|
Report Date : |
29.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
FUTAR ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
19, Changi North Way, 498786 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.11.1971 |
|
|
|
|
Com. Reg. No.: |
197101311-Z |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Building Materials |
|
|
|
|
No. of Employees : |
100 |
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. |
: |
197101311-Z |
||||
|
COMPANY NAME |
: |
FUTAR ENTERPRISES PRIVATE LIMITED |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
26/11/1971 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
19, CHANGI NORTH WAY, 498786, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
19, CHANGI NORTH WAY, 498786, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-65433818 |
||||
|
FAX.NO. |
: |
65-65433789 |
||||
|
CONTACT PERSON |
: |
TAN SING PHONG ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
TRADING OF BUILDING MATERIALS |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
8,628,578.00 ORDINARY SHARE, OF A VALUE OF SGD 7,902,582.04 |
||||
|
SALES |
: |
SGD 29,846,029 [2013] |
||||
|
NET WORTH |
: |
SGD 21,642,623 [2013] |
||||
|
STAFF STRENGTH |
: |
100 [2014] |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
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
building materials.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
27/10/2014 |
SGD 7,902,582.04 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TAN SING PHONG + |
61, SENNETT LANE, EAST COAST HILL, 466953, SINGAPORE. |
S1356010B |
1,988,574.00 |
23.05 |
|
CHOO TUAN WEI |
5000N, MARINE PARADE ROAD, 20-57, LAGOON VIEW, 449295, SINGAPORE. |
S1198932B |
750,000.00 |
8.69 |
|
LOH SIEW CHOO |
61, SENNETT LANE, EAST COAST HILL, 466953, SINGAPORE. |
S1364970G |
678,000.00 |
7.86 |
|
LAUW PENG KIAT |
19, JALAN ULU SIGLAP, SIGLAP PARK, 457162, SINGAPORE. |
S2157967Z |
459,996.00 |
5.33 |
|
PETER POH KENG SWEE + |
194, ONAN ROAD, 424579, SINGAPORE. |
S1771359J |
354,334.00 |
4.11 |
|
TAN MUI GIOK @ TAN MUI GEOK |
194, ONAN ROAD, 424579, SINGAPORE. |
S0404390A |
354,332.00 |
4.11 |
|
TAN HONG WAH |
9, CHAPEL CLOSE, 429565, SINGAPORE. |
S1277941J |
324,600.00 |
3.76 |
|
BRILLIANT EAST ENTERPRISES (PT E) LTD. |
30, BOURNEMOUTH ROAD, 439676, SINGAPORE. |
197301533D |
315,000.00 |
3.65 |
|
LAUW CHOON KANG |
20C, EAST COAST AVENUE, 459213, SINGAPORE. |
S2158592J |
267,732.00 |
3.10 |
|
CHNG HONG TECK |
36, DAKOTA CRESCENT, 11-07, DAKOTA RESIDENCES, 399937, SINGAPORE. |
S0101782I |
256,668.00 |
2.97 |
|
SAMUEL ZHUANG SENMAO |
36, DAKOTA CRESCENT, 11-07, DAKOTA RESIDENCES, 399937, SINGAPORE. |
S8210790H |
256,668.00 |
2.97 |
|
ZHUANG KAI QUAN |
36, DAKOTA CRESCENT, 11-07, DAKOTA RESIDENCES, 399937, SINGAPORE. |
S8524324A |
256,668.00 |
2.97 |
|
LAUW BOEN WAN |
24, SIGLAP GARDENS, 456125, SINGAPORE. |
S2157964E |
207,000.00 |
2.40 |
|
LAUW BOEN HAA |
22, EAST COAST AVUNUE, 459224, SINGAPORE. |
S2180263H |
195,000.00 |
2.26 |
|
ANG AH POO |
162, JOO CHIAT ROAD, 427437, SINGAPORE. |
S0622063J |
159,996.00 |
1.85 |
|
SOH THIAM SIEW |
114, SIMEI STREET 1, 08-624, 520114, SINGAPORE. |
S0581764A |
156,000.00 |
1.81 |
|
SU TU CHANG YUAK @ SOO MEE KIM |
180, MEYER ROAD, 437964, MALAYSIA. |
S1851575Z |
156,000.00 |
1.81 |
|
CHUA SEOH MEY |
73, LORONG 4, TOA PAYOH, 09-597, 310073, MALAYSIA. |
S1787111J |
156,000.00 |
1.81 |
|
POH SUAT HOON EVELYN |
28, CASSIA CRESCENT, 06-20, 391028, SINGAPORE. |
S7337601G |
147,334.00 |
1.71 |
|
POH HSIEH LI CHRISTINA |
61, MARINE DRIVE, 08-82, 440061, SINGAPORE. |
S6936567A |
147,332.00 |
1.71 |
|
ONG EE MUI |
127, TAMPINES STREET 11, 10-440, 521127, SINGAPORE. |
S0363081A |
135,199.00 |
1.57 |
|
LAU KENG SENG |
37A, LORONG MARZUKI, 37-A, 417103, MALAYSIA. |
S1056923J |
130,000.00 |
1.51 |
|
ONG LON VOON |
254, JOO CHIAT ROAD, 427508, SINGAPORE. |
S7410882B |
120,000.00 |
1.39 |
|
CHAN LAY KHENG |
17Q, NALLUR ROAD, 456633, SINGAPORE. |
S0098943F |
107,336.00 |
1.24 |
|
LEE SIOK KEE |
35, BEDOK AVENUE, 469944, SINGAPORE. |
S0612370H |
80,004.00 |
0.93 |
|
CHOO HWEE MING |
17Q, NALLUR ROAD, 456633, SINGAPORE. |
S0291645B |
53,668.00 |
0.62 |
|
TAN PANG SHENG |
112, LENGKONG TIGA, 16-219, 410112, SINGAPORE. |
S1584630E |
52,000.00 |
0.60 |
|
TAN CHENG TEE |
195, ONAN ROAD, 424580, SINGAPORE. |
S0718974E |
52,000.00 |
0.60 |
|
DANNY TAN PANG YANN |
240, TAMPINES STREET 21, 04-469, 520240, SINGAPORE. |
S1423458F |
52,000.00 |
0.60 |
|
TAN HEE LIANG |
1, KEE SUN AVENUE, 457023, SINGAPORE. |
S1585447B |
47,502.00 |
0.55 |
|
TAN HEE JOEK |
526, EAST COARST ROAD, 16-03, OCEAN PARK, 458968, SINGAPORE. |
S7205559D |
47,502.00 |
0.55 |
|
KUAH AH CHOO, MDM |
9, PINE CLOSE, 09-08, 390009, SINGAPORE. |
S0649838H |
42,000.00 |
0.49 |
|
TAY YAN PING VIKKI |
1A, LORONG ABU TALIB, 456837, SINGAPORE. |
S7801586A |
20,000.00 |
0.23 |
|
POH AH HOCK |
28, CASSIA CRESCENT, 06-20, 391028, SINGAPORE. |
S0404309Z |
18,000.00 |
0.21 |
|
ONG TEOW ENG |
254, JOO CHIAT ROAD, 427508, SINGAPORE. |
S068284F |
14,534.00 |
0.17 |
|
ONG KOK LEONG |
162, JOO CHIAT ROAD, 427437, SINGAPORE. |
S0086627Z |
14,533.00 |
0.17 |
|
ONG MUI ENG |
234, JURONG EAST STREET 21, 03-302, 600234, SINGAPORE. |
S0074348H |
14,533.00 |
0.17 |
|
ONG PIAK MUI |
499, YIO CHU KANG ROAD, 15-06, SEASON PARK, 787082, SINGAPORE. |
S0084430F |
14,533.00 |
0.17 |
|
GAN KIM HOON |
21C, SIMEI STREET4, 11-50, DOUBLE BAY RESIDENCES, 528720, SINGAPORE. |
S1715628D |
10,000.00 |
0.12 |
|
LOK GEOK HWA |
647, JALAN TENAGA, 10-119, 410647, SINGAPORE. |
S1664974J |
10,000.00 |
0.12 |
|
TAY YAN BING, CRISPINA |
186A, RIVERVALE DRIVE, 09-822, 541186, SINGAPORE. |
S8739874I |
6,000.00 |
0.07 |
|
--------------- |
------ |
|||
|
8,628,578.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
200208434R |
SINGAPORE |
FUTAR HOLDINGS PTE. LTD. |
100.00 |
31/12/2013 |
DIRECTOR 1
|
Name Of Subject |
: |
PETER POH KENG SWEE |
|
Address |
: |
194, ONAN ROAD, 424579, SINGAPORE. |
|
IC / PP No |
: |
S1771359J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
06/05/1997 |
DIRECTOR 2
|
Name Of Subject |
: |
TAN SING PHONG |
|
Address |
: |
61, SENNETT LANE, EAST COAST HILL, 466953, SINGAPORE. |
|
IC / PP No |
: |
S1356010B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
15/02/1995 |
|
1) |
Name of Subject |
: |
TAN SING PHONG |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
ENTERPRISE ACCOUNTANTS LLP |
|
Auditor' Address |
: |
N/A |
|
Auditor |
: |
ENTERPRISE ACCOUNTANTS LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
GOH CHENG GUAN |
|
IC / PP No |
: |
S1476288D |
|
|
Address |
: |
401, PANDAN GARDENS, 04-01, 600401, SINGAPORE. |
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
DBS BANK LTD |
|
2) |
Name |
: |
THE DEVELOPMENT BANK OF SINGAPORE LTD |
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
199904898 |
06/11/1999 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
199904899 |
06/11/1999 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
C200505378 |
07/09/2005 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
C201007798 |
03/09/2010 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
|
C201113974 |
03/11/2011 |
N/A |
DBS BANK LTD |
- |
Unsatisfied |
* A check has been conducted in our databank against the Subject whether the
subject has been involved in any litigation.
|
LEGAL ACTION |
|
||||||||||||
|
|||||||||||||
|
Code No |
: |
99 |
Case No |
: |
4693 |
||||||||
|
Year |
: |
2006 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
DISTRICT COURT |
|||||||||||
|
Date Filed |
: |
08/12/2006 |
|||||||||||
|
Solicitor |
: |
MOHAMED MOHIDEEN S/O SHAIK NOOHU |
|||||||||||
|
Solicitor Ref |
: |
MM/0975/05 |
|||||||||||
|
Solicitor Firm |
: |
YPMP LAW CORPORATION |
|||||||||||
|
Plaintiff |
: |
KAYUIM SIDDIQUE MIAH |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Amount Claimed |
: |
61000 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
NEGLIGENCE |
|||||||||||
|
Code No |
: |
99 |
Case No |
: |
3267 |
||||||||
|
Year |
: |
2010 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
DISTRICT COURT |
|||||||||||
|
Date Filed |
: |
28/09/2010 |
|||||||||||
|
Solicitor Ref |
: |
HS/JT/1217/09 |
|||||||||||
|
Solicitor Firm |
: |
HAR ASSOCIATES |
|||||||||||
|
Plaintiff |
: |
WU WENKEN |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Remark |
: |
OTHERS/MISCELLANEOUS |
|||||||||||
|
Code No |
: |
99 |
Case No |
: |
2619 |
||||||||
|
Year |
: |
2012 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
DISTRICT COURT |
|||||||||||
|
Date Filed |
: |
11/09/2012 |
|||||||||||
|
Solicitor Ref |
: |
RC.2012.192777.MB |
|||||||||||
|
Solicitor Firm |
: |
CHELLIAH & KIANG |
|||||||||||
|
Plaintiff |
: |
NOVELTY BUILDERS PTE LTD |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Amount Claimed |
: |
100000 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
BUILDING AND CONSTRUCTION LAW |
|||||||||||
|
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 |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
Percentage |
: |
100% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
NO |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CASH |
|||
|
Type of Customer |
: |
CONSTRUCTION INDUSTRY |
|||
|
Goods Traded |
: |
BUILDING MATERIALS |
|
|
Ownership of premises |
: |
LEASED/RENTED |
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
100 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of building
materials.
The Subject is engaged in construction.
The Subject focuses on building construction.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6565433818 |
|
Current Telephone Number |
: |
65-65433818 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
19, CHANGI NORTH WAY,498786 SINGAPORE |
|
Current Address |
: |
19, CHANGI NORTH WAY, 498786, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 27th October 2014 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
9.41% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
11.32% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The Subject's profit fell sharply because of
the high operating costs incurred. The unfavourable return on shareholders'
funds could indicate that the Subject was inefficient in utilising its assets
to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
173 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
157 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
41 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 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 |
[ |
1.55 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.98 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 |
[ |
8.97 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.29 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 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 recorded lower profits as its turnover showed a erratic
trend. The Subject's management was unable to control its costs efficiently as
its profit showed a downward trend. 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 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 : STABLE |
||||||
|
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 1971, the Subject is a
Private Limited company, focusing on trading of building materials. The
Subject has been in business for 43 years. It has built up a strong clientele
base and satisfactory reputation will enable the Subject to further enhance
its business in the near term. The Subject is expected to enjoy a stable
market shares. With a paid up capital of SGD 7,902,582, the Subject has
greater opportunities to expand its business when the needs arise. Under the
control of its directors, we considered that the Subject's business position
in the market is much dependent on their abilities. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
FUTAR ENTERPRISES PRIVATE LIMITED |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
29,846,029 |
29,339,730 |
29,695,155 |
30,285,961 |
34,559,946 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
29,846,029 |
29,339,730 |
29,695,155 |
30,285,961 |
34,559,946 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,421,539 |
3,971,333 |
4,024,392 |
4,255,394 |
4,312,450 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
2,421,539 |
3,971,333 |
4,024,392 |
4,255,394 |
4,312,450 |
|
Taxation |
(385,247) |
(628,716) |
(696,199) |
(717,745) |
(615,915) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,036,292 |
3,342,617 |
3,328,193 |
3,537,649 |
3,696,535 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
12,135,178 |
9,223,990 |
6,327,226 |
7,092,578 |
3,773,293 |
|
Prior year adjustment |
- |
- |
- |
(3,951,291) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
12,135,178 |
9,223,990 |
6,327,226 |
3,141,287 |
3,773,293 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
14,171,470 |
12,566,607 |
9,655,419 |
6,678,936 |
7,469,828 |
|
TRANSFER TO RESERVES - General |
- |
- |
- |
25,540 |
- |
|
DIVIDENDS - Ordinary (paid & proposed) |
(431,429) |
(431,429) |
(431,429) |
(377,250) |
(377,250) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
13,740,041 |
12,135,178 |
9,223,990 |
6,327,226 |
7,092,578 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
10,622 |
- |
56 |
- |
- |
|
Lease interest |
15,384 |
20,218 |
11,062 |
- |
- |
|
Term loan / Borrowing |
94,279 |
87,833 |
150,930 |
- |
- |
|
Trust receipts |
183,733 |
135,125 |
181,528 |
- |
- |
|
Others |
- |
- |
- |
521,912 |
477,223 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
304,018 |
243,176 |
343,576 |
521,912 |
477,223 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FUTAR ENTERPRISES PRIVATE LIMITED |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
4,591,520 |
4,848,045 |
4,909,710 |
5,215,178 |
5,244,472 |
|
Others |
5,500 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
5,500 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
4,597,020 |
4,848,045 |
4,909,710 |
5,215,178 |
5,244,472 |
|
Stocks |
14,122,910 |
13,657,761 |
11,179,831 |
11,076,826 |
8,530,553 |
|
Trade debtors |
12,812,805 |
10,044,422 |
10,015,157 |
8,618,857 |
9,774,919 |
|
Other debtors, deposits & prepayments |
511,683 |
422,722 |
535,435 |
388,881 |
498,268 |
|
Short term deposits |
225,862 |
215,917 |
225,919 |
225,166 |
249,652 |
|
Cash & bank balances |
1,637,943 |
2,166,699 |
1,727,557 |
985,145 |
420,155 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
29,311,203 |
26,507,521 |
23,683,899 |
21,294,875 |
19,473,547 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
33,908,223 |
31,355,566 |
28,593,609 |
26,510,053 |
24,718,019 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,346,442 |
2,465,951 |
2,353,702 |
749,151 |
1,393,571 |
|
Other creditors & accruals |
1,840,870 |
1,431,860 |
1,669,786 |
1,542,360 |
1,091,524 |
|
Hire purchase & lease creditors |
85,803 |
85,803 |
71,876 |
57,590 |
57,590 |
|
Short term borrowings/Term loans |
212,196 |
682,547 |
3,179,143 |
- |
- |
|
Other borrowings |
3,786,235 |
3,036,862 |
- |
- |
- |
|
Amounts owing to director |
180,500 |
185,446 |
187,227 |
188,099 |
743,737 |
|
Provision for taxation |
372,125 |
622,937 |
703,915 |
701,479 |
713,099 |
|
Other liabilities |
- |
- |
- |
5,071,311 |
6,723,631 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
9,824,171 |
8,511,406 |
8,165,649 |
8,309,990 |
10,723,152 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
19,487,032 |
17,996,115 |
15,518,250 |
12,984,885 |
8,750,395 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
24,084,052 |
22,844,160 |
20,427,960 |
18,200,063 |
13,994,867 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
7,902,582 |
7,902,582 |
7,902,582 |
7,902,582 |
3,772,501 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
7,902,582 |
7,902,582 |
7,902,582 |
7,902,582 |
3,772,501 |
|
Capital reserve |
- |
- |
- |
- |
25,540 |
|
Retained profit/(loss) carried forward |
13,740,041 |
12,135,178 |
9,223,990 |
6,327,226 |
7,092,578 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
13,740,041 |
12,135,178 |
9,223,990 |
6,327,226 |
7,118,118 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
21,642,623 |
20,037,760 |
17,126,572 |
14,229,808 |
10,890,619 |
|
Long term loans |
1,962,045 |
2,237,530 |
2,949,484 |
- |
- |
|
Lease obligations |
328,384 |
417,870 |
200,904 |
- |
- |
|
Hire purchase creditors |
- |
- |
- |
172,780 |
230,370 |
|
Deferred taxation |
151,000 |
151,000 |
151,000 |
151,000 |
151,000 |
|
Others |
- |
- |
- |
3,646,475 |
2,722,878 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
2,441,429 |
2,806,400 |
3,301,388 |
3,970,255 |
3,104,248 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
24,084,052 |
22,844,160 |
20,427,960 |
18,200,063 |
13,994,867 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
FUTAR ENTERPRISES PRIVATE LIMITED |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,863,805 |
2,382,616 |
1,953,476 |
1,210,311 |
669,807 |
|
Net Liquid Funds |
1,863,805 |
2,382,616 |
1,953,476 |
1,210,311 |
669,807 |
|
Net Liquid Assets |
5,364,122 |
4,338,354 |
4,338,419 |
1,908,059 |
219,842 |
|
Net Current Assets/(Liabilities) |
19,487,032 |
17,996,115 |
15,518,250 |
12,984,885 |
8,750,395 |
|
Net Tangible Assets |
24,078,552 |
22,844,160 |
20,427,960 |
18,200,063 |
13,994,867 |
|
Net Monetary Assets |
2,922,693 |
1,531,954 |
1,037,031 |
(2,062,196) |
(2,884,406) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
6,374,663 |
6,460,612 |
6,401,407 |
230,370 |
287,960 |
|
Total Liabilities |
12,265,600 |
11,317,806 |
11,467,037 |
12,280,245 |
13,827,400 |
|
Total Assets |
33,908,223 |
31,355,566 |
28,593,609 |
26,510,053 |
24,718,019 |
|
Net Assets |
24,084,052 |
22,844,160 |
20,427,960 |
18,200,063 |
13,994,867 |
|
Net Assets Backing |
21,642,623 |
20,037,760 |
17,126,572 |
14,229,808 |
10,890,619 |
|
Shareholders' Funds |
21,642,623 |
20,037,760 |
17,126,572 |
14,229,808 |
10,890,619 |
|
Total Share Capital |
7,902,582 |
7,902,582 |
7,902,582 |
7,902,582 |
3,772,501 |
|
Total Reserves |
13,740,041 |
12,135,178 |
9,223,990 |
6,327,226 |
7,118,118 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.19 |
0.28 |
0.24 |
0.15 |
0.06 |
|
Liquid Ratio |
1.55 |
1.51 |
1.53 |
1.23 |
1.02 |
|
Current Ratio |
2.98 |
3.11 |
2.90 |
2.56 |
1.82 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
173 |
170 |
137 |
133 |
90 |
|
Debtors Ratio |
157 |
125 |
123 |
104 |
103 |
|
Creditors Ratio |
41 |
31 |
29 |
9 |
15 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.29 |
0.32 |
0.37 |
0.02 |
0.03 |
|
Liabilities Ratio |
0.57 |
0.56 |
0.67 |
0.86 |
1.27 |
|
Times Interest Earned Ratio |
8.97 |
17.33 |
12.71 |
9.15 |
10.04 |
|
Assets Backing Ratio |
3.05 |
2.89 |
2.58 |
2.30 |
3.71 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
8.11 |
13.54 |
13.55 |
14.05 |
12.48 |
|
Net Profit Margin |
6.82 |
11.39 |
11.21 |
11.68 |
10.70 |
|
Return On Net Assets |
11.32 |
18.45 |
21.38 |
26.25 |
34.22 |
|
Return On Capital Employed |
11.27 |
18.38 |
21.31 |
26.17 |
34.08 |
|
Return On Shareholders' Funds/Equity |
9.41 |
16.68 |
19.43 |
24.86 |
33.94 |
|
Dividend Pay Out Ratio (Times) |
0.21 |
0.13 |
0.13 |
0.11 |
0.10 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.77.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.