|
Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
POS-SEA PTE. LTD. |
|
|
|
|
Registered Office : |
3, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.06.2009 |
|
|
|
|
Com. Reg. No.: |
200909776-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of metals and metal ores except general hardware
(eg steel pipes) |
|
|
|
|
No. of Employees |
Not Available |
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 but correct |
|
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. |
: |
200909776-N |
|
COMPANY NAME |
: |
POS-SEA PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
01/06/2009 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
3, INTERNATIONAL BUSINESS PARK, 03-17, NORDIC EUROPEAN CENTRE, 609927, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
3 INTERNATIONAL BUSINESS PARK 03-17 NORDIC EUROPEAN CENTRE, 609927, SINGAPORE. |
|
TEL.NO. |
: |
65-62658949 |
|
FAX.NO. |
: |
65-62650949 |
|
CONTACT PERSON |
: |
HAN HOIN ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF METALS AND METAL ORES EXCEPT GENERAL HARDWARE (EG STEEL PIPES) |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
1,510,000.00 ORDINARY SHARE, OF A VALUE OF USD 1,510,000.00 |
|
|
|
|
|
SALES |
: |
USD 111,832,477 [2013] |
|
NET WORTH |
: |
USD 2,688,857 [2013] |
|
|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY / BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum of one and a maximum of forty-nine shareholders. As a private limited company, the Subject must have at least two directors. A private limited company is a separate legal entity from its shareholders. As a separate legal entity, the Subject is capable of owning assets, entering into contracts, sue or be sued by other companies. The liabilities of the shareholders are to the extent of the equity they have taken up and the creditors cannot claim on shareholders' personal assets even if the Subject is insolvent. The Subject is governed by the Companies Act and the company must file its annual returns, together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) wholesale of metals and metal ores except general hardware (eg steel pipes).
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
05/08/2014 |
USD 1,510,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
POSCO PROCESSING & SERVICE CO., LTD. |
POSTEEL TOWER 735-3, YEOKSAMDONG, GANGNAM-GU, SEOUL, KOREA. |
T09UF1635 |
1,020,000.00 |
67.55 |
|
HG METAL MANUFACTURING LIMITED |
15, JURONG PORT ROAD, 619119, SINGAPORE. |
198802660D |
490,000.00 |
32.45 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,510,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
HAN HOIN |
|
Address |
: |
16, STIRLING ROAD, 18-15, QUEENS, 148957, SINGAPORE. |
|
IC / PP No |
: |
G6302778U |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
KOREAN |
|
Date of Appointment |
: |
25/04/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
SHIN JONG SIK |
|
Address |
: |
UNIT 113-703, 29, HAKDONGRO 68GIL, GANGNAM-GU, SEOUL, KOREA. |
|
IC / PP No |
: |
F5564597M |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
KOREAN |
|
Date of Appointment |
: |
01/06/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
FOO SEY LIANG |
|
Address |
: |
21, JALAN MALU-MALU, SEMBAWANG SPRINGS ESTATE, 769638, SINGAPORE. |
|
IC / PP No |
: |
S6930226B |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/04/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
HAN HOIN |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
UHY LEE SENG CHAN & CO. |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
|
Auditor |
: |
UHY LEE SENG CHAN & CO. |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
KOH GEOK HOON |
|
|
IC / PP No |
: |
S0188289I |
|
|
|
|
|
|
|
Address |
: |
12, TAI HWAN TERRACE, TAI HWAN GARDEN, 555248, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
KOH EE KOON |
|
|
IC / PP No |
: |
S1246901B |
|
|
|
|
|
|
|
Address |
: |
104, BEDOK RESERVOIR ROAD, 04-362, 470104, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 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 |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE
|
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods Traded |
: |
METALS AND METAL ORES EXCEPT GENERAL HARDWARE (EG STEEL PIPES)
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of metals
and metal ores except general hardware (eg steel pipes).
The Subject refused to disclose its operation.
CURRENT INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
65-6265-8949 |
|
Current Telephone Number |
: |
65-62658949 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
3 INTERNATIONAL BUSINESS PARK 03-17 NORDIC EUROPEAN CENTRE SINGAPORE 609927 |
|
Current Address |
: |
3 INTERNATIONAL BUSINESS PARK 03-17 NORDIC EUROPEAN CENTRE, 609927, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
we contacted one of the staff from the Subject and she only provided limited
information.
She refused to disclose the number of employees.
FINANCIAL ANALYSIS
|
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
39.96% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
32.40% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
21.84% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
27.14% |
] |
|
|
|
|
|
|
|
|
|
|
The increase in turnover could be due to the Subject adopting an aggressive marketing strategy.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 |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the Subject is a service oriented company, the Subject does not need to keep 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 |
[ |
1.30 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.30 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 |
: |
Unfavourable |
[ |
1.75 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was nil as it did not pay any interest during the year. The Subject was highly geared, thus it had a high financial risk. The Subject was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the Subject will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the Subject has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the Subject's turnover and the interest it needs to pay. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates. |
||||||
|
|
|
|
|
|
|
|
|
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 ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
The wholesale and retail trade sector contracted by 1.5% in the fourth quarter of 2012, extending the 0.2% decline in the preceding quarter. For the whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in 2011. The sector was weighed down primarily by the wholesale trade segment. In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the 1.4% growth in 2011. Growth of the retail trade segment also moderated to 2.0%, from 3.2% in the year 2011. |
|
|
|
|
|
The domestic wholesale trade index grew by 1.2% in the fourth quarter of 2012, an improvement from the 5.4% decline in the third quarter. This was partly due to an increase in the sales of chemicals & chemical products and ship chandlers & bunkering. For the full year of 2012, the domestic wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011. The foreign wholesale trade index grew by 8.6% in the fourth quarter, an increase from the 6.6% growth in the third quarter. The expansion was partly due to resilient sales of petroleum & petroleum products. For the whole of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the 4.3% increase in 2011. |
|
|
|
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%, extending the 0.3% decline in the third quarter. Excluding motor vehicles, retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain in the third quarter of 2012. The sales volume of motor vehicles fell by 11% in the fourth quarter of 2012, after contracting by 6.1% in the third quarter. The sales of several discretionary items also declined in the fourth quarter. Besides, the sales of optical goods & books in 2012 fell by 3.6%, while the sales of telecommunications apparatus & computers declined by 1.4%. |
|
|
|
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to the 2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods & toiletries registered the largest increase (9.3%) in sales, followed by telecommunications apparatus & computers (6.9%). By contrast, the sales of watches & jewellery (-2.2%) and optical goods & books (-3.6%) declined. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
|
|
|
|
PROFIT AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
POS-SEA PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
|
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 |
111,832,477 |
79,905,017 |
|
Other Income |
- |
11,820 |
|
|
---------------- |
---------------- |
|
Total Turnover |
111,832,477 |
79,916,837 |
|
Costs of Goods Sold |
(109,206,760) |
(77,848,887) |
|
|
---------------- |
---------------- |
|
Gross Profit |
2,625,717 |
2,067,950 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
730,289 |
551,597 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
730,289 |
551,597 |
|
Taxation |
(143,161) |
(89,068) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
587,128 |
462,529 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
741,729 |
279,200 |
|
|
---------------- |
---------------- |
|
As restated |
741,729 |
279,200 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,328,857 |
741,729 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(150,000) |
- |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,178,857 |
741,729 |
|
|
============= |
============= |
|
|
|
|
|
POS-SEA PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
89,986 |
73,212 |
|
|
|
|
|
Investments |
119,709 |
399,709 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
119,709 |
399,709 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
209,695 |
472,921 |
|
|
|
|
|
Stocks |
- |
4,223,834 |
|
Trade debtors |
7,820,719 |
3,510,435 |
|
Other debtors, deposits & prepayments |
467,077 |
1,456,522 |
|
Short term deposits |
20,747 |
20,747 |
|
Amount due from related companies |
516,814 |
79,482 |
|
Cash & bank balances |
1,887,873 |
227,794 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
10,713,230 |
9,518,814 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
10,922,925 |
9,991,735 |
|
|
============= |
============= |
|
|
|
|
|
Other creditors & accruals |
355,893 |
2,459,013 |
|
Short term borrowings/Term loans |
4,700,000 |
4,971,043 |
|
Amounts owing to holding company |
3,034,095 |
234,460 |
|
Provision for taxation |
142,600 |
72,800 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
8,232,588 |
7,737,316 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
2,480,642 |
1,781,498 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
2,690,337 |
2,254,419 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
1,510,000 |
1,510,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,510,000 |
1,510,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
1,178,857 |
741,729 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
1,178,857 |
741,729 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
2,688,857 |
2,251,729 |
|
|
|
|
|
Deferred taxation |
1,480 |
2,690 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
1,480 |
2,690 |
|
|
---------------- |
---------------- |
|
|
2,690,337 |
2,254,419 |
|
|
============= |
============= |
|
|
|
|
|
POS-SEA PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
1,908,620 |
248,541 |
|
Net Liquid Funds |
1,908,620 |
248,541 |
|
Net Liquid Assets |
2,480,642 |
(2,442,336) |
|
Net Current Assets/(Liabilities) |
2,480,642 |
1,781,498 |
|
Net Tangible Assets |
2,690,337 |
2,254,419 |
|
Net Monetary Assets |
2,479,162 |
(2,445,026) |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
4,700,000 |
4,971,043 |
|
Total Liabilities |
8,234,068 |
7,740,006 |
|
Total Assets |
10,922,925 |
9,991,735 |
|
Net Assets |
2,690,337 |
2,254,419 |
|
Net Assets Backing |
2,688,857 |
2,251,729 |
|
Shareholders' Funds |
2,688,857 |
2,251,729 |
|
Total Share Capital |
1,510,000 |
1,510,000 |
|
Total Reserves |
1,178,857 |
741,729 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.23 |
0.03 |
|
Liquid Ratio |
1.30 |
0.68 |
|
Current Ratio |
1.30 |
1.23 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
0 |
19 |
|
Debtors Ratio |
26 |
16 |
|
Creditors Ratio |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
1.75 |
2.21 |
|
Liabilities Ratio |
3.06 |
3.44 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
1.78 |
1.49 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
0.65 |
0.69 |
|
Net Profit Margin |
0.53 |
0.58 |
|
Return On Net Assets |
27.14 |
24.47 |
|
Return On Capital Employed |
27.14 |
24.47 |
|
Return On Shareholders' Funds/Equity |
21.84 |
20.54 |
|
Dividend Pay Out Ratio (Times) |
0.26 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.86 |
|
|
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.