MIRA
INFORM REPORT
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Report Date : |
09.07.2011 |
IDENTIFICATION DETAILS
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Name : |
R F EXPORTS |
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Registered
Office : |
Eramalloor, Alappuzha – 688537, Kerala |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1996 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
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Manufacturer and Exporter of Seafood |
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No. of Employees
: |
500 in Factory [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
Ba [49] |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established proprietory concern having fine track.
Trade relations are reported as fair. Business is active. Payments are reported
to be correct and as per commitments. The concern can be considered good for normal business dealings at
usual 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 – 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 |
INFORMATION PARTED BY
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Name : |
Mr. Niaz |
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Designation : |
Office Assistant |
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Date : |
05.07.2011 |
LOCATIONS
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Registered Office : |
[E.U. No. 696], Eramalloor, Alappuzha – 688537, |
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Tel. No.: |
91-478-2879777 / 78 / 79 / 80 / 2879999 |
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Fax No.: |
91-478-2879962 |
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E-Mail : |
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Website : |
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Branches : |
Agents all thru the country |
SOLE PROPRIETOR
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Name : |
Mr. S M Farook |
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Designation : |
Sole Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Niaz |
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Designation : |
Office Assistant |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Seafood |
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Exports : |
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Products : |
Seafood Mix |
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Countries : |
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Terms : |
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Selling : |
L/C / Credit [30 Days] |
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Purchasing : |
-- |
PRODUCTION STATUS
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Seafood Processing |
MT |
110 MT Per Day |
100 MT Per Day
During season Only |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
500 in Factory [Approximately] |
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Bankers : |
Union Bank of |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
R. F. Motors Private Limited Address : Near Reliance
Petrol Pump, Activity : Tata Dealer of
all types of cars |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2011 |
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Sales Turnover [Approximately] |
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500.000 |
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The above information has been parted by Mr. Niaz [Office Assistant]
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
About Concern :
This is a proprietorship firm started in the
year 1996 by Mr F M Farook. Mr Farook went into business in the year 1987. He
was engaged in the sale of sea food from then on. In the year 1996 he started R
F Exports to give the clients a comprehensive choice of seafood. From then on
there was no looking back. R F Exports modern purpose built E U approved
production facility is situated on the outskirts of
The firm is doing very well and employs about
500 people both permanent and contract staff. Their products are much sought
after all over the world. Apart from this firm Mr Farook also has an automobile
show room in
A reputed, well known cash rich firm. However
caution advised in all financial dealings with them. There is no way to assess
the financial strength of the firm. Orders may be plated against LOs or
documents may be drawn thru Bank.
Factory : The factory is situated in the outskirts of
They have an In-house full microbiological
laboratory accredited by (EIC)Export Inspection Council of India is capable of
testing for complete range of food spoilage micro-organisms. RF Export. is an
EU certified plant known for its quality, service and commitment to its
customers. Quality always comes first, whether it is in the products or in the
service. RE has established a detailed set of processes and steps to ensure
that the end-product conforms to stringent international norms in the fishery
processing industry.
The strength of the firm
• State - of - the - art processing plant to
deliver only the best quality products
• Unparalleled expertise of world class
consultants having sound technical experience and expertise in food processing
industries used for the factory design.
• Unique straight flow design plant with no
back tracking at any stage Processing plant located close to landing centre
which minimizes raw material handling and transportation thus maintaining its
natural characteristics.
• Processing plant with facilities of a IQF
cooler, four plate freezers, two air blast freezers and a breading line.
• Processing plant located near by
• HIgh qualified personnel with long
experience to lead the entire team.
• Use of best refrigeration technolc5y.
• Full time generator back - up with automatic
start up facility.
• Water treatment Plant with UV Filter.
• Guaranteed quality of products and service.
• Ability to customize to requested product
specifications.
• Modern laboratory equipment with strict
adherence to international norms.
RE is in the forefront of freshwater shrimp farming
with its 80 hectare farm on the banks of the Kerala backwaters. This totally
natural, sustainable and eco - friendly farm rotates between paddy cultivation
while the monsoons and shrimp farming through the rest of the year. The
following species are cultivating under poly culture systems; Penaeus monodon,
Penaeus indicus, arcrobrachium Rosenbergii,
Their operations are centralized at their
38,000 square foot plant in Eramaloor, Kerala.
This state-of-the-art facility is fully
climate-controlled. They operate two shifts from this facility every day of the
week. The 1,000 square foot pre-processing center in the facility premises is
kept cooled at +25°c at all times. Apart from this their second pre-processing
facility with 3,000 square-foot is located just opposite of the facility with
similar facilities.
•
Highly qualified, experienced and skilled personnel.
•
State-of-the-art IQF freezer with cooker and breading facility.
•
Two air blast freezers.
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Four contact freezers.
Total production capacity of 53 MT/day.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.32 |
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|
1 |
Rs.70.74 |
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Euro |
1 |
Rs.63.64 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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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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49 |
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 |
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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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.