MIRA INFORM REPORT
|
Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
METAL ONE |
|
|
|
|
Formerly Known As : |
METAL ONE |
|
|
|
|
Registered Office : |
9, Temasek Boulevard, 26-03, |
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Country : |
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|
|
|
Financials (as on) : |
31.03.2013 |
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Date of Incorporation : |
18.07.1996 |
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Com. Reg. No.: |
199605239-M |
|
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Legal Form : |
Private Limited |
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Line of Business : |
Trading of Metals |
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|
No. of Employees : |
20 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 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. |
: |
199605239-M |
|
COMPANY NAME |
: |
METAL ONE SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
METAL ONE ASIA PTE. LTD. (16/08/2007) |
|
INCORPORATION DATE |
: |
18/07/1996 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
9, TEMASEK BOULEVARD, 26-03, SUNTEC TOWER TWO, 038989, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
9, TEMASEK BOULEVARD, 26-03, SUNTEC TOWER TWO, 038989, SINGAPORE. |
|
TEL.NO. |
: |
65-65061360 |
|
FAX.NO. |
: |
65-65061390 |
|
CONTACT PERSON |
: |
HIDEKI KINO ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF METALS |
|
ISSUED AND PAID UP CAPITAL |
: |
1,100,000.00 ORDINARY SHARE, OF A VALUE OF USD 1,100,000.00 |
|
SALES |
: |
USD 93,897,169 [2013] |
|
NET WORTH |
: |
USD 1,502,230 [2013] |
|
STAFF STRENGTH |
: |
20 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
OMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
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
metals.
The immediate holding company of the Subject is METAL ONE CORPORATION, a
company incorporated in JAPAN.
The ultimate holding company of the Subject is MITSUBISHI CORPORATION, a
company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
23/01/2014 |
USD 1,100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
METAL ONE CORPORATION |
CELESTINE SHIBA MITSUI BUILDING 3-23-1 SHIBA MINATO-KU, TOKYO, 105-00,
JAPAN. |
JP011070 |
1,100,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,100,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
SHINGO TORII |
|
Address |
: |
6-19-54-207, AKASAKA MINATO-KU, TOKYO, 107-0052, JAPAN. |
|
IC / PP No |
: |
TH7370414 |
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Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/06/2012 |
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DIRECTOR 2
|
Name Of Subject |
: |
DAISUKE KADONO |
|
Address |
: |
7-33-6, SHIBAYAMA, FUNABASHI CITY, CHIBA-PREF., JAPAN. |
|
IC / PP No |
: |
TZ0411448 |
|
|
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Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
19/04/2013 |
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DIRECTOR 3
|
Name Of Subject |
: |
TETSU HAYASHI |
|
Address |
: |
ROOM D2, 2-2710, CHIGASAKI HIGASHI, TSUZUKI-KU, YOKOHAMA-SHI,
KANAGAWA, 224-0033, JAPAN. |
|
IC / PP No |
: |
TK7003433 |
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Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/06/2012 |
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DIRECTOR 4
|
Name Of Subject |
: |
HIDEKI KINO |
|
Address |
: |
28, CUSCADEN ROAD, 13-10, CUSCADEN RESIDENCES, 249723, SINGAPORE. |
|
IC / PP No |
: |
F5627698W |
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Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/12/2010 |
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1) |
Name of Subject |
: |
HIDEKI KINO |
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Position |
: |
MANAGING DIRECTOR |
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|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
CHAN CHOW PHENG |
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|
IC / PP No |
: |
S1298885J |
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Address |
: |
59, TELOK BLANGAH HEIGHTS, 04-11, 100059, SINGAPORE. |
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2) |
Company Secretary |
: |
CHANG SOW KUEN |
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IC / PP No |
: |
S1365694J |
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Address |
: |
130, GEYLANG EAST AVENUE 1, 02 - 299, 380130, SINGAPORE. |
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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.
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SOURCES OF RAW MATERIALS: |
||
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Local |
: |
N/A |
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Overseas |
: |
N/A |
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|
The Subject refused to disclose its 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 |
] |
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Good 31-60 Days |
[ |
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] |
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Average 61-90 Days |
[ |
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] |
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Fair 91-120 Days |
[ |
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] |
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Poor >120 Days |
[ |
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] |
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Local |
: |
YES |
|||
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Domestic Markets |
: |
SINGAPORE |
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Overseas |
: |
YES |
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Export Market |
: |
WORLDWIDE |
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Credit Term |
: |
N/A |
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Payment Mode |
: |
CHEQUES |
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Goods Traded |
: |
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Total Number of Employees: |
|||||||||
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YEAR |
2014 |
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GROUP |
N/A |
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COMPANY |
20 |
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Branch |
: |
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Other Information:
The Subject is principally engaged in the (as a / as an) trading of metals.
The Subject sells metal and others.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65061360 |
|
Match |
: |
N/A |
|
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|
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|
Address Provided by Client |
: |
9 TEMASEK BOULEVARD, SUNTEC TOWER 2, #26-03 SINGAPORE 038989 |
|
Current Address |
: |
9, TEMASEK BOULEVARD, 26-03, SUNTEC TOWER TWO, 038989, SINGAPORE. |
|
Match |
: |
YES |
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Other Investigations
On 22nd January 2014 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
|
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|
Turnover |
: |
Decreased |
[ |
35.89% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
53.87% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
26.78% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
37.27% |
] |
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The shrinking turnover could be the result of more entrants into the market
which eroded the Subject's market share.The Subject's profit fell sharply
because of the high operating costs incurred. The Subject's management had
generated acceptable return for its shareholders using its assets. |
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Working Capital Control |
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Stock Ratio |
: |
Favourable |
[ |
0 Days |
] |
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Debtor Ratio |
: |
Favourable |
[ |
48 Days |
] |
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|
Creditors Ratio |
: |
Favourable |
[ |
25 Days |
] |
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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. |
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Liquidity |
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Liquid Ratio |
: |
Favourable |
[ |
1.10 Times |
] |
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Current Ratio |
: |
Unfavourable |
[ |
1.11 Times |
] |
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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. |
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Solvency |
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Interest Cover |
: |
Acceptable |
[ |
8.06 Times |
] |
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|
Gearing Ratio |
: |
Unfavourable |
[ |
3.44 Times |
] |
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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 was highly geared, thus it had a high financial risk. The
Subject was dependent on loans to finance its business needs. In times of
economic downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and to
repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay. |
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Overall Assessment : |
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The Subject's performance deteriorated over the years with lower
turnover and profit. 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's gearing level was high and its going concern
will be in doubt if there is no injection of additional shareholders' funds
in times of economic downturn and / or high interest rates. |
||||||
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Overall financial condition of the Subject : FAIR |
||||||
|
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 : |
TRADING |
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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. |
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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. |
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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%. |
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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. |
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OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
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THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
Financial Year
End |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
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|
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TURNOVER |
93,897,169 |
146,469,989 |
|
Other Income |
622,547 |
378,625 |
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---------------- |
---------------- |
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Total Turnover |
94,519,716 |
146,848,614 |
|
Costs of Goods Sold |
(91,042,224) |
(142,815,209) |
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|
---------------- |
---------------- |
|
Gross Profit |
3,477,492 |
4,033,405 |
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|
---------------- |
---------------- |
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PROFIT/(LOSS) FROM OPERATIONS |
490,474 |
1,063,166 |
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|
---------------- |
---------------- |
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PROFIT/(LOSS) BEFORE TAXATION |
490,474 |
1,063,166 |
|
Taxation |
(88,244) |
(151,030) |
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---------------- |
---------------- |
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PROFIT/(LOSS) AFTER TAXATION |
402,230 |
912,136 |
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---------------- |
---------------- |
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RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
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|
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As previously reported |
632,764 |
(279,372) |
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---------------- |
---------------- |
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As restated |
632,764 |
(279,372) |
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---------------- |
---------------- |
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PROFIT AVAILABLE FOR APPROPRIATIONS |
1,034,994 |
632,764 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(632,764) |
- |
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---------------- |
---------------- |
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RETAINED PROFIT/(LOSS) CARRIED FORWARD |
402,230 |
632,764 |
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============= |
============= |
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INTEREST EXPENSE (as per notes to P&L) |
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|
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Others |
69,424 |
97,557 |
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---------------- |
---------------- |
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|
69,424 |
97,557 |
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|
============= |
============= |
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ASSETS EMPLOYED: |
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FIXED ASSETS |
41,546 |
18,725 |
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LONG TERM INVESTMENTS/OTHER ASSETS |
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Investments |
5,000 |
5,000 |
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Deferred assets |
93,067 |
195,067 |
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Others |
83,288 |
83,288 |
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---------------- |
---------------- |
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TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
181,355 |
283,355 |
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---------------- |
---------------- |
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TOTAL LONG TERM ASSETS |
222,901 |
302,080 |
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CURRENT ASSETS |
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Stocks |
106,118 |
233,659 |
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Trade debtors |
12,247,512 |
11,923,178 |
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Other debtors, deposits & prepayments |
226,609 |
309,344 |
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Amount due from holding company |
- |
3,046 |
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Amount due from related companies |
4,627 |
3,829 |
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Cash & bank balances |
512,625 |
743,722 |
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---------------- |
---------------- |
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TOTAL CURRENT ASSETS |
13,097,491 |
13,216,778 |
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---------------- |
---------------- |
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TOTAL ASSET |
13,320,392 |
13,518,858 |
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============= |
============= |
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CURRENT LIABILITIES |
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Trade creditors |
6,112,187 |
3,590,542 |
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Other creditors & accruals |
342,864 |
471,195 |
|
Bank overdraft |
4,070,988 |
6,224,060 |
|
Short term borrowings/Term loans |
1,097,287 |
868,341 |
|
Amounts owing to holding company |
1,649 |
8,673 |
|
Amounts owing to related companies |
39 |
1,049 |
|
Other liabilities |
193,148 |
622,234 |
|
|
---------------- |
---------------- |
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TOTAL CURRENT LIABILITIES |
11,818,162 |
11,786,094 |
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|
---------------- |
---------------- |
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NET CURRENT ASSETS/(LIABILITIES) |
1,279,329 |
1,430,684 |
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|
---------------- |
---------------- |
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TOTAL NET ASSETS |
1,502,230 |
1,732,764 |
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|
============= |
============= |
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SHARE CAPITAL |
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Ordinary share capital |
1,100,000 |
1,100,000 |
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---------------- |
---------------- |
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TOTAL SHARE CAPITAL |
1,100,000 |
1,100,000 |
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RESERVES |
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Retained profit/(loss) carried forward |
402,230 |
632,764 |
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---------------- |
---------------- |
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TOTAL RESERVES |
402,230 |
632,764 |
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---------------- |
---------------- |
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SHAREHOLDERS' FUNDS/EQUITY |
1,502,230 |
1,732,764 |
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|
---------------- |
---------------- |
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|
1,502,230 |
1,732,764 |
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|
============= |
============= |
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TYPES OF FUNDS |
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Cash |
512,625 |
743,722 |
|
Net Liquid Funds |
(3,558,363) |
(5,480,338) |
|
Net Liquid Assets |
1,173,211 |
1,197,025 |
|
Net Current Assets/(Liabilities) |
1,279,329 |
1,430,684 |
|
Net Tangible Assets |
1,502,230 |
1,732,764 |
|
Net Monetary Assets |
1,173,211 |
1,197,025 |
|
BALANCE SHEET ITEMS |
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|
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Total Borrowings |
5,168,275 |
7,092,401 |
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Total Liabilities |
11,818,162 |
11,786,094 |
|
Total Assets |
13,320,392 |
13,518,858 |
|
Net Assets |
1,502,230 |
1,732,764 |
|
Net Assets Backing |
1,502,230 |
1,732,764 |
|
Shareholders' Funds |
1,502,230 |
1,732,764 |
|
Total Share Capital |
1,100,000 |
1,100,000 |
|
Total Reserves |
402,230 |
632,764 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.04 |
0.06 |
|
Liquid Ratio |
1.10 |
1.10 |
|
Current Ratio |
1.11 |
1.12 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
0 |
1 |
|
Debtors Ratio |
48 |
30 |
|
Creditors Ratio |
25 |
9 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
3.44 |
4.09 |
|
Liabilities Ratio |
7.87 |
6.80 |
|
Times Interest Earned Ratio |
8.06 |
11.90 |
|
Assets Backing Ratio |
1.37 |
1.58 |
|
PERFORMANCE RATIO (%) |
|
|
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Operating Profit Margin |
0.52 |
0.73 |
|
Net Profit Margin |
0.43 |
0.62 |
|
Return On Net Assets |
37.27 |
66.99 |
|
Return On Capital Employed |
10.05 |
14.59 |
|
Return On Shareholders' Funds/Equity |
26.78 |
52.64 |
|
Dividend Pay Out Ratio (Times) |
1.57 |
0.00 |
|
NOTES TO ACCOUNTS |
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Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.09 |
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.