|
Report Date : |
26.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ACCO BRANDS |
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Formerly Known As : |
GBC ASIA PTE LTD |
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Registered Office : |
47, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.03.1990 |
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Com. Reg. No.: |
199001019-K |
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Legal Form : |
Private Limited |
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Line of Business : |
Trading of Office Machinery & Equipment |
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No. of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
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Source
: CIA |
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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 office machinery &
equipment. The major shareholder(s) of the SC are shown as follows :
+ Also Director
DIRECTOR 1
DIRECTOR 2
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1) |
Name of Subject |
: |
MOH CHIN HONG |
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Position |
: |
DIRECTOR |
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AUDITOR
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Auditor |
: |
KPMG LLP |
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Auditor' Address |
: |
N/A |
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COMPANY
SECRETARIES |
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1) |
Company Secretary |
: |
PONG SIEW INN |
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IC / PP No |
: |
S7280441D |
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Address |
: |
323, SEMBAWANG CLOSE, 09-317, 750323, SINGAPORE. |
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BANKING
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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 |
: |
YES |
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Overseas |
: |
YES |
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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 |
||||||||||||||
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Prompt 0-30 Days |
[ |
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] |
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Good 31-60 Days |
[ |
X |
] |
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Average 61-90 Days |
[ |
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] |
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Fair 91-120 Days |
[ |
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] |
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Poor >120 Days |
[ |
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] |
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CLIENTELE
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Local |
: |
YES |
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Domestic Markets |
: |
SINGAPORE |
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Overseas |
: |
YES |
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Export Market |
: |
ASIA |
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Credit Term |
: |
14 DAYS |
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Payment Mode |
: |
CHEQUES |
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Type of Customer |
: |
DEALERS |
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OPERATIONS
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Goods Traded |
: |
OFFICE AND PRINTING EQUIPMENT
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Total Number of Employees: |
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YEAR |
2013 |
2012 |
2008 |
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GROUP |
N/A |
N/A |
N/A |
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COMPANY |
35 |
50 |
36 |
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Branch |
: |
NO
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Other Information:
The SC is principally engaged in the (as a / as an) trading of office
machinery & equipment.
The SC's principal activities are the marketing of laminating films and
equipment, the distribution of binding machines and the sale of plastic
binders.
From the research done, the following information was gathered:
Background:
Acco Brands Asia Pte Ltd, formerly known as GBC Asia Pte Ltd and Ibico
Singapore Pte Ltd, is the Asia subsidiary of Acco Brands Corporation (NYSE:
ABD), a worldwide leader in branded office products and also a leader in the
professional printing market with over 40 years experience in serving the
needs of Asia's ultra diverse markets. As a global company, they continuously
invest in their premium brands and their people to deliver exceptional, high
quality, branded products across the globe for all their customer.
They are as committed as ever to providing customer with the latest and most
innovative products, including an extensive range of binding, laminating,
shredding, visual communications equipment and workspace tools.
Th SC engages in the following activities:
* wholesale of office machines and equipment (including accessories)
* GBC Asia in Singapore was inaugurated in 1998 upon the acquisition of Ibico
of Switzerland, an office equipment company known for its document binding,
laminating and calculator products. GBC Asia presently markets an extensive
range of binding, laminating, shredding and conference room products through
a network of 20 distributors under the brand names of GBC, Ibico and Quartet,
for use at work, at school and at home.
Products:
* binders
* laminators
* shredders
* conference room
* trimmers
* punches and staplers
* storage and organisation
* derwent
CURRENT INVESTIGATION
|
Latest fresh
investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-67760195 |
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Match |
: |
N/A |
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Address Provided by Client |
: |
47, AYER RAJAH CRESCENT NO. 05-08/17 SINGAPORE 139947 |
|
Current Address |
: |
47 AYER RAJAH CRESCENT, #05-08/17, 139947, SINGAPORE. |
|
Match |
: |
YES |
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Other Investigations
On 23rd October 2013, we contacted one of the staff from HR Department of SC
and she provided some information on the SC.
FINANCIAL ANALYSIS
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Profitability |
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Turnover |
: |
Increased |
[ |
2009 - 2011 |
] |
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Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2011 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
33.30% |
] |
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Return on Net Assets |
: |
Favourable |
[ |
39.58% |
] |
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|
The SC's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The dip in
profit could be due to the stiff market competition which reduced the SC's
profit margin. Generally the SC was profitable. The favourable return on
shareholders' funds and return on net assets indicate that the SC's
management was efficient in utilising the assets to generate returns. |
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Working Capital Control |
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Stock Ratio |
: |
Favourable |
[ |
53 Days |
] |
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Debtor Ratio |
: |
Unfavourable |
[ |
65 Days |
] |
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Creditors Ratio |
: |
Favourable |
[ |
38 Days |
] |
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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 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 |
[ |
1.74 Times |
] |
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Current Ratio |
: |
Favourable |
[ |
2.65 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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|
Although the SC's turnover had increased, its profits had declined
over the same corresponding period. This could be due to the stiffer market
competition and / or higher operating costs which lowered the SC's profit
margin. 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 : STRONG |
||||||
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 |
|
|
|
|
|
|
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|
Registration of New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
|
Registration of New Companies (%) |
<2.2> |
4.3 |
12.8 |
8.5 |
<1.3> |
|
Liquidation of Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
|
Liquidation of Companies (%) |
13.7 |
113.4 |
<32.5> |
25.6 |
9.4 |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
|
Registration of New Businesses (%) |
0.36 |
8.15 |
<10.78> |
2.02 |
5.51 |
|
Liquidation of Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
|
Liquidation of Businesses (%) |
<0.8> |
11.4 |
2.8 |
<5> |
<2.2> |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
|
Bankruptcy Orders (%) |
<15.9> |
<11.5> |
<25.3> |
<0.7> |
14.5 |
|
Bankruptcy Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
|
Bankruptcy Discharges (%) |
<7.7> |
103.7 |
<26.3> |
<38.2> |
35.2 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
<0.32> |
3.25 |
<0.48> |
4.25 |
3.64 |
|
Fish Supply & Wholesale |
<6.31> |
<1.93> |
<10.5> |
12.10 |
<0.5> |
|
|
|
|
|
|
|
|
Manufacturing * |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
|
Food, Beverages & Tobacco |
94.8 |
90.4 |
96.4 |
100.0 |
103.5 |
|
Textiles |
180.1 |
145.9 |
122.1 |
100.0 |
104.0 |
|
Wearing Apparel |
334.6 |
211.0 |
123.3 |
100.0 |
92.1 |
|
Leather Products & Footwear |
128.2 |
79.5 |
81.8 |
100.0 |
98.6 |
|
Wood & Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
|
Paper & Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
|
Printing & Media |
118.2 |
100.9 |
103.5 |
100.0 |
93.0 |
|
Crude Oil Refineries |
113.1 |
96.4 |
95.6 |
100.0 |
99.4 |
|
Chemical & Chemical Products |
84.5 |
80.3 |
97.6 |
100.0 |
100.5 |
|
Pharmaceutical Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
|
Rubber & Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
|
Non-metallic Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
|
Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
|
Fabricated Metal Products |
101.3 |
90.8 |
103.6 |
100.0 |
104.3 |
|
Machinery & Equipment |
65.0 |
57.3 |
78.5 |
100.0 |
112.9 |
|
Electrical Machinery |
81.7 |
86.8 |
124.1 |
100.0 |
99.3 |
|
Electronic Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
|
Transport Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
|
|
|
|
|
|
|
|
Construction |
45.90 |
<36.9> |
14.20 |
20.50 |
28.70 |
|
Real Estate |
<11.2> |
1.4 |
21.3 |
25.4 |
31.9 |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
<1.3> |
1.70 |
4.00 |
7.00 |
6.30 |
|
Transport, Storage & Communication |
11.60 |
3.90 |
12.80 |
7.40 |
5.30 |
|
Finance & Insurance |
<5.9> |
<16.4> |
<0.4> |
8.90 |
0.50 |
|
Government Services |
17.40 |
4.50 |
9.70 |
6.90 |
6.00 |
|
Education Services |
0.50 |
0.10 |
<0.9> |
<1.4> |
0.30 |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
INDUSTRY ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
The wholesale and retail trade sector contracted by 1.5% in the
fourth quarter of 2012, extending the 0.2% decline in the preceding
quarter. For the whole of 2012, the sector declined by 0.7%, reversing the
1.6% growth in 2011. The sector was weighed down primarily by the wholesale
trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a
reversal from the 1.4% growth in 2011. Growth of the retail trade segment
also moderated to 2.0%, from 3.2% in the year 2011. |
|
|
|
|
|
The domestic wholesale trade index grew by 1.2% in the fourth
quarter of 2012, an improvement from the 5.4% decline in the third quarter.
This was partly due to an increase in the sales of chemicals & chemical
products and ship chandlers & bunkering. For the full year of 2012, the
domestic wholesale trade index contracted by 2.2%, extending the 1.7%
decline in 2011. The foreign wholesale trade index grew by 8.6% in the
fourth quarter, an increase from the 6.6% growth in the third quarter. The
expansion was partly due to resilient sales of petroleum & petroleum
products. For the whole of 2012, the foreign wholesale trade index expanded
by 9.1%, faster than the 4.3% increase in 2011. |
|
|
|
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%,
extending the 0.3% decline in the third quarter. Excluding motor vehicles,
retail sales volume grew by 0.4%, a slight moderation compared to the 1.5%
gain in the third quarter of 2012. The sales volume of motor vehicles fell
by 11% in the fourth quarter of 2012, after contracting by 6.1% in the
third quarter. The sales of several discretionary items also declined in
the fourth quarter. Besides, the sales of optical goods & books in 2012
fell by 3.6%, while the sales of telecommunications apparatus &
computers declined by 1.4%. |
|
|
|
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to
the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in
retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012.
Medical goods & toiletries registered the largest increase (9.3%) in
sales, followed by telecommunications apparatus & computers (6.9%). By
contrast, the sales of watches & jewellery (-2.2%) and optical goods
& books (-3.6%) declined. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
|
|
|
PROFIT AND
LOSS ACCOUNT |
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
ACCO BRANDS
ASIA PTE. LTD. |
|
Financial Year End |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
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 |
SGD |
SGD |
SGD |
|
|
|
|
|
|
TURNOVER |
8,721,707 |
7,807,942 |
7,402,510 |
|
Other Income |
89,352 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
8,811,059 |
7,807,942 |
7,402,510 |
|
Costs of Goods Sold |
<4,804,260> |
<4,220,764> |
<3,879,160> |
|
|
---------------- |
---------------- |
---------------- |
|
Gross Profit |
4,006,799 |
3,587,178 |
3,523,350 |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
919,441 |
921,725 |
1,210,471 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
919,441 |
921,725 |
1,210,471 |
|
Taxation |
<147,249> |
<3,238> |
<182,000> |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
772,192 |
918,487 |
1,028,471 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously reported |
1,889,740 |
1,221,253 |
2,845,543 |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
1,889,740 |
1,221,253 |
2,845,543 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,661,932 |
2,139,740 |
3,874,014 |
|
TRANSFER TO RESERVES - General |
- |
- |
<731,761> |
|
DIVIDENDS - Ordinary (paid & proposed) |
<500,000> |
<250,000> |
<1,921,000> |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,161,932 |
1,889,740 |
1,221,253 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
|
Others |
- |
420 |
505 |
|
|
---------------- |
---------------- |
---------------- |
|
|
- |
420 |
505 |
|
BALANCE SHEET |
|
ACCO BRANDS
ASIA PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
|
FIXED ASSETS |
33,237 |
62,130 |
51,427 |
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
Deferred assets |
11,450 |
10,945 |
18,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
11,450 |
10,945 |
18,000 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
44,687 |
73,075 |
69,427 |
|
|
|
|
|
|
CURRENT ASSETS |
|
|
|
|
Stocks |
1,260,453 |
983,855 |
1,040,593 |
|
Trade debtors |
1,561,421 |
1,141,410 |
914,534 |
|
Other debtors, deposits & prepayments |
74,555 |
73,036 |
65,921 |
|
Cash & bank balances |
758,842 |
912,368 |
810,146 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
3,655,271 |
3,110,669 |
2,831,194 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
3,699,958 |
3,183,744 |
2,900,621 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
Trade creditors |
501,201 |
449,372 |
545,877 |
|
Other creditors & accruals |
461,061 |
400,987 |
481,139 |
|
Hire purchase & lease creditors |
2,400 |
2,400 |
2,400 |
|
Amounts owing to holding company |
- |
- |
76,132 |
|
Amounts owing to related companies |
185,582 |
84,935 |
60,465 |
|
Provision for taxation |
144,812 |
125,212 |
274,844 |
|
Other liabilities |
82,031 |
67,759 |
72,772 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1,377,087 |
1,130,665 |
1,513,629 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
2,278,184 |
1,980,004 |
1,317,565 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
2,322,871 |
2,053,079 |
1,386,992 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
Ordinary share capital |
100,000 |
100,000 |
100,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
100,000 |
|
|
|
|
|
|
RESERVES |
|
|
|
|
Capital reserve |
57,139 |
57,139 |
57,139 |
|
Retained profit/(loss) carried forward |
2,161,932 |
1,889,740 |
1,221,253 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
2,219,071 |
1,946,879 |
1,278,392 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
2,319,071 |
2,046,879 |
1,378,392 |
|
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
|
Lease obligations |
3,800 |
6,200 |
8,600 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
3,800 |
6,200 |
8,600 |
|
|
---------------- |
---------------- |
---------------- |
|
|
2,322,871 |
2,053,079 |
1,386,992 |
|
|
============= |
============= |
============= |
FINANCIAL RATIO
|
|
ACCO BRANDS
ASIA PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
|
Cash |
758,842 |
912,368 |
810,146 |
|
Net Liquid Funds |
758,842 |
912,368 |
810,146 |
|
Net Liquid Assets |
1,017,731 |
996,149 |
276,972 |
|
Net Current Assets/(Liabilities) |
2,278,184 |
1,980,004 |
1,317,565 |
|
Net Tangible Assets |
2,322,871 |
2,053,079 |
1,386,992 |
|
Net Monetary Assets |
1,013,931 |
989,949 |
268,372 |
|
BALANCE SHEET ITEMS |
|
|
|
|
Total Borrowings |
6,200 |
8,600 |
11,000 |
|
Total Liabilities |
1,380,887 |
1,136,865 |
1,522,229 |
|
Total Assets |
3,699,958 |
3,183,744 |
2,900,621 |
|
Net Assets |
2,322,871 |
2,053,079 |
1,386,992 |
|
Net Assets Backing |
2,319,071 |
2,046,879 |
1,378,392 |
|
Shareholders' Funds |
2,319,071 |
2,046,879 |
1,378,392 |
|
Total Share Capital |
100,000 |
100,000 |
100,000 |
|
Total Reserves |
2,219,071 |
1,946,879 |
1,278,392 |
|
LIQUIDITY (Times) |
|
|
|
|
Cash Ratio |
0.55 |
0.81 |
0.54 |
|
Liquid Ratio |
1.74 |
1.88 |
1.18 |
|
Current Ratio |
2.65 |
2.75 |
1.87 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
Stock Ratio |
53 |
46 |
51 |
|
Debtors Ratio |
65 |
53 |
45 |
|
Creditors Ratio |
38 |
39 |
51 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
0.01 |
|
Liabilities Ratio |
0.60 |
0.56 |
1.10 |
|
Times Interest Earned Ratio |
0.00 |
2,195.58 |
2,397.97 |
|
Assets Backing Ratio |
23.23 |
20.53 |
13.87 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
Operating Profit Margin |
10.54 |
11.80 |
16.35 |
|
Net Profit Margin |
8.85 |
11.76 |
13.89 |
|
Return On Net Assets |
39.58 |
44.92 |
87.31 |
|
Return On Capital Employed |
39.54 |
44.86 |
87.16 |
|
Return On Shareholders' Funds/Equity |
33.30 |
44.87 |
74.61 |
|
Dividend Pay Out Ratio (Times) |
0.65 |
0.27 |
1.87 |
|
NOTES TO ACCOUNTS |
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.63 |
|
|
1 |
Rs.99.94 |
|
Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an
extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses
adequate working capital. No caution needed for credit transaction. It has
above average (strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable factors will not
cause fatal effect. Satisfactory capability for payment of interest and
principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to
overcome financial difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors
are apparent. Repayment of interest and principal sums in default or expected
to be in default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit
risk exists. Caution needed to be exercised |
Credit not recommended |
|
-- |
NB |
New
Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial condition
(40%) Ownership background
(20%) Payment record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.