|
|
REGISTRATION NO.
|
:
|
200723062-G
|
|
COMPANY NAME
|
:
|
SKI INVESTMENTS PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
13/12/2007
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
3 SHENTON WAY # 14-01 SHENTON HOUSE, 068805, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-62218455
|
|
FAX.NO.
|
:
|
65-62224984
|
|
CONTACT PERSON
|
:
|
MADUGULA VENKATA NAGA SARITHA ( DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
OTHER INVESTMENT HOLDING COMPANIES
|
|
|
|
|
|
ISSUED AND PAID UP CAPITAL
|
:
|
500,001.00 ORDINARY SHARE, OF A VALUE OF USD 500,001.00
|
|
|
|
|
|
SALES
|
:
|
USD 3,119,830 [2013]
|
|
NET WORTH
|
:
|
USD 3,352,647 [2013]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
POOR
|
|
PAYMENT
|
:
|
N/A
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
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)
other investment holding companies.
The immediate and ultimate holding company of the Subject
is KIRAN INVESTMENTS PTE. LTD., a company incorporated in SINGAPORE.
Share Capital History
|
Date
|
Issue &
Paid Up Capital
|
|
23/01/2014
|
USD 500,001.00
|
The major shareholder(s) of the Subject are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
KIRAN INVESTMENTS PTE. LTD.
|
3, SHENTON WAY, 14-01, SHENTON HOUSE, 068805, SINGAPORE.
|
200802701M
|
500,001.00
|
100.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
500,001.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
The Subject interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No
|
Country
|
Company
|
(%)
|
As At
|
|
|
MAURITIUS
|
SKI CARBON BLACK (MAURITIUS) LIMITED
|
100.00
|
31/03/2013
|
|
|
|
|
|
|
|
|
MAURITIUS
|
PT. BIRLAINDO INDUSTRIES
|
99.00
|
31/03/2013
|
|
|
|
|
|
|
|
|
MAURITIUS
|
INDIGOLD CARBON (MAURITIUS)
|
58.82
|
31/03/2013
|
|
|
|
|
|
|
|
200802699Z
|
SINGAPORE
|
INDOGENIOUS HOLDINGS PTE. LTD.
|
5.00
|
31/03/2013
|
|
|
|
|
|
|
|
200804356E
|
SINGAPORE
|
BIG BANYAN INVESTMENTS PTE. LTD.
|
5.00
|
31/03/2013
|
|
|
|
|
|
|
|
200802696G
|
SINGAPORE
|
ABHA INVESTMENTS PTE. LTD.
|
5.00
|
31/03/2013
|
|
|
|
|
|
|
|
200804357R
|
SINGAPORE
|
BLUE BUCKS INVESTMENTS PTE. LTD.
|
5.00
|
31/03/2013
|
|
|
|
|
|
|
|
200802697W
|
SINGAPORE
|
CALYX INVESTMENTS PTE. LTD.
|
5.00
|
31/03/2013
|
|
|
|
|
|
|
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
MR. MADUGULA VENKATA NAGA SARITHA
|
|
Address
|
:
|
123, RIVERVALE DRIVE, 16-123, 540123, SINGAPORE.
|
|
IC / PP No
|
:
|
S7863329H
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
20/05/2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
SUSHIL AGARWAL
|
|
Address
|
:
|
301, OCEAN VIEW, UNION PARK KHAR (W), MUMBAI, 400 052, INDIA.
|
|
IC / PP No
|
:
|
F9993054
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of Appointment
|
:
|
13/12/2007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject
|
:
|
NANDITA AGARWAL
|
|
Address
|
:
|
2C, HONG SAN WALK, 03-09, PALM GARDENS, 689049, SINGAPORE.
|
|
IC / PP No
|
:
|
S7967934H
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
08/02/2013
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
MADUGULA VENKATA NAGA SARITHA
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
2)
|
Name of Subject
|
:
|
SARITA
|
|
|
Position
|
:
|
STAFF
|
AUDITOR
|
Auditor
|
:
|
LAU CHIN HUAT & CO
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
1)
|
Company Secretary
|
:
|
CHEONG SENG CHOW
|
|
|
IC / PP No
|
:
|
S1350970J
|
|
|
|
|
|
|
|
Address
|
:
|
43, LORONG 5, TOA PAYOH, 11-129, 310043, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
BANKING
No Banker found in our databank.
ENCUMBRANCE (S)
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
1
|
-
|
N/A
|
MORGAN STANLEY CAPITAL GROUP INC.
|
-
|
Unsatisfied
|
|
2
|
-
|
N/A
|
MORGAN STANLEY CAPITAL SERVICES INC.
|
-
|
Unsatisfied
|
|
C200804367
|
12/05/2008
|
N/A
|
MORGAN STANLEY & CO. INTERNATIONAL PLC
|
-
|
Unsatisfied
|
LEGAL 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 Subject is a service provider.
CLIENTELE
|
Local
|
:
|
N/A
|
|
|
|
|
|
Overseas
|
:
|
N/A
|
The staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
Services
|
:
|
OTHER INVESTMENT HOLDING COMPANIES
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) other investment
holding companies.
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
|
:
|
65-62218455
|
|
Match
|
:
|
N/A
|
|
|
|
|
|
Address Provided by Client
|
:
|
3 SHENTONWAY #14-01 SHENTON HOUSE SINGAPORE 068805
|
|
Current Address
|
:
|
3 SHENTON WAY # 14-01 SHENTON HOUSE, 068805, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other Investigations
On 22nd January 2014 we contacted one of the staff from the Subject and she
provided limited information.
She refused to disclose the Subject's number of employees.
FINANCIAL ANALYSIS
|
Profitability
|
|
|
|
|
|
|
|
Return on Shareholder Funds
|
:
|
Acceptable
|
[
|
12.16%
|
]
|
|
|
Return on Net Assets
|
:
|
Favourable
|
[
|
105.06%
|
]
|
|
|
|
|
|
|
|
|
|
|
The Subject's management had generated acceptable return for its
shareholders using its assets.
|
|
|
|
|
|
|
|
|
|
Working Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Nil
|
[
|
0 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Favourable
|
[
|
0 Days
|
]
|
|
|
Creditors Ratio
|
:
|
Favourable
|
[
|
0 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
|
:
|
Unfavourable
|
[
|
0.03 Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
0.03 Times
|
]
|
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the Subject may be facing working capital
deficiency. If the Subject cannot obtain additional financing or injection
of fresh capital, it may face difficulties in meeting its short term
obligations.
|
|
|
|
|
|
|
|
|
|
Solvency
|
|
|
|
|
|
|
|
Interest Cover
|
:
|
Unfavourable
|
[
|
1.13 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Unfavourable
|
[
|
22.37 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 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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment :
|
|
|
|
|
|
|
|
Due to its weak liquidity position, the Subject will be faced with problems
in meeting all its short term obligations if no short term loan is obtained
or additional capital injected into the Subject. 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'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.
|
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : POOR
|
SINGAPORE ECONOMIC / INDUSTRY
OUTLOOK
|
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)
|
|
|
|
|
|
|
(Source : Department of Statistics)
|
|
|
|
|
|
INDUSTRY ANALYSIS
|
INDUSTRY :
|
ECONOMY
|
|
|
|
|
|
|
According to Ministry of Trade and Industry (MTI), the Singapore
economy is expected to grow by 1.0 to 3.0% in 2013 as growth in the global
economy is likely to remain subdued despite macroeconomic conditions stablising in recent months of 2013.
|
|
|
|
However, the global economic outlook is still clouded with
uncertainties. Notably, concerns remain over the extent of the fiscal
cutback with the budget sequester in the US and potential flareup of the debt crisis in the Eurozone.
Should any of these risks materialise,
Singapore's economic growth could come in lower than expected.
|
|
|
|
Although resilient domestic demand in emerging Asia will provide
some support to global demand, it will not fully mitigate the effects of an
economic slowdown in the advanced economies. Consequently, Singapore's
externally-oriented sectors such as electronics and wholesale trade will
continue to perform poorly, while the financial services sector will be
affected by heightened uncertainties in the external environment. Nevertheless,
there will be some modest support to growth from the biomedical
manufacturing cluster and tourism-related sectors. The former will likely
see increased production of active pharmaceutical ingredients and biologics
while the latter will benefit from rising visitor arrivals from the region.
|
|
|
|
For the whole of 2012, Singapore's GDP growth slowed to 1.3%, from
5.2% in 2011, mainly due to weakness in the externally-oriented sectors.
Manufacturing sector growth slowed sharply from 7.8% in the year 2011 to
0.1%. The hudge decline was largely due to a
rebound in the output of the biomedical manufacturing and transport
engineering clusters, which together helped to mitigate part of the fall in
output in the electronics cluster. By contrast, the construction sector
growth accelerated from 6.3% to 8.2% in 2012, due to the expansion in both
public and private building activities.
|
|
|
|
Growth in the services producing industries also moderated to 1.2% in
2012, compared to 4.6% in 2011. This was mainly due to the slowdown in
wholesale and retail trade, accommodation and food services as well as
other services industries. In particular, the wholesale and retail trade
sector contracted by 0.7%, compared to the 1.6% growth in year 2011. The
accommodation and food services as well as other services industries posted
lower gains of 2.8% and 0.1% respectively, compared to 8.2% and 6.3% in
2011.
|
|
|
|
For the whole of 2012, all sectors, except the wholesale and retail
trade, contributed to growth. Business services was the largest contributor
with 0.4 percentage-points, followed by construction with 0.3
percentage-points and transportation and storage at 0.2 percentagepoints.
Besides, growth in total demand moderated to 2.4%, compared to 4.2% in
2011. Domestic demand was the key contributor to total demand growth,
accounting for 2.2 percentage-points, or over 90 per cent, of the increase.
|
|
|
|
In 2012, total domestic demand rose by 9.7%, following the 6.5%
increase in 2011. The growth in total domestic demand was broad-based
across consumption, gross fixed capital formation (GFCF) and changes in
inventories. The total consumption expenditure in 2012 grew slightly by
0.9%, easing from the 3.7% growth in 2011. Public consumption expenditure
fell by 3.6%, reversing the 0.5% growth in 2011. Private consumption
expenditure registered a 2.2% gain, moderating from the 4.6% increase in
the preceding year.
|
|
|
|
Overall, the Singapore economy is expected to grow by 1.0 to 3.0% in
2013.
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH
|
CREDIT RISK EVALUATION &
RECOMMENDATION
|
Incorporated in 2007, the Subject is a Private Limited company, focusing on
other investment holding companies. Having been in business for more than 5
years, the Subject has established a remarkable clientele base for itself
which has contributed to its business growth. Having strong support from
its holding company has enabled the Subject to remain competitive despite
the challenging business environment. Presently, issued and paid up capital
of the Subject stand at USD500,001.
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. Due to its weak liquidity position, the
Subject may face working capital deficiency in meeting its short term
financial obligations if no fresh capital are injected into the Subject.
The high gearing ratio clearly implied that the Subject was supported by
more debt than equity. Thus, the Subject is exposed to high financial risk.
Given a positive net worth standing at USD 3,352,647, 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.
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 condition, we recommend credit be granted to the Subject
normally.
|
|
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
|
|
SKI
INVESTMENTS PTE. LTD.
|
|
Financial Year End
|
2013-03-31
|
|
Months
|
12
|
|
Consolidated Account
|
Company
|
|
Audited Account
|
YES
|
|
Unqualified Auditor's Report (Clean Opinion)
|
YES
|
|
Financial Type
|
FULL
|
|
Currency
|
USD
|
|
|
|
|
TURNOVER
|
3,119,830
|
|
Other Income
|
7,360
|
|
|
----------------
|
|
Total Turnover
|
3,127,190
|
|
|
----------------
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS
|
408,876
|
|
|
----------------
|
|
PROFIT/(LOSS) BEFORE TAXATION
|
408,876
|
|
Taxation
|
(1,100)
|
|
|
----------------
|
|
PROFIT/(LOSS) AFTER TAXATION
|
407,776
|
|
|
----------------
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
As previously reported
|
2,444,870
|
|
|
----------------
|
|
As restated
|
2,444,870
|
|
|
----------------
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS
|
2,852,646
|
|
|
----------------
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD
|
2,852,646
|
|
|
=============
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L)
|
|
|
Term loan / Borrowing
|
3,113,545
|
|
|
----------------
|
|
|
3,113,545
|
|
|
=============
|
BALANCE SHEET
|
SKI
INVESTMENTS PTE. LTD.
|
|
LONG TERM INVESTMENTS/OTHER ASSETS
|
|
|
Subsidiary companies
|
7,119,501
|
|
Associated companies
|
78,501,920
|
|
Others
|
44,120,506
|
|
|
----------------
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS
|
129,741,927
|
|
|
|
|
|
----------------
|
|
TOTAL LONG TERM ASSETS
|
129,741,927
|
|
|
|
|
CURRENT ASSETS
|
|
|
Interest receivable
|
3,141,745
|
|
Amount due from subsidiary companies
|
13,014
|
|
Cash & bank balances
|
87,194
|
|
Others
|
27,988
|
|
|
----------------
|
|
TOTAL CURRENT ASSETS
|
3,269,941
|
|
|
----------------
|
|
TOTAL ASSET
|
133,011,868
|
|
|
=============
|
|
|
|
|
CURRENT LIABILITIES
|
|
|
Other creditors & accruals
|
151,976
|
|
Short term borrowings/Term loans
|
75,000,000
|
|
Amounts owing to holding company
|
6,530,000
|
|
Amounts owing to related companies
|
47,977,245
|
|
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
129,659,221
|
|
|
----------------
|
|
NET CURRENT ASSETS/(LIABILITIES)
|
(126,389,280)
|
|
|
----------------
|
|
TOTAL NET ASSETS
|
3,352,647
|
|
|
=============
|
|
|
|
|
SHARE CAPITAL
|
|
|
Ordinary share capital
|
500,001
|
|
|
----------------
|
|
TOTAL SHARE CAPITAL
|
500,001
|
|
|
|
|
RESERVES
|
|
|
Retained profit/(loss) carried forward
|
2,852,646
|
|
|
----------------
|
|
TOTAL RESERVES
|
2,852,646
|
|
|
|
|
|
----------------
|
|
SHAREHOLDERS' FUNDS/EQUITY
|
3,352,647
|
|
|
|
|
|
----------------
|
|
|
3,352,647
|
|
|
=============
|
|
|
|
FINANCIAL RATIO
|
SKI
INVESTMENTS PTE. LTD.
|
|
TYPES OF FUNDS
|
|
|
Cash
|
87,194
|
|
Net Liquid Funds
|
87,194
|
|
Net Liquid Assets
|
(126,389,280)
|
|
Net Current Assets/(Liabilities)
|
(126,389,280)
|
|
Net Tangible Assets
|
3,352,647
|
|
Net Monetary Assets
|
(126,389,280)
|
|
BALANCE SHEET ITEMS
|
|
|
Total Borrowings
|
75,000,000
|
|
Total Liabilities
|
129,659,221
|
|
Total Assets
|
133,011,868
|
|
Net Assets
|
3,352,647
|
|
Net Assets Backing
|
3,352,647
|
|
Shareholders' Funds
|
3,352,647
|
|
Total Share Capital
|
500,001
|
|
Total Reserves
|
2,852,646
|
|
LIQUIDITY (Times)
|
|
|
Cash Ratio
|
0.00
|
|
Liquid Ratio
|
0.03
|
|
Current Ratio
|
0.03
|
|
WORKING CAPITAL CONTROL (Days)
|
|
|
Stock Ratio
|
0
|
|
Debtors Ratio
|
0
|
|
Creditors Ratio
|
0
|
|
SOLVENCY RATIOS (Times)
|
|
|
Gearing Ratio
|
22.37
|
|
Liabilities Ratio
|
38.67
|
|
Times Interest Earned Ratio
|
1.13
|
|
Assets Backing Ratio
|
6.71
|
|
PERFORMANCE RATIO (%)
|
|
|
Operating Profit Margin
|
13.11
|
|
Net Profit Margin
|
13.07
|
|
Return On Net Assets
|
105.06
|
|
Return On Capital Employed
|
105.06
|
|
Return On Shareholders' Funds/Equity
|
12.16
|
|
Dividend Pay Out Ratio (Times)
|
0.00
|
|
NOTES TO ACCOUNTS
|
|
|
Contingent Liabilities
|
0
|
|