MIRA INFORM REPORT

 

 

Report No. :

322162

Report Date :

20.05.2015

 

IDENTIFICATION DETAILS

 

Name :

STATUS TRADING (P) LTD

 

 

Registered Office :

P.O. Box 3295, Kamalpokhari, Kathmandu

 

 

Country :

Nepal

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

Not Available

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Subject is engaged in Flooring, furnishing, adhesive

 

 

No. of Employees :

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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 and 2014. Nepal and India signed trade and investment agreements in 2014 that will amp up Nepal’s hydropower potential.

 

Source : CIA

 

Company name and address

 

Status Trading (P) Ltd

P.O. Box 3295, Kamalpokhari, Kathmandu, Nepal
Tel: 977-1-4620345, 4228382
Fax: 977-1-4225351
email: fnfurnishing@wlink.com.np

 

 

History     

 

It is a private limited company incorporated at Kathmandu under Govt.

Act No.51768 of 05-11-2007

 

 

Directors

 

Mr. Surendra Kumar Sharada

Mr. Narendra Kumar Sharada

Mr. Sushil Kumar Sharada

Mr. Rajesh Kazi Shrestha

 

Bankers     

 

Nepal Standard Chattered Bank., Kathmandu (Nepal)

Nepal Grindlays Bank, Kathmandu (Nepal)

 

 

Auditors    

 

N.Amartya & Co

Pulchuwk

Lalitpur,Nepal.

 

 

Business    

 

Flooring, furnishing, adhesive

 

 

Capitalization Structure

 

Authorized Share Capital

:             

Rs. 5,000,000 divided into 500,000 Equity Shares of Rs. 10/- each.

Issued, Subscribed & Paid Up Capital

:

Rs. 2,616,680 divided into 261,668 Equity Shares of Rs. 10/- each.

Face Value

:

Rs. 10/- each.

Last AGM

:

July 15, 2013

 

.

Financial

 

Balance Sheet

                                                                                    (Amount in Rupees Mln.)

Particular

March 31, 2013

March 31, 2012

Sources of Funds

Share Capital

2.62

0.59

Reserves & Surplus

13.56

3.40

Unsecured Loans

2.67

4.30

Deferred Tax Liability (Net)

0.01

0.01

Total Liabilities

18.86

8.30

Application Of Funds

Gross Block

1.28

0.88

Less:  Depreciation

0.43

0.24

Net Block

0.85

0.64

Current Assets, Loan and Advances

Inventories

30.24

22.01

Sundry Debtors

10.84

9.63

Cash And Bank Balances

0.14

0.82

Loans and Advances

2.49

1.31

 

43.71

33.77

Less : Current Liabilities & Provisions

Current Liabilities

23.56

25.09

Provisions

2.18

1.06

 

25.74

26.15

Net Current Assets

17.97

7.62

Miscellaneous Expenditure

0.04

0.04

Total Assets

18.86

8.30

 

Remarks : Payments are reported to be correct and regular as per commitments.  Trade relations are fair. Consider good for normal business Engagement as usual trade terms & condition..

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.69

UK Pound

1

Rs.99.73

Euro

1

Rs.71.90

 

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SHG

 

               

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.