MIRA INFORM REPORT
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Report Date : |
16.02.2011 |
IDENTIFICATION DETAILS
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Name : |
MGK INTERNATIONAL INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
05.07.2007 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Recyclable Material Supplier |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 7.000 |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
MGK International Inc |
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Address in the order: |
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Legal Name: |
MGK INTERNATIONAL INC |
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Legal Address |
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Operative Address |
13 Roszel Road Suit C201 princeton, NJ 08450 |
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Telephone: |
+1 (201) 332-5645 |
ID : |
3539849 |
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Fax: |
+1 (201) 451-0949 |
Legal Form: |
Corporation for Profit |
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Email: |
NA |
Registered in: |
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Website: |
NA |
Date Created: |
2007 |
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Manager: |
Sailesh Datta, CEO |
Date Incorporated: |
July 5th, 2007 |
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Staff: |
6 |
Stock: |
200 |
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Value: |
No par value |
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Activity: |
Recyclable Material Supplier |
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BANKS
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Name of the Bank |
HSBC Bank |
BUSINESS
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HISTORY |
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The company was created in the 2007 |
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PRINCIPAL ACTIVITY |
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This company is categorized under a Recyclable Material Supplier. |
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Products/Services description: |
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Albar Precious Metal Refining Waste Materials Toxic Waste Materials Solid Waste Materials Scrap Metal Refinery |
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Sales are: |
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Wholesale |
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Clients: |
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Various industries |
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Operations area: |
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National, International |
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The company export to |
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PAYMENTS |
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made on a 60 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered at: |
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Branches: |
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There were no branches found for this company. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This company is a wholly owned subsidiary of MTC Business Pvt. Ltd. 301-302, Vertex Vikas, 'A' Wing, Andheri (E) Mumbai - 400 069 Tel: 0091-22-67872900 Fax:0091-22-26844681 / 67410875 |
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Management: |
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Hitendra Jain, President |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the accountant of the company who refused to tell us
his name and to provide us with any financial data without knowing the name
of the inquiring party. |
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However our financial sources could provide us with the following data
(estimates): |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
470,000 |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
360,000 |
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The cash flow is |
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Legal Fillings |
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There are 17 UCC files listed with the Secretary
of State of New York. There are no legal filings listed with the
District Court. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other
creditors about a debtor’s assets used as collateral for a secured
transaction by filing a public notice (financing statement) with a particular
filing office. The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a Correct credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final Opinion |
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This company has been in business for 4
years, and it has a staff of 6 employees which makes it a small sized
company. There were no legal filings found against
the company or its legal representatives. The profitability increased for the year
2010 in a 31%. A credit line may be considered for USD
7.000 |
SUMMARY
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Profitability |
CORRECT |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Position |
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Accounting representative |
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Comments |
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He refused to provide us with his name or any other financial
information without knowing the name of the inquiring party. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.50 |
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1 |
Rs.73.07 |
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Euro |
1 |
Rs.61.63 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.