|
Report No. : |
308131 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNITED TEXMAC PTE LTD |
|
|
|
|
Registered Office : |
140, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
07.06.1996 |
|
|
|
|
Com. Reg. No.: |
199604132-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Knitted Products, Textiles |
|
|
|
|
No. of Employees : |
50 |
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 but correct |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. The economy depends heavily on exports,
particularly in consumer electronics, information technology products,
pharmaceuticals, and on a growing financial services sector. The economy
contracted 0.6% in 2009 as a result of the global financial crisis, but
rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to
in 2011-13, largely a result of soft demand for exports during the second
European recession. Over the longer term, the government hopes to establish a
new growth path that focuses on raising productivity. Singapore has attracted
major investments in pharmaceuticals and medical technology production and will
continue efforts to establish Singapore as Southeast Asia's financial and
high-tech hub
|
Source
: CIA |
|
REGISTRATION NO. |
: |
199604132-E |
|
COMPANY NAME |
: |
UNITED TEXMAC PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
07/06/1996 |
|
|
|
|
|
|
|
|
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
|
|
|
|
|
|
|
|
REGISTERED ADDRESS |
: |
140, PAYA LEBAR ROAD, 05-14, AZ @ PAYA LEBAR, 409015, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
140 PAYA LEBAR ROAD, @ PAYA LEBAR, LEVEL 5-15,, 409015, SINGAPORE. |
|
TEL.NO. |
: |
65-68978123 |
|
FAX.NO. |
: |
65-68978133 |
|
WEB SITE |
: |
WWW.UNITEX.COM.SG |
|
CONTACT PERSON |
: |
PUA YEOW CHUAH ( DIRECTOR ) |
|
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY |
: |
TRADING OF KNITTED PRODUCTS, TEXTILES |
|
|
|
|
|
ISSUED AND PAID UP CAPITAL |
: |
1,150,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,175,000.00 |
|
|
|
|
|
SALES |
: |
SGD 14,538,298 [2012] |
|
NET WORTH |
: |
SGD 3,422,108 [2012] |
|
|
|
|
|
STAFF STRENGTH |
: |
50 [2014] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
|
|
|
|
COMMERCIAL RISK |
: |
LOW |
|
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
knitted products, textiles.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
10/09/2014 |
SGD 1,175,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PUA YEOW CHUAH + |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, SINGAPORE. |
1638617J |
382,766.00 |
33.28 |
|
ITOCHU SYSTECH CORPORATION |
3-6-14, MINAMI-HONMACHI CHUO-KU, OSAKA 541-0054, JAPAN, SINGAPORE. |
S96UF0570B |
299,408.00 |
26.04 |
|
NG SOCK CHEW + |
49, PARK VILLAS TERRACE, 545276, SINGAPORE. |
S0076099D |
212,648.00 |
18.49 |
|
TSENG HONG KEE |
988B, JURONG WEST STREET 93, 13-641, 642988, SINGAPORE. |
S2554218E |
127,589.00 |
11.09 |
|
TEOH BOON CHEOW |
52, BUKIT BATOK STREET 31, 06-08, THE MADEIRA, 659443, SINGAPORE. |
S2590864C |
85,059.00 |
7.40 |
|
POR KHAY TI |
66, BAYSHORE ROAD, 23-05, BAYSHORE PARK, 469985, SINGAPORE. |
S2538817H |
42,530.00 |
3.70 |
|
|
|
|
--------------- |
------ |
|
|
|
|
1,150,000.00 |
100.00 |
|
|
|
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
200516588N |
SINGAPORE |
ECOTEX PTE. LTD. |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
SHANGHAI XINXIN TEXTILE MACHINERY CO.,LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
SHANGHAI JIACHEN PRECISION TEXTILE MACHINERY PRODUCTION CO., LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
CHINA |
JIACHUAN KNITTING (SHANGHAI) CO.,LTD |
100.00 |
31/12/2012 |
|
|
|
|
|
|
|
|
INDIA |
ECOTEX ENVIRONMENTAL TECHNOLOGIES (BANGALORE) PRIVATE LIMITED |
94.60 |
31/12/2012 |
|
|
|
|
|
|
DIRECTOR 1
|
Name Of Subject |
: |
NG SOCK CHEW |
|
Address |
: |
49, PARK VILLAS TERRACE, 545276, SINGAPORE. |
|
IC / PP No |
: |
S0076099D |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/11/1996 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject |
: |
PUA YEOW CHUAH |
|
Address |
: |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, SINGAPORE. |
|
IC / PP No |
: |
1638617J |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/11/1996 |
|
1) |
Name of Subject |
: |
PUA YEOW CHUAH |
|
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
SAW MENG TEE & PARTNERS PAC |
|
Auditor' Address |
: |
N/A |
|
|
|
|
|
1) |
Company Secretary |
: |
PUA YEOW CHUAH |
|
|
IC / PP No |
: |
1638617J |
|
|
|
|
|
|
|
Address |
: |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, SINGAPORE. |
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
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 |
: |
YES |
|
Overseas |
: |
YES |
|
|
|
|
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
|
] |
|
Good 31-60 Days |
[ |
|
] |
|
Average 61-90 Days |
[ |
X |
] |
|
|
Fair 91-120 Days |
[ |
|
] |
|
Poor >120 Days |
[ |
|
] |
|
|
|
|
|
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|
|
|
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
|
|
|
|
|
|
|
Payment Mode |
: |
CHEQUES |
|||
|
|
|
|
|
|
|
|
Goods Traded |
: |
KNITTED PRODUCTS, TEXTILES
|
|
|
|
|
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2014 |
|
|||||||
|
|
|||||||||
|
GROUP |
N/A |
|
|
|
|
|
|
|
|
|
COMPANY |
50 |
|
|
|
|
|
|
|
|
|
Branch |
: |
NO
|
Other Information:
The Subject is principally engaged in the (as a / as an) trading of knitted
products, textiles.
The Subject can offer Single Knit Series (UBX), Double Knit Series (UDX) and
Striper (USX) in various diameter and gauges. A world class standard
accessories and parts, superior technologies, precision central stitch system
makes Unitex a unique one.
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6568978123 |
|
Current Telephone Number |
: |
65-68978123 |
|
Match |
: |
YES |
|
|
|
|
|
Address Provided by Client |
: |
7 TUAS BASIN LINK, SINGAPORE 638761 |
|
Current Address |
: |
140 PAYA LEBAR ROAD, @ PAYA LEBAR, LEVEL 5-15,, 409015, SINGAPORE. |
|
Match |
: |
NO |
|
|
|
|
Other Investigations
On 8th September 2014 we contacted one of the staff from the Subject and she
provided some information.
The Subject had shifted from the address provided.
|
Profitability |
|
|
|
|
|
|
|
Turnover |
: |
Decreased |
[ |
24.34% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
475.95% |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(55.26%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(65.42%) |
] |
|
|
|
|
|
|
|
|
|
|
The lower turnover could be due to the intense market competition.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 |
: |
Unfavourable |
[ |
101 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
39 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
43 Days |
] |
|
|
|
|
|
|
|
|
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. 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 |
[ |
0.42 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.80 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 |
[ |
0.17 Times |
] |
|
|
|
|
|
|
|
|
|
|
The Subject's interest cover was nil as it did not pay any interest
during the year. The Subject was lowly geared thus it had a low financial
risk. The Subject was mainly financed by its shareholders' funds and
internally generated funds. In times of economic slowdown / downturn, the
Subject being a lowly geared company, will be able to compete better than
those companies which are highly geared in the same industry. |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall Assessment : |
|
|
|
|
|
|
|
The Subject's losses could be attributed to the lower turnover which
in turn could be the result of unfavourable market conditions. Due to its
weak liquidity position, the Subject will be faced with problems in meeting
all its short term obligations if no short term loan is obtained or
additional capital injected into the Subject. The Subject did not make any
interest payment during the year. The Subject was dependent on its
shareholders' funds to finance its business needs. The Subject as a lowly
geared company, will be more secured compared to those highly geared
companies. It has the ability to meet all its long term obligations. |
||||||
|
|
|
|
|
|
|
|
|
Overall financial condition of the Subject : LIMITED |
||||||
|
Major Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|
|
|
|
|
|
Population (Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|
|
|
|
|
|
Unemployment Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|
|
|
|
|
|
Registration of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|
|
|
|
|
|
Registration of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|
|
|
|
|
|
Bankruptcy Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|
|
|
|
|
|
INDUSTRIES ( % of Growth ) : |
|
|
|
|
|
|
Agriculture |
|
|
|
|
|
|
Production of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|
|
|
|
|
|
Manufacturing * |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food, Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood & Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper & Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing & Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical & Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber & Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery & Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|
|
|
|
|
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|
|
|
|
|
|
Services |
|
|
|
|
|
|
Electricity, Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport, Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance & Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|
|
|
|
|
|
* Based on Index of Industrial Production (2011 = 100) |
|
|
|
|
|
|
(Source : Department of Statistics) |
|
|
|
|
|
|
INDUSTRY : |
TRADING |
|
|
|
|
|
|
|
The wholesale and retail trade sector contracted by 1.5% in the fourth
quarter of 2012, extending the 0.2% decline in the preceding quarter. For the
whole of 2012, the sector declined by 0.7%, reversing the 1.6% growth in
2011. The sector was weighed down primarily by the wholesale trade segment.
In 2012, the wholesale trade segment contracted by 1.0%, a reversal from the
1.4% growth in 2011. Growth of the retail trade segment also moderated to
2.0%, from 3.2% in the year 2011. |
|
|
|
|
|
The domestic wholesale trade index grew by 1.2% in the fourth quarter
of 2012, an improvement from the 5.4% decline in the third quarter. This was
partly due to an increase in the sales of chemicals & chemical products
and ship chandlers & bunkering. For the full year of 2012, the domestic
wholesale trade index contracted by 2.2%, extending the 1.7% decline in 2011.
The foreign wholesale trade index grew by 8.6% in the fourth quarter, an
increase from the 6.6% growth in the third quarter. The expansion was partly
due to resilient sales of petroleum & petroleum products. For the whole
of 2012, the foreign wholesale trade index expanded by 9.1%, faster than the
4.3% increase in 2011. |
|
|
|
|
|
In the fourth quarter of 2012, retail sales volume declined by 2.0%,
extending the 0.3% decline in the third quarter. Excluding motor vehicles,
retail sales volume grew by 0.4%, a slight moderation compared to the 1.5%
gain in the third quarter of 2012. The sales volume of motor vehicles fell by
11% in the fourth quarter of 2012, after contracting by 6.1% in the third
quarter. The sales of several discretionary items also declined in the fourth
quarter. Besides, the sales of optical goods & books in 2012 fell by
3.6%, while the sales of telecommunications apparatus & computers
declined by 1.4%. |
|
|
|
|
|
For 2012 as a whole, retail sales volume grew by 1.3%, compared to the
2.0% expansion in 2011. Excluding motor vehicle sales, the increase in retail
sales volume also moderated from 5.4% in 2011 to 1.7% in 2012. Medical goods
& toiletries registered the largest increase (9.3%) in sales, followed by
telecommunications apparatus & computers (6.9%). By contrast, the sales
of watches & jewellery (-2.2%) and optical goods & books (-3.6%)
declined. |
|
|
|
|
|
|
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
|
Incorporated in 1996, the Subject is a
Private Limited company, focusing on trading of knitted products, textiles.
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. The
capital standing of the Subject is fair. With an adequate share capital, the
Subject has the potential of expanding its business in future. |
|
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
UNITED TEXMAC PTE LTD |
|
Financial Year End |
2012-12-31 |
2011-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
Company |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
|
|
|
|
TURNOVER |
14,538,298 |
19,216,174 |
|
|
---------------- |
---------------- |
|
Total Turnover |
14,538,298 |
19,216,174 |
|
|
---------------- |
---------------- |
|
|
|
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(2,240,794) |
596,032 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE TAXATION |
(2,240,794) |
596,032 |
|
Taxation |
350,309 |
(133,982) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) AFTER TAXATION |
(1,890,485) |
462,050 |
|
Minority interests |
(635) |
(489) |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
(1,891,120) |
461,561 |
|
|
---------------- |
---------------- |
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
(1,891,120) |
461,561 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|
|
|
As previously reported |
4,401,304 |
3,939,743 |
|
|
---------------- |
---------------- |
|
As restated |
4,401,304 |
3,939,743 |
|
|
---------------- |
---------------- |
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,510,184 |
4,401,304 |
|
|
---------------- |
---------------- |
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,510,184 |
4,401,304 |
|
|
============= |
============= |
|
|
|
|
|
UNITED TEXMAC PTE LTD |
|
ASSETS EMPLOYED: |
|
|
|
FIXED ASSETS |
2,046,515 |
2,214,004 |
|
|
|
|
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|
|
|
Subsidiary companies |
3,544,659 |
3,544,659 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
3,544,659 |
3,544,659 |
|
|
|
|
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM ASSETS |
5,591,174 |
5,758,663 |
|
|
|
|
|
Stocks |
3,992,057 |
3,322,132 |
|
Contract work-in-progress |
28,960 |
22,781 |
|
Trade debtors |
1,533,981 |
1,319,113 |
|
Other debtors, deposits & prepayments |
154,805 |
131,491 |
|
Amount due from subsidiary companies |
2,089,772 |
1,348,775 |
|
Cash & bank balances |
732,961 |
701,634 |
|
Others |
- |
215,843 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT ASSETS |
8,532,536 |
7,061,769 |
|
|
---------------- |
---------------- |
|
TOTAL ASSET |
14,123,710 |
12,820,432 |
|
|
============= |
============= |
|
|
|
|
|
CURRENT LIABILITIES |
|
|
|
Trade creditors |
1,705,470 |
660,802 |
|
Other creditors & accruals |
1,710,166 |
742,057 |
|
Hire purchase & lease creditors |
59,270 |
150,831 |
|
Other borrowings |
523,887 |
748,553 |
|
Amounts owing to holding company |
82,000 |
88,000 |
|
Amounts owing to subsidiary companies |
5,915,635 |
4,946,351 |
|
Amounts owing to director |
701,823 |
728,324 |
|
|
---------------- |
---------------- |
|
TOTAL CURRENT LIABILITIES |
10,698,251 |
8,064,918 |
|
|
---------------- |
---------------- |
|
NET CURRENT ASSETS/(LIABILITIES) |
(2,165,715) |
(1,003,149) |
|
|
---------------- |
---------------- |
|
TOTAL NET ASSETS |
3,425,459 |
4,755,514 |
|
|
============= |
============= |
|
|
|
|
|
SHARE CAPITAL |
|
|
|
Ordinary share capital |
1,175,000 |
1,175,000 |
|
|
---------------- |
---------------- |
|
TOTAL SHARE CAPITAL |
1,175,000 |
1,175,000 |
|
|
|
|
|
Retained profit/(loss) carried forward |
2,510,184 |
4,401,304 |
|
|
---------------- |
---------------- |
|
TOTAL RESERVES |
2,247,108 |
3,232,258 |
|
|
|
|
|
|
---------------- |
---------------- |
|
SHAREHOLDERS' FUNDS/EQUITY |
3,422,108 |
4,407,258 |
|
|
|
|
|
Other long term borrowings |
- |
285,700 |
|
Hire purchase creditors |
3,351 |
62,556 |
|
|
---------------- |
---------------- |
|
TOTAL LONG TERM LIABILITIES |
3,351 |
348,256 |
|
|
---------------- |
---------------- |
|
|
3,425,459 |
4,755,514 |
|
|
============= |
============= |
|
|
|
|
|
UNITED TEXMAC PTE LTD |
|
TYPES OF FUNDS |
|
|
|
Cash |
732,961 |
701,634 |
|
Net Liquid Funds |
732,961 |
701,634 |
|
Net Liquid Assets |
(6,157,772) |
(4,325,281) |
|
Net Current Assets/(Liabilities) |
(2,165,715) |
(1,003,149) |
|
Net Tangible Assets |
3,425,459 |
4,755,514 |
|
Net Monetary Assets |
(6,161,123) |
(4,673,537) |
|
BALANCE SHEET ITEMS |
|
|
|
Total Borrowings |
586,508 |
1,247,640 |
|
Total Liabilities |
10,701,602 |
8,413,174 |
|
Total Assets |
14,123,710 |
12,820,432 |
|
Net Assets |
3,425,459 |
4,755,514 |
|
Net Assets Backing |
3,422,108 |
4,407,258 |
|
Shareholders' Funds |
3,422,108 |
4,407,258 |
|
Total Share Capital |
1,175,000 |
1,175,000 |
|
Total Reserves |
2,247,108 |
3,232,258 |
|
LIQUIDITY (Times) |
|
|
|
Cash Ratio |
0.07 |
0.09 |
|
Liquid Ratio |
0.42 |
0.46 |
|
Current Ratio |
0.80 |
0.88 |
|
WORKING CAPITAL CONTROL (Days) |
|
|
|
Stock Ratio |
101 |
64 |
|
Debtors Ratio |
39 |
25 |
|
Creditors Ratio |
43 |
13 |
|
SOLVENCY RATIOS (Times) |
|
|
|
Gearing Ratio |
0.17 |
0.28 |
|
Liabilities Ratio |
3.13 |
1.91 |
|
Times Interest Earned Ratio |
0.00 |
0.00 |
|
Assets Backing Ratio |
2.92 |
4.05 |
|
PERFORMANCE RATIO (%) |
|
|
|
Operating Profit Margin |
(15.41) |
3.10 |
|
Net Profit Margin |
(13.01) |
2.40 |
|
Return On Net Assets |
(65.42) |
12.53 |
|
Return On Capital Employed |
(64.30) |
12.15 |
|
Return On Shareholders' Funds/Equity |
(55.26) |
10.47 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
|
|
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
|
|
1 |
Rs.95.01 |
|
Euro |
1 |
Rs.70.63 |
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.