|
Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
TOMEN (SINGAPORE) ELECTRONICS PTE LTD |
|
|
|
|
Registered Office : |
175A, Bencoolen Street, 09-12, Burlington Square, 189650 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
04.03.1995 |
|
|
|
|
Com. Reg. No.: |
199501523-H |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is principally engaged in the wholesale of electronic
components. |
|
|
|
|
No of Employees : |
50 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SINGAPORE - ECONOMIC OVERVIEW
Singapore has a highly
developed and successful free-market economy. It enjoys a remarkably open and corruption-free
environment, stable prices, and a per capita GDP higher than that of most
developed countries. The economy depends heavily on exports, particularly in
consumer electronics, information technology products, pharmaceuticals, and on
a growing financial services sector. The economy contracted 0.6% in 2009 as a
result of the global financial crisis, but rebounded 15.1% in 2010, on the
strength of renewed exports, before slowing to in 2011-13, largely a result of
soft demand for exports during the second European recession. Over the longer
term, the government hopes to establish a new growth path that focuses on
raising productivity. Singapore has attracted major investments in
pharmaceuticals and medical technology production and will continue efforts to
establish Singapore as Southeast Asia's financial and high-tech hub.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
199501523-H |
|
COMPANY NAME |
: |
TOMEN
(SINGAPORE) ELECTRONICS PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
04/03/1995 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
175A, BENCOOLEN STREET, 09-12, BURLINGTON SQUARE, 189650, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
175A BENCOOLEN STREET, #09-12 BURLINGTON SQUARE, 189650, SINGAPORE. |
|
TEL.NO. |
: |
65-62211422 |
|
FAX.NO. |
: |
65-62210400 |
|
CONTACT PERSON |
: |
LEONG KHAI MUN ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF ELECTRONIC COMPONENTS |
|
ISSUED AND PAID UP CAPITAL |
: |
500,000.00 ORDINARY SHARE, OF A VALUE OF SGD 500,000.00 |
|
SALES |
: |
USD 186,347,365 [2013] |
|
NET WORTH |
: |
USD 20,410,040 [2013] |
|
STAFF STRENGTH |
: |
50 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
SATISFACTORY |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY
/ BACKGROUND
|
The Subject is a private limited company and is allowed to have a
minimum of one and a maximum of forty-nine shareholders. As a private limited company,
the Subject must have at least two directors. A private limited company is a
separate legal entity from its shareholders. As a separate legal entity, the
Subject is capable of owning assets, entering into contracts, sue or be sued by
other companies. The liabilities of the shareholders are to the extent of the
equity they have taken up and the creditors cannot claim on shareholders'
personal assets even if the Subject is insolvent. The Subject is governed by
the Companies Act and the company must file its annual returns, together with
its financial statements with the Registrar of Companies.
The Subject is principally engaged in the (as a / as an) wholesale of
electronic components.
The immediate holding company of the Subject is TOMEN ELECTRONICS
CORPORATION, a company incorporated in JAPAN.
The ultimate holding company of the Subject is TOYOTA TSUSHO
CORPORATION, a company incorporated in JAPAN.
Share Capital
History
|
Date |
Issue & Paid Up Capital |
|
21/10/2014 |
SGD 500,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TOMEN ELECTRONICS CORPORATION |
NISHIN BUILDING, 8-27, KOHNAN 1-CHOME, MINATO-KU, TOKYO, 108-8510,
JAPAN. |
T03UF0318 |
500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
819518U |
MALAYSIA |
TOMEN ELECTRONICS (MALAYSIA) SDN. BHD. |
100.00 |
31/12/2013 |
|
INDIA |
TOMEN ELECTRONICS (INDIA) PVT. LTD. |
95.00 |
31/12/2013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MINORU HIRATA |
|
Address |
: |
4-1-106, 7-CHOME, KINUTA, SETAGAYA-KU, TOKYO, 157-0073, JAPAN. |
|
IC / PP No |
: |
TZ0402311 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
06/08/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
TAKEO SUZUKI |
|
Address |
: |
2-403, 5-4, CHUORINKAN 6CHOME, YAMATO-SHI, KANAGAWA, 242-0007, JAPAN. |
|
IC / PP No |
: |
TK0064040 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
20/06/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
LEONG KHAI MUN |
|
Address |
: |
79, FARRER DRIVE, 12-02, SOMMERVILLE PARK, 259283, SINGAPORE. |
|
IC / PP No |
: |
S1471316F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
20/02/2008 |
DIRECTOR 4
|
Name Of Subject |
: |
TAKASHI ISHIBASHI |
|
Address |
: |
2-24-21-101, YOSHIMOTO-CHO, KOHOKU-KU, YOKOHAMA-CITY, KANAGAWA,
2230062, JAPAN. |
|
IC / PP No |
: |
TK9021200 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/01/2009 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
LEONG KHAI MUN |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
PRICEWATERHOUSECOOPERS LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LOTUS ISABELLA LIM MEI HUA |
|
IC / PP No |
: |
S2171051B |
|
|
Address |
: |
606, CLEMENTI WEST STREET 1, 04-53, 120606, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
LIN MOI HEYANG |
|
IC / PP No |
: |
S2750922C |
|
|
Address |
: |
210, ANG MO KIO AVENUE 3, 07-1614, 560210, SINGAPORE. |
|
|
|
BANKING
|
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods Traded |
: |
ELECTRONIC COMPONENTS |
|
|
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) wholesale of
electronic components.
The Subject distributes electronic devices, such as semiconductors,
communication systems, and computer peripherals.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62211422 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
175A, BENCOOLEN STREET, 09-00,BURLINGTON SQUARE, 189650 |
|
Current Address |
: |
175A BENCOOLEN STREET, #09-12 BURLINGTON SQUARE, 189650, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
On 17th October 2014 we contacted one of the staff from the Subject and she
provided some information.
The Subject is not aware of the address provided.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
1.34% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
1.93% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.The dip in profit could be due to the stiff
market competition which reduced the Subject's profit margin. 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 |
: |
Favourable |
[ |
34 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
61 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
19 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 |
: |
Favourable |
[ |
1.08 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.62 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 |
[ |
3.41 Times |
] |
|
|
Gearing Ratio |
: |
Acceptable |
[ |
0.84 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's gearing was slightly high. The Subject is
utilising the leverage concept to fund its expansion. However, the high
gearing has added financial risks to the Subject. It will be more vulnerable
in times of economy downturn. |
||||||
|
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's gearing was slightly high and its
financial risk was also high. If no plans are made to reduce its gearing, the
Subject's performance may deteriorate in the coming year. |
||||||
|
Overall
financial condition of the Subject : LIMITED |
||||||
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. |
|
TOMEN (SINGAPORE) ELECTRONICS PTE LTD |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
186,347,365 |
181,222,227 |
202,223,363 |
|
Other Income |
325,363 |
204,412 |
827 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
186,672,728 |
181,426,639 |
202,224,190 |
|
Costs of Goods Sold |
(178,806,248) |
(173,180,701) |
(193,047,161) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
7,866,480 |
8,245,938 |
9,177,029 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
277,714 |
299,854 |
1,237,150 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
277,714 |
299,854 |
1,237,150 |
|
Taxation |
(4,172) |
(44,782) |
(26,323) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
273,542 |
255,072 |
1,210,827 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
19,779,355 |
19,524,283 |
18,313,456 |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
19,779,355 |
19,524,283 |
18,313,456 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
20,052,897 |
19,779,355 |
19,524,283 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
20,052,897 |
19,779,355 |
19,524,283 |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Term loan / Borrowing |
115,229 |
120,250 |
119,123 |
|
---------------- |
---------------- |
---------------- |
|
|
115,229 |
120,250 |
119,123 |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
TOMEN (SINGAPORE) ELECTRONICS PTE LTD |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
163,358 |
236,259 |
241,037 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||
|
Subsidiary companies |
184,249 |
184,249 |
184,249 |
|
Deferred assets |
41,651 |
43,004 |
87,133 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
225,900 |
227,253 |
271,382 |
|
Others |
6,383 |
6,383 |
6,383 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
6,383 |
6,383 |
6,383 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
395,641 |
469,895 |
518,802 |
|
Stocks |
17,461,522 |
18,941,603 |
20,839,123 |
|
Trade debtors |
31,032,885 |
36,775,028 |
28,212,347 |
|
Other debtors, deposits & prepayments |
204,718 |
217,552 |
122,459 |
|
Amount due from holding company |
5,528 |
774 |
25,584 |
|
Amount due from subsidiary companies |
320,931 |
371,968 |
57,561 |
|
Amount due from related companies |
2,046,649 |
1,844,240 |
1,940,221 |
|
Cash & bank balances |
977,658 |
1,589,206 |
3,778,568 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
52,049,891 |
59,740,371 |
54,975,863 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
52,445,532 |
60,210,266 |
55,494,665 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
9,089,345 |
9,615,565 |
7,578,287 |
|
Other creditors & accruals |
692,842 |
698,558 |
84,194 |
|
Short term borrowings/Term loans |
17,134,378 |
25,654,000 |
23,112,000 |
|
Amounts owing to holding company |
4,111,375 |
3,019,474 |
4,006,374 |
|
Amounts owing to subsidiary companies |
132,640 |
68,367 |
71,472 |
|
Amounts owing to related companies |
872,093 |
1,017,804 |
641,716 |
|
Provision for taxation |
2,819 |
- |
119,196 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
32,035,492 |
40,073,768 |
35,613,239 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
20,014,399 |
19,666,603 |
19,362,624 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
20,410,040 |
20,136,498 |
19,881,426 |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
357,143 |
357,143 |
357,143 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
357,143 |
357,143 |
357,143 |
|
Retained profit/(loss) carried forward |
20,052,897 |
19,779,355 |
19,524,283 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
20,052,897 |
19,779,355 |
19,524,283 |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
20,410,040 |
20,136,498 |
19,881,426 |
|
---------------- |
---------------- |
---------------- |
|
|
20,410,040 |
20,136,498 |
19,881,426 |
|
|
============= |
============= |
============= |
FINANCIAL
RATIO
|
|
TOMEN (SINGAPORE) ELECTRONICS PTE LTD |
|
TYPES OF FUNDS |
|||
|
Cash |
977,658 |
1,589,206 |
3,778,568 |
|
Net Liquid Funds |
977,658 |
1,589,206 |
3,778,568 |
|
Net Liquid Assets |
2,552,877 |
725,000 |
(1,476,499) |
|
Net Current Assets/(Liabilities) |
20,014,399 |
19,666,603 |
19,362,624 |
|
Net Tangible Assets |
20,403,657 |
20,130,115 |
19,875,043 |
|
Net Monetary Assets |
2,552,877 |
725,000 |
(1,476,499) |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
17,134,378 |
25,654,000 |
23,112,000 |
|
Total Liabilities |
32,035,492 |
40,073,768 |
35,613,239 |
|
Total Assets |
52,445,532 |
60,210,266 |
55,494,665 |
|
Net Assets |
20,410,040 |
20,136,498 |
19,881,426 |
|
Net Assets Backing |
20,410,040 |
20,136,498 |
19,881,426 |
|
Shareholders' Funds |
20,410,040 |
20,136,498 |
19,881,426 |
|
Total Share Capital |
357,143 |
357,143 |
357,143 |
|
Total Reserves |
20,052,897 |
19,779,355 |
19,524,283 |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.03 |
0.04 |
0.11 |
|
Liquid Ratio |
1.08 |
1.02 |
0.96 |
|
Current Ratio |
1.62 |
1.49 |
1.54 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
34 |
38 |
38 |
|
Debtors Ratio |
61 |
74 |
51 |
|
Creditors Ratio |
19 |
20 |
14 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.84 |
1.27 |
1.16 |
|
Liabilities Ratio |
1.57 |
1.99 |
1.79 |
|
Times Interest Earned Ratio |
3.41 |
3.49 |
11.39 |
|
Assets Backing Ratio |
57.13 |
56.36 |
55.65 |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
0.15 |
0.17 |
0.61 |
|
Net Profit Margin |
0.15 |
0.14 |
0.60 |
|
Return On Net Assets |
1.93 |
2.09 |
6.82 |
|
Return On Capital Employed |
1.92 |
2.09 |
6.82 |
|
Return On Shareholders' Funds/Equity |
1.34 |
1.27 |
6.09 |
|
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.61.32 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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.