MIRA INFORM REPORT
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Report No. : |
341422 |
|
Report Date : |
22.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
TINSELS LIMITED |
|
|
|
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Formerly Known As : |
PALS TRADING CO., LTD. |
|
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Registered Office : |
124 Soi Charoennakorn 10, Charoennakorn Road, Klongtonsai, Klongsan, Bangkok 10600 |
|
|
|
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Country : |
Thailand |
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|
|
Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
06.08.1996 |
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|
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Com. Reg. No.: |
0105539086774 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Exporter of Food Products. |
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No. of Employees : |
21 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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, 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
TINSELS LIMITED
[FORMER: PALS TRADING CO., LTD.]
SUMMARY
BUSINESS ADDRESS : 124
SOI CHAROENNAKORN 10,
CHAROENNAKORN ROAD,
KLONGTONSAI,
KLONGSAN, BANGKOK
10600, THAILAND
TELEPHONE : [66] 2438-5195-7
FAX :
[66] 2861-0233
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1996
REGISTRATION
NO. : 0105539086774
TAX
ID NO. : 3011751893
CAPITAL REGISTERED : BHT. 7,000,000
CAPITAL PAID-UP : BHT.
7,000,000
SHAREHOLDER’S PROPORTION : THAI :
51.00%
INDIAN :
49.00%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. HARINDERPAL SINGH
CHAWLA, INDIAN
MANAGING DIRECTOR
NO.
OF STAFF : 21
LINES
OF BUSINESS : FOOD
PRODUCTS
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 August 6,
1996 as a
private limited company
under the originally
registered name “Pals
Trading Co., Ltd.”,
by Thai and
Indian groups. On
January 24, 2005,
its registered name
was changed to TINSELS
LIMITED. Its business
objective is to
export various kinds
of Thai foods
products. It currently
employs 21 staff.
The
subject’s registered address
is 124 Soi
Charoennakorn 10, Charoennakorn
Road,
Klongtonsai,
Klongsan, Bangkok 10600,
and this is
the subject’s current
operation
address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Harinderpal Singh Chawla |
[x] |
Indian |
45 |
|
Mr. Satpal Singh Chawla |
[x] |
Thai |
72 |
|
Mr. Rattan Gambhir |
|
Thai |
49 |
AUTHORIZED
PERSON
One of the
mentioned directors [x]
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Harinderpal Singh
Chawla is the
Managing Director.
He is Indian
nationality with the
age of 45
years old.
BUSINESS
OPERATIONS
The subject
is engaged in
exporting various kinds
of Thai foods
products. Its products
are as follows:
·
Coconut
-
Coconut
cream, coconut cream
powder, coconut milk,
coconut juice with
pulp and coconut
juice with meat
·
Fruits
- Fruit salad,
Green jack nut,
jack fruit, longan
fruit, pineapple crush,
pineapple pieces, pineapple
pizza cut, pineapple
slice, rambutan,
·
Mushroom
-
Straw
mushroom, shitake mushroom
·
Pastes
-
Curry pastes
·
Rice
& Noodles
-
Agro
rice products, rice
stick, parboiled rice
stick, vermicelli, rice
stick noodles, instant
noodle products, glass
noodles
·
Seafood
-
Crab
meat, dried fish
maw, tuna skip
jack chunk, tuna
skip jack flakes,
tuna skip jack
solid, pals sardines
in vegetable oil,
pals mackerel in
vegetable oil
·
Sauces
& Oils
-
Chicken dipping sauce,
chili sauce, sauce,
fish sauce, pepper
sauce,
oyster sauce, sweet
soya sauce, chili
oil, sesame oil,
vinegar
·
Spices
- Seasoning
powder, fungus, cubes,
curry powder, dried
kaffir lime leaf,
paprika powder, pepper
corn, seasoning powder
PURCHASE
100% of the
products is purchased
from local suppliers.
EXPORT
100% of the
products is exported
to Republic of
China, Pakistan, India,
Singapore, Laos, Vietnam, Malaysia,
New Zealand, Hong
Kong, Australia, United
States of America,
United Arab Emirates
and many countries
in Middle East
and Europe.
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
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
The
Siam Commercial Bank
Public Co., Ltd.
EMPLOYMENT
The
subject currently employs
21 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
COMMENT
The
subject is an
exporter of food
products. Since its
establishment in 1996,
the subject’s business
has dramatically grown
and expected to
grow steadily in
the year 2015.
FINANCIAL
INFORMATION
The
capital was registered at Bht. 2,000,000 divided into 2,000
shares of Bht. 1,000
each with fully
paid.
The
capital was increased
later as follows:
Bht. 5,000,000
on January 24,
2005
Bht. 7,000,000
on February 18,
2008
The
latest registered capital
was increased to
Bht. 7,000,000 divided into
7,000 shares of
Bht. 1,000 each with
fully paid.
THE
SHAREHOLDERS LISTED WERE
[as
at April 30,
2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Rattan Gambhir Nationality: Thai Address : 577/124
Charansanitwong Road,
Wadthaphra, Bangkokyai, Bangkok
|
950 |
13.57 |
|
Mr. Harinderpal Singh Chawla Nationality: Indian Address : 443
Ladya Road, Somdejchaopraya,
Klongsan, Bangkok |
925 |
13.21 |
|
Mrs. Kiranjit Gor Chawla Nationality: Indian Address : 443
Ladya Road, Somdejchaopraya,
Klongsan, Bangkok |
925 |
13.21 |
|
Mr. Harbhajan Singh Sandhu Nationality: Thai Address : 114/65
Moo 5, Pakkred,
Nonthaburi |
800 |
11.43 |
|
Mr. Sukhwinder Pal Chawla Nationality: Indian Address : 443
Ladya Road, Somdejchaopraya,
Klongsan, Bangkok |
700 |
10.00 |
|
Mrs. Uraiwan Kambir Nationality: Thai Address : 577/124
Charansanitwong Road,
Wadthaphra, Bangkokyai, Bangkok
|
500 |
7.14 |
|
Mr. Satpal Singh Chawla Nationality: Thai Address : 443
Ladya Road, Somdejchaopraya,
Klongsan, Bangkok |
500 |
7.14 |
|
Mr. Sudesh Kumar Patia Nationality: Thai Address : 577/132
Charansanitwong Road,
Wadthaphra, Bangkokyai, Bangkok
|
475 |
6.79 |
|
Mrs. Muthu Patia Nationality: Indian Address : 577/132
Charansanitwong Road,
Wadthaphra, Bangkokyai, Bangkok
|
475 |
6.79 |
|
Mrs. Kulwinder Kaur Chawla Nationality: Indian Address : 443
Ladya Road, Somdejchaopraya,
Klongsan, Bangkok |
380 |
5.43 |
|
Mrs. Kulwant Kaur Chawla Nationality: Thai Address : 577/205
Charansanitwong Road,
Wadthaphra, Bangkokyai, Bangkok
|
370 |
5.29 |
Total Shareholders : 11
Share Structure [as
at April 30,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
6 |
3,570 |
51.00 |
|
Foreign - Indian |
5 |
3,430 |
49.00 |
|
Total |
11 |
7,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Somchai Konggetyai No.
10057
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 |
344,562.02 |
96,719.42 |
65,383.35 |
|
Short-term Investment |
1,314,800.50 |
1,300,000.00 |
- |
|
Trade Accounts &
Other Receivable |
13,681,721.26 |
17,613,269.75 |
39,055,604.75 |
|
Inventories |
3,302,346.28 |
4,084,237.53 |
3,917,594.62 |
|
Other Current Assets
|
184,968.72 |
686,085.37 |
214,678.00 |
|
|
|
|
|
|
Total Current Assets
|
18,828,398.78 |
23,780,312.07 |
43,253,260.72 |
|
|
|
|
|
|
Equipments |
167,797.85 |
339,047.91 |
579,566.13 |
|
Other Non-current Assets |
1,516,535.76 |
1,516,535.76 |
1,579,535.76 |
|
Total Assets |
20,512,732.39 |
25,635,895.74 |
45,412,362.61 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Bank Overdraft & Short-term Loan from Financial Institutions |
15,094,150.71 |
13,666,619.56 |
7,120,332.80 |
|
Trade Accounts & Other
Payable |
771,052.27 |
8,101,657.67 |
35,023,848.36 |
|
Current Portion of
Hire-purchase Contract Liabilities |
15,304.68 |
93,096.00 |
77,212.76 |
|
Current Portion of
Financial Lease Contract Liabilities |
- |
- |
193,151.18 |
|
Accrued Income Tax |
123,735.76 |
126,829.55 |
139,887.68 |
|
|
|
|
|
|
Total Current Liabilities |
16,004,243.42 |
21,988,202.78 |
42,554,432.78 |
|
Hire-purchase Contract Liabilities |
- |
8,381.86 |
101,477.86 |
|
Total Liabilities |
16,004,243.42 |
21,996,584.64 |
42,655,910.64 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized and
issued share capital
7,000 shares |
7,000,000.00 |
7,000,000.00 |
7,000,000.00 |
|
|
|
|
|
|
Capital Paid |
7,000,000.00 |
7,000,000.00 |
7,000,000.00 |
|
Retained Earning Unappropriated [Deficit] |
[2,491,511.03] |
[3,360,688.90] |
[4,243,548.03] |
|
Total Shareholders' Equity |
4,508,488.97 |
3,639,311.10 |
2,756,451.97 |
|
Total Liabilities &
Shareholders' Equity |
20,512,732.39 |
25,635,895.74 |
45,412,362.61 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales Income |
114,163,878.20 |
95,842,169.11 |
86,047,491.62 |
|
Gain on Exchange Rate |
- |
2,334,928.18 |
- |
|
Other Income |
1,565,153.89 |
2,066,053.32 |
4,546,939.68 |
|
Total Revenues |
115,729,032.09 |
100,243,150.61 |
90,594,431.30 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
104,356,627.20 |
90,003,887.60 |
79,569,396.12 |
|
Selling Expenses |
4,369,809.18 |
4,426,480.13 |
6,508,218.93 |
|
Administrative Expenses |
3,665,538.62 |
3,707,594.04 |
2,884,929.25 |
|
Loss on Exchange Rate |
1,490,556.16 |
- |
- |
|
Total Expenses |
113,882,531.16 |
98,137,961.77 |
88,962,544.30 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
1,846,500.93 |
2,105,188.84 |
1,631,887.00 |
|
Financial Cost |
[743,248.06] |
[986,415.71] |
[696,831.35] |
|
Profit / [Loss] before Income
Tax |
1,103,252.87 |
1,118,773.13 |
935,055.65 |
|
Income Tax |
[234,075.00] |
[235,914.00] |
[227,412.00] |
|
|
|
|
|
|
Net Profit / [Loss] |
869,177.87 |
882,859.13 |
707,643.65 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.18 |
1.08 |
1.02 |
|
QUICK RATIO |
TIMES |
0.96 |
0.86 |
0.92 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
680.37 |
282.68 |
148.47 |
|
TOTAL ASSETS TURNOVER |
TIMES |
5.57 |
3.74 |
1.89 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
11.55 |
16.56 |
17.97 |
|
INVENTORY TURNOVER |
TIMES |
31.60 |
22.04 |
20.31 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
43.74 |
67.08 |
165.67 |
|
RECEIVABLES TURNOVER |
TIMES |
8.34 |
5.44 |
2.20 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
2.70 |
32.86 |
160.66 |
|
CASH CONVERSION CYCLE |
DAYS |
52.60 |
50.79 |
22.98 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
91.41 |
93.91 |
92.47 |
|
SELLING & ADMINISTRATION |
% |
7.04 |
8.49 |
10.92 |
|
INTEREST |
% |
0.65 |
1.03 |
0.81 |
|
GROSS PROFIT MARGIN |
% |
9.96 |
10.68 |
12.81 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
1.62 |
2.20 |
1.90 |
|
NET PROFIT MARGIN |
% |
0.76 |
0.92 |
0.82 |
|
RETURN ON EQUITY |
% |
19.28 |
24.26 |
25.67 |
|
RETURN ON ASSET |
% |
4.24 |
3.44 |
1.56 |
|
EARNING PER SHARE |
BAHT |
124.17 |
126.12 |
101.09 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.78 |
0.86 |
0.94 |
|
DEBT TO EQUITY RATIO |
TIMES |
3.55 |
6.04 |
15.47 |
|
TIME INTEREST EARNED |
TIMES |
2.48 |
2.13 |
2.34 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
19.12 |
11.38 |
|
|
OPERATING PROFIT |
% |
(12.29) |
29.00 |
|
|
NET PROFIT |
% |
(1.55) |
24.76 |
|
|
FIXED ASSETS |
% |
(50.51) |
(41.50) |
|
|
TOTAL ASSETS |
% |
(19.98) |
(43.55) |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is 19.12%. Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
9.96 |
Deteriorated |
Industrial
Average |
41.34 |
|
Net Profit Margin |
0.76 |
Acceptable |
Industrial
Average |
1.46 |
|
Return on Assets |
4.24 |
Satisfactory |
Industrial
Average |
5.04 |
|
Return on Equity |
19.28 |
Impressive |
Industrial
Average |
16.29 |
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 9.96%. 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 0.76%.
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 4.24%.
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 19.28%, 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 :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
1.18 |
Satisfactory |
Industrial
Average |
1.37 |
|
Quick Ratio |
0.96 |
|
|
|
|
Cash Conversion Cycle |
52.60 |
|
|
|
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 1.18 times in 2014, increased from 1.08 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 0.96 times in 2014,
increased from 0.86 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 53 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.78 |
Acceptable |
Industrial
Average |
0.64 |
|
Debt to Equity Ratio |
3.55 |
Risky |
Industrial
Average |
1.79 |
|
Times Interest Earned |
2.48 |
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 2.49 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 0.78 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 :
EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
680.37 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
5.57 |
Impressive |
Industrial
Average |
3.45 |
|
Inventory Conversion Period |
11.55 |
|
|
|
|
Inventory Turnover |
31.60 |
Impressive |
Industrial
Average |
7.28 |
|
Receivables Conversion Period |
43.74 |
|
|
|
|
Receivables Turnover |
8.34 |
Impressive |
Industrial
Average |
5.33 |
|
Payables Conversion Period |
2.70 |
|
|
|
The company's Account Receivable Ratio is calculated as 8.34 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 17 days at the
end of 2013 to 12 days at the end of 2014. This represents a positive trend.
And Inventory turnover has increased from 22.04 times in year 2013 to 31.6
times in year 2014.
The company's Total Asset Turnover is calculated as 5.57 times and 3.74
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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.75 |
|
|
1 |
Rs.102.17 |
|
Euro |
1 |
Rs.74.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.