|
Report Date : |
31.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
IIA TECHNOLOGIES PTE. LTD. |
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Formerly Known As : |
THE GEMESIS COMPANY (S) PTE. LTD |
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Registered Office : |
65, Chulia Street, 38 - 02/03 Ocbc Centre, 049513, |
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Country : |
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Financials (as on) : |
31.03.2012 |
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Date of Incorporation : |
07.12.2005 |
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Com. Reg. No.: |
200516961-K |
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Legal Form : |
Private Limited |
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LINE OF BUSINESS : |
MANUFACTURE OF PIEZO-ELECTRIC DEVICES (GROWING OF DIAMONDS) |
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No. of Employees : |
165 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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)
manufacture of piezo-electric devices (growing of diamonds). The immediate and ultimate holding company of the SC is
JRD INTERNATIONAL LIMITED, a company incorporated in BAHAMAS. The major shareholder(s) of
the SC are shown as follows :
+ Also Director The SC interest in other
companies (Subsidiaries/Associates) are shown as follow :
DIRECTOR
1
DIRECTOR
2
DIRECTOR
3
DIRECTOR
4
DIRECTOR
5
DIRECTOR
6
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1)
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Name
of Subject |
: |
EMILY |
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Position |
: |
HUMAN
RESOURCE MANAGER |
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2)
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Name
of Subject |
: |
SHAMIKA |
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Position |
: |
PRODUCTION
MANAGER |
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3)
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Name
of Subject |
: |
SONIA
JATIN MEHTA |
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Position |
: |
MANAGING
DIRECTOR |
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AUDITOR
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Auditor |
: |
AT
ADLER |
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Auditor'
Address |
: |
N/A |
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COMPANY
SECRETARIES |
|
1)
|
Company
Secretary |
: |
YAP
CHING CHING JOCELYN |
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IC
/ PP No |
: |
S7048039E |
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Address |
: |
626,
UPPER THOMSON ROAD, 05 - 38, MEADOWS @ PEIRCE, 787130, SINGAPORE. |
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BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
UNITED
OVERSEAS BANK LIMITED |
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ENCUMBRANCE (S)
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Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201207434 |
04/07/2012 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
N/A |
Unsatisfied |
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C201207440 |
04/07/2012 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
N/A |
Unsatisfied |
|
C201207445 |
04/07/2012 |
N/A |
UNITED
OVERSEAS BANK LIMITED |
N/A |
Unsatisfied |
|
C201311760 |
28/08/2013 |
N/A |
BANCO
NACIONAL ULTRAMARINO S.A. |
N/A |
Unsatisfied |
LEGAL CHECK AGAINST SC
|
* A check has been conducted in our databank againt the SC whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD
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SOURCES
OF RAW MATERIALS: |
||
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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The SC refused to disclose any information about their payment record.
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 |
[ |
|
] |
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Good
31-60 Days |
[ |
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] |
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Average
61-90 Days |
[ |
|
] |
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Fair
91-120 Days |
[ |
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] |
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Poor
>120 Days |
[ |
X |
] |
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CLIENTELE
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Local |
: |
N/A |
||||
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Overseas |
: |
N/A |
||||
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Credit
Term |
: |
N/A |
||||
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Payment
Mode |
: |
N/A |
||||
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The SC refused to disclose any information about their clientele.
OPERATIONS
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Products
manufactured |
: |
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Total
Number of Employees: |
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YEAR |
2013 |
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GROUP |
N/A |
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COMPANY |
165 |
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Branch |
: |
NO
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Other Information:
The SC is principally engaged in the (as a / as an) manufacture of
piezo-electric devices (growing of diamonds).
The SC's primary business is the growth of rough diamonds. The SC able to
accelerate its research into processes that could grow these diamonds due to
their undivided attention to the Gem Quality Industry.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the SC indicated that :
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Telephone
Number Provided By Client |
: |
6565555825
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Current
Telephone Number |
: |
65-65555825 |
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Match |
: |
YES |
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Address
Provided by Client |
: |
2,
WOODLANDS SECTOR 1, #03-14, WOODLANDS SPECTRUM 1, SINGAPORE |
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Current
Address |
: |
17
TUKANG INNOVATION DRIVE, 618300, SINGAPORE. |
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Match |
: |
NO |
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Other
Investigations
The SC has shifted from the address provided.
FINANCIAL ANALYSIS
|
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Profitability |
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Turnover |
: |
Increased |
[ |
97.12% |
] |
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|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
29.31% |
] |
|
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Return
on Shareholder Funds |
: |
Unfavourable |
[ |
3.71% |
] |
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Return
on Net Assets |
: |
Unfavourable |
[ |
4.12% |
] |
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The
increase in turnover could be due to the SC adopting an aggressive
marketing strategy.The SC's management have been efficient in controlling its
operating costs. The unfavourable return on shareholders' funds could
indicate that the SC was inefficient in utilising its assets to generate
returns. |
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Working
Capital Control |
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Stock
Ratio |
: |
Unfavourable |
[ |
158
Days |
] |
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Debtor
Ratio |
: |
Unfavourable |
[ |
251
Days |
] |
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Creditors
Ratio |
: |
Unfavourable |
[ |
140
Days |
] |
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The
SC could be incurring higher holding cost. As its capital was tied up in stocks,
it could face liquidity problems. The SC's debtors ratio was high. The SC
should tighten its credit control and improve its collection period. 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. |
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Liquidity |
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Liquid
Ratio |
: |
Favourable |
[ |
1.51
Times |
] |
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Current
Ratio |
: |
Favourable |
[ |
2.06
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 |
: |
Favourable |
[ |
10.21
Times |
] |
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Gearing
Ratio |
: |
Favourable |
[ |
0.00
Times |
] |
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|
The
interest cover showed that the SC was able to service the interest. The
favourable interest cover could indicate that the SC was making enough profit
to pay for the interest accrued. 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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|
Generally,
the SC's performance has improved with higher 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. With the favourable
interest cover, the SC could be able to service all the accrued interest
without facing any difficulties. The SC was a zero gearing company, it was
solely dependant on its shareholders to provide funds to finance its business.
The SC has good chance of getting loans, if the needs arises. |
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|
Overall
financial condition of the SC : FAIR |
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SINGAPORE ECONOMIC / INDUSTRY
OUTLOOK
|
|
Major
Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
|
|
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|
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 |
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT |
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
IIA
TECHNOLOGIES PTE. LTD. |
|
Financial
Year End |
2012-03-31 |
2011-03-31 |
|
Months |
12 |
12 |
|
Consolidated
Account |
GROUP |
GROUP |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
|
|
|
|
TURNOVER |
20,860,110 |
10,582,260 |
|
Other
Income |
- |
3,654 |
|
|
---------------- |
---------------- |
|
Total
Turnover |
20,860,110 |
10,585,914 |
|
Costs
of Goods Sold |
<16,528,314> |
<7,695,471> |
|
|
---------------- |
---------------- |
|
Gross
Profit |
4,331,796 |
2,890,443 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,889,964 |
1,461,531 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,889,964 |
1,461,531 |
|
Taxation |
<13,000> |
0 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS)
AFTER TAXATION |
1,876,964 |
1,461,531 |
|
|
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As
previously reported |
<6,049,235> |
<7,510,766> |
|
|
---------------- |
---------------- |
|
As
restated |
<6,049,235> |
<7,510,766> |
|
|
---------------- |
---------------- |
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
<4,172,271> |
<6,049,235> |
|
|
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
<4,172,271> |
<6,049,235> |
|
|
============= |
============= |
|
|
|
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|
|
|
Bank
overdraft |
54 |
177 |
|
Lease
interest |
14,064 |
13,434 |
|
Term
loan / Borrowing |
190,121 |
371,518 |
|
Others |
913 |
229 |
|
|
---------------- |
---------------- |
|
|
205,152 |
385,358 |
|
BALANCE
SHEET |
|
IIA
TECHNOLOGIES PTE. LTD. |
|
ASSETS
EMPLOYED: |
|
|
|
FIXED
ASSETS |
18,614,188 |
6,627,032 |
|
|
|
|
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|
|
|
Others |
14,608,374 |
2,551,787 |
|
|
---------------- |
---------------- |
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
14,608,374 |
2,551,787 |
|
|
|
|
|
INTANGIBLE
ASSETS |
|
|
|
Patents
/ Copyrights |
94,565 |
72,717 |
|
|
---------------- |
---------------- |
|
TOTAL
INTANGIBLE ASSETS |
94,565 |
72,717 |
|
|
---------------- |
---------------- |
|
TOTAL
LONG TERM ASSETS |
33,317,127 |
9,251,536 |
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
Stocks |
9,044,417 |
1,633,202 |
|
Trade
debtors |
14,368,520 |
15,835,391 |
|
Other
debtors, deposits & prepayments |
5,989,104 |
458,478 |
|
Amount
due from related companies |
539,123 |
- |
|
Cash
& bank balances |
4,077,244 |
26,810 |
|
|
---------------- |
---------------- |
|
TOTAL
CURRENT ASSETS |
34,018,408 |
17,953,881 |
|
|
---------------- |
---------------- |
|
TOTAL
ASSET |
67,335,535 |
27,205,417 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
Trade
creditors |
6,330,207 |
363,284 |
|
Other
creditors & accruals |
4,092,775 |
1,868,481 |
|
Short
term borrowings/Term loans |
- |
8,006,666 |
|
Amounts
owing to holding company |
4,004,187 |
421,386 |
|
Amounts
owing to related companies |
1,965,669 |
5,092,679 |
|
Amounts
owing to director |
22,514 |
- |
|
Provision
for taxation |
13,000 |
- |
|
Lease
payables |
67,488 |
62,305 |
|
|
---------------- |
---------------- |
|
TOTAL
CURRENT LIABILITIES |
16,495,840 |
15,814,801 |
|
|
---------------- |
---------------- |
|
NET
CURRENT ASSETS/(LIABILITIES) |
17,522,568 |
2,139,080 |
|
|
---------------- |
---------------- |
|
TOTAL
NET ASSETS |
50,839,695 |
11,390,616 |
|
|
============= |
============= |
|
|
|
|
|
SHARE
CAPITAL |
|
|
|
Ordinary
share capital |
54,767,830 |
17,186,323 |
|
|
---------------- |
---------------- |
|
TOTAL
SHARE CAPITAL |
54,767,830 |
17,186,323 |
|
|
|
|
|
RESERVES |
|
|
|
Retained
profit/(loss) carried forward |
<4,172,271> |
<6,049,235> |
|
|
---------------- |
---------------- |
|
TOTAL
RESERVES |
<4,172,271> |
<6,049,235> |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS'
FUNDS/EQUITY |
50,595,559 |
11,137,088 |
|
|
|
|
|
LONG
TERM LIABILITIES |
|
|
|
Lease
obligations |
244,136 |
253,528 |
|
|
---------------- |
---------------- |
|
TOTAL
LONG TERM LIABILITIES |
244,136 |
253,528 |
|
|
---------------- |
---------------- |
|
|
50,839,695 |
11,390,616 |
|
|
============= |
============= |
|
FINANCIAL
RATIO |
|
IIA
TECHNOLOGIES PTE. LTD. |
|
TYPES
OF FUNDS |
|
|
|
Cash |
4,077,244 |
26,810 |
|
Net
Liquid Funds |
4,077,244 |
26,810 |
|
Net
Liquid Assets |
8,478,151 |
505,878 |
|
Net
Current Assets/(Liabilities) |
17,522,568 |
2,139,080 |
|
Net
Tangible Assets |
50,745,130 |
11,317,899 |
|
Net
Monetary Assets |
8,234,015 |
252,350 |
|
BALANCE
SHEET ITEMS |
|
|
|
Total
Borrowings |
244,136 |
8,260,194 |
|
Total
Liabilities |
16,739,976 |
16,068,329 |
|
Total
Assets |
67,335,535 |
27,205,417 |
|
Net
Assets |
50,839,695 |
11,390,616 |
|
Net
Assets Backing |
50,595,559 |
11,137,088 |
|
Shareholders'
Funds |
50,595,559 |
11,137,088 |
|
Total
Share Capital |
54,767,830 |
17,186,323 |
|
Total
Reserves |
<4,172,271> |
<6,049,235> |
|
LIQUIDITY
(Times) |
|
|
|
Cash
Ratio |
0.25 |
0.00 |
|
Liquid
Ratio |
1.51 |
1.03 |
|
Current
Ratio |
2.06 |
1.14 |
|
WORKING
CAPITAL CONTROL (Days) |
|
|
|
Stock
Ratio |
158 |
56 |
|
Debtors
Ratio |
251 |
546 |
|
Creditors
Ratio |
140 |
17 |
|
SOLVENCY
RATIOS (Times) |
|
|
|
Gearing
Ratio |
0.00 |
0.74 |
|
Liabilities
Ratio |
0.33 |
1.44 |
|
Times
Interest Earned Ratio |
10.21 |
4.79 |
|
Assets
Backing Ratio |
0.93 |
0.66 |
|
PERFORMANCE
RATIO (%) |
|
|
|
Operating
Profit Margin |
9.06 |
13.81 |
|
Net
Profit Margin |
9.00 |
13.81 |
|
Return
On Net Assets |
4.12 |
16.21 |
|
Return
On Capital Employed |
4.11 |
16.11 |
|
Return
On Shareholders' Funds/Equity |
3.71 |
13.12 |
|
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.61.49 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.84.49 |
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.