MIRA
INFORM REPORT
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Report Date : |
15.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
JAMASUZ TRADERS |
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Registered Office : |
19/1, Wellington Street, Richmond Town, Bangalore-560025, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2006 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader and Exporter of High Quality Leather goods, Silk, Rubber, Spices
and Fruits |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small moderate concern. Trade relations are fair. Payments
are reported as slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Jameelish |
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Designation : |
Proprietor |
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Contact No.: |
91-9844165225 |
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Date : |
12.11.2008 |
LOCATIONS
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Registered Office : |
19/1, Wellington Street, Richmond Town, Bangalore-560025, Karnataka,
India |
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Tel. No.: |
91-80-22113188 |
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Mobile No.: |
91-9844165225 |
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E-Mail : |
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Website : |
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Area : |
+500 sq.ft (Owned) |
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Corporate Office : |
40/1, Wellington Street, Richmond Town, Bangalore-560025, Karnataka,
India |
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Tel. No.: |
91-80-41479989/ 22243782 |
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Fax No.: |
91-80-22113188 |
SOLE PROPRIETOR
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Name : |
Mr. Jameelish Shiem |
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Designation : |
Proprietor |
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Date of Birth/Age : |
25 Years |
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Qualification : |
English Literature |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporter of High Quality Leather goods, Silk, Rubber,
Spices and Fruits |
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Products : |
Leather Goods
and Accessories ·
Leather Waste ·
Cut Pieces Other Products ·
Silk ·
Rubber ·
Fruits and Vegetables ·
Sea Food ·
Dry Fruits ·
Spices ·
Meat (Mutton and Beef only0 ·
Granite |
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Exports : |
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Products : |
Dry Fruits and Cotton Seeds |
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Countries : |
·
USA ·
UAE ·
Australia ·
European Countries |
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Imports : |
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Countries : |
Turkey and Malaysia |
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Terms : |
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Selling : |
L/C, CAD (Cash Against Document) |
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Purchasing : |
Cash and Credit ( 30 Days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
8 |
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Bankers : |
ICICI Bank, Richmond Town Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A S P N Associates Chartered Accountant |
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Address : |
Malleshwarm, Bangalore |
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Associates/Subsidiaries : |
Ahsan Associates Address: 19/1, Wellington Street, Richmond Town, Bangalore-560025,
Karnataka, India Line of Business: Manufacturer of Quality Leather |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Million (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 Million (Estimated) |
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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10.000 |
Expected Sales (2008-09) : Rs. More than 20.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
·
Kasseca Shoes, Istangul
AS PER WEBSITE
Profile:
They, Jamasuz Traders, introduce
themselves as a distinguished trader
and exporter
offering plethora of products at amazingly economical prices. The range of
products includes all
leather goods and accessories including leather waste, silk, rubber,
fruits, dry fruits, spices, vegetables, sea food, mutton/ beef meat, granite,
etc. The company is also engaged in the import of rubberized steel roller used in
various industrial sectors such as textile, paper and pulp, iron and steel,
leather and artificial leather industry. The other import articles include
Turkish Carpets. They are also the franchise holder for Moss Dome Leather Shoes, the shoes
known for high quality genuine leather, comfort and elegance. All the products
are procured from known and authentic suppliers of the market.
They follow hard core professionalism in every sphere of the operations
in order to deliver the best products and services to the valued clients. The
sincere approach towards client satisfaction provides them a leading edge over
other players operating in the similar arena. They are regularly exporting the
products to many countries of the world including USA, UAE, Australia and
European countries, while the import markets are centered in Turkey and
Malaysia
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
|
Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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45 |
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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