|
|
REGISTRATION NO.
|
:
|
200920948-R
|
|
COMPANY NAME
|
:
|
AURIONPRO SCM PTE.
LTD.
|
|
FORMER NAME
|
:
|
N/A
|
|
INCORPORATION DATE
|
:
|
09/11/2009
|
|
|
|
|
|
|
|
COMPANY STATUS
|
:
|
EXIST
|
|
LEGAL FORM
|
:
|
PRIVATE LIMITED
|
|
LISTED STATUS
|
:
|
NO
|
|
|
|
|
|
|
|
REGISTERED ADDRESS
|
:
|
438B, ALEXANDRA ROAD,
05-11, ALEXANDRA TECHNOPARK, 119968, SINGAPORE.
|
|
BUSINESS ADDRESS
|
:
|
438B ALEXANDRA ROAD
#05-11 ALEXANDRA TECHNOPARK, 119968, SINGAPORE.
|
|
TEL.NO.
|
:
|
65-65364852
|
|
FAX.NO.
|
:
|
65-65364864
|
|
WEB SITE
|
:
|
WWW.AURIONPRO.COM
|
|
CONTACT PERSON
|
:
|
JADHAV DHANANJAY
BALKRISHNA ( DIRECTOR )
|
|
|
|
|
|
|
|
PRINCIPAL ACTIVITY
|
:
|
WHOLESALE OF COMPUTER
SOFTWARE
|
|
|
|
|
ISSUED AND PAID UP
CAPITAL
|
:
|
1,585,000.00 ORDINARY
SHARE, OF A VALUE OF USD 1,585,000.00
|
|
|
|
|
SALES
|
:
|
USD 2,556,747 [2014]
|
|
NET WORTH
|
:
|
USD 6,345,165 [2014]
|
|
|
|
|
STAFF STRENGTH
|
:
|
n/a [2015]
|
|
LITIGATION
|
:
|
CLEAR
|
|
FINANCIAL CONDITION
|
:
|
FAIR
|
|
PAYMENT
|
:
|
GOOD
|
|
MANAGEMENT CAPABILITY
|
:
|
AVERAGE
|
|
|
|
|
COMMERCIAL RISK
|
:
|
LOW
|
|
CURRENCY EXPOSURE
|
:
|
MODERATE
|
|
GENERAL REPUTATION
|
:
|
SATISFACTORY
|
|
INDUSTRY OUTLOOK
|
:
|
MARGINAL 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 computer software.
The immediate holding
company of the Subject is AURIONPRO SOLUTIONS LTD., a company incorporated in
INDIA.
Share Capital
History
|
Date
|
Issue & Paid
Up Capital
|
|
17/02/2015
|
USD 1,585,000.00
|
The major
shareholder(s) of the Subject are shown as follows :
Name
|
Address
|
IC/PP/Loc No
|
Shareholding
|
(%)
|
|
AURIONPRO SOLUTIONS
LTD.
|
SUNSHINE TOWER, TULSI
PIPE ROAD NEAR FLOWER MARKET, DADAR (WEST) MUMBAI, MAHARASHTRA, 35TH FLOOR,
400013, INDIA.
|
T03UF2941
|
1,585,000.00
|
100.00
|
|
|
|
---------------
|
------
|
|
|
|
1,585,000.00
|
100.00
|
|
|
|
============
|
=====
|
+ Also Director
DIRECTORS
DIRECTOR 1
|
Name Of Subject
|
:
|
V VASANTHI
|
|
Address
|
:
|
512, PASIR RIS
STREET, 52, 09-123, 510512, SINGAPORE.
|
|
IC / PP No
|
:
|
S2183144A
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
09/11/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
DIRECTOR 2
|
Name Of Subject
|
:
|
MR. JADHAV DHANANJAY
BALKRISHNA
|
|
Address
|
:
|
12, UPPER SERANGOON
VIEW, 02-07, RIO VISTA, 534199, SINGAPORE.
|
|
IC / PP No
|
:
|
S7165131B
|
|
|
|
|
|
|
|
|
|
|
Nationality
|
:
|
SINGAPOREAN
|
|
Date of Appointment
|
:
|
09/11/2009
|
|
|
|
|
|
|
|
|
|
|
|
|
MANAGEMENT
|
1)
|
Name of Subject
|
:
|
JADHAV DHANANJAY
BALKRISHNA
|
|
Position
|
:
|
DIRECTOR
|
|
|
|
|
AUDITOR
|
Auditor
|
:
|
S. RENGANATHAN &
CO.
|
|
Auditor' Address
|
:
|
N/A
|
|
|
|
|
|
|
|
1)
|
Company Secretary
|
:
|
PATHIMA MUNEERA AZMI
|
|
IC / PP No
|
:
|
S2715498J
|
|
|
|
|
|
Address
|
:
|
122, JURONG EAST
STREET, 13, 02-31, IVORY HEIGHTS, 600122, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2)
|
Company Secretary
|
:
|
CHENG LIAN SIANG
|
|
IC / PP No
|
:
|
S1519832Z
|
|
|
|
|
|
Address
|
:
|
7, SIN MING WALK,
20-17, THE GARDENS AT BISHAN, 575577, SINGAPORE.
|
|
|
|
|
|
|
|
|
|
|
|
|
No Banker found in our databank.
No encumbrance was found in our databank at the time of investigation.
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.
|
SOURCES OF RAW MATERIALS:
|
|
Local
|
:
|
YES
|
|
Overseas
|
:
|
YES
|
|
|
|
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data
we conclude that :
|
OVERALL PAYMENT HABIT
|
|
Prompt 0-30 Days
|
[
|
|
]
|
|
Good 31-60 Days
|
[
|
X
|
]
|
|
Average 61-90 Days
|
[
|
|
]
|
|
|
Fair 91-120 Days
|
[
|
|
]
|
|
Poor >120 Days
|
[
|
|
]
|
|
|
|
|
|
|
|
Local
|
:
|
YES
|
|
Domestic Markets
|
:
|
SINGAPORE
|
|
Overseas
|
:
|
YES
|
|
|
|
|
Export Market
|
:
|
ASIA
|
|
Credit Term
|
:
|
N/A
|
|
|
|
|
|
|
|
Payment Mode
|
:
|
CHEQUES
TELEGRAPHIC TRANSFER (TT)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Goods Traded
|
:
|
COMPUTER SOFTWARE
|
|
|
|
|
Total Number of
Employees:
|
|
|
YEAR
|
2015
|
2014
|
2013
|
|
|
|
|
|
|
|
|
N/A
|
N/A
|
|
|
|
|
|
|
|
|
COMPANY
|
n/a
|
11
|
7
|
|
|
|
|
|
|
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of
computer software.
The Subject refused to disclose its operation.
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number
Provided By Client
|
:
|
N/A
|
|
Current Telephone
Number
|
:
|
65-65364852
|
|
Match
|
:
|
N/A
|
|
|
|
|
Address Provided by
Client
|
:
|
39, ROBINSON ROAD, #
07-01, ROBINSON POINT, SINGAPORE -068911
|
|
Current Address
|
:
|
438B ALEXANDRA ROAD #05-11
ALEXANDRA TECHNOPARK, 119968, SINGAPORE.
|
|
Match
|
:
|
NO
|
|
|
|
Other Investigations
On 16th February 2015 we contacted one of the staff from the Subject and she
provided some information.
The Subject had shifted from the address provided.
She refused to disclose the Subject's number of employees.
|
Profitability
|
|
|
|
|
|
|
|
Turnover
|
:
|
Erratic
|
[
|
2012 - 2014
|
]
|
|
|
Profit/(Loss) Before
Tax
|
:
|
Decreased
|
[
|
2012 - 2014
|
]
|
|
|
Return on Shareholder
Funds
|
:
|
Acceptable
|
[
|
23.97%
|
]
|
|
|
Return on Net Assets
|
:
|
Acceptable
|
[
|
14.32%
|
]
|
|
|
|
|
|
|
|
|
|
The fluctuating
turnover reflects the fierce competition among the existing and new market players.The
Subject's profit fell sharply because of the high operating costs incurred.
The Subject's management had generated acceptable return for its
shareholders using its assets.
|
|
|
|
|
|
|
|
|
Working
Capital Control
|
|
|
|
|
|
|
|
Stock Ratio
|
:
|
Nil
|
[
|
0 Days
|
]
|
|
|
Debtor Ratio
|
:
|
Unfavourable
|
[
|
114 Days
|
]
|
|
|
Creditors Ratio
|
:
|
Favourable
|
[
|
5 Days
|
]
|
|
|
|
|
|
|
|
|
|
As the Subject is a service
oriented company, the Subject does not need to keep stocks. The Subject's
debtors ratio was high. The Subject should tighten its credit control and
improve its collection period. The Subject had a favourable creditors'
ratio where the Subject could be taking advantage of the cash discounts and
also wanting to maintain goodwill with its creditors.
|
|
|
|
|
|
|
|
|
Liquidity
|
|
|
|
|
|
|
|
Liquid Ratio
|
:
|
Unfavourable
|
[
|
0.76 Times
|
]
|
|
|
Current Ratio
|
:
|
Unfavourable
|
[
|
0.76 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
|
:
|
Acceptable
|
[
|
9.70 Times
|
]
|
|
|
Gearing Ratio
|
:
|
Favourable
|
[
|
0.00 Times
|
]
|
|
|
|
|
|
|
|
|
|
The Subject's interest
cover was slightly low. If there is no sharp fall in its profit or sudden
increase in the interest rates, we believe the Subject is able to generate
sufficient income to service its interest and repay the loans. The Subject
had no gearing and hence it had virtually no financial risk. The Subject
was financed by its shareholders' funds and internally generated fund.
During the economic downturn, the Subject, having a zero gearing, will be
able to compete better than those which are highly geared in the same
industry.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overall
Assessment :
|
|
|
|
|
|
|
|
The Subject recorded
lower profits as its turnover showed a erratic trend. The Subject's management
was unable to control its costs efficiently as its profit showed a downward
trend. 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 had
an acceptable interest cover. If there is no sudden sharp increase in
interest rate or fall in the Subject's profit, we do believe the Subject is
able to generate sufficient cash flow to service its interest payment. The
Subject was a zero gearing company, it was solely dependant on its
shareholders to provide funds to finance its business. The Subject has good
chance of getting loans, if the needs arises.
|
|
|
|
|
|
|
|
|
Overall financial
condition of the Subject : FAIR
|
SINGAPORE ECONOMIC / INDUSTRY
OUTLOOK
|
|
Major Economic
Indicators :
|
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)
|
|
|
|
|
|
|
INDUSTRY :
|
INFORMATION
TECHNOLOGY
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Singapore's infocomm services
industry is well-positioned to tap into the new business opportunities of
the digital age. An early mover in infocomm technology, Singapore today
ranks as the second most network-ready country in the world and the first
in Asia, according to the World Economic Forum's "Global Information
Technology Report 2014". The roll out of the Intelligent Nation 2015
Master Plan and the National Broadband Network will further strengthen
Singapore's infrastructure network.
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Furthermore, BMI has
a positive outlook for the growth of Singapore's IT market in 2014, which
will underperform emerging market growth rates, but is expected to
outperform against other developed markets. Strong income growth, exposure
to the APAC growth story and government policy will all support IT market
growth over the medium term. Growth from the sales of PC and devices will
slow as high device penetration in the city state means little prospect for
first time sales, but short replacement cycles and strong demand for
premium devices will ensure it remains a lucrative market for vendors.
Considering the government active push to promote Singapore as a
destination for cloud, big data and analytics services, Singapore should be
a strong contender in the data centre space against peers such as
Australia, Taiwan, South Korea and Hong Kong.
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The information &
communications sector grew by 2.3% in the third quarter of 2014.
Previously, in the fourth quarter of 2013, the information & communications
sector grew by 5.0%, following the 6.0% expansion in the preceding quarter.
For the whole of 2013, growth was 5.5%, lower than the 6.2% in 2012.
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Nonetheless, computer
hardware sales forecast to increase from SGD2.926bn in 2014 to SGD3.333bn
in 2018, equating to a compound annual growth rate (CAGR) of 3.5% in local
currency terms. The slowdown in tablet sales represents downside by a
stabilization in desktop and notebook volumes will see the market continue
to grow over the medium term. Besides, software sales forecast to increase
from SGD1.436bn in 2014 to SGD1.733bn in 2018, representing a CAGR of 5.2%
in local currency terms. SME demand for basic enterprise software
(particularly SaaS), complex deployments by large enterprises and investments
in security software will all be growth areas.
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IT Services sales
forecast to increase from SGD3.236bn in 2014 to SGD4.091bn in 2018,
equating to a CAGR of 5.9% in local currency terms. Growing demand for
cloud computing, big data and analytics services from telecoms, healthcare,
logistics and government will support IT services outperformance.
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The Intelligent
Nation 2015 master plan lays out the blueprint for Singapore’s infocomm strategies
in the digital age, with the creation of some 80,000 jobs and an increase
of value-add to SGD 26 billion. The master plan will incorporate emerging
technologies and leverage strategic developments. Some of these emerging
developments include Cloud Computing, Business Analytics and Green ICT.
While Singapore has performed well in international e-Government rankings,
the next e-Government master plan is already in the pipeline to ensure that
we remain at the forefront of e-Government practice and services.
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OVERALL INDUSTRY
OUTLOOK : MARGINAL GROWTH
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CREDIT RISK EVALUATION & RECOMMENDATION
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Incorporated in 2009, the Subject is a Private Limited company, focusing on
wholesale of computer software. 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. A paid up capital of USD 1,585,000 allows the Subject to expand
its business more comfortably. With a strong backing from its holding
company, the Subject enjoys timely financial assistance should the needs arise.
Over the years, the Subject has penetrated into both the local and overseas
market. The Subject has positioned itself in the global market and is
competing in the industry. Its stable clientele base will enable the
Subject to further enhance its business in the near term. Overall, we
regard that the Subject's management capability is average. This indicates
that the Subject has greater potential to improve its business performance
and raising income for the Subject.
The Subject's business performance showed a reverse trend as both its
turnover and pre-tax profit have decreased compared to the previous year.
Return on shareholders' funds of the Subject was at a favourable range
which indicated that the management was efficient in utilising its funds to
generate income. Due to its weak liquidity position, the Subject may face
working capital deficiency in meeting its short term financial obligations
if no fresh capital are injected into the Subject. Being a zero geared
company, the Subject virtually has no financial risk as it is mainly
dependent on its internal funds to finance its business. Given a positive
net worth standing at USD 6,345,165, the Subject should be able to maintain
its business in the near terms.
The Subject's supplier are from both the local and overseas countries. This
will eliminates the risk of dependency on deliveries from a number of key
suppliers and insufficient quantities of its raw materials. Overall the
Subject has a good control over its resources.
Overall, the Subject's payment habit is good as the Subject has a good
credit control and it could be taking advantage of the cash discounts while
maintaining a good reputation with its creditors.
The industry has reached its maturity stage and only enjoying a marginal
growth. The steady growth of the country's economy will further enhance the
industry activities. Thus, the Subject's future performance is very much
depend on its marketing strategies in order to retain its position in the
market.
Based on the above condition, we recommend credit be granted to the Subject
normally.
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THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS.
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Financial Year End
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2014-03-31
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2013-03-31
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2012-03-31
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Months
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12
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12
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12
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Consolidated Account
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Company
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Company
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Company
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Audited Account
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YES
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YES
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YES
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Unqualified Auditor's
Report (Clean Opinion)
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YES
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YES
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YES
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Financial Type
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FULL
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FULL
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FULL
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Currency
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USD
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USD
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USD
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TURNOVER
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2,556,747
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3,346,469
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2,768,647
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Total Turnover
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2,556,747
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3,346,469
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2,768,647
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PROFIT/(LOSS) FROM
OPERATIONS
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814,670
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1,554,416
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682,002
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PROFIT/(LOSS) BEFORE
TAXATION
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814,670
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1,554,416
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682,002
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Taxation
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706,000
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172,364
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265,015
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PROFIT/(LOSS) AFTER
TAXATION
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1,520,670
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1,726,780
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947,017
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RETAINED
PROFIT/(LOSS) BROUGHT FORWARD
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As previously
reported
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3,239,495
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1,512,715
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565,698
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As restated
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3,239,495
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1,512,715
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565,698
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PROFIT AVAILABLE FOR
APPROPRIATIONS
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4,760,165
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3,239,495
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1,512,715
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RETAINED
PROFIT/(LOSS) CARRIED FORWARD
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4,760,165
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3,239,495
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1,512,715
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=============
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=============
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INTEREST EXPENSE
(as per notes to P&L)
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Others
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93,644
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62,682
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-
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93,644
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62,682
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-
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=============
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=============
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ASSETS EMPLOYED:
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FIXED ASSETS
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3,214,136
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3,347,607
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3,102,780
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Deferred assets
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1,064,000
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358,000
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270,000
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TOTAL LONG TERM
INVESTMENTS/OTHER ASSETS
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1,064,000
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358,000
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270,000
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Others
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3,477,977
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2,447,978
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457,978
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TOTAL INTANGIBLE
ASSETS
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3,477,977
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2,447,978
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457,978
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TOTAL LONG TERM
ASSETS
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7,756,113
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6,153,585
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3,830,758
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Trade debtors
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801,034
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357,318
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96,306
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Other debtors,
deposits & prepayments
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921,526
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727,489
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751,179
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Amount due from
related companies
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2,762,916
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1,309,111
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178,896
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Cash & bank
balances
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2,609
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3,881
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18,486
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TOTAL CURRENT ASSETS
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4,488,085
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2,397,799
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1,044,867
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TOTAL ASSET
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12,244,198
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8,551,384
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4,875,625
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CURRENT
LIABILITIES
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Trade creditors
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37,446
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51,189
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28,004
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Other creditors &
accruals
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34,355
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75,378
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61,208
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Amounts owing to
holding company
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4,708,882
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3,273,238
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1,331,556
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Amounts owing to related
companies
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1,118,350
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1,027,084
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1,932,142
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TOTAL CURRENT
LIABILITIES
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5,899,033
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4,426,889
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3,352,910
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NET CURRENT ASSETS/(LIABILITIES)
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(1,410,948)
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(2,029,090)
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(2,308,043)
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TOTAL NET ASSETS
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6,345,165
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4,124,495
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1,522,715
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SHARE CAPITAL
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Ordinary share
capital
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1,585,000
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885,000
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10,000
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TOTAL SHARE CAPITAL
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1,585,000
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885,000
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10,000
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Retained
profit/(loss) carried forward
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4,760,165
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3,239,495
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1,512,715
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TOTAL RESERVES
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4,760,165
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3,239,495
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1,512,715
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SHAREHOLDERS'
FUNDS/EQUITY
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6,345,165
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4,124,495
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1,522,715
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6,345,165
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4,124,495
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1,522,715
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TYPES OF FUNDS
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Cash
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2,609
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3,881
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18,486
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Net Liquid Funds
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2,609
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3,881
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18,486
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Net Liquid Assets
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(1,410,948)
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(2,029,090)
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(2,308,043)
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Net Current
Assets/(Liabilities)
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(1,410,948)
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(2,029,090)
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(2,308,043)
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Net Tangible Assets
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2,867,188
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1,676,517
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1,064,737
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Net Monetary Assets
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(1,410,948)
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(2,029,090)
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(2,308,043)
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BALANCE SHEET
ITEMS
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Total Borrowings
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0
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0
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0
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Total Liabilities
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5,899,033
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4,426,889
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3,352,910
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Total Assets
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12,244,198
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8,551,384
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4,875,625
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Net Assets
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6,345,165
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4,124,495
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1,522,715
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Net Assets Backing
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6,345,165
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4,124,495
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1,522,715
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Shareholders' Funds
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6,345,165
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4,124,495
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1,522,715
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Total Share Capital
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1,585,000
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885,000
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10,000
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Total Reserves
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4,760,165
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3,239,495
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1,512,715
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LIQUIDITY (Times)
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Cash Ratio
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0.00
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0.00
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0.01
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Liquid Ratio
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0.76
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0.54
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0.31
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Current Ratio
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0.76
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0.54
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0.31
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WORKING CAPITAL
CONTROL (Days)
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Stock Ratio
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0
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0
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0
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Debtors Ratio
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114
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39
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13
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Creditors Ratio
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5
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6
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4
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SOLVENCY RATIOS
(Times)
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Gearing Ratio
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0.00
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0.00
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0.00
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Liabilities Ratio
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0.93
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1.07
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2.20
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Times Interest Earned
Ratio
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9.70
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25.80
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0.00
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Assets Backing Ratio
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1.81
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1.89
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106.47
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PERFORMANCE RATIO
(%)
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Operating Profit
Margin
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31.86
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46.45
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24.63
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Net Profit Margin
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59.48
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51.60
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34.21
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Return On Net Assets
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14.32
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39.21
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44.79
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Return On Capital
Employed
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9.25
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24.60
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34.43
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Return On Shareholders'
Funds/Equity
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23.97
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41.87
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62.19
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Dividend Pay Out
Ratio (Times)
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0.00
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0.00
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0.00
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NOTES TO ACCOUNTS
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Contingent
Liabilities
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0
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0
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0
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