MIRA INFORM REPORT

 

 

Report Date :

28.12.2012

 

IDENTIFICATION DETAILS

 

Name :

LUZERNE PTE. LTD.

 

 

Formerly Known As :

LANDEX SERVICES PTE LTD

 

 

Registered Office :

72 Bendemeer Road #02-22 Luzerne Singapore 339941

 

 

Country :

Singapore

 

 

Financials (as on) :

Dec 2010

 

 

Date of Incorporation :

30.08.1977

 

 

Com. Reg. No.:

197701904H

 

 

Legal Form :

Limited Exempt Private Company

 

 

Line of Business :

General wholesale trade (including general importers and exporters)

marketing, importer, exporter & sale of tableware, porcelain ware & chinaware

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Weak

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:

LUZERNE PTE. LTD.

197701904H

 

Date Incorporated:

Registered Office:

 

30/08/1977

72 BENDEMEER ROAD #02-22 LUZERNE SINGAPORE 339941

 

Age of Company:

Website:

 

35

NA

 

 

Risk Dashboard

Days Beyond Terms

Trend:

Company DTC:

NA

blank

The entity is paying current to the creditors

Industry DTC

24

 

Directors

 

Corporate Structure

Number of Current Directors

3

Holding Company:

NA

Number that are shareholders

10

No. of Subsidiaries & Associated Companies:

NA

 

 EXECUTIVE SUMMARY

 

Company Name

:

LUZERNE PTE. LTD.

Registration No

:

197701904H

Date of Registration

:

30/08/1977

Former Name

:

1.GOLDEN ERA PRIVATE LIMITED Eff. date : 30/08/1977 Eff. date : 30/08/1977

2.LANDEX SERVICES PTE LTD Eff. date : 22/11/1993 Eff. date : 22/11/1993

Date of Change of Name

:

12/09/2007

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

72 BENDEMEER ROAD #02-22 LUZERNE SINGAPORE 339941

Date of Change of Address

:

21/04/2008

Contact No.

:

6593 9988

Fax No.

:

6298 5988

Website

:

NA

Registered Activities

:

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

MARKETING, IMPORTER, EXPORTER & SALE OF TABLEWARE, PORCELAIN WARE & CHINAWARE

2. MANUFACTURE OF OTHER PORCELAIN AND CERAMIC PRODUCTS NEC

MANUFACTURE OF PORCELAIN AND CERAMIC TABLEWARE

Issued Ordinary Capital*

:

$3,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,000,000.00 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

:

NA

No. of Local Associates

:

NA

Auditor

:

UHY LEE SENG CHAN & CO.

Bankers / Financiers

:

NA

Turnover

:

SINGAPORE, DOLLARS 18,580,808.00 (FY2010)

Net Worth

:

SINGAPORE, DOLLARS (2,828,296.00) (FY2010)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

517 POSITION IN SME 1000 Companies Ranked by Sales/Turnover (2010/2011)

Compounded Annual Growth Rate (CAGR)

:

NA

 

 

SHAREHOLDER DETAILS

 

NAME

:

LEK SECK TIN

SHAREHOLDER ID

:

S0529822I

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

15 BELIMBING AVENUE SENNETT ESTATE SINGAPORE 349887

NO. OF ORD SHARES

:

1,076,937

% OF SHAREHOLDING

:

35.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LEK TING NGWENG

SHAREHOLDER ID

:

S0229080D

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

30 BAYSHORE ROAD #29-04 THE BAYSHORE SINGAPORE 469974

NO. OF ORD SHARES

:

896,399

% OF SHAREHOLDING

:

29.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LEK TING HOE

SHAREHOLDER ID

:

S1177165C

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

62 MARINE PARADE ROAD #19-08 COTE D'AZUR SINGAPORE 449298

NO. OF ORD SHARES

:

842,535

% OF SHAREHOLDING

:

28.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LUMAN LEK LONG KIAT

SHAREHOLDER ID

:

S7635971G

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

9 MULBERRY AVENUE SENNETT ESTATE SINGAPORE 348354

NO. OF ORD SHARES

:

60,698

% OF SHAREHOLDING

:

2%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LECK SEOK ENG

SHAREHOLDER ID

:

S1361397D

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

376 LAUREL WOOD AVENUE TENERIFFE, THE SINGAPORE 275971

NO. OF ORD SHARES

:

50,087

% OF SHAREHOLDING

:

1.7%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LEK CHIN KWONG

SHAREHOLDER ID

:

S7639587Z

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

31 JALAN RAMA RAMA #32-02 DE ROYALE SINGAPORE 329111

NO. OF ORD SHARES

:

17,976

% OF SHAREHOLDING

:

0.6%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

SHAREHOLDER DETAILS

 

NAME

:

LECK SIOH HONG

SHAREHOLDER ID

:

S0054852I

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

10 LORONG 25A GEYLANG #03-01 SINGAPORE 388224

NO. OF ORD SHARES

:

13,842

% OF SHAREHOLDING

:

0.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LECK SEOK CHOO

SHAREHOLDER ID

:

S0101671G

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

36 SENNETT ROAD SINGAPORE 466815

NO. OF ORD SHARES

:

13,842

% OF SHAREHOLDING

:

0.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LECK SEH LUI

SHAREHOLDER ID

:

S0239786B

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

199 TELOK KURAU ROAD #02-04 CADENCE LIGHT SINGAPORE 423833

NO. OF ORD SHARES

:

13,842

% OF SHAREHOLDING

:

0.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LECK GEK LAN

SHAREHOLDER ID

:

S0403929G

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

4 SARKIES ROAD #07-01 RISING SUITES SINGAPORE 258124

NO. OF ORD SHARES

:

13,842

% OF SHAREHOLDING

:

0.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

KOH GEOK HOON (MDM)

ADDRESS

:

12 TAI HWAN TERRACE TAI HWAN GARDEN SINGAPORE 555248

POSITION

:

SECRETARY

DATE OF APPT

:

01/01/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0188289I

 

NAME

:

LEK TING NGWENG

ADDRESS

:

30 BAYSHORE ROAD #29-04 THE BAYSHORE SINGAPORE 469974

POSITION

:

DIRECTOR

DATE OF APPT

:

26/09/1994

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0229080D

 

NAME

:

LEK SECK TIN

ADDRESS

:

15 BELIMBING AVENUE SENNETT ESTATE SINGAPORE 349887

POSITION

:

DIRECTOR

DATE OF APPT

:

19/07/1979

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0529822I

 

NAME

:

LEK TING HOE

ADDRESS

:

62 MARINE PARADE ROAD #19-08 COTE D'AZUR SINGAPORE 449298

POSITION

:

DIRECTOR

DATE OF APPT

:

01/06/1981

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1177165C

 

NAME

:

KOH EE KOON (MS)

ADDRESS

:

104 BEDOK RESERVOIR ROAD #04-362 SINGAPORE 470104

POSITION

:

SECRETARY

DATE OF APPT

:

01/01/2003

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1246901B

 

 

 

KEY PERSONNEL PROFILE

 

Name:

LEK SECK TIN

NRIC Number:

S0529822I

Available Address:

15 BELIMBING AVENUE SENNETT ESTATE  SINGAPORE 349887

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

HIAP HUAT HOLDINGS (PTE) LTD.

DIRECTOR

07/09/1978

9151464

35.89

2

HIAP HUAT POTTERY (PRIVATE) LIMITED

DIRECTOR

10/03/1973

2240625

50.00

3

LUZERNE PTE. LTD.

MANAGING DIRECTOR

01/06/1981

1076937

35.89

4

LUZERNE PTE. LTD.

DIRECTOR

19/07/1979

1076937

35.89

5

SKY VOICE PTE. LTD.

DIRECTOR

02/04/2009

102000

17.00

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

AMORE FITNESS PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

08/11/2012

2

CAMBODIANA INVESTMENT (S) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

30/09/1988

-

3

CAMBODIANA INVESTMENT (S) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

18/10/1988

-

4

CAMBODIANA INVESTMENT (S) PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

5

ELECON ENGINEERING (PTE) LTD.

DISSOLVED - COMPULSORY WINDING UP (INSOLVENCY)

SHAREHOLDER

-

26/12/2000

6

GREENFIELD TRAVEL AGENCY PTE L TD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

10/03/1981

-

7

GREENFIELD TRAVEL AGENCY PTE L TD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

 

 

KEY PERSONNEL PROFILE

 

8

H.M.C.S. PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

22/05/1997

-

9

H.M.C.S. PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

10

HH OFFSHORE SERVICES PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

03/06/1978

-

11

IGHT PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

17/02/2004

-

12

K. K. TRADING PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

17/12/1983

-

13

K. K. TRADING PTE. LTD.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

14

KAMSINCO TRADING PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

19/08/1988

-

15

KAMSINCO TRADING PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

MANAGING DIRECTOR

22/07/1988

-

16

KIRIN COURT SEAFOOD & SHARK'S FIN RESTAURANT PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

16/02/1984

-

17

KIRIN COURT SEAFOOD & SHARK'S FIN RESTAURANT PTE LTD

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

18

LANDEX (SINGAPORE) PTE LTD

LIVE COMPANY

DIRECTOR

03/06/1975

24/09/2012

19

LANDEX PRIVATE LIMITED.

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

24/09/1974

01/03/2002

20

LUCKY MERMAID PTE LTD

STRUCK OFF

DIRECTOR & SECRETARY

17/08/1981

-

 

 

KEY PERSONNEL PROFILE

 

21

LUCKY MERMAID PTE LTD

STRUCK OFF

MANAGING DIRECTOR

23/04/1982

-

22

LUCKY MERMAID PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

23

OTARI NANPO ELECTRONIC & SOUND INDUSTRIES (PTE) LTD

STRUCK OFF

MANAGING DIRECTOR

05/09/1979

-

24

OTARI NANPO ELECTRONIC & SOUND INDUSTRIES (PTE) LTD

STRUCK OFF

SHAREHOLDER

-

-

25

SEA SPORTS DIVERS PTE LTD

STRUCK OFF

DIRECTOR

02/12/1988

-

26

SEA SPORTS DIVERS PTE LTD

STRUCK OFF

SHAREHOLDER

-

-

 

Bankruptcy Record

 

(Status include petition filed, order made, discharge, annulment, set aside, rescinded and withdrawn)

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Note: Please purchase case details to know the latest status.

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

NA

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

 

 

LITIGATION  

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

29/06/2012

Date of Last AR

:

19/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

 

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).

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

18,580,808

NA

0

0

0

0

Profit/(Loss) Before Tax

892,273

NA

0

0

0

(3,258)

Profit After Tax attributable to Shareholders

544,367

NA

0

0

0

(3,258)

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

14,135,898

NA

0

0

0

20,988

Current Assets

8,530,835

NA

0

0

0

20,988

Non Current Assets

5,605,063

NA

0

0

0

0

 

 

 

 

 

 

 

Total Liabilities

16,964,194

NA

0

0

0

28,597

Current Liabilities

13,917,932

NA

0

0

0

28,597

Non Current Liabilities

3,046,262

NA

0

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

(2,828,296)

NA

0

0

0

(7,609)

Share Capital

3,000,000

NA

0

0

0

1,800,000

Total Reserves

(5,828,296)

NA

0

0

0

(1,807,609)

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

NA

NA

NA

NA

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

2.93

NA

NA

NA

NA

Return on Equity (%)

NA

NA

NA

NA

NA

Return on Assets (%)

3.85

NA

NA

NA

NA

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

NA

NA

NA

NA

NA

Current Debt/Equity (Times)

NA

NA

NA

NA

NA

Long Term Debt To Equity (Times)

NA

NA

NA

NA

NA

Total Asset To Total Equity (Times)

NA

NA

NA

NA

NA

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.31

NA

NA

NA

NA

Fixed Assets Turnover (Times)

3.32

NA

NA

NA

NA

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

0.61

NA

NA

NA

0.73

 

 

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

% Change

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Currency

SINGAPORE, DOLLARS

 

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

*

-100.00

1,344,726

0

0

0

Profit/(Loss) Before Tax

*

NA

(292,422)

(114,238)

14,781

0

Profit After Tax attributable

 to Shareholders

*

NA

(292,422)

(114,238)

14,781

0

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

5,198,889

6.31

4,890,522

3,699,704

10,440

10,914

Current Assets

1,488,190

32.90

1,119,771

146,168

10,440

10,911

Non Current Assets

3,710,699

-1.59

3,770,751

3,553,536

0

3

 

 

 

 

 

 

 

Total Liabilities

4,345,913

-17.96

5,297,470

3,814,230

10,728

25,983

Current Liabilities

1,299,651

73.83

747,641

3,814,230

10,728

25,983

Non Current Liabilities

3,046,262

-33.05

4,549,829

0

0

0

 

 

 

 

 

 

 

Shareholders' Funds

852,976

NA

(406,948)

(114,526)

(288)

(15,069)

Share Capital

3,000,000

66.67

1,800,000

1,800,000

1,800,000

1,800,000

Total Reserves

(2,147,024)

NA

(2,206,948)

(1,914,526)

(1,800,288)

(1,815,069)

 

 

 

 

 

 

 

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

 

 

FINANCIAL RATIOS

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

DEC 2006

Growth %

 

 

 

 

 

Year-on-Year Growth

-100.00

NA

NA

NA

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

0.00

-21.75

0.00

0.00

0.00

Return on Equity (%)

0.00

71.86

99.75

-5,132.29

0.00

Return on Assets (%)

0.00

-5.98

-3.09

141.58

0.00

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

5.10

-13.02

-33.30

-37.25

-1.72

Current Debt/Equity (Times)

1.52

0.00

0.00

0.00

0.00

Long Term Debt To Equity (Times)

3.57

0.00

0.00

0.00

0.00

Total Asset To Total Equity (Times)

6.10

-12.02

-32.30

-36.25

-0.72

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

0.00

0.27

0.00

0.00

0.00

Fixed Assets Turnover (Times)

0.00

0.36

0.00

0.00

0.00

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.15

1.50

0.04

0.97

0.42

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Profitability

The group yielded a rate of net profit on sales of 2.93 per cent in FY10. The group is now able to book in SINGAPORE, DOLLARS 0.03 of profit for every SINGAPORE, DOLLARS of sales.

 

Liquidity

 

Current ratio stood at 0.61 times in FY10. This means that the group has SINGAPORE, DOLLARS 0.61 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.

 

 

FINANCIAL COMMENTARY

 

Leverage

We are unable to comment on Subject's leverage.

 

Efficiency Ratio

 

 

We are unable to comment on Subject's return on equity.

 

Return on assets stood at 3.85 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 1.31 times in FY10. 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.54.84

UK Pound

1

Rs.88.54

Euro

1

Rs.72.63

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.