|
Report Date : |
05.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
TLA SPORTS PTE. LTD. |
|
|
|
|
Formerly Known As : |
TLA (SPORTS EQUIPMENT) PTE. LTD. |
|
|
|
|
Registered Office : |
73, Bukit Timah Road, 01-01, Rex House, 229832 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
08.04.2004 |
|
|
|
|
Com. Reg. No.: |
200404296-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesaler of sporting goods and equipment |
|
|
|
|
No of Employees : |
1,000 (2012) |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. |
: |
200404296-G |
||||
|
COMPANY NAME |
: |
TLA SPORTS PTE.
LTD. |
||||
|
FORMER NAME |
: |
TLA (SPORTS EQUIPMENT) PTE. LTD.
(05/05/2004) |
||||
|
INCORPORATION DATE |
: |
08/04/2004 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
73, BUKIT TIMAH ROAD, 01-01, REX HOUSE,
229832, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
73, BUKIT TIMAH ROAD, 02-01, REX HOUSE,
229832, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-68820988 |
||||
|
FAX.NO. |
: |
65-68820932 |
||||
|
CONTACT PERSON |
: |
MICHAEL KOH KOW TEE ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF SPORTING GOODS AND EQUIPMENT |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
100,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 100,000.00 |
||||
|
SALES |
: |
USD 443,443,953 [2013] |
||||
|
NET WORTH |
: |
USD 25,623,984 [2013] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
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) wholesale of sporting goods and
equipment.
The immediate holding company of the Subject is TEX LINE ASSOCIATES PTE
LTD, a company incorporated in SINGAPORE.
The ultimate holding company of the Subject
is TEX LINE PTE LTD, a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
04/03/2014 |
SGD 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
TEX LINE ASSOCIATES PTE LTD |
73, BUKIT TIMAH ROAD, 02-01, REX HOUSE,
229832, SINGAPORE. |
198905457K |
100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local
No |
Country |
Company |
(%) |
As
At |
|
CHINA |
TLA SPORTS (SHENZHEN) PTE. LTD. |
100.00 |
31/03/2013 |
|
DIRECTOR 1
|
Name Of Subject |
: |
SIM KIM CHOON |
|
Address |
: |
1D, LYNWOOD GROVE, ONE LYNWOOD, 358679,
SINGAPORE. |
|
IC / PP No |
: |
S0018165Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/04/2004 |
DIRECTOR 2
|
Name Of Subject |
: |
MICHAEL KOH KOW TEE |
|
Address |
: |
201, OCEAN DRIVE, 06-05, AZURE, 098584,
SINGAPORE. |
|
IC / PP No |
: |
S0018917J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/04/2004 |
|
1) |
Name of Subject |
: |
MICHAEL KOH KOW TEE |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
CHAN FANNY |
|
IC / PP No |
: |
S1581535C |
|
|
Address |
: |
866, TAMPINES STREET 83, 02-225, 520866,
SINGAPORE. |
Banking relations are maintained principally
with :
|
1) |
Name |
: |
INDUSTRIAL & COMMERCIAL BANK LTD |
|
2) |
Name |
: |
THE HONGKONG AND SHANGHAI BANKING
CORPORATION LTD |
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank against 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 information.
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
SPORTS EQUIPMENT AND RELATED PRODUCTS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2012 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
1,000 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of sporting
goods and equipment.
The Subject's principal activities are those of provision of sourcing and
buying services for sports equipment, products and related articles of all
descriptions.
Background (holding company):
Tex line associates pte ltd (tla) is a service-oriented organization
that provides complete and comprehensive apparel sourcing & supply chain
management.
The Subject's main business is to source products for their customers, organise
the shipping and qc inspections and keep their customers up to date with the
latest developments.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68820988 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
73 BUKIT TIMAH ROAD #02-01 REX HOUSE
SINGAPORE 229832 |
|
Current Address |
: |
73, BUKIT TIMAH ROAD, 02-01, REX HOUSE,
229832, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its current number of employees.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
31.02% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
34.41% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.
The higher profit could be attributed to the increase in turnover. 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 |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
24 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
36 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 |
: |
Favourable |
[ |
1.54 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.54 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 : |
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 2004, the Subject is a Private Limited company, focusing
on wholesale of sporting goods and equipment. Having been in the industry for
over a decade, the Subject has achieved a certain market share and has built up
a satisfactory reputation in the market. It should have received supports from
its regular customers. 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. 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 zero geared company, the
Subject virtually has no financial risk as it is mainly dependent on its
internal funds to finance its business. Given a positive net worth standing at
USD 25,623,984, the Subject should be able to maintain its business in the near
terms.
Having a strong assets backing, the Subject possesses latent assets as
collateral for further financial extension. Hence, it has good chance of
getting loans if the needs arises.
Overall, the Subject's payment habit is good as the Subject has a good credit
control and it could be taking advantage of the cash discounts while
maintaining a good reputation with its creditors.
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.
In view of the above favourable condition, we recommend credit be proceeded to
the Subject with favourable term.
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
TLA SPORTS PTE.
LTD. |
|
Financial
Year End |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
443,443,953 |
347,117,459 |
267,917,430 |
224,010,354 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
443,443,953 |
347,117,459 |
267,917,430 |
224,010,354 |
|
Costs of Goods Sold |
(429,252,188) |
(335,991,972) |
(259,034,055) |
(216,443,351) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
14,191,765 |
11,125,487 |
8,883,375 |
7,567,003 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
8,818,189 |
6,460,302 |
4,094,819 |
3,601,674 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
8,818,189 |
6,460,302 |
4,094,819 |
3,601,674 |
|
Taxation |
(869,647) |
(602,489) |
(486,513) |
(360,148) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
7,948,542 |
5,857,813 |
3,608,306 |
3,241,526 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
17,615,310 |
11,757,497 |
8,149,191 |
6,407,665 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
17,615,310 |
11,757,497 |
8,149,191 |
6,407,665 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
25,563,852 |
17,615,310 |
11,757,497 |
9,649,191 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
(1,500,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
25,563,852 |
17,615,310 |
11,757,497 |
8,149,191 |
|
============= |
============= |
============= |
============= |
|
TLA SPORTS PTE.
LTD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
5,516 |
7,441 |
9,366 |
7,963 |
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
||||
|
Subsidiary companies |
2 |
2 |
2 |
2 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
2 |
2 |
2 |
2 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
5,518 |
7,443 |
9,368 |
7,965 |
|
CURRENT ASSETS |
||||
|
Trade debtors |
29,417,205 |
18,972,812 |
- |
- |
|
Other debtors, deposits & prepayments |
1,708 |
1,578 |
314 |
4,283 |
|
Amount due from holding company |
36,153,857 |
42,754,724 |
13,084,225 |
9,168,968 |
|
Amount due from subsidiary companies |
440,286 |
167,729 |
- |
80,096 |
|
Amount due from related companies |
758 |
27,793 |
2,311 |
926 |
|
Cash & bank balances |
6,835,780 |
1,963,666 |
216,210 |
201,133 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
72,849,594 |
63,888,302 |
13,303,060 |
9,455,406 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
72,855,112 |
63,895,745 |
13,312,428 |
9,463,371 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade creditors |
42,090,405 |
43,374,371 |
- |
- |
|
Other creditors & accruals |
3,752,756 |
1,934,390 |
974,723 |
817,979 |
|
Amounts owing to subsidiary companies |
344,883 |
270,542 |
- |
- |
|
Amounts owing to related companies |
274,378 |
161,360 |
122,764 |
143,340 |
|
Provision for taxation |
768,706 |
479,640 |
397,312 |
292,729 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
47,231,128 |
46,220,303 |
1,494,799 |
1,254,048 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
25,618,466 |
17,667,999 |
11,808,261 |
8,201,358 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
25,623,984 |
17,675,442 |
11,817,629 |
8,209,323 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
60,132 |
60,132 |
60,132 |
60,132 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
60,132 |
60,132 |
60,132 |
60,132 |
|
RESERVES |
||||
|
Retained profit/(loss) carried forward |
25,563,852 |
17,615,310 |
11,757,497 |
8,149,191 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
25,563,852 |
17,615,310 |
11,757,497 |
8,149,191 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
25,623,984 |
17,675,442 |
11,817,629 |
8,209,323 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
25,623,984 |
17,675,442 |
11,817,629 |
8,209,323 |
|
|
============= |
============= |
============= |
============= |
|
TLA SPORTS PTE.
LTD. |
|
TYPES OF FUNDS |
||||
|
Cash |
6,835,780 |
1,963,666 |
216,210 |
201,133 |
|
Net Liquid Funds |
6,835,780 |
1,963,666 |
216,210 |
201,133 |
|
Net Liquid Assets |
25,618,466 |
17,667,999 |
11,808,261 |
8,201,358 |
|
Net Current Assets/(Liabilities) |
25,618,466 |
17,667,999 |
11,808,261 |
8,201,358 |
|
Net Tangible Assets |
25,623,984 |
17,675,442 |
11,817,629 |
8,209,323 |
|
Net Monetary Assets |
25,618,466 |
17,667,999 |
11,808,261 |
8,201,358 |
|
BALANCE SHEET
ITEMS |
||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
|
Total Liabilities |
47,231,128 |
46,220,303 |
1,494,799 |
1,254,048 |
|
Total Assets |
72,855,112 |
63,895,745 |
13,312,428 |
9,463,371 |
|
Net Assets |
25,623,984 |
17,675,442 |
11,817,629 |
8,209,323 |
|
Net Assets Backing |
25,623,984 |
17,675,442 |
11,817,629 |
8,209,323 |
|
Shareholders' Funds |
25,623,984 |
17,675,442 |
11,817,629 |
8,209,323 |
|
Total Share Capital |
60,132 |
60,132 |
60,132 |
60,132 |
|
Total Reserves |
25,563,852 |
17,615,310 |
11,757,497 |
8,149,191 |
|
LIQUIDITY
(Times) |
||||
|
Cash Ratio |
0.14 |
0.04 |
0.14 |
0.16 |
|
Liquid Ratio |
1.54 |
1.38 |
8.90 |
7.54 |
|
Current Ratio |
1.54 |
1.38 |
8.90 |
7.54 |
|
WORKING CAPITAL
CONTROL (Days) |
||||
|
Stock Ratio |
0 |
0 |
0 |
0 |
|
Debtors Ratio |
24 |
20 |
0 |
0 |
|
Creditors Ratio |
36 |
47 |
0 |
0 |
|
SOLVENCY RATIOS
(Times) |
||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
1.84 |
2.61 |
0.13 |
0.15 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
426.13 |
293.94 |
196.53 |
136.52 |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating Profit Margin |
1.99 |
1.86 |
1.53 |
1.61 |
|
Net Profit Margin |
1.79 |
1.69 |
1.35 |
1.45 |
|
Return On Net Assets |
34.41 |
36.55 |
34.65 |
43.87 |
|
Return On Capital Employed |
34.41 |
36.55 |
34.65 |
43.87 |
|
Return On Shareholders' Funds/Equity |
31.02 |
33.14 |
30.53 |
39.49 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.46 |
|
NOTES TO
ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.90 |
|
|
1 |
Rs. 103.25 |
|
Euro |
1 |
Rs. 85.13 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.