|
Report Date : |
18.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
O S ELECTRONICS (S) PTE LTD |
|
|
|
|
Registered Office : |
33, Tannery Lane, 05-01, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
16.05.1990 |
|
|
|
|
Com. Reg. No.: |
199002317-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Electronic Components |
|
|
|
|
No. of Employees : |
16 [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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
199002317-H |
|
COMPANY NAME |
: |
O S ELECTRONICS (S) PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
16/05/1990 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
33, TANNERY LANE, 05-01, HOESTEEL INDUSTRIAL BUILDING, 347789,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
33 TANNERY LANE #05-01 HOESTEEL INDUSTRIAL BUILDING, 347789,
SINGAPORE. |
|
TEL.NO. |
: |
65-67467770 |
|
FAX.NO. |
: |
65-67463500 |
|
CONTACT PERSON |
: |
SHINICHIRO WADA ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF ELECTRONIC COMPONENTS |
|
ISSUED AND PAID UP CAPITAL |
: |
620,000.00 ORDINARY SHARE, OF A VALUE OF SGD 620,000.00 |
|
SALES |
: |
USD 87,681,710 [2013] |
|
NET WORTH |
: |
USD 15,108,797 [2013] |
|
STAFF STRENGTH |
: |
16 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL 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) wholesale of
electronic components.
The immediate and ultimate holding company of the Subject is O S
ELECTRONICS CO., LTD, a company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
16/07/2014 |
SGD 620,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
O S ELECTRONICS CO., LTD |
AKIHABARA SANWA TOYO BUILDNIG, 5F, 3-16-8, SOTOKANDA, CHIYODA-KU,
TOKYO, 101-0021, JAPAN. |
T07UF0150 |
620,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
620,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
SHINICHIRO WADA |
|
Address |
: |
20, NEWTON ROAD, 16-06, AMARYLLIS VILLE, 307953, SINGAPORE. |
|
IC / PP No |
: |
G5146875P |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
10/07/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
KATSUNORI TAKIZAWA |
|
Address |
: |
9, SIN MING WALK, 20-07, THE GARDENS AT BISHAN, 575578, SINGAPORE. |
|
IC / PP No |
: |
S7485136C |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/04/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
TOSHIKI MIZOGUCHI |
|
Address |
: |
2-13-30-815, HIGASHI NAKAYAMA, FUNABASHI-SHI, CHIBA, 273-0036, JAPAN. |
|
IC / PP No |
: |
TF8938943 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/12/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
SHINICHIRO WADA |
|
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
K K CHUA & CO |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
1) |
Company Secretary |
: |
TEH KWANG HWEE |
|
|
IC / PP No |
: |
S1153921A |
|
|
|
|
|
|
|
Address |
: |
74, TELOK BLANGAH HEIGHTS, 05-305, 100074, 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 |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded |
: |
ELECTRONIC COMPONENTS
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
16 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
electronic components.
The Subject is engaged in the trading of electronic components.
The Subject is also able to source the required components for its customers.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6567467770 / 6591199337 |
|
Current Telephone Number |
: |
65-67467770 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
33 TANNERY LANE # 05-01 HOESTEEL INDUSTRIAL BUILDING SINGAPORE 347789 |
|
Current Address |
: |
33 TANNERY LANE #05-01 HOESTEEL INDUSTRIAL BUILDING, 347789,
SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 11th July 2014 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
32.82% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
268.05% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
1.42% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
2.08% |
] |
|
|
|
|
|
|
|
|
|
|
The increase in turnover could be due to the Subject adopting an
aggressive marketing strategy.The higher profit could be attributed to the increase
in turnover. The unfavourable return on shareholders' funds could indicate
that the Subject was inefficient in utilising its assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
33 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
59 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
43 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The Subject's management was quite
efficient in handling its debtors. The Subject's debtors days were at an
acceptable range, thus the risk of its debts turning bad was minimised. 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 |
[ |
1.69 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.50 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 |
[ |
3.08 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 : |
|
|
|
|
|
|
|
Generally, the Subject's performance has improved with higher 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 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 : FAIR |
||||||
|
Major Economic
Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
INDUSTRY : |
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 |
|
|
|
|
|
|
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 |
|
|
|
|
|
TURNOVER |
87,681,710 |
66,016,554 |
|
Other Income |
16,172 |
40,356 |
|
|
---------------- |
---------------- |
|
Total Turnover |
87,697,882 |
66,056,910 |
|
Costs of Goods Sold |
(84,004,272) |
(63,002,605) |
|
|
---------------- |
---------------- |
|
Gross Profit |
3,693,610 |
3,054,305 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
212,753 |
57,805 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
212,753 |
57,805 |
|
Taxation |
1,045 |
4,155 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
213,798 |
61,960 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
15,513,787 |
15,938,178 |
|
|
---------------- |
---------------- |
|
As restated |
15,513,787 |
15,938,178 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
15,727,585 |
16,000,138 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(1,004,192) |
(486,351) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
14,723,393 |
15,513,787 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Bank overdraft |
19 |
- |
|
Others |
102,244 |
19,255 |
|
|
---------------- |
---------------- |
|
|
102,263 |
19,255 |
|
|
============= |
============= |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
282,482 |
190,460 |
|
|
|
|
|
Others |
185,407 |
185,407 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
185,407 |
185,407 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
467,889 |
375,867 |
|
|
|
|
|
Stocks |
7,902,598 |
5,531,043 |
|
Trade debtors |
14,217,460 |
11,246,175 |
|
Cash & bank balances |
2,309,327 |
8,645,552 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
24,429,385 |
25,422,770 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
24,897,274 |
25,798,637 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
9,788,477 |
9,899,446 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
9,788,477 |
9,899,446 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
14,640,908 |
15,523,324 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
15,108,797 |
15,899,191 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
385,404 |
385,404 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
385,404 |
385,404 |
|
|
|
|
|
Retained profit/(loss) carried forward |
14,723,393 |
15,513,787 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
14,723,393 |
15,513,787 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
15,108,797 |
15,899,191 |
|
|
|
|
|
|
---------------- |
---------------- |
|
|
15,108,797 |
15,899,191 |
|
|
============= |
============= |
|
|
|
|
|
TYPES OF FUNDS |
|
|
|
Cash |
2,309,327 |
8,645,552 |
|
Net Liquid Funds |
2,309,327 |
8,645,552 |
|
Net Liquid Assets |
6,738,310 |
9,992,281 |
|
Net Current Assets/(Liabilities) |
14,640,908 |
15,523,324 |
|
Net Tangible Assets |
15,108,797 |
15,899,191 |
|
Net Monetary Assets |
6,738,310 |
9,992,281 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
9,788,477 |
9,899,446 |
|
Total Assets |
24,897,274 |
25,798,637 |
|
Net Assets |
15,108,797 |
15,899,191 |
|
Net Assets Backing |
15,108,797 |
15,899,191 |
|
Shareholders' Funds |
15,108,797 |
15,899,191 |
|
Total Share Capital |
385,404 |
385,404 |
|
Total Reserves |
14,723,393 |
15,513,787 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.24 |
0.87 |
|
Liquid Ratio |
1.69 |
2.01 |
|
Current Ratio |
2.50 |
2.57 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
33 |
31 |
|
Debtors Ratio |
59 |
62 |
|
Creditors Ratio |
43 |
57 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.65 |
0.62 |
|
Times Interest Earned Ratio |
3.08 |
4.00 |
|
Assets Backing Ratio |
39.20 |
41.25 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
0.24 |
0.09 |
|
Net Profit Margin |
0.24 |
0.09 |
|
Return On Net Assets |
2.08 |
0.48 |
|
Return On Capital Employed |
2.08 |
0.48 |
|
Return On Shareholders' Funds/Equity |
1.42 |
0.39 |
|
Dividend Pay Out Ratio (Times) |
4.70 |
7.85 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
|
1 |
Rs.103.00 |
|
Euro |
1 |
Rs.81.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.