|
Report No. : |
334929 |
|
Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
INTER-UNITED ENTERPRISES PTE LTD |
|
|
|
|
Formerly Known As : |
INTER-UNITED TRADING ENTERPRISES PTE LTD |
|
|
|
|
Registered Office : |
143, Cecil Street, 10-00, Gb Building, 069542 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
31.12.1991 |
|
|
|
|
Com. Reg. No.: |
199106505-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in trading of palm oil |
|
|
|
|
No. of Employee : |
10 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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. |
: |
199106505-M |
||||
|
COMPANY
NAME |
: |
INTER-UNITED ENTERPRISES PTE LTD |
||||
|
FORMER
NAME |
: |
INTER-UNITED
TRADING ENTERPRISES PTE LTD (07/11/1996) |
||||
|
INCORPORATION
DATE |
: |
31/12/1991 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
143,
CECIL STREET, 10-00, GB BUILDING, 069542, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
7
TEMASEK BLVD #27-02 SUNTEC TOWER 1, 038987, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63321566 |
||||
|
FAX.NO. |
: |
65-63321077 |
||||
|
CONTACT
PERSON |
: |
PARASUANG
TEMPROM ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF PALM OIL |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
2,000,000.00
ORDINARY SHARE, OF A VALUE OF SGD 2,000,000.00 |
||||
|
SALES |
: |
USD
198,130,526 [2013] |
||||
|
NET
WORTH |
: |
USD
6,576,760 [2013] |
||||
|
STAFF
STRENGTH |
: |
10
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
FAIR |
||||
|
PAYMENT |
: |
GOOD |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
||||
HISTORY
/ BACKGROUND
|
The
Subject is a private limited company and is allowed to have a minimum of one and
a maximum of forty-nine shareholders. As a private limited company, the Subject
must have at least two directors. A private limited company is a separate legal
entity from its shareholders. As a separate legal entity, the Subject is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the Subject is insolvent. The Subject is governed by the
Companies Act and the company must file its annual returns, together with its
financial statements with the Registrar of Companies.
The
Subject is principally engaged in the (as a / as an) trading of palm oil.
The
immediate holding company of the Subject is LAGUNA UNITED LIMITED, a company
incorporated in VIRGIN ISLANDS, BRITISH.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
03/08/2015 |
SGD
2,000,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
LAGUNA
UNITED LIMITED |
VANTERPOOL
PLAZA, WICKHAMS CAY I, P.O. BOX 873, ROAD TOWN, TORTOLA, 2ND FLOOR, VIRGIN ISLANDS,
BRITISH. |
T06UF0001 |
2,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
2,000,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
PARASUANG
TEMPROM |
|
Address |
: |
1/2,
MOO 2, BANGNA-TRAD ROAD, BANGWUA, BANGPAKONG, CHACHOENGSAO, 24180, THAILAND. |
|
IC
/ PP No |
: |
C851243 |
|
Nationality |
: |
THAI |
|
Date
of Appointment |
: |
06/05/2010 |
DIRECTOR
2
|
Name
Of Subject |
: |
TAY
CHAY HOON |
|
Address |
: |
7,
PEMIMPIN DRIVE, 15-02, SEASONS VIEW, 576150, SINGAPORE. |
|
IC
/ PP No |
: |
S1523963H |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
30/09/2003 |
MANAGEMENT
|
|
1) |
Name
of Subject |
: |
PARASUANG
TEMPROM |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
INFINITY
ASSURANCE LLP |
|
Auditor'
Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company
Secretary |
: |
SERENE
SIA YING LIN |
|
IC
/ PP No |
: |
S8521702Z |
|
|
Address |
: |
33,
AMBER ROAD, 17-10, THE SEA VIEW, 439944, SINGAPORE. |
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
PT
BANK MANDIRI (PERSERO) TBK |
|
2) |
Name |
: |
UNITED
OVERSEAS BANK LIMITED |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C200701808 |
07/03/2007 |
N/A |
PT
BANK MANDIRI (PERSERO) TBK |
- |
Unsatisfied |
|
C200701809 |
07/03/2007 |
N/A |
PT
BANK MANDIRI (PERSERO) TBK |
- |
Unsatisfied |
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 Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
X |
] |
Average
61-90 Days |
[ |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
PALM
OIL |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
10 |
10 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of palm
oil.
The Subject refused to disclose its operation.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-63321566 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
7
TEMASEK BOULEVARD #27-02 SUNTEC TOWER ONE SINGAPORE, 038987 |
|
Current
Address |
: |
7
TEMASEK BLVD #27-02 SUNTEC TOWER 1, 038987, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2009
- 2013 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2009
- 2013 |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
54.11% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
81.83% |
] |
|
|
The
continuous fall in turnover could be due to the lower demand for the Subject's
products / services.The Subject's management have been efficient in
controlling its operating costs. Generally the Subject was profitable. The
favourable return on shareholders' funds and return on net assets indicate
that the Subject's management was efficient in utilising the assets to
generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
8
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
1
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 |
: |
Favourable |
[ |
1.22
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.22
Times |
] |
|
|
A
minimum liquid ratio of 1 should be maintained by the Subject in order to assure
its creditors of its ability to meet short term obligations and the Subject
was in a good liquidity position. Thus, we believe the Subject is able to
meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Acceptable |
[ |
4.70
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
1.79
Times |
] |
|
|
The
Subject's interest cover was slightly low. If there is no sharp fall in its profit
or sudden increase in the interest rates, we believe the Subject is able to
generate sufficient income to service its interest and repay the loans. The
Subject was highly geared, thus it had a high financial risk. The Subject was
dependent on loans to finance its business needs. In times of economic
downturn and / or high interest rate, the Subject will become less profitable
and competitive than other firms in the same industry, which are lowly
geared. This is because the Subject has to service the interest and to repay
the loan, which will erode part of its profits. The profits will fluctuate
depending on the Subject's turnover and the interest it needs to pay. |
||||||
|
Overall
Assessment : |
||||||
|
Due
to the efficient control of its operating costs, the Subject was able to
remain profitable despite lower turnover achieved during the year. The
Subject was in good liquidity position with its total current liabilities
well covered by its total current assets. With its current net assets, the
Subject should be able to repay its short term obligations. The Subject had
an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the Subject's profit, we do believe the Subject is
able to generate sufficient cash flow to service its interest payment. The
Subject's gearing level was high and its going concern will be in doubt if
there is no injection of additional shareholders' funds in times of economic
downturn and / or high interest rates. |
||||||
|
Overall
financial condition of the Subject : FAIR |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major
Economic Indicators : |
2010 |
2011 |
2012 |
2013 |
2014 |
|
|
|
|
|||||
|
Population
(Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
|
|
Gross
Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
|
|
Consumer
Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
|
|
Total
Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
|
|
Total
Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
|
|
|
|
|||||
|
Unemployment
Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
|
|
Tourist
Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
|
|
Hotel
Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
|
|
Cellular
Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
|
|
|
|
|||||
|
Registration
of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
|
|
Registration
of New Companies (%) |
12.8 |
8.5 |
(1.3) |
9.8 |
11.5 |
|
|
Liquidation
of Companies (No.) |
15,126 |
19,005 |
17,218 |
17,369 |
18,767 |
|
|
Liquidation
of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
|
|
|
|
|||||
|
Registration
of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
|
|
Registration
of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
|
|
Liquidation
of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
|
|
Liquidation
of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
|
|
|
|
|||||
|
Bankruptcy
Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
|
|
Bankruptcy
Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
|
|
Bankruptcy
Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
|
|
Bankruptcy
Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
|
|
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|
|||||
|
Agriculture |
|
|||||
|
Production
of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
|
|
|
Fish
Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
|
|
|
|
|||||
|
Manufacturing
* |
92.8 |
100.0 |
100.3 |
102.0 |
|
|
|
Food,
Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
|
|
Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
|
|
Wearing
Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
|
|
Leather
Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
|
|
Wood
& Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
|
|
Paper
& Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
|
|
Printing
& Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
|
|
Crude
Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
|
|
Chemical
& Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
|
|
Pharmaceutical
Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
|
|
Rubber
& Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
|
|
Non-metallic
Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
|
|
Basic
Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
|
|
Fabricated
Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
|
|
Machinery
& Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
|
|
Electrical
Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
|
|
Electronic
Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
|
|
Transport
Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
|
|
|
|
|||||
|
Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
|
|
Real
Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
|
|
|
|
|||||
|
Services |
|
|||||
|
Electricity,
Gas & Water |
4.00 |
7.00 |
6.30 |
- |
|
|
|
Transport,
Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
|
|
Finance
& Insurance |
(0.4) |
8.90 |
0.50 |
- |
6.00 |
|
|
Government
Services |
9.70 |
6.90 |
6.00 |
- |
|
|
|
Education
Services |
(0.9) |
(1.4) |
0.30 |
- |
5.98 |
|
|
|
|
|||||
|
*
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. |
|
INTER-UNITED
ENTERPRISES PTE LTD |
|
Financial
Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
198,130,526 |
243,356,903 |
266,863,157 |
483,721,077 |
290,987,037 |
|
Other
Income |
855,920 |
867,839 |
1,171,873 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
198,986,446 |
244,224,742 |
268,035,030 |
483,721,077 |
290,987,037 |
|
Costs
of Goods Sold |
(150,712,195) |
(241,807,105) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
48,274,251 |
2,417,637 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
4,235,778 |
341,114 |
232,705 |
908,785 |
393,115 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
4,235,778 |
341,114 |
232,705 |
908,785 |
393,115 |
|
Taxation |
(677,000) |
(24,031) |
(59,657) |
(113,882) |
(77,523) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
3,558,778 |
317,083 |
173,048 |
794,902 |
315,592 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
1,666,674 |
1,349,591 |
1,198,995 |
671,889 |
356,297 |
|
Prior
year adjustment |
- |
- |
(22,452) |
(267,796) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
1,666,674 |
1,349,591 |
1,176,543 |
404,093 |
356,297 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
5,225,452 |
1,666,674 |
1,349,591 |
1,198,995 |
671,889 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
5,225,452 |
1,666,674 |
1,349,591 |
1,198,995 |
671,889 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Letter
of credit |
- |
- |
501,046 |
- |
- |
|
Trust
receipts |
125,109 |
- |
- |
- |
- |
|
Others |
1,020,921 |
1,237,554 |
386,853 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
1,146,030 |
1,237,554 |
887,899 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
|
DEPRECIATION
(as per notes to P&L) |
882 |
1,172 |
2,296 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
882 |
1,172 |
2,296 |
- |
- |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
INTER-UNITED
ENTERPRISES PTE LTD |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
2,645 |
- |
1,172 |
1,388 |
3,496 |
|
Deferred
assets |
2,186 |
2,186 |
1,279 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
2,186 |
2,186 |
1,279 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
4,831 |
2,186 |
2,451 |
1,388 |
3,496 |
|
Trade
debtors |
4,428,126 |
1,724,237 |
540,578 |
- |
- |
|
Other
debtors, deposits & prepayments |
597,572 |
671,272 |
485,451 |
- |
- |
|
Short
term deposits |
6,235,957 |
6,416,540 |
503,091 |
- |
- |
|
Amount
due from related companies |
19,836,930 |
4,272,661 |
26,619,971 |
- |
- |
|
Cash
& bank balances |
5,958,641 |
13,349,714 |
9,628,950 |
- |
- |
|
Others |
30,000 |
78,750 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
37,087,226 |
26,513,174 |
37,778,041 |
45,858,449 |
26,099,496 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
37,092,057 |
26,515,360 |
37,780,492 |
45,859,837 |
26,102,992 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
615,256 |
526,288 |
695,857 |
- |
- |
|
Other
creditors & accruals |
65,873 |
79,912 |
577,482 |
- |
- |
|
Other
borrowings |
11,794,775 |
6,770,625 |
- |
- |
- |
|
Amounts
owing to related companies |
16,887,375 |
15,707,879 |
9,310,137 |
- |
- |
|
Provision
for taxation |
677,000 |
24,938 |
132,367 |
- |
- |
|
Other
liabilities |
475,018 |
387,736 |
24,363,750 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
30,515,297 |
23,497,378 |
35,079,593 |
42,660,606 |
23,430,509 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
6,571,929 |
3,015,796 |
2,698,448 |
3,197,843 |
2,668,987 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
6,576,760 |
3,017,982 |
2,700,899 |
3,199,231 |
2,672,483 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
1,351,308 |
1,351,308 |
1,351,308 |
2,000,000 |
2,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
1,351,308 |
1,351,308 |
1,351,308 |
2,000,000 |
2,000,000 |
|
Retained
profit/(loss) carried forward |
5,225,452 |
1,666,674 |
1,349,591 |
1,198,995 |
671,889 |
|
Others |
- |
- |
- |
0 |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
5,225,452 |
1,666,674 |
1,349,591 |
1,198,995 |
671,889 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
6,576,760 |
3,017,982 |
2,700,899 |
3,198,995 |
2,671,889 |
|
TOTAL
LONG TERM LIABILITIES |
- |
- |
- |
235 |
594 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
6,576,760 |
3,017,982 |
2,700,899 |
3,199,231 |
2,672,483 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
INTER-UNITED
ENTERPRISES PTE LTD |
|
TYPES
OF FUNDS |
|||||
|
Cash |
12,194,598 |
19,766,254 |
10,132,041 |
- |
- |
|
Net
Liquid Funds |
12,194,598 |
19,766,254 |
10,132,041 |
- |
- |
|
Net
Liquid Assets |
6,571,929 |
3,015,796 |
2,698,448 |
3,197,843 |
2,668,987 |
|
Net
Current Assets/(Liabilities) |
6,571,929 |
3,015,796 |
2,698,448 |
3,197,843 |
2,668,987 |
|
Net
Tangible Assets |
6,576,760 |
3,017,982 |
2,700,899 |
3,199,231 |
2,672,483 |
|
Net
Monetary Assets |
6,571,929 |
3,015,796 |
2,698,448 |
3,197,608 |
2,668,393 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
5,381,808 |
1,578,668 |
1,120,604 |
- |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
5,382,690 |
1,579,840 |
1,122,900 |
- |
- |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
11,794,775 |
6,770,625 |
0 |
- |
- |
|
Total
Liabilities |
30,515,297 |
23,497,378 |
35,079,593 |
42,660,841 |
23,431,103 |
|
Total
Assets |
37,092,057 |
26,515,360 |
37,780,492 |
45,859,837 |
26,102,992 |
|
Net
Assets |
6,576,760 |
3,017,982 |
2,700,899 |
3,199,231 |
2,672,483 |
|
Net
Assets Backing |
6,576,760 |
3,017,982 |
2,700,899 |
3,198,996 |
2,671,889 |
|
Shareholders'
Funds |
6,576,760 |
3,017,982 |
2,700,899 |
3,198,995 |
2,671,889 |
|
Total
Share Capital |
1,351,308 |
1,351,308 |
1,351,308 |
2,000,000 |
2,000,000 |
|
Total
Reserves |
5,225,452 |
1,666,674 |
1,349,591 |
1,198,995 |
671,889 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.40 |
0.84 |
0.29 |
- |
- |
|
Liquid
Ratio |
1.22 |
1.13 |
1.08 |
- |
- |
|
Current
Ratio |
1.22 |
1.13 |
1.08 |
1.07 |
1.11 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
0 |
0 |
0 |
- |
- |
|
Debtors
Ratio |
8 |
3 |
1 |
- |
- |
|
Creditors
Ratio |
1 |
1 |
1 |
- |
- |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
1.79 |
2.24 |
0 |
- |
- |
|
Liabilities
Ratio |
4.64 |
7.79 |
12.99 |
13.34 |
8.77 |
|
Times
Interest Earned Ratio |
4.70 |
1.28 |
1.26 |
- |
- |
|
Assets
Backing Ratio |
4.87 |
2.23 |
2.00 |
1.60 |
1.34 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
2.14 |
0.14 |
0.09 |
0.19 |
0.14 |
|
Net
Profit Margin |
1.80 |
0.13 |
0.06 |
0.16 |
0.11 |
|
Return
On Net Assets |
81.83 |
52.31 |
41.49 |
28.41 |
14.71 |
|
Return
On Capital Employed |
81.83 |
52.31 |
41.49 |
28.41 |
14.71 |
|
Return
On Shareholders' Funds/Equity |
54.11 |
10.51 |
6.41 |
24.85 |
11.81 |
|
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.63.96 |
|
|
1 |
Rs.99.96 |
|
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.