MIRA INFORM REPORT

 

 

Report Date :

13.06.2007

 

IDENTIFICATION DETAILS

 

Name :

International Electronics Concern Pvt. Ltd.(IEC)

 

 

Registered Office :

KHA 14, Harti Bhawan, Pulatisadak, P. O. Box 12588, Ramshapath, Kathmandu

 

 

Country :

Nepal

 

 

Financials (as on) :

15.07.2006

 

 

Date of Incorporation :

23.04.1983

 

 

Com. Reg. No.:

726 / 047 / 048

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Distributors, dealers & agent of computer and computer parts.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

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

Small

 

Status :

Small Company

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

name & address

 

International Electronics Concern Pvt. Ltd.(IEC)

KHA 14, Harti Bhawan, Pulatisadak,

P.O. Box 12588, Ramshapath

Kathmandu, Nepal

Telephone No.   : 977 – 1 – 4422107 / 4421991 / 4411807

Fax                   : 97 1 4421909

Email                : mkt.iec@wlink.com.np

 

 

Year Established

 

23.04.1983

 

 

Com. Regn. No.

 

726 / 047 / 048 at Kathmandu

 

 

Legal Status

 

Private Limited

 

 

Name of Directors   

 

Sl.No.

Name

Date of Birth

1

Arun Raj Shrestha

12.07.1965

2

Birendra Bajaracharya

13.05.1955

3

Aurobindra Prodhan

23.03.1972

4

Shyam B D Shrestha

02.07.1973

 

 

Major Shareholders    

 

All shares are held by the directors and relatives.

 

 

Auditors

 

N Amrtya & Co.,

Ramsapath, Kathmandu, Nepal

 

 

 

 

 

Staff

 

40

 

                                               

Bankers

 

Nepal Grindlays Bank Ltd., Kanthmandu, Nepal

Nepal Bank Ltd., Kathmandu, Nepal

 

 

Business    

 

They are distributors & dealers & agent of computer and computer parts.  Authorized distributor of Canon, Andes and Kem and Getway and various other concerns.

                                               

 

Imports 

 

Japan, Korea, UK etc.

 

 

Finance      

 

Authorised Capital : 260,000,000/- (26,000,000 Equity Shares of Nep Rs.10/- each)

Paidup : 252000000/- (25200000 of Nep Rs.10/- each)

 

 

 

 

 

 

BALANCE SHEET AS AT 15.07.2006

 

 

 

 

 

Liabilities

Amount

(Nep Rs.)

 

Assets

Amount

(Nep Rs.)

 

 

 

 

 

Paid up Capital

252,000,000

 

Fixed Assets

125,257,800

Unsecured Loan

1,080,900,000

 

Investment

97,808,424

Curret Liab. & Provisions

17,891,847

 

Sundry Debtors

114,235,328

 

 

 

Cash & Bank

19,202,528

 

 

 

Other Current Assets

18,363,301

 

 

 

Loans & Advances

5,574,292

 

 

 

Receivables

970,350,174

 

 

 

 

 

Total

1,350,791,847

 

 

1,350,791,847

 

 

 

 

 

 

Nep Rs.

 

 

 

Sales

1,623,444,139

 

 

 

Expenses

1,517,636,371

 

 

 

Profit before Tax

105,807,768

 

 

 

Profit after Tax

103,772,063

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

                                                           

                                                                                               

Remarks                     

 

Trading Terms –

 

Purchase          -           Cash                

Sales                -           Cash

 

Well established, respectable & reputed concern.  Payments are reported to be correct and regular as per commitment.  Business may be done on usual trade terms & conditions.

 

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

 

 

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%)

 

 

 

 

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