MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIXON ASIA PACIFIC PRIVATE LIMITED |
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Registered Office : |
Whiz Impex, 404, Manish Chambers, 4th Floor, Sonawala Lane,
Goregaon (East), Mumbai – 400 063, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
13.02.2007 |
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Com. Reg. No.: |
167797 |
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CIN No.: [Company
Identification No.] |
U51909MH2007FTC167797 |
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IEC No.: |
0308007417 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD16126F |
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PAN No.: [Permanent
Account No.] |
AACCD5446L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Air fittings, cam and groove couplings,
couplings / clamps, boss / coupling system, quick release couplings, ball
joint armoured hose, petroleum tanker |
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 : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of Dixon Valve and Coupling Company, USA. Subject
is a new company and yet to establish track. Trade relations are fair.
Payments are unknown. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajesh Iyer |
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Designation : |
Country Manager |
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Contact No.: |
91-9867637556 |
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Date : |
03.11.2008 |
LOCATIONS
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Registered Office : |
Whiz Impex, 404, Manish Chambers, 4th Floor, Sonawala Lane,
Goregaon (East), Mumbai – 400 063, Maharashtra, India |
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Tel. No.: |
91-22-2686522 |
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E-Mail : |
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Website : |
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Corporate Office : |
11, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai – 400 063,
Maharashtra, India |
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Tel. No.: |
91-22-40931555 / 26862226 |
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Fax No.: |
91-22-26854748 |
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E-Mail : |
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Area : |
700 Sq. ft. |
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Location : |
Leased |
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Warehouse : |
Chamunda Complex, Thane-Bhiwandi Road, Thane – 421 302, Maharashtra,
India |
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Mobile No.: |
91-9923004675 |
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Area : |
10000 Sq. ft. |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Simon Peter Tape |
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Designation : |
Additional Director |
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Address : |
1/1, Burns Street, Glenelg North, Adelaide – 5045 |
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Date of Birth/Age : |
19.04.1972 |
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Experience : |
16 Years |
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Date of Appointment : |
02.05.2008 |
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Name : |
Mr. James Francis Canalichio |
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Designation : |
Director |
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Address : |
713, Green Winged Trail, Wyoming, US 19934 |
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Date of Birth/Age : |
04.01.1945 |
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Experience : |
45 Years |
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Name : |
Mr. Louis Farana |
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Designation : |
Director |
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Address : |
Bethany Beach, P.O. Box 184, Delaware, US 19930 |
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Date of Birth/Age : |
20.06.1941 |
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Experience : |
48 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Air fittings, cam and groove couplings,
couplings / clamps, boss / coupling system, quick release couplings, ball
joint armoured hose, petroleum tanker |
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Products : |
·
Air Fittings ·
Cam and Groove Couplings ·
Suction / Delivery Couplings and Hose Clamps ·
Rubber Hose
/ PVC Hose / Layflat Hose ·
Bottom
Loading System For Petroleum Tankers ·
Food and
Beverage Fitting and Clamp ·
Dry Disconnect Coupling and Swivel Joint |
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Agencies Held : |
Mann Technik Sweden |
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Imports : |
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Products : |
·
Hose Coupling ·
Dry Disconnects ·
Bottom Coading Systems ·
API Fitting |
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Countries : |
·
USA ·
UK ·
Sweden |
GENERAL
INFORMATION
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Customers : |
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End Users ·
OEM’s ·
Oil and Gas |
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No. of Employees : |
2 |
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Bankers : |
Citi Bank, Goregaon (East) Branch |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
FINANCIAL DATA
Not Available
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement of Indiamart for
Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: -- |
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VAT : 27680660726V dated 05.06.2008 |
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IEC Code : 0308007417 |
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PAN / TAN : AACCD5446L |
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Bank Name : Citi Bank |
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Bank Address : Goregaon (East) Branch |
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Bank A/c. No.: 343099002 |
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Account Since : 2 Years |
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In case of any affiliations / memberships / certifications : |
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Name : -- |
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Type : -- |
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Expiry Date : -- |
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Web Details
Profile
Subject is a wholly owned subsidiary of Dixon Valve and Coupling Company
– USA and is headquartered in Mumbai, India. Subject India’s operations covers the
regions of India, Sri Lanka, Pakistan, Nepal, Bhutan, Bangladesh, Myanmar,
Maldives, Mauritius and Andaman and Nicobar Islands. Subject India now offers
customers in the South Asia region, its high quality hose and coupling products
backed up by its almost a 100 years of knowledge and experience in the hose and
coupling industry to distributors / end users. Subject, offers a unique one
stop shop facility for hose and coupling distributors and assemblers. Subject’s
warehouse on the outskirts of Mumbai will offer its globally recognized brands
like Boss, Air King, Holedall, Andrews, Ez-Boss Lock, Minsup, Surelock, etc. to
customers across a wide range of industries like oil and gas, petroleum
refineries, mining, OEMs, chemical industries, construction, material handling,
irrigation, etc. The range of products include food and beverage fitting and clamp, rubber hose, PVC hose, air fitting,
cam and groove coupling, quick release coupling and petroleum tanker
product, layflat hose, PVC hose, dry disconnect coupling, swivel joint, hose
clamp and accessory.
History
Subject’s history can be traced back to 1887, when at the very young age
of 15, Howard W. Goodall quit school to work at a Philadelphia rubber
distributor, Latta and Mulconroy. An inherent tinkerer, Goodall soon developed
a range of couplings which could be sold as an accessory to their hose line.
This resulted in a successful and profitable new business for Latta and
Mulconroy Company. Later, H.W. Goodall with the blessings of Mr. Mulconroy,
founded the Goodall Rubber Company and also started the Knox Manufacturing
Company in order to manufacture couplings and clamps. The Dixon Valve and
Coupling Company was founded on March 21st 1916 by Mr. H.W. Goodall. Mr. H.W.
Goodall passed away in 1951 and his son R.B. Goodall became the President and
Chief Operating Officer of the Company. Subject continued to grow and prosper
under his leadership.
Through the 1960s, and 70s, Dixon continued to grow by adding branch locations
through the United States. In 1976, Subject moved from its facilities at 2nd
and Columbia in Philadelphia to historic Chestertown, Maryland which still
serves as subject’s global headquarters till date. Mr. R. B. Goodall passed
away in 1994 and his son Mr. R. L. Goodall took over as President and Chief
Operating Officer. Subject today is a fast growing international company, with
global offices / manufacturing facilities in USA, Canada, Mexico, UK, Germany,
Australia, India, China and Russia. Subject is committed to maintaining its
role as a leading innovator in the hose and coupling industry.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.62 |
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UK Pound |
1 |
Rs.76.71 |
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Euro |
1 |
Rs.61.30 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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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 |
YES |
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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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28 |
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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