MIRA INFORM REPORT

 

 

Report No. :

309146

Report Date :

02.03.2015

 

IDENTIFICATION DETAILS

 

Name :

ASTER TELESERVICES NEPAL (PVT) LIMITED

 

 

Registered Office :

#109, Ward No. 10, Okharbot Marga, New Baneshwor Kathmandu

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

31.12.2009

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is an engineering services company, offering wide range of diverse and dependable customized turnkey solutions for various industrial and consumer needs.

 

 

No. of Employee :

Not Available

 

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 :

No complaints

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Nepal

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

NEPAL - ECONOMIC OVERVIEW

 

Nepal is among the poorest and least developed countries in the world, with about one-quarter of its population living below the poverty line. Nepal is heavily dependent on remittances, which amount to as much as 22-25% of GDP. Agriculture is the mainstay of the economy, providing a livelihood for more than 70% of the population and accounting for a little over one-third of GDP. Industrial activity mainly involves the processing of agricultural products, including pulses, jute, sugarcane, tobacco, and grain. Nepal has considerable scope for exploiting its potential in hydropower, with an estimated 42,000 MW of commercially feasible capacity, but political uncertainty and a difficult business climate have hampered foreign investment. Additional challenges to Nepal's growth include its landlocked geographic location, persistent power shortages, underdeveloped transportation infrastructure, civil strife and labor unrest, and its susceptibility to natural disaster. The lack of political consensus in the past several years has delayed national budgets and prevented much-needed economic reform, although the government passed a full budget in 2013.

 

Source : CIA

 

Company name & address

 

ASTER TELESERVICES NEPAL (PVT) LIMITED

#109, Ward No. 10, Okharbot Marga, New Baneshwor Kathmandu, Nepal

Tel:+977 (0) 1446 4431

 

 

Summary

 

History :           It is a private limited company incorporated at Kathmandu under His Majesty Govt.

                        Act No.69120 of 31.12.2009

 

Directors :        


Indira Parikh
S S Sastry

Raghunath Akasam

B.K. Srestha

 

Bankers :          1.         Nepal Bank Ltd., Kathmandu (Nepal)

Nepal Grindlays Bank, Kathmandu (Nepal)

Bank of Kathmandu, Kathmandu (Nepal)

 

Shareholders:               

                        Aster Tele Services, Canada hold 40%

                        Directors and their relative hold 60% shares.

 

Auditors:           S. K. Shrestha & Co., New Road., Kathmandu (Nepal)

 

 

Business

           

Aster is an engineering services company, offering wide range of diverse and dependable customized turnkey solutions for various industrial and consumer needs. Aster has made its presence felt throughout India and is now quickly ramifying into other continents and countries too.

We have proved our competencies by providing turnkey solutions as the following:

 

Transmission & Distribution

 

Design and Supply of Transmission Towers
Transmission Lines Construction
EHV Substations Construction
Distribution Systems
Transformers

Telecom

 

Project Management Services
RF Engineering Services
Telecom Towers Design & Supply
Engineering Constructions & Projects
Engineering Services
Operations & Maintenance

 

Trade trams       :           Canada, India

 

 

Financial   

                                   

Authorised Capital : 5,000,000/- (50,000 Equity Shares of NP.Rs.100/- each)

Paidup : 4,670,400/- (46,704 of NP.Rs.100/- each)

 

 

 

 

 

 

BALANCE SHEET AS AT 31.03.2013

 

 

 

 

 

Liabilities

Amount (Nep Rs.)

 

Assets

Amount (Nep Rs.)

 

 

 

 

 

Paid up Capital

4,670,400

 

Fixed Assets

19,314,434

Reserve & Surplus

53,583,115

 

Sundry Debtors

71,251,051

Secured Loan

84,115,017

 

Investments

33,204,897

Unsecured Loan

3,723,764

 

Inventories

18,508,982

Current Liabilities & Prov.

76,507,752

 

Cash & Bank

18,425,524

 

 

 

Loans & Advances

29,325,037

 

 

 

Miscellaneous

1,570,123

 

 

 

Other Current Assets

31,000,000

Total

222,600,048

 

 

222,600,048

 

 

 

 

 

 

Rs.

 

 

 

Sales

145,763,233

 

 

 

Profit Before Tax

11,546,400

 

 

 

Profit After Tax

8,321,200

 

 

 

 

 

 

 

 

 

Remarks :         Payments are reported to be correct and regular as per commitments.  Trade relations are fair. Consider good for medium amount.


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.79

UK Pound

1

Rs.95.42

Euro

1

Rs.69.29

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SDA

 

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.