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MIRA
INFORM REPORT
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Report No. : |
496740 |
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Report Date : |
10.03.2018 |
IDENTIFICATION DETAILS
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Name : |
PLATINUM PRO PLASTIC CO., LTD. |
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Registered Office : |
99/11 Moo 6, T. Makhamku, A. Nikhompattana, Rayong 21180 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
04.09.2006 |
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Com. Reg. No.: |
0105549105925 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
The
subject is engaged
in manufacturing, distributing and
exporting various kinds
of plastic products
such as plastic
auto parts, plastic
pallets, plastic bins,
plastic crates, plastic
chairs, plastic bucket,
plastic containers and
etc., under its
own brand “AMERICAN HULKBULL”,
as well as providing
manufacturing service of
the products under
OEM & ODM customer’s brands.
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No. of Employees : |
400 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Thailand |
A2 |
A2 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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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
PLATINUM PRO PLASTIC
CO., LTD.
SUMMARY
BUSINESS ADDRESS : 99/11
MOO 6, T.
MAKHAMKU,
A. NIKHOMPATTANA, RAYONG
21180,
THAILAND
TELEPHONE : [66] 38
917-244
FAX : [66]
38 917-248, 38
917-247
E-MAIL ADDRESS : marketing@platinumproplastic.com
pu@platinumproplastic.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2006
REGISTRATION NO.
: 0105549105925
TAX ID NO. : 3032336086
CAPITAL
REGISTERED : BHT.
300,000,000
CAPITAL
PAID-UP : BHT.
300,000,000
SHAREHOLDER’S PROPORTION : THAI : 100%
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PIYASAK SAMRITPIPAT, THAI
MANAGING DIRECTOR
NO. OF
STAFF : 400
LINES OF BUSINESS : PLASTIC PRODUCTS
MANUFACTURER, DISTRIBUTOR
AND 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
September 4, 2006
as a private
limited company under
the registered name
PLATINUM PRO PLASTIC
CO., LTD., by
Thai groups, with
the business objective
to manufacture various
kinds of plastic
products for local
and overseas markets.
It currently employs
approximately 400 staff.
The subject’s
registered address is
99/11 Moo 6,
T. Makhamku, A.
Nikhompattana,
Rayong 21180,
and this is the company’s
current operation address.
THE BOARD
OF DIRECTOR
Mr. Piyasak
Samritpipat
AUTHORIZED PERSON
The above
director signs on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Piyasak
Samritpipat is the
Managing Director.
He is
Thai nationality with the
age of 63
years old.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, distributing and
exporting various kinds
of plastic products
such as plastic
auto parts, plastic
pallets, plastic bins,
plastic crates, plastic
chairs, plastic bucket,
plastic containers and
etc., under its
own brand “AMERICAN HULKBULL”,
as well as providing
manufacturing service of
the products under
OEM & ODM customer’s brands.
The products
are supplied to
various industries such
as automobiles, foods
and beverage, papers
and etc.
PRODUCTION CAPACITY
30,000 tons
per annum
PURCHASE
Most of
raw materials such
as plastic resins
[PP, PE and
HDPE] are purchased from
local suppliers, the
remaining is imported
from Republic of
China, U.S.A., Germany
and Taiwan.
MAJOR SUPPLIER
IRPC Public
Company Limited :
Thailand
Inabata Thai
Co., Ltd. : Thailand
SALES
80% of
the products is
sold locally to
manufacturers and wholesalers,
the remaining 20%
is exported to
India, Republic of
China, Cambodia, Singapore,
Malaysia, Vietnam, Hong
Kong, Taiwan, Korea,
Australia, India, Myanmar
and the country
in Europe.
MAJOR CUSTOMER
Boon Rawd
Brewery Group : Thailand
Pepsi-Cola (Thai)
Trading Co., Ltd. : Thailand
Nestle (Thai)
Ltd. : Thailand
PTT Group : Thailand
Mitr Phol
Sugar Corp. Ltd. : Thailand
Thai Airways
International Public Company
Limited : Thailand
SUBSIDAIRY
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 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 T/T.
Exports are
against T/T.
BANKING
Bangkok Bank
Public Company Limited
EMPLOYMENT
The subject
employs approximately 400
staff.
LOCATION DETAILS
The premise
is owned for
operating administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial.
Other Factories:
33 Moo
3, T. Makhamku,
A. Nikhompattana, Rayong
21180
99/13 Moo
6, T. Makhamku,
A. Nikhompattana, Rayong
21180
111/2 Moo
4, T. Lamsai, A. Wangnoi,
Ayutthaya 13170
69/4 Moo
11, Budhamonthon Sai 5 Road,
T. Raiking, A. Sampran,
Nakornpathom 73210
Branch
& Bangkok Office :
-
271, 273, 275, 277
Kanchanapisek Road, Laksong,
Bangkae, Bangkok 10160
COMMENT
The subject
was formed in 2006
as a manufacturer,
distributor and exporter
of plastic products.
Its products are
mainly served to
general users. Despite a slowdown
of economy and
shrinking consumers’
spending which resulted
to a decrease
in sales or
service income in
2016 comparing to
the previous year,
the subject managed
to obtain net
profit. Generally, it operates
a moderate business.
FINANCIAL INFORMATION
The capital
was initially registered
at Bht. 100,000,000 divided
into 1,000,000 shares of
Bht. 100 each.
The registered
capital were increased
later as follows:
Bht.
125,000,000 on October
17, 2007
Bht.
200,000,000 on March
28, 2010
Bht.
300,000,000 on January
7, 2016
The latest
registered capital was
increased to Bht. 300,000,000 divided
into 3,000,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE : [as at
April 30, 2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Piyasak Samritpipat Nationality:
Thai Address
: 54 Trok
Wat Ratchawarin 3
Rd., Bukkalo,
Thonburi, Bangkok |
2,994,000 |
99.80 |
|
Mr. Anuchit Samritpipat Nationality:
Thai Address
: 49 Trok
Wat Ratchawarin 3
Rd., Bukkalo, Thonburi, Bangkok |
1,000 |
|
|
Mr.
Natthavuth Boonpalart Nationality:
Thai Address
: 31/16 Moo
10, Trok Nokkhet
Rd., Bangklo,
Bangkorlaem, Bangkok |
1,000 |
|
|
Ms. Ratana Eiamvorasombat Nationality:
Thai Address
: 298/23 Moo
5, Thungkru, Bangkok |
1,000 |
= 0.20 |
|
Ms.
Chayanis Eiamvorasombat Nationality:
Thai Address
: 27 Soi
Chalermkhet 2, Wat
Thepsirin,
Pomprabsattrupai, Bangkok |
1,000 |
|
|
Mrs.
Sasithan Eiamvorasombat Nationality:
Thai Address
: 31/272 Moo
10, Bangpai, Bangkae,
Bangkok |
1,000 |
|
|
Mrs.
Watchara Eiamvorasombat Nationality:
Thai Address
: 3601/147 Moo 10,
Trok Nokkhet Rd.,
Bangklo, Bangkorlaem, Bangkok |
1,000 |
|
Total Shareholders
: 7
Share Structure
[as at April
30, 2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
7 |
3,000,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
7 |
3,000,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Ms. Kanokthip
Ngamvilaikorn No. 7291
financials
PLATINUM PRO
PLASTIC CO., LTD.
BALANCE
SHEET [BAHT]
The latest
financial figures published as at December
31, 2016, 2015
and 2014 were:
ASSETS
|
Current Assets |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Cash and Cash
Equivalents |
2,027,330.66 |
26,065,424.94 |
5,527,640.93 |
|
Short-term Investment |
23,691.70 |
13,465.16 |
13,332.72 |
|
Trade
Accounts and Other
Receivable |
223,308,931.44 |
401,247,444.81 |
221,228,337.21 |
|
Inventories |
285,802,560.39 |
198,975,156.67 |
228,903,558.59 |
|
Other
Current Assets |
2,152,850.41 |
7,421,385.82 |
9,271,816.79 |
|
|
|
|
|
|
Total
Current Assets |
513,315,364.60 |
633,722,877.40 |
464,944,686.24 |
|
|
|
|
|
|
Other Long-term Investment |
51,977,996.27 |
- |
- |
|
Property, Plant and Equipment |
679,416,058.98 |
741,031,100.16 |
370,088,912.77 |
|
Intangible Assets |
2,792,491.64 |
1,362,139.03 |
1,887,681.60 |
|
Other
Non-current Assets |
74,557,194.43 |
116,055,259.58 |
254,847,412.25 |
|
Total
Assets |
1,322,059,105.92 |
1,492,171,376.17 |
1,091,768,692.86 |
LIABILITIES
& SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank Overdraft
and Short-term Loan from Financial
Institutions |
451,897,341.62 |
516,853,998.08 |
398,290,611.34 |
|
Trade
Accounts and Other
Payable |
132,638,144.40 |
199,461,489.69 |
164,579,955.13 |
|
Current
Portion of Long-term Liabilities |
41,814,858.60 |
59,637,649.24 |
22,440,000.00 |
|
Short-term Loans |
- |
- |
145,879,371.18 |
|
Accrued Income Tax |
290,093.46 |
3,513,715.20 |
2,452,409.21 |
|
Other
Current Liabilities |
117,458,893.01 |
236,151,599.99 |
11,082,984.25 |
|
|
|
|
|
|
Total Current Liabilities |
744,099,331.09 |
1,015,618,452.20 |
744,725,331.11 |
|
Long-term Loan,
Net of Current Portion |
154,953,711.98 |
166,914,459.07 |
56,601,491.03 |
|
Provision for
Employee Benefits |
12,602,939.27 |
11,911,659.88 |
4,382,120.08 |
|
Other Non-current Liabilities |
9,766,438.20 |
10,969,503.90 |
14,075,320.94 |
|
Total Liabilities |
921,422,420.54 |
1,205,414,075.05 |
819,784,263.16 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital :
Baht 100 par
value
authorized and issued
share capital
3,000,000 shares in
2016 |
300,000,000.00 |
|
|
|
2,000,000 shares
in 2015 & 2014 |
|
200,000,000.00 |
200,000,000.00 |
|
|
|
|
|
|
Capital
Paid |
300,000,000.00 |
200,000,000.00 |
200,000,000.00 |
|
Retained Earning
- Unappropriated [Deficit] |
100,636,685.38 |
86,757,301.12 |
71,984,429.70 |
|
Total
Shareholders' Equity |
400,636,685.38 |
286,757,301.12 |
271,984,429.70 |
|
Total
Liabilities and Shareholders' Equity |
1,322,059,105.92 |
1,492,171,376.17 |
1,091,768,692.86 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or
Services Income |
1,379,321,265.43 |
1,739,552,890.44 |
1,176,086,702.55 |
|
Other
Income |
39,170,818.61 |
42,400,922.83 |
6,063,198.81 |
|
Total
Revenues |
1,418,492,084.04 |
1,781,953,813.27 |
1,182,149,901.36 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
- |
1,592,407,675.37 |
1,030,600,580.69 |
|
Selling Expenses |
- |
48,345,196.23 |
41,499,974.42 |
|
Administrative
Expenses |
- |
79,290,871.26 |
70,745,234.13 |
|
Other Expenses |
1,355,305,401.91 |
- |
- |
|
Total Expenses
|
1,355,305,401.91 |
1,720,043,742.86 |
1,142,845,789.24 |
|
|
|
|
|
|
Profit / [Loss]
before Financial Cost & Income
Tax |
63,186,682.13 |
61,910,070.41 |
39,304,112.12 |
|
Financial Cost |
[44,976,555.41] |
[40,689,688.28] |
[26,657,928.57] |
|
Profit / [Loss]
before Income
Tax |
18,210,126.72 |
21,220,382.13 |
12,646,183.55 |
|
Income Tax |
[4,330,742.46] |
[6,447,510.72] |
[3,811,036.20] |
|
|
|
|
|
|
Net Profit /
[Loss] |
13,879,384.26 |
14,772,871.41 |
8,835,147.35 |
PLATINUM PRO PLASTIC
CO., LTD.
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.69 |
0.62 |
0.62 |
|
QUICK RATIO |
TIMES |
0.30 |
0.42 |
0.30 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
2.03 |
2.35 |
3.18 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.04 |
1.17 |
1.08 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
- |
45.61 |
81.07 |
|
INVENTORY TURNOVER |
TIMES |
- |
8.00 |
4.50 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
59.09 |
84.19 |
68.66 |
|
RECEIVABLES TURNOVER |
TIMES |
6.18 |
4.34 |
5.32 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
- |
45.72 |
58.29 |
|
CASH CONVERSION CYCLE |
DAYS |
59.09 |
84.08 |
91.44 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
- |
91.54 |
87.63 |
|
SELLING & ADMINISTRATION |
% |
- |
7.34 |
9.54 |
|
INTEREST |
% |
3.26 |
2.34 |
2.27 |
|
GROSS PROFIT MARGIN |
% |
102.84 |
10.90 |
12.89 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.58 |
3.56 |
3.34 |
|
NET PROFIT MARGIN |
% |
1.01 |
0.85 |
0.75 |
|
RETURN ON EQUITY |
% |
3.46 |
5.15 |
3.25 |
|
RETURN ON ASSET |
% |
1.05 |
0.99 |
0.81 |
|
EARNING PER SHARE |
BAHT |
4.63 |
7.39 |
4.42 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.70 |
0.81 |
0.75 |
|
DEBT TO EQUITY RATIO |
TIMES |
2.30 |
4.20 |
3.01 |
|
TIME INTEREST EARNED |
TIMES |
1.40 |
1.52 |
1.47 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(20.71) |
47.91 |
|
|
OPERATING PROFIT |
% |
2.06 |
57.52 |
|
|
NET PROFIT |
% |
(6.05) |
67.21 |
|
|
FIXED ASSETS |
% |
(8.31) |
100.23 |
|
|
TOTAL ASSETS |
% |
(11.40) |
36.67 |
|
ANNUAL
GROWTH : RISKY
An
annual sales growth is -20.71%. Turnover
has decreased from THB
PROFITABILITY
: ACCEPTABLE
PROFITABILITY
RATIO
|
Gross Profit Margin |
102.84 |
Impressive |
Industrial Average |
14.04 |
|
Net Profit Margin |
1.01 |
Deteriorated |
Industrial Average |
4.83 |
|
Return on Assets |
1.05 |
Deteriorated |
Industrial Average |
4.83 |
|
Return on Equity |
3.46 |
Acceptable |
Industrial Average |
8.38 |
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 102.84%. 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 1.01%. 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 1.05%.
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 3.46%.
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 |
0.69 |
Risky |
Industrial Average |
1.36 |
|
Quick Ratio |
0.30 |
|
|
|
|
Cash Conversion Cycle |
59.09 |
|
|
|
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 0.69 times
in 2016, increase from 0.62 times, then the company may not be efficiently
using its current assets. 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 0.3 times in 2016, decrease from
0.42 times, then the company has not enough current assets that presumably can
be quickly converted to cash for pay financial obligations.
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 60 days.
Trend
of the average competitors in the same industry for last 5 years
Current
Ratio Uptrend
LEVERAGE
: ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.70 |
Acceptable |
Industrial Average |
0.43 |
|
Debt to Equity Ratio |
2.30 |
Risky |
Industrial Average |
0.75 |
|
Times Interest Earned |
1.40 |
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 1.41 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 0.7 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
: EXCELLENT
ACTIVITY RATIO
|
Fixed Assets Turnover |
2.03 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.04 |
Impressive |
Industrial Average |
1.00 |
|
Inventory Conversion Period |
- |
|
|
|
|
Inventory Turnover |
- |
|
Industrial Average |
7.13 |
|
Receivables Conversion Period |
59.09 |
|
|
|
|
Receivables Turnover |
6.18 |
Impressive |
Industrial Average |
6.11 |
|
Payables Conversion Period |
- |
|
|
|
The
company's Account Receivable Ratio is calculated as 6.18 and
The
company's Total Asset Turnover is calculated as 1.04 times and 1.17 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 65.08 |
|
|
1 |
INR 89.85 |
|
Euro |
1 |
INR 80.16 |
|
THB |
1 |
INR 0.032 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIY |
|
|
|
|
Report Prepared
by : |
KET |
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.