Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
UMW DONGSHIN MOTECH PRIVATE LIMITED |
Principal Name 1 |
Mr. Choon Woo Lim |
|
Status |
Moderate |
Principal Name 2 |
Mr. Muthukumar Ayarpadde |
|
|
|
Registration # |
133046 |
|
Street Address |
Plot No.: A – 19, Talegaon Industrial Area, Village Navlakhumbre,
Maval, Pune 410507, Mahara |
||
|
Established Date |
16.04.2007 |
SIC Code |
-- |
|
Telephone# |
91-20-26608813 |
Business Style 1 |
Manufacturer and Supplier of Automobile Body Parts |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 306,335,980 |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings 100 % |
Banking |
Standard Chartered Bank |
|
Public Limited Corp. |
-- |
Business Period |
4 years |
|
IPO |
-- |
International Ins. |
-- |
|
Public |
-- |
Rating |
B (28) |
|
Related
Company |
|||
|
Relation - Holding Company |
Country - Malaysia |
Company
Name |
M K Automotive Industries Limited, |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
317,837,000 |
Current Liabilities |
129,129,000 |
|
Inventories |
24,157,000 |
Long-term Liabilities |
1,005,154,000 |
|
Fixed Assets |
1,100,549,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
1,134,283,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
1,925,000 |
|
|
0 |
Net Worth |
308,260,000 |
|
Total Assets |
1,442,543,000 |
Total Liab. & Equity |
1,442,543,000 |
|
Total Assets (Previous Year) |
777,283,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
90,780,000 |
Net Profit |
1,830,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
UMW DONGSHIN MOTECH PRIVATE LIMITED (w.e.f. 19.11.2009 ) |
|
|
|
|
Formerly Known
As : |
DONGSHIN MOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.: A – 19, Talegaon Industrial Area, Village Navlakhumbre,
Maval, Pune 410507, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.04.2007 |
|
|
|
|
Com. Reg. No.: |
133046 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.306.335 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29255PN2007PTC133046 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEU06667D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD5858L |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer and Supplier of Automobile Body Parts |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 1233040 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. 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
cautions. |
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 : |
Plot No.: A – 19, Talegaon Industrial Area, Village Navlakhumbre,
Maval, Pune 410507, Maharashtra, India |
|
Tel. No.: |
91-20-26608813 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Talegaon, Pune, Maharashtra, India |
DIRECTORS
AS ON 01.09.2010
|
Name : |
Mr. Choon Woo Lim |
|
Designation : |
Director |
|
Date of Birth/Age : |
06.12.1964 |
|
Date of Appointment : |
16.04.2007 |
|
|
|
|
Name : |
Mr. Muthukumar Ayarpadde |
|
Designation : |
Director |
|
Date of Birth/Age : |
13.07.1972 |
|
Date of Appointment : |
27.07.2007 |
|
|
|
|
Name : |
Mr. Jong Soo Rhee |
|
Designation : |
Director |
|
Date of Birth/Age : |
04.12.1965 |
|
Date of Appointment : |
27.07.2007 |
|
|
|
|
Name : |
Mr. Abdul Halim Bin Harun |
|
Designation : |
Director |
|
Date of Birth/Age : |
20.03.1951 |
|
Date of Appointment : |
01.10.2008 |
|
|
|
|
Name : |
Mr. Azhar Bin Harun |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.05.1956 |
|
Date of Appointment : |
01.11.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 01.09.2010
|
Names of Shareholders |
No. of Shares |
|
Dongshin Motech Company Limited, Korea |
12253439 |
|
M K Automotive Industries Limited, Malaysia |
18380159 |
|
Total |
30633598 |
AS ON 01.09.2010
|
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 Supplier of Automobile Body Parts |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Standard Chartered Bank, 90, M G Road, Fort, Mumbai 400001,
Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Snda and Associates Chartered Accountant |
|
Address : |
2 Alankar Apartments, S No. 26/14, Shivajinagar, Near Sakhar Sankul,
Pune 411005, Maharashtra, India |
|
|
|
|
Holding Company: |
M K Automotive Industries Limited, Malaysia |
|
|
|
|
Associates/Subsidiaries : |
·
A Rank Holdings Private Limited ·
UMW Holding BHD, Malaysia ·
International Brass Industries Sdn Bhd ·
MK Industries (Asia) Sdn Bhd |
CAPITAL STRUCTURE
AS ON 01.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs. 10 each |
Rs.500.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30633598 |
Equity Shares |
Rs. 10 each |
Rs.306.335 millions |
|
|
|
|
|
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 |
306.335 |
245.068 |
152.909 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.925 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
308.260 |
245.068 |
152.909 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
982.664 |
63.545 |
0.000 |
|
|
2] Unsecured Loans |
22.490 |
308.000 |
0.000 |
|
|
TOTAL BORROWING |
1005.154 |
371.545 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1313.414 |
616.613 |
152.909 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1100.549 |
2.866 |
1.653 |
|
|
Capital work-in-progress |
0.000 |
671.367 |
7.563 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
24.157
|
2.103 |
0.000 |
|
|
Sundry Debtors |
193.255
|
0.070 |
0.000 |
|
|
Cash & Bank Balances |
5.868
|
100.396 |
94.486 |
|
|
Other Current Assets |
118.714
|
0.000 |
0.161 |
|
|
Loans & Advances |
0.000
|
0.000 |
51.402 |
|
Total
Current Assets |
341.994
|
102.569 |
146.049 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
55.410
|
153.308 |
0.685 |
|
|
Other Current Liabilities |
72.191
|
5.737 |
1.140 |
|
|
Provisions |
1.528
|
1.625 |
0.531 |
|
Total
Current Liabilities |
129.129
|
160.670 |
2.356 |
|
|
Net Current Assets |
212.865
|
(58.101) |
143.693 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.481 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1313.414 |
616.613 |
152.909 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Other Income |
|
|
90.780 |
|
|
|
TOTAL (A) |
|
|
90.780 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
74.754 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
74.754 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
16.026 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
16.026 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
14.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
1.877 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.047 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
1.830 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
|
|
1.925 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
0.05 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.01
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.06
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.13
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.67
|
2.17 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.64
|
0.63 |
61.99 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS:
The Company has set up a state of the Art facility for production of
Automobile body parts to be supplied to automobile manufacturers. The factory
is set up at Talegaon, about 50 kms. from Pune, Maharashtra The Company
Commenced commercial production from January 1't, 2010 and currently supplies
mainly to General Motors India.
OPERATIONS AND
FUTURE PROSPECTS:
The Company during the 3 months period ended on March 31st,
2010 incurred an Operating Loss of Rs. 29.099 millions and due to unrealized
gain on account of foreign currency
fluctuation amounting to Rs. 30.976 millions posted Net Profit after tax Rs.
1.925 millions The Board of Directors however, are confident that there is
enough potential for growth and with aggressive marketing and business development,
the company should break even by the end of next year.
NOTE:
Registered office of the company has been shifted from No 29 Devadi Street, Mylapore Chennai 600004, Tamil nadu, India to the present address w.e.f. 23.10.2008
FIXED ASSETS:
·
Building
·
Plant and Machinery
·
Electrical Machinery
·
Vehicle
·
Computer
·
Furniture
·
Leasehold Land
FORM 8
|
Corporate
identity number of the company |
U29255PN2007PTC133046 |
|
Name of the
company |
UMW DONGSHIN MOTECH PRIVATE LIMITED (w.e.f. 19.11.2009 ) |
|
Address of the
registered office or of the principal place of business in |
Plot No.: A – 19, Talegaon Industrial Area, Village Navlakhumbre,
Maval, Pune 410507, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Standard Chartered Bank, 90, M G Road, Fort, Mumbai 400001,
Maharashtra, India Email: Jagdish.Pathak@sc.com
|
|
Nature of instrument
creating charge |
Indenture of
Mortgage |
|
Date of
instrument Creating the charge |
07.04.2010 |
|
Amount secured by
the charge |
Rs. 750.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Credit
Facilities. Interest /
Commission - As agreed by and with the Bank from time to time. Terms of repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any. Extent and operation of the charge The Bank is
having first charge on assets Other The Bank
sanctioned the facility of 15 Mn which is equivalent to INR 750.000 millions
(USD 1 = INR 50). For the purpose of filing Form 8, the facility amount
equivalent in Indian Rupees has been calculated at the prevailing foreign
currency exchange rate i.e. (1 USD = INR 50). |
|
Short particulars
of the property charged (Including location of the property) |
Property beaing
Plot bearing no. A-19, admeasuring 32,001 sq mtrs. situated at Talegaon
Industrial Area within the village limits of Umbre and outside the limits of
Municipal Council, Taluka and
Registration sub District Pune, District Pune. |
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.44.74 |
|
|
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
28 |
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.