|
Report Date : |
01.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
GRM RESOURCES PTE. LTD. |
|
|
|
|
Registered Office : |
7, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.11.2004 |
|
|
|
|
Com. Reg. No.: |
200415047-Z |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading of Coal and Minerals |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source : CIA |
|
The SC is an exempt private company whose shares are not
held by any corporate body and has no more than 20 shareholders who are all
natural persons. An exempt company is a type of private limited company. 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, suing or be sued by other companies. An exempt private company
with an annual turnover of less than SGD5 million are exempted from statutory
auditing requirements. Instead of filing audited annual accounts, the SC has
to file in a document duly signed by its director in charge of its finance
and the company secretary stating that the SC is able to meet all its obligations
as and when they fall due. The SC is not required to have their accounts
audited. However, the SC will prepare unaudited accounts for purposes of AGMs
and filing with Registry Office if it is unable to meet all its obligations
as and when they fall due . The SC is principally engaged in the (as a / as an)
trading of coal and minerals. 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 :
DIRECTOR
1
DIRECTOR
2
DIRECTOR
3
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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1)
|
Name
of Subject |
: |
RAJEEV
MAHESHWARI |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
AUDITOR
|
No Auditor found in our databank
COMPANY SECRETARIES
|
|
1)
|
Company
Secretary |
: |
HUANG
YULUAN @ NG GEOK LAN |
|
|
IC
/ PP No |
: |
S1592193E |
|
|
|
|
|
|
|
Address |
: |
573,
PASIR RIS STREET 53, 14-30, 510573, SINGAPORE. |
|
|
|
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|
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|
|
|
|
|
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|
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BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
BNP
PARIBAS |
|
|
|
|
|
|
|
|
|
|
|
2)
|
Name |
: |
MALAYAN
BANKING BHD |
|
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|
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|
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|
ENCUMBRANCE
(S) |
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C200503640 |
27/06/2005 |
N/A |
BNP
PARIBAS |
N/A |
Unsatisfied |
|
C200600760 |
02/02/2006 |
N/A |
MALAYAN
BANKING BHD |
N/A |
Unsatisfied |
|
C200608474 |
15/12/2006 |
N/A |
MALAYAN
BANKING BHD |
N/A |
Unsatisfied |
|
C200701003 |
02/02/2007 |
N/A |
MALAYAN
BANKING BHD |
N/A |
Unsatisfied |
|
C200805433 |
18/06/2008 |
N/A |
MALAYAN
BANKING BHD |
N/A |
Unsatisfied |
|
C200808698 |
17/09/2008 |
N/A |
MALAYAN
BANKING BHD |
N/A |
Unsatisfied |
|
C200905160 |
19/08/2009 |
N/A |
MALAYAN
BANKING BHD |
N/A |
Unsatisfied |
|
C201001089 |
03/02/2010 |
N/A |
MALAYAN
BANKING BHD |
N/A |
Unsatisfied |
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 |
: |
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 |
: |
WORLDWIDE |
||||||||
|
Credit
Term |
: |
AS
AGREED |
||||||||
|
|
|
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|
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|
|||||
|
Payment
Mode |
: |
CHEQUES |
||||||||
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|||||
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|||||
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|
|||||
OPERATIONS
|
||||||||||
|
Goods
Traded |
: |
COAL
AND MINERALS
|
||||||||
|
|
|
|
||||||||
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
10 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) trading of coal and
minerals.
The SC trades in minerals.
The SC however refused to disclose further information on its operation.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the SC indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63346868 |
|
Match |
: |
N/A |
|
|
|
|
|
Address
Provided by Client |
: |
7
TAMASEK BOULEVARD 21-02 SUNTEC TOWER ONE SINGAPORE -038987 |
|
Current
Address |
: |
7,
TEMASEK BOULEVARD, #21-02, SUNTEC TOWER ONE, 038987, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
Other
Investigations
On 29th October 2013 we contacted one of the staff from the Admin Department.
She provided some information on the SC.
The address provided is incomplete.
FINANCIAL ANALYSIS
|
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
9.27% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
1,003.91% |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
39.07% |
] |
|
|
Return
on Net Assets |
: |
Acceptable |
[ |
25.33% |
] |
|
|
|
|
|
|
|
|
|
|
The
lower turnover could be due to the unfavourable market conditions.The SC's
management have been efficient in controlling its operating costs.
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 |
: |
Favourable |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
41
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
50
Days |
] |
|
|
|
|
|
|
|
|
|
|
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. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid
Ratio |
: |
Acceptable |
[ |
0.81
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.81
Times |
] |
|
|
|
|
|
|
|
|
|
|
The
SC's liquid ratio was slightly low. This could indicate that the SC's
working capital was slightly deficient. The SC will have to improve its
liquidity position either by obtaining short term financing or increase its
paid up capital so that it can meet all its short term obligations as and
when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest
Cover |
: |
Favourable |
[ |
39.05
Times |
] |
|
|
Gearing
Ratio |
: |
Acceptable |
[ |
0.86
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's gearing was slightly high.
The SC is utilising the leverage concept to fund its expansion. However,
the high gearing has added financial risks to the SC. It will be more
vulnerable in times of economy downturn. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment : |
|
|
|
|
|
|
|
Due
to the efficient control of its operating costs, the SC was able to remain
profitable despite lower turnover achieved during the year. The SC's
liquidity was at an acceptable range. If the SC is able to obtain further
short term financing, it should be able to meet all 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's
gearing was slightly high and its financial risk was also high. If no plans
are made to reduce its gearing, the SC's performance may deteriorate in the
coming year. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the SC : STABLE |
||||||
SINGAPORE ECONOMIC / INDUSTRY
OUTLOOK
|
|
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 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 |
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT |
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
GRM
RESOURCES PTE. LTD. |
|
Financial
Year End |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
|
|
|
|
TURNOVER |
318,123,119 |
350,610,903 |
|
|
---------------- |
---------------- |
|
Total
Turnover |
318,123,119 |
350,610,903 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
19,088,267 |
1,729,156 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS)
BEFORE TAXATION |
19,088,267 |
1,729,156 |
|
Taxation |
<2,452,474> |
<576,473> |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS)
AFTER TAXATION |
16,635,793 |
1,152,683 |
|
Minority
interests |
672,850 |
- |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS)
BEFORE EXTRAORDINARY ITEMS |
17,308,643 |
1,152,683 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS)
ATTRIBUTABLE TO SHAREHOLDERS |
17,308,643 |
1,152,683 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As
previously reported |
12,660,222 |
11,507,539 |
|
|
---------------- |
---------------- |
|
As
restated |
12,660,222 |
11,507,539 |
|
|
---------------- |
---------------- |
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
29,968,865 |
12,660,222 |
|
|
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
29,968,865 |
12,660,222 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|
|
|
Hire
purchase |
57,719 |
- |
|
Trust
receipts |
309,942 |
26,563 |
|
Others |
134,042 |
181,564 |
|
|
---------------- |
---------------- |
|
|
501,703 |
208,127 |
|
|
============= |
============= |
|
BALANCE
SHEET |
|
GRM
RESOURCES PTE. LTD. |
|
ASSETS
EMPLOYED: |
|
|
|
FIXED
ASSETS |
65,636,309 |
11,318,018 |
|
|
|
|
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|
|
|
Investments |
300,000 |
300,000 |
|
Others |
21,886,508 |
10,000,000 |
|
|
---------------- |
---------------- |
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
22,186,508 |
10,300,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL
LONG TERM ASSETS |
87,822,817 |
21,618,018 |
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
Stocks |
283,273 |
- |
|
Trade
debtors |
36,066,167 |
6,429,613 |
|
Other
debtors, deposits & prepayments |
6,238,424 |
24,088,960 |
|
Cash
& bank balances |
2,890,689 |
3,107,403 |
|
|
---------------- |
---------------- |
|
TOTAL
CURRENT ASSETS |
45,478,553 |
33,625,976 |
|
|
---------------- |
---------------- |
|
TOTAL
ASSET |
133,301,370 |
55,243,994 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
Trade
creditors |
43,408,034 |
23,140,403 |
|
Other
creditors & accruals |
4,879,842 |
70,688 |
|
Short
term borrowings/Term loans |
5,208,010 |
1,621,525 |
|
Provision
for taxation |
2,461,870 |
327,100 |
|
|
---------------- |
---------------- |
|
TOTAL
CURRENT LIABILITIES |
55,957,756 |
25,159,716 |
|
|
---------------- |
---------------- |
|
NET
CURRENT ASSETS/(LIABILITIES) |
<10,479,203> |
8,466,260 |
|
|
---------------- |
---------------- |
|
TOTAL
NET ASSETS |
77,343,614 |
30,084,278 |
|
|
============= |
============= |
|
|
|
|
|
SHARE
CAPITAL |
|
|
|
Ordinary
share capital |
15,000,000 |
15,000,000 |
|
|
---------------- |
---------------- |
|
TOTAL
SHARE CAPITAL |
15,000,000 |
15,000,000 |
|
|
|
|
|
RESERVES |
|
|
|
Retained
profit/(loss) carried forward |
29,968,865 |
12,660,222 |
|
|
---------------- |
---------------- |
|
TOTAL
RESERVES |
29,968,865 |
12,660,222 |
|
|
|
|
|
MINORITY
INTEREST |
<667,100> |
- |
|
|
---------------- |
---------------- |
|
SHAREHOLDERS'
FUNDS/EQUITY |
44,301,765 |
27,660,222 |
|
|
|
|
|
LONG
TERM LIABILITIES |
|
|
|
Long
term loans |
33,036,749 |
2,418,956 |
|
Deferred
taxation |
5,100 |
5,100 |
|
|
---------------- |
---------------- |
|
TOTAL
LONG TERM LIABILITIES |
33,041,849 |
2,424,056 |
|
|
---------------- |
---------------- |
|
|
77,343,614 |
30,084,278 |
|
|
============= |
============= |
|
FINANCIAL
RATIO |
|
GRM
RESOURCES PTE. LTD. |
|
TYPES
OF FUNDS |
|
|
|
Cash |
2,890,689 |
3,107,403 |
|
Net
Liquid Funds |
2,890,689 |
3,107,403 |
|
Net
Liquid Assets |
<10,762,476> |
8,466,260 |
|
Net
Current Assets/(Liabilities) |
<10,479,203> |
8,466,260 |
|
Net
Tangible Assets |
77,343,614 |
30,084,278 |
|
Net
Monetary Assets |
<43,804,325> |
6,042,204 |
|
BALANCE
SHEET ITEMS |
|
|
|
Total
Borrowings |
38,244,759 |
4,040,481 |
|
Total
Liabilities |
88,999,605 |
27,583,772 |
|
Total
Assets |
133,301,370 |
55,243,994 |
|
Net
Assets |
77,343,614 |
30,084,278 |
|
Net
Assets Backing |
44,301,765 |
27,660,222 |
|
Shareholders'
Funds |
44,301,765 |
27,660,222 |
|
Total
Share Capital |
15,000,000 |
15,000,000 |
|
Total
Reserves |
29,968,865 |
12,660,222 |
|
LIQUIDITY
(Times) |
|
|
|
Cash
Ratio |
0.05 |
0.12 |
|
Liquid
Ratio |
0.81 |
1.34 |
|
Current
Ratio |
0.81 |
1.34 |
|
WORKING
CAPITAL CONTROL (Days) |
|
|
|
Stock
Ratio |
0 |
0 |
|
Debtors
Ratio |
41 |
7 |
|
Creditors
Ratio |
50 |
24 |
|
SOLVENCY
RATIOS (Times) |
|
|
|
Gearing
Ratio |
0.86 |
0.15 |
|
Liabilities
Ratio |
2.01 |
1.00 |
|
Times
Interest Earned Ratio |
39.05 |
9.31 |
|
Assets
Backing Ratio |
5.16 |
2.01 |
|
PERFORMANCE
RATIO (%) |
|
|
|
Operating
Profit Margin |
6.00 |
0.49 |
|
Net
Profit Margin |
5.44 |
0.33 |
|
Return
On Net Assets |
25.33 |
6.44 |
|
Return
On Capital Employed |
25.55 |
6.44 |
|
Return
On Shareholders' Funds/Equity |
39.07 |
4.17 |
|
Dividend
Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES
TO ACCOUNTS |
|
|
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.49 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.84.49 |
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.