MIRA INFORM REPORT

 

 

Report Date :

06.04.2014

 

IDENTIFICATION DETAILS

 

Name :

FLUKE SOUTH EAST ASIA PTE LTD

 

 

Formerly Known As :

FLUKE SINGAPORE PTE. LTD. (13/12/1996)

 

 

Registered Office :

8, Marina Boulevard, 05-02, Marina Bay Financial Centre, 018981

 

 

Country :

Singapore.

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

23.03.1993

 

 

Com. Reg. No.:

199301700-M

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Manufacturing and Servicing of Measuring Devices

 

 

No. of Employees

40

 

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 – december 01, 2013

 

Country Name

Previous Rating

(30.09.2013)

Current Rating

(01.12.2013)

Singapore

A2

A2

 

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.

:

199301700-M

COMPANY NAME

:

FLUKE SOUTH EAST ASIA PTE LTD

FORMER NAME

:

FLUKE SINGAPORE PTE. LTD. (13/12/1996)

INCORPORATION DATE

:

23/03/1993

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

8, MARINA BOULEVARD, 05-02, MARINA BAY FINANCIAL CENTRE, 018981, SINGAPORE.

BUSINESS ADDRESS

:

1 CLEMENTI LOOP, #06-02/03/04, 129808, SINGAPORE.

TEL.NO.

:

65-67995575

FAX.NO.

:

65-67995577

WEB SITE

:

WWW.FLUKE.COM.SG

CONTACT PERSON

:

DEREK CHARLES STONE ( DIRECTOR )

PRINCIPAL ACTIVITY

:

MANUFACTURING AND SERVICING OF MEASURING DEVICES

ISSUED AND PAID UP CAPITAL

:

250,000.00 ORDINARY SHARE, OF A VALUE OF SGD 250,000.00

SALES

:

SGD 75,227,970 [2012]

NET WORTH

:

SGD 18,032,192 [2012]

STAFF STRENGTH

:

40 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STRONG

PAYMENT

:

PROMPT

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

GOOD

INDUSTRY OUTLOOK

:

MATURE

 

 

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) manufacturing and servicing of measuring devices.

 

The immediate holding company of the Subject is DH SINGAPORE HOLDINGS PTE. LTD., a company incorporated in SINGAPORE.

The ultimate holding company of the Subject is DANAHER CORPORATION, a company incorporated in UNITED STATES.

 

Share Capital History

Date

Issue & Paid Up Capital

20/01/2014

SGD 250,000.00

 

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

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

DH SINGAPORE HOLDINGS PTE. LTD.

6, BATTERY ROAD, 10-01, 049909, SINGAPORE.

201027096N

250,000.00

100.00

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

------

250,000.00

100.00

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

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

DEREK CHARLES STONE

Address

:

MEADOW END SKITTLE GREEN, BLEDLOW BUCKINGHAMSHIRE, HP27 9PJ, UNITED KINGDOM.

IC / PP No

:

093192794

Nationality

:

BRITISH

Date of Appointment

:

28/09/2012

 

DIRECTOR 2

 

Name Of Subject

:

FRANK TALBOT MC FADEN

Address

:

9412, CRIMSON LEAF, TERRACE POTOMAC, MD 20854, UNITED STATES.

IC / PP No

:

222321285

Nationality

:

AMERICAN

Date of Appointment

:

28/09/2010

 

DIRECTOR 3

 

Name Of Subject

:

FREDERIC BENJAMIN MICHEL

Address

:

473, ANG MO KIO AVENUE 2, HORIZON GARDENS, 567892, SINGAPORE.

IC / PP No

:

G5292936P

Nationality

:

FRENCH

Date of Appointment

:

28/09/2012



MANAGEMENT

 

 

 

1)

Name of Subject

:

DEREK CHARLES STONE

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

ERNST & YOUNG LLP

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

ANTHONY ANNE CATHARINE

IC / PP No

:

S1347717E

Address

:

8, LORONG 29, GEYLANG 07-06, 388064, 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 SUBJECT


* A check has been conducted in our databank againt the Subject 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

:

N/A

Overseas

:

N/A


The staff from the registered office refused to disclose the Subject's suppliers.

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

[

X

]

Good 31-60 Days

[

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]



CLIENTELE

 

Local

:

N/A

Overseas

:

N/A


The staff from the registered office refused to disclose the Subject's clientele.

 

 

OPERATIONS

 

Products manufactured

:

MEASURING DEVICES

 

Total Number of Employees:

YEAR

2014

GROUP

N/A

COMPANY

40

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) manufacturing and servicing of measuring devices.

The staff from the registered office refused to disclose the Subject's operation.



CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-67995575

Match

:

N/A

Address Provided by Client

:

CLEMENTI LOOP NO 06-02 / 03 /04 SINGAPORE 999999

Current Address

:

1 CLEMENTI LOOP, #06-02/03/04, 129808, SINGAPORE.

Match

:

NO

 

Other Investigations


On 2nd April 2014 we contacted one of the staff from the Registered office and she only provided limited information.

The address provided is incorrect.



FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Decreased

[

3.64%

]

Profit/(Loss) Before Tax

:

Decreased

[

42.81%

]

Return on Shareholder Funds

:

Acceptable

[

12.37%

]

Return on Net Assets

:

Acceptable

[

14.71%

]

The lower turnover could be due to the unfavourable market conditions.The Subject's profit fell sharply because of the high operating costs incurred. The Subject's management had generated acceptable return for its shareholders using its assets.

Working Capital Control

Stock Ratio

:

Favourable

[

13 Days

]

Debtor Ratio

:

Favourable

[

53 Days

]

Creditors Ratio

:

Favourable

[

0 Days

]

The Subject'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 Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Favourable

[

2.23 Times

]

Current Ratio

:

Favourable

[

2.44 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

:

Favourable

[

473.15 Times

]

Gearing Ratio

:

Favourable

[

0.22 Times

]

The interest cover showed that the Subject was able to service the interest. The favourable interest cover could indicate that the Subject was making enough profit to pay for the interest accrued. The Subject was lowly geared thus it had a low financial risk. The Subject was mainly financed by its shareholders' funds and internally generated funds. In times of economic slowdown / downturn, the Subject being a lowly geared company, will be able to compete better than those companies which are highly geared in the same industry.

Overall Assessment :

The Subject's performance deteriorated over the years with lower turnover and profit. 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. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. The Subject as a lowly geared company, will be more secured compared to those highly geared companies. It has the ability to meet all its long term obligations.

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)

(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 1993, the Subject is a Private Limited company, focusing on manufacturing and servicing of measuring devices. The Subject has been in business for over two decades. It has built up a strong clientele base and good reputation will enable the Subject to further enhance its business in the near term. The Subject is expected to enjoy a stable market shares. Having strong support from its holding company has enabled the Subject to remain competitive despite the challenging business environment.


The Subject is operating on a medium scale and it has approximately 40 employees in its business operations. 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.


The Subject's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. 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 lowly geared company, the Subject is exposed to low financial risk as it is mainly dependent on its internal funds to finance its business needs. Given a positive net worth standing at SGD 18,032,192, 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.


We regard that the Subject's overall payment habit is prompt. The Subject 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 Subject 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 Subject promptly.

 



 

 

PROFIT AND LOSS ACCOUNT

 

 

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

FLUKE SOUTH EAST 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

SGD

SGD

TURNOVER

75,227,970

78,067,731

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

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

Total Turnover

75,227,970

78,067,731

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

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

PROFIT/(LOSS) FROM OPERATIONS

2,647,814

4,630,157

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

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

PROFIT/(LOSS) BEFORE TAXATION

2,647,814

4,630,157

Taxation

(417,329)

(745,232)

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

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

PROFIT/(LOSS) AFTER TAXATION

2,230,485

3,884,925

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

15,551,707

11,666,782

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

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

As restated

15,551,707

11,666,782

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

17,782,192

15,551,707

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

17,782,192

15,551,707

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

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

INTEREST EXPENSE (as per notes to P&L)

Others

5,608

49,271

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

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

5,608

49,271

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

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

 

BALANCE SHEET

 

 

FLUKE SOUTH EAST ASIA PTE LTD

 

ASSETS EMPLOYED:

FIXED ASSETS

81,443

138,736

LONG TERM INVESTMENTS/OTHER ASSETS

Deferred assets

158,016

111,670

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

158,016

111,670

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

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

TOTAL LONG TERM ASSETS

239,459

250,406

CURRENT ASSETS

Stocks

2,600,919

1,202,304

Trade debtors

10,883,838

13,020,375

Other debtors, deposits & prepayments

1,213,208

1,116,673

Amount due from related companies

14,730,689

10,232,751

Cash & bank balances

758,528

1,548,748

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

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

TOTAL CURRENT ASSETS

30,187,182

27,120,851

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

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

TOTAL ASSET

30,426,641

27,371,257

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

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

CURRENT LIABILITIES

Other creditors & accruals

2,914,843

3,150,330

Bank overdraft

3,899,575

-

Amounts owing to related companies

3,779,197

6,401,447

Provision for taxation

706,586

896,987

Other liabilities

1,094,248

1,120,786

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

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

TOTAL CURRENT LIABILITIES

12,394,449

11,569,550

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

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

NET CURRENT ASSETS/(LIABILITIES)

17,792,733

15,551,301

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

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

TOTAL NET ASSETS

18,032,192

15,801,707

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

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

SHARE CAPITAL

Ordinary share capital

250,000

250,000

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

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

TOTAL SHARE CAPITAL

250,000

250,000

RESERVES

Retained profit/(loss) carried forward

17,782,192

15,551,707

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

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

TOTAL RESERVES

17,782,192

15,551,707

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

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

SHAREHOLDERS' FUNDS/EQUITY

18,032,192

15,801,707

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

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

18,032,192

15,801,707

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

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

 

 

FINANCIAL RATIO

 

 

FLUKE SOUTH EAST ASIA PTE LTD

 

TYPES OF FUNDS

Cash

758,528

1,548,748

Net Liquid Funds

(3,141,047)

1,548,748

Net Liquid Assets

15,191,814

14,348,997

Net Current Assets/(Liabilities)

17,792,733

15,551,301

Net Tangible Assets

18,032,192

15,801,707

Net Monetary Assets

15,191,814

14,348,997

BALANCE SHEET ITEMS

Total Borrowings

3,899,575

0

Total Liabilities

12,394,449

11,569,550

Total Assets

30,426,641

27,371,257

Net Assets

18,032,192

15,801,707

Net Assets Backing

18,032,192

15,801,707

Shareholders' Funds

18,032,192

15,801,707

Total Share Capital

250,000

250,000

Total Reserves

17,782,192

15,551,707

LIQUIDITY (Times)

Cash Ratio

0.06

0.13

Liquid Ratio

2.23

2.24

Current Ratio

2.44

2.34

WORKING CAPITAL CONTROL (Days)

Stock Ratio

13

6

Debtors Ratio

53

61

Creditors Ratio

0

0

SOLVENCY RATIOS (Times)

Gearing Ratio

0.22

0.00

Liabilities Ratio

0.69

0.73

Times Interest Earned Ratio

473.15

94.97

Assets Backing Ratio

72.13

63.21

PERFORMANCE RATIO (%)

Operating Profit Margin

3.52

5.93

Net Profit Margin

2.96

4.98

Return On Net Assets

14.71

29.61

Return On Capital Employed

12.10

29.61

Return On Shareholders' Funds/Equity

12.37

24.59

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.60.32

UK Pound

1

Rs.100.04

Euro

1

Rs.82.65

                

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.