MIRA INFORM REPORT

 

 

Report No. :

332587

Report Date :

24.07.2015

 

IDENTIFICATION DETAILS

 

Name :

ENTRONS (SINGAPORE) PTE LTD

 

 

Registered Office :

3, Harbourfront Place, 11-01/04, Harbourfront Tower Two, 099254

 

 

Country :

Singapore

 

 

Financials (as on) :

30.06.2014

 

 

Date of Incorporation :

07.09.1993

 

 

Com. Reg. No.:

199305854-Z

 

 

Legal Form :

Private Limited

 

 

Line of Business :

Subject is engaged in chartering of ships, barges and boats with crew (freight)

 

 

No. of Employee :

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 :

Slow but correct

 

 

Litigation :

Clear

 

 

NOTES :

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

 

 

ECGC Country Risk Classification List – 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.

:

199305854-Z

COMPANY NAME

:

ENTRONS (SINGAPORE) PTE LTD

FORMER NAME

:

N/A

INCORPORATION DATE

:

07/09/1993

COMPANY STATUS

:

EXIST

LEGAL FORM

:

PRIVATE LIMITED

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

3, HARBOURFRONT PLACE, 11-01/04, HARBOURFRONT TOWER TWO, 099254, SINGAPORE.

BUSINESS ADDRESS

:

3, HARBOURFRONT PLACE, 11-01/04, HARBOURFRONT TOWER TWO, 099254, SINGAPORE.

TEL.NO.

:

65-65456211

FAX.NO.

:

65-65459211

CONTACT PERSON

:

DIEDERIK CHRISTIAAN DE BOER ( DIRECTOR )

PRINCIPAL ACTIVITY

:

CHARTERING OF SHIPS, BARGES AND BOATS WITH CREW (FREIGHT)

ISSUED AND PAID UP CAPITAL

:

6,202,003.00 ORDINARY SHARE, OF A VALUE OF SGD 6,202,003.00 

SALES

:

USD 20,852,363 [2014]

NET WORTH

:

USD 34,092,878 [2014]

STAFF STRENGTH

:

N/A

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

SLOW BUT CORRECT

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

N/A

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) chartering of ships, barges and boats with crew (freight).

 

Share Capital History

 

Date

Issue & Paid Up Capital

21/07/2015

SGD 6,202,003.00

 

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

 

Name

Address

IC/PP/Loc No

Shareholding

(%)

MICLYN EXPRESS OFFSHORE PTE. LTD.

3, HARBOURFRONT PLACE, 11-01/04, HARBOURFRONT TOWER TWO, 099254, SINGAPORE.

199206761W

6,202,003.00

100.00

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

------

6,202,003.00

100.00

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

=====

+ Also Director

 

 

DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

KOH THONG HEAN

Address

:

11B, MOUNT SINAI LANE, 01-10, GLENTREES, 277051, SINGAPORE.

IC / PP No

:

S2667115I

Nationality

:

SINGAPOREAN

Date of Appointment

:

01/06/2011

 

DIRECTOR 2

 

Name Of Subject

:

DIEDERIK CHRISTIAAN DE BOER

Address

:

41, BIN TONG PARK, BIN TONG PARK, 269822, SINGAPORE.

IC / PP No

:

S2592692G

Nationality

:

SINGAPOREAN

Date of Appointment

:

23/11/2007



MANAGEMENT

 

 

1)

Name of Subject

:

DIEDERIK CHRISTIAAN DE BOER

Position

:

DIRECTOR

 

 

AUDITOR

 

Auditor

:

DELOITTE & TOUCHE LLP

Auditor' Address

:

N/A

 

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

JANE ALLAN

IC / PP No

:

S8280687C

Address

:

2A, DERBYSHIRE ROAD, 15-02, PASADENA, 309470, SINGAPORE.

 

2)

Company Secretary

:

LEE SIEW MAY

IC / PP No

:

S7262393B

Address

:

6, HOUGANG STREET 32, 14-10, PARC VERA, 534039, SINGAPORE.

 

 

BANKING


No Banker found in our databank. 



ENCUMBRANCE (S)

 

Charge No

Creation Date

Charge Description

Chargee Name

Total Charge

Status

C201400328

08/01/2014

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201400350

08/01/2014

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201405924

13/06/2014

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201405925

13/06/2014

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201412838

18/11/2014

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201412839

18/11/2014

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201505532

13/05/2015

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201505534

13/05/2015

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201505537

13/05/2015

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201505669

15/05/2015

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

Unsatisfied

C201505673

15/05/2015

N/A

DB INTERNATIONAL TRUST (SINGAPORE) LIMITED

-

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

:

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

:

N/A

Overseas

:

N/A


The Subject refused to disclose its clientele.

 

 

OPERATIONS

 

Services

:

CHARTERING OF SHIPS, BARGES AND BOATS WITH CREW (FREIGHT)

 

Branch

:

NO

Other Information:


The Subject is principally engaged in the (as a / as an) chartering of ships, barges and boats with crew (freight). 

The Subject refused to disclose its operation. 


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that :

 

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-65456211

Match

:

N/A

Address Provided by Client

:

3 HARBOURFRONT PLACE 11-01/04 HARBOUR FRONT TOWER 2 SINGAPORE

Current Address

:

3, HARBOURFRONT PLACE, 11-01/04, HARBOURFRONT TOWER TWO, 099254, SINGAPORE.

Match

:

NO

 

Other Investigations


We contacted one of the staff from the Subject and he only provided limited information.

The address provided is incomplete.

The Subject refused to disclose its number of employees and bankers.

 

FINANCIAL ANALYSIS

 

Profitability

Turnover

:

Erratic

[

2010 - 2014

]

Profit/(Loss) Before Tax

:

Increased

[

2010 - 2014

]

Return on Shareholder Funds

:

Acceptable

[

17.90%

]

Return on Net Assets

:

Acceptable

[

18.70%

]

The fluctuating turnover reflects the fierce competition among the existing and new market players.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

[

81 Days

]

Debtor Ratio

:

Unfavourable

[

311 Days

]

Creditors Ratio

:

Unfavourable

[

1135 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 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

[

0.86 Times

]

Current Ratio

:

Unfavourable

[

0.91 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

:

Nil

[

0.00 Times

]

Gearing Ratio

:

Favourable

[

0.00 Times

]

The Subject's interest cover was nil as it did not pay any interest during the year. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

Overall Assessment :

Although the turnover was erratic, the Subject had maintained a steady growth in its profit. This indicate the management's efficiency in controlling its costs and profitability. 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 did not make any interest payment during the year. The Subject was dependent on its shareholders' funds to finance its business needs. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

Overall financial condition of the Subject : 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 :

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

 


Incorporated in 1993, the Subject is a Private Limited company, focusing on chartering of ships, barges and boats with crew (freight). The Subject has been in business for over two decades. It has built up a strong clientele base and satisfactory reputation will enable the Subject to further enhance its business in the near term. The Subject is expected to enjoy a stable market shares. A paid up capital of SGD 6,202,003 allows the Subject to expand its business more comfortably. With a strong backing from its shareholder, the Subject enjoys timely financial assistance should the needs arise. 

Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject. 

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. Return on shareholders' funds of the Subject was at an acceptable range which indicated that the management was efficient in utilising its funds to generate income. The Subject managed to maintain an adequate liquidity level, indicating that the Subject has the ability to meet its financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business. Given a positive net worth standing at USD 34,092,878, the Subject should be able to maintain its business in the near terms. 

Having a strong assets backing, the Subject possesses latent assets as collateral for further financial extension. Hence, it has good chance of getting loans if the needs arises. 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 has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market. 

Based on the above condition, we recommend credit be granted to the Subject normally.

 



PROFIT AND LOSS ACCOUNT

 

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

ENTRONS (SINGAPORE) PTE LTD

 

Financial Year End

2014-06-30

2013-06-30

2012-06-30

2011-06-30

2010-06-30

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

SUMMARY

SUMMARY

SUMMARY

Currency

USD

USD

SGD

SGD

SGD

TURNOVER

20,852,363

15,415,816

84,915,467

33,969,637

9,652,228

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

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

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

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

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

Total Turnover

20,852,363

15,415,816

84,915,467

33,969,637

9,652,228

Costs of Goods Sold

(13,948,234)

(8,889,792)

-

-

-

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

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

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

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

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

Gross Profit

6,904,129

6,526,024

-

-

-

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

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

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

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

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

PROFIT/(LOSS) FROM OPERATIONS

6,376,739

6,305,791

9,711,373

2,929,688

4,774,834

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

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

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

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

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

PROFIT/(LOSS) BEFORE TAXATION

6,376,739

6,305,791

9,711,373

2,929,688

4,774,834

Taxation

(274,457)

(190,099)

(663,381)

(331,757)

(273)

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

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

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

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

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

PROFIT/(LOSS) AFTER TAXATION

6,102,282

6,115,692

9,047,992

2,597,931

4,774,561

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

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

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

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

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

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

20,834,949

14,719,257

8,379,662

14,658,162

9,883,601

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

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

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

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

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

As restated

20,834,949

14,719,257

8,379,662

14,658,162

9,883,601

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

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

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

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

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

PROFIT AVAILABLE FOR APPROPRIATIONS

26,937,231

20,834,949

17,427,654

17,256,093

14,658,162

CAPITALISATION FOR BONUS ISSUES

-

-

3,508,348

(8,876,431)

-

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

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

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

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

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

RETAINED PROFIT/(LOSS) CARRIED FORWARD

26,937,231

20,834,949

20,936,002

8,379,662

14,658,162

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

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

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

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

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

INTEREST EXPENSE (as per notes to P&L)

DEPRECIATION (as per notes to P&L)

2,779,154

475,515

-

-

-

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

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

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

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

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

2,779,154

475,515

-

-

-

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

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

 

 

 

BALANCE SHEET

 

ENTRONS (SINGAPORE) PTE LTD

 

ASSETS EMPLOYED:

FIXED ASSETS

42,073,412

32,933,995

-

-

-

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

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

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

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

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

TOTAL LONG TERM ASSETS

42,073,412

32,933,995

-

-

-

Stocks

4,643,327

4,327,131

-

-

-

Trade debtors

17,787,354

3,580,116

-

-

-

Other debtors, deposits & prepayments

59,126,237

67,237,446

-

-

-

Others

-

1,571,363

-

-

-

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

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

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

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

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

TOTAL CURRENT ASSETS

81,556,918

76,716,056

80,561,714

32,231,997

24,877,271

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

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

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

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

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

TOTAL ASSET

123,630,330

109,650,051

80,561,714

32,231,997

24,877,271

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

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

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

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

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

CURRENT LIABILITIES

Trade creditors

43,370,538

42,962,374

-

-

-

Other creditors & accruals

45,722,234

38,277,640

-

-

-

Provision for taxation

444,680

419,441

-

-

-

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

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

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

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

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

TOTAL CURRENT LIABILITIES

89,537,452

81,659,455

53,423,709

17,650,332

4,017,106

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

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

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

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

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

NET CURRENT ASSETS/(LIABILITIES)

(7,980,534)

(4,943,399)

27,138,005

14,581,665

20,860,165

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

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

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

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

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

TOTAL NET ASSETS

34,092,878

27,990,596

27,138,005

14,581,665

20,860,165

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

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

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

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

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

SHARE CAPITAL

Ordinary share capital

4,503,545

4,503,545

6,202,003

6,202,003

6,202,003

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

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

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

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

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

TOTAL SHARE CAPITAL

4,503,545

4,503,545

6,202,003

6,202,003

6,202,003

Capital reserve

2,612,379

2,612,379

-

-

-

Exchange equalisation/fluctuation reserve

39,723

39,723

-

-

-

Retained profit/(loss) carried forward

26,937,231

20,834,949

20,936,002

8,379,662

14,658,162

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

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

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

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

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

TOTAL RESERVES

29,589,333

23,487,051

20,936,002

8,379,662

14,658,162

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

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

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

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

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

SHAREHOLDERS' FUNDS/EQUITY

34,092,878

27,990,596

27,138,005

14,581,665

20,860,165

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

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

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

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

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

34,092,878

27,990,596

27,138,005

14,581,665

20,860,165

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

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

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

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

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

 

 

 

 

FINANCIAL RATIO

 

ENTRONS (SINGAPORE) PTE LTD

 

TYPES OF FUNDS

Cash

0

0

-

-

-

Net Liquid Funds

0

0

-

-

-

Net Liquid Assets

(12,623,861)

(9,270,530)

27,138,005

14,581,665

20,860,165

Net Current Assets/(Liabilities)

(7,980,534)

(4,943,399)

27,138,005

14,581,665

20,860,165

Net Tangible Assets

34,092,878

27,990,596

27,138,005

14,581,665

20,860,165

Net Monetary Assets

(12,623,861)

(9,270,530)

27,138,005

14,581,665

20,860,165

PROFIT & LOSS ITEMS

Earnings Before Interest & Tax (EBIT)

6,376,739

6,305,791

-

-

-

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

9,155,893

6,781,306

-

-

-

BALANCE SHEET ITEMS

Total Borrowings

0

0

-

-

-

Total Liabilities

89,537,452

81,659,455

53,423,709

17,650,332

4,017,106

Total Assets

123,630,330

109,650,051

80,561,714

32,231,997

24,877,271

Net Assets

34,092,878

27,990,596

27,138,005

14,581,665

20,860,165

Net Assets Backing

34,092,878

27,990,596

27,138,005

14,581,665

20,860,165

Shareholders' Funds

34,092,878

27,990,596

27,138,005

14,581,665

20,860,165

Total Share Capital

4,503,545

4,503,545

6,202,003

6,202,003

6,202,003

Total Reserves

29,589,333

23,487,051

20,936,002

8,379,662

14,658,162

LIQUIDITY (Times)

Cash Ratio

0

0

-

-

-

Liquid Ratio

0.86

0.89

-

-

-

Current Ratio

0.91

0.94

1.51

1.83

6.19

WORKING CAPITAL CONTROL (Days)

Stock Ratio

81

102

-

-

-

Debtors Ratio

311

85

-

-

-

Creditors Ratio

1,135

1,764

-

-

-

SOLVENCY RATIOS (Times)

Gearing Ratio

0

0

-

-

-

Liabilities Ratio

2.63

2.92

1.97

1.21

0.19

Times Interest Earned Ratio

0

0

-

-

-

Assets Backing Ratio

7.57

6.22

4.38

2.35

3.36

PERFORMANCE RATIO (%)

Operating Profit Margin

30.58

40.90

11.44

8.62

49.47

Net Profit Margin

29.26

39.67

10.66

7.65

49.47

Return On Net Assets

18.70

22.53

35.79

20.09

22.89

Return On Capital Employed

18.70

22.53

35.79

20.09

22.89

Return On Shareholders' Funds/Equity

17.90

21.85

33.34

17.82

22.89

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.63.71

UK Pound

1

Rs.99.57

Euro

1

Rs.69.63

 

INFORMATION DETAILS

 

Analysis Done by :

SAN

 

 

Report Prepared by :

ASH

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

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

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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