|
Report No. : |
352415 |
|
Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
NYNAS PTE. LTD. |
|
|
|
|
Registered Office : |
112, Robinson Road, 05-01, Robinson 112, 068902 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
24.12.2007 |
|
|
|
|
Com. Reg. No.: |
200723567-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the wholesale of petrochemical products. |
|
|
|
|
No. of Employees : |
13 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
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. |
: |
200723567-N |
|
COMPANY NAME |
: |
NYNAS PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
24/12/2007 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
112, ROBINSON ROAD, 05-01, ROBINSON 112, 068902, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
112 ROBINSON ROAD #05- 01 ROBINSON 112, 068902, SINGAPORE. |
|
TEL.NO. |
: |
65-68726468 |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
LARS ANDERS NILSSON ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF PETROCHEMICAL PRODUCTS |
|
ISSUED AND PAID UP CAPITAL |
: |
36,720.00 ORDINARY SHARE, OF A VALUE OF USD 36,720.00 |
|
SALES |
: |
SGD 145,884,504 [2014] |
|
NET WORTH |
: |
SGD 12,521,666 [2014] |
|
STAFF STRENGTH |
: |
13 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
GOOD |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
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) wholesale of
petrochemical products.
The immediate holding company of the Subject is NYNAS AB (PUBL), a
company incorporated in SWEDEN.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
01/12/2015 |
USD 36,720.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
NYNAS AB (PUBL) |
BOX 10700, SE-121 29, STOCKHOLM |
T08UF0593 |
36,720.00 |
100.00 |
|
--------------- |
------ |
|||
|
36,720.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
LARS ANDERS NILSSON |
|
Address |
: |
TJARHOVSGATAN 19, LGH 1102 116 28, STOCKHOLM, SWEDEN. |
|
IC / PP No |
: |
86976044 |
|
Nationality |
: |
SWEDE |
|
Date of Appointment |
: |
17/09/2015 |
DIRECTOR 2
|
Name Of Subject |
: |
PASCAL ALBERT JOHAN VERHOIE |
|
Address |
: |
6, MARTIN PLACE, 06-09, MARTIN PLACE RESIDENCES, 237990, SINGAPORE. |
|
IC / PP No |
: |
G5361872W |
|
Nationality |
: |
BELGIAN |
|
Date of Appointment |
: |
25/10/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
MARIA LUNDIN OLANDERSSON |
|
Address |
: |
KLINGSTA GARD 17, 182 33, DANDERYD, SWEDEN. |
|
IC / PP No |
: |
82127542 |
|
Nationality |
: |
SWEDE |
|
Date of Appointment |
: |
25/10/2012 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
LARS ANDERS NILSSON |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
CHAN CHOW PHENG |
|
IC / PP No |
: |
S1298885J |
|
|
Address |
: |
59, TELOK BLANGAH HEIGHTS, 04-11, 100059, 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 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 |
[ |
] |
Good 31-60 Days |
[ |
X |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
|
Goods Traded |
: |
PETROCHEMICAL PRODUCTS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
13 |
12 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
petrochemical products.
The staff from the registered office refused to disclose the Subject's
operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68726468 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
61 SCIENCE PARK ROAD, #06-13 THE GALEN SINGAPORE SCIENCE PARK 2,
SINGAPORE 117525 |
|
Current Address |
: |
112 ROBINSON ROAD #05- 01 ROBINSON 112, 068902, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject's registered office and she
provided limited information.
She refused to disclose the Subject's fax number.
We found contact number based on the address provided at 65920160 but it is not
answered.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
12.57% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
13.53% |
] |
|
|
The fluctuating turnover reflects the fierce competition among the
existing and new market players.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 |
: |
Unfavourable |
[ |
88 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
37 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
10 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. 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 |
[ |
0.54 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.25 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 |
: |
Nil |
[ |
0.00 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The Subject's interest cover was nil as it did not pay any interest
during the year. 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 recorded lower profits as its turnover showed a erratic
trend. The Subject's management was unable to control its costs efficiently
as its profit showed a downward trend. 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 did not make any interest payment during the
year. The Subject was dependent on its shareholders' funds to finance its
business needs. 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 : FAIR |
||||||
|
|
||||||
SINGAPORE
ECONOMIC / INDUSTRY OUTLOOK
|
|
Major Economic Indicators : |
2010 |
2011 |
2012 |
2013 |
2014 |
|
|
|||||
|
Population (Million) |
5.08 |
5.18 |
5.31 |
5.40 |
5.47 |
|
Gross Domestic Products ( % ) |
14.5 |
4.9 |
1.3 |
3.7 |
(3.5) |
|
Consumer Price Index |
2.8 |
5.2 |
4.6 |
2.4 |
2.4 |
|
Total Imports (Million) |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
463,779.1 |
|
Total Exports (Million) |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
518,922.7 |
|
|
|||||
|
Unemployment Rate (%) |
2.2 |
2.1 |
2.0 |
1.9 |
1.9 |
|
Tourist Arrival (Million) |
11.64 |
13.17 |
14.49 |
15.46 |
15.01 |
|
Hotel Occupancy Rate (%) |
85.6 |
86.5 |
86.4 |
86.3 |
85.5 |
|
Cellular Phone Subscriber (Million) |
1.43 |
1.50 |
1.52 |
1.97 |
1.98 |
|
|
|||||
|
Registration of New Companies (No.) |
29,798 |
32,317 |
31,892 |
37,288 |
41,589 |
|
Registration of New Companies (%) |
12.8 |
8.5 |
(1.3) |
9.8 |
11.5 |
|
Liquidation of Companies (No.) |
15,126 |
19,005 |
17,218 |
17,369 |
18,767 |
|
Liquidation of Companies (%) |
(32.5) |
25.6 |
9.4 |
(5.3) |
8.0 |
|
|
|||||
|
Registration of New Businesses (No.) |
23,978 |
23,494 |
24,788 |
22,893 |
35,773 |
|
Registration of New Businesses (%) |
(10.78) |
2.02 |
5.51 |
1.70 |
56.30 |
|
Liquidation of Businesses (No.) |
24,211 |
23,005 |
22,489 |
22,598 |
22,098 |
|
Liquidation of Businesses (%) |
2.8 |
(5) |
(2.2) |
0.5 |
(2.2) |
|
|
|||||
|
Bankruptcy Orders (No.) |
1,537 |
1,527 |
1,748 |
1,992 |
1,757 |
|
Bankruptcy Orders (%) |
(25.3) |
(0.7) |
14.5 |
14.0 |
(11.8) |
|
Bankruptcy Discharges (No.) |
2,252 |
1,391 |
1,881 |
2,584 |
3,546 |
|
Bankruptcy Discharges (%) |
(26.3) |
(38.2) |
35.2 |
37.4 |
37.2 |
|
|
|||||
|
INDUSTRIES ( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production of Principal Crops |
(0.48) |
4.25 |
3.64 |
- |
|
|
Fish Supply & Wholesale |
(10.5) |
12.10 |
(0.5) |
- |
2.80 |
|
|
|||||
|
Manufacturing * |
92.8 |
100.0 |
100.3 |
102.0 |
|
|
Food, Beverages & Tobacco |
96.4 |
100.0 |
103.5 |
103.5 |
105.0 |
|
Textiles |
122.1 |
100.0 |
104.0 |
87.1 |
74.9 |
|
Wearing Apparel |
123.3 |
100.0 |
92.1 |
77.8 |
49.5 |
|
Leather Products & Footwear |
81.8 |
100.0 |
98.6 |
109.8 |
95.9 |
|
Wood & Wood Products |
104.0 |
100.0 |
95.5 |
107.4 |
112.0 |
|
Paper & Paper Products |
106.1 |
100.0 |
97.4 |
103.2 |
103.4 |
|
Printing & Media |
103.5 |
100.0 |
93.0 |
86.1 |
80.3 |
|
Crude Oil Refineries |
95.6 |
100.0 |
99.4 |
93.5 |
85.6 |
|
Chemical & Chemical Products |
97.6 |
100.0 |
100.5 |
104.1 |
114.0 |
|
Pharmaceutical Products |
75.3 |
100.0 |
109.7 |
107.2 |
115.7 |
|
Rubber & Plastic Products |
112.3 |
100.0 |
96.5 |
92.9 |
92.8 |
|
Non-metallic Mineral |
92.5 |
100.0 |
98.2 |
97.6 |
82.2 |
|
Basic Metals |
102.2 |
100.0 |
90.6 |
76.5 |
98.3 |
|
Fabricated Metal Products |
103.6 |
100.0 |
104.3 |
105.1 |
105.1 |
|
Machinery & Equipment |
78.5 |
100.0 |
112.9 |
114.5 |
124.0 |
|
Electrical Machinery |
124.1 |
100.0 |
99.3 |
108.5 |
121.3 |
|
Electronic Components |
113.6 |
100.0 |
90.6 |
94.3 |
95.0 |
|
Transport Equipment |
94.0 |
100.0 |
106.3 |
107.5 |
103.2 |
|
|
|||||
|
Construction |
14.20 |
20.50 |
28.70 |
- |
22.00 |
|
Real Estate |
21.3 |
25.4 |
31.9 |
- |
145.1 |
|
|
|||||
|
Services |
|||||
|
Electricity, Gas & Water |
4.00 |
7.00 |
6.30 |
- |
|
|
Transport, Storage & Communication |
12.80 |
7.40 |
5.30 |
- |
14.20 |
|
Finance & Insurance |
(0.4) |
8.90 |
0.50 |
- |
6.00 |
|
Government Services |
9.70 |
6.90 |
6.00 |
- |
|
|
Education Services |
(0.9) |
(1.4) |
0.30 |
- |
5.98 |
|
|
|||||
|
* Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in the
third quarter of 2014, extending the 1.8 per cent growth in the previous
quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after
declining by 1.4% the year before. Growth of the sector was driven by the
wholesale trade segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the fourth
quarter of 2013, moderating from the 6.6% growth in the previous quarter. The
slower growth was due to a decline in the sales of furniture and household
equipment (-12%) and petroleum and petroleum products (-0.6%). For the full
year, the domestic wholesale trade index grew by 5.2% reversing the 2.2%
decline in 2012. On the other hand, the foreign wholesale trade index has
increased by a slower pace of 5.6% in the fourth quarter, compared to the
7.7% expansion in the preceding quarter. The slowdown was due to a fall in
the sales of telecommunication equipment and computer (-3.8%) and petroleum
and petroleum products (-2.5%). For the full year, the growth of the foreign
wholesale trade index moderated slightly to 8.6% from 9.1% in the previous
year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending
the 5.6% decline in the previous quarter. Excluding motor vehicles, retail
sales volume increased by 0.4%, a slower pace of expansion as compared to the
1.6% gain in the preceding quarter. The sales volume of motor vehicles fell
by 33% in the fourth quarter of 2013, extending the 32% decline in the
previous quarter. Meanwhile, the sales of several discretionary items also
fell in the fourth quarter of 2013. For instance, the sales of
telecommunications apparatus and computers fell by 12%, while the sales of
furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a reversal
from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail
sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012.
Watches and jewellery recorded the largest increase (11%) in sales in 2013,
followed by optical goods and book (3%) and medical goods and toiletries
(3%). By contrast, the sales of telecommunications apparatus and computer
(-7.3%), furniture and household equipment (-4.2%) and petrol service
stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
NYNAS PTE. LTD. |
|
Financial Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
Company |
Company |
Company |
Company |
Company |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
SUMMARY |
|
Currency |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
145,884,504 |
129,377,937 |
130,105,773 |
134,429,993 |
88,061,289 |
|
Other Income |
1,408,950 |
902,796 |
1,774,686 |
1,011,475 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
147,293,454 |
130,280,733 |
131,880,459 |
135,441,468 |
88,061,289 |
|
Costs of Goods Sold |
(138,780,159) |
(120,312,445) |
(112,458,237) |
(118,619,379) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
8,513,295 |
9,968,288 |
19,422,222 |
16,822,089 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
1,695,109 |
4,486,604 |
13,266,642 |
13,633,383 |
1,078,948 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
1,695,109 |
4,486,604 |
13,266,642 |
13,633,383 |
1,078,948 |
|
Taxation |
(120,603) |
(398,774) |
(2,314,376) |
(2,320,692) |
(140,482) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
1,574,506 |
4,087,830 |
10,952,266 |
11,312,691 |
938,466 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
10,897,160 |
6,809,330 |
15,857,064 |
4,544,373 |
3,605,907 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
10,897,160 |
6,809,330 |
15,857,064 |
4,544,373 |
3,605,907 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
12,471,666 |
10,897,160 |
26,809,330 |
15,857,064 |
4,544,373 |
|
DIVIDENDS - Ordinary (paid & proposed) |
- |
- |
(20,000,000) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
12,471,666 |
10,897,160 |
6,809,330 |
15,857,064 |
4,544,373 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
- |
- |
126,103 |
134,713 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
- |
- |
126,103 |
134,713 |
- |
|
|
- |
- |
============= |
============= |
- |
|
|
DEPRECIATION (as per notes to P&L) |
148,260 |
113,136 |
117,772 |
111,876 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
148,260 |
113,136 |
117,772 |
111,876 |
- |
|
|
============= |
============= |
============= |
============= |
||
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
NYNAS PTE. LTD. |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
259,111 |
332,263 |
213,783 |
291,676 |
117,111 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
259,111 |
332,263 |
213,783 |
291,676 |
117,111 |
|
Stocks |
35,314,905 |
5,875,741 |
8,971,265 |
7,535,101 |
- |
|
Trade debtors |
14,802,285 |
14,608,969 |
13,407,117 |
11,531,542 |
- |
|
Other debtors, deposits & prepayments |
452,400 |
425,057 |
177,741 |
128,064 |
- |
|
Amount due from holding company |
111,515 |
301,331 |
1,437,060 |
67,437 |
- |
|
Amount due from related companies |
8,458,147 |
- |
- |
- |
- |
|
Cash & bank balances |
2,683,066 |
3,105,255 |
1,653,568 |
2,596,821 |
- |
|
Others |
- |
- |
- |
20,532 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
61,822,318 |
24,316,353 |
25,646,751 |
21,879,497 |
21,198,680 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
62,081,429 |
24,648,616 |
25,860,534 |
22,171,173 |
21,315,791 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
3,758,732 |
2,310,825 |
1,718,224 |
1,304,926 |
- |
|
Other creditors & accruals |
752,915 |
795,848 |
83,502 |
103,408 |
- |
|
Other liabilities & accruals |
265,520 |
290,273 |
- |
- |
- |
|
Amounts owing to holding company |
44,545,987 |
9,815,120 |
12,360,569 |
1,221,817 |
- |
|
Amounts owing to related companies |
- |
- |
49,753 |
119,149 |
- |
|
Provision for taxation |
225,409 |
478,190 |
4,278,059 |
2,321,968 |
- |
|
Other liabilities |
- |
- |
499,897 |
1,181,641 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
49,548,563 |
13,690,256 |
18,990,004 |
6,252,909 |
16,710,218 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
12,273,755 |
10,626,097 |
6,656,747 |
15,626,588 |
4,488,462 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
12,532,866 |
10,958,360 |
6,870,530 |
15,918,264 |
4,605,573 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
50,000 |
50,000 |
50,000 |
50,000 |
36,720 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
50,000 |
50,000 |
50,000 |
50,000 |
36,720 |
|
Retained profit/(loss) carried forward |
12,471,666 |
10,897,160 |
6,809,330 |
15,857,064 |
4,544,373 |
|
Others |
- |
- |
- |
- |
13,280 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
12,471,666 |
10,897,160 |
6,809,330 |
15,857,064 |
4,557,653 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
12,521,666 |
10,947,160 |
6,859,330 |
15,907,064 |
4,594,373 |
|
Deferred taxation |
11,200 |
11,200 |
11,200 |
11,200 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
11,200 |
11,200 |
11,200 |
11,200 |
11,200 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
12,532,866 |
10,958,360 |
6,870,530 |
15,918,264 |
4,605,573 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
NYNAS PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
2,683,066 |
3,105,255 |
1,653,568 |
2,596,821 |
- |
|
Net Liquid Funds |
2,683,066 |
3,105,255 |
1,653,568 |
2,596,821 |
- |
|
Net Liquid Assets |
(23,041,150) |
4,750,356 |
(2,314,518) |
8,091,487 |
4,488,462 |
|
Net Current Assets/(Liabilities) |
12,273,755 |
10,626,097 |
6,656,747 |
15,626,588 |
4,488,462 |
|
Net Tangible Assets |
12,532,866 |
10,958,360 |
6,870,530 |
15,918,264 |
4,605,573 |
|
Net Monetary Assets |
(23,052,350) |
4,739,156 |
(2,325,718) |
8,080,287 |
4,477,262 |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
1,695,109 |
4,486,604 |
13,392,745 |
13,768,096 |
- |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
1,843,369 |
4,599,740 |
13,510,517 |
13,879,972 |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
0 |
0 |
- |
|
Total Liabilities |
49,559,763 |
13,701,456 |
19,001,204 |
6,264,109 |
16,721,418 |
|
Total Assets |
62,081,429 |
24,648,616 |
25,860,534 |
22,171,173 |
21,315,791 |
|
Net Assets |
12,532,866 |
10,958,360 |
6,870,530 |
15,918,264 |
4,605,573 |
|
Net Assets Backing |
12,521,666 |
10,947,160 |
6,859,330 |
15,907,064 |
4,594,373 |
|
Shareholders' Funds |
12,521,666 |
10,947,160 |
6,859,330 |
15,907,064 |
4,594,373 |
|
Total Share Capital |
50,000 |
50,000 |
50,000 |
50,000 |
36,720 |
|
Total Reserves |
12,471,666 |
10,897,160 |
6,809,330 |
15,857,064 |
4,557,653 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.05 |
0.23 |
0.09 |
0.42 |
- |
|
Liquid Ratio |
0.53 |
1.35 |
0.88 |
2.29 |
- |
|
Current Ratio |
1.25 |
1.78 |
1.35 |
3.50 |
1.27 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
88 |
17 |
25 |
20 |
- |
|
Debtors Ratio |
37 |
41 |
38 |
31 |
- |
|
Creditors Ratio |
10 |
7 |
6 |
4 |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0 |
0 |
0 |
0 |
- |
|
Liabilities Ratio |
3.96 |
1.25 |
2.77 |
0.39 |
3.64 |
|
Times Interest Earned Ratio |
0 |
0 |
106.20 |
102.20 |
- |
|
Assets Backing Ratio |
250.66 |
219.17 |
137.41 |
318.37 |
125.42 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
1.16 |
3.47 |
10.20 |
10.14 |
1.23 |
|
Net Profit Margin |
1.08 |
3.16 |
8.42 |
8.42 |
1.07 |
|
Return On Net Assets |
13.53 |
40.94 |
194.93 |
86.49 |
23.43 |
|
Return On Capital Employed |
13.53 |
40.94 |
194.93 |
86.49 |
23.43 |
|
Return On Shareholders' Funds/Equity |
12.57 |
37.34 |
159.67 |
71.12 |
20.43 |
|
Dividend Pay Out Ratio (Times) |
0 |
0 |
1.83 |
0 |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.81 |
|
|
1 |
Rs.100.36 |
|
Euro |
1 |
Rs.70.68 |
|
SGD |
1 |
Rs.47.18 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
TRI |
|
|
|
|
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.