|
Report Date : |
01.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
HORNBILL RUGGED NETWORKS PTE. LTD. |
|
|
|
|
Registered Office : |
156, Macpherson Road, 09-01, PSL Industrial Building, 348528 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
28.02.2013 |
|
|
|
|
Date of Incorporation : |
15.09.2008 |
|
|
|
|
Com. Reg. No.: |
200818183-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Military Grade, Ruggedized Computing and Communications
Equipment |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
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 – December 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. Real GDP growth
averaged 8.6% between 2004 and 2007. The economy contracted 0.8% in 2009 as a
result of the global financial crisis, but rebounded 14.8% in 2010, on the
strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012,
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, which has sunk to an average of
about 1.0% in the last decade. 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 |
|
REGISTRATION NO. |
: |
200818183-E |
||||
|
COMPANY NAME |
: |
HORNBILL RUGGED NETWORKS PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
15/09/2008 |
||||
|
|
|
|
||||
|
|
|
|
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
|
|
|
||||
|
|
|
|
||||
|
REGISTERED ADDRESS |
: |
156, MACPHERSON ROAD , 09-01, PSL INDUSTRIAL BUILDING, 348528,
SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
156, MACPHERSON ROAD , 09-01, PSL INDUSTRIAL BUILDING, 348528,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68417794 |
||||
|
FAX.NO. |
: |
65-68427191 |
||||
|
CONTACT PERSON |
: |
SALLY ( STAFF ) |
||||
|
|
|
|
||||
|
|
|
|
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF MILITARY GRADE, RUGGEDIZED COMPUTING AND COMMUNICATIONS
EQUIPMENT |
||||
|
|
|
|
||||
|
ISSUED AND PAID UP CAPITAL |
: |
655,640.00 ORDINARY SHARE, OF A VALUE OF SGD 655,640.00 |
||||
|
|
|
|
||||
|
SALES |
: |
USD 5,561,040 [2013] |
||||
|
NET WORTH |
: |
USD 1,411,333 [2013] |
||||
|
|
|
|
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
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 military grade, ruggedized computing and communications equipment.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
30/01/2014 |
SGD 655,640.00 |
The major
shareholder(s) of the Subject are shown as follows:
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SHETH VIJAY INDUBHAI + |
89, YISHUN AVENUE 1, 09-09, THE ESTUARY, 769134, SINGAPORE. |
G6236739W |
652,372.00 |
99.50 |
|
NAND TRADING PRIVATE LIMITED |
1-7, BIRJU APARTMENTS, OPP AZAD SOCIETY, AMBAWADI, AHMEDABAD, GUJARAT, 380015, INDIA. |
T11UF1183 |
3,268.00 |
0.50 |
|
|
|
|
--------------- |
------ |
|
|
|
|
655,640.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
SHETH VIJAY INDUBHAI |
|
Address |
: |
89, YISHUN AVENUE 1, 09-09, THE ESTUARY, 769134, SINGAPORE. |
|
IC / PP No |
: |
G6236739W |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
15/09/2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
SALLY |
|
|
Position |
: |
STAFF |
|
Auditor |
: |
RAFFLES PAC |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
SALMIAH BINTE SARPIAI |
|
|
IC / PP No |
: |
S1794643I |
|
|
|
|
|
|
|
Address |
: |
643, HOUGANG AVENUE 8, 10-279, 530643, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with:
|
1) |
Name |
: |
INDIAN OVERSEAS BANK |
|
|
|
|
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C200907769 |
26/11/2009 |
N/A |
INDIAN OVERSEAS BANK |
- |
Unsatisfied |
|
C201204600 |
26/04/2012 |
N/A |
INDIAN OVERSEAS BANK |
- |
Unsatisfied |
* A check has been conducted in our databank againt the
Subject whether the subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
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 |
[ |
X |
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The staff from the registered office refused to disclose the Subject's
clientele.
|
Goods Traded |
: |
|
|
|
|
|
|
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of military
grade, ruggedized computing and communications equipment.
The staff from the registered office refused to disclose the Subject's
operation.
Latest fresh investigations carried out on the Subject indicated that:
|
Telephone Number Provided By Client |
: |
65 68417794 |
|
Current Telephone Number |
: |
65-68417794 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
#09-01, PSL INDUSTRIAL BUILDING, 156 MACPHERSON ROAD, SINGAPORE 348528
|
|
Current Address |
: |
156, MACPHERSON ROAD , 09-01, PSL INDUSTRIAL BUILDING, 348528,
SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject's registered office and
she provided limited information.
She refused to disclose the Subject's number of employees.
|
Profitability |
|
|
|
|
|
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
27.58% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
35.16% |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
54 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
23 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
The Subject had a favourable creditors' ratio where the Subject could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.41 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.96 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 |
: |
Acceptable |
[ |
6.14 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the Subject
is able to generate sufficient income to service its interest and repay the
loans. The Subject 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. The
Subject had an acceptable interest cover. If there is no sudden sharp
increase in interest rate or fall in the Subject's profit, we do believe the
Subject is able to generate sufficient cash flow to service its interest
payment. The Subject 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 : STRONG |
||||||
|
Major Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
|
|
|
|
|
|
Population (Million) |
4.84 |
4.98 |
5.08 |
5.18 |
5.31 |
|
Gross Domestic Products ( % ) |
1.5 |
(0.8) |
14.5 |
4.9 |
1.3 |
|
Consumer Price Index |
6.6 |
0.6 |
2.8 |
5.2 |
4.6 |
|
Total Imports (Million) |
450,892.6 |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
|
Total Exports (Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
|
Tourist Arrival (Million) |
10.12 |
9.68 |
11.64 |
13.17 |
14.37 |
|
Hotel Occupancy Rate (%) |
81.0 |
75.8 |
85.6 |
86.5 |
86.4 |
|
Cellular Phone Subscriber (Million) |
1.31 |
1.37 |
1.43 |
1.50 |
1.52 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
|
Registration of New Companies (%) |
(2.2) |
4.3 |
12.8 |
8.5 |
(1.3) |
|
Liquidation of Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
|
Liquidation of Companies (%) |
13.7 |
113.4 |
(32.5) |
25.6 |
9.4 |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
|
Registration of New Businesses (%) |
0.36 |
8.15 |
(10.78) |
2.02 |
5.51 |
|
Liquidation of Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
|
Liquidation of Businesses (%) |
(0.8) |
11.4 |
2.8 |
(5) |
(2.2) |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
|
Bankruptcy Orders (%) |
(15.9) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
|
Bankruptcy Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
|
Bankruptcy Discharges (%) |
(7.7) |
103.7 |
(26.3) |
(38.2) |
35.2 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
(0.32) |
3.25 |
(0.48) |
4.25 |
3.64 |
|
Fish Supply & Wholesale |
(6.31) |
(1.93) |
(10.5) |
12.10 |
(0.5) |
|
|
|
|
|
|
|
|
Manufacturing * |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
|
Food, Beverages & Tobacco |
94.8 |
90.4 |
96.4 |
100.0 |
103.5 |
|
Textiles |
180.1 |
145.9 |
122.1 |
100.0 |
104.0 |
|
Wearing Apparel |
334.6 |
211.0 |
123.3 |
100.0 |
92.1 |
|
Leather Products & Footwear |
128.2 |
79.5 |
81.8 |
100.0 |
98.6 |
|
Wood & Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
|
Paper & Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
|
Printing & Media |
118.2 |
100.9 |
103.5 |
100.0 |
93.0 |
|
Crude Oil Refineries |
113.1 |
96.4 |
95.6 |
100.0 |
99.4 |
|
Chemical & Chemical Products |
84.5 |
80.3 |
97.6 |
100.0 |
100.5 |
|
Pharmaceutical Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
|
Rubber & Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
|
Non-metallic Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
|
Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
|
Fabricated Metal Products |
101.3 |
90.8 |
103.6 |
100.0 |
104.3 |
|
Machinery & Equipment |
65.0 |
57.3 |
78.5 |
100.0 |
112.9 |
|
Electrical Machinery |
81.7 |
86.8 |
124.1 |
100.0 |
99.3 |
|
Electronic Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
|
Transport Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
|
|
|
|
|
|
|
|
Construction |
45.90 |
(36.9) |
14.20 |
20.50 |
28.70 |
|
Real Estate |
(11.2) |
1.4 |
21.3 |
25.4 |
31.9 |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
(1.3) |
1.70 |
4.00 |
7.00 |
6.30 |
|
Transport, Storage & Communication |
11.60 |
3.90 |
12.80 |
7.40 |
5.30 |
|
Finance & Insurance |
(5.9) |
(16.4) |
(0.4) |
8.90 |
0.50 |
|
Government Services |
17.40 |
4.50 |
9.70 |
6.90 |
6.00 |
|
Education Services |
0.50 |
0.10 |
(0.9) |
(1.4) |
0.30 |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
The wholesale and retail trade sector contracted by 1.5% in the fourth
quarter of 2012, extending the 0.2% decline in the preceding quarter. For the
whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in
2011. The sector was weighed down primarily by the wholesale trade segment.
In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the
1.4% growth in 2011. Growth of the retail trade segment also moderated to
2.0%, from 3.2% in the year 2011. |
|
|
|
|
|
The domestic wholesale trade index grew by 1.2% in the fourth quarter
of 2012, an improvement from the 5.4% decline in the third quarter. This was
partly due to an increase in the sales of chemicals & chemical products
and ship chandlers & bunkering. For the full year of 2012, the domestic
wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011.
The foreign wholesale trade index grew by 8.6% in the fourth quarter, an
increase from the 6.6% growth in the third quarter. The expansion was partly
due to resilient sales of petroleum & petroleum products. For the whole
of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the
4.3% increase in 2011. |
|
|
|
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%,
extending the 0.3% decline in the third quarter. Excluding motor vehicles,
retail sales volume grew by 0.4%, a slight moderation compared to the 1.5% gain
in the third quarter of 2012. The sales volume of motor vehicles fell by 11%
in the fourth quarter of 2012, after contracting by 6.1% in the third
quarter. The sales of several discretionary items also declined in the fourth
quarter. Besides, the sales of optical goods & books in 2012 fell by
3.6%, while the sales of telecommunications apparatus & computers
declined by 1.4%. |
|
|
|
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to the
2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail
sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods
& toiletries registered the largest increase (9.3%) in sales, followed by
telecommunications apparatus & computers (6.9%). By contrast, the sales
of watches & jewellery (-2.2%) and optical goods & books (-3.6%)
declined. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
Incorporated in 2008, the Subject is a Private Limited company, focusing
on trading of military grade, ruggedized computing and communications
equipment. Having been in business for 6 years, the Subject has established a
remarkable clientele base for itself which has contributed to its business
growth. The Subject is considered as a medium size company with issued and paid
up capital standing at SGD 655,640.
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.
Return on shareholders' funds of the Subject was at an acceptable 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
USD 1,411,333, the Subject should be able to maintain its business in the near
terms.
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.
We regard that the Subject's overall payment habit is prompt. The Subject had a
favourable creditors' ratio as evidenced by its favourable collection days.
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 its strong financial condition, we recommend credit be granted to the
Subject promptly.
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
HORNBILL RUGGED
NETWORKS PTE. LTD.
|
Financial Year End |
2013-02-28 |
2011-08-31 |
|
Months |
18 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
|
|
|
|
TURNOVER |
5,561,040 |
5,890,933 |
|
Other Income |
87,422 |
3,357 |
|
|
---------------- |
---------------- |
|
Total Turnover |
5,648,462 |
5,894,290 |
|
Costs of Goods Sold |
(4,599,623) |
(4,963,151) |
|
|
---------------- |
---------------- |
|
Gross Profit |
1,048,839 |
931,139 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
415,523 |
655,369 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
415,523 |
655,369 |
|
Taxation |
(26,340) |
(90,982) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
389,183 |
564,387 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
877,518 |
313,131 |
|
|
---------------- |
---------------- |
|
As restated |
877,518 |
313,131 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,266,701 |
877,518 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,266,701 |
877,518 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Trust receipts |
80,764 |
52,910 |
|
|
---------------- |
---------------- |
|
|
80,764 |
52,910 |
|
|
============= |
============= |
HORNBILL RUGGED NETWORKS PTE. LTD.
|
CURRENT ASSETS |
|
|
|
Stocks |
815,667 |
1,141,524 |
|
Trade debtors |
805,877 |
845,825 |
|
Other debtors, deposits & prepayments |
730 |
- |
|
Short term deposits |
258,269 |
480,950 |
|
Loans & advances - current portion |
952,000 |
- |
|
Cash & bank balances |
36,227 |
234,627 |
|
Others |
9,029 |
26,937 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
2,877,799 |
2,729,863 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
2,877,799 |
2,729,863 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
294,021 |
104,562 |
|
Other creditors & accruals |
61,001 |
128,930 |
|
Amounts owing to director |
31,319 |
6,574 |
|
Provision for taxation |
25,727 |
96,729 |
|
Other liabilities |
1,054,398 |
1,370,918 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
1,466,466 |
1,707,713 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,411,333 |
1,022,150 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
1,411,333 |
1,022,150 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
144,632 |
144,632 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
144,632 |
144,632 |
|
|
|
|
|
RESERVES |
|
|
|
Retained profit/(loss) carried forward |
1,266,701 |
877,518 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
1,266,701 |
877,518 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
1,411,333 |
1,022,150 |
|
|
|
|
|
|
---------------- |
---------------- |
|
|
1,411,333 |
1,022,150 |
|
|
============= |
============= |
|
|
|
|
HORNBILL RUGGED
NETWORKS PTE. LTD.
|
TYPES OF FUNDS |
|
|
|
Cash |
294,496 |
715,577 |
|
Net Liquid Funds |
294,496 |
715,577 |
|
Net Liquid Assets |
595,666 |
(119,374) |
|
Net Current Assets/(Liabilities) |
1,411,333 |
1,022,150 |
|
Net Tangible Assets |
1,411,333 |
1,022,150 |
|
Net Monetary Assets |
595,666 |
(119,374) |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
1,466,466 |
1,707,713 |
|
Total Assets |
2,877,799 |
2,729,863 |
|
Net Assets |
1,411,333 |
1,022,150 |
|
Net Assets Backing |
1,411,333 |
1,022,150 |
|
Shareholders' Funds |
1,411,333 |
1,022,150 |
|
Total Share Capital |
144,632 |
144,632 |
|
Total Reserves |
1,266,701 |
877,518 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.20 |
0.42 |
|
Liquid Ratio |
1.41 |
0.93 |
|
Current Ratio |
1.96 |
1.60 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
54 |
71 |
|
Debtors Ratio |
53 |
52 |
|
Creditors Ratio |
23 |
8 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
1.04 |
1.67 |
|
Times Interest Earned Ratio |
6.14 |
13.39 |
|
Assets Backing Ratio |
9.76 |
7.07 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
7.47 |
11.13 |
|
Net Profit Margin |
7.00 |
9.58 |
|
Return On Net Assets |
35.16 |
69.29 |
|
Return On Capital Employed |
35.16 |
69.29 |
|
Return On Shareholders' Funds/Equity |
27.58 |
55.22 |
|
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.62.48 |
|
|
1 |
Rs.102.95 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
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 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.