|
Report Date : |
13.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
Kappa International Pte Ltd. |
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Registered Office : |
10, Anson Road, 23-16, |
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Country : |
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Financials (as on) : |
28.02.2013 |
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Date of Incorporation : |
04.11.1992 |
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Com. Reg. No.: |
199205962-C |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale of Chemicals and Chemical Products |
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No. of Employees : |
10 |
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 |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
|
Source
: CIA |
|
REGISTRATION NO. |
: |
199205962-C |
||||
|
COMPANY NAME |
: |
KAPPA INTERNATIONAL PTE LTD |
||||
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FORMER NAME |
: |
N/A |
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INCORPORATION DATE |
: |
04/11/1992 |
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COMPANY STATUS |
: |
EXIST |
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LEGAL FORM |
: |
PRIVATE LIMITED |
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LISTED STATUS |
: |
NO |
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REGISTERED ADDRESS |
: |
10, ANSON ROAD, 23-16, |
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|
BUSINESS ADDRESS |
: |
10, ANSON ROAD, 23-16, |
||||
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TEL.NO. |
: |
65-62256186 |
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|
FAX.NO. |
: |
65-62256187 |
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|
CONTACT PERSON |
: |
KHETAN PURNA ASHOK ( DIRECTOR ) |
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PRINCIPAL ACTIVITY |
: |
WHOLESALE OF CHEMICALS AND CHEMICAL PRODUCTS |
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ISSUED AND PAID UP CAPITAL |
: |
1,059,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,059,000.00 |
||||
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|
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SALES |
: |
USD 42,580,122 [2013] |
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NET WORTH |
: |
USD 2,815,822 [2013] |
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|
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STAFF STRENGTH |
: |
10 [2014] |
||||
|
||||||
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LITIGATION |
: |
CLEAR |
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|
FINANCIAL CONDITION |
: |
STABLE |
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PAYMENT |
: |
PROMPT |
||||
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MANAGEMENT CAPABILITY |
: |
AVERAGE |
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|
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COMMERCIAL RISK |
: |
LOW |
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|
CURRENCY EXPOSURE |
: |
MODERATE |
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|
GENERAL REPUTATION |
: |
GOOD |
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|
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) wholesale of chemicals and
chemical products.
The
immediate holding company of the Subject is A-VISIONS DEVELOPMENT INC., a
company incorporated in
The
ultimate holding company of the Subject is A-VISIONS DEVELOPMENT INC, a company
incorporated in VIRGIN ISLANDS, BRITISH.
Share
Capital History
|
Date |
Issue & Paid
Up Capital |
|
04/08/2014 |
SGD 1,059,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
A-VISIONS DEVELOPMENT INC. |
TRUSTNET CHAMPERS, P.O. BOX 3444 ROAD TOWN, TORTOLA, VIRGIN ISLANDS,
BRITISH. |
T12UF4063 |
1,059,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,059,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also
Director
DIRECTOR 1
|
Name Of Subject |
: |
KHETAN ASHOK RADHAVALLABH |
|
Address |
: |
83, MEYER ROAD, 10-01, MEYER PARK, 437910, SINGAPORE. |
|
IC / PP No |
: |
S2202069B |
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Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
10/10/2012 |
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DIRECTOR 2
|
Name Of Subject |
: |
NG GUAT CHING |
|
Address |
: |
666, JALAN DAMAI, 13-101, 410666, SINGAPORE. |
|
IC / PP No |
: |
S1344657A |
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Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
10/10/2012 |
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|
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|
1) |
Name of Subject |
: |
KHETAN PURNA ASHOK |
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|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
D. ARUMUGAM & CO |
|
Auditor' Address |
: |
N/A |
|
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|
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|
1) |
Company Secretary |
: |
HARIKRISHNAN S/O MUTHUSAMY |
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|
IC / PP No |
: |
S2135685I |
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Address |
: |
101, AH HOOD ROAD, 11-02, 320101, SINGAPORE. |
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Banking relations are maintained principally with :
|
1) |
Name |
: |
UCO BANK |
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|
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 |
|
Import Countries |
: |
ASIA |
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 |
[ |
|
] |
|
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Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
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Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
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Overseas |
: |
YES |
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|
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Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
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Payment Mode |
: |
CHEQUES |
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Goods Traded |
: |
CHEMICAL PRODUCTS
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|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2011 |
|
|||||
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|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
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COMPANY |
10 |
10 |
10 |
|
|
|
|
|
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Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of chemicals
and chemical products.
The Subject sells all kinds of chemicals, raw materials and others.
The Subject sells the products according to its customers' orders.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6562256186 |
|
Current Telephone Number |
: |
65-62256186 |
|
Match |
: |
YES |
|
|
|
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|
Address Provided by Client |
: |
10 APSON ROAD, # 23-16 INTERNATIONAL PLAZA, SINGAPORE 079903 |
|
Current Address |
: |
10, ANSON ROAD, 23-16, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
Match |
: |
YES |
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|
|
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
|
Profitability |
|
|
|
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|
Turnover |
: |
Erratic |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.14% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.32% |
] |
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|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The dip in profit could be due to the stiff
market competition which reduced the Subject's profit margin. The Subject's management
had generated acceptable return for its shareholders using its assets. |
||||||
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Working Capital Control |
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|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
35 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
8 Days |
] |
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|
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. |
||||||
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Liquidity |
|
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|
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|
Liquid Ratio |
: |
Favourable |
[ |
2.04 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.08 Times |
] |
|
|
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|
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. |
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Solvency |
|
|
|
|
|
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|
Interest Cover |
: |
Acceptable |
[ |
3.89 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.59 Times |
] |
|
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|
The Subject's interest cover was slightly low. If there is no sharp fall
in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and
repay the loans. The Subject was lowly geared thus it had a low financial
risk. The Subject was mainly financed by its shareholders' funds and
internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than
those companies which are highly geared in the same industry. |
||||||
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|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject recorded lower profits as its turnover showed a erratic
trend. The Subject's management was unable to control its costs efficiently as
its profit showed a downward trend. 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 had an acceptable interest cover. If
there is no sudden sharp increase in interest rate or fall in the Subject's
profit, we do believe the Subject is able to generate sufficient cash flow to
service its interest payment. The Subject as a lowly geared company, will be
more secured compared to those highly geared companies. It has the ability to
meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
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) |
|
|
|
|
|
|
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 1992, the Subject is a
Private Limited company, focusing on wholesale of chemicals and chemical products.
The Subject has been in business for over two decades. It has built up a
strong clientele base and good reputation will enable the Subject to further
enhance its business in the near term. The Subject is expected to enjoy
a stable market shares. Having strong support from its holding company has
enabled the Subject to remain competitive despite the challenging business
environment. The capital standing of the Subject is fair. With an adequate
share capital, the Subject has the potential of expanding its business in
future.
|
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH |
|
KAPPA
INTERNATIONAL PTE LTD |
|
Financial Year End |
2013-02-28 |
2012-02-29 |
2011-02-28 |
2010-02-28 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
|
|
|
|
|
|
TURNOVER |
42,580,122 |
42,731,136 |
29,223,191 |
21,009,866 |
|
Other Income |
4,696 |
22,202 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Total Turnover |
42,584,818 |
42,753,338 |
29,223,191 |
21,009,866 |
|
Costs of Goods Sold |
(41,904,277) |
(41,890,138) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross Profit |
680,541 |
863,200 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
341,292 |
403,458 |
268,832 |
200,496 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
341,292 |
403,458 |
268,832 |
200,496 |
|
Taxation |
(27,665) |
(47,978) |
(25,349) |
(15,567) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
313,627 |
355,480 |
243,483 |
184,929 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
As previously reported |
1,745,766 |
1,390,286 |
1,146,803 |
961,874 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
As restated |
1,745,766 |
1,390,286 |
1,146,803 |
961,874 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
Trust receipts |
118,197 |
179,164 |
138,801 |
207,125 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
118,197 |
179,164 |
138,801 |
207,125 |
|
|
============= |
============= |
============= |
============= |
|
KAPPA
INTERNATIONAL PTE LTD |
|
Stocks |
99,010 |
16,150 |
305,977 |
287,550 |
|
Trade debtors |
4,086,700 |
8,017,112 |
3,320,165 |
4,185,769 |
|
Other debtors, deposits & prepayments |
5,587 |
4,439 |
3,463 |
2,976 |
|
Cash & bank balances |
1,224,819 |
206,516 |
718,402 |
90,131 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
5,416,116 |
8,244,217 |
4,348,007 |
4,566,426 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
5,416,116 |
8,244,217 |
4,348,007 |
4,566,426 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
|
|
Trade creditors |
875,603 |
2,106,631 |
1,311,867 |
1,076,445 |
|
Other creditors & accruals |
17,839 |
6,777 |
6,325 |
6,337 |
|
Other borrowings |
1,669,575 |
3,579,734 |
858,327 |
1,563,654 |
|
Provision for taxation |
37,277 |
48,880 |
24,773 |
16,758 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
2,600,294 |
5,742,022 |
2,201,292 |
2,663,194 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
|
Ordinary share capital |
756,429 |
756,429 |
756,429 |
756,429 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
756,429 |
756,429 |
756,429 |
756,429 |
|
|
|
|
|
|
|
Retained profit/(loss) carried forward |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
KAPPA
INTERNATIONAL PTE LTD |
|
TYPES OF FUNDS |
|
|
|
|
|
Cash |
1,224,819 |
206,516 |
718,402 |
90,131 |
|
Net Liquid Funds |
1,224,819 |
206,516 |
718,402 |
90,131 |
|
Net Liquid Assets |
2,716,812 |
2,486,045 |
1,840,738 |
1,615,682 |
|
Net Current Assets/(Liabilities) |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Net Tangible Assets |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Net Monetary Assets |
2,716,812 |
2,486,045 |
1,840,738 |
1,615,682 |
|
BALANCE SHEET ITEMS |
|
|
|
|
|
Total Borrowings |
1,669,575 |
3,579,734 |
858,327 |
1,563,654 |
|
Total Liabilities |
2,600,294 |
5,742,022 |
2,201,292 |
2,663,194 |
|
Total Assets |
5,416,116 |
8,244,217 |
4,348,007 |
4,566,426 |
|
Net Assets |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Net Assets Backing |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Shareholders' Funds |
2,815,822 |
2,502,195 |
2,146,715 |
1,903,232 |
|
Total Share Capital |
756,429 |
756,429 |
756,429 |
756,429 |
|
Total Reserves |
2,059,393 |
1,745,766 |
1,390,286 |
1,146,803 |
|
LIQUIDITY (Times) |
|
|
|
|
|
Cash Ratio |
0.47 |
0.04 |
0.33 |
0.03 |
|
Liquid Ratio |
2.04 |
1.43 |
1.84 |
1.61 |
|
Current Ratio |
2.08 |
1.44 |
1.98 |
1.71 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
|
|
Stock Ratio |
1 |
0 |
4 |
5 |
|
Debtors Ratio |
35 |
68 |
41 |
73 |
|
Creditors Ratio |
8 |
18 |
16 |
19 |
|
SOLVENCY RATIOS (Times) |
|
|
|
|
|
Gearing Ratio |
0.59 |
1.43 |
0.40 |
0.82 |
|
Liabilities Ratio |
0.92 |
2.29 |
1.03 |
1.40 |
|
Times Interest Earned Ratio |
3.89 |
3.25 |
2.94 |
1.97 |
|
Assets Backing Ratio |
3.72 |
3.31 |
2.84 |
2.52 |
|
PERFORMANCE RATIO (%) |
|
|
|
|
|
Operating Profit Margin |
0.80 |
0.94 |
0.92 |
0.95 |
|
Net Profit Margin |
0.74 |
0.83 |
0.83 |
0.88 |
|
Return On Net Assets |
16.32 |
23.28 |
18.99 |
21.42 |
|
Return On Capital Employed |
16.32 |
23.28 |
18.99 |
21.42 |
|
Return On Shareholders' Funds/Equity |
11.14 |
14.21 |
11.34 |
9.72 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
|
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.44 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.38 |
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.