MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
TRANS ASIAN SHIPPING SERVICES PRIVATE LIMITED |
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Registered Office : |
XIV/396, Trans Asia Corporate Park, Sea Port Airport Road, Chittethukara, Kakkanad Kochi -682037, Kerala |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
20.11.1992 |
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Com. Reg. No.: |
006824 |
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CIN No.: [Company
Identification No.] |
U63090KL1992PTC006824 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHNT00281B |
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Legal Form : |
Subject is a Private Limited Liability Company. |
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Line of Business : |
Ship Owners of Indian Flag Vessel M. V. Kripa and Operating Indian Shipping Line in the name and style of “Trans Asia Line” |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1260000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed Ship Owners and Operators. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are reported as fair. Business is active. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
XIV/396, Trans Asia Corporate Park, Sea Port Airport Road, Chittethukara, Kakkanad Kochi -682037, Kerala |
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Corporate Office : |
v 39/214 ABC, Suryodaya Building, Mullassery Canal Road, Cochin – 682 011 Kerala, India |
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Tel. No.: |
91-484-2353083/2350965 |
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Fax No.: |
91-484-2380040 |
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E-Mail : |
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Website : |
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Overseas Offices : |
v Dasa Dubai LLC, P O Box 60883, Suite 208, Golf Park building, Garhoud, UAE Tel.No: 9714-2826999 Contact Persona: Mr. Prakash Nair v Delta Shipping Company LLC, P.O.Box 296, Jibroo, Postal Code 114, Oman Tel.No: 00-968-795804/797012 Contact Person: Mr. Suresh Kumar (General Manager) v Al-Rashed International Shipping Company. WWL, AL Rashed Complex, 9th Floor, Fahad Al Salem Street, P. O. Box 2024, 1 Safat 13063, Kuwait Tel.No: 965-2436550/2436555 Contact Person: Mr. Ravi Varrier (General Manager) v FSL Logistics (M) SDN BHD, No. 12-10 Crystal Crown Annexe, No. 217 Persiaran Raja Muda Musa, 42,000, Port, Kelang, Selangor, Darul Ehsan, Malaysia Tel.No: 603-31668122 v Norgistics (China) Limited, Shanghai Representative Office, 8/F Haitong Securities Tower No. 689, Guangdong Road, Shanghai, China Tel.No: 86-21-63410303 v Neon Maritime Private Limited, 260, Ground Floor, Dart Express Building, Sir Ramanathan Mawatha, Colombo 15, Srilanka Tel.No: 94-11-2386689-92 Contact Person: Mr. Chadana Gamage v Seas Ark S. A., 2nd Floor, No. 116, West Houveizeh Street, North Sohrevadi Ave, Tehran – 15536, Iran Tel.No: 98-218-736440 Contact Person: Mr. Mansoor Askari v Globe Marine Services Company, Globe Building, Corniche Road, ZIP: 31441, P O Box: 1814, Dammam, Saudi Arabia Tel.No: 966-3-835-2222 Contact Person: Mr. Narayan Karipodi v FS Logistics Private Limited, 90 CECIL Street No. 14-00, Singapore – 069531 Tel.No: 65-68808268 Contact Person: Mr. Jaya Prakash Contact No: 65-68808248 |
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Group Company : |
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Branches : |
v 21, EVS Towers, Dr. RadhaKrishnan Salai, Chennai – 600 004, Tamilnadu, India Tel.No: 91-44-42088318 / 42088361/ 62/ 63/ 64 Fax No: 91-44-42088366 Contact Person: Mr. Achantha Sivakumar Mobile No: 91-9841009693 v BBTC Building, Ground Floor, Subramannium Road, Cochin – 682003, Kerala, India Tel.No: 91-484-2669088/2668745 Fax No: 91-484-2668745 Contact Person: Mr. Peter Fernandez Mobile No. 91-484-3292839 v 809, Krishna Building, 224, AJC Bose Road, Kolkatta – 700 017, West Bengal, India Tel.No: 91-33-22834667/4669 Fax No: 91-33-22834668 Contact Person: Mr. Sudip Dutta Mobile No: 91-33-22834667 v 608, 6th Floor, Dalamal Towers, Nariman Point, Mumbai – 400 021, Maharashtra, India Tel.No: 22886847/6861/6869/34254785 Fax No: 22880078 Contact Person: Mr. Mathew P. X. Mobile No: 9821031827 v No. 4 & 5, II Floor, Neelam Complex, Plot No. 298, Ward 12-B, Gandhidham – 370201, Gujarat, India Tel.No.: 91-2836-225410/225433 Fax No: 91-2836-225395 Mobile No: 9825326220 v Ebenezer Mansion, 97H/26/6 Palayamkottai Road, Tuticorin – 628 008 Tel.No: 91-461-2392917/2392937/2392604 Fax No: 91-461-2392906 Contact Person: Mr.V. Laxman |
DIRECTORS
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Name : |
Mr. Johnson Mathew K. |
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Designation : |
Director |
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Address : |
Kodinjoor, XI 50C, Padamugal, Kakkanad, Cochin – 682030, Kerala |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Graduate |
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Experience : |
30 years |
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Name : |
Mr. Marylyin Johnson |
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Designation : |
Director |
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Address : |
Kodinjoor, XI 50C, Padamugal, Kakkanad, Cochin – 682030, Kerala |
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Date of Birth/Age : |
45 years |
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Qualification : |
Post Graduate |
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Experience : |
10 years |
MAJOR SHAREHOLDERS
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Names of Shareholders |
No. of Shares |
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Mr. Johnson Mathew Kodinjoor |
83,000 |
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Mr. Marylyin Johnson |
5,000 |
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Ms. Suma
Jonson Kodinjoor |
1000 |
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Mr. Kevin Jonson Kodinjoor |
1000 |
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Equity share breakup (percentage of total equity )
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Category |
Percentage |
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1. Directors or Relatives of Director |
100 % |
BUSINESS DETAILS
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Line of Business : |
Ship Owners of Indian Flag Vessel M. V. Kripa and Operating Indian Shipping Line in the name and style of “Trans Asia Line” |
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Terms : |
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Selling : |
It sells against 75% Cash or Credit (15 days) terms |
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Purchasing : |
It purchases against Credit (30 days) terms. |
GENERAL
INFORMATION
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No. of Employees : |
Around 301 |
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Bankers : |
v UTI Bank Limited, Chicago Plaza, Rajaji Road, Ernakulam, Kerala Tel.No: 91-484-2384274/72 v Centurion Bank Limited, 5th Cross Road, Cochin – 682 003 Tel.No: 91-484-2668462/63 v Indian Overseas Bank, M.G.Road, Ernakulam, Kerala Tel.No: 91-484-2380078 |
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Facilities : |
---- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
v J. Issac and Company Chartered Accountants |
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Address : |
G-121, Kadvail Building, Main Avenue, Panmpilly Nagar, Cochin, Kerala |
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Tel. No.: |
Tel.No: 91-484-2321919 |
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E-Mail : |
Email: jojy@vsnl.com |
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Associates : |
v Nortrans Marine Services Private Limited ABC, Mullassery Canal Road, Cochin – 682 011 Kerala |
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Line of Business : |
Steamer Agents of Norasia Lines and CSAV |
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Subsidiary : |
Great Circle Maritime Private Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Share |
RS.10/- |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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90000 |
Equity Share |
RS.10/- |
Rs.0.900 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.900 |
0.900 |
0.900 |
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2] Share Application Money |
316.324 |
103.704 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
25.681 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
317.224 |
104.604 |
26.581 |
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LOAN FUNDS |
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1] Secured Loans |
40.716 |
32.279 |
45.488 |
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2] Unsecured Loans |
45.909 |
163.716 |
20.949 |
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TOTAL BORROWING |
86.625 |
195.995 |
66.437 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
4.526 |
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TOTAL |
403.849 |
300.599 |
97.544 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
132.980 |
76.127 |
82.291 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
445.769 |
530.694 |
0.526 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.476
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2.432 |
4.180 |
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Sundry Debtors |
58.303
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17.825 |
19.616 |
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Cash & Bank Balances |
64.230
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240.384 |
11.109 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
39.958
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0.000 |
5.172 |
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Total
Current Assets |
163.967
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260.641 |
40.077 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
68.213
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551.410 |
19.189 |
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Provisions |
270.654
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15.453 |
6.161 |
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Total
Current Liabilities |
338.867
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566.863 |
25.350 |
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Net Current Assets |
-174.900
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-306.222 |
14.727 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
403.849 |
300.599 |
97.544 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2004 |
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Sales Turnover |
35.715 |
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Other Income |
0.000 |
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Total Income |
35.715 |
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Profit/(Loss) Before Tax |
8.169 |
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Provision for Taxation |
1.725 |
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Profit/(Loss) After Tax |
6.444 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
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Manufacturing Expenses |
0.000 |
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Administrative Expenses |
0.000 |
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Raw Material Consumed |
0.000 |
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Purchases made for re-sale |
0.000 |
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Consumption of stores and spares parts |
0.000 |
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Personnel Expenses |
0.182 |
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Administrative Expenses |
1.383 |
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Direct
Expenses – Liner Activities
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0.000 |
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Direct
Expenses – Container Ship
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21.664 |
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Direct
Expenses – Other Activities
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0.340 |
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Financial
Charges
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0.700 |
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Depreciation
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3.275 |
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Other Expenditure |
0.000 |
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Total Expenditure |
27.544 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
--
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-- |
18.04 |
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Net Profit Margin (PBT/Sales) |
(%) |
--
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22.87 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
--
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-- |
6.67 |
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Return on Investment (ROI) (PBT/Networth) |
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--
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-- |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.34
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7.29 |
3.45 |
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Current Ratio (Current Asset/Current Liability) |
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0.48
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0.45 |
1.58 |
LOCAL AGENCY
FURTHER INFORMATION
History
Subject is engaged in the business as Ship Owners of Indian Flag Vessel M. V. Kripa and Operating Indian Shipping Line in the name and style of “Trans Asia Line”.
It is in trade terms
with:
v UTI Bank, Cochin, Kerala
Contact Person: Mr. Krishna Kumar, Chief Manager,
Tel.No: 91-484-2384271/72
v Services Integrated, Cochin – 682003, Kerala
Contact Person: Mr. Satisha Baboo
Tel.No: 91-484-2666153
v Centurion Bank, Cochin – 682003, Kerala
Contact Person: Mr. K. Suresh, Branch Manager
Tel.No: 91-484-2668462/63
v Joji Issac FCA, Chartered Accountant, Cochin, Kerala
Tel.No: 91-484-2321919
profile
Subject is privately owned Shipping Company, registered under Indian Companies Act in India. It is the flag ship Company of TRANS ASIA GROUP.
Agency:
Company acted as agents of Norasia Lines (Malta Limited; Sliema, Malta from April 1993 till the business was handed over to Nortrans Marine Services Private Limited, India a group company in 1998.
Appointed as all India agents of Container Application International, USA, a leading Marine Container Leasing Company since 1999.
All India agents of Rivacold SRL, Italy in supply of refrigeration equipments.
Represented various Owners as tramp agents, Owners agents and Husbanding agents in all ports in India.
Ship Owning:
The Company acquired a 576 teus RO-RO boxer class Container ship, renamed as M.V.Kripa registered and flagged in India. They are actively pursuing purchase of additional sea going ships to their fleet.
Multi Modal Transport Operator: obtained India Government Multi-Modal Transport Operator and License and commenced operation in year 2000.
Coastal Container Movements: Commenced Coastal operations since 2002.
Plantation: Diversified into Plantation activities in 1999.
Liner Operations: Commenced Liner operations from Far East, South East Asia, South Asia to Middle East Gulf and Iran in 2003.
Management: The Company is managed by a team of professional including Management Graduates, Mater Mariners, Marine Engineers, Chartered Accountants with vast and diversified levels of expertise.
future outlook
Keeping to the commitment and vision of the group, large investments in terms of purchase of sea going vessels and marine hardware coupled with state of art computing capabilities are being continuously and rigorously pursued.
It operates from caption rented office premises of area admeasuring around 4,800 sq.ft.
New corporate office is owned which is located at Cochin, Kerala whose building work has started.
It employs about 301 persons in its set up comprising of 48 persons in office and 253 persons in branch.
Form 8
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Name of the company |
Trans Asian
Shipping Services Private Limited |
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Presented By |
For Trans Asian
Shipping Srvices Private Limited Marylin Johnson,
Director |
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1) Date and description of instrument creating the change |
16.08.2005 1. Terms Loan
Agreement 2. Deed of
Hypothecation of Machinery and other Movable Fixed |
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2) Amount secured by the charge/amount owing on the securities of charge |
Foreign Currency
Term Loan : USD 533,400/- (United States Dollars Five ) |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecated to the
Bank, all the containers to be purchased out of the Bank Finance and proposed
to be used for transporting goods by container ships which will be in
transit, lying in ports and / or container terminals or elsewhere and
extension of hypothecation of all containers purchased out of Bank finance
and hypothecated to the Bank vide agreement dated 31.01.2004 as continuing
security. SCHEDULE HEREIN
ABOVE REFFERED TO Description of
the specified movable assets 1) All the dry containers (20) to be purchased
out of Bank finance and proposed to be used for transporting goods by
container ships which will be in transit, lying in ports and /or container
terminals or elsewhere. 2) Extension of
hypothecation of 200 Nos. of dry containers (20) already charged to UTI Bank
vide hupothecation agreement dated 30.01.2004 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
i) Repayment :
Repayment in 60 Monthly installment of USD 8890.00, the first installment
falling due on 16.09.2005 ii) Interest at
250 basis points above LIBOR calculated and payable at half-yearly rests, or
such other rests and rate as may be stipulated by the Bank in its absolute
discretion from time to time with interest rate refixed at 6 monthly
intervals and advised to the Borrower. The Borrower shall pay the interest
aforesaid at the end of every quarter or any other period as advised by the
Bank from time to time, for which it is due and payable, until the loan is
repaid. iii) Margin : 20% |
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5) Name and Address and description of the person entitled to the charge. |
UTI Bank Limited 41 / 419, Ground
Floor, Chicago Plaza, Rajaji Road, Ernakulam, Kochi - 682035 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
Form 8
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Corporate identity
number (CIN) Foreign company registration number |
U63090KL1992PTC006824 |
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Name of the
Company |
Trans Asian
Shipping Services Private Limited |
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Address |
XIV/396, Trans Asia Corporate Park, Sea Port Airport Road, Chittethukara, Kakkanad Kochi -682037, Kerala |
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This form is for |
Creation of
Charge |
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Type of Charge |
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Particulars of
the charge holder |
Name : UTI Bank
Limited Address : Ground Floor,
Chicago Plaza, Rajaji Road, Ernakulam- 682035 Kerala Email ID :
kocji.operations@utibank.co.in |
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Description of the Instrument Creating
Chagre |
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Amount secured by
the charge |
Rs.40.176
Millions |
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Brief of the
principal terms and conditions |
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Description of the
property charged indicating |
a)
c)Particular of
the property Charged 1) Hypothecated
all the containers to be purchased out of Bank finance which will be in
transit, lying in ports and / or container terminals or elsewhere and
extension of hypothecation of all containers hypothecated to the Bank vide
agreement dtd. 31.01.2004 & 16.08.2005 2) Extented EM by
redeposit of title deeds relating to the 1250 Sqft of office space at unit 1B, 5th
floor, Solitaire Corporate Park, Andheri Kurla Road, Andheri East Mumbai in
CTS Nos. 131 A, 131, 131/1 to 16,420,422,434 &435 |
Web Details Attached :
Trans Asia Group
of Companies engaged in diverse activities in the global business spectrum with
an aim to develop and execute high value service to its customers, employees
and society.
Head Quartered in
Cochin, India , the group commenced its operation in 1992 with its flag ship
Company, The Company, marking its presence in the international container
shipping scenario.
The group
companies were the agents of M/s. Norasia Line in India since 1993 till
2005, who then moved to establish their own network. In the year
2003 the group had established liner operation under the brand “Trans Asia Line”
which has since become one of the major NVOCC container operators in the India
Sub Continent, Middle East and South East Asian sectors.
It’s first vessel M.V. Kripa, a 550 teu RO-RO
boxer class is one of it’s pride possessions and the group intends to increase
its fleet in the near future.
As a part of
diversification the group has ventured into the field of plantations in
1998,acquiring multiple crop plantations at Wyanad District, Kerala, India
Exploring
Kerala’s potential as growing IT and ITES destination in India, the group’s
first venture in infrastructure “The Trans Asia Corporate Park” , an
architectural marvel was set up in the heart of Kerala’s IT Hub –
Kakkanad.
Exploring new horizons the
group is actively focusing on Third Party Logistics.
Activities :
Agency :-
Acted as Agents of M/s. Norasia Lines (Malta) Ltd., Sliema, Malta from April
1993 till the business was transferred to M/s.Nortrans Marine Services (p)
Ltd., India a group Company in 1998.
Agents for M/s. Container Application Intetrnational , USA a
leading Marine Container Leasing Company since 1999.
Representing tramp agents & husbanding agents at all ports in Indi
Ship Owning :- Acquired
a 550 tues RO-RO boxer class Container ship, named M.V.KRIPA registered and
flagged in India.
Commencing building of a 2,600 Dwt MPP(multipurpose vessel)
to be launched in Oct.
Pursuing building of a 1000 teu Container Vessel with
delivery 2008
Multi-Modal Transport Operator :-
Licenced Multi-Modal Transport
Operator since year 2000.
Coastal Container Movements :- Involved in Coastal container operations since 2002.
Plantation :- Diversified into Plantation activities in 1999
Liner Operations
:- Commenced full liner operations under brand name TRANS
ASIA since 2003 and provided services from/to Far and South East Asia, Indian
Sub Continent and Middle East Gulf.
Management :- The Company is managed by a dedicated work force of
professionals, which include Management Graduates, Master Mariners, Marine
Engineers, Chartered Accountants with expertise in their respective fields of
activities .
Into Future :
Committed to the mission of being a professionally managed
logistics service provider, The Company is
pursuing investments in terms of purchase of sea going vessels and
marine hardware supported by state of art IT capabilities with own reserves and
market borrowings.
The company is consistently bringing
in new talents, investments and innovative ideas to realize our vision of
becoming "One stop shipping solution provider".
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.40.97 |
|
UK Pound |
1 |
Rs.82.18 |
|
Euro |
1 |
Rs.56.91 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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 |
|