MIRA
INFORM REPORT
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Report Date : |
02.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL QURESH EXPORTS |
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Registered Office : |
Room No. 310, 3rd floor, ‘A’ wing, Rizvi Chambers, Hill
Road, Bandra [West], Mumbai 400050, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1987 |
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Com. Reg. No.: |
11-150489 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA22341E |
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PAN No.: [Permanent
Account No.] |
AADFA1292M |
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Legal Form : |
Partnership concern with an unlimited liability of the
Partners |
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Line of Business : |
Exporter of fresh frozen meat, vegetables, poultry and other FMCG
goods |
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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Maximum Credit Limit : |
USD 2000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is a small and unknown concern having small business. Managing Partner remained non co-operate
during our several approaches. No information about their trade relations and payment are available. It could be prudent to deal with the concern on fully safe and secured
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Room No. 310, 3rd floor, ‘A’ wing, Rizvi Chambers, Hill
Road, Bandra [West], Mumbai 400050, Maharashtra, India |
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Tel. No.: |
91-22-26425930 / 26438093 |
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Fax No.: |
91-22-26425925 / 26455925 |
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E-Mail : |
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Area : |
300 Sq. fts. |
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Location : |
Rented |
PARTNER
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Name : |
Mr. Shakir Qureshi |
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Designation : |
Main Partner |
BUSINESS DETAILS
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Line of Business : |
Exporter of fresh frozen meat, vegetables, poultry and other FMCG
goods |
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Exports : |
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Products : |
Ø Frozen Meat Ø Vegetables Ø Poultry Ø Other FMCG goods |
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Countries : |
Middle East Countries |
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Imports : |
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Products : |
Kraft Paper and Card Board other than ivory board |
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Countries : |
Angola |
GENERAL
INFORMATION
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No. of Employees : |
5 |
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Bankers : |
Unknown |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
AL-Quresh Exports Private Limited Room No. 310, ‘A’ wing, 3rd floor, Rizvi Chambers, Hill
Road, Bandra [West], Mumbai 400050, Maharashtra, India CIN No. : U51909MH2005PTC150489 TAN No. : MUMA25126D Registration No. 150489 Date of Incorporation : 07.01.2005 Authorised Capital : Rs. 0.100 Million Paid up Capital : Rs. 0.100 Million |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.500 Million |
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Borrowed : |
- |
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Total : |
Rs. 0.500 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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Estimated around
Rs. 5.000 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
DETAILS
PROFILE:
Subject was incorporated in the year 1987. Their Concern is a
partnership firm consists of 5 employees working in the firm. They are doing
export of fresh frozen meat, vegetables, poultry and other FMCG goods. Their
Concern is government recognised export house. They are catering to Middle East
Countries.
The Concern is
continuously rising on the growth chart and setting very high quality
standards. Their strict emphasis on quality is combined with the latest
technology to offer their customers a competitive edge.
Since its
inception, the Concern has established a reputation for itself as a supplier of
quality products. They focus on quality and aim to achieve total customer
satisfaction, both in the products they offer and in the service that follows.
Their highest
priority is on customising their products. They are committed to provide what
their customer wants and they provide quality and consistency at the best
value.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.42 |
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UK Pound |
1 |
Rs. 78.26 |
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Euro |
1 |
Rs. 57.51 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
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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24 |
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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