|
Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
N.P. FOODS (SINGAPORE) PTE LTD |
|
|
|
|
Registered Office : |
1, Woodlands Link, 738719 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.06.2012 |
|
|
|
|
Date of Incorporation : |
22.05.1987 |
|
|
|
|
Com. Reg. No.: |
198701412-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacturing of Food Flavours Seasoning |
|
|
|
|
No. of Employees : |
37 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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. |
: |
198701412-M |
||||
|
COMPANY NAME |
: |
N.P. FOODS (SINGAPORE) PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
22/05/1987 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
1, WOODLANDS LINK, 738719, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
1 WOODLANDS LINK, 738719, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-67562777 |
||||
|
FAX.NO. |
: |
65-67562555 |
||||
|
WEB SITE |
: |
WWW.NPSIN.COM |
||||
|
CONTACT PERSON |
: |
ALEX GO LAU ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURING OF FOOD FLAVOURS SEASONING |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
7,200,000.00 ORDINARY SHARE, OF A VALUE OF SGD 7,200,000.00 |
||||
|
SALES |
: |
SGD 12,193,898 [2012] |
||||
|
NET WORTH |
: |
SGD 10,897,156 [2012] |
||||
|
STAFF STRENGTH |
: |
37 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
PROMPT |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
MATURE |
||||
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited
company, the Subject must have at least two directors. A private limited
company is a separate legal entity from its shareholders. As a separate legal
entity, the Subject is capable of owning assets, entering into contracts, sue
or be sued by other companies. The liabilities of the shareholders are to the
extent of the equity they have taken up and the creditors cannot claim on
shareholders' personal assets even if the Subject is insolvent. The Subject is
governed by the Companies Act and the company must file its annual returns,
together with its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) manufacturing
of food flavours seasoning.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
15/02/2013 |
SGD 7,200,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
OSAMU NAGAI + |
14, AMBER GARDENS, 22-01, AMBER PARK, 439960, SINGAPORE. |
F1023918N |
2,750,000.00 |
38.19 |
|
NAPA TRADING & INVESTMENT (S) PTE LTD |
14, AMBER GARDENS, 22-01, AMBER PARK, 439960, SINGAPORE. |
199201075K |
1,450,016.00 |
20.14 |
|
ALEX GO LAU + |
64, M H DEL PILAR ST, SFMD QUEZON CITY, PHILIPPINES. |
A0775292 |
1,324,757.00 |
18.40 |
|
AFICO INCORPORATED |
64M, H DEL PILAR ST CORNER, ROOSEVELT AVE SAN FRANCISCO, DEL MONTE,
QUEZON CITY MANILA, PHILIPPINES. |
S87UF0219J |
885,976.00 |
12.31 |
|
TAKATA KORYO CO LTD |
22-2 7-CHOME TSUKAGUCHIHONMACHI AMAGASAKI-CITY HYOGO, PREF 661, JAPAN. |
S87UF0242H |
600,000.00 |
8.33 |
|
N.P. & CO. INC |
2-8-9, KATSUYAMA TENNOJI-KU, OSAKA JAPAN 543, JAPAN. |
S87UF0420K |
189,251.00 |
2.63 |
|
--------------- |
------ |
|||
|
7,200,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
THAILAND |
N.P. FOODS TECH |
100.00 |
30/06/2011 |
|
|
INDONESIA |
PT NP FOODS INDONESIA |
100.00 |
30/06/2011 |
|
DIRECTOR 1
|
Name Of Subject |
: |
SEOW SOO CHAN |
|
Address |
: |
456, CORPORATION ROAD, 04-07, PARC VISTA, 649813, SINGAPORE. |
|
IC / PP No |
: |
S1485364B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
25/06/1999 |
DIRECTOR 2
|
Name Of Subject |
: |
NG AI PENG |
|
Address |
: |
231, BISHAN STREET 23, 18-01, 570231, SINGAPORE. |
|
IC / PP No |
: |
S7104825Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/10/2003 |
DIRECTOR 3
|
Name Of Subject |
: |
ALEX GO LAU |
|
Address |
: |
64, M H DEL PILAR ST, SFMD QUEZON CITY, PHILIPPINES. |
|
IC / PP No |
: |
A0775292 |
|
Nationality |
: |
FILIPINO |
|
Date of Appointment |
: |
07/08/1987 |
DIRECTOR 4
|
Name Of Subject |
: |
OSAMU NAGAI |
|
Address |
: |
14, AMBER GARDENS, 22-01, AMBER PARK, 439960, SINGAPORE. |
|
IC / PP No |
: |
F1023918N |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
22/05/1987 |
|
1) |
Name of Subject |
: |
ALEX GO LAU |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
OSAMU NAGAI |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
TONY OEI & COMPANY |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
SEE GUAT NGO |
|
IC / PP No |
: |
S1287660B |
|
|
Address |
: |
613, CLEMENTI WEST STREET 1, 07-350, 120613, SINGAPORE. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
9301949 |
10/05/1993 |
ALL MONIES |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C200700865 |
30/01/2007 |
ALL MONIES |
UNITED OVERSEAS BANK LIMITED |
- |
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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
37 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacturing of food
flavours seasoning.
The Subject has been in the seasoning manufacturing business ever since 1987.
The Subject focuses on the food seasoning products.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-67562777 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
NO 1, WOODLANDS LINK, SINGAPORE - 738719 |
|
Current Address |
: |
1 WOODLANDS LINK, 738719, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 8th May 2014 we contacted one of the staff from the Subject and she provided
some information.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
3.62% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
62.40% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
1.34% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
1.00% |
] |
|
|
The lower turnover could be due to the unfavourable market
conditions.The Subject's profit fell sharply because of the high operating
costs incurred. The unfavourable return on shareholders' funds could indicate
that the Subject was inefficient in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
79 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
115 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
25 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. The Subject's debtors
ratio was high. The Subject should tighten its credit control and improve its
collection period. 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 |
[ |
5.78 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
8.19 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 : |
||||||
|
The Subject's performance deteriorated over the years with lower
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 : FAIR |
||||||
|
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 : |
MANUFACTURING |
|
The manufacturing sector contracted by 1.1% in the fourth quarter of
2012, led by declines in the electronics and precision engineering clusters.
These clusters were weighed down by weak global demand for semiconductors and
semiconductor-related equipment. For the whole year of 2012, the
manufacturing sector grew by 0.1%, significantly lower than the 7.8% recorded
in 2011 when the sector was boosted by a surge in the growth of the
biomedical manufacturing cluster. |
|
|
Output of the biomedical manufacturing cluster grew by 2.4% in the
fourth quarter. The expansion was driven by the medical technology segment
which grew by a healthy 9.2%, benefitting from robust export demand for
medical devices. The pharmaceuticals segment also grew by a modest 1.1%. For
2012, the biomedical manufacturing cluster expanded by 9.9%. |
|
|
Output of the transport engineering cluster expanded by 4.9% in the
fourth quarter. The aerospace segment grew by 6.2%, supported by higher
demand for repair jobs from commercial airlines. Similarly, the marine &
offshore engineering segment expanded by 5.0%, on the back of higher
contributions from oil rig projects and oilfield equipment components. In the
year 2012, the transport engineering cluster surged by 11%. |
|
|
The output of the precision engineering cluster shrank by 1.3% in the
fourth quarter. The decline was led by the 5.3% contraction in the machinery
& systems segment, which saw weak export demand for semiconductor-related
equipment. On the other hand, the precision modules & components segment
grew by 2.9%, supported by higher production of optical instruments &
photographic equipment and electronic connectors. In 2012, the precision
engineering cluster expanded by 1.3%. |
|
|
The general manufacturing cluster's output grew by 1.2% in the fourth
quarter, driven by the 6.4% growth in the miscellaneous industries segment.
The segment's growth was supported by higher production of batteries and
constructionrelated materials. By contrast, the printing and food, beverages
& tobacco segments declined by 6.4% and 1.3% respectively. For 2012, the
general manufacturing cluster grew by 2.0%. |
|
|
The chemicals cluster's output grew by 7.7% in the fourth quarter. The
petrochemicals and petroleum segments registered growth of 9.3% and 6.3%
respectively, partly due to the low base from plant shutdowns in end of 2011.
The specialty chemicals segment also expanded by 8.0% on the back of higher
regional demand. For the year 2012, the chemicals cluster declined by 0.4%,
primarily due to weak regional demand for specialty chemicals in the second
and third quarter of 2012. |
|
|
Output of the electronics cluster contracted by 10% in the fourth
quarter, led by the semiconductors and computer peripherals segments which
contracted by 13% and 15% respectively. By contrast, the data storage segment
grew by 7.8%, mainly due to the low base in end of 2011 when floods in
Thailand had disrupted the supply chain for data storage products. For the
whole of 2012, the electronics cluster contracted by 11%. |
|
|
OVERALL INDUSTRY OUTLOOK : MATURE |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
Financial Year
End |
2012-06-30 |
2011-06-30 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
12,193,898 |
12,651,809 |
|
---------------- |
---------------- |
|
|
Total Turnover |
12,193,898 |
12,651,809 |
|
Costs of Goods Sold |
(7,301,674) |
(7,785,738) |
|
---------------- |
---------------- |
|
|
Gross Profit |
4,892,224 |
4,866,071 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
109,414 |
291,029 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
109,414 |
291,029 |
|
Taxation |
37,000 |
- |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
146,414 |
291,029 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
3,550,742 |
3,259,713 |
|
---------------- |
---------------- |
|
|
As restated |
3,550,742 |
3,259,713 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,697,156 |
3,550,742 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
3,697,156 |
3,550,742 |
|
============= |
============= |
|
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
3,021,058 |
3,117,929 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||
|
Subsidiary companies |
- |
566,272 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
566,272 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
3,021,058 |
3,684,201 |
|
Stocks |
2,643,349 |
2,246,409 |
|
Trade debtors |
3,849,217 |
3,691,150 |
|
Other debtors, deposits & prepayments |
194,272 |
258,544 |
|
Short term deposits |
500,000 |
500,000 |
|
Amount due from subsidiary companies |
- |
67,369 |
|
Amount due from related companies |
42,849 |
- |
|
Cash & bank balances |
1,742,013 |
1,294,248 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
8,971,700 |
8,057,720 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
11,992,758 |
11,741,921 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
494,581 |
719,902 |
|
Other creditors & accruals |
502,941 |
271,277 |
|
Amounts owing to related companies |
98,080 |
- |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,095,602 |
991,179 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
7,876,098 |
7,066,541 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
10,897,156 |
10,750,742 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
7,200,000 |
7,200,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
7,200,000 |
7,200,000 |
|
Retained profit/(loss) carried forward |
3,697,156 |
3,550,742 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
3,697,156 |
3,550,742 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
10,897,156 |
10,750,742 |
|
---------------- |
---------------- |
|
|
10,897,156 |
10,750,742 |
|
|
============= |
============= |
|
TYPES OF FUNDS |
||
|
Cash |
2,242,013 |
1,794,248 |
|
Net Liquid Funds |
2,242,013 |
1,794,248 |
|
Net Liquid Assets |
5,232,749 |
4,820,132 |
|
Net Current Assets/(Liabilities) |
7,876,098 |
7,066,541 |
|
Net Tangible Assets |
10,897,156 |
10,750,742 |
|
Net Monetary Assets |
5,232,749 |
4,820,132 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
1,095,602 |
991,179 |
|
Total Assets |
11,992,758 |
11,741,921 |
|
Net Assets |
10,897,156 |
10,750,742 |
|
Net Assets Backing |
10,897,156 |
10,750,742 |
|
Shareholders' Funds |
10,897,156 |
10,750,742 |
|
Total Share Capital |
7,200,000 |
7,200,000 |
|
Total Reserves |
3,697,156 |
3,550,742 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
2.05 |
1.81 |
|
Liquid Ratio |
5.78 |
5.86 |
|
Current Ratio |
8.19 |
8.13 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
79 |
65 |
|
Debtors Ratio |
115 |
106 |
|
Creditors Ratio |
25 |
34 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.10 |
0.09 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
1.51 |
1.49 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
0.90 |
2.30 |
|
Net Profit Margin |
1.20 |
2.30 |
|
Return On Net Assets |
1.00 |
2.71 |
|
Return On Capital Employed |
1.00 |
2.71 |
|
Return On Shareholders' Funds/Equity |
1.34 |
2.71 |
|
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.59.47 |
|
|
1 |
Rs.99.70 |
|
Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.