MIRA INFORM REPORT
|
Report No. : |
350723 |
|
Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
PLATINUM PRO
PLASTIC CO., LTD. |
|
|
|
|
Registered Office : |
90/11 Moo 6, T. Makhamku, A.
Nikhompattana, Rayong 21180 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
04.09.2006 |
|
|
|
|
Com. Reg. No.: |
0105549105925 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer and Distributor of
Plastic Products. |
|
|
|
|
No. of Employees : |
380 |
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
PLATINUM PRO PLASTIC CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 90/11
MOO 6, T.
MAKHAMKU,
A. NIKHOMPATTANA, RAYONG
21180,
THAILAND
TELEPHONE : [66] 38
917-244-7
FAX :
[66] 38
917-248
E-MAIL
ADDRESS : marketing@platinumproplastic.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2006
REGISTRATION
NO. : 0105549105925
TAX
ID NO. : 3032336086
CAPITAL REGISTERED : BHT. 200,000,000
CAPITAL PAID-UP : BHT.
200,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PIYASAK SAMRITPIPAT, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 380
LINES
OF BUSINESS : PLASTIC PRODUCTS
MANUFACTURER
AND DISTRIBUTOR
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 September 4,
2006 as a
private limited company
under the registered
name PLATINUM PRO
PLASTIC CO., LTD.,
by Thai groups,
with the business
objective to manufacture
various kinds of
plastic products for
local market. It
currently employs approximately 380 staff.
The
subject’s registered address
is 99/11 Moo
6, T. Makhamku,
A. Nikhompattana, Rayong
21180, and this
is the company’s
current operation address.
THE
BOARD OF DIRECTOR
Mr. Piyasak Samritpipat
AUTHORIZED
PERSON
Only of the
above director signs
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Piyasak Samritpipat
is the Managing
Director.
He is Thai
nationality with the age
of 60 years
old.
BUSINESS
OPERATIONS
The subject is
engaged in manufacturing
and distributing various
kinds plastic products
such as plastic
pallets, plastic bins
and plastic containers
under its own
brand “AMERICAN HULKBULL”,
as well as contract
manufacturing of the
products under customer’s
brands.
PRODUCTION CAPACITY
28,000 tons per
annum
PURCHASE
Most of raw
materials such as
plastic resins [PP and
PE] are purchased from
local suppliers, the
remaining is imported
from Republic of
China, U.S.A., and
Taiwan.
SALES
100% of the
products is sold
locally to manufacturers
and wholesalers.
SUBSIDAIRY
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.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs approximately
380 staff.
LOCATION
DETAILS
The
premise is owned
for operating administrative office,
factory I and warehouse at
the heading address.
Premise is located
in provincial.
Other
Factories:
-
33 Moo 3,
T. Makhamku, A.
Nikhompattana, Rayong 21180.
-
99/13
Moo 6, T.
Makhamku, A. Nikhompattana, Rayong
21180.
-
111/2
Moo 4, T. Lamsai,
A. Wangnoi, Ayutthaya 13170.
Bangkok
sales office is
at 271, 273, 275, 277 Kanchanapisek
Road, Laksong, Bangkae,
Bangkok 10160.
COMMENT
The
subject was formed in 2006
as a manufacturer
and distributor of plastic
products. Its products
are mainly served
to general users.
Despite market slowdown
from shrinking consumers’
spending, the subject
still has strong
business.
FINANCIAL
INFORMATION
The
capital was initially
registered at Bht. 100,000,000 divided
into 1,000,000 shares of
Bht. 100 each.
The
registered capital were
increased later as
follows:
Bht. 125,000,000
on October 17,
2007
Bht. 200,000,000
on March 28,
2010
The
latest registered capital
was increased to
Bht. 200,000,000 divided into
2,000,000 shares of
Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 30,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Piyasak Samritpipat Nationality: Thai Address : 54
Trok Wat Ratchawarin
3 Rd., Bukkalo,
Thonburi, Bangkok |
1,994,000 |
99.70 |
|
Mr. Anuchit Samritpipat Nationality: Thai Address : 49
Trok Wat Ratchawarin
3 Rd., Bukkalo,
Thonburi, Bangkok |
1,000 |
0.05 |
|
Mr. Natthavuth Boonpalart Nationality: Thai Address : 31/16
Moo 10, Trok
Nokkhet Rd., Bangklo,
Bangkorlaem, Bangkok |
1,000 |
0.05 |
|
Ms. Ratana Eiamvorasombat Nationality: Thai Address : 298/23
Moo 5, Thungkru,
Bangkok |
1,000 |
0.05 |
|
Ms. Chayanis Eiamvorasombat Nationality: Thai Address : 27
Soi Chalermkhet 2,
Wat Thepsirin, Pomprabsattrupai, Bangkok |
1,000 |
0.05 |
|
Mrs. Sasithan Eiamvorasombat Nationality: Thai Address : 31/272
Moo 10, Bangpai,
Bangkae, Bangkok |
1,000 |
0.05 |
|
Mrs. Watchara Eiamvorasombat Nationality: Thai Address : 3601/147 Moo 10,
Trok Nokkhet Rd.,
Bangklo, Bangkorlaem, Bangkok |
1,000 |
0.05 |
Total Shareholders : 7
Share
Structure
[as at
April 30, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
2,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
2,000,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Ms. Kanokthip Ngamvilaikorn
No. 7291
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 |
5,527,640.93 |
2,699,233.44 |
6,390,699.90 |
|
Short-term Investment |
13,332.72 |
13,173.23 |
3,085,004.83 |
|
Trade Accounts &
Other Receivable |
221,228,337.21 |
232,649,816.65 |
361,377,843.56 |
|
Inventories |
228,903,558.59 |
158,508,131.14 |
153,392,360.04 |
|
Other Current Assets
|
9,271,816.79 |
4,324,867.21 |
4,907,676.31 |
|
|
|
|
|
|
Total Current Assets
|
464,944,686.24 |
398,195,221.67 |
529,153,584.64 |
|
Cash at Bank pledged as a Collateral |
36,972,863.83 |
16,766,711.83 |
19,681,625.09 |
|
Fixed Assets |
370,088,912.77 |
347,041,145.49 |
230,213,378.76 |
|
Intangible Assets |
1,887,681.60 |
3,507,907.72 |
94,962,624.41 |
|
Assets under Construction and Installation |
186,516,524.42 |
105,823,302.09 |
4,076,407.72 |
|
Deposits-Purchase of Property |
30,000,000.00 |
14,200,000.00 |
14,200,000.00 |
|
Other Non-current Assets |
1,358,024.00 |
1,287,749.00 |
1,567,453.00 |
|
Total Assets |
1,091,768,692.86 |
886,822,037.80 |
893,855,073.62 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
398,290,611.34 |
305,713,189.11 |
329,770,124.52 |
|
Account Payable-Factoring |
6,565,962.99 |
14,356,578.78 |
13,106,432.88 |
|
Trade Accounts & Other
Payable |
158,013,992.14 |
157,962,803.04 |
175,809,191.98 |
|
Current Portion of
Long-term Loans |
22,440,000.00 |
9,480,000.00 |
4,230,000.00 |
|
Short-term Loans |
- |
- |
5,000,000.00 |
|
Loan Payable |
145,879,371.18 |
108,224,571.18 |
68,224,571.18 |
|
Current Portion of
Lease Contract Liabilities |
8,506,488.12 |
2,432,064.00 |
1,997,694.85 |
|
Accrued Income Tax |
2,452,409.21 |
157,669.49 |
2,311,742.48 |
|
Other Current Liabilities |
2,576,496.13 |
1,071,866.79 |
6,679,944.51 |
|
|
|
|
|
|
Total Current Liabilities |
744,725,331.11 |
599,398,742.39 |
607,129,702.40 |
|
Long-term Loan, Net of Current Portion |
56,601,491.03 |
20,347,670.04 |
35,000,000.00 |
|
Employee Benefits Obligation |
4,382,120.08 |
843,405.19 |
- |
|
Lease Contract Liabilities |
14,075,320.94 |
3,082,937.82 |
511,057.26 |
|
Total Liabilities |
819,784,263.16 |
623,672,755.44 |
642,640,759.66 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital
2,000,000 shares |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
|
|
|
|
|
Capital Paid |
200,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained Earning - Unappropriated |
71,984,429.70 |
63,149,282.35 |
51,214,313.97 |
|
Total Shareholders' Equity |
271,984,429.70 |
263,149,282.35 |
251,214,313.97 |
|
Total Liabilities & Shareholders' Equity |
1,091,768,692.86 |
886,822,037.80 |
893,855,073.62 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
1,176,086,702.55 |
1,212,108,953.91 |
1,281,755,128.29 |
|
Other Income |
6,063,198.81 |
1,146,623.06 |
1,634,201.15 |
|
Total Revenues |
1,182,149,901.36 |
1,213,255,576.97 |
1,283,389,329.44 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
1,030,600,580.69 |
1,072,844,012.34 |
1,136,771,591.41 |
|
Selling Expenses |
41,499,974.42 |
32,107,044.36 |
37,301,321.62 |
|
Administrative Expenses |
70,745,234.13 |
65,945,712.27 |
69,116,861.50 |
|
Total Expenses |
1,142,845,789.24 |
1,170,896,768.97 |
1,243,189,774.53 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
39,304,112.12 |
42,358,808.00 |
40,199,554.91 |
|
Financial Cost |
[26,657,928.57] |
[26,649,161.50] |
[23,306,384.38] |
|
Profit / [Loss] before Income
Tax |
12,646,183.55 |
15,709,646.50 |
16,893,170.53 |
|
Income Tax |
[3,811,036.20] |
[3,774,678.11] |
[4,780,779.11] |
|
|
|
|
|
|
Net Profit / [Loss] |
8,835,147.35 |
11,934,968.39 |
12,112,391.42 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.62 |
0.66 |
0.87 |
|
QUICK RATIO |
TIMES |
0.30 |
0.39 |
0.61 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.18 |
3.49 |
5.57 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.08 |
1.37 |
1.43 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
81.07 |
53.93 |
49.25 |
|
INVENTORY TURNOVER |
TIMES |
4.50 |
6.77 |
7.41 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
68.66 |
70.06 |
102.91 |
|
RECEIVABLES TURNOVER |
TIMES |
5.32 |
5.21 |
3.55 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
55.96 |
53.74 |
56.45 |
|
CASH CONVERSION CYCLE |
DAYS |
93.76 |
70.24 |
95.71 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.63 |
88.51 |
88.69 |
|
SELLING & ADMINISTRATION |
% |
9.54 |
8.09 |
8.30 |
|
INTEREST |
% |
2.27 |
2.20 |
1.82 |
|
GROSS PROFIT MARGIN |
% |
12.89 |
11.58 |
11.44 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.34 |
3.49 |
3.14 |
|
NET PROFIT MARGIN |
% |
0.75 |
0.98 |
0.94 |
|
RETURN ON EQUITY |
% |
3.25 |
4.54 |
4.82 |
|
RETURN ON ASSET |
% |
0.81 |
1.35 |
1.36 |
|
EARNING PER SHARE |
BAHT |
4.42 |
5.97 |
6.06 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.75 |
0.70 |
0.72 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.01 |
2.37 |
2.56 |
|
TIME INTEREST EARNED |
TIMES |
1.47 |
1.59 |
1.72 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(2.97) |
(5.43) |
|
|
OPERATING PROFIT |
% |
(7.21) |
5.37 |
|
|
NET PROFIT |
% |
(25.97) |
(1.46) |
|
|
FIXED ASSETS |
% |
6.64 |
50.75 |
|
|
TOTAL ASSETS |
% |
23.11 |
(0.79) |
|
ANNUAL GROWTH :
ACCEPTABLE
An annual sales growth is -2.97%. Turnover has decreased from THB
1,212,108,953.91 in 2013 to THB 1,176,086,702.55 in 2014. While net profit has
decreased from THB 11,934,968.39 in 2013 to THB 8,835,147.35 in 2014. And total
assets has increased from THB 886,822,037.80 in 2013 to THB 1,091,768,692.86 in
2014.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
12.89 |
Deteriorated |
Industrial
Average |
41.18 |
|
Net Profit Margin |
0.75 |
Deteriorated |
Industrial
Average |
4.95 |
|
Return on Assets |
0.81 |
Deteriorated |
Industrial
Average |
7.64 |
|
Return on Equity |
3.25 |
Deteriorated |
Industrial
Average |
13.40 |
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 12.89%. 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 0.75%.
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 0.81%.
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 3.25%.
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 |
0.62 |
Risky |
Industrial
Average |
1.78 |
|
Quick Ratio |
0.30 |
|
|
|
|
Cash Conversion Cycle |
93.76 |
|
|
|
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 0.62 times in 2014, decreased from 0.66 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 0.3 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 94 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.75 |
Acceptable |
Industrial
Average |
0.39 |
|
Debt to Equity Ratio |
3.01 |
Risky |
Industrial
Average |
0.65 |
|
Times Interest Earned |
1.47 |
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 1.48 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 0.75 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 |
3.18 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.08 |
Acceptable |
Industrial
Average |
1.54 |
|
Inventory Conversion Period |
81.07 |
|
|
|
|
Inventory Turnover |
4.50 |
Deteriorated |
Industrial
Average |
9.36 |
|
Receivables Conversion Period |
68.66 |
|
|
|
|
Receivables Turnover |
5.32 |
Satisfactory |
Industrial
Average |
6.94 |
|
Payables Conversion Period |
55.96 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.32 and 5.21 in
2014 and 2013 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2014
increased from 2013. This would suggest the company had good performance in the
management of its debt collections.
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 54 days at the
end of 2013 to 81 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 6.77 times in year 2013 to 4.5 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.08 times and 1.37
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.66.35 |
|
|
1 |
Rs.100.66 |
|
Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.