MIRA
INFORM REPORT
|
Report Date : |
10.03.2011 |
Note:
The Registered office of the company has been
shifted from 301,
IDENTIFICATION DETAILS
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Name : |
BROEKMAN LOGISTICS INDIA PRIVATE LIMITED (w.e.f. 29.10.2007) |
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Formerly Known
As : |
COURCAN CARGO ( |
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Registered
Office : |
307/308, Rangoli Complex, 3rd Floor, Opposite Sahar Air,
Cargo Complex, Andheri East, Mumbai-400099, |
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Country : |
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Financials (as
on) : |
31.12.2008 |
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Date of
Incorporation : |
07.01.1988 |
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Com. Reg. No.: |
045811 |
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CIN No.: [Company Identification
No.] |
U63010MH1988PTC045811 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC10026C |
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PAN No.: [Permanent Account No.] |
AAACC8442P |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Providing Logistic Services. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 110000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The
management has not filed latest financial of the company with the Government
Departments. However, trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. The company can be considered for business dealings with some caution.
|
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) |
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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 |
INFORMATION DECLLINED BY
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Name : |
Ms. Leena |
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Designation : |
Operator |
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Date : |
10.03.2011 |
LOCATIONS
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Registered Office/ Branch Office : |
307/308, Rangoli Complex, 3rd Floor, Opposite Sahar Air,
Cargo Complex, Andheri East, Mumbai-400099, |
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Tel. No.: |
91-22-26817590/ 7212/ 7101/ 7602 |
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Fax No.: |
91-22-26817628 |
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E-Mail : |
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Website : |
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Headquarters : |
Broakman Group Albert Plesmanweg 63, 3088 GB |
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Tel. No.: |
+ 31 (0) 10 4873 911 |
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Fax No.: |
+ 31 (0) 10 4282215 |
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Website: |
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Corporate / Branch Office : |
Jamals Chambers, 3rd Floor, New No. 49 (Old No. 26), |
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Tel. No.: |
91-44-22201591-95/ 42926363 |
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Fax No.: |
91-44-22301295/ 42926300 |
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E-Mail : |
DIRECTORS
As on 30.06.2009
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Name : |
Mr. Albert Hoek |
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Designation : |
Managing Director |
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Name : |
Mr. Raymond Riemen |
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Designation : |
Director |
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Date of Appointment : |
15.05.2006 |
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DIN No.: |
00786382 |
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Name : |
Mr. Martinus Johannes Van De Mee |
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Designation : |
Director |
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Date of Appointment : |
15.05.2006 |
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DIN No.: |
00786310 |
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Name : |
Mr. Handrik Mejiboom |
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Designation : |
Director |
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Date of Appointment : |
15.05.2006 |
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DIN No.: |
00786813 |
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Name : |
Mr. Rajiv Michael Susai Nathan |
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Designation : |
Additional Director |
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Address : |
Flat No. 4, Winds Court 146/26, |
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Date of Birth/Age : |
20.06.1967 |
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Date of Appointment : |
10.10.2010 |
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DIN No.: |
03294831 |
KEY EXECUTIVES
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Name : |
Ms. Leena |
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Designation : |
Operator |
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Name : |
Mr. Rajiv Michael Susai Nathan |
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Designation : |
Vice President |
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Name : |
Mr. Sandeep Tyagi |
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Designation : |
Marketing Manager- All |
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Name : |
Mr. S Sridhar |
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Designation : |
General Manager- Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2009
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List of Allotees |
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No. of Shares allotted |
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Broekman Logistics Division B.V., |
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450000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.06.2009
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Category |
Percentage |
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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 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Providing Logistic Services. |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the management |
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Bankers : |
The South Indian Bank Limited, Andheri Branch, Mumbai-400058, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
B S R and Company Chartered Accountant |
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Address : |
KPMG, Kamla Mills Compound, Senapati Bapat Marg, Lower Parel,
Mumbai-400013, |
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Tel. No.: |
91-22-39896000 |
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Fax No.: |
91-22-39836000 |
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Holding Company : |
Broekman Beheer B.V. Netherland, |
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Fellow Subsidiaries : |
As on 31.12.2007 ·
Broekman Air Logistics B.V., ·
Broekman Logistics N.V., ·
Broekman Logistics (S) Pte. Limited ·
F.A. Voigt and Company B.V., ·
Proceed Logistics B.V., |
CAPITAL STRUCTURE
As on 30.06.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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800000 |
Equity Shares |
Rs. 10/- each |
Rs. 8.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
As on 31.12.2008
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Notes:
1)
All the above shares are
held by the Broekman Logistics Division B.V. Netherland the holding company and
its sister concern.
2)
450000 Equity Shares of
Rs. 10 each are allotted as fully paid up bonus shares by capitalization of
accumulated profits.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.12.2008 (12 Months) |
31.12.2007 (9 Months) |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.000 |
5.000 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
22.273 |
39.320 |
35.243 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
27.273 |
44.320 |
35.743 |
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LOAN FUNDS |
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1] Secured Loans |
2.451 |
3.401 |
2.003 |
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2] Unsecured Loans |
28.966 |
32.479 |
27.813 |
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TOTAL BORROWING |
31.417 |
35.880 |
29.816 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
58.690 |
80.200 |
65.559 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
30.167 |
31.140 |
26.202 |
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Capital work-in-progress |
0.075 |
0.075 |
0.150 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.685 |
1.090 |
1.414 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
85.891
|
101.084 |
92.369 |
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Cash & Bank Balances |
3.114
|
3.171 |
11.291 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
26.110
|
15.066 |
5.844 |
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Total
Current Assets |
115.115
|
119.321 |
109.504 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
76.751
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|
68.047 |
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Other Current Liabilities |
7.206
|
7.496 |
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Provisions |
3.395
|
2.353 |
3.664 |
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Total
Current Liabilities |
87.352
|
71.426 |
71.711 |
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Net Current Assets |
27.763
|
47.895 |
37.793 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
58.690 |
80.200 |
65.559 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2008 (12 Months) |
31.12.2007 (9 Months) |
31.03.2007 |
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SALES |
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Income from operations |
614.195 |
452.298 |
505.618 |
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Other Income |
0.106 |
1.995 |
NA |
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TOTAL (A) |
614.301 |
454.293 |
NA |
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Less |
EXPENSES |
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Direct Expenses |
531.420 |
387.929 |
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Personnel Expenses |
40.751 |
24.691 |
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Administrative and other expenses |
49.677 |
23.162 |
NA |
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TOTAL (B) |
621.848 |
435.782 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[7.547] |
18.511 |
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Less |
FINANCIAL EXPENSES (D) |
3.440 |
1.994 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
[10.987] |
16.517 |
21.792 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.811 |
3.086 |
2.597 |
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PROFIT BEFORE
TAX (E-F) (G) |
[15.798] |
13.431 |
19.195 |
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Less |
TAX (H) |
1.249 |
4.787 |
7.353 |
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PROFIT AFTER TAX
(G-H) (I) |
[17.047] |
8.644 |
11.842 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
39.320 |
35.243 |
23.400 |
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Less |
Utilized for issue of bonus equity shares |
0.000 |
4.500 |
-- |
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|
|
|
|
|
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Less |
Adjustment of transitional liability towards employee benefits |
0.000 |
0.067 |
-- |
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Tax on Dividend |
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BALANCE CARRIED
TO THE B/S |
22.273 |
39.320 |
32.243 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
54.365 |
75.468 |
NA |
|
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TOTAL EARNINGS |
54.365 |
75.468 |
NA |
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|
Earnings Per
Share (Rs.) |
[34.09] |
17.29 |
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KEY RATIOS
|
PARTICULARS |
|
31.12.2008 (12 Months) |
31.12.2007 (9 Months) |
31.03.2007 |
|
PAT / Total Income |
(%) |
[2.78]
|
1.90 |
NA |
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|
|
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Net Profit Margin (PBT/Sales) |
(%) |
[2.57]
|
2.97 |
3.80 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
[10.87]
|
8.93 |
14.14 |
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Return on Investment (ROI) (PBT/Networth) |
|
[0.58]
|
0.30 |
0.54 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.35
|
2.42 |
2.84 |
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Current Ratio (Current Asset/Current Liability) |
|
1.32
|
1.67 |
1.53 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
(Rs.
in Millions)
|
Particulars |
31.12.2008 |
31.12.2007 |
31.03.2007 |
|
Sundry Creditors |
76.751 |
61.577 |
NA |
|
Total |
76.751 |
61.577 |
NA |
Bankers Charges Report
as per Registry
|
Name of the company |
COURCAN CARGO ( |
|
Presented By |
Mr. R B Thaker |
|
1) Date and description of instrument creating the change |
14th February 2001 1. Memorandum of Hypothecation of book debts 2. Letter endorsing deposits of title dees. Both Agreement Constitute Same Charge |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.500 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Book Detgbs Flat No. 3.01, 3rd Floor, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
@ 16.5% p.a. calculated on daily balance with monthly rates. |
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5) Name and Address and description of the person entitled to the charge. |
The South Indian Bank Limited, Andheri Branch, Mumbai-400058, |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
AS PER WEBSITE
Profile:
In
The growth of business - both Domestic and International - in
Broekman Logistics is growing larger by the day. They take great pride
in the professional staff and many of the team members are working with
Broekman Logistics from 10 - 20 years bringing continuous success to the
organization.
By carefully planning the growth of the company, they operate currently
12 offices in various important cities in
Why Broekman Logistics?
Because of "Global reach with a personal touch"
As Broekman Logistics they are able to ensure on-going commitment
towards the customers with a shared economy of scale in business for the
customers. They provide a unique service to all the customers and thank them
for there continued support for years - some of them go back as long as they
are in operation.
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 records 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.45.02 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.62.54 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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 |
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.