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Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
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Name : |
SCA HYGIENE PRODUCTS AB |
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Branch Office : |
Pirojshanagar, Eastern |
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Country : |
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Date of
Incorporation : |
01.05.2005 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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FCRN : |
F02517 |
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Legal Form : |
Foreign Registered Company |
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Line of Business
: |
Not Available (Closed Down) |
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No. of Employees
: |
Not Available (Closed Down) |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not recommended |
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Status : |
Closed Down |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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Comments : |
Subject is a branch office of a foreign registered company which is
incorporated in Sweden. As per the government we gathered that management of the subject
decided to close down its branch office in March 2009. Margareta Browall, the financial director was authorised to execute
all formal actions to fulfill this task. Further, as stated in a press release dated December 09, 2013 it seems
that the subject parent company has made as aggressive come back in India. However, we could not trace any such office or company due to
unavailability of complete address or appropriate contact details. In view of the information available through government registry which
shows the status as closure of branch office, it is not advised to consider
the subject for any type of business dealings. |
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 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
Unable to Contact
LOCATIONS
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Registered Office : |
SE-405, Goteborg, Sweden |
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Tel. No.: |
46-31-7460000 |
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Fax No.: |
46-31-7461980 |
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Branch Office : |
Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai –
400079, Maharashtra, India |
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Tel. No.: |
91-22-25197159 / 60 |
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Fax No.: |
91-22-25197162 |
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E-Mail : |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
Not Divulged
BUSINESS DETAILS
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Line of Business : |
Not Available (Closed Down) |
GENERAL INFORMATION
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No. of Employees : |
Not Available (Closed Down) |
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Bankers : |
Not Available |
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Banking Relations
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--- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
Not Divulged
FINANCIAL DATA
[all figures are
in Rupees Millions]
CLOSED DOWN
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
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1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
No |
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5] |
Type of Business |
No |
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6] |
Line of Business |
No |
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7] |
Promoter's background |
No |
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8] |
No. of employees |
No |
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9] |
Name of person contacted |
No |
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10] |
Designation of contact person |
No |
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11] |
Turnover of firm for last three years |
No |
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12] |
Profitability for last three years |
No |
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13] |
Reasons for variation <> 20% |
---------------------- |
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14] |
Estimation for coming financial year |
No |
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15] |
Capital in the business |
No |
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16] |
Details of sister concerns |
No |
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17] |
Major suppliers |
No |
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18] |
Major customers |
No |
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19] |
Payments terms |
No |
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20] |
Export / Import details (if applicable) |
No |
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21] |
Market information |
---------------------- |
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22] |
Litigations that the firm / promoter involved in |
---------------------- |
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23] |
Banking Details |
No |
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24] |
Banking facility details |
No |
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25] |
Conduct of the banking account |
---------------------- |
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26] |
Buyer visit details |
---------------------- |
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27] |
Financials, if provided |
No |
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28] |
Incorporation details, if applicable |
No |
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29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
No |
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31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
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32] |
PAN of Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
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34] |
External Agency Rating, if available |
No |
AS PER WEBSITE
Press Release
SCA INVESTS IN INDIA
2013-09-12
SCA will invest about SEK 150m in local production of hygiene products in southwest India. Production at SCA’s own plant is planned to commence in 2015.
“This investment creates a solid platform for us to leverage the favorable growth opportunities that exist in the hygiene products area in India. The investment is in line with our strategy of strengthening SCA’s presence in emerging markets,” says Jan Johansson, President and CEO of SCA and continues:
“India’s large population and the low penetration of hygiene products provide the potential for future growth. The aim is to introduce SCA’s hygiene products in the Indian market already in the latter part of 2013.”
The brands that SCA intends to launch in the Indian market include the world-leading brands TENA, for incontinence products, and Tork, for Away-From-Home (AFH) tissue. The Libero brand for baby diapers and baby care products and Tempo for consumer tissue will also be introduced.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.18 |
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1 |
Rs.102.31 |
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Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
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Information
Gathered by : |
HET |
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Report Prepared
by : |
NTH |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.