MIRA
INFORM REPORT
|
Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
RUBFILA INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
New Industrial Development Area, Kanjikode, Palakkad - 678621, Kerala |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.03.1993 |
|
|
|
|
Com. Reg. No.: |
09-007018 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 216.088 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25199KL1993PLC007018 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Heat Resistant Latex Rubber Thread. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The
company has been successful in wiping off its accumulated losses of the
previous year and the networth turned positive. However, the company is still
improving. Trade relations are reported as fair. Business is active. Payments
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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
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.
LOCATIONS
|
Registered Office / Corporate Office
/ Factory : |
New Industrial Development Area, Kanjikode, Palakkad -
678621, Kerala, India |
|
Tel. No.: |
91-491-2567261 / 62 / 63 / 64 / 65 |
|
Fax No.: |
91-491-2567260 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales Office 1 : |
7/22, Sugam Nagar, 1st Street, Behind ASM Colony, Angeripalayam Road, Tirupur -3, Tamilnadu, India |
|
Tel. No.: |
91-421-2473149 |
|
|
|
|
Sales Office 2 : |
11-B, Pocket B-8, Mayurvihar Phase 3, New Delhi - 110096, India |
|
|
|
|
Sales Office 3 : |
Satale Building, 1st Floor, Near Mahad Taluka Hall, Marata, Kolsewadi, Kalyan (East), Thane, Maharashtra, India |
|
|
|
|
Overseas Office : |
Located At ·
USA ·
Malaysia |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Bharat J Patel |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Bharat J Dattani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Thomas Calton Thompson III |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dhiren S. Shah |
|
Designation : |
Director |
|
Date of Birth/Age : |
29.04.1956 |
|
Qualification : |
M.Com., LLB, FCA, Grad.CMA |
|
Date of Appointment : |
28.01.2009 |
|
|
|
|
Name : |
Mr. Samir K Shah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Patrick M Davenport |
|
Designation : |
Director |
|
Date of Birth/Age : |
17.03.1966 |
|
Qualification : |
BA |
|
Date of Appointment : |
25.06.2009 |
|
|
|
|
Name : |
G. Krishna Kumar |
|
Designation : |
Managing Director |
KEY EXECUTIVES
|
Name : |
Mr. N.N. Parameswaran |
|
Designation : |
Chief Finance Officer and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Category of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
10890960 |
25.20 |
|
|
2736000 |
6.33 |
|
|
13626960 |
31.53 |
|
|
|
|
|
|
4984119 |
11.53 |
|
|
9093920 |
21.04 |
|
|
14078039 |
32.57 |
|
Total shareholding of Promoter and Promoter Group (A) |
27704999 |
64.11 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
66000 |
0.15 |
|
|
160 |
0.00 |
|
|
66160 |
0.15 |
|
|
|
|
|
|
1847630 |
4.28 |
|
|
|
|
|
|
8662333 |
20.04 |
|
|
4619360 |
10.69 |
|
|
317047 |
0.73 |
|
|
316813 |
0.73 |
|
|
234 |
0.00 |
|
|
15446370 |
35.74 |
|
Total Public shareholding (B) |
15512530 |
35.89 |
|
Total (A)+(B) |
43217529 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
43217529 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Heat Resistant Latex Rubber
Thread. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
HRLRT |
M.T |
6,350.00 |
3424.17 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Punjab National Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mohan and Mohan Associates Chartered Accountants |
|
Address : |
A-2, Jawahar Nagar, Trivandrum - 695 041, Kerala, India |
|
|
|
|
Associates : |
· Entelechy Holdings Corporation · Rubpro Sdn Bhd. |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
70000000 |
Equity Shares |
Rs.5/- each |
Rs.350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
43217529 |
Equity Shares |
Rs.5/- each |
Rs.216.088
Millions |
|
|
|
|
|
Reconciliation of the
number of shares and amount outstanding at the beginning and at the end of the reporting
period (Equity shares with voting rights):
|
Particulars |
Number of shares |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
31683707 |
316.837 |
|
Less : Share Capital written off by 60% under BIFR Scheme |
--- |
190.102 |
|
|
|
|
|
Shares with Face Value of ` 4 each (Previous year Rs.10 each) |
31683707 |
126.735 |
|
Less : Reduction and Consolidation of Share Capital of Rs.4/- into Rs.5/- Face Value under BIFR scheme |
6336742 |
-- |
|
|
|
|
|
Shares with Face Value of Rs.5/- Share (Previous year Rs.10/- Share) |
25346965 |
126.735 |
|
Add: Fresh issue of Shares @ Rs.5/- Share |
17870564 |
89.353 |
|
Shares outstanding at the end of the year |
43217529 |
216.088 |
Details of shares held
by each shareholder holding more than 5% shares :
|
Particulars |
Number of shares |
Rs. In Millions |
|
Equity shares with voting rights |
|
|
|
Rubpro Sdn. Bhd., Malaysia |
7316608 |
16.93% |
|
Minal Bharat Patel |
4640480 |
10.73% |
|
Bharat Jamnadas Dattani |
2600000 |
6.01% |
|
Kerala State Industrial Development Corporation Limited. |
2736000 |
6.33% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
216.088 |
316.837 |
316.837 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
191.938 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(325.874) |
(347.351) |
|
|
NETWORTH |
408.026 |
(9.037) |
(30.514) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
243.265 |
243.265 |
|
|
TOTAL BORROWING |
0.000 |
243.265 |
243.265 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
408.026 |
234.228 |
212.751 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
185.265 |
210.248 |
220.654 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
28.273
|
19.591 |
14.592 |
|
|
Sundry Debtors |
108.998
|
84.552 |
57.291 |
|
|
Cash & Bank Balances |
30.504
|
23.306 |
15.818 |
|
|
Other Current Assets |
25.261
|
2.060 |
0.042 |
|
|
Loans & Advances |
95.821
|
29.537 |
18.485 |
|
Total
Current Assets |
288.857
|
159.046 |
106.228 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
36.263
|
31.449 |
20.808 |
|
|
Other Current Liabilities |
7.049
|
9.608 |
47.044 |
|
|
Provisions |
22.784
|
94.009 |
46.882 |
|
Total
Current Liabilities |
66.096
|
135.066 |
114.734 |
|
|
Net Current Assets |
222.761
|
23.980 |
(8.506) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.603 |
|
|
|
|
|
|
|
|
TOTAL |
408.026 |
234.228 |
212.751 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (net) |
965.614 |
792.019 |
515.950 |
|
|
|
Other Income |
11.134 |
1.757 |
10.803 |
|
|
|
TOTAL (A) |
976.748 |
793.776 |
526.753 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
733.876 |
|
|
|
|
|
Purchases of stock-in-trade |
0.536 |
0.000 |
|
|
|
|
Changes in inventories of finished good, work-in-progress and stock-in-trade |
4.260 |
(2.361) |
468.927 |
|
|
|
Employee benefits expense |
34.593 |
31.140 |
|
|
|
|
Other expenses |
75.705 |
86.589 |
|
|
|
|
Exceptional items |
(228.505) |
0.000 |
|
|
|
|
TOTAL (B) |
620.465 |
744.244 |
468.927 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
356.283 |
49.532 |
57.826 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.860 |
0.416 |
(1.454) |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
355.423 |
49.116 |
59.280 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.713 |
27.639 |
27.434 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
327.710 |
21.477 |
31.846 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
(194.079) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
327.710 |
21.477 |
225.925 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(325.874) |
(347.332) |
(573.275) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.836 |
(325.874) |
(347.332) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated of FOB basis |
83.460 |
44.299 |
31.812 |
|
|
TOTAL EARNINGS |
83.460 |
44.299 |
31.812 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.238 |
8.472 |
1.286 |
|
|
|
Stores & Spares |
0.935 |
0.416 |
1.301 |
|
|
|
Finished Goods |
0.840 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
2.013 |
8.888 |
2.587 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.99 |
0.68 |
7.13 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2012 |
30.09.2012 |
|
Type |
|
1st Quarter |
2nd Quarter |
|
Net Sales |
|
4421.670 |
4769.270 |
|
Total Expenditure |
|
4135.450 |
4403.630 |
|
PBIDT (Excl OI) |
|
286.220 |
365.640 |
|
Other Income |
|
17.540 |
31.950 |
|
Operating Profit |
|
303.780 |
397.590 |
|
Interest |
|
116.640 |
118.150 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
187.140 |
279.440 |
|
Depreciation |
|
74.900 |
80.660 |
|
Profit Before Tax |
|
112.240 |
198.780 |
|
Tax |
|
22.000 |
51.250 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
90.240 |
147.530 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
90.240 |
147.530 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
33.55
|
2.71 |
42.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
33.94
|
2.71 |
6.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
69.12
|
5.82 |
9.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.80
|
(2.38) |
(1.04) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.16
|
(41.86) |
(11.73) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.37
|
1.18 |
0.93 |
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 |
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 |
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 |
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 |
|
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 |
FINANCIAL RESULTS:
During the year, the company achieved a gross turnover of Rs.1009.284 Millions, a growth of 23% over the sales of the previous year. Out of this, Rs.925.800 Millions came from the sales in the domestic market and Rs.83.500 Millions was from the sales in the overseas markets.
The company, through a series of stringent management initiatives in rationalising the operations, could achieve a higher sales and higher profitability in the year. Even though the Indian market for rubber threads saw a steady growth this year also in line with the trends in the past few years, it was not bereft of any turbulences. The company faced issues like slowdown fears among the customers, stretched payment cycles etc. But irrespective of these factors and increased competition, the company continued to be successful in holding on to its market share during the year. In the export front, the company catered mainly to its regular customers who procure niche products. The company intends to expand the manufacturing capacity with an idea to target more of exports market. The company follows prudent financial management practices and completed another year of operations without any support for working capital from the financial institutions. In addition to that, the company was prudent to invest funds resulting in increased earnings
MANAGEMENT DISCUSSION
AND ANALYSIS OF OPERATION
INDUSTRY STRUCTURE
AND DEVELOPMENT
Rubber Thread is a product which touches the daily life of the people in the form of foundation garments and the industry thus plays an important role in meeting the requirements of the textile sector which consumes this product in abundance. The major application of the product goes for the manufacture of elastics used in foundation garments. The per capita consumption of the foundation garments in India remains at very low levels today even after healthy growths in the past few years and thus offers good potential for the industry. Rubber thread also finds more and more applications like Toys, fishing etc. Due to the widening consumer base, this segment could beat the recent recessionary trend, and is continuously growing
MARKET SCENARIO
Most of the production capacities of this product are based in Thailand, a shift which happened from Malaysia. China also is emerging as a major player in the industry. The rubber thread market is estimated to be growing at about 10% p.a, a healthy rate. India has been witnessing a major growth in the rubber thread consumption in the past few years in line with the growth in the economy. With the increase in disposable income in the hands of the people, the consumption patterns in many sectors have undergone a sea change leading to the growth of many consumer products which indirectly has helped the rubber thread industry also.
While the prices of sheet rubber saw declines in the past year, prices of centrifuged latex remained stable at higher levels. Consequently, the rubber thread prices also remained at higher levels.
The continuous improvement in turnover and profitability has proved right about the company's decision to give more thrust to the domestic market. However, Company continues to increase the share of Export market by concentrating on high realization products and markets.
Domestic market is fast growing and the company has been able to hold on to major share of the market irrespective many competitors in the market. The proximity to both raw material sourcing centers and a major market for the product, Tirupur is a unique advantage for the Company. By virtue of the quality of the product, and increasing marketing efforts, company is able to establish regular business from far off markets like Kolkata, Surat etc. Company is gearing up for optimum utilization of the plant capacity to meet the expected increase in demand.
OUTLOOK
The Company continues to be a significant player in the Rubber Thread Market and hopes to retain its leadership position in the market. Innovations are part of the company's culture and it always strives to expand its customer base both in the country as well as in the international market. The company is hopeful of a positive business outlook for the rubber thread industry in the coming years.
CONTINGENT
LIABILITIES AND COMMITMENTS
Rs. In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
(a) Claims against the Company not acknowledged as debt: |
|
|
|
- Duty Draw back |
39.173 |
0.000 |
|
- Sales Tax Liability |
98.613 |
98.613 |
|
(b) Guarantees: |
|
|
|
- Bank Guarantee with PNB |
0.810 |
0.000 |
|
- Bank Guarantee with CSB |
0.000 |
0.829 |
UNSECURED
LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances
from related parties - |
|
|
|
Loan from Promoters / Associates |
0.000 |
46.570 |
|
Rubpro Sdn Bhd Loan – ECB |
0.000 |
15.695 |
|
From other parties |
|
|
|
PAT Financial Consultants Private Limited |
0.000 |
181.000 |
|
Total |
0.000 |
243.265 |
FIXED ASSETS
· Land
· Building
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer and Accessories
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.54.64 |
|
|
1 |
Rs.87.46 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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.