MIRA
INFORM REPORT
|
Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
BSH HOME APPLIANCES PRIVATE LIMITED (w.e.f. 02.09.2009) |
|
|
|
|
Formerly Known
As : |
RBS HOME APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Arena House, Main Building, Plot No.103, Road
No.,12, MIDC, Andheri East, Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.09.1997 |
|
|
|
|
Com. Reg. No.: |
11-110691 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.185.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29300MH1997PTC110691 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB07484B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB5118R |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Subject is engaged in business of whole sale trading of household
appliances. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 150000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a group founded in 1967 as a joint venture between Robert
Bosch Gmbh (Stuttgart) and Siemens AG (Munich). It is a well established
company having satisfactory track record. The company has achieved better growth in its sales turnover during
2012. There appear some accumulated losses recorded. External borrowings
appear to be huge which may act as a threat to the liquidity. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of experienced promoters and directors the company can be
considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 DECLINED BY
Management non co-operative
LOCATIONS
|
Registered / Head Office : |
2nd Floor, Arena House, Main Building, Plot No.103, Road
No.,12, MIDC, Andheri (East), Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-67518067/ 67518000/ 67518040 |
|
Fax No.: |
91-22-67518020/ 67508020 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Marc Hantscher |
|
Designation : |
Managing Director |
|
Address : |
Oakwood Premier Mumbai, 29/1, JR Mhatre Road, Juhu, Mumbai-400049, Maharashtra, India |
|
Date of Birth/Age : |
04.11.1969 |
|
Date of Appointment : |
06.04.2010 |
|
DIN No.: |
03114489 |
|
|
|
|
Name : |
Dr. Dirk Hoffmann |
|
Designation : |
Additional Director |
|
Address : |
19A Bo Seng Ave, Singapore-309819 |
|
Date of Birth/Age : |
25.08.1961 |
|
Date of Appointment : |
07.08.2009 |
|
DIN No.: |
02862491 |
|
|
|
|
Name : |
Mr. Heiko Franz Scheltz |
|
Designation : |
Director |
|
Address : |
Poetschener 43 b 82131 Guting Germany |
|
Date of Birth/Age : |
01.05.1968 |
|
Date of Appointment : |
28.09.2009 |
|
DIN No.: |
02886046 |
|
|
|
|
Name : |
Mr. Andreas Oswald |
|
Designation : |
Director |
|
Address : |
3 Grange GDN, #10-03, Singapore – 249633 |
|
Date of Birth/Age : |
04.02.1970 |
|
Date of Appointment : |
05.12.2011 |
|
DIN No.: |
03542329 |
|
|
|
|
Name : |
Mr. Rohit Maganlal Gala |
|
Designation : |
Additional Director |
|
Address : |
Runwal Heights, 'B' Wing, 16lh Floor, LBS Marg, Mulund, Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1965 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
00370602 |
|
|
|
|
Name : |
Mr. Vegulaparanan Kasi Viswanathan |
|
Designation : |
Additional Director |
|
Address : |
15/ A-l, Palace Road, Bangalore -560 052, Karnataka, India |
|
Date of Birth/Age : |
20.11.1950 |
|
Date of Appointment : |
09.12.2010 |
|
DIN No.: |
01782934 |
KEY EXECUTIVES
|
Name : |
Mrs. Shilpa Madhusudan Wakade |
|
Designation : |
Company Secretary |
|
Date of Appointment : |
16.12.2011 |
|
PAN No.: |
ABOPW1861C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
BSH Vermogensverwaltuns GmbH, Germany |
90 |
|
BSH Bosch und Siemens Hausgeraete GmbH, Germany |
18499910 |
|
TOTAL
|
18500000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Foreign holdings( Foreign institutional investor(s), Foreign
companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas Corporate bodies or Others |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in business of whole sale trading of household
appliances. |
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
|
|
|
|
Bankers : |
·
Union Bank of India, M S Marg, Fort, Mumbai,
Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountant |
|
Address : |
Tower 3, 27th, 32nd Floor, India Bulls Finance
Centre, Elphinstone Mill Compound, Senapati Bapat Marg, Elphistone (West), Mumbai-400013,
Maharashtra, India |
|
PAN No.: |
AACFD4815A |
|
|
|
|
Holding Company : |
BSH Bosch und
Siemens Hausgeraete GmbH |
|
|
|
|
Fellow Subsidiaries : |
·
BSH Electrodomesticos Espana, S.A. Spain ·
BSH Hausgerate Service GmbH ·
BSH Appliances FZE ·
BSH Home Appliances (China) Company Limited ·
BSH Home Appliances Manufacturing Limited,
Thailand ·
BSH Household Appliances China ·
BSH Electrical Appliances Jiangsu ·
BSH Ev Turkey ·
BSH Home Applaicnes Pte. Limited, Singapore ·
BSH Housgerate AG Switzerland ·
BSH Household Appliances Manufacturing Private
Limited CIN NO.:- U29253MH2011FTC218407 |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18500000 |
Equity Shares |
Rs.10/- each |
Rs. 185.000
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 |
|
185.000 |
185.000 |
|
(b) Reserves & Surplus |
|
(146.378) |
(76.095) |
|
(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) |
|
38.622 |
108.905 |
|
|
|
|
|
|
(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 |
6.588 |
|
(d) long-term provisions |
|
0.000 |
10.723 |
|
Total Non-current Liabilities (3) |
|
0.000 |
17.311 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
381.147 |
0.000 |
|
(b) Trade payables |
|
165.570 |
297.301 |
|
(c) Other current liabilities |
|
4.483 |
26.894 |
|
(d) Short-term provisions |
|
3.134 |
16.277 |
|
Total Current Liabilities (4) |
|
554.334 |
340.472 |
|
|
|
|
|
|
TOTAL |
|
592.956 |
466.688 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
0.000 |
13.214 |
|
(ii) Intangible Assets |
|
0.000 |
2.059 |
|
(iii) Capital
work-in-progress |
|
0.000 |
3.110 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
4.300 |
|
(d) Long-term Loan and Advances |
|
2.998 |
27.478 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
2.998 |
50.161 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
264.879 |
|
(c) Trade receivables |
|
4.537 |
81.482 |
|
(d) Cash and cash
equivalents |
|
11.138 |
50.760 |
|
(e) Short-term loans
and advances |
|
2.736 |
19.406 |
|
(f) Other current
assets |
|
571.547 |
0.000 |
|
Total Current Assets |
|
589.958 |
416.527 |
|
|
|
|
|
|
TOTAL |
|
592.956 |
466.688 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
185.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(41.823) |
|
|
NETWORTH |
|
|
143.177 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
143.177 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
7.629 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
3.255 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
103.370
|
|
|
Sundry Debtors |
|
|
63.655
|
|
|
Cash & Bank Balances |
|
|
32.800
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
30.935
|
|
Total
Current Assets |
|
|
230.760 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
62.022
|
|
|
Other Current Liabilities |
|
|
13.589
|
|
|
Provisions |
|
|
22.856
|
|
Total
Current Liabilities |
|
|
98.467 |
|
|
Net Current Assets |
|
|
132.293 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
143.177 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1848.312 |
765.227 |
529.100 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1906.060 |
794.319 |
549.738 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(57.748) |
(29.092) |
(20.638) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
8.233 |
3.085 |
1.998 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(65.981) |
(32.177) |
(22.636) |
|
|
|
|
|
|
|
|
|
|
TAX |
0.000 |
2.093 |
(1.433) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(70.281) |
(34.272) |
(21.203) |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
NA |
NA |
285.574 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.80) |
(1.85) |
(1.15) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(3.80)
|
(4.48) |
(4.28) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(11.13)
|
(6.89) |
(9.50) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.71)
|
(0.30) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
9.87
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
1.22 |
2.34 |
|
|
|
|
|
|
|
|
|
|
|
|
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 |
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) |
Yes |
|
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 |
FACILITIES
(Rs.
In Millions)
|
Unsecured Loan |
31.03.2012 |
31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand |
|
|
|
Cash credit form banks (Guaranteed by holding company, BSH Bosch und
Siemens Hausgerate GmbH) |
381.147 |
0.000 |
|
|
|
|
|
TOTAL |
381.147 |
0.000 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sundry Creditors
|
165.570 |
297.301 |
|
|
-
Creditors Due Small Micro Enterprises |
-- |
-- |
0.000 |
|
-
Creditors Due Others |
-- |
-- |
62.022 |
|
TOTAL |
165.570 |
297.301 |
62.022 |
NOTE
Registered office
has been shifted from Siemens Training Center, 1st Floor, Mehta Estate,
M V Road, Andheri (East), Mumbai-400093, Maharashtra, India to the present
address w.e.f. 10.06.2011.
CORPORATE INFORMATION
Subject was in the
business of whole sale trading of household appliances. On 5th December 2011,
the Board of Directors of the Company resolved to discontinue the business of
the Company effective December 31, 2011and proposed to enter into an
arrangement with BSH Household Appliances Manufacturing Private Limited
('BSHM'), a fellow subsidiary for itemized sale of certain assets and
liabilities. Accordingly, the Company sold / transferred substantially all of
its assets and certain liabilities to BSHM and discontinued its business.
Consequently, the accounts are not prepared on going concern basis and loss for
the year reflects the impact of discontinued operations. In the opinion of the
Management of the Company, values of assets and liabilities reflected in the
balance sheet are stated at the values at which they are expected to be
realized or settled and no additional adjustment is required to the values and
classification /presentation of such assets and liabilities.
PERFORMANCE REVIEW
For the period
April 2011 to December 2011, the company progressed as per the plans; however
on the 5th of December 2011, the company entered in to an arrangement for
itemized sale of its assets with BSH Household Appliances Manufacturing Private
Limited effective from 2nd January 2012.
FIXED ASSETS
·
Computers
·
Furniture and Fixtures
·
Office Equipments
·
Demo Washers
·
Vehicles
WEBSITE DETAILS
NEWS
PRESS RELEASE
BSH BUILDS ITS
FIRST FACTORY IN INDIA
Europe's market leader will start production of household appliances in
Chennai from 2014 onwards
Chennai/Munich, March 15, 2013 (bsh) – With the construction of the first
factory, BSH Bosch und Siemens Hausgeräte GmbH has reaffirmed its growth plans
for India. The foundation stone is already planted at the Pillaipakkam
industrial park near the Indian economic metropolis of Chennai. In the coming
months, a modern home appliances factory will emerge on the site, which is
planned to start manufacturing washing machines from the second half of 2014.
The volume of investment is calculated to be around €50 million. The appliances
which will be produced in Chennai in the future are intended not only for the
Indian market, but also for export to South-East Asia, Australia and New
Zealand.
"This factory
demonstrates our loyalty to India and sets a milestone for the expansion of our
business activities on the sub-continent", says Marc Hantscher, Managing
Director and CEO of BSH India. "We can see great opportunities for growth
here in the home appliances sector. The factory has a production capacity of
around 600,000 appliances per year. Soon, washing machines will start to roll
off the production line here. The building will be constructed on a site of 42
acres, and may be expanded for further product categories in line with the
growing demand for high-quality, energy-efficient home appliances. Around 400
new jobs will be created here from 2014 onwards. The new factory is part of the
BSH worldwide production alliance and will serve as an export hub for the
South-East Asian and Pacific market.
"The
high-performance and user-friendly appliances which we will produce in Chennai
in the future are specially tailored to the needs of our customers in India as
well as in other regions", Hantscher explains. In order to fulfill these
requirements as successfully as possible, BSH is also building a development
centre on the factory site, in which future appliance generations will be
developed for the Indian and South-East Asian market.
When it comes to
cooling appliances, BSH relies on cooperation. In partnership with the Indian
household appliance manufacturer Godrej and Boyce, BSH develops and manufactures
energy-efficient cooling appliances for the Indian and South-East Asian market.
The appliances are manufactured to BSH standards in a Godrej factory near the
city of Pune and sold independently under the brands Bosch and Siemens.
Europe's leading
manufacturer of household appliances has been active in the Indian market for
several years and sells appliances there under the main brands of Bosch and
Siemens. In India, Siemens is the market leader for premium built-in
appliances.
BSH TAKES OVER THE
MAJORITY STAKE IN ZELMER
Company reinforces
its position in SDA in Poland and CEE
Munich/Warsaw, March 25, 2013 (bsh) – BSH Bosch und
Siemens Hausgeräte GmbH takes over the majority stake in Zelmer. On Friday, 22
March, the company, through its Polish subsidiary BSH Sprzęt Gospodarstwa
Domowego Sp. z o.o., has become the majority shareholder of Zelmer S.A. In
Central and Eastern European countries, Zelmer is a well-recognized brand for
small home appliances such as vacuum clean-ers, food processors and espresso
machines. BSH Sprzęt Gospodarstwa Domowego and Zelmer will keep their
separate brands and product portfolios, under the common roof of BSH Group. The
transaction is expected to unleash growth potential for both BSH and Zelmer.
BSH takes control over Zelmer as a result of formal acquisition of the majority
stake on the Warsaw Stock Exchange. The transaction has been preceded by a
public tender offer. The transfer of 97.78 per cent of Zelmer shares was
officially concluded on March 22nd.
"We are delighted that this transaction has been successfully
completed. Zelmer’s alignment with the BSH Group is an important milestone in
our growth strategy. Zelmer's product port-folio and highly-motivated employees
will play an important role in helping us achieve our plans", said BSH CEO
Dr. Kurt-Ludwig Gutberlet.
Zelmer
is a well-established brand for small domestic appliances in Central and
Eastern Europe. Zelmer’s strategic location will contribute to BSH’s logistics
system in Central and Eastern Europe. The company has a production capacity
that can also be utilized to serve a number of BSH’s markets in Europe. From
today's perspective the transaction does not im-pact the organizational set up
or plans of BSH’s existing operations in Łódź and other BSH
locations. After entering BSH Group, Zelmer will keep its own brand and
production.
“We
are very excited about this acquisition, which further strengthens BSH’s
position both in Poland and in the region. Zelmer will complement our product
portfolio and our production network with new products and with market
segments, which we have not yet served”, said Konrad Pokutycki, CEO BSH
Sprzęt Gospodarstwa Domowego.
“Zelmer
has gained a strong, strategic investor that will help the company grow within
its European structure. Our highly-recognized brand and strong market position
in several small domestic appliances categories in Poland, as well as our
growing presence in important markets as Russia and Ukraine, backed by
financial and technological support from BSH Group, will be the foundations of
Zelmer’s future development”, said Janusz Płocica, CEO Zelmer S.A.
DEWA SIGNS
MOU WITH BSH BOSCH AND SIEMENS HOME APPLIANCES ON PROMOTING ECO-FRIENDLY
PRODUCTS
Dubai, United Arab Emirates, April 17, 2013
On
the sidelines of Water, Energy, Technology and Environment Exhibition
"WETEX" 2013 that is organized by DEWA under the umbrella of the
Dubai Supreme Council of Energy, DEWA signed a memorandum of understanding with
BSH, a company specialized in the provision of home products and appliances.
Under the memorandum, BSH Bosch and Siemens Home Appliances will promote
environment friendly products and sustainable solutions and raise awareness of
issues of sustainability among its customers in Dubai.
DEWA shall provide support for promotional
campaigns carried out by BSH in green products.
Commenting on the agreement, Waleed Salman,
EVP-Strategy and Business Development, DEWA said: "The agreements we have
signed embrace all economic sectors that are concerned about rationalizing
consumption either directly or indirectly. Through this agreement, we are
targeting the end-users directly to change the energy consumption patterns to
maximise conservation."
Under the MoU, BSH will cooperate with DEWA
by participating in all sustainability campaigns organized by DEWA and
providing advice to end users on energy conservation and encourage purchase of
environment friendly products such as refrigerators, washing machines, dish
washers and cooking as well as food preparation accessories, vacuum cleaners,
irons and personal care products. In the same context, the company will conduct
awareness programs on sustainable electronic and eco-friendly devices for the
staff of DEWA.
On his part, BSH's CEO, Mark Saunders said:
"We are proud to be part of the campaigns on environmental sustainability
undertaken by DEWA. We are confident that this cooperation will bring a lot of
success for our operations in the region through strengthening our social
responsibility towards the community in the UAE."
WETEX 2013 has become one of the most prominent exhibitions on
electricity, water, environment and energy in the world as it is today a
landmark event discussing the best practices for energy management and its
challenges and providing energy sources and their diversification.
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. 60.10 |
|
|
1 |
Rs. 91.07 |
|
Euro |
1 |
Rs. 77.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.