MIRA
INFORM REPORT
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Report Date : |
13.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
OYSTER INTERNATIONAL |
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Registered Office : |
31, L R Layout, 1st Street, kongunagar Extension, Tirupur –
641 607, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2007 |
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IEC No.: |
3207022111 |
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TIN No.: |
33322083621 |
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PAN No.: [Permanent
Account No.] |
AMDPG6054N |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Knitted Garments. |
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 Concern |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern. It is faring well and expected to do well in
first full year. Trade relations are fair. Payments are usually correct and
as per commitments. Subject can be considered normal for business dealings with slight
caution. |
INFORMATION PARTED
BY
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Name : |
Mr. Gowri Sankar |
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Designation : |
Proprietor |
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Contact No.: |
91-9994445006 |
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Date : |
09.09.2008 |
LOCATIONS
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Registered Office : |
31, L R Layout, 1st Street, kongunagar Extension, Tirupur –
641 607, Tamilnadu, India |
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Tel. No.: |
91-421-3245006 |
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Mobile No.: |
91-9994445006 |
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E-Mail : |
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Website : |
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Area : |
800 Sq. ft. |
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Location : |
Rented |
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Factory : |
SFT No. 330/1, Palladam Road, Gokul Krishna Nagar, Veera Pandi,
Tirupur – 641 607, Tamilnadu, India |
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Area : |
300 Sq. ft. |
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Location : |
Rented |
PROPRIETOR
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Name : |
Mr. Gowri Sankar |
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Designation : |
Proprietor |
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Address : |
15/353, Naicken Thottam, Srinivasapuram Street, Avinashi, Tirupur –
641 607, Tamilnadu, India |
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Date of Birth/Age : |
23 Years |
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Qualification : |
B.E. |
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Experience : |
4 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Knitted Garments. |
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Products : |
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Brand Name : |
v Finicky Fashionz |
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Exports : |
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Products : |
v Knitted Garments |
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Countries : |
v Denmark v USA v Europe |
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Terms : |
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Selling : |
L/C, Telegraphic Transfer |
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Purchasing : |
Cash and Credit (15 – 30 days) |
GENERAL
INFORMATION
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Customers : |
v Wholesalers v Importer v Sporthill, USA v Alister and
Ruby, USA v T- Shirt,
Denmark |
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No. of Employees : |
Total : 78 (Office: 8, Factory : 70) |
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Bankers : |
v Bank of India Avinishi Branch, Tirupur – 641 607, Tamilnadu, India |
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Facilities : |
[The concern reported to enjoy some facilities from its bankers] |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Palani Swamy and Company Chartered Accountants |
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Address : |
Tirupur – 641 607, Tamilnadu, India |
CAPITAL STRUCTURE
Not Available
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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2.000 |
Expected Sales (2008-09): Rs. 20.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Sports Hill
v
Alister and Rubby
Trust Seal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
Finicky Fashionz |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship |
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Income Tax Registration |
AMDPG6054N FT001 |
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VAT/ TIN Registration |
33322083621 |
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Import Export Code |
3207022111 |
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Name of Bank |
Bank of India |
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Current Account Number |
82192011000008 |
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Account Since |
2007 |
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 concern is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
The 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.
The 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. 45.77 |
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UK Pound |
1 |
Rs. 80.67 |
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Euro |
1 |
Rs. 64.20 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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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35 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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