MIRA
INFORM REPORT
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Report Date : |
24.07.2012 |
IDENTIFICATION DETAILS
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Name : |
PARPIA INTERNATIONAL PTE LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.03.1989 |
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Com. Reg. No.: |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
Import & Export Of Leather & Leather Goods |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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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Status : |
Satisfactory |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Singapore |
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 |
Contact Points
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Company
Name: |
PARPIA
INTERNATIONAL PTE LTD |
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Supplied
Name: |
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Supplied
Address: |
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Fax
Number: |
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Notes: Subject’s exact name and address are as above.
Company
Identification Details
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Registered
Name: |
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Registered
Address: |
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Date
of Registration:: |
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Registered
Number: |
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Country
of Incorporation: |
Singapore |
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Registered
Capital: |
SGD
1,000,000 (USD 794,000) (As
of 2012.07, 1 SGD = 0.794 USD) |
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Paid-up
Capital: |
SGD
1,000,000 (USD 794,000) =
1,000,000 Shares@1 SGD |
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Legal
Form: |
Limited
Exempt Private Company |
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Principal
Activities: |
46900--General
Wholesale Trade (Including General Importers And Exporters) 46692--Import
& Export Of Leather & Leather Goods |
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N/A |
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Status: |
Live
Company |
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Listed
at Stock Exchange: |
No |
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Date
of Last Annual Return: |
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Notes:
The staff information is not available from subject or other
sources.
History
Subject
was incorporated on
Change of Name:
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Date
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Change
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PARPIA INTERNATIONAL (SINGAPORE) PTE LTD |
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PARPIA INTERNATIONAL PTE LTD |
Shareholders
The information of subject’s major shareholders is as follows:
|
Subscription
Amount |
Proportion
of Investment (%) |
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550,000 |
55% |
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Shaha
Altaf Parpia |
150,000 |
15% |
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Total |
700,000 |
70% |
Major
Shareholder Information:
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1 |
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Name: |
Altaf Hussain Parpia |
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ID Number: |
S |
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Address: |
1 Ewart Park Ewart Park Singapore
279727 |
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2 |
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Name: |
Shaha Altaf Parpia |
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ID Number: |
S2581413D |
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Address: |
1 Ewart Park Ewart Park Singapore
279727 |
We can not obtain the information of all the shareholders from subject or other sources.
Subsidiaries &
Branches
Related Offices
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1 |
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Name: |
China Office |
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Address: |
14th Floor, Unit 1403 West
Tower, No. 138 Zhongshan Da Dao Xi Guangzhou 510630, China |
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Tel |
+86-20-3876-7008/7307 |
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Fax |
+86-20-3876-7136 |
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2 |
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Name: |
Hong Kong Office |
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Address: |
Unit 26 & 36, 10/F Metro Centre II
21 Lam Hong Street, Kowloon Bay, Kowloon, Hong Kong |
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Tel |
+852-2305-1683 |
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Fax |
+852-2757-5898 |
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3 |
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Name: |
India Office |
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Address: |
No. 38/4, Murugesan Street,
Kodambakkam Chennai 600 024, India |
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Tel |
+91-44-3058-5860 |
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Fax |
+91-44-3058-5868 |
Management
Information
Detailed Information of Management:
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1 |
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Name: |
Altaf Hussain Parpia |
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Position: |
Director |
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ID Number: |
S |
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Address: |
1 Ewart Park Ewart Park Singapore
279727 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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2 |
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Name: |
Shaha Altaf Parpia |
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Position: |
Director |
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ID Number: |
S2581413D |
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Address: |
1 Ewart Park Ewart Park Singapore
279727 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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3 |
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Name: |
Chan Lai Yin |
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Position: |
Secretary |
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ID Number: |
S1296164B |
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Address: |
349 Woodlands Avenue 3 #13-51 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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Operation
Information
Offices &
Factories
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Office |
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Address: |
Production
Information
l
Subject is a trader of finished and
crust leathers without production activities.
l
The products are produced by subject’s associated
tanneries in
Purchase
Information
l
Subject purchases finished and crust
leathers mainly abroad and subject is the exclusive distributor for several
premier tanneries in India, Pakistan, Bangladesh and Brazil.
Sales
Information
l
Subject is engaged in sales of finished
and crust leathers.
l
Subject’s major products include:
full-chrome and vegetable tanned glazed upper kid, suede upper kid, glazed and
burnishable buffcalf shoe upper and handbag leathers, sheep garment nappa, goat
garment suede, sheep cabretta shoe upper leather, cow and cowcalf upper
leathers in various finishes, cow and goat linings in drum-dyed, glazed and
resin finishes. The company also specializes in printed heavy buffalo for
industrial footwear, cow and buffalo leathers for upholstery and sole leather.
l
Subject’s products are applied to shoe,
handbag and leather garment manufacturing.
l
Subject’s products are both sold in
domestic and overseas market and it exports to Europe, Asia, Africa, Australia,
North and South America.
Settlements
Purchase
Domestic Markets
Subject
has little domestic sales
Overseas Markets
|
Products
|
Payment Terms |
Proportion |
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Finished
And Crust Leathers |
CBD, Credit Sales, etc |
100% |
Domestic Markets
|
Sales
Terms |
Proportion |
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|
Finished And Crust Leathers |
CBD,
etc |
100% |
Overseas Markets
|
Product |
Sales
Terms |
Proportion |
|
Finished And Crust Leathers |
CBD,
etc |
100% |
Financial
Information
In Singapore, Limited Exempt Private Companies are not obligated
to submit their financial statements to the local registry. We did not find the
financial information of subject from the local registry, the subject also
declined to disclose such information due to the confidentiality reason.
Bankers
Subject did not
introduce its bank details, from other source we can not obtain the relevant
information, either.
Auditors
|
Name: |
SK LAI LLP |
Interview
Details
|
Department: |
Sales
department |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.76 |
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|
1 |
Rs.86.79 |
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Euro |
1 |
Rs.67.43 |
INFORMATION DETAILS
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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.