MIRA
INFORM REPORT
|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAMCO INDIA PRIVATE LIMITED (W.e.f. 21.07.2009) |
|
|
|
|
Formerly Known
As : |
APM GLOBAL LOGISTICS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
13th Floor, Tower A, Urmi Estate, Ganpatrao Kadam Marg,
Lower Parel (West), |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.12.2012 |
|
|
|
|
Date of
Incorporation : |
20.03.2009 |
|
|
|
|
Com. Reg. No.: |
11-191085 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.10.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63000MH2009FTC191085 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA34816F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAHCA6078Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Providers of freight forwarding and supply chain management services. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a subsidiary of APM GLOBAL LOGISTICS NETHERLANDS B.V. It is
an established company having satisfactory track record. The company has achieved fair profitability from its operational
activities during the financial year 2012. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry
retained its status as the favourable venture capital investors in 2013.
Pakistan has temporarily banned gold imports for the second time in six months,
as it tries to stem smuggling into India. India’s import duty on gold is 10 %
and curbs on purchases have dried up legal imports into what used to be the
world’s biggest bullion buyers. The World Gold Council puts the amount smuggled
into India at upto 200 tonnes in 2013. The Reserve Bank of India has proposed
that unclaimed bank deposits estimated to be about Rs 35000 mn be used for
education and awareness among depositors. According to the plan, deposits
that have not been claimed for at least 10 years will be transferred to the
scheme.
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.
INFORMATION DECLINED BY
|
Name : |
Mr. Tushar Trivedi |
|
Designation : |
Chief Finances Officer |
|
Contact No.: |
91-22-33088306 |
|
Date : |
28.02.2014 |
LOCATIONS
|
Registered Office : |
13th Floor, Tower A, Urmi Estate, Ganpatrao Kadam Marg,
Lower Parel (West), |
|
Tel. No.: |
91-22-33088200 |
|
Fax No.: |
91-22-33088222 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Located At · Ahmedabad · Bangalore · Bhubaneswar · Chennai · Gurgaon · Hyderabad · Jaipur · Jodhpur · Kandla · Kochi · Kolkata · Ludhiana · Mangalore · Mumbai · Nashik · Pune · Rajkot · Tuticorin · Baroda · Veraval · Visakhapatnam |
DIRECTORS
As on 29.06.2013
|
Name : |
Mr. Lars Ostergard Sorensen |
|
Designation : |
Director |
|
Address : |
Flat No.3, The Jackers, 113, Carteer Road, Bandra (West), Mumbai –
400050, Maharashtra, India |
|
Date of Birth/Age : |
11.01.1965 |
|
Date of Appointment : |
20.03.2009 |
|
DIN No.: |
00189466 |
|
|
|
|
Name : |
Mr. Jesper Cyril Jorgensen |
|
Designation : |
Director |
|
Address : |
1001, 10th Floor, Supreme Serenity, Plot No. 472, CTS No. E/169,
Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
13.12.1974 |
|
Date of Appointment : |
20.03.2009 |
|
DIN No.: |
02329925 |
KEY EXECUTIVES
|
Name : |
Mr. Tushar Trivedi |
|
Designation : |
Chief Finances Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
APM Global Logistics Netherlands BV, The Netherlands |
|
999980 |
|
Jesper Cyril Jorgensen |
|
20 |
|
Total |
|
1000000 |
As on 29.06.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
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 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providers of freight forwarding and supply chain
management services. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
BSR and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N.M. Joshi Marg,
Mahalakshmi, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-39896000 |
|
Fax No.: |
91-22-39836000 |
|
PAN No.: |
AAIFB7355D |
|
|
|
|
Fellow Subsidiaries
: |
· Maersk Logistics Hong Kong Limited · Maersk Logistics Croatia Doo · APM Global Logistics Hungary KFT · Maersk Logistics Indones. · Maersk Logistics Ireland Limited · Maersk Logistics Israel Limited · APM Terminal India Private Limited · Maersk Logistics India Private Limited · Maersk India - Concorde · APM Global Logistics Hungary KFT · Maersk Logistics Indones. · Maersk Logistics Ireland Limited · Maersk Logistics Israel Limited · Maersk India Private Limited · Maersk Logistics India Private Limited · Maersk India - Concorde · Safmarine India Limited · Octopus Projects Shipping Private Limited · Express Repair Services Private Limited · Star Track Terminals · Gateway Terminals India Private Limited · APM Global Logistics India Private Limited · Brigantine Admec Container Services (Ind) · Maersk Logistics Italia Srl · Maersk Jordan · Maersk Logistics Japan KK · Maersk Logistics Kenya Limited · APM Global Logistics Korea Limited · Maersk Logistics Kuwait Co WLL · Maersk Lebanon SARL · Maersk Lanka Private Limited · Maersk Logistics Lanka Private · DSL Star Express Inc. · Maersk Logistics Peru SA · Maersk Logistics Filip. · Maersk Logistics Pakistan Private Limited · Maersk Logistics Polska sp. z o.o. · Damco Logistics Portugal Lda · Maersk Qatar Maritime Services · Maersk Romania Srl · Maersk Logistics Romania Srl · FUTE Maersk Agency (Belarus) · Mercantile Distribution South Africa Pty · Maersk Logistics Russia · APM Global Logistics Russia Limited · Mercantile Shipping Agencies L · APM Global Logistics Sverige AB · Maersk Logistics Singapore Pte Limited · MAERSK Logistics DOO · Safmarine Container Lines NV · Maersk Logistics South Africa · Safmarine (Pty) Limited (Cape Town) · Maersk Senegal SA · Maersk Senegal SA (XOF) · Maersk Infotech Services I. Private Limited · Maersk Logistics USA Inc. · Maersk Togo SA · Maersk Logistics Togo SA · Maersk Logistics Thailand · Mercan TILE A.S. · Maersk Logistics Taiwan Limited · Maersk Logistics Tanzania Limited · MEE A/S · Damco Ukraine Limited · Maersk Uganda Limited · Maersk Logistics Venezuela SA · Maersk Logistics Singapore – Vietnam ·
Maersk Vietnam Limited |
CAPITAL STRUCTURE
As on 29.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.12.2012 |
31.12.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
10.000 |
10.000 |
|
(b) Reserves & Surplus |
|
456.087 |
309.595 |
|
(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) |
|
466.087 |
319.595 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
7.488 |
3.906 |
|
Total Non-current Liabilities (3) |
|
7.488 |
3.906 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
520.000 |
72.500 |
|
(b) Trade payables |
|
1515.359 |
1115.692 |
|
(c) Other current
liabilities |
|
403.144 |
247.380 |
|
(d) Short-term provisions |
|
22.727 |
22.558 |
|
Total Current Liabilities (4) |
|
2461.230 |
1458.130 |
|
|
|
|
|
|
TOTAL |
|
2934.805 |
1781.631 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
102.499 |
6.291 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.051 |
8.197 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
49.686 |
47.608 |
|
(d) Long-term Loan and Advances |
|
224.633 |
181.749 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
376.869 |
243.845 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
1749.269 |
959.802 |
|
(d) Cash and cash
equivalents |
|
179.941 |
223.372 |
|
(e) Short-term loans and
advances |
|
134.823 |
105.610 |
|
(f) Other current assets |
|
493.903 |
249.002 |
|
Total Current Assets |
|
2557.936 |
1537.786 |
|
|
|
|
|
|
TOTAL |
|
2934.805 |
1781.631 |
|
SOURCES OF FUNDS |
|
|
31.12.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
165.985 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
166.485 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
67.425 |
|
|
TOTAL BORROWING |
|
|
67.425 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
233.910 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
8.814 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
18.228 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000
|
|
|
Sundry Debtors |
|
|
454.601
|
|
|
Cash & Bank Balances |
|
|
176.356
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
132.249
|
|
Total
Current Assets |
|
|
763.206
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
529.445
|
|
|
Other Current Liabilities |
|
|
6.661
|
|
|
Provisions |
|
|
20.232
|
|
Total
Current Liabilities |
|
|
556.338
|
|
|
Net Current Assets |
|
|
206.868
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
233.910 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Freight Charges |
6549.506 |
4769.987 |
4830.982 |
|
|
|
Terminal Handling and Other Collections |
2871.850 |
2063.023 |
|
|
|
|
Other Income |
3.342 |
3.192 |
4.000 |
|
|
|
TOTAL (A) |
9424.698 |
6836.202 |
4834.982 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
|
|
3998.508 |
|
|
|
Employee Cost |
9186.002 |
6598.089 |
295.628 |
|
|
|
Administration and other Expenses |
|
|
307.951 |
|
|
|
TOTAL (B) |
9186.002 |
6598.089 |
4602.087 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
238.696 |
238.113 |
232.895 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
13.789 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
238.696 |
238.113 |
219.106 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.282 |
9.384 |
6.923 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
214.414 |
228.729 |
212.183 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
67.922 |
75.620 |
73.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
146.492 |
153.109 |
139.183 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
309.594 |
165.985 |
26.802 |
|
|
|
|
|
|
|
|
|
|
Appropriations
Towards Bonus Shares |
0.000 |
(9.500) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
456.086 |
309.594 |
165.985 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Freight charges |
660.920 |
540.883 |
417.762 |
|
|
TOTAL EARNINGS |
660.920 |
540.883 |
417.762 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
146.49 |
212.98 |
2783.66 |
|
KEY RATIOS
|
PARTICULARS |
|
31.12.2012 |
31.12.2011 |
31.12.2010 |
|
PAT / Total Income |
(%) |
|
|
2.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.27 |
4.80 |
4.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.43 |
13.25 |
27.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.46 |
0.72 |
1.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.12 |
0.23 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.04 |
1.05 |
1.37 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
10.000 |
10.000 |
|
Reserves & Surplus |
309.595 |
456.087 |
|
Net
worth |
319.595 |
466.087 |
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
|
Short term borrowings |
72.500 |
520.000 |
|
Total
borrowings |
72.500 |
520.000 |
|
Debt/Equity
ratio |
0.227 |
1.116 |
|
|
|
|
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9421.356 |
6833.010 |
4830.982 |
|
|
|
(27.473) |
(29.299) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2010 |
31.12.2011 |
31.12.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
9421.356 |
6833.010 |
4830.982 |
|
Profit |
139.183 |
153.109 |
146.492 |
|
|
1.48% |
2.24% |
3.03% |
LOCAL AGENCY FURTHER INFORMATION
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 |
Yes |
|
23] |
Banking Details |
No |
|
24] |
Banking facility details |
No |
|
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 |
|
LITIGATION DETAILS |
|||||||
|
Bench:- Bombay |
|||||||
|
Lodging No. : |
ADMSL/3359/2010 |
Failing Date:- |
26/11/2010 |
Reg. No.:- |
ADMS/13/2011 |
Reg. Date:- |
29/03/2011 |
|
|
|||||||
|
Petitioner:- |
CETHAR LIMITED |
Respondent:- |
DAMCO INDIA PRIVATE LIMITED |
||||
|
Petn.Adv:- |
BRUS CHAMBERS (0) |
Resp. Adv.: |
Prakash D. Goriya (2) (0) |
||||
|
District:- |
OUTSIDE MAHARASHTRA |
||||||
|
|
|||||||
|
Bench:- |
SINGLE |
Category:- |
ADMIRALTY SUITS. |
||||
|
Status:- |
Pre-Admission |
Stage:- |
For Acceptance |
||||
|
Last Date:- |
11/02/2014 |
|
|||||
|
Last Coram:- |
|
||||||
|
|
|
||||||
|
Act. : |
Code of civil Procedure 1908 |
|
|||||
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.12.2012 |
As
on 31.12.2011 |
|
Short Term
Borrowings |
|
|
|
Term loans from banks |
270.000 |
55.000 |
|
Loans and advances from related parties |
250.000 |
17.500 |
|
Total |
520.000 |
72.500 |
Note:
The registered office of the company has been shifted from
Empire Industries Complex, 414, Senapati Bapat Marg, Lower Parel Mumbai –
400013, Maharashtra, India to present address w.e.f. 23.10.2002
COMPANY OVERVIEW
Subject port of the A.P Moller Maersk group, was incorporated on 20 March 2009 as APM Global Logistics India Private Limited The Company acquired the 'Logistics division' of Maersk India Private Limited by way of a business transfer agreement effective 1 May 2009 {refer schedule 19(17)]. On 21 July 2009, APM Global Logistics India Private Limited was remained as subject. The Company is engaged in the logistics business.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS
·
Motor Vehicle
·
Data Processing Equipment
·
Office Equipments
·
Furniture and Fixtures
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.61.94 |
|
|
1 |
Rs.103.31 |
|
Euro |
1 |
Rs.85.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
NO |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
47 |
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.