MIRA
INFORM REPORT
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Report Date : |
15.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
GLOBAL
SOURCING AND TRADING COMPANY |
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Registered Office : |
220,
Lloyds Road, A-1, Darshan Apartment, Gopalpuram, Chennai-600086, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
June,
2004 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Dealers
of Schreder, R.A.K. Ceramics, Duval Messien, Privia, Oracle granite Limited,
Dorma |
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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Maximum Credit Limit : |
USD
10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well-established concern having satisfactory track. Trade relations are
fair. Payments are usually correct and as per commitments. The
concern is doing satisfactory business. It can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
220,
Lloyds Road, A-1, Darshan Apartment, Gopalpuram, Chennai-600086, Tamilnadu,
India |
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Tel. No.: |
91-44-64551577 |
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Mobile No.: |
91-9940044444 |
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Fax No.: |
91-44-64551588 |
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E-Mail : |
athu2@yahoo.com, tiles@gstc.in, sanitary@gstc.in, electronics@gstc.in, glassworks@gstc.in |
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Website : |
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Factory
1 : |
Located
at Chennai |
SOLE PROPRIETOR
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Name : |
Mr. N.
Athreya |
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Designation : |
Proprietor |
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Address : |
No.6,
North Boag Road, T. Nagar, Chennai600017, Tamilnadu, India |
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Date of Birth/Age : |
29.07.1982 |
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Qualification : |
B.Com,
M.B.A. |
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Experience : |
3
years |
BUSINESS DETAILS
|
Line of Business : |
Dealers
of Schreder, R.A.K. Ceramics, Duval Messien, Privia, Oracle granite Limited,
Dorma |
PRODUCTION
STATUS
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Particulars |
Unit |
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Installed Capacity |
Actual Production |
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Hollow Blocks |
Blocks |
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10000 |
7500 |
GENERAL
INFORMATION
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No. of Employees : |
35 |
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Bankers : |
Vijaya
Bank, Egmore, Chennai |
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Banking Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.2.500
millions |
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Borrowed : |
-- |
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Total : |
Rs.2.500
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
20.000 |
8.000 |
5.000 |
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Profit/Loss for the year |
2.900 |
1.200 |
0.700 |
LOCAL AGENCY
FURTHER INFORMATION
The
company has shifted from the above mentioned old address to New address as
follows :
Old
No.55, New No.6, K. B. Dasan Road,
Seethammal
Colony, First Main Road,
Alwarpet,
Chennai-600017,
Tamilnadu,
India
Website Details :
Glass Works - Dorma
Dorma is a globally
active supplier of door technology products and systems. The company is the
world market leader in door controls, movable walls and automatic door systems.
The DORMA Group is subdivided structurally into five divisions: Door Control,
Automatic, Glass, STA (Security / Time and Access) and Movable Walls. Dorma
maintains major production plants in several European countries plus Singapore,
Malaysia, China and North and South America. The DORMA Group headquartered in
Ennepetal, Germany, operates on an international scale with 65 wholly-owned
companies in 44 different countries.
Electronics – Duval Mession
In its determination to offer its customers even more effective
solutions, Duval Messien continuously adapts to new technologies: electronics,
IT, telecommunications or H.F. currents. The Schréder Group G.I.E. specialises
in lighting with manufacturing operations in 33 countries spread across 5
continents. Today, anywhere in the world, as with Keselec Schréder each client
finds a contact person who can work closely with them and offer lighting
products at the cutting edge of technological innovation.
Electronics Locks – Duval
Mession
In allusion to the special circumstances of the office and home, Ideal developed
the ADEL office and home lock series which is especially applicative to the
office, meeting room, manager room, financial room, documentation room,
computer room, confidential room, home, etc. Ideal has 100% sole intellectual
property and more than 70 invention patents over the office and home lock
series.
Mini Bars
In 1994 KLEO started production absorption type mini bar which is
ideal especially for hotel and hospital rooms because of their silent and
without vibration running feature.
Electronic Safes – Duval Messien
For a peace of mind when one is in his health club, interviewing a
potentially dangerous criminal or require restricted access to the contents of
a cabinet. The only freestanding electronics locking system for lockers in
health clubs, hospitals, police stations, schools & universities, etc.
Business Intelligence System –
Duval Mession
The technical installations in a building are essential to create
the conditions under which people feel comfortable and work can proceed
undisturbed. For which Business Intelligent Systems support the building.
Tiles – Oracle Granito Limited
Vitrified tiles are 'glass-like'. Vitro means glass in Italian. So
vitrified tiles are hard and frost proof. Although only a small amount of tiles
are used outdoors in cold weather service, people buy them cause they are
stronger than regular soft cheap ceramic.
Ceramic tile has become the general term given to most tiles that
are made from clay products. Years ago they considered ceramic as the typical
soft body absorbent tile normally found on bathroom walls. When they started to
import large (8") Italian tiles in the '70's, they called those glazed
quarry tiles.
Wooden Tiles are made of veneered plywood. This material is chosen
for two fundamental reasons: 1. the wood is much more stable as a laminated
veneer core material, and; 2. it's much kinder to the forests and the planet
because less solid material is used their manufacture.
Sanitary Ware
American Standard is
global business company through their name is American. They are part of
people's lives in more than 40 countries, from the air they breathe to the
water they drink to their level of safety on the highway. They do that through
three businesses: Air Conditioning Systems and Services, Bath & Kitchen
Products and Vehicle Control Systems.
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
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Indian Rupees |
|
US
Dollar |
1 |
Rs.44.31 |
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UK
Pound |
1 |
Rs.86.82 |
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Euro |
1 |
Rs.57.29 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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48 |
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/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 |
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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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