MIRA INFORM REPORT

 

 

Report Date :

10.01.2007

 

IDENTIFICATION DETAILS

 

Name :

SANGHAI TRADING

 

 

Registered Office :

4th Floor, Diamond Plaza Building, 391 Dr. D. B. Marg, Mumbai – 400004, Maharashtra  

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

1990

 

 

Legal Form :

Sole Proprietory Concern 

 

 

Line of Business :

Manufacturer of Green Marble – Granite and Sandstones, in blocks, Slabs and tiles

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 20000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established concern having satisfactory track. Trade relations are fair. Payments are correct and as per commitments.

 

The concern can be considered normal for business dealings at usual trade terms and conditions.

 

LOCATIONS

 

Registered Office :

4th Floor, Diamond Plaza Building, 391 Dr. D. B. Marg, Mumbai – 400004, Maharashtra, India

Tel. No.:

91-22-23861672/23878754

Mobile No.:

91-9820158831

Fax No.:

91-22-23805870/23802469

Website :

http://sangaitrading.tradeindia.com

Area :

700 sq. ft.

Location :

Owned [By Family]

 

 

Factory 1 :

At Udaipur in Rajasthan

 

SOLE PROPRIETOR

 

Name :

Mr. Samir Sanghai

Designation :

Proprietor

Date of Birth/Age :

39 Years

Qualification :

Graduate

Experience :

17 Years

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Green Marble – Granite and Sandstones, in blocks, Slabs and tiles

 

 

Products :

A wide range in Green Marble

 

 

Exports to :

Australia, UAE, USA, UK, China, Indonesia, Hong Kong, Malaysia and Singapore & Gulf countries

 

 

Imports from :

Dubai

 

 

Terms :

 

Selling :

L/C, Cash and Credit

 

 

Purchasing :

Credit [30 days]

 

GENERAL INFORMATION

 

No. of Employees :

10

 

 

Bankers :

Citi Bank NA

Fort, Mumbai – 400001

 

 

Facilities :

The concern donot enjoy any facility form it’s bankers. 

 

 

 

Banking Relations :

--

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 5.000 Millions

Borrowed :

--

Total :

Rs. 5.000 Millions

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2006

Sales Turnover

 

 

110.000

 

 

 

 

Export Value

 

 

110.000

 

 

 

 

 

Expected Sales Turnover for March 2007 Rs. 110.000 Millions 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade Reference

 

 

As per website

 

Sanghai Trading is a manufacturer and exporter of high quality Green Marble and all kinds of Granite & Sandstones, in blocks, slabs & tiles in various thickness. They have their own quarries and in-house cutting and polishing unit. Since 1990, they have been in the export business, marketing high quality stone to countries like USA, UK, China, Indonesia, Hong Kong, Malaysia and Singapore & Gulf countries.

 

Factory location


Their cutting and polishing unit is located at Sukher, Udaipur. In production capacity they have their own quarries for green marble & the production capacity is 60000 tonnes per annum. At about two places in Rajasthan, they have a Green Marble production capacity of around 60,000 tonnes per annum.

 

Product range


Their product range includes green marbles & all types of granite & sandstone from India.

 

Product quality


Sanghai Trading has adopted quality as its company's cornerstone policy. At their company, they have a team of expert and qualified professionals to inspect and maintain quality control with regard to size, thickness, variation in color and shade of the stones. It is only after passing their products through a number of testing procedures, they are cleared forward for exporting. They select only the best raw material for cutting and polishing purposes. This results in a breathtaking quality, which is admired by the people all over the world.

 

Infrastructure


They have their own quarries & cutting and polishing units. To sustain a production capacity of 60000 tonnes per annum, they have installed two diamond cutting Gangsaw units with nine single head pneumatic polishing plant. A dedicated and quite experienced workforce together with above facilities forms the backbone of their company. With these, they have emerged as one of the key players in export of natural stone industry.

 

 

Company Profile

 

Business Type      

Exporter , Manufacturer

Export Percentage

50%

Primary Competitive Advantages

Class cutting and polishing units, skilled workforce and a wide variety of marble stones.

No of Staff

50

Year of Establishment

1990

OEM Service Provided

No

 

 

 

 

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.44.53

UK Pound

1

Rs.86.24

Euro

1

Rs.57.80

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

54

 

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

 

 

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions