|
Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
ELECON SINGAPORE PTE LTD |
|
|
|
|
Registered Office : |
10, Anson Road, 24-03, International Plaza, 079903 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
21.07.2000 |
|
|
|
|
Com. Reg. No.: |
200006402-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the (as a / as an) engineering on power generation
and palm oil. |
|
|
|
|
No of Employees : |
50 [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. |
: |
200006402-R |
|
COMPANY NAME |
: |
ELECON SINGAPORE PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
21/07/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
Private Limited |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
10, Anson Road, 24-03, International Plaza, 079903, Singapore. |
|
BUSINESS ADDRESS |
: |
10, Anson Road, #24-03 International Plaza, 079903, Singapore. |
|
TEL.NO. |
: |
65-62278258 |
|
FAX.NO. |
: |
65-62278942 |
|
CONTACT PERSON |
: |
PRAYASVIN BHANUBHAI PATEL ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
ENGINEERING ON POWER GENERATION AND PALM OIL |
|
ISSUED AND PAID UP CAPITAL |
: |
897,854.00 ORDINARY SHARE, OF A VALUE OF SGD 897,854.00 |
|
SALES |
: |
SGD 1,437,798 [2014] |
|
NET WORTH |
: |
SGD 783,623 [2014] |
|
STAFF STRENGTH |
: |
50 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
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) engineering on
power generation and palm oil.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
07/11/2014 |
SGD 897,854.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PRAYASVIN BHANUBHAI PATEL + |
'HONEY HOUSE', BAKROL ROAD, VALLABH VIDYANAGAR, GUJARAT STATE, 388120,
INDIA. |
B1915611 |
10.00 |
0.00 |
|
ELECON ENGINEERING COMPANY LIMITED |
ANAND- SOJITRA ROAD, VALLABH VIDYANAGAR, GUJARAT STATE, 388120, INDIA. |
T04UF1474H |
897,844.00 |
100.00 |
|
--------------- |
------ |
|||
|
897,854.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
TARUNA PRAYASVIN PATEL |
|
Address |
: |
HONEY HOUSE, BAKROL ROAD, VALLABH VIDYANAGAR, DISTRICT ANAND, GUJARAT
STATE, 388120, INDIA. |
|
IC / PP No |
: |
058242802 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
24/07/2006 |
DIRECTOR 2
|
Name Of Subject |
: |
SHAH VIPUKUMAR BHAGVANDAS |
|
Address |
: |
255, COMPASSVALE ROAD, 11-690, 540255, SINGAPORE. |
|
IC / PP No |
: |
S7063891F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
31/12/2008 |
DIRECTOR 3
|
Name Of Subject |
: |
PRAYASVIN BHANUBHAI PATEL |
|
Address |
: |
'HONEY HOUSE', BAKROL ROAD, VALLABH VIDYANAGAR, GUJARAT STATE, 388120,
INDIA. |
|
IC / PP No |
: |
B1915611 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
21/07/2000 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
PRAYASVIN BHANUBHAI PATEL |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
SMALLEY & SIMS PAC |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
EDNA PANSY LOW |
|
IC / PP No |
: |
S1344941D |
|
|
Address |
: |
416, SAUJANA ROAD, 07-58, 670416, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C20137222 |
20/12/2013 |
N/A |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED |
- |
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 |
: |
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 |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
INDIA |
|||
OPERATIONS
|
|
Services |
: |
POWER GENERATION AND PALM OIL |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
50 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) engineering on power
generation and palm oil.
The Subject refused to disclose its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62278258 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
N/A |
|
Current Address |
: |
10, ANSON ROAD, #24-03 INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
Match |
: |
N/A |
Other Investigations
On 7th November 2014 we contacted one of the staff from the Subject and collect
some information.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
3.06% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
62.97% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
13.23% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.91% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition.The Subject's profit fell sharply because of the high operating
costs incurred. The Subject's management had generated acceptable return for
its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
1 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 |
[ |
2.20 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.21 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 |
[ |
19.27 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 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 : |
||||||
|
Although the Subject's turnover had increased, its profits had declined
over the same corresponding period. This could be due to the stiffer market
competition and / or higher operating costs which lowered the Subject's
profit margin. 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
was a zero gearing company, it was solely dependant on its shareholders to
provide funds to finance its business. The Subject has good chance of getting
loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject : STRONG |
||||||
|
|
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
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 : |
CONSTRUCTION |
|
According to Building and Construction Authority (BCA), Construction
sector in Singapore is expected to remain a strong demand of between
SGD26-SGD32 billion in year 2013 boosted by stronger public housing and
infrastructure construction works. |
|
|
Public sector demand is expected to contribute about 53% of overall
industry demand, or SGD14 billion-SGD17 billion. Major public sector projects
to be awarded in 2013 include various contracts for the construction of
Singapore's new Thomson train line, the expansion of the Kallang Paya Lebar
Expressway and Tampines Expressway interchange as well as Nanyang
Technological University's Undergraduate Halls of Residence at Nanyang
Avenue/Crescent and Energy Market Authority's fourth storage tank for the
liquefied natural gas (LNG) terminal at Jurong Island. |
|
|
Private sector construction demand on the other hand, is expected to
moderate to SGD12-SGD15 billion in 2013, in light of slower domestic economic
growth and continued global economic uncertainties. Private residential
construction demand is projected to continue to soften in view of the
anticipated continual slow economic growth in 2013, coupled with the
significant supply of completed housing units over the next few years. |
|
|
Based on advance estimates, the construction sector grew by 5.9% on a
year-on-year basis in fourth quarter of year 2012, moderating from the 7.7%
growth in the preceding quarter. For the full year 2012, construction rose 8.8%
from 2.6% the previous year. Besides, the total construction demand was
sustained at a healthy SGD28.1 billion in 2012. |
|
|
Moreover, the total preliminary construction output (progress payments
made for work done) is estimated to be about SGD31 billion in 2012, about 7%
higher than the volume in 2011 and comparable to the 2009's record high. |
|
|
Forecast for 2014 and 2015, the average construction demand is
projected to be SGD20-SGD28 billion per annum. Barring any unforeseen
circumstances, this projection is plausible in view of the strong pipeline of
housing and infrastructure construction projects planned by the Government to
meet the needs of the population, despite the anticipated lower economic
growth rate in the coming years. |
|
|
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. |
|
ELECON SINGAPORE PTE LTD |
|
Financial Year
End |
2014-03-31 |
2013-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
1,437,798 |
1,395,119 |
|
Other Income |
91 |
16,395 |
|
---------------- |
---------------- |
|
|
Total Turnover |
1,437,889 |
1,411,514 |
|
Costs of Goods Sold |
(739,841) |
(551,225) |
|
---------------- |
---------------- |
|
|
Gross Profit |
698,048 |
860,289 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
125,602 |
339,159 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
125,602 |
339,159 |
|
Taxation |
(21,900) |
49,600 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
103,702 |
388,759 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(217,933) |
(606,692) |
|
---------------- |
---------------- |
|
|
As restated |
(217,933) |
(606,692) |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(114,231) |
(217,933) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(114,231) |
(217,933) |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Loan from holding company |
6,873 |
- |
|
Others |
- |
9,257 |
|
---------------- |
---------------- |
|
|
6,873 |
9,257 |
|
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
ELECON SINGAPORE PTE LTD |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
17,480 |
14,642 |
|
Deferred assets |
27,700 |
49,600 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
27,700 |
49,600 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
45,180 |
64,242 |
|
Stocks |
4,755 |
28,288 |
|
Trade debtors |
181,064 |
140,652 |
|
Other debtors, deposits & prepayments |
190,900 |
6,818 |
|
Short term deposits |
114,170 |
- |
|
Amount due from holding company |
85,167 |
- |
|
Amount due from related companies |
87,365 |
- |
|
Cash & bank balances |
684,794 |
405,680 |
|
Amount owing by shareholders |
- |
562,444 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,348,215 |
1,143,882 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,393,395 |
1,208,124 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
2,697 |
25,533 |
|
Other creditors & accruals |
173,980 |
5,043 |
|
Amounts owing to holding company |
341,398 |
- |
|
Amounts owing to related companies |
91,697 |
- |
|
Other liabilities |
- |
497,627 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
609,772 |
528,203 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
738,443 |
615,679 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
783,623 |
679,921 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
897,854 |
897,854 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
897,854 |
897,854 |
|
Retained profit/(loss) carried forward |
(114,231) |
(217,933) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(114,231) |
(217,933) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
783,623 |
679,921 |
|
---------------- |
---------------- |
|
|
783,623 |
679,921 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
ELECON SINGAPORE PTE LTD |
|
TYPES OF FUNDS |
||
|
Cash |
798,964 |
405,680 |
|
Net Liquid Funds |
798,964 |
405,680 |
|
Net Liquid Assets |
733,688 |
587,391 |
|
Net Current Assets/(Liabilities) |
738,443 |
615,679 |
|
Net Tangible Assets |
783,623 |
679,921 |
|
Net Monetary Assets |
733,688 |
587,391 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
609,772 |
528,203 |
|
Total Assets |
1,393,395 |
1,208,124 |
|
Net Assets |
783,623 |
679,921 |
|
Net Assets Backing |
783,623 |
679,921 |
|
Shareholders' Funds |
783,623 |
679,921 |
|
Total Share Capital |
897,854 |
897,854 |
|
Total Reserves |
(114,231) |
(217,933) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
1.31 |
0.77 |
|
Liquid Ratio |
2.20 |
2.11 |
|
Current Ratio |
2.21 |
2.17 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
1 |
7 |
|
Debtors Ratio |
46 |
37 |
|
Creditors Ratio |
1 |
17 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
0.78 |
0.78 |
|
Times Interest Earned Ratio |
19.27 |
37.64 |
|
Assets Backing Ratio |
0.87 |
0.76 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
8.74 |
24.31 |
|
Net Profit Margin |
7.21 |
27.87 |
|
Return On Net Assets |
16.91 |
51.24 |
|
Return On Capital Employed |
16.91 |
51.24 |
|
Return On Shareholders' Funds/Equity |
13.23 |
57.18 |
|
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.61.45 |
|
|
1 |
Rs.97.76 |
|
Euro |
1 |
Rs76.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.