|
Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
FIRST SOLAR FE HOLDINGS PTE. LTD. |
|
|
|
|
Registered Office : |
10, Collyer Quay, 10-01, Ocean Financial Centre, 049315 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.01.2007 |
|
|
|
|
Com. Reg. No.: |
200700550-Z |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the investment holding |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
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. The economy
contracted 0.6% in 2009 as a result of the global financial crisis, but
rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to
in 2011-13, largely a result of soft demand for exports during the second
European recession. Over the longer term, the government hopes to establish a
new growth path that focuses on raising productivity. Singapore has attracted
major investments in pharmaceuticals and medical technology production and will
continue efforts to establish Singapore as Southeast Asia's financial and
high-tech hub.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
200700550-Z |
||||
|
COMPANY NAME |
: |
FIRST SOLAR FE HOLDINGS PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
10/01/2007 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
10, COLLYER QUAY, 10-01, OCEAN FINANCIAL CENTRE, 049315, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
10 COLLYER QUAY #10-01 OCEAN FINANCIAL CENTRE, 049315, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65312494 |
||||
|
FAX.NO. |
: |
N/A |
||||
|
CONTACT PERSON |
: |
LIAN KIM SENG ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
INVESTMENT HOLDING |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
100,000,001.00 ORDINARY SHARE, OF A VALUE OF USD 100,000,001.00 |
||||
|
SALES |
: |
N/A |
||||
|
NET WORTH |
: |
USD 131,041,000 [2012] |
||||
|
STAFF STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
POOR |
||||
|
PAYMENT |
: |
N/A |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) investment
holding.
The immediate and ultimate holding company of the Subject is FIRST
SOLAR, INC, a company incorporated in UNITED STATES.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
09/05/2014 |
USD 100,000,001.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
FIRST SOLAR, INC |
350, WEST WASHINGTON STREET, SUITE 600, TEMPE, ARIZON, 85281, UNITED
STATES. |
011156 |
100,000,001.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100,000,001.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
201024434E |
SINGAPORE |
FIRST SOLAR VIETNAM HOLDINGS PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
FIRST SOLAR (BEIJING) MANAGEMENT CONSULTANCY CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
758827T |
MALAYSIA |
FIRST SOLAR MALAYSIA SDN. BHD. |
100.00 |
11/02/2014 |
|
|
|
|
|
|
|
|
INDIA |
FIRST SOLAR POWER INDIA PRIVATE LIMITED |
99.99 |
31/12/2012 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
LIAN KIM SENG |
|
Address |
: |
33, WEST COAST RISE, 12-23, MONTEREY PARK CONDOMINIUM, 127476,
SINGAPORE. |
|
IC / PP No |
: |
S2586702E |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Date of Appointment |
: |
01/01/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
HO SOCK CHIN |
|
Address |
: |
333, CLEMENTI AVENUE 2, 11-98, 120333, SINGAPORE. |
|
IC / PP No |
: |
S1238565Z |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
10/01/2007 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
MR. P'NG SOO HONG |
|
Address |
: |
168-10-5, JALAN TANJUNG TOKONG, FETTES RESIDENCE, 11200 TANJONG
TOKONG, PULAU PINANG, MALAYSIA. |
|
|
|
|
|
New IC No |
: |
650630-07-5483 |
|
Date of Birth |
: |
30/06/1965 |
|
|
|
|
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
27/08/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 4
|
Name Of Subject |
: |
DAVID THOMAS BRADY |
|
Address |
: |
13343 N 101ST WAY SCOTTSDALE, AZ 85260, UNITED STATES. |
|
IC / PP No |
: |
471185292 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
27/08/2009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1) |
Name of Subject |
: |
LIAN KIM SENG |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
BDO LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
No company secretary was found in our databank.
Banking relations are maintained principally with :
|
1) |
Name |
: |
AXIS BANK LIMITED SINGAPORE BRANCH |
|
|
|
|
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201401341 |
04/02/2014 |
N/A |
AXIS BANK LIMITED SINGAPORE BRANCH |
- |
Unsatisfied |
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
|
|
|
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The staff from the registered office refused to disclose the Subject's
suppliers.
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The staff from the registered office refused to disclose the Subject's
clientele.
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) investment holding.
The staff from the registered office refused to disclose the Subject's
operation.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65312494 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
#10, COLLYER QUAY, NO 10-1, OCEAN FINANCIAL CENTRE, SINGAPORE 049315 |
|
Current Address |
: |
10 COLLYER QUAY #10-01 OCEAN FINANCIAL CENTRE, 049315, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 7th May 2014 we contacted one of the staff from the registered office and
she only provided limited information.
She refused to disclose the Subject's number of employees and fax number.
The Subject does not generate any turnover as it is only an investment holding
company.
|
|
||||||
|
Overall Assessment : |
||||||
|
The Subject has generated an unfavourable return on shareholders'
funds indicating that the management was inefficient in utilising its funds
to generate return. Due to its weak liquidity position, the Subject may face
working capital deficiency in meeting its short term financial obligations if
no fresh capital are injected into the Subject. 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. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : POOR |
||||||
|
Major Economic
Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
INDUSTRY : |
ECONOMY |
|
|
|
|
|
|
|
According to Ministry of Trade and Industry (MTI), the Singapore
economy is expected to grow by 1.0 to 3.0% in 2013 as growth in the global economy
is likely to remain subdued despite macroeconomic conditions stablising in
recent months of 2013. |
|
|
|
|
|
However, the global economic outlook is still clouded with
uncertainties. Notably, concerns remain over the extent of the fiscal cutback
with the budget sequester in the US and potential flareup of the debt crisis
in the Eurozone. Should any of these risks materialise, Singapore's economic
growth could come in lower than expected. |
|
|
|
|
|
Although resilient domestic demand in emerging Asia will provide some
support to global demand, it will not fully mitigate the effects of an
economic slowdown in the advanced economies. Consequently, Singapore's
externally-oriented sectors such as electronics and wholesale trade will
continue to perform poorly, while the financial services sector will be
affected by heightened uncertainties in the external environment.
Nevertheless, there will be some modest support to growth from the biomedical
manufacturing cluster and tourism-related sectors. The former will likely see
increased production of active pharmaceutical ingredients and biologics while
the latter will benefit from rising visitor arrivals from the region. |
|
|
|
|
|
For the whole of 2012, Singapore's GDP growth slowed to 1.3%, from
5.2% in 2011, mainly due to weakness in the externally-oriented sectors.
Manufacturing sector growth slowed sharply from 7.8% in the year 2011 to
0.1%. The hudge decline was largely due to a rebound in the output of the biomedical
manufacturing and transport engineering clusters, which together helped to
mitigate part of the fall in output in the electronics cluster. By contrast,
the construction sector growth accelerated from 6.3% to 8.2% in 2012, due to
the expansion in both public and private building activities. |
|
|
|
|
|
Growth in the services producing industries also moderated to 1.2% in
2012, compared to 4.6% in 2011. This was mainly due to the slowdown in
wholesale and retail trade, accommodation and food services as well as other
services industries. In particular, the wholesale and retail trade sector
contracted by 0.7%, compared to the 1.6% growth in year 2011. The
accommodation and food services as well as other services industries posted
lower gains of 2.8% and 0.1% respectively, compared to 8.2% and 6.3% in 2011.
|
|
|
|
|
|
For the whole of 2012, all sectors, except the wholesale and retail
trade, contributed to growth. Business services was the largest contributor with
0.4 percentage-points, followed by construction with 0.3 percentage-points
and transportation and storage at 0.2 percentagepoints. Besides, growth in
total demand moderated to 2.4%, compared to 4.2% in 2011. Domestic demand was
the key contributor to total demand growth, accounting for 2.2
percentage-points, or over 90 per cent, of the increase. |
|
|
|
|
|
In 2012, total domestic demand rose by 9.7%, following the 6.5%
increase in 2011. The growth in total domestic demand was broad-based across
consumption, gross fixed capital formation (GFCF) and changes in inventories.
The total consumption expenditure in 2012 grew slightly by 0.9%, easing from
the 3.7% growth in 2011. Public consumption expenditure fell by 3.6%,
reversing the 0.5% growth in 2011. Private consumption expenditure registered
a 2.2% gain, moderating from the 4.6% increase in the preceding year. |
|
|
|
|
|
Overall, the Singapore economy is expected to grow by 1.0 to 3.0% in
2013. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
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 |
USD |
USD |
|
|
|
|
|
TURNOVER |
0 |
0 |
|
Other Income |
4,650,000 |
158,150,000 |
|
|
---------------- |
---------------- |
|
Total Turnover |
4,650,000 |
158,150,000 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(9,398,000) |
51,571,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(9,398,000) |
51,571,000 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(9,398,000) |
51,571,000 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
40,439,000 |
(132,000) |
|
|
---------------- |
---------------- |
|
As restated |
40,439,000 |
(132,000) |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
31,041,000 |
51,439,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(11,000,000) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
31,041,000 |
40,439,000 |
|
|
============= |
============= |
|
|
|
|
|
Others |
5,000 |
2,000 |
|
|
---------------- |
---------------- |
|
|
5,000 |
2,000 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
Subsidiary companies |
141,875,000 |
140,258,000 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
141,875,000 |
140,258,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
141,875,000 |
140,258,000 |
|
|
|
|
|
Other debtors, deposits & prepayments |
13,000 |
13,000 |
|
Amount due from subsidiary companies |
41,000 |
41,000 |
|
Cash & bank balances |
3,182,000 |
175,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
3,236,000 |
229,000 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
145,111,000 |
140,487,000 |
|
|
============= |
============= |
|
|
|
|
|
Other creditors & accruals |
44,000 |
27,000 |
|
Amounts owing to holding company |
1,000 |
1,000 |
|
Amounts owing to subsidiary companies |
14,025,000 |
20,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
14,070,000 |
48,000 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(10,834,000) |
181,000 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
131,041,000 |
140,439,000 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
100,000,000 |
100,000,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
100,000,000 |
100,000,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
31,041,000 |
40,439,000 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
31,041,000 |
40,439,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
131,041,000 |
140,439,000 |
|
|
|
|
|
|
---------------- |
---------------- |
|
|
131,041,000 |
140,439,000 |
|
|
============= |
============= |
|
|
|
|
|
TYPES OF FUNDS |
|
|
|
Cash |
3,182,000 |
175,000 |
|
Net Liquid Funds |
3,182,000 |
175,000 |
|
Net Liquid Assets |
(10,834,000) |
181,000 |
|
Net Current Assets/(Liabilities) |
(10,834,000) |
181,000 |
|
Net Tangible Assets |
131,041,000 |
140,439,000 |
|
Net Monetary Assets |
(10,834,000) |
181,000 |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
14,070,000 |
48,000 |
|
Total Assets |
145,111,000 |
140,487,000 |
|
Net Assets |
131,041,000 |
140,439,000 |
|
Net Assets Backing |
131,041,000 |
140,439,000 |
|
Shareholders' Funds |
131,041,000 |
140,439,000 |
|
Total Share Capital |
100,000,000 |
100,000,000 |
|
Total Reserves |
31,041,000 |
40,439,000 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.23 |
3.65 |
|
Liquid Ratio |
0.23 |
4.77 |
|
Current Ratio |
0.23 |
4.77 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
0 |
0 |
|
Creditors Ratio |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.11 |
0.00 |
|
Times Interest Earned Ratio |
(1,878.60) |
25,786.50 |
|
Assets Backing Ratio |
1.31 |
1.40 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
0.00 |
0.00 |
|
Net Profit Margin |
0.00 |
0.00 |
|
Return On Net Assets |
(7.17) |
36.72 |
|
Return On Capital Employed |
(7.17) |
36.72 |
|
Return On Shareholders' Funds/Equity |
(7.17) |
36.72 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.21 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.