MIRA INFORM REPORT

 

 

Report No. :

349106

Report Date :

19.11.2015

 

IDENTIFICATION DETAILS

 

Name :

KENPA PRIVATE LTD.

 

 

Registered Office :

Post Box No. 263 Main Road, Phuent Sheling

 

 

Country :

Bhutan

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

26.10.2004

 

 

Legal Form :

Bhutan Private Limited Company

 

 

Line of Business :

Subject is trader of dolomite power refinery oil and fruits.

 

 

No. of Employee :

200

 

 

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 :

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Bhutan

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

BHUTAN - ECONOMIC OVERVIEW

 

Bhutan's economy, small and less developed, is based largely on hydropower, 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 - could spur sustainable growth in the coming years if Bhutan resolves chronic delays in construction. Bhutan currently taps only 5% of its 30,000-megawatt hydropower potential and is behind schedule in building 12 new hydropower dams with a combined capacity of 10,000 megawatts by 2020 in accordance with a deal signed in 2008 with India. The high volume of imported materials to build hydropower plants has expanded Bhutan's trade and current account deficits. However, Bhutan and India in April 2014 agreed to begin four additional hydropower projects, which would generate 2,120 megawatts in total. A declining GDP growth rate in each of the past three years in the absence of new hydropower facilities has constrained Bhutan’s ability to institute economic reforms. Bhutan inked a pact in December 2014 to expand duty-free trade with Bangladesh, the only trade partner with which Bhutan enjoys a surplus.

 

Source : CIA

 

Company Identification Details

 

Name of Company

:

KENPA PRIVATE LTD.

Registered Office

:

Kenpa Private Ltd.

Post Box No. 263

Main Road, Phuent Sheling,
Bhutan

 

Tel: 975-5-252705

Fax: 975-5-252056

Mobile : 17110108

Email ID : kenpa@druknet.com, konpalimited@gmail.com

Office

:

As above

Industry

:

Fruit Exporter

Nature of Activity

:

Subject is trader of dolomite power refinery oil and fruits

Employees

:

200 (Approximately)

 

 

Official Company Data

 

Legal Form

:

Bhutan Private Limited Company
Corporate Identity Number (CIN)

:

B-3856
ROC Code 

:

Thimpu, Bhutan

Registration Date

:

26.10.2004
Authorised Capital

:

10,000,000/-

 
Paid-up Capital

:
1,000,000/-
Business Activity / Product

Description

:

Subject is trader of dolomite power refinery oil and fruits

Auditor

:

Choudhary ray and Associate

Kolkata

Banker

:

Bank of Bhutan Ltd., Phuentsheling, Bhutan

Bhutan National Bank Ltd., Phuentsheling, Bhutan

Import

:

Refinery Oils

Import From India

 

 

Board of Directors

Dorji Tshering (CEO)
Dawa Tshering

 

Capitalization Structure

 

Authorised Capital

:

10,000,000/-
Paid-up Capital

:
1,000,000/-

Face Value

:

Rs. 10/- each.

Last AGM

:

July 19, 2013

 

 

Shareholding Pattern

                                                                                   

Shareholders Name

No. of Equity Shares

Dorji Tshering

40%

Dorji Pelzang

20%

Dorji Kandup
20%

Dorji Khaundu
20%

Total
100%
 
                                                          

Balance Sheet

 

 

                                                                                                                                     (Amount in Nu.)

BALANCE SHEET AS AT 31.03.2013

Liabilities

Amount (Rs.)

 

Assets

Amount (Rs.)

 

 

 

 

 

Paid up Capital

1,000,000

 

Fixed Assets

10,947

Reserve & Surplus

10,618,987

 

Investments

3,000,000

Deffered Tax

8,944

 

Loans & Advances

15,348,954

Current Liabilities & Prov.

13,481,829

 

Cash & Bank

6,749,859

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

25,109,760

 

 

25,109,760

 

 

 

 

 

 

Rs.

 

Sales

21,036,920

 

Profit before Tax

10,382,600

 

Profit after Tax

6,568,911

 

 

 

 

 

 

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Anir Bantala

Designation :

Accountant

Contact No.:

00975-5-252705

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.11

UK Pound

1

Rs.100.51

Euro

1

Rs.70.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

GAY

 

Analysis Done by :

KIN

 

 

Report Prepared by :

ASH

 

 

 

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.