MIRA INFORM REPORT

 

 

Report Date :

03.03.2014

 

IDENTIFICATION DETAILS

 

Name :

EMMSONS ASIA PTE. LTD.

 

 

Formerly Known as:

AGREM RESOURCES PTE. LTD. (06/12/2011)

 

 

Registered Office :

150, Cecil Street, 07 - 01, 069543

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

05.05.2011

 

 

Reg. No.:

201110786-N

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading of Agricultural Products, Raw Materials, Fertilisers, Energy Products

 

 

No. of Employees :

4

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Slow

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 – September 30, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.8% 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 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

 

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

201110786-N

COMPANY NAME

:

EMMSONS ASIA PTE. LTD.

FORMER NAME

:

AGREM RESOURCES PTE. LTD. (06/12/2011)

INCORPORATION DATE

:

05/05/2011

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

150, CECIL STREET, 07 - 01, 069543, SINGAPORE.

BUSINESS ADDRESS

:

150, CECIL STREET, 07 - 01,, 069543, SINGAPORE.

TEL.NO.

:

65-62212090

FAX.NO.

:

65-62221290

CONTACT PERSON

:

GAJENDRA PRABHAKAR BEDEKAR ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING OF AGRICULTURAL PRODUCTS, RAW MATERIALS, FERTILISERS, ENERGY PRODUCTS

ISSUED AND PAID UP CAPITAL

:

100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00

SALES

:

USD 43,928,620 [2013]

NET WORTH

:

USD 21,671 [2013]

STAFF STRENGTH

:

4 [2014]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

FAIR

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

AVERAGE GROWTH

 

 

HISTORY / BACKGROUND

 

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 agricultural products, raw materials, fertilisers, energy products.

 

Share Capital History

Date

Issue & Paid Up Capital

28/02/2014

SGD 100,000.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

SHIVAZ MONGA +

KHASRA 230/232, SAIDULAJAB, NEW DELHI, 110030, CHINA.

Z2069032

1,000.00

1.00

EMMSONS GULF DMCC

UNIT 3406, 1-LAKE PLAZA, PLOT T2, JUMEIRAH LAKES TOWERS, DUBAI, UNITED ARAB EMIRATES.

T11UF4810

99,000.00

99.00

 

 

 

---------------

------

 

 

 

100,000.00

100.00

 

 

 

============

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

GAJENDRA PRABHAKAR BEDEKAR

Address

:

APARTMENT 102, EVERSHINE JEWEL 15TH ROAD, KHAR MUMBAI, 400052, INDIA.

IC / PP No

:

S2720303E

Nationality

:

SINGAPOREAN

Date of Appointment

:

05/05/2011

 

DIRECTOR 2

 

Name Of Subject

:

HAMIDAH BEE BEE D/O MUKHTAR ALI

Address

:

53, LENGKOK BAHRU, 12 - 313, 150053, SINGAPORE.

IC / PP No

:

S1708712F

Nationality

:

SINGAPOREAN

Date of Appointment

:

15/03/2012

 

DIRECTOR 3

 

Name Of Subject

:

SHIVAZ MONGA

Address

:

KHASRA 230/232, SAIDULAJAB, NEW DELHI, 110030, CHINA.

IC / PP No

:

Z2069032

Nationality

:

INDIAN

Date of Appointment

:

05/05/2011



MANAGEMENT

 

 

 

1)

Name of Subject

:

GAJENDRA PRABHAKAR BEDEKAR

 

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

RSM CHIO LIM LLP

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

SIM CHENG LIN

 

IC / PP No

:

S2005404B

 

 

 

 

 

Address

:

10C, BRADDELL HILL, 05 - 09, BRADDELL VIEW, 579722, SINGAPORE.

 

 

 

 

 

 

 

 

 

 

 

 

 

2)

Company Secretary

:

SEAH KIM SWEE

 

IC / PP No

:

S0045970D

 

 

 

 

 

Address

:

1D, CANTONMENT ROAD, 39 - 36, PINNACLE@DUXTON, 085401, SINGAPORE.

 

 

 

 

 

 

BANKING


No Banker found in our databank.

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201201006

26/01/2012

N/A

LH ASIAN TFF PTE. LTD.

-

Unsatisfied

C201301568

29/01/2013

N/A

ASIA ISLAMIC TRADE FINANCE FUND LTD

-

Unsatisfied

 

 

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.



PAYMENT RECORD

 

 

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

[

X

]

 

Poor >120 Days

[

 

]

 

 

 

 

 

 



CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

 

 

 

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

AGRICULTURAL PRODUCTS, RAW MATERIALS, FERTILISERS, ENERGY PRODUCTS

 

 

 

 

 

Total Number of Employees:

YEAR

2014

 

GROUP

N/A

 

 

 

 

 

 

 

 

COMPANY

4

 

 

 

 

 

 

 

 

 

Branch

:

NO

 

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading of agricultural products, raw materials, fertilisers, energy products.


The Subject sells agricultural products.



CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-62212090

Match

:

N/A

 

 

 

Address Provided by Client

:

150 CECIL STREET 07-01, SINGAPORE 069543

Current Address

:

150, CECIL STREET, 07 - 01,, 069543, SINGAPORE.

Match

:

YES

 

Other Investigations


On 28th February 2014 we contacted one of the staff from the Subject and she provided some information.


 

FINANCIAL ANALYSIS

 

 

Profitability

 

 

 

 

 

 

Turnover

:

Increased

[

976.77%

]

 

Profit/(Loss) Before Tax

:

Decreased

[

(48.44%)

]

 

Return on Shareholder Funds

:

Unfavourable

[

(92.05%)

]

 

Return on Net Assets

:

Unfavourable

[

365.52%

]

 

 

 

 

 

 

 

 

The increase in turnover could be due to the Subject adopting an aggressive marketing strategy.The Subject could be more efficient in controlling its operating costs and had managed to reduce its losses during the year. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns.

 

 

 

 

 

 

 

Working Capital Control

 

 

 

 

 

 

Stock Ratio

:

Nil

[

0 Days

]

 

Debtor Ratio

:

Favourable

[

4 Days

]

 

Creditors Ratio

:

Favourable

[

2 Days

]

 

 

 

 

 

 

 

 

As the Subject is a service oriented company, the Subject does not need to keep 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

:

Acceptable

[

0.99 Times

]

 

Current Ratio

:

Unfavourable

[

0.99 Times

]

 

 

 

 

 

 

 

 

The Subject's liquid ratio was slightly low. This could indicate that the Subject's working capital was slightly deficient. The Subject will have to improve its liquidity position either by obtaining short term financing or increase its paid up capital so that it can meet all its short term obligations as and when they fall due.

 

 

 

 

 

 

 

Solvency

 

 

 

 

 

 

Interest Cover

:

Unfavourable

[

0.80 Times

]

 

Gearing Ratio

:

Unfavourable

[

64.36 Times

]

 

 

 

 

 

 

 

 

The Subject's interest cover was low. If its profits fall or when interest rate rises, it  may not be able to meet all its interest payment. The Subject was highly geared, thus it had a high financial risk. The Subject was dependent on loans to finance its business needs. In times of economic downturn and / or high interest rate, the Subject will become less profitable and competitive than other firms in the same industry, which are lowly geared. This is because the Subject has to service the interest and to repay the loan, which will erode part of its profits. The profits will fluctuate depending on the Subject's turnover and the interest it needs to pay.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Overall Assessment :

 

 

 

 

 

 

The higher turnover had helped to reduce the Subject's losses. The Subject's liquidity was at an acceptable range. If the Subject is able to obtain further short term financing, it should be able to meet all its short term obligations. If there is a fall in the Subject's profit or any increase in interest rate, the Subject may not be able to generate sufficient cash-flow to service its interest. The Subject's gearing level was high and its going concern will be in doubt if there is no injection of additional shareholders' funds in times of economic downturn and / or high interest rates.

 

 

 

 

 

 

 

Overall financial condition of the Subject : POOR

 

 

 

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)

 

 

 

 

 

(Source : Department of Statistics)

 

 

 

 

 



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

 

 


Incorporated in 2011, the Subject is a Private Limited company, focusing on trading of agricultural products, raw materials, fertilisers and energy products. The Subject has been in business for less than 5 years and it has slowly been building up contact with its clients while competing in the industry. However, it has yet to enjoy a stable market shares as it need to compete many well established players in the same field. The capital standing of the Subject is weak. The Subject may face difficulties to expand its business compared to other large corporation. Without a strong capital, the business expansion opportunities of the Subject is limited.

Our investigation revealed that the Subject serves both local and overseas clients. Penetrating into the overseas countries has well diversified its business risk. However, being a loss making company indicates that the Subject faces difficulties in the market. Being a small company, the Subject's business operation is supported by 4 employees. Overall, we regard that the Subject's management capability is weak. Without capable management, the Subject is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business.

Despite the higher turnover, the Subject suffered pre-tax losses which reflected a highly competitive business environment. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. The Subject managed to maintain an adequate liquidity level, indicating that the Subject has the ability to meet its financial obligations. The high gearing ratio clearly implied that the Subject was supported by more debt than equity. Thus, the Subject is exposed to high financial risk.

Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth.

The Subject's payment record regarded as fair. With poor financial condition, the Subject may unable to pay its creditors on the given period of time.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. However, we are of the opinion that there are a large number of other companies in the same industry. In another word, we believe that the Subject faces stiff competitions from other local players.

Based on the above unfavourable condition, we regard granting credit to the Subject to be quite risky. Hence, credit is not recommended.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

EMMSONS ASIA 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

43,928,620

4,079,670

 

----------------

----------------

Total Turnover

43,928,620

4,079,670

Costs of Goods Sold

(43,275,222)

(3,992,150)

 

----------------

----------------

Gross Profit

653,398

87,520

 

----------------

----------------

 

 

 

PROFIT/(LOSS) FROM OPERATIONS

(19,949)

(38,688)

 

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

(19,949)

(38,688)

 

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

(19,949)

(38,688)

 

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

 

 

As previously reported

(38,688)

-

 

----------------

----------------

As restated

(38,688)

-

 

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

(58,637)

(38,688)

 

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(58,637)

(38,688)

 

=============

=============

 

 

 

INTEREST EXPENSE (as per notes to P&L)

 

 

Others

99,160

6,654

 

----------------

----------------

 

99,160

6,654

 

=============

=============

 

 

 

BALANCE SHEET

 

 

EMMSONS ASIA PTE. LTD.

 

ASSETS EMPLOYED:

 

 

FIXED ASSETS

38,560

46,120

 

 

 

 

----------------

----------------

TOTAL LONG TERM ASSETS

38,560

46,120

 

 

 

CURRENT ASSETS

 

 

Stocks

-

34,320

Trade debtors

453,454

-

Other debtors, deposits & prepayments

530,355

36,578

Cash & bank balances

741,249

2,142,936

 

----------------

----------------

TOTAL CURRENT ASSETS

1,725,058

2,213,834

 

----------------

----------------

TOTAL ASSET

1,763,618

2,259,954

 

=============

=============

 

 

 

CURRENT LIABILITIES

 

 

Trade creditors

276,348

5,115

Other creditors & accruals

5,480

4,363

Bill & acceptances payable

1,394,675

1,651,185

Amounts owing to holding company

62,403

554,630

Amounts owing to director

3,041

3,041

 

----------------

----------------

TOTAL CURRENT LIABILITIES

1,741,947

2,218,334

 

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

(16,889)

(4,500)

 

----------------

----------------

TOTAL NET ASSETS

21,671

41,620

 

=============

=============

 

 

 

SHARE CAPITAL

 

 

Ordinary share capital

80,308

80,308

 

----------------

----------------

TOTAL SHARE CAPITAL

80,308

80,308

 

 

 

RESERVES

 

 

Retained profit/(loss) carried forward

(58,637)

(38,688)

 

----------------

----------------

TOTAL RESERVES

(58,637)

(38,688)

 

 

 

 

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

21,671

41,620

 

 

 

 

----------------

----------------

 

21,671

41,620

 

=============

=============

 

 

 

 

 

 

FINANCIAL RATIO

 

 

EMMSONS ASIA PTE. LTD.

 

TYPES OF FUNDS

 

 

Cash

741,249

2,142,936

Net Liquid Funds

(653,426)

491,751

Net Liquid Assets

(16,889)

(38,820)

Net Current Assets/(Liabilities)

(16,889)

(4,500)

Net Tangible Assets

21,671

41,620

Net Monetary Assets

(16,889)

(38,820)

BALANCE SHEET ITEMS

 

 

Total Borrowings

1,394,675

1,651,185

Total Liabilities

1,741,947

2,218,334

Total Assets

1,763,618

2,259,954

Net Assets

21,671

41,620

Net Assets Backing

21,671

41,620

Shareholders' Funds

21,671

41,620

Total Share Capital

80,308

80,308

Total Reserves

(58,637)

(38,688)

LIQUIDITY (Times)

 

 

Cash Ratio

0.43

0.97

Liquid Ratio

0.99

0.98

Current Ratio

0.99

1.00

WORKING CAPITAL CONTROL (Days)

 

 

Stock Ratio

0

3

Debtors Ratio

4

0

Creditors Ratio

2

0

SOLVENCY RATIOS (Times)

 

 

Gearing Ratio

64.36

39.67

Liabilities Ratio

80.38

53.30

Times Interest Earned Ratio

0.80

(4.81)

Assets Backing Ratio

0.27

0.52

PERFORMANCE RATIO (%)

 

 

Operating Profit Margin

(0.05)

(0.95)

Net Profit Margin

(0.05)

(0.95)

Return On Net Assets

365.52

(76.97)

Return On Capital Employed

365.52

(76.97)

Return On Shareholders' Funds/Equity

(92.05)

(92.96)

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.62.07

UK Pound

1

Rs.103.61

Euro

1

Rs.85.03

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.