EXECUTIVE
SUMMARY
|
REGISTRATION
NO.
|
:
|
201025959-N
|
|
COMPANY NAME
|
:
|
TARDERIV
INTERNATIONAL PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
08/12/2010
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
Private Limited
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
10, Jalan
Besar, 10-12, Sim Lim Tower, 208787, Singapore.
|
|
BUSINESS
ADDRESS
|
:
|
10, Jalan
Besar, 10-12, Sim Lim Tower, 208787, Singapore.
|
|
TEL.NO.
|
:
|
65-62938089
|
|
FAX.NO.
|
:
|
65-62935756
|
|
CONTACT PERSON
|
:
|
ANANTHANARAYANAN
JANAKIRAMAN ( DIRECTOR )
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
GENERAL
WHOLESALE TRADE & OTHER INVESTMENT HOLDING COMPANIES
|
|
|
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
500,000.00 ORDINARY
SHARE, OF A VALUE OF USD 500,000.00
|
|
|
|
|
SALES
|
:
|
USD 303,860
[2014]
|
|
NET WORTH
|
:
|
USD 1,043,447
[2014]
|
|
|
|
|
STAFF STRENGTH
|
:
|
N/A
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
STRONG
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT
CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
N/A
|
|
CURRENCY
EXPOSURE
|
:
|
N/A
|
|
GENERAL
REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY
OUTLOOK
|
:
|
AVERAGE 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) general
wholesale trade & other investment holding companies.
The immediate holding company of the Subject is THIRUMALAI CHEMICALS
LIMITED, a company incorporated in INDIA.
Share Capital History
|
Date
|
Issue &
Paid Up Capital
|
|
04/11/2014
|
USD 500,000.00
|
The major shareholder(s) of the Subject
are shown as follows :
|
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
THIRUMALAI
CHEMICALS LIMITED
|
THIRUMALAI
HOUSE, ROAD 29, SION EAST MUMBAI, 400022, INDIA.
|
T10UF3713H
|
500,000.00
|
100.00
|
|
|
|
---------------
|
------
|
|
|
|
500,000.00
|
100.00
|
|
|
|
============
|
=====
|
+ Also Director
The Subject's interest in other companies
(Subsidiaries/Associates) are shown as follow :
|
Local No
|
Country
|
Company
|
(%)
|
As At
|
|
SINGAPORE
|
CHEMINVEST PTE
LTD
|
100.00
|
31/03/2014
|
|
|
|
|
|
DIRECTOR 1
|
Name Of
Subject
|
:
|
NARAYANASWAMY
ULAGANATHAN
|
|
Address
|
:
|
PT 10580,
JALAN DELIMA 8, LOT 144, 24000 KEMAMAN, TERENGGANU, MALAYSIA.
|
|
IC / PP No
|
:
|
Z1714022
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
MALAYSIAN
INDIAN
|
|
Date of
Appointment
|
:
|
27/03/2012
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
ANANTHANARAYANAN
JANAKIRAMAN
|
|
Address
|
:
|
SHRESHT, OLD, 14,
KASTURI RANGAN, ALWARPET, CHENNAI, 600018, INDIA.
|
|
IC / PP No
|
:
|
G6935091
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
INDIAN
|
|
Date of
Appointment
|
:
|
12/07/2013
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of
Subject
|
:
|
SHIV RAJ KAPUR
|
|
Address
|
:
|
122, SIMEI
STREET, 1, 11-436, 520122, SINGAPORE.
|
|
IC / PP No
|
:
|
S2640515G
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
12/07/2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of Subject
|
:
|
ANANTHANARAYANAN
JANAKIRAMAN
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
Auditor
|
:
|
MGI N RAJAN
ASSOCIATES
|
|
Auditor'
Address
|
:
|
N/A
|
|
|
|
|
|
|
|
1)
|
Company
Secretary
|
:
|
VENKATARAMAIYER
SIVARAMAKRISHNAN
|
|
IC / PP No
|
:
|
S0033476F
|
|
|
|
|
|
Address
|
:
|
666, YISHUN
AVENUE, 4, 05-159, 760666, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
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.
|
|
|
SOURCES OF RAW
MATERIALS:
|
|
Local
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
The Subject is a service provider.
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
|
[
|
|
]
|
|
Average 61-90
Days
|
[
|
X
|
]
|
|
|
Fair 91-120
Days
|
[
|
|
]
|
|
Poor >120
Days
|
[
|
|
]
|
|
|
|
|
|
|
|
Local
|
:
|
N/A
|
|
|
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Subject's company secretary refused to disclose its clientele.
|
Goods Traded
|
:
|
GENERAL
WHOLESALE TRADE
|
|
|
|
|
Services
|
:
|
INVESTMENT
HOLDING
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) general wholesale
trade & other investment holding companies.
The Subject's registered office refused to disclose its operation.
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
65-62938089
|
|
Match
|
:
|
N/A
|
|
|
|
|
Address
Provided by Client
|
:
|
N/A
|
|
Current
Address
|
:
|
10, JALAN
BESAR, 10-12, SIM LIM TOWER, 208787, SINGAPORE.
|
|
Match
|
:
|
N/A
|
|
|
|
Other
Investigations
On 7th November 2014 we contacted one of the staff from the Subject's company
secretary and she provided limited information.
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Decreased
|
[
|
(0.00%)
|
]
|
|
|
Profit/(Loss)
Before Tax
|
:
|
Increased
|
[
|
6.65%
|
]
|
|
|
Return on
Shareholder Funds
|
:
|
Acceptable
|
[
|
15.96%
|
]
|
|
|
Return on Net Assets
|
:
|
Unfavourable
|
[
|
2.12%
|
]
|
|
|
|
|
|
|
|
|
|
The lower
turnover could be due to the unfavourable market conditions.The Subject's
management have been efficient in controlling its operating costs. The Subject's
management had generated acceptable return for its shareholders using its
assets.
|
|
|
|
|
|
|
|
|
Working
Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Nil
|
[
|
0 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Favourable
|
[
|
0 Days
|
]
|
|
|
Creditors
Ratio
|
:
|
Favourable
|
[
|
0 Days
|
]
|
|
|
|
|
|
|
|
|
|
As the Subject
is a service oriented company, the Subject does not need to keep 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
|
[
|
2.17 Times
|
]
|
|
|
Current Ratio
|
:
|
Favourable
|
[
|
2.17 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
|
:
|
Unfavourable
|
[
|
1.28 Times
|
]
|
|
|
|
|
|
|
|
|
|
The Subject's
interest cover was nil as it did not pay any interest during the year. The Subject
was highly geared, thus it had a high financial risk. The Subject was
dependent on loans to finance its business needs. In times of economic
downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and
to repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment :
|
|
|
|
|
|
|
|
Due to the
efficient control of its operating costs, the Subject was able to remain
profitable despite lower turnover achieved during the year. 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's gearing
level was high and its going concern will be in doubt if there is no
injection of additional shareholders' funds in times of economic downturn and
/ or high interest rates.
|
|
|
|
|
|
|
|
|
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 :
|
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
|
|
Incorporated in 2010, the Subject is a Private Limited company, focusing on
general wholesale trade & other investment holding companies. The
Subject has been in business for less than 5 years and it has slowly been
building up contact with its clients while competing in the industry.
Having strong support from its holding company has enabled the Subject to
remain competitive despite the challenging business environment.
Overall, we regard that the Subject's management capability is average.
This indicates that the Subject has greater potential to improve its
business performance and raising income for the Subject.
Return on shareholders' funds of the Subject was at an acceptable range
which indicated that the management was efficient in utilising its funds to
generate income. The Subject is in good liquidity position with its current
liabilities well covered by it current assets. Hence, it has sufficient
working capital to meet its short term financial obligations. The high
gearing ratio clearly implied that the Subject was supported by more debt
than equity. Thus, the Subject is exposed to high financial risk. Given a
positive net worth standing at USD 1,043,447, the Subject should be able to
maintain its business in the near terms.
Having a strong assets backing, the Subject possesses latent assets as
collateral for further financial extension. Hence, it has good chance of
getting loans if the needs arises.
The Subject's payment habit is average. With its adequate working capital,
the Subject should be able to pay its short term debts.
The industry shows an upward trend and this trend is very likely to sustain
in the near terms. Hence, the Subject is expected to benefit from the
favourable outlook of the industry.
Based on the above condition, we recommend credit be granted to the Subject
promptly.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
|
|
TARDERIV
INTERNATIONAL 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
|
USD
|
USD
|
|
|
|
|
TURNOVER
|
303,860
|
303,860
|
|
----------------
|
----------------
|
|
Total Turnover
|
303,860
|
303,860
|
|
----------------
|
----------------
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
166,749
|
156,348
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
166,749
|
156,348
|
|
Taxation
|
(227)
|
(8,216)
|
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
166,522
|
148,132
|
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
As previously
reported
|
376,925
|
228,793
|
|
----------------
|
----------------
|
|
As restated
|
376,925
|
228,793
|
|
----------------
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
543,447
|
376,925
|
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD
|
543,447
|
376,925
|
|
|
=============
|
=============
|
|
|
|
|
TARDERIV
INTERNATIONAL PTE. LTD.
|
|
LONG TERM
INVESTMENTS/OTHER ASSETS
|
|
|
|
Subsidiary
companies
|
6,733,916
|
8,000,000
|
|
----------------
|
----------------
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS
|
6,733,916
|
8,000,000
|
|
|
|
|
----------------
|
----------------
|
|
TOTAL LONG
TERM ASSETS
|
6,733,916
|
8,000,000
|
|
|
|
|
Other debtors,
deposits & prepayments
|
3,926
|
-
|
|
Amount due
from subsidiary companies
|
2,112,067
|
628,005
|
|
Cash &
bank balances
|
613
|
566
|
|
----------------
|
----------------
|
|
TOTAL CURRENT
ASSETS
|
2,116,606
|
628,571
|
|
----------------
|
----------------
|
|
TOTAL ASSET
|
8,850,522
|
8,628,571
|
|
=============
|
=============
|
|
|
|
|
Other
creditors & accruals
|
6,838
|
27,571
|
|
Interest
payable
|
290,551
|
212,188
|
|
Amounts owing
to holding company
|
666,667
|
-
|
|
Provision for
taxation
|
9,686
|
11,887
|
|
----------------
|
----------------
|
|
TOTAL CURRENT LIABILITIES
|
973,742
|
251,646
|
|
----------------
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
1,142,864
|
376,925
|
|
----------------
|
----------------
|
|
TOTAL NET
ASSETS
|
7,876,780
|
8,376,925
|
|
=============
|
=============
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
Ordinary share
capital
|
500,000
|
500,000
|
|
----------------
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
500,000
|
500,000
|
|
|
|
|
Retained
profit/(loss) carried forward
|
543,447
|
376,925
|
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
543,447
|
376,925
|
|
|
|
|
----------------
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
1,043,447
|
876,925
|
|
|
|
|
Long term
loans
|
1,333,333
|
2,000,000
|
|
Others
|
5,500,000
|
5,500,000
|
|
----------------
|
----------------
|
|
TOTAL LONG
TERM LIABILITIES
|
6,833,333
|
7,500,000
|
|
----------------
|
----------------
|
|
7,876,780
|
8,376,925
|
|
=============
|
=============
|
|
|
|
|
TARDERIV
INTERNATIONAL PTE. LTD.
|
|
TYPES OF FUNDS
|
|
|
|
Cash
|
613
|
566
|
|
Net Liquid
Funds
|
613
|
566
|
|
Net Liquid
Assets
|
1,142,864
|
376,925
|
|
Net Current
Assets/(Liabilities)
|
1,142,864
|
376,925
|
|
Net Tangible
Assets
|
7,876,780
|
8,376,925
|
|
Net Monetary
Assets
|
(5,690,469)
|
(7,123,075)
|
|
BALANCE SHEET
ITEMS
|
|
|
|
Total
Borrowings
|
1,333,333
|
2,000,000
|
|
Total
Liabilities
|
7,807,075
|
7,751,646
|
|
Total Assets
|
8,850,522
|
8,628,571
|
|
Net Assets
|
7,876,780
|
8,376,925
|
|
Net Assets
Backing
|
1,043,447
|
876,925
|
|
Shareholders'
Funds
|
1,043,447
|
876,925
|
|
Total Share
Capital
|
500,000
|
500,000
|
|
Total Reserves
|
543,447
|
376,925
|
|
LIQUIDITY
(Times)
|
|
|
|
Cash Ratio
|
0.00
|
0.00
|
|
Liquid Ratio
|
2.17
|
2.50
|
|
Current Ratio
|
2.17
|
2.50
|
|
WORKING
CAPITAL CONTROL (Days)
|
|
|
|
Stock Ratio
|
0
|
0
|
|
Debtors Ratio
|
0
|
0
|
|
Creditors
Ratio
|
0
|
0
|
|
SOLVENCY
RATIOS (Times)
|
|
|
|
Gearing Ratio
|
1.28
|
2.28
|
|
Liabilities
Ratio
|
7.48
|
8.84
|
|
Times Interest
Earned Ratio
|
0.00
|
0.00
|
|
Assets Backing
Ratio
|
15.75
|
16.75
|
|
PERFORMANCE
RATIO (%)
|
|
|
|
Operating
Profit Margin
|
54.88
|
51.45
|
|
Net Profit
Margin
|
54.80
|
48.75
|
|
Return On Net
Assets
|
2.12
|
1.87
|
|
Return On
Capital Employed
|
2.12
|
1.87
|
|
Return On Shareholders'
Funds/Equity
|
15.96
|
16.89
|
|
Dividend Pay
Out Ratio (Times)
|
0.00
|
0.00
|
|
NOTES TO
ACCOUNTS
|
|
|
|
Contingent
Liabilities
|
0
|
0
|
|