|
Report No. : |
326042 |
|
Report Date : |
05.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
CYTECH GLOBAL PTE. LTD. |
|
|
|
|
Registered Office : |
19, Tai Seng Avenue, 03-01, 534054 |
|
|
|
|
Country : |
Singapore |
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
15.06.2009 |
|
|
|
|
Com. Reg. No.: |
200910684-C |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
wholesaler of Electronic Components Subject deals with the followings products: · Altera · Aptina Imaging · Bittware · Cypress Semiconductor · Ecliptek · FOX Electronics · IDT · Infineon · Linear Technology · ON Semiconductor · Ortus Technology · PMC-Sierra · Semtech · Spansion · Tempo Semiconductor. |
|
|
|
|
No of Employees : |
25 [2015] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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. 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, before slowing to in 2011-13, 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.
|
Source : CIA |
|
REGISTRATION NO. |
: |
200910684-C |
|
COMPANY NAME |
: |
CYTECH GLOBAL
PTE. LTD. |
|
FORMER NAME |
: |
N/A |
|
INCORPORATION DATE |
: |
15/06/2009 |
|
COMPANY STATUS |
: |
EXIST |
|
LEGAL FORM |
: |
PRIVATE LIMITED |
|
LISTED STATUS |
: |
NO |
|
REGISTERED ADDRESS |
: |
19, TAI SENG AVENUE, 03-01, 534054,
SINGAPORE. |
|
BUSINESS ADDRESS |
: |
19 TAI SENG AVENUE, #03-01, 534054,
SINGAPORE. |
|
TEL.NO. |
: |
65-63960200 |
|
FAX.NO. |
: |
65-63963983 |
|
EMAIL |
: |
|
|
WEB SITE |
: |
|
|
CONTACT PERSON |
: |
CHAN CHI KWONG JOHNNY ( DIRECTOR ) |
|
PRINCIPAL ACTIVITY |
: |
WHOLESALE OF ELECTRONIC COMPONENTS |
|
ISSUED AND PAID UP CAPITAL |
: |
712,300.00 ORDINARY SHARE, OF A VALUE OF
SGD 712,300.00 |
|
SALES |
: |
USD 43,697,884 [2014] |
|
NET WORTH |
: |
USD 2,087,006 [2014] |
|
STAFF STRENGTH |
: |
25 [2015] |
|
LITIGATION |
: |
CLEAR |
|
FINANCIAL CONDITION |
: |
FAIR |
|
PAYMENT |
: |
No Complaints |
|
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) wholesale of electronic components.
Share Capital History
|
Date |
Issue & Paid Up Capital |
|
30/01/2015 |
SGD 712,300.00 |
The major
shareholder(s) of the Subject are shown as follows :
Name |
Address |
IC/PP/Loc No |
Shareholding |
(%) |
|
CYTECH TECHNOLOGY LIMITED |
SUITES, 4001-4003, 40/F, TWO LANDMARK EAST, 100, HOW MING STREET, KWUN TONG, KOWLOON, HONG KONG. |
T09UF1447 |
712,300.00 |
100.00 |
|
--------------- |
------ |
|||
|
712,300.00 |
100.00 |
|||
|
============ |
===== |
+ Also Director
DIRECTOR 1
|
Name Of Subject |
: |
YUJI WAKABAYASHI |
|
Address |
: |
1938-303, KITAHASSAKU MIDORI, YOKOHAMA, JAPAN. |
|
IC / PP No |
: |
TK0671478 |
|
Date of Appointment |
: |
30/04/2012 |
DIRECTOR 2
|
Name Of Subject |
: |
GUI YOCK MENG |
|
Address |
: |
15, MOUNT SINAI RISE, 05-03, 276906, SINGAPORE. |
|
IC / PP No |
: |
S1812058E |
|
Nationality |
: |
SINGAPOREAN |
|
Date of Appointment |
: |
15/06/2009 |
DIRECTOR 3
|
Name Of Subject |
: |
JOHNNY CHAN CHI KWONG |
|
Address |
: |
HOUSE, 20, PETRUS AVENUE, THE VINEYARD, 23, NGUA TAM MEI ROAD, YUEN LONG, NEW TERRITOROES, HONGKONG, HONG KONG. |
|
IC / PP No |
: |
KJ0233555 |
|
Nationality |
: |
CHINESE |
|
Date of Appointment |
: |
15/06/2009 |
|
1) |
Name of Subject |
: |
CHAN CHI KWONG JOHNNY |
|
Position |
: |
DIRECTOR |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
Auditor |
: |
ERNST & YOUNG LLP |
|
Auditor' Address |
: |
N/A |
|
1) |
Company Secretary |
: |
SUSIE LOW GEOK ENG |
|
IC / PP No |
: |
S0167313J |
|
|
Address |
: |
201, BISHAN STREET 23, 08-469, 570201, SINGAPORE. |
|
No Banker found in our databank.
No encumbrance was found in our databank at the
time of investigation.
* A check has been conducted in our databank
against 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.
|
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 |
[ |
] |
Poor >120 Days |
[ |
X |
] |
||||||||
|
Local |
: |
YES |
|||
|
Domestic Markets |
: |
SINGAPORE |
|||
|
Overseas |
: |
YES |
|||
|
Export Market |
: |
WORLDWIDE |
|||
|
Credit Term |
: |
N/A |
|||
|
Payment Mode |
: |
CHEQUES |
|||
|
Goods Traded |
: |
ELECTRONIC COMPONENTS |
|
|
Total Number of Employees: |
|||||||||
|
YEAR |
2015 |
||||||||
|
GROUP |
N/A |
||||||||
|
COMPANY |
25 |
||||||||
|
Branch |
: |
NO |
Other Information:
· The Subject is principally engaged in the (as a / as an) wholesale of electronic components.
The Subject deals with the followings products:
· Altera
· Aptina Imaging
· Bittware
· Cypress Semiconductor
· Ecliptek
· FOX Electronics
· IDT
· Infineon
· Linear Technology
· ON Semiconductor
· Ortus Technology
· PMC-Sierra
· Semtech
· Spansion
·
Tempo
Semiconductor
Latest fresh
investigations carried out on the Subject indicated that :
|
Telephone Number Provided By Client |
: |
N/A |
|
Current Telephone Number |
: |
65-63960200 |
|
Match |
: |
N/A |
|
Address Provided by Client |
: |
40 MAC PHERSON ROAD, 07-01, PINES
INDUSTRIAL BUILDING SINGAPORE 348574 |
|
Current Address |
: |
19 TAI SENG AVENUE, #03-01, 534054,
SINGAPORE. |
|
Match |
: |
NO |
Other
Investigations
we
contacted one of the staff from the Subject and she provided some information.
The Subject had shifted from the address
provided.
|
Profitability |
||||||
|
Turnover |
: |
Erratic |
[ |
2010 - 2014 |
] |
|
|
Profit/(Loss) Before Tax |
: |
Increased |
[ |
2010 - 2014 |
] |
|
|
Return on Shareholder Funds |
: |
Favourable |
[ |
32.38% |
] |
|
|
Return on Net Assets |
: |
Favourable |
[ |
41.40% |
] |
|
|
The fluctuating turnover reflects the
fierce competition among the existing and new market players.The higher
profit could be attributed to the increase in turnover. Generally the Subject
was profitable. The favourable return on shareholders' funds and return on
net assets indicate that the Subject's management was efficient in utilising
the assets to generate returns. |
||||||
|
Working Capital
Control |
||||||
|
Stock Ratio |
: |
Unfavourable |
[ |
102 Days |
] |
|
|
Debtor Ratio |
: |
Unfavourable |
[ |
74 Days |
] |
|
|
Creditors Ratio |
: |
Unfavourable |
[ |
124 Days |
] |
|
|
The Subject could be incurring higher
holding cost. As its capital was tied up in stocks, it could face liquidity problems.
The high debtors' ratio could indicate that the Subject was weak in its
credit control. However, the Subject could also giving longer credit periods
to its customers in order to boost its sales or to capture / retain its
market share. 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 |
[ |
0.56 Times |
] |
|
|
Current Ratio |
: |
Unfavourable |
[ |
1.08 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 |
: |
Favourable |
[ |
11.31 Times |
] |
|
|
Gearing Ratio |
: |
Favourable |
[ |
0.00 Times |
] |
|
|
The interest cover showed that the Subject
was able to service the interest. The favourable interest cover could
indicate that the Subject was making enough profit to pay for the interest
accrued. The Subject had no gearing and hence it had virtually no financial
risk. The Subject was financed by its shareholders' funds and internally
generated fund. During the economic downturn, the Subject, having a zero
gearing, will be able to compete better than those which are highly geared in
the same industry. |
||||||
|
Overall
Assessment : |
||||||
|
Although the turnover was erratic, the Subject
had maintained a steady growth in its profit. This indicate the management's
efficiency in controlling its costs and profitability. 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. With the favourable interest cover, the
Subject could be able to service all the accrued interest without facing any
difficulties. The Subject was a zero gearing company, it was solely dependant
on its shareholders to provide funds to finance its business. The Subject has
good chance of getting loans, if the needs arises. |
||||||
|
Overall
financial condition of the Subject : FAIR |
||||||
|
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 : |
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 |
|
|
Incorporated in 2009, the Subject is a
Private Limited company, focusing on wholesale of electronic components. Having
been in business for more than 5 years, the Subject has established a
remarkable clientele base for itself which has contributed to its business
growth. Presently, the issued and paid up capital of the Subject stands at
SGD 712,300. However, with a strong backing from its shareholder, the Subject
enjoys timely financial assistance should the needs arise. Over the years, the Subject has penetrated
into both the local and overseas market. The Subject has positioned itself in
the global market and is competing in the industry. Its stable clientele base
will enable the Subject to further enhance its business in the near term.
Being a small company, the Subject's business operation is supported by 25
employees. Overall, we regard that the Subject's management capability is
average. This indicates that the Subject has greater potential to improve its
business performance and raising income for the Subject. We noted that both the turnover and
profits have increased compared to the previous year. The higher profit could
be due to increase in turnover and better control over its operating costs.
Based on the higher profitability, the Subject has generated a favourable
return based on its existing shareholders' funds which indicated that the
management was efficient in utilising its funds to generate income. Due to
its weak liquidity position, the Subject may face working capital deficiency
in meeting its short term financial obligations if no fresh capital are
injected into the Subject. Being a zero geared company, the Subject virtually
has no financial risk as it is mainly dependent on its internal funds to
finance its business. Given a positive net worth standing at USD 2,087,006,
the Subject should be able to maintain its business in the near terms. Having a strong assets backing, the
Subject possesses latent assets as collateral for further financial
extension. Hence, it has good chance of getting loans if the needs
arises. The 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. Based on the above condition, we recommend
credit be granted to the Subject promptly. |
|
|
|
THE FINANCIAL
STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING
STANDARDS. |
|
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 |
SUMMARY |
SUMMARY |
SUMMARY |
|
Currency |
USD |
USD |
SGD |
SGD |
SGD |
|
TURNOVER |
43,697,884 |
39,823,813 |
46,889,049 |
33,100,673 |
8,268,548 |
|
Other Income |
136,979 |
91,419 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Total Turnover |
43,834,863 |
39,915,232 |
46,889,049 |
33,100,673 |
8,268,548 |
|
Costs of Goods Sold |
(39,652,125) |
(36,377,215) |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
Gross Profit |
4,182,738 |
3,538,017 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) FROM OPERATIONS |
791,490 |
518,194 |
848,269 |
203,863 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) BEFORE TAXATION |
791,490 |
518,194 |
848,269 |
203,863 |
- |
|
Taxation |
(115,765) |
(52,391) |
(107,101) |
(1,023) |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT/(LOSS) AFTER TAXATION |
675,725 |
465,803 |
741,168 |
202,840 |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED
PROFIT/(LOSS) BROUGHT FORWARD |
|||||
|
As previously reported |
911,281 |
445,478 |
(280,508) |
(567,089) |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
As restated |
911,281 |
445,478 |
(280,508) |
(567,089) |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
PROFIT AVAILABLE FOR APPROPRIATIONS |
1,587,006 |
911,281 |
460,660 |
(364,249) |
- |
|
TRANSFER TO RESERVES - General |
- |
- |
(15,182) |
83,741 |
(567,089) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
RETAINED PROFIT/(LOSS) CARRIED FORWARD |
1,587,006 |
911,281 |
445,478 |
(280,508) |
(567,089) |
|
============= |
============= |
============= |
============= |
============= |
|
|
INTEREST EXPENSE
(as per notes to P&L) |
|||||
|
Others |
76,778 |
102,722 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
76,778 |
102,722 |
- |
- |
- |
|
|
============= |
============= |
|
ASSETS EMPLOYED: |
|||||
|
FIXED ASSETS |
115,260 |
142,196 |
215,342 |
108,617 |
141,615 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM ASSETS |
115,260 |
142,196 |
215,342 |
108,617 |
141,615 |
|
Stocks |
12,212,839 |
8,330,911 |
- |
- |
- |
|
Trade debtors |
8,906,887 |
7,029,692 |
- |
- |
- |
|
Short term loans & advances |
10,782 |
65,641 |
- |
- |
- |
|
Amount due from holding company |
3,739,631 |
2,636,204 |
- |
- |
- |
|
Amount due from subsidiary companies |
37,645 |
- |
- |
- |
- |
|
Amount due from related companies |
1,921 |
- |
- |
- |
- |
|
Cash & bank balances |
399,639 |
2,344,185 |
- |
- |
- |
|
Others |
67,326 |
70,084 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT ASSETS |
25,376,670 |
20,476,717 |
16,612,435 |
12,651,624 |
9,298,905 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL ASSET |
25,491,930 |
20,618,913 |
16,827,778 |
12,760,241 |
9,440,520 |
|
============= |
============= |
============= |
============= |
============= |
|
|
CURRENT
LIABILITIES |
|||||
|
Trade creditors |
13,428,173 |
8,404,122 |
- |
- |
- |
|
Other creditors & accruals |
349,439 |
152,615 |
- |
- |
- |
|
Amounts owing to holding company |
9,006,200 |
10,200,410 |
- |
- |
- |
|
Amounts owing to subsidiary companies |
80,460 |
21,907 |
- |
- |
- |
|
Amounts owing to related companies |
143,435 |
- |
- |
- |
- |
|
Provision for taxation |
135,607 |
84,163 |
- |
- |
- |
|
Other liabilities |
251,393 |
326,865 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL CURRENT LIABILITIES |
23,394,707 |
19,190,082 |
15,654,818 |
12,412,190 |
9,256,755 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
NET CURRENT ASSETS/(LIABILITIES) |
1,981,963 |
1,286,635 |
957,618 |
239,434 |
42,150 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL NET ASSETS |
2,097,223 |
1,428,831 |
18,000,738 |
348,051 |
183,765 |
|
============= |
============= |
============= |
============= |
============= |
|
|
SHARE CAPITAL |
|||||
|
Ordinary share capital |
500,000 |
500,000 |
712,300 |
712,300 |
712,300 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL SHARE CAPITAL |
500,000 |
500,000 |
712,300 |
712,300 |
712,300 |
|
Retained profit/(loss) carried forward |
1,587,006 |
911,281 |
445,478 |
(280,508) |
(567,089) |
|
Others |
- |
0 |
- |
- |
(528,535) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL RESERVES |
1,587,006 |
911,281 |
460,660 |
(364,249) |
(528,535) |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
SHAREHOLDERS' FUNDS/EQUITY |
2,087,006 |
1,411,281 |
1,172,960 |
348,051 |
183,765 |
|
Deferred taxation |
10,217 |
17,550 |
- |
- |
- |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
TOTAL LONG TERM LIABILITIES |
10,217 |
17,550 |
- |
- |
0 |
|
---------------- |
---------------- |
---------------- |
---------------- |
---------------- |
|
|
2,097,223 |
1,428,831 |
1,172,960 |
348,051 |
183,765 |
|
|
============= |
============= |
============= |
============= |
============= |
|
|
TYPES OF FUNDS |
|||||
|
Cash |
399,639 |
2,344,185 |
- |
- |
- |
|
Net Liquid Funds |
399,639 |
2,344,185 |
- |
- |
- |
|
Net Liquid Assets |
(10,230,876) |
(7,044,276) |
957,617 |
239,434 |
42,150 |
|
Net Current Assets/(Liabilities) |
1,981,963 |
1,286,635 |
957,617 |
239,434 |
42,150 |
|
Net Tangible Assets |
2,097,223 |
1,428,831 |
18,000,738 |
348,051 |
183,765 |
|
Net Monetary Assets |
(10,241,093) |
(7,061,826) |
957,617 |
239,434 |
42,150 |
|
BALANCE SHEET
ITEMS |
|||||
|
Total Borrowings |
0 |
0 |
- |
- |
- |
|
Total Liabilities |
23,404,924 |
19,207,632 |
15,654,818 |
12,412,190 |
9,256,755 |
|
Total Assets |
25,491,930 |
20,618,913 |
16,827,777 |
12,760,241 |
9,440,520 |
|
Net Assets |
2,097,223 |
1,428,831 |
1,172,960 |
348,051 |
183,765 |
|
Net Assets Backing |
2,087,006 |
1,411,281 |
1,172,959 |
348,051 |
183,765 |
|
Shareholders' Funds |
2,087,006 |
1,411,281 |
1,172,960 |
348,051 |
183,765 |
|
Total Share
Capital |
500,000 |
500,000 |
712,300 |
712,300 |
712,300 |
|
Total Reserves |
1,587,006 |
911,281 |
460,660 |
(364,249) |
(528,535) |
|
LIQUIDITY
(Times) |
|||||
|
Cash Ratio |
0.02 |
0.12 |
- |
- |
- |
|
Liquid Ratio |
0.56 |
0.63 |
- |
- |
- |
|
Current Ratio |
1.08 |
1.07 |
1.06 |
1.02 |
1.00 |
|
WORKING CAPITAL
CONTROL (Days) |
|||||
|
Stock Ratio |
102 |
76 |
- |
- |
- |
|
Debtors Ratio |
74 |
64 |
- |
- |
- |
|
Creditors Ratio |
124 |
84 |
- |
- |
- |
|
SOLVENCY RATIOS
(Times) |
|||||
|
Gearing Ratio |
0.00 |
0.00 |
- |
- |
- |
|
Liabilities Ratio |
11.21 |
13.61 |
13.35 |
35.66 |
50.37 |
|
Times Interest Earned Ratio |
11.31 |
6.04 |
- |
- |
- |
|
Assets Backing Ratio |
4.19 |
2.86 |
25.27 |
0.49 |
0.26 |
|
PERFORMANCE
RATIO (%) |
|||||
|
Operating Profit Margin |
1.81 |
1.30 |
1.81 |
0.62 |
- |
|
Net Profit Margin |
1.55 |
1.17 |
1.58 |
0.61 |
- |
|
Return On Net Assets |
41.40 |
43.46 |
4.71 |
58.57 |
- |
|
Return On Capital Employed |
41.40 |
43.46 |
72.32 |
58.57 |
- |
|
Return On Shareholders' Funds/Equity |
32.38 |
33.01 |
63.19 |
58.28 |
- |
|
Dividend Pay Out Ratio (Times) |
0.00 |
0.00 |
- |
- |
- |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.17 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.25 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.