MIRA
INFORM REPORT
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Report Date : |
20.05.2011 |
IDENTIFICATION DETAILS
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Name : |
S B TECHNIK |
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Registered
Office : |
37 East Madha Church Street,Royapuram, Chennai - 600013, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1998 |
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Capital
Investment / Paid-up Capital : |
EURO 54,000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Ship Repairing and Consultancy |
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No. of Employees
: |
06 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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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Maximum Credit Limit : |
EURO 10,800 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern having satisfactory track. Trade relations
are reported as fair. Business is active. Payment are reported to be usually
correct and as per commitments. The concern can be considered normal for 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 : |
Ms. Vijayalaxmi |
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Designation : |
Office Assistant |
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Contact No.: |
91-44-25970590 |
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Date : |
17.05.2011 |
LOCATIONS
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Registered Office/Factory : |
37 East Madha Church Street,Royapuram, Chennai 600 013, Chennai,
Tamilnadu, India |
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Tel. No.: |
91-44-25970590 |
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Fax No.: |
91-44-25970590 |
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E-Mail : |
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Website : |
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Branches : |
They have operations in the following port cities but not branches only agents who procure orders and the firm executes them: · Cochin · Visakapatinam · Ennore · Kakinada · Goa |
SOLE PROPRIETOR
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Name : |
Mr. Ramesh Selvraj |
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Designation : |
Proprietor |
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Qualification : |
B. E. Electrical |
KEY EXECUTIVES
|
Name : |
Ms. Vijayalaxmi |
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Designation : |
Office Assistance |
BUSINESS DETAILS
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Line of Business : |
Ship Repairing and Consultancy |
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Products : |
Ship repair
services · All types marine and other Diesel Engine and Diesel Alternators · All Types Deck Machinery and Winches · General Fabrications/ Pipe Fitting and all machining works. · Out fitting lagging and fiber glass work. · All types of pumps, compressor and machinery works, valves, pipelines and blowers. · All types of AC plants and Refrigeration with all auxiliary systems. · Upholstery, wood polishing and canvas works on board Indian and Foreign Ships. · They undertake Electrical Repairs ·
Fire Fighting
services The Fire
Fighting System and Equipments. · Inspection, Servicing and Certification on Board Ships, Oil Rigs and shore Industries. · Hydraulic Testing and Servicing of Fixed Fire Fighting Installations CO2 foam and Halon systems. · Portable Fire Extinguishers, Hydraulic Pressure Test and Service, Hydraulic Testing and Servicing. · Hydraulic Testing and Servicing of Breathing Air Cylinders, masks and servicing of related equipments for FFA and LSA Including filling of SCBA Bottles. · Liquid Level Indicator method for weighment of Fixed CO2 / Foam System on the ships resulting in Cost Saving and Tim. Testing Services · All types of Non-Flammable, Non-toxic Cylinders of Industries · All types of Non-Flammable, Non-toxic Cylinders of ships. · Hydraulic testing of SCBA Cylinders. Refilling
services · Refilling of air cylinders · Refilling of Co2 cylinders · Refilling of Oxygen cylinders |
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Terms : |
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Selling : |
L/C, Cash, Credit (30 days, 60
days, 90 days) |
GENERAL INFORMATION
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Customers : |
· End Users · Shipping Corporation of India · South India Corporation · Gati Coast to Coast · Ennore Port Trust · A.S. Shipping Agencies Private Limited · TCI Seaways Limited · Indian Navy · Vamsee Shipping Carrier Private Limited · Tsakos Shipping · Colombia Shipping Management · Bengal Tiger Lines · Peninsula Maritime · Sea Line Sparkle Limited, · Executive Ship Management · Great Eastern Shipping Company Limited · Cobalt Marine (Greece) · Trust Marine · Adsteam Agencies India. · Malaysian Merchant Marine Berhad · ESSJEE Enterprises · Oskar Wehr Reederei KG · SHM Ship Care · Seaport Shipping Private Limited · Pacific Basin Shipping (HK) Limited · Chakalov Shipping Limited- Norway · Sosltad Shipping AS (Norway) · Fleet Management Europe Limited, (London) · Essar Logistics Limited- Hazira · Orient Express Ship Management Limited (Mumbai) · Ind-Aust Maritime Limited- Mumbai |
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No. of Employees : |
06 |
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Bankers : |
South Indian Bank Limited, Royapuram, Chennai |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
EURO 54,000 |
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Borrowed : |
-- |
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Total : |
EURO 54,000 |
FINANCIAL DATA
|
Particulars |
|
|
31.03.2010 |
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Sales Turnover (Approximately) |
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|
EURO 311,000 |
The above information has been parted by Ms. Vijayalakshmi
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
PROFILE:
This is a proprietorship firm that was started in 1998 by Mr. Selvaraj Ramesh. Now, Mr. Ramesh who is the proprietor and the Managing Director of the firm is a Electrical Engineer who underwent a Marine Training course to become a qualified Marine Engineer and joined the merchant navy to subsequently become a Chief engineer. He served aboard various Indian and Foreign Vessels and has a vast amount of experience amounting to 25 years in the Marine filed. He was involved in the ship repair on his voyages and in 1998 he decided to become a entrepreneur and this lead to the setting up of subject to provide good quality ship repair and marine engineering consultancy services to the shipping industry and to the shore based industries like power plants etc.
Subject is an ISO accredited Ship repair organization rendering Mechanical, electrical and Safety equipment services to Indian and foreign shipping companies in the Southern part of India that is Chennai, Ennore, Tuticorin, Visakapatinam, Kakinada, Cochin etc. Subject is an organization, approved by Directorate General of Shipping, LLYODS Register of Shipping, BVQI and Det Norske Veritas (DNV) actively involving in the testing and servicing of Fixed Fire Fighting Installation, Portable Fire extinguishers, testing and servicing of breathing Air Cylinders, masks and servicing of related equipments for FFA.
Their bankers are The South Indian Bank Limited and they claim that their turnover for the year 2010 was Rs.20.000 Millions approx. There is no way to assess the financial strength of the firm and caution advised in all financial transactions with them. Their sister firm S B Vignesh maritime Institute started in 2002 for training marine engineers for a career on ships has been closed due to operational difficulties. There is a website for them and the website has not been closed. So please do not be mislead that the institute is still open.
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.44.98 |
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|
1 |
Rs.72.68 |
|
Euro |
1 |
Rs.64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
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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 |
|
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 |
|
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.