MIRA
INFORM REPORT
|
Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
UOP INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No. 2 A, Malviya Nagar Corner Market, Malviya Nagar, New
Delhi-110017, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
23.04.1999 |
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Com. Reg. No.: |
55-099471 |
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Capital
Investment / Paid-up Capital : |
Rs. 29.509 Millions |
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CIN No.: [Company
Identification No.] |
U74210DL1999PTC099471 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELU01557D |
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PAN No.: [Permanent
Account No.] |
AAACU2687E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in the business as Provider of Engineering and Consultancy Services to the Oil and Gas Industries and other Group Companies. |
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No. of Employees : |
50 (Approximately) |
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RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 4700000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a subsidiary of UOP LLC, US. It is a well established company having a good track record. There appears
sharp fall in its sales turnover and profitability during the year 2011-2012 However, general financial position of the company appears to be good.
Networth seems to be strong. The promoters appear to be well experienced. The subject gets good support from its group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
INDIAN ECONOMIC OVERVIEW
We are living in a
world where volatility and uncertainty have become the New Normal. We saw
a change of government in countries like Tunisia, Egypt, Libya and Vietnam.
Once powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years respectively.
By 2020, emerging Asia will become the world’s largest consuming block,
overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY [General Details]
|
Name : |
Mr. Padam Dabas |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-124-4031361 |
|
Date : |
12.08.2013 |
LOCATIONS
|
Registered Office : |
Plot No. 2 A, 1st Floor, Malviya Nagar Corner Market,
Malviya Nagar, New Delhi-110017, |
|
Tel. No.: |
91-124-5031361 / 4031361-65 / 4153012 / 6753012 |
|
Fax No.: |
91-124-5031369 / 4031369-70 |
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E-Mail : |
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Head Office : |
UOP LLC |
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Factory : |
Industrial Park, Pace City-II, Sector-36, Gurgaon-122004, |
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Tel. No.: |
91-124-24373288 / 91 |
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Fax No.: |
91-124-24373283/84 |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Marek Stefn Karol Turowicz |
|
Designation : |
Managing Director |
|
Address : |
Sundaram Farms, |
|
Date of Birth/Age : |
26.02.1955 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
01782692 |
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|
Name : |
Mr. Kartik Suryanarayanan |
|
Designation : |
Director |
|
Address : |
N: 4: 27, Phase: II, |
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Date of Birth/Age : |
16.08.1967 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
02976063 |
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|
Name : |
Mr. Raman Chopra |
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Designation : |
Director |
|
Address : |
L : 10, Lajpat Nagar: III, New Delhi-110024, India |
|
Date of Birth/Age : |
13.10.1954 |
|
Date of Appointment : |
18.08.2011 |
|
DIN No.: |
01710334 |
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|
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|
Name : |
Mr. Glen William Davies (Foreigner) |
|
Designation : |
Director |
|
Address : |
UOP Limited, Liongate, Lady mead, Guildford, Surrey GU1 1AT, UK |
|
Date of Appointment : |
20.11.2001 |
|
DIN No.: |
01782697 |
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|
|
Name : |
Mr. Simon Hallifax Hobbs |
|
Designation : |
Director |
|
Address : |
Honeywell International, 708, |
|
Date of Birth/Age : |
28.11.1953 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
02976155 |
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|
Name : |
Mr. Arthur Athanasios Fourtstizis (Foreigner) |
|
Designation : |
Director |
|
Address : |
Satyam Farm, Triveri Estate, Gadaipur, |
|
Date of Birth/Age : |
08.09.1957 |
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Date of Appointment : |
01.12.2009 |
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Date of Change / Resignation : |
18.03.2005 |
|
DIN No.: |
02976209 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
No. of Shares |
|
UOP LLC, USA |
2950907 |
|
UOP Process International N. A., USA |
1 |
|
Total |
2950908 |
AS ON 30.09.2012
|
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 : |
Subject is engaged in the business as Provider of Engineering
and Consultancy Services to the Oil and Gas Industries and other Group
Companies. |
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Products : |
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Terms : |
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Selling : |
LC and Credit |
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Purchasing : |
LC and Credit |
GENERAL INFORMATION
|
No. of Employees : |
50 (Approximately) |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
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Address : |
8th Floor, Building No.8, DLF,Phase II, Gurgoan – 122002,
Haryana, India |
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Pan No.: |
AAEFP3641G |
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Holding Company : |
UOP LLC, USA |
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Ultimate Holding Company: |
Honeywell Inc, USA |
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Fellow Subsidiaries : |
·
UOP NV, USA ·
UOP Limited, UK ·
UOP Process International N. A., USA ·
UOP Limited, UK ·
UOP NV, Belgium ·
UOP Antwerp, Belgium ·
UOP Malaysia, Malaysia ·
UOP Asia pacific Pte Limited, Japan ·
Honeywell International India Private Limited (CIN U74899DL1995PTC071592) ·
Honeywell China Company Limited, China ·
Honeywell Pte Limited, Singapore ·
Honeywell Australia Limited, Australia ·
Honeywell Automation India Limited, India (CIN L29299PN1984PLC017951) |
CAPITAL STRUCTURE
As on 01.08.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2950908 |
Equity Shares |
Rs.10/- each |
Rs.29.509
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
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(a) Share Capital |
|
29.509 |
29.509 |
|
(b) Reserves & Surplus |
|
1163.245 |
1053.390 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
1192.754 |
1082.899 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
550.000 |
0.000 |
|
(b)
Trade payables |
|
318.494 |
295.691 |
|
(c)
Other current liabilities |
|
321.749 |
251.028 |
|
(d) Short-term
provisions |
|
16.045 |
99.265 |
|
Total Current
Liabilities (4) |
|
1206.288 |
645.984 |
|
|
|
|
|
|
TOTAL |
|
2399.042 |
1728.883 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1048.930 |
178.285 |
|
(ii)
Intangible Assets |
|
13.883 |
3.071 |
|
(iii)
Capital work-in-progress |
|
434.038 |
746.781 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
|
15.881 |
66.294 |
|
(d) Long-term Loan and Advances |
|
146.379 |
46.541 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1659.111 |
1040.972 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
89.502 |
|
(c)
Trade receivables |
|
494.000 |
371.313 |
|
(d) Cash
and cash equivalents |
|
64.727 |
138.487 |
|
(e)
Short-term loans and advances |
|
60.208 |
54.729 |
|
(f)
Other current assets |
|
120.996 |
33.880 |
|
Total
Current Assets |
|
739.931 |
687.911 |
|
|
|
|
|
|
TOTAL |
|
2399.042 |
1728.883 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
29.509 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
613.640 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
643.149 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
643.149 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
205.797 |
|
|
Capital work-in-progress |
|
|
81.272 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
46.079 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
317.239
|
|
|
Cash & Bank Balances |
|
|
504.824
|
|
|
Other Current Assets |
|
|
2.117
|
|
|
Loans & Advances |
|
|
127.873
|
|
Total
Current Assets |
|
|
952.053 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000
|
|
|
Other Current Liabilities |
|
|
465.430
|
|
|
Provisions |
|
|
176.622
|
|
Total
Current Liabilities |
|
|
642.052 |
|
|
Net Current Assets |
|
|
310.001 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
643.149 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2331.900 |
2730.017 |
|
|
|
Other Income |
|
|
16.297 |
|
|
|
TOTAL |
2042.100 |
2331.900 |
2746.314 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1864.200 |
1658.600 |
1877.187 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1864.200 |
1658.600 |
1877.187 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
177.900 |
673.300 |
869.127 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
68.100 |
233.600 |
221.420 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
109.900 |
439.700 |
647.707 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
(69.806) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA
|
577.901 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Inter Company Revenue |
NA |
829.900 |
1367.763 |
|
|
TOTAL EARNINGS |
NA |
829.900 |
1367.763 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components |
NA |
NA |
58.917 |
|
|
TOTAL IMPORTS |
NA |
NA |
58.917 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
109.86 |
439.74 |
219.49 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
5.38
|
18.86
|
23.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
31.84 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.13
|
73.52
|
72.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.62
|
1.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.46
|
0.00
|
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.61
|
1.06
|
1.48 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
INDEX OF CHARGES: NO CHARGES EXIST FOR COMPANY
|
UNSECURED LOAN |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Loans and Advances from related Parties |
550.000 |
0.000 |
|
TOTAL |
550.000 |
0.000 |
OPERATIONS AND FUTURE OUTLOOK:
During the year, the company has achieved a turnover (sales, technical services and other income) of Rs. 2042.100 Millions against Rs. 2331.900 Millions during the previous year. The Company has recorded Profit of Rs.109.900 Millions after tax during the year against Profit of Rs. 439.700 Millions after tax during previous year. The business units of the company continue to have great potential in India and we are hopeful of good volume in future from all the line of business. The Company is committed to follow the Honeywell Global initiatives that is Growth, Productivity, Cash, People and Enablers. The Company has dedicated resources for business development activities in the country. They provide support to various businesses to identify the opportunities in areas like sourcing, research and development and establish new business opportunities in India
FIXED ASSETS:
- Office
Equipments
- Furniture and
Fixtures
- Vehicles
- Computers
- Leasehold
Improvements
- Software
PRESS RELEASE:
HONEYWELL’S UOP AND INDIAN OIL CORP. TO COLLABORATE ON BIOFUELS
PROJECTS IN INDIA
Companies would evaluate non-food Indian
feedstocks for the production of Green Diesel and Green Jet Fuels as well as
the development of renewable power applications from biomass waste
NEW DELHI, MARCH 31, 2010 -- UOP LLC, a Honeywell (NYSE: HON) company, announced today that it signed a memorandum of understanding with Indian Oil Corp. Limited (IOCL) under which the two companies would collaborate on research and development for a range of biofuels technologies and projects in India.
The companies would evaluate installation of a demonstration-scale unit to
produce green transportation fuels at an existing IOCL site using non-food
feedstocks available within India. IOCL and Honeywell’s UOP would also evaluate
the viability of pyrolysis oil technology to convert lignocellulosic materials,
or plant biomass, into renewable power and heat.
IOCL would also focus on research and development for the production of algal
oil for use as a feedstock in the green fuels production.
“This collaboration is focused on the development of viable and sustainable green fuels that will enable reduced greenhouse gas emissions in India,” said Jennifer Holmgren, vice president and general manager of Honeywell UOP’s Renewable Energy and Chemicals business unit. “We are honored to work with IOCL to support this initiative and movement toward a reduced carbon footprint in India.”
“We have to reduce the carbon footprint of our business operations at least by
25 percent from the present level. It is not only our moral responsibility, but
also necessary for sustaining the growth of our business. Green operation will
allow us to reduce costs by reducing the energy intensity of our operations and
thereby becoming cost competitive. It also helps us produce more from the same
or even less inputs. We are looking forward to working with UOP to bring
together our respective areas of expertise and achieve these goals,” said Mr.
Anand Kumar, director of research and development for IOCL.
The UOP/Eni Ecofining™ process uses catalytic hydro processing technology to
convert natural oils and animal fats to Honeywell Green Diesel™ fuel. The
product, which is chemically indistinguishable from traditional diesel fuel,
offers improved performance including a higher cetane value, excellent
cold-flow performance and reduced emissions over both biodiesel and
petroleum-based diesel. Green Diesel offers value as a blending stock for
refiners seeking to enhance existing diesel fuels and expand the diesel pool.
Honeywell’s UOP has also developed process technology to produce Honeywell
Green Jet™ fuel under a contract from the U.S. Defense Advanced Research
Projects Agency (DARPA) for both military and commercial aircraft. The process
produces a fuel that meets all critical specifications for flight while
offering reduced emissions and improved energy density to enable aircraft to
fly farther on less fuel.
In 2008, Honeywell’s UOP formed the joint venture Envergent Technologies LLC
with Ensyn Corp. to offer RTP® rapid thermal processing technology that
converts biomass such as forest waste or agricultural residuals into pyrolysis
oil, which can be used to generate heat and power.
IOCL, India's flagship national oil company and downstream petroleum major is
India's largest commercial enterprise. The Indian Oil Research and Development
Centre is the region’s foremost commercial center of excellence in the areas of
lubricants, oil refining, fuel additives, engine testing, materials sciences,
and environmental sciences. This center plays a key role in supporting the IOCL
and its customers and was the first Indian company to demonstrate the
feasibility of producing biofuels from non-edible oils.
UOP LLC, headquartered in Des Plaines, Illinois, USA, is a leading
international supplier and licensor of process technology, catalysts,
adsorbents, process plants, and consulting services to the petroleum refining,
petrochemical, and gas processing industries. UOP is a wholly-owned subsidiary
of Honeywell International, Inc. and is part of Honeywell’s Specialty Materials
strategic business group. For more information, go to www.uop.com.
Honeywell International (www.honeywell.com) is a Fortune 100 diversified
technology and manufacturing leader, serving customers worldwide with aerospace
products and services; control technologies for buildings, homes and industry;
automotive products; turbochargers; and specialty materials. Based in Morris
Township, N.J., Honeywell’s shares are traded on the New York, London, and
Chicago Stock Exchanges. For more news and information on Honeywell, please
visit www.honeywellnow.com.
This release contains “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934. All statements, other than
statements of fact, that address activities, events or developments that we or
our management intend, expect, project, believe or anticipate will or may occur
in the future are forward-looking statements. Forward-looking statements are
based on management’s assumptions and assessments in light of past experience
and trends, current conditions, expected future developments and other relevant
factors. They are not guarantees of future performance, and actual results,
developments and business decisions may differ from those envisaged by our
forward-looking statements. Our forward-looking statements are also subject to risks
and uncertainties, which can affect our performance in both the near- and
long-term. We identify the principal risks and uncertainties that affect our
performance in our Form 10-K and other filings with the Securities and Exchange
Commission.
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 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.61.52 |
|
|
1 |
Rs.94.99 |
|
Euro |
1 |
Rs.81.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.