MIRA INFORM REPORT
|
Report Date : |
16.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
KH NEOCHEM |
|
|
|
|
Formerly Known As : |
KYOWA HAKKO INDUSTRY (S) PTE LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
26.10.1983 |
|
|
|
|
Com. Reg. No.: |
198305080-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Medicinal and Pharmaceutical Products |
|
|
|
|
No. of Employees : |
6 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Singapore |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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. |
: |
198305080-M |
|
COMPANY NAME |
: |
KH NEOCHEM
SINGAPORE PTE. LTD. |
|
FORMER NAME |
: |
KYOWA HAKKO INDUSTRY (S) PTE LTD
(31/03/2012) |
|
INCORPORATION DATE |
: |
26/10/1983 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
260 ORCHARD ROAD, 12- 04 THE HEEREN,
238855, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
260 ORCHARD ROAD THE HEEREN #12-04,
238855, SINGAPORE. |
|
TEL.NO. |
: |
65-67334948 |
|
FAX.NO. |
: |
65-67330819 |
|
EMAIL |
: |
ENQUIRY@KHNEOCHEM.SG |
|
WEB SITE |
: |
WWW.KHNEOCHEM.SG |
|
CONTACT PERSON |
: |
MARUSHIGE NORIAKI ( DIRECTOR ) |
|
|
|
|
|
|
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|
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF MEDICINAL AND PHARMACEUTICAL
PRODUCTS |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
382,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 382,000.00 |
|
|
|
|
|
SALES |
: |
USD 30,438,903 [2013] |
|
NET WORTH |
: |
USD 3,097,628 [2013] |
|
|
|
|
|
STAFF STRENGTH |
: |
6 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
STRONG |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
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
medicinal and pharmaceutical products.
The immediate holding company of the Subject is KH NEOCHEM CO., LTD., a
company incorporated in JAPAN.
The ultimate holding company of the Subject is JAPN INDUSTRIAL PATNERS,
INC., a company incorporated in JAPAN.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
03/07/2014 |
SGD 382,000.00 |
The major shareholder(s) of the Subject are shown
as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
KH NEOCHEM CO., LTD. |
3-2-15 NIHONBASHI-MUROMACHI, CHUOKU,
JAPAN. |
T07UF2170 |
382,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
382,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject |
: |
KIYOYUKI OGURA |
|
Address |
: |
260 ORCHARD ROAD 12-04, THE HEEREN,
238855, SINGAPORE. |
|
IC / PP No |
: |
G3049784N |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/07/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
MARUSHIGE NORIAKI |
|
Address |
: |
260 ORCHARD ROAD 12-04, THE HEEREN,
238855, SINGAPORE. |
|
IC / PP No |
: |
G6342354N |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/03/2010 |
MANAGEMENT
|
1) |
Name of Subject |
: |
MARUSHIGE NORIAKI |
|
|
Position |
: |
DIRECTOR |
AUDITOR
|
Auditor |
: |
SAW MENG TEE & PARTNERS PAC |
|
Auditor' Address |
: |
N/A |
|
|
|
|
COMPANY SECRETARIES
|
1) |
Company Secretary |
: |
CHAN YONG LUAN |
|
|
IC / PP No |
: |
S1557278G |
|
|
|
|
|
|
|
Address |
: |
633, ANG MO KIO AVENUE 6, 12-5151, 560633,
SINGAPORE. |
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BANKING
No Banker found in our databank.
ENCUMBRANCE (S)
No encumbrance was found in our databank at the time of investigation.
LEGAL 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 |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
X |
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
|
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
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|
|
|
CLIENTELE
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
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Overseas |
: |
YES |
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Export Market |
: |
ASIA |
|||
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Credit Term |
: |
N/A |
|||
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Payment Mode |
: |
CHEQUES |
|||
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OPERATIONS
|
Goods Traded |
: |
MEDICINAL AND PHARMACEUTICAL PRODUCTS
|
|
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|
|
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|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
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|
|||||||||
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GROUP |
N/A |
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COMPANY |
6 |
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|
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Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of medicinal
and pharmaceutical products.
The Subject refused to disclose its operation.
CURRENT INVESTIGATION
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-67334948 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided by Client |
: |
260 ORCHARD ROAD THE HEEREN 12-04,238855
SINGAPORE |
|
Current Address |
: |
260 ORCHARD ROAD THE HEEREN #12-04,
238855, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL ANALYSIS
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
9.41% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
1.03% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.63% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
8.15% |
] |
|
|
|
|
|
|
|
|
|
|
The lower turnover could be due to the
unfavourable market conditions.The Subject's management have been efficient
in controlling its operating costs. The unfavourable return on shareholders'
funds could indicate that the Subject was inefficient in utilising its assets
to generate returns. |
||||||
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Working Capital
Control |
|
|
|
|
|
|
|
Stock Ratio |
: |
Favourable |
[ |
2 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
68 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
3 Days |
] |
|
|
|
|
|
|
|
|
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|
The Subject's stocks were moving fast thus
reducing its holding cost. This had reduced funds being tied up in stocks. The
high debtors' ratio could indicate that the Subject was weak in its credit
control. However, the Subject could also giving longer credit periods to its
customers in order to boost its sales or to capture / retain its market
share. 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. |
||||||
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Liquidity |
|
|
|
|
|
|
|
Liquid Ratio |
: |
Favourable |
[ |
1.44 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.47 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. |
||||||
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Solvency |
|
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|
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|
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. |
||||||
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|
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|
Overall
Assessment : |
|
|
|
|
|
|
|
Due to the efficient control of its
operating costs, the Subject was able to remain profitable despite lower turnover
achieved during the year. 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 |
||||||
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) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
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
|
Incorporated in
1983, the Subject is a Private Limited company, focusing on wholesale of
medicinal and pharmaceutical products. The Subject has been in business for over
3 decades. 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. Having strong
support from its holding company has enabled the Subject to remain
competitive despite the challenging business environment. |
|
|
PROFIT AND LOSS ACCOUNT
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
KH NEOCHEM
SINGAPORE PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
|
|
|
|
TURNOVER |
30,438,903 |
33,601,090 |
|
|
---------------- |
---------------- |
|
Total Turnover |
30,438,903 |
33,601,090 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
252,412 |
249,829 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
252,412 |
249,829 |
|
Taxation |
(16,000) |
(27,665) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
236,412 |
222,164 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS)
BROUGHT FORWARD |
|
|
|
As previously reported |
2,784,942 |
8,962,778 |
|
|
---------------- |
---------------- |
|
As restated |
2,784,942 |
8,962,778 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,021,354 |
9,184,942 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(222,164) |
(6,400,000) |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,799,190 |
2,784,942 |
|
|
============= |
============= |
|
|
|
|
BALANCE SHEET
|
KH NEOCHEM
SINGAPORE PTE. LTD. |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
14,360 |
11,900 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
14,360 |
11,900 |
|
|
|
|
|
Stocks |
191,051 |
162,854 |
|
Trade debtors |
5,651,931 |
5,861,395 |
|
Other debtors, deposits & prepayments |
55,508 |
57,165 |
|
Amount due from holding company |
- |
36,349 |
|
Cash & bank balances |
3,734,083 |
938,438 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
9,632,573 |
7,056,201 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
9,646,933 |
7,068,101 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
Trade creditors |
264,887 |
158,748 |
|
Other creditors & accruals |
4,486 |
4,201 |
|
Amounts owing to holding company |
6,252,036 |
3,614,316 |
|
Amounts owing to related companies |
- |
187,456 |
|
Provision for taxation |
27,896 |
20,000 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
6,549,305 |
3,984,721 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
3,083,268 |
3,071,480 |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
3,097,628 |
3,083,380 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
298,438 |
298,438 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
298,438 |
298,438 |
|
|
|
|
|
Retained profit/(loss) carried forward |
2,799,190 |
2,784,942 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
2,799,190 |
2,784,942 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
3,097,628 |
3,083,380 |
|
|
|
|
|
|
---------------- |
---------------- |
|
|
3,097,628 |
3,083,380 |
|
|
============= |
============= |
|
|
|
|
FINANCIAL RATIO
|
KH NEOCHEM
SINGAPORE PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
Cash |
3,734,083 |
938,438 |
|
Net Liquid Funds |
3,734,083 |
938,438 |
|
Net Liquid Assets |
2,892,217 |
2,908,626 |
|
Net Current Assets/(Liabilities) |
3,083,268 |
3,071,480 |
|
Net Tangible Assets |
3,097,628 |
3,083,380 |
|
Net Monetary Assets |
2,892,217 |
2,908,626 |
|
BALANCE SHEET
ITEMS |
|
|
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
6,549,305 |
3,984,721 |
|
Total Assets |
9,646,933 |
7,068,101 |
|
Net Assets |
3,097,628 |
3,083,380 |
|
Net Assets Backing |
3,097,628 |
3,083,380 |
|
Shareholders' Funds |
3,097,628 |
3,083,380 |
|
Total Share Capital |
298,438 |
298,438 |
|
Total Reserves |
2,799,190 |
2,784,942 |
|
LIQUIDITY
(Times) |
|
|
|
Cash Ratio |
0.57 |
0.24 |
|
Liquid Ratio |
1.44 |
1.73 |
|
Current Ratio |
1.47 |
1.77 |
|
WORKING CAPITAL
CONTROL (Days) |
|
|
|
Stock Ratio |
2 |
2 |
|
Debtors Ratio |
68 |
64 |
|
Creditors Ratio |
3 |
2 |
|
SOLVENCY RATIOS
(Times) |
|
|
|
Gearing Ratio |
0.00 |
0.00 |
|
Liabilities Ratio |
2.11 |
1.29 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
10.38 |
10.33 |
|
PERFORMANCE
RATIO (%) |
|
|
|
Operating Profit Margin |
0.83 |
0.74 |
|
Net Profit Margin |
0.78 |
0.66 |
|
Return On Net Assets |
8.15 |
8.10 |
|
Return On Capital Employed |
8.15 |
8.10 |
|
Return On Shareholders' Funds/Equity |
7.63 |
7.21 |
|
Dividend Pay Out Ratio (Times) |
0.94 |
28.81 |
|
NOTES TO
ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
|
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.79.03 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NIT |
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.