|
Report Date : |
05.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ZWICK ASIA PTE LTD |
|
|
|
|
Registered Office : |
25, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
10.12.1997 |
|
|
|
|
Com. Reg. No.: |
199708348-C |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Suppliers of Suppliers of Materials And Component Testing Systems |
|
|
|
|
No. of Employees |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 0.6% in 2009 as a result of the global
financial crisis, but rebounded 15.1% 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. |
: |
199708348-C |
|
COMPANY NAME |
: |
ZWICK ASIA PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
10/12/1997 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
25, INTERNATIONAL BUSINESS PARK, 04-17, GERMAN CENTRE, 609916,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
25 INTERNATIONAL BUSINESS PARK #04-17 GERMAN CENTRE,, 609916,
SINGAPORE. |
|
TEL.NO. |
: |
65-68995010 |
|
FAX.NO. |
: |
65-68995014 |
|
WEB SITE |
: |
WWW.ZWICK.COM.SG |
|
CONTACT PERSON |
: |
WIESE CHRISTIAN THOMAS ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
SUPPLIERS OF SUPPLIERS OF MATERIALS AND COMPONENT TESTING SYSTEMS |
|
ISSUED AND PAID UP CAPITAL |
: |
200,000.00 ORDINARY SHARE, OF A VALUE OF SGD 200,000.00 |
|
SALES |
: |
SGD 14,979,537 [2013] |
|
NET WORTH |
: |
SGD 1,898,428 [2013] |
|
STAFF STRENGTH |
: |
n/a [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
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) suppliers of
suppliers of materials and component testing systems.
The immediate holding company of the Subject is ZWICK ROELL AG, a
company incorporated in GERMANY.
The ultimate holding company of the Subject is ROELL PRUFSYSTEME GMBH.,
a company incorporated in GERMANY.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
04/08/2014 |
SGD 200,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
ZWICK ROELL AG |
AUGUST NAGEL STRASSE, 11, D-89079, ULM, GERMANY. |
T07UF0411C |
200,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
200,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
011 |
KOREA |
ZWICK ROELL KOREA SERVICE LLC |
70.00 |
31/12/2013 |
|
|
|
|
|
|
|
|
INDIA |
ZWICK ROELL TESTING MACHINES PVT LTD |
60.00 |
31/12/2013 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
CHUNG FUN CHOO |
|
Address |
: |
16A, JERVOIS LANE, 01-02, CLYDESVIEW, 159192, SINGAPORE. |
|
IC / PP No |
: |
S0043096Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
30/05/2008 |
DIRECTOR 2
|
Name Of Subject |
: |
DR JAN STEFAN ROELL |
|
Address |
: |
EHRENSTEINER FELD, 6, 89075, ULM, GERMANY. |
|
IC / PP No |
: |
702011022 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
12/01/1998 |
DIRECTOR 3
|
Name Of Subject |
: |
WIESE CHRISTIAN THOMAS |
|
Address |
: |
60, SWISS VIEW, 04-04, LA SUISSE I, 288062, SINGAPORE. |
|
IC / PP No |
: |
G6236146N |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
01/01/2009 |
|
1) |
Name of Subject |
: |
WIESE CHRISTIAN THOMAS |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
R CHAN & ASSOCIATES PAC |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
SONG KWONG YUEN |
|
|
IC / PP No |
: |
S0017138G |
|
|
Address |
: |
6, HOUGANG STREET 92, 05-05, REGENTVILLE, 538685, SINGAPORE. |
No Banker found in our databank.
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201116318 |
28/12/2011 |
N/A |
LANDESBANK BADEN-WURTTEMBERG |
- |
|
* 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 |
[ |
|
] |
|
Good 31-60 Days |
[ |
X |
] |
|
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 |
|||
|
Goods Traded |
: |
MATERIALS AND COMPONENT TESTING SYSTEMS
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
COMPANY |
n/a |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) suppliers of suppliers
of materials and component testing systems.
Testing machines and systems are as follows:
Static materials testing machines
Multiaxial Materials Testing Machines
Dynamic and Fatigue Testing Machines
Robotic Testing Systems
Impact testing machines
Melt Index and HDT/Vicat Testing Instruments
Hardness Testing Machines and Instruments
Modernizations
Used test equipment
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68995010 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
25, INTERNATIONAL BUSINESS PARK, NO. 4-17, GERMAN CENTRA, SINGAPORE |
|
Current Address |
: |
25 INTERNATIONAL BUSINESS PARK #04-17 GERMAN CENTRE,, 609916,
SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 30th July 2014 we contacted one of the staff from the Subject and she
provided some information.
The Subject refused to disclose its number of employees.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
22.00% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
23.10% |
] |
|
|
|
|
|
|
|
|
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The Subject's management have been efficient
in controlling its operating costs. The Subject's management had generated
acceptable return for its shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
7 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
10 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The Subject's management was
quite efficient in handling its debtors. The Subject's debtors days were at
an acceptable range, thus the risk of its debts turning bad was minimised.
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 |
[ |
1.26 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.32 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 turnover was erratic, the Subject had maintained a steady
growth in its profit. This indicate the management's efficiency in
controlling its costs and profitability. 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 : STABLE |
||||||
|
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) |
|
|
|
|
|
|
(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 1997, the Subject is a Private Limited company, focusing on
suppliers of suppliers of materials and component testing systems. With its
long establishment in the market, the Subject has received strong support from
its stable customers base. Its business position in the market is quite stable
and it is expected to enjoy better market shares over its rivals. 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. 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.
Despite the lower turnover, the Subject's pre-tax profit have increased
compared to the previous year. The higher profit could be due to better control
of its operating costs and efficiency in utilising its resources. 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 SGD 1,898,428,
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.
Overall, the Subject's payment habit is good as the Subject has a good credit
control and it could be taking advantage of the cash discounts while
maintaining a good reputation with its creditors.
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.
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
ZWICK ASIA PTE LTD |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
|
|
|
|
|
|
TURNOVER |
14,979,537 |
20,325,797 |
18,942,120 |
|
Other Income |
840,759 |
413,383 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
15,820,296 |
20,739,180 |
18,942,120 |
|
Costs of Goods Sold |
(11,506,925) |
(16,757,980) |
- |
|
|
---------------- |
---------------- |
---------------- |
|
Gross Profit |
4,313,371 |
3,981,200 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
444,981 |
350,337 |
338,268 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
444,981 |
350,337 |
338,268 |
|
Taxation |
(27,369) |
(13,721) |
(22,782) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
417,612 |
336,616 |
315,486 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously reported |
1,550,816 |
1,529,200 |
1,213,714 |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
1,550,816 |
1,529,200 |
1,213,714 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,968,428 |
1,865,816 |
1,529,200 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(270,000) |
(315,000) |
- |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,698,428 |
1,550,816 |
1,529,200 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
ZWICK ASIA PTE LTD |
|
ASSETS EMPLOYED: |
|
|
|
|
FIXED ASSETS |
231,447 |
297,402 |
490,369 |
|
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
Subsidiary companies |
217,183 |
217,183 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
217,183 |
217,183 |
- |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
448,630 |
514,585 |
490,369 |
|
|
|
|
|
|
Stocks |
293,571 |
69,118 |
- |
|
Trade debtors |
2,286,157 |
3,392,070 |
- |
|
Other debtors, deposits & prepayments |
131,953 |
113,997 |
- |
|
Amount due from holding company |
423,825 |
361,179 |
- |
|
Cash & bank balances |
2,978,202 |
3,932,262 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
6,113,708 |
7,868,626 |
7,186,366 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
6,562,338 |
8,383,211 |
7,676,735 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
Trade creditors |
314,731 |
968,177 |
- |
|
Other creditors & accruals |
473,547 |
427,690 |
- |
|
Amounts owing to holding company |
1,090 |
1,009 |
- |
|
Amounts owing to subsidiary companies |
3,823,867 |
5,205,862 |
- |
|
Provision for taxation |
22,844 |
3,692 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
4,636,079 |
6,606,430 |
5,947,535 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,477,629 |
1,262,196 |
1,238,831 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,926,259 |
1,776,781 |
1,729,200 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
Ordinary share capital |
200,000 |
200,000 |
200,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
200,000 |
200,000 |
200,000 |
|
|
|
|
|
|
Retained profit/(loss) carried forward |
1,698,428 |
1,550,816 |
1,529,200 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
1,698,428 |
1,550,816 |
1,529,200 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,898,428 |
1,750,816 |
1,729,200 |
|
|
|
|
|
|
Deferred taxation |
27,831 |
25,965 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
27,831 |
25,965 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
|
1,926,259 |
1,776,781 |
1,729,200 |
|
|
============= |
============= |
============= |
|
ZWICK ASIA PTE LTD |
|
TYPES OF FUNDS |
|
|
|
|
Cash |
2,978,202 |
3,932,262 |
- |
|
Net Liquid Funds |
2,978,202 |
3,932,262 |
- |
|
Net Liquid Assets |
1,184,058 |
1,193,078 |
1,238,831 |
|
Net Current Assets/(Liabilities) |
1,477,629 |
1,262,196 |
1,238,831 |
|
Net Tangible Assets |
1,926,259 |
1,776,781 |
1,729,200 |
|
Net Monetary Assets |
1,156,227 |
1,167,113 |
1,238,831 |
|
BALANCE SHEET ITEMS |
|
|
|
|
Total Borrowings |
0 |
0 |
- |
|
Total Liabilities |
4,663,910 |
6,632,395 |
5,947,535 |
|
Total Assets |
6,562,338 |
8,383,211 |
7,676,735 |
|
Net Assets |
1,926,259 |
1,776,781 |
1,729,200 |
|
Net Assets Backing |
1,898,428 |
1,750,816 |
1,729,200 |
|
Shareholders' Funds |
1,898,428 |
1,750,816 |
1,729,200 |
|
Total Share Capital |
200,000 |
200,000 |
200,000 |
|
Total Reserves |
1,698,428 |
1,550,816 |
1,529,200 |
|
LIQUIDITY (Times) |
|
|
|
|
Cash Ratio |
0.64 |
0.60 |
- |
|
Liquid Ratio |
1.26 |
1.18 |
- |
|
Current Ratio |
1.32 |
1.19 |
1.21 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
Stock Ratio |
7 |
1 |
- |
|
Debtors Ratio |
56 |
61 |
- |
|
Creditors Ratio |
10 |
21 |
- |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
Gearing Ratio |
0.00 |
0.00 |
- |
|
Liabilities Ratio |
2.46 |
3.79 |
3.44 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
|
Assets Backing Ratio |
9.63 |
8.88 |
8.65 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
Operating Profit Margin |
2.97 |
1.72 |
1.79 |
|
Net Profit Margin |
2.79 |
1.66 |
1.67 |
|
Return On Net Assets |
23.10 |
19.72 |
19.56 |
|
Return On Capital Employed |
23.10 |
19.72 |
19.56 |
|
Return On Shareholders' Funds/Equity |
22.00 |
19.23 |
18.24 |
|
Dividend Pay Out Ratio (Times) |
0.65 |
0.94 |
- |
|
NOTES TO ACCOUNTS |
|
|
|
|
Contingent Liabilities |
0 |
0 |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.02 |
|
UK Pound |
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.91 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.