|
Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
URSCHEL ASIA PACIFIC PTE. LTD. |
|
|
|
|
Registered Office : |
10, Tagore Lane, 787473 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
05.11.2003 |
|
|
|
|
Com. Reg. No.: |
200311223-K |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Other Machinery and Equipment |
|
|
|
|
No. of Employees : |
9 [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. |
: |
200311223-K |
|
COMPANY NAME |
: |
URSCHEL ASIA PACIFIC PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
05/11/2003 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
10, TAGORE LANE, 787473, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
10, TAGORE LANE, 787473, SINGAPORE. |
|
TEL.NO. |
: |
65-62547757 |
|
FAX.NO. |
: |
65-62546676 |
|
EMAIL |
: |
ASIA@URSCHEL.COM |
|
WEB SITE |
: |
WWW.URSCHEL.COM |
|
CONTACT PERSON |
: |
NEO ANDREW ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF OTHER MACHINERY AND EQUIPMENT |
|
ISSUED AND PAID UP CAPITAL |
: |
10,000.00 ORDINARY SHARE, OF A VALUE OF SGD 10,000.00 |
|
SALES |
: |
SGD 15,051,812 [2013] |
|
NET WORTH |
: |
SGD 8,301,657 [2013] |
|
STAFF STRENGTH |
: |
9 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
AVERAGE |
|
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) wholesale of other machinery and equipment.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
01/10/2014 |
SGD 10,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
URSCHEL LABORATORIES INC. |
2503, CALUMET AVENUE, VALPARAISO, INDIANA 46383, UNITED STATES OF AMERICA, UNITED STATES. |
T04UF0576L |
10,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
10,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
THAILAND |
URSCHEL (THAILAND) LIMITED |
51.00 |
31/12/2013 |
|
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. NEO ANDREW |
|
Address |
: |
13, CANTONMENT CLOSE, 10-23, SINGAPORE, 080013, SINGAPORE. |
|
IC / PP No |
: |
S7007152E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/01/2008 |
DIRECTOR 2
|
Name Of Subject |
: |
TIMOTHY HOWARD O'BRIEN |
|
Address |
: |
4806, LAKERIDGE COURT VALPARAISO, INDIANA, 46383, U.S.A., UNITED
STATES. |
|
IC / PP No |
: |
457234282 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
05/11/2003 |
DIRECTOR 3
|
Name Of Subject |
: |
TAN LI FONG |
|
Address |
: |
10, HOUGANG STREET, 92, 14-05, REGENTVILLE, SINGAPORE, 538687,
SINGAPORE. |
|
IC / PP No |
: |
S7025919B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/01/2008 |
DIRECTOR 4
|
Name Of Subject |
: |
WONG FUT MENG |
|
Address |
: |
327, SEMBAWANG CRESCENT, 11 - 30, SINGAPORE, 750327, SINGAPORE. |
|
IC / PP No |
: |
S7471316E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/10/2013 |
DIRECTOR 5
|
Name Of Subject |
: |
DANIEL DWIGHT MARCHETTI |
|
Address |
: |
2403, WILLIAM CT., VALPARAISO, IN 46385, UNITED STATES. |
|
IC / PP No |
: |
457234281 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
01/04/2013 |
DIRECTOR 6
|
Name Of Subject |
: |
PATRICK CHARLES URSCHEL |
|
Address |
: |
201, ERIE STREET VALPARAISO, INDIANA, 46383, U.S.A., UNITED STATES. |
|
IC / PP No |
: |
458589449 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
05/11/2003 |
|
1) |
Name of Subject |
: |
NEO ANDREW |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
RSM CHIO LIM LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
SIM CHENG LIN |
|
IC / PP No |
: |
S2005404B |
|
|
Address |
: |
10C, BRADDELL HILL, 05-09, BRADDELL VIEW, 579722, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
SEAH KIM SWEE |
|
IC / PP No |
: |
S0045970D |
|
|
Address |
: |
1D, CANTONMENT ROAD, 36-39, THE PINNACLE@DUXTON, 085401, SINGAPORE. |
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LEGAL
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclosed its supplier.
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 |
[ |
] |
|||||||||
CLIENTELE
|
|||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
OPERATIONS
|
|||
|
Goods Traded |
: |
WHOLESALE OF OTHER MACHINERY AND EQUIPMENT |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
9 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of other
machinery and equipment.
The Subject refused to disclose its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that:
|
Telephone Number Provided By Client |
: |
6562547757 |
|
Current Telephone Number |
: |
65-62547757 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
10 TAGORE LANE SINGAPORE 787473 SINGAPORE |
|
Current Address |
: |
10, TAGORE LANE, 787473, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided limited
information on the Subject.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
20.88% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
109.03% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
19.28% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
23.64% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition and the Subject could be gaining the market share progressively.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 |
: |
Acceptable |
[ |
61 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
11 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
65 Days |
] |
|
|
The Subject kept adequate stocks to meet its normal business
transactions without incurring excessive storage costs. The favourable
debtors' days could be due to the good credit control measures implemented by
the Subject. The unfavourable creditors' ratio could be due to the Subject
taking advantage of the credit granted by its suppliers. However this may
affect the goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.43 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.29 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations
and the Subject was in a good liquidity position. Thus, we believe the
Subject is able to meet all its short term obligations as and when they fall
due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Favourable |
[ |
401.11 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. The Subject had no
gearing and hence it had virtually no financial risk. The Subject was
financed by its shareholders' funds and internally generated fund. During the
economic downturn, the Subject, having a zero gearing, will be able to
compete better than those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
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. With
the favourable interest cover, the Subject could be able to service all the
accrued interest without facing any difficulties. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
Overall financial condition of the Subject : STRONG |
||||||
|
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 9 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. 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. |
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
URSCHEL ASIA
PACIFIC PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
|
TURNOVER |
15,051,812 |
12,452,221 |
14,326,880 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
15,051,812 |
12,452,221 |
14,326,880 |
|
Costs of Goods Sold |
(10,960,928) |
(8,841,165) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
4,090,884 |
3,611,056 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,961,730 |
938,505 |
1,629,377 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,961,730 |
938,505 |
1,629,377 |
|
Taxation |
(361,115) |
(244,114) |
(490,951) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,600,615 |
694,391 |
1,138,426 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
6,736,666 |
6,076,518 |
2,925,389 |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
6,736,666 |
6,076,518 |
2,925,389 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
8,337,281 |
6,770,909 |
4,063,815 |
|
TRANSFER TO RESERVES - Statutory |
(31,325) |
(34,243) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
8,305,956 |
6,736,666 |
4,063,815 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Others |
4,903 |
36,175 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
4,903 |
36,175 |
- |
|
|
============= |
============= |
||
|
|
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
URSCHEL ASIA
PACIFIC PTE. LTD. |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
3,978,192 |
3,836,776 |
4,207,010 |
|
Associated companies |
515,571 |
521,735 |
- |
|
Deferred assets |
31,986 |
35,133 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
547,557 |
556,868 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
4,525,749 |
4,393,644 |
4,207,010 |
|
Stocks |
2,524,604 |
2,603,484 |
- |
|
Trade debtors |
466,543 |
160,979 |
- |
|
Other debtors, deposits & prepayments |
180,227 |
181,605 |
- |
|
Amount due from related companies |
67,750 |
6,184 |
- |
|
Amount due from associated companies |
62,148 |
25,062 |
- |
|
Cash & bank balances |
3,433,660 |
2,107,795 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
6,734,932 |
5,085,109 |
3,940,156 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
11,260,681 |
9,478,753 |
8,147,166 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
1,952,685 |
1,765,101 |
- |
|
Deposits from customers |
711,856 |
282,179 |
- |
|
Amounts owing to related companies |
- |
198,535 |
- |
|
Amounts owing to associated companies |
53,408 |
53,744 |
- |
|
Provision for taxation |
224,003 |
161,864 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,941,952 |
2,461,423 |
4,073,351 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
3,792,980 |
2,623,686 |
(133,195) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
8,318,729 |
7,017,330 |
4,073,815 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
10,000 |
10,000 |
10,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
10,000 |
10,000 |
10,000 |
|
Exchange equalisation/fluctuation reserve |
(183,413) |
(185,495) |
- |
|
Statutory reserve |
169,114 |
137,789 |
- |
|
Retained profit/(loss) carried forward |
8,305,956 |
6,736,666 |
4,063,815 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
8,291,657 |
6,688,960 |
4,063,815 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
8,301,657 |
6,698,960 |
4,073,815 |
|
Deferred taxation |
17,072 |
10,862 |
- |
|
Others |
- |
307,508 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
17,072 |
318,370 |
- |
|
---------------- |
---------------- |
---------------- |
|
|
8,318,729 |
7,017,330 |
4,073,815 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
URSCHEL ASIA
PACIFIC PTE. LTD. |
|
TYPES OF FUNDS |
|||
|
Cash |
3,433,660 |
2,107,795 |
- |
|
Net Liquid Funds |
3,433,660 |
2,107,795 |
- |
|
Net Liquid Assets |
1,268,376 |
20,202 |
(133,195) |
|
Net Current Assets/(Liabilities) |
3,792,980 |
2,623,686 |
(133,195) |
|
Net Tangible Assets |
8,318,729 |
7,017,330 |
4,073,815 |
|
Net Monetary Assets |
1,251,304 |
(298,168) |
(133,195) |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
- |
|
Total Liabilities |
2,959,024 |
2,779,793 |
4,073,351 |
|
Total Assets |
11,260,681 |
9,478,753 |
8,147,166 |
|
Net Assets |
8,318,729 |
7,017,330 |
4,073,815 |
|
Net Assets Backing |
8,301,657 |
6,698,960 |
4,073,815 |
|
Shareholders' Funds |
8,301,657 |
6,698,960 |
4,073,815 |
|
Total Share Capital |
10,000 |
10,000 |
10,000 |
|
Total Reserves |
8,291,657 |
6,688,960 |
4,063,815 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
1.17 |
0.86 |
- |
|
Liquid Ratio |
1.43 |
1.01 |
- |
|
Current Ratio |
2.29 |
2.07 |
0.97 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
61 |
76 |
- |
|
Debtors Ratio |
11 |
5 |
- |
|
Creditors Ratio |
65 |
73 |
- |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.00 |
0.00 |
- |
|
Liabilities Ratio |
0.36 |
0.41 |
1.00 |
|
Times Interest Earned Ratio |
401.11 |
26.94 |
- |
|
Assets Backing Ratio |
831.87 |
701.73 |
407.38 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
13.03 |
7.54 |
11.37 |
|
Net Profit Margin |
10.63 |
5.58 |
7.95 |
|
Return On Net Assets |
23.64 |
13.89 |
40.00 |
|
Return On Capital Employed |
23.64 |
13.89 |
40.00 |
|
Return On Shareholders' Funds/Equity |
19.28 |
10.37 |
27.94 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.36 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.