MIRA
INFORM REPORT
|
Report Date : |
04.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEDISON SYSTEMS INDIA PRIVATE LIMITED |
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Registered
Office : |
303, Ring Road Mall, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
29.12.2008 |
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Com. Reg. No.: |
55-186197 |
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Capital Investment
/ Paid-up Capital : |
Rs.47.958
millions |
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CIN No.: [Company Identification
No.] |
U24232DL2008PTC186197 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader and Importer of Medical Equipments (Ultra Sound Machine). |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 122000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company 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 with some caution.
Profit and loss account of the company 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Krishan Chander |
|
Designation : |
Accountant |
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Contact No.: |
91-9312404041 |
|
Date : |
04.07.2011 |
LOCATIONS
|
Registered Office : |
303, Ring Road Mall, |
|
Tel. No.: |
91-11-27941286/ 47505395/ 47505396 |
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Mobile No.: |
91-9312404041 (Mr. Krishan Chander) |
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Fax No.: |
91-11-47021051 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Branch Office : |
Located at: v
Mumbai v
Chennai v
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DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Peom Soo Han |
|
Designation : |
Managing Director |
|
Address : |
1st Floor, Dream House, B 5/180, Safdarjung Enclave, |
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Date of Birth/Age : |
20.09.1972 |
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Date of Appointment : |
22.03.2010 |
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DIN No.: |
02964180 |
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|
|
|
Name : |
Mr. Kyoung Sook |
|
Designation : |
Director |
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|
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Name : |
Gun Beak Lim |
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Designation : |
Director |
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Address : |
H-79, Kalkaji, |
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Date of Birth/Age : |
15.09.1979 |
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Date of Appointment : |
29.12.2008 |
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Date of Ceasing : |
22.03.2010 |
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DIN No.: |
02456913 |
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|
|
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Name : |
Mr. Sudhir Omkar Dhar |
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Designation : |
Director |
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Address : |
E-66, New Sraswati Apartments, Sector – 9, Rohini, |
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Date of Birth/Age : |
01.11.1956 |
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Date of Appointment : |
14.01.2009 |
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Date of Ceasing : |
30.12.2010 |
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DIN No.: |
01147616 |
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Name : |
Mr. Sanjay Navin Joshi |
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Designation : |
Director |
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Address : |
23, Vindychal Apartment, PC. Sunder Vihar, |
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Date of Birth/Age : |
05.08.1962 |
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Date of Appointment : |
14.01.2009 |
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Date of Ceasing : |
30.12.2010 |
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DIN No.: |
01147738 |
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|
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Name : |
Tae Hyung Kim |
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Designation : |
Managing Director |
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Address : |
A4-504, Sahara Grace Apartment, Gurgaon – 122 002, |
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Date of Birth/Age : |
25.10.1970 |
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Date of Appointment : |
29.12.2008 |
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Date of Ceasing : |
22.03.2010 |
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DIN No.: |
02456911 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Medison America Inc., |
|
4751 |
|
Medison Company Limited, |
|
4791025 |
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Total |
|
4795776 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Medical Equipments (Ultra Sound Machine). |
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Imports : |
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Products : |
Medical Equipment (Ultra Sound Machine) |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Customers : |
Dealer and Distributor |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
v Shinhan Bank, v
ICICI Bank Limited,
Puspanjali, v
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name 1 : |
Price Water House Chartered Accountants |
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Name 2 : |
S. Kapoor and Associates Chartered Accountants |
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Address : |
N-268, 2nd Floor, Greater Kailash – I, |
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Tel. No.: |
91-11-29234894 |
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Tele Fax No.: |
91-11-29237897 |
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E-Mail : |
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Holding Company : |
Medison Company Limited, |
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Associates : |
v
Medison Medical Systems ( v
JDS Medison ( v
J.D.S. Utilities Company |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs.48.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4795776 |
Equity Shares |
Rs.10/- each |
Rs.47.958
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
|
47.958 |
0.100 |
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|
2] Share Application Money |
|
0.000 |
47.810 |
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3] Reserves & Surplus |
|
0.000 |
0.000 |
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4] (Accumulated Losses) |
|
(17.337) |
(8.647) |
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NETWORTH |
|
30.621 |
39.263 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
15.000 |
15.000 |
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TOTAL BORROWING |
|
15.000 |
15.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
45.621 |
54.263 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
5.765 |
0.154 |
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Capital work-in-progress |
|
0.000 |
3.504 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
44.409 |
11.799 |
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Sundry Debtors |
|
19.545 |
22.203 |
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Cash & Bank Balances |
|
25.791 |
58.900 |
|
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Other Current Assets |
|
0.000 |
0.000 |
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Loans & Advances |
|
4.979 |
1.885 |
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Total
Current Assets |
|
94.724 |
94.787 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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|
Sundry Creditors |
|
37.044 |
32.139 |
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Other Current Liabilities |
|
18.591 |
12.970 |
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Provisions |
|
0.000 |
0.095 |
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Total
Current Liabilities |
|
55.635 |
45.204 |
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Net Current Assets |
|
39.089 |
49.583 |
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MISCELLANEOUS EXPENSES |
|
0.767 |
1.022 |
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TOTAL |
|
45.621 |
54.263 |
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PROFIT & LOSS
ACCOUNT
|
Particulars |
|
31.03.2011 (Approximately) |
31.03.2010 (Approximately) |
|
Sales Turnover |
|
300.000 |
200.000 |
|
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|
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|
The above information has been parted by Mr. Krishan Chander
(Accountant).
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
2.31 |
1.53 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.70 |
2.10 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from
H-79, Kalkaji,
FINANCIAL RESULTS:
The profit during the
year has been Rs.17.337 millions as compared to Rs.8.647 millions of previous
year.
OPERATIONS:
The working of the company has been more or less same as per last year.
CONTINGENT LIABILITIES (As on 31.03.2010):
v Contingent Liabilities in respect of Sales tax guarantee: Rs.0.100
million.
FIXED ASSETS:
Tangible Assets:
v Office Equipment
v Computer Hardware
v Furniture and Fixture
v Electrical Fittings
v Tools and Kits
v Leasehold Improvements
Intangible Assets:
v Computer Software
WEBSITE DETAILS:
PRESS RELEASES:
Mr. Sang-Won Bang, CEO (1) (Chief Executive Officer)
The highest individual in command of an organization. Typically the president
of the company, the CEO reports to the Chairman of the Board. of Samsung
Medison, launched the new corporate vision of 'New Vision into Life', and
announced company's goal of becoming one of the world's top 4 diagnostic
ultrasound firms. Samsung Medison aims to become a world's best medical
equipment manufacturer by 2020.
Mr. Bang added, "With a launch of the new corporate name, Samsung Medison,
we will put customer satisfaction at the top of our priority list by providing
the very best in quality and service, in line with Samsung's global image. We
will dramatically increase our investment in research and development, and will
do our best to promote human health and happiness by securing the best in
scientific and human resources The fancy word for "people." The
human resources department within an organization, years ago known as the
"personnel department," manages the administrative aspects of the
employees. in the medical device industry."
Samsung Medison will combine Samsung's resources, digital technology and
experience of growth worldwide with Medison's technological prowess and
established market presence. The company will continue to invest more than 10%
of its annual sales in R and D, and will expand investment in marketing strategies
such as holding global academic conferences and seminars. In addition, Samsung
plans to have more than 10,000 employees in its medical equipment business by
2020.
About Samsung Medison
Samsung Medison is
In February 2011, Samsung became a majority shareholder of Samsung Medison.
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.44.45 |
|
|
1 |
Rs.71.53 |
|
Euro |
1 |
Rs.64.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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.