|
Report Date : |
21.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
COLORCON ASIA PACIFIC PTE LTD |
|
|
|
|
Registered Office : |
1, Magazine Road, 04-01, Central Mall, 059567 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
16.10.1998 |
|
|
|
|
Com. Reg. No.: |
199805075-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Supply and support of formulated products for the pharmaceutical
industry. |
|
|
|
|
No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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. |
: |
199805075-W |
|
COMPANY NAME |
: |
COLORCON ASIA PACIFIC PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
16/10/1998 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
1, MAGAZINE ROAD, 04-01, CENTRAL MALL, 059567, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
NO 1 MAGAZINE ROAD #04-01 CENTRAL MALL OFFICE TOWER,
059567, SINGAPORE. |
|
TEL.NO. |
: |
65-64380318 |
|
FAX.NO. |
: |
65-64380178 |
|
WEB SITE |
: |
WWW.COLORCON.COM |
|
CONTACT PERSON |
: |
NG LIAM CHING ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
SUPPLY AND SUPPORT OF FORMULATED PRODUCTS FOR THE
PHARMACEUTICAL INDUSTRY |
|
ISSUED AND PAID UP CAPITAL |
: |
11,700,431.00 ORDINARY SHARE, OF A VALUE OF SGD
11,700,431.00 |
|
SALES |
: |
USD 43,290,437 [2013] |
|
NET WORTH |
: |
USD 16,382,019 [2013] |
|
STAFF STRENGTH |
: |
20 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
GOOD |
|
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) supply and support of formulated products for the pharmaceutical industry.
The immediate holding company of the Subject is COLORCON, INC., a company incorporated in UNITED STATES.
|
Date |
Issue & Paid
Up Capital |
|
12/11/2014 |
SGD 11,700,431.00 |
The major
shareholder(s) of the Subject are shown as follows:
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
COLORCON, INC. |
415, MOYER BOULEVARD, P.O. BOX 24, WEST POINT, PA 19486-0024,
UNITED STATES. |
T060UF0473 |
11,700,431.00 |
100.00 |
|
--------------- |
------ |
|||
|
11,700,431.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
CHINA |
COLORCON (SHANGHAI) TRADING CO., LTD |
100.00 |
31/12/2013 |
|
|
CHINA |
SHANGHAI COLORCON COATING TECHNOLOGY CO., LTD. |
100.00 |
31/12/2013 |
|
DIRECTOR 1
|
Name Of Subject |
: |
MARTTI TAPANI HEDMAN |
|
Address |
: |
1200, MEADOW DRIVE, BLUE BELL PA 19422, UNITED STATES. |
|
IC / PP No |
: |
PY9048336 |
|
Nationality |
: |
FINN |
|
Date of Appointment |
: |
05/06/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
SIMON TASKER |
|
Address |
: |
688, CHUNDONG ROAD, MINHANG, SHANGHAI, CHINA. |
|
IC / PP No |
: |
761276085 |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
28/02/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
NG LIAM CHING |
|
Address |
: |
87,ELLINGTON SQUARE, SONGAPORE 568977, SINGAPORE. |
|
IC / PP No |
: |
S1555889Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/11/2009 |
DIRECTOR 4
|
Name Of Subject |
: |
CHAN SENG FATT |
|
Address |
: |
160, LENTOR LOOP, 12-01, BULLION PARK, 789094, SINGAPORE. |
|
IC / PP No |
: |
S2571423G |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
04/07/2006 |
|
1) |
Name of Subject |
: |
NG LIAM CHING |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
KHOONG LAI KHENG |
|
IC / PP No |
: |
S7579232H |
|
|
Address |
: |
301D, ANCHORVALE DRIVE, 02-25, 544301, SINGAPORE. |
|
|
|
|
|
|
|
2) |
Company Secretary |
: |
DESMOND LEE HENG CHOONG |
|
|
IC / PP No |
: |
S2588967C |
|
Address |
: |
30, MARINE CRESCENT, 07-179, MARINE CRESCENT VILLE,
440030, SINGAPORE. |
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank againt the
Subject whether the subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES OF RAW MATERIALS |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that :
|
OVERALL PAYMENT HABIT |
|||||||||
|
Prompt 0-30 Days |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
||||
|
Local |
YES |
|
Domestic Markets |
SINGAPORE |
|
Overseas |
YES |
|
Export Market |
ASIA |
|
Credit Term |
N/A |
|
Payment Mode |
CHEQUES |
|
Goods Traded |
FORMULATED PRODUCTS FOR THE PHARMACEUTICAL |
|
|
|
|
Total Number of Employees: |
|
|
|
|
|
YEAR |
2014 |
|
GROUP |
N/A |
|
COMPANY |
20 |
|
Branch |
NO |
The Subject is principally engaged in the (as a / as an) supply and support of
formulated products for the pharmaceutical industry.
The Subject's core business is the design and technical support of advanced coating systems, modified release technologies and functional excipients for pharmaceutical dosage forms.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-64380318 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
1 MARINA BOULEVARD #28-00 ONE MARINA BOULEVARD SINGAPORE
018989 |
|
Current Address |
: |
NO 1 MAGAZINE ROAD #04-01 CENTRAL MALL OFFICE TOWER,
059567, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject is not aware of the address provided.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
172.80% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
191.77% |
] |
|
|
The fluctuating turnover reflects the fierce competition
among the existing and new market players.The Subject's management have been efficient
in controlling its operating costs. Generally the Subject was profitable. The
favourable return on shareholders' funds and return on net assets indicate
that the Subject's management was efficient in utilising the assets to
generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
11 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
45 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
15 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 |
[ |
2.05 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.22 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the
Subject in order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any
interest during the year. The Subject had no gearing and hence it had virtually
no financial risk. The Subject was financed by its shareholders' funds and
internally generated fund. During the economic downturn, the Subject, having
a zero gearing, will be able to compete better than those which are highly
geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the turnover was erratic, the Subject had
maintained a steady growth in its profit. This indicate the management's efficiency
in controlling its costs and profitability. The Subject was in good liquidity
position with its total current liabilities well covered by its total current
assets. With its current net assets, the Subject should be able to repay its
short term obligations. The Subject did not make any interest payment during
the year. The Subject was dependent on its shareholders' funds to finance its
business needs. The Subject was a zero gearing company, it was solely
dependant on its shareholders to provide funds to finance its business. The
Subject has good chance of getting loans, if the needs arises. |
||||||
|
Overall financial condition of the
Subject : 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 : |
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 |
|
Incorporated in 1998, the Subject is a Private Limited company, focusing on supply and support of formulated products for the pharmaceutical industry. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a good reputation in the market. It should have received supports from its regular customers. The Subject have a strong capital position of SGD 11,700,431. We are confident with the Subject's business and its future growth prospect. Having strong support from its holding company has enabled the Subject to remain competitive despite the challenging business environment.
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 20 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.
We noted that both the turnover and profits have increased compared to the
previous year. The higher profit could be due to increase in turnover and
better control over its operating costs. Based on the higher profitability, the
Subject has generated a favourable return based on its existing shareholders'
funds 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. Being a zero geared
company, the Subject virtually has no financial risk as it is mainly dependent
on its internal funds to finance its business. Given a positive net worth
standing at USD 16,382,019, the Subject should be able to maintain its business
in the near terms.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the Subject
has a good control over its resources.
We regard that the Subject's overall payment habit is prompt. The Subject had a
favourable creditors' ratio as evidenced by its favourable collection days.
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.
In view of the above favourable condition, we recommend credit be proceeded to
the Subject with favourable term.
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
COLORCON
ASIA PACIFIC PTE LTD |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
USD |
USD |
SGD |
|
TURNOVER |
43,290,437 |
35,163,776 |
38,781,200 |
|
Other Income |
17,905,168 |
18,748,767 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
61,195,605 |
53,912,543 |
38,781,200 |
|
Costs of Goods Sold |
(21,040,960) |
(17,221,995) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
40,154,645 |
36,690,548 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
32,340,006 |
29,667,966 |
8,511,446 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
32,340,006 |
29,667,966 |
8,511,446 |
|
Taxation |
(4,031,382) |
(2,970,674) |
(1,398,795) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
28,308,624 |
26,697,292 |
7,112,651 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
4,963,136 |
7,066,022 |
(5,354,394) |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
4,963,136 |
7,066,022 |
(5,354,394) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
33,271,760 |
33,763,314 |
1,758,257 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(23,284,158) |
(28,800,178) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
9,987,602 |
4,963,136 |
1,758,257 |
|
COLORCON
ASIA PACIFIC PTE LTD |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
662,310 |
452,190 |
9,782,179 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||
|
Subsidiary companies |
6,592,979 |
6,592,979 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
6,592,979 |
6,592,979 |
- |
|
Others |
30,396 |
51,542 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
30,396 |
51,542 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
7,285,685 |
7,096,711 |
9,782,179 |
|
Stocks |
1,286,012 |
1,140,093 |
- |
|
Trade debtors |
5,296,423 |
4,330,169 |
- |
|
Other debtors, deposits & prepayments |
619,867 |
630,748 |
- |
|
Amount due from related companies |
245,433 |
110,533 |
- |
|
Cash & bank balances |
10,011,867 |
5,344,513 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
17,459,602 |
11,556,056 |
9,421,859 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
24,745,287 |
18,652,767 |
19,204,038 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
888,907 |
602,338 |
- |
|
Other creditors & accruals |
1,410,038 |
1,147,774 |
- |
|
Amounts owing to holding company |
1,071,205 |
1,031,271 |
- |
|
Amounts owing to related companies |
2,193,484 |
2,222,950 |
- |
|
Provision for taxation |
2,317,758 |
1,978,505 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
7,881,392 |
6,982,838 |
5,745,350 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
9,578,210 |
4,573,218 |
3,676,509 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
16,863,895 |
11,669,929 |
13,458,688 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
6,392,666 |
6,392,666 |
11,700,431 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
6,392,666 |
6,392,666 |
11,700,431 |
|
Exchange equalisation/fluctuation reserve |
1,751 |
5,608 |
- |
|
Retained profit/(loss) carried forward |
9,987,602 |
4,963,136 |
1,758,257 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
9,989,353 |
4,968,744 |
1,758,257 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
16,382,019 |
11,361,410 |
13,458,688 |
|
Deferred taxation |
88,876 |
25,584 |
- |
|
Others |
393,000 |
282,935 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
481,876 |
308,519 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
16,863,895 |
11,669,929 |
13,458,688 |
|
COLORCON
ASIA PACIFIC PTE LTD |
|
TYPES OF FUNDS |
|||
|
Cash |
10,011,867 |
5,344,513 |
- |
|
Net Liquid Funds |
10,011,867 |
5,344,513 |
- |
|
Net Liquid Assets |
8,292,198 |
3,433,125 |
3,676,509 |
|
Net Current Assets/(Liabilities) |
9,578,210 |
4,573,218 |
3,676,509 |
|
Net Tangible Assets |
16,833,499 |
11,618,387 |
13,458,688 |
|
Net Monetary Assets |
7,810,322 |
3,124,606 |
3,676,509 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
- |
|
Total Liabilities |
8,363,268 |
7,291,357 |
5,745,350 |
|
Total Assets |
24,745,287 |
18,652,767 |
19,204,038 |
|
Net Assets |
16,863,895 |
11,669,929 |
13,458,688 |
|
Net Assets Backing |
16,382,019 |
11,361,410 |
13,458,688 |
|
Shareholders' Funds |
16,382,019 |
11,361,410 |
13,458,688 |
|
Total Share Capital |
6,392,666 |
6,392,666 |
11,700,431 |
|
Total Reserves |
9,989,353 |
4,968,744 |
1,758,257 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
1.27 |
0.77 |
- |
|
Liquid Ratio |
2.05 |
1.49 |
- |
|
Current Ratio |
2.22 |
1.65 |
1.64 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
11 |
12 |
- |
|
Debtors Ratio |
45 |
45 |
- |
|
Creditors Ratio |
15 |
13 |
- |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.00 |
0.00 |
- |
|
Liabilities Ratio |
0.51 |
0.64 |
0.43 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
- |
|
Assets Backing Ratio |
2.63 |
1.82 |
1.15 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
74.70 |
84.37 |
21.95 |
|
Net Profit Margin |
65.39 |
75.92 |
18.34 |
|
Return On Net Assets |
191.77 |
254.23 |
63.24 |
|
Return On Capital Employed |
191.43 |
253.11 |
63.24 |
|
Return On Shareholders' Funds/Equity |
172.80 |
234.98 |
52.85 |
|
Dividend Pay Out Ratio (Times) |
0.82 |
1.08 |
- |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.55 |
|
|
1 |
Rs.97.52 |
|
Euro |
1 |
Rs.76.48 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
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.