MIRA INFORM REPORT

 

 

Report Date :

03.01.2011

 

IDENTIFICATION DETAILS

 

Name :

MOLEX (INDIA) PRIVATE LIMITED

 

 

Formerly Known As :

MOLEX (INDIA) LIMITED

 

 

Registered Office :

Maker Bhavan No. 2, 5th Floor, New Marine Lines, Mumbai – 400 020, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

06.11.1985

 

 

Com. Reg. No.:

11-37995

 

 

CIN No.:

[Company Identification No.]

U31300MH1985PTC037995

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

BLRM01567G

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of PCB Interconnection System, Ribbon Cable Connectors etc.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 3553000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.  Trade relations are fair. Business is active. Payments are reported to be usually correct and as per commitments.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

Profit and loss account of the company for the current year is not available.

 

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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

INFORMATION DECLINED BY

 

Name :

Mr. Kiran

Designation :

Operator

Date :

31.12.2010

 

 

LOCATIONS

 

Registered Office :

Maker Bhavan No. 2, 5th Floor, New Marine Lines, Mumbai – 400 020, Maharashtra, India

Tel. No.:

91-80-28452911-20 / 2030261 / 62 / 2052508

Fax No.:

91-80-28452922/ 22052509

E-Mail :

 india@molex.com

infin@bom3.vsnl.net.in

srmehta@molex.com

sharda@novojuris.com

girish.kumar@molex.xom

Website :

http://www.molex.com

Location :

Owned

 

 

Corporate Office / Factory :

Plot No. 6-A, Sadaramangala Industrial Area, Kadugodi, Bangalore – 560 067, Karnataka, India

Tel. No.:

91-80-2845 2911 to 20 (10 Lines) / 41293500

Fax No.:

91-80-2845 2922 /21 / 41293600

Area :

3.5 Acre

Location :

Owned

 

 

DIRECTORS

 

As on 21.09.2010

 

Name :

Mr. Horgan John Michael

Designation :

Business Development

Address :

Villa No.141, Prestige Ozone, Whitefield, Bangalore – 560 066, Karnataka, India

Date of Birth/Age :

12.07.1967

Date of Appointment :

01.07.2008

DIN No.:

02338883

 

 

Name :

Mr. Liam Mccarthy

Designation :

Executive

Address :

17, Soak St, Hinsdale, Illinois – 60521, USA

Date of Birth/Age :

15.12.1955

Date of Appointment :

01.07.2008

DIN No.:

02330034

 

 

Name :

Mr. David Dickey Johnson

Designation :

Executive

Address :

128, Woodstock Avenue, Clarendon Hills - 60514, USA

Date of Birth/Age :

31.01.1958

Date of Appointment :

01.07.2008

DIN No.:

02345970

 

 

Name :

Mr. Girish Kumar Cherukad

Designation :

Director

Address :

Flat No. B 303, JSR Brooklyn, ITPL Road, Kundalahalli, Bangalore – 560 037, Karnataka, India

Date of Birth/Age :

01.01.1969

Date of Appointment :

15.12.2008

DIN No.:

02123111

E-Mail :

girish.kumar@molex.com

 

 

Name :

Mr. Niranjan Jeewanlal Shah

Designation :

Industrialist

Address :

131, Neelamber, 37, G.D Marg, Mumbai – 400026, Maharashtra, India

Date of Birth/Age :

24.06.1945

Date of Appointment :

06.11.1985

Date of Ceasing :

08.07.2002

 

 

Name :

Mr. Dikerroa Desai

Designation :

Consultants

Address :

7, Indian Mercantile Mansion, Madam Cama Road, Mumbai – 400039, Maharashtra, India

Date of Birth/Age :

15.10.1927

Date of Appointment :

06.11.1985

Date of Ceasing :

28.05.1987

 

 

Name :

Mr. Chandrakant Narayan Narvekar

Designation :

Service

Address :

533/B – 55, Gadhi Nagar, Bandra East, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

07.08.1939

Date of Appointment :

06.11.1985

Date of Ceasing :

28.05.1987

 

 

Name :

Mr. Vinod Dinkerrao Desai

Designation :

Consultant

Address :

7, Indian Mercantile Machine, Mumbai – 400039, Maharashtra, India

Date of Birth/Age :

15.10.1927

Date of Appointment :

06.11.1985

Date of Ceasing :

28.05.1987

 

 

Name :

Mr. Martin Peter Slark

Designation :

Business

Address :

1028, Summithills Lane, Naperville, Illinois – 60540, USA

Date of Birth/Age :

11.10.1954

Date of Appointment :

26.03.1987

Date of Ceasing :

12.04.2000

 

 

Name :

Mr. John Costas Psaltis

Designation :

Business

Address :

320, Country Line Road, Hndsale, Illionios – 60521, USA

Date of Birth/Age :

05.01.1940

Date of Appointment :

26.03.1987

Date of Ceasing :

23.05.1988

 

 

Name :

Mr. Frederick August Krehbiel (Foreign)

Designation :

Business

Address :

505, S. County Line Road, Hndsale Illinios – 60521, USA

Date of Birth/Age :

02.06.1941

Date of Appointment :

26.03.1987

Date of Ceasing :

01.07.2008

 

 

Name :

Mr. Kanubhai Shantilal Mehta

Designation :

Business

Address :

Shantilal Nivas, Opposite G H High School, Mumbai – 400066, Maharashtra, India

Date of Birth/Age :

28.09.1934

Date of Appointment :

28.05.1987

Date of Ceasing :

24.06.1993

 

 

Name :

Mr. Satish Mamanlal Mehta

Designation :

Service

Address :

Manish Apartment, Flat No. 102, Nehru Road, Vile Parle, Mumbai – 400057, Maharashtra, India

Date of Birth/Age :

03.09.1933

Date of Appointment :

28.05.1987

Date of Ceasing :

14.10.1987

 

 

Name :

Mr. Manesh Laxmidas Shrikant

Designation :

Business

Address:

Nilamberi, Plot 38, Gai Hind Society, S N Road, No 11, J V P D Scheme, Mumbai –400 049, Maharashtra

Date of Birth/Age :

23.01.1936

Date of Appointment :

13.10.1987

Date of Ceasing :

28.08.2002

 

 

Name :

Mr. Thomas Sturges Lee (Foreign)

Designation :

Business

Address :

353, West Dickens Apartment – 2W, Chicago, Illonois – 60614, USA

Date of Birth/Age :

28.11.1955

Date of Appointment :

23.05.1988

Date of Ceasing :

01.07.2008

 

 

Name :

Mr. Khurshed M. Doongaji

Designation :

Manager – ICICI

Address :

The ICICI, 163, Backisay, Reclamation, Mumbai - 400020, Maharashtra, India

Date of Birth/Age :

06.07.1939

Date of Appointment :

04.07.1988

Date of Ceasing :

25.06.1993

 

 

Name :

Mr. Niranjan Kantilal Shah (Foreign)

Designation :

Business Executive

Address :

165, Defence Colony, 5th Mian, 4th Cross, Hal 2nd State, Indiranagar, Bangalore, Karnataka, India

Date of Birth/Age :

13.05.1949

Qualification :

BE, MBA

Date of Appointment :

24.06.1993

Date of Ceasing:

01.07.2008

Previous Employment:

Container Corporation of America Manufacturing Engineer (3 years)

 

 

Name :

Mr. K.V. Kerala

Designation :

Manager

Address :

A64, Ocean Gold Twin Tower Lane, Prabhadevi, Mumbai – 400005, Maharashtra, India

Date of Birth/Age :

28.05.1959

Date of Appointment :

25.08.1993

Date of Ceasing :

24.06.1994

 

 

Name :

Mr. James Earl Fleischhakker (Foreign)

Designation :

Business Executive

Address :

42B, Nassim Road, Singapore

Date of Birth/Age :

13.05.1944

Date of Appointment :

12.04.2000

Date of Ceasing :

01.07.2008

 

 

Name :

Ms. Minal Niranjan Shah

Designation :

Director

Address :

131, Neelamber, 37, G. D. Marg, Mumbai – 400026, Maharashtra

Date of Birth/Age :

14.07.1951

Date of Appointment :

30.01.2003

Date of Ceasing :

01.07.2008

 

 

Name :

Mr. Engler Werner (Foreign)

Designation :

Director

Address:

12, Pierce Road, Singapore – 248537.

Date of Birth/Age :

15.12.1950

Date of Appointment :

24.02.2002

Date of Ceasing :

27.03.2003

 

 

Name :

Mr. Robert Buchanan Mahoney

Designation :

Director

Address :

9, Regency Park, 24 – 03, Nathan Road, Singapore

Date of Birth/Age :

06.08.1953

Date of Appointment :

25.03.2004

Date of Ceasing :

03.09.2007

 

 

Name :

Mr. David Bowen Root

Designation :

Executive

Address :

420, West Benton Avenue, Naperville - 60540, USA

Date of Birth/Age :

18.12.1953

Date of Appointment :

03.04.2007

Date of Ceasing :

30.06.2009

 

 

KEY EXECUTIVES

 

 

 

Name :

Mr. Chandrakant Jechand Shah

Designation :

Secretary

Address :

B/201, Retreat Tower, Opposite Shyamal Row House NO. 1, 132, Ring Road, Satellite, Ahmedabad – 380015, Gujarat, India

Date of Birth/Age :

26.10.1928

Date of Appointment :

01.02.2001

Election Commission Identity Card No. :

LBR3293529

 

 

Name :

Mr. Shrinivas Patel

Designation :

Accountant

 

 

Name :

Ms. Sharda Balaji

Designation :

Company Secretary

Address :

H 34, L N Puram, Bangalore – 560021, Karnataka, India

Date of Birth/Age :

13.03.1969

Date of Appointment :

19.02.1997

Date of Ceasing :

14.12.1999

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 21.09.2010

 

Names of Shareholders

 

No. of Shares

Molex Incorporated, Lisle, IL, USA

10

Molex International Inc., Lisle, IL, USA

24959940

Woodhead Industries Inc., USA

10

Cardell Corporation, USA

10

Daniel Woodhead Company, USA

10

Molex Copper Flex Products Inc., St. Paul, MN

10

Molex Connector Corporation, Lisle, IL

10

Total

24960000

 

As on 21.09.2010

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

100.00

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of PCB Interconnection System, Ribbon Cable Connectors etc.

 

 

Products :

Product Description

Item Code No.

 

Connectors [including connectors having wires]

84731009, 84732100, 84732900, 84733009, 85179000, 85299000

Crimping tools and parts of dies

8207

 

  • Connectors (including connectors having wires)
  • Crimping tools and Parts of Dies

 

 

Brand Names :

‘MOLEX’

  

 

PRODUCTION STATUS

 

Particulars

Unit

Installed Capacity

Actual Production

 

 

 

 

Professional Grade Connectors

Nos.

Not yet ascertained

991690381

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees :

300 (Approximately)

 

 

Bankers :
  • Canara Bank, Mumbai, Maharashtra
  • Bank of Baroda, Mumbai, Maharashtra
  • Standard Chartered Bank, Bangalore Branch
  • Corporation Bank, Kadugodi Branch

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

S.R. Batliboi and Company

Chartered Accountants

Address :

UB City, ‘Canberra Block’, 12th and 13th Cross, No.24, Vittal Mallaya Road, Bangalore – 560 001, Karnataka, India

Pan No.:

AALFS0506L

 

 

Associates :
  • Molex Mafatlal Micron Limited, Gandhi Nagar

Activity: Manufacturer and Exporter of PCB Interconnection System, Ribbon Cable Connectors etc.

 

 

Holding Company :
  • Molex International Inc., USA

 

 

Ultimate Holding Company :
  • Molex Incorporated, USA

 

 

Fellow Subsidiaries :
  • Molex [Malaysia] Sdn Bhd
  • Molex Private Limited
  • Molex Thailand Limited
  • Molex De Mexico S. A. De C.V.
  • Molex G. Knutsen AS
  • Molex G. Ostervig A/S
  • Molex GmbH
  • Molex Hong Kong Limited
  • Molex China Limited
  • Molex Interconnect AG
  • Molex Interconnect Shanghai Company
  • Molex Ireland
  • Molex Japan Company Limited
  • Molex Korea Company Limited
  • Molex Premise Networks – U.S.A.
  • Molex Premise Networks Asia Limited
  • Molex Premise Networks Limited, Australia
  • Molex Premise Networks Sp Zoo, Poland
  • Molex Singapore Pte Limited
  • Molex Taiwan Limited
  • Molex India Tooling Private Limited
  • Molex Premises Networks Asia Limited, Hongkong
  • Automotive Connectors India Private Limited

 

CAPITAL STRUCTURE

 

As on 21.09.2010

 

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

24960000

Equity Shares

Rs.10/- each

Rs.249.600 millions

 

 

 

 

 

 Note:

Of the above 249599940 equity shares of Rs. 10/- each are held by Molex International Inc, USA the company, holding company

 

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

249.600

249.600

249.600

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

638.741

547.110

579.204

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

888.341

796.710

828.804

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

194.986

209.188

82.104

TOTAL BORROWING

194.986

209.188

82.104

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

1083.327

1005.898

910.908

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

217.306

275.369

268.922

Capital work-in-progress

5.734

4.382

12.976

 

 

 

 

INVESTMENT

42.139

42.289

44.056

DEFERREX TAX ASSETS

44.148

37.387

38.059

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

290.219

323.821

369.086

 

Sundry Debtors

385.880

386.919

402.941

 

Cash & Bank Balances

131.750

89.161

137.590

 

Other Current Assets
0.000
0.000
0.000

 

Loans & Advances

385.702

433.163

247.186

Total Current Assets
1193.551
1233.064
1156.803

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors

391.866

566.722

573.612

 

Current Liabilities

 

 

 

 

Provisions
27.685
19.871
36.296

Total Current Liabilities

419.551

586.593

609.908

Net Current Assets

774.000

646.471

546.895

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

1083.327

1005.898

910.908

 4

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Income

 

2417.506

1951.345

 

 

Other Income

 

65.743

76.075

 

 

TOTAL                                     (A)

 

2483.249

2027.420

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of sales

 

1739.741

1315.129

 

 

Personnel expenses

 

192.346

115.029

 

 

Manufacturing, marketing and other expenses

 

501.073

412.920

 

 

TOTAL                                     (B)

 

2433.160

1843.078

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

 

50.089

184.342

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

16.941

9.292

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

 

33.148

175.050

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

 

57.693

48.792

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

 

(24.545)

126.258

 

 

 

 

 

Less

TAX                                                                  (H)

 

7.549

106.629

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

 

(32.094)

19.629

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

 

579.204

518.028

 

 

 

 

 

Add

ADJUSTMENT FOR INVENTORY RESERVE

 

0.000

41.547

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Inventory Allowance Reserve

 

0.000

0.000

 

BALANCE CARRIED TO THE B/S

 

547.110

579.204

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

 

NA

338.914

 

TOTAL EARNINGS

 

NA

338.914

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

 

NA

473.627

 

 

Traded Goods

 

NA

434.809

 

 

Capital Goods

 

NA

97.955

 

TOTAL IMPORTS

 

NA

1006.391

 

 

 

 

 

 

Earnings Per Share (Rs.)

 

(1.29)

0.79

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
NA
(1.29)
0.97

 

 
 
 
 

Net Profit Margin

(PBT/Sales)

(%)
NA
(1.02)
6.47

 

 
 
 
 

Return on Total Assets

(PBT/Total Assets}

(%)
NA
(1.63)
8.86

 

 
 
 
 

Return on Investment (ROI)

(PBT/Networth)

 
NA
(0.03)
0.15

 

 
 
 
 

Debt Equity Ratio

(Total Liability/Networth)

 
0.69
1.00
0.83

 

 
 
 
 

Current Ratio

(Current Asset/Current Liability)

 
2.84
2.10
1.90

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Details of Sundry Creditors: Not Available

 

HISTORY

 

The company has shifted its entire operations to it’s Bangalore office.

 

The company has been enjoying the benefits and privileges arising from the ISO 9002 certification.  The company is in the process of obtaining QS 9000 certification.

 

The company has technical collaboration agreement with Molex of USA who is one of the world leaders of manufacturing electronic connectors.

 

As part of an expansions program the company recently embarked upon, it acquired along with Molex International Inc., a majority stake in Molex Mafatlal Micron Limited.  This company, which was a division of Mafatlal Industries Limited, manufactures Euro and IDC Connectors in collaboration with Siemens of Germany.  This acquisition will enable Molex to increase its presence in the Telecom Business in India, by bringing about synergies in manufacturing and marketing.

 

The company introduced two new product range. The Gigapack range of high performance UTP products was launched to address the high end market need to support 622 Mbps ATM and Gigabit Ethernet and the other range of MLX power connectors for Home appliance, HVAC, Industrial Automation markets, etc.

 

The company continues to be a major foreign exchange earner in the Connector Industry.

 

An amount of Rs. 49.376 millions is due to Molex Inc., U.S.A. towards supplies on capital goods made in previous years.  Which stands converted into an external commercial borrowing from Moles Inc., U.S.A. from June 2001 onwards.  This loan is repayable by June 2001.  This is to be paid as single bullet repayment at the end of the third year, June 2004.

 

FIXED ASSETS:

  • Land
  • Buildings
  • Dies and Molds
  • Plant and Machinery
  • Computers
  • Furniture and Fixtures
  • Vehicles
  • Office Equipment

 

WEBSITE DETAILS

 

PROFILE:

 

Subject is a one-source supplier of interconnect products. There team of highly skilled experts is focused on the design, development and distribution of innovative product solutions that touch virtually every walk of life. There portfolio is among the world's most extensive, with over 100,000 reliable products, including everything from electronic, electrical and fiber optic interconnects to switches and application tooling.


They leverage extensive worldwide resources to meet customer needs on a local, regional and global level. Subject offers well-established sales, product development, manufacturing and logistics resources in Asia, Europe and the Americas. There engineering, development and manufacturing capabilities are organized into three product divisions, all serviced by the Subject Global Sales and Marketing Division.


Commercial Products Division: Develops and manufactures multi-market products for a diverse range of applications. The divisions new product activities are focused into two main areas: high-speed, high-density, high-signal-integrity interconnect applications; and interconnect solutions for advanced engine, cockpit and infotainment functions in automobiles and other transportation equipment.

 
Micro Products Division: Known for developing the smallest connectors in the world, the Micro Products division is focused on portable digital product applications. This division has a number of business units. Among these is Molex Kiire, the business unit created to accommodate the 2008 acquisition of Fuchigami Micro. Fuchigami Micro was known in advanced technical circles for solving unique problems with custom electromechanical components of the smallest size. The business unit's capabilities including photolithography, micro-etch and small scale thermal dissipation technology.

 
Integrated Products Division: Produces higher-level assemblies utilizing Molex interconnect technologies, typically in printed circuit board, fiber optic, flex circuit and other applications. Its business units span a wide variety of applications. The Automation and Electronic Products Group specializes in harsh-environment technology for factory automation, power, temporary lighting and ergonomic products in industrial, construction and other applications. The Premise Network Group focuses on structured cabling for office buildings, universities and government campuses.

 
Global Sales and Marketing Division: A highly collaborative team of regional sales and industry marketing professionals who work to provide a higher level of service to Molex customers. A significant number of customers use products from more than one of there divisions. Many also work on a global scale, designing in one location and manufacturing in another, so customer service requires a high degree of internal coordination. There sales team is supported by a global IT infrastructure that helps them exchange and track customer information.

 

MANUFACTURING PRODUCT

 

Subject manufactures its products in 59 plants that are strategically located across Asia, Europe and North America. Because innovation and quality go hand-in-hand with advanced manufacturing processes, they are in a continuous state of improvement in their core molding, stamping, plating and assembly operations.

 

They utilize state-of-the-art plastic injection molding machines and metal stamping and forming presses. They are continuously creating new processes to meet the ongoing challenge of manufacturing ever-smaller connectors. They have developed proprietary plated plastic technology, which provides excellent shielding performance while speeding prototyping and manufacturing processes in applications such as mobile phone antennas. They have strong capabilities in printed circuit card and harness assembly within the Integrated Products Division.

 

The commitment to reducing manufacturing costs as they invest to increase capacity is driving a trend of fewer but larger Molex factories. The investments are to enlarge existing plants, with a focus on consolidating expertise and processes at specific sites. The objective: to achieve economies of scale and higher capacity utilization while continuing to assure on-time delivery.

 

They invest to increase productivity and expand capacity, quality remains paramount. All Molex factories are ISO 9000 certified, and the automotive plants are the way with the ISOTS- 16949 standard.

 

Subject is committed to conforming to all national and global environmental standards. This is the basis of their ECOCARE initiative also outlined in this section.

 

DEVELOPING PRODUCTS

 

A sustained pipeline of innovative new company products is essential to maintaining strong customer partnerships. That's why Molex has a long tradition of engineering leadership and strategic investment in world-class technology. The integrated approach to product development represents an active collaboration between their customers and Molex experts in R and D, sales, marketing and design engineering.

 

Subject invests approximately 5 percent of net revenue in research and development, among the highest levels of R and D investment in their industry. They are known for providing a continuous flow of innovation in areas such as high-speed signal integrity, miniaturization, higher power delivery, optical signal transmission and sealed harsh-environment connectivity.

 

The more than 1,000 electrical, mechanical and process engineers work out of company design centers in strategic locations across the world, including Japan, the United States, China, Germany, India, Ireland, Korea and Singapore. The latest in computer-aided engineering and predictive engineering software and systems - including advanced stereo lithography modeling capabilities - enable rapid prototyping and evaluation of new concepts. The result: high-quality products developed, manufactured and delivered in ever-faster time to market.

 

GLOBAL RESOURCES

 

Each of there global product divisions has dedicated manufacturing capabilities in key regions of the world. This structure enables optimal deployment of resources and capabilities. There global manufacturing footprint includes a long-established presence in key geographies - sales in Japan and Europe since 1967 and a presence in China from the early 1980s. A manufacturing joint-venture opened in Japan in 1970. Manufacturing facilities in Ireland and Mexico since 1971.

 
There global sales and marketing organization unifies the service provided to there customers. The organization is structured to ensure that there coverage is virtually seamless, from design through to manufacturing. It also is designed to ensure that decisions made and services provided create maximum customer value, no matter where a customer designs or manufactures its products.

 
There website, Molex.com, offers a unified global electronic catalog with the latest revisions of sales drawings and information, supported by there marketing and development teams around the world. Molex operations are networked through a global SAP system that has been in operation since 1996. Among other important benefits, this system supports a highly evolved logistics capability.

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.44.81

UK Pound

1

Rs.69.29

Euro

1

Rs.59.81

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

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

 

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.