MIRA
INFORM REPORT
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Report Date : |
11.10.2007 |
IDENTIFICATION DETAILS
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Name : |
MILEAGE COMMUNICATIONS INDIA PRIVATE LIMITED |
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Registered Office : |
30, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.09.1998 |
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Com. Reg. No.: |
55-096346 |
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CIN No.: [Company
Identification No.] |
U74140DL1998PTC096346 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM05631D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject provides management consultancy 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 15000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are fair. Business is active. Payments are reported as 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 : |
30, |
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Tel. No.: |
91-11-26511423/ 26511342 |
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Fax No.: |
91-11-26511246 |
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E-Mail : |
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Website : |
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Overseas
Branches: |
Mileage Communications
Pte Ltd Tel: (65) 6222 1678
Fax: (65) 6222 5378 RAPR Mileage Communications Sdn Bhd PNV Mileage ( Mileage Communications
( |
DIRECTORS
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Name : |
Mr. Sunil Puri |
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Designation : |
Director |
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Address : |
30, |
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Date of Birth/Age : |
27.10.1955 |
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Date of Appointment : |
21.09.1998 |
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Name : |
Mrs. Neerja Vohra |
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Designation : |
Director |
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Address : |
E -7, Saket, |
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Date of Birth/Age : |
15.10.1939 |
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Date of Appointment : |
29.03.2004 |
KEY EXECUTIVES
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Name : |
D Gupta and Company |
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Designation : |
Company Secretary |
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Address : |
B-174, West Patel Nagar, |
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Mobile No.: |
91-9873318964, 9811423461 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Sunil Puri |
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25000 |
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Ms. Sheema Vohra |
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24999 |
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Ms. Patsy Phey |
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25000 |
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Mr. Yap Boh Tiong |
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25000 |
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Ms. Neeraja Vohra |
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1 |
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Category |
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Percentage
of Holding |
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Foreign holdings (Foreign institutional investor(s), Foreign
companie(s), Foreign financial institution(s), Non-resident Indian(s), or
Overseas corporate bodies or Others |
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50.00 |
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Directors or relatives of directors |
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50.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject provides management consultancy services. |
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Services: |
v Corporate
PR v Community
Relations v Crisis
Management v Corporate
Videos v Editorial
Services v Event
Management v Financial
PR v Information
Technology v Investor
Relations / IPO v Media
Relations v Media
Training v Multimedia
Presentations v Public
Affairs & Government Relations v Strategic
Marketing Communications
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GENERAL INFORMATION
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Customers: |
Subject service clients in the following
sectors: v
Banking / Finance v
Education v
Healthcare / Pharmaceutical v
Insurance v
Manufacturing v
Shipping v
Technology v
Consumer v
Hospitality v
Industrial v
Lifestyle v
Property Development v
Sports |
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Bankers : |
HDFC Bank |
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Facilities: |
- |
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Banking
Relations: |
Satisfactory |
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Auditors : |
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Name : |
Kumra Bhatia and Company Chartered Accountants |
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Address : |
79, Vasant Enclave, Palam Marg, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 10.00 each |
Rs. 1.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10.00 each |
Rs. 1.000
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.000 |
1.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.879 |
1.955 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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3.879 |
2.955 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.065 |
1.400 |
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TOTAL BORROWING |
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0.065 |
1.400 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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3.944 |
4.355 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.191 |
0.188 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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4.638 |
8.427 |
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Cash & Bank Balances |
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1.918 |
0.502 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.481 |
0.482 |
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Total
Current Assets |
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7.037 |
9.411 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.777 |
4.910 |
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Provisions |
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0.511 |
0.337 |
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Total
Current Liabilities |
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3.288 |
5.247 |
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Net Current Assets |
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3.749 |
4.162 |
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MISCELLANEOUS EXPENSES |
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0.003 |
0.005 |
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TOTAL |
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3.944 |
4.355 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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7.260 |
5.831 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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7.260 |
5.831 |
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Profit/(Loss) Before Tax |
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1.434 |
1.238 |
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Provision for Taxation |
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0.510 |
0.316 |
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Profit/(Loss) After Tax |
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0.924 |
0.922 |
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Expenditures : |
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Total Expenses |
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5.771 |
4.504 |
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Financial Charges |
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0.000 |
0.020 |
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Depreciation |
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0.055 |
0.069 |
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Total
Expenditure |
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5.826 |
4.593 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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12.73 |
15.81 |
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Net Profit Margin (PBT/Sales) |
(%) |
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19.75 |
21.23 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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19.84 |
12.90 |
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Return on Investment (ROI) (PBT/Networth) |
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0.37 |
0.42 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.86 |
2.25 |
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Current Ratio (Current Asset/Current Liability) |
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2.14 |
1.79 |
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
History
Incorporated in
Subject is expanding rapidly. Besides the regional headquarters in
4 offices in
Subject is a full-service
strategic marketing communications and public relations (PR) agency with its
main office in
1 office in
RAPR Mileage Communications Sdn Bhd (Formerly known as RA Public
Relations Sdn Bhd) is a part of the RA Group of Companies, one of the country's
most established local marketing communications groups with businesses in
Classifieds Advertising, Mainstream Advertising, Public Relations and
Promotions.
1 office in
Mileage Communications (
1 office in
This office was established in September 2001 by Hermawan Kartajaya,
President of MarkPlus&Co, and Yap Boh Tiong, Managing Director of Mileage
Communications Pte Ltd.
Subject is also the only
Subject is also the
In 1997, subject was rated as one of the top 10 PR agencies in
Philosophy and
Approach
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Operating philosophy: |
Approach focuses on solutions that are: |
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v
Observe integrity v
Add value v
Ensure quality |
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Result-oriented v
Cost effective v
Creative / innovative |
Founder
Yap Boh Tiong is the founder and Managing Director of Subject.
He has more than 30 years of experience in the mass communications field
encompassing journalism, public relations, advertising, marketing and
consultancy.
He was named PR Professional of the Year by the Institute of Public
Relations of Singapore in 2000.
Before setting up subject, Boh Tiong worked as:
v
A Journalist for Straits Times (
v
A Marketing Executive and Public Relations Officer
for
v
The Vice President and Head of the Public Relations
and Advertising Department for United Overseas Bank Group (one of Singapore's
leading local banks); and
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The Group Corporate Affairs Manager of Inchcape
Berhad (an international marketing, distribution and services company).
Outside of his work, Boh Tiong has provided public relations and
marketing advice to many educational, social and cultural organizations, such
as:
v
National Arts Council (
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Ngee Ann Polytechnic,
v
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National Fire Prevention Council,
v
v
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Boh Tiong has a Masters Degree in Social Science (Sociology) from the
Awards and
Accolades
v
Prism Award (1997) - Certificate of
Excellence from the
v
v
Sasha's & Company - For Asia's
First Teddy Bears' Picnic 1996: "The publicity has been great; we received
a call from Margarete Steiff GmbH to say that they saw us on CNN.
Congratulations and thank you. If ever Sasha's is big and rich enough to hire a
PR firm, we know who we will turn to."
v
Fujitsu Asia: "MILEAGE has
strong bonding with the media and its team of executives is highly motivated
and productive. As for weaknesses, I can only say that they work very hard and
fast, and this can be translated into added pressure for the client."
v
v
Larry Jewelry: When asked by a
prospective client "How does your company rate MILEAGE on a scale of 1 -
10?" [1 - Poor, 10 - excellent]
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.31 |
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1 |
Rs. 80.12 |
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Euro |
1 |
Rs. 55.76 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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