|
|
REGISTRATION
NO.
|
:
|
200707731-H
|
|
COMPANY NAME
|
:
|
SANYI
RESOURCES PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
04/05/2007
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
10, Jalan
Besar, 11-12, Sim Lim Tower, 208787, Singapore.
|
|
BUSINESS
ADDRESS
|
:
|
10 Jalan
Besar, 11-12 Sim Lim Tower, 208778, Singapore.
|
|
TEL.NO.
|
:
|
65-62923131
|
|
FAX.NO.
|
:
|
65-62922154
|
|
CONTACT PERSON
|
:
|
LIM HOCK KENG
( DIRECTOR )
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
TRADING OF
PAPERS
|
|
|
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
500,000.00
ORDINARY SHARE, OF A VALUE OF SGD 500,000.00
|
|
|
|
|
SALES
|
:
|
USD 80,387,005
[2013]
|
|
NET WORTH
|
:
|
USD 772,217
[2013]
|
|
|
|
|
STAFF STRENGTH
|
:
|
4 [2014]
|
|
BANKER (S)
|
:
|
|
CITIBANK
N.A.
DBS BANK LTD
MALAYAN BANKING BHD
UNITED OVERSEAS BANK LIMITED
|
|
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
LIMITED
|
|
PAYMENT
|
:
|
GOOD
|
|
MANAGEMENT
CAPABILITY
|
:
|
WEAK
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
N/A
|
|
CURRENCY
EXPOSURE
|
:
|
N/A
|
|
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 papers.
Share Capital
History
|
Date
|
Issue &
Paid Up Capital
|
|
14/02/2014
|
SGD 500,000.00
|
The major shareholder(s) of the Subject are shown
as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
LIM HOCK KENG
+
|
224, UPPER
PAYA LEBAR ROAD, PAYA LEBAR GARDENS, 534887, SINGAPORE.
|
S1391143F
|
245,000.00
|
49.00
|
|
JANLEX
HOLDINGS LTD
|
AKARA BUILDING
24, DE CASTRO STREET, WICKHAMS CAY 1, ROAD TOWN, TORTOLA, VIRGIN ISLANDS,
BRITISH.
|
T07UF1610
|
255,000.00
|
51.00
|
|
|
|
---------------
|
------
|
|
|
|
500,000.00
|
100.00
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
LIM HOCK KENG
|
|
Address
|
:
|
224, UPPER PAYA
LEBAR ROAD, PAYA LEBAR GARDENS, 534887, SINGAPORE.
|
|
IC / PP No
|
:
|
S1391143F
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of
Appointment
|
:
|
04/05/2007
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
LIM HOCK KENG
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
Auditor
|
:
|
ENTERPRISE
ASSURANCE PAC
|
|
Auditor'
Address
|
:
|
N/A
|
|
|
|
|
|
|
|
1)
|
Company
Secretary
|
:
|
WAI SIEW PENG
|
|
IC / PP No
|
:
|
S2583020B
|
|
|
|
|
|
Address
|
:
|
510, BUKIT
BATOK STREET 52, 07-09, 650510, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
Banking relations are maintained principally with :
|
3)
|
Name
|
:
|
MALAYAN
BANKING BHD
|
|
|
|
|
|
|
|
|
|
4)
|
Name
|
:
|
UNITED
OVERSEAS BANK LIMITED
|
|
|
|
|
|
|
|
|
|
Charge No
|
Creation Date
|
Charge
Description
|
Chargee Name
|
Total Charge
|
Status
|
|
C200802047
|
28/02/2008
|
N/A
|
UNITED
OVERSEAS BANK LIMITED
|
-
|
Unsatisfied
|
|
C200808671
|
17/09/2008
|
N/A
|
UNITED
OVERSEAS BANK LIMITED
|
-
|
Unsatisfied
|
|
C201011952
|
09/12/2010
|
N/A
|
CITIBANK N.A.
|
-
|
Unsatisfied
|
|
C201108274
|
07/07/2011
|
N/A
|
MALAYAN
BANKING BERHAD
|
-
|
Unsatisfied
|
|
C201201123
|
30/01/2012
|
N/A
|
DBS BANK LTD
|
-
|
Unsatisfied
|
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.
|
SOURCES OF RAW
MATERIALS:
|
|
Local
|
:
|
N/A
|
|
Overseas
|
:
|
N/A
|
|
|
|
The Subject refused to disclose any information on 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
|
[
|
|
]
|
|
|
|
|
|
|
|
Local
|
:
|
N/A
|
|
|
|
|
Overseas
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Subject refused to disclose any information on its clientele.
|
Total Number
of Employees:
|
|
YEAR
|
2014
|
2012
|
|
|
GROUP
|
N/A
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY
|
4
|
4
|
|
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of papers.
The Subject refused to disclose any information on its operation.
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone
Number Provided By Client
|
:
|
N/A
|
|
Current
Telephone Number
|
:
|
65-62923131
|
|
Match
|
:
|
N/A
|
|
|
|
|
Address
Provided by Client
|
:
|
10 JALAN BESAR,
11-12 SIM LIM TOWER,208778 SINGAPORE
|
|
Current
Address
|
:
|
10 JALAN
BESAR, 11-12 SIM LIM TOWER, 208778, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
Other
Investigations
On 28th October 2014 we contacted one of the staff from the Subject and she provided
some information.
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Decreased
|
[
|
2009 - 2013
|
]
|
|
|
Profit/(Loss)
Before Tax
|
:
|
Decreased
|
[
|
2009 - 2013
|
]
|
|
|
Return on
Shareholder Funds
|
:
|
Unfavourable
|
[
|
(51.55%)
|
]
|
|
|
Return on Net
Assets
|
:
|
Unfavourable
|
[
|
(18.97%)
|
]
|
|
|
|
|
|
|
|
|
|
The continuous
fall in turnover could be due to the lower demand for the Subject's products
/ services.The Subject incurred losses during the year due to the
inefficient control of its operating costs. 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
|
:
|
Nil
|
[
|
0 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Favourable
|
[
|
6 Days
|
]
|
|
|
Creditors
Ratio
|
:
|
Favourable
|
[
|
14 Days
|
]
|
|
|
|
|
|
|
|
|
|
As the Subject
is a service oriented company, the Subject does not need to keep stocks.
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
|
[
|
1.18 Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
1.18 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
|
:
|
Unfavourable
|
[
|
(0.58 Times)
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.00 Times
|
]
|
|
|
|
|
|
|
|
|
|
The Subject
incurred losses in the year. It did not generate sufficient income to
service its interest. If the situation does not improve, the Subject
may be vulnerable to default in servicing the interest. The Subject had no
gearing and hence it had virtually no financial risk. The Subject was
financed by its shareholders' funds and internally generated fund. During
the economic downturn, the Subject, having a zero gearing, will be able to
compete better than those which are highly geared in the same industry.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment :
|
|
|
|
|
|
|
|
The Subject's
losses could be attributed to the lower turnover which in turn could be the
result of unfavourable market conditions. 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's interest cover was
negative, indicating that it did not generate sufficient income to service
its interest. If its result does not show impressive improvements or
succeed obtaining short term financing or capital injection, it may not be
able to service its interest and repay the loans. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide
funds to finance its business. The Subject has good chance of getting
loans, if the needs arises.
|
|
|
|
|
|
|
|
|
Overall
financial condition of the Subject : 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 :
|
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
|
|
Incorporated in 2007, the Subject is a Private Limited company, focusing on
trading of papers. Having been in business for more than 5 years, the Subject
has established a remarkable clientele base for itself which has
contributed to its business growth. Presently, the issued and paid up
capital of the Subject stands at MYR 150,000. Presently, the issued and
paid up capital of the Subject stands at SGD 500,000. Under the control of
its directors, we considered that the Subject's business position in the
market is much dependent on their abilities.
Being a small company, the Subject's business operation is supported by 4
employees. Overall, we regard that the Subject's management capability is
weak. Without capable management, the Subject is unlikely to be successful
and often contribute to unacceptable levels of accountability. Weak
management can affect productivity, profitability, sales growth and
ultimately can result in the failure of a business.
Due to the challenging market conditions, the Subject's business
performance seems to be deteriorating and losses incurred. The Subject has
generated an unfavourable return on shareholders' funds indicating that the
management was inefficient in utilising its funds to generate return. The
Subject is in average liquidity position with its current liabilities well
covered by it current assets. Hence, it has sufficient working capital to
meet its short term financial obligations. Being a zero geared company, the
Subject virtually has no financial risk as it is mainly dependent on its
internal funds to finance its business. Given a positive net worth standing
at USD 772,217, the Subject should be able to maintain its business in the
near terms.
Overall, the Subject's payment habit is good as the Subject has a good
credit control and it could be taking advantage of the cash discounts while
maintaining a good reputation with its creditors.
The industry shows an upward trend and this trend is very likely to sustain
in the near terms. Hence, the Subject is expected to benefit from the
favourable outlook of the industry.
Based on the above condition, we recommend credit be granted to the Subject
normally.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
|
|
SANYI
RESOURCES PTE. LTD.
|
|
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
|
Company
|
Company
|
Company
|
Company
|
Company
|
|
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
|
USD
|
USD
|
USD
|
USD
|
USD
|
|
|
|
|
|
|
|
TURNOVER
|
80,387,005
|
168,449,891
|
170,768,485
|
90,891,250
|
54,438,445
|
|
Other Income
|
1,721
|
253,646
|
264,600
|
86,853
|
161,635
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Total Turnover
|
80,388,726
|
168,703,537
|
171,033,085
|
90,978,103
|
54,600,080
|
|
Costs of Goods
Sold
|
(79,179,791)
|
(166,933,882)
|
(167,961,512)
|
(89,130,490)
|
(53,161,374)
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
Gross Profit
|
1,208,935
|
1,769,655
|
3,071,573
|
1,847,613
|
1,438,706
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
(398,087)
|
68,437
|
221,789
|
226,755
|
299,956
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
(398,087)
|
68,437
|
221,789
|
226,755
|
299,956
|
|
Taxation
|
-
|
(25,013)
|
(15,190)
|
(20,574)
|
(27,921)
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
(398,087)
|
43,424
|
206,599
|
206,181
|
272,035
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
|
|
|
As previously
reported
|
795,180
|
751,756
|
789,507
|
583,326
|
311,291
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
As restated
|
795,180
|
751,756
|
789,507
|
583,326
|
311,291
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
397,093
|
795,180
|
996,106
|
789,507
|
583,326
|
|
CAPITALISATION
FOR BONUS ISSUES
|
-
|
-
|
(244,350)
|
-
|
-
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD
|
397,093
|
795,180
|
751,756
|
789,507
|
583,326
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
INTEREST
EXPENSE (as per notes to P&L)
|
|
|
|
|
|
|
Others
|
251,596
|
358,985
|
783,898
|
188,289
|
93,688
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
251,596
|
358,985
|
783,898
|
188,289
|
93,688
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
|
SANYI
RESOURCES PTE. LTD.
|
|
ASSETS
EMPLOYED:
|
|
|
|
|
|
|
FIXED ASSETS
|
38,518
|
42,012
|
10,650
|
31
|
1,427
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG
TERM ASSETS
|
38,518
|
42,012
|
10,650
|
31
|
1,427
|
|
|
|
|
|
|
|
Stocks
|
-
|
-
|
2,600,316
|
-
|
958,931
|
|
Trade debtors
|
1,228,257
|
10,656,964
|
6,146,537
|
8,575,276
|
8,481,785
|
|
Other debtors,
deposits & prepayments
|
74,794
|
17,545
|
2,613,293
|
53,696
|
2,347
|
|
Short term
deposits
|
-
|
-
|
-
|
3,104,007
|
386,278
|
|
Cash &
bank balances
|
3,421,193
|
1,879,024
|
1,107,860
|
2,272,835
|
1,026,238
|
|
Others
|
-
|
-
|
-
|
2,834
|
10,049
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT
ASSETS
|
4,724,244
|
12,553,533
|
12,468,006
|
14,008,648
|
10,865,628
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL ASSET
|
4,762,762
|
12,595,545
|
12,478,656
|
14,008,679
|
10,867,055
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
|
|
|
Trade
creditors
|
3,136,703
|
11,132,236
|
8,073,309
|
10,312,452
|
9,851,196
|
|
Other
creditors & accruals
|
66,981
|
195,882
|
3,263,277
|
232,820
|
260,947
|
|
Deposits from
customers
|
786,861
|
72,110
|
-
|
-
|
-
|
|
Provision for
taxation
|
-
|
25,013
|
15,190
|
20,839
|
27,725
|
|
Other
liabilities
|
-
|
-
|
-
|
2,522,287
|
12,857
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT
LIABILITIES
|
3,990,545
|
11,425,241
|
11,351,776
|
13,088,398
|
10,152,725
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
733,699
|
1,128,292
|
1,116,230
|
920,250
|
712,903
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL NET
ASSETS
|
772,217
|
1,170,304
|
1,126,880
|
920,281
|
714,330
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
|
|
Ordinary share
capital
|
375,124
|
375,124
|
375,124
|
130,774
|
130,774
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
375,124
|
375,124
|
375,124
|
130,774
|
130,774
|
|
|
|
|
|
|
|
Retained
profit/(loss) carried forward
|
397,093
|
795,180
|
751,756
|
789,507
|
583,326
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
397,093
|
795,180
|
751,756
|
789,507
|
583,326
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
772,217
|
1,170,304
|
1,126,880
|
920,281
|
714,100
|
|
|
|
|
|
|
|
Deferred
taxation
|
-
|
-
|
-
|
-
|
230
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG
TERM LIABILITIES
|
-
|
-
|
-
|
-
|
230
|
|
----------------
|
----------------
|
----------------
|
----------------
|
----------------
|
|
772,217
|
1,170,304
|
1,126,880
|
920,281
|
714,330
|
|
=============
|
=============
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SANYI
RESOURCES PTE. LTD.
|
|
TYPES OF FUNDS
|
|
|
|
|
|
|
Cash
|
3,421,193
|
1,879,024
|
1,107,860
|
5,376,842
|
1,412,516
|
|
Net Liquid
Funds
|
3,421,193
|
1,879,024
|
1,107,860
|
5,376,842
|
1,412,516
|
|
Net Liquid
Assets
|
733,699
|
1,128,292
|
(1,484,086)
|
920,250
|
(246,028)
|
|
Net Current
Assets/(Liabilities)
|
733,699
|
1,128,292
|
1,116,230
|
920,250
|
712,903
|
|
Net Tangible
Assets
|
772,217
|
1,170,304
|
1,126,880
|
920,281
|
714,330
|
|
Net Monetary
Assets
|
733,699
|
1,128,292
|
(1,484,086)
|
920,250
|
(246,258)
|
|
BALANCE SHEET
ITEMS
|
|
|
|
|
|
|
Total
Borrowings
|
0
|
0
|
0
|
0
|
0
|
|
Total
Liabilities
|
3,990,545
|
11,425,241
|
11,351,776
|
13,088,398
|
10,152,955
|
|
Total Assets
|
4,762,762
|
12,595,545
|
12,478,656
|
14,008,679
|
10,867,055
|
|
Net Assets
|
772,217
|
1,170,304
|
1,126,880
|
920,281
|
714,330
|
|
Net Assets
Backing
|
772,217
|
1,170,304
|
1,126,880
|
920,281
|
714,100
|
|
Shareholders'
Funds
|
772,217
|
1,170,304
|
1,126,880
|
920,281
|
714,100
|
|
Total Share
Capital
|
375,124
|
375,124
|
375,124
|
130,774
|
130,774
|
|
Total Reserves
|
397,093
|
795,180
|
751,756
|
789,507
|
583,326
|
|
LIQUIDITY
(Times)
|
|
|
|
|
|
|
Cash Ratio
|
0.86
|
0.16
|
0.10
|
0.41
|
0.14
|
|
Liquid Ratio
|
1.18
|
1.10
|
0.87
|
1.07
|
0.98
|
|
Current Ratio
|
1.18
|
1.10
|
1.10
|
1.07
|
1.07
|
|
WORKING
CAPITAL CONTROL (Days)
|
|
|
|
|
|
|
Stock Ratio
|
0
|
0
|
6
|
0
|
6
|
|
Debtors Ratio
|
6
|
23
|
13
|
34
|
57
|
|
Creditors
Ratio
|
14
|
24
|
18
|
42
|
68
|
|
SOLVENCY
RATIOS (Times)
|
|
|
|
|
|
|
Gearing Ratio
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
|
Liabilities
Ratio
|
5.17
|
9.76
|
10.07
|
14.22
|
14.22
|
|
Times Interest
Earned Ratio
|
(0.58)
|
1.19
|
1.28
|
2.20
|
4.20
|
|
Assets Backing
Ratio
|
2.06
|
3.12
|
3.00
|
7.04
|
5.46
|
|
PERFORMANCE
RATIO (%)
|
|
|
|
|
|
|
Operating Profit
Margin
|
(0.50)
|
0.04
|
0.13
|
0.25
|
0.55
|
|
Net Profit
Margin
|
(0.50)
|
0.03
|
0.12
|
0.23
|
0.50
|
|
Return On Net
Assets
|
(18.97)
|
36.52
|
89.25
|
45.10
|
55.11
|
|
Return On
Capital Employed
|
(18.97)
|
36.52
|
89.25
|
45.10
|
55.11
|
|
Return On
Shareholders' Funds/Equity
|
(51.55)
|
3.71
|
18.33
|
22.40
|
38.09
|
|
Dividend Pay
Out Ratio (Times)
|
0.00
|
0.00
|
0.00
|
0.00
|
0.00
|
|
NOTES TO
ACCOUNTS
|
|
|
|
|
|
|
Contingent
Liabilities
|
0
|
0
|
0
|
0
|
0
|
|