MIRA INFORM REPORT

 

 

Report Date :

24.12.2014

 

IDENTIFICATION DETAILS

 

Name :

YOKOHAMA INDUSTRIAL PRODUCTS ASIA-PACIFIC PTE. LTD.

 

 

Registered Office :

1, Tampines Central 5, 07-10, Cpf Tampines Building, 529508

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

07.03.2013

 

 

Com. Reg. No.:

201306081-E

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         engaged in the as a wholesale of Industrial, Construction as well as Related Machinery and Equipment. 

·         Engaged in the Trading of Industrial Products including Conveyor Belts, Marine Hoses, Pneumatic Fenders, Hydraulic Hoses and sealants for construction. 

 

 

No of Employees :

Not Available

 

[We tried to confirm the number of employees but no one is ready to part any information from the company management.]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but Correct

Litigation :

Clear 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – 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.

:

201306081-E

COMPANY NAME

:

YOKOHAMA INDUSTRIAL PRODUCTS ASIA-PACIFIC PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

07/03/2013

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

1, TAMPINES CENTRAL 5, 07-10, CPF TAMPINES BUILDING, 529508, SINGAPORE.

BUSINESS ADDRESS

:

1 TAMPINES CENTRAL 5 #07- 10 CPF TAMPINES BUILDING, 529508, SINGAPORE.

TEL.NO.

:

65-62604394

FAX.NO.

:

N/A

CONTACT PERSON

:

SHIGEMICHI MORI ( MANAGING DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

WHOLESALE OF INDUSTRIAL, CONSTRUCTION As well as RELATED MACHINERY AND EQUIPMENT

 

 

 

ISSUED AND PAID UP CAPITAL

:

1,125,000.00 ORDINARY SHARE, OF A VALUE OF USD 1,125,000.00 

 

 

 

SALES

:

USD 9,791,966 [2013]

NET WORTH

:

USD 1,274,683 [2013]

 

 

 

STAFF STRENGTH

:

N/A

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

Slow but Correct

MANAGEMENT CAPABILITY

:

AVERAGE

 

 

 

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

POOR

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 industrial, construction as well as related machinery and equipment.

 

The immediate holding company of the Subject is THE YOKOHAMA RUBBER COMPANY, LIMITED, a company incorporated in JAPAN.

 

Share Capital History

Date

Issue & Paid Up Capital

23/12/2014

USD 1,125,000.00

 

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

Name

Address

IC/PP/Loc No

Shareholding

(%)

THE YOKOHAMA RUBBER COMPANY, LIMITED

36-11, SHIMBASHI 5-CHOME, MINATO-KU, TOKYO, 105-8685, JAPAN.

T13UF0941

1,125,000.00

100.00

 

 

 

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

------

 

 

 

1,125,000.00

100.00

 

 

 

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

=====

+ Also Director

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

SHIGEMICHI MORI

Address

:

86,L TANAH MERAH KECHIL AVENUE, 09-17, OPTIMA @ TANAH MERAH, 465517, SINGAPORE.

IC / PP No

:

G5424559P

 

 

 

 

 

 

 

 

 

Nationality

:

JAPANESE

Date of Appointment

:

07/03/2013

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

TAKAO OISHI

Address

:

3-31-25, SHIMOUMA, SETAGAYA-KU, TOKYO, 154-0002, JAPAN.

IC / PP No

:

TZ0738735

 

 

 

 

 

 

 

 

 

Nationality

:

JAPANESE

Date of Appointment

:

07/03/2013

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 3

 

Name Of Subject

:

YUJI HASEGAWA

Address

:

1161-4, KOKUFUHONGO OISOMACHI NAKAGUN KANAGAWA, 259-0111, JAPAN.

IC / PP No

:

TH6138122

 

 

 

 

 

 

 

 

 

Nationality

:

JAPANESE

Date of Appointment

:

15/05/2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MANAGEMENT

 

 

 

1)

Name of Subject

:

SHIGEMICHI MORI

 

Position

:

MANAGING DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

ERNST & YOUNG LLP

Auditor' Address

:

N/A

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

KOH HUI LIAK

 

IC / PP No

:

S0059247A

 

 

 

 

 

Address

:

842, SIMS AVENUE, 10-764, 400842, 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 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

:

YES

Overseas

:

YES

 

 

 


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

:

WORLDWIDE

Credit Term

:

N/A

 

 

 

 

 

 

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



OPERATIONS

 

Goods Traded

:

INDUSTRIAL, CONSTRUCTION AND RELATED MACHINERY AND EQUIPMENT

 

 

 

 

 

Branch

:

NO

 

 

Other Information:

The Subject is principally engaged in the (as a / as an) wholesale of industrial, construction as well as related machinery and equipment. 

The Subject is engaged in the trading of industrial products including conveyor belts, marine hoses, pneumatic fenders, hydraulic hoses and sealants for construction. 

CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-62604394

Match

:

N/A

 

 

 

Address Provided by Client

:

1 TAMPINES CENTRAL 5, #7 - 10 CPF TAMPINES BUILDING SINGAPORE 529508

Current Address

:

1 TAMPINES CENTRAL 5 #07- 10 CPF TAMPINES BUILDING, 529508, SINGAPORE.

Match

:

YES

 

 

 

 

Other Investigations

we contacted one of the staff from the Subject's registered office and she provided some information.

She refused to disclose its fax number, number of employees and bankers.


FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Return on Shareholder Funds

:

Acceptable

[

21.55%

]

 

Return on Net Assets

:

Acceptable

[

22.76%

]

 

 

 

 

 

 

 

 

The Subject's management had generated acceptable return for its shareholders using its assets.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Nil

[

0 Days

]

 

Debtor Ratio

:

Unfavourable

[

144 Days

]

 

Creditors Ratio

:

Favourable

[

18 Days

]

 

 

 

 

 

 

 

 

As the Subject is a service oriented company, the Subject does not need to keep stocks. The Subject's debtors ratio was high. The Subject should tighten its credit control and improve its collection period. 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

[

1.15 Times

]

 

Current Ratio

:

Unfavourable

[

1.15 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

:

Favourable

[

3,111.59 Times

]

 

Gearing Ratio

:

Favourable

[

0.00 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 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. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. 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)

 

 

 

 

 

(Source : Department of Statistics)

 

 

 

 

 



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 2013, the Subject is a Private Limited company, focusing on wholesale of industrial, construction and related machinery and equipment. 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. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. With an issued and paid up capital of USD 1,125,000 and strong backing from its holding company, the Subject has the ability to further expand its business in the future compared to other corporation. 

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. 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. 

The Subject has generated its turnover of USD 9,791,966 and its pre-tax profit of USD 292,395. Return on shareholders' funds of the Subject was at a favourable range which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. 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 SGD 1,274,683, 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 . The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources. 

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.

YOKOHAMA INDUSTRIAL PRODUCTS ASIA-PACIFIC PTE. LTD.

 

Financial Year End

2013-12-31

Months

12

Consolidated Account

Company

Audited Account

YES

Unqualified Auditor's Report (Clean Opinion)

YES

Financial Type

FULL

Currency

USD

 

 

TURNOVER

9,791,966

Other Income

272

 

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

Total Turnover

9,792,238

Costs of Goods Sold

(9,057,886)

 

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

Gross Profit

734,352

 

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

 

 

PROFIT/(LOSS) FROM OPERATIONS

292,395

 

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

PROFIT/(LOSS) BEFORE TAXATION

292,395

Taxation

(17,712)

 

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

PROFIT/(LOSS) AFTER TAXATION

274,683

 

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

PROFIT AVAILABLE FOR APPROPRIATIONS

274,683

 

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

274,683

 

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

 

 

INTEREST EXPENSE (as per notes to P&L)

 

Others

94

 

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

 

94

 

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

 

 

 

BALANCE SHEET

 

 

YOKOHAMA INDUSTRIAL PRODUCTS ASIA-PACIFIC PTE. LTD.

 

ASSETS EMPLOYED:

 

FIXED ASSETS

77,952

 

 

 

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

TOTAL LONG TERM ASSETS

77,952

 

 

Trade debtors

3,858,806

Other debtors, deposits & prepayments

7,227

Short term deposits

43,382

Amount due from holding company

509,286

Cash & bank balances

5,021,646

 

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

TOTAL CURRENT ASSETS

9,440,347

 

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

TOTAL ASSET

9,518,299

 

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

 

 

CURRENT LIABILITIES

 

Trade creditors

445,219

Other creditors & accruals

23,587

Deposits from customers

277,297

Amounts owing to holding company

7,251,599

Amounts owing to related companies

217,969

Provision for taxation

17,712

 

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

TOTAL CURRENT LIABILITIES

8,233,383

 

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

NET CURRENT ASSETS/(LIABILITIES)

1,206,964

 

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

TOTAL NET ASSETS

1,284,916

 

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

 

 

SHARE CAPITAL

 

Ordinary share capital

1,000,000

 

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

TOTAL SHARE CAPITAL

1,000,000

 

 

Retained profit/(loss) carried forward

274,683

 

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

TOTAL RESERVES

274,683

 

 

 

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

SHAREHOLDERS' FUNDS/EQUITY

1,274,683

 

 

Others

10,233

 

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

TOTAL LONG TERM LIABILITIES

10,233

 

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

 

1,284,916

 

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

 

 

 

 

 

FINANCIAL RATIO

 

 

YOKOHAMA INDUSTRIAL PRODUCTS ASIA-PACIFIC PTE. LTD.

 

TYPES OF FUNDS

 

Cash

5,065,028

Net Liquid Funds

5,065,028

Net Liquid Assets

1,206,964

Net Current Assets/(Liabilities)

1,206,964

Net Tangible Assets

1,284,916

Net Monetary Assets

1,196,731

BALANCE SHEET ITEMS

 

Total Borrowings

0

Total Liabilities

8,243,616

Total Assets

9,518,299

Net Assets

1,284,916

Net Assets Backing

1,274,683

Shareholders' Funds

1,274,683

Total Share Capital

1,000,000

Total Reserves

274,683

LIQUIDITY (Times)

 

Cash Ratio

0.62

Liquid Ratio

1.15

Current Ratio

1.15

WORKING CAPITAL CONTROL (Days)

 

Stock Ratio

0

Debtors Ratio

144

Creditors Ratio

18

SOLVENCY RATIOS (Times)

 

Gearing Ratio

0.00

Liabilities Ratio

6.47

Times Interest Earned Ratio

3,111.59

Assets Backing Ratio

1.28

PERFORMANCE RATIO (%)

 

Operating Profit Margin

2.99

Net Profit Margin

2.81

Return On Net Assets

22.76

Return On Capital Employed

22.76

Return On Shareholders' Funds/Equity

21.55

Dividend Pay Out Ratio (Times)

0.00

NOTES TO ACCOUNTS

 

Contingent Liabilities

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.45

UK Pound

1

Rs.98.88

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

MNL

 

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.