 |
|
Total Liabilities &
Shareholders' Equity |
1,881,320,604.43 |
1,725,685,439.48 |
1,558,785,757.87 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales |
1,595,672,726.04 |
1,469,067,778.24 |
1,413,864,835.15 |
|
Other Income |
8,185,622.74 |
25,661,763.27 |
30,860,961.62 |
|
Total Revenues |
1,603,858,348.78 |
1,494,729,541.51 |
1,444,725,796.77 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,323,107,783.93 |
1,241,215,818.50 |
1,229,538,031.95 |
|
Selling Expenses |
41,767,575.47 |
53,746,143.68 |
36,667,539.99 |
|
Administrative Expenses |
118,155,919.13 |
102,607,129.05 |
88,743,118.37 |
|
Total Expenses |
1,483,031,278.53 |
1,397,569,091.23 |
1,354,948,690.31 |
|
|
|
|
|
|
Profit / [Loss] before Financial
Cost |
120,827,070.25 |
97,160,450.28 |
89,777,106.46 |
|
Financial Cost |
[39,833,396.59] |
[31,266,689.42] |
[37,363,052.15] |
|
Profit / [Loss] before Income
Tax |
80,993,673.66 |
65,893,760.86 |
52,414,054.32 |
|
Income Tax |
[11,546,940.95] |
[6,014,412.11] |
[6,571,496.61] |
|
Net Profit / [Loss] |
69,446,732.71 |
59,879,348.75 |
45,842,557.70 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.40 |
1.48 |
1.37 |
|
QUICK RATIO |
TIMES |
0.88 |
0.84 |
0.61 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.48 |
2.86 |
3.08 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.85 |
0.85 |
0.91 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
79.74 |
110.22 |
104.05 |
|
INVENTORY TURNOVER |
TIMES |
4.58 |
3.31 |
3.51 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
174.02 |
166.94 |
100.63 |
|
RECEIVABLES TURNOVER |
TIMES |
2.10 |
2.19 |
3.63 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
85.94 |
124.54 |
116.14 |
|
CASH CONVERSION CYCLE |
DAYS |
167.81 |
152.63 |
88.54 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
82.92 |
84.49 |
86.96 |
|
SELLING & ADMINISTRATION |
% |
10.02 |
10.64 |
8.87 |
|
INTEREST |
% |
2.50 |
2.13 |
2.64 |
|
GROSS PROFIT MARGIN |
% |
17.59 |
17.26 |
15.22 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
7.57 |
6.61 |
6.35 |
|
NET PROFIT MARGIN |
% |
4.35 |
4.08 |
3.24 |
|
RETURN ON EQUITY |
% |
7.99 |
7.49 |
5.92 |
|
RETURN ON ASSET |
% |
3.69 |
3.47 |
2.94 |
|
EARNING PER SHARE |
BAHT |
18.77 |
16.18 |
12.39 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.54 |
0.54 |
0.50 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.16 |
1.16 |
1.01 |
|
TIME INTEREST EARNED |
TIMES |
3.03 |
3.11 |
2.40 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
8.62 |
3.90 |
|
|
OPERATING PROFIT |
% |
24.36 |
8.22 |
|
|
NET PROFIT |
% |
15.98 |
30.62 |
|
|
FIXED ASSETS |
% |
(10.86) |
12.00 |
|
|
TOTAL ASSETS |
% |
9.02 |
10.71 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is 8.62%. Turnover has increased from THB
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
17.59 |
Satisfactory |
Industrial
Average |
21.55 |
|
Net Profit Margin |
4.35 |
Impressive |
Industrial
Average |
(2.28) |
|
Return on Assets |
3.69 |
Impressive |
Industrial
Average |
(1.86) |
|
Return on Equity |
7.99 |
Impressive |
Industrial Average |
(4.44) |
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 17.59%. 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. Which the high ratio in 4.35%, higher
figure when compared with those of its average competitors in the same
industry, indicated that business was an efficient operators 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
3.69%, 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 7.99%, 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 |
1.40 |
Impressive |
Industrial
Average |
1.21 |
|
Quick Ratio |
0.88 |
|
|
|
|
Cash Conversion Cycle |
167.81 |
|
|
|
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 1.4 times in 2014, decrease from 1.48 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 0.88 times in 2014,
increase from 0.84 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 168 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.54 |
Impressive |
Industrial
Average |
0.71 |
|
Debt to Equity Ratio |
1.16 |
Satisfactory |
Industrial
Average |
2.26 |
|
Times Interest Earned |
3.03 |
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 3.04 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 0.54 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.48 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.85 |
Impressive |
Industrial
Average |
0.83 |
|
Inventory Conversion Period |
79.74 |
|
|
|
|
Inventory Turnover |
4.58 |
Impressive |
Industrial
Average |
2.09 |
|
Receivables Conversion Period |
174.02 |
|
|
|
|
Receivables Turnover |
2.10 |
Acceptable |
Industrial
Average |
3.66 |
|
Payables Conversion Period |
85.94 |
|
|
|
The company's Account Receivable Ratio is calculated as 2.10 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 110 days at the
end of 2013 to 80 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 3.31 times in year 2013 to 4.58 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.85 times and 0.85
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 Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.09 |
|
|
1 |
Rs.101.04 |
|
Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.