MIRA INFORM REPORT

 

 

Report Date :

30.12.2014

 

IDENTIFICATION DETAILS

 

Name :

SYNECHRON TECHNOLOGIES SINGAPORE PTE. LTD.

 

 

Registered Office :

80, Raffles Place, 26-01, Uob Plaza, 048624

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

28.08.2009

 

 

Com. Reg. No.:

200915925-C

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Subject is engaged in the software consultancy.

 

 

No. of Employee :

13 [2014]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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.

:

200915925-C

COMPANY NAME

:

SYNECHRON TECHNOLOGIES SINGAPORE PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

28/08/2009

 

 

 

 

 

 

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

 

 

 

 

 

 

REGISTERED ADDRESS

:

80, RAFFLES PLACE, 26-01, UOB PLAZA, 048624, SINGAPORE.

BUSINESS ADDRESS

:

80 RAFFLES PLACE UOB PLAZA 1, #26-01, 048624, SINGAPORE.

TEL.NO.

:

65-65325746

FAX.NO.

:

65-65327680

CONTACT PERSON

:

TANVEER SAULAT ( DIRECTOR )

 

 

 

 

 

 

PRINCIPAL ACTIVITY

:

SOFTWARE CONSULTANCY

 

 

 

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00 

 

 

 

SALES

:

SGD 1,507,723 [2014]

NET WORTH

:

SGD (680,006) [2014]

 

 

 

STAFF STRENGTH

:

13 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

WEAK

 

 

 

COMMERCIAL RISK

:

N/A

CURRENCY EXPOSURE

:

N/A

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL 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) software consultancy.

 

Share Capital History

Date

Issue & Paid Up Capital

29/12/2014

SGD 100,000.00

 

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

Name

Address

IC/PP/Loc No

Shareholding

(%)

SYNECHRON HOLDINGS INC.

WOODBOURNE HALL, P.O.BOX 3162, ROAD TOWN, TORTOLA, VIRGIN ISLANDS, BRITISH.

T09UF2392

100,000.00

100.00

 

 

 

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

------

 

 

 

100,000.00

100.00

 

 

 

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

=====

 

+ Also Director

 

DIRECTORS



DIRECTOR 1

 

Name Of Subject

:

TANVEER SAULAT

Address

:

FLAT B-101, BUILDING B, SILVER WOODS, S 81, H 1+4B+5A/5A/3, MUNDHWA, PUNE 1ST FLOOR, INDIA.

IC / PP No

:

Z1576907

 

 

 

 

 

 

 

 

 

Nationality

:

INDIAN

Date of Appointment

:

28/09/2009

 

 

 

 

 

 

 

 

 

 

 

 

 

DIRECTOR 2

 

Name Of Subject

:

KRISHNAVENI D/O SANDANAM

Address

:

43, JALAN TIGA, 10-18, 390043, SINGAPORE.

IC / PP No

:

S1668496A

 

 

 

 

 

 

 

 

 

Nationality

:

SINGAPOREAN

Date of Appointment

:

15/08/2013

 

 

 

 

 

 

 

 

 

 

 

 



MANAGEMENT

 

 

 

 

1)

Name of Subject

:

TANVEER SAULAT

 

Position

:

DIRECTOR

 

 

 

 

 

AUDITOR

 

 

Auditor

:

JBS PRACTICE PUBLIC ACCOUNTING CORPORATION

Auditor' Address

:

N/A

 

 

 

 

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

CHENG LIAN SIANG

 

IC / PP No

:

S1519832Z

 

 

 

 

 

Address

:

7, SIN MING WALK, 20-17, THE GARDENS AT BISHAN, 575577, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

 

 

2)

Company Secretary

:

PATHIMA MUNEERA AZMI

 

IC / PP No

:

S2715498J

 

 

 

 

 

Address

:

122, JURONG EAST STREET, 13, 02-31, IVORY HEIGHTS, 600122, 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 staff from the registered office refused to disclose the Subject'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

[

 

]

 

Average 61-90 Days

[

X

]

 

Fair 91-120 Days

[

 

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 

 

CLIENTELE

 

Local

:

N/A

 

 

 

Overseas

:

N/A

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


The staff from the registered office refused to disclose the Subject's clientele. 

 

OPERATIONS

 

Services

:

SOFTWARE CONSULTANCY

 

 

 

 

 

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) software consultancy. 

The staff from the registered office refused to disclose the Subject's operation. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-65325746

Match

:

N/A

 

 

 

Address Provided by Client

:

80 RAFFLES PLACE UOB PLAZA 1, #26-01 SINGAPORE 048624

Current Address

:

80 RAFFLES PLACE UOB PLAZA 1, #26-01, 048624, SINGAPORE.

Match

:

YES

 

 

 

 

Other Investigations


We contacted one of the staff from the Subject's registered office and she only provided limited information.



FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

26.75%

]

 

Profit/(Loss) Before Tax

:

Increased

[

(456.39%)

]

 

Return on Shareholder Funds

:

Unfavourable

[

30.03%

]

 

Return on Net Assets

:

Unfavourable

[

(136.18%)

]

 

 

 

 

 

 

 

 

The higher turnover could be attributed to the favourable market condition and the Subject could be gaining the market share progressively.Higher losses before tax during the year could be due to the higher operating costs incurred. Although the Subject's returns showed positive figures it is not reflective of the true situation. The Subject incurred losses during the year and its shareholders' funds have turned red. The positive returns on shareholders' funds is the result of losses divided by negative shareholders' funds. The Subject's management was inefficient in utilising the assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Nil

[

0 Days

]

 

Debtor Ratio

:

Favourable

[

54 Days

]

 

Creditors Ratio

:

Favourable

[

38 Days

]

 

 

 

 

 

 

 

 

As the Subject is a service oriented company, the Subject does not need to keep stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

 

 

 

 

 

 

 

Liquidity

 

 

 

 

 

 

Liquid Ratio

:

Favourable

[

1.57 Times

]

 

Current Ratio

:

Unfavourable

[

1.57 Times

]

 

 

 

 

 

 

 

 

A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Unfavourable

[

(2,651.12 Times)

]

 

Gearing Ratio

:

Favourable

[

0.00 Times

]

 

 

 

 

 

 

 

 

The Subject incurred losses in the year. It did not generate sufficient income to service its interest.  If the situation does not improve, the Subject may be vulnerable to default in servicing the interest. 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 :

 

 

 

 

 

 

Although the Subject's turnover increased its profits however showed a reverse trend. The losses could be due to the management's failure to maintain its competitiveness in the market. 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's interest cover was negative, indicating that it did not generate sufficient income to service its interest. If its result does not show impressive improvements or succeed obtaining short term financing or capital injection, it may not be able to service its interest and repay the loans. 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 : POOR

 

 

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 :

INFORMATION TECHNOLOGY

 

 

 

Singapore's infocomm services industry is well-positioned to tap into the new business opportunities of the digital age. An early mover in infocomm technology, Singapore today ranks as the second most network-ready country in the world and the first in Asia, according to the World Economic Forum's "Global Information Technology Report 2014". The roll out of the Intelligent Nation 2015 Master Plan and the National Broadband Network will further strengthen Singapore's infrastructure network.

 

Furthermore, BMI has a positive outlook for the growth of Singapore's IT market in 2014, which will underperform emerging market growth rates, but is expected to outperform against other developed markets. Strong income growth, exposure to the APAC growth story and government policy will all support IT market growth over the medium term. Growth from the sales of PC and devices will slow as high device penetration in the city state means little prospect for first time sales, but short replacement cycles and strong demand for premium devices will ensure it remains a lucrative market for vendors. Considering the government active push to promote Singapore as a destination for cloud, big data and analytics services, Singapore should be a strong contender in the data centre space against peers such as Australia, Taiwan, South Korea and Hong Kong.

 

The information & communications sector grew by 2.3% in the third quarter of 2014. Previously, in the fourth quarter of 2013, the information & communications sector grew by 5.0%, following the 6.0% expansion in the preceding quarter. For the whole of 2013, growth was 5.5%, lower than the 6.2% in 2012.

 

Nonetheless, computer hardware sales forecast to increase from SGD2.926bn in 2014 to SGD3.333bn in 2018, equating to a compound annual growth rate (CAGR) of 3.5% in local currency terms. The slowdown in tablet sales represents downside by a stabilization in desktop and notebook volumes will see the market continue to grow over the medium term. Besides, software sales forecast to increase from SGD1.436bn in 2014 to SGD1.733bn in 2018, representing a CAGR of 5.2% in local currency terms. SME demand for basic enterprise software (particularly SaaS), complex deployments by large enterprises and investments in security software will all be growth areas.

 

IT Services sales forecast to increase from SGD3.236bn in 2014 to SGD4.091bn in 2018, equating to a CAGR of 5.9% in local currency terms. Growing demand for cloud computing, big data and analytics services from telecoms, healthcare, logistics and government will support IT services outperformance.

 

The Intelligent Nation 2015 master plan lays out the blueprint for Singapore’s infocomm strategies in the digital age, with the creation of some 80,000 jobs and an increase of value-add to SGD 26 billion. The master plan will incorporate emerging technologies and leverage strategic developments. Some of these emerging developments include Cloud Computing, Business Analytics and Green ICT. While Singapore has performed well in international e-Government rankings, the next e-Government master plan is already in the pipeline to ensure that we remain at the forefront of e-Government practice and services.

 

 

OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 


Incorporated in 2009, the Subject is a Private Limited company, focusing on software consultancy. 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. The Subject have a strong support from its shareholder. However, the Subject does not have a strong capital position of SGD 100,000. Without a strong capital, the Subject may face difficulties to expand its business compared to other large corporation. 


Being a small company, the Subject's business operation is supported by 13 employees. Overall, we regard that the Subject's management capability is weak. Without capable management, the Subject is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business.

 
Despite the higher turnover, the Subject suffered pre-tax losses which reflected a highly competitive business environment. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. 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. The Subject's unfavourable financial performance over the years has wiped out its shareholders' funds to a deficit of SGD -680,006. Therefore, the Subject as a going concern is much dependent on its ability to generate sufficient cash flow and obtain additional financing to meet its future obligations. 


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

 

The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts. 


The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market. 


Based on the above unfavourable condition, we regard granting credit to the Subject to be quite risky. Hence, credit is not recommended.

 



 

PROFIT AND LOSS ACCOUNT

 

 

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

SYNECHRON TECHNOLOGIES SINGAPORE PTE. LTD.

 

Financial Year End

2014-03-31

2013-03-31

Months

12

12

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

SGD

SGD

 

 

 

TURNOVER

1,507,723

1,189,568

Other Income

383

9,894

 

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

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

Total Turnover

1,508,106

1,199,462

 

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

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

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

(204,213)

(36,703)

 

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

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

PROFIT/(LOSS) BEFORE TAXATION

(204,213)

(36,703)

 

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

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

PROFIT/(LOSS) AFTER TAXATION

(204,213)

(36,703)

 

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

As previously reported

(575,793)

(539,090)

 

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

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

As restated

(575,793)

(539,090)

 

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

(780,006)

(575,793)

 

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(780,006)

(575,793)

 

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

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

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

Others

77

-

 

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

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

 

77

-

 

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

 

 

 

 

 

BALANCE SHEET

 

 

SYNECHRON TECHNOLOGIES SINGAPORE PTE. LTD.

 

ASSETS EMPLOYED:

 

 

FIXED ASSETS

1,997

542

 

 

 

 

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

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

TOTAL LONG TERM ASSETS

1,997

542

 

 

 

Trade debtors

221,184

351,120

Other debtors, deposits & prepayments

44,158

80,354

Cash & bank balances

142,908

46,952

 

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

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

TOTAL CURRENT ASSETS

408,250

478,426

 

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

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

TOTAL ASSET

410,247

478,968

 

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

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

 

 

 

CURRENT LIABILITIES

 

 

Trade creditors

157,037

141,835

Other creditors & accruals

103,229

110,564

Amounts owing to related companies

77

2,452

 

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

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

TOTAL CURRENT LIABILITIES

260,343

254,851

 

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

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

NET CURRENT ASSETS/(LIABILITIES)

147,907

223,575

 

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

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

TOTAL NET ASSETS

149,904

224,117

 

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

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

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

100,000

100,000

 

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

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

TOTAL SHARE CAPITAL

100,000

100,000

 

 

 

Retained profit/(loss) carried forward

(780,006)

(575,793)

 

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

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

TOTAL RESERVES

(780,006)

(575,793)

 

 

 

 

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

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

SHAREHOLDERS' FUNDS/EQUITY

(680,006)

(475,793)

 

 

 

Others

829,910

699,910

 

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

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

TOTAL LONG TERM LIABILITIES

829,910

699,910

 

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

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

 

149,904

224,117

 

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

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

 

 

 

 

 

 

 

FINANCIAL RATIO

 

 

SYNECHRON TECHNOLOGIES SINGAPORE PTE. LTD.

 

TYPES OF FUNDS

 

 

Cash

142,908

46,952

Net Liquid Funds

142,908

46,952

Net Liquid Assets

147,907

223,575

Net Current Assets/(Liabilities)

147,907

223,575

Net Tangible Assets

149,904

224,117

Net Monetary Assets

(682,003)

(476,335)

BALANCE SHEET ITEMS

 

 

Total Borrowings

0

0

Total Liabilities

1,090,253

954,761

Total Assets

410,247

478,968

Net Assets

149,904

224,117

Net Assets Backing

(680,006)

(475,793)

Shareholders' Funds

(680,006)

(475,793)

Total Share Capital

100,000

100,000

Total Reserves

(780,006)

(575,793)

LIQUIDITY (Times)

 

 

Cash Ratio

0.55

0.18

Liquid Ratio

1.57

1.88

Current Ratio

1.57

1.88

WORKING CAPITAL CONTROL (Days)

 

 

Stock Ratio

0

0

Debtors Ratio

54

108

Creditors Ratio

38

44

SOLVENCY RATIOS (Times)

 

 

Gearing Ratio

0.00

0.00

Liabilities Ratio

(1.60)

(2.01)

Times Interest Earned Ratio

(2,651.12)

0.00

Assets Backing Ratio

1.50

2.24

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

(13.54)

(3.09)

Net Profit Margin

(13.54)

(3.09)

Return On Net Assets

(136.18)

(16.38)

Return On Capital Employed

(136.18)

(16.38)

Return On Shareholders' Funds/Equity

30.03

7.71

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.63.65

UK Pound

1

Rs.99.14

Euro

1

Rs.77.60

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

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.