|
Report No. : |
356283 |
|
Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
PROVIMI SINGAPORE PTE. LTD. |
|
|
|
|
Registered Office : |
138, Market Street, 17-01, Capitagreen, 048946 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.05.2014 |
|
|
|
|
Date of Incorporation : |
201025817-G |
|
|
|
|
Com. Reg. No.: |
201025817-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of animal feed. |
|
|
|
|
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 |
PROVIMI
SINGAPORE PTE. LTD.
|
REGISTRATION
NO. |
: |
201025817-G |
|
COMPANY
NAME |
: |
PROVIMI SINGAPORE PTE. LTD. |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
06/12/2010 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
138,
MARKET STREET, 17-01, CAPITAGREEN, 048946, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
138,
MARKET STREET, 17-01, CAPITAGREEN, 048946, SINGAPORE. |
|
TEL.NO. |
: |
65-62951112 |
|
FAX.NO. |
: |
N/A |
|
WEB
SITE |
: |
WWW.PROVIMI.COM |
|
CONTACT
PERSON |
: |
JEAN-FRANCOIS
MARIE HONORE ( PRESIDENT ) |
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF ANIMAL FEED |
|
ISSUED
AND PAID UP CAPITAL |
: |
500,000.00
ORDINARY SHARE, OF A VALUE OF SGD 500,000.00 |
|
SALES |
: |
USD
2,376,683 [2014] |
|
NET
WORTH |
: |
USD
(5,555,985) [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 |
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 animal feed.
The
immediate holding company of the Subject is CARGILL THE NETHERLANDS HOLDING
B.V., a company incorporated in NETHERLANDS.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
21/10/2015 |
SGD
500,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
CARGILL
THE NETHERLANDS HOLDING B.V. |
EVERT
VAN DE BEEKSTRAAT 378, 1118, CZ SCHIPHOL NETHERLANDS |
T10UF3679 |
500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTOR
1
|
Name
Of Subject |
: |
JEAN-CHRISTOPHE
ANDRE FRANCOIS FILIPPI |
|
Address |
: |
69,
MCNAIR ROAD, TOWNERVILLE, 328548, SINGAPORE. |
|
IC
/ PP No |
: |
G5755384M |
|
Nationality |
: |
FRENCH |
|
Date
of Appointment |
: |
29/08/2013 |
DIRECTOR
2
|
Name
Of Subject |
: |
XU
SANQIN |
|
Address |
: |
28,
SURREY ROAD, 27-02, LINCOLN RESIDENCES, THE, 307762, SINGAPORE. |
|
IC
/ PP No |
: |
S7462062J |
|
Nationality |
: |
CHINESE |
|
Date
of Appointment |
: |
30/06/2014 |
|
1) |
Name
of Subject |
: |
JEAN-FRANCOIS
MARIE HONORE |
|
Position |
: |
PRESIDENT |
|
Auditor |
: |
KPMG
LLP |
|
Auditor'
Address |
: |
N/A |
|
1) |
Company
Secretary |
: |
CHYE
LIAN YEW IAN |
|
IC
/ PP No |
: |
S7532268B |
|
|
Address |
: |
188,
HILLCREST ROAD, HILLCREST PARK, 289070, SINGAPORE. |
|
|
2) |
Company
Secretary |
: |
LING
GEOK BEE |
|
IC
/ PP No |
: |
S7123372C |
|
|
Address |
: |
263,
BISHAN STREET 22, 22-265, 570263, SINGAPORE. |
|
BANKING
No Banker found in our databank.
ENCUMBRANCE
(S)
No encumbrance was found in our databank at the time of investigation.
* 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.
|
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 |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
|
Goods
Traded |
: |
ANIMAL
FEED |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of animal feed.
Provimi is one of the leaders in the international animal feed industry.
The Group's research activities result in improvement of quality and safety
standards, animal welfare and health in an environmental friendly way.
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-62951112 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
138
MARKET STREET #17-01 CAPITA GREEN SINGAPORE |
|
Current
Address |
: |
138,
MARKET STREET, 17-01, CAPITAGREEN, 048946, SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
We contacted one of the staff from the Subject and he provided some
information.
The address provided is incomplete.
The Subject refused to disclose its number of employees, fax number and
bankers.
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2012
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2012
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
28.99% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
30.22% |
] |
|
|
The continuous fall in turnover could be due
to the lower demand for the Subject's products / services.The Subject could
be more efficient in controlling its operating costs and had managed to
reduce its losses during the year. 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 |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
0
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
15
Days |
] |
|
|
As the Subject is a service oriented
company, the Subject does not need to keep 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 |
[ |
0.13
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
0.13
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 : |
||||||
|
Although the Subject's turnover decreased,
its losses also decreased during the year. This could be the result of more
efficient control in its operating costs. 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 : POOR |
||||||
|
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
: |
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 |
|
|
Incorporated in 2010, the Subject is a Private
Limited company, focusing on trading of animal feed. The Subject has been in
business for less than 5 years and it has slowly been building up contact
with its clients while competing in the industry. However, it has yet to
enjoy a stable market shares as it need to compete many well established
players in the same field. The Subject have a strong support from its
shareholder. However, the Subject does not have a strong capital position.
Without a strong capital, the Subject may face difficulties to expand its
business compared to other large corporation.
|
|
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
PROVIMI
SINGAPORE PTE. LTD. |
|
Financial
Year End |
2014-05-31 |
2013-05-31 |
2012-05-31 |
|
Months |
12 |
12 |
18 |
|
Consolidated
Account |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
|
TURNOVER |
2,376,683 |
10,326,408 |
18,316,658 |
|
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
2,376,683 |
10,326,408 |
18,316,658 |
|
Costs
of Goods Sold |
(2,258,167) |
(9,659,502) |
(17,102,697) |
|
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
118,516 |
666,906 |
1,213,961 |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(1,679,018) |
(2,149,944) |
(2,202,864) |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(1,679,018) |
(2,149,944) |
(2,202,864) |
|
Taxation |
68,311 |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(1,610,707) |
(2,149,944) |
(2,202,864) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||
|
As
previously reported |
(4,352,808) |
(2,202,864) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(4,352,808) |
(2,202,864) |
- |
|
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(5,963,515) |
(4,352,808) |
(2,202,864) |
|
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(5,963,515) |
(4,352,808) |
(2,202,864) |
|
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||
|
DEPRECIATION
(as per notes to P&L) |
91,131 |
20,423 |
23,711 |
|
---------------- |
---------------- |
---------------- |
|
|
91,131 |
20,423 |
23,711 |
|
|
============= |
============= |
============= |
|
PROVIMI
SINGAPORE PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||
|
FIXED
ASSETS |
20,281 |
111,412 |
131,835 |
|
Deferred
assets |
68,311 |
- |
- |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
68,311 |
- |
- |
|
Computer
software |
117,377 |
166,567 |
215,757 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
117,377 |
166,567 |
215,757 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
205,969 |
277,979 |
347,592 |
|
Stocks |
- |
76,489 |
38,155 |
|
Trade
debtors |
- |
41,600 |
359,965 |
|
Other
debtors, deposits & prepayments |
228,346 |
175,239 |
158,082 |
|
Amount
due from holding company |
337,560 |
- |
- |
|
Amount
due from related companies |
83,547 |
312,026 |
108,423 |
|
Cash
& bank balances |
220,856 |
670,904 |
1,968,601 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
870,309 |
1,276,258 |
2,633,226 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
1,076,278 |
1,554,237 |
2,980,818 |
|
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||
|
Trade
creditors |
95,101 |
1,666,702 |
1,149,066 |
|
Other
creditors & accruals |
1,673,879 |
634,729 |
295,035 |
|
Other
liabilities & accruals |
4,586,612 |
2,858,512 |
8,820 |
|
Amounts
owing to holding company |
- |
- |
26,521 |
|
Amounts
owing to related companies |
276,671 |
359,241 |
3,316,379 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
6,632,263 |
5,519,184 |
4,795,821 |
|
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(5,761,954) |
(4,242,926) |
(2,162,595) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
(5,555,985) |
(3,964,947) |
(1,815,003) |
|
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||
|
Ordinary
share capital |
387,861 |
387,861 |
387,861 |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
387,861 |
387,861 |
387,861 |
|
Capital
reserve |
19,669 |
- |
- |
|
Retained
profit/(loss) carried forward |
(5,963,515) |
(4,352,808) |
(2,202,864) |
|
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(5,943,846) |
(4,352,808) |
(2,202,864) |
|
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(5,555,985) |
(3,964,947) |
(1,815,003) |
|
---------------- |
---------------- |
---------------- |
|
|
(5,555,985) |
(3,964,947) |
(1,815,003) |
|
|
============= |
============= |
============= |
|
|
PROVIMI
SINGAPORE PTE. LTD. |
|
TYPES
OF FUNDS |
|||
|
Cash |
220,856 |
670,904 |
1,968,601 |
|
Net
Liquid Funds |
220,856 |
670,904 |
1,968,601 |
|
Net
Liquid Assets |
(5,761,954) |
(4,319,415) |
(2,200,750) |
|
Net
Current Assets/(Liabilities) |
(5,761,954) |
(4,242,926) |
(2,162,595) |
|
Net
Tangible Assets |
(5,673,362) |
(4,131,514) |
(2,030,760) |
|
Net
Monetary Assets |
(5,761,954) |
(4,319,415) |
(2,200,750) |
|
PROFIT
& LOSS ITEMS |
|||
|
Earnings
Before Interest & Tax (EBIT) |
(1,679,018) |
(2,149,944) |
(2,202,864) |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(1,587,887) |
(2,129,521) |
(2,179,153) |
|
BALANCE
SHEET ITEMS |
|||
|
Total
Borrowings |
0 |
0 |
0 |
|
Total
Liabilities |
6,632,263 |
5,519,184 |
4,795,821 |
|
Total
Assets |
1,076,278 |
1,554,237 |
2,980,818 |
|
Net
Assets |
(5,555,985) |
(3,964,947) |
(1,815,003) |
|
Net
Assets Backing |
(5,555,985) |
(3,964,947) |
(1,815,003) |
|
Shareholders'
Funds |
(5,555,985) |
(3,964,947) |
(1,815,003) |
|
Total
Share Capital |
387,861 |
387,861 |
387,861 |
|
Total
Reserves |
(5,943,846) |
(4,352,808) |
(2,202,864) |
|
LIQUIDITY
(Times) |
|||
|
Cash
Ratio |
0.03 |
0.12 |
0.41 |
|
Liquid
Ratio |
0.13 |
0.22 |
0.54 |
|
Current
Ratio |
0.13 |
0.23 |
0.55 |
|
WORKING
CAPITAL CONTROL (Days) |
|||
|
Stock
Ratio |
0 |
3 |
1 |
|
Debtors
Ratio |
0 |
1 |
7 |
|
Creditors
Ratio |
15 |
63 |
25 |
|
SOLVENCY
RATIOS (Times) |
|||
|
Gearing
Ratio |
0 |
0 |
0 |
|
Liabilities
Ratio |
(1.19) |
(1.39) |
(2.64) |
|
Times
Interest Earned Ratio |
0 |
0 |
0 |
|
Assets
Backing Ratio |
(14.63) |
(10.65) |
(5.24) |
|
PERFORMANCE
RATIO (%) |
|||
|
Operating
Profit Margin |
(70.65) |
(20.82) |
(12.03) |
|
Net
Profit Margin |
(67.77) |
(20.82) |
(12.03) |
|
Return
On Net Assets |
30.22 |
54.22 |
121.37 |
|
Return
On Capital Employed |
30.87 |
56.60 |
137.74 |
|
Return
On Shareholders' Funds/Equity |
28.99 |
54.22 |
121.37 |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
|
NOTES
TO ACCOUNTS |
|||
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.30 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.72.33 |
|
SGD |
1 |
Rs. 47.00 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.