MIRA INFORM REPORT

 

 

Report Date :           

24.05.2012

 

IDENTIFICATION DETAILS

 

Name :

AGROCORP INTERNATIONAL PTE LTD

 

 

Registered Office :

10 Anson Road #34-04-06 International Plaza Singapore 079903

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2011 (Group)

 

 

Date of Incorporation :

27.10.1990

 

 

Com. Reg. No.:

199005306N

 

 

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 :

Exists

 

 

NOTES:

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

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

Singapore

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Executive Summary

 

Company Name

:

AGROCORP INTERNATIONAL PTE LTD

Registration No

:

199005306N

Date of Registration

:

27/10/1990

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED EXEMPT PRIVATE COMPANY

Registered Address

:

10 ANSON ROAD #34-04-06 INTERNATIONAL PLAZA SINGAPORE 079903

Date of Change of Address

:

13/03/2009

Contact No.

:

6534 4878

Fax No.

:

6534 4689

Website

:

www.agrocorp.com.sg

Registered Activities

:

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

2. COMMODITY AND FUTURES BROKERS AND DEALERS

Issued Ordinary Capital*

:

$4,000,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 4,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$4,000,000.00 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

:

1

No. of Local Associates

:

NA

Auditor

:

BAKER TILLY TFW LLP

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

INDIAN BANK

RAIFFEISEN BANK INTERNATIONAL AG

KBC BANK N.V.

STANDARD CHARTERED BANK

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

OVERSEA-CHINESE BANKING CORPORATION LIMITED

BNP PARIBAS

DBS BANK LTD.

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

UCO BANK

RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT

NATIXIS

Turnover

:

SGD - SIN 1,786,606,909.00 (FY2011)

Net Worth

:

SGD - SIN 48,942,634.00 (FY2011)

No. of Bank Charges

:

31

No. of Litigation Suits

:

8

S1000 / SME 500 / FG50 Ranking

:

210 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

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

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

901 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2008/2009)

160 POSITION IN Singapore 1000 Companies Ranked by Return on Equities (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

28.94% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

IYENGAR VIJAYKUMAR GOPALAN

SHAREHOLDER ID

:

S2592639J

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

65 CORONATION ROAD SINGAPORE 269464

NO. OF ORD SHARES

:

2,742,857

% OF SHAREHOLDING

:

68.6%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

RAGHAVAN RAVI

SHAREHOLDER ID

:

S2656911G

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

99 MEYER ROAD #26-01 SOVEREIGN, THE SINGAPORE 437920

NO. OF ORD SHARES

:

994,286

% OF SHAREHOLDING

:

24.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

AKILA VIJAY IYENGAR

SHAREHOLDER ID

:

S2592640D

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

65 CORONATION ROAD SINGAPORE 269464

NO. OF ORD SHARES

:

262,857

% OF SHAREHOLDING

:

6.6%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

IYENGAR VIJAYKUMAR GOPALAN

ADDRESS

:

65 CORONATION ROAD SINGAPORE 269464

POSITION

:

DIRECTOR

DATE OF APPT

:

16/11/1990

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2592639J

 

NAME

:

AKILA VIJAY IYENGAR

ADDRESS

:

65 CORONATION ROAD SINGAPORE 269464

POSITION

:

DIRECTOR

DATE OF APPT

:

17/07/1997

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2592640D

 

NAME

:

RAGHAVAN RAVI

ADDRESS

:

99 MEYER ROAD #26-01 SOVEREIGN, THE SINGAPORE 437920

POSITION

:

DIRECTOR

DATE OF APPT

:

27/04/1994

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2656911G

 

NAME

:

NG SIEW ENG @ HUANG XIUYING

ADDRESS

:

667C JURONG WEST STREET 65 #16-139 SINGAPORE 643667

POSITION

:

SECRETARY

DATE OF APPT

:

05/01/2012

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S7818021H

 

 

KEY PERSONNEL PROFILE

 

Name:

IYENGAR VIJAYKUMAR GOPALAN

NRIC Number:

S2592639J

Available Address:

65 CORONATION ROAD  SINGAPORE 269464

 

 

Current Business Interest

No.

Name

Position

Appt Date

#of Share

%

1

AAVISHKAAR INTERNATIONAL LIMITED

SHAREHOLDER

-

10000

0.57

2

AGROCORP INTERNATIONAL PTE LTD

DIRECTOR

16/11/1990

2742857

68.57

3

AMBIT SINGAPORE PTE. LTD.

DIRECTOR

09/10/2006

-

-

4

ASIAN MEDIA EDUCATION CENTRE PTE. LTD.

DIRECTOR

27/01/2005

2

50.00

5

ASIAN MEDIA EDUCATION CENTRE PTE. LTD.

SECRETARY

27/01/2005

2

50.00

6

COMPASS POINT TOURS PTE. LTD.

DIRECTOR

04/03/2006

2

25.00

7

COMPASS POINT TOURS PTE. LTD.

SECRETARY

04/09/2006

2

25.00

8

FINANCIAL TECHNOLOGIES SINGAPORE PTE. LTD.

DIRECTOR

15/04/2009

-

-

9

INDIA INTERNATIONAL INSURANCE PTE LTD

DIRECTOR

24/08/2009

-

-

10

INDIASE MEDIA PTE. LTD.

ALTERNATE DIRECTOR

02/09/2010

-

-

11

MGM IMPEX PTE. LTD.

DIRECTOR

12/01/2010

12500

12.50

12

PARAMESWARA HOLDINGS LTD

DIRECTOR

10/06/2004

-

-

13

RAMCO SYSTEMS PTE. LTD.

DIRECTOR

17/10/1995

-

-

14

SHALIGRAM HOLDINGS PTE. LTD.

DIRECTOR

24/06/2011

68

68.00

15

SINGAPORE MERCANTILE EXCHANGE CLEARING CORPORATION PTE. LTD.

DIRECTOR

03/07/2007

-

-

16

SINGAPORE MERCANTILE EXCHANGE PTE. LTD.

DIRECTOR

11/01/2007

-

-

17

SRI KOWSHIKI INTERNATIONAL PTE LTD

DIRECTOR

30/12/1991

-

-

18

SRI KOWSHIKI INTERNATIONAL PTE LTD

SECRETARY

14/07/2004

-

-

19

TRANSAGRO SHIPPING PTE. LTD.

DIRECTOR

04/09/2002

16501

50.00

20

ZEALCITY STUDIOS PTE. LTD.

DIRECTOR

01/06/2011

-

-

 

 

Previous Business

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

BLISSMORE HOLDINGS PTE. LTD.

LIVE COMPANY

DIRECTOR

26/01/2001

02/11/2011

2

COUNTERCORP LIMITED

DISSOLVED (FOREIGN CO)

AGENT

30/10/1986

-

3

COUNTERCORP TRADING PTE LTD

LIVE COMPANY

DIRECTOR

01/06/1988

31/08/2010

4

EDC@SICCI PTE. LTD.

LIVE COMPANY

DIRECTOR

01/09/2007

02/10/2010

5

INTRA BUSINESS PTE LTD

LIVE COMPANY

SHAREHOLDER

-

17/08/2011

6

PROTON SHIPPING AND TRADING PTE LTD

STRUCK OFF

DIRECTOR

27/03/1997

24/02/2010

7

RAMCO SYSTEMS PTE. LTD.

LIVE COMPANY

SHAREHOLDER

-

31/10/2011

8

ROADWAVES WIRELESS TECHNOLOGIES PTE. LTD.

STRUCK OFF

DIRECTOR

20/10/2005

-

9

SICCI TRADE MATCH INFORMATION NETWORK (S) PTE. LTD.

LIVE COMPANY

DIRECTOR

01/10/2004

16/01/2012

10

SINGAPORE INDIAN CHAMBER OF COMMERCE & INDUSTRY

LIVE COMPANY

DIRECTOR

16/04/2004

26/05/2011

 

Bankruptcy Record

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

Litigation Search – Writ of Summons

Court

Case No.

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

INTRA BUSINESS PTE LTD

100

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 31 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201201346

 

Date of Registration

:

03/02/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

2)

Charge No.

:

C201200779

 

Date of Registration

:

17/01/2012

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

3)

Charge No.

:

C201105608

 

Date of Registration

:

10/05/2011

 

Chargee

:

RAIFFEISEN BANK INTERNATIONAL AG

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

4)

Charge No.

:

C201104043

 

Date of Registration

:

01/04/2011

 

Chargee

:

KBC BANK N.V.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

5)

Charge No.

:

C201103374

 

Date of Registration

:

18/03/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

6)

Charge No.

:

C201012446

 

Date of Registration

:

22/12/2010

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

7)

Charge No.

:

C201011510

 

Date of Registration

:

29/11/2010

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

8)

Charge No.

:

C201011235

 

Date of Registration

:

24/11/2010

 

Chargee

:

AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

9)

Charge No.

:

C201009476

 

Date of Registration

:

14/10/2010

 

Chargee

:

OVERSEA-CHINESE BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

10)

Charge No.

:

C201007105

 

Date of Registration

:

13/08/2010

 

Chargee

:

BNP PARIBAS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

11)

Charge No.

:

C201004380

 

Date of Registration

:

26/05/2010

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

12)

Charge No.

:

C200906871

 

Date of Registration

:

27/10/2009

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

13)

Charge No.

:

C200903223

 

Date of Registration

:

01/06/2009

 

Chargee

:

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

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

14)

Charge No.

:

C200900106

 

Date of Registration

:

05/01/2009

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

15)

Charge No.

:

C200900104

 

Date of Registration

:

05/01/2009

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

16)

Charge No.

:

C200710964

 

Date of Registration

:

12/12/2007

 

Chargee

:

UCO BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

17)

Charge No.

:

C200600370

 

Date of Registration

:

16/01/2006

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

18)

Charge No.

:

C200600369

 

Date of Registration

:

16/01/2006

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

19)

Charge No.

:

C200503701

 

Date of Registration

:

29/06/2005

 

Chargee

:

RAIFFEISEN ZENTRALBANK OESTERREICH AKTIENGESELLSCHAFT

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

20)

Charge No.

:

C200401678

 

Date of Registration

:

01/04/2004

 

Chargee

:

NATIXIS

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

21)

Charge No.

:

C200400603

 

Date of Registration

:

04/02/2004

 

Chargee

:

STANDARD CHARTERED BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

22)

Charge No.

:

9607483

 

Date of Registration

:

12/12/1996

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

330,000.00 SINGAPORE, DOLLARS

 

Address

:

---

 

23)

Charge No.

:

9607483

 

Date of Registration

:

12/12/1996

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

24)

Charge No.

:

9605976

 

Date of Registration

:

01/10/1996

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

120,946.09 U.S. DOLLAR

 

Address

:

---

 

25)

Charge No.

:

9605976

 

Date of Registration

:

01/10/1996

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

26)

Charge No.

:

200101478

 

Date of Registration

:

30/03/2001

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

27)

Charge No.

:

199900770

 

Date of Registration

:

05/03/1999

 

Chargee

:

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

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

28)

Charge No.

:

199800698

 

Date of Registration

:

07/02/1998

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

85,000.00 U.S. DOLLAR

 

Address

:

---

 

29)

Charge No.

:

199800698

 

Date of Registration

:

07/02/1998

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

30)

Charge No.

:

199800318

 

Date of Registration

:

16/01/1998

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

80,000.00 U.S. DOLLAR

 

Address

:

---

 

31)

Charge No.

:

199800318

 

Date of Registration

:

16/01/1998

 

Chargee

:

INDIAN BANK

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

             

 

LITIGATION

 

there have been 8 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

W.e.f 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

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

0

2

High (>$250,000)

0

5

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

423

 

Date of Filing

:

09/04/2001

 

Amount

:

225,000.00

 

Cause

:

TORT-GENERAL

 

Case Status

:

CONCLUDED

 

Plaintiff

:

AL-NOOR SUGAR MILLS LTD

 

Last Update Date

:

25/10/2002

 

2)

Court

:

Magistrate Court

 

Case No.

:

18822

 

Date of Filing

:

04/08/2006

 

Amount

:

6,365.52

 

Cause

:

Others / Miscellaneous

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

INTER-PREMIUM GROUP SERVICES PTE LTD

 

Last Update Date

:

08/12/2010

 

3)

Court

:

Supreme Court

 

Case No.

:

346

 

Date of Filing

:

13/05/2010

 

Amount

:

300,050.00

 

Cause

:

Contract - Others

 

Case Status

:

CONCLUDED

 

Plaintiff

:

SWEE CHOON COMPANY PRIVATE LIMITED

 

Last Update Date

:

08/12/2010

 

4)

Court

:

District Court

 

Case No.

:

5259

 

Date of Filing

:

29/12/1995

 

Amount

:

49,805.70

 

Cause

:

CONTRACTS-SALE OF GOODS

 

Case Status

:

CONCLUDED

 

Plaintiff

:

MELLOW TRADING

 

Last Update Date

:

13/05/2003

 

5)

Court

:

Supreme Court

 

Case No.

:

558

 

Date of Filing

:

01/04/1995

 

Amount

:

102,000.00

 

Cause

:

Monetary Claim

 

Case Status

:

CONCLUDED

 

Plaintiff

:

VENUS TRADING CO LTD

 

Last Update Date

:

15/07/2005

 

6)

Court

:

Supreme Court

 

Case No.

:

2479

 

Date of Filing

:

21/12/1996

 

Amount

:

109,208.00

 

Cause

:

Declaration

 

Case Status

:

CONCLUDED

 

Plaintiff

:

NORECOM GMBH

 

Last Update Date

:

13/01/2009

 

7)

Court

:

Supreme Court

 

Case No.

:

1841

 

Date of Filing

:

15/10/1997

 

Amount

:

698,000.00

 

Cause

:

CONTRACTS-GENERAL

 

Case Status

:

CONCLUDED

 

Plaintiff

:

KARIM'S INTERNATIONAL

 

Last Update Date

:

25/10/2002

 

8)

Court

:

District Court

 

Case No.

:

159

 

Date of Filing

:

11/01/1999

 

Amount

:

30,363.13

 

Cause

:

Contracts - General

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

BAKRIE NUSANTARA INTERNATIONAL PTE LTD

 

Last Update Date

:

13/01/2009

 

 

COMPLIANCE

 

Date of Last AGM

:

30/10/2011

Date of Last AR

:

24/11/2011

Date of A/C Laid At Last AGM

:

31/03/2011

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

MAR 2011

% Change

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

1,786,606,909

31.07

1,363,132,826

1,069,662,040

1,194,724,902

646,298,603

Profit/(Loss) Before Tax

21,784,493

228.05

6,640,666

8,795,890

21,052,323

5,513,137

Profit After Tax attributable to Shareholders

19,175,781

240.09

5,638,479

7,735,599

18,841,537

4,854,897

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

247,813,089

1.80

243,423,418

167,439,695

121,957,804

48,306,098

Current Assets

239,495,727

2.53

233,574,934

158,339,289

117,314,104

45,443,104

Non Current Assets

8,317,362

-15.55

9,848,484

9,100,406

4,643,700

2,862,994

 

 

 

 

 

 

 

Total Liabilities

198,870,457

-4.02

207,202,927

135,560,088

94,284,993

37,106,434

Current Liabilities

195,733,950

-3.89

203,658,203

131,995,109

93,479,458

36,149,955

Non Current Liabilities

3,136,507

-11.52

3,544,724

3,564,979

805,535

956,479

 

 

 

 

 

 

 

Shareholders' Funds

48,942,634

35.12

36,220,490

31,879,609

27,672,809

11,199,663

Share Capital

3,406,023

-6.82

3,655,170

3,699,305

3,771,439

2,024,329

Total Reserves

45,536,611

39.83

32,565,320

28,180,304

23,901,370

9,175,334

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

MAR 2011

MAR 2010

MAR 2009

MAR 2008

MAR 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

31.07

27.44

-10.47

84.86

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

1.07

0.41

0.72

1.58

0.75

Return on Equity (%)

39.18

15.57

24.27

68.09

43.35

Return on Assets (%)

7.74

2.32

4.62

15.45

10.05

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

4.06

5.72

4.25

3.41

3.31

Current Debt/Equity (Times)

4.00

5.62

4.14

3.38

3.23

Long Term Debt To Equity (Times)

0.06

0.10

0.11

0.03

0.09

Total Asset To Total Equity (Times)

5.06

6.72

5.25

4.41

4.31

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

7.21

5.60

6.39

9.80

13.38

Fixed Assets Turnover (Times)

214.80

138.41

117.54

257.28

225.74

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.22

1.15

1.20

1.25

1.26

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 28.94% (4 years).

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

 

Profitability

The group yielded a rate of net profit on sales of 1.07 per cent in FY11. The group is now able to book in SGD - SIN 0.01 of profit for every SGD - SIN of sales.

 

 

Liquidity

Current ratio stood at 1.22 times in FY11. This means that the group has SGD - SIN 1.22 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 4.06 times in FY11. This means that the group requires additional external financing of SGD - SIN 4.06 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 39.18 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 7.74 per cent. The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 7.21 times in FY11. 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.55.93

UK Pound

1

Rs.88.15

Euro

1

Rs.70.88

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

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.