MIRA
INFORM REPORT
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Report Date : |
03.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
INGRAM MICRO
INDIA PRIVATE LIMITED |
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Registered
Office : |
No. 12, SG Business
Center, New Hosur Road, Wilson Garden, Bangalore – 560027, Karnataka |
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Country : |
India |
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Financials (as
on) : |
30.03.2007 |
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Date of
Incorporation : |
16.04.1992 |
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Com. Reg. No.: |
08-13061 |
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CIN No.: [Company
Identification No.] |
U85110KA1992PTC013061 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRI00984E |
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Legal Form : |
Private Limited
Liability Company |
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Line of
Business : |
Distributor of Information
Technology Products and Services |
RATING &
COMMENTS
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MIRA’s Rating
: |
Aa |
RATING
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STATUS |
PROPOSED
CREDIT LINE |
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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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Maximum Credit
Limit : |
USD 3100000 |
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Status : |
Excellent |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established company having satisfactory track. Directors are reported as
experienced, respectable and resourceful businessmen. Their trade relations are
reported as fair. Payments are usually correct and as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. It can be
regarded as a promising business partner in a medium to long-run. |
LOCATIONS
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Registered
Office : |
No. 12, SG
Business Center, New Hosur Road, Wilson Garden, Bangalore – 560027,
Karnataka |
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Tel. No.: |
91-80-26575260 |
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Fax No.: |
91-80-26571735 |
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E-Mail : |
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Website : |
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Head Office : |
Gate 1A, Godrej
Industries Highway, Pircjshangar, Vikhroli (East), Mumbai – 400079 |
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Tel. No.: |
91-22-55960360-61
/ 66960246 |
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Fax No.: |
91-22-55960106 |
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Corporate
Office : |
No. 40, Ulsoor
Road, Bangalore – 560 042, Karnataka, INDIA |
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Tel. No.: |
91-80-2558 8323 /
3977 / 555 0605 / 0599 / 25583253 / 3977 / 4707 / 26575273 / 74 / 26575271 |
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Fax No.: |
91-80-2558 6872 |
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E-Mail : |
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Website : |
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Area : |
9000 sq.fts. (Rented) |
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Branch |
Located
at : v
Chadigarh v
Dehradun v
New Delhi v
Jaipur v
Lucknow v
Jammu v
Parwanoo v
Ludhiana v
Ahmedabad v
Baroda v
Bhopal v
Indore v
Surat v
Nagpur v
Mumbai v Pune v Raipur v
Goa v
Bhubaneshwar v
Kolkata v
Jamshedpur v
Ranchi v
Guwahati v
Bangalore v
Chennai v
Cochin v
Coimbatore v
Hubli v
Hyderabad v
Madurai v
Pondicherry v
Trivendrum v
Vishakapatnam |
DIRECTORS
|
Name : |
Mr. Laurence
Richard O’Laughlin |
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Designation : |
Director |
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Address : |
93, Holland Road,
No. 06 04, Hollandia, Singapore – 278537 |
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Date of
Birth/Age : |
29.04.1960 |
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Date of
Appointment : |
14.12.2001 |
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Name : |
Mr. Alain Monie |
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Designation : |
Director |
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Address : |
1, Lady Hill
Road, The Ladyhill, Singapore – 258670 |
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Date of
Birth/Age : |
14.01.1951 |
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Date of Appointment
: |
14.12.2004 |
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Name : |
Mr. Satya P.
Rajguru |
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Designation : |
Director |
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Address : |
6/11, Sarvapriya,
Vihar, New Delhi – 110020 |
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Date of
Birth/Age : |
21.02.1956 |
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Date of
Appointment : |
30.09.2003 |
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Name : |
Mr. Henri Theodorous
Koppen |
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Designation : |
Director |
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Name: |
Mr. Sean Leroy
Fort |
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Designation : |
Additional
Director |
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Name : |
Mr. Shanker
Baheria |
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Designation : |
Director |
KEY EXECUTIVE
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Name : |
Mr. Saravanan S |
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Designation : |
Company Sectary |
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Address : |
142/16, Kailash
Colony, Annanagar, Westext, Chennai – 600101 |
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Date of
Birth/Age : |
12.02.1958 |
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Date of
Appointment : |
01.07.1999 |
SHAREHOLDING
PATTERN
AS ON 31.08.2005
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Names of Shareholders |
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No. of Shares |
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Ingram Micro Asia Limited |
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271271 |
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Tech Pacific [India] Limited |
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38390 |
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Ingram Micro Asia Holdings |
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10 |
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Total |
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309671 |
AS ON 30.09.2006
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Equity Share Breakup
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Percentage of shares |
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Category |
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Foreign holdings [Foreign institutional investors, Foreign
Companies, Foreign Financial Institutions, Non-resident Indian or Overseas
corporate bodies or others] |
87.60 |
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Bodies Corporate |
12.40 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of
Business : |
Distributor of
Information Technology Products and Services |
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Product |
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Exports to : |
Malaysia,
Singapore, Far East |
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Imports from : |
USA/ Singapore/
Japan/ Taiwan/ UK/ Australia |
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Terms : |
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Selling : |
L/C at sight |
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Purchasing : |
L/C (45 days),
Credit (30-45 days) |
PRODUCTION STATUS
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Particulars |
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Installed Capacity |
Actual Production |
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Computer Systems |
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30000 |
22031 |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees
: |
1000 |
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Bankers : |
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Banking Relations : |
Satisfactory |
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Auditors : |
Price Waterhouse Chartered
Accountants |
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Address: |
252, Veer
Savarkar Marg, Shivaji Park, Dadar, Mumbau-400028, Maharashtra, India |
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Associates/Subsidiaries
: |
˜
Spectra
Innovations Inc., Sanjose, USA Tel. No. 408-9548474 Fax No. 408-9548399 ˜
Amspec (S)
Pte Limited, Singapore Tel. No. 65-2710016 Fax No. 65-2714112 Subsidiaries
v
Ingram Micro
(Components Asia) Pte Limited, Singapore v
Ingram Micro
(South Asia) Pte Limited, Singapore v
Ingram Micro
Malaysia SDN, BHD v
Tech Pacific
[India] Limited v
Ingram Micro
[India] Exports Pte Limited v
Ingram Micro
Asia Pacific Pte Limited |
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Holding
Company |
Ingram Micro Asia
Holdings Inc., USA Ingram Micro Asia
Limited, Singapore |
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Ultimate
Holding Company : |
Ingram Micro
Inc., USA |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
500,000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
309,671 |
Equity Shares |
Rs. 100/-
each |
Rs. 30.967 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2007 [15 Months] |
31.12.2005 |
31.12.2004 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
30.967 |
30.967 |
30.966 |
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2] Share Application
Money |
0.000 |
0.000 |
0.000 |
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3] Reserves &
Surplus |
745.534 |
209.301 |
132.309 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
776.501 |
240.268 |
163.275 |
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LOAN FUNDS |
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1] Secured Loans |
0.300 |
2.503 |
3.985 |
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2] Unsecured
Loans |
4370.055 |
3268.393 |
1774.069 |
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TOTAL BORROWING
|
4370.355 |
3270.896 |
1778.054 |
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DEFERRED TAX
LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL
|
5146.856 |
3511.164 |
1941.329 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
22.353 |
34.543 |
58.499 |
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Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
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INVESTMENT
|
0.000 |
0.000 |
0.005 |
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DEFERREX TAX ASSETS
|
162.052 |
78.472 |
39.507 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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4492.501
|
3651.957
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990.361
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Sundry Debtors
|
6155.697
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4835.954
|
1176.353
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Cash & Bank Balances
|
510.368
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453.270
|
118.902
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Other Current Assets
|
0.000
|
0.013
|
15.687
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Loans & Advances
|
864.783
|
402.844
|
219.506
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Total Current Assets
|
12023.349
|
9344.038
|
4251.830
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Less :
CURRENT LIABILITIES & PROVISIONS
|
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Current Liabilities & Provisions
|
6470.597
|
5818.472
|
1602.241
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Provision
|
590.301
|
127.417
|
39.422
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Total Current Liabilities
|
7060.898
|
5945.889
|
2408.512
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Net Current Assets
|
4962.451
|
3398.149
|
1843.318
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MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
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TOTAL
|
5146.856 |
3511.164 |
1941.329 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 [15 Months] |
31.12.2005 |
31.12.2004 |
|
|
Sales Turnover |
77760.455 |
39126.451 |
21117.159 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
77760.455 |
39126.451 |
21117.159 |
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Profit/(Loss) Before Tax
|
867.745 |
148.021 |
88.904 |
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Provision for Taxation
|
331.512 |
71.036 |
36.940 |
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Profit/(Loss) After Tax
|
536.233 |
76.985 |
51.964 |
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Export Value
|
451.438 |
41.060 |
19.746 |
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Import Value
|
25144.382 |
9866.421 |
6504.423 |
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Expenditure
|
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Financial Charges
|
496.991
|
183.421 |
88.152 |
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Depreciation
|
29.554
|
28.314 |
13.199 |
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Other Expenditure
|
76366.165 |
38766.695 |
20926.904 |
Total Expenditure
|
76892.710 |
38978.430 |
21028.255 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 [15 Months] |
31.12.2005 |
31.12.2004 |
PAT / Total Income
|
(%)
|
0.69
|
0.19
|
0.24 |
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Net Profit Margin
(PBT/Sales) |
(%) |
1.12
|
0.37
|
0.42 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
7.20
|
1.57
|
2.06 |
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Return on Investment (ROI)
(PBT/Networth) |
|
1.12
|
0.61
|
0.54 |
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Debt Equity Ratio
(Total
Liability/Networth) |
|
14.72
|
38.36
|
25.64 |
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|
Current Ratio
(Current
Asset/Current Liability) |
|
1.70
|
1.57
|
1.76 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY
The company was incorporated
on 16th April, 1992 under the name and style of “Spectra
Technologies Private Limited” at Bangalore in Karnataka. The name was changed as “Spectra Innovations
India Private Limited”, with effect from 24th January, 1995.
Subsequently, it was
converted into a deemed public limited company under section 43A(1), with
effect from 16th March, 1998.
The company’s name was changed
as “Electronics Resources India Limited” and again the company's name was
changed to “Ingram Micro India Limited”
with effect from 29th September, 1999.
Subject was
reconverted to Private Limited Liability Company during April 2002.
As a subsidiary of
Ingram Micro Inc., the largest global wholesale provider of technology products
and supply chain management services, subject brings to India the best of
business practices and state-of-the-art information systems in worldwide
distribution. With extensive market expertise in providing comprehensive
product lines from a single source, it is a leading wholesale provider of computer
components, systems, printers, peripherals, networking solutions, supplies and
accessories, application software, enterprise storage solutions and support
services.
As per the decision
taken by the Board of Directors in its meeting held on April 28, 2005 the
subject company decided to amalgamate itself with Tech Pacific [India] Limited,
registered at Mumbai, Maharashtra, India. Accordingly, the Scheme of
Amalgamation approved at the said board meeting was filed by the subject with
the Karnataka High Court for approval. The application is pending approval and
the procedural formalities in the regard as directed by the Karnataka High
Court are being completed.
The application
made by Tech Pacific [India] Limited [TPIL] seeking approval of the Scheme of
Amalgamation of the Company with TPIL was approved by the High Court at Mumbai
on 10th March 2006.
Fixed
assets
- Leasehold
land
- Plant &
machinery
- Computers
- Office
equipment
- Furniture
& fixtures
Form 8
Particular for creation or modification of charges
|
Name of the company |
INGRAM MICRO INDIA PRIVATE LIMITED |
|
Presented By |
ICICI Banking Corporation Limited,
3RD Floor, East Wing, Raheja Tower, 26-27, M G Road, Bangalore –
560001 |
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1) Date and description
of instrument creating the change |
24.10.1995 deed
of hypothecation, credit facility agreement
|
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 5.000
Millions |
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3) Short particular
of the property charged. If the property acquired is subject to charge, date
of the acquired of the property should be given |
Borrower entire
stocks of raw materials, semi finished goods, consumable stores, both present
and future belonging to or in the possession or under the control of the
borrower whether now lying loose after from time to time during the
continuance of these present factories, premises and Godown sited. Borrower
or in the course of transit or on high seas or order delivery, and such other
movables including book debts outstanding monies |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of Interest
–1.5% above ICICI Bank rate subject to a minimum 18.25% at quarterly rests.
Inters rate subject to modification from time to time Period of
sanction – 3 month Margin – 25% Repayment – on
demand Borrower shall
pay old interest, future interest. Agreement in the manner set out in the credit
facility agreement and shall duly observe and perform all the terms and
conditions of the credit facility agreement
|
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5) Name and
Address and description of the person entitled to the charge. |
ICICI
Banking Corporation Limited, 3RD Floor, East Wing, Raheja Tower,
26-27, M G Road, Bangalore – 560001 |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
|
Name of the company |
SPECTRA TECHNOLOGIES PRIVATE
LIMITED |
|
Presented By |
ICICI Banking Corporation Limited and
Spectra Technologies Private Limited |
|
1) Date and
description of instrument creating the change |
24.10.1995 deed
of hypothecation, credit facility agreement
|
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 5.000 Millions
|
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Borrower entire
stocks of raw materials, semi finished goods, consumable stores, both present
and future belonging to or in the possession or under the control of the
borrower whether now lying loose after from time to time during the
continuance of these present factories, premises and Godown sited. Borrower
or in the course of transit or on high seas or order delivery, and such other
movables including book debts outstanding monies |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of Interest
–1.5% above ICICI Bank rate subject to a minimum 18.25% at quarterly rests.
Inters rate subject to modification from time to time Period of
sanction – 3 month Margin – 25% Repayment – on
demand Borrower shall
pay old interest, future interest. Agreement in the manner set out in the credit
facility agreement and shall duly observe and perform all the terms and
conditions of the credit facility agreement
|
|
5) Name and
Address and description of the person entitled to the charge. |
ICICI
Banking Corporation Limited, 3RD Floor, East Wing, Raheja Tower,
26-27, M G Road, Bangalore – 560001 |
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
Distributors:
Trend Micro
Distributors
606-608. 6th
Floor, Balarama Building, Bandra Kurla Complex, Bandra (East), Mumbai – 400
051, Maharashtra
Telephone Number –
91-22-26590060
Fax Number –
91-22-26954682
Contact To Mr. Sunil Pillai
E-Mail – sunil.pp@ingrammicro.co.in
Website details
Attached:
Corporate
Profile:
Ingram Micro Inc. is the largest global wholesale provider
of technology products and supply chain management services. Ranked as No.76 in
the FORTUNE 500 2004 listing, the company operates in 37 countries with
approximately 13,600 associates and sales exceeding $25 billion for fiscal year
2004. Ingram Micro’s global regions provide the distribution of technology
products and services, market development services and supply chain management
services to nearly 170,000 technology solution providers and 1,700 manufacturers.
Ingram Micro is focused on maximizing shareowner value and achieving customer
satisfaction through innovation in the information technology (IT) supply
chain.
Leading
the Transformation of IT Distribution
With the dramatic changes driven by technology, companies
located throughout the IT supply chain are required to reevaluate their
business models to deliver maximum value to businesses and consumers.
Distributors, technology solution providers, retailers and IT manufacturers
have changed their business models to add value with innovative services and
offerings that drive costs out. Distributors that remain successful in this
industry have large scale and volume, global coverage, unparalleled standards
and accuracy for logistics services, as well as financial strength to support
growth and remain competitive. Ingram Micro is committed to transforming the
value proposition for technology distribution and is the leading company in
this industry. Innovation is the key differentiator between Ingram Micro and
other IT distribution companies. The company’s management team is focused on
leading the industry through change and has a clear understanding of customer
expectations. Ingram Micro leads the industry in creating new market
opportunities with new and emerging technologies and value-added services.
These new opportunities have changed the way that solution providers offer
value to their end-user customers, making them more competitive in the
marketplace. Ingram Micro continues to demonstrate that it is the most
effective partner to
reach the global technology market.
Building
Long-term Value for Customers
Ingram Micro offers more than 280,000 products (as measured
by distinct part numbers assigned by manufacturers and other suppliers) with inventory
from 1,700 technology manufacturers and leading PC suppliers to its 170,000
technology solution provider customers. Ingram Micro is also a service
powerhouse delivering logistics and supply chain management services to
increase value and drive efficiency for companies at all levels of the IT
supply chain. For technology solution providers, Ingram Micro’s specialized
divisions offer customers technical expertise and a well-informed sales support
staff trained to handle the needs of market categories such as enterprise
computing, converging technologies, small-to-mid-size businesses (SMB), and the
government and education sectors. The company has developed services and
solutions designed to address the needs of each technology category and market
segment, with expert services to support customers serving vertical and
specialty markets.
About
IM-Logistics
Established
in June 2000 as a division of Ingram Micro U.S., IM-Logistics provides
end-to-end order fulfillment, logistics and supply chain solutions to
manufacturers, retailers and e-tailers of technology and consumer electronics
products. IM-Logistics leverages Ingram Micro's 20-year track record in order
management and fulfillment to drive efficiency in the supply chain and ensure
companies can meet customer demand effectively. As the logistics engine behind
Ingram Micro, the division achieves a better than 99 percent accuracy for order
deliveries. IM-Logistics U.S. also leverages Ingram Micro’s warehouse space in
the United States for its industry-leading distribution and reverse logistics
network, which offers one- or two-day ground coverage to 99 percent of the
United States. Finally, a key offering increasing long-term value for customers
at all levels is Ingram Micro’s e-commerce initiatives, which are enabling the
IT supply chain to conduct business more efficiently. The company has developed
e-commerce tools, such as real-time, online order management and tracking, and
community-based Web sites delivering e-Procurement capabilities to technology
solution providers and buyers in the SMB, and the government and education
sectors.
Ingram Micro Inc. Statistics
Customers:
Ingram Micro sells to nearly 170,000 technology solution
providers in more than 100 countries. The company specializes in three market
segments: commercial, consumer and value-added resellers (VARs). Each segment
comprises a variety of customer groups; examples include:
- Corporate Resellers - Corporate technology solution providers
- Direct and Consumer Marketers - Direct marketers, computer superstores,
mass merchants, Internet storefronts, consumer electronics and office
supply stores
- Value Added Resellers - System and Web integrators, application
VARs, and government and education VARs
As reported in Ingram Micro’s 2001 10-K, no single customer
represented more than 4 percent of Ingram Micro’s net sales in 2001, 2000, or
1999. The company conducts business with most of the leading resellers of
computer-based technology products around the world.
Vendors:
More than 1,700 hardware manufacturers and software
publishers utilize Ingram Micro as their distribution partner. The
distributor’s worldwide supplier list includes almost all of the leading
microcomputer hardware manufacturers, networking equipment manufacturers and
software publishers.
- Top vendors include Adobe, Apple ,Autodesk, APC, Cisco,
Computer Associates, Epson, HP, HCL, IBM, Intel, Iomega, Lenovo,
Microsoft, Palm, Quantum, Maxtor, Macromedia, Seagate, Sony
Ericsson, Symantec, Veritas, Western Digital, Xerox, and 3Com.
Product Offering:
Ingram Micro and its subsidiaries market and distribute more
than 280,000 products - the largest product offering available in the industry.
The company markets computer hardware, networking equipment, and software
products from over 1700 suppliers, including desktop and notebook personal
computers, servers and workstations, personal digital assistants, wireless
devices, mass storage devices, CD-ROM, CD-RW and DVD drives, monitors,
printers, scanners, modems, networking hubs, routers and switches, network
interface cards, components, business applications software, entertainment
software, consumer electronics, and computer supplies and accessories.
Ingram Micro India Pvt. Limited is a
subsidiary of Ingram Micro Inc., USA. Established in 1989, IMIPL today is the
No: 1 IT Distribution company with nationwide presence at 30+ locations.
They have extensive market expertise in providing a
comprehensive product line from a single source. They enjoy an excellent reputation
and market credibility as a leading wholesale provider of Computer Systems
& Components, Peripherals and Printers, Networking Solutions, Computer
Storage Systems, Supplies and Accessories, Application Software and Support
Services. As a subsidiary of Ingram Micro worldwide they bring to India the
best of business practices and they state-of-the-art information systems in
worldwide distribution. They are committed to be the best wholesale provider of
IT products and services in India providing real value to they customers and
principals.
Awards and Achievements:
·
Premerger Tech
Pacific India Wins IBM Partner World Beacon Award
- IT
Association Recognition for Ingram Micro
- Cisco
Recognises Ingram Micro
- Award for
Premerger Tech Pacific, Chennai from IBM
- HP Award for
Premerger Tech Pacific, Chennai
- HP
Recognition for Premerger Tech Pacific, Pune
Asia
pacific presence of subject
With 50
offices in 10 Asian Countries China Taiwan, Thailand, India, Malaysia,
Indonesia, Australia, New Zealand, Hong Kong and Singapore subject works with
partners.
Subject
has managed to established strong network of resellers in the Coupled with the
breadth of and Impulse system capability distribute more products countries
with greater efficiency companies attribute their success quality and
commitment of them and it is no exceptional across the region, it has closely
associates with a good youthfulness and experience. Share a common set of
values objectives and are led by management team towards a goal-to-make subject
as IT distributor in Aisan Pacific.
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.40.65 |
|
UK Pound |
1 |
Rs.80.35 |
|
Euro |
1 |
Rs.62.78 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
8 |
|
OPERATING SCALE |
1~10 |
9 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
10 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
79 |
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/normal. |
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 |
|