|
Report Date : |
11.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
BS GLOBAL RESOURCES PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
BS GLOBAL RESOURCES PTE. LTD |
|
|
|
|
Registered Office : |
111, North Bridge Road, 07-11, Peninsula Plaza, 179098 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
22.02.2011 |
|
|
|
|
Com. Reg. No.: |
201104377-C |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Coal, Iron Ore and Other Commodities. |
|
|
|
|
No. of Employees : |
8 [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 |
|
REGISTRATION NO. |
: |
201104377-C |
||||
|
COMPANY NAME |
: |
BS GLOBAL RESOURCES PRIVATE LIMITED |
||||
|
FORMER NAME |
: |
BS GLOBAL RESOURCES PTE. LTD. (07/10/2013) |
||||
|
INCORPORATION DATE |
: |
22/02/2011 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
111, NORTH BRIDGE ROAD, 07-11, PENINSULA
PLAZA, 179098, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
111 NORTH BRIDGE ROAD #07-11 PENINSULA
PLAZA,, 179098, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65098022 |
||||
|
FAX.NO. |
: |
65-65098023 |
||||
|
EMAIL |
: |
INFO@BSGROUP.IN |
||||
|
WEB SITE |
: |
WWW.BSGROUP.IN |
||||
|
CONTACT PERSON |
: |
AGRAWAL RAKESH ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF COAL, IRON ORE AND OTHER COMMODITIES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
6,506,330.00 ORDINARY SHARE, OF A VALUE OF SGD 6,506,330.00 |
||||
|
SALES |
: |
USD 91,295,486 [2014] |
||||
|
NET WORTH |
: |
USD 8,916,214 [2014] |
||||
|
STAFF STRENGTH |
: |
8 [2014] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
STRONG |
||||
|
PAYMENT |
: |
N/A |
||||
|
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) trading of coal, iron ore
and other commodities.
The
immediate holding company of the Subject is BS LIMITED, a company incorporated
in INDIA.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
07/11/2014 |
SGD
6,506,330.00 |
The
major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
BS
LIMITED |
504,
TRENDSET TOWERS, ROAD 2, BANJARA HILLS, HYDERABAD, ANDHRA PRADESH, 500034,
INDIA. |
T11UF2128 |
6,506,330.00 |
100.00 |
|
--------------- |
------ |
|||
|
6,506,330.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
AGRAWAL RAKESH SATYANARAYAN |
|
Address |
: |
H. 8-2-405/1, TO, 3, ROAD 6, BANJARA HILLS, HYDERABAD AP-03, INDIA. |
|
IC / PP No |
: |
H3204415 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
22/02/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
RAMASAMY JAYAPAL |
|
Address |
: |
24, BLOXHOME DRIVE, SERANGOON GARDEN ESTATE, 559719, SINGAPORE. |
|
IC / PP No |
: |
S1245368Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
13/11/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
RAJESH AGARWAL |
|
Address |
: |
103, D BLOCK, ROAD 6, TRENDSET VALLEY, VIEW APTS, BANJARA HILLS, HYDERABAD,
500034, INDIA. |
|
IC / PP No |
: |
Z1927421 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
22/02/2011 |
|
1) |
Name of Subject |
: |
AGRAWAL RAKESH |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
V. P. KUMARAN & CO. |
|
Auditor' Address |
: |
N/A |
|
Auditor |
: |
V. P. KUMARAN & CO. |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
NABOOBALAN S/O RAMASAMY NAIDU |
|
IC / PP No |
: |
S1410300G |
|
|
Address |
: |
NO.31,JALAN SS 4C/18, 47301 PETALING JAYA, SELANGOR, MALAYSIA. |
|
Banking relations are maintained principally with:
|
1) |
Name |
: |
MALAYAN BANKING BHD |
|
2) |
Name |
: |
PT BANK MANDIRI (PERSERO) TBK |
|
3) |
Name |
: |
UCO BANK |
ENCUMBRANCE
(S)
|
|
|||||
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
|
C201301182 |
22/01/2013 |
N/A |
UCO BANK |
- |
Unsatisfied |
|
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
|
LEGAL ACTION |
|
|||||||||
|
||||||||||
|
Code No |
: |
99 |
Case No |
: |
13118 |
|||||
|
Year |
: |
2013 |
Place |
: |
SINGAPORE |
|||||
|
Court |
: |
MAGISTRATE COURT |
||||||||
|
Date Filed |
: |
14/06/2013 |
||||||||
|
Solicitor Ref |
: |
VY.131591.D |
||||||||
|
Solicitor Firm |
: |
TEH YIP WONG & TAN |
||||||||
|
Plaintiff |
: |
HOGGER LESLIE RAY |
||||||||
|
Defendants |
: |
|
||||||||
|
Amount Claimed |
: |
21661.44 |
||||||||
|
Nature of Claim |
: |
SGD |
||||||||
|
Remark |
: |
OTHERS/MISCELLANEOUS |
||||||||
|
|
||||||||||
|
Code No |
: |
99 |
Case No |
: |
466 |
|||||
|
Year |
: |
2013 |
Place |
: |
SINGAPORE |
|||||
|
Court |
: |
SESSIONS COURT |
||||||||
|
Date Filed |
: |
23/05/2013 |
||||||||
|
Solicitor Ref |
: |
13.043.RKS.KH81.0 01.HE |
||||||||
|
Solicitor Firm |
: |
UNILEGAL LLC |
||||||||
|
Plaintiff |
: |
SHANTOU GUANQUAN ECONOMIC TRADE CO. LTD |
||||||||
|
Defendants |
: |
|
||||||||
|
Remark |
: |
SALE OF GOODS & SERVICES |
||||||||
|
|
||||||||||
|
Code No |
: |
99 |
Case No |
: |
5517 |
|||||
|
Year |
: |
2014 |
Place |
: |
SINGAPORE |
|||||
|
Court |
: |
MAGISTRATE COURT |
||||||||
|
Date Filed |
: |
25/03/2014 |
||||||||
|
Solicitor |
: |
PATELOO ERUTHIYANATHAN ASHOKAN |
||||||||
|
Solicitor Ref |
: |
PEA/GNE/13038994 |
||||||||
|
Solicitor Firm |
: |
KHATTARWONG LLP |
||||||||
|
Plaintiff |
: |
MOHAMED LATIFF BIN ABDUL RAHIM |
||||||||
|
Defendants |
: |
|
||||||||
|
Amount Claimed |
: |
43287 |
||||||||
|
Nature of Claim |
: |
SGD |
||||||||
|
Remark |
: |
EMPLOYMENT |
||||||||
|
|
||||||||||
|
Code No |
: |
99 |
Case No |
: |
1411 |
|||||
|
Year |
: |
2014 |
Place |
: |
SINGAPORE |
|||||
|
Court |
: |
DISTRICT COURT |
||||||||
|
Date Filed |
: |
14/05/2014 |
||||||||
|
Solicitor |
: |
RANVIR KUMAR SINGH |
||||||||
|
Solicitor Ref |
: |
13.043.RKS.KH81.001.HE |
||||||||
|
Solicitor Firm |
: |
UNILEGAL LLC |
||||||||
|
Plaintiff |
: |
SHANTOU GUANQUAN ECONOMIC TRADE CO. LTD |
||||||||
|
Defendants |
: |
|
||||||||
|
Amount Claimed |
: |
80000 |
||||||||
|
Remark |
: |
SALE OF GOODS |
||||||||
No winding up petition was found in our databank
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
CLIENTELE
|
|||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA PACIFIC |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
COAL, IRON ORE AND OTHER COMMODITIES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
8 |
8 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of coal, iron
ore and other commodities.
The Subject has forged strategic partnerships and relationships with mineral
resource producers and clients.
Through its network offices in Indonesia, China, Singapore and India, the
Subject offers customized solutions combined with high degree of
professionalism to cater to the requirements of clients.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65098022 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
8 BURN ROAD, # 11-09 TRIVEX BUILDING SINGAPORE 369977 |
|
Current Address |
: |
111 NORTH BRIDGE ROAD #07-11 PENINSULA PLAZA,, 179098, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she provided some information.
The Subject had shifted from the address provided.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2012 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2012 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
14.35% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.76% |
] |
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.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 |
[ |
24 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 |
[ |
2.50 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.50 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 |
[ |
0.56 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any interest
during the year. 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 : |
||||||
|
Generally, the Subject's performance has improved with higher 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 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 |
||||||
|
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
|
|
Over the years, the Subject has penetrated
into both the local and overseas market. The Subject has positioned itself in
the global market and is competing in the industry. Its stable clientele base
will enable the Subject to further enhance its business in the near term.
Being a small company, the Subject's business operation is supported by 8
employees. 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. 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. |
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
BS GLOBAL
RESOURCES PRIVATE LIMITED |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
|
Months |
12 |
12 |
13 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
91,295,486 |
86,840,852 |
25,774,650 |
|
Other Income |
24,799 |
2,325 |
218,420 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
91,320,285 |
86,843,177 |
25,993,070 |
|
Costs of Goods Sold |
- |
- |
(23,512,438) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
- |
- |
2,480,632 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,494,298 |
1,416,957 |
1,191,848 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,494,298 |
1,416,957 |
1,191,848 |
|
Taxation |
(214,678) |
(193,000) |
(140,843) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,279,620 |
1,223,957 |
1,051,005 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
2,274,962 |
1,051,005 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
2,274,962 |
1,051,005 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,554,582 |
2,274,962 |
1,051,005 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
3,554,582 |
2,274,962 |
1,051,005 |
|
============= |
============= |
============= |
|
|
BS GLOBAL
RESOURCES PRIVATE LIMITED |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
152,180 |
131,680 |
152,272 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
152,180 |
131,680 |
152,272 |
|
Stocks |
- |
- |
4,642,827 |
|
Trade debtors |
5,913,161 |
46,489,164 |
209,544 |
|
Other debtors, deposits & prepayments |
7,581,869 |
5,052,689 |
1,932,305 |
|
Short term deposits |
1,100,000 |
401,056 |
- |
|
Amount due from related companies |
- |
- |
1,390 |
|
Cash & bank balances |
20,604 |
136,649 |
409,644 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
14,615,634 |
52,079,558 |
7,195,710 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
14,767,814 |
52,211,238 |
7,347,982 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
- |
42,331,000 |
2,670,955 |
|
Other creditors & accruals |
597,521 |
95,503 |
81,283 |
|
Short term borrowings/Term loans |
- |
- |
1,430 |
|
Bill & acceptances payable |
5,000,001 |
2,000,001 |
- |
|
Amounts owing to director |
- |
- |
350,000 |
|
Provision for taxation |
254,078 |
148,140 |
140,843 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
5,851,600 |
44,574,644 |
3,244,511 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
8,764,034 |
7,504,914 |
3,951,199 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
8,916,214 |
7,636,594 |
4,103,471 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
5,361,632 |
5,361,632 |
3,052,466 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,361,632 |
5,361,632 |
3,052,466 |
|
Retained profit/(loss) carried forward |
3,554,582 |
2,274,962 |
1,051,005 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
3,554,582 |
2,274,962 |
1,051,005 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
8,916,214 |
7,636,594 |
4,103,471 |
|
---------------- |
---------------- |
---------------- |
|
|
8,916,214 |
7,636,594 |
4,103,471 |
|
|
============= |
============= |
============= |
|
|
BS GLOBAL
RESOURCES PRIVATE LIMITED |
|
TYPES OF FUNDS |
|||
|
Cash |
1,120,604 |
537,705 |
409,644 |
|
Net Liquid Funds |
(3,879,397) |
(1,462,296) |
409,644 |
|
Net Liquid Assets |
8,764,034 |
7,504,914 |
(691,628) |
|
Net Current Assets/(Liabilities) |
8,764,034 |
7,504,914 |
3,951,199 |
|
Net Tangible Assets |
8,916,214 |
7,636,594 |
4,103,471 |
|
Net Monetary Assets |
8,764,034 |
7,504,914 |
(691,628) |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
5,000,001 |
2,000,001 |
1,430 |
|
Total Liabilities |
5,851,600 |
44,574,644 |
3,244,511 |
|
Total Assets |
14,767,814 |
52,211,238 |
7,347,982 |
|
Net Assets |
8,916,214 |
7,636,594 |
4,103,471 |
|
Net Assets Backing |
8,916,214 |
7,636,594 |
4,103,471 |
|
Shareholders' Funds |
8,916,214 |
7,636,594 |
4,103,471 |
|
Total Share Capital |
5,361,632 |
5,361,632 |
3,052,466 |
|
Total Reserves |
3,554,582 |
2,274,962 |
1,051,005 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.19 |
0.01 |
0.13 |
|
Liquid Ratio |
2.50 |
1.17 |
0.79 |
|
Current Ratio |
2.50 |
1.17 |
2.22 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
0 |
0 |
66 |
|
Debtors Ratio |
24 |
195 |
3 |
|
Creditors Ratio |
0 |
178 |
41 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.56 |
0.26 |
0.00 |
|
Liabilities Ratio |
0.66 |
5.84 |
0.79 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
1.66 |
1.42 |
1.34 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
1.64 |
1.63 |
4.62 |
|
Net Profit Margin |
1.40 |
1.41 |
4.08 |
|
Return On Net Assets |
16.76 |
18.55 |
29.04 |
|
Return On Capital Employed |
16.76 |
18.55 |
29.04 |
|
Return On Shareholders' Funds/Equity |
14.35 |
16.03 |
25.61 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.45 |
|
|
1 |
Rs.97.76 |
|
Euro |
1 |
Rs.76.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
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.