MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAMSUNG TELECOMMUNICATIONS INDIA PRIVATE LIMITED |
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Registered Office : |
7th / 8th Floor, IFCI Tower, 61, Nehru Place, New
Delhi – 110 019. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
24.10.2005 |
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Com. Reg. No.: |
142043 |
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CIN No.: [Company
Identification No.] |
U64201DL2005PTC142043 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS28499C |
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PAN No.: [Permanent
Account No.] |
AAJCS3356B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Exporters and Importers of Electrical and Electronic
Items |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 3200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Samsung, Korea. Trade relations are fair.
The company has been successful in wiping-off all its previous losses during the
year 2006-07. Business is active. General financial position is good.
Payments are reported as usually correct and as per commitments. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajeev Bindra |
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Designation : |
G M Finance |
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Contact No.: |
Mobile no.91-9810890173 |
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Date : |
10.07.2008 |
LOCATIONS
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Registered Office : |
7th / 8th Floor, IFCI Tower, 61, Nehru Place,
New Delhi – 110 019, India. |
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Tel. No.: |
91-11-41511234/ 46591234 |
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Fax No.: |
91-11-41608818 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Factory/ Branches : |
At Noida |
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Area : |
25000 sq.mts. |
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Location : |
Owned |
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DIRECTORS
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Name : |
Mr. Hyun Chul Ryu |
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Designation : |
Managing Director |
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Address : |
C 4/2, Safdarjung, Development Area, New Delhi – 110 016, India. |
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Date of Birth/Age : |
24.11.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
24.10.2005 |
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Name : |
Mr. Won Taek Yang |
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Designation : |
Director |
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Address : |
1st Floor, 120 E, Malcha Marg, Chanakyapuri, New Delhi –
110 021, India. |
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Date of Birth/Age : |
50 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
24.10.2005 |
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Name : |
Mr. Ho Sun Jang |
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Designation : |
Director |
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Address : |
C-5, Gulmohar Park, New Delhi – 110 049, India. |
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Date of Birth/Age : |
02.02.1971 |
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Date of Appointment : |
21.04.2006 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Samsung Electronic Company Limited |
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43999990 |
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Samsung Asia Private Limited |
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10 |
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TOTAL |
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44000000 |
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Equity Share
Break-up (as on 29.09.2007) |
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Percentage
of Holding |
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Foreign holdings (Foreign institutional investor(s), Foreign
companie(s), Foreign financial institution(s),Non-residentIndian(s), or
Overseas corporate bodies or Others |
|
100 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporters and Importers of Electrical and Electronic
Items |
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Exports : |
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Countries : |
Thailand, Malaysia, Indonesia, Singapore |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Korea, China |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Open Account |
GENERAL
INFORMATION
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Customers : |
Distributors |
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No. of Employees : |
320 (In office-20, In factory-300) |
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Bankers : |
HSBC Bank Cannought Place, Branch ,Delhi. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
1)
P-1, Aditya Vihar, Saidulajab, Opposite D-Block, Saket, Mehrauli
Badarpur Road, New Delhi – 110 030, India. 2)
Building 8, 7th and 8th Floor, Tower B, DLF,
Cyber City, Gurgaon – 122 002, Haryana, India. |
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Holding Company |
Samsung Electronics Corporation Limited – Korea |
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Associates/Subsidiaries : |
·
Samsung India Electronics Private Limited Address: 7th / 8th Floor, IFCI Tower, 61, Nehru
Place, New Delhi – 110 019,India. Line of Business: Consumer Electronics ·
Samsung S1 Corporation ·
Samsung SDS Corporation Limited ·
Samsung Network INC ·
Samsung
Corporation ·
Samsung SDS Asia Pacific Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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44000000 |
Equity Shares |
Rs.10/- Each |
Rs.440.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
44000000 |
Equity Shares |
Rs.10/- Each |
Rs.440.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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440.000 |
440.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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199.478 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
(77.300) |
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NETWORTH |
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639.478 |
362.700 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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639.478 |
362.700 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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348.631 |
378.360 |
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Capital work-in-progress |
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0.000 |
45.765 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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25.669 |
9.651 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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341.934 |
112.146 |
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Sundry Debtors |
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382.328 |
165.683 |
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Cash & Bank Balances |
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402.561 |
249.119 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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64.564 |
61.877 |
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Total
Current Assets |
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1191.387 |
588.825 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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886.213 |
655.311 |
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Provisions |
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39.996 |
4.590 |
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Total
Current Liabilities |
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926.209 |
659.901 |
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Net Current Assets |
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265.178 |
(71.076) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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639.478 |
362.700 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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5180.008 |
226.197 |
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Other Income |
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1.967 |
2.213 |
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Total Income |
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5181.975 |
228.410 |
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Profit/(Loss) Before Tax |
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313.373 |
(85.893) |
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Provision for Taxation |
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36.595 |
(8.592) |
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Profit/(Loss) After Tax |
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276.778 |
(77.300) |
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CIF Value |
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4212.001 |
638.567 |
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FOB Value |
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317.143 |
75.231 |
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Expenditures : |
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Financial Charges |
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5.027 |
0.874 |
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Depreciation |
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137.768 |
0.000 |
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Other Expenditure |
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4725.807 |
313.428 |
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Total Expenditure |
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4868..602 |
314.302 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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5.34 |
(33.8) |
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Net Profit Margin (PBT/Sales) |
(%) |
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6.05 |
(37.9) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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20.35 |
(8.98) |
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Return on Investment (ROI) (PBT/Networth) |
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0.49 |
(0.24) |
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Debt Equity Ratio (Total Liability/Networth) |
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1.45 |
1.82 |
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Current Ratio (Current Asset/Current Liability) |
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1.29 |
0.89 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
· Samsung Asia Pacific Limited – Singapore
· Samsung Malaysia Limited – Malaysia
· Samsung Indonesia Limited – Jakarta, Indonesia
· Samsung Electronic UK Limited.
· Samsung India Electronic Private Limited
· Samsung Gulf Electronic
· Samsung Japan Company Limited
· Samsung Electronics Philippines Corporation
· Samsung Asia Private Limited
WEBSITE DETAILS:
SAMSUNG India is
the hub for SAMSUNG's South West Asia Regional operations. The South West Asia
Headquarters, under the leadership of Mr. H B Lee, President and CEO, looks
after the SAMSUNG business in Nepal, Sri Lanka, Bangladesh, Maldives and Bhutan
besides India. SAMSUNG India which commenced its operations in India in
December 1995 enjoys a sales turnover of over US$ 1Bn in just a decade of
operations in the country.
Headquartered in
New Delhi, SAMSUNG India has widespread network of sales offices all over the
country . The SAMSUNG manufacturing complex housing manufacturing facilities
for Colour Televisions, Colour Monitors, Refrigerators and Washing Machines is
located at Noida, near Delhi. SAMSUNG 'Made in India' products like Colour
Televisions, Colour Monitors and Refrigerators are being exported to Middle
East, CIS and SAARC countries from its Noida manufacturing complex. In November
2007, SAMSUNG has commenced the manufacture of Colour televisions and LCD
televisions at its state–of-the-art manufacturing facility at Sriperumbudur,
Tamil Nadu.
The latest SGH E840 is the World's Slimmest Slide-up phone. The Metal Series phones transcend the current market offering by presenting consumers the immaculate metallic silver cased body. These phones derive their inner strength through powerful cutting edge multimedia features.
The Company launches World's Slimmest Slider Metal Series phone in
India
The company is a dominant player in Indian mobile industry with leadership in design and technology, once again repositioned the Indian mobile handset market with the launch of three new Metal Series phones - SGH E840, SGH D900i and SGH D840. The latest SGH E840 is also the World’s Slimmest Slide-up phone. The Metal Series phones transcend the current market offering by presenting consumers the immaculate metallic silver cased body. These phones derive their inner strength through powerful cutting edge multimedia features.
Speaking on this occasion Mr. H. C. Ryu, Managing Director, Samsung Telecommunications India said, “India is a very critical market for Samsung and the launch of World’s slimmest slider Metal phone is a testimony to their commitment to meet the growing aspirations of consumers for sleek, aesthetically designed phones that accentuate their personality without compromising on premium multimedia capabilities.“The Metal Series range completely embodies everything that Indian consumers are seeking in a mobile in terms of unique metallic design and flawless performance, making it an instant attraction to business users, fashion conscious consumers and multimedia enthusiasts.”
The design inspiration of the Metal series is drawn from the core attributes of Metal itself i.e. Power and Prestige. Designed for the power player of tomorrow the slim metallic phones is a combination of stylish looks and sturdiness.
The Metal Series:
SGH E840
SGH E840, the world’s slimmest slide-up metallic phone is equipped with full mirror LCD, hidden touch keypad and 2.22” wide TFT LCD screen. To provide sophisticated and polished look to its user, the phone used premium materials such as tempered glass and metal. With elegant design the phone is equipped with high end multimedia features like 2 mega pixel camera, FM Radio, MP3 player, Mobile printing, document viewer and 70 MB internal memory with expandable microSD T flash external memory (upto 2GB).
SGH D900i
SGH D900i is the new avatar of Worlds Best Mobile phone D900 for 2007 (as declared at GSM Association’s Global Mobile Award). This12.9mm slim slider comes with artistically designed metal lining body offering loads of high-end multimedia features like 3 mega pixel camera with dynamic user interfaces, vivid 262K color screen, Bluetooth® stereo headset, FM Radio, New camera UI, enhanced battery life and speedy shutter.
SGH D840
SGH D840 epitomizes the metallic finish in the entire range of Metal series. This beautifully metal finished mobile phone is fully equipped with cutting edge entertainment features like 2 Megapixel Camera, MP3 player with integrated dual speaker, multi-format music player for listening music on your Bluetooth stereo headsets wirelessly alongwith 80 MB of internal memory and external microSD memory.
All the Metal Series phones are secured with revolutionary mobile tracker, emergency SMS alert and privacy lock that provides peace of mind to mobile consumer.
The company is a 100% subsidiary of Samsung Electronics Company, Korea, is a dominant mobile player in the Indian market. As the part of its global strategy to cater to the world’s largest emerging telecom market, Samsung has set up a mobile phone manufacturing unit at Haryana, India. Being Samsung’s fourth overseas handset manufacturing facility in the world after China and Brazil, this unit is catering the demands of local markets and acting as the manufacturing hub for other Asian and Middle East countries.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.72 |
|
UK Pound |
1 |
Rs.84.42 |
|
Euro |
1 |
Rs.67.38 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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|
|
--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
YES |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|