MIRA INFORM
REPORT
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Report
Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SOKKIA
INDIA PRIVATE LIMITED |
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Registered
Office : |
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Country
: |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
30.04.1996 |
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Com.
Reg. No.: |
55-78582 |
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CIN
No.: [Company
Identification No.] |
U29199DL1996PTC078582 |
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TAN
No.: (Tax
Deduction & Collection Account No.) |
DELS13142D |
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PAN
No.: (Permanent
Account No.) |
-- |
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TAN
No.: |
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Legal
Form : |
Private Limited Liability Company. |
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Line
of Business : |
Manufacturer,
Exporter and Dealer in Surveying Instruments and Industrial Measurement
Systems. |
RATING & COMMENTS
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MIRA’s
Rating : |
A |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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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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Maximum
Credit Limit : |
USD
210000 |
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Status
: |
Good |
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is a well established company engaged in
manufacturing and exporting Surveying Instruments and Industrial Measurement
Systems. It is a subsidiary of Sokkia Singapore Pte Limited and a part of the
Sokkia Group having its Head Office in The company can be considered normal for business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered
Office : |
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Tel.
No.: |
91-11-23355238/
42492525 |
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E-Mail
: |
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Website
: |
http://www.sokkia.co.jp/english (group company) |
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Location : |
Commercial |
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Corporate
Office : |
C-25, 2nd Floor, Sector 8, Noida-201301, |
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Tel.
No.: |
91-120-2525781/2525454/2552118/2552126/2424154 to 59 /2424499
to 501 |
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Fax
No.: |
91-120-2525769 / 2424158 |
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E-Mail
: |
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Location : |
Industrial |
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Factory
1 : |
C-25, 2nd Floor, Sector 8, Noida-201301, |
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Tel.
No.: |
91-120-2525781/2525454/2552118/2552126/2424154 to 59 /
2424499 to 501 |
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Fax
No.: |
91-120-2525769 / 2424158 |
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E-Mail
: |
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Location : |
Industrial |
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Branches
: |
Kolkata 104/4/9, |
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Tel.
No.: |
91-33-24571964/ 1965 |
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Fax
No.: |
91-33-24571965 |
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E-Mail
: |
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Branches
: |
Chennai Toshni
– Tek International 267, |
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Tel.
No.: |
91-44-26444214/ 4215 |
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Fax
No.: |
91-44-26448847 |
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E-Mail
: |
DIRECTORS
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Name : |
Mr. |
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Designation
: |
Director
and Chairman |
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Address
: |
3-RHU
Cross, # 07-13, Costa RHU, Singapore-437433 |
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Date
of Birth/Age : |
19.01.1968 |
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Date of
Appointment : |
18.07.2001 |
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Date
of Ceasing : |
20.06.2005 |
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Name : |
Mr. Vats Ripudaman,
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Designation
: |
Director |
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Address
: |
28,
Swastik Vihar, |
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Date
of Birth/Age : |
03.05.1957 |
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Date of
Appointment : |
30.04.1996 |
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Name : |
Mr. |
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Designation
: |
Director |
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Address
: |
5-13-13, Ozenjihigashi, Asao – Ku, |
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Date
of Birth/Age : |
09.01.1949 |
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Date
of Appointment : |
26.08.2004 |
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Name : |
Mr. |
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Designation
: |
Director |
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Address
: |
989, |
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Date
of Birth/Age : |
20/01/1962 |
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Date
of Appointment : |
11/08/2005 |
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Name : |
Mr. Osamu Murao |
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Designation
: |
Director |
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Address
: |
1-17, E-502, Tsurumaki Tama, Tokyo-2060034, Japan |
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Date
of Birth/Age : |
01.07.1959 |
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Date
of Appointment : |
28.02.2007 |
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Name : |
Mr. Vinay Vaish |
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Designation
: |
Director |
KEY EXECUTIVES
|
Name : |
Mr. R. S. Bhatia |
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Designation
: |
Company Secretary |
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Address
: |
A-11, Navkunj Apartment, Patparganj, |
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Tel.
No. : |
91-11-22751314 |
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Mobile
No. : |
91-9212157776 |
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E-mail
: |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Sokkia Singapore Pte Limited |
450,000 |
60.00 |
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Mr. Vats
Ripudaman |
300,000 |
40.00 |
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Total |
750,000 |
100.00 |
As on 31.03.2006
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Names of Shareholders |
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Percentage of Holding |
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Foreign
holdings |
|
60.00 |
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Directors or their relatives |
|
40.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line
of Business : |
Manufacturer,
Exporter and Dealer in Surveying Instruments and Industrial Measurement
Systems. |
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Products
: |
☻
Global Positioning System ·
Series 030R ·
Series 30R ·
Series 130R ·
Auto – Pointing Total Station ·
SET210/310/510/610 ·
GPS/GIS ·
GSR2700 RS ·
GSR2650 LB ·
GSR2600 ·
Radian_IS ·
Stratus ·
Axis_3 ☻
Electronic Total Station ☻
Digital Theodolite ☻
Micro Optic Theodolite ☻
Digital Levels ☻
Laser Instrument etc ☻
Electronics Digital Theodolite (DT210, DT510, DT510A. DT610) ☻
Lasers
☻
Electronic Field Book ☻
Allegro CX ☻
JETT.CE ☻
Survey Software ☻
12d_Model Version 7 ☻
12d_Model ☻
3D Measuring System ☻
Monmos NET 1200 ☻
Gyroscope ☻
GP1-2A Gyro Station |
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Imports
from : |
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GENERAL INFORMATION
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Bankers
: |
The Sakura Bank Limited (Formerly Sumitomo Mitsui Banking
Corporation) |
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Banking Relations : |
Good |
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Auditors
: |
Vaish And
Associates Chartered
Accountant |
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Address
: |
C-62,
NDSE Part II, New Delhi-110049 |
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Tel.
No.: |
91-11-23355238 / 23719427 |
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Fax
No.: |
91-11–23320484 / 23739223 |
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E-Mail
: |
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Associates/
Subsidiaries: |
Sokkia Singapore Pte Limited, |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
1,800,000 |
Equity
Shares |
Rs. 10/- |
Rs. 18.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
750,000 |
Equity
Shares |
Rs. 10/- |
Rs. 7.500 millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS
FUNDS |
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1] Share
Capital |
7.500 |
7.500 |
7.500 |
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2]
Reserves & Surplus |
45.903 |
28.332 |
20.137 |
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NETWORTH
|
53.403 |
35.832 |
27.637 |
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LOAN
FUNDS |
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1]
Secured Loans |
0.226 |
0.460 |
0.663 |
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2]
Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL
BORROWING
|
0.226 |
0.460 |
0.663 |
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DEFERRED
TAX LIABILITIES |
0.467 |
0.373 |
0.283 |
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TOTAL
|
54.096 |
36.665 |
28.583 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
6.404 |
4.686 |
4.166 |
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Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
|
17.147
|
14.788
|
14.338
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Sundry Debtors
|
22.326
|
22.255
|
19.876
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Cash & Bank Balances
|
25.885
|
8.031
|
9.379
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Other Current Assets
|
1.928
|
11.140
|
1.514
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Loans & Advances
|
16.827
|
1.575
|
6.899
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Total Current Assets
|
84.113 |
57.789
|
52.006
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Less : CURRENT LIABILITIES & PROVISIONS
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|
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Current Liabilities
|
17.609
|
13.699
|
20.282
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Provisions
|
18.812
|
12.111
|
7.307
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Total Current Liabilities
|
36.421 |
25.810
|
27.589
|
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Net
Current Assets
|
47.692 |
31.979
|
24.417
|
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TOTAL
|
54.096 |
36.665 |
28.583 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
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Sales Turnover |
133.820 |
|
92.454 |
|
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Other Income |
2.016 |
0.813 |
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Total
Income |
135.836 |
103.732 |
92.454 |
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Profit/(Loss) Before Tax |
27.106 |
13.035 |
11.204 |
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Provision for Taxation |
9.534 |
4.840 |
4.121 |
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Profit/(Loss) After Tax |
17.572 |
8.195 |
7.083 |
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Total
Earnings |
3.795 |
1.176 |
1.271 |
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Imports
: |
|
|
|
|
|
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Others |
72.112 |
55.163 |
48.228 |
|
Total
Imports |
72.112 |
55.163 |
48.228 |
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|
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Expenditures : |
|
|
|
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Interest |
0.254 |
|
|
|
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Depreciation & Amortization |
0.646 |
0.586 |
80.585 |
|
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Other Expenditure |
106.930 |
88.949 |
|
|
Total
Expenditure |
107.830 |
89.823 |
80.585 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
12.94 |
7.90 |
7.66
|
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|
Net Profit Margin
(PBT/Sales) |
(%) |
21.50 |
13.24 |
12.93
|
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|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
29.94 |
20.86 |
19.94
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.51 |
0.36 |
0.41
|
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
0.68 |
0.73 |
1.02
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
2.31 |
2.24 |
1.89
|
LOCAL AGENCY FURTHER
INFORMATION
Profile
The company is 100%
subsidiary of Sokkia Singapore Pte. Limited, that markets GPS electronic total
station and optical theodolites, levels and laser products.
Testwell Scientific
Instruments Private Limited, are the authorized distributors for Sokkia
products for the states of Maharashtra and
Subject imports
computers, service equipments and software.
Subject reportedly
exports of electronic total stations, electronic digital Theodolites, digital
levels, auto levels and laser products.
Holding Company
Sokkia
Address : 401,
Tel. No. : 65-6-4793966
Fax No. : 65-6-4794966
E-mail : sales@sokkia.com.sg
Company Reg. No. : 199000439W
Sokkia Company Limited was established in 1920. Since then,
they have focused their efforts on crating measuring instruments
History
1920 - Founded as Sokkisha in
1943 - Established as public stock company
1989 - Listed on the first section of Tokyo
Stock Exchange
1992 - Company changed name of Sokkia
Company Limited
1995 - Sokkia Company Limited was awarded
ISO9001 Certificate
The company is responsible for the following market regions:
- The
GROUP
PROFILE
Sokkia group is a provider of precision surveying
instruments and industrial measurement systems. GPS surveying systems,
construction lasers equipment, precision laser interferometers and 3-D and 2-D
industrial measurement systems. Empowered by customers’ unswerving trust, the
group use all the know-how that the company have amassed and all the techniques
it has developed to meet all of its customers’ wants and needs.
Sokkia Company Limited was founded as Sokkisha in
Sokkia products are available throughout the world.
SOKKIA SINGAPORE PTE LIMITED
Sokkia Singapore
Pte Ltd was established in January 1990 as a wholly owned subsidiary of Sokkia Company
Limited It serves as a dynamic distribution center, ensuring Sokkia products
are supplied and supported in accordance with the parent's company high
standards. It is responsible for the following market regions: -
Sokkia Singapore Pte Ltd has capable and reliable
distributors, agents and dealers throughout these regions providing full sales,
service and technical support. Authorized service centers are equipped with
state of the art facilities and are managed by factory trained technicians.
OUR
Sokkia is continuously expanding the horizons of measurement
technology and thus providing "Our best for the world".
SOKKIA COMPANY LIMITED (parent company of the Sokkia
Group)
Sokkia Company, Limited is the headquarters of Sokkia group.
Sokkia is a leading provider of precision surveying instruments and industrial
measurement systems. During our history of over 80 years, we have come to make
our mark in developing total stations, theodolites, levels, GPS surveying
systems, construction laser equipment, precision laser interferometers, and 3-D
and 2-D industrial measurement systems. Empowered by customers' unswerving
trust, we use all the know-how that we have amassed and all the techniques we
have developed to meet all of our customers' wants and needs.
Sokkia Company, Limited was founded as Sokkisha in
PRESS RELEASES
SOKKIA Financial
Results Ended December 2005
February 20, 2006
Sokkia Company Limited (Japan)'s consolidated financial
results for the nine months ended 31 December 2005 resulted in net sales of
15,668 million JPY, down 4.1 % and the operating income was 632 million JPY, a
38.1% decrease compared to the same period of the previous year. Ordinary
income was 964 million yen, an 8.5% increase and net income was 775 million
yen, a 71.7% increase over the same period of the previous year. Consolidated
financial results for the six months ended 30 September 2005 marked 671 million
yen as net income, a 40.2% increase compared to the same period of the previous
year. Net sales were 10,810 million yen, down 0.4% and the operating income was
682 million yen, an 11.9% decrease compared to the same period of the previous
year.
Group
Companies
SOKKIA COMPANY LIMITED
Sokkia Group Head Office
(
260-63,
HASE, ATSUGI, KANAGAWA, 243-0036
Phone 81-46-248-7984
Fax
81-46-247-1731
URL http://www.sokkia.co.jp/english/
SOKKIA COMPANY LIMITED
International Sales
Department (
260-63, HASE, ATSUGI, KANAGAWA, 243-0036
Phone 81-46-248-7984
Fax 81-46-247-1731
SOKKIA CORPORATION
American Head Office (
16900 West.
118th Terrace,
Phone 1-913-492-4900
Fax
1-913-492-0188
E-mail sales@sokkia.com
SOKKIA CORPORATION (
Phone 1-905-238-5810
Fax
1-905-238-9383
E-mail :gail.burns@sokkiacorp.com
SOKKIA LATIN AMERICA (
Phone 1-305-599-4701
Fax
1-305-599-4703
E-mail sales.info@sokkiala.com
POINT, INC (
16900 West.
118th Terrace,
Phone 1-913-492-7585
Fax
1-913-492-8233
E-mail sales@sokkia.com
AGL CORPORATION (
Phone 1-501-982-4433
Fax
1-501-982-0880
URL http://www.agl-lasers.com
SOKKIA PTY. LIMITED (
Rydalmere
Metro Centre, Unit 29,
Phone 61-2-9638-2400
Fax
61-2-9638-2200
E-mail sales@sokkia.com.au
SOKKIA B.V.
European Head Office
(THE
Businesspark
de Vaart, Damsluisweg 1, 1332 EA Almere, P. O. Box 1292, 1300 BG Almere, The
Netherlands
Phone 31-(0)36-5322880
Fax
31-(0)36-5326241
E-mail sales@sokkia.net
SOKKIA LIMITED (
Datum
House, Electra Way, Crewe Business Park, Crewe,Cheshire, CW1 6ZT United Kingdom
Phone 44-(0)1270-250511
Fax 44-(0)1270-250533
E-mail sales@sokkia.co.uk
SOKKIA B.V.
Niederlassung Deutschland (
E-mail info.de@sokkia.net
SOKKIA S.R.O. (CZECH)
Skroupovo
nam. 1255/9, 130 00 Praha 3, Czech
Phone 420-2-2272 6010
Fax
420-2-2272 6159
E-mail info.cz@sokkia.net
SOKKIA
Rue
Copernic, 38760 Chasse sur
Phone 33-(0)4-72490303
Fax
33-(0)4-72492878
E-mail sokkia@wanadoo.fr
SOKKIA N.V./S.A. (
Phone 32-2-466 82 30
Fax 32-2-466
83 00
E-mail info.be@sokkia.net
SOKKIA KOREA COOMPANY
LIMITED (
2Fl. Sesin
Building 2F, 129-11, Chungdam-dong, Kangnam-ku, Seoul, Republic of Korea
Phone 82-2-514-0491
Fax
82-2-514-0495
E-mail sokkia@sokkia.co.kr
SOKKIA
Head Office for South
East Asia / South Asia / Middle East / Africa (
Phone 65-6479-3966
Fax
65-6479-4966
E-mail sales@sokkia.com.sg
SOKKIA (M) SDN. BHD. (
Dataran
Prima, No. 31-3, Jalan PJU 1/42A, 47301 Petaling Jaya, Selangor Darul Ehsan,
Malaysia
Phone 60-3-78052197 / 7044240
Fax
60-3-78054069
E-mail sokkia@tm.net.my
SOKKIA
Suite #A-2,
Westland Trade Center, 4th Floor C-5, Central Commercial Area Block 7 & 8
K.C.H.S.U. Limited Shaheed-E-Millat Road, Karachi, Pakistan
Phone 92-21-4313151 / 4343153
Fax
92-21-4313154
E-mail sokkia@cyber.net.pk
SOKKIA INDIA PRIVATE
LIMITED (
C-25, 2nd
Floor, Sector-8, Noida-201301,
Phone 91-120-2424154 / 159, 91-120-2424499 / 501
Fax
91-120-2424158
E-mail sokkia@bol.net.in
Um Hurair Area, Near Al Nasr Cinema Karama ,
Mailing Address:Post Box-4801,
Phone 971-4-3368539
Fax
971-4-3368549
E-mail sokkia@emirates.net.ae
SOKKIA RSA PTY.
LIMITED (
SOKKIA House, Certuria Park Unit 10, 265 Von Willich Avenue, Centurion
0157, Pretoria, Republic of South Africa
Phone 27-12-663-7999
Fax
27-12-663-7998
E-mail sokrsa@mweb.co.za
SOKKIA SURVEYING
INSTRUMENTS TRADING (SHANGHAI) COOMPANY LIMITED (PEOPLE'S REPUBLIC OF
Middle of 3rd Fl., 8# Industrial Bldg., No.308 Fenju Rd., Waigaoqiao
Free Zone, Shanghai #200131,
People's Republic of China
Phone 86-21-63541844
Fax
86-21-63172083
E-mail sokkia1@online.sh.cn
SOKKIA COOMPANY
LIMITED
SHANGHAI REP. OFFICE (PEOPLE'S
REPUBLIC OF
1107 & 1108, Tower 1
People's Republic of
Phone 86-21-33030360
Fax
86-21-63172083
E-mail sokkia1@online.sh.cn
CMT
REPORT [Corruption,
Money laundering & Terrorism]
The Public Notice information has been collected from
various sources including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED PARTY
No
exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that
subject is or was the subject of any formal or informal allegations,
prosecutions or other official proceeding for making any prohibited payments or
other improper payments to government officials for engaging in prohibited
transactions or with designated parties.
3] Asset Declaration :
No
records exist to suggest that the property or assets of the subject are derived
from criminal conduct or a prohibited transaction.
4] Record on Financial Crime :
Charges or
conviction registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with Government :
No
record exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our
market survey revealed that the amount of compensation sought by the subject is
fair and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report
:
No press reports / filings exists on the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments
on Corporate Governance to identify management and governance. These factors
often have been predictive and in some cases have created vulnerabilities to
credit deterioration.
Our Governance Assessment focuses principally on the
interactions between a company’s management, its Board of Directors,
Shareholders and other financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local
laws, regulations or policies that prohibit, restrict or otherwise affect the
terms and conditions that could be included in the agreement with the subject.
FOREIGN
EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.44 |
|
|
1 |
Rs.82.03 |
|
Euro |
1 |
Rs.55.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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
|
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 |