1. Summary Information
|
|
|
Country |
|
|
Company Name |
SHINKWANG
ELECTRONICS PRIVATE LIMITED |
Principal Name 1 |
MR. KWANG IL LEE |
|
Status |
SATISFACTORY |
Principal Name 2 |
KWANG HO PARK |
|
|
|
Registration # |
55-144620 |
|
Street Address |
1/24, |
||
|
Established Date |
10.01.2006 |
SIC Code |
-- |
|
Telephone# |
91-11-23234552 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
NOT AVAILABLE |
Business Style 2 |
-- |
|
Homepage |
NOT AVAILABLE |
Product Name 1 |
PLASTIC MOULD COMPONENTS |
|
# of employees |
NOT AVAILABLE |
Product Name 2 |
-- |
|
Paid up capital |
RS.17,700,000/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS OR RELATIVES OF DIRECTORS – 100% |
Banking |
AXIS BANK
LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
5 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
32,148,000
|
Current Liabilities |
26,671,000
|
|
Inventories |
4,130,000
|
Long-term Liabilities |
9,652,000 |
|
Fixed Assets |
53,997,000 |
Other Liabilities |
3,784,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
40,107,000 |
|
Invest& other Assets |
4,833,000 |
Retained Earnings |
13,816,000 |
|
|
|
Net Worth |
55,001,000 |
|
Total Assets |
95,108,000 |
Total Liab. & Equity |
95,108,000 |
|
Total Assets (Previous Year) |
73,299,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
135,260,000 |
Net Profit |
7,600,000 |
|
Sales(Previous yr) |
90,906,000 |
Net Profit(Prev.yr) |
6,698,000 |
MIRA INFORM
REPORT
|
Report Date : |
28.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHINKWANG ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1/24, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.01.2006 |
|
|
|
|
Com. Reg. No.: |
55-144620 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.17.700
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U32109DL2006PTC144620 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS29417D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS5552M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of
Plastic Mould Components. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 220000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track. Trade relations are reported
as fair. Business is active. Payments are reported to be usually correct and
as per commitments. The company 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
1/24, |
|
Tel. No.: |
91-11-23234552 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Kwang Il Lee |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
701, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
25.12.1962 |
||||||||||||||||||||||||
|
Date of Appointment : |
10.01.2006 |
||||||||||||||||||||||||
|
DIN No.: |
02042458 |
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|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Kwang Ho Park |
||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||
|
Address : |
2, Embleton Grove, Wynyard, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
01.12.1965 |
||||||||||||||||||||||||
|
Date of Appointment : |
01.10.2011 |
||||||||||||||||||||||||
|
DIN No.: |
03580601 |
||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
1769999 |
|
|
|
1 |
|
Total |
|
1770000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Plastic Mould Components. |
|
|
|
|
Products : |
Plastic Mould Components |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Description |
Installed capacities,
per annum, as provided by the management - in nos. |
|
2010-2011 |
|
|
Plastic Mould Components for - |
|
|
Front Panel - Set Top Box |
3,00,000 |
|
TV Remote Cover |
-- |
|
Home Theater Woffer Front |
3,00,000 |
|
Air-conditioner Control Box Cover |
22,00,000 |
|
Parts for Medical Equipment |
11,00,00,000 |
|
Washing Machines |
30,00,000 |
|
Description |
Actual Production Quantity Nos. |
|
Plastic Mould Components for - |
|
|
Front Panel - Set Top Box |
4,83,801 |
|
TV Remote Cover |
-- |
|
Home Theater Woffer Front |
2,37,296 |
|
Air-conditioner Control Box Cover |
18,80,920 |
|
Parts for Medical Equipment |
10,33,31,684 |
|
Washing Machines |
27,90,951 |
|
Refrigerators |
-- |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
Axis Bank Limited,
G-04, G-05, G-06, G-17, G-18, F-03, F-04, D-1, Alpha Commercial Belt-1,
Greater Noida – 201 308, |
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
VA Mehta and Company Chartered Accountants |
|
Address : |
409-409A, 4th Floor, |
|
Tel. No.: |
91-11-26470003 |
|
Fax No.: |
91-11-46705533 |
|
E-Mail: |
|
|
Website : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPM4504D |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1770000 |
Equity Shares |
Rs.10/- each |
Rs.17.700
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
17.700 |
17.700 |
17.700 |
|
|
2] Share Application Money |
23.485 |
23.485 |
23.485 |
|
|
3] Reserves & Surplus |
13.816 |
6.216 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.483) |
|
|
NETWORTH |
55.001 |
47.401 |
40.702 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
9.652 |
9.759 |
10.980 |
|
|
TOTAL BORROWING |
9.652 |
9.759 |
10.980 |
|
|
DEFERRED TAX LIABILITIES |
3.783 |
3.393 |
0.185 |
|
|
|
|
|
|
|
|
TOTAL |
68.436 |
60.553 |
51.867 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
53.997 |
23.671 |
21.950 |
|
|
Capital work-in-progress |
4.833 |
20.270 |
18.720 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.130
|
4.154 |
2.694 |
|
|
Sundry Debtors |
18.659
|
13.808 |
12.810 |
|
|
Cash & Bank Balances |
4.582
|
9.356 |
4.284 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
8.907
|
2.033 |
8.372 |
|
Total
Current Assets |
36.278
|
29.351 |
28.160 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
25.144
|
11.978 |
15.266 |
|
|
Other Current Liabilities |
1.527
|
0.767 |
1.327 |
|
|
Provisions |
0.001
|
0.001 |
0.383 |
|
Total
Current Liabilities |
26.672
|
12.746 |
16.976 |
|
|
Net Current Assets |
9.606
|
16.605 |
11.184 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.007 |
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
68.436 |
60.553 |
51.867 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
135.260 |
90.906 |
66.030 |
|
|
|
Other Income |
0.288 |
NA |
1.331 |
|
|
|
TOTAL |
135.548 |
NA |
67.361 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
125.658 |
NA |
65.030 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
125.658 |
NA |
65.030 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.890 |
12.166 |
2.331 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.290 |
5.468 |
1.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.600 |
6.698 |
1.182 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2.267 |
0.587 |
0.000 |
|
|
|
Capital Goods |
3.795 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
6.062 |
0.587 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.29 |
3.78 |
0.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.61
|
NA |
1.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.31
|
13.38 |
3.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.96
|
22.95 |
4.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.26 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.66
|
0.47 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
2.30 |
1.66 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the firm |
Yes |
|
3) Constitutions
of the firm |
Yes |
|
4) Premises
details |
No |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
Yes |
|
8) No. of
employees |
No |
|
9) Name of person
contacted |
No |
|
10) Designation
of contact person |
No |
|
11) Turnover of
firm for last three years |
Yes |
|
12) Profitability
for last three years |
Yes |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
No |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
No |
|
20) Export /
Import details (if applicable) |
No |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
Yes |
|
25) Conduct of
the banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
Yes |
|
28) Incorporation
details, if applicable |
Yes |
|
29) Last accounts
filed at ROC |
Yes |
|
30) Major
Shareholders, if available |
Yes |
Note:
The registered office of the company has been shifted from B-8/14, Ist Floor, Vasant Kunj Vihar, New Delhi – 110 057 to the
present address w.e.f. 17.04.2007.
CONTINGENT
LIABILITIES: (As on 31.03.2011)
v Contingent liabilities for bank guarantee is of Rs.0.100 million. Taxation matters in respect of which appeals are pending - Rs.0.021 million.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U32109DL2006PTC144620 |
|
Name of the
company |
SHINKWANG ELECTRONICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1/24, E-Mail: lalit@vamco.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable Property
(not being pledge) Floating Charge Others (Charge on
Present and Future fixed assets of the company) |
|
Particular of
charge holder |
Axis Bank Limited,
G-04, G-05, G-06, G-17, G-18, F-03, F-04, D-1, Alpha Commercial Belt-1,
Greater Noida – 201 308, E-Mail: pooja.agarwal@axisbank.com |
|
Nature of description
of the instrument creating or modifying the charge |
Sanction Letter
No. AXISB/DELSME II/2011-12/15650 dated 13.03.2012, deed of hypothecation of
machinery and other moveable fixed assets dated 15.03.2012 |
|
Date of
instrument Creating the charge |
15.03.2012 |
|
Amount secured by
the charge |
Rs.69.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: On Term Loan:
Axis Bank base rate + 2.75% i.e. presently 12.75% p.a. at monthly rests. Terms of
Repayment: Term Loan - 60
monthly installments of Rs.1.150 millions each starting from January 2013 Margin: Term Loan -
50.59% Extent and
Operation of the charge: The charge of
Axis Bank Limited shall operate for the Term Loan limits of Rs.69.000
millions sanctioned to the Company, together with interest, commission, legal
and other costs etc. related to or incidental to the security charged. |
|
Short particulars
of the property charged |
Exclusive first
charge on entire moveable fixed assets of the company both present and future
other than those purchased on hire purchase basis. |
FIXED ASSETS:
v Land
v Building
v Office Equipments
v Computers
v Electrical Installation
v Plant and Machinery
v Furniture and Fixtures
v Temporary Shed
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.55.73 |
|
|
1 |
Rs.87.26 |
|
Euro |
1 |
Rs.69.89 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.