MIRA INFORM REPORT

 

 

Report Date :

13.04.2013

 

IDENTIFICATION DETAILS

 

Name :

KODAK (SINGAPORE) PTE. LIMITED

 

 

Registered Office :

151 Lorong Chuan, 05-01, New Tech Park, 556741

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

01.06.1951

 

 

Com. Reg. No.:

195100060-C

 

 

Legal Form :

Private Limited (Limited By Share)

 

 

Line of Business :

Distributing and servicing of photographic equipment and related products

 

 

No. of Employees :

180

 

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

(31.03.2012)

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.

:

195100060-C

COMPANY NAME

:

KODAK (SINGAPORE) PTE. LIMITED

FORMER NAME

:

N/A

INCORPORATION DATE

:

01/06/1951

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED (LIMITED BY SHARE)

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

151 LORONG CHUAN, 05-01, NEW TECH PARK, 556741, SINGAPORE.

BUSINESS ADDRESS

:

151 LORONG CHUAN,05-01 NEW TECH PARK, 556741, SINGAPORE.

TEL.NO.

:

65-63713388

FAX.NO.

:

65-63713377

WEB SITE

:

WWW.KODAK.COM

CONTACT PERSON

:

NG CHING CHUAN EDWARD ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

DISTRIBUTING AND SERVICING OF PHOTOGRAPHIC EQUIPMENT AND RELATED PRODUCTS

 

 

 

ISSUED AND PAID UP CAPITAL

:

90,000.00 ORDINARY SHARE, OF A VALUE OF SGD 900,000.00

 

 

 

SALES

:

SGD 291,362,901 [2011]

NET WORTH

:

SGD 36,583,077 [2011]

 

 

 

STAFF STRENGTH

:

180 [2013]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

GOOD

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

GOOD

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) distributing and servicing of photographic equipment and related products.

 

The immediate and ultimate holding company of the SC is EASTMAN KODAK COMPANY, a company incorporated in UNITED STATES.

 

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

Name

Address

IC/PP/Loc No

Shareholding

(%)

EASTMAN KODAK COMPANY

343 STATE ST ROCHESTER, NEW YORK , 14650, UNITED STATES.

S51UF0005K

90,000.00

100.00

 

 

 

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

------

 

 

 

90,000.00

100.00

 

 

 

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

=====

 

+ Also Director

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

LOIS MATTHIEU LEBEGUE

Address

:

GROSVENOR PLACE, UNIT 1201, 6, LANE 168, SHUNCHANG ROAD, LUWAN DISTRICT, SHANGHAI , 200021, CHINA.

IC / PP No

:

11AY88794

 

 

 

 

 

 

 

 

 

Nationality

:

FRENCH

Date of Appointment

:

15/04/2012

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

NG CHING CHUAN EDWARD

Address

:

18C HOLLAND DRIVE, 14-441, 274018, SINGAPORE.

IC / PP No

:

S6938547H

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

14/12/2012

 

 

 

 

 

 

 

 

 

 

 

 




MANAGEMENT

 

 

 

1)

Name of Subject

:

NG CHING CHUAN EDWARD

 

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

PRICEWATERHOUSECOOPERS LLP

Auditor' Address

:

N/A

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

WOO MAY POH

 

IC / PP No

:

S7128630D

 

 

 

 

 

Address

:

2, ROCHOR ROAD, 05-590, ROCHOR CENTRE, 180002, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

 

 

2)

Company Secretary

:

LEE WEI HSIUNG

 

IC / PP No

:

S7927166G

 

 

 

 

 

Address

:

633 JURONG WEST STREET 65, 10-310, 640633, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

BANKING


No Banker found in our databank. 

 

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 against 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

:

YES

Overseas

:

YES

 

 

 


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

:

N/A

 

 

 

 

 

 

Payment Mode

:

CHEQUES

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

PHOTOGRAPHIC EQUIPMENT AND RELATED PRODUCTS

 

 

 

 

Brand Name

:

KODAK

 

 

 

 

 

Total Number of Employees:

YEAR

2013

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

180

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

Other Information:


The SC is principally engaged in the (as a / as an) distributing and servicing of photographic equipment and related products. 

The SC engages in the following activities: 

* distributing and servicing of photographic equipment and related products 

* marketing and suppliers of 35mm color negative and reversal films, single-use cameras, kodak advantix system (advanced photo system), kodak digital cameras, motion picture films, medical, dental and industrial x-ray films, chemicals and processing equipment, etc

Products: 

* digital cameras 

* inkjet media 

* films

* picture cd 

* disposable cameras 

* picture maker 

* medical x-ray films

Microfilming equipment & supplies 

* microfilm systems 

* document scanners 

* imaging services & supplies



The SC is a member of the following entities:

* Singapore international chambers of commerce 

* American chamber of commerce 


CURRENT INVESTIGATION

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-63713388

Match

:

N/A

 

 

 

Address Provided by Client

:

151 LORONG CHUAN 05-01 (LOBBY A) , SINGAPORE 556741

Current Address

:

151 LORONG CHUAN,05-01 NEW TECH PARK, 556741, SINGAPORE.

Match

:

NO

 

 

 

 

Other Investigations


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

The address provided is incomplete.

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Decreased

[

5.16%

]

 

Profit/(Loss) Before Tax

:

Decreased

[

97.09%

]

 

Return on Shareholder Funds

:

Unfavourable

[

1.14%

]

 

Return on Net Assets

:

Unfavourable

[

0.41%

]

 

 

 

 

 

 

 

 

The lower turnover could be due to the unfavourable market conditions.The SC's profit fell sharply because of the high operating costs incurred. The unfavourable return on shareholders' funds could indicate that the SC was inefficient in utilising its assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Favourable

[

13 Days

]

 

Debtor Ratio

:

Acceptable

[

64 Days

]

 

Creditors Ratio

:

Favourable

[

37 Days

]

 

 

 

 

 

 

 

 

The SC's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The SC's management was quite efficient in handling its debtors. The SC's debtors days were at an acceptable range, thus the risk of its debts turning bad was minimised. 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

[

1.73 Times

]

 

Current Ratio

:

Favourable

[

2.01 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

:

Favourable

[

55.24 Times

]

 

Gearing Ratio

:

Favourable

[

0.00 Times

]

 

 

 

 

 

 

 

 

The interest cover showed that the SC was able to service the interest. The favourable interest cover could indicate that the SC was making enough profit to pay for the interest accrued. 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 :

 

 

 

 

 

 

The SC's performance deteriorated over the years with lower 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. With the favourable interest cover, the SC could be able to service all the accrued interest without facing any difficulties. 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 : FAIR

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

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 1951, the SC is a Private Limited company, focusing on distributing and servicing of photographic equipment and related products. The SC has been in business for over two decades. It has built up a strong clientele base and good reputation will enable the SC to further enhance its business in the near term. The SC is expected to enjoy a stable market shares. 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 900,000.


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. The SC is a fairly large and rapidly growing company with over 180 staff in its operations 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.


The SC's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. The SC has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. 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 SGD 36,583,077, 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. The SC's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the SC has a good control over its resources.


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.

KODAK (SINGAPORE) PTE. LIMITED

 

Financial Year End

31/12/2011

31/12/2010

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

SGD

SGD

 

 

 

TURNOVER

291,362,901

307,213,608

Other Income

56,918

133,668

 

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

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

Total Turnover

291,419,819

307,347,276

Costs of Goods Sold

<266,751,626>

<274,688,063>

 

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

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

Gross Profit

24,668,193

32,659,213

 

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

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

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

155,245

5,342,018

 

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

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

PROFIT/(LOSS) BEFORE TAXATION

155,245

5,342,018

Taxation

260,329

<850,277>

 

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

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

PROFIT/(LOSS) AFTER TAXATION

415,574

4,491,741

 

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

As previously reported

35,267,503

50,095,676

 

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

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

As restated

35,267,503

50,095,676

 

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

35,683,077

54,587,417

DIVIDENDS - Ordinary (paid & proposed)

-

<19,319,914>

 

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

35,683,077

35,267,503

 

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

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

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

Bank overdraft

-

17

Term loan / Borrowing

2,862

982

 

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

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

 

2,862

999

 

 

BALANCE SHEET

 

 

KODAK (SINGAPORE) PTE. LIMITED

 

ASSETS EMPLOYED:

 

 

FIXED ASSETS

1,172,958

1,021,824

 

 

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

 

Deferred assets

355,955

257,021

Others

1,215,854

676,645

 

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

1,571,809

933,666

 

 

 

 

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

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

TOTAL LONG TERM ASSETS

2,744,767

1,955,490

 

 

 

CURRENT ASSETS

 

 

Stocks

10,155,084

19,265,616

Trade debtors

51,468,043

40,669,803

Other debtors, deposits & prepayments

1,065,727

2,455,313

Cash & bank balances

8,453,461

14,857,205

 

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

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

TOTAL CURRENT ASSETS

71,142,315

77,247,937

 

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

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

TOTAL ASSET

73,887,082

79,203,427

 

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

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

 

 

 

CURRENT LIABILITIES

 

 

Trade creditors

27,197,488

28,501,720

Other creditors & accruals

7,376,728

11,606,489

Provision for taxation

27,005

743,615

Other liabilities

729,625

719,230

 

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

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

TOTAL CURRENT LIABILITIES

35,330,846

41,571,054

 

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

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

NET CURRENT ASSETS/(LIABILITIES)

35,811,469

35,676,883

 

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

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

TOTAL NET ASSETS

38,556,236

37,632,373

 

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

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

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

900,000

900,000

 

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

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

TOTAL SHARE CAPITAL

900,000

900,000

 

 

 

RESERVES

 

 

Retained profit/(loss) carried forward

35,683,077

35,267,503

 

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

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

TOTAL RESERVES

35,683,077

35,267,503

 

 

 

 

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

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

SHAREHOLDERS' FUNDS/EQUITY

36,583,077

36,167,503

 

 

 

LONG TERM LIABILITIES

 

 

Others

1,973,159

1,464,870

 

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

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

TOTAL LONG TERM LIABILITIES

1,973,159

1,464,870

 

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

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

 

38,556,236

37,632,373

 

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

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

 

 

 

 

 

 

FINANCIAL RATIO

 

 

KODAK (SINGAPORE) PTE. LIMITED

 

TYPES OF FUNDS

 

 

Cash

8,453,461

14,857,205

Net Liquid Funds

8,453,461

14,857,205

Net Liquid Assets

25,656,385

16,411,267

Net Current Assets/(Liabilities)

35,811,469

35,676,883

Net Tangible Assets

38,556,236

37,632,373

Net Monetary Assets

23,683,226

14,946,397

BALANCE SHEET ITEMS

 

 

Total Borrowings

0

0

Total Liabilities

37,304,005

43,035,924

Total Assets

73,887,082

79,203,427

Net Assets

38,556,236

37,632,373

Net Assets Backing

36,583,077

36,167,503

Shareholders' Funds

36,583,077

36,167,503

Total Share Capital

900,000

900,000

Total Reserves

35,683,077

35,267,503

LIQUIDITY (Times)

 

 

Cash Ratio

0.24

0.36

Liquid Ratio

1.73

1.39

Current Ratio

2.01

1.86

WORKING CAPITAL CONTROL (Days)

 

 

Stock Ratio

13

23

Debtors Ratio

64

48

Creditors Ratio

37

38

SOLVENCY RATIOS (Times)

 

 

Gearing Ratio

0.00

0.00

Liabilities Ratio

1.02

1.19

Times Interest Earned Ratio

55.24

5,348.37

Assets Backing Ratio

428.40

418.14

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

0.05

1.74

Net Profit Margin

0.14

1.46

Return On Net Assets

0.41

14.20

Return On Capital Employed

0.41

14.20

Return On Shareholders' Funds/Equity

1.14

12.42

Dividend Pay Out Ratio (Times)

0.00

4.30

NOTES TO ACCOUNTS

 

 

Contingent Liabilities

0

0





FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.44

UK Pound

1

Rs.83.78

Euro

1

Rs.71.33

 

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.