MIRA
INFORM REPORT
|
Report No. : |
342551 |
|
Report Date : |
26.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
BLUECHIPS MICROHOUSE CO.,LTD. |
|
|
|
|
Registered Office : |
212/2
Moo 10, Super Highway
Chiangmai- Lamphun Road, T.
U-Mong, A. Muang, Lamphun
51150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
14.09.1999 |
|
|
|
|
Com. Reg. No.: |
0515542000113 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in sub-contract for design and manufacturing of
electronic assembly products, e.g.
printed circuit board [PCB], printed
circuit board assembly [PCBA],
LED/LCD display, human
machine interface [HMI], touch-terminals, HMI
touch-panel monitors &
IPCS, automation assembly/electronic components,
RF products, graphical
LCD displays, industrial
control components |
|
|
|
|
No. of Employee : |
290 |
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 |
B1 |
|
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
BLUECHIPS
MICROHOUSE CO.,LTD.
SUMMARY
BUSINESS
ADDRESS : 212/2
MOO 10, SUPER HIGHWAY
CHIANGMAI-
LAMPHUN
ROAD, T. U-MONG,
A. MUANG, LAMPHUN 51150,
THAILAND
TELEPHONE : [66] 53
091-327-9, 085 695-0045-6
FAX :
[66] 53
091-330
E-MAIL
ADDRESS : sales@bluechips.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1999
REGISTRATION
NO. : 0515542000113 [Former
: LOR POR.
328]
TAX
ID NO. : 3551004695
CAPITAL REGISTERED : BHT. 40,000,000
CAPITAL PAID-UP : BHT.
40,000,000
SHAREHOLDER’S PROPORTION : GERMAN :
100%
FISCAL YEAR CLOSING DATE : JUNE
30
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
THOMAS ANDREAS ZIMPFER,
GERMAN
MANAGING DIRECTOR
NO.
OF STAFF : 290
LINES
OF BUSINESS : ELECTRONIC PARTS
MANUFACTURER,
EXPORTER AND DISTRIBUTOR
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 September 14, 1999 as
a private limited
company under the
registered name BLUECHIPS
MICROHOUSE CO., LTD., by
German groups, in
order to manufacture
electronic parts to
both local and
overseas markets. It
currently employs approximately
290 staff.
The
subject was granted
promotional privileges from
the Board of
Investment (BOI), as
well as achieved
the ISO 9001 : 2000 certification in 2003 and ISO 14001 : 2004 certification in
2008 from UKAS.
The subject’s registered
address is 212/2
Moo 10, Super Highway
Chiangmai-Lamphun Rd., T.
U-mong, A. Muang, Lamphun
51150, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Thomas Andreas Zimpfer |
|
German |
56 |
|
Mrs. Elke Sabine Zimpfer |
|
German |
55 |
|
Mrs. Natthaya Chotik-arbha |
|
Thai |
59 |
|
Mr. Michael Ian Mackenzie |
|
British |
23 |
|
Ms. Lena Katharina Zimpfer |
|
German |
26 |
|
Ms. Inga Zimpfer |
|
German |
25 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Thomas Andreas
Zimpfer is the
Managing Director.
He is German
nationality with the
age of 56
years old.
Mrs. Elke Sabine Zimpfer is the Deputy Managing Manager.
She is German
nationality with the age
of 55 years old.
Ms. Pichamol
Chanphaichayontra is the
Technical Sales &
Marketing Manager.
She is Thai
nationality.
Ms. Lena Kathating Zimpfer
is General Manager/Purchasing Manager.
She is British
nationality with the
age of 26
years old.
Mr. Phairat Roskaew is
the Production Manager.
He is Thai
nationality.
Mr. Sakchai Sukviwatkitkul is
the Assistant Technical
Sales & Marketing Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity is a sub-contract for design and
manufacturing of electronic assembly
products, e.g. printed circuit board [PCB], printed circuit
board assembly [PCBA], LED/LCD
display, human machine
interface [HMI], touch-terminals, HMI
touch-panel monitors &
IPCS, automation assembly/electronic components,
RF products, graphical
LCD displays, industrial
control components and
etc., to OEMs
and ODMs customers.
The products
and services are as follows:
- Surface
Mount [SMT]
- Through
Hole [IMT]
- Chip On Board [COB], clean room [class
10.000]
- Laser-marking technologies
- Box-building [case design & manufacture]
- Rapid-prototyping
- Mold
making and injection
molding capabilities.
The subject has
its own software
and hardware development
facilities for customer’s
projects. Its engineering
department is divided
into three major
subdivisions, consist of
hardware development, software
development and mechanical
engineering.
PURCHASE
90% of
electronic components and
spare parts are
imported from Germany,
Taiwan,
Republic of China,
Malaysia, Japan, India,
Hong Kong, Vietnam
and U.S.A., the
remaining
10% is
purchased from local
suppliers.
MAJOR SUPPLIERS
SK Polymer
Co., Ltd. : Thailand
Single Point
Part Co., Ltd. :
Thailand
KCE Electronics
Public Company Limited : Thailand
EXPORT
99% of
the products is
exported mainly to
Germany, and the
remaining to France, United
Kingdom, Italy, Switzerland,
Japan, Taiwan, Republic of China, Singapore, India,
Mexico, United States
of America and
Malaysia.
SALES [LOCAL]
1%
of the products
is sold locally
to computer, automotive,
electrical appliance manufacturers
and etc.
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
credit terms 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 L/C
at sight or
T/T.
BANKING
The
Siam Commercial Bank
Public Co., Ltd.
[Lamphun Branch : 324 Changmai-Lamphun Road, T. U-mong, A.
Muang, Lamphun]
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
290 staff [office
staff and factory
workers].
LOCATION DETAILS
The
premise is rented
for administrative office,
factory and warehouse
on 2,900 square
meters of land,
at the heading
address. Premise is
located in provincial, in the
Northern region of
Thailand.
COMMENT
The
subject is one of the
leading manufacturers of
electronic parts, which have been
widely used in various industries. Despite slowdown
of automobile, electrical appliances and other electronic products
industries in the year
2011, which have decreased demand
of the electronic parts,
subject still maintains
healthy business.
Subject’s business
in the year
2014 was promising
despite a political
turmoil and low
consumer spending.
FINANCIAL INFORMATION
The capital was
registered at Bht. 10,000
divided into 1,000
shares of Bht. 10
each.
The
capital was increased
later as follows:
Bht. 14,000,000
on October 28,
1999
Bht. 20,000,000
on September 28,
2004
Bht. 40,000,000
on September 24,
2010
The
latest registered capital
was increased to Bht.
40,000,000 divided into
4,000,000 shares of
Bht. 10 each with
fully paid.
THE SHAREHOLDERS LISTED WERE
[as at
October 28, 2014]
|
NAME |
HOLDING
|
% |
|
|
|
|
|
Mr. Thomas Andreas
Zimpfer Nationality: German Address : 212/2 Moo 10, T. U-mong,
A. Muang, Lamphun |
3,999,998 |
100.00 |
|
Mrs. Elke Sabine Zimpfer Nationality: German Address : 212/2 Moo 10, T. U-mong,
A. Muang, Lamphun |
1 |
- |
|
Ms. Lena Katharina Zimpfer Nationality: German Address : 212/2 Moo 10, T. U-mong,
A. Muang, Lamphun |
1 |
- |
Total Shareholders : 3
Share Structure [as at October
28, 2014]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign - German |
3 |
4,000,000 |
100.00 |
|
Total |
3 |
4,000,000 |
100.00 |
NAME
OFAUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Prommin Rattanitch No. 3849
BALANCE SHEET [BAHT]
The latest
financial figures published
for June 30, 2014,
2013 & 2012 were:
ASSETS
|
Current Assets |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Cash and
Cash Equivalents |
59,327,045 |
49,907,572 |
55,631,512 |
|
Trade Accounts
& Other Receivable |
84,818,312 |
77,878,752 |
53,939,460 |
|
Inventories |
238,355,824 |
217,509,011 |
177,191,092 |
|
Real Estate for Investment |
- |
- |
3,849,030 |
|
Other Current
Assets |
16,818,890 |
10,312,018 |
8,271,763 |
|
|
|
|
|
|
Total Current
Assets
|
399,320,071 |
355,607,353 |
298,882,857 |
|
Non-operating Assets
|
1,137,218 |
1,051,071 |
11,550,826 |
|
Non-current Assets Held for Sale |
- |
- |
680,555 |
|
Fixed Assets |
132,600,617 |
68,004,487 |
63,726,142 |
|
Intangible Assets |
8,721,199 |
7,741,752 |
5,323,390 |
|
Other Non-current Assets
|
173,000 |
146,000 |
274,125 |
|
Total Assets |
541,952,105 |
432,550,663 |
380,437,895 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Promissory Notes |
- |
3,800,000 |
- |
|
Trade Accounts
& Other Payable |
97,938,042 |
96,788,885 |
64,504,814 |
|
Current Portion of
Long-term Liabilities |
11,197,700 |
1,003,887 |
13,745,213 |
|
Current Portion of
Long-term Loan
from Directors |
13,596,556 |
18,897,094 |
29,506,717 |
|
Accrued Expenses &
Other Current Liabilities |
15,331,673 |
27,992,131 |
27,143,326 |
|
|
|
|
|
|
Total Current Liabilities |
138,063,971 |
148,481,997 |
134,900,070 |
|
Loan from Director |
151,464,731 |
87,939,263 |
99,784,677 |
|
Long-term Liabilities
-
Net of Current Portion |
23,833,902 |
1,362,181 |
746,638 |
|
Employee Benefits
Obligation |
4,748,212 |
4,351,630 |
2,476,615 |
|
Total Liabilities |
318,110,816 |
242,135,071 |
237,908,000 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share
capital : Baht 10 par
value
authorized, issued and
fully
paid share capital
4,000,000 shares |
40,000,000 |
40,000,000 |
40,000,000 |
|
|
|
|
|
|
Capital Paid |
40,000,000 |
40,000,000 |
40,000,000 |
|
Retained Earning
Appropriated for Statutory Reserve |
4,000,000 |
4,000,000 |
4,000,000 |
|
Unappropriated |
179,841,289 |
146,415,592 |
98,529,895 |
|
Total Shareholders' Equity |
223,841,289 |
190,415,592 |
142,529,895 |
|
Total Liabilities & Shareholders'
Equity |
541,952,105 |
432,550,663 |
380,437,895 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2014 |
2013 |
2012 |
|
|
|
|
|
|
Sales and Service Income |
621,049,310 |
531,920,297 |
395,294,316 |
|
Other Income |
3,940,580 |
5,063,828 |
6,293,303 |
|
Gain/[Loss] on Exchange Rate |
6,839,469 |
5,277,286 |
[985,141] |
|
Total Revenues |
631,829,359 |
542,261,411 |
400,602,478 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold & Service |
488,260,730 |
446,485,026 |
331,035,659 |
|
Selling Expenses |
29,426,950 |
27,586,011 |
23,816,961 |
|
Administrative Expenses |
17,060,597 |
17,680,825 |
16,958,609 |
|
Total Expenses |
534,748,277 |
491,751,862 |
371,811,229 |
|
|
|
|
|
|
Profit before
Finance Cost and
Income Tax |
97,081,082 |
50,509,549 |
28,791,249 |
|
Finance Cost |
[2,788,803] |
[2,394,814] |
[2,371,743] |
|
Profit before Income
Tax |
94,292,279 |
48,114,735 |
26,419,506 |
|
Income Tax |
[866,582] |
[229,038] |
[78,814] |
|
|
|
|
|
|
Net
Profit / [Loss] |
93,425,697 |
47,885,697 |
26,340,692 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2014 |
2013 |
2012 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.89 |
2.39 |
2.22 |
|
QUICK RATIO |
TIMES |
1.04 |
0.86 |
0.81 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
4.68 |
7.82 |
6.20 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.15 |
1.23 |
1.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
178.18 |
177.81 |
195.37 |
|
INVENTORY TURNOVER |
TIMES |
2.05 |
2.05 |
1.87 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
49.85 |
53.44 |
49.81 |
|
RECEIVABLES TURNOVER |
TIMES |
7.32 |
6.83 |
7.33 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
73.21 |
79.12 |
71.12 |
|
CASH CONVERSION CYCLE |
DAYS |
154.82 |
152.13 |
174.05 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
78.62 |
83.94 |
83.74 |
|
SELLING & ADMINISTRATION |
% |
7.49 |
8.51 |
10.32 |
|
INTEREST |
% |
0.45 |
0.45 |
0.60 |
|
GROSS PROFIT MARGIN |
% |
23.12 |
18.01 |
17.60 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
15.63 |
9.50 |
7.28 |
|
NET PROFIT MARGIN |
% |
15.04 |
9.00 |
6.66 |
|
RETURN ON EQUITY |
% |
41.74 |
25.15 |
18.48 |
|
RETURN ON ASSET |
% |
17.24 |
11.07 |
6.92 |
|
EARNING PER SHARE |
BAHT |
23.36 |
11.97 |
6.59 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.59 |
0.56 |
0.63 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.42 |
1.27 |
1.67 |
|
TIME INTEREST EARNED |
TIMES |
34.81 |
21.09 |
12.14 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
16.76 |
34.56 |
|
|
OPERATING PROFIT |
% |
92.20 |
75.43 |
|
|
NET PROFIT |
% |
95.10 |
81.79 |
|
|
FIXED ASSETS |
% |
94.99 |
6.71 |
|
|
TOTAL ASSETS |
% |
25.29 |
13.70 |
|
ANNUAL GROWTH : EXCELLENT
An annual sales growth is 16.76%. Turnover has increased from THB
PROFITABILITY :
ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
23.12 |
Impressive |
Industrial Average |
21.48 |
|
Net Profit Margin |
15.04 |
Satisfactory |
Industrial Average |
16.83 |
|
Return on Assets |
17.24 |
Deteriorated |
Industrial Average |
45.24 |
|
Return on Equity |
41.74 |
Deteriorated |
Industrial Average |
88.20 |
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 23.12%. 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 15.04%.
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 17.24%.
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. When compared with the
industry average, it was lower, the company's figure is 41.74%.
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 |
2.89 |
Impressive |
Industrial Average |
1.55 |
|
Quick Ratio |
1.04 |
|
|
|
|
Cash Conversion Cycle |
154.82 |
|
|
|
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 2.89 times in 2014, increase from 2.39 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 1.04 times in 2014,
increase from 0.86 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 155 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.59 |
Acceptable |
Industrial Average |
0.47 |
|
Debt to Equity Ratio |
1.42 |
Risky |
Industrial Average |
0.89 |
|
Times Interest Earned |
34.81 |
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 34.82 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 0.59 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 |
4.68 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.15 |
Deteriorated |
Industrial Average |
2.69 |
|
Inventory Conversion Period |
178.18 |
|
|
|
|
Inventory Turnover |
2.05 |
Deteriorated |
Industrial Average |
9.83 |
|
Receivables Conversion Period |
49.85 |
|
|
|
|
Receivables Turnover |
7.32 |
Satisfactory |
Industrial Average |
7.97 |
|
Payables Conversion Period |
73.21 |
|
|
|
The company's Account Receivable Ratio is calculated as 7.32 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 178 days at the
end of 2013 to 178 days at the end of 2014. This represents a negative trend.
And Inventory turnover is 2.05 times in
year 2013, same figure
as in the
year 2014.
The company's Total Asset Turnover is calculated as 1.15 times and 1.23
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.66.10 |
|
|
1 |
Rs.100.89 |
|
Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.