|
Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOBLE RESOURCES INTERNATIONAL PTE. LTD. |
|
|
|
|
Formerly Known As : |
NOBLE RESOURCES SINGAPORE PTE. LTD. |
|
|
|
|
Registered Office : |
60, Anson Road, 19 - 01, Mapletree Anson, 079914. |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
29.06.2011 |
|
|
|
|
Com. Reg. No.: |
201115304-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of agricultural, energy products, metals and minerals &
investment holding |
|
|
|
|
No. of Employees : |
200 |
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 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 |
|
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. 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. |
: |
201115304-N |
||||
|
COMPANY NAME |
: |
NOBLE RESOURCES INTERNATIONAL PTE. LTD. |
||||
|
FORMER NAME |
: |
NOBLE RESOURCES SINGAPORE PTE. LTD. (25/07/2011) |
||||
|
INCORPORATION DATE |
: |
29/06/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
60, ANSON ROAD, 19 - 01, MAPLETREE ANSON, 079914, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
60 ANSON ROAD, 19-01, MAPLETREE ANSON, 079914, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63054888 |
||||
|
FAX.NO. |
: |
65-64054889 |
||||
|
WEB SITE |
: |
WWW.THISISNOBLE.COM |
||||
|
CONTACT PERSON |
: |
NEIL TIMOTHY DHAR ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF AGRICULTURAL, ENERGY PRODUCTS, METALS AND MINERALS &
INVESTMENT HOLDING |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
88,136,500.00 ORDINARY SHARE, OF A VALUE OF SGD 88,136,500.00 |
||||
|
SALES |
: |
USD 1,731,743,000 [2011] |
||||
|
NET WORTH |
: |
USD <51,418,000> [2011] |
||||
|
STAFF STRENGTH |
: |
200 [2013] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
FAIR |
||||
|
MANAGEMENT CAPABILITY |
: |
WEAK |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
POOR |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
The SC 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
SC must have at least two directors. A private limited company is a separate
legal entity from its shareholders. As a separate legal entity, the SC 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 SC is insolvent. The SC 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 SC is principally engaged in the (as a / as an) trading of
agricultural, energy products, metals and minerals & investment holding.
The immediate holding company of the SC is NOBLE RESOURCES GROUP
LIMITED, a company incorporated in VIRGIN ISLANDS, BRITISH.
The ultimate holding company of the SC is NOBLE GROUP LIMITED, a company
incorporated in BERMUDA.
The major shareholder(s) of the SC are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NOBLE RESOURCES GROUP LIMITED |
P. O. BOX 957, OFFSHORE INCORPORATIONS CENTRE, ROAD TOWN, TORTOLA,
VIRGIN ISLANDS, BRITISH. |
T03UF0001 |
88,136,500.00 |
100.00 |
|
--------------- |
------ |
|||
|
88,136,500.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The SC interest in other companies (Subsidiaries/Associates) are shown
as follow :
Local No |
Country |
Company |
(%) |
As At |
|
199307319D |
SINGAPORE |
SASIAINVEST PTE. LTD. |
100.00 |
31/12/2011 |
|
201131155K |
SINGAPORE |
JAPET RESOURCES PTE. LTD. |
100.00 |
31/12/2011 |
|
011002 |
COLOMBIA |
NOBLE RESOURCES INTERNATIONAL COLUMBIA SAS |
100.00 |
31/12/2011 |
|
201129166G |
SINGAPORE |
ZEAL RESOURCES PTE. LTD. |
100.00 |
31/12/2011 |
|
200106798D |
SINGAPORE |
WORLDWIDE WAREHOUSE SOLUTIONS SINGAPORE PTE. LTD. |
100.00 |
31/12/2011 |
|
200712611E |
SINGAPORE |
NHCL PTE. LTD. |
100.00 |
31/12/2011 |
|
200707807K |
SINGAPORE |
NOBLE GAS AND POWER PTE. LTD. |
100.00 |
31/12/2011 |
|
201004485D |
SINGAPORE |
ENERGY COAL MARKETING ASIA PTE. LTD. |
100.00 |
31/12/2011 |
|
011122 |
INDIA |
NOBLE RESOURCES (M) SDN. BHD.AND TRADING INDIA PRIVATE LTD |
99.00 |
31/12/2011 |
DIRECTOR 1
|
Name Of Subject |
: |
NEIL TIMOTHY DHAR |
|
Address |
: |
64A, MERRYN ROAD, 298524, SINGAPORE. |
|
IC / PP No |
: |
G6385595U |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
17/08/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
TIMOTHY MARTIN EYRE |
|
Address |
: |
FLAT C, 8/F, THE MANHATTAN, 33, TAI TAM ROAD, STANLEY, HONG KONG. |
|
IC / PP No |
: |
508184894 |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
01/11/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
WILLIAM JAMES RANDALL |
|
Address |
: |
8, ROCHALIE DRIVE, 248239, SINGAPORE. |
|
IC / PP No |
: |
G5933539T |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
17/08/2011 |
|
1) |
Name of Subject |
: |
NEIL TIMOTHY DHAR |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
JULIANA TAN BENG HWEE |
|
IC / PP No |
: |
S7109947D |
|
|
Address |
: |
533, UPPER CROSS STREET, 16 - 213, 050533, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
CHIA LUANG CHEW HAZEL |
|
IC / PP No |
: |
S1407126A |
|
|
Address |
: |
729, CLEMENTI WEST STREET 2, 10 - 354, 120729, SINGAPORE. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
ABN AMRO BANK N.V. |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201309318 |
08/07/2013 |
N/A |
ABN AMRO BANK N.V., HONG KONG BRANCH |
N/A |
Unsatisfied |
* A check has been conducted in our databank againt the SC 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 SC refused to disclose its suppliers.
The SC 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 |
[ |
] |
||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
AGRICULTURAL, ENERGY PRODUCTS, METALS AND MINERALS |
|
|
Services |
: |
INVESTMENT HOLDING |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2013 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
200 |
||||||||
|
Branch |
: |
NO |
Other Information:
The SC is principally engaged in the (as a / as an) trading of agricultural,
energy products, metals and minerals & investment holding.
The Noble Group, is a market-leading global supply chain manager of
agricultural and energy products, metals and minerals.
Latest fresh investigations carried out on the SC indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63054888 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
60 ANSON ROAD 19-01 MAPLETREE ANSON SINGAPORE 079914 |
|
Current Address |
: |
60 ANSON ROAD, 19-01, MAPLETREE ANSON, 079914, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
we contacted one of the staff from the SC
and she provided some information on the SC.
|
Profitability |
||||||
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
<7.92%> |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
<10.27%> |
] |
|
|
The SC's unfavourable returns on shareholders' funds indicate the
management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
13 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
41 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
24 Days |
] |
|
|
The SC'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 SC. The SC had
a favourable creditors' ratio where the SC could be taking advantage of the
cash discounts and also wanting to maintain goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Acceptable |
[ |
0.84 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.87 Times |
] |
|
|
The SC's liquid ratio was slightly low. This could indicate that the
SC's working capital was slightly deficient. The SC 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 |
: |
Favourable |
[ |
564.05 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest cover showed that the SC was able to service the
interest. The favourable interest cover could indicate that the SC was making
enough profit to pay for the interest accrued. The SC had no gearing and
hence it had virtually no financial risk. The SC was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the SC, having a zero gearing, will be able to compete better than
those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
The SC's liquidity was at an acceptable range. If the SC is able to
obtain further short term financing, it should be able to meet all its short
term obligations. With the favourable interest cover, the SC could be able to
service all the accrued interest without facing any difficulties. The SC was
a zero gearing company, it was solely dependant on its shareholders to
provide funds to finance its business. The SC has good chance of getting
loans, if the needs arises. |
||||||
|
Overall financial condition of the SC : POOR |
||||||
|
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 : |
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 2011, the SC is a Private Limited company, focusing on
trading of agricultural, energy products, metals and minerals &
investment holding. The SC has been in business for 2 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. Having strong support from
its holding company has enabled the SC to remain competitive despite the
challenging business environment. The SC is a large entity with strong
capital position.
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|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
NOBLE RESOURCES INTERNATIONAL PTE. LTD. |
|
Financial Year
End |
2011-12-31 |
|
Months |
6 |
|
Consolidated Account |
Company |
|
Audited Account |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
|
Financial Type |
FULL |
|
Currency |
USD |
|
TURNOVER |
1,731,743,000 |
|
---------------- |
|
|
Total Turnover |
1,731,743,000 |
|
Costs of Goods Sold |
<1,674,911,000> |
|
---------------- |
|
|
Gross Profit |
56,832,000 |
|
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
5,273,000 |
|
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
5,273,000 |
|
Taxation |
<1,200,000> |
|
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
4,073,000 |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
4,073,000 |
|
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
4,073,000 |
|
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|
|
Others |
9,365 |
|
---------------- |
|
|
9,365 |
|
ASSETS EMPLOYED: |
|
|
FIXED ASSETS |
10,832,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
Subsidiary companies |
17,998,000 |
|
Associated companies |
4,780,000 |
|
Deferred assets |
4,521,000 |
|
Others |
213,128,000 |
|
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
240,427,000 |
|
---------------- |
|
|
TOTAL LONG TERM ASSETS |
251,259,000 |
|
CURRENT ASSETS |
|
|
Stocks |
61,333,000 |
|
Trade debtors |
195,996,000 |
|
Other debtors, deposits & prepayments |
176,218,000 |
|
Amount due from agents, brokers & reinsurers |
36,254,000 |
|
Amount due from holding company |
78,873,000 |
|
Amount due from subsidiary companies |
47,690,000 |
|
Amount due from related companies |
256,554,000 |
|
Amount due from associated companies |
838,000 |
|
Cash & bank balances |
6,094,000 |
|
Others |
1,179,926,000 |
|
---------------- |
|
|
TOTAL CURRENT ASSETS |
2,039,776,000 |
|
---------------- |
|
|
TOTAL ASSET |
2,291,035,000 |
|
============= |
|
|
CURRENT LIABILITIES |
|
|
Trade creditors |
109,025,000 |
|
Other creditors & accruals |
284,886,000 |
|
Amounts owing to holding company |
178,862,000 |
|
Amounts owing to subsidiary companies |
111,000 |
|
Amounts owing to related companies |
1,258,750,000 |
|
Provision for taxation |
1,200,000 |
|
Other liabilities |
509,619,000 |
|
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,342,453,000 |
|
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
<302,677,000> |
|
---------------- |
|
|
TOTAL NET ASSETS |
<51,418,000> |
|
============= |
|
|
SHARE CAPITAL |
|
|
Ordinary share capital |
30,401,000 |
|
---------------- |
|
|
TOTAL SHARE CAPITAL |
30,401,000 |
|
RESERVES |
|
|
General reserve |
<85,892,000> |
|
Retained profit/(loss) carried forward |
4,073,000 |
|
---------------- |
|
|
TOTAL RESERVES |
<81,819,000> |
|
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
<51,418,000> |
|
---------------- |
|
|
<51,418,000> |
|
|
============= |
|
TYPES OF FUNDS |
|
|
Cash |
6,094,000 |
|
Net Liquid Funds |
6,094,000 |
|
Net Liquid Assets |
<364,010,000> |
|
Net Current Assets/(Liabilities) |
<302,677,000> |
|
Net Tangible Assets |
<51,418,000> |
|
Net Monetary Assets |
<364,010,000> |
|
BALANCE SHEET ITEMS |
|
|
Total Borrowings |
0 |
|
Total Liabilities |
2,342,453,000 |
|
Total Assets |
2,291,035,000 |
|
Net Assets |
<51,418,000> |
|
Net Assets Backing |
<51,418,000> |
|
Shareholders' Funds |
<51,418,000> |
|
Total Share Capital |
30,401,000 |
|
Total Reserves |
<81,819,000> |
|
LIQUIDITY (Times) |
|
|
Cash Ratio |
0.00 |
|
Liquid Ratio |
0.84 |
|
Current Ratio |
0.87 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
Stock Ratio |
13 |
|
Debtors Ratio |
41 |
|
Creditors Ratio |
24 |
|
SOLVENCY RATIOS (Times) |
|
|
Gearing Ratio |
0.00 |
|
Liabilities Ratio |
<45.56> |
|
Times Interest Earned Ratio |
564.05 |
|
Assets Backing Ratio |
<1.69> |
|
PERFORMANCE RATIO (%) |
|
|
Operating Profit Margin |
0.30 |
|
Net Profit Margin |
0.24 |
|
Return On Net Assets |
<10.27> |
|
Return On Capital Employed |
<10.27> |
|
Return On Shareholders' Funds/Equity |
<7.92> |
|
Dividend Pay Out Ratio (Times) |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
Contingent Liabilities |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors
are apparent. Repayment of interest and principal sums in default or expected
to be in default upon maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.