|
Report Date : |
26.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MITSUI PHENOLS |
|
|
|
|
Formerly Known As : |
MITSUI PHENOL |
|
|
|
|
Registered Office : |
3, Harbourfront Place, 10-01, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
15.04.1999 |
|
|
|
|
Com. Reg. No.: |
199901873-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Additives for Mineral Oil |
|
|
|
|
No. of Employees |
150 |
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 : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
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. 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. |
: |
199901873-K |
|
COMPANY NAME |
: |
MITSUI PHENOLS SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
MITSUI PHENOL SINGAPORE PTE. LTD. (01/01/2006) |
|
INCORPORATION DATE |
: |
15/04/1999 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
3, HARBOURFRONT PLACE, 10-01, HARBOURFRONT TOWER TWO, 099254,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
101 SAKRA AVEVNUE, 627888, SINGAPORE. |
|
TEL.NO. |
: |
65-65340537 |
|
FAX.NO. |
: |
65-65344509 |
|
CONTACT PERSON |
: |
TAKAYUKI SHIGA ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF ADDITIVES FOR MINERAL OIL |
|
ISSUED AND PAID UP CAPITAL |
: |
108,000,000.00 ORDINARY SHARE, OF A VALUE OF USD 119,965,111.60 |
|
SALES |
: |
USD 835,133,158 [2013] |
|
NET WORTH |
: |
USD 223,182,982 [2013] |
|
STAFF STRENGTH |
: |
150 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
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
of additives for mineral oil.
The immediate holding company of the Subject is MITSUI CHEMICALS
INCORPORATION, a company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
22/07/2014 |
USD 119,965,111.60 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MITSUI CHEMICALS INCORPORATION |
SHIDOME CITY CENTER, 1-5-2, HIGASHI-SHIMBASHI, MINATO-KU, TOKYO,
105-7117, JAPAN. |
T03UF0448 |
102,600,000.00 |
95.00 |
|
MITSUI & CO., LTD. |
2-1, OHTEMACHI 1-CHOME CHIYODA-KU, TOKYO, 100-0004, JAPAN. |
TH9118453 |
5,400,000.00 |
5.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
108,000,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
KEIJI SHITE |
|
Address |
: |
1-23-17-1205, EBISU, SHIBUYA-KU, TOKYO, 150-0013, JAPAN. |
|
IC / PP No |
: |
TH9118453 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/05/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
YUJI FUKUYAMA |
|
Address |
: |
2-7-28,TAKAYANGI, KISARAZU, CHIBA, JAPAN. |
|
IC / PP No |
: |
TH5716767 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2012 |
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MASAAKI HIGASHI |
|
Address |
: |
3, HARBOURFRONT PLACE, 10-01, HARBOURFRONT TOWER 2, 099254, SINGAPORE. |
|
IC / PP No |
: |
G3030819R |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2014 |
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
YASUSHI NAWA |
|
Address |
: |
3, HARBOURFRONT PLACE, 10-01, HARBOURFRONT TOWER TWO, 099254,
SINGAPORE. |
|
IC / PP No |
: |
G5954943Q |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2012 |
|
1) |
Name of Subject |
: |
MASAAKI HIGASHI |
|
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
|
|
|
2) |
Name of Subject |
: |
TAKAYUKI SHIGA |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
MIYOKO UENO |
|
|
IC / PP No |
: |
S2206586F |
|
|
Address |
: |
512, UPPER EAST COAST ROAD, 466537, SINGAPORE. |
|
|
|
|
|
|
2) |
Company Secretary |
: |
ABDUL JABBAR BIN KARAM DIN |
|
|
IC / PP No |
: |
6936625B |
|
|
Address |
: |
21, SIGLAP HILL, FRANKEL ESTATE, 456076, 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 |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
150 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of
additives for mineral oil.
The Subject's main line of business is to manufacture and sell phenol, bisphenol-A
and acetone.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65340537 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
101 SAKRA AVE 627888 SINGAPORE |
|
Current Address |
: |
101 SAKRA AVEVNUE, 627888, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 18th July 2014 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
|
|
|
|
|
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(16.11%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(18.28%) |
] |
|
|
|
|
|
|
|
|
|
|
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 |
: |
Favourable |
[ |
32 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
26 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
3 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
The Subject had a favourable creditors' ratio where the Subject could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.40 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.39 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 |
: |
Unfavourable |
[ |
(159.40 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.01 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject incurred losses in the year. It did not generate
sufficient income to service its interest. If the situation does not
improve, the Subject may be vulnerable to default in servicing the interest.
The Subject had no gearing and hence it had virtually no financial risk. The
Subject was financed by its shareholders' funds and internally generated
fund. During the economic downturn, the Subject, having a zero gearing, will
be able to compete better than those which are highly geared in the same
industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject was in good liquidity position with its total current
liabilities well covered by its total current assets. With its current net
assets, the Subject should be able to repay its short term obligations. The
Subject's interest cover was negative, indicating that it did not generate
sufficient income to service its interest. If its result does not show impressive
improvements or succeed obtaining short term financing or capital injection,
it may not be able to service its interest and repay the loans. 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 : |
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) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
|
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%. |
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : MATURE |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
MITSUI PHENOLS SINGAPORE PTE. LTD. |
|
Financial Year End |
2013-03-31 |
2011-12-31 |
|
Months |
15 |
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 |
835,133,158 |
738,855,654 |
|
|
---------------- |
---------------- |
|
Total Turnover |
835,133,158 |
738,855,654 |
|
Costs of Goods Sold |
(868,578,384) |
(721,461,622) |
|
|
---------------- |
---------------- |
|
Gross Profit |
(33,445,226) |
17,394,032 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(42,073,680) |
10,868,250 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(42,073,680) |
10,868,250 |
|
Taxation |
6,118,539 |
(662,598) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(35,955,141) |
10,205,652 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
183,173,011 |
223,967,359 |
|
|
---------------- |
---------------- |
|
As restated |
183,173,011 |
223,967,359 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
147,217,870 |
234,173,011 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(44,000,000) |
(51,000,000) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
103,217,870 |
183,173,011 |
|
|
============= |
============= |
|
|
|
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
|
Others |
262,308 |
197,875 |
|
|
---------------- |
---------------- |
|
|
262,308 |
197,875 |
|
|
============= |
============= |
|
MITSUI PHENOLS SINGAPORE PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
125,496,420 |
151,042,055 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
125,496,420 |
151,042,055 |
|
|
|
|
|
Stocks |
73,561,512 |
46,102,850 |
|
Trade debtors |
58,805,874 |
42,731,481 |
|
Other debtors, deposits & prepayments |
4,789,127 |
1,705,271 |
|
Short term deposits |
- |
106,659,281 |
|
Amount due from holding company |
77,221 |
35,504 |
|
Amount due from related companies |
39,517,158 |
17,450,925 |
|
Cash & bank balances |
954,451 |
936,410 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
177,705,343 |
215,621,722 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
303,201,763 |
366,663,777 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
7,417,584 |
9,015,683 |
|
Other creditors & accruals |
60,592,560 |
35,486,687 |
|
Short term borrowings/Term loans |
1,900,000 |
- |
|
Amounts owing to holding company |
479,504 |
1,342,938 |
|
Amounts owing to subsidiary companies |
166,994 |
206,231 |
|
Amounts owing to related companies |
3,899,298 |
6,003,704 |
|
Provision for taxation |
34,690 |
97,116 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
74,490,630 |
52,152,359 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
103,214,713 |
163,469,363 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
228,711,133 |
314,511,418 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
119,965,112 |
119,965,112 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
119,965,112 |
119,965,112 |
|
|
|
|
|
Retained profit/(loss) carried forward |
103,217,870 |
183,173,011 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
103,217,870 |
183,173,011 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
223,182,982 |
303,138,123 |
|
|
|
|
|
Deferred taxation |
5,528,151 |
11,373,295 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
5,528,151 |
11,373,295 |
|
|
---------------- |
---------------- |
|
|
228,711,133 |
314,511,418 |
|
|
============= |
============= |
|
|
|
|
|
MITSUI PHENOLS SINGAPORE PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
954,451 |
107,595,691 |
|
Net Liquid Funds |
954,451 |
107,595,691 |
|
Net Liquid Assets |
29,653,201 |
117,366,513 |
|
Net Current Assets/(Liabilities) |
103,214,713 |
163,469,363 |
|
Net Tangible Assets |
228,711,133 |
314,511,418 |
|
Net Monetary Assets |
24,125,050 |
105,993,218 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
1,900,000 |
0 |
|
Total Liabilities |
80,018,781 |
63,525,654 |
|
Total Assets |
303,201,763 |
366,663,777 |
|
Net Assets |
228,711,133 |
314,511,418 |
|
Net Assets Backing |
223,182,982 |
303,138,123 |
|
Shareholders' Funds |
223,182,982 |
303,138,123 |
|
Total Share Capital |
119,965,112 |
119,965,112 |
|
Total Reserves |
103,217,870 |
183,173,011 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.01 |
2.06 |
|
Liquid Ratio |
1.40 |
3.25 |
|
Current Ratio |
2.39 |
4.13 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
32 |
23 |
|
Debtors Ratio |
26 |
21 |
|
Creditors Ratio |
3 |
5 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.01 |
0.00 |
|
Liabilities Ratio |
0.36 |
0.21 |
|
Times Interest Earned Ratio |
(159.40) |
55.92 |
|
Assets Backing Ratio |
1.91 |
2.62 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
(5.04) |
1.47 |
|
Net Profit Margin |
(4.31) |
1.38 |
|
Return On Net Assets |
(18.28) |
3.52 |
|
Return On Capital Employed |
(18.28) |
3.52 |
|
Return On Shareholders' Funds/Equity |
(16.11) |
3.37 |
|
Dividend Pay Out Ratio (Times) |
1.22 |
5.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
UK Pound |
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.