MIRA INFORM REPORT

 

 

Report Date :

06.11.2012

 

IDENTIFICATION DETAILS

 

Name :

BOROCHEMIE INTERNATIONAL PTE LTD

 

 

Registered Office :

 

77 High Street #09-06 High Street Plaza Singapore 179433

 

 

 

 

Country :

Singapore

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

01.03.1995

 

 

 

 

Com. Reg. No.:

199501436Z

 

 

 

 

Legal Form :

Limited 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

(31.03.2011)

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:

BOROCHEMIE INTERNATIONAL PTE LTD

199501436Z

 

Date Incorporated:

Registered Office:

Telephone Number:

01/03/1995

77 HIGH STREET #09-06 HIGH STREET PLAZA SINGAPORE 179433

6334 7500

Age of Company:

Website:

Industry Type:

17

www.borochemie.com

COMMERCE-WHOLESALE

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

NA

NA

The entity is paying current to the creditors

No. of Charges(s):
13

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

9

Holding Company:

NA

Number that are shareholders

13

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

BOROCHEMIE INTERNATIONAL PTE LTD

Registration No

:

199501436Z

Date of Registration

:

01/03/1995

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

77 HIGH STREET #09-06 HIGH STREET PLAZA SINGAPORE 179433

Date of Change of Address

:

15/10/2008

Contact No.

:

6334 7500

Fax No.

:

6334 0735

Website

:

www.borochemie.com

Registered Activities

:

GENERAL WHOLESALE TRADE (INCLUDING GENERAL IMPORTERS AND EXPORTERS)

Issued Ordinary Capital*

:

$3,200,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 3,200,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$3,200,000.00 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

:

FEROZ KHAN & CO

Bankers / Financiers

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

Turnover

:

SINGAPORE, DOLLARS 221,857,238.01 (FY2011)

Net Worth

:

SINGAPORE, DOLLARS 13,943,593.04 (FY2011)

No. of Bank Charges

:

13

No. of Litigation Suits

:

NA

S1000 / SME 1000 / FG50 Ranking

:

1095 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1306 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

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

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

1024 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

13.34% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

AHMET KORKUT YAKAL

SHAREHOLDER ID

:

U 01351411

NATIONALITY

:

TURK

ADDRESS

:

FENERBAHCE ERGUVAN SK. NO 4/3 KADIKOY, ISTANBUL, TURKEY

NO. OF ORD SHARES

:

799,760

% OF SHAREHOLDING

:

25%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

ISMAIL ENES ALGAN

SHAREHOLDER ID

:

U 00630319

NATIONALITY

:

TURK

ADDRESS

:

FENERBAHCE MAH ATLIHAN SK SEVGILI KONAKLARI 18/3 KADIKOY ISTANBUL, TURKEY

NO. OF ORD SHARES

:

797,840

% OF SHAREHOLDING

:

24.9%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

ROOP RASAYAN INDUSTRIES PTE LTD

SHAREHOLDER ID

:

T08UF0505L

NATIONALITY

:

NA

ADDRESS

:

25A BESANT STREET SANTACRUZ (WEST) MUMBAI 400054 INDIA

NO. OF ORD SHARES

:

600,000

% OF SHAREHOLDING

:

18.8%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

RAKSHA ALAK SHAH

SHAREHOLDER ID

:

G 0182919

NATIONALITY

:

INDIAN

ADDRESS

:

301, MUNSHI MANOR, 3RD FLOOR, CORNER OF 9TH & 10TH ROAD KHAR (WEST), MUMBAI 400 052, INDIA

NO. OF ORD SHARES

:

263,250

% OF SHAREHOLDING

:

8.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

PADMAJA GIRISH MEHTA

SHAREHOLDER ID

:

B 5817481

NATIONALITY

:

INDIAN

ADDRESS

:

FLAT NO.602, 6TH FLOOR, SHRADDHA SUMAN, 6TH ROAD JUHU VILLEPARLE SCHEME, VILLEPARLE (W), MUMBAI 56, INDIA

NO. OF ORD SHARES

:

263,250

% OF SHAREHOLDING

:

8.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

ALAKH NATVARLAL SHAH

SHAREHOLDER ID

:

Z 2286702

NATIONALITY

:

INDIAN

ADDRESS

:

301, MUNSHI MANOR, 3RD FLOOR, CORNER OF 9TH & 10TH ROAD KHAR (WEST), MUMBAI - 400 052, INDIA

NO. OF ORD SHARES

:

236,750

% OF SHAREHOLDING

:

7.4%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

MEHTA GIRISH DINESHCHANDRA

SHAREHOLDER ID

:

Z1894148

NATIONALITY

:

INDIAN

ADDRESS

:

FLAT NO. 602, 6TH FLOOR, SHRADDHA SUMAN, 6TH ROAD JUHU VILLEPARLE SCHEME, VILLEPARLE (W), MUMBAI 56, INDIA

NO. OF ORD SHARES

:

236,750

% OF SHAREHOLDING

:

7.4%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

BERIL BEHIRE ALGAN

SHAREHOLDER ID

:

TR-M290720

NATIONALITY

:

TURK

ADDRESS

:

FENERBAHCE MAH ATLIHAN SK SEVGILI KONAKLARI 18/3 KADIKOY ISTANBUL, TURKEY

NO. OF ORD SHARES

:

2,160

% OF SHAREHOLDING

:

0.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SYLVIA YAKAL

SHAREHOLDER ID

:

E0669854 2

NATIONALITY

:

AUSTRIAN

ADDRESS

:

FENERBAHCE ERGUVAN SK. NO 4/3 KADIKOY, ISTANBUL, TURKEY

NO. OF ORD SHARES

:

240

% OF SHAREHOLDING

:

0%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

SYLVIA YAKAL

ADDRESS

:

FENERBAHCE ERGUVAN SK. NO 4/3 KADIKOY, ISTANBUL, TURKEY

POSITION

:

DIRECTOR

DATE OF APPT

:

01/09/2004

NATIONALITY

:

AUSTRIAN

I/C PASSPORT

:

E0669854 2

 

NAME

:

SHUKLA NARESHCHANDRA BALCHANDRA

ADDRESS

:

6 SHOPPING CENTRE, STATION ROAD, SANTACRUZ (W) MUMBAI-54, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/09/2004

NATIONALITY

:

INDIAN

I/C PASSPORT

:

E9452103

 

NAME

:

TIONG HIN WON, ERIC

ADDRESS

:

28 LEONIE HILL #07-30 LEONIE TOWERS SINGAPORE 239227

POSITION

:

DIRECTOR

DATE OF APPT

:

17/12/1996

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0146842A

 

NAME

:

JULIANA LOH JOO HUI

ADDRESS

:

22 ST. GEORGE'S ROAD #12-182 SINGAPORE 321022

POSITION

:

SECRETARY

DATE OF APPT

:

01/07/2008

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2558149J

 

NAME

:

CHAN LILY

ADDRESS

:

259A COMPASSVALE ROAD #13-609 SINGAPORE 541259

POSITION

:

SECRETARY

DATE OF APPT

:

13/11/2000

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S2668267C

 

NAME

:

BERIL BEHIRE ALGAN

ADDRESS

:

FENERBAHCE MAH ATLIHAN SK SEVGILI KONAKLARI 18/3 KADIKOY ISTANBUL, TURKEY

POSITION

:

DIRECTOR

DATE OF APPT

:

01/09/2004

NATIONALITY

:

TURK

I/C PASSPORT

:

TR-M290720

 

NAME

:

ISMAIL ENES ALGAN

ADDRESS

:

FENERBAHCE MAH ATLIHAN SK SEVGILI KONAKLARI 18/3 KADIKOY ISTANBUL, TURKEY

POSITION

:

DIRECTOR

DATE OF APPT

:

27/03/1995

NATIONALITY

:

TURK

I/C PASSPORT

:

U 00630319

 

 

NAME

:

AHMET KORKUT YAKAL

ADDRESS

:

FENERBAHCE ERGUVAN SK. NO 4/3 KADIKOY, ISTANBUL, TURKEY

POSITION

:

DIRECTOR

DATE OF APPT

:

17/12/1996

NATIONALITY

:

TURK

I/C PASSPORT

:

U 01351411

 

NAME

:

SHUKLA SURESHCHANDRA BALCHANDRA

ADDRESS

:

PLOT-25/A, BESANT STREET SANTACRUZ (W), MUMBAI-054, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/1995

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z 1894381

 

NAME

:

ALAKH NATVARLAL SHAH

ADDRESS

:

301, MUNSHI MANOR, 3RD FLOOR, CORNER OF 9TH & 10TH ROAD KHAR (WEST), MUMBAI - 400 052, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

27/06/2000

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z 2286702

 

NAME

:

MEHTA GIRISH DINESHCHANDRA

ADDRESS

:

FLAT NO. 602, 6TH FLOOR, SHRADDHA SUMAN, 6TH ROAD JUHU VILLEPARLE SCHEME, VILLEPARLE (W), MUMBAI 56, INDIA

POSITION

:

DIRECTOR

DATE OF APPT

:

01/09/2004

NATIONALITY

:

INDIAN

I/C PASSPORT

:

Z1894148

 

 

KEY PERSONNEL PROFILE

 

Name:

AHMET KORKUT YAKAL

NRIC Number:

U 01351411

Available Address:

FENERBAHCE ERGUVAN SK. NO 4/3 KADIKOY, ISTANBUL, TURKEY

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

BOROCHEMIE INTERNATIONAL PTE LTD

DIRECTOR

17/12/1996

799760

24.99

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

 

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

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

NA

 

 

                                                                                                                       

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 13 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201207649

 

Date of Registration

:

10/07/2012

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

2)

Charge No.

:

C201114213

 

Date of Registration

:

10/11/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

3)

Charge No.

:

C201114212

 

Date of Registration

:

10/11/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

4)

Charge No.

:

C201114211

 

Date of Registration

:

10/11/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

5)

Charge No.

:

C201114210

 

Date of Registration

:

10/11/2011

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

6)

Charge No.

:

C201005707

 

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

 

 

7)

Charge No.

:

C201005589

 

Date of Registration

:

02/07/2010

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

8)

Charge No.

:

C200907854

 

Date of Registration

:

01/12/2009

 

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.

:

C200808703

 

Date of Registration

:

18/09/2008

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

10)

Charge No.

:

C200808566

 

Date of Registration

:

15/09/2008

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

11)

Charge No.

:

200006097

 

Date of Registration

:

13/12/2000

 

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.

:

200005802

 

Date of Registration

:

29/11/2000

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

13)

Charge No.

:

199905675

 

Date of Registration

:

22/12/1999

 

Chargee

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

21 COLLYER QUAY #14-01 HSBC BUILDING SINGAPORE 049320

 

 

LITIGATION

 

Clear

 

 

COMPLIANCE

 

Date of Last AGM

:

12/06/2012

Date of Last AR

:

10/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

COMPLIANCE RATING FOR ANNUAL FILING

 

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

Company

 

DEC 2011

% Change

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

221,857,238

10.58

200,631,526

146,977,062

194,611,687

134,464,280

Profit/(Loss) Before Tax

6,346,751

284.30

1,651,530

3,177,082

6,087,169

1,504,875

Profit After Tax attributable

 to Shareholders

5,648,081

289.00

1,451,938

2,632,839

5,007,522

1,223,614

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

45,288,356

-4.65

47,499,403

41,900,586

36,418,845

21,327,295

Current Assets

43,041,651

-4.30

44,977,536

39,790,357

35,413,755

20,899,365

Non Current Assets

2,246,705

-10.91

2,521,867

2,110,229

1,005,090

427,930

 

 

 

 

 

 

 

Total Liabilities

31,344,763

-18.29

38,360,875

32,514,085

28,625,276

18,276,787

Current Liabilities

30,819,539

-16.84

37,059,530

31,365,471

27,844,592

18,011,255

Non Current Liabilities

525,223

-59.64

1,301,345

1,148,614

780,684

265,532

 

 

 

 

 

 

 

Shareholders' Funds

13,943,593

52.58

9,138,529

9,386,503

7,793,568

3,050,508

Share Capital

2,806,757

27.78

2,196,535

2,348,889

2,277,609

1,142,372

Total Reserves

11,136,836

60.43

6,941,994

7,037,614

5,515,959

1,908,136

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

10.58

36.51

-24.48

44.73

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

2.55

0.72

1.79

2.57

0.91

Return on Equity (%)

40.51

15.89

28.05

64.25

40.11

Return on Assets (%)

12.47

3.06

6.28

13.75

5.74

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

2.25

4.20

3.46

3.67

5.99

Current Debt/Equity (Times)

2.21

4.06

3.34

3.57

5.90

Long Term Debt To Equity (Times)

0.04

0.14

0.12

0.10

0.09

Total Asset To Total Equity (Times)

3.25

5.20

4.46

4.67

6.99

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

4.90

4.22

3.51

5.34

6.30

Fixed Assets Turnover (Times)

98.75

79.56

69.65

193.63

314.22

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.40

1.21

1.27

1.27

1.16

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 13.34% (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 company yielded a rate of net profit on sales of 2.55 per cent in FY11 (FY10: 0.72 per cent). The company is now able to book in SINGAPORE, DOLLARS 0.03 of profit for every SINGAPORE, DOLLARS of sales in FY11, as compared with SINGAPORE, DOLLARS 0.01 a year ago.

 

Liquidity

Current ratio stood at 1.40 times in FY11 (FY10: 1.21 times). This means that the company has SINGAPORE, DOLLARS 1.40 of current assets for every SINGAPORE, DOLLARS of current liability incurred.

 

 

FINANCIAL COMMENTARY

 

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 2.25 times in FY11, as compared with 4.20 times in FY10. This means that the company requires additional external financing of SINGAPORE, DOLLARS 2.25 for every SINGAPORE, DOLLARS 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 40.51 per cent for Subject in the current financial period, as compared to 15.89 per cent a year ago. 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 12.47 per cent (FY10: 3.06 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 4.90 times in FY11 (FY10: 4.22 times). This ratio measures the company'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.54.08

UK Pound

1

Rs.86.68

Euro

1

Rs.69.36

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.