|
Report No. : |
334980 |
|
Report Date : |
10.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
MENLON AGENCY PTE LTD |
|
|
|
|
Formerly Known As : |
MENLON AGENCY & TRADING PTE. LTD |
|
|
|
|
Registered Office : |
8, Pandan Crescent, 02-05, 128464 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
10.08.1989 |
|
|
|
|
Com. Reg. No.: |
198903293-R |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Subject is engaged in trading of stationery products |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
198903293-R |
|
COMPANY NAME |
: |
MENLON AGENCY
PTE LTD |
|
FORMER NAME |
: |
MENLON AGENCY
& TRADING PTE. LTD. (11/02/1998) |
|
INCORPORATION
DATE |
: |
10/08/1989 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
|
LISTED STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
8, PANDAN
CRESCENT, 02-05, 128464, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
8, PANDAN
CRESCENT, 02-05, UE TECH PARK, 128464, SINGAPORE. |
|
TEL.NO. |
: |
65-62783322 |
|
FAX.NO. |
: |
65-62787979 |
|
WEB SITE |
: |
WWW.MENLON.COM |
|
CONTACT PERSON |
: |
GOH SIN MIN (
MANAGING DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING OF
STATIONERY PRODUCTS |
|
ISSUED AND PAID
UP CAPITAL |
: |
1,200,000.00
ORDINARY SHARE, OF A VALUE OF SGD 1,200,000.00 |
|
SALES |
: |
SGD 9,084,295
[2014] |
|
NET WORTH |
: |
SGD 980,564
[2014] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
FAIR |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
HISTORY
/ BACKGROUND
|
The Subject is an exempt private company whose shares are not held by
any corporate body and has no more than 20 shareholders who are all natural
persons. An exempt company is a type of private limited company. 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,
suing or be sued by other companies. An exempt private company with an annual
turnover of less than SGD5 million are exempted from statutory auditing
requirements. Instead of filing audited annual accounts, the Subject has to
file in a document duly signed by its director in charge of its finance and the
company secretary stating that the Subject is able to meet all its obligations as
and when they fall due. The Subject is not required to have their accounts
audited. However, the Subject will prepare unaudited accounts for purposes of
AGMs and filing with Registry Office if it is unable to meet all its
obligations as and when they fall due .
The Subject is principally engaged in the (as a / as an) trading of
stationery products.
Share Capital History
|
Date |
Issue &
Paid Up Capital |
|
03/08/2015 |
SGD 1,200,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
GOH SIN MIN |
66, KISMIS
AVENUE, CHENG SOON GARDEN, 598243, SINGAPORE. |
S0129106H |
760,000.00 |
63.33 |
|
CHEN CHENG-SUNG |
380, CHUNG HUA ROAD
TOU LIOU, YUNLIN HSIEN, TAIWAN. |
301191865 |
300,000.00 |
25.00 |
|
LEE SOI CHAN |
66, KISMIS
AVENUE, CHENG SOON GARDEN, 598243, SINGAPORE. |
S0154549C |
120,000.00 |
10.00 |
|
KEK WEE HIANG |
8, KIM TIAN
PLACE, 06-57, 163008, SINGAPORE. |
S0924346A |
20,000.00 |
1.67 |
|
--------------- |
------ |
|||
|
1,200,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
LEE SOI CHAN |
|
Address |
: |
66, KISMIS AVENUE,
CHENG SOON GARDEN, 598243, SINGAPORE. |
|
IC / PP No |
: |
S0154549C |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
04/03/1992 |
DIRECTOR 2
|
Name Of Subject |
: |
GOH SIN MIN |
|
Address |
: |
66, KISMIS
AVENUE, CHENG SOON GARDEN, 598243, SINGAPORE. |
|
IC / PP No |
: |
S0129106H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
10/08/1989 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
GOH SIN MIN |
|
Position |
: |
MANAGING DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
CHEW WHYE LEE
& CO |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY SECRETARIES
|
|
1) |
Company Secretary |
: |
NG SIEW HUNG |
|
IC / PP No |
: |
S1166191B |
|
|
Address |
: |
7, JURONG EAST
STREET, 32, 07-08, THE MAYFAIR, 609480, 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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
X |
] |
Poor >120 Days |
[ |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
STATIONERY PRODUCTS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of stationery
products.
The Subject is engaged in the trading of home and office stationery.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
N/A |
|
Current Telephone
Number |
: |
65-62783322 |
|
Match |
: |
N/A |
|
Address Provided
by Client |
: |
BLOCK -8 PANDAN
,CRESCENT, HEX 02-05 UE TECH PARK, SINGAPORE |
|
Current Address |
: |
8, PANDAN
CRESCENT, 02-05, UE TECH PARK, 128464, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address provided is incomplete.
The Subject refused to disclose its number of employees and bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on
Shareholder Funds |
: |
Unfavourable |
[ |
(72.45%) |
] |
|
|
Return on Net
Assets |
: |
Unfavourable |
[ |
(64.07%) |
] |
|
|
The fluctuating
turnover reflects the fierce competition among the existing and new market players.The
Subject incurred losses during the year due to the inefficient control of its
operating costs. 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 |
: |
Unfavourable |
[ |
124 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
109 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
The Subject could
be incurring higher holding cost. As its capital was tied up in stocks, it
could face liquidity problems. 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 |
[ |
0.57 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.12 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 |
[ |
(6.69 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
3.49 Times |
] |
|
|
The Subject
incurred losses in the year. It did not generate sufficient income to service
its interest. If the situation does not improve, the Subject may be
vulnerable to default in servicing the interest. The Subject was highly
geared, thus it had a high financial risk. The Subject was dependent on loans
to finance its business needs. In times of economic downturn and / or high
interest rate, the Subject will become less profitable and competitive than
other firms in the same industry, which are lowly geared. This is because the
Subject has to service the interest and to repay the loan, which will erode part
of its profits. The profits will fluctuate depending on the Subject's
turnover and the interest it needs to pay. |
||||||
|
Overall
Assessment : |
||||||
|
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's
gearing level was high and its going concern will be in doubt if there is no
injection of additional shareholders' funds in times of economic downturn and
/ or high interest rates. |
||||||
|
Overall
financial condition of the Subject : POOR |
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic
Indicators : |
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. |
|
MENLON AGENCY
PTE LTD |
|
Financial Year
End |
2014-06-30 |
2013-06-30 |
2012-06-30 |
2011-06-30 |
2010-06-30 |
|
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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
9,084,295 |
9,594,607 |
9,239,921 |
9,258,669 |
8,382,789 |
|
Other Income |
345,863 |
226,533 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
9,430,158 |
9,821,140 |
9,239,921 |
9,258,669 |
8,382,789 |
|
Costs of Goods
Sold |
(6,680,034) |
(6,825,888) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
2,750,124 |
2,995,252 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(744,102) |
149,761 |
124,486 |
119,534 |
113,282 |
|
SHARE OF
PROFITS/(LOSSES) OF ASSOCIATED COMPANIES |
21,906 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(722,196) |
149,761 |
124,486 |
119,534 |
113,282 |
|
Taxation |
11,768 |
(11,361) |
(1,640) |
(17,139) |
(20,705) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(710,428) |
138,400 |
122,846 |
102,395 |
92,577 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously
reported |
490,992 |
352,592 |
229,746 |
127,351 |
34,774 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
490,992 |
352,592 |
229,746 |
127,351 |
34,774 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE
FOR APPROPRIATIONS |
(219,436) |
490,992 |
352,592 |
229,746 |
127,351 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(219,436) |
490,992 |
352,592 |
229,746 |
127,351 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
18,777 |
14,097 |
- |
- |
- |
|
Lease interest |
3,146 |
2,784 |
- |
- |
- |
|
Term loan /
Borrowing |
18,770 |
10,513 |
- |
- |
- |
|
Others |
53,215 |
61,045 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
93,908 |
88,439 |
- |
- |
- |
|
|
============= |
============= |
- |
- |
- |
|
|
DEPRECIATION (as
per notes to P&L) |
69,431 |
64,875 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
69,431 |
64,875 |
- |
- |
- |
|
|
============= |
============= |
BALANCE
SHEET
|
|
MENLON AGENCY PTE LTD |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED ASSETS |
176,193 |
148,661 |
285,585 |
363,641 |
445,368 |
|
Associated
companies |
152,043 |
130,137 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
152,043 |
130,137 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
ASSETS |
328,236 |
278,798 |
285,585 |
363,641 |
445,368 |
|
Stocks |
3,074,676 |
3,381,384 |
- |
- |
- |
|
Trade debtors |
2,708,297 |
3,189,535 |
- |
- |
- |
|
Other debtors,
deposits & prepayments |
264,748 |
236,682 |
- |
- |
- |
|
Cash & bank balances |
193,262 |
282,161 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
ASSETS |
6,240,983 |
7,089,762 |
5,810,269 |
5,542,773 |
5,481,112 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
6,569,219 |
7,368,560 |
6,095,854 |
5,906,414 |
5,926,480 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
1,306,971 |
846,085 |
- |
- |
- |
|
Other creditors
& accruals |
271,805 |
225,268 |
- |
- |
- |
|
Hire purchase
& lease creditors |
- |
18,384 |
- |
- |
- |
|
Bank overdraft |
352,318 |
352,463 |
- |
- |
- |
|
Short term
borrowings/Term loans |
67,215 |
128,662 |
- |
- |
- |
|
Other borrowings |
715,752 |
798,112 |
- |
- |
- |
|
Bill &
acceptances payable |
2,287,023 |
2,634,479 |
- |
- |
- |
|
Amounts owing to
director |
587,571 |
637,571 |
- |
- |
- |
|
Provision for
taxation |
- |
22,330 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
5,588,655 |
5,663,354 |
4,372,487 |
4,284,194 |
4,349,620 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
652,328 |
1,426,408 |
1,437,782 |
1,258,579 |
1,131,492 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
980,564 |
1,705,206 |
1,723,367 |
1,622,220 |
1,576,860 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share
capital |
1,200,000 |
1,200,000 |
1,200,000 |
1,200,000 |
1,200,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE
CAPITAL |
1,200,000 |
1,200,000 |
1,200,000 |
1,200,000 |
1,200,000 |
|
Retained
profit/(loss) carried forward |
(219,436) |
490,992 |
352,592 |
229,746 |
127,351 |
|
Others |
- |
- |
- |
120,000 |
120,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(219,436) |
490,992 |
352,592 |
349,746 |
247,351 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
980,564 |
1,690,992 |
1,552,592 |
1,549,746 |
1,447,351 |
|
Lease obligations |
- |
4,676 |
- |
- |
- |
|
Deferred taxation |
- |
9,538 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
LIABILITIES |
- |
14,214 |
170,775 |
72,474 |
129,509 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
980,564 |
1,705,206 |
1,723,367 |
1,622,220 |
1,576,860 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
MENLON AGENCY
PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
193,262 |
282,161 |
- |
- |
- |
|
Net Liquid Funds |
(2,446,079) |
(2,704,781) |
- |
- |
- |
|
Net Liquid Assets |
(2,422,348) |
(1,954,976) |
1,437,782 |
1,258,579 |
1,131,492 |
|
Net Current
Assets/(Liabilities) |
652,328 |
1,426,408 |
1,437,782 |
1,258,579 |
1,131,492 |
|
Net Tangible
Assets |
980,564 |
1,705,206 |
1,723,367 |
1,622,220 |
1,576,860 |
|
Net Monetary
Assets |
(2,422,348) |
(1,969,190) |
1,267,007 |
1,186,105 |
1,001,983 |
|
PROFIT &
LOSS ITEMS |
|||||
|
Earnings Before
Interest & Tax (EBIT) |
(628,288) |
238,200 |
- |
- |
- |
|
Earnings Before
Interest, Taxes, Depreciation And Amortization (EBITDA) |
(558,857) |
303,075 |
- |
- |
- |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
3,422,308 |
3,936,776 |
- |
- |
- |
|
Total Liabilities |
5,588,655 |
5,677,568 |
4,543,262 |
4,356,668 |
4,479,129 |
|
Total Assets |
6,569,219 |
7,368,560 |
6,095,854 |
5,906,414 |
5,926,480 |
|
Net Assets |
980,564 |
1,705,206 |
1,723,367 |
1,622,220 |
1,576,860 |
|
Net Assets
Backing |
980,564 |
1,690,992 |
1,552,592 |
1,549,746 |
1,447,351 |
|
Shareholders'
Funds |
980,564 |
1,690,992 |
1,552,592 |
1,549,746 |
1,447,351 |
|
Total Share
Capital |
1,200,000 |
1,200,000 |
1,200,000 |
1,200,000 |
1,200,000 |
|
Total Reserves |
(219,436) |
490,992 |
352,592 |
349,746 |
247,351 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.03 |
0.05 |
- |
- |
- |
|
Liquid Ratio |
0.57 |
0.65 |
- |
- |
- |
|
Current Ratio |
1.12 |
1.25 |
1.33 |
1.29 |
1.26 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
124 |
129 |
- |
- |
- |
|
Debtors Ratio |
109 |
121 |
- |
- |
- |
|
Creditors Ratio |
71 |
45 |
- |
- |
- |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing Ratio |
3.49 |
2.33 |
- |
- |
- |
|
Liabilities Ratio |
5.70 |
3.36 |
2.93 |
2.81 |
3.09 |
|
Times Interest
Earned Ratio |
(6.69) |
2.69 |
- |
- |
- |
|
Assets Backing
Ratio |
0.82 |
1.42 |
1.44 |
1.35 |
1.31 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit
Margin |
(7.95) |
1.56 |
1.35 |
1.29 |
1.35 |
|
Net Profit Margin |
(7.82) |
1.44 |
1.33 |
1.11 |
1.10 |
|
Return On Net
Assets |
(64.07) |
13.97 |
7.22 |
7.37 |
7.18 |
|
Return On Capital
Employed |
(47.14) |
11.47 |
7.22 |
7.37 |
7.18 |
|
Return On
Shareholders' Funds/Equity |
(72.45) |
8.18 |
7.91 |
6.61 |
6.40 |
|
Dividend Pay Out
Ratio (Times) |
0 |
0 |
- |
- |
- |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
|
UK Pound |
1 |
Rs.98.93 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
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.