MIRA INFORM REPORT
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Report No. : |
344306 |
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Report Date : |
10.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
CML MED-SURGE
CO., LTD. |
|
|
|
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Registered Office : |
15th Floor, Thaisri Tower, 126/58 Krungthonburi Road, Banglampoolang, Klongsan, Bangkok 10600 |
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|
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Country : |
Thailand |
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|
|
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Financials (as on) : |
31.12.2014 |
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|
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Date of Incorporation : |
26.06.2014 |
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Com. Reg. No.: |
0105557090656 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importer and Distributor of Medical Equipment and Instruments. |
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No. of Employees : |
3 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
-- |
NB |
New Business |
-- |
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Maximum Credit Limit : |
US$ 50,000 |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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’tat, 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
CML MED-SURGE CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 15th FLOOR,
THAISRI TOWER,
126/58 KRUNGTHONBURI
ROAD, BANGLAMPOOLANG,KLONGSAN, BANGKOK
10600, THAILAND
TELEPHONE : [66] 2860-8909
FAX :
[66] 2860-8909
E-MAIL
ADDRESS : kitja_jean@yahoo.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 2014
REGISTRATION
NO. : 0105557090656
TAX
ID NO. : 3036551942
CAPITAL REGISTERED : BHT. 7,000,000
CAPITAL PAID-UP : BHT.
5,500,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
KITJA JEANRAJITAREE, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 3
LINES
OF BUSINESS : MEDICAL EQUIPMENT
AND INSTRUMENTS
IMPORTER
AND DISTRIBUTOR
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on June 26, 2014 as
a private limited
company under the
registered name CML MED-SURGE CO., LTD., by Thai group, with the
business objective to
import and distribute medical
equipments and instruments.
It currently employs
3 staff.
The
subject’s registered address is 15th Floor, Thaisri Tower, 126/58
Krungthonburi Road,
Banglampoolang, Klongsan, Bangkok
10600, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Kitja Jeanrajitaree |
[x] |
Thai |
53 |
|
Mr. Tanakorn Ounpiyodom |
|
Thai |
56 |
|
Mrs. Lakana Ounpiyodom |
|
Thai |
54 |
AUTHORIZED
PERSON
Only the mentioned
director [x] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Kitja Jeanrajitaree is
the Managing Director.
He is Thai
nationality with the
age of 53 years
old.
BUSINESS
OPERATIONS
The subject
is engaged in importing
and distributing of medical
equipment and
Instruments such
as surgical equipments
and medical supplies.
Its business operation
has been started
in the beginning
of 2015.
PURCHASE
70% of the
products is purchased
from local suppliers,
the remaining 30%
is imported from
Republic of China,
Japan, and India.
SALES
100% of the
products is sold
locally by wholesale
to traders and
end-users, mainly hospital
of both private
and government sectors.
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
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject currently employs
3 staff.
LOCATION
DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in commercial/residential area.
REMARK
MAXIMUM
CREDIT SHOULD BE
GRANTED AT US$ 50,000.
COMMENT
The subject
was established in
June 2014. It
reported no sales
income at the
end of year 2014. However,
its operation has
been started in
the beginning of
2015, therefore any
business engagement should
be on secured
basis only.
FINANCIAL
INFORMATION
The
capital was registered at Bht. 5,000,000 divided into 50,000 shares of
Bht. 100 each with fully
paid.
On
June 2, 2015,
the registered capital
was increased to
Bht. 7,000,000 divided
into 70,000 shares
of Bht. 100 each, with
the current capital
paid-up at Bht.
5,050,000 or 50,000
shares of Bht. 100
each and 20,000
shares of Bht.
25 each.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 30, 2015]
at Bht. 5,050,000
of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Kitja Jeanrajitaree Nationality: Thai Address : 998/121
Onnuch Road, Suanluang,
Bangkok |
35,000 |
50.00 |
|
Mr. Tanakorn Ounpiyodom Nationality: Thai Address : 545
Soi Krungthon 6,
Krungthonburi Road,
Banglampoolang, Klongsan, Bangkok |
10,000 |
14.29 |
|
Mrs. Lakana Ounpiyodom Nationality: Thai Address : 545
Soi Krungthon 6, Krungthonburi Road, Banglampoolang, Klongsan,
Bangkok |
10,000 |
14.29 |
|
Mrs. Prapassorn Piamkulvanich Nationality: Thai Address : 9
Moo 6, T. Bangpoomai, A. Muang,
Samutprakarn |
10,000 |
14.29 |
|
Mr. Siriwat Kunaporn Nationality: Thai Address : 12
Soi Petchkasem 21,
Yaek 6,
Pakklongpasicharoen,
Pasicharoen,
Bangkok |
5,000 |
7.13 |
Total Shareholders : 5
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
70,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
70,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Ms. Woranath Khemasiri No. 10569
BALANCE
SHEET [BAHT]
The
latest financial figures
published for December
31, 2014 was :
ASSETS
|
Current Assets |
2014 |
|
|
|
|
Cash and Cash Equivalents
|
909,268.98 |
|
Trade Account & Other
Receivable |
111,794.66 |
|
Inventories |
1,314,237.09 |
|
|
|
|
Total Current Assets
|
2,335,300.73 |
|
|
|
|
Long-term Loans |
500,000.00 |
|
Total Assets |
2,835,300.73 |
LIABILITIES & SHAREHOLDERS'
EQUITY [BAHT]
|
Current
Liabilities |
2014 |
|
|
|
|
Trade Account & Other
Payable |
178,141.42 |
|
|
|
|
Total Current Liabilities |
178,141.42 |
|
Total Liabilities |
178,141.42 |
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
Share capital : Baht 100
value authorized and
issued paid share
capital 50,000 shares |
5,000,000.00 |
|
|
|
|
Capital Paid |
3,500,000.00 |
|
Retained Earning -
Unappropriated [Deficit] |
[842,840.69] |
|
Total Shareholders' Equity |
2,657,159.31 |
|
Total Liabilities & Shareholders'
Equity |
2,835,300.73 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
June 26,
2014 - Dec. 31,
2014 |
|
|
|
|
Interest Income |
6,553.69 |
|
Total Revenues |
6,553.69 |
|
Expenses |
|
|
|
|
|
Selling Expenses |
250,333.09 |
|
Administrative Expenses |
599,061.29 |
|
Total Expenses |
849,394.38 |
|
|
|
|
Loss before Income Tax
|
[842,840.69] |
|
Income Tax |
- |
|
Net Profit / [Loss] |
[842,840.69] |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
CURRENT RATIO |
TIMES |
13.11 |
|
QUICK RATIO |
TIMES |
5.73 |
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
- |
|
TOTAL ASSETS TURNOVER |
TIMES |
- |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
|
INVENTORY TURNOVER |
TIMES |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
- |
|
RECEIVABLES TURNOVER |
TIMES |
- |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
|
CASH CONVERSION CYCLE |
DAYS |
- |
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
COST OF GOODS SOLD |
% |
- |
|
SELLING & ADMINISTRATION |
% |
- |
|
INTEREST |
% |
- |
|
GROSS PROFIT MARGIN |
% |
- |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
- |
|
NET PROFIT MARGIN |
% |
- |
|
RETURN ON EQUITY |
% |
(31.72) |
|
RETURN ON ASSET |
% |
(29.73) |
|
EARNING PER SHARE |
BAHT |
(24.08) |
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
DEBT RATIO |
TIMES |
0.06 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.07 |
|
TIME INTEREST EARNED |
TIMES |
- |
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
- |
|
Industrial
Average |
169.71 |
|
Net Profit Margin |
- |
|
Industrial
Average |
2.93 |
|
Return on Assets |
(29.73) |
Deteriorated |
Industrial
Average |
7.28 |
|
Return on Equity |
(31.72) |
Deteriorated |
Industrial
Average |
16.88 |
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 -29.73%.
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 -31.72%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
13.11 |
Impressive |
Industrial
Average |
1.63 |
|
Quick Ratio |
5.73 |
|
|
|
|
Cash Conversion Cycle |
- |
|
|
|
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 13.11 times in 2014, increase from 0 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 5.73 times in 2014,
increase from 0 times, although excluding inventory so the company still have
good short-term financial strength.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.06 |
Impressive |
Industrial Average |
0.57 |
|
Debt to Equity Ratio |
0.07 |
Impressive |
Industrial Average |
1.30 |
|
Times Interest Earned |
- |
|
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 lower the percentage means that the company is using less leverage
and has a stronger equity position.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.06 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Stable
ACTIVITY : RISKY
ACTIVITY RATIO
|
Fixed Assets Turnover |
- |
|
Industrial Average |
- |
|
Total Assets Turnover |
- |
|
Industrial Average |
2.48 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
6.47 |
|
Receivables Conversion Period |
- |
|
|
|
|
Receivables Turnover |
- |
|
Industrial Average |
3.16 |
|
Payables Conversion Period |
- |
|
|
|
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.64.78 |
|
|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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.