|
Report No. : |
319214 |
|
Report Date : |
28.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
DIRECT GLOBAL LOGISTICS PTE. LTD. |
|
|
|
|
Registered Office : |
33, UBI AVENUE 3, 08-68, VERTEX, 408868 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation : |
06.01.2006 |
|
|
|
|
Com. Reg. No.: |
200600311-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Freight Forwarding, Packing and Crating Services &
Other Transportation Support Activities |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Poor |
|
|
|
|
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 |
|
REGISTRATION NO. |
: |
200600311-G |
|
COMPANY NAME |
: |
DIRECT GLOBAL LOGISTICS PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
06/01/2006 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
33, UBI AVENUE 3, 08-68, VERTEX, 408868, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
33, UBI AVENUE 3, 08-68, VERTEX, TOWER A, 408868, SINGAPORE. |
|
TEL.NO. |
: |
65-67491791 |
|
FAX.NO. |
: |
65-65127783 |
|
CONTACT PERSON |
: |
D.THANARAJ ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
FREIGHT FORWARDING, PACKING AND CRATING SERVICES & OTHER
TRANSPORTATION SUPPORT ACTIVITIES |
|
ISSUED AND PAID UP CAPITAL |
: |
150,000.00 ORDINARY SHARE, OF A VALUE OF SGD 150,000.00 |
|
SALES |
: |
SGD 1,149 [2013] |
|
NET WORTH |
: |
SGD (635,591) [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
POOR |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL GROWTH |
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) freight forwarding, packing and crating services & other transportation support activities.
The immediate holding company of the Subject is DIRECT LOGISTICS INDIA PVT LTD, a company incorporated in INDIA.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
28/04/2015 |
SGD 150,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
DIRECT LOGISTICS INDIA PVT LTD |
403-4 'B', MANGALYA, OFF MAROL MAROSHI ROAD, ANDERI EAST, MUMBAI-400059, INDIA. |
T05UF2646 |
150,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
150,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
SUNIL DEVRANI |
|
Address |
: |
2204, B WING, OBEROI GARDEN, THAKUR VILLAGE, SAMTA NAGAR, MUMBAI 101,
INDIA. |
|
IC / PP No |
: |
F0933745 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
06/01/2006 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. D.THANARAJ |
|
Address |
: |
546, MILTONIA CLOSE, 02-56, THE MILTONIA RESIDENCES, 768117,
SINGAPORE. |
|
IC / PP No |
: |
S0765115E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
06/01/2006 |
DIRECTOR 3
|
Name Of Subject |
: |
SANJAY SIKKA |
|
Address |
: |
GH-8/345 PASCHIM VIHAR, NEW DELHI-110063, INDIA. |
|
IC / PP No |
: |
F4034387 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
14/07/2009 |
|
1) |
Name of Subject |
: |
D.THANARAJ |
|
Position |
: |
DIRECTOR |
|
|
Auditor |
: |
NACN INTERNATIONAL PAC |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
GERARD S/O D. THANARAJ |
|
IC / PP No |
: |
S7339946G |
|
|
Address |
: |
62, WOODLANDS DRIVE 16, 11-28, LA CASA, 737895, SINGAPORE. |
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
* 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.
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose any information on 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 |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose any information on the
Subject's clientele.
|
Services |
: |
FREIGHT FORWARDING, PACKING AND CRATING SERVICES & OTHER
TRANSPORTATION SUPPORT ACTIVITIES |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) freight forwarding,
packing and crating services & other transportation support activities.
The staff from the registered office refused
to disclose the Subject's operation.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6567491791 |
|
Current Telephone Number |
: |
65-67491791 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
33 UBI AVENUE #08-68 VERTEX SINGAPORE 408868 |
|
Current Address |
: |
33, UBI AVENUE 3, 08-68, VERTEX, TOWER A, 408868, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 24th 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 and number of employees.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
2.22% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
2.22% |
] |
|
|
The continuous fall in turnover could be due to the lower demand for
the Subject's products / services.The Subject could be more efficient in
controlling its operating costs and had managed to reduce its losses during the
year. 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 |
: |
Nil |
[ |
0 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
5153 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
13537 Days |
] |
|
|
As the Subject is a service oriented company, the Subject does not need
to keep stocks. The Subject's debtors ratio was high. The Subject should
tighten its credit control and improve its collection period. The
unfavourable creditors' ratio could be due to the Subject taking advantage of
the credit granted by its suppliers. However this may affect the goodwill
between the Subject and its suppliers and the Subject may inadvertently have
to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.03 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.03 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 |
[ |
(470.33 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 : |
||||||
|
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. 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 |
||||||
|
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 : |
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 |
|
|
Incorporated in 2006, the Subject is a Private Limited
company, focusing on freight forwarding, packing and crating services & other
transportation support activities. Having been in business for more than 5
years, the Subject has established a remarkable clientele base for itself
which has contributed to its business growth. The Subject have a strong
support from its shareholder. However, the Subject does not have a strong
capital position. Without a strong capital, the Subject may face difficulties
to expand its business compared to other large corporation.
The industry has reached its maturity stage and only
enjoying a marginal growth. The steady growth of the country's economy will
further enhance the industry activities. Thus, the Subject's future
performance is very much depend on its marketing strategies in order to
retain its position in the market. |
|
|
|
Financial Year End |
2013-03-31 |
2012-03-31 |
2011-03-31 |
|
Months |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
|
Currency |
SGD |
SGD |
SGD |
|
TURNOVER |
1,149 |
403,546 |
1,734,132 |
|
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
1,149 |
403,546 |
1,734,132 |
|
Costs of Goods Sold |
(890) |
(331,378) |
(1,591,477) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
259 |
72,168 |
142,655 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(14,140) |
(178,753) |
212 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(14,140) |
(178,753) |
212 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(14,140) |
(178,753) |
212 |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As previously reported |
(771,451) |
(592,698) |
(592,910) |
|
---------------- |
---------------- |
---------------- |
|
|
As restated |
(771,451) |
(592,698) |
(592,910) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(785,591) |
(771,451) |
(592,698) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(785,591) |
(771,451) |
(592,698) |
|
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||
|
Bank overdraft |
30 |
60 |
30 |
|
---------------- |
---------------- |
---------------- |
|
|
30 |
60 |
30 |
|
|
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
3,696 |
5,838 |
10,037 |
|
---------------- |
---------------- |
---------------- |
|
|
3,696 |
5,838 |
10,037 |
|
|
============= |
============= |
============= |
|
ASSETS EMPLOYED: |
|||
|
FIXED ASSETS |
1,633 |
5,327 |
11,165 |
|
Deposits |
- |
- |
5,092 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
- |
- |
5,092 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,633 |
5,327 |
16,257 |
|
Trade debtors |
16,220 |
13,621 |
117,493 |
|
Other debtors, deposits & prepayments |
1,554 |
8,790 |
59,833 |
|
Cash & bank balances |
5,178 |
10,775 |
22,268 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
22,952 |
33,186 |
199,594 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
24,585 |
38,513 |
215,851 |
|
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||
|
Trade creditors |
33,007 |
31,773 |
56,108 |
|
Other creditors & accruals |
5,500 |
8,245 |
21,228 |
|
Amounts owing to holding company |
621,669 |
619,946 |
581,213 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
660,176 |
659,964 |
658,549 |
|
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(637,224) |
(626,778) |
(458,955) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
(635,591) |
(621,451) |
(442,698) |
|
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||
|
Ordinary share capital |
150,000 |
150,000 |
150,000 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
150,000 |
150,000 |
150,000 |
|
Retained profit/(loss) carried forward |
(785,591) |
(771,451) |
(592,698) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(785,591) |
(771,451) |
(592,698) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(635,591) |
(621,451) |
(442,698) |
|
---------------- |
---------------- |
---------------- |
|
|
(635,591) |
(621,451) |
(442,698) |
|
|
============= |
============= |
============= |
|
TYPES OF FUNDS |
|||
|
Cash |
5,178 |
10,775 |
22,268 |
|
Net Liquid Funds |
5,178 |
10,775 |
22,268 |
|
Net Liquid Assets |
(637,224) |
(626,778) |
(458,955) |
|
Net Current Assets/(Liabilities) |
(637,224) |
(626,778) |
(458,955) |
|
Net Tangible Assets |
(635,591) |
(621,451) |
(442,698) |
|
Net Monetary Assets |
(637,224) |
(626,778) |
(458,955) |
|
PROFIT & LOSS ITEMS |
|||
|
Earnings Before Interest & Tax (EBIT) |
(14,110) |
(178,693) |
242 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
(10,414) |
(172,855) |
10,279 |
|
BALANCE SHEET ITEMS |
|||
|
Total Borrowings |
0 |
0 |
0 |
|
Total Liabilities |
660,176 |
659,964 |
658,549 |
|
Total Assets |
24,585 |
38,513 |
215,851 |
|
Net Assets |
(635,591) |
(621,451) |
(442,698) |
|
Net Assets Backing |
(635,591) |
(621,451) |
(442,698) |
|
Shareholders' Funds |
(635,591) |
(621,451) |
(442,698) |
|
Total Share Capital |
150,000 |
150,000 |
150,000 |
|
Total Reserves |
(785,591) |
(771,451) |
(592,698) |
|
LIQUIDITY (Times) |
|||
|
Cash Ratio |
0.01 |
0.02 |
0.03 |
|
Liquid Ratio |
0.03 |
0.05 |
0.30 |
|
Current Ratio |
0.03 |
0.05 |
0.30 |
|
WORKING CAPITAL CONTROL (Days) |
|||
|
Stock Ratio |
0 |
0 |
0 |
|
Debtors Ratio |
5,153 |
12 |
25 |
|
Creditors Ratio |
13,537 |
35 |
13 |
|
SOLVENCY RATIOS (Times) |
|||
|
Gearing Ratio |
0.00 |
0.00 |
0.00 |
|
Liabilities Ratio |
(1.04) |
(1.06) |
(1.49) |
|
Times Interest Earned Ratio |
(470.33) |
(2,978.22) |
8.07 |
|
Assets Backing Ratio |
(4.24) |
(4.14) |
(2.95) |
|
PERFORMANCE RATIO (%) |
|||
|
Operating Profit Margin |
(1,230.64) |
(44.30) |
0.01 |
|
Net Profit Margin |
(1,230.64) |
(44.30) |
0.01 |
|
Return On Net Assets |
2.22 |
28.75 |
(0.05) |
|
Return On Capital Employed |
2.22 |
28.75 |
(0.05) |
|
Return On Shareholders' Funds/Equity |
2.22 |
28.76 |
(0.05) |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.96.56 |
|
Euro |
1 |
Rs.69.18 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
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.