MIRA INFORM REPORT

 

 

Report Date :

14.12.2012

 

IDENTIFICATION DETAILS

 

Name :

VALENCY INTERNATIONAL TRADING PTE. LTD.

 

 

Registered Office :

10 Anson Road #17-23 International Plaza Singapore 079903

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

06.02.2007

 

 

Com. Reg. No.:

200702113R

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

General wholesale trade (including general importers and exporters)

 

 

No. of Employees :

Not Available 

 

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

 

 

Company Name:

Registered Number:

VALENCY INTERNATIONAL TRADING PTE. LTD.

200702113R

 

Date Incorporated:

Registered Office:

Telephone Number:

06/02/2007

10 ANSON ROAD #17-23 INTERNATIONAL PLAZA SINGAPORE 079903

6223 6141

Age of Company:

Website:

Industry Type:

5

www.valencyinternational.com

COMMERCE-WHOLESALE

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

40

up

Worse off than last month; last month the entity took 23 days to pay

No. of Charges(s):
23

Industry DTC

 

24

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NA

Number that are shareholders

3

No. of Subsidiaries & Associated Companies:

1

 

EXECUTIVE SUMMARY

 

Company Name

:

VALENCY INTERNATIONAL TRADING PTE. LTD.

Registration No

:

200702113R

Date of Registration

:

06/02/2007

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

10 ANSON ROAD #17-23 INTERNATIONAL PLAZA SINGAPORE 079903

Date of Change of Address

:

19/06/2007

Contact No.

:

6223 6141

Fax No.

:

6223 4252

Website

:

www.valencyinternational.com

Registered Activities

:

1. GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

2. WHOLESALE ON A FEE OR CONTRACT BASIS (EG COMMISSION AGENTS)

Issued Ordinary Capital*

:

$10,000,000.00 U.S. DOLLAR, NO. OF SHARE : 1,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$10,000,000.00 U.S. DOLLAR

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

:

1

No. of Local Associates

:

NA

Auditor

:

STAMFORD ASSOCIATES LLP

Bankers / Financiers

:

INDIAN BANK

BANK OF BARODA

BANK OF INDIA

BANGKOK BANK PUBLIC COMPANY LIMITED

HABIB BANK LIMITED

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

UNITED OVERSEAS BANK LIMITED

CITIBANK N.A.

RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT

OVERSEA-CHINESE BANKING CORPORATION LIMITED

UCO BANK

STANDARD CHARTERED BANK

Turnover

:

SGD - SIN 552,316,560.00 (FY2012)

Net Worth

:

SGD - SIN 30,557,753.00 (FY2012)

No. of Bank Charges

:

23

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

1107 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

Compounded Annual Growth Rate (CAGR)

:

NA

 

SHAREHOLDER DETAILS

 

NAME

:

PRAVEEN KUMAR JAIN

SHAREHOLDER ID

:

S2669189C

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

110 TANJONG RHU ROAD #05-05 CAMELOT BY-THE-WATER SINGAPORE 436928

 

 

 

% OF SHAREHOLDING

:

68%

CURRENCY

:

U.S. DOLLAR

 

NAME

:

PRADEEP MAHESHWARI

SHAREHOLDER ID

:

S7761157F

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

187 TANJONG RHU ROAD #14-07 SANCTUARY GREEN SINGAPORE 436925

NO. OF ORD SHARES

:

200,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

U.S. DOLLAR

 

NAME

:

BASBA NAND BALODI

SHAREHOLDER ID

:

S2706601A

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

10G BRADDELL HILL #24-27 BRADDELL VIEW SINGAPORE 579726

NO. OF ORD SHARES

:

120,000

% OF SHAREHOLDING

:

12%

CURRENCY

:

U.S. DOLLAR

 

 

OFFICER DETAILS

 

NAME

:

KOH HUI LIAK

ADDRESS

:

842 SIMS AVENUE #10-764 SINGAPORE 400842

POSITION

:

SECRETARY

DATE OF APPT

:

06/02/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0059247A

 

NAME

:

AJAIB HARI DASS

ADDRESS

:

17 JALAN INSAF THOMSON RISE ESTATE SINGAPORE 578013

POSITION

:

DIRECTOR

DATE OF APPT

:

29/05/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0889104D

 

NAME

:

PRAVEEN KUMAR JAIN

ADDRESS

:

110 TANJONG RHU ROAD #05-05 CAMELOT BY-THE-WATER SINGAPORE 436928

POSITION

:

DIRECTOR

DATE OF APPT

:

25/05/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2669189C

 

NAME

:

MRS SUNITA JAIN

ADDRESS

:

110 TANJONG RHU ROAD #05-05 CAMELOT SINGAPORE 436928

POSITION

:

DIRECTOR

DATE OF APPT

:

25/09/2007

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2669190G

 

 

KEY PERSONNEL PROFILE

 

Name:

PRAVEEN KUMAR JAIN

NRIC Number:

S2669189C

Available Address:

110 TANJONG RHU ROAD #05-05 CAMELOT BY-THE-WATER  SINGAPORE 436928

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

VALENCY INTERNATIONAL TRADING PTE. LTD.

DIRECTOR

25/05/2007

510000

68.00

2

VALENCY INTERNATIONAL TRADING PTE. LTD.

MANAGING DIRECTOR

25/05/2007

510000

68.00

3

VARDHMAN INVESTMENTS PTE. LTD.

DIRECTOR

14/06/2011

10

10.00

4

VARDHMAN INVESTMENTS PTE. LTD.

SHAREHOLDER

-

10

10.00

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

FRONTLINE ASIA INTERNATIONAL TRADING COMPANY PTE LTD

STRUCK OFF

DIRECTOR

17/09/2001

05/06/2007

2

FRONTLINE ASIA INTERNATIONAL TRADING COMPANY PTE LTD

STRUCK OFF

SHAREHOLDER

-

27/03/2008

3

OVERSEAS TRADING & SHIPPING CO PTE LTD

LIVE COMPANY

DIRECTOR

05/09/1998

06/12/2012

4

OVERSEAS TRADING & SHIPPING CO PTE LTD

LIVE COMPANY

SHAREHOLDER

-

06/12/2012

5

S.S. INFORMATICS PTE LTD

STRUCK OFF

DIRECTOR

18/03/1996

05/10/2002

6

SINGAPORE INDIAN CHAMBER OF COMMERCE & INDUSTRY

LIVE COMPANY

DIRECTOR

16/04/2004

30/11/2012

7

SURYA ABHA INVESTMENTS PTE. LTD.

LIVE COMPANY

DIRECTOR

21/03/2007

22/11/2012

8

SURYA ABHA INVESTMENTS PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

22/11/2012

9

SURYA KIRAN INVESTMENTS PTE. LTD.

LIVE COMPANY

DIRECTOR

16/03/2007

03/12/2012

10

SURYA KIRAN INVESTMENTS PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

03/12/2012

11

SURYA VINIYOG PTE. LTD.

LIVE COMPANY

DIRECTOR

12/03/2007

06/11/2012

12

SURYA VINIYOG PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

06/11/2012

13

SWISS SINGAPORE OVERSEAS ENTERPRISES PTE. LTD.

LIVE COMPANY

DIRECTOR

01/06/1997

13/12/2012

14

SWISS SINGAPORE OVERSEAS ENTERPRISES PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

13/12/2012

 

Bankruptcy Record

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Litigation Search – Writ of Summons

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

M

3928

-

2002

19/02/2002

 -

Negligence Related

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

VARDHMAN INVESTMENTS PTE. LTD.

90

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 23 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201212892

 

Date of Registration

:

08/11/2012

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617

 

2)

Charge No.

:

C201210599

 

Date of Registration

:

18/09/2012

 

Chargee

:

BANK OF BARODA

 

Amount Secured  and Currency

:

All Monies

 

Address

:

9 RAFFLES PLACE #34-02 REPUBLIC PLAZA SINGAPORE 048619

 

3)

Charge No.

:

C201200866

 

Date of Registration

:

18/01/2012

 

Chargee

:

BANK OF INDIA

 

Amount Secured  and Currency

:

All Monies

 

Address

:

138 ROBINSON ROAD #01-01/02-01/03-01 THE CORPORATE OFFICE SINGAPORE 068906

 

4)

Charge No.

:

C201110201

 

Date of Registration

:

16/08/2011

 

Chargee

:

BANGKOK BANK PUBLIC COMPANY LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

180 CECIL STREET BANGKOK BANK BUILDING SINGAPORE 069546

 

5)

Charge No.

:

C201108569

 

Date of Registration

:

14/07/2011

 

Chargee

:

BANGKOK BANK PUBLIC COMPANY LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

180 CECIL STREET BANGKOK BANK BUILDING SINGAPORE 069546

 

6)

Charge No.

:

C201107855

 

Date of Registration

:

29/06/2011

 

Chargee

:

HABIB BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 PHILLIP STREET #01-03 COMMERCE POINT SINGAPORE 048693

 

7)

Charge No.

:

C201107784

 

Date of Registration

:

28/06/2011

 

Chargee

:

HABIB BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 PHILLIP STREET #01-03 COMMERCE POINT SINGAPORE 048693

 

8)

Charge No.

:

C201107554

 

Date of Registration

:

22/06/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

9)

Charge No.

:

C201103495

 

Date of Registration

:

21/03/2011

 

Chargee

:

UNITED OVERSEAS BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

80 RAFFLES PLACE UOB PLAZA SINGAPORE 048624

 

10)

Charge No.

:

C201006029

 

Date of Registration

:

15/07/2010

 

Chargee

:

BANK OF BARODA

 

Amount Secured  and Currency

:

All Monies

 

Address

:

9 RAFFLES PLACE #34-02 REPUBLIC PLAZA SINGAPORE 048619

 

11)

Charge No.

:

C201005709

 

Date of Registration

:

06/07/2010

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

12)

Charge No.

:

C201002633

 

Date of Registration

:

29/03/2010

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617

 

13)

Charge No.

:

C201000460

 

Date of Registration

:

14/01/2010

 

Chargee

:

CITIBANK N.A.

 

Amount Secured  and Currency

:

200,000.00 U.S. DOLLAR

 

Address

:

3 TEMASEK AVENUE #12-00 CENTENNIAL TOWER SINGAPORE 039190

 

14)

Charge No.

:

C200907736

 

Date of Registration

:

25/11/2009

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617

 

15)

Charge No.

:

C200905589

 

Date of Registration

:

04/09/2009

 

Chargee

:

RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT

 

Amount Secured  and Currency

:

All Monies

 

Address

:

1 RAFFLES QUAY #38-01 ONE RAFFLES QUAY, NORTH TOWER SINGAPORE 048583

 

16)

Charge No.

:

C200905048

 

Date of Registration

:

17/08/2009

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617

 

17)

Charge No.

:

C200904872

 

Date of Registration

:

07/08/2009

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

18)

Charge No.

:

C200904870

 

Date of Registration

:

07/08/2009

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

65 CHULIA STREET #26-00 OCBC CENTRE SINGAPORE 049513

 

19)

Charge No.

:

C200904685

 

Date of Registration

:

29/07/2009

 

Chargee

:

UCO BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE #01-01 BHARAT BUILDING SINGAPORE 048617

 

20)

Charge No.

:

C200808755

 

Date of Registration

:

19/09/2008

 

Chargee

:

HABIB BANK LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 PHILLIP STREET #01-03 COMMERCE POINT SINGAPORE 048693

 

21)

Charge No.

:

C200709161

 

Date of Registration

:

26/10/2007

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

22)

Charge No.

:

C200709160

 

Date of Registration

:

26/10/2007

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

6 BATTERY ROAD SINGAPORE 049909

 

23)

Charge No.

:

C200705104

 

Date of Registration

:

03/07/2007

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

3 RAFFLES PLACE BHARAT BUILDING SINGAPORE 048617

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

31/08/2012

Date of Last AR

:

20/09/2012

Date of A/C Laid At Last AGM

:

31/03/2012
 

 

COMPLIANCE RATING FOR ANNUAL FILING

 

wImage225

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

Note:

 

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2012

Currency

SGD - SIN

Profit and Loss Key Figures

 

Turnover

552,316,560

Profit/(Loss) Before Tax

11,686,260

Profit After Tax attributable to Shareholders

10,495,894

 

 

Balance Sheet Key Figures

 

Total Assets

144,867,712

Current Assets

139,604,937

Non Current Assets

5,262,775

 

 

Total Liabilities

114,309,960

Current Liabilities

110,123,671

Non Current Liabilities

4,186,289

 

 

Shareholders' Funds

30,557,753

Share Capital

9,382,500

Total Reserves

21,175,253

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2012

Growth %

 

Year-on-Year Growth

NA

 

 

Profitability

 

Profit Margin (%)

1.90

Return on Equity (%)

34.35

Return on Assets (%)

7.25

 

 

Leverage

 

Total Debt/Equity (Times)

3.74

Current Debt/Equity (Times)

3.60

Long Term Debt To Equity (Times)

0.14

Total Asset To Total Equity (Times)

4.74

 

 

Asset Management

 

Total Assets Turnover (Times)

3.81

Fixed Assets Turnover (Times)

104.95

 

 

Liquidity

 

Current Ratio (Times)

1.27

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

MAR 2012

% Change

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

552,316,560

57.19

351,376,977

183,886,034

157,113,349

109,973,505

Profit/(Loss) Before Tax

11,647,823

11.79

10,419,758

2,599,714

2,459,224

1,439,237

Profit After Tax attributable

 to Shareholders

10,457,457

11.59

9,371,271

2,340,072

2,202,851

1,120,052

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

143,568,645

70.07

84,415,429

37,670,448

18,211,438

22,272,690

Current Assets

140,113,660

73.85

80,596,758

37,604,615

18,108,528

22,134,588

Non Current Assets

3,454,985

-9.52

3,818,671

65,833

102,910

138,102

 

 

 

 

 

 

 

Total Liabilities

113,049,341

79.11

63,118,758

24,864,273

9,782,486

18,196,880

Current Liabilities

110,029,040

84.95

59,492,567

23,715,497

9,658,926

18,053,761

Non Current Liabilities

3,020,301

-16.71

3,626,191

1,148,776

123,560

143,119

 

 

 

 

 

 

 

Shareholders' Funds

30,519,305

43.31

21,296,670

12,806,175

8,428,952

4,075,810

Share Capital

9,382,500

41.30

6,640,000

7,125,710

5,048,225

2,955,758

Total Reserves

21,136,805

44.21

14,656,670

5,680,465

3,380,727

1,120,052

 

 

FINANCIAL RATIOS 

 

 

Company

 

MAR 2012

MAR 2011

MAR 2010

MAR 2009

MAR 2008

Growth %

 

 

 

 

 

Year-on-Year Growth

57.19

91.08

17.04

42.86

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.89

2.67

1.27

1.40

1.02

Return on Equity (%)

34.27

44.00

18.27

26.13

27.48

Return on Assets (%)

7.28

11.10

6.21

12.10

5.03

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

3.70

2.96

1.94

1.16

4.46

Current Debt/Equity (Times)

3.61

2.79

1.85

1.15

4.43

Long Term Debt To Equity (Times)

0.10

0.17

0.09

0.01

0.04

Total Asset To Total Equity (Times)

4.70

3.96

2.94

2.16

5.46

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

3.85

4.16

4.88

8.63

4.94

Fixed Assets Turnover (Times)

159.86

92.02

2,793.22

1,526.71

796.32

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.27

1.35

1.59

1.87

1.23

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

 

Profitability

The group yielded a rate of net profit on sales of 1.90 per cent in FY12. The group is now able to book in SGD - SIN 0.02 of profit for every SGD - SIN of sales.

 

 

Liquidity

 

Current ratio stood at 1.27 times in FY12. This means that the group has SGD - SIN 1.27 of current assets for every SGD - SIN 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 3.74 times in FY12. This means that the group requires additional external financing of SGD - SIN 3.74 for every SGD - SIN 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 34.35 per cent for Subject in the current financial period. 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 7.25 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 3.81 times in FY12. 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.54.23

UK Pound

1

Rs.87.53

Euro

1

Rs.70.94

 

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

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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.