|
|
REGISTRATION
NO.
|
:
|
200804167-Z
|
|
COMPANY NAME
|
:
|
BRB SINGAPORE
PTE. LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION
DATE
|
:
|
03/03/2008
|
|
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE
LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS
|
:
|
1, KAKI BUKIT
ROAD 1, 03-18, ENTERPRISE ONE, 415934, SINGAPORE.
|
|
BUSINESS
ADDRESS
|
:
|
1 KAKI BUKIT
ROAD 1 #03- 18 ENTERPRISE ONE,, 415934, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-67426531
|
|
FAX.NO.
|
:
|
65-67427531
|
|
CONTACT PERSON
|
:
|
THEODORUS
JOSEPH CARIS ( DIRECTOR )
|
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY
|
:
|
TRADING OF
CHEMICALS, INVESTMENT HOLDING COMPANIES
|
|
|
|
|
|
ISSUED AND
PAID UP CAPITAL
|
:
|
1,000,003.00 ORDINARY
SHARE, OF A VALUE OF SGD 1,000,003.00
|
|
|
|
|
|
SALES
|
:
|
USD 62,246,448
[2013]
|
|
NET WORTH
|
:
|
USD 4,651,340
[2013]
|
|
|
|
|
|
STAFF STRENGTH
|
:
|
10 [2014]
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL
CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
AVERAGE
|
|
MANAGEMENT
CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
|
COMMERCIAL
RISK
|
:
|
MODERATE
|
|
CURRENCY
EXPOSURE
|
:
|
MODERATE
|
|
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 chemicals, investment holding companies.
Share Capital History
|
Date
|
Issue &
Paid Up Capital
|
|
17/09/2014
|
SGD
1,000,003.00
|
The major shareholder(s)
of the Subject are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
BRB
INTERNATIONAL B.V.
|
BRANSKAMP 12,
6014CB ITTERVOORT, NETHERLANDS.
|
T08UF2021
|
1,000,003.00
|
100.00
|
|
|
|
|
---------------
|
------
|
|
|
|
|
1,000,003.00
|
100.00
|
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTOR 1
|
Name Of
Subject
|
:
|
THEODORUS
JOSEPH CARIS
|
|
Address
|
:
|
VELDBLOEMSTRAAT
5, 6002 CG WEERT, THE NETHERLANDS, NETHERLANDS.
|
|
IC / PP No
|
:
|
NP6K6C3D2
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
DUTCH
|
|
Date of
Appointment
|
:
|
14/12/2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of
Subject
|
:
|
BASTIAAN
WILLEM BOLLEN
|
|
Address
|
:
|
19, CHEMPAKA
KUNING LINK, THE SPRINGFIELD, 486254, SINGAPORE.
|
|
IC / PP No
|
:
|
S7587298D
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
DUTCH
|
|
Date of
Appointment
|
:
|
07/07/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1)
|
Name of
Subject
|
:
|
THEODORUS
JOSEPH CARIS
|
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
|
|
Auditor
|
:
|
RSM CHIO LIM
LLP
|
|
Auditor'
Address
|
:
|
N/A
|
|
|
|
|
|
|
|
|
|
1)
|
Company
Secretary
|
:
|
LOW SOR CHENG
|
|
|
IC / PP No
|
:
|
S1156434H
|
|
|
|
|
|
|
|
Address
|
:
|
344, HOUGANG,
AVENUE 3, 01-541, HOUGANG N3 (HUDG), 530344, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
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.
|
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
|
:
|
WORLDWIDE
|
|
Credit Term
|
:
|
N/A
|
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded
|
:
|
CHEMICALS
|
|
|
|
|
|
Services
|
:
|
INVESTMENT
HOLDING COMPANIES
|
|
|
|
|
|
Total Number
of Employees:
|
|
YEAR
|
2014
|
|
|
GROUP
|
N/A
|
|
|
|
|
|
|
|
|
|
COMPANY
|
10
|
|
|
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of
chemicals, investment holding companies.
The Subject's main products are inlcuding Silicone Fluid,Silicone Antifoam,Silicone
Emulsion,Silane,Silicone Resins and others.
Latest fresh investigations carried out on the Subject indicated that
:
|
Telephone
Number Provided By Client
|
:
|
(65)67426532
|
|
Current
Telephone Number
|
:
|
65-67426531
|
|
Match
|
:
|
NO
|
|
|
|
|
|
Address
Provided by Client
|
:
|
1 KAKI BUKIT
ROAD 1 #03-18 ENTERPRISE ONE SINGAPORE 415934
|
|
Current
Address
|
:
|
1 KAKI BUKIT
ROAD 1 #03- 18 ENTERPRISE ONE,, 415934, SINGAPORE.
|
|
Match
|
:
|
YES
|
|
|
|
|
Other
Investigations
On 18th September 2014 we contacted one of the staff from the Subject and she
provided some information.
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Erratic
|
[
|
2011 - 2013
|
]
|
|
|
Profit/(Loss)
Before Tax
|
:
|
Decreased
|
[
|
2011 - 2013
|
]
|
|
|
Return on
Shareholder Funds
|
:
|
Acceptable
|
[
|
20.54%
|
]
|
|
|
Return on Net
Assets
|
:
|
Acceptable
|
[
|
28.44%
|
]
|
|
|
|
|
|
|
|
|
|
|
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 Subject's management had
generated acceptable return for its shareholders using its assets.
|
|
|
|
|
|
|
|
|
|
Working
Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Favourable
|
[
|
34 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Favourable
|
[
|
35 Days
|
]
|
|
|
Creditors
Ratio
|
:
|
Favourable
|
[
|
26 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
|
[
|
0.70 Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
1.23 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
|
:
|
Acceptable
|
[
|
9.62 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.00 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 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
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. 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 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 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 : FAIR
|
|
|
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 2008, the Subject is a Private Limited company, focusing on
trading of chemicals, investment holding companies. 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. Having strong
support from its shareholder has enabled the Subject to remain competitive
despite the challenging business environment. The capital standing of the
Subject is fair. With an adequate share capital, the Subject has the
potential of expanding its business in future.
Over the years, the Subject has penetrated into both the local and overseas
market. The Subject has positioned itself in the global market and is
competing in the industry. Its stable clientele base will enable the
Subject to further enhance its business in the near term. Being a small
company, the Subject's business operation is supported by 10 employees.
Overall, we regard that the Subject's management capability is average.
This indicates that the Subject has greater potential to improve its
business performance and raising income for the Subject.
Financially, the Subject registered a higher turnover compared to previous
year. However, its profits showed a reverse trend. The lower profit
achieved was a result of higher operating cost and increased competition.
Return on shareholders' funds of the Subject was at an acceptable range
which indicated that the management was efficient in utilising its funds to
generate income. Due to its weak liquidity position, the Subject may face
working capital deficiency in meeting its short term financial obligations
if no fresh capital are injected into the Subject. 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 4,651,340, the Subject should be able to maintain
its business in the near terms.
Without a strong assets backing, the Subject may face difficulties in
getting loans for its future expansion and continued growth .
The Subject's payment habit is average. With its adequate working capital,
the Subject should be able to pay its short term debts.
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.
In view of the above, we recommend credit be granted to the Subject with
close monitoring.
|
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.
|
|
BRB SINGAPORE
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
|
SUMMARY
|
|
Currency
|
USD
|
USD
|
USD
|
|
|
|
|
|
|
TURNOVER
|
62,246,448
|
55,040,890
|
56,754,295
|
|
|
----------------
|
----------------
|
----------------
|
|
Total Turnover
|
62,246,448
|
55,040,890
|
56,754,295
|
|
|
----------------
|
----------------
|
----------------
|
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS
|
1,185,448
|
1,654,453
|
627,028
|
|
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
BEFORE TAXATION
|
1,185,448
|
1,654,453
|
627,028
|
|
Taxation
|
(230,000)
|
(229,999)
|
(99,211)
|
|
|
----------------
|
----------------
|
----------------
|
|
PROFIT/(LOSS)
AFTER TAXATION
|
955,448
|
1,424,454
|
527,817
|
|
|
----------------
|
----------------
|
----------------
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD
|
|
|
|
|
As previously
reported
|
2,872,264
|
1,447,810
|
919,993
|
|
|
----------------
|
----------------
|
----------------
|
|
As restated
|
2,872,264
|
1,447,810
|
919,993
|
|
|
----------------
|
----------------
|
----------------
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS
|
3,827,712
|
2,872,264
|
1,447,810
|
|
|
----------------
|
----------------
|
----------------
|
|
RETAINED PROFIT/(LOSS)
CARRIED FORWARD
|
3,827,712
|
2,872,264
|
1,447,810
|
|
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
INTEREST
EXPENSE (as per notes to P&L)
|
|
|
|
|
Others
|
137,516
|
129,153
|
-
|
|
|
----------------
|
----------------
|
----------------
|
|
|
137,516
|
129,153
|
-
|
|
|
=============
|
=============
|
|
|
|
|
|
|
|
ASSETS
EMPLOYED:
|
|
|
|
|
FIXED ASSETS
|
122,928
|
145,532
|
36,296
|
|
|
|
|
|
|
Investments
|
2,064,170
|
-
|
-
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG
TERM INVESTMENTS/OTHER ASSETS
|
2,064,170
|
-
|
-
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL LONG
TERM ASSETS
|
2,187,098
|
145,532
|
36,296
|
|
|
|
|
|
|
Stocks
|
5,752,376
|
5,275,592
|
-
|
|
Trade debtors
|
6,044,132
|
8,157,135
|
-
|
|
Other debtors,
deposits & prepayments
|
629,966
|
979,871
|
-
|
|
Cash &
bank balances
|
983,874
|
1,422,006
|
-
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT
ASSETS
|
13,410,348
|
15,834,604
|
12,039,733
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL ASSET
|
15,597,446
|
15,980,136
|
12,076,029
|
|
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
CURRENT
LIABILITIES
|
|
|
|
|
Trade
creditors
|
4,495,793
|
6,156,171
|
-
|
|
Other
creditors & accruals
|
6,173,487
|
6,839,035
|
-
|
|
Other
liabilities
|
276,826
|
112,665
|
-
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL CURRENT
LIABILITIES
|
10,946,106
|
13,107,871
|
10,628,218
|
|
|
----------------
|
----------------
|
----------------
|
|
NET CURRENT
ASSETS/(LIABILITIES)
|
2,464,242
|
2,726,733
|
1,411,515
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL NET
ASSETS
|
4,651,340
|
2,872,265
|
1,447,811
|
|
|
=============
|
=============
|
=============
|
|
|
|
|
|
|
SHARE CAPITAL
|
|
|
|
|
Ordinary share
capital
|
-
|
-
|
1,000,003
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL SHARE
CAPITAL
|
-
|
-
|
1,000,003
|
|
|
|
|
|
|
General
reserve
|
823,628
|
1
|
-
|
|
Retained
profit/(loss) carried forward
|
3,827,712
|
2,872,264
|
1,447,810
|
|
|
----------------
|
----------------
|
----------------
|
|
TOTAL RESERVES
|
4,651,340
|
2,872,265
|
1,447,810
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
|
SHAREHOLDERS'
FUNDS/EQUITY
|
4,651,340
|
2,872,265
|
2,447,813
|
|
|
|
|
|
|
|
----------------
|
----------------
|
----------------
|
|
|
4,651,340
|
2,872,265
|
1,447,811
|
|
|
=============
|
=============
|
|
|
|
|
|
|
|
TYPES OF FUNDS
|
|
|
|
|
Cash
|
983,874
|
1,422,006
|
-
|
|
Net Liquid
Funds
|
983,874
|
1,422,006
|
-
|
|
Net Liquid
Assets
|
(3,288,134)
|
(2,548,859)
|
1,411,515
|
|
Net Current
Assets/(Liabilities)
|
2,464,242
|
2,726,733
|
1,411,515
|
|
Net Tangible Assets
|
4,651,340
|
2,872,265
|
1,447,811
|
|
Net Monetary
Assets
|
(3,288,134)
|
(2,548,859)
|
1,411,515
|
|
BALANCE SHEET
ITEMS
|
|
|
|
|
Total
Borrowings
|
0
|
0
|
-
|
|
Total
Liabilities
|
10,946,106
|
13,107,871
|
10,628,218
|
|
Total Assets
|
15,597,446
|
15,980,136
|
12,076,029
|
|
Net Assets
|
4,651,340
|
2,872,265
|
1,447,811
|
|
Net Assets
Backing
|
4,651,340
|
2,872,265
|
1,447,811
|
|
Shareholders'
Funds
|
4,651,340
|
2,872,265
|
2,447,813
|
|
Total Share
Capital
|
0
|
0
|
1,000,003
|
|
Total Reserves
|
4,651,340
|
2,872,265
|
1,447,810
|
|
LIQUIDITY
(Times)
|
|
|
|
|
Cash Ratio
|
0.09
|
0.11
|
-
|
|
Liquid Ratio
|
0.70
|
0.81
|
-
|
|
Current Ratio
|
1.23
|
1.21
|
1.13
|
|
WORKING
CAPITAL CONTROL (Days)
|
|
|
|
|
Stock Ratio
|
34
|
35
|
-
|
|
Debtors Ratio
|
35
|
54
|
-
|
|
Creditors
Ratio
|
26
|
41
|
-
|
|
SOLVENCY
RATIOS (Times)
|
|
|
|
|
Gearing Ratio
|
0.00
|
0.00
|
-
|
|
Liabilities
Ratio
|
2.35
|
4.56
|
4.34
|
|
Times Interest
Earned Ratio
|
9.62
|
13.81
|
-
|
|
Assets Backing
Ratio
|
0.00
|
0.00
|
1.45
|
|
PERFORMANCE
RATIO (%)
|
|
|
|
|
Operating
Profit Margin
|
1.90
|
3.01
|
1.10
|
|
Net Profit
Margin
|
1.53
|
2.59
|
0.93
|
|
Return On Net
Assets
|
28.44
|
62.10
|
43.31
|
|
Return On
Capital Employed
|
28.44
|
62.10
|
25.62
|
|
Return On
Shareholders' Funds/Equity
|
20.54
|
49.59
|
21.56
|
|
Dividend Pay
Out Ratio (Times)
|
0.00
|
0.00
|
-
|
|
NOTES TO
ACCOUNTS
|
|
|
|
|
Contingent
Liabilities
|
0
|
0
|
|
|