|
Report No. : |
336613 |
|
Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
CARGILL INTERNATIONAL TRADING PTE LTD |
|
|
|
|
Formerly Known As : |
CARGILL COMMODITY TRADING PTE. LTD. |
|
|
|
|
Registered Office : |
300, Beach Road, 23-01, The Concourse, 199555 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.05.2014 |
|
|
|
|
Date of Incorporation : |
05.12.1967 |
|
|
|
|
Com. Reg. No.: |
196700442-D |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in trading of petroleum, edible oil and cocoa |
|
|
|
|
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 : |
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. |
: |
196700442-D |
|
COMPANY NAME |
: |
CARGILL
INTERNATIONAL TRADING PTE LTD |
|
FORMER NAME |
: |
CARGILL COMMODITY
TRADING PTE. LTD. (29/07/1993) |
|
INCORPORATION
DATE |
: |
05/12/1967 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
300, BEACH ROAD,
23-01, THE CONCOURSE, 199555, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
300, BEACH ROAD, 23-01,
THE CONCOURSE, 199555, SINGAPORE. |
|
TEL.NO. |
: |
65-62951112 |
|
FAX.NO. |
: |
65-63938898 |
|
WEB SITE |
: |
WWW.CARGILL.COM |
|
CONTACT PERSON |
: |
SYED MUNIR-UL
HASAN ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING OF PETROLEUM,
EDIBLE OIL AND COCOA |
|
ISSUED AND PAID
UP CAPITAL |
: |
1,650,000.00
ORDINARY SHARE, OF A VALUE OF SGD 1,650,000.00 |
|
SALES |
: |
USD
13,784,028,000 [2014] |
|
NET WORTH |
: |
USD 28,035,000
[2014] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL
CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE 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) trading of
petroleum, edible oil and cocoa.
The immediate holding company of the Subject is CARGILL ASIA PACIFIC
HOLDINGS PTE. LTD., a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue &
Paid Up Capital |
|
04/12/2014 |
SGD 1,650,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CARGILL ASIA
PACIFIC HOLDINGS PTE. LTD. |
300, BEACH ROAD ,
23-01, THE CONCOURSE, 199555, SINGAPORE. |
200401312G |
1,650,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,650,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
201203900K |
SINGAPORE |
CARGILL
ENTERPRISES PTE. LTD. |
100.00 |
26/11/2014 |
|
200506905Z |
SINGAPORE |
CARGILL
OCEANTRANSPORTATION (SINGAPORE) PTE. LTD. |
100.00 |
18/03/2015 |
|
200106030W |
SINGAPORE |
CARGILL DONGGUAN
HOLDINGS PTE. LTD. |
100.00 |
26/11/2014 |
DIRECTOR 1
|
Name Of Subject |
: |
TA YOKE PENG |
|
Address |
: |
22, EWE BOON
ROAD, 03-08, PALM SPRING, 259328, SINGAPORE. |
|
IC / PP No |
: |
S2557457E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
22/10/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
SYED MUNIRUL
HASAN |
|
Address |
: |
30, HOLLAND
GREEN, 276153, SINGAPORE. |
|
IC / PP No |
: |
S2715581B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
21/04/1994 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. RICHARD IAN
NIELD |
|
Address |
: |
1, LEYDEN HILL,
DUNEARN ROAD HOSTELS, 298749, SINGAPORE. |
|
IC / PP No |
: |
F2571191L |
|
Nationality |
: |
BRITISH |
|
Date of
Appointment |
: |
17/06/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
SYED MUNIR-UL
HASAN |
|
Position |
: |
DIRECTOR |
|
|
|
AUDITOR
|
|
Auditor |
: |
KPMG LLP |
|
Auditor' Address |
: |
N/A |
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
KAREN LING GEOK
BEE |
|
IC / PP No |
: |
S7123372C |
|
|
Address |
: |
263, BISHAN
STREET, 22, 22-265, 570263, 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 against the Subject whether the
subject has been involved in any litigation.
|
LEGAL
ACTION |
|
||||||||||||
|
|||||||||||||
|
Code No |
: |
99 |
Case No |
: |
1061 |
||||||||
|
Year |
: |
2014 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
SUPREME COURT |
|||||||||||
|
Date Filed |
: |
08/10/2014 |
|||||||||||
|
Solicitor |
: |
BAZUL ASHHAB BIN
ABDUL KADER |
|||||||||||
|
Solicitor Ref |
: |
201406416KY- |
|||||||||||
|
Solicitor Firm |
: |
OON & BAZUL
LLP |
|||||||||||
|
Plaintiff |
: |
ESSAR SHIPPING
LIMITED |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Remark |
: |
CARRIAGE OF GOODS
BY AIR/SEANUNPRESENTED |
|||||||||||
|
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 |
[ |
] |
|||||||||
|
Local |
: |
YES |
Percentage |
: |
70% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
Percentage |
: |
30% |
|
Export Market |
: |
ASIA PACIFIC |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
PETROLEUM, EDIBLE
OIL AND COCOA |
|
|
Total Number of
Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
|||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
400 |
400 |
115 |
120 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of petroleum,
edible oil and cocoa.
The Subject is under the Cargill Group of Companies.
The Sunject engaged in trading of commodity product including food product,
household product etc.
The Group is producers and marketers of food, agricultural, financial and
industrial products and services.
24 November 2014
Cargill’s ocean transportation business has been awarded the 2014 International
Bulk Journal (IBJ) Customer Care award on November 10th, making it the first
dry bulk shipping company to win this award.
Latest fresh investigations carried out on
the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
N/A |
|
Current Telephone
Number |
: |
65-62951112 |
|
Match |
: |
N/A |
|
Address Provided
by Client |
: |
300, BEACH ROAD,
23-01, THE CONCOURSE,199555,SINGAPORE |
|
Current Address |
: |
300, BEACH ROAD,
23-01, THE CONCOURSE, 199555, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information on the Subject.
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 |
[ |
(44.45%) |
] |
|
|
Return on Net
Assets |
: |
Unfavourable |
[ |
(34.15%) |
] |
|
|
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 |
: |
Favourable |
[ |
10 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
19 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
The Subject's stocks
were moving fast thus reducing its holding cost. This had reduced funds being
tied up in 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 |
: |
Unfavourable |
[ |
0.75 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.98 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 |
[ |
(2.84 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject incurred
losses in the year. It did not generate sufficient income to service its
interest. If the situation does not improve, the Subject may be
vulnerable to default in servicing the interest. The Subject had no gearing
and hence it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
The Subject's
losses increased but its turnover showed a fluctuating trend. This
indicate the Subject was slowly losing its market share due to its competitors.
Due to its weak liquidity position, the Subject will be faced with problems
in meeting all its short term obligations if no short term loan is obtained
or additional capital injected into the Subject. The Subject's interest cover
was negative, indicating that it did not generate sufficient income to
service its interest. If its result does not show impressive improvements or
succeed obtaining short term financing or capital injection, it may not be
able to service its interest and repay the loans. The Subject was a zero
gearing company, it was solely dependant on its shareholders to provide funds
to finance its business. The Subject has good chance of getting loans, if the
needs arises. |
||||||
|
Overall financial
condition of the Subject : LIMITED |
||||||
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 : |
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. |
|
Financial Year
End |
2014-05-31 |
2013-05-31 |
2012-05-31 |
2011-05-31 |
2010-05-31 |
|
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 |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
13,784,028,000 |
12,527,999,000 |
14,085,379,000 |
12,018,284,000 |
8,298,276,000 |
|
Other Income |
18,735,000 |
20,024,000 |
12,848,000 |
21,339,000 |
47,162,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
13,802,763,000 |
12,548,023,000 |
14,098,227,000 |
12,039,623,000 |
8,345,438,000 |
|
Costs of Goods
Sold |
(13,755,129,000) |
(12,372,728,000) |
(14,036,402,000) |
(11,877,447,000) |
(8,209,180,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
47,634,000 |
175,295,000 |
61,825,000 |
162,176,000 |
136,258,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(13,714,000) |
92,977,000 |
12,274,000 |
89,733,000 |
81,516,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(13,714,000) |
92,977,000 |
12,274,000 |
89,733,000 |
81,516,000 |
|
Taxation |
1,252,000 |
(5,744,000) |
(3,913,000) |
(1,788,000) |
(2,581,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(12,462,000) |
87,233,000 |
8,361,000 |
87,945,000 |
78,935,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously
reported |
84,125,000 |
55,093,000 |
479,732,000 |
403,287,000 |
414,352,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
84,125,000 |
55,093,000 |
479,732,000 |
403,287,000 |
414,352,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE
FOR APPROPRIATIONS |
71,663,000 |
142,326,000 |
488,093,000 |
491,232,000 |
493,287,000 |
|
DIVIDENDS -
Ordinary (paid & proposed) |
(40,000,000) |
(58,201,000) |
(433,000,000) |
(11,500,000) |
(90,000,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
31,663,000 |
84,125,000 |
55,093,000 |
479,732,000 |
403,287,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
3,568,000 |
3,370,000 |
3,369,000 |
1,895,000 |
1,178,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,568,000 |
3,370,000 |
3,369,000 |
1,895,000 |
1,178,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as
per notes to P&L) |
941,000 |
877,000 |
890,000 |
905,000 |
920,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
941,000 |
877,000 |
890,000 |
905,000 |
920,000 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
ASSETS
EMPLOYED: |
|||||
|
FIXED ASSETS |
1,468,000 |
1,342,000 |
1,653,000 |
2,059,000 |
2,024,000 |
|
LONG TERM
INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary
companies |
61,244,000 |
61,244,000 |
1,352,000 |
1,272,000 |
1,244,000 |
|
Loans &
advances - non-current |
- |
- |
- |
- |
1,954,000 |
|
Deferred assets |
1,842,000 |
233,000 |
- |
- |
210,000 |
|
Others |
1,860,000 |
459,000 |
21,165,000 |
22,390,000 |
20,000,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
64,946,000 |
61,936,000 |
22,517,000 |
23,662,000 |
23,408,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
ASSETS |
66,414,000 |
63,278,000 |
24,170,000 |
25,721,000 |
25,432,000 |
|
Short term
quoted/unquoted investments |
97,000 |
97,000 |
97,000 |
2,579,000 |
3,749,000 |
|
Stocks |
366,993,000 |
277,729,000 |
373,016,000 |
260,364,000 |
184,649,000 |
|
Trade debtors |
734,872,000 |
404,437,000 |
351,641,000 |
499,065,000 |
219,445,000 |
|
Other debtors,
deposits & prepayments |
145,495,000 |
52,425,000 |
780,022,000 |
58,379,000 |
671,581,000 |
|
Amount due from
holding company |
1,536,000 |
29,998,000 |
10,846,000 |
13,876,000 |
- |
|
Amount due from
subsidiary companies |
674,000 |
414,000 |
414,000 |
573,000 |
- |
|
Amount due from
related companies |
94,743,000 |
280,030,000 |
134,907,000 |
270,256,000 |
- |
|
Cash & bank
balances |
314,000 |
99,000 |
127,000 |
197,000 |
1,286,000 |
|
Others |
245,058,000 |
278,661,000 |
- |
657,476,000 |
38,828,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
ASSETS |
1,589,782,000 |
1,323,890,000 |
1,651,070,000 |
1,762,765,000 |
1,119,538,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,656,196,000 |
1,387,168,000 |
1,675,240,000 |
1,788,486,000 |
1,144,970,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
289,536,000 |
192,473,000 |
231,450,000 |
287,773,000 |
117,357,000 |
|
Other creditors
& accruals |
335,525,000 |
407,460,000 |
722,583,000 |
500,773,000 |
602,256,000 |
|
Other liabilities
& accruals |
591,304,000 |
526,705,000 |
328,658,000 |
- |
- |
|
Amounts owing to holding
company |
9,174,000 |
1,406,000 |
5,123,000 |
2,796,000 |
- |
|
Amounts owing to
subsidiary companies |
7,542,000 |
2,353,000 |
2,273,000 |
765,000 |
- |
|
Amounts owing to
related companies |
136,241,000 |
131,053,000 |
243,722,000 |
140,404,000 |
- |
|
Provision for
taxation |
- |
3,754,000 |
2,384,000 |
3,258,000 |
2,325,000 |
|
Other liabilities |
257,161,000 |
34,457,000 |
62,449,000 |
327,592,000 |
3,689,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
1,626,483,000 |
1,299,661,000 |
1,598,642,000 |
1,263,361,000 |
725,627,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(36,701,000) |
24,229,000 |
52,428,000 |
499,404,000 |
393,911,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
29,713,000 |
87,507,000 |
76,598,000 |
525,125,000 |
419,343,000 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share
capital |
767,000 |
767,000 |
767,000 |
767,000 |
767,000 |
|
Preference share
capital |
- |
- |
6,909,000 |
6,909,000 |
6,909,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE
CAPITAL |
767,000 |
767,000 |
7,676,000 |
7,676,000 |
7,676,000 |
|
Capital reserve |
(4,890,000) |
(4,890,000) |
- |
- |
- |
|
Retained
profit/(loss) carried forward |
31,663,000 |
84,125,000 |
55,093,000 |
479,732,000 |
403,287,000 |
|
Capital
redemption reserve |
133,000 |
(461,000) |
- |
- |
- |
|
Others |
362,000 |
1,150,000 |
2,091,000 |
5,179,000 |
(56,000) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
27,268,000 |
79,924,000 |
57,184,000 |
484,911,000 |
403,231,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
28,035,000 |
80,691,000 |
64,860,000 |
492,587,000 |
410,907,000 |
|
Deferred taxation |
- |
- |
260,000 |
10,000 |
- |
|
Others |
1,678,000 |
6,816,000 |
11,478,000 |
32,528,000 |
8,436,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
LIABILITIES |
1,678,000 |
6,816,000 |
11,738,000 |
32,538,000 |
8,436,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
29,713,000 |
87,507,000 |
76,598,000 |
525,125,000 |
419,343,000 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
TYPES
OF FUNDS |
|||||
|
Cash |
314,000 |
99,000 |
127,000 |
197,000 |
1,286,000 |
|
Net
Liquid Funds |
314,000 |
99,000 |
127,000 |
197,000 |
1,286,000 |
|
Net
Liquid Assets |
(403,694,000) |
(253,500,000) |
(320,588,000) |
239,040,000 |
209,262,000 |
|
Net
Current Assets/(Liabilities) |
(36,701,000) |
24,229,000 |
52,428,000 |
499,404,000 |
393,911,000 |
|
Net
Tangible Assets |
29,713,000 |
87,507,000 |
76,598,000 |
525,125,000 |
419,343,000 |
|
Net
Monetary Assets |
(405,372,000) |
(260,316,000) |
(332,326,000) |
206,502,000 |
200,826,000 |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
(10,146,000) |
96,347,000 |
15,643,000 |
91,628,000 |
82,694,000 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(9,205,000) |
97,224,000 |
16,533,000 |
92,533,000 |
83,614,000 |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
0 |
0 |
0 |
0 |
0 |
|
Total
Liabilities |
1,628,161,000 |
1,306,477,000 |
1,610,380,000 |
1,295,899,000 |
734,063,000 |
|
Total
Assets |
1,656,196,000 |
1,387,168,000 |
1,675,240,000 |
1,788,486,000 |
1,144,970,000 |
|
Net
Assets |
29,713,000 |
87,507,000 |
76,598,000 |
525,125,000 |
419,343,000 |
|
Net
Assets Backing |
28,035,000 |
80,691,000 |
64,860,000 |
492,587,000 |
410,907,000 |
|
Shareholders'
Funds |
28,035,000 |
80,691,000 |
64,860,000 |
492,587,000 |
410,907,000 |
|
Total
Share Capital |
767,000 |
767,000 |
7,676,000 |
7,676,000 |
7,676,000 |
|
Total
Reserves |
27,268,000 |
79,924,000 |
57,184,000 |
484,911,000 |
403,231,000 |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liquid
Ratio |
0.75 |
0.80 |
0.80 |
1.19 |
1.29 |
|
Current
Ratio |
0.98 |
1.02 |
1.03 |
1.40 |
1.54 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
10 |
8 |
10 |
8 |
8 |
|
Debtors
Ratio |
19 |
12 |
9 |
15 |
10 |
|
Creditors
Ratio |
8 |
6 |
6 |
9 |
5 |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0 |
0 |
0 |
0 |
0 |
|
Liabilities
Ratio |
58.08 |
16.19 |
24.83 |
2.63 |
1.79 |
|
Times
Interest Earned Ratio |
(2.84) |
28.59 |
4.64 |
48.35 |
70.20 |
|
Assets
Backing Ratio |
38.74 |
114.09 |
9.98 |
68.41 |
54.63 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
(0.10) |
0.74 |
0.09 |
0.75 |
0.98 |
|
Net
Profit Margin |
(0.09) |
0.70 |
0.06 |
0.73 |
0.95 |
|
Return
On Net Assets |
(34.15) |
110.10 |
20.42 |
17.45 |
19.72 |
|
Return
On Capital Employed |
(34.15) |
110.10 |
20.42 |
17.45 |
19.72 |
|
Return
On Shareholders' Funds/Equity |
(44.45) |
108.11 |
12.89 |
17.85 |
19.21 |
|
Dividend
Pay Out Ratio (Times) |
3.21 |
0.67 |
51.79 |
0.13 |
1.14 |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.92 |
|
|
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.