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MIRA INFORM REPORT
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Report No. : |
492046 |
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Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
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Name : |
THAI UNITED INDUSTRY COMPANY LIMITED |
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Registered Office : |
36 Moo 7, Bangna-Trad Road, T. Bangkaew, A. Bangplee, Samutprakarn 10540 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
07.08.1973 |
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Com. Reg. No.: |
0105516008432 |
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Legal Form : |
Private Limited Company |
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|
Line of Business : |
Manufacturer,
Distributor and Exporter of Battery
Separators and Glass Mat |
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No. of Employees : |
300 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
THAI UNITED
INDUSTRY COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 36
MOO 7, BANGNA-TRAD
ROAD,
T.
BANGKAEW, A. BANGPLEE,
SAMUTPRAKARN 10540,
THAILAND
TELEPHONE : [66] 2751-7064,
2316-6022, 2316-7065
FAX :
[66] 2751-7065,
2316-8659, 2751-7065
E-MAIL
ADDRESS : exportdept@thaiunited.co.th
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1973
REGISTRATION
NO. : 0105516008432
TAX
ID NO. : 3101059243
CAPITAL REGISTERED : BHT. 80,000,000
CAPITAL PAID-UP : BHT.
80,000,000
SHAREHOLDER’S PROPORTION : THAI :
74.75%
FOREIGN :
25.25%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
SOMCHAI VONGSCHANPHEN, THAI
MANAGING DIRECTOR
NO.
OF STAFF : 300
LINES
OF BUSINESS : BATTERY
SEPARATORS AND GLASS MAT
MANUFACTURER,
DISTRIBUTOR AND EXPORTER
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 August 7,
1973 as a
private limited company
under the registered
name THAI UNITED
INDUSTRY COMPANY LIMITED, by
Thai and foreign groups, with
the business objective
to manufacture various
kinds of battery
separators and glass mat to
both local and
overseas markets. It
currently employs approximately
300 staff.
The
subject’s registered address
is 36 Moo
7, Bangna-Trad Rd.,
T. Bangkaew, A. Bangplee, Samutprakarn
10540, and this
is the subject’s
current operation address.
THE BOARD OF DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Somchai Vongschanphen |
[x] |
Thai |
77 |
|
Mrs. Nalinee Vongschanphen |
[x] |
Thai |
75 |
|
Mr. Kingyuth Vongchanphen |
[x] |
Thai |
44 |
|
Mr. Kingyong Vongchanphen |
|
Thai |
47 |
|
Mr. Tony, Chau-Hai Chen : Chairman |
[x] |
Thai |
82 |
|
Mr. Richard Chen |
|
Taiwanese |
55 |
|
Mr. Seng Hooi Goh |
|
Thai |
50 |
|
Ms. Somporn Vongschanphen |
|
Thai |
78 |
AUTHORIZED PERSON
Two of the mentioned
directors [x] can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Somchai Vongschanphen is
the Managing Director.
He is Thai
nationality with the
age of 74
years old.
Mr. Kingyuth Vongchanphen is
the Deputy Managing
Director.
He is Thai
nationality with the
age of 44
years old.
Ms. Kongkaew Vongschanphen is
the Administration Manager.
She is Thai
nationality.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing
battery separators such
as liner pulp
separator, synthetic fiber
separator and glass
fiber mater under
its own brand “TUI”.
PRODUCTION
Separators : 1,600,000
square meters/month
Glass mat : 2,500
tons per annum
PURCHASE
Raw materials and
equipment are purchased
from both local
and overseas suppliers,
mainly in Japan,
Taiwan, Indonesia, Germany,
India and Republic
of China.
MAJOR PPLIER
Awa Paper Mfg.
Co., Ltd. : Japan
SALES
60% of the
products is sold
locally by wholesale
to manufacturers, the
remaining 40% is
exported to Japan,
Singapore, Italy, U.K.,
Germany, Sweden, Malaysia,
Philippines, Indonesia, Vietnam,
U.S.A., and Taiwan.
MAJOR CUSTOMERS
Siam Furukawa Co.,
Ltd. : Thailand
Siam GS Battery
Co., Ltd. : Thailand
Thai Storage Battery
Public Company Limited :
Thailand
RELATED AND AFFILIATED COMPANIES
Thai United
Plastic Industry Co.,
Ltd.
Business Type
: Manufacturer of
battery container set
Thai United
Awa Paper Co.,
Ltd.
Business Type
: Manufacturer of
filter papers
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
or T/T.
Exports are against
L/C at sight
or T/T.
BANKING
Bangkok Bank Public
Company Limited
Krung Thai Bank
Public Company Limited
Kasikornbank Public Company
Limited
EMPLOYMENT
The subject employs approximately
300 staff.
LOCATION DETAILS
The premise is owned for administrative office at the heading address. Premise is located in industrial area.
Factory and warehouse are located
at 858 Moo 4, Bangpoo Industrial Estate, Soi 11, T. Prakasa, A. Muang, Samutprakarn 10280.
Facilities:
Site
area :
16,000 square meters
Building
area : 11,200
square meters [total floor]
COMMENT
Despite
a slowdown of
economy, slow expansion
of industrial sector,
shrinking consumers’ purchasing
power as well as
the cheap products
from China which
had an impact
on the subject’s
business in 2016,
the subject’s operating
performance remains strong
and profitable.
FINANCIAL INFORMATION
The capital was registered
at Bht. 4,000,000
divided into 4,000 shares of
Bht. 1,000 each.
The capital was increased
later as following:
Bht. 8,000,000
on January 2,
1979
Bht. 40,000,000
on September 4,
1992
Bht. 80,000,000
on July 26,
1996
The
latest registered capital
was increased to
Bht. 80,000,000 divided into
80,000 shares of
Bht. 1,000 each
with fully paid.
MAIN SHAREHOLDERS
[As at May 31, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Ms. Somchai Vongschanphen Nationality: Thai Address : 85
Soi Chalermkhet 2,
Wadthepsirin,
Pomprabsattrupai, Bangkok |
13,000 |
16.25 |
|
Mrs. Nalinee Vongschanphen Nationality: Thai Address : 83/2
Ekamai Road, Klongton,
Prakanong, Bangkok |
11,800 |
14.75 |
|
Mr. Tony, Chau Hai
Chen Nationality: Thai Address : 27/44
Sukhumvit 19 Road,
Klongtoeynua,
Klongtoey, Bangkok |
8,500 |
10.62 |
|
Mr. Seng Hooi Goh Nationality: Thai Address : 217-223
Yaowaraj Road, Samphantawong, Bangkok |
8,000 |
10.00 |
|
Mrs. Kathy, Wang Li
Xu Chen Nationality: Thai Address : 27/44
Sukhumvit 19 Road,
Klongtoeynua,
Klongtoey, Bangkok |
6,500 |
8.12 |
|
Mrs. Mei Yun Wang
Lin Nationality: Taiwanese Address : Taiwan |
5,000 |
6.25 |
|
Mr. Richard Chen Nationality: Taiwanese Address : 8
Nanjing West Road,
102 Taiwan |
5,000 |
6.25 |
|
Ms. Chen I-Jing Nationality: Taiwanese Address : 8
Nanjing West Road,
102 Taiwan |
5,000 |
6.25 |
|
Ms. Somporn Vongschanphen Nationality: Thai Address : 217
Yaowaraj Road, Samphantawong, Bangkok |
4,800 |
6.00 |
Others |
12,400 |
15.51 |
Total Shareholders : 13
Share Structure
(As at May
31, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
8 |
59,800 |
74.75 |
|
Foreign |
5 |
20,200 |
25.25 |
|
|
|
|
|
|
Total |
13 |
80,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC ACCOUNTANT NO.
Mr. Suthep Dansiriviroj No.
3855
BALANCE SHEET [BAHT]
The
latest financial figures
published for December 31,
2016, 2015 and
2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash Equivalents |
461,835,218.55 |
675,252,317.63 |
525,813,330.38 |
|
Trade Accounts and
Other Receivable |
188,596,237.01 |
207,588,851.98 |
207,208,243.20 |
|
Inventories |
73,798,385.94 |
79,579,333.70 |
78,016,762.73 |
|
Value Added Tax |
- |
- |
7,939,965.86 |
|
Other Current Assets |
20,163,907.39 |
22,854,357.10 |
22,412,100.23 |
|
Total Current Assets
|
744,393,748.89 |
985,274,860.41 |
841,390,402.40 |
|
|
|
|
|
|
Investment in Associated |
161,352,500.00 |
161,352,500.00 |
161,352,500.00 |
|
Property, Plant and
Equipment |
50,289,463.63 |
55,877,200.22 |
62,565,810.07 |
|
Total Assets |
956,035,712.52 |
1,202,504,560.63 |
1,065,308,712.47 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Trade Accounts and Other
Payable |
62,962,934.53 |
52,913,131.10 |
46,156,733.31 |
|
Accrued Income Tax |
34,525,064.72 |
41,856,250.10 |
43,821,321.70 |
|
Other Current Liabilities |
15,080,449.36 |
13,141,745.39 |
11,961,399.03 |
|
Total Current Liabilities |
112,568,448.61 |
107,911,126.59 |
101,939,454.04 |
|
|
|
|
|
|
Provision for Employee Benefits |
1,377,520.00 |
1,277,920.00 |
1,175,940.00 |
|
Liabilities under Hire Purchase Agreements |
- |
- |
412,453.11 |
|
Other Non-current Liabilities |
- |
79,685.14 |
- |
|
Total Liabilities |
113,945,968.61 |
109,268,731.73 |
103,527,847.15 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, and
issued share capital
80,000 shares
|
80,000,000.00 |
80,000,000.00 |
80,000,000.00 |
|
Capital Paid |
80,000,000.00 |
80,000,000.00 |
80,000,000.00 |
|
Retained Earning : [Deficit] Appropriated statutory
reserve |
40,000,000.00 |
40,000,000.00 |
40,000,000.00 |
|
Unappropriated |
722,089,743.91 |
973,235,828.90 |
841,780,952.32 |
|
Total Shareholders’ Equity |
842,089,743.91 |
1,093,235,828.90 |
961,780,865.32 |
|
Total Liabilities and
Shareholders’ Equity |
956,035,712.52 |
1,202,504,560.63 |
1,065,308,712.47 |
PROFIT & LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services Income |
930,511,368.30 |
990,890,917.00 |
1,019,112,342.46 |
|
Other Income |
31,943,179.04 |
29,990,926.42 |
23,561,038.62 |
|
Dividend Income |
- |
- |
16,135,250.00 |
|
Total Revenues |
962,454,547.34 |
1,020,881,843.42 |
1,058,808,631.08 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
716,838,047.46 |
748,615,686.82 |
771,683,601.92 |
|
Selling Expenses |
11,034,444.85 |
11,916,008.12 |
11,796,123.78 |
|
Administrative Expenses |
51,202,140.16 |
47,021,111.09 |
41,967,970.64 |
|
Total Expenses |
779,074,632.47 |
807,552,806.03 |
825,447,696.34 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
183,379,914.87 |
213,329,037.39 |
233,360,934.74 |
|
Financial Cost |
[935.14] |
[17,823.71] |
[40,611.73] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
183,378,979.73 |
213,311,213.68 |
233,320,323.01 |
|
Income Tax |
[34,525,064.72] |
[41,856,250.10] |
[43,821,321.70] |
|
Net Profit / [Loss] |
148,853,915.01 |
171,454,963.58 |
189,499,001.31 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
6.61 |
9.13 |
8.25 |
|
QUICK RATIO |
TIMES |
5.78 |
8.18 |
7.19 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
18.50 |
17.73 |
16.29 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.97 |
0.82 |
0.96 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
37.58 |
38.80 |
36.90 |
|
INVENTORY TURNOVER |
TIMES |
9.71 |
9.41 |
9.89 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
73.98 |
76.47 |
74.21 |
|
RECEIVABLES TURNOVER |
TIMES |
4.93 |
4.77 |
4.92 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
32.06 |
25.80 |
21.83 |
|
CASH CONVERSION CYCLE |
DAYS |
79.50 |
89.47 |
89.28 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
77.04 |
75.55 |
75.72 |
|
SELLING & ADMINISTRATION |
% |
6.69 |
5.95 |
5.28 |
|
INTEREST |
% |
0.00 |
0.00 |
0.00 |
|
GROSS PROFIT MARGIN |
% |
26.40 |
27.48 |
28.17 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
19.71 |
21.53 |
22.90 |
|
NET PROFIT MARGIN |
% |
16.00 |
17.30 |
18.59 |
|
RETURN ON EQUITY |
% |
17.68 |
15.68 |
19.70 |
|
RETURN ON ASSET |
% |
15.57 |
14.26 |
17.79 |
|
EARNING PER SHARE |
BAHT |
1,860.67 |
2,143.19 |
2,368.74 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.12 |
0.09 |
0.10 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.14 |
0.10 |
0.11 |
|
TIME INTEREST EARNED |
TIMES |
196,098.89 |
11,968.83 |
5,746.15 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(6.09) |
(2.77) |
|
|
OPERATING PROFIT |
% |
(14.04) |
(8.58) |
|
|
NET PROFIT |
% |
(13.18) |
(9.52) |
|
|
FIXED ASSETS |
% |
(10.00) |
(10.69) |
|
|
TOTAL ASSETS |
% |
(20.50) |
12.88 |
|
ANNUAL GROWTH:
RISKY
An annual sales growth is -6.09%. Turnover has decreased from THB
PROFITABILITY:
IMPRESSIVE
PROFITABILITY
RATIO
|
Gross Profit Margin |
26.40 |
Acceptable |
Industrial
Average |
58.95 |
|
Net Profit Margin |
16.00 |
Impressive |
Industrial Average |
7.82 |
|
Return on Assets |
15.57 |
Impressive |
Industrial
Average |
9.36 |
|
Return on Equity |
17.68 |
Impressive |
Industrial
Average |
17.13 |
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 26.4%. 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. Net Profit Margin ratio is 16%,
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. Return on Assets ratio is
15.57%, 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.
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 17.68%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY :
IMPRESSIVE
LIQUIDITY RATIO
|
Current Ratio |
6.61 |
Impressive |
Industrial
Average |
2.07 |
|
Quick Ratio |
5.78 |
|
|
|
|
Cash Conversion Cycle |
79.50 |
|
|
|
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 6.61 times in 2016, decrease from 9.13 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 5.78 times in 2016,
decrease from 8.18 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 80 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.12 |
Impressive |
Industrial
Average |
0.41 |
|
Debt to Equity Ratio |
0.14 |
Impressive |
Industrial
Average |
0.70 |
|
Times Interest Earned |
196,098.89 |
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 lower the percentage means that the company is
using less leverage and has a stronger equity position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 196098.89 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 0.12 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:
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
18.50 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
0.97 |
Satisfactory |
Industrial
Average |
1.20 |
|
Inventory Conversion Period |
37.58 |
|
|
|
|
Inventory Turnover |
9.71 |
Impressive |
Industrial
Average |
5.26 |
|
Receivables Conversion Period |
73.98 |
|
|
|
|
Receivables Turnover |
4.93 |
Satisfactory |
Industrial
Average |
5.73 |
|
Payables Conversion Period |
32.06 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.93 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 39 days at the
end of 2015 to 38 days at the end of 2016. This represents a positive trend.
And Inventory turnover has increased from 9.41 times in year 2015 to 9.71 times
in year 2016.
The company's Total Asset Turnover is calculated as 0.97 times and 0.82
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 Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.91 |
|
|
1 |
INR 90.31 |
|
Euro |
1 |
INR 80.71 |
|
Thai Baht |
1 |
INR 2.06 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.