MIRA INFORM REPORT
|
Report No. : |
317545 |
|
Report Date : |
17.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUMITOMO FORESTRY (SINGAPORE) LTD. |
|
|
|
|
Formerly Known As : |
SUMITOMO FORESTRY (SINGAPORE) PTE LTD |
|
|
|
|
Registered Office : |
55, Market Street, 11-02, 048941 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
09.09.1987 |
|
|
|
|
Com. Reg. No.: |
198702804-R |
|
|
|
|
Legal Form : |
Public |
|
|
|
|
Line of Business : |
Wholesale of logs, sawn timber, plywood and related products |
|
|
|
|
No. of Employee : |
12 [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 : |
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.
Unemployment is very low. 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. Growth in 2014 was slower at 13.9%, 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%20LTD%20%20-%20317545%2017-Apr-2015_files/image006.gif){kind=small}
in
pharmaceuticals and medical technology production and will continue efforts to
establish Singapore as Southeast Asia's financial and high-tech hub. Singapore
is a member of the 12-nation Trans-Pacific Partnership free trade agreement
negotiations and, with the nine other ASEAN members, will form the ASEAN
Economic Community in 2015.
|
Source
: CIA |
EXECUTIVE
SUMMARY
HISTORY
/ BACKGROUND
As a public
limited company, the Subject must have at least one shareholder but there is
no limit on the maximum number of shareholders. The Subject must have at
least two directors. A public 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, suing or be sued by other companies.
The liabilities of the shareholders are only up 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 must file in its annual return, together with its financial
statements with the Registrar of Companies. The Subject is
principally engaged in the (as a / as an) wholesale of logs, sawn timber,
plywood and related products. The immediate
holding company of the Subject is SUMITOMO FORESTRY CO., LTD., a company
incorporated in JAPAN. Share Capital History
The major
shareholder(s) of the Subject are shown as follows :
+ Also Director DIRECTORS
DIRECTOR 1
DIRECTOR 2
DIRECTOR 3
DIRECTOR 4
DIRECTOR 5
MANAGEMENT
AUDITOR
COMPANY
SECRETARIES
BANKING
ENCUMBRANCE
(S)
LITIGATION
CHECK AGAINST SUBJECT
PAYMENT RECORD
CLIENTELE
OPERATIONS
Other Information:
CURRENT INVESTIGATION
Latest fresh investigations
carried out on the Subject indicated that :
Other
Investigations
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
20.35% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
(441.22%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(26.53%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(23.99%) |
] |
|
|
The higher turnover could be attributed to the favourable market
condition and the Subject could be gaining the market share progressively.Higher
losses before tax during the year could be due to the higher operating
costs incurred. 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 |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
36 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not
need to keep stocks. The favourable debtors' days could be due to the good
credit control measures implemented by the Subject. The Subject had a
favourable creditors' ratio where the Subject could be taking advantage of
the cash discounts and also wanting to maintain goodwill with its
creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.63 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.63 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 |
[ |
(23.68 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
2.22 Times |
] |
|
|
The Subject incurred losses in the year. It did not generate
sufficient income to service its interest. If the situation does not
improve, the Subject may be vulnerable to default in servicing the
interest. 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 increased its profits however showed
a reverse trend. The losses could be due to the management's failure to
maintain its competitiveness in the market. Due to its weak liquidity position,
the Subject will be faced with problems in meeting all its short term
obligations if no short term loan is obtained or additional capital
injected into the Subject. The Subject's interest cover was negative,
indicating that it did not generate sufficient income to service its
interest. If its result does not show impressive improvements or succeed
obtaining short term financing or capital injection, it may not be able to
service its interest and repay the loans. 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 : POOR |
||||||
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. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
56,530,102 |
46,972,799 |
|
Other Income |
- |
200 |
|
---------------- |
---------------- |
|
|
Total Turnover |
56,530,102 |
46,972,999 |
|
Costs of Goods Sold |
(53,894,293) |
(44,030,474) |
|
---------------- |
---------------- |
|
|
Gross Profit |
2,635,809 |
2,942,525 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(6,568,914) |
(1,213,731) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(6,568,914) |
(1,213,731) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(6,568,914) |
(1,213,731) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
2,858,660 |
4,072,391 |
|
---------------- |
---------------- |
|
|
As restated |
2,858,660 |
4,072,391 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(3,710,254) |
2,858,660 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(3,710,254) |
2,858,660 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
266,129 |
318,665 |
|
---------------- |
---------------- |
|
|
266,129 |
318,665 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
35,990 |
35,542 |
|
---------------- |
---------------- |
|
|
35,990 |
35,542 |
|
|
============= |
============= |
BALANCE
SHEET
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
57,343 |
90,943 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
||
|
Subsidiary companies |
717,000 |
717,000 |
|
Associated companies |
19,560,000 |
19,560,000 |
|
Investments |
2,478,001 |
7,678,001 |
|
Others |
23,800,000 |
18,700,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
46,555,001 |
46,655,001 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
46,612,344 |
46,745,944 |
|
Trade debtors |
5,509,273 |
6,823,511 |
|
Other debtors, deposits & prepayments |
307,331 |
433,531 |
|
Short term loans & advances |
25,850,000 |
29,500,000 |
|
Interest receivable |
85,283 |
56,106 |
|
Amount due from holding company |
23,372 |
- |
|
Amount due from subsidiary companies |
160 |
17,570 |
|
Amount due from related companies |
16,200 |
- |
|
Amount due from associated companies |
10,789 |
2,558 |
|
Cash & bank balances |
2,884,844 |
242,844 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
34,687,252 |
37,076,120 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
81,299,596 |
83,822,064 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
1,215,348 |
3,994,359 |
|
Other creditors & accruals |
60,729 |
64,483 |
|
Other borrowings |
53,500,000 |
44,600,000 |
|
Amounts owing to holding company |
102,761 |
108,826 |
|
Amounts owing to related companies |
- |
7,146 |
|
Provision for taxation |
143,621 |
204,713 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
55,022,459 |
48,979,527 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(20,335,207) |
(11,903,407) |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
26,277,137 |
34,842,537 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
28,470,449 |
28,470,449 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
28,470,449 |
28,470,449 |
|
Retained profit/(loss) carried forward |
(3,710,254) |
2,858,660 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(3,710,254) |
2,858,660 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
24,760,195 |
31,329,109 |
|
Other long term borrowings |
1,500,000 |
3,500,000 |
|
Deferred taxation |
16,942 |
13,428 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,516,942 |
3,513,428 |
|
---------------- |
---------------- |
|
|
26,277,137 |
34,842,537 |
|
|
============= |
============= |
|
FINANCIAL
RATIO
|
TYPES OF FUNDS |
||
|
Cash |
2,884,844 |
242,844 |
|
Net Liquid Funds |
2,884,844 |
242,844 |
|
Net Liquid Assets |
(20,335,207) |
(11,903,407) |
|
Net Current Assets/(Liabilities) |
(20,335,207) |
(11,903,407) |
|
Net Tangible Assets |
26,277,137 |
34,842,537 |
|
Net Monetary Assets |
(21,852,149) |
(15,416,835) |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
(6,302,785) |
(895,066) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
(6,266,795) |
(859,524) |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
55,000,000 |
48,100,000 |
|
Total Liabilities |
56,539,401 |
52,492,955 |
|
Total Assets |
81,299,596 |
83,822,064 |
|
Net Assets |
26,277,137 |
34,842,537 |
|
Net Assets Backing |
24,760,195 |
31,329,109 |
|
Shareholders' Funds |
24,760,195 |
31,329,109 |
|
Total Share Capital |
28,470,449 |
28,470,449 |
|
Total Reserves |
(3,710,254) |
2,858,660 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.05 |
0.00 |
|
Liquid Ratio |
0.63 |
0.76 |
|
Current Ratio |
0.63 |
0.76 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
36 |
53 |
|
Creditors Ratio |
8 |
33 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
2.22 |
1.54 |
|
Liabilities Ratio |
2.28 |
1.68 |
|
Times Interest Earned Ratio |
(23.68) |
(2.81) |
|
Assets Backing Ratio |
0.92 |
1.22 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
(11.62) |
(2.58) |
|
Net Profit Margin |
(11.62) |
(2.58) |
|
Return On Net Assets |
(23.99) |
(2.57) |
|
Return On Capital Employed |
(23.99) |
(2.57) |
|
Return On Shareholders' Funds/Equity |
(26.53) |
(3.87) |
|
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.62.37 |
|
|
1 |
Rs.92.44 |
|
Euro |
1 |
Rs.66.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.