|
Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
ULTRATECH SE ASIA PTE. LTD. |
|
|
|
|
Registered Office : |
8, Cross Street, 10-00, Pwc Building, 048424 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
18.06.2010 |
|
|
|
|
Com. Reg. No.: |
201012976-Z |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the (as a / as an) international headquarters to
perform sales, finance and accounting. |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
|
REGISTRATION NO. |
: |
201012976-Z |
|
COMPANY NAME |
: |
ULTRATECH SE ASIA PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
18/06/2010 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
8, CROSS STREET, 10-00, PWC BUILDING, 048424, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
1 KAKI BUKIT-VIEW 02-01, TECHVIEW, 415941, SINGAPORE. |
|
TEL.NO. |
: |
65-66327300 |
|
FAX.NO. |
: |
65-67440653 |
|
WEB SITE |
: |
WWW.ULTRATECH.COM |
|
CONTACT PERSON |
: |
LOOI CHEE FAI KENNETH ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
INTERNATIONAL HEADQUARTERS TO PERFORM SALES, FINANCE AND ACCOUNTING |
|
ISSUED AND PAID UP CAPITAL |
: |
300,000.00 ORDINARY SHARE, OF A VALUE OF SGD 300,000.00 |
|
SALES |
: |
USD 123,144,153 [2012] |
|
NET WORTH |
: |
USD 5,870,951 [2012] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
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) international
headquarters to perform sales, finance and accounting.
The immediate holding company of the SC is ULTRATECH TECHNOLOGY HOLDING
B.V., a company incorporated in NETHERLANDS.
The ultimate holding company of the SC is ULTRATECH 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 |
(%) |
|
ULTRATECH TECHNOLOGY HOLDING B.V. |
PRINS BERNHARDPLEIN 200, 1097 JB, AMSTERDAM, NEW ZEALAND. |
T10UF1701G |
300,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
300,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The SC interest in other companies (Subsidiaries/Associates) are shown
as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
011 |
KOREA |
ULTRATECH CH |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
011015 |
GERMANY |
ULTRATECH GMBH |
100.00 |
31/12/2012 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
LOOI CHEE FAI KENNETH |
|
Address |
: |
15, ISLAND GARDENS WALK, ISLAND GARDENS, 578738, SINGAPORE. |
|
IC / PP No |
: |
S1311205C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
09/07/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
ARTHUR WILLIAM ZAFIROPOULO |
|
Address |
: |
148, AUSTIN AVENUE ATHERTON, CALIFORNIA, 94027, UNITED STATES. |
|
IC / PP No |
: |
S2766536E |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
18/08/2010 |
|
1) |
Name of Subject |
: |
LOOI CHEE FAI KENNETH |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
ONG KOK YEONG DAVID |
|
|
IC / PP No |
: |
S7127240J |
|
|
|
|
|
|
|
Address |
: |
1F, SHELFORD ROAD, 03-43, SHELFORD, THE, 286891, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
LIM SULIN |
|
|
IC / PP No |
: |
S8326662G |
|
|
|
|
|
|
|
Address |
: |
240, JURONG EAST STREET 21, 11-362, 600240, SINGAPORE. |
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The SC refused to disclose its suppliers.
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 |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
N/A |
|
|
Overseas |
: |
N/A |
|
|
Credit Term |
: |
N/A |
|
The SC refused to disclose its clientele information.
|
Services |
: |
INTERNATIONAL HEADQUARTERS TO PERFORM SALES, FINANCE AND ACCOUNTING
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The SC is principally engaged in the (as a / as an) international headquarters
to perform sales, finance and accounting.
The staff from the SC's registered office refused to disclose its operation.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-66327300 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
1 KAKI BUKIT-VIEW 02-01, TECHVIEW SINGAPORE 4159 41 |
|
Current Address |
: |
1 KAKI BUKIT-VIEW 02-01, TECHVIEW, 415941, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
On 10th September 2013 we contacted one of the staff from the SC and she
provided some information on the SC.
The SC refused to disclose its number of employees.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
108.47% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
342.51% |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
41.71% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
41.12% |
] |
|
|
|
|
|
|
|
|
|
|
The increase in turnover could be due to the SC adopting an aggressive
marketing strategy.The higher profit could be attributed to the increase in
turnover. 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. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
18 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
83 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
112 Days |
] |
|
|
|
|
|
|
|
|
|
|
The SC's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The high debtors' ratio could
indicate that the SC was weak in its credit control. However, the SC could
also giving longer credit periods to its customers in order to boost its
sales or to capture / retain its market share. The unfavourable creditors'
ratio could be due to the SC taking advantage of the credit granted by its
suppliers. However this may affect the goodwill between the SC and its
suppliers and the SC may inadvertently have to pay more for its future
supplies. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Acceptable |
[ |
0.86 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The SC's liquid ratio was slightly low. This could indicate that the
SC's working capital was slightly deficient. The SC will have to improve its
liquidity position either by obtaining short term financing or increase its
paid up capital so that it can 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 : |
|
|
|
|
|
|
|
Generally, the SC's performance has improved with higher turnover and
profit. The SC's liquidity was at an acceptable range. If the SC is able to
obtain further short term financing, it should be able to meet all 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 : STABLE |
||||||
|
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 : |
ECONOMY |
|
|
|
|
|
|
|
According to Ministry of Trade and Industry (MTI), the Singapore
economy is expected to grow by 1.0 to 3.0% in 2013 as growth in the global
economy is likely to remain subdued despite macroeconomic conditions
stablising in recent months of 2013. |
|
|
|
|
|
However, the global economic outlook is still clouded with
uncertainties. Notably, concerns remain over the extent of the fiscal cutback
with the budget sequester in the US and potential flareup of the debt crisis
in the Eurozone. Should any of these risks materialise, Singapore's economic
growth could come in lower than expected. |
|
|
|
|
|
Although resilient domestic demand in emerging Asia will provide some
support to global demand, it will not fully mitigate the effects of an
economic slowdown in the advanced economies. Consequently, Singapore's
externally-oriented sectors such as electronics and wholesale trade will
continue to perform poorly, while the financial services sector will be
affected by heightened uncertainties in the external environment.
Nevertheless, there will be some modest support to growth from the biomedical
manufacturing cluster and tourism-related sectors. The former will likely see
increased production of active pharmaceutical ingredients and biologics while
the latter will benefit from rising visitor arrivals from the region. |
|
|
|
|
|
For the whole of 2012, Singapore's GDP growth slowed to 1.3%, from
5.2% in 2011, mainly due to weakness in the externally-oriented sectors.
Manufacturing sector growth slowed sharply from 7.8% in the year 2011 to
0.1%. The hudge decline was largely due to a rebound in the output of the
biomedical manufacturing and transport engineering clusters, which together
helped to mitigate part of the fall in output in the electronics cluster. By
contrast, the construction sector growth accelerated from 6.3% to 8.2% in
2012, due to the expansion in both public and private building activities. |
|
|
|
|
|
Growth in the services producing industries also moderated to 1.2% in
2012, compared to 4.6% in 2011. This was mainly due to the slowdown in
wholesale and retail trade, accommodation and food services as well as other services
industries. In particular, the wholesale and retail trade sector contracted
by 0.7%, compared to the 1.6% growth in year 2011. The accommodation and food
services as well as other services industries posted lower gains of 2.8% and
0.1% respectively, compared to 8.2% and 6.3% in 2011. |
|
|
|
|
|
For the whole of 2012, all sectors, except the wholesale and retail
trade, contributed to growth. Business services was the largest contributor
with 0.4 percentage-points, followed by construction with 0.3 percentage-points
and transportation and storage at 0.2 percentagepoints. Besides, growth in
total demand moderated to 2.4%, compared to 4.2% in 2011. Domestic demand was
the key contributor to total demand growth, accounting for 2.2
percentage-points, or over 90 per cent, of the increase. |
|
|
|
|
|
In 2012, total domestic demand rose by 9.7%, following the 6.5%
increase in 2011. The growth in total domestic demand was broad-based across
consumption, gross fixed capital formation (GFCF) and changes in inventories.
The total consumption expenditure in 2012 grew slightly by 0.9%, easing from
the 3.7% growth in 2011. Public consumption expenditure fell by 3.6%,
reversing the 0.5% growth in 2011. Private consumption expenditure registered
a 2.2% gain, moderating from the 4.6% increase in the preceding year. |
|
|
|
|
|
Overall, the Singapore economy is expected to grow by 1.0 to 3.0% in
2013. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
Incorporated in 2010, the SC is a Private Limited company, focusing on
international headquarters to perform sales, finance and accounting. Having
been in the industry for 3 years, the SC has started to stabilise its business
position in the market. Strongly supported by its well-established holding
company from Netherlands, the SC is expected to enjoy timely financial and
technical support should the needs arise.
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.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. Based on the higher profitability, the
SC has generated a favourable return based on its existing shareholders' funds
which indicated that the management was efficient in utilising its funds to
generate income. The SC managed to maintain an adequate liquidity level,
indicating that the SC has the ability to meet its 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 5,870,951, 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 payment habit is average. With its adequate working capital, the SC
should be able to pay its short term debts.
The industry has reached its maturity stage and only enjoying a marginal
growth. The steady growth of the country's economy will further enhance the
industry activities. Thus, the SC's future performance is very much depend on
its marketing strategies in order to retain its position in the market.
Based on the above condition, we recommend credit be granted to the SC
promptly.
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
ULTRATECH SE ASIA 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 |
123,144,153 |
59,069,548 |
|
Other Income |
413 |
- |
|
|
---------------- |
---------------- |
|
Total Turnover |
123,144,566 |
59,069,548 |
|
Costs of Goods Sold |
<111,585,301> |
<50,467,104> |
|
|
---------------- |
---------------- |
|
Gross Profit |
11,559,265 |
8,602,444 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,594,567 |
586,329 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
2,594,567 |
586,329 |
|
Taxation |
<146,051> |
<44,044> |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
2,448,516 |
542,285 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
<24,580> |
<566,865> |
|
|
---------------- |
---------------- |
|
As restated |
<24,580> |
<566,865> |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,423,936 |
<24,580> |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,423,936 |
<24,580> |
|
|
============= |
============= |
|
|
|
|
|
BALANCE SHEET |
|
ULTRATECH SE ASIA PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
3,589,092 |
3,107,187 |
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
Subsidiary companies |
2,285,721 |
- |
|
Others |
391,496 |
109,327 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
2,677,217 |
109,327 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
6,266,309 |
3,216,514 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Stocks |
6,115,586 |
3,799,609 |
|
Trade debtors |
28,081,516 |
33,728,115 |
|
Other debtors, deposits & prepayments |
720,582 |
899,775 |
|
Short term deposits |
- |
4,000,000 |
|
Amount due from holding company |
875,061 |
- |
|
Amount due from related companies |
- |
2,210,081 |
|
Cash & bank balances |
7,835,602 |
7,826,447 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
43,628,347 |
52,464,027 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
49,894,656 |
55,680,541 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
34,379,120 |
44,683,155 |
|
Amounts owing to holding company |
11,837 |
- |
|
Amounts owing to related companies |
1,109,289 |
- |
|
Provision for taxation |
147,351 |
44,044 |
|
Other liabilities |
7,937,545 |
9,957,509 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
43,585,142 |
54,684,708 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
43,205 |
<2,220,681> |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
6,309,514 |
995,833 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
233,754 |
233,754 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
233,754 |
233,754 |
|
|
|
|
|
RESERVES |
|
|
|
Capital reserve |
2,285,721 |
- |
|
Retained profit/(loss) carried forward |
2,423,936 |
<24,580> |
|
Others |
927,540 |
429,153 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
5,637,197 |
404,573 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
5,870,951 |
638,327 |
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
Others |
438,563 |
357,506 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
438,563 |
357,506 |
|
|
---------------- |
---------------- |
|
|
6,309,514 |
995,833 |
|
|
============= |
============= |
|
ULTRATECH SE ASIA PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
7,835,602 |
11,826,447 |
|
Net Liquid Funds |
7,835,602 |
11,826,447 |
|
Net Liquid Assets |
<6,072,381> |
<6,020,290> |
|
Net Current Assets/(Liabilities) |
43,205 |
<2,220,681> |
|
Net Tangible Assets |
6,309,514 |
995,833 |
|
Net Monetary Assets |
<6,510,944> |
<6,377,796> |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
44,023,705 |
55,042,214 |
|
Total Assets |
49,894,656 |
55,680,541 |
|
Net Assets |
6,309,514 |
995,833 |
|
Net Assets Backing |
5,870,951 |
638,327 |
|
Shareholders' Funds |
5,870,951 |
638,327 |
|
Total Share Capital |
233,754 |
233,754 |
|
Total Reserves |
5,637,197 |
404,573 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.18 |
0.22 |
|
Liquid Ratio |
0.86 |
0.89 |
|
Current Ratio |
1.00 |
0.96 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
18 |
23 |
|
Debtors Ratio |
83 |
208 |
|
Creditors Ratio |
112 |
323 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
7.50 |
86.23 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
26.99 |
4.26 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
2.11 |
0.99 |
|
Net Profit Margin |
1.99 |
0.92 |
|
Return On Net Assets |
41.12 |
58.88 |
|
Return On Capital Employed |
41.12 |
58.88 |
|
Return On Shareholders' Funds/Equity |
41.71 |
84.95 |
|
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.64.21 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.85.21 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.