|
|
|
MIRA INFORM REPORT
|
Report No. : |
507354 |
|
Report Date : |
11.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
TREEVIEW CO., LTD. |
|
|
|
|
Registered Office : |
106/29 Moo 8, T. Banglamung, A.
Banglamung, Chonburi 20150 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
10.04.2001 |
|
|
|
|
Com. Reg. No.: |
0745544000704 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, Exporter
and Distributor
of Electronics Products. |
|
|
|
|
No. of Employees : |
250 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
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
TREEVIEW CO., LTD.
SUMMARY
BUSINESS ADDRESS : 106/29 MOO
8, T. BANGLAMUNG, A. BANGLAMUNG,
CHONBURI 20150,
THAILAND
TELEPHONE : [66] 38
401-570-2
FAX :
[66] 38
495-083
E-MAIL ADDRESS : info@treeviewthai.com
REGISTRATION ADDRESS : SAME AS
BUSINESS ADDRESS
ESTABLISHED : 2001
REGISTRATION NO. : 0745544000704
TAX ID NO. : 3751028132
CAPITAL REGISTERED : BHT. 610,000,000
CAPITAL PAID-UP : BHT. 583,750,000
SHAREHOLDER’S PROPORTION : THAI :
100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. SOMPOON
CHITPREDAKON, THAI
MANAGING DIRECTOR
NO. OF STAFF : 250
LINES OF BUSINESS : ELECTRONICS
PRODUCTS
MANUFACTURER,
EXPORTER AND DISTRIBUTOR
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 April 10,
2001 as a private
limited company under the registered
name TREEVIEW CO., LTD. by Thai groups. Its business
objective is to provide manufacturing
service of electronics
products to both domestic
and international markets.
It currently employs
approximately 250 staff.
It achieved the standard
ISO 9001 : 2000 certification.
The subject’s registered address
was initially at 227/2 Moo 3,
Sukhumvit Rd., T. Thungsukla, A.
Sriracha, Chonburi 20230.
On October 1,
2012, its registered
address was relocated
to 106/29 Moo
8, T. Banglamung, A. Banglamung, Chonburi
20150, and this
is the subject’s
current operation address.
THE
BOARD OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Sompoon
Chitpredakon |
|
Thai |
60 |
AUTHORIZED
PERSON
The above
director signs on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Sompoon Chitpredakon is
the Managing Director.
He is
Thai nationality with
the age of 60
years old.
Mr. Dilok
Chitpredakon is the
Oversea Sales Manager.
He is
Thai nationality.
BUSINESS
OPERATIONS
The subject
is engaged in manufacturing service
of electronics products
specialized in LCD
and LED television,
LCD and LED
monitor for computer under
customer’s own brands.
PRODUCTION
CAPACITY
50,000 sets
per month
PURCHASE
Electronic parts are
purchased from suppliers
both domestic and
overseas in Taiwan,
India, Germany and
Republic of China.
SALES
95% of
the products is
exported to U.S.A.,
Singapore, India, Republic
of China, Malaysia, Japan, Hong Kong, Taiwan, Laos,
Vietnam, Brazil, Argentina,
Russia, Australia, New Zealand,
Canada, United Arab
Emirates and the
countries in Europe,
and the remaining
5% is sold
locally.
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 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 area
against T/T.
BANKING
Krung Thai Bank
Public Company Limited
EMPLOYMENT
The subject employs
approximately 250 staff.
LOCATION
DETAILS
The premise is owned for
administrative office and factory
at the heading
address. Premise is located
in provincial.
Warehouse is located
at 214/3 Moo 7,
T. Nongkham, A. Sriracha, Chonburi
20230.
Sales office is located
at 22nd Floor,
CTI Tower, 191/40
New Ratchadapisek Road,
Klongtoey, Bangkok 10110.
Tel. [66] 2314-2007,
Fax. [66] 2314-2007.
COMMENT
The subject is
a manufacturer, distributor
and exporter of electronic products
for industrial sector. The
subject’s operating performance
in 2016 was
depressive with a
decrease in sales
income and net
profit. However, it
has increased its
registered capital to
Bht. 610,000,000 (not yet fully
paid), which would
assist on the
continuing financial liquidity
flow and normal
business operation as
well as marketing
respectively.
FINANCIAL
INFORMATION
The capital was registered at
Bht. 10,000,000 divided into 100,000 shares of
Bht. 100 each with
fully paid.
The capital was
increased later as
follows:
Bht. 30,000,000
on May 31,
2004
Bht. 60,000,000
on February 10,
2006
Bht. 80,000,000
on January 11,
2007
Bht. 120,000,000
on August 10,
2010
Bht. 205,000,000
on May 17,
2012
Bht. 355,000,000
on August 27,
2014
Bht. 555,000,000
on October 28,
2015
Bht. 575,000,000
on July 4,
2017
Bht. 610,000,000
on August 8,
2017
The latest registered
capital was increased to Bht. 610 million, divided into
6,100,000 shares of
Bht. 100 each.
THE SHAREHOLDERS
LISTED WERE
[As at August
3, 2017] at
Bht. 583,750,000 of
capitalization.
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr.
Sompoon Chitpredakon Nationality: Thai Address :
48/5 Moo 3,
T. Buengkasam, A. Nongsua, Pathumthani |
6,099,998 |
100.00 |
|
Mr. Kawin Matchino Nationality: Thai Address :
146/6 Moo 4,
T. Bangpra, A. Sriracha, Chonburi |
1 |
- |
|
Mrs.
Sainupa Sutthipho Nationality: Thai Address :
209 Moo 8, Muangbua,
Kasetvisai, Roi-ed |
1 |
- |
Total Shareholders
: 3
Share
Structure
[As at August
3, 2017]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
6,100,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
3 |
6,100,000 |
100.00 |
NAME OF AUDITOR & CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Boonchian Tayjasanant
No. 0915
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 |
49,538,478.98 |
63,928,381.14 |
16,348,133.42 |
|
Trade Accounts
and Other Receivable |
2,509,133,381.04 |
2,249,027,895.69 |
2,204,188,856.36 |
|
Inventories |
502,484,280.00 |
335,328,104.51 |
341,474,348.66 |
|
Other Current
Assets |
44,975,666.34 |
24,718,729.59 |
221,671,078.34 |
|
|
|
|
|
|
Total Current
Assets |
3,106,131,806.36 |
2,673,003,110.93 |
2,783,682,416.78 |
|
Cash at
Bank pledged as a
Collateral |
- |
- |
377,368,688.01 |
|
Other Long-term
Investment |
10,548,499.99 |
10,548,499.99 |
10,548,499.99 |
|
Property, Plant
and Equipment |
651,985,051.76 |
644,518,846.86 |
257,714,116.89 |
|
Other Non-current
Assets |
343,383,207.06 |
467,947,173.67 |
6,497,760.47 |
|
Total Assets |
4,112,048,565.17 |
3,796,017,631.45 |
3,435,811,482.14 |
LIABILITIES
& SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Bank
Overdraft and Short-term
Loan from Financial Institution |
2,414,841,177.58 |
2,455,506,139.68 |
1,300,010,687.98 |
|
Trade
Accounts and Other
Payable |
867,943,753.02 |
646,539,636.74 |
1,731,712,071.31 |
|
Current
Portion of Finance Lease
Contract Liabilities |
- |
- |
1,336,951.40 |
|
Current
Portion of Long-term Loan from
Financial Institution |
25,274,932.18 |
5,240,458.64 |
4,009,400.00 |
|
Accrued
Income Tax |
2,084,820.45 |
1,701,008.06 |
1,033,669.47 |
|
Other
Current Liabilities |
24,401,564.10 |
53,287,403.15 |
2,019,629.80 |
|
|
|
|
|
|
Total Current Liabilities |
3,334,546,247.33 |
3,162,274,646.27 |
3,040,122,409.96 |
|
Long-term
Loan |
116,152,890 |
4,890,995.03 |
8,081,152.25 |
|
Finance
Lease Contract Liabilities
- Net |
- |
- |
2,432,546.78 |
|
Other
Non-current Liabilities |
941,000.00 |
663,500.00 |
297,500.00 |
|
Total Liabilities
|
3,451,640,137.33 |
3,167,829,141.30 |
3,050,933,608.99 |
|
|
|
|
|
|
Shareholders'
Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value Authorized
and issued share
capital |
|
|
|
|
5,550,000
shares in 2016
& 2015 |
555,000,000.00 |
555,000,000.00 |
|
|
3,550,000
shares in 2014 |
|
|
355,000,000.00 |
|
|
|
|
|
|
Capital Paid
|
555,000,000.00 |
555,000,000.00 |
355,000,000.00 |
|
Retained Earning
- Unappropriated |
105,408,427.84 |
73,188,490.15 |
29,877,873.15 |
|
|
|
|
|
|
Total Shareholders' Equity |
660,408,427.84 |
628,188,490.15 |
384,877,873.15 |
|
Total Liabilities
and Shareholders' Equity |
4,112,048,565.17 |
3,796,017,631.45 |
3,435,811,482.14 |
PROFIT
& LOSS ACCOUNT
|
Revenue |
2016 |
2015 |
2014 |
|
|
|
|
|
|
Sales or Services |
4,426,229,619.24 |
7,344,606,590.00 |
4,163,651,861.08 |
|
Other Income |
46,669,304.37 |
29,746,742.50 |
79,064,413.23 |
|
Total Revenues |
4,472,898,923.61 |
7,374,353,332.50 |
4,242,716,274.31 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of
Goods Sold or Services |
4,135,525,427.74 |
6,990,443,284.14 |
4,039,093,859.38 |
|
Selling Expenses |
81,147,111.73 |
45,914,977.87 |
23,575,524.07 |
|
Administrative Expenses |
127,189,640.76 |
191,512,459.98 |
88,580,019.76 |
|
Total Expenses
|
4,343,862,180.23 |
7,227,870,721.99 |
4,151,249,403.21 |
|
|
|
|
|
|
Profit /
[Loss] before Financial Cost &
Income
Tax |
129,036,743.38 |
146,482,610.51 |
91,466,871.10 |
|
Financial Cost
|
[93,291,054.11] |
[99,786,399.30] |
[62,638,606.93] |
|
|
|
|
|
|
Profit /
[Loss] before Income
Tax |
35,745,689.27 |
46,696,211.21 |
28,828,264.17 |
|
Income Tax |
[3,525,751.58] |
[3,385,594.21] |
[1,904,030.97] |
|
Net Profit / [Loss] |
32,219,937.69 |
43,310,617.00 |
26,924,233.20 |
FINANCIAL
ANALYSIS
|
ITEM |
UNIT |
2016 |
2015 |
2014 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
0.93 |
0.85 |
0.92 |
|
QUICK RATIO |
TIMES |
0.77 |
0.73 |
0.73 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS
TURNOVER |
TIMES |
6.79 |
11.40 |
16.16 |
|
TOTAL ASSETS
TURNOVER |
TIMES |
1.08 |
1.93 |
1.21 |
|
INVENTORY
CONVERSION PERIOD |
DAYS |
44.35 |
17.51 |
30.86 |
|
INVENTORY
TURNOVER |
TIMES |
8.23 |
20.85 |
11.83 |
|
RECEIVABLES
CONVERSION PERIOD |
DAYS |
206.91 |
111.77 |
193.23 |
|
RECEIVABLES
TURNOVER |
TIMES |
1.76 |
3.27 |
1.89 |
|
PAYABLES
CONVERSION PERIOD |
DAYS |
76.60 |
33.76 |
156.49 |
|
CASH CONVERSION
CYCLE |
DAYS |
174.66 |
95.52 |
67.60 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS
SOLD |
% |
93.43 |
95.18 |
97.01 |
|
SELLING &
ADMINISTRATION |
% |
4.71 |
3.23 |
2.69 |
|
INTEREST |
% |
2.11 |
1.36 |
1.50 |
|
GROSS PROFIT
MARGIN |
% |
7.62 |
5.23 |
4.89 |
|
NET PROFIT MARGIN
BEFORE EX. ITEM |
% |
2.92 |
1.99 |
2.20 |
|
NET PROFIT MARGIN |
% |
0.73 |
0.59 |
0.65 |
|
RETURN ON EQUITY |
% |
4.88 |
6.89 |
7.00 |
|
RETURN ON ASSET |
% |
0.78 |
1.14 |
0.78 |
|
EARNING PER SHARE |
BAHT |
5.81 |
7.80 |
7.58 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.84 |
0.83 |
0.89 |
|
DEBT TO EQUITY
RATIO |
TIMES |
5.23 |
5.04 |
7.93 |
|
TIME INTEREST
EARNED |
TIMES |
1.38 |
1.47 |
1.46 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(39.73) |
76.40 |
|
|
OPERATING PROFIT |
% |
(11.91) |
60.15 |
|
|
NET PROFIT |
% |
(25.61) |
60.86 |
|
|
FIXED ASSETS |
% |
1.16 |
150.09 |
|
|
TOTAL ASSETS |
% |
8.33 |
10.48 |
|
ANNUAL
GROWTH: ACCEPTABLE
An annual sales
growth is -39.73%. Turnover has decreased from THB
PROFITABILITY : IMPRESSIVE
PROFITABILITY RATIO
|
Gross Profit
Margin |
7.62 |
Impressive |
Industrial Average |
- |
|
Net Profit Margin |
0.73 |
Impressive |
Industrial Average |
0.46 |
|
Return on Assets |
0.78 |
Satisfactory |
Industrial Average |
1.01 |
|
Return on Equity |
4.88 |
Impressive |
Industrial Average |
2.57 |
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 7.62%. 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 0.73% 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 0.78%.
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 4.88%, 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 : RISKY
LIQUIDITY RATIO
|
Current Ratio |
0.93 |
Risky |
Industrial Average |
1.30 |
|
Quick Ratio |
0.77 |
|
|
|
|
Cash Conversion
Cycle |
174.66 |
|
|
|
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 0.93 times in 2016,
increase from 0.85 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 0.77 times in 2016, increase from 0.73
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 175 days.
Trend of the average competitors in the same
industry for last 5 years
Current Ratio Uptrend
LEVERAGE : ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.84 |
Acceptable |
Industrial Average |
0.60 |
|
Debt to Equity
Ratio |
5.23 |
Risky |
Industrial Average |
1.51 |
|
Times Interest
Earned |
1.38 |
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
1.39 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 0.84 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 |
6.79 |
Impressive |
Industrial Average |
- |
|
Total Assets
Turnover |
1.08 |
Acceptable |
Industrial Average |
2.20 |
|
Inventory
Conversion Period |
44.35 |
|
|
|
|
Inventory
Turnover |
8.23 |
Impressive |
Industrial Average |
7.96 |
|
Receivables
Conversion Period |
206.91 |
|
|
|
|
Receivables
Turnover |
1.76 |
Acceptable |
Industrial Average |
5.11 |
|
Payables Conversion
Period |
76.60 |
|
|
|
The company's
Account Receivable Ratio is calculated as 1.76 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 18 days at the end of 2015 to 44 days at the end of 2016. This
represents a negative trend. And Inventory turnover has decreased from 20.85
times in year 2015 to 8.23 times in year 2016.
The company's Total
Asset Turnover is calculated as 1.08 times and 1.93 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 Uptrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.38 |
|
|
1 |
INR 91.39 |
|
Euro |
1 |
INR 79.89 |
|
Thai Baht |
1 |
INR 2.10 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
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.