|
Report No. : |
314669 |
|
Report Date : |
01.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
TRANSASIA PACIFIC GGNR PTE. LTD. |
|
|
|
|
Formerly Known As : |
GUPTA GLOBAL NATURAL RESOURCES PTE. LTD. (04/08/2010) |
|
|
|
|
Registered Office : |
10, Anson Road, 22-11, International Plaza, 079903 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
11.08.2009 |
|
|
|
|
Com. Reg. No.: |
200914643-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Investment Holding Companies, Trading Of Coal |
|
|
|
|
No of Employees : |
7 [2015] |
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 – 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 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. |
: |
200914643-E |
||||
|
COMPANY NAME |
: |
TRANSASIA
PACIFIC GGNR PTE. LTD. |
||||
|
FORMER NAME |
: |
GUPTA GLOBAL NATURAL RESOURCES PTE. LTD.
(04/08/2010) |
||||
|
INCORPORATION DATE |
: |
11/08/2009 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
10, ANSON ROAD, 22-11, INTERNATIONAL
PLAZA, 079903, SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
10, ANSON ROAD, 22-11, INTERNATIONAL
PLAZA, 079903, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-64231411 |
||||
|
FAX.NO. |
: |
65-64231141 |
||||
|
CONTACT PERSON |
: |
ANURAG GUPTA ( MANAGING DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
INVESTMENT HOLDING COMPANIES, TRADING OF
COAL |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
21,265,437.00 ORDINARY SHARE, OF A VALUE
OF SGD 21,265,437.00 |
||||
|
SALES |
: |
USD 299,147,797 [2014] |
||||
|
NET WORTH |
: |
USD 32,940,618 [2014] |
||||
|
STAFF STRENGTH |
: |
7 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) investment holding companies, trading of coal.
Share Capital History
|
Date |
Issue & Paid
Up Capital |
|
30/03/2015 |
SGD 21,265,437.00 |
The major shareholder(s) of the Subject are
shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
GUPTA COAL INDIA PRIVATE LIMITED |
SHRIRAM TOWERS, S. V. PATEL MARG, KINGSWAY,
NAGPUR-440 001, 7TH FLOOR, INDIA. |
T09UF2895 |
21,265,437.00 |
100.00 |
|
--------------- |
------ |
|||
|
21,265,437.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
HONG KONG |
RAWMAT RESOURCES LTD |
100.00 |
31/12/2014 |
|
|
INDONESIA |
PT NANDI UTAMA JAYA |
99.33 |
31/12/2014 |
|
DIRECTORS
|
DIRECTOR
1
|
Name Of Subject |
: |
AGARWALLA VIKASH |
|
Address |
: |
7, SIGLAP ROAD, 15-68, MANDARIN GARDENS,
448909, SINGAPORE. |
|
IC / PP No |
: |
G5058232P |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
12/05/2011 |
DIRECTOR 2
|
Name Of Subject |
: |
ANURAG GUPTA |
|
Address |
: |
HOUSE 190, HARI NIKUNJ, MUSEUM ROAD, CIVIL
LINES NAGPUR-440 001, INDIA. |
|
IC / PP No |
: |
G8136561 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
15/05/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
PADMESH DEODUTTA GUPTA |
|
Address |
: |
HOUSE 190, HARI NIKUNJ, MUSEUM ROAD, CIVIL
LINES, NAGPUR-440 001, INDIA. |
|
IC / PP No |
: |
G6766646 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
11/08/2009 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
ANURAG GUPTA |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
NATARAJAN & SWAMINATHAN |
|
Auditor' Address |
: |
N/A |
|
Auditor |
: |
NATARAJAN & SWAMINATHAN |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
MS. LOH MEI LING |
|
IC / PP No |
: |
S7379111A |
|
|
Address |
: |
100, BEACH ROAD, 30-00, SHAW TOWERS, 189702, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
BARCLAYS BANK PLC |
|
2) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION
LIMITED |
|
3) |
Name |
: |
BNP PARIBAS |
|
4) |
Name |
: |
SOCIETE GENERALE |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge
Description |
Chargee Name |
Total Charge |
Status |
|
C201201140 |
31/01/2012 |
N/A |
ICICI BANK LIMITED |
- |
Unsatisfied |
|
C201201143 |
31/01/2012 |
N/A |
ICICI BANK LIMITED |
- |
Unsatisfied |
|
C201206489 |
14/06/2012 |
N/A |
BARCLAYS BANK PLC |
- |
Unsatisfied |
|
C201209493 |
22/08/2012 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201210125 |
05/09/2012 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION
LIMITED |
- |
Unsatisfied |
|
C201210857 |
24/09/2012 |
N/A |
DBS BANK LTD. |
- |
Unsatisfied |
|
C201306765 |
17/05/2013 |
N/A |
BNP PARIBAS |
- |
Unsatisfied |
|
C201313624 |
07/10/2013 |
N/A |
SOCIETE GENERALE |
- |
Unsatisfied |
|
C201313625 |
07/10/2013 |
N/A |
SOCIETE GENERALE |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank against 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 |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
COAL |
|
|
Services |
: |
INVESTMENT HOLDING COMPANIES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
7 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) investment holding
companies, trading of coal.
The staff from the registered office refused to disclose the Subject's
operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-64231411 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
22-11 INTERNATIONAL PLAZA ,SINGAPORE-079903
SINGAPORE |
|
Current Address |
: |
10, ANSON ROAD, 22-11, INTERNATIONAL
PLAZA, 079903, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject's registered office and he only provided
limited information.
The address provided is incomplete.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
12.89% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
75.68% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.22% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
7.92% |
] |
|
|
The higher turnover could be attributed to the favourable market condition
and the Subject could be gaining the market share progressively. The
Subject's profit fell sharply because of the high operating costs incurred.
The unfavourable return on shareholders' funds could indicate that the
Subject was inefficient in utilising its assets to generate returns. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
95 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
29 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The Subject's debtors ratio
was high. The Subject should tighten its credit control and improve its collection
period. The Subject had a favourable creditors' ratio where the Subject could
be taking advantage of the cash discounts and also wanting to maintain
goodwill with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.73 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.73 Times |
] |
|
|
A minimum liquid ratio of 1 should be maintained by the Subject in
order to assure its creditors of its ability to meet short term obligations and
the Subject was in a good liquidity position. Thus, we believe the Subject is
able to meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
3.15 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.07 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 was highly geared, thus it had a high financial risk. The
Subject was dependent on loans to finance its business needs. In times of
economic downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and to
repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay. |
||||||
|
Overall
Assessment : |
||||||
|
Although the Subject's turnover had increased, its profits had declined
over the same corresponding period. This could be due to the stiffer market
competition and / or higher operating costs which lowered the Subject's
profit margin. 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 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's gearing level was high and its going concern
will be in doubt if there is no injection of additional shareholders' funds
in times of economic downturn and / or high interest rates. |
||||||
|
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
ANALYSIS
|
|
INDUSTRY : |
ECONOMY |
|
The Ministry of Trade and Industry (MTI) announced that it expects the
Singapore economy to grow by around 3.0% in 2014, and by 2.0 to 4.0% in 2015.
Besides that in 2013, the economy grew by 4.1%, higher than the 1.9% growth
in 2012. This was mainly due to strong growth in the services producing
industries, particularly the finance & insurance, as well as wholesale
& retail trade sectors. |
|
|
In 2013, all sectors contributed positively to growth. Finance &
insurance was the largest contributor (1.2 percentage-points), followed by
wholesale & retail trade (0.8 percentage-points) and business services
(0.6 percentage-points). Growth in the manufacturing sector was improved by
1.7%, on the back of strong growth in the electronics and transport
engineering clusters. By contrast, growth in the construction sector
moderated to 5.9%, from 8.6% in 2012. |
|
|
Growth in the services producing industries picked up to 5.3% in 2013,
from 2.0% in 2012. This was mainly due to stronger growth in the finance
& insurance and wholesale & retail trade sectors. The finance &
insurance sector grew by 11%, up from 1.3% in the previous year. The
wholesale & retail trade sector has expanded by 5.0%, after declining by
1.4% the year before. |
|
|
For the whole of 2013, growth in total demand was 3.1%, similar to the
pace of growth in 2012. External demand was the key contributor to total
demand growth, accounting for 2.7 percentage-points, or almost 90%, of the
increase. External demand grew at a faster pace of 3.6%, compared to the 1.4%
growth in 2012. This was supported mainly by growth in the exports of
machinery & transport equipment, miscellaneous manufactures, and
transport services. Total domestic demand rose by a modest 1.7%, following
the 8.6% increase in 2012. The slower growth in total domestic demand was
primarily due to the decline in gross fixed capital formation (GFCF). |
|
|
For the full year, total consumption expenditure grew by 4.4% in 2013,
faster than the 2.8% growth in 2012. Public consumption expenditure increased
by 11%, a strong rebound from the 1.9% decline in 2012. Private consumption
expenditure recorded gains of 2.7%, moderating from the 4.1% increase in the
preceding year. |
|
|
Furthermore, in the first three quarters of 2014, the Singapore
economy grew by 3.3% on a year-on-year basis. For the rest of the year, growth
is expected to ease slightly on a year-on-year basis, in line with a
projected slowdown in the global economy. Externally-oriented sectors such as
the manufacturing and transportation & storage sectors are likely to
slow, whereas growth in the construction sector will continue to be weighed
down by the weakness in private sector construction activities. On the other
hand, domestically-oriented sectors like business services are likely to
remain resilient. |
|
|
Additionally, the labour market in Singapore is expected to remain
tight in 2015, with low unemployment and rising vacancy rates. Against this
global and domestic backdrop, the growth outlook for the Singapore economy
remains modest. In tandem with the expected pick-up in external demand, externally-oriented
sectors such as manufacturing, wholesale trade and finance & insurance
are likely to provide support to growth. While some domestically-oriented
sectors such as businesses services are expected to remain resilient,
labour-intensive ones like construction, retail and food services may see
their growth weighed down by labour constraints. |
|
|
OVERALL INDUSTRY
OUTLOOK : MARGINAL GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
Overall, the Subject's payment habit is
good as the Subject has a good credit control and it could be taking
advantage of the cash discounts while maintaining a good reputation with its
creditors. Based on the above condition, we recommend
credit be granted to the Subject normally. |
|
PROFIT
AND LOSS ACCOUNT
|
|
|
|
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
TRANSASIA
PACIFIC GGNR PTE. LTD. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean
Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
299,147,797 |
264,980,111 |
236,908,318 |
24,529,952 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
299,147,797 |
264,980,111 |
236,908,318 |
24,529,952 |
|
Costs of Goods Sold |
(292,641,330) |
(240,812,840) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
6,506,467 |
24,167,271 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,683,446 |
11,035,326 |
18,681,692 |
447,677 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
2,683,446 |
11,035,326 |
18,681,692 |
447,677 |
|
Taxation |
(307,000) |
(1,128,481) |
(3,153,605) |
(50,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,376,446 |
9,906,845 |
15,528,087 |
397,677 |
|
Minority interests |
1,011 |
2,479 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
2,377,457 |
9,909,324 |
15,528,087 |
397,677 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
2,377,457 |
9,909,324 |
15,528,087 |
397,677 |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
12,740,790 |
2,830,560 |
21,524,241 |
21,126,564 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
12,740,790 |
2,830,560 |
21,524,241 |
21,126,564 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
15,118,247 |
12,739,884 |
37,052,328 |
21,524,241 |
|
TRANSFER TO RESERVES - General |
1,720 |
906 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
15,119,967 |
12,740,790 |
37,052,328 |
21,524,241 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
||||
|
Letter of credit |
825,371 |
1,018,420 |
- |
- |
|
Term loan / Borrowing |
374,642 |
656,783 |
- |
- |
|
Trust receipts |
50,306 |
367,556 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,250,319 |
2,042,759 |
- |
- |
|
|
============= |
============= |
BALANCE
SHEET
|
|
|
|
TRANSASIA
PACIFIC GGNR PTE. LTD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
13,257,454 |
14,683,499 |
203,756 |
2,345 |
|
INTANGIBLE
ASSETS |
||||
|
Deferred/Expenditure carried forward |
1,926,115 |
2,418,918 |
- |
- |
|
Goodwill on consolidation |
1,107,343 |
1,107,343 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
3,033,458 |
3,526,261 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
16,290,912 |
18,209,760 |
203,756 |
2,345 |
|
Stocks |
22,449 |
605,117 |
- |
- |
|
Trade debtors |
77,530,843 |
88,014,035 |
- |
- |
|
Other debtors, deposits & prepayments |
979,007 |
459,242 |
- |
- |
|
Cash & bank balances |
522,465 |
380,422 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
79,054,764 |
89,458,816 |
75,654,423 |
11,680,328 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
95,345,676 |
107,668,576 |
75,858,179 |
11,682,673 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade creditors |
23,044,300 |
17,246,776 |
- |
- |
|
Other creditors & accruals |
3,709,533 |
5,637,057 |
- |
- |
|
Other borrowings |
18,595,498 |
33,682,988 |
- |
- |
|
Provision for taxation |
331,000 |
1,129,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
45,680,331 |
57,695,821 |
51,296,832 |
11,146,123 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
33,374,433 |
31,762,995 |
24,357,591 |
534,205 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
49,665,345 |
49,972,755 |
24,561,347 |
536,550 |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
16,967,378 |
16,967,378 |
21,265,437 |
21,265,437 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
16,967,378 |
16,967,378 |
21,265,437 |
21,265,437 |
|
Revaluation reserve |
407,188 |
- |
- |
- |
|
Exchange equalisation/fluctuation reserve |
455,978 |
130,834 |
- |
- |
|
Retained profit/(loss) carried forward |
15,119,967 |
12,740,790 |
37,052,328 |
21,524,241 |
|
Others |
- |
- |
(33,756,418) |
(42,253,128) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
15,983,133 |
12,871,624 |
3,295,910 |
(20,728,887) |
|
MINORITY INTEREST |
(9,893) |
(8,882) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
32,940,618 |
29,830,120 |
24,561,347 |
536,550 |
|
Long term loans |
802,625 |
853,042 |
- |
- |
|
Other long term borrowings |
15,922,102 |
19,289,593 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
16,724,727 |
20,142,635 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
49,665,345 |
49,972,755 |
24,561,347 |
536,550 |
|
|
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
TRANSASIA
PACIFIC GGNR PTE. LTD. |
|
TYPES OF FUNDS |
||||
|
Cash |
522,465 |
380,422 |
- |
- |
|
Net Liquid Funds |
522,465 |
380,422 |
- |
- |
|
Net Liquid Assets |
33,351,984 |
31,157,878 |
24,357,591 |
534,205 |
|
Net Current Assets/(Liabilities) |
33,374,433 |
31,762,995 |
24,357,591 |
534,205 |
|
Net Tangible Assets |
46,631,887 |
46,446,494 |
24,561,347 |
536,550 |
|
Net Monetary Assets |
16,627,257 |
11,015,243 |
24,357,591 |
534,205 |
|
BALANCE SHEET
ITEMS |
||||
|
Total Borrowings |
35,320,225 |
53,825,623 |
- |
- |
|
Total Liabilities |
62,405,058 |
77,838,456 |
51,296,832 |
11,146,123 |
|
Total Assets |
95,345,676 |
107,668,576 |
75,858,179 |
11,682,673 |
|
Net Assets |
49,665,345 |
49,972,755 |
24,561,347 |
536,550 |
|
Net Assets Backing |
32,940,618 |
29,830,120 |
24,561,347 |
536,550 |
|
Shareholders' Funds |
32,940,618 |
29,830,120 |
24,561,347 |
536,550 |
|
Total Share Capital |
16,967,378 |
16,967,378 |
21,265,437 |
21,265,437 |
|
Total Reserves |
15,983,133 |
12,871,624 |
3,295,910 |
(20,728,887) |
|
LIQUIDITY
(Times) |
||||
|
Cash Ratio |
0.01 |
0.01 |
- |
- |
|
Liquid Ratio |
1.73 |
1.54 |
- |
- |
|
Current Ratio |
1.73 |
1.55 |
1.47 |
1.05 |
|
WORKING CAPITAL CONTROL
(Days) |
||||
|
Stock Ratio |
0 |
1 |
- |
- |
|
Debtors Ratio |
95 |
121 |
- |
- |
|
Creditors Ratio |
29 |
26 |
- |
- |
|
SOLVENCY RATIOS
(Times) |
||||
|
Gearing Ratio |
1.07 |
1.80 |
- |
- |
|
Liabilities Ratio |
1.89 |
2.61 |
2.09 |
20.77 |
|
Times Interest Earned Ratio |
3.15 |
6.40 |
- |
- |
|
Assets Backing Ratio |
2.75 |
2.74 |
1.15 |
0.03 |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating Profit Margin |
0.90 |
4.16 |
7.89 |
1.83 |
|
Net Profit Margin |
0.79 |
3.74 |
6.55 |
1.62 |
|
Return On Net Assets |
7.92 |
26.17 |
76.06 |
83.44 |
|
Return On Capital Employed |
7.47 |
24.45 |
76.06 |
83.44 |
|
Return On Shareholders' Funds/Equity |
7.22 |
33.22 |
63.22 |
74.12 |
|
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. 62.59 |
|
|
1 |
Rs. 92.45 |
|
Euro |
1 |
Rs. 67.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPT |
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.