MIRA INFORM REPORT
|
Report No. : |
332097 |
|
Report Date : |
20.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
IPS-LINTEC ASIA PACIFIC PTE LTD |
|
|
|
|
Formerly Known As : |
IPS TIMBER INDUSTRIES (SINGAPORE) PTE LTD |
|
|
|
|
Registered Office : |
71, Tech Park Crescent, 638072 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
30.06.2014 |
|
|
|
|
Date of Incorporation : |
15.05.1989 |
|
|
|
|
Com. Reg. No.: |
198901949-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject engaged in the asphalt batching plant and trading of asphalt
related equipment. |
|
|
|
|
No. of Employees : |
12 [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 : |
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. |
: |
198901949-G |
|
COMPANY NAME |
: |
IPS-LINTEC ASIA PACIFIC PTE LTD |
|
FORMER NAME |
: |
IPS TIMBER INDUSTRIES (SINGAPORE) PTE LTD (09/10/1996) |
|
INCORPORATION DATE |
: |
15/05/1989 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
71, TECH PARK CRESCENT, 638072, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
71 TECH PARK CRESCENT,, 638072, SINGAPORE. |
|
TEL.NO. |
: |
65-68631111 |
|
FAX.NO. |
: |
65-68633811 |
|
CONTACT PERSON |
: |
CHAN TIEN LOK ( MANAGING DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
ASPHALT BATCHING PLANT AND TRADING OF ASPHALT RELATED EQUIPMENT |
|
ISSUED AND PAID UP CAPITAL |
: |
2,000,000.00 ORDINARY SHARE, OF A VALUE OF SGD 2,000,000.00 |
|
SALES |
: |
SGD 48,919,734 [2014] |
|
NET WORTH |
: |
SGD 16,430,528 [2014] |
|
STAFF STRENGTH |
: |
12 [2015] |
|
LITIGATION |
: |
CLEAR |
|
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) asphalt
batching plant and trading of asphalt related equipment.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
14/07/2015 |
SGD 2,000,000.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
IPS GROUP PTE. LTD. |
71, TECH PARK CRESCENT, 638072, SINGAPORE. |
198601426E |
1,000,000.00 |
50.00 |
|
LINTEC GMBH & CO.KG |
ALTER POSTWEG, 28, D-21614, BUXTEHUDE, GERMANY. |
SG011756 |
1,000,000.00 |
50.00 |
|
--------------- |
------ |
|||
|
2,000,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
198904385R |
SINGAPORE |
IPS-EUROTEC ASIA PACIFIC PTE. LTD. |
85.00 |
13/07/2015 |
|
198900287W |
SINGAPORE |
LINNHOFF TECHNOLOGIES PTE. LTD. |
80.00 |
13/07/2015 |
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
CHAN TIEN LOK |
|
Address |
: |
10A, GALISTAN AVENUE, 669684, SINGAPORE. |
|
IC / PP No |
: |
S0158764A |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
27/01/1992 |
DIRECTOR 2
|
Name Of Subject |
: |
KATHARINA JOSEPHINE STRUMPELL GEB. THESENFITZ |
|
Address |
: |
ALTER POSTWEG, 28, D-21614, BUXTEHUDE, GERMANY. |
|
IC / PP No |
: |
C26YZ494F |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
26/06/2014 |
DIRECTOR 3
|
Name Of Subject |
: |
KLAUS THESENFITZ |
|
Address |
: |
ALTER POSTWEG, 28, D-21614, BUXTEHUDE, GERMANY. |
|
IC / PP No |
: |
C26YX50P9 |
|
Nationality |
: |
GERMAN |
|
Date of Appointment |
: |
25/03/2013 |
DIRECTOR 4
|
Name Of Subject |
: |
TAN SUAN YAP |
|
Address |
: |
94, THOMSON GREEN, THOMSON HILLS ESTATE, 574961, SINGAPORE. |
|
IC / PP No |
: |
S0142491B |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
23/03/1991 |
DIRECTOR 5
|
Name Of Subject |
: |
ONG CHIN HIN |
|
Address |
: |
169, JALAN JURONG KECHIL, 01-14, 598669, SINGAPORE. |
|
IC / PP No |
: |
S1628884E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
24/02/2012 |
|
Remark |
: |
ALTERNATE DIRECTOR TO CHAN TIEN LOK & TAN SUAN YAP |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
CHAN TIEN LOK |
|
Position |
: |
MANAGING DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
J. TAN & CO |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
TAN AH KIM |
|
IC / PP No |
: |
S1215501H |
|
|
Address |
: |
10A, GALISTAN AVENUE, 669684, 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 |
[ |
X |
] |
|||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
] |
|||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
ASIA |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
ASPHALT RELATED EQUIPMENT |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
12 |
||||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) asphalt batching plant
and trading of asphalt related equipment.
The Subject's capabilities include:
Plant Designing
Manufacturing & Fabrications
Installations and Commissioning
After Sales Service
Operate and Maintenance Service
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-68631111 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
N/A |
|
Current Address |
: |
71 TECH PARK CRESCENT,, 638072, SINGAPORE. |
|
Match |
: |
N/A |
Other Investigations
We contacted one of the staff from the Subject and he provided some
information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Increased |
[ |
0.06% |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
9.58% |
] |
|
|
Return on Shareholder Funds |
: |
Acceptable |
[ |
11.24% |
] |
|
|
Return on Net Assets |
: |
Acceptable |
[ |
20.70% |
] |
|
|
The higher turnover could be attributed to the favourable market
condition.The Subject's management have been efficient in controlling its
operating costs. The Subject's management had generated acceptable return for
its shareholders using its assets. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
69 Days |
] |
|
|
Debtor Ratio |
: |
Acceptable |
[ |
65 Days |
] |
|
|
Creditors Ratio |
: |
Favourable |
[ |
54 Days |
] |
|
|
The Subject could be incurring higher holding cost. As its capital was
tied up in stocks, it could face liquidity problems. 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 |
: |
Acceptable |
[ |
0.90 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.24 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 |
: |
Acceptable |
[ |
5.70 Times |
] |
|
|
Gearing Ratio |
: |
Acceptable |
[ |
0.83 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's gearing was slightly high. The Subject is
utilising the leverage concept to fund its expansion. However, the high
gearing has added financial risks to the Subject. It will be more vulnerable
in times of economy downturn. |
||||||
|
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. 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 was slightly
high and its financial risk was also high. If no plans are made to reduce its
gearing, the Subject's performance may deteriorate in the coming year. |
||||||
|
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 : |
ECONOMY |
|
The Ministry of Trade and Industry (MTI) announced that it expects the
Singapore economy to grow by around 3.0% in 2014, and by 2.0 to 4.0% in 2015.
Besides that in 2013, the economy grew by 4.1%, higher than the 1.9% growth
in 2012. This was mainly due to strong growth in the services producing
industries, particularly the finance & insurance, as well as wholesale
& retail trade sectors. |
|
|
In 2013, all sectors contributed positively to growth. Finance &
insurance was the largest contributor (1.2 percentage-points), followed by
wholesale & retail trade (0.8 percentage-points) and business services
(0.6 percentage-points). Growth in the manufacturing sector was improved by
1.7%, on the back of strong growth in the electronics and transport
engineering clusters. By contrast, growth in the construction sector
moderated to 5.9%, from 8.6% in 2012. |
|
|
Growth in the services producing industries picked up to 5.3% in 2013,
from 2.0% in 2012. This was mainly due to stronger growth in the finance
& insurance and wholesale & retail trade sectors. The finance & insurance
sector grew by 11%, up from 1.3% in the previous year. The wholesale &
retail trade sector has expanded by 5.0%, after declining by 1.4% the year
before. |
|
|
For the whole of 2013, growth in total demand was 3.1%, similar to the
pace of growth in 2012. External demand was the key contributor to total
demand growth, accounting for 2.7 percentage-points, or almost 90%, of the
increase. External demand grew at a faster pace of 3.6%, compared to the 1.4%
growth in 2012. This was supported mainly by growth in the exports of
machinery & transport equipment, miscellaneous manufactures, and
transport services. Total domestic demand rose by a modest 1.7%, following
the 8.6% increase in 2012. The slower growth in total domestic demand was
primarily due to the decline in gross fixed capital formation (GFCF). |
|
|
For the full year, total consumption expenditure grew by 4.4% in 2013,
faster than the 2.8% growth in 2012. Public consumption expenditure increased
by 11%, a strong rebound from the 1.9% decline in 2012. Private consumption
expenditure recorded gains of 2.7%, moderating from the 4.1% increase in the
preceding year. |
|
|
Furthermore, in the first three quarters of 2014, the Singapore
economy grew by 3.3% on a year-on-year basis. For the rest of the year,
growth is expected to ease slightly on a year-on-year basis, in line with a
projected slowdown in the global economy. Externally-oriented sectors such as
the manufacturing and transportation & storage sectors are likely to
slow, whereas growth in the construction sector will continue to be weighed
down by the weakness in private sector construction activities. On the other
hand, domestically-oriented sectors like business services are likely to remain
resilient. |
|
|
Additionally, the labour market in Singapore is expected to remain
tight in 2015, with low unemployment and rising vacancy rates. Against this
global and domestic backdrop, the growth outlook for the Singapore economy
remains modest. In tandem with the expected pick-up in external demand,
externally-oriented sectors such as manufacturing, wholesale trade and
finance & insurance are likely to provide support to growth. While some
domestically-oriented sectors such as businesses services are expected to
remain resilient, labour-intensive ones like construction, retail and food
services may see their growth weighed down by labour constraints. |
|
|
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. |
|
IPS-LINTEC ASIA PACIFIC PTE LTD |
|
Financial Year
End |
2014-06-30 |
2013-06-30 |
|
Months |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
SGD |
SGD |
|
TURNOVER |
48,919,734 |
48,890,135 |
|
Other Income |
580,625 |
844,204 |
|
---------------- |
---------------- |
|
|
Total Turnover |
49,500,359 |
49,734,339 |
|
Costs of Goods Sold |
(33,874,819) |
(34,674,733) |
|
---------------- |
---------------- |
|
|
Gross Profit |
15,625,540 |
15,059,606 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
2,806,892 |
2,561,466 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
2,806,892 |
2,561,466 |
|
Taxation |
(594,488) |
(539,845) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
2,212,404 |
2,021,621 |
|
Minority interests |
(366,291) |
(413,525) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
1,846,113 |
1,608,096 |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
1,846,113 |
1,608,096 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
9,404,242 |
8,176,146 |
|
---------------- |
---------------- |
|
|
As restated |
9,404,242 |
8,176,146 |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
11,250,355 |
9,784,242 |
|
DIVIDENDS - Ordinary (paid & proposed) |
(1,000,000) |
(380,000) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
10,250,355 |
9,404,242 |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Loan from holding company |
1,115 |
- |
|
Others |
596,600 |
369,609 |
|
---------------- |
---------------- |
|
|
597,715 |
369,609 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
583,708 |
433,320 |
|
AMORTIZATION |
3,928 |
- |
|
---------------- |
---------------- |
|
|
587,636 |
433,320 |
|
|
============= |
============= |
|
|
|
|
|
BALANCE
SHEET
|
|
IPS-LINTEC ASIA PACIFIC PTE LTD |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
9,722,685 |
4,448,043 |
|
50,729 |
673,494 |
|
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
50,729 |
673,494 |
|
Goodwill on consolidation |
202,980 |
202,980 |
|
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
202,980 |
202,980 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
9,976,394 |
5,324,517 |
|
Stocks |
9,227,693 |
7,799,004 |
|
Trade debtors |
8,705,151 |
4,819,529 |
|
Other debtors, deposits & prepayments |
5,266,860 |
1,580,036 |
|
Cash & bank balances |
9,999,695 |
10,500,361 |
|
Others |
- |
128 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
33,199,399 |
24,699,058 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
43,175,793 |
30,023,575 |
|
============= |
============= |
|
|
CURRENT LIABILITIES |
||
|
Trade creditors |
5,023,489 |
4,621,003 |
|
Other creditors & accruals |
7,592,313 |
3,736,161 |
|
Short term borrowings/Term loans |
13,555,777 |
5,612,254 |
|
Provision for taxation |
555,468 |
626,728 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
26,727,047 |
14,596,146 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
6,472,352 |
10,102,912 |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
16,448,746 |
15,427,429 |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
2,000,000 |
2,000,000 |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
2,000,000 |
2,000,000 |
|
Capital reserve |
338,893 |
338,893 |
|
Exchange equalisation/fluctuation reserve |
(118,823) |
104,398 |
|
Retained profit/(loss) carried forward |
10,250,355 |
9,404,242 |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
10,470,425 |
9,847,533 |
|
MINORITY INTEREST |
3,960,103 |
3,579,896 |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
16,430,528 |
15,427,429 |
|
Deferred taxation |
18,218 |
- |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
18,218 |
- |
|
---------------- |
---------------- |
|
|
16,448,746 |
15,427,429 |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
IPS-LINTEC ASIA PACIFIC PTE LTD |
|
TYPES OF FUNDS |
||
|
Cash |
9,999,695 |
10,500,361 |
|
Net Liquid Funds |
9,999,695 |
10,500,361 |
|
Net Liquid Assets |
(2,755,341) |
2,303,908 |
|
Net Current Assets/(Liabilities) |
6,472,352 |
10,102,912 |
|
Net Tangible Assets |
16,245,766 |
15,224,449 |
|
Net Monetary Assets |
(2,773,559) |
2,303,908 |
|
PROFIT & LOSS ITEMS |
||
|
Earnings Before Interest & Tax (EBIT) |
3,404,607 |
2,931,075 |
|
Earnings Before Interest, Taxes, Depreciation And Amortization
(EBITDA) |
3,992,243 |
3,364,395 |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
13,555,777 |
5,612,254 |
|
Total Liabilities |
26,745,265 |
14,596,146 |
|
Total Assets |
43,175,793 |
30,023,575 |
|
Net Assets |
16,448,746 |
15,427,429 |
|
Net Assets Backing |
16,430,528 |
15,427,429 |
|
Shareholders' Funds |
16,430,528 |
15,427,429 |
|
Total Share Capital |
2,000,000 |
2,000,000 |
|
Total Reserves |
10,470,425 |
9,847,533 |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.37 |
0.72 |
|
Liquid Ratio |
0.90 |
1.16 |
|
Current Ratio |
1.24 |
1.69 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
69 |
58 |
|
Debtors Ratio |
65 |
36 |
|
Creditors Ratio |
54 |
49 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
0.83 |
0.36 |
|
Liabilities Ratio |
1.63 |
0.95 |
|
Times Interest Earned Ratio |
5.70 |
7.93 |
|
Assets Backing Ratio |
8.12 |
7.61 |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
5.74 |
5.24 |
|
Net Profit Margin |
3.77 |
3.29 |
|
Return On Net Assets |
20.70 |
19.00 |
|
Return On Capital Employed |
16.52 |
15.26 |
|
Return On Shareholders' Funds/Equity |
11.24 |
10.42 |
|
Dividend Pay Out Ratio (Times) |
0.54 |
0.24 |
|
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 : |
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.