|
Report Date : |
17.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNITED TEXMAC PTE LTD |
|
|
|
|
Registered Office : |
140, Paya Lebar Road, 05-14, Az @ Paya Lebar, 409015 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
07.06.1996 |
|
|
|
|
Com. Reg. No.: |
199604132-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading Of Knitted Products, Textiles |
|
|
|
|
No. of Employees : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
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. |
: |
199604132-E |
|
COMPANY NAME |
: |
UNITED TEXMAC PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
07/06/1996 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
140, PAYA LEBAR ROAD, 05-14, AZ @ PAYA LEBAR, 409015,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
140 PAYA LEBAR ROAD, @ PAYA LEBAR, LEVEL 5-15,, 409015,
SINGAPORE. |
|
TEL.NO. |
: |
65-68978123 |
|
FAX.NO. |
: |
65-68978133 |
|
WEB SITE |
: |
WWW.UNITEX.COM.SG |
|
CONTACT PERSON |
: |
PUA YEOW CHUAH ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF KNITTED PRODUCTS, TEXTILES |
|
ISSUED AND PAID UP CAPITAL |
: |
1,150,000.00 ORDINARY SHARE, OF A VALUE OF SGD
1,175,000.00 |
|
SALES |
: |
SGD 21,262,616 [2013] |
|
NET WORTH |
: |
SGD 3,548,568 [2013] |
|
STAFF STRENGTH |
: |
50 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
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) trading of knitted products, textiles.
Share Capital History
|
Date |
Issue
& Paid Up Capital |
|
15/10/2014 |
SGD 1,175,000.00 |
The major shareholder(s) of the Subject are shown as follows
:
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
PUA YEOW CHUAH + |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, SINGAPORE. |
1638617J |
382,766.00 |
33.28 |
|
ITOCHU SYSTECH CORPORATION |
3-6-14, MINAMI-HONMACHI CHUO-KU, OSAKA 541-0054, JAPAN,
SINGAPORE. |
S96UF0570 |
299,408.00 |
26.04 |
|
NG SOCK CHEW + |
49, PARK VILLAS TERRACE, 545276, SINGAPORE. |
S0076099D |
212,648.00 |
18.49 |
|
TSENG HONG KEE |
988B, JURONG WEST STREET. 93, 13-641, 642988, SINGAPORE. |
S2554218 |
127,589.00 |
11.09 |
|
TEOH BOON CHEOW |
52, BUKIT BATOK STREET 31, 06-08, THE MADEIRA, 659943,
SINGAPORE. |
S2590864 |
85,059.00 |
7.40 |
|
POR KHAY TI |
66, BAYSHORE ROAD, 23-05, BAYSHORE PARK, 469985,
SINGAPORE. |
S2538817 |
42,530.00 |
3.70 |
|
--------------- |
------ |
|||
|
1,150,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also
Director
The Subject's interest in other companies (Subsidiaries/Associates)
are shown as follow :
|
Local No |
Country |
Company |
(%) |
As
At |
|
CHINA |
JIACHUAN KNITTING (SHANGHAI) CO., LTD. |
100.00 |
31/12/2013 |
|
|
CHINA |
SHANGHAI JIACHEN PRECISION TEXTILE MACHINERY PRODUCTION CO.,
LTD. |
100.00 |
31/12/2013 |
|
|
200516588N |
SINGAPORE |
ECOTEX PTE. LTD. |
100.00 |
31/12/2013 |
|
CHINA |
SHANGHAI XINXIN TEXTILE MACHINERY CO., LTD. |
100.00 |
31/12/2013 |
|
DIRECTOR 1
|
Name Of Subject |
: |
NG SOCK CHEW |
|
Address |
: |
49, PARK VILLAS TERRACE, 545276, SINGAPORE. |
|
IC / PP No |
: |
S0076099D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/11/1996 |
DIRECTOR 2
|
Name Of Subject |
: |
PUA YEOW CHUAH |
|
Address |
: |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, SINGAPORE. |
|
IC / PP No |
: |
1638617J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/11/1996 |
|
1) |
Name of Subject |
: |
PUA YEOW CHUAH |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
SAW MENG TEE & PARTNERS PAC |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
PUA YEOW CHUAH |
|
IC / PP No |
: |
1638617J |
|
|
Address |
: |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, 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 |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
KNITTED PRODUCTS, TEXTILES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
50 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of knitted
products, textiles.
The Subject can offer Single Knit Series (UBX), Double Knit Series (UDX) and
Striper (USX) in various diameter and gauges. A world class standard
accessories and parts, superior technologies, precision central stitch system
makes Unitex a unique one.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6568978123 |
|
Current Telephone Number |
: |
65-68978123 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
140 PAYA LEBAR ROAD, #05-14/15 SINGAPORE 409015 |
|
Current Address |
: |
140 PAYA LEBAR ROAD, @ PAYA LEBAR, LEVEL 5-15,, 409015, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
On 13th October 2014 we contacted one of the staff from the Subject and she
provided some information.
The address provided is incomplete.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011
- 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011
- 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(8.02%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(2.62%) |
] |
|
|
The fluctuating turnover reflects the fierce competition
among the existing and new market players.The Subject could be more efficient
in controlling its operating costs and had managed to reduce its losses during
the year. The Subject's unfavourable returns on shareholders' funds indicate
the management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
95
Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
100
Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
160
Days |
] |
|
|
The Subject could be incurring higher holding cost. As its
capital was tied up in stocks, it could face liquidity problems. The
Subject's debtors ratio was high. The Subject should tighten its credit
control and improve its collection period. 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 |
: |
Unfavourable |
[ |
0.78
Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.22
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 |
[ |
(0.63
Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.34
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 was lowly geared thus it had a low financial risk. The
Subject was mainly financed by its shareholders' funds and internally
generated funds. In times of economic slowdown / downturn, the Subject being
a lowly geared company, will be able to compete better than those companies
which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
The Subject's turnover showed a volatile trend but its
losses were lower when compared to the previous corresponding period. This
could suggest that the Subject was more efficient in its operating cost
control and was more competitive. 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 as a lowly geared company, will be more secured compared
to those highly geared companies. It has the ability to meet all its long
term obligations. |
||||||
|
Overall financial condition of the Subject : LIMITED |
||||||
|
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) |
|||||
|
(Source : Department of Statistics) |
|
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 1996, the Subject is a Private Limited company, focusing on trading of
knitted products, textiles. Having been in the industry for over a decade,
the Subject has achieved a certain market share and has built up a satisfactory
reputation in the market. It should have received supports from its regular
customers. A paid up capital of SGD 1,175,000 allows the Subject to expand
its business more comfortably. We considered that the Subject's business
position in the market is much dependent on the efforts of its directors |
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
UNITED
TEXMAC PTE LTD |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
SGD |
SGD |
SGD |
|
TURNOVER |
21,262,616 |
14,538,298 |
19,216,174 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
21,262,616 |
14,538,298 |
19,216,174 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(270,974) |
(2,240,794) |
596,032 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(270,974) |
(2,240,794) |
596,032 |
|
Taxation |
(12,402) |
350,309 |
(133,982) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(283,376) |
(1,890,485) |
462,050 |
|
Minority interests |
(1,365) |
(635) |
(489) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
(284,741) |
(1,891,120) |
461,561 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
(284,741) |
(1,891,120) |
461,561 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
2,510,184 |
4,401,304 |
3,939,743 |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
2,510,184 |
4,401,304 |
3,939,743 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,225,443 |
2,510,184 |
4,401,304 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,225,443 |
2,510,184 |
4,401,304 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Bank overdraft |
11,767 |
21,160 |
29,340 |
|
Hire purchase |
1,157 |
8,862 |
9,306 |
|
Term loan / Borrowing |
77,939 |
117,650 |
128,241 |
|
Trust receipts |
70,892 |
52,574 |
35,946 |
|
Others |
4,362 |
2,802 |
3,604 |
|
---------------- |
---------------- |
---------------- |
|
|
166,117 |
203,048 |
206,437 |
|
|
============= |
============= |
============= |
|
UNITED
TEXMAC PTE LTD |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
1,279,158 |
3,479,347 |
4,092,572 |
|
Others |
1,772 |
1,801 |
1,867 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
1,772 |
1,801 |
1,867 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,280,930 |
3,481,148 |
4,094,439 |
|
Stocks |
5,505,977 |
6,232,010 |
5,862,866 |
|
Trade debtors |
5,824,194 |
5,060,197 |
4,909,065 |
|
Other debtors, deposits & prepayments |
1,128,284 |
382,805 |
281,756 |
|
Short term deposits |
45,253 |
280,480 |
215,843 |
|
Cash & bank balances |
840,286 |
1,287,691 |
2,684,421 |
|
Amount owing by customer |
69,047 |
74,225 |
66,589 |
|
Others |
1,783,050 |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
15,196,091 |
13,317,408 |
14,020,540 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
16,477,021 |
16,798,556 |
18,114,979 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
9,322,785 |
8,862,702 |
6,651,037 |
|
Other creditors & accruals |
871,579 |
1,078,907 |
864,562 |
|
Hire purchase & lease creditors |
1,101 |
59,270 |
150,831 |
|
Bank overdraft |
200,666 |
238,432 |
116,759 |
|
Short term borrowings/Term loans |
1,003,177 |
1,237,084 |
1,634,138 |
|
Bill & acceptances payable |
- |
- |
71,280 |
|
Amounts owing to director |
698,770 |
701,823 |
731,382 |
|
Provision for taxation |
7,404 |
6,848 |
3,885 |
|
Other liabilities |
364,894 |
496,168 |
946,016 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
12,470,376 |
12,681,234 |
11,169,890 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,725,715 |
636,174 |
2,850,650 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
4,006,645 |
4,117,322 |
6,945,089 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
1,175,000 |
1,175,000 |
1,175,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,175,000 |
1,175,000 |
1,175,000 |
|
Exchange equalisation/fluctuation reserve |
142,242 |
(8,663) |
187,479 |
|
Retained profit/(loss) carried forward |
2,225,443 |
2,510,184 |
4,401,304 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
2,367,685 |
2,501,521 |
4,588,783 |
|
MINORITY INTEREST |
5,883 |
5,045 |
4,981 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,548,568 |
3,681,566 |
5,768,764 |
|
Long term loans |
- |
- |
285,700 |
|
Hire purchase creditors |
2,250 |
3,351 |
62,556 |
|
Deferred taxation |
455,827 |
432,405 |
828,069 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
458,077 |
435,756 |
1,176,325 |
|
---------------- |
---------------- |
---------------- |
|
|
4,006,645 |
4,117,322 |
6,945,089 |
|
|
============= |
============= |
============= |
|
|
UNITED
TEXMAC PTE LTD |
|
TYPES OF FUNDS |
|||
|
Cash |
885,539 |
1,568,171 |
2,900,264 |
|
Net Liquid Funds |
684,873 |
1,329,739 |
2,712,225 |
|
Net Liquid Assets |
(2,780,262) |
(5,595,836) |
(3,012,216) |
|
Net Current Assets/(Liabilities) |
2,725,715 |
636,174 |
2,850,650 |
|
Net Tangible Assets |
4,006,645 |
4,117,322 |
6,945,089 |
|
Net Monetary Assets |
(3,238,339) |
(6,031,592) |
(4,188,541) |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
1,207,194 |
1,538,137 |
2,321,264 |
|
Total Liabilities |
12,928,453 |
13,116,990 |
12,346,215 |
|
Total Assets |
16,477,021 |
16,798,556 |
18,114,979 |
|
Net Assets |
4,006,645 |
4,117,322 |
6,945,089 |
|
Net Assets Backing |
3,548,568 |
3,681,566 |
5,768,764 |
|
Shareholders' Funds |
3,548,568 |
3,681,566 |
5,768,764 |
|
Total Share Capital |
1,175,000 |
1,175,000 |
1,175,000 |
|
Total Reserves |
2,367,685 |
2,501,521 |
4,588,783 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.07 |
0.12 |
0.26 |
|
Liquid Ratio |
0.78 |
0.56 |
0.73 |
|
Current Ratio |
1.22 |
1.05 |
1.26 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
95 |
156 |
111 |
|
Debtors Ratio |
100 |
127 |
93 |
|
Creditors Ratio |
160 |
223 |
126 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.34 |
0.42 |
0.40 |
|
Liabilities Ratio |
3.64 |
3.56 |
2.14 |
|
Times Interest Earned Ratio |
(0.63) |
(10.04) |
3.89 |
|
Assets Backing Ratio |
3.41 |
3.50 |
5.91 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
(1.27) |
(15.41) |
3.10 |
|
Net Profit Margin |
(1.34) |
(13.01) |
2.40 |
|
Return On Net Assets |
(2.62) |
(49.49) |
11.55 |
|
Return On Capital Employed |
(2.49) |
(46.10) |
11.12 |
|
Return On Shareholders' Funds/Equity |
(8.02) |
(51.37) |
8.00 |
|
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.61.48 |
|
|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PDT |
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.