MIRA INFORM REPORT
|
Report No. : |
346308 |
|
Report Date : |
23.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
KINJAL STAR CO., LTD. |
|
|
|
|
Registered Office : |
919/361 Silom Road, Silom, Bangrak, Bangkok 10500 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
18.05.1994 |
|
|
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Com. Reg. No.: |
0105537057530 |
|
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|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged
in importing and distributing various
kinds of diamonds
and gemstones for
jewelry trading and
productions, as well
as exporting of
Thai jewelry products. |
|
|
|
|
No. of Employee : |
2 |
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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|
|
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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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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
KINJAL STAR CO.,
LTD.
SUMMARY
BUSINESS
ADDRESS : ROOM
2812, 28th FLOOR, JEWELRY TRADE CENTER,
919/361 SILOM
ROAD, SILOM, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2630-2208,
081 638-8107, 081
922-2849, 2233-6021
FAX :
[66] 2630-2300
E-MAIL
ADDRESS : pravinpatel70@yahoo.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1994
REGISTRATION
NO. : 0105537057530 [Former
: 1299/2537]
TAX
ID NO. : 3011420805
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 : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PATEL PRAVINBHAI BALUBHAI,
INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 2
LINES
OF BUSINESS : DIAMONDS AND
GEMSTONES
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on May 18,
1994 as a
private limited company
under the registered
name KINJAL STAR
CO., LTD., by
Thai and Indian
groups, with the
objective to be
engaged in jewelry
business. It currently
employs 2 staff.
The subject’s registered
address is Room
2812, 28th Flr.,
Jewelry Trade Center,
919/361
Silom Rd., Silom,
Bangrak, Bangkok 10500,
and this is
the subject’s current
operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Patel Pravinbhai Balubhai |
|
Indian |
45 |
|
Mr. Bipinkumar Gopalbhai Borad |
|
Indian |
33 |
AUTHORIZED
PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Patel Pravinbhai
Balubhai is the
Managing Director.
He is Indian
nationality with the
age of 45 years
old.
BUSINESS
OPERATIONS
The subject is
engaged in importing
and distributing various
kinds of diamonds
and gemstones for
jewelry trading and
productions, as well
as exporting of
Thai jewelry products.
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly in
India, Republic of
China and Hong
Kong.
SALES
Diamonds and gemstones
are sold locally
by wholesale to
traders and manufacturers.
EXPORT
Thai jewelries are
exported to India.
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 to 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.
Exports are against
T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The
subject employs 2 staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in a
prime commercial area.
COMMENT
Subject
was formed in 1994 as an
importer and distributor
of diamonds and gemstones, as
well as exporter
of Thai jewelry.
Subject reported a good
business in the year 2014.
Generally,
the subject has
continued with large order from
its customers in
overseas.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 2,000,000
divided into 20,000 shares of
Bht. 100
each.
On December
8, 1995, the 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 February 19, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Patel Pravinbhai Balubhai Nationality: Indian Address : India |
19,600 |
49.00 |
|
Mr. Sombat Jaiharn Nationality: Thai Address : 80/149
Serithai Rd., Klongkum,
Buengkum, Bangkok |
5,100 |
12.75 |
|
Mr. Manus Liabsaeng Nationality: Thai Address : 7
Moo 6, Donyor,
Muang, Nakornnayok |
5,100 |
12.75 |
|
Ms. Zorba Boonmalert Nationality: Thai Address : 45
Moo 5, Yothaka,
Bangnampriew,
Chachoengsao |
5,100 |
12.75 |
|
Ms. Suree Thuanjeen Nationality: Thai Address : 33
Moo 2, Klongdarn,
Bangbor,
Samutprakarn |
5,100 |
12.75 |
Total Shareholders : 5
Share Structure [as
at February 19, 2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
4 |
20,400 |
51.00 |
|
Foreign - Indian |
1 |
19,600 |
49.00 |
|
Total |
5 |
40,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mrs. Wasana Tanmongkol No.
1888
BALANCE
SHEET [BAHT]
The latest financial
figures published for
December 31, 2014, 2013 &
2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
479,339.09 |
129,516.09 |
193,059.89 |
|
Trade Accounts &
Other Receivable |
54,755,586.17 |
17,084,427.34 |
28,407,127.98 |
|
Inventories |
9,255,611.35 |
26,123,204.08 |
10,888,607.82 |
|
Total Current
Assets |
64,490,536.61 |
43,337,147.51 |
39,488,795.69 |
|
|
|
|
|
|
Office Equipment |
40,074.73 |
81,961.46 |
127,433.38 |
|
Other Non-current Assets |
6,000.00 |
6,000.00 |
6,000.00 |
|
Total Assets
|
64,536,611.34 |
43,425,108.97 |
39,622,229.07 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft &
Short-term Loan from Financial
Institution |
7,955,799.55 |
7,998,906.14 |
7,917,148.67 |
|
Trade Accounts & Other
Payable |
49,201,544.35 |
28,655,990.32 |
24,739,810.47 |
|
Accrued Income Tax |
34,474.55 |
15,205.40 |
421,587.50 |
|
Total Current
Liabilities |
57,191,818.45 |
36,670,101.86 |
33,078,546.64 |
|
Total Liabilities |
57,191,818.45 |
36,670,101.86 |
33,078,546.64 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
value Authorized &
issued share capital 40,000
shares |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Capital Paid |
4,000,000.00 |
4,000,000.00 |
4,000,000.00 |
|
Retained Earning -
Unappropriated |
3,344,792.89 |
2,755,007.11 |
2,543,682.43 |
|
Total
Shareholders' Equity |
7,344,792.89 |
6,755,007.11 |
6,543,682.43 |
|
Total Liabilities
& Shareholders' Equity |
64,536,611.34 |
39,622,229.07 |
32,286,314.46 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
102,715,377.12 |
61,832,427.46 |
91,216,316.12 |
|
Other Income |
987,585.66 |
62.20 |
1,061,777.92 |
|
Total Revenues
|
103,702,962.78 |
61,832,489.66 |
92,278,094.04 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
99,701,849.66 |
57,297,118.84 |
86,236,052.81 |
|
Selling Expenses |
548,966.84 |
398,192.81 |
981,438.40 |
|
Administrative Expenses |
2,053,033.00 |
1,988,879.96 |
2,512,727.86 |
|
Other Expenses |
- |
1,293,791.02 |
- |
|
Total Expenses |
102,303,849.50 |
60,977,982.63 |
89,730,219.07 |
|
Profit / [Loss] before Financial
Costs & Income Tax |
1,399,113.28 |
854,507.03 |
2,547,874.97 |
|
Financial Costs |
[549,852.95] |
[477,976.95] |
[575,033.79] |
|
Profit /[Loss] before Income
Tax |
849,260.33 |
376,530.08 |
1,972,841.18 |
|
Income Tax |
[259,474.55] |
[165,205.40] |
[502,087.50] |
|
Net Profit /[Loss] |
589,785.78 |
211,324.68 |
1,470,753.68 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.13 |
1.18 |
1.19 |
|
QUICK RATIO |
TIMES |
0.97 |
0.47 |
0.86 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2,563.10 |
754.41 |
715.80 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.59 |
1.42 |
2.30 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
33.88 |
166.41 |
46.09 |
|
INVENTORY TURNOVER |
TIMES |
10.77 |
2.19 |
7.92 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
194.57 |
100.85 |
113.67 |
|
RECEIVABLES TURNOVER |
TIMES |
1.88 |
3.62 |
3.21 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
180.12 |
182.55 |
104.71 |
|
CASH CONVERSION CYCLE |
DAYS |
48.34 |
84.72 |
55.04 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
97.07 |
92.67 |
94.54 |
|
SELLING & ADMINISTRATION |
% |
2.53 |
3.86 |
3.83 |
|
INTEREST |
% |
0.54 |
0.77 |
0.63 |
|
GROSS PROFIT MARGIN |
% |
3.90 |
7.33 |
6.62 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.36 |
1.38 |
2.79 |
|
NET PROFIT MARGIN |
% |
0.57 |
0.34 |
1.61 |
|
RETURN ON EQUITY |
% |
8.03 |
3.13 |
22.48 |
|
RETURN ON ASSET |
% |
0.91 |
0.49 |
3.71 |
|
EARNING PER SHARE |
BAHT |
14.74 |
5.28 |
36.77 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.89 |
0.84 |
0.83 |
|
DEBT TO EQUITY RATIO |
TIMES |
7.79 |
5.43 |
5.06 |
|
TIME INTEREST EARNED |
TIMES |
2.54 |
1.79 |
4.43 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
66.12 |
(32.21) |
|
|
OPERATING PROFIT |
% |
63.73 |
(66.46) |
|
|
NET PROFIT |
% |
179.09 |
(85.63) |
|
|
FIXED ASSETS |
% |
(51.11) |
(35.68) |
|
|
TOTAL ASSETS |
% |
48.62 |
9.60 |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is 66.12%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
3.90 |
Impressive |
Industrial
Average |
3.48 |
|
Net Profit Margin |
0.57 |
Satisfactory |
Industrial
Average |
0.76 |
|
Return on Assets |
0.91 |
Deteriorated |
Industrial
Average |
4.67 |
|
Return on Equity |
8.03 |
Deteriorated |
Industrial
Average |
18.72 |
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 3.9%. 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. The company's figure is 0.57%.
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 0.91%.
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 8.03%.
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 |
1.13 |
Satisfactory |
Industrial
Average |
1.40 |
|
Quick Ratio |
0.97 |
|
|
|
|
Cash Conversion Cycle |
48.34 |
|
|
|
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 1.13 times in 2014, decreased from 1.18 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 0.97 times in 2014,
increased from 0.47 times, by excluding inventory, the company may have
problems meeting current liabilities.
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 49 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.89 |
Acceptable |
Industrial
Average |
0.70 |
|
Debt to Equity Ratio |
7.79 |
Risky |
Industrial
Average |
2.29 |
|
Times Interest Earned |
2.54 |
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 2.55 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 0.89 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 |
2,563.10 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.59 |
Deteriorated |
Industrial
Average |
5.55 |
|
Inventory Conversion Period |
33.88 |
|
|
|
|
Inventory Turnover |
10.77 |
Satisfactory |
Industrial
Average |
12.91 |
|
Receivables Conversion Period |
194.57 |
|
|
|
|
Receivables Turnover |
1.88 |
Deteriorated |
Industrial
Average |
7.05 |
|
Payables Conversion Period |
180.12 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.88 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 has decreased from 166 days at the
end of 2013 to 34 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 2.19 times in year 2013 to 10.77
times in year 2014.
The company's Total Asset Turnover is calculated as 1.59 times and 1.42
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 Downtrend
DIAMOND INDUSTRY – INDIA
-
From
time immemorial, India is well known in the world as the birthplace for
diamonds. It is difficult to trace the origin of diamonds but history
says that in the remote past, diamonds were mined only in India. Diamond
production in India can be traced back to almost 8th Century B.C.
India, in fact, remained undisputed leader till 18th Century
when Brazilian fields were discovered in 1725 followed by emergence of S.
Africa, Russia and Australia.
-
The
achievement of the Indian diamond industry was possible only due to combination
of the manufacturing skills of the Indian workforce and the untiring and
unflagging efforts of the Indian diamantaires, supported by progressive
Government policies.
-
The
area of study of family owned diamond businesses derives its importance from
the huge conglomerate of family run organizations which operate in the diamond
industry since many generations.
-
Some
of the basic traits of family run business enterprises include spirit of
entrepreneurship, mutual trust lowers transaction costs, small, nimble and quick
to react, information as a source of advantage and philanthropy.
-
Family
owned diamond businesses need to improve on many fronts including higher
standard of corporate governance, long-term performance – focused strategies,
modern management and technology.
-
Utmost
caution is to be exercised while dealing with some medium and large diamond
traders which are usually engaged in fictitious import – export, inter-company
transactions, financially assisted by banks. In the process, several public
sector banks lost several hundred million rupees. They mostly diverted borrowed
money for diamond business into real estate and capital markets.
-
Excerpts
from Times of India dated 30th October 2010 is as under –
-
Gem
& Jewellery Export Promotion Council in its statistical data has shown the
export of polished diamonds to have increase by 28 % in February 2013. Compared
to $ 1.4 bn worth of polished diamond export in February, 2012, India exported
$ 1.84 billion worth of polished diamonds in February 2013. A senior executive
of GJEPC said, “Export of cut and polished diamonds started falling month-wise
after the imposition of 2 % of import duty on the polished diamonds. But
February, 2013 has given a new ray of hope to the industry as the export of
polished diamonds has actually increased by 28 %. It means the industry
is on the track of recovery and round tripping of diamonds has stopped
completely.” Demand has started coming from the US, the UK, Japan and China.
India’s polished diamond export is expected to cross $ 21 bn in 2013-14.
-
The
banking sector has started exercising restraint while following prudent risk
management norms when lending money to gems and jewellery sector. This follows
the implementation of Basel III accord – a global voluntary regulatory standard
on bank capital adequacy, stress testing and market liquidity.
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
: |
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.