MIRA
INFORM REPORT
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Report Date : |
27.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SCHLUMBERGER
ASIA SERVICES LIMITED |
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India Office : |
NSE
Estate, W E Highway, Goregaon (East), Mumbai – 400063,Maharashtra, India |
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Country : |
India |
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Date of Incorporation : |
01-09-1987 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS21903A |
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PAN No.: [Permanent
Account No.] |
AADCS1107J |
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Legal Form : |
A
Closely Held Public Limited Liability Company. |
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Line of Business : |
Ø
To
provide wire line logging, perforating and related services. Ø
To
import, export, buy, sell and deal in goods, materials, substances, articles
and merchandise of all kinds in, from and to any part of the world, Whether
as principal or as agent. Ø
To
carry on the business of an investment company and/or a holding company. Ø
To
carry on in any part of the world all or any of the business of agents,
managers, brokers, advisers and consultants. Ø
To
undertake and execute any trusts the undertaking Where of may seem desirable
and to undertake the office of or act as executor, administrator, director,
treasurer, accountant, secretary, registrar, custodian, depository or nominee
or in such other capacity as the Directors may from time to time think fit. Ø
To
carry on any other business of any nature what so ever Which may seem to the
Directors to be capable of being conveniently carried on in connection or
conjunction expedient with a view to rendering profitable or more profitable
any of the Company’s assets or utilising its know-how or expertise. Ø
To
subscribe, underwrite, Purchase, or otherwise acquire, and to hold, dispose
of, and deal with, any shares or other securities or investments of any
nature what so ever, and any options or rights in respect there of, and to
buy and sell foreign exchange. Ø
To
draw, make accept, endorse, discount, negotiate, execute, and issue, and to
buy, sell and deal with bills of exchange, promissory notes, and other
negotiable or transferable instruments or securities. |
RATING & COMMENTS
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MIRA’s Rating : |
Undetermined |
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Maximum Credit Limit : |
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Status : |
Foreign
Company |
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Comments : |
Subject
is a Company incorporated in Hong Kong. In India, they have just a liaison
office. It would be advisable to obtain report from Hong Kong on this
company. On
Confirming, we can prepage report for you for Hong Kong based Company. |
LOCATIONS
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Registered Office : |
2507,
Gloucester Tower, The Landmark, 11 Peddar Street, Hong Kong |
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Line India offices |
Ø
Timber
Plot No 10, Madras Harbour, Madras, Tamil Nadu- 600009, India. Ø
NSE
Estate, W E Highway, Goregaon (East), Mumbai – 400063,Maharashtra, India |
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Tel. No.: |
91-984-0050857 |
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Fax No.: |
91-22-26854222 |
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DIRECTORS
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Name : |
Mr.
Brian Wallace |
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Designation : |
Director |
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Address : |
P. O.
Box 9261, Dubai International Trade Centre, Abu Dhabi Road, Dubai, UAE |
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Name : |
Mr.
Jean Pierre Broseet |
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Designation : |
Director |
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Address : |
P. O.
Box 9261, Dubai International Trade Centre, Abu Dhabi Road, Dubai, UAE |
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Name : |
Mr.
Kanfred Wittman |
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Designation : |
Director |
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Address : |
36
Pejataan Barat, Kemang, Jakarta, Indonesia |
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Name : |
Inveresk
Secretaries Limited |
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Designation : |
Company
Secretary |
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Address : |
2507,
Gloucester Tower, The Landmark, 11, Peddar Street, Hong Kong. |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
No. of Shares |
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Stewart
P Smith |
1 |
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Stewart
P Smith |
1 |
BUSINESS DETAILS
|
Line of Business : |
Ø
To
provide wire line logging, perforating and related services. Ø
To
import, export, buy, sell and deal in goods, materials, substances, articles
and merchandise of all kinds in, from and to any part of the world, Whether
as principal or as agent. Ø
To
carry on the business of an investment company and/or a holding company. Ø
To
carry on in any part of the world all or any of the business of agents,
managers, brokers, advisers and consultants. Ø
To
undertake and execute any trusts the undertaking Where of may seem desirable
and to undertake the office of or act as executor, administrator, director,
treasurer, accountant, secretary, registrar, custodian, depository or nominee
or in such other capacity as the Directors may from time to time think fit. Ø
To
carry on any other business of any nature what so ever Which may seem to the
Directors to be capable of being conveniently carried on in connection or
conjunction expedient with a view to rendering profitable or more profitable
any of the Company’s assets or utilising its know-how or expertise. Ø
To
subscribe, underwrite, Purchase, or otherwise acquire, and to hold, dispose
of, and deal with, any shares or other securities or investments of any
nature what so ever, and any options or rights in respect there of, and to
buy and sell foreign exchange. Ø
To
draw, make accept, endorse, discount, negotiate, execute, and issue, and to
buy, sell and deal with bills of exchange, promissory notes, and other
negotiable or transferable instruments or securities. |
GENERAL
INFORMATION
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Bankers : |
Not
Divulged |
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Facilities : |
-- |
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Banking Relations : |
-- |
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs. 44.64 |
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UK
Pound |
1 |
Rs.86.51 |
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Euro |
1 |
Rs.58.62 |
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%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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