|
Report No. : |
334465 |
|
Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
DESIPRO PTE. LTD. |
|
|
|
|
Registered Office : |
31, Tanjong Pagar Road, 04-01, 088454 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
22.10.2009 |
|
|
|
|
Com. Reg. No.: |
200919818-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
LINE OF BUSINESS : |
SUBJECT
IS MANUFACTURE OF SPORTING AND ATHLETIC GOODS |
|
|
|
|
No. of Employee : |
20 (2014) |
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 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 of consumer electronics, information technology products, medical and optical devices, pharmaceuticals, and on its vibrant transportation, business, and financial services sectors. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but has continued to grow since 2010 on the strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a result of soft demand for exports amid a sluggish global economy and weak growth in Singapore’s manufacturing sector. The government is attempting to restructure Singapore’s economy by weaning its dependence on foreign labor, addressing weak productivity, and increasing Singaporean wages. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to strengthen its position as Southeast Asia's leading financial and high-tech hub. Singapore is a member of the 12-nation Trans-Pacific Partnership free trade negotiations, the Regional Comprehensive Economic Partnership negotiations with the nine other ASEAN members plus Australia, China, India, Japan, South Korea and New Zealand, and in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic Community.
|
Source
: CIA |
EXECUTIVE SUMMARY |
|
REGISTRATION NO. |
: |
200919818-M |
|
COMPANY NAME |
: |
DESIPRO
PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
22/10/2009 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS |
: |
31, TANJONG PAGAR
ROAD, 04-01, 088454, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
31 TANJONG PAGAR
ROAD, #04-01, 088454, SINGAPORE. |
|
TEL.NO. |
: |
65-62254773/62238193 |
|
FAX.NO. |
: |
65-62252473 |
|
CONTACT PERSON |
: |
ETIENNE ALEXIS
CALLAFE ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY |
: |
MANUFACTURE OF
SPORTING AND ATHLETIC GOODS |
|
|
|
|
|
ISSUED AND PAID
UP CAPITAL |
: |
7,500,000.00 ORDINARY
SHARE, OF A VALUE OF EUR 7,500,000.00 |
|
|
|
|
|
SALES |
: |
SGD 571,541
[2013] |
|
NET WORTH |
: |
SGD (17,321)
[2013] |
|
|
|
|
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
N/A |
|
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
sporting and athletic goods.
The immediate holding company of the Subject is OSINVEST PTE. LTD., a
company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue &
Paid Up Capital |
|
29/07/2015 |
EUR 7,500,000.00
& SGD 80,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
OSINVEST PTE.
LTD. |
31, TANJONG PAGAR
ROAD, 04-01, 088454, SINGAPORE. |
201413789G |
7,580,000.00 |
100.00 |
|
|
|
|
--------------- |
------ |
|
|
|
|
7,580,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
DIRECTORS |
DIRECTOR 1
|
Name Of Subject |
: |
ETIENNE ALEXIS
CALLAFE |
|
Address |
: |
52, RUE DE LABBE
LEMIRE, MARCQ-EN-BAROEUL, 59700, FRANCE. |
|
IC / PP No |
: |
14A978871 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FRENCH |
|
Date of
Appointment |
: |
02/05/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
THIERRY STEPHANE
ANDRE EUGENE |
|
Address |
: |
3A, TANGLIN RISE,
TANGLIN HILL CONDOMINIUM, 247985, SINGAPORE. |
|
IC / PP No |
: |
G0796856L |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FRENCH |
|
Date of
Appointment |
: |
24/02/2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 3
|
Name Of Subject |
: |
YVES DIDIER
CLAUDE |
|
Address |
: |
38, TAMAN
NAKHODA, VILLA DELLE ROSE, 257762, SINGAPORE. |
|
IC / PP No |
: |
G3062745N |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
FRENCH |
|
Date of
Appointment |
: |
02/05/2014 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT |
|
|
|
1) |
Name of Subject |
: |
ETIENNE ALEXIS
CALLAFE |
|
|
Position |
: |
DIRECTOR |
|
|
|
|
|
AUDITOR |
|
Auditor |
: |
PRICEWATERHOUSECOOPERS
LLP |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
|
|
|
COMPANY SECRETARIES |
|
1) |
Company Secretary |
: |
KOH KOK ONG |
|
|
IC / PP No |
: |
S7119915J |
|
|
|
|
|
|
|
Address |
: |
3, ALEXANDRA VIEW,
06-11, ASCENTIA SKY, 158749, 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.
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 |
2014 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
20 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) manufacture of sporting
and athletic goods.
The staff from the Subject's registered office refused to disclose the
Subject's operation.
CURRENT INVESTIGATION |
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided
By Client |
: |
N/A |
|
Current Telephone
Number |
: |
65-62254773/62238193 |
|
Match |
: |
N/A |
|
|
|
|
|
Address Provided
by Client |
: |
31 TANJONG PAGAR
ROAD # 04-01 SINGAPORE 0088454 |
|
Current Address |
: |
31 TANJONG PAGAR ROAD,
#04-01, 088454, SINGAPORE. |
|
Match |
: |
YES |
|
|
|
|
Other
Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
She refused to disclose the Subject's number of employees.
FINANCIAL ANALYSIS |
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2011 - 2013 |
] |
|
|
Return on Shareholder
Funds |
: |
Unfavourable |
[ |
(115.91%) |
] |
|
|
Return on Net
Assets |
: |
Unfavourable |
[ |
(162.95%) |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's
turnover increased steadily as the demand for its products / services increased
due to the goodwill built up over the years.The higher profit could be
attributed to the increase in turnover. 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 |
: |
Acceptable |
[ |
56 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 Days |
] |
|
|
|
|
|
|
|
|
|
|
As the Subject is
a service oriented company, the Subject does not need to keep stocks. The
Subject's management was quite efficient in handling its debtors. The
Subject's debtors days were at an acceptable range, thus the risk of its
debts turning bad was minimised. 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 |
: |
Acceptable |
[ |
0.95 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.95 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's
liquid ratio was slightly low. This could indicate that the Subject's working
capital was slightly deficient. The Subject will have to improve its liquidity
position either by obtaining short term financing or increase its paid up
capital so that it can meet all its short term obligations as and when they
fall due. |
||||||
|
|
|
|
|
|
|
|
|
Solvency |
|
|
|
|
|
|
|
Interest Cover |
: |
Favourable |
[ |
15.41 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
|
|
|
|
|
|
|
|
The interest
cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough profit
to pay for the interest accrued. 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 : |
|
|
|
|
|
|
|
Generally, the
Subject's performance has improved with higher turnover and profit. The Subject's
liquidity was at an acceptable range. If the Subject is able to obtain
further short term financing, it should be able to meet all its short term
obligations. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. 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. |
|
DESIPRO PTE.
LTD. |
|
Financial Year
End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
|
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 |
571,541 |
410,279 |
311,700 |
|
Other Income |
3,638 |
- |
1,268 |
|
|
---------------- |
---------------- |
---------------- |
|
Total Turnover |
575,179 |
410,279 |
312,968 |
|
|
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
25,186 |
17,392 |
26,226 |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS)
BEFORE TAXATION |
25,186 |
17,392 |
26,226 |
|
Taxation |
(5,110) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS)
AFTER TAXATION |
20,076 |
17,392 |
26,226 |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
As previously
reported |
(117,397) |
(134,789) |
(161,015) |
|
|
---------------- |
---------------- |
---------------- |
|
As restated |
(117,397) |
(134,789) |
(161,015) |
|
|
---------------- |
---------------- |
---------------- |
|
PROFIT AVAILABLE
FOR APPROPRIATIONS |
(97,321) |
(117,397) |
(134,789) |
|
|
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(97,321) |
(117,397) |
(134,789) |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|
|
|
|
Loan from holding
company |
1,748 |
2,145 |
2,562 |
|
|
---------------- |
---------------- |
---------------- |
|
|
1,748 |
2,145 |
2,562 |
|
|
============= |
============= |
============= |
|
|
|
|
|
BALANCE SHEET |
|
DESIPRO PTE.
LTD. |
|
ASSETS
EMPLOYED: |
|
|
|
|
FIXED ASSETS |
4,658 |
7,141 |
8,873 |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM
ASSETS |
4,658 |
7,141 |
8,873 |
|
|
|
|
|
|
Trade debtors |
87,044 |
2,127 |
- |
|
Other debtors,
deposits & prepayments |
64,541 |
26,442 |
48,010 |
|
Amount due from
holding company |
127,338 |
71,463 |
- |
|
Cash & bank
balances |
109,812 |
33,152 |
248,601 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT
ASSETS |
388,735 |
133,184 |
296,611 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL ASSET |
393,393 |
140,325 |
305,484 |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
Trade creditors |
- |
- |
22 |
|
Other creditors
& accruals |
47,922 |
5,577 |
7,689 |
|
Amounts owing to
holding company |
360,681 |
172,145 |
352,562 |
|
Provision for
taxation |
1,319 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL CURRENT
LIABILITIES |
409,922 |
177,722 |
360,273 |
|
|
---------------- |
---------------- |
---------------- |
|
NET CURRENT
ASSETS/(LIABILITIES) |
(21,187) |
(44,538) |
(63,662) |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL NET ASSETS |
(16,529) |
(37,397) |
(54,789) |
|
|
============= |
============= |
============= |
|
|
|
|
|
|
SHARE CAPITAL |
|
|
|
|
Ordinary share
capital |
80,000 |
80,000 |
80,000 |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL SHARE
CAPITAL |
80,000 |
80,000 |
80,000 |
|
|
|
|
|
|
Retained
profit/(loss) carried forward |
(97,321) |
(117,397) |
(134,789) |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL RESERVES |
(97,321) |
(117,397) |
(134,789) |
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS'
FUNDS/EQUITY |
(17,321) |
(37,397) |
(54,789) |
|
|
|
|
|
|
Deferred taxation |
792 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
|
TOTAL LONG TERM
LIABILITIES |
792 |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
|
|
(16,529) |
(37,397) |
(54,789) |
|
|
============= |
============= |
============= |
|
|
|
|
|
FINANCIAL RATIO |
|
DESIPRO PTE. LTD. |
|
TYPES OF FUNDS |
|
|
|
|
Cash |
109,812 |
33,152 |
248,601 |
|
Net Liquid Funds |
109,812 |
33,152 |
248,601 |
|
Net Liquid Assets |
(21,187) |
(44,538) |
(63,662) |
|
Net Current Assets/(Liabilities) |
(21,187) |
(44,538) |
(63,662) |
|
Net Tangible
Assets |
(16,529) |
(37,397) |
(54,789) |
|
Net Monetary
Assets |
(21,979) |
(44,538) |
(63,662) |
|
PROFIT &
LOSS ITEMS |
|
|
|
|
Earnings Before
Interest & Tax (EBIT) |
0 |
0 |
0 |
|
Earnings Before
Interest, Taxes, Depreciation And Amortization (EBITDA) |
0 |
0 |
0 |
|
BALANCE SHEET
ITEMS |
|
|
|
|
Total Borrowings |
0 |
0 |
0 |
|
Total Liabilities |
410,714 |
177,722 |
360,273 |
|
Total Assets |
393,393 |
140,325 |
305,484 |
|
Net Assets |
(16,529) |
(37,397) |
(54,789) |
|
Net Assets
Backing |
(17,321) |
(37,397) |
(54,789) |
|
Shareholders'
Funds |
(17,321) |
(37,397) |
(54,789) |
|
Total Share
Capital |
80,000 |
80,000 |
80,000 |
|
Total Reserves |
(97,321) |
(117,397) |
(134,789) |
|
LIQUIDITY
(Times) |
|
|
|
|
Cash Ratio |
0.27 |
0.19 |
0.69 |
|
Liquid Ratio |
0.95 |
0.75 |
0.82 |
|
Current Ratio |
0.95 |
0.75 |
0.82 |
|
WORKING
CAPITAL CONTROL (Days) |
|
|
|
|
Stock Ratio |
0 |
0 |
0 |
|
Debtors Ratio |
56 |
2 |
0 |
|
Creditors Ratio |
0 |
0 |
0 |
|
SOLVENCY
RATIOS (Times) |
|
|
|
|
Gearing Ratio |
0 |
0 |
0 |
|
Liabilities Ratio |
(23.71) |
(4.75) |
(6.58) |
|
Times Interest
Earned Ratio |
15.41 |
9.11 |
11.24 |
|
Assets Backing
Ratio |
(0.21) |
(0.47) |
(0.68) |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
Operating Profit
Margin |
4.41 |
4.24 |
8.41 |
|
Net Profit Margin |
3.51 |
4.24 |
8.41 |
|
Return On Net
Assets |
(162.95) |
(52.24) |
(52.54) |
|
Return On Capital
Employed |
(162.95) |
(52.24) |
(52.54) |
|
Return On
Shareholders' Funds/Equity |
(115.91) |
(46.51) |
(47.87) |
|
Dividend Pay Out
Ratio (Times) |
0 |
0 |
0 |
|
NOTES TO
ACCOUNTS |
|
|
|
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.01 |
|
|
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.