MIRA
INFORM REPORT
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Report Date : |
05.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MICROLAND LIMITED |
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Registered Office : |
Microland House, Koramangala 7, Bangalore – 560095, India |
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Country : |
India |
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Financials (as on) : |
30.09.2004 |
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Date of Incorporation : |
20.04.1989 |
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Com. Reg. No.: |
08-14450 |
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CIN No.: [Company
Identification No.] |
U85110KA1989PLC014450 / U30006TN1989PLC017275 |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Provider of Software Services, Networking Solutions and Services. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Poor |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having poor track. Company’s
profitability is under severe pressure. It has huge accumulated loose. Payments
are reported as slow and delayed. The company can be considered for any business dealings against fully
safe and secured trade terms and conditions. |
LOCATIONS
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Registered Office / Corporate Office : |
# 58, 80 Feet Road, Koramangala Block 7, Bangalore - 560 095
India |
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Tel. No.: |
91-80-25711340 |
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Fax No.: |
91-80-25710992 |
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Website : |
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Microland Center 1, 2 & 3 : |
777, 2nd Floor, 3rd Cross,
18th Main, Koramangala Block 6, Bangalore - 560 095 India |
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Tel. No.: |
91-80-2550 3313 / 14 / 15 / 16 / 17 / 18 |
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Fax No.: |
91-80-2550 3319 |
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Microland
Center 4 : |
401, Block A, Cyber Park, Phase
1, Hosur Road, Electronics City, Bangalore – 560 100 India |
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Location
: |
91-80-5199 3600 |
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Microland Center 5 : |
3rd Floor, No. 88P, EPIP, Whitefield Industrial Area, Bangalore 560
066 India |
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Tel. No.: |
91-80-5125 9271 / 74 |
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Branches : |
Located at : Ø
California Ø
New Jersey Ø London Ø Chennai Ø New Delhi Ø Mumbai |
DIRECTORS
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Name : |
Mr. Pradeep Kar |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. Jawahar Bekay |
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Designation : |
Director |
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Name : |
Mr. Pravin Gandhi |
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Designation : |
Director |
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Name : |
Mr. S. C. Bhatia |
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Designation : |
Director |
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Name : |
Ms. Revathy Ashok |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Annie George |
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Designation : |
Company Secretary |
BUSINESS DETAILS
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Line of Business : |
Provider of Software Services, Networking Solutions and Services. |
GENERAL
INFORMATION
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No. of Employees : |
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Bankers : |
Citibank N. A. USA |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Price Waterhouse Chartered Accountants |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000,000 |
Equity Shares |
Rs. 1/- each |
Rs. 100.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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63,896,770 |
Equity Shares |
Rs. 1/- each |
Rs. 63.897
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
30.09.2004 [12 Months] |
30.09.2003 [12 Months] |
01.04.2000 to 30.09.2002 [18 Months] |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
63.897 |
63.897 |
63.900 |
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2] Reserves & Surplus |
340.572 |
340.572 |
0.000 |
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3] (Accumulated Losses) |
[854.868] |
[808.381] |
[415.500] |
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NETWORTH |
[450.399] |
[403.912] |
[351.600] |
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LOAN FUNDS |
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1] Secured Loans |
311.860 |
279.142 |
243.800 |
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2] Unsecured Loans |
133.791 |
122.427 |
117.700 |
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TOTAL BORROWING |
445.651 |
401.569 |
361.500 |
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TOTAL |
[4.748] |
[2.343] |
9.900 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.632 |
14.643 |
33.400 |
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Capital work-in-progress |
0.594 |
0.000 |
0.000 |
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INVESTMENT |
60.177 |
61.295 |
61.400 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
7.230
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0.000 |
0.000 |
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Sundry Debtors |
63.001
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54.770 |
49.100 |
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Cash & Bank Balances |
9.789
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4.507 |
3.200 |
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Other Current Assets |
9.319
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7.013 |
0.000 |
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Loans & Advances |
35.977
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37.290 |
90.700 |
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Total
Current Assets |
125.316
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103.580 |
143.000 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
179.426
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168.628 |
192.500 |
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Provisions |
20.041
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13.233 |
35.400 |
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Total
Current Liabilities |
199.467
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181.861 |
227.900 |
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Net Current Assets |
[74.151]
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[78.281] |
[84.900] |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
[4.748] |
[2.343] |
9.900 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
30.09.2004 [12 Months] |
30.09.2003 [12 Months] |
01.04.2000 to 30.09.2002 [18 Months] |
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Sales Turnover |
465.634 |
369.701 |
448.100 |
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Other Income |
21.127 |
19.905 |
44.700 |
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Total Income |
486.761 |
389.606 |
492.800 |
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Profit/(Loss) Before Tax |
[46.487] |
[652.303] |
[234.400] |
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Provision for Taxation |
-- |
-- |
-- |
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Profit/(Loss) After Tax |
[46.487] |
[652.303] |
[234.400] |
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Earnings in Foreign Currency : |
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Services |
288.211 |
177.602 |
NA |
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Total Earnings |
288.211 |
177.602 |
NA |
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Imports : |
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Capital Goods |
0.373 |
0.000 |
NA |
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Total Imports |
0.373 |
0.000 |
NA |
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Expenditures : |
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Cost of Materials for Sales and Services |
0.145 |
0.562 |
0.000 |
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Operating Expenses |
445.735 |
353.357 |
106.800 |
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Interest
& Financial Charges |
75.715 |
77.492 |
0.000 |
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Depreciation |
9.285 |
19.938 |
49.700 |
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Power
& Fuel Cost |
0.000 |
0.000 |
6.700 |
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Other
Manufacturing Expenses |
0.000 |
0.000 |
85.300 |
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Employee
Cost |
0.000 |
0.000 |
268.900 |
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Selling
and Administration Expenses |
0.000 |
0.000 |
184.300 |
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Miscellaneous
Expenses |
0.000 |
0.000 |
25.500 |
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Total Expenditure |
530.880 |
451.349 |
727.200 |
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KEY RATIOS
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PARTICULARS |
|
30.09.2004 [12 Months] |
30.09.2003 [12 Months] |
01.04.2000 to 30.09.2002 [18 Months] |
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PAT / Total Income |
(%) |
[9.55]
|
[160.49] |
[47.56] |
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Net Profit Margin (PBT/Sales) |
(%) |
[9.98]
|
[169.13] |
[52.30] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
[34.70]
|
[528.91] |
[132.87] |
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Return on Investment (ROI) (PBT/Networth) |
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[0.10]
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[1.61] |
[0.66] |
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Debt Equity Ratio (Total Liability/Networth) |
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[0.44]
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[0.45] |
[0.64] |
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Current Ratio (Current Asset/Current Liability) |
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0.62
|
0.56 |
0.62 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed Assets
Ø
Leasehold Improvements
Ø
Machinery
Ø
Data Processing Systems
Ø
Furniture and Fixture
Ø
Office Equipments
Ø
Electrical Equipments
Ø
Vehicles
Business and
Result of Operation
Despite odds, the company demonstrated its ability to grow, Revenues for
the year ended at 486.761 Millions representing a growth of 28 % over the
previous year. After adjustment of certain “Other Income” of the previous year,
the company has been able to improve its EBITDA from 5.93 % to 8.33 % during
year ended September 30, 2004.
Financial charges continue to impact the financial performance of the
company. The company hopes to address this issue and is close to completing its
plans for capital infusion.
Over the last couple of years, the company has been able to successfully
tap global markets and customers and has transitioned into an international
centric business by increasing the share of international business from 60 % to
71 % and has improved and predictability and sustainability of the business by
increasing the share of annuity business to 83 %.
During the period under review the company achieved the following
significant milestones
Ø
In a clear demonstration of its capabilities the company was selected to
manage the enterprises network of a fortune 10 company.
Ø
The company received the BS 15000 certification for Remote
Infrastructure Management Services
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Grew the consulting business by 156 % over the year
Ø
Grew the Technical support business by 63 % over the year.
Ø
Grew the Infrastructure management business by 19 % over the year.
Ø
Added 34 new customers across the globe.
Planetasia
The company continues to hold a valuable investment in its subsidiary
Planetasia [ http://www.planetasia.com
] that provides software solutions to enterprises customers in the areas of
enterprises middleware and internet technologies. Planetasia achieved near
break even in its operation for the year ended March 31, 2004
Capital
Restructuring
As a key step in the completion of the restructuring exercise the
company is finalizing capital infusion of upto US $ 7.3 million from overseas
investors as well as some of the institutional investors. The proceeds of the
issue will be used to reduce debt and to provide for Growth Capital.
AS PER WEBSITE
About
Microland
Microland
is India’s leading pure play IT Infrastructure Management Outsourcing Services
Provider. Microland employs 1600 qualified and experienced professionals with
over 10 years of experience in Infrastructure Management.
Microland’s
IT Infrastructure Management Services are based on ITIL standards and consist
of monitoring services, Help Desk services, server management, data center
management, storage management, email management, network management, asset
management, desk-side support, IT security services, vendor management and
application management. Microland’s Operations Management Center is ISO / IEC
20000-1 certified. Microland is a Gold Partner of Microsoft and a Microsoft
Center of Excellence for Infrastructure.
Microland is headquartered in Bangalore, India with offices
located at the USA, UK, Middle East and India.
Credentials
Pioneers in offering end-to-end process based
IT services
First IT company in India to obtain
multi-function, multi-location ISO 9001 certification
First IT company in India to achieve EFQM
MAIT Level 1 quality recognition
First to deliver Remote IT Infrastructure
Management Services from India
Early adopters of the ITIL (IT Infrastructure
Libraries) / ISO / IEC 20000-1 process framework
Heritage
In 16 years of its existence,
Microland has evolved and transitioned successfully to keep pace with changing
global needs.
Going
forward : Sustaining Value Delivery to their Clients
Key highlights: Focus on 2 key streams - IT
Infrastructure Management and Technical Support Services
2002
Onwards :
2 businesses on focus - IT Infrastructure
Management Services and IT Consulting
2 Companies in the portfolio - Microland
& Planetasia
Microland stands uniquely positioned to lead
in the emerging Technology Services Outsourcing paradigm with focus on systems,
security and networks
Microland forms strategic alliance with Symantec,
the world leader in Internet security for its security services
Microland becomes Microsoft Center of
Excellence
Microland forms strategic alliance with
Synnex to provide end to end IT Infrastructure Management Services to its
customers and resellers in the US
Microland signs landmark deal with Serco
Solutions for Infrastructure Management Services
Microland enters open source with Red Hat
relationship
The
Second Transition : From Incubator to Technology Services Company
Key Highlights: Internet market corrects
itself; Microland quickly takes a course correction; sells 3 businesses;
refocuses on core competencies
2001 :
Realizing that the Internet marketplace has
changed dramatically, Microland quickly takes a course correction, returning to
its core competencies
Microland's on-line ad sales business Media2india.net
merges with Mediaturf
Microland's Indya.com is acquired by News
Corporation in an all cash deal
Microland inaugurates its 225 seater Remote
Management Center
2002 :
Microland's Net Brahma Technologies acquired by
US based Metro-Optix
Microland repositions Planetasia as an
Internet Middle-ware applications provider
Focuses on the technology infrastructure
services business
Client footprint expanded to Asia Pacific,
Middle East, Africa & Europe
The
First Transition : Transitioning to the Internet Economy
Key highlights: Launches 4 new companies;
Microland Group completely focuses on Internet
1998 :
Microland takes a bold decision to divest its
hardware business completely
Company refocused to take advantage of the market
opportunities provided by the emerging Internet economy and shifts focus to the
international markets
Microland announces India Internet World -
India's largest Internet conference and exhibition in New Delhi with a tie up
with Mecklermedia Corporation
1999 :
Microland turns incubator for launching its
Internet & software technologies companies
Microland unveils technology portal -
ITspace.com
2000 :
Microland launches India's most ambitious
Internet portal, Indya.com with lead investment from Rupert Murdoch's News
Corporation
Planetasia.com becomes one of Asia's largest
Internet Professional Services Companies
Microland launches Net Brahma Technologies
for developing software for the next generation Internet infrastructure
Microland set to convert itself as a
Technology Holding Company
The
Early Years
Key highlights : Rapid growth; innovations
galore; several alliances; leadership in networking integration space
1989 : Microland incorporated to address the
computer networking opportunity
1992 -
1997 :
Microland launches global brands in India :
Compaq – September 1992
Synoptics & Cisco – November 1993
Netscape – December 1995
Microland's revenues cross the Rs 1 Billion
mark. Rated as one of the fastest growing IT companies in India with growth
rates exceeding 133%
Establishes strategic partnerships and
alliances with best of breed technology companies - ComputerLand,
Hewlett-Packard, Sun Microsystems, Microsoft, SynOptics Communications Inc,
Xircom Inc., Motorola and Newport Systems & Solutions Inc., AT&T, Lotus
& Intel
Connectivity India, Microland's annual
technology forum features speakers from Compaq, Novell and SC0
1996 :
Microland awarded ISO 9001 - the first Indian
IT company to receive a multi-site, multi-process ISO 9001 certification
'Dataquest' quotes Microland as a
"sizzler since inception" and includes it in its 'List of Hot
Companies'
1997 :
Bill Gates, Chairman & CEO, Microsoft
Corporation, addresses Microland's CEO Forum - "Enterprise Tomorrow,
Today"
Planetasia.com, India's first web Development
Company launched by Microland to offer comprehensive Internet business
solutions to Indian customers
Leadership Recognized by the Marketplace
"India's
#1 Company in Network Solutions, LAN Design,
LAN implementation and Support"
- IDC India
"India's
#1 Server Systems Integration Company"
- IDC India
"India's
Best Networking Company"
- IS
ComputerWorld
Client
Speak
The partnership with Microland will deliver tangible
benefits for their customers. It will help maintain and improve their
cost-effective, high quality services and equip us for future growth. They have
been impressed with Microland's technical capabilities and by their
responsiveness to their needs.
Ian
Downie,
Chief Executive
Serco Solutions
Microland has been professional, quality conscious and
consistent in their service delivery.
They understood their requirements, sought feedback from us and tailored their
service delivery methods to suit their business demands. They are proactive in
their approach and they would like to call them their partners rather than
vendors.
Prashanth
MJ
Vice President - Technology
ICICI OneSource Limited
Microland Team Profile
Microland has a seasoned management team with exceptional
experience in running a large and complex technology services business. A brief
introduction to the members of the team:
Corporate
Pradeep Kar
Founder, Chairman & Managing Director
Sharad Heda
Chief Operating Officer
K S Ganesan
CTO & Vice President, Engineering
Raja Gopalan S
Vice President, Finance
T R Srinivasan
Vice President, Global Service Delivery
Annie George
Vice President, Legal & Company Secretary
Suresh Iyer
Vice President, Marketing
Sowjanya Reddy
Vice President, Human Resources
Europe
K Srinivasan
Vice President, Sales - Europe
Neeraj Soni
Country Manager - UK
Americas
Ashutosh Mankar
Vice President, Strategic Accounts - US
Anurag Gupta
Vice President, Enterprise Sales - US
Asia
Rustom Hiramaneck
Vice President, Sales - India & Middle East
Kameswar N V
Vice President, Operations - India & Middle East
Microland’s customers include
Indian and Global organizations. A partial list of Microland’s customers
include the following
A Leading US based Manufacturer of Home
Networking Products
One of the Largest Banks in Saudi Arabia
A Leading US Automotive Company
US based Global Leader in Connectivity
Solutions
A Leading Provider of BPO Solutions based in
India
A Leading Financial Services Company in the
US
A US based Global Food Products Company
A Large Private Indian Bank
One of the World’s Largest Software Companies
A Large Government owned Bank in Saudi Arabia
One of the World’s Largest Enterprise Software
Solutions Company
A Leading Global Consumer Products Company
A Leading UK based IT Services Provider
One of the Global Leaders offering Semiconductor
Solutions
One of the Largest Retail Chains in Europe
One of the Leading Outsourcing &
Technology Solutions Company in UK
Investors
Microland has attracted the attention of several marquee
investors over the years. Listed below are the investors whose faith in our
vision has only grown with time.
Cargill Ventures is the venture capital arm of Cargill,
Incorporated, a privately held company with operations in 63 countries and
revenues of over $71 billion. Cargill Ventures invests in high-growth
technology-based companies.
ICICI
Venture, incorporated in 1988, is India's largest private equity and venture
fund management company. It is a subsidiary of ICICI Bank (one of India's
leading private sector banks). ICICI venture has aggregate funds currently
under management in excess of Rs.20 billion (USD 400 million) and has over 25
qualified professionals managing the business.
Intel Capital, Intel's venture capital organization, makes
equity investments in innovative technology start-ups and companies worldwide.
Intel Capital invests in a broad range of companies offering hardware, software
and services targeting enterprise home, mobility, health, consumer Internet and
semiconductor manufacturing. Since 1991, Intel Capital has invested more than
US$4 billion in more than 1,000 companies spanning more than 30 countries.
During this time, about 160 portfolio companies have been acquired and another
150 have gone public on exchanges around the world. In 2005, Intel Capital
invested about US$265 million in about 140 deals with approximately 60 percent
of funds invested outside the United States. For more information on Intel Capital
and its differentiated advantages, visit www.intelcapital.com
JAFCO Investment (Asia Pacific) Limited
JAFCO Investment (Asia Pacific) Limited is a venture capital
firm that invests in emerging technology-based companies. They look for and
invest in companies that demonstrate true “breakout” potential with
differentiated technology and compelling business models.
JP
Morgan Partners (JPMP), formerly Chase Capital Partners, is a global
partnership with over $23 billion under management. It is a leading provider of
private equity and has closed over 1,000 individual transactions since its
inception in 1984. JPMP has more than 140 investment professionals in eight
offices throughout the world including New York, San Francisco, Sao Paolo,
London, Hong Kong and most recently Tokyo, Munich and Buenos Aires. JP Morgan
Partners' primary limited partner is JP Morgan Chase & Co., a leading
global financial services firm with assets of $755 billion and operations in 50
countries.
Synnex Corporation (NYSE: SNX) is a US-based, global IT
supply chain services company offering a comprehensive range of services to
original equipment manufacturers, software publishers and reseller customers
worldwide. Synnex offers product distribution, related logistics services and
contract assembly and works with the leading industry suppliers of IT systems,
peripherals, system components, software and networking equipment.
Trident Capital is a leading venture capital and private
equity firm with over $1.5 billion of capital under management, including $400
million raised in our recently closed Fund VI. Trident's core investment focus
has remained consistent since inception in 1993. Trident focuses on investments
in the business services, information services and software sectors across a
variety of industries. Within its sector focus, Trident invests across multiple
stages, including traditional venture capital investing as well as investments
in micro-cap public companies, buyouts and consolidation platforms. The firm
has made over 120 investments since inception. Trident has investment offices
in Palo Alto, Calif. and Westport, Conn. For more information, visit the firm¹s
web site at www.tridentcap.com.
Services
Microland is a leading pure play IT Infrastructure
Management Outsourcing Services Provider. Our service portfolio includes the
following:
IT Infrastructure Management Outsourcing Services
Services take a collaborative approach to
help:
Reduce the IT operating costs
Improve service levels
Maximize the Return on Investment (RoI)
Free up the IT staff from mundane and routine
tasks to focus on more critical areas
Improve business agility
Standardize IT operations and service
management processes
Secure the Enterprise
Align IT with business goals
Increase uptime
They deliver highest quality of customized service by
leveraging:
16 years of experience in the IT infrastructure Management
space
Proven process and quality methodologies such as ITIL &
Six Sigma
Talent pool of technology and process consultants
BS 15000 certified shared services operations management
center
Simulation labs for product/technology training
Specialist training and retraining in line with technology
advance and accent
Standardized and world-class tools and technology framework
Value
to Microland Alliance Partners
Over 15 years of experience in
managing customer IT infrastructure and providing technical support
24x7 remote and onsite services
BS 15000 certified shared
services facility
ITIL and Six Sigma best
practices
Value
to Customers
Industry accreditations and
certified implementation capabilities
Skilled and certified pool of
over 1600 plus professionals.
End-to-end delivery capability
Training and knowledge on
industry-leading technologies
Microland
charts out Key Growth Initiatives
Announces new Facility, adding an operational seating capacity of 2000
Inaugurates first of its kind Multi Remote Infrastructure Management Centers,
& State-of-the-art Technology Labs
March 21, 2007
Bangalore
Microland
Limited, India’s leading provider of Remote Infrastructure Management Services
(RIMS) today rolled out significant growth initiatives for the company to tap
the high potential of the fast growing RIMS segment.
RIMS –
a high potential segment that needs specialist skills - is considered the next
wave of growth for the Indian IT industry. Infrastructure Management Services
is an untapped market opportunity of USD 110 billion that provides significant
growth prospects for Indian IT services companies. Industry estimates that IT services
exports from the remote infrastructure outsourcing model market in India will
grow to US$ 7 billion by 2010. (Source Nasscom)
"We
believe that remote infrastructure management is a strongly emerging IT
services category that will accelerate as companies recognize the tremendous
benefits and ROI that is attainable” said Pradeep Kar, Chairman &
Managing Director of Microland.
Commenting
on the milestone, Pradeep said, “Microland pioneered Remote Infrastructure
Management in India when we set up our first Global Operations Center in 1999.
We are experiencing significant growth momentum and to tap the high potential
segment, we are inaugurating one of India’s first Multi Network Operations
Center Facilities. Spread across 72,000 square feet, the facility will house 6
Network Operation Centers, 6 Technology Labs, 1 Penetration Testing Center and
4 Data Centers amongst other facilities".
“We
believe that the investments we are making will enable us to provide seamless
services to our global customers build capacity and capability for the company
and differentiate us in the marketplace. This is a significant milestone for
Microland towards establishing leadership as an Infrastructure Management
Services Specialist” said Sharad Heda, Chief Operating Officer, Microland
Microland
inaugurates first of its kind Multi Network Operations Center Facility &
Technology Labs to simulate multiple RIMS scenarios.
The
key highlights of Microland’s new facility include: six NOCs, six Technology
Labs, four Data Centers and a Security Penetration Testing Center.
The
six NOCs will allow for expansion and will be utilized to transition remote
operations of customers. To ensure 100% uptime, four levels of power redundancy
have been installed and the state-of-the-art Biometric Security for Data
Centers and NOCs will ensure that customer data and operational integrity is at
the highest levels.
“Our
Technology Infrastructure Lab’s (which would be globally accessible over the
internet) are the first of its kind in India involving simulating Data Center,
Network, Security Technologies, Multiple Client Environments in the areas of
Microsoft.net Platform, Virtualization Technologies, Mid-range Unix Systems,
High-end Unix Systems, Storage Area Networks, Cisco Networking Technologies and
various Security Technologies including Intrusion Prevention Systems(IPS),
Firewalls, Threat Management Appliance, Citrix Farms, Web Application
Platforms, Management Tools and a secure Microland Web Application Penetration
Testing Center” said K S Ganesan, Vice President & CTO, Microland.
The
Labs with remote access are designed with full capability for Virtualization –
this will allow us to run multiple lab scenarios simultaneously and have
e-learning modules with over 2000 Lab Learning Sessions. This Facility is on a
Fiber Backbone, connected to our Electronics City Facility on two 10MB Metro
Ethernet links with the voice infrastructure being VOIP based
“Over
the years, Microland has honed its RIMS services to suit the specific needs of
a variety of customers – to effectively handle the scale and complexity of the
IT infrastructure of Fortune 500 customers”, said Pradeep Kar
elaborating on the solution portfolio.
Microland’s
marquee clientele & Industry Recognition,
"The
partnership with Microland will deliver tangible benefits for our customers. It
will help maintain and improve our cost-effective, high quality services and
equip us for future growth. We have been impressed with Microland's technical
capabilities and by their responsiveness to our needs", said Ian Downie,
Chief Executive, Serco Solutions – one the worlds leading service companies
“Microland
showed us a 14 page job description for a staff position, with details about
the technical capabilities required. The attention to detail, technical and management
skills, and professionalism demonstrated…- and their talk of 30% savings-- had
a calming effect on my IT colleague ” Ron Anderson, Computer World
Microland,
the IMS Specialist has been named one of the Top 10 Best Performing
Infrastructure Services Providers, by 2007 Global Services 100. (A compilation
of the world’s most innovative service providers, expediting the vendor
selection process for corporate decision makers).
About
Microland Limited
Microland
is India’s leading IT Infrastructure Management Services Company. We help
clients reduce their cost of managing their IT Infrastructure while improving
Service Levels by applying our deep knowledge, rich experience and process
discipline.
Microland’s
Infrastructure Management Services encompass all the services that relate to
monitoring, managing and enhancing the performance of their 60+ global client’s
IT Infrastructure. These include Data Center Management, E-mail Management,
Help Desk Services, Network Management, Security Management and Desktop
Management. Microland’s Operation Management Centers are ISO 20000-1 &
27001 as well as BS15000 & BS 7799 Certified. Microland is a Gold Partner
of Microsoft and a Microsoft Center of Excellence for Infrastructure.
Headquartered in Bangalore, India
with 1800+ professionals with presence in the USA, UK, Middle East and India,
Microland provides a proven and reliable alternative to global customers in
managing their enterprise IT infrastructure. For more information on Microland
Limited, please visit www.microland.com
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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 records 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.90 |
|
UK Pound |
1 |
Rs.84.96 |
|
Euro |
1 |
Rs.57.21 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
- |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
- |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
TOTAL |
|
12 |
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
|
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|