MIRA
INFORM REPORT
|
Report Date : |
14.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
ISS MACHINERY SERVICES LIMITED |
|
|
|
|
Registered Office : |
Osaka Kasen Bldg, 4-6-8 Kawaramachi Chuoku Osaka 541-0048 |
|
|
|
|
Country : |
Japan |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
April 1991 |
|
|
|
|
Com. Reg. No.: |
(Hong Kong) 004722 |
|
|
|
|
Legal Form : |
Branch Office |
|
|
|
|
Line of Business : |
Supply
of Ship Machinery & Equipment |
|
|
|
|
No. of Employees : |
127 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
Yen 510.5 Million |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Japan |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
ISS MACHINERY SERVICES LIMITED
REGD NAME: ISS
Machinery Services Limited (Branch Office)
MAIN OFFICE
Osaka Kasen Bldg,
4-6-8 Kawaramachi Chuoku Osaka 541-0048 JAPAN
Tel:
06-6203-5156 Fax: 06-6203-5195
URL: http//:www.issmachinery.com
E-mail: psc@iss-shipping.com
ACTIVITIES
Supply
of ship machinery & equipment
BRANCHES
Tokyo
OFFICER(S)
KIYONAMI
HAYASHI, MGN DIR
Taiki
Wakana, dir
Yen
Amount: In million Yen, unless
otherwise stated
SUMMARY
FINANCES FAIR A/SALES Yen 16,506 M
PAYMENTS REGULAR CAPITAL Yen 825 M
TREND UP WORTH Yen 2,873 M
STARTED 1991 EMPLOYES 127
COMMENT
SUPPLIER
OF SHIP ENGINES & EQUIPMENT, OWNED BY INCHCAPE
SHIPPING SERVICES
FINANCIAL SITUATION CONSIDERED
FAIR AND GOOD FOR ORDINARY BUSINESS ENGAGEMENTS
MAX
CREDIT LIMIT: YEN 510.5 MILLION, 30 DAYS NORMAL TERMS
HIGHLIGHTS
The
subject company was established originally in 1971 on the basis of a ship engine
sales division separated from Dodwell & Co Ltd and was reorganized in 1991
when the ownership changed to Inchcape Shipping Services. This is a branch office acting as import
agent for ship engines & machinery parts.
It has two operating divisions: Parts Supply Division (supplying ship’s
spare parts, etc), and Plant Machinery Division (supplying industrial &
land machinery). Goods are mostly
supplied from the domestic heavy machinery makers nationwide. Clients are shipping companies, shipyards,
oil refineries, other.
FINANCIAL INFORMATION
The
sales volume for Dec/2010 fiscal term amounted to Yen 16,506 million, an 11% up
from Yen 14,882 million in the previous term.
Large lot of orders received from Mid East and Asian countries, and sales
recovered to the normal level. The net
profit was posted at Yen 775 million, compared with Yen 780 million net profit
a year ago. .
For
the term just ended Dec 2011 the net profit was projected at Yen 830 million,
on a 6% rise in turnover, to Yen 17,500 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 510.5 million, on 30 days normal terms.
REGISTRATION
Date Registered: Apr
1991
Regd No.: (Hong
Kong) 004722
Legal Status: Branch Office
Regd Capital: Yen
825 million
Major shareholders (%): Istithmar PJSC (UAE)* (100)
*
Inchcape Shipping Service, the original owner, sold the stocks in Jan 2006
Nothing detrimental is known as
to the commercial morality of executives.
OPERATION
Activities: Imports and supplies marine spare
parts & equipment for vessels: main engine, auxiliary engine, pumps,
compressors, navigation, control, communication, deck & bridge equipment,
industrial & land machinery & equipment (--100%).
Clients: [Shipping lines, dockyards] Barber
Line, Oil Refinery, Billabong, other
No. of
accounts: 500
Domestic
areas of activities: Nationwide
Suppliers: [Mfrs, wholesalers] Mitsubishi Heavy
Ind, Kawasaki Heavy Ind, IHI, Kobe Steel, Kubota Corp, Naniwa Pump Mfg,
Payment record:
Regular
Location:
Business area in Osaka. Office premises
at the caption address are leased and maintained satisfactorily.
Bank References:
MUFG
(Kawaramachi)
Hong
Kong Shanghai Bank (Osaka)
Relations:
Satisfactory
FINANCES
(In Million Yen)
|
Terms Ending: |
|
31/12/2011 |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Annual
Sales |
|
17,500 |
16,506 |
14,882 |
16,489 |
|
Recur.
Profit |
|
|
|
|
|
|
Net
Profit |
|
830 |
775 |
780 |
747 |
|
Total
Assets |
|
|
N/A |
N/A |
N/A |
|
Net
Worth |
|
|
2,873 |
2,331 |
1,785 |
|
Capital,
Paid-Up |
|
|
285 |
285 |
285 |
|
Div.P.Share(¥) |
|
|
0.00 |
0.00 |
0.00 |
|
<Analytical Data> |
(%) |
(%) |
(%) |
(%) |
|
|
S.Growth Rate |
6.02 |
10.91 |
-9.75 |
14.66 |
|
|
Current Ratio |
|
|
.. |
.. |
.. |
|
N.Worth Ratio |
|
.. |
.. |
.. |
|
|
N.Profit/Sales |
4.74 |
4.70 |
5.24 |
4.53 |
|
Notes:
Financials are only partially disclosed.
Forecast
(or estimated) figures for the 31/12/2011 fiscal term.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.43 |
|
|
1 |
Rs.79.10 |
|
Euro |
1 |
Rs.66.17 |
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 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.