|
Report Date : |
22.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
WPG |
|
|
|
|
Formerly Known As : |
DA & DA ELECTRONICS PTE. LTD. |
|
|
|
|
Registered Office : |
16, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
20.09.2006 |
|
|
|
|
Com. Reg. No.: |
200613820-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Electronic Components |
|
|
|
|
No. of Employees : |
160 |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
|
REGISTRATION
NO. |
: |
200613820-H |
|
COMPANY
NAME |
: |
WPG |
|
FORMER
NAME |
: |
DA &
DA ELECTRONICS PTE. LTD. (02/07/2012) |
|
INCORPORATION
DATE |
: |
20/09/2006 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS |
: |
16, |
|
BUSINESS
ADDRESS |
: |
16, |
|
TEL.NO. |
: |
65-64701198 |
|
FAX.NO. |
: |
N/A |
|
CONTACT
PERSON |
: |
CHAI KIM
YIN ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF ELECTRONIC COMPONENTS |
|
|
|
|
|
ISSUED
AND PAID UP CAPITAL |
: |
7,633,600.00
ORDINARY SHARE, OF A VALUE OF SGD 7,633,600.00 |
|
|
|
|
|
SALES |
: |
USD
239,552,257 [2013] |
|
NET WORTH |
: |
USD
5,811,524 [2013] |
|
|
|
|
|
STAFF
STRENGTH |
: |
160
[2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
FAIR |
|
PAYMENT |
: |
FAIR |
|
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)
wholesale of electronic components.
The
immediate holding company of the Subject is WPG INTERNATIONAL (CI) LIMITED, a
company incorporated in CAYMAN ISLANDS.
Capital
History
|
Date |
Issue
& Paid Up Capital |
|
20/11/2014 |
SGD
7,633,600.00 |
The major
shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
WPG
INTERNATIONAL (CI) LIMITED |
SCOTIA
CENTRE, P.O. BOX 2804, GEORGE TOWN, GRAND CAYMAN KY1- 1112, 4TH FLOOR, CAYMAN
ISLANDS. |
T10UF2371 |
7,633,600.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
7,633,600.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also
Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
|
THAILAND |
WPG
(THAILAND) CO., LIMITED |
100.00 |
31/12/2013 |
|
|
|
|
|
|
|
364053W |
MALAYSIA |
WPG
MALAYSIA SDN. BHD. |
100.00 |
31/12/2013 |
|
|
|
|
|
|
|
|
PHILIPPINES |
WPG
ELECTRONICS PHILIPPINES INC. |
100.00 |
31/12/2013 |
|
|
|
|
|
|
|
|
INDIA |
WPG INDIA
ELECTRONICS PVT. LTD. |
99.90 |
31/12/2013 |
DIRECTOR
1
|
Name Of
Subject |
: |
HUANG,
WEI-HSIANG @ SIMON HUANG |
|
Address |
: |
6F, 30,
LANE 71, SECTION 1, HANGZHOU S. ROAD, ZHONGZHENG DISTRICT, TAIPEI, TAIWAN. |
|
IC / PP
No |
: |
131385393 |
|
Nationality |
: |
TAIWANESE |
|
Date of
Appointment |
: |
17/08/2010 |
DIRECTOR
2
|
Name Of
Subject |
: |
CHAI KIM
YIN |
|
Address |
: |
53, JALAN
MAS PUTEH, PASIR PANJANG GARDENS, 128644, SINGAPORE. |
|
IC / PP
No |
: |
S2554307F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
11/07/2013 |
DIRECTOR
3
|
Name Of
Subject |
: |
LIN TSAI
LI @ BARRY LIN |
|
Address |
: |
6, MARINA
BOULEVARD, 19-22, THE SAIL @ MARINA BAY, 018985, SINGAPORE. |
|
IC / PP
No |
: |
S2689685A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
01/01/2014 |
|
1) |
Name of
Subject |
: |
CHAI KIM
YIN |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS
LLP |
|
Auditor'
Address |
: |
N/A |
|
1) |
Company
Secretary |
: |
CHIN YING
YING |
|
|
IC / PP
No |
: |
S8478902Z |
|
|
|
|
|
|
|
Address |
: |
308,
SHUNFU ROAD, 04-153, 570308, 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The subject
refused to disclose its suppliers.
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 |
[ |
|
] |
|
|
Fair
91-120 Days |
[ |
X |
] |
|
Poor
>120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele
|
Goods
Traded |
: |
ELECTRONIC
COMPONENTS
|
|
YEAR |
2014 |
|
|
GROUP |
N/A |
|
|
COMPANY |
160 |
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
electronic components.
The Subject 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 |
: |
65-64701198 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
16, TAI
SENG STREET, 05- 00,534138 SINGAPORE |
|
Current
Address |
: |
16, TAI
SENG STREET, 05- 00, 534138, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided limited
information.
She refused to disclose its fax number.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Erratic |
[ |
2011 -
2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2011 -
2013 |
] |
|
|
Return on
Shareholder Funds |
: |
Acceptable |
[ |
16.00% |
] |
|
|
Return on
Net Assets |
: |
Acceptable |
[ |
22.55% |
] |
|
|
|
|
|
|
|
|
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The higher profit could be attributed to the increase in
turnover. The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
|
|
|
|
|
|
|
|
Working
Capital Control |
|
|
|
|
|
|
|
Stock
Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
|
|
|
|
|
|
|
|
The
Subject's stocks were moving fast thus reducing its holding cost. This had
reduced funds being tied up in stocks. The favourable debtors' days could be
due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
|
|
|
|
|
|
|
|
Liquidity |
|
|
|
|
|
|
|
Liquid
Ratio |
: |
Favourable |
[ |
1.08
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.08
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 |
: |
Acceptable |
[ |
8.63
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
1.85
Times |
] |
|
|
|
|
|
|
|
|
|
|
The
Subject's interest cover was slightly low. If there is no sharp fall in its
profit or sudden increase in the interest rates, we believe the Subject is
able to generate sufficient income to service its interest and repay the
loans. 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 : |
|
|
|
|
|
|
|
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 had an acceptable interest cover. If there is no
sudden sharp increase in interest rate or fall in the Subject's profit, we do
believe the Subject is able to generate sufficient cash flow to service its
interest payment. 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 : FAIR |
||||||
|
|
|
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 |
|
|
|
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
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 |
FULL |
|
Currency |
USD |
USD |
USD |
|
|
|
|
|
|
TURNOVER |
239,552,257 |
14,270,012 |
15,291,615 |
|
Other
Income |
1,181,245 |
1,683,549 |
834,999 |
|
|
---------------- |
---------------- |
---------------- |
|
Total
Turnover |
240,733,502 |
15,953,561 |
16,126,614 |
|
Costs of
Goods Sold |
(228,857,430) |
(13,448,192) |
(14,279,038) |
|
|
---------------- |
---------------- |
---------------- |
|
Gross
Profit |
11,876,072 |
2,505,369 |
1,847,576 |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,161,406 |
162,806 |
(313,115) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,161,406 |
162,806 |
(313,115) |
|
Taxation |
(231,282) |
(89,392) |
(72,423) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS)
AFTER TAXATION |
930,124 |
73,414 |
(385,538) |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As
previously reported |
(768,826) |
(842,240) |
(456,702) |
|
|
---------------- |
---------------- |
---------------- |
|
As
restated |
(768,826) |
(842,240) |
(456,702) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
161,298 |
(768,826) |
(842,240) |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
161,298 |
(768,826) |
(842,240) |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|
|
|
|
Others |
152,295 |
17,220 |
6,408 |
|
|
---------------- |
---------------- |
---------------- |
|
|
152,295 |
17,220 |
6,408 |
|
|
============= |
============= |
============= |
|
ASSETS
EMPLOYED: |
|
|
|
|
FIXED
ASSETS |
468,575 |
829,351 |
1,775,622 |
|
|
|
|
|
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|
|
|
|
Subsidiary
companies |
3,996,050 |
3,945,800 |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
3,996,050 |
3,945,800 |
- |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
LONG TERM ASSETS |
4,464,625 |
4,775,151 |
1,775,622 |
|
|
|
|
|
|
Stocks |
51,363 |
- |
717,945 |
|
Trade
debtors |
4,989,288 |
- |
1,965,500 |
|
Other
debtors, deposits & prepayments |
122,544 |
94,135 |
27,285 |
|
Amount
due from related companies |
10,829,920 |
359,412 |
2,469,816 |
|
Cash
& bank balances |
2,270,735 |
1,461,166 |
1,024,313 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
CURRENT ASSETS |
18,263,850 |
1,914,713 |
6,204,859 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
ASSET |
22,728,475 |
6,689,864 |
7,980,481 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
Trade
creditors |
210,178 |
74,626 |
987,183 |
|
Other
creditors & accruals |
2,722,966 |
1,293,527 |
1,523,481 |
|
Short
term borrowings/Term loans |
10,742,166 |
- |
- |
|
Amounts
owing to related companies |
2,923,461 |
277,806 |
880,395 |
|
Provision
for taxation |
303,799 |
103,333 |
- |
|
Other
liabilities |
- |
- |
509,013 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
CURRENT LIABILITIES |
16,902,570 |
1,749,292 |
3,900,072 |
|
|
---------------- |
---------------- |
---------------- |
|
NET
CURRENT ASSETS/(LIABILITIES) |
1,361,280 |
165,421 |
2,304,787 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET
ASSETS |
5,825,905 |
4,940,572 |
4,080,409 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE
CAPITAL |
|
|
|
|
Ordinary
share capital |
5,650,226 |
5,650,226 |
4,850,226 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
SHARE CAPITAL |
5,650,226 |
5,650,226 |
4,850,226 |
|
|
|
|
|
|
Retained
profit/(loss) carried forward |
161,298 |
(768,826) |
(842,240) |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
RESERVES |
161,298 |
(768,826) |
(842,240) |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS'
FUNDS/EQUITY |
5,811,524 |
4,881,400 |
4,007,986 |
|
|
|
|
|
|
Deferred
taxation |
14,381 |
59,172 |
72,423 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL
LONG TERM LIABILITIES |
14,381 |
59,172 |
72,423 |
|
|
---------------- |
---------------- |
---------------- |
|
|
5,825,905 |
4,940,572 |
4,080,409 |
|
|
============= |
============= |
============= |
|
TYPES
OF FUNDS |
|
|
|
|
Cash |
2,270,735 |
1,461,166 |
1,024,313 |
|
Net
Liquid Funds |
2,270,735 |
1,461,166 |
1,024,313 |
|
Net
Liquid Assets |
1,309,917 |
165,421 |
1,586,842 |
|
Net
Current Assets/(Liabilities) |
1,361,280 |
165,421 |
2,304,787 |
|
Net
Tangible Assets |
5,825,905 |
4,940,572 |
4,080,409 |
|
Net
Monetary Assets |
1,295,536 |
106,249 |
1,514,419 |
|
BALANCE
SHEET ITEMS |
|
|
|
|
Total
Borrowings |
10,742,166 |
0 |
0 |
|
Total
Liabilities |
16,916,951 |
1,808,464 |
3,972,495 |
|
Total
Assets |
22,728,475 |
6,689,864 |
7,980,481 |
|
Net
Assets |
5,825,905 |
4,940,572 |
4,080,409 |
|
Net
Assets Backing |
5,811,524 |
4,881,400 |
4,007,986 |
|
Shareholders'
Funds |
5,811,524 |
4,881,400 |
4,007,986 |
|
Total
Share Capital |
5,650,226 |
5,650,226 |
4,850,226 |
|
Total
Reserves |
161,298 |
(768,826) |
(842,240) |
|
LIQUIDITY
(Times) |
|
|
|
|
Cash
Ratio |
0.13 |
0.84 |
0.26 |
|
Liquid
Ratio |
1.08 |
1.09 |
1.41 |
|
Current
Ratio |
1.08 |
1.09 |
1.59 |
|
WORKING
CAPITAL CONTROL (Days) |
|
|
|
|
Stock
Ratio |
0 |
0 |
17 |
|
Debtors
Ratio |
8 |
0 |
47 |
|
Creditors
Ratio |
0 |
2 |
25 |
|
SOLVENCY
RATIOS (Times) |
|
|
|
|
Gearing
Ratio |
1.85 |
0.00 |
0.00 |
|
Liabilities
Ratio |
2.91 |
0.37 |
0.99 |
|
Times
Interest Earned Ratio |
8.63 |
10.45 |
(47.86) |
|
Assets
Backing Ratio |
1.03 |
0.87 |
0.84 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
Operating
Profit Margin |
0.48 |
1.14 |
(2.05) |
|
Net
Profit Margin |
0.39 |
0.51 |
(2.52) |
|
Return On
Net Assets |
22.55 |
3.64 |
(7.52) |
|
Return On
Capital Employed |
22.55 |
3.64 |
(7.52) |
|
Return On
Shareholders' Funds/Equity |
16.00 |
1.50 |
(9.62) |
|
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.61.85 |
|
|
1 |
Rs.97.91 |
|
Euro |
1 |
Rs.77.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
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.