MIRA
INFORM REPORT
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Report Date : |
14.06.2007 |
IDENTIFICATION DETAILS
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Name : |
LEATHER LINKS |
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Registered Office : |
FF-302 E, Sushant Lok-1, Gurgaon-122002, Haryana, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Partnership concern with an unlimited liability of the
partners |
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Line of Business : |
Trader and Indenting Agents for Synthetic Cloth and Fabrics. |
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 4800 |
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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 having satisfactory
track. Partners are reported as
experienced and respectable businessmen.
Trade relations are reported as fair.
Business is active. Payments ar
usually correct and as per commitments. The concern can e considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
FF-302 E, Sushant
Lok-1, Gurgaon-122002, |
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Tel. No.: |
91-124-4046880 |
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Mobile No.: |
91-9811015629 |
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Fax No.: |
91-124-4046990 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. fts. |
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Location : |
Owned |
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Branch Office : |
J 30 FF Lajpat Nagar, Part III, |
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Tel. No.: |
91-11-41716222 |
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Fax No.: |
91-11-41716223 |
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E-mail: |
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Area : |
1000 Sq. fts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Vijay Nijhawan |
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Designation : |
Partner |
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Date of Birth/Age : |
44 years |
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Qualification : |
Graduate |
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Experience : |
20 years |
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Name : |
Mr. M K Nijhawan |
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Designation : |
Partner |
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Name : |
Mr. Kapil Abrol C |
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Designation : |
Partner |
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Mobile No. : |
91-9810244102 |
BUSINESS DETAILS
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Line of Business : |
Trader and Indenting Agents for Synthetic Cloth and
Fabrics. |
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Products : |
v
POLIYOU v POLI-CORK v
POLI-XTREME v
WINPAD v
JUMPEC v
POLITEC v IMPRINT v SPRINGTEC |
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Imports : |
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Products : |
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Fabrics v
Synthetic Cloth |
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Countries : |
The Concern acts as indenting agents for companies in |
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Terms : |
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Purchasing : |
D/A, L/C, D/P |
GENERAL INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
3 |
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Bankers : |
ABN Amro Bank |
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Facilities : |
Current Account |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.200 millions |
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Borrowed : |
- |
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Total : |
Rs. 1.200 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Order booking |
70.000 |
50.000 |
20.000 |
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Profit/Loss for the year |
NA |
NA |
3.000 |
Expected Sales (2007-08) : Rs. 100.000 millions
LOCAL AGENCY FURTHER INFORMATION
It is in trade terms with:
- Liberty
Footwear Limited,
- Campus
Shoes Limited,
The concern represents :
Daewoo International,
Deawan Chemicals,
Honone Fine Chemicals,
Website details attached
Kun Huang Enterprise Co., Ltd
was established by Mr. Kun-Huang Chang in 1962 and gained the good reputation
with its reliable quality. Presently, the company is under the management of
Mr. Killow Chang, who handles the company to be a professional insole
manufacturer with varies products in the field. Kun Huang also built its
registered "POLIYOU®" brand name and supplied the
consumers more and more products. Kun Huang has won the ISO-9001 certification
with their continuous efforts in quality, researching and managing development.
PRODUCTS:-
POLIYOU®
POLIYOU® is patented open cell foam which continues to bring comfort to millions of customers of the most famous brand footwear companies worldwide.
Ř Superior moisture transport
Ř Superior compression set
Ř Inhibits growth of fungus and bacteria
Ř Controls odor with activated charcoal
Ř ESD insoles
Ř I.S.O. 9001 certified
Ř Excellent cushioning
Ř Proven performance
POLI-CORK
POLI-CORK combines the benefits of natural cork which has been associated with comfort footwear, with the performance benefits of POLIYOU®
Breathable and wicks
moisture
Natural odor absorbing
Active Carbon
Anti-microbial
POLI-XTREME
Bamboo charcoal is an environmental friendly material after high temperature carbonization process POLI-XTREME is combined with POLIYOU® and has remarkable value of bacteriostatic. Moreover, POLI-XTREME has the abilities to release negative ions and clean the odor trapped inside the shoes quickly.
Germproof & healthful
Odor free
Wick-moisture
Far Infrared rays
Keep
warmth
WINPAD®
WINPAD® is recycling foam from POLIYOU®. The benefits are same as POLIYOU®, but have better price. If your budget is limited and you are also looking for an excellent material, WINPAD® will be a good choice for you!!
v Superior moisture transport
v Superior compression set
v Excellent cushioning
v Proven performance
JUMPEC®
A new soft resilient foam that offers complete 100% breathability and almost no compression set. JUMPEC® provides a soft cushy ride that will give your customers the "AAHHH" for the life of the shoe.
- Almost no compression set (less than 5%)
- Very high every
return and good shock absorbing properties
- 100% Breathablity
for cool comfort
- Provides the
"AAHHH" feel
POLITEC®
The new Micro-cellular Polyurethane Foam with outstanding breathability and moisture wicking properties. POLITEC® has a combination of features not found in any existing foams in the market. When compared to the leading shock absorbing foam, POLITEC® rates number one.
Superior compression set (less than 6%)
Outstanding shock
absorption (shock attenuation)
87% greater moisture
absorption
44% greater elongation
Stronger tear strength
results
Complete air permeability
(Breathablity)
IMPRINT
IMPRINT is a kind
of "slow recovery" memory foam which can conform the shape of the
foot and return its original form. It can be combined with POLIYOU®
and molded to take a shape providing long lasting and shock absorbing benefits.
Shock absorbing
Pressure reliving
Arch supporting
Heel stabilizing
SPRINGTEC®
SPRINGTEC®
is revolutionary new patented Insole foam, designed to be lightweight, durable
while providing superior energy return benefits that relieve muscle fatigue.
Lightweight
High durability
Superior Energy return
Excellent tensile
strength
Excellent tear strength
Low
shrinkage
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 40.84 |
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1 |
Rs. 80.47 |
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Euro |
1 |
Rs. 54.32 |
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 |
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 |
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/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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