MIRA
INFORM REPORT
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Report Date : |
01.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
JASS INTERNATIONAL |
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Registered Office : |
17, Bipin Ganguly Road, Ground Floor,
Kolkata-700030, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
April
2002 |
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Legal Form : |
A
partnership concern with an unlimited liability of the concern. |
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Line of Business : |
Manufacturer
and Exporter of Different Types of Gate Fittings and Fence Fittings. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a small concern and could not make much headway over the periods. Trade
relations are fair. Partners are experienced, respectable and resourceful
businessmen. Their trade relations are fair. Payments are usually correct and
as per commitments. The
concern can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
17, Bipin Ganguly Road, Ground Floor, Kolkata-700030, West Bengal,
India |
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Tel. No.: |
91-33-25486823/7777/2430 |
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Fax No.: |
91-33-25482920 |
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E-Mail : |
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Website : |
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Area : |
2000
sq. ft. |
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Location : |
Rented
– Semi Commercial |
PARTNERS
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Name : |
Mr.
Ramendra Narayan Mazumder |
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Designation : |
Partner
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Name : |
Mr.
Ahindra Narayan Mazumbder |
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Designation : |
Partner |
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Date of Birth/Age : |
1979 |
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Qualification : |
B E, MBA |
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Experience : |
6 Years |
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Name : |
Mr.
Rathindra Narayan Mazumder |
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Designation : |
Partner
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Name : |
Mr.
Atindra Narayan Mazumder |
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Designation : |
Partner
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Name : |
Mr.
Jibendu Narayan Mazumder |
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Designation : |
Partner
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Name : |
Mrs.
Sreeparna Mazumder |
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Designation : |
Partner
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BUSINESS DETAILS
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Line of Business : |
Manufacturer
and Exporter of Different Types of Gate Fittings and Fence Fittings. |
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Exports to : |
Australia,
New Zealand and USA |
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Terms : |
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Selling : |
Cash,
Credit or L/C terms |
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Purchasing : |
Cash
or Credit terms |
GENERAL
INFORMATION
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Customers : |
Manufacturers
and Wholesales |
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No. of Employees : |
10 |
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Bankers : |
Central Bank of India,
Kolkata Main Branch, 33, Netaji Subhas Road, Kolkata-700001, West Bengal,
India |
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Facilities : |
The
concern donot enjoy facility from its bankers. |
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Banking Relations : |
-- |
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Auditors : |
Saphui & Ghosal Chartered Accountants Kolkata, West Bengal,
India |
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Associates/Subsidiaries : |
v
Mahindra
Constructions, Haldia v
Industrial
Construction v
Mazumder
& Company, Kolkata v
M
Mazumdar & Company, Kolkata |
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Membership : |
v
Engineering
Export Promotion Council, India v
Small
Scale Industries v
West
Bengal Small Exporters Promotion Society |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
0.200 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
0.200 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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1.200 |
1.050 |
Expected
Sales March 2007 : Rs. 1.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Subject is
in the process for ISO-9000 certification.
Subject
manufacturers different types of Ferrous and Non-Ferrous Fittings. Its
production comprises of a wide range of gate fittings and fence fittings.
Trade
terms with
v
RJR
Limited, Iceland
v
Kiwibranz
Limited, New Zealand
Company History :
JASS
International was formed in April, 2002 by enthusiastic entrepreneurs from an
established business family having immense experience for almost 50 years in
the Engineering industry of construction and fabrication. The basic aim of the
parent group is to make a mark in the international market through JASS
international.
Company Objectives:
The
objectives of JASS International have been outlined below:
Ø Become a leader in their market area
Ø Provide quality products and services to their buyers at reasonable prices.
Ø Identify and focus on buyer needs.
Ø Maintain a long term relationship with their buyers.
Ø Be proactive towards industry trends.
Ø Recruit and assign experienced personnel at all levels of management.
Ø Maintain market stability and financial strength.
Mission:
The
company would involve its resources to manufacture customized items according
to its customers’ needs. The fittings manufactured by JASS International would
be recognized by all major companies involved in similar industries. JASS
International would be the leader in Fence and Gate Fittings industries for its
strengths in superior quality products, competitive pricing, excellent customer
service and strict delivery schedule.
Commitment to Quality:
Goal is to
be the No: 1 source for the Fence and Gate Fittings needs. They denote their
passage to success by way of introducing quality products in the market. They
are committed to manufacture and supply the best quality Fence and Gate
Fittings.
They do
undertake research and development work to improve the quality of their
products to meet up with the market needs. They do promise to offer quality
products to their buyers at affordable prices maintaining their firm stand for
quality of the products.
Product
They
manufacture different types of Ferrous and Non-Ferrous Fittings. “Fittings” is
a comprehensive term. It covers a big span of engineering goods dominating
multifarious spheres. Their production comprises of wide range of Gate Fittings
and Fence Fittings. The manufacture of fittings in precise form is a must to
cope with the requirements of Gates and Fences. They also manufacture
customized fittings/items as per buyers’ needs. High expertise, best
workmanship together with quality control arrangement under the supervision on
qualified and experience engineers enables us to give shape to high quality
fittings.
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs.44.93 |
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UK
Pound |
1 |
Rs.85.69 |
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Euro |
1 |
Rs.57.32 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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37 |
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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