%20PRIVATE%20LIMITED%20139221%2020-Apr-2011_files/image009.jpg){kind=small}
1. Summary Information
|
Country |
|
||
|
Company Name |
SWIBER OFFSHORE
( |
Principal Name 1 |
Mr. Chee Neng Yeo |
|
Status |
Not Commenced
Business till March 2010 |
Principal Name 2 |
Mr. Kim Teck Goh |
|
Registration # |
11-172214 |
||
|
Street Address |
B, 502, Delphi, |
||
|
Established Date |
10.07.2007 |
SIC Code |
-- |
|
Telephone# |
91-22-42434400/42434456 |
Business Style 1 |
Service Provider |
|
Fax # |
91-22-42434401 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Offshore Oil and Gas Industry |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.100,000/- |
Product Name 3 |
-- |
|
Shareholders |
Foreign holdings – 100% |
Banking |
-- |
|
Public Limited Corp. |
NO |
Business Period |
4 years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
C |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary
|
|
Swiber Offshore Marine Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
7,298,000 |
Current Liabilities |
7,314,000 |
|
Inventories |
0 |
Long-term Liabilities |
27,000 |
|
Fixed Assets |
0 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
7,341,000 |
|
Invest& other Assets |
11,000 |
Retained Earnings |
0 |
|
|
|
Net Worth |
(32,000) |
|
Total Assets |
7,309,000 |
Total Liab. & Equity |
7,309,000 |
|
Total Assets (Previous Year) |
116,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
0 |
Net Profit |
(63,000) |
|
Sales(Previous yr) |
0 |
Net Profit(Prev.yr) |
(33,000) |
MIRA INFORM REPORT
|
Report Date : |
20.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
SWIBER OFFSHORE ( |
|
|
|
|
Registered
Office : |
B, 502, Delphi, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
10.07.2007 |
|
|
|
|
Com. Reg. No.: |
11-172214 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63012MH2007FTC172214 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS57130D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AALCS0628Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Niche Service Provider to the Offshore Oil and Gas Industry |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Not Commenced Business till March 2010 |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Though the company was incorporated in 2007, it has not commenced any commercial
business activity till 2009-10. Payment terms are unknown. The company can be considered for business dealings on a safe and
secured trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
B, 502, Delphi, |
|
Tel. No.: |
91-22-42434400/42434456 |
|
Fax No.: |
91-22-42434401 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As On 05.10.2010
|
Name : |
Mr. Chee Neng Yeo |
|
Designation : |
Director |
|
Address : |
6, |
|
Date of Birth/Age : |
17.02.1968 |
|
Date of Appointment : |
10.07.2007 |
|
DIN No. : |
00882147 |
|
|
|
|
Name : |
Mr. Kim Teck Goh |
|
Designation : |
Director |
|
Address : |
47, Woodgoove Walk, |
|
Date of Birth/Age : |
12.12.1967 |
|
Date of Appointment : |
10.07.2007 |
|
DIN No. : |
00882169 |
|
|
|
|
Name : |
Mr. Nitish Gupta |
|
Designation : |
Director |
|
Address : |
72, |
|
Date of Appointment : |
03.12.2007 |
|
DIN No. : |
01865700 |
|
|
|
|
Name : |
Mr. Ramesh G. W. Kanjirakadu |
|
Designation : |
Director |
|
Address : |
301, Diamond Apartment, II T Main Gate, Powai, Mumbai – 400076, |
|
Date of Birth/Age : |
13.01.1956 |
|
Date of Appointment : |
10.07.2008 |
|
DIN No. : |
02234299 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 05.10.2010
|
Names of Shareholders |
|
No. of Shares |
|
Swiber Holding Limited – |
|
1509998 |
|
Goh Kim Teck |
|
01 |
|
Yeo Chee Neng |
|
01 |
|
Total |
|
1510000 |
As On 05.10.2010
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Niche Service Provider to the Offshore Oil and Gas Industry |
GENERAL INFORMATION
|
Bankers : |
Not available |
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|
|||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Devesh K Shah and Company Chartered Accountant |
|
Address : |
106, Banaji House, 1st Floor, 361, Dr D N Road, Flora
Fountain, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22025871/22838954 |
|
TeleFax No.: |
91-22-22027332 |
|
E-Mail : |
|
|
Pan No. : |
AAZPS8659N |
|
|
|
|
Holding Company : |
|
|
|
|
|
Associate/Subsidiary : |
|
CAPITAL STRUCTURE
As On 05.10.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1510000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.100
Million |
|
|
|
|
|
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 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 |
31.03.2010 |
31.03.2009 |
30.09.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.132) |
(0.070) |
(0.034) |
|
|
NETWORTH |
(0.032) |
0.030 |
0.066 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.027 |
0.027 |
0.027 |
|
|
TOTAL BORROWING |
0.027 |
0.027 |
0.027 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(0.005) |
0.057 |
0.093 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000
|
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000
|
0.000 |
|
|
Cash & Bank Balances |
7.098
|
0.100
|
0.100 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
0.200
|
0.000
|
0.000 |
|
Total
Current Assets |
7.298
|
0.100
|
0.100 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
7.314
|
0.031
|
0.028 |
|
|
Provisions |
0.000
|
0.028
|
0.000 |
|
Total
Current Liabilities |
7.314
|
0.059
|
0.028 |
|
|
Net Current Assets |
(0.016)
|
0.041
|
0.072 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.011 |
0.016 |
0.021 |
|
|
|
|
|
|
|
|
TOTAL |
(0.005) |
0.057 |
0.093 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
0.063 |
0.033 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
(0.063) |
(0.033) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
(0.063) |
(0.033) |
|
%20PRIVATE%20LIMITED%20139221%2020-Apr-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20139221%2020-Apr-2011_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20139221%2020-Apr-2011_files/image005.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
30.09.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.86)
|
(33.00) |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.97
|
(1.10) |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(229.41)
|
2.87 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.69 |
3.57 |
LOCAL AGENCY FURTHER INFORMATION
CHANGE OF ADDRESS
:
The Registered Office of the company has been shifted from 102,
Operations Review
and Outlook:
Company was incorporated on 10.07.2007 as a private limited company
under companies act, 1956. However, the company could not start with the
business which it had planned to undertake.
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 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.44.68 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.53 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.