Kendo NumericTextbox not showing correct decimal value

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I'm defining a Kendo numeric textbox in my MVC 4 project as indicated below

 @(Html.Kendo().NumericTextBoxFor(m => m.Rate)
                                     .Name("Rate")
                                     .Decimals(2)
                                     .Min(0)
                                     .Max(99999)
                                  )

The value as received from the model is 100, but is displayed as 10,000.00 by the Kendo NumericTextbox. When I save this model back to the database it is saved as 100. So it looks like it is only the display that is the problem here.

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Vladimir On BEST ANSWER

Try add culture js scripts on your page. Details are here.