MIRA INFORM REPORT
|
Report No. : |
345756 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
ITOCHU [THAILAND] LTD. |
|
|
|
|
Registered Office : |
5th Floor, Harindhorn Tower, 54 North Sathorn Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Date of Incorporation : |
25.07.1974 |
|
|
|
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Com. Reg. No.: |
0105517008835 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
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Line of Business : |
Subject is engaged in importer, distributor, exporter and broker agent a wide variety of goods, e.g. textile, energy, metals & minerals, chemicals, food, plastic, machinery, forestry products and general merchandises. |
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|
|
|
No. of Employees : |
160 |
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 |
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|
Payment Behaviour : |
No Complaints |
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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 |
B1 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company
name
ITOCHU
[THAILAND] LTD.
SUMMARY
BUSINESS
ADDRESS : 5th FLOOR,
HARINDHORN TOWER,
54 NORTH
SATHORN ROAD, SILOM,
BANGRAK, BANGKOK
10500, THAILAND
TELEPHONE : [66] 266-3086
FAX :
[66] 266-3132-3,
2234-3920, 2235-9536
E-MAIL
ADDRESS : itochuplas@itochu.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1974
REGISTRATION
NO. : 0105517008835 [Former: 890/2517]
TAX
ID NO. : 3101076264
CAPITAL REGISTERED : BHT. 600,000,000
CAPITAL PAID-UP : BHT.
600,000,000
SHAREHOLDER’S PROPORTION : JAPANESE :
100%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SHIGENOBU MATSUMOTO,
JAPANESE
PRESIDENT
NO.
OF STAFF : 160
LINES
OF BUSINESS : INTERNATIONAL TRADING
COMPANY
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 July
25, 1974 as
a private limited
company under the
registered name “Siam Associated Trade Co.,
Ltd.” by Japanese
groups. On March
16, 1988, the
subject’s name was
changed to “C.I.
[Thailand] Co., Ltd.”, and
changed to the
present name ITOCHU
[THAILAND] LTD., on
September 29, 1992.
The business objective
is engaged in
international trading business.
It currently employs
approximately 160 staff.
The subject’s registered
address is 5th Flr.,
Harindhorn Tower, 54 North Sathorn Rd., Silom,
Bangrak, Bangkok 10500, and
this is the
company’s current operation
address.
THE BOARD
OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Shigenobu Matsumoto |
[x] |
Japanese |
56 |
|
Mr. Hajime Nakamura |
[x] |
Japanese |
50 |
|
Mr. Oji Nakazawa |
|
Japanese |
53 |
AUTHORIZED PERSON
One of the above mentioned
directors [x] can sign on behalf
of the subject with company’s
affixed.
MANAGEMENT
Mr. Shigenobu Matsumoto is the
President.
He is Japanese
nationality with the
age of 56
years old.
Mr. Hajime Nakamura
is the VP & Financial & Accounting Manager.
He is Japanese
nationality with the
age of 50
years old.
Mr. Soigi Murakami is
the Machinery Department
Manager.
He is Japanese
nationality.
Mr. Hiroya Nishikawa is
the Textile Department Manager.
He is Japanese
nationality.
Mr. Makoto Inoue is
the General Merchandising
Department Manager [Forest Product].
He is Japanese
nationality.
Mr. Yoichi Chonan is
the Industrial Chemical
Department Manager.
He is Japanese
nationality.
Mr. Nobutoshi Morita is
the Plastic Department
Manager.
He is Japanese
nationality.
Mr. Keniji Tai is
the Food Department
Manager.
He is Japanese
nationality.
Mr. Pongthong Chavarung
is the General
Affairs & Human Resources Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activities
are importer, distributor,
exporter and broker agent a wide variety
of goods, e.g. textile, energy, metals & minerals,
chemicals, food, plastic,
machinery, forestry products and
general merchandises.
PURCHASE
The products are
purchased from both
local and overseas
suppliers in Japan,
Singapore, Australia, United States of America, Republic of
China, Canada, Indonesia, Taiwan,
India, Korea, Hong
Kong and European
countries.
SALES [LOCAL]
Its products are
sold locally to
manufacturers and wholesalers.
EXPORT [COUNTRY]
Subject also exports the products to United States of America, Australia, Singapore,
Malaysia, Bangladesh, Republic of China, Japan, Canada, Vietnam,
Myanmar, Philippines, India,
Taiwan, Indonesia and
the countries in
Europe, Middle East
and Africa.
PARENT COMPANY
Itochu Corporation
Address : 5-1 Kita-Aoyama,
2-Chome, Minato-ku, Tokyo 107-8077, Japan
SUBSIDIARY/AFFILIATED COMPANY
Itochu Management [Thailand]
Co., Ltd.
Business Type
: Investment, trading
and management company
Itochu Enterprises
[Thailand] Co., Ltd.
Business Type
: Trading company
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 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
T/T.
BANKING
Kasikornbank Public Co., Ltd.
[Head Office
: 1 Kasikorn
Lane, Rajburana Rd.,
Rajburana, Bangkok]
Bangkok Bank Public
Co., Ltd.
[Head Office
: 333 Silom
Rd., Silom, Bangrak,
Bangkok]
Sumitomo-Mitsui Banking Corporation
[Bangkok Office :
138 Silom Rd.,
Suriyawongse, Bangrak, Bangkok]
Krung Thai Bank
Public Co., Ltd.
[Head Office :
35 Sukhumvit Rd.,
Klongtoeynua, Wattana, Bangkok]
Bank of Tokyo-Mitsubishi UFJ
Ltd.
[Bangkok Branch]
EMPLOYMENT
The subject employs
approximately 160 staff.
[office and sales
staff]
LOCATION DETAILS
The premise is rented
for operating administrative office
at the heading
address. Premise is located in
a prime commercial
area.
COMMENT
Subject
is an importer, distributor and exporter of
various kinds of
goods. The products
are mainly for industrial users.
The subject’s business
performance as of
March 2015 was satisfactory with
a slightly decrease in
sales revenue but
a sharp increase
in net profit comparing
to the same
period of the
previous year. Generally,
the subject’s business
is solid and
growing considerably.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 2,500,000 divided
into 25,000 shares
of Bht. 100
each.
The capital was
increased later as
followings :
Bht. 5,000,000
on July 15,
1988
Bht. 20,000,000
on August 11,
1989
Bht. 100,000,000
on January 30,
1992
Bht. 300,000,000
on March 29,
2001
Bht. 600,000,000
on April 30,
2002
The latest registered
capital was increased
to Bht. 600,000,000
divided into 6,000,000
shares of Bht.
100 each with fully
paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
June 17, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Itochu Corporation Nationality: Japanese Address : 5-1
Kita-Aoyama, 2-Chome, Minato-ku,
Tokyo 107-8077,
Japan |
5,999,998 |
100.00 |
|
Mr. Shigenobu Matsumoto Nationality: Japanese Address : 54
North Sathorn Rd,
Silom, Bangrak, Bangkok |
1 |
- |
|
Mr. Hajime Nakamura Nationality: Japanese Address : 54
North Sathorn Rd,
Silom, Bangrak, Bangkok |
1 |
- |
Total Shareholders : 3
Share
Structure [as at
June 17, 2015]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - Japanese |
3 |
6,000,000 |
100.00 |
|
Total |
3 |
6,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Manoon Manusuk No. 4292
BALANCE
SHEET [BAHT]
The latest financial figures published
as at March 31,
2015, 2014 &
2013 were:
ASSETS
|
Current Assets |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Cash and Cash Equivalents |
1,265,969,181 |
81,541,911 |
93,734,418 |
|
Trade Accounts &
Other Receivable |
3,203,962,977 |
3,895,998,564 |
3,991,909,962 |
|
Inventories |
579,396,056 |
582,744,574 |
429,945,765 |
|
Other Current Assets
|
31,340,068 |
33,096,828 |
4,075,230 |
|
|
|
|
|
|
Total Current Assets
|
5,080,668,282 |
4,593,381,877 |
4,519,665,375 |
|
Cash at Bank pledged as a Collateral |
|
|
|
|
For-sale Investment |
405,000,000 |
- |
|
|
Investment in Associated |
65,620,767 |
100,349,767 |
150,277,437 |
|
Investment in Subsidiaries |
19,600,000 |
9,800,000 |
9,800,000 |
|
Other Long-term Investment
|
202,410,986 |
277,510,984 |
264,391,187 |
|
Fixed Assets |
11,065,032 |
5,200,771 |
584,798 |
|
Deferred Income Tax |
2,710,459 |
3,715,347 |
- |
|
Other Non-current Assets |
15,240,180 |
14,709,635 |
15,456,640 |
|
Total Assets |
5,802,315,706 |
5,004,668,381 |
4,960,175,437 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
1,512,431,259 |
1,423,774,685 |
1,229,590,767 |
|
Trade Accounts & Other
Payable |
2,033,696,060 |
2,157,019,401 |
2,004,539,285 |
|
Accrued Income Tax |
276,105,816 |
63,956,880 |
72,225,973 |
|
Other Current Liabilities |
9,166,565 |
6,272,872 |
14,097,851 |
|
|
|
|
|
|
Total Current Liabilities |
3,831,399,700 |
3,651,023,838 |
3,320,453,876 |
|
Deferred Income Tax Liabilities |
- |
- |
15,855,847 |
|
Employee Benefits Obligation |
12,779,452 |
18,168,207 |
18,620,767 |
|
Other Non-current Liabilities |
71,400,000 |
45,564,687 |
43,051,527 |
|
Total Liabilities |
3,915,579,152 |
3,714,756,732 |
3,397,982,017 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital
6,000,000 shares |
600,000,000 |
600,000,000 |
600,000,000 |
|
|
|
|
|
|
Capital Paid |
600,000,000 |
600,000,000 |
600,000,000 |
|
Retained Earnings: Appropriated for statutory
reserve |
60,000,000 |
60,000,000 |
60,000,000 |
|
Unappropriated |
916,336,554 |
629,911,649 |
823,873,420 |
|
Other Components of Shareholder Equity |
310,400,000 |
- |
78,320,000 |
|
Total Shareholders' Equity |
1,886,736,554 |
1,289,911,649 |
1,562,193,420 |
|
Total Liabilities & Shareholders' Equity |
5,802,315,706 |
5,004,668,381 |
4,960,175,437 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2015 |
2014 |
2013 |
|
|
|
|
|
|
Sales Income |
16,970,767,550 |
17,463,158,901 |
17,945,472,034 |
|
Commission Income |
399,166,666 |
423,207,926 |
437,350,554 |
|
Dividend Income |
6,750,160 |
16,862,800 |
23,066,021 |
|
Gain on Sale of Investment |
1,139,128,518 |
110,649,166 |
- |
|
Interest Income |
425,820 |
474,855 |
661,883 |
|
Gain on Exchange Rate |
6,868,609 |
- |
9,980,326 |
|
Other Income |
12,396,523 |
5,044,331 |
4,758,478 |
|
Total Revenues |
18,535,503,846 |
18,019,397,979 |
18,421,289,296 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
16,214,690,333 |
16,683,367,977 |
17,163,378,812 |
|
Selling Expenses |
397,355,853 |
415,682,683 |
397,283,624 |
|
Administrative Expenses |
341,813,285 |
261,637,045 |
246,557,998 |
|
Loss on Sale of Investment |
- |
- |
110,262 |
|
Loss on Exchange Rate |
- |
1,516,050 |
- |
|
Total Expenses |
16,953,859,471 |
17,362,203,755 |
17,807,330,696 |
|
|
|
|
|
|
Profit before Financial Cost & Income Tax |
1,581,644,375 |
657,194,224 |
613,958,600 |
|
Financial Cost |
[29,509,045] |
[33,805,385] |
[34,761,845] |
|
Profit before Income
Tax |
1,552,135,330 |
623,388,839 |
579,196,755 |
|
Income Tax |
[325,813,022] |
[121,950,610] |
[131,337,704] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,226,322,308 |
501,438,229 |
447,859,051 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2015 |
2014 |
2013 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.33 |
1.26 |
1.36 |
|
QUICK RATIO |
TIMES |
1.17 |
1.09 |
1.23 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1,533.73 |
3,357.80 |
30,686.62 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.92 |
3.49 |
3.62 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
13.04 |
12.75 |
9.14 |
|
INVENTORY TURNOVER |
TIMES |
27.99 |
28.63 |
39.92 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
68.91 |
81.43 |
81.19 |
|
RECEIVABLES TURNOVER |
TIMES |
5.30 |
4.48 |
4.50 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
45.78 |
47.19 |
42.63 |
|
CASH CONVERSION CYCLE |
DAYS |
36.17 |
46.99 |
47.71 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.54 |
95.53 |
95.64 |
|
SELLING & ADMINISTRATION |
% |
4.36 |
3.88 |
3.59 |
|
INTEREST |
% |
0.17 |
0.19 |
0.19 |
|
GROSS PROFIT MARGIN |
% |
13.68 |
7.65 |
7.01 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
9.32 |
3.76 |
3.42 |
|
NET PROFIT MARGIN |
% |
7.23 |
2.87 |
2.50 |
|
RETURN ON EQUITY |
% |
65.00 |
38.87 |
28.67 |
|
RETURN ON ASSET |
% |
21.14 |
10.02 |
9.03 |
|
EARNING PER SHARE |
BAHT |
204.39 |
83.57 |
74.64 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.67 |
0.74 |
0.69 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.08 |
2.88 |
2.18 |
|
TIME INTEREST EARNED |
TIMES |
53.60 |
19.44 |
17.66 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(2.82) |
(2.69) |
|
|
OPERATING PROFIT |
% |
140.67 |
7.04 |
|
|
NET PROFIT |
% |
144.56 |
11.96 |
|
|
FIXED ASSETS |
% |
112.76 |
789.33 |
|
|
TOTAL ASSETS |
% |
15.94 |
0.90 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is -2.82%. Turnover has decreased from THB
17,463,158,901.00 in 2014 to THB 16,970,767,550.00 in 2015. While net profit
has increased from THB
PROFITABILITY
: EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
13.68 |
Impressive |
Industrial Average |
12.36 |
|
Net Profit Margin |
7.23 |
Impressive |
Industrial Average |
2.23 |
|
Return on Assets |
21.14 |
Impressive |
Industrial Average |
11.99 |
|
Return on Equity |
65.00 |
Impressive |
Industrial Average |
37.33 |
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. Gross Profit Margin is 13.68%. When compared with the industry
average, the ratio of the company was higher, indicated that company was more
profitable than the same industry.
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 7.23%, 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 21.14%, 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.
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 65%, higher figure when compared with
those of its average competitors in the same industry, indicated that business
was an efficient profits 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
: SATISFACTORY
LIQUIDITY
RATIO
|
Current Ratio |
1.33 |
Satisfactory |
Industrial Average |
1.35 |
|
Quick Ratio |
1.17 |
|
|
|
|
Cash Conversion Cycle |
36.17 |
|
|
|
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 1.33 times in 2015, increase from 1.26 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 1.17 times in 2015,
increase from 1.09 times, although excluding inventory so the company still
have good short-term financial strength.
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 37 days.
Trend of the average
competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE
: SATISFACTORY
LEVERAGE
RATIO
|
Debt Ratio |
0.67 |
Acceptable |
Industrial Average |
0.67 |
|
Debt to Equity Ratio |
2.08 |
Acceptable |
Industrial Average |
2.08 |
|
Times Interest Earned |
53.60 |
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 53.6 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 0.67 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 |
1,533.73 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.92 |
Acceptable |
Industrial Average |
5.42 |
|
Inventory Conversion Period |
13.04 |
|
|
|
|
Inventory Turnover |
27.99 |
Impressive |
Industrial Average |
17.77 |
|
Receivables Conversion Period |
68.91 |
|
|
|
|
Receivables Turnover |
5.30 |
Acceptable |
Industrial Average |
9.06 |
|
Payables Conversion Period |
45.78 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.30 and
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 is 13 days at the end of 2014, same
number of days
as in 2015. And Inventory turnover has decreased from
28.63 times in year 2014 to 27.99 times in year 2015.
The company's Total Asset Turnover is calculated as 2.92 times and 3.49
times in 2015 and 2014 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
|
Key Areas |
Score |
Weight |
Weighted
Score |
|
LIQUIDITY RATIO |
2.22 |
25.00 |
55.50 |
|
ACTIVITY RATIO |
2.67 |
20.00 |
53.40 |
|
PROFITABILITY
RATIO |
4.00 |
25.00 |
100.00 |
|
LEVERAGE RATIO |
2.22 |
10.00 |
22.20 |
|
ANNUAL GROWTH |
3.20 |
20.00 |
64.00 |
|
Total Weight
(excluding - - Score) |
|
100.00 |
|
|
|
|
|
295.10 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.