|
Report Date : |
04.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
BEACONS PHARMACEUTICALS PTE. LTD. |
|
|
|
|
Formerly Known As : |
BEACONS CHEMICALS (PRIVATE) LIMITED |
|
|
|
|
Registered Office : |
21, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
06.10.1970 |
|
|
|
|
Com. Reg. No.: |
197000900-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing Pharmaceutical Products |
|
|
|
|
No. of Employees : |
100 [2013] |
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 : |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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. |
: |
197000900-D |
|
COMPANY NAME |
: |
BEACONS PHARMACEUTICALS PTE. LTD. |
|
FORMER NAME |
: |
BEACONS CHEMICALS (PRIVATE) LIMITED (26/09/2002) |
|
INCORPORATION DATE |
: |
06/10/1970 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
21, CHIN BEE AVENUE, 619942, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
2, SECOND CHIN BEE ROAD, 618769, SINGAPORE. |
|
TEL.NO. |
: |
65-62652336 |
|
FAX.NO. |
: |
65-62615723 |
|
WEB SITE |
: |
WWW.BEACONS.COM.SG |
|
CONTACT PERSON |
: |
LAM WEI CHAK ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING PHARMACEUTICAL PRODUCTS |
|
ISSUED AND PAID UP CAPITAL |
: |
600,003.00 ORDINARY SHARE, OF A VALUE OF SGD 600,003.00 |
|
SALES |
: |
SGD 8,666,422 [2012] |
|
NET WORTH |
: |
SGD 7,200,953 [2012] |
|
STAFF STRENGTH |
: |
100 [2013] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
INDUSTRY OUTLOOK |
: |
MATURE |
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) manufacturing
pharmaceutical products.
The immediate and ultimate holding company of the Subject is VALUED
PARTNERS RESOURCES INC., a company incorporated in VIRGIN ISLANDS, BRITISH.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
31/12/2013 |
SGD 850,003.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
VALUED PARTNERS RESOURCES INC. |
WICKHAMS CAY 1, ROAD TOWN, TORTOLA, P.O.BOX 362, OMAR HODGE BUILDING, BV1,
3RD FLOOR, VIRGIN ISLANDS, BRITISH. |
T07UF3259D |
590,002.00 |
69.41 |
|
JOSEPH LAM WEI CHAK + |
25, DUKE'S ROAD, 01-06, DUKES RESIDENCE, 268906, SINGAPORE. |
S2200567G |
250,000.00 |
29.41 |
|
IVANA KUT VOON POR + |
25, DUKE'S ROAD, 01-06, DUKES RESIDENCE, 268906, SINGAPORE. |
S7285122F |
1.00 |
0.00 |
|
YOUNG PO WAH |
9H, YUAN CHING ROAD, 06 - 84 LAKESIDE TOWER, 618650, SINGAPORE. |
S2184418G |
10,000.00 |
1.18 |
|
|
|
|
--------------- |
------ |
|
|
|
|
850,003.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
591612H |
MALAYSIA |
HEALTH LIFESPRING SDN. BHD. |
100.00 |
31/12/2013 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
LAM MEI SIEM @ LEI MEISEN |
|
Address |
: |
7, LINCOLN ROAD, 09-01, LINCH, THE, 308346, SINGAPORE. |
|
IC / PP No |
: |
S7506187J |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
18/09/2000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
IVANA KUT VOON POR |
|
Address |
: |
25, DUKE'S ROAD, 01-06, DUKES RESIDENCE, 268906, SINGAPORE. |
|
IC / PP No |
: |
S7285122F |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
03/03/2008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
JOSEPH LAM WEI CHAK |
|
Address |
: |
25, DUKE'S ROAD, 01-06, DUKES RESIDENCE, 268906, SINGAPORE. |
|
IC / PP No |
: |
S2200567G |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
16/01/2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
LAM WEI CHAK |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
K.G. TAN & CO. PAC |
|
Auditor' Address |
: |
111, NORTH BRIDGE ROAD #20- 02 PENINSULA PLAZA, 179098, SINGAPORE. |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
HO SU-YEN CINDI |
|
|
IC / PP No |
: |
S7701472A |
|
|
|
|
|
|
|
Address |
: |
66, BEDOK SOUTH AVENUE 3, 21-508, 460066, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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 |
: |
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 |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
NO |
|
|
|
|
|
|
|
|
|
|
|
Credit Term |
: |
30 DAYS |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CASH |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products manufactured |
: |
|
|
|
|
|
|
|
|
Brand Name |
: |
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
100 |
|
|
|
|
|
|
|
|
|
Branch |
: |
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing
pharmaceutical products.
The Subject is Singapore’s largest manufacturer of generic pharmaceuticals,
with a track record of success spanning of almost 40 years.
The Subject is one of the leading provider of high quality, fully integrated
contract pharmaceutical manufacturing services, and also produces over 200
therapeutics in a variety of dosage forms
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62652336 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
NO. 2, SECOND CHIN BEE ROAD, SINGAPORE |
|
Current Address |
: |
2, SECOND CHIN BEE ROAD, 618769, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
Other Investigations
On 26th December 2013 we contacted one of the staff from the Subject and she
provided some information on the Subject.
The address provided is incomplete.
The Subject refused to disclose its banker.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
0.57% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
<98.28%> |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
<1.31%> |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
0.16% |
] |
|
|
|
|
|
|
|
|
|
|
The lower turnover could be due to the unfavourable market conditions.The
Subject could be more efficient in controlling its operating costs and had
managed to reduce its losses during the year. The Subject's unfavourable
returns on shareholders' funds indicate the management's inefficiency in
utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
47 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
31 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. 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 |
: |
Acceptable |
[ |
0.98 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.49 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's liquid ratio was slightly low. This could indicate that the
Subject's working capital was slightly deficient. The Subject will have to
improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Unfavourable |
[ |
0.61 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.08 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest
payment. The Subject was lowly geared thus it had a low financial risk. The
Subject was mainly financed by its shareholders' funds and internally
generated funds. In times of economic slowdown / downturn, the Subject being
a lowly geared company, will be able to compete better than those companies
which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
Although the Subject's turnover decreased, its losses also decreased
during the year. This could be the result of more efficient control in its operating
costs. The Subject's liquidity was at an acceptable range. If the Subject is
able to obtain further short term financing, it should be able to meet all
its short term obligations. If there is a fall in the Subject's profit or any
increase in interest rate, the Subject may not be able to generate sufficient
cash-flow to service its interest. The Subject as a lowly geared company,
will be more secured compared to those highly geared companies. It has the
ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : LIMITED |
||||||
|
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) |
|
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|
|
|
INDUSTRY : |
MANUFACTURING |
|
|
|
|
|
|
|
The manufacturing sector contracted by 1.1% in the fourth quarter of
2012, led by declines in the electronics and precision engineering clusters.
These clusters were weighed down by weak global demand for semiconductors and
semiconductor-related equipment. For the whole year of 2012, the
manufacturing sector grew by 0.1%, significantly lower than the 7.8% recorded
in 2011 when the sector was boosted by a surge in the growth of the
biomedical manufacturing cluster. |
|
|
|
|
|
Output of the biomedical manufacturing cluster grew by 2.4% in the
fourth quarter. The expansion was driven by the medical technology segment
which grew by a healthy 9.2%, benefitting from robust export demand for
medical devices. The pharmaceuticals segment also grew by a modest 1.1%. For
2012, the biomedical manufacturing cluster expanded by 9.9%. |
|
|
|
|
|
Output of the transport engineering cluster expanded by 4.9% in the
fourth quarter. The aerospace segment grew by 6.2%, supported by higher
demand for repair jobs from commercial airlines. Similarly, the marine &
offshore engineering segment expanded by 5.0%, on the back of higher
contributions from oil rig projects and oilfield equipment components. In the
year 2012, the transport engineering cluster surged by 11%. |
|
|
|
|
|
The output of the precision engineering cluster shrank by 1.3% in the
fourth quarter. The decline was led by the 5.3% contraction in the machinery
& systems segment, which saw weak export demand for semiconductor-related
equipment. On the other hand, the precision modules & components segment
grew by 2.9%, supported by higher production of optical instruments &
photographic equipment and electronic connectors. In 2012, the precision
engineering cluster expanded by 1.3%. |
|
|
|
|
|
The general manufacturing cluster's output grew by 1.2% in the fourth
quarter, driven by the 6.4% growth in the miscellaneous industries segment.
The segment's growth was supported by higher production of batteries and
constructionrelated materials. By contrast, the printing and food, beverages
& tobacco segments declined by 6.4% and 1.3% respectively. For 2012, the
general manufacturing cluster grew by 2.0%. |
|
|
|
|
|
The chemicals cluster's output grew by 7.7% in the fourth quarter. The
petrochemicals and petroleum segments registered growth of 9.3% and 6.3%
respectively, partly due to the low base from plant shutdowns in end of 2011.
The specialty chemicals segment also expanded by 8.0% on the back of higher
regional demand. For the year 2012, the chemicals cluster declined by 0.4%,
primarily due to weak regional demand for specialty chemicals in the second
and third quarter of 2012. |
|
|
|
|
|
Output of the electronics cluster contracted by 10% in the fourth quarter,
led by the semiconductors and computer peripherals segments which contracted
by 13% and 15% respectively. By contrast, the data storage segment grew by
7.8%, mainly due to the low base in end of 2011 when floods in Thailand had
disrupted the supply chain for data storage products. For the whole of 2012,
the electronics cluster contracted by 11%. |
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OVERALL INDUSTRY OUTLOOK : MATURE |
|
|
Incorporated in 1970, the Subject is a Private Limited company,
focusing on manufacturing pharmaceutical products. The Subject has been in
business for over 4 decades. It has built up a strong clientele base and good
reputation will enable the Subject to further enhance its business in the
near term. The Subject is expected to enjoy a stable market shares. Having
strong support from its holding company has enabled the Subject to remain
competitive despite the challenging business environment.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
Financial Year
End |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
Unit |
|
|
|
|
|
|
|
TURNOVER |
8,666,422 |
8,716,223 |
|
|
---------------- |
---------------- |
|
Total Turnover |
8,666,422 |
8,716,223 |
|
Costs of Goods Sold |
<5,850,500> |
<6,334,037> |
|
|
---------------- |
---------------- |
|
Gross Profit |
2,815,922 |
2,382,186 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
<7,995> |
<465,435> |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
<7,995> |
<465,435> |
|
Taxation |
<86,000> |
114,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
<93,995> |
<351,435> |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
6,285,382 |
6,681,817 |
|
|
---------------- |
---------------- |
|
As restated |
6,285,382 |
6,681,817 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
6,191,387 |
6,330,382 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
<45,000> |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
6,191,387 |
6,285,382 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Lease interest |
9,760 |
6,736 |
|
Term loan / Borrowing |
10,784 |
18,272 |
|
|
20,544 |
25,008 |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
6,064,134 |
6,733,169 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
6,064,134 |
6,733,169 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Stocks |
1,692,059 |
1,927,044 |
|
Trade debtors |
1,106,381 |
1,105,002 |
|
Other debtors, deposits & prepayments |
76,609 |
110,521 |
|
Short term deposits |
75,476 |
75,212 |
|
Amount due from related companies |
101,610 |
101,610 |
|
Cash & bank balances |
1,650,474 |
1,322,397 |
|
Others |
276,550 |
107,100 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
4,979,159 |
4,748,886 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
11,043,293 |
11,482,055 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
499,098 |
741,191 |
|
Other creditors & accruals |
518,911 |
570,997 |
|
Hire purchase & lease creditors |
58,386 |
48,657 |
|
Short term borrowings/Term loans |
161,604 |
145,331 |
|
Amounts owing to director |
2,111,669 |
2,288,291 |
|
Provision for taxation |
1,593 |
1,593 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
3,351,261 |
3,796,060 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
1,627,898 |
952,826 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
7,692,032 |
7,685,995 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
850,003 |
850,003 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
850,003 |
850,003 |
|
|
|
|
|
RESERVES |
|
|
|
Retained profit/(loss) carried forward |
6,191,387 |
6,285,382 |
|
Others |
159,563 |
87,862 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
6,350,950 |
6,373,244 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
7,200,953 |
7,223,247 |
|
|
|
|
|
LONG TERM LIABILITIES |
|
|
|
Long term loans |
247,465 |
421,072 |
|
Lease obligations |
126,614 |
10,676 |
|
Deferred taxation |
117,000 |
31,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
491,079 |
462,748 |
|
|
---------------- |
---------------- |
|
|
7,692,032 |
7,685,995 |
|
|
============= |
============= |
|
|
|
|
|
TYPES OF FUNDS |
|
|
|
Cash |
1,725,950 |
1,397,609 |
|
Net Liquid Funds |
1,725,950 |
1,397,609 |
|
Net Liquid Assets |
<64,161> |
<974,218> |
|
Net Current Assets/(Liabilities) |
1,627,898 |
952,826 |
|
Net Tangible Assets |
7,692,032 |
7,685,995 |
|
Net Monetary Assets |
<555,240> |
<1,436,966> |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
594,069 |
625,736 |
|
Total Liabilities |
3,842,340 |
4,258,808 |
|
Total Assets |
11,043,293 |
11,482,055 |
|
Net Assets |
7,692,032 |
7,685,995 |
|
Net Assets Backing |
7,200,953 |
7,223,247 |
|
Shareholders' Funds |
7,200,953 |
7,223,247 |
|
Total Share Capital |
850,003 |
850,003 |
|
Total Reserves |
6,350,950 |
6,373,244 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.52 |
0.37 |
|
Liquid Ratio |
0.98 |
0.74 |
|
Current Ratio |
1.49 |
1.25 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
71 |
81 |
|
Debtors Ratio |
47 |
46 |
|
Creditors Ratio |
31 |
43 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.08 |
0.09 |
|
Liabilities Ratio |
0.53 |
0.59 |
|
Times Interest Earned Ratio |
0.61 |
<17.61> |
|
Assets Backing Ratio |
9.05 |
9.04 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
<0.09> |
<5.34> |
|
Net Profit Margin |
<1.08> |
<4.03> |
|
Return On Net Assets |
0.16 |
<5.73> |
|
Return On Capital Employed |
0.16 |
<5.69> |
|
Return On Shareholders' Funds/Equity |
<1.31> |
<4.87> |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.13 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.41 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.85.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.