|
Report No. : |
337091 |
|
Report Date : |
20.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ELECON SINGAPORE PTE LTD |
|
|
|
|
Registered Office : |
10, Anson Road, 24-03, International Plaza, 079903 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
21.07.2000 |
|
|
|
|
Com. Reg. No.: |
200006402-R |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the engineering on power generation and palm
oil. |
|
|
|
|
No. of Employees : |
4 [2015] |
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. |
: |
200006402-R |
|
COMPANY NAME |
: |
ELECON SINGAPORE PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
21/07/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
10, ANSON ROAD, 24-03, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
10, ANSON ROAD, 24-03, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
TEL.NO. |
: |
65-62278258 |
|
FAX.NO. |
: |
65-62278942 |
|
CONTACT PERSON |
: |
PRAYASVIN BHANUBHAI PATEL ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
ENGINEERING ON POWER GENERATION AND PALM OIL |
|
ISSUED AND PAID UP CAPITAL |
: |
897,854.00 ORDINARY SHARE, OF A VALUE OF SGD 897,854.00 |
|
SALES |
: |
SGD 1,437,798 [2014] |
|
NET WORTH |
: |
SGD 783,623 [2014] |
|
STAFF STRENGTH |
: |
4 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
SLOW BUT CORRECT |
|
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) engineering on
power generation and palm oil.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
18/08/2015 |
SGD 897,854.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PRAYASVIN BHANUBHAI PATEL + |
'HONEY HOUSE', BAKROL ROAD, VALLABH VIDYANAGAR, GUJARAT STATE, 388120,
INDIA. |
B1915611 |
10.00 |
0.00 |
|
ELECON ENGINEERING COMPANY LIMITED |
ANAND- SOJITRA ROAD, VALLABH VIDYANAGAR, GUJARAT STATE, 388120, INDIA. |
T04UF1474H |
897,844.00 |
100.00 |
|
--------------- |
------ |
|||
|
897,854.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
TARUNA PRAYASVIN PATEL |
|
Address |
: |
HONEY HOUSE, BAKROL ROAD, VALLABH VIDYANAGAR, DISTRICT ANAND, GUJARAT
STATE, 388120, INDIA. |
|
IC / PP No |
: |
058242802 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
24/07/2006 |
DIRECTOR 2
|
Name Of Subject |
: |
SHAH VIPUKUMAR BHAGVANDAS |
|
Address |
: |
255, COMPASSVALE ROAD, 11-690, 540255, SINGAPORE. |
|
IC / PP No |
: |
S7063891F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
31/12/2008 |
DIRECTOR 3
|
Name Of Subject |
: |
PRAYASVIN BHANUBHAI PATEL |
|
Address |
: |
'HONEY HOUSE', BAKROL ROAD, VALLABH VIDYANAGAR, GUJARAT STATE, 388120,
INDIA. |
|
IC / PP No |
: |
B1915611 |
|
Nationality |
: |
INDIAN |
|
Date of Appointment |
: |
21/07/2000 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
PRAYASVIN BHANUBHAI PATEL |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
SMALLEY & SIMS PAC |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
EDNA PANSY LOW |
|
IC / PP No |
: |
S1344941D |
|
|
Address |
: |
416, SAUJANA ROAD, 07-58, 670416, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C20137222 |
20/12/2013 |
N/A |
AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED |
- |
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 staff from the registered office refused to disclose the Subject's
suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
POWER GENERATION AND PALM OIL |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
4 |
50 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) engineering on power
generation and palm oil.
The staff from the registered office refused to disclose the Subject's
clientele.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62278258 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
N/A |
|
Current Address |
: |
10, ANSON ROAD, 24-03, INTERNATIONAL PLAZA, 079903, SINGAPORE. |
|
Match |
: |
N/A |
Other Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
3.06% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
62.97% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
13.23% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
16.91% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition.The Subject's profit fell sharply because of the high operating costs
incurred. The Subject's management had generated acceptable return for its
shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
1 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
46 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
1 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 |
: |
Favourable |
[ |
2.20 Times |
] |
|
|
Current Ratio |
: |
Favourable |
[ |
2.21 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 |
: |
Favourable |
[ |
19.27 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest cover showed that the Subject was able to service the interest.
The favourable interest cover could indicate that the Subject was making
enough profit to pay for the interest accrued. The Subject had no gearing and
hence it had virtually no financial risk. The Subject was financed by its
shareholders' funds and internally generated fund. During the economic
downturn, the Subject, having a zero gearing, will be able to compete better
than those which are highly geared in the same industry. |
||||||
|
Overall Assessment : |
||||||
|
Although the Subject's turnover had increased, its profits had
declined over the same corresponding period. This could be due to the stiffer
market competition and / or higher operating costs which lowered the
Subject's profit margin. 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. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. The Subject
was a zero gearing company, it was solely dependant on its shareholders to
provide funds to finance its business. The Subject has good chance of getting
loans, if the needs arises. |
||||||
|
Overall financial condition of the Subject : STRONG |
||||||
|
|
||||||
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 : |
CONSTRUCTION |
|
For the whole of 2013, the sector expanded by 5.9%, slower than the
growth of 8.6% in the previous year. Total construction output increased by
5.4% on the back of robust private and public residential building
activities. Besides, total construction demand increased by 17% to $36
billion in 2013, setting a new record high. The increase was driven by robust
construction demand from the public sector. |
|
|
Public sector construction demand rose by 56% to $15 billion in 2013.
The increase was supported by a ramp-up of public-housing developments and
significant increase in civil engineering construction demand on account of
the award of various Thomson MRT Line contracts. Besides, despite a slight
drop of 1.1%, total private sector construction demand remained relatively
strong at $21 billion. Demand was fuelled by residential developments, where
contracts awarded increased by 15% to reach $9.8 billion in 2013, the highest
on record. Besides, civil engineering construction demand contracted by 45%
due to the high base in 2012. However, the value of civil engineering
contracts awarded in 2013 was still higher than that achieved between 2009
and 2011, supported largely by the construction of major utilities and berth
facilities. |
|
|
In 2013, construction output has increased by 5.4% to reach $33
billion, surpassing the previous peak of $32 billion in 2012. Growth was
underpinned by strong on-site construction activities for public and private
residential, private industrial and civil engineering developments. Total
construction output in 2014 is projected to rise to between $34 billion and
$36 billion, supported by record high levels of contracts awarded in 2013 and
continued robust on-site activities from the high levels of demand since
2011. |
|
|
Public sector construction output reached $12 billion in 2013,
comparable to that achieved in 2012, supported largely by an increase in
onsite construction activities for public housing (18%) and institutional and
other building (4.7%) projects. Some of the major institutional building
projects under construction included the Singapore University of Technology
and Design (SUTD) Campus Phase 1, Ng Teng Fong Hospital, National Heart
Centre, National Art Gallery and Victoria Concert Hall. Additionally, even
though civil engineering construction output has contracted by 9.6% in 2013,
progress payments remained robust at $4.8 billion, supported by new rail
construction such as the Downtown Line Stages 2 & 3 as well as other
infrastructure projects like Tuas West Extension and Marina Coastal
Expressway. |
|
|
Private sector construction output expanded by 8.3% to $21 billion in
2013, underpinned by growth across all development types. In particular, robust
growth in on-site construction activities for residential developments (13%)
and civil engineering (14%) projects supported overall output growth. |
|
|
BCA forecasts total construction demand in 2014 to be between $31 billion
and $38 billion. Demand from the public sector is expected to strengthen to
between $19 billion and $22 billion, contributing close to 60% of projected
total construction demand. The boost to overall demand is likely to come from
stronger institutional and civil engineering construction works. At the same
time, private sector demand is projected to soften to between $12 billion and
$16 billion, due to the anticipated reduction in residential construction
demand as property market sentiments remain subdued following the various
property cooling measures. |
|
|
Furthermore, BMI continues to expect construction and infrastructure
growth in Singapore to moderate over the 2014-2020 period. Real growth for
the construction sector is forecast to slow from 5.9% in 2014 to3.0% in 2019,
while real growth for the infrastructure sector is expected to fall from
12.7% in 2014 to 4.0%in 2019. This moderation is primarily due to declining
housing demand, longer construction periods for planned infrastructure projects
and a poor export outlook, which could curb investment in non-residential
buildings. |
|
|
In September 2014, Singapore's Land Transit Authority (LTA) announced
that Phase 2 of the Mass Rapid Transit (MRT) system's Downtown Line would open
ahead of schedule in Q116. The project had previously been delayed by
financial troubles at one of its key contractors, and was expected to come
online only by Q216. Phase 2 of the Downtown Line will include 12 stations,
nine of which will be completely new. The project's total cost is estimated
at approximately SGD800mn. |
|
|
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. |
|
ELECON SINGAPORE PTE LTD |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
1,437,798 |
1,395,119 |
|
Other Income |
91 |
16,395 |
|
---------------- |
---------------- |
|
|
Total Turnover |
1,437,889 |
1,411,514 |
|
Costs of Goods Sold |
(739,841) |
(551,225) |
|
---------------- |
---------------- |
|
|
Gross Profit |
698,048 |
860,289 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
125,602 |
339,159 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
125,602 |
339,159 |
|
Taxation |
(21,900) |
49,600 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
103,702 |
388,759 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(217,933) |
(606,692) |
|
---------------- |
---------------- |
|
|
As restated |
(217,933) |
(606,692) |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(114,231) |
(217,933) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(114,231) |
(217,933) |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Loan from holding company |
6,873 |
- |
|
Others |
- |
9,257 |
|
---------------- |
---------------- |
|
|
6,873 |
9,257 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
4,511 |
5,045 |
|
---------------- |
---------------- |
|
|
4,511 |
5,045 |
|
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
ELECON SINGAPORE PTE LTD |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
17,480 |
14,642 |
|
Deferred assets |
27,700 |
49,600 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
27,700 |
49,600 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
45,180 |
64,242 |
|
Stocks |
4,755 |
28,288 |
|
Trade debtors |
181,064 |
140,652 |
|
Other debtors, deposits & prepayments |
190,900 |
6,818 |
|
Short term deposits |
114,170 |
- |
|
Amount due from holding company |
85,167 |
- |
|
Amount due from related companies |
87,365 |
- |
|
Cash & bank balances |
684,794 |
405,680 |
|
Amount owing by shareholders |
- |
562,444 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,348,215 |
1,143,882 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,393,395 |
1,208,124 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
2,697 |
25,533 |
|
Other creditors & accruals |
173,980 |
5,043 |
|
Amounts owing to holding company |
341,398 |
- |
|
Amounts owing to related companies |
91,697 |
- |
|
Other liabilities |
- |
497,627 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
609,772 |
528,203 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
738,443 |
615,679 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
783,623 |
679,921 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
897,854 |
897,854 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
897,854 |
897,854 |
|
Retained profit/(loss) carried forward |
(114,231) |
(217,933) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(114,231) |
(217,933) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
783,623 |
679,921 |
|
---------------- |
---------------- |
|
|
783,623 |
679,921 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
ELECON SINGAPORE PTE LTD |
|
TYPES OF FUNDS |
||
|
Cash |
798,964 |
405,680 |
|
Net Liquid Funds |
798,964 |
405,680 |
|
Net Liquid Assets |
733,688 |
587,391 |
|
Net Current Assets/(Liabilities) |
738,443 |
615,679 |
|
Net Tangible Assets |
783,623 |
679,921 |
|
Net Monetary Assets |
733,688 |
587,391 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
132,475 |
348,416 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
136,986 |
353,461 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
0 |
0 |
|
Total Liabilities |
609,772 |
528,203 |
|
Total Assets |
1,393,395 |
1,208,124 |
|
Net Assets |
783,623 |
679,921 |
|
Net Assets Backing |
783,623 |
679,921 |
|
Shareholders' Funds |
783,623 |
679,921 |
|
Total Share Capital |
897,854 |
897,854 |
|
Total Reserves |
(114,231) |
(217,933) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
1.31 |
0.77 |
|
Liquid Ratio |
2.20 |
2.11 |
|
Current Ratio |
2.21 |
2.17 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
1 |
7 |
|
Debtors Ratio |
46 |
37 |
|
Creditors Ratio |
1 |
17 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0 |
0 |
|
Liabilities Ratio |
0.78 |
0.78 |
|
Times Interest Earned Ratio |
19.27 |
37.64 |
|
Assets Backing Ratio |
0.87 |
0.76 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
8.74 |
24.31 |
|
Net Profit Margin |
7.21 |
27.87 |
|
Return On Net Assets |
16.91 |
51.24 |
|
Return On Capital Employed |
16.91 |
51.24 |
|
Return On Shareholders' Funds/Equity |
13.23 |
57.18 |
|
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.65.25 |
|
|
1 |
Rs.102.25 |
|
Euro |
1 |
Rs.72.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.