|
Report No. : |
318350 |
|
Report Date : |
23.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
HELIOS INTERNATIONAL PTE. LTD. |
|
|
|
|
Registered Office : |
65, Chulia Street, 38-02/03, Ocbc Centre, 049513 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
10.06.2008 |
|
|
|
|
Com. Reg. No.: |
200811403-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
LINE OF BUSINESS : |
SUBJECT
IS MANUFACTURE OF PIEZO- ELECTRIC DEVICES |
|
|
|
|
No. of Employee : |
50 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow |
|
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 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
|
|
REGISTRATION NO. |
: |
200811403-M |
|
COMPANY NAME |
: |
HELIOS INTERNATIONAL PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
10/06/2008 |
|
COMPANY STATUS |
: |
CLEAR |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
65, CHULIA STREET, 38-02/03, OCBC CENTRE, 049513, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
17, TUKANG INNOVATIONDRIVE, 618300, SINGAPORE. |
|
TEL.NO. |
: |
65-67895017 |
|
FAX.NO. |
: |
65-65555830 |
|
CONTACT PERSON |
: |
TAN TECK NGUAN ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
MANUFACTURE OF PIEZO- ELECTRIC DEVICES |
|
ISSUED AND PAID UP CAPITAL |
: |
2.00 ORDINARY SHARE, OF A VALUE OF SGD 2.00 |
|
SALES |
: |
USD 7,592,956 [2014] |
|
NET WORTH |
: |
USD (937,188) [2014] |
|
STAFF STRENGTH |
: |
50 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
POOR |
|
PAYMENT |
: |
SLOW |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
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 piezo- electric
devices.
The immediate
holding company of the Subject is SUNGATE ORIENTAL LIMITED, a company
incorporated in VIRGIN ISLANDS, BRITISH.
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
22/04/2015 |
SGD 2.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SUNGATE ORIENTAL LIMITED |
NERINE CHAMBERS, PO BOX 905, ROAD TOWN, TORTOLA, VIRGIN ISLANDS,
BRITISH. |
T12UF3377 |
2.00 |
100.00 |
|
--------------- |
------ |
|||
|
2.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MICHAEL TAN TECK NGUAN |
|
Address |
: |
205, ANG MO KIO AVENUE 1, 07-1089, 560205, SINGAPORE. |
|
IC / PP No |
: |
S1217289C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
10/06/2008 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
TAN TECK NGUAN |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
AT ADLER |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
JOCELYN YAP CHING CHING |
|
IC / PP No |
: |
S7048039E |
|
|
Address |
: |
626, UPPER THOMSON ROAD, 05-38, MEADOWS @ PEIRCE, 787130, 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 |
: |
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 |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
|
||
|
Products manufactured |
: |
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2013 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
50 |
50 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of piezo-
electric devices.
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 |
: |
65 6555 5825 |
|
Current Telephone Number |
: |
65-67895017 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
17, TUKANG INNOVATIONDRIVE SINGAPORE 618300 |
|
Current Address |
: |
17, TUKANG INNOVATIONDRIVE, 618300, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 20th April 2015 we contacted one of the staff from the registered office and
she only provided limited information on the Subject.
She refused to disclose the Subject bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2011 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
120.77% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(25.16%) |
] |
|
|
The fluctuating turnover reflects the fierce competition among the existing
and new market players.Higher losses before tax during the year could be due
to the higher operating costs incurred. Although the Subject's returns showed
positive figures it is not reflective of the true situation. The Subject
incurred losses during the year and its shareholders' funds have turned red.
The positive returns on shareholders' funds is the result of losses divided
by negative shareholders' funds. The Subject's management was inefficient in
utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
177 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
37 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. 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 |
[ |
0.61 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.64 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 |
[ |
(127.09 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 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 had no gearing and hence it had virtually no financial risk. The
Subject was financed by its shareholders' funds and internally generated
fund. During the economic downturn, the Subject, having a zero gearing, will
be able to compete better than those which are highly geared in the same
industry. |
||||||
|
Overall Assessment : |
||||||
|
The Subject's losses increased but its turnover showed a
fluctuating trend. This indicate the Subject was slowly losing its market
share due to its competitors. 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 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 : 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 : |
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 |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS
WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS. |
|
HELIOS
INTERNATIONAL PTE. LTD. |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
|
TURNOVER |
7,592,956 |
17,316,192 |
9,923,618 |
- |
|
Other Income |
- |
300,126 |
40,391 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
7,592,956 |
17,616,318 |
9,964,009 |
- |
|
Costs of Goods Sold |
(6,877,379) |
(16,244,823) |
(9,796,443) |
(4,372) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
715,577 |
1,371,495 |
167,566 |
(4,372) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(1,164,593) |
(45,585) |
147,363 |
(14,156) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(1,164,593) |
(45,585) |
147,363 |
(14,156) |
|
Taxation |
32,782 |
- |
(13,000) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(1,131,811) |
(45,585) |
134,363 |
(14,156) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As previously reported |
194,622 |
109,067 |
(25,296) |
(11,140) |
|
Prior year adjustment |
- |
131,140 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
194,622 |
240,207 |
(25,296) |
(11,140) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(937,189) |
194,622 |
109,067 |
(25,296) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(937,189) |
194,622 |
109,067 |
(25,296) |
|
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||||
|
Bank overdraft |
- |
- |
29 |
46 |
|
Others |
9,092 |
10,121 |
3,442 |
140 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
9,092 |
10,121 |
3,471 |
186 |
|
|
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
323,991 |
97,372 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
323,991 |
97,372 |
- |
- |
|
|
============= |
============= |
BALANCE
SHEET
|
|
HELIOS
INTERNATIONAL PTE. LTD. |
|
ASSETS EMPLOYED: |
||||
|
FIXED ASSETS |
1,618,361 |
1,029,389 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,618,361 |
1,029,389 |
- |
- |
|
Stocks |
3,674,563 |
4,531,525 |
5,943,490 |
201,431 |
|
Trade debtors |
2,978 |
78,992 |
- |
- |
|
Other debtors, deposits & prepayments |
74,369 |
147,199 |
1,013,561 |
14,742 |
|
Amount due from holding company |
860,589 |
- |
- |
- |
|
Cash & bank balances |
178,000 |
270,245 |
298,233 |
7,306 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
4,790,499 |
5,027,961 |
7,255,284 |
223,479 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,408,860 |
6,057,350 |
7,255,284 |
223,479 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
||||
|
Trade creditors |
700,393 |
1,843,168 |
1,410,573 |
209,299 |
|
Other creditors & accruals |
33,538 |
386,041 |
175,353 |
7,764 |
|
Amounts owing to holding company |
- |
- |
3,581,477 |
17,797 |
|
Amounts owing to subsidiary companies |
- |
104,382 |
- |
- |
|
Amounts owing to related companies |
1,082,962 |
1,965,813 |
1,965,813 |
13,914 |
|
Provision for taxation |
- |
39,860 |
13,000 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,816,893 |
4,339,264 |
7,146,216 |
248,774 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,973,606 |
688,697 |
109,068 |
(25,295) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
4,591,967 |
1,718,086 |
109,068 |
(25,295) |
|
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
||||
|
Ordinary share capital |
1 |
1 |
1 |
1 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1 |
1 |
1 |
1 |
|
Retained profit/(loss) carried forward |
(937,189) |
194,622 |
109,067 |
(25,296) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(937,189) |
194,622 |
109,067 |
(25,296) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(937,188) |
194,623 |
109,068 |
(25,295) |
|
Others |
5,529,155 |
1,523,463 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
5,529,155 |
1,523,463 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
4,591,967 |
1,718,086 |
109,068 |
(25,295) |
|
|
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
HELIOS
INTERNATIONAL PTE. LTD. |
|
TYPES OF FUNDS |
||||
|
Cash |
178,000 |
270,245 |
298,233 |
7,306 |
|
Net Liquid Funds |
178,000 |
270,245 |
298,233 |
7,306 |
|
Net Liquid Assets |
(700,957) |
(3,842,828) |
(5,834,422) |
(226,726) |
|
Net Current Assets/(Liabilities) |
2,973,606 |
688,697 |
109,068 |
(25,295) |
|
Net Tangible Assets |
4,591,967 |
1,718,086 |
109,068 |
(25,295) |
|
Net Monetary Assets |
(6,230,112) |
(5,366,291) |
(5,834,422) |
(226,726) |
|
PROFIT & LOSS ITEMS |
||||
|
Earnings Before Interest & Tax (EBIT) |
(1,155,501) |
(35,464) |
150,834 |
(13,970) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
(831,510) |
61,908 |
150,834 |
(13,970) |
|
BALANCE SHEET ITEMS |
||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
|
Total Liabilities |
7,346,048 |
5,862,727 |
7,146,216 |
248,774 |
|
Total Assets |
6,408,860 |
6,057,350 |
7,255,284 |
223,479 |
|
Net Assets |
4,591,967 |
1,718,086 |
109,068 |
(25,295) |
|
Net Assets Backing |
(937,188) |
194,623 |
109,068 |
(25,295) |
|
Shareholders' Funds |
(937,188) |
194,623 |
109,068 |
(25,295) |
|
Total Share Capital |
1 |
1 |
1 |
1 |
|
Total Reserves |
(937,189) |
194,622 |
109,067 |
(25,296) |
|
LIQUIDITY (Times) |
||||
|
Cash Ratio |
0.10 |
0.06 |
0.04 |
0.03 |
|
Liquid Ratio |
0.61 |
0.11 |
0.18 |
0.09 |
|
Current Ratio |
2.64 |
1.16 |
1.02 |
0.90 |
|
WORKING CAPITAL CONTROL (Days) |
||||
|
Stock Ratio |
177 |
96 |
219 |
0 |
|
Debtors Ratio |
0 |
2 |
0 |
0 |
|
Creditors Ratio |
37 |
41 |
53 |
17,473 |
|
SOLVENCY RATIOS (Times) |
||||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
(7.84) |
30.12 |
65.52 |
(9.83) |
|
Times Interest Earned Ratio |
(127.09) |
(3.50) |
43.46 |
(75.11) |
|
Assets Backing Ratio |
4,591,967.00 |
1,718,086.00 |
109,068.00 |
(25,295.00) |
|
PERFORMANCE RATIO (%) |
||||
|
Operating Profit Margin |
(15.34) |
(0.26) |
1.48 |
0.00 |
|
Net Profit Margin |
(14.91) |
(0.26) |
1.35 |
0.00 |
|
Return On Net Assets |
(25.16) |
(2.06) |
138.29 |
55.23 |
|
Return On Capital Employed |
(25.16) |
(2.06) |
138.29 |
55.23 |
|
Return On Shareholders' Funds/Equity |
120.77 |
(23.42) |
123.19 |
55.96 |
|
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.62.82 |
|
|
1 |
Rs.93.85 |
|
Euro |
1 |
Rs.67.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.