MIRA
INFORM REPORT
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Report Date : |
21.09.2012 |
IDENTIFICATION DETAILS
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Name : |
BHAVANI STORES PRIVATE LIMITED |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
23.01.1978 |
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Com. Reg. No.: |
197800150Z |
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Legal Form : |
Limited Exempt Private Company |
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Line of Business : |
General Wholesale Trade (Including General Importers And
Exporters) |
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No. of Employees : |
11 employees estimated |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
Contact Points
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Company Name: |
Bhavani Stores Private Limited |
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Supplied Name: |
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Supplied
Address: |
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Fax Number: |
Notes: Subject’s exact name and address are as
above.
Credit Summary
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Credit Opinion: |
Company Identification Details
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Registered Name: |
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Registered
Address: |
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Date of
Registration:: |
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Registered
Number: |
197800150Z |
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Country of
Incorporation: |
Singapore |
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Registered
Capital: |
SGD 600,000 (USD
491,580) (As of 2012.09,
1 SGD = 0.8193 USD) |
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Paid-up Capital: |
SGD 600,000 (USD
491,580) = 600,000 Shares@1 SGD |
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Legal Form: |
Limited Exempt Private
Company |
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Principal
Activities: |
46900--General
Wholesale Trade (Including General Importers And Exporters) |
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About 11 Employees (estimated) |
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Status: |
Live Company |
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Listed at Stock
Exchange: |
No |
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Date of Last
Annual Return: |
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Notes: the staff number is estimated and only for
reference.
History
Subject was incorporated on
Shareholders
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Subscription
Amount |
Proportion of
Investment (%) |
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|
Rathinasabapathy S/O
Sachithanantham |
400,000 |
67% |
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Kalavathy
Rathinasabapathy |
200,000 |
33% |
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Total |
600,000 |
100% |
Major Shareholder
Information:
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1 |
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Name: |
Rathinasabapathy S/O Sachithanantham |
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ID Number: |
S |
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Address: |
30 Lucky Heights Katong
Seaview Palace Singapore 467584 |
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2 |
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Name: |
Kalavathy
Rathinasabapathy |
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ID Number: |
S2170189J |
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Address: |
30 Lucky Heights
Singapore 467584 |
Subsidiaries & Branches
Subject did not introduce whether it has any subsidiaries or branches, from other source we can not obtain the relevant information, either.
Management Information
Detailed
Information of Management:
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1 |
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Name: |
Rathinasabapathy S/O Sachithanantham |
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Position: |
Director |
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ID Number: |
S |
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Address: |
30 Lucky Heights |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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2 |
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Name: |
Kalavathy Rathinasabapathy |
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Position: |
Director |
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ID Number: |
S2170189J |
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Address: |
30 Lucky Heights Singapore 467584 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
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3 |
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Name: |
Kalavathy Rathinasabapathy |
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Position: |
Secretary |
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ID Number: |
S2170189J |
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Address: |
30 Lucky Heights Singapore 467584 |
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Nationality: |
Singapore Citizen |
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Date of Appointment: |
1978-1-24 |
Operation Information
Offices
& Factories
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|
Office |
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Address: |
Production
Information
l
Subject is a trader of Papadums without any
production activities itself.
Purchase
Information
l
Subject purchases Papadums mainly abroad from
India.
Sales
Information
l
Subject is engaged in sales of Papadums
l
Subject’s products are mainly sold in domestic
market of Singapore and subject’s major customers are dealers and individuals,
etc
Settlements
Purchase
Domestic Markets
Subject has little
domestic purchase
Overseas Markets
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Products |
Payment Terms |
Proportion |
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Papadums |
CBD, Credit
Sales, etc |
100% |
Domestic Markets
|
Sales Terms |
Proportion |
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Papadums |
COD, etc |
100% |
Overseas Markets
Subject does not
export
Balance Sheet
Unit: SGD
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1,562,745.00 |
1,448,134.00 |
1,371,676.00 |
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Total Current Assets |
1,526,835.00 |
1,409,982.00 |
1,309,381.00 |
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Total Non-Current
Assets f.k.a. [Fixed And Others] |
35,910.00 |
38,152.00 |
62,295.00 |
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Total Liabilities |
981,272.00 |
901,549.00 |
788,953.00 |
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Total Current
Liabilities |
981,272.00 |
901,549.00 |
788,953.00 |
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Total Non-Current
Liabilities |
0.00 |
0.00 |
0.00 |
|
Total Equity f.k.a
[Shareholder's Funds] |
581,473.00 (USD 476,401) |
546,585.00 (USD 447,17) |
582,723.00 (USD 477,425) |
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Paid-Up Capital |
7,200,003.00 |
7,200,003.00 |
7,200,003.00 |
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Share Capital |
- |
- |
- |
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Other Reserves, Total
f.k.a. [Reserves] |
0.00 |
0.00 |
0.00 |
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Retained Earnings/(Accumulated Loss) |
(6,618,530.00) |
(6,653,418.00) |
(6,617,280.00) |
(As of 2012.09, 1 SGD = 0.8193 USD)
Profit/Loss Account
Unit: SGD
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|
2006 |
2005 |
2004 |
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Revenue f.k.a [Sales Turnover And Other Operating
Revenues] |
964,603.00 (USD 790,299) |
740,911.00 (USD 607,028) |
743,181.00 (USD 608,888) |
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Profit/(Loss) before Tax from Continuing Operations f.k.a [Profit/(Loss) before tax] |
34,888.00 |
(36,138.00) |
(6,279.00) |
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Profit/(Loss) after Tax from Continuing Operations f.k.a [Profit/(Loss) After Tax] |
34,888.00 |
(36,138.00) |
(6,279.00) |
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Net Income/(Loss) From Extraordinary And Non-Operating
Items |
0.00 |
0.00 |
0.00 |
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Profit/(Loss) After Tax and Extraordinary Items |
34,888.00 (USD 28,584) |
(36,138.00) (USD -29,608) |
(6,279.00) (USD -5,144) |
(As of 2012.09, 1 SGD = 0.8193 USD)
Financial Ratio
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2006 |
2005 |
2004 |
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Earning Capacity |
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Rate of Net Profit on Sales (%) |
3.62 |
(4.88) |
(0.84) |
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Return of Investment (%) |
2.23 |
(2.50) |
(0.46) |
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Return of Shareholder's Funds (%) |
6.00 |
(6.61) |
(1.08) |
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Total Assets Turnover (%) |
0.62 |
0.51 |
0.54 |
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Financial Stability |
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Current/Working Capital Ratio (%) |
1.56 |
1.56 |
1.66 |
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Proprietary Ratio (%) |
37.21 |
37.74 |
42.48 |
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Total Debt to Equity Ratio (%) |
62.79 |
62.26 |
57.52 |
In Singapore, Limited Exempt Private Companies are not obligated to submit
their financial statements to the local registry. We did not find the latest financials
of subject from the local registry, the subject also declined to disclose such
information due to the confidentiality reason.
Bankers
Bank Charge
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Charge Number |
8800802 |
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Date of Registration |
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Name |
Indian Bank |
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Amount Secured |
All Monies |
Interview Details
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Department: |
Sales department
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
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UK Pound |
1 |
Rs.87.91 |
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Euro |
1 |
Rs.70.57 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.