MIRA
INFORM REPORT
|
Report No. : |
346328 |
|
Report Date : |
19.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUCHIT GEMS CO., LTD |
|
|
|
|
Registered Office : |
Suite No. 2110j, 21st Floor, Jewelry Trade Center, 919/272 Silom Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Year of establishment : |
1999 |
|
|
|
|
Com. Reg. No.: |
0105542091686 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in importing, distributing and re-exporting various kinds
of diamonds and gemstones,
as well as
exporting of local
diamonds, gemstones and
jewelry products. |
|
|
|
|
No. of Employee : |
4 |
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 |
B1 |
B1 |
|
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, generally pro-investment policies, and strong export industries, Thailand has had a strong economy due in part to industrial and agriculture exports - mostly electronics, agricultural commodities, automobiles and parts, and processed foods. Thailand attracts nearly 2.5 million migrant workers from neighboring countries. 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 economy has weathered both internal and external economic shocks in recent years. The global economic recession severely cut Thailand's exports, with most sectors experiencing double-digit drops. In late 2011 Thailand's recovery was interrupted by historic flooding in the industrial areas in Bangkok and its five surrounding provinces, crippling the manufacturing sector. Government approved flood mitigation projects, worth $11.7 billion, were started in 2012 to prevent a repeat. Thai growth slowed in 2013 and has remained low since, as the country faced political uncertainty and a coup in May 2014. The interim government is implementing a special $11 billion short-term stimulus package and has approved a budget of more than $80 billion to aid an economic rebound.
|
Source
: CIA |
Company name
RUCHIT GEMS
CO., LTD
SUMMARY
BUSINESS
ADDRESS : SUITE
NO. 2110J, 21st FLOOR,
JEWELRY TRADE CENTER,
919/272 SILOM
ROAD, SILOM, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2630-0552-3,
081 303-3999, 081
341-4659
FAX
: [66] 2630-0554
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0105542091686 [Former
: 1435/2542]
TAX
ID NO. : 3030063359
CAPITAL REGISTERED : BHT. 21,000,000
CAPITAL PAID-UP : BHT.
10,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN
: 49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
VIRAL KIRAN SHAH,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 4
LINES
OF BUSINESS : JEWELRY PRODUCTS
IMPORTER, DISTRIBUTOR
AND EXPORTER
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 November 26, 1999
as a private
limited company under
the name style RUCHIT
GEMS CO., LTD., by
Thai and Indian
groups, to be engaged in
importing, distributing and
exporting of jewelry
products. It currently employs
4 staff.
The
subject’s registered address
was initially at
223/35 Trok Puttaosot, Charoenkrung
Rd., Siphya, Bangrak, Bangkok
10500.
On
August 1, 2003 the subject’s
registered address was
relocated to Suite
No. 2110J,
21st Flr., Jewelry
Trade Center, 919/272
Silom
Rd., Silom, Bangrak, Bangkok 10500, and
this is the
subject’s current operation
address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Viral Kiran Shah |
[x] |
Indian |
39 |
|
Mr. Aatur Piyush Shah |
|
Indian |
33 |
AUTHORIZED PERSON
Only the above
director [x] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Viral Kiran Shah
is the Managing
Director.
He is Indian
nationality with the
age of 39
years old.
BUSINESS OPERATIONS
The subject is engaged in importing, distributing and re-exporting various kinds
of diamonds and gemstones,
as well as
exporting of local
diamonds, gemstones and
jewelry products.
PURCHASE
Most of diamonds
and gemstones are
imported from India,
Japan, Russia, Hong Kong
and South Africa,
and the jewelry
products are purchased
from local suppliers.
EXPORT
The jewelry products
are exported and
re-exported to India,
Japan, Republic of
China, Hong Kong, Singapore, U.A.E., Bahrain
and other countries
in Middle East
and Europe.
SALES [LOCAL]
The products are
sold to wholesalers,
manufacturers and end-users.
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
for 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
L/C at sight
or T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs 4
staff.
LOCATION DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
COMMENT
The
subject reported a
decrease in its
operating performance in
2013 from slow
consumption and economy
sluggish in USA and EU markets. However,
an overall jewelry
industry in domestic market seemed
to grow slowly
since the end
of year 2013
and continued into
2014 caused by economic
slowdown and political
uncertainty.
While
overall consumption in the
first five months of
2015 remains slow, it is estimated
that its business
would growth at
slow pace for the
entire year.
FINANCIAL INFORMATION
The
capital was registered at Bht. 2,000,000
divided into 20,000 shares of Bht. 100 each.
The
capital was increased
later as following:
Bht.
6,000,000 on June
27, 2002
Bht.
10,000,000 on November
12, 2004
Bht.
21,000,000 on April
1, 2015
The latest
registered capital was
increased to Bht. 21,000,000
divided into 210,000 shares
of Bht. 100
each, with the
current capital paid-up
at Bht. 10,000,000.
THE SHAREHOLDERS LISTED WERE
[as
at April 30,
2014] at Bht. 10,000,000
of capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Viral Kiran Shah Nationality: Indian Address : 504 Tripuone, Rimland Theater,
Mumbai, India |
35,000 |
35.00 |
|
Mr. Aatur Piyush Shah Nationality: Indian Address : 504 Tripuone, Rimland Theater,
Mumbai, India |
14,000 |
14.00 |
|
Mr. Santi Leechalard Nationality: Thai Address : 86 Krungkasem
Rd., Mahanark, Pomprabsattrupai,
Bangkok |
11,000 |
11.00 |
|
Mr. Narong Promsin Nationality: Thai Address : 84 Krungkasem
Rd., Klongmahanark, Pomprabsattrupai,
Bangkok |
10,000 |
10.00 |
|
Mr. Manas Oreeparb Nationality: Thai Address : 84 Krungkasem
Rd., Klongmahanark, Pomprabsattrupai,
Bangkok |
10,000 |
10.00 |
|
Mr. Boonlai Lualon Nationality: Thai Address : 55
Moo 12, T. Nongchon, A. Chiangyuen, Mahasarakarm |
10,000 |
10.00 |
|
Mrs. Ratchada Wongwian Nationality: Thai Address : 267 Tadindaeng
Rd., Somdejchaopraya, Klongsarn, Bangkok |
10,000 |
10.00 |
Total Shareholders : 7
Share Structure [as
at April 30,
2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
5 |
51,000 |
51.00 |
|
Foreign-Indian |
2 |
49,000 |
49.00 |
|
Total |
7 |
100,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Pisanuporn
Phatibandit
No. 6530
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2013, 2012
& 2011 were:
ASSETS
|
Current Assets |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Cash and Cash Equivalents
|
291,805.05 |
686,063.73 |
220,664.56 |
|
Trade Accounts Receivable |
14,961,603.80 |
11,311,706.63 |
17,539,282.77 |
|
Inventories |
111,604,100.55 |
83,944,227.21 |
61,003,401.02 |
|
Premature Business Tax |
6,860.62 |
4,965.42 |
8,061.54 |
|
Other Current Assets |
27,518.97 |
30,405.36 |
38,750.51 |
|
|
|
|
|
|
Total Current Assets
|
126,891,888.99 |
95,977,368.35 |
78,810,160.40 |
|
Fixed Assets |
1,037,126.36 |
1,277,003.16 |
100,982.97 |
|
Total Assets |
127,929,015.35 |
97,254,371.51 |
78,911,143.37 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Bank Overdraft from Financial Institutions |
- |
- |
1,361,575.30 |
|
Trade Accounts Payable |
57,707,972.25 |
38,523,947.45 |
15,345,931.39 |
|
Other Payable |
183,730.45 |
203,081.54 |
275,567.60 |
|
|
|
|
|
|
Total Current Liabilities |
57,891,702.70 |
38,727,028.99 |
16,983,074.29 |
|
Account Payable -
Loan from Bank |
20,266,781.03 |
9,752,456.74 |
13,844,205.80 |
|
Account Payable -
Loan from Directors |
49,209,515.81 |
42,528,052.31 |
42,261,704.08 |
|
Total Liabilities |
127,367,999.54 |
91,007,538.04 |
73,088,984.17 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 100,000 shares |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
|
|
|
|
|
Capital Paid |
10,000,000.00 |
10,000,000.00 |
10,000,000.00 |
|
Unappropriated [Deficit] |
[9,438,984.19] |
[3,753,166.53] |
[4,177,840.80] |
|
Total Shareholders' Equity |
561,015.81 |
6,246,833.47 |
5,822,159.20 |
|
Total Liabilities &
Shareholders' Equity |
127,929,015.35 |
97,254,371.51 |
78,911,143.37 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2013 |
2012 |
2011 |
|
|
|
|
|
|
Sales - Overseas |
64,490,085.26 |
55,516,963.10 |
71,036,245.84 |
|
Sales - Domestic
with Value Added
Tax |
760,271.91 |
5,552,354.07 |
2,870,672.63 |
|
Sales - Domestic
without Value Added
Tax |
437,281.67 |
130,514.18 |
2,730,648.25 |
|
Gain from Exchange
Rate |
- |
1,735,562.85 |
- |
|
Other Income |
- |
42,921.83 |
- |
|
Total Revenues |
65,687,638.84 |
62,978,316.03 |
76,637,566.72 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
64,094,317.29 |
59,589,417.69 |
73,435,643.75 |
|
Selling Expenses |
4,427,240.30 |
77,157.15 |
100,439.91 |
|
Administrative Expenses |
1,992,717.83 |
2,101,425.60 |
2,008,324.17 |
|
Total Expenses |
70,514,275.42 |
61,768,000.44 |
75,544,407.83 |
|
|
|
|
|
|
Profit / [Loss] before
Financial Cost & Income Tax |
[4,826,636.58] |
1,210,315.59 |
1,093,158.89 |
|
Financial Cost |
[718,583.74] |
[646,198.88] |
[420,193.20] |
|
Income Tax |
[140,597.34] |
[139,442.44] |
[226,980.11] |
|
|
|
|
|
|
Net Profit / [Loss] |
[5,685,817.66] |
424,674.27 |
445,985.58 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2013 |
2012 |
2011 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.19 |
2.48 |
4.64 |
|
QUICK RATIO |
TIMES |
0.26 |
0.31 |
1.05 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
63.34 |
47.92 |
758.92 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.51 |
0.63 |
0.97 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
635.56 |
514.18 |
303.21 |
|
INVENTORY TURNOVER |
TIMES |
0.57 |
0.71 |
1.20 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
83.14 |
67.46 |
83.53 |
|
RECEIVABLES TURNOVER |
TIMES |
4.39 |
5.41 |
4.37 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
328.63 |
235.97 |
76.27 |
|
CASH CONVERSION CYCLE |
DAYS |
390.06 |
345.67 |
310.47 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
97.57 |
97.37 |
95.82 |
|
SELLING & ADMINISTRATION |
% |
9.77 |
3.56 |
2.75 |
|
INTEREST |
% |
1.09 |
1.06 |
0.55 |
|
GROSS PROFIT MARGIN |
% |
2.43 |
5.54 |
4.18 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(7.35) |
1.98 |
1.43 |
|
NET PROFIT MARGIN |
% |
(8.66) |
0.69 |
0.58 |
|
RETURN ON EQUITY |
% |
(1,013.49) |
6.80 |
7.66 |
|
RETURN ON ASSET |
% |
(4.44) |
0.44 |
0.57 |
|
EARNING PER SHARE |
BAHT |
(56.86) |
4.25 |
4.46 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
1.00 |
0.94 |
0.93 |
|
DEBT TO EQUITY RATIO |
TIMES |
227.03 |
14.57 |
12.55 |
|
TIME INTEREST EARNED |
TIMES |
(6.72) |
1.87 |
2.60 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
7.33 |
(20.14) |
|
|
OPERATING PROFIT |
% |
(498.79) |
10.72 |
|
|
NET PROFIT |
% |
(1,438.87) |
(4.78) |
|
|
FIXED ASSETS |
% |
(18.78) |
1,164.57 |
|
|
TOTAL ASSETS |
% |
31.54 |
23.25 |
|
ANNUAL GROWTH: ACCEPTABLE
An annual sales growth is 7.33%. Turnover has increased from THB
61,199,831.35 in 2012 to THB 65,687,638.84 in 2013. While net profit has
decreased from THB 424,674.27 in 2012 to THB -5,685,817.66 in 2013. And total
assets has increased from THB 97,254,371.51 in 2012 to THB 127,929,015.35 in
2013.
PROFITABILITY :
RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
2.43 |
Satisfactory |
Industrial
Average |
3.01 |
|
Net Profit Margin |
(8.66) |
Deteriorated |
Industrial
Average |
0.58 |
|
Return on Assets |
(4.44) |
Deteriorated |
Industrial
Average |
3.55 |
|
Return on Equity |
(1,013.49) |
Deteriorated |
Industrial
Average |
14.14 |
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 2.43%. 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 -8.66%.
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 -4.44%.
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 -1013.49%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
2.19 |
Impressive |
Industrial
Average |
1.60 |
|
Quick Ratio |
0.26 |
|
|
|
|
Cash Conversion Cycle |
390.06 |
|
|
|
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 2.19 times in 2013, decreased from 2.48 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 0.26 times in 2013,
decreased from 0.31 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 391 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE : RISKY
LEVERAGE RATIO
|
Debt Ratio |
1.00 |
Acceptable |
Industrial
Average |
0.73 |
|
Debt to Equity Ratio |
227.03 |
Risky |
Industrial
Average |
2.73 |
|
Times Interest Earned |
(6.72) |
Risky |
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 -6.72 lower than 1, so the company is not generating
enough cash from EBIT to meet its
interest obligations.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 1 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 :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
63.34 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.51 |
Deteriorated |
Industrial
Average |
6.16 |
|
Inventory Conversion Period |
635.56 |
|
|
|
|
Inventory Turnover |
0.57 |
Deteriorated |
Industrial
Average |
12.03 |
|
Receivables Conversion Period |
83.14 |
|
|
|
|
Receivables Turnover |
4.39 |
Acceptable |
Industrial
Average |
8.23 |
|
Payables Conversion Period |
328.63 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.39 and 5.41 in
2013 and 2012 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 2013
decreased from 2012. This would suggest the company had deteriorated 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 514 days at the
end of 2012 to 636 days at the end of 2013. This represents a negative trend.
And Inventory turnover has decreased from 0.71 times in year 2012 to 0.57 times
in year 2013.
The company's Total Asset Turnover is calculated as 0.51 times and 0.63
times in 2013 and 2012 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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.97 |
|
UK Pound |
1 |
Rs.100.55 |
|
Euro |
1 |
Rs.73.99 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.