1. Summary Information
|
|
|
Country |
|
|
Company Name |
USI SERVICE
CENTER PRIVATE LIMITED |
Principal Name 1 |
KYUBO SHIM |
|
Status |
NEW COMPANY |
Principal Name 2 |
YOUNG WOOK HAN |
|
|
|
Registration # |
20-043178 |
|
Street Address |
B-18, LOWER
GROUND FLOOR, EXPRESS GREEN, SECTOR - 44, NOIDA – 201 301, UTTAR PRADESH |
||
|
Established Date |
13.01.2011 |
SIC Code |
-- |
|
Telephone# |
91-11-49205002 |
Business Style 1 |
THE COMPANY PROPOSES TO BE ENGAGED IN BUSINESS OF
PROCESSING COLD ROLLED STEEL, GALVANIZED STEEL ETC. |
|
Fax # |
NOT AVAILABLE |
Business Style 2 |
-- |
|
Homepage |
NOT AVAILABLE |
Product Name 1 |
-- |
|
# of employees |
NOT AVAILABLE |
Product Name 2 |
-- |
|
Paid up capital |
RS.100,000/- |
Product Name 3 |
-- |
|
Shareholders |
FOREIGN HOLDINGS-100% |
Banking |
NOT AVAILABLE |
|
Public Limited Corp. |
NO |
Business Period |
1 YEAR |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ca
(13) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
HOLDING COMPANY |
|
UNION STEEL COMPANY LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
304,966,000 |
Current Liabilities |
4,281,000 |
|
Inventories |
0,000 |
Long-term Liabilities |
0,000 |
|
Fixed Assets |
1,604,000 |
Other Liabilities |
0,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
4,281,000 |
|
Invest& other Assets |
5,218,000 |
Retained Earnings |
0,000 |
|
|
|
Net Worth |
307,507,000 |
|
Total Assets |
311,788,000 |
Total Liab. & Equity |
311,788,000 |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
NA |
Net Profit |
NA |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
30.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
USI SERVICE CENTER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-18, Lower Ground Floor, Express Green, Sector - 44, Noida – 201 301,
Uttar Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.01.2011 |
|
|
|
|
Com. Reg. No.: |
20-043178 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.100
million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36998UP2011PTC043178 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRTU01397E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCU2588B |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
The Company proposes to be engaged in business of processing cold
rolled steel, galvanized steel etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
New Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new company and yet to commence its business
activities. Payments are unknown. The company can be considered for business dealings on a safe and secured
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 : |
B-18, Lower Ground Floor, Express Green, Sector - 44, Noida – 201 301,
|
|
Tel. No.: |
91-11-49205002 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.11.2011
|
Name : |
Kyubo Shim |
||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||
|
Address : |
Yeonsan LG APT., 117-1304 243-18, Yeonsan – Dong, Busan Metropolitan, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
20.11.1965 |
||||||||||||||||||||||||
|
Date of Appointment : |
13.01.2011 |
||||||||||||||||||||||||
|
DIN No.: |
03318591 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Name : |
Young Wook Han |
||||||||||||||||||||||||
|
Designation : |
Additional Director |
||||||||||||||||||||||||
|
Address : |
Flat No.1301, Sea Court, 3, Jaypee Greens, G-Block, |
||||||||||||||||||||||||
|
Date of Birth/Age : |
14.09.1978 |
||||||||||||||||||||||||
|
Date of Appointment : |
01.06.2011 |
||||||||||||||||||||||||
|
DIN No.: |
03546635 |
||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.11.2011
|
Names of Shareholders |
|
No. of Shares |
|
Union Steel Company Limited, |
|
9233670 |
|
GS Global Corporation, |
|
3072600 |
|
Total
|
|
12306270 |
As on 10.02.2012
|
Names of Allottees |
|
No. of Shares |
|
Union Steel Company Limited, |
|
12359160 |
|
GS Global Corporation, |
|
4119720 |
|
Total
|
|
16478880 |
As on 30.11.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company proposes to be engaged in business of processing cold
rolled steel, galvanized steel etc. |
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kapil Mittal and Associates Chartered Accountants |
|
Address : |
G-506, Rashmi Apartments, Harsh Vihar, |
|
Tel. No.: |
91-11-47096562 |
|
Income-tax
PAN of auditor or auditor's firm : |
AKKPM0950D |
|
|
|
|
Holding Company : |
Union Steel
Company Limited Address: 6FL, |
CAPITAL STRUCTURE
After 30.11.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70000000 |
Equity Shares |
Rs.10/- each |
Rs.700.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
28785150 |
Equity Shares |
Rs.10/- each |
Rs.287.852
millions |
|
|
|
|
|
As on 30.11.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70000000 |
Equity Shares |
Rs.10/- each |
Rs.700.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12306270 |
Equity Shares |
Rs.10/- each |
Rs.123.063
millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70000000 |
Equity Shares |
Rs.10/- each |
Rs.700.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
|
|
|
|
|
Out of above 7500 equity shares are held by Union Steel Company Limited, the holding company.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money (Pending Allotment) |
|
|
307.407 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
307.507 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
307.507 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.604 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
Preoperative Expenses (Pending Allocation) |
|
|
1.336 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
304.659 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.307 |
|
Total
Current Assets |
|
|
304.966 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
4.229 |
|
|
Other Current Liabilities |
|
|
0.052 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
4.281 |
|
|
Net Current Assets |
|
|
300.685 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
3.882 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
307.507 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
|
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
71.24 |
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 |
No |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
-- |
|
14) Estimation
for coming financial year |
No |
|
15) Capital in
the business |
Yes |
|
16) Details of sister
concerns |
Yes |
|
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 |
No |
|
24) Banking
facility details |
No |
|
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 |
NATURE OF
OPERATIONS:
The Company was established on 13th January, 2011 as a
private limited company under the provisions of the Companies Act, 1956. The Company
is jointly promoted by Union Steel Company Limited and GS Global Corporation by
way of a joint venture. The Company proposes to be engaged in business of
processing cold rolled steel, galvanized steel etc.
PERFORMANCE OF THE
COMPANY:
The Company has not started out any business operations and is still in
the process of setting up its facility. The Company has incurred an amount of
Rs.1.336 millions towards the pre-operative expenses and the same is pending
allocation.
FIXED ASSETS:
v Office Equipment
v Computers
v Vehicles
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 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.55.58 |
|
|
1 |
Rs.87.14 |
|
Euro |
1 |
Rs.69.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
13 |
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.