|
Report No. : |
331362 |
|
Report Date : |
10.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
EXCELPOINT SYSTEMS (PTE) LTD |
|
|
|
|
Registered Office : |
15, Changi Business Park Central, 1, 06-00, 486057 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
19.11.1987 |
|
|
|
|
Com. Reg. No.: |
198703628-M |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in the software and multimedia works(inc software
maintenance), computer systems intergration services. |
|
|
|
|
No. of Employees : |
150 [2015] |
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 : |
Exists |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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.
Unemployment is very low. The economy depends heavily on exports, particularly
of consumer electronics, information technology products, medical and optical
devices, pharmaceuticals, and on its vibrant transportation, business, and
financial services sectors. The economy contracted 0.6% in 2009 as a result of
the global financial crisis, but has continued to grow since 2010 on the
strength of renewed exports. Growth in 2014 was slower at 2.9%, largely a
result of soft demand for exports amid a sluggish global economy and weak
growth in Singapore’s manufacturing sector. The government is attempting to
restructure Singapore’s economy by weaning its dependence on foreign labor,
addressing weak productivity, and increasing Singaporean wages. Singapore has
attracted major investments in pharmaceuticals and medical technology
production and will continue efforts to strengthen its position as Southeast
Asia's leading financial and high-tech hub. Singapore is a member of the
12-nation Trans-Pacific Partnership free trade negotiations, the Regional
Comprehensive Economic Partnership negotiations with the nine other ASEAN
members plus Australia, China, India, Japan, South Korea and New Zealand, and
in 2015, Singapore will form, with the other ASEAN members, the ASEAN Economic
Community.
|
Source
: CIA |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
198703628-M |
|
COMPANY NAME |
: |
EXCELPOINT SYSTEMS (PTE) LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
19/11/1987 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
15, CHANGI BUSINESS PARK CENTRAL, 1, 06-00, 486057, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
15, CHANGI BUSINESS PARK CENTRAL, 1, 06-00, 486057, SINGAPORE. |
|
TEL.NO. |
: |
65-67418966 |
|
FAX.NO. |
: |
65-67418980 |
|
WEB SITE |
: |
WWW.EXCELPOINT.COM |
|
CONTACT PERSON |
: |
PHUAY YONG HEN ( MANAGING EDITOR ) |
|
PRINCIPAL ACTIVITY |
: |
SOFTWARE AND MULTIMEDIA WORKS(INC SOFTWARE MAINTENANCE), COMPUTER SYSTEMS
INTERGRATION SERVICES |
|
ISSUED AND PAID UP CAPITAL |
: |
6,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD 6,000,000.00 |
|
SALES |
: |
USD 256,717,084 [2013] |
|
NET WORTH |
: |
USD 6,356,749 [2013] |
|
STAFF STRENGTH |
: |
150 [2015] |
|
LITIGATION |
: |
TRACED |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
AVERAGE |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
MARGINAL 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) software and
multimedia works(inc software maintenance), computer systems intergration
services.
The immediate holding company of the Subject is EXCELPOINT TECHNOLOGY
LTD., a company incorporated in SINGAPORE.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
11/06/2015 |
SGD 6,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
EXCELPOINT TECHNOLOGY LTD. |
15, CHANGI BUSINESS PARK CENTRAL 1, 06-00, 486057, SINGAPORE. |
200103280C |
6,000,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
6,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
MR. PHUAY YONG HEN |
|
Address |
: |
22B, KING ALBERT PARK, 598325, SINGAPORE. |
|
IC / PP No |
: |
S1258804F |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
19/11/1987 |
DIRECTOR 2
|
Name Of Subject |
: |
HAN JIAK SIEW |
|
Address |
: |
22B, KING ALBERT PARK, 598325, SINGAPORE. |
|
IC / PP No |
: |
S1248308B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
21/10/1992 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
PHUAY YONG HEN |
|
Position |
: |
MANAGING EDITOR |
|
AUDITOR
|
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
WONG LAI LENG |
|
IC / PP No |
: |
S1176982I |
|
|
Address |
: |
241, BUKIT BATOK EAST AVENUE 5, 02-277, 650241, 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 |
: |
2715 |
||||||||
|
Year |
: |
2009 |
Place |
: |
SINGAPORE |
||||||||
|
Court |
: |
MAGISTRATE COURT |
|||||||||||
|
Date Filed |
: |
02/02/2009 |
|||||||||||
|
Solicitor |
: |
SIOW JIT THONG |
|||||||||||
|
Solicitor Ref |
: |
DS/4441/0508/SM-PI |
|||||||||||
|
Solicitor Firm |
: |
DAVID SIOW CHUA & TAN LLC |
|||||||||||
|
Plaintiff |
: |
DAVID KOI GEK YEOW |
|||||||||||
|
Defendants |
: |
|
|||||||||||
|
Amount Claimed |
: |
6621.70 |
|||||||||||
|
Nature of Claim |
: |
SGD |
|||||||||||
|
Remark |
: |
TORT-NEGLIGENCE |
|||||||||||
|
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 |
: |
30 - 60 DAYS |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Services |
: |
SOFTWARE AND MULTIMEDIA WORKS(INC SOFTWARE MAINTENANCE), COMPUTER
SYSTEMS INTERGRATION SERVICES |
|
|
Ownership of premises |
: |
OWNED |
|
Total Number of Employees: |
|
||||||||
|
YEAR |
2015 |
2013 |
2012 |
2011 |
|||||
|
GROUP |
N/A |
N/A |
N/A |
N/A |
|||||
|
COMPANY |
150 |
150 |
150 |
150 |
|||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) software and
multimedia works(inc software maintenance), computer systems intergration services.
The Subject is one of the companies listed under the Excelpoint group of
companies.
The Group is a total solutions provider of quality components, engineering
designs and supply chain services to electronics manufacturers in Asia
including original equipment manufacturers ("OEM"), original design
manufacturers ("ODM") and electronics manufacturing services
providers ("EMS").
The Group has three research and development (R&D) centres supported by a
team of dedicated R&D professionals to create innovative solutions that
will help customers go to market quickly and efficiently.
The Subject focuses on the development of software and multimedia works.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-67418966 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
15, CHANGI BUSINESS PARK CENTRAL 1, #06-00,486057,SINGAPORE |
|
Current Address |
: |
15, CHANGI BUSINESS PARK CENTRAL, 1, 06-00, 486057, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
31.78% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
42.07% |
] |
|
|
The Subject's turnover increased steadily as the demand for its
products / services increased due to the goodwill built up over the years.The
higher profit could be attributed to the increase in turnover. 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 |
[ |
33 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
55 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
30 Days |
] |
|
|
The Subject's stocks were moving fast thus reducing its holding cost. This
had reduced funds being tied up in stocks. The Subject's management was quite
efficient in handling its debtors. The Subject's debtors days were at an
acceptable range, thus the risk of its debts turning bad was minimised. 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 |
[ |
0.69 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.05 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or injection
of fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Acceptable |
[ |
5.86 Times |
] |
|
|
Gearing Ratio |
: |
Unfavourable |
[ |
4.99 Times |
] |
|
|
The Subject's interest cover was slightly low. If there is no sharp
fall in its profit or sudden increase in the interest rates, we believe the
Subject is able to generate sufficient income to service its interest and repay
the loans. The Subject was highly geared, thus it had a high financial risk.
The Subject was dependent on loans to finance its business needs. In times of
economic downturn and / or high interest rate, the Subject will become less
profitable and competitive than other firms in the same industry, which are
lowly geared. This is because the Subject has to service the interest and to
repay the loan, which will erode part of its profits. The profits will
fluctuate depending on the Subject's turnover and the interest it needs to
pay. |
||||||
|
Overall Assessment : |
||||||
|
Generally, the Subject's performance has improved with higher turnover
and profit. Due to its weak liquidity position, the Subject will be faced with
problems in meeting all its short term obligations if no short term loan is
obtained or additional capital injected into the Subject. The Subject had an
acceptable interest cover. If there is no sudden sharp increase in interest
rate or fall in the Subject's profit, we do believe the Subject is able to
generate sufficient cash flow to service its interest payment. The Subject's
gearing level was high and its going concern will be in doubt if there is no
injection of additional shareholders' funds in times of economic downturn and
/ or high interest rates. |
||||||
|
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 : |
INFORMATION TECHNOLOGY |
|
Singapore's infocomm services industry is well-positioned to tap into
the new business opportunities of the digital age. An early mover in infocomm
technology, Singapore today ranks as the second most network-ready country in
the world and the first in Asia, according to the World Economic Forum's
"Global Information Technology Report 2014". The roll out of the
Intelligent Nation 2015 Master Plan and the National Broadband Network will
further strengthen Singapore's infrastructure network. |
|
|
Furthermore, BMI has a positive outlook for the growth of Singapore's
IT market in 2014, which will underperform emerging market growth rates, but
is expected to outperform against other developed markets. Strong income
growth, exposure to the APAC growth story and government policy will all
support IT market growth over the medium term. Growth from the sales of PC
and devices will slow as high device penetration in the city state means
little prospect for first time sales, but short replacement cycles and strong
demand for premium devices will ensure it remains a lucrative market for
vendors. Considering the government active push to promote Singapore as a destination
for cloud, big data and analytics services, Singapore should be a strong
contender in the data centre space against peers such as Australia, Taiwan,
South Korea and Hong Kong. |
|
|
The information & communications sector grew by 2.3% in the third
quarter of 2014. Previously, in the fourth quarter of 2013, the information
& communications sector grew by 5.0%, following the 6.0% expansion in the
preceding quarter. For the whole of 2013, growth was 5.5%, lower than the
6.2% in 2012. |
|
|
Nonetheless, computer hardware sales forecast to increase from
SGD2.926bn in 2014 to SGD3.333bn in 2018, equating to a compound annual
growth rate (CAGR) of 3.5% in local currency terms. The slowdown in tablet
sales represents downside by a stabilization in desktop and notebook volumes
will see the market continue to grow over the medium term. Besides, software
sales forecast to increase from SGD1.436bn in 2014 to SGD1.733bn in 2018,
representing a CAGR of 5.2% in local currency terms. SME demand for basic
enterprise software (particularly SaaS), complex deployments by large
enterprises and investments in security software will all be growth areas. |
|
|
IT Services sales forecast to increase from SGD3.236bn in 2014 to
SGD4.091bn in 2018, equating to a CAGR of 5.9% in local currency terms.
Growing demand for cloud computing, big data and analytics services from
telecoms, healthcare, logistics and government will support IT services
outperformance. |
|
|
The Intelligent Nation 2015 master plan lays out the blueprint for
Singapore’s infocomm strategies in the digital age, with the creation of some
80,000 jobs and an increase of value-add to SGD 26 billion. The master plan
will incorporate emerging technologies and leverage strategic developments.
Some of these emerging developments include Cloud Computing, Business
Analytics and Green ICT. While Singapore has performed well in international
e-Government rankings, the next e-Government master plan is already in the
pipeline to ensure that we remain at the forefront of e-Government practice
and services. |
|
|
OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
EXCELPOINT SYSTEMS (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 |
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 |
FULL |
FULL |
FULL |
|
Currency |
USD |
USD |
USD |
USD |
USD |
|
TURNOVER |
256,717,084 |
245,011,074 |
182,038,251 |
217,495,255 |
128,433,446 |
|
Other Income |
4,508,507 |
4,263,682 |
4,737,747 |
3,395,487 |
2,663,131 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
261,225,591 |
249,274,756 |
186,775,998 |
220,890,742 |
131,096,577 |
|
Costs of Goods Sold |
(240,490,510) |
(231,343,104) |
(170,131,308) |
(205,111,533) |
(120,479,727) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
20,735,081 |
17,931,652 |
16,644,690 |
15,779,209 |
10,616,850 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,217,839 |
828,043 |
168,812 |
1,423,271 |
(2,033,659) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
2,217,839 |
828,043 |
168,812 |
1,423,271 |
(2,033,659) |
|
Taxation |
(197,352) |
(105,292) |
9,379 |
(17,552) |
(195,580) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,020,487 |
722,751 |
178,191 |
1,405,719 |
(2,229,239) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
1,105,433 |
382,682 |
204,491 |
(1,201,228) |
1,028,011 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
1,105,433 |
382,682 |
204,491 |
(1,201,228) |
1,028,011 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
3,125,920 |
1,105,433 |
382,682 |
204,491 |
(1,201,228) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
3,125,920 |
1,105,433 |
382,682 |
204,491 |
(1,201,228) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Hire purchase |
- |
- |
- |
11,308 |
11,693 |
|
Lease interest |
- |
2,176 |
7,082 |
- |
- |
|
Term loan / Borrowing |
456,266 |
493,429 |
374,165 |
396,793 |
173,250 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
456,266 |
495,605 |
381,247 |
408,101 |
184,943 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
619,177 |
380,080 |
337,487 |
410,511 |
613,895 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
619,177 |
380,080 |
337,487 |
410,511 |
613,895 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
EXCELPOINT SYSTEMS (PTE) LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
3,098,417 |
3,508,266 |
2,552,054 |
2,778,323 |
3,052,043 |
|
LONG TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary companies |
11,576 |
11,576 |
11,576 |
11,576 |
11,576 |
|
Deferred assets |
13,167 |
13,167 |
13,167 |
13,167 |
13,167 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
24,743 |
24,743 |
24,743 |
24,743 |
24,743 |
|
INTANGIBLE ASSETS |
|||||
|
Deferred/Expenditure carried forward |
- |
- |
- |
105,788 |
105,788 |
|
Others |
105,788 |
105,788 |
105,788 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
105,788 |
105,788 |
105,788 |
105,788 |
105,788 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
3,228,948 |
3,638,797 |
2,682,585 |
2,908,854 |
3,182,574 |
|
Stocks |
23,358,960 |
20,920,905 |
24,551,283 |
24,001,843 |
11,315,341 |
|
Trade debtors |
38,766,553 |
31,360,884 |
27,735,911 |
29,728,799 |
23,099,191 |
|
Other debtors, deposits & prepayments |
288,176 |
451,473 |
356,829 |
331,274 |
369,682 |
|
Amount due from holding company |
- |
20,543 |
- |
12,612 |
- |
|
Amount due from subsidiary companies |
326,437 |
220,603 |
333,051 |
331,590 |
429,350 |
|
Amount due from related companies |
3,035,469 |
635,348 |
423,616 |
529,956 |
1,442,667 |
|
Cash & bank balances |
3,444,787 |
5,526,417 |
2,969,067 |
3,305,644 |
4,617,216 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
69,220,382 |
59,136,173 |
56,369,757 |
58,241,718 |
41,273,447 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
72,449,330 |
62,774,970 |
59,052,342 |
61,150,572 |
44,456,021 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
19,842,002 |
14,783,147 |
23,481,042 |
22,948,225 |
19,407,080 |
|
Other creditors & accruals |
6,007,119 |
5,162,296 |
4,748,247 |
2,711,660 |
1,250,247 |
|
Hire purchase & lease creditors |
- |
- |
- |
22,045 |
72,020 |
|
Bill & acceptances payable |
31,719,752 |
27,796,767 |
16,520,358 |
21,463,972 |
8,892,415 |
|
Amounts owing to holding company |
4,300,249 |
7,000,000 |
7,816,832 |
6,942,995 |
10,329,750 |
|
Amounts owing to subsidiary companies |
347,104 |
67,412 |
60,931 |
162,210 |
573,581 |
|
Amounts owing to related companies |
3,634,854 |
3,307,274 |
2,582,609 |
3,257,058 |
1,671,674 |
|
Provision for taxation |
241,501 |
321,812 |
228,812 |
207,087 |
209,468 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
66,092,581 |
58,438,708 |
55,438,831 |
57,715,252 |
42,406,235 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
3,127,801 |
697,465 |
930,926 |
526,466 |
(1,132,788) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
6,356,749 |
4,336,262 |
3,613,511 |
3,435,320 |
2,049,786 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
3,230,829 |
3,230,829 |
3,230,829 |
3,230,829 |
3,230,829 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
3,230,829 |
3,230,829 |
3,230,829 |
3,230,829 |
3,230,829 |
|
Retained profit/(loss) carried forward |
3,125,920 |
1,105,433 |
382,682 |
204,491 |
(1,201,228) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
3,125,920 |
1,105,433 |
382,682 |
204,491 |
(1,201,228) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
6,356,749 |
4,336,262 |
3,613,511 |
3,435,320 |
2,029,601 |
|
Hire purchase creditors |
- |
- |
- |
- |
20,185 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
- |
- |
- |
- |
20,185 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
6,356,749 |
4,336,262 |
3,613,511 |
3,435,320 |
2,049,786 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
EXCELPOINT SYSTEMS (PTE) LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
3,444,787 |
5,526,417 |
2,969,067 |
3,305,644 |
4,617,216 |
|
Net Liquid Funds |
(28,274,965) |
(22,270,350) |
(13,551,291) |
(18,158,328) |
(4,275,199) |
|
Net Liquid Assets |
(20,231,159) |
(20,223,440) |
(23,620,357) |
(23,475,377) |
(12,448,129) |
|
Net Current Assets/(Liabilities) |
3,127,801 |
697,465 |
930,926 |
526,466 |
(1,132,788) |
|
Net Tangible Assets |
6,250,961 |
4,230,474 |
3,507,723 |
3,329,532 |
1,943,998 |
|
Net Monetary Assets |
(20,231,159) |
(20,223,440) |
(23,620,357) |
(23,475,377) |
(12,468,314) |
|
PROFIT & LOSS ITEMS |
|||||
|
Earnings Before Interest & Tax (EBIT) |
2,674,105 |
1,323,648 |
550,059 |
1,831,372 |
(1,848,716) |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
3,293,282 |
1,703,728 |
887,546 |
2,241,883 |
(1,234,821) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
31,719,752 |
27,796,767 |
16,520,358 |
21,486,017 |
8,984,620 |
|
Total Liabilities |
66,092,581 |
58,438,708 |
55,438,831 |
57,715,252 |
42,426,420 |
|
Total Assets |
72,449,330 |
62,774,970 |
59,052,342 |
61,150,572 |
44,456,021 |
|
Net Assets |
6,356,749 |
4,336,262 |
3,613,511 |
3,435,320 |
2,049,786 |
|
Net Assets Backing |
6,356,749 |
4,336,262 |
3,613,511 |
3,435,320 |
2,029,601 |
|
Shareholders' Funds |
6,356,749 |
4,336,262 |
3,613,511 |
3,435,320 |
2,029,601 |
|
Total Share Capital |
3,230,829 |
3,230,829 |
3,230,829 |
3,230,829 |
3,230,829 |
|
Total Reserves |
3,125,920 |
1,105,433 |
382,682 |
204,491 |
(1,201,228) |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.05 |
0.09 |
0.05 |
0.06 |
0.11 |
|
Liquid Ratio |
0.69 |
0.65 |
0.57 |
0.59 |
0.71 |
|
Current Ratio |
1.05 |
1.01 |
1.02 |
1.01 |
0.97 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
33 |
31 |
49 |
40 |
32 |
|
Debtors Ratio |
55 |
47 |
56 |
50 |
66 |
|
Creditors Ratio |
30 |
23 |
50 |
41 |
59 |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
4.99 |
6.41 |
4.57 |
6.25 |
4.43 |
|
Liabilities Ratio |
10.40 |
13.48 |
15.34 |
16.80 |
20.90 |
|
Times Interest Earned Ratio |
5.86 |
2.67 |
1.44 |
4.49 |
(10.00) |
|
Assets Backing Ratio |
1.93 |
1.31 |
1.09 |
1.03 |
0.60 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
0.86 |
0.34 |
0.09 |
0.65 |
(1.58) |
|
Net Profit Margin |
0.79 |
0.29 |
0.10 |
0.65 |
(1.74) |
|
Return On Net Assets |
42.07 |
30.53 |
15.22 |
53.31 |
(90.19) |
|
Return On Capital Employed |
41.38 |
29.80 |
14.79 |
51.40 |
(82.99) |
|
Return On Shareholders' Funds/Equity |
31.78 |
16.67 |
4.93 |
40.92 |
(109.84) |
|
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.63.51 |
|
|
1 |
Rs.97.85 |
|
Euro |
1 |
Rs.70.50 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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.