MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
VINMAR OVERSEAS LTD |
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Registered Office : |
16800 Imperial
Valley Drive Suite 499, Houston
TX 77060 |
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Country : |
USA |
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Date of Incorporation : |
18.05.1998 |
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Legal Form : |
Limited Liability Corporation |
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Line of Business : |
Wholesales Plastic
Materials, Chemicals and Related Products |
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 : |
USD
230000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
230,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
VINMAR OVERSEAS, LTD. |
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Address: |
16800 Imperial
Valley Drive Suite 499 Houston TX
77060 USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (281) 618-1300 + 1 (281) 618-1399 0012088406 Texas Hemant Goradia , President |
Date founded: |
May 18,1998
Limited liability corporation N.A. N.A. 60 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesales plastic materials, chemicals and related products |
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BANKS
Wells Fargo
HSBC
Trade Bank
BUSINESS
Operations:
Vinmar Overseas, Ltd. is a private company located in Houston, Texas. Vinmar
Overseas, Ltd's line of business is wholesaler of
plastic materials, chemicals and related products.
Industry Overview:
About 10,000 companies produce chemicals in the US, with combined annual
revenues of $500 billion. Although large companies like Dow and DuPont produce
hundreds of chemicals, most companies specialize in one or two product lines.
The typical chemical company has annual revenue under $10 million. While the
industry as a whole is fragmented, the concentration in many segments is very
high: just a handful of manufacturers hold 80 percent or more of the segment.
Demand is driven by the health of the US economy because chemicals are
used to make a wide variety of industrial and consumer products. The
profitability of individual companies is closely tied to efficient operations.
Big companies have large economies of scale in production. Small companies can
compete effectively by producing specialty products, of which there are a large
number, or by operating a single plant highly efficiently. The industry is
highly automated: average annual revenue per employee is over $500,000.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
Hemant Goradia, President,
Vijay Goradia, Chief
Executive Officer.
The parent company is
Vinmar, Inc.
Vinmar, Inc.
16800 Imperial Valley Dr #
499,
Houston, TX 77060-3159,
United States
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Vinmar Overseas, Ltd. does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
11,500,000 |
LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 UCC Filing in 2008,2007,
2006, 2005 by Wells Fargo HSBC Trade Bank securing All Assets. Amount: NA
1 UCC Filing in 2007 by ABN
Aro Bank securing Receivables. Amount NA
All previous UCC Filings
have been cleared
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are made on a
regular basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a medium company
working
worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
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ADVISED CREDIT |
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230,000 USD |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)