MIRA INFORM REPORT
|
Report No. : |
339504 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
K.R. PLASTIC INDUSTRIES CO., LTD.
|
|
|
|
|
Registered Office : |
96 Moo 8, Laonadee Road, T. Muangkao, A.
Muang, Khon Kaen 40000 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
11.02.1991 |
|
|
|
|
Com. Reg. No.: |
0405534000097 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Distributor & Exporter of Plastic Filaments. |
|
|
|
|
No. of Employees : |
390 |
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 |
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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 |
|
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 and address
K.R.
PLASTIC INDUSTRIES CO., LTD.
SUMMARY
BUSINESS ADDRESS : 96
MOO 8, LAONADEE
ROAD, T. MUANGKAO,
A.
MUANG,
KHON KAEN 40000,
THAILAND
TELEPHONE : [66] 43
324-602-3, 325-017-9, 43
258-612-4
FAX : [66] 43
324-604
E-MAIL
ADDRESS : info@krplas.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDDRESS
ESTABLISHED : 1991
REGISTRATION NO. : 0405534000097 [Former : KHOR. KOR. 461]
TAX ID NO. : 3451006232
CAPITAL
REGISTERED : BHT.
120,000,000
CAPITAL
PAID-UP : BHT.
120,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
TAIWANESE :
49.00%
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
CHAIYOT SEREEYOTHIN, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 390
LINES OF
BUSINESS : PLASTIC FILAMENTS
MANUFACTURER,
DISTRIBUTOR & 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 February
11, 1991 as
a private limited
company under the registered name
K.R. PLASTIC INDUSTRIES CO., LTD.
by Thai and
Taiwanese groups, in
order to manufacture
Synthetic Fiber products
to local market.
It was initially
a joint venture
between Khon Kaen
Fishing Net Factory
Co., Ltd., Thailand
and Rai Hsing
Plastics group, a leading
Taiwanese company in the
production of machinery and
Synthetic Fibers. The
subject is also
the top three
in plastic monofilament
manufacturing of the world.
It was granted
the promotional privileges
for the production
of nylon products
from the Board
of Investment [BOI], Thailand. It
currently employs approximately 390
staff.
It achieved the
international standard 9001 : 2000, and ISO 9001 : 2008 certification
for plastic filament
manufacturing by URS
in 2002 and 2009, respectively.
The subject’s registered
address is 96
Moo 8, Laonadee
Rd., T. Muangkao, A. Muang,
Khon Kaen 40000,
and this is
the company’s current
operation address.
THE
BOARD OF DIRECTOR
|
Name |
Nationality |
Age |
|
|
|
|
|
Mr. Burapa Sereeyothin |
Thai |
77 |
|
Mr. Bovorn Sereeyothin |
Thai |
66 |
|
Mr. Buri [Former : Burin] Sereeyothin |
Thai |
65 |
|
Mr. Chaiyot Sereeyothin |
Thai |
53 |
|
Mr. Cheng Si
Pu |
Taiwanese |
59 |
|
Mr. Wen Hung
Su [Former : Tsu Wen
Hung] |
Taiwanese |
67 |
Note:
Mr. Burin Sereeyothin changed
his name to Mr.
Buri Sereeyothin on
February 9, 2000.
Mr. Tsu Wen Hung
changed his name to Mr.
Wen Hung
Su on October
14, 2009.
AUTHORIZED
PERSON
Any of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Chaiyot
Sereeyothin is the
Managing Director.
He is Thai nationality with
the age of 53 years
old.
Mr. Cheng
Si Pu is
the Deputy Managing
Director and Factory
Manager.
He is Taiwanese
nationality with the
age of 59
years old.
Mr. Kriangsak
Watanasuk is the
Production Manager.
He is Thai
nationality.
BUSINESS
OPERATIONS
The
subject is engaged
in manufacturing plastic
filaments in a
variety of sections,
sizes and colors
for toothbrush, paint
brush and cosmetic
brush production industry.
Its products are
as follows:
·
Mono Filament
products, made from
various of plastic
resins such as
Nylon 6, Nylon
66, Nylon 612,
PP [Polypropylene], PET
[Polyester] and PBT
[Saturated Polyester].
·
Taper Filament
for toothbrush, artist brush,
cosmetic brush and
etc.
PRODUCTION CAPACITY
3,000 - 6,000 tons per
year
PURCHASE
60% of raw
materials mainly PVC
resin, PP &
PE are purchased
from local suppliers,
and the remaining
40% are imported
from Taiwan, Republic
of China, Singapore,
France, Japan, India
and Germany. The
subject has been
supported for technology and machinery
from Taiwan.
MAJOR SUPPLIERS
IRPC Public Company
Limited : Thailand
SALES
80% of the
products is exported
to overseas customers
in U.S.A., Italy, Belgium, Denmark, France, Germany, United
Kingdom, Netherlands, Poland,
Turkey, South Africa, New Zealand,
Norway, Greece, Canada, Brazil, Republic
of China, Japan, Hong
Kong and Australia,
the remaining 20%
is sold locally
to manufacturers.
MAJOR CUSTOMERS
Paint Brush Coporation
: U.S.A.
LITIGATIONS
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.
SUBSIDIARIES
& AFFILIATED COMPANIES
Thai Frank Brush
Co., Ltd.
Business Type : Manufacturer
of toothbrush
K.R. Filament Co.,
Ltd.
Business Type :
Manufacturer of taper
filament
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 on the
credits term of
30-60 days or
T/T.
Exports are against
T/T.
BANKING
Bangkok Bank
Public Co., Ltd.
[Khon Kaen Branch
: 254 Srichan
Rd., T. Naimuang, A. Muang, Khon
Kaen Province]
Kasikornbank Public Co., Ltd.
[Khon Kaen Branch
: 398/3 Mitraparp
Rd., T. Naimuang, A. Muang, Khon
Kaen Province]
EMPLOYMENT
The subject employs
approximately 390 office
staff and factory
workers.
LOCATION
DETAILS
The premise is
owned for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial,
in the Northeastern
region of Thailand.
COMMENT
The subject focuses
on maintaining its
customer base, proving high-quality
services, working together
with its customers
for solution of the
products, and enhancing its customers to
adapt the products
with new market
trends, new technology
and innovation. Furthermore, it also emphasizes on
adding value to its
customers by increasing
its product variety
with a selection the
best raw materials. Also,
it is working
in collaboration with public and
private institutes on research
and development of
new products in
response to the
future market needs.
FINANCIAL
INFORMATION
The capital was
registered at Bht.
25,000,000 divided into
250,000 shares of
Bht. 100 each.
The capital was increased later
as followings :
Bht. 50,000,000
on January 27,
1995
Bht. 120,000,000
on August 8,
1995
The latest registered
capital was increased
to Bht. 120,000,000
divided into 1,200,000
shares of Bht.
100 each with
fully paid.
THE LIST
OF SHAREHOLDERS WERE : [as
at April 30,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
Mr. Wen
Hung Su
Nationality : Taiwanese Address : Taiwan |
468,000 |
39.00 |
KKF International Group
Co., Ltd.
Nationality : Thai Address : 115
Moo 17, Mitraphap
Road, T. Naimuang, A.
Muang, Khon Kaen
|
378,000 |
31.50 |
Mr. Chaiyot
Sereeyothin
Nationality : Thai Address : 292
Reunrom Rd., T. Naimuang, A. Muang, Khon Kaen
|
162,000 |
13.50 |
Mr. Cheng
Si Pu
Nationality : Taiwanese Address : Taiwan |
120,000 |
10.00 |
Mr. Burapa
Sereeyothin
Nationality : Thai Address : 292 Reunrom
Rd., T. Naimuang, A.
Muang, Khon Kaen |
72,000 |
6.00 |
Total Shareholders
: 5
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
612,000 |
51.00 |
|
Foreign - Taiwanese |
2 |
588,000 |
49.00 |
|
Total |
5 |
1,200,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Prakob Suravijit No.
9561
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 |
5,011,110.50 |
12,998,755.59 |
12,289,295.41 |
|
Trade Accounts Receivable
|
35,630,139.92 |
19,626,854.55 |
35,456,433.99 |
|
Inventories |
34,743,362.31 |
49,903,530.47 |
49,432,271.97 |
|
Other Current Assets
|
35,350,160.05 |
35,620,986.93 |
9,287,025.30 |
|
|
|
|
|
|
Total Current Assets
|
110,734,772.78 |
118,150,127.54 |
106,465,026.67 |
|
|
|
|
|
|
Fixed Assets |
100,621,892.75 |
87,754,128.20 |
52,506,356.03 |
|
Deposits |
- |
- |
75,107.66 |
|
Total Assets |
211,356,665.53 |
205,904,255.74 |
159,046,490.36 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft |
181,761.33 |
1,193,779.99 |
120,108.78 |
|
Trade Accounts Payable
|
68,887,715.15 |
66,757,747.25 |
26,003,265.40 |
|
Other Current Liabilities |
6,577,420.43 |
5,699,869.18 |
4,667,078.76 |
|
|
|
|
|
|
Total Current Liabilities |
75,646,896.91 |
73,651,396.42 |
30,790,452.94 |
|
Total Liabilities |
75,646,896.91 |
73,651,396.42 |
30,790,452.94 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital
1,200,000 shares |
120,000,000.00 |
120,000,000.00 |
120,000,000.00 |
|
|
|
|
|
|
Capital Paid |
120,000,000.00 |
120,000,000.00 |
120,000,000.00 |
|
Retained Earning Unappropriated |
15,709,768.62 |
12,252,859.32 |
8,256,037.42 |
|
Total Shareholders' Equity |
135,709,768.62 |
132,252,859.32 |
128,256,037.42 |
|
Total Liabilities & Shareholders' Equity |
211,356,665.53 |
205,904,255.74 |
159,046,490.36 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
184,692,191.42 |
183,289,384.16 |
178,186,181.31 |
|
Other Income |
22,959,219.25 |
18,045,567.15 |
16,306,505.38 |
|
Total Revenues |
207,651,410.67 |
201,334,951.31 |
194,492,686.69 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
178,439,750.83 |
175,244,911.12 |
171,392,455.76 |
|
Selling Expenses |
147,684.00 |
91,418.94 |
712,659.38 |
|
Administrative Expenses |
24,098,027.98 |
20,641,248.42 |
18,199,829.83 |
|
Total Expenses |
202,685,462.81 |
195,977,578.48 |
190,304,944.97 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
4,965,947.86 |
5,357,372.83 |
4,187,741.72 |
|
Financial Cost |
[229,567.45] |
[263,112.58] |
[264,382.92] |
|
Profit / [Loss] before Income
Tax |
4,736,380.41 |
5,094,260.25 |
3,923,358.80 |
|
Income Tax |
[1,279,471.11] |
[1,097,438.35] |
[982,501.26] |
|
|
|
|
|
|
Net Profit / [Loss] |
3,456,909.30 |
3,996,821.90 |
2,940,857.54 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.46 |
1.60 |
3.46 |
|
QUICK RATIO |
TIMES |
0.54 |
0.44 |
1.55 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1.84 |
2.09 |
3.39 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.87 |
0.89 |
1.12 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
71.07 |
103.94 |
105.27 |
|
INVENTORY TURNOVER |
TIMES |
5.14 |
3.51 |
3.47 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
70.41 |
39.08 |
72.63 |
|
RECEIVABLES TURNOVER |
TIMES |
5.18 |
9.34 |
5.03 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
140.91 |
139.04 |
55.38 |
|
CASH CONVERSION CYCLE |
DAYS |
0.57 |
3.98 |
122.52 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
96.61 |
95.61 |
96.19 |
|
SELLING & ADMINISTRATION |
% |
13.13 |
11.31 |
10.61 |
|
INTEREST |
% |
0.12 |
0.14 |
0.15 |
|
GROSS PROFIT MARGIN |
% |
15.82 |
14.23 |
12.96 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.69 |
2.92 |
2.35 |
|
NET PROFIT MARGIN |
% |
1.87 |
2.18 |
1.65 |
|
RETURN ON EQUITY |
% |
2.55 |
3.02 |
2.29 |
|
RETURN ON ASSET |
% |
1.64 |
1.94 |
1.85 |
|
EARNING PER SHARE |
BAHT |
2.88 |
3.33 |
2.45 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.36 |
0.36 |
0.19 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.56 |
0.56 |
0.24 |
|
TIME INTEREST EARNED |
TIMES |
21.63 |
20.36 |
15.84 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
0.77 |
2.86 |
|
|
OPERATING PROFIT |
% |
(7.31) |
27.93 |
|
|
NET PROFIT |
% |
(13.51) |
35.91 |
|
|
FIXED ASSETS |
% |
14.66 |
67.13 |
|
|
TOTAL ASSETS |
% |
2.65 |
29.46 |
|
ANNUAL
GROWTH: SATISFACTORY
An annual sales growth is 0.77%. Turnover has increased from THB
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
15.82 |
Impressive |
Industrial
Average |
2.91 |
|
Net Profit Margin |
1.87 |
Impressive |
Industrial
Average |
(8.01) |
|
Return on Assets |
1.64 |
Impressive |
Industrial
Average |
(7.74) |
|
Return on Equity |
2.55 |
Impressive |
Industrial
Average |
(12.43) |
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 15.82%. 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 1.87%, 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 1.64%, 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 2.55%, 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 Downtrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
1.46 |
Impressive |
Industrial
Average |
1.01 |
|
Quick Ratio |
0.54 |
|
|
|
|
Cash Conversion Cycle |
0.57 |
|
|
|
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 1.46 times in 2014, decreased from 1.6 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 0.54 times in 2014,
increased from 0.44 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 1 day.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.36 |
Impressive |
Industrial
Average |
0.37 |
|
Debt to Equity Ratio |
0.56 |
Impressive |
Industrial
Average |
0.58 |
|
Times Interest Earned |
21.63 |
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 lower the percentage means that the company is
using less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 21.64 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 0.36 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
1.84 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.87 |
Satisfactory |
Industrial
Average |
0.97 |
|
Inventory Conversion Period |
71.07 |
|
|
|
|
Inventory Turnover |
5.14 |
Acceptable |
Industrial
Average |
7.73 |
|
Receivables Conversion Period |
70.41 |
|
|
|
|
Receivables Turnover |
5.18 |
Acceptable |
Industrial
Average |
10.15 |
|
Payables Conversion Period |
140.91 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.18 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 104 days at the
end of 2013 to 71 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 3.51 times in year 2013 to 5.14 times
in year 2014.
The company's Total Asset Turnover is calculated as 0.87 times and 0.89
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 Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.40 |
|
|
1 |
Rs.101.19 |
|
Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.