|
Report No. : |
357151 |
|
Report Date : |
31.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
POS-SEA PTE. LTD. |
|
|
|
|
Registered Office : |
3, International Business Park, 03-17, Nordic European Centre, 609927 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.06.2009 |
|
|
|
|
Com. Reg. No.: |
200909776-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesale of metals and metal ores except general hardware (eg steel
pipes) |
|
|
|
|
No. of Employee : |
20 [2015] |
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 : |
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 |
POS-SEA PTE. LTD.
|
REGISTRATION NO. |
: |
200909776-N |
|
COMPANY NAME |
: |
POS-SEA PTE.
LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
01/06/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
3, INTERNATIONAL
BUSINESS PARK, 03-17, NORDIC EUROPEAN CENTRE, 609927, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
3 INTERNATIONAL
BUSINESS PARK 03-17 NORDIC EUROPEAN CENTRE, 609927, SINGAPORE. |
|
TEL.NO. |
: |
65-62658949 |
|
FAX.NO. |
: |
65-62650949 |
|
CONTACT PERSON |
: |
JI MYUNG-KIL (
MANAGING DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE OF METALS
AND METAL ORES EXCEPT GENERAL HARDWARE (EG STEEL PIPES) |
|
ISSUED AND PAID
UP CAPITAL |
: |
1,510,000.00
ORDINARY SHARE, OF A VALUE OF USD 1,510,000.00 |
|
SALES |
: |
USD 190,453,463
[2014] |
|
NET WORTH |
: |
USD 585,432
[2014] |
|
STAFF STRENGTH |
: |
20 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
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) wholesale of
metals and metal ores except general hardware (eg steel pipes).
Share Capital History
|
Date |
Issue &
Paid Up Capital |
|
31/12/2015 |
USD 1,510,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
POSCO PROCESSING
& SERVICE CO., LTD. |
POSTEEL TOWER,
735-3, YEOKSAMDONG, GANGNAM-GU, SEOUL KOREA |
T09UF1635 |
1,020,000.00 |
67.55 |
|
HG METAL
MANUFACTURING LIMITED |
15, JURONG PORT
ROAD 619119 ,SINGAPORE |
198802660D |
490,000.00 |
32.45 |
|
--------------- |
------ |
|||
|
1,510,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
FOO SEY LIANG |
|
Address |
: |
21, JALAN
MALU-MALU, SEMBAWANG SPRINGS ESTATE, 769638, SINGAPORE. |
|
IC / PP No |
: |
S6930226B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of
Appointment |
: |
25/04/2014 |
DIRECTOR 2
|
Name Of Subject |
: |
JI MYUNG-KIL |
|
Address |
: |
3, LEEDON HEIGHTS
12-06, D'LEEDON, 267951, SINGAPORE. |
|
IC / PP No |
: |
F1828074N |
|
Nationality |
: |
KOREAN |
|
Date of
Appointment |
: |
01/03/2015 |
DIRECTOR 3
|
Name Of Subject |
: |
SON KWANG JOO |
|
Address |
: |
107-1402,
MULLAE-DONG 82, YEONGDEUNGPO-GU, SEOUL, KOREA. |
|
IC / PP No |
: |
M52614935 |
|
Nationality |
: |
KOREAN |
|
Date of
Appointment |
: |
01/03/2015 |
|
1) |
Name of Subject |
: |
JI MYUNG-KIL |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
UHY LEE SENG CHAN
& CO. |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
KOH GEOK HOON |
|
IC / PP No |
: |
S0188289I |
|
|
Address |
: |
12, TAI HWAN
TERRACE, TAI HWAN GARDEN, 555248, SINGAPORE. |
|
|
2) |
Company Secretary |
: |
KOH EE KOON |
|
IC / PP No |
: |
S1246901B |
|
|
Address |
: |
104, BEDOK
RESERVOIR ROAD, 04-362, 470104, 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.
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
|
Goods Traded |
: |
METALS AND METAL
ORES EXCEPT GENERAL HARDWARE (EG STEEL PIPES) |
|
|
Total Number of
Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
|
|||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
20 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of metals
and metal ores except general hardware (eg steel pipes).
The Subject refused to disclose its operation.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number
Provided By Client |
: |
6562658949 |
|
Current Telephone
Number |
: |
65-62658949 |
|
Match |
: |
YES |
|
Address Provided
by Client |
: |
3 INTERNATIONAL
BUSINESS PARK 03-17 NORDIC EUROPEAN CENTRE,609927,SINGAPORE |
|
Current Address |
: |
3 INTERNATIONAL
BUSINESS PARK 03-17 NORDIC EUROPEAN CENTRE, 609927, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she only provided limited
information.
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before
Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on
Shareholder Funds |
: |
Unfavourable |
[ |
(333.67%) |
] |
|
|
Return on Net
Assets |
: |
Unfavourable |
[ |
(389.23%) |
] |
|
|
The Subject's turnover
increased steadily as the demand for its products / services increased due to
the goodwill built up over the years.The Subject incurred losses during the
year due to the inefficient control of its operating costs. The Subject's
unfavourable returns on shareholders' funds indicate the management's
inefficiency in utilising its assets to generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
15 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
30 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
0 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 |
: |
Acceptable |
[ |
0.80 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.00 Times |
] |
|
|
The Subject's
liquid ratio was slightly low. This could indicate that the Subject's working
capital was slightly deficient. The Subject will have to improve its
liquidity position either by obtaining short term financing or increase its
paid up capital so that it can meet all its short term obligations as and
when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(22.66 Times) |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
23.74 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 was highly
geared, thus it had a high financial risk. The Subject was dependent on loans
to finance its business needs. In times of economic downturn and / or high
interest rate, the Subject will become less profitable and competitive than
other firms in the same industry, which are lowly geared. This is because the
Subject has to service the interest and to repay the loan, which will erode
part of its profits. The profits will fluctuate depending on the Subject's
turnover and the interest it needs to pay. |
||||||
|
Overall Assessment
: |
||||||
|
Although the
Subject's turnover increased its profits however showed a reverse trend. The
losses could be due to the management's failure to maintain its competitiveness
in the market. The Subject's liquidity was at an acceptable range. If the
Subject is able to obtain further short term financing, it should be able to
meet all its short term obligations. 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'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 : 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 2009,
the Subject is a Private Limited company, focusing on wholesale of metals and
metal ores except general hardware (eg steel pipes). Having been in business
for more than 5 years, the Subject has established a remarkable clientele
base for itself which has contributed to its business growth. Presently, the
issued and paid up capital of the Subject stands at USD 1,510,000. The
Subject have a strong support from its shareholders.
|
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
POS-SEA 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 |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
190,453,463 |
111,832,477 |
79,905,017 |
71,074,295 |
50,966,350 |
|
Other Income |
152,546 |
- |
11,820 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
190,606,009 |
111,832,477 |
79,916,837 |
71,074,295 |
50,966,350 |
|
Costs of Goods
Sold |
(186,913,559) |
(109,206,760) |
(77,848,887) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
3,692,450 |
2,625,717 |
2,067,950 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(2,379,222) |
730,289 |
551,597 |
351,048 |
217,332 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(2,379,222) |
730,289 |
551,597 |
351,048 |
217,332 |
|
Taxation |
425,797 |
(143,161) |
(89,068) |
(27,005) |
(17,084) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(1,953,425) |
587,128 |
462,529 |
324,044 |
200,248 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously
reported |
1,178,857 |
741,729 |
279,200 |
1,050,284 |
850,036 |
|
Prior year
adjustment |
- |
- |
- |
(1,095,128) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,178,857 |
741,729 |
279,200 |
(44,844) |
850,036 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE
FOR APPROPRIATIONS |
(774,568) |
1,328,857 |
741,729 |
279,200 |
1,050,284 |
|
DIVIDENDS -
Ordinary (paid & proposed) |
(150,000) |
(150,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(924,568) |
1,178,857 |
741,729 |
279,200 |
1,050,284 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
100,564 |
14,214 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
100,564 |
14,214 |
- |
- |
- |
|
|
============= |
============= |
- |
- |
- |
|
|
DEPRECIATION (as
per notes to P&L) |
44,951 |
31,001 |
21,500 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
44,951 |
31,001 |
21,500 |
- |
- |
|
|
============= |
============= |
============= |
BALANCE SHEET
|
POS-SEA PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED ASSETS |
142,548 |
89,986 |
73,212 |
486,397 |
505,832 |
|
Investments |
32,056 |
119,709 |
399,709 |
- |
- |
|
Deferred assets |
426,450 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS |
458,506 |
119,709 |
399,709 |
- |
- |
|
Others |
43,073 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE
ASSETS |
43,073 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
ASSETS |
644,127 |
209,695 |
472,921 |
486,397 |
505,832 |
|
Stocks |
7,630,139 |
- |
4,223,834 |
- |
- |
|
Trade debtors |
15,527,048 |
8,239,062 |
3,510,435 |
- |
- |
|
Other debtors,
deposits & prepayments |
413,333 |
48,734 |
1,456,522 |
- |
- |
|
Short term
deposits |
20,747 |
20,747 |
20,747 |
- |
- |
|
Amount due from
related companies |
13,772,828 |
516,814 |
79,482 |
- |
- |
|
Cash & bank
balances |
1,811,568 |
1,887,873 |
227,794 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
ASSETS |
39,175,663 |
10,713,230 |
9,518,814 |
4,045,834 |
2,097,462 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
39,819,790 |
10,922,925 |
9,991,735 |
4,532,231 |
2,603,294 |
|
============= |
============= |
============= |
============= |
============= |
|
|
Other creditors
& accruals |
155,353 |
355,893 |
2,459,013 |
- |
- |
|
Short term
borrowings/Term loans |
12,000,000 |
3,000,000 |
4,971,043 |
- |
- |
|
Other borrowings |
1,900,000 |
1,700,000 |
- |
- |
- |
|
Amounts owing to
holding company |
21,565,241 |
3,034,095 |
234,460 |
- |
- |
|
Amounts owing to related
companies |
3,613,764 |
- |
- |
- |
- |
|
Provision for
taxation |
- |
142,600 |
72,800 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT
LIABILITIES |
39,234,358 |
8,232,588 |
7,737,316 |
2,253,031 |
43,010 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT
ASSETS/(LIABILITIES) |
(58,695) |
2,480,642 |
1,781,498 |
1,792,803 |
2,054,452 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
585,432 |
2,690,337 |
2,254,419 |
2,279,200 |
2,560,284 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share
capital |
1,510,000 |
1,510,000 |
1,510,000 |
1,893,842 |
1,510,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE
CAPITAL |
1,510,000 |
1,510,000 |
1,510,000 |
1,893,842 |
1,510,000 |
|
Retained
profit/(loss) carried forward |
(924,568) |
1,178,857 |
741,729 |
279,200 |
1,050,284 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(924,568) |
1,178,857 |
741,729 |
1,374,328 |
1,050,284 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
585,432 |
2,688,857 |
2,251,729 |
2,279,200 |
2,560,284 |
|
Deferred taxation |
- |
1,480 |
2,690 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM
LIABILITIES |
- |
1,480 |
2,690 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
585,432 |
2,690,337 |
2,254,419 |
2,279,200 |
2,560,284 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
POS-SEA PTE. LTD. |
|
TYPES OF FUNDS |
|||||
|
Cash |
1,832,315 |
1,908,620 |
248,541 |
- |
- |
|
Net Liquid Funds |
1,832,315 |
1,908,620 |
248,541 |
- |
- |
|
Net Liquid Assets |
(7,688,834) |
2,480,642 |
(2,442,336) |
1,792,803 |
2,054,452 |
|
Net Current
Assets/(Liabilities) |
(58,695) |
2,480,642 |
1,781,498 |
1,792,803 |
2,054,452 |
|
Net Tangible
Assets |
542,359 |
2,690,337 |
2,254,419 |
2,279,200 |
2,560,284 |
|
Net Monetary
Assets |
(7,688,834) |
2,479,162 |
(2,445,026) |
1,792,803 |
2,054,452 |
|
PROFIT &
LOSS ITEMS |
|||||
|
Earnings Before
Interest & Tax (EBIT) |
(2,278,658) |
744,503 |
551,597 |
- |
- |
|
Earnings Before
Interest, Taxes, Depreciation And Amortization (EBITDA) |
(2,233,707) |
775,504 |
573,097 |
- |
- |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
13,900,000 |
4,700,000 |
4,971,043 |
- |
- |
|
Total Liabilities |
39,234,358 |
8,234,068 |
7,740,006 |
2,253,031 |
43,010 |
|
Total Assets |
39,819,790 |
10,922,925 |
9,991,735 |
4,532,231 |
2,603,294 |
|
Net Assets |
585,432 |
2,690,337 |
2,254,419 |
2,279,200 |
2,560,284 |
|
Net Assets
Backing |
585,432 |
2,688,857 |
2,251,729 |
2,279,200 |
2,560,284 |
|
Shareholders'
Funds |
585,432 |
2,688,857 |
2,251,729 |
3,268,170 |
2,560,284 |
|
Total Share
Capital |
1,510,000 |
1,510,000 |
1,510,000 |
1,893,842 |
1,510,000 |
|
Total Reserves |
(924,568) |
1,178,857 |
741,729 |
1,374,328 |
1,050,284 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.05 |
0.23 |
0.03 |
- |
- |
|
Liquid Ratio |
0.80 |
1.30 |
0.68 |
- |
- |
|
Current Ratio |
1.00 |
1.30 |
1.23 |
1.80 |
48.77 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
15 |
0 |
19 |
- |
- |
|
Debtors Ratio |
30 |
27 |
16 |
- |
- |
|
Creditors Ratio |
0 |
0 |
0 |
- |
- |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing Ratio |
23.74 |
1.75 |
2.21 |
- |
- |
|
Liabilities Ratio |
67.02 |
3.06 |
3.44 |
0.69 |
0.02 |
|
Times Interest
Earned Ratio |
(22.66) |
52.38 |
0 |
- |
- |
|
Assets Backing
Ratio |
0.36 |
1.78 |
1.49 |
1.20 |
1.70 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit
Margin |
(1.25) |
0.65 |
0.69 |
0.49 |
0.43 |
|
Net Profit Margin |
(1.03) |
0.53 |
0.58 |
0.46 |
0.39 |
|
Return On Net
Assets |
(389.23) |
27.67 |
24.47 |
15.40 |
8.49 |
|
Return On Capital
Employed |
(362.55) |
27.67 |
24.47 |
15.40 |
8.49 |
|
Return On
Shareholders' Funds/Equity |
(333.67) |
21.84 |
20.54 |
14.22 |
7.82 |
|
Dividend Pay Out
Ratio (Times) |
0.08 |
0.26 |
0 |
- |
- |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.42 |
|
|
1 |
Rs.98.54 |
|
Euro |
1 |
Rs.72.60 |
|
SGD |
1 |
Rs. 46.83 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
|
|
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.