MIRA INFORM
REPORT
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Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
PLANT ENGINEERING CORPORATION |
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Registered Office : |
Hirose Bldg 8F, 3-17 Kanda-Nishikicho
Chiyodaku |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
April 1987 |
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Com. Reg. No.: |
(Tokyo-Chiyodaku) 028653 |
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Legal Form : |
Limited Company |
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Line of Business : |
Plant Maintenance Firm |
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 : |
Yen 107.5 Million |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
--- |
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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
PLANT ENGINEERING CORPORATION
REGD NAME
Plant Maintenance
KK
MAIN OFFICE
Hirose Bldg 8F,
3-17 Kanda-Nishikicho Chiyodaku Tokyo 101-0054
Tel:
03-5259-1611 Fax: 03-5259-1621
URL: www.pmchq.co.jp
E-mail: gaff@pmchq.co.jp
ACTIVITIES
Plant
maintenance firm
BRANCHES
Nil
OFFICER(S)
KAZUO
SAITO, PRES Tomokazu
Saitoh, mgn dir
Keiko
Nogita, dir Miyoko
Murakami, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 3,568 M
PAYMENTS REGULAR CAPITAL Yen 50 M
TREND STEADY WORTH Yen
326 M
STARTED 1987 EMPLOYES 18
COMMENT
PLANT
MAINTENANCE FIRM.
FINANCIAL SITUATION CONSIDERED FAIR
AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 107.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The subject company was established on the basis of a chemical division
separated from Mitsui& Co Ltd. This
is a plant maintenance firm covering a wide range of plants overseas. In Nov 2003, the company board and employees
obtained the company through MBO. And in
November 2006, the firm became fully independent of its former company, Mitsui
& Co Ltd. Activities cover overseas
plants: petrochemical, oil refinery, gas chemical, iron & steel, coal,
mineral refining, other (See OPERATION).
It exports plant equipment, spare parts, other
FINANCIAL INFORMATION
The sales volume for Mar/2010 fiscal term amounted to Yen 3,568 million,
a 45% up from Yen 2,453 million in the previous term. This is thanks to the large supply contacts
of plant equipment and parts to several of contracted facilities overseas. The recurring profit was posted at Yen 69
million and the net profit at Yen 42 million, respectively, compared with Yen
42 million recurring profit and Yen 23 million net profit, respectively, a year
ago. .
For the current term ending Mar 2011 the recurring profit is projected
at Yen 75 million and the net profit at yen 50 million, respectively, on a 7%
rise in turnover, to Yen 3,800 million.
Business is seen expanding steadily.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit is
estimated at Yen 107.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr
1987
Regd No.: (Tokyo-Chiyodaku)
028653
Legal Status: Limited Company (Kabushiki Kaisha)
Authorized: 4,000 shares
Issued: 1,000 shares
Sum: Yen 50 million
Major shareholders (%): Kazuo Saitoh (40), Tomokazu
Takahashi (30), Keiko Nogita (15), Miyoko Murakami (13), Employees’ S/Holding
Assn (2)
No. of shareholders: 5
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Plant
maintenance business for: refinery, petrochemical, fertilizer, LNG & Gas,
power plant (coal, petroleum, gas, waterpower, atomic energy), mining refining,
plant and steel plant, material handling equipment, water treatment plant (RO
seawater desalination plant), other, including supply of equipment (new
facility introduction and modification), supply of spare parts, technical
advisory service, other (--100%).
Clients: [Mfrs,
wholesalers] Mitsui & Co, other
Exports plant equipment & spare parts to:
No. of accounts: 500
Domestic areas of
activities: Nationwide
Suppliers: [Mfrs,
wholesalers] Mitsui Zosen Shipbuilding, Hitachi Ltd, Nippon Steel, Kobe Steel,
Japan Steel Works, MES Techno Service, other
Payment record: Regular
Location: Business area in
Bank References:
·
SMBC (Kanda)
·
MUFG (Kanda)
Relations:
Satisfactory
FINANCES
(In Million Yen)
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Terms Ending: |
31/03/2011 |
31/03/2010 |
31/03/2009 |
31/03/2008 |
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Annual
Sales |
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3,800 |
3,568 |
2,453 |
2,382 |
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Recur.
Profit |
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75 |
69 |
42 |
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Net
Profit |
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50 |
42 |
23 |
53 |
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Total
Assets |
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852 |
845 |
843 |
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Current
Assets |
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691 |
708 |
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Current
Liabs |
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488 |
520 |
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Net
Worth |
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326 |
287 |
272 |
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Capital,
Paid-Up |
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50 |
50 |
50 |
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Div.P.Share(¥) |
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4,000.00 |
8,000.00 |
32,000.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
6.50 |
45.45 |
2.98 |
85.95 |
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Current Ratio |
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.. |
141.60 |
136.15 |
.. |
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N.Worth Ratio |
.. |
38.26 |
33.96 |
32.27 |
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R.Profit/Sales |
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1.97 |
1.93 |
1.71 |
.. |
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N.Profit/Sales |
1.32 |
1.18 |
0.94 |
2.23 |
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Return On Equity |
.. |
12.88 |
8.01 |
19.49 |
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Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/03/2011 fiscal term.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.59 |
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1 |
Rs.72.31 |
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Euro |
1 |
Rs.60.73 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.