MIRA INFORM REPORT

 

 

Report Date :

18.09.2012

 

IDENTIFICATION DETAILS

 

Name :

TIEN YUAN CHEMICAL (PTE) LTD.

 

 

 

 

Registered Office :

18 Chin Bee Road Jurong Town Singapore 619827

 

 

 

 

Country :

Singapore

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

11.02.1972

 

 

 

 

Com. Reg. No.:

197200144H

 

 

 

 

Legal Form :

Limited Private Company

 

 

 

 

Line of Business :

Manufacture of Basic Chemicals

 

 

 

 

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 – 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

 

 

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:

TIEN YUAN CHEMICAL (PTE) LTD.

197200144H

 

Date Incorporated:

Registered Office:

Telephone Number:

11/02/1972

18 CHIN BEE ROAD JURONG TOWN SINGAPORE 619827

6265 2518

Age of Company:

Website:

Industry Type:

40

www.tienyuan.com

MANUFACTURING

 

 

Risk Dashboard

Days Beyond Terms

Trend:

No. of Litigation Counts:

Company DTC:

1

NA

The entity is paying current to the creditors

No. of Charges(s):
0

Industry DTC

 

25

 

Directors

 

Corporate Structure

Number of Current Directors

6

Holding Company:

NA

Number that are shareholders

23

No. of Subsidiaries & Associated Companies:

NA

 

EXECUTIVE SUMMARY

 

Company Name

:

TIEN YUAN CHEMICAL (PTE) LTD.

Registration No

:

197200144H

Date of Registration

:

11/02/1972

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

18 CHIN BEE ROAD JURONG TOWN SINGAPORE 619827

Date of Change of Address

:

NA

Contact No.

:

6265 2518

Fax No.

:

6265 9662

Website

:

www.tienyuan.com

Registered Activities

:

1. MANUFACTURE OF BASIC CHEMICALS NEC

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

Issued Ordinary Capital*

:

$11,400,000.00 SINGAPORE, DOLLARS, NO. OF SHARE : 11,400

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$11,400,000.00 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

:

JOE TAN & ASSOCIATES PUBLIC ACCOUNTING CORPORATION

Bankers / Financiers

:

NA

Turnover

:

SGD - SIN 84,422,594.00 (FY2011)

Net Worth

:

SGD - SIN 19,657,841.00 (FY2011)

No. of Bank Charges

:

NA

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

18 POSITION IN SME 500 Companies Ranked by Sales/Turnover (2002/2003)

Compounded Annual Growth Rate (CAGR)

:

0.02% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SHIH CHIH LUNG

SHAREHOLDER ID

:

S2554957J

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

41 BURGUNDY DRIVE BURGUNDY HILL SINGAPORE 658838

NO. OF ORD SHARES

:

1,916

% OF SHAREHOLDING

:

16.8%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIN CHAI CHING

SHAREHOLDER ID

:

S2191905E

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

65 KISMIS AVENUE CHENG SOON GARDEN SINGAPORE 598242

NO. OF ORD SHARES

:

1,761

% OF SHAREHOLDING

:

15.4%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

TUNG KUEI-MEI

SHAREHOLDER ID

:

MFA1101860

NATIONALITY

:

TAIWANESE

ADDRESS

:

NO.13 ALLEY 3 LANE 78 CHANG AN ROAD WEST TAIPEI TAIWAN

NO. OF ORD SHARES

:

1,309

% OF SHAREHOLDING

:

11.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIAO CHUN- DI

SHAREHOLDER ID

:

MFA0891656

NATIONALITY

:

TAIWANESE

ADDRESS

:

NO. 8 31 ALLEY 10 LANE HSIU LAND ROAD 3RD SECTION CHUNG HO CITY, TAIPEI, TAIWAN

NO. OF ORD SHARES

:

822

% OF SHAREHOLDING

:

7.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

WU MENG-SHIN PHILIP

SHAREHOLDER ID

:

204935148

NATIONALITY

:

AMERICAN

ADDRESS

:

162 LOGAN AVE, STATEN ISLAND NY 10301 U.S.A.

NO. OF ORD SHARES

:

624

% OF SHAREHOLDING

:

5.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

WU MENG-SHIEN BENSON

SHAREHOLDER ID

:

701912285

NATIONALITY

:

AMERICAN

ADDRESS

:

NO 677 DINGSHAN STREET SANMIN DISTRICT KAOHSIUNG CITY TAIWAN

NO. OF ORD SHARES

:

624

% OF SHAREHOLDING

:

5.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SHIH, CHIH-TSE

SHAREHOLDER ID

:

130862051

NATIONALITY

:

TAIWANESE

ADDRESS

:

NO 25 FU YEH ROAD, YEN CHENG DISTRICT, KAOHSIUNG, TAIWAN

NO. OF ORD SHARES

:

356

% OF SHAREHOLDING

:

3.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHEN, TSUNG-CHI

SHAREHOLDER ID

:

211757417

NATIONALITY

:

TAIWANESE

ADDRESS

:

NO 8, LANE 43, ZHONGZHENG RD, JIGUANG LI, LIN 2 CENTRAL DISTRICT, TAICHUNG CITY, TAIWAN

NO. OF ORD SHARES

:

350

% OF SHAREHOLDING

:

3.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHEN, TSUNG-TE

SHAREHOLDER ID

:

213492416

NATIONALITY

:

TAIWANESE

ADDRESS

:

NO. 7, 135 ZHONGXIAO ROAD, CHENGHUANG LI, LIN 17 SOUTH DISTRICT TAICHUNG CITY, TAIWAN

NO. OF ORD SHARES

:

350

% OF SHAREHOLDING

:

3.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIN CHING CHIN

SHAREHOLDER ID

:

E7033753

NATIONALITY

:

AUSTRALIAN

ADDRESS

:

65 KISMIS AVENUE CHENG SOON GARDEN SINGAPORE 598242

NO. OF ORD SHARES

:

350

% OF SHAREHOLDING

:

3.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

SHIH HSIN CHING (MDM)

SHAREHOLDER ID

:

S2191906C

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

65 KISMIS AVENUE CHENG SOON GARDEN SINGAPORE 598242

NO. OF ORD SHARES

:

350

% OF SHAREHOLDING

:

3.1%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

WU TIEN TA

SHAREHOLDER ID

:

S2189382Z

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

16 CHENG SOON CRESCENT CHENG SOON GARDEN SINGAPORE 599888

NO. OF ORD SHARES

:

340

% OF SHAREHOLDING

:

3%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIN CHIEN TING

SHAREHOLDER ID

:

K0304872

NATIONALITY

:

AUSTRALIAN

ADDRESS

:

65 KISMIS AVENUE CHENG SOON GARDEN SINGAPORE 598242

NO. OF ORD SHARES

:

300

% OF SHAREHOLDING

:

2.6%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIN SHIH YUH

SHAREHOLDER ID

:

S2191907A

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

65 KISMIS AVENUE CHENG SOON GARDEN SINGAPORE 598242

NO. OF ORD SHARES

:

300

% OF SHAREHOLDING

:

2.6%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHEN CHUNG-PIN

SHAREHOLDER ID

:

X0327701

NATIONALITY

:

TAIWANESE

ADDRESS

:

NO 8 43 LANE CHUNG CHENG ROAD TAICHUNG TAIWAN

NO. OF ORD SHARES

:

300

% OF SHAREHOLDING

:

2.6%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

ESTATE OF CHANG YU ENG, DECEASED

SHAREHOLDER ID

:

MFA1104594

NATIONALITY

:

TAIWANESE

ADDRESS

:

25 JALAN LATEH SINGAPORE 359124

NO. OF ORD SHARES

:

280

% OF SHAREHOLDING

:

2.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

JERRY LIAO YI-RAN

SHAREHOLDER ID

:

K1634317

NATIONALITY

:

AUSTRALIAN

ADDRESS

:

10 TAUNTON STREET BLACKHURST NSW 2221 AUSTRALIA

NO. OF ORD SHARES

:

250

% OF SHAREHOLDING

:

2.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

JACKSON LIAO YANN-SHIUN

SHAREHOLDER ID

:

L5931413

NATIONALITY

:

AUSTRALIAN

ADDRESS

:

10 TAUNTON STREET BLACKHURST NSW 2221 AUSTRALIA

NO. OF ORD SHARES

:

250

% OF SHAREHOLDING

:

2.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

TUNG SHU PENG

SHAREHOLDER ID

:

S2634184A

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

342 CHOA CHU KANG LOOP #12-27 SINGAPORE 680342

NO. OF ORD SHARES

:

174

% OF SHAREHOLDING

:

1.5%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LU LI HSIU CHIH

SHAREHOLDER ID

:

S2182774F

NATIONALITY

:

SINGAPORE CITIZEN

ADDRESS

:

26 WILBY ROAD #04-30 TESSARINA, THE SINGAPORE 276308

NO. OF ORD SHARES

:

160

% OF SHAREHOLDING

:

1.4%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

LIAO YING CHIAN

SHAREHOLDER ID

:

S2196500F

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

115 MARSILING RISE #06-388 SINGAPORE 730115

NO. OF ORD SHARES

:

140

% OF SHAREHOLDING

:

1.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHIANG CHEN SHENG

SHAREHOLDER ID

:

M14030248

NATIONALITY

:

TAIWANESE

ADDRESS

:

NO 13 ALLEY 3 LANE 78 CHANG AN ROAD WEST TAIPEI TAIWAN

NO. OF ORD SHARES

:

74

% OF SHAREHOLDING

:

0.6%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

CHANG CHIN SHIN

SHAREHOLDER ID

:

S2196326G

NATIONALITY

:

SINGAPORE P.R.

ADDRESS

:

9E YUAN CHING ROAD #03-56 LAKESIDE APARTMENTS SINGAPORE 618647

NO. OF ORD SHARES

:

20

% OF SHAREHOLDING

:

0.2%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

OFFICER DETAILS

 

NAME

:

CHEN, TSUNG-TE

ADDRESS

:

NO. 7, 135 ZHONGXIAO ROAD, CHENGHUANG LI, LIN 17 SOUTH DISTRICT TAICHUNG CITY, TAIWAN

POSITION

:

DIRECTOR

DATE OF APPT

:

15/07/2010

NATIONALITY

:

TAIWANESE

I/C PASSPORT

:

213492416

 

NAME

:

LIAO CHUN- DI

ADDRESS

:

NO. 8 31 ALLEY 10 LANE HSIU LAND ROAD 3RD SECTION CHUNG HO CITY, TAIPEI, TAIWAN

POSITION

:

DIRECTOR

DATE OF APPT

:

21/02/1986

NATIONALITY

:

TAIWANESE

I/C PASSPORT

:

MFA0891656

 

NAME

:

TUNG KUEI-MEI

ADDRESS

:

NO.13 ALLEY 3 LANE 78 CHANG AN ROAD WEST TAIPEI TAIWAN

POSITION

:

DIRECTOR

DATE OF APPT

:

21/02/1986

NATIONALITY

:

TAIWANESE

I/C PASSPORT

:

MFA1101860

 

NAME

:

WU TIEN TA

ADDRESS

:

16 CHENG SOON CRESCENT CHENG SOON GARDEN SINGAPORE 599888

POSITION

:

DIRECTOR

DATE OF APPT

:

01/06/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2189382Z

 

NAME

:

LIN CHAI CHING

ADDRESS

:

65 KISMIS AVENUE CHENG SOON GARDEN SINGAPORE 598242

POSITION

:

DIRECTOR

DATE OF APPT

:

26/07/1976

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2191905E

 

NAME

:

SHIH CHIH LUNG

ADDRESS

:

41 BURGUNDY DRIVE BURGUNDY HILL SINGAPORE 658838

POSITION

:

DIRECTOR

DATE OF APPT

:

15/02/2000

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2554957J

 

NAME

:

LEE PAU SHENG

ADDRESS

:

510 WOODLANDS DRIVE 14 #03-35 SINGAPORE 730510

POSITION

:

SECRETARY

DATE OF APPT

:

01/11/2010

NATIONALITY

:

SINGAPORE P.R.

I/C PASSPORT

:

S2587391B

 

 

KEY PERSONNEL PROFILE

 

Name:

SHIH CHIH LUNG

NRIC Number:

S2554957J

Available Address:

41 BURGUNDY DRIVE BURGUNDY HILL  SINGAPORE 658838

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

TIEN YUAN CHEMICAL (PTE) LTD.

DIRECTOR

15/02/2000

1916

16.80

2

TIEN YUAN CHEMICAL (PTE) LTD.

MANAGING DIRECTOR

15/02/2000

1916

16.80

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

1

TIEN YUAN CHEMICAL (PTE) LTD.

LIVE COMPANY

MANAGER

01/10/1985

15/02/2000

2

WOON SING JEWELLERY PRIVATE LI MITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

DIRECTOR

10/08/1983

15/02/1989

3

WOON SING JEWELLERY PRIVATE LI MITED

DISSOLVED - MEMBERS' VOLUNTARY WINDING UP

SHAREHOLDER

-

-

 

 

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 are no bank charges registered against Subject by its bankers.

 

             

LITIGATION

 

To date, there have been 1 litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

Bef 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

0

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

0

0

High (>$250,000)

0

1

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Supreme Court

 

Case No.

:

600048

 

Transfer

:

-

 

Date of Filing

:

23/06/1997

 

Amount

:

193,305.04

 

Cause

:

Money-lending

 

Case Status

:

CONCLUDED

 

Plaintiff

:

JINDAL DRUGS LTD

COMPLIANCE RECORDS

 

Date of Last AGM

:

30/06/2012

Date of Last AR

:

24/07/2012

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

84,422,594

34.51

62,765,354

63,904,969

64,592,629

84,367,787

Profit/(Loss) Before Tax

4,561,390

21.43

3,756,539

1,013,918

1,547,094

1,096,268

Profit After Tax attributable

 to Shareholders

3,861,299

22.02

3,164,583

1,013,918

1,547,094

1,096,268

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

44,983,933

52.35

29,527,470

30,735,973

32,066,553

34,583,966

Current Assets

39,327,607

65.13

23,816,338

24,978,783

26,205,234

29,015,230

Non Current Assets

5,656,326

-0.96

5,711,132

5,757,190

5,861,319

5,568,736

 

 

 

 

 

 

 

Total Liabilities

25,326,092

110.68

12,020,928

15,710,014

17,712,512

21,777,019

Current Liabilities

25,145,744

112.22

11,848,763

15,607,196

17,569,363

21,757,793

Non Current Liabilities

180,348

4.75

172,165

102,818

143,149

19,226

 

 

 

 

 

 

 

Shareholders' Funds

19,657,841

12.29

17,506,542

15,025,959

14,354,041

12,806,947

Share Capital

11,400,000

0.00

11,400,000

11,400,000

11,400,000

11,400,000

Total Reserves

8,257,841

35.23

6,106,542

3,625,959

2,954,041

1,406,947

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

34.51

-1.78

-1.06

-23.44

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

4.57

5.04

1.59

2.40

1.30

Return on Equity (%)

19.64

18.08

6.75

10.78

8.56

Return on Assets (%)

8.58

10.72

3.30

4.82

3.17

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

1.29

0.69

1.05

1.23

1.70

Current Debt/Equity (Times)

1.28

0.68

1.04

1.22

1.70

Long Term Debt To Equity (Times)

0.01

0.01

0.01

0.01

0.00

Total Asset To Total Equity (Times)

2.29

1.69

2.05

2.23

2.70

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.88

2.13

2.08

2.01

2.44

Fixed Assets Turnover (Times)

14.93

10.99

11.10

11.02

15.15

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

1.56

2.01

1.60

1.49

1.33

 

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 0.02% (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 4.57 per cent in FY11 (FY10: 5.04 per cent). The company is now able to book in SGD - SIN 0.05 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.05 a year ago.

 

Liquidity

Current ratio stood at 1.56 times in FY11 (FY10: 2.01 times). This means that the company has SGD - SIN 1.56 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.

 

 

FINANCIAL COMMENTARY

 

Leverage

Total debt-to-equity ratio notched 1.29 times in FY11, compared with 0.69 times in FY10. This means that the company requires additional external financing of SGD - SIN 1.29 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 19.64 per cent for Subject in the current financial period, as compared to 18.08 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 8.58 per cent (FY10: 10.72 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 1.88 times in FY11 (FY10: 2.13 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.53.97

UK Pound

1

Rs.87.52

Euro

1

Rs.70.84

 

 

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

 

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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.