MIRA INFORM REPORT
|
Report No. : |
340489 |
|
Report Date : |
19.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
P.S. STEEL CO., LTD. |
|
|
|
|
Registered Office : |
5 Soi Phuttabucha 6, Phuttabucha
Road,Bangmod, Chomthong, Bangkok 10150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
30.03.1992 |
|
|
|
|
Com. Reg. No.: |
0105535056528 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Subject is engaged in
importing and distributing various
kinds of foundry
materials such as
Pig Iron, Coke, Ferro
Alloys, Manganese, Chromium,
Nickel, Copper, Carbon
99, Bar Graphite |
|
|
|
|
No. of Employees : |
30 |
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 |
B1 |
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
P.S. STEEL
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 5
SOI PHUTTABUCHA 6,
PHUTTABUCHA ROAD,
BANGMOD, CHOMTHONG,
BANGKOK 10150,
THAILAND
TELEPHONE
: [66] 2613-9541-2
FAX : [66] 2613-9491-2
E-MAIL ADDRESS : pssteel@cscoms.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1992
REGISTRATION NO. : 0105535056528
TAX ID NO. : 3011117811
CAPITAL REGISTERED : BHT.
15,000,000
CAPITAL PAID-UP
: BHT.
15,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE
: MR. PRASERT KIATTISAKSRI,
THAI
MANAGING
DIRECTOR
NO. OF
STAFF : 30
LINES OF
BUSINESS : FOUNDRY MATERIALS
AND SUPPLIES
IMPORTER AND
DISTRIBUTOR
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 March 30,
1992 as a private
limited company under
the registered name P.S. STEEL CO., LTD. by Thai group, Kiattisaksri
family, in order to distribute
foundry materials and
supplies to local
steel and metal
work industries. It employs
approximately 30 staff.
The subject’s registered
address was initially 26/5
Moo 5, Phuttabucha
Rd., Bangmod,
Chomthong,
Bangkok 10150, whereas
the subject’s operation address was
47 Soi
Soonthornpimol,
Jarumuang Rd., Rongmuang,
Pathumwan, Bangkok 10330.
On December 18,
2009, its registered
address was changed
to 5 Soi
Phuttabucha 6, Phuttabucha
Rd., Bangmod, Chomthong,
Bangkok 10150, by the
Chomthong District Office,
which actually is
the same location.
In 2012, the
operation address was
relocated from 47
Soi Soonthornpimol,
Jarumuang Rd., Rongmuang,
Pathumwan, Bangkok 10330,
to the same
registered
address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Prasert Kiattisaksri |
|
Thai |
66 |
|
Mr. Prasit Kiattisaksri |
|
Thai |
59 |
|
Mr. Prateep Kiattisaksri |
|
Thai |
56 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Prasert
Kiattisaksri
is the Managing Director.
He is Thai
nationality with the
age of 66
years old.
Mr. Prasit Kiattisaksri is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 59
years old.
Mrs. Vimolsri Thepkanjana is
the Finance &
Account Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing various
kinds of foundry
materials such as Pig Iron, Coke,
Ferro Alloys, Manganese,
Chromium, Nickel, Copper,
Carbon 99, Bar
Graphite. Its products
are used in steel,
stainless steel and
metal works industries.
PURCHASE
80% of the
products is imported
from Japan, Germany,
Norway, Republic of
China, Taiwan, Malaysia,
Singapore, India and
Australia, while the remaining
20% is purchased
locally.
MAJOR SUPPLIERS
Nippon Steel Corporation : Japan
Nisho Iwai Corporation : Japan
IKO Industry AG. :
Germany
Mitsui Toatsu Chemical
Inc. : Japan
SALES [LOCAL]
The products are
sold locally to
manufacturers, wholesales and
end-users.
SUBSIDIARY AND
AFFILIATED COMPANY
Standard Metal Co., Ltd.
Business Type : Importer
and distributor of
casting steel
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
and T/T.
BANKING
Bangkok Bank Public
Co., Ltd.
[Head Office : 333
Silom Rd., Bangrak, Bangkok 10500]
Krung Thai Bank
Public Co., Ltd.
[Head Office :
35 Sukhumvit Rd.,
Klongtoeynua, Wattana, Bangkok 10110]
Kasikornbank
Public Co., Ltd.
[Saphanlueng Branch
: 650
Rama 4 Rd.,
Rongmuang, Pathumwan, Bangkok
10330]
EMPLOYMENT
The subject employs
approximately 30 staff.
[office and sales staff]
LOCATION
DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in commercial/residential area.
Warehouse is located
at 28/2-3 Moo
11, Soi Rattanapaisal, Bangna-Trad
Rd.,
Bangpleeyai,
Samutprakarn, Tel : [66] 2752-0440
Fax : [66]
2215-9020
COMMENT
The subject operates
as an importer
and distributor of
foundry materials and
supplies used in
steel and metal
work industries. However,
many industries are
generally dull as
slow recovery of
the country’s economy
which is reflected
to the subject’s
business not achieving
its goal.
FINANCIAL
INFORMATION
The capital was
registered at Bht. 5,000,000 divided
into 50,000 shares
of Bht. 100 each.
On November 5, 2002,
the capital was increased to Bht. 15,000,000 divided into 150,000
shares of Bht.
100 each with
fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at April
30, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Prasert Kiattisaksri Nationality: Thai Address : 47
Soi Soonthornpimol,
Jarumuang Rd., Rongmuang,
Pathumwan,
Bangkok |
45,000 |
30.00 |
|
Mr. Prasit Kiattisaksri Nationality: Thai Address : 28/2
Moo 11, Bangpleeyai, Bangplee, Samutprakarn |
30,000 |
20.00 |
|
Mr. Prateep
Kiattisaksri Nationality: Thai Address : 29/8
Moo 2, Bangnamjued, Muang,
Samutsakorn |
30,000 |
20.00 |
|
Ms. Vijit Kiattisaksri Nationality: Thai Address : 5 Soi Phuttabucha
6, Phuttabucha Rd.,
Bangmod, Chomthong, Bangkok
|
15,000 |
10.00 |
|
Mrs. Vilai Chaisa-nguanjirakul Nationality: Thai Address : 496/2-3
Rama 4 Rd.,
Mahaprutharam,
Bangrak, Bangkok |
7,500 |
5.00 |
|
Ms. Vipa Kiattisaksri Nationality: Thai Address : 615
Suksawad Road, Bangpakok,
Rajbuurana, Bangkok |
7,500 |
5.00 |
|
Mrs. Vimolsri Thepkanjana Nationality: Thai Address : 47
Soi Soonthornpimol, Jarumuang
Rd.,
Rongmuang, Pathumwan, Bangkok |
7,500 |
5.00 |
|
Mrs. Vimolrat Teerawongpairoj Nationality: Thai Address : 108/212
Yotha Rd., Taladnoi,
Samphantawong, Bangkok |
7,500 |
5.00 |
Total
Shareholders : 8
Share Structure [as at
April 30, 2015]
|
Nationality |
Shareholders |
No.
of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
150,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
8 |
150,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO.
Mr. Pisij
Sahavichienchai No.3891
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 |
255,500.62 |
1,009,321.64 |
1,130,853.76 |
|
Trade Accounts Receivable
|
127,507,994.66 |
126,882,356.96 |
152,983,277.94 |
|
Inventories |
106,487,225.23 |
107,167,700.32 |
89,728,827.35 |
|
Other Current Assets
|
19,194,626.84 |
18,587,705.90 |
25,421,782.54 |
|
|
|
|
|
|
Total Current Assets |
253,445,347.35 |
253,647,084.82 |
269,264,741.59 |
|
|
|
|
|
|
Fixed Assets |
6,999,502.85 |
5,773,584.74 |
7,625,348.53 |
|
Other
Non-current Assets |
1,818,831.59 |
1,818,831.59 |
1,663,791.59 |
|
Total Assets |
262,263,681.79 |
261,239,501.15 |
278,553,881.71 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft |
8,157,184.72 |
20,357,129.28 |
80,658.97 |
|
Trade Accounts Payable
|
169,036,648.79 |
148,079,075.48 |
206,301,582.08 |
|
Short-term Loan |
- |
25,000,000.00 |
- |
|
Other Current Liabilities |
8,158,035.54 |
7,959,693.63 |
8,509,041.34 |
|
|
|
|
|
|
Total Current Liabilities |
185,351,869.05 |
201,395,898.39 |
214,891,282.39 |
|
Long-term Loans |
12,439,100.00 |
1,491,900.00 |
15,091,900.00 |
|
Total Liabilities |
197,790,969.05 |
202,887,798.39 |
229,983,182.39 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital :
Baht 100 par
value authorized and
issued share capital
150,000 shares |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
|
|
|
|
|
Capital Paid |
15,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
Retained Earning Appropriated for
statutory reserve |
489,050.17 |
- |
- |
|
Unappropriated |
48,983,662.57 |
43,351,702.76 |
33,570,699.32 |
|
Total Shareholders'
Equity |
64,472,712.74 |
58,351,702.76 |
48,570,699.32 |
|
Total Liabilities
& Shareholders' Equity |
262,263,681.79 |
261,239,501.15 |
278,553,881.71 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
687,104,448.57 |
761,785,278.30 |
867,978,642.92 |
|
Other Income |
24,119.27 |
46,442.66 |
13,396,754.68 |
|
Total Revenues |
687,128,567.84 |
761,831,720.96 |
881,375,397.60 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
600,368,664.00 |
664,140,974.00 |
787,039,806.52 |
|
Selling Expenses |
47,727,756.25 |
49,478,138.87 |
54,530,667.04 |
|
Administrative
Expenses |
19,700,475.50 |
31,540,628.32 |
20,950,387.46 |
|
Total Expenses |
667,796,895.75 |
745,159,741.19 |
862,520,861.02 |
|
|
|
|
|
|
Profit / [Loss]
before Financial Cost & Income
Tax |
19,331,672.09 |
16,671,979.77 |
18,854,536.58 |
|
Financial Cost |
[4,178,702.40] |
[4,445,704.04] |
[6,094,029.63] |
|
Profit / [Loss]
before Income Tax |
15,152,969.69 |
12,226,275.73 |
12,760,506.95 |
|
Income Tax |
[3,031,959.71] |
[2,445,272.29] |
[2,935,691.34] |
|
|
|
|
|
|
Net Profit / [Loss]
|
12,121,009.98 |
9,781,003.44 |
9,824,815.61 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY
RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.37 |
1.26 |
1.25 |
|
QUICK RATIO |
TIMES |
0.69 |
0.64 |
0.72 |
|
|
|
|
|
|
|
ACTIVITY
RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
98.16 |
131.94 |
113.83 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.62 |
2.92 |
3.12 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
64.74 |
58.90 |
41.61 |
|
INVENTORY TURNOVER |
TIMES |
5.64 |
6.20 |
8.77 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
67.73 |
60.79 |
64.33 |
|
RECEIVABLES TURNOVER |
TIMES |
5.39 |
6.00 |
5.67 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
102.77 |
81.38 |
95.68 |
|
CASH CONVERSION CYCLE |
DAYS |
29.71 |
38.31 |
10.27 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
87.38 |
87.18 |
90.68 |
|
SELLING & ADMINISTRATION |
% |
9.81 |
10.64 |
8.70 |
|
INTEREST |
% |
0.61 |
0.58 |
0.70 |
|
GROSS PROFIT MARGIN |
% |
12.63 |
12.82 |
10.87 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.81 |
2.19 |
2.17 |
|
NET PROFIT MARGIN |
% |
1.76 |
1.28 |
1.13 |
|
RETURN ON EQUITY |
% |
18.80 |
16.76 |
20.23 |
|
RETURN ON ASSET |
% |
4.62 |
3.74 |
3.53 |
|
EARNING PER SHARE |
BAHT |
80.81 |
65.21 |
65.50 |
|
|
|
|
|
|
|
LEVERAGE
RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.75 |
0.78 |
0.83 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.07 |
3.48 |
4.74 |
|
TIME INTEREST EARNED |
TIMES |
4.63 |
3.75 |
3.09 |
|
|
|
|
|
|
|
ANNUAL
GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(9.80) |
(12.23) |
|
|
OPERATING PROFIT |
% |
15.95 |
(11.58) |
|
|
NET PROFIT |
% |
23.92 |
(0.45) |
|
|
FIXED ASSETS |
% |
21.23 |
(24.28) |
|
|
TOTAL ASSETS |
% |
0.39 |
(6.22) |
|
ANNUAL
GROWTH : IMPRESSIVE
An annual sales growth is -9.8%. Turnover has decreased from
THB
PROFITABILITY
: RISKY
PROFITABILITY
RATIO
|
Gross Profit Margin |
12.63 |
Deteriorated |
Industrial
Average |
46.53 |
|
Net Profit Margin |
1.76 |
Deteriorated |
Industrial
Average |
4.06 |
|
Return on Assets |
4.62 |
Acceptable |
Industrial
Average |
7.10 |
|
Return on Equity |
18.80 |
Acceptable |
Industrial
Average |
30.44 |
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 12.63%. 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 1.76%. 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 4.62%.
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 18.8%.
Trend
of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY
: SATISFACTORY
LIQUIDITY
RATIO
|
Current Ratio |
1.37 |
Impressive |
Industrial
Average |
0.35 |
|
Quick Ratio |
0.69 |
|
|
|
|
Cash Conversion Cycle |
29.71 |
|
|
|
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 1.37 times in 2014, increased 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 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 0.69
times in 2014, increased from 0.64 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 30 days.
Trend
of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE
: IMPRESSIVE
LEVERAGE
RATIO
|
Debt Ratio |
0.75 |
Impressive |
Industrial
Average |
0.79 |
|
Debt to Equity Ratio |
3.07 |
Acceptable |
Industrial
Average |
3.72 |
|
Times Interest Earned |
4.63 |
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 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 4.63 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 0.75 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 Stable
Times Interest Earned Stable
ACTIVITY
: SATISFACTORY
ACTIVITY
RATIO
|
Fixed Assets Turnover |
98.16 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
2.62 |
Impressive |
Industrial
Average |
1.61 |
|
Inventory Conversion Period |
64.74 |
|
|
|
|
Inventory Turnover |
5.64 |
Deteriorated |
Industrial
Average |
14.56 |
|
Receivables Conversion Period |
67.73 |
|
|
|
|
Receivables Turnover |
5.39 |
Acceptable |
Industrial
Average |
8.71 |
|
Payables Conversion Period |
102.77 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.39
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 increased from 59 days at the
end of 2013 to 65 days at the end of 2014. This represents a negative trend.
And Inventory turnover has decreased from 6.2 times in year 2013 to 5.64 times
in year 2014.
The company's Total Asset Turnover is calculated as 2.62
times and 2.92 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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.66.93 |
|
UK Pound |
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Analysis
Done by : |
KAS |
|
|
|
|
Report
Prepared by : |
TRU |
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.