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MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
YUSEN AIR AND SEA SERVICE (INDIA) PRIVATE LIMITED |
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Registered Office : |
2nd Floor, Tower-C, Cyber Greens, DLF Phase – III, Gurgaon
– 122 002, Haryana |
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Country : |
India |
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Date of Incorporation : |
21.03.2007 |
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Com. Reg. No.: |
036693 |
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CIN No.: [Company
Identification No.] |
U62200HR2007FTC036693 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKY00218B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Freight forwarder and Service Industry in Logistic. |
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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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a new Indian subsidiary of Yusen, Singapore having
companies in several other countries as well. It is in the process of establishing
itself in India. Trade relations are fair. Payments are reported as usually
correct and as per commitments. In view of strong promoters, the company can be considered good for
normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Yogesh Sonar |
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Designation : |
Mumbai Branch Manager |
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Contact No.: |
91-22-40536102 |
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Date : |
02.07.2008 |
LOCATIONS
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Registered Office : |
2nd Floor, Tower-C, Cyber Greens, DLF Phase – III, Gurgaon
– 122 002, Haryana, India |
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Tel. No.: |
91-124-4264610 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Head Office : |
No. 803, 8th Floor, Palm Court, Sukhrali Chowk, Gurgaon –
122 002, Haryana, India |
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Tel. No.: |
91-124-4264610 – 4619 |
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Fax No.: |
91-124-4264615 |
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Branch : |
Located at ·
Bangalore ·
Chennai ·
Pune ·
Mumbai ·
Delhi ·
Calcutta |
DIRECTORS
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Name : |
Mr. Penta Miyazaki |
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Designation : |
Director |
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Address : |
A-11/21, Vasant Vihar, New Delhi – 110 057, Delhi, India |
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Date of Birth/Age : |
15.04.1951 |
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Date of Appointment : |
21.03.2007 |
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Name : |
Mr. Taizo Taguchi |
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Designation : |
Director |
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Address : |
No. 49, St. Thomas Walk, # 12-03, Singapore – 238 140 |
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Date of Birth/Age : |
10.01.1948 |
KEY EXECUTIVES
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Name : |
Mr. Yogesh Sonar |
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Designation : |
Assistant Branch Manager |
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Tel No. : |
91-22-40536102 |
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Mobile No : |
91-9987299301 |
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Email : |
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Name : |
Mr. Suthanesh Joseph |
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Designation : |
Assistant Branch Manager |
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Tel No. : |
91-80-25599114 |
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Mobile No : |
91-9972306261 |
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Email : |
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Name : |
Mr. Karthikey |
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Designation : |
Assistant Branch Manager |
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Tel No. : |
91-44-43102602 |
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Mobile No : |
91-9789056780 |
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Email : |
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Name : |
Mr. Mukesh Rehal |
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Designation : |
General Manager – India Operation |
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Tel No. : |
91-124-4264613 |
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Mobile No : |
91-9971498631 |
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Email : |
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Name : |
Mr. Dhermendra Kr. Varshney |
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Designation : |
Manager – Operations |
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Tel No. : |
91-124-4264614 |
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Mobile No : |
91-9971498635 |
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Email : |
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Name : |
Mr. Sandeep Kumar |
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Designation : |
Assistant Manager – Sales |
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Tel No. : |
91-124-4264629 |
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Mobile No : |
91-9958897217 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 23.02.2007)
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Names of Shareholders |
No. of Shares |
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Yusen Air and Sea Service(S) Pte. Limited, Singapore |
4499999 |
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Penta Miyazaki |
1 |
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Total |
4500000 |
BUSINESS DETAILS
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Line of Business : |
Freight forwarder and Service Industry in Logistic. |
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Exports : |
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Countries : |
·
Far East ·
USA ·
Europe |
GENERAL
INFORMATION
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No. of Employees : |
30 |
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Bankers : |
·
ICICI Bank ·
Bank of Tokyo |
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Banking
Relations : |
- |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
Yusen Air and Sea Service (Pte) Limited Singapore |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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9000000 |
Equity Shares |
Rs.10/- each |
Rs.90.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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40.000 |
LOCAL AGENCY FURTHER
INFORMATION
Trade References :
·
Yamaha Motors
·
Tata Yazaki
Overview
A great journey
always begins with a single step and Yusen group has come a long way from a
humble beginning in the year 1955
by an eminent futurist.
Yusen Group started
as an International Travel Consultants Inc. for handling General Travel and Air
cargo industry.
Today this company
is operating integrated Logistics related services i.e, sea, air freight
forwarding and customs clearance service.
Depending upon the
requirement of the customers, it offers all types of transportation services of
shipments by rail, road, sea & air. Consignments are picked up from the
desired locations as mentioned by the customers and is delivered at there
doorstep. An excellent network of global operator promises safe and timely
delivery of the cargo to their destinations. The company also provides a
comprehensive range of value added distribution services for exports and
imports of shipment by air / ocean.
Presently Yusen is
the 5th largest Logistics
Company in the world. It is having 226
offices in 33 countries in the
following five regions:-
- Japan
- America
- Europe
- East asia
- South Asia
and Oceania
Yusen India was established in March, 21
2007 in India.
Subject offer its customer a complete range of Total Logistics Solutions:
- International
and Domestic Air Freight Forwarding
- International
Ocean Freight Forwarding
- Land
Transportation Service (Truck & Rail)
- Value added
3PL Service
- Charter
Brokerage (Airplane, Vessel and Vehicle)
- Any other
specialized services on customer's Demand
Subject offers
door to door services throughout the World with help from its Global Network.
Initiation Ceremony 2008 for New Employees
Subject
(President: Shunichi Yano) held an initiation ceremony at its head office on
April 1st, 2008. The assembled 50 new employees joining the company this year
were greeted with words of welcome and encouragement from Mr. Yano.
He
particularly stressed the need for all YAS Group employees to establish a
shared understanding of the recently announced Medium-Term Business Plan “YAS
Five-Star Project,” clearly identify a way forward through the current harsh
business environment and make a concerted effort to achieve the company's new
plan.
Mr.
Yano also underlined an understanding of “the customer's perspective” and “an
international outlook” as the two key points required of all YAS employees. He
called on the company's new employees to always deal with customers sincerely
and in good faith and strive to understand the customer's standpoint, as well
as adopting a global outlook and developing their knowledge and sensitivity
with regard to international trends to provide the company with a new source of
strength.
Announcement of a new Medium-Term
Business Plan “YAS Five-Star Project”
Subject
(President: Shunichi Yano) announced on March 28th that it had formulated a new
Medium-Term Business Plan “YAS Five-Star Project” for the period from FY2008 to
2010 and that the plan had been approved by the Board of Directors at a meeting
of the same day.
Having
celebrated its 50th anniversary in February 2005, the YAS Group launched its
three-year Medium-Term Business Plan “YAS Global Challenge” in April that same
year to mark the occasion. Since then, the Group has continued to work on
laying the corporate foundations for the next 50 years. Adopting a basic policy
revolving around the evolution of the Group's operating base, the reinforcement
of its business infrastructure and efforts to secure and train the essential
underlying human resources, the Group has continued to actively implement
measures in various areas in an effort to maintain increased sales and profit
and improve corporate value.
On-Site Inspection by the Fair Trade
Commission
The
Fair Trade Commission conducted today an on-site inspection of the Company to
investigate suspected violations of the Anti-Monopoly Act with respect to the
air fare and fuel oil surcharge of international air cargo transportation.
The
Company has been committed to legal compliance, and will fully cooperate with
the Fair Trade Commission's inspection.
YAS (INDIA) Head office moved for
expanding sales forces
In
an effort to cope with demand for logistics in India as it continues to grow at
a remarkable pace, Subject (President: Penta Miyazaki) moved its Delhi Head
office on March 17 in order to increase personnel and secure additional space
for the future.
This
move has relocated the office closer to the airport and Manesar industrial park
and is geared towards the establishment of an operating structure aimed at
closer interaction with customers than ever before.
With
a workforce numbering over 20, current staff levels have doubled compared to
initial levels when the office was first opened. There are also plans to
increase personnel further within the next year. The new office has opened up
roughly four times as much space as previously and will make every effort to
further expand operations and improve the quality of its services in the
future.
YAS (VIETNAM) moved its Haiphong
office
YUSEN
AIR & SEA SERVICE (VIETNAM) CO., LTD. (President: Tetsuro Tsuzuki) has
moved its Haiphong office (managed by the Hanoi Branch) to the building inside
the Nomura-Haiphong Industrial Zone.
The
Haiphong office has previously located a good place in front of the entrance to
the Nomura-Haiphong Industrial Zone.
It
has now moved to an even better placed location inside the Industrial Zone, on
the first floor of the administration building. The new office, across the
customs office, has become even closer to many customers, and has been provided
with substantially improved communication and electricity infrastructure.
Making
the most of this new environment, the Haiphong office will make every effort to
provide its customers with even higher quality services in the future.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.37 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.68.08 |
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 |
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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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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49 |
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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