|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
INVISTA SINGAPORE FIBRES PTE. LTD. |
|
|
|
|
Formerly Known As : |
DU PONT SINGAPORE FIBRES PTE LTD |
|
|
|
|
Registered Office : |
39, TUAS CRESCENT, 638726 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
06.03.1991 |
|
|
|
|
Com. Reg. No.: |
199100954-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Manufacture of Polymers and Fibers, Primarily for Nylon,
Spandex and Polyester Applications |
|
|
|
|
No. of Employees : |
400 |
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. |
: |
199100954-E |
|
COMPANY NAME |
: |
INVISTA SINGAPORE FIBRES PTE. LTD. |
|
FORMER NAME |
: |
DU PONT SINGAPORE FIBRES PTE LTD (02/08/2004) |
|
INCORPORATION DATE |
: |
06/03/1991 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
39, TUAS CRESCENT, 638726, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
39 TUAS CRESCENT, 638726, SINGAPORE. |
|
TEL.NO. |
: |
65-68613332 |
|
FAX.NO. |
: |
65-68604766 |
|
CONTACT PERSON |
: |
WANG FANG ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF POLYMERS AND FIBERS, PRIMARILY FOR NYLON,
SPANDEX AND POLYESTER APPLICATIONS |
|
ISSUED AND PAID UP CAPITAL |
: |
25,000.00 ORDINARY SHARE, OF A VALUE OF SGD 25,000.00 |
|
SALES |
: |
USD 131,636,000 [2013] |
|
NET WORTH |
: |
USD 122,125,000 [2013] |
|
STAFF STRENGTH |
: |
400 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MATURE |
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) manufacture
of polymers and fibers, primarily for nylon, spandex and polyester
applications.
The immediate holding company of the Subject is INVISTA
(SINGAPORE) PTE. LTD., a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
06/08/2014 |
SGD 25,000.00 |
The major shareholder(s) of the Subject are shown as follows
:
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
INVISTA (SINGAPORE) PTE. LTD. |
39, TUAS CRESCENT, 638726, SINGAPORE. |
198900445N |
20,000.00 |
80.00 |
|
ISH-TORAY PTE. LTD. |
80, RAFFLES PLACE, 32-01, UOB PLAZA, 048624, SINGAPORE. |
199103390N |
5,000.00 |
20.00 |
|
--------------- |
------ |
|||
|
25,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
WANG FANG |
|
Address |
: |
64, PAVILION RISE, 658059, SINGAPORE. |
|
IC / PP No |
: |
S2647763H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
31/03/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
SIEW WAI FAN |
|
Address |
: |
65, CHEMPAKA AVENUE, OASIS @ MULBERRY, 349673, SINGAPORE. |
|
IC / PP No |
: |
S1668089C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
15/06/2000 |
DIRECTOR 3
|
Name Of Subject |
: |
SHIN-ICHI TERASHIMA |
|
Address |
: |
13-1, IKENOSATO, OTSU, SHIGA, JAPAN. |
|
IC / PP No |
: |
TH8259805 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
15/03/2010 |
DIRECTOR 4
|
Name Of Subject |
: |
JUNG SANG WOO |
|
Address |
: |
66, FARRER ROAD, 02-05, SPANISH VILLAGE, 268849,
SINGAPORE. |
|
IC / PP No |
: |
G5274332Q |
|
Nationality |
: |
KOREAN |
|
Date of Appointment |
: |
17/12/2012 |
DIRECTOR 5
|
Name Of Subject |
: |
TAY CHIEW PIENG |
|
Address |
: |
219, BUKIT BATOK STREET 21, 08-395, 650219, SINGAPORE. |
|
IC / PP No |
: |
S7312957E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/04/2013 |
|
1) |
Name of Subject |
: |
WANG FANG |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
ABDUL JABBAR BIN KARAM DIN |
|
IC / PP No |
: |
S6936625B |
|
|
Address |
: |
21, SIGLAP HILL, FARNKEL ESTATE, 456076, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
FAZILAH ABDUL RAHMAN |
|
IC / PP No |
: |
S7430698E |
|
|
Address |
: |
108, SIMEI STREET 1, 02-748, 520108, SINGAPORE. |
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientle information.
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
2013 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
400 |
400 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of
polymers and fibers, primarily for nylon, spandex and polyester applications.
The Subject is a global integrated producer and marketer of premium fibres,
resins and intermediates
Latest fresh investigations carried out on the Subject
indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68613332 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
39 TUAS CRESCENT,638726 SINAGAPORE |
|
Current Address |
: |
39 TUAS CRESCENT, 638726, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 17th October 2014 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
17.61% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
17.04% |
] |
|
|
The fluctuating turnover reflects the fierce competition among
the existing and new market players.The management had succeeded in turning
the Subject into a profit making company. The profit could be due to better
control of its operating costs and efficiency in utilising its resources. The
Subject's management had generated acceptable return for its shareholders
using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
70 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
14 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
18 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its
capital was tied up in stocks, it could face liquidity problems. The favourable
debtors' days could be due to the good credit control measures implemented by
the Subject. The Subject had a favourable creditors' ratio where the Subject
could be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
3.18 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
4.67 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any
interest during the year. 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 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. 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 did not make any interest payment during the year.
The Subject was dependent on its shareholders' funds to finance its business
needs. 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) |
|||||
|
(Source : Department of Statistics) |
|
INDUSTRY : |
MANUFACTURING |
|
The manufacturing sector contracted by 1.1% in the fourth
quarter of 2012, led by declines in the electronics and precision engineering
clusters. These clusters were weighed down by weak global demand for
semiconductors and semiconductor-related equipment. For the whole year of
2012, the manufacturing sector grew by 0.1%, significantly lower than the
7.8% recorded in 2011 when the sector was boosted by a surge in the growth of
the biomedical manufacturing cluster. |
|
|
Output of the biomedical manufacturing cluster grew by
2.4% in the fourth quarter. The expansion was driven by the medical
technology segment which grew by a healthy 9.2%, benefitting from robust
export demand for medical devices. The pharmaceuticals segment also grew by a
modest 1.1%. For 2012, the biomedical manufacturing cluster expanded by 9.9%.
|
|
|
Output of the transport engineering cluster expanded by
4.9% in the fourth quarter. The aerospace segment grew by 6.2%, supported by
higher demand for repair jobs from commercial airlines. Similarly, the marine
& offshore engineering segment expanded by 5.0%, on the back of higher
contributions from oil rig projects and oilfield equipment components. In the
year 2012, the transport engineering cluster surged by 11%. |
|
|
The output of the precision engineering cluster shrank by
1.3% in the fourth quarter. The decline was led by the 5.3% contraction in
the machinery & systems segment, which saw weak export demand for
semiconductor-related equipment. On the other hand, the precision modules
& components segment grew by 2.9%, supported by higher production of
optical instruments & photographic equipment and electronic connectors.
In 2012, the precision engineering cluster expanded by 1.3%. |
|
|
The general manufacturing cluster's output grew by 1.2% in
the fourth quarter, driven by the 6.4% growth in the miscellaneous industries
segment. The segment's growth was supported by higher production of batteries
and constructionrelated materials. By contrast, the printing and food,
beverages & tobacco segments declined by 6.4% and 1.3% respectively. For
2012, the general manufacturing cluster grew by 2.0%. |
|
|
The chemicals cluster's output grew by 7.7% in the fourth
quarter. The petrochemicals and petroleum segments registered growth of 9.3%
and 6.3% respectively, partly due to the low base from plant shutdowns in end
of 2011. The specialty chemicals segment also expanded by 8.0% on the back of
higher regional demand. For the year 2012, the chemicals cluster declined by
0.4%, primarily due to weak regional demand for specialty chemicals in the
second and third quarter of 2012. |
|
|
Output of the electronics cluster contracted by 10% in the
fourth quarter, led by the semiconductors and computer peripherals segments
which contracted by 13% and 15% respectively. By contrast, the data storage
segment grew by 7.8%, mainly due to the low base in end of 2011 when floods
in Thailand had disrupted the supply chain for data storage products. For the
whole of 2012, the electronics cluster contracted by 11%. |
|
|
OVERALL INDUSTRY OUTLOOK : MATURE |
|
|
Incorporated in 1991, the
Subject is a Private Limited company, focusing on manufacture of polymers and
fibers, primarily for nylon, spandex and polyester applications. The Subject
has been in business for 23 years. It has built up a strong clientele base and
good reputation will enable the Subject to further enhance its business in
the near term. The Subject is expected to enjoy a stable market shares.
Presently, the Subject's issued and paid up capital stands at SGD 25,000.
However, with a strong backing from its holding company, the Subject enjoys
timely financial assistance should the needs arise. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH
SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
INVISTA SINGAPORE FIBRES PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
131,636,000 |
106,534,000 |
124,207,000 |
144,493,000 |
|
Other Income |
518,000 |
599,000 |
564,000 |
429,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
132,154,000 |
107,133,000 |
124,771,000 |
144,922,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
21,401,000 |
(1,577,000) |
10,356,000 |
42,102,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
21,401,000 |
(1,577,000) |
10,356,000 |
42,102,000 |
|
Taxation |
105,000 |
466,000 |
671,000 |
(4,493,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
21,506,000 |
(1,111,000) |
11,027,000 |
37,609,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
100,605,000 |
121,716,000 |
160,689,000 |
123,080,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
100,605,000 |
121,716,000 |
160,689,000 |
123,080,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
122,111,000 |
120,605,000 |
171,716,000 |
160,689,000 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
(20,000,000) |
(50,000,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
122,111,000 |
100,605,000 |
121,716,000 |
160,689,000 |
|
============= |
============= |
============= |
============= |
|
|
INVISTA SINGAPORE FIBRES PTE. LTD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
63,547,000 |
75,884,000 |
75,191,000 |
83,218,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
63,547,000 |
75,884,000 |
75,191,000 |
83,218,000 |
|
Stocks |
25,145,000 |
21,032,000 |
19,355,000 |
19,428,000 |
|
Trade debtors |
5,090,000 |
4,811,000 |
5,318,000 |
15,659,000 |
|
Other debtors, deposits & prepayments |
1,053,000 |
701,000 |
1,343,000 |
1,042,000 |
|
Amount due from holding company |
211,000 |
274,000 |
195,000 |
- |
|
Amount due from related companies |
11,653,000 |
9,585,000 |
7,058,000 |
- |
|
Cash & bank balances |
35,804,000 |
8,776,000 |
40,708,000 |
73,372,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
78,956,000 |
45,179,000 |
73,977,000 |
109,501,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
142,503,000 |
121,063,000 |
149,168,000 |
192,719,000 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
6,422,000 |
3,974,000 |
9,215,000 |
9,521,000 |
|
Other creditors & accruals |
3,915,000 |
4,527,000 |
4,091,000 |
15,791,000 |
|
Amounts owing to holding company |
1,002,000 |
2,957,000 |
6,748,000 |
- |
|
Amounts owing to related companies |
5,563,000 |
5,400,000 |
3,421,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
16,902,000 |
16,858,000 |
23,475,000 |
25,312,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
62,054,000 |
28,321,000 |
50,502,000 |
84,189,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
125,601,000 |
104,205,000 |
125,693,000 |
167,407,000 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
14,000 |
14,000 |
14,000 |
14,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
14,000 |
14,000 |
14,000 |
14,000 |
|
Retained profit/(loss) carried forward |
122,111,000 |
100,605,000 |
121,716,000 |
160,689,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
122,111,000 |
100,605,000 |
121,716,000 |
160,689,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
122,125,000 |
100,619,000 |
121,730,000 |
160,703,000 |
|
Deferred taxation |
3,476,000 |
3,586,000 |
3,963,000 |
6,704,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
3,476,000 |
3,586,000 |
3,963,000 |
6,704,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
125,601,000 |
104,205,000 |
125,693,000 |
167,407,000 |
|
|
============= |
============= |
============= |
============= |
|
|
INVISTA SINGAPORE FIBRES PTE. LTD. |
|
TYPES OF FUNDS |
||||
|
Cash |
35,804,000 |
8,776,000 |
40,708,000 |
73,372,000 |
|
Net Liquid Funds |
35,804,000 |
8,776,000 |
40,708,000 |
73,372,000 |
|
Net Liquid Assets |
36,909,000 |
7,289,000 |
31,147,000 |
64,761,000 |
|
Net Current Assets/(Liabilities) |
62,054,000 |
28,321,000 |
50,502,000 |
84,189,000 |
|
Net Tangible Assets |
125,601,000 |
104,205,000 |
125,693,000 |
167,407,000 |
|
Net Monetary Assets |
33,433,000 |
3,703,000 |
27,184,000 |
58,057,000 |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
|
Total Liabilities |
20,378,000 |
20,444,000 |
27,438,000 |
32,016,000 |
|
Total Assets |
142,503,000 |
121,063,000 |
149,168,000 |
192,719,000 |
|
Net Assets |
125,601,000 |
104,205,000 |
125,693,000 |
167,407,000 |
|
Net Assets Backing |
122,125,000 |
100,619,000 |
121,730,000 |
160,703,000 |
|
Shareholders' Funds |
122,125,000 |
100,619,000 |
121,730,000 |
160,703,000 |
|
Total Share Capital |
14,000 |
14,000 |
14,000 |
14,000 |
|
Total Reserves |
122,111,000 |
100,605,000 |
121,716,000 |
160,689,000 |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
2.12 |
0.52 |
1.73 |
2.90 |
|
Liquid Ratio |
3.18 |
1.43 |
2.33 |
3.56 |
|
Current Ratio |
4.67 |
2.68 |
3.15 |
4.33 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
70 |
72 |
57 |
49 |
|
Debtors Ratio |
14 |
16 |
16 |
40 |
|
Creditors Ratio |
18 |
14 |
27 |
24 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
0.17 |
0.20 |
0.23 |
0.20 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Assets Backing Ratio |
8,971.50 |
7,443.21 |
8,978.07 |
11,957.64 |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
16.26 |
(1.48) |
8.34 |
29.14 |
|
Net Profit Margin |
16.34 |
(1.04) |
8.88 |
26.03 |
|
Return On Net Assets |
17.04 |
(1.51) |
8.24 |
25.15 |
|
Return On Capital Employed |
17.04 |
(1.51) |
8.24 |
25.15 |
|
Return On Shareholders' Funds/Equity |
17.61 |
(1.10) |
9.06 |
23.40 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
18.00 |
4.53 |
0.00 |
|
NOTES TO ACCOUNTS |
||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.31 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
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.