MIRA
INFORM REPORT
|
Report Date : |
18.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
FALCON FREIGHT INC |
|
|
|
|
Registered Office : |
219-B, Administrative Building, ICD Tughlakabad, New Delhi-110044 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELF02936D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABFF3496J |
|
|
Partnership Concern with an Unlimited Liability of the Partners. |
|
Legal Form : |
|
|
|
|
|
Line of Business : |
International Freight Forwarding,
Consolidation and Customs Clearance Company (In all types of transportation). |
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 |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
219-B, Administrative Building, ICD Tughlakabad, New Delhi-110044,
India |
|
Tel. No.: |
91-11-26360046/ 47/ 48/ 49/ 41329420/ 21/ 26360045 |
|
Mobile No.: |
91-9810833314/ 9911390670 |
|
Fax No.: |
91-11-26360048/ 41315294 |
|
E-Mail : |
ramram@falconfreight.com,
rishi@falconfreight.com, harish@falconfreight.com |
|
Website : |
|
|
Area : |
400 Sq.ft. (Rented) |
|
|
|
|
Corporate Office : |
E-165, Basement Kalka Ji, New Delhi-110019, India |
|
Tel. No.: |
91-11-41319918 |
|
Fax No.: |
91-11-41315294 |
|
Area : |
425 Sq.ft. (Rented) |
|
|
|
|
Branches : |
Room No.100, Bindra Complex, C-145-A, Phase V, Focal Point, Dry Port,
Phase V, Ludhiana, India |
|
Tel. No.: |
91-161-4622368 |
|
Fax No.: |
91-161-5049440 |
|
Area : |
300 Sq.ft. (Rented) |
PARTNERS
|
Name : |
Mrs. Amita Anand |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Vikas Gupta |
|
Designation : |
Partner |
|
Date of Birth/Age : |
42 years |
|
Qualification : |
Graduate |
|
Experience : |
20 years |
BUSINESS DETAILS
|
Line of Business : |
International Freight Forwarding,
Consolidation and Customs Clearance Company (In all types of transportation). |
|
|
|
|
Terms : |
|
|
Selling : |
Local Sales : Fee get after the work (30 days credit) |
|
|
|
|
Purchasing : |
L/C, D/A and D/P, Advance Payment |
GENERAL
INFORMATION
|
No. of Employees : |
10 |
|
|
|
|
Bankers : |
v HDFC Bank
Limited, Okhla Industrial Area, New Delhi-110020 v HDFC Bank
Limited, Greater Kailash, New Delhi-110048 |
|
|
|
|
Banking Relations
: |
Satisfactory |
|
|
|
|
Associates/Subsidiaries : |
Falcon India (Established in 1987) Activities : International
Freight Forwarding, Consolidation and Customs Clearance Company (In all types
of transportation). Sales Turnover : Rs.80 millions Employees : 60 |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.2.500 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
20.000 |
12.500 |
|
|
|
|
|
|
Profit/Loss for the year |
|
11% |
-- |
|
|
|
|
|
|
Export Value |
|
7% |
-- |
Expected Sales (2007-08) : Rs.30.000 millions
Next year Target of Sales for Group :
Rs.120.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Activities :
International Freight Forwarding,
Consolidation and Customs Clearance Company (In all types of transportation).
Freight forwarding
v Consolidation services
v Negotiation of ocean/ air freight and inland haulage charges
v Packing, Palletizing and marking of cargo for shipment
v Insurance at lower rates
v Economical and efficient handling
v Transportation and warehousing
Customs clearance
v Import clearance
v Customs documentation/ allied agencies documentation
v Project registration
v Economical and efficient handling
v Transportation and site delivery
Other services
v On line container movement status
v Customs classifications
v Import/ Export policy
v Duty structure and valuation aspect of different commodities/ items
v Licensing
v Export/import facilities
v Customs registration
v Exim documentation advice
Website Details :
Subject was established in 1989. Today this company is
operating integrated shipping related services ranging from Custom Clearing
Services, International Freight Forwarding Company, Air Freight Forwarding
Services, Transportation Services, Warehousing Services, International Trade
Consultants, Liaison Services, International Freight Forwarding, Freight
Forwarding Company, Indenting Agents, Freight Forwarding Agents, Transport
Freight Forwarding, Logistics, Shipping, sea, air freight forwarding and
customs brokerage. The company offers custom clearance services and is among
leading custom clearance agents from India. The dedicated work force of this
company ensures to give trustworthy service to the clients.
Their Main Activities :
They offer freight forwarding services
by road, air and sea. Their special services include :
v Licensed
Customs Brokerage
v International
Freight Forwarding
v World
- wide Container Services (FCL and LCL)
v Indenting
v Bonded
Warehousing
v Exim
Trade Consultants
v Transport
Services
v Transport
Insurance
v Project
Logistics
v Storage,
Cargo Handling, Packing, Distribution
Infrastructure
:
Subject as custom clearance agents is marked by dedicated and professional
employees. The well experienced and professionally qualified work force takes
complete care of each organizational activity here. The office is also well equipped
with latest communication equipment. The company also has a huge warehouse for
meeting the requirements of storing and transporting the goods as per demand.
Teams are also set up at different levels to meet the requirements of the
customers conveniently at various stages.
Quality
of Services
Depending on the interest and requirement, timely service is
offered to their valued customers. Quality service is the first priority of
their company. To fulfill the customer’s satisfaction, consignments are packed
and dispatched with due protection to the mentioned destination. Complete
secrecy is also maintained while communicating with the clients. They also keep
in mind that the containers in which goods are moved are of international
quality standards.
Their
Clients
They are known for providing hassle free services. In the
last 20 years, their sincerity and the high quality of service have made them
one of the best organizations as customs brokerage agents in this industry. The
international standard services of the company have also been widely accepted
by the clients worldwide.
Their
Services :
NRI
Services
They are international freight forwarding agents offering
NRI clients to explore business opportunities in export and import in India.
Custom
Clearing
Ocean
Freight Forwarding
They offer an international freight forwarding by sea and
ensure a secure delivery of shipments.
Air
Freight Forwarding
With a huge network, they offer efficient international air
freight forwarding throughout the world.
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.41.99 |
|
UK Pound |
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.57.22 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|