|
Report Date : |
01.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOVUS TECHNIK PTE. LTD. |
|
|
|
|
Registered Office : |
8, Eu Tong Sen Street, 17-83, The Central, 059818 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
21.06.2005 |
|
|
|
|
Com. Reg. No.: |
200508500-Z |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trader of chillers and refrigerators |
|
|
|
|
No of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exists |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. 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 in 2011-13, 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. 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 |
EXECUTIVE
SUMMARY
|
|
|
|
REGISTRATION NO. |
: |
200508500-Z |
||||
|
COMPANY NAME |
: |
NOVUS TECHNIK
PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
21/06/2005 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
8, EU TONG SEN STREET, 17-83, THE CENTRAL,
059818, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
8, EU TONG SEN STREET, 17-83, THE CENTRAL,
NEW AGE OFFICE, 059818, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68385139 |
||||
|
FAX.NO. |
: |
65-64916501 |
||||
|
WEB SITE |
: |
WWW.NOVUS.COM.SG |
||||
|
CONTACT PERSON |
: |
ANISH DHIRAJ MEHTA ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF CHILLERS AND REFRIGERATORS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
20,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 20,000.00 |
||||
|
SALES |
: |
EUR 3,761,188 [2013] |
||||
|
NET WORTH |
: |
EUR 1,802,085 [2013] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
POOR |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject 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 Subject must have at least two directors. A
private limited company is a separate legal entity from its shareholders. As a
separate legal entity, the Subject 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 Subject is
insolvent. The Subject 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 Subject is
principally engaged in the (as a / as an) trading of chillers and
refrigerators.
The immediate
holding company of the Subject is PACE EQUIPMENT PRIVATE LIMITED, a company
incorporated in INDIA.
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
25/03/2014 |
SGD 20,000.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
DARSHAN DHIRAJ MEHTA + |
38, ORANGE GROVE ROAD, 08-06, THE ORANGE GROVE,
258364, SINGAPORE. |
S2752974G |
100.00 |
0.50 |
|
ANISH DHIRAJ MEHTA + |
8, EU TONG SEN STREET, 17-83, THE CENTRAL,
059818, SINGAPORE. |
G5808695P |
100.00 |
0.50 |
|
PACE EQUIPMENT PRIVATE LIMITED |
27R, LAXMI INDUSTRIAL ESTATE, NEW LINK ROAD,
ANDHERI WEST, MUMBAI 400053, INDIA. |
T05UF1464 |
19,800.00 |
99.00 |
|
--------------- |
------ |
|||
|
20,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
ANISH DHIRAJ MEHTA |
|
Address |
: |
8, EU TONG SEN STREET, 17-83, THE CENTRAL,
059818, SINGAPORE. |
|
IC / PP No |
: |
G5808695P |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
21/06/2005 |
DIRECTOR 2
|
Name Of Subject |
: |
DARSHAN DHIRAJ MEHTA |
|
Address |
: |
38, ORANGE GROVE ROAD, 08-06, THE ORANGE
GROVE, 258364, SINGAPORE. |
|
IC / PP No |
: |
S2752974G |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
21/06/2005 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ANISH DHIRAJ MEHTA |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
RICHARD HO & CO |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LAU CHEE FOON |
|
IC / PP No |
: |
S0084379B |
|
|
Address |
: |
519, BEDOK NORTH AVENUE 1, 07-386, 460519,
SINGAPORE. |
|
BANKING
|
Banking
relations are maintained principally with :
|
1) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C201005376 |
28/06/2010 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201109939 |
11/08/2011 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
LEGAL
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
LEGAL
ACTION
|
|
|||||||||||||
|
Code No |
: |
99 |
Case No |
: |
3215 |
||||||||
|
Year |
: |
2011 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
DISTRICT COURT |
|||||||||||
|
Date Filed |
: |
28/10/2011 |
|||||||||||
|
Solicitor Ref |
: |
CDLJ/9602/2011 |
|||||||||||
|
Solicitor Firm |
: |
MURTHY & CO |
|||||||||||
|
Plaintiff |
: |
PROJECTS 2000 PTE LTD |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Amount Claimed |
: |
41823.24 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
OTHERS/MISCELLANEOUS |
|||||||||||
|
No winding up petition was found in our
databank |
|||||||||||||
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
CHILLERS AND REFRIGERATORS |
|
|
Branch |
: |
NO |
Their Information:
The Subject is principally engaged in the (as a / as an) trading of chillers
and refrigerators.
The subject's products & services are as follows:
• Compressed air products
• Chillers for industrial and marine refrigeration
• Refrigeration spares, service and miscellaneous projects
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68385139 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
#17-83, OFFICE 2@THE CENTRAL 8E TONG SENG
STREET, SINGAPORE 059818 |
|
Current Address |
: |
8, EU TONG SEN STREET, 17-83, THE CENTRAL,
NEW AGE OFFICE, 059818, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its number of employees.
The address provided does not belong to the Subject.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
12.50% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
0.29% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
14.11% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.66% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition and the Subject could be gaining the market share progressively.
The dip in profit could be due to the stiff market competition which reduced
the Subject's profit margin. The Subject's management had generated
acceptable return for its shareholders using its assets. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
174 Days |
] |
|
|
The Subject'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 Subject was weak in its credit control. However, the
Subject 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 Subject taking advantage of the credit
granted by its suppliers. However this may affect the goodwill between the
Subject and its suppliers and the Subject may inadvertently have to pay more
for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
2.72 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.72 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject 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 Subject's interest cover was nil as it did not pay any interest
during the year. The Subject had no gearing and hence it had virtually no
financial risk. The Subject was financed by its shareholders' funds and
internally generated fund. During the economic downturn, the Subject, having
a zero gearing, will be able to compete better than those which are highly
geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although the Subject'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
Subject's profit margin. The Subject was in good liquidity position with its
total current liabilities well covered by its total current assets. With its
current net assets, the Subject should be able to repay its short term
obligations. The Subject did not make any interest payment during the year. The
Subject was dependent on its shareholders' funds to finance its business
needs. The Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises. |
||||||
|
Overall
financial condition of the Subject : 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) |
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
|
|
|
|
Over the years, the Subject has penetrated
into both the local and overseas market. The Subject has positioned itself in
the global market and is competing in the industry. Its stable clientele base
will enable the Subject to further enhance its business in the near term.
Overall, we regard that the Subject's management capability is average. This
indicates that the Subject has greater potential to improve its business
performance and raising income for the Subject. Financially, the Subject registered a
higher turnover compared to previous year. However, its profits showed a
reverse trend. The lower profit achieved was a result of higher operating
cost and increased competition. Return on shareholders' funds of the Subject
was at an acceptable range which indicated that the management was efficient
in utilising its funds to generate income. The Subject 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 Subject 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 EUR 1,802,085, the Subject
should be able to maintain its business in the near terms. Having a strong assets backing, the
Subject possesses latent assets as collateral for further financial
extension. Hence, it has good chance of getting loans if the needs arises.
The Subject'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
Subject has a good control over its resources. The poor payment habit may affect the
goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. The industry shows an upward trend and
this trend is very likely to sustain in the near terms. Hence, the Subject is
expected to benefit from the favourable outlook of the industry. Based on the above condition, we recommend
credit be granted to the Subject promptly. |
|
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
NOVUS TECHNIK
PTE. LTD. |
|
Financial Year End |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
EUR |
EUR |
|
TURNOVER |
3,761,188 |
3,343,293 |
|
Other Income |
189,549 |
38,584 |
|
---------------- |
---------------- |
|
|
Total Turnover |
3,950,737 |
3,381,877 |
|
Costs of Goods Sold |
(2,119,547) |
(1,748,324) |
|
---------------- |
---------------- |
|
|
Gross Profit |
1,831,190 |
1,633,553 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
264,516 |
265,283 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
264,516 |
265,283 |
|
Taxation |
(10,219) |
(27,586) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
254,297 |
237,697 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
1,584,819 |
1,391,813 |
|
---------------- |
---------------- |
|
|
As restated |
1,584,819 |
1,391,813 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,839,116 |
1,629,510 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(47,194) |
(44,691) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,791,922 |
1,584,819 |
|
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
||
|
Bank overdraft |
- |
13 |
|
---------------- |
---------------- |
|
|
- |
13 |
|
|
============= |
============= |
BALANCE
SHEET
|
|
|
|
NOVUS TECHNIK
PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
12,061 |
57,445 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
12,061 |
57,445 |
|
CURRENT ASSETS |
||
|
Stocks |
5,540 |
- |
|
Trade debtors |
727,181 |
90,546 |
|
Other debtors, deposits & prepayments |
43,924 |
31,999 |
|
Cash & bank balances |
1,519,324 |
1,657,704 |
|
Others |
538,377 |
678,876 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
2,834,346 |
2,459,125 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
2,846,407 |
2,516,570 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade creditors |
1,008,232 |
893,844 |
|
Amounts owing to related companies |
380 |
848 |
|
Amounts owing to director |
49 |
- |
|
Provision for taxation |
33,232 |
24,193 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,041,893 |
918,885 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,792,453 |
1,540,240 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,804,514 |
1,597,685 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
10,163 |
10,163 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
10,163 |
10,163 |
|
RESERVES |
||
|
Retained profit/(loss) carried forward |
1,791,922 |
1,584,819 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,791,922 |
1,584,819 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,802,085 |
1,594,982 |
|
LONG TERM
LIABILITIES |
||
|
Deferred taxation |
2,429 |
2,703 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
2,429 |
2,703 |
|
---------------- |
---------------- |
|
|
1,804,514 |
1,597,685 |
|
|
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
NOVUS TECHNIK
PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
1,519,324 |
1,657,704 |
|
Net Liquid Funds |
1,519,324 |
1,657,704 |
|
Net Liquid Assets |
1,786,913 |
1,540,240 |
|
Net Current Assets/(Liabilities) |
1,792,453 |
1,540,240 |
|
Net Tangible Assets |
1,804,514 |
1,597,685 |
|
Net Monetary Assets |
1,784,484 |
1,537,537 |
|
BALANCE SHEET
ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
1,044,322 |
921,588 |
|
Total Assets |
2,846,407 |
2,516,570 |
|
Net Assets |
1,804,514 |
1,597,685 |
|
Net Assets Backing |
1,802,085 |
1,594,982 |
|
Shareholders' Funds |
1,802,085 |
1,594,982 |
|
Total Share Capital |
10,163 |
10,163 |
|
Total Reserves |
1,791,922 |
1,584,819 |
|
LIQUIDITY
(Times) |
||
|
Cash Ratio |
1.46 |
1.80 |
|
Liquid Ratio |
2.72 |
2.68 |
|
Current Ratio |
2.72 |
2.68 |
|
WORKING CAPITAL
CONTROL (Days) |
||
|
Stock Ratio |
1 |
0 |
|
Debtors Ratio |
71 |
10 |
|
Creditors Ratio |
174 |
187 |
|
SOLVENCY RATIOS
(Times) |
||
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.58 |
0.58 |
|
Times Interest Earned Ratio |
0.00 |
20,407.38 |
|
Assets Backing Ratio |
177.56 |
157.21 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating Profit Margin |
7.03 |
7.93 |
|
Net Profit Margin |
6.76 |
7.11 |
|
Return On Net Assets |
14.66 |
16.61 |
|
Return On Capital Employed |
14.66 |
16.61 |
|
Return On Shareholders' Funds/Equity |
14.11 |
14.90 |
|
Dividend Pay Out Ratio (Times) |
0.19 |
0.19 |
|
NOTES TO
ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.09 |
|
|
1 |
Rs. 99.84 |
|
Euro |
1 |
Rs. 82.57 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.