|
Report No. : |
353432 |
|
Report Date : |
08.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
KESHAV GLOBAL
PRIVATE LIMITED |
|
|
|
|
Registered Office : |
24, Raffles Place , 25-02a, Clifford Centre, 048621 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
18.02.2008 |
|
|
|
|
Com. Reg. No.: |
200803330-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of Logs, Sawn Timber, Plywood and Related
Products. |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
No Complaints |
|
|
|
|
Litigation : |
Exist |
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. |
: |
200803330-W |
||||
|
COMPANY
NAME |
: |
KESHAV
GLOBAL PRIVATE LIMITED |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
18/02/2008 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
24,
RAFFLES PLACE , 25-02A, CLIFFORD CENTRE, 048621, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
24
RAFFLES PLACE #25-02A CLIFFORD CENTRE, 048621, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62964041 |
||||
|
FAX.NO. |
: |
65-62944041 |
||||
|
CONTACT
PERSON |
: |
BALASUBRAMANIAN
NARAYAN IYER ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF LOGS, SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
1,557,988.00
ORDINARY SHARE, OF A VALUE OF SGD 1,557,988.00 |
||||
|
SALES |
: |
USD
33,253,178 [2014] |
||||
|
NET
WORTH |
: |
USD
3,924,949 [2014] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
TRACED |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
GOOD |
||||
|
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) wholesale of logs, sawn timber, plywood and related products.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
07/12/2015 |
SGD
1,557,988.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
RAJAT
EXPORTS IMPORTS (INDIA) PRIVATE LIMITED |
A-134,
ARJUN NAGAR, KOTLA MUBARAKPUR, NEW DELHI |
T10UF0749D |
344,400.00 |
22.11 |
|
CHOVATIYA
SOHILKUMAR PRAVINKUMAR |
8-B,
METROPOLIS-1, AVE. MANUEL E. BATISTA |
Z1518318 |
283,135.00 |
18.17 |
|
GARG
VYOM + |
H.
640, REVTI KUNJ RAILWAY ROAD, HAPUR KOTWALI, GHAZIABAD, UP, INDIA. |
H2769408 |
280,800.00 |
18.02 |
|
CHHAPRA
FARDEEN MOHAMED HUSSAIN |
APT
3, CASA 21, CALLE RICARDO MIRO VISTA HERMOSA |
Z2140454 |
279,078.00 |
17.91 |
|
CHOVATIYA
MANISHA SOHILKUMAR |
BAVAVALA
PARA STREET 6, B/H HAVELI ZINABOKHA, KUVA JETPUR, RAJKOT |
F4074809 |
148,150.00 |
9.51 |
|
CHOVATIA
PRAVINCHANDRA RANCHHOD |
DEVYANI
PROCESSOR, DHORAGI ROAD, JETPUR, DIST RAJKOT |
Z1218383 |
147,965.00 |
9.50 |
|
RAJKRIPAL
LUMBERS LIMITED |
7,
ARJUN NAGAR, KOTLA MUBARAKPUR, NEW DELHI |
T11UF3790K |
60,960.00 |
3.91 |
|
BRAHMA
INDUSTRIES PRIVATE LIMITED |
A-134,
ARJUN NAGAR, KOTLA MUBARAKPUR |
T15UF1386L |
13,500.00 |
0.87 |
|
--------------- |
------ |
|||
|
1,557,988.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
BALASUBRAMANIAN
NARAYAN IYER |
|
Address |
: |
39,
AMBER GARDENS, 13-17, ESTA, 439970, SINGAPORE. |
|
IC
/ PP No |
: |
S2673731A |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
18/02/2008 |
DIRECTOR
2
|
Name
Of Subject |
: |
GARG
VYOM |
|
Address |
: |
H.
640, REVTI KUNJ RAILWAY ROAD, HAPUR KOTWALI, GHAZIABAD, UP, INDIA. |
|
IC
/ PP No |
: |
H2769408 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
27/02/2012 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
BALASUBRAMANIAN
NARAYAN IYER |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
T
RAVI & CO. |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
BALASUBRAMANIAN
NARAYAN IYER |
|
IC
/ PP No |
: |
S2673731A |
|
|
Address |
: |
39,
AMBER GARDENS, 13-17, ESTA, 439970, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
BANK
OF BARODA |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201002384 |
19/03/2010 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201102716 |
03/03/2011 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201104833 |
19/04/2011 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201104834 |
19/04/2011 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201107446 |
21/06/2011 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201211787 |
13/10/2012 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201211925 |
16/10/2012 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201300154 |
04/01/2013 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201407582 |
22/07/2014 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
|
C201407584 |
22/07/2014 |
N/A |
BANK
OF BARODA |
- |
Unsatisfied |
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 |
: |
732 |
||||||||
|
Year |
: |
2015 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
SUPREME
COURT |
|||||||||||
|
Date
Filed |
: |
15/07/2015 |
|||||||||||
|
Solicitor |
: |
LAU
KAH HEE |
|||||||||||
|
Solicitor
Ref |
: |
NPA/LKE/10074482-50003630-0000 |
|||||||||||
|
Solicitor
Firm |
: |
WONG
& LEOW LLC |
|||||||||||
|
Plaintiff |
: |
NGM
INTERNATIONAL B.V |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Hearing
Date |
: |
N/A |
|||||||||||
|
Amount
Claimed |
: |
522283.21 |
|||||||||||
|
Nature
of Claim |
: |
USD |
|||||||||||
|
Remark |
: |
OTHERS
(FOOD PRODUCTS) |
|||||||||||
|
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 |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
LOGS,
SAWN TIMBER, PLYWOOD AND RELATED PRODUCTS |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) wholesale of logs,
sawn timber, plywood and related products.
The Subject sells logs, timber and others.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
65
6296 4041 |
|
Current
Telephone Number |
: |
65-62964041 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
24
RAFFLES PLACE, #25-02, CLIFFORD CENTRE SINGAPORE 048621 |
|
Current
Address |
: |
24
RAFFLES PLACE #25-02A CLIFFORD CENTRE, 048621, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
He refused to disclose the Subject's number of employees.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2011
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
2011
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Acceptable |
[ |
20.53% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
34.04% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The Subject's management have been efficient in controlling
its operating costs. The Subject's management had generated acceptable return
for its shareholders using its assets. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Unfavourable |
[ |
112
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
16
Days |
] |
|
|
As
the Subject is a service oriented company, the Subject does not need to keep stocks.
The Subject's debtors ratio was high. The Subject should tighten its credit
control and improve its collection period. 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 |
[ |
1.36
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.36
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 |
: |
Acceptable |
[ |
3.02
Times |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
2.24
Times |
] |
|
|
The
Subject's interest cover was slightly low. If there is no sharp fall in its
profit or sudden increase in the interest rates, we believe the Subject is
able to generate sufficient income to service its interest and repay the
loans. The Subject was highly geared, thus it had a high financial risk. The
Subject was dependent on loans to finance its business needs. In times of
economic downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and to
repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay. |
||||||
|
Overall
Assessment : |
||||||
|
Although
the turnover was erratic, the Subject had maintained a steady growth in its
profit. This indicate the management's efficiency in controlling its costs
and profitability. 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. The Subject had an acceptable interest cover. If there is no
sudden sharp increase in interest rate or fall in the Subject's profit, we do
believe the Subject is able to generate sufficient cash flow to service its
interest payment. The Subject's gearing level was high and its going concern
will be in doubt if there is no injection of additional shareholders' funds
in times of economic downturn and / or high interest rates. |
||||||
|
Overall
financial condition of the Subject : STABLE |
||||||
|
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) |
|||||
|
(Source
: Department of Statistics) |
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. |
|
KESHAV
GLOBAL PRIVATE LIMITED |
|
Financial
Year End |
2014-03-31 |
2013-03-31 |
2012-01-31 |
2011-01-31 |
|
Months |
12 |
14 |
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 |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
33,253,178 |
32,007,911 |
39,533,131 |
11,666,711 |
|
Other
Income |
26,137 |
22,929 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
33,279,315 |
32,030,840 |
39,533,131 |
11,666,711 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
893,818 |
859,779 |
1,016,739 |
352,118 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
893,818 |
859,779 |
1,016,739 |
352,118 |
|
Taxation |
(88,217) |
(101,257) |
(128,656) |
(40,798) |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
805,601 |
758,522 |
888,082 |
311,320 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||||
|
As
previously reported |
1,964,781 |
1,479,487 |
421,441 |
110,121 |
|
Prior
year adjustment |
- |
(273,228) |
169,964 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
1,964,781 |
1,206,259 |
591,405 |
110,121 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
2,770,382 |
1,964,781 |
1,479,487 |
421,441 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
2,770,382 |
1,964,781 |
1,479,487 |
421,441 |
|
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||||
|
Others |
442,363 |
332,777 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
442,363 |
332,777 |
- |
- |
|
|
============= |
============= |
- |
- |
|
|
KESHAV
GLOBAL PRIVATE LIMITED |
|
Trade
debtors |
10,247,823 |
9,159,481 |
- |
- |
|
Short
term deposits |
2,574,699 |
2,548,562 |
- |
- |
|
Amount
due from related companies |
1,592,743 |
119,640 |
- |
- |
|
Cash
& bank balances |
345,478 |
64,020 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
14,760,743 |
11,891,703 |
11,777,386 |
3,930,200 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
14,760,743 |
11,891,703 |
11,777,386 |
3,930,200 |
|
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
||||
|
Trade
creditors |
1,445,483 |
1,146,285 |
- |
- |
|
Other
creditors & accruals |
22,517 |
861,494 |
- |
- |
|
Other
borrowings |
8,803,779 |
7,251,554 |
- |
- |
|
Deposits
from customers |
461,304 |
437,264 |
- |
- |
|
Provision
for taxation |
102,711 |
105,754 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
10,835,794 |
9,802,351 |
10,126,358 |
3,337,219 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
||||
|
Ordinary
share capital |
296,237 |
124,571 |
171,540 |
171,540 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
296,237 |
124,571 |
171,540 |
171,540 |
|
RESERVES |
||||
|
Share
premium |
858,330 |
- |
- |
- |
|
Retained
profit/(loss) carried forward |
2,770,382 |
1,964,781 |
1,479,487 |
421,441 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
3,628,712 |
1,964,781 |
1,479,487 |
421,441 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
---------------- |
---------------- |
---------------- |
---------------- |
|
|
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
|
============= |
============= |
============= |
============= |
|
|
KESHAV
GLOBAL PRIVATE LIMITED |
|
TYPES
OF FUNDS |
||||
|
Cash |
2,920,177 |
2,612,582 |
- |
- |
|
Net
Liquid Funds |
2,920,177 |
2,612,582 |
- |
- |
|
Net
Liquid Assets |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
Net
Current Assets/(Liabilities) |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
Net
Tangible Assets |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
Net
Monetary Assets |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
PROFIT
& LOSS ITEMS |
||||
|
Earnings
Before Interest & Tax (EBIT) |
1,336,181 |
1,192,556 |
- |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,336,181 |
1,192,556 |
- |
- |
|
BALANCE
SHEET ITEMS |
||||
|
Total
Borrowings |
8,803,779 |
7,251,554 |
- |
- |
|
Total
Liabilities |
10,835,794 |
9,802,351 |
10,126,358 |
3,337,219 |
|
Total
Assets |
14,760,743 |
11,891,703 |
11,777,386 |
3,930,200 |
|
Net
Assets |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
Net
Assets Backing |
3,924,949 |
2,089,352 |
1,651,028 |
592,981 |
|
Shareholders'
Funds |
3,924,949 |
2,089,352 |
1,651,027 |
592,981 |
|
Total
Share Capital |
296,237 |
124,571 |
171,540 |
171,540 |
|
Total
Reserves |
3,628,712 |
1,964,781 |
1,479,487 |
421,441 |
|
LIQUIDITY
(Times) |
||||
|
Cash
Ratio |
0.27 |
0.27 |
- |
- |
|
Liquid
Ratio |
1.36 |
1.21 |
- |
- |
|
Current
Ratio |
1.36 |
1.21 |
1.16 |
1.18 |
|
WORKING
CAPITAL CONTROL (Days) |
||||
|
Stock
Ratio |
0 |
0 |
- |
- |
|
Debtors
Ratio |
112 |
104 |
- |
- |
|
Creditors
Ratio |
16 |
13 |
- |
- |
|
SOLVENCY
RATIOS (Times) |
||||
|
Gearing
Ratio |
2.24 |
3.47 |
- |
- |
|
Liabilities
Ratio |
2.76 |
4.69 |
6.13 |
5.63 |
|
Times
Interest Earned Ratio |
3.02 |
3.58 |
- |
- |
|
Assets
Backing Ratio |
13.25 |
16.77 |
9.62 |
3.46 |
|
PERFORMANCE
RATIO (%) |
||||
|
Operating
Profit Margin |
2.69 |
2.69 |
2.57 |
3.02 |
|
Net
Profit Margin |
2.42 |
2.37 |
2.25 |
2.67 |
|
Return
On Net Assets |
34.04 |
57.08 |
61.58 |
59.38 |
|
Return
On Capital Employed |
34.04 |
57.08 |
61.58 |
59.38 |
|
Return
On Shareholders' Funds/Equity |
20.53 |
36.30 |
53.79 |
52.50 |
|
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.66.63 |
|
|
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.72.40 |
|
SGD |
1 |
Rs.47.44 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.