MIRA
INFORM REPORT
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Report Date : |
02.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
CHEMLON
INTERNATIONAL |
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Registered Office : |
215, 2ND
Floor, DLF Galleria, DLF Phase IV, Gurgaon – 122002, (NCR of Delhi) Haryana,
India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Representing
Korean party for Plastic Raw Material like Granules, Powder, Resin etc |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well – established concern having satisfactory track records. The
concern acts on commission basis. Trade relations are fair. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
215, 2nd
Floor, DLF Galleria, DLF Phase IV, Gurgaon – 122002, (NCR of Delhi) Haryana,
India |
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Tel. No.: |
91-124-24107580/2574012/24101552 |
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Mobile No.: |
91-9810007927 |
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Fax No.: |
91-124-24054581 |
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E-Mail : |
chemlongroup@yahoo.com,chemlon2003@yahoo.com, taneja.vineet@gmail.com, |
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Website : |
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Area : |
500
Sq. ft |
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Location : |
Owned |
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Corporate Office : |
Status
: Owned
Area :
900 sq. fts |
SOLE PROPRIETOR
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Name : |
Mr.
Vineet Taneja |
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Designation : |
Proprietor
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Address : |
D-43,
Greenwood City, Gurgaon |
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Date of Birth/Age : |
35
Years |
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Qualification : |
B.E.
(IIT) Chemical, MBA (IIFI New Delhi) |
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Experience : |
12
Years |
KEY EXECUTIVES
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Name
: |
Mr.
Vineet Taneja |
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Designation
: |
Chief
Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Distributors
and importers of poly propylene Resin (topilene, South Korea) |
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Agencies Held : |
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Exports to : |
Turkey,
Bulgaria, Maraco, Pakistan and Bangladesh |
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Terms : |
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Selling : |
L/C,
Cash & Credit (30 days) |
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Purchasing : |
Cash
& Credit (30 days) and Sight |
GENERAL INFORMATION
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Customers : |
Manufacturer,
Wholesalers, Retailers and End Users
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No. of Employees : |
5 |
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Bankers : |
Standard Chartered Bank, Vasant Vihar, New Delhi – 110057 HDFC
Bank, First India Place, Gurgaon, |
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Facilities : |
-- |
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Banking Relations : |
Satisfactory
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Associates/Subsidiaries : |
Chemlon
Enterprises 215, 2ND
Floor, DLF Galleria, DLF Phase IV, Gurgaon – 122009, Haryana Line
of Business – Industrial Fabrik Lining
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
0.250 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
0.250 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
2.000 |
1.800 |
1.500 |
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Profit/Loss for the year |
0.250 |
0.200 |
0.150 |
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Export Value |
2% |
NA |
NA |
Sale is
around 15,000 to 20,000 M.T
LOCAL AGENCY
FURTHER INFORMATION
Export
Direct supply is made from Korea. Only L/C is arranged from Chemlon
International
Trade
References
v
Shaheen,
Pakistan
v
Hyosun,
Korea
As Per
Website Details
Chemlon International, Gurgaon,
Haryana
Traders and Distributors of variety of Polypropylene, Impact Copolymer,
High Isotactic PP, Random Copolymer, Homopolymer Polypropylene Resins, Film
Grade Resins, Butene Random Copolymer and Fiber Grade Resins.
PRODUCTS:
Polypropylene Resin, Random Copolymer, Impact Copolymer, Homopolymer
Polypropylene Resins, Film And Fiber Grade Resins
Chemlon Group comprises of two companies, namely Chemlon International
and Chemlon Enterprises.
Chemlon International importer and indenter of prime quality plastic, recycle
plastic raw material and plastic waste.
Chemlon Enterprises are importer and identer of rubber raw material for tyre,
conveyor belt industry. All types of Rubber and Recycle Rubber, Rubber
Chemicals, Carbon Black, Nylon and Polysters HT Yarns textile Raw
materials for garments industries and raw material for packaging industries.
Profile
Chemlon Group is one of the most prestigious organization that is involved in
the import as well as representation of chemical products, textiles, rubber
materials, recycles plastic, waste and secondary rubber. The organisation
basically deals with Plastic raw materials, Engineering plastic, Yarn, Textile
raw materials and a range of products. Apart from being in the import business
for last 10 years, Chemlon Group represents many trading and manufacturing
companies from Korea, China, Europe, Thailand and USA.Chemlon has always abided
by all principles and ethics related to its business.
|
Chemlon
International |
Chemlon
Enterprises |
|
Plastic Raw
Material Polypropylene
Resins HDPE LDPE PVC Resins EVA ABS Nylon 6 and 66 Polyster Chips HDPE Wax Plastic Additives HDPE Black for Pipe Manufacturing Types of Polypropylene Resins Random, Impact, Homo PP Resin for Bottle Caps PP Resins for
medical syringes PPR for Pipes PP for
Thermoforming Sheet |
Nylon Fabric - Tyre Cord Fabric Conveyor Belt Fabric and Belting Fabric Nylon Industrial H.T.Yarn Belting Fabric Polyster H.T. Yarn, Polyster Spun Yarn Polyster Tyre Cord Fabric P.U. Leather Fabric- for Shoes and Football GEO-Fabric, Awning Fabric Nylon Fishing Net Polyster Cotton Blend Yarn Carbon Black Recycle Plastic Cotton and
Polyster Fabric for Garments BOPP Films
Plastic Waste PBT with Glass
Fiber
SBR TPR PBR Silicon Rubber Polychroprene Rubber for V Belts EPDM Rubber BUTYL Rubber Waster and Recycled Rubber Reclaim Rubber |
Quality & Infrastructure
All the items that they import, undergo strenuous quality checks before they
are sent to their destinations. They never lacked expertise in the fields they
deal in. The zeal and enthusiasm, with which their professionals work have
expanded the horizon of their trade. In fact, all their units of operation are
directed to producing excellent outputs.
Esteemed Clients
Their products have received a great response and recognition everywhere. This
has been made possible because of the huge marketing networks they possess all
over the world. They have always kept in their minds the choices and the tastes
of clients.
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 records 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.44.93 |
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UK
Pound |
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.57.34 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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