MIRA INFORM REPORT
|
Report No. : |
345498 |
|
Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
PINKLAO MARBLE & GRANITE
CO., LTD. |
|
|
|
|
Registered Office : |
44
Chalermkhet 4 Road,
Wad Thepsirin, Pomprabsattrupai,
Bangkok 10100 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Year of Establishment : |
1990 |
|
|
|
|
Com. Reg. No.: |
0105533050867 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is importer and distributor
of marbles and
granites, artificial stones
and Quartz surfaces,
as well as
adhesive glues for
flooring systems. |
|
|
|
|
No. of Employee : |
36 |
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 |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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’�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
PINKLAO MARBLE
& GRANITE CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 44
CHALERMKHET 4 ROAD,
WAD THEPSIRIN,
POMPRABSATTRUPAI, BANGKOK
10100,
THAILAND
TELEPHONE : [66] 2223-6300,
2621-6274-5, 2884-4115-6
FAX :
[66] 2621-6275
E-MAIL
ADDRESS : sujin_pruksananont@hotmail.com
sales@pinklaomarble.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1990
REGISTRATION
NO. : 0105533050867 [Former :
5085/2533]
TAX
ID NO. : 3101829167
CAPITAL REGISTERED : BHT. 5,000,000
CAPITAL PAID-UP : BHT.
5,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SUJIN PRUKSANANONT,
THAI
MANAGING DIRECTOR
NO.
OF STAFF : 36
LINES
OF BUSINESS : MARBLES AND
GRANITES
IMPORTER, DISTRIBUTOR
AND CONTRACTOR
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 May 3,
1990 as a
private limited company
under the registered
name PINKLAO MARBLE
& GRANITE CO., LTD., by Thai
groups, in order
to distribute and service
of marbles and granites
to local market. It
currently employs
approximately 36 staff.
The
subject’s registered address
is 44 Chalermkhet
4 Rd., Wad Thepsirin,
Pomprabsattrupai, Bangkok 10100,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Ms. Siriwan Sahawutiwongsa |
|
Thai |
58 |
|
Mr. Visith Pruksananont |
|
Thai |
52 |
|
Mr. Sujin Pruksananont |
|
Thai |
57 |
|
Mrs. Chutima Pongkittilah |
|
Thai |
60 |
AUTHORIZED PERSON
Any of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Sujin Pruksananont is
the Managing Director.
He is Thai
nationality with the
age of 57
years old.
BUSINESS OPERATIONS
The subject’s activities
are importer and
distributor of marbles
and granites, artificial
stones and Quartz
surfaces, as well
as adhesive glues
for flooring systems.
Subject is also
a contractor of
floor installation and
decoration of marble
and granites. Most
of the projects
are department store,
office building, hotel & resort, house
& condominium.
MAJOR BRANDS
“MARMOL COMPAC” and
“TENAX”
PURCHASE
80%
of the products
is purchased from
local manufacturers, and
the remaining 20%
is imported from
Spain, Italy, Canada,
Australia, India and
Republic of China.
MAJOR SUPPLIER
Tenax S.p.a. : Italy
SALES [LOCAL]
100%
of the products
is sold locally
by wholesale and
retail to contractors
and
end-users.
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.
SUBSIDIARY AND
AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
CREDIT
Sales
and services 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.
BUSINESS TRANSACTION
The
products are sold and
serviced by cash
and credit, with the maximum credit given at
30-60 days. The
subject is not
found to have
problem on its
account receivable.
BANKING
Bangkok
Bank Public Co., Ltd.
[Head Office : 333 Silom Rd.,
Silom, Bangrak, Bangkok
10500]
Kasikornbank
Public Co., Ltd.
[Head Office : 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok 10150]
EMPLOYMENT
The
subject employs 36
staff [office, sales staff and service workers].
LOCATION DETAILS
The
premise is rented
for administrative office
in a 3
storey building of
2 row shop
houses
at the heading
address. Premise is
located in commercial/residential area.
Showroom
is located at
205/2 Boromratchonni Rd.,
Chimplee, Talingchan, Bangkok
10700.
COMMENT
The
subject’s operating performance in 2014
was satisfactory with an increase
in both sales
& service revenues
and net profit
comparing to the
previous year. Its
products and service
are in demand
of the market
from small to
medium construction projects.
Generally, the subject
enjoys steady growth
from repair segment
and construction sector.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000 divided
into 10,000 shares of
Bht.
100 each.
On
September 11, 2008,
the capital was increased
to Bht. 5,000,000 divided
into 50,000 shares
of Bht. 100
each, with fully
paid-up.
THE SHAREHOLDERS
LISTED WERE
[as
at April 30,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Sujin Pruksananont Nationality: Thai Address :
44 Chalermkhet 4 Rd., Wad
Thepsirin,
Pomprabsattrupai, Bangkok 10100 |
25,001 |
50.00 |
|
Ms. Siriwan Sahawutiwongsa Nationality: Thai Address : 204/9
Moo 6, Praves, Phrakanong,
Bangkok |
10,495 |
20.99 |
|
Mr. Komkrish Pruksananont Nationality: Thai Address : 44 Chalermkhet 4 Rd.,
Wad Thepsirin,
Pomprabsattrupai, Bangkok 10100 |
3,266 |
6.53 |
|
Mr. Vachara Pruksananont Nationality: Thai Address : 44 Chalermkhet 4 Rd.,
Wad Thepsirin,
Pomprabsattrupai, Bangkok 10100 |
3,266 |
6.53 |
|
Ms. Alisa Pruksananont Nationality: Thai Address : 44 Chalermkhet 4 Rd.,
Wad Thepsirin,
Pomprabsattrupai, Bangkok 10100 |
3,266 |
6.53 |
|
Mr. Visith Pruksananont Nationality: Thai Address : 44 Chalermkhet 4 Rd.,
Wad Thepsirin,
Pomprabsattrupai, Bangkok 10100
|
2,353 |
4.71 |
|
Mrs. Chutima Pongkittilah Nationality: Thai Address :
86/60 Moo 6, T. Tarnkasem, A. Phraputhabart,
Saraburi |
2,353 |
4.71 |
Total Shareholders : 7
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
50,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
50,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Phakpoom Thaweewittayarut No.
4884
Financials
PINKLAO MARBLE & GRANITE
CO., LTD.
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 |
696,665.38 |
327,829.72 |
2,474,716.04 |
|
Trade Accounts &
Other Receivable |
12,899,320.97 |
6,827,757.32 |
9,634,226.66 |
|
Short-term Loans |
5,500,000.00 |
15,400,000.00 |
- |
|
Inventories |
42,204,120.00 |
35,003,370.00 |
37,428,996.00 |
|
Other Current Assets
|
974,348.68 |
155,700.93 |
- |
|
|
|
|
|
|
Total Current Assets
|
62,274,455.03 |
57,714,657.97 |
49,537,938.70 |
|
|
|
|
|
|
Long-term Loans |
15,400,000.00 |
- |
- |
|
Fixed Assets |
2,432,742.56 |
2,546,069.46 |
734,199.85 |
|
Other Non-current Assets |
162,000.00 |
162,000.00 |
162,000.00 |
|
Total Assets |
80,269,197.59 |
60,422,727.43 |
50,434,138.55 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
45,925.77 |
7,175,184.04 |
17,717,824.73 |
|
Trade Accounts & Other
Payable |
44,386,876.17 |
20,403,205.57 |
2,747,424.75 |
|
Short-term Loans |
- |
- |
670,000.00 |
|
Current Portion of
Long-term Lease Contract Liabilities |
648,527.16 |
629,211.31 |
123,420.60 |
|
Accrued Income Tax |
438,686.77 |
82,432.17 |
19,530.34 |
|
Other Current Liabilities |
136,882.98 |
243,624.74 |
269,609.28 |
|
|
|
|
|
|
Total Current Liabilities |
45,656,898.85 |
28,533,657.83 |
21,547,809.70 |
|
Long-term Lease Contract Liabilities,
Net |
806,436.58 |
1,176,367.48 |
71,995.35 |
|
Provision for Employee
Benefits |
312,257.02 |
279,644.50 |
273,015.32 |
|
Total Liabilities |
46,775,592.45 |
29,989,669.81 |
21,892,820.37 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital
50,000 shares |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
|
|
|
|
|
Capital Paid |
5,000,000.00 |
5,000,000.00 |
5,000,000.00 |
|
Retained Earning -
Unappropriated |
28,493,605.14 |
25,433,057.62 |
23,541,318.18 |
|
Total Shareholders' Equity |
33,493,605.14 |
30,433,057.62 |
28,541,318.18 |
|
Total Liabilities &
Shareholders' Equity |
80,269,197.59 |
60,422,727.43 |
50,434,138.55 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
55,553,080.46 |
43,272,120.68 |
53,992,739.34 |
|
Service Income |
64,189,045.86 |
30,668,499.94 |
47,878,015.01 |
|
Other Income |
2,921,302.90 |
862,155.54 |
1,099,588.76 |
|
Total Revenues |
122,663,429.22 |
74,802,776.16 |
102,970,343.11 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
47,495,579.50 |
36,779,419.77 |
48,291,246.13 |
|
Cost of Service |
56,785,852.79 |
24,866,617.54 |
43,501,796.76 |
|
Administrative Expenses |
12,716,929.44 |
9,203,372.74 |
7,470,565.09 |
|
Other Expenses |
398,826.96 |
1,286,608.79 |
308,915.79 |
|
Total Expenses |
117,397,188.69 |
72,136,018.84 |
99,572,523.77 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
5,266,240.53 |
2,666,757.32 |
3,397,819.34 |
|
Financial Cost |
[1,393,868.52] |
[281,272.54] |
[641,368.38] |
|
Profit / [Loss] before Income
Tax |
3,872,372.01 |
2,385,484.78 |
2,756,450.96 |
|
Income Tax |
[811,824.49] |
[493,745.34] |
[685,944.93] |
|
|
|
|
|
|
Net Profit / [Loss] |
3,060,547.52 |
1,891,739.44 |
2,070,506.03 |
PINKLAO MARBLE
& GRANITE CO.,
LTD.
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.36 |
2.02 |
2.30 |
|
QUICK RATIO |
TIMES |
0.42 |
0.79 |
0.56 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
49.22 |
29.04 |
138.75 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.49 |
1.22 |
2.02 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
147.72 |
207.25 |
148.83 |
|
INVENTORY TURNOVER |
TIMES |
2.47 |
1.76 |
2.45 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
39.32 |
33.70 |
34.52 |
|
RECEIVABLES TURNOVER |
TIMES |
9.28 |
10.83 |
10.57 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
155.36 |
120.81 |
10.92 |
|
CASH CONVERSION CYCLE |
DAYS |
31.68 |
120.15 |
172.42 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.09 |
83.37 |
90.11 |
|
SELLING & ADMINISTRATION |
% |
10.62 |
12.45 |
7.33 |
|
INTEREST |
% |
1.16 |
0.38 |
0.63 |
|
GROSS PROFIT MARGIN |
% |
15.35 |
17.79 |
10.97 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.40 |
3.61 |
3.34 |
|
NET PROFIT MARGIN |
% |
2.56 |
2.56 |
2.03 |
|
RETURN ON EQUITY |
% |
9.14 |
6.22 |
7.25 |
|
RETURN ON ASSET |
% |
3.81 |
3.13 |
4.11 |
|
EARNING PER SHARE |
BAHT |
61.21 |
37.83 |
41.41 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.58 |
0.50 |
0.43 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.40 |
0.99 |
0.77 |
|
TIME INTEREST EARNED |
TIMES |
3.78 |
9.48 |
5.30 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
61.94 |
(27.42) |
|
|
OPERATING PROFIT |
% |
97.48 |
(21.52) |
|
|
NET PROFIT |
% |
61.78 |
(8.63) |
|
|
FIXED ASSETS |
% |
(4.45) |
246.78 |
|
|
TOTAL ASSETS |
% |
32.85 |
19.81 |
|
ANNUAL GROWTH :
IMPRESSIVE
An annual sales growth is 61.94%.
Turnover has increased from THB 73,940,620.62 in 2013 to THB 119,742,126.32 in
2014. While net profit has increased from THB 1,891,739.44 in 2013 to THB
3,060,547.52 in 2014. And total assets has increased from THB 60,422,727.43 in
2013 to THB 80,269,197.59 in 2014.
PROFITABILITY :
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
15.35 |
Satisfactory |
Industrial
Average |
17.53 |
|
Net Profit Margin |
2.56 |
Impressive |
Industrial
Average |
1.35 |
|
Return on Assets |
3.81 |
Impressive |
Industrial
Average |
2.35 |
|
Return on Equity |
9.14 |
Impressive |
Industrial Average |
7.52 |
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 15.35%. 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. Net Profit Margin ratio is 2.56%,
higher figure when compared with those of its average competitors in the same
industry, indicated that business was an efficient operator 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
3.81%, 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 9.14%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.36 |
Satisfactory |
Industrial
Average |
1.39 |
|
Quick Ratio |
0.42 |
|
|
|
|
Cash Conversion Cycle |
31.68 |
|
|
|
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 1.36 times in 2014, decrease from 2.02 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 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 0.42 times in 2014,
decrease from 0.79 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 32 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.58 |
Impressive |
Industrial
Average |
0.70 |
|
Debt to Equity Ratio |
1.40 |
Satisfactory |
Industrial Average |
2.32 |
|
Times Interest Earned |
3.78 |
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 3.78 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 0.58 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 |
49.22 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.49 |
Satisfactory |
Industrial
Average |
1.74 |
|
Inventory Conversion Period |
147.72 |
|
|
|
|
Inventory Turnover |
2.47 |
Acceptable |
Industrial
Average |
3.76 |
|
Receivables Conversion Period |
39.32 |
|
|
|
|
Receivables Turnover |
9.28 |
Impressive |
Industrial
Average |
4.38 |
|
Payables Conversion Period |
155.36 |
|
|
|
The company's Account Receivable Ratio is calculated as 9.28 and 10.83 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
decreased from 2013. 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 decreased from 207 days at the
end of 2013 to 148 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 1.76 times in year 2013 to 2.47 times
in year 2014.
The company's Total Asset Turnover is calculated as 1.49 times and 1.22
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 Downtrend
Inventory Turnover Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.82 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.