MIRA INFORM REPORT

 

 

Report No. :

328148

Report Date :

20.06.2015

 

IDENTIFICATION DETAILS

 

Name :

MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD

 

 

Registered Office :

668, Chander Road, 02-18, 210668

 

 

Country :

Singapore

 

 

Date of Incorporation :

21.02.1989

 

 

Com. Reg. No.:

198900680-Z

 

 

Legal Form :

Exempt Private

 

 

Line of Business :

Department Stores Cum Supermarkets & General Wholesale Trading.

 

 

No. of Employees :

1600 [2015]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

Litigation :

Exist

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. Unemployment is very low. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports. Growth in 2014 was slower at 13.9%, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations and, with the nine other ASEAN members, will form the ASEAN Economic Community in 2015.

 

Source : CIA

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

198900680-Z

COMPANY NAME

:

MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

21/02/1989

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

668, CHANDER ROAD, 02-18, 210668, SINGAPORE.

BUSINESS ADDRESS

:

MUSTAFA CENTRE 145, SYED ALWI ROAD, 207704, SINGAPORE.

TEL.NO.

:

65-62955855

FAX.NO.

:

65-62982692

CONTACT PERSON

:

MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA ( DIRECTOR )

PRINCIPAL ACTIVITY

:

DEPARTMENT STORES CUM SUPERMARKETS & GENERAL WHOLESALE TRADING

ISSUED AND PAID UP CAPITAL

:

13,340,000.00 ORDINARY SHARE, OF A VALUE OF SGD 13,340,000.00

SALES

:

N/A

NET WORTH

:

N/A

STAFF STRENGTH

:

1600 [2015]

BANKER (S)

:

MALAYAN BANKING BHD
UCO BANK
AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD
INDIAN OVERSEAS BANK
OVERSEA-CHINESE BANKING CORPORATION LTD
DBS BANK LTD
STANDARD CHARTERED BANK
THE BANK OF EAST ASIA LIMITED
CITIBANK N.A.
THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED
UNITED OVERSEAS BANK LIMITED
OVERSEA-CHINESE BANKING CORPORATION LIMITED

LITIGATION

:

TRACED

FINANCIAL CONDITION

:

N/A

PAYMENT

:

N/A

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

HIGH

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

HISTORY/ BACKGROUND

 

The Subject is an exempt private company whose shares are not held by any corporate body and has no more than 20 shareholders who are all natural persons. An exempt company is a type of private limited company. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, suing or be sued by other companies. An exempt private company with an annual turnover of less than SGD5 million are exempted from statutory auditing requirements. Instead of filing audited annual accounts, the Subject has to file in a document duly signed by its director in charge of its finance and the company secretary stating that the Subject is able to meet all its obligations as and when they fall due. The Subject is not required to have their accounts audited. However, the Subject will prepare unaudited accounts for purposes of AGMs and filing with Registry Office if it is unable to meet all its obligations as and when they fall due.

 

The Subject is principally engaged in the (as a / as an) department stores cum supermarkets & general wholesale trading.

 

Share Capital History

Date

Issue & Paid Up Capital

23/01/2015

SGD 13,340,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

MR. MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA +

119, KENG LEE ROAD, 1130, SINGAPORE.

S2019378F

8,171,170.00

61.25

ESTATE OF SHAMSUDDIN
[DECEASED]

5, VERDUN ROAD, 07-02, SPA BUILDING, 207274, SINGAPORE.

S2077946B

2,016,993.00

15.12

ISHRET JAHAN +

119, KENG LEE ROAD, 09-01, 308405, SINGAPORE.

S2595621D

1,165,667.00

8.74

ESTATE OF MUSTAFA
[DECEASED]

119, KENG LEE ROAD, 308405, SINGAPORE.

S2101665I

1,986,170.00

14.89

---------------

------

13,340,000.00

100.00

============

=====

+ Also Director

 

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :

 

Local No

Country

Company

(%)

As At

200101778R

SINGAPORE

MUSTAFA DEVELOPMENT PTE LTD

99.99

21/01/2015

199305738D

SINGAPORE

MUSTAFA ADVERTISING & MAIL ORDER PTE LTD

99.99

21/01/2015




 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

IQBAL AHMAD

Address

:

119, KENG LEE ROAD, 308405, SINGAPORE.

IC / PP No

:

S2586147G

Nationality

:

SINGAPOREAN

Date of Appointment

:

03/09/2001

 

DIRECTOR 2

 

Name Of Subject

:

SHAMA BANO

Address

:

119, KENG LEE ROAD, 07-01, 308405, SINGAPORE.

IC / PP No

:

S7770799I

Nationality

:

SINGAPOREAN

Date of Appointment

:

14/02/2001

 

DIRECTOR 3

 

Name Of Subject

:

ABU OSAMA

Address

:

119, KENG LEE ROAD, 308405, SINGAPORE.

IC / PP No

:

S7170545E

Nationality

:

SINGAPOREAN

Date of Appointment

:

24/12/2014

 

DIRECTOR 4

 

Name Of Subject

:

ISHRET JAHAN

Address

:

119, KENG LEE ROAD, 09-01, 308405, SINGAPORE.

IC / PP No

:

S2595621D

Nationality

:

SINGAPOREAN

Date of Appointment

:

19/06/1991

 

DIRECTOR 5

 

Name Of Subject

:

MR. MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA

Address

:

119, KENG LEE ROAD, 1130, SINGAPORE.

IC / PP No

:

S2019378F

Nationality

:

SINGAPOREAN

Date of Appointment

:

21/02/1989


MANAGEMENT

 

 

 

1)

Name of Subject

:

MUSTAQ AHMAD @ MUSHTAQ AHMAD S/O MUSTAFA

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

NATARAJAN & SWAMINATHAN

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

IQBAL AHMAD

IC / PP No

:

S2586147G

Address

:

119, KENG LEE ROAD, 308405, SINGAPORE.

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

MALAYAN BANKING BHD

 

2)

Name

:

UCO BANK

 

3)

Name

:

AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD

 

4)

Name

:

INDIAN OVERSEAS BANK

 

5)

Name

:

OVERSEA-CHINESE BANKING CORPORATION LTD

 

6)

Name

:

DBS BANK LTD

 

7)

Name

:

STANDARD CHARTERED BANK

 

8)

Name

:

THE BANK OF EAST ASIA LIMITED

 

9)

Name

:

CITIBANK N.A.

 

10)

Name

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

11)

Name

:

UNITED OVERSEAS BANK LIMITED

 

12)

Name

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C200305315

07/11/2003

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

-

Unsatisfied

C200305316

07/11/2003

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

-

Unsatisfied

C200305321

07/11/2003

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

-

Unsatisfied

C200305669

26/11/2003

N/A

MALAYAN BANKING BHD

-

Unsatisfied

C200403202

02/07/2004

N/A

UCO BANK

-

Unsatisfied

C200404463

09/09/2004

N/A

THE BANK OF EAST ASIA LIMITED

-

Unsatisfied

C200502824

17/05/2005

N/A

STANDARD CHARTERED BANK (SINGAPORE)

-

Unsatisfied

C200503442

16/06/2005

N/A

DBS BANK LTD.

-

Unsatisfied

C200608068

29/11/2006

N/A

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

-

Unsatisfied

C200700134

08/01/2007

N/A

DBS BANK LTD.

-

Unsatisfied

C200700135

08/01/2007

N/A

DBS BANK LTD.

-

Unsatisfied

C200702630

05/04/2007

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

-

Unsatisfied

C200803214

08/04/2008

N/A

INDIAN OVERSEAS BANK

-

Unsatisfied

C200806091

04/07/2008

N/A

CITIBANK N.A.

-

Unsatisfied

C201007219

17/08/2010

N/A

UNITED OVERSEAS BANK LIMITED

-

Unsatisfied

C201008079

11/09/2010

N/A

INDIAN OVERSEAS BANK

-

Unsatisfied

C201105789

12/05/2011

N/A

INDIAN OVERSEAS BANK

-

Unsatisfied

C201112082

27/09/2011

N/A

DBS BANK LTD.

-

Unsatisfied

C201112085

27/09/2011

N/A

DBS BANK LTD.

-

Unsatisfied

C201201077

28/01/2012

N/A

EXPORT-IMPORT BANK OF INDIA

-

Unsatisfied

C201202022

22/02/2012

N/A

DBS BANK LTD.

-

Unsatisfied

C201202023

22/02/2012

N/A

DBS BANK LTD.

-

Unsatisfied

C201205484

18/05/2012

N/A

OVERSEA-CHINESE BANKING CORPORATION LIMITED

-

Unsatisfied

C201402458

06/03/2014

N/A

CTBC BANK CO., LTD

-

Unsatisfied

201408030

31/07/2014

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

-

Unsatisfied

C201408049

01/08/2014

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

-

Unsatisfied

C201408051

01/08/2014

N/A

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

-

Unsatisfied

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank against the Subject whether the subject has been involved in any litigation.

LEGAL ACTION

 

 

Code No

:

99

Case No

:

16601

Year

:

2010

Place

:

SINGAPORE

Court

:

MAGISTRATE COURT

Date Filed

:

29/06/2010

Solicitor Ref

:

DK/RA/478/2008

Solicitor Firm

:

DILIP KUMAR ASSOCIATES

Plaintiff

:

MUHAMMAD AKHTAR HAYAT

Defendants

:

MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD (198900680)

Remark

:

TORT-NEGLIGENCE (INDUSTRIAL ACCIDENT)

Code No

:

99

Case No

:

32160

Year

:

2012

Place

:

SINGAPORE

Court

:

MAGISTRATE COURT

Date Filed

:

04/12/2012

Solicitor Ref

:

BK.12958.12

Solicitor Firm

:

BONNIE KWOK LLC

Plaintiff

:

CHIA OW POO

Defendants

:

MOHAMED MUSTAFA & SAMSUDDIN CO. PTE LTD (198900680)

Amount Claimed

:

3790

Nature of Claim

:

SGD

Remark

:

TORT-NEGLIGENCE (PROFESSIONAL ACCIDENTS WITHOUT)

 

No winding up petition was found in our databank

 

 

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

YES

Overseas

:

YES

 

 

 

CLIENTELE

 

Local

:

YES

Percentage

:

100%

Domestic Markets

:

SINGAPORE

Overseas

:

NO

Credit Term

:

N/A

Payment Mode

:

CASH
CHEQUES

 

 

OPERATIONS

 

Services

:

DEPARTMENT STORES CUM SUPERMARKETS

 

Total Number of Employees:

 

YEAR

2015

2014

2013

2012

2011

GROUP

N/A

N/A

N/A

N/A

N/A

COMPANY

1600

1600

800

800

800

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) department stores cum supermarkets & general wholesale trading.

The Subject stores are well known for selling products catered to a wide variety of needs and people. It has products for the entire range of people, from the construction workers to the well-to-do. The store stocks more than 120,000 items, ranging from ready-made apparel to jewellery, sundry items and household goods to luggage bags and electronics. The company conducts regular consumer surveys and market research to know what people want in order to cater to their needs. Hence, its product mix changes with customer needs.


Prices of products sold at the Subject are lower than its competitors with a profit margin not exceeding 15%. The lower prices are possible because of the huge turnover. Goods are imported directly, eliminating the need for middlemen. They are bought in much bigger quantities, so lower prices can be offered. The goods are bought at the cheapest possible sources, from countries such as Malaysia, Indonesia, Thailand, Hong Kong and Singapore itself. It is this simple business strategy that has worked for the company since its beginning: "to buy and sell at the lowest prices possible".


Hence, it is this wide range of products at reasonable and fair prices that attracts people to its stores. On any given day, it sees an average of 15,000 customers. Its customer base is made up of 60 %. Singaporeans, both locals and expatriates, and 40 % tourists. In terms of ethnicity, Indians form about 65 per cent of its customers. These satisfied customers give the stores much needed and appreciated word-of-mouth publicity by recommending them to others.


Product categories:
* Accessories
* Cosmetics
* Electronics
* Home appliance
* Jewellery
* Mobile phones
* Pharmacy
* Super market
* Textiles

Services:
* Foreign exchange
* Visa processing
* Travels booking
* Gold mart
* All kinds of shopping items

Agent/distributor for:
* Brother International Corporation (JP)

The Subject is a member of the following entity:
* Singapore Retailers Association


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

065) 64190860

Current Telephone Number

:

65-62955855

Match

:

YES

Address Provided by Client

:

MUSTAFA CENTRE 145, SYED ALWI ROAD,207704,SINGAPORE

Current Address

:

MUSTAFA CENTRE 145, SYED ALWI ROAD, 207704, SINGAPORE.

Match

:

YES


We have contacted the Subject's Accountant and its Company Secretary for the latest financial accounts. However they have rejected our request in view of the confidentiality of the documents.

 

Other Investigations


We contacted one of the staff from the Subject and she provided some information.

The address provided belongs to the Subject's registered office.



FINANCIAL ANALYSIS

 

The Subject is a private exempt company which does not need to file in its accounts with the Registrar of Companies for the information of the public. Therefore, we are not able to comment on the Subject's financial performance.

Overall financial condition of the Subject : N/A

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2009

2010

2011

2012

2013

 

Population (Million)

4.98

5.08

5.18

5.31

5.40

Gross Domestic Products ( % )

(0.8)

14.5

4.9

1.3

3.7

Consumer Price Index

0.6

2.8

5.2

4.6

2.4

Total Imports (Million)

356,299.3

423,221.8

459,655.1

474,554.0

466,762.0

Total Exports (Million)

391,118.1

478,840.7

514,741.2

510,329.0

513,391.0

 

Unemployment Rate (%)

3.2

2.2

2.1

2.0

1.9

Tourist Arrival (Million)

9.68

11.64

13.17

14.49

15.46

Hotel Occupancy Rate (%)

75.8

85.6

86.5

86.4

86.3

Cellular Phone Subscriber (Million)

1.37

1.43

1.50

1.52

1.97

 

Registration of New Companies (No.)

26,414

29,798

32,317

31,892

37,288

Registration of New Companies (%)

4.3

12.8

8.5

(1.3)

9.8

Liquidation of Companies (No.)

22,393

15,126

19,005

17,218

17,369

Liquidation of Companies (%)

113.4

(32.5)

25.6

9.4

(5.3)

 

Registration of New Businesses (No.)

26,876

23,978

23,494

24,788

22,893

Registration of New Businesses (%)

8.15

(10.78)

2.02

5.51

1.70

Liquidation of Businesses (No.)

23,552

24,211

23,005

22,489

22,598

Liquidation of Businesses (%)

11.4

2.8

(5)

(2.2)

0.5

 

Bankruptcy Orders (No.)

2,058

1,537

1,527

1,748

1,992

Bankruptcy Orders (%)

(11.5)

(25.3)

(0.7)

14.5

14.0

Bankruptcy Discharges (No.)

3,056

2,252

1,391

1,881

2,584

Bankruptcy Discharges (%)

103.7

(26.3)

(38.2)

35.2

37.4

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

3.25

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(1.93)

(10.5)

12.10

(0.5)

-

 

Manufacturing *

71.5

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

90.4

96.4

100.0

103.5

103.5

Textiles

145.9

122.1

100.0

104.0

87.1

Wearing Apparel

211.0

123.3

100.0

92.1

77.8

Leather Products & Footwear

79.5

81.8

100.0

98.6

109.8

Wood & Wood Products

101.4

104.0

100.0

95.5

107.4

Paper & Paper Products

95.4

106.1

100.0

97.4

103.2

Printing & Media

100.9

103.5

100.0

93.0

86.1

Crude Oil Refineries

96.4

95.6

100.0

99.4

93.5

Chemical & Chemical Products

80.3

97.6

100.0

100.5

104.1

Pharmaceutical Products

49.1

75.3

100.0

109.7

107.2

Rubber & Plastic Products

101.2

112.3

100.0

96.5

92.9

Non-metallic Mineral

91.9

92.5

100.0

98.2

97.6

Basic Metals

92.6

102.2

100.0

90.6

76.5

Fabricated Metal Products

90.8

103.6

100.0

104.3

105.1

Machinery & Equipment

57.3

78.5

100.0

112.9

114.5

Electrical Machinery

86.8

124.1

100.0

99.3

108.5

Electronic Components

85.2

113.6

100.0

90.6

94.3

Transport Equipment

96.0

94.0

100.0

106.3

107.5

 

Construction

(36.9)

14.20

20.50

28.70

-

Real Estate

1.4

21.3

25.4

31.9

-

 

Services

Electricity, Gas & Water

1.70

4.00

7.00

6.30

-

Transport, Storage & Communication

3.90

12.80

7.40

5.30

-

Finance & Insurance

(16.4)

(0.4)

8.90

0.50

-

Government Services

4.50

9.70

6.90

6.00

-

Education Services

0.10

(0.9)

(1.4)

0.30

-

 

* Based on Index of Industrial Production (2011 = 100)



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale and retail trade sectors have expanded by 2.0% in the third quarter of 2014, extending the 1.8 per cent growth in the previous quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining by 1.4% the year before. Growth of the sector was driven by the wholesale trade segment.

The domestic wholesale trade index has increased by 3.2% in the fourth quarter of 2013, moderating from the 6.6% growth in the previous quarter. The slower growth was due to a decline in the sales of furniture and household equipment (-12%) and petroleum and petroleum products (-0.6%). For the full year, the domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in 2012. On the other hand, the foreign wholesale trade index has increased by a slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion in the preceding quarter. The slowdown was due to a fall in the sales of telecommunication equipment and computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full year, the growth of the foreign wholesale trade index moderated slightly to 8.6% from 9.1% in the previous year.

In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending the 5.6% decline in the previous quarter. Excluding motor vehicles, retail sales volume increased by 0.4%, a slower pace of expansion as compared to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32% decline in the previous quarter. Meanwhile, the sales of several discretionary items also fell in the fourth quarter of 2013. For instance, the sales of telecommunications apparatus and computers fell by 12%, while the sales of furniture and household equipment declined by 5.4%.

For the full year, retail sales volume contracted by 4.3%, a reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and jewellery recorded the largest increase (11%) in sales in 2013, followed by optical goods and book (3%) and medical goods and toiletries (3%). By contrast, the sales of telecommunications apparatus and computer (-7.3%), furniture and household equipment (-4.2%) and petrol service stations (-1.4) declined in 2013.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 1989, the Subject is an Exempt Private company, focusing on department stores cum supermarkets & general wholesale trading. The Subject has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the Subject to further enhance its business in the near term. The Subject is expected to enjoy a stable market shares. A paid up capital of SGD 13,340,000 allows the Subject to expand its business more comfortably. However, the Subject does not have strong shareholders’ backing. Without a strong shareholders' backing, the opportunity of the Subject to expand its business is limited.

Investigation revealed that the Subject concentrates only on the local market. This narrow market segment has placed the Subject at high business risk and limits its business expansion opportunities. Any adverse changes to the local economy might have a negative impact on the Subject's business performance. Being a large entity, the Subject has a steady workforce of 1600 personnel to support its business operations. Its future prospects seem to be fairly good as its business operations are running relatively stable. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

As the Subject is registered as an Exempt Private company, it is not required to file financial statements for public review. As such, we are unable to ascertain its present financial health.

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.

The industry shows an upward trend and this trend is very likely to sustain in the near terms.

In view of the above, we recommend credit be granted to the Subject with close monitoring.

 

 

 

FINANCIAL ACCOUNT


No latest financial accounts are available at the Registry Office.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.82

UK Pound

1

Rs.101.26

Euro

1

Rs.72.36

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

 

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.