|
Report No. : |
353732 |
|
Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUNNIC TECHNOLOGY & MERCHANDISE (S) PTE. LTD. |
|
|
|
|
Registered Office : |
28, Kallang Place, 04-16/17, 339158 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
22.06.2010 |
|
|
|
|
Com. Reg. No.: |
201013177-K |
|
|
|
|
Legal Form : |
Private limited |
|
|
|
|
Line of Business : |
The Subject engaged in trading of electronic components. |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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. |
: |
201013177-K |
|
COMPANY NAME |
: |
SUNNIC TECHNOLOGY & MERCHANDISE (S) PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
22/06/2010 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
28, KALLANG PLACE, 04-16/17, 339158, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
28, KALLANG PLACE, 04-16/17, 339158, SINGAPORE. |
|
TEL.NO. |
: |
65-62912858 |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
CHIEN SHENG-HAO ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF ELECTRONIC COMPONENTS |
|
ISSUED AND PAID UP CAPITAL |
: |
1,420,000.00 ORDINARY SHARE, OF A VALUE OF SGD
1,420,000.00 |
|
SALES |
: |
USD 1,317,986 [2014] |
|
NET WORTH |
: |
USD (141,333) [2014] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
POOR |
|
PAYMENT |
: |
SLOW |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
MODERATE |
|
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) trading
of electronic components.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
09/12/2015 |
SGD 1,420,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SUNNIC TECHNOLOGY (SAMOA) INC. |
PORTCULLIS TRUSTNET CHAMBERS, P.O. BOX 1225, APIA |
T12UF2775 |
1,420,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
1,420,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
CHIEN SHENG-HAO |
|
Address |
: |
28, KALLANG PLACE, 04-16/17, 339158, SINGAPORE. |
|
IC / PP No |
: |
G5040341L |
|
Nationality |
: |
TAIWANESE |
|
Date of Appointment |
: |
07/10/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
CHIEN KANG-MIN |
|
Address |
: |
38-03, GUGONG ROAD, SHILIN DIST., TAIPEI CITY 111, TAIWAN. |
|
IC / PP No |
: |
306156697 |
|
Nationality |
: |
TAIWANESE |
|
Date of Appointment |
: |
22/06/2010 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
CHIEN SHENG-HAO |
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
AUDITOR
|
|
Auditor |
: |
EDWIN TAY & CO. |
|
Auditor' Address |
: |
N/A |
|
|
|
|
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
TENG SEOK GOH |
|
IC / PP No |
: |
S2010054J |
|
|
Address |
: |
17, JUBILEE ROAD, 128549, 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 |
: |
YES |
|
Overseas |
: |
YES |
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 |
[ |
] |
Average 61-90 Days |
[ |
X |
] |
|||||
|
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 |
: |
ELECTRONIC COMPONENTS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of electronic
components.
The Subject refused to disclose its operation.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62912858 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
28 KALLANG PLACE #04-16/17 339158 SINGAPORE |
|
Current Address |
: |
28, KALLANG PLACE, 04-16/17, 339158, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided
some information.
The Subject refused to disclose its fax number, number of employees and
bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
31.75% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
(23.39%) |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
158.73% |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
154.89% |
] |
|
|
The shrinking turnover could be the result of more entrants into
the market which eroded the Subject's market share.Higher losses before tax during
the year could be due to the higher operating costs incurred. Although the
Subject's returns showed positive figures it is not reflective of the true
situation. The Subject incurred losses during the year and its shareholders'
funds have turned red. The positive returns on shareholders' funds is the
result of losses divided by negative shareholders' funds. The Subject's
management was inefficient in utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
7 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
8 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
7 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost.
This had reduced funds being tied up in stocks. The favourable debtors' days
could be due to the good credit control measures implemented by the Subject.
The Subject had a favourable creditors' ratio where the Subject could be
taking advantage of the cash discounts and also wanting to maintain goodwill
with its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.50 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.57 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short
term obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(40.32 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
(0.03 Times) |
] |
|
|
The Subject incurred losses in the year. It did not generate sufficient
income to service its interest. If the situation does not improve, the
Subject may be vulnerable to default in servicing the interest. The Subject's
gearing was negative during the year as its shareholders' funds was in the
red. This means the Subject is running its business using borrowed money. We
consider the Subject as facing high financial risks. |
||||||
|
Overall Assessment : |
||||||
|
The Subject's losses could be attributed to the lower turnover which
in turn could be the result of unfavourable market conditions. Due to its
weak liquidity position, the Subject will be faced with problems in meeting
all its short term obligations if no short term loan is obtained or
additional capital injected into the Subject. The Subject's interest cover
was negative, indicating that it did not generate sufficient income to
service its interest. If its result does not show impressive improvements or
succeed obtaining short term financing or capital injection, it may not be
able to service its interest and repay the loans. The Subject has high
financial risks. If its shareholders do not inject more capital into the
company or if its business performance does not improve, its going concern
may be in question. |
||||||
|
Overall financial condition of the Subject : POOR |
||||||
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. |
|
SUNNIC TECHNOLOGY & MERCHANDISE (S) PTE. LTD. |
|
Financial Year End |
2014-12-31 |
2013-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
1,317,986 |
1,931,246 |
|
Other Income |
32 |
1,077 |
|
---------------- |
---------------- |
|
|
Total Turnover |
1,318,018 |
1,932,323 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(224,343) |
(181,814) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(224,343) |
(181,814) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(224,343) |
(181,814) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(705,155) |
(523,341) |
|
---------------- |
---------------- |
|
|
As restated |
(705,155) |
(523,341) |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(929,498) |
(705,155) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(929,498) |
(705,155) |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Hire purchase |
567 |
574 |
|
Term loan / Borrowing |
4,863 |
615 |
|
---------------- |
---------------- |
|
|
5,430 |
1,189 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
30,042 |
29,088 |
|
---------------- |
---------------- |
|
|
30,042 |
29,088 |
|
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
SUNNIC TECHNOLOGY & MERCHANDISE (S) PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
9,871 |
35,020 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
9,871 |
35,020 |
|
Stocks |
25,830 |
72,417 |
|
Trade debtors |
28,309 |
71,683 |
|
Other debtors, deposits & prepayments |
11,732 |
11,047 |
|
Cash & bank balances |
136,798 |
273,165 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
202,669 |
428,312 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
212,540 |
463,332 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
23,689 |
154,966 |
|
Other creditors & accruals |
26,154 |
15,282 |
|
Hire purchase & lease creditors |
4,030 |
6,044 |
|
Amounts owing to holding company |
300,000 |
200,000 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
353,873 |
376,292 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(151,204) |
52,020 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
(141,333) |
87,040 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
788,165 |
788,165 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
788,165 |
788,165 |
|
Retained profit/(loss) carried forward |
(929,498) |
(705,155) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(929,498) |
(705,155) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(141,333) |
83,010 |
|
Hire purchase creditors |
- |
4,030 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
- |
4,030 |
|
---------------- |
---------------- |
|
|
(141,333) |
87,040 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
SUNNIC TECHNOLOGY & MERCHANDISE (S) PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
136,798 |
273,165 |
|
Net Liquid Funds |
136,798 |
273,165 |
|
Net Liquid Assets |
(177,034) |
(20,397) |
|
Net Current Assets/(Liabilities) |
(151,204) |
52,020 |
|
Net Tangible Assets |
(141,333) |
87,040 |
|
Net Monetary Assets |
(177,034) |
(24,427) |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
(218,913) |
(180,625) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
(188,871) |
(151,537) |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
4,030 |
10,074 |
|
Total Liabilities |
353,873 |
380,322 |
|
Total Assets |
212,540 |
463,332 |
|
Net Assets |
(141,333) |
87,040 |
|
Net Assets Backing |
(141,333) |
83,010 |
|
Shareholders' Funds |
(141,333) |
83,010 |
|
Total Share Capital |
788,165 |
788,165 |
|
Total Reserves |
(929,498) |
(705,155) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.39 |
0.73 |
|
Liquid Ratio |
0.50 |
0.95 |
|
Current Ratio |
0.57 |
1.14 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
7 |
14 |
|
Debtors Ratio |
8 |
14 |
|
Creditors Ratio |
7 |
29 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
(0.03) |
0.12 |
|
Liabilities Ratio |
(2.50) |
4.58 |
|
Times Interest Earned Ratio |
(40.32) |
(151.91) |
|
Assets Backing Ratio |
(0.18) |
0.11 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
(17.02) |
(9.41) |
|
Net Profit Margin |
(17.02) |
(9.41) |
|
Return On Net Assets |
154.89 |
(207.52) |
|
Return On Capital Employed |
159.44 |
(194.05) |
|
Return On Shareholders' Funds/Equity |
158.73 |
(219.03) |
|
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.66.99 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.73.47 |
|
SGD |
1 |
Rs.47.58 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
TRU |
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.