MIRA INFORM REPORT

Report Date :

29.11.2013

IDENTIFICATION DETAILS

Name :	WORLDWIDE UNIX (S) PTE LTD
Registered Office :	151, Pasir Panjang Road, 03-01, Pasir Panjang Distripark, 118480
Country :	Singapore
Financials (as on) :	30.04.2013
Date of Incorporation :	17.02.1990
Com. Reg. No.:	199000745-K
Legal Form :	Private Limited
Line of Business :	Trading of electronic products
No. of Employees :	30

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
Payment Behaviour :	Slow
Litigation :	--

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 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
Singapore	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

SINGAPORE - ECONOMIC OVERVIEW

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 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

EXECUTIVE SUMMARY

REGISTRATION NO.	:	199000745-K
COMPANY NAME	:	WORLDWIDE UNIX (S) PTE LTD
FORMER NAME	:	N/A
INCORPORATION DATE	:	17/02/1990
COMPANY STATUS	:	EXIST
LEGAL FORM	:	PRIVATE LIMITED
LISTED STATUS	:	NO
REGISTERED ADDRESS	:	151, PASIR PANJANG ROAD, 03-01, PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.
BUSINESS ADDRESS	:	151 PASIR PANJANG ROAD, 03-01 PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.
TEL.NO.	:	65-62722792
FAX.NO.	:	65-62723130
CONTACT PERSON	:	HIROTOSHI KADOGUCHI ( MANAGING DIRECTOR )
PRINCIPAL ACTIVITY	:	TRADING OF ELECTRONIC PRODUCTS
ISSUED AND PAID UP CAPITAL	:	300,000.00 ORDINARY SHARE, OF A VALUE OF SGD 300,000.00
SALES	:	USD 218,201,769 [2013]
NET WORTH	:	USD 1,620,473 [2013]
STAFF STRENGTH	:	30 [2013]
LITIGATION	:	TRACED
FINANCIAL CONDITION	:	LIMITED
MANAGEMENT CAPABILITY	:	AVERAGE
COMMERCIAL RISK	:	LOW
CURRENCY EXPOSURE	:	MODERATE
GENERAL REPUTATION	:	SATISFACTORY
INDUSTRY OUTLOOK	:	AVERAGE GROWTH

HISTORY / BACKGROUND

The SC is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the SC must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the SC is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the SC is insolvent. The SC is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.

The SC is principally engaged in the (as a / as an) trading of electronic products.

The immediate and ultimate holding company of the SC is WORLDWIDE CORPORATION 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	(%)
SHUJI OZAWA +	15-27, 4-CHOME SONE-NISHI MACHI, TOYONAKA CITY OSAKA PREF, JAPAN.	TK6666148	60,000.00	20.00
MR. HIROTOSHI KADOGUCHI +	31B, PASIR PANJANG CLOSE, PASIR PANJANG COURT, 118977, SINGAPORE.	S2745923D	60,000.00	20.00
TAN BEE LING +	23, WEST COAST CRESCENT, 14-08, BLUE HORIZON, 128046, SINGAPORE.	S1821922J	6,000.00	2.00
WORLDWIDE CORPORATION CO. LTD	KOLMAR KITAHAMA BUILDING 5F, 1-6-19, IMABASHI CHUO-KU OSAKA CITY, OSAKA, 541-0042, JAPAN.	T06UF0339	174,000.00	58.00
			---------------	------
			300,000.00	100.00
			============	=====

+ Also Director

The SC interest in other companies (Subsidiaries/Associates) are shown as follow :

Local No	Country	Company	(%)	As At
011188	INDONESIA	PT WORLDWIDE INDONESIA	99.00	30/04/2013

DIRECTORS

DIRECTOR 1

Name Of Subject	:	TAN BEE LING
Address	:	23, WEST COAST CRESCENT, 14-08, BLUE HORIZON, 128046, SINGAPORE.
IC / PP No	:	S1821922J
Nationality	:	SINGAPOREAN
Date of Appointment	:	18/04/2002

DIRECTOR 2

Name Of Subject	:	SHUJI OZAWA
Address	:	15-27, 4-CHOME SONE-NISHI MACHI, TOYONAKA CITY OSAKA PREF, JAPAN.
IC / PP No	:	TK6666148
Nationality	:	JAPANESE
Date of Appointment	:	17/02/1990

DIRECTOR 3

Name Of Subject	:	MR. HIROTOSHI KADOGUCHI
Address	:	31B, PASIR PANJANG CLOSE, PASIR PANJANG COURT, 118977, SINGAPORE.
IC / PP No	:	S2745923D
Nationality	:	SINGAPOREAN
Date of Appointment	:	17/02/1990

MANAGEMENT

1)	Name of Subject	:	HIROTOSHI KADOGUCHI
	Position	:	MANAGING DIRECTOR

AUDITOR

Auditor	:	INFINITY ASSURANCE LLP
Auditor' Address	:	N/A

COMPANY SECRETARIES

1)	Company Secretary	:	TAN KIM GUAN
	IC / PP No	:	S1550820E
	Address	:	89, WEST COAST DRIVE, 07-17, HUNDRED TREES, 128016, SINGAPORE.

BANKING

No Banker found in our databank.

ENCUMBRANCE (S)

No encumbrance was found in our databank at the time of investigation.

LEGAL CHECK AGAINST SC

* A check has been conducted in our databank against the SC whether the subject has been involved in any litigation.

LEGAL ACTION
Code No	:	99	Case No	:	2899
Year	:	2006	Place	:	SINGAPORE
Court	:	DISTRICT COURT
Date Filed	:	31/07/2006
Solicitor	:	LEE CHIN SEON
Solicitor Ref	:	CS/IND-ACC/050908/158/JL
Solicitor Firm	:	C S LEE
Plaintiff	:	TEO CHUN GUAN (ZHAO JUNYUAN)
Defendants	:	WORLDWIDE UNIX (S) PTE LTD (199000745) 151 PASIR PANJANG ROAD, 03-01, PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.
Amount Claimed	:	85000
Nature of Claim	:	SGD
Remark	:	TORT-NEGLIGENCE
Code No	:	99	Case No	:	5851
Year	:	2009	Place	:	SINGAPORE
Court	:	MAGISTRATE COURT
Date Filed	:	25/02/2009
Solicitor	:	CHAN CHIN LING
Solicitor Ref	:	TLK.CCL.6575.20.08
Solicitor Firm	:	TAN LIAN KER & CO
Plaintiff	:	NG SOH CHEOW
Defendants	:	WORLDWIDE UNIX (S) PTE LTD (199000745) 151 PASIR PANJANG ROAD, 03-01, PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.
Amount Claimed	:	3588
Nature of Claim	:	SGD
Remark	:	TORT-NEGLIGENCE

NOTE:

Please check with creditors for confirmation as alleged debts may have been paid since recorded or are being disputed. The person wo has been sued has the same name as the subject. However, we are unable to determine whether the person sued is the one and the same person.

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	[		]	Average 61-90 Days	[	]
Fair 91-120 Days	[	]	Poor >120 Days	[	X	]

CLIENTELE

Local	:	YES
Domestic Markets	:	SINGAPORE
Overseas	:	YES
Export Market	:	WORLDWIDE
Credit Term	:	AS AGREED
Payment Mode	:	CHEQUES TELEGRAPHIC TRANSFER (TT)

OPERATIONS

Goods Traded

:

ELECTRONIC PRODUCTS

Total Number of Employees:
YEAR	2013	2012
GROUP	N/A	N/A
COMPANY	30	30

Branch

:

NO

Other Information:

The SC is principally engaged in the (as a / as an) trading of electronic products.

The SC is involved in the import and export of electronic components.

The SC's products are such as damper, gasket, raw material for speaker manufacturer, cone paper, solder, voice coil, paper and dale.

CURRENT INVESTIGATION

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client	:	6562722792
Current Telephone Number	:	65-62722792
Match	:	YES
Address Provided by Client	:	151 PASIR PANJANG ROAD, #03-01 PASIR PANJANG DISTRIPARK, SINGAPORE
Current Address	:	151 PASIR PANJANG ROAD, 03-01 PASIR PANJANG DISTRIPARK, 118480, SINGAPORE.
Match	:	YES

Other Investigations

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

The SC refused to disclose its bankers.

FINANCIAL ANALYSIS

Profitability
Turnover	:	Erratic	[	2010 - 2013	]
Profit/(Loss) Before Tax	:	Increased	[	2010 - 2013	]
Return on Shareholder Funds	:	Unfavourable	[	8.91%	]
Return on Net Assets	:	Favourable	[	30.57%	]
The fluctuating turnover reflects the fierce competition among the existing and new market players.The higher profit could be attributed to the increase in turnover. The unfavourable return on shareholders' funds could indicate that the SC was inefficient in utilising its assets to generate returns.
Working Capital Control
Stock Ratio	:	Favourable	[	29 Days	]
Debtor Ratio	:	Unfavourable	[	67 Days	]
Creditors Ratio	:	Unfavourable	[	68 Days	]
The SC's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The high debtors' ratio could indicate that the SC was weak in its credit control. However, the SC could also giving longer credit periods to its customers in order to boost its sales or to capture / retain its market share. 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	:	Unfavourable	[	0.74 Times	]
Current Ratio	:	Unfavourable	[	1.03 Times	]
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.
Solvency
Interest Cover	:	Unfavourable	[	1.52 Times	]
Gearing Ratio	:	Unfavourable	[	11.18 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 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.
Overall Assessment :
Although the turnover was erratic, the SC had maintained a steady growth in its profit. This indicate the management's efficiency in controlling its costs and profitability. 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 : LIMITED

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)

INDUSTRY ANALYSIS

INDUSTRY :	TRADING
The wholesale and retail trade sector contracted by 1.5% in the fourth quarter of 2012, extending the 0.2% decline in the preceding quarter. For the whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The sector was weighed down primarily by the wholesale trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4% growth in 2011. Growth of the retail trade segment also moderated to 2.0%, from 3.2% in the year 2011.
The domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an improvement from the 5.4% decline in the third quarter. This was partly due to an increase in the sales of chemicals & chemical products and ship chandlers & bunkering. For the full year of 2012, the domestic wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011. The foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase from the 6.6% growth in the third quarter. The expansion was partly due to resilient sales of petroleum & petroleum products. For the whole of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the 4.3% increase in 2011.
In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the third quarter of 2012. The sales volume of motor vehicles fell by 11% in the fourth quarter of 2012, after contracting by 6.1% in the third quarter. The sales of several discretionary items also declined in the fourth quarter. Besides, the sales of optical goods & books in 2012 fell by 3.6%, while the sales of telecommunications apparatus & computers declined by 1.4%.
For 2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods & toiletries registered the largest increase (9.3%) in sales, followed by telecommunications apparatus & computers (6.9%). By contrast, the sales of watches & jewellery (-2.2%) and optical goods & books (-3.6%) declined.
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH

CREDIT RISK EVALUATION & RECOMMENDATION

Incorporated in 1990, the SC is a Private Limited company, focusing on trading of electronic products. With over 2 decades of experience in the business, the SC has fairly rich experiences in the business and has achieved a certain market share. Strongly supported by its well-established holding company, the SC is expected to enjoy timely financial and technical support should the needs arise.

Over the years, the SC has penetrated into both the local and overseas market. The SC has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the SC to further enhance its business in the near term. Being a small company, the SC's business operation is supported by 30 employees. Overall, we regard that the SC's management capability is average. This indicates that the SC has greater potential to improve its business performance and raising income for the SC.

The SC's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. The SC has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. Due to its weak liquidity position, the SC may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the SC. The high gearing ratio clearly implied that the SC was supported by more debt than equity. Thus, the SC is exposed to high financial risk. Given a positive net worth standing at USD 1,476,102, the SC should be able to maintain its business in the near terms.

Having a strong assets backing, the SC possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises. The SC's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the SC has a good control over its resources.

The poor payment habit may affect the goodwill between the SC and its suppliers and the SC may inadvertently have to pay more for its future supplies.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the SC is expected to benefit from the favourable outlook of the industry.

Based on the above condition, we recommend credit be granted to the SC normally.

PROFIT AND LOSS ACCOUNT

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

WORLDWIDE UNIX (S) PTE LTD

Financial Year End	2013-04-30	2012-04-30	2011-04-30	2010-04-30
Months	12	12	12	12
Consolidated Account	GROUP	GROUP	GROUP	GROUP
Audited Account	YES	YES	YES	YES
Unqualified Auditor's Report (Clean Opinion)	YES	YES	YES	YES
Financial Type	FULL	FULL	FULL	FULL
Currency	USD	USD	USD	USD
TURNOVER	218,201,769	80,209,982	119,914,420	191,828,918
Other Income	432,221	145,490	191,985	392,421
	----------------	----------------	----------------	----------------
Total Turnover	218,633,990	80,355,472	120,106,405	192,221,339
	----------------	----------------	----------------	----------------
PROFIT/(LOSS) FROM OPERATIONS	177,901	45,365	530,555	781,197
	----------------	----------------	----------------	----------------
PROFIT/(LOSS) BEFORE TAXATION	177,901	45,365	530,555	781,197
Taxation	<33,530>	<23,418>	<88,461>	<158,883>
	----------------	----------------	----------------	----------------
PROFIT/(LOSS) AFTER TAXATION	144,371	21,947	442,094	622,314
	----------------	----------------	----------------	----------------
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
As previously reported	1,305,858	1,283,911	1,000,472	949,791
	----------------	----------------	----------------	----------------
As restated	1,305,858	1,283,911	1,000,472	949,791
	----------------	----------------	----------------	----------------
PROFIT AVAILABLE FOR APPROPRIATIONS	1,450,229	1,305,858	1,442,566	1,572,105
DIVIDENDS - Ordinary (paid & proposed)	-	-	<158,655>	<571,633>
	----------------	----------------	----------------	----------------
RETAINED PROFIT/(LOSS) CARRIED FORWARD	1,450,229	1,305,858	1,283,911	1,000,472
	=============	=============	=============	=============
INTEREST EXPENSE (as per notes to P&L)
Term loan / Borrowing	344,481	43,030	-	-
Others	-	-	125,150	128,462
	----------------	----------------	----------------	----------------
	344,481	43,030	125,150	128,462

BALANCE SHEET

WORLDWIDE UNIX (S) PTE LTD

ASSETS EMPLOYED:
FIXED ASSETS	51,745	46,054	42,808	61,049
LONG TERM INVESTMENTS/OTHER ASSETS
Deferred assets	26,181	23,325	20,666	17,806
Others	-	-	39,020	39,020
	----------------	----------------	----------------	----------------
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS	26,181	23,325	59,686	56,826
INTANGIBLE ASSETS
Others	39,020	39,020	-	-
	----------------	----------------	----------------	----------------
TOTAL INTANGIBLE ASSETS	39,020	39,020	-	-
	----------------	----------------	----------------	----------------
TOTAL LONG TERM ASSETS	116,946	108,399	102,494	117,875
CURRENT ASSETS
Stocks	17,444,916	14,016,247	3,257,042	16,148,581
Trade debtors	40,297,215	28,420,906	4,605,975	20,707,534
Other debtors, deposits & prepayments	213,875	167,124	259,191	560,665
Short term deposits	689,320	-	-	-
Amount due from holding company	2,200,000	-	-	-
Cash & bank balances	498,764	365,234	592,968	530,182
Others	210,942	191,409	-	-
	----------------	----------------	----------------	----------------
TOTAL CURRENT ASSETS	61,555,032	43,160,920	8,715,176	37,946,962
	----------------	----------------	----------------	----------------
TOTAL ASSET	61,671,978	43,269,319	8,817,670	38,064,837
	=============	=============	=============	=============
CURRENT LIABILITIES
Trade creditors	40,658,141	31,024,709	6,357,421	23,437,423
Other creditors & accruals	1,174,058	848,074	606,948	2,485,285
Short term borrowings/Term loans	18,119,597	9,814,617	124,190	10,179,926
Amounts owing to holding company	-	-	2,886	2,526
Provision for taxation	11,374	28,257	43,183	161,547
Dividends payable/proposed	-	-	158,655	571,633
	----------------	----------------	----------------	----------------
TOTAL CURRENT LIABILITIES	59,963,170	41,715,657	7,293,283	36,838,340
	----------------	----------------	----------------	----------------
NET CURRENT ASSETS/(LIABILITIES)	1,591,862	1,445,263	1,421,893	1,108,622
	----------------	----------------	----------------	----------------
TOTAL NET ASSETS	1,708,808	1,553,662	1,524,387	1,226,497
	=============	=============	=============	=============
SHARE CAPITAL
Ordinary share capital	167,790	167,790	167,790	167,790
	----------------	----------------	----------------	----------------
TOTAL SHARE CAPITAL	167,790	167,790	167,790	167,790
RESERVES
Capital reserve	2,454	2,454	2,454	2,454
Retained profit/(loss) carried forward	1,450,229	1,305,858	1,283,911	1,000,472
	----------------	----------------	----------------	----------------
TOTAL RESERVES	1,452,683	1,308,312	1,286,365	1,002,926
	----------------	----------------	----------------	----------------
SHAREHOLDERS' FUNDS/EQUITY	1,620,473	1,476,102	1,454,155	1,170,716
LONG TERM LIABILITIES
Deferred taxation	5,125	5,125	5,125	5,125
Retirement benefits provision	83,210	72,435	65,107	50,656
	----------------	----------------	----------------	----------------
TOTAL LONG TERM LIABILITIES	88,335	77,560	70,232	55,781
	----------------	----------------	----------------	----------------
	1,708,808	1,553,662	1,524,387	1,226,497
	=============	=============	=============	=============

FINANCIAL RATIO

WORLDWIDE UNIX (S) PTE LTD

TYPES OF FUNDS
Cash	1,188,084	365,234	592,968	530,182
Net Liquid Funds	1,188,084	365,234	592,968	530,182
Net Liquid Assets	<15,853,054>	<12,570,984>	<1,835,149>	<15,039,959>
Net Current Assets/(Liabilities)	1,591,862	1,445,263	1,421,893	1,108,622
Net Tangible Assets	1,669,788	1,514,642	1,524,387	1,226,497
Net Monetary Assets	<15,941,389>	<12,648,544>	<1,905,381>	<15,095,740>
BALANCE SHEET ITEMS
Total Borrowings	18,119,597	9,814,617	124,190	10,179,926
Total Liabilities	60,051,505	41,793,217	7,363,515	36,894,121
Total Assets	61,671,978	43,269,319	8,817,670	38,064,837
Net Assets	1,708,808	1,553,662	1,524,387	1,226,497
Net Assets Backing	1,620,473	1,476,102	1,454,155	1,170,716
Shareholders' Funds	1,620,473	1,476,102	1,454,155	1,170,716
Total Share Capital	167,790	167,790	167,790	167,790
Total Reserves	1,452,683	1,308,312	1,286,365	1,002,926
LIQUIDITY (Times)
Cash Ratio	0.02	0.01	0.08	0.01
Liquid Ratio	0.74	0.70	0.75	0.59
Current Ratio	1.03	1.03	1.19	1.03
WORKING CAPITAL CONTROL (Days)
Stock Ratio	29	64	10	31
Debtors Ratio	67	129	14	39
Creditors Ratio	68	141	19	45
SOLVENCY RATIOS (Times)
Gearing Ratio	11.18	6.65	0.09	8.70
Liabilities Ratio	37.06	28.31	5.06	31.51
Times Interest Earned Ratio	1.52	2.05	5.24	7.08
Assets Backing Ratio	9.95	9.03	9.09	7.31
PERFORMANCE RATIO (%)
Operating Profit Margin	0.08	0.06	0.44	0.41
Net Profit Margin	0.07	0.03	0.37	0.32
Return On Net Assets	30.57	5.69	43.01	74.17
Return On Capital Employed	29.89	5.55	43.01	74.17
Return On Shareholders' Funds/Equity	8.91	1.49	30.40	53.16
Dividend Pay Out Ratio (Times)	0.00	0.00	0.36	0.92

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.39
UK Pound	1	Rs.101.80
Euro	1	Rs.84.75

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.