|
Report No. : |
333729 |
|
Report Date : |
28.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
SKP OVERSEAS PTE.
LTD. |
|
|
|
|
Registered Office : |
141, Cecil Street, 07-05, Tung Ann Association Building, 069541 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
09.04.2008 |
|
|
|
|
Com. Reg. No.: |
200806931-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Investment Holding Companies & General Wholesale Trade (Note: We tried to confirm obtain the details activity but the same is not available from any source.) |
|
|
|
|
No. of Employees : |
2 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
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 |
|
REGISTRATION
NO. |
: |
200806931-E |
||||
|
COMPANY
NAME |
: |
SKP
OVERSEAS PTE. LTD. |
||||
|
FORMER
NAME |
: |
N/A |
||||
|
INCORPORATION
DATE |
: |
09/04/2008 |
||||
|
COMPANY
STATUS |
: |
EXIST |
||||
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
||||
|
LISTED
STATUS |
: |
NO |
||||
|
REGISTERED
ADDRESS |
: |
141,
CECIL STREET, 07-05, TUNG ANN ASSOCIATION BUILDING, 069541, SINGAPORE. |
||||
|
BUSINESS
ADDRESS |
: |
10,
ANSON ROAD, 18-12, INTERNATIONAL PLAZA, SUITE 4, 079903, SINGAPORE. |
||||
|
TEL.NO. |
: |
65-62238500 |
||||
|
FAX.NO. |
: |
65-62237100 |
||||
|
CONTACT
PERSON |
: |
JAIN
PRAMOD KUMAR ( DIRECTOR ) |
||||
|
PRINCIPAL
ACTIVITY |
: |
INVESTMENT
HOLDING COMPANIES & GENERAL WHOLESALE TRADE |
||||
|
ISSUED
AND PAID UP CAPITAL |
: |
21,075,000.00
ORDINARY SHARE, OF A VALUE OF SGD 21,075,000.00 |
||||
|
SALES |
: |
USD
18,332,882 [2014] |
||||
|
NET
WORTH |
: |
USD
14,949,506 [2014] |
||||
|
STAFF
STRENGTH |
: |
2
[2015] |
||||
|
||||||
|
LITIGATION |
: |
CLEAR |
||||
|
FINANCIAL
CONDITION |
: |
LIMITED |
||||
|
PAYMENT |
: |
AVERAGE |
||||
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
||||
|
COMMERCIAL
RISK |
: |
N/A |
||||
|
CURRENCY
EXPOSURE |
: |
N/A |
||||
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
||||
|
INDUSTRY
OUTLOOK |
: |
MARGINAL
GROWTH |
||||
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) investment holding
companies & general wholesale trade.
The
ultimate holding company of the Subject is ROHIT FERRO-TECH LIMITED, a company
incorporated in INDIA.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
27/07/2015 |
SGD
21,075,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
ROHIT
FERRO-TECH LIMITED |
35,
CHITTARANJAN AVENUE, KOLKATA WEST BENGAL-700012, 5TH FLOOR, INDIA. |
T08UF1625C |
21,075,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
21,075,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
The
Subject's interest in other companies (Subsidiaries/Associates) are shown as
follow :
|
Local
No |
Country |
Company |
(%) |
As
At |
|
INDONESIA |
PT.
BARA PRIMA MANDIRI INDONESIA |
60.00 |
31/03/2014 |
|
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
MR.
JAIN PRAMOD KUMAR |
|
Address |
: |
42,
CANBERRA DRIVE, 06-06, YISHUN SAPPHIRE, 768434, SINGAPORE. |
|
IC
/ PP No |
: |
G6394893X |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
26/08/2010 |
DIRECTOR
2
|
Name
Of Subject |
: |
ANKIT
PATNI |
|
Address |
: |
15,
BURDWAN ROAD, KOLKATA, 700027, INDIA. |
|
IC
/ PP No |
: |
J6835397 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
09/04/2008 |
DIRECTOR
3
|
Name
Of Subject |
: |
ROHIT
PATNI |
|
Address |
: |
15,
BURDWAN ROAD, CALCUTTA-700027, INDIA. |
|
IC
/ PP No |
: |
J6102671 |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
09/04/2008 |
|
1)
|
Name
of Subject |
: |
JAIN
PRAMOD KUMAR |
|
Position |
: |
DIRECTOR |
AUDITOR
|
|
Auditor |
: |
S.
RENGANATHAN & CO. |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1)
|
Company
Secretary |
: |
SHIV
RAJ KAPUR |
|
IC
/ PP No |
: |
S2640515G |
|
|
Address |
: |
122,
SIMEI STREET 1, 11-436, 520122, SINGAPORE. |
|
BANKING
|
Banking relations are maintained principally with :
|
1)
|
Name |
: |
INDIAN
OVERSEAS BANK |
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C200810989 |
11/12/2008 |
N/A |
INDIAN
OVERSEAS BANK |
- |
Unsatisfied |
|
C201005743 |
07/07/2010 |
N/A |
INDIAN
OVERSEAS BANK |
- |
Unsatisfied |
|
C201116120 |
21/12/2011 |
N/A |
INDIAN
OVERSEAS BANK |
- |
Unsatisfied |
|
C201116122 |
21/12/2011 |
N/A |
INDIAN
OVERSEAS BANK |
- |
Unsatisfied |
|
C201116176 |
22/12/2011 |
N/A |
INDIAN
OVERSEAS BANK |
USD
48,250,000.00 |
Unsatisfied |
|
C201116184 |
22/12/2011 |
N/A |
INDIAN
OVERSEAS BANK |
- |
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 staff from the registered office refused to disclose the Subject's
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 staff from the registered office refused to disclose the Subject's
clientele.
OPERATIONS
|
|
Goods
Traded |
: |
GENERAL
WHOLESALE TRADE |
|
|
Services |
: |
OTHER
INVESTMENT HOLDING COMPANIES |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
2 |
4 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) investment holding
companies & general wholesale trade.
The staff from the registered office refused to disclose the Subject's
operation.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-62238500 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
10
ANSON ROAD # 18-12 SUITE 4, INTERNATIONAL PLAZA SINGAPORE 079903 |
|
Current
Address |
: |
10,
ANSON ROAD, 18-12, INTERNATIONAL PLAZA, SUITE 4, 079903, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2010
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
0.25% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
2.93% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The Subject's profit fell sharply because of the high
operating costs incurred. The unfavourable return on shareholders' funds
could indicate that the Subject was inefficient in utilising its assets to
generate returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Favourable |
[ |
49
Days |
] |
|
|
Creditors
Ratio |
: |
Favourable |
[ |
59
Days |
] |
|
|
As
the Subject is a service oriented company, the Subject does not need to keep
stocks. The favourable debtors' days could be due to the good credit control measures
implemented by the Subject. 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 |
: |
Favourable |
[ |
1.22
Times |
] |
|
|
Current
Ratio |
: |
Unfavourable |
[ |
1.22
Times |
] |
|
|
A
minimum liquid ratio of 1 should be maintained by the Subject in order to assure
its creditors of its ability to meet short term obligations and the Subject
was in a good liquidity position. Thus, we believe the Subject is able to
meet all its short term obligations as and when they fall due. |
||||||
|
Solvency |
||||||
|
Interest
Cover |
: |
Unfavourable |
[ |
1.07
Times |
] |
|
|
Gearing
Ratio |
: |
Favourable |
[ |
0.51
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
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 : |
||||||
|
The
Subject recorded lower profits as its turnover showed a erratic trend. The
Subject's management was unable to control its costs efficiently as its
profit showed a downward trend. The Subject was in good liquidity position
with its total current liabilities well covered by its total current assets.
With its current net assets, the Subject should be able to repay 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 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 : LIMITED |
||||||
|
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. |
|
SKP
OVERSEAS PTE. LTD. |
|
Financial
Year End |
2014-03-31 |
2013-03-31 |
2012-03-31 |
2011-03-31 |
2010-03-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated
Account |
Company |
Company |
Company |
Company |
Company |
|
Audited
Account |
YES |
YES |
YES |
YES |
YES |
|
Unqualified
Auditor's Report (Clean Opinion) |
YES |
YES |
YES |
YES |
YES |
|
Financial
Type |
FULL |
FULL |
FULL |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
USD |
SGD |
SGD |
|
TURNOVER |
18,332,882 |
1,839,562 |
8,014,360 |
385,794 |
- |
|
Other
Income |
430,000 |
1,000,000 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
18,762,882 |
2,839,562 |
8,014,360 |
385,794 |
- |
|
Costs
of Goods Sold |
(17,893,776) |
(1,715,187) |
(7,681,575) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
869,106 |
1,124,375 |
332,785 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
36,903 |
137,242 |
(301,598) |
(612,220) |
(448,358) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
36,903 |
137,242 |
(301,598) |
(612,220) |
(448,358) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
36,903 |
137,242 |
(301,598) |
(612,220) |
(448,358) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
(1,309,206) |
(1,446,448) |
(1,144,850) |
(14,551,001) |
(14,102,643) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(1,309,206) |
(1,446,448) |
(1,144,850) |
(14,551,001) |
(14,102,643) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(1,272,303) |
(1,309,206) |
(1,446,448) |
(15,163,221) |
(14,551,001) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(1,272,303) |
(1,309,206) |
(1,446,448) |
(15,163,221) |
(14,551,001) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Others |
496,413 |
574,362 |
380,622 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
496,413 |
574,362 |
380,622 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
|
SKP
OVERSEAS PTE. LTD. |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
- |
- |
- |
16,803,689 |
14,968,714 |
|
LONG
TERM INVESTMENTS/OTHER ASSETS |
|||||
|
Subsidiary
companies |
5,900,000 |
5,900,000 |
- |
- |
- |
|
Investments |
6,000,000 |
6,000,000 |
11,000,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
11,900,000 |
11,900,000 |
11,000,000 |
- |
- |
|
INTANGIBLE
ASSETS |
|||||
|
Deferred/Expenditure
carried forward |
3,778,300 |
2,678,300 |
2,678,300 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
INTANGIBLE ASSETS |
3,778,300 |
2,678,300 |
2,678,300 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
15,678,300 |
14,578,300 |
13,678,300 |
16,803,689 |
14,968,714 |
|
Trade
debtors |
2,486,000 |
1,161,604 |
- |
- |
- |
|
Other
debtors, deposits & prepayments |
10,454,802 |
9,382,682 |
504,129 |
- |
- |
|
Deposits
with financial institutions |
755,210 |
505,210 |
500,000 |
- |
- |
|
Amount
due from related companies |
- |
- |
9,736,802 |
- |
- |
|
Cash
& bank balances |
224,203 |
22,583 |
37,562 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
13,920,215 |
11,072,079 |
10,778,493 |
6,390,866 |
2,441,932 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
29,598,515 |
25,650,379 |
24,456,793 |
23,194,555 |
17,410,646 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
2,886,674 |
47,931 |
5,700 |
- |
- |
|
Other
creditors & accruals |
775,000 |
1,265,500 |
- |
- |
- |
|
Bank
overdraft |
3,492,720 |
1,895,551 |
1,976,252 |
- |
- |
|
Short
term borrowings/Term loans |
950,000 |
3,150,000 |
3,000,000 |
- |
- |
|
Amounts
owing to holding company |
2,263,915 |
2,528,794 |
1,855,000 |
- |
- |
|
Amounts
owing to related companies |
980,700 |
750,000 |
794,480 |
- |
- |
|
Amounts
owing to director |
50,000 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
11,399,009 |
9,637,776 |
7,631,432 |
6,526,025 |
3,926,396 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
2,521,206 |
1,434,303 |
3,147,061 |
(135,159) |
(1,484,464) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
18,199,506 |
16,012,603 |
16,825,361 |
16,668,530 |
13,484,250 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
16,221,809 |
15,121,809 |
12,921,809 |
21,075,000 |
21,075,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
16,221,809 |
15,121,809 |
12,921,809 |
21,075,000 |
21,075,000 |
|
Retained
profit/(loss) carried forward |
(1,272,303) |
(1,309,206) |
(1,446,448) |
(15,163,221) |
(14,551,001) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(1,272,303) |
(1,309,206) |
(1,446,448) |
(15,163,221) |
(14,551,001) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
14,949,506 |
13,812,603 |
11,475,361 |
5,911,779 |
6,523,999 |
|
Long
term loans |
3,250,000 |
2,200,000 |
5,350,000 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM LIABILITIES |
3,250,000 |
2,200,000 |
5,350,000 |
10,756,751 |
6,960,251 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
18,199,506 |
16,012,603 |
16,825,361 |
16,668,530 |
13,484,250 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
SKP
OVERSEAS PTE. LTD. |
|
TYPES
OF FUNDS |
|||||
|
Cash |
224,203 |
22,583 |
37,562 |
- |
- |
|
Net
Liquid Funds |
(3,268,517) |
(1,872,968) |
(1,938,690) |
- |
- |
|
Net
Liquid Assets |
2,521,206 |
1,434,303 |
3,147,061 |
(135,159) |
(1,484,464) |
|
Net
Current Assets/(Liabilities) |
2,521,206 |
1,434,303 |
3,147,061 |
(135,159) |
(1,484,464) |
|
Net
Tangible Assets |
14,421,206 |
13,334,303 |
14,147,061 |
16,668,530 |
13,484,250 |
|
Net
Monetary Assets |
(728,794) |
(765,697) |
(2,202,939) |
(10,891,910) |
(8,444,715) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
533,316 |
711,604 |
79,024 |
- |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
533,316 |
711,604 |
79,024 |
- |
- |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
7,692,720 |
7,245,551 |
10,326,252 |
- |
- |
|
Total
Liabilities |
14,649,009 |
11,837,776 |
12,981,432 |
17,282,776 |
10,886,647 |
|
Total
Assets |
29,598,515 |
25,650,379 |
24,456,793 |
23,194,555 |
17,410,646 |
|
Net
Assets |
18,199,506 |
16,012,603 |
16,825,361 |
16,668,530 |
13,484,250 |
|
Net
Assets Backing |
14,949,506 |
13,812,603 |
11,475,361 |
5,911,779 |
6,523,999 |
|
Shareholders'
Funds |
14,949,506 |
13,812,603 |
11,475,361 |
5,911,779 |
6,523,999 |
|
Total
Share Capital |
16,221,809 |
15,121,809 |
12,921,809 |
21,075,000 |
21,075,000 |
|
Total
Reserves |
(1,272,303) |
(1,309,206) |
(1,446,448) |
(15,163,221) |
(14,551,001) |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.02 |
0 |
0 |
- |
- |
|
Liquid
Ratio |
1.22 |
1.15 |
1.41 |
- |
- |
|
Current
Ratio |
1.22 |
1.15 |
1.41 |
0.98 |
0.62 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
0 |
0 |
0 |
- |
- |
|
Debtors
Ratio |
49 |
230 |
0 |
- |
- |
|
Creditors
Ratio |
59 |
10 |
0 |
- |
- |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
0.51 |
0.52 |
0.90 |
- |
- |
|
Liabilities
Ratio |
0.98 |
0.86 |
1.13 |
2.92 |
1.67 |
|
Times
Interest Earned Ratio |
1.07 |
1.24 |
0.21 |
- |
- |
|
Assets
Backing Ratio |
0.89 |
0.88 |
1.09 |
0.79 |
0.64 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
0.20 |
7.46 |
(3.76) |
(158.69) |
- |
|
Net
Profit Margin |
0.20 |
7.46 |
(3.76) |
(158.69) |
- |
|
Return
On Net Assets |
2.93 |
4.44 |
0.47 |
(3.67) |
(3.33) |
|
Return
On Capital Employed |
2.09 |
3.46 |
0.37 |
(3.67) |
(3.33) |
|
Return
On Shareholders' Funds/Equity |
0.25 |
0.99 |
(2.63) |
(10.36) |
(6.87) |
|
Dividend
Pay Out Ratio (Times) |
0 |
0 |
0 |
- |
- |
|
NOTES
TO ACCOUNTS |
|||||
|
Contingent
Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.00 |
|
|
1 |
Rs.99.43 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.