|
Report No. : |
309728 |
|
Report Date : |
27.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TOSHIBA SINGAPORE PTE LTD |
|
|
|
|
Registered Office : |
20, Pasir Panjang Road, 13-27/28, Mapletree Business City, 117439 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
21.09.1974 |
|
|
|
|
Com. Reg. No.: |
197401688-Z |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Subject is engaged in marketing of visual and household consumer
products, personal computers. |
|
|
|
|
No. of Employee : |
200 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
197401688-Z |
||||
|
COMPANY NAME |
: |
TOSHIBA SINGAPORE PTE LTD |
||||
|
FORMER NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
21/09/1974 |
||||
|
COMPANY STATUS |
: |
EXIST |
||||
|
LEGAL FORM |
: |
PRIVATE LIMITED |
||||
|
LISTED STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
20, PASIR PANJANG ROAD, 13-27/28, MAPLETREE BUSINESS CITY, 117439,
SINGAPORE. |
||||
|
BUSINESS ADDRESS |
: |
20, PASIR PANJANG ROAD, 13-27/28 MAPLETREE BUSINESS CITY, 117439,
SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62737555/62709989 |
||||
|
FAX.NO. |
: |
65-62783016 |
||||
|
WEB SITE |
: |
WWW.TOSHIBA.COM.SG |
||||
|
CONTACT PERSON |
: |
WU TENG GUO ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
MARKETING OF VISUAL AND HOUSEHOLD CONSUMER PRODUCTS, PERSONAL
COMPUTERS |
||||
|
ISSUED AND PAID
UP CAPITAL |
: |
11,600,000.00 ORDINARY SHARE, OF A VALUE OF SGD 11,600,000.00 |
||||
|
SALES |
: |
USD 573,376,462 [2014] |
||||
|
NET WORTH |
: |
USD 15,643,702 [2014] |
||||
|
STAFF STRENGTH |
: |
200 [2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
FAIR |
||||
|
MANAGEMENT
CAPABILITY |
: |
GOOD |
||||
|
COMMERCIAL RISK |
: |
LOW |
||||
|
CURRENCY
EXPOSURE |
: |
MODERATE |
||||
|
GENERAL
REPUTATION |
: |
GOOD |
||||
|
INDUSTRY OUTLOOK |
: |
AVERAGE GROWTH |
||||
HISTORY
/ BACKGROUND
|
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) marketing of visual and household
consumer products, personal computers.
The immediate
holding company of the Subject is TOSHIBA LIFESTYLE PRODUCTS & SERVICES
CORPORATION, a company incorporated in JAPAN.
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
27/02/2015 |
SGD 11,600,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
TOSHIBA LIFESTYLE PRODUCTS & SERVICES CORPORATION |
SERVICES CORPORATION, 2-9, SUEHIRO-CHO OME, TOKYO, 198-8710, JAPAN. |
T08UF2277 |
6,600,000.00 |
56.90 |
|
TOSHIBA CORPORATION |
1-1, SHIBAURA, 1-CHOME, MINATO-KU, TOKYO, 105-8001, JAPAN. |
S74UF0080 |
5,000,000.00 |
43.10 |
|
--------------- |
------ |
|||
|
11,600,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
197700669Z |
SINGAPORE |
TOSHIBA DATA DYNAMICS PTE LTD |
50.00 |
31/03/2014 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
OTANI FUMIO |
|
Address |
: |
1, DEVONSHIRE ROAD, 30-01, ONE DEVONSHIRE, 239896, SINGAPORE. |
|
IC / PP No |
: |
G5314022Q |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
22/06/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
KIYOFUMI KAKUDO |
|
Address |
: |
1-30-8, HIGASHI YUKIGAYA, OTA-KU, TOKYO, 145-0065, JAPAN. |
|
IC / PP No |
: |
TZ0668212 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/09/2013 |
DIRECTOR 3
|
Name Of Subject |
: |
WU TENG GUO |
|
Address |
: |
8G, EAST COAST AVENUE, EIGHT @ EAST COAST, 454962, SINGAPORE. |
|
IC / PP No |
: |
S1557546H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
01/04/2013 |
DIRECTOR 4
|
Name Of Subject |
: |
GOH SIEW HUANG |
|
Address |
: |
4, ZEHNDER ROAD, 02-04, BUONA VISTA GARDENS, 117688, SINGAPORE. |
|
IC / PP No |
: |
S1136673B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
12/08/2009 |
DIRECTOR 5
|
Name Of Subject |
: |
YOSUKE GOTO |
|
Address |
: |
7, CLAYMORE ROAD, 08-01, 229538, SINGAPORE. |
|
IC / PP No |
: |
F2486489T |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/06/2010 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
WU TENG GUO |
|
Position |
: |
DIRECTOR, MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
GOH SIEW HUANG |
|
IC / PP No |
: |
S1136673B |
|
|
Address |
: |
4, ZEHNDER ROAD, 02-04, BUONA VISTA GARDENS, 117688, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1) |
Name |
: |
THE BANK OF TOKYO-MITSUBISHI UFJ, LTD (SINGAPORE BRANCH) |
|
2) |
Name |
: |
SUMITOMO MITSUI BANKING CORPORATION F.K.A THE SUMITOMO BANK, LIMITED |
ENCUMBRANCE
(S)
|
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.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
X |
] |
Poor >120 Days |
[ |
] |
||||||||
CLIENTELE
|
|||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|||
|
Goods Traded |
: |
HOUSEHOLD CONSUMER PRODUCTS, PERSONAL COMPUTERS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
200 |
||||||||
|
Branch |
: |
NO |
Other Information:
|
|
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-62737555/62709989 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
20 PASIR PANJANG ROAD NO 13 27/28 MAPLETREE BUSINESS CITY SINGAPORE
117439 |
|
Current Address |
: |
20, PASIR PANJANG ROAD, 13-27/28 MAPLETREE BUSINESS CITY, 117439,
SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
On 26th February 2015 we contacted one of the staff from the Subject and he
provided some information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
40.93% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
40.69% |
] |
|
|
The continuous fall in turnover could be due to the lower demand for
the Subject's products / services.The dip in profit could be due to the stiff
market competition which reduced the Subject's profit margin. Generally the
Subject was profitable. The favourable return on shareholders' funds and
return on net assets indicate that the Subject's management was efficient in
utilising the assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Favourable |
[ |
11 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
69 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
71 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The high debtors' ratio could
indicate that the Subject was weak in its credit control. However, the
Subject could also giving longer credit periods to its customers in order to
boost its sales or to capture / retain its market share. The unfavourable
creditors' ratio could be due to the Subject taking advantage of the credit
granted by its suppliers. However this may affect the goodwill between the
Subject and its suppliers and the Subject may inadvertently have to pay more
for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Acceptable |
[ |
0.84 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
0.97 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 |
: |
Favourable |
[ |
107.99 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest cover showed that the Subject was able to service the
interest. The favourable interest cover could indicate that the Subject was
making enough profit to pay for the interest accrued. 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's performance deteriorated over the years with lower
turnover and profit. 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. With the favourable interest cover, the
Subject could be able to service all the accrued interest without facing any
difficulties. 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 : STABLE |
||||||
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
ANALYSIS
|
|
INDUSTRY : |
TRADING |
|
The wholesale and retail trade sectors have expanded by 2.0% in the
third quarter of 2014, extending the 1.8 per cent growth in the previous
quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after
declining by 1.4% the year before. Growth of the sector was driven by the
wholesale trade segment. |
|
|
The domestic wholesale trade index has increased by 3.2% in the fourth
quarter of 2013, moderating from the 6.6% growth in the previous quarter. The
slower growth was due to a decline in the sales of furniture and household
equipment (-12%) and petroleum and petroleum products (-0.6%). For the full
year, the domestic wholesale trade index grew by 5.2% reversing the 2.2%
decline in 2012. On the other hand, the foreign wholesale trade index has
increased by a slower pace of 5.6% in the fourth quarter, compared to the
7.7% expansion in the preceding quarter. The slowdown was due to a fall in
the sales of telecommunication equipment and computer (-3.8%) and petroleum
and petroleum products (-2.5%). For the full year, the growth of the foreign
wholesale trade index moderated slightly to 8.6% from 9.1% in the previous
year. |
|
|
In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending
the 5.6% decline in the previous quarter. Excluding motor vehicles, retail
sales volume increased by 0.4%, a slower pace of expansion as compared to the
1.6% gain in the preceding quarter. The sales volume of motor vehicles fell
by 33% in the fourth quarter of 2013, extending the 32% decline in the
previous quarter. Meanwhile, the sales of several discretionary items also
fell in the fourth quarter of 2013. For instance, the sales of
telecommunications apparatus and computers fell by 12%, while the sales of
furniture and household equipment declined by 5.4%. |
|
|
For the full year, retail sales volume contracted by 4.3%, a reversal
from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail
sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012.
Watches and jewellery recorded the largest increase (11%) in sales in 2013,
followed by optical goods and book (3%) and medical goods and toiletries
(3%). By contrast, the sales of telecommunications apparatus and computer
(-7.3%), furniture and household equipment (-4.2%) and petrol service
stations (-1.4) declined in 2013. |
|
|
OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
TOSHIBA
SINGAPORE PTE LTD |
|
Financial Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
573,376,462 |
846,478,809 |
1,178,443,129 |
1,251,455,211 |
677,911,197 |
|
Other Income |
2,862,081 |
4,930,824 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
576,238,543 |
851,409,633 |
1,178,443,129 |
1,251,455,211 |
677,911,197 |
|
Costs of Goods Sold |
(531,290,391) |
(791,159,106) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
44,948,152 |
60,250,527 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
6,917,906 |
8,327,158 |
21,539,489 |
10,702,494 |
6,940,463 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
6,917,906 |
8,327,158 |
21,539,489 |
10,702,494 |
6,940,463 |
|
Taxation |
(515,504) |
42,460 |
(2,779,558) |
(2,561,058) |
(850,836) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
6,402,402 |
8,369,618 |
18,759,931 |
8,141,436 |
6,089,627 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
10,464,571 |
11,141,953 |
(7,617,978) |
(15,759,414) |
(21,849,041) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
10,464,571 |
11,141,953 |
(7,617,978) |
(15,759,414) |
(21,849,041) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
16,866,973 |
19,511,571 |
11,141,953 |
(7,617,978) |
(15,759,414) |
|
DIVIDENDS - Ordinary (paid & proposed) |
(7,169,000) |
(9,047,000) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
9,697,973 |
10,464,571 |
11,141,953 |
(7,617,978) |
(15,759,414) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Others |
64,660 |
12,671 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
64,660 |
12,671 |
- |
- |
- |
|
|
============= |
============= |
BALANCE
SHEET
|
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,111,311 |
1,606,004 |
24,080,200 |
18,993,636 |
24,408,641 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
16,172,504 |
16,172,504 |
- |
- |
- |
|
Associated companies |
2,489,331 |
2,489,331 |
- |
- |
- |
|
Deferred assets |
896,356 |
1,262,460 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
19,558,191 |
19,924,295 |
- |
- |
- |
|
Others |
81,699 |
98,099 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
81,699 |
98,099 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
20,751,201 |
21,628,398 |
24,080,200 |
18,993,636 |
24,408,641 |
|
Stocks |
16,991,624 |
17,057,960 |
- |
- |
- |
|
Trade debtors |
108,140,711 |
107,148,750 |
- |
- |
- |
|
Amount due from holding company |
461,326 |
1,266,305 |
- |
- |
- |
|
Amount due from subsidiary companies |
75,571 |
100,946 |
- |
- |
- |
|
Amount due from related companies |
549,861 |
38,422,537 |
- |
- |
- |
|
Cash & bank balances |
2,513,981 |
2,807,836 |
- |
- |
- |
|
Others |
109,360 |
273,132 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
128,842,434 |
167,077,466 |
309,451,816 |
299,116,626 |
268,932,658 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
149,593,635 |
188,705,864 |
333,532,016 |
318,110,262 |
293,341,299 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
103,268,417 |
151,545,847 |
- |
- |
- |
|
Other liabilities & accruals |
9,425,451 |
11,882,707 |
- |
- |
- |
|
Amounts owing to holding company |
270,870 |
216,716 |
- |
- |
- |
|
Amounts owing to subsidiary companies |
18,365 |
- |
- |
- |
- |
|
Amounts owing to related companies |
16,387,797 |
272,607 |
- |
- |
- |
|
Amounts owing to associated companies |
18,815 |
38,015 |
- |
- |
- |
|
Provision for taxation |
77,615 |
669,483 |
- |
- |
- |
|
Other liabilities |
2,966,292 |
5,398,179 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
132,433,622 |
170,023,554 |
312,333,038 |
304,754,240 |
258,249,070 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(3,591,188) |
(2,946,088) |
(2,881,222) |
(5,637,614) |
10,683,588 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
17,160,013 |
18,682,310 |
21,198,978 |
13,356,022 |
35,092,229 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
5,945,729 |
5,945,729 |
11,600,000 |
11,600,000 |
11,600,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
5,945,729 |
5,945,729 |
11,600,000 |
11,600,000 |
11,600,000 |
|
Retained profit/(loss) carried forward |
9,697,973 |
10,464,571 |
11,141,953 |
(7,617,978) |
(15,759,414) |
|
Others |
- |
0 |
(1,542,975) |
9,374,000 |
34,047,469 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
9,697,973 |
10,464,571 |
9,598,978 |
1,756,022 |
18,288,055 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
15,643,702 |
16,410,300 |
21,198,978 |
13,356,022 |
29,888,055 |
|
Others |
1,516,311 |
2,272,010 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
1,516,311 |
2,272,010 |
- |
- |
5,204,174 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
17,160,013 |
18,682,310 |
21,198,978 |
13,356,022 |
35,092,229 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
TOSHIBA
SINGAPORE PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
2,513,981 |
2,807,836 |
- |
- |
- |
|
Net Liquid Funds |
2,513,981 |
2,807,836 |
- |
- |
- |
|
Net Liquid Assets |
(20,582,812) |
(20,004,048) |
(2,881,222) |
(5,637,614) |
10,683,588 |
|
Net Current Assets/(Liabilities) |
(3,591,188) |
(2,946,088) |
(2,881,222) |
(5,637,614) |
10,683,588 |
|
Net Tangible Assets |
17,078,314 |
18,584,211 |
21,198,978 |
13,356,022 |
35,092,229 |
|
Net Monetary Assets |
(22,099,123) |
(22,276,058) |
(2,881,222) |
(5,637,614) |
5,479,414 |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
- |
- |
- |
|
Total Liabilities |
133,949,933 |
172,295,564 |
312,333,038 |
304,754,240 |
263,453,244 |
|
Total Assets |
149,593,635 |
188,705,864 |
333,532,016 |
318,110,262 |
293,341,299 |
|
Net Assets |
17,160,013 |
18,682,310 |
21,198,978 |
13,356,022 |
35,092,229 |
|
Net Assets Backing |
15,643,702 |
16,410,300 |
21,198,978 |
13,356,022 |
29,888,055 |
|
Shareholders' Funds |
15,643,702 |
16,410,300 |
21,198,978 |
13,356,022 |
29,888,055 |
|
Total Share Capital |
5,945,729 |
5,945,729 |
11,600,000 |
11,600,000 |
11,600,000 |
|
Total Reserves |
9,697,973 |
10,464,571 |
9,598,978 |
1,756,022 |
18,288,055 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.02 |
0.02 |
- |
- |
- |
|
Liquid Ratio |
0.84 |
0.88 |
- |
- |
- |
|
Current Ratio |
0.97 |
0.98 |
0.99 |
0.98 |
1.04 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
11 |
7 |
- |
- |
- |
|
Debtors Ratio |
69 |
46 |
- |
- |
- |
|
Creditors Ratio |
71 |
70 |
- |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.00 |
0.00 |
- |
- |
- |
|
Liabilities Ratio |
8.56 |
10.50 |
14.73 |
22.82 |
8.81 |
|
Times Interest Earned Ratio |
107.99 |
658.18 |
- |
- |
- |
|
Assets Backing Ratio |
2.87 |
3.13 |
1.83 |
1.15 |
3.03 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
1.21 |
0.98 |
1.83 |
0.86 |
1.02 |
|
Net Profit Margin |
1.12 |
0.99 |
1.59 |
0.65 |
0.90 |
|
Return On Net Assets |
40.69 |
44.64 |
101.61 |
80.13 |
19.78 |
|
Return On Capital Employed |
40.50 |
44.41 |
101.61 |
80.13 |
19.78 |
|
Return On Shareholders' Funds/Equity |
40.93 |
51.00 |
88.49 |
60.96 |
20.37 |
|
Dividend Pay Out Ratio (Times) |
1.12 |
1.08 |
- |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.94 |
|
|
1 |
Rs.96.24 |
|
Euro |
1 |
Rs.70.39 |
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.