MIRA INFORM REPORT

 

 

Report Date :

23.12.2014

           

IDENTIFICATION DETAILS

 

Name :

RICHARDSON RFPD SINGAPORE PTE. LTD.

 

 

Formerly Known As :

NUTEQ COMPONENTS PTE. LTD.

 

 

Registered Office :

750E, Chai Chee Road, 07- 01/02, Technopark @ Chai Chee, 469005

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

29.09.2004

 

 

Com. Reg. No.:

200412466-D

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Wholesale of Electronic Components

 

 

No. of Employees :

13 [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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

200412466-D

COMPANY NAME

:

RICHARDSON RFPD SINGAPORE PTE. LTD.

FORMER NAME

:

NUTEQ COMPONENTS PTE. LTD. (15/12/2010)

INCORPORATION DATE

:

29/09/2004

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

750E, CHAI CHEE ROAD, 07- 01/02, TECHNOPARK @ CHAI CHEE, 469005, SINGAPORE.

BUSINESS ADDRESS

:

750E CHAI CHEE ROAD #07- 01/02 TECHNOPARK @ CHAI CHEE, 469005, SINGAPORE.

TEL.NO.

:

65-64875995

FAX.NO.

:

65-64875665

WEB SITE

:

WWW.RICHARDSONRFPD.COM

CONTACT PERSON

:

YANG KAM THONG (ZHEN JINTANG) ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

WHOLESALE OF ELECTRONIC COMPONENTS

 

 

 

ISSUED AND PAID UP CAPITAL

:

1,052,500.00 ORDINARY SHARE, OF A VALUE OF SGD 1,157,500.00

 

 

 

SALES

:

USD 12,344,048 [2012]

NET WORTH

:

USD 1,906,042 [2012]

 

 

 

STAFF STRENGTH

:

13 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

GOOD

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

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 electronic components.

 

Share Capital History

Date

Issue & Paid Up Capital

22/12/2014

SGD 1,157,500.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

ARROW ELECTRONICS ASIA (S) PTE. LTD.

750E, CHAI CHEE ROAD, 07-01/02, TECHNOPARK @ CHAI CHEE, SINGAPORE.

199505934R

1,052,500.00

100.00

 

 

 

---------------

------

 

 

 

1,052,500.00

100.00

 

 

 

============

=====

+ Also Director

 

The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :

 

Local No

Country

Company

(%)

As At

199403961E

SINGAPORE

ETEQ COMPONENTS PTE LTD

100.00

26/11/2014

 

 

 

 

 



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MR. LIM BOON TIEK

Address

:

2A, JALAN CEMARA 5, BANDAR BOTANIC, 41200 KLANG, SELANGOR, MALAYSIA.

IC / PP No

:

A28663577

New IC No

:

620207-08-5409

Date of Birth

:

07/02/1962

 

 

 

Nationality

:

MALAYSIAN

Date of Appointment

:

30/04/2013

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

PAUL JOSEPH REILLY

Address

:

21, OSBOURNE ROAD, GARDEN CITY, NY, 11530, UNITED STATES.

IC / PP No

:

445187675

 

 

 

 

 

 

 

 

 

Nationality

:

AMERICAN

Date of Appointment

:

01/12/2008

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

 

Name Of Subject

:

ERIC JOHN SCHUCK

Address

:

482, ROSE QUARTZ PLACE CASTLE ROCK, 80108, UNITED STATES.

IC / PP No

:

113033851

 

 

 

 

 

 

 

 

 

Nationality

:

AMERICAN

Date of Appointment

:

01/01/2014

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 4

 

Name Of Subject

:

PETER S. BROWN

Address

:

20, SUTTON PLACE SOUTH, NEW YORK, 10025, UNITED STATES.

IC / PP No

:

141752910

 

 

 

 

 

 

 

 

 

Nationality

:

AMERICAN

Date of Appointment

:

01/12/2008

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 5

 

Name Of Subject

:

YANG KAM THONG @ ZHEN JINTANG

Address

:

20, DOVER CRESCENT, 08-304, 130020, SINGAPORE.

IC / PP No

:

S7735854D

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

22/06/2012

 

 

 

 

 

 

 

 

 

 

 

 


MANAGEMENT

 

 

 

1)

Name of Subject

:

YANG KAM THONG (ZHEN JINTANG)

 

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

ERNST & YOUNG LLP

Auditor' Address

:

N/A

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

LAU GEK SIN

 

IC / PP No

:

S1524169A

 

 

 

 

 

Address

:

71, TOH TUCK PLACE, TOH TUCK GARDEN, 596836, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

 

BANKING


No Banker found in our databank.

 

 

ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

LITIGATION 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 it's 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

:

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

OPERATIONS

 

Goods Traded

:

ELECTRONIC COMPONENTS

 

 

 

 

 

Total Number of Employees:

YEAR

2014

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

13

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The Subject is principally engaged in the (as a / as an) wholesale of electronic components.


Richardson RFPD, an Arrow Company, is a specialized electronic component distributor providing design engineers with deep technical expertise and localized global design support for the latest new products from the world's leading suppliers of RF, Wireless, Energy and Power Technologies.



CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

 

Telephone Number Provided By Client

:

65 6487 5995

Current Telephone Number

:

65-64875995

Match

:

YES

 

 

 

Address Provided by Client

:

750E CHAI CHEE ROAD, 07-01/02 TECHNOPARK @ CHAI CHEE SINGAPORE 469005

Current Address

:

750E CHAI CHEE ROAD #07- 01/02 TECHNOPARK @ CHAI CHEE, 469005, SINGAPORE.

Match

:

YES

 

Other Investigations


We contacted one of the staff from the Subject and she provided some information on the Subject.


The Subject refused to disclose it's bankers.

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

21.49%

]

 

Profit/(Loss) Before Tax

:

Decreased

[

(479.77%)

]

 

Return on Shareholder Funds

:

Favourable

[

52.60%

]

 

Return on Net Assets

:

Favourable

[

58.37%

]

 

 

 

 

 

 

 

 

The higher turnover could be attributed to the favourable market condition and the Subject could be gaining the market share progressively.The management had succeeded in turning the Subject into a profit making company. The profit could be due to better control of its operating costs and efficiency in utilising its resources. 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

[

15 Days

]

 

Debtor Ratio

:

Acceptable

[

61 Days

]

 

Creditors Ratio

:

Favourable

[

2 Days

]

 

 

 

 

 

 

 

 

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The Subject's management was quite efficient in handling its debtors. The Subject's debtors days were at an acceptable range, thus the risk of its debts turning bad was minimised. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Unfavourable

[

0.73 Times

]

 

Current Ratio

:

Unfavourable

[

0.80 Times

]

 

 

 

 

 

 

 

 

A low liquid ratio means that the Subject may be facing working capital deficiency. If the Subject cannot obtain additional financing or injection of fresh capital, it may face difficulties in meeting its short term obligations.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Nil

[

0.00 Times

]

 

Gearing Ratio

:

Favourable

[

0.00 Times

]

 

 

 

 

 

 

 

 

The Subject's interest cover was nil as it did not pay any interest during the year. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

The higher turnover had helped to reduce the Subject's losses. Due to its weak liquidity position, the Subject will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the Subject. The Subject did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

 

 

 

 

 

 

 

Overall financial condition of the Subject : STABLE

 

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)

 

 

 

 

 



INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

 

 

 

The wholesale and retail trade sectors have expanded by 2.0% in the third quarter of 2014, extending the 1.8 per cent growth in the previous quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining by 1.4% the year before. Growth of the sector was driven by the wholesale trade segment.

 

The domestic wholesale trade index has increased by 3.2% in the fourth quarter of 2013, moderating from the 6.6% growth in the previous quarter. The slower growth was due to a decline in the sales of furniture and household equipment (-12%) and petroleum and petroleum products (-0.6%). For the full year, the domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in 2012. On the other hand, the foreign wholesale trade index has increased by a slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion in the preceding quarter. The slowdown was due to a fall in the sales of telecommunication equipment and computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full year, the growth of the foreign wholesale trade index moderated slightly to 8.6% from 9.1% in the previous year.

 

In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending the 5.6% decline in the previous quarter. Excluding motor vehicles, retail sales volume increased by 0.4%, a slower pace of expansion as compared to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32% decline in the previous quarter. Meanwhile, the sales of several discretionary items also fell in the fourth quarter of 2013. For instance, the sales of telecommunications apparatus and computers fell by 12%, while the sales of furniture and household equipment declined by 5.4%.

 

For the full year, retail sales volume contracted by 4.3%, a reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and jewellery recorded the largest increase (11%) in sales in 2013, followed by optical goods and book (3%) and medical goods and toiletries (3%). By contrast, the sales of telecommunications apparatus and computer (-7.3%), furniture and household equipment (-4.2%) and petrol service stations (-1.4) declined in 2013.

 

 

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH

 

CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 2004, the Subject is a Private Limited company, focusing on wholesale of electronic components. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. A paid up capital of SGD 1,157,500 allows the Subject to expand its business more comfortably. Having strong support from its shareholder has enabled the Subject to remain competitive despite the challenging business environment.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Being a small company, the Subject's business operation is supported by 13 employees. 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.

We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. 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. Due to its weak liquidity position, the Subject may face working capital deficiency in meeting its short term financial obligations if no fresh capital are injected into the Subject. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 1,906,042, the Subject should be able to maintain its business in the near terms.

Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth .

Overall, the Subject's payment habit is good as the Subject has a good credit control and it could be taking advantage of the cash discounts while maintaining a good reputation with its creditors.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.

Based on the above condition, we recommend credit be granted to the Subject promptly.

 

 

PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

RICHARDSON RFPD SINGAPORE PTE. LTD.

 

Financial Year End

2012-12-31

2011-12-31

2010-12-31

2009-12-31

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

SUMMARY

SUMMARY

Currency

USD

USD

SGD

SGD

 

 

 

 

 

TURNOVER

12,344,048

10,160,269

0

0

Other Income

405,001

124,266

-

-

 

----------------

----------------

----------------

----------------

Total Turnover

12,749,049

10,284,535

-

-

 

----------------

----------------

----------------

----------------

 

 

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

1,112,573

(292,963)

-

-

 

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

1,112,573

(292,963)

-

-

Taxation

(110,000)

0

0

0

 

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

1,002,573

(292,963)

-

-

 

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

 

 

As previously reported

203,847

496,810

-

-

 

----------------

----------------

----------------

----------------

As restated

203,847

496,810

-

-

 

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

1,206,420

203,847

-

-

 

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

1,206,420

203,847

-

-

 

=============

=============

=============

=============

 

 

 

 

 

 

 

 

BALANCE SHEET

 

 

RICHARDSON RFPD SINGAPORE PTE. LTD.

 

ASSETS EMPLOYED:

 

 

 

 

FIXED ASSETS

37,982

50,183

1,506,042

1,506,042

 

 

 

 

 

LONG TERM INVESTMENTS/OTHER ASSETS

 

 

 

 

Subsidiary companies

1,190,077

1,190,077

-

-

 

----------------

----------------

----------------

----------------

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

1,190,077

1,190,077

-

-

 

 

 

 

 

Own goodwill

2,129,904

2,129,904

-

-

 

----------------

----------------

----------------

----------------

TOTAL INTANGIBLE ASSETS

2,129,904

2,129,904

-

-

 

----------------

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

3,357,963

3,370,164

1,506,042

1,506,042

 

 

 

 

 

Stocks

520,400

19,101

-

-

Trade debtors

2,049,496

2,723,076

-

-

Other debtors, deposits & prepayments

177,788

207,374

-

-

Cash & bank balances

3,048,412

1,637,537

-

-

Others

13,680

15,818

-

-

 

----------------

----------------

----------------

----------------

TOTAL CURRENT ASSETS

5,809,776

4,602,906

13,962

23,829

 

----------------

----------------

----------------

----------------

TOTAL ASSET

9,167,739

7,973,070

1,520,005

1,529,872

 

=============

=============

=============

=============

 

 

 

 

 

CURRENT LIABILITIES

 

 

 

 

Trade creditors

72,439

202,577

-

-

Other creditors & accruals

124,392

104,444

-

-

Amounts owing to related companies

1,435,442

1,363,480

-

-

Lease payables

63,709

-

-

-

Other liabilities

5,565,715

5,399,100

-

-

 

----------------

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

7,261,697

7,069,601

5,920

6,305

 

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

(1,451,921)

(2,466,695)

8,042

17,525

 

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

1,906,042

903,469

1,514,085

1,523,567

 

=============

=============

=============

=============

 

 

 

 

 

SHARE CAPITAL

 

 

 

 

Ordinary share capital

699,622

699,622

1,157,500

1,157,500

 

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

699,622

699,622

1,157,500

1,157,500

 

 

 

 

 

Retained profit/(loss) carried forward

1,206,420

203,847

356,585

366,067

Others

-

-

0

0

 

----------------

----------------

----------------

----------------

TOTAL RESERVES

1,206,420

203,847

356,585

366,067

 

 

 

 

 

 

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

1,906,042

903,469

1,514,085

1,523,567

 

 

 

 

 

TOTAL LONG TERM LIABILITIES

-

-

0

0

 

----------------

----------------

----------------

----------------

 

1,906,042

903,469

1,514,085

1,523,567

 

=============

=============

=============

=============

 

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

RICHARDSON RFPD SINGAPORE PTE. LTD.

 

TYPES OF FUNDS

 

 

 

 

Cash

3,048,412

1,637,537

-

-

Net Liquid Funds

3,048,412

1,637,537

-

-

Net Liquid Assets

(1,972,321)

(2,485,796)

8,042

17,524

Net Current Assets/(Liabilities)

(1,451,921)

(2,466,695)

8,042

17,524

Net Tangible Assets

(223,862)

(1,226,435)

1,514,085

1,523,567

Net Monetary Assets

(1,972,321)

(2,485,796)

8,042

17,524

BALANCE SHEET ITEMS

 

 

 

 

Total Borrowings

0

0

-

-

Total Liabilities

7,261,697

7,069,601

5,920

6,305

Total Assets

9,167,739

7,973,070

1,520,004

1,529,871

Net Assets

1,906,042

903,469

1,514,084

1,523,567

Net Assets Backing

1,906,042

903,469

1,514,084

1,523,566

Shareholders' Funds

1,906,042

903,469

1,514,085

1,523,567

Total Share Capital

699,622

699,622

1,157,500

1,157,500

Total Reserves

1,206,420

203,847

356,585

366,067

LIQUIDITY (Times)

 

 

 

 

Cash Ratio

0.42

0.23

-

-

Liquid Ratio

0.73

0.65

-

-

Current Ratio

0.80

0.65

2.36

3.78

WORKING CAPITAL CONTROL (Days)

 

 

 

 

Stock Ratio

15

1

-

-

Debtors Ratio

61

98

-

-

Creditors Ratio

2

7

-

-

SOLVENCY RATIOS (Times)

 

 

 

 

Gearing Ratio

0.00

0.00

-

-

Liabilities Ratio

3.81

7.82

0.00

0.00

Times Interest Earned Ratio

0.00

0.00

-

-

Assets Backing Ratio

(0.32)

(1.75)

1.31

1.32

PERFORMANCE RATIO (%)

 

 

 

 

Operating Profit Margin

9.01

(2.88)

-

-

Net Profit Margin

8.12

(2.88)

-

-

Return On Net Assets

58.37

(32.43)

-

-

Return On Capital Employed

27.57

(9.66)

-

-

Return On Shareholders' Funds/Equity

52.60

(32.43)

-

-

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.63.18

UK Pound

1

Rs.98.85

Euro

1

Rs.77.42

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.