MIRA INFORM REPORT

 

 

Report No. :

356448

Report Date :

23.12.2015

 

IDENTIFICATION DETAILS

 

Name :

FEI COMPANY OF USA (S.E.A.) PTE LTD

 

 

Registered Office :

1, Jalan Kilang Timor, 04-02, Pacific Tech Centre, 159303

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

08.09.1999

 

 

Com. Reg. No.:

199905328-N

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading and Repair of Engineering and Scientific Instruments.

 

 

No. of Employees :

40 [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 :

No Complaints

 

 

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.

:

199905328-N

COMPANY NAME

:

FEI COMPANY OF USA (S.E.A.) PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

08/09/1999

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

1, JALAN KILANG TIMOR, 04-02, PACIFIC TECH CENTRE, 159303, SINGAPORE.

BUSINESS ADDRESS

:

1, JALAN KILANG TIMOR, 04-02, PACIFIC TECH CENTRE, 159303, SINGAPORE.

TEL.NO.

:

65-62720050

FAX.NO.

:

65-62720034

CONTACT PERSON

:

LIM TIONG BENG ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING AND REPAIR OF ENGINEERING AND SCIENTIFIC INSTRUMENTS

ISSUED AND PAID UP CAPITAL

:

1,261,930.00 ORDINARY SHARE, OF A VALUE OF SGD 1,261,930.00

SALES

:

SGD 64,776,505 [2014]

NET WORTH

:

SGD 7,767,291 [2014]

STAFF STRENGTH

:

40 [2015]

BANKER (S)

:

ABN AMRO BANK N.V.

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

FAIR

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) trading and repair of engineering and scientific instruments.

 

The immediate holding company of the Subject is FEI CPD B.V., a company incorporated in NETHERLANDS.

 

Share Capital History

Date

Issue & Paid Up Capital

22/12/2015

SGD 1,261,930.00

 

The major shareholder(s) of the Subject are shown as follows :


Current Shareholder(s) :

Name

Address

IC/PP/Loc No

Shareholding

(%)

FEI CPD B.V.

ACHTSEWEG NOORD 5, GEBOUW AAE, 5651, GG, EINDHOVEN NETHERLANDS

T15UF5697

1,261,930.00

100.00

---------------

------

1,261,930.00

100.00

============

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

JING YIREN

Address

:

7, MARYMOUNT TERRACE, 13-05, TRESALVEO, 573963, SINGAPORE.

IC / PP No

:

S6869211C

Nationality

:

SINGAPOREAN

Date of Appointment

:

14/04/2015

 

DIRECTOR 2

 

Name Of Subject

:

LIM TIONG BENG

Address

:

2, GUOK AVENUE, 119632, SINGAPORE.

IC / PP No

:

S1073678A

Nationality

:

SINGAPOREAN

Date of Appointment

:

24/02/2006



MANAGEMENT

 

 

1)

Name of Subject

:

LIM TIONG BENG

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

NEXIA TS PUBLIC ACCOUNTING CORPORATION

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

KELOTH RAJ KUMAR

IC / PP No

:

S1707500D

Address

:

192, PASIR RIS STREET 12, 04-14, 510192, SINGAPORE.

 

 

 

BANKING


Banking relations are maintained principally with :

1)

Name

:

ABN AMRO BANK N.V.

 

 

 

ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C200803105

03/04/2008

N/A

THE ROYAL BANK OF SCOTLAND N.V.

-

Unsatisfied

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

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

[

X

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

ENGINEERING AND SCIENTIFIC INSTRUMENTS

 

Total Number of Employees:

YEAR

2015

2014

GROUP

N/A

N/A

COMPANY

40

32

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading and repair of engineering and scientific instruments.

The Subject refused to disclose its operation.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

6562720050

Current Telephone Number

:

65-62720050

Match

:

YES

Address Provided by Client

:

1, JALAN KILANG TIMOR, 04-02, PACIFIC TECH CENTRE,159303,SINGAPORE

Current Address

:

1, JALAN KILANG TIMOR, 04-02, PACIFIC TECH CENTRE, 159303, SINGAPORE.

Match

:

YES

 

Other Investigations


We contacted one of the staff from the Subject and she provided some information.


FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Erratic

[

2010 - 2014

]

Profit/(Loss) Before Tax

:

Decreased

[

2010 - 2014

]

Return on Shareholder Funds

:

Acceptable

[

11.88%

]

Return on Net Assets

:

Acceptable

[

10.84%

]

The fluctuating turnover reflects the fierce competition among the existing and new market players.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. The Subject's management had generated acceptable return for its shareholders using its assets.

Working Capital Control

Stock Ratio

:

Favourable

[

22 Days

]

Debtor Ratio

:

Unfavourable

[

138 Days

]

Creditors Ratio

:

Favourable

[

6 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in 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

[

1.16 Times

]

Current Ratio

:

Unfavourable

[

1.26 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

:

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. 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 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

 


Incorporated in 1999, the Subject is a Private Limited company, focusing on trading and repair of engineering and scientific instruments. Having been in the industry for over a decade, the Subject has achieved a certain market share and has built up a satisfactory reputation in the market. It should have received supports from its regular customers. A paid up capital of SGD 1,261,930 allows the Subject to expand its business more comfortably. With a strong backing from its holding company, the Subject enjoys timely financial assistance should the needs arise.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. The Subject is operating on a medium scale and it has approximately 40 employees in its business operations. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

Financially, the Subject registered a higher turnover compared to previous year. However, its profits showed a reverse trend. The lower profit achieved was a result of higher operating cost and increased competition. Return on shareholders' funds of the Subject was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at SGD 7,767,291, the Subject should be able to maintain its business in the near terms.

The Subject's supplier are from both the local and overseas countries. This will eliminates the risk of dependency on deliveries from a number of key suppliers and insufficient quantities of its raw materials. Overall the Subject has a good control over its resources.

Overall, the Subject's payment habit is good as the Subject has a good credit control and it could be taking advantage of the cash discounts while maintaining a good reputation with its creditors.

The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.

Based on the above condition, we recommend credit be granted to the Subject promptly.

 



PROFIT AND LOSS ACCOUNT

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

FEI COMPANY OF USA (S.E.A.) 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

64,776,505

58,308,462

98,731,093

74,786,030

65,233,334

----------------

----------------

----------------

----------------

----------------

Total Turnover

64,776,505

58,308,462

98,731,093

74,786,030

65,233,334

Costs of Goods Sold

(52,226,502)

(44,677,753)

(80,807,153)

(58,432,646)

-

----------------

----------------

----------------

----------------

----------------

Gross Profit

12,550,003

13,630,709

17,923,940

16,353,384

-

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

1,060,940

1,191,019

2,284,854

1,054,462

1,408,735

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

1,060,940

1,191,019

2,284,854

1,054,462

1,408,735

Taxation

(138,265)

(43,900)

(323,688)

(92,408)

(213,907)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

922,675

1,147,119

1,961,166

962,054

1,194,828

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

5,582,686

4,435,567

2,474,401

1,512,347

317,519

----------------

----------------

----------------

----------------

----------------

As restated

5,582,686

4,435,567

2,474,401

1,512,347

317,519

----------------

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

6,505,361

5,582,686

4,435,567

2,474,401

1,512,347

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

6,505,361

5,582,686

4,435,567

2,474,401

1,512,347

=============

=============

=============

=============

=============

INTEREST EXPENSE (as per notes to P&L)

DEPRECIATION (as per notes to P&L)

160,495

170,044

127,996

82,415

-

----------------

----------------

----------------

----------------

----------------

160,495

170,044

127,996

82,415

-

=============

=============

=============

=============

 

 

 

BALANCE SHEET

 

 

FEI COMPANY OF USA (S.E.A.) PTE LTD

 

ASSETS EMPLOYED:

FIXED ASSETS

179,518

223,362

325,069

178,647

213,292

Deferred assets

100,021

71,106

85,260

93,197

-

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

100,021

71,106

85,260

93,197

-

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

279,539

294,468

410,329

271,844

213,292

Stocks

3,787,413

4,904,657

6,517,211

5,113,342

-

Contract work-in-progress

43,854

89,817

-

-

-

Trade debtors

24,539,728

12,519,357

31,223,478

21,170,416

-

Other debtors, deposits & prepayments

665,875

542,772

766,971

1,174,785

-

Short term deposits

6,424,740

6,966,286

5,034,268

16,307,776

-

Amount due from holding company

208,722

34,389

-

-

-

Amount due from related companies

1,415,442

766,208

-

-

-

Cash & bank balances

9,038,731

4,004,252

11,799,125

2,276,644

-

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT ASSETS

46,124,505

29,827,738

55,341,053

46,042,963

30,615,048

----------------

----------------

----------------

----------------

----------------

TOTAL ASSET

46,404,044

30,122,206

55,751,382

46,314,807

30,828,340

=============

=============

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

847,826

1,142,874

37,519,949

30,770,374

-

Other creditors & accruals

9,318,608

8,025,843

10,814,482

10,466,603

-

Amounts owing to holding company

6,663,457

1,440,848

-

-

-

Amounts owing to related companies

19,122,341

9,717,132

-

-

-

Provision for taxation

155,660

71,081

337,319

151,905

-

Other liabilities

505,642

399,951

525,275

549,227

-

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

36,613,534

20,797,729

49,197,025

41,938,109

27,392,404

----------------

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

9,510,971

9,030,009

6,144,028

4,104,854

3,222,644

----------------

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

9,790,510

9,324,477

6,554,357

4,376,698

3,435,936

=============

=============

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

1,261,930

1,261,930

1,261,930

1,261,930

1,261,930

----------------

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

1,261,930

1,261,930

1,261,930

1,261,930

1,261,930

Retained profit/(loss) carried forward

6,505,361

5,582,686

4,435,567

2,474,401

1,512,347

----------------

----------------

----------------

----------------

----------------

TOTAL RESERVES

6,505,361

5,582,686

4,435,567

2,474,401

1,512,347

----------------

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

7,767,291

6,844,616

5,697,497

3,736,331

2,774,277

Others

2,023,219

2,479,861

856,860

640,367

-

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM LIABILITIES

2,023,219

2,479,861

856,860

640,367

661,659

----------------

----------------

----------------

----------------

----------------

9,790,510

9,324,477

6,554,357

4,376,698

3,435,936

=============

=============

=============

=============

=============

 

 

 

FINANCIAL RATIO

 

 

FEI COMPANY OF USA (S.E.A.) PTE LTD

 

TYPES OF FUNDS

Cash

15,463,471

10,970,538

16,833,393

18,584,420

-

Net Liquid Funds

15,463,471

10,970,538

16,833,393

18,584,420

-

Net Liquid Assets

5,723,558

4,125,352

(373,183)

(1,008,488)

3,222,644

Net Current Assets/(Liabilities)

9,510,971

9,030,009

6,144,028

4,104,854

3,222,644

Net Tangible Assets

9,790,510

9,324,477

6,554,357

4,376,698

3,435,936

Net Monetary Assets

3,700,339

1,645,491

(1,230,043)

(1,648,855)

2,560,985

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

1,060,940

1,191,019

2,284,854

1,054,462

-

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

1,221,435

1,361,063

2,412,850

1,136,877

-

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

0

-

Total Liabilities

38,636,753

23,277,590

50,053,885

42,578,476

28,054,063

Total Assets

46,404,044

30,122,206

55,751,382

46,314,807

30,828,340

Net Assets

9,790,510

9,324,477

6,554,357

4,376,698

3,435,936

Net Assets Backing

7,767,291

6,844,616

5,697,497

3,736,331

2,774,277

Shareholders' Funds

7,767,291

6,844,616

5,697,497

3,736,331

2,774,277

Total Share Capital

1,261,930

1,261,930

1,261,930

1,261,930

1,261,930

Total Reserves

6,505,361

5,582,686

4,435,567

2,474,401

1,512,347

LIQUIDITY (Times)

Cash Ratio

0.42

0.53

0.34

0.44

-

Liquid Ratio

1.16

1.20

0.99

0.98

-

Current Ratio

1.26

1.43

1.12

1.10

1.12

WORKING CAPITAL CONTROL (Days)

Stock Ratio

22

31

24

25

-

Debtors Ratio

138

78

115

103

-

Creditors Ratio

6

9

169

192

-

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

0

0

-

Liabilities Ratio

4.97

3.40

8.79

11.40

10.11

Times Interest Earned Ratio

0

0

0

0

-

Assets Backing Ratio

7.76

7.39

5.19

3.47

2.72

PERFORMANCE RATIO (%)

Operating Profit Margin

1.64

2.04

2.31

1.41

2.16

Net Profit Margin

1.42

1.97

1.99

1.29

1.83

Return On Net Assets

10.84

12.77

34.86

24.09

41.00

Return On Capital Employed

10.84

12.77

34.86

24.09

41.00

Return On Shareholders' Funds/Equity

11.88

16.76

34.42

25.75

43.07

Dividend Pay Out Ratio (Times)

0

0

0

0

-

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0

0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.30

UK Pound

1

Rs.98.71

Euro

1

Rs.72.33

SGD

1

Rs.47.04

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.