MIRA INFORM REPORT

 

 

Report No. :

302277

Report Date :

13.01.2015

 

IDENTIFICATION DETAILS

 

Name :

KYOWA HAKKO BIO SINGAPORE PTE. LTD.

 

 

Registered Office :

47, Scotts Road, 12-05, Goldbell Tower, 228233,

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

28.01.2010

 

 

Com. Reg. No.:

201002185-G

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Wholesale of chemicals, amino acid

 

 

No. of Employees :

07 [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 :

Slow but correct

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – 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

Company name and address

 

 

REGISTRATION NO.

:

201002185-G

COMPANY NAME

:

KYOWA HAKKO BIO SINGAPORE PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

28/01/2010

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

47, SCOTTS ROAD, 12-05, GOLDBELL TOWER, 228233, SINGAPORE.

BUSINESS ADDRESS

:

47 SCOTTS ROAD #12-05 GOLDBELL TOWER,, 228233, SINGAPORE.

TEL.NO.

:

65-67327889

FAX.NO.

:

65-67327989

CONTACT PERSON

:

GOH ANN CHUAN ( DIRECTOR )

PRINCIPAL ACTIVITY

:

WHOLESALE OF CHEMICALS, AMINO ACID

ISSUED AND PAID UP CAPITAL

:

4,000,000.00 ORDINARY SHARE, OF A VALUE OF USD 4,000,000.00

SALES

:

USD 29,124,041 [2013]

NET WORTH

:

USD 8,882,663 [2013]

STAFF STRENGTH

:

7 [2015]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

FAIR

PAYMENT

:

POOR

MANAGEMENT CAPABILITY

:

AVERAGE

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) wholesale of chemicals, amino acid.

 

The immediate holding company of the Subject is KYOWA HAKKO (HONG KONG) COMPANY, LIMITED, a company incorporated in HONG KONG.

 

Share Capital History

Date

Issue & Paid Up Capital

12/01/2015

USD 4,000,000.00

 

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

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

KYOWA HAKKO (HONG KONG) COMPANY, LIMITED

ROOM 1908-10, HANG LUNG CENTRE, 2-20 PATERSON STREET, CAUSEWAY BAY, HONG KONG.

T10UF0273

4,000,000.00

100.00

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

------

4,000,000.00

100.00

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

=====

+ Also Director



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

MAEDA MASAKI

Address

:

9-6-13, KAMEIDO, KOTO-KU, TOKYO, 136-0071, JAPAN.

IC / PP No

:

TK3395142

Nationality

:

JAPANESE

Date of Appointment

:

28/12/2010

 

DIRECTOR 2

 

Name Of Subject

:

KOTANI CHIKAKUNI

Address

:

E-607, RECENT HILLS, 3-1-6, MIDORIGAOKA YACHIYO-SHI, CHIBA, 276-0049, JAPAN.

IC / PP No

:

TG0866737

Nationality

:

JAPANESE

Date of Appointment

:

23/02/2010

 

DIRECTOR 3

 

Name Of Subject

:

GOH ANN CHUAN

Address

:

34, WARINGIN PARK, SIN CHUAN GARDEN, 416345, SINGAPORE.

IC / PP No

:

S1621960F

Nationality

:

SINGAPOREAN

Date of Appointment

:

28/01/2010

 

DIRECTOR 4

 

Name Of Subject

:

FUJITA KAKU

Address

:

8-13-28, MIYAMOTO, FUNABASHI, CHIBA, JAPAN.

IC / PP No

:

TZ0513020

Nationality

:

JAPANESE

Date of Appointment

:

02/09/2013



MANAGEMENT

 

 

 

1)

Name of Subject

:

FUJITA KAKU

Position

:

MANAGING DIRECTOR

 

2)

Name of Subject

:

GOH ANN CHUAN

Position

:

DIRECTOR

 

AUDITOR

 

Auditor

:

ERNST & YOUNG LLP

Auditor' Address

:

N/A

 

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

MITANI MASATOSHI

IC / PP No

:

S7376581A

Address

:

49, STREET THOMAS WALK, 11-07, THE BAYRON, 238140, 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 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

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

X

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

WORLDWIDE

Credit Term

:

N/A

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

AMINO ACID

 

Total Number of Employees:

YEAR

2015

2014

GROUP

N/A

N/A

COMPANY

7

7

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) wholesale of chemicals, amino acid.

The Subject refused to disclose its operation.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

6567327889

Current Telephone Number

:

65-67327889

Match

:

YES

Address Provided by Client

:

47 SCOTTS ROAD, #12-05, GOLDBELL TOWERS, SINGAPORE 228233

Current Address

:

47 SCOTTS ROAD #12-05 GOLDBELL TOWER,, 228233, SINGAPORE.

Match

:

YES

 

Other Investigations


we contacted one of the staff from the Subject and she provided limited information.

She refused to disclose the Subject's number of employees.


FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Decreased

[

2010 - 2013

]

Profit/(Loss) Before Tax

:

Decreased

[

2010 - 2013

]

Return on Shareholder Funds

:

Acceptable

[

14.87%

]

Return on Net Assets

:

Acceptable

[

17.00%

]

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. The Subject's management had generated acceptable return for its shareholders using its assets.

Working Capital Control

Stock Ratio

:

Favourable

[

48 Days

]

Debtor Ratio

:

Unfavourable

[

71 Days

]

Creditors Ratio

:

Unfavourable

[

144 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

:

Favourable

[

1.24 Times

]

Current Ratio

:

Unfavourable

[

1.58 Times

]

A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due.

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 performance deteriorated over the years with lower turnover and profit. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. 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 : 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 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 2010, the Subject is a Private Limited company, focusing on wholesale of chemicals, amino acid. 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 4,000,000 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. Being a small company, the Subject's business operation is supported by 7 employees. 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 an acceptable range which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. 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 8,882,663, 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.

The poor payment habit may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies.

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.

KYOWA HAKKO BIO SINGAPORE PTE. LTD.

 

Financial Year End

2013-12-31

2012-12-31

2011-12-31

2010-12-31

Months

12

12

12

12

Consolidated Account

Company

Company

Company

Company

Audited Account

YES

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

YES

Financial Type

FULL

FULL

SUMMARY

SUMMARY

Currency

USD

USD

SGD

SGD

TURNOVER

29,124,041

30,820,295

35,837,333

24,501,024

Other Income

24,744

12,616

-

-

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

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

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

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

Total Turnover

29,148,785

30,832,911

35,837,333

24,501,024

Costs of Goods Sold

(25,546,862)

(27,100,247)

-

-

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

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

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

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

Gross Profit

3,601,923

3,732,664

-

-

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

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

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

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

PROFIT/(LOSS) FROM OPERATIONS

1,509,698

1,779,919

1,864,174

1,222,916

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

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

1,509,698

1,779,919

1,864,174

1,222,916

Taxation

(188,970)

(276,989)

(277,623)

(203,796)

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

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

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

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

PROFIT/(LOSS) AFTER TAXATION

1,320,728

1,502,930

1,586,551

1,019,120

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

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

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

3,561,935

2,059,005

2,081,120

1,062,000

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

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

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

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

As restated

3,561,935

2,059,005

2,081,120

1,062,000

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

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

4,882,663

3,561,935

3,667,671

2,081,120

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

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

4,882,663

3,561,935

3,667,671

2,081,120

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

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

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

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

 

 

 

BALANCE SHEET

 

 

KYOWA HAKKO BIO SINGAPORE PTE. LTD.

 

ASSETS EMPLOYED:

FIXED ASSETS

59,473

73,546

3,116,870

2,857,510

Associated companies

205,714

205,714

-

-

Others

33

8

-

-

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

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

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

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

TOTAL LONG TERM INVESTMENTS/OTHER ASSETS

205,747

205,722

-

-

Others

2,200,000

2,200,000

-

-

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

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

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

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

TOTAL INTANGIBLE ASSETS

2,200,000

2,200,000

-

-

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

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

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

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

TOTAL LONG TERM ASSETS

2,465,220

2,479,268

3,116,870

2,857,510

Stocks

3,797,259

3,792,914

-

-

Trade debtors

5,673,348

3,761,946

-

-

Other debtors, deposits & prepayments

42,855

36,237

-

-

Short term deposits

7,500,000

5,800,000

-

-

Cash & bank balances

548,290

807,543

-

-

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

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

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

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

TOTAL CURRENT ASSETS

17,561,752

14,198,640

15,986,897

17,029,980

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

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

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

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

TOTAL ASSET

20,026,972

16,677,908

19,103,767

19,887,490

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

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

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

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

CURRENT LIABILITIES

Trade creditors

10,065,383

8,488,675

-

-

Other creditors & accruals

822,226

324,698

-

-

Provision for taxation

256,700

302,600

-

-

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

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

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

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

TOTAL CURRENT LIABILITIES

11,144,309

9,115,973

11,436,096

13,806,370

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

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

6,417,443

5,082,667

4,550,801

3,223,610

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

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

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

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

TOTAL NET ASSETS

8,882,663

7,561,935

7,667,671

6,081,120

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

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

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

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

SHARE CAPITAL

Ordinary share capital

4,000,000

4,000,000

4,000,000

4,000,000

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

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

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

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

TOTAL SHARE CAPITAL

4,000,000

4,000,000

4,000,000

4,000,000

Retained profit/(loss) carried forward

4,882,663

3,561,935

3,667,671

2,081,120

Others

-

-

0

0

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

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

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

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

TOTAL RESERVES

4,882,663

3,561,935

3,667,671

2,081,120

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

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

8,882,663

7,561,935

7,667,671

6,081,120

TOTAL LONG TERM LIABILITIES

-

-

0

0

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

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

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

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

8,882,663

7,561,935

7,667,671

6,081,120

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

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

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

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

 

 

 

FINANCIAL RATIO

 

 

KYOWA HAKKO BIO SINGAPORE PTE. LTD.

 

TYPES OF FUNDS

Cash

8,048,290

6,607,543

-

-

Net Liquid Funds

8,048,290

6,607,543

-

-

Net Liquid Assets

2,620,184

1,289,753

4,550,801

3,223,610

Net Current Assets/(Liabilities)

6,417,443

5,082,667

4,550,801

3,223,610

Net Tangible Assets

6,682,663

5,361,935

7,667,671

6,081,120

Net Monetary Assets

2,620,184

1,289,753

4,550,801

3,223,610

BALANCE SHEET ITEMS

Total Borrowings

0

0

-

-

Total Liabilities

11,144,309

9,115,973

11,436,096

13,806,370

Total Assets

20,026,972

16,677,908

19,103,767

19,887,490

Net Assets

8,882,663

7,561,935

7,667,671

6,081,120

Net Assets Backing

8,882,663

7,561,935

7,667,671

6,081,120

Shareholders' Funds

8,882,663

7,561,935

7,667,671

6,081,120

Total Share Capital

4,000,000

4,000,000

4,000,000

4,000,000

Total Reserves

4,882,663

3,561,935

3,667,671

2,081,120

LIQUIDITY (Times)

Cash Ratio

0.72

0.72

-

-

Liquid Ratio

1.24

1.14

-

-

Current Ratio

1.58

1.56

1.40

1.23

WORKING CAPITAL CONTROL (Days)

Stock Ratio

48

45

-

-

Debtors Ratio

71

45

-

-

Creditors Ratio

144

114

-

-

SOLVENCY RATIOS (Times)

Gearing Ratio

0.00

0.00

-

-

Liabilities Ratio

1.25

1.21

1.49

2.27

Times Interest Earned Ratio

0.00

0.00

-

-

Assets Backing Ratio

1.67

1.34

1.92

1.52

PERFORMANCE RATIO (%)

Operating Profit Margin

5.18

5.78

5.20

4.99

Net Profit Margin

4.53

4.88

4.43

4.16

Return On Net Assets

17.00

23.54

24.31

20.11

Return On Capital Employed

13.62

18.23

24.31

20.11

Return On Shareholders' Funds/Equity

14.87

19.87

20.69

16.76

Dividend Pay Out Ratio (Times)

0.00

0.00

-

-

NOTES TO ACCOUNTS

Contingent Liabilities

0

0




 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.16

UK Pound

1

Rs.94.28

Euro

1

Rs.73.73

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIS

 

               

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.