MIRA
INFORM REPORT
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Report Date : |
03.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
JASS
INTERNATIONAL |
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Registered Office : |
17, Bipin Ganguly
Road, Ground Floor, Kolkata-700030, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April 2002 |
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Legal Form : |
A partnership
concern with an unlimited liability of the concern. |
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Line of Business : |
Manufacturer and
Exporter of Different Types of Gate Fittings and Fence Fittings. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 800 |
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Status : |
Moderate |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
small concern and could not make much headway over the periods. Trade
relations are fair. Partners are experienced, respectable and resourceful
businessmen. Their trade relations are fair. Payments are usually correct and
as per commitments. The concern can
be considered for small to mediocre business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
17, Bipin Ganguly
Road, Ground Floor, Kolkata-700030, West Bengal, India |
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Tel. No.: |
91-33-25486823/7777/2430 |
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Fax No.: |
91-33-25482920 |
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E-Mail : |
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Website : |
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Area : |
2000 sq. ft. |
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Location : |
Rented – Semi Commercial
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PARTNERS
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Name : |
Mr. Ramendra
Narayan Mazumder |
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Designation : |
Partner |
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Name : |
Mr. Ahindra
Narayan Mazumbder |
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Designation : |
Partner |
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Date of Birth/Age : |
1979 |
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Qualification : |
B E, MBA |
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Experience : |
6 Years |
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Name : |
Mr. Rathindra
Narayan Mazumder |
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Designation : |
Partner |
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Name : |
Mr. Atindra
Narayan Mazumder |
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Designation : |
Partner |
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Name : |
Mr. Jibendu
Narayan Mazumder |
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Designation : |
Partner |
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Name : |
Mrs. Sreeparna
Mazumder |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Different Types of Gate Fittings and Fence Fittings. |
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Exports : |
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Countries : |
Australia, New Zealand,
USA and Iceland |
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Terms : |
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Selling : |
Cash, Credit or
L/C terms |
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Purchasing : |
Cash or Credit
terms |
GENERAL
INFORMATION
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Customers : |
Manufacturers and
Wholesales |
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No. of Employees : |
10 |
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Bankers : |
Ø
Central Bank of India,
Kolkata Main Branch, 33, Netaji Subhas Road, Kolkata-700001, West Bengal,
India Ø Central Bank of India, Gogodaga Branch |
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Facilities : |
O/D Rs. 0.225 Million From Gogodaga
Branch |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Saphui and Ghosal Chartered Accountants Kolkata, West Bengal, India |
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Memberships : |
Ø
Engineering Export
Promotion Council, India Ø
Small Scale Industries Ø West Bengal Small Exporters Promotion Society |
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Associates/Subsidiaries : |
Ø
Mahindra
Constructions, Haldia Ø
Industrial
Construction Ø
Mazumder
& Company, Kolkata Ø M Mazumdar & Company, Kolkata |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.200 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.200 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
1.000 |
1.200 |
1.050 |
Expected Sales (2007-08) : Around Rs.1.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Subject is in the
process for ISO-9000 certification.
Subject
manufacturers different types of Ferrous and Non-Ferrous Fittings. Its
production comprises of a wide range of gate fittings and fence fittings.
Trade
terms with
v
RJR Limited,
Iceland
v
Kiwibranz
Limited, New Zealand
Company History :
JASS International
was formed in April, 2002 by enthusiastic entrepreneurs from an established
business family having immense experience for almost 50 years in the
Engineering industry of construction and fabrication. The basic aim of the
parent group is to make a mark in the international market through JASS
international.
Company Objectives:
The objectives of
JASS International have been outlined below:
Ø Become a leader in their market area
Ø Provide quality products and services to their buyers at reasonable prices.
Ø Identify and focus on buyer needs.
Ø Maintain a long term relationship with their buyers.
Ø Be proactive towards industry trends.
Ø Recruit and assign experienced personnel at all levels of management.
Ø Maintain market stability and financial strength.
Mission:
The company would
involve its resources to manufacture customized items according to its
customers’ needs. The fittings manufactured by JASS International would be
recognized by all major companies involved in similar industries. JASS
International would be the leader in Fence and Gate Fittings industries for its
strengths in superior quality products, competitive pricing, excellent customer
service and strict delivery schedule.
Commitment to Quality:
Goal is to be the No:
1 source for the Fence and Gate Fittings needs. They denote their passage to
success by way of introducing quality products in the market. They are
committed to manufacture and supply the best quality Fence and Gate Fittings.
They do undertake
research and development work to improve the quality of their products to meet
up with the market needs. They do promise to offer quality products to their
buyers at affordable prices maintaining their firm stand for quality of the
products.
Product
They manufacture
different types of Ferrous and Non-Ferrous Fittings. “Fittings” is a comprehensive
term. It covers a big span of engineering goods dominating multifarious
spheres. Their production comprises of wide range of Gate Fittings and Fence
Fittings. The manufacture of fittings in precise form is a must to cope with
the requirements of Gates and Fences. They also manufacture customized
fittings/items as per buyers’ needs. High expertise, best workmanship together
with quality control arrangement under the supervision on qualified and
experience engineers enables us to give shape to high quality fittings.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.43 |
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UK Pound |
1 |
Rs.81.35 |
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Euro |
1 |
Rs.57.83 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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37 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
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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