MIRA INFORM REPORT
|
Report No. : |
340934 |
|
Report Date : |
21.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
R.S.A. PVT. LTD. |
|
|
|
|
Registered Office : |
P.O.BOX 321,101, Sandup Lam, Phontsholing |
|
|
|
|
Country : |
Bhutan |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
10.05.1999 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Exporters and Manufacturer of Marbels, Limestone, Gypsum and Plaster
of Paris. |
|
|
|
|
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 – 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
Name and address
R.S.A. PVT. LTD.
Country: Bhutan
Add: P.O.BOX 321,101, Sandup Lam, Phontsholing
MORSA
DRUKNET.NET.BT
Tel: 00975 5 252220
Fax: 00975 5 252248
History
It is a private limited company incorporated at Thimpu, Bhutan under
Govt.
B3215 of 10.05.1999.
Directors
|
Thinle Derji (M.D.) |
|
D. R. Derji |
|
S. R. Derji |
Bankers
1. Bhutan Bank Ltd.
Phontsholing, Bhutan
Shareholding
Pattern
|
Shareholders
Name |
No. of Equity
Shares |
|
Thinle Derji (M.D.) |
30 % |
|
D. R. Derji |
30 % |
|
S. R. Derji |
20 % |
|
Others |
20 % |
|
Total |
100 % |
Auditors
B. Chand & Co., Bhutan
Business
Exporters & Mfg. : Marbels, Limestone, Gypsum and Plaster of
Paris.
Capitalization
Structure
|
Authorized Share Capital |
: |
Nu. 5,000,000 divided into 500,000 Equity Shares of Nu. 10/- each. |
|
Issued, Subscribed & Paid Up Capital |
: |
Nu. 2,616,680 divided into 261,668 Equity Shares of Nu. 10/- each. |
|
Face Value |
: |
Nu. 10/- each. |
|
Last AGM |
: |
July 15, 2013 |
Financial
Balance Sheet
(Amount in Nu 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.
Information
denied
MANAGEMENT NON
CO-OPERATIVE
TEL NO.: 975-5-254520
/ 251314 / 252120
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.92 |
|
|
1 |
Rs.102.75 |
|
Euro |
1 |
Rs.75.13 |
INFORMATION DETAILS
|
Information Gathered
By : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.