|
Report Date : |
07.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUMITOMO CHEMICAL ASIA PTE LTD |
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Formerly Known As : |
LIFE TECH (ASIA) PTE LTD |
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Registered Office : |
150, Beach Road, 17-07/08, Gateway West, 189720 |
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Country : |
Singapore |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
18.07.1990 |
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Com. Reg. No.: |
199003514-C |
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Legal Form : |
Private Limited |
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Line of Business : |
Trading of Chemicals |
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No. of Employees : |
150 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% 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 |
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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) trading of
chemicals. The immediate and ultimate holding company of the SC is SUMITOMO
CHEMICAL COMPANY, LTD, a company incorporated in JAPAN. The major shareholder(s) of the SC are
shown as follows :
+ Also Director The SC interest in other companies
(Subsidiaries/Associates) are shown as follow :
DIRECTORS
DIRECTOR 1
DIRECTOR 2
DIRECTOR 3
DIRECTOR 4
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1) |
Name of
Subject |
: |
SOJI SAKAMOTO |
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Position |
: |
DIRECTOR |
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AUDITOR
|
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Auditor |
: |
KPMG LLP |
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Auditor'
Address |
: |
N/A |
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1) |
Company
Secretary |
: |
JEYANTHI MALA
RAMA KRISHNAN |
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IC / PP No |
: |
S7467154C |
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Address |
: |
20, JALAN
HAJIJAH, 01-18, LAGUNA GREEN, 468726, SINGAPORE. |
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No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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.
|
SOURCES OF RAW
MATERIALS: |
||
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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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 |
[ |
|
] |
|
Average 61-90
Days |
[ |
X |
] |
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Fair 91-120
Days |
[ |
|
] |
|
Poor >120
Days |
[ |
|
] |
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Local |
: |
N/A |
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|
|
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Overseas |
: |
N/A |
The SC refused to disclose its clientele information.
|
Goods Traded |
: |
CHEMICALS
|
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|
Total Number
of Employees: |
|||||||||
|
YEAR |
2013 |
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GROUP |
N/A |
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COMPANY |
150 |
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Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of chemicals.
The SC refused to disclose any information on its operation.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63035188 |
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Match |
: |
N/A |
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|
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Address
Provided by Client |
: |
150, BEACH
ROAD, # 18-05/08 GATEWAY WEST SINGAPORE 189720 |
|
Current
Address |
: |
150 BEACH
ROAD, #18-05/08 GATEWAY WEST, 189720, SINGAPORE. |
|
Match |
: |
YES |
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|
|
|
Other
Investigations
On 3rd December 2013 we contacted one of the staff from the SC and she only
provided limited information on the SC.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2010 - 2012 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2010 - 2012 |
] |
|
|
Return on
Shareholder Funds |
: |
Unfavourable |
[ |
5.32% |
] |
|
|
Return on Net
Assets |
: |
Unfavourable |
[ |
5.45% |
] |
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The SC's
turnover increased steadily as the demand for its products / services
increased due to the goodwill built up over the years.The dip in profit
could be due to the stiff market competition which reduced the SC's profit
margin. The unfavourable return on shareholders' funds could indicate that
the SC was inefficient in utilising its assets to generate returns. |
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Working
Capital Control |
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Stock Ratio |
: |
Favourable |
[ |
36 Days |
] |
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|
Debtor Ratio |
: |
Favourable |
[ |
37 Days |
] |
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|
Creditors
Ratio |
: |
Favourable |
[ |
39 Days |
] |
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The SC's
stocks were moving fast thus reducing its holding cost. This had reduced
funds being tied up in 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 where the SC could be taking advantage of the
cash discounts and also wanting to maintain goodwill with its creditors. |
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Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.67 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.28 Times |
] |
|
|
|
|
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|
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|
A low liquid
ratio means that the SC may be facing working capital deficiency. If the SC
cannot obtain additional financing or injection of fresh capital, it may
face difficulties in meeting its short term obligations. |
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Solvency |
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Interest Cover |
: |
Unfavourable |
[ |
2.11 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.37 Times |
] |
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|
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|
The SC's
interest cover was low. If its profits fall or when interest rate rises, it
may not be able to meet all its interest payment. The SC was highly geared,
thus it had a high financial risk. The SC was dependent on loans to finance
its business needs. In times of economic downturn and / or high interest
rate, the SC will become less profitable and competitive than other firms
in the same industry, which are lowly geared. This is because the SC has to
service the interest and to repay the loan, which will erode part of its
profits. The profits will fluctuate depending on the SC's turnover and the
interest it needs to pay. |
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|
Overall
Assessment : |
|
|
|
|
|
|
|
Although the
SC's turnover had increased, its profits had declined over the same
corresponding period. This could be due to the stiffer market competition
and / or higher operating costs which lowered the SC's profit margin. Due
to its weak liquidity position, the SC will be faced with problems in
meeting all its short term obligations if no short term loan is obtained or
additional capital injected into the SC. If there is a fall in the SC's
profit or any increase in interest rate, the SC may not be able to generate
sufficient cash-flow to service its interest. The SC's gearing level was
high and its going concern will be in doubt if there is no injection of
additional shareholders' funds in times of economic downturn and / or high
interest rates. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the SC : POOR |
||||||
|
Major Economic
Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
|
|
|
|
|
|
Population
(Million) |
4.84 |
4.98 |
5.08 |
5.18 |
5.31 |
|
Gross Domestic
Products ( % ) |
1.5 |
<0.8> |
14.5 |
4.9 |
1.3 |
|
Consumer Price
Index |
6.6 |
0.6 |
2.8 |
5.2 |
4.6 |
|
Total Imports
(Million) |
450,892.6 |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
|
Total Exports
(Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
|
|
|
|
|
|
|
|
Unemployment
Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
|
Tourist
Arrival (Million) |
10.12 |
9.68 |
11.64 |
13.17 |
14.37 |
|
Hotel
Occupancy Rate (%) |
81.0 |
75.8 |
85.6 |
86.5 |
86.4 |
|
Cellular Phone
Subscriber (Million) |
1.31 |
1.37 |
1.43 |
1.50 |
1.52 |
|
|
|
|
|
|
|
|
Registration of
New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
|
Registration
of New Companies (%) |
<2.2> |
4.3 |
12.8 |
8.5 |
<1.3> |
|
Liquidation of
Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
|
Liquidation of
Companies (%) |
13.7 |
113.4 |
<32.5> |
25.6 |
9.4 |
|
|
|
|
|
|
|
|
Registration
of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
|
Registration
of New Businesses (%) |
0.36 |
8.15 |
<10.78> |
2.02 |
5.51 |
|
Liquidation of
Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
|
Liquidation of
Businesses (%) |
<0.8> |
11.4 |
2.8 |
<5> |
<2.2> |
|
|
|
|
|
|
|
|
Bankruptcy
Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
|
Bankruptcy
Orders (%) |
<15.9> |
<11.5> |
<25.3> |
<0.7> |
14.5 |
|
Bankruptcy
Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
|
Bankruptcy
Discharges (%) |
<7.7> |
103.7 |
<26.3> |
<38.2> |
35.2 |
|
|
|
|
|
|
|
|
INDUSTRIES ( %
of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of
Principal Crops |
<0.32> |
3.25 |
<0.48> |
4.25 |
3.64 |
|
Fish Supply
& Wholesale |
<6.31> |
<1.93> |
<10.5> |
12.10 |
<0.5> |
|
|
|
|
|
|
|
|
Manufacturing
* |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
|
Food,
Beverages & Tobacco |
94.8 |
90.4 |
96.4 |
100.0 |
103.5 |
|
Textiles |
180.1 |
145.9 |
122.1 |
100.0 |
104.0 |
|
Wearing
Apparel |
334.6 |
211.0 |
123.3 |
100.0 |
92.1 |
|
Leather
Products & Footwear |
128.2 |
79.5 |
81.8 |
100.0 |
98.6 |
|
Wood &
Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
|
Paper &
Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
|
Printing &
Media |
118.2 |
100.9 |
103.5 |
100.0 |
93.0 |
|
Crude Oil
Refineries |
113.1 |
96.4 |
95.6 |
100.0 |
99.4 |
|
Chemical &
Chemical Products |
84.5 |
80.3 |
97.6 |
100.0 |
100.5 |
|
Pharmaceutical
Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
|
Rubber &
Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
|
Non-metallic
Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
|
Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
|
Fabricated
Metal Products |
101.3 |
90.8 |
103.6 |
100.0 |
104.3 |
|
Machinery
& Equipment |
65.0 |
57.3 |
78.5 |
100.0 |
112.9 |
|
Electrical
Machinery |
81.7 |
86.8 |
124.1 |
100.0 |
99.3 |
|
Electronic
Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
|
Transport
Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
|
|
|
|
|
|
|
|
Construction |
45.90 |
<36.9> |
14.20 |
20.50 |
28.70 |
|
Real Estate |
<11.2> |
1.4 |
21.3 |
25.4 |
31.9 |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity,
Gas & Water |
<1.3> |
1.70 |
4.00 |
7.00 |
6.30 |
|
Transport,
Storage & Communication |
11.60 |
3.90 |
12.80 |
7.40 |
5.30 |
|
Finance &
Insurance |
<5.9> |
<16.4> |
<0.4> |
8.90 |
0.50 |
|
Government
Services |
17.40 |
4.50 |
9.70 |
6.90 |
6.00 |
|
Education
Services |
0.50 |
0.10 |
<0.9> |
<1.4> |
0.30 |
|
|
|
|
|
|
|
|
* Based on
Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
(Source :
Department of Statistics) |
|
|
|
|
|
|
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 |
|
|
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
SUMITOMO
CHEMICAL ASIA PTE LTD |
|
Financial Year
End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
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 |
2,539,777,000 |
2,120,442,000 |
1,832,990,000 |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
2,539,777,000 |
2,120,442,000 |
1,832,990,000 |
|
Costs of Goods
Sold |
<2,288,025,000> |
<1,902,001,000> |
<1,610,692,000> |
|
|
---------------- |
---------------- |
---------------- |
|
Gross Profit |
251,752,000 |
218,441,000 |
222,298,000 |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
8,073,000 |
10,129,000 |
18,660,000 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS)
BEFORE TAXATION |
8,073,000 |
10,129,000 |
18,660,000 |
|
Taxation |
<1,253,000> |
<1,607,000> |
3,074,000 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS)
AFTER TAXATION |
6,820,000 |
8,522,000 |
21,734,000 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously
reported |
<29,260,000> |
<37,782,000> |
<59,516,000> |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
<29,260,000> |
<37,782,000> |
<59,516,000> |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
<22,440,000> |
<29,260,000> |
<37,782,000> |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
<22,440,000> |
<29,260,000> |
<37,782,000> |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|
|
|
|
Lease interest |
5,715,000 |
6,287,000 |
6,799,000 |
|
Term loan /
Borrowing |
1,558,000 |
1,535,000 |
1,429,000 |
|
|
---------------- |
---------------- |
---------------- |
|
|
7,273,000 |
7,822,000 |
8,228,000 |
|
SUMITOMO
CHEMICAL ASIA PTE LTD |
|
ASSETS
EMPLOYED: |
|
|
|
|
FIXED ASSETS |
164,034,000 |
131,906,000 |
127,521,000 |
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER
ASSETS |
|
|
|
|
Subsidiary
companies |
800,000 |
800,000 |
800,000 |
|
Deferred
assets |
211,000 |
1,467,000 |
3,074,000 |
|
Others |
- |
- |
123,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG
TERM INVESTMENTS/OTHER ASSETS |
1,011,000 |
2,267,000 |
3,997,000 |
|
|
|
|
|
|
INTANGIBLE
ASSETS |
|
|
|
|
Deferred/Expenditure
carried forward |
- |
- |
6,496,000 |
|
Computer
software |
3,147,000 |
5,003,000 |
- |
|
Others |
101,000 |
199,000 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
INTANGIBLE ASSETS |
3,248,000 |
5,202,000 |
6,496,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG
TERM ASSETS |
168,293,000 |
139,375,000 |
138,014,000 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Stocks |
250,030,000 |
258,953,000 |
159,360,000 |
|
Trade debtors |
256,379,000 |
428,682,000 |
181,469,000 |
|
Other debtors,
deposits & prepayments |
4,985,000 |
5,393,000 |
4,719,000 |
|
Amount due
from holding company |
902,000 |
- |
- |
|
Amount due
from related companies |
161,000 |
1,195,000 |
129,355,000 |
|
Cash &
bank balances |
11,829,000 |
6,741,000 |
8,675,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT
ASSETS |
524,286,000 |
700,964,000 |
483,578,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
692,579,000 |
840,339,000 |
621,592,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
Trade creditors |
243,615,000 |
257,760,000 |
19,565,000 |
|
Other
creditors & accruals |
142,590,000 |
122,441,000 |
61,998,000 |
|
Hire purchase
& lease creditors |
12,217,000 |
12,308,000 |
11,747,000 |
|
Short term
borrowings/Term loans |
10,000,000 |
179,966,000 |
96,912,000 |
|
Amounts owing
to holding company |
2,363,000 |
621,000 |
4,998,000 |
|
Amounts owing
to related companies |
180,000 |
232,000 |
165,575,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT
LIABILITIES |
410,965,000 |
573,328,000 |
360,795,000 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT
ASSETS/(LIABILITIES) |
113,321,000 |
127,636,000 |
122,783,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET
ASSETS |
281,614,000 |
267,011,000 |
260,797,000 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
Ordinary share
capital |
150,565,000 |
120,565,000 |
100,565,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE
CAPITAL |
150,565,000 |
120,565,000 |
100,565,000 |
|
|
|
|
|
|
RESERVES |
|
|
|
|
Retained
profit/(loss) carried forward |
<22,440,000> |
<29,260,000> |
<37,782,000> |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
<22,440,000> |
<29,260,000> |
<37,782,000> |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS'
FUNDS/EQUITY |
128,125,000 |
91,305,000 |
62,783,000 |
|
|
|
|
|
|
LONG TERM
LIABILITIES |
|
|
|
|
Long term
loans |
60,000,000 |
70,000,000 |
- |
|
Other long
term borrowings |
- |
- |
80,000,000 |
|
Lease
obligations |
93,489,000 |
105,706,000 |
- |
|
Hire purchase
creditors |
- |
- |
118,014,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM
LIABILITIES |
153,489,000 |
175,706,000 |
198,014,000 |
|
|
---------------- |
---------------- |
---------------- |
|
|
281,614,000 |
267,011,000 |
260,797,000 |
|
|
============= |
============= |
============= |
|
SUMITOMO
CHEMICAL ASIA PTE LTD |
|
TYPES OF FUNDS |
|
|
|
|
Cash |
11,829,000 |
6,741,000 |
8,675,000 |
|
Net Liquid
Funds |
11,829,000 |
6,741,000 |
8,675,000 |
|
Net Liquid
Assets |
<136,709,000> |
<131,317,000> |
<36,577,000> |
|
Net Current
Assets/(Liabilities) |
113,321,000 |
127,636,000 |
122,783,000 |
|
Net Tangible
Assets |
278,366,000 |
261,809,000 |
254,301,000 |
|
Net Monetary
Assets |
<290,198,000> |
<307,023,000> |
<234,591,000> |
|
BALANCE SHEET
ITEMS |
|
|
|
|
Total
Borrowings |
175,706,000 |
367,980,000 |
306,673,000 |
|
Total
Liabilities |
564,454,000 |
749,034,000 |
558,809,000 |
|
Total Assets |
692,579,000 |
840,339,000 |
621,592,000 |
|
Net Assets |
281,614,000 |
267,011,000 |
260,797,000 |
|
Net Assets
Backing |
128,125,000 |
91,305,000 |
62,783,000 |
|
Shareholders'
Funds |
128,125,000 |
91,305,000 |
62,783,000 |
|
Total Share
Capital |
150,565,000 |
120,565,000 |
100,565,000 |
|
Total Reserves |
<22,440,000> |
<29,260,000> |
<37,782,000> |
|
LIQUIDITY
(Times) |
|
|
|
|
Cash Ratio |
0.03 |
0.01 |
0.02 |
|
Liquid Ratio |
0.67 |
0.77 |
0.90 |
|
Current Ratio |
1.28 |
1.22 |
1.34 |
|
WORKING
CAPITAL CONTROL (Days) |
|
|
|
|
Stock Ratio |
36 |
45 |
32 |
|
Debtors Ratio |
37 |
74 |
36 |
|
Creditors
Ratio |
39 |
49 |
4 |
|
SOLVENCY
RATIOS (Times) |
|
|
|
|
Gearing Ratio |
1.37 |
4.03 |
4.88 |
|
Liabilities
Ratio |
4.41 |
8.20 |
8.90 |
|
Times Interest
Earned Ratio |
2.11 |
2.29 |
3.27 |
|
Assets Backing
Ratio |
1.85 |
2.17 |
2.53 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
Operating
Profit Margin |
0.32 |
0.48 |
1.02 |
|
Net Profit
Margin |
0.27 |
0.40 |
1.19 |
|
Return On Net
Assets |
5.45 |
6.72 |
10.31 |
|
Return On
Capital Employed |
5.17 |
6.31 |
9.64 |
|
Return On
Shareholders' Funds/Equity |
5.32 |
9.33 |
34.62 |
|
Dividend Pay
Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
|
|
|
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.66 |
|
|
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.