MIRA
INFORM REPORT
|
Report Date : |
30.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
UMW DONGSHIN MOTECH PRIVATE LIMITED (w.e.f. 19.11.2009 ) |
|
|
|
|
Formerly Known
As : |
DONGSHIN MOTECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.A-19, Talegaon Industrial Area, Village Navlakhumbre, Taluka
Maval, Pune – 410 507, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.04.2007 |
|
|
|
|
Com. Reg. No.: |
11-133046 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.604.139 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29255PN2007PTC133046 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEU06667D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCD5858L |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing of automobile components and engineering components. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1139000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of MK Automotive Industries Limited, Malaysia.
It is an established company having moderate track record. The management has failed to file its financial with Government
Department for the year 2013. As per available financial of 2012, there appears huge accumulated
losses recorded by the company. Profitability of the company seems to be
under pressure. However, trade relations are fair. Business is active. Payment terms
are reported to be slow. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn Rs.400000
million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 DECLINED BY
|
Name : |
Mr. Gupta |
|
Designation : |
General Manager (Finance) |
|
Contact No.: |
91-2114-306041 |
|
Date : |
28.12.2013 |
LOCATIONS
|
Registered Office : |
Plot No.A-19, Talegaon Industrial Area, Village Navlakhumbre, Taluka
Maval, Pune – 410 507, Maharashtra |
|
Tel. No.: |
91-20-26608813 91-2114-306035/ 306041 |
|
Fax No. : |
91-2114-306010 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Talegaon, MIDC, Pune, Maharashtra, India |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Choon Woo Lim |
|
Designation : |
Director |
|
Address : |
1104-215, Shin Gaegeum Ld Apartment, Gaegeum, Jinju Busan, Korea
614811 |
|
Date of Birth/Age : |
06.12.1964 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
16.04.2007 |
|
DIN No.: |
01381510 |
|
|
|
|
Name : |
Mr. Muthukumar Ayarpadde |
|
Designation : |
Additional Director |
|
Address : |
No.66, Jalan Setiajaya Bukit Damansara, Kualalumpur, Malaysia - 50490 |
|
Date of Birth/Age : |
13.07.1972 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.07.2007 |
|
DIN No.: |
01799039 |
|
|
|
|
Name : |
Mr. Jong Soo Rhee |
|
Designation : |
Director |
|
Address : |
596 (20/5), 105 401, Singaegeum LG Aptartment,105 401, 596 (20/5),
Gaegeum Dong Busanjin – GU, Busari Metropolitan, Korea 614113 |
|
Date of Birth/Age : |
04.12.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.07.2007 |
|
DIN No.: |
02483978 |
|
|
|
|
Name : |
Mr. Syed Hisham Bin Syed Wazir |
|
Designation : |
Director |
|
Address : |
No.1, Jalan USJ, 18/7, UEP Subang Jaya, Selangor-47630, Malaysia |
|
Date of Birth/Age : |
26.06.1954 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
06.10.2010 |
|
DIN No.: |
03281121 |
|
|
|
|
Name : |
Megat Shahrul Azmir Bin Nordin |
|
Designation : |
Director appointed in casual vacancy |
|
Address : |
No.38, Jalan Teratak U8/95A, Bukit Jelutong, Shah Alam, Selangor Darul
Ehsan, Malaysia 40150 |
|
Date of Birth/Age : |
12.04.1970 |
|
Date of Cessation : |
24.03.2012 |
|
DIN No.: |
05237306 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
No. of Shares |
|
Dongshin Motech Company Limited, Korea |
24165560 |
|
MK Automotive Industries Limited, Malaysia |
53111480 |
|
Total
|
77277040 |
AS ON 25.09.2012
|
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 manufacturing of automobile components and engineering components. |
||||
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||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010):
|
Group of
Machines |
Activity |
Unit |
Licensed
Capacity |
Annual
Installed Capacity |
Actual
Production |
|
Strokes
|
Strokes
|
||||
|
1200 T Tandem Press Line |
Sheet Metal Pressing |
Nos. |
NA |
1584000 |
242000 |
|
250 T Medium Press Line |
Sheet Metal Pressing |
Nos. |
NA |
2640000 |
286000 |
|
150 T Small Press Line |
Sheet Metal Pressing |
Nos. |
NA |
3168000 |
506000 |
|
250 T Auto Blanking Line |
Sheet Metal Pressing |
Nos. |
NA |
4224000 |
814000 |
|
Assly Weld Shop |
Welding |
Nos. |
NA |
1512000 |
198000 |
GENERAL INFORMATION
|
Customers : |
·
General Motors India ·
Volkswagen /Skoda India ·
Tata Motors ·
Mahindra and Mahindra ·
Benteler Automotive |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Standard Chartered Bank, Crescenzo, Plot No.C-38 and 39, G Block,
Bandra Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SNDA and Associates Chartered Accountants |
|
Address : |
2, Alankar Apartments, S No.26/14, Shivajinagar, Near Sakhar Sankul,
Pune - 411 005, Maharashtra, India |
|
PAN No.: |
ABLFS4120K |
|
|
|
|
Holding Company : |
MK Automotive Industries Limited, Malaysia |
|
|
|
|
Associate : |
Dongshin Motech Company Limited, Korea |
|
|
|
|
Other Related Parties : |
·
UMW Oilfield International (L) Limited, Malaysia ·
UMW Corporation SDN. BHD., Malaysia |
CAPITAL STRUCTURE
AS ON 25.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000000 |
Equity Shares |
Rs.10/- each |
Rs.1000.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
77277040 |
Equity Shares |
Rs.10/- each |
Rs.772.770 millions |
|
|
|
|
|
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
60413900 |
Equity Shares |
Rs.10/- each |
Rs.604.139 millions |
|
|
|
|
|
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 |
|
|
|
|
(a) Share Capital |
|
604.139 |
500.000 |
|
(b) Reserves & Surplus |
|
(413.200) |
(109.413) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
93.726 |
1.718 |
|
Total
Shareholders’ Funds (1) + (2) |
|
284.665 |
392.305 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
790.045 |
916.053 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
10.344 |
10.652 |
|
(d) Long-term
provisions |
|
5.335 |
0.921 |
|
Total Non-current
Liabilities (3) |
|
805.724 |
927.626 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
471.710 |
157.166 |
|
(b)
Trade payables |
|
130.034 |
20.075 |
|
(c)
Other current liabilities |
|
184.679 |
164.055 |
|
(d) Short-term
provisions |
|
0.919 |
0.919 |
|
Total Current
Liabilities (4) |
|
787.342 |
342.215 |
|
|
|
|
|
|
TOTAL |
|
1877.731 |
1662.146 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible
assets |
|
1242.195 |
1199.346 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
200.865 |
155.055 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
1443.060 |
1354.401 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
109.033 |
156.350 |
|
(c)
Trade receivables |
|
317.115 |
51.074 |
|
(d) Cash
and cash equivalents |
|
6.761 |
6.356 |
|
(e)
Short-term loans and advances |
|
1.762 |
93.965 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
434.671 |
307.745 |
|
|
|
|
|
|
TOTAL |
|
1877.731 |
1662.146 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
306.336 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1.925 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
308.261 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
982.664 |
|
|
2] Unsecured Loans |
|
|
22.490 |
|
|
TOTAL BORROWING |
|
|
1005.154 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1313.415 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1100.549 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
24.157
|
|
|
Sundry Debtors |
|
|
193.256
|
|
|
Cash & Bank Balances |
|
|
5.869
|
|
|
Other Current Assets |
|
|
110.864
|
|
|
Loans & Advances |
|
|
7.850
|
|
Total
Current Assets |
|
|
341.996 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
28.216
|
|
|
Other Current Liabilities |
|
|
99.252
|
|
|
Provisions |
|
|
1.662
|
|
Total
Current Liabilities |
|
|
129.130 |
|
|
Net Current Assets |
|
|
212.866
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1313.415 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
756.340 |
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
756.340 |
227.815 |
90.780 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1060.126 |
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1060.126 (including
depreciation) |
281.240 |
74.754 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION |
|
(55.351) |
16.026 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
55.988 |
14.149 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(303.786) |
(111.339) |
1.877 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
(0.048) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(303.786) |
(111.339) |
1.925 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.964 |
Nil
|
Nil
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
29.986 |
|
|
|
Capital Goods |
NA |
NA |
249.234 |
|
|
TOTAL IMPORTS |
NA |
NA |
279.220 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.49) |
(2.39) |
0.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(40.17) |
(48.87)
|
2.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(16.18) |
(6.70)
|
0.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.07) |
(0.28)
|
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.43 |
2.74
|
3.26 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.55 |
0.90
|
2.65 |
LOCAL AGENCY FURTHER INFORMATION
Details of Current
maturities of long-term debt:
|
Particulars |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
31.03.2010 (Rs.
in millions) |
|
Current maturities of long-term debt |
124.835 |
81.712 |
NA |
|
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 |
No |
|
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 |
Yes |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No 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 |
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from others |
279.950 |
338.656 |
|
Total
|
279.950 |
338.656 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10331048 |
10/12/2011 |
50,000,000.00 |
STANDARD
CHARTERED BANK |
CRESCENZO, PLOT
NO.C-38 AND 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI,
MAHARASHTRA - 400051, INDIA |
B30335814 |
|
2 |
10212441 |
07/04/2010 |
750,000,000.00 |
STANDARD
CHARTERED BANK |
90, M G ROAD, FORT,
MUMBAI, MAHARASHTRA - 400001, INDIA |
A83132480 |
|
3 |
10193446 |
30/12/2009 |
705,000,000.00 |
STANDARD
CHARTERED BANK |
90, M G ROAD,
FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A76323880 |
|
4 |
10190443 |
14/05/2011 * |
311,740,000.00 |
STANDARD CHARTERED
BANK |
CRESCENZO, 3A/F,
PLOT NO.C-38 & 39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA, MUMBAI,
MAHARASHTRA - 400051, INDIA |
B16063943 |
|
5 |
10150524 |
20/03/2009 |
195,000,000.00 |
STANDARD
CHARTERED BANK |
90, M.G. ROAD, FORT,
MUMBAI, MAHARASHTRA - 400001, INDIA |
A59839340 |
* Date of charge modification
Note:
The Registered office of the company has been shifted from No.29, Devadi Street, Mylapore Chennai – 600 004, Tamilnadu, India to the present address w.e.f. 23.10.2008.
CORPORATE INFORMATION:
Subject is a
company engaged in manufacturing of automobile components and engineering
components. It was incorporated in India as a Private Limited Company on April
16, 2007.
BUSINESS:
The Company has
set up a state of the Art facility for production of Automobile body parts to
be supplied to automobile manufacturers. The factory is set up at Talegaon MIDC
near Pune. The Company currently supplies to General Motors India mainly.
OPERATIONS AND FUTURE PROSPECTS:
The year 2011-12
is the third year of operations. During the financial year 2011-12 sales
including other income amounted to Rs.756.340 millions as compared to
Rs.227.815 millions in the previous financial year 2010-11 showing a substantial
growth of around 232%. Since the Company is still in the stage of development,
there is a loss of Rs.303.786 millions in the books of accounts of the Company
for the year ended on 31st March 2012 and the accumulated loss as on
31st March 2012 amounted to Rs.413.200 millions. However the Board
of Directors are confident that there is enough potential for growth and with
aggressive marketing and business development, the Company should emerge from
this loss in the coming couple of years.
SUBSIDIARY OF MK AUTOMOTIVE INDUSTRIES LIMITED,
MALAYSIA:
The Company does
not have any subsidiary company. The Company is a subsidiary of MK Automotive
Industries Limited, Malaysia, which is in turn the subsidiary of UMW
Corporation Sdn Bhd, Malaysia.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
·
Computer Equipments
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.62.05 |
|
|
1 |
Rs.102.03 |
|
Euro |
1 |
Rs.85.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.