MIRA
INFORM REPORT
|
Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOURISM CORPORATION OF GUJARAT LIMITED |
|
|
|
|
Registered
Office : |
Block No.-17, 4th Floor, Udyog Bhavan, Sector-11, Gandhinagar –
382011, |
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|
Country : |
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|
Financials (as
on) : |
31.03.2012 |
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|
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|
Date of
Incorporation : |
10.06.1975 |
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|
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Com. Reg. No.: |
04-002722 |
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|
Capital
Investment / Paid-up Capital : |
Rs.199.991 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63040GJ1975SGC002722 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT7252J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Subject is engaged in Tourism Development Service Industries. |
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|
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (69) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 11980000 |
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|
|
|
Status : |
Good |
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|
Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a Government of Gujarat undertaking corporation established
for promotion and development of tourism sector. It is a well-established company having a fine track record. Management of the company has failed to file its financial for the
year 2013 with the government department. As per available financials (2012), the company has shown a consistent
improvement in the operating performance marked by an increase in the
operating income as well as profitability. Financial and liquidity position
of the company seems to be strong and healthy. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In view of strong support from the government, the subject 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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 DECLINED
Management Non Co-Operative (79-23222496)
LOCATIONS
|
Registered Office/ Head Office : |
Block No.-17, 4th Floor, Udyog Bhavan, Sector-11, Gandhinagar –
382011, Gujarat, India |
|
Tel. No.: |
91-79-23220002/ 23222523 |
|
Fax No.: |
91-79-23238908 |
|
E-Mail : |
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|
Website : |
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Branch Office : |
Located at: · H.K. House, Off Ashram Road, Ahmedabad – 380009, India · Chennai · Mumbai · New Delhi · Jaipur · Kolkatta · Vadodara · Surat · Rajkot · Bhuj · Porbandar · Gandhinagar ·
Nadiyad |
DIRECTORS
AS ON 31.12.2011
|
Name : |
Mr. Kamleshkumar Govindlal Patel |
|
Designation : |
Nominee Director |
|
Address : |
6, Prankunj Society, Kankaria Road, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
29.10.1954 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
27.04.2006 |
|
DIN No.: |
02737232 |
|
|
|
|
Name : |
Mr. Subhash Ishvarbhai Patel |
|
Designation : |
Nominee Director |
|
Address : |
Ashray, Plot No.86, Sector- 19, Gandhinagar, Gujarat, India |
|
Date of Appointment : |
15.12.2006 |
|
DIN No.: |
01675629 |
|
|
|
|
Name : |
Mr. Mayankkumar Jashubhai Patel |
|
Designation : |
Director |
|
Address : |
C/3, Jalalram Plaza, Jawahar Chowk, Maninagar, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
26.05.1958 |
|
Qualification : |
M.A. (History) |
|
Date of Appointment : |
02.03.2009 |
|
DIN No.: |
03560876 |
|
|
|
|
Name : |
Mr. Mandhatasinhji Manoharsinhji Jadeja |
|
Designation : |
Nominee Director |
|
Address : |
Ranjeet Villa Palace, Palace Road, Rajkot – 360001, Gujarat, India |
|
Date of Appointment : |
24.02.2011 |
|
DIN No.: |
00739460 |
|
|
|
|
Name : |
Mr. Sanjay Mool Chand Kaul |
|
Designation : |
Managing Director |
|
Address : |
5C, Royal Palm Apartment, Vazhuthacaud Junction, Thiruvananthapuram -695014, Kerala, India |
|
Date of Birth/Age : |
15.08.1969 |
|
Qualification : |
IAS |
|
Date of Appointment : |
08.02.2011 |
|
DIN No.: |
01260911 |
|
|
|
|
Name : |
Mr. Keshavlal Shivdas Patel |
|
Designation : |
Nominee Director |
|
Address : |
At-Amargadh, Po- Nirona, Taluka-Nakhatrana, District-Kutch, Nakhatrana – 370615, Gujarat, India |
|
Date of Appointment : |
24.02.2011 |
|
DIN No.: |
03560864 |
|
|
|
|
Name : |
Mr. Dinesh Devasibhai Dasa |
|
Designation : |
Nominee Director |
|
Address : |
A/27, Vrundavan, Society, Gandevi Road, Jamalpor, Navasari – 396445, Gujarat, India |
|
Date of Appointment : |
24.02.2011 |
|
DIN No.: |
03560890 |
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|
|
|
Name : |
Mr. Sanjeev Kumar |
|
Designation : |
Nominee Director |
|
Address : |
Collector’s bunglow, KH253, Sector 19, Gandhinagar – 382019, Gujarat, India |
|
Date of Appointment : |
03.10.2011 |
|
DIN No.: |
03600655 |
KEY EXECUTIVES
|
Name : |
Mr. Mukund S. Joshi |
|
Designation : |
Secretary |
|
Date of Appointment : |
06.12.1995 |
|
PAN No.: |
AARPJ9862G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2011
|
Names of Shareholders |
No. of Shares |
|
H.E. The Governor of Gujarat, India |
1999901 |
|
M.A. Bhatt |
1 |
|
M.J. Patel |
1 |
|
B.L. Baria |
1 |
|
D.K. Rathod |
1 |
|
H.S. Patel |
1 |
|
D.K. Patel |
1 |
|
B.V. Dantani |
1 |
|
TOTAL
|
1999908 |
AS ON 31.12.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Government [Central and State] |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Tourism Development Service Industries. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
|
|
|
|
Bankers : |
·
Syndicate Bank ·
State Bank of India ·
Dena Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Saremal and Company Chartered Accountants |
|
Address : |
4, 1st Floor, Prarthana Flat, Opposite Sardar Patel Seva Samaj Hall, Off. C. G. Road, Navrangpura, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26440056 |
|
Fax No.: |
91-79-26464413 |
|
E-Mail : |
|
|
PAN No.: |
AAKFS8981N |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.100/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1999909 |
Equity Shares |
Rs.100/-
each |
Rs. 199.991
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
199.991 |
199.991 |
|
(b) Reserves & Surplus |
|
2671.493 |
1815.757 |
|
(c) Deferred
Government Grants |
|
124.807 |
125.974 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
2996.291 |
2141.722 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
75.026 |
75.026 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
8.276 |
16.552 |
|
(d) long-term provisions |
|
90.880 |
84.112 |
|
Total Non-current Liabilities (3) |
|
174.182 |
175.690 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.000 |
0.000 |
|
(b) Trade payables |
|
0.000 |
0.000 |
|
(c) Other current
liabilities |
|
144.596 |
87.408 |
|
(d) Short-term provisions |
|
85.464 |
31.240 |
|
Total Current Liabilities (4) |
|
230.060 |
118.648 |
|
|
|
|
|
|
TOTAL |
|
3400.533 |
2436.060 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
167.458 |
165.037 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.500 |
5.500 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.171 |
2.217 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
170.129 |
172.754 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
1888.900 |
866.490 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
3.428 |
5.046 |
|
(d) Cash and cash
equivalents |
|
1239.666 |
1314.268 |
|
(e) Short-term loans and
advances |
|
35.617 |
25.632 |
|
(f) Other current assets |
|
62.793 |
51.870 |
|
Total Current Assets |
|
3230.404 |
2263.306 |
|
|
|
|
|
|
TOTAL |
|
3400.533 |
2436.060 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
199.991 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1317.701 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1517.692 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
75.026 |
|
|
TOTAL BORROWING |
|
|
75.026 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1592.718 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
164.859 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
920.141 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
11.514 |
|
|
Cash & Bank Balances |
|
|
575.883 |
|
|
Other Current Assets |
|
|
15.000 |
|
|
Loans & Advances |
|
|
88.150 |
|
Total
Current Assets |
|
|
690.547 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
38.822 |
|
|
Other Current Liabilities |
|
|
37.754 |
|
|
Provisions |
|
|
106.253 |
|
Total
Current Liabilities |
|
|
182.829 |
|
|
Net Current Assets |
|
|
507.718 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1592.718 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
359.989 |
227.639 |
54.922 |
|
|
|
Other Income |
176.275 |
127.195 |
217.503 |
|
|
|
TOTAL |
536.264 |
354.834 |
272.425 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Employee Benefit Expenses |
135.674 |
118.623 |
120.328 |
|
|
|
Other expenses |
43.994 |
51.602 |
92.160 |
|
|
|
Prior period items |
0.000 |
0.000 |
0.312 |
|
|
|
TOTAL |
179.668 |
170.225 |
212.800 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
356.596 |
184.609 |
59.625 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.488 |
9.142 |
8.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
347.108 |
175.467 |
50.743 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
125.709 |
45.046 |
25.028 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
221.399 |
130.421 |
25.715 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
110.70 |
65.21 |
11.58 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
41.29
|
36.76 |
9.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
96.42
|
77.08 |
92.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.21
|
7.22 |
5.93 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12
|
0.08 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03
|
0.04 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
14.04
|
19.08 |
3.78 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
199.991 |
199.991 |
|
Reserves & Surplus |
1815.757 |
2671.493 |
|
Net
worth |
2015.748 |
2871.484 |
|
|
|
|
|
long-term borrowings |
75.026 |
75.026 |
|
Short term borrowings |
0.000 |
0.000 |
|
Total
borrowings |
75.026 |
75.026 |
|
Debt/Equity
ratio |
0.037 |
0.026 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
54.922 |
227.639 |
359.989 |
|
|
|
314.477 |
58.140 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
54.922 |
227.639 |
359.989 |
|
Profit |
25.715 |
130.421 |
221.399 |
|
|
46.82% |
57.29% |
61.50% |
LOCAL AGENCY FURTHER INFORMATION
LITIGATION DETAILS:
|
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|
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 |
No |
|
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 |
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 |
No |
|
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 |
FACILITIES
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Term Loans from Banks |
75.026 |
75.026 |
|
|
|
|
|
TOTAL |
75.026 |
75.026 |
NOTE: Registered
Office of the company has been shifted from Nagar-16, Gujarat - 382016, India to the present
address w.e.f. 29.06.2006
FINANCIAL RESULTS
The Gross income during
the year 2011-12 was Rs. 536.300 Millions against Rs. 354.800 Millions in the
Previous year. The Gross income during the year has consist of the following in
addition to operational income
FIXED ASSETS
· Land
· Building
· Furniture and Fixtures
· Vehicles
PRESS RELEASE
NEWS
PATA ANNOUNCES GRAND AND GOLD AWARD WINNERS
July
27, 2013
The
Pacific Asia Travel Association (PATA) is pleased to announce the winners of
the 2013 PATA Gold Awards.
Proudly
supported and sponsored by the Macau Government Tourist Office (MGTO), for the
last 18 years, this year’s awards recognise the achievements of 22 separate
organisations and individuals.
PATA
will present 26 Grand and Gold Awards, with awards going to Papua New Guinea
Tourism Promotion Authority, Rottnest Island Authority, Korea Tourism
Organization and Travel+Leisure magazine to name a few. The awards
ceremony will take place at the Jinjiang Hotel, on Sunday, September
15 during the PATA Board and Committee meetings, just prior to the PATA Travel
Mart on September 16-17.
Ms
Maria Helena de Senna Fernandes, Director, MGTO said, “Our hearty
congratulations go out to all PATA Gold Awards 2013 winners. The list of PATA
Gold Awards 2013 winners fully reveals the great dynamism of the Asia Pacific
travel and tourism industry. The innovation and excellence brought by the
winners will inspire the rest of the region to do more and better through this
meaningful PATA awards programme.”
“The
award winners have demonstrated a high degree of creativity and excellence,”
said Mr. Martin J. Craigs, CEO PATA. “We would like to extend our warmest
congratulations and we are delighted to recognise these achievements at the
PATA Gold Awards Luncheon in Chengdu. All winners will be invited to be our
guest at the PATA Travel Mart.”
The
PATA Grand Awards are presented to outstanding entries in four principal
categories: Marketing; Education and Training; Environment; and Heritage and
Culture.
The
Central Plaza Hotel will receive the 2013 PATA Grand Award for Education and Training for its “4 Cs: Centara Career
Creation for Children” campaign. The programme has provided career development
opportunities to underprivileged students through a five-month training
programme intended to enhance their knowledge and skills in hospitality
services. The initiative aims to expand the workforce base, targeting Thai
juveniles who have the potential to become new workers within the hospitality
industry.
The Environmental award will be presented to Jetwing
Hotels, Sri Lanka for its “A Heartfelt Commitment” project. Highlights of the
project include a central chilling system powered sustainably by a biomass
boiler for running the entire air conditioning system of the hotel. Other
initiatives include 100% illumination through energy saving LED lighting, solar
panels powering room lighting, hot water generated through biomass boilers, and
all waste water being treated via a waste water treatment plant and being
re-used within the hotel gardens.
The Heritage and Culture award will be awarded to
Sampran Riverside in Thailand for its “Sampran Riverside – an eco-cultural
destination.” After 50 years of showcasing traditional aspects of Thai life for
tourists, Sampram Riverside has embarked on a new venture: organic agriculture.
Sampran Riveside has enhanced the use of traditional Thai farming culture
throughout its property and the local community. It now promotes the use of
Thai food, herbs, and traditional medicine without chemicals. Organic
agriculture products produced at the property and by local farmers are
available for tourists at the project’s Sookjai Market and Sookjai Organic
Development Centre.
The Marketing award is presented to the Tourism Authority of Thailand for
its “Discover the Other You” digital marketing campaign. This campaign aimed to
inspire travellers to discover their inner desires and develop new perspectives
on their own lives, while creating an unforgettable experience.
Open
to both PATA and non-PATA members, this year’s Awards attracted a total of 165
entries from 60 travel and tourism organizations.
'STATE TRAINING SPECIAL
FORCE FOR TOURISTS'
The
Gujarat government has created a special police force under the home department
to enforce safety and security measures for tourists, state's Tourism Minister
Saurabh Patel said at the national conference of tourism ministers held in New
Delhi on Thursday.
"A
batch of 60 police personnel is undergoing training at present to ensure safety
of tourists and also perform as information providers about tourist
destinations in the state. A 24-hour call centre has been set up by the Tourism
Corporation of Gujarat Limited (TCGL) to help a tourist complainant access the
nearest police station to lodge a complaint... Tourism in the state has
registered a remarkable growth rate of 13.62 per cent in 2012-13, which is much
higher than the national average growth in the sector. Tourism management
kiosks have been developed in all temple towns in Gujarat to maintain
cleanliness standards. Public conveniences have been set up at petrol pumps on
highways in Gujarat to facilitate travellers," Patel was quoted as saying
in a press release issued by the office of Gujarat's Resident Commissioner in
Delhi.
Alleging
discrimination against Gujarat, Patel said the state was not included in the
Incredible India campaign of the Union Ministry of Tourism and none of the
tourist destinations in Gujarat had been projected at the conference, the
release stated.
In
spite of assurances from Prime Minister Manmohan Singh to develop the
world-famous Dandi route, no nod was being given to the government of Gujarat,
Patel was quoted as saying.
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.60.44 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
69 |
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.