|
|
|
MIRA INFORM REPORT
|
Report No. : |
499645 |
|
Report Date : |
27.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SUMITOMO
CORPORATION THAILAND LTD. |
|
|
|
|
Registered Office : |
20th, 21st, 22nd
Floor, Unit 1, M. Thai Tower, All Seasons Place, 87 Wireless Road,
Lumpini, Pathumwan, Bangkok 10330 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.03.2017 |
|
|
|
|
Date of Incorporation : |
27.07.1960 |
|
|
|
|
Com. Reg. No.: |
0105503001019 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
The subject is
engaged in international trading
business in order to
import, distribute and
export, as well
as commission agent
and services wide
range of products |
|
|
|
|
No. of Employees : |
162 |
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 |
|
Status : |
Excellent |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
SUMITOMO
CORPORATION THAILAND LTD.
SUMMARY
BUSINESS ADDRESS : 20TH , 21ST, 22ND FLOOR,
UNIT 1, M. THAI
TOWER, ALL SEASONS PLACE, 87 WIRELESS ROAD,
LUMPINI, PATHUMWAN, BANGKOK 10330, THAILAND
TELEPHONE : [66] 2654-0002-29
FAX : [66] 2654-0060-2
E-MAIL ADDRESS : info_bkklz@sumitomocorp.com
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 1960
REGISTRATION NO. : 0105503001019
TAX ID NO. : 3101010800
CAPITAL REGISTERED : BHT.
420,000,000
CAPITAL PAID-UP : BHT.
420,000,000
SHAREHOLDER’S PROPORTION : FOREIGN :
100%
FISCAL YEAR CLOSING DATE : MARCH 31
LEGAL STATUS : PRIVATE LIMITED COMPANY
EXECUTIVE : MR.
SHINJI NAKANO, JAPANESE
PRESIDENT
NO. OF STAFF : 162
LINES OF BUSINESS : CONSUMER AND
INDUSTRAIL GOODS
INTERNATIONAL TRADING
COMPANY
|
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 July
27, 1960 as
a private limited
company under the originally registered
name “Sumitomo Shoji Thailand
Company Limited” by Japanese
groups. Its objective
is to be
engaged in international trading of
consumers and industrial
products. On May 19, 1978,
its registered name
was changed to
SUMITOMO CORPORATION THAILAND
LTD. It currently
employs 162 staff.
The subject is
a wholly owned
subsidiary of Sumitomo
Corporation Asia & Oceania Pte.
Ltd., in Singapore, which
is a member
of Sumitomo Corporation
in Japan.
The subject’s registered
address is 20th, 21st 22nd Floor,
Unit 1, M. Thai
Tower, All Seasons
Place, 87 Wireless
Rd., Lumpini, Pathumwan,
Bangkok 10330, and
this is the
subject’s current operation
address.
THE BOARD OF
DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Takeshi Minoguchi |
|
Japanese |
57 |
|
Mr. Shinji Nakano |
|
Japanese |
57 |
|
Mr. Yasushi Wadamori |
|
Japanese |
52 |
|
Mr. Shinobu Nakada |
|
Japanese |
50 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Shinji Nakano is
the President.
He is Japanese nationality with
the age of
57 years old.
Mr. Yasushi Wadamori is
the Vice President.
He is Japanese nationality with
the age of
52 years old.
BUSINESS OPERATIONS
The subject is
engaged in international
trading business in order
to import, distribute
and export, as
well as commission
agent and services
wide range of
products, which divided
into 5 main
divisions as follows:
Metal Division
Steel products department No. 1
Steel products department No. 2
Non-ferrous products and
metals department
Transportation & Construction
System Division
Automotive department
Transportation systems &
infrastructure department
Infrastructure Business Division
Power infrastructure department
Environmental & infrastructure
department
Chemical, Mineral Resource
and Energy Division
Petrochemicals department 1 [organic
chemicals]
Petrochemicals department 2 [plastics/ automotive]
Petrochemicals department 3 [plastics/ OA, HA,
packaging]
Electronic materials department
Inorganics & performance
chemicals department
Life science department
Media, ICT, Lifestyle
Related Goods and
Services Division
Food & materials department
Media, retail and
telecommunication department
PURCHASE
The products are
purchased from suppliers
both domestic and
overseas, mainly in
Japan, Republic of
China, U.S.A., Australia,
India, Singapore, Taiwan,
Indonesia and European
countries.
MAJOR SUPPLIERS
Sumitomo Corporation : Japan
Sumitomo Corporation Asia & Oceania Pte.
Ltd. : Singapore
SALES/SERVICES
The products are sold
and serviced to customers both local
and overseas in
Canada, Australia, Africa and
many countries in
Asia, Europe & Middle East.
SUBSIDIARY AND AFFILIATED
COMPANIES
Sumi-Thai International Ltd.
Business Type :
Trading company
Investment : -
Summit Sunlight Energy
Co., Ltd.
Business Type :
Holding company
Investment : The
subject holds 75% of
company’s shares.
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 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
Company Limited
Bank of Ayudhya
Public Company Limited
Sumitomo Mitsui Banking
Corporation Ltd. [Bangkok Branch]
Bank of Tokyo
Mitsubishi UFJ Ltd.
[Bangkok Branch]
EMPLOYMENT
The subject currently
employs approximately 162 staff.
LOCATION DETAILS
The premise is
rented for administrative office
at the heading
address. Premise is
located in a prime
commercial area.
COMMENT
The subject was
formed in 1960 as an
international trading consumer
goods and industrial
materials. The products are
for industrial users.
Sales were strong
in the past
years, while industrial
sector had grown
viable.
Despite slowdown of
economy, slow recovery and
less expansion of various
industries in the past
year, the subject’s business remains
strong with sustainable
profit.
FINANCIAL INFORMATION
The capital was
registered at Bht.
750,000 divided into 750
shares of Bht.
1,000 each with
fully paid.
The capital was
increased later as
follows:
Bht. 1,500,000
on November
21, 1965
Bht. 21,000,000
on October
19, 1976
Bht. 220,000,000
on May
26, 1995
Bht. 420,000,000
on September
9, 2005
The latest registered
capital was increased
to Bht. 420 million,
divided into 420,000
shares of Bht. 1,000
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at July 20,
2017]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Sumitomo Corporation Asia & Oceania Pte. Ltd. Nationality: Singaporean Address : 60
Anson Rd., #05-01 Mapletree Anson,
Singapore
079914 |
419,998 |
100.00 |
|
Mr. Shinji Nakano Nationality: Japanese Address : 87
Wireless Rd., Lumpini,
Pathumwan, Bangkok |
1 |
- |
|
Mr. Yasushi Wadamori Nationality: Japanese Address : 87
Wireless Rd., Lumpini,
Pathumwan, Bangkok |
1 |
- |
Total Shareholders : 3
Share Structure [as
at July 20,
2017]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
- |
- |
- |
|
Foreign |
3 |
420,000 |
100.00 |
|
Total |
3 |
420,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Bunyarit Thanomcharoen No. 7900
BALANCE SHEET [BAHT]
The latest financial figures published
as at March
31, 2017, 2016
and 2015 were:
ASSETS
|
Current Assets |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Cash and Cash Equivalents |
381,934,572 |
255,252,640 |
48,360,592 |
|
Trade Accounts and
Other Receivable |
4,880,597,258 |
4,184,549,974 |
3,774,293,306 |
|
Inventories |
432,545,547 |
- |
- |
|
Other Current Assets
|
966,341,473 |
945,318,741 |
1,164,300,453 |
|
|
|
|
|
|
Total Current Assets
|
6,661,418,850 |
5,385,121,355 |
4,986,954,351 |
|
|
|
|
|
|
Investment in Associated |
422,525,213 |
422,525,213 |
414,282,213 |
|
Investment in Subsidiaries |
1,151,455,444 |
1,151,455,444 |
1,151,455,444 |
|
Other Long-term Investment |
209,653,558 |
216,428,798 |
206,530,353 |
|
Property, Plant and Equipment |
20,382,799 |
16,450,225 |
18,297,672 |
|
Intangible Assets |
5,106,066 |
4,673,328 |
4,474,533 |
|
Deferred Income Tax Assets |
8,277,772 |
9,901,504 |
5,436,501 |
|
Other Non-current Assets |
6,860,420 |
6,867,306 |
1,875,537 |
|
Total Assets |
8,485,680,122 |
7,213,423,173 |
6,789,306,604 |
LIABILITIES & SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Trade Accounts and Other
Payable |
3,975,331,656 |
3,320,716,494 |
2,821,434,002 |
|
Short-term Loan |
711,003,932 |
580,634,201 |
1,076,100,000 |
|
Accrued Income Tax |
42,626,326 |
29,102,266 |
36,502,967 |
|
|
|
|
|
|
Total Current Liabilities |
4,728,961,914 |
3,930,452,961 |
3,934,036,969 |
|
Provision for Employee Benefits
|
100,910,809 |
97,473,198 |
36,828,605 |
|
Total Liabilities |
4,829,872,723 |
4,027,926,159 |
3,970,865,574 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 1,000
par value authorized, and issued share capital
420,000 shares |
420,000,000 |
420,000,000 |
420,000,000 |
|
|
|
|
|
|
Capital Paid |
420,000,000 |
420,000,000 |
420,000,000 |
|
Retained Earnings : Appropriated for statutory
reserve |
25,606,774 |
25,606,774 |
25,606,774 |
|
Unappropriated |
3,210,200,625 |
2,739,890,240 |
2,372,834,256 |
|
Total Shareholders' Equity |
3,655,807,399 |
3,185,497,014 |
2,818,441,030 |
|
Total Liabilities and
Shareholders' Equity |
8,485,680,122 |
7,213,423,173 |
6,789,306,604 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Sales or Services Income |
23,015,190,129 |
21,322,473,703 |
20,609,260,143 |
|
Interest Income |
10,027,713 |
1,275,892 |
61,761 |
|
Other Income |
90,949,432 |
37,735,579 |
111,632,406 |
|
Total Revenues |
23,116,167,274 |
21,361,485,174 |
20,720,954,310 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services
|
21,857,119,005 |
20,269,920,936 |
19,727,825,577 |
|
Selling Expenses |
429,389,164 |
451,240,722 |
485,981,584 |
|
Administrative Expenses |
270,806,851 |
205,309,761 |
110,376,410 |
|
Other Expenses |
6,528,767 |
10,663,927 |
3,837,705 |
|
Total Expenses |
22,563,843,787 |
20,937,135,346 |
20,328,021,276 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income
Tax |
552,323,487 |
424,349,828 |
392,933,034 |
|
Financial Cost |
[13,092,244] |
[13,535,976] |
[25,495,579] |
|
Profit / [Loss] before Income
Tax |
539,231,243 |
410,813,852 |
367,437,455 |
|
Income Tax |
[68,920,858] |
[43,757,868] |
[63,917,158] |
|
|
|
|
|
|
Net Profit / [Loss] |
470,310,385 |
367,055,984 |
303,520,297 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2017 |
2016 |
2015 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.41 |
1.37 |
1.27 |
|
QUICK RATIO |
TIMES |
1.11 |
1.13 |
0.97 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
1,129.15 |
1,296.18 |
1,126.33 |
|
TOTAL ASSETS TURNOVER |
TIMES |
2.71 |
2.96 |
3.04 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
7.22 |
- |
- |
|
INVENTORY TURNOVER |
TIMES |
50.53 |
- |
- |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
77.40 |
71.63 |
66.84 |
|
RECEIVABLES TURNOVER |
TIMES |
4.72 |
5.10 |
5.46 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
66.39 |
59.80 |
52.20 |
|
CASH CONVERSION CYCLE |
DAYS |
18.24 |
11.84 |
14.64 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
94.97 |
95.06 |
95.72 |
|
SELLING & ADMINISTRATION |
% |
3.04 |
3.08 |
2.89 |
|
INTEREST |
% |
0.06 |
0.06 |
0.12 |
|
GROSS PROFIT MARGIN |
% |
5.47 |
5.12 |
4.82 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.40 |
1.99 |
1.91 |
|
NET PROFIT MARGIN |
% |
2.04 |
1.72 |
1.47 |
|
RETURN ON EQUITY |
% |
12.86 |
11.52 |
10.77 |
|
RETURN ON ASSET |
% |
5.54 |
5.09 |
4.47 |
|
EARNING PER SHARE |
BAHT |
1,119.79 |
873.94 |
722.67 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.57 |
0.56 |
0.58 |
|
DEBT TO EQUITY RATIO |
TIMES |
1.32 |
1.26 |
1.41 |
|
TIME INTEREST EARNED |
TIMES |
42.19 |
31.35 |
15.41 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
7.94 |
3.46 |
|
|
OPERATING PROFIT |
% |
30.16 |
8.00 |
|
|
NET PROFIT |
% |
28.13 |
20.93 |
|
|
FIXED ASSETS |
% |
23.91 |
(10.10) |
|
|
TOTAL ASSETS |
% |
17.64 |
6.25 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 7.94%. Turnover has increased from THB
21,322,473,703.00 in 2016 to THB 23,015,190,129.00 in 2017. While net profit
has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
5.47 |
Impressive |
Industrial Average |
1.48 |
|
Net Profit Margin |
2.04 |
Satisfactory |
Industrial Average |
2.15 |
|
Return on Assets |
5.54 |
Acceptable |
Industrial Average |
11.46 |
|
Return on Equity |
12.86 |
Acceptable |
Industrial Average |
32.34 |
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 5.47%. 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 2.04%.
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 5.54%.
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 12.86%.
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 |
1.41 |
Impressive |
Industrial Average |
1.38 |
|
Quick Ratio |
1.11 |
|
|
|
|
Cash Conversion Cycle |
18.24 |
|
|
|
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 1.41 times in 2017, increase from 1.37 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 1.11 times in 2017,
decrease from 1.13 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 19 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
IMPRESSIVE
LEVERAGE RATIO
|
Debt Ratio |
0.57 |
Impressive |
Industrial Average |
0.64 |
|
Debt to Equity Ratio |
1.32 |
Acceptable |
Industrial Average |
1.81 |
|
Times Interest Earned |
42.19 |
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 42.19 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 0.57 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 :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
1,129.15 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
2.71 |
Satisfactory |
Industrial Average |
5.32 |
|
Inventory Conversion Period |
7.22 |
|
|
|
|
Inventory Turnover |
50.53 |
Impressive |
Industrial Average |
30.77 |
|
Receivables Conversion Period |
77.40 |
|
|
|
|
Receivables Turnover |
4.72 |
Satisfactory |
Industrial Average |
8.38 |
|
Payables Conversion Period |
66.39 |
|
|
|
The company's Account Receivable Ratio is calculated as 4.72 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 0 days at the end
of 2016 to 7 days at the end of 2017. This represents a negative trend. And
Inventory turnover has increased from 0 times in year 2016 to 50.53 times in
year 2017.
The company's Total Asset Turnover is calculated as 2.71 times and 2.96
times in 2017 and 2016 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 |
INR 64.90 |
|
|
1 |
INR 91.87 |
|
Euro |
1 |
INR 80.25 |
|
Thai Baht |
1 |
INR 2.08 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.