|
Report Date : |
09.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
61, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.11.2012 |
|
|
|
|
Date of Incorporation : |
11.12.2009 |
|
|
|
|
Com. Reg. No.: |
200923153-G |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Trading of Fabrics and Textiles |
|
|
|
|
No. of Employees |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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. |
: |
200923153-G |
|
COMPANY NAME |
: |
S.A. INTERIOR FABRICS PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
11/12/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
61, KAKI BUKIT AVENUE 1, 05-27, SHUN LI INDUSTRIAL PARK, 417943,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
NO 61 KAKI BUKIT AVENUE 1 #05-29 SHUNLI INDUSTRIAL PARK, 417943,
SINGAPORE. |
|
TEL.NO. |
: |
65-68429640 |
|
FAX.NO. |
: |
65-68429582 |
|
CONTACT PERSON |
: |
SHEREEN ( STAFF ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF FABRICS AND TEXTILES |
|
ISSUED AND PAID UP CAPITAL |
: |
100,000.00 ORDINARY SHARE, OF A VALUE OF SGD 100,000.00 |
|
SALES |
: |
SGD 7,566,453 [2012] |
|
NET WORTH |
: |
SGD (260,331) [2012] |
|
STAFF STRENGTH |
: |
10 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
POOR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
The Subject is an exempt private company whose shares are not held by any
corporate body and has no more than 20 shareholders who are all natural
persons. An exempt company is a type of private limited company. 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,
suing or be sued by other companies. An exempt private company with an annual
turnover of less than SGD5 million are exempted from statutory auditing
requirements. Instead of filing audited annual accounts, the Subject has to
file in a document duly signed by its director in charge of its finance and the
company secretary stating that the Subject is able to meet all its obligations
as and when they fall due. The Subject is not required to have their accounts
audited. However, the Subject will prepare unaudited accounts for purposes of
AGMs and filing with Registry Office if it is unable to meet all its
obligations as and when they fall due .
The Subject is principally engaged in the (as a / as an) trading of
fabrics and textiles.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
04/09/2014 |
SGD 100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
VIMAL KUMAR PREM BHARWANI + |
JALAN MANGUNSARKORO, 36, RT/RW 001/007, MENTENG, PUSAT JAKARTA,
INDONESIA. |
P779920 |
50,000.00 |
50.00 |
|
PREM LALCHAND BHARWANI + |
JALAN MERPATI I, 1-2, RT/RW:004/010 GUNUNG SAHARI SLT, KEMAYORAN,
PUSAT JAKARTA, INDONESIA. |
A2953999 |
50,000.00 |
50.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
100,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
MARGARET LIM SIEW MUI |
|
Address |
: |
14, MOONBEAM VIEW, HOLLAND GARDENS, 277268, SINGAPORE. |
|
IC / PP No |
: |
S1462911D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
11/12/2009 |
DIRECTOR 2
|
Name Of Subject |
: |
VIMAL KUMAR PREM BHARWANI |
|
Address |
: |
JALAN MANGUNSARKORO, 36, RT/RW 001/007, MENTENG, PUSAT JAKARTA,
INDONESIA. |
|
IC / PP No |
: |
P779920 |
|
Nationality |
: |
INDONESIAN |
|
Date of Appointment |
: |
11/12/2009 |
DIRECTOR 3
|
Name Of Subject |
: |
PREM LALCHAND BHARWANI |
|
Address |
: |
JALAN MERPATI I, 1-2, RT/RW:004/010 GUNUNG SAHARI SLT, KEMAYORAN,
PUSAT JAKARTA, INDONESIA. |
|
IC / PP No |
: |
A2953999 |
|
Nationality |
: |
INDONESIAN |
|
Date of Appointment |
: |
11/12/2009 |
|
1) |
Name of Subject |
: |
SHEREEN |
|
|
Position |
: |
STAFF |
|
Auditor |
: |
LEE S F & CO |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
SEET SU MENG |
|
|
IC / PP No |
: |
S1601987I |
|
|
|
|
|
|
|
Address |
: |
417, ANG MO KIO AVENUE 10, 09-1021, 560417, SINGAPORE. |
No Banker found in our databank.
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201213396 |
20/11/2012 |
N/A |
BANK OF SINGAPORE LIMITED |
- |
Unsatisfied |
|
C201303641 |
08/03/2013 |
N/A |
BANK OF SINGAPORE LIMITED |
- |
Unsatisfied |
* 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 |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
FABRICS AND TEXTILES
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
10 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of fabrics and
textiles.
The Subject sells textiles and fabrics.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
65-68429640 |
|
Current Telephone Number |
: |
65-68429640 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
NO 61 KAKI BUKIT AVE 1 #05-29 SHUNLI INDUSTRIAL PARK SINGAPORE |
|
Current Address |
: |
NO 61 KAKI BUKIT AVENUE 1 #05-29 SHUNLI INDUSTRIAL PARK, 417943,
SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
On 3rd September 2014 we contacted one of the staff from the Subject and she
provided some information.
The address provided is incomplete.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
13.67% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
(86.72%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
17.59% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
18.83% |
] |
|
|
|
|
|
|
|
|
|
|
The higher turnover could be attributed to the favourable market condition
and the Subject could be gaining the market share progressively.The Subject
could be more efficient in controlling its operating costs and had managed to
reduce its losses during the year. Although the Subject's returns showed
positive figures it is not reflective of the true situation. The Subject
incurred losses during the year and its shareholders' funds have turned red.
The positive returns on shareholders' funds is the result of losses divided
by negative shareholders' funds. The Subject's management was inefficient in
utilising the assets to generate returns. |
||||||
|
|
|
|
|
|
|
|
|
Working Capital Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
14 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
55 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in 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 |
: |
Unfavourable |
[ |
0.45 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.49 Times |
] |
|
|
|
|
|
|
|
|
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short
term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Unfavourable |
[ |
(25.42 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
(0.14 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's
gearing was negative during the year as its shareholders' funds was in the
red. This means the Subject is running its business using borrowed money. We
consider the Subject as facing high financial risks. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The higher turnover had helped to reduce the Subject's losses. Due to
its weak liquidity position, the Subject will be faced with problems in
meeting all its short term obligations if no short term loan is obtained or
additional capital injected into the Subject. The Subject's interest cover
was negative, indicating that it did not generate sufficient income to
service its interest. If its result does not show impressive improvements or
succeed obtaining short term financing or capital injection, it may not be
able to service its interest and repay the loans. The Subject has high
financial risks. If its shareholders do not inject more capital into the
company or if its business performance does not improve, its going concern
may be in question. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : POOR |
||||||
|
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 |
|
|
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
S.A. INTERIOR FABRICS PTE. LTD. |
|
Financial Year End |
2012-11-30 |
2011-11-30 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
|
|
|
|
TURNOVER |
7,566,453 |
6,656,740 |
|
Other Income |
10,504 |
201,261 |
|
|
---------------- |
---------------- |
|
Total Turnover |
7,576,957 |
6,858,001 |
|
Costs of Goods Sold |
(7,127,420) |
(6,685,760) |
|
|
---------------- |
---------------- |
|
Gross Profit |
449,537 |
172,241 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(45,782) |
(344,738) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(45,782) |
(344,738) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(45,782) |
(344,738) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
(314,549) |
30,189 |
|
|
---------------- |
---------------- |
|
As restated |
(314,549) |
30,189 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(360,331) |
(314,549) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(360,331) |
(314,549) |
|
|
============= |
============= |
|
|
|
|
|
Lease interest |
1,733 |
- |
|
|
---------------- |
---------------- |
|
|
1,733 |
- |
|
|
============= |
|
|
S.A. INTERIOR FABRICS PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
1,571,501 |
1,547,189 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
1,571,501 |
1,547,189 |
|
|
|
|
|
Stocks |
156,645 |
1,246,400 |
|
Trade debtors |
297,741 |
290,973 |
|
Other debtors, deposits & prepayments |
17,610 |
1,908 |
|
Amount due from related companies |
1,114,502 |
4,836,714 |
|
Cash & bank balances |
143,301 |
127,370 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
1,729,799 |
6,503,365 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
3,301,300 |
8,050,554 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
1,070,807 |
6,640,848 |
|
Other creditors & accruals |
35,080 |
26,353 |
|
Hire purchase & lease creditors |
9,325 |
- |
|
Amounts owing to related companies |
1,484,049 |
6,833 |
|
Amounts owing to director |
935,922 |
1,591,069 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
3,535,183 |
8,265,103 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(1,805,384) |
(1,761,738) |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
(233,883) |
(214,549) |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
100,000 |
100,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
100,000 |
100,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
(360,331) |
(314,549) |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
(360,331) |
(314,549) |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
(260,331) |
(214,549) |
|
|
|
|
|
Lease obligations |
26,448 |
- |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
26,448 |
- |
|
|
---------------- |
---------------- |
|
|
(233,883) |
(214,549) |
|
|
============= |
============= |
|
|
|
|
|
S.A. INTERIOR FABRICS PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
143,301 |
127,370 |
|
Net Liquid Funds |
143,301 |
127,370 |
|
Net Liquid Assets |
(1,962,029) |
(3,008,138) |
|
Net Current Assets/(Liabilities) |
(1,805,384) |
(1,761,738) |
|
Net Tangible Assets |
(233,883) |
(214,549) |
|
Net Monetary Assets |
(1,988,477) |
(3,008,138) |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
35,773 |
0 |
|
Total Liabilities |
3,561,631 |
8,265,103 |
|
Total Assets |
3,301,300 |
8,050,554 |
|
Net Assets |
(233,883) |
(214,549) |
|
Net Assets Backing |
(260,331) |
(214,549) |
|
Shareholders' Funds |
(260,331) |
(214,549) |
|
Total Share Capital |
100,000 |
100,000 |
|
Total Reserves |
(360,331) |
(314,549) |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.04 |
0.02 |
|
Liquid Ratio |
0.44 |
0.64 |
|
Current Ratio |
0.49 |
0.79 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
8 |
68 |
|
Debtors Ratio |
14 |
16 |
|
Creditors Ratio |
55 |
363 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
(0.14) |
0.00 |
|
Liabilities Ratio |
(13.68) |
(38.52) |
|
Times Interest Earned Ratio |
(25.42) |
0.00 |
|
Assets Backing Ratio |
(2.34) |
(2.15) |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
(0.61) |
(5.18) |
|
Net Profit Margin |
(0.61) |
(5.18) |
|
Return On Net Assets |
18.83 |
160.68 |
|
Return On Capital Employed |
19.62 |
160.68 |
|
Return On Shareholders' Funds/Equity |
17.59 |
160.68 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.26 |
|
UK Pound |
1 |
Rs.97.51 |
|
Euro |
1 |
Rs.77.94 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SDA |
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.