1. Summary Information
|
|
|
Country |
|
|
Company Name |
Coam Engineering
Private Limited |
Principal Name 1 |
Mr. Jisun Kang |
|
Status |
Moderate |
Principal Name 2 |
Mr. Seung Hee Choi |
|
|
|
Registration # |
18-63852 |
|
Street Address |
Village No. 38,
Old No. 345, New No. 82, Thiruvallur High Road, Thirumazhisai, Chennai – 600
124, Tamil Nadu, India |
||
|
Established Date |
07.06.2007 |
SIC Code |
-- |
|
Telephone# |
91-44-28235297 |
Business Style 1 |
Manufacturing |
|
Fax # |
-- |
Business Style 2 |
Trading |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.100,000 |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors (100.00%) |
Banking |
Axis Bank
Limited |
|
Public Limited Corp. |
-- |
Business Period |
4 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ca (18) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
10,653,000 |
Current Liabilities |
29,574,000 |
|
Inventories |
20,460,000 |
Long-term Liabilities |
1,500,000 |
|
Fixed Assets |
1,966,000 |
Other Liabilities |
000 |
|
Deferred Assets |
1000 |
Total Liabilities |
31,074,000 |
|
Invest& other Assets |
1,676,000 |
Retained Earnings |
000 |
|
|
|
Net Worth |
3,682,000 |
|
Total Assets |
34,756,000 |
Total Liab. & Equity |
34,756,000 |
|
Total Assets (Previous Year) |
7,873,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
21,090,000 |
Net Profit |
NA |
|
Sales(Previous yr) |
4,560,000 |
Net Profit(Prev.yr) |
(1,228,000) |
MIRA
INFORM REPORT
|
Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
COAM ENGINEERING PRIVATE LIMITED (w.e.f. 27.06.2008) |
|
|
|
|
Formerly Known
As : |
LOTUS BUILDING MATERIALS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Village No. 38, Old No. 345, New No. 82, Thiruvallur High Road, Thirumazhisai,
Chennai – 600 124, Tamil Nadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.06.2007 |
|
|
|
|
Com. Reg. No.: |
18-63852 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51430TN2007PTC063852 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEL04058F |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
The Company is engaged in the manufacturer and trading business of
building material for industries, commercial, conventional and other related
buildings. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company having moderate track. There appears some
accumulated losses recorded by the company. However, trade relations are reported
as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Village No. 38, Old No. 345, New No. 82, Thiruvallur High Road,
Thirumazhisai, Chennai – 600 124, Tamil Nadu, India |
|
Tel. No.: |
91-44-28235297 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Jisun Kang |
|
Designation : |
Director |
|
Address : |
695-2, 34/2, Bugok Dong, Sangrok – GU, Ansan-Si, Gyeong-Gi |
|
Date of Birth/Age : |
07.09.1984 |
|
Date of Appointment : |
12.11.2008 |
|
DIN No. : |
02320173 |
|
|
|
|
Name : |
Mr. Seung Hee Choi |
|
Designation : |
Director |
|
Address : |
695-2, Buso-Dong, Sang Polc-Gu, |
|
Date of Birth/Age : |
06.11.1955 |
|
Date of Appointment : |
19.01.2011 |
|
DIN No. : |
01613529 |
|
|
|
|
Name : |
Mr. Heesun Kang |
|
Designation : |
Director |
|
Address : |
695-2, 34/2, Bugok Dong, Sangrok – GU, Ansan-Si, Gyeong-Gi |
|
Date of Birth/Age : |
12.02.1981 |
|
Date of Appointment : |
12.11.2008 |
|
Date of Ceasing : |
19.01.2011 |
|
DIN No. : |
02320192 |
|
|
|
|
Name : |
Mr. Kang Chang Hyuk |
|
Designation : |
Director |
|
Address : |
6P5-2, Bugok-Dong, Sangrok-Gu, Keyunjgi-Do, |
|
Date of Birth/Age : |
13.02.1954 |
|
Date of Ceasing : |
12.11.2008 |
|
DIN No. : |
01400379 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Hee Sun Kang |
|
5000 |
|
Ji Sun Kang |
|
5000 |
|
Total |
|
10000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacturer and trading business of
building material for industries, commercial, conventional and other related
buildings. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Axis Bank Limited, |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S Vishnu and Company Chartered Accountant |
|
Address : |
16/23, Swagatham Apartments, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
3.582 |
2.070 |
0.055 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.682 |
2.170 |
0.155 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.500 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1.500 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.016 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.182 |
2.186 |
0.155 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.966 |
1.390 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.001 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
20.460
|
2.705 |
0.000 |
|
|
Sundry Debtors |
8.292
|
0.575 |
0.000 |
|
|
Cash & Bank Balances |
0.411
|
0.325 |
0.105 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.950
|
1.609 |
0.000 |
|
Total
Current Assets |
31.113
|
5.214 |
0.105 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
25.107
|
3.302 |
0.000 |
|
|
Provisions |
|
|
|
|
Total
Current Liabilities |
29.574
|
5.687 |
0.000 |
|
|
Net Current Assets |
1.539
|
(0.473) |
0.105 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.676 |
1.269 |
0.050 |
|
|
|
|
|
|
|
|
TOTAL |
5.182 |
2.186 |
0.155 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
21.090 |
|
NA |
|
|
|
Other Income |
NA |
|
|
|
|
|
TOTAL |
NA |
4.560 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
5.682 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX |
0.146 |
(1.122) |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
0.106 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
AFTER TAX |
NA |
(1.228) |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
8.193 |
4.177 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
(26.93) |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.69
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.44
|
(16.99) |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
(0.52) |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.44
|
2.62 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
0.92 |
0.00 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS
OPERATIONS
The company during the year achieved the turnover of Rs.21.090 millions and
earned a profit of Rs.0.146 million and the directors are confident that the
company will increase the sales volume and as well as income.
FIXED ASSETS
·
Machinery
·
Car
·
Computer
·
Furniture and Fittings
·
Office Equipment
·
Software Purchase
WEB DETAILS
Profile
As Korean’s UPVC Door and Windows Manufacturer, they have recently
expanded the production facility doubling the manufacturing capacity.
Subject is supplying UPVC Windows and Doors with outstanding quality.
The product range includes UPVC doors, UPVC window, UPVC room partitions, Panel
House etc.
They can full range of quality UPVC Doors and windows to trade customers
at fantastic quality and prices. All windows and doors are produced to the
highest standards in the own factory to the sizes and supplied to fit.
They also manufacture a full range of UPVC Doors, ABS Doors, and Steel
Doors with an extensive choice of glass options including matching side panels
if required.
Doors and Windows are all manufactured in-house using the latest
machinery and facilities, and the Company has developed; Octopus, their own
business management and service software system to ensure all orders are
processed to the customers satisfaction
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.46.13 |
|
|
1 |
Rs.75.52 |
|
Euro |
1 |
Rs.66.53 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
18 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.