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MIRA INFORM REPORT

 

 

Report No. :

332400

Report Date :

22.07.2015

 

IDENTIFICATION DETAILS

 

Name :

KION SOUTH ASIA PTE. LTD.

 

 

Registered Office :

5, Loyang Way, 508720

 

 

Country :

Singapore

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

28.05.2012

 

 

Com. Reg. No.:

201213134-N

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Wholesale of industrial machinery and equipment.

 

 

No. of Employee :

15 [2015]

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

Limited with full security

 

Status :

Moderate

 

 

Payment Behaviour :

Slow

 

 

Litigation :

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.

:

201213134-N

COMPANY NAME

:

KION SOUTH ASIA PTE. LTD.

FORMER NAME

:

N/A

INCORPORATION DATE

:

28/05/2012

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

5, LOYANG WAY, 508720, SINGAPORE.

BUSINESS ADDRESS

:

5, LOYANG WAY, 508720, SINGAPORE.

TEL.NO.

:

65-66909300

FAX.NO.

:

65-66909301

WEB SITE

:

WWW.LINDE.COM

CONTACT PERSON

:

TEE SENG CHUAN ( MANAGING DIRECTOR )

PRINCIPAL ACTIVITY

:

WHOLESALE OF INDUSTRIAL MACHINERY AND EQUIPMENT

ISSUED AND PAID UP CAPITAL

:

1.00 ORDINARY SHARE, OF A VALUE OF SGD 1.00

SALES

:

EUR 39,250,859 [2013]

NET WORTH

:

EUR (8,337) [2013]

STAFF STRENGTH

:

15 [2015]

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

POOR

PAYMENT

:

POOR

MANAGEMENT CAPABILITY

:

WEAK

COMMERCIAL RISK

:

MODERATE

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

POOR

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 industrial machinery and equipment.

 

The immediate holding company of the Subject is LINDE MATERIAL HANDLING GMBH, a company incorporated in GERMANY.

 

Share Capital History

Date

Issue & Paid Up Capital

16/07/2015

SGD 1.00


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

Name

Address

IC/PP/Loc No

Shareholding

(%)

LINDE MATERIAL HANDLING GMBH

CARL-VON-LINDE-PLATZ, 63743, ASCHAFFENBURG, GERMANY.

T08UF1417

1.00

100.00

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

------

1.00

100.00

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

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

QUEK CHING PONG

Address

:

72, YUN HAI SHAN ZHUAN, HUANG CUO ROAD, XIAMEN, 361008, CHINA.

IC / PP No

:

A22648717

Nationality

:

MALAYSIAN

Date of Appointment

:

01/06/2012

 

DIRECTOR 2

 

Name Of Subject

:

JENS FRANZ WALTER SPLITTGERBER

Address

:

12F BLK B, YU CHENG BLDG, 51, DONG DU ROAD, HULI DISTRICT, XIAMEN, 361012, CHINA.

IC / PP No

:

C1T0PGKZG

Nationality

:

GERMAN

Date of Appointment

:

01/06/2012

 

DIRECTOR 3

 

Name Of Subject

:

TEE SENG CHUAN

Address

:

204, LOYANG AVENUE, 03-03, LOYANG VALLEY, 509060, SINGAPORE.

IC / PP No

:

S7589051F

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/06/2012


MANAGEMENT

 

 

 

1)

Name of Subject

:

TEE SENG CHUAN

Position

:

MANAGING DIRECTOR

 

 

 

AUDITOR

 

Auditor

:

DELOITTE & TOUCHE LLP

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

LIM BEE ENG

IC / PP No

:

S1626446F

Address

:

289, BISHAN STREET 24, 16-17, 570289, 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

:

ASIA

Credit Term

:

AS AGREED

Payment Mode

:

CHEQUES
TELEGRAPHIC TRANSFER (TT)

 

 

OPERATIONS

 

Goods Traded

:

INDUSTRIAL MACHINERY AND EQUIPMENT

 

Total Number of Employees:

YEAR

2015

2014

GROUP

N/A

N/A

COMPANY

15

15

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) wholesale of industrial machinery and equipment.

The Subject is the provider of forklifts, warehouse equipment and other industrial trucks.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

Telephone Number Provided By Client

:

6566909300

Current Telephone Number

:

65-66909300

Match

:

YES

Address Provided by Client

:

5 LOYANG WAY, SINGAPORE 508720

Current Address

:

5, LOYANG WAY, 508720, SINGAPORE.

Match

:

YES

 

Other Investigations


On 15th July 2015 we contacted a staff from the Subject and she provided some information on the Subject.

The Subject refused to disclose its bankers.

 


FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Increased

[

355.94%

]

Profit/(Loss) Before Tax

:

Decreased

[

(185.68%)

]

Return on Shareholder Funds

:

Unfavourable

[

(598.16%)

]

Return on Net Assets

:

Favourable

[

253.50%

]

The increase in turnover could be due to the Subject adopting an aggressive marketing strategy.The management had succeeded in turning the Subject into a profit making company. The profit could be due to better control of its operating costs and efficiency in utilising its resources. The Subject's unfavourable returns on shareholders' funds indicate the management's inefficiency in utilising its assets to generate returns.

Working Capital Control

Stock Ratio

:

Favourable

[

11 Days

]

Debtor Ratio

:

Unfavourable

[

113 Days

]

Creditors Ratio

:

Unfavourable

[

86 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 debtors ratio was high. The Subject should tighten its credit control and improve its collection period. 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

[

0.90 Times

]

Current Ratio

:

Unfavourable

[

0.99 Times

]

The Subject's liquid ratio was slightly low. This could indicate that the Subject's working capital was slightly deficient. The Subject will have to improve its liquidity position either by obtaining short term financing or increase its paid up capital so that it can meet all its short term obligations as and when they fall due.

Solvency

Interest Cover

:

Unfavourable

[

1.35 Times

]

Gearing Ratio

:

Unfavourable

[

(11.31 Times)

]

The Subject's interest cover was low. If its profits fall or when interest rate rises, it  may not be able to meet all its interest payment. The Subject's gearing was negative during the year as its shareholders' funds was in the red. This means the Subject is running its business using borrowed money. We consider the Subject as facing high financial risks.

Overall Assessment :

The higher turnover had helped to reduce the Subject's losses. The Subject's liquidity was at an acceptable range. If the Subject is able to obtain further short term financing, it should be able to meet all its short term obligations. If there is a fall in the Subject's profit or any increase in interest rate, the Subject may not be able to generate sufficient cash-flow to service its interest. The Subject has high financial risks. If its shareholders do not inject more capital into the company or if its business performance does not improve, its going concern may be in question.

Overall financial condition of the Subject : POOR

 

 

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2009

2010

2011

2012

2013

 

Population (Million)

4.98

5.08

5.18

5.31

5.40

Gross Domestic Products ( % )

(0.8)

14.5

4.9

1.3

3.7

Consumer Price Index

0.6

2.8

5.2

4.6

2.4

Total Imports (Million)

356,299.3

423,221.8

459,655.1

474,554.0

466,762.0

Total Exports (Million)

391,118.1

478,840.7

514,741.2

510,329.0

513,391.0

 

Unemployment Rate (%)

3.2

2.2

2.1

2.0

1.9

Tourist Arrival (Million)

9.68

11.64

13.17

14.49

15.46

Hotel Occupancy Rate (%)

75.8

85.6

86.5

86.4

86.3

Cellular Phone Subscriber (Million)

1.37

1.43

1.50

1.52

1.97

 

Registration of New Companies (No.)

26,414

29,798

32,317

31,892

37,288

Registration of New Companies (%)

4.3

12.8

8.5

(1.3)

9.8

Liquidation of Companies (No.)

22,393

15,126

19,005

17,218

17,369

Liquidation of Companies (%)

113.4

(32.5)

25.6

9.4

(5.3)

 

Registration of New Businesses (No.)

26,876

23,978

23,494

24,788

22,893

Registration of New Businesses (%)

8.15

(10.78)

2.02

5.51

1.70

Liquidation of Businesses (No.)

23,552

24,211

23,005

22,489

22,598

Liquidation of Businesses (%)

11.4

2.8

(5)

(2.2)

0.5

 

Bankruptcy Orders (No.)

2,058

1,537

1,527

1,748

1,992

Bankruptcy Orders (%)

(11.5)

(25.3)

(0.7)

14.5

14.0

Bankruptcy Discharges (No.)

3,056

2,252

1,391

1,881

2,584

Bankruptcy Discharges (%)

103.7

(26.3)

(38.2)

35.2

37.4

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

3.25

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(1.93)

(10.5)

12.10

(0.5)

-

 

Manufacturing *

71.5

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

90.4

96.4

100.0

103.5

103.5

Textiles

145.9

122.1

100.0

104.0

87.1

Wearing Apparel

211.0

123.3

100.0

92.1

77.8

Leather Products & Footwear

79.5

81.8

100.0

98.6

109.8

Wood & Wood Products

101.4

104.0

100.0

95.5

107.4

Paper & Paper Products

95.4

106.1

100.0

97.4

103.2

Printing & Media

100.9

103.5

100.0

93.0

86.1

Crude Oil Refineries

96.4

95.6

100.0

99.4

93.5

Chemical & Chemical Products

80.3

97.6

100.0

100.5

104.1

Pharmaceutical Products

49.1

75.3

100.0

109.7

107.2

Rubber & Plastic Products

101.2

112.3

100.0

96.5

92.9

Non-metallic Mineral

91.9

92.5

100.0

98.2

97.6

Basic Metals

92.6

102.2

100.0

90.6

76.5

Fabricated Metal Products

90.8

103.6

100.0

104.3

105.1

Machinery & Equipment

57.3

78.5

100.0

112.9

114.5

Electrical Machinery

86.8

124.1

100.0

99.3

108.5

Electronic Components

85.2

113.6

100.0

90.6

94.3

Transport Equipment

96.0

94.0

100.0

106.3

107.5

 

Construction

(36.9)

14.20

20.50

28.70

-

Real Estate

1.4

21.3

25.4

31.9

-

 

Services

Electricity, Gas & Water

1.70

4.00

7.00

6.30

-

Transport, Storage & Communication

3.90

12.80

7.40

5.30

-

Finance & Insurance

(16.4)

(0.4)

8.90

0.50

-

Government Services

4.50

9.70

6.90

6.00

-

Education Services

0.10

(0.9)

(1.4)

0.30

-

 

* Based on Index of Industrial Production (2011 = 100)

 

 

INDUSTRY ANALYSIS

 

INDUSTRY :

TRADING

The wholesale and retail trade sectors have expanded by 2.0% in the third quarter of 2014, extending the 1.8 per cent growth in the previous quarter. In 2013, the wholesale and retail sector expanded by 5.0%, after declining by 1.4% the year before. Growth of the sector was driven by the wholesale trade segment.

The domestic wholesale trade index has increased by 3.2% in the fourth quarter of 2013, moderating from the 6.6% growth in the previous quarter. The slower growth was due to a decline in the sales of furniture and household equipment (-12%) and petroleum and petroleum products (-0.6%). For the full year, the domestic wholesale trade index grew by 5.2% reversing the 2.2% decline in 2012. On the other hand, the foreign wholesale trade index has increased by a slower pace of 5.6% in the fourth quarter, compared to the 7.7% expansion in the preceding quarter. The slowdown was due to a fall in the sales of telecommunication equipment and computer (-3.8%) and petroleum and petroleum products (-2.5%). For the full year, the growth of the foreign wholesale trade index moderated slightly to 8.6% from 9.1% in the previous year.

In the fourth quarter of 2013, retail sales volume fell by 6.2%, extending the 5.6% decline in the previous quarter. Excluding motor vehicles, retail sales volume increased by 0.4%, a slower pace of expansion as compared to the 1.6% gain in the preceding quarter. The sales volume of motor vehicles fell by 33% in the fourth quarter of 2013, extending the 32% decline in the previous quarter. Meanwhile, the sales of several discretionary items also fell in the fourth quarter of 2013. For instance, the sales of telecommunications apparatus and computers fell by 12%, while the sales of furniture and household equipment declined by 5.4%.

For the full year, retail sales volume contracted by 4.3%, a reversal from the 1.3% expansion in 2012. Excluding motor vehicle sales, the retail sales volume grew by 1.1% in 2013, slower than the 1.7% increase in 2012. Watches and jewellery recorded the largest increase (11%) in sales in 2013, followed by optical goods and book (3%) and medical goods and toiletries (3%). By contrast, the sales of telecommunications apparatus and computer (-7.3%), furniture and household equipment (-4.2%) and petrol service stations (-1.4) declined in 2013.

OVERALL INDUSTRY OUTLOOK : AVERAGE GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 

 


Incorporated in 2012, the Subject is a Private Limited company, focusing on wholesale of industrial machinery and equipment. 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. The Subject have a strong support from its shareholder. However, the Subject does not have a strong capital position. Without a strong capital, the Subject may face difficulties to expand its business compared to other large corporation.

Investigation revealed, 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 15 employees. Overall, we regard that the Subject's management capability is weak. Without capable management, the Subject is unlikely to be successful and often contribute to unacceptable levels of accountability. Weak management can affect productivity, profitability, sales growth and ultimately can result in the failure of a business.

We noted that both the turnover and profits have increased compared to the previous year. The higher profit could be due to increase in turnover and better control over its operating costs. The Subject has generated an unfavourable return on shareholders' funds indicating that the management was inefficient in utilising its funds to generate return. The Subject managed to maintain an adequate liquidity level, indicating that the Subject has the ability to meet its financial obligations. The Subject has generated an unfavourable gearing ratio indicated that the Subject is in high financial risk. The Subject's unfavourable financial performance over the years has wiped out its shareholders' funds to a deficit of EUR -8,337. Therefore, the Subject as a going concern is much dependent on its ability to generate sufficient cash flow and obtain additional financing to meet its future obligations.

Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth . 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.

Based on the above unfavourable condition, we regard granting credit to the Subject to be quite risky. Hence, credit is not recommended.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

 

Financial Year End

2013-12-31

2012-12-31

Months

12

7

Consolidated Account

Company

Company

Audited Account

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

Financial Type

FULL

FULL

Currency

EUR

EUR

TURNOVER

39,250,859

8,608,788

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

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

Total Turnover

39,250,859

8,608,788

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

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

PROFIT/(LOSS) FROM OPERATIONS

49,869

(58,206)

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

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

PROFIT/(LOSS) BEFORE TAXATION

49,869

(58,206)

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

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

PROFIT/(LOSS) AFTER TAXATION

49,869

(58,206)

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

(58,206)

-

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

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

As restated

(58,206)

-

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

(8,337)

(58,206)

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

(8,337)

(58,206)

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

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

INTEREST EXPENSE (as per notes to P&L)

Loan from holding company

140,951

7,766

Others

2,102

564

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

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

143,053

8,330

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

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

DEPRECIATION (as per notes to P&L)

45,518

10,878

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

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

45,518

10,878

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

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

 

 

 

BALANCE SHEET

 

 

 

ASSETS EMPLOYED:

FIXED ASSETS

263,757

262,543

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

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

TOTAL LONG TERM ASSETS

263,757

262,543

Stocks

1,224,378

1,241,441

Trade debtors

12,157,705

6,136,543

Other debtors, deposits & prepayments

14,359

318,283

Cash & bank balances

651,477

423,750

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

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

TOTAL CURRENT ASSETS

14,047,919

8,120,017

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

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

TOTAL ASSET

14,311,676

8,382,560

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

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

CURRENT LIABILITIES

Trade creditors

9,235,533

6,729,035

Other creditors & accruals

1,133,883

255,874

Hire purchase & lease creditors

9,859

10,429

Amounts owing to holding company

3,856,298

1,350,000

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

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

TOTAL CURRENT LIABILITIES

14,235,573

8,345,338

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

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

NET CURRENT ASSETS/(LIABILITIES)

(187,654)

(225,321)

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

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

TOTAL NET ASSETS

76,103

37,222

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

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

Retained profit/(loss) carried forward

(8,337)

(58,206)

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

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

TOTAL RESERVES

(8,337)

(58,206)

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

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

SHAREHOLDERS' FUNDS/EQUITY

(8,337)

(58,206)

Lease obligations

84,440

95,428

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

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

TOTAL LONG TERM LIABILITIES

84,440

95,428

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

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

76,103

37,222

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

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

 

 

 

FINANCIAL RATIO

 

 

 

TYPES OF FUNDS

Cash

651,477

423,750

Net Liquid Funds

651,477

423,750

Net Liquid Assets

(1,412,032)

(1,466,762)

Net Current Assets/(Liabilities)

(187,654)

(225,321)

Net Tangible Assets

76,103

37,222

Net Monetary Assets

(1,496,472)

(1,562,190)

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

192,922

(49,876)

Earnings Before Interest, Taxes, Depreciation And Amortization (EBITDA)

238,440

(38,998)

BALANCE SHEET ITEMS

Total Borrowings

94,299

105,857

Total Liabilities

14,320,013

8,440,766

Total Assets

14,311,676

8,382,560

Net Assets

76,103

37,222

Net Assets Backing

(8,337)

(58,206)

Shareholders' Funds

(8,337)

(58,206)

Total Share Capital

0

0

Total Reserves

(8,337)

(58,206)

LIQUIDITY (Times)

Cash Ratio

0.05

0.05

Liquid Ratio

0.90

0.82

Current Ratio

0.99

0.97

WORKING CAPITAL CONTROL (Days)

Stock Ratio

11

53

Debtors Ratio

113

260

Creditors Ratio

86

285

SOLVENCY RATIOS (Times)

Gearing Ratio

(11.31)

(1.82)

Liabilities Ratio

(1,717.65)

(145.02)

Times Interest Earned Ratio

1.35

(5.99)

Assets Backing Ratio

0

0

PERFORMANCE RATIO (%)

Operating Profit Margin

0.13

(0.68)

Net Profit Margin

0.13

(0.68)

Return On Net Assets

253.50

(134.00)

Return On Capital Employed

224.43

(104.67)

Return On Shareholders' Funds/Equity

(598.16)

100.00

Dividend Pay Out Ratio (Times)

0

0

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.65

UK Pound

1

Rs.99.13

Euro

1

Rs.68.91

 

 

INFORMATION DETAILS

 

Analysis Done by :

SAN

 

 

Report Prepared by :

ANK

 

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.