c.p. merchandising company limited
TRANSCRIPT
D&B Report
Delivery Date: May 27, 2021
Subscriber No: 410000050
Ticket Key: 202105265007640106
Reference: 20210526_KITA
C.P. MERCHANDISING COMPANY LIMITEDACTIVE BUSINESS
Address: C.P. Tower 313 Silom Road, Silom, BANG RAK, 10500 Bangkok Thailand
Telephone(s): (+66) 2 7668000
Facsimile(s): (+66) 2 6382139
D-U-N-S Number: 66-073-5155
O�cial Name C.P. MERCHANDISING COMPANY LIMITED
IDENTIFICATION & SUMMARY
D-U-N-S Number:
66-073-5155
Telephone(s):
(+66) 2 7668000
Registration No.:
0105532018919
Website:
www.cpf.co.th
Facsimile(s):
(+66) 2 6382139
IDENTIFICATION
Type of Business:
Private limited co
Control:
1989
SIC:
5142-0200
5142-0205
5144-0000
History:
Clear
Paid-up Capital:
THB44,549,999,996.00
Employees:
100 Estimated (Total)
Start:
1989
Line of Business:
Wholesales frozen �sh, meat, and
poultry
Exports:
Yes
Principal:
Mr Arnat Julintorn
Executive Vice President
SUMMARY
CURRENCY
All monetary amounts quoted in this report are shown in Thai Baht (THB), unless otherwise stated.
Address:
C.P. Tower
313 Silom Road
Silom
BANG RAK
10500,Bangkok,Thailand
RISK EVALUATION
Risk Indicator 3
D&B Rating 5A3
Former Rating 5A3
FINANCIAL SUMMARY
Unit of Size Thousands
FYE Dec 31, 2019
Sales / Income 33,825,777
Net Worth 10,277,862
Total Asset 77,886,326
Total Liabilities 67,606,602
Net Pro�t after Tax 6,130,426
Current Ratio 0.06
Quick Ratio 0.06
Pro�t Margin / Returnon Sales
18.12%
Return on Assets 7.87%
Total Debt to NetWorth
657.79%
D&B Notice on Coronavirus ImpactThe World Health Organization declared the novel coronavirus (COVID-19) a global emergency on 30 January
2020. As the human cost escalates, the economic cost is becoming ever more evident, and ever more
signi�cant. As individual businesses and various levels of government take steps to prevent the virus
spreading by curtailing travel and movement of people, many companies are already seeing an impact on
their business. When conducting investigation research, D&B seeks to understand and report on potential
business impacts to the subject business, especially around employees and operations. We also attempt to
gauge the general maturity of the risk management policies and procedures of the subject business. Findings
from our business research are interleaved with the product you are receiving, with any speci�c �ndings
noted in the Current Investigation section below.
For further information, please visit our website (https://www.dnb.com/perspectives/coronavirus-
info.html)
RISK ASSESSMENT
Risk Indicator
Low Risk (1) High Risk (4)
3 Risk Level of the Company is : FAIR
D&B Rating
Financial Strength
5A
Based on net worth
Risk Indicator
3
Fair (Slightly greater than
average Risk - Monitor
closely)
Former Rating
Financial Strength
5A
Based on net worth
Risk Indicator
3
Fair (Slightly greater than
average Risk - Monitor
closely)
The Dun & Bradstreet Rating of 5A3 indicates:
A Financial Strength of Thailand Baht 1,264,000,000 and greater (Based on net worth) and a Risk Indicator which
is Fair (Slightly greater than average Risk - Monitor closely).
TRADE PAYMENTS
TRADE PAYMENT SUMMARY
Note: Above Trade Payment Experiences Summary is derived by analysis of trade payment experiences details
within 24 month
ValueBands (THB)
No. of Exp
Total Value
Within Terms
1-30 Days
31-60 Days
61-90 Days
91+ Days
>10,000,000
0 0 0% 0% 0% 0% 0%
1,000,001 -10,000,000
0 0 0% 0% 0% 0% 0%
100,001 -1,000,000
0 0 0% 0% 0% 0% 0%
10,001 -100,000
0 0 0% 0% 0% 0% 0%
1,001 -10,000
1 10,000 100% 0% 0% 0% 0%
<1,000 0 0 0% 0% 0% 0% 0%
TOTAL 1 10,000 100% 0% 0% 0% 0%
TRADE PAYMENT EXPERIENCES
Any amounts hereafter are in local currency unless otherwise stated. Amounts may be rounded to nearest �gure in
prescribed ranges.
Payment experiences re�ect how bills are met in relation to the terms granted. In some instances, payment beyond
terms can be the result of disputes over merchandise, lost invoices, etc.
Date Paying Record
High Credit
Now Owes
Past Due
Term Last Sale
2020-07-10 PROMPT 10,000 10,000 0 7 2020-07-09
PUBLIC RECORD INFORMATION
LITIGATION
There is no legal suit �led against the company or any of its directors.
BANKS
Bank Name: BANGKOK BANK PUBLIC COMPANY LIMITED
Address: Thailand
Bank Name: CITIBANK, N.A.
Address: Thailand
Information in this report may not represent the full extent of subject's bank relationships.
CURRENT INVESTIGATION
INVESTIGATION INFORMATION
On May 27, 2021, Ms Arin -, O�cer Administration, con�rmed all information in this report.
HISTORY
C.P. MERCHANDISING COMPANY LIMITED started its operations in 1989 and was incorporated on Mar 01, 1989 as a
Private limited co.
It was registered with the Ministry of Commerce (MOC) under the registration number of 0105532018919, Bangkok,
Thailand.
It wholesales frozen �sh, meat, and poultry. An establishment of about 32 year(s), it has been in this line of business
since the commencement of its business operations. Mr Arnat Julintorn, Executive Vice President, currently heads
the company.
REASON FOR CHANGES IN LEGAL STRUCTURE
Date: Jan 01, 2006
Change: Reconstitution under local laws
Previous Registration #: 1887/2532
Registration # changed to: PRESENT NO.
CHANGES IN LEGAL NAME
Previous Name: OCEAN SEA FOOD PRODUCT COMPANY LIMITED
Change to: Present Name
Date of Change: Apr 07, 1994
CAPITAL
Authorized Capital: THB44,550,000,000.00
Issued Capital: THB44,550,000,000.00
Paid-up Capital: THB44,549,999,996.00
Ordinary Shares: THB44,550,000,000.00 at par value 10.00
SHAREHOLDERS AND SHAREHOLDINGS
The following details represent the Full Shareholders List.
ORDINARY SHARES
Total of Shareholders: 3
Shareholder as at: Dec 23, 2020
Shareholding at: THB44,549,999,996
This information provided by: search at local registry o�ce
CHANGES IN CAPITAL
The following changes were con�rmed by the local registry o�ce.
Date of Change: Apr 07, 1994
Capital Type: Authorized Capital
Nature of Change: increased
From: THB50,000,000.00
To: THB850,000,000.00
Date of Change: Mar 17, 1995
Capital Type: Authorized Capital
Nature of Change: increased
From: THB850,000,000.00
To: THB1,000,000,000.00
Date of Change: Sep 13, 1995
Capital Type: Authorized Capital
Nature of Change: increased
From: THB1,000,000,000.00
Name Country Shares Held % of Shareholders
CHAROEN POKPHANDFOODS PUBLIC COMPANYLIMITED
Thailand 87.542
CPF (THAILAND) PUBLICCOMPANY LIMITED
Thailand 12.458
Phongthep Chiaravanont Thailand 0.00
To: THB1,850,000,000.00
Date of Change: Oct 10, 2011
Capital Type: Authorized Capital
Nature of Change: increased
From: THB1,850,000,000.00
To: THB9,000,000,000.00
Date of Change: Apr 10, 2020
Capital Type: Authorized Capital
Nature of Change: increased
From: THB9,000,000,000.00
To: THB39,000,000,000.00
Date of Change: Dec 24, 2020
Capital Type: Authorized Capital
Nature of Change: increased
From: THB39,000,000,000.00
To: THB44,550,000,000.00
AUTHORISED SIGNATORIES
Any 1 of the following ( Mr. Adirek Sripratak or Mr. Prasit Boonduangprasert or Mr. Pisit Ohmpornnuwat or Mr.
Arnat Julintorn ) and any 1 of the following ( Mrs. Arunee Watcharananan or Mr. Paisarn Chirakijcharoen ) may sign
on behalf of subject with seal a�xed.
LINKAGE
PARENT
Name: CHAROEN POKPHAND FOODS PUBLIC COMPANY LIMITED
DUNS: 659673438
Location: Thailand
Holds Shares in Subject: 87.542%
AFFILIATES
Total number of A�liates: 3
Name: CP ALL PUBLIC COMPANY LIMITED
DUNS: 659741276
Location: Thailand
Subject holds shares ina�liate:
30.44%
Name: C.P. RETAIL HOLDING COMPANY LIMITED
DUNS: 662953006
Location: Thailand
Subject holds shares ina�liate:
20%
Name: CPF (THAILAND) PUBLIC COMPANY LIMITED
DUNS: 671767994
Location: Thailand
A�liate holds shares inSubject:
12.458%
SUBSIDIARIES
Total number of Subsidiaries:5.
Name: CPF FOOD AND BEVERAGE COMPANY LIMITED
DUNS: 661929690
Location: Thailand
% of Shares Owned: Subject holds 100% of shares in Subsidiary
Name: CPF TRADING COMPANY LIMITED
DUNS: 660986613
Location: Thailand
% of Shares Owned: Subject holds 100% of shares in Subsidiary
Name: CPF RESTAURANT AND FOOD CHAIN COMPANY LIMITED
DUNS: 661929666
Location: Thailand
% of Shares Owned: Subject holds 100% of shares in Subsidiary
Name: CHESTER'S FOOD COMPANY LIMITED
DUNS: 660437450
Location: Thailand
% of Shares Owned: Subject holds 100% of shares in Subsidiary
Name: CP-MEIJI COMPANY LIMITED
DUNS: 659775829
Location: Thailand
% of Shares Owned: Subject holds 60% of shares in Subsidiary
BRANCHES
Subject maintains 1 branch(es) locally.
The principal branch location(s) are as follows:
Address: 11th Floor, Amornphan 205 Tower 2, 135/29-30, Soi Nathong, RachadapisekRoad, Din Deang, Din Deang, Bangkok 10320 Thailand
Location Type: Operations o�ce
Other Details: Tel: (66) (2) (0329000) Fax: (66) (2) (0329123-25)
PRINCIPALS
CORPORATE DIRECTORS
Name: Mr Arnat Julintorn
Nationality: Thailand
Name: Mr Pisit Ohmpornnuwat
Nationality: Thailand
Name: Mr Adirek Sripratak
Nationality: Thailand
Name: Mrs Arunee Watcharananan
Nationality: Thailand
Name: Mr Paisarn Chirakijcharoen
Nationality: Thailand
Name: Mr Prasit Boonduangprasert
Nationality: Thailand
Name: Mr Sakda Thanitkul
Nationality: Thailand
Name: Mr Sombut Diew-isaret
Nationality: Thailand
Name: Mr Boonsak Jiemprecha
Nationality: Thailand
EXECUTIVES
Name: Mr Arnat Julintorn
Current Title: Executive Vice President
Related Experience Since: 2005
Active in daily operations: Yes
Name: Mr Pisit Ohmpornnuwat
Current Title: Director
Name: Mr Adirek Sripratak
Current Title: Director
Name: Mrs Arunee Watcharananan
Current Title: Director
Name: Mr Paisarn Chirakijcharoen
Current Title: Director
Name: Mr Prasit Boonduangprasert
Current Title: Director
Name: Mr Sakda Thanitkul
Current Title: Director
Name: Mr Sombut Diew-isaret
Current Title: Director
Name: Mr Boonsak Jiemprecha
Current Title: Director
OPERATIONS
LINE OF BUSINESS
PURCHASES
Purchasing Territory
Local: 100%
Purchasing Terms
Local purchase terms: Open Account 30 to 60 days bank transfer
SALES
Sales Territory
International: 100%
Export to Singapore Japan South Korea United Arab Emirates China (People's Republic) Belgium France Germany Italy Switzerland United Kingdom Russia Africa Asia Europe
Selling Terms
Wholesales frozen �sh, meat, and poultry (5142-0200)
Wholesales poultry, frozen: packaged (5142-0205)
Wholesales poultry and poultry products (5144-0000)
Export Terms: bank transfer Letter of Credit
CUSTOMERS
Major Customers
EMPLOYEES
Employee(s) - Current
Total Employees: 100 Estimated
Total includes managers and active directors
Employee(s) - Previous
Year: 2018
Total Employees: 100 Estimated
Total includes managers and active directors
Year: 2013
Total Employees: 120 Estimated
Total includes managers and active directors
Year: 2012
Total Employees: 140 Estimated
Total includes managers and active directors
Year: 2011
Total Employees: 100 Estimated
Total includes managers and active directors
Year: 2010
Total Employees: 150 Estimated
Total includes managers and active directors
Wholesaler(s)
Buying Agent(s)
Manufacturer(s)
Year: 2009
Total Employees: 125
Total includes managers and active directors
Year: 2006
Total Employees: 180 Estimated
Total includes managers and active directors
LOCATION
CURRENT LOCATION
Type of Occupation: Rented
Location: Central business district
Premises used as: Operations o�ce
FINANCIAL INFORMATION
COMPARATIVES
BALANCE SHEET
Particulars FiscalDec 31, 2019
ThousandsTHB
FiscalDec 31, 2018
ThousandsTHB
FiscalDec 31, 2017
ThousandsTHB
Current Assets 4,375,830 6,412,415 6,247,513
Current Liabilities 67,417,190 64,410,461 53,577,722
Working Capital -63,041,360 -57,998,046 -47,330,209
Other Tangible Assets 73,508,634 70,545,649 59,533,090
Non-Current Liabilities 189,412 119,232 110,897
Tangible Net-Worth 10,277,862 12,428,371 12,091,984
Sales / Income 33,825,777 33,951,256 39,680,541
Pro�t (Loss) After Tax 6,130,426 7,085,942 11,780,003
Inventory 229,138 259,242 598,185
Cash & Bank 286,946 298,413 238,610
Accounts Receivable 3,752,292 5,613,501 5,294,234
Fixed Assets 3,394 3,956 17,422
Accounts Payable 10,712,499 2,503,677 1,797,165
Intangibles 1,862 926 1,372
PROFIT & LOSS
Assets FiscalDec 31, 2019
ThousandsTHB
Cash & Bank 286,946
Inventory 229,138
Accounts Receivable 3,752,292
Other Current Assets 107,454
Total Current Assets 4,375,830
Property, Plant & Equipment 3,394
Total Fixed Assets 3,394
Investment in A�liates 72,882,943
Investment Properties 1,504
Total Investments 72,884,447
Deferred Expenditure 616,050
Other Assets 4,743
Total Other Assets 620,793
Intangibles 1,862
Total Intangibles 1,862
TOTAL ASSETS 77,886,326
Liabilities FiscalDec 31, 2019
ThousandsTHB
Accounts Payable 10,712,499
Bank Loans 14,178,135
Creditors & Borrowings 42,300,000
Other Current Liabilities 226,556
Total Current Liabilities 67,417,190
Provident & Pensions 189,412
Total Non-Current Liabilities 189,412
TOTAL LIABILITIES 67,606,602
Capital 9,000,000
Legal Reserves 900,000
Retained Earnings (Loss) 379,724
TOTAL EQUITY 10,279,724
TOTAL LIABILITIES & EQUITY 77,886,326
Particulars FiscalDec 31, 201912 Month(s)Thousands
THB
FiscalDec 31, 201812 Month(s)Thousands
THB
FiscalDec 31, 201712 Month(s)Thousands
THB
Sales / Income 33,825,777 33,951,256 39,680,541
Less: Cost of Sales -23,309,859 -23,415,961 -23,947,766
Gross Pro�t (Loss) 10,515,918 10,535,295 15,732,775
Total General Expenditure -1,085,439 -936,972 -1,128,040
Accounts are audited by Manchupha Singsuksawas, CPA.6112.
RATIOS
Net Operating Pro�t(Loss) Before Taxation
9,430,479 9,598,323 14,604,735
Other Non-OperatingIncome
274,848 379,526 404,965
Depreciation & Interest -328,834 -24,983 -473,525
Total Financial Expenses -3,524,020 -3,224,269 -2,531,573
Plus (Minus) ExtraordinaryItems
0 0 0
Net Pro�t (Loss) BeforeTaxation
5,852,473 6,728,597 12,004,602
Income Tax 277,953 357,345 -224,599
Net Pro�t(Loss) afterTax
6,130,426 7,085,942 11,780,003
Plus (Minus) ExtraordinaryItems
0 0 0
Net Pro�t (Loss) AfterTaxation &Extraordinary Items
6,130,426 7,085,942 11,780,003
Particulars Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
PROFITABILITY RATIOS
Pro�t Margin (%) 18.12 20.87 29.69
Return on Assets (%) 7.87 9.21 17.91
Return on Net Worth (%) 59.65 57.01 97.42
LIQUIDITY RATIOS
Current Ratio 0.06 0.10 0.12
Quick Ratio 0.06 0.09 0.10
EFFICIENCY RATIOS
Collection Period (days) 40 60 48
Asset to Sales (%) 230.26 226.68 165.78
Sales to Inventory (times) 148 131 66
Fixed Assets to Net Worth(%)
0.03 0.03 0.14
INDEBTEDNESS RATIOS
Short Term Debt to NetWorth (%)
655.95 518.25 443.09
Short Term Debt toInventory (%)
29,422.09 24,845.69 8,956.71
Total Debt to Net Worth(%)
657.79 519.21 444.00
NEWS
Economic outlooks diverging in second quarter
It is becoming obvious that the global economy, especially in some of the richer nations, is recovering. Recent
indicators such as retail sales, industrial production, purchasing managers'indices and labour market indicators,
show good signs of revival. Indeed, the International Monetary Fund this month revised upward its forecast for
world economic expansion to 6.0%-the strongest rate in four decades-from 5.5% predicted in March.
It is becoming obvious that the global economy, especially in some of the richer nations, is recovering. Recent
indicators such as retail sales, industrial production, purchasing managers'indices and labour market indicators,
show good signs of revival. Indeed, the International Monetary Fund this month revised upward its forecast for
world economic expansion to 6.0%-the strongest rate in four decades-from 5.5% predicted in March.
As well, a survey by The Economist of 21 rich countries in the �rst nine months of 2020 found their residents had
saved a total of $6 trillion. The signs are especially evident in countries where the highest proportion of people have
been vaccinated. These include Israel, the United Arab Emirates, the United States and the United Kingdom, where
vaccination rates range from 33-58%. In light of the third Covid wave, we believe the Thai economy may have some
downside risk, but not as large as other people fear.
As well, a survey by The Economist of 21 rich countries in the �rst nine months of 2020 found their residents had
saved a total of $6 trillion. The signs are especially evident in countries where the highest proportion of people have
been vaccinated. These include Israel, the United Arab Emirates, the United States and the United Kingdom, where
vaccination rates range from 33-58%. In light of the third Covid wave, we believe the Thai economy may have some
downside risk, but not as large as other people fear.
Second, we believe the spread of the virus is likely to ease in severity after April, helped by control measures and
work-from-home campaigns. Third, although the tourism outlook has deteriorated in the short term, we believe the
loss of tourism revenue will be replaced by better exports resulting from the faster economic growth. Hence, we
have upgraded our forecast for export growth this year from 6.2% to 10%.
Source: Bangkok Post Newspaper, Apr 24, 2021
APPENDICES
CUSTOMER SERVICE
Should you require any further information or have any questions, please contact D&B Thailand Customer Service
Centre at +662 6573999 ext 3100.
Inquiries should always contain the below minimum details:
D&B RATING GLOSSARY
The following ratings are available for businesses in Thailand:
D&B Rating - The D&B® Rating in Thailand consists of 2 parts, the Financial Strength Indicator and the Risk
Indicator. The Financial Strength Indicator is based on either Net Worth of a current balance sheet or Issued Capital.
Risk Indicator is used in conjunction with the Financial Strength Indicator. The Risk Indicator re�ects D&B's opinion
of the risk associated with trading with a speci�c business. The table below contains the values for the D&B Rating in
Thailand.
Financial Strength Indicator
Full Company Name
Full Headquarters Address
Telephone Number
Business Identi�cation Number
Contact Name
Reference
Order Date
EXPLANATION OF PAYDEX
A score of 80 denotes that payments reported to D&B have generally been made within terms. Scores over 80
indicate that payments reported to D&B have been made earlier than terms. The chart below outlines the speci�c 0-
100 score and what it means.
D&B PAYDEX® Payment Habit
100 Anticipate
90 Discount
Net Worth Capital From To
5A 5AA THB 1,264,000,000 And above
4A 4AA THB 252,800,000 THB 1,263,999,999
3A 3AA THB 37,920,000 THB 252,799,999
2A 2AA THB 18,960,000 THB 37,919,999
1A 1AA THB 9,480,000 THB 18,959,999
A AA THB 4,753,000 THB 9,479,999
B BB THB 2,376,000 THB 4,752,999
C CC THB 1,188,000 THB 2,375,999
D DD THB 607,000 THB 1,187,999
E EE THB 303,000 THB 606,999
F FF THB 152,000 THB 302,999
G GG THB 77,000 THB 151,999
H HH 0 THB 76,999
Alternate Ratings Used
NQ Out of Business: Business has ceased to trade
NB New Business: Less than 24 months
O Financial Strength is undisclosed; or Assigned tocompanies that do not request credit in their normalactivities (Bank, Brokerages, Insurance Co.,Associations, Government, etc..)
N Negative Net Worth
FB Foreign Branch
BR Domestic Branch
DS Assigned to records that require investigation before arating can be assigned.
Risk Indicator Condition Credit Risk Interpretation
1 Strong Minimal risk Proceed with transaction -o�er extended terms ifrequired
2 Good Low Risk Proceed with transaction
3 Fair Slightly greater thanaverage risk
Proceed with transactionbut monitor closely
4 Limited Signi�cant level of risk Review each case beforeextending credit andobtain more information.Take suitable assurancesbefore extending credit,guarantees may beneeded
- Undetermined Undetermined Risk Insu�cient information toassign a Rating
80 Prompt
70 15 days beyond terms
60 22 days beyond terms
50 30 days beyond terms
40 60 days beyond terms
30 90 days beyond terms
20 120 days beyond terms
0-19 Over 120 days beyond terms
UN Unavailable
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