MIRA INFORM REPORT

 

 

Report No. :

507362

Report Date :

29.05.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

N9  SILVER  HOUSE

 

 

Registered Office :

Room  2103,  Op  Garden  Building, 46  Soi  Charoenkrung  36,  Charioenkrung  Road,  Bangrak, Bangkok  10500, 

 

 

Country :

Thailand

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Ordinary  Shop

 

 

Line of Business :

Subject is engaged in distributing and exporting various kinds of silver jewelry such as rings, earrings, necklaces, bracelets, pins, silver belts

 

 

No. of Employees :

1

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

 

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

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 and address

           

N9  SILVER  HOUSE

 

 

SUMMARY

 

BUSINESS  ADDRESS                          :           ROOM  2103,  OP  GARDEN  BUILDING,

                                                                        46  SOI  CHAROENKRUNG  36, 

CHARIOENKRUNG  ROAD,  BANGRAK,

BANGKOK  10500,  THAILAND

TELEPHONE                                        :           [66]   2630-9695,  090  979-2956

FAX                                                      :           [66]   2630-9695

E-MAIL  ADDRESS                               :           n9silverhouse@hotmail.com

REGISTRATION  ADDRESS                  :           SAME  AS  BUSINESS  ADDRESS

 

ESTABLISHED                                    :           -

REGISTRATION  NO.                           :           -

TAX  ID  NO.                                         :           -

CAPITAL REGISTERED                        :           -

CAPITAL PAID-UP                                :           -  

SHAREHOLDER’S  PROPORTION        :           -

FISCAL YEAR CLOSING DATE             :           -            

LEGAL  STATUS                                  :           ORDINARY  SHOP

EXECUTIVE                                         :           MS.  NATSINEE  NANCHATUPHAT,  THAI

                                                                        OWNER

 

NO.  OF  STAFF                                   :           1

LINES  OF  BUSINESS                         :           SILVER  JEWELRY                                                                                                                                           DISTRIBUTOR  AND  EXPORTER

                                                                         

                                                                         

CORPORATE PROFILE

 

OPERATING  TREND                            :           STABLE                       

PRESENT  SITUATION                         :           OPERATING  NORMALLY                     

REPUTATION                                       :           FAIR  WITH  NORMAL  BUSINESS  ENGAGEMENT

MANAGEMENT  STANDARD                 :           -                      

 

 

HISTORY

 

The  subject  was  formed  as  an  ordinary  shop  under  the  name  N9  SILVER  HOUSE  by Ms. Natsinee  Nanchatuphat,  the  Thai  owner,  with  the  business  objective  to  distribute  silver  jewelry  to  both  domestic  and  international  markets.  It  currently  employs  1  staff.  

 

The  shop  is  located  at  Room  2103,  OP  Garden  Building,  46  Soi  Charoenkrung  36,  Charoenkrung Road, Bangrak,  Bangkok  10500.

 

 

MANAGEMENT

 

Ms. Natsinee  Nanchatuphat  is  the  Owner.

She  is  Thai  nationality.  

 

 

BUSINESS OPERATIONS

 

The  subject  is  engaged  in  distributing  and  exporting  various  kinds  of  silver  jewelry  such  as  rings,  earrings,  necklaces,  bracelets,  pins,  silver  belts,  through  the  shop  name  “N9  SILVER  HOUSE”. 

 

PURCHASE

100%  of  the  products  is  purchased  from  local  suppliers.

 

SALES

The   products  are  sold  by  wholesale  and  retail  to  local   customers.

 

EXPORT

The  products  are  also  exported  to  Republic  of  China  and  the  countries  in  Europe.

 

 

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  credit  term  of  30  days.

Local  bills  are  paid  by  cash  or  on  the  credits  term  of  30-60  days.

Exports  are  against  T/T.

 

 

BANKING

 

Bangkok  Bank  Public  Company  Limited

 

 

EMPLOYMENT

 

The  subject  employs  1  staff. 

 

 

LOCATION DETAILS

 

The  premise  is  rented  for  administrative  office  and  shop  at  the  heading  address.  Premise  is  located  in a  prime  commercial  area.

 

 

Note

 

Due  to  the  subject  is  an  ordinary  shop,  there  is  no  financial  statement  available.  

 

 

COMMENT

 

The  subject  is  an  ordinary  shop  selling  silver  jewelry  products.    It   is  likely  a  small  business.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 67.44

UK Pound

1

INR 89.89

Euro

1

INR 79.00

Thai Baht

1

INR 2.11

 

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.