|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MITSUBISHI
CATERPILLAR FORKLIFT ASIA PTE LTD |
|
|
|
|
Registered Office : |
50, Raffles Place, 32-01, Singapore Land Tower, 048623 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
17.06.1992 |
|
|
|
|
Com. Reg. No.: |
199203169-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of machinery and equipment, forklift |
|
|
|
|
No. of Employees |
46 [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 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate 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. |
: |
199203169-H |
|
COMPANY NAME |
: |
MITSUBISHI CATERPILLAR FORKLIFT ASIA PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
17/06/1992 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
50, RAFFLES PLACE, 32-01, SINGAPORE LAND TOWER, 048623, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
1 TUAS WEST STREET, 637444, SINGAPORE. |
|
TEL.NO. |
: |
65-65716237 |
|
FAX.NO. |
: |
65-68977562 |
|
WEB SITE |
: |
WWW.MCFS.COM.SG |
|
CONTACT PERSON |
: |
LIM SIM BENG ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF OTHER MACHINERY AND EQUIPMENT, FORKLIFT |
|
ISSUED AND PAID UP CAPITAL |
: |
5,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD 5,000,000.00 |
|
SALES |
: |
JPY 11,410,203,000 [2013] |
|
NET WORTH |
: |
JPY 2,437,663,000 [2013] |
|
STAFF STRENGTH |
: |
46 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
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 other machinery and equipment, forklift.
The immediate holding company of the Subject is MITSHUBISHI NICHIYU FORKLIFT CO., LTD., a company incorporated in JAPAN.
The ultimate holding company of the Subject is MITSUBISHI HEAVY INDUSTRIES, LTD, a company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
11/06/2014 |
SGD 5,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MITSHUBISHI NICHIYU FORKLIFT CO., LTD. |
1-1, 2-CHOME, HIGASHIKOTARI, NAGAOKAKYO-SHI, KYOTO, 617-8585, JAPAN. |
T07UF4249 |
4,000,000.00 |
80.00 |
|
CATERPILLAR INDUSTRIAL INC |
5960, HEISLEY ROAD MENTOR, OHIO, 44060-1881, USA, UNITED STATES. |
S92UF0427 |
1,000,000.00 |
20.00 |
|
--------------- |
------ |
|||
|
5,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
CHINA |
MCF FORKLIFT (SHANGHAI) CO. LTD. |
100.00 |
31/12/2012 |
|
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
LIM SIM BENG |
|
Address |
: |
688B, CHOA CHU KANG DRIVE, 07-324, 682688, SINGAPORE. |
|
IC / PP No |
: |
S1627828I |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/10/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
SUGAWARA HIROSHI |
|
Address |
: |
33, ROCHESTER DRIVE, 22-08, 138638, SINGAPORE. |
|
IC / PP No |
: |
G5198135P |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/10/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
PAOLO FELLIN |
|
Address |
: |
80, RUE FRANK THOMAS, GENEVE, SWITZERLAND. |
|
IC / PP No |
: |
AA1144596 |
|
Nationality |
: |
ITALIAN |
|
Date of Appointment |
: |
09/06/2009 |
DIRECTOR 4
|
Name Of Subject |
: |
SEIHO ONOE |
|
Address |
: |
202, KIM SENG ROAD, 18-06, THE COSMOPOLITAN, 239496, SINGAPORE. |
|
IC / PP No |
: |
F2342501R |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2014 |
DIRECTOR 5
|
Name Of Subject |
: |
HITOSHI MATSUMOTO |
|
Address |
: |
201, ESLEAD DAIGO, 25-5, DAIGONAKAYAMA FUSHIMI, KYOTO, JAPAN. |
|
IC / PP No |
: |
TK9033617 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/04/2014 |
|
1) |
Name of Subject |
: |
LIM SIM BENG |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
SUGAWARA HIROSHI |
|
Position |
: |
MANAGING DIRECTOR |
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
LYNN WAN TIEW LENG |
|
IC / PP No |
: |
S1306315Z |
|
|
Address |
: |
32, LORONG MYDIN, 14-06, ASTORIA PARK, 416826, SINGAPORE. |
|
No Banker found in our databank.
ENCUMBRANCE (S) |
No encumbrance was found in our databank at the time of investigation.
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.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE |
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS |
|
Goods Traded |
: |
FORKLIFT |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
46 |
46 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of other machinery
and equipment, forklift.
The Subject supplies construction machineries.
The Subject also provides repair and maintenance services.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65716237 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
NO.1, TUAS WEST STREET, SINGAPORE-637444 |
|
Current Address |
: |
1 TUAS WEST STREET, 637444, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
we contacted one of the staff from the Subject and she provided some
information.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
20.51% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
24.33% |
] |
|
|
The Subject's turnover increased steadily as the demand for its products / services increased due to the goodwill built up over the years.The Subject's management have been efficient in controlling its operating costs. The Subject's management had generated acceptable return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
17 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
111 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
60 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 debtors ratio was high. The Subject should tighten its credit control and improve its collection period. 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 |
[ |
1.38 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.52 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 |
: |
Favourable |
[ |
73.73 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.03 Times |
] |
|
|
The interest cover showed that the Subject was able to service the interest. The favourable interest cover could indicate that the Subject was making enough profit to pay for the interest accrued. The Subject was lowly geared thus it had a low financial risk. The Subject was mainly financed by its shareholders' funds and internally generated funds. In times of economic slowdown / downturn, the Subject being a lowly geared company, will be able to compete better than those companies 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. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. 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 : STRONG |
||||||
|
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 ANALYSIS |
|
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 |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
MITSUBISHI CATERPILLAR FORKLIFT ASIA PTE LTD |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
JPY |
JPY |
JPY |
|
TURNOVER |
11,410,203,000 |
10,916,654,000 |
10,513,222,000 |
|
Other Income |
10,755,000 |
8,284,000 |
4,327,000 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
11,420,958,000 |
10,924,938,000 |
10,517,549,000 |
|
Costs of Goods Sold |
(10,051,614,000) |
(9,746,482,000) |
(9,536,088,000) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
1,369,344,000 |
1,178,456,000 |
981,461,000 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
600,730,000 |
507,706,000 |
307,594,000 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
600,730,000 |
507,706,000 |
307,594,000 |
|
Taxation |
(100,839,000) |
(75,920,000) |
(52,165,000) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
499,891,000 |
431,786,000 |
255,429,000 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
1,601,833,000 |
1,211,795,000 |
998,996,000 |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,601,833,000 |
1,211,795,000 |
998,996,000 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,101,724,000 |
1,643,581,000 |
1,254,425,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(80,877,000) |
(41,748,000) |
(42,630,000) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,020,847,000 |
1,601,833,000 |
1,211,795,000 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Others |
8,260,000 |
6,272,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
8,260,000 |
6,272,000 |
- |
|
|
============= |
============= |
|
BALANCE SHEET |
|
MITSUBISHI CATERPILLAR FORKLIFT ASIA PTE LTD |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
484,245,000 |
499,944,000 |
555,924,000 |
|
Others |
4,763,000 |
18,865,000 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
4,763,000 |
18,865,000 |
- |
|
INTANGIBLE ASSETS |
|||
|
Deferred/Expenditure carried forward |
- |
- |
30,730,000 |
|
Others |
27,341,000 |
30,700,000 |
30,269,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
27,341,000 |
30,700,000 |
60,999,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
516,349,000 |
549,509,000 |
616,923,000 |
|
Stocks |
519,995,000 |
535,433,000 |
451,331,000 |
|
Trade debtors |
3,479,305,000 |
3,407,825,000 |
3,785,433,000 |
|
Other debtors, deposits & prepayments |
6,711,000 |
8,579,000 |
6,246,000 |
|
Amount due from holding company |
3,514,000 |
3,552,000 |
1,613,000 |
|
Amount due from related companies |
23,777,000 |
5,977,000 |
61,000 |
|
Cash & bank balances |
1,774,952,000 |
1,063,309,000 |
647,671,000 |
|
Others |
8,245,000 |
5,919,000 |
6,381,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
5,816,499,000 |
5,030,594,000 |
4,898,736,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,332,848,000 |
5,580,103,000 |
5,515,659,000 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
1,664,563,000 |
1,091,381,000 |
3,621,070,000 |
|
Other creditors & accruals |
162,253,000 |
99,632,000 |
112,988,000 |
|
Short term borrowings/Term loans |
67,935,000 |
541,870,000 |
- |
|
Deposits from customers |
- |
- |
40,223,000 |
|
Amounts owing to holding company |
446,517,000 |
933,589,000 |
- |
|
Amounts owing to related companies |
1,321,010,000 |
692,973,000 |
2,384,000 |
|
Provision for taxation |
86,073,000 |
82,647,000 |
61,603,000 |
|
Lease payables |
- |
- |
62,000 |
|
Other liabilities |
81,333,000 |
79,482,000 |
21,219,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
3,829,684,000 |
3,521,574,000 |
3,859,549,000 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,986,815,000 |
1,509,020,000 |
1,039,187,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,503,164,000 |
2,058,529,000 |
1,656,110,000 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
385,000,000 |
385,000,000 |
385,000,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
385,000,000 |
385,000,000 |
385,000,000 |
|
Exchange equalisation/fluctuation reserve |
31,816,000 |
11,231,000 |
5,468,000 |
|
Retained profit/(loss) carried forward |
2,020,847,000 |
1,601,833,000 |
1,211,795,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
2,052,663,000 |
1,613,064,000 |
1,217,263,000 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,437,663,000 |
1,998,064,000 |
1,602,263,000 |
|
Deferred taxation |
12,796,000 |
16,015,000 |
21,747,000 |
|
Retirement benefits provision |
52,705,000 |
44,450,000 |
32,100,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
65,501,000 |
60,465,000 |
53,847,000 |
|
---------------- |
---------------- |
---------------- |
|
|
2,503,164,000 |
2,058,529,000 |
1,656,110,000 |
|
|
============= |
============= |
============= |
|
|
MITSUBISHI CATERPILLAR FORKLIFT ASIA PTE LTD |
|
TYPES OF FUNDS |
|||
|
Cash |
1,774,952,000 |
1,063,309,000 |
647,671,000 |
|
Net Liquid Funds |
1,774,952,000 |
1,063,309,000 |
647,671,000 |
|
Net Liquid Assets |
1,466,820,000 |
973,587,000 |
587,856,000 |
|
Net Current Assets/(Liabilities) |
1,986,815,000 |
1,509,020,000 |
1,039,187,000 |
|
Net Tangible Assets |
2,475,823,000 |
2,027,829,000 |
1,595,111,000 |
|
Net Monetary Assets |
1,401,319,000 |
913,122,000 |
534,009,000 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
67,935,000 |
541,870,000 |
0 |
|
Total Liabilities |
3,895,185,000 |
3,582,039,000 |
3,913,396,000 |
|
Total Assets |
6,332,848,000 |
5,580,103,000 |
5,515,659,000 |
|
Net Assets |
2,503,164,000 |
2,058,529,000 |
1,656,110,000 |
|
Net Assets Backing |
2,437,663,000 |
1,998,064,000 |
1,602,263,000 |
|
Shareholders' Funds |
2,437,663,000 |
1,998,064,000 |
1,602,263,000 |
|
Total Share Capital |
385,000,000 |
385,000,000 |
385,000,000 |
|
Total Reserves |
2,052,663,000 |
1,613,064,000 |
1,217,263,000 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.46 |
0.30 |
0.17 |
|
Liquid Ratio |
1.38 |
1.28 |
1.15 |
|
Current Ratio |
1.52 |
1.43 |
1.27 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
17 |
18 |
16 |
|
Debtors Ratio |
111 |
114 |
131 |
|
Creditors Ratio |
60 |
41 |
139 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.03 |
0.27 |
0.00 |
|
Liabilities Ratio |
1.60 |
1.79 |
2.44 |
|
Times Interest Earned Ratio |
73.73 |
81.95 |
0.00 |
|
Assets Backing Ratio |
6.43 |
5.27 |
4.14 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
5.26 |
4.65 |
2.93 |
|
Net Profit Margin |
4.38 |
3.96 |
2.43 |
|
Return On Net Assets |
24.33 |
24.97 |
18.57 |
|
Return On Capital Employed |
24.07 |
24.60 |
17.91 |
|
Return On Shareholders' Funds/Equity |
20.51 |
21.61 |
15.94 |
|
Dividend Pay Out Ratio (Times) |
0.16 |
0.10 |
0.17 |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIS |
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.