MIRA INFORM REPORT

 

 

Report No. :

351574

Report Date :

28.11.2015

 

IDENTIFICATION DETAILS

 

Name :

CASTLE GROUP INTERNATIONALCO., LTD.

 

 

Registered Office :

124/81  Moo  10,  T. Nongprue,  A. Banglamung, Chonburi  20150

 

 

Country :

Thailand

 

 

Date of Incorporation :

30.06.2015

 

 

Com. Reg. No.:

0205558018702

 

 

Legal Form :

Private  Limited  Company

 

 

Line of Business :

Exporter of Rice and Coals                                           

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New business 

 

 

Payment Behaviour :

Unknown

 

 

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

 

CASTLE  GROUP  INTERNATIONAL CO.,  LTD.

 

 

SUMMARY

 

REGISTRATION  ADDRESS                  :           124/81  MOO  10,  T. NONGPRUE,  A. BANGLAMUNG,

                                                                        CHONBURI  20150,  THAILAND

TELEPHONE  NO.                                :           -

 

ESTABLISHED                                    :           2015

REGISTRATION  NO.                           :           0205558018702

TAX  ID  NO.                                         :           -

CAPITAL REGISTERED                        :           BHT.   4,000,000

CAPITAL PAID-UP                                :           BHT.   4,000,000

SHAREHOLDER’S  PROPORTION        :           THAI          :   51.00%

                                                                        INDIAN      :   49.00%

FISCAL YEAR CLOSING DATE             :           -            

LEGAL  STATUS                                  :           PRIVATE  LIMITED  COMPANY

 

LINES  OF  BUSINESS                         :           RICE  AND  COALS

                                                                        EXPORTER

 

 

CORPORATE PROFILE                             

 

OPERATING  TREND                            :           EARLY  STAGE                       

 

 

HISTORY

 

The  subject  was  formed  on  June 30, 2015 as  a  private  limited  company  under  the  registered  name  CASTLE  GROUP  INTERNATIONAL  CO.,  LTD.,  by  Thai  and  Indian  groups,  with  the  business  objective  declared  to  the  Commercial  Registration  Department,   in  order  to  export  rice  and  coals.  

 

The  subject’s  registered  address  is  124/81  Moo  10,  T.  Nongprue,  A.  Banglamung, 

Chonburi  20150.

 

 

 

THE  BOARD  OF  DIRECTOR

 

     Name

 

Nationality

Age

 

 

 

 

Mr. Naveen  Arora

 

Indian

32

 

 

AUTHORIZED  PERSON

 

The  above  director   signs  on  behalf  of  the  subject  with  company’s  affixed.

 

 

COMMENT

 

The  subject  has  been  formed  in  June  2015.  It  is  a   newly  established  company   which    has  limited  information.    Any  business  engagement  should  be on  secured  basis  only.

 

 

REMARK

 

Please  be  informed  that  the  subject  was  untraceable.   There  is  no  company’s  contact  telephone  number  listed  at  the  telephone  directory  company.

 

 

FINANCIAL  INFORMATION

 

The  capital was  registered  at  Bht.  2,000,000  divided  into  20,000  shares  of  Bht. 100  each  with  fully  paid.

 

On  August  7,  2015,  the  registered  capital  was  increased  to  Bht.  4,000,000  divided  into    40,000  shares  of  Bht. 100  each  with  fully  paid.

 

 

THE  SHAREHOLDERS  LISTED  WERE 

 

[as  at  August  7,  2015]

 

       NAME

HOLDING

%

 

 

 

Ms.  Arunee  Sriphongam

Nationality:  Thai

Address     :  79  Moo  3,  T. Khaodinnua,  A. Bankruad,

                     Buriram 

20,400

51.00

Mr.  Naveen  Arora

Nationality:  Indian

Address     :  124/81  Moo  10,  T. Nongprue, 

                     A. Banglamung,  Chonburi 

  9,800

24.50

Mr.  Davinder  Singh  Nandra

Nationality:  Indian

Address     :  124/81  Moo  10,  T. Nongprue, 

                     A. Banglamung,  Chonburi 

  9,800

24.50

 

Total  Shareholders  :   3

 

Share  Structure  [as  at  August  7,  2015]

 

Nationality

Shareholders

No. of  Share

% Shares

 

 

 

 

Thai

1

20,400

51.00

Foreign - Indian

2

19,600

49.00

 

Total

 

3

 

40,000

 

100.00

 

 

NAME  OF  AUDITOR  &  CERTIFIED  PUBLIC  ACCOUNTANT  NO.

 

None

 

Note:

 

Due  to  the  subject  has  been  established  in  June  2015,  therefore  financial  information  is  not  yet   available.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.68

Euro

1

Rs.70.88

THB

1

Rs.1.87

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

 

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%)

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