|
Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
NORD-LOCK PTE. LTD. |
|
|
|
|
Registered Office : |
2, International Business Park, 03-36, The Strategy, 609930,. |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
05.05.2011 |
|
|
|
|
Com. Reg. No.: |
201110682-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of bolt securing products and equipments |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow and delayed |
|
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. |
: |
201110682-R |
|
COMPANY NAME |
: |
NORD-LOCK PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
05/05/2011 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
2, INTERNATIONAL BUSINESS PARK, 03-36, THE STRATEGY, 609930, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
2 INTERNATIONAL BUSINESS PARK, #03-36 THE STRATEGY, 609930, SINGAPORE. |
|
TEL.NO. |
: |
65-65156658 |
|
FAX.NO. |
: |
65-65154485 |
|
WEB SITE |
: |
WWW.NORD-LOCK.COM |
|
CONTACT PERSON |
: |
MARCUS WILHELM GUNNAR LUNDEVALL ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF BOLT SECURING PRODUCTS AND EQUIPMENTS |
|
ISSUED AND PAID UP CAPITAL |
: |
50,000.00 ORDINARY SHARE, OF A VALUE OF SGD 50,000.00 |
|
SALES |
: |
SGD 5,659,494 [2013] |
|
NET WORTH |
: |
SGD (816,287) [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
POOR |
|
PAYMENT |
: |
SLOW AND DELAYED |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
MODERATE |
|
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 bolt securing products and equipments.
The immediate holding company of the Subject is NORD-LOCK INTERNATIONAL AB, a company incorporated in SWEDEN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
16/10/2014 |
SGD 50,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NORD-LOCK INTERNATIONAL AB |
BOX 336, GOTHENBURG, 40125, SWEDEN. |
011009 |
50,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
50,000.00 |
100.00 |
|||
|
============ |
===== |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MARCUS WILHELM GUNNAR LUNDEVALL |
|
Address |
: |
ANGBACKEVAGEN 20, KALLERED, 42834, SWEDEN. |
|
IC / PP No |
: |
62904612 |
|
Nationality |
: |
SWEDE |
|
Date of Appointment |
: |
05/05/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
HENTSCHEL NORBERT ALOYSIUS |
|
Address |
: |
2, INTERNATIONAL BUSINESS PARK, 03-36 , STRATEGY, THE, 609930, SINGAPORE. |
|
IC / PP No |
: |
G5764797W |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
01/03/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
MOHANADAS SUBRAMANIAM |
|
Address |
: |
41, JALAN AMBANG 1, GATEWAY HORIZON HILL, 79100 NUSAJAYA, JOHOR, MALAYSIA. |
|
IC / PP No |
: |
G5310699X |
|
Nationality |
: |
MALAYSIAN |
|
Date of Appointment |
: |
02/05/2014 |
|
1) |
Name of Subject |
: |
MARCUS WILHELM GUNNAR LUNDEVALL |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
ENVAN |
|
Position |
: |
STAFF |
|
|
Auditor |
: |
CA PRACTICE PAC |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
QUEK JIN KUANG |
|
IC / PP No |
: |
S1190757A |
|
|
Address |
: |
39, MOUNT SINAI RISE, 15-01, FONTANA HEIGHTS, 276957, SINGAPORE. |
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
BOLT SECURING PRODUCTS AND EQUIPMENTS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of bolt
securing products and equipments.
The Subject sells Superbolt nuts and bolts.
The Nord-Lock Group is a world leader in bolt securing systems.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-65156658 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
2 INTERNATIONAL BUSINESS PARK, #03-36 THE STRATEGY, 609930, SINGAPORE |
|
Current Address |
: |
2 INTERNATIONAL BUSINESS PARK, #03-36 THE STRATEGY, 609930, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
we contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its number of employees.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
85.56% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
(57.27%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
31.82% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
33.24% |
] |
|
|
The increase in turnover could be due to the Subject adopting an aggressive marketing strategy.The Subject could be more efficient in controlling its operating costs and had managed to reduce its losses during the year. Although the Subject's returns showed positive figures it is not reflective of the true situation. The Subject incurred losses during the year and its shareholders' funds have turned red. The positive returns on shareholders' funds is the result of losses divided by negative shareholders' funds. The Subject's management was inefficient in utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
7 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
61 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
6 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The Subject's management was quite efficient in handling its debtors. The Subject's debtors days were at an acceptable range, thus the risk of its debts turning bad was minimised. 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 |
: |
Unfavourable |
[ |
0.60 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.64 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working capital deficiency. If the Subject cannot obtain additional financing or injection of fresh capital, it may face difficulties in meeting its short term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(2,984.41 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate sufficient income to service its interest. If the situation does not improve, the Subject may be vulnerable to default in servicing the interest. 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 : |
||||||
|
The higher turnover had helped to reduce the Subject's losses. Due to its weak liquidity position, the Subject will be faced with problems in meeting all its short term obligations if no short term loan is obtained or additional capital injected into the Subject. The Subject's interest cover was negative, indicating that it did not generate sufficient income to service its interest. If its result does not show impressive improvements or succeed obtaining short term financing or capital injection, it may not be able to service its interest and repay the loans. 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 : POOR |
||||||
|
SINGAPORE ECONOMIC / INDUSTRY OUTLOOK |
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
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
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE
WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
NORD-LOCK PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
5,659,494 |
3,049,896 |
|
Other Income |
5,840 |
391,002 |
|
---------------- |
---------------- |
|
|
Total Turnover |
5,665,334 |
3,440,898 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(259,731) |
(607,794) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(259,731) |
(607,794) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(259,731) |
(607,794) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(606,556) |
1,238 |
|
---------------- |
---------------- |
|
|
As restated |
(606,556) |
1,238 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(866,287) |
(606,556) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(866,287) |
(606,556) |
|
============= |
============= |
|
|
Loan from holding company |
87 |
2,576 |
|
---------------- |
---------------- |
|
|
87 |
2,576 |
|
|
============= |
============= |
|
BALANCE SHEET |
|
NORD-LOCK PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
174,318 |
208,259 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
174,318 |
208,259 |
|
Stocks |
102,314 |
4,153 |
|
Trade debtors |
950,906 |
599,691 |
|
Other debtors, deposits & prepayments |
28,880 |
9,005 |
|
Short term deposits |
37,130 |
24,943 |
|
Amount due from holding company |
3,070 |
7,665 |
|
Cash & bank balances |
587,475 |
755,301 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,709,775 |
1,400,758 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,884,093 |
1,609,017 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
86,635 |
30,468 |
|
Other creditors & accruals |
139,218 |
88,689 |
|
Amounts owing to holding company |
2,338,214 |
1,753,405 |
|
Amounts owing to director |
10,499 |
- |
|
Other liabilities |
90,713 |
257,910 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
2,665,279 |
2,130,472 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(955,504) |
(729,714) |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
(781,186) |
(521,455) |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
50,000 |
50,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
50,000 |
50,000 |
|
Retained profit/(loss) carried forward |
(866,287) |
(606,556) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(866,287) |
(606,556) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(816,287) |
(556,556) |
|
Others |
35,101 |
35,101 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
35,101 |
35,101 |
|
---------------- |
---------------- |
|
|
(781,186) |
(521,455) |
|
|
============= |
============= |
|
|
FINANCIAL RATIO |
|
NORD-LOCK PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
624,605 |
780,244 |
|
Net Liquid Funds |
624,605 |
780,244 |
|
Net Liquid Assets |
(1,057,818) |
(733,867) |
|
Net Current Assets/(Liabilities) |
(955,504) |
(729,714) |
|
Net Tangible Assets |
(781,186) |
(521,455) |
|
Net Monetary Assets |
(1,092,919) |
(768,968) |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
2,700,380 |
2,165,573 |
|
Total Assets |
1,884,093 |
1,609,017 |
|
Net Assets |
(781,186) |
(521,455) |
|
Net Assets Backing |
(816,287) |
(556,556) |
|
Shareholders' Funds |
(816,287) |
(556,556) |
|
Total Share Capital |
50,000 |
50,000 |
|
Total Reserves |
(866,287) |
(606,556) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.23 |
0.37 |
|
Liquid Ratio |
0.60 |
0.66 |
|
Current Ratio |
0.64 |
0.66 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
7 |
0 |
|
Debtors Ratio |
61 |
72 |
|
Creditors Ratio |
6 |
4 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
(3.31) |
(3.89) |
|
Times Interest Earned Ratio |
(2,984.41) |
(234.94) |
|
Assets Backing Ratio |
(15.62) |
(10.43) |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
(4.59) |
(19.93) |
|
Net Profit Margin |
(4.59) |
(19.93) |
|
Return On Net Assets |
33.24 |
116.06 |
|
Return On Capital Employed |
33.24 |
116.06 |
|
Return On Shareholders' Funds/Equity |
31.82 |
109.21 |
|
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.61.48 |
|
|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIS |
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.