|
Report No. : |
324844 |
|
Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
UNITED TEXMAC PTE
LTD |
|
|
|
|
Registered Office : |
140, Paya Lebar Road, 05-14, AZ @ Paya Lebar, 409015 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
07.06.1996 |
|
|
|
|
Com. Reg. No.: |
199604132-E |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Trading of Knitted Products, Textiles. |
|
|
|
|
No. of Employees : |
50 [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 |
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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
in consumer electronics, information technology products, pharmaceuticals, and
on a growing financial services sector. The economy contracted 0.6% in 2009 as
a result of the global financial crisis, but rebounded 15.1% in 2010, on the
strength of renewed exports. Growth in 2014 was slower at 13.9%, largely a
result of soft demand for exports during the second European recession. Over
the longer term, the government hopes to establish a new growth path that
focuses on raising productivity. Singapore has attracted major investments in
pharmaceuticals and medical technology production and will continue efforts to
establish Singapore as Southeast Asia's financial and high-tech hub. Singapore
is a member of the 12-nation Trans-Pacific Partnership free trade agreement
negotiations and, with the nine other ASEAN members, will form the ASEAN
Economic Community in 2015.
|
Source
: CIA |
|
REGISTRATION NO. |
: |
199604132-E |
|
COMPANY NAME |
: |
UNITED TEXMAC PTE LTD |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
07/06/1996 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
140, PAYA LEBAR ROAD, 05-14, AZ @ PAYA LEBAR, 409015, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
140, PAYA LEBAR ROAD, @ PAYA LEBAR, LEVEL 5-15, 409015, SINGAPORE. |
|
TEL.NO. |
: |
65-68978123 |
|
FAX.NO. |
: |
65-68978133 |
|
WEB SITE |
: |
WWW.UNITEX.COM.SG |
|
CONTACT PERSON |
: |
NG SOCK CHEW ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
TRADING OF KNITTED PRODUCTS, TEXTILES |
|
ISSUED AND PAID UP CAPITAL |
: |
1,150,000.00 ORDINARY SHARE, OF A VALUE OF SGD 1,175,000.00 |
|
SALES |
: |
SGD 21,262,616 [2013] |
|
NET WORTH |
: |
SGD 3,548,568 [2013] |
|
STAFF STRENGTH |
: |
50 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
LIMITED |
|
PAYMENT |
: |
POOR |
|
MANAGEMENT CAPABILITY |
: |
AVERAGE |
|
COMMERCIAL RISK |
: |
LOW |
|
CURRENCY EXPOSURE |
: |
MODERATE |
|
GENERAL REPUTATION |
: |
SATISFACTORY |
|
INDUSTRY OUTLOOK |
: |
AVERAGE 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) trading of
knitted products, textiles.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
29/05/2015 |
SGD 1,175,000.00 |
The major shareholder(s) of the Subject are shown as follows :
|
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
PUA YEOW CHUAH + |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, SINGAPORE. |
S1638617J |
382,766.00 |
33.28 |
|
ITOCHU SYSTECH CORPORATION |
3-6-14, MINAMI-HONMACHI CHUO-KU, OSAKA 541-0054, JAPAN. |
S96UF0570 |
299,408.00 |
26.04 |
|
NG SOCK CHEW + |
49, PARK VILLAS TERRACE, 545276, SINGAPORE. |
S0076099D |
212,648.00 |
18.49 |
|
TSENG HONG KEE |
988B, JURONG WEST STREET 93, 13-641, 642988, SINGAPORE. |
S2554218E |
127,589.00 |
11.09 |
|
TEOH BOON CHEOW |
52, BUKIT BATOK STREET 31, 06-08, MADEIRA, THE, 659443, SINGAPORE. |
S2590864C |
85,059.00 |
7.40 |
|
POR KHAY TI |
66, BAYSHORE ROAD, 23-05, BAYSHORE PARK, 469985, SINGAPORE. |
S2538817H |
42,530.00 |
3.70 |
|
--------------- |
------ |
|||
|
1,150,000.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
|
Local No |
Country |
Company |
(%) |
As At |
|
200516588N |
SINGAPORE |
ECOTEX PTE. LTD. |
100.00 |
29/05/2015 |
DIRECTOR 1
|
Name Of Subject |
: |
NG SOCK CHEW |
|
Address |
: |
49, PARK VILLAS TERRACE, 545276, SINGAPORE. |
|
IC / PP No |
: |
S0076099D |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/11/1996 |
DIRECTOR 2
|
Name Of Subject |
: |
PUA YEOW CHUAH |
|
Address |
: |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, SINGAPORE. |
|
IC / PP No |
: |
S1638617J |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
08/11/1996 |
|
1) |
Name of Subject |
: |
NG SOCK CHEW |
|
Position |
: |
DIRECTOR |
|
|
2) |
Name of Subject |
: |
PUA YEOW CHUAH |
|
Position |
: |
MANAGING DIRECTOR |
|
Auditor |
: |
SAW MENG TEE & PARTNERS PAC |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
PUA YEOW CHUAH |
|
IC / PP No |
: |
S1638617J |
|
|
Address |
: |
17, JALAN CHELAGI, BUKIT LOYANG ESTATE, 509578, SINGAPORE. |
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
YES |
|
Overseas |
: |
YES |
The Subject refused to provide any name of trade/service supplier and we are
unable to conduct any trade enquiry. However, from financial historical data we
conclude that :
|
OVERALL PAYMENT HABIT |
||||||||||||||
|
Prompt 0-30 Days |
[ |
] |
Good 31-60 Days |
[ |
] |
Average 61-90 Days |
[ |
] |
||||||
|
Fair 91-120 Days |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
CLIENTELE
|
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
OPERATIONS
|
|
Goods Traded |
: |
KNITTED PRODUCTS, TEXTILES |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
2014 |
|||||||
|
|
|||||||||
|
GROUP |
N/A |
N/A |
|||||||
|
COMPANY |
50 |
50 |
|||||||
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) trading of knitted
products, textiles.
The Subject can offer Single Knit Series (UBX), Double Knit Series (UDX) and
Striper (USX) in various diameter and gauges. A world class standard
accessories and parts, superior technologies, precision central stitch system
makes Unitex a unique one.
CURRENT
INVESTIGATION
|
Latest fresh investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
6568978123 |
|
Current Telephone Number |
: |
65-68978123 |
|
Match |
: |
YES |
|
Address Provided by Client |
: |
140, PAYA LEBAR ROAD, #05-14, AZ @ PAYA LEBAR, SINGAPORE 409015 |
|
Current Address |
: |
140, PAYA LEBAR ROAD, @ PAYA LEBAR, LEVEL 5-15, 409015, SINGAPORE. |
|
Match |
: |
NO |
Other Investigations
We contacted one of the staff from the Subject and she provided some
information.
The address provided also belong to the Subject.
The Subject refused to disclose its bankers.
FINANCIAL
ANALYSIS
|
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2009 - 2013 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Decreased |
[ |
2009 - 2013 |
] |
|
|
Return on Shareholder Funds |
: |
Unfavourable |
[ |
(8.02%) |
] |
|
|
Return on Net Assets |
: |
Unfavourable |
[ |
(2.62%) |
] |
|
|
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. The Subject's unfavourable returns on shareholders' funds indicate
the management's inefficiency in utilising its assets to generate returns. |
||||||
|
Working Capital Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
95 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
100 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
160 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 |
: |
Unfavourable |
[ |
0.78 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.22 Times |
] |
|
|
A low liquid ratio means that the Subject may be facing working
capital deficiency. If the Subject cannot obtain additional financing or
injection of fresh capital, it may face difficulties in meeting its short term
obligations. |
||||||
|
Solvency |
||||||
|
Interest Cover |
: |
Unfavourable |
[ |
(0.63 Times) |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.34 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 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'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. Due to its weak liquidity position, the Subject will be faced
with problems in meeting all its short term obligations if no short term loan
is obtained or additional capital injected into the Subject. 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
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 |
||||||
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
|
|
The poor payment habit may affect the goodwill between the Subject and
its suppliers and the Subject may inadvertently have to pay more for its
future supplies. The industry shows an upward trend and this trend is very likely to
sustain in the near terms. Hence, the Subject is expected to benefit from the
favourable outlook of the industry.
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
UNITED TEXMAC PTE LTD |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
2011-12-31 |
2010-12-31 |
2009-12-31 |
|
Months |
12 |
12 |
12 |
12 |
12 |
|
Consolidated Account |
GROUP |
GROUP |
GROUP |
GROUP |
GROUP |
|
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 |
SGD |
SGD |
SGD |
SGD |
SGD |
|
TURNOVER |
21,262,616 |
14,538,298 |
19,216,174 |
23,107,402 |
16,715,621 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
21,262,616 |
14,538,298 |
19,216,174 |
23,107,402 |
16,715,621 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(270,974) |
(2,240,794) |
596,032 |
739,808 |
393,181 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(270,974) |
(2,240,794) |
596,032 |
739,808 |
393,181 |
|
Taxation |
(12,402) |
350,309 |
(133,982) |
(77,845) |
83,531 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(283,376) |
(1,890,485) |
462,050 |
661,963 |
476,712 |
|
Minority interests |
(1,365) |
(635) |
(489) |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE EXTRAORDINARY ITEMS |
(284,741) |
(1,891,120) |
461,561 |
661,963 |
476,712 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) ATTRIBUTABLE TO SHAREHOLDERS |
(284,741) |
(1,891,120) |
461,561 |
661,963 |
476,712 |
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
2,510,184 |
4,401,304 |
3,939,743 |
3,277,780 |
2,801,068 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
2,510,184 |
4,401,304 |
3,939,743 |
3,277,780 |
2,801,068 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
2,225,443 |
2,510,184 |
4,401,304 |
3,939,743 |
3,277,780 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
2,225,443 |
2,510,184 |
4,401,304 |
3,939,743 |
3,277,780 |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
|||||
|
Bank overdraft |
11,767 |
21,160 |
29,340 |
- |
- |
|
Hire purchase |
1,157 |
8,862 |
9,306 |
- |
- |
|
Term loan / Borrowing |
77,939 |
117,650 |
128,241 |
- |
- |
|
Trust receipts |
70,892 |
52,574 |
35,946 |
- |
- |
|
Others |
4,362 |
2,802 |
3,604 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
166,117 |
203,048 |
206,437 |
- |
- |
|
|
============= |
============= |
============= |
- |
- |
|
|
DEPRECIATION (as per notes to P&L) |
517,226 |
556,673 |
558,631 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
517,226 |
556,673 |
558,631 |
- |
- |
|
|
============= |
============= |
============= |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BALANCE
SHEET
|
|
UNITED TEXMAC PTE LTD |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
1,279,158 |
3,479,347 |
4,092,572 |
5,582,274 |
5,289,627 |
|
Others |
1,772 |
1,801 |
1,867 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
1,772 |
1,801 |
1,867 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
1,280,930 |
3,481,148 |
4,094,439 |
5,582,274 |
5,289,627 |
|
Stocks |
5,505,977 |
6,232,010 |
5,862,866 |
- |
- |
|
Trade debtors |
5,824,194 |
5,060,197 |
4,909,065 |
- |
- |
|
Other debtors, deposits & prepayments |
1,128,284 |
382,805 |
281,756 |
- |
- |
|
Short term deposits |
45,253 |
280,480 |
215,843 |
- |
- |
|
Cash & bank balances |
840,286 |
1,287,691 |
2,684,421 |
- |
- |
|
Amount owing by customer |
69,047 |
74,225 |
66,589 |
- |
- |
|
Others |
1,783,050 |
- |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
15,196,091 |
13,317,408 |
14,020,540 |
8,855,191 |
9,827,563 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
16,477,021 |
16,798,556 |
18,114,979 |
14,437,465 |
15,117,190 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT LIABILITIES |
|||||
|
Trade creditors |
9,322,785 |
8,862,702 |
6,651,037 |
- |
- |
|
Other creditors & accruals |
871,579 |
1,078,907 |
864,562 |
- |
- |
|
Hire purchase & lease creditors |
1,101 |
59,270 |
150,831 |
- |
- |
|
Bank overdraft |
200,666 |
238,432 |
116,759 |
- |
- |
|
Short term borrowings/Term loans |
1,003,177 |
1,237,084 |
1,634,138 |
- |
- |
|
Bill & acceptances payable |
- |
- |
71,280 |
- |
- |
|
Amounts owing to director |
698,770 |
701,823 |
731,382 |
- |
- |
|
Provision for taxation |
7,404 |
6,848 |
3,885 |
- |
- |
|
Other liabilities |
364,894 |
496,168 |
946,016 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
12,470,376 |
12,681,234 |
11,169,890 |
8,972,471 |
9,407,408 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
2,725,715 |
636,174 |
2,850,650 |
(117,280) |
420,155 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
4,006,645 |
4,117,322 |
6,945,089 |
5,464,994 |
5,709,782 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
1,175,000 |
1,175,000 |
1,175,000 |
1,175,000 |
1,175,000 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,175,000 |
1,175,000 |
1,175,000 |
1,175,000 |
1,175,000 |
|
Exchange equalisation/fluctuation reserve |
142,242 |
(8,663) |
187,479 |
- |
- |
|
Retained profit/(loss) carried forward |
2,225,443 |
2,510,184 |
4,401,304 |
3,939,743 |
3,277,780 |
|
Others |
- |
- |
- |
(568,681) |
(378,928) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
2,367,685 |
2,501,521 |
4,588,783 |
3,371,062 |
2,898,852 |
|
MINORITY INTEREST |
5,883 |
5,045 |
4,981 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
3,548,568 |
3,681,566 |
5,768,764 |
4,546,062 |
4,073,852 |
|
Long term loans |
- |
- |
285,700 |
- |
- |
|
Hire purchase creditors |
2,250 |
3,351 |
62,556 |
- |
- |
|
Deferred taxation |
455,827 |
432,405 |
828,069 |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
458,077 |
435,756 |
1,176,325 |
918,932 |
1,635,930 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
4,006,645 |
4,117,322 |
6,945,089 |
5,464,994 |
5,709,782 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL
RATIO
|
|
UNITED TEXMAC PTE LTD |
|
TYPES OF FUNDS |
|||||
|
Cash |
885,539 |
1,568,171 |
2,900,264 |
- |
- |
|
Net Liquid Funds |
684,873 |
1,329,739 |
2,712,225 |
- |
- |
|
Net Liquid Assets |
(2,780,262) |
(5,595,836) |
(3,012,216) |
(117,280) |
420,155 |
|
Net Current Assets/(Liabilities) |
2,725,715 |
636,174 |
2,850,650 |
(117,280) |
420,155 |
|
Net Tangible Assets |
4,006,645 |
4,117,322 |
6,945,089 |
5,464,994 |
5,709,782 |
|
Net Monetary Assets |
(3,238,339) |
(6,031,592) |
(4,188,541) |
(1,036,212) |
(1,215,775) |
|
BALANCE SHEET ITEMS |
|||||
|
Total Borrowings |
1,207,194 |
1,538,137 |
2,321,264 |
- |
- |
|
Total Liabilities |
12,928,453 |
13,116,990 |
12,346,215 |
9,891,403 |
11,043,338 |
|
Total Assets |
16,477,021 |
16,798,556 |
18,114,979 |
14,437,465 |
15,117,190 |
|
Net Assets |
4,006,645 |
4,117,322 |
6,945,089 |
5,464,994 |
5,709,782 |
|
Net Assets Backing |
3,548,568 |
3,681,566 |
5,768,764 |
4,546,062 |
4,073,852 |
|
Shareholders' Funds |
3,548,568 |
3,681,566 |
5,768,764 |
4,546,062 |
4,073,852 |
|
Total Share Capital |
1,175,000 |
1,175,000 |
1,175,000 |
1,175,000 |
1,175,000 |
|
Total Reserves |
2,367,685 |
2,501,521 |
4,588,783 |
3,371,062 |
2,898,852 |
|
LIQUIDITY (Times) |
|||||
|
Cash Ratio |
0.07 |
0.12 |
0.26 |
- |
- |
|
Liquid Ratio |
0.78 |
0.56 |
0.73 |
- |
- |
|
Current Ratio |
1.22 |
1.05 |
1.26 |
0.99 |
1.04 |
|
WORKING CAPITAL CONTROL (Days) |
|||||
|
Stock Ratio |
95 |
156 |
111 |
- |
- |
|
Debtors Ratio |
100 |
127 |
93 |
- |
- |
|
Creditors Ratio |
160 |
223 |
126 |
- |
- |
|
SOLVENCY RATIOS (Times) |
|||||
|
Gearing Ratio |
0.34 |
0.42 |
0.40 |
- |
- |
|
Liabilities Ratio |
3.64 |
3.56 |
2.14 |
2.18 |
2.71 |
|
Times Interest Earned Ratio |
(0.63) |
(10.04) |
3.89 |
- |
- |
|
Assets Backing Ratio |
3.41 |
3.50 |
5.91 |
4.65 |
4.86 |
|
PERFORMANCE RATIO (%) |
|||||
|
Operating Profit Margin |
(1.27) |
(15.41) |
3.10 |
3.20 |
2.35 |
|
Net Profit Margin |
(1.34) |
(13.01) |
2.40 |
2.86 |
2.85 |
|
Return On Net Assets |
(2.62) |
(49.49) |
11.55 |
13.54 |
6.89 |
|
Return On Capital Employed |
(2.49) |
(46.10) |
11.12 |
13.54 |
6.89 |
|
Return On Shareholders' Funds/Equity |
(8.02) |
(51.37) |
8.00 |
14.56 |
11.70 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
0.00 |
- |
- |
|
NOTES TO ACCOUNTS |
|||||
|
Contingent Liabilities |
0 |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.97.27 |
|
Euro |
1 |
Rs.69.63 |
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.