MIRA
INFORM REPORT
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Report Date : |
28.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SS GLOBAL SOLUTIONS |
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Registered Office : |
3/2, Subramanian Street, Perabur, Chennai – 600011, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2007 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Civil Contractors. |
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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Maximum Credit Limit : |
USD 50000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new and small concern meeting its smaller commitments
usually correct and as per commitments usually correct in time. Trade
relations are fair. Scale of activity is limited. The concern can be considered for small to mediocre business dealings. |
LOCATIONS
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Registered Office : |
3/2, Subramanian Street, Perabur, Chennai – 600011, Tamilnadu, India |
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Tel. No.: |
91-44-45571143 |
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Fax No.: |
91-44-45571143 |
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E-Mail : |
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Website : |
www.ssgs.co.in |
SOLE PROPRIETOR
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Name : |
Mr. A Manikandan |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Manikandan |
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Designation : |
Director |
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Name : |
Mr. Amar Nath |
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Designation : |
Customer Service |
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Name : |
Mr. B. Vincent Ramesh |
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Designation : |
Executive |
BUSINESS DETAILS
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Line of Business : |
Civil Contractors |
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Products : |
v Interior
Designing v Aluminium Works v Awnings And
Canopies v Building
Modeling v Carpets False
Ceiling v Glazing And
Curtan Walls v All Type Of Venation
Blinds v Neon Lit Trees v Netion, PVC Wall
Paneling v Renovation Jobs v Sun Control
Films v Vinyl
And Wooden Floorings. v Washable
Wall Papers v Indoor
Fountains v Wall
Posters v Non
- Wooven Carpets v PVC
Flooring v Vertical
And Venetin Blinds v Artifical
Flowers / Plants v Bedroom
And Modelor Kitchens v CCTV
servilliance system v Intranet
Security System v Smart
Card system v Dawn
dusk light system v Home
security system v Magnetic
door system v Hydrant
and fire security system v Sprinkler
system v Burgler
and alarm system v Fire
hose reel drums v Fire
and security devices v Industrial
and office interior electrical works v Electrical
panel v Transformer
v Generator
v UPS v Erection
and testing commisioning v Sewage
pipe works v Sump
works v Water
line pipe works v Industrial
and office interior pipe works v Industrial
and office interior and exterior paint works |
GENERAL
INFORMATION
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Customers: |
v
Hotel Sabari Inn v
Annamalai Engineering Corporation
Private Limited v
Agni Mineral Water Plant v
United Softwares v
National Institute of Ocean
Technologies v
Hyundai Motors Nature of Work : Interior,
Painting and carpenter Work v
Hyundai Motors India Ltd v
Wisdom Infotech v
Cetex v
Taj Groups v
Yurvitech v
Ceragem v
Sai Technologies |
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Bankers : |
Karur Vysya Bank, Chennai, Tamilnadu, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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20.000 |
LOCAL AGENCY
FURTHER INFORMATION
Profile:-
Subject is a designing concern that deals in the
design of offices , commercial and residential buildings with respect to Vastu
Shastra and interiors of all the residential and commercial projects. They are
specialist in designing offices, homes and showrooms and have done many of the
projects to the best of the satisfaction of the client.
They have a full fledge
team comprising of architects, civil engineer, electrical and air conditioning
engineer plumbing engineer, interior designer, Vastu consultant, commercial
artist and undertake all kinds of commercial and residential projects.
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.42.23. |
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UK Pound |
1 |
Rs.83.88 |
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Euro |
1 |
Rs.66.41 |
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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