MIRA
INFORM REPORT
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Report Date : |
25.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AQUA TRADE INTERNATIONAL |
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Registered Office : |
16/1083-A, Hadees Centre, Near Fisheries Harbour, Karuvelipady, Cochin
– 682005, Kerala |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Exporter and Trader of Fish, Sea Foods, Prawns, Shrimp, Crab, Snapper and
Other Sea Foods. |
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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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. Proprietor is
reported as experienced and respectable businessman. Trade relations are fair.
Business is active. Payments are
reported as 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 : |
16/1083-A, Hadees Centre, Near Fisheries Harbour, Karuvelipady, Cochin
– 682005, Kerala, India |
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Tel. No.: |
91-484-2220346 |
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Mobile No.: |
91-98460-55567 |
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Fax No.: |
91-484-2220346 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Rented |
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Factory : |
Periapalayam Main Road, Periapalayam, Tamilnadu – Near Amman Temple,
Chennai |
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Tel. No.: |
91-98460-55567 |
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Area : |
2500 sq. ft |
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Location : |
Rented |
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Chennai Office: |
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Tel No.: |
91-44-25979761 |
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Gujarat Office: |
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Tel No.: |
91-2876-247027/247134 |
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Visakhapattnam
Office: |
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Tel No.: |
91-891-5517023 |
SOLE PROPRIETOR
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Name : |
Mr. Ziyad Abdul |
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Designation : |
Proprietor |
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Address : |
Cochin, Kerala, India |
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Date of Birth/Age : |
13.12.1969 |
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Qualification : |
Graduate |
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Experience : |
10 years |
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Mobile No.: |
91-98460-55567 |
BUSINESS DETAILS
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Line of Business : |
Exporter and Trader of Fish, Sea Foods, Prawns, Shrimp, Crab, Snapper
and Other Sea Foods. |
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Products : |
Crustaceans
Molluscs
Bony Fishes
Scombroides
Perches
Elasmobranchs Sciaenids Carangids Ribbon Fishes Cat Fish Saradine, Shad
and Anchovies Flat Fishes Other Items |
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Exports : |
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Products : |
Sea Foods |
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Countries : |
Europe |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
Traders of sea foods |
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No. of Employees : |
7 |
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Bankers : |
Federal Bank, Ernakulam Main Branch, Cochin, Kerala |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
Allied Exim Foods |
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Address: |
16/1083-A, Hadees Centre, Near Fisheries Harbour, Karuvelipady, Cochin
– 682005, Kerala, India |
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Line of Business: |
Exporter of Sea Foods |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
N.A. |
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Borrowed : |
N.A. |
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Total : |
N.A. |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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20.000 |
18.500 |
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Net Profit |
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18% |
20% |
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of total turnover |
of total
turnover |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Cochin Sea Foods Wholesalers
- Chennai Sea Foods Wholesalers
Observation Point
- Name Board: Sighted
- Land Mark: From Ernakulam South Town Railway Junction around about
three kms to reach the office (Near to the cochin harbour)
- Office Appearance: Well Furnished and Interior decorated
- Office Located : Ground Floor
- Office Area : Business Area
Website details:
The
Better Quality The Better Relation
A professionally managed Seafood Trading and Exporting firm.
Established since one and half decade's.
Entered into the sea foods business as a processor and Merchant
Exporter, diversified to Seafood Export Trading and Overseas Buyers
Representation in 1996 under the name subject. Since then actively engaged in
sourcing and marketing of all varieties of Fresh Frozen Fish and Seafood to the
International markets from the reliable Indian Eu approved, HACCP implemented
and FDA listed Exporters/Factories on a regular basis and as per the
requirement of their prestigious buyers.
The
Varieties of Seafood
Their commitment and dedicated team work acheived them a
good reputation and confidence both in India and Overseas markets in line with
the spirit of dedication, capability, endeavor,reliability and on the principle
of development and benefits, it has lodged Aquatrade in the predominant
position.
Aquatrade and team with office and QC's at Cochin, Chennai
(Former name Madras), Visakhapatnam, Mumbai and Gujarat, commenced its sourcing
and service to the world wide Seafood Buyers and Importers with an initial and
annual capacity of 2500 M/tons of Fresh Frozen Seafood's. The Overseas Seafood
Buyers and Importers was satisfied with the quality that is supplied, and the
healthy and influential relationship with all the Indian Exporters and overseas
Buyers has subsequently increased their annual supplying volume to 10000 tons
and more.
Other
Business Developments in India.
They are constructing a Modern Seafood and Eu standard
Processing Plant at Chennai, India with 37.5 metric tons Freezing capacity per
day along with Raw and Co Treat, Steam Cooking and Vacuum Packing Facilities
(seperately).
Apart from the Indian Business, they have a joint investment
venture in oman and processing Fresh and Frozen Seafood in an EU approved plant
over 4 years. Supplying quality products to their buyers which is including
Fresh and Frozen Lobsters, Shrimps, Cuttle Fish, Tuna, Red Sea Bream, Emperor
Fish, Snappers, Rabbit fish, Parrot Fish , Mahi Mahi and other varieties of
Seafoods in different packing and forms that is available during season.
In additional to the above, they also have business relationship and tie's with
other oman , UAE, Bahrain and Yemen Seafood Exporters and they source and
arrange quality products subject to the interest of our buyers and under their
responsiblity.
Joint
Venture
They have also started a joint investment venture in Oman.
They leased an Eu approved factory at Sur, with a freezing / production
capacity of 15 tons per day. They are processing Cuttle Fish, Tuna, Red
Seabream, Blue Fish, Lobsters, Shrimps, and all other Fishes according to the
seasonal availabilities.
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.39.49 |
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UK Pound |
1 |
Rs.78.33 |
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Euro |
1 |
Rs.56.78 |
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 |
NO |
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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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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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