MIRA INFORM REPORT
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Report
Date : |
08.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
MANX EXIM
INDIA PRIVATE LIMITED |
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Registered
Office : |
G-181, L G F Narayna Vihar, New Delhi – 110028 |
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Country
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India |
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Date
of Incorporation : |
21/02/2005 |
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Com.
Reg. No.: |
55-146711 |
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CIN
No.: [Company
Identification No.] |
U51909DL2006PTC146711 |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Manufacturer, Distributor and Importers of Fire Hare,
Valves and Sprinklers (Yoyko Zingiang ), Rubber Hokes, PVC Super Spray Hokes
(Korea), Clamps (Taiwan) |
RATING & COMMENTS
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MIRA’s
Rating : |
C |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists.
Caution needed to be exercised |
Credit not recommended |
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Maximum
Credit Limit : |
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Status
: |
New
Company |
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Payment
Behaviour : |
Unknown |
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Litigation
: |
Clear |
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Comments
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The company has been promoted by respectable businessmen.
It is a new company. It has no track of performance and financial status. The company can be considered for business dealings on
safe and secured trade terms and conditions. |
LOCATIONS
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Registered
Office : |
G-181, L G F Narayna Vihar, New Delhi – 110028, India |
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Tel.
No.: |
91-11-25891163/65 |
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Fax
No.: |
91-11-25891164 |
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Mobile
: |
91-9811096110 |
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E-Mail
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Website
: |
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Area : |
4000 sq. ft. – Leased |
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Factory : |
Office
No. 17th Floor, Raghushri Market Complex, Ajmeri Gate, New Delhi –
110006, India |
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Tel.
No.: |
91-11-23212008 |
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Fax
No.: |
91-11-25833434 |
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Area : |
500 sq. ft. - Leased |
DIRECTORS
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Name : |
Mr. Manish Singhal |
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Designation
: |
Director |
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Date
of Birth/Age : |
34 years |
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Qualification
: |
MBA |
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Experience
: |
12 years |
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Name : |
Ms. Deepika Singhal |
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Designation
: |
Director |
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Date
of Birth/Age : |
37 years |
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Qualification
: |
Graduate |
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Experience
: |
10 years |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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Percentage of Holding |
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Mr.
Manish Singhal |
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67.5% |
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Ms.
Deepika Singhal |
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32.5% |
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BUSINESS DETAILS
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Line
of Business : |
Manufacturer, Distributor and Importers of Fire Hare,
Valves and Sprinklers (Yoyko Zingiang ), Rubber Hokes, PVC Super Spray Hokes
(Korea), Clamps (Taiwan) |
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Terms
: |
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Selling : |
Credit (30 / 60
days) and others |
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Purchasing : |
DP terms |
GENERAL INFORMATION
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Customers
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Wholesalers and OEM’s |
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No. of
Employees : |
5 |
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Bankers
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Ø ICICI Bank Ø Union Bank of India, |
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Banking Relations : |
Unknown |
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Main
Concern : |
Ø Firel Systems Limited G-181,
Narayna Vihar, New Delhi – 110028, India Turnover
: 26 millions USD Website
: http://www.firelsystems.in Ø Zeco Aircon Industries Private
Limited A-19,
Narayna Vihar, New Delhi – 110028, India Turnover
: 40 millions USD Website
: http://www.zecoaircon.com Ø Manx Trading India Private Limited Ø Manx Commerce Private Limited Ø Manx Global Private Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10 each |
Rs. 1.000 million |
Issued,
Subscribed & Paid-up Capital :
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No. of
Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10 each |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
As the subject is a new company and no financials are
available.
LOCAL AGENCY FURTHER INFORMATION
Subject is sole distributor of Euery Company.
Expected Turnover of March 2007 : Rs. 120.000 millions
Ø PLLR GD
Turnover : 50 millions USD
In oil business (Edible and Non Edible Grade)
Sole distributor for north India for “Fortune” Adani Wilmar
Group.
Ø MEMPNLS COMMERCE PRIVATE LIMITED
Turnover : 15 millions USD
In Chemicals for (Pharma + Cosmetics Industries)
Sole Distributor for India “SHAH GROUP TMAILNT” and “TAYO”
Manx is a group having 4 registered companies :
Ø Manx Trading India Private Limited
Ø Manx Commerce Private Limited
Ø Manx Exim India Private Limited
Ø Manx Global Private Limited
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
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.17 |
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UK Pound |
1 |
Rs.86.10 |
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Euro |
1 |
Rs.57.26 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
-- |
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PAID-UP
CAPITAL |
1~10 |
2 |
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OPERATING
SCALE |
1~10 |
-- |
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FINANCIAL
CONDITION |
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--BUSINESS
SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
-- |
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--CREDIT
LINES |
1~10 |
3 |
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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 |
NO |
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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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9 |
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 |
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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/normal. |
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 |