|
Report Date : |
02.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
PTT INTERNATIONAL TRADING PTE LTD |
|
|
|
|
Registered Office : |
391A, Orchard Road, 12-01/04, Ngee Ann City, Tower A, 238873 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
01.12.2000 |
|
|
|
|
Com. Reg. No.: |
200010108-W |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Wholesaler of crude petroleum |
|
|
|
|
No. of Employee : |
30 [2014] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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. |
: |
200010108-W |
|
COMPANY NAME |
: |
PTT INTERNATIONAL
TRADING PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
01/12/2000 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
391A, ORCHARD ROAD, 12-01/04, NGEE ANN
CITY, TOWER A, 238873, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
391A ORCHARD ROAD #12-01/04, #12-05 &
12-10, NGEE ANN CITY TOWER A, 238873, SINGAPORE. |
|
TEL.NO. |
: |
65-67346540 |
|
FAX.NO. |
: |
65-67343397 |
|
CONTACT PERSON |
: |
DISATHAT PANYARACHUN ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF CRUDE PETROLEUM |
|
ISSUED AND PAID UP CAPITAL |
: |
6,100,000.00 ORDINARY SHARE, OF A VALUE OF
SGD 6,100,000.00 |
|
SALES |
: |
USD 11,569,861,988 [2013] |
|
NET WORTH |
: |
USD (1,088,442) [2013] |
|
STAFF STRENGTH |
: |
30 [2014] |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL CONDITION |
: |
POOR |
|
PAYMENT |
: |
PROMPT |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
N/A |
|
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) wholesale of crude petroleum.
The immediate holding company of the Subject is PTT PUBLIC COMPANY LIMITED, a company incorporated in THAILAND.
Share Capital
History
|
Date |
Issue & Paid
Up Capital |
|
30/12/2014 |
SGD 6,100,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PTT PUBLIC COMPANY LIMITED |
555, VIBHAVADI RANGSIT ROAD, CHATUCHAK,
10900, BANGKOK, THAILAND. |
T07UF0209F |
6,100,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
6,100,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
UNITED ARAB EMIRATES (DUBAI) |
PTT INTERNATIONAL TRADING DMCC |
100.00 |
31/12/2013 |
|
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
SARAKORN KULATHAM |
|
Address |
: |
29 SOI INTRAMARA 8, SUTISAN ROAD SAMESAENNAI, BANGKOK, THAILAND. |
|
IC / PP No |
: |
F592080 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
01/02/2010 |
DIRECTOR 2
|
Name Of Subject |
: |
DONNAYA SENANARONG |
|
Address |
: |
502/1, PRACHARAT 2 ROAD, BANGSUE, BANGKOK 10800, THAILAND. |
|
IC / PP No |
: |
F621982 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
28/08/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
MR. DISATHAT PANYARACHUN |
|
Address |
: |
8, SCOTTS ROAD, 37-08, SCOTTS SQUARE, 228238, SINGAPORE. |
|
IC / PP No |
: |
G5365790M |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
01/11/2012 |
DIRECTOR 4
|
Name Of Subject |
: |
WIRAT UANARUMIT |
|
Address |
: |
33/324, SOI 2/5, MOO BAAN LADAWAN, SRINAKARIN, SAMUTPRAKARN, THAILAND. |
|
IC / PP No |
: |
F635678 |
|
Nationality |
: |
THAI |
|
Date of Appointment |
: |
01/06/2014 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
DISATHAT PANYARACHUN |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
WINSTON SEOW HAN CHIANG |
|
IC / PP No |
: |
S6831706A |
|
|
Address |
: |
312, SERANGOON AVENUE, 2, 04-186, 550312, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
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 against the Subject whether the
subject has been involved in any litigation.
LEGAL
ACTION
|
|
|||||||||||||
|
Code No |
: |
99 |
Case No |
: |
22983 |
||||||||
|
Year |
: |
2011 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
MAGISTRATE COURT |
|||||||||||
|
Date Filed |
: |
22/09/2011 |
|||||||||||
|
Solicitor Ref |
: |
AR/LYD/10234446 |
|||||||||||
|
Solicitor Firm |
: |
KHATTARWONG |
|||||||||||
|
Plaintiff |
: |
KHATTARWONG (A FIRM) |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Amount Claimed |
: |
14636.04 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
OTHER/MISCELLANEOUS |
|||||||||||
|
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 |
[ |
X |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
Percentage |
: |
40% |
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
Percentage |
: |
60% |
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
CRUDE PETROLEUM |
|
|
Ownership of premises |
: |
LEASED/RENTED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2014 |
2013 |
2012 |
2011 |
2010 |
||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
N/A |
||||
|
COMPANY |
30 |
30 |
20 |
20 |
22 |
||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) wholesale of crude
petroleum.
The Subject engaged in wholesale of petroleum product such as kerosine,
lubricant, crude oil etc.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-67346540 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
391A ORCHARD ROAD 12-01/04, 12-05 & 12-10, NGEE ANN CITY TOWER A,238873,SINGAPORE |
|
Current Address |
: |
391A ORCHARD ROAD #12-01/04, #12-05 & 12-10, NGEE ANN CITY TOWER A, 238873, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(379.73%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(670.03%) |
] |
|
|
The Subject's turnover increased steadily as the demand for its products
/ services increased due to the goodwill built up over the years.The
management had succeeded in turning the Subject into a profit making company.
The profit could be due to better control of its operating costs and
efficiency in utilising its resources. 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 |
[ |
2 Days |
] |
|
|
Debtor Ratio |
: |
Favourable |
[ |
33 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
2 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The favourable debtors' days could
be due to the good credit control measures implemented by the Subject. The
Subject had a favourable creditors' ratio where the Subject could be taking
advantage of the cash discounts and also wanting to maintain goodwill with
its creditors. |
||||||
|
Liquidity |
||||||
|
Liquid Ratio |
: |
Acceptable |
[ |
0.96 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.00 Times |
] |
|
|
The Subject's liquid ratio was slightly low. This could indicate that
the Subject's working capital was slightly deficient. The Subject will have
to improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
2.38 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
(358.25 Times) |
] |
|
|
The Subject's interest cover was low. If its profits fall or when
interest rate rises, it may not be able to meet all its interest
payment. The Subject's gearing was negative during the year as its
shareholders' funds was in the red. This means the Subject is running its
business using borrowed money. We consider the Subject as facing high
financial risks. |
||||||
|
Overall
Assessment : |
||||||
|
The higher turnover had helped to reduce the Subject's losses. 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. If there is a fall in the Subject's profit or any increase in
interest rate, the Subject may not be able to generate sufficient cash-flow
to service its interest. The Subject has high financial risks. If its
shareholders do not inject more capital into the company or if its business
performance does not improve, its going concern may be in question. |
||||||
|
Overall
financial condition of the Subject : POOR |
||||||
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. |
|
PTT
INTERNATIONAL TRADING PTE LTD |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial Type |
FULL |
FULL |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
11,569,861,988 |
6,145,422,821 |
4,929,589,009 |
3,191,762,752 |
2,025,234,657 |
|
Other Income |
4,436,706 |
928,567 |
62,995 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
11,574,298,694 |
6,146,351,388 |
4,929,652,004 |
3,191,762,752 |
2,025,234,657 |
|
Costs of Goods Sold |
(11,556,175,758) |
(6,170,125,294) |
(4,889,201,780) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
18,122,936 |
(23,773,906) |
40,450,224 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
4,138,152 |
(37,078,714) |
15,764,327 |
(50,539) |
15,740,732 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
4,138,152 |
(37,078,714) |
15,764,327 |
(50,539) |
15,740,732 |
|
Taxation |
(5,058) |
(187,121) |
(877,299) |
(252,731) |
(584,471) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
4,133,094 |
(37,265,835) |
14,887,028 |
(303,270) |
15,156,261 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
(9,206,622) |
28,059,213 |
13,172,185 |
13,475,455 |
(1,680,806) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
(9,206,622) |
28,059,213 |
13,172,185 |
13,475,455 |
(1,680,806) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(5,073,528) |
(9,206,622) |
28,059,213 |
13,172,185 |
13,475,455 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(5,073,528) |
(9,206,622) |
28,059,213 |
13,172,185 |
13,475,455 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Loan from holding company |
23,408 |
47,461 |
- |
- |
- |
|
Term loan / Borrowing |
2,917,329 |
5,835,149 |
- |
- |
- |
|
Others |
58,591 |
- |
5,674,013 |
3,368,738 |
2,531,137 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,999,328 |
5,882,610 |
5,674,013 |
3,368,738 |
2,531,137 |
|
|
============= |
============= |
============= |
============= |
============= |
BALANCE
SHEET
|
|
|
|
PTT
INTERNATIONAL TRADING PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,501,086 |
542,276 |
257,482 |
309,839 |
177,284 |
|
Investments |
13,424 |
- |
- |
14,245,014 |
14,245,014 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
13,424 |
- |
- |
14,245,014 |
14,245,014 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,514,510 |
542,276 |
257,482 |
14,554,853 |
14,422,298 |
|
Stocks |
67,272,215 |
132,004,212 |
48,934,057 |
587,588,535 |
27,548,590 |
|
Trade debtors |
1,032,446,509 |
303,421,225 |
240,162,686 |
170,796,451 |
239,006,300 |
|
Other debtors, deposits & prepayments |
12,218,277 |
4,347,133 |
7,999,182 |
2,530,708 |
1,607,759 |
|
Short term deposits |
908,915 |
1,085,425 |
- |
8,501 |
7,743 |
|
Amount due from holding company |
58,279,979 |
11,966,343 |
9,028,607 |
33,407,756 |
2,152,669 |
|
Amount due from related companies |
427,031,533 |
9,522,353 |
1,903,307 |
84,634,513 |
43,276,248 |
|
Cash & bank balances |
48,216,458 |
65,878,317 |
21,533,279 |
19,238,144 |
4,852,897 |
|
Others |
4,749,948 |
441,129,081 |
66,603,897 |
14,757,119 |
2,379,713 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
1,651,123,834 |
969,354,089 |
396,165,015 |
912,961,727 |
320,831,919 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
1,652,638,344 |
969,896,365 |
396,422,497 |
927,516,580 |
335,254,217 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
64,942,001 |
35,920,661 |
152,276,312 |
105,908,484 |
4,800,668 |
|
Other creditors & accruals |
1,241,912 |
1,087,745 |
12,971,647 |
638,139 |
647,286 |
|
Bill & acceptances payable |
389,933,425 |
388,996,080 |
117,826,792 |
199,474,695 |
68,740,321 |
|
Amounts owing to holding company |
692,027,117 |
58,726,862 |
25,979,803 |
220,767,242 |
14,570,843 |
|
Amounts owing to related companies |
286,389,793 |
42,135,387 |
5,108,469 |
6,205,507 |
16,078,445 |
|
Provision for taxation |
- |
- |
790,662 |
93,055 |
620,839 |
|
Other liabilities |
219,169,345 |
448,226,162 |
49,399,509 |
377,247,186 |
212,310,270 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
1,653,703,593 |
975,092,897 |
364,353,194 |
910,334,308 |
317,768,672 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(2,579,759) |
(5,738,808) |
31,811,821 |
2,627,419 |
3,063,247 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
(1,065,249) |
(5,196,532) |
32,069,303 |
17,182,272 |
17,485,545 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
3,986,897 |
3,986,897 |
3,986,897 |
3,986,897 |
3,986,897 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
3,986,897 |
3,986,897 |
3,986,897 |
3,986,897 |
3,986,897 |
|
General reserve |
(1,811) |
- |
- |
- |
- |
|
Retained profit/(loss) carried forward |
(5,073,528) |
(9,206,622) |
28,059,213 |
13,172,185 |
13,475,455 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(5,075,339) |
(9,206,622) |
28,059,213 |
13,172,185 |
13,475,455 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(1,088,442) |
(5,219,725) |
32,046,110 |
17,159,082 |
17,462,352 |
|
Deferred taxation |
23,193 |
23,193 |
23,193 |
23,190 |
23,193 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
23,193 |
23,193 |
23,193 |
23,190 |
23,193 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
(1,065,249) |
(5,196,532) |
32,069,303 |
17,182,272 |
17,485,545 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
|
|
PTT
INTERNATIONAL TRADING PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
49,125,373 |
66,963,742 |
21,533,279 |
19,246,645 |
4,860,640 |
|
Net Liquid Funds |
(340,808,052) |
(322,032,338) |
(96,293,513) |
(180,228,050) |
(63,879,681) |
|
Net Liquid Assets |
(69,851,974) |
(137,743,020) |
(17,122,236) |
(584,961,116) |
(24,485,343) |
|
Net Current Assets/(Liabilities) |
(2,579,759) |
(5,738,808) |
31,811,821 |
2,627,419 |
3,063,247 |
|
Net Tangible Assets |
(1,065,249) |
(5,196,532) |
32,069,303 |
17,182,272 |
17,485,545 |
|
Net Monetary Assets |
(69,875,167) |
(137,766,213) |
(17,145,429) |
(584,984,306) |
(24,508,536) |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
389,933,425 |
388,996,080 |
117,826,792 |
199,474,695 |
68,740,321 |
|
Total Liabilities |
1,653,726,786 |
975,116,090 |
364,376,387 |
910,357,498 |
317,791,865 |
|
Total Assets |
1,652,638,344 |
969,896,365 |
396,422,497 |
927,516,580 |
335,254,217 |
|
Net Assets |
(1,065,249) |
(5,196,532) |
32,069,303 |
17,182,272 |
17,485,545 |
|
Net Assets Backing |
(1,088,442) |
(5,219,725) |
32,046,110 |
17,159,082 |
17,462,352 |
|
Shareholders' Funds |
(1,088,442) |
(5,219,725) |
32,046,110 |
17,159,082 |
17,462,352 |
|
Total Share Capital |
3,986,897 |
3,986,897 |
3,986,897 |
3,986,897 |
3,986,897 |
|
Total Reserves |
(5,075,339) |
(9,206,622) |
28,059,213 |
13,172,185 |
13,475,455 |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.03 |
0.07 |
0.06 |
0.02 |
0.02 |
|
Liquid Ratio |
0.96 |
0.86 |
0.95 |
0.36 |
0.92 |
|
Current Ratio |
1.00 |
0.99 |
1.09 |
1.00 |
1.01 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
2 |
8 |
4 |
67 |
5 |
|
Debtors Ratio |
33 |
18 |
18 |
20 |
43 |
|
Creditors Ratio |
2 |
2 |
11 |
12 |
1 |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
(358.25) |
(74.52) |
3.68 |
11.63 |
3.94 |
|
Liabilities Ratio |
(1,519.35) |
(186.81) |
11.37 |
53.05 |
18.20 |
|
Times Interest Earned Ratio |
2.38 |
(5.30) |
3.78 |
0.98 |
7.22 |
|
Assets Backing Ratio |
(0.27) |
(1.30) |
8.04 |
4.31 |
4.39 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
0.04 |
(0.60) |
0.32 |
-0.00 |
0.78 |
|
Net Profit Margin |
0.04 |
(0.61) |
0.30 |
(0.01) |
0.75 |
|
Return On Net Assets |
(670.03) |
600.33 |
66.85 |
19.31 |
104.50 |
|
Return On Capital Employed |
(670.03) |
600.33 |
66.85 |
19.31 |
104.50 |
|
Return On Shareholders' Funds/Equity |
(379.73) |
713.94 |
46.46 |
(1.77) |
86.79 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
NOTES TO
ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.32 |
|
|
1 |
Rs.98.63 |
|
Euro |
1 |
Rs.76.59 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.