MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

BS TECH PTE. LTD.

 

 

Registered Office :

41, Senoko Drive, 758249

 

 

Country :

Singapore

 

 

Financials (as on) :

31.07.2011

 

 

Date of Incorporation :

04.08.2005

 

 

Com. Reg. No.:

200510697-M

 

 

Legal Form :

Exempt Private

 

 

Line of Business :

Trading of Industrial Equipment and Industrial Plant Engineering Services

 

 

No. of Employees :

40

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

Clear

NOTES:

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March, 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

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.

:

200510697-M

COMPANY NAME

:

BS TECH PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

04/08/2005

COMPANY STATUS

:

EXIST

LEGAL FORM

:

EXEMPT PRIVATE

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

41, SENOKO DRIVE, 758249, SINGAPORE.

BUSINESS ADDRESS

:

5 TUAS AVENUE 3, BS LOGISTIC HUB, 639405, SINGAPORE.

TEL.NO.

:

65-64161996

FAX.NO.

:

65-68631944

EMAIL

:

ENQUIRIES@BSGROUP.COM.SG

WEB SITE

:

WWW.BSGROUP.COM.SG

CONTACT PERSON

:

BALAKRISHNAN PADMAPATHI ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF INDUSTRIAL EQUIPMENT AND INDUSTRIAL PLANT ENGINEERING SERVICES

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00

SALES

:

SGD 2,128,228 [2011]

NET WORTH

:

SGD <45,396> [2011]

STAFF STRENGTH

:

40 [2013]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

FAIR

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

 

 

HISTORY / BACKGROUND

 

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 industrial equipment and industrial plant engineering services.

 

The major shareholder(s) of the SC are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

MRS. BALAKRISHNAN PADMAPATHI +

344 CHOA CHU KANG LOOP, 03-47, 680344, SINGAPORE.

S1424352F

35,000.00

35.00

B. SHAMALAH REDDY +

529 JURONG WEST STREET 52, 08-373, 640529, SINGAPORE.

S7734967G

35,000.00

35.00

NADEEM TAHIR +

HOUSE 244, STREET 15, ASKARI 5, GULBERG III, LAHORE, 54000, PAKISTAN.

AJ9453202

30,000.00

30.00

 

 

 

---------------

------

 

 

 

100,000.00

100.00

 

 

 

============

=====

+ Also Director



DIRECTORS


DIRECTOR 1

 

Name Of Subject

:

NADEEM TAHIR

Address

:

HOUSE 244, STREET 15, ASKARI 5, GULBERG III, LAHORE, 54000, PAKISTAN.

IC / PP No

:

AJ9453202

Nationality

:

PAKISTANI

Date of Appointment

:

10/09/2009

 

DIRECTOR 2

 

Name Of Subject

:

MRS. BALAKRISHNAN PADMAPATHI

Address

:

344 CHOA CHU KANG LOOP, 03-47, 680344, SINGAPORE.

IC / PP No

:

S1424352F

Nationality

:

SINGAPOREAN

Date of Appointment

:

04/08/2005

 

DIRECTOR 3

 

Name Of Subject

:

B. SHAMALAH REDDY

Address

:

529 JURONG WEST STREET 52, 08-373, 640529, SINGAPORE.

IC / PP No

:

S7734967G

Nationality

:

SINGAPOREAN

Date of Appointment

:

04/08/2005



MANAGEMENT

 

 

 

1)

Name of Subject

:

BALAKRISHNAN PADMAPATHI

 

Position

:

MANAGING DIRECTOR

 

 

 

AUDITOR

 

No Auditor found in our databank



COMPANY SECRETARIES

 

1)

Company Secretary

:

SEET SU MENG

 

IC / PP No

:

S1601987I

 

 

 

 

 

Address

:

417, ANG MO KIO AVENUE 10, 09-1021, 560417, 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 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

[

 

]

 

Average 61-90 Days

[

 

]

 

Fair 91-120 Days

[

X

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 



CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

 

 

 

Export Market

:

ASIA

Credit Term

:

AS AGREED

Payment Mode

:

CHEQUES

Type of Customer

:

CONSTRUCTION INDUSTRY

 

 

OPERATIONS

 

Goods Traded

:

INDUSTRIAL EQUIPMENT

 

 

 

 

Services

:

INDUSTRIAL PLANT ENGINEERING SERVICES

 

 

 

 

 

Total Number of Employees:

YEAR

2013

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

40

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The SC is principally engaged in the (as a / as an) trading of industrial equipment and industrial plant engineering services.

The SC is involve in trading industrial equipment for the construction, infrastructure, power plant, transportation, cleaning, facility management, aviation, shipping, pharmaceutical & chemical industries.


We were informed that the SC also provide rental or leasing services for advance lifting equipment trading under various brand and origin.



CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-64161996

Match

:

N/A

 

 

 

Address Provided by Client

:

41, SENOKO DRIVE SINGAPORE 758249

Current Address

:

5 TUAS AVENUE 3, BS LOGISTIC HUB, 639405, SINGAPORE.

Match

:

NO

 

 

 

 

Other Investigations


On 21st October 2013 we contacted one of the staff from the SC and he provided some information on the SC.

The address provided is belongs to the registered office.

 


FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

38.77%

]

 

Profit/(Loss) Before Tax

:

Increased

[

<139.13%>

]

 

Return on Shareholder Funds

:

Unfavourable

[

518.43%

]

 

Return on Net Assets

:

Unfavourable

[

<67.58%>

]

 

 

 

 

 

 

 

 

The increase in turnover could be due to the SC adopting an aggressive marketing strategy.Higher losses before tax during the year could be due to the higher operating costs incurred. Although the SC's returns showed positive figures it is not reflective of the true situation. The SC incurred losses during the year and its shareholders' funds have turned red. The positive returns on shareholders' funds is the result of losses divided by negative shareholders' funds. The SC's management was inefficient in utilising the assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Nil

[

0 Days

]

 

Debtor Ratio

:

Unfavourable

[

99 Days

]

 

Creditors Ratio

:

Favourable

[

20 Days

]

 

 

 

 

 

 

 

 

As the SC is a service oriented company, the SC does not need to keep stocks. The SC's debtors ratio was high. The SC should tighten its credit control and improve its collection period. 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

:

Favourable

[

1.12 Times

]

 

Current Ratio

:

Unfavourable

[

1.12 Times

]

 

 

 

 

 

 

 

 

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.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Unfavourable

[

<5.89 Times>

]

 

Gearing Ratio

:

Unfavourable

[

<11.10 Times>

]

 

 

 

 

 

 

 

 

The SC incurred losses in the year. It did not generate sufficient income to service its interest. If the situation does not improve, the SC may be vulnerable to default in servicing the interest. The SC's gearing was negative during the year as its shareholders' funds was in the red. This means the SC is running its business using borrowed money. We consider the SC as facing high financial risks.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

Although the SC's turnover increased its profits however showed a reverse trend. The losses could be due to the management's failure to maintain its competitiveness in the market. 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's interest cover was negative, indicating that it did not generate sufficient income to service its interest. If its result does not show impressive improvements or succeed obtaining short term financing or capital injection, it may not be able to service its interest and repay the loans. The SC has high financial risks. If its shareholders do not inject more capital into the company or if its business performance does not improve, its going concern may be in question.

 

 

 

 

 

 

 

Overall financial condition of the SC : POOR

 

 

 

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

 

 


Incorporated in 2005, the SC is an Exempt Private company, focusing on trading of industrial equipment and industrial plant engineering services. Having been in business for 8 years, the SC has established a remarkable clientele base for itself which has contributed to its business growth. With a weak shareholders' backing, the SC's capital position is weak. Inadequate capital may be a constraint to the SC as it limits its ability to expand its business in future. The capital standing of the SC is weak. The SC may face difficulties to expand its business compared to other large corporation. Without a strong capital, the business expansion opportunities of the SC is limited.

Our investigation revealed that the SC serves both local and overseas clients. Penetrating into the overseas countries has well diversified its business risk. However, being a loss making company indicates that the SC faces difficulties in the market. The SC is operating on a medium scale and it has approximately 40 employees in its business operations. An unfavourable return on shareholders' funds implies that the SC's management capability is weak.

Despite the higher turnover, the SC suffered pre-tax losses which reflected a highly competitive business environment. The SC has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. The SC is in good liquidity position with its current liabilities well covered by it current assets. Unfortunately, the SC has generated an unfavourable gearing ratio indicated that the SC is in high financial risk. The SC's unfavourable financial performance over the years has wiped out its shareholders' funds to a deficit of SGD 45,396. Therefore, the SC as a going concern is much dependent on its ability to generate sufficient cash flow and obtain additional financing to meet its future obligations.

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.

We regard that the SC's overall payment habit is fair. With poor financial condition, the SC may unable to pay its creditors on the given period of time.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. However, the SC does not take any advantage from this favourable condition as it is making losses in this few years. The SC should adopt more competitive strategies to retain its business position in the market.

Based on the above unfavourable condition, we regard granting credit to the SC to be quite risky. Hence, credit is not recommended.

 

 

 

PROFIT AND LOSS ACCOUNT

 

 

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

BS TECH PTE. LTD.

 

Financial Year End

2011-07-31

2010-07-31

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

SGD

SGD

 

 

 

TURNOVER

2,128,228

1,533,582

 

----------------

----------------

Total Turnover

2,128,228

1,533,582

 

----------------

----------------

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

<235,346>

<98,419>

 

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

<235,346>

<98,419>

 

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

<235,346>

<98,419>

 

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

As previously reported

89,950

188,369

 

----------------

----------------

As restated

89,950

188,369

 

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

<145,396>

89,950

 

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

<145,396>

89,950

 

=============

=============

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

Hire purchase

18,997

103

Term loan / Borrowing

15,158

-

 

----------------

----------------

 

34,155

103

 

 

 

BALANCE SHEET

 

 

BS TECH PTE. LTD.

 

ASSETS EMPLOYED:

 

 

FIXED ASSETS

206,685

21,685

 

 

 

 

----------------

----------------

TOTAL LONG TERM ASSETS

206,685

21,685

 

 

 

CURRENT ASSETS

 

 

Trade debtors

579,610

480,968

Other debtors, deposits & prepayments

23,138

25,117

Cash & bank balances

172,862

34,786

Others

80,253

-

 

----------------

----------------

TOTAL CURRENT ASSETS

855,863

540,871

 

----------------

----------------

TOTAL ASSET

1,062,548

562,556

 

=============

=============

 

 

 

CURRENT LIABILITIES

 

 

Trade creditors

114,864

85,945

Other creditors & accruals

30,541

27,534

Short term borrowings/Term loans

160,753

-

Amounts owing to director

423,348

253,146

Provision for taxation

5,546

5,546

Lease payables

29,793

435

 

----------------

----------------

TOTAL CURRENT LIABILITIES

764,845

372,606

 

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

91,018

168,265

 

----------------

----------------

TOTAL NET ASSETS

297,703

189,950

 

=============

=============

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

100,000

100,000

 

----------------

----------------

TOTAL SHARE CAPITAL

100,000

100,000

 

 

 

RESERVES

 

 

Retained profit/(loss) carried forward

<145,396>

89,950

 

----------------

----------------

TOTAL RESERVES

<145,396>

89,950

 

 

 

 

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

<45,396>

189,950

 

 

 

LONG TERM LIABILITIES

 

 

Long term loans

182,796

-

Lease obligations

160,303

-

 

----------------

----------------

TOTAL LONG TERM LIABILITIES

343,099

-

 

----------------

----------------

 

297,703

189,950

 

=============

=============

 

 

 

FINANCIAL RATIO

 

 

BS TECH PTE. LTD.

 

TYPES OF FUNDS

 

 

Cash

172,862

34,786

Net Liquid Funds

172,862

34,786

Net Liquid Assets

91,018

168,265

Net Current Assets/(Liabilities)

91,018

168,265

Net Tangible Assets

297,703

189,950

Net Monetary Assets

<252,081>

168,265

BALANCE SHEET ITEMS

 

 

Total Borrowings

503,852

0

Total Liabilities

1,107,944

372,606

Total Assets

1,062,548

562,556

Net Assets

297,703

189,950

Net Assets Backing

<45,396>

189,950

Shareholders' Funds

<45,396>

189,950

Total Share Capital

100,000

100,000

Total Reserves

<145,396>

89,950

LIQUIDITY (Times)

 

 

Cash Ratio

0.23

0.09

Liquid Ratio

1.12

1.45

Current Ratio

1.12

1.45

WORKING CAPITAL CONTROL (Days)

 

 

Stock Ratio

0

0

Debtors Ratio

99

114

Creditors Ratio

20

20

SOLVENCY RATIOS (Times)

 

 

Gearing Ratio

<11.10>

0.00

Liabilities Ratio

<24.41>

1.96

Times Interest Earned Ratio

<5.89>

<954.52>

Assets Backing Ratio

2.98

1.90

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

<11.06>

<6.42>

Net Profit Margin

<11.06>

<6.42>

Return On Net Assets

<67.58>

<51.76>

Return On Capital Employed

<67.58>

<51.76>

Return On Shareholders' Funds/Equity

518.43

<51.81>

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.61.53

UK Pound

1

Rs.99.75

Euro

1

Rs.84.75

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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