MIRA INFORM REPORT

 

 

Report Date :

26.10.2013

 

IDENTIFICATION DETAILS

 

Name :

EUTECH INSTRUMENTS PTE LTD

 

 

Registered Office :

55, Ayer Rajah Crescent, 04 - 16, 139949

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

19.09.1996

 

 

Com. Reg. No.:

199606802-C

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Manufacture and repair of measuring devices (eg meters)

 

 

No. of Employees :

100

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

Payment Behaviour :

Regular

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.

:

199606802-C

COMPANY NAME

:

EUTECH INSTRUMENTS PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

19/09/1996

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

55, AYER RAJAH CRESCENT, 04 - 16, 139949, SINGAPORE.

BUSINESS ADDRESS

:

BLK 55, AYER RAJAH CRESCENT, #04-16/24, 139949, SINGAPORE.

TEL.NO.

:

65-67786876

FAX.NO.

:

65-67780086

WEB SITE

:

WWW.EUTECHINST.COM

CONTACT PERSON

:

KELLY ( STAFF )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

MANUFACTURE AND REPAIR OF MEASURING DEVICES (EG METERS)

 

 

 

ISSUED AND PAID UP CAPITAL

:

2,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD 2,060,000.00

 

 

 

SALES

:

USD 24,575,042 [2012]

NET WORTH

:

USD 57,154,905 [2012]

 

 

 

STAFF STRENGTH

:

100 [2013]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STRONG

PAYMENT

:

PROMPT

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

GOOD

INDUSTRY OUTLOOK

:

MATURE

 

 

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) manufacture and repair of measuring devices (eg meters).

 

The immediate holding company of the SC is COLE-PARMER INSTRUMENT COMPANY, a company incorporated in UNITED STATES.

The ultimate holding company of the SC is THERMO FISHER SCIENTIFIC INC, a company incorporated in UNITED STATES.

 

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

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

COLE-PARMER INSTRUMENT COMPANY

625, BUNKER COURT VERNON HILLS, ILLINOIS, 60015, UNITED STATES.

T03UF0346

2,000,000.00

100.00

 

 

 

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

------

 

 

 

2,000,000.00

100.00

 

 

 

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

=====

+ Also Director

 

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

 

Local No

Country

Company

(%)

As At

011032

NETHERLANDS

EUTECH INSTRUMENTS EUROPE B.V.

100.00

31/12/2012

 

 

 

 

 

514191T

MALAYSIA

EUTECH INSTRUMENTS SDN. BHD.

100.00

31/12/2012

 

 

 

 

 



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MR. PETRUS THOMAS ADRAINUS VAN DER ZANDE

Address

:

NW MOLENWG 43, 4661 SH, HALSTERN, NETHERLANDS.

IC / PP No

:

NH7122729

 

 

 

 

 

 

 

 

 

Nationality

:

DUTCH

Date of Appointment

:

15/03/2007

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

PANG SZE HANN @ FENG SHIHAN

Address

:

17, JALAN LIMBOK, NANYANG PARK, 548704, SINGAPORE.

IC / PP No

:

S7441555E

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

30/03/2013

 

 

 

 

 

 

 

 

 

 

 

 



MANAGEMENT

 

 

 

1)

Name of Subject

:

KELLY

 

Position

:

STAFF

 

 

 

 

 

2)

Name of Subject

:

PETRUS THOMAS ADRAINUS VAN DER ZANDE

 

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

PRICEWATER HOUSECOOPERS LLP

Auditor' Address

:

N/A

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

FOH FUE CHING

 

IC / PP No

:

S7288067F

 

 

 

 

 

Address

:

101, SPOTTISWOODE PARK ROAD, 16-88, SPOTTISWOODE PARK, 080101, 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

[

X

]

 

Good 31-60 Days

[

 

]

 

Average 61-90 Days

[

 

]

 

Fair 91-120 Days

[

 

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 



CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

 

 

 

Export Market

:

WORLDWIDE

Credit Term

:

N/A

 

 

 

 

 

 

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Products manufactured

:

MEASURING DEVICES (EG METERS)

 

 

 

 

Total Number of Employees:

YEAR

2013

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

100

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

Other Information:


The SC is principally engaged in the (as a / as an) manufacture and repair of measuring devices (eg meters).

Dedicated to the design and manufacture of sensor-based instruments for water quality analysis, Eutech is a pioneer in the development of ASIC-based (Application Specific Integrated Circuit) instruments, and is internationally recognised for its achievements in sensor technology, software programming and product design.

Eutech has an extensive product line, which includes the world's first Windows® CE-driven colour touchscreen research-grade bench meter.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the SC indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-67786876

Match

:

N/A

 

 

 

Address Provided by Client

:

55-55 AYER RAJAH QESCENT 04 16/24 SINGAPORE 139949

Current Address

:

BLK 55, AYER RAJAH CRESCENT, #04-16/24, 139949, SINGAPORE.

Match

:

NO

 

 

 

 

Other Investigations


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

The address provided is incorrect.

 

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Decreased

[

1.67%

]

 

Profit/(Loss) Before Tax

:

Decreased

[

37.67%

]

 

Return on Shareholder Funds

:

Unfavourable

[

7.11%

]

 

Return on Net Assets

:

Unfavourable

[

7.17%

]

 

 

 

 

 

 

 

 

The lower turnover could be due to the unfavourable market conditions.The SC's profit fell sharply because of the high operating costs incurred. 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

[

37 Days

]

 

Debtor Ratio

:

Favourable

[

41 Days

]

 

Creditors Ratio

:

Favourable

[

29 Days

]

 

 

 

 

 

 

 

 

The SC's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in 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.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Favourable

[

13.72 Times

]

 

Current Ratio

:

Favourable

[

14.33 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

:

Nil

[

0.00 Times

]

 

Gearing Ratio

:

Favourable

[

0.00 Times

]

 

 

 

 

 

 

 

 

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

The SC's performance deteriorated over the years with lower turnover and profit. 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.

 

 

 

 

 

 

 

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

 

 

 

 

 

 

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 :

MANUFACTURING

 

 

 

The manufacturing sector contracted by 1.1% in the fourth quarter of 2012, led by declines in the electronics and precision engineering clusters. These clusters were weighed down by weak global demand for semiconductors and semiconductor-related equipment. For the whole year of 2012, the manufacturing sector grew by 0.1%, significantly lower than the 7.8% recorded in 2011 when the sector was boosted by a surge in the growth of the biomedical manufacturing cluster.

 

Output of the biomedical manufacturing cluster grew by 2.4% in the fourth quarter. The expansion was driven by the medical technology segment which grew by a healthy 9.2%, benefitting from robust export demand for medical devices. The pharmaceuticals segment also grew by a modest 1.1%. For 2012, the biomedical manufacturing cluster expanded by 9.9%.

 

Output of the transport engineering cluster expanded by 4.9% in the fourth quarter. The aerospace segment grew by 6.2%, supported by higher demand for repair jobs from commercial airlines. Similarly, the marine & offshore engineering segment expanded by 5.0%, on the back of higher contributions from oil rig projects and oilfield equipment components. In the year 2012, the transport engineering cluster surged by 11%.

 

The output of the precision engineering cluster shrank by 1.3% in the fourth quarter. The decline was led by the 5.3% contraction in the machinery & systems segment, which saw weak export demand for semiconductor-related equipment. On the other hand, the precision modules & components segment grew by 2.9%, supported by higher production of optical instruments & photographic equipment and electronic connectors. In 2012, the precision engineering cluster expanded by 1.3%.

 

The general manufacturing cluster's output grew by 1.2% in the fourth quarter, driven by the 6.4% growth in the miscellaneous industries segment. The segment's growth was supported by higher production of batteries and constructionrelated materials. By contrast, the printing and food, beverages & tobacco segments declined by 6.4% and 1.3% respectively. For 2012, the general manufacturing cluster grew by 2.0%.

 

The chemicals cluster's output grew by 7.7% in the fourth quarter. The petrochemicals and petroleum segments registered growth of 9.3% and 6.3% respectively, partly due to the low base from plant shutdowns in end of 2011. The specialty chemicals segment also expanded by 8.0% on the back of higher regional demand. For the year 2012, the chemicals cluster declined by 0.4%, primarily due to weak regional demand for specialty chemicals in the second and third quarter of 2012.

 

Output of the electronics cluster contracted by 10% in the fourth quarter, led by the semiconductors and computer peripherals segments which contracted by 13% and 15% respectively. By contrast, the data storage segment grew by 7.8%, mainly due to the low base in end of 2011 when floods in Thailand had disrupted the supply chain for data storage products. For the whole of 2012, the electronics cluster contracted by 11%.

 

 

OVERALL INDUSTRY OUTLOOK : MATURE



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 1996, the SC is a Private Limited company, focusing on manufacture and repair of measuring devices (eg meters). With its long establishment in the market, the SC has received strong support from its stable customers base. Its business position in the market is quite stable and it is expected to enjoy better market shares over its rivals. Having strong support from its holding company has enabled the SC to remain competitive despite the challenging business environment. The capital standing of the SC is fair. With an adequate share capital, the SC has the potential of expanding its business in future.

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 moderate size company, the SC has a total workforce of 100 employees in its business operations. 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. Fortunately, the SC is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the SC virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 57,154,905, 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.

We regard that the SC's overall payment habit is prompt. The SC had a favourable creditors' ratio as evidenced by its favourable collection days.

The industry has reached its optimum level and is generally stable. It is saturated and very competitive. As the SC is long presence in the market, it should have acquired competitive edge against other players in the same fields.

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

 



PROFIT AND LOSS ACCOUNT

 

 

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

EUTECH INSTRUMENTS PTE LTD

 

Financial Year End

2012-12-31

2011-12-31

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

USD

USD

 

 

 

TURNOVER

24,575,042

24,992,042

Other Income

277,199

208,572

 

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

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

Total Turnover

24,852,241

25,200,614

 

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

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

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

4,132,580

6,630,263

 

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

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

PROFIT/(LOSS) BEFORE TAXATION

4,132,580

6,630,263

Taxation

<70,152>

<1,094,125>

 

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

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

PROFIT/(LOSS) AFTER TAXATION

4,062,428

5,536,138

 

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

As previously reported

48,708,206

43,172,068

 

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

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

As restated

48,708,206

43,172,068

 

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

52,770,634

48,708,206

 

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

52,770,634

48,708,206

 

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

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

 

 

 

 

 

 

BALANCE SHEET

 

 

EUTECH INSTRUMENTS PTE LTD

 

ASSETS EMPLOYED:

 

 

FIXED ASSETS

732,991

742,897

 

 

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

 

Subsidiary companies

827,797

827,797

 

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

827,797

827,797

 

 

 

INTANGIBLE ASSETS

 

 

Others

1,840,643

2,008,754

 

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

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

TOTAL INTANGIBLE ASSETS

1,840,643

2,008,754

 

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

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

TOTAL LONG TERM ASSETS

3,401,431

3,579,448

 

 

 

CURRENT ASSETS

 

 

Stocks

2,473,348

2,994,283

Trade debtors

2,788,870

2,859,846

Other debtors, deposits & prepayments

152,481

380,285

Amount due from related companies

33,606

33,606

Cash & bank balances

52,829,627

48,072,117

 

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

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

TOTAL CURRENT ASSETS

58,277,932

54,340,137

 

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

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

TOTAL ASSET

61,679,363

57,919,585

 

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

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

 

 

 

CURRENT LIABILITIES

 

 

Trade creditors

1,966,307

2,063,218

Other creditors & accruals

839,391

854,742

Amounts owing to holding company

126,747

127,684

Amounts owing to related companies

502,619

221,648

Provision for taxation

480,839

1,113,105

Other liabilities

152,325

-

 

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

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

TOTAL CURRENT LIABILITIES

4,068,228

4,380,397

 

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

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

NET CURRENT ASSETS/(LIABILITIES)

54,209,704

49,959,740

 

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

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

TOTAL NET ASSETS

57,611,135

53,539,188

 

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

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

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

1,419,180

1,419,180

 

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

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

TOTAL SHARE CAPITAL

1,419,180

1,419,180

 

 

 

RESERVES

 

 

Retained profit/(loss) carried forward

52,770,634

48,708,206

Employee share option reserve

2,965,091

2,873,648

 

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

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

TOTAL RESERVES

55,735,725

51,581,854

 

 

 

 

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

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

SHAREHOLDERS' FUNDS/EQUITY

57,154,905

53,001,034

 

 

 

LONG TERM LIABILITIES

 

 

Deferred taxation

314,438

252,587

Others

141,792

285,567

 

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

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

TOTAL LONG TERM LIABILITIES

456,230

538,154

 

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

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

 

57,611,135

53,539,188

 

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

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

 

 

 

FINANCIAL RATIO

 

 

EUTECH INSTRUMENTS PTE LTD

 

TYPES OF FUNDS

 

 

Cash

52,829,627

48,072,117

Net Liquid Funds

52,829,627

48,072,117

Net Liquid Assets

51,736,356

46,965,457

Net Current Assets/(Liabilities)

54,209,704

49,959,740

Net Tangible Assets

55,770,492

51,530,434

Net Monetary Assets

51,280,126

46,427,303

BALANCE SHEET ITEMS

 

 

Total Borrowings

0

0

Total Liabilities

4,524,458

4,918,551

Total Assets

61,679,363

57,919,585

Net Assets

57,611,135

53,539,188

Net Assets Backing

57,154,905

53,001,034

Shareholders' Funds

57,154,905

53,001,034

Total Share Capital

1,419,180

1,419,180

Total Reserves

55,735,725

51,581,854

LIQUIDITY (Times)

 

 

Cash Ratio

12.99

10.97

Liquid Ratio

13.72

11.72

Current Ratio

14.33

12.41

WORKING CAPITAL CONTROL (Days)

 

 

Stock Ratio

37

44

Debtors Ratio

41

42

Creditors Ratio

29

30

SOLVENCY RATIOS (Times)

 

 

Gearing Ratio

0.00

0.00

Liabilities Ratio

0.08

0.09

Times Interest Earned Ratio

0.00

0.00

Assets Backing Ratio

39.30

36.31

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

16.82

26.53

Net Profit Margin

16.53

22.15

Return On Net Assets

7.17

12.38

Return On Capital Employed

6.95

11.94

Return On Shareholders' Funds/Equity

7.11

10.45

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.61.63

UK Pound

1

Rs.99.94

Euro

1

Rs.85.14

 

 

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%)

 

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.