|
|
|
MIRA INFORM REPORT
|
Report No. : |
499265 |
|
Report Date : |
22.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
SINGAPORE TOURISM BOARD |
|
|
|
|
Liaison Office : |
First Floor, Manek Lodge, 85, Hughes Road, Above HDFC Bank,
Mumbai – 400007, Maharashtra |
|
Tel. No.: |
91-22-66083200 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
17.12.1993 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 19.981 Million |
|
|
|
|
FCRN : |
F03627 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Statutory Board Government |
|
|
|
|
Line of Business
: |
The primary functions and
duties of the Board are: ·
To develop and promote Singapore as a travel and tourist destination; ·
To advise the Government on matters relating to travel and tourism; ·
To enhance the travel and tourism sector's contribution to the
Singapore economy; ·
To exercise licensing and regulatory functions in respect of such
tourism enterprises as the Board may determine. [Registered
Activity] |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The Singapore Tourism Board is a statutory board under the Ministry of
Trade and Industry of Singapore, tasked to promote the country’s tourism
industry. The company was incorporated in the year 1993. For the FY 2017, the subject has earned decent revenue but has
incurred operational loss. The primary task of STB was to coordinate the efforts of hotels,
airlines and travel agents to develop the fledgling tourism industry of the
country. The overall financials seems to be healthy along with strong debt
coverage indicators due to debt free balance sheet profile. The rating takes into consideration the subject’s long track record of
business operations along with extensive experience of its promoters. Business is active. Payment seems to be regular. In view of aforesaid, the subject 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 22.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
Management Non-Cooperative (91-22-66083200)
91-11-45810088 / 91-44-28220033 / 91-80-25350322 – Continuously Ringing
LOCATIONS
|
Registered
/ Principal Office : |
Tourism Court, 1 Orchard Spring Lane, Singapore 247729 |
|
Tel. No.: |
(65) 67366622 |
|
Fax No.: |
(65) 67369423 |
|
|
|
|
Liaison Office 1 : |
First Floor, Manek Lodge, 85, Hughes Road, Above HDFC
Bank, Mumbai – 400007, Maharashtra, India |
|
Tel. No.: |
91-22-66083200 |
|
|
|
|
|
|
|
Liaison Office 2 / Regional Office 1 : |
Unit 216/217, The Capital, G Block, Near ICICI Bank, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
|
|
|
Regional Office 2 : |
Eros Corporate Tower, 4th Floor, Unit No. 401A, Nehru Place, New Delhi 110019, India |
|
Tel. No.: |
91-11-45810088 |
|
|
|
|
Regional Office 3 : |
C/B 10, 1st Floor, Gemini Parsn Complex, Nungambakkam Chennai – 600006, Tamilnadu, India |
|
Tel. No.: |
91-44-28220033 |
|
|
|
|
Regional Office 4 : |
348, Amar Jyothi Layout, Behind Trinity Golf Apartment
Domlur, Bangalore – 560071, Karnataka, India |
|
Tel. No.: |
91-80-25350322 |
DIRECTORS
AS ON 2018
|
Name : |
Mr. Chaly Mah
Chee Kheong
|
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Chang Chee Pey |
|
Designation : |
Executive Director |
|
Address : |
Unit 216/217 The Capital, Bandra Kurla Complex, Bandra (East), Mumbai – 400101, Maharashtra, India |
|
Date of Birth/ Age
: |
07.04.1972 |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
BBSPC0294C |
|
Passport No.: |
J0004768C |
|
|
|
|
Name : |
Mr. Srithar Govindan Balakrishnan |
|
Designation : |
Regional Director |
|
Address : |
16-B, Ahuja Towers, Raja Bhau Desai Marg, Century Bazaar, Prabhadevi,
Mumbai –
400025, Maharashtra, India |
|
Date of Birth/ Age
: |
10.08.1965 |
|
Date of Appointment : |
16.12.2016 |
|
PAN No.: |
HFWPS6612L |
|
Passport No.: |
0000J000968K |
KEY EXECUTIVES
|
Name : |
Mr. Randall Chin Boon Tan |
|
Designation : |
Key Executive |
|
Date of Appointment
: |
01.11.2009 |
|
PAN No.: |
AJOPT8784F |
|
|
|
|
Name : |
Lionel Yeo |
|
Designation : |
Chief Executive |
MAJOR SHAREHOLDERS
NOT AVAILABLE
BUSINESS DETAILS
|
Line of Business : |
The primary functions and
duties of the Board are: ·
To develop and promote Singapore as a travel and tourist destination; ·
To advise the Government on matters relating to travel and tourism; ·
To enhance the travel and tourism sector's contribution to the
Singapore economy; ·
To exercise licensing and regulatory functions in respect of such tourism
enterprises as the Board may determine. [Registered
Activity] |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by the management |
||||||||||||||||||||||
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|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
V. V. Kale and Company Chartered Accountants |
|
Address : |
16 A/20 W.E.A. Main Ajmal Khan Road, Karol Bagh, New Delhi – 110005,
India |
|
Tel. No.: |
91-11-25761916 / 25712222 / 25722222 / 25732222 |
|
Fax No.: |
91-11-25732222 |
|
E-Mail : |
|
|
Membership No.: |
080821 |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2017
|
Head Office Account |
INR in Million |
|
Opening Balance |
28.686 |
|
Add: Remittance received for the year From Singapore Tourism Board Singapore (Head office) |
173.551 |
|
Less: Expenditure for the year |
182.256 |
|
|
|
|
TOTAL |
19.981 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF
FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
EQUITY AND LIABILITIES |
|
|
|
|
|
1] Head Office Account |
19.981 |
28.685 |
9.254 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19.981 |
28.685 |
9.254 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.981 |
28.685 |
9.254 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.756 |
1.059 |
1.223 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000 |
0.000 |
0.000 |
|
|
Cash & Bank Balances |
8.174 |
24.188 |
4.169 |
|
|
Other Current Assets |
4.019 |
0.000 |
0.000 |
|
|
Loans & Advances |
5.032 |
3.438 |
3.862 |
|
Total Current Assets |
17.225 |
27.626 |
8.031 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000 |
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total Current Liabilities |
0.000 |
0.000 |
0.000 |
|
|
Net Current
Assets |
17.225 |
27.626 |
8.031 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.981 |
28.685 |
9.254 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
Income |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Less |
Expenditure |
|
|
|
|
|
|
|
- Salary & Allowances |
6.252 |
6.656 |
5.625 |
|
|
|
- Bonus |
0.906 |
1.795 |
0.768 |
|
|
|
- Staff Benefits |
2.459 |
0.305 |
0.388 |
|
|
|
- Training & Development |
0.123 |
0.089 |
0.182 |
|
|
|
- Travel- Local ( ground transportation) |
1.736 |
1.785 |
1.507 |
|
|
|
- Travel-Foreign/Domestic |
4.769 |
6.935 |
5.501 |
|
|
|
- Electricity & Water Exp.-Utilities |
0.119 |
0.124 |
0.088 |
|
|
|
- Travel Exp.(Per Diem for Staff) |
4.073 |
4.475 |
2.046 |
|
|
|
- Telecommunication Exp. |
0.669 |
0.595 |
0.457 |
|
|
|
- Postage & Courier |
0.552 |
0.453 |
0.279 |
|
|
|
- Printing & Stationery |
0.107 |
0.110 |
0.175 |
|
|
|
- Vehicle Running & Maintenance |
0.517 |
0.337 |
0.639 |
|
|
|
- General Insurance-Property / Office Maintenance |
0.700 |
0.485 |
0.074 |
|
|
|
Rental |
|
|
|
|
|
|
- Office |
2.941 |
4.954 |
4.246 |
|
|
|
- Housing Cost |
12.437 |
10.481 |
14.523 |
|
|
|
Repair &
Maintenance |
|
|
|
|
|
|
- Computers |
0.000 |
0.006 |
0.035 |
|
|
|
- Buildings & Office Equipment |
0.000 |
0.000 |
0.000 |
|
|
|
- Professional & Legal Charges |
15.845 |
9.463 |
11.536 |
|
|
|
- Newspapers & Periodicals |
0.015 |
0.013 |
0.007 |
|
|
|
- Fee & Taxes |
0.005 |
0.013 |
0.078 |
|
|
|
- Sundries |
0.061 |
0.171 |
0.057 |
|
|
|
- Promotional Exp. |
123.883 |
122.968 |
127.350 |
|
|
|
- Bank Charges |
0.005 |
0.002 |
0.002 |
|
|
|
- OE Non- Capitalized |
0.131 |
0.194 |
0.076 |
|
|
|
- Outsource Manpower Cost |
1.631 |
1.852 |
1.732 |
|
|
|
- Entertainment expenses |
0.293 |
0.137 |
0.204 |
|
|
|
- Depreciation |
0.980 |
0.466 |
0.405 |
|
|
|
- Relocation |
0.229 |
0.124 |
1.112 |
|
|
|
- Brokerage |
0.817 |
0.345 |
0.000 |
|
|
|
- Excess sale price over cost of FA |
0.000 |
(0.135) |
0.000 |
|
|
|
Total |
182.255 |
175.198 |
179.092 |
|
|
|
|
|
|
|
|
|
Excess of
expenditure over income transferred to balance sheet |
(182.255) |
(175.198) |
(179.092) |
|
-------------------------------------------------------------------------------------------------------------------------------------------------------
SINGAPORE TOURISM BOARD
STATEMENT
OF FINANCIAL POSITION
|
SOURCES OF FUNDS |
31.03.2017 $'000 |
31.03.2016 $'000 |
31.03.2015 $'000 |
|
ASSETS |
|
|
|
|
Non-current assets |
|
|
|
|
Property, plant and equipment |
551608 |
423501 |
455473 |
|
Intangible assets |
681 |
274 |
2676 |
|
Finance lease receivable |
19180 |
19782 |
20347 |
|
Available-for-sale investments |
2076 |
2076 |
2076 |
|
Other assets |
150 |
150 |
150 |
|
Total non-current assets |
573695 |
445783 |
480722 |
|
|
|
|
|
|
Current assets |
|
|
|
|
Prepayments |
2776 |
3014 |
2349 |
|
Receivables |
14361 |
15509 |
12333 |
|
Finance lease receivable |
602 |
566 |
532 |
|
Financial assets under fund management |
251500 |
243021 |
184340 |
|
Cash and cash equivalents |
130875 |
119808 |
178787 |
|
Total current assets |
400114 |
381918 |
378341 |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
Advances and deposits received |
16336 |
11127 |
10595 |
|
Payables and accruals |
77917 |
77917 |
74699 |
|
Deferred long-term lease income |
117 |
117 |
117 |
|
Total current liabilities |
94370 |
89161 |
85411 |
|
|
|
|
|
|
Net current assets |
305744 |
292757 |
292930 |
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
Deferred long-term lease income |
175 |
291 |
408 |
|
Deferred capital grant |
150207 |
1530 |
1549 |
|
Total non-current liabilities |
150382 |
1821 |
1957 |
|
|
|
|
|
|
Net assets |
729057 |
736719 |
771695 |
|
|
|
|
|
|
Capital and reserves |
|
|
|
|
Share capital |
557122 |
550549 |
544748 |
|
Accumulated surplus |
171859 |
186094 |
226871 |
|
Revaluation reserve |
76 |
76 |
76 |
|
Total capital and reserves |
729057 |
736719 |
771695 |
|
|
|
|
|
|
Net assets of Trust and Agency Funds |
36776 |
4316 |
8283 |
-------------------------------------------------------------------------------------------------------------------------------------------------------
STATEMENT
OF COMPREHENSIVE INCOME
|
PARTICULARS |
31.03.2017 $'000 |
31.03.2016 $'000 |
31.03.2015 $'000 |
|
Income |
|
|
|
|
Operating income |
23338 |
24347 |
23539 |
|
|
|
|
|
|
Less: Operating expenses |
|
|
|
|
Employee benefit expenses |
(71239) |
(67245) |
(63008) |
|
Depreciation of property, plant and
equipment |
(35600) |
(33000) |
(33272) |
|
Amortisation of intangible assets |
(320) |
(2434) |
(2398) |
|
Other operating expenses |
(164189) |
(176779) |
(121815) |
|
Total operating expenses |
(271348) |
(279458) |
(220493) |
|
|
|
|
|
|
Operating deficit |
(248010) |
(255111) |
(196954) |
|
Other income items |
10364 |
7326 |
10515 |
|
Other expense items |
(389) |
(2035) |
(2400) |
|
Operating deficit before government grant |
(238035) |
(249820) |
(188839) |
|
|
|
|
|
|
Grants |
|
|
|
|
Funding from government |
211749 |
211278 |
174858 |
|
Deferred
capital grant amortised representing government grant/funding |
12051 |
19 |
19 |
|
Net deficit before contribution to consolidated
fund |
(14235) |
(38523) |
(13962) |
|
Contribution to consolidated fund |
-- |
-- |
-- |
|
Total comprehensive loss for the year |
(14235) |
(38523) |
(13962) |
-------------------------------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
|
PARTICULARS |
31.03.2017 $'000 |
31.03.2016 $'000 |
31.03.2015 $'000 |
|
Cash flows used in
operations |
(202531) |
(213932) |
(160391) |
|
Net cash flows used in
operating activities |
(193090) |
(208443) |
(156139) |
-------------------------------------------------------------------------------------------------------------------------------------------------------
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in Report
(Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
No |
|
21 |
Banking facility details |
No |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
INDEX OF CHARGES: NO
CHARGES EXISTS FOR COMPANY
GENERAL INFORMATION
The Singapore Tourism Board ("the Board"), a Singapore statutory board under the Ministry of Trade and Industry ("MTI"), was established under the Singapore Tourism Board Act, Cap 305B (the "Act").
The registered office and principal place of operations of the Board is at Tourism Court, 1 Orchard Spring Lane, Singapore 247729.
The primary functions and
duties of the Board are:
·
To
develop and promote Singapore as a travel and tourist destination;
·
To
advise the Government on matters relating to travel and tourism;
·
To
enhance the travel and tourism sector's contribution to the Singapore economy;
·
To
exercise licensing and regulatory functions in respect of such tourism
enterprises as the Board may determine.
There have been no significant changes in the nature of these activities during the financial year.
FIXED ASSETS:
Tangible Assets
·
Furniture, Fittings and
Equipment
·
Computers and Audio
Visual Equipments
·
Motor Vehicles
·
Improvements to Rented
Premises
·
Telecommunication Devices
·
Electrical Installations
·
Air Conditioner
Intangible Assets
·
Intangible Assets under
Development
·
Computer Softwares
WEBSITE DETAILS:
OVERVIEW
The Singapore Tourism Board (STB) is a
statutory board under the Ministry of Trade and Industry of Singapore. It
champions the development of Singapore's tourism sector, one of the
country's key service sectors and economic pillars, and undertakes the marketing
and promotion of Singapore as a tourism destination.
The tourism sector currently contributes 4
per cent to Singapore’s gross domestic product. Tourism plays an essential role
in reinforcing Singapore’s status as a vibrant global city that is a magnet for
capital, businesses and talent. It also enhances the quality and diversity of
leisure options for local residents and helps to create a living environment
that Singaporeans can be proud to call home.
STB strives to ensure that tourism remains an
important economic pillar through long-term strategic planning, and by forging
partnerships, driving innovation and ensuring excellence in the tourism sector.
It continues to market Singapore’s multi-faceted appeal as a premier
business and leisure destination, and offer empowering and customised
experiences. We bring the Passion Made Possible brand to life by
differentiating Singapore as a vibrant destination that inspires people to
share and deepen their passions. This is a unified brand between STB and Economic
Development Board (EDB) which will allow the international marketing of
Singapore for tourism and business purposes. STB also regularly reviews
and updates the tourism regulatory framework to ensure its relevance in the
current business environment, while providing support and incentives to
catalyse the private sector to take the lead in investing for growth.
While STB leads in driving tourism
development, it cannot do it alone; continued support from industry players is
crucial in ensuring the success and sustainable growth of the sector. In the
face of growing challenges such as resource scarcity and increasingly
discerning travellers, there is a need to focus on yield-driven quality growth.
As such, STB and tourism industry players have to work collaboratively to
continue to innovate and create value for visitors. STB also aims to facilitate
the sharing of experiences, expertise and resources among industry players to
raise industry capability and competitiveness, maximise business opportunities
and forge long-term win-win partnerships.
Strong support and active participation from
Singapore residents are also imperative to the tourism sector as they are an
integral part of Singapore’s identity and appeal. STB will continue to work
with tourism industry partners to nurture public engagement as part of its
tourism development efforts; every local resident is a potential advocate for
tourism and together, their collective ideas and energies can contribute to the
sustainable development of the tourism sector.
To navigate the tourism sector through the
next phase of growth, STB will be pursuing Quality Tourism - a model of tourism
development that emphasises innovative enterprise, local engagement and strong
economic contribution.
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 records 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
|
INR |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 91.33 |
|
Euro |
1 |
INR 79.96 |
INFORMATION DETAILS
|
Information
Gathered by : |
SHW |
|
|
|
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.