MIRA INFORM REPORT

 

 

Report Date :

06.12.2012

 

IDENTIFICATION DETAILS

 

Name :

SINOTRON UNITED PTE LTD

 

 

Formerly Known As :

MANDALAY LAND PTE LTD

 

 

Registered Office :

46 Penjuru Lane, C & P Hub 3, 609206

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

08.10.1994

 

 

Com. Reg. No.:

199407307-M

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Trading of photocopier parts, consumables, printers

 

 

No. of Employees :

30 [2012]

                       

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory  

 

 

Payment Behaviour :

No Complaints 

 

 

Litigation :

Clear 

 

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 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Singapore - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

 

* Adopted abbreviations :

SC - Subject Company (the company enquired by you)

 

 

N/A - Not Applicable

 

 

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

199407307-M

COMPANY NAME

:

SINOTRON UNITED PTE LTD

FORMER NAME

:

MANDALAY LAND PTE LTD (03/07/2002)
BLUE WORLD HOLDINGS PTE LTD (06/02/2002)

INCORPORATION DATE

:

08/10/1994

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

46 PENJURU LANE, C & P HUB 3, 609206, SINGAPORE.

BUSINESS ADDRESS

:

46 PENJURU LANE, C&P LOGISTICS HUB 1, OFFICE TOWER 2 HQ, LEVEL 3,, 609206, SINGAPORE.

TEL.NO.

:

65-68853322

FAX.NO.

:

65-62617986/68980060

EMAIL

:

enquiry@sinotron.biz

WEB SITE

:

www.sinotron.biz

CONTACT PERSON

:

LEE CHIN LEONG ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

TRADING OF PHOTOCOPIER PARTS, CONSUMABLES, PRINTERS

AUTHORISED CAPITAL

:

300,000.00 ORDINARY SHARE, OF A VALUE OF SGD 300,000.00

ISSUED AND PAID UP CAPITAL

:

300,000.00 ORDINARY SHARE, OF A VALUE OF SGD 300,000.00

 

 

 

SALES

:

SGD 21,229,019 [2010]

NET WORTH

:

SGD 2,336,082 [2010]

 

 

 

STAFF STRENGTH

:

30 [2012]

BANKER (S)

:

STANDARD CHARTERED BANK

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

LIMITED

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH




HISTORY / BACKGROUND

 

The SC is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the SC must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the SC is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the SC is insolvent. The SC is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

 

The SC is principally engaged in the (as a / as an) trading of photocopier parts, consumables, printers.

 

The major shareholder(s) of the SC are shown as follows :

Name

Address

IC/PP/Loc No

Shareholding

(%)

LEE CHIN LEONG +

10K BRADDEL HILL, 03-40 BRADDEL VIEW, 579729, SINGAPORE.

S6908665I

153,000.00

51.00

FIORA GRANDE LTD

PASEA ESTATE, ROAD TOWN, TORTOLA, VIRGIN ISLANDS (BRITISH).

T03UF1398

147,000.00

49.00

 

 

 

---------------

------

 

 

 

300,000.00

100.00

 

 

 

============

=====

 

+ Also Director

 

DIRECTORS


DIRECTOR 1

Name Of Subject

:

OLIVER ONG YAN WAH

Address

:

BLK 129 CLARENCE LANE, #20-48, 140129, SINGAPORE.

IC / PP No

:

S6913731H

 

 

 

Date of Birth

:

26/04/1969

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

03/05/2005

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

Name Of Subject

:

LEE CHIN LEONG

Address

:

10K BRADDEL HILL, 03-40 BRADDEL VIEW, 579729, SINGAPORE.

IC / PP No

:

S6908665I

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

21/08/2007

 

 

 

 

 

 

 

 

 

 

 

 




MANAGEMENT

 

 

1)

Name of Subject

:

LEE CHIN LEONG

 

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

YAP BOH PIN & COMPANY

Auditor' Address

:

N/A

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

WONG FUNG SIN

 

IC / PP No

:

S2012761I

 

 

 

 

 

Address

:

7 BRISTOL ROAD, BRISTOL COURT, 219844, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

STANDARD CHARTERED BANK

 

 

 

 

 

The SC enjoys normal banking routine with above mentioned banker(s). The SC has bank charges with above mentioned banker(s).

 

 

ENCUMBRANCE (S)


ENCUMBRANCE 1

Date of Creation

:

10/04/2008

Description Of Charge

:

N/A

 

Amount Secured

:

N/A

Description Of Property Affected

:

N/A

 

Name & Address Of Chargee

:

STANDARD CHARTERED BANK

 

 

 

 

 

 

 

 

Form 40 Dated

Registered and Numbered C200803357 In The Register of Charges




LEGAL CHECK AGAINST SC


* A check has been conducted in our databank againt the SC whether the subject has been involved in any litigation. 

No legal action was found in our databank. 

No winding up petition was found in our databank. 


PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A

 

 

 


The SC refuse to provide their suppliers information. 

The SC refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

 

]

 

Good 31-60 Days

[

 

]

 

Average 61-90 Days

[

X

]

 

Fair 91-120 Days

[

 

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 



CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

 

 

 

 

 

 

 

 

 

Credit Term

:

N/A

 

 

 

 

 

 

Payment Mode

:

CHEQUES,TELEGRAPHIC TRANSFER (TT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



OPERATIONS

 

Goods Traded

:

PHOTOCOPIER PARTS, CONSUMABLES, PRINTERS, ETC

 

 

 

 

 

Total Number of Employees:

YEAR

2012

2011

 

GROUP

N/A

N/A

 

 

 

 

 

 

 

COMPANY

30

30

 

 

 

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The SC is principally engaged in the (as a / as an) trading of photocopier parts, consumables, printers.

The SC is a supplier for photocopier parts,consumables, printers, fax machines, etc

The SC's products are from different brands which includes Canon, Epson. Konica, Lexmark, Ricoh, etc


CURRENT INVESTIGATION


Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

65-68853338

Current Telephone Number

:

65-68853322

Match

:

NO

 

 

 

Address Provided by Client

:

46 PENJURU LANE, C & P LOGISTICS HUB, OFFICE TOWER 3, SINGAPORE 609206

Current Address

:

46 PENJURU LANE, C&P LOGISTICS HUB 1, OFFICE TOWER 2 HQ, LEVEL 3,, 609206, SINGAPORE.

Match

:

NO

 

Other Investigations

We contacted one of the staff from the Admin Department. She provided some information on the SC.
The address provided is incorrect.


FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Decreased

[

1.14%

]

 

Profit/(Loss) Before Tax

:

Decreased

[

126.58%

]

 

Return on Shareholder Funds

:

Unfavourable

[

<3.89%>

]

 

Return on Net Assets

:

Unfavourable

[

<1.29%>

]

 

 

 

 

 

 

 

 

The lower turnover could be due to the unfavourable market conditions.The SC incurred losses during the year due to the inefficient control of its operating costs. The SC's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Favourable

[

34 Days

]

 

Debtor Ratio

:

Unfavourable

[

84 Days

]

 

Creditors Ratio

:

Unfavourable

[

64 Days

]

 

 

 

 

 

 

 

 

The SC's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The high debtors' ratio could indicate that the SC was weak in its credit control. However, the SC could also giving longer credit periods to its customers in order to boost its sales or to capture / retain its market share. The unfavourable creditors' ratio could be due to the SC taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the SC and its suppliers and the SC may inadvertently have to pay more for its future supplies.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Favourable

[

1.08 Times

]

 

Current Ratio

:

Unfavourable

[

1.48 Times

]

 

 

 

 

 

 

 

 

A minimum liquid ratio of 1 should be maintained by the SC in order to assure its creditors of its ability to meet short term obligations and the SC was in a good liquidity position. Thus, we believe the SC is able to meet all its short term obligations as and when they fall due.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Unfavourable

[

<0.57 Times>

]

 

Gearing Ratio

:

Favourable

[

0.12 Times

]

 

 

 

 

 

 

 

 

The SC incurred losses in the year. It did not generate sufficient income to service its interest. If the situation does not improve, the SC may be vulnerable to default in servicing the interest. The SC was lowly geared thus it had a low financial risk. The SC was mainly financed by its shareholders' funds and internally generated funds. In times of economic slowdown / downturn, the SC being a lowly geared company, will be able to compete better than those companies which are highly geared in the same industry.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

The SC's losses could be attributed to the lower turnover which in turn could be the result of unfavourable market conditions. The SC was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the SC should be able to repay its short term obligations. The SC's interest cover was negative, indicating that it did not generate sufficient income to service its interest. If its result does not show impressive improvements or succeed obtaining short term financing or capital injection, it may not be able to service its interest and repay the loans. The SC as a lowly geared company, will be more secured compared to those highly geared companies. It has the ability to meet all its long term obligations.

 

 

 

 

 

 

 

Overall financial condition of the SC : LIMITED

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2006

2007

2008

2009

2010

 

 

 

 

 

 

Population (Million)

4.40

4.58

4.84

4.98

5.08

Gross Domestic Products ( % )

8.7

8.8

1.5

<0.8>

14.5

Consumer Price Index

1.0

2.1

6.6

0.6

2.8

Total Imports (Million)

378,924.1

395,979.7

450,892.6

356,299.3

423,221.8

Total Exports (Million)

431,559.2

450,627.7

476,762.2

391,118.1

478,840.7

 

 

 

 

 

 

Unemployment Rate (%)

2.7

2.3

2.2

3.2

2.2

Tourist Arrival (Million)

9.75

10.28

10.12

9.68

11.64

Hotel Occupancy Rate (%)

85.2

87.0

81.0

75.8

85.6

Cellular Phone Subscriber (Million)

1.05

1.22

1.31

1.37

1.43

 

 

 

 

 

 

Registration of New Companies (No.)

21,495

25,903

25,327

26,414

29,798

Registration of New Companies (%)

10.2

20.5

<2.2>

4.3

12.8

Liquidation of Companies (No.)

8,980

9,226

10,493

22,393

15,126

Liquidation of Companies (%)

28.1

2.7

13.7

113.4

<32.5>

 

 

 

 

 

 

Registration of New Businesses (No.)

24,219

24,762

24,850

26,876

23,978

Registration of New Businesses (%)

3.17

2.24

0.36

8.15

<10.78>

Liquidation of Businesses (No.)

26,843

21,322

21,150

23,552

24,211

Liquidation of Businesses (%)

<52.3>

<20.6>

<0.8>

11.4

2.8

 

 

 

 

 

 

Bankruptcy Orders (No.)

2,983

2,767

2,326

2,058

1,537

Bankruptcy Orders (%)

15.8

<7.2>

<15.9>

<11.5>

<25.3>

Bankruptcy Discharges (No.)

1,634

1,626

1,500

3,056

2,252

Bankruptcy Discharges (%)

<2.9>

<0.5>

<7.7>

103.7

<26.3>

 

 

 

 

 

 

INDUSTRIES ( % of Growth ) :

 

 

 

 

 

Agriculture

 

 

 

 

 

Production of Principal Crops

3.91

5.26

<0.32>

3.25

<0.48>

Fish Supply & Wholesale

1.33

<3.91>

<6.31>

<1.93>

3.60

 

 

 

 

 

 

Manufacturing *

94.4

100.0

95.8

91.8

119.1

Food, Beverages & Tobacco

89.9

100.0

107.7

102.7

109.5

Textiles

119.9

100.0

92.6

75.0

62.8

Wearing Apparel

114.5

100.0

71.8

45.3

26.4

Leather Products & Footwear

100.3

100.0

84.7

52.6

54.1

Wood & Wood Products

107.1

100.0

88.8

68.3

70.0

Paper & Paper Products

92.5

100.0

98.8

93.3

103.7

Printing & Media

97.6

100.0

96.7

82.5

84.7

Crude Oil Refineries

100.2

100.0

101.0

86.1

85.4

Chemical & Chemical Products

93.8

100.0

95.1

90.4

109.9

Pharmaceutical Products

102.1

100.0

92.8

104.4

159.9

Rubber & Plastic Products

100.1

100.0

92.2

77.6

86.1

Non-metallic Mineral

113.1

100.0

83.1

79.1

79.7

Basic Metals

110.0

100.0

120.9

101.9

112.5

Fabricated Metal Products

97.8

100.0

95.0

85.2

97.2

Machinery & Equipment

83.9

100.0

97.4

85.8

117.7

Electrical Machinery

98.8

100.0

98.1

104.2

149.1

Electronic Components

96.1

100.0

93.0

85.1

115.5

Transport Equipment

85.3

100.0

106.7

100.2

99.3

 

 

 

 

 

 

Construction

46.60

45.60

45.90

<36.9>

14.20

Real Estate

12.9

40.8

<11.2>

1.4

21.3

 

 

 

 

 

 

Services

 

 

 

 

 

Electricity, Gas & Water

<5.3>

11.00

<1.3>

1.70

4.00

Transport, Storage & Communication

6.00

8.50

11.60

3.90

12.80

Finance & Insurance

6.40

41.50

<5.9>

<16.4>

<0.4>

Government Services

13.50

3.80

17.40

4.50

9.70

Education Services

1.10

1.80

0.50

0.10

<0.9>

 

 

 

 

 

 

* Based on Index of Industrial Production (2007 = 100)

 

 

 

 

 

(Source : Department of Statistics)

 

 

 

 

 



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

 

 

 


The 1st Quarter 2012 total retail sales is expected to grow from a forecast SGD44.45bn (US$35.28bn) in 2011 to SGD51.50bn (US$46.82bn) by 2015. Singapore lacks the advantage of a massive consumer base, its low unemployment rate, the rapid influx of foreign immigrants and increasing visitor arrivals will continue to instill dynamism into the local retail scene and further buoy consumer spending.


The February 2011 budget provided a boost to consumer spending power, with the SGD6.6bn (US$5.2bn) Total Benefits package earmarked for households in 2011-2012 expected to have positive implications for the Singapore consumer.


In terms of retail sub-sectors, the over-the-counter pharmaceutical sector to be worth US$0.15bn in 2011 and for sales to increase by more than 35% to US$0.20bn by 2015. Sales of consumer electronics products are expected to increase by nearly 24%, from US$3.96bn in 2011 to US$4.90bn by the end of the forecast period on the back of strong demand for high-end products such as multimedia notebooks, 3G phones and smartphones.


The food retail segment will have a market share of 21.3% in 2011, when the sub-sector is forecast to be worth US$7.50bn. Sales are expected to grow to US$8.11bn by 2015.


Mass grocery retail sales are forecast to be US$3.46bn in 2011 and to grow by more than 25% to US$4.45bn by 2015, more than three times the rate of growth for overall food sales. This would take mass grocery retail's share of the overall food market from 45.7% in 2011 to 52.9% by the end of the forecast period.


Retail sales of Asian countries in 2011 are forecast US$3.13trn. China and India are predicted to account for nearly 91% of regional retail sales in 2011, and by 2015 their share of the regional market is expected to be more than 92%. Growth in regional retail sales for 2011-2015 is forecast at 71.6%, an annual average 14.4%. India should experience the most rapid rate of growth, followed by China. Singapore's market share of 1.1% in 2011 is forecast to fall to 0.8% by 2015.

 

 

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 1994, the SC is a Private Limited company, focusing on trading of photocopier parts, consumables and printers. Having been in the industry for over a decade, the SC has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. However, with a small paid up capital, the SC should put more efforts on its business to gain higher market share while competing aggressively in the market.


Over the years, the SC has penetrated into both the local and overseas market. The SC has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the SC to further enhance its business in the near term. Being a small company, the SC's business operation is supported by 30 employees. Overall, we regard that the SC's management capability is average.


Due to the challenging market conditions, the SC's business performance seems to be deteriorating and losses incurred. The SC has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Fortunately, the SC is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a lowly geared company, the SC is exposed to low financial risk as it is mainly dependent on its internal funds to finance its business needs. Given a positive net worth standing at SGD 2,336,082, the SC should be able to maintain its business in the near terms.


Having a strong assets backing, the SC possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises.


The SC's payment habit is average. With its adequate working capital, the SC should be able to pay its short term debts.


The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the SC is expected to benefit from the favourable outlook of the industry. The SC however faces moderate business risk as it has to compete with many well established players in the same field.


Based on the above condition, we recommend credit be granted to the SC normally.


PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

SINOTRON UNITED PTE LTD

 

Financial Year End

31/12/2010

31/12/2009

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

SGD

SGD

 

 

 

TURNOVER

21,229,019

21,474,474

 

----------------

----------------

Total Turnover

21,229,019

21,474,474

 

----------------

----------------

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

<90,141>

339,104

 

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

<90,141>

339,104

Taxation

<621>

<23,743>

 

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

<90,762>

315,361

 

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

As previously reported

2,126,844

1,811,483

 

----------------

----------------

As restated

2,126,844

1,811,483

 

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

2,036,082

2,126,844

 

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

2,036,082

2,126,844

 

=============

=============

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

Hire purchase

3,667

3,980

Term loan / Borrowing

15,533

13,597

Trust receipts

30,647

37,957

Others

7,597

5,956

 

----------------

----------------

 

57,444

61,490

 

 

 

BALANCE SHEET

 

 

SINOTRON UNITED PTE LTD

 

ASSETS EMPLOYED:

 

 

FIXED ASSETS

159,246

175,446

 

 

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

 

Subsidiary companies

-

60,028

 

----------------

----------------

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

-

60,028

 

 

 

 

----------------

----------------

TOTAL LONG TERM ASSETS

159,246

235,474

 

 

 

CURRENT ASSETS

 

 

Stocks

1,954,281

1,451,216

Trade debtors

4,876,091

3,277,845

Other debtors, deposits & prepayments

112,161

110,731

Short term deposits

101,208

100,955

Amount due from director

-

920

Cash & bank balances

254,407

283,894

 

----------------

----------------

TOTAL CURRENT ASSETS

7,298,148

5,225,561

 

----------------

----------------

TOTAL ASSET

7,457,394

5,461,035

 

=============

=============

 

 

 

CURRENT LIABILITIES

 

 

Trade creditors

3,694,292

1,774,700

Other creditors & accruals

1,015,239

1,021,212

Hire purchase & lease creditors

31,101

33,770

Short term borrowings/Term loans

67,593

67,942

Amounts owing to director

121,231

69,027

Provision for taxation

919

25,686

 

----------------

----------------

TOTAL CURRENT LIABILITIES

4,930,375

2,992,337

 

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

2,367,773

2,233,224

 

----------------

----------------

TOTAL NET ASSETS

2,527,019

2,468,698

 

=============

=============

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

300,000

300,000

 

----------------

----------------

TOTAL SHARE CAPITAL

300,000

300,000

 

 

 

RESERVES

 

 

Retained profit/(loss) carried forward

2,036,082

2,126,844

 

----------------

----------------

TOTAL RESERVES

2,036,082

2,126,844

 

 

 

 

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

2,336,082

2,426,844

 

 

 

LONG TERM LIABILITIES

 

 

Long term loans

164,708

-

Hire purchase creditors

9,579

25,517

Deferred taxation

16,650

16,337

 

----------------

----------------

TOTAL LONG TERM LIABILITIES

190,937

41,854

 

----------------

----------------

 

2,527,019

2,468,698

 

=============

=============

 

 

 

 

 

 

FINANCIAL RATIO

 

 

SINOTRON UNITED PTE LTD

 

TYPES OF FUNDS

 

 

Cash

355,615

384,849

Net Liquid Funds

355,615

384,849

Net Liquid Assets

413,492

782,008

Net Current Assets/(Liabilities)

2,367,773

2,233,224

Net Tangible Assets

2,527,019

2,468,698

Net Monetary Assets

222,555

740,154

BALANCE SHEET ITEMS

 

 

Total Borrowings

272,981

127,229

Total Liabilities

5,121,312

3,034,191

Total Assets

7,457,394

5,461,035

Net Assets

2,527,019

2,468,698

Net Assets Backing

2,336,082

2,426,844

Shareholders' Funds

2,336,082

2,426,844

Total Share Capital

300,000

300,000

Total Reserves

2,036,082

2,126,844

LIQUIDITY (Times)

 

 

Cash Ratio

0.07

0.13

Liquid Ratio

1.08

1.26

Current Ratio

1.48

1.75

WORKING CAPITAL CONTROL (Days)

 

 

Stock Ratio

34

25

Debtors Ratio

84

56

Creditors Ratio

64

30

SOLVENCY RATIOS (Times)

 

 

Gearing Ratio

0.12

0.05

Liabilities Ratio

2.19

1.25

Times Interest Earned Ratio

<0.57>

6.51

Assets Backing Ratio

8.42

8.23

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

<0.42>

1.58

Net Profit Margin

<0.43>

1.47

Return On Net Assets

<1.29>

16.23

Return On Capital Employed

<1.28>

16.01

Return On Shareholders' Funds/Equity

<3.89>

12.99

Dividend Pay Out Ratio (Times)

0.00

0.00

NOTES TO ACCOUNTS

 

 

Contingent Liabilities

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.57

UK Pound

1

Rs.87.90

Euro

1

Rs.71.53

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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 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.