MIRA INFORM REPORT
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Report Date : |
13.01.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
SS COMMERCIAL INC. |
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Formerly Known As : |
SHIV SHAKTI COMMERCIAL INC. |
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Registered Office : |
Unit
2575 Ganesh Tower, Espiritu Street, Vito Cruz, Singalong, Manila |
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Country : |
Philippines |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
08.12.2005 |
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Com. Reg. No.: |
CS200520293 |
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Legal Form : |
Corporation |
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Line of Business : |
Importer and wholesaler
of household items and appliances. |
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|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 10,000 |
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|
Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Philippines |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Details
|
Company
Name: |
SS COMMERCIAL INC. |
|
Former
Name: |
SHIV SHAKTI COMMERCIAL INC. |
|
Supplied
Name: |
S S Commercial |
|
Trading Address: |
Unit 2575 Ganesh Tower, Espiritu Street, Vito
Cruz, Singalong, Manila, Philippines |
|
Supplied
Address: |
2575 Ganesh Tower Manila Philippines |
|
Telephone
Number: |
+63 02 523-6011; 523-3016; 523-1791; 376-2576 |
|
Fax Number: |
+63 02 523-6011 |
Note:
The supplied name and address are incomplete, and the exact name and
address are as above.
Credit Summary
|
Credit
Rating: |
Maximum
credit USD 10,000 |
|
Credit
Opinion: |
Business
connections are permissible. |
Company Identification Details
|
Registered
Number: |
CS200520293 |
|
Legal Form: |
Corporation |
|
Date
Incorporated: |
|
|
Authorized
Capital Stock: |
PHP 2,000,000.00
(USD 45,234.3) |
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Subscribed
Capital Stock: |
PHP 500,000.00 (USD 11,308.6) |
|
Paid-up Capital: |
PHP 500,000.00 (USD 11,308.6) (As of 2012.1, 1 PHP = 0.02262 USD) |
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Par Value Per
Share: |
PHP 100.00 |
|
Listed at Stock
Exchange: |
No |
|
Staff: |
N/A |
Note:
Amounts in Philippine Peso unless otherwise specified.
The staff number is not available from the subject or other sources.
History
Company Background
CORPORATION
Verification with
the local registry revealed the following correct registration details as of
(January 9, 2012).
|
Regulatory
Agency |
Date
Registered |
Registration
No. |
Term |
|
Securities
and Exchange Commission |
|
CS200520293 |
50 years |
Originally registered as Shiv Shakti Commercial Inc.
Present name was approved by the Securities and Exchange Commission on August
8, 2006.
|
Type |
Share (Unit: PHP) |
|
Authorized Capital |
2,000,000.00 |
|
Subscribed and Paid Up Capital |
500,000.00 |
|
Par Value |
100.00 |
Shareholders
Stockholders (
|
Name |
Subscribed and Paid Up (Unit: PHP) |
|
MOHNANI, DINESH A. |
100,000.00 |
|
MOHNANI, LEENA M. |
100,000.00 |
|
MOHNANI, MUKESH M. |
100,000.00 |
|
MOHNANI, MURLI T. |
100,000.00 |
|
MOHNANI, ROSANA A. |
100,000.00 |
Management Information
Management (
|
Name |
Position |
|
MOHNANI, MURLI T. 2575 Espiritu St., Vito Cruz, Manila |
Chairman / President |
|
MOHNANI, ROSANA A. 2575 Espiritu St., Vito Cruz, Manila |
Vice President / Treasurer / Director |
|
MOHNANI, MUKESH M. 2575 Espiritu St., Vito Cruz, Manila |
Corporate Secretary / Director |
|
MOHNANI, DINESH A. 2575 Espiritu St., Vito Cruz, Manila |
Director |
|
MOHNANI, LEENA M. 2575 Espiritu St., Vito Cruz, Manila |
Director |
Operation
|
Activities |
|
Importer and wholesaler of household items and appliances. |
|
Premises |
|
Location: Located at the capital address as above. |
Balance Sheet
Unit: PHP
|
Balance
Sheet |
|
|
|
Total Current Assets |
6,555,784.00 |
3,934,380.00 |
|
Cash |
1,263,780.00 |
960,590.00 |
|
Short Invest |
0.00 |
0.00 |
|
Receivable |
2,552,710.00 |
2,267,338.00 |
|
Inventory |
2,663,094.00 |
627,032.00 |
|
Other Current Assets |
76,200.00 |
79,420.00 |
|
Long Invest Total |
0.00 |
0.00 |
|
Long Invest Security |
0.00 |
0.00 |
|
Long Invest Equity |
0.00 |
0.00 |
|
Long Invest Other |
0.00 |
0.00 |
|
Fixed Assets Total |
738,466.00 |
207,108.00 |
|
Fixed Assets |
738,466.00 |
207,108.00 |
|
Depreciation Total |
0.00 |
0.00 |
|
Intangible Assets |
0.00 |
0.00 |
|
Other Assets |
85,900.00 |
137,522.00 |
|
Total Assets |
7,380,150.00 |
4,279,010.00 |
|
Total Current Debt |
5,995,075.00 |
3,351,362.00 |
|
Short Loan |
0.00 |
0.00 |
|
Accounts Payable |
4,362,130.00 |
2,706,917.00 |
|
Other Current Liability |
1,632,945.00 |
644,445.00 |
|
Long Liability Total |
0.00 |
0.00 |
|
Long Leases |
0.00 |
0.00 |
|
Long Loan |
0.00 |
0.00 |
|
Long Loan Other |
0.00 |
0.00 |
|
Total Liability |
5,995,075.00 |
3,351,362.00 |
|
Total Equity |
1,385,075.00 |
927,648.00 |
|
Share Capital |
500,000.00 |
500,000.00 |
|
Capital Paid |
0.00 |
0.00 |
|
Legal Reserve |
0.00 |
0.00 |
|
Surplus Reserve |
0.00 |
0.00 |
|
Undistributed Profit |
0.00 |
0.00 |
|
Retained Earning |
885,075.00 |
427,648.00 |
|
Other Equity |
0.00 |
0.00 |
|
Total Liability And Equity |
7,380,150.00 |
4,279,010.00 |
Profit/ Loss Accounts
Unit: PHP
|
|
2010 |
2009 |
|
Operating Revenue |
0.00 |
0.00 |
|
Sales Revenue |
32,519,350.00 |
24,292,913.00 |
|
Interest Revenue |
0.00 |
0.00 |
|
Other Revenue |
0.00 |
0.00 |
|
Total Revenue |
32,519,350.00 |
24,292,913.00 |
|
Sales Cost |
23,340,023.00 |
17,254,297.00 |
|
Gross Profit |
9,179,327.00 |
7,038,616.00 |
|
Sales Expenses |
0.00 |
0.00 |
|
Management Expenses |
8,525,860.00 |
6,698,451.00 |
|
Financial Expenses |
0.00 |
42,998.00 |
|
Total Expenses |
31,865,883.00 |
23,995,746.00 |
|
Operating Profit |
653,467.00 |
297,167.00 |
|
Non Operating Profit |
0.00 |
0.00 |
|
Profit Before Tax |
653,467.00 |
297,167.00 |
|
Tax |
196,040.00 |
89,150.00 |
|
Net Profit |
457,427.00 |
208,017.00 |
Cash Flow
|
|
2010 |
2009 |
|
Operating Net Cash |
-192,052.00 |
161,243.00 |
|
Investment Net Cash |
-559,600.00 |
0.00 |
|
Finance Net Cash |
1,051,622.00 |
-51,622.00 |
Bankers
Banco de Oro Unibank, Inc.
Public
No negative
records (court cases, credit cards cancelled and delinquent accounts) found
under the names “SS COMMERCIAL INC. / SHIV SHAKTI COMMERCIAL INC.” in our
available database as of January 9, 2012.
Special Note
Above information were based on the subject’s 2011 General Information
Sheet, the latest available at the Securities and Exchange Commission.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.83 |
|
UK Pound |
1 |
Rs.79.42 |
|
Euro |
1 |
Rs.65.90 |
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 |
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NB |
New Business |
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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.