MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIVERSAL KING |
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Registered Office : |
No. 39/16, Sabapathy Street, Perabur, Chennai – 600011, Tamilnadu |
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Country : |
India |
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Year of Establishment : |
2005 |
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IEC No. |
0404015719 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacture, Exporter and Importer of Human Hair, Wefts Hair and
Colored Hair |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small and unknown concern in its field. No payments are available. No banking relations are known. It would be prudent to deal with the concern on safe and secured trade
terms and conditions. |
LOCATIONS
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Registered/Head Office/Factory : |
No. 39/16, Sabapathy Street, Perabur, Chennai – 600011, Tamilnadu |
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Tel. No.: |
91-44-42779426 |
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Mobile No.: |
91-9884524924 |
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Fax No.: |
91-44-42779426/26711856 |
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E-Mail : |
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Area : |
900 Sq. ft |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mrs. Shireen Samson |
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Designation : |
Proprietor |
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Address : |
13/4, Watkings Street, Perambur, Chennai – 600011, Tamilnadu |
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Date of Birth/Age : |
45 Years |
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Qualification : |
10 |
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Experience : |
1 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacture, Exporter and Importer of Human Hair, Wefts Hair and
Colored Hair |
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Products : |
Human Hair |
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Exports : |
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Products : |
Human Hair |
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Countries : |
Brazil and Turkey |
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Terms : |
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Selling : |
L/C |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
5 |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
Website Details
An Overview
The global hair care market enjoys steady growth, thanks mainly to the robust conditions
in the developing countries, backed by sustained growth in the buoyant
developed market. Also, an increasing product diversity is making the future
look rosier. Keeping up with new styles and market trends, today’s easy care,
lightweight wigs offer consumers the versatility of quick and simple fashion
changes. However, it is important to note that wearing wigs was not simply a
trend in the world of fashion. Wigs often served practical purposes such as a
protection against the elements of cold and rain.
Subject, ever since its establishment has
revolutionized the hair business and today, they are recognized as a leading manufacturer, exporter and supplier of
human hair, weft hair, remy hair, etc. They supply to wig
boutiques, beauty supply stores and professional beauty salons worldwide. They
export 80% of their products to their prestigious clients spread all across the
globe. Their attention to detail, competitive prices and excellent customer
services are some factors that set them apart from their close competitors.
Product Offerings
Worked hard to become the industry's first choice, and continue to offer
products that guarantee their customers' satisfaction. The world's finest wig
and toupee shops, as well as Hollywood and Bollywood, call onthem when they
need the best quality raw, unprocessed, and processed natural hair. Subject is
engaged in the manufacture, export and supply of the following:-
Human Hair
Black Curly Hair
Handmade Weft
Natural Brown Hair
Natural Straight Hair
Natural Wavy Hair
Remy Blonde Hair
Remy Grey Hair
Remy White Blonde Hair, etc.
Quality
Long-term relationships with their suppliers of raw human hair and temples
ensure that only the finest quality remy hair is used for their clients. The
treated strands of hair are custom made to suit the end user of the product.
Quality checks are made by experienced technologists at each stage of
production to ensure that all products fully comply with their specification.
The hair goes through a process of washing, removal of short hair, coloring and
softening, in order to ensure that the hair does not tangle. The end result is
totally long lasting manageable hair. They, subject, offer the color selection
that will suit the most distinct needs. Their human hair products are available
in all natural colors.
Manufacturing Process
The hair is still manufactured like it was in the 1980's, by hand to ensure
that the quality remains the same. Manufacturing process at subject comprises
of the following:-
Collection:- Hair is collected from various temples
in India and also procured from various suppliers
Sorting:- Coordinating the procured hair on the basis of color and texture
Processing:- The hair is first washed to get rid of impurities and then it is dried and angled according to the requirements
Packing:- Hair is tightly wound and packed in carton
boxes.
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 |
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US Dollar |
1 |
Rs.42.40 |
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UK Pound |
1 |
Rs.80.54 |
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Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
1 |
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--LEVERAGE |
1~10 |
1 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
1 |
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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 |
YES |
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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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13 |
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. |
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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