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MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
CARGO WORLD (EXIM SERVICES) |
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Registered Office : |
L-44A/ 352, Opp. KPS Convent School, Mahipalpur Extn., New Delhi – 110
037 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2006 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC06002D |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Provides Logistic Services |
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 8000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern in its field. It’s payments are usually correct
and as per commitments. Nothing adverse reported. It can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
L-44A/ 352, Opp. KPS Convent School, Mahipalpur Extn., New Delhi – 110
037 |
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Tel. No.: |
91-11-26783893/ 95 |
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Mobile No.: |
91-9871091236 |
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Fax No.: |
91-11-26782284 |
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E-Mail : |
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Website : |
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Area : |
350 sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. J S Negi |
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Designation : |
Proprietor |
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Date of Birth/Age : |
36 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Provides Logistic Services |
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Products : |
v Freight
Forwarding v Transportation v Delivery v Customs
Documentation v Custom Clearance v Cargo Handling v Air Cargo Agent v Custom Broker v Import Clearance v Custom House
Agent |
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Exports : |
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Countries : |
All Over the world |
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Imports : |
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Countries : |
From all over the world |
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Terms : |
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Selling : |
Cash or Credit |
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Purchasing : |
Cash or Credit |
GENERAL
INFORMATION
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Customers : |
v Tata Mcgraw-Hill Pub. Company Limited, New Delhi v Honda Siel Power Products, Noida v Roulunds Braking (India) Private Limited, Sonepat v Oberoi Flight Services, Delhi v Alcatel India Limited, Udyog Vihar, Gurgaon v Padma Jewels, New Delhi v Benny Impex Private Limited, New Delhi v Mother Dairy, Delhi v Jayti Tools. |
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No. of Employees : |
7 |
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Bankers : |
v IDBI Bank Limited,
Mahipalpur, New Delhi – 110 037, India v HDFC Bank
Limited, Vasant Kunj, New Delhi, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Cargo World L-44A/ 352, Opp. KPS Convent School, Mahipalpur Extn., New Delhi – 110
037 Started in : 1998 STO : 5.000 Millions Partnership Company |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 Millions |
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Borrowed : |
- |
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Total : |
Rs. 2.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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15.000 |
12.000 |
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Profit/Loss for the year |
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14% |
14% |
Expected Sales (2007-08) : Rs. 25.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Website Details
Attached:
World class cargo services at the most competitive rates...
About Them
At Subject they provide a complete one stop solution to all cargo related requirements. They are a licensed custom house agent, professionally managed by a team of experts. Their concern was established in 2006 and right from its inception, it has been exhibiting brilliant performance while wining the trust of thousands of its clients from all over the world. As a service provider, they offer a comprehensive range of services which includes Freight Forwarding, Transportation, Delivery, Customs Documentation, Custom Clearance, Cargo Handling, Air Cargo Agent, Custom Broker, Import Clearance, etc.
At Subject they are equipped with a world class infrastructural base along with a massive workforce comprising of highly skilled professionals with rich industry experience. In addition, they have established strategic alliances with many leading transport companies which further empower their concern. They aim at providing their clients the outstanding services at pocket friendly rates. Their professionals take great care of all consignments and handle the related sensitive issues with efficiency. Thus, they ensure that shipment is routed to the exact destination.
Their Services
They are a renowned service provider engaged in the industry as a licensed custom house agent offering the following range of services-
v Freight Forwarding
v Transportation
v Delivery
v Customs Documentation
v Custom Clearance
v Cargo Handling
v Air Cargo Agent
v Custom Broker
v Import Clearance
v Custom House Agent.
Their Freight Forwarding Services include everything from Next Flight Out Air, Next Day A.M. Priority Air, Second Day Air to International Shipping, International Ocean, Local, LTL (Less than Load), Flat Beds, Crating, General Labor, Air Cargo, etc.
Their Quality
At Subject, they believe that the quality standards of their services and their business success are inextricably linked. The better the services, the more the success they can achieve. Inspired by such an attitude, they are committed to deliver their clients world class solutions to their cargo related requirements. They have also attained a regular CHA License. Their services are efficient, most reliable and competitively priced. To ensure all these, they adopt a well planned Quality Management System. Quality objectives are set with the goal to achieve international quality standard and every effort is made to win complete satisfaction of their valued clients. This is the way, they believe, to sustain the trust that their clients confidently put in them.
Their Strength
v A robust infrastructure well equipped with world class facilities
v A highly experienced, skilled and efficient workforce
v A regular CHA license
v Registered organization to forward freights
v Transport facilities to pick up and deliver consignments
v Competitively priced services.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.41 |
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UK Pound |
1 |
Rs. 79.81 |
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Euro |
1 |
Rs. 57.58 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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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. |
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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