|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIZER METALS PTE.
LTD. |
|
|
|
|
Registered Office : |
6, Eu Tong Sen Street, 10-03, The Central, 059817 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
09.06.2009 |
|
|
|
|
Com. Reg. No.: |
200910378-H |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
·
Engaged in
Trading of metals such as Tin, Nickel,
Zinc and Lead ·
subject is also engaged in trading, stocking
and distribution of Ferro-alloys
like Ferro-Chrome, Ferro-Vanadium
& Ferro-Molly |
|
|
|
|
No of Employees : |
01 [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 |
|
* Adopted abbreviations : |
SC - Subject Company (the company enquired
by you) |
|
|
N/A - Not Applicable |
|
REGISTRATION NO. |
: |
200910378-H |
|
COMPANY NAME |
: |
SIZER METALS
PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
09/06/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
6, EU TONG SEN STREET, 10-03, THE CENTRAL,
059817, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
6, EU TONG SEN STREET, # 10-03, THE
CENTRAL SOHO 1, 059817, SINGAPORE. |
|
TEL.NO. |
: |
65-62241786 |
|
FAX.NO. |
: |
65-62241787 |
|
EMAIL |
: |
|
|
WEB SITE |
: |
|
|
CONTACT PERSON |
: |
TAMBAWALA ABIZER SHABBIR ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
·
Engaged in Trading of metals such as Tin, Nickel, Zinc and
Lead ·
subject is also engaged in
trading, stocking and distribution of Ferro-alloys like Ferro-Chrome, Ferro-Vanadium & Ferro-Molly |
|
ISSUED AND PAID UP CAPITAL |
: |
27,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 27,000.00 |
|
SALES |
: |
USD 57,426,764 [2013] |
|
NET WORTH |
: |
USD 1,168,263 [2013] |
|
STAFF STRENGTH |
: |
1 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
PROMPT |
|
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 metals.
The immediate holding company of the Subject is SIZER METALS PTE. LTD., a company incorporated in INDIA.
The ultimate holding company of the Subject is SIZER METALS PRIVATE LIMITED, a company incorporated in INDIA.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
11/06/2014 |
SGD 517,000.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TAMBAWALA ABIZER SHABBIR + |
10, KITCHENER LINK, 04-19, CITY SQUARE RESIDENCES, 207225, SINGAPORE. |
G5163506Q |
1.00 |
0.00 |
|
SIZER METALS PTE. LTD. |
15/17, YAQOOB STREET, MOHAMMEDI MANZIL, NEAR J.J. HOSPITAL, MUMBAI 400003, INDIA. |
T10UF0640 |
516,999.00 |
100.00 |
|
--------------- |
------ |
|||
|
517,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
TAMBAWALA SHABBIR ABDUL HUSAIN |
|
Address |
: |
204-A, MEENA APTS, MATHAR PAKHDI ROAD, MAZGAON, MUMBAI 10, MS, INDIA. |
|
IC / PP No |
: |
E8157399 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
06/04/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
MEHTA DIVYEN PRAKASH |
|
Address |
: |
568, HOUGANG STREET 51, 02-81, 530568, SINGAPORE. |
|
IC / PP No |
: |
S2765837G |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/09/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
TAMBAWALA ABIZER SHABBIR |
|
Address |
: |
10, KITCHENER LINK, 04-19, CITY SQUARE RESIDENCES, 207225, SINGAPORE. |
|
IC / PP No |
: |
G5163506Q |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
09/06/2009 |
|
1) |
Name of Subject |
: |
TAMBAWALA ABIZER SHABBIR |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
AKBER ALI & CO |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
LORRAINE LEE LAY CHING |
|
IC / PP No |
: |
S1794045G |
|
|
Address |
: |
251, KIM KEAT LINK, 08-117, 310251, SINGAPORE. |
|
No Banker found in our databank.
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201105910 |
16/05/2011 |
N/A |
UNION BANK OF INDIA, NULL BAZAR BRANCH |
- |
Unsatisfied |
|
C201105912 |
16/05/2011 |
N/A |
UNION BANK OF INDIA, NULL BAZAR BRANCH |
- |
Unsatisfied |
* 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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
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 |
|||
|
Goods
Traded |
: |
METALS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
1 |
||||||||
|
Branch |
: |
NO |
Other
Information:
· The Subject is principally engaged in the (as a / as an) trading of metals such as Tin, Nickel, Zinc and Lead
· The subject is also engaged in trading, stocking and distribution of Ferro-alloys like Ferro-Chrome, Ferro-Vanadium & Ferro-Molly
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62241786 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
6EU TONG SEN STREET, # 10-03 THE CENTRAL ,
SOHO 1, SINGAPORE 059817 |
|
Current Address |
: |
6, EU TONG SEN STREET, # 10-03, THE
CENTRAL SOHO 1, 059817, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
we contacted one of the staff from the Subject and she provided some information.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
14.15% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
122.16% |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
33.25% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
53.47% |
] |
|
|
The higher turnover could be attributed to
the favourable market condition and the Subject could be gaining the market
share progressively.The higher profit could be attributed to the increase in turnover.
Generally the Subject was profitable. The favourable return on shareholders'
funds and return on net assets indicate that the Subject's management was
efficient in utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
17 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 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 |
[ |
1.19 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.23 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 |
[ |
3.11 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.12 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 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. 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 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 : 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) |
|||||
|
(Source : Department of Statistics) |
|
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 |
|
|
Incorporated in 2009, the Subject is a
Private Limited company, focusing on trading of metals. Having been in
business for 5 years, the Subject has established a remarkable clientele base
for itself which has contributed to its business growth. Having strong
support from its holding company has enabled the Subject to remain
competitive despite the challenging business environment. Over the years, the Subject has penetrated
into both the local and overseas market. The Subject has positioned itself in
the global market and is competing in the industry. Its stable clientele base
will enable the Subject to further enhance its business in the near term.
Being a small company, the Subject's business operation is supported by 1
employees. Overall, we regard that the Subject's management capability is
average. This indicates that the Subject has greater potential to improve its
business performance and raising income for the Subject. We noted that both the turnover and
profits have increased compared to the previous year. The higher profit could
be due to increase in turnover and better control over its operating costs.
Based on the higher profitability, the Subject has generated a favourable
return based on its existing shareholders' funds which indicated that the
management was efficient in utilising its funds to generate income. The
Subject is in good liquidity position with its current liabilities well
covered by it current assets. Hence, it has sufficient working capital to
meet its short term financial obligations. Being a lowly geared company, the
Subject is exposed to low financial risk as it is mainly dependent on its
internal funds to finance its business needs. Given a positive net worth standing
at USD 1,168,263, the Subject should be able to maintain its business in the
near terms. We regard that the Subject's overall
payment habit is prompt. The Subject had a favourable creditors' ratio as
evidenced by its favourable collection days. The industry shows an upward trend and
this trend is very likely to sustain in the near terms. Hence, the Subject is
expected to benefit from the favourable outlook of the industry. Based on the above condition, we recommend
credit be granted to the Subject promptly. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
SIZER METALS
PTE. LTD. |
|
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 |
57,426,764 |
50,307,473 |
|
Other Income |
12,284 |
59,200 |
|
---------------- |
---------------- |
|
|
Total Turnover |
57,439,048 |
50,366,673 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
423,913 |
190,812 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
423,913 |
190,812 |
|
Taxation |
(35,448) |
(15,794) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
388,465 |
175,018 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD |
||
|
As previously reported |
270,493 |
95,475 |
|
---------------- |
---------------- |
|
|
As restated |
270,493 |
95,475 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
658,958 |
270,493 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
658,958 |
270,493 |
|
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
||
|
Term loan / Borrowing |
119,398 |
16,858 |
|
Others |
81,382 |
- |
|
---------------- |
---------------- |
|
|
200,780 |
16,858 |
|
|
============= |
============= |
|
SIZER METALS
PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
3,133 |
- |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
3,133 |
- |
|
Stocks |
231,121 |
97,807 |
|
Trade debtors |
2,611,098 |
3,600,807 |
|
Other debtors, deposits & prepayments |
670,506 |
830,422 |
|
Cash & bank balances |
1,323,639 |
5,032 |
|
Amount owing by shareholders |
1,361,629 |
833,932 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
6,197,993 |
5,368,000 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,201,126 |
5,368,000 |
|
============= |
============= |
|
|
Other creditors & accruals |
13,884 |
66,489 |
|
Bank overdraft |
140,181 |
26,869 |
|
Amounts owing to director |
104,267 |
21,661 |
|
Provision for taxation |
59,854 |
24,316 |
|
Other liabilities |
4,714,677 |
4,588,867 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
5,032,863 |
4,728,202 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,165,130 |
639,798 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,168,263 |
639,798 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
509,305 |
369,305 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
509,305 |
369,305 |
|
Retained profit/(loss) carried forward |
658,958 |
270,493 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
658,958 |
270,493 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,168,263 |
639,798 |
|
---------------- |
---------------- |
|
|
1,168,263 |
639,798 |
|
|
============= |
============= |
|
|
SIZER METALS
PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
1,323,639 |
5,032 |
|
Net Liquid Funds |
1,183,458 |
(21,837) |
|
Net Liquid Assets |
934,009 |
541,991 |
|
Net Current Assets/(Liabilities) |
1,165,130 |
639,798 |
|
Net Tangible Assets |
1,168,263 |
639,798 |
|
Net Monetary Assets |
934,009 |
541,991 |
|
BALANCE SHEET
ITEMS |
||
|
Total Borrowings |
140,181 |
26,869 |
|
Total Liabilities |
5,032,863 |
4,728,202 |
|
Total Assets |
6,201,126 |
5,368,000 |
|
Net Assets |
1,168,263 |
639,798 |
|
Net Assets Backing |
1,168,263 |
639,798 |
|
Shareholders' Funds |
1,168,263 |
639,798 |
|
Total Share Capital |
509,305 |
369,305 |
|
Total Reserves |
658,958 |
270,493 |
|
LIQUIDITY
(Times) |
||
|
Cash Ratio |
0.26 |
0.00 |
|
Liquid Ratio |
1.19 |
1.11 |
|
Current Ratio |
1.23 |
1.14 |
|
WORKING CAPITAL
CONTROL (Days) |
||
|
Stock Ratio |
1 |
1 |
|
Debtors Ratio |
17 |
26 |
|
Creditors Ratio |
0 |
0 |
|
SOLVENCY RATIOS
(Times) |
||
|
Gearing Ratio |
0.12 |
0.04 |
|
Liabilities Ratio |
4.31 |
7.39 |
|
Times Interest Earned Ratio |
3.11 |
12.32 |
|
Assets Backing Ratio |
2.29 |
1.73 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating Profit Margin |
0.74 |
0.38 |
|
Net Profit Margin |
0.68 |
0.35 |
|
Return On Net Assets |
53.47 |
32.46 |
|
Return On Capital Employed |
47.74 |
31.15 |
|
Return On Shareholders' Funds/Equity |
33.25 |
27.36 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.33 |
|
UK Pound |
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MNL |
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.