MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
MGK
INTERNATIONAL, INC. |
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Registered Office : |
61-35 98TH ST. Suite 9brego Park, NY 11374 |
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Country : |
United States |
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Date of Incorporation : |
05/07/2007 |
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Legal Form : |
Corporation - Private |
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Line of Business : |
Scrap Metal Trading Company. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
& EXECUTIVE SUMMARY
Company Name: MGK INTERNATIONAL, INC.
Address: 61-35 98TH ST. SUITE 9B
City: REGO
PARK
State/Province: NY
Zip Code: 11374
Sales / Revenue: -
Country: UNITED STATES
Net Income:
Telephone: 630-674-5924
Total Equity:
Facsimile: 646-843-4704
Number of Employees: 4
URL No
Website
Legal Form: Corporation - Private
Shareholder: Mr. Nikhil Karnavat
Business Activity: The Subject is engaged as
a scrap metal trading company.
NOTE TO
CLIENT
We contacted the company
and spoke to Mr. Hitendra Jain, President, who provided information about the
company.
LEGAL
Legal Form: Corporation
- Private
Incorporation
State NY
Status: ACTIVE
Previous Legal
Form: Unknown
Since (D/M/Y): 05/07/2007
The company is NOT
required to publish an annual financial report.
The Subject is incorporated in the state of New York under the following registration:
Current Entity Name: MGK INTERNATIONAL, INC.
Initial DOS Filing Date: JULY 05, 2007
County: NEW YORK
Jurisdiction: NEW YORK
Entity Type: DOMESTIC BUSINESS CORPORATION
Current Entity Status: ACTIVE
Selected Entity Address Information DOS Process (Address to which DOS
will mail process if accepted on behalf of the entity)
MGK INTERNATIONAL, INC.
230 FIFTH AVENUE
SUITE 1913
NEW YORK, NEW YORK, 10010
Registered Agent
NONE
MANAGERS
/ KEY PERSONNEL
Mr. Hitendra Jain President
Mr. Nikhil Karnavat Vice President
Ms. Rashmi Karnavat Director
Owners
Mr. Nikhil Karnavat Shareholder
Ms. Rashmi Karnavat Shareholder
AFFILIATED
COMPANIES
The following company is affiliated with the
Subject:
MTC BUSINESS PVT. LTD. GROUP - INDIA
BANKS
HSBC Bank
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State/Province: |
NY |
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Country: |
UNITED STATES |
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Telephone: |
631-877-0099 |
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Facsimile: |
631-473-3109 |
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Account Manager: |
Hetal Vaveri |
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Bank rating: |
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Account Number: |
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Open Since (D/M/Y): |
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Credit Facility: |
- |
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Overdraft Limit: |
- |
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Outstanding Amount: |
- |
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Bank Loans: |
- |
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Returned Checks: |
- |
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Average Account Balance: |
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We have contacted the above-mentioned bank. In the event of a
response, we will forward the information immediately. |
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PAYMENT
HISTORY
The Firm is not a large seeker of local trade credit as a significant payment record could not be developed.
FINANCIAL
INFORMATION
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Year-End (D/M/Y) |
31/12/2008 |
31/12/2007 |
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Income Statement |
Projected |
Quarterly |
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Global Net Sales |
40,000,000 |
20,000,000 |
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FINANCIAL INDICATORS
Mr. Jain stated that the Subject had 2007
fiscal year sales of $20 million USD.
He also projects the Company to have sales of
$40 million USD for 2008.
NOTE: The 2007 figure represents from the
period of July to December.
The figures are expressed in actual USD.
CURRENT OPERATIONS
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SIC Code: |
5051 |
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NAICS Code: |
42151 |
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Metal Service Centers and Offices |
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Number of Employees: |
4 |
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Business Activity: |
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The Subject is engaged
as a scrap metal trading company.
The Company is
currently focused on buying ferrous scrap metal and heavy melting steel from
the Far East.
The Firm also buys
and sells the following metals: Cast Iron, PNS [plates and structures], CRCA Scrap and Silicon Scrap.
The heading address is the location of the Company's headquarters.
The Firm has a branch office in New York, NY.
PUBLIC RECORD
A search of public failed to reveal any Uniform Commercial Codes, tax liens, legal actions, or bankruptcy petitions at this time.
COMMENTS
The Subject, incorporated in July 2007, is engaged as a scrap metal trading company. No payment record was found for the Company. No derogatory information such as bankruptcy filings, tax liens, or civil judgments were found against the
Company.
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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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%)