MIRA INFORM
REPORT
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Report Date : |
17.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SAIDEC INTERNATIONAL |
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Registered Office : |
B – 414/415, Kanara Business Centre, Kanara Engineering Compound,
Ghatkopar – Andheri Link Road, Ghatkopar
(E),Mumbai – 400 075, Maharashtra |
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Country : |
India |
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Financials (as on) : |
26.03.2007 |
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Date of Incorporation : |
10.05.2005 |
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IEC No.: |
0305010166 Dated 10.05.2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS52059A |
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PAN No.: [Permanent
Account No.] |
AAAPU2065K |
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Legal Form : |
Subject is a Sole Proprietory Concern. |
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Line of Business : |
Outsourcing Consultants for Petroleum, Oil and Gas Drilling Productions,
chemical, Infrastructure, Power, Cement, 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 : |
USD 14700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small traders and outsourcing concern. It has furnished
office. Trade relations are fair. Financial details denied. No payments are available. The concern can be considered for small to
mediocre business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
B – 414/415, Kanara Business Centre, Kanara Engineering Compound,
Ghatkopar – Andheri Link Road,
Ghatkopar (E),Mumbai – 400 075, Maharashtra |
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Tel. No.: |
91-22-25006395 |
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Fax No.: |
91-22-25006394 |
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E-Mail : |
sales@saidecintl.com |
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Website : |
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Area : |
850 Sq. fts. |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Khushroo Homi UdWadia |
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Designation : |
Proprietor |
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Address : |
675, Ami Villa, Ground Floor, Parsi Colony Road, No. 14, Dadar, Mumbai
– 400 014 |
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Date of Birth/Age : |
03.05.1964 (42 Years) |
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Qualification : |
Graduate (Engineer Electrical ) |
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Experience : |
26 Years |
KEY EXECUTIVES
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Name : |
Mr. Ganesh Shinde |
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Designation : |
Assistant Manager |
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Mobile No.: |
91-9869474749 |
BUSINESS DETAILS
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Line of Business : |
Outsourcing Consultants for Petroleum, Oil and Gas Drilling Productions,
chemical, Infrastructure, Power, Cement, etc |
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Products : |
Power Ø Boilers /
Turbins / Generators packages for power generation Ø Bio – Mass based
power plants on Turnkey (Upto 24 MW) Ø Domestic / Industrial
/ Hospital waste based power plants Cement & Allied Industry Ø Equipments,
Machinery & Spares for Cement manufacturing Projects Environment / Air Pollution Control Ø Bag Filters Ø Cartridge
Filters Ø Heat Exchangers Oil & Gas Ø Valves (For Oil
& Gas Pipeline) Ø Survival Craft
(For Ships, Offshore & Onshore Oil / Gas Drilling Platforms.) Ø Pedestal / Deck
Cranes (For Ships, Offshore & Onshore Oil / Gas Drilling Platforms.) Ø Chlorinator
Package (For Ships, Offshore & Onshore Oil / Gas Drilling Platforms.) Ø Fire & Gas
Systems (For Offshore Platforms & Refineries) Marine Ø Dredgers Ø Cargo Vessel Ø Bulk tankers
& Container Vessels Constructions Ø Heavy Machinery
/ Equipments (For Construction & Mining Industry) Ø Construction Equipments
like Cranes, Wheel Loaders, Fork Lifts etc. Chemicals Ø Various
Chemicals / Catalysts (Used in refineries) Ø Other Industrial
Chemicals & Solvents used for various processing industry Ø Drilling
Chemicals (For Oil & Gas Drilling) Electrical Products Ø Single & 3
phase AC Motors Ø DC Motors &
Special Applications Motors Ø Generating Sets Ø Transformers Ø Variable
Frequency Drives Ø Switchboards
(HV, MV & LV) Ø Battery Banks
& Chargers Ø Cable (HV, MV,
& LV) Machine Tools Ø CNC Machines Ø Lather Ø Milling Machines Ø Drilling &
Grinding Machine Ø Boring,
Slotting, Shaping, Shearing & Sawing Machine Ø Press &
Plate roller Machines Telecom Ø Cellular Network
Hardware Ø Hardware for
Switchboards Others Products Ø Minerals Ø Pumps Ø Food Ingredients
(For Food & Beverage Industry) Ø Forgings &
Castings (Steel, DI, Non – Ferrous & Aluminum) Ø Solar Panels for
Heaters / Back-up Power Supply Ø Packing Machine
(For all Industries) |
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Agencies Held : |
Ø RJ Engineering
Systems – USA Houston Ø DG Environmental
– Australia / China Ø Kee Hing Cheung Kee
Co – China Ø Ardor
International Private Limited – Ahemedabad – India Ø Chalco Shandong
International Trading Company – China Ø E – Gateway
India Private Limited – New Delhi - India |
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Exports : |
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Products : |
Raw Materials, Chemicals |
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Countries : |
China, U.A.E |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
China, U.S.A., France |
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Terms : |
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Selling : |
Cash, Credit (30 Days) |
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Purchasing : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
6 (In Office ) |
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Bankers : |
Ø Corporation Bank 1, Raman Smruti, Karani RoadGhatkopar (W),
Branch, Mumbai – 400 086 Ø HSBC Bank
Limited Dr. Choithram Gidwani Road, Chembur, Mumbai
– 400 074 Ø Corporation Bank
India Printing House, 42 Ground Floor,
Ambedkar Marg, Wadala, Mumbai - 400031 |
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Facilities : |
The concern do not enjoy facility from it’s bankers. |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Seema Sriram Associates Chartered Accountant |
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Address : |
318, Big Splash, Sector – 17, Vashi Navi Mumbai – 400 074 |
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Tel No.: |
91-22-67912272 |
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Fax No.: |
91-22-67912272 |
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Email : |
seema@seemasriram.com |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.980 Millions |
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Borrowed : |
Rs.1.697 Millions |
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Total : |
Rs.3.677 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.06.2006 |
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Sales Turnover |
7.098 |
8.633 |
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Net Profit |
N.A. |
2.089 |
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LOCAL AGENCY
FURTHER INFORMATION
Trade Reference :
Ø
Reliance Industries Limited, Sewree (Purchase Department )
Ø
Larsen And Turbo Limited, Pawai, Mumbai (Cement Division)
History :
The Company has recently bagged a power plant job for Patni Projects
Limited for Rs.8500.000 Millions wherein the company has the total turnkey
consultant. The power plant is 2 X 135 MW coming up at Dharmtar, Alibaug
The Company represent RJ Engineering Systems , USA company in India
which is almost 10 year old company in USA, Houston engaged in Engineering
Equipment.
The company also represent kee Hing Cheung Company (China) in India for
Engineering goods, Chemicals etc.
Company Profile :
Saidec International is an organization of
repute formed by technocrats having sound experience in the Engineering
Industry for more than 2 decades and is poised for growth. The headquarters of
Saidec International is located in the commercial city of Mumbai and has a
fully equipped office with latest communication and infrastructure.
Mission :
Commitment to have Satisfied Customer by
providing quality products and timely service.
Saidec International is a reputed sourcing consultant
located in the commercial city of Mumbai, India having fully equipped
infrastructure to meet the sourcing demands of various customers across the
globe.
Saidec International has a major focus to cater to the
growing industry needs in areas of Petroleum, Oil & Gas Drilling/
Production, Chemical, Infrastructure, Power, Conventional &
Non-Conventional Energy, Cement and also other specialized areas of the
industry. The company’s focus has been to provide:
Ø Front-end marketing & Representation of various International
Companies in India.
Ø Sourcing
of various industrial equipments & products for the above mentioned
industries.
Ø Exports of
various chemicals, minerals and industrial equipments.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.15 |
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UK Pound |
1 |
Rs.84.38 |
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Euro |
1 |
Rs.57.22 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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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 |
NO |
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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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48 |
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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