MIRA INFORM REPORT

 

 

Report No. :

308944

Report Date :

28.02.2015

 

IDENTIFICATION DETAILS

 

Name :

OVIVO SINGAPORE PTE. LTD.

 

 

Formerly Known As :

EIMCO WATER TECHNOLOGIES PTE. LTD. (09/09/2010)
GL&V SINGAPORE PTE. LTD. (03/01/2008)
DORR-OLIVER EIMCO SINGAPORE PTE. LTD. (15/11/2005)
DORR-OLIVER SINGAPORE PTE. LTD. (28/01/2003)

 

 

Registered Office :

1, Sophia Road, 05-03, Peace Centre, 228149

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2013

 

 

Date of Incorporation :

30.10.2002

 

 

Com. Reg. No.:

200209441-M

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Trading and Servicing of Separation/Mixing Equipment

 

 

No. of Employee :

25

 

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.

 

 

 

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.

:

200209441-M

COMPANY NAME

:

OVIVO SINGAPORE PTE. LTD.

FORMER NAME

:

EIMCO WATER TECHNOLOGIES PTE. LTD. (09/09/2010)
GL&V SINGAPORE PTE. LTD. (03/01/2008)
DORR-OLIVER EIMCO SINGAPORE PTE. LTD. (15/11/2005)
DORR-OLIVER SINGAPORE PTE. LTD. (28/01/2003)

INCORPORATION DATE

:

30/10/2002

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

1, SOPHIA ROAD, 05-03, PEACE CENTRE, 228149, SINGAPORE.

BUSINESS ADDRESS

:

10 ANG MO KIO STREET 65 TECHPOINT #05-14, 569059, SINGAPORE.

TEL.NO.

:

65-62270239

FAX.NO.

:

65-62276760

CONTACT PERSON

:

RICHARD VERREAULT ( DIRECTOR )

PRINCIPAL ACTIVITY

:

TRADING AND SERVICING OF SEPARATION/MIXING EQUIPMENT

ISSUED AND PAID UP CAPITAL

:

1,631,100.00 ORDINARY SHARE, OF A VALUE OF SGD 1,631,100.00

SALES

:

SGD 12,852,560 [2013]

NET WORTH

:

SGD 1,915,659 [2013]

STAFF STRENGTH

:

25 [2015]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

LIMITED

PAYMENT

:

AVERAGE

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

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) trading and servicing of separation/mixing equipment.

 

Share Capital History

Date

Issue & Paid Up Capital

25/02/2015

SGD 1,631,100.00

 

The major shareholder(s) of the Subject are shown as follows :

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

GL&V CANADA INC.

2001, MCGILL COLLEGE, SUITE 2100, MONTREAL (QUEBEC), H3A 1G1, CANADA.

0197017V

1,631,100.00

100.00

---------------

------

1,631,100.00

100.00

============

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MALEK SALAMOR

Address

:

UNTEREGGWEG, 13, 4147, AESCH BL, SWITZERLAND.

IC / PP No

:

711912976

Nationality

:

AMERICAN

Date of Appointment

:

30/06/2011

 

DIRECTOR 2

 

Name Of Subject

:

ANG SOH KUEN

Address

:

6A, HOUGANG STREET, 11, 08-14, THE MINTON, 538756, SINGAPORE.

IC / PP No

:

S6809627H

Nationality

:

SINGAPOREAN

Date of Appointment

:

02/08/2007

 

DIRECTOR 3

 

Name Of Subject

:

MARC BARBEAU

Address

:

3250, DE LA FOUGERE, ST-BRUNO (QUEBEC), J3V 0B8, CANADA.

IC / PP No

:

BA741290

Nationality

:

CANADIAN

Date of Appointment

:

29/11/2014

 

DIRECTOR 4

 

Name Of Subject

:

ANDREW LAU TAK-HO

Address

:

1, ANG MO KIO AVENUE, 9, 02-03, FAR HORIZON GARDEN, 569758, SINGAPORE.

IC / PP No

:

S2681311E

Nationality

:

SINGAPOREAN

Date of Appointment

:

04/12/2002



MANAGEMENT

 

 

 

1)

Name of Subject

:

RICHARD VERREAULT

Position

:

DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

T S TAY PUBLIC ACCOUNTIN G CORPORATI ON

Auditor' Address

:

N/A

 

Auditor

:

T S TAY PUBLIC ACCOUNTIN G CORPORATI ON

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

PRISCILLA CHAN WAI TENG

IC / PP No

:

S1437234B

Address

:

334, KRETA AYER ROAD, 16-02, 080334, SINGAPORE.

 

 

 

BANKING


No Banker found in our databank.



ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201214868

18/12/2012

N/A

NATIONAL BANK OF CANADA

-

Unsatisfied

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

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

[

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

OPERATIONS

 

Goods Traded

:

SEPARATION/MIXING EQUIPMENT

 

Total Number of Employees:

YEAR

2015

GROUP

N/A

COMPANY

25

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) trading and servicing of separation/mixing equipment.

The Subject is the supplier of high performance liquid/solid separation equipment and process technology, servicing customers in the steel, mineral, pulp and paper, power, petrochemical, industrial water and waste water industries.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

65 6227 0239 / 65 6227 6760

Current Telephone Number

:

65-62270239

Match

:

YES

Address Provided by Client

:

10 ANQ MO KIO STREET 65, # 05-14 TECHPOINT SINGAPORE 569059

Current Address

:

10 ANG MO KIO STREET 65 TECHPOINT #05-14, 569059, SINGAPORE.

Match

:

YES

 

Other Investigations

 

On 25th February 2015 we contacted one of the staff from the Subject and he provided some information.


FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Decreased

[

2009 - 2013

]

Profit/(Loss) Before Tax

:

Decreased

[

2009 - 2013

]

Return on Shareholder Funds

:

Unfavourable

[

(63.14%)

]

Return on Net Assets

:

Unfavourable

[

(65.24%)

]

The continuous fall in turnover could be due to the lower demand for the Subject's products / services.The Subject incurred losses during the year due to the inefficient control of its operating costs. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns.

Working Capital Control

Stock Ratio

:

Favourable

[

52 Days

]

Debtor Ratio

:

Favourable

[

38 Days

]

Creditors Ratio

:

Favourable

[

37 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The favourable debtors' days could be due to the good credit control measures implemented by the Subject. The Subject had a favourable creditors' ratio where the Subject could be taking advantage of the cash discounts and also wanting to maintain goodwill with its creditors.

Liquidity

Liquid Ratio

:

Unfavourable

[

0.78 Times

]

Current Ratio

:

Unfavourable

[

0.78 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

[

0.00 Times

]

The Subject's interest cover was nil as it did not pay any interest during the year. 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 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 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 : LIMITED

 

 

 

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)

(Source : Department of Statistics)



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

 

 


Incorporated in 2002, the Subject is a Private Limited company, focusing on trading and servicing of separation/mixing equipment. 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. A paid up capital of SGD 1,631,100 allows the Subject to expand its business more comfortably. With a strong backing from its shareholder, 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. Being a small company, the Subject's business operation is supported by 25 employees. Overall, we regard that the Subject's management capability is weak. Without capable management, the Subject is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business.


Due to the challenging market conditions, the Subject's business performance seems to be deteriorating and losses incurred. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. 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 SGD 1,915,659, the Subject should be able to maintain its business in the near terms.


Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth . 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.


The Subject's payment habit is average. With its adequate working capital, the Subject should be able to pay its short term debts.


The industry shows an upward trend and this trend is very likely to sustain in the near terms. Hence, the Subject is expected to benefit from the favourable outlook of the industry.


Based on the above condition, we recommend credit be granted to the Subject normally.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

OVIVO SINGAPORE PTE. LTD.

 

Financial Year End

2013-03-31

2012-03-31

2011-03-31

2010-03-31

2009-03-31

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

SGD

SGD

SGD

SGD

SGD

TURNOVER

12,852,560

18,454,532

21,189,681

10,298,828

8,493,408

Other Income

31,317

-

-

-

-

----------------

----------------

----------------

----------------

----------------

Total Turnover

12,883,877

18,454,532

21,189,681

10,298,828

8,493,408

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

(1,249,772)

1,110,369

1,299,382

971,058

395,706

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

(1,249,772)

1,110,369

1,299,382

971,058

395,706

Taxation

40,196

(161,804)

(184,912)

(143,145)

(42,075)

----------------

----------------

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

(1,209,576)

948,565

1,114,470

827,913

353,631

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

1,494,135

545,570

-

-

(353,631)

Prior year adjustment

-

-

(568,900)

(827,913)

-

----------------

----------------

----------------

----------------

----------------

As restated

1,494,135

545,570

(568,900)

(827,913)

(353,631)

----------------

----------------

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

284,559

1,494,135

545,570

-

-

----------------

----------------

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

284,559

1,494,135

545,570

-

-

=============

=============

=============

=============

=============

 

 

BALANCE SHEET

 

 

OVIVO SINGAPORE PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

143,578

191,634

4,922,257

9,957

23,686

Others

2,892,626

4,187,970

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL INTANGIBLE ASSETS

2,892,626

4,187,970

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL LONG TERM ASSETS

3,036,204

4,379,604

4,922,257

9,957

23,686

Stocks

1

1

-

-

-

Contract work-in-progress

1,844,539

2,093,413

-

-

-

Trade debtors

1,322,157

4,047,635

-

-

-

Other debtors, deposits & prepayments

511,922

521,416

-

-

-

Amount due from holding company

-

820,869

-

-

-

Cash & bank balances

284,538

1,439,846

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT ASSETS

3,963,157

8,923,180

9,595,960

3,118,109

3,917,694

----------------

----------------

----------------

----------------

----------------

TOTAL ASSET

6,999,361

13,302,784

14,518,217

3,128,066

3,941,380

=============

=============

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

1,319,518

2,607,764

-

-

-

Other creditors & accruals

3,679,293

7,305,679

-

-

-

Provision for taxation

84,891

264,106

-

-

-

----------------

----------------

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

5,083,702

10,177,549

12,341,547

2,065,866

3,707,093

----------------

----------------

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

(1,120,545)

(1,254,369)

(2,745,587)

1,052,243

210,601

----------------

----------------

----------------

----------------

----------------

TOTAL NET ASSETS

1,915,659

3,125,235

2,176,670

1,062,200

234,287

=============

=============

=============

=============

=============

SHARE CAPITAL

Ordinary share capital

1,631,100

1,631,100

1,631,100

1,631,100

1,631,100

----------------

----------------

----------------

----------------

----------------

TOTAL SHARE CAPITAL

1,631,100

1,631,100

1,631,100

1,631,100

1,631,100

Retained profit/(loss) carried forward

284,559

1,494,135

545,570

0

0

Others

-

-

-

(568,900)

(1,396,813)

----------------

----------------

----------------

----------------

----------------

TOTAL RESERVES

284,559

1,494,135

545,570

(568,900)

(1,396,813)

----------------

----------------

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

1,915,659

3,125,235

2,176,670

1,062,200

234,287

TOTAL LONG TERM LIABILITIES

-

-

-

0

0

----------------

----------------

----------------

----------------

----------------

1,915,659

3,125,235

2,176,670

1,062,200

234,287

=============

=============

=============

=============

=============

 

 

FINANCIAL RATIO

 

 

OVIVO SINGAPORE PTE. LTD.

 

TYPES OF FUNDS

Cash

284,538

1,439,846

-

-

-

Net Liquid Funds

284,538

1,439,846

-

-

-

Net Liquid Assets

(1,120,546)

(1,254,370)

(2,745,587)

1,052,243

210,601

Net Current Assets/(Liabilities)

(1,120,545)

(1,254,369)

(2,745,587)

1,052,243

210,601

Net Tangible Assets

(976,967)

(1,062,735)

2,176,670

1,062,200

234,287

Net Monetary Assets

(1,120,546)

(1,254,370)

(2,745,587)

1,052,243

210,601

BALANCE SHEET ITEMS

Total Borrowings

0

0

-

-

-

Total Liabilities

5,083,702

10,177,549

12,341,547

2,065,866

3,707,093

Total Assets

6,999,361

13,302,784

14,518,217

3,128,066

3,941,380

Net Assets

1,915,659

3,125,235

2,176,670

1,062,200

234,287

Net Assets Backing

1,915,659

3,125,235

2,176,670

1,062,200

234,287

Shareholders' Funds

1,915,659

3,125,235

2,176,670

1,062,200

234,287

Total Share Capital

1,631,100

1,631,100

1,631,100

1,631,100

1,631,100

Total Reserves

284,559

1,494,135

545,570

(568,900)

(1,396,813)

LIQUIDITY (Times)

Cash Ratio

0.06

0.14

-

-

-

Liquid Ratio

0.78

0.88

-

-

-

Current Ratio

0.78

0.88

0.78

1.51

1.06

WORKING CAPITAL CONTROL (Days)

Stock Ratio

52

41

-

-

-

Debtors Ratio

38

80

-

-

-

Creditors Ratio

37

52

-

-

-

SOLVENCY RATIOS (Times)

Gearing Ratio

0.00

0.00

-

-

-

Liabilities Ratio

2.65

3.26

5.67

1.94

15.82

Times Interest Earned Ratio

0.00

0.00

-

-

-

Assets Backing Ratio

(0.60)

(0.65)

1.33

0.65

0.14

PERFORMANCE RATIO (%)

Operating Profit Margin

(9.72)

6.02

6.13

9.43

4.66

Net Profit Margin

(9.41)

5.14

5.26

8.04

4.16

Return On Net Assets

(65.24)

35.53

59.70

91.42

168.90

Return On Capital Employed

(25.99)

15.18

59.70

91.42

168.90

Return On Shareholders' Funds/Equity

(63.14)

30.35

51.20

77.94

150.94

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.61.79

UK Pound

1

Rs.95.42

Euro

1

Rs.69.29

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

SDA

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.