MIRA
INFORM REPORT
|
Report Date : |
23rd
May 2006 |
IDENTIFICATION
DETAILS
|
Name : |
ASSOCIATED
TRADERS |
|
|
|
|
Registered Office : |
2/27,
Warehousing Scheme, Kirti Nagar, New Delhi-110015 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1977 |
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|
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|
Legal Form : |
A
Partnership Concern with Limited Liability of the Paryners |
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|
|
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Line of Business : |
Importer
& Distributor of MDF, Hard Board, Panel Products and construction glass |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
17500 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually
correct |
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|
|
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Litigation : |
Clear |
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Comments : |
Subject
is an established importer and trader of MDF, Hardboard, Construction glass
etc. Trade relations are fair. Payments are usually correct and as per
commitments The
concern can be considered normal for business dealings at usual trade terms
and conditions |
LOCATIONS
|
Registered Office/ Head Office : |
2/27,
Warehousing Scheme, Kirti Nagar, New Delhi-110015 |
|
Tel. No.: |
91-11-25438512/25447763/25464962/51420260/25447763 |
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Fax No.: |
91-11-25411651/51420090 |
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E-Mail : |
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Website : |
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|
Area : |
2500
Sq. ft |
|
Location : |
Owned |
|
|
|
|
Showroom: |
B-117,
Mansarovar Garden, New Delhi-110015, India |
|
Tel.
No.: |
91-11-51420822 |
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Mobile
No.: |
91-9868081116 |
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E-Mail
: |
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|
Website: |
PARTNERS
|
Name : |
Mr.
Narinder Ajamani |
|
Designation : |
Partner |
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Mobile No.: |
91-9811022305 |
|
|
|
|
Name : |
Mr. Devinder
Ajamani |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Importer
& Distributor of MDF, Hard Board, Panel Products and construction glass |
|
|
|
|
Products : |
MDF,
Hard Board, Panel Products and construction glass |
|
|
|
|
Brand Names : |
Furnling |
|
|
|
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Importer of: |
à
MDF à
Hard
Board à
HDF
Flooring à
Doorskins à
Glass |
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|
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Imports from : |
Europe,
New Zealand, Thailand, Malaysia, Iran and China |
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Terms : |
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Selling : |
Cash
& Credit (7/15 days) terms |
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|
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Purchasing : |
Letter
& Credit basis |
GENERAL
INFORMATION
|
|
|
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No. of Employees : |
20 |
|
|
|
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Bankers : |
Punjab
& Sind Bank Paharguni, New
Delhi-110055 |
|
|
|
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Facilities : |
Subject
claims to enjoy credit facility from its banker |
|
|
|
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Auditors : |
M K
Arora & Company Chartered
Accountant |
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|
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Sister Concern : |
|
|
Name: |
Harvin
Impex Private Limited |
|
Address: |
2123/3,
Chuna Mandi, Pahar Ganj, New Delhi-110055 |
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Line of Business: |
Importer
& Manufacturer of Furniture (Domestic & Commercial) |
|
|
|
|
Name: |
Narmada
Traders |
|
Line of Business: |
Importers
& Traders of Furniture |
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|
|
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
4.500 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
4.500 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
31.03.2006 |
31.03.2004 |
|
Sales Turnover |
|
55.000 |
45.000 |
|
|
|
|
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LOCAL AGENCY
FURTHER INFORMATION
Harvin Impex Pvt. Ltd., is an import and export organization collaborating with
some of the Prominent Manufacturers of Wood-Based products, Furniture,
Construction Glass, Glass Hardware, Aluminium Composite Panel in Asia &
Europe as Sales and Marketing Agent.
Presently, We are one of the leading
importers and exporters of Furniture, flooring, Construction glass,
hardware, MDF, Hardboard from Europe, New Zealand, Thailand, Malaysia, Iran
and China under the name Furnline.
We have not only focused on economies of scale and
competitive cost structure to establish our global competitiveness, but equally
important has been the ongoing development of down stream value added products,
combined with the enthusiasm, experience and dedication of management and staff
value added range has become a major contributor to the ongoing growth and
success of the enterprise.
Financials:
Sole Proprietory and Partnership concern and exempted from divulging
their Balance Sheet and Profit & Loss A/c figures and hence could not be
available
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.73 |
|
UK
Pound |
1 |
Rs.85.81 |
|
Euro |
1 |
Rs.58.48 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |