MIRA INFORM REPORT

 

 

Report Date :

06.04.2013

 

IDENTIFICATION DETAILS

 

Name :

TLA SPORTS PTE. LTD.

 

 

Formerly Known As :

TLA (SPORTS EQUIPMENT) PTE. LTD.

 

 

Registered Office :

73 Bukit Timah Road, 02-01 Rex House, 229832

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

08.04.2004

 

 

Com. Reg. No.:

200404296-G

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

Wholesaler of sporting goods and equipment

 

 

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 :

Good

 

 

Payment Behaviour :

Regular 

 

 

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

 

 

 

 


* Adopted abbreviations :

SC - Subject Company (the company enquired by you)

 

 

 

N/A - Not Applicable

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

200404296-G

COMPANY NAME

:

TLA SPORTS PTE. LTD.

FORMER NAME

:

TLA (SPORTS EQUIPMENT) PTE. LTD. (05/05/2004)

INCORPORATION DATE

:

08/04/2004

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

73 BUKIT TIMAH ROAD, 02-01 REX HOUSE, 229832, SINGAPORE.

BUSINESS ADDRESS

:

73 BUKIT TIMAH ROAD,02-01 REX HOUSE, 229832, SINGAPORE.

TEL.NO.

:

65-68820988

FAX.NO.

:

65-68820932

WEB SITE

:

WWW.TEXLINE.COM.SG

CONTACT PERSON

:

SIM KIM CHOON ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

WHOLESALE OF SPORTING GOODS AND EQUIPMENT

 

 

 

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00

 

 

 

SALES

:

USD 347,117,459 [2012]

NET WORTH

:

USD 17,675,442 [2012]

 

 

 

STAFF STRENGTH

:

N/A

BANKER (S)

:

INDUSTRIAL & COMMERCIAL BANK LTD
THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STRONG

PAYMENT

:

GOOD

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

HISTORY / BACKGROUND

 

The SC is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the SC must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the SC is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the SC is insolvent. The SC is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

 

The SC is principally engaged in the (as a / as an) wholesale of sporting goods and equipment.

 

The immediate holding company of the SC is TEX LINE ASSOCIATES PTE LTD, a company incorporated in SINGAPORE.

 

The ultimate holding company of the SC is TEX LINE PTE LTD, a company incorporated in SINGAPORE.

 

The major shareholder(s) of the SC are shown as follows :

Name

Address

IC/PP/Loc No

Shareholding

(%)

TEX LINE ASSOCIATES PTE LTD

SINGAPORE

198905457

100,000.00

100.00

 

 

 

---------------

------

 

 

 

100,000.00

100.00

 

 

 

============

=====

 

+ Also Director

 

The SC interest in other companies (Subsidiaries/Associates) are shown as follow :

Local No

Country

Company

(%)

As At

CN011054

CHINA

TLA SPORTS (SHENZHEN) PTE. LTD.

100

31/03/2012

 

 

 

 

 

 

 

 

DIRECTORS



DIRECTOR 1

 

Name Of Subject

:

SIM KIM CHOON

Address

:

1D LYNWOOD GROVE, ONE LYNWOOD, 358679, SINGAPORE.

IC / PP No

:

S0018165Z

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

08/04/2004

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

MICHAEL KOH KOW TEE

Address

:

201 OCEAN DRIVE, 06-05, AZURE, THE, 098584, SINGAPORE.

IC / PP No

:

S0018917J

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

08/04/2004

 

 

 

 

 

 

 

 

 

 

 

 



MANAGEMENT

 

 

 

1)

Name of Subject

:

SIM KIM CHOON

 

Position

:

DIRECTOR

 

                                  

 

AUDITOR

 

Auditor

:

ERNST & YOUNG LLP

Auditor' Address

:

N/A

                              

                              

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

CHAN FANNY

 

IC / PP No

:

S1581535C

 

 

 

 

 

Address

:

866, TAMPINES STREET 83, 02-225, 520866, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

INDUSTRIAL & COMMERCIAL BANK LTD

 

 

 

 

 

2)

Name

:

THE HONGKONG AND SHANGHAI BANKING CORPORATION LTD

 

 

 

 

 

The SC enjoys normal banking routine with above mentioned banker(s). No adverse record was found during our investigation.

 

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation. 

LEGAL CHECK AGAINST SC


* A check has been conducted in our databank againt the SC whether the subject has been involved in any litigation. 

No legal action was found in our databank. 

No winding up petition was found in our databank. 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A

 

 

 


The SC refused to disclose its suppliers. 

The SC refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

 

]

 

Good 31-60 Days

[

X

]

 

Average 61-90 Days

[

 

]

 

Fair 91-120 Days

[

 

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

 

 

 

Export Market

:

ASIA

Credit Term

:

AS AGREED

 

 

 

 

 

 

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

SPORTS EQUIPMENT AND THE RELATED PRODUCTS N

 

 

 

 

 

Total Number of Employees:

YEAR

2012

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

1,000

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The SC is principally engaged in the (as a / as an) wholesale of sporting goods and equipment. 

The SC's principal activities are those of provision of sourcing and buying services for sports equipment, products and related articles of all descriptions. 

Background (holding company): 

Tex line associates pte ltd (tla) is a service-oriented organization that provides complete and comprehensive apparel sourcing & supply chain management.

The SC's main business is to source products for their customers, organise the shipping and qc inspections and keep their customers up to date with the latest developments. 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

6568820988

Current Telephone Number

:

65-68820988

Match

:

YES

 

 

 

Address Provided by Client

:

NO. 73 BUKIT TIMAH ROAD, #02-01 REX HOUSE, SINGAPORE 229832.

Current Address

:

73 BUKIT TIMAH ROAD,02-01 REX HOUSE, 229832, SINGAPORE.

Match

:

YES

 

 

 

 

Other Investigations

we contacted one of the staff from the SC and she provided some information on the SC.


The SC refused to disclose its number of employees.

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

2010 - 2012

]

 

Profit/(Loss) Before Tax

:

Increased

[

2010 - 2012

]

 

Return on Shareholder Funds

:

Favourable

[

33.14%

]

 

Return on Net Assets

:

Favourable

[

36.55%

]

 

 

 

 

 

 

 

 

The SC's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The higher profit could be attributed to the increase in turnover. Generally the SC was profitable. The favourable return on shareholders' funds and return on net assets indicate that the SC's management was efficient in utilising the assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Nil

[

0 Days

]

 

Debtor Ratio

:

Favourable

[

20 Days

]

 

Creditors Ratio

:

Favourable

[

47 Days

]

 

 

 

 

 

 

 

 

As the SC is a service oriented company, the SC does not need to keep stocks. The favourable debtors' days could be due to the good credit control measures implemented by the SC. The SC had a favourable creditors' ratio as evidenced by its favourable collection days. The SC could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Favourable

[

1.38 Times

]

 

Current Ratio

:

Unfavourable

[

1.38 Times

]

 

 

 

 

 

 

 

 

A minimum liquid ratio of 1 should be maintained by the SC in order to assure its creditors of its ability to meet short term obligations and the SC was in a good liquidity position. Thus, we believe the SC is able to meet all its short term obligations as and when they fall due.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Nil

[

0.00 Times

]

 

Gearing Ratio

:

Favourable

[

0.00 Times

]

 

 

 

 

 

 

 

 

The SC's interest cover was nil as it did not pay any interest during the year. The SC had no gearing and hence it had virtually no financial risk. The SC was financed by its shareholders' funds and internally generated fund. During the economic downturn, the SC, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

Generally, the SC's performance has improved with higher turnover and profit. The SC was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the SC should be able to repay its short term obligations. The SC did not make any interest payment during the year. The SC was dependent on its shareholders' funds to finance its business needs. The SC was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The SC has good chance of getting loans, if the needs arises.

 

 

 

 

 

 

 

Overall financial condition of the SC : STRONG

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

 

 

2006

2007

2008

2009

2010

 

 

 

 

 

 

Population (Million)

4.40

4.58

4.84

4.98

5.08

Gross Domestic Products ( % )

8.7

8.8

1.5

<0.8>

14.5

Consumer Price Index

1.0

2.1

6.6

0.6

2.8

Total Imports (Million)

378,924.1

395,979.7

450,892.6

356,299.3

423,221.8

Total Exports (Million)

431,559.2

450,627.7

476,762.2

391,118.1

478,840.7

 

 

 

 

 

 

Unemployment Rate (%)

2.7

2.3

2.2

3.2

2.2

Tourist Arrival (Million)

9.75

10.28

10.12

9.68

11.64

Hotel Occupancy Rate (%)

85.2

87.0

81.0

75.8

85.6

Cellular Phone Subscriber (Million)

1.05

1.22

1.31

1.37

1.43

 

 

 

 

 

 

Registration of New Companies (No.)

21,495

25,903

25,327

26,414

29,798

Registration of New Companies (%)

10.2

20.5

<2.2>

4.3

12.8

Liquidation of Companies (No.)

8,980

9,226

10,493

22,393

15,126

Liquidation of Companies (%)

28.1

2.7

13.7

113.4

<32.5>

 

 

 

 

 

 

Registration of New Businesses (No.)

24,219

24,762

24,850

26,876

23,978

Registration of New Businesses (%)

3.17

2.24

0.36

8.15

<10.78>

Liquidation of Businesses (No.)

26,843

21,322

21,150

23,552

24,211

Liquidation of Businesses (%)

<52.3>

<20.6>

<0.8>

11.4

2.8

 

 

 

 

 

 

Bankruptcy Orders (No.)

2,983

2,767

2,326

2,058

1,537

Bankruptcy Orders (%)

15.8

<7.2>

<15.9>

<11.5>

<25.3>

Bankruptcy Discharges (No.)

1,634

1,626

1,500

3,056

2,252

Bankruptcy Discharges (%)

<2.9>

<0.5>

<7.7>

103.7

<26.3>

 

 

 

 

 

 

INDUSTRIES ( % of Growth ) :

 

 

 

 

 

Agriculture

 

 

 

 

 

Production of Principal Crops

3.91

5.26

<0.32>

3.25

<0.48>

Fish Supply & Wholesale

1.33

<3.91>

<6.31>

<1.93>

<10.5>

 

 

 

 

 

 

Manufacturing *

73.5

77.9

74.6

71.5

92.8

Food, Beverages & Tobacco

79.1

88.0

94.8

90.4

96.4

Textiles

233.3

194.5

180.1

145.9

122.1

Wearing Apparel

533.9

466.2

334.6

211.0

123.3

Leather Products & Footwear

151.7

151.3

128.2

79.5

81.8

Wood & Wood Products

159.1

148.6

132.0

101.4

104.0

Paper & Paper Products

94.6

102.2

101.0

95.4

106.1

Printing & Media

119.4

122.2

118.2

100.9

103.5

Crude Oil Refineries

112.2

112.0

113.1

96.4

95.6

Chemical & Chemical Products

83.4

88.8

84.5

80.3

97.6

Pharmaceutical Products

48.1

47.1

43.7

49.1

75.3

Rubber & Plastic Products

130.6

130.4

120.1

101.2

112.3

Non-metallic Mineral

131.3

116.2

96.5

91.9

92.5

Basic Metals

99.9

90.9

109.8

92.6

102.2

Fabricated Metal Products

104.4

106.5

101.3

90.8

103.6

Machinery & Equipment

56.0

66.7

65.0

57.3

78.5

Electrical Machinery

82.3

83.2

81.7

86.8

124.1

Electronic Components

96.9

99.7

93.1

85.2

113.6

Transport Equipment

80.5

94.3

102.0

96.0

94.0

 

 

 

 

 

 

Construction

46.60

45.60

45.90

<36.9>

14.20

Real Estate

12.9

40.8

<11.2>

1.4

21.3

 

 

 

 

 

 

Services

 

 

 

 

 

Electricity, Gas & Water

<5.3>

11.00

<1.3>

1.70

4.00

Transport, Storage & Communication

6.00

8.50

11.60

3.90

12.80

Finance & Insurance

6.40

41.50

<5.9>

<16.4>

<0.4>

Government Services

13.50

3.80

17.40

4.50

9.70

Education Services

1.10

1.80

0.50

0.10

<0.9>

 

 

 

 

 

 

* Based on Index of Industrial Production (2011 = 100)

 

 

 

 

 

(Source : Department of Statistics)

 

 

 

 

 

 

INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

 

 

 


The wholesale and retail trade sector contracted by 1.5% in the fourth quarter of 2012, extending the 0.2% decline in the preceding quarter. For the whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The sector was weighed down primarily by the wholesale trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4% growth in 2011. Growth of the retail trade segment also moderated to 2.0%, from 3.2% in the year 2011.


The domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an improvement from the 5.4% decline in the third quarter. This was partly due to an increase in the sales of chemicals & chemical products and ship chandlers & bunkering. For the full year of 2012, the domestic wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011. The foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase from the 6.6% growth in the third quarter. The expansion was partly due to resilient sales of petroleum & petroleum products. For the whole of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the 4.3% increase in 2011.


In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the third quarter of 2012. The sales volume of motor vehicles fell by 11% in the fourth quarter of 2012, after contracting by 6.1% in the third quarter. The sales of several discretionary items also declined in the fourth quarter. Besides, the sales of optical goods & books in 2012 fell by 3.6%, while the sales of telecommunications apparatus & computers declined by 1.4%. 


For 2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods & toiletries registered the largest increase (9.3%) in sales, followed by telecommunications apparatus & computers (6.9%). By contrast, the sales of watches & jewellery (-2.2%) and optical goods & books (-3.6%) declined.

 

 

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH

 

CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 2004, the SC is a Private Limited company, focusing on wholesale of sporting goods and equipment. Having been in business for more than 5 years, the SC has established a remarkable clientele base for itself which has contributed to its business growth. Having strong support from its holding company has enabled the SC to remain competitive despite the challenging business environment. Presently, issued and paid up capital of the SC stand at SGD 100,000.


Over the years, the SC has penetrated into both the local and overseas market. The SC has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the SC to further enhance its business in the near term. Overall, we regard that the SC's management capability is average. This indicates that the SC has greater potential to improve its business performance and raising income for the SC.


We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. Based on the higher profitability, the SC has generated a favourable return based on its existing shareholders' funds which indicated that the management was efficient in utilising its funds to generate income. The SC is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the SC virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 17,675,442, the SC should be able to maintain its business in the near terms.


Having a strong assets backing, the SC possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises.


Overall, the SC's payment habit is good as the SC has a good credit control and it could be taking advantage of the cash discounts while maintaining a good reputation with its creditors.


The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the SC is expected to benefit from the favourable outlook of the industry.


Based on the above condition, we recommend credit be granted to the SC promptly.

 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

TLA SPORTS PTE. LTD.

 

Financial Year End

31/03/2012

31/03/2011

31/03/2010

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

 

 

 

 

TURNOVER

347,117,459

267,917,430

224,010,354

 

----------------

----------------

----------------

Total Turnover

347,117,459

267,917,430

224,010,354

Costs of Goods Sold

<335,991,972>

<259,034,055>

<216,443,351>

 

----------------

----------------

----------------

Gross Profit

11,125,487

8,883,375

7,567,003

 

----------------

----------------

----------------

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

6,460,302

4,094,819

3,601,674

 

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

6,460,302

4,094,819

3,601,674

Taxation

<602,489>

<486,513>

<360,148>

 

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

5,857,813

3,608,306

3,241,526

 

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

As previously reported

11,757,497

8,149,191

6,407,665

 

----------------

----------------

----------------

As restated

11,757,497

8,149,191

6,407,665

 

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

17,615,310

11,757,497

9,649,191

DIVIDENDS - Ordinary (paid & proposed)

-

-

<1,500,000>

 

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

17,615,310

11,757,497

8,149,191

 

=============

=============

=============

 

 

 

 

 

 

 

BALANCE SHEET

 

 

TLA SPORTS PTE. LTD.

 

ASSETS EMPLOYED:

 

 

 

FIXED ASSETS

7,441

9,366

7,963

 

 

 

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

 

 

Subsidiary companies

2

2

2

 

----------------

----------------

----------------

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

2

2

2

 

 

 

 

 

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

7,443

9,368

7,965

 

 

 

 

CURRENT ASSETS

 

 

 

Trade debtors

18,972,812

-

-

Other debtors, deposits & prepayments

1,578

314

4,283

Amount due from holding company

42,754,724

13,084,225

9,168,968

Amount due from subsidiary companies

167,729

-

80,096

Amount due from related companies

27,793

2,311

926

Cash & bank balances

1,963,666

216,210

201,133

 

----------------

----------------

----------------

TOTAL CURRENT ASSETS

63,888,302

13,303,060

9,455,406

 

----------------

----------------

----------------

TOTAL ASSET

63,895,745

13,312,428

9,463,371

 

=============

=============

=============

 

 

 

 

CURRENT LIABILITIES

 

 

 

Trade creditors

43,374,371

-

-

Other creditors & accruals

1,934,390

974,723

817,979

Amounts owing to subsidiary companies

270,542

-

-

Amounts owing to related companies

161,360

122,764

143,340

Provision for taxation

479,640

397,312

292,729

 

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

46,220,303

1,494,799

1,254,048

 

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

17,667,999

11,808,261

8,201,358

 

----------------

----------------

----------------

TOTAL NET ASSETS

17,675,442

11,817,629

8,209,323

 

=============

=============

=============

 

 

 

 

SHARE CAPITAL

 

 

 

Ordinary share capital

60,132

60,132

60,132

 

----------------

----------------

----------------

TOTAL SHARE CAPITAL

60,132

60,132

60,132

 

 

 

 

RESERVES

 

 

 

Retained profit/(loss) carried forward

17,615,310

11,757,497

8,149,191

 

----------------

----------------

----------------

TOTAL RESERVES

17,615,310

11,757,497

8,149,191

 

 

 

 

 

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

17,675,442

11,817,629

8,209,323

 

 

 

 

 

----------------

----------------

----------------

 

17,675,442

11,817,629

8,209,323

 

=============

=============

=============

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

TLA SPORTS PTE. LTD.

 

TYPES OF FUNDS

 

 

 

Cash

1,963,666

216,210

201,133

Net Liquid Funds

1,963,666

216,210

201,133

Net Liquid Assets

17,667,999

11,808,261

8,201,358

Net Current Assets/(Liabilities)

17,667,999

11,808,261

8,201,358

Net Tangible Assets

17,675,442

11,817,629

8,209,323

Net Monetary Assets

17,667,999

11,808,261

8,201,358

BALANCE SHEET ITEMS

 

 

 

Total Borrowings

0

0

0

Total Liabilities

46,220,303

1,494,799

1,254,048

Total Assets

63,895,745

13,312,428

9,463,371

Net Assets

17,675,442

11,817,629

8,209,323

Net Assets Backing

17,675,442

11,817,629

8,209,323

Shareholders' Funds

17,675,442

11,817,629

8,209,323

Total Share Capital

60,132

60,132

60,132

Total Reserves

17,615,310

11,757,497

8,149,191

LIQUIDITY (Times)

 

 

 

Cash Ratio

0.04

0.14

0.16

Liquid Ratio

1.38

8.90

7.54

Current Ratio

1.38

8.90

7.54

WORKING CAPITAL CONTROL (Days)

 

 

 

Stock Ratio

0

0

0

Debtors Ratio

20

0

0

Creditors Ratio

47

0

0

SOLVENCY RATIOS (Times)

 

 

 

Gearing Ratio

0.00

0.00

0.00

Liabilities Ratio

2.61

0.13

0.15

Times Interest Earned Ratio

0.00

0.00

0.00

Assets Backing Ratio

293.94

118.18

82.09

PERFORMANCE RATIO (%)

 

 

 

Operating Profit Margin

1.86

1.53

1.61

Net Profit Margin

1.69

1.35

1.45

Return On Net Assets

36.55

34.65

43.87

Return On Capital Employed

36.55

34.65

43.87

Return On Shareholders' Funds/Equity

33.14

30.53

39.49

Dividend Pay Out Ratio (Times)

0.00

0.00

0.46

NOTES TO ACCOUNTS

 

 

 

Contingent Liabilities

0

0

0





 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.88

UK Pound

1

Rs.83.54

Euro

1

Rs.70.90

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.