According to CSC executives, HPPL
owns 70% of the project, POSCO and Marubeni each hold a 12.
The rating reflects the HPPL group's weak financial risk profile, marked by high gearing, weak debt protection measures, and small net worth, and its large working capital requirements.
This is because all these companies, together referred to as the HPPL group, are under a common management, operate in similar lines of business, and have operational and financial linkages.
CRISIL believes that the HPPL group will continue to benefit over the medium term from its promoters' experience in the polymer-trading industry.
The HPPL group began its operations in the 1990s with one of its companies, Rateria, being appointed as consignee stockist of GAIL (India) Ltd for eastern India.
Within this short span of time HPPL has launched three projects in Cochin comprising more than 400 apartments and these were well received by the market," said Mr Kuruvilla.
The innovative concept of fully furnished air-conditioned apartments was introduced by HPPL to Kerala through Hoysala Nestor in the prime location opposite the collectorate at Kakkanadu, Cochin.
HPPL is now starting its operations in the Gulf by opening an office in Qatar, Mr Kuruvilla said.
HPPL has been discussing with LG Electronics the terms of an appropriate license for LGE's PDP products under various relevant patents, including the asserted patents in the infringement lawsuit above.
HPPL owns and manages a portfolio of patents concerning PDP technology for the benefit of Hitachi.
CHALLENGING Peter Laurence and Heather Purdy who run HPPL