MIRA INFORM REPORT
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Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL BUNKER SERVICES KK |
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Registered Office : |
MLC Kojimachi Bldg, 2-8 Kojimachi
Chiyodaku Tokyo 102-0083 |
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Country : |
Japan |
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Financials (as on) : |
30.04.2011 |
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Date of Incorporation : |
March 2005 |
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Legal Form : |
Limited Company |
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Line of Business : |
Supply of marine fuel oils, lubricants |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
Yen 22.2 Million |
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Status : |
Moderate |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Japan |
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
INTERNATIONAL BUNKER SERVICES KK
REGD NAME
International Bunker
Services KK
MAIN OFFICE
MLC Kojimachi
Bldg, 2-8 Kojimachi Chiyodaku Tokyo 102-0083JAPAN
Tel:
03-5215-8120 Fax: 03-5215-8121
E-Mail address: ibs@ibskk.com
ACTIVITIES
Supply
of marine fuel oils, lubricants
BRANCHES
Nil
OFFICER(S)
HIDEO
SHIKADA, PRES
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 12,402 M
PAYMENTS REGULAR CAPITAL Yen 10 M
TREND SLOW WORTH Yen
22 M
STARTED 2005 EMPLOYES 10
COMMENT
SUPPLIER OF MARINE FUEL OILS AND LUBRICANTS, OWNED BY DANISH
CAPITAL.
FINANCIAL SITUATION CONSIDERED FAIR AND GOOD FOR ORDINARY
BUSINESS ENGAGEMENTS.
MAX CREDIT LIMIT: YEN 22.2
MILLION, 30 DAYS NORMAL TERMS.
HIGHLIGHTS
The subject company was established by a Danish shipping company &
bunkering group, established in 1876, in order to market bunkering fuels and
lubricants in Japan. The firm has three
divisions: supply of marine fuel/diesel oils, lubricants and ship husbanding
agency division. This is a trading firm
for import and supply bunker oils & lubricants for vessels calling Japanese
ports. It also offers agency services
for foreign vessels calling Japan. The
Danish group supplies bunkers & lubricants for vessels world over. It also arranges bunker surveyor from
surveyor companies, such as DNV, SGS & Intertek Caleb Brett. Clients are shipping companies, oil
companies, oil dealers, general trading houses, other, nationwide.
FINANCIAL INFORMATION
The sales for Apr/2010 fiscal term amounted to Yen 12,402 million, a 49%
up from Yen 8,391 million in the previous term. Demand for ship transportation
increased. Oil prices hike
contributed. Operations, however, plunged
into the red due to NC’s. The recurring
profit was posted at Yen 1 million, but the bottom line posted Yen 3 million
net losses, compared with Yen 1 million net profit a year ago.
For the term that just ended Apr 2011 the recurring profit was projected
at Yen 5 million and the net profit at Yen 3 million, respectively, on a % rise
in turnover, to Yen 13,000 million.
Final results are yet to be released.
The financial situation is considered FAIR and good for ORDINARY
business engagements. Max credit limit
is estimated at Yen 22.2 million, on 30 days normal terms.
REGISTRATION
Date Registered: Mar 2005
Legal Status:
Limited Company (Kabushiki Kaisha)
Authorized:
200 shares
Issued: 200
shares
Sum: Yen 10 million
Major shareholders (%):
Danish Capital (T. O. Nielsen) (100)
Nothing
detrimental is known as to the commercial morality of executives.
OPERATION
Activities: Supplier of
marine fuel & diesel oils, lubricants; ship agency services, arrangement of
bunker surveyors (--100%)
Clients: [Ship owners,
ship operators, oil traders] Royal Dutch Shell, Exxon Mobile, BP,
Sumitomo Corp, Marubeni Corp, Mitsui & Co, Mitsubishi Corp, other
No. of accounts: 200
Domestic areas of
activities: Nationwide
Suppliers: [Oil refineries,
oil traders, general trading houses] Group firms, Shinanen Co, Mitsubishi Corp,
Sumitomo Corp, Marubeni Corp, Mitsui & Co, other.
Payment record: Regular
Location: Business area in
Tokyo. Office premises at the caption
address are leased and maintained satisfactorily.
Bank
References:
SMBC (Hibiya)
Relations: Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
30/04/2011 |
30/04/2010 |
30/04/2009 |
30/04/2008 |
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Annual
Sales |
|
13,000 |
12,402 |
8,391 |
10,651 |
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Recur.
Profit |
|
5 |
1 |
8 |
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Net
Profit |
|
3 |
-3 |
1 |
12 |
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Total
Assets |
|
|
1,054 |
706 |
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Current
Assets |
|
|
1,009 |
656 |
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Current
Liabs |
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|
1,032 |
684 |
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Net
Worth |
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|
22 |
21 |
20 |
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Capital,
Paid-Up |
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|
10 |
10 |
10 |
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Div.P.Share(¥) |
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|
0.00 |
0.00 |
0.00 |
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<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
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S.Growth Rate |
4.82 |
47.80 |
-21.22 |
31.77 |
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Current Ratio |
|
.. |
97.77 |
95.91 |
.. |
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N.Worth Ratio |
.. |
2.09 |
2.97 |
.. |
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R.Profit/Sales |
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0.04 |
0.01 |
0.10 |
.. |
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N.Profit/Sales |
0.02 |
-0.02 |
0.01 |
0.11 |
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Return On Equity |
.. |
-13.64 |
4.76 |
60.00 |
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Notes:
Forecast (or estimated) figures for the 30/04/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.89 |
|
UK Pound |
1 |
Rs.73.85 |
|
Euro |
1 |
Rs.64.76 |
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.