|
Report Date : |
27.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
SPECTRIS PTE. LTD.
|
|
|
|
|
Formerly Known As : |
BTG SEA PTE LTD |
|
|
|
|
Registered Office : |
31, Kaki Bukit Road 3, 04 - 05, Techlink, 417818 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
22.04.1981 |
|
|
|
|
Com. Reg. No.: |
198101779-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacture and repair of process control equipment |
|
|
|
|
No. of Employees : |
66 |
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 : |
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 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. Real GDP growth averaged 8.6% between 2004 and 2007. The
economy contracted 0.8% in 2009 as a result of the global financial crisis, but
rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to
5.2% in 2011 and 1.3% in 2012, 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,
which has sunk to an average of about 1.0% in the last decade. 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. |
: |
198101779-G |
|
COMPANY NAME |
: |
SPECTRIS PTE. LTD. |
|
FORMER NAME |
: |
BTG SEA PTE LTD
(06/01/1996) |
|
INCORPORATION DATE |
: |
22/04/1981 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
31, KAKI BUKIT ROAD 3, 04 - 05, TECHLINK, 417818, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
31 KAKI BUKIT ROAD 3, #04-05/07 TECHLINK, 417818, SINGAPORE. |
|
TEL.NO. |
: |
65-64960336 |
|
FAX.NO. |
: |
65-64960354 |
|
CONTACT PERSON |
: |
JAMES CHARLES WEBSTER ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE AND REPAIR OF PROCESS CONTROL EQUIPMENT |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
564,321.00 ORDINARY SHARE, OF A VALUE OF SGD 21,892,382.00 |
|
|
|
|
|
SALES |
: |
EUR 55,172,000 [2012] |
|
NET WORTH |
: |
EUR 38,269,000 [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
66 [2013] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
POOR |
|
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) manufacture and repair of process control equipment.
Share Capital History
|
Date |
Authorised Shared Capital |
Issue & Paid Up Capital |
|
31/07/2013 |
SGD 21,892,382.00 |
SGD 21,892,382.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SPECTRIS GROUP HOLDINGS LIMITED |
HERITAGE HOUSE, CHURCH ROAD, EGHAM, SURREY TW20 9QD, UNITED KINGDOM. |
UK011040 |
564,321.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
564,321.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
|
CHINA |
HOTTINGER BALDWIN (SUZHOU) ELECTRONIC MEASUREMENT TECHNOLOGY CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
SPECTRIS INSTRUMENTATION & SYSTEM SHANGHAI LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
KENNETH DOUGAL TURNER SMITH |
|
Address |
: |
ROUTE D'ORON 4, 1083 MEZIERES, VAUD, SWITZERLAND. |
|
IC / PP No |
: |
761232426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
15/08/2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
TAN TENG GUAN |
|
Address |
: |
9, GREENLEAF VIEW, BAN GUAN PARK, 279249, SINGAPORE. |
|
IC / PP No |
: |
S1374503Z |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
11/12/1995 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
JAMES CHARLES WEBSTER |
|
Address |
: |
6, OAK DRIVE, HIGHWORTH WITSHIRE, SN6 7BP, UNITED KINGDOM. |
|
IC / PP No |
: |
093158341 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
21/07/2006 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
JAMES CHARLES WEBSTER |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
|
1) |
Company Secretary |
: |
JULIANA LOH JOO HUI |
|
|
IC / PP No |
: |
S2558149J |
|
|
|
|
|
|
|
Address |
: |
22, SAINT GEORGE'S ROAD, 12 - 182, 321022, 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 |
: |
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 |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
X |
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Products manufactured |
: |
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
66 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture and repair
of process control equipment.
The Subject refused to disclose its operation.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-64960336 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
31 KAKI BUKIT ROAD 3, #06-04/05, TECHLINK SINGAPORE 417818 |
|
Current Address |
: |
31 KAKI BUKIT ROAD 3, #04-05/07 TECHLINK, 417818, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
Other Investigations
we contacted one of the staff from the Subject and she provided some
information on the Subject.
The address provided is incorrect.
The Subject refused to disclose its banker.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
7.71% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
268.14% |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
40.96% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
44.39% |
] |
|
|
|
|
|
|
|
|
|
|
The higher turnover could be attributed to the favourable market condition.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 |
[ |
31 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
41 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
122 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 |
[ |
2.09 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.35 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 : STRONG |
||||||
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK |
|
Major Economic Indicators : |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
|
|
|
|
|
|
Population (Million) |
4.84 |
4.98 |
5.08 |
5.18 |
5.31 |
|
Gross Domestic Products ( % ) |
1.5 |
<0.8> |
14.5 |
4.9 |
1.3 |
|
Consumer Price Index |
6.6 |
0.6 |
2.8 |
5.2 |
4.6 |
|
Total Imports (Million) |
450,892.6 |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
|
Total Exports (Million) |
476,762.2 |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
2.2 |
3.2 |
2.2 |
2.1 |
2.0 |
|
Tourist Arrival (Million) |
10.12 |
9.68 |
11.64 |
13.17 |
14.37 |
|
Hotel Occupancy Rate (%) |
81.0 |
75.8 |
85.6 |
86.5 |
86.4 |
|
Cellular Phone Subscriber (Million) |
1.31 |
1.37 |
1.43 |
1.50 |
1.52 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
25,327 |
26,414 |
29,798 |
32,317 |
31,892 |
|
Registration of New Companies (%) |
<2.2> |
4.3 |
12.8 |
8.5 |
<1.3> |
|
Liquidation of Companies (No.) |
10,493 |
22,393 |
15,126 |
19,005 |
17,218 |
|
Liquidation of Companies (%) |
13.7 |
113.4 |
<32.5> |
25.6 |
9.4 |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
24,850 |
26,876 |
23,978 |
23,494 |
24,788 |
|
Registration of New Businesses (%) |
0.36 |
8.15 |
<10.78> |
2.02 |
5.51 |
|
Liquidation of Businesses (No.) |
21,150 |
23,552 |
24,211 |
23,005 |
22,489 |
|
Liquidation of Businesses (%) |
<0.8> |
11.4 |
2.8 |
<5> |
<2.2> |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,326 |
2,058 |
1,537 |
1,527 |
1,748 |
|
Bankruptcy Orders (%) |
<15.9> |
<11.5> |
<25.3> |
<0.7> |
14.5 |
|
Bankruptcy Discharges (No.) |
1,500 |
3,056 |
2,252 |
1,391 |
1,881 |
|
Bankruptcy Discharges (%) |
<7.7> |
103.7 |
<26.3> |
<38.2> |
35.2 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
<0.32> |
3.25 |
<0.48> |
4.25 |
3.64 |
|
Fish Supply & Wholesale |
<6.31> |
<1.93> |
<10.5> |
12.10 |
<0.5> |
|
|
|
|
|
|
|
|
Manufacturing * |
74.6 |
71.5 |
92.8 |
100.0 |
100.3 |
|
Food, Beverages & Tobacco |
94.8 |
90.4 |
96.4 |
100.0 |
103.5 |
|
Textiles |
180.1 |
145.9 |
122.1 |
100.0 |
104.0 |
|
Wearing Apparel |
334.6 |
211.0 |
123.3 |
100.0 |
92.1 |
|
Leather Products & Footwear |
128.2 |
79.5 |
81.8 |
100.0 |
98.6 |
|
Wood & Wood Products |
132.0 |
101.4 |
104.0 |
100.0 |
95.5 |
|
Paper & Paper Products |
101.0 |
95.4 |
106.1 |
100.0 |
97.4 |
|
Printing & Media |
118.2 |
100.9 |
103.5 |
100.0 |
93.0 |
|
Crude Oil Refineries |
113.1 |
96.4 |
95.6 |
100.0 |
99.4 |
|
Chemical & Chemical Products |
84.5 |
80.3 |
97.6 |
100.0 |
100.5 |
|
Pharmaceutical Products |
43.7 |
49.1 |
75.3 |
100.0 |
109.7 |
|
Rubber & Plastic Products |
120.1 |
101.2 |
112.3 |
100.0 |
96.5 |
|
Non-metallic Mineral |
96.5 |
91.9 |
92.5 |
100.0 |
98.2 |
|
Basic Metals |
109.8 |
92.6 |
102.2 |
100.0 |
90.6 |
|
Fabricated Metal Products |
101.3 |
90.8 |
103.6 |
100.0 |
104.3 |
|
Machinery & Equipment |
65.0 |
57.3 |
78.5 |
100.0 |
112.9 |
|
Electrical Machinery |
81.7 |
86.8 |
124.1 |
100.0 |
99.3 |
|
Electronic Components |
93.1 |
85.2 |
113.6 |
100.0 |
90.6 |
|
Transport Equipment |
102.0 |
96.0 |
94.0 |
100.0 |
106.3 |
|
|
|
|
|
|
|
|
Construction |
45.90 |
<36.9> |
14.20 |
20.50 |
28.70 |
|
Real Estate |
<11.2> |
1.4 |
21.3 |
25.4 |
31.9 |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
<1.3> |
1.70 |
4.00 |
7.00 |
6.30 |
|
Transport, Storage & Communication |
11.60 |
3.90 |
12.80 |
7.40 |
5.30 |
|
Finance & Insurance |
<5.9> |
<16.4> |
<0.4> |
8.90 |
0.50 |
|
Government Services |
17.40 |
4.50 |
9.70 |
6.90 |
6.00 |
|
Education Services |
0.50 |
0.10 |
<0.9> |
<1.4> |
0.30 |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
INDUSTRY ANALYSIS |
|
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 |
|
CREDIT RISK EVALUATION & RECOMMENDATION |
|
Incorporated in 1981, the
Subject is a Private Limited company, focusing on manufacture and repair of
process control equipment. The Subject has been in business for over two
decades. It has built up a strong clientele base and good reputation will
enable the Subject to further enhance its business in the near term.
The Subject is expected to enjoy a stable market shares. Having strong
support from its shareholder has enabled the Subject to remain competitive
despite the challenging business environment. The Subject has strong capital
position. We are confident with the Subject's business and its future growth
prospect. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
SPECTRIS PTE. LTD. |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
EUR |
EUR |
|
|
|
|
|
TURNOVER |
55,172,000 |
51,224,000 |
|
Other Income |
14,445,000 |
2,597,000 |
|
|
---------------- |
---------------- |
|
Total Turnover |
69,617,000 |
53,821,000 |
|
Costs of Goods Sold |
<44,190,000> |
<41,881,000> |
|
|
---------------- |
---------------- |
|
Gross Profit |
25,427,000 |
11,940,000 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
16,986,000 |
4,614,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
16,986,000 |
4,614,000 |
|
Taxation |
<1,311,000> |
<937,000> |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
15,675,000 |
3,677,000 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
8,037,000 |
4,360,000 |
|
|
---------------- |
---------------- |
|
As restated |
8,037,000 |
4,360,000 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
23,712,000 |
8,037,000 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
23,712,000 |
8,037,000 |
|
|
============= |
============= |
|
|
|
|
BALANCE SHEET |
|
SPECTRIS PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
270,000 |
261,000 |
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
Subsidiary companies |
12,489,000 |
12,489,000 |
|
Deferred assets |
83,000 |
78,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
12,572,000 |
12,567,000 |
|
|
|
|
|
INTANGIBLE ASSETS |
|
|
|
Own goodwill |
1,423,000 |
1,423,000 |
|
|
---------------- |
---------------- |
|
TOTAL INTANGIBLE ASSETS |
1,423,000 |
1,423,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
14,265,000 |
14,251,000 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
Stocks |
4,743,000 |
2,064,000 |
|
Trade debtors |
6,127,000 |
6,336,000 |
|
Other debtors, deposits & prepayments |
193,000 |
246,000 |
|
Amount due from holding company |
29,630,000 |
17,463,000 |
|
Amount due from related companies |
237,000 |
197,000 |
|
Cash & bank balances |
803,000 |
736,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
41,733,000 |
27,042,000 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
55,998,000 |
41,293,000 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
14,743,000 |
14,754,000 |
|
Other creditors & accruals |
1,933,000 |
1,503,000 |
|
Amounts owing to related companies |
229,000 |
57,000 |
|
Provision for taxation |
824,000 |
883,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
17,729,000 |
17,197,000 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
24,004,000 |
9,845,000 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
38,269,000 |
24,096,000 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
12,591,000 |
12,591,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
12,591,000 |
12,591,000 |
|
|
|
|
|
RESERVES |
|
|
|
Exchange equalisation/fluctuation reserve |
<1,668,000> |
<200,000> |
|
General reserve |
3,634,000 |
3,668,000 |
|
Retained profit/(loss) carried forward |
23,712,000 |
8,037,000 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
25,678,000 |
11,505,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
38,269,000 |
24,096,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
|
38,269,000 |
24,096,000 |
|
|
============= |
============= |
FINANCIAL RATIO |
|
SPECTRIS PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
803,000 |
736,000 |
|
Net Liquid Funds |
803,000 |
736,000 |
|
Net Liquid Assets |
19,261,000 |
7,781,000 |
|
Net Current Assets/(Liabilities) |
24,004,000 |
9,845,000 |
|
Net Tangible Assets |
36,846,000 |
22,673,000 |
|
Net Monetary Assets |
19,261,000 |
7,781,000 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
17,729,000 |
17,197,000 |
|
Total Assets |
55,998,000 |
41,293,000 |
|
Net Assets |
38,269,000 |
24,096,000 |
|
Net Assets Backing |
38,269,000 |
24,096,000 |
|
Shareholders' Funds |
38,269,000 |
24,096,000 |
|
Total Share Capital |
12,591,000 |
12,591,000 |
|
Total Reserves |
25,678,000 |
11,505,000 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.05 |
0.04 |
|
Liquid Ratio |
2.09 |
1.45 |
|
Current Ratio |
2.35 |
1.57 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
31 |
15 |
|
Debtors Ratio |
41 |
45 |
|
Creditors Ratio |
122 |
129 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.46 |
0.71 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
2.93 |
1.80 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
30.79 |
9.01 |
|
Net Profit Margin |
28.41 |
7.18 |
|
Return On Net Assets |
44.39 |
19.15 |
|
Return On Capital Employed |
42.79 |
18.08 |
|
Return On Shareholders' Funds/Equity |
40.96 |
15.26 |
|
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.60.16 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.82.04 |
INFORMATION DETAILS
|
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.