MIRA
INFORM REPORT
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Report Date : |
22.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SEEDWORKS SINGAPORE PTE. LTD. |
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Registered Office : |
158, Cecil Street, 11- 01, 069545 |
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Country : |
Singapore |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
23.08.2011 |
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Com. Reg. No.: |
201119975-G |
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Legal Form : |
Private Limited |
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Line of Business : |
Subject is engaged in the (as a / as an) other investment holdings companies. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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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* Adopted abbreviations : |
SC - Subject Company (the company enquired by you) |
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N/A - Not Applicable |
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EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
201119975-G |
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COMPANY NAME |
: |
SEEDWORKS SINGAPORE PTE. LTD. |
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FORMER NAME |
: |
N/A |
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INCORPORATION DATE |
: |
23/08/2011 |
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COMPANY STATUS |
: |
EXIST |
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LEGAL FORM |
: |
PRIVATE LIMITED |
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LISTED STATUS |
: |
NO |
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REGISTERED ADDRESS |
: |
158, CECIL STREET, 11- 01, 069545, SINGAPORE. |
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BUSINESS ADDRESS |
: |
6 RAFFLES QUAY, #24-04, 048580, SINGAPORE. |
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TEL.NO. |
: |
65-65327660 |
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FAX.NO. |
: |
65-65327610 |
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CONTACT PERSON |
: |
SATYAVARNI VEERASAMY ( DIRECTOR ) |
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PRINCIPAL ACTIVITY |
: |
OTHER INVESTMENT HOLDINGS COMPANIES |
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ISSUED AND PAID UP CAPITAL |
: |
96,960.00 ORDINARY SHARE, OF A VALUE OF SGD 96,950,010.00 |
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SALES |
: |
USD 981,467 [2012] |
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NET WORTH |
: |
USD 96,747,463 [2012] |
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STAFF STRENGTH |
: |
N/A |
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LITIGATION |
: |
CLEAR |
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FINANCIAL CONDITION |
: |
FAIR |
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PAYMENT |
: |
N/A |
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MANAGEMENT CAPABILITY |
: |
AVERAGE |
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COMMERCIAL RISK |
: |
N/A |
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CURRENCY EXPOSURE |
: |
N/A |
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GENERAL REPUTATION |
: |
POOR |
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INDUSTRY OUTLOOK |
: |
MARGINAL 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) other investment holdings companies.
The immediate holding company of the SC is SEEDWORKS HOLDINGS MAURITIUS C/O INTERNATIONAL MANAGEMENT (MAURITIUS) LIMITED, a company incorporated in MAURITIUS.
The ultimate holding company of the SC is WAND PARTNERS LLC, a company incorporated in UNITED STATES.
The penultimate holding company of the SC is WAND EQUITY PORTFOLOI II L.P., a company incorporated in UNITED STATES.
The major shareholder(s) of the SC are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SEEDWORKS HOLDINGS MAURITIUS C/O INTERNATIONAL MANAGEMENT (MAURITIUS) LIMITED |
LES CASCADES, EDITH CAVELL STREET, PORT LOUIS, MAURITIUS. |
T12UF0610 |
78,143.00 |
80.59 |
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SEEDWORKS HOLDINGS MAURITIUS II C/O INTERNATIONAL MANAGEMENT (MAURITIUS) LIMITED |
LES CASCADES, EDITH CAVELL STREET, PORT LOUIS, MAURITIUS. |
T12UF0611 |
18,817.00 |
19.41 |
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--------------- |
------ |
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96,960.00 |
100.00 |
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============ |
===== |
+ Also Director
The SC interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
01669980 |
PHILIPPINES |
SEEKWORKS PHILIPPINES |
100.00 |
30/06/2012 |
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011112 |
INDIA |
SEEDWORKS INTERNATIONAL PRIVATE LIMITED |
99.00 |
30/06/2012 |
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011111 |
INDIA |
SEEDWORKS INDIA PRIVATE LIMITED |
99.00 |
30/06/2012 |
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DIRECTORS
DIRECTOR 1
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Name Of Subject |
: |
MR. SATYAVARNI VEERASAMY |
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Address |
: |
633, YISHUN STREET 61, 02 - 20, 760633, SINGAPORE. |
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IC / PP No |
: |
G5149279Q |
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Nationality |
: |
MAURITIAN |
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Date of Appointment |
: |
30/10/2013 |
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DIRECTOR 2
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Name Of Subject |
: |
JOHN SEWARD STRUCK |
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Address |
: |
199, OCEAN LANE DRIVE APARTMENT, 915, KEY BISCAYNE, FL 33149, UNITED STATES. |
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IC / PP No |
: |
488773124 |
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Nationality |
: |
AMERICAN |
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Date of Appointment |
: |
23/08/2011 |
DIRECTOR 3
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Name Of Subject |
: |
THOMAS THEODORUS BAPTIST LEENDERS |
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Address |
: |
37, SWISS VIEW, 288043, SINGAPORE. |
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IC / PP No |
: |
G6052932P |
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Nationality |
: |
DUTCH |
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Date of Appointment |
: |
23/08/2011 |
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MANAGEMENT
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1) |
Name of Subject |
: |
SATYAVARNI VEERASAMY |
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Position |
: |
DIRECTOR |
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2) |
Name of Subject |
: |
GINA |
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Position |
: |
STAFF |
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AUDITOR |
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Auditor |
: |
ERNST & YOUNG LLP |
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Auditor' Address |
: |
N/A |
COMPANY SECRETARIES
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1) |
Company Secretary |
: |
FOH FUE CHING |
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IC / PP No |
: |
S7288067F |
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Address |
: |
101, SPOTTISWOODE PARK ROAD, 16 - 88, SPOTTISWOODE PARK, 080101, SINGAPORE. |
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2) |
Company Secretary |
: |
MR. SATYAVARNI VEERASAMY |
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IC / PP No |
: |
G5149279Q |
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Address |
: |
633, YISHUN STREET 61, 02 - 20, 760633, SINGAPORE. |
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3) |
Company Secretary |
: |
RAJESH APPADOO |
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IC / PP No |
: |
S7587540A |
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Address |
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21, LORONG LEW LIAN, 02 - 05, CHERRY HILL CONDOMINIUM, 536467, SINGAPORE. |
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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 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
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SOURCES OF RAW MATERIALS: |
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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The staff from the registered office refused to disclose the SC's suppliers.
CLIENTELE
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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The staff from the registered office refused to disclose the SC's clientele.
OPERATIONS
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Services |
: |
OTHER INVESTMENT HOLDINGS COMPANIES
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Branch |
: |
NO
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Other Information:
The SC is principally engaged in the (as a / as an) other investment holdings
companies.
The staff from the registered office refused to disclose the SC's operation.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the SC indicated that :
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Telephone Number Provided By Client |
: |
N/A |
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Current Telephone Number |
: |
65-65327660 |
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Match |
: |
N/A |
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Address Provided by Client |
: |
SINGAPORE |
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Current Address |
: |
6 RAFFLES QUAY, #24-04, 048580, SINGAPORE. |
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Match |
: |
NO |
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Other Investigations
we contacted one of the
staff from the registered office and she only provided limited information on
the SC.
She refused to disclose the SC's number of employees.
The address provided is incomplete.
SPECIAL REQUEST
We were unable to obtain the SC's detail information on the SC's business
operation as we only contacted the SC's registered office.
FINANCIAL ANALYSIS
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Profitability |
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Return on Shareholder Funds |
: |
Unfavourable |
[ |
0.82% |
] |
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Return on Net Assets |
: |
Unfavourable |
[ |
0.82% |
] |
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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 |
: |
Nil |
[ |
0 Days |
] |
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Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
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Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
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As the SC is a service oriented company, the SC does not need to keep stocks. The favourable debtors' days could be due to the good credit control measures implemented by the SC. The SC had a favourable creditors' ratio 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 |
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Liquid Ratio |
: |
Favourable |
[ |
10.37 Times |
] |
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Current Ratio |
: |
Favourable |
[ |
10.37 Times |
] |
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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. |
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Solvency |
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Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
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Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
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The SC's interest cover was nil as it did not pay any interest during the year. The SC had no gearing and hence it had virtually no financial risk. The SC was financed by its shareholders' funds and internally generated fund. During the economic downturn, the SC, having a zero gearing, will be able to compete better than those which are highly geared in the same industry. |
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Overall Assessment : |
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The SC was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the SC should be able to repay its short term obligations. The SC did not make any interest payment during the year. The SC was dependent on its shareholders' funds to finance its business needs. The SC was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The SC has good chance of getting loans, if the needs arises. |
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Overall financial condition of the SC : FAIR |
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SINGAPORE ECONOMIC / INDUSTRY
OUTLOOK
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Major Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
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Population (Million) |
4.84 |
4.98 |
5.08 |
5.18 |
5.31 |
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Gross Domestic Products ( % ) |
1.5 |
<0.8> |
14.5 |
4.9 |
1.3 |
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Consumer Price Index |
6.6 |
0.6 |
2.8 |
5.2 |
4.6 |
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Total Imports (Million) |
450,892.6 |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
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Total Exports (Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
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Unemployment Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
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Tourist Arrival (Million) |
10.12 |
9.68 |
11.64 |
13.17 |
14.37 |
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Hotel Occupancy Rate (%) |
81.0 |
75.8 |
85.6 |
86.5 |
86.4 |
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Cellular Phone Subscriber (Million) |
1.31 |
1.37 |
1.43 |
1.50 |
1.52 |
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Registration of New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
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Registration of New Companies (%) |
<2.2> |
4.3 |
12.8 |
8.5 |
<1.3> |
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Liquidation of Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
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Liquidation of Companies (%) |
13.7 |
113.4 |
<32.5> |
25.6 |
9.4 |
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Registration of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
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Registration of New Businesses (%) |
0.36 |
8.15 |
<10.78> |
2.02 |
5.51 |
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Liquidation of Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
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Liquidation of Businesses (%) |
<0.8> |
11.4 |
2.8 |
<5> |
<2.2> |
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Bankruptcy Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
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Bankruptcy Orders (%) |
<15.9> |
<11.5> |
<25.3> |
<0.7> |
14.5 |
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Bankruptcy Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
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Bankruptcy Discharges (%) |
<7.7> |
103.7 |
<26.3> |
<38.2> |
35.2 |
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INDUSTRIES ( % of Growth ) : |
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Agriculture |
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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> |
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Manufacturing * |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
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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 |
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Wood & Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
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Paper & Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
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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 |
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Pharmaceutical Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
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Rubber & Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
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Non-metallic Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
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Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
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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 |
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Electronic Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
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Transport Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
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Construction |
45.90 |
<36.9> |
14.20 |
20.50 |
28.70 |
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Real Estate |
<11.2> |
1.4 |
21.3 |
25.4 |
31.9 |
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Services |
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Electricity, Gas & Water |
<1.3> |
1.70 |
4.00 |
7.00 |
6.30 |
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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 |
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* Based on Index of Industrial Production (2011 = 100) |
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(Source : Department of Statistics) |
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INDUSTRY ANALYSIS
|
INDUSTRY : |
ECONOMY |
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According to Ministry of Trade and Industry (MTI), the Singapore economy is expected to grow by 1.0 to 3.0% in 2013 as growth in the global economy is likely to remain subdued despite macroeconomic conditions stablising in recent months of 2013. |
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However, the global economic outlook is still clouded with uncertainties. Notably, concerns remain over the extent of the fiscal cutback with the budget sequester in the US and potential flareup of the debt crisis in the Eurozone. Should any of these risks materialise, Singapore's economic growth could come in lower than expected. |
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Although resilient domestic demand in emerging Asia will provide some support to global demand, it will not fully mitigate the effects of an economic slowdown in the advanced economies. Consequently, Singapore's externally-oriented sectors such as electronics and wholesale trade will continue to perform poorly, while the financial services sector will be affected by heightened uncertainties in the external environment. Nevertheless, there will be some modest support to growth from the biomedical manufacturing cluster and tourism-related sectors. The former will likely see increased production of active pharmaceutical ingredients and biologics while the latter will benefit from rising visitor arrivals from the region. |
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For the whole of 2012, Singapore's GDP growth slowed to 1.3%, from 5.2% in 2011, mainly due to weakness in the externally-oriented sectors. Manufacturing sector growth slowed sharply from 7.8% in the year 2011 to 0.1%. The hudge decline was largely due to a rebound in the output of the biomedical manufacturing and transport engineering clusters, which together helped to mitigate part of the fall in output in the electronics cluster. By contrast, the construction sector growth accelerated from 6.3% to 8.2% in 2012, due to the expansion in both public and private building activities. |
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Growth in the services producing industries also moderated to 1.2% in 2012, compared to 4.6% in 2011. This was mainly due to the slowdown in wholesale and retail trade, accommodation and food services as well as other services industries. In particular, the wholesale and retail trade sector contracted by 0.7%, compared to the 1.6% growth in year 2011. The accommodation and food services as well as other services industries posted lower gains of 2.8% and 0.1% respectively, compared to 8.2% and 6.3% in 2011. |
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For the whole of 2012, all sectors, except the wholesale and retail trade, contributed to growth. Business services was the largest contributor with 0.4 percentage-points, followed by construction with 0.3 percentage-points and transportation and storage at 0.2 percentagepoints. Besides, growth in total demand moderated to 2.4%, compared to 4.2% in 2011. Domestic demand was the key contributor to total demand growth, accounting for 2.2 percentage-points, or over 90 per cent, of the increase. |
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In 2012, total domestic demand rose by 9.7%, following the 6.5% increase in 2011. The growth in total domestic demand was broad-based across consumption, gross fixed capital formation (GFCF) and changes in inventories. The total consumption expenditure in 2012 grew slightly by 0.9%, easing from the 3.7% growth in 2011. Public consumption expenditure fell by 3.6%, reversing the 0.5% growth in 2011. Private consumption expenditure registered a 2.2% gain, moderating from the 4.6% increase in the preceding year. |
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Overall, the Singapore economy is expected to grow by 1.0 to 3.0% in 2013. |
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OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
SEEDWORKS SINGAPORE PTE. LTD. |
|
Financial Year End |
2012-06-30 |
|
Months |
9 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
|
Financial Type |
FULL |
|
Currency |
USD |
|
|
|
|
TURNOVER |
981,467 |
|
|
---------------- |
|
Total Turnover |
981,467 |
|
|
---------------- |
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
797,453 |
|
|
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
797,453 |
|
|
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
797,453 |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
797,453 |
|
|
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
797,453 |
|
|
============= |
|
|
|
BALANCE SHEET
|
SEEDWORKS SINGAPORE PTE. LTD. |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
Subsidiary companies |
94,972,008 |
|
|
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
94,972,008 |
|
|
|
|
|
---------------- |
|
TOTAL LONG TERM ASSETS |
94,972,008 |
|
|
|
|
CURRENT ASSETS |
|
|
Other debtors, deposits & prepayments |
18,789 |
|
Cash & bank balances |
1,946,201 |
|
|
---------------- |
|
TOTAL CURRENT ASSETS |
1,964,990 |
|
|
---------------- |
|
TOTAL ASSET |
96,936,998 |
|
|
============= |
|
|
|
|
CURRENT LIABILITIES |
|
|
Other creditors & accruals |
17,527 |
|
Amounts owing to related companies |
172,008 |
|
|
---------------- |
|
TOTAL CURRENT LIABILITIES |
189,535 |
|
|
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,775,455 |
|
|
---------------- |
|
TOTAL NET ASSETS |
96,747,463 |
|
|
============= |
|
|
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
95,950,010 |
|
|
---------------- |
|
TOTAL SHARE CAPITAL |
95,950,010 |
|
|
|
|
RESERVES |
|
|
Retained profit/(loss) carried forward |
797,453 |
|
|
---------------- |
|
TOTAL RESERVES |
797,453 |
|
|
|
|
|
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
96,747,463 |
|
|
|
|
|
---------------- |
|
|
96,747,463 |
|
|
============= |
FINANCIAL RATIO
|
SEEDWORKS SINGAPORE PTE. LTD. |
|
TYPES OF FUNDS |
|
|
Cash |
1,946,201 |
|
Net Liquid Funds |
1,946,201 |
|
Net Liquid Assets |
1,775,455 |
|
Net Current Assets/(Liabilities) |
1,775,455 |
|
Net Tangible Assets |
96,747,463 |
|
Net Monetary Assets |
1,775,455 |
|
BALANCE SHEET ITEMS |
|
|
Total Borrowings |
0 |
|
Total Liabilities |
189,535 |
|
Total Assets |
96,936,998 |
|
Net Assets |
96,747,463 |
|
Net Assets Backing |
96,747,463 |
|
Shareholders' Funds |
96,747,463 |
|
Total Share Capital |
95,950,010 |
|
Total Reserves |
797,453 |
|
LIQUIDITY (Times) |
|
|
Cash Ratio |
10.27 |
|
Liquid Ratio |
10.37 |
|
Current Ratio |
10.37 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
Stock Ratio |
0 |
|
Debtors Ratio |
0 |
|
Creditors Ratio |
0 |
|
SOLVENCY RATIOS (Times) |
|
|
Gearing Ratio |
0.00 |
|
Liabilities Ratio |
0.00 |
|
Times Interest Earned Ratio |
0.00 |
|
Assets Backing Ratio |
1.01 |
|
PERFORMANCE RATIO (%) |
|
|
Operating Profit Margin |
81.25 |
|
Net Profit Margin |
81.25 |
|
Return On Net Assets |
0.82 |
|
Return On Capital Employed |
0.82 |
|
Return On Shareholders' Funds/Equity |
0.82 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
Contingent Liabilities |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.89 |
|
|
1 |
Rs.101.14 |
|
Euro |
1 |
Rs.84.42 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.