MIRA
INFORM REPORT
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Report Date : |
02.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE TRIBUNE TRUST |
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Registered Office : |
Sector -29 – C, Chandigarh 160029, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1881 |
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Legal Form : |
It is a public trust with an unlimited Liability. |
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Line of Business : |
Subject is a Publisher of Newspapers known as “THE TRIBUNE”, “DAINIK
TRIBUNE” and “PUNJAB TRIBUNE”. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old established and reputed publisher of newspapers. It
is managed by trustees who are eminent personalities. General financial
position is good. Payments are correct and as per commitments. It can be
considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Sector -29 – C, Chandigarh 160029, Punjab, India |
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Tel. No.: |
91-172-2655066 /72 / 2655074 |
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Fax No.: |
91-172-2657149 / 2651291 / 2651293 |
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E-Mail : |
news@tribuneindia.com |
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Website : |
http://www.tribuneindia.com |
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Location: |
Owned |
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Commercial Offices : |
16, Syed Amir Ali Avenue, Rajiv Dheer, Kolkata, West Bengal, India Tel No: 91-33-22478926 / 22476777 / 22402667 (Res.) B-9, Sideo Estate, Kedungaiyur, Sishil Haridas, Chennai, Tamil Nadu, India Tel No: 91-44-2537 1140 1260, Vijaynagar, Hosahalli Extension, T.C.S. Basavaraj, Bangalore, Karnataka, India H. No. 193, Road No. 7, West Nehru Nagar, D.N. Gupta, Secunderabad, Andhra Pradesh, India Tel No:91-40-27800154 / 27802674 |
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Sub Offices: |
Bombay Life Building No. 38, Connaught Circus, New Delhi, India 91-11-23310045 /2331 (Res.) 91-11-25195367 Mobile : 9810158364 Hall Bazar, Amritsar, Punjab, India 91-183-2557099 Chhotibana Dari, Patiala, Punjab, India 91-175-2212110 Bhadayrhouse, A. C. Market, Ludhiana, Punjab, India 91-161-2707410 20 Ladowali Road,, Jalandhar, Punjab, India 91-181-2226116 1129, Sector 22-B, Chandigarh, India 91-712-5087699 Gayatri Bhavan Sone Path, Rohtak, Haryana, India 91-1262-230080 Amar Niwas The Mall, Shimla, Rajasthan, Himachal Pradesh 91-177-2202388 B-9, SIDCO Estate, Kodunguiyur, Chennai – 600018, Tamil Nadu, India 91-44-25545431/534114091-44-25540571 (Marketing Department) 9841010723 16, Syed Amir Ali Avenue, Kolkata – 700017, West Bengal, India 91-33-22478926/22476777 / 91-33-22479163 / 9830049220 No.3, CPR Layout, II Cross, Kamanahooli, Main Road, St. Thomas Town PO, Bangalore – 560084, Karnataka, India 91-80-5446955 / 9845234036 49-B, Raja Bahadur Compound, 32 Bombay Samachar Marg, Fort, Mumbai – 400001, Maharashtra, India 91-22-22656541/24094242 / 9821064509 917, Raheja Chambers, 213 Nariman Point, Mumbai 91-22-22873683 |
TRUSTEES
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Name : |
Mr. R. S. Talwar – Trustee |
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Designation : |
I.A.S. (Retired), Former Chief Secretary of Government of Punjab |
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Name : |
Dr. R. P. Bambah – Trustee |
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Designation : |
Former Vice Chancellor, Punjab University |
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Name : |
Mr. Justice S. S. Sodhi |
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Designation : |
I.A.S. (Retired), Former Chief Justice, Allahabad High Court |
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Name : |
Mr. N. N. Vohra |
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Designation : |
I.A.S. (Retired) |
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Name: |
Mr. Asseem Malhotra |
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Designation: |
Head Marketing |
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Mobile No: |
91-9818449232 |
MANAGEMENT
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Name : |
Mr. Ashok Arora |
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Designation : |
Deputy Manager |
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Contact No: |
91-22-2680374 |
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Name : |
Mr. Anil Pandhi |
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Designation : |
Accounts / Financial |
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Contact No: |
91-22-2680243 |
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Name : |
Mr. Rajeshwar Chopda |
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Designation : |
Assistant General Manager |
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Contact No: |
91-22-2680245 / 91-9814122869 |
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Email: |
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Name : |
Mr. B. P. Sharma |
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Designation : |
Marketing Department |
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Contact No: |
91-22-2655066 / 072 |
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Name : |
Mr. Mohit Sharma |
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Designation : |
Marketing Head |
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Contact No: |
91-22-2680366 |
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Name: |
Mr. Asseem Malhotra |
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Designation: |
Head Marketing |
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Mobile No: |
91-9818449232 |
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Name: |
Mr. H. K. Dua |
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Designation: |
Printer and Publisher |
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Name: |
Vinay Varma |
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Designation: |
Deputy General Manager |
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Name: |
Mr. Rajeshwar Chopda |
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Designation: |
Assistant General Manager |
BUSINESS DETAILS
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Line of Business : |
Subject is a Publisher of Newspapers known as “THE TRIBUNE”, “DAINIK
TRIBUNE” and “PUNJAB TRIBUNE”. |
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Imports : |
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Products : |
Newsprint and Raw Materials |
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Countries : |
USA, Canada, Russia, Germany and Japan |
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Terms : |
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Selling : |
D/ P/ terms |
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Purchasing : |
L/C, D/A |
GENERAL
INFORMATION
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No. of Employees : |
1100 |
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Bankers : |
v Allahabad Bank,
Chandigarh v State Bank of
India, Chandigarh v HDFC Limited,
Panckula, Haryana |
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Facilities : |
The concern enjoys substantial facilities from its banker. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. P. Chopra and Company (Chartered Accountant) |
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Address : |
Connaught Place, New Delhi |
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Tel. No.: |
91-22-23730770 |
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Memberships : |
v Indian Newspaper
Society, New Delhi, India v Audit Bureau of
Circulations Limited, Mumbai, Maharashtra, India |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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1200.000 |
1000.000 |
LOCAL AGENCY
FURTHER INFORMATION
Subject was established on 2nd February, 1881 at Chandigarh
as a public trust.
Subject started publication on February 2, 1881, in Lahore (now in
Pakistan). It was started by Sardar Dyal Singh Majithia, a public spirited
philanthropist, and is run by a trust comprising five eminent persons as
trustees.
The English edition apart, the 124-year old Tribune has two sister
publications, Punjabi Tribune (in Punjab) and Dainik Tribune (in Hindi)
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.39.98 |
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UK Pound |
1 |
Rs.79.09 |
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Euro |
1 |
Rs.62.25 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
8 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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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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63 |
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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