MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUTHIK COMPUTERS |
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Registered Office : |
New no. 2, Old No. 23, Munswamy Street, Ekkattuthangal, Chennai – 600006,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
2005 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Servicing and repairing of computer. Assembling of second hand
computers to be sold to individuals. Servicing computers for big IT
companies. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern meeting its smaller commitments
usually overtimes. Trade relations are fair. Scale of activity is limited. The concern can be considered good for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. S. Senthil Kannan |
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Designation : |
Proprietor |
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Date : |
08.07.2008 |
LOCATIONS
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Registered Office : |
B-20, Ground Floor, Gemini Parssn Commercial Complex No 600, Anna Salai,
Chennai - 600018, Tamilnadu, India |
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Tel. No.: |
91-44-22253144 |
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Mobile No.: |
91-9840372587 |
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E-Mail : |
kannan_senthil@yahoo.com |
SOLE PROPRIETOR
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Name : |
Mr. Senthil Kannan |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Servicing and repairing of computer. Assembling of second hand
computers to be sold to individuals. Servicing computers for big IT
companies. |
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Imports : |
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Products : |
Computer Parts |
GENERAL
INFORMATION
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No. of Employees : |
2 |
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Bankers : |
State Bank of India, Ekkaduthangal, Chennai – 600097, India |
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 : |
Not Available |
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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0.200 |
LOCAL AGENCY
FURTHER INFORMATION
Profile :-
This is a proprietorship firm. Nor Mr. S. Senthil Kumar who is the owner
has been doing computer services for the past 3 years. They used to visit HCL,
wipro, lgate and other big IT companies and service their computers and repair
them. Now he is not technically qualified or anything. They have done some
certificate courses and has learned the trade by practice. When they did
servicing for big companies the IT managers there used to give him their old
sets for sale or very less price. They used to bring them to their firm and set
them right and sell them to individual owners. Later their clients advised him
that they can import computer parts and assemble them himself and thus make
some profit. They thought about that and has enquired in korea about computer
parts like mother board, RAM, and other parts. They found that the prices in
Korea are a little more than in India which makes his idea not very lucrative.
So this firm is now contemplating import of computer parts from Korea
and is doing a market study. They have obtained quotations from various
companies in Korea and are studying them. Till now they have not not found
anything feasible however he thinks that there may be some money in this
business and is setting out to make plans to find our what best can be done.
They have their firm in the address give below (see office address).
Servicing and repairing computers from that address they make about 20000 per
month.
The firm is a very small one man show and not cash rich. No direct
supplies recommended at all. No financial transactions recommended at all. All
supplies through bank or LCs to be opened. They have not even decided the
bankers they want to use in case of opening a LC. Caution advised in all
dealings with them.
The address that they have given in Ekkaduthangal is their residential
address. They have in idea of shifting their office from Greams road to their
residence. So all communications should be sent to the residential address
only.
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.17 |
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UK Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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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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27 |
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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