|
Report No. : |
314719 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUNTSMAN (SINGAPORE) PTE LTD |
|
|
|
|
Registered Office : |
150, Beach Road, 37-00, Gateway West, 189720 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
29.06.2000 |
|
|
|
|
Com. Reg. No.: |
200005669-C |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacture of Chemical Products |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. |
: |
200005669-C |
|
COMPANY NAME |
: |
HUNTSMAN (SINGAPORE) PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
29/06/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
150, BEACH ROAD, 37-00, GATEWAY WEST, 189720, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
150, BEACH ROAD, 37-00, GATEWAY WEST, 189720, SINGAPORE. |
|
TEL.NO. |
: |
65-63900315 |
|
FAX.NO. |
: |
65-62963368 |
|
WEB SITE |
: |
WWW.HUNTSMAN.COM |
|
CONTACT PERSON |
: |
PANG AI CHEE ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF CHEMICAL PRODUCTS |
|
ISSUED AND PAID UP CAPITAL |
: |
12,630,230.00 ORDINARY SHARE, OF A VALUE OF SGD 12,630,230.00 |
|
SALES |
: |
USD 395,908,036 [2013] |
|
NET WORTH |
: |
USD 31,297,572 [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
NO COMPLAINTS |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MATURE |
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) manufacture of chemical products.
The immediate
holding company of the Subject is HUNTSMAN INVESTMENTS (NETHERLANDS) B.V., a
company incorporated in NETHERLANDS.
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
30/03/2015 |
SGD 12,630,230.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
HUNTSMAN INVESTMENTS (NETHERLANDS) B.V. |
MERSEYWEG, 10, 3197, KG BOTLEK, ROTTERDAM, NETHERLANDS. |
S95UF0726G |
12,630,230.00 |
100.00 |
|
--------------- |
------ |
|||
|
12,630,230.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
|
DIRECTOR 1
|
Name Of Subject |
: |
PANG AI CHEE |
|
Address |
: |
51, HILLVIEW AVENUE, 04-06, HILLINGTON GREEN, 669565, SINGAPORE. |
|
IC / PP No |
: |
S1346928H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
29/04/2002 |
DIRECTOR 2
|
Name Of Subject |
: |
PAUL GRAHAM HULME |
|
Address |
: |
138, GRANGE ROAD, 04-02, PARKVIEW ECLAT, 249617, SINGAPORE. |
|
IC / PP No |
: |
G6262999T |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
18/09/2009 |
DIRECTOR 3
|
Name Of Subject |
: |
ALBERT ARTHUR MARIO DECELIS |
|
Address |
: |
3, ANTHONY ROAD, ORCHARD SCOTTS, 229953, SINGAPORE. |
|
IC / PP No |
: |
G5371111T |
|
Nationality |
: |
AUSTRALIAN |
|
Date of Appointment |
: |
06/09/2013 |
DIRECTOR 4
|
Name Of Subject |
: |
RICHARD JUSTIN JAMES PHILLIPSON |
|
Address |
: |
2, VANDA AVENUE, ORCHID VILLAGE, 287941, SINGAPORE. |
|
IC / PP No |
: |
G6288375N |
|
Nationality |
: |
BRITISH |
|
Date of Appointment |
: |
06/09/2013 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
PANG AI CHEE |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
DELOITTE & TOUCHE LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
CHAN KOK CHYE |
|
IC / PP No |
: |
S0165806I |
|
|
Address |
: |
35, GOODMAN ROAD, 438998, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
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 |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
AS AGREED |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
1,000 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of
chemical products.
The Subject is a global manufacturer and marketer of differentiated chemicals.
Its Group manufactures products for a variety of global Industries, including
chemicals, plastics, automotive, aviation, textiles, footwear, paints and
coatings, construction, technology, agriculture, health care, detergent,
personal care, furniture, appliances and packaging.
RECENT
DEVELOPMENT
|
4th November 2014
Huntsman Inaugurates New India Subcontinent Headquarters in Mumbai.
CURRENT
INVESTIGATION
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63900315 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
150, BEACH ROAD, 37-00, GATEWAY WEST,189720, SINGAPORE |
|
Current Address |
: |
150, BEACH ROAD, 37-00, GATEWAY WEST, 189720, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 26th March 2015 we contacted one of the staff from the Subject and she
provided some information.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(0.26%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
2.96% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
management had succeeded in turning the Subject into a profit making company.
The profit could be due to better control of its operating costs and
efficiency in utilising its resources. 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 |
: |
Acceptable |
[ |
64 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
53 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
4 Days |
] |
|
|
The Subject kept adequate stocks to meet its normal business
transactions without incurring excessive storage costs. 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 |
[ |
0.64 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.15 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 |
[ |
1.04 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest
payment. 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 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. If there is a fall in the Subject's profit
or any increase in interest rate, the Subject may not be able to generate
sufficient cash-flow to service its interest. 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
ANALYSIS
|
|
|
INDUSTRY : |
MANUFACTURING |
|
In the third quarter of 2014, manufacturing output has increased by 1.9%,
extending the 1.5% growth in the previous quarter. Growth was largely driven
by the biomedical manufacturing and chemicals clusters. Besides, for the
whole 2013, the manufacturing sector grew by 1.7%, an uptick from the 0.3%
growth recorded in the previous year. All clusters recorded an expansion in
2013, except the biomedical manufacturing cluster. |
|
|
The chemicals cluster grew by 5.2% in the third quarter of 2014.
Growth was led by the petrochemicals and specialty chemicals segments, which
expanded by 8.9% and 7.1% respectively. By contrast, the petroleum segment
contracted by 4.2% in the third quarter of 2014 due to plant maintenance
shutdowns. For the year of 2013, the chemicals cluster grew only by 0.7%. |
|
|
Besides, output of the biomedical manufacturing cluster expanded by
9.0% in the third quarter of 2014. The medical technology segment posted
robust growth of 23% due to higher production of medical instruments and
supplies, while the output of the pharmaceuticals segment rose by 6.2%.
However, in the whole of 2013, the biomedical manufacturing cluster recorded
only a flat growth. |
|
|
In the third quarter of 2014, the transport engineering cluster
contracted by 2.0%, dragged down by the aerospace segment. Output in the
aerospace segment plunged by 18% on the back of fewer repair jobs from
commercial airlines. This was mitigated by the 4.1% growth in the marine
& offshore engineering segment, which was supported by higher
contributions from rig building projects. Nonetheless, for the whole of 2013,
the transport engineering cluster grew by 5.2%. |
|
|
Moreover, output of the precision engineering cluster increased by
1.3% in the third quarter of 2014. The machinery & systems segment grew by
6.2%, supported by higher demand for semiconductor-related equipment and
mechanical engineering work. This was partly offset by the decline in the
output of the precision modules & components segment. Conversely, in the
full year of 2013, the precision engineering cluster's output declined by
5.6%. |
|
|
Furthermore, in the third quarter of 2014, output of the general
manufacturing industries declined by 3.0%. The 2.1% growth in the food,
beverages & tobacco segment was more than offset by declines in the other
two segments. In particular, the miscellaneous industries segment contracted
by 4.7% on the back of lower output in construction-related products, such as
concrete & cement products and steel structural components. For the full
year of 2013, the general manufacturing cluster grew by 2.8%. |
|
|
Besides, in the third quarter of 2014, the electronics cluster
expanded by 0.9%, reversing the 5.0% contraction in the previous quarter.
Growth was supported by an expansion in the computer peripherals (6.3%) and
data storage (2.6%) segments. Moreover, for the year 2013, the electronics
cluster expanded by 3.5%. |
|
|
OVERALL INDUSTRY OUTLOOK : MATURE |
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
HUNTSMAN
(SINGAPORE) 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 |
SUMMARY |
|
Currency |
USD |
USD |
USD |
USD |
SGD |
|
TURNOVER |
395,908,036 |
340,098,424 |
339,605,269 |
357,345,299 |
314,281,361 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
395,908,036 |
340,098,424 |
339,605,269 |
357,345,299 |
314,281,361 |
|
Costs of Goods Sold |
(341,562,332) |
(294,085,315) |
(291,237,011) |
(310,447,026) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
54,345,704 |
46,013,109 |
48,368,258 |
46,898,273 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
58,947 |
(3,495,281) |
2,665,020 |
17,140,917 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
58,947 |
(3,495,281) |
2,665,020 |
17,140,917 |
- |
|
Taxation |
(140,000) |
688,881 |
(454,383) |
322,676 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(81,053) |
(2,806,400) |
2,210,637 |
17,463,593 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
23,470,039 |
26,276,439 |
24,065,802 |
6,602,209 |
5,733,181 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
23,470,039 |
26,276,439 |
24,065,802 |
6,602,209 |
5,733,181 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
5,733,181 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
5,733,181 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
1,586,908 |
1,283,947 |
1,236,698 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,586,908 |
1,283,947 |
1,236,698 |
- |
- |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
HUNTSMAN
(SINGAPORE) PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
35,161,115 |
36,848,089 |
38,405,953 |
35,444,073 |
45,937,727 |
|
Deferred assets |
80,291 |
220,291 |
- |
949,000 |
- |
|
Others |
159,239 |
159,239 |
159,239 |
159,239 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
239,530 |
379,530 |
159,239 |
1,108,239 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
35,400,645 |
37,227,619 |
38,565,192 |
36,552,312 |
45,937,727 |
|
Stocks |
69,020,506 |
57,454,922 |
63,429,576 |
60,497,327 |
- |
|
Trade debtors |
57,273,351 |
48,058,355 |
42,254,035 |
51,374,138 |
- |
|
Other debtors, deposits & prepayments |
1,151,494 |
1,229,757 |
1,344,282 |
1,572,040 |
- |
|
Amount due from related companies |
27,560,381 |
22,476,200 |
15,165,572 |
23,511,740 |
- |
|
Cash & bank balances |
688,728 |
1,614,494 |
1,747,655 |
1,118,261 |
- |
|
Others |
324,557 |
331,286 |
461,667 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
156,019,017 |
131,165,014 |
124,402,787 |
138,073,506 |
126,788,753 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
191,419,662 |
168,392,633 |
162,967,979 |
174,625,818 |
172,726,480 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,743,686 |
1,423,568 |
89,585,845 |
104,962,599 |
- |
|
Other creditors & accruals |
15,887,035 |
15,481,786 |
10,906,461 |
10,128,783 |
- |
|
Amounts owing to related companies |
116,190,480 |
95,580,840 |
4,173,728 |
2,872,298 |
- |
|
Provision for taxation |
- |
- |
- |
574,739 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
135,821,201 |
112,486,194 |
104,666,034 |
118,538,419 |
124,460,616 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
20,197,816 |
18,678,820 |
19,736,753 |
19,535,087 |
2,328,137 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
55,598,461 |
55,906,439 |
58,301,945 |
56,087,399 |
48,265,864 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
12,630,230 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
12,630,230 |
|
Retained profit/(loss) carried forward |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
5,733,181 |
|
Others |
- |
- |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
5,733,181 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
31,297,572 |
31,378,625 |
34,185,025 |
31,974,388 |
18,363,411 |
|
Retirement benefits provision |
32,723 |
59,970 |
30,643 |
22,861 |
- |
|
Others |
24,268,166 |
24,467,844 |
24,086,277 |
24,090,150 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
24,300,889 |
24,527,814 |
24,116,920 |
24,113,011 |
29,902,453 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
55,598,461 |
55,906,439 |
58,301,945 |
56,087,399 |
48,265,864 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
HUNTSMAN (SINGAPORE)
PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
688,728 |
1,614,494 |
1,747,655 |
1,118,261 |
- |
|
Net Liquid Funds |
688,728 |
1,614,494 |
1,747,655 |
1,118,261 |
- |
|
Net Liquid Assets |
(48,822,690) |
(38,776,102) |
(43,692,823) |
(40,962,240) |
2,328,137 |
|
Net Current Assets/(Liabilities) |
20,197,816 |
18,678,820 |
19,736,753 |
19,535,087 |
2,328,137 |
|
Net Tangible Assets |
55,598,461 |
55,906,439 |
58,301,945 |
56,087,399 |
48,265,864 |
|
Net Monetary Assets |
(73,123,579) |
(63,303,916) |
(67,809,743) |
(65,075,251) |
(27,574,316) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
- |
|
Total Liabilities |
160,122,090 |
137,014,008 |
128,782,954 |
142,651,430 |
154,363,069 |
|
Total Assets |
191,419,662 |
168,392,633 |
162,967,979 |
174,625,818 |
172,726,480 |
|
Net Assets |
55,598,461 |
55,906,439 |
58,301,945 |
56,087,399 |
48,265,864 |
|
Net Assets Backing |
31,297,572 |
31,378,625 |
34,185,025 |
31,974,388 |
18,363,411 |
|
Shareholders' Funds |
31,297,572 |
31,378,625 |
34,185,025 |
31,974,388 |
18,363,411 |
|
Total Share Capital |
7,908,586 |
7,908,586 |
7,908,586 |
7,908,586 |
12,630,230 |
|
Total Reserves |
23,388,986 |
23,470,039 |
26,276,439 |
24,065,802 |
5,733,181 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.01 |
0.01 |
0.02 |
0.01 |
- |
|
Liquid Ratio |
0.64 |
0.66 |
0.58 |
0.65 |
- |
|
Current Ratio |
1.15 |
1.17 |
1.19 |
1.16 |
1.02 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
64 |
62 |
68 |
62 |
- |
|
Debtors Ratio |
53 |
52 |
45 |
52 |
- |
|
Creditors Ratio |
4 |
2 |
112 |
123 |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
- |
|
Liabilities Ratio |
5.12 |
4.37 |
3.77 |
4.46 |
8.41 |
|
Times Interest Earned Ratio |
1.04 |
(1.72) |
3.15 |
0.00 |
- |
|
Assets Backing Ratio |
7.03 |
7.07 |
7.37 |
7.09 |
3.82 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.01 |
(1.03) |
0.78 |
4.80 |
- |
|
Net Profit Margin |
(0.02) |
(0.83) |
0.65 |
4.89 |
- |
|
Return On Net Assets |
2.96 |
(3.96) |
6.69 |
30.56 |
- |
|
Return On Capital Employed |
2.96 |
(3.96) |
6.69 |
30.56 |
- |
|
Return On Shareholders' Funds/Equity |
(0.26) |
(8.94) |
6.47 |
54.62 |
- |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.59 |
|
|
1 |
Rs.92.46 |
|
Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.