MIRA INFORM REPORT

 

 

Report Date :

09.08.2014              

 

IDENTIFICATION DETAILS

 

Name :

SKW-TASHI METALS & ALLOYS (P) LIMITED

 

 

Registered Office :

TCC Complex Building, Post Box Number 382, Phuentsholing, Bhutan

 

 

Country :

Bhutan

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

July, 1999

 

 

Legal Form :

Pvt Limited

 

 

Line of Business :

Manufacturer Metals, Alloys and Chemicals

 

 

No. of Employees :

100

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Regular

Litigation :

Clear

 

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 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Bhutan

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

BHUTAN - ECONOMIC OVERVIEW

 

Bhutan's economy, small and less developed, is based largely on agriculture and forestry, which provide the main livelihood for more than half of the population. Because rugged mountains dominate the terrain and make the building of roads and other infrastructure difficult and expensive, industrial production is primarily of the cottage industry type. The economy is closely aligned with India's through strong trade and monetary links and is dependent on India for financial assistance and migrant laborers for development projects, especially for road construction. Multilateral development organizations administer most educational, social, and environment programs, and take into account the government's desire to protect the country's environment and cultural traditions. For example, the government, in its cautious expansion of the tourist sector, encourages visits by upscale, environmentally conscientious tourists. Complicated controls and uncertain policies in areas such as industrial licensing, trade, labor, and finance continue to hamper foreign investment. Bhutan’s largest export - hydropower to India - is creating employment and will probably sustain growth in the coming years. Only 5% of Bhutan’s 30,000 megawatt hydropower potential is currently tapped. The large amount of equipment needed to import materials to build hydropower plants has expanded Bhutan's trade and current account deficits. Bhutan’s GDP has rebounded strongly since the global recession began in 2008. Bhutan hopes to play a larger role in regional economic integration as a member of the South Asia Association for Regional Cooperation and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation

Source : CIA

Company name and address

 

SKW-Tashi Metals & Alloys (P) Limited

TCC Complex Building,

Post Box Number 382,

Phuentsholing, Bhutan

 

Email               contact@skwthasimetal.com
Telephone No. 00-975-5-252246, 252417/252415
Fax No:            00-975-5-252282/252712

 

 

Year Established

 

July, 1999

 

 

Incorporation No

 

77521/46/49

 

 

Legal Status            

 

Pvt Limited

 

 

Name of Directors   

         

Sl.No.

Name

Designation

1.

Drugyal Zhipa.

Director

2.

Desho Sonan Tasherine

Director

3.

Lam Dorji

Director

4.

Y. Chung

Director

5.

D. K. Dorji

Director

 

 

Major Shareholders         

 

Bhutan Government, Tashi Group, Marubeni Corporation

 

 

Auditors         

 

Y. Lam & Associates, Bhutan

 

 

Staff

                            

100 nos.

           

                                   

Bankers          

 

Bank of Bhutan, Phuntsholing, Bhutan

 

 

Business               

 

SKW-Tashi Metals & Alloys (P) Limited is a joint venture of the Royal Government of Bhutan, Marubeni Corporation and Tashi Commercial Corporation, the largest private Company in Bhutan. In addition to the main promoters, the financial institutions, corporate bodies and general public also hold Company’s shares. They are manufacturer Metals, Alloys and Chemicals


Import             

 

India, U.S.A., Japan, Germany.
                                               

 

Finance            

 

 

 

Remarks     

Trading Terms –             Purchase          -           L/C – 30 days  ;  Credit – 30 days

                                    Sales                -           L/C – 30 days    ;  Credit – 30 days

                                   

Well established, respectable and reputed concern, payments are reported to be correct and regular at usal trade terms and condition.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.55

UK Pound

1

Rs.103.50

Euro

1

Rs.82.41

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

PDT

 

               

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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.