|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
WILLIAMS-SONOMA SINGAPORE PTE. LTD. |
|
|
|
|
Registered Office : |
70, Anson Road, 25-01, Hub Synergy Point, 079905 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
03.02.2013 |
|
|
|
|
Date of Incorporation : |
04.11.2008 |
|
|
|
|
Com. Reg. No.: |
200821051-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of High Quality Home Appliances |
|
|
|
|
No. of Employees : |
45 [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. |
: |
200821051-N |
|
COMPANY NAME |
: |
WILLIAMS-SONOMA SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
04/11/2008 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
70, ANSON ROAD, 25-01, HUB SYNERGY POINT, 079905, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
70 ANSON ROAD, 25-01, HUB SYNERGY POINT, 079905, SINGAPORE. |
|
TEL.NO. |
: |
65-62263235 |
|
FAX.NO. |
: |
65-62263832 |
|
WEB SITE |
: |
WWW.WILLIAMS-SONOMAINC.COM |
|
CONTACT PERSON |
: |
JULIE PATENAUDE WHALEN ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF HIGH QUALITY HOME APPLIANCES |
|
ISSUED AND PAID UP CAPITAL |
: |
500,000.00 ORDINARY SHARE, OF A VALUE OF USD 5,000,000.00 |
|
SALES |
: |
USD 111,582,853 [2013] |
|
NET WORTH |
: |
USD 10,047,297 [2013] |
|
STAFF STRENGTH |
: |
45 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STABLE |
|
PAYMENT |
: |
FAIR |
|
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) trading of high
quality home appliances.
The immediate holding company of the Subject is WILLIAMS-SONOMA JERSEY 2
I.L.P., a company incorporated in JERSEY.
The ultimate holding company of the Subject is WILLIAMS-SONOMA INC, a
company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
30/05/2014 |
USD 5,000,000.00 & SGD 1.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
WILLIAMS-SONOMA JERSEY 2 I.L.P. |
38, ESPLANADE, ST HELIER, JE1, 4TR, JERSEY. |
T12UF0277 |
500,001.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,001.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
VIETNAM |
WILLIAMS-SONOMAS VIETNAM LLC |
100.00 |
03/02/2013 |
|
|
CHINA |
WILLIAMS-SONOMA TECHNICAL SERVICES DONGGUAN CO. LTD. |
100.00 |
03/02/2013 |
|
|
201012341Z |
SINGAPORE |
W-S ADMINISTRATIVE SERVICES PTE. LTD. |
100.00 |
03/02/2013 |
|
INDIA |
WILLIAMS-SONOMA INDIA PRIVATE LIMITED |
99.90 |
03/02/2013 |
|
DIRECTOR 1
|
Name Of Subject |
: |
JULIE PATENAUDE WHALEN |
|
Address |
: |
134, LOS TRANCOS CIRCLE, PORTOLA VALLEY, CA, 94028, UNITED STATES. |
|
IC / PP No |
: |
495234927 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
13/10/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
ELIZABETH ANN THOMPSON |
|
Address |
: |
3, ANTHONY ROAD 11-05, ORCHARD SCOTTS, 229953, SINGAPORE. |
|
IC / PP No |
: |
G5250346P |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
13/06/2013 |
|
1) |
Name of Subject |
: |
JULIE PATENAUDE WHALEN |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
6, SHENTON WAY 32- 00, DBS BUILDING, 068809, SINGAPORE |
|
1) |
Company Secretary |
: |
ANTHONY ANNE CATHARINE |
|
IC / PP No |
: |
S1347717E |
|
|
Address |
: |
8, LORONG 29, GEYLANG, 07-06, 388064, 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 |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
X |
] |
Poor >120 Days |
[ |
] |
||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
HIGH QUALITY HOME APPLIANCES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
45 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of high
quality home appliances.
The Subject is engaged in retail company that sells kitchenwares, furniture and
linens, as well as other housewares and home furnishings, along with a variety
of specialty foods, soaps and lotions.
The Subject's products are available to customers through their catalogs and online
worldwide.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62263235 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
70 ANSON ROAD 25-01 HUB SYNERGY POINT SINGAPORE 079905 |
|
Current Address |
: |
70 ANSON ROAD, 25-01, HUB SYNERGY POINT, 079905, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 28th May 2014, we contacted one of the Subject's staff and she provided some
information.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
15.56% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
18.64% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
higher profit could be attributed to the increase in turnover. The Subject's
management had generated acceptable return for its shareholders using its
assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
4 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
36 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
97 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 unfavourable creditors' ratio could be due to the Subject taking
advantage of the credit granted by its suppliers. However this may affect the
goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.29 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.35 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any interest
during the year. 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 did not make any interest payment during the year. The Subject was
dependent on its shareholders' funds to finance its business needs. 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 : STABLE |
||||||
|
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 |
2013-02-03 |
2012-01-29 |
2011-01-30 |
2010-01-31 |
|
Months |
13 |
12 |
12 |
15 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
111,582,853 |
46,056,763 |
24,298,998 |
9,075,633 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
111,582,853 |
46,056,763 |
24,298,998 |
9,075,633 |
|
Costs of Goods Sold |
(38,859,912) |
(32,892,485) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
72,722,941 |
13,164,278 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,874,299 |
1,165,335 |
2,074,595 |
492,503 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,874,299 |
1,165,335 |
2,074,595 |
492,503 |
|
Taxation |
(311,100) |
(102,004) |
(80,774) |
(65,558) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,563,199 |
1,063,331 |
1,993,821 |
426,945 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
3,484,097 |
2,420,766 |
426,945 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
3,484,097 |
2,420,766 |
426,945 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
5,047,296 |
3,484,097 |
2,420,766 |
426,945 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
5,047,296 |
3,484,097 |
2,420,766 |
426,945 |
|
============= |
============= |
============= |
============= |
|
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
576,868 |
412,539 |
261,628 |
48,934 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||||
|
Subsidiary companies |
2,701,679 |
700,001 |
1 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
2,701,679 |
700,001 |
1 |
- |
|
Intellectual property and license rights |
75,000 |
100,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
75,000 |
100,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
3,353,547 |
1,212,540 |
261,629 |
48,934 |
|
Stocks |
1,090,934 |
721,872 |
413,200 |
282,776 |
|
Trade debtors |
11,047,240 |
3,916,536 |
3,086,517 |
5,039,402 |
|
Other debtors, deposits & prepayments |
262,014 |
498,396 |
2,287,900 |
131,709 |
|
Amount due from holding company |
6,996,314 |
- |
1,709,116 |
- |
|
Amount due from subsidiary companies |
762,551 |
3,091,478 |
- |
- |
|
Amount due from related companies |
- |
3,426,065 |
- |
- |
|
Cash & bank balances |
5,869,577 |
8,399,733 |
5,331,311 |
1,381,912 |
|
Others |
- |
- |
- |
1,219,134 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
26,028,630 |
20,054,080 |
12,828,044 |
8,054,933 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
29,382,177 |
21,266,620 |
13,089,673 |
8,103,867 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
10,345,371 |
5,268,209 |
3,753,509 |
4,211,886 |
|
Other creditors & accruals |
2,207,730 |
1,536,814 |
1,130,920 |
74,669 |
|
Other liabilities & accruals |
- |
- |
- |
756,052 |
|
Amounts owing to holding company |
- |
6,472,738 |
4,807,243 |
- |
|
Amounts owing to related companies |
6,416,665 |
4,363,999 |
880,016 |
- |
|
Provision for taxation |
358,978 |
134,626 |
91,082 |
59,422 |
|
Other liabilities |
- |
- |
- |
2,568,756 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
19,328,744 |
17,776,386 |
10,662,770 |
7,670,785 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
6,699,886 |
2,277,694 |
2,165,274 |
384,148 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
10,053,433 |
3,490,234 |
2,426,903 |
433,082 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
5,000,001 |
1 |
1 |
1 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,000,001 |
1 |
1 |
1 |
|
Retained profit/(loss) carried forward |
5,047,296 |
3,484,097 |
2,420,766 |
426,945 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
5,047,296 |
3,484,097 |
2,420,766 |
426,945 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
10,047,297 |
3,484,098 |
2,420,767 |
426,946 |
|
Deferred taxation |
6,136 |
6,136 |
6,136 |
6,136 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
6,136 |
6,136 |
6,136 |
6,136 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
10,053,433 |
3,490,234 |
2,426,903 |
433,082 |
|
|
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
||||
|
Cash |
5,869,577 |
8,399,733 |
5,331,311 |
1,381,912 |
|
Net Liquid Funds |
5,869,577 |
8,399,733 |
5,331,311 |
1,381,912 |
|
Net Liquid Assets |
5,608,952 |
1,555,822 |
1,752,074 |
101,372 |
|
Net Current Assets/(Liabilities) |
6,699,886 |
2,277,694 |
2,165,274 |
384,148 |
|
Net Tangible Assets |
9,978,433 |
3,390,234 |
2,426,903 |
433,082 |
|
Net Monetary Assets |
5,602,816 |
1,549,686 |
1,745,938 |
95,236 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
|
Total Liabilities |
19,334,880 |
17,782,522 |
10,668,906 |
7,676,921 |
|
Total Assets |
29,382,177 |
21,266,620 |
13,089,673 |
8,103,867 |
|
Net Assets |
10,053,433 |
3,490,234 |
2,426,903 |
433,082 |
|
Net Assets Backing |
10,047,297 |
3,484,098 |
2,420,767 |
426,946 |
|
Shareholders' Funds |
10,047,297 |
3,484,098 |
2,420,767 |
426,946 |
|
Total Share Capital |
5,000,001 |
1 |
1 |
1 |
|
Total Reserves |
5,047,296 |
3,484,097 |
2,420,766 |
426,945 |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.30 |
0.47 |
0.50 |
0.18 |
|
Liquid Ratio |
1.29 |
1.09 |
1.16 |
1.01 |
|
Current Ratio |
1.35 |
1.13 |
1.20 |
1.05 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
4 |
6 |
6 |
11 |
|
Debtors Ratio |
36 |
31 |
46 |
203 |
|
Creditors Ratio |
97 |
58 |
56 |
169 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
1.92 |
5.10 |
4.41 |
17.98 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
2.00 |
3,390,234.00 |
2,426,903.00 |
433,082.00 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
1.68 |
2.53 |
8.54 |
5.43 |
|
Net Profit Margin |
1.40 |
2.31 |
8.21 |
4.70 |
|
Return On Net Assets |
18.64 |
33.39 |
85.48 |
113.72 |
|
Return On Capital Employed |
18.51 |
32.46 |
85.48 |
113.72 |
|
Return On Shareholders' Funds/Equity |
15.56 |
30.52 |
82.36 |
100.00 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.14 |
|
|
1 |
Rs.99.02 |
|
Euro |
1 |
Rs.80.63 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.