MIRA
INFORM REPORT
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Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SAMEERA TRADING COMPANY |
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Registered Office : |
Embitee Complex, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS22859E |
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PAN No.: [Permanent
Account No.] |
AAFFS4471E |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and exporter of iron ore. |
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 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Partners are reported as experienced, respectable and having
satisfactory means of their own. Trade relations are reported as fair.
Business is active. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Embitee Complex, |
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Tel. No.: |
91-8394-265776 / 265447 |
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Mobile No.: |
91-9448388776 |
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Fax No.: |
91-8394-265049 |
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E-Mail : |
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Website : |
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Export Oriented Unit : |
Ingalagi |
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Harbours Located at : |
Chennai, Marmagao and |
DIRECTORS
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Name : |
Mr. H. Abdul Wahab |
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Designation : |
Partner |
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Date of Birth/Age : |
63 Years |
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Qualification : |
M.A.B.L. |
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Experience : |
40 Years |
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Name : |
Mr. H. Sajjad Wahab |
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Designation : |
Managing Partner |
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Date of Birth/Age : |
34 Years |
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Qualification : |
B. Com. |
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Name : |
Mr. H. Shadab Wahab |
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Designation : |
Partner |
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Date of Birth/Age : |
28 Years |
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Qualification : |
M.B.A. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of iron ore. |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Cash and Credit [30 days] |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
100 |
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Bankers : |
State Bank of Hospet main Branch |
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Facilities : |
EPC Limit |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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Around 200.000 |
Expected Sales (2007-08) : 20 % more than previous year.
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Noble Resources Limited, Hongkong
- Kargil International Trade Private Limited,
- Great Harvest Resources Limited,
- Red Horse Resources Limited, Hongkong
As per website
Subject was established with its main objective of
manufacturing and export of iron ore. The company an off-shoot of Kariganur Mineral Mining Industry (KMMI),
Hospet. STC has a strategic tie-up for supply of iron ore from KMMI. Further,
STC has established an export oriented unit (EOU) at Ingalagi about 60 kms from
Bellary District in the State of
STC is the Leading Exporter in Karnataka's Bellary District
for the year 2006-07 with iron ore exports close to 1 million Metric Tons to the markets of
STC's strength in processing high tumbler iron ore lumps suitable for direct reduction process safely and cost effectively. STC offers to its customers all the cutting edge benefits of comprehensive, state-of-the-art plant and machinery, top-of-the-line professional talent and unfailing service.
STC shall strive to continuously innovate and
excel to achieve customer satisfaction.
Force Behind STC
H. Abdul Wahab, Partner
Has been intimately involved with the development and management of mines for more than 30 years now. His vast experience and efforts, on rebuilding of mines, management systems have been instrumental in raising the company to new heights of efficiencies.
H. Sajjad Wahab, Managing Partner
A young and dynamic entrepreneur; brought up in family business and trained in renowned export house in Gulf. He has vast experience to shoulder the mining and marketing fields.
H. Shadab Wahab, Partner
A young and dynamic entrepreneur with a global vision. He is an MBA with the specialisation of Marketing and has been associated with business for the past six years.
Management
H. Abdul Wahab, Partner
Has been intimately involved with the development and
management of mines for more than 30 years now. His vast experience and
efforts, on rebuilding of mines, management systems have been instrumental in
raising the company to new heights of efficiencies. He is also responsible for
winning the national safety award in mines from the Ministry of Labour, Govt.
of India in the year 1986. He is associated with various professional bodies
and he was the President of Federation of Indian Mineral Industries. Under the
able leadership of Mr. H. Abdul Wahab,
Chairman & Managing Director of M/s Kariganur Mineral Mining Industry,
Hospet, having rich experience in the field of
H. Sajjad Wahab, Managing Partner
A young and dynamic entrepreneur; brought up in family business and trained in renowned export house in Gulf. He has vast experience to shoulder the mining and marketing fields. Presently Mr. H. Sajjad Wahab, CGM for m/s Kariganur Mineral Mining Industry, and also one of the Director of M/s KISPL located at Toranagallu Village, Bellary Dist. & m/s Embitee Iron & Steel Private Limited, located at Veniveerapur Village, Bellary Dist. Manufacturers of Sponge Iron and he is Managing Partner in SS Enterprises dealer of Reliance Retail Petrol Outlet in Hospet Ever versatile to plan and execute business to the best advantage of the firm, he has acquitted creditably to take the challenge of modernisation to steer ahead of others.
H. Shadab Wahab, Partner
A young and dynamic entrepreneur with a global vision. He is an MBA with the specialisation of Marketing nd has been associated with business for the past six years. Presently Mr. Shadab wahab, Joint Managing Director of M/s Embitee Iron & Steel Private Limited, Veniveerapur village. Bellary, A highly mechanised and efficient producer of Sponge Iron in domestic market and Mr. Shadab Wahab is one of the Director of M/s KISPL, located at Toranagallu, village, Bellary Dist. Manufacturers of Sponge Iron and he is Chief General Manager (Mines) for m/s Kariganur Mineral Mining Industry and also Partner in SS Enterprises dealer of Reliance Retail Petrol Outlet in Hospet.
Products
STC offers a broad and wide range of products for the international markets. Some of our products include:
High Grade CLO with high tumbler index of 80 for DRI process.
- High grade fines for using as sinter feed.
- Low grade fines for cement industry.
- Steel Greay Haematite.
Plant Throughput: 1 Million tonnes.
Products: (Fe: 62 % - 66%)
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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 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.41.57 |
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1 |
Rs.82.14 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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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45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
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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