|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
FARO SINGAPORE PTE. LTD. |
|
|
|
|
Registered Office : |
3, Changi South Street 2, 01-01, Xilin Districentre, 486548 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
02.08.2004 |
|
|
|
|
Com. Reg. No.: |
200409671-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Investment Holding & Manufacture and Repair of Measuring Devices |
|
|
|
|
No. of Employees : |
45 [2014] |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
|
REGISTRATION NO. |
: |
200409671-G |
|
COMPANY NAME |
: |
FARO SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
02/08/2004 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
3, CHANGI SOUTH STREET 2, 01-01, XILIN DISTRICENTRE, 486548,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
XILIN DISTRICENTRE BUILDING B #01-01, 3 CHANGI SOUTH STREET 2, 486548,
SINGAPORE. |
|
TEL.NO. |
: |
65-65111350 |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
KEITH STEVEN BAIR ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
INVESTMENT HOLDING & MANUFACTURE AND REPAIR OF MEASURING DEVICES |
|
ISSUED AND PAID UP CAPITAL |
: |
1.00 ORDINARY SHARE, OF A VALUE OF USD 1.00 |
|
SALES |
: |
USD 37,069,554 [2012] |
|
NET WORTH |
: |
USD 29,848,556 [2012] |
|
STAFF STRENGTH |
: |
45 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) investment
holding & manufacture and repair of measuring devices.
The immediate holding company of the Subject is FARO CAYMAN LP, a
company incorporated in CAYMAN ISLANDS.
The ultimate holding company of the Subject is FARI TECHNOLOGIES, INC.,
a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
16/04/2014 |
USD 1.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
FARO CAYMAN LP |
SCOTIABANK BUILDING, P.O. BOX 268GT, GEORGE TOWN, GRAND CAYMAN, 4TH
FLOOR, CAYMAN ISLANDS. |
T05UF0700 |
1.00 |
100.00 |
|
--------------- |
------ |
|||
|
1.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
JAPAN |
FARO JAPAN INC. |
100.00 |
31/12/2013 |
|
|
INDIA |
FARO BUSINESS TECHNOLOGIES INDIA PVT. LTD. |
99.99 |
31/12/2013 |
|
DIRECTOR 1
|
Name Of Subject |
: |
KEITH STEVEN BAIR |
|
Address |
: |
118 WAYLAND CIRCLE, LONGWOOD, FL 32779, UNITED STATES. |
|
IC / PP No |
: |
057366301 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
04/12/2006 |
DIRECTOR 2
|
Name Of Subject |
: |
JAY WALKER FREELAND |
|
Address |
: |
5195 CALMES WAY, MERRITT ISLAND, FL 32952, FLORIA, UNITED STATES. |
|
IC / PP No |
: |
210183124 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
04/12/2006 |
DIRECTOR 3
|
Name Of Subject |
: |
JOSEPH ANTHONY AREZONE |
|
Address |
: |
29, AMBER ROAD, 17-01, SEAVIEW, THE, 439942, SINGAPORE. |
|
IC / PP No |
: |
S2765552A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
11/08/2009 |
|
1) |
Name of Subject |
: |
JOSEPH ANTHONY AREZONE |
|
Position |
: |
MANAGING DIRECTOR |
|
|
2) |
Name of Subject |
: |
KEITH STEVEN BAIR |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
FOO KON TAN GRANT THORNTON LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
LAI FOON KUEN |
|
IC / PP No |
: |
S7423122E |
|
|
Address |
: |
518A, TAMPINES CENTRAL 7, 05-76, 521518, 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 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 |
: |
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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
Services |
: |
INVESTMENT HOLDING |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
45 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) investment holding
& manufacture and repair of measuring devices.
The Group designs, develop and markets software and portable computerized
measurement devices.
FARO Technologies has an innovative, performance driven, talent oriented
high-tech culture.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65111350 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
NO 3 CHANGI SOUTH ST 2 NO 01-01 XILIN DISTRI CENTRE BUILDING 486548 |
|
Current Address |
: |
XILIN DISTRICENTRE BUILDING B #01-01, 3 CHANGI SOUTH STREET 2, 486548,
SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 14th April 2014 we contacted one of the staff from the Subject and she
provided some information.
The Subject refused to disclose its fax number.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
12.94% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
36.26% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
10.87% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
12.27% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition and the Subject could be gaining the market share progressively.The
higher profit could be attributed to the increase in turnover. The Subject's
management had generated acceptable return for its shareholders using its
assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
45 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
17 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 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 |
[ |
6.48 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
7.49 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 : |
||||||
|
Generally, the Subject's performance has improved with higher 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. 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 |
||||||
|
Major Economic
Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
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 |
37,069,554 |
32,821,082 |
|
Other Income |
177,702 |
50,557 |
|
---------------- |
---------------- |
|
|
Total Turnover |
37,247,256 |
32,871,639 |
|
Costs of Goods Sold |
(25,817,742) |
(22,991,131) |
|
---------------- |
---------------- |
|
|
Gross Profit |
11,429,514 |
9,880,508 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
3,742,027 |
2,746,224 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
3,742,027 |
2,746,224 |
|
Taxation |
(497,631) |
(192,942) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
3,244,396 |
2,553,282 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
26,604,159 |
24,050,877 |
|
---------------- |
---------------- |
|
|
As restated |
26,604,159 |
24,050,877 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
29,848,555 |
26,604,159 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
29,848,555 |
26,604,159 |
|
============= |
============= |
|
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
1,022,712 |
825,638 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||
|
Subsidiary companies |
91,273 |
91,273 |
|
Deferred assets |
180,877 |
86,500 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
272,150 |
177,773 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,294,862 |
1,003,411 |
|
CURRENT ASSETS |
||
|
Stocks |
4,535,294 |
5,336,175 |
|
Trade debtors |
7,228,218 |
11,901,356 |
|
Other debtors, deposits & prepayments |
468,190 |
402,277 |
|
Short term deposits |
3,031,142 |
3,019,345 |
|
Cash & bank balances |
18,433,837 |
11,651,529 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
33,696,681 |
32,310,682 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
34,991,543 |
33,314,093 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
1,192,732 |
1,714,710 |
|
Other creditors & accruals |
432,123 |
170,900 |
|
Amounts owing to holding company |
436,126 |
1,311,715 |
|
Amounts owing to subsidiary companies |
509,903 |
1,627,470 |
|
Provision for taxation |
610,778 |
116,157 |
|
Other liabilities |
1,319,167 |
1,081,679 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
4,500,829 |
6,022,631 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
29,195,852 |
26,288,051 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
30,490,714 |
27,291,462 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
1 |
1 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1 |
1 |
|
RESERVES |
||
|
Retained profit/(loss) carried forward |
29,848,555 |
26,604,159 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
29,848,555 |
26,604,159 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
29,848,556 |
26,604,160 |
|
LONG TERM LIABILITIES |
||
|
Others |
642,158 |
687,302 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
642,158 |
687,302 |
|
---------------- |
---------------- |
|
|
30,490,714 |
27,291,462 |
|
|
============= |
============= |
|
|
TYPES OF FUNDS |
||
|
Cash |
21,464,979 |
14,670,874 |
|
Net Liquid Funds |
21,464,979 |
14,670,874 |
|
Net Liquid Assets |
24,660,558 |
20,951,876 |
|
Net Current Assets/(Liabilities) |
29,195,852 |
26,288,051 |
|
Net Tangible Assets |
30,490,714 |
27,291,462 |
|
Net Monetary Assets |
24,018,400 |
20,264,574 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
5,142,987 |
6,709,933 |
|
Total Assets |
34,991,543 |
33,314,093 |
|
Net Assets |
30,490,714 |
27,291,462 |
|
Net Assets Backing |
29,848,556 |
26,604,160 |
|
Shareholders' Funds |
29,848,556 |
26,604,160 |
|
Total Share Capital |
1 |
1 |
|
Total Reserves |
29,848,555 |
26,604,159 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
4.77 |
2.44 |
|
Liquid Ratio |
6.48 |
4.48 |
|
Current Ratio |
7.49 |
5.36 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
45 |
59 |
|
Debtors Ratio |
71 |
132 |
|
Creditors Ratio |
17 |
27 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.17 |
0.25 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
30,490,714.00 |
27,291,462.00 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
10.09 |
8.37 |
|
Net Profit Margin |
8.75 |
7.78 |
|
Return On Net Assets |
12.27 |
10.06 |
|
Return On Capital Employed |
12.27 |
10.06 |
|
Return On Shareholders' Funds/Equity |
10.87 |
9.60 |
|
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.60.23 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NNA |
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.