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Report Date : |
07.04.2012 |
IDENTIFICATION DETAILS
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Name : |
GRAND PALM INTERNATIONAL |
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Registered
Office : |
45, Vijayalakshmi Nagar, Nelikonampalayam Road, Varatharajapuram,
Coimbatore-641014, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2011 (Approximately) |
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Year of
Establishment : |
1930 |
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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
: |
The firm is engaged in the cultivation and sales of Palm Trees, Date
Palm plant, Bottle Palm tree, rose plants, Grand red roses, |
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No. of Employees
: |
2 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 : |
-- |
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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 Proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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
|
Name : |
Mr. S Mohammed |
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Designation : |
CEO |
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Contact No.: |
91-9500908433 |
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Date : |
19.03.2012 |
LOCATIONS
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Registered Office/ Factory : |
45, Vijayalakshmi Nagar, Nelikonampalayam Road, Varatharajapuram,
Coimbatore-641014, Tamilnadu, India |
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Tel. No.: |
91-4320-241800 |
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Fax No.: |
91-4320-241015 |
SOLE PROPRIETOR
|
Name : |
Korayuth Sakkri Ramzan Begum |
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Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. S Mohammed |
|
Designation : |
CEO |
BUSINESS DETAILS
|
Line of Business : |
The firm is engaged in the cultivation and sales of Palm Trees, Date
Palm plant, Bottle Palm tree, rose plants, Grand red roses, Phoenix, sylvestris |
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Exports : |
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Products : |
Trees, plants, roses and flowers, Bonsai plants and trees |
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Countries : |
USA, UK, Gulf Countries, African Countries |
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Terms : |
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Selling : |
L/C, Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users |
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No. of Employees : |
2 (Approximately) |
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Bankers : |
·
ICICI Bank, Coimbatore ·
Axis Bank, Coimbatore |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Not Available |
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Associates/Subsidiaries : |
Green Palm Company No. 413, Sivasakthi Towers,
Palghat Main Road, Kuniyamuthur, Coimbatore-641008, Tamil Nadu, India Tel. No.: 91-422-2419060 Fax No.: 91-422-2419060 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
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31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
30.000 |
The above information has been parted by Mr. S Mohammed (CEO)
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
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Check List by
Info Agents |
Available in
Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter's background |
No |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes (1 Year) |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
No |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
-- |
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29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
-- |
Profile:
This is a proprietorship firm. The proprietor is Korayuth Sakkri Ramzan Begum. The firm is a family firm and was started in 1930. The firm was started by the Late K S K Mohammed Haneef. The firm was founded with a vision to tap the market for roses and decorative plants in India and to expand its reach across the globe. From very humble beginnings the firm as flourished and grown. The late Mr Haneef participated in flower shows and has won national awards. The firm is one of the oldest firms in the industry. The firm is engaged in the cultivation and sales of Palm Trees, Date Palm plant, Bottle Palm tree, rose plants, Grand red roses, Phoenix, sylvestris. They also offer desiccated coconut power, flower plants, bougainvilleas, seasonal flowers and bonsai trees. They do large scale cultivation. They have a team of horticulturists to keep a strict vigil on quality. The area they have put under cultivation is over 300 acres. They have their own state of the art facilities for non-stop water supply, power back up and best quality plants. They use modern agricultural implements like Agricultural discs, cultivators, cleaning machines, fogging machines, harrows, levelers, ploughs, rotary tillers, rotary slashers, motor mist sprayers etc.
Their main markets for export are East/West/ and South Africa, Caribben, East Asia, South America, Middle East, North Europe etc. They employ contract labor in their fields and have only 2 permanent staff. Their turnover is Rs.30.000 millions a year and their bankers are ICICI Bank, Axis Bank, Coimbatore.. The CEO of the firm is Mr. Sakkri Mohammed. He is all in all in the firm. He looks after the administration and sales. He has good contacts in the Gulf region and brings in a lot of orders from there.
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.51.04 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
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 |
|
46 |
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.