|
Report No. : |
325461 |
|
Report Date : |
04.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
WAVE LIFE SCIENCES PTE. LTD. |
|
|
|
|
Registered Office : |
8, Cross Street, 10-00, Pwc Building, 048424 |
|
|
|
|
Country : |
Singapore
|
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
23.07.2012 |
|
|
|
|
Com. Reg. No.: |
201218209-G |
|
|
|
|
Legal Form : |
Private Limited |
|
|
|
|
Line of Business : |
Subject is principally engaged in the research & experimental
development on biotechnology, life & medical science & research and
experimental development on chemicals. |
|
|
|
|
No. of Employees : |
Not Available |
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 : |
Unknown |
|
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 |
EXECUTIVE
SUMMARY
|
|
REGISTRATION NO. |
: |
201218209-G |
|
COMPANY NAME |
: |
WAVE LIFE SCIENCES PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
23/07/2012 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
8, CROSS STREET, 10-00, PWC BUILDING, 048424, SINGAPORE. |
|
BUSINESS ADDRESS |
: |
8, CROSS STREET, 10-00, PWC BUILDING, 048424, SINGAPORE. |
|
TEL.NO. |
: |
65-68086091 |
|
FAX.NO. |
: |
N/A |
|
CONTACT PERSON |
: |
PAUL BENJAMIN BOLNO ( MANAGER ) |
|
PRINCIPAL ACTIVITY |
: |
RESEARCH & EXPERIMENTAL DEVELOPMENT ON BIOTECHNOLOGY, LIFE &
MEDICAL SCIENCE & RESEARCH AND EXPERIMENTAL DEVELOPMENT ON CHEMICALS |
|
ISSUED AND PAID UP CAPITAL |
: |
2,282,123.00 ORDINARY SHARE, OF A VALUE OF USD 21,862,030.00 |
|
SALES |
: |
N/A |
|
NET WORTH |
: |
USD (7,482,777) [2013] |
|
STAFF STRENGTH |
: |
N/A |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
N/A |
|
PAYMENT |
: |
N/A |
|
MANAGEMENT CAPABILITY |
: |
WEAK |
|
COMMERCIAL RISK |
: |
N/A |
|
CURRENCY EXPOSURE |
: |
N/A |
|
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) research &
experimental development on biotechnology, life & medical science &
research and experimental development on chemicals.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
02/06/2015 |
USD 28,474,230.00 |
The major shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
SHIN NIPPON BIOMEDICAL LABORATORIES, LTD. |
2438, MIYANOURA-MACHI, KAGOSHIMA CITY, KAGOSHIMA, 891-1394, JAPAN. |
T12UF2696 |
1,385,300.00 |
42.66 |
|
RA CAPITAL HEALTHCARE FUND, L.P. |
C/O RA CAPITAL MANAGEMENT, LLC, 20 PARK PLAZA, SUITE 1200, BOSTON, MA 02116,
UNITED STATES. |
T15UF0539 |
1,000,000.00 |
30.79 |
|
GREGORY L. VERDINE + |
500, ATLANTIC AVENUE 16P, BOSTON, MA 02210, UNITED STATES. |
422049415 |
50,000.00 |
1.54 |
|
PAUL BENJAMIN BOLNO + |
113, W CHESTNUT HILL AVE, PHILADELPHIA PA 19118, UNITED STATES. |
426636275 |
47,223.00 |
1.45 |
|
TAKESHI WADA + |
4-11-42-301, ASAHI-CHO, KASHIWASHI, CHIBA 277-0852, JAPAN. |
TH6180835 |
24,900.00 |
0.77 |
|
KAGOSHIMA SHINSANGYO SOUSEI INVESTMENT LIMITED PARTNERSHIP |
6-1-20, NANEI, KAGOSHIMA CITY, KAGOSHIMA, 891-0122, JAPAN. |
T14UF0874 |
740,000.00 |
22.79 |
|
--------------- |
------ |
|||
|
3,247,423.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
The Subject's interest in other companies (Subsidiaries/Associates) are
shown as follow :
Local No |
Country |
Company |
(%) |
As At |
|
JAPAN |
CHIRALGEN, LTD |
100.00 |
31/12/2013 |
|
|
UNITED STATES |
ONTORII, INC |
100.00 |
31/12/2013 |
|
DIRECTORS
|
DIRECTOR 1
|
Name Of Subject |
: |
KOJI MIURA |
|
Address |
: |
68, MARINE PARADE ROAD, 21-18, COTE D AZUR, 449301, SINGAPORE. |
|
IC / PP No |
: |
S2590741H |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
23/10/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
KEN TAKANASHI |
|
Address |
: |
4-16-4-701, HAMADAYAMA, SUGINAMI -KU TOKYO, 168-0065, JAPAN. |
|
IC / PP No |
: |
MS4674846 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
23/07/2012 |
DIRECTOR 3
|
Name Of Subject |
: |
MASAHARU TANAKA |
|
Address |
: |
1-4-31, KOKUBU HIROSE, KIRISHIMACITY KAGOSHIMA 899-4321, JAPAN. |
|
IC / PP No |
: |
TK5620331 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
11/08/2014 |
DIRECTOR 4
|
Name Of Subject |
: |
PETER KOLCHINSKY |
|
Address |
: |
200, BOYLSTON STREET, 9003, BOSTON, MA 02116, UNITED STATES. |
|
IC / PP No |
: |
105045532 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
16/01/2015 |
DIRECTOR 5
|
Name Of Subject |
: |
TAKESHI WADA |
|
Address |
: |
4-11-42-301, ASAHI-CHO, KASHIWASHI, CHIBA 277-0852, JAPAN. |
|
IC / PP No |
: |
TH6180835 |
|
Nationality |
: |
JAPANESE |
|
Date of Appointment |
: |
01/07/2013 |
DIRECTOR 6
|
Name Of Subject |
: |
PAUL BENJAMIN BOLNO |
|
Address |
: |
113, W CHESTNUT HILL AVE, PHILADELPHIA PA 19118, UNITED STATES. |
|
IC / PP No |
: |
426636275 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
17/04/2014 |
DIRECTOR 7
|
Name Of Subject |
: |
GREGORY L. VERDINE |
|
Address |
: |
500, ATLANTIC AVENUE 16P, BOSTON, MA 02210, UNITED STATES. |
|
IC / PP No |
: |
422049415 |
|
Nationality |
: |
AMERICAN |
|
Date of Appointment |
: |
01/07/2013 |
MANAGEMENT
|
|
1) |
Name of Subject |
: |
PAUL BENJAMIN BOLNO |
|
Position |
: |
MANAGER |
|
AUDITOR
|
|
Auditor |
: |
SCS GLOBAL PAC |
|
Auditor' Address |
: |
N/A |
COMPANY
SECRETARIES
|
|
1) |
Company Secretary |
: |
TAN PING PING |
|
IC / PP No |
: |
S7484709I |
|
|
Address |
: |
112, LENGKONG TIGA, 11-219, 410112, SINGAPORE. |
|
BANKING
|
No Banker found in our databank.
ENCUMBRANCE
(S)
|
No encumbrance was found in our databank at the time of investigation.
LITIGATION
CHECK AGAINST SUBJECT
|
* A check has been conducted in our databank againt the Subject whether the
subject has been involved in any litigation.
No legal action was found in our databank.
No winding up petition was found in our databank.
PAYMENT
RECORD
|
|
||
|
SOURCES OF RAW MATERIALS: |
||
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose any information on the
Subject's suppliers.
CLIENTELE
|
|
Local |
: |
N/A |
|
Overseas |
: |
N/A |
The staff from the registered office refused to disclose any information on the
Subject's clientele.
OPERATIONS
|
|
Services |
: |
RESEARCH & EXPERIMENTAL DEVELOPMENT ON BIOTECHNOLOGY, LIFE &
MEDICAL SCIENCE & RESEARCH AND EXPERIMENTAL DEVELOPMENT ON CHEMICALS |
|
|
Branch |
: |
NO |
Other Information:
The Subject is principally engaged in the (as a / as an) research &
experimental development on biotechnology, life & medical science & research
and experimental development on chemicals.
The staff from the registered office refused to disclose any information on 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 |
: |
65-68086091 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
8 CROSS STREET, #10-00 PWC BUILDING, SINGAPORE 04844 |
|
Current Address |
: |
8, CROSS STREET, 10-00, PWC BUILDING, 048424, SINGAPORE. |
|
Match |
: |
YES |
Other Investigations
We contacted one of the staff from the Subject's registered office and she only
provided limited information.
She refused to disclose the fax number, bankers and number of employees.
She also refused to comment anything on the Subject's nil turnover for the year
2013.
FINANCIAL
ANALYSIS
|
|
The Subject's turnover was nil during the year indicate that it was inactive.
As a result, we are unable to comment on its financial performance. |
||||||
|
Overall financial condition of the Subject : N/A |
||||||
|
|
||||||
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
|
|
|
|
|
PROFIT
AND LOSS ACCOUNT
|
|
THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE
FINANCIAL REPORTING STANDARDS. |
|
WAVE LIFE SCIENCES PTE. LTD. |
|
Financial Year End |
2013-12-31 |
2012-12-31 |
|
Months |
12 |
12 |
|
Consolidated Account |
GROUP |
Company |
|
Audited Account |
YES |
YES |
|
Unqualified Auditor's Report (Clean Opinion) |
YES |
YES |
|
Financial Type |
FULL |
FULL |
|
Currency |
USD |
USD |
|
Other Income |
154,030 |
- |
|
---------------- |
---------------- |
|
|
Total Turnover |
154,030 |
- |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
(3,854,245) |
(1,216,019) |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
(3,854,245) |
(1,216,019) |
|
Taxation |
1,115,262 |
- |
|
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
(2,738,983) |
(1,216,019) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) BROUGHT FORWARD |
||
|
As previously reported |
(6,255,806) |
- |
|
---------------- |
---------------- |
|
|
As restated |
(6,255,806) |
- |
|
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
(8,994,789) |
(1,216,019) |
|
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
(8,994,789) |
(1,216,019) |
|
============= |
============= |
|
|
INTEREST EXPENSE (as per notes to P&L) |
||
|
Others |
111,212 |
519 |
|
---------------- |
---------------- |
|
|
111,212 |
519 |
|
|
============= |
============= |
|
|
DEPRECIATION (as per notes to P&L) |
402,034 |
- |
|
AMORTIZATION |
7,037 |
- |
|
---------------- |
---------------- |
|
|
409,071 |
- |
|
|
============= |
BALANCE
SHEET
|
|
WAVE LIFE SCIENCES PTE. LTD. |
|
ASSETS EMPLOYED: |
||
|
FIXED ASSETS |
1,043,086 |
- |
|
Deferred assets |
910,100 |
- |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM INVESTMENTS/OTHER ASSETS |
910,100 |
- |
|
Patents / Copyrights |
75,000 |
- |
|
Computer software |
624 |
- |
|
Others |
- |
2,600,000 |
|
---------------- |
---------------- |
|
|
TOTAL INTANGIBLE ASSETS |
75,624 |
2,600,000 |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
2,028,810 |
2,600,000 |
|
Other debtors, deposits & prepayments |
37,691 |
4,009 |
|
Cash & bank balances |
439,030 |
87,200 |
|
Others |
94,624 |
2,199 |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
571,345 |
93,408 |
|
---------------- |
---------------- |
|
|
TOTAL ASSET |
2,600,155 |
2,693,408 |
|
============= |
============= |
|
|
Other creditors & accruals |
462,048 |
58,908 |
|
Other borrowings |
9,602,004 |
- |
|
Amounts owing to holding company |
- |
250,519 |
|
Amounts owing to subsidiary companies |
- |
2,600,000 |
|
Provision for taxation |
9,666 |
- |
|
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
10,073,718 |
2,909,427 |
|
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
(9,502,373) |
(2,816,019) |
|
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
(7,473,563) |
(216,019) |
|
============= |
============= |
|
|
SHARE CAPITAL |
||
|
Ordinary share capital |
239,800 |
1,000,000 |
|
Preference share capital |
760,200 |
- |
|
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
1,000,000 |
1,000,000 |
|
Exchange equalisation/fluctuation reserve |
512,012 |
- |
|
Retained profit/(loss) carried forward |
(8,994,789) |
(1,216,019) |
|
---------------- |
---------------- |
|
|
TOTAL RESERVES |
(8,482,777) |
(1,216,019) |
|
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
(7,482,777) |
(216,019) |
|
Retirement benefits provision |
9,214 |
- |
|
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
9,214 |
- |
|
---------------- |
---------------- |
|
|
(7,473,563) |
(216,019) |
|
|
============= |
============= |
|
|
|
|
|
FINANCIAL
RATIO
|
|
WAVE LIFE SCIENCES PTE. LTD. |
|
TYPES OF FUNDS |
||
|
Cash |
439,030 |
87,200 |
|
Net Liquid Funds |
439,030 |
87,200 |
|
Net Liquid Assets |
(9,502,373) |
(2,816,019) |
|
Net Current Assets/(Liabilities) |
(9,502,373) |
(2,816,019) |
|
Net Tangible Assets |
(7,549,187) |
(2,816,019) |
|
Net Monetary Assets |
(9,511,587) |
(2,816,019) |
|
BALANCE SHEET ITEMS |
||
|
Total Borrowings |
9,602,004 |
0 |
|
Total Liabilities |
10,082,932 |
2,909,427 |
|
Total Assets |
2,600,155 |
2,693,408 |
|
Net Assets |
(7,473,563) |
(216,019) |
|
Net Assets Backing |
(7,482,777) |
(216,019) |
|
Shareholders' Funds |
(7,482,777) |
(216,019) |
|
Total Share Capital |
1,000,000 |
1,000,000 |
|
Total Reserves |
(8,482,777) |
(1,216,019) |
|
LIQUIDITY (Times) |
||
|
Cash Ratio |
0.04 |
0.03 |
|
Liquid Ratio |
0.06 |
0.03 |
|
Current Ratio |
0.06 |
0.03 |
|
WORKING CAPITAL CONTROL (Days) |
||
|
Stock Ratio |
0 |
0 |
|
Debtors Ratio |
0 |
0 |
|
Creditors Ratio |
0 |
0 |
|
SOLVENCY RATIOS (Times) |
||
|
Gearing Ratio |
(1.28) |
0.00 |
|
Liabilities Ratio |
(1.35) |
(13.47) |
|
Times Interest Earned Ratio |
(33.66) |
(2,342.00) |
|
Assets Backing Ratio |
(7.55) |
(2.82) |
|
PERFORMANCE RATIO (%) |
||
|
Operating Profit Margin |
0.00 |
0.00 |
|
Net Profit Margin |
0.00 |
0.00 |
|
Return On Net Assets |
50.08 |
562.68 |
|
Return On Capital Employed |
50.60 |
(50.99) |
|
Return On Shareholders' Funds/Equity |
36.60 |
562.92 |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
|
NOTES TO ACCOUNTS |
||
|
Contingent Liabilities |
0 |
0 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.12 |
|
Euro |
1 |
Rs.71.28 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.