|
Report Date : |
19.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
PEGASUS SEWING
MACHINE PTE. LTD. |
|
|
|
|
Registered Office : |
135, Joo Seng Road, 03-04, 368363 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
03.11.1981 |
|
|
|
|
Com. Reg. No.: |
198105124-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Sewing Machines. |
|
|
|
|
No. of Employees : |
23 |
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) |
|
198105124-G |
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 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 |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
N/A - Not Applicable |
||
|
REGISTRATION NO. |
: |
198105124-G |
||||
|
COMPANY NAME |
: |
PEGASUS SEWING MACHINE PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
03/11/1981 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
135, JOO SENG ROAD, 03-04, 368363, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
135 JOO SENG ROAD, 03-04, PM INDUSTRIAL BUILDING, 368363, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62963638 |
||||
|
FAX.NO. |
: |
65-62972353 |
||||
|
WEB SITE |
: |
WWW.PEGASUS.COM.SG |
||||
|
CONTACT PERSON |
: |
TAN CHOON CHUAN ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF SEWING MACHINES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
400,000.00 ORDINARY SHARE, OF A VALUE OF SGD 400,000.00 |
||||
|
SALES |
: |
USD 48,757,018 [2012] |
||||
|
NET WORTH |
: |
USD 8,188,624 [2012] |
||||
|
STAFF STRENGTH |
: |
23 [2013] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
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 sewing machines.
The ultimate holding company of the SC is PEGASUS SEWING MACHINE MANUFACTURING CO. LTD., a company incorporated in JAPAN.
The major shareholder(s) of the SC are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PEGASUS SEWING MACHINE MANUFACTURING CO. LTD. |
7-2, SAGISU 5-CHOME, FUKUSHIMA-KU, OSAKA 533, JAPAN. |
S81UF0229 |
400,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
400,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
YASUYUKI FUNABIKI |
|
Address |
: |
B501, 1-2, AKUTAGAWA-CHO, TAKATSUKI-SHI, OSAKA, JAPAN. |
|
IC / PP No |
: |
TG6156436 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
23/06/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
MORIAKI SHIMIZU |
|
Address |
: |
12-31, OKAMOTO 5 - CHOME, HIGASHINADA-KU KOBE-CITY, HYOGO PREFECTURE, JAPAN. |
|
IC / PP No |
: |
TK0345742 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
05/01/1998 |
DIRECTOR 3
|
Name Of Subject |
: |
TAN CHOON CHUAN |
|
Address |
: |
3, ST. MICHAEL'S ROAD, 25-05, ONE ST MICHAEL'S, 328007, SINGAPORE. |
|
IC / PP No |
: |
S1658663C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
21/07/2003 |
DIRECTOR 4
|
Name Of Subject |
: |
TAKASHI ASAKO |
|
Address |
: |
135, JOO SENG ROAD, 03-04, 368363, SINGAPORE. |
|
IC / PP No |
: |
G5407318L |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/03/2013 |
DIRECTOR 5
|
Name Of Subject |
: |
KOJI SUENAGA |
|
Address |
: |
4-22-9, HIMURO-CHO, TAKATSUKI-SHI, OSAKA, JAPAN. |
|
IC / PP No |
: |
TH7494174 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
23/06/2009 |
DIRECTOR 6
|
Name Of Subject |
: |
MASAO KATSURA |
|
Address |
: |
6-3-25, TANABE, HIGASHI-SUMIYOSHI-KU, OSAKA, JAPAN. |
|
IC / PP No |
: |
TK0845403 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
10/07/2000 |
|
1) |
Name of Subject |
: |
TAN CHOON CHUAN |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
CHAN LILY |
|
IC / PP No |
: |
S2668267C |
|
|
Address |
: |
259A, COMPASSVALE ROAD, 13-609, 541259, SINGAPORE. |
|
Banking relations are maintained principally
with :
|
1) |
Name |
: |
HSBC PRIVATE BANK (SUISSE) SA |
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: |
||
|
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 |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIAN PACIFIC REGION |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
The SC provides different credit term to
different customers.
|
Goods Traded |
: |
SEWING MACHINES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
23 |
||||||||
|
Branch |
: |
NO |
Other Information:
The SC is principally engaged in the (as a / as
an) trading of sewing machines.
The SC is one of the companies listed under the
PEGASUS group of companies.
The SC specializing in industrial sewing
machines that produce chainstitches.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62963638 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
135, JOO SENG ROAD, 03-04 PM INDUSTRIAL BUILDING, SINGAPORE 365363 |
|
Current Address |
: |
135 JOO SENG ROAD, 03-04, PM INDUSTRIAL BUILDING, 368363, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the SC and she
provided some information on the SC.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2012 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2012 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
4.25% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
7.92% |
] |
|
|
The SC's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The management had succeeded in turning the SC into a profit making company. The profit could be due to better control of its operating costs and efficiency in utilising its resources. 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 |
: |
Unfavourable |
[ |
93 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
126 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
206 Days |
] |
|
|
The SC could be incurring higher holding cost. As its capital was tied up in stocks, it could face liquidity problems. The SC's debtors ratio was high. The SC should tighten its credit control and improve its collection period. The unfavourable creditors' ratio could be due to the SC taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the SC and its suppliers and the SC may inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Acceptable |
[ |
0.82 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.34 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 |
: |
Unfavourable |
[ |
2.16 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
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 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 higher turnover had helped to reduce the SC's losses. 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. 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 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 : LIMITED |
||||||
|
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) |
|
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. |
|
PEGASUS SEWING MACHINE 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 |
48,757,018 |
46,484,709 |
44,621,887 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
48,757,018 |
46,484,709 |
44,621,887 |
|
Costs of Goods Sold |
<42,110,584> |
<40,528,819> |
<38,883,875> |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
6,646,434 |
5,955,890 |
5,738,012 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
347,879 |
<362,872> |
141,246 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
347,879 |
<362,872> |
141,246 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
347,879 |
<362,872> |
141,246 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
7,657,311 |
8,020,183 |
7,878,937 |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
7,657,311 |
8,020,183 |
7,878,937 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
8,005,190 |
7,657,311 |
8,020,183 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
8,005,190 |
7,657,311 |
8,020,183 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Loan from holding company |
184,246 |
131,549 |
95,906 |
|
Others |
116,743 |
49,453 |
15,215 |
|
---------------- |
---------------- |
---------------- |
|
|
300,989 |
181,002 |
111,121 |
|
PEGASUS SEWING MACHINE PTE. LTD. |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
6,419 |
15,730 |
34,586 |
|
INTANGIBLE ASSETS |
|||
|
Others |
54,448 |
54,448 |
54,448 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
54,448 |
54,448 |
54,448 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
60,867 |
70,178 |
89,034 |
|
CURRENT ASSETS |
|||
|
Stocks |
12,379,655 |
13,285,807 |
6,900,881 |
|
Trade debtors |
16,879,291 |
15,566,151 |
17,431,067 |
|
Other debtors, deposits & prepayments |
110,647 |
90,590 |
97,182 |
|
Short term deposits |
500,000 |
550,000 |
1,650,000 |
|
Cash & bank balances |
2,098,855 |
2,530,848 |
1,092,208 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
31,968,448 |
32,023,396 |
27,171,338 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
32,029,315 |
32,093,574 |
27,260,372 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
23,719,073 |
24,128,352 |
18,860,586 |
|
Other creditors & accruals |
121,618 |
124,477 |
116,368 |
|
Other liabilities |
- |
- |
79,801 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
23,840,691 |
24,252,829 |
19,056,755 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
8,127,757 |
7,770,567 |
8,114,583 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
8,188,624 |
7,840,745 |
8,203,617 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
183,434 |
183,434 |
183,434 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
183,434 |
183,434 |
183,434 |
|
RESERVES |
|||
|
Retained profit/(loss) carried forward |
8,005,190 |
7,657,311 |
8,020,183 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
8,005,190 |
7,657,311 |
8,020,183 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
8,188,624 |
7,840,745 |
8,203,617 |
|
---------------- |
---------------- |
---------------- |
|
|
8,188,624 |
7,840,745 |
8,203,617 |
|
|
============= |
============= |
============= |
|
PEGASUS SEWING MACHINE PTE. LTD. |
|
TYPES OF FUNDS |
|||
|
Cash |
2,598,855 |
3,080,848 |
2,742,208 |
|
Net Liquid Funds |
2,598,855 |
3,080,848 |
2,742,208 |
|
Net Liquid Assets |
<4,251,898> |
<5,515,240> |
1,213,702 |
|
Net Current Assets/(Liabilities) |
8,127,757 |
7,770,567 |
8,114,583 |
|
Net Tangible Assets |
8,134,176 |
7,786,297 |
8,149,169 |
|
Net Monetary Assets |
<4,251,898> |
<5,515,240> |
1,213,702 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
0 |
|
Total Liabilities |
23,840,691 |
24,252,829 |
19,056,755 |
|
Total Assets |
32,029,315 |
32,093,574 |
27,260,372 |
|
Net Assets |
8,188,624 |
7,840,745 |
8,203,617 |
|
Net Assets Backing |
8,188,624 |
7,840,745 |
8,203,617 |
|
Shareholders' Funds |
8,188,624 |
7,840,745 |
8,203,617 |
|
Total Share Capital |
183,434 |
183,434 |
183,434 |
|
Total Reserves |
8,005,190 |
7,657,311 |
8,020,183 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.11 |
0.13 |
0.14 |
|
Liquid Ratio |
0.82 |
0.77 |
1.06 |
|
Current Ratio |
1.34 |
1.32 |
1.43 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
93 |
104 |
56 |
|
Debtors Ratio |
126 |
122 |
143 |
|
Creditors Ratio |
206 |
217 |
177 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
2.91 |
3.09 |
2.32 |
|
Times Interest Earned Ratio |
2.16 |
<1.00> |
2.27 |
|
Assets Backing Ratio |
44.34 |
42.45 |
44.43 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
0.71 |
<0.78> |
0.32 |
|
Net Profit Margin |
0.71 |
<0.78> |
0.32 |
|
Return On Net Assets |
7.92 |
<2.32> |
3.08 |
|
Return On Capital Employed |
7.87 |
<2.30> |
3.06 |
|
Return On Shareholders' Funds/Equity |
4.25 |
<4.63> |
1.72 |
|
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.62.63 |
|
|
1 |
Rs.101.06 |
|
Euro |
1 |
Rs.84.56 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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.