|
Report No. : |
315479 |
|
Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
CELLMARK ASIA PTE LTD |
|
|
|
|
Registered Office : |
271, Bukit Timah Road, 03-13, Balmoral Plaza, 259708 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
27.06.1989 |
|
|
|
|
Com. Reg. No.: |
198902610-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the forestry, logging and related service
activities. |
|
|
|
|
No. of Employees : |
28 [2015] |
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 : |
Slow but correct |
|
Litigation : |
Exist |
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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
198902610-D |
|
COMPANY NAME |
: |
CELLMARK ASIA PTE LTD |
|
FORMER NAME |
: |
CELLMARK (F.E) PTE LTD (01/07/2002) |
|
INCORPORATION DATE |
: |
27/06/1989 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
271, BUKIT TIMAH ROAD, 03-13, BALMORAL PLAZA, 259708, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
271, BUKIT TIMAH ROAD, 03-13, BALMORAL PLAZA, 259708, SINGAPORE. |
|
TEL.NO. |
: |
65-67371137 |
|
FAX.NO. |
: |
65-67378762 |
|
WEB SITE |
: |
WWW.CELLMARK.COM |
|
CONTACT PERSON |
: |
HANS OSTEN KLING ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
FORESTRY, LOGGING AND RELATED SERVICE ACTIVITIES |
|
ISSUED AND PAID UP CAPITAL |
: |
1,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,000,000.00 |
|
SALES |
: |
USD 161,441,571 [2013] |
|
NET WORTH |
: |
USD 5,613,859 [2013] |
|
STAFF STRENGTH |
: |
28 [2015] |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
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) forestry,
logging and related service activities.
The immediate holding company of the Subject is CELLMARK AB, a company
incorporated in SWEDEN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
02/04/2015 |
SGD 1,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CELLMARK AB |
LILLA BOMMEN, 3C, 4TH FLOOR, SE-411, 03, GOTTENBURG, SWEDEN. |
S89UF0157 |
1,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
198905415W |
SINGAPORE |
CELLFIBER PTE LTD |
100.00 |
01/04/2015 |
|
|
|
|
|
|
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
PAR JOHAN INGVAR OLSSON RAFSTEDT |
|
Address |
: |
DOMHERREGATAN 8, SE-426, 69, VASTRA, FROLUNDA, SWEDEN. |
|
IC / PP No |
: |
82711854 |
|
Nationality |
: |
SWEDE |
|
Date of Appointment |
: |
16/01/2015 |
DIRECTOR 2
|
Name Of Subject |
: |
KELLY NG HUI PENG |
|
Address |
: |
43, RIVERINA CRESCENT, 518277, SINGAPORE. |
|
IC / PP No |
: |
S7142397B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
31/10/2011 |
DIRECTOR 3
|
Name Of Subject |
: |
KERSTIN MARIA AJAX |
|
Address |
: |
DALBERGAVAGEN, 32, SE-429, 31, KULLAVIK, SWEDEN. |
|
IC / PP No |
: |
81574807 |
|
Nationality |
: |
SWEDE |
|
Date of Appointment |
: |
16/01/2015 |
DIRECTOR 4
|
Name Of Subject |
: |
LARS FREDRIK ANDERSON |
|
Address |
: |
GOTABERGSGATAN, 9, LGH, 1404, SE-411, 34, GOTEBORG, SWEDEN. |
|
IC / PP No |
: |
86694000 |
|
Nationality |
: |
SWEDE |
|
Date of Appointment |
: |
16/01/2015 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
HANS OSTEN KLING |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
HENG LEE SENG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
LIEW JAIR YUN |
|
IC / PP No |
: |
S7700564A |
|
|
Address |
: |
922, JURONG WEST STREET, 92, 08-51, 640922, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
199903748 |
09/09/1999 |
N/A |
SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) |
- |
Unsatisfied |
|
C201401787 |
14/02/2014 |
N/A |
SKANDINAVISKA ENSKILDA BANKEN AB (PUBL) |
- |
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.
|
LEGAL ACTION |
|
||||||||||||
|
|||||||||||||
|
Code No |
: |
99 |
Case No |
: |
6671 |
||||||||
|
Year |
: |
2010 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
MAGISTRATE COURT |
|||||||||||
|
Date Filed |
: |
16/03/2010 |
|||||||||||
|
Solicitor Ref |
: |
CG636.ACC.25111.1 0/YT |
|||||||||||
|
Solicitor Firm |
: |
TEO KENG SIANG & PARTNERS |
|||||||||||
|
Plaintiff |
: |
CHEONG FOO CHEE |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||||||||
|
No winding up petition was found in our databank |
||
PAYMENT
RECORD
|
|
||
|
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 |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
FORESTRY, LOGGING AND RELATED SERVICE ACTIVITIES |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2014 |
2013 |
2012 |
2011 |
||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
28 |
35 |
28 |
27 |
35 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) forestry, logging and
related service activities.
The Subject refused to disclose any information on its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-67371137 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
271 BUKTI TIMAH ROAD, 03-13, BALMORAL PLAZA SINGAPORE 259708 |
|
Current Address |
: |
271, BUKIT TIMAH ROAD, 03-13, BALMORAL PLAZA, 259708, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
7.89% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
7.62% |
] |
|
|
The continuous fall in turnover could be due to the lower demand for
the Subject's products / services.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
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 |
[ |
2 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
68 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
43 Days |
] |
|
|
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. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Favourable |
[ |
1.02 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.05 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 |
[ |
7.98 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
1.81 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 decreased, its losses also decreased
during the year. This could be the result of more efficient control in its
operating costs. 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 : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in the
third quarter of 2014, extending the 1.8 per cent growth in the previous quarter.
In 2013, the wholesale and retail sector expanded by 5.0%, after declining by
1.4% the year before. Growth of the sector was driven by the wholesale trade
segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the fourth
quarter of 2013, moderating from the 6.6% growth in the previous quarter. The
slower growth was due to a decline in the sales of furniture and household
equipment (-12%) and petroleum and petroleum products (-0.6%). For the full
year, the domestic wholesale trade index grew by 5.2% reversing the 2.2%
decline in 2012. On the other hand, the foreign wholesale trade index has
increased by a slower pace of 5.6% in the fourth quarter, compared to the
7.7% expansion in the preceding quarter. The slowdown was due to a fall in
the sales of telecommunication equipment and computer (-3.8%) and petroleum
and petroleum products (-2.5%). For the full year, the growth of the foreign
wholesale trade index moderated slightly to 8.6% from 9.1% in the previous
year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%,
extending the 5.6% decline in the previous quarter. Excluding motor vehicles,
retail sales volume increased by 0.4%, a slower pace of expansion as compared
to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles
fell by 33% in the fourth quarter of 2013, extending the 32% decline in the
previous quarter. Meanwhile, the sales of several discretionary items also
fell in the fourth quarter of 2013. For instance, the sales of
telecommunications apparatus and computers fell by 12%, while the sales of
furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a reversal
from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail
sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012.
Watches and jewellery recorded the largest increase (11%) in sales in 2013,
followed by optical goods and book (3%) and medical goods and toiletries
(3%). By contrast, the sales of telecommunications apparatus and computer
(-7.3%), furniture and household equipment (-4.2%) and petrol service
stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
CELLMARK ASIA 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 |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
SGD |
SGD |
SGD |
|
TURNOVER |
161,441,571 |
175,656,943 |
260,326,244 |
184,746,563 |
167,595,306 |
|
Other Income |
2,035,477 |
2,119,182 |
3,079,356 |
2,119,793 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
163,477,048 |
177,776,125 |
263,405,600 |
186,866,356 |
167,595,306 |
|
Costs of Goods Sold |
(157,446,094) |
(171,361,576) |
(254,579,477) |
(178,415,097) |
(159,794,377) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
6,030,954 |
6,414,549 |
8,826,123 |
8,451,259 |
7,800,929 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
457,971 |
(720,534) |
(273,233) |
726,342 |
2,940,952 |
|
SHARE OF PROFITS/(LOSSES) OF ASSOCIATED COMPANIES |
(83,951) |
4,987 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
374,020 |
(715,547) |
(273,233) |
726,342 |
2,940,952 |
|
Taxation |
69,163 |
42,877 |
54,582 |
(62,827) |
(288,788) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
443,183 |
(672,670) |
(218,651) |
663,515 |
2,652,164 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
4,114,595 |
4,787,265 |
6,427,815 |
5,764,300 |
6,112,136 |
|
Prior year adjustment |
280,118 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
4,394,713 |
4,787,265 |
6,427,815 |
5,764,300 |
6,112,136 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
4,837,896 |
4,114,595 |
6,209,164 |
6,427,815 |
8,764,300 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
- |
- |
(3,000,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
4,837,896 |
4,114,595 |
6,209,164 |
6,427,815 |
5,764,300 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
- |
- |
- |
9,024 |
9,821 |
|
Term loan / Borrowing |
52,800 |
214,567 |
11,603 |
225,358 |
236,763 |
|
Trust receipts |
- |
- |
- |
94,597 |
205,028 |
|
Others |
769 |
5,538 |
9,340 |
35,133 |
113,359 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
53,569 |
220,105 |
20,943 |
364,112 |
564,971 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
CELLMARK ASIA PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
56,039 |
37,667 |
168,567 |
307,933 |
326,507 |
|
Associated companies |
2,345,323 |
2,502,492 |
46,450 |
- |
- |
|
Deferred assets |
119,564 |
64,488 |
7,836 |
- |
- |
|
Others |
1,453,448 |
1,463,228 |
813,626 |
134,750 |
59,500 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
3,918,335 |
4,030,208 |
867,912 |
134,750 |
59,500 |
|
INTANGIBLE ASSETS |
|||||
|
Deferred/Expenditure carried forward |
99,257 |
104,138 |
- |
18,996 |
- |
|
Others |
- |
- |
134,160 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
99,257 |
104,138 |
134,160 |
18,996 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
4,073,631 |
4,172,013 |
1,170,639 |
461,679 |
386,007 |
|
Stocks |
787,375 |
1,731,384 |
6,162,533 |
7,672,638 |
4,243,400 |
|
Trade debtors |
30,025,062 |
31,144,262 |
43,876,306 |
51,287,455 |
47,441,771 |
|
Other debtors, deposits & prepayments |
- |
- |
636,686 |
299,258 |
193,654 |
|
Short term loan to financial institutions |
- |
- |
- |
4,019 |
4,347 |
|
Amount due from holding company |
75,952 |
- |
24,391 |
- |
- |
|
Amount due from subsidiary companies |
67,657 |
- |
97,242 |
- |
- |
|
Amount due from associated companies |
- |
54,462 |
- |
- |
- |
|
Cash & bank balances |
1,384,244 |
1,942,579 |
3,353,075 |
1,095,614 |
2,397,761 |
|
Others |
1,535,165 |
1,949,963 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
33,875,455 |
36,822,650 |
54,150,233 |
60,358,984 |
54,280,933 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
37,949,086 |
40,994,663 |
55,320,872 |
60,820,663 |
54,666,940 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
18,763,787 |
18,091,466 |
24,407,402 |
21,686,055 |
11,369,126 |
|
Other creditors & accruals |
13,637 |
4,724 |
1,877,631 |
14,147,167 |
1,263,600 |
|
Bank overdraft |
- |
- |
- |
- |
639,259 |
|
Short term borrowings/Term loans |
2,618,653 |
5,079,903 |
10,525,660 |
6,299,358 |
13,825,577 |
|
Other borrowings |
7,559,000 |
4,181,074 |
6,904,723 |
11,145,106 |
20,456,602 |
|
Amounts owing to holding company |
3,255,929 |
8,247,699 |
1,547,846 |
- |
- |
|
Amounts owing to subsidiary companies |
96,072 |
95,272 |
2,817,683 |
- |
- |
|
Provision for taxation |
- |
14,435 |
- |
100,127 |
360,562 |
|
Other liabilities |
28,149 |
103,745 |
70,843 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
32,335,227 |
35,818,318 |
48,151,788 |
53,377,813 |
47,914,726 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,540,228 |
1,004,332 |
5,998,445 |
6,981,171 |
6,366,207 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
5,613,859 |
5,176,345 |
7,169,084 |
7,442,850 |
6,752,214 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
818,000 |
779,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
818,000 |
779,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Exchange equalisation/fluctuation reserve |
(42,037) |
282,750 |
- |
- |
- |
|
Retained profit/(loss) carried forward |
4,837,896 |
4,114,595 |
6,209,164 |
6,427,815 |
5,764,300 |
|
Others |
- |
- |
(40,080) |
7,179 |
(20,019) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
4,795,859 |
4,397,345 |
6,169,084 |
6,434,994 |
5,744,281 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
5,613,859 |
5,176,345 |
7,169,084 |
7,434,994 |
6,744,281 |
|
Deferred taxation |
- |
- |
- |
7,856 |
7,933 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
- |
- |
- |
7,856 |
7,933 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
5,613,859 |
5,176,345 |
7,169,084 |
7,442,850 |
6,752,214 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
CELLMARK ASIA PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,384,244 |
1,942,579 |
3,353,075 |
1,095,614 |
2,397,761 |
|
Net Liquid Funds |
1,384,244 |
1,942,579 |
3,353,075 |
1,095,614 |
1,758,502 |
|
Net Liquid Assets |
752,853 |
(727,052) |
(164,088) |
(691,467) |
2,122,807 |
|
Net Current Assets/(Liabilities) |
1,540,228 |
1,004,332 |
5,998,445 |
6,981,171 |
6,366,207 |
|
Net Tangible Assets |
5,514,602 |
5,072,207 |
7,034,924 |
7,423,854 |
6,752,214 |
|
Net Monetary Assets |
752,853 |
(727,052) |
(164,088) |
(699,323) |
2,114,874 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
427,589 |
(495,442) |
(252,290) |
1,090,454 |
3,505,923 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
427,589 |
(495,442) |
(252,290) |
1,090,454 |
3,505,923 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
10,177,653 |
9,260,977 |
17,430,383 |
17,444,464 |
34,921,438 |
|
Total Liabilities |
32,335,227 |
35,818,318 |
48,151,788 |
53,385,669 |
47,922,659 |
|
Total Assets |
37,949,086 |
40,994,663 |
55,320,872 |
60,820,663 |
54,666,940 |
|
Net Assets |
5,613,859 |
5,176,345 |
7,169,084 |
7,442,850 |
6,752,214 |
|
Net Assets Backing |
5,613,859 |
5,176,345 |
7,169,084 |
7,434,994 |
6,744,281 |
|
Shareholders' Funds |
5,613,859 |
5,176,345 |
7,169,084 |
7,434,994 |
6,744,281 |
|
Total Share Capital |
818,000 |
779,000 |
1,000,000 |
1,000,000 |
1,000,000 |
|
Total Reserves |
4,795,859 |
4,397,345 |
6,169,084 |
6,434,994 |
5,744,281 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.04 |
0.05 |
0.07 |
0.02 |
0.05 |
|
Liquid Ratio |
1.02 |
0.98 |
1.00 |
0.99 |
1.04 |
|
Current Ratio |
1.05 |
1.03 |
1.12 |
1.13 |
1.13 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
2 |
4 |
9 |
15 |
9 |
|
Debtors Ratio |
68 |
65 |
62 |
101 |
103 |
|
Creditors Ratio |
43 |
39 |
35 |
44 |
26 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
1.81 |
1.79 |
2.43 |
2.35 |
5.18 |
|
Liabilities Ratio |
5.76 |
6.92 |
6.72 |
7.18 |
7.11 |
|
Times Interest Earned Ratio |
7.98 |
(2.25) |
(12.05) |
2.99 |
6.21 |
|
Assets Backing Ratio |
6.74 |
6.51 |
7.03 |
7.42 |
6.75 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.23 |
(0.41) |
(0.10) |
0.39 |
1.75 |
|
Net Profit Margin |
0.27 |
(0.38) |
(0.08) |
0.36 |
1.58 |
|
Return On Net Assets |
7.62 |
(9.57) |
(3.52) |
14.65 |
51.92 |
|
Return On Capital Employed |
7.48 |
(9.38) |
(3.45) |
14.61 |
47.43 |
|
Return On Shareholders' Funds/Equity |
7.89 |
(13.00) |
(3.05) |
8.92 |
39.32 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
1.13 |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
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
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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.