MIRA
INFORM REPORT
|
Report Date : |
05.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
PHILLIPS CORPORATION |
|
|
|
|
|
|
Registered Office : |
|
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Date of Incorporation : |
03.03.1961 |
|
|
|
|
|
|
Legal Form : |
Corporation for Profit |
|
|
|
|
|
|
Line of Business : |
Industrial Machinery and Equipment Merchant. |
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
GEOPOLITICS - UNITED STATES
|
|
|
POLITICAL DATA |
ECONOMIC DATA |
|
Form of Government: Federal
|
Currency: USD |
IDENTIFICATION
|
|||
|
|
Your order was on HAAS FACTORY OUTLET, however this is a non
incorporated business unit of PHILLIPS CORPORATION. Therefore, we did the
report on PHILLIPS CORPORATION. |
||
|
Legal Name: |
PHILLIPS CORPORATION |
||
|
Legal Address |
|
||
|
Operative Address |
|
||
|
Telephone: |
(410) 564 - 2929 // (800) 878 - 4242 |
ID : |
D00172197 |
|
Fax: |
(410) 564 - 2949 |
Legal Form: |
Corporation for Profit |
|
Email: |
info@phillipscorp.com |
Registered in: |
|
|
Website: |
http://www.phillipscorp.com |
Date Created: |
1961 |
|
Manager: |
ALAN M. PHILLIPS |
Date Incorporated: |
March 3, 1961 |
|
Staff: |
35 |
Stock: |
NA |
|
|
|
Value: |
NA |
|
Activity: |
Industrial Machinery and Equipment Merchant. |
||
BANKS
|
|
|
Name of the Bank |
BANK OF |
BUSINESS
|
|
|
HISTORY |
|
|
|
The company was created in 1961. |
|
PRINCIPAL ACTIVITY |
|
|
|
The company is global supplier of manufacturing technology products
and services primarily focused on machine tools (metalworking) |
|
Sales are: |
|
|
|
Wholesale |
|
Operations area: |
|
|
|
National, International |
|
The company export to |
|
|
The subject employs 35 employee(s) |
|
|
PAYMENTS |
|
|
|
made on a 50 days basis - monitored over the last 12 months |
|
LOCATION |
|
|
Headquarters |
|
|
|
The company is headquartered in: |
|
Branches: |
|
|
|
The company has several business units, for Manufacturing,
Distribution and Applications & Education. The order was on HAAS FACTORY OUTLET, which is an Applications &
Education Division. It offers CNC training ranging from Haas control training
to CNC programming. The applications services include lean manufacturing
consultation and design, set up reduction, programming, and First Part
Process Development. PHILLIPS CORPORATION has several locations for these
training centers, one of them is at the address provided ( |
Shareholders - Manager - Related Companies
|
|
|
Shareholders Parent Company(ies): |
|
|
|
This is a private company. The Phillips family are the major
shareholders. |
|
Management: |
|
|
|
ALAN M PHILLIPS, PRESIDENT MATTHEW PHILLIPS, MANAGER CARLA OGDEN, ACCOUNTS MANAGER |
|
Related Companies: |
|
|
|
The company has several subsidiaries: Phillips Engineering Technologies Phone: (905) 660 - 5055 PET Rm 2006, Tower no.2, Kerry Everbright, No. 218 Tianmu west road, Phone: 86 21 6353 485 Among others... |
Financials - COMMERCIAL TRENDS AND FORECAST
|
||
|
As a private company the subject does not publish any financial
statements. |
||
|
We have contacted the Finance and Accounting Department but could only
get a hold of a voicemail. Nobody has called us back. |
||
|
However our financial sources could provide us with the following data
(ESTIMATES): |
||
|
Currency |
DATE |
|
|
USD |
2009 |
|
|
Turnover |
10,000,000 |
|
|
The cash flow is |
|
|
|
Legal Fillings |
|
There are several UCC files listed with the Secretary of State of
Maryland. There are no legal filings listed with the District Court. For information: 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
|
|
|
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. |
|
|
Final Opinion |
|
|
|
This is a small sized A credit line may be considered for USD 200,000 |
SUMMARY
|
||||
|
|
|
|
||
|
Profitability |
CORRECT |
Public Records |
NO |
|
|
Indebtedness |
CONTROLLED |
Payments |
REGULAR |
|
|
Cash |
|
|
|
|
APPENDIX
|
|
|
Person Interviewed |
|
|
|
Voicemail |
|
Position |
|
|
|
Finance and Accounting Department |
|
Comments |
|
|
|
We have contacted the Finance and Accounting Department but could only
get a hold of their voicemail. We have left several messages, however nobody called us back. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.99 |
|
|
1 |
Rs.73.24 |
|
Euro |
1 |
Rs.62.80 |
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 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.