MIRA INFORM REPORT

 

 

Report Date :

22.12.2012

 

IDENTIFICATION DETAILS

 

Name :

WORLDWIDE UNIX (S) PTE LTD

 

 

Registered Office :

151 Pasir Panjang Road Pasir Panjang Distripark, 118480

 

 

Country :

Singapore

 

 

Financials (as on) :

30.04.2012

 

 

Date of Incorporation :

17.02.1990

 

 

Com. Reg. No.:

199000745-K

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Freight Forwarding

 

 

No. of Employees :

30 [2012]

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

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 – 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.

:

199000745-K

COMPANY NAME

:

WORLDWIDE UNIX (S) PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

17/02/1990

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

151 PASIR PANJANG ROAD PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.

BUSINESS ADDRESS

:

151 PASIR PANJANG ROAD PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.

TEL.NO.

:

65-62722792

FAX.NO.

:

65-62723130

CONTACT PERSON

:

KADOGUCHI ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

FREIGHT FORWARDING

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

:

USD 80,209,982 [2012]

NET WORTH

:

USD 1,476,102 [2012]

STAFF STRENGTH

:

30 [2012]

LITIGATION

:

TRACED

FINANCIAL CONDITION

:

POOR

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MATURE

 

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) freight forwarding.

 

The immediate and ultimate holding company of the SC is WORLDWIDE CORPORATION CO. LTD, a company incorporated in JAPAN.

 

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

Name

Address

IC/PP/Loc No

Shareholding

(%)

HIROTOSHI KADOGUCHI +

313 PASIR PANJANG ROAD, 03-07, 117482, SINGAPORE.

S2745923D

60,000.00

20.00

SHUJI OZAWA +

15-27 4-CHOME SONE-NISHI MACHI,TOYONAKA, OSAKA, JAPAN.

TG3141864

60,000.00

20.00

TAN BEE LING +

23 WEST COAST CRESCENT, 14-08, BLUE HORIZON, 128046, SINGAPORE.

S1821922J

6,000.00

2.00

WORLDWIDE CORPORATION CO. LTD

KOLMAR KITAHAMA BUILDING 5F, 1-6-19, IMABASHI CHUO-KU, OSAKA, 541-0042, JAPAN.

T06UF0339G

174,000.00

58.00

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

------

300,000.00

100.00

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

=====

 

+ Also Director

 

The SC interest in other companies (Subsidiaries/Associates) are shown as follow :

Local No

Company

(%)

As At

PT WORLDWIDE INDONESIA

99

30/04/2012

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

TAN BEE LING

Address

:

23 WEST COAST CRESCENT, 14-08, BLUE HORIZON, 128046, SINGAPORE.

IC / PP No

:

S1821922J

Nationality

:

SINGAPOREAN

Date of Appointment

:

18/04/2002

 

DIRECTOR 2

Name Of Subject

:

HIROTOSHI KADOGUCHI

Address

:

313 PASIR PANJANG ROAD, 03-07, 117482, SINGAPORE.

IC / PP No

:

S2745923D

Nationality

:

SINGAPOREAN

Date of Appointment

:

17/02/1990

 

DIRECTOR 3

Name Of Subject

:

SHUJI OZAWA

Address

:

15-27 4-CHOME SONE-NISHI MACHI,TOYONAKA, OSAKA, JAPAN.

IC / PP No

:

TG3141864

Nationality

:

JAPANESE

Date of Appointment

:

17/02/1990



MANAGEMENT

 

 

 

1)

Name of Subject

:

KADOGUCHI

Position

:

MANAGING DIRECTOR

 

 

AUDITOR

 

Auditor

:

INFINITY ASSURANCE LLP

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

TAN KIM GUAN

IC / PP No

:

S1550820E

Address

:

56, BUKIT BATOK STREET 31, 21-15 MADEIRA, 659445, SINGAPORE.

 

 

BANKING


No Banker found in our databank. 


ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation. 

LEGAL CHECK AGAINST SC


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

LEGAL ACTION

 

 

Code No

:

99

Case No

:

2899

Year

:

2006

Place

:

SINGAPORE

Court

:

DISTRICT COURT

Date Filed

:

31/07/2006

Plaintiff

:

TEO CHUN GUAN (ZHAO JUNYUAN)

Defendants

:

WORLDWIDE UNIX (S) PTE LTD (199000745)

151 PASIR PANJANG ROAD, 03-01, PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.

Amount Claimed

:

85,000.00

Nature of Claim

:

SGD

Remark

:

TORT-NEGLIGENCE

Code No

:

99

Case No

:

5851

Year

:

2009

Place

:

SINGAPORE

Court

:

MAGISTRATE COURT

Date Filed

:

25/02/2009

Plaintiff

:

NG SOH CHEOW & CHAN CHIN LING

Defendants

:

WORLDWIDE UNIX (S) PTE LTD (199000745)

151 PASIR PANJANG ROAD, 03-01, PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.

Amount Claimed

:

3,588.00

Nature of Claim

:

SGD

Remark

:

TORT-NEGLIGENCE

 

NOTE:

Please check with creditors for confirmation as alleged debts may have been paid since recorded or are being disputed. The person wo has been sued has the same name as the subject. However, we are unable to determine whether the person sued is the one and the same person.



No winding up petition was found in our databank

 

 

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The SC is a service provider and it does not deal with trade suppliers. 

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

Export Market

:

WORLDWIDE

Credit Term

:

AS AGREED

Payment Mode

:

CHEQUES,TELEGRAPHIC TRANSFER (TT)

 

OPERATIONS

 

Services

:

FREIGHT FORWARDING

 

Total Number of Employees:

YEAR

2012

GROUP

N/A

COMPANY

30

 

Branch

:

NO

 

Other Information:

The SC is principally engaged in the (as a / as an) freight forwarding.

The SC is an established international procurement and freight forwarding company.

The SC provides its services according to its customers' requirements. 

 

CURRENT INVESTIGATION


Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

6562722792

Current Telephone Number

:

65-62722792

Match

:

YES

Address Provided by Client

:

151 PASIR PANJANG RD PASIR PANJANG DISTRIPARK,118480

Current Address

:

151 PASIR PANJANG ROAD PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.

Match

:

YES

 

Other Investigations

we contacted one of the staff from the SC and she provided some information on the SC.

The SC refused to disclose its bankers.


FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Decreased

[

2010 - 2012

]

Profit/(Loss) Before Tax

:

Decreased

[

2010 - 2012

]

Return on Shareholder Funds

:

Unfavourable

[

1.49%

]

Return on Net Assets

:

Acceptable

[

10.27%

]

The continuous fall in turnover could be due to the lower demand for the SC's products / services.The SC's profit fell sharply because of the high operating costs incurred. The unfavourable return on shareholders' funds could indicate that the SC was inefficient in utilising its assets to generate returns.

Working Capital Control

Stock Ratio

:

Acceptable

[

64 Days

]

Debtor Ratio

:

Unfavourable

[

129 Days

]

Creditors Ratio

:

Unfavourable

[

141 Days

]

The SC kept adequate stocks to meet its normal business transactions without incurring excessive storage costs. The SC's debtors ratio was high. The SC should tighten its credit control and improve its collection period. 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

:

Unfavourable

[

0.70 Times

]

Current Ratio

:

Unfavourable

[

1.03 Times

]

A low liquid ratio means that the SC may be facing working capital deficiency. If the SC cannot obtain additional

financing or injection of fresh capital, it may face difficulties in meeting its short term obligations.

Solvency

Interest Cover

:

Unfavourable

[

1.40 Times

]

Gearing Ratio

:

Unfavourable

[

6.65 Times

]

The SC's interest cover was low. If its profits fall or when interest rate rises, it may not be able to meet all its interest payment. The SC was highly geared, thus it had a high financial risk. The SC was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the SC will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the SC has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the SC's turnover and the interest it needs to pay.

Overall Assessment :

The SC's performance deteriorated over the years with lower turnover and profit. Due to its weak liquidity position, the SC will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the SC. If there is a fall in the SC's profit or any increase in interest rate, the SC may not be able to generate sufficient cash-flow to service its interest. The SC's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates.

Overall financial condition of the SC : POOR

 

 

 

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 :

TRANSPORTATION


Outlook for the aviation and shipping industries have turned gloomy as global travel and trade are likely to remain subdued in 2012.


Business confidence and global air freight volumes, which usually fall ahead of air travel traffic during downturns, have been declining in the year 2011. Both these indicators point to weakening demand in air travel. Together with high jet fuel prices, which have averaged 29% higher than in the year 2010, there is a prevalent pessimism surrounding the aviation sub-sector.


Aviation service providers' outlook is also gloomy, but longer term prospects are intact. The air of pessimism that currently surrounds the aviation industry may, in the near term, cascade down to the maintenance, repair and overhaul service providers and ground handlers. Global air travel traffic is projected to continue growing in the long term and the global passenger aircraft fleet is forecasted to double by 2030.


The land transportation sub-sector in Singapore has no viable large-scale substitute. Ridership levels are unlikely to dip regardless of economic cycles, as long as the infrastructure maintains its relevance and the cost of private car ownership remain out-of-reach for a majority of the populace.


The uncertain economic outlook ahead continues to weigh down on business confidence, which in turn negatively impacts global travel and trade volume.

OVERALL INDUSTRY OUTLOOK : MATURE



CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 1990, the SC is a Private Limited company, focusing on freight forwarding. The SC has been in business for over two decades. It has built up a strong clientele base and good reputation will enable the SC to further enhance its business in the near term. The SC is expected to enjoy a stable market shares. Having strong support from its holding company has enabled the SC to remain competitive despite the challenging business environment. The SC is considered as a medium size company with issued and paid up capital standing at SGD 300,000.


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. This indicates that the SC has greater potential to improve its business performance and raising income for the SC.


The SC's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. The SC has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Due to its weak liquidity position, the SC may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the SC. The high gearing ratio clearly implied that the SC was supported by more debt than equity. Thus, the SC is exposed to high financial risk. Given a positive net worth standing at USD 1,476,102, 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 has reached its optimum level and is generally stable. It is saturated and very competitive. Thus, the SC's growth prospect is very much depends on its capacity in sustaining its performance in the market.


In view of the above, we recommend credit be granted to the SC with close monitoring.

 

 

PROFIT AND LOSS ACCOUNT

 

 

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

WORLDWIDE UNIX (S) PTE LTD

 

Financial Year End

30/04/2012

30/04/2011

30/04/2010

Months

12

12

12

Consolidated Account

GROUP

GROUP

GROUP

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

TURNOVER

80,209,982

119,914,420

191,828,918

Other Income

145,490

191,985

392,421

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

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

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

Total Turnover

80,355,472

120,106,405

192,221,339

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

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

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

PROFIT/(LOSS) FROM OPERATIONS

45,365

530,555

781,197

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

45,365

530,555

781,197

Taxation

<23,418>

<88,461>

<158,883>

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

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

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

PROFIT/(LOSS) AFTER TAXATION

21,947

442,094

622,314

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

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

1,283,911

1,000,472

949,791

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

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

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

As restated

1,283,911

1,000,472

949,791

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

1,305,858

1,442,566

1,572,105

DIVIDENDS - Ordinary (paid & proposed)

-

<158,655>

<571,633>

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,305,858

1,283,911

1,000,472

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

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

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

INTEREST EXPENSE (as per notes to P&L)

Term loan / Borrowing

43,030

-

-

Others

71,202

125,150

128,462

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

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

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

114,232

125,150

128,462

 

 

 

BALANCE SHEET

 

 

WORLDWIDE UNIX (S) PTE LTD

 

ASSETS EMPLOYED:

FIXED ASSETS

46,054

42,808

61,049

LONG TERM INVESTMENTS/OTHER ASSETS

Deferred assets

23,325

20,666

17,806

Others

39,020

39,020

39,020

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

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

62,345

59,686

56,826

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

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

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

TOTAL LONG TERM ASSETS

108,399

102,494

117,875

CURRENT ASSETS

Stocks

14,016,247

3,257,042

16,148,581

Trade debtors

28,401,800

4,605,975

20,707,534

Other debtors, deposits & prepayments

150,410

259,191

560,665

Amount due from holding company

19,106

-

-

Cash & bank balances

365,234

592,968

530,182

Others

208,123

-

-

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

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

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

TOTAL CURRENT ASSETS

43,160,920

8,715,176

37,946,962

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

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

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

TOTAL ASSET

43,269,319

8,817,670

38,064,837

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

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

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

CURRENT LIABILITIES

Trade creditors

31,022,226

6,357,421

23,437,423

Other creditors & accruals

848,074

606,948

2,485,285

Short term borrowings/Term loans

9,814,617

124,190

10,179,926

Amounts owing to holding company

2,483

2,886

2,526

Provision for taxation

28,257

43,183

161,547

Dividends payable/proposed

-

158,655

571,633

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

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

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

TOTAL CURRENT LIABILITIES

41,715,657

7,293,283

36,838,340

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

1,445,263

1,421,893

1,108,622

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

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

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

TOTAL NET ASSETS

1,553,662

1,524,387

1,226,497

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

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

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

SHARE CAPITAL

Ordinary share capital

167,790

167,790

167,790

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

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

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

TOTAL SHARE CAPITAL

167,790

167,790

167,790

RESERVES

Capital reserve

2,454

2,454

2,454

Retained profit/(loss) carried forward

1,305,858

1,283,911

1,000,472

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

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

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

TOTAL RESERVES

1,308,312

1,286,365

1,002,926

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

1,476,102

1,454,155

1,170,716

LONG TERM LIABILITIES

Deferred taxation

5,125

5,125

5,125

Retirement benefits provision

72,435

65,107

50,656

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

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

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

TOTAL LONG TERM LIABILITIES

77,560

70,232

55,781

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

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

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

1,553,662

1,524,387

1,226,497

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

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

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

 

 

FINANCIAL RATIO

 

 

WORLDWIDE UNIX (S) PTE LTD

 

TYPES OF FUNDS

Cash

365,234

592,968

530,182

Net Liquid Funds

365,234

592,968

530,182

Net Liquid Assets

<12,570,984>

<1,835,149>

<15,039,959>

Net Current Assets/(Liabilities)

1,445,263

1,421,893

1,108,622

Net Tangible Assets

1,553,662

1,524,387

1,226,497

Net Monetary Assets

<12,648,544>

<1,905,381>

<15,095,740>

BALANCE SHEET ITEMS

Total Borrowings

9,814,617

124,190

10,179,926

Total Liabilities

41,793,217

7,363,515

36,894,121

Total Assets

43,269,319

8,817,670

38,064,837

Net Assets

1,553,662

1,524,387

1,226,497

Net Assets Backing

1,476,102

1,454,155

1,170,716

Shareholders' Funds

1,476,102

1,454,155

1,170,716

Total Share Capital

167,790

167,790

167,790

Total Reserves

1,308,312

1,286,365

1,002,926

LIQUIDITY (Times)

Cash Ratio

0.01

0.08

0.01

Liquid Ratio

0.70

0.75

0.59

Current Ratio

1.03

1.19

1.03

WORKING CAPITAL CONTROL (Days)

Stock Ratio

64

10

31

Debtors Ratio

129

14

39

Creditors Ratio

141

19

45

SOLVENCY RATIOS (Times)

Gearing Ratio

6.65

0.09

8.70

Liabilities Ratio

28.31

5.06

31.51

Times Interest Earned Ratio

1.40

5.24

7.08

Assets Backing Ratio

9.26

5.08

4.09

PERFORMANCE RATIO (%)

Operating Profit Margin

0.06

0.44

0.41

Net Profit Margin

0.03

0.37

0.32

Return On Net Assets

10.27

43.01

74.17

Return On Capital Employed

10.27

43.01

74.17

Return On Shareholders' Funds/Equity

1.49

30.40

53.16

Dividend Pay Out Ratio (Times)

0.00

0.36

0.92

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.07

UK Pound

1

Rs.89.54

Euro

1

Rs.72.77

 

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.