|
Report No. : |
333832 |
|
Report Date : |
29.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ELOF HANSSON SINGAPORE PTE LTD |
|
|
|
|
Registered Office : |
298, Tiong Bahru Road, 08-04, Central Plaza, 168730 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2014 |
|
|
|
|
Date of Incorporation : |
01.10.2001 |
|
|
|
|
Com. Reg. No.: |
200106461-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is engaged in wholesale of paper and paper products |
|
|
|
|
No. of Employee : |
6 [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. |
: |
200106461-E |
|
COMPANY
NAME |
: |
ELOF
HANSSON SINGAPORE PTE LTD |
|
FORMER
NAME |
: |
N/A |
|
INCORPORATION
DATE |
: |
01/10/2001 |
|
COMPANY
STATUS |
: |
EXIST |
|
LEGAL
FORM |
: |
PRIVATE
LIMITED |
|
LISTED
STATUS |
: |
NO |
|
REGISTERED
ADDRESS |
: |
298,
TIONG BAHRU ROAD, 08-04, CENTRAL PLAZA, 168730, SINGAPORE. |
|
BUSINESS
ADDRESS |
: |
298,
TIONG BAHRU ROAD, CENTRAL PLAZA, 08-04, 168730, SINGAPORE. |
|
TEL.NO. |
: |
65-62234393 |
|
FAX.NO. |
: |
65-62212917 |
|
EMAIL |
: |
SINGAPORE@ELOFHANSSON.COM |
|
WEB
SITE |
: |
WWW.ELOFHANSSON.COM |
|
CONTACT
PERSON |
: |
RAMASWAMY
SHYAM SUNDER ( DIRECTOR ) |
|
PRINCIPAL
ACTIVITY |
: |
WHOLESALE
OF PAPER AND PAPER PRODUCTS |
|
ISSUED
AND PAID UP CAPITAL |
: |
500,000.00
ORDINARY SHARE, OF A VALUE OF SGD 500,000.00 |
|
SALES |
: |
USD
78,481,902 [2014] |
|
NET
WORTH |
: |
USD
(1,612,356) [2014] |
|
STAFF
STRENGTH |
: |
6
[2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL
CONDITION |
: |
POOR |
|
PAYMENT |
: |
FAIR |
|
MANAGEMENT
CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL
RISK |
: |
MODERATE |
|
CURRENCY
EXPOSURE |
: |
MODERATE |
|
GENERAL
REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY
OUTLOOK |
: |
AVERAGE
GROWTH |
HISTORY
/ BACKGROUND
|
||
The
Subject is a private limited company and is allowed to have a minimum of one and
a maximum of forty-nine shareholders. As a private limited company, the Subject
must have at least two directors. A private limited company is a separate legal
entity from its shareholders. As a separate legal entity, the Subject is
capable of owning assets, entering into contracts, sue or be sued by other
companies. The liabilities of the shareholders are to the extent of the equity
they have taken up and the creditors cannot claim on shareholders' personal
assets even if the Subject is insolvent. The Subject is governed by the
Companies Act and the company must file its annual returns, together with its
financial statements with the Registrar of Companies.
The
Subject is principally engaged in the (as a / as an) wholesale of paper and
paper products.
The
immediate holding company of the Subject is ELOF HANSSON AB, a company
incorporated in SWEDEN.
Share
Capital History
|
Date |
Issue
& Paid Up Capital |
|
22/07/2015 |
SGD
500,000.00 |
The
major shareholder(s) of the Subject are shown as follows :
Current
Shareholder(s) :
|
Name |
Address |
IC/PP/Loc
No |
Shareholding |
(%) |
|
ELOF
HANSSON AB |
FORSTA
LANGGATAN 17 S-413 80 GOTEBORG, SWEDEN. |
T03UF0994 |
500,000.00 |
100.00 |
|
--------------- |
------ |
|||
|
500,000.00 |
100.00 |
|||
|
============ |
===== |
+
Also Director
DIRECTORS
|
DIRECTOR
1
|
Name
Of Subject |
: |
RAMASWAMY
SHYAM SUNDER |
|
Address |
: |
23,
LORONG 3, TOA PAYOH, 19-11, TREVISTA, 319582, SINGAPORE. |
|
IC
/ PP No |
: |
G5109584M |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
01/04/2012 |
DIRECTOR
2
|
Name
Of Subject |
: |
BJORN
OLOF OLAUSSON |
|
Address |
: |
NYA
ALLEN 6B, 41138 GOTEBORG, SWEDEN, 248732, SWEDEN. |
|
IC
/ PP No |
: |
86135086 |
|
Nationality |
: |
SWEDE |
|
Date
of Appointment |
: |
07/06/2013 |
DIRECTOR
3
|
Name
Of Subject |
: |
CHOWDHURY
KALYAN KUMAR |
|
Address |
: |
19A,
ST. MICHAEL'S ROAD 07-05, ST. MICHAEL'S CONDOMINIUM, 328003, SINGAPORE. |
|
IC
/ PP No |
: |
G5899849X |
|
Nationality |
: |
INDIAN |
|
Date
of Appointment |
: |
01/10/2013 |
MANAGEMENT
|
|
1) |
Name
of Subject |
: |
RAMASWAMY
SHYAM SUNDER |
|
Position |
: |
DIRECTOR |
|
AUDITOR
|
|
Auditor |
: |
HLB
ATREDE LLP |
|
Auditor'
Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company
Secretary |
: |
NG
CHEE TIONG |
|
IC
/ PP No |
: |
S1481834J |
|
|
Address |
: |
1,
WEST COAST WALK, 06-04, PARC CONDOMINIUM, THE, 127158, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
|
Charge
No |
Creation
Date |
Charge
Description |
Chargee
Name |
Total
Charge |
Status |
|
C201507529 |
07/07/2015 |
N/A |
SKANDINAVISKA
ENSKILDA BANKEN AB (PUBL) |
- |
Unsatisfied |
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES
OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The Subject refused to disclose its suppliers.
The Subject refused to provide any name of trade/service supplier and we are unable
to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL
PAYMENT HABIT |
||||||||||||||
|
Prompt
0-30 Days |
[ |
] |
Good
31-60 Days |
[ |
] |
Average
61-90 Days |
[ |
] |
||||||
|
Fair
91-120 Days |
[ |
X |
] |
Poor
>120 Days |
[ |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic
Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export
Market |
: |
WORLDWIDE |
|||
|
Credit
Term |
: |
N/A |
|||
|
Payment
Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods
Traded |
: |
PAPER
AND PAPER PRODUCTS |
|
|
Total
Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
6 |
6 |
|||||||
|
Branch |
: |
NO |
Other
Information:
The Subject is principally engaged in the (as a / as an) wholesale of paper and
paper products.
The Subject is the Regional office for sales support for pulp & paper machinery,
machinery and equipment for converting, corrugating, packing and wood handling
industries.
CURRENT
INVESTIGATION
|
Latest
fresh investigations carried out on the Subject indicated that :
|
Telephone
Number Provided By Client |
: |
N/A |
|
Current
Telephone Number |
: |
65-62234393 |
|
Match |
: |
N/A |
|
Address
Provided by Client |
: |
298,
TIONG BAWRU ROAD, #08-04 CENTRAL PLAZA SINGAPORE 168730 |
|
Current
Address |
: |
298,
TIONG BAHRU ROAD, CENTRAL PLAZA, 08-04, 168730, SINGAPORE. |
|
Match |
: |
YES |
Other
Investigations
We contacted one of the staff from the Subject and she provided some
information.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010
- 2014 |
] |
|
|
Profit/(Loss)
Before Tax |
: |
Decreased |
[ |
2010
- 2014 |
] |
|
|
Return
on Shareholder Funds |
: |
Unfavourable |
[ |
17.18% |
] |
|
|
Return
on Net Assets |
: |
Unfavourable |
[ |
14.91% |
] |
|
|
The
fluctuating turnover reflects the fierce competition among the existing and
new market players.The Subject could be more efficient in controlling its
operating costs and had managed to reduce its losses during the year.
Although the Subject's returns showed positive figures it is not reflective
of the true situation. The Subject incurred losses during the year and its
shareholders' funds have turned red. The positive returns on shareholders'
funds is the result of losses divided by negative shareholders' funds. The
Subject's management was inefficient in utilising the assets to generate
returns. |
||||||
|
Working
Capital Control |
||||||
|
Stock
Ratio |
: |
Nil |
[ |
0
Days |
] |
|
|
Debtor
Ratio |
: |
Acceptable |
[ |
63
Days |
] |
|
|
Creditors
Ratio |
: |
Unfavourable |
[ |
72
Days |
] |
|
|
As
the Subject is a service oriented company, the Subject does not need to keep
stocks. 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 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 |
[ |
0.91
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 |
: |
Unfavourable |
[ |
(6.55
Times) |
] |
|
|
Gearing
Ratio |
: |
Unfavourable |
[ |
(1.09
Times) |
] |
|
|
The
Subject incurred losses in the year. It did not generate sufficient income to
service its interest. If the situation does not improve, the Subject may
be vulnerable to default in servicing the interest. 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
Subject's turnover showed a volatile trend but its losses were lower when
compared to the previous corresponding period. This could suggest that the Subject
was more efficient in its operating cost control and was more competitive.
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's interest cover was negative, indicating that
it did not generate sufficient income to service its interest. If its result
does not show impressive improvements or succeed obtaining short term
financing or capital injection, it may not be able to service its interest
and repay the loans. 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
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE
FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL
REPORTING STANDARDS. |
|
ELOF
HANSSON SINGAPORE PTE LTD |
|
Financial
Year End |
2014-12-31 |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
|
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 |
78,481,902 |
105,675,419 |
86,813,925 |
38,415,750 |
21,426,754 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total
Turnover |
78,481,902 |
105,675,419 |
86,813,925 |
38,415,750 |
21,426,754 |
|
Costs
of Goods Sold |
(76,531,640) |
(102,171,579) |
(83,690,729) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross
Profit |
1,950,262 |
3,503,840 |
3,123,196 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
FROM OPERATIONS |
(277,033) |
(764,722) |
(364,326) |
104,039 |
340,376 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
BEFORE TAXATION |
(277,033) |
(764,722) |
(364,326) |
104,039 |
340,376 |
|
Taxation |
- |
- |
3,639 |
(3,645) |
9,875 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS)
AFTER TAXATION |
(277,033) |
(764,722) |
(360,687) |
100,394 |
350,251 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As
previously reported |
(1,691,623) |
(926,901) |
(566,214) |
(892,695) |
(1,242,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As
restated |
(1,691,623) |
(926,901) |
(566,214) |
(892,695) |
(1,242,946) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT
AVAILABLE FOR APPROPRIATIONS |
(1,968,656) |
(1,691,623) |
(926,901) |
(792,301) |
(892,695) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) CARRIED FORWARD |
(1,968,656) |
(1,691,623) |
(926,901) |
(792,301) |
(892,695) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST
EXPENSE (as per notes to P&L) |
|||||
|
Bank
overdraft |
15,437 |
31,052 |
23,975 |
- |
- |
|
Loan
from holding company |
21,240 |
28,500 |
12,150 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
36,677 |
59,552 |
36,125 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
|
DEPRECIATION
(as per notes to P&L) |
17,525 |
16,664 |
16,542 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
17,525 |
16,664 |
16,542 |
- |
- |
|
|
============= |
============= |
============= |
BALANCE
SHEET
|
|
ELOF
HANSSON SINGAPORE PTE LTD |
|
ASSETS
EMPLOYED: |
|||||
|
FIXED
ASSETS |
21,648 |
25,517 |
35,295 |
47,744 |
46,861 |
|
Others |
- |
- |
2,527 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM INVESTMENTS/OTHER ASSETS |
- |
- |
2,527 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
LONG TERM ASSETS |
21,648 |
25,517 |
37,822 |
47,744 |
46,861 |
|
Trade
debtors |
13,493,055 |
12,566,831 |
18,806,742 |
- |
- |
|
Other
debtors, deposits & prepayments |
177,069 |
184,642 |
66,321 |
- |
- |
|
Amount
due from holding company |
72,225 |
- |
- |
- |
- |
|
Amount
due from related companies |
295,892 |
741,782 |
142,343 |
- |
- |
|
Cash
& bank balances |
1,581,572 |
2,095,337 |
4,430,553 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT ASSETS |
15,619,813 |
15,588,592 |
23,445,959 |
13,130,018 |
3,328,390 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
ASSET |
15,641,461 |
15,614,109 |
23,483,781 |
13,177,762 |
3,375,251 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade
creditors |
15,172,110 |
13,364,272 |
15,667,258 |
- |
- |
|
Other
creditors & accruals |
130,806 |
251,962 |
234,354 |
- |
- |
|
Short
term borrowings/Term loans |
1,752,936 |
2,758,171 |
7,826,085 |
- |
- |
|
Deposits
from customers |
- |
24,215 |
244,819 |
- |
- |
|
Amounts
owing to holding company |
81,866 |
81,866 |
81,866 |
- |
- |
|
Amounts
owing to related companies |
116,099 |
468,946 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
CURRENT LIABILITIES |
17,253,817 |
16,949,432 |
24,054,382 |
13,387,676 |
2,782,423 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET
CURRENT ASSETS/(LIABILITIES) |
(1,634,004) |
(1,360,840) |
(608,423) |
(257,658) |
545,967 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
NET ASSETS |
(1,612,356) |
(1,335,323) |
(570,601) |
(209,914) |
592,828 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE
CAPITAL |
|||||
|
Ordinary
share capital |
356,300 |
356,300 |
356,300 |
500,000 |
500,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
SHARE CAPITAL |
356,300 |
356,300 |
356,300 |
500,000 |
500,000 |
|
Retained
profit/(loss) carried forward |
(1,968,656) |
(1,691,623) |
(926,901) |
(792,301) |
(892,695) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL
RESERVES |
(1,968,656) |
(1,691,623) |
(926,901) |
(792,301) |
(892,695) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS'
FUNDS/EQUITY |
(1,612,356) |
(1,335,323) |
(570,601) |
(292,301) |
(392,695) |
|
TOTAL
LONG TERM LIABILITIES |
- |
- |
- |
82,387 |
985,523 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
(1,612,356) |
(1,335,323) |
(570,601) |
(209,914) |
592,828 |
|
|
============= |
============= |
============= |
============= |
============= |
|
FINANCIAL
RATIO
|
|
ELOF
HANSSON SINGAPORE PTE LTD |
|||||
|
TYPES
OF FUNDS |
|||||
|
Cash |
1,581,572 |
2,095,337 |
4,430,553 |
- |
- |
|
Net
Liquid Funds |
1,581,572 |
2,095,337 |
4,430,553 |
- |
- |
|
Net
Liquid Assets |
(1,634,004) |
(1,360,840) |
(608,423) |
(257,658) |
545,967 |
|
Net
Current Assets/(Liabilities) |
(1,634,004) |
(1,360,840) |
(608,423) |
(257,658) |
545,967 |
|
Net
Tangible Assets |
(1,612,356) |
(1,335,323) |
(570,601) |
(209,914) |
592,828 |
|
Net
Monetary Assets |
(1,634,004) |
(1,360,840) |
(608,423) |
(340,045) |
(439,556) |
|
PROFIT
& LOSS ITEMS |
|||||
|
Earnings
Before Interest & Tax (EBIT) |
(240,356) |
(705,170) |
(328,201) |
- |
- |
|
Earnings
Before Interest, Taxes, Depreciation And Amortization (EBITDA) |
(222,831) |
(688,506) |
(311,659) |
- |
- |
|
BALANCE
SHEET ITEMS |
|||||
|
Total
Borrowings |
1,752,936 |
2,758,171 |
7,826,085 |
- |
- |
|
Total
Liabilities |
17,253,817 |
16,949,432 |
24,054,382 |
13,470,063 |
3,767,946 |
|
Total
Assets |
15,641,461 |
15,614,109 |
23,483,781 |
13,177,762 |
3,375,251 |
|
Net
Assets |
(1,612,356) |
(1,335,323) |
(570,601) |
(209,914) |
592,828 |
|
Net
Assets Backing |
(1,612,356) |
(1,335,323) |
(570,601) |
(292,301) |
(392,695) |
|
Shareholders'
Funds |
(1,612,356) |
(1,335,323) |
(570,601) |
(292,301) |
(392,695) |
|
Total
Share Capital |
356,300 |
356,300 |
356,300 |
500,000 |
500,000 |
|
Total
Reserves |
(1,968,656) |
(1,691,623) |
(926,901) |
(792,301) |
(892,695) |
|
LIQUIDITY
(Times) |
|||||
|
Cash
Ratio |
0.09 |
0.12 |
0.18 |
- |
- |
|
Liquid
Ratio |
0.91 |
0.92 |
0.97 |
- |
- |
|
Current
Ratio |
0.91 |
0.92 |
0.97 |
0.98 |
1.20 |
|
WORKING
CAPITAL CONTROL (Days) |
|||||
|
Stock
Ratio |
0 |
0 |
0 |
- |
- |
|
Debtors
Ratio |
63 |
43 |
79 |
- |
- |
|
Creditors
Ratio |
72 |
48 |
68 |
- |
- |
|
SOLVENCY
RATIOS (Times) |
|||||
|
Gearing
Ratio |
(1.09) |
(2.07) |
(13.72) |
- |
- |
|
Liabilities
Ratio |
(10.70) |
(12.69) |
(42.16) |
(46.08) |
(9.60) |
|
Times
Interest Earned Ratio |
(6.55) |
(11.84) |
(9.09) |
- |
- |
|
Assets
Backing Ratio |
(4.53) |
(3.75) |
(1.60) |
(0.42) |
1.19 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating
Profit Margin |
(0.35) |
(0.72) |
(0.42) |
0.27 |
1.59 |
|
Net
Profit Margin |
(0.35) |
(0.72) |
(0.42) |
0.26 |
1.63 |
|
Return
On Net Assets |
14.91 |
52.81 |
57.52 |
(49.56) |
57.42 |
|
Return
On Capital Employed |
14.91 |
52.81 |
57.52 |
(49.56) |
57.42 |
|
Return
On Shareholders' Funds/Equity |
17.18 |
57.27 |
63.21 |
(34.35) |
(89.19) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.