MIRA INFORM REPORT

 

 

Report Date :           

30.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AAVANTI INDUSTRIES PTE LTD

 

 

Registered Office :

17 Phillip Street #05-01 Grand Building Singapore 048695

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2010 (Group)

30.06.2010 (Company)

 

 

Date of Incorporation :

21.07.1993

 

 

Com. Reg. No.:

199304717K

 

 

Legal Form :

Limited Private Company

 

 

Line of Business :

Other investment holding companies

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

S$1,000,000

Status :

Moderate

Payment Behaviour :

Unknown

Litigation :

Exists

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Singapore

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Executive Summary

 

Company Name

:

AAVANTI INDUSTRIES PTE LTD

Registration No

:

199304717K

Date of Registration

:

21/07/1993

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

17 PHILLIP STREET #05-01 GRAND BUILDING SINGAPORE 048695

Date of Change of Address

:

01/06/2009

Contact No.

:

6538 8233

Fax No.

:

6538 2183

Website

:

NA

Registered Activities

:

OTHER INVESTMENT HOLDING COMPANIES

Issued Ordinary Capital*

:

$7,870,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 7,870,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$7,870,000.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

2

No. of Local Associates

:

1

Auditor

:

PRUDENTIAL PUBLIC ACCOUNTING CORPORATION

Bankers / Financiers

:

DBS BANK LTD.

SOCIETE GENERALE

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND")

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

STANDARD CHARTERED BANK

HSH NORDBANK AG

DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN (FORMERLY GZ-BANK AG)

OVERSEA-CHINESE BANKING CORPORATION LIMITED

THE ROYAL BANK OF SCOTLAND N.V.

Turnover

:

SINGAPORE, DOLLARS 1,977,803,447.27 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS 47,700,804.13 (FY2010)

No. of Bank Charges

:

32

No. of Litigation Suits

:

4

S1000 / SME 500 / FG50 Ranking

:

138 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

170 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

229 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

235 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2006/2007)

221 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2005/2006)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

Credit Recommendation

 

Recommended Credit Line

:

S$1,000,000

 

 

SHAREHOLDER DETAILS

 

NAME

:

MERDALE INVESTMENT COMPANY LIMITED

SHAREHOLDER ID

:

T08UF0334D

NATIONALITY

:

NA

ADDRESS

:

ST JAMES HOUSE NEW ST JAMES PLACE ST HELIER JERSEY JE 4 8WB CHANNEL ISLANDS

NO. OF ORD SHARES

:

7,869,998

% OF SHAREHOLDING

:

100%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

EASAW S/O V E THOMAS

SHAREHOLDER ID

:

S1206857C

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

2 WILBY ROAD SINGAPORE 276291

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

ANJULA THOMAS NEE KHANDELWAL

SHAREHOLDER ID

:

S2183449A

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

2 WILBY ROAD SINGAPORE 276291

NO. OF ORD SHARES

:

1

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

EASAW S/O V E THOMAS

ADDRESS

:

2 WILBY ROAD SINGAPORE 276291

POSITION

:

DIRECTOR

DATE OF APPT

:

15/02/1998

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1206857C

 

NAME

:

ANJULA THOMAS NEE KHANDELWAL

ADDRESS

:

2 WILBY ROAD SINGAPORE 276291

POSITION

:

DIRECTOR

DATE OF APPT

:

21/07/1993

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2183449A

 

NAME

:

CLIFFORD EMMANUEL GERMAIN ABAYASEKARA

ADDRESS

:

33A SURIN AVENUE CHARLTON COURT SINGAPORE 535617

POSITION

:

SECRETARY

DATE OF APPT

:

28/02/2009

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2191478I

 

 

 

KEY PERSONNEL PROFILE

 

Name:

EASAW S/O V E THOMAS

NRIC Number:

S1206857C

Available Address:

2 WILBY ROAD  SINGAPORE 276291

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

AAVANTI INDUSTRIES PTE LTD

DIRECTOR

15/02/1998

1

0.00

2

AAVANTI OFFSHORE PTE. LTD.

DIRECTOR

23/05/2009

-

-

3

ANJULA THOMAS PTE LTD

DIRECTOR

04/02/1993

5000

50.00

4

JUST CONSOLIDATED PTE LTD

DIRECTOR

02/05/2007

-

-

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BI-TRON INTERNATIONAL SINGAPORE PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

 

Bankruptcy Record

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Litigation Search – Writ of Summons

Court

Case No.

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

SAWIT PLANTATION PTE. LTD.

100

RF SOLUTIONS PTE. LTD.

100

JUST CONSOLIDATED PTE LTD

50

 

                                                                                                                       

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 32 bank charges registered against Subject by its bankers. The charge numbers are:

1)

Charge No.

:

C201105146

 

Date of Registration

:

26/04/2011

 

Chargee

:

DBS BANK LTD.

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

2)

Charge No.

:

C201010236

 

Date of Registration

:

29/10/2010

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

3)

Charge No.

:

C201010233

 

Date of Registration

:

29/10/2010

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

4)

Charge No.

:

C201010231

 

Date of Registration

:

29/10/2010

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

5)

Charge No.

:

C201005568

 

Date of Registration

:

02/07/2010

 

Chargee

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND")

 

Address

:

---

 

6)

Charge No.

:

C201005563

 

Date of Registration

:

02/07/2010

 

Chargee

:

COOPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.("RABOBANK NEDERLAND")

 

Address

:

---

 

7)

Charge No.

:

C200810012

 

Date of Registration

:

03/11/2008

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

8)

Charge No.

:

C200808077

 

Date of Registration

:

28/08/2008

 

Chargee

:

STANDARD CHARTERED BANK

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

9)

Charge No.

:

C200806325

 

Date of Registration

:

11/07/2008

 

Chargee

:

HSH NORDBANK AG

 

Address

:

3 TEMASEK AVENUE #33-00 CENTENNIAL TOWER SINGAPORE 039190

10)

Charge No.

:

C200803803

 

Date of Registration

:

23/04/2008

 

Chargee

:

DBS BANK LTD.

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

11)

Charge No.

:

C200803300

 

Date of Registration

:

09/04/2008

 

Chargee

:

DZ BANK AG DEUTSCHE ZENTRAL-GENOSSENSCHAFTSBANK, FRANKFURT AM MAIN (FORMERLY GZ-BANK AG)

 

Address

:

---

 

12)

Charge No.

:

C200800042

 

Date of Registration

:

02/01/2008

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

13)

Charge No.

:

C200710812

 

Date of Registration

:

07/12/2007

 

Chargee

:

STANDARD CHARTERED BANK

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

14)

Charge No.

:

C200710804

 

Date of Registration

:

07/12/2007

 

Chargee

:

DBS BANK LTD.

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

15)

Charge No.

:

C200710757

 

Date of Registration

:

06/12/2007

 

Chargee

:

DBS BANK LTD.

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

16)

Charge No.

:

C200702867

 

Date of Registration

:

17/04/2007

 

Chargee

:

STANDARD CHARTERED BANK

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

17)

Charge No.

:

C200702643

 

Date of Registration

:

05/04/2007

 

Chargee

:

STANDARD CHARTERED BANK

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

18)

Charge No.

:

C200702496

 

Date of Registration

:

02/04/2007

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

19)

Charge No.

:

C200702495

 

Date of Registration

:

02/04/2007

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

 

 

 

20)

Charge No.

:

C200702493

 

Date of Registration

:

02/04/2007

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

21)

Charge No.

:

C200604839

 

Date of Registration

:

25/07/2006

 

Chargee

:

THE ROYAL BANK OF SCOTLAND N.V.

 

Address

:

---

 

22)

Charge No.

:

C200604205

 

Date of Registration

:

29/06/2006

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

23)

Charge No.

:

C200604204

 

Date of Registration

:

29/06/2006

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

24)

Charge No.

:

C200604202

 

Date of Registration

:

29/06/2006

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

25)

Charge No.

:

C200506980

 

Date of Registration

:

10/11/2005

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

26)

Charge No.

:

C200400106

 

Date of Registration

:

07/01/2004

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

27)

Charge No.

:

C200305583

 

Date of Registration

:

19/11/2003

 

Chargee

:

STANDARD CHARTERED BANK

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

28)

Charge No.

:

9504610

 

Date of Registration

:

26/07/1995

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

29)

Charge No.

:

200205650

 

Date of Registration

:

24/12/2002

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

30)

Charge No.

:

200104805

 

Date of Registration

:

03/10/2001

 

Chargee

:

SOCIETE GENERALE

 

Address

:

80 ROBINSON ROAD #26-00 SINGAPORE 068898

 

31)

Charge No.

:

200005623

 

Date of Registration

:

21/11/2000

 

Chargee

:

DBS BANK LTD.

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

32)

Charge No.

:

200005144

 

Date of Registration

:

11/10/2000

 

Chargee

:

THE ROYAL BANK OF SCOTLAND N.V.

 

Address

:

---

 

             

LITIGATION

 

The following litigation suits were traced against Subject. Case status is as per available. For the latest status of the suit, please obtain the full details of the suit through Litigation Detail Search (DLIT).

 

To date, there have been 4 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2011

Past Years

W.e.f 01 Jan 2011

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

2

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

2

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

795

 

Date of Filing

:

08/01/2003

 

Amount

:

713.79

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

CONCLUDED

 

Plaintiff

:

GURBANI & CO

 

Last Update Date

:

19/09/2008

 

2)

Court

:

Supreme Court

 

Case No.

:

223

 

Date of Filing

:

19/03/2004

 

Amount

:

USD 167,424.00

USD 321,750.29

USD 167,424.00

 

Cause

:

Contract - Sale of goods

 

Case Status

:

CONCLUDED

 

Plaintiff

:

PT PERMATA HIJAU SAWIT

 

Last Update Date

:

19/09/2008

 

 

 

 

3)

Court

:

Magistrate Court

 

Case No.

:

11555

 

Date of Filing

:

10/07/1995

 

Amount

:

5,751.95

 

Cause

:

Contracts - Work Done And Service Rendered

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SYABAS INDO PTE LTD FORMERLY KNOWN AS SYABAS SHIPMANAGEMENT PTE LTD

 

Last Update Date

:

19/09/2008

 

4)

Court

:

Supreme Court

 

Case No.

:

714

 

Date of Filing

:

11/04/1997

 

Amount

:

111,409.49

 

Cause

:

Monetary Claim

 

Case Status

:

CONCLUDED

 

Plaintiff

:

WILMAR TRADING PTE LTD

 

Last Update Date

:

19/09/2008

 

 

COMPLIANCE

 

Date of Last AGM

:

30/12/2010

Date of Last AR

:

23/05/2011

Date of A/C Laid At Last AGM

:

30/06/2010

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

JUN 2010

% Change

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

1,977,803,447

-13.21

2,278,706,711

1,681,759,666

0

0

Profit/(Loss) Before Tax

3,506,405

103.32

1,724,605

1,065,801

0

0

Profit After Tax attributable to Shareholders

2,010,714

-22.38

2,590,399

834,993

0

0

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

247,724,872

-32.98

369,653,924

217,335,612

0

0

Current Assets

186,383,539

-45.27

340,573,319

187,509,721

0

0

Non Current Assets

61,341,333

110.94

29,080,605

29,825,891

0

0

 

 

 

 

 

 

 

Total Liabilities

200,024,068

-43.93

356,717,698

205,920,575

0

0

Current Liabilities

199,501,604

-39.73

331,012,450

181,200,161

0

0

Non Current Liabilities

522,463

-97.97

25,705,248

24,720,414

0

0

 

 

 

 

 

 

 

Shareholders' Funds

47,700,804

268.74

12,936,227

11,415,038

0

0

Share Capital

6,726,063

-4.09

7,012,607

6,832,957

0

0

Total Reserves

39,402,736

565.18

5,923,620

4,582,081

0

0

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

JUN 2010

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-13.21

35.50

NA

NA

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.10

0.11

0.05

NA

NA

Return on Equity (%)

4.22

20.02

7.31

NA

NA

Return on Assets (%)

0.81

0.70

0.38

NA

NA

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

4.19

27.58

18.04

NA

NA

Current Debt/Equity (Times)

4.18

25.59

15.87

NA

NA

Long Term Debt To Equity (Times)

0.01

1.99

2.17

NA

NA

Total Asset To Total Equity (Times)

5.19

28.58

19.04

NA

NA

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

7.98

6.16

7.74

NA

NA

Fixed Assets Turnover (Times)

32.24

78.36

56.39

NA

NA

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.93

1.03

1.03

NA

NA

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

JUN 2010

% Change

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

*

NA

0

0

998,837,376

907,363,103

Profit/(Loss) Before Tax

*

NA

0

0

625,984

618,031

Profit After Tax attributable to Shareholders

*

NA

0

0

533,371

507,255

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

205,253,313

-43.46

363,046,104

210,212,512

206,689,952

199,356,501

Current Assets

203,459,244

-43.73

361,553,514

185,170,600

206,098,658

199,260,546

Non Current Assets

1,794,069

20.20

1,492,591

25,041,912

591,294

95,955

 

 

 

 

 

 

 

Total Liabilities

192,258,882

-45.13

350,384,776

199,069,094

196,677,178

189,273,579

Current Liabilities

191,736,418

-41.36

326,950,141

176,185,589

196,677,178

189,273,579

Non Current Liabilities

522,463

-97.77

23,434,635

22,883,504

0

0

 

 

 

 

 

 

 

Shareholders' Funds

12,994,431

2.63

12,661,329

11,143,418

10,012,776

10,082,923

Share Capital

6,726,063

-4.09

7,012,807

6,833,114

5,839,294

6,211,060

Total Reserves

6,268,368

10.97

5,648,522

4,310,304

4,173,482

3,871,863

 

 

 

 

 

 

 

* As per Companies Act, section 201 Accounts, Consolidated accounts and directors report, sub-section 3A.

 

 

FINANCIAL RATIOS

 

 

Company

 

JUN 2010

JUN 2009

JUN 2008

JUN 2007

JUN 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

NA

NA

-100.00

10.08

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.00

0.00

0.00

0.05

0.06

Return on Equity (%)

0.00

0.00

0.00

5.33

5.03

Return on Assets (%)

0.00

0.00

0.00

0.26

0.25

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

14.80

27.67

17.86

19.64

18.77

Current Debt/Equity (Times)

14.76

25.82

15.81

19.64

18.77

Long Term Debt To Equity (Times)

0.04

1.85

2.05

0.00

0.00

Total Asset To Total Equity (Times)

15.80

28.67

18.86

20.64

19.77

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.00

0.00

0.00

4.83

4.55

Fixed Assets Turnover (Times)

0.00

0.00

0.00

1,689.24

9,456.13

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.06

1.11

1.05

1.05

1.05

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 0.10 per cent in FY10 (FY09: 0.11 per cent). The group is now able to book in SINGAPORE, DOLLARS 0.00 of profit for every SINGAPORE, DOLLARS of sales in FY10, as compared with SINGAPORE, DOLLARS 0.00 a year ago.

 

 

Liquidity

 

Current ratio stood at 0.93 times in FY10 (FY09: 1.03 times). This means that the group has SINGAPORE, DOLLARS 0.93 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

 

 

 

Leverage

Total debt-to-equity ratio notched 4.19 times in FY10, as compared with 27.58 times in FY09. This means that the group requires additional external financing of SINGAPORE, DOLLARS 4.19 for every SINGAPORE, DOLLARS injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

 

Efficiency Ratio

 

Return on equity was 4.22 per cent for Subject in the current financial period, as compared to 20.02 per cent a year ago. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 0.81 per cent (FY09: 0.70 per cent). The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 7.98 times in FY10 (FY09: 6.16 times). This ratio measures the group's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.21

UK Pound

1

Rs.74.31

Euro

1

Rs.64.40

 

 

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

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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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.