MIRA INFORM REPORT
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Report No. : |
342798 |
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Report Date : |
30.09.2015 |
IDENTIFICATION DETAILS
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Name : |
HITACHI ASIA [THAILAND] CO., LTD. |
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Registered Office : |
18th Floor, Ramaland Building, 952 Rama 4 Road, Suriyawongse, Bangrak, Bangkok 10500 |
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Country : |
Thailand |
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|
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Financials (as on) : |
31.03.2015 |
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|
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Year of Establishment : |
1992 |
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Com. Reg. No.: |
0105535127948 |
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Legal Form : |
Private
Limited Company |
|
|
|
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Line of Business : |
Subject is engaged
in importing, marketing
and exporting wide
range of industrial
electrical and electronics
systems. The products
and services ranging
from power and
infrastructure systems, information and telecommunication systems, electronic devices
to international procurement
services. Its products
include material parts
and components, power
and industrial processes
machinery, industrial components and equipment,
industrial air conditioning
system [motor/compressor],
crane, hoist |
|
|
|
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No. of Employee : |
120 |
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 |
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Status : |
Satisfactory |
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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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
HITACHI ASIA
[THAILAND] CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 18th FLOOR,
RAMALAND BUILDING,
952
RAMA 4 ROAD,
SURIYAWONGSE,
BANGRAK,
BANGKOK 10500, THAILAND
TELEPHONE : [66] 2632-9292
FAX :
[66] 2632-9299
E-MAIL
ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1992
REGISTRATION
NO. : 0105535127948
TAX
ID NO. : 3011172926
CAPITAL REGISTERED : BHT. 154,000,000
CAPITAL PAID-UP : BHT.
154,000,000
SHAREHOLDER’S PROPORTION : FOREIGN : 98.25%
THAI : 1.75%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. YASUO MIZUTANI,
JAPANESE
MANAGING DIRECTOR
NO.
OF STAFF : 120
LINES
OF BUSINESS : INDUSTRIAL ELECTRICAL
AND ELECTRONICS
SYSTEMS AND
SOLUTIONS
IMPORTER, DISTRIBUTOR,
MARKETER
AND SERVICE
PROVIDER
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 September 11,
1992 as a private
limited company under
the registered name
HITACHI ASIA [THAILAND]
CO., LTD., by Thai
and foreign groups,
with the business
objective to supply
products and service
wide range of
industrial electrical and
electronics systems. It
currently employs approximately
120 staff.
The
subject’s registered address
is 18th Floor,
Ramaland Building, 952
Rama 4 Road,
Suriyawongse, Bangrak, Bangkok
10500, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Yasuo Mizutani |
[x] |
Japanese |
52 |
|
Mr. Hirohiko Morisaki |
|
Japanese |
55 |
|
Mr. Yasuhiro Morishima |
|
Japanese |
57 |
AUTHORIZED PERSON
Only the mentioned
director [x] can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Yasuo Mizutani is
the Managing Director.
He is Japanese
nationality with the
age of 52 years
old.
BUSINESS OPERATIONS
The subject
is engaged in
importing, marketing and exporting wide
range of industrial
electrical and electronics
systems. The products
and services ranging
from power and
infrastructure systems, information and telecommunication systems, electronic devices
to international procurement
services. Its products
include material parts
and components, power
and industrial processes
machinery, industrial components and equipment,
industrial air conditioning
system [motor/compressor],
crane, hoist.
PURCHASE
Most of the
products are imported
from Japan, Singapore, Indonesia
and Malaysia, the
remaining is purchased
from local suppliers.
SALES/SERVICES
Most of the
products are sold
and serviced locally to
traders, manufacturers and
end-users, the remaining
is re-exported to
Laos, Myanmar and
Cambodia.
MAJOR CUSTOMER
Berli
Jucker Public Company
Limited : Thailand
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
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
or T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
Kasikornbank
Public Co., Ltd.
Bank
of Tokyo Mitsubishi
UFJ Ltd.
[Bangkok
Branch, 54 North
Sathorn Road, Silom,
Bangrak, Bangkok]
EMPLOYMENT
The
subject employs approximately
120 staff.
LOCATION DETAILS
The
premise is rented for
administrative office at
the heading address.
Premise is located
in a prime
commercial area.
COMMENT
The company is the leading
firm in focusing more than ever on the Social
Innovation Business, which includes infrastructure systems, information &
telecommunication systems, power systems, construction machinery, high
functional materials & components
and others.
During
fiscal 2014, the
year ended March
31, 2015, growth
in domestic and
the global economy
was sluggish as
a whole, despite
continuity of economic
recovery in the
USA, global economic
growth was weighted
down by fiscal
austerity in EU
and financial uncertainties
among Southern European
countries, as well
as a negative
impact by the continuous slowdown
in the pace
of economic growth
in China.
FINANCIAL INFORMATION
The
capital was registered at Bht. 6,000,000 divided
into 60,000 shares of
Bht. 100 each with
fully paid.
The
capital was increased
later as follows:
Bht. 18,000,000
on August 18,
1996
Bht. 36,000,000
on October 8,
1999
Bht. 154,000,000
on March 31,
2015
The
latest registered capital
was increased to
Bht. 154 million, divided
into 1,540,000 shares
of Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE
[as at
June 19, 2015]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Hitachi Asia Ltd. Nationality: Singaporean Address : 7
Tampines Grand, #08-01
Hitachi Square,
Singapore |
1,512,999 |
98.25 |
|
Hitachi Transport System
Vantec [Thailand] Ltd. Nationality: Thai Address : 11/8-11/9
Moo 9, Bangna-Trad
Road, T.
Bangchalong, A. Bangplee, Samutprakarn |
27,000 |
1.75 |
|
Mr. Yasuo Mizutani Nationality: Japanese Address : 952
Rama 4 Road,
Suriyawongse, Bangrak, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as
at June 19,
2015]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
27,000 |
1.75 |
|
Foreign |
2 |
1,513,000 |
98.25 |
|
Total |
3 |
1,540,000 |
100.00 |
NAME
OF AUDITOR &
CERTIFIED PUBLIC ACCOUNTANT
NO.
Ms. Manee Rattanabannakit No.
5313
Financials
HITACHI ASIA [THAILAND] CO., LTD.
BALANCE SHEET [BAHT]
The latest financial figures published
as at March 31,
2015, 2014 &
2013 were:
ASSETS
|
Current Assets |
2015 |
2014 |
2013 [Adjusted] |
|
|
|
|
|
|
Cash and Cash Equivalents |
259,195,539 |
185,384,390 |
128,909,197 |
|
Trade Accounts &
Other Receivable |
363,652,784 |
358,277,499 |
390,458,748 |
|
Current Portion of Long-term Loans to Related company |
854,085,410 |
- |
- |
|
Short-term Loans to Related Company |
4,911,598,976 |
5,639,734,770 |
5,164,291,910 |
|
Inventories |
38,990,241 |
27,549,152 |
56,073,528 |
|
Derivative Assets |
26,443,330 |
21,491,434 |
- |
|
Other Current Assets
|
12,761,937 |
25,772,900 |
16,393,994 |
|
|
|
|
|
|
Total Current Assets
|
6,466,728,217 |
6,258,210,145 |
5,756,127,377 |
|
|
|
|
|
|
Long-term Investment
|
59,308,000 |
59,308,000 |
59,308,000 |
|
Long-term Loans to Related company, Net of
Current Portion |
1,119,125,885 |
1,667,644,083 |
841,821,527 |
|
Fixed Assets |
8,275,317 |
13,138,127 |
7,323,274 |
|
Intangible Assets |
3,073,126 |
2,247,258 |
2,503,059 |
|
Other Non-current Assets |
3,836,837 |
3,509,837 |
2,623,475 |
|
Total Assets |
7,660,347,382 |
8,004,057,450 |
6,669,706,712 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2015 |
2014 |
2013 [Adjusted] |
|
|
|
|
|
|
Short-term Loan from Financial Institutions |
763,526,253 |
1,000,000,000 |
920,000,000 |
|
Trade Accounts & Other
Payable |
206,031,683 |
224,863,802 |
269,691,367 |
|
Current Portion of
Long-term Loans from Financial Institutions |
263,426,303 |
- |
- |
|
Short-term Loan from Related Company |
5,507,074,775 |
5,781,084,440 |
5,025,830,262 |
|
Accrued Income Tax |
7,604,231 |
10,477,844 |
11,852,774 |
|
Derivative Liabilities |
25,552,415 |
11,178,490 |
60,245,869 |
|
Other Current Liabilities |
18,855,614 |
48,141,606 |
24,727,511 |
|
|
|
|
|
|
Total Current Liabilities |
6,792,071,274 |
7,075,746,182 |
6,312,347,783 |
|
Long-term Loan from Financial Institutions |
208,858,562 |
471,407,439 |
- |
|
Provision for Employee Benefits
|
4,810,077 |
4,344,407 |
5,570,446 |
|
Total Liabilities |
7,005,739,913 |
7,551,498,028 |
6,317,918,229 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized and
issued share capital 1,540,000 shares
in 2015 & 360,000
shares in 2014 & 2013 |
154,000,000 |
36,000,000 |
36,000,000 |
|
|
|
|
|
|
Capital Paid |
154,000,000 |
36,000,000 |
36,000,000 |
|
Retained Earnings: Appropriated for statutory
reserve |
3,600,000 |
3,600,000 |
3,600,000 |
|
Unappropriated |
497,007,469 |
412,959,422 |
312,188,483 |
|
Total Shareholders' Equity |
654,607,469 |
452,559,422 |
351,788,483 |
|
Total Liabilities & Shareholders' Equity |
7,660,347,382 |
8,004,057,450 |
6,669,706,712 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2015 |
2014 |
2013 [Adjusted] |
|
|
|
|
|
|
Sales Income |
1,123,272,288 |
1,128,901,161 |
1,290,373,824 |
|
Service Income |
189,786,245 |
230,762,155 |
209,811,848 |
|
Interest Income |
224,230,814 |
215,812,473 |
199,474,237 |
|
Other Income |
40,398,447 |
23,417,851 |
13,899,962 |
|
Total Revenues |
1,577,687,794 |
1,598,893,640 |
1,713,559,871 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
985,523,981 |
986,394,814 |
1,217,044,969 |
|
Cost of Service |
108,534,921 |
151,893,094 |
128,608,862 |
|
Selling Expenses |
96,049,236 |
75,457,978 |
46,894,743 |
|
Administrative Expenses |
106,966,898 |
94,492,921 |
76,176,346 |
|
Total Expenses |
1,297,075,036 |
1,308,238,807 |
1,468,724,920 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
280,612,758 |
290,654,833 |
244,834,951 |
|
Financial Cost |
[171,369,371] |
[164,995,994] |
[164,895,917] |
|
Profit / [Loss] before Income
Tax |
109,243,387 |
125,658,839 |
79,939,034 |
|
Income Tax |
[19,795,340] |
[24,887,900] |
[20,045,115] |
|
|
|
|
|
|
Net Profit / [Loss] |
89,448,047 |
100,770,939 |
59,893,919 |
HITACHI ASIA
[THAILAND] CO., LTD.
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2015 |
2014 |
2013 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.95 |
0.88 |
0.91 |
|
QUICK RATIO |
TIMES |
0.94 |
0.87 |
0.90 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
158.67 |
103.49 |
204.85 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.17 |
0.17 |
0.22 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
13.01 |
8.83 |
15.21 |
|
INVENTORY TURNOVER |
TIMES |
28.06 |
41.32 |
24.00 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
101.09 |
96.18 |
95.00 |
|
RECEIVABLES TURNOVER |
TIMES |
3.61 |
3.80 |
3.84 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
68.74 |
72.10 |
73.15 |
|
CASH CONVERSION CYCLE |
DAYS |
45.36 |
32.91 |
37.06 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
83.32 |
83.72 |
89.70 |
|
SELLING & ADMINISTRATION |
% |
15.46 |
12.50 |
8.20 |
|
INTEREST |
% |
13.05 |
12.14 |
10.99 |
|
GROSS PROFIT MARGIN |
% |
36.83 |
33.88 |
24.52 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
21.37 |
21.38 |
16.32 |
|
NET PROFIT MARGIN |
% |
6.81 |
7.41 |
3.99 |
|
RETURN ON EQUITY |
% |
13.66 |
22.27 |
17.03 |
|
RETURN ON ASSET |
% |
1.17 |
1.26 |
0.90 |
|
EARNING PER SHARE |
BAHT |
58.08 |
279.92 |
166.37 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.91 |
0.94 |
0.95 |
|
DEBT TO EQUITY RATIO |
TIMES |
10.70 |
16.69 |
17.96 |
|
TIME INTEREST EARNED |
TIMES |
1.64 |
1.76 |
1.48 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(3.43) |
(9.37) |
|
|
OPERATING PROFIT |
% |
(3.45) |
18.71 |
|
|
NET PROFIT |
% |
(11.24) |
68.25 |
|
|
FIXED ASSETS |
% |
(37.01) |
79.40 |
|
|
TOTAL ASSETS |
% |
(4.29) |
20.01 |
|
ANNUAL GROWTH :
RISKY
An annual sales growth is -3.43%. Turnover has decreased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
36.83 |
Impressive |
Industrial
Average |
28.51 |
|
Net Profit Margin |
6.81 |
Impressive |
Industrial
Average |
4.94 |
|
Return on Assets |
1.17 |
Deteriorated |
Industrial
Average |
9.55 |
|
Return on Equity |
13.66 |
Acceptable |
Industrial
Average |
22.60 |
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 36.83%. 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 6.81%, 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. When compared with the
industry average, it was lower, the company's figure is 1.17%.
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 13.66%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.95 |
Risky |
Industrial
Average |
1.57 |
|
Quick Ratio |
0.94 |
|
|
|
|
Cash Conversion Cycle |
45.36 |
|
|
|
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 0.95 times in 2015, increased from 0.88 times, then the company may
have problems meeting its short-term obligations. 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 0.94 times in 2015,
increased from 0.87 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 46 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.91 |
Acceptable |
Industrial
Average |
0.58 |
|
Debt to Equity Ratio |
10.70 |
Risky |
Industrial
Average |
1.39 |
|
Times Interest Earned |
1.64 |
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 1.64 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 0.91 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 :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
158.67 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.17 |
Deteriorated |
Industrial
Average |
2.03 |
|
Inventory Conversion Period |
13.01 |
|
|
|
|
Inventory Turnover |
28.06 |
Impressive |
Industrial
Average |
5.62 |
|
Receivables Conversion Period |
101.09 |
|
|
|
|
Receivables Turnover |
3.61 |
Acceptable |
Industrial
Average |
5.19 |
|
Payables Conversion Period |
68.74 |
|
|
|
The company's Account Receivable Ratio is calculated as 3.61 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 9 days at the end
of 2014 to 13 days at the end of 2015. This represents a negative trend. And
Inventory turnover has decreased from 41.32 times in year 2014 to 28.06 times
in year 2015.
The company's Total Asset Turnover is calculated as 0.17 times and 0.17
times in 2015 and 2014 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.66.18 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.