|
Report Date : |
12.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARUBENI CHEMICAL ASIA PACIFIC PTE LTD |
|
|
|
|
Registered Office : |
16, Raffles Quay, 28 - 00, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
26.02.1996 |
|
|
|
|
Com. Reg. No.: |
199601351-Z |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of polymers |
|
|
|
|
No. of Employees : |
70 [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 – June 01, 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 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub
|
Source
: CIA |
EXECUTIVE SUMMARY
|
REGISTRATION NO. |
: |
199601351-Z |
|
COMPANY NAME |
: |
MARUBENI CHEMICAL ASIA PACIFIC PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
26/02/1996 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
16, RAFFLES QUAY, 28 - 00, HONG LEONG
BUILDING, 048581, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
16, RAFFLES QUAY, 28 - 00, HONG LEONG
BUILDING, 048581, SINGAPORE. |
|
TEL.NO. |
: |
65-62276056 |
|
FAX.NO. |
: |
65-63240123 |
|
CONTACT PERSON |
: |
MASAKUNI NAKAYAMA ( MANAGING DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
TRADING OF POLYMERS |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
1,500,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,500,000.00 |
|
|
|
|
|
SALES |
: |
USD 450,809,027 [2013] |
|
NET WORTH |
: |
USD 8,498,044 [2013] |
|
|
|
|
|
STAFF STRENGTH |
: |
70 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
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) trading of
polymers.
The immediate holding company of the Subject is MARUBENI ASEAN PTE.
LTD., a company incorporated in SINGAPORE.
The ultimate holding company of the Subject is MARUBENI CORPORATION, a
company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
15/02/2013 |
SGD 1,500,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MARUBENI ASEAN PTE. LTD. |
16, RAFFLES QUAY, 28 - 00, HONG LEONG BUILDING, 048581, SINGAPORE. |
199100806H |
1,500,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,500,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
KOICHI IHARA |
|
Address |
: |
33, OXLEY RISE, 12 - 03, VISIONCREST, 238710, SINGAPORE. |
|
IC / PP No |
: |
G5410732W |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
MR. MASAKUNI NAKAYAMA |
|
Address |
: |
26, CUSCADEN ROAD, 08 - 04, CUSCADEN RESIDENCES, 249722, SINGAPORE. |
|
IC / PP No |
: |
G6401081L |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2010 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1) |
Name of Subject |
: |
MASAKUNI NAKAYAMA |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
AUDITOR
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
1, RAFFLES QUAY, 18- 01, 048583, SINGAPORE |
|
|
|
|
|
|
|
|
COMPANY SECRETARIES
|
1) |
Company Secretary |
: |
TOMOYA HASHIMOTO |
|
|
IC / PP No |
: |
G5469900Q |
|
|
|
|
|
|
|
Address |
: |
1, OXLEY RISE, 07 - 08, ONE OXLEY RISE, 238714, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BANKING
No Banker found in our databank.
ENCUMBRANCE (S) |
No encumbrance was found in our databank at the time of investigation.
LEGAL CHECK AGAINST SUBJECT |
* A check has been conducted in our databank 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.
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 |
[ |
X |
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OPERATIONS |
|
Goods Traded |
: |
POLYMERS
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|
|
|
|
|
|
|
|
COMPANY |
70 |
70 |
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of polymers.
The Subject refused to disclose its operation information.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62276056 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
16 RAFFLES QUAY 28.00 HUNGLEONG BUILDING, SINGAPORE 048581 |
|
Current Address |
: |
16, RAFFLES QUAY, 28 - 00, HONG LEONG BUILDING, 048581, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
Other Investigations
We contacted one of the staff from the Subject
and she provided some information on the Subject.
The address provided is incorrect.
FINANCIAL ANALYSIS |
|
Profitability |
|
|
|
|
|
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
1.96% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
6.43% |
] |
|
|
|
|
|
|
|
|
|
|
The unfavourable return on shareholders' funds could indicate that the
Subject was inefficient in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
5 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
51 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
21 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The favourable debtors' days could
be due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.04 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.14 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 |
: |
Unfavourable |
[ |
1.51 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest
payment. 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. If there
is a fall in the Subject's profit or any increase in interest rate, the
Subject may not be able to generate sufficient cash-flow to service its
interest. 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 : LIMITED |
||||||
|
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK |
|
Major Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
|
|
|
|
|
|
Population (Million) |
4.84 |
4.98 |
5.08 |
5.18 |
5.31 |
|
Gross Domestic Products ( % ) |
1.5 |
(0.8) |
14.5 |
4.9 |
1.3 |
|
Consumer Price Index |
6.6 |
0.6 |
2.8 |
5.2 |
4.6 |
|
Total Imports (Million) |
450,892.6 |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
|
Total Exports (Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
|
Tourist Arrival (Million) |
10.12 |
9.68 |
11.64 |
13.17 |
14.37 |
|
Hotel Occupancy Rate (%) |
81.0 |
75.8 |
85.6 |
86.5 |
86.4 |
|
Cellular Phone Subscriber (Million) |
1.31 |
1.37 |
1.43 |
1.50 |
1.52 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
|
Registration of New Companies (%) |
(2.2) |
4.3 |
12.8 |
8.5 |
(1.3) |
|
Liquidation of Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
|
Liquidation of Companies (%) |
13.7 |
113.4 |
(32.5) |
25.6 |
9.4 |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
|
Registration of New Businesses (%) |
0.36 |
8.15 |
(10.78) |
2.02 |
5.51 |
|
Liquidation of Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
|
Liquidation of Businesses (%) |
(0.8) |
11.4 |
2.8 |
(5) |
(2.2) |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
|
Bankruptcy Orders (%) |
(15.9) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
|
Bankruptcy Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
|
Bankruptcy Discharges (%) |
(7.7) |
103.7 |
(26.3) |
(38.2) |
35.2 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
(0.32) |
3.25 |
(0.48) |
4.25 |
3.64 |
|
Fish Supply & Wholesale |
(6.31) |
(1.93) |
(10.5) |
12.10 |
(0.5) |
|
|
|
|
|
|
|
|
Manufacturing * |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
|
Food, Beverages & Tobacco |
94.8 |
90.4 |
96.4 |
100.0 |
103.5 |
|
Textiles |
180.1 |
145.9 |
122.1 |
100.0 |
104.0 |
|
Wearing Apparel |
334.6 |
211.0 |
123.3 |
100.0 |
92.1 |
|
Leather Products & Footwear |
128.2 |
79.5 |
81.8 |
100.0 |
98.6 |
|
Wood & Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
|
Paper & Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
|
Printing & Media |
118.2 |
100.9 |
103.5 |
100.0 |
93.0 |
|
Crude Oil Refineries |
113.1 |
96.4 |
95.6 |
100.0 |
99.4 |
|
Chemical & Chemical Products |
84.5 |
80.3 |
97.6 |
100.0 |
100.5 |
|
Pharmaceutical Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
|
Rubber & Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
|
Non-metallic Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
|
Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
|
Fabricated Metal Products |
101.3 |
90.8 |
103.6 |
100.0 |
104.3 |
|
Machinery & Equipment |
65.0 |
57.3 |
78.5 |
100.0 |
112.9 |
|
Electrical Machinery |
81.7 |
86.8 |
124.1 |
100.0 |
99.3 |
|
Electronic Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
|
Transport Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
|
|
|
|
|
|
|
|
Construction |
45.90 |
(36.9) |
14.20 |
20.50 |
28.70 |
|
Real Estate |
(11.2) |
1.4 |
21.3 |
25.4 |
31.9 |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
(1.3) |
1.70 |
4.00 |
7.00 |
6.30 |
|
Transport, Storage & Communication |
11.60 |
3.90 |
12.80 |
7.40 |
5.30 |
|
Finance & Insurance |
(5.9) |
(16.4) |
(0.4) |
8.90 |
0.50 |
|
Government Services |
17.40 |
4.50 |
9.70 |
6.90 |
6.00 |
|
Education Services |
0.50 |
0.10 |
(0.9) |
(1.4) |
0.30 |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
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. |
|
MARUBENI CHEMICAL ASIA PACIFIC PTE LTD |
|
Financial Year End |
2013-03-31 |
2011-12-31 |
|
Months |
15 |
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 |
450,809,027 |
319,212,812 |
|
|
---------------- |
---------------- |
|
Total Turnover |
450,809,027 |
319,212,812 |
|
Costs of Goods Sold |
(438,538,342) |
(310,290,123) |
|
|
---------------- |
---------------- |
|
Gross Profit |
12,270,685 |
8,922,689 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
184,690 |
294,538 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
184,690 |
294,538 |
|
Taxation |
(18,209) |
(23,362) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
166,481 |
271,176 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
7,265,513 |
6,994,337 |
|
|
---------------- |
---------------- |
|
As restated |
7,265,513 |
6,994,337 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
7,431,994 |
7,265,513 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
7,431,994 |
7,265,513 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Loan from holding company |
260,197 |
74,242 |
|
Others |
101,204 |
63,069 |
|
|
---------------- |
---------------- |
|
|
361,401 |
137,311 |
|
|
============= |
============= |
BALANCE SHEET
|
MARUBENI CHEMICAL ASIA PACIFIC PTE LTD |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
5,390 |
10,443 |
|
|
|
|
|
INTANGIBLE ASSETS |
|
|
|
Others |
1,605 |
31,979 |
|
|
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
1,605 |
31,979 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
6,995 |
42,422 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Stocks |
6,152,277 |
20,080 |
|
Trade debtors |
62,889,359 |
46,077,624 |
|
Other debtors, deposits & prepayments |
314,118 |
26,915 |
|
Amount due from holding company |
19,954 |
17,857 |
|
Amount due from related companies |
555,677 |
2,681 |
|
Cash & bank balances |
69,201 |
88,855 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
70,000,586 |
46,234,012 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
70,007,581 |
46,276,434 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
25,386,010 |
17,801,562 |
|
Other creditors & accruals |
21,512,242 |
1,493,110 |
|
Amounts owing to holding company |
14,583,605 |
18,498,299 |
|
Amounts owing to related companies |
112 |
132,516 |
|
Provision for taxation |
27,568 |
19,384 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
61,509,537 |
37,944,871 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
8,491,049 |
8,289,141 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
8,498,044 |
8,331,563 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
1,066,050 |
1,066,050 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,066,050 |
1,066,050 |
|
|
|
|
|
RESERVES |
|
|
|
Retained profit/(loss) carried forward |
7,431,994 |
7,265,513 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
7,431,994 |
7,265,513 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
8,498,044 |
8,331,563 |
|
|
|
|
|
|
---------------- |
---------------- |
|
|
8,498,044 |
8,331,563 |
|
|
============= |
============= |
|
|
|
|
FINANCIAL RATIO
|
MARUBENI CHEMICAL ASIA PACIFIC PTE LTD |
|
TYPES OF FUNDS |
|
|
|
Cash |
69,201 |
88,855 |
|
Net Liquid Funds |
69,201 |
88,855 |
|
Net Liquid Assets |
2,338,772 |
8,269,061 |
|
Net Current Assets/(Liabilities) |
8,491,049 |
8,289,141 |
|
Net Tangible Assets |
8,496,439 |
8,299,584 |
|
Net Monetary Assets |
2,338,772 |
8,269,061 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
61,509,537 |
37,944,871 |
|
Total Assets |
70,007,581 |
46,276,434 |
|
Net Assets |
8,498,044 |
8,331,563 |
|
Net Assets Backing |
8,498,044 |
8,331,563 |
|
Shareholders' Funds |
8,498,044 |
8,331,563 |
|
Total Share Capital |
1,066,050 |
1,066,050 |
|
Total Reserves |
7,431,994 |
7,265,513 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.00 |
0.00 |
|
Liquid Ratio |
1.04 |
1.22 |
|
Current Ratio |
1.14 |
1.22 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
5 |
0 |
|
Debtors Ratio |
51 |
53 |
|
Creditors Ratio |
21 |
21 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
7.24 |
4.55 |
|
Times Interest Earned Ratio |
1.51 |
3.15 |
|
Assets Backing Ratio |
7.97 |
7.79 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
0.04 |
0.09 |
|
Net Profit Margin |
0.04 |
0.08 |
|
Return On Net Assets |
6.43 |
5.18 |
|
Return On Capital Employed |
6.42 |
5.16 |
|
Return On Shareholders' Funds/Equity |
1.96 |
3.25 |
|
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.61.12 |
|
|
1 |
Rs.103.54 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
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.