MIRA
INFORM REPORT
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Report Date : |
01.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
COIMBATORE INDUSTRIAL INFRASTRUCTURE ASSOCIATION |
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Registered Office : |
Siema Buildings, 2nd Floor, 8/4, Race Course,
Coimbatore-641018, Tamilnadu |
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Country : |
India |
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Date of Incorporation : |
30.03.2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBC04256A |
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Line of Business : |
Improving International Competitiveness if the industry. |
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 : |
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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 an established association of Government of India. Trade
relations are fair. Payments are usually correct and as per commitments. The association can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Siema Buildings, 2nd Floor, 8/4, Race Course,
Coimbatore-641018, Tamilnadu, India |
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Tel. No.: |
91-422-4394128/ 4394227 |
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Fax No.: |
91-422-2223076 |
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E-Mail : |
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Website : |
MEMBERS
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Name : |
Mr.G.Rajendran |
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Designation : |
President |
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Address : |
8/4,Race Course ,
Coimbatore-641 018 |
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Other Directorships : |
Past President -SIEMA |
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Name : |
Mr.C.R.Swaminathan |
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Designation : |
Vice-President |
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Address : |
112,G.V.Residency,Sowripalayam, |
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Other Directorships : |
Past President -SIEMA |
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Name : |
Mr.D.Balasundaram |
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Designation : |
Vice-President |
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Address : |
195,Race Cource, |
KEY EXECUTIVES
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Name : |
Mrs.Vanitha Mohan |
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Designation : |
Committee Member |
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Address : |
282,Tea Estate, Coimbatore-641018 |
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Name : |
Mr.A.Murugesan |
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Designation : |
Committee Member |
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Address : |
49.D.J.Nagar,Peelamedu,
Coimbatore-641004. |
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Name : |
Mr.Mahendra Ramdas |
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Designation : |
Committee Member |
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Address : |
25-A, Avarampalayam Road, K.R.Puram (PO),
Coimbatore-641006 |
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Name : |
Mr.R.Balasundaram |
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Designation : |
Committee Member |
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Address : |
325,Trichy Road,Singanallur, Coimbatore-641005 |
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Name : |
Mr.C.R.Shanmughasundaram |
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Designation : |
Committee Member |
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Address : |
8/4, Race Course , Coimbatore-641 018. |
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Name : |
Mr.A.Sivashanmughakumar |
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Designation : |
Committee Member |
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Address : |
394/1& ,395/1, Hem Garden Peelamedu,
Coimbatore - 641 004 |
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Name : |
Mr.Chanchal Kumar I.A.S |
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Designation : |
Committee Member |
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Address : |
Dy.Secretary/Dy.Secertary, Ministry of Commerce
& Industry, Deptt. of Industrial Policy & Promotion Govt. of India,
Udyog Bhawan, NewDelhi - 110 011 |
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Name : |
Mr.S.Asokan |
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Designation : |
Committee Member |
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Address : |
General Manager, District Industries Center,
Rajastreet, Coimbatore - 641 001 |
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Name : |
Dr.R.Rudramurthy |
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Designation : |
Committee Member |
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Address : |
Principal, PSG College of Technology,
Peelamedu, Coimbatore- 64 1004 |
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Name : |
Dr.G.Ranganathan |
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Designation : |
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Address : |
Managing Director, NEU Fricmat Private
Limited, 1/389, Sri Lakshmi Nagar, Kandan- K Vadamadurai Post, Coimbatore -
641 017 |
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Name : |
Mr.P.S.Raghunathan |
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Designation : |
Chief Financial Officer |
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Address : |
Coimbatore Industrial Infrastructure
Association, 8/4, Race Course Second floor, SIEMA Building, Coimbatore- 641
018 |
BUSINESS DETAILS
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Line of Business : |
Improving International Competitiveness if the industry. |
LOCAL AGENCY
FURTHER INFORMATION
Website Details :
Promoted by : The Southern India Engineering Manufacturers Association (SIEMA)
The Government of India has launched a scheme for the Up gradation of the Industrial Infrastructure where a cluster of units of same industry are located.
The objective of the scheme is to improve international competitiveness of the
industry.
The Scheme requires contribution and participation to an extent of at least 25%
of the project cost from the beneficiaries and Government of India provides a
grant for the rest of the cost.
Coimbatore region has a cluster of units in the manufacture of motors, pumps
and castings. For the purpose of improving their competitiveness in this era of
globalization, SIEMA with the support of Institute of Indian Foundrymen (IIF),
Coimbatore Chapter submitted to Government of India a project costing
Rs.670 millions, which has now received its approval.
For the implementation of this project, Coimbatore Industrial Infrastructure
Association (COINDIA) has been promoted and registered as a Society under the
Tamil Nadu Societies Registration Act 1975 on 30th March 2005
in accordance with the guidelines of Government of India. SBI Capital Markets Limited., has appraised the project and State Bank of India, Coimbatore has agreed to provide loans for the project.
The components of the Project are:
Provisions of Infrastructure and common facilities for relocation of
small foundries outside Coimbatore
city.
The small foundries in Coimbatore city have been asked to shift out of the
city.
The project proposes to provide for it.
Sand recycling facility for foundries.
Sand used in foundries will be recycled to reduce cost and solid waste disposal problems.
Sewage water treatment for Coimbatore city
The treated water will be used for agriculture and for sanitation.
Improving production, product development facilities for motor pump set and
foundry industry.
The facilities for improving quality and reducing cost along
with training facilities will be provided.
The New Industrial Revolution
There is a new energy sweeping across the industrial landscape. A new way of looking at things that respond to challenges with a positive frame of mind. It’s in many ways a paradigm shift. One could even call it a new industrial revolution. Because what it seeks to do is change the playing field and make industries more competitive in the global context. It calls for pooling resources, building infrastructure, sharing information and setting standards of excellence.
Charmilles Robofil-390
Get the Competitive edge
The Coimbatore Industrial Infrastructure Association (COINDIA) has been set up at a cost of Rs.670 millions with the express intention of providing support and services across a wide spectrum of activities of give engineering enterprises, specifically the pump, motor and foundry industries, the competitive edge.
Vertical Turning Center
One key area that subject would focus on would be to help industries in Coimbatore achieve competence in the global context by leveraging the collective industry capacity and strengths. This collaborative efforts, especially in areas of quality, technology, R&D, process and infrastructure would benefit small and medium units in achieving excellence without really having to make major investment.
As an integral part of this cluster, engineering enterprises in Coimbatore can look forward to a wide range of service support that would certainly help them increase efficiency and performance.
Core Competence
Subject is fully equipped to provide a level of service that member engineering enterprises profit from it. These include:
Renishaw Laser Scanner
v Physical infrastructure
v Transportation and logistics
v Environment protection, pollution abatement and waste management.
v Power and fuel
v Water, sanitation and hygiene
v Technical and Engineering
v Human resources development
v Material procurement and vendor development
v Marketing and commercial relationship
Testing Center
Apart form this the cluster would provide world class facilities within easy reach. This includes the setting up of a testing centre the first of its kind in India, to test and certify pump design. Design testing would go a long way in product acceptance in the international market and also contribute to developing multi purpose pumps.
Sand
Reclamation
Subject would be setting up a sand reclamation plant to enable small and medium foundries to recycle 75 percent of sand and thereby reduce the process cost by over 20 percent. This is a much felt need and would be a boon to the industry.
Rapid Prototyping
Spark Erosion Machine
A double laser-sintering system for direct tool less production would also be established for the production of sand cores and moulds for metal castings. Laser sintering is an established process for ensuring the quickest route from product idea to market launch.
Training Center
Another key project of subject would be the setting up of a training center for women in core making, motor winding, testing and packing. This would go a long way in providing a helping hand to women looking for lucrative employment options. The setting up of a crèches to look after the children of working women in foundries and other industries is also in the pipeline. Apart from this the cluster would provide world class facilities within easy reach.
Tool Room
A die and mould centre would be set up equipped with DMG machining centre, Charmilles, Wire EDM machine, Spark Erosion machine etc to ensure efficient process parameters.
Environment protection
Deckel Maho Machining Center
(DMG)
Subject is committed to environmental protection and measures to ensure ecological balance and conservation of natural resources. As a crucial step in that direction, foundries would be shifted to the outskirts of the city. A sewage treatment plant would also be set up to help save the fast depleting ground water.
Apart from all these, setting up of training facilities for persons in the industry, information and business centers and seminar halls would form part of the overall plan to achieve excellence.
The sum total of COINDIA’s
commitment
RPT-Double
Laser Sintering System EOSINT-S750
For
moulds & sand cores
Testing
Laboratory
Cordinate measuring Machine
CMM-Wenzel, Germany
Subject’s efforts are largely focused on ensuring that the benefits of such a cluster peter down to every single member integral to it. These include the reduction of product development time and cost and the improvement of performance and process parameters in the pump and foundry industries.
Spearheading the revolution
Subject is promoted by the Southern India Engineering Manufacturer’s Association(SIIEMA) with the support of Coimbatore Chapter of the Institute of Indian Foundrymen (IIF) in association with Small Industries’ Testing and Research Center(Si’Tarc), SIRUTHULI, Coimbatore Foundry and Industry Owners Association(COFIOA), and the Coimbatore Tiny & Small Foundry Owners Associatin(COSMOFAN). COINDIA is an initiative that would certainly contribute to the industrial growth of the region.
Press Release :
COINDIA signs pact with Si'Tarc
Testing facilities will be
created in two phases at a total cost of Rs. 54.500 millions
COIMBATORE:
Coimbatore Industrial Infrastructure Association (COINDIA) has signed an agreement with Small Industries Testing and Research Centre (SiTarc) to create facilities under the Industrial Infrastructure Upgradation Scheme.
According to the COINDIA president, G. Rajendran, testing facilities will be created in two phases at a total cost of Rs. 54.500 millions and in the first phase, works will be taken up for Rs. 20 millions to Rs. 30 millions.
"Tenders will be called for within a fortnight," he said. While Si'Tarc will contribute 25 per cent of the cost, the rest will be met from the assistance under the scheme.
Mr. Rajendran explained that the existing equipment at SiTarc were seven to 10 years old and these had to be upgraded to maintain revenue and reputation of the institution. The facilities to be created or modernised would benefit the small and medium-scale foundries, pump and motor units.
Subject planned to install latest computerized and automated testing system for pumps and motors and create testing facilities for rubber and engineering plastics used by the engineering units.
It would enable members to design, develop and test their products, according to global standards.
The Centre has sanctioned Rs. 400 millions to upgrade infrastructure for the Coimbatore pump, motor and foundry units. The total project cost is Rs. 660 millions and it will be completed in 18 months. Works will be taken up in four segments, involving a number of other industry associations here.
Apart from these, the project envisaged setting up of a modern tool room with state-of-the-art machinery.
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 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.44.28 |
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UK Pound |
1 |
Rs.86.62 |
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Euro |
1 |
Rs.58.32 |
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 |
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 |
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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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