MIRA
INFORM REPORT
|
Report Date : |
26.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
KUONI TRAVEL (INDIA) PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
SOTC HOLDING TOURS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8th Floor, Tower A, Urmi Estate, 95, Ganpatrao Kadam Marg, Lower
Parel (West), Mumbai – 400013, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
21.12.1992 |
|
|
|
|
Com. Reg. No.: |
11-070074 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 83.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63090MH1992PTC070074 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS0170L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Travel Agents and Tour operators and providing other travel related
services. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “KUONI TRAVEL HOLDING LIMITED, ZURICH”. It is a
well-established company having satisfactory track record. The company possesses an acceptable financial profile marked by
adequate networth base, low gearing sound liquidity profile backed by
sufficient cash balance along with high accrued payables. Management has witnessed a decent revenue profile, whereas has
reported a loss from its operations during the 15 months year ending 2013,
amid stiff competition from organized as well as unorganized players in the
market. The ratings also take into consideration the muted economic growth
which affects the business profile which has been slightly mitigated by the
group’s well diversified, long standing and penetrated presence in different emerging
as well as developed markets. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of well established brand and vast experience of its promoters
the company can be considered 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.
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The prospects
of the India’s economy have been seriously compromised due to political
corruption. High inflation, poor standard of living are to a great extent a
result of rampant corruption in the country. China on the other hand, seems to
be facing diametrically opposite challenge. American hedge fund manager Jim
Chanos has been keenly following the political and economic development in the
dragon economy and has figured out something that is quite worrying. He is of
the view that the Chinese economy could be heading toward trouble on account of
new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Jaiswal |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-66562000 |
|
Date : |
23.08.2014 |
LOCATIONS
|
Registered Office : |
8th Floor, Tower A, Urmi Estate, 95, Ganpatrao Kadam Marg,
Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66562000 |
|
Fax No.: |
91-22-66562009 |
|
E-Mail : |
DIRECTORS
As on: 16.09.2013
|
Name : |
Mr. Rajiv Wagle |
|
Designation : |
Managing Director |
|
Address : |
501, Little Star, 15th Road, Ramkrishna Mission Road,
Santacruz (West), Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
16.11.1960 |
|
Date of Appointment : |
07.08.2012 |
|
DIN No.: |
00396962 |
|
|
|
|
Name : |
Mr. Zubin Jal Karkaria |
|
Designation : |
Director |
|
Address : |
33 ST Thomas Walk, # 10-06, Singapore - 238113 |
|
Date of Birth/Age : |
21.05.1968 |
|
Date of Appointment : |
25.04.2005 |
|
DIN No.: |
00397088 |
|
|
|
|
Name : |
Stefan Roland Leser |
|
Designation : |
Director |
|
Address : |
Schweigwiesstrasse 1C, Feusisberg, Switzerland - 8835 |
|
Date of Birth/Age : |
16.02.1967 |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
02848523 |
|
|
|
|
Name : |
Mr. Peter Meier |
|
Designation : |
Director |
|
Address : |
Helmweg 22, Winterthur, Switzerland - 8405 |
|
Date of Birth/Age : |
20.05.1965 |
|
Date of Appointment : |
01.03.2011 |
|
DIN No.: |
03422012 |
|
|
|
|
Name : |
Rolf Edwin Schafroth |
|
Designation : |
Director |
|
Address : |
Sonnhalde 23 Gachnang, Switzerland - 8547 |
|
Date of Birth/Age : |
14.06.1965 |
|
Date of Appointment : |
15.04.2010 |
|
DIN No.: |
03018976 |
KEY EXECUTIVES
|
Name : |
Mr. Vikash Lalani |
|
Designation : |
Secretary |
|
Address : |
B-701, Pratap House, shivaji Nagar, Shivaji Nagar, Vakola, Santacruz
(East), Mumbai – 400055, Maharashtra, India |
|
Date of Birth/Age : |
17.04.1988 |
|
Date of Appointment : |
01.02.2012 |
|
PAN No.: |
ADLPL5533B |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 16.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Kuoni Asian Investment (Mauritius) Limited, Mauritius |
|
7981330 |
|
Kuoni Travel Holding Limited, Switzerland |
|
41720 |
|
|
|
|
|
Total |
|
8023050 |
Equity Share Break up (Percentage of Total Equity)
As on: 16.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
%20PRIVATE%20LIMITED%20-%20282843_MIRA%2026-Aug-2014_files/image002.gif)
BUSINESS DETAILS
|
Line of Business : |
Travel Agents and Tour operators and providing other travel related
services. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Deutsche Bank AG, Hazarimal Somani Marg, Fort, Mumbai -
400001, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Company Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo, Mills Compound, N M Joshi Marg, Mahalaxmi, Mumbai – 400011, Maharashtra, India |
|
PAN No.: |
AAAFB9852F |
|
|
|
|
Ultimate Holding Company: |
Kuoni Travel Holding Limited, Zurich |
|
|
|
|
Fellow Subsidiary
company: |
· Voyages Kuoni SA, Paris · Kuoni Reisen AG, Zurich · Kuoni Travel Limited, United Kingdom · Kuoni Scandinavia, Sweden · UTE Megapolus Group Company Limited, Russia · Kuoni Business Travel India Private Limited · Allied Tpro Inc., New York · VFS Global Services Private Limited · Kuoni Private Safaris (Pty) Limited, (Cape Town) · KIT Solution AG, Zurich |
|
|
|
|
Subsidiary company: |
· Distant Frontiers Tours Private Limited · Sita World Travel (Nepal) Private Limited · SITA Destination Management Private Limited · SITA Holidays Resorts Private Limited · SITA Incoming (India) Private Limited · KAT Management Consulting (Shanghai) Company Limited |
CAPITAL STRUCTURE
As on: 16.09.2013
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 |
|
|
|
|
|
|
8023050 |
Equity Shares |
Rs.10/- each |
Rs. 80.230
Millions |
|
|
|
|
|
As on: 31.03.2013
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 |
|
|
|
|
|
|
8350000 |
Equity Shares |
Rs.10/- each |
Rs. 83.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.12.2011 (15 Months) |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
83.500 |
83.500 |
|
(b) Reserves & Surplus |
|
611.535 |
892.027 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
695.035 |
975.527 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
82.394 |
8.873 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
9.169 |
12.762 |
|
Total Non-current
Liabilities (3) |
|
91.563 |
21.635 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
7.000 |
2.555 |
|
(b)
Trade payables |
|
2154.907 |
1741.776 |
|
(c)
Other current liabilities |
|
1072.542 |
718.471 |
|
(d) Short-term
provisions |
|
76.998 |
40.458 |
|
Total Current
Liabilities (4) |
|
3311.447 |
2503.260 |
|
|
|
|
|
|
TOTAL |
|
4098.045 |
3500.422 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
163.340 |
151.709 |
|
(ii)
Intangible Assets |
|
51.194 |
14.104 |
|
(iii)
Capital work-in-progress |
|
0.000 |
12.408 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
205.785 |
241.607 |
|
(c) Deferred tax
assets (net) |
|
104.593 |
94.380 |
|
(d) Long-term Loan and Advances |
|
294.013 |
433.801 |
|
(e) Other
Non-current assets |
|
1.921 |
1.921 |
|
Total Non-Current
Assets |
|
820.846 |
949.930 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c)
Trade receivables |
|
639.129 |
531.025 |
|
(d) Cash
and cash equivalents |
|
1327.293 |
714.399 |
|
(e)
Short-term loans and advances |
|
1298.151 |
1303.772 |
|
(f)
Other current assets |
|
12.626 |
1.296 |
|
Total
Current Assets |
|
3277.199 |
2550.492 |
|
|
|
|
|
|
TOTAL |
|
4098.045 |
3500.422 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 (12 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
83.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
855.140 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
938.640 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
938.640 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
166.062 |
|
|
Capital work-in-progress |
|
|
0.789 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
251.607 |
|
|
DEFERREX TAX ASSETS |
|
|
79.141 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
384.899
|
|
|
Cash & Bank Balances |
|
|
869.968
|
|
|
Other Current Assets |
|
|
0.004
|
|
|
Loans & Advances |
|
|
1434.481
|
|
Total
Current Assets |
|
|
2689.352
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
1714.680
|
|
|
Other Current Liabilities |
|
|
516.310
|
|
|
Provisions |
|
|
17.321
|
|
Total
Current Liabilities |
|
|
2248.311
|
|
|
Net Current Assets |
|
|
441.041
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
938.640 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.12.2011 (15 Months) |
31.12.2010 (12 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales and Services |
1487.830 |
1110.780 |
1370.570 |
|
|
|
Other Operating Income |
604.060 |
495.390 |
0.000 |
|
|
|
Other Income |
90.370 |
92.390 |
198.470 |
|
|
|
TOTAL |
2182.260 |
1698.560 |
1569.040 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
2465.930 |
1644.980 |
1442.930 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
(283.670) |
53.580 |
126.110 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(11.530) |
16.690 |
11.64 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
(272.140) |
36.890 |
137.750 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
631.570 |
493.820 |
|
|
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
NA |
NA |
631.570 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(33.91) |
4.42 |
16.50 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.12.2011 (15 Months) |
31.12.2010 (12 Months) |
|
PAT / Total Income |
(%) |
(12.47) |
2.17 |
8.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(19.07) |
4.82 |
9.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.49) |
1.70 |
4.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.41) |
0.05 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.01 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
1.02 |
1.20 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
83.500 |
83.500 |
|
Reserves & Surplus |
892.027 |
611.535 |
|
Net worth |
975.527 |
695.035 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
2.555 |
7.000 |
|
Total borrowings |
2.555 |
7.000 |
|
Debt/Equity ratio |
0.003 |
0.010 |
%20PRIVATE%20LIMITED%20-%20282843_MIRA%2026-Aug-2014_files/image004.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.12.2010 |
31.12.2011 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1370.570 |
1110.780 |
1487.830 |
|
|
|
(18.955) |
33.945 |
%20PRIVATE%20LIMITED%20-%20282843_MIRA%2026-Aug-2014_files/image006.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.12.2010 |
31.12.2011 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
1370.570 |
1110.780 |
1487.830 |
|
Profit |
137.750 |
36.890 |
(272.140) |
|
|
10.05% |
3.32% |
(18.29)% |
%20PRIVATE%20LIMITED%20-%20282843_MIRA%2026-Aug-2014_files/image008.gif)
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG TERM DEBT: NOT AVAILABLE
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
No |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.12.2011 |
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits |
7.000 |
0.000 |
|
|
|
|
|
Total |
7.000 |
0.000 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10087058 |
15/07/2011 * |
680,000,000.00 |
DEUTSCHE BANK AG
|
HAZARIMAL SOMANI
MARG, FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
B16713802 |
* Date of charge modification
FIXED ASSETS
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipment’s
PRESS RELEASE
KUONI INDIA LAUNCHES
NEW BRAND FOR MAINSTREAM HOLIDAY BUSINESS
Kuoni India now have a new logo for their mainstream holiday business. Along with the refreshed architecture, there also emerges a perceptible shift in positioning with the new tagline, ‘We are for holidays’. The brand seeks to inspire consumers across segments to take more holidays by promoting holidays as a priority for everyone.
The new visual image includes a new logo, a revised picture style and a uniform
message for all creatives. These different elements work together to create a
brand. The new image differentiates the company and makes it relevant to
consumers across travel segments.
Vishal Suri, deputy COO -Tour Operating, Kuoni India says that the whole
creative process identified single branding strategy as the ideal approach to
inspire a wide cross section of explorers. A new visual image was then developed
to change the mindset of Indian holidaymakers by encouraging them to make
holiday a priority. In addition, all Kuoni India employees are being
intensively schooled in the new image and the substance behind the brand so
that the whole company is prepared for the transformation. The new architecture
embodies the Goodness and Approachability of ‘SOTC’ and the Global expertise
and Explorer imagery of ‘KUONI’.
“It is an absolute necessity for a travel company catering to multiple segments
across sectors to skillfully communicate a consistent message to all the
stakeholders. Our new identity is a culmination of intensive brand audit and
research profiling based on the interview of substantial respondents across
travel spectrum. Holidays are still perceived as luxury in India and are not
regarded as a priority. This campaign seeks to lower the guilt associated with
taking holidays by encouraging Indians to view holidays as a necessity. This
process has enabled us to reiterate and maintain our status as the leading
travel company enabling travelers to gain magical, memorable experiences by
turning their dream for a holiday into a dream holiday,” Suri added.
The new architecture and strategy has been developed with support from the
creative agency TBWA. Shiv Sethuraman, CEO, TBWA India Group said, “The
objective of the new identity, the positioning and the resultant campaign is to
exhort people to believe that taking a holiday is a priority. We Indians are an
extremely hard working lot and sometimes we all feel that by taking those few
days off we are letting down our organisations, colleagues, bosses and
partners. Kuoni and SOTC by virtue of their unique leadership positions,
globally and locally, are best poised to grow the holiday market by encouraging
people to take more holidays.”
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 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. 60.42 |
|
|
1 |
Rs. 100.11 |
|
Euro |
1 |
Rs. 79.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared by
: |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
|
46 |
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.