MIRA
INFORM REPORT
|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMSON MARITIME LIMITED |
|
|
|
|
Registered
Office : |
7, MB P T Building, Malet Bunder, Mumbai – 400009, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.09.1994 |
|
|
|
|
Com. Reg. No.: |
11-081331 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.102.964 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U35112MH1994PLC081331 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS20586G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS9177M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Providing Offshore and Ship Management Services. |
|
|
|
|
No. of Employees
: |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9500000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a good track record. The
financials of 2012 are not available. As per the of 2011, the financial position
of the company appeared sound and healthy. Trade relations are reported as
decent. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for business dealings at usual
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A+ (Long Term Bank Facilities) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
March 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1 (Short Term Bank Facilities) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
March 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
7, MB P T Building, Malet Bunder, Mumbai – 400009, Maharashtra, India |
|
Tel. No.: |
91-22-23739500/ 23730545 |
|
Fax No.: |
91-22-23739310 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 27.09.2012
|
Name : |
Mr. Suresh Anant Samant |
|
Designation : |
Director |
|
Address : |
Carmichael House, Carmichael Road, Mumbai-400026, Maharashtra, India |
|
Date of Birth/Age : |
24.10.1933 |
|
Qualification: |
B. Sc (Hon) |
|
Date of Appointment : |
01.04.2011 |
|
DIN No.: |
00114890 |
|
|
|
|
Name : |
Mr. Mohan Bhalchandra Samant |
|
Designation : |
Director |
|
Address : |
Pratiksha 7A, Worli Sea Face, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
15.10.1941 |
|
Qualification: |
Ex Merchant Marine Officer |
|
Date of Appointment : |
21.09.1994 |
|
DIN No.: |
00114991 |
|
|
|
|
Name : |
Mr. Bharat Suresh Samant |
|
Designation : |
Director |
|
Address : |
Rusi House, Darabshaw Lane, Off Nepeansea Road, Mumbai-400018,
Maharashtra, India |
|
Date of Birth/Age : |
07.12.1964 |
|
Qualification: |
B.Sc (Electrical Engg), MCS, MSC in Management |
|
Date of Appointment : |
21.09.1994 |
|
DIN No.: |
00116263 |
|
|
|
|
Name : |
Mr. Ashwin Mohan Samant |
|
Designation : |
Whole Time Director |
|
Address : |
Pratiksha 7A, Worli Sea Face, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
19.09.1976 |
|
Qualification: |
B.Sc (Mfg Engg), (Indl Engg and Mgt Sc) |
|
Date of Appointment : |
06.09.2008 |
|
DIN No.: |
02315815 |
|
|
|
|
Name : |
Mr. Homi Rustam Khusrokhan |
|
Designation : |
Director |
|
Address : |
No. 10, Mayfair House, 4th Floor, Little Gibbs Road,
Malabar Hill, Mumbai-400006, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1943 |
|
Date of Appointment : |
29.04.2009 |
|
DIN No.: |
00005085 |
|
|
|
|
Name : |
Mr. Suresh Narsappa Talwar |
|
Designation : |
Director |
|
Address : |
10, Shiv Shanti Bhavan, 146, Maharshi Karve Road, Churchgate
Reclamation, Mumbai – 400020, India |
|
Date of Birth/Age : |
21.11.1938 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
00001456 |
|
|
|
|
Name : |
Mr. Dhananjay Narendra Mungale |
|
Designation : |
Director |
|
Address : |
08/A, Ameya Apartments, Near Kirti College, Off Dhuru Road, Prabhadevi,
Mumbai – 400028, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1953 |
|
Date of Appointment : |
26.11.2010 |
|
DIN No.: |
00007563 |
|
|
|
|
Name : |
Mr. Siddharth Pradip Kothari |
|
Designation : |
Nominee Director |
|
Address : |
6/601, Panchseel Building, C Road, Churchgate, Mumbai – 400020,
Maharashtra, India |
|
Date of Birth/Age : |
24.04.1976 |
|
Date of Appointment : |
11.09.2012 |
|
DIN No.: |
02594732 |
KEY EXECUTIVES
|
Name : |
Mr. Kunal Trivedi |
|
Designation : |
Company Secretary |
|
Address : |
A/12, Blue Diamond, Gill Bert Hill Road, Andheri (West), Mumbai –
400058, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1981 |
|
Qualification : |
15.02.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 27.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Suresh Anant Samant, Carmichael House, Carmichael Road, Mumbai-400026,
Maharashtra, India |
|
1237334 |
|
Mohan Bhalchandra Samant, Pratiksha 7A, Worli Sea Face, Mumbai-400025,
Maharashtra, India |
|
924304 |
|
Sulabha Suresh Samant, Carmichael House, Carmichael Road,
Mumbai-400026, Maharashtra, India |
|
787050 |
|
Bharat Suresh Samant, Rusi House, Darabshaw Lane, Off Nepeansea Road,
Mumbai-400018, Maharashtra, India |
|
1795570 |
|
Rajeev Suresh Samant, Carmichael House, Carmichael Road,
Mumbai-400026, Maharashtra, India |
|
100 |
|
Mohan Bhalchandra Samant HUF, Pratiksha 7A, Worli Sea Face,
Mumbai-400025, Maharashtra, India |
|
3235550 |
|
Suresh Anant Samant HUF, Carmichael House, Carmichael Road,
Mumbai-400026, Maharashtra, India |
|
346000 |
|
Ashwin Mohan Samant, Carmichael House, Carmichael Road, Mumbai-400026,
Maharashtra, India |
|
3100 |
|
Ruta Mohan Samant, Carmichael House, Carmichael Road, Mumbai-400026,
Maharashtra, India |
|
3100 |
|
JM Financial Trustee Company Private Limited, 141, Maker Chambers III,
Nariman Point, Mumbai – 400021, Maharashtra, India |
|
1208791 |
|
International Finance Corporation, 2121 Pennysylvania Avenue, N.W.
Washington D.C. 20433, United States of America |
|
755476 |
|
|
|
|
|
Total |
|
10296375 |
Equity Share Break up (Percentage of Total Equity)
As on: 27.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
7.34 |
|
Bodies corporate |
|
11.74 |
|
Directors or relatives of directors |
|
80.92 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Offshore and Ship Management Services. |
GENERAL INFORMATION
|
Customers : |
· Indian Oil Corporation Limited · Oil And Natural Gas Corporation Limited · Reliance Industries Limited · Reliance Ports and Terminals Limited · RASGAS (Through Stanford Marine) · BG Exploration and Production (India) Limited · The Shipping Corporation of India Limited · Bharat Oman Refineries Limited · HPCL-Mittal Pipelines Limited · NPCC · Larsen and Toubro Limited ·
CGG Veritas (Thru’ General Offshore) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
Not Available [We tried to
confirm the number of employees but no one is ready to part any information
from the company management] |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
42, Free Press House, 215, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
PAN No.: |
AAAFH2010F |
|
|
|
|
Subsidiary Company
: |
· Underwater Services Company Limited CIN No.: U45200MH2008PLC185622 · Global Samson Offshore (Singapore) Pte Limited |
|
|
|
|
Significant
Influence of Directors : |
Thalassa Ship Management Limited |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10296375 |
Equity Shares |
Rs.10/- each |
Rs.102.964 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
102.964 |
102.964 |
99.384 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2293.652 |
1846.345 |
1728.906 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2396.616 |
1949.309 |
1828.290 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2908.268 |
3163.926 |
1192.186 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
8.000 |
|
|
TOTAL BORROWING |
2908.268 |
3163.926 |
1200.186 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
45.044 |
|
|
|
|
|
|
|
|
TOTAL |
5304.884 |
5113.235 |
3073.520 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4444.503 |
3541.186 |
1623.580 |
|
|
Capital work-in-progress |
24.919 |
15.372 |
25.964 |
|
|
|
|
|
|
|
|
INVESTMENT |
40.038 |
40.038 |
40.052 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
23.515
|
4.266
|
0.326
|
|
|
Sundry Debtors |
363.987
|
305.342
|
259.695
|
|
|
Cash & Bank Balances |
583.128
|
1333.632
|
1074.138
|
|
|
Other Current Assets |
125.323
|
226.608
|
0.000
|
|
|
Loans & Advances |
28.008
|
31.060
|
207.443
|
|
Total
Current Assets |
1123.961
|
1900.908
|
1541.602 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
104.409
|
123.319
|
55.024
|
|
|
Other Current Liabilities |
67.451
|
83.089
|
34.182
|
|
|
Provisions |
156.677
|
177.861
|
68.472
|
|
Total
Current Liabilities |
328.537
|
384.269
|
157.678
|
|
|
Net Current Assets |
795.424
|
1516.639
|
1383.924
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5304.884 |
5113.235 |
3073.520 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1764.786 |
1213.703 |
1223.556 |
|
|
|
Other Income |
54.230 |
76.839 |
79.160 |
|
|
|
TOTAL (A) |
1819.016 |
1290.542 |
1302.716 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing service costs |
702.792 |
|
|
|
|
|
Employee related expenses |
142.957 |
119.678 |
|
|
|
|
Administrative selling other expenses |
89.177 |
107.020 |
|
|
|
|
Prior period items |
7.338 |
0.000 |
|
|
|
|
TOTAL (B) |
942.264 |
833.220 |
522.232 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
876.752 |
457.322 |
780.484 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
174.038 |
109.974 |
98.460 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
702.714 |
347.348 |
682.024 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
254.926 |
144.802 |
120.743 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
447.788 |
202.546 |
561.281 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
28.769 |
40.783 |
27.084 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
419.019 |
161.763 |
534.197 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
774.014 |
671.318 |
241.121 |
|
|
|
|
|
|
|
|
|
Add |
Transferred from
Ship Acquisition Utilisation Reserve |
38.400 |
14.000 |
11.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transferred to Tonnage Tax Reserve |
100.000 |
45.000 |
115.000 |
|
|
|
Transferred to General Reserve |
0.000 |
10.000 |
0.000 |
|
|
|
Interim Dividend |
0.000 |
15.445 |
0.000 |
|
|
|
Corporate Interim Dividend Tax |
0.000 |
2.625 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1131.433 |
774.014 |
671.318 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
40.70 |
16.00 |
58.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
23.04 |
12.53 |
41.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
25.37 |
16.69 |
45.87 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.04 |
3.72 |
17.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.10 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.21 |
1.62 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.42 |
4.95 |
9.78 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10412284 |
14/03/2013 |
200,000,000.00 |
Kotak Mahindra Bank Limited |
36-38a, Nariman Bhavan, 227,D, Nariman Point,, M |
B70945159 |
|
2 |
10366003 |
17/07/2012 |
785,000,000.00 |
The Saraswat Cooperative Bank Limited |
SME Nariman Point Branch, Mittal Court A Wing, 1st |
B43888528 |
|
3 |
10352986 |
25/04/2012 |
357,750,000.00 |
Standard Chartered Bank |
SME Credit, Crescenzo, 3A/F, Plot No. C-38 and 39, |
B38694832 |
|
4 |
10295030 |
23/01/2013 * |
300,000,000.00 |
Standard Chartered Bank |
Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Ban |
B67187120 |
|
5 |
10288199 |
16/05/2011 |
170,000,000.00 |
The Saraswat Co-operative Bank Limited |
SME Nariman Point Branch, Mittal Court A Wing, 1st |
B13466503 |
|
6 |
10230783 |
22/03/2013 * |
705,000,000.00 |
Standard Chartered Bank |
90, M G Road, Fort, Mumbai, Maharashtra - 400001 |
B71740526 |
|
7 |
10213575 |
17/03/2010 |
125,000,000.00 |
International Finance Corporation |
2121, Pennsylvania Avenue, N.M., Washington D.C. |
A83544031 |
|
8 |
10207595 |
29/12/2009 |
1,200,000,000.00 |
International Finance Corporation |
2121, Pennsylvania Avenue, N.M., Washington D.C. |
A76383256 |
|
9 |
10184221 |
10/11/2009 |
300,000,000.00 |
DBS Bank Limited |
3rd Floor, Fort House, 221, Dr. D.N. Road, Fort, |
A72685670 |
|
10 |
10169222 |
21/06/2011 * |
650,000,000.00 |
Standard Chartered Bank |
Crescenzo, 3A/F, Plot No. C-38 and 39, G Block, Ban |
B18488593 |
FINANCIAL PERFORMANCE
During the financial ended 2011, the Company recorded a total income of Rs. 1819.000 Millions (previous year Rs. 1290.500 Millions), and a profit after tax of Rs. 419.000 Millions (previous year Rs. 161.800 Millions). The profit before interest and financial charges, depreciation and tax has increased by 93.32% to Rs.884.089 Millions as against Rs. 457.324 Millions in the previous year.
The increase in profit was attributable to the increased revenue due to the addition of large offshore vessels, coupled with a conscious effort on the part of the management to reduce operating expenses of the fleet, without comprising safety or quality.
The revenue increase started in the first quarter of the year, where the Company commenced long term charter for two new-built PSVs delivered in the previous year. In the third quarter, the company secured a long term charter with a reputed, international oil and gas major for one of its larger PSVs, thereby ensuring that all PSVs were on long term charters.
FIXED ASSETS:
- Buildings
Premises
- Ships
- Plant and
Machinery
- Office
Equipments
- Furniture and
Fixtures
- Vehicle
- Computers
AS PER WEBSITE DETAILS
MILESTONES
21.09.1994: Formation of the Company
by amalgamating three private limited ship-owning companies
1995 to 2005 : Built up fleet. Acquired
various Ocean Going Tugs, Offshore Vessels and Utility Vessels.
30.01.2006: Acquired 8000 BHP 96 T Bollard Pull Anchor
Handling Tug Supply vessel – the largest and the most powerful vessel in
Samson’s history.
23.02.2007: Received ‘Notice of
Award’ from ONGC for charter of first newly-built PSV for a firm period of 5
years.
11.02.2008: Received ISO-9001:2000 Quality
Management Sytem certification from Det Norske Veritas.
2008 : Private Equity Investment in the company by
two reputed P.E. investors.
24.08.2009: Received ISO-14001:2004
Environmental Management System certification from Det Norske Veritas.
2009-2011 : Expanded fleet with
addition of several brand new, state of the art offshore vessels, including DP1
and DP2 vessels.
2012-2013 : Fleet expansion
continues, several old vessels replaced by new vessels.
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.59.45 |
|
|
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.44 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
51 |
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.