|
Report No. : |
356160 |
|
Report Date : |
23.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHANYOS PTE. LTD. |
|
|
|
|
Registered Office : |
111, North Bridge Road, 11-01, Peninsula Plaza, 179098 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
30.06.2013 |
|
|
|
|
Date of Incorporation : |
21.06.2005 |
|
|
|
|
Com. Reg. No.: |
200508463-N |
|
|
|
|
Legal Form : |
Exempt private |
|
|
|
|
Line of Business : |
The Subject engaged in wholesale of electrical appliances. |
|
|
|
|
No. of Employee : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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. |
: |
200508463-N |
||||
|
COMPANY NAME |
: |
SHANYOS PTE. LTD. |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION DATE |
: |
21/06/2005 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
EXEMPT PRIVATE |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED ADDRESS |
: |
111, NORTH BRIDGE ROAD, 11-01, PENINSULA PLAZA, 179098,
SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
111, NORTH BRIDGE ROAD, 11-01, PENINSULA PLAZA, 179098,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-63374881 |
||||
|
FAX.NO. |
: |
65-63374882 |
||||
|
WEB SITE |
: |
WWW.SHANYOS.COM.SG |
||||
|
CONTACT PERSON |
: |
JAGDESH ATMARAM TEWANI ( DIRECTOR ) |
||||
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF ELECTRICAL APPLIANCES |
||||
|
ISSUED AND PAID UP CAPITAL |
: |
1,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD
1,000,000.00 |
||||
|
SALES |
: |
USD 57,632,939 [2013] |
||||
|
NET WORTH |
: |
USD 2,253,078 [2013] |
||||
|
STAFF STRENGTH |
: |
10 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
UNKNOWN |
||||
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL RISK |
: |
MODERATE |
||||
|
CURRENCY EXPOSURE |
: |
MODERATE |
||||
|
GENERAL REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
The Subject is an exempt private company whose shares are not held
by any corporate body and has no more than 20 shareholders who are all natural persons.
An exempt company is a type of private limited company. 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, suing
or be sued by other companies. An exempt private company with an annual
turnover of less than SGD5 million are exempted from statutory auditing
requirements. Instead of filing audited annual accounts, the Subject has to
file in a document duly signed by its director in charge of its finance and the
company secretary stating that the Subject is able to meet all its obligations
as and when they fall due. The Subject is not required to have their accounts
audited. However, the Subject will prepare unaudited accounts for purposes of
AGMs and filing with Registry Office if it is unable to meet all its
obligations as and when they fall due .
The Subject is principally engaged in the (as a / as an) wholesale
of electrical appliances.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
02/12/2015 |
SGD 1,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
MR. JAGDESH ATMARAM TEWANI + |
9, AMBER ROAD, 08-02, PARKWAY MANSION, 439854, SINGAPORE. |
S1725166Z |
999,999.00 |
100.00 |
|
MRS. SHALINI JAGDESH TEWANI + |
9, AMBER ROAD, 08-02, PARKWAY MANSION, 439854, SINGAPORE. |
S7270992F |
1.00 |
0.00 |
|
--------------- |
------ |
|||
|
1,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MRS. SHALINI JAGDESH TEWANI |
|
Address |
: |
9, AMBER ROAD, 08-02, PARKWAY MANSION, 439854, SINGAPORE. |
|
IC / PP No |
: |
S7270992F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
21/06/2005 |
DIRECTOR 2
|
Name Of Subject |
: |
MR. JAGDESH ATMARAM TEWANI |
|
Address |
: |
9, AMBER ROAD, 08-02, PARKWAY MANSION, 439854, SINGAPORE. |
|
IC / PP No |
: |
S1725166Z |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
21/06/2005 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
JAGDESH ATMARAM TEWANI |
|
Position |
: |
DIRECTOR |
|
|
|
|
|
|
AUDITOR
|
No Auditor found in our databank
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
ARUMUGAM CHETTIAR MANICKAM |
|
IC / PP No |
: |
S0537812E |
|
|
Address |
: |
184, STIRLING ROAD, 07-242, 140184, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
NANCY JULIA ZEHNDER |
|
IC / PP No |
: |
S0240727B |
|
|
Address |
: |
58, DAKOTA CRESCENT, 02-257, 390058, SINGAPORE. |
|
|
|
|
|
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
UNITED OVERSEAS BANK LIMITED |
|
2) |
Name |
: |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
ENCUMBRANCE
(S)
|
|
Charge No |
Creation Date |
Charge Description |
Chargee Name |
Total Charge |
Status |
|
C201101458 |
01/02/2011 |
N/A |
UNITED OVERSEAS BANK LIMITED |
- |
Unsatisfied |
|
C201408963 |
21/08/2014 |
N/A |
OVERSEA-CHINESE BANKING CORPORATION LIMITED |
- |
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to provide any information on its supplier.
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 |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
X |
] |
Poor >120 Days |
[ |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
TV, PLAYER, HI-FI SYSTEM, CAR STEREOS AND OTHER ELECTRICAL
EQUIPMENTS |
|
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2013 |
2012 |
||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
||||||
|
COMPANY |
10 |
9 |
8 |
||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
electrical appliances.
The Subject is distributor of Consumer Electronics products from world-class
brands like Toshiba, Sharp, Sony, Hitachi, Pioneer, Samsung, Panasonic, Daewoo,
Sanyo with a large consumer base in Asia, Europe, Middle East and South Africa
and gray scale markets.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated
that :
|
Telephone Number Provided By Client |
: |
6563374881 |
|
Current Telephone Number |
: |
65-63374881 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
111, NORTH BRIDGE ROAD, 11-01, PENINSULA PLAZA,179098,SINGAPORE |
|
Current Address |
: |
111, NORTH BRIDGE ROAD, 11-01, PENINSULA PLAZA, 179098, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL
ANALYSIS
|
|
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
47.48% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
72.86% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
19.92% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
41.33% |
] |
|
|
The increase in turnover could be due to the Subject adopting an
aggressive marketing strategy.The higher profit could be attributed to the
increase in turnover. The Subject's management had generated acceptable
return for its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Acceptable |
[ |
61 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
44 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
62 Days |
] |
|
|
The Subject kept adequate stocks to meet its normal business
transactions without incurring excessive storage costs. The favourable
debtors' days could be due to the good credit control measures implemented by
the Subject. The unfavourable creditors' ratio could be due to the Subject
taking advantage of the credit granted by its suppliers. However this may
affect the goodwill between the Subject and its suppliers and the Subject may
inadvertently have to pay more for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Unfavourable |
[ |
0.47 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.03 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 |
[ |
2.09 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
2.65 Times |
] |
|
|
The Subject's interest cover was low. If its profits fall or
when interest rate rises, it may not be able to meet all its interest payment.
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 : |
||||||
|
Generally, the Subject's performance has improved with higher
turnover and profit. 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. If there is a
fall in the Subject's profit or any increase in interest rate, the Subject
may not be able to generate sufficient cash-flow to service its interest. 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 : LIMITED |
||||||
|
|
||||||
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. |
|
SHANYOS PTE. LTD. |
|
Financial Year End |
2013-06-30 |
2012-06-30 |
|
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 |
57,632,939 |
39,077,567 |
|
Other Income |
145,251 |
235,891 |
|
---------------- |
---------------- |
|
|
Total Turnover |
57,778,190 |
39,313,458 |
|
Costs of Goods Sold |
(55,906,700) |
(37,879,045) |
|
---------------- |
---------------- |
|
|
Gross Profit |
1,871,490 |
1,434,413 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
486,534 |
281,461 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
486,534 |
281,461 |
|
Taxation |
(37,745) |
(14,955) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
448,789 |
266,506 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
1,109,845 |
843,339 |
|
---------------- |
---------------- |
|
|
As restated |
1,109,845 |
843,339 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,558,634 |
1,109,845 |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,558,634 |
1,109,845 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
444,661 |
436,099 |
|
---------------- |
---------------- |
|
|
444,661 |
436,099 |
|
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
SHANYOS PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
1,688,481 |
1,742,072 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,688,481 |
1,742,072 |
|
Stocks |
9,696,765 |
4,671,167 |
|
Trade debtors |
6,989,191 |
1,542,426 |
|
Other debtors, deposits & prepayments |
3,001 |
2,768 |
|
Loans & advances - current portion |
256,531 |
650,350 |
|
Cash & bank balances |
613,150 |
487,718 |
|
Others |
127,259 |
89,789 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
17,685,897 |
7,444,218 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
19,374,378 |
9,186,290 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
9,566,286 |
773,323 |
|
Other creditors & accruals |
267,477 |
76,170 |
|
Bank overdraft |
31,381 |
16,782 |
|
Other borrowings |
5,947,262 |
5,109,953 |
|
Amounts owing to director |
- |
29,634 |
|
Provision for taxation |
37,160 |
51,268 |
|
Other liabilities |
1,271,734 |
1,324,871 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
17,121,300 |
7,382,001 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
564,597 |
62,217 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,253,078 |
1,804,289 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
694,444 |
694,444 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
694,444 |
694,444 |
|
Retained profit/(loss) carried forward |
1,558,634 |
1,109,845 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,558,634 |
1,109,845 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,253,078 |
1,804,289 |
|
---------------- |
---------------- |
|
|
2,253,078 |
1,804,289 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
SHANYOS PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
613,150 |
487,718 |
|
Net Liquid Funds |
581,769 |
470,936 |
|
Net Liquid Assets |
(9,132,168) |
(4,608,950) |
|
Net Current Assets/(Liabilities) |
564,597 |
62,217 |
|
Net Tangible Assets |
2,253,078 |
1,804,289 |
|
Net Monetary Assets |
(9,132,168) |
(4,608,950) |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
931,195 |
717,560 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
931,195 |
717,560 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
5,978,643 |
5,126,735 |
|
Total Liabilities |
17,121,300 |
7,382,001 |
|
Total Assets |
19,374,378 |
9,186,290 |
|
Net Assets |
2,253,078 |
1,804,289 |
|
Net Assets Backing |
2,253,078 |
1,804,289 |
|
Shareholders' Funds |
2,253,078 |
1,804,289 |
|
Total Share Capital |
694,444 |
694,444 |
|
Total Reserves |
1,558,634 |
1,109,845 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.04 |
0.07 |
|
Liquid Ratio |
0.47 |
0.38 |
|
Current Ratio |
1.03 |
1.01 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
61 |
44 |
|
Debtors Ratio |
44 |
14 |
|
Creditors Ratio |
62 |
7 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
2.65 |
2.84 |
|
Liabilities Ratio |
7.60 |
4.09 |
|
Times Interest Earned Ratio |
2.09 |
1.65 |
|
Assets Backing Ratio |
3.24 |
2.60 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
0.84 |
0.72 |
|
Net Profit Margin |
0.78 |
0.68 |
|
Return On Net Assets |
41.33 |
39.77 |
|
Return On Capital Employed |
40.76 |
39.40 |
|
Return On Shareholders' Funds/Equity |
19.92 |
14.77 |
|
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.66.30 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.72.33 |
|
SGD |
1 |
Rs.47.02 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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.