MIRA INFORM REPORT
|
Report No. : |
331951 |
|
Report Date : |
18.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
GLOBE DIAMONDS
SINGAPORE PTE. LTD. |
|
|
|
|
Registered Office : |
545, Orchard Road, 12-05 Far, East Shopping Centre, 238882 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
11.07.2012 |
|
|
|
|
Com. Reg. No.: |
201217160-N |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Diamonds, Jewelleries. |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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. |
: |
201217160-N |
||||
|
COMPANY
NAME |
: |
GLOBE
DIAMONDS SINGAPORE PTE. LTD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
11/07/2012 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
545,
ORCHARD ROAD, 12-05 FAR, EAST SHOPPING CENTRE, 238882, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
NO.
3 KAKI BUKIT PLACE, EUNOS TECH PARK, 416181, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-66719300 |
||||
|
FAX.NO. |
: |
65-67468323 |
||||
|
CONTACT
PERSON |
: |
MEHTA
VIMESH PIYUSH ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
TRADING
OF DIAMONDS, JEWELLERIES |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
5,000,000.00
ORDINARY SHARE, OF A VALUE OF SGD 5,000,000.00 |
||||
|
SALES |
: |
USD
33,634,607 [2014] |
||||
|
NET
WORTH |
: |
USD
2,104,448 [2014] |
||||
|
STAFF
STRENGTH |
: |
N/A |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
STABLE |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
N/A |
||||
|
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) trading of diamonds,
jewelleries.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
13/07/2015 |
SGD
5,000,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
MR.
MEHTA VIMESH PIYUSH + |
9,
TANJONG RHU ROAD, 21-03, WATERSIDE, THE, 436894, SINGAPORE. |
S6884838E |
2,500,000.00 |
50.00 |
|
TAKA
JEWELLERY PTE. LTD. |
3,
KAKI BUKIT PLACE, EUNOS TECHPARK, 416181, SINGAPORE. |
199708664G |
2,500,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
5,000,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
TEO
BOON LENG |
|
Address |
: |
73A,
LORONG H TELOK KURAU, 426090, SINGAPORE. |
|
IC
/ PP No |
: |
S0059581J |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
11/07/2012 |
DIRECTOR
2
|
Name
Of Subject |
: |
MR.
MEHTA VIMESH PIYUSH |
|
Address |
: |
9,
TANJONG RHU ROAD, 21-03, WATERSIDE, THE, 436894, SINGAPORE. |
|
IC
/ PP No |
: |
S6884838E |
|
Nationality |
: |
SINGAPOREAN |
|
Date
of Appointment |
: |
11/07/2012 |
MANAGEMENT
|
|
1)
|
Name
of Subject |
: |
MEHTA
VIMESH PIYUSH |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
RT
LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
YANG
CHIAH MING @ YENG CHIAH MING |
|
IC
/ PP No |
: |
S1170628B/00620 |
|
|
Address |
: |
8A,
LORONG KISMIS, UNIQUE GARDEN, 598004, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
DBS
BANK LTD |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201210455 |
13/09/2012 |
N/A |
DBS
BANK LTD. |
- |
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 |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
] |
Average
61-90 Days |
[ |
X |
] |
|||||
|
Fair
91-120 Days |
[ |
] |
Poor
>120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its clientele.
OPERATIONS
|
|
Goods
Traded |
: |
DIAMONDS,
JEWELLERIES |
|
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) trading of diamonds,
jewelleries.
The Subject sells jewelleries, stones, diamonds and others.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
6566719300 |
|
Current
Telephone Number |
: |
65-66719300 |
|
Match |
: |
YES |
|
Address
Provided by Client |
: |
NO.
3 KAKI BUKIT PLACE, EUNOS TECH PARK,416181,SINGAPORE |
|
Current
Address |
: |
NO.
3 KAKI BUKIT PLACE, EUNOS TECH PARK, 416181, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some information.
She refused to disclose the number of employees.
FINANCIAL
ANALYSIS
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
88.86% |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Increased |
[ |
81.86% |
] |
|
|
Return
on Shareholder Funds |
: |
Favourable |
[ |
61.17% |
] |
|
|
Return
on Net Assets |
: |
Favourable |
[ |
46.99% |
] |
|
|
The
increase in turnover could be due to the Subject adopting an aggressive marketing
strategy.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 |
[ |
36
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
29
Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
106
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 unfavourable
creditors' ratio could be due to the Subject taking advantage of the credit
granted by its suppliers. However this may affect the goodwill between the
Subject and its suppliers and the Subject may inadvertently have to pay more
for its future supplies. |
||||||
|
Liquidity |
||||||
|
Liquid
Ratio |
: |
Acceptable |
[ |
0.87
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.12
Times |
] |
|
|
The
Subject's liquid ratio was slightly low. This could indicate that the
Subject's working capital was slightly deficient. The Subject will have to
improve its liquidity position either by obtaining short term financing or
increase its paid up capital so that it can meet all its short term
obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Favourable |
[ |
46.18
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.74
Times |
] |
|
|
The
interest cover showed that the Subject was able to service the interest. The
favourable interest cover could indicate that the Subject was making enough
profit to pay for the interest accrued. The Subject was lowly geared thus it
had a low financial risk. The Subject was mainly financed by its
shareholders' funds and internally generated funds. In times of economic
slowdown / downturn, the Subject being a lowly geared company, will be able
to compete better than those companies which are highly geared in the same
industry. |
||||||
|
Overall
Assessment : |
||||||
|
Generally,
the Subject's performance has improved with higher turnover and profit. The
Subject's liquidity was at an acceptable range. If the Subject is able to obtain
further short term financing, it should be able to meet all its short term
obligations. With the favourable interest cover, the Subject could be able to
service all the accrued interest without facing any difficulties. The Subject
as a lowly geared company, will be more secured compared to those highly
geared companies. It has the ability to meet all its long term obligations. |
||||||
|
Overall
financial condition of the Subject : STABLE |
||||||
SINGAPORE
ECONOMIC/ INDUSTRY OUTLOOK
|
Major
Economic Indicators : |
2009 |
2010 |
2011 |
2012 |
2013 |
|
|
|||||
|
Population
(Million) |
4.98 |
5.08 |
5.18 |
5.31 |
5.40 |
|
Gross
Domestic Products ( % ) |
(0.8) |
14.5 |
4.9 |
1.3 |
3.7 |
|
Consumer
Price Index |
0.6 |
2.8 |
5.2 |
4.6 |
2.4 |
|
Total
Imports (Million) |
356,299.3 |
423,221.8 |
459,655.1 |
474,554.0 |
466,762.0 |
|
Total
Exports (Million) |
391,118.1 |
478,840.7 |
514,741.2 |
510,329.0 |
513,391.0 |
|
|
|||||
|
Unemployment
Rate (%) |
3.2 |
2.2 |
2.1 |
2.0 |
1.9 |
|
Tourist
Arrival (Million) |
9.68 |
11.64 |
13.17 |
14.49 |
15.46 |
|
Hotel
Occupancy Rate (%) |
75.8 |
85.6 |
86.5 |
86.4 |
86.3 |
|
Cellular
Phone Subscriber (Million) |
1.37 |
1.43 |
1.50 |
1.52 |
1.97 |
|
|
|||||
|
Registration
of New Companies (No.) |
26,414 |
29,798 |
32,317 |
31,892 |
37,288 |
|
Registration
of New Companies (%) |
4.3 |
12.8 |
8.5 |
(1.3) |
9.8 |
|
Liquidation
of Companies (No.) |
22,393 |
15,126 |
19,005 |
17,218 |
17,369 |
|
Liquidation
of Companies (%) |
113.4 |
(32.5) |
25.6 |
9.4 |
(5.3) |
|
|
|||||
|
Registration
of New Businesses (No.) |
26,876 |
23,978 |
23,494 |
24,788 |
22,893 |
|
Registration
of New Businesses (%) |
8.15 |
(10.78) |
2.02 |
5.51 |
1.70 |
|
Liquidation
of Businesses (No.) |
23,552 |
24,211 |
23,005 |
22,489 |
22,598 |
|
Liquidation
of Businesses (%) |
11.4 |
2.8 |
(5) |
(2.2) |
0.5 |
|
|
|||||
|
Bankruptcy
Orders (No.) |
2,058 |
1,537 |
1,527 |
1,748 |
1,992 |
|
Bankruptcy
Orders (%) |
(11.5) |
(25.3) |
(0.7) |
14.5 |
14.0 |
|
Bankruptcy
Discharges (No.) |
3,056 |
2,252 |
1,391 |
1,881 |
2,584 |
|
Bankruptcy
Discharges (%) |
103.7 |
(26.3) |
(38.2) |
35.2 |
37.4 |
|
|
|||||
|
INDUSTRIES
( % of Growth ) : |
|||||
|
Agriculture |
|||||
|
Production
of Principal Crops |
3.25 |
(0.48) |
4.25 |
3.64 |
- |
|
Fish
Supply & Wholesale |
(1.93) |
(10.5) |
12.10 |
(0.5) |
- |
|
|
|||||
|
Manufacturing
* |
71.5 |
92.8 |
100.0 |
100.3 |
102.0 |
|
Food,
Beverages & Tobacco |
90.4 |
96.4 |
100.0 |
103.5 |
103.5 |
|
Textiles |
145.9 |
122.1 |
100.0 |
104.0 |
87.1 |
|
Wearing
Apparel |
211.0 |
123.3 |
100.0 |
92.1 |
77.8 |
|
Leather
Products & Footwear |
79.5 |
81.8 |
100.0 |
98.6 |
109.8 |
|
Wood
& Wood Products |
101.4 |
104.0 |
100.0 |
95.5 |
107.4 |
|
Paper
& Paper Products |
95.4 |
106.1 |
100.0 |
97.4 |
103.2 |
|
Printing
& Media |
100.9 |
103.5 |
100.0 |
93.0 |
86.1 |
|
Crude
Oil Refineries |
96.4 |
95.6 |
100.0 |
99.4 |
93.5 |
|
Chemical
& Chemical Products |
80.3 |
97.6 |
100.0 |
100.5 |
104.1 |
|
Pharmaceutical
Products |
49.1 |
75.3 |
100.0 |
109.7 |
107.2 |
|
Rubber
& Plastic Products |
101.2 |
112.3 |
100.0 |
96.5 |
92.9 |
|
Non-metallic
Mineral |
91.9 |
92.5 |
100.0 |
98.2 |
97.6 |
|
Basic
Metals |
92.6 |
102.2 |
100.0 |
90.6 |
76.5 |
|
Fabricated
Metal Products |
90.8 |
103.6 |
100.0 |
104.3 |
105.1 |
|
Machinery
& Equipment |
57.3 |
78.5 |
100.0 |
112.9 |
114.5 |
|
Electrical
Machinery |
86.8 |
124.1 |
100.0 |
99.3 |
108.5 |
|
Electronic
Components |
85.2 |
113.6 |
100.0 |
90.6 |
94.3 |
|
Transport
Equipment |
96.0 |
94.0 |
100.0 |
106.3 |
107.5 |
|
|
|||||
|
Construction |
(36.9) |
14.20 |
20.50 |
28.70 |
- |
|
Real
Estate |
1.4 |
21.3 |
25.4 |
31.9 |
- |
|
|
|||||
|
Services |
|||||
|
Electricity,
Gas & Water |
1.70 |
4.00 |
7.00 |
6.30 |
- |
|
Transport,
Storage & Communication |
3.90 |
12.80 |
7.40 |
5.30 |
- |
|
Finance
& Insurance |
(16.4) |
(0.4) |
8.90 |
0.50 |
- |
|
Government
Services |
4.50 |
9.70 |
6.90 |
6.00 |
- |
|
Education
Services |
0.10 |
(0.9) |
(1.4) |
0.30 |
- |
|
|
|||||
|
*
Based on Index of Industrial Production (2011 = 100) |
INDUSTRY
ANALYSIS
|
|
INDUSTRY
: |
TRADING |
|
The
wholesale and retail trade sectors have expanded by 2.0% in the third quarter
of 2014, extending the 1.8 per cent growth in the previous quarter. In 2013, the
wholesale and retail sector expanded by 5.0%, after declining by 1.4% the
year before. Growth of the sector was driven by the wholesale trade segment. |
|
|
The
domestic wholesale trade index has increased by 3.2% in the fourth quarter of
2013, moderating from the 6.6% growth in the previous quarter. The slower
growth was due to a decline in the sales of furniture and household equipment
(-12%) and petroleum and petroleum products (-0.6%). For the full year, the
domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in
2012. On the other hand, the foreign wholesale trade index has increased by a
slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion in
the preceding quarter. The slowdown was due to a fall in the sales of
telecommunication equipment and computer (-3.8%) and petroleum and petroleum
products (-2.5%). For the full year, the growth of the foreign wholesale
trade index moderated slightly to 8.6% from 9.1% in the previous year. |
|
|
In
the fourth quarter of 2013, retail sales volume fell by 6.2%, extending the
5.6% decline in the previous quarter. Excluding motor vehicles, retail sales
volume increased by 0.4%, a slower pace of expansion as compared to the 1.6%
gain in the preceding quarter. The sales volume of motor vehicles fell by 33%
in the fourth quarter of 2013, extending the 32% decline in the previous
quarter. Meanwhile, the sales of several discretionary items also fell in the
fourth quarter of 2013. For instance, the sales of telecommunications apparatus
and computers fell by 12%, while the sales of furniture and household
equipment declined by 5.4%. |
|
|
For
the full year, retail sales volume contracted by 4.3%, a reversal from the 1.3%
expansion in 2012. Excluding motor vehicle sales, the retail sales volume
grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and
jewellery recorded the largest increase (11%) in sales in 2013, followed by
optical goods and book (3%) and medical goods and toiletries (3%). By
contrast, the sales of telecommunications apparatus and computer (-7.3%),
furniture and household equipment (-4.2%) and petrol service stations (-1.4)
declined in 2013. |
|
|
OVERALL
INDUSTRY OUTLOOK : AVERAGE GROWTH |
|
CREDIT
RISK EVALUATION & RECOMMENDATION
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
GLOBE
DIAMONDS SINGAPORE PTE. LTD. |
|
Financial
Year End |
2014-03-31 |
2013-03-31 |
|
Months |
12 |
9 |
|
Consolidated
Account |
Company |
Company |
|
Audited
Account |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
TURNOVER |
33,634,607 |
17,808,954 |
|
---------------- |
---------------- |
|
|
Total
Turnover |
33,634,607 |
17,808,954 |
|
Costs
of Goods Sold |
(24,839,142) |
(16,847,696) |
|
---------------- |
---------------- |
|
|
Gross
Profit |
8,795,465 |
961,258 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
1,514,378 |
832,706 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
1,514,378 |
832,706 |
|
Taxation |
(227,072) |
(97,514) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
1,287,306 |
735,192 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As
previously reported |
735,192 |
- |
|
---------------- |
---------------- |
|
|
As
restated |
735,192 |
- |
|
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
2,022,498 |
735,192 |
|
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
2,022,498 |
735,192 |
|
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
||
|
Term
loan / Borrowing |
23,333 |
12,610 |
|
Others |
10,189 |
30 |
|
---------------- |
---------------- |
|
|
33,522 |
12,640 |
|
|
============= |
============= |
|
|
DEPRECIATION
(as per notes to P&L) |
46,964 |
6,621 |
|
---------------- |
---------------- |
|
|
46,964 |
6,621 |
|
|
============= |
============= |
BALANCE
SHEET
|
GLOBE
DIAMONDS SINGAPORE PTE. LTD. |
|
ASSETS
EMPLOYED: |
||
|
FIXED
ASSETS |
1,697,197 |
1,742,471 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
1,697,197 |
1,742,471 |
|
Stocks |
3,335,964 |
2,671,649 |
|
Trade
debtors |
2,656,137 |
5,433,063 |
|
Other
debtors, deposits & prepayments |
16,251 |
15,828 |
|
Amount
due from related companies |
8,958,358 |
7,067,783 |
|
Cash
& bank balances |
454,261 |
349,794 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
15,420,971 |
15,538,117 |
|
---------------- |
---------------- |
|
|
TOTAL
ASSET |
17,118,168 |
17,280,588 |
|
============= |
============= |
|
|
CURRENT
LIABILITIES |
||
|
Trade
creditors |
7,239,164 |
12,255,463 |
|
Other
creditors & accruals |
2,911,314 |
1,415,678 |
|
Short
term borrowings/Term loans |
377,195 |
58,032 |
|
Amounts
owing to related companies |
212,645 |
149 |
|
Amounts
owing to director |
2,855,880 |
1,369,010 |
|
Provision
for taxation |
227,847 |
97,514 |
|
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
13,824,045 |
15,195,846 |
|
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
1,596,926 |
342,271 |
|
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
3,294,123 |
2,084,742 |
|
============= |
============= |
|
|
SHARE
CAPITAL |
||
|
Ordinary
share capital |
81,950 |
81,950 |
|
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
81,950 |
81,950 |
|
Retained
profit/(loss) carried forward |
2,022,498 |
735,192 |
|
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
2,022,498 |
735,192 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
2,104,448 |
817,142 |
|
Long
term loans |
1,189,675 |
1,267,600 |
|
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
1,189,675 |
1,267,600 |
|
---------------- |
---------------- |
|
|
3,294,123 |
2,084,742 |
|
|
============= |
============= |
|
FINANCIAL
RATIO
|
GLOBE
DIAMONDS SINGAPORE PTE. LTD. |
|
TYPES
OF FUNDS |
||
|
Cash |
454,261 |
349,794 |
|
Net
Liquid Funds |
454,261 |
349,794 |
|
Net
Liquid Assets |
(1,739,038) |
(2,329,378) |
|
Net
Current Assets/(Liabilities) |
1,596,926 |
342,271 |
|
Net
Tangible Assets |
3,294,123 |
2,084,742 |
|
Net
Monetary Assets |
(2,928,713) |
(3,596,978) |
|
PROFIT
& LOSS ITEMS |
||
|
Earnings
Before Interest & Tax (EBIT) |
1,547,900 |
845,346 |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
1,594,864 |
851,967 |
|
BALANCE
SHEET ITEMS |
||
|
Total
Borrowings |
1,566,870 |
1,325,632 |
|
Total
Liabilities |
15,013,720 |
16,463,446 |
|
Total
Assets |
17,118,168 |
17,280,588 |
|
Net
Assets |
3,294,123 |
2,084,742 |
|
Net
Assets Backing |
2,104,448 |
817,142 |
|
Shareholders'
Funds |
2,104,448 |
817,142 |
|
Total
Share Capital |
81,950 |
81,950 |
|
Total
Reserves |
2,022,498 |
735,192 |
|
LIQUIDITY
(Times) |
||
|
Cash
Ratio |
0.03 |
0.02 |
|
Liquid
Ratio |
0.87 |
0.85 |
|
Current
Ratio |
1.12 |
1.02 |
|
WORKING
CAPITAL CONTROL (Days) |
||
|
Stock
Ratio |
36 |
55 |
|
Debtors
Ratio |
29 |
111 |
|
Creditors
Ratio |
106 |
266 |
|
SOLVENCY
RATIOS (Times) |
||
|
Gearing
Ratio |
0.74 |
1.62 |
|
Liabilities
Ratio |
7.13 |
20.15 |
|
Times
Interest Earned Ratio |
46.18 |
66.88 |
|
Assets
Backing Ratio |
40.20 |
25.44 |
|
PERFORMANCE
RATIO (%) |
||
|
Operating
Profit Margin |
4.50 |
4.68 |
|
Net
Profit Margin |
3.83 |
4.13 |
|
Return
On Net Assets |
46.99 |
40.55 |
|
Return
On Capital Employed |
46.99 |
40.55 |
|
Return
On Shareholders' Funds/Equity |
61.17 |
89.97 |
|
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.63.49 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.69.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.