- Summary Information
|
Company Name |
SYNERGY MARITIME PRIVATE LIMITED |
Principal Name 1 |
Mr. Ramadass Venkatrao |
|
Status |
Small Company |
Principal Name 2 |
Mr. Deep Sharma |
|
Street Address |
9, Panchvati, 1st Floor, Corner
of S V Road and Bajaj Road, Kandivali (West), Mumbai – 400067, Maharashtra,
India |
||
|
Established Date |
06.07.2006 |
SIC Code |
-- |
|
Telephone# |
91- 22- 28654935 |
Business Style 1 |
Management Service |
|
Fax # |
91- 22- 28629775 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
NA |
Product Name 2 |
-- |
|
Paid up capital |
Rs.100000 |
Product Name 3 |
-- |
|
Shareholders |
Directors
or relatives of directors – 100.00% |
Banking |
-- |
|
Public Limited Corp. |
No |
Business Period |
2 Years |
|
IPO |
No |
International Ins. |
- |
|
Public Enterprise |
No |
Rating |
B |
|
Related Company |
|||
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Relation : -- |
Country : -- |
Company Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
4548000 |
Current Liabilities |
5952000 |
|
Inventories |
0 |
Long-term Liabilities |
0 |
|
Fixed Assets |
1799000 |
Other Liabilities |
17000 |
|
Deferred Assets |
0 |
Total Liabilities |
5969000 |
|
Invest& other Assets |
21000 |
Retained Earnings |
299000 |
|
|
|
Net Worth |
399000 |
|
Total Assets |
6368000 |
Total Liab. & Equity |
6368000 |
|
Total Assets (Previous Year) |
2466000 |
|
|
|
P/L Statement as of |
31.03.2008 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
2861000 |
Net Profit(Prev.yr) |
102000 |
MIRA
INFORM REPORT
|
Report Date : |
15.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SYNERGY MARITIME PRIVATE LIMITED |
|
|
|
|
Registered Office : |
9, Panchvati, 1st Floor, Corner of S V Road and Bajaj Road,
Kandivali (West), Mumbai – 400067, Maharashtra |
|
|
|
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Country : |
India |
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|
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|
Financials (as on) : |
31.03.2008 |
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|
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|
Date of Incorporation : |
06.07.2006 |
|
|
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Com. Reg. No.: |
11- 162979 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74140MH2006PTC162979 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
They Provide total ship management services that include
technical and crew management of modern ships. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 1900 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
No Complaints |
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|
Litigation : |
Clear |
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|
Comments : |
Subject is a relatively small company in it is field. Trade relations
are fair. Scale of activity is limited. No complaints have been heard. The company can be considered good for normal business dealings. |
LOCATIONS
|
Registered Office : |
9, Panchvati, 1st Floor, Corner of S V Road and Bajaj Road,
Kandivali (West), Mumbai – 400067, Maharashtra |
|
Tel. No.: |
91- 22- 28654935 |
|
Fax No.: |
91- 22- 28629775 |
|
E-Mail : |
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Website : |
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Head Office : |
5A, Doshi Towers, 205, Poonamallee High Road, Kilpauk, Chennai –
600010, Tamilnadu, India |
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|
|
|
Corporate Office : |
703, 709- 710 Common Goal Tower, Finance St. Corner Industrial St.,
Ayala Alabang, Mantinlupa City, 1700 Philippines |
|
Tel. No.: |
+63- 2- 8078241 |
|
Fax No.: |
+63- 2- 8096867 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Ramadass Venkatrao |
|
Designation : |
Director |
|
Address : |
Flat No.12, BBL Thallam Garden Old No.51/ New No.121, New Avadi Road,
Kilpauk, Chennai – 600010, Tamilnadu, India |
|
Date of Birth/Age : |
22.08.1968 |
|
Date of Appointment : |
06.07.2006 |
|
|
|
|
Name : |
Mr. Swaminathan Hariharaputhran Swaminathan |
|
Designation : |
Director |
|
Address : |
429 C, Srinivasa Nagar, Tirunelveli – 627011, Tamilnadu, India |
|
Date of Birth/Age : |
07.06.1970 |
|
Date of Appointment : |
29.09.2007 |
|
|
|
|
Name : |
Mr. Deep Sharma |
|
Designation : |
Director |
|
Address : |
Prabhu Kunj, D- 1/ A- 12, Sector 1, Alliganj, Lucknow – 226024, Uttar
Pradesh, India |
|
Date of Birth/Age : |
16.07.1976 |
|
Tel No.: |
91- 522- 2371310 |
|
Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 24.09.2008
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ramadass Venkatrao |
|
5000 |
|
Mr. Swaminathan Hariharaputhran Swaminathan |
|
5000 |
|
Total |
|
10000 |
AS ON 24.09.2008
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
They Provide total ship management services that include
technical and crew management of modern ships. |
GENERAL
INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gupta Verma and Association Chartered Accountant |
|
Address : |
A- 103, Rajeshri Accord, Telly Gully Cross Line, Andheri (East),
Mumbai – 400069, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 24.09.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs. 10/- Each |
Rs.1.000 Million
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 10/- Each |
Rs.0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.299 |
0.103 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.399 |
0.203 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.017 |
0.007 |
|
|
|
|
|
|
|
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TOTAL |
|
0.416 |
0.210 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.799 |
0.520 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000
|
0.000 |
|
|
Sundry Debtors |
|
1.164
|
0.000 |
|
|
Cash & Bank Balances |
|
1.883
|
0.852 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
1.501
|
1.065 |
|
Total
Current Assets |
|
4.548
|
1.917 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
5.578
|
2.171 |
|
|
Provisions |
|
0.374
|
0.085 |
|
Total
Current Liabilities |
|
5.952
|
2.256 |
|
|
Net Current Assets |
|
(1.404)
|
(0.339) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.021 |
0.029 |
|
|
|
|
|
|
|
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TOTAL |
|
0.416 |
0.210 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
|
|
|
|
|
Total Income |
|
|
2.861 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.183 |
|
Provision for Taxation |
|
|
0.081 |
|
Profit/(Loss) After Tax |
|
|
0.102 |
|
|
|
|
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Total Expenditure |
|
|
2.678 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
|
-- |
03.56 |
|
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|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
-- |
06.39 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
-- |
07.50 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
-- |
0.90 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
14.91 |
11.11 |
|
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Current Ratio (Current Asset/Current Liability) |
|
|
1.30 |
1.17 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The registered office of the company change from 303, Ridhi CHS,
Chikuwadi, Borivali (west), Mumbai – 400092, Maharashtra to 9, Panchvati, 1st
Floor, Corner of S V Road and Bajaj Road, Kandivili (West), Mumbai – 400067,
Maharashtra with effect from 25.03.2007
Operations
The company was incorporated on 6th
July, 2006 and during the initial period the company concentrated on setting up
the business activities and has earned total income of Rs.2.861 Millions
towards retainership and management fees. After incurring expenditure of
Rs.2.677 Millions the net profit before tax was Rs.0.183 Million. After
providing for taxation of Rs.0.081 Million the net profit after tax amounted to
Rs.0.102 Million, which was carried forward to the balance sheet of the
company.
Fixed Assets
- Office Premises
- Furniture and Fixture
- Motor Vehicles
- Computer System
- Machinery and Equipment
News Release
M.V.Cala Pinguino
The 1774TEU “M.V.Cala Pinguino” was delivered from Imabari shipyard on the 30th January 2007 on behalf of owners Southern Route Maritime. With a complement of 20 she is the first container vessel joining the synergy fleet. The vessel is on long-term charter to the Costa Container Lines and will be trading in the Central American route between Mexico, Panama, Cuba, Veneuzela and Brazil.
M.V.Golden Sakura
Panamax Bulk Carrier “M.V.Golden Sakura ” was delivered from Imabari shipyard Marugame on the 23rd August 2007 under the ownership of Ms Southern Route Maritime. This is the first of the four bulk carriers being constructed in this shipyard (Hull No1460). Further this is the first vessel which is manned by their Philippines Business Associates “Philsynergy”. She is on long-term time charter to Louis Dreyfus Corp and her maiden voyage started from Japan to Brazil.
M.V.Medi Antwerp
“M.V.Medi Antwerp ” (Hull no s-1461) was delivered from Imabari shipyard Marugame under the ownership of Southern Route Maritime. The second line after Golden Sakura, was named and delivered on 26th September 2007, by her time chartered - D’Amico’s representative. She started her maiden voyage to Portland USA for loading grains for Persian Gulf, under Noble subcharters.
M.V. Lady Maria Luisa
M.V. Lady Maria Luisa (Hull no S-1462) was delivered from Imabari shipyard Marugame under the ownership of Southern Route Maritime. on 22nd October 2007.
M.V. GOLDEN KIJI
M.V. GOLDEN KIJI (Hull no S-1643) was delivered from Imabari shipbuilding Co.Ltd. under the ownership of Sun Lanes Shipping on 19th November 2007. She started her maiden voyage to Vancouver, Canada in ballast to load cargo for Australia.The vessel is under the long time charter of Sangamon Transportation Group.
M.V. TS JAPAN
M.V. TS JAPAN (Hull no S-651) was delivered from Imabari shipbuilding Co.Ltd. under the ownership of Green Spanker Shipping S.A. on 29th November 2007 and is on long time charter to TS Lines ,Taiwan.
M.V. TS CHINA
The 1708TEU container M.V. TS CHINA (Hull no S-652) was launched from Imabari shipyard Marugame under the ownership of Southern Route Maritime. on 8th January 2008 .She is on long time charter to TS Lines ,Taiwan.
M.T. ALAM BITARA
Malaysian Tanker,M.T. ALAM BITARA (Hull no H-1036) is the
latest addition to the Synergy Fleet .She was taken over on 17th Feb 2008 at
Pasir Gudang ,Malaysia .
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.71 |
|
UK Pound |
1 |
Rs.72.85 |
|
Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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. |
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 |
|