|
Report Date : |
04.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
STEPHAN MACHINERY ASIA PACIFIC PTE. LTD. |
|
|
|
|
Formerly Known As : |
IMA INDUSTRIES ASIA PACIFIC PTE. LTD. |
|
|
|
|
Registered Office : |
23, Tagore Lane, 03-12, Tagore 23 Warehouse, 787601 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
13.10.1994 |
|
|
|
|
Com. Reg. No.: |
199407425-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is principally engaged in the trading of machinery for food
products processing. |
|
|
|
|
No of Employees : |
9 [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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 0.6% 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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
199407425-K |
||||
|
COMPANY NAME |
: |
STEPHAN
MACHINERY ASIA PACIFIC PTE. LTD. |
||||
|
FORMER NAME |
: |
IMA INDUSTRIES ASIA PACIFIC PTE. LTD.
(30/04/2013) |
||||
|
INCORPORATION DATE |
: |
13/10/1994 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
23, TAGORE LANE, 03-12, TAGORE 23 WAREHOUSE, 787601, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
23, TAGORE LANE, 03-12, TAGORE 23 WAREHOUSE, 787601, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-64557670 |
||||
|
FAX.NO. |
: |
65-64556220 |
||||
|
WEB SITE |
: |
WWW.STEPHAN-MACHINERY.COM |
||||
|
CONTACT PERSON |
: |
KIM KRISTIAN ANDERSEN ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF MACHINERY FOR FOOD PRODUCTS PROCESSING |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
200,000.00 ORDINARY SHARE, OF A VALUE OF SGD 200,000.00 |
||||
|
SALES |
: |
EUR 5,034,774 [2013] |
||||
|
NET WORTH |
: |
EUR 1,364,419 [2013] |
||||
|
STAFF STRENGTH |
: |
9 [2014] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
N/A |
||||
|
CURRENCY EXPOSURE |
: |
N/A |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a minimum
of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act and the company must file its annual returns, together with
its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) trading of
machinery for food products processing.
The immediate holding company of the Subject is STEPHAN MACHINERY GMBH,
a company incorporated in GERMANY.
Share Capital
History
|
Date |
Issue & Paid Up Capital |
|
19/09/2014 |
SGD 200,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
STEPHAN MACHINERY GMBH |
STEPHANSPLATZ 2, 31789 HAMELN, GERMANY. |
T13UF1729L |
200,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
200,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. KIM KRISTIAN ANDERSEN |
|
Address |
: |
12E, BRIGHT HILL CRESCENT, CENTURION 12,
573987, SINGAPORE. |
|
IC / PP No |
: |
G5848173X |
|
Date of Appointment |
: |
02/05/2007 |
DIRECTOR 2
|
Name Of Subject |
: |
OLAF PEHMOLLER |
|
Address |
: |
31171, NORDSTEMMEN TOPPERWEG 12 A,
GERMANY. |
|
IC / PP No |
: |
C1PL9FM7H |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
01/06/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
KURT GUNTER DAHLING |
|
Address |
: |
22359-HAMBURG, GUSTAVWEIHRAUCH-WEG-21,
GERMANY. |
|
IC / PP No |
: |
C1W56K1PP |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
01/06/2013 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
KIM KRISTIAN ANDERSEN |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LEE SHWU FANG |
|
IC / PP No |
: |
S2657786A |
|
|
Address |
: |
128, TANJONG PAGAR ROAD, 088535,
SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
COMMERZBANK AKTIENGESELLSCHAFT |
ENCUMBRANCE
(S)
|
|||||
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C201313561 |
07/10/2013 |
N/A |
COMMERZBANK AKTIENGESELLSCHAFT |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the subject
has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its supplier.
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 |
[ |
] |
|||||||||
CLIENTELE
|
|||||
|
Local |
: |
N/A |
|||
|
Overseas |
: |
N/A |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
N/A |
|||
The Subject refused to disclose its clientele.
OPERATIONS
|
|||
|
Goods Traded |
: |
DIARY AND CONFECTIONARY PRODUCTS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
9 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally
engaged in the (as a / as an) trading of machinery for food products
processing.
The Subject has a sales office and pilot plant facility in Singapore.
The Subject has branches in United States, Canada, France, Belgium, Great
Britain, Netherlands, Austria.
The Subject trading food processing machines for Convenience Food, Dairy
(processed cheese) and Confectionary.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-64557670 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
23, TAGORE LANE, 03-12, TAGORE 23
WAREHOUSE,787601 SINGAPORE |
|
Current Address |
: |
23, TAGORE LANE, 03-12, TAGORE 23
WAREHOUSE, 787601, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
On 30th October 2014, we contacted one of the staff from the Subject and she
provided limited information on the Subject.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
38.79% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
22.96% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
14.35% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
14.58% |
] |
|
|
The shrinking turnover could be the result
of more entrants into the market which eroded the Subject's market share.The
dip in profit could be due to the stiff market competition which reduced the Subject's
profit margin. The Subject's management had generated acceptable return for
its shareholders using its assets. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
30 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
34 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
The Subject'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 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 |
[ |
1.45 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.66 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 |
: |
Favourable |
[ |
87.70 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.04 Times |
] |
|
|
The interest cover showed that the Subject
was able to service the interest. The favourable interest cover could
indicate that the Subject was making enough profit to pay for the interest
accrued. The Subject was lowly geared thus it had a low financial risk. The
Subject was mainly financed by its shareholders' funds and internally
generated funds. In times of economic slowdown / downturn, the Subject being
a lowly geared company, will be able to compete better than those companies
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. With the favourable interest cover, the
Subject could be able to service all the accrued interest without facing any
difficulties. The Subject as a lowly geared company, will be more secured
compared to those highly geared companies. It has the ability to meet all its
long term obligations. |
||||||
|
Overall
financial condition of the Subject : STRONG |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
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
ANALYSIS
|
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sector contracted by 1.5% in the fourth
quarter of 2012, extending the 0.2% decline in the preceding quarter. For the
whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in
2011. The sector was weighed down primarily by the wholesale trade segment.
In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the
1.4% growth in 2011. Growth of the retail trade segment also moderated to
2.0%, from 3.2% in the year 2011. |
|
|
The domestic wholesale trade index grew by 1.2% in the fourth quarter of
2012, an improvement from the 5.4% decline in the third quarter. This was
partly due to an increase in the sales of chemicals & chemical products
and ship chandlers & bunkering. For the full year of 2012, the domestic
wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011.
The foreign wholesale trade index grew by 8.6% in the fourth quarter, an
increase from the 6.6% growth in the third quarter. The expansion was partly
due to resilient sales of petroleum & petroleum products. For the whole
of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the
4.3% increase in 2011. |
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%,
extending the 0.3% decline in the third quarter. Excluding motor vehicles,
retail sales volume grew by 0.4%, a slight moderation compared to the 1.5%
gain in the third quarter of 2012. The sales volume of motor vehicles fell by
11% in the fourth quarter of 2012, after contracting by 6.1% in the third
quarter. The sales of several discretionary items also declined in the fourth
quarter. Besides, the sales of optical goods & books in 2012 fell by
3.6%, while the sales of telecommunications apparatus & computers
declined by 1.4%. |
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to the
2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail
sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods
& toiletries registered the largest increase (9.3%) in sales, followed by
telecommunications apparatus & computers (6.9%). By contrast, the sales
of watches & jewellery (-2.2%) and optical goods & books (-3.6%)
declined. |
|
|
OVERALL INDUSTRY
OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
STEPHAN
MACHINERY ASIA PACIFIC PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
EUR |
EUR |
|
TURNOVER |
5,034,774 |
8,226,073 |
|
---------------- |
---------------- |
|
|
Total Turnover |
5,034,774 |
8,226,073 |
|
Costs of Goods Sold |
(3,600,791) |
(6,823,578) |
|
---------------- |
---------------- |
|
|
Gross Profit |
1,433,983 |
1,402,495 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
205,737 |
267,044 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
205,737 |
267,044 |
|
Taxation |
(10,008) |
(22,871) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
195,729 |
244,173 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
1,062,548 |
818,375 |
|
---------------- |
---------------- |
|
|
As restated |
1,062,548 |
818,375 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,258,277 |
1,062,548 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,258,277 |
1,062,548 |
|
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
||
|
Others |
2,373 |
2,144 |
|
---------------- |
---------------- |
|
|
2,373 |
2,144 |
|
|
============= |
============= |
BALANCE
SHEET
|
|
STEPHAN
MACHINERY ASIA PACIFIC PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
137,952 |
185,863 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
137,952 |
185,863 |
|
Stocks |
410,070 |
419,066 |
|
Trade debtors |
464,110 |
2,427,530 |
|
Other debtors, deposits & prepayments |
82,440 |
55,599 |
|
Amount due from holding company |
773,480 |
617,077 |
|
Amount due from related companies |
- |
208,692 |
|
Cash & bank balances |
1,508,789 |
534,575 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
3,238,889 |
4,262,539 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
3,376,841 |
4,448,402 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade creditors |
61,170 |
2,036,376 |
|
Other creditors & accruals |
816,701 |
408,974 |
|
Amounts owing to holding company |
1,037,254 |
712,313 |
|
Provision for taxation |
21,331 |
21,411 |
|
Lease payables |
12,924 |
15,879 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,949,380 |
3,194,953 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,289,509 |
1,067,586 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
1,427,461 |
1,253,449 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
106,142 |
106,142 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
106,142 |
106,142 |
|
Retained profit/(loss) carried forward |
1,258,277 |
1,062,548 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,258,277 |
1,062,548 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
1,364,419 |
1,168,690 |
|
Lease obligations |
50,888 |
60,447 |
|
Deferred taxation |
12,154 |
24,312 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
63,042 |
84,759 |
|
---------------- |
---------------- |
|
|
1,427,461 |
1,253,449 |
|
|
============= |
============= |
FINANCIAL
RATIO
|
|
STEPHAN
MACHINERY ASIA PACIFIC PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
1,508,789 |
534,575 |
|
Net Liquid Funds |
1,508,789 |
534,575 |
|
Net Liquid Assets |
879,439 |
648,520 |
|
Net Current Assets/(Liabilities) |
1,289,509 |
1,067,586 |
|
Net Tangible Assets |
1,427,461 |
1,253,449 |
|
Net Monetary Assets |
816,397 |
563,761 |
|
BALANCE SHEET
ITEMS |
||
|
Total Borrowings |
50,888 |
60,447 |
|
Total Liabilities |
2,012,422 |
3,279,712 |
|
Total Assets |
3,376,841 |
4,448,402 |
|
Net Assets |
1,427,461 |
1,253,449 |
|
Net Assets Backing |
1,364,419 |
1,168,690 |
|
Shareholders' Funds |
1,364,419 |
1,168,690 |
|
Total Share Capital |
106,142 |
106,142 |
|
Total Reserves |
1,258,277 |
1,062,548 |
|
LIQUIDITY
(Times) |
||
|
Cash Ratio |
0.77 |
0.17 |
|
Liquid Ratio |
1.45 |
1.20 |
|
Current Ratio |
1.66 |
1.33 |
|
WORKING CAPITAL
CONTROL (Days) |
||
|
Stock Ratio |
30 |
19 |
|
Debtors Ratio |
34 |
108 |
|
Creditors Ratio |
6 |
109 |
|
SOLVENCY RATIOS
(Times) |
||
|
Gearing Ratio |
0.04 |
0.05 |
|
Liabilities Ratio |
1.47 |
2.81 |
|
Times Interest Earned Ratio |
87.70 |
125.55 |
|
Assets Backing Ratio |
13.45 |
11.81 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating Profit Margin |
4.09 |
3.25 |
|
Net Profit Margin |
3.89 |
2.97 |
|
Return On Net Assets |
14.58 |
21.48 |
|
Return On Capital Employed |
14.58 |
21.48 |
|
Return On Shareholders' Funds/Equity |
14.35 |
20.89 |
|
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.61.41 |
|
|
1 |
Rs.98.06 |
|
Euro |
1 |
Rs.76.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SMN |
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.