|
Report No. : |
338023 |
|
Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
VANLEE HANG PTE
LTD |
|
|
|
|
Formerly Known As : |
G & W INVESTMENT & TRASING PTE LTD |
|
|
|
|
Registered Office : |
5, Harrison Road, 06-01, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
15.05.1992 |
|
|
|
|
Com. Reg. No.: |
199202511-Z |
|
|
|
|
Legal Form : |
Exempt Private |
|
|
|
|
Line of Business : |
Retail Sale of Textiles. |
|
|
|
|
No. of Employees : |
5 [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 : |
Unknown |
|
|
|
|
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 |
|
REGISTRATION
NO. |
: |
199202511-Z |
|
COMPANY
NAME |
: |
VANLEE
HANG PTE LTD |
|
FORMER
NAME |
: |
G
& W INVESTMENT & TRASING PTE LTD (19/05/1998) |
|
INCORPORATION
DATE |
: |
15/05/1992 |
|
|
|
|
|
|
|
|
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
EXEMPT
PRIVATE |
|
LISTED
STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED
ADDRESS |
: |
5,
HARRISON ROAD, 06-01, YAN XIAN BUILDING, 369645, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
5 HARRISON
ROAD YAN XIAN BUILDING #06-01, 369645, SINGAPORE. |
|
TEL.NO. |
: |
65-62834124 |
|
FAX.NO. |
: |
65-63823889 |
|
CONTACT
PERSON |
: |
LEE
SWEE KWEE @ YEE KOW KIM ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL
ACTIVITY |
: |
RETAIL
SALE OF TEXTILES |
|
|
|
|
|
ISSUED
AND PAID UP CAPITAL |
: |
450,000.00
ORDINARY SHARE, OF A VALUE OF SGD 450,000.00 |
|
|
|
|
|
SALES |
: |
SGD
10,416,974 [2012] |
|
NET
WORTH |
: |
SGD
1,591,541 [2012] |
|
|
|
|
|
STAFF
STRENGTH |
: |
5
[2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL
RISK |
: |
N/A |
|
CURRENCY
EXPOSURE |
: |
N/A |
|
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) retail sale of textiles.
The
immediate and ultimate holding company of the Subject is VANLEE TRADING PTE
LTD, a company incorporated in SINGAPORE.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
24/08/2015 |
SGD
450,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
LEE
SWEE KWEE @ YEE KOW KIM + |
29,
JALAN MARIAM, CHANGI GROVE, 509308, SINGAPORE. |
S2007078A |
187,200.00 |
41.60 |
|
TAN
CHOON CHYE + |
407,
JURONG WEST STREET 42, 10-641, 640407, SINGAPORE. |
S1511856C |
108,000.00 |
24.00 |
|
WONG HENG
FOO + |
52,
CHOA CHU KANG NORTH 7, 15-17, REGENT GROVE, 689528, MALAYSIA. |
S1162776E |
108,000.00 |
24.00 |
|
LEE
SWEE LING |
21,
LENGKOK MARIAM, CHANGI GROVE, 509124, SINGAPORE. |
S1315031A |
23,400.00 |
5.20 |
|
LEE
SWEE LIAN |
24, JAGO
CLOSE, 428437, SINGAPORE. |
S1384625A |
11,700.00 |
2.60 |
|
LEE
SWEE HUAT |
21,
LENGKOK MARIAM, CHANGI GROVE, 509124, SINGAPORE. |
S1823196D |
11,700.00 |
2.60 |
|
|
|
|
--------------- |
------ |
|
|
|
|
450,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also
Director
DIRECTORS |
DIRECTOR
1
|
Name
Of Subject |
: |
TAN
CHOON CHYE |
|
Address |
: |
407,
JURONG WEST STREET 42, 10-641, 640407, SINGAPORE. |
|
IC /
PP No |
: |
S1511856C |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
18/05/1998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
2
|
Name
Of Subject |
: |
WONG
HENG FOO |
|
Address |
: |
52,
CHOA CHU KANG NORTH 7, 15-17, REGENT GROVE, 689528, MALAYSIA. |
|
IC /
PP No |
: |
S1162776E |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
18/05/1998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR
3
|
Name
Of Subject |
: |
LEE
SWEE KWEE @ YEE KOW KIM |
|
Address |
: |
29,
JALAN MARIAM, CHANGI GROVE, 509308, SINGAPORE. |
|
IC /
PP No |
: |
S2007078A |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
18/05/1998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT |
|
|
|
1) |
Name
of Subject |
: |
LEE
SWEE KWEE @ YEE KOW KIM |
|
|
Position |
: |
DIRECTOR |
AUDITOR |
|
Auditor |
: |
CHAN
GEOK HUAT & COMPANY |
|
Auditor'
Address |
: |
N/A |
|
|
|
|
COMPANY SECRETARIES |
|
1) |
Company
Secretary |
: |
TAN
LEONG WOON |
|
|
IC /
PP No |
: |
S1430937C |
|
|
|
|
|
|
|
Address |
: |
187,
BUKIT BATOK WEST AVENUE 6, 05-151, 650187, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
BANKING |
No Banker found in our databank.
ENCUMBRANCE (S) |
No encumbrance was found in our databank at the time of investigation.
LITIGATION CHECK AGAINST SUBJECT |
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT RECORD |
|
|
|
|
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
|
|
|
|
The Subject refused to disclose its suppliers.
CLIENTELE |
|
Local |
: |
N/A |
|
|
|
|
|
Overseas |
: |
N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Subject refused to disclose its clientele information.
OPERATIONS |
|
Goods
Traded |
: |
TEXTILES
AND GARMENTS
|
|
|
|
|
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
5 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other
Information:
The Subject is principally engaged in the (as a / as an) retail sale of
textiles.
The Subject supplies wide range of textiles.
CURRENT INVESTIGATION |
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
6563823009/
63823897/ 98171882 |
|
Current
Telephone Number |
: |
65-62834124 |
|
Match |
: |
NO |
|
|
|
|
|
Address
Provided by Client |
: |
NO. 5
HAUISON ROAD, 06-01 YAN XIAN BUILDING S'PORE 369645 |
|
Current
Address |
: |
5
HARRISON ROAD YAN XIAN BUILDING #06-01, 369645, SINGAPORE. |
|
Match |
: |
NO |
|
|
||
|
|
||
Other
Investigations
We contacted one of the staff from the Subject and she only provided limited
information.
The address as per stated in the report.
FINANCIAL ANALYSIS |
|
The
Subject's latest financial accounts are up to 2012 which is out dated in our
opinion. Therefore, our comment on the Subject financial performance is
restricted thereto. |
||||||
|
|
|
|
|
|
|
|
|
Overall
financial condition of the Subject : N/A |
||||||
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. |
|
VANLEE
HANG PTE LTD |
|
Financial
Year End |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
|
Financial
Type |
SUMMARY |
SUMMARY |
FULL |
FULL |
|
Currency |
SGD |
SGD |
SGD |
SGD |
|
|
|
|
|
|
|
TURNOVER |
10,416,974 |
11,126,618 |
7,973,085 |
7,802,945 |
|
Other
Income |
- |
- |
2,515 |
46,108 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Total
Turnover |
10,416,974 |
11,126,618 |
7,975,600 |
7,849,053 |
|
Costs
of Goods Sold |
- |
- |
(6,823,039) |
(6,849,824) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
Gross
Profit |
- |
- |
1,152,561 |
999,229 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
|
|
|
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
874,661 |
794,609 |
(76,169) |
186,955 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS)
BEFORE TAXATION |
874,661 |
794,609 |
(76,169) |
186,955 |
|
Taxation |
(100,329) |
(120,457) |
(4,598) |
(17,161) |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT/(LOSS)
AFTER TAXATION |
774,332 |
674,152 |
(80,767) |
169,794 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
|
|
As
previously reported |
1,327,209 |
653,057 |
733,824 |
564,030 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
As
restated |
1,327,209 |
653,057 |
733,824 |
564,030 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
2,101,541 |
1,327,209 |
653,057 |
733,824 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
2,101,541 |
1,327,209 |
653,057 |
733,824 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|
|
|
|
|
Hire
purchase |
- |
- |
5,152 |
5,614 |
|
Others |
- |
- |
583 |
526 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
5,735 |
6,140 |
|
|
- |
- |
============= |
============= |
BALANCE SHEET |
|
VANLEE
HANG PTE LTD |
|
ASSETS
EMPLOYED: |
|
|
|
|
|
FIXED
ASSETS |
472,265 |
266,926 |
121,751 |
231,274 |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL
LONG TERM ASSETS |
472,265 |
266,926 |
121,751 |
231,274 |
|
|
|
|
|
|
|
Stocks |
- |
- |
2,052,726 |
1,731,608 |
|
Trade
debtors |
- |
- |
5,597,529 |
5,264,153 |
|
Amount
due from director |
- |
- |
100,000 |
80,000 |
|
Cash
& bank balances |
- |
- |
277,582 |
162,061 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL
CURRENT ASSETS |
8,558,763 |
8,888,846 |
8,027,837 |
7,237,822 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL
ASSET |
9,031,028 |
9,155,772 |
8,149,588 |
7,469,096 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
Trade
creditors |
- |
- |
6,869,979 |
6,111,562 |
|
Other
creditors & accruals |
- |
- |
56,823 |
10,785 |
|
Hire
purchase & lease creditors |
- |
- |
30,896 |
30,900 |
|
Provision
for taxation |
- |
- |
4,598 |
16,898 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL
CURRENT LIABILITIES |
7,004,960 |
7,738,563 |
6,962,296 |
6,170,145 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
NET
CURRENT ASSETS/(LIABILITIES) |
1,553,803 |
1,150,283 |
1,065,541 |
1,067,677 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL
NET ASSETS |
2,026,068 |
1,417,209 |
1,187,292 |
1,298,951 |
|
|
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
SHARE
CAPITAL |
|
|
|
|
|
Ordinary
share capital |
450,000 |
450,000 |
450,000 |
450,000 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL
SHARE CAPITAL |
450,000 |
450,000 |
450,000 |
450,000 |
|
|
|
|
|
|
|
Retained
profit/(loss) carried forward |
2,101,541 |
1,327,209 |
653,057 |
733,824 |
|
Others |
(960,000) |
(360,000) |
- |
- |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL
RESERVES |
1,141,541 |
967,209 |
653,057 |
733,824 |
|
|
|
|
|
|
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
SHAREHOLDERS'
FUNDS/EQUITY |
1,591,541 |
1,417,209 |
1,103,057 |
1,183,824 |
|
|
|
|
|
|
|
Lease
obligations |
- |
- |
81,844 |
112,736 |
|
Deferred
taxation |
- |
- |
2,391 |
2,391 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
TOTAL
LONG TERM LIABILITIES |
434,527 |
- |
84,235 |
115,127 |
|
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,026,068 |
1,417,209 |
1,187,292 |
1,298,951 |
|
|
|
|
|
|
|
|
============= |
============= |
============= |
============= |
FINANCIAL RATIO |
|
VANLEE
HANG PTE LTD |
|
TYPES
OF FUNDS |
|
|
|
|
|
Cash |
- |
- |
277,582 |
162,061 |
|
Net
Liquid Funds |
- |
- |
277,582 |
162,061 |
|
Net
Liquid Assets |
1,553,803 |
1,150,283 |
(987,185) |
(663,931) |
|
Net
Current Assets/(Liabilities) |
1,553,803 |
1,150,283 |
1,065,541 |
1,067,677 |
|
Net
Tangible Assets |
2,026,068 |
1,417,209 |
1,187,292 |
1,298,951 |
|
Net
Monetary Assets |
1,119,276 |
1,150,283 |
(1,071,420) |
(779,058) |
|
PROFIT
& LOSS ITEMS |
|
|
|
|
|
Earnings
Before Interest & Tax (EBIT) |
- |
- |
(70,434) |
193,095 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
- |
- |
(70,434) |
193,095 |
|
BALANCE
SHEET ITEMS |
|
|
|
|
|
Total
Borrowings |
- |
- |
112,740 |
143,636 |
|
Total
Liabilities |
7,439,487 |
7,738,563 |
7,046,531 |
6,285,272 |
|
Total
Assets |
9,031,028 |
9,155,772 |
8,149,588 |
7,469,096 |
|
Net
Assets |
2,026,068 |
1,417,209 |
1,187,292 |
1,298,951 |
|
Net
Assets Backing |
1,591,541 |
1,417,209 |
1,103,057 |
1,183,824 |
|
Shareholders'
Funds |
1,591,541 |
1,417,209 |
1,103,057 |
1,183,824 |
|
Total
Share Capital |
450,000 |
450,000 |
450,000 |
450,000 |
|
Total
Reserves |
1,141,541 |
967,209 |
653,057 |
733,824 |
|
LIQUIDITY
(Times) |
|
|
|
|
|
Cash
Ratio |
- |
- |
0.04 |
0.03 |
|
Liquid
Ratio |
- |
- |
0.86 |
0.89 |
|
Current
Ratio |
1.22 |
1.15 |
1.15 |
1.17 |
|
WORKING
CAPITAL CONTROL (Days) |
|
|
|
|
|
Stock
Ratio |
- |
- |
94 |
81 |
|
Debtors
Ratio |
- |
- |
256 |
246 |
|
Creditors
Ratio |
- |
- |
368 |
326 |
|
SOLVENCY
RATIOS (Times) |
|
|
|
|
|
Gearing
Ratio |
- |
- |
0.10 |
0.12 |
|
Liabilities
Ratio |
4.67 |
5.46 |
6.39 |
5.31 |
|
Times
Interest Earned Ratio |
- |
- |
(12.28) |
31.45 |
|
Assets
Backing Ratio |
4.50 |
3.15 |
2.64 |
2.89 |
|
PERFORMANCE
RATIO (%) |
|
|
|
|
|
Operating
Profit Margin |
8.40 |
7.14 |
(0.96) |
2.40 |
|
Net
Profit Margin |
7.43 |
6.06 |
(1.01) |
2.18 |
|
Return
On Net Assets |
43.17 |
56.07 |
(5.93) |
14.87 |
|
Return
On Capital Employed |
43.17 |
56.07 |
(5.78) |
14.52 |
|
Return
On Shareholders' Funds/Equity |
48.65 |
47.57 |
(7.32) |
14.34 |
|
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.66.16 |
|
|
1 |
Rs.103.88 |
|
Euro |
1 |
Rs.75.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.