MIRA
INFORM REPORT
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Report Date : |
11.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASIAN IMPEX |
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Registered Office : |
285/1, 100 Feet Road, 3, 10, Doddabanasawadi, Bangalore – 560043,
Karnataka |
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Country : |
India |
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Date of Incorporation : |
1997 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Trader, Dealer, Exporter and Importer of Tissue, Black Boards, Flash
Doors and Veneers |
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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject seems to be on old concern but nothing much could be said
about the subject. The management of the concern remained non-cooperative and
declined to part with any details. We could manage some information from
market sources, based on which this report has been prepared. The concern can be considered for any business dealings on fully safe
and secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
285/1, 100 Feet Road, 3, 10, Doddabanasawadi, Bangalore – 560043, Karnataka,
India |
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Tel. No.: |
91-80-25568590 / 25456054 |
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Mobile No.: |
91-9343621362 / 9845049759 |
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E-Mail : |
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Area : |
2500 sq. ft. |
SOLE PROPRIETOR
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Name : |
Mr. Salman Syed |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B. Com |
KEY EXECUTIVES
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Name : |
Mr. Imran Syed |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Razuran Syed |
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Designation : |
Chief Executive Officer |
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Name : |
Mr. Sufiyn Syed |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Trader, Dealer, Exporter and Importer of Tissue, Black Boards, Flash
Doors and Veneers |
GENERAL
INFORMATION
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No. of Employees : |
5 |
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Bankers : |
Union Bank of India |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Asian Timber and
Plywood Activities : Dealers in all kinds of Block Boards, Flush Doors and
Veneers |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
-- |
FINANCIAL DATA
[all figures are in Rupees Millions]
Not Available
LOCAL AGENCY
FURTHER INFORMATION
The Registered Office of the company has been shifted from No. 45, New
Bamboo Bazar Road, Bangalore – 560051, Karnataka [Tel No. : 91-80-25513532; Fax
No.: 91-80-25513532] to the present address.
We visited the office of the company/concern where following observations were carried on:
- Name Board could be sighted and the visibility of the Name Board is moderate.
- The concern’s office is easy to locate.
- Subject is located in a residential area [Near Banaswadi Timber and Plywood Business Area]
- Items such as Telephone and Office Equipments could be seen at the concern’s office.
The proprietor is not available for meeting [Reported to be
very busy person] Met Mr. Sikkandar at the Shop as well as Mr. Ansar who look
after the business.
They said after consulting the Proprietor that they do not
have any business connections in Korea and as such without knowing the identity
and purpose of the asking company; they are not able to give data.
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.39.29 |
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UK Pound |
1 |
Rs.76.92 |
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Euro |
1 |
Rs.57.71 |
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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