|
Report Date : |
09.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
BAOSTEEL RESOURCES SINGAPORE COMPANY PTE.
LTD. |
|
|
|
|
Registered Office : |
7, Temasek Boulevard, 27 - 01a,
Suntec Tower One, 038987 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
13.07.2012 |
|
|
|
|
Com. Reg. No.: |
201217400-C |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
· engaged in the trading of all kinds of steel and steel-related products. · supplier of high-tech and high value-added steel products, including carbon steel, stainless steel and special steel, in the series of cold rolled sheets or coils, hot rolled plates or coils, long products and tubular products which are used in industries as automobile, household appliances, oil exploration, oil and gas transmission, shipbuilding, boiler and pressure vessel, electrical equipments & food and beverage packaging, construction. |
|
|
|
|
No. of Employees |
10 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 |
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 |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
201217400-C |
|
COMPANY NAME |
: |
BAOSTEEL
RESOURCES SINGAPORE COMPANY PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
13/07/2012 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED
company |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
7, TEMASEK BOULEVARD, 27 - 01A, SUNTEC
TOWER ONE, 038987, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
7, TEMASEK BOULEVARD, 27 - 01A, SUNTEC
TOWER ONE, 038987, SINGAPORE. |
|
TEL.NO. |
: |
65-68222828 |
|
FAX.NO. |
: |
65-68222727 |
|
CONTACT PERSON |
: |
YUAN ZHENYU ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADE OF ALL KINDS OF STEEL AND
STEEL-RELATED PRODUCTS |
|
ISSUED AND PAID UP CAPITAL |
: |
30,000,000.00 ORDINARY SHARE, OF A VALUE
OF USD 30,000,000.00 |
|
SALES |
: |
USD 3,166,600 [2012] |
|
NET WORTH |
: |
USD 29,788,025 [2012] |
|
STAFF STRENGTH |
: |
10 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
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) trade of all kinds of steel and steel-related products.
The immediate holding company of the Subject is BAOSTEEL RESOURCES INTERNATIONAL COMPANY LIMITED, a company incorporated in HONG KONG.
The ultimate holding company of the Subject is BAOSTEEL GROUP CORPORATION, a company incorporated in CHINA.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
09/04/2014 |
USD 30,000,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BAOSTEEL RESOURCES INTERNATIONAL COMPANY LIMITED |
FLAT/RM 2901, 29/F, OFFICE TOWER CONVENTION PLAZA 1, HARBOUR ROAD WANCHAI, HONG KONG. |
T09UF2164 |
30,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
30,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
YUAN ZHENYU |
|
Address |
: |
ROOM 2303, 23/F, BLOCK E, KORNHILL QUARRY BAY, HONG KONG. |
|
IC / PP No |
: |
P00761118 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
13/07/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
DING SHOUHU |
|
Address |
: |
32, LORONG MYDIN, 14 - 09, ASTORIA PARK, 416826, SINGAPORE. |
|
IC / PP No |
: |
G5347224P |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
13/05/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
LI QINGYU |
|
Address |
: |
ROOM 2202, 168, XINZHA ROAD, HUANGPU DISTRICT SHANGHAI, CHINA. |
|
IC / PP No |
: |
P01120630 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
13/07/2012 |
|
1) |
Name of Subject |
: |
YUAN ZHENYU |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
ABDUL JABBAR BIN KARAM DIN |
|
IC / PP No |
: |
S6936625B |
|
|
Address |
: |
21, SIGLAP HILL, FARNKEL ESTATE, 456076, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
CHAN POH KUAN |
|
IC / PP No |
: |
S1637928Z |
|
|
Address |
: |
863, TAMPINES STREET 83, 10-484, 520863,
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 against 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.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its 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 |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
STEEL AND STEEL-RELATED PRODUCTS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
10 |
||||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trade of all kinds of
steel and steel-related products.
The Subject mainly supply high-tech and high value-added steel products,
including carbon steel, stainless steel and special steel, in the series of
cold rolled sheets or coils, hot rolled plates or coils, long products and
tubular products. They are widely used in industries as automobile, household
appliances, oil exploration, oil and gas transmission, shipbuilding, boiler and
pressure vessel, electrical equipments & food and beverage packaging,
construction.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68222828 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
7, TEMASEK BOULEVARD, 27-01 A SUNTEC TOWER
ONE, SINGAPORE 038987 |
|
Current Address |
: |
7, TEMASEK BOULEVARD, 27 - 01A, SUNTEC
TOWER ONE, 038987, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
we contacted one of the staff from the Subject and she provided some
information.
|
Profitability |
||||||
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(0.71%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(0.71%) |
] |
|
|
The Subject's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
365 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
365 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not
need to keep stocks. The Subject's debtors ratio was high. The Subject should
tighten its credit control and improve its collection period. 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 |
[ |
10.54 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
10.54 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 : |
||||||
|
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 : FAIR |
||||||
|
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 : |
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 |
|
|
Incorporated in 2012, the Subject is a
Private Limited company, focusing on trade of all kinds of steel and
steel-related products. Having been in the industry for only 2 years, the
Subject is growing fast with a paid up capital of USD 30,000,000. With a huge
paid up capital, the Subject is allowed to expand its business comfortably.
Having strong support from its holding company has enabled the Subject to
remain competitive despite the challenging business environment. 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. The
Subject's business operation is supported by 10 employees. 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 has generated an unfavourable
return on shareholders' funds indicating that the management was inefficient
in utilising its funds to generate return. The Subject however 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 USD 29,788,025, the
Subject should be able to maintain its business in the near terms. 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 normally. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
BAOSTEEL
RESOURCES SINGAPORE COMPANY PTE. LTD. |
|
Financial Year End |
2012-12-31 |
|
Months |
12 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
|
Financial Type |
FULL |
|
Currency |
USD |
|
TURNOVER |
3,166,600 |
|
Other Income |
43,436 |
|
---------------- |
|
|
Total Turnover |
3,210,036 |
|
Costs of Goods Sold |
(3,088,550) |
|
---------------- |
|
|
Gross Profit |
121,486 |
|
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(211,975) |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(211,975) |
|
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(211,975) |
|
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(211,975) |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(211,975) |
|
============= |
|
|
BAOSTEEL
RESOURCES SINGAPORE COMPANY PTE. LTD. |
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|
|
Others |
60,142 |
|
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
60,142 |
|
INTANGIBLE
ASSETS |
|
|
Others |
9,079 |
|
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
9,079 |
|
---------------- |
|
|
TOTAL LONG TERM ASSETS |
69,221 |
|
CURRENT ASSETS |
|
|
Trade debtors |
3,166,600 |
|
Other debtors, deposits & prepayments |
82,194 |
|
Short term deposits |
27,002,100 |
|
Cash & bank balances |
2,584,040 |
|
---------------- |
|
|
TOTAL CURRENT ASSETS |
32,834,934 |
|
---------------- |
|
|
TOTAL ASSET |
32,904,155 |
|
============= |
|
|
CURRENT
LIABILITIES |
|
|
Trade creditors |
3,088,550 |
|
Other creditors & accruals |
27,580 |
|
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
3,116,130 |
|
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
29,718,804 |
|
---------------- |
|
|
TOTAL NET ASSETS |
29,788,025 |
|
============= |
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
30,000,000 |
|
---------------- |
|
|
TOTAL SHARE CAPITAL |
30,000,000 |
|
RESERVES |
|
|
Retained profit/(loss) carried forward |
(211,975) |
|
---------------- |
|
|
TOTAL RESERVES |
(211,975) |
|
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
29,788,025 |
|
---------------- |
|
|
29,788,025 |
|
|
============= |
|
|
BAOSTEEL
RESOURCES SINGAPORE COMPANY PTE. LTD. |
|
TYPES OF FUNDS |
|
|
Cash |
29,586,140 |
|
Net Liquid Funds |
29,586,140 |
|
Net Liquid Assets |
29,718,804 |
|
Net Current Assets/(Liabilities) |
29,718,804 |
|
Net Tangible Assets |
29,778,946 |
|
Net Monetary Assets |
29,718,804 |
|
BALANCE SHEET
ITEMS |
|
|
Total Borrowings |
0 |
|
Total Liabilities |
3,116,130 |
|
Total Assets |
32,904,155 |
|
Net Assets |
29,788,025 |
|
Net Assets Backing |
29,788,025 |
|
Shareholders' Funds |
29,788,025 |
|
Total Share Capital |
30,000,000 |
|
Total Reserves |
(211,975) |
|
LIQUIDITY
(Times) |
|
|
Cash Ratio |
9.49 |
|
Liquid Ratio |
10.54 |
|
Current Ratio |
10.54 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
Stock Ratio |
0 |
|
Debtors Ratio |
365 |
|
Creditors Ratio |
365 |
|
SOLVENCY RATIOS
(Times) |
|
|
Gearing Ratio |
0.00 |
|
Liabilities Ratio |
0.10 |
|
Times Interest Earned Ratio |
0.00 |
|
Assets Backing Ratio |
1.00 |
|
PERFORMANCE
RATIO (%) |
|
|
Operating Profit Margin |
(6.69) |
|
Net Profit Margin |
(6.69) |
|
Return On Net Assets |
(0.71) |
|
Return On Capital Employed |
(0.71) |
|
Return On Shareholders' Funds/Equity |
(0.71) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
|
NOTES TO
ACCOUNTS |
|
|
Contingent Liabilities |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.95 |
|
UK Pound |
1 |
Rs.99.36 |
|
Euro |
1 |
Rs.82.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
Div |
|
|
|
|
Report Prepared
by : |
MNL |
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.