|
|
REGISTRATION
NO.
|
:
|
201217160-N
|
|
COMPANY NAME
|
:
|
GLOBE DIAMONDS
SINGAPORE
PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
11/07/2012
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
545, ORCHARD ROAD,
12-05, FAR EAST SHOPPING CENTRE, 238882, SINGAPORE.
|
|
BUSINESS
ADDRESS
|
:
|
NO. 3 KAKI BUKIT PLACE,
EUNOS TECH
PARK, 416181, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-66719300
|
|
FAX.NO.
|
:
|
65-67468323
|
|
CONTACT PERSON
|
:
|
MEHTA VIMESH
PIYUSH ( DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
TRADING OF
DIAMONDS, JEWELLERIES
|
|
|
|
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
5,000,000.00
ORDINARY SHARE, OF A VALUE OF SGD 5,000,000.00
|
|
|
|
|
|
SALES
|
:
|
USD 17,808,954
[2013]
|
|
NET WORTH
|
:
|
USD 817,142
[2013]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
STABLE
|
|
PAYMENT
|
:
|
POOR
|
|
MANAGEMENT
CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
N/A
|
|
CURRENCY
EXPOSURE
|
:
|
N/A
|
|
GENERAL
REPUTATION
|
:
|
SATISFACTORY
|
|
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) trading of diamonds, jewelleries.
Share Capital History
|
Date
|
Issue &
Paid Up Capital
|
|
24/09/2014
|
SGD
5,000,000.00
|
The major shareholder(s)
of the Subject are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
MEHTA VIMESH
PIYUSH +
|
3, TANJONG RHU
ROAD 12-01, THE WATERSIDE, 436881, SINGAPORE.
|
S6884838E
|
2,500,000.00
|
50.00
|
|
TAKA JEWELLERY
PTE. LTD.
|
3, KAKI BUKIT
PLACE, EUNOS TECHPARK, 416181, SINGAPORE.
|
199708664G
|
2,500,000.00
|
50.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
5,000,000.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
TEO BOON LENG
|
|
Address
|
:
|
73A, LORONG H
TELOK KURAU, 426090, SINGAPORE.
|
|
IC / PP No
|
:
|
S0059581J
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
11/07/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
MEHTA VIMESH
PIYUSH
|
|
Address
|
:
|
3, TANJONG RHU
ROAD 12-01, THE WATERSIDE, 436881, SINGAPORE.
|
|
IC / PP No
|
:
|
S6884838E
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
11/07/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
MEHTA VIMESH
PIYUSH
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
Auditor
|
:
|
RT LLP
|
|
Auditor'
Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
1)
|
Company
Secretary
|
:
|
YANG CHIAH
MING @ YENG CHIAH MING
|
|
|
IC / PP No
|
:
|
S1170628B
|
|
|
|
|
|
|
|
Address
|
:
|
8A, LORONG
KISMIS, UNIQUE GARDEN, 598004, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
C201210455
|
13/09/2012
|
N/A
|
DBS BANK LTD.
|
-
|
Unsatisfied
|
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.
|
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
|
[
|
|
]
|
|
|
Fair 91-120
Days
|
[
|
|
]
|
|
Poor >120
Days
|
[
|
X
|
]
|
|
|
|
|
|
|
|
Local
|
:
|
N/A
|
|
|
|
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Subject refused to disclose its clientele.
|
Goods Traded
|
:
|
DIAMONDS,
JEWELLERIES
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of diamonds,
jewelleries.
The Subject sells jewelleries, stones, diamonds and others.
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone
Number Provided By Client
|
:
|
6887 4112
|
|
Current
Telephone Number
|
:
|
65-66719300
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address
Provided by Client
|
:
|
NO. 3, KAKI
BUKIT PLACE, EUNOS TECHPARK, SINGAPORE 416181
|
|
Current
Address
|
:
|
NO. 3 KAKI
BUKIT PLACE, EUNOS TECH PARK, 416181, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other
Investigations
On 24th September 2014 we contacted one of the staff from the Subject and she
provided some information.
She refused to disclose the number of employees.
|
Profitability
|
|
|
|
|
|
|
|
Return on
Shareholder Funds
|
:
|
Favourable
|
[
|
89.97%
|
]
|
|
|
Return on Net
Assets
|
:
|
Favourable
|
[
|
40.55%
|
]
|
|
|
|
|
|
|
|
|
|
|
Generally the Subject was profitable. The favourable return on
shareholders' funds and return on net assets indicate that the Subject's
management was efficient in utilising the assets to generate returns.
|
|
|
|
|
|
|
|
|
|
Working Capital
Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Favourable
|
[
|
55 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Unfavourable
|
[
|
111 Days
|
]
|
|
|
Creditors
Ratio
|
:
|
Unfavourable
|
[
|
266 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 debtors
ratio was high. The Subject should tighten its credit control and improve
its collection period. The unfavourable creditors' ratio could be due to
the Subject taking advantage of the credit granted by its suppliers.
However this may affect the goodwill between the Subject and its suppliers
and the Subject may inadvertently have to pay more for its future supplies.
|
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Liquid Ratio
|
:
|
Acceptable
|
[
|
0.85 Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
1.02 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The Subject's liquid ratio was slightly low. This could indicate
that the Subject's working capital was slightly deficient. The Subject will
have to improve its liquidity position either by obtaining short term
financing or increase its paid up capital so that it can meet all its short
term obligations as and when they fall due.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Interest Cover
|
:
|
Favourable
|
[
|
66.88 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Unfavourable
|
[
|
1.62 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. 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 :
|
|
|
|
|
|
|
|
The Subject's
liquidity was at an acceptable range. If the Subject is able to obtain
further short term financing, it should be able to meet all its short term obligations.
With the favourable interest cover, the Subject could be able to service
all the accrued interest without facing any difficulties. 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 : STABLE
|
|
|
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK
|
|
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
|
CREDIT RISK EVALUATION & RECOMMENDATION
|
|
Incorporated in 2012, the Subject is a Private Limited company, focusing on
trading of diamonds, jewelleries. The Subject has been in business for less
than 5 years and it has slowly been building up contact with its clients
while competing in the industry. The capital standing of the Subject is
fair. With an adequate share capital, the Subject has the potential of
expanding its business in future.
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.
Based on the higher profitability, the Subject has generated a favourable
return based on its existing shareholders' funds which indicated that the
management was efficient in utilising its funds to generate income. The
Subject managed to maintain an adequate liquidity level, indicating that
the Subject has the ability to meet its financial obligations. The high
gearing ratio clearly implied that the Subject was supported by more debt
than equity. Thus, the Subject is exposed to high financial risk.
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 poor payment habit may affect the goodwill between the Subject and its
suppliers and the Subject may inadvertently have to pay more for its future
supplies.
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
normally.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
|
|
GLOBE DIAMONDS
SINGAPORE PTE. LTD.
|
|
Financial Year
End
|
2013-03-31
|
|
Months
|
9
|
|
Consolidated
Account
|
Company
|
|
Audited
Account
|
YES
|
|
Unqualified
Auditor's Report (Clean Opinion)
|
YES
|
|
Financial Type
|
FULL
|
|
Currency
|
USD
|
|
|
|
|
TURNOVER
|
17,808,954
|
|
|
----------------
|
|
Total Turnover
|
17,808,954
|
|
Costs of Goods
Sold
|
(16,847,696)
|
|
|
----------------
|
|
Gross Profit
|
961,258
|
|
|
----------------
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
832,706
|
|
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
832,706
|
|
Taxation
|
(97,514)
|
|
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
735,192
|
|
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
735,192
|
|
|
----------------
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD
|
735,192
|
|
|
=============
|
|
|
|
|
INTEREST EXPENSE
(as per notes to P&L)
|
|
|
Term loan /
Borrowing
|
12,610
|
|
Others
|
30
|
|
|
----------------
|
|
|
12,640
|
|
|
=============
|
|
|
|
|
GLOBE DIAMONDS
SINGAPORE PTE. LTD.
|
|
ASSETS
EMPLOYED:
|
|
|
FIXED ASSETS
|
1,742,471
|
|
|
|
|
|
----------------
|
|
TOTAL LONG
TERM ASSETS
|
1,742,471
|
|
|
|
|
Stocks
|
2,671,649
|
|
Trade debtors
|
5,433,063
|
|
Other debtors,
deposits & prepayments
|
3,749
|
|
Amount due
from related companies
|
7,067,783
|
|
Cash &
bank balances
|
349,794
|
|
Amount owing
by shareholders
|
12,079
|
|
|
----------------
|
|
TOTAL CURRENT
ASSETS
|
15,538,117
|
|
|
----------------
|
|
TOTAL ASSET
|
17,280,588
|
|
|
=============
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
Trade
creditors
|
12,255,646
|
|
Other
creditors & accruals
|
1,415,495
|
|
Short term
borrowings/Term loans
|
58,032
|
|
Amounts owing
to related companies
|
149
|
|
Amounts owing
to director
|
1,369,010
|
|
Provision for
taxation
|
97,514
|
|
|
----------------
|
|
TOTAL CURRENT
LIABILITIES
|
15,195,846
|
|
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
342,271
|
|
|
----------------
|
|
TOTAL NET
ASSETS
|
2,084,742
|
|
|
=============
|
|
|
|
|
SHARE CAPITAL
|
|
|
Ordinary share
capital
|
81,950
|
|
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
81,950
|
|
|
|
|
Retained
profit/(loss) carried forward
|
735,192
|
|
|
----------------
|
|
TOTAL RESERVES
|
735,192
|
|
|
|
|
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
817,142
|
|
|
|
|
Long term
loans
|
1,267,600
|
|
|
----------------
|
|
TOTAL LONG
TERM LIABILITIES
|
1,267,600
|
|
|
----------------
|
|
|
2,084,742
|
|
|
=============
|
|
|
|
|
|
|
|
GLOBE DIAMONDS
SINGAPORE PTE. LTD.
|
|
TYPES OF FUNDS
|
|
|
Cash
|
349,794
|
|
Net Liquid
Funds
|
349,794
|
|
Net Liquid
Assets
|
(2,329,378)
|
|
Net Current
Assets/(Liabilities)
|
342,271
|
|
Net Tangible
Assets
|
2,084,742
|
|
Net Monetary
Assets
|
(3,596,978)
|
|
BALANCE SHEET
ITEMS
|
|
|
Total
Borrowings
|
1,325,632
|
|
Total
Liabilities
|
16,463,446
|
|
Total Assets
|
17,280,588
|
|
Net Assets
|
2,084,742
|
|
Net Assets
Backing
|
817,142
|
|
Shareholders'
Funds
|
817,142
|
|
Total Share
Capital
|
81,950
|
|
Total Reserves
|
735,192
|
|
LIQUIDITY
(Times)
|
|
|
Cash Ratio
|
0.02
|
|
Liquid Ratio
|
0.85
|
|
Current Ratio
|
1.02
|
|
WORKING
CAPITAL CONTROL (Days)
|
|
|
Stock Ratio
|
55
|
|
Debtors Ratio
|
111
|
|
Creditors
Ratio
|
266
|
|
SOLVENCY
RATIOS (Times)
|
|
|
Gearing Ratio
|
1.62
|
|
Liabilities
Ratio
|
20.15
|
|
Times Interest
Earned Ratio
|
66.88
|
|
Assets Backing
Ratio
|
25.44
|
|
PERFORMANCE
RATIO (%)
|
|
|
Operating
Profit Margin
|
4.68
|
|
Net Profit
Margin
|
4.13
|
|
Return On Net
Assets
|
40.55
|
|
Return On
Capital Employed
|
40.55
|
|
Return On
Shareholders' Funds/Equity
|
89.97
|
|
Dividend Pay
Out Ratio (Times)
|
0.00
|
|
NOTES TO
ACCOUNTS
|
|
|
Contingent
Liabilities
|
0
|
|