MIRA
INFORM REPORT
|
Report Date : |
06.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NOKIA SIEMENS NETWORKS INDIA PRIVATE LIMITED |
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Formerly Known As : |
SIEMENS PUBLIC COMMUNICATION NETWORKS PRIVATE LIMITED |
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Registered Office : |
10th Floor, Raheja Towers 26-27, M G Road, Bangalore – 560
001, Karnataka |
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Country : |
India |
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Financials (as on) : |
30.09.2006 |
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Date of Incorporation : |
17.12.1993 |
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Com. Reg. No.: |
08-15044 |
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CIN No.: [Company
Identification No.] |
U85110KA1993PTC015044 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS02631G |
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PAN No.: [Permanent
Account No.] |
AABCS9839H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provider of Communication Services |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
USD 5000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having fine track.
Available information indicates high financial responsibility of the company and
its management. Trade relations are fair. Business is active. Payments are
reputed as usually correct and as per commitments. The company can be considered goods for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
10th Floor, Raheja Towers 26-27, M G Road, Bangalore – 560
001, Karnataka, India |
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Tel. No.: |
91-80-25594067 |
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Fax No.: |
91-80-25594369 |
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E-Mail : |
DIRECTORS
|
Name : |
Mr. Juergen Schubert |
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Designation : |
Director |
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Address : |
12th Floor, Vastu Dr. R G Thadani Road, Worli, Mumbai – 400
025, Maharashtra, India |
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Date of Birth/Age : |
07.05.1947 |
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Date of Appointment : |
18.09.1996 |
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Name : |
Mr. Michael Kuehner |
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Designation : |
Managing Director |
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Address : |
3/11, Shanti Niketan, Ground Floor, New Delhi – 110 021, Delhi, India |
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Date of Birth/Age : |
15.02.1952 |
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Date of Appointment : |
01.11.2006 |
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Name : |
Mr. Johannes Meyer-Seipp |
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Designation : |
Whole Time Director |
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Address : |
Sumeet Chopra Farm, Village Mehrauli Tehsil, Mehrauli, New Delhi – 110
070, Delhi, India |
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Date of Birth/Age : |
16.01.1954 |
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Date of Appointment : |
13.11.1998 |
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|
Name : |
Mr. Dilip Kumar Ghosh |
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Designation : |
Whole Time Director |
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Address : |
S-439 Greater Kailash II, New Delhi – 110 019, India |
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Date of Birth/Age : |
14.02.1943 |
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Date of Appointment : |
01.05.1997 |
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|
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|
Name : |
Mr. Manfred Grenzhaeuser |
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Designation : |
Whole Time Director |
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Address : |
No.413, 2nd Cross, 16th Main, 3rd
Block, Koramangale, Bangalore – 560 034, Karnataka, India |
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Date of Birth/Age : |
16.11.1943 |
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Date of Appointment : |
01.01.2003 |
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Name : |
Mr. Thorsten Heins |
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Designation : |
Director |
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Address : |
Penzberg Inder AU 18, Munich – 82377, Germany |
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Date of Birth/Age : |
29.12.1957 |
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Date of Appointment : |
16.06.2006 |
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Name : |
Mr. Anton Hendrik Schaaf |
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Designation : |
Director |
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Address : |
Gleissental STR – II, Grossdingharting, Munich – 82064, Germany |
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Date of Birth/Age : |
07.02.1954 |
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Date of Appointment : |
13.07.2004 |
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Name : |
Mr. Antesz Marcus Thomas |
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Designation : |
Director |
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Address : |
A-1604, Suasana Sentral Condominium, 2 Jalanstesen, Sentrals,
Kualalumpur – 50470, Malaysia |
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Date of Birth/Age : |
15.04.1967 |
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Date of Appointment : |
01.04.2004 |
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Name : |
Mr. Hans Juergen Bill |
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Designation : |
Director |
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Address : |
Rettenberger WEG 31, Stanberg, Munich – 82319, Germany |
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Date of Birth/Age : |
18.05.1960 |
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Date of Appointment : |
10.12.2003 |
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|
Name : |
Mr. Hueseyin Gelis |
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Designation : |
Director |
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Address : |
C-29/30, Prithvi Apartments, Altamount Road, Mumbai – 400 026,
Maharashtra, India |
|
Date of Birth/Age : |
15.02.1952 |
|
Date of Appointment : |
01.10.2005 |
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|
Name : |
Mr. Werner Josef Schachermeier |
|
Designation : |
Director |
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Address : |
Esskay Farm, Chattarpur Gardens, Sultanpur Mehrauli, New Delhi – 110
030, India |
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Date of Birth/Age : |
26.10.1947 |
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Date of Appointment : |
12.11.2002 |
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|
Name : |
Mrs. Gerlinde Sturm |
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Designation : |
Whole Time Director |
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Address : |
Plot 484-485, Phase III, Sector 20, Udyog Vihar, Gurgaon – 122 016,
Haryana, India |
|
Date of Birth/Age : |
05.03.1963 |
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Date of Appointment : |
01.07.2007 |
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|
|
Name : |
Mr. Patrick Deroyer |
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Designation : |
Director |
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Date of Birth/Age : |
25.01.1951 |
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Date of Appointment : |
01.02.2006 |
KEY EXECUTIVES
|
Name : |
Mr. Partha Kamal Sen |
|
Designation : |
Secretary |
|
Address : |
Flat No. 801, Brook Tower, Hiland Park, Kolkata – 700 094, West
Bengal, India |
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Date of Birth/Age : |
26.07.1958 |
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Date of Appointment : |
16.04.1997 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
|
Names of Shareholders |
No. of Shares |
|
Siemens Limited |
12424990 |
|
A P Jangid |
10 |
|
|
|
|
Total |
12425000 |
Equity shares Breakup (percentage of total equity)
(As on 27.06.2008)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provider of Communication Services |
GENERAL
INFORMATION
|
Bankers : |
Not Divulged |
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Banking
Relations : |
- |
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|
|
Auditors : |
|
|
Name : |
Mr. Akhil Bansal Chartered Accountants |
|
Address : |
BSR and Company 4B DLF Corporate Park, DLF City Phase III, Haryana – 122 002, India |
|
Tel No.: |
91-124-2549191 |
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Fax No.: |
91-124-2549101 |
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|
|
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Holding Company : |
Siemens Limited |
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|
|
|
Ultimate Holding Company : |
Siemens AG, Germany |
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|
|
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Fellow Subsidiaries : |
·
Seabridge Limited, Israel ·
Siemens Area NV, Belgium ·
Siemens Business Services, Munich ·
Siemens Pte Limited, Singapore ·
Siemens Financial Services Hong Kong ·
Siemens Limited, Australia ·
Siemens Norge, Norway ·
Siemens VDO Automotive Limited ·
Siemens Shared Services ·
Siemens Limited, Malaysia ·
Siemens Multimedia, Malaysia ·
Siemens Limited, Thailand ·
Siemens Mobile Communication, S.p.A., Italy ·
Siemens S.A., Belgium ·
Siemens Telecommunication Systems Limited, Taiwan ·
Siemens Information Systems Limited, India ·
Dasan Networks Inc., Korea ·
Siemens SPA, Warszaw ·
Fujitsu Computers, Augsburg ·
Siemens Communication Networks Limited, China ·
Siemens, Indonesia ·
Siemens Home and Office Communication Devices GmbH and Company, Germany ·
Osram India Private Limited, India |
CAPITAL STRUCTURE
(As on 27.06.2008)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12425000 |
Equity Shares |
Rs.10/- each |
Rs.124.250 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
30.09.2006 |
30.09.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
124.250 |
124.250 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
882.298 |
958.720 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1006.548 |
1082.970 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
19.485 |
33.448 |
|
|
2] Unsecured Loans |
|
575.000 |
900.000 |
|
|
TOTAL BORROWING |
|
594.485 |
933.448 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1601.033 |
2016.418 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
412.984 |
442.459 |
|
|
Capital work-in-progress |
|
13.495 |
18.664 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
142.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
580.653 |
409.948 |
|
|
Sundry Debtors |
|
2272.458 |
2335.502 |
|
|
Cash & Bank Balances |
|
169.810 |
237.646 |
|
|
Other Current Assets |
|
0.000 |
96.000 |
|
|
Loans & Advances |
|
692.996 |
405.927 |
|
Total
Current Assets |
|
3715.917 |
3485.023 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
1967.564 |
1406.339 |
|
|
Provisions |
|
715.799 |
523.389 |
|
Total
Current Liabilities |
|
2683.363 |
1929.728 |
|
|
Net Current Assets |
|
1032.554 |
1555.295 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1601.033 |
2016.418 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
30.09.2006 |
30.09.2005 |
|
|
Sales Turnover |
|
6190.030 |
4775.770 |
|
|
Other Income |
|
232.740 |
380.040 |
|
|
Total Income |
|
6422.770 |
5155.810 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
352.720 |
398.460 |
|
|
Provision for Taxation |
|
157.390 |
122.760 |
|
|
Profit/(Loss) After Tax |
|
195.330 |
275.700 |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
|
|
|
|
Export of Telecom Software |
|
1277.730 |
1065.270 |
|
|
Commission |
|
98.060 |
133.660 |
|
|
Installation, Commissioning & Other Services |
|
78.180 |
55.780 |
|
|
Telecom Equipments |
|
11.650 |
70.890 |
|
|
Others |
|
273.580 |
229.060 |
|
|
Total Earnings |
|
1739.200 |
1554.660 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
Raw Materials |
|
2093.380 |
1880.590 |
|
|
Stores & Spares |
|
245.640 |
131.880 |
|
|
Capital Goods |
|
171.160 |
220.690 |
|
|
Total Imports |
|
2510.180 |
2233.160 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial charges |
|
86.170 |
38.700 |
|
|
Depreciation & Amortization |
|
157.240 |
146.900 |
|
|
Other Expenditure |
|
5826.640 |
4571.750 |
|
Total Expenditure |
|
6070.050 |
4757.350 |
|
KEY RATIOS
|
PARTICULARS |
|
|
30.09.2006 |
30.09.2005 |
|
PAT / Total Income |
(%) |
|
3.04 |
5.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
5.70 |
8.34 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
8.54 |
10.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.35 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
3.26 |
2.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.38 |
1.81 |
LOCAL AGENCY
FURTHER INFORMATION
NOTE:
The Company was
originally incorporated on December 7, 1997 as “Siemens Communications Software
Limited” and changed into “Siemens Public Communication Networks Private
Limited”. Subsequently the subject has
further changed to its present name as “Nokia Siemens Networks India Private
Limited” with effect from May 7, 2007 as per registry records.
PRESS RELEASE
Nokia Siemens Networks Expands its
Multimedia Services for Telecom Operators with OnMobile’s ring back tone
solution
Nokia Siemens Networks announced a global cooperation agreement with India's OnMobile. The partnership covers the integration and marketing of OnMobile's market leading ring back tone solution into its music to you (M2Y) download platform.
Downloadable ring back tones (RBTs) are becoming increasingly popular. Instead
of hearing the traditional dial tone, RBTs allow callers to listen to a song
previously chosen by the owner of the mobile device whose number was dialed.
Nokia Siemens Networks adds OnMobile's ring back tone solution to their music
portfolio offerings and M2Y download platform. With M2Y telecom operators may
offer multimedia content to their end-customers such as music and video
downloads. M2Y is a managed hosting service, i.e. Nokia Siemens Networks not
only provides the technology but also fully operates it.
Patrik Sallner, Head of the hosting business at Nokia Siemens Networks
comments: "Internet providers and mobile operators in Europe, India and
Australia currently use our M2Y service, allowing them to focus fully on their
end customers and not have to struggle with complex technical questions
relating to the topic of downloading."
Mr. Arvind Rao, CEO and Co-founder of OnMobile, remarks: "OnMobile's
expansion from its home Indian market across the region into countries such as Australia,
Singapore, Indonesia, Sri Lanka and Pakistan has met with great success - our
telecom operator clients are enjoying 8-9% uplifts in their average revenue per
user and 10-23% market adoption rates with our RBT managed services. Now, with
Nokia Siemens Networks as our partner we are looking to replicate these
successes on a global scale and to develop a long term partnership based on our
proven capability to deliver an innovative and feature rich product range to
international market places."
One of the key challenges mobile operators are facing on a global scale is to
create and successfully market mobile applications to counter-balance the trend
in reclining average revenues per user from voice and messaging. Nokia Siemens
Networks responds to these customer needs by assembling a services portfolio
that addresses the key challenges for operators looking for growth
opportunities in the years to come.
Nokia Siemens Networks to Showcase Global
Multi-vendor Interoperability with GMI 2008
At a time when global interoperability and open
standards are of utmost importance to the advancement of information and
communications technology, Nokia Siemens Networks will be among the
telecommunications leaders participating in the latest Global MultiService Interoperability
(GMI) 2008 during October 20 - 31.
As a founding member of the MultiService Forum
(MSF), Nokia Siemens Networks will participate, in the MSF GMI, a worldwide
interoperability test event for next generation networks. Nokia Siemens
Networks will test its market-leading IP Multimedia Subsystems (IMS) based on
open standards to foster multi-vendor interoperability readiness.
Since its participation in GMI 2006, Nokia Siemens
Networks has made significant progress in enhancing its IMS core application
layer and quality of service to support IMS inter-working with different
multimedia applications.
“Nokia Siemens Networks has long been a forerunner
in open standards, and we believe strongly in the objective of GMI 2008 to
improve interoperability among next generation network elements,” said Jürgen
Walter, Global Head of Converged Core, Nokia Siemens Networks. “We look forward
to this year’s testing, particularly the addition of IMS inter-working with
applications like IPTV that demonstrate the readiness of our IMS for next
generation data-rich application deployments in true multi-vendor
environments.”
The GMI 2008 multi-vendor test configurations will
include the CFX-5000, CMS-8200 and PCS-5000, all market leading IMS-components
from Nokia Siemens Networks. The Nokia Siemens Networks equipment will be used
in a test site hosted by Verizon, and linked by VPN/IPsec tunnels to four other
sites in North America, the United Kingdom and China.
According to Gartner's July 2008 Dataquest Market Statistics
on IMS, Nokia Siemens Networks was one of the worldwide leaders in IMS contract
and trial announcements looking at the fixed/cable/hybrid space in 4Q 2007 and
overall 2007.
About GMI 2008
GMI 2008 – the Global MSF Interoperability event –
will link major carrier, government, and academic labs on three continents in a
major demonstration of multi-vendor interoperability between a significant
number of NGN elements supporting Implementation Agreements developed in
support of the MSF Release 4 Architecture and practical deployment scenarios of
interest to major carriers.
About
Nokia Siemens Networks
Nokia Siemens Networks is a leading global enabler
of communications services. The company provides a complete, well-balanced
product portfolio of mobile and fixed network infrastructure solutions and
addresses the growing demand for services with 20,000 service professionals
worldwide. Nokia Siemens Networks is one of the largest telecommunications
infrastructure companies with operations in 150 countries. The company is
headquartered in Espoo, Finland. www.nokiasiemensnetworks.com
Media
Enquiries
Nokia Siemens Networks
Chantal Boeckman
Phone: 972-374-0129
E-mail: chantal.boeckman@nsn.com
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.44.37 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.63.41 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
67 |
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. |
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 |
|