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%20%20COMPANY%20%20LIMITED%20-%20505418%2025-Apr-2018_files/image017.jpg){kind=small}
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MIRA INFORM REPORT
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Report No. : |
505418 |
|
Report Date : |
25.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
LOXPAC (THAILAND) COMPANY LIMITED |
|
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|
|
Formerly Known As : |
LOXLEY PACIFIC COMPANY LIMITED |
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|
Registered Office : |
20th Floor, Sethiwan Tower, 139 Pan Road, Silom, Bangrak, Bangkok 10500 |
|
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Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
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Date of Incorporation : |
28.06.1996 |
|
|
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Com. Reg. No.: |
0105539072102 |
|
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Legal Form : |
Private Limited Company |
|
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|
Line of Business : |
The subject operates
as a service
provider of telecommunications network
system installation, repair
and maintenance for
Rason Special Economic
Zone, known earlier
as the Rajin-Sonbong Economic
Zone, in the North
Korea. |
|
|
|
|
No. of Employees : |
12 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
US$ 1,000,000 |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Thailand |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
THAILAND - ECONOMIC OVERVIEW
With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two-thirds of GDP. Thailand’s exports include electronics, agricultural commodities, automobiles and parts, and processed foods. The industry and service sectors produce about 90% of GDP. The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one-third of the labor force. Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly from neighboring countries.
Over the last few decades, Thailand has reduced poverty substantially. In 2013, the Thai Government implemented a nationwide 300 baht (roughly $10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners.
Thailand’s economy is recovering from slow growth during the years since the 2014 coup. Thailand’s economic fundamentals are sound, with low inflation, low unemployment, and reasonable public and external debt levels. Tourism and government spending - mostly on infrastructure and short-term stimulus measures – have helped to boost the economy, and The Bank of Thailand has been supportive, with several interest rate reductions.
Over the longer-term, household debt levels, political uncertainty, and an aging population pose risks to
growth.
|
Source
: CIA |
Company
name
LOXPAC
(THAILAND) COMPANY LIMITED
[FORMER :
LOXLEY PACIFIC COMPANY
LIMITED]
SUMMARY
BUSINESS
ADDRESS : 20th FLOOR,
SETHIWAN TOWER,
139 PAN
ROAD, SILOM, BANGRAK,
BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2348-8000
FAX :
[66] 2348-8001
E-MAIL ADDRESS : -
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1996
REGISTRATION
NO. : 0105539072102 [Former : [2] 2812/2539]
TAX
ID NO. : 3011736371
CAPITAL REGISTERED : BHT. 700,000,000
CAPITAL PAID-UP : BHT.
700,000,000
SHAREHOLDER’S PROPORTION : FOREIGN :
73.88%
THAI
: 26.12%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. CHIH-CHUNG KUEI,
AMERICAN
MANAGING DIRECTOR
NO.
OF STAFF : 12
LINES
OF BUSINESS : TELECOMMUNICATION NETWORK
INSTALLATION
SERVICE
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on June 28,
1996 as a
private limited company under
the registered name “Loxley Pacific Company
Limited” initially by
Loxley Public Company
Limited and foreign
groups. The subject
purchased a right
in concession from
Loxley Public Company Limited
which has been
granted a concession
by the DPRK
Ministry of Posts and
Telecommunications, the North
Korea, for telecommunications network
system installation for
27 years.
On
September 20, 2013,
its name was
changed to LOXPAC
(THAILAND) COMPANY LIMITED.
It currently employs
12 staff.
The
subject’s registered address
was 102 Loxley
Building, Sunthornkosa Rd.,
Klongtoey, Bangkok 10110.
In
2013, its registered
address was relocated
to 20th Floor,
Sethiwan Tower, 139
Pan Road, Silom, Bangrak, Bangkok 10500, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Tit Shan Sandy-Cheng |
|
Chinese |
71 |
|
Mr. Dominic Raymund Azurin
Ramos |
|
Filipino |
54 |
|
Mr. Chih-Chung Kuei |
|
American |
68 |
AUTHORIZED PERSON
Two of the
mentioned directors can
jointly sign on
behalf of the subject with
company’s affixed.
MANAGEMENT
Mr. Chih-Chung Kuei is
the Managing Director.
He is American
nationality with the
age of 68
years old.
Mr. Risto Tolonen is
the Chief Operation
Officer.
He is Finn
nationality.
Mr. Charles C.Y. Han
is the Chief
Finance Officer.
He is Taiwanese
nationality.
BUSINESS OPERATIONS
The subject operates
as a service
provider of telecommunications network
system installation, repair
and maintenance for
Rason Special Economic
Zone, known earlier
as the Rajin-Sonbong
Economic Zone, in the
North Korea.
The subject purchased
a right in
concession from Loxley
Public Company Limited
which has been
granted a 27
years concession by the DPRK
Ministry of Posts
and Telecommunications of North Korea
for telecommunications network
system installation in
Rason Special Economic Zone,
providing the access
to international network,
under the name
“The Rason International
Telecommunications Centre”. The
agreement has been
signed on September
29, 1995 for
a period of
27 years. The
project has been
run by the
North-East Asia Telephone
and Telecommunications Co.,
Ltd. of DPRK [Democratic People’s
Republic of Korea].
PURCHASE
The communication system
equipment are purchased
from local and
overseas suppliers in
Japan, India, Sweden
and Republic of
China.
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
Services are by
cash or on
negotiated terms.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
T/T.
BANKING
Kasikornbank Public Co.,
Ltd.
[Klongtoey Branch, Sunthornkosa
Rd., Klongtoey, Bangkok]
The Siam Commercial
Bank Public Co.,
Ltd.
[Head Office, 9
Ratchadapisek Rd., Jatujak,
Bangkok]
EMPLOYMENT
The
subject employs 12
staff.
LOCATION
DETAILS
The
premise is rented
for administrative office
at the heading
address. Premise is
located in commercial
area.
REMARK
MAXIMUM CREDIT SHOULD
BE GRANTED AT
US$ 1,000,000.
COMMENT
The
subject provides telephone
lines and services
in North Korea.
The subject also
hires sub contractor
in North Korea
to work as
a local services
company.
A
part of the 27
years concession since
1995, the subject
has faced with
various problems from
North Korea government, however,
the works are
still going on
with
some
obstacle. Despite an
increase in sales or
service income in
2016, it obtained a
net loss. However,
it expects an increase
in sales or
service income yearly
in order to
become profit and
eliminate the retained
earning (deficit) in the
future.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 150,000,000
divided into 15,000,000
shares of Bht.
10 each.
The
capital was increased
later as following:
Bht. 300,000,000
on August 20,
1996
Bht. 450,000,000
on September 12,
2000
Bht. 550,000,000
on December 27,
2000
Bht. 600,000,000
on September 25,
2001
Bht. 700,000,000
on February 13,
2002
The
latest registered capital
was increased to
Bht. 700,000,000 divided into
70,000,000 shares of
Bht. 10 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
March 30, 2018]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Peng Wei Lin Nationality: Chinese Address : Shenzhen,
Republic of China |
22,840,000 |
32.63 |
|
Tiffany Consultants Ltd. Nationality: Chinese (Hong
Kong) Address : 18/F,
Cigna Tower, 482
Jaffe Road,
Causeway Bay, Hong
Kong |
21,520,000 |
30.74 |
|
CTW-Beta Co., Ltd. Nationality: Thai Address : 589/71
Bangna-Trad Rd., Bangna,
Bangkok |
18,284,500 |
26.12 |
|
Sigma Cable Company
(Pte) Ltd. Nationality: Singaporean Address : 19
Benoi Rd., Sigma Cable
High Tech Complex, Jurong Town, Singapore |
6,333,000 |
9.05 |
|
J & C Savage Agencies
Co., Ltd. Nationality: Hong Kong Address : 2-20
Paterson Street, Causeway
Bay, Hong Kong |
900,000 |
1.29 |
|
Mr. Sun Tao Heng Nationality: Taiwanese Address : 589/71 Bangna-Trad Rd.,
Bangna, Bangkok |
122,500 |
0.17 |
Total Shareholders : 6
SHARE STRUCTURE [AS
AT MARCH 30,
2018]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
18,284,500 |
26.12 |
|
Foreign |
5 |
51,715,500 |
73.88 |
|
Total |
6 |
70,000,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Somboon
Mahasrisaengpetch No. 3867
Financials
LOXPAC
(THAILAND) COMPANY LIMITED
BALANCE SHEET [BAHT]
The
latest financial figures
published for December 31,
2016, 2015 and
2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 [Adjusted] |
|
|
|
|
|
|
Cash and Cash Equivalents |
102,376,104 |
95,650,527 |
23,006,834 |
|
Trade Accounts and
Other Receivable |
99,026,449 |
15,350,091 |
25,023,161 |
|
Short-term Loans |
- |
- |
41,771,914 |
|
Inventories |
422,810 |
117,210 |
117,210 |
|
Total Current Assets
|
201,825,363 |
111,117,828 |
89,919,119 |
|
Other Long-term Investment |
50,800,408 |
50,800,408 |
12,760,981 |
|
Property, Plant and
Equipment |
1,341,139 |
1,911,160 |
575,259 |
|
Intangible Assets |
168,136,740 |
193,317,360 |
- |
|
Other Non-current Assets |
10,571,153 |
915,685 |
218,955,884 |
|
Total Assets |
432,674,803 |
358,062,441 |
322,211,243 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 [Adjusted] |
|
|
|
|
|
|
Trade Accounts and Other
Payable |
149,455,879 |
62,538,630 |
9,074,638 |
|
Total Current Liabilities |
149,455,879 |
62,538,630 |
9,074,638 |
|
|
|
|
|
|
Provision for Employee Benefits |
3,856,756 |
4,201,783 |
3,688,156 |
|
Total Liabilities |
153,312,635 |
66,740,413 |
12,762,794 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 10
par value authorized, and
issued share capital
70,000,000 shares
|
700,000,000 |
700,000,000 |
700,000,000 |
|
Capital Paid |
700,000,000 |
700,000,000 |
700,000,000 |
|
Retained Earning -Unappropriated [Deficit] |
[420,637,832] |
[408,677,972] |
[390,551,551] |
|
Total Shareholders’ Equity |
279,362,168 |
291,322,028 |
309,448,449 |
|
Total Liabilities and
Shareholders’ Equity |
432,674,803 |
358,062,441 |
322,211,243 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 [Adjusted] |
|
|
|
|
|
|
Sales or Services Income |
108,521,438 |
31,139,737 |
32,382,207 |
|
Other Income |
1,421,257 |
4,738,020 |
2,777,971 |
|
Total Revenues |
109,942,695 |
35,877,757 |
35,160,178 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
73,288,355 |
3,238,599 |
11,919,082 |
|
Selling Expenses |
2,006,471 |
3,940,707 |
3,304,099 |
|
Administrative Expenses |
46,607,729 |
46,824,872 |
54,901,477 |
|
Total Expenses |
121,902,555 |
54,004,178 |
70,124,658 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
[11,959,860] |
[18,126,421] |
[34,964,480] |
|
Financial Cost |
- |
- |
[111,143] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
[11,959,860] |
[18,126,421] |
[34,975,623] |
|
Income Tax |
- |
- |
- |
|
Net Profit / [Loss] |
[11,959,860] |
[18,126,421] |
[34,975,623] |
LOXPAC
(THAILAND) COMPANY LIMITED
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.35 |
1.78 |
9.91 |
|
QUICK RATIO |
TIMES |
1.35 |
1.77 |
9.90 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
80.92 |
16.29 |
56.29 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.25 |
0.09 |
0.10 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
2.11 |
13.21 |
3.59 |
|
INVENTORY TURNOVER |
TIMES |
173.34 |
27.63 |
101.69 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
333.06 |
179.92 |
282.05 |
|
RECEIVABLES TURNOVER |
TIMES |
1.10 |
2.03 |
1.29 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
744.34 |
7,048.29 |
277.89 |
|
CASH CONVERSION CYCLE |
DAYS |
(409.17) |
(6,855.16) |
7.75 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
67.53 |
10.40 |
36.81 |
|
SELLING & ADMINISTRATION |
% |
44.80 |
163.03 |
179.75 |
|
INTEREST |
% |
- |
- |
0.34 |
|
GROSS PROFIT MARGIN |
% |
33.78 |
104.82 |
71.77 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
(11.02) |
(58.21) |
(107.97) |
|
NET PROFIT MARGIN |
% |
(11.02) |
(58.21) |
(108.01) |
|
RETURN ON EQUITY |
% |
(4.28) |
(6.22) |
(11.30) |
|
RETURN ON ASSET |
% |
(2.76) |
(5.06) |
(10.85) |
|
EARNING PER SHARE |
BAHT |
(0.17) |
(0.26) |
(0.50) |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.35 |
0.19 |
0.04 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.55 |
0.23 |
0.04 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
(314.59) |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
248.50 |
(3.84) |
|
|
OPERATING PROFIT |
% |
(34.02) |
(48.16) |
|
|
NET PROFIT |
% |
34.02 |
48.17 |
|
|
FIXED ASSETS |
% |
(29.83) |
232.23 |
|
|
TOTAL ASSETS |
% |
20.84 |
11.13 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is 248.5%. Turnover has increased from THB
PROFITABILITY :
RISKY
%20%20COMPANY%20%20LIMITED%20-%20505418%2025-Apr-2018_files/image022.gif)
PROFITABILITY
RATIO
|
Gross Profit Margin |
33.78 |
Acceptable |
Industrial Average |
121.33 |
|
Net Profit Margin |
(11.02) |
Deteriorated |
Industrial Average |
2.06 |
|
Return on Assets |
(2.76) |
Deteriorated |
Industrial Average |
2.43 |
|
Return on Equity |
(4.28) |
Deteriorated |
Industrial Average |
8.60 |
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 33.78%. 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 -11.02%.
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 -2.76%.
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 -4.28%.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
SATISFACTORY
%20%20COMPANY%20%20LIMITED%20-%20505418%2025-Apr-2018_files/image024.gif)
LIQUIDITY RATIO
|
Current Ratio |
1.35 |
Satisfactory |
Industrial Average |
1.94 |
|
Quick Ratio |
1.35 |
|
|
|
|
Cash Conversion Cycle |
(409.17) |
|
|
|
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 1.35 times in 2016, decrease from 1.78 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 1.35 times in 2016,
decrease from 1.77 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 -410 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
%20%20COMPANY%20%20LIMITED%20-%20505418%2025-Apr-2018_files/image026.gif)
%20%20COMPANY%20%20LIMITED%20-%20505418%2025-Apr-2018_files/image028.gif)
LEVERAGE RATIO
|
Debt Ratio |
0.35 |
Impressive |
Industrial Average |
0.70 |
|
Debt to Equity Ratio |
0.55 |
Impressive |
Industrial Average |
2.39 |
|
Times Interest Earned |
- |
|
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.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.35 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
%20%20COMPANY%20%20LIMITED%20-%20505418%2025-Apr-2018_files/image030.gif)
ACTIVITY RATIO
|
Fixed Assets Turnover |
80.92 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
0.25 |
Deteriorated |
Industrial Average |
1.18 |
|
Inventory Conversion Period |
2.11 |
|
|
|
|
Inventory Turnover |
173.34 |
Impressive |
Industrial Average |
3.85 |
|
Receivables Conversion Period |
333.06 |
|
|
|
|
Receivables Turnover |
1.10 |
Acceptable |
Industrial Average |
3.21 |
|
Payables Conversion Period |
744.34 |
|
|
|
The company's Account Receivable Ratio is calculated as 1.10 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 13 days at the
end of 2015 to 2 days at the end of 2016. This represents a positive trend. And
Inventory turnover has increased from 27.63 times in year 2015 to 173.34 times
in year 2016.
The company's Total Asset Turnover is calculated as 0.25 times and 0.09
times in 2016 and 2015 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 Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 66.36 |
|
|
1 |
INR 92.51 |
|
Euro |
1 |
INR 81.05 |
|
Thai baht |
1 |
INR 2.12 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.