MIRA
INFORM REPORT
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Report Date : |
12.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
SHARDA
GENERAL MERCHANDISE LTD. CO. |
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Registered Office : |
1195
Remedio Street, Paco, Manila |
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Country : |
Philippines |
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Date of Incorporation : |
September
3,1996 |
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Com. Reg. No.: |
A199605428 |
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Legal Form : |
Partnership |
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Line of Business : |
Manufacturer
and distributor of stainless steel wires. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Details
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Company Name: |
SHARDA
GENERAL MERCHANDISE LTD. CO. |
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Supplied Name: |
SHARDA
GENEREL MERCHANDISE LTD. CO |
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Supplied Address: |
1195 REMEDIO
STREET, PACO, MANILA, PHILIPPINES |
Payment Summary
No
information.
Company Identification Details
|
Company Name: |
SHARDA
GENERAL MERCHANDISE LTD. CO. |
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Registered Number: |
A199605428 |
|
Legal Form: |
Partnership |
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Date Incorporated: |
September
3,1996 |
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Registered Capital: |
N/A |
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Listed at Stock Exchange: |
No |
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Principal Activities: |
Manufacturer/distributor-
stainless steel wire |
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SIC: |
D28996 |
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Staff: |
N/A |
Note:
Amounts in Philippine Peso unless otherwise specified.
Number
of employees not disclosed.
History
Company Background
|
Regulatory Agency |
Date Registered |
Registration No. |
Term |
|
Securities and Exchange Commission |
September 3, 1996 |
A199605428 |
- |
Other
registration details not developed. Likewise, none was provided by source.
Partners & Management
Information
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Name: |
SHARDA,
ALWANI |
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Position: |
Managing
Partner |
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Note: |
Reportedly
an Indian national. |
Operation
|
Activities |
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Manufacturer
and distributor of stainless steel wires. |
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Operates
Monday to Saturday. |
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Sales/Purchases Information |
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Import: |
Stainless
steel imported from India. |
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Export: |
No |
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Selling
Terms: |
Sales
are made for cash and on credit. |
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Territory: |
Local |
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Premises |
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Headquarters,
administrative office and plant at captioned address. Located in a mixed
industrial and residential section on side street. |
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Financial Information
No financial
statements currently filed with SEC. Likewise, none was provided by source.
Payment
No local
trade reference developed since 100% of raw materials are imported. Likewise, a
trade survey conducted with several possible suppliers did not reveal any
trading information.
Bankers
No bank
references developed.
No
dealings based on available credit exposure reports with one million and above
dealings as of June 30, 2007.
Public Records
SHARDA
GENERAL MERCHANDISE LTD CO not found in our database of individuals/companies
with labor related cases as of November 6, 2007.
No
negative records found under SHARDA GENERAL MERCHANDISE LTD CO in available
database as of November 6, 2007.
Special Note
Analyst’s comments:
Given
address, 1195 Remedios St. Paco, Manila could not be located. The last house
number found was 1072.
Pursued
checking at given contact number, 0917-851-1077 yielded above information from
Mr. Alwani Sharda, Managing Partner, who declined to provide other relevant information
for confidentiality reasons. He provided the correct captioned address which is
about 3 kilometers away from given address.
ECONOMIC OVERVIEW (as of Second
Quarter
2007)
Economic
output is estimated to have grown by 6.6% (IDEA) in the first half of the year,
1 percentage point higher than the first-half outcome in 2006. Consequently,
the government and various private entities have upgraded their GDP
projections, indicating strong expectations of a solid finish in 2007 and
heightened optimism in the Philippine economy. The government, for example, has
raised its GDP growth forecast to 6.1-6.8% from 5.8-6.6%.
IDEA’s
estimates show that economic output is poised to grow at around 6.4% for 2007
and 2008. On the production side, the largest contribution to growth will come
from the Services sector, which is projected to grow at 9.0% this year and the
following year. This sector, in turn, is pulled up by good prospects in the
Finance, Trade, and Transport, Storage and Communication sectors.
On the
demand side, personal consumption demand will continue to push growth forward.
Government expenditures are also expected to increase with the approval of the
P1.1T budget and the wage increase of government employees.
Capital
formation, however, seems to be the weak link in the output demand equation.
Although the trend has improved from the registered 8.8% decline in 2005 to
2.7% growth in 2006, the share of capital formation to GDP has decreased from
18% in 2005 to 17% in 2006. Moreover, a concern is raised on the sustainability
of public construction given the unmet revenue targets and the goal of a
balanced budget by 2008.
In sum,
although the progress of the economy is slower than that of most other
economies in the region, the sustained and improving picture of overall
economic activity is notable considering the observed boom-and-bust behavior of
the economy in the past. A sustained decent growth will hopefully facilitate
the trickling down of economic gains to the micro-level. Analysis of figures at
the household level, however, will have to wait until the release of the 2006
Family Income and Expenditure Survey.
All in
all, there is no reason for the government to relax and take refuge in the
comforting economic figures and the continuously increasing inflow of
remittances. It remains to be seen if the government can deliver on its
promises of infrastructure and a balanced budget by 2008. The good economic
prospect is, as always, conditional on the events that will transpire in the
next semester of the year.
Source:
Institute for Development and Econometric Analysis (IDEA)
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 |
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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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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%)