MIRA
INFORM REPORT
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Report Date : |
11.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
INGRAM MICRO INDIA PRIVATE LIMITED |
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Registered Office : |
No. 12, SG Business Center, New Hosur Road, Wilson Garden, Bangalore – 560027, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
16.04.1992 |
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Com. Reg. No.: |
08-13061 |
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CIN No.: |
U85110KA1992PTC013061 |
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TAN No.: (Tax Deduction & Collection Account No.) |
BLRI00984E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Importers and Exporters Of Electronic / Microwave Components, Computers, Peripherals, Software Solutions and Engineering Services, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 : |
USD 960000 |
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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 company having satisfactory track records. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
No. 12, SG Business Center, New Hosur Road, Wilson Garden, Bangalore – 560027, Karnataka |
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Tel. No.: |
91-80-26575260 |
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Fax No.: |
91-80-26571735 |
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E-Mail : |
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Website : |
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Head Office : |
Gate 1A, Godrej Industries Highway, Pircjshangar, Vikhroli (East), Mumbai – 400079 |
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Tel. No.: |
91-22-55960360-61/55960246/66 |
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Fax No.: |
91-22-55960106 |
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Office : |
No. 40, Ulsoor Road, Bangalore – 560 042, Karnataka, INDIA |
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Tel. No.: |
91-80-2558 8323 / 3977 / 555 0605/0599/25583253/3977/4707 |
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Fax No.: |
91-80-2558 6872 |
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E-Mail : |
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Website : |
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Area : |
9000 sq.fts. (Rented) |
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Branches : |
Located at: Ahmedabad, Chennai, Indore, Pune, Coimbatore, Kochi, Pondicherry, Bhubaneshwar, Delhi, Lucknow, Vasai, Calcutta, Hyderabad, Mumbai and Singapore (Operates out of 30+ Locations in India) |
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Branch |
Loacated at : v Chadigarh v Dehradun v New Delhi v Jaipur v Lucknow v Jammu v Parwanoo v Ludhiana v Ahmedabad v Baroda v Bhopal v Indore v Surat v Nagpur v Mumbai v Pune v Raipur v
Goa v Bhubaneshwar v
Kolkata v
Jamshedpur v
Ranchi v
Guwahati v
Bangalore v
Chennai v
Cochin v
Coimbatore v
Hubli v
Hyderabad v
Madurai v
Pondicherry v
Trivendrum v
Vishakapatnam |
DIRECTORS
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Name : |
Mr. Laurence Richard O’Laughlin |
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Designation : |
Director |
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Address : |
93, Holland Road, No. 06 04, Hollandia, Singapore – 278537 |
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Date of
Birth/Age : |
29.04.1960 |
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Date of
Appointment : |
14.12.2001 |
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Name : |
Mr. Alain Monie |
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Designation : |
Director |
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Address : |
1, Lady Hill Road, The Ladyhill, Singapore – 258670 |
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Date of
Birth/Age : |
14.01.1951 |
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Date of
Appointment : |
14.12.2004 |
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Name : |
Mr. Satya P. Rajguru |
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Designation : |
Director |
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Address : |
6/11, Sarvapriya, Vihar, New Delhi – 110020 |
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Date of
Birth/Age : |
21.02.1956 |
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Date of
Appointment : |
30.09.2003 |
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Name : |
Mr. Henri Theodorous Koppen |
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Designation : |
Director |
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Name : |
Mr. Saravanan S |
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Designation : |
Company Sectary |
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Address : |
142/16, Kailash Colony, Annanagar, Westext, Chennai – 600101 |
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Date of
Birth/Age : |
12.02.1958 |
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Date of
Appointment : |
01.07.1999 |
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Name: |
Mr. Sean Leroy Fort, |
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Designation : |
Addl Director |
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Name : |
Mr. Shanker Baheria |
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Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Name of Shareholders |
Percentage of
shares |
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Foreign holdings |
87.60 |
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Bodies Corporate |
12.40 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Importers and Exporters of Electronic / Microwave Components, Computers, Peripherals, Software Solutions and Engineering Services, etc. |
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Product |
Computer systems, Monitors, Printers, Hard Disks – 8471 |
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Exports to : |
Malaysia, Singapore, Far East |
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Imports from : |
USA/ Singapore/ Japan/ Taiwan/ UK/ Australia |
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Terms : |
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Selling : |
L/C at sight |
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Purchasing : |
L/C (45 days), Credit (30-45 days) |
PRODUCTION STATUS
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Particulars |
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Installed Capacity |
Actual Production |
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Computer Systems |
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30000 |
22031 |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1000 |
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Bankers : |
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Facilities : |
Secured Loan From a Company – Rs. 3.985 Millions |
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Banking Relations
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Satisfactory |
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Auditors : |
Price Waterhouse Chartered Accountants |
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Address: |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbau-400028, Maharashtra, India |
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Associates/Subsidiaries : |
˜ Spectra Innovations Inc., Sanjose, USA Tel. No. 408-9548474 Fax No. 408-9548399 ˜ Amspec (S) Pte Limited, Singapore Tel. No. 65-2710016 Fax No. 65-2714112 Subsidiaries Ingram Micro (Components Asia) Private Limited, Singapore Ingram Micro (South Asia) Private Limited, Singapore Ingram Micro Malaysia SDN, BHD |
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Holding Company |
Ingram Micro Asia Limited, Singapore |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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309,671 |
Equity Shares |
Rs. 100/- each |
Rs. 30.967 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES
OF FUNDS |
31.12.2005 |
31.12.2004 |
02.01.2004 [9th Month] |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
30.967 |
30.966 |
30.966 |
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2] Share
Application Money |
0.000 |
0.000 |
0.021 |
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3] Reserves &
Surplus |
209.301 |
132.309 |
80.344 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
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240.268 |
163.275 |
111.331 |
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LOAN FUNDS |
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1] Secured Loans |
2.503 |
3.985 |
2.099 |
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2] Unsecured
Loans |
3268.393 |
1774.069 |
842.787 |
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TOTAL BORROWING
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3270.896 |
1778.054 |
844.886 |
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DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL
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3511.164 |
1941.329 |
956.217 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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34.543 |
58.499 |
56.620 |
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Capital work-in-progress
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0.000 |
0.000 |
0.000 |
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INVESTMENT
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0.000 |
0.005 |
0.005 |
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DEFERREX TAX ASSETS
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78.472 |
39.507 |
20.446 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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3651.957
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990.361
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1615.419
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Sundry Debtors
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4835.954
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1176.353
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2015.685
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Cash & Bank Balances
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453.270
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118.902
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211.688
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Other Current Assets
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0.013
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15.687
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16.782
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Loans & Advances
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402.844
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219.506
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392.253
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Total Current Assets
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9344.038
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4251.830
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2520.809
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Less :
CURRENT LIABILITIES & PROVISIONS
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Current Liabilities & Provisions
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5818.472
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1602.241
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2358.651
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Provision
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127.417
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39.422
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49.840
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Total Current Liabilities
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5945.889
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2408.512
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1641.663
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Net Current Assets
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3398.149
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1843.318
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879.146
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MISCELLANEOUS EXPENSES
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0.000 |
0.000 |
0.000 |
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TOTAL
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3511.164 |
1941.329 |
956.217 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.12.2005 |
31.12.2004 |
02.01.2004 [9th Month] |
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Sales Turnover |
39126.451 |
21117.159 |
16056.633 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
39126.451 |
21117.159 |
16056.633 |
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Profit/(Loss) Before Tax
|
148.021 |
88.904 |
59.860 |
Provision for Taxation
|
71.036 |
36.940 |
35.611 |
Profit/(Loss) After Tax
|
76.985 |
51.964 |
24.249 |
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Export Value
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41.060 |
19.746 |
232.682 |
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Import Value
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9866.421 |
6504.423 |
4567.342 |
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Expenditure
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38766.695 |
20926.904 |
15996.773 |
KEY RATIOS
|
PARTICULARS |
|
31.12.2005 |
31.12.2004 |
02.01.2004 [9th Month] |
PAT / Total Income
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(%)
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0.19
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0.24 |
0.24
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Net Profit Margin
(PBT/Sales) |
(%) |
0.37
|
0.42 |
0.42
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
1.57
|
2.06 |
2.06
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Return on Investment (ROI)
(PBT/Networth) |
|
0.61
|
0.54 |
0.54
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Debt Equity Ratio
(Total
Liability/Networth) |
|
38.36
|
25.64 |
25.63
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Current Ratio
(Current
Asset/Current Liability) |
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1.57
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1.76 |
1.76
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LOCAL AGENCY
FURTHER INFORMATION
HISTORY
The company was incorporated on 16th April, 1992 under the name and style of “Spectra Technologies Private Limited” at Bangalore in Karnataka. The name was changed as “Spectra Innovations India Private Limited”, with effect from 24th January, 1995.
Subsequently, it was converted into a deemed public limited company under section 43A(1), with effect from 16th March, 1998. The company’s name was changed as “Electronics Resources India Limited” and again the company's name was changed to “Ingram Micro India Limited” with effect from 29th September, 1999.
Subject was reconverted to Private Limited Liability Company during April 2002.
As a subsidiary of Ingram Micro Inc., the largest global wholesale provider of technology products and supply chain management services, subject brings to India the best of business practices and state-of-the-art information systems in worldwide distribution. With extensive market expertise in providing comprehensive product lines from a single source, it is a leading wholesale provider of computer components, systems, printers, peripherals, networking solutions, supplies and accessories, application software, enterprise storage solutions and support services.
During September/October 2004, Ingram Micro Asia,
acquired Tech Pacific, Sydney, Australia.
Subject is a subsidiary of Ingram Micro Asia Limited, Singapore, which holds 271271 shares.
Group: Tech – Pacific, India
Subject’s manufacturing facility at Pondicherry is certified ISO 9001:2000.
Operation
The company had achieved a sales turnover of Rs. 21.117.15 millions during the period under review as against Rs. 16056.63 million during the corresponding period of previous year. Operating profit for the period ended 31.12.2004 was Rs. 102.103 million as against of Rs. 71.46 million in the previous period ended. After net of tax provision back of Rs. 36.94 million for income tax the company had earned a net profit of Rs. 51.96 Million as a against profit of Rs. 24.24 million for the previous ended.
Human Resources
The employee relation throughout the company remainted cordial during the period under review
Fixed assets
- Leasehold land
- Plant & machinery
- Computers
- Office equipment
- Furniture & fixtures
Form 8 Particular for creation or modification of charges
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Name of the
company |
INGRAM MICRO INDIA PRIVATE LIMITED |
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Presented By |
ICICI Banking Corporation Limited, 3RD
Floor, East Wing, Raheja Tower, 26-27, M G Road, Bangalore – 560001 |
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1) Date and description of instrument creating the change |
24.10.1995 deed of hypothecation, credit facility agreement |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Borrower entire stocks of raw materials, semi finished goods, consumable stores, both present and future belonging to or in the possession or under the control of the borrower whether now lying loose after from time to time during the continuance of these present factories, premises and Godown sited. Borrower or in the course of transit or on high seas or order delivery, and such other movables including book debts outstanding monies |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest –1.5% above ICICI Bank rate subject to a minimum 18.25% at quarterly rests. Inters rate subject to modification from time to time Period of sanction – 3 month Margin – 25%
Repayment – on demand Borrower shall pay old interest, future interest. Agreement in the manner set out in the credit facility agreement and shall duly observe and perform all the terms and conditions of the credit facility agreement |
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5) Name and Address and description of the person entitled to the charge. |
ICICI Banking Corporation
Limited, 3RD Floor, East Wing, Raheja Tower, 26-27, M G Road,
Bangalore – 560001 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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Name of the
company |
SPECTRA TECHNOLOGIES PRIVATE LIMITED |
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Presented By |
ICICI Banking Corporation Limited and Spectra
Technologies Private Limited |
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1) Date and description of instrument creating the change |
24.10.1995 deed of hypothecation, credit facility agreement |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Borrower entire stocks of raw materials, semi finished goods, consumable stores, both present and future belonging to or in the possession or under the control of the borrower whether now lying loose after from time to time during the continuance of these present factories, premises and Godown sited. Borrower or in the course of transit or on high seas or order delivery, and such other movables including book debts outstanding monies |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest –1.5% above ICICI Bank rate subject to a minimum 18.25% at quarterly rests. Inters rate subject to modification from time to time Period of sanction – 3 month Margin – 25%
Repayment – on demand Borrower shall pay old interest, future interest. Agreement in the manner set out in the credit facility agreement and shall duly observe and perform all the terms and conditions of the credit facility agreement |
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5) Name and Address and description of the person entitled to the charge. |
ICICI Banking Corporation
Limited, 3RD Floor, East Wing, Raheja Tower, 26-27, M G Road,
Bangalore – 560001 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
Distributors:
Trend Micro Distributors
606-608. 6th Floor, Balarama Building, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra
Telephone Number – 91-22-26590060
Fax Number – 91-22-26954682
Contact To Mr. Sunil Pillai
E-Mail – sunil.pp@ingrammicro.co.in
Website details Attached:
Corporate Profile:
Ingram
Micro Inc. is the largest global wholesale provider of technology products and
supply chain management services. Ranked as No.76 in the FORTUNE 500 2004
listing, the company operates in 37 countries with approximately 13,600
associates and sales exceeding $25 billion for fiscal year 2004. Ingram Micro’s
global regions provide the distribution of technology products and services,
market development services and supply chain management services to nearly
170,000 technology solution providers and 1,700 manufacturers. Ingram Micro is
focused on maximizing shareowner value and achieving customer satisfaction
through innovation in the information technology (IT) supply chain.
Leading the Transformation of IT
Distribution
With the
dramatic changes driven by technology, companies located throughout the IT
supply chain are required to reevaluate their business models to deliver
maximum value to businesses and consumers. Distributors, technology solution
providers, retailers and IT manufacturers have changed their business models to
add value with innovative services and offerings that drive costs out.
Distributors that remain successful in this industry have large scale and
volume, global coverage, unparalleled standards and accuracy for logistics
services, as well as financial strength to support growth and remain
competitive. Ingram Micro is committed to transforming the value proposition
for technology distribution and is the leading company in this industry.
Innovation is the key differentiator between Ingram Micro and other IT
distribution companies. The company’s management team is focused on leading the
industry through change and has a clear understanding of customer expectations.
Ingram Micro leads the industry in creating new market opportunities with new
and emerging technologies and value-added services. These new opportunities
have changed the way that solution providers offer value to their end-user
customers, making them more competitive in the marketplace. Ingram Micro
continues to demonstrate that it is the most effective partner to reach the global technology market.
Building Long-term Value for
Customers
Ingram
Micro offers more than 280,000 products (as measured by distinct part numbers
assigned by manufacturers and other suppliers) with inventory from 1,700
technology manufacturers and leading PC suppliers to its 170,000 technology
solution provider customers. Ingram Micro is also a service powerhouse
delivering logistics and supply chain management services to increase value and
drive efficiency for companies at all levels of the IT supply chain. For
technology solution providers, Ingram Micro’s specialized divisions offer
customers technical expertise and a well-informed sales support staff trained
to handle the needs of market categories such as enterprise computing,
converging technologies, small-to-mid-size businesses (SMB), and the government
and education sectors. The company has developed services and solutions
designed to address the needs of each technology category and market segment,
with expert services to support customers serving vertical and specialty
markets.
About IM-Logistics
Established in June 2000
as a division of Ingram Micro U.S., IM-Logistics provides end-to-end order
fulfillment, logistics and supply chain solutions to manufacturers, retailers
and e-tailers of technology and consumer electronics products. IM-Logistics
leverages Ingram Micro's 20-year track record in order management and
fulfillment to drive efficiency in the supply chain and ensure companies can
meet customer demand effectively. As the logistics engine behind Ingram Micro,
the division achieves a better than 99 percent accuracy for order deliveries.
IM-Logistics U.S. also leverages Ingram Micro’s warehouse space in the United
States for its industry-leading distribution and reverse logistics network,
which offers one- or two-day ground coverage to 99 percent of the United
States. Finally, a key offering increasing long-term value for customers at all
levels is Ingram Micro’s e-commerce initiatives, which are enabling the IT
supply chain to conduct business more efficiently. The company has developed
e-commerce tools, such as real-time, online order management and tracking, and
community-based Web sites delivering e-Procurement capabilities to technology
solution providers and buyers in the SMB, and the government and education
sectors.
Ingram Micro Inc.
Statistics
Customers:
Ingram
Micro sells to nearly 170,000 technology solution providers in more than 100
countries. The company specializes in three market segments: commercial,
consumer and value-added resellers (VARs). Each segment comprises a variety of
customer groups; examples include:
- Corporate Resellers
- Corporate technology
solution providers
- Direct and Consumer
Marketers - Direct
marketers, computer superstores, mass merchants, Internet storefronts,
consumer electronics and office supply stores
- Value Added
Resellers - System and
Web integrators, application VARs, and government and education VARs
As
reported in Ingram Micro’s 2001 10-K, no single customer represented more than
4 percent of Ingram Micro’s net sales in 2001, 2000, or 1999. The company
conducts business with most of the leading resellers of computer-based
technology products around the world.
Vendors:
More
than 1,700 hardware manufacturers and software publishers utilize Ingram Micro
as their distribution partner. The distributor’s worldwide supplier list
includes almost all of the leading microcomputer hardware manufacturers,
networking equipment manufacturers and software publishers.
- Top vendors include Adobe, Apple ,Autodesk, APC, Cisco,
Computer Associates, Epson, HP, HCL, IBM, Intel, Iomega, Lenovo,
Microsoft, Palm, Quantum, Maxtor, Macromedia, Seagate, Sony
Ericsson, Symantec, Veritas, Western Digital, Xerox, and 3Com.
Product
Offering:
Ingram
Micro and its subsidiaries market and distribute more than 280,000 products -
the largest product offering available in the industry. The company markets
computer hardware, networking equipment, and software products from over 1700
suppliers, including desktop and notebook personal computers, servers and
workstations, personal digital assistants, wireless devices, mass storage
devices, CD-ROM, CD-RW and DVD drives, monitors, printers, scanners, modems,
networking hubs, routers and switches, network interface cards, components,
business applications software, entertainment software, consumer electronics,
and computer supplies and accessories.
Ingram
Micro India Pvt. Limited is a subsidiary of Ingram Micro Inc., USA. Established in 1989,
IMIPL today is the No: 1 IT Distribution company with nationwide presence at
30+ locations.
They
have extensive market expertise in providing a comprehensive product line from
a single source. They enjoy an excellent reputation and market credibility as a
leading wholesale provider of Computer Systems & Components, Peripherals
and Printers, Networking Solutions, Computer Storage Systems, Supplies and
Accessories, Application Software and Support Services. As a subsidiary of
Ingram Micro worldwide they bring to India the best of business practices and
they state-of-the-art information systems in worldwide distribution. They are
committed to be the best wholesale provider of IT products and services in
India providing real value to they customers and principals.
Awards and Achievements:
·
Premerger Tech
Pacific India Wins IBM Partner World Beacon Award
- IT
Association Recognition for Ingram Micro
- Cisco
Recognises Ingram Micro
- Award for
Premerger Tech Pacific, Chennai from IBM
- HP Award for
Premerger Tech Pacific, Chennai
- HP
Recognition for Premerger Tech Pacific, Pune
Asia pacific presence of subject
With 50 offices in 10 Asian
Countries China Taiwan, Thailand, India, Malaysia, Indonesia, Australia, New
Zealand, Hong Kong and Singapore subject works with partners.
Subject has managed to established
strong network of resellers in the Coupled with the breadth of and Impulse
system capability distribute more products countries with greater efficiency
companies attribute their success quality and commitment of them and it is no
exceptional across the region, it has closely associates with a good
youthfulness and experience. Share a common set of values objectives and are
led by management team towards a goal-to-make subject as IT distributor in
Aisan Pacific.
Acer ties
up with Ingram Micro to expand India reach
Bangalore,
October 20, 2003 - Acer
India has strengthened its distribution network in India by entering into a
partnership with Ingram Micro India as its national distributor. Acer India
will use Ingram Micro's extensive reseller network to sell the full range of Acer
commercial and consumer PCs, Notebooks, Servers, LCD Monitors and other
products across India. The tie up is a step in maintaining Acer's rapid growth
in the market and widens the company's reach across the nation.
Acer
has shown tremendous growth across all its product categories and market
segments in 2003, making it an outstanding year for Acer India. This has helped
to propel its business levels to record heights, exceeding the previous year's
achievements within the first half of the current year. In addition, Acer has
also built strong inroads into the retail segment, an initiative that has met
with unequivocal success.
Speaking
on the partnership, Mr. S. Rajendran, General Manager - Sales and Marketing,
Acer India (Pvt) Ltd. said, "Acer started its operations with a strong
focus on institutional buying. However, they success in the retail segment has
encouraged us to expand their reach. They are looking at Ingram to help us in
penetrating Class B and Class C cities, an area where they have historically
enjoyed a very strong reach."
Mr.
Navneet Bindra of Ingram Micro also added, "Acer and Ingram have enjoyed a
very strong relationship across many countries around the world. They have had
a very fruitful association with Acer in many markets and they definitely hope
to replicate the same success story here in India. They are really excited to
distribute Acer's top-of-the-line desktops, notebooks, servers and peripheral
products and look forward to a healthy business relationship."
About Acer India (Private) Limited
Established
in 1976, Acer is among the world's top ten PC vendors, offering a broad range
of PC products from industry-leading high-end PC servers and multimedia desktop
computers to notebooks, computer peripherals and components. Acer is also a
major Internet enabler, providing Internet component technologies, devices and
services. These include end-to-end solutions, mobile phones, plasma displays,
TFT-LCDs, projectors, wireless communications, and e-corp solutions.
Acer
India (Pvt) Ltd. was incorporated as a wholly owned subsidiary of Acer Computer
International Ltd. on 9th September 1999. Acer India has its headquarters in
Bangalore, with branch offices in New Delhi, Mumbai, Chennai, Kolkata and
Hyderabad. Acer India provides sales & marketing support and after-sales
support backed up with infrastructure to bring fresh technology to India.
Acer's mission in India is to translate the Group's goal of making computer
technology easier to use and more affordable - to everyone in this country.
For more information on the company, please log on to: http://www.acer.co.in
About Ingram Micro
Ingram
Micro Inc. is the largest global wholesale provider of technology products and
supply chain management services. The company operates in 37 countries with
sales of more than $25 billion for the fiscal year 2001. Ingram Micro's global
regions provide the distribution of technology products and services, market
development programs, and supply chain management services to nearly 170,000
technology solution providers and 1,700 manufacturers. The company is focused
on maximizing shareowner value and achieving customer satisfaction through
innovation in the information technology supply chain.
About Ingram Micro India Pvt. Ltd:
IMIPL
(formerly known as Electronic Resources India Limited) is a subsidiary of
Ingram Micro Inc., USA. Established in 1989, IMIPL today has nationwide
presence in India at 28 locations with 9 independent business divisions to
provide a wide range of products and services from a single source:
Tally,
Ingram Micro tie up
Their Convergence Bureau
6 August 2003
Bangalore: Tally Solutions Pvt Ltd, a city
company that makes Tally, India's No 1 accounting and inventory management software,
has announced a tie-up with Ingram Micro India Pvt Ltd, a subsidiary of Ingram
Micro Inc, USA, the world's leading wholesale provider of technology products
and supply chain management services.
As per the tie-up, Ingram Micro will be a Tally channel
partner across India for the sales of Tally.
In a joint statement, Tally Solutions managing
director Bharat Goenka and Ingram Micro India CEO Prasad Mamidanna said:
"It is a privilege to be associated with each other. This tie-up is just
the beginning of the type of innovative sales model they are adopting. It
provides tremendous value, which will increase reach and translate into easier
availability of their products for their customers."
Tally Solution's key business area is business solutions
software. It started its operations in 1988. Tally is the largest financial
accounting software in the country — bigger than all other brands put together,
according to a research done by International Data Corporation.
Ingram Micro
India (formerly Electronic Resources India) is a subsidiary of Ingram Micro
Inc, USA. Established in 1989, Ingram today has a nationwide presence in India
at 28 locations with nine independent business divisions to provide a wide
range of products and services from a single source.
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.42.86 |
|
UK Pound |
1 |
Rs.84.40 |
|
Euro |
1 |
Rs.57.53 |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|